REGISTERED CHARITY NUMBER: 1174233 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 FOR THE BRENDA VERA COOPER CHARITABLE WILL TRUST Gibson Whltter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Busln9ss Park Denmead Hampshi P07 6XP
THE BRENDAVERA COOPER CHARITABLE WILL TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Page Report of the Trustees Independent Examlner's Report Statement of Financial ActivltloB Balance Shoot Notes to the Flnanclol Statements 6 to 11
THE BRENDA VERA COOPER CHARITABLE WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their report with th8 financial ststements of the charlty for the yéar 8nd8d 5 April 2024. The trustees have adopted the provislons of Accounting and Reporting by Charities.. Statement of Recommendod Practice applicable to charities preparing thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectlve5 and alms To apply the net Income of the trust to the following charitable institutions in equal shares.. The British Red Cross Soclety, Thomer's Homes, Macmillan Cancer Support and The Oakhaven Trust. Publlc beneflt In accordance with the requirements of Ihe Charities Act 2011 and the associated Charitlès (Accounts and Reports) Regulations 2008, the trustees confirm Ihal th8y have complied with their duties to have due regard to the guidance on public benefit as published by the Charlty Commission, in exerclslng their powers and duties in Ihe year under revlew. FINANCIAL REVIEW Flnanclal posltlon For the perlod to 5 Aprll 2024 in¢ome amounted to £165.132 (2023: £156.754) and unrestricted expenditurè amounted to £275,45112023.' £55,000) of which £275.451 {2023.' £55,000) were grants, leaving e net deficit on unrestricted funds of £110,319 (2023:surplus £101,754). unStrIcted funds at the balance sheet date are £104,93312023'. £215,252). The endowment fund has s88n a gain on the revaluation of the inv&stm8nls of £67,004 (2023.. loss £282,468) and expénditure of portfolio management fees of £33,236 (2023: £38,570) and support costs of £8,000 (2023: £7.372). The balance carried foNard on thSs fund 15 £4.401,92312023.' £4,376,155). R080rvo8 poIIcy 1. As part of their overall duties of man8g6m8nt the trustees must ensure that they have 8dequate funds to m88t the purpo588 and objectlves of the trust. 2. The tru$tee5 note that the trust Is a pemianent endowrnent and as such has signrflcant capltal Investments. 3. The trustees must apply the net in¢ome of the trust for the four ¢h8rSty benefi¢i8ries, namely . The Brftish Red Cross Soclety, Ma¢millan Cancer Support. Thornels Homes and The Oakhaven Trust. 4. Th8 trustee$ arrange distributions of Income to the four charities twice a year, retsinlng funds from th8 Income for a small contingency fund on account of unexpecied expenses. 5. The lrnstees conslder thls method of managlng th6 flnancial affairs of the charity to be appropriat8 in th8 circumstances. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document The charity is conlrolled by its gov8rnlng docurnent, a deed of trust and constitutes an unincorporated Charlty, REFERENCE AND ADMINISTRATNE DETAILS Reglslered Charlty number 1174233 Prlnclpal address Blake Morgan LLP New Kings Court, Tollgate, Chandlerfs Ford Eastlelgh Hampshire S053 3LG Page 1
THE BRENDA VERA COOPER CHARITABLE WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 Trustees J M Wiltshlre H E Bunker S G Treherne Independent Examiner Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire P07 6XP 19th December 2024 Approved by order of the board of trustees on ..............,................... . ........ and slgned on Its behalf by: S G Treherne - Trustee Jrt &*IÉE Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRENDA VERA COOPER CHARITABLE WILL TRUST Independent examlnerfs reF)Ort to the trustees of The Brenda Vera Cooper Charltable Will Trust I report to the charity trustees on my examinalion of thè accounts of The Brenda Vera Cooper Charitsble Will Trust (the Trust) for the year ended 5 April 2024. Responslbilities and basis of roport As the charity trustees of the Trust you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report In respect of my examlnatlon of the Trust's accounts carri8d out under Section 145 of the Act and in carrying out my examination I have followed all appllcabl8 Directions given by the Charity Commission under Section 145151(b) of the Act. Independent oxamlner'$ statsment I have completed my examinallon. I confirm that no mat8rSal matters have come lo my attention in connectlon with the examination giving me cause to beligve that in any material respect,. accounting records wère not kept in respect of th8 Trust as