Charity registration number 1171404 Company registration number 10429312 IEngland and Wales) WELFORD FAMILY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2025
WELFORD FAMILY TRUST LEGAL AND ADMINisfRATIVE INFORMATION Trustees Mr A W Welford Mrs D M Welford Charity number 1171404 Company number 10429312 Registered office Manor Stables Beech Road Oxhill Warwickshire CV35 OQE Independent examiner TC Group Celixir House Stratford Business & Technology Park Innovation Way, Banbury Road Stratford-upon-Avon Warwickshire United Kingdom CV37 7GZ
WELFORD FAMILY TRusr CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-10
WELFORD FAMILY TRUST TRUSTEES REPORT IINCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30JUNE 2025 The trustees present their annual report and financial statements for the year ended 30 June 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 chairty's Memorandum and Articles of Association. the Companies Act 2006 and "Accounting and Reporting by Charities- Statement of Recommended Practice applicable to ch¥ities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK a1 Republic of Ireland {FRS 102}" (effective l January 20191. Objectives and activities l. To advance the Christian faith in accordance with the Charity's statement of faith; 2. To relieve those in need , hardship or distress of any kind,. 3. To advance education in accordance with Christian Principles,- 4. To fulfil such other charitable purposes as the trustee5 think fi't- Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the chairty should undertake. Grant applications are by invitation from the Welford Family Trustees only. Volunteers The trustees with to thank all of the volunteers who support the charity. Achievements and performance Significant octivities ond achievements ogainst objectives We have set a policy for giving to projects that we determine. Applications will be invited by the Trustees and no uninvited requests will be considered. Financial review Investment policy and objectives The Charity's memorandum and articles of association authorise the trustees to invest or deposit fvnds as may be thought fit. Flnancial performance The net deficit for the year was £926, comprising total incoming resources of £29.500, total resource5 expended of £30.426. Total funds at the year end were £3. As we are a grant giving trust from a cash fund no reserves policy exists. We will gift from available cash inline with the grant application process. Plans for future periods Our hope is the fund will grow and can assist in line with out objectives given the policy referenced above. Strurture, governance and management The charity is controlled by its governing document. a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
WELFORD FAMILY TRUST TRUSTEES REPORT (INCLUDING DIREcfoR'S REPORll (CONTINUED) FOR THE YEAR ENDED 30JUNE 2025 The trustees, who are also the dirertors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were- Mr A W Welford Mrs D M Welford Recruitment and oppointment of trustees Trustees are appointed in accordance with he Articles of Association. Other motters Indurtion and training of new trustees It is the charity's policy that new Trustees undergo an orientation process to brief them on their legal obligations under charity law, the charity's governing documents, the committee decision making process, the business plan and recent financial performance of the charity- Trustees are encouraged to attend appropriate external training events that will assist them in carrying out their role. The trustees report was approved by the Board of Trustees. Mr A W Welford Trustee 9 October 2025
WELFORD FAMILY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELFORD FAMILY TRusr I report to the trustees on my examination of the financial statements of Welford Family Trust ItIE chairtyl for the year ended 30 June 2025. Responsibilities and basis of report As the trustees of the chairty land also its directors for the purposes of company lawl you are r6ponsible for the preparation of the financial 5tatement5 in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the chairty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination ofthe chairty's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting record5 were not kept in respert of the chairty as required by section 386 of the 2006Act- or the financial statements do not accord with those records: or the tinancial statements do r)ot comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter consided as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporknng by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to whrh attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. CCQ / TC Group Celixir House Stratford Business & Technology Park Innovation Way. Banbury Road Stratford-upon-Avon Warwickshire CV37 7GZ United Kingdom Dated.. 9 October 2025
WELFORD FAMILY TRUST STATEMENT OF FINANCIAL A1VITIEs INCWDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30JUNE 2025 Unrestricted funds Yearto June 18 month 2025 period to June 2024 Unrestricted funds Notes Income from: Donations and legacies 29,500 Total income 29,500 Expenditure on: Charitable activities 30,426 37,648 Total expenditure 30,426 37,648 Net gains/llosses) on investments 538 Net expenditure and movement in funds (926) 137,1101 Reconciliation of funds: Fund balances at l July 2024 929 38,039 Fund balances at 30 June 20Z5 929 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
