Charity re9istration numbÈT 200902 IEngland artd Walèsl ADDERBURY FEOFFEE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024
ADDERBURY FEOFFEE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees G Stèphen5 P A LÉem8n E Frost R E Cooke M Clink8rd E Simpson S Peissel S E Jelfs L Wells A J 8u¢hanan S D Davies Charity numbèr IEngFand and Wales) 200902 Independent examiner Gravits Audit Oxford LLP First Floor, Park Central 4Qk41 Park End Sttrt Oxford OX1 1JD
ADDERBURY FEOFFEE CHARITY CONTENTS Page Chairman's Report TfUStees' report Independent examinels report ststement ol financial activities Balance sheet Notes to the financial 8tstements 7-11
ADDERBURY FEOFFEE CHARITY CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Charity continues to support the communities ol Adderbury and Milton and has had another successful year. I would like to thank all the trustees for their continued work in helping and identifying ways we can help our community. Educational Fund £32.601 h25 beèn awarded this year to aicl the educational needs of the p8rish. With nearfy half this figu being 8warded to young people going to universities and further educ8tion or apprenticeship. Grants were also made to children going on school trips and learning experienees. The Charity Continues to support Christopher Rawlins primary school and its children and funLling totalling £6,674 was paid in January to continue th& upgrading of the schools IT offering. We work closely with the heacj te8cher, in identifying children and their families who need extr8 SUPPOrt. We have funded some children to attend the schools breakfast clubs. In aUdthDn, we are fiJnding placès for children in holiday clubs run by High Flyers allowng working parnts extra childcare in a safe and stmulating environment. 21 grants have been awarcled to those students in the village going on to further education or appCeshipS tot811ing £14,500. The uptake remains strong, and It is rewarding to be abl& tg make a diffèrenTr to young people s continuing their education or launching inio their chosen careers. Assistance Fund Grants awarded £10.365 This year has seen the charity help Pdmilies Mrith children receiving free school meals. Parents who qualify receive a top up of £10 per child per week for each week of the holidays. Vouchers worth £60 per child for the summer holiclays to hèlp ensure that their children remain fed during the holiday period. This is in addition to government funding which has been reduced. The charity repeats the vouchers at Chri5tm8s and Easter helping young children and their families. The Charity awarded grants to those who had a bereavement and supported them wth help towards funer81 expenses this totalled." £1,850 Additional grants lor Christmas were awardecl to the eldedy In the parish Totalling.. £2,750 E¢¢lesiastical Fund The churches ol St Marys and St Johns were awarded a totsl of £26,396. St Marys ¢hurch te1Ved £19.797 St Johns church received £6.599 These grants are awarcled in line with thè objects of the charity and gre there to help maintsin the fabric of the church buildings. The Gharity ts healthy and set for 8nother excjting year. Our focus is to continue to increase the giving to further help those we are here to serve. Chaim)an
ADDERBURY FEOFFEE CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trusteès present their annual report and financia5 statsments forthe year ended 31 December 2024. The finantial 5tatement5 have been preparèd in accordance with the accounting policies set tsut in note 1 to the finAncia5 statements and comply wittrt the charity's goveming document. the Charities Act 2011. FRS 102 'The Finanaal Reporting Standard applicable In Ihe UK and Republic of IreS3nd' and the Charitr&s SORP "Accounting and Reporting by Charities". Statement Df Recommended Pr8CtiTr appIlble to charities preparing their acetsunts In accord3nce with the Financial Reporting Standard applI]e in thè UK and Republic of Ireland IFRS 1021" Objeetives and a¢tivities The obj'ecbve of the charity 15 to distribute in¢ome from investrneni and 12nd to ecclesiastical, educabonal. and poverty assistantr groups in the par15hes ofAdderbury and Milton. Achievements and performance The charity has continued io make the grants according tc> ils constitutson. The charity has an èthical investsnent strategy In place wrth annual review. Ihe money is hekj in accounts which yield an income thai we are distribuiing according to Dur constitution. Thè arnounts made as grants totallecj £69.362 wére given as follows. Ecdesiastical dause £26.396 