Charity Rogistration numbor. 1129186 The Monmothian Charitable Trust Unaudiled financial statents 30 April 2025
The Monmothian Chaiitable Tntst Page Legal and admintstratve Inforn]h Truees rewt Independent eXnIne5 fer Slatement ofcomprehensibE in(xAne ststent of financ181 posth Notes to the financral ststwnents
The Monmothian Charitable Tryst Legal and adminlstratlve Infommtion Trustees MrCTRWaker Dr A Mohindm KC Mr S J Raike5 (Chairman) Mr R Booth KC Mr S R George Mr R Atkin5 MrNGRJ8mes MrA C Roberts Mr D H Evans Mr W H Engkand MrA W D Roterts Mrs A Crackr1JOnes (ResvJned 16 November 20241 (Resigned 16 November 20241 (Resigned 16 November 20241 (>pCnts 28 Awil 20251 Charity number 1129186 Independant examiner Crown & Co Acuntants knmt Singleton Court Business Park Wonast(yw R(1 Monmouth Monmouthshire NW25 5JA Pagg 1
The Monmothian Charitablg Trust Trustees r•port Year ended 30 April 2025 The trustees pent their rqxfft and accounts for ts Jpar ended 30 Aortl 2025 The accounts have tEen prepared in accor[tsn with the ac(vuntiro pojiues set out in rnle 1 to the acwunts artd QJrnply wth thè dood, th• Charitio Aol 201I •nd by Chexritiea." Statement of Rmmended pra1 appluble to chanties preparing their accounts in accordan with the Financial Reporting Standard applble Fn the UK and the Repubk of IrpEand (FRS 102)- (as amended for cUting periocjs cornmencing from 1 January 2016). Objectivgs and activitles The objects of the trust are for the benefft of such Charilable ptsr[ or tharitable institutK)ns wtth the County ol m0nmouthshi. The FoTest of Dean and South HeFefordshire at such b'mes and in such manner and proportions ag the trustees rttay frcKn time to tin in their diell()n determine and in particular for the William Jones Foundati7 for the benefit of MonmoLrth sch(F. The trnst carrts out these objects by prowding small one off grants to hetp community projacts. The trustees have due regard to guidance issued by the Charty CommtS5ion in decKJing what athitEs the trust slN)uld undthe. Financial review The main s¢)urce of income fs from ¢)nations. lega and grfts and the trustees do not intend to funds from other sources at the momert Grants have tw made as detaited in the accounts for those opportunitss to awst other ¢harItI Kdeirtified by ihe trustees. The trustees do not Sler there is any need to maintain any [jX level reserves as the (tharity has no ccNnmibrtents for expensos. Risk management The trustees have considered the major risks to whKh the charity is exposed ar have reviewed those tssks and estsblished systems and prQedureS to manwje those risks. No major ri%ks have been Hlenlifwl other than coHapse financial ¥hre the money has been deposited. Grant making policy The Trust has established ts want making tx71ry to achieve its (Jects for the publ benefit by hetpin9 Monmouth &hcK>l. The grant makj.ng is reviwhBJ annually to enstsre that il reflects the chaitys objects and thereby advan public t¢nefit Investment poli¢y and perfomian¢e The trustees recognise Ih8t the main f1r1 from Ihe inveslment is to oblain Ihe best interest rates o short temi depostts. Plans for the futur¢ The Trusts plan to distribLrte au InCning funds to be kKal charities. Structu. governanco and managemont The trust is a registered chatrty. number 112918 and is o)nsitul8d undw a Injst deed ded 26 March 2009. Th8 trust was established with an iniw dontit of £5(K). Page 2
The Monmothian Charitable TTUSt Trustees report (¢ontinued) Year endod 30 April 2025 The trustees reFQrt was approved by the BLprd of Trustees on Mr S Raik&8 Trustee Page 3
