Charlty reglstratl¢n numbar 1163693 THE BEECHING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BEECHING TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust¢¢8 J Quentin Campbell Ann R Campbell Charity number 1163693 Independent examlnèr Critchleys Audll LLP Beaver House 23-38 Hythe Bridge Street Oxford OX12EP BBnker¥ Barclays PLC Leicester LE87 2BB Investmènt advlsors Close Brothers Asset Management 8th Floor 10 Exchange Square Primerose Street London EC2A2BY
THE BEECHING TRUST CONTENTS Page Tru8tee8' r8port Independent examinevs Teport Stslemènt of finanaal activities Balance sheet Notes to the financial ststements 6-10
THE BEECHING TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual reporl and frnancial statements for the year ended 31 March 2024. The finanual statements have been prepared in accordance with the 8ccounting policies set out In note 1 to the financial statements and cornpty with the charily's goveming document, the Charities Act 2011 and "Acwunting and Reporting by Charities.. Statem8nt of Recommended Practice applicable to tharities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK 8nd Republic ol Ireland IFRS 1021" leffective 1 January 20191. Oblectlves and octlvltles The Beeching Trust was established with the aim of a(fvancing such charitable purposes as thè trkJstee8 from time to time see fil. It 15 a grant giving charity only. The Trust's funds come solely from the settler of ihe trust, Ann Campbell, who 18 one of the fft initial trustees and from Quentin Carnpbell, the other trustee. The trustees adopted a grant making policy in 2016 which they have followed. The trustees make grants where they believe that Ih6ir contribution will m8ke 8 real difference. Since the settioi 8nd trustees live In Oxfordshire applications trorn Oxfordshire are particularfy welcome. Subject to other elem8nls of the trusts grant-rnaking policy, no restrictions are imposed on the purpose for which a grant may be made.. thu5 applicab'ons for support towards capital projects, other projects or core costs are considered. The trustees support the following categorfes.. Arts ani5 heritage Education Environment Heatth Social or economic disadvant8ge The Iruslees do not fund.. Charities outside the UK Expeditions Individuals Political parties Promotlon of religion Animal charities The trustses have paid due regard to guidan issued by the Charlty Commisslon in deading wh818clivit¢'es the charity should undertake.
rHE BEECHING TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 In the year wa5 dJ"5buT5ed to 9 chaTitie5." Oxford Community FLxJThJobon1£15.LNJOI, Q<fovd Leider FèstN81 1£15,0001, H4)py D8ys 1£5,0001, Charti8 Vwdller 1£10,0001. OCVA1£10,0001, Oxfordshire Hotrkss Mov8rn8nt 1£10.CKIOI, Carou8811£10,0001 a1 1£20.1Y)01. The only ¢Yh8r diSbu8m8nt9 Werg on tountaI arxl portfvAio management fe8& Th8 tthl of unr85tricW fvnds was £1,150,04918s 4yJmpwed thlth UFweslriLed Jnd5 of £1,070,e60 at 31 20231. The TnK8t8e5 that thÈ level of is liktrty to be nBedBd to meet dlre( (arftable expendilwe Iprimarfty In the fr)rrn of grants} and m8nagerrMt administration $t$, w5th 8 small arntnt av8&8bl8 for TvJst88s held lh8 asÈets of Ihe twst In )Ianc8 thoir per5 during the year. The Tru5teB5 Itavo solUte ths(elJon to Invest th8 thjnds of the Trust,. fKJ restrk"ons we pla¢d th prywers. The Trustees, pc4iuy for the of investments fDr Ihe charity ks lo seek to 8¢hieve a bala betrM&n hx#)m& and fapitsi grth¥th. Cltsse BrothètA55et Man8g8m8nt rnanag the Fxxifth) on a dlsL¥elk)nay bass. Pollay on Ru•rns In View of the Tru5V5 inry)Tne needs the th&eIle inveslmert