CHARITABLE INCORPORATED ORGANISATION NUMBER: CE036615 (England and Wales) REGISTERED CHARITY NUMBER: 1208898
Report of the Trustees and
Unaudited Financial Statements For The Period 28 June 2024 to 31 December 2024
for
The Woodcock Trust
Charles A. Wood & Co. Chartered Accountants 15 Prospect Street Bridlington East Yorkshire YO15 2AE
The Woodcock Trust
Contents of the Financial Statements For The Period 28 June 2024 to 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
The Woodcock Trust
Report of the Trustees For The Period 28 June 2024 to 31 December 2024
The trustees present their report with the financial statements of the charity for the period 28 June 2024 to 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
INCORPORATION
The Charitable Incorporated Organisation was incorporated on 28 June 2024.
OBJECTIVES AND ACTIVITIES
History, objectives and activities of the trust
The prevention and relief of poverty and the advancement of Christian denominations, especially Methodism, within and around any area which includes Bridlington, through the provision of housing, accommodation and support, and such other activities that are incidental, supplementary or ancillary to the objects of this Charity.
Public benefit
The trustees consider that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Grantmaking
The Charity has supported St John's Burlington Methodist Church in Bridlington with a Grant of £5,000 and Sewerby Methodist Church with a Grant of £2,600 in both cases to assist with the Church heating and lighting costs.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The trustees are satisfied with the development of the charity during the year, as reflected in the accounts.
During the course of the period no flats were empty, all units being fully let. There were no bad debts.
FINANCIAL REVIEW
Financial review, investment policy and reserves
The Statement of Financial Activities shows a net expenditure for the period of £5,455. Reserves at the period end were £1,148,676 in aggregate.
The charity keeps under review all of the investments of the trust and maintains a good level of liquidity to meet the costs of anticipated projects of a major nature.
Principal funding sources
The Charity relies on rent charged to its beneficiaries, provided with accommodation in the Endowment property as the main charitable purpose, together with income generated from its investments to provide sufficient funds to cover the ongoing maintenance and other operating expenses. The Trustees are regularly reviewing the income generated from these sources to ensure the charities primary objective can be delivered.
Reserves policy
The Charity does not seek to accrue funds beyond that necessary to operate.
Free reserves held by the Charity will not exceed that necessary to operate the charity for twelve months.
At 31 December 2024 the free reserves were £121,068 represented by the unrestricted investments of £52,494 and the net current assets of £68,574.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
On 28 June 2024 the charity was registered as a Charitable Incorporated Organisation ("the CIO") and a new constitution was adopted. The CIO took over all the assets and liabilities of the unincorporated charity known as The Woodcock Trust with registered charity number 221282.
The unincorporated charity was established under the Will dated 30 December 1957 of the late Miss Nellie Woodcock to be administered by the Trustees of the Quay Methodist Church, Bridlington.
Page 1
The Woodcock Trust
Report of the Trustees For The Period 28 June 2024 to 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Management and governance arrangements
New trustees and officers are chosen by the existing trustees taking into account their association and sympathy with the objects of the trust. The chair of the trustees is responsible for the induction of any new trustee which involves awareness of the trustee's responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees regularly review the risks that the Charity faces, which mainly relate to investment management. The trustees have undertaken regular maintenance of the investment properties to ensure the properties are maintained to a high standard in order to mitigate any risks that would otherwise arise.
