**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: 1. accounting records were not kept in respect of the Charity as required by Section 130 of the Charities Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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... Page 5 **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... Page 6 **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... Page 7 **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... Page 8 **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.. Page 9 **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 Page 10