Charity number: 1148325 THE KILDARE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 THE KILDARE TRUST CONTENTS Page Reference and administrative detai15 of the Charity, it5 Trustees and advisor5 Trustees, report Independent examiner's report on the financial statements Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 8-16 THE I(ILDARE TRUST REFERENCE AND ArJMINisfRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE5 AND ADVISERS FOR THE YEAR ENDED 5 P.PRIL 20?.5 Trustees Mr Anthony Champion Mr Martin Needham Ms Dawn Oliver Mr Geoffrey Probert Mr lan Smith Charity registered number 1148325 Principal office Pear Tree Cottage Yarrington Road Alfrick Worcestershire WR6 SEX Independent examiners Curo Professional Services Ltd Westonhall Road stoke Prior Brornsgrove Wtsrcestershire B60 4AL Sollcitors Harrison Clark Rickerbys 5 Deansway Worcester WRI 2JG Page | I TklE KILDARE TRUST TP,USTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report together with the flnancial statements of the Charity for the year 6 April 2024 to 5 April 2025. Objectives and activities al Policies and objectives The principal objective of the Charlty is to provide financlal support to charities witliin the Herefordshire and Worcestershire area. All our charitable activities are undertaken to further our charitable purposes for public benefit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance publislied by the Cliarity Commi55ion relating to public benefit, including tlie guidance 'Public benefit.- running a charity IPB21' bl Activities undertaken to achieve obSectlves We aim to achieve our objectives by.. Making grants to charitable organisations. Provldlng other financial as515tance. Achievements and performance al Investment policy and performance The Tru5tee5 h3VE determined that the funds available to the charity are sufflcient for the day to dav running of the charity. Unles5 there is a significant increase in reserves the charity will retain all fund5 in the current account that are not invested in the stock market. Financial Review al Going concern Due to the depletion of the trust's assets it has been decided to allocate it's remaining funds and wind up the trust within the next 12 moF)ths. bl Reserves policy The Trustees have reviewed the charittys needs for reserves in line with the guidance issued by the Charity Commi55ion. The Trustees believe that approximately £IOO,000 was required to ensLJre the charity cali run eff iciently and continue to meet its objectives in the event of a loss of significant Income streams, for approximately 12 months. Thi5 figure is based on current administrative expenditure levels. and also takes into account costs of winding down the or8aiiisation. The charity currently has free reserves of £1,331,96412024: £2,951,930),. of this amount £754,64412024'. £2,591,964) is held in listed investments. cl Review of activities Income received from donations and investments amounted to £93,23912024.' £415,180); expenditure amounted to £1,762,61212024.' £4,392,561). A deficit Was incurred at year end of £1,619,96612024'. £3.951,3031 after net gain on investment of £49,40712023.' £26,078). Page | 2 THE KILDARE TRUST TRU51-EES' P,EPORT FOR I'HE YEAR ENDED 5 APRIL 2025 dl Principal funding There were no 5egacies received during the year, however the trust received the final legacy payment of £44,322 in M3y 2025. £300,179 was received last year in addition to the legacy of £5,179,113 re￿1ve(s the prevlous year from Mrs Phyllis Richards. Prior lo that there had a150 been donations from Mrs Phyllis Richards and a legécy from Sheila Agiies Taii"an. Structurei governance and management a) Constitution The Kildare Trust is a reglstered charity. number 1148325, and is constituted under a Trust deed. The principal object of the charitv 15 to provide financial support for charities in the Herefordshire and Worcestershire Brea, as ihe Trustees in their discretion may think fit. bl Methods of appointment or election of Trustees The manaÉement of the charity is the ¥esponsibility of the Trustees who a￿ elected or co-opted under the terms of the Trust deed. c) Organlsational structure and decision-making policies The Trustees of the charity wlio held office during the financial period and at the dète of this report are set out on page l. At Trustees, meet￿ngs, the Trustees agree the broad strategy and areas of activity for the charitv, includfjng consideration of grant making, investment, reserves and risk manageiment pollcies and performaiice. The day to day adtninistration of grants and the process of handling of applications is carried out by tlie Trustees. dl Policies adopted for the inductlon and training of Trustees New Trustees tjndergo orientation of the services that the charitv PTovides to allow them to understand the diversity of the organisatioTr, in addition to this, Trustees undertake training on an ongoing basS5 as required. el Financial risk management The Trustees have assessed the major rlsks to which the Charity Is exposed in particular those related to the operations and finances of the Charity. and are satlsfied that systeirs and procedures are In place to mitigate exposure to the major risks. Plans for future periods The trustee plan to distribute the trust's remaining assets within the next 12 Inonth5 and wind up tlie Irust. Approved by the Trustees and signed on their behalf bv: Mi. lan Smith TrL15teo Date: 0410912025 Page | 3 THE I(ILDARE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KILDARE TRUST Independent Examiner's Rèport to the Trustee5 of The Kildare Tyust I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2025 which are set out on pages I to 16. Responsibilitie5 and basis of report As the charity's trustees you are responsible for the preparatiori Df the accounts Sn accordan￿ with the requirement5 of the