Charity registration numbet 1165375 EDNA SMYLIE MEMORIAL FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
EDNA SMYLIE MEMORIAL FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs A Hlbbert Mrl DDash Ms H Smith Mrs H Longman Charity number (England and Wales) 1165375 Principal address 104 South Street Eastbourne East Sussex BN214LW Independent eJÈamlner Price & Company 30-32 Gildred8é Road Eastbourne East Sussex BN2145H
EDNA SMYLIE MEMORIAL FUND CONTENTS Page TrLJStees' report Statement of trustees, responsibilities Independent examiner's rèport Statement of financial activities Balance sheet Notes to the financial 5tatementS 7-13
EDNA SMYLIE MEMORIAL FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2025 The trustees present their annual report and f1nancial statements for the year ended 31 May 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I 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 charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. Objectives and activities The charity's objects are to help and aid disabled, wounded, sick or homeless animals. The trustees seek applications from UK Registered Charities in East and West Sussex, Kent and outside c>f these areas, aiTning to assist with capital projects through Registered Charities and other charitable bodie5. The trustees continue to give consideration to individuals requiring assistance but primarily through the use of local veterinaTV group5 who deal with the assessment of the individua15' means. In planning the activities for the year the trustees have paid due regard to guidance issued by the Charity Commission on Public Benefit at their meetings. Achlevements and performan Flnanclal revlew The trustees continued with their work with different org3nisations that have applied for grants and made charitable grants in the year totalling £84,170. The following institutions received grants dLJring the year.. Animals Asia £10,000. Nowzad Charity £5,000, HART Wildlife Rescue £5,000, Yorkshlre Cat Rescue £2,000, Daybreaks Kennels £2,5CKI, Cat Rescue £2,000, Cuan Wildlife Rescue £10,000, Prickles & Paws £IO,OOD, Hector's Greyhound Rescue £7,670, Baby Blue Bee Bunnies £5,000, Eastbourne Bird Aid £5,000 and Wild Hogs Hedgehog Rescue £20,000. The trustees follow up those in recèipt of grants regarding the completenéss of the work for which the award was granted. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and Six month5, expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised Thi5 level of reserves has been maintained throughout the year. It IS the policy of the charity to maintain the value of its reserves in real terms and to maximise income from them without taking any undue risk. The performance of the fund this year ha5 been satisfactory. The trustees have assessed the major risks to which the charity is exposed, and are sat15fied that systerns are in place to mitigate exposure to the major risks. Plans for future perlods The trustees intend to continue managing the investments with a view to generatlllg sufficient income to enable the charity to continue its grant giving activities.
EDNA SMYLIE MEMORIAL FUND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 Structurefft governance and management The charity was established by a charitable trust deed on 14 May 1996 and registered with the Charitv Commission on l February 2016 under registration number 1165375. The trustees who served during the year and up to the date of signature of the financial statements were.. Mr5 A Hibbert MrJDDash Ms H Smith Mrs H Longman New trustees are appointed at the discretion of the existing trustees. The charity 15 managed by the trustees who met on five occasions during the year to consider the key operationol areas of grant making and investments. Ms H Smith is a partner of Hart Reade, the charity's solicitors. The trustees, report was approved by the Board of Trustees. Ms H Smith Trustee 11 March 2026
EDNA SMYLIE MEMORIAL FUND STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MAY 2025 The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Urnited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales require5 the trustees to prepare finèncial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to.. select Sultable accounting policies and then apply them consi5tentlv,' observe the methods and principle5 in the Charitie5 SORP- make judgements and estimate5 that are reasonable and prudent,. state whether applicable accountlng standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financlal statements on the going concern basis L¢nless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting record5 that disclose with reasonable accuracv at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provislons of the trust deed. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detertion of fraud and other irregularities.
