The Wilson Foundation
Trustees’ Report and Financial Statements Year ended 5 April 2024 Charity number: 1189601
The Wilson Foundation
Contents
| Reference and administrative information | 1 |
|---|---|
| Report of Trustees | 3 |
| Independent examiner’s report to the trustees of the Wilson Foundation | 7 |
| Statement of Financial Activities (including income and expenditure account) | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements | 10 |
The Wilson Foundation
Reference and administrative information
Charity Name The Wilson Foundation Registration 1189601 Number Nicholas Connolly Wilson (Chairman) (appointed for 5 years from 23 Trustees March 2023) Marcus Dominic Learoyd (appointed for 5 years from 27 February 2024) Pollyanna Sarah Wilson (appointed for 3 years from 21 March 2023) Adam Charles Welch (appointed for 4 years from 21 May 2020) Anthony Clive Hewitt (appointed for 5 years from 21 May 2020) Thomas Joseph Wilson (appointed for 5 years from 23 March 2023) Power to Appoint The maximum number of Trustees is 10. Future Trustees shall be appointed by resolution of the Trustees for a term of 5 years. A retiring Trustee who is competent to act may be reappointed at the end of their term of office. Governing Deed of Constitution dated 21 May 2020. Document Registered Address The Maltings Tithe Farm Moulton Road Holcot Northampton NN6 9SH Bankers Barclays Bank Plc 1 Churchill Place London E14 5HP Accountants KPMG LLP 2 Forbury Place 33 Forbury Road Reading RG1 3AD
1
The Wilson Foundation
Reference and administrative information (continued)
Investment Managers Whitley Asset Management 116 Princedale Road London W11 4NH Independent Simon Knee, S D Knee Chartered Accountants Examiner S.D. Knee Ltd 10 Bath Road Old Town Swindon Wiltshire SN1 4BA Legal Advisers HCR Hewitsons Lancaster House Nunn Mills Rd Northampton NN1 5GE
2
The Wilson Foundation
Report of Trustees
The Trustees present their report and the financial statements for the year ended 5 April 2024 The financial statements comply with the Foundation’s Deed of Constitution, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) as it applies from 1 January 2015.
Structure, governance and management
The Charity was established by a Deed of Constitution dated 21 May 2020, where the assets and liabilities of the former charity, The Wilson Foundation, registered number 1074414 were transferred to the Charitable Incorporated Organisation (CIO) The Wilson Foundation registered number 1189601
The Trustees who served during the year were as follows:
Nicholas Connolly Wilson (Appointed Chairman) Marcus Dominic Learoyd Fiona Wilson (retired 27 February 2024) Anthony Clive Hewitt Pollyanna Sarah Wilson (Administrative Trustee) Adam Charles Welch Thomas Joseph Wilson
The maximum number of Trustees is 10. Future Trustees shall be appointed by resolution of the Trustees for a 5 year term.
A retiring Trustee who is competent to act may be reappointed at the end of his term of office. Any new Trustees would be trained and inducted by the other Trustees.
All decisions affecting the management of the CIO and its assets are taken by the Trustees. Any decision maybe taken either at the meeting of the Trustees or by resolution in written or electronic form. The Trustees receive their investment advice from Whitley Asset Management.
The CIO does not actively fundraise and seeks to undertake its charitable objectives through the careful stewardship of its existing resources.
The Trustees have examined where there may be risks which the CIO could face and confirm that systems have been established to enable steps to be taken to lessen these risks.
Objectives and Activities
The Trustees may apply the income of capital of the CIO for the benefit of such charitable objects or institutions in any part of the world as they see fit.
3
The Wilson Foundation
Report of Trustees (continued)
Public Benefit
The Trustees consider that they have complied with their duty as set out in Section 17 Charities Act 2011, which is to have regard to the guidance on public benefit published by the Charity Commission when exercising any powers or duties to which the guidance is relevant.
The Trustees have demonstrated Public Benefit by making total grants of £156,682 (2023: £409,062) in the period. This Report of the Trustees details the areas of focus for the Trustees and how funds have been allocated by them.
Achievements and performance
The Total Grants awarded were slightly lower than an average year and the number of refusals were higher than last year. Primarily the refusals have been for living expenses or University Fees and on occasion the applicants have been 21 years or over or living outside of Northamptonshire.
