## **The Seastock Charitable Trust**
**Trustees' Report and Financial Statements for the year ended 5 April 2025**
**Charity number: 1193178**
**The Seastock Charitable Trust**
## **Contents**
||Page|
|---|---|
|Report of the Trustees|1-3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the accounts|7-12|
**The Seastock Charitable Trust**
## **Report of the Trustees For the year ended 5 April 2025**
The trustees present their report and financial statements of the charity for the year ended 5 April 2025, which have been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Reference and Administrative details of the Charity**
Name The Seastock Charitable Trust Charity Number 1193178 Trustees Arthur Davies Kathrine Davies Thomas Davies (Appointed 5 July 2024) Principal office Ringbeck Cottage Ringbeck Road Kirby Malzeard, Ripon North Yorkshire HG4 3QF Independent Examiner Saffery LLP 10 Wellington Place Leeds LS1 4AP
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**The Seastock Charitable Trust**
**Report of the Trustees For the year ended 5 April 2025**
## **Structure, governance and management**
The charity is governed 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 1. According to the Trust Deed the total number of trustees must not exceed five at anytime. No Trustees received remuneration during the 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 activities**
Trustees are required to distribute the income in accordance with the aims stated 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 from time to time.
## _Main activities_
The main activities of the trust are that of making grants throughout England & Wales. This year grants and donations totalling £35,000 (2024: £25,250) 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 guidance 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 objectives.
## _Grant making policy_
The charity considers applications from grants which will benefit the public. The trustees meet regularly to review, consider and monitor applications.
## **Achievements and Performance**
The trustees granted £35,000 towards charitable purposes within the year.
## **Financial Review**
Total incoming resources of the charity for the year was £77,825 (2024: £nil). The balance of unrestricted funds at 5 April 2025 was £180,516 (2024: £141,155).
## _Reserves Policy_
It is the policy of the Trust that the Trustees shall have powers to establish funds for particular purposes or to maintain reserves. There is no specific requirement for a certain level of reserves. The current level of free reserves is at £67,763 (2024: £28,402).
During the year year a commitment has been made to pay a total of £9,000 in donations over three years. The first payment of £3,000 was made in October 2024. This is alongside the £25,000 commitment from 2023, with the first payment being in June 2023, and is expected to continue for five years, from the start date, donating £5,000 per annum. Payments are expected to be funded from annual and current cash flow to the Charity, rather than from reserves.
## **Plans for future and post balance sheet events**
The charity plans to continue to make grants to appropriate charities and good causes.
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##
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**The Seastock Charitable Trust**
## **Independent examiner's report to the trustees of The Seastock Charitable Trust For the year ended 5 April 2025**
I report to the charity trustees on my examination of the accounts of The Seastock Charitable Trust (the charity) for the year ended 5 April 2025
## **Respective responsibilities of trustees and examiner**
As the trustees of the charity, 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 your charity'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 2011 Act.
## **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**
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 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.
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.
Signed:
…………………………… 18 December 2025 Sally Appleton ACA Date . . . . . . . . . . . . . . . . . . . . . . FCA Saffery LLP 10 Wellington Place Leeds LS1 4AP
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## **The Seastock Charitable Trust**
## **Statement of Financial Activities For the year ended 5 April 2025**
**----- Start of picture text -----**
Note 2025 2024
Unrestricted Unrestricted
£ £
Income from:
Investments 3 77,825 -
-
Total income 77,825 -
Resources expended
Charitable activities 4 38,464 28,710
Total expenditure 38,464 28,710
Net income/(expenditure) 39,361 (28,710)
Unrestricted funds brought forward 141,155 169,865
Unrestricted funds carried forward 180,516 141,155
**----- End of picture text -----**
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##
##
||`Note`|`2025`|`2024`|
|---|---|---|---|
|||`£`|`£`|
|`Fixedassets`||||
|`Investments`|
`8`|
`112,753`
`112,753`|
`112,753`
`112,753`|
|`Currentassets`||||
|`Cashatbankandinhand`
`Investments`|
`9`|
`21,089`
`50,238`
`71,327`|
`31,862`
`-`
`31,862`|
|`Creditors:amountsfallingduewithintheyear`||||
|`Accrualforprofessionalfees`|`10`|`3,564`|`3,460`|
|`Netcurrentassets`|
|
`67,763`|
`28,402`|
|`Totalassetslessliabilities`|
|
`180,516`|
`141,155`|
|`Representedby:`||||
|`TheFundsofthecharity`||||
|`Unrestrictedfunds`|
`11`
|
`180,516`
`180,516`
|
`141,155`
`141,155`
|
**The Seastock Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
## **1 Accounting Policies**
## a) **Basis of accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Charities SORP (FRS 102).
The accounts cover the year from the 6 April 2024 to the 5 April 2025.
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 otherwise stated in the relevant account policy notes.
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 £.
## b) **Going Concern**
The financial statements are drawn up on the going concern basis which assumes the Charity will continue in operational existance for the foreseeable future.
