The Seastock Charitable Trust Trustees, Report and Financial Statements for the year ended 5 April 20Z3 Charity number: 1193178
The Seastock Charftable Trust Contents Page Report Df the Trustees Independent Examiner'5 Report Statement of Financial Activities Balance Sheet Notes to the accounts 7-10
The Seastock CharRtable Trnst Report of the Trustees For the year ended 5 Aprll 2023 The trustees presenttheirreport and financial statements ofthe charity for the year ended 5 April 2023, which have been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Cliarities.. Statement of Recommended Practice 2019 applicable to charitie5 preparingtheiraccounts in accoi-dance with the Financial Reportingstandard applicable in the UK and Republic of Ireland (FRS 102) (effective I january 2019J. Reference and Administrative detalls of the Charity Name The Seastock Charitable Trust Charity Number 1193178 Trustses Arthur Davies Kathrine Davies Principal Office Ringbeck Cottage Ringbeck Road Kirby Malzeard Ripon North Yorkshire HG4 3QF Chartered Aceountants Saffery LLP Mitre House North ParkRoad Harrogate HGI 5RX
The Seastock Charitable Tntst Report of the Trustees For the ear ended 5 A ril 2023 Structurej governance and management The charity is guverned by a Trust Deed (date 6 March 2020). The Trustees who have served during the year and since the year end are set out on page l. According to ihe Trust Deed the total nurmber ol trustees must not exceed five at anytime. No Trustees received remunerdtion during tlie current or previous year. There are no staff employed by the charity. Trustees are appointed by resolution of the Trustees passed at a special meeting called under clause 8 of this Deed. Objectives and activlties Trustees are required to distribute the income in accordance with the aims ststed in the trust deed. The trust deed requires the trustees to'apply the income and, all or such parts of the capital at such time or times and in such manner to, or for the benefit of, the objects as the Trustees may in their discretion think fit" The objectives of the charity are to advance such charitable purposes for the public benefit [according to the laws of England and Wales) as the Trustees see fit froTn time to time. Main artivities The main activities olthe trust are that of making granrs thi'oughout England & Wales. This year grants and donations totalling £24,950 (2022: £12,750) have been made. Public Benefit The Trustees have considered and complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit U7uidance published by the Charity Commission. In order to measure public benefit, the trustees will review the number of applications For grants and donations and consider them in relation to the Charity's ubjectives. Grnnt making policy The Charity considers applications from grants which will benefit the public. The trustees meet regularly to review, consider and monitor applications. Achieven)ents and Performance The trustees grdllted £24.950 towards Lharitable purposes within the year. Financial Review The totsl incoming resources ol the Charity for ihe year was £45,940 (2022: £165,719). The balance of unrestricted funds at 5 April 2023 was £169.865 [2022= £153,069). Reserves Policy It is the policy of the Trust that the Trustees shall have powers to establish funds lor particular purposes or to maintain reserves. There is no specific requirement for a certain level OFresees. The current level oFfree reserves is at £57.112 (2022- £40,316]. A commitment has been made to pay a total of £25,000 in donations over five years, with the first payment due in May 2023, however this is expected to be lunded from annual and current cash flow to the Charity, rather than from reserves.