Professional fees and expenses at Longtown (£81,857) have been high due to the new building project. Since getting to the tender stage, the new build has since been discounted and a feasibility study ongoing to find an alternative option to create the space required for the centre going forwards. Notably KPMG advised that the VAT element of the standalone new build was not recoverable and the project became unviable financially. Expenditure on Investment Management Fees was as expected and the value of the portfolio with Whitley Asset Management was £6,900,504 as at 31st March 2024. The Trustees are happy with their performance.
Larger Donations have included the following; Northampton Saints Foundation was awarded £30,000 towards their education programme and The Prince’s Trust have received £10,000 towards their Achieve programme. Longtown Outdoor Learning Centre received £56,094 to fund the blanket bursary which aids school groups struggling to attend without financial support. NAYC also received their annual funding of £10,000 towards the Emerging Leaders Expedition.
Other donations included:
We funded the transport for the Pacesetter Games once again at £8,500 and Northampton School for Boys received £3,500 towards the Talent Camp. £5,000 was awarded to Northampton Music Festival. £7,500 funded a new outdoor play area at Braunston Primary School and £6,000 funded the U14 Hotshots Basketball Team in their National competitions.
Individual young people also benefitted from funding towards residential trips - £4,200 has enabled 22 young people to attend various scouting trips and £3,597 helped to fund residential trips for 47 children. 26 Music and Dance opportunities have received funding of £3,412. £2,000 enabled Kingsley Learning Foundation to increase their after-school capacity. Other local charities and projects have also benefitted.
4
The Wilson Foundation
Report of Trustees (continued)
Financial Review
The results for the period are shown on page 8 and 9. The principal funding source of the Charity was investment income of £114,477 (2023: £72,167). No fundraising activities were undertaken during the period. The main objectives of the Charity have been met by the Trustees approving donations totalling £156,682 (2023: £409,062) as shown on pages 13 to 15.
Trustees’ risk assessment
The Trustees have examined the major strategic, business, and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks. The Trustees consider that adequate controls are in place to mitigate any risks.
The Trustees review the performance of the investments and of the investment managers – Whitley Asset Management – on a regular basis. Cheques under £5,000 only require one signature and those payments over £5,000 require the signature of two Trustees. The cheque book is held at the principal office. The payment of grants in excess of £50,000 require the approval of the majority of Trustees in writing.
Reserves policy
At the period end the Foundation had unrestricted reserves of £8,378,888.
It is the policy of the Trustees to retain a reserve of investments with a view to providing cash from income and capital appreciation to provide grants of an amount agreed by the Trustee’s during each year.
5
The Wilson Foundation
Report of Trustees (continued)
Statement of Trustees’ responsibilities in respect of the Trustees’ Report and the financial statements
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
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 accounting standards 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 operation.
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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 Trustees and signed on _____ by:
Nicholas Connolly Wilson
6
The Wilson Foundation
Independent examiner’s report to the trustees of the Wilson Foundation
I report on the accounts of the CIO for the year ended 5 April 2024, which are set out on pages 8 to 18.
Respective Responsibilities of Trustees and Examiner
This report is made solely to the CIO's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011 ("the Act") and regulations made under section 154 of the Act. My work has been undertaken so that I might state to the Trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the CIO and the CIO's Trustees as a body, for my work, for this report, or for the opinions I have formed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.
