Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Charity registration number: 1201759
Longacres Trust
Annual Report and Financial Statements for the Year Ended 5 April 2025
Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Accountants' Report | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 14 |
Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Reference and Administrative Details
Trustees Mr Guy Howden Mr Simon Bell Mr Roger Alan Howden Mr Nathan Brown Charity Registration Number 1201759 Principal Office 12 Oxford Road Pen Mill Trading Estate Yeovil BA21 5HR Independent Examiner T B Tax Services Bridge House Pattenden Lane Marden Kent TN12 9QJ
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Longacres Trust
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2025.
Objectives and activities
Objects and aims
The objects of the CIO are the relief of poverty in Somerset and the surrounding area by providing grants to individuals in need and Charities working to prevent or relieve poverty.
Objectives, strategies and activities
During the period applications were approved by the CIO to support needy situations in the Somerset area.
Public benefit
The CIO maintains a website with a contact form on it for needy persons to reach out for help.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Use of volunteers
The CIO relies entirely on volunteers to carry out the management, administration and general maintenance work. It has no paid staff or paid Trustees.
Financial review
Policy on reserves
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs, based on its size and the level of its financial commitments. The Trust has no employees and its regular outgoings are minimal. Accordingly, the Trustees have decided to adopt a policy of maintaining no significant reserves.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Structure, governance and management
Nature of governing document
The charity is a CIO constituted by a Deed of Trust dated 21 January 2023. The Trust was registered with the Charity Commission for England and Wales on 30 January 2023 under Charity Registration number 1201759.
Recruitment and appointment of trustees
The names of the Trustees who served during the period and since the year end are set out on the reference and administration page.
Arrangements for setting key management personnel remuneration
None of the trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the year apart from those disclosed in the related party note.
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Longacres Trust
Trustees' Report (continued)
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
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Longacres Trust
Trustees' Report (continued)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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:
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select suitable accounting policies and then apply them consistently;
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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; and
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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 business.
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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 6 January 2026 and signed on its behalf by:
1/6/2026 ......................................... Mr Guy Howden Trustee 1/6/2026 ......................................... Mr Nathan Brown Trustee
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Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Longacres Trust for the Year Ended 5 April 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Longacres Trust for the year ended 5 April 2025 as set out on pages 7 to 14 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that Longacres Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Longacres Trust. You consider that Longacres Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Longacres Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
1/6/2026 6 January 2026
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Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Independent Examiner's Report to the trustees of Longacres Trust
I report to the trustees on my examination of the accounts of Longacres Trust for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity trustees of Longacres Trust 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 the Longacres Trust'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 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Longacres Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Simon Bell ACCA
Bridge House Pattenden Lane Marden Kent TN12 9QJ
1/6/2026 6 January 2026
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Longacres Trust
Statement of Financial Activities for the Year Ended 5 April 2025
| Note Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 Note Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds carried forward 12 |
Unrestricted funds £ 28,800 28,800 (17,184) (17,184) 11,616 11,616 9,466 21,082 Unrestricted funds £ 31,500 31,500 (22,034) (22,034) 9,466 9,466 9,466 |
Total 2025 £ 28,800 |
|---|---|---|
| 28,800 | ||
| (17,184) | ||
| (17,184) | ||
| 11,616 | ||
| 11,616 9,466 |
||
| 21,082 | ||
| Total 2024 £ 31,500 |
||
| 31,500 | ||
| (22,034) | ||
| (22,034) | ||
| 9,466 | ||
| 9,466 | ||
| 9,466 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 12.
