**REGISTERED CHARITY NUMBER: 1190192** 

## **REPORT OF THE TRUSTEES AND** 

## **UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

## **FOR** 

## **THE WEST FOUNDATION** 

BCO Accountants LLP 34 Middle Street South Driffield East Yorkshire YO25 6PS 



**THE WEST FOUNDATION** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Statement of Financial Activities**||3||
|**Balance Sheet**||4||
|**Notes to the Financial Statements**|5|to|8|
|**Detailed Statement of Financial Activities**||9||





**THE WEST FOUNDATION** 

**REPORT OF THE TRUSTEES FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

The trustees present their report with the financial statements of the charity for the period 31 December 2022 to 31 December 2023. The trustees have adopted the provisions of 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). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The objects of the CIO are: 

(a) the advancement of education for the public benefit; 

(b) the relief of poverty for the public benefit; 

(c) the relief of sick, ill and disabled people and the preservation of health for the public benefit; and 

(d) such other purposes being exclusively charitable according to both the law of England and Wales and the law of Scotland as the Trustees may from time to time determine. 

## **Public benefit** 

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due  regard to the Charity Commission's general guidance on public benefit, Charities and Public Benefit. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Fundraising activities** 

During the period the charity received £2,301 of investment income. 

## **Investment performance** 

During the period the investments decreased in value by £32,506. 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

Unrestricted funds are being built up to enable the charity to fulfill its charitable objectives. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is a charitable incorporated organisation (CIO) which is controlled by its governing document adopted  on 30 June 2020. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1190192 

## **Principal address** 

Hotham Services Limited Manor Farm Main Street Hotham Yorkshire YO43 4UD 

## **Trustees** 

M S Healey Mrs A M Healey Miss J M Oldfield Mrs C M Maurice 

Page 1 



**THE WEST FOUNDATION** 

**REPORT OF THE TRUSTEES FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

Approved by order of the board of trustees on 24 September 2024 and signed on its behalf by: 

Miss J M Oldfield - Trustee 

Page 2 



## **THE WEST FOUNDATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

|||Period||
|---|---|---|---|
|||31/12/22||
|||to|Year ended|
|||31/12/23|30/12/22|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Investment income|2|2,301|343|
|**EXPENDITURE ON**||||
|Other||600|600|
|Net gains/(losses) on investments||(32,506)|3,414|
|**NET INCOME/(EXPENDITURE)**||(30,805)|3,157|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||88,670|85,513|
|**TOTAL FUNDS CARRIED FORWARD**||57,865|88,670|



The notes form part of these financial statements 

Page 3 



## **THE WEST FOUNDATION** 

## **BALANCE SHEET 31 DECEMBER 2023** 

|2023<br>Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Investments<br>5<br>57,021<br>**CURRENT ASSETS**<br>Debtors<br>6<br>-<br>Cash at bank<br>2,644<br>2,644<br>**CREDITORS**<br>Amounts falling due within one year<br>7<br>(1,800)<br>**NET CURRENT ASSETS**<br>844<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>57,865<br>**NET ASSETS**<br>57,865<br>**FUNDS**<br>8<br>Unrestricted funds<br>57,865<br>**TOTAL FUNDS**<br>57,865|2022<br>Total<br>funds<br>£<br>89,527<br>343<br>-<br>343<br>(1,200)<br>(857)<br>88,670<br>88,670<br>88,670<br>88,670|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 24 September 2024 and were signed on its behalf by: 

J M Oldfield - Trustee 

The notes form part of these financial statements 

Page 4 



**THE WEST FOUNDATION** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared  in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing  the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2. INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||
|---|---|---|
||Period||
||31/12/22||
||to|Year ended|
||31/12/23|30/12/22|
||£|£|
|Investment distributions|2,283|595|
|Investment managers fees|-|(252)|
|Interest|18|-|
||2,301|343|



Page 5 

continued... 



**THE WEST FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the period ended 31 December 2023 nor for the year ended 30 December 2022. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the period ended 31 December 2023 nor for the year ended 30 December 2022. 

|**4.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||**INCOME AND ENDOWMENTS FROM**||
||Investment income|343|
||**EXPENDITURE ON**||
||Other|600|
||Net gains on investments|3,414|
||**NET INCOME**|3,157|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|85,513|
||**TOTAL FUNDS CARRIED FORWARD**|88,670|
|**5.**|**FIXED ASSET INVESTMENTS**||
|||Listed|
|||investments|
|||£|
||**MARKET VALUE**||
||At 31 December 2022|89,527|
||Revaluations|(32,506)|
||At 31 December 2023|57,021|
||**NET BOOK VALUE**||
||At 31 December 2023|57,021|
||At 30 December 2022|89,527|
||There were no investment assets outside the UK.||



Page 6 

continued... 



**THE WEST FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

## **5. FIXED ASSET INVESTMENTS - continued** 

Cost or valuation at 31 December 2023 is represented by: 

|||||||Listed|
|---|---|---|---|---|---|---|
|||||||investments|
|||||||£|
||Valuation in 2023|||||57,021|
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||
|||||2023||2022|
|||||£||£|
||Other debtors||||-|343|
|**7.**|**CREDITORS: AMOUNTS FALLING**|**DUE WITHIN ONE YEAR**|||||
|||||2023||2022|
|||||£||£|
||Other creditors|||1,800||1,200|
|**8.**|**MOVEMENT IN FUNDS**||||||
|||||Net|||
||||At|movement||At|
||||31/12/22|in funds||31/12/23|
||||£|£||£|
||**Unrestricted funds**||||||
||General fund||88,670|(30,805)||57,865|
||**TOTAL FUNDS**||88,670|(30,805)||57,865|
||Net movement in funds, included in the above are as follows:||||||
|||Incoming|Resources|Gains and||Movement|
|||resources|expended|losses||in funds|
|||£|£|£||£|
||**Unrestricted funds**||||||
||General fund|2,301|(600)|(32,506)||(30,805)|
||**TOTAL FUNDS**|2,301|(600)|(32,506)||(30,805)|



Page 7 

continued... 



**THE WEST FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

## **8. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|||||Net||
|---|---|---|---|---|---|
||||At|movement|At|
||||31/12/21|in funds|30/12/22|
||||£|£|£|
|**Unrestricted funds**||||||
|General fund|||85,513|3,157|88,670|
|**TOTAL FUNDS**|||85,513|3,157|88,670|
|Comparative net movement in funds, included in the above are as follows:||||||
||Incoming|Resources||Gains and|Movement|
||resources||expended|losses|in funds|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|343||(600)|3,414|3,157|
|**TOTAL FUNDS**|343||(600)|3,414|3,157|



## **9. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the period ended 31 December 2023. 

Page 8 



## **THE WEST FOUNDATION** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 31 DECEMBER 2022 TO 31 DECEMBER 2023** 

||Period|||
|---|---|---|---|
||31/12/22|||
||to|Year en|ded|
||31/12/23|30/12/22||
||£|£||
|**INCOME AND ENDOWMENTS**||||
|**Investment income**||||
|Investment distributions|2,283|595||
|Investment managers fees|-|(252)||
|Interest|18|-||
||2,301|343||
|**Total incoming resources**|2,301|343||
|**EXPENDITURE**||||
|**Support costs**||||
|**Governance costs**||||
|Accountancy fees|600|600||
|Total resources expended|600|600||
|**Net income/(expenditure) before gains and**||||
|**losses**|1,701|(257)||
|**Gains and losses**||||
|Gains/(losses) on investments|(32,506)|3,414||
|**Net (expenditure)/income**|(30,805)|3,157||



This page does not form part of the statutory financial statements 

Page 9