Educational clause £32.601 Assistsnce clausè £10,365 Financial revlpw The attached financial ststements are for tt)e year ended 31st Detsmber 2024. The financial statements show surplus for the year, beforè Investrnent gains, of £1.681 12022.. £26,195) after invesbnent gains. a surplus of £455.55712023.' a surplus of £1,137,6181. The charity had funds of £11,482,64412023'. £11.027.0871. Reserves policy Money not spentwithin the yearwill be put in the acGumulats"on account to further graw lh& tharity's funds. Risk Managèmont The Trustees consider the significant iisks which the charity is exposed to and establish pro¢xsses to address thes2. The main risk for the Gharity 15 considered to be managing the tr8nsib.on to an organisation which deal with much MO significant amounts of money, ensuring that they are invested appropriately to preseNe the charity for generations to come. Plans for future periods The charity intends to ensure that the prweeds from the land Sale in 2019 continue to be invested effectively to help ensure the chaity can continue to meet its objectives ift the future. Stru¢ture. govèrnance and management Adderbury Feoffee Charity is a registèrèd charity under the ChJrities Act. conStile by a charity cornmission scherne and was registered by the Charity Commissi¢>n on 22 December 1961 (Registratson Number 2009021. 1t is a eFtaritable irusL
ADDERBURY FEOFFEE CHARITY TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 The charity is administered by the Board of Trus'iees in accordan with its constitution. Trustees are appointed to the board based on their lotsl knowledge, good character. and any other applicable skills they can provide. The Trustees thai held Offi during the year are stated below.. G Stephens P A Leernan E Frost R E Cooke M Clinkard E Simpson S Peissel S E Jelf5 L Wells A J Bueh2nan S D Davies The Trustees have had regard to the guidance published by the Charity Commission on public benefit when pEparing the report and Consider thai the public benefit criteria arè satisfièd by the charitable aim5 8nQ objective5. The trustees. report s approved by the Board of Trustees. S Peissel Trustee Date...w.l.o*..Iw..'
ADDERBURY FEOFFEE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ADDERBURY FEOFFEE CHARITY I report to the trustees on my examination of the finanei81 statements of Adderbury Feoffee Charity (the chartyl for the year ended 31 December 2024. Responsibilities antl basis of rèport As the trustees of the charity YDU a spOnsible for thè preparation ol the financial ststesnents in accordan¢e witm the requirements of the CharitiesAct 2011. I report In respect of my examination of the ¢harity's financkal ststèments carrièd out undÈr section 145 of the Charities Act 2011. In carying out rny examination I have followed thè Diréctions given by the Charity Commission uncler section 145lSllbl of the Charities Act 2011. Independènt examinevs ststement Your attention is clrawn to the fact that the charity has prepared the fin8ncial statsrnents in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing thwr financial statements in accordan wth the Financial Reporting Standard 8pplicable in the UK and Republic of Iland IFRS 1021 in preferen¢e to the Accounting and Reporting by Charities.. Statemeni of Recommended Fra1 Issued on 1 April 2005 which ks referrecl to in the extant regulations but has now beèn withdrawn. l understand that this has be&n done in order for the finan¢ial $t8tèments to provide a truè and fair view in accordance with UK Generally Accepted Accounting Practice. I have CDmpletèd my èxamination. I confim that no matters h8ve come to my attention in Connection with the examination giving me cause to believe that in any maleri81 respect. accounting e0rdS were not kept in respect of the thsnty as requirèd by section 130 tsf the Charities Act 2011. the financial statements do not zccord with those Cords." or the financial st8tements do noi comply w(th the applicable wuiremènts eoncerning the fonn and Content of finantti81 statements sei Dut in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that tho financial staternents give a true and fair view. which is not a matter considÈred as part of an indep¢ndent examination. I have no CDn*ms and have come acrDSS no other matters ift connection with the exarnination io which attention should be drawn in this report in order to enable a proper undèrstanding of the financial statsments to be reached. Gary Pready FCA Gravita Audit Oxford LLP First Floor, Park Central 4041 P8rk End Street Oxford OX1 1JD Date-.
