2025-04-05-accounts - The Sands Family Trust

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Handelsbanken

Wealth & Asset Management

)

THE SANDS FAMILY TRUST

REPORT AND ACCOUNTS Year ended 5 April 2025

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Version 04/08/25

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THE SANDS FAMILY TRUST

INDEX

Year ended 5 April 2025

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||||||| |---|---|---|---|---|---| |a| |Page| |General|information|2| |Report|of the|trustees|3-4| |Statement|of trustees'|responsibilities|5| |Independent|examiner's|report|6| |Statement|of|financial|activities|7| |Balance|sheet|8| |a| |Cashflow|statement|)| |Accounting|policies|10-11| |Notes|to|the|financial|statements|12-14|

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THE SANDS FAMILY TRUST

GENERAL INFORMATION

Year ended 5 April 2025

Trustees Peter Sands Jacqui Moseley Rebecca Nicolson

Accountant

Handelsbanken Wealth & Asset Management 77 Mount Ephraim Tunbridge Wells Kent TN4 8BS Mrs K Whiley . BKM Accounting Services 5 Ashdown Chase Nutley East Sussex TN22 3LY

Independent examiner

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Registered charity number 1136909

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THE SANDS FAMILY TRUST

REPORT OF THE TRUSTEES

Year ended 5 April 2025

ecEEE TL TT i A

The trustees present their report with the financial statements of the charity for the year to 5 April 2025. The trustees have adopted the provisions of Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Object and activities for the public benefit

The object of the charity, under the terms of the Trust Deed;

The object of the charity, under the terms of the Trust Deed, is to make grants for charitable purposes and to charitable institutions, for the public benefit, at the discretion of the trustees.

The trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act. -

Financial Review

Unrestricted funds

Incoming resources for the year amounted to £13,816, compared to £13,900 for the period to 5 April 2024. Grants of £30,000 were made and support costs amounted to £3,319. The deficit has been made good by transfer from the expendable endowment fund. This compares to grants of £75,763 and supporting costs of £3,210 for the previous year.

Expendable endowment

Expendable endowment stood at £634,513 (2024: £653,543) at the balance sheet date and constitutes the free reserves.

Principal funding source

The principal funding source comprises gifts from the trustees of the charity and from investment income.

Investment policy and objectives

The trustees have agreed a medium risk profile.

Reserves policy

The trustees aim to maintain the endowment fund at a level to provide a sufficient capital base to generate and income level sufficient to maintain the level of grant making planned in the future. The trustees are satisfied with the current level of reserves.

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THE SANDS FAMILY TRUST

REPORT OF THE TRUSTEES

Year ended 5 April 2025

Structure, governance and management

Constitution

The Sands Family Trust is constituted by Deed of Trust dated 23 March 2010 and is a registered charity, Number 1136909.

Trustees

New trustees may be appointed by the existing trustees by virtue of a power contained within the Trust Deed. The Trust Deed provides for a minimum of three trustees.

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

New trustees may be appointed by the existing trustees by virtue of a power contained within the trust deed. A minimum of three trustees is required by the trust deed.

Organisation structure

The trustees must hold at least two ordinary meetings each year. At those meetings, the trustees agree broad strategy and activity for the Trust, including consideration of grant making, investments and reserves.

Induction and training of new trustees

On appointment, new trustees must expressly acknowledge his or her acceptance of office of Trustee of the Charity. In selecting new trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. New trustees are provided with a copy of the Trust Deed and a copy of the Charity's latest report and accounts.

Risk management

The trustees have assessed the risks to which the charity might be exposed and consider them to be minimal. The trustees have addressed such risks that exist.

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Jacqui Moseley= a
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THE SANDS FAMILY TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Year ended 5 April 2025

Trustees’ responsibilities in relation to the financial statements

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:

° select suitable accounting policies and then apply them consistently;
° observe the methods and principles of the Charities SORP (FRS 102);

° make judgements and accounting estimates that are reasonable and prudent;
e state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records, which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the trustees on. 2]. 6I coma ll signed on its behalf by:

Jacqui Mo&eley - Trust

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THE SANDS FAMILY TRUST

independent Examiner’s Report to the Trustees of The Sands Family Trust - Charity Number:

1136909

Year ended 5 April 2025

| report on the accounts of the trust for the year ended 5 April 2025.