The Sea5t(k Charltable Trust Reportof theTrusrees For the earended 5A rll2023 Plans for tre and postbalaDce sheet events The charfjty plans to continue to makegrdnts to approprlaTr charittes and good causes. Fundrnlslng activltles The charlty does not seek to fundraise externally and does not run any external fundraising campaigns or publidty. Statettkent of Trustees, responslbilities The trustees are responsible for preparing the trustee5' report and the financlal statements in accordan wlth applleable law and United Klngdom Accounting St3ndards [United Kingdom GenerallyAccepted Accounting Practice). The law appllcdble to charities In England & Wales require5 the trustees to prepare financial statements for each financial year which give a true and tair view of the state of affrdirs of the charlty and of the incoming resources and application of resources of the eharity for that period, In preparing these financial statements. the trustees are requlred to: selectsuitable a¢countlngpollcEes and then apply them con5iStentlyJ observe the methods and principles in the Charities SORP {FRS102): make ludgements and estimates that are reasonable and prndent state whether. applicable accounting standards have been followed, subjert to any material departures dlsclosed and explained in the financial ststements.. and prepare the tlnancRal ststements on the going concern basts unless it 15 inappropriate to presur(te that the charity continue in buslness. The trnsteesareresponsible forkeeping proper accountingrecords thatdisclose with reasonable acalracy at any thne the financial positlon of the charity and enable theLn to ensure that the flnanaal statements comply with the Charities Att 2011 and appllcable accounting regulatlons and the provtslons of the trust deed. Théy are a150 responsible for safeguardingthe assets ofthe charity and hence for taklng reasoii able steps for the prevention and detection oEfraud and other irregularltles. Approved on behalf ofthe tntstees br. ArthurDa Kathrlne Davles
The Seastock Charitable Trust Independent examlner's report to the trustees olThe Seastock Charitable Trust For the earended 5 A rll 2023 I report to the cliaritytrustees on myexamination of the accounts olThe Se25tock CharitableTrust (the charity) lor the year ended 5 April 2023. Respectfive responslbilities of trustees and examlner As the trustees of the charity, you are responsible for the prep3rdtion of the accounts in accordance with the requirements of the Charities Act 2011 (the Act'}. I report in respect of my examination of your charity's accounts carried out under section 145 of the 2011Actand in carrying out my examination I have followed all the applicable Direction.$ given by the Charity Commission under section 145[5)(bJ of the 2011 Act. Basis of independent examlner'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 explanation5 Irom 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 examinerfs statement I have completed my examination. I conFirm that llo matters have come to rny attention in connection with the examination giving me cause to believe that in any material respect: l. Accounting records were not kept in respect of the Trust as required by section 130 of the Act- or 2. The accounts. do not aLLurd with those record5,' 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. 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 undeTStanding of the accounts to be reached, Signed.. Alison Robin50n ICAEW Saffery LLP itre House, North Park Road Harrogate HGI 5RX 29 January 2024
The Seastock Charltable Trust Statement of Financial Activities For the ear ended 5 A ri12023 Note 2023 UnrestrStted 2022 Unrestricted Income from: Donations and legacies Investments 13,707 133,153 32,233 32,566 Total income 45,940 165,719 Re50urces expended Charttable activities 29,144 18,150 Total expenditure 29,144 18,150 Net income 16,796 147,569 Unrestricted funds brought fonvard 153,069 5,500 Unrestricted funds carried forward 169,865 153,069
The Seastock Charitable Trnst Balance Sheet Forthe ar ended S A ri12023 Note Z023 2022 Flxed assets Investments 112.753 112.753 112.7S3 112,753 Current assets Cash at bank and in hand 60,472 45,716 60,472 45.716 Creditors: amounts falling due withln the year Accrual forpn)fessiunaL fees 3.360 5,400 Net currentassets 57,112 40.316 Totsi assets liabAlitles 169,865 153,069 Represented by. The Funds of the cbarity Unrestricted funds li 169,865 169.865 153.069 153,069 For the financial year ended 5 April 2023, the charity was entitled to exemption from audit The trustee5 have not requlred the chartty to Ob1n an audit of its financial thtements for the year In question. The notes on pages 7 to 10 form partofthese accounts. Approved bythe trustees on.. 2024 and signedon thelr behalfby: r Davies Kathrine Davies Trllstees
The Seastock Charitable Trust Notes to the accounts For the ear ended S A ri12023 l. Accountlng Policies a) Basis of accounting The fiiiancial slatements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recomtnended Practice applicable to charities preparing their accounts in accordance with the Charities SORP (FRS 102) (effective I January 2019). The accounts covertheyear from the 6 April 2022 to the 5 April 2023. The Seastock Charitable Trust meets the definition OF a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise ststed in the relevant account policy notes. The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. b) Going Concern The financial statements are drawn up on the going concern basis which assumes the Charity will continue in operational existence for the foreseeable future. The charity relies ork the regular donations from its Trustees. During this financial year, the donations occurred monthly forthe first3 Tnonths until June 2023. It has been deen]ed that this was sufficient for presenL The Trustees monitor the Charity's cash flow which would forerast the Charity will be able to maintain liquidity for a period of at least one year following the date of signing these financial Statements and sustain its operational existence during the next 12 months and accordlngly, the Charity accounts are appropriately prepared under a going concern basis. c) Income and endowmonts Income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income can be measured reliably. d) Donations and legacie5 Donations received are considered for any restrietions. At the year end all donations were unrestricted therefore all funds are unrestricted. e) Investment income Dividends are reLognised once the dividend has been declared and notification has been received of the dividend due. fj Expenditure Expenditure is included in the accounts on an accruals basis. g} Governance eosts Governance costs relate to the cost of professional fees for accountancy. These have been allocated to charitable aetivities.
