FB Coales No4 (Family) Trust Unaudited Report and Accounts
For the year ended 5 April 2024
Charity Registration No. 1179856
FB Coales No4 (Family) Trust Contents
| PAGE | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 - 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the Financial Statements | 7 - 10 |
FB Coales No4 (Family) Trust Legal and Administrative Information
Charity Name FB Coales No4 (Family) Trust Charity Number 1179856 Trustees Christopher Paul Winn John Burton Sarah Louise Hashmi Registered Office C/O Winn & Coales (Denso) Ltd, Denso House 33-35 Chapel Road London SE27 0TR Independent Examiner Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP Bankers Barclays Bank Plc Level 27 1 Churchill Place London E14 5HP
Page 1
FB Coales No4 (Family) Trust Report of the Trustees For the year ended 5 April 2024
The Trustees are pleased to present their annual report with the financial statement of FB Coales No4 (Family) Trust (Charity Registration No. 1179856, registered in England and Wales) for the year to 5 April 2024. These are also prepared to meet the requirement for accounts for the Charities Act 2011 purposes.
The Trustees present a summary of 2024 for FB Coales No.4 (Family) Trust. The previous period was for 6 April 2022 to 5 April 2023.
Our ambition remains the broadly the same, the support of any charity whose main purpose or one of whose main purposes are the relief of:
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Physical ill health
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Mental ill health
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Children in need or distress of any sort
These purposes are set out in the Trust Deed where the trust is constituted for such purposes as are recognised by the Charity Commission to be charitable for for public benefit.
Achievements and Performance
During the year we have made donations totalling £176,100 to charities in line with the above purpose.
Plans for the Future
The trustees will continue to seek out charities to support which meet the purpose of the trust.
Financial Review
The trust received £225,000 from its investments during the year, which enabled the trust to meet all its administrative expenses and make donations in line with its purpose. At the year end, the trust has cash of £872,799, reserves of £893,199 and is in a healthy position to continue to make donations in line with its purposes in the future.
The trustees review the investments and cash reserves of the trust on an informal basis and ensure there is sufficient cash to meet the immediate needs of the trust. The Trustees will meet to discuss the activites of the Charity, if and when needed.
Structure and Governance
The trustee's during the year and up to the reporting date were:
Christopher Paul Winn John Burton Sarah Hashmi
The trust is an unicorporated charity governed by its original Trust Deed dated 10th November 1964. It is registered with the Charity Commission.
There are three independent Trustees who are responsible for the governance of the trust. An external investment advisor is also used and where necessary external tax advisors.
New trustees shall be appointed at the discretion of the current trustees.
Page 2
FB Coales No4 (Family) Trust Report of the Trustees (Continued) For the year ended 5 April 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.)
Charity law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming/outgoing resources and application of resources, including the income and expenditure, of the charity for that year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charirties Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of Trustees and signed on their behalf by:
John Burton Trustee Date: 15th January 2025
Page 3
Independent Examiner's Report to the Trustees of FB Coales No4 (Family) Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024.
Responsibilities and basis of report
As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommend Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in 'The UK and Republic of Ireland (FRS 102)'.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
6th Floor 9 Appold Street London EC2A 2AP
Date:
Anna Matveeva (FCA, ICAEW) For and on behalf of Moore Kingston Smith LLP Chartered Accountants
Page 4
FB Coales No4 (Family) Trust Statement of Financial Activities For the year ended 5 April 2024
| Note INCOME AND ENDOWMENTS FROM: Investment Income 3 Total EXPENDITURE ON: Charitable activities 4 Other 4 Total Net income/(expenditure) Transfers between funds 10 Net movement in funds Total Funds bought forward Total Funds carried forward |
Unrestricted Unrestricted Funds Funds For Year to For year ended 2024 5 April 2023 £ £ 225,000 125,000 225,000 125,000 176,100 272,155 5,047 3,716 181,147 275,871 43,853 (150,871) - - 43,853 (150,871) 849,266 1,000,137 893,119 849,266 |
Unrestricted Unrestricted Funds Funds For Year to For year ended 2024 5 April 2023 £ £ 225,000 125,000 225,000 125,000 176,100 272,155 5,047 3,716 181,147 275,871 43,853 (150,871) - - 43,853 (150,871) 849,266 1,000,137 893,119 849,266 |
|---|---|---|
| 125,000 | ||
| 272,155 3,716 |
||
| 275,871 | ||
| (150,871) - |
||
| (150,871) 1,000,137 |
||
| 849,266 |
Page 5
FB Coales No4 (Family) Trust Balance Sheet As at 5 April 2024
| Note Non-Current Assets Investments 8 Current Assets Cash at bank and in hand Creditors: Amounts falling due within one year 9 Net current assets/(liabilities) Net assets/(liabilities) Funds Unrestricted funds 10 Total Funds/(Deficit) 10 |
£ £ 25,000 872,799 (4,680) . 868,119 893,119 893,119 893,119 2024 |
£ £ 25,000 828,646 (4,380) 824,266 849,266 849,266 849,266 2023 |
£ £ 25,000 828,646 (4,380) 824,266 849,266 849,266 849,266 2023 |
|---|---|---|---|
| 849,266 | |||
| 849,266 |
The Trustees have not required the charity to obtain an audit.
