Charity number: 1169417 THE LIThLE ORCHARD CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE LITTLE ORCHARD CHARITABLE TRUST CONTENTS Page Reference and admlnlstratlve detalls of the Charlty, its Trustees and advlsers Trustees, report Ind•pondent oxamlnèrfs rèport Statement of flnancial actlvltles Balance sheet Statemènt of cash flows Notss to th• flnanclal $tat•ments 8-15
THE LITTLE ORCHARD CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr B Parkandèr {déc8as6d 8 February 2024) Mrs E Parkander Mrs A Parkander Charlty reglstered number 1169417 Admlnlstratlve offlc• James Cowper Kraslon 2 Communications Road Greenham Business Park Newbury Berkshire GL15TS Accountanls James Cowper Kreston Chartered Accounlanls 2 Communlcalions Road Greenham Business Park Gr88nham N8wbury Berkshire RG19 6AB Page 1
THE LITTLE ORCHARD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2024 to 31 December 2024. The Trustees confirm that the Annual report and financial slalements of the Charity comply wilh the Charities Act 2011, the requirements of the Charlvs goveming document and Accounting and Reporting by Charities.. Statement of Recommended Practice (SORP) applicable to chariti85 preparing their accounts in accordanc8 with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191. Reference and admlnl$tratlv• Informatlon The Little Orchard Charilabl8 Trust's administrative office is James Cowpei Kreston. 2 Communicalions Road, Greenham Business Park, Greenham, Newbury, 8erkshire, RG19 6A8. It is registered with the Charity Commisslon for England and Wales under number 1169417. The Trust was founded in 2014 and was dormant until it registered as a charlty in September 2016. It Is governed by Its deed of trust dated 26 Sepiember 2014. ObJectlve$ and actlvllles a. Poll¢lo3 and obJ•ctlv•• The objectives of the Charity are lo apply its income for any charitable objécts and purposes in any part of thé world as th8 Trustees may, in their discretion. see fit. The Trustees also resolve to seek, where possible, to fulfil Iheir charilable objects by providing funds to local causes in Gloucestershire which promote mental health awareness. Tha Truslees Confirm th8ir investment policy is to provide a balance of income and capital growth. Tha Truslees seek to mainiain a sum, assessed from time lo time in the light of probable fulure 8xpendilure. in cash reserves lo meet Ihat expendlture, Th8 Truslees confirm that In settlng the objectlves of the Trust they have complied with their duty in section 4 of the Charilies Act 2011 to have due regard lo public benefit guidance published by the Charlly Commission. Achievom•nt• and performanc• a. Maln achlevements ol the Charlty During the year the Charity rettived donations of £5,520 {2023.. £6.420) and reporled a net income after investment fair value gains of £82.104 {2023.' £59,772 loss). A £25,000 grant was given to Longfield Hospice. The Charity also built up its reserves to enable11 to conlinue gifting grants in the future. Flnanclal revlew a. Golng concom After making appropriate enquiries, the Tnjstees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For Ihis reason. they continue to adopl the going concern basis in preparing the financial statemenls. Further details regarding the adoption of Ihe going concern basis can be found in the accounting policies. Page 2
THE LirrLE ORCHARD CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 b. R•s•rves pollcy A minlmum level of reserv8s ar8 h81d to Cover all planned future exp8nditur8. Thes8 funds will be utilised to fulfil the objects of th8 Charity in future periods. It 15 inlended that reserves held should be sufficient for the Charity to fund charitable expenditur8 Out of the return on the inveslments held. At Ihe year end the Charity had £2,894,196 (2023: £2.812.092) free reseries, being unrestricted funds. Structure, governance and management a. Organlsatlonal structurn and declslon-maklng pollcles The Charity is administered by the Trustees as sel oul in the general Information. The Trustees hold at least two meelings a year. The Trustees who s8rved during the year were '. Mr 8 Parkander (deceased 8 February 2024) Mrs E Parkander Mrs A Parkander The appointment of new Trustees Is made by the existing Trustees. The Trustees shall consisl of at least two bul no more than six individuals. Subject to disqualification or resignation the First Trustèes. Mr B Parkander and Mrs E Parkander, ara éntitled lo hold office for life. Future Trustees must be appolnted by resolutlon of the Trustees. Every future Twstee must sign a declaration of wellness to act as a Trustee of the Charily before he or she may acl as a Trustee. No rernuneration is paid to the Trustees, Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs E Parkand•r Trustee Date: J3. &-. aaJ6- Page 3
