REGISTERED CHARITY NUMBER: 1139397 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FOR FIELDSDENE TRUST MHA {Irading name of Maclntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
FIELDSDENE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Page Report of the Trustees Independent Examlner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 13
FIELDSDENE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present thelr report with the financial slalements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charilies- Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and alms Fieldsdene Trust supports evangelical Christian charities and affiliated workers through regular grants lo existing beneficiaries. together with occasional oneff grants. The Trust has a particular interest in Wales without being limited to Wales. Grant maklng poli¢y The trustees allocate Iwo thirds of income for grants by monthly standing orders. The majority a for the 5UPPOrt of people who have dedicated themselves to Christian service in association with a UK Charity. Regular grants for the support of named people are only made when one or more of the trustees believe from their knowledge and experience that the objectives of the Irusl are being met. Other standing orders are to advance the Christian faith through student or graduate ministry. scripture distribution, education and tTaining. The organisations involved are also known to one or more of the trustees. One third of income is available for one-off grants. The same criteria are applied as for regular gnts. These grants are decided at trustee meetings held three times a year. Public benefit The trustees of Fieldsdene Trust can confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. ACHIEVEMENT AND PERFORMANCE Investment perfoTmance At 30 September 2024 the combined cost of investments was £3.591,517 and was valued at £5.657.154. CCLA Fund Managers Limited were the investment managers throughout the current and prior year. FINANCIAL REVIEW Financial position The finanual results are shown in the following pages. Total income for the year was £161.871 12023 - £159.513} and lolal expenditure was £148.226 {2023 - £158,345). The net gain on investments in the year was £548.906 (2023 - £66,762)- Investment policy and objectives The Injslees seek a spread of investments yielding long term real growth in ¢apital and medium-temi real growth in income. The tnjstees accept that the objectives of the growing capital and income imply a degree of risk in the inveslment portfolio. Since Ihe grant policy of Ihe trustees is out of trust income the short to medium tem capital value of the portfolio may fluctuate. The trustees choose lo avoid Investmen15 that would be deemed to be inimic81 to the main object of the Irust. Reserdes pollcy The trustees seek to maintain a balance on deposit with the Investment Managers of at leasl 4 monlhs regular donations to ensure that commitments can be met should contingencie5 occur. After providing for the required reserves, the Iruslees aim lo ensure that expenditure approximates to the standard income of the charity. At 30 September 2024 the charity's total funds amounted to £5.743,474. All of the funds of the charity are unrestricted. Of this, £5,657,154 relates lo fixed asset investments, leaving frea reserves of £86,320. The trustees are satisfied with the level of reseNes held. Page 1
FIELDSDENE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Fieldsdene Twst is constituted as a charitable trust whose goveming document is ils Trust Deed dated 14 October 2010. It is registered with lh8 Charity Commissioners under charity number 1139397. All decisions are made by the trustees as and when required. Recrultment and appolntment of new trustees A new trustee or new trustees may be appointed at any time (either by way of replacement or addition) but so that the lotal number of trustee$ shall al no time exceed six. Organlsatlonal Structure The Fieldsdene Trust is managed by Its tfuslees, there are no employees of the Trust. Induction and training of new trustees There is no fom)al induction programme for new trustees, but new members are fully integrated into the running of the trusl immediately on appointrnenL Risk management The trustees have considered the major risks of the Trust and are satisfied that the risks are being managed adequately. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1139397 Principal address 50 Waun-Y-Groes Avenue Rhiwbina CARDIFF CF14 4SZ Trustees H J Capper R J Powezka J D J Capper B Capper-P8ntea Independent Examlner MHA {Irading name of Maclntyre Hudson LLP) Limited liability parinership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS Soll¢itors Geldards LLP CARDIFF CF10 3ZF Bankers HSBC PONTYCLUN CF72 8AP Page 2
