CharSty registration number 1176068 O'BRIEN CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENQED 31 MARCH 2024
O'BRIEN CHARITABLE Trusr LEGAL AND ADMINISTRATIVE INFORMATION Mr P N O'8rien Mr W Insklp Mlss V J O'Brlen Charlty number 1176068 Prindpal address Manor Cottage Church Lane Cubbington Leamin8ton Spa Warwltkshiie England CV32 7JT Independent examlner TCGroup Celhxir House Strattord Buslness & Technology Park Innovation Way, Banbury Road StratFoTd-upon-Avon Warwtckshire United KÉngdom CV37 7GZ
O'BRIEN CHARITABLE TRUST CONTENTS Pa8e Trustees report Independent examiner's report Statement of financial attivities Balance sheet Notes to the financial ststements 6-11
O'BRIEN CHARITABLE TRUST TRUSTEES AEPORT FOR fHE YEAR ENDED31 MARCH 2024 The trustèes present their annual report and financial ststements for the year ended 31 March 2024. The financial ststements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's tgoverninB documentl, the Charities Act 2011 and"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to choritie5 preparing thelr accounts In accordance with the Financial Reporn"ng Stsndard applicable in the UK and Republic of Ireland IF16 1021" (effective l January 20191. Oble¢ti¥es and actlvltles The ch3rtty's objective is to support such general tharitsble purposes as the trustees may in their absolute discretion determine in the Midlands. Si8nlfi¢ant artivities, a¢hlevtm¢nts and perfomiance Durtng the year, the charity has held various fijndiaislng events and ,along with the donation recwved from O'Brien Contrattors mIted, has been able to make donatfons out to oiher varlou5 chailttes as decided by the trustees. Publi¢ benefit The Trustee5 confirm that they have complied wbth thelr duty under Sectton 4 of the Charities Act 2011 to have due regard to the Charity Commission's general gL¢idance on public benefit. Volunteers The charity doe5 not utilise volunteers to assist with their work. Rnanclal review The net Ios5 for the period was £5,757, comprisin8 totsl incoming resources of £58,271, and total resources expended of £64,028. The charity's total funds for the period were a surplLtrS ts* £6.637. Re5erve5 poli The Trustees review the level of unrestricted reserves to ensure that they charity h45 SLrflicÈent funds to meet expendlture requirements. The Trustees conslder that the current level of unrestricted reserves is adequate. Strurtur¢. 8ouernano and mana8Èment The charity Is controlled by its governing document, a deed of trust and constitutes an unlncorporated charlty. The trustees who served during the year and up to the date of slgnature of the fi'nancial ststements were= Mr P N O'Brien Mr W Inskip Miss V J O'Brien Recruitmentandoppointment of tiustees Trvstees may be appointed by eKistsng Trustees in accordance with the Trust Deed of the Charity. New trustees vndergo an orientation process to brief them on their legal obligatlons under charity law, the charity's governirkg documents, the commlttee and decision making processes, the buslne55 plan and recent financial performancè of the tharity. Durin8 the induction process they meet other trustees. Trustee5 are encouraged to attend appropriate external and internal trainin8 events which wlll assist them in carrying out their role.