The charity relies on investment income, no dividends were received during the year following a waiver of a dividend by the trustees, however it is expected there will be two dividends in the following year.
The Trustees monitor the Charity's cash flow which would forecast 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 accordingly, the Charity accounts are appropriately prepared under a going concern basis.
## c) **Income and endowments**
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 legacies**
Donations received are considered for any restrictions. At the year end all donations were unrestricted therefore all funds are unrestricted.
## e) **Current asset investments**
Current asset investments includes fixed rates deposit accounts, which are initially measured at transaction price including transaction cost plus subsequent interest received. As amounts are expected to be withdrawn from the deposit account within 12 months, they are treated as a current asset investment.
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**The Seastock Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
## **1 Accounting Policies (cont)**
f) **Investment income** Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
- g) **Expenditure**
Expenditure is included in the accounts on an accruals basis.
h) **Governance costs** Governance costs relate to the cost of professional fees for accountancy. These have been allocated to charitable activities.
- i) **Charitable activities**
Costs of charitable activities include grants and donations made, governance costs and support costs.
j) **Taxation** The charity is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
- k) **Investments**
Investments are stated at the net asset value of shares less impairment. Unrealised gains and losses on investments are recognised on the Statement of Financial Activities.
- l) **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.
## m) **Fund structure**
Unrestricted income funds are general funds that are avaliable for use at the Trustees' discretion in furtherance of the objectives of the charity.
- **2 Critical accounting judgements and key sources of estimation uncertainty**
In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets 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 underlying assumptions are reviewed on an ongoing basis. Revisions 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 Trustees. The unquoted shares were donated by the Trustees and are not publicaly traded therefore where there is no realdily ascertainable market value, the investments are measured at their gifted value and reviewed at each reporting date for any impairment to value.
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**The Seastock Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
**----- Start of picture text -----**
3 Income from Investments
2025 2024
£ £
Dividends from investments 77,587 -
Interest from investments 238 -
77,825 -
4 Charitable Activities and Administration
2025 2024
£ £
Grants and donations made (note 5) 35,000 25,250
Governance costs 3,464 3,460
38,464 28,710
The governance costs wholly relate to the independent examination.
5 Grants and donations
The following are all grants to institutions. There are no related support costs.
2025 2024
£ £
The Diocese of Leeds 1,500 3,000
Ripon Catherdral 3,000 3,000
Ripon Cathedral Development Fund - 5,000
Ripon Concert Club 3,000 -
Northern Aldborough Festival 5,000 5,000
Pimlico Opera 4,000 -
The Landmark Trust 4,000 3,000
The Truants Foundation 4,000 -
The Countryside Alliance 1,000 -
Changing Lives Through Hourses 4,000 3,000
Charlie Waller Trust 4,000 3,000
Fountains Group of Parishes 600 -
Kirkiby FP Church 900 -
Cancer research - 250
35,000 25,250
**----- End of picture text -----**
## **6 Trustees remuneration**
No trustees received any remuneration or expenses in the current or prior period.
## **7 Related party transactions**
During the current and prior period there were no transactions with related parties.
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**The Seastock Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
**----- Start of picture text -----**
8 Fixed assets
2025 2024
£ £
Investments 112,753 112,753
Fixed asset movements
Valuation brought forward and carried forward 112,753 112,753
9 Current assets
2025 2024
£ £
Investments 50,238 -
50,238 -
10 Creditors: amounts falling due within one year
2025 2024
£ £
Accruals 3,564 3,460
3,564 3,460
11 Funds
At 6 April 2024 Income Expenditure At 5 April 2025
£ £
Unrestricted funds 141,155 77,825 (38,464) 180,516
Total 141,155 77,825 (38,464) 180,516
**----- End of picture text -----**
## **12 Staff numbers**
The average monthly number of full-time equivalent employees and key management personnel during the year was nil (2024: nil).
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**The Seastock Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
**----- Start of picture text -----**
13 Financial commitments, guarantees and contingent liabilities
2025 2024
£ £
Payable in less than one year:
Young People's Music 5,000 5,000
Ripon Concert Club 3,000 -
Total 8,000 5,000
2024 2024
£ £
Payable 2-5 years
Young People's Music 10,000 15,000
Ripon Concert Club 3,000 -
Total 13,000 15,000
Movements on commitments 2025 2024
£ £
Commitments brought forward 20,000 -
Commitments made 9,000 25,000
Commitments paid out (8,000) (5,000)
Commitments as at 5 April 2025 21,000 20,000
14 Comparative Statement of Financial Activites
2024 2023
Unrestricted Unrestricted
£ £
Income from:
Donations and legacies - 13,707
Investments - 32,233
Total income - 45,940
Resources expended
Charitable activities 28,710 29,144
Total expenditure 28,710 29,144
Net (expenditure)/income (28,710) 16,796
Net income (28,710) 16,796
Unrestricted funds brought forward 169,865 153,069
Unrestricted funds carried forward 141,155 169,865
**----- End of picture text -----**
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