FIELDSDENE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 1310312025 Approvod by order ofthe Board of Trustees on ............................................. and signed on its behalf by: R J Powozka- Trustee Page 3 Doc ID: cbfOdd9905ebe33d9a8ebd23a4¢9c49c80e144f2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIELDSDENE TRUST Independent examlner's report to the trustees of Field$dene Trust I report to the charity trustees on my examination of the accounts of Fieldsdene Trust (the Trust) for the year ended 30 September 2024. Responsibilities and ba$ls of report As the charity ITuslees of the Trust you are responslble for the preparation of the accounts in accordance with the requirements of Ihe Charities Act 2011 {Yhe Act,). I report in SpeCt of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Independent exarniner's statement I have completed my examination. I confim) that no material matters have come lo my attention in connection with the examinalion giving me cause to believe that in any material respect.. accounting records were not kept in SpeCt of the Trust as required by Section 130 of the A¢t- or the accounts do not accord with those records-, or the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give true and fair view which is not a matter considered as part of an independent examination. I have no concems 8nd have come acii)ss no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Julia Mortimer FCCA MHA {trading name of Maclntyre Hudson LLP) Limited liability partnership in England & Wales Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS Date: . Page 4
FIELDSDENE TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 Unrestricted funds 2023 Total lunds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 816 Investment income 161,871 158,697 Total 161.871 159 513 EXPENDITURE ON Charltable activities Advancement of Christian religion 148,226 158.345 Nel gains on investments 548.906 66.762 NET INCOME 562,551 67.930 RECONCILIATION OF FUNDS Total funds brought forward 5.180.923 5,112.993 TOTAL FUNDS CARRIED FORWARD 5,743,474 5.180.923 The notes fomi part of these financial statements Page 5
FIELDSDENE TRUST BALANCE SHEET 30 SEPTEMBER 2024 2024 Unrestricted funds 2023 Total funds Notes FIXED ASSETS Investments 5.657,154 5.108.248 CURRENT ASSETS Cash at bank 87,186 73.575 CREDITORS Amounts falling due within one year 12 {866) (900) NET CURRENT ASSETS 86.320 72,675 TOTAL ASSETS LESS CURRENT LIABILITIES 5,743,474 5.180,923 NET ASSETS 5,743.474 5.180,923 FUNDS Unrestricted funds 13 5.743.474 5.180,923 TOTAL FUNDS 5.743.474 5,180,923 The financial statements were approved by the Board of Truslees and authorised for issue on ..13.1.Q3.12025............... and were signed on its behalf by= R J PowFzka - Trustee }/- J D J Capper- Trustee The notes fomi part of these financial statements Page 6 Doc ID.. cbfOdd9905ebe33d9a8ebd23a4c9c49c80e144f2
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 STATUTORY INFORMATION Fieldsdene Trust is an unincorporated charity registered in England and Wales. The principal address Is shown in the reference and administration details. The nature of the charity's operations and principal activities are disclosed wlhin the Report of the Trustees. The financial statements are psented in Sterling {£), the chadty's functional currency, and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistenuy applied to all years presented unless otheise ststed. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity. which is a public benefit entity under FRS 102. have been piepared in accordance with the Charitie5 SORP IFRS 102) 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, 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 under the historical cost convention. with the exception of investments which are included at market value, as modified by the revalualion of certain assets. The charity has prepared the financial statements in accordance with Accounting and Reporting by Charilies.. statement of Recommended Practice applicable to charities preparing their 8c¢ounls in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland {FRS 1021 (effective 1 January 2019) in preference to Ihe Accounting and Reporting by Chartlie5- Statement of Recommended practi issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. This has been done in order for the a{unts to provide a Iwe and fair view in accordance with the Generally Accepted Accounting Pr8Ctice effective for reporting periods beginning on or after 1 January 2019. There have been no material departures from Financial Reporting Standard 102. Golng concern No material uncertainties related to events or conditions that may cast significant doubt upon the entity'5 ability to conlinue as a going concem exist. Income All income is recognised in the Statement of Financial Activities once the charity has enlitlement to the funds: it is probable that Ihe income will be received and the amount can be measUd reliably. This includes capital grants. Donations and legacies income includes donations. gifts and grants that provide core funding or are of a general nature are recognised where there is entidemenl, probability of elpt and the amount can be measured with sufficient reliability- Such income is only deferred when the donor specifies it musl be used in future accounting periods or the donor has imposed conditions which must be met before the charity has uncondllional entrtlement. Investment income is recognised on a recetvable basis. It is not Ihe policy of the charity lo show income net of expenditure. Expenditure Liabilitie5 are recognised as expenditure as soon as there is 8 legal or constructive obligation committtng the charity to that expenditure, it is probable that a transfer of economic benefits WTII 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 headings that aggregate all cost related to the category. Where costs cannot be dSrectly attributed to particular headings, they have been allocated to activities on a basls consistent with the use of resource5. Page 7 continued..