REFERENCE AND ADMINISTRATIVE DETAILS Charitable Incorporated Organisation number
CE036615 (England and Wales)
Registered Charity number
1208898
Registered office
10 Dunnscroft Flamborough Bridlington YO15 1PZ
Trustees
Mrs K Briggs (appointed 28.6.2024, resigned 1.7.2024) G Wroote (appointed 28.6.2024, resigned 1.7.2024) G Gregson (appointed 28.6.2024, resigned 1.7.2024) P Jay (appointed 28.6.2024) K Abbott (appointed 28.6.2024) J Padwick (appointed 28.6.2024) D Briggs (appointed 28.6.2024, resigned 1.7.2024) Mrs R Cooper (appointed 28.6.2024) Rev. J A Fisher (appointed 28.6.2024)
Independent Examiner
Charles A. Wood & Co. Chartered Accountants 15 Prospect Street Bridlington East Yorkshire YO15 2AE
Approved by order of the board of trustees on 21 October 2025 and signed on its behalf by:
Rev. J A Fisher - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Woodcock Trust
Independent examiner's report to the trustees of The Woodcock Trust ('the Charity')
I report to the charity trustees on my examination of the accounts of the Charity for the period 28 June 2024 to 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of your charity's accounts as carried out under Section 145 of 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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:
-
accounting records were not kept in respect of the Charity as required by Section 130 of the Charities Act; or
-
the accounts do not accord with those records; or
-
the accounts did 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
A W Ingham BSc FCA CTA
A member of The Institute of Chartered Accountants in England and Wales
Charles A. Wood & Co. Chartered Accountants 15 Prospect Street Bridlington East Yorkshire YO15 2AE
21 October 2025
Page 3
The Woodcock Trust
Statement of Financial Activities For The Period 28 June 2024 to 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM Charitable activities Accommodation Investment income 2 Total EXPENDITURE ON Raising funds Charitable activities Accommodation Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 9 Net movement in funds RECONCILIATION OF FUNDS Transfer from unincorporated charity on incorporation of CIO TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 28,305 3,427 31,732 5,999 30,087 36,086 (424) (4,778) (11,322) (16,100) 216,535 200,435 |
Restricted funds £ - 256 256 - - - (36) 220 11,322 11,542 114,125 125,667 |
Endowment fund £ - - - - - - (987) (987) - (987) 823,561 822,574 |
Total funds £ 28,305 3,683 31,988 5,999 30,087 36,086 (1,447) (5,545) - (5,545) 1,154,221 1,148,676 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 4
The Woodcock Trust
| Balance Sheet 31 December 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 79,367 Investments 6 52,494 131,861 CURRENT ASSETS Debtors 7 1,961 Cash at bank 69,458 71,419 CREDITORS Amounts falling due within one year 8 (2,845) NET CURRENT ASSETS 68,574 TOTAL ASSETS LESS CURRENT LIABILITIES 200,435 NET ASSETS 200,435 FUNDS 9 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Restricted funds £ 83,441 42,226 125,667 - - - - - 125,667 125,667 |
Endowment fund £ 760,192 62,382 822,574 - - - - - 822,574 822,574 |
Total funds £ 923,000 157,102 1,080,102 1,961 69,458 71,419 (2,845) 68,574 1,148,676 1,148,676 200,435 125,667 822,574 1,148,676 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 October 2025 and were signed on its behalf by:
J A Fisher - Trustee
R Cooper - Trustee
The notes form part of these financial statements
continued...
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The Woodcock Trust
Notes to the Financial Statements For The Period 28 June 2024 to 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity was incorporated as a Charitable Incorporated Organisation on 28 June 2024. On incorporation the assets and liabilities of the unincorporated charity known as The Woodcock Trust (Registered charity number 221282) were transferred to the CIO.
Income
All income is recognised in the Statement of Financial 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 committing the charity to that 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 accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Freehold property held for the primary purpose of the charity is not depreciated as the residual value of each property is so great that any depreciation is immaterial.
Freehold properties are carried at fair value and subject to an independent professional valuation every 5 years.
Taxation
The charity is exempt from corporation tax 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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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The Woodcock Trust
Notes to the Financial Statements - continued For The Period 28 June 2024 to 31 December 2024
2. INVESTMENT INCOME
| Investment income GRANTS PAYABLE Accommodation The total grants paid to institutions during the period was as follows: St John's Burlington Methodist Church Heating Grant Sewerby Methodist Church Heating Grant |
£ 3,683 £ 7,600 £ 5,000 2,600 7,600 |
|---|---|
3. GRANTS PAYABLE
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31st December 2024.
