REGISTERED CHARITY NUMBER: 1191913
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
GEOFF WICKENS EGERTON SPORTS TRUST
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
GEOFF WICKENS EGERTON SPORTS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 11
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GEOFF WICKENS EGERTON SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2024.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Theobjectsofthetrustarethepromotionofamateursportandthepromotionofcommunityparticipation in
healthyrecreationinandaroundEgerton,Kentinparticularbutnotexclusivelybythe provision,
maintenance and improvement of facilities for amateur sport and healthy recreation.
Public benefit
ThetrusteeshavecompliedwiththeirdutyintheCharitiesActtohavedueregardtoguidelinesissuedby the
Charity Commission on public benefit.
Grantmaking
The charity will agree to making a grant to local organisations whose aims also meet its objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Thecharitywasestablishedtogiveeffecttotheprovisionscontainedwithinthewillofthelate Geoffrey
Charles Wickens dated 16 October 1996, who passed away on 15 March 2018.
Itwasdecidedthatthefundsbeinvestedforcapitalappreciationwithaninvestmentmanagement company,
see further details in the financial review below.
Ourprimeobjectiveistoprovidefundingtoothercharitiesornon-profitmakingorganisations with
donationsorgrantsforthepromotionofamateursportintheEgertonarea.Thetrusteesarepleasedto have
beenabletosupportotherlocalcharitiesandnotforprofitorganisationsduringtheyearbymaking grants
totalling £1,895 to three organisations.
Investment performance
Investmentperformancehasbeenachievedagainsttheobjectivessetforthisperiod.Detailsofreturn on
investments can be found in the Statement of Financial Activities.
FINANCIAL REVIEW
Investment policy and objectives
Theboard'spolicyistoinvestintheinvestmentportfoliotoprovidetheresourcesnecessaryforthe charity
to meet its objectives.
The Board has resolved to retain Messrs Rathbones to advise and handle its investment funds.
Reserves policy
Thecharityhasunrestrictedgeneralreservesof£1,135,587atthebalancesheetdate.Asdetailedaboveit is
thecharity'sstrategytobuildreserves(incashandreadilyrealisableinvestments)tosupportthe community
with providing donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,thewillofGeoffWickens,provedon15March2018. This
was amended by a change in deed dated 18 December 2019.
Page 1
GEOFF WICKENS EGERTON SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1191913
Principal address
Parrsmere
Chapel Lane
Egerton
Ashford
Kent
TN27 9BX
Trustees
J A Hopkins
M G Gould
J A Hopkins
N P Gould
Independent Examiner
David Ashby FCCA ACA
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
Approved by order of the board of trustees on 27 January 2025 and signed on its behalf by:
J A Hopkins - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
GEOFF WICKENS EGERTON SPORTS TRUST
Independent examiner's report to the trustees of Geoff Wickens Egerton Sports Trust
IreporttothecharitytrusteesonmyexaminationoftheaccountsofGeoffWickensEgertonSports Trust
(the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
Section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
David Ashby FCCA ACA
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
28 January 2025
Page 3
GEOFF WICKENS EGERTON SPORTS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Notes
INCOME AND ENDOWMENTS FROM
Investment income
2
EXPENDITURE ON
Raising funds
3
Charitable activities
4
Grants
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2024
Unrestricted
fund
£
26,369
9,655
1,895
1,620
13,170
54,080
67,279
1,068,308
1,135,587 |
2023
Total
funds
£
26,667
9,682
41,187
1,514
52,383
(84,731)
(110,447)
1,178,755
1,068,308 |
|
|
|
The notes form part of these financial statements
Page 4
GEOFF WICKENS EGERTON SPORTS TRUST
STATEMENT OF FINANCIAL POSITION 31 MARCH 2024
Notes
FIXED ASSETS
Investments
9
CURRENT ASSETS
Debtors
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
TOTAL FUNDS |
2024
Unrestricted
fund
£
1,060,230
534
76,383
76,917
(1,560)
75,357
1,135,587
1,135,587
1,135,587
1,135,587 |
2023
Total
funds
£
1,037,861
-
31,887
31,887
(1,440)
30,447
1,068,308
1,068,308
1,068,308
1,068,308 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
27 January 2025 and were signed on its behalf by:
J A Hopkins - Trustee
The notes form part of these financial statements
Page 5
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshave been
preparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincluded at
market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesona straight
line basis over the period of the lease.