Charities Act 20111'the Act'l. I report in ¥espect of my examination of the charittys accountg carried out under section 145 of the Act and in carrying out my exaTllination I have followed all the applicable Directions given by the Charily Commission under section 1451511bl of the Act. Independent examiner'5 Statèment I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examinatlon. I confirm that no rnaterial matters have come to my attention in connection wlth the examination giving me cause to believe that in any matellal respect.. accounting ￿e0rdS were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerninÈ the form and content of accounts set out in the Charitie5 IAccounts and Reports) Regulations 200 other than any reqvirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name.. Anna Madden Relevant professional qualification or body: FCA For and on behalf of: Curo Professional Service5 Ltd Address.. Curo Chartered Accoulltants, Curo House, Greenbox, Weston Hall Road, Stoke Prior, Bromsgrove, Worcestershire, B60 4AL Date: */q1￿[g Page | 4 THE KILf)ARE TRUST STATEMINT OF FINANCIAL ACTIVITIES FOR TI4E YEAR ENDED 5 APRIL 2025 Unrestricted funds 2025 Total f und5 2025 Total funds 2024 Note INCOME FROM; Donations and legacies Investments TOTAL INCOME 44,322 48,917 93,239 44,322 48,917 93,239 300,179 115,001 415,180 EXPENDITURE ON: Charitable activities TOTAL EXPENDITURE 1,762,612 1,762,612 1,762,612 1,762,612 4,392,561 4,392,561 Net gains/llossesl on investments NET MOVEMENT IN FUNDS 24 49.407 49,407 11,619,966) 11,619,966) 26,078 13,951,303) RECONCILIATION OF FUNDS: Total funds brouglit forward Net movement of funds TOTAL FUND5 CARRIED FORWARD 2,951,930 2,951,930 11,619,966) 11,619,966} 6,903,233 13,951,303) 1,331,964 1,331,964 2,951,930 The Statement of Financial Activities includes all gains and105ses recognised in the year. The notes or) pages 11 to 16 form part of these financial statements. Page | S THE KILDARE TRUST BALANCE SHEIT AS AT 5 APRIL 2025 ?.025 2024 Note rixED ASSETS Investments 2,591,964 2,591,964 CURRENT ASSETS Assets held for sale Cash at bank and in hand Debtors 12 754,644 722,771 44,322 1,521,737 64,031 300,000 364,031 Creditor5'. amounts falling due within one year 13 {1119,7731 14,0651 NET CURRENT ASSETS 1,331,964 359,966 TOTAL ASSETS LESS CURRENT LIABIL5TIIS 1,331,964 2,951,930 Creditors.. amounts falling due after more than l year TOTAL NET ASSETS 1,331.964 2,951,930 CHARITY FUNDS Restricted funds Uni"estricted funds TOTAL FUNDS 15 1,331,964 1,331,964 2,951,930 2,951,930 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr lan Smith Trustee Date.. 0410912025 The notes on page5 11 to 16 form part of these financial statements. Paee | 6 Tr-HE KILDARE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2.02.5 Notes 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net cash lused inllprovided by operating activities CASH FLOWS FROM INVESTIN(i ACTIVITIES Dividends and interest from investment5 Proceeds from 5Bles of investments Purchase of investment5 17 11,276,904) 14,400,017) 48,917 2,185,594 1298,8671 115,001 2,446,027 11,001,4541 12 NET CASH PROVIDED (USED INI/BY INVESTING ACTIVITIES 1,935,644 1,559,574 CASH FLOWS FROM FINANCING ArfiviTIES NET CASH PROVIDED BY FINANCING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at the beginning of the year 658,740 12,840,443) 64,031 2.904,474 CASH AND CASH EQUIVALENTS ATTHE END OF THE YEAR 722,771 64,031 The notes on pages 11 to 16 form part of these financial statement5. Page | 7 TklE KILDARE TRUST NOTES TO THE FINANCIAL STATFMENTS FOR T14E YEAR INDED S APRIL 2025 I. GENERAL INFORMAI-ION The Kildare Trust is an uniiicorporated charity, the principal off ice is Peèr Ti'ee Cottage, Yarrington Road, Alfrick, Worcestershire, WR6 SEX. The charity's presentational currency is GBP. The financial statements are rounded to the nearest GBP. 2. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial stdtements have been prepared ill accordance with the Charitles SORP IFRS 1021- Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Re.public of Ireland IFRS 1021 (effective I january 20191, the Financial Reporting Standard applicak)le in the UK and Republlc of Ireland IFRS 1021 and the Charities Act 2011. The Kildare Trust meets the definition of a public benefit entity under FRS 102. A55ets and Itahilities are iiiitially recoBnised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 GOING CONCERN The Trustees expect to allocate the trust's assets within the next 12 months and therefore the trust is no longer considered a going concern. 2.3 INCOME All income is recognised once the Charity hag entiilement to the income, it is probable that ihe income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on e5tablisliing entitlement, the probability of receipt and the abillty to estimate with suff Icient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has suff icienl evidence that a gift has been left to them Ithrough kiiowled8e of the existence of a valid will and the death of the benefactoi'l and the executor is satisfied that the propeily in question will not be required to satisfy claims in the estate. Receipt of a legacy Nust be recogiiised when it 15 probable tliat it will be received aiid tlie falr value of the amount reteivable, which will generally be the expecled cash amount to be distributed to the Cliarity, can be reliably measured. Income tax recoverable in relation to investment income Is recognised at tl)e time the investment incoine 15 receivable. 2.4 EXPENDITURE Ixpenditui"e is recogiiised once tliere 15 a leg31 or con5trLlrtfve obligation to transfer econoinic benel'il to a third party, it is probable thic t a transfer of ecoiiomic benefits will be I'equired in settlemenl aiid the amount of the obligation can be measured reliably. Expenditure 15 classified Pa8e | 8 TFIE I