Respective responsibilities of the trustees and examiner

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirement of the charities Act 2011 (‘the Act’)

| report in respect of my examination of the trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions give by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

| am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

e the accounting records were not kept in accordance with section 130 of the Charites Act; or
e the accounts did not accord with the accounting records; or
e the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other that any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawnin this report in order to enable a proper understanding of the accounts to be reached.

Name:

cede e eee eeeea eee en en ented Date: 14.08.25 Karen Whiley

Relevant professional qualification or body: FMAAT

Address: 5 Ashdown Chase Nutley

East Sussex TN22 3LY

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THE SANDS FAMILY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

Year ended 5 April 2025

|EE EE —O__m=—|:=:——————S== ———————————————|———————————————|———————————————|EEE|ee|| |---|---|---|---|---|---| |||Unrestricted|Expendable|Total|Total| |||Income|endowment|this year|last year| ||Note|Fund|Fund|2025|2024| |||£|£|£|£| |Income resources|||||| |VoluntaryIncome|||||| |Donations|if|450|-|450|Bie| |Tax refund due on gift aid||-||-|-| |Investmentincome|Zz|-|13,366|13,366|ipds| |Total incoming resources||450|13,366|13,816|13,900| |Resources expended||||~|| |Cost ofgenerating funds|||||| |Investment management costs|||-|-|-| |Charitable activities|||||| |Grants made|3|30,000|-|30,000|75,063| |Governance cost|||||| |Administration & Trust accounting|4|3,319|-|3,319|F210| |Bank charges||-|-|-|148.00| |Total resources expended||33,319|-|33,319|79,120| |Net incoming/(outgoing) resources||(32,869)|13,366|(19,503)|(65,220)| |before transfers|||||| |Gross transfers between funds||32,869|(32,869)||| |||-|(19,503)|(19,503)|(65,220)| |Net income/(outgoing) resources before|||||| |other recognised gains and losses|||||| ||||.||| |Other recognised gains and losses|5|-||-|(1,118)| |Realised (Losses)/gains on investment assets|||948|948|(1,252)| |(Losses)/gains on investment assets
Net movements in funds||-|(476)
(19,030)|(476)
(19,030)|14,016
(53,574)| |Fund balance brought forward at 6 April 2024||-|653,543|653,543|707,117| |Fund balance carried forward at 5 April 2025||-|634,513|634,513|653,543| |||7||||

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THE SANDS FAMILY TRUST

BALANCE SHEET

Year ended 5 April 2025

eae	eneen		a		————
			Total		Total
		Note	this year		last year
			2025		2024
Current assets
Investment portfolio at market value		6	611,485		639,645
Debtors		7	-		-
Cash at bank and	in hand		26,347		TA A07
Creditors: amounts falling due within one year		8	(3,319)	we	=(3,210)
Net current assets			23,028		13,897
Total assets less	current liabilities		634,513		653,543
Funds
Expendable endowmentfund			634,513		653,543
Unrestricted income fund			-		-
			634,513		653,543

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THE SANDS FAMILY TRUST

CASHFLOW STATEMENT

Year ended 5 April 2025

	2025	2024
Net income forthe year	(19,503)	(65,220)
Adjustments for
Interest and dividends	(13,366)	(
Decrease/(Increase) in debtors	=	;
(Decrease)/Increase in creditors	109	(12)
Cash flows from operating activities	(32,760)	(76,360)
Cash flows from investing activities
Interest and dividends	13,366	10,010
Proceeds from sale of investments	41,998	80°32
Purchase of investments	(13,366)	4),128)
Net cash used by investing activities	41,998	79,714
Change in cash and cash equivalents	9,238	3,354
Cash and cash equivalents brought forward	17,107	46,753
Cashandcashequivalentscarriedforward	26,347	17,107

THE SANDS FAMILY TRUST

ACOUNTING POLICIES

Year ended 5 April 2025 ne EE

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2015)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared on a going concern basis and under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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Taxation

The charity is exempt from tax on its charitable activities.

