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2025-06-30-accounts

Nicholas Watts' Gift known as

Nicholas Watts' Charity Brownsdon and Tremayne Estate

Receipts and Payments Accounts Year ended 30 June 2025

Registered Charity number: 203271

Nicholas Watts' Charity

Financial Statements

Year ended 30 June 2025

Contents Page
Legal and Administrative Details 1
Trustees’ Report 2
Statement of Trustees’ Responsibilities 3
Independent Examiner’s Report to the Trustees 4
Receipts and Payments Account 5
Statement of Assets and Liabilities 8
Notes to the Accounts 9

Nicholas Watts' Charity

Legal and Administrative Details

Year ended 30 June 2025

Nicholas Watts Charity is a registered charity (no. 203271). It was established to administer income from the Estate of Mr N Watts (deceased) in accordance with his Will dated 17th February 1674.

The principal address of the charity is Hardstone Bungalow, Dunterton, Tavistock, Devon PL19 0QJ.

Main agents:

Independent Examiner

Louise Bridgett FCA Francis Clark LLP Melville Building East Unit 18 23 Royal William Yard Plymouth Devon PL1 3GW

Bankers

TSB Bank Plc Bedford Square TAVISTOCK Devon PL19 0AG

1

Nicholas Watts' Charity

Trustees' Report

Year ended 30 June 2025

The Trustees present their report and the Receipts and Payments Accounts of the charity for the year ended 30 June 2025.

The charity Trustees who acted during the year were as follows:-

D Bird - Chairman W Lake
D M Carr - Vice Chairman J Medland
R Bird T G Pearce
S Carr H Sanders
J Collacott G W Venning
J Downing K N Williams
R Glanville R G Woolcock
D E Greening C J Edwards
J Greening R A Derges
D A Turner

New Trustees are elected by the Board of Trustees and serve until retirement.

Aims and organisation

The object of the charity is to distribute income arising from the Estate of Mr N Watts (deceased) in accordance with the terms of the deceased’s Will, and the Scheme set up in 1985.

The charity has complied with the duty in section 4 of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities.

Reserves Policy

The Trustees' policy is to invest surplus reserves available for distribution in investments which provide a reasonable rate of return without compromising on accessibility.

The Trustees' policy in selecting individuals to receive grants is to consider all applications submitted on merit and to make grants where the constraints of the scheme are met.

Review of progress and achievements

The Brownsdon Estate distributed £3,300.00 during the year.

The Tremayne Estate distributed £854.99 during the year.

The Divinity Fund distributed £86.82 to Abbey Chapel during the year.

Approved by the Trustees on 23 September 2025 and signed on their behalf by:

J Collacott

on behalf of the Board of Trustees

2

Nicholas Watts' Charity

Statement of Trustees' Responsibilities

Year ended 30 June 2025

Charity law requires the Trustees to prepare a Receipts and Payments account and Statement of Assets and Liabilities for each financial year which properly present the charity’s receipts and payments for the year together with its assets and liabilities at the end of the period, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities

Approved by the Trustees on 23 September 2025 and signed on their behalf by:

J Collacott

For and on behalf of the Board of Trustees

3

Nicholas Watts' Charity

Independent Examiner’s Report to the Trustees of the Nicholas Watt's Charity

Year ended 30 June 2025

I report to the trustees on my examination of the accounts of Nicholas Watts' Gift (the Trust) for the year ended 30 June 2025, which are set out on pages 5 to 9.

Responsibilities 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 respect of my examination of the 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:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