EDNA SMYLIE MEMORIAL FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDNA SMYLIE MEMORIAL FUND I report to the trustees on my examination of the financial statements of Edna Smylie Memorial Fund (the harityl for the year ended 31 May 2025. Respons5bllities and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the reqU1MentS of the Charities Act 2011. l pOrt 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 DirectlOn5 given by the Charlty Commission under section 145lSllbl of the Charities Act 2011. Independent examiner's statement Your attention 15 drawn to the fact that the charity has ppared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing thelr financlal statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examinatlon. I confirm that no matters have come to my attention in connection with the exarnination giving me cause to believe that in any materi31 respect.. accounting records were not kept in respect of the charity as required by sectign 130 of the Charities Act 2011. the financial Statements do not accord with those records,. or the financlal statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charitie5 (Accounts and Report51 Regulations 2008 other than any requirement that the financial Statements give a true and fair view, which is not a matteT considered as part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial 5tstements to be reached. tsL_ Nathan Coker FCCA Price & Company 30-32 Gildredge Road Easibourne East Sussex BN214SH Dated.. 11 March 2026
EDNA SMYLIE MEMORIAL FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2025 Unrestricted fund5 2025 Total 2024 Notes Income from: Investments 44,377 41,722 Ex enditure on: Charitable activities 111,280 58,924 Net gains/110ssesl on investment5 108,318 188,423 Net movement In funds 41,415 171,221 Fund balance5 at l June 2024 1,570,206 1,398,985 Fund balances at 31 May 2025 1,611,621 1,570,206 The statement of financia1 activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
EDNA SMYLIE MEMORIAL FUND BALANCE SHEET AS AT 31 MAY 2025 2025 2024 Notes Fixed assels Investments li 1,505,678 1,522.890 Current assets Cash at bank and in hand 121,121 67,194 Creditors: amounts falling due withln one year 12 115,1781 119.8781 Net Current assets 105,943 47.316 Total assets less current liabilities 1,611,621 1,570.206 The tunds of the charlty Unrestricted funds 1,611,621 1,570,206 1.611,621 1,570,206 The financial statements We approved by the trustees on 11 March 2026 Ms H Smith Trustee
EDNA SMYLIE MEMORIAL FUND NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Accounting policies Charity information Edna Smylie Memorial Fund was established by a charitable trust deed on 14 May 1996 and registered with the Charity Commission on l February 2016 under registration number 1165375. 1.1 Accounting convention The financial statement5 have been prepared in accordance with the charity'5 governin8 document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefit Entity as defined by FRS 102. The charlty has taken advantage of the prowsions in the SORP for charities not to prepare a statement of cash flows. The f1n3ncial statement5 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charitie5 applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrdwn. The financial statements are prepared in sterlin8, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearèst £. The financial Statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 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 cDntinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing ihe financial statements. 1.3 Charttable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objective5. 1.4 Income Income is recognised when the charity is leg311y entitled to it after an¥ performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MAY 2025 Accounting policies (Continued) Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deed5 of covenant is recogni5ed at the time of the donation. Legacles are recognised on receipt or otherwise if the charity ha5 been notified of an impending distribution, thè amount is known, and receipt is expected. If the amount is not known, the legacy is treated as è contingent asset. 1,5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expendituie, it is probable that settlement will be required and the amount of the obligation can be measure reliablv. Governance ccists comprise all costs involving the public accountability of the charSty and its compliance with regulation and good practice. Grants payable are payments to third parties in furtherance of the charitable activities of the charity. Expenditure on grants is recorded once the charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary, or the grant has been paid, whichever is earliest. 1.6 Flxed asset investments Fixed asset investments arè initially measured at transaction price excluding transaction costs, and are subsequently measured at fair valLJe at each reporting date. Changes in fair value are recognised in net incDmellexpenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalent5 include cash in hand, deposits held at call with banks, other 5hort-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities. Basic financial assets Basic financial assets. which include debtors and cash 8nd bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unle55 the arrangement constitutes a financing transattion. where the transaction 15 measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2025 Accounting policies Icontlnuedl Basic financial liabilities, including Creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrurnent is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amort15ed. Debt instruments are Subsequently carried at amortised cost, Using the effective interest rate method. Trade creditors are obligation5 to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amourits payable are classified as current liabilitie5 if payment is due within one year or less. If not. they are presented as non-current liabilitie5. Trade credltors are recogni5ed initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabllities Financial liabilities are derecognised when the charity's contractU31 obligations expl or are discharged or cancelled. 1.8 Employee benefits The c05t of any unused holiday entitlement Is recognised in the period in which the employee's Services are received. Termination benefits are recognisèd immediately as an expense when the charity is demonstrablv committed to terminate the employment of an employee or to provide termination benefits. 1.9 Rlsk factors The Trustèes have accesses the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Critical accounting e5tsmates and judgements In the application of the charity'5 ac¢ountin8 policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readilv apparent from other source5. 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 estimaie5. The estimates and underlying assumptions are rtvlewed 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.