ADDERBURY FEOFFEE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Endtswmènt funds funds 2024 2024 Totsl Unrestrlcted Endowment fund$ funds 2023 2023 Total 2Q24 2023 Notes Incorne antl endowrnents from.. Invesiments Other Incorne 113.079 4.972 113,079 4,972 110.782 572 110.7B2 572 Tolal income 118,051 118,051 111.354 111.354 Expenditure on: Raising funds Charitable adivth2S 45.653 7D.717 45,653 70,717 24.768 60.391 24,768 60,391 ToLIl expenditurè 116,370 116,370 85.159 85,159 Net gainsllli)s$esl on investments 10 453,878 453,876 1,111,421 1,111,421 Nèt income and movement in funds 1,681 453,87S 455.557 26.195 1,111.421 1,137.616 Reconciliation of funds.. Fund balanees at 1 Janusry 2024 84.707 10,962,380 11,027,087 38,512 9.85D,959 9,889,471 Fund ba18n¢e$ at 31 December 2024 66,388 11.416,256 11,482.644 64,707 10.9S2.380 11,027.087 Thè ststemènt ¢>f fin$ncial activities indudes all g3ins and losses recognised in the year. 1 income 8nd expenditure derivè from continuing actvities.
ADDERBURY FEOFFEE CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Investments 12 11.416.256 10,962.380 Current assets Debtors Cash at bank and in hand 13 2.S75 71.811 1.975 65.530 74,386 67.505 Creditors: amounts fallin9 due within one year 14 17.9981 12.7981 Net current assets 66,388 64.707 Totsl assets less current liabtlities 11.482,644 11.027.087 The funds of the charity Endowment funds Unrestricted funds 11.416,256 66,388 10.962.380 64,707 15 11.482,644 11.027.087 The financ statem ts were approved by the trustees on ......................... S Peissel Trustee
ADDERBURY FEOFFEE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity inforrnation Aclderbury Feoffee Charity is a chsrty registered wth the Charity Commission in England and Wales Icharity no. 2009021. It is a public benefft entity The wistered public addres5 is The Bam, Croft Lane, Adderbury, Banbury, OX17 3NB. TEtp n8ture of the charity's operations and activities are detailed in th2 Tru5t¢e's repori 1.1 Ac¢ounting convention The financial statements are prepared under the historical cost convèntion, with the eXptIon of Investmènts which 3re included at market valuè. The financial st8tements have been prepared in accordance with Accouniing and Reporting by Charits"es." Statement Df Recommended Practi applicable to d)arities preparing their financial statements in 8¢cordance with the Financial Repon9 Stand8rds applicsblè in thè UK and republic of Ireland IFRS 1021- (Charities SORP IFRS 1021, #nd the Financial RepDrting St8nd8rd applicatAe in the UK ènd Republic of IreSand IFRS 1021 The finanaal statements have departed from the ChatieS (Accounts ar Reports) Regulations 2008 only to the extent required to provide 8 true and tsir view. This deparrure has invofvèd followng the Statement of Recommended Pracbce for charities applying FRS 102 rather than the version of tho Stat¢rnent of Recotnrllended PractiTr which Is referred to in the Regu181ion5 but which has Sin been withdrawn. Th? finanual statsments are prepared in sterting, which is the functional curncY of the charity. Monetary amounts in these financial statements are rtsundèd to thè nèarèst £. 1.2 Going concern The financial statsments have been prepared on a going COnM basis. Thè Trustees ¢tsnsi4ttr that there a no material uncertainties about the charity's ability to continue as a going concern. 1.3 Charitsble funds Unrestricted funds are 8wailable for use at the discretion of the trustees in fUrther8rn of their charitable objeotives. Restricted can only be used for particubr resiricted purposes within the objectives ol the charty. Any such income unexpended at the year£nd is shown as a restricted fund in the balan sheet. 1.4 In¢ome All income is included in the Statement of Financi81 Activities ISOFAI when the eharity is legally ented to the Income and the arnDunt can be quantified with reèsDnable 8ccuracy. No amounts are Ineluded in thè financial statements for 8eNices don8ted by volunteèrs. 1.5 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate 311 costs related to the catègory. Where costs cannot b2 dirècuy 3ttnbuted tc) particular headings they have been 3110)cated to adivities on a basis consistent with use ol the reSoUrs. Grants and donations are made in order to pursue the objectwe5 Of the ¢h8rity. 1.6 Fixed asset investmerEts Investnents are stated at rnarket value on the b8lanTr sheet date. The SOFA indudes the net g8in5 and losses arising from revaluations at year end and disposa15 during the year.