The notes on pages 9 to 14 form an integral part of these financial statements. Page 7
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Longacres Trust
(Registration number: 1201759) Balance Sheet as at 5 April 2025
| Note Current assets Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 12 |
2025 £ 21,922 (840) 21,082 21,082 21,082 |
2024 £ 10,306 (840) |
|---|---|---|
| 9,466 | ||
| 9,466 | ||
| 9,466 |
The financial statements on pages 7 to 14 were approved by the trustees, and authorised for issue on 6 January 2026 and signed on their behalf by:
1/6/2026 ......................................... Mr Guy Howden Trustee 1/6/2026 ......................................... Mr Nathan Brown Trustee
The notes on pages 9 to 14 form an integral part of these financial statements. Page 8
Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Longacres Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
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Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for period ended 5 April 2025 Total for period ended 5 April 2024 |
Unrestricted funds General £ 28,800 28,800 31,500 |
Total funds £ 28,800 |
|---|---|---|
| 28,800 | ||
| 31,500 |
- 3 Expenditure on raising funds
Total costs £
4 Expenditure on charitable activities
| Note Grant funding of activities Governance costs Total for period ended 5 April 2025 Total for period ended 5 April 2024 |
Unrestricted funds General £ 16,200 984 17,184 22,034 |
Total funds £ 16,200 984 |
|---|---|---|
| 17,184 | ||
| 22,034 |
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Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Total expenditure £
5 Analysis of governance and support costs
Governance costs
| Audit fees Other fees paid to auditors Other governance costs Total for period ended 5 April 2025 Total for period ended 5 April 2024 6 Net incoming/outgoing resources Net incoming resources for the year include: |
Unrestricted funds General £ 840 144 984 984 |
Total funds £ 840 144 |
|---|---|---|
| 984 | ||
| 984 | ||
| 2025 £ |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
8 Auditors' remuneration
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Cash and cash equivalents
| 10 Cash and cash equivalents | |||
|---|---|---|---|
| Cash at bank 11 Creditors: amounts falling due within one year Accruals 12 Funds Balance at 6 April 2024 £ Unrestricted funds General 9,466 Unrestricted funds General 13 Analysis of net assets between funds Current assets Current liabilities Total net assets |
Incoming resources £ 28,800 Incoming resources £ 31,500 |
2025 £ 21,922 2025 £ 840 Resources expended £ (17,184) Resources expended £ (22,034) Unrestricted funds General £ 21,922 (840) 21,082 |
2024 £ 10,306 |
| 2024 £ 840 |
|||
| Balance at 5 April 2025 £ 21,082 |
|||
| Balance at 5 April 2024 £ 9,466 |
|||
| Total funds at 5 April 2025 £ 21,922 (840) |
|||
| 21,082 |
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Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
| Current assets Current liabilities Total net assets 14 Analysis of net funds Cash at bank and in hand Net debt Net debt |
Unrestricted funds General £ 10,306 (840) 9,466 At 6 April 2024 £ 10,306 10,306 At 30 January 2023 £ - |
Total funds at 5 April 2024 £ 10,306 (840) |
|
|---|---|---|---|
| 9,466 | |||
| At 5 April 2025 £ 10,306 10,306 At 5 April 2024 £ - |
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Longacres Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
15 Related party transactions
During the period the charity made grants totalling £14,400 (2024: £12500) to persons related to one of the trustees and donations were received from a business owned and controlled by some of the Trustees. Payment was made to a business owned by one of the Trustees. This was an arms length transaction.
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Longacres Trust
Statement of Financial Activities by fund for the Year Ended 5 April 2025
| Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2025 £ 28,800 28,800 (17,184) (17,184) 11,616 11,616 9,466 21,082 |
Total Unrestricted Funds 2024 £ 31,500 |
|---|---|---|
| 31,500 | ||
| (22,034) | ||
| (22,034) | ||
| 9,466 | ||
| 9,466 - |
||
| 9,466 |
This page does not form part of the statutory financial statements. Page 15
Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2025
| Income and Endowments from: Donations and legacies (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2025 £ 28,800 28,800 (17,184) (17,184) 11,616 11,616 9,466 21,082 |
Total 2024 £ 31,500 |
|---|---|---|
| 31,500 | ||
| (22,034) | ||
| (22,034) | ||
| 9,466 | ||
| 9,466 - |
||
| 9,466 |
This page does not form part of the statutory financial statements. Page 16
Docusign Envelope ID: 1DD45C41-BE73-46D3-B22E-2D3B9AECD830
Longacres Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2025 (continued)
| Donations and legacies Appeals and donations Charitable activities Grants payable - institutions Grants payable - individuals Computer software and maintenance costs Accountancy fees |
Total Year ended 5 April 2025 £ 28,800 28,800 - (16,200) (144) (840) (17,184) |
Total 30 January 2023 to 5 April 2024 £ 31,500 |
|---|---|---|
| 31,500 | ||
| (3,050) (18,000) (144) (840) |
||
| (22,034) |
This page does not form part of the statutory financial statements. Page 17