required by Section 130 of the Act., or the accounts do not accord with th¢)se rgcords., or the accounts do not Comply with the applicable requirernents concernlng the form and content of accounts sel out in the Charltles (Accounts and Reports) R8gulation$ 2008 other Ihan any QuireMent that the accounts glve a trug and falr vlew which is not a matter Gonslder8d as part of an Independent examinatS0n. I have no concerns and have come across no other matters In connectlon wlth the examination to whl¢h attenllon should be drawn in thls report in order to enable a proper understanding of the accounts to be reached, Gavln Whltter Glbson Whitter Chartered Accountants and Chartered Tax Advlsers L8r¢h House Parklands 8usine$s Park Denmead Harnpshire P07 6XP Date: ................. Page 3
THE BRENDA VERA COOPER CHARITABLE WILL TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 5 APRIL 2024 5.4.24 Total funds 5.4.23 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Investmenl Income 165,132 165,132 156,754 EXPENDITURE ON Ralsing funds 33,236 33,236 38,570 Charltable aclSvltles Grant making 275,451 8,000 283.451 62.372 Total 275,451 41,236 316,687 100,942 Net galnsl(losses} on investments 67.004 67,004 {282,4681 NET INCOMEI(EXPENDITURE) (110.319) 25.768 (84,551) (226,6561 RECONCILIATION OF FUNDS Total funds brought fOard 215,252 4,376,155 4,591,407 4,818,063 TOTAL FUNDS CARRIED FORWARD 104,933 4,401.923 4.506,856 4,591,407 The notes form part of these financial stat8ment5 Page 4
THE BRENDA VERA COOPER CHARITABLE WILL TRUST BALANCE SHEET 5 APRIL 2024 5.4.24 5.4.23 Notes FIXED ASSETS Inv8strnènls 4,460,504 4,420.377 CURRENT ASSETS Debtors Cash al bank 6,458 43,284 10,663 162,987 49,742 173,650 CREDITORS Amounts falling due within one year 10 (3,390) (2,620) NET CURRENT ASSETS 46,352 171,030 TOTAL ASSETS LESS CURRENT LIABILITIES 4.506,856 4,591,407 NET ASSETS 4,506,858 4,591,407 FUNDS Unrestricted funds Endowment funds 12 104,933 4,401,923 215,252 4,376,155 TOTAL FUNDS 4,506,856 4,591.407 The financial sl te Issue on ...... ents were approved and authorised for issue by the Board of Trustees and authorised for and were signed on its behalf by: S G Trehern8 - Trust88 J M Willshire - Trustee 4ÈJo,Kknef H E Bunker- Trustee The nol8s form part of these financial statements Page 5
THE BRENDA VERA COOPER CHARITABLE WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES Basis of preparfng the flnanclal statements The financial statements of the charity. whlch 15 8 public benefrt entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102} 'Accounting and Reporting by Charities- Statement of Recommèndèd Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in thè UK and Republic of Ireland (FRS 102) {effeclivè 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable In Ihe UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under Ihg historical cost convention, with thè exception of investments which are Included at market value, as modified by the revaluation of certain assets. Income All income Is recognls8d in the Statement of Financial Activiti85 once the charily has entitlement to Ihe funds. il is probable that the Incorne will be received and the amount can b8 measured reliably. Expondlture Liabilities are recognised as expendllure as soon as there is a legal or constructlv8 obligatlon committing the charity to that expenditure. it is probable that a Iransfer of economic benefits wlll be requlred in settlement and the amount of the obllgatlon can be measured reliably. Expenditure Is accounted for on an accruals basls and has been Classifi'ed under headings that aggregaté all cost related to the calegory. Whère costs cannot be directly attribuled to particular headings they hav8 b88n allocated to 8Ctivities on a basis consistent with tha use of resources. Investment portfollo manag8m8nt fees are allocated to the endowrnent fund on an accruals ba$18. Grants offered subject lo conditions which have not been met at the year end dat8 are noted a$ commitment but not a¢¢rued as expenditure. Taxatlon The charity exempt from tsx on its charitabl8 actlvltles. Fund accountlng Unrestrlcted funds can be used in accordance with tho charitable obi8ctlV8s at th& dlscrelion of the trustees. Endowment fvnds are permanent endowments which are required to be retained, but the in¢om8 from these funds can be used for the benefit of the Charity. Restricted funds can only be used for particular restricted purposes wlthin the objects of the charlty. Restrictions arise when speclfied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund Ss Included In the notes to thè financl81 statemenls. Page 6 continued...