Fund Accounting

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Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. The expendable endowment fund has been invested to primarily produce income although the trustees may use the fund for charitable purposes if required.

Restricted funds can only be used for a particular restricted purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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SSS

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THE SANDS FAMILY TRUST

ACOUNTING POLICIES

Year ended 5 April 2025

Investments

Investments are shown at market value at the balance sheet date. All gains or losses on the revaluation or on disposal are included in the Statement of Financial Activities

Investment income is recognised as receivable.

EEee

THE SANDS FAMILY TRUST

NOTES TO THE FINANCIAL STAEMENTS

Year ended 5 April 2025

Year ended 5 April 2025	Year ended 5 April 2025	Year ended 5 April 2025	Year ended 5 April 2025
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		2025	2024
		£	a
1 Income
Donation		450	OME
Donation (Gift Aid)		-	-
		450	CR
2 Investment income
Unit trust distributions	(Accumulation units)	13,366	11,128
		13,366	dhl 28
3 Grants
International Rescue		30,000	-
	Harvard University		4 {500
	International Rescue		30,000"
	First Story		1,000
	Pearson College		38,263
	TheTrussellTrust		5,000

		30,000	75,763
4	Governance costs
	Administration & Trust accounting to 5 April 2024	-	2,760
	Independent examination fees to 5 April 2024	-	450
	Bank charges		148
	Administration & Trust accounting to 5 April 2025	2,844	-
	Independent examination fees to 5 April 2025	475	-
		3,319	Sho58
5	Bank Charges& Exchange rate adjustments
	Exchange rate variances on CHF grant	0	-
6	Fixed asset investments
	Market value
	Market value brought forward	639,645	696,585
	Additions at cost	13,366	10i2s
	Less disposals proceeds	41,998	80,832
	Add/(deduct) net gain/(loss) on revaluation	472	12,764
	Market value at end of year	611,485	639,645
	Realised gains/(loss)	948	(n252)
	Unrealised gains/(loss)	(476) 472	14,016 12,764
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THE SANDS FAMILY TRUST

NOTES TO THE FINANCIAL STAEMENTS

Year ended 5 April 2025

a

						2025	2024
						£	g
7	Debtors					.	-
8	Creditors: amount falling due within one year
	Independent examination fees to 5 April 2024					-	450
	Administration & Trust accounting to 5		April	2024		-	2,760
	Independent examination fees to 5 April 2025					475
	Administration & Trust accounting to 5 April 2025					2,844
					3,319		3,210
8	Analysis of Investment
						Mkt Value	Mkt Value
					at year end		at year end
	Portfolio value					611,485	639,645
	Total					611,485	639,645
	The historic cost of these investments was £518,366 (2024: £539,679)
9	Analysis ofFunds
		At	Income		Expenditure		Gains/losses	At
		06-Apr-24					& transfers	05-Apr-25
		£		£		g	£	£
	Expendable endowment funds	653,543		13,366		-	(32,397)	634,513
	Unrestricted funds	-		450		(33,319)	32,869	=
		653,543		13,816		(33,319)	472	634,513
		At 06-Apr-23	Income		Expenditure		Gains/losses & transfers	At 05-Apr-24
				£	.	&£	E
	Expendable endowment funds	707,117		11,128		2	(64,702)	653,543
	Unrestricted funds	5		2,772		(79,120)	76,348	.
		707,117		13,900		(79,120)	11,646	=__ 653,543
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9 Analysis of Funds

THE SANDS FAMILY TRUST

NOTES TO THE FINANCIAL STAEMENTS

Year ended 5 April 2025

9 Analysis of Funds continued

Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general charitable objectives.

Expendable endowment funds are primarily invested to produce income but may be used to fund charitable purposes.

10 Related Party Disclosures

Mr P Sands paid the Independent Examiners fee of £450 in relation to the examination of the Financial Statements for the year ended 5 April 2024. This has been treated as a non-gift aid donation in the Financial Statements for the year ended 5 April 2025.

11 Staff costs and Trustees’ Remuneration and Benefits

There were no employees of the charity during the year. The trustees received no remuneration and were not reimbursed for any of the expenses in the year.

12 Appointment of third trustee

The trustees are in the process of appointing a new trustee.