THE LITTLE ORCHARD CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Ind•pend•nt Examlnor's Report to th• Trusteés of The Little Orchard Charltable Trust {'the Charity.) I report to the charlty Trustees on my examlnatlon of the accounts of the Charity for the year ended 31 December 2024. Responslbllltles and 8asl$ of Report As th8 Trust88s of th8 Charity you are responsible for the preparation of the accounts in accordance with the requlrements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charitys accounts carried oul under sectlon 145 of the 2011 Act and In carrylng out my examinalion I have followed the applicabla Directions given by the Charity Commission under seclion 145(5)(b) of the 2011 Act. Indep•ndont Examlner's Stat•m•nt Your attention is drawn to the fact that the Charlty has prepared the accounts In accordance wilh Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reportlng by Charllles: Statement of Recommended Practice issued on 1 Aprll 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been dona in order for th• accounts to provlde a Irue and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attentlon In connecllon wlth the examination givlng me Cause to believe that in any material respacl: accounting records were not kept in respect of Ihe Charity as required by section 130 of the 2011 Acl: or the accounts do not accoril wilh those records; or the accounts do not comply with the applicable requiremenls conceming the form and content of accounts set out in the Charities (Accounts and Raports) Regulations 2008 other than any requlr8m6nt that the accounts give a 'true and fail, view which is nol a matter considered as part of an independent examination. I have no concerns and have corne across no other matters in conne¢tlon with the examlnatlon to whlch attention should b8 drawn in this report in order to onable a proper understanding of the accounts lo be aChed. This report Is made solely lo the Chailtvs Truslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulatlons 2008. My work has been undertak8n so that I might state to the Charitls Trustees those matters l am qUired to slate to ihem in an Independent 8xaminerfs report and for no other purpos8. To the fullest extent permilted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitrfs Trustees as a body, for my work or for thls report. Signed: Fiona Hawkins James Cowper Krèston Chartered Accountants 2 Communlcalions Road Greenham Business Park Greenham Newbury Berkshire RG19 SAB Daled: Z Zozs. FCA Page 4
THE LITTLE ORCHARD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlctod funds 2024 Total funds 2024 Total funds 2023 Note Incomo from: Donations and leg8Ci8S Investments 5.520 43.982 5.520 43.982 6,420 40,105 Total Income 49,502 49.502 46,525 Expendltur• on: Raising funds Charitable activities 6,652 31.574 6,652 31,574 7.092 15,594 Total expendlture 38,226 38.226 22.686 Net Income befor• nel galn8111088•8) on Investments 11.276 70.828 11,276 70,828 23.839 (83.6111 Net gainsl(lossas) on investments N•1 mov•m•nl In funds 82,104 82,104 159,7721 Reconclllatlon of funds: Total funds brought forward Net movement in funds 2,812,092 82,104 2,812,092 82,104 2,871,864 (59,772) Total funds carrfed forward 2,894,196 2,894,196 2.812,092 The Stalement of Flnancial Activities includes all gains and losses recognis8d in th8 y68r. The notes on pages 8 to 15 form part of these financial slatements. Page 5
THE LITTLE ORCHARD CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxod assets Investments 2,768,778 2,743,051 2,768,778 2,743,051 Current assets Cash al bank and in hand 130.962 76,985 130,962 76.985 Creditors: amounts falling due within one year 12 (5,544) (7,944) Net current a880t• 125,418 69,041 Total ass•ts less current Ilabllllles 2,894,196 2,812,092 Net asset8 excludlng penslon asset 2,894,196 2,812,092 Total n•t a8s•t8 2,894,196 2.812,092 Charlty funds Unreslricted funds 14 2.894,196 2,812,092 Total fund• 2,894,196 2,812,092 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Mrs E Parkandgr Trustee Date.. 3. 6-. The notes on pages 8 to 15 fomi part of these financial slatemenls. Page 6
THE LITTLE ORCHARD CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating actlvitle8 Net cash used in operating aclivities (35,106) {16.1) Cash flows from Investlng activitiès Proceeds froffl sale of investments Purchase of investments Investment income 1,583,351 1,020,923 (1.538,250) (1,158.845) 43,982 40.105 Net cash provldod byl(u$•d ID) Invogtlng acllvltl•s 89,083 {97,8171 Cash flows from flnanclng a¢iivltles Net cash provlded by flnanclng activlties Change In cash and cash èqulval6nts In thé yaar Cash and cash equivalents at the beginning of the year 53,977 1114,3781 191,363 76,985 Cash and cash equlvalents at the ènd of th• yèar 130,962 76,985 The notes on pages 8 to 15 form part of these financlal statements Page 7