The Monmothian Charitable Trust Indepemlent ExamineVs Report to thè Trustees of the Monmothian Charltable Trust Year ended 30 April 2025 I report on the acujunts of the Injsl for 5p8r eThJed Apn7 2025. RespectFv• resonsibilities OttStee$ and examiner The Irusys trustees are reSpO81b12 for the prepa11 of the 8(x>yjn The chaW8 tnJS1 conskjer that an audit is not required for this year vrKlw seclM)n 144(21 of the Charrtw Acl 2011 (the 2011 Act) and that an Independent examinadon is r)eeded. It is my Fesponsiblity to.. lill to follow the prctedur8s lakl d) Dir•lL gwi by lh8 Charity Commlssion under Seclion 14515Mb) ol the 2011 A¢( and Iiiil to state whetheT p&licuLqr matters have eome to my attentK>n. Basis of Independent exarninerfs report My examination was carried out in a(rANda& 1h Ihe Non5 gEn by Charity Comml85ion. An examination includes a Teveiw of Ihe accountsrg re¢>Jrds kept by the Charity and a comparison ofihe accounts presentsd in those recor¢Js. 11 also indudès Clr8t10n of any unusual items or disdosures in the acc4)vnts, and seeking explanations from you as trustees concemiTrJ any such matters. The procedures undertaken do not provide all the evrtJen thalwwld twjuired in an alit and cowuenuy no oplnlon is given as lo whether the 8cCutnS PTe5ent a Irue and faVE¥ and the report i% lirni1 to those matters set out in th8 next statement Independent examins ststement Yotsr attention ts drawn to Ihe that thè 12rity has parEd arxxNJnts in aw)rdance wth Ihe'Accounb"no and Reporting by Charibes Stalem8Trt of RwnmerKled PwtiLE appltcabfe to charthes preparing their accounts in accordgNx wilh the Finan¢1 Réports Standatd applv2bJ8 in ttr UK and ftepuc of Ireland IFRS 1021. l understand that thls has been dore in order for the accottnls lo pmwde a true and fair View in accordance vAth GeneraltyAccepted AccDuntiNd Praciice effective for rertiry rat beginning on or aftef 1 Janvary 2015. In (x)nneton myexaminati(x). other matttsexcept that referr to in Ihe wemous paragraph has come to my attentKm'. lal whKh gives me reasonable use to befEve that in any material r&8pe¢t the reqLwrements.' lil lo keep accounting records in acwrdan( wrth section 130 ofthe 2011 Act arJ } lo prepare accounts in aOrdN2 WTlh the a)unti rec4)th and complywilh aetsunUrwJ requiTements oflhe 2011 A¢L {bl to which, in rny opSnion, attention slK)ukl t drawn in ordertg enable a prr4Jer uThJerstaThJing of the ac¢oLthtg trj be r8achJ. Crown & Co Ac¢ount8nts Llmlted Singleton Gourt BuswRss Park Wonastow Road Monmolrth MonmDulhshire NP25 5JA Page 4
The Monmothlan Charilable Trust SLitsment of comprehensive inGome Yoar ended 30 April 2025 2025 2024 Nots Income from donations, legacies and eharitabk activities EXnditure on charrtable activriEs 27.787 (10,649} 17,757 (12.4481 17,138 5.309 Unrealised (Fossllgain on inveslments Income from otheF fjxed asset inNEslments 1.275 1.1 2.116 901 Net incomel(expenditurE} for the year 19.603 8,326 The notes on pages 7 to 9 forni part of these financlal statements. Page 5
The Monmothian Charltable Tnt statement of fmancial posltion 30 April 2025 2025 2024 Note Flxèd assats Investments 30.698 29,423 30.698 29.423 Current assets Cash at bank and in hand 45.603 25.288 45.603 Creditors: amoursts falling due within one year 25.288 (4.151) (2.164) Net Current assets 41.452 23.124 Totsl assets less Current liabiliti•s 72.150 52,547 72.150 52.547 Income funds Unrestricled funds 72.150 52.547 72.150 52,547 The financial ststements were approved by the Trustees on Mr S Raikes Tnjstee Chanty rpgisltation number. 1129186 The not•s on pages 7 to 9 forn) part of theBe financial statements.