O'BRIEN CHAR ABLE TRU TRUSTEES REPORT {CONTINUEDI FOR THE YEAR ENDED31 MARCH2024 Rlsk management The trustees have a duty to ideniTfy and review the risk5 to which the charity is exposed and to ensure approprlats cofttrols are in plate to provide reasonable assurance against fraud and error. The trustees report was approved by the Board of Trustees. Mr W Inskip Trustee 20 December 2024
O'BRIEN CHARITABLE TRUST INDEPENDENT EXAMlhlER'S REPORT TO THE TRUSTEE5 OF O'BRIEN CHARITABLE TRUST I report to the trustees on my ex3mination of the financial statements of O'Brien Charitsble Trust Ithe charityl for the year ended 31 March 2024. R•sponslbllltfès and ba$is of rèport As the trustees of the charity you are responsible for the preparatton of the financial statements Ir* accordance with the reqLtlremeAts of the Charitfes Act 2011 (the 2011 Act). I report in respect of my examination of the charity'5 financial statements carried out under sethon 145 of the 2011 Act. In carryinB out my examination I have followed all the applicable Dire¢iions given by the Charity Commisslorb under settion 14515llbl of the 2011 Act. Independent examiner's 5tstement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporknng by Charities preparing their accounts in accordance with the Financial Reputing Standard applicable in the UK and Republic of Irelaftd IFRS 1021 in preference to the Ac¢ountin8 and Reporting by Char6tles.' Statement of Recomwnended Practice i55ued on l April 2005 which 15 refewred to in the eXtt regulations but has now been withdrawn. l understand that thls has been done In order for flnanclal statements to provide a true and tsir view a¢cord8n¢e with Generally Accepted Accounting Practice effective fow reporting periods beginning on or after I January 2015. I have completed my examinatlon. I conh.rm that no matter5 have come to my attention In ¢onne¢ti¢n whh the examination giving me cause to believe that in any material re5peLt= accounting fecords were not kept in respett of the charity as reouired by section 130 of the 2011Att,' 01 the linancial statements do not accord with those records.. or the financial statement5 do not comply with the applicable requirements concerning the fom and content of accounts set out in the Charities IActounts and Reports) Regulations 2008 other than any requirementthat the accounts glve a true and falr 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 whh attention should be drawn in ihi5 report in order to enable a proper understanding of the th"nanci31 statsments to be ached. Ic o.. TC Group Celixir House Stratford Business & Technology Park Innovation Way, Banbury Road StratFord-upon-Avon Warwickshire CV37 7GZ United Kingdom Dated.. 20 Llecember 2024
O'BRIEN CHARITABLE TRUST STATEMENT OF FINANCIAL A1VITIEs INCWDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED31 MARCH2024 Unrestrlrted funds 2024 Unrestrlcted funds 2023 Not•s Income from: Donations and legacies 58,271 61,135 Totsl Income 58,271 61,135 Expendlture on: Charitsble activities 64.028 74.850 Total expendltu 64,028 74,850 Nèt expendlture and mo¥Èm¢nt In funds 15,7571 113,7151 Recon¢511atlon of funds: Fund balances at l April 2023 12,394 27,109 Fund balances at 31 March 2024 6,637 13,394 The statement of linancial activities includes all gains and losse5 Tecognised in the year. All Ir*ome and expenditure derive from continulng activlle5.
O'BRIEN CHARITABLE TRU 8ALANCE SHEEr ASAT31 MARCH 2024 2014 2023 Notes Current assets Debtor5 Cash at bank and In hand 1,350 26,208 1,0 35,092 27.558 36,092 Creditors: amounts flIng dye vAth5n (me year 120,9211 122,6981 Net ¢urr¢nt assets 6,637 13.394 Net assets 6,637 13.394 The funds of the charlty Unrestricted tunds 6,637 13.394 6.637 13,394 The financial statemefits werè approved by the trustees on 20 December 2024 Mr W Inskip Trustee