etivirtjnmenl owr the last 12 nth$, the Trustees ha& d8tided lo maintain the 0fresenS forth& uJmin9 year& The tru5t885 have no fom)d pdjcy $Ve% Given Ih8t the cknarity is a grant gniing charity 8nd given that it was &stalli5hgd orty in 2015. the trusteès (x)nsid¢r 11 appN)prtate to allow f4JrKls to acujmulate. Latsr, 711 rtsklBrlhi5 question fuIttr 8nd make apoate de(¥sion5. Th& In&st••s assessed ts Thojor iisks to wtdd) thè th•rlty is eXF)80d, and satithd Ihat systems are in Flace to mte to thè Wr risks. Slruotur•, gov•rnan¢• and managwn•nt Th8 tharity Is a rgLoI8 ¢harity, rwJmb8r 1163693. 8ndw88 8stsblish8d by a thed dated 22 Juno 2015. The finaal 5tat8m8nts havè be iYepEd in aLro¥dan with the thwiys goverr#TrJ dOrn8n1 th8 ement ol R8coMnd8d Prar, A¢rxJunting Ond R8F¥Nttng by Charili8 Its princ4pal addre55 is 12 Perk Town, Oxford OX2 6SH. Th8 88hing Tntst wa5 grwthd ChBritabl8 Stats on Septemter2015. Th¢ tru5t985 s8N8d dwing the year and up to sjato of gnate(th6llTr1 5tatMtsw*r8". J Quentin C8mpbell Ann R CamKkndl Ann R Can
THE BEECHING TRUST CRITCHLEYS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BEECHING TRUST I report the trustees on my examination of the financial slalements of The Beeching Trust {the charity) for the year ended 31 March 2024. Re5pon8ibilitles and bas18 of report As the trustees ol the charity you are responsiblo for the pparatIOn of the financi81 $181emenls in accordance with the requirements of the Charities Act 2011 (the 2011 Acti. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my exarnination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of thè 2011 Act. Indapèndent examlnerfs statèment I have cotnpleled my examination. I confirrn that no matters have come to my attention in connection with the examination giving rne cause to believe that in any rnalerial respect.. accounting records were not kept in respect of the charily as required by section 130 of the 2011 Ad", or the financial statements do not accord with those iecords.. or the financial slaternents do not comply with the applicable requirements px)nceming the form and content of accoutTrt5 Set out in the Charities (Account5 and Reports) Regulations 2008 othei Ih8n any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examir¢ation. I have no concerns and have come across no other matters in connection with the examination to which attenb'on should be drawn in this report in older to enable a proper understanding of the financial statements to be reached. Robert Klrtland FCA Crltchleys Audit LLP Beavei House 23-38 Hythe Bridge Street Oxford OX12EP Dated.. 181612024
THE BEECHING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Capltal fund Income fundg Total Total 2024 2024 2024 2023 Nots¥ Income from.. Donations Investments 90,341 90,341 24,722 115,090 27,115 24.722 Total Income 90,341 24.722 115,(3 142,205 Ex endlturg on: Raising funds 7,947 7,947 7.599 Ch8rttable activities 2,200 95,000 97,200 123,000 Totsl expendlture 10,147 95,000 105,147 130,599 Net gainslllossesl on investments 69,473 69,473 168,7401 Net IncornlnglloutgoSngl resources before transfers 149,667 170,2781 79,389 157,1341 Grgss transfers been funds 169.972} 89,972 Net movement In funds 79,695 13061 79,389 157.134} Fund balances al 1 April 2023 1.075,101 14,4411 1,070,660 1.127.794 Fund balances at 31 Mareh 2024 1,154,796 14.7471 1,150,049 1.070,660 The statement of financial actimties includes all galns and losses recognised in the year. The statement of financial activities indude5 811 gains and10sse5 recognised in tho year. All iricome and expenditure derive from conbnuin9 activities.
