2025-03-31-accounts

Charity registration number 1163693 (England and Wales)

THE BEECHING TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE BEECHING TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	J Quentin Campbell
	Ann R Campbell
Charity number	1163693
Independent examiner	Gravita Audit Oxford LLP
	First Floor, Park Central
	40-41 Park End Street
	Oxford
	OX1 1JD
Bankers	Barclays PLC
	Leicester
	LE87 2BB
Investment advisors	Close Brothers Asset Management
	8th Floor
	10 Exchange Square
	Primerose Street
	London
	EC2A 2BY

THE BEECHING TRUST

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 - 11

THE BEECHING TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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).

Objectives and activities

The Beeching Trust was established with the aim of advancing such charitable purposes as the trustees from time to time see fit. It is a grant giving charity only.

The Trust’s funds come solely from the settler of the trust, Ann Campbell, who is one of the two initial trustees and from Quentin Campbell, the other trustee.

The trustees adopted a grant making policy in 2016 which they have followed.

The trustees make grants where they believe that their contribution will make a real difference.

Since the settlor and trustees live in Oxfordshire applications from Oxfordshire are particularly welcome.

Subject to other elements of the trusts grant-making policy, no restrictions are imposed on the purpose for which a grant may be made: thus applications for support towards capital projects, other projects or core costs are considered.

The trustees support the following categories:

• Arts and heritage

• Education

• Environment

• Health

• Social or economic disadvantage

The trustees do not fund:

• Charities outside the UK

• Expeditions

• Individuals

• Political parties

• Promotion of religion

• Animal charities

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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IE BEECHING TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 FlnanGlal rèvlv In the year £165,fAIO was disbursed to 16 c8ribes". College 1£20.OW), Home Stwt SLth OXf￿lshirQ 1£10,0001, Crisis1£10,0001, Oxfordslire Y(xrth I£10,￿)01. UffjlL)Jy Car￿f Research and Car$ 1£10.0001, Music for Aub"sm <£10,000). Oxford lnternakn.onal Song Festival (£20,000) Oxl(ffd C(xnmLnity FouThJalion for Age Friendly Banbury {£15,(N)01. oXf￿dshIIe corr￿nIty FouThlats"on kn Ihe Th¥iviThJ in Nature FuThY £20,IX)01. Gewng Court (£5,000), Soundabout to supwrt the Oxford and BeY￿d Chu'r 1£S,0001. Cruse Oxfordshire 1£10,0001, Raw shop 1£5,0001. Bridewdl Ganlens 1£5,OlJOI, ￿tte￿ Owa Fesb"v81 {£5,000) and Oxford Playhouse 1£5,0001. The C￿lY other disbursements on ￿￿nIanCY a￿1 FmtfoI￿ managèment f8e5. The level of unr8stn.cted fiArJs was £1.074.094 (as txrfnpared with unresbKt8d fijnds of £1,150.049 #t 31 March 20241. The Trusteès cthishler that Iwel of incA)m¥ k8 likely to n8eded to mèèt direct th8rilable experKlllure (primarily in th• form ol grnntsl a￿1 rnanw￿ aTrJ 4￿M￿lstrat￿￿ ¢4)sls, with a small arr￿Unt available for o)ntingenags. Tnths hdd th• assots ol lh• tntst in ￿1th p¢•hws dwing tho year. The ha￿ absolLrta iscrotson to invest th• funds of the Twust, no restnc4ws are ￿aCed on these powers. The Trustees. policy for the selethon of investThnts for the chanty is 10 $8ek to achieve a balanc bsts￿n income and capitsl growth. Close Broth8rA5SOt Management manages th8 pNtfolH) on a discrets'onwy basis. Poll¢y on R•8•rv•• In view of the Trusys irK%wne needs ￿ th8 tharwbb investment ¢nvlronmont obv the last 12 months, the Trustees h¥w d8u.ded to main￿n level of reswv8s for the cryniNJ y8ars The tru5t¢os have no fomwl Wky on reseryes. GI1￿ that th8 dianty is a grant githg ¢anty only and given that was •slablished onty in 2015, the trust8ès consider it 8pproWe to •ll¢x funds to awnwlale. Later, they vlll con5Kl¢r this questK￿ fUrt￿r and make appropr￿1 decasions The trustees havo ass8ssed the rrAjor risks to fvch th• ¢+b￿ is expo￿. and are s•ts'sfi•J that systsm$ aro In ae8 to mitigate exF)sur• to the major risks. Struetur•, gov•rn•no• #nd m*naq•m•vrt The d)arty is a registered ehanty. number 1163693. and wa5 est￿lIshed by a d8¢d da￿￿ 22 Jun• 2015. Thè financial StateM￿lS have ljeen preparèd in aco)rd•rK• wth thè govemkng d0￿ment and the statement of RecJ)mmend¢d Prkn. Acc¥)untirvJ aThJ ReportiThJ by Chariti85. Its pnhclpal address is 12 Park TLWM. Oxford OX2 6SH. 8egthing Trust wa5 Chaiitablti slabjs on 22 SeO¢mber 2015. The trustees who seT¥¢d dl￿ng the year up to the date of signkn oftho finan(•al ststwmnts were.. J Quenb"n Campbell Ann R CamF4)ell The trustees. rewt was aptxoved by tho Bowd ofTnJsl¢eS. Ann R Camptell

