Charity reg1straOn number.. 1141431 Keith Noel Abraham Charitable Trust Annu•l Rort Fln•nd•l Slalements for the Year Ended 6 Aorfl 2024 WESTCOTTS
Kolth Nool Abraham Charltable Trust Contents (¢ontlnued) Rthrence and Admini•trallve Dot•ils Tru8tee$' Report 2to3 Indepdent Ex•mln•rf• Report Statement of Fln•ndal Ade6 B•lanc• Sh••t Not•s lo tho Flnandal St•toment• 7t012
Kalth No•1 Abraham Charftable Trust Rehr•n¢o and Admlnlstrativ• Dotalls Chrf8lopher Matyn Unton Alexandra Ch*lott¢ Jk6 1141431 Charlty R•gl•tr•tlon NINnr Prlnclp•l Offlc• Wollen8 At Harbour8id• 87 The T•rr•¢• Toryuay TQ11DP We8tcolts {SW) LLP 47 Boulp)rt Shet Bamstspl• d•p•nd•nt E¥•mln•r EX311SQ Pogo 1
Kelth Noel Abraham Charltable Trust Trust3. Report The trustees present the annual reptjrt lopether with the financial $latemenls of the chaflty for the year ended 5 April 2024. ObJgcU¥•8 Ind *ctlvltle8 Objects andalms To promote community partlclpallon In recreallonal •port8 Bonducted through amateur organi5otion8 based in North Devon prlodty belng glven lo the dlstriGls ol Bideford and Bamslaple to inclLKI donatlons lo IndivSduals and prO$10n of lacilili48 and equipment for ¢lubslorganisalions and In •ddllSon promote and Support other registered ¢harllles In pjchlevlng IheSr ch8rltable objectives. Publlc b•n•fit The trustees conflrm that thoy have ¢omplled vAlh tha raqulrements o18eclion 17 of the Charltl•i Act 2011 to have due regard to the publlc ben•fll guldance publlshod by th• Charfty Commlsslon for England and WAte$. Achl•v•m•nl• and p•rfornionc• During the year the ch•illy commenced dl8tdbullng the legacy of Kollh Abraham In Ilne wilh the obl•cliveJ of the Trust. Fln•n¢ial rnvl•w Ouring Ihe year, the charily reG•lved in¢ome lotsNlng £354,037, thls malnly con)l•ted of the r•c•ipl of th• balanco of the legacy from Kellh Abraham'B estste. Exp•ndllura totalltrd £83,886 {2023'. £3,812) Induding grants awarded 01 £57,48512023.' £NIII AB at 6 Aprfl 2024 unre•lrld¢d fundA Stood •1 £320,201 12023,, £29,830). Polky on reserv•a The charfty wa8 Bet up lo dlslrlbulo fundi from the late Kelth Abraham'¥ estate. Grnnll are appliod for Ind distrlbuled Irom these lunds In accordance vAth the charllable oblectlves. Co818 Incurred out8lde of grant distribullon• are mlnimal and go Iho Iruslees do not feel a resems pdiGy Is neGe5$ary. structur•• gov•rnanc• and man•g•m•nt Natyr• olgov•mlng documon¢ The ¢harlty Is govemed by118 Trusl Deed dated 22 January 2010. Racmltment •ndappolntnT•nt ol ¢rust•es New Trustees are appdnted by a resolulon p888ed al a properly convened meetlng of the chadty Trustees. Page 2
Keith Noel Abraham Charitable Trust Trustses, Report (continued) Statwn•n¢ of Tru¥te•¥' R6sponilbllltle• The trustees are responsible for prepallng the trustees, report and the financial statements in accordance vAth the Unllèd Klngdom Accounting Standards Iunlled Kingdom Generalty Accepted Accountlng Pracllce) and appllc8ble law Bnd regulations. The law applic10 lo thariues requlres the Iru8lee8 lo prepare financial slalements for each fln8nclal year vthlch givts a true and falr vléw of thè slate of •ffalrs of the chadty and of the Incomlng resources and applbeatlon ol re50urceJ of the charlty for that perlod. In pparing these ffn8ncAal slalemenl8, the tru8tee6 8r& r•qulred lo.. Jeltsct Sullable accountlng policles and than apply them