It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SD Knee Chartered Accountant 10 Bath Road, Old Town, Swindon, Wiltshire, SN1 4BA
Date ………………………………………
7
The Wilson Foundation
Statement of Financial Activities (including income and expenditure account) Year ended 5 April 2024
----- Start of picture text -----
Note Y.E. 2024 Y.E. 2023
£ £
Income and endowments from:
Investments 2 88,297.83 55,316.86
Bank Interest 3 26,179.43 16,849.99
Total income 114,477.26 72,166.85
Expenditure on:
Charitable activities
Longtown expenditure 11 (194.00) (23,831.77)
Grants payable 5 (156,681.97) (409,061.70)
Governance costs 4 (10,947.80) (10,738.80)
Depreciation 11 (7,842.49) (7,842.49)
Raising funds
Investment management fees 4 (68,027.66) (69,380.72)
Total expenditure (243,693.92) (520,855.48)
Net gains/(losses) on investments 7 652,432.30 (428,857.28)
Net income/(expenditure) 523,215.64 (877,545.91)
Other recognised gains/(losses):
Other gains/(losses) (8.88) 75.09
Net movement in funds for the year 523,206.76 (877,470.82)
Reconciliation of funds:
Total funds brought forward 7,855,680.83 8,733,151.65
Total funds carried forward 8,378,887.59 7,855,680.83
----- End of picture text -----
The notes on pages 10 to 18 form part of these financial statements
8
The Wilson Foundation
Balance Sheet
Year ended 5 April 2024
----- Start of picture text -----
Note 2024 2023
£ £
Fixed assets:
Investments at market value 7 6,050,143.77 5,832,657.13
Cash held for investment 9 850,360.69 602,271.12
Northamptonshire County Cricket Club Shares 8 100,000.00 100,000.00
Longtown Outdoor Education Centre 11 1,325,792.19 1,251,777.13
8,326,296.65 7,786,705.38
Current assets:
Dividends due - -
Cash at bank 9 90,231.14 118,490.04
90,231.14 118,490.04
Current liabilities:
Creditors: amounts falling due within one year 10 (37,640.20) (49,514.59)
Net current assets 52,590.94 68,975.45
Net assets 8,378,887.59 7,855,680.83
The funds of the charity:
Unrestricted funds 8,378,887.59 7,855,680.83
Total charity funds 8,378,887.59 7,855,680.83
The financial statements were approved by the Trustees on 2025 and signed on its
behalf by:
Nicholas Connolly Wilson
Chairman on behalf of the Trustees
----- End of picture text -----
The notes on pages 10 to 18 form part of these financial statements
9
The Wilson Foundation
Notes to the financial statements
1 Accounting policies
Basis of preparation and assessment of going concern
These financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments to market value and are in accordance with Accounting and Reporting by Charities: Statement of 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 1 January 2019) (‘the SORP’), the Charities Act 2011 and applicable United Kingdom accounting standards.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’.
This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
The Trust constitutes a public benefit entity as defined by FRS 102.
Grants made
Grants authorised and paid by the Trustees are included within the Statement of Financial Activities. Grants which have been authorised by the Trustees but not yet paid are accrued in the Balance Sheet and included in creditors falling due within one year.
Incoming resources
Income from all sources is accounted for as soon as the Foundation has received the income. Investment income, consisting of bank interest and net dividends are accounted for on a receivable basis.
Resources expended
All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs directly attributable to that activity. Where costs (including overheads) cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources and the time spent on those activities. Charitable activities include expenditure associated with grant making and include both the direct costs and support costs relating to these activities.
Governance costs are those incurred in the governance arrangements of the Foundation which relate to the general running of the Foundation as opposed to those costs associated with generating funds or grant making and its assets and are primarily associated with constitutional and statutory requirements. Grants payable are payments made to third parties that have been agreed and paid by the Trustees in the furtherance of the charitable objectives of the Foundation.
10
The Wilson Foundation
Notes to the financial statements (continued)
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the Foundation to pay out resources and the obligation can be measured with reasonable certainty.
Provision for liabilities
Liabilities are measured at the best estimate of the amount required to settle the obligation at the Balance Sheet date.
Tangible fixed assets and depreciation
The land and buildings at Longtown were acquired in 2018/19 and have been included in the balance sheet at cost. Expenditure on the land and buildings is capitalised and added to the book value.
Depreciation is charged on the rope equipment on a straight-line basis over its estimated useful life of ten years from acquisition.
Fixed asset investments
Investments are shown at their mid-market value at the Balance Sheet date. The realised and unrealised gains on investments are reflected in the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase cost if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase cost if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.
Foreign exchange
Acquisitions and disposals of foreign exchange are reported at the prevailing exchange rate at the date of the relevant transaction. Closing foreign exchange balances are retranslated at the year end and any gain/ (loss) is reported in the Statement of Financial Activities.