O'BRIEN CHARITABLE TRUST NOT TO THE FINANCIAL sfATEMEPITS FOR ThE YEAR ENDED31 MARCH2024 Accountln8 poIIti*s Charlty Ib)formation O'Brien Charitsble Trust is a unincorporated charity. 1.1 Atcountlrtg tonvention The financial ststements have been prepared in atcordante with the charity's tgoveming documentl, the Chaiities Act 2011, FRS 102 "The Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland" I"FR5 102.1 and the Charities SORP "Accounting a Reportiw)8 by Charities-. Statement ol Recommended Practice applicable to charlties preparÈng their 3¢counts in accordance with the Financ1 Reporting Standard applicable in the UK and ItÈpublit of Ireland IFRS 1021" (effective l January 20191. The charity is a Publlc 8enpfft ErEtity as defined by FRS 102. The charity has tsken advantsge of the provislons the SORP for charities not to prepare a Statement of Cash Flows. The financial ststèmertts have departed from the Charities (Accounts and Reports) RegulaOon$ 2008 only to the extent required to provide a true and fair view. This departure has involved ft)Ilowing the Ststement of Recommended Practice for charities applysng FRS 102 rather than the ver5ton of the Statement ol Recommended Practice which is refeed io in the Regulations which has since been withdrawn. The financSal stattments are prepared in sterling, which is the funthonal currency of the chaiity. Monetsry amounts in these financial statements are rounded to the neayèst £. The fi'nancial ststements have been prÈp3red under the historical cost convention. The principal aQoUnng policies adopted are set oltt below. 1.2 Charltsble funds Llnrestricted funds are available lor use at the discretion of the trustees in furtherance of their tharitsble obthecttves. Restricted fvnds are subject to speclfit condltfions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial ststements. Endofftent funds are subjert to speclfic conditions by donors that the capital must be maintsined bythe charity. 1.3 Income Income is recognised when the ch3rity is legally entitled to it after any performance condldons been met, the amounts can be measured reliably. and it is probable that income will bè receivèd. Cash donations are recognised on receipt. other donation5 are recognised once the charity has been notifted of the donation. unless perft>rmante tondityons require deferral of the amount. Income tsx recoverable in 130 to donations ieceived under Gift Aid or deeds of covenant is recognised at the tlme of thè donatfon.
0'8RIEN CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMETrtrs ICONnNUEDI FOR THE YEAR ENDED 31 MARCH2024 Ac<ountlng polldes (Conrfnued) LeÉ4¢bes are recognised on receipt or othetWi5e if the charity ha5 been notified of an impendin8 distribution, the amount ts known, and reIpt is expetted. If the amount is not known, the legacy is treated a5 a contingent asset. 1.4 Expènditurt Expenditure is recognised oncè therè Is a legal or tonstrLtrCtTrvÈ obli83tion to transfer etonomic b&)efi"t to a third party, it 15 probable that a transfer of economic benefits will be required in Settlement, andthe amount of the obligation can be measured reliablv. Expenditure Is classified by activity. Thè costs of each attlvlty arè made up of the totsl of dIrt t05ts and shared costs, including 5UPPOrt Costs involved in undertaking each activity. Direct C05t5 attributslAe to a sinÈle activity ale allocated directly to that activity. Shared costs which contribute to more than one achvity and support costs which are not attributable to a single activity are appooned between those artwities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depre¢lafjon ¢har8es a allorated on the portion of the asset'5 Use. 1.5 Cash and cash equlvalents Cash and cash equiv3lent5 include cash in hand, deposits held at call with banks, other short_term liquid investments with original maturities of three month5 or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.6 Flnandal Instruments The charity has elected to apply the provisions of Sertion 11 'Basic Financial Instiuments, and Section 12 'Other Financial Instruments Issuès, of FRS 102 to all of it5 financial instruments. Financial instruments are recognised in the charity'5 balance sheet when the charity becomes party to the contractual prOvlOnS of the instrument. Financial assèts and liabi14ties are tsffset, with the net amounts presented in the financal ststèmÈrts, when there is a legally enforceable right to set off the recogni5ed amounts and there is an intention tosettle on a net basis or to realise the asset and settle the liability simultsneously. Buslcfinunclolossets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are stJbseqLTrently carried at amortised cost using the effective interest method unless the arrangement constitutes a ftnanting transaction. where the transaction is measured at the present value of the future rèceipts discounted at a market rate of interest. Financial a55ets Classifled as receivable withln one year are not amortised.