THE BEECHING TRUST BALANCE SHEEr AS AT31 MARCH 2024 2024 Flx•d 488•ts 11 1.154,796 1,075.101 Cury•ntaBB•ts Cash at bsnk and in haThJ 332 r•dttor8'. 4mounts falllng thJ• wlthln ono yoar 12 {5,0791 14.T131 NetcJJrFerrt liatilths 14.74n {4,4411 1.150,049 1.070.660 Inujmefund Caprtal fund 14,747) 1,154,798 14,441} 1.075,101 1,150,049 1.070.680 Tte financlal 5tatement5 apwo¥ed by th8 TnAst88s on .. . . ...... ....... ...... Am R Campb81
THE BEECHING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policie• Charity informatlon The Beeching Trus¢ is a registered charty established by a deed d8ted 22 June 2015. 1,1 Accountlng convèntlon The charfty constitutes a public benefit entrty as described by FRS 102. The financial statements have been Prepared in accordance with Accounting and Reporting by Charities. Ststement ol Recommended Praotice 8pp1icable to ch8Tities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014, the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS 1021. the Charities Act 2011. The financial statement5 are prepared on a going concern basis under the historical cost conventson, modlfied to include certain ilern5 at fair value. The financial statements are prèpared in sterling which is the functional currenry of the charity The financial statements are preparèd in sterling, which is the functional currency of the ch8rlty. Monetary amounts in these financial s18lements are rounded lo the nearest £. 1.2 Golng concern Al the b'me of approwng the ffinancial statements, the Iru5tees have a reasonable expectation that the charity has adequate resources to contlnue in operation81 exlstence lor the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting In preparing the financial staternents. 1.3 Charitable funds Unrestricted funds a available to spend on actlvilies ihat furtheT any of the putposes of charty. Designated funds are unrestricted funds ol the charity which the Iruslees have decided at their dis(xetion to set aslde to use lor a specific purpose. Restricted funds are donations which the donor has specified are to be 501ely used for particular areas of the Trust's work or lor speufic projects being undert8ken by the Trust. All funds are considered to be unrestricted. The endowment fijnd 15 expendable endowment and the trust deed allows this fund to be spent as income or retained capital at the trustees, discretion. The income arising ffom the expendable endowment is unrestricted. 1.4 Incomo Income is recognised on a receivable b8sls and are reported gross of related expendrture, where the amounts are reasonably certain and when there is adequate certainty of receipt. Investment income. logether wilh the associated tsx credit, is recognised when recewed. 1.5 Expendlture Expendbture is accounted for an acc¥uals ba515 and gross of any r81ated income. They are dassified under headings that aggregate all costs related to the category. Where costs cannot bts dlrectly attributed to particular headillg5. they have been allocated to activities on a basis consislent with the use of resources. Costs t)1 generating funds comprise the costs associated wilh income generation vi8 the investment porttolio Cost of charitable activity comprises direct expenditure induding grants. INhere costs cannot be direclty attributed, they have been allocated to activities on a basis consistent with the use of resources. Expenditure on grants is recorded once the TTUSt has made an unconditional comrnrtment to pay the grant and this is comrnunicated lo the benefici8ry or the grant has been paid. whichever is the earfior. Governance c05t5 include those costs, such as Independent examiner's fees, assoriated with conslilution81 and statutory requiTements.