Taxation
The Foundation is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
11
The Wilson Foundation
Notes to the financial statements (continued)
2 Investment income
| Interest from UK Investments Interest from Foreign Investments Dividends – UK investments Dividends – Foreign investments 3 Bank and other interest receivable Barclays Bank WAM 4 Allocation of support costs Cost of raising funds Governance £ £ Accounting services 23/24 - 7,200.00 Accounting services 22/23 Special Work - 1,200.00 Accounting services 19/20 (underprovision) - 480.00 Accounting services 19/20 (underprovision) - 120.00 Investment advisor’s fee 68,027.66 - Independent examiner - 960.00 Independent examiner (under provision) - - Legal fees - 516.00 Miscellaneous expenses - 471.80 68,027.66 10,947.80 |
Interest from UK Investments Interest from Foreign Investments Dividends – UK investments Dividends – Foreign investments 3 Bank and other interest receivable Barclays Bank WAM 4 Allocation of support costs Cost of raising funds Governance £ £ Accounting services 23/24 - 7,200.00 Accounting services 22/23 Special Work - 1,200.00 Accounting services 19/20 (underprovision) - 480.00 Accounting services 19/20 (underprovision) - 120.00 Investment advisor’s fee 68,027.66 - Independent examiner - 960.00 Independent examiner (under provision) - - Legal fees - 516.00 Miscellaneous expenses - 471.80 68,027.66 10,947.80 |
Y.E. 2024 £ 17,657.71 25,990.09 35,063.49 9,586.54 88,297.83 Y.E. 2024 £ 757.49 25,421.94 26,179.43 Total Y.E. 2024 £ 7,200.00 1,200.00 480.00 120.00 68,027.66 960.00 - 516.00 471.80 |
Y.E. 2023 £ 13,940.14 - 25,064.54 16,312.18 55,316.86 Y.E 2023 £ 219.13 16,630.86 16,849.99 Total Y.E 2023 £ 7,050.00 - - - 69,380.72 960.00 120.00 300.00 2,308.80 80,119.52 |
|
|---|---|---|---|---|
| 68,027.66 10,947.80 |
78,975.46 |
12
The Wilson Foundation
Notes to the financial statements (continued)
5 Grants payable
During the year the following grants were approved:
Grants payable to institutions
Total grants paid to institutions: 22 – total £151,667.97 (2023 19 – total £394,698.00)
| Total number of Name of institution grants paid in 2024 31st Northampton Boys Brigade Company 1 3rd Desborough (St Giles) Scout Group 1 Adventure Ways Circus Starr 1 Cottesbrooke RDA 1 Cransley Sailing Club 1 Cricket Society Trust Guilsborough Primary School Happy Days Children’s Charity 1 Holcot PCC Home Start Kettering Hotshots Basketball 1 Injured Jockeys Fund Jumpstart Kids Aid Foundation Kingsley Learning Foundation 1 Longtown Outdoor Learning Trust 1 Longtown Village Pride 1 NAYC 1 Northampton Basketball Club Northampton Music 365 1 Northampton Saints Foundation 1 Northampton School for Boys 1 Northamptonshire Basketball Association 1 Northamptonshire Community F’dation Northamptonshire County Cricket Club 1 Northgate School Arts College 1 Oakham School Foundation Oncore Dance Academy 1 Pacesetter Training CIC 1 Peterborough Diocese Education Trust 1 Swim England 1 The Princes Trust 1 Total grants to institutions |
Total grants Y.E. 2024 £ 770.00 1,750.00 - 400.00 1,000.00 800.00 - - 1,875.00 - - 6,000.00 - - - 2,000.00 56,094.97 495.00 10,000.00 - 5,000.00 30,000.00 3,500.00 1,200.00 - 768.00 1,215.00 - 2,300.00 8,500.00 7,500.00 500.00 10,000.00 151,667.97 |
Y.E. 2023 - - 2,000.00 420.00 - - 4,500.00 5,000.00 - 5,000.00 7,630.00 6,000.00 1,000.00 7,500.00 10,000.00 - 31,500.00 475.00 - 300.00 - 30,000.00 3,500.00 - 30,000.00 - - 232,123.00 - 7,750.00 - - 10,000.00 |
|---|---|---|
| 394,698.00 |
13
The Wilson Foundation
Notes to the financial statements (continued)
Grants payable to individuals
Total grants paid to individuals: 14 – total £5,014 (2023 10– total £14,660)
Name of individual