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon Th8 Little Orchard Charitable Trust's admlnislrative office Is James Cowper Kreston. 2 Communications Road, Greenham Business Park, Greenham, Newbury, 8erkshire, RG19 6AB. It is registered with the Charity Commission for England and Walas und6r numb8r 1169417. Accounting po15cles 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Stat&ment of Recommended Praclic8 applicable to charities preparlng theSr accounts In accoidance wlth the Flnancial Reporting Standard appllcable in the UK and Republic ol Iland (FRS 102) (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financlal staternenls have been prepared to glve a 'true and fairf view and have doparted from the Charities (Accounts and Reports) Regulalions 2008 only to the extent required lo provide a 'true and fairf view. This departure has involved following the Charitses SORP (FRS 1021 published in Oclobef 2019 rather than the Accounting and Reporting by Chailties.. Statement of R8comm8nded Practice effeclive from 1 April 2005 which has since been withdrawn. The Llttle Orchard Charitable Trust meets Ihe definition of a public benefit entity under FRS 102. Assets and liabilities are inttially recognised at historical cost or transaclion value unless otherwise stated in the relevant accounling policy. 2.2 Golng concorn The Charity holds sufficient reserves and maintains a diverse investment portfolio. Therefore the Trust88s hava a r88sonabl8 èXP8Ctation that the Charity has adaquate rèsources lo continue in OP8rational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparin9 the financial slalemenls. 2.3 Income All income is recognised onc8 Ihe Charity has entitlèment to th8 incom8, it is probable Ihat tha Income wlll be recelved and the amount of Income recelvable can be measured rellably. Income tax recoverable In relation to donations received under Glft Ald or deeds of covenant is recognised at the time of the donation. 2.4 Expondltur• Expendilure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a Iransfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of Ihe lotsl of di¢1 costs and shared costs. including support costs involved in undertaking each aclivity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one aclivily and support costs which are not attributable to a single activity are apportioned belween those activities on a basis consislent with the use of resources. Expenditur8 on raising funds includes all expenditure incurred by Ihè Charity lo raise funds for its charitab18 purposes ar Includ8S Costs of all fundraislng activiti8S 8V8nts and non-charitable trading. Expenditure on charitable activities is incurred on direclly undertaking Ihe activities which further the Charity's objectives, as well as any associaled support costs. Page 8
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AccountSng pollcies (continued) 2.4 Exp•ndlture (contlnued) Grants payable are charged in the year when lh8 offer is made excapt in thosa cas&s where the offer is conditional, such gr8nts being r8cognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have nol been mel at the year end are noted as a commitment. but not accrued as expenditure. All expendlture Is Incluslve of Irrecoverable VAT. 2.5 Investmenls Fixed asset Investments are a form of financial instrumenl and are initially recognised al their transaction cost and subsequently m&asured at fair value at tha Balance sheel dale, unless th8 value cannol be measured reliably In whlch cas811 Is maasured at cost less impairmenl. Investment galns and losses, whelher reallsed or unrealised, are combined and presented as 'Gainsl{losse5) on investments. in the Statement of financial activities. 2.6 Cash al bank and In hand Cash at bank and In hand Includ8S cash and short.tém) hlghly Ilquld Investment8 wlth a short maturlty of three months or less from the dale of acquisitlon or opening of the deposit or similar account. 2.7 Llabllltles and provlslons Liabilitiés are recognised when there is an OblatIon at the Balance sheet date as a result of a past 8V8nt, It is probable that a transfer of economic benefit will be required in settlement, and the amount of the setllement can be estimated reliably. Llabllltles are recognlsed at the amount thal the Charity anticipales il will pay lo setlle the debt or the amount it has received as advanced paymenls for th8 go(Jds or gervices it musl pr¢)vid8. 2.8 Fln•nclal Instrurnents Basic flnanclal assets, which include debtors and cash and bank balances, ar8 Initially measured at transaction pwice induding transaction costs and are subsequently carried al amortised cost using effeclive inl8rest malhods unless the arrangment conslilutes a financing transaclion, where the Iransactlon Is measured at pres8nt value of the future receipls discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortisad. other financial assels, Indudlng trade investments, are Inltlally measured al fair value, whlch Ss normally the Iransaction price, Such assets are subsequently carried at fair value and ihe changes in the fair value are recognised on nel income l (8xpènditur8). except for investm8nls in equity instruments that are not publicly traded and whose falr values cannot be r8llably measured are recognised at cost less impairmenl. Baslc financlal liabilities, Sncluding creditors are intially recognised at transactlon price unless the arrangement constilutes a financing transaction. where the debt inslrument is measured at the present value of the future paym8nts discounted at a markel ra18 of interest. Financial liabilitl8S classified as payable wlthln one year are not amortised, Debt instruments are subsequently carri8d at amortised cost. using the 8ff8Ctive int8r8St rate method. Page 9
