REGISTERED CHARrrY NUMBER: 1202906 Report of the Trustees and Ungudited Financial Statements for the Period 26 October 2022 to 5 April 2024 for The Phillida Nieho]son Cbaritable Trust Tayabali Tomlin Chartered Accountants Kenion House Oxford Strcct Moreton-in-marsh Glou¢esl¢rshire GL56 OLA
The Phillida Nicholsoll Charitable Trust ConteDts of the Fingncial Statements for the period 26 October 2022 to 5 April 2024 Page Report of the Trustees Indepelldellt Examiuer's Report StAtement of Fillancial Activiti Balance Sheet Note8 to the Fingncial Statements Detailed Statement of Financial Activities
Tbe Phillida Nicholson Charitable Trust Report of the Trustees for the period 26 October 2022 ¢0 5 April 2024 The trnstees present their report with the financial statevnents of the charity for the period 26 October 2022 to 5 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Pracii¢e appli¢able to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effcctive l January 2019). OBJECTIVES AND ACTIVITIES Objectives And aims The trustees have a grant making policy and have adhered to this in llthking grants wherever possible. ACHIEVEMENT AND PERFORMANCE Charitable activities alld aehievemeuts The trustees have made one substantial grant to pay for a van for use by Sethule a UK registered charity working in Zimbabwe. The van will be used to support the charitie5 work with Orphans and other disadvantaged young p¢ople. We also made a grdnt to Sethule towards the education of 6 students thal would otherwise have been unable to attend school due to their inability to pay. Th¢ trnstees visited Zimbabwe in 2024 saw the van in use and met the young school pupils. Other smaller grants were made all in line with the remil of the Charities 8fdnt-making policy documenL Investment perfortnance and polA¢ies Th¢ Trustees Aci 2000 now confers the chariws investment powers. The charity aims to gain the best returns and engages an investment manager to oversee the charity's portfolio. FANcL REvw Reserves policy The charity has no significant source of income other than investment income. The trustees will endeavour to maintain reser¥es at a level that provides recurring incorne to distribute to charitable causes. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documenl The charily is Controlled by its governing documen( a deed of trust and constitutes an unincorporated charity. Recruitmenl alld %ppoAnlment of new trustees There must be at least two trustees. Apart from the first trnstees, every trustee must be appointed by a resolution of the trustees passed at a special meeting called under Clause 15 of the trust deed. In line with recomtnendations given by their advisors an additional trustee was appointed. in August 2023. In selecting individuals for appointment as tn]stees, the trustees must have regard to the skills knowledge and expcrience necded for th¢ cffectiv¢ adrnini5trdtion of thc charity. REFERENCE AND ADMlsTRATIvE DETAILS Registered Charity number 1202906 Page I
The Phillida Nichobon Charitable Trusl Report of the Trustees for the period 26 October 2022 to 5 April 2024 Principal address Templis Broadw¢ll Moreton-in-marsh Gloucestershire GL56 OTU Trustees Mr R J Greenhill (appointed 81812023) Dr D J Neill (appointed 2611012022) Mr W R S Neill (appointed 26110r2022) Independent Examiner Tayabali Tomlin Chartered Accountants Kenton House Oxford Street Moreton-in-marsh Gloucestershire GL56 OLA Approved by order of the board of tnTStee5 on 31 January 2025 and signed on its behalf by: Dr D J Neill - Trustee Page 2
Independent Examiner's Re)rt to the Trustees of The Phillida Tr4icholsoll Charitable Trust Independent examiner's report to the trnstees of The Phillidg Nicholson Charitsble Trust I report to the charity trustees on my ¢Kamination of the accounts of The Phillida Nicholson Charitabl¢ Trust (the Trust) for the period 26 October 2022 to 5 April 2024. Responsibilitio and basis of report As the charity trustees of the 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 resp¢¢t of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Aet. Indepelldent examiner's Statement I have ¢ompleted my examination. l ¢onfimi that no material matter5 have comc to my attention in connection with the examination giving me cause to believe that in any tnaterial respect: accounting records were not kept in respect of the Trust as quired by Section 130 of the Act. or the accounts do not accord with those r¢cords- or the accounts do not comply with the applicable requirements concerning the forni 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 noi 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 io enable a proper understanding of the accounts to be reached. Oo Asad Noorani FCA Tayabali Tomlin Chartered Accountants Kenton House Oxford Street Moreton-in-marsh Gloucestershire GL56 OLA 31 January 2025 Page 3