con51¥lently, observe the methods and PTindple8 In the Charitles SORP,. make ludgamenls and eslimateg that a reasonable and prudenl., t• wler applicabl¢ accounting 8tand8rds h•ve been followed, subject to uny malerl•l departures dl8do8•d and explgined In the financlal $lal¢ments'. #nd prep•re the financlal statements on the going concem b•8lJ unless It Is Inappropriate to presum? thil the ch8Tity vlll contlnue In bu3inei¥. The truil•ei reipon$Sbl• for keeping prop•r accounllng record8 that dl•cloBtr wlth reasonable accuracy al 8ny 1Smo the f5n4ndal po$illon of the chgrlty and enable them lo ensure that th? flngnclal alatemenls comply wlth the Charitle8 AGI 2011, the Charille¥ (Account8 and Report$l RggulaUon8 2008, gnd the provIOn9 ol th? con5trtulion. Th• trustee8 ar& a180 respon8lble for Sofeguardlng the A88els of the charfly and hence for taking reasonable Ilepg for tho prevention and detedion of frnud nd other lff¢gularllig$. The IruBlees are responsible for the maintenance 8nd inlegrlty of the corporate and financial Infomialion included on the charllable company'8 webslle. Legl8laUon gevemlng the preparallon and 018MnatIOn of ff nanclal glatemenls may dlffer from leglslatlon In olherlurlsdlctlons. The annual roport was approved by the trustees of the ¢h8rfty on behalf by.. and slgned on Its ex Trust dra Charlotte Jenklns Page 3
Keith Noel Abraham Charitable Trust Independent Examinevs Report to the trustees of Kelth Noel Abraham Charltsble Trust I rep to the trustee8 on my examination of thè accounts of Kelih Noel Abraham Charitsble Trust for the year ended 5 Aprll 2024. R•$pon•lbllltl•s and ba•1$ of report A8 the charlty trustee8 of Kellh Noel Abraham Charttable Trust YOU 8re respon8ible lor the preparath)n of the accounts In accordance th the Tequirement8 of the Charftieg Act 2011 1'lh• Acl'l. I report In respect of my examinaon of the Kelth Noel Abraham Chjritable TnJ8f8 ¥¢counls carrled out under secllon 145 of the 2011 Act and in carrylng out my examlnallon I hgve followed all the applicable Directy'ons given by the Charlty Commi88ion under section 14515)Ib) of the Act. Ind•p&nd•nt •xamlner'• statem•nt Since Keith Noel Abraham Charllable Tw$l's groB8 Incfffi)e exceeded £250,000 your examlner rnu$t be a member of 8 body Ilsled In 88cllon 145 of the 2011 Act. I confirm that l om qualified lo und•rtoke thè examlnallon because l am • member ol ICAEW, whSch Is on• of Ihe118t•d bodles. I have Completed my examination. I conflrm Ih8t no malerlAI m8ller8 have come lo my attonllon In conn•ction wth the examlnallon givlng me cAu8e to b8lleve that In any materi41 r•8p•ci". l. Accounllng records wer• not kept In TQiPeCt ol Kelth Noel Abraham Charit8blè Truil •• Ywuired by 8ecllon 130 of the Act.. or 2. the 8ccounts do not gccord wlth th080 record•.' or 3, th¢ accounts do not comply th the •ccounllng requSremenl8 ¢oncernlng th• foTm and conl&nt ol Accounts sel out In the Charllles (Accountj and Report8) Regulat5ons 200B o¢her than any roqulremenl th81 the 8ccounl$ 95ve a 'true and falr Vie thlch18 not a matter nsIdered a• part of an Indewndenl examlnatlon. I havè no concem8 and have com• aGro88 no other matters In wnnectlon with the ex8mln8tlon lo Ich attent(on should be drawn In Ihlj report In order lo enable B proper underglandlng of the •ccounls to be reathed. Catherine Wllllams FCA DChA Independent Examinor Westcotts (SWI LLP Bamstaple Devon EX31 1SQ Page 4