L Bridgett FCA

Francis Clark LLP Chartered Accountants PLYMOUTH

Date: 23 April 2026

4

Nicholas Watts' Charity

William Brownsdon Estate

Receipts and Payments Account

Year ended 30 June 2025
Receipts
Income from restricted fund assets
30,552.38 COIF income units
67,369.29 M&G Charity Multi Asset fund
TSB Bank deposit account
Total receipts
Payments
Direct charitable expenditure
Distributions during the year
Governance Costs
Clerk's salary
Clerk's expenses
Accountancy
Advertising
Sundry
Total payments
Surplus of receipts over payments
Purchase of investments
Fund balances brought forward
Fund balances carried forward
Less liabilities
Liquid Funds available for distribution
Investments available for distribution		 £
£
£
£
17,078.77
16,706.55
2,728.39
2,694.70
1,414.83
845.64
21,221.99
20,246.89
3,300.00
700.00
2,683.32
1,350.00
131.25
131.25
756.00
810.00
641.34
282.67
310.07
180.10
4,521.98
2,754.02
7,821.98
3,454.02
13,400.01
16,792.87
-
-
72,900.90
56,108.03
86,300.91
72,900.90
(933.33)
(2,328.75)
85,367.58
70,572.15
98,459.48
98,451.44
2024
2025		 £
£
£
£
17,078.77
16,706.55
2,728.39
2,694.70
1,414.83
845.64
21,221.99
20,246.89
3,300.00
700.00
2,683.32
1,350.00
131.25
131.25
756.00
810.00
641.34
282.67
310.07
180.10
4,521.98
2,754.02
7,821.98
3,454.02
13,400.01
16,792.87
-
-
72,900.90
56,108.03
86,300.91
72,900.90
(933.33)
(2,328.75)
85,367.58
70,572.15
98,459.48
98,451.44
2024
2025
20,246.89
700.00
2,754.02
3,454.02
16,792.87
-
56,108.03
72,900.90
(2,328.75)
70,572.15
98,451.44

5

Nicholas Watts' Charity

Tremayne Estate

Receipts and Payments Account

Year ended 30 June 2025

Receipts
Income from restricted fund assets
12,831.39 COIF income units
1,303.17 COIF income units
TSB Bank deposit account
Total receipts
Payments
Direct charitable expenditure
Distributions during the year
Governance Costs
Clerk's salary
Clerk's expenses
Accountancy
Advertising
Sundry
Total payments
Surplus of receipts over payments
Fund balances brought forward
Fund balances carried forward
Less liabilities
Funds available for distribution		 £
£
£
£
7,172.74
7,020.05
728.49
712.98
448.61
493.70
8,349.84
8,226.73
854.99
-
1,116.68
450.00
43.75
43.75
378.00
270.00
320.16
141.33
155.03
180.10
2,013.62
1,085.18
2,868.61
1,085.18
5,481.23
7,141.55
51,740.80
44,599.25
57,222.03
51,740.80
(460.67)
(776.25)
56,761.36
50,964.55
2025
2024

6

Nicholas Watts' Charity

Divinity Fund

Receipts and Payments Account

Year ended 30 June 2025

Income from restricted fund assets
158.75 COIF income units
Total income for the year
Direct charitable expenditure
Distributions during the year
Surplus of receipts over payments
Fund balances brought forward
Fund balances carried forward		 2025
2024
£
£
88.74
86.82
88.74
86.82
(86.82)
(86.48)
1.92
0.34
86.82
86.48
88.74
86.82

7

Nicholas Watts' Charity

Statement of Assets and Liabilities

Year ended 30 June 2025

Restricted funds Investment Assets

Restricted funds
Investment Assets
Brownsdon Estate
1,755.28 COIF income units
67,367.29 M&G income units
Monetary Assets
Cash balances on receipts and payments accounts
Brownsdon
Tremayne
Divinity
Liabilities now due for payment
Brownsdon -
Independent examination
Clerk's salary
Clerk's expenses
Tremayne -
Independent examination
Clerk's salary
Clerk's expenses
Endowed Funds
Non - monetary assets
Endowed funds held for investment purposes:
Brownsdon Estate
28,797.10 COIF income units
Tremayne Estate
12,831.39 COIF income units
1,303.17 COIF income units
Divinity Fund
158.75 COIF income units
Signed by:J Collacott		 Costs
to date
£
20,000.00
50,000.00
Costs
to date
£
30,800.58
14,572.03
4,196.22
1,164.92
50,733.75		 Market Value
Market Value
2025
2024
£
£
34,076.56
35,705.55
64,382.92
62,745.89
98,459.48
98,451.44
2025
2023
£
£
86,300.91
72,900.90
57,222.03
51,740.80
88.74
86.82
143,611.68
124,728.52
800.00
847.50
-
1,350.00
133.33
131.25
933.33
2,328.75
394.00
282.50
-
450.00
66.67
43.75
460.67
776.25
Market Value
Market Value
2025
2024
£
£
559,079.57
585,784.85
249,113.74
261,013.57
25,300.26
26,508.82
3,082.04
3,229.26
836,575.61
876,536.50
876,536.50

Date: 23 September 2025

For and on behalf of the board of Trustees

8

Nicholas Watts' Charity

Notes to the accounts

Year ended 30 June 2025

1 Accounting policies

General

The accounts have been prepared on a receipts and payments basis and comply with section 133 of the Charities Act 2011.

2 Trustee’s Remuneration and Expenses

No remuneration nor expenses was paid to any of the Trustees during the year.

9