The Phillida Nicholson Charitable Trust Statemenl of Finallcial Activities for tbe period 26 Odober 2022 to 5 April 2024 Unrestri¢t¢d fund Notes INCOME AND ENDOWMENfs FROM Donations and legacies 194,200 Investment income 4236 Totsl 198,436 EXPENDITURE ON Charitable lelivities Donations Administrative expenses 38,400 8.828 Total 47228 Net gains on investments 9,116 NET INCOME 160J24 TOTAL FUNDS CARRIED FORWARD 160J24 The notes forni part of these financial statements Page 4
The Phillida Nicholson Charitable Trus¢ Balance Sheet 5 April 2024 Unrestricted fund Notes FIXED ASSETS Investments 156,123 CURRENT ASSETS Debtors Cash at bank 145 5350 5J95 CREDITORS Amounts falling due within one year {1,194) NET CURRENT A&SETS 4201 TOTAL ASSETS LESS CURRENr LIABILITIES 160J24 NET ASSETS 160J24 FUNDS Unrestricted funds 160J24 TOTAL FUNDS 160J24 The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2025 and were signed on its behalf by: Dr D J Ncill - Trustee The notes forjn part of these financial statements Page 5
The Phillida Ni¢holson Charitable Trust Notes to the Flnallcial Statements for the period 26 October 2022 to 5 April 2024 ACCOUNTING POLICIES Basis of preparing ihe finan¢1 slalemellts The financial statements of the charity. which is a public kn¢fit entity under FRS 102, have been prepared in a¢¢ordan¢¢ M'iih the Charities SORP (FRS 102) 'Accounting and Reporting by Charities= Statement of Recommended Prncti¢e appli¢able to charities preparing their accounts in accordance with ihe Financial Reporting Standard appli¢able in the UK and Republic of Ireland {FRS 102) (¢ffectiv¢ l 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 Conventio with the exception of investments which are Includ al market value, as mimlified by the revaluation of certain assets. Illeome All income is recognised in the Stalement of Finatkcial 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 comtnitting the charity to thai 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 ac¢n]als basis and has been ¢lassifid under headings that aggregate all cost related to the category. Where costs ¢annot be dir¢¢tly attributed to particular heading5 they have been allo¢ated to a¢tiviti¢s on a basis Consisteni with the use of resources. Taxation The charity is exempt from t&x 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. Restriclions ar1 wh¢n specified by the donor or when funds are rdised for particular restricted purposes. Further ¢xplanation of the nature and purpose of each fund is included in the notes to the fmancial statements. Page 6 continued...
The Phillida Nicknolson Chgritable Trust Notes to the FinAllcial Statements- eontinued for the period 26 October 2022 10 5 April 2024 INVESTMENT INCOME Interest and dividends 4236 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the period ended 5 April 2024. Tru5tees' expens The were no trustees, expenses paid for the peri(xl ended 5 April 2024. FIXED ASSET tNVESTMENTS Listed investments MARKET VALUE Additions Disposals Revaluations 177,503 (30,253) 8,873 At 5 April 2024 156,123 NET BOOK VALUE At 5 April 2024 156,123 Th¢re were no iAvestment assets outside the UK. Cost or valuation at 5 April 2024 is represented by: Listed investments Valuation in 2024 156,123 Page 7 continued...
The Phillida Nicholson Charitable Trust Notes to the Financial Statements- continued for the period 26 October 2022 to S April 2024 DEBTORS: AMOUNfs FALLING DUE WITHIN ONE YEAR Other debtors 145 CREDITORS: AMOUYTS FALLING DUE WITHIN ONE YEAR Other creditors 1.194 MOVEMELYT IN FLQSq)S Net movement in funds At 514124 Unrestricted funds General fund 160J24 160J24 TOTAL FUNDS 160J24 160J24 Net movement in funds. included in the aErf)ve are as follows: Incotning re50urc¢s Resources expended Gains and Movement losses in funds Unrestricted funds General fund 198,436 (47228) 9,116 160J24 TOTAL FUNDS 198,436 {47228) 9,116 160J24 RELATED PARTY DISCLOSURES There were no related party transactions for the peri(MJ ended 5 April 2024. Page 8
Tbe Phillida Ni¢holsoll Charitable Trust Detailed Stalemellt of Financial Activities for the period 26 October 2022 10 5 April 2024 INCOME AND EIYDOWMENTS Donations and legacies Donations 19421MI Investmenl income Interest and dividends 4236 Totsl incomillg re8011r¢es 198,436 EXPENDITURE Charitable activities Donations 38,4(N) Support costs Finance Bank ¢harg¢s Governanec costs Accountancy Legal fees Portfolio management fees 1,194 5,880 1.714 8,788 Tolal resources expended 47228 Net income before gains and losses 151208 GaiDsl{losses) oll fixed asset investments Realised gains/(losses) OTt fixed a55cI investments 9,116 Net ineome 160J24 This pa8e does not forni part of the statutory financial stat¢ments Page 9