THE BEECHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aecountlng pollel•8 Icontlnuedl 1.6 Fixed asset investments Investments are included in the balance sheet at market value. G8ln8 of losses arising on revaluation to m81ket value are credited or charged in the Slat8rnent of Financial Activities as they arise. 1.7 Taxation The trust is a registered charity and accordingly Is exempt from taxation on its income and gains where they are applied for charitable purposes. Crltleal accounting esilmat8s and judgements In the applicats.on of the charity's accounting policies, the trustees are required to make judgements, estimate5 8nd assurnptions about the carrying arnounl of assets and liabilib'es that are not readily apparenl from other sources. The estimat85 and associaterj assurnptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimate5. The estim8tes and undertying assumptions are revlewed on an ongolng basis. Revisions to accounting estimales are recognised in the period in which the estlm8te 15 revised wheTe the revision affects only that period, or in the period of the revision and future periods wh8Te Ihe revision affects both current and future periods. Investments Investments are measured at the faiT V81ue of the asset held. Investments have a degree of judgement involved in determinlng the market value to apply. The value tsf the investments as at 31 March 2024 is £1,154.79612023.' £1,075,101). Donatlons Unrestricted Unrestricted funds funds 2024 2023 Shares, at falr value at date of transfer 90,341 115,090 Investments Unr•strlcted UnrestrScted funds funds 2024 2023 Dmdend income on portfolio 24,722 27.115
THE BEECHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raislng funds Unrestrleted Unrestrictad funds funds 2024 2023 Portfolio management 7,947 7,599 7.947 7,599 Charltable actlvitieg Total 2024 Total 2023 Grant fvnding of activities Share ol govemance costs 95,000 2,200 120.000 3,000 97,200 123,000 Grants payable Total 2024 Total 2023 Oxfordshlre Community Foundation Wadham College Oxford Lelder Ltd Abingdon Carous&l Charlie Waller Cost of Living Fund Happy Days Oxfordshire Homeless Movement Tax Volunteer (Tax Help for older people) OCVA Orchestra of St John. Root and Branch Barton Cotnmunity Association Cruse Oxlordshire RAF Benevolent Fund The Porch Young Enterprise ARCH 15,000 20,000 15,OCKJ 10,OLMJ 10,000 20,000 15,OLXJ 25.000 5.000 10,000 5.000 10,000 10,000 5,000 5,000 5,000 5,000 5,000 5,OlY) 5,OLX) 10,000 95,000 120,000
THE BEECHING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the trustees lor any persons connected wlh them) receNed any remunerab'on or benefits from the Charity during the year. Employee8 There were no employees in the year ended 31 March 202412023.. Nil) There were no employees whose annual remuneration was more than £60,000. 10 Taxatlon The charity is exempt from taxation on Its adivity'e8 because all its Income is 8pplied for charitable purpose5. 11 Flxod a5S8t Investments Investments Cash in portfollo Total Cost or valuation At 1 April 2023 Additions ValuatSon changes Cash movements Disposals 1,064.342 115.258 69,473 10,759 195.1951 1,075,101 20,063 69,473 19,8411 19.8411 102.784 1102,7841 At 31 March 2024 1,146,289 8,507 1,154,798 Canying amount At 31 March 2024 1,146.289 8,507 1,154.796 At 31 March 2023 1,rfi4,342 10.759 1.075,101 12 Credltors: amounts falllng due wlthln onè year 2024 2023 Acctuals 5,079 4.773
THE BEECHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Unrestrfcted funds The unrestricted funds of the charity comprise the unexpended ljalances of don8tlons and grants which are not subject10 Specific conditions by donors and grantors as lo how they m3y be used. These include designated funds which have been Set aside out of unreslricted fuTrds by the trustees for specific purposes. At 1 April 2023 Incomlng rÈsourees Resources expended Transfers Gain$ anij At 31 March 108ses 2024 General funds 1.075,101 90,341 110,1471 169,9721 69.473 1,154,796 Prevlous year: At l Aprfl 2022 Incorning r•sources Resources expended Transfers Galns and At 31 March losses 2023 General tunds 1,131,138 115,090 110.599 191,788} {68,7401 1,075,101 14 Analysls of nèt assets between funds Capital funds Income funds 2024 2024 Total Capital fvnds Income funds 2024 2023 2023 Tol81 2023 Fund balance5 at 31 March 2024 are represellted by.. Investments Current aets1(liabllltiesI 1.154.7 1,154,796 14,7471 1,075,101 1,075,101 14,4411 14,7471 14.4411 1,154,796 14,7471 1,150,049 1,075,101 14.4411 1,070,660 15 Ralatad party transaction$ There were no disd05ablè related party transactions during the year12023- none). 10-