| 1stWelford Scout Group – 1 donation Daventry Hill School – 1 donation East Lodge Farm – 1 donation International Ballet School – 1 donation Kettering Buccleuch Academy – 1 donation Liberty Drums Corps– 1 donation Northampton District Scout Council – 2 donations Northampton School for Boys Music Department – 1 donation Northamptonshire Carers – 1 donation Northamptonshire County Scout Council – 2 donations PGL – 1 donation Rondo Travel – 1 donation Starlight Studios – 1 donation Thomas Ml – 1 donation Wilby Primary School – 3 donations Wellingborough District Scouts – 1 donation Total grants to individuals Grants to organisations Grants to individuals Grants written back Total Grants 5 April 2024 Reconciliation of grants Grants made in the period Grants offered but not paid/cleared b/f Pledges not yet paid Less: grants paid in the year Grants offered but not paid/cleared at 5 April 2024 |
Grants Y.E. 2024 £ - 70.00 750.00 500.00 - - 650.00 300.00 - 1,200.00 - 132.00 312.00 - 750.00 350.00 5,014.00 151,667.97 5,014.00 - 156,681.97 Y.E. 2024 £ 156,681.97 6,740.00 - (156,599.97) 6,822.00 |
Grants Y.E 2023 £ 1,000.00 534.00 - - 326.00 400.00 - - 250.00 - 500.00 - - 10,000.00 250.00 1,400.00 |
|||
|---|---|---|---|---|---|
| 14,660.00 | |||||
| 394,698.00 14,660.00 (296.30) 409,061.70 Y.E. 2023 £ 409,358.00 17,352.00 - (419,970.00) 6,740.00 |
|||||
14
The Wilson Foundation
Notes to the financial statements (continued)
| Grants offered but not paid /cleared 3rd Desborough (St Giles) Scout Group Cransley Sailing Club East Lodge Farm – individual England Waterpolo Hotshots Basketball International Ballet School – individual NMPAT – Ewan Lynn Northamptonshire Basketball Association Northamptonshire County Scout Council Rondo Travel – 1 individual Wilby CE(VA) Primary School – individual Grants offered but not paid/cleared at 5 April 2024 |
Y.E. 2024 £ 1,750.00 800.00 750.00 500.00 - 500.00 240.00 1,200.00 700.00 132.00 250.00 6,822.00 |
Y.E. 2023 £ - - - 500.00 6,000.00 - 240.00 - - - - |
|---|---|---|
| 6,740.00 |
6 Trustees and other related parties
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or in kind.
No Monetary value has been assigned to this donated time in the accounts in line with the Charities SoRP (FRS 102).
Trustees do not charge any expenses incurred.
There were no related party transactions during the year.
15
The Wilson Foundation
Notes to the financial statements (continued)
| 7 Investments Investments at market value at 5 April 2023 Acquisitions at cost Market value at 5 April 2023 of investments sold in the year Revaluations Investments at market value at 5 April 2024 Proceeds of investments sold in the year Market value at 5 April 2023 of investments sold in the year Profit/(loss) on sale of investments Net gains/(losses) on investment Realised profit/(loss) on sale Revaluations Investments at 5 April 2024 comprised: UK investments Overseas investments |
£ 5,832,657.13 153,662.25 (576,311.20) 640,135.59 |
|---|---|
| 6,050,143.77 | |
| 588,607.91 (576,311.20) |
|
| 12,296.71 | |
| 12,296.71 640,135.59 |
|
| 652,432.30 | |
| 5,042,984.23 1,007,159.54 6,050,143.77 |
The trust held sixteen shareholdings at 5 April 2024. Ten of these are material, in that they represent more than 5% of the total market value of the Foundation’s holdings. These are all held within the Investment portfolio.
16
The Wilson Foundation
Notes to the financial statements (continued)
8 Northampton County Cricket Club ordinary shares
The Trustees of the Wilson Foundation advanced a loan of £100,000 to the Northamptonshire County Cricket Club during the year ended 5 April 2016.
The loan was converted into 400 ordinary shares in Northamptonshire County Cricket Club. Which are held as an investment asset. The value of these shares when converted in the year ended 5 April 2019 was £97,000.00 and have subsequently been valued at £100,000 at 5 April 2024.