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES- continued Expenditure Charitable expenditure comprises those costs incurred by the charlty In the delivery of Sts activities and seNi¢es for ils beneficiaries. 11 includes both costs that Can be allocated direclly to such activlties and those costs of an indirèct nature to support them. Support costs are those costs that, whilst necessary lo deliver an activity. do not themselves produce or constitute the output of the charitable activity. This includes governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and cosls linked to the strategic management ol the charity. Expenditure includes VAT as the charity is not VAT registered. Grants offered subject lo conditions which have not been mel at the year end dale are noted as a commttment but nol accrued as expenditure. Taxation The charity is exempt from tax on its charitable aclivilies. Investments Investments are included at market value at the balance sheet date. Realised and unrealised gains or losses on investrnenls are shown separately on the face of the statement of financial activities. Investment income is recognised on a receivable basis. Basis of reeognltion of liabilities Liabilities are recognised as soon as there is a legal or constructive obligation which commits the charity to the expendi. Financial instruments The charity only has financtal assets and financial liabilities of a kind that qualify as basic financi81 instruments. Basic financial instiuments are initially recognised at transaction value and subsequently measured at their settlement value. Trade and other debtors are recognised at the settlement amount due. Prepayments are valued al the amount prepaid. Creditors and provisions are recognised where the charity h2s a present obligation resulting from a past event that will probably result in the transfer of funds to a Ihird party and the amount due to settle the obligation can be measured or egtimaled reliably. Creditors and provisions are normally recognised at their selllement amount after allowing for any trade discounts due. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included In the notes to Ihe financial statements. Page 8 continued..
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Donations 816 INVESTMENT INCOME 2024 2023 Dividend InMe Deposit account interest 160.044 1.827 157.484 161.871 158.697 CHARITABLE ACTIVITIES COSTS Grant funding of aclivtlies (see note 6) Support costs Totals Advancement of Christian religion 147.077 1.149 148,226 GRANTS PAYABLE 2024 2023 For the advancement of the Christian Religion 147.077 157,138 Grants paid to inslitutions during the year were as follows.. International Fellowship of Evangelical Students Universities and Colleges Christian Fellowship European Christian Mission SIM Intemational {UK) The George Muller Charitable Trust Union Foundation Operation Mobilisation Good News for Everyone! Grace Baptist Mission Wycliffe Bible Translators Limited OMF International (UK) Evangelical Alliance UFM Wortdwide Pioneers UK Ministries France Mission Trust Pontypridd Christian Concern Grace Rural Wales Partnership - Y GRWP Ambassadors Football Yr Eglwys E Gym Impact Giving UK Trust Wales Leadership Forum Pioneers Madora Mission Grangetown Baptist Church The Parish Pontypridd Hope Pernbrokeshire Lampeler Evangelical Church Gateway Church CAE Bethel Evangelical Church Yr Eglwys Efengylaidd Ab0ry5lh Student Christian Union 14,820 22.806 3,444 3.444 3.444 8,982 2.736 6.012 1,908 6.189 10.191 2,500 1,908 3.908 2,736 1,908 3,444 1.060 2,544 1.908 11.640 14.592 24,996 3.384 3,384 3,384 11.232 2,688 5.904 1.872 6.072 10,020 1,872 2,872 2,688 1,872 13,384 1.872 5,000 1,300 1,000 10.000 5,000 10,000 5.000 3,500 2,500 1,000 750 795 1,500 2,000 750 Page 9 ontinued...