THE BRENDA VERA COOPER CHARITABLE WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024 INVESTMENT INCOME 5.4.24 5.4.23 Investment Income DeposSt account Interest 162,813 2,319 156,434 320 165,132 156,754 RAISING FUNDS Investment management Costs 5.4.24 5.4.23 Portfolio management 33,236 38,570 GRANTS PAYABLE 5.4.24 5.4.23 Grant making 275,451 55,000 The total grants paid to institutions during the year was as follows: 5.4.24 5.4.23 Brltlsh Red Cross Macmlllian Oakhaven Trust Ltd Thornee5 Homes 68,862 68,863 68,863 68,863 13,750 13,750 13,750 13,750 275,451 55,000 SUPPORT COSTS Governance costs Grant rnaklng 8,000 Support costs, Included In the above. are as follows: 5.4.24 Grant making 5.4.23 Total activitie Accountancy fees Legal and professional fees 1,680 6,320 1,620 5,752 8.000 7,372 Page 7 continued...
THE BRENDA VERA COOPER CHARITABLE WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 5 APRIL 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 5 Aprll 2024 nor for th8 year endod 5 Aprll 2023. Trusteès. èxpenses There were no trustees, expenses pald for the year ended 5 April 2024 nor for the year ended 5 Aprll 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrictèd Endowment fund fund Total fund5 INCOME AND ENDOWMENTS FROM Investment income 156,754 156.754 EXPENDITURE ON Raising funds 38.570 38,570 Charltable a¢tlvltle8 Grant making 55,000 7,372 62,372 Total 55,000 45,942 100.942 Net gainsl(1058es) on investments (282,468) (282.468) NET INCOMEI(EXPENDITURE) 101,754 {328,410) (226,656) RECONCIUATION OF FUNDS Total furbds brought fOard 113.498 4.704,565 4,818,063 TOTAL FUNDS CARRIED FORWARD 215,252 4,376,155 4,591,407 FIXED ASSET INVESTMENTS Llsted Investments MARKET VALUE Al 6 April 2023 Disposals Revaluations 4,420,377 126,877) 67,004 At 5 April 2024 4.460,504 NEf BOOK VALUE At 5 April 2024 4,460,504 At 5 April 2023 4.420,377 Page 8 continued...
THE BRENDA VERA COOPER CHARITABLE WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 5 APRIL 2024 FIXED ASSET INVESTMENTS - contlnued 5.4.24 5.4.23 £3,116,686 £3,195.163 £1,343,818 £1,225,519 Investm6nts held within UK Investments held outside UK DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.24 5.4.23 Other debtors 6,458 10,663 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.24 5.4.23 Other creditors 3.390 2,620 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 5.4.24 Total funds 5.4.23 Total funds Unrestrlcted Endowment fund fund Investments Currenl assets Current Ilabilities 4,460,504 (55,191) (3,390) 4,460,504 49,742 13.390) 4,420.377 173.650 (2.620) 104,933 104,933 4.401,923 4.506,856 4,591.407 12. MOVEMENT IN FUNDS Net movement in funds At 5.4.24 At 8.4.23 Unrestricted funds Generel fund 215,252 (110,319) 104,933 Endowment funds Brenda Ver8 Cooper Charitable Wlll Trust 4,376,155 25.768 4.401.923 TOTAL FUNDS 4,591,407 {84,551) 4.506.856 Page 9 continued...
THE BRENDA VERA COOPER CHARITABLE LL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024 12. MOVEMENT IN FUNDS- contlnuad Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestrlcted funds G8ngral fvnd 165,132 (275,451) (110,3191 Endowment fund8 Brenda Vera Cooper Charitable Will Twst 141,236) 67,004 25,768 TOTAL FUNDS 165.132 (316,6Bn 67,004 184,551) Comparatlves for movemont In funds Net rnOV8ment In funds At 5.4.23 At 6.4.22 Unrastrlctèd fund8 General fund 113,498 101,754 215,252 Endowment funds Brenda Vera Cooper Charitable Will Trust 4,704,565 {328,410> 4,376.155 TOTAL FUNDS 4,818,063 (226,658) 4,591,407 Comparatlve net movement In funds. Included In the above ar8 as follows.. In¢omlng resources Resources 8xpended Galns and Movement losses in funds Unrestrlcted funds General fund 156.754 (55,000) 101.754 Endowmènt funds Brenda Vera Cooper Charftable Will Trust <45,942) (282,468) {328,410) TOTAL FUNDS 156.754 (100.942) (282,468) 1226,656) Page 10 continued...
THE BRENDA VERA COOPER CHARITABLE WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 5 APRIL 2024 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 5 Aprll 2024. Page11