O'BRIEN CHARITABLE TRvsr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 Accountin8 pollcies {Contfnu¢d) 8oslcfintsn¢lolliabllities Basic financial liabilitie5, including creditors and bank loans are initially recognised at transathon price unle55 the arrangement constTlute5 a linancing tfansathon, where the debt instrument is measured at the present value of the futuré payments discountsd at a market rate of interest. FinantÈal liabilities classified as payable within one year are not amortssed. Debt instruments a subsequently carried at amortised c05t, Using the effectfive interest rate method. Trade Creditors are obliEations to pay for goods or servtces that have been acquired in the ordinay course of operatiot)s from suppliers. Amounts payable are clèssilied as current liabilities if payment is due within one year or less. If n(rt, they are presented as non.current Iiabilitr'e5. Trade creditors are recogni5ed inibally at transaction prite and subsequently measured at amortised c05t using the effèthve iAtere5t method. Dere¢ognitiOn ojfinanclalllobllldes FÉnancial liabilities are derecognised when the charity's Contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The cost of any tjnused holiday entitfement is recogni5ed in the period in which thè èmployee's services are received. Termination benefits are recognised immed43tely as an expense when the charity is demonstrably commStted to termlnate the employment of an empl(ryee or to provide termination benefft5. Crltltal atcounting estimatss and Judgements In the application of the charity's accountinB pg1icie5, the trustees are required to make judgements. estimates ènd a55ymptions aboLrt the carrying amount of setS and liabile5 that are not readily apparent from other sources. The estimate5 and associated assumptions ère based on historical experlence and other factor5 that are considered to be relevant. Actual results may differ from these estimates. The est"mates and underlying assumpiions arÈ reviewed on an ongolng ba515. Revisions to accounting estt"mates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the Tevision and future periods where the revr5ion affects both current and future pe¥iod5. Income from donations and l*8a£le$ Unrèstrlrted funds 2024 Unre5trlcted funds 2023 Donafjons and 8lfts 58,271 61,135
O'BRIEN CHARITABLE TRU 14OTES TO THE FINANCIALSTATEMEwfs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2024 Empendlture on charitsble ¥¢tivlties Vnrestrirted Unrestrlcted funds fund5 2024 2021 Dlrert costs Sundries Charity donatlons Venue costs Meetings- food & beverages Website 4,053 52,358 6,787 66 240 2,207 64,650 6,852 590 63,504 74,299 Share of support and Bovernance costs (see note 5} Support 524 551 64,028 74.850 Analysi5 by fund Unre5rricted funds 64,028 74.850 Support costs allocated to activities 2024 2023 Independertt examiner fee5 Bank charges 462 62 520 31 524 551 Analysed between: Unrestricted funds 524 551 Trustees There were no trustees, reMUneraOn or other benefit5 for the year ended 31 March 2024 nor ftsr the year ended 31 March 2023. There were no trustees, expenses paid for the yeèr ended 31 March 2024 nor for the year ended 31 March 2023.
O'BRIEN CHARifA8LE Tftusr NOTES TO THE ANANCIAL STATEMEfvifs (CONTINUED) FOR THE YEAR ENDED 31 MAR012024 Taxatlon The charity 15 exempt from taxation on Its athvitie5 because all its irKome is applied for charltsble purposes. Debtsrs 2024 2023 Amounts falllng due withln one year: Other debtors Prepayments and accrued income 300 1.050 1,000 1,350 1,000 Credltoys: amount5 fa115ng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 20.521 22.298 400 20,921 22.698 10 Unrestrlcted funds The unrestrirted funds of the charity comprise the unexpended balances of donation5 and grants whlch are not subject to specific conditions by donors and grdntors as to how they may bè used. These include designated funds which have been Set aslde out of unrestricted funds by the trustees for specific purposes. At l Aprll 2023 Incomlng resources Rèsour¢es At 31 March Èmpended 2024 General funds 12,394 58,271 164,0281 6,637 Previous year: At l Aprll 2022 Incoming resOue5 ResOue$ At 31 March expended 2023 General funds 27.109 61,13S 174,8501 13,394 10-
O'BRIEN CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 11 Related party transaciions During the perlod, the Charity recetved donations of £1S.1)0012023'. £30.c(Kil from O'Brien Contrattors Limited, a company which Mr P N O'Brien is a director. At the year end a balance of £30012023: £659 owed tol was due from O'Brien Contrartors Limited.