Charity registration number 203335 (England and Wales)
JOHN SOUTHBY AND OTHERS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
JOHN SOUTHBY AND OTHERS
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Shirley Jackson |
|---|---|
| Roger Podbery | |
| Nicola Thompson | |
| Alexander Wildman (Chair) | |
| John Connolly | |
| Charity number | 203335 |
| Registered office | Mount Pleasant Farmhouse |
| Buckland | |
| Faringdon | |
| SN7 8PY | |
| Independent examiner | Gravita Audit Oxford LLP |
| First Floor, Park Central | |
| 40-41 Park End Street | |
| Oxford | |
| OX1 1JD |
JOHN SOUTHBY AND OTHERS
CONTENTS
| Page | |
|---|---|
| Chairman's statement | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
JOHN SOUTHBY AND OTHERS
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The charity paid total grants in the year to 31 March 2025 of approximately £91,000, this amount includes commitments to grants made and reflected in the charity’s Financial Statements for the year to 31 March 2024 but which were not actually paid until the following financial year.
In this financial year, as with previous years, material grants were made to the Buckland Memorial Hall ((£34,000) and Saint Mary’s church (£18,600) as contributions to the ongoing running costs of these amenities. The trustees expect material grants to these key village resources to continue to be made in future years to enable the volunteers who give so much time to these entities to be able to focus on the running of these facilities for the benefit of the community rather than on continuous fundraising.
27 separate financial assistance grants to individuals totalling £29,790 were made in the period. These included heating grants as well as broader financial assistance where such need was identified by the trustees.
The trustees continue to welcome grant applications covering all aspects of Buckland life. Grant applications are assessed on receipt, including those made on behalf of a third-party who may not feel comfortable in putting themselves forward for consideration.
..............................
Alexander Wildman (Chair) Date: .........................21 May 2025
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JOHN SOUTHBY AND OTHERS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011 and "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).
Objectives and activities
The object of the charity is to promote such charitable purposes for the general benefit of the inhabitants of the parish of Buckland as the trustees see fit with particular focus on (but not limited to) the relief of poverty, for which provision is not made from public rates and taxes.
The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission. Public benefit is achieved by awarding grants to benefit the inhabitants of the Parish of Buckland.
Achievements and performance
The charity’s capital is invested in a suitable investment portfolio. During the year total investment income of £125,975 was received, being made up of dividends and interest received.
Grant expenditure totalling £67,142 was incurred for the benefit of the local community during the year.
The trustees have reviewed the performance of the investment portfolio and believed it to be satisfactory.
Financial review
Total investment income for the year amounted to £125,975.
Total expenditure amounted to £91,709 for the year, and the gain on revaluation of the investment portfolio was £17,950.
As a result of the income of £125,975, expenditure of £91,709 and gains of £17,950 on revaluation of investments held at the year end, the charity had a net increase of funds of £52,216 for the year. The market value of the investment portfolio was £2,894,966 at 31 March 2025.
The purpose of the charity’s invested capital is to generate sufficient annual income to fund grants for the benefit of the inhabitants of the Parish of Buckland. The proceeds from the charity’s historic land ownership are treated as a permanent endowment.
The trustees’ policy is not to build up any income reserves but, over any three-year period, to expend all income generated on the defined objectives of the funds. Any capital appreciation is treated as inflation protection to the purchasing power of the permanent endowment to help maintain its “real” income.
Unrestricted reserves totalled £220,664 at 31 March 2025.
The trustees have instructed its investment manager Canaccord Genuity Wealth Management (CGWM) to adopt a prudent investment policy when managing the charity’s funds.
This cautious strategy is aimed at the generation of recurring income to support its activities while preserving the charity’s capital. The portfolio at CGWM will include a dynamic asset allocation of diversified international bonds, equities and alternative investments and CGWM will be investing with a longer-term time horizon of over 5 years.
Access to funds is achievable via withdrawals from CGWM on 5 working days’ notice, to ensure that the charity can fulfil its remit without having to hold large cash balances in its current account.
The trustees consider the capital value of the investment monies is appropriate and the performance of the funds remains satisfactory.
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JOHN SOUTHBY AND OTHERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
The charity is an unincorporated charity, constituted under a trust deed dated 18 July 1911 as amended by a scheme dated 2 August 2018.
The charity is managed by a board of trustees. The trustees meet formally several times a year to agree the broad strategy and areas of activity for the Trust, including consideration of investment, reserves and risk management policies and performance. The provisions of the governing deed specify the appointment of five trustees. There is no limit on the length of service of any trustee.
The trustees keep their skill requirements under review; and, in the event that a trustee permanently retires or additional new trustees are required, new trustees will be sought and a final decision on selection will be taken by Buckland Parish Council. It is the Parish Council that appoints all trustees under the 1911 deed (as amended in 2016 to reflect that the “rector of Buckland” position no longer exists).
The trustees who served during the year and up to the date of signature of the financial statements were: Shirley Jackson Roger Podbery Nicola Thompson Alexander Wildman (Chair) John Connolly
The trustees' report was approved by the Board of Trustees.