9 Cash at bank and in hand
| Cash held for investment WAM Capital - GBP WAM Capital – US$ Multrees Dealing a/c Multrees Dealing US$ a/c Cash at bank Barclays current account Barclays reserve account WAM Income – GBP editors: amounts falling due within one year KPMG LLP 23/24 (CIO) KPMG LLP 22/23 (CIO) KPMG LLP 21/22 (CIO) KPMG LLP 21/20 (CIO) KPMG LLP 20/21 (Foundation) S D Knee Ltd 23/24 S D Knee Ltd 22/23 Whitley Asset Management Grants offered but not paid Cheques drawn but not cleared: S D Knee Ltd 20/21 Longtown Zip Wire repairs |
2024 £ 849,668.69 692.00 - - 850,360.69 6,045.09 70,023.11 14,162.94 90,231.14 2024 £ 7,200.00 7,050.00 - - - 960.00 960.00 14,648.20 6,822.00 - - 37,640.20 |
2023 £ 601,593.54 677.58 - - |
|
|---|---|---|---|
| 602,271.12 | |||
| 7,061.49 105,144.74 6,283.81 118,490.04 2023 £ - 7,050.00 6,600.00 6,600.00 2,520.00 960.00 960.00 14,414.99 6,740.00 960.00 2,709.60 49,514.59 |
10 Creditors: amounts falling due within one year
17
The Wilson Foundation
Notes to the financial statements (continued)
11 Tangible Fixed assets: Longtown: Outdoor Learning Trust
In 2018/19 the Wilson Foundation purchased Longtown Outdoor Education Centre from Northamptonshire County Council.
We have accounted for the acquisition and refurbishment of Longtown as an asset at cost. The purchase of the Outdoor Education Centre, is within the Foundation’s remit to assist young people within Northamptonshire.
| COST At 5 April 2023 Additions At 5 April 2024 DEPRECIATION At 5 April 2023 Charge for period At 5 April 2024 NET BOOK VALUE At 5 April 2023 |
Longtown Outdoor Education Centre 2024 £ 1,204,722.11 81,857.55 1,286,579.66 - - - 1,286,579.66 1,204,722.11 |
High Ropes Course 2024 £ 78,424.98 - 78,424.98 31,369.96 7,842.49 39,212.45 39,212.53 47,055.02 |
Total 2024 £ 1,283,147.09 81,857.55 |
|---|---|---|---|
| 1,365,004.64 | |||
| 31,369.96 7,842.49 |
|||
| 39,212.45 | |||
| 1,325,792.19 | |||
| 1,251,777.13 |
During the year the Trustee’s incurred the following running expenses in respect of Longtown Outdoor Education Centre:
| Climbing wall maintenance Environment Agency – water abstraction Insurance Zipwire repairs |
2024 £ - 194.00 - - 194.00 |
2023 £ 17,292.00 - 3,830.17 2,709.60 23,831.77 |
|---|---|---|
18
The Wilson Foundation
Appendix 1 - Listed Invetsments - Charity Workings
Year ended 5th April 2024
| Holding | Market Value | Additions | Disposals | Profit | Unrealised | **Holding ** | Restated Cost | Market Value | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 06/04/2023 | 06/04/2023 | Date | Quantity | Cost | Date | Quantity | Proceeds | (Loss) | profit | 05/04/2024 | 05/04/2024 | 05/04/2024 |
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Brown Advisory Funds | ||||||||||||
| US Sustainable Growth B GBP Dis | ||||||||||||
| 14,444.77390 | 339,741.08 | 102,846.79 | 14,444.77390 | 339,741.08 | 442,587.87 | |||||||
| Candoris Icav | ||||||||||||
| Coho Esg Us Lrg Cap Equity Instl Usd Acc | ||||||||||||
| 1,056.87500 | 151,380.44 | 30/06/2023 | 1,037.25 | 5,154.61 | 1,056.87500 | 152,417.69 | 157,572.30 | |||||
| Carne Global Fund Managers(Lux) Sa | ||||||||||||
| Edgewood L Sel US Sel Gth I USD Z Dis | ||||||||||||
| 2,133.55100 | 324,393.84 | 105,191.35 | 2,133.55100 | 324,393.84 | 429,585.19 | |||||||
| CG Portfolio Fund | ||||||||||||
| Absolute Return class M shares | ||||||||||||