WELFORD FAMILY TRUST BALANCE SHEET AS AT30 JUNE 2025 2025 2024 Notes Current assets Cash at bank and in hand 423 1.679 Creditors: amounts falling due within one vear io {420) 17501 Net current assets 929 Net assets excluding pension liability 929 The funds of the chairty Unrestricted funds 929 929 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 30June 2025. The director acknowledges her responsibilities for complying with the requirements of the Cornpanies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companie5 subject to the small companies regime. The fFnancial statements were approved by the trustees on 9 Ottober 2025 Mr A W Welford Trustee Company registration number 10429312 (England and Wales)
WELFORD FAMILY TRUST NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30JUNE2025 Accounting policies Charity inforniation Welford Family Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Manor Stables, Beech Road. Oxhill, Warwickshire, CV35 OQE. England. 1.1 Reporting period The accounts were extended to an 18 month period to June 2024 for administrative purposes, theref(Ke comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. 1.2 Accounting convention The financial statements have been prepared in accordance with the chairty's Igoverning documentl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement ol 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 l January 20191. The chairty is a Public Benefit Entity as defined by FRS 102. The chairty has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The fi'nancial statements are prepared in sterling, which is the functional currency of the chairty- Monetary amounts in these financial statements are rounded to the nearest £. The linancial statements have been prepared under the historical cost convention, Imodified to include the revaluation of f reehold properknes and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.3 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the chairty 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 5tatement5. 1.4 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained bythe chairty. 1.5 Income Income is recognised when the chairty is legally entitled to it after any performance conditions hwe been met, the amounts can be measured reliably. and it is probable that income will be received.
WELFORD FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE2025 Accounting policies (Continued) Cash donations are recognised on receipt. Other donations are recognised once the chairty 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 deeds of covenant is recognised at the time of the donation. Legacies are reco8nised on receipt or othenNise if the chairty has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic befit to a third party. it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliablv. Expenditure is classified by activity. The costs of each activity are made up of the total of dIrt costs and shared cost5. including support costs involved in undertaking each activity. Direct Costs attributaue to a single activity are allocated dirertly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those artwities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. Income from donations and legacies Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts Legacies receivable 17.000 12,500 29,500
WELFORD FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Expenditure on charitable actlvities Audit fees 2025 Audit fees 2024 Direct costs Donations 30.000 36,945 Share of sUPPOrt and governance costs (see note 4) Governance 426 703 30,426 37.648 Analysis by fund Unrestricted funds 30.426 37,648 Support costs allocated to activities 2025 2024 Governance costs 426 703 Analysed between: Audit fees 426 703 Net movement in funds 2025 2024 The net movement in funds is stated after charging/lcreditingl: Fees payable for the independent examination of the charity'5 financial statements 426 703 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits fran the chairty during the year.
WELFORD FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Employees The average monthly number of employees during the year was: 2025 2024 Number Number Total There were no employees whose annual remuneration was more than £60,000. Gains and losses on inve#ments Unrestricted Unrestrirted funds funds 2025 2024 Gains/{lossesl arising on- Revaluation of investments 538 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 420 750 11 Unrestricted fund5 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 unrestritted funds by the trustees for specific purposes. At l July 2024 Incoming resources Resources expended Gains and losses At 30 June 2025 General funds 929 29.500 130,4261
WELFORD FAMILY TrUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2025 11 Unrestricted funds {Continued) Previou5 Period: At l July 2023 Incoming resources Resources expended Gain5 and losses At 30 June 2024 General funds 38.039 137.6481 538 929 12 Related party trdnsactions During the year, donations of £30,000 {2024: £36,71XIi were paid to Nicodemus. a charity of which AW Welford and Mrs DM Welford are trustees. 10-