Trustees' expenses
Administrative expenses of £150 have been reimbursed to 1 of the trustees.
5. TANGIBLE FIXED ASSETS
| 5. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Freehold | ||
| property | ||
| £ | ||
| COST | ||
| At 28 June 2024 and 31 December 2024 | 923,000 | |
| NET BOOK VALUE | ||
| At 31 December 2024 | 923,000 | |
| 6. | FIXED ASSET INVESTMENTS | |
| Investments | ||
| £ | ||
| MARKET VALUE | ||
| At 28 June 2024 | 164,976 | |
| Additions | 1,573 | |
| Disposals | (8,000) | |
| Revaluations | (1,447) | |
| At 31 December 2024 | 157,102 | |
| NET BOOK VALUE | ||
| At 31 December 2024 | 157,102 |
There were no investment assets outside the UK.
continued...
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The Woodcock Trust
Notes to the Financial Statements - continued For The Period 28 June 2024 to 31 December 2024
6. FIXED ASSET INVESTMENTS - continued
The investments are analysed as follows:
| Charities UK Equity Fund CFB Corporate Bond Total Cost or valuation at 31 December 2024 is represented by: Valuation in 2024 Cost 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses |
2024 £ 69,347 87,755 157,102 Investments £ (1,447) 158,549 157,102 £ 1,961 £ 288 2,557 2,845 |
|---|---|
9. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Extraordinary Repair Fund Cyclical Maintenance Fund Endowment funds Trust Capital Account TOTAL FUNDS |
Transfer from unincorporated charity on 28.6.24 £ 216,535 74,849 39,276 114,125 823,561 1,154,221 |
Net movement in funds £ (4,778) - 220 220 (987) (5,545) |
Transfers between funds £ (11,322) - 11,322 11,322 - - |
At 31.12.24 £ 200,435 74,849 50,818 125,667 822,574 1,148,676 |
|---|---|---|---|---|
continued...
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The Woodcock Trust
Notes to the Financial Statements - continued For The Period 28 June 2024 to 31 December 2024
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| 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 | 31,732 | (36,086) | (424) | (4,778) | |
| Restricted funds | |||||
| Extraordinary Repair Fund | - | - | - | - | |
| Cyclical Maintenance Fund | 256 | - | (36) | 220 | |
| Endowment funds | |||||
| Trust Capital Account | - | - | (987) | (987) | |
| TOTAL FUNDS | 31,988 | (36,086) | (1,447) | (5,545) |
The transfer from the unincorporated charity on 28 June 2024 relates to the net funds transferred from the registered charity known as “The Woodcock Trust” (Registered charity number 221282).
The Trust Capital Account relates to the endowment funds that were left to the unincorporated charity under the Will of the late Miss Nellie Woodcock in 1957.
The Extraordinary Repair Fund and the Cyclical Maintenance Fund were established to cover items of repair and renewal expenditure which occur infrequently. Annual appropriations are made to these funds as considered by the Trustees. Transfers are made from the funds to cover exceptional expenditure. The funds are represented by cash at bank and current asset investments.
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2024 other than the transfer of the assets and liabilities of the unincorporated charity on 28 June 2024 when the Woodcock Trust (Registered Charity number 221282) was incorporated as a Charitable Incorporated Organisation..
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The Woodcock Trust
Detailed Statement of Financial Activities For The Period 28 June 2024 to 31 December 2024
| INCOME AND ENDOWMENTS Investment income Investment income Charitable activities Rent receivable Total incoming resources EXPENDITURE Raising donations and legacies Letting cost and valuers fees Charitable activities Rates and water Insurance Light and heat Sundries Repairs and maintenance Grants to institutions Support costs Governance costs Legal fees Clerical fees Independent examination Bookkeeping Total resources expended Net expenditure |
£ 3,683 28,305 31,988 5,999 865 2,073 1,304 741 6,488 7,600 19,071 8,634 150 1,800 432 11,016 36,086 (4,098) |
|---|---|
This page does not form part of the statutory financial statements
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