Thg mOnnth1aft Charitable Tnmt Notes to the financial statements Year ended 30 April 2025 Ac¢ounting pollcle8 Basis of preparatlon The accounts have been prepar1 in accordance th the tnjsys goveming dctument, the Charities Act 2011 and "Aeeounting and Reporb"ng by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in a¢cordan¢e wtlh the Fina[Kl RepoTting Standard applicable in the UK arHI RepU]C of Ireland (FRS 1021- {as amended for wjuntsng peric¥ts commencing from 1 January 2016}. The trust is a publ Benefft Enltty as defined by FRS 102. The tmst has taken advantage of the provEsnS of the SORP for charÈlies appI.ng FRS 102 Update Bulletiri 1 not to prepare a statement of cash Ikms. The ac(L)unts have departj from the charib.es (Accounts and reports) Regulations 2008 onty to the exient required to prode a true and fair view. This departure has 1nvofvI follow.ng the Statement of R0Mmendj Practi for chariti&8 app.9 FRS 102 rahÈr than the version of the Statement of Recommended Praclice which referred to in the Regulations but whith has Sin been wthdrawn. Incoming re50urc05 Al incoming re50UTces are reeogniwj On the drIty has entTtlement to the resources. rt is certain that the resour$ w¢ll be received and the monelary value of incc4ning resour can be measurèj with sufficient relb{tity. Flxed asset Investments Fixed asset investments are inrtjalty measuryl at tranwtion prKe exdurfiTrJ transaCtn costs, and are subsequently measured al fair value at each rep(Mling date. Changes in fair value are recognised in net incomel(expenditure} for the year. Transaction (>)sts are exFens&J as incurred. Impairnient A review for indicalors of impaimient is Carr out at each rep)rting date. with the recoverable amount being estimated where such indutors exFSt Where the carryir3g value exceeds the recoverable anount, the asset is inpaired &COrjty. Pmr InlM)ents are alg) revftd w)bre reversal * each reporbng date. When it is not p0ble to estimate the recove amount of an indmdual asset. an estimate is made of the recoverable amount of the CAshnerattng unit to which the asset belongs. The cash-generating untt is the smallest identifiable group of assets that indudes the a&set and generates cash inflows that are largely independent (rf the cash infiovts from othw assets or grcwps of assets.
The Monmothian Charitable Tt Notes to the financial statements (Gontinued) Year ended 30 April 2025 Financial instruments A financial ass81 or a financial liatm.lity is recoJniwJ ()nly when the trust bMeS a paty to the contrathal provisions of the instrijment Basic firtancsal instruments are initialty rec(NJnised at the transaction PTice. unles9 the arrgngement constitutes a financing transaction. where tt is recognised at the present value of the future payments discounted al a mafket rate of iftterest for a similar debt Instrument Debt instruments are sutrtsequently measured at amortised cc6t Where invesbnents in norkconvertblo preferen1 shares and noTwultable ordinary shares or prefergnGe shares are publty traded or their fair value Lxn otherwise be measured reliabty. the iftvestmenl is subsequenuy measured at fatr walue with ¢han9es in fair value recognised in profit or loss. AFI other such investments are subsequèntty measured at cost less impaifment Other financial instruments. including derivatives. are initialty wnised at fair value, urEless payment for an asset ts deferred beyond r)mI81 business terms or financed al a rate of interest that is not a market rate. in which ¢2se the asset is measured at the present vue of Ihe fubjre paymer discounted at a mafkel rate of interest for a simifar debl instrtsmenl Other financial instrun7ents a subsequenty measured * fair value. wth any changes recogTrised in prufft or h)ss, wrth the except of hedging instrurnents In a deSJnated hedging relatiShIp. Financial assets that are measured at Gt or anortiwl st are reviewed for objech.ve evidence of impairment at the end of each reming dale. If there ts jeCts¥e evhtien of impairment. an impaimient kxss is recnISed in profft or10&8 immalÈately. For all equity instruments regardless of sigThfThnce. and other financFal assets that are indNtclualty snifiCant, these are assessed indmdualty for impainTrenl Other financial assets or eFther assessed individualty or grouped on the basks of simiLar cretht risk charatsrtstics. Any reversals of impaimient are renIl in Kofft or loss immedratety. to the extent that the reversal does not resutt in a carrying 8mount of the financial a&%et that exceeds what the carrwng amount would ResouTces expended Liabilities are reGognised as resour expen¢d as sfyjn as there is a legal or Gonstructive obl(gation committing the chanty to the expendiiure. All eynditure rs a¢Unted for on an accnjafs basis and has been classFFEd under headings htat aggregate all costs tated. Charttable funds Unrestrreted lund3 e available for use at the discrEtk)n of the trustees in furtherance of their charitable objectives unless the furKts have been designated for other purposes. Restricted funds are subject to specrfic conditions by donors as ID how Ihey may be us&J. The PUTFK)ses and uses of the Trnstges None of the Tnjstees (or any [SOn$ (x)nnec*ed with thèrnl rèceived any mner10n or benefits Income from other fixed asset investmgnts 2025 2024 Incnmè from investments 1,190 901 Page 8
The Monmothian Charitable Tntst Nots8 to tha financlal statements (continued) Year ended 30 April 2025 Investments Other investments other than loans At 1 May 2024 AdditM)n$ 29.423 1.275 At 30 Aprll 2025 30,698 Impaimient At 1 May 2024 and 30 Aprll 2025 Carrying amount At 30 April 2025 30.698 At 30 April 224 29.423 Creditors: amounts falling due within one year 2025 2024 Other cwitors 4,151 2.164 Page 9