Approved by the Trustees on …....................................... and signed on their behalf by:15th January 2025
................................................................ John Burton Trustee
Charity Registration No. 1179856
Page 6
FB Coales No4 (Family) Trust Notes to the Financial Statements For the year ended 5 April 2024
1 Accounting Policies
Charity information
FB Coales No4 (Family) Trust is a charity registered in England and Wales. The registered office is Denso House, 33 - 35 Chapel Road, London, SE27 0TR.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepares its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The principal accounting policies, which are applied consistently, are set out below.
1.2 Going Concern
The financial statements have been prepared on a going concern basis.
Having carried out a review of the charity's resources and the current economic challenges facing both the chairty and its members the Trustees are satisfied that the charity has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements.
1.3
Incoming Resources
Income is recognised in the Statement of Financial Activities when it becomes receivable, and the entitlement, measurement and probable principles are met.
1.4 Rescources Expended
Expenditure is included in the SOFA on the accruals basis.
Charitable activites comprise of costs of activities in furtherance of the charity's objectives. It includes direct costs of activities and those costs of an indirect nature necessary to support those activities, allocated between expenditure categories on an appropriate basis.
1.5 Fixed asset investments
The Fixed asset investments are unlisted equity investments. These will initially be measured at cost and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. In the event that fair value cannot be reliably measured, they will be measured at cost less impairment.
1.6 Cash at bank and in hand
Cash includes cash in had, deposits held at call with banks, other short-term liquid investments with maturities of three months or less and bank overdrafts.
1.7
Fund Accounting
Unrestricted funds are those which are available for the general purposes of the charity at the discretion of the Trustees.
The FB Coales No4 (Family) Trust does not have any restricted funds.
1.8 Critical accounting estimates and areas of judgement
In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
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FB Coales No4 (Family) Trust Notes to the Financial Statements (Continued) For the year ended 5 April 2024
2. Net expenditure for the year
| This is stated after charging: Independent examiner's fee Investment Income Dividend Income Expenditure Charitable activities Donations Other Bank fees IE Fee |
Unrestricted 2024 £ 4,680 Unrestricted 2024 £ 225,000 Unrestricted 2024 £ 176,100 367 4,680 5,047 181,147 |
Unrestricted 2023 £ 3,684 |
|---|---|---|
| Unrestricted 2023 £ 125,000 |
||
| Unrestricted 2023 £ 272,155 |
||
| 32 3,684 |
||
| 3,716 | ||
| 275,871 |
3. Investment Income
4. Expenditure
5. Employee Costs
There were no employees during the year (2023: 0).
There were no employees with employee benefits in excess of £60,000 (2023: £60,000).
6. Trustees and Key Management Personnel
The Charity considers key management personnel to comprise the Trustees. The total employment benefits of key management personel were £nil (2023: £nil).
During the year Trustees received £nil (2023: £nil) for the reimbursement of expenses.
7. Taxation
The Charity is not liable to Corporation Tax as the income is of an exempt nature.
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FB Coales No4 (Family) Trust Notes to the Financial Statements (Continued) For the year ended 5 April 2024
| ales No4 (Family) Trust to the Financial Statements (Continued) e year ended 5 April 2024 |
||
|---|---|---|
| 8. Investments Cost at 5 April 2023 and at 5 April 2024 Impairment at 5 April 2023 and at 5 April 2024 Net book value At 5 April 2024 At 5 April 2023 9 Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 4,680 |
Fixed Asset Investments £ 25,000 |
| - | ||
| 25,000 | ||
| 25,000 | ||
| 2023 £ 4,380 |
| 10 Movement in Funds Unrestricted Funds |
£ 849,266 At 6 April 2023 |
Income £ 225,000 |
Expenditure £ (181,147) |
Transfers £ - |
£ 893,119 At 5 April 2024 |
|---|---|---|---|---|---|
11 Allocation of Net Assets between Funds
| Unrestricted funds Total funds |
Fixed Assets £ 25,000 25,000 |
Current Assets £ 872,799 872,799 |
Current Liabilities £ (4,680) (4,680) |
Total £ 893,119 |
|---|---|---|---|---|
| 893,119 |
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FB Coales No4 (Family) Trust Notes to the Financial Statements (Continued) For the year ended 5 April 2024
12 Related Party Transactions
During the year, the Charity entered into transactions, in the ordinary course of business, with other related parties. Transactions entered into, and balances outstanding as at 5 April 2024, are as follows:
| Amounts paid to related parties during the year Amounts received from related parties during the year |
2024 £ - 225,000 |
2023 £ - |
|---|---|---|
| 125,000 |
Transactions with related parties are made under normal market conditions. The income is dividend income of £225,000 (2023: £125,000) from Winn & Coales International Limited and the Trustees of this Trust are also Directors of Winn & Coales International Limited. No amount is outstanding at the year end.
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