Kelth Noel Abraham Charitable Trust Statsment of Flnanclal Activities for the Year Ended S Aprll 2024 Tot•1 2024 Unr•8trlct•d fund• Tot*1 2023 Note Incom• and Endovmi•nts from: Donatlons and legaues In¥e8tmont In¢ome 351,567 2,470 351,567 2,470 Tolal Income 354,037 354.037 Exp•ndltur• on: charItab advillej 83,666 83,866) 3,812 Total expendfture Nfrt kncomel{exp•nd(tur•) Nel movement In fund8 83,666 63.666 3.612 290,371 290,371 3.812 290,371 290.371 {3,6121 R•conclll•tlon of lund• Total fund8 brosjght loThvard Tot81 fund• carded lorward 29.830 29,830 33,442 13 320.201 320 201 29.830 All of the chwlty'i qciMtSe8 deriv• from conllnuing op•r•llon$ durlng the abov• trNo p•rfod•. The funds brnakdown for 202310 ihown In nole 13. The nole5 on pages 7 to 12 fom •n integral part ofthese fin8ncl81 stalemenis. Pago S
K•lth Noel Abraham Charitable Trust (Roglstratlon number: 1141431) Balance Sheet as at S Aprll 2024 2024 2023 Not• Curmnt 10 11 2.470 318 571 Cash at bank and In hlmd 29,830 321,041 29.830 Cr•dltorn: Arnounl• lalllng du• *rfthln on• yoar 12 320 201 Fund• ol th• chirlty: Unr•¥trl¢ted Incom• fund• Unrn8trlcled fund• 320 201 29,830 Total fundB 13 320,201 nandAI 8litements on pages S to 12 wjre •pprov•d by Ihe truitsti, and •uthorf8ed for luue on and 8lgned on Ihelr bfjhalf ty.. lexan Tiujte ra Charfottè Jenkkn• The n¢te8 on pages 7 trj 12 fom) •n integral part of theae financtal st•temenl$. Pag8 8
Kelth Noel Abraham Charitsble Trust Notes to the Financial Statements for the Year Ended 5 Aprll 2024 l Accountlng poll¢le$ statsm•nt of compllanco The finandal slatement$ have btsen prepared In accordance vthth the second edluon of the Ch8ritSes Slalemenl of Recommended Pl8Ce I38ued In October 2019, the Financial Reporting Standard appllcable In th8 Unlled Kingdom and Republlc of IreLqnd (FRS 102) and the Charlts'a8 Act 2011. 8a•S• of pyeparatlon Kelth Noel Abraham Charllable Trnsl meet8 the deflnllion of a public benefil enlily under FRS 102. The acGounl$ lflnBnclal 8latemenl81 have been prepared under the hlsloiical cogt eonventlon wlh Item$ recognised al cost or Iran5aclion value unles• olheNrise 118led In the relevant nolelsl to these accoun18. Th8 flnandal 8lJtements Are prepared in slerting thlch l¥ the functional currèncy of th• chadly, Golng conc•rn The Iruslees conslder that there ar? no mal•rSAI unc•rtolntleJ about the ch4rtly's abllily Ic conllnue 88 a going concern. Incom• •nd •ndowrn•nt• Voluntary Sncome Includlng don*llon8, glft¥. leggcie8 and granta that provide core lundlng or are of general natur• 1$ recognlsed vthen the charlly has enliii•ment to the Income, 11 Is probable Ih8t the Income I11 be reIVed and the amount c8n be meaBured ¥th sufficlenl rellobillty. Donatlons and 1•g•¢h8 Donauons •nd legacles aro recogni$ cn a recolvjble b•818 when recelpl l• probable and the amount can bè rèllobly measured. Inv•8lment Incom• Inve•lment Income l? recopnls•d gnce tho Inler•Jl has been •ccru•d, Exp•ndltur• All expenditure Is rttcognised once there 1$ 8 legal or conslructwe obligation lo that expenditure. il Is probable gelllement Is required ond the amount can be measured rellably. All cog18 are allocated lo the appllcable expenditure heading Ihal aygregale similar costs lo that category. Where costs cannot be dlrectly attrlbuled to P8rtlcular headings they have been allocated on ¥ basis consislenl ¥th the use of resources, wlth central staff costs allo¢aled on the basls of Ilrne spent. 