THE BEECHING TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BEECHING TRUST

I report to the trustees on my examination of the financial statements of The Beeching Trust (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

• I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Peter Foley ACA Gravita Audit Oxford LLP

First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Date: ............................04 June 2025

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THE BEECHING TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Notes Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities 6 Total expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds 8 Reconciliation of funds: Fund balances at 1 April 2024 Fund balances at 31 March 2025	Capital funds 2025 £ 78,638 - 78,638 8,005 3,000 11,005 (2,317) 65,316 (141,408) (76,092) 1,154,796 1,078,704	Income funds 2025 £ - 23,729 23,729 - 165,000 165,000 - (141,271) 141,408 137 (4,747) (4,610)	Total 2025 £ 78,638 23,729 102,367 8,005 168,000 176,005 (2,317) (75,955) - (75,955) 1,150,049 1,074,094	Total 2024 £ 90,341 24,722
				115,063
				7,947 97,200
				105,147
				69,473
				79,389 -
				79,389 1,070,660
				1,150,049

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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AE BEECHING TRUST BALANCE SHEEr ASAT31 MARCH 2025 12 1.078.704 1.154.796 Ca 81 bank in har 332 Crndltors: amoubts falllNJ du• wlthln on• 13 (4.942) (5.079) Cu￿entI1•￿lrflBs (4,610) 14,7471 T¢)tl a•••t• l•• ¢urv•nt IlalAlItI•• 1,074,0 1.150,049 UThrotrlat•d fvnds Income fund Captal fund (4,610) 1,078.704 14,7471 1.154.7 1,074,094 1,150,049 0310612025 Ann R Campbell

THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

The Beeching Trust is a registered charity established by a deed dated 22 June 2015.

1.1 Accounting convention

The charity constitutes a public benefit entity as described by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust’s work or for specific projects being undertaken by the Trust.

All funds are considered to be unrestricted.

The endowment fund is expendable endowment and the trust deed allows this fund to be spent as income or retained capital at the trustees’ discretion. The income arising from the expendable endowment is unrestricted.

1.4 Income

Income is recognised on a receivable basis and are reported gross of related expenditure, where the amounts are reasonably certain and when there is adequate certainty of receipt.

Investment income, together with the associated tax credit, is recognised when received.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and gross of any related income. They are classified under headings that aggregate all costs 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.

• Costs of generating funds comprise the costs associated with income generation via the investment portfolio

• Cost of charitable activity comprises direct expenditure including grants. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources.