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 GRANTS PAYABLE - ¢ontinued stewardship Hebron Evangelical Church The Foundations Trust Ffynnon Llandysul Childs Hill Baptist Church Impact Giving UK 2,500 2.000 5.000 5,000 5.000 5,000 147,077 157.138 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefiis for the year ended 30 September 2024 or for the year ended 30 September 2023. Trustees. expense$ No trustee expenses were paid during Ihe year {2023_' £Nill. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME AND ENDOWMENTS FROM Donations and legacie5 816 Inveslment income 158.697 Total 159.513 EXPENDITURE ON Charitable activities Advancement of Christian religion 158,345 Net gains on investments 66.762 NET INCOME 67.930 RECONCILIATION OF FUNDS Total funds brought forward 5,112.993 TOTAL FUNDS CARRIED FORWARD 5.180,923 Page 10 continued...
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 INDEPENDENT EXAMINER'S REMUNERATION 2024 2023 Independent examlnation fee 816 780 10. FINANCIAL INSTRUMENTS 2024 2023 Flnan¢lal assets Financial assets that are debt instruments measured al amortised cosl Financial assets measured al fair value 87.186 5,657.154 73.575 5,108,248 Financial liabllities Financial liabilities measured at amortised cost 866 900 Financial assets measured at amortised Cost Comprise cash al bank, and financial assets measured at fair value comprise fixed asset investments. Financial liabilities measured at amortised cost comprise accNals. 11. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 October 2023 Revaluations 5,108,248 548.906 At 30 September 2024 5,657.154 NET BOOK VALUE At 30 September 2024 5.657.154 At 30 Seplember 2023 5.108.248 There were no investment assets outside the UK. Cost or valuation at 30 September 2024 is represented by.. Listed investments Valuation in 2024 5 657,154 Fixed asset investments comprise: 2024 2023 Llsted investments - CCLA Charities Ethlcal Investment Fund 5,657,154 5.108,248 5.657.154 5.108,248 2024 2023 Historical cost of investments 3,591.517 3.591.517 All investments are held primarily to provlde an investment return for the charity. Page11 ontinued.
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 866 900 13. MOVEMENT IN FUNDS Net movement in lunds At 1110123 At 3019124 Unrestrlcted funds General fund 5.180.923 562.551 5.743.474 TOTAL FUNDS 5.180.923 562,551 5.743.474 Nel movement in fLtnds, included in the above are as follows- Incoming resources Resources expended Gain5 and losses Movement in funds Unrestricted funds General fund 161.871 (148.226) 548.906 562.551 TOTAL FUNDS 161.871 148.2261 548.906 562.551 Comparatlves for movemenl in funds Net movement in funds At 1110122 At 3019123 Unrestrlcted funds General fijnd 5.112,993 67,930 5.180.923 TOTAL FUNDS 5.112.993 67,930 5,180.923 Comparative nel movement in funds, Included in the above are as follows.. Ineoming resources Resources expended Gains and losses Movement in funds Unrestricted fund$ General fvnd 159.513 (158.345) 66.762 67,930 TOTAL FUNDS 159.513 158,3451 66,762 67.930 Page 12 continued..
FIELDSDENE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 14. RELATED PARTY DISCLOSURES During the prior year. the charity paid total grants of £5.904 to Good News for Everyone! a charity for which Heather Capper was a trustee. During the prior year, the ¢harity received a donation of £816 from one of the truslees. Page 13