Investments
Listedinvestmentsareincludedatmarketvalueattheyearend.Gainsandlossesondisposal of
investments are charged or credited to the Statement of Financial Activities.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytrade discount
offered.
Creditors
Creditorsarerecognisedwherethecharityhasapresentobligationresultingfromapastevent that
willprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation
canbemeasuredorestimatedreliably.Creditorsarenormallyrecognisedattheirsettlement amount
after allowing for any trade discounts due.
continued...
Page 6
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2.
INVESTMENT INCOME
Income from investments
Deposit account interest
3.
RAISING FUNDS
Investment management costs
Portfolio management
4.
CHARITABLE ACTIVITIES COSTS
Grants
5.
GRANTS PAYABLE
Grants
The total grants paid to institutions during the year was as
follows:
Egerton Cricket Club
Egerton Football Club
Egerton Parish Council
Egerton Playing Fields Committee
Egerton Running and Cycling Club |
2024
2023
£
£
24,953
26,369
1,416
298
26,369
26,667
2024
2023
£
£
9,655
9,682
Grant
funding of
activities
(see note
5)
£
1,895
2024
2023
£
£
1,895
41,187
2024
2023
£
£
250
4,108
-
2,385
-
25,000
1,000
9,694
645
-
1,895
41,187 |
|
|
|
|
|
|
continued...
Page 7
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
Governance |
|
|
Finance |
costs |
Totals |
|
£ |
£ |
£ |
Other resources expended |
60 |
1,560 |
1,620 |
Support costs, included in the above, are as follows: |
|
|
|
Finance |
|
|
|
|
|
2024 |
2023 |
|
|
Other |
|
|
|
resources |
Total |
|
|
expended |
activities |
|
|
£ |
£ |
Bank charges |
|
60 |
74 |
Governance costs |
|
|
|
|
|
2024 |
2023 |
|
|
Other |
|
|
|
resources |
Total |
|
|
expended |
activities |
|
|
£ |
£ |
Independent examination fees |
|
950 |
900 |
Accountancy fees |
|
610 |
540 |
|
|
1,560 |
1,440 |
7. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norfor the
year ended 31 March 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended
31 March 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Investment income
EXPENDITURE ON
Raising funds
Charitable activities
Grants
Other |
Unrestricted
fund
£
26,667
9,682
41,187
1,514 |
|
|
continued...
Page 8
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
9.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
Investment assets are represented by:
UK investments
Overseas investments
Historical cost of investments |
|
|
Unrestricted
fund
£
52,383
(84,731)
(110,447)
1,178,755
1,068,308
Listed
investments
£
1,037,861
106,311
(159,806)
75,864
1,060,230
1,060,230
1,037,861
2023
£
568,428
469,433
1,037,861
2023
£
1,109,428 |
|
2024 |
|
|
|
£ |
|
|
|
586,144 |
|
|
|
474,086 |
|
|
|
|
|
|
|
|
|
|
|
1,060,230 |
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
£ |
|
|
|
1,055,933 |
|
|
|
|
|
|
|
|
|
|
continued...
Page 9
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Trade debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
12.
MOVEMENT IN FUNDS
At 1/4/23
£
Unrestricted funds
General fund
1,068,308
TOTAL FUNDS
1,068,308
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
26,369
(13,170)
TOTAL FUNDS
26,369
(13,170)
Comparatives for movement in funds
At 1/4/22
£
Unrestricted funds
General fund
1,178,755
TOTAL FUNDS
1,178,755 |
|
|
|
|
|
|
|
|
continued...
Page 10
GEOFF WICKENS EGERTON SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
12. MOVEMENT IN FUNDS - continued
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 |
26,667 |
(52,383) |
(84,731) |
(110,447) |
TOTAL FUNDS |
26,667 |
(52,383) |
(84,731) |
(110,447) |
13. RELATED PARTY DISCLOSURES
ThetrusteeJAHopkins,isPresidentofEgertonCricketClubandParishCouncillorforEgerton.In the
period, the charity has made the following donation::
Egerton Cricket Club - £250
Page 11