.............................. Alexander Wildman (Chair) Trustee
Date: .............................................21 May 2025
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JOHN SOUTHBY AND OTHERS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN SOUTHBY AND OTHERS
I report to the trustees on my examination of the financial statements of John Southby and Others (the charity) for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not 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 to enable a proper understanding of the financial statements to be reached.
Hannah Ormston CPFA ACA
Gravita Audit Oxford LLP
First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Date: ............................22.05.2025
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JOHN SOUTHBY AND OTHERS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Endowment funds funds 2025 2025 Notes £ £ Income from: Investments 3 125,975 - Expenditure on: Raising funds - 20,892 Charitable activities 4 70,817 - Total expenditure 70,817 20,892 Net gains/(losses) on investments 8 - 17,950 Gross transfers between funds - - Net movement in funds 55,158 (2,942) Fund balances at 1 April 2024 165,506 2,724,278 Fund balances at 31 March 2025 220,664 2,721,336 |
Total Unrestricted Endowment funds funds 2025 2024 2024 £ £ £ 125,975 110,490 - 20,892 - 20,633 70,817 62,814 - 91,709 62,814 20,633 17,950 - 56,638 - (41,585) 41,585 52,216 6,091 77,590 2,889,784 159,415 2,646,688 2,942,000 165,506 2,724,278 |
Total 2024 £ 110,490 |
|---|---|---|
| 20,633 | ||
| 62,814 | ||
| 83,447 | ||
| 56,638 | ||
| - 83,681 2,806,103 |
||
| 2,889,784 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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JOHN SOUTHBY AND OTHERS
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Fixed assets Investments 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Capital funds Endowment funds - general 11 Income funds Unrestricted funds |
2025 £ £ 2,894,966 51,714 (4,680) 47,034 2,942,000 2,721,336 220,664 2,942,000 |
2024 £ £ 2,871,932 45,852 (28,000) 17,852 2,889,784 2,724,278 165,506 2,889,784 |
2024 £ £ 2,871,932 45,852 (28,000) 17,852 2,889,784 2,724,278 165,506 2,889,784 |
|---|---|---|---|
| 2,889,784 | |||
| 2,724,278 165,506 |
|||
| 2,889,784 |
21 May 2025 The financial statements were approved by the Trustees on .........................
.............................. Alexander Wildman (Chair) Trustee
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JOHN SOUTHBY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
John Southby and Others is a unincorporated charity registered in England and Wales, Charity Number 203335. The charity is a public benefit entity .
Its registered office is: Mount Pleasant Farmhouse, Buckland, Faringdon, Oxfordshire SN7 8PY.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
- Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
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JOHN SOUTHBY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant accounting estimates identified.
3 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Income from listed investments | 125,975 | 110,490 |
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JOHN SOUTHBY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4 Charitable activities
| Expenditure | Expenditure | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Insurance | 495 | 476 | |
| Grant expenditure | 67,142 | 59,338 | |
| Governance costs (see note 5) | 3,180 | 3,000 | |
| 70,817 | 62,814 | ||
| 5 | Governance costs |
| Governance | Governance | ||
|---|---|---|---|
| costs | costs | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Independent examination fees | 3,180 | 3,000 | |
| 3,180 | 3,000 | ||
| Charitable activities | 3,180 | 3,000 | |
| 6 | Net movement in funds | 2025 | 2024 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 3,180 | 3,000 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or expenses from the charity during the year. (2024 - None).
8 Gains and losses on investments
| Endowment | Endowment | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 17,950 | 56,638 |
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JOHN SOUTHBY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9 Fixed asset investments
| Listed investments £ Cost or valuation At 1 April 2024 2,776,978 Additions 492,273 Valuation changes 17,950 Cash movements - Disposals (465,564) At 31 March 2025 2,821,637 Carrying amount At 31 March 2025 2,821,637 At 31 March 2024 2,776,978 Creditors: amounts falling due within one year Grant creditor Accruals and deferred income |
Cash in portfolio £ 94,954 (492,273) - 5,084 465,564 73,329 73,329 94,954 2025 £ 1,500 3,180 4,680 |
Total £ 2,871,932 - 17,950 5,084 - |
|---|---|---|
| 2,894,966 | ||
| 2,894,966 | ||
| 2,871,932 | ||
| 2024 £ 25,000 3,000 |
||
| 28,000 |
10 Creditors: amounts falling due within one year
11 Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Permanent endowments Previous year: Permanent endowments |
At 1 April 2024 Resources expended £ £ 2,724,278 (20,892) At 1 April 2023 Resources expended £ £ 2,646,688 (20,633) |
Transfers Gains and losses At 31 March 2025 £ £ £ - 17,950 2,721,336 Transfers Gains and losses At 31 March 2024 £ £ £ 41,585 56,638 2,724,278 |
|---|---|---|
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JOHN SOUTHBY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 April | Incoming |
Incoming |
Resources | Resources | Transfers | At 31 March | At 31 March | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |||||||
| £ | £ | £ | £ | £ | ||||||
| General funds | 165,506 | 125,975 | (70,817) | - | 220,664 | |||||
| Previous year: | At | 1 April | Incoming |
Resources | Transfers | At 31 March | ||||
| 2023 | resources | expended | 2024 | |||||||
| £ | £ | £ | £ | £ | ||||||
| General funds | 159,415 | 110,