• Expenditure on grants is recorded once the Trust has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is the earlier.

• Governance costs include those costs, such as Independent examiner’s fees, associated with constitutional and statutory requirements.

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THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.6 Fixed asset investments

Investments are included in the balance sheet at market value. Gains or losses arising on revaluation to market value are credited or charged in the Statement 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.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments

Investments are measured at the fair value of the asset held. Investments have a degree of judgement involved in determining the market value to apply. The value of the investments as at 31 March 2025 is £1,078,704 (2024: £1,154,796).

3 Donations

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Shares, at fair value at date of transfer	78,638	90,341

4 Investments

	**Unrestricted **	Unrestricted
	funds	funds
	2025	2024
	£	£
Dividend income on portfolio	23,729	24,722

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THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Raising funds

		Unrestricted	Unrestricted
		funds	funds
		2025	2024
		£	£
	Portfolio management	8,005	7,947
		8,005	7,947
6	Charitable activities
		Total	Total
		2025	2024
		£	£
	Grant funding of activities	165,000	95,000
	Share of governance costs	3,000	2,200
		168,000	97,200

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THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Grants payable

Oxfordshire Community Foundation for Age Friendly Banbury Wadham College Oxford Leider Ltd Abingdon Carousel Charlie Waller Crisis Happy Days Oxfordshire Homeless Movement Home Start Southern Oxfordshire Oxfordshire Youth Urology Cancer Research and Education (UCARE) Music for Autism OCVA Oxford International Song Festival Oxfordshire Community Foundation for Thriving in Nature Fund Getting Court Soundabout Cruse Oxfordshire Raw Workshop Bridewell Gardens Waterperry Opera Festival Oxford Playhouse 8 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements	Total 2025 £ 15,000 20,000 - - - 10,000 - - 10,000 10,000 10,000 10,000 - 20,000 20,000 5,000 5,000 10,000 5,000 5,000 5,000 5,000 165,000 2025 £ 3,000	Total 2024 £ 15,000 20,000 15,000 10,000 10,000 - 5,000 10,000 - - - - 10,000 - - - - - - - - -
		95,000
		2024 £ 3,000

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

There were no employees in the year ended 31 March 2025 (2024: Nil)

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

12 Fixed asset investments

Investments £ Cost or valuation At 1 April 2024 1,146,289 Additions 78,637 Valuation changes (2,317) Cash movements - Disposals (149,893) At 31 March 2025 1,072,716 Carrying amount At 31 March 2025 1,072,716 At 31 March 2024 1,146,289 Creditors: amounts falling due within one year Accruals	Cash in portfolio 8,507 - - (2,519) - 5,988 5,988 8,507 2025 £ 4,942	Total £ 1,154,796 78,637 (2,317) (2,519) (149,893) 1,078,704 1,078,704 1,154,796 2024 £ 5,079

13 Creditors: amounts falling due within one year

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds Previous year: General funds	At 1 April 2024 Incoming resources Resources expended £ £ £ 1,154,796 78,638 (11,005) At 1 April 2023 Incoming resources Resources expended £ £ £ 1,075,101 90,341 (10,147)	Transfers Gains and losses At 31 March 2025 £ £ £ (141,408) (2,317) 1,078,704 Transfers Gains and losses At 31 March 2024 £ £ £ (69,972) 69,473 1,154,796

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THE BEECHING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Analysis of net assets between funds Capital funds 2025 £ Fund balances at 31 March 2025 are represented by: Investments 1,078,704 Current assets/(liabilities) - 1,078,704	Income funds 2025 £ - (4,610) (4,610)	Total Capital funds Income funds 2025 2024 2024 £ £ £ 1,078,704 1,154,796 - (4,610) - (4,747) 1,074,094 1,154,796 (4,747)	Total 2024 £ 1,154,796 (4,747) 1,150,049

16 Related party transactions

The trustees have made a donation of £78,637 in the form of shares during the year (2024 - 90,341).

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