8nd depreclation ch8rges allocated on the portlon ol the asset's ujg. Other 8UPPOrt Costs are allocated based on the 8pread ol staff co818. Charltable a¢tlvlties Charitable ¢xpendilure compn8e8 tho88 Costs incurred by the charfty in the dellvery of Ils activittes and serwces for 115 beneficiaries. It Includes both costs that can be allocated directly to such ac15vllles and those c0818 01 an Indlrect nature necessary lo Jupport them. Page 7
Keith Noel Abraham Charltable Trust Not8s to the Flnanclal Ststements for the Year Ended 5 Aprll 2024 (contlnued) Grnntprovlslon Provisions foi grants are made when ihe Inlenlion lo make a grant ha3 been communlcaled lo the reclplenl but thore is uncertainly about ellher tho timing of the grant or the amount of grant payable. Support co•t Support costs Include central functions and have been allocaled lo actl¥Aty COSt calegortes on a ba$ls con8lalenl wllh the use ol resources, for example, allocaling propèty costs by floor oreas, or per cgptts. st8ff cost8 by the Ilme spenl and other costs by their usage. Taxatlon Th• charlty18 Considered to pajs Ihe le•l8 8trt out In Paragraph I Schedule 8 of Ihe FSnance Act 2010 and therefore It mee¢8 the definlllon ol 8 charllable company for UK corporallon lax purposes. Accordlngly, the charlty 15 polenllally exempl from laxallon In re$pecl ol income or c8Pit81 gains recelved vAthln c8legorle¥ covered by Chapter 3 Part 11 01 the Corporallon Tax Act 2010 or Sècllon 256 of the Toxallon of Chargeable Galnl Act 1992, to Ihfj •xtenl that Such income or galnB are appllèd eXGlu$l1Y lo charttable purpo3•8. Ca•h and c•h •qulvalent• C88h and ca8h equlvBlenls comprlse c8sh on hand and call depo811s, and other short.lemi hlghty liquid Inve51menls that are readily convertlble lo a known amount of cash ond are sutyecl lo én In8lgnmcant rfsk of change In v4lue. Fund •tructur• Unre$tri¢led Income funds are 9eneral funds that are avoilable for ai thè trustees dl¥¢reilon lurth?rance of the obJeGtlve$ of the chaTIIy. Flnanclal Instrument• Cl•ssllk•tlon FlngnolBI a8se15 and finonclal liabilltie8 are recognid then the charlty bewrnej 8 party lo the conlTactu41 provlslons of the Inslwmenl. Flnancial 1labl1ieB and equfty Inslrumenl8 are clas¥lfied accordlng lo the yub¥tance of the contractual arrangmenl$ enlered Into. An equity In51rumenl18 any conlrocl th•t evldence8 4 re8ldual Int•re8t In the 8ssels of the charity after deducfjng all of Its IlabS1ilie8. Page 8
K85th Noel Abraham Charitable Trust Notes to the Flnanclal Statements for the Year Ended 5 Aprll 2024 (contlnued} R•cognition •ndme•sur•m•nt All Ilnanclal assets and Ilabillties are initially measured al transaction price (including tr8nsaction costs), except for those financl81 assets da58lfied a8 01 faSr value through profft or1088, whlch are initially measured al falr value IwhlGh Is normally the Iransadon price exduding transaction Gosts), unless the ariangemenl constllules 8 flnanclng transaGtion. If an arrangement con$litule$ a financlng trBn8a¢tlon, the financlal asset OT financ4al Ilabllity is measured al the present value of the fubJr8 paymants dlscounted at a market rats ol Inlere¥t lor a