| 1,185.37000 | 159,965.68 | (414.88) | 1,185.37000 | 159,965.68 | 159,550.80 | |||||||
| Eskmuir FM Ltd | ||||||||||||
| Diversified Property FR Charits Prop UK | ||||||||||||
| 125,699 | 187,291.51 | 17/04/2023 | 112,973 |
152,625.00 | (19,093.61) | 238,672 | 339,916.51 | 320,822.90 | ||||
| Fundsmith Llp | ||||||||||||
| Equity I Inc Nav 132,141.96 |
748,029.21 | 91,230.81 | 132,141.96 | 748,029.21 | 839,260.02 | |||||||
| Guardcap Ucits Funds Plc | ||||||||||||
| Global Equity I GBP Dis 27,500.18000 |
413,877.71 | 23,375.15 | 27,500.18000 | 413,877.71 | 437,252.86 | |||||||
| Harrington Cooper Ucits Funds Icav | ||||||||||||
| Hc Snyder US All Cap Equity F GBP Dis | ||||||||||||
| 1,636.67000 | 153,094.11 | 44,451.96 | 1,636.67000 | 153,094.11 | 197,546.07 | |||||||
| Heptagon Fund Icav | ||||||||||||
| Wcm Global Equity Cgd GBP Dis | ||||||||||||
| 1,903.26300 | 338,419.19 | 94,891.37 | 1,903.26300 | 338,419.19 | 433,310.56 | |||||||
| Heriot Investment Funds | ||||||||||||
| Heriot Global Fund B Dis 68,501.365 |
162,348.24 | 31/07/2023 | 210.24 | 23,329.45 | 68,501.365 | 162,138.00 | 185,467.45 | |||||
| Ifsl Evenlode Investment Funds Icvc | ||||||||||||
| Ifsl Evenlode Global Income F GBP Dis | ||||||||||||
| Changed from T Bailey Fund Services Ltd Evenlode Global | Income F GBP Dis on 02/10/2023 | |||||||||||
| Changed from Ws Evenlode Investment Funds Icvc Ws Evenlode Global Income F GBP Dis on 09/03/2024 | ||||||||||||
| 613,770.07 | 9,708.51 | 613,770.07 | 623,478.58 | |||||||||
| 418,470.08500 | 418,470.08500 | |||||||||||
| Magna Umbrella Fund | ||||||||||||
| Fiera Atlas Global Companies I GBP Dis | ||||||||||||
| 34,703 | 370,628.04 | 39,766.17 | 34,703 | 370,628.04 | 410,394.21 | |||||||
| Polen Capital Investment Funds Plc | ||||||||||||
| Focus US Growth Instl USD | ||||||||||||
| 12,387.71000 | 339,547.13 | 80,454.92 | 12,387.71000 | 339,547.13 | 420,002.05 |
Page 1
The Wilson Foundation
Appendix 1 - Listed Invetsments - Charity Workings
Year ended 5th April 2024
| Holding | Market Value | Additions | Disposals | Profit | Unrealised | **Holding ** | Restated Cost | Market Value | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 06/04/2023 | 06/04/2023 | Date | Quantity | Cost | Date | Quantity | Proceeds | (Loss) | profit | 05/04/2024 | 05/04/2024 | 05/04/2024 |
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Rathbone Unit Trust Management | ||||||||||||
| Ethical Bond I Dis 192,161 |
157,572.02 | 6,802.50 | 192,161 | 157,572.02 | 164,374.52 | |||||||
| Royal London Bond Funds Icvc | ||||||||||||
| Royal London Short Term Fixed Inc Z Dis | ||||||||||||
| 160,041.36 | 17,274.03 | 160,041.36 | 177,315.39 | |||||||||
| 173,958.00000 | 173,958.00000 | |||||||||||
| United Kingdom(Government Of) | ||||||||||||
| 0.75% Gilt Bds 22/07/2023 GBP100 | ||||||||||||
| 252,635.54 | 250,210.24 | 27/07/2023 | 252,635.54 | 252,635.54 | 2,425.30 | |||||||
| United Kingdom(Government Of) | ||||||||||||
| 0.125% Bds 31/01/2024 GBP1000 | ||||||||||||
| 335,762.13 | 325,890.72 | 31/01/2024 | 335,762.13 | 335,762.13 | 9,871.41 | |||||||
| Vontobel Fund Management | ||||||||||||
| Twentyfour Abst Return Credit AQC GBP | ||||||||||||
| 6,681.257 | 636,456.54 | 15,166.46 | 6,681.257 | 636,456.54 | 651,623.00 | |||||||
| TOTAL: | 5,832,657.13 | 153,662.25 | 588,607.91 | 12,296.71 | 640,135.59 | 5,410,008.18 | 6,050,143.77 |
Page 2