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollclos {contlnued) 2.9 Fund ac¢ountlng General funds are unrestricted funds which are availabl8 for use at the discretion of the Trustees In furtherance of the gen&ral objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Unrostrlcted funds 2024 Total funds 2024 Toial funds 2023 Donations 5,520 5.520 6,420 Investment Income Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Income from investments 43,982 43,982 40,105 Investment management costs Unréstrictad funds 2024 Total funds 2024 Total funds 2023 Investment management costs 6,652 6,652 7,092 Page 10
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of grants Grants to Grants to Instltutlons Indlvlduals 2024 2024 Total funds 2024 Total funds 2023 Granl funding of activilies 25,000 3,600 28,600 10,000 The Charity has made the follow•ng material grants to instilutions during the year.. 2024 2023 Nam• of Instltution Gloucestershire Communlty Foundation Longfield Hospice 10,000 25,000 25,000 10,000 25,000 10,000 Grants were made to Longfield Hospice lo support care for adults Ilvlng wlth a lrfe-llmltlng conditlon and support for their loved ones and carérs. Analysls of oxpendlturo on charltable actlvltl•8 Summary by fund typ• Unrestrlcted funds 2024 Total 2024 Total 2023 Grdnt funding of activities 31,574 31,574 15,594 Summary by oxpgndlture lype Other costs 2024 Total 2024 Total 2023 Grant funding of activities 31,574 31.574 15,594 Page11
THE LIThLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expondlture by acllvitles Grant fundlng of act5viti08 2024 Support costs 2024 Total funds 2024 Total funds 2023 Grant funding of aciivilles 28,600 2,974 31,574 15,594 Tolal 2023 10,000 5,594 15.594 Independent examlnerf8 remunoratlon The independenl axamln8r's remuneration amounts to an independent examiner fee of £2,798 (2023 £2,640). 10. Tru$t••s' remuneratlon and expenses During the yaar, no Trustees received any remuneration or other benefits12023 - £NSL). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). 11. Fix•d ag$•t Invgstments Llst•d Investment• Cost or valuatlon At 1 January 2024 Additions Disposals R8valuations 2,743,051 1,538,250 11,703,815} 191.292 At 31 December 2024 2,768.778 Net book valu• At 31 December 2024 2,768,778 At 31 December 2023 2,743,051 Equity instruments that are listed on a Tegulated stock exchange are measured at fair value using obseNable market value, Page 12
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Credltors: Amounts falllng due wlthln one yoar 2024 2023 Accruals and deferred income 7,944 13. Flnanclal Instruments 2024 2023 Flnanclal assets Financial assets measured at fair value through income and expenditure 130,962 76,985 14. Statement of funds Statement of funds • current year Balanc• at 31 Galn81 December (Lo$$o$ 2024 Balance at 1 January 2024 Incom• Expondlture Unr•strict•d funds General Funds - all funds 2,812,092 49,502 {38,226) 70,828 2,894,196 Statement of funds - prlor year Balance at 31 December 2023 8alance at 1 January 2023 Gainsl (Losses) Income Expenditure Unrostrlcted funds General Funds- all funds 2,871,864 46,525 {22,686} {83,6111 2,812,092 Page 13
THE LirrLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EP40ED 31 DECEMBER 2024 15. Analysls of net assets between funds Anatysls of net assets between funds • current perlod Unrestrlcted funds 2024 Total funds 2024 Flxed asset investments Current assets Credilors due within on8 year 2,768.778 130,962 {5,544) 2,768,778 130,962 (5,544) Total 2.894,196 2,894,196 Analys18 of net assets between funds . prlor perlod UnrestriGled funds 2023 Total funds 2023 Fixed assel investmenls Currenl assèts Credltors due within one year 2.743,051 76,985 (7,944> 2,743,051 76,985 (7.944) Total 2.812.092 2,812.092 16. Reconclliatlon of net mov•ment In funds to nol cash Ilow from operating activiti•$ 2024 2023 Net incomelexpenditure for thè period (as per Statement of Financial Aclivities) 82,104 159,772) Adjustrnents for: Lossl(gain) on investments Dividends, interests and renls from investments Loss on the sale of investments Decrease in creditors (191,292) 143,982) 120,464 (2,400) 60,633 (40,106) 23,560 (8761 Net cash used In op•ratlng actlvltles (35,106) (16.561 } Page 14
THE LITTLE ORCHARD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Analysls of cash and cash equlvalents 2024 2023 Cash In hand 130,962 76.985 Total cash and ¢agh equlvalents 130,962 76,985 18. Analysls of changes In nat d•bt At1 January 2024 Cash flow At31 Decèmber 2024 Cash at bank and in hand 76,985 53,977 130,962 76,985 53.977 130,962 19. Relat•d party transa¢tlon$ During the yoar donations of £5,520 (2023 - £6.420) were received from the Trustees. Page 15