ilmllar debt Inslrum¢nL Flnanclal assets and Ilabllllle8 are only offset In th& statement of financial position vthen, and only vth•n there exS$ts a legally •nfDrceable right lo 8&t off the recogn13ed amounts and the chadly Intend8 either to 8ètt1& on a net basis, or lo rea118e the a88et and Jèttle the Ilablllty 81multan•ously. Flnandal asJats am deracognlaed en and only wben •) tho conlractu•l rlghts to the cash fl¢) from the fin8nclal as8•1 expire or are settled. bl the chatY transfers lo another paty substsnlially all of the rlsk8 and rewards of ovmership of lh• Ilnandal 888el, or cl the charlty, despite havlng retained lome, It not all, slgnlffic¥nl rf8k8 8nd rewards of Dwner$hSp, has transferred control of the aasel lo another paty. Finandal Ilablwlies Are d•recogniJed only when the obllg*llon •pedfled In th• contract IB dl•charg8d, c8n¢elled or explres. 2 Incom• fvom don•tlon• •nd legacl•• Unr••trlctsd lund• Gonernl Total 21124 Legjdei 351,567 3 Inve•lm•nt Incom• Unre•trlct•d fund G•nernl Total 2024 Inlere&t recelvable on bonk depo 2,470 4 Exp•ndltur• on chavltabh •ctlvl¢l•• Unr•strlct•d funds Genernl Total 2024 Nots (3rant funding of aclivlllej Jlocated aupport co8tS 57,485 6,181 83.666 67,486 6,181 63,666 Pagp 9
Kelth Noel Abraham Charitsble Tnt Noles to tha Flnancial Stat•ments for the Year Endod 5 April 2024 Icontlnued) Unr•¥trlct•d funds G•nfjral Totsl 2023 Mot• Jlocated Support coats 3,612 3,612 6 Anal1# of #upport ¢o•t• 8upport colts •llo¢*t•d to ¢harftsbl• •ctlvltl•s Total 2024 Total 2023 Independent Emmlnallon fe•• Soll¢ltor8 foei 840 6,341 6,181 3,612 3,812 6 Grnnt4n•klng Analy•l• of grint• 8•low are deta118 of m8lerf•l gr•ntB made lo ln8lllutlon8. 2014 2023 N•m• ol Inaututlon Wesll?Igh Crlcket Club 8•mAtaple & Pllton Crlcket Club 84mil•ple Rugty Club Actlvlty 20,000 24.985 12,500 57.485 7 Tru•tsM r•mun•rnilon •nd expgnM• No tru8lee6, nor any por80n8 connected th Ihem, havo received any remunerallon from the charliy dudng the year. No tru8teos have recefved any re1MlrIed expenses or Y other benefi18 from the tharlty during Ihe yèar. Po98 10
Keith Noel Abraham Charitable Trust Notes to the Flnancial Statements for the Year Ended 5 Aprll 2024 (contlnued) I Ind•p•nd•nt •xamin•rf¥ remun•rallon • T•xatlon Th8 ch8rty1s a registered charlty and 58 therefore exempl from taxallon. 10 D•btorn 2024 Accrued Income 2,470 11 Ci•h and cuh oqulval•nt• 2024 2023 Cash al b•nk 318,571 29,830 12 Cv•dltor•'. *mount• falllng du• wlthln on• y••r 2024 Accru•lJ 13 Fund• 8•lttnc• •t 6 Aprll 1023 IncomlDy r••ourc R•#ourGO• •xp•nd•d Bal•nce Qt S Aprll 2024 Unr••tvlct•d lund• G•n•r•l General Fund• 29,a30 354.037 63.886 320,201 8•1on¢• al 6 Awll 2022 Rmourc •xp•nd•d Bal•n¢• •t 6 Aprll 2023 Unr••trlct•d lund• Gener81 Fund¥ 33,442 3.612 29,830 Pag• 11
Keith Noel Abraham Charltabl• TNst Notes to th• Financlal Statsments for th• Yèar Ended S Aprll 2024 (contlnued 14 ANlyilg of not a880ts b•two•n funds Unr¢strlct•d fund8 Genw•l Total fund8 at 5 Aprll 2024 Current a88el8 Currenl Ilabllitlèi 321.041 840 321,041 840 Total net •88•lB 320.201 320,201 Unr••trlct•d fundi G•n•ral Total fund• at 5 Aprfl 2023 CLwrnnl aBselB 29.830 29.830 16 R•l•tod p•rty tran8actlo l)urlng the year thè charity wa8 pald co$1$ totAning £5,341 12023.. £3,600) lo Wolleni. a flm) of solicitor8 In whlch both Trustees aT¢ P•rtnerJ. Pago 12