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MAY 2025 Investments Unrestricted funds Total 2025 2024 Income from listed investmÈnt5 44,377 41,722 Expenditure on charitable actlvities Grant5 2025 Grants 2024 Dlrect costs Grant funding of activities (see note Sl 84,170 33.250 Share of support and govemance cost5 Isee note 61 Governance 27,110 25,674 111.280 58,924 Analysls by fund Unrestricted fund5 111,280 58,924 io-
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 Grants payable Grants 2025 Total 2024 Grat)ts to ihstitutions.. Animals Asia Daybreaks Trust Hornbeam Wood Rescue Sanctuary Nowzad Charity Teckels Animal Sanctuaries The Cat Welfare Group Limited Tynemouth Seal Hospital HART Wildlife Rescue Yorkshire Cat Rescue Daybreaks Kennels Cat Rescue Cuan Wildlife Rescue Prickles & Paws Hector's Greyhound Rescue 8aby Blue Bee Bunnies Eastbourne Bird Aid Wild Hogs Hedgehog Rescue 10,000 3,000 4,250 5,000 10,000 5,000 5,000 1.000 5,000 5,000 2,000 2,500 2,000 10.000 10,000 7,670 5,000 20,DC4J 84,170 33,250 -li-
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 Support costs Governance costs 2025 2024 Basls of allocation Independent examination Legal and professional 1,680 25,430 1.680 25,430 1,680 Governance 23,994 Governance 27,110 27.110 25,674 Analysed between Ch3rilable activities 27,110 27,110 25,674 Governance cost5 includes amounts payable to the Independent examiners of £1,680 12024- £1,680) for independent examination fees. Trustees None of the trustees lor any persons conne¢ted with them) received any remuneration or benefits from the charity during the year. No expenses were incurred or reimbursed to the trustees in the year. Governance cost5 includes the amount of £11,70012024- £11,400) payable to the charity'5 solicitors. Hart Reade. Employees There were no employees during the year. Net gains/llosse51 on investments Unrestricted Unrestricted lunds funds 2025 2024 Revaluation of investments Gainlllossl on sale of investments 133,5001 141,818 182,731 5,692 108.318 188,423 12
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MAY 2025 10 Taxation The charity is exempt from taxation tsn its activities because all its income is applied for ch3rit3ble purposes. 11 Fixed asset investment5 Listed investments Cost or valuatlon At I Ine 2024 Additions Valuation changes Disposals 1,522.890 105,877 108,329 1231,4181 At 31 May 2025 1,505,678 Carrying amount At 31 May 2025 1,50S,678 At 31 May 2024 1,522,890 12 Creditors: amounts falllng due wlthln one year 2025 2024 Accruals and deferred income 15,178 19.878 Accruals and deferred income includes amounts due to the charity's solicitors. Hart Reade, of £11,700 12024- £11,4LYJI. 13 Related party tran5a¢tions During the year, the Trust had transactions with the charity's solicitors, Hart Reade, of £11,70012024- £11,400), of which the trustee Ms H Smith is a partner. There are no other disclosable related party transactions. 13