The Seastod£ Charltyable Trust Notes to the accounts For the earended 5 A ril 20Z3 h] Charitable activities Costs of charitable activities include grants and donations made, governance costs and support costs. i) Taxation The charity is a registered charity and accordingly is exempt from taxation on 5ts income and gains where they are applied for charitable purposes. j) Investments Investments are stated ai the net asset value of shares less impairmenL Unrealised gains and losses on investments are recognised on the Statement of Financial Activities. k) Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. l) Fund structure Unrestrirted income fund5 are generdl funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. 2. Critical accounting judgements and key sources of estimatlon uncertainty In the application of the Charity's accountinu policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of a55ets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undLrlying assulnptions are revieivod on an ongoing basis. ReiTlfian5 to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. The value of investments has been deemed a key accounting estimate by the Trustevs. The investments were donated by the Trustees therefore there is no cosL The unquoted shares are not publicly traded therefore where there is no readily ascertainable market value, the investments are measured at the net asset value of the shares using the latest publicly available financial informarion.
The Seastock Charltable Trnst Notes to the accounts For the year ended 5 Aprll 2023 Jncome from donatlons and legacies 2023 2022 Donations received from trustees 13,707 13,707 133.153 133,153 4 Income from Investments 2023 2022 Dividends from investsnents 32,233 32,233 32,566 32,566 5 Charltable Activities and Adminlstration 2023 2022 Grdnts and donations made (note 8] Governance costs 24.950 4.194 29,144 12,750 5,400 18,150 The governance costs include £3,360 relating to the independent examination 6 Trustees remuneration No trustees received any remuneration or exTrenses in the LLtrrent or prior period. 7 Related party transaction5 During the current and prior period there were no related party transactions. Grants and donations Tlie following are grants to institutions. There are no related support costs. 2023 20Z2 Religious rduses Conservation Education and childrens, charities Mental healtli Military charity Humanitarian aid 9.750 3,000 6,000 3,000 200 3,000 24,950 5,250 1,500 3,000 3,000 12,750
The Seastock Charftable Trust Notes to the accounts For the year ended 5 April 2023 Fixed assets 2023 2022 Investments Fixed asset movement Valuation brought forward Additions 112.753 112,7S3 112,753 112,753 Valuation carried forward 112,753 112,753 10 Credltors: amounts fallfing due wlthin one year 2023 2022 Accruals 3,360 3,360 5,40D 5,400 11 Funds At 6 April 2022 Income Expenditure At S April 2023 Unrestricted funds Total 153,069 45,940 153,069 45,940 (29,144) [29,144) 169.865 169,865 12 Analysis of net assets between funds Fulld balances at 5 April 2023 are represented by.. Unrestrirted Fixed Assets CurrentA5sets Current Liabilitie5 Totsl Net Assets 112,753 60,472 (3,360} 169,865 Comparative information in respect of the preceding period is as follows: Unrestricted Fixed Assets Current Assets Current Liabilities Total Net Assets 112.753 45,716 (5,400} 153,069