ADDERBURY FEOFFEE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2024 Critical accounting estimattrs and judgem6nts In the application of the chaiity's accounting policies, tho trustees are required to make judgements, estimate5 and assumptions abDUt the Carrying amount of assets and liabilikn.es trat are not readily apparent from other sources. Thè estimates and assouated assumption$ a based on historical experience and other factors that are considerèd to bè relevant Actual results may differ trom these estimates. The ests'mates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estirnates a recognised in the pèriod in which the estimate is revised where the revision affeets only that period, or in the period of the revision future periods where the revision affects both current and futu period5. There were no specific judgements, estimates and assumptions that were critical to the preparation of thes financial statements. Income from investmènts Unrestri¢tsd Unrestricted funds funds 2024 2023 Investrnent income 113,079 110,782 Other income untriCtsd Unrestricted funds funds 2024 2023 Other incorne Rent 533 4.439 572 4.972 572 Expenditure on raising fun(ts Unrestricted Unrp$trictsd funds funds 2024 2023 Trading costs sllprt costs 45,653 24,768 Induded in the support CDsts is £6,097 of Legal and Professional fees 12023.. £1,811), and £g.500 of rent 12023." £9,50DI
ADDERBURY FEOFFEE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on Charitsble activitiÈs Total 2024 Total 2023 Direct costs GranL funding of actiVe$ (see note 71 70,717 60,391 Analysis by fund UnrestliGted funds 70,717 60,391 The indèpéndent examinérs rèteived £2.900 during the year12023.. £2,700). Grants payable Totsl 2024 Total 2023 Grants to institutions.. Chrigtopher Rawlins CofE Primary Sehotsl St Mary's Adderbury St J(>hn thè Evangelist, MTlton High Flyèrs Oxford Dioeesan 3,94T 19,797 6,599 4,000 6.874 22,372 7,453 41,017 29.825 Grants to individuals 29,700 30.566 70.717 60.391 Trusiees None of the trustees lor any persons connectsd with them) reTrived any rÈrnunèration during the year1202& reimbursed £1201. Employees 2024 Number 2023 Number Totsl There were no Èmployees whose annual remuneration was more than £60.000.
ADDERBURY FEOFFEE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEJVIBER 2024 10 Gains and losses on investments Endowment Endowmènt funds funds 2024 2023 Gainslllossesl arising on.. Revaluation of investments 453,876 1.111.421 11 Taxation The Gharity is exempt trom taxation on its activities because all its income is applied for charitable purposes. 12 Flxed asset investmènts UnlistetJ itivestments Cost or valuation At 1 January 2D24 Valuation change3 10.962.380 453.876 At 31 Dècern)er 2024 11,416.256 Carrying amount At 31 Decernber 2024 11,416,256 At 31 De¢ember 2023 10,962.3BO 13 Debtors 2024 2023 Amounts falling dut within one year- Other debtors 2,575 1,975 14 Creditors: amounts falling due within one year 2024 2023 Accruals and de12rred income 7.998 2.798
ADDERBURY FEOFFEE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 15 UnrestrScted funds The unre5tri¢ted funds of the ¢hatity umprisè the unexpended balances Trf donations 2nd grants whith are not subject to SpefiC conditions by donors 8nd grarnto as to how they may be used. These include designated fund5 which have been set aside out of unrestricted funds by the trustees for specific purposes. At l January 2024 Incoming resources Resources expended At31 Deeember 2024 General fvnds 64,707 118,051 1116,3701 66.388 Previous year.. At 1 Jar¢uary 2023 Incoming resources Resources expended At31 December 2023 Gèneral funds 38.512 111,354 18S,1591 64.707 16 Analysis of net assets betsveer¢ funds Unrestri¢tsd Endowment fuftds tunds 2024 2024 Totsl 2024 At 31 December 2024.. Investments Current assetsllliabilitiesl 11,418,256 11,416.256 68,388 66,388 66,388 11,416.256 11,482,644 Unrestricted Endovmient funds funds 2023 2023 Totsl 2023 At 31 Decernber 2023= Investments Current assetsllliabilibesl 10,962,380 10,962.38D 64,707 64.707 84.707 10.962.380 11.027,087 17 Rèlatsd party transactions One of the trustses was paid £g.$00 in his role as lancllord12023". £9.SODI.