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2023-12-31-accounts

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Trustees’ Annual Report for the period

From 01/01/2023 Period start date To Charity name: Wealthtime Foundation

31/12/2023 Period end date

Charity registration number: 1176128

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 (1) Such exclusive charitable objects and
purposes, for the public benefit, in any
part of the world as the charity trustees
may in their discretion think fit.
(2) Nothing in this constitution shall
authorise an application of the property
of the CIO for the purposes which are
not charitable in accordance with
section 7 of the Charities and Trustee
Investment (Scotland) Act 2005 and
section 2 of the Charities Act (Northern
Ireland) 2008.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 The Wealthtime Foundation was
established to support projects and
initiatives for the benefit of people in and
around the city of Bath, and other parts of
the UK at the discretion of the trustees. The
charity does so by raising funds through
fundraising activities and the receipt of
donations which it in turn uses to provide
grants to local charities and initiatives that
align with its objects. The charity’s trustees
agreed during the reporting period that the
charity should specifically focus on helping
those it supports to ‘pursue their potential
together’ (its ‘Purpose’) and to broaden its
support for charities and initiatives further
afield in the London and Salisbury areas.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 All trustees are aware of the charity’s
objects and the need for them to exercise
their powers for and with regard to the
public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 The Wealthtime Foundation trustees
agreed in January 2023 that the charity’s
policy on grant making should align with the

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

charity’s aforementioned Purpose wherever possible. Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The Wealthtime Foundation (then known
as the Novia Foundation CIO) continued to
support smaller charities and charitable
causes throughout the reporting period in
the Bath area and raise funds for its grant
making activities. Two of the charity’s
trustees took part in a Three Peaks
challenge in July 2023 which raised more
than £6,000 for the Foundation.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Investment performance
against objectives		 Para 1.41
Other

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The Wealthtime Foundation received
£13,915 during the reporting period and
spent £15,923 on charitable activities. The
charity had cash funds of £12,754 at the
end of the reporting period.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The Wealthtime Foundation seeks to
distribute all monies it has raised through
fundraising events and charitable donations
and the cash still held in reserve at the end
of the reporting period was a result of
timing rather than a deliberate
accumulation of reserves.
Amount of reserves held Para 1.22 £12,754 held in the Wealthtime
Foundation’s bank account at the end of
the reporting period for the reason stated
above.
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 N/A

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 Fundraising and donations made by the
staff of Novia Financial plc (t/a Wealthtime)
and Wealthtime Ltd and the wider public
more generally.
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Constitution
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 CIO
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Appointment by the board of trustees
following an interview process

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51 Provision of the charity’s CIO and annual
report and accounts in accordance with the
charity’s constitution.
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51 The charity’s board of trustees strives to
meet at least 4 times a year in accordance
with an agreed upon terms of reference
outlining its duties, responsibilities,
membership, quorum requirements and
standing items amongst other matters.
Meetings of the charity are organised by
the board’s chair and minutes and records
of these meetings are kept and stored at
the charity’s principal address.
Relationship with any
related parties		 Para 1.51
Other

Reference and Administrative details

Charity name Wealthtime Foundation
Other name the charity uses
Registered charity number 1176128
Charity’s principal address Cambridge House
Henry Street
Bath
BA1 1EB

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Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
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18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee(if any)
Robert Vaudry Chair The Wealthtime Foundation
board of trustees
Lucy Bristow From 21/03/2023 The Wealthtime Foundation
board of trustees
Joanne Benson From 06/10/2023 The Wealthtime Foundation
board of trustees
Neil Harvey From 06/10/2023 The Wealthtime Foundation
board of trustees
Martin Jackson From 12/12/2023 The Wealthtime Foundation
board of trustees
Jackie Baker From 14/02/2024 The Wealthtime Foundation
board of trustees

– Corporate trustees names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
N/A

Docusign EnvelopÈ ID." OCDOOA5848E444AC-A2D(k43A066119FD9

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Additional information (optional)
Names and addresses of advisers (Optional information)		 Additional information (optional)
Names and addresses of advisers (Optional information)		 Additional information (optional)
Names and addresses of advisers (Optional information)
Type of
adviser
Name
Address
Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date

Lucy Bristow		 Martin Jackson

31/10/2024

31/10/2024

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Wealthtime Foundation Wealthtime Foundation Wealthtime Foundation 1176128
For the period
from		 01/01/2023 To 31/12/2023

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest
£
13,915
-
-
-
-
-
-
-
13,915
-
-
-
13,915
15,923
61
350
-
-
-
-
-
-
16,334
-
-
-
16,334
- 2,419
-
-
- 2,419		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £		 Total funds
to the nearest £
13,915
-
-
-
-
-
-
-
13,915
-
-
-
13,915
15,923
61
350
-
-
-
-
-
-
16,334
-
-
-
16,334
- 2,419		 Total funds
to the nearest £
13,915
-
-
-
-
-
-
-
13,915
-
-
-
13,915
15,923
61
350
-
-
-
-
-
-
16,334
-
-
-
16,334
- 2,419		 Last year
to the nearest £
Fundraising 13,915 -
-
-
-
-
-
-
-
-		 13,915 -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
Sub total(Gross income for
AR)		 13,915 13,915 -
A2 Asset and investment sales,
(see table).
- -
-
-		 -
- - -
Sub total - - -
Total receipts
A3 Payments
- 13,915 -
Charitable activities 15,923 -
-
-
-
-
-
-
-
-
-		 15,923 -
Bank fees 61 61 -
Invoiced expenses 350 350 -
- - -
- - -
- - -
- - -
- - -
- - -
**Sub total ** 16,334 16,334 -
A4 Asset and investment
purchases, (see table)
- -
-
-		 -
- -
**Sub total ** - - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
- 16,334 -
- 2,419 - - - 2,419 -
- - -
-		 - -
- - - -
- 2,419 - - - 2,419 -

CCXX R1 accounts (SS)

31/10/2024

1

Docusign Envelope ID: 0CD00A58-68E4-44AC-A2D0-43A066119FD9

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets
 Signature
Details
Details
Bank account
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
12,754
-
-
-
-
-
12,754
-
Agreement Error
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
Lucy Bristow
Martin Jackson		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
31/10/2024
31/10/2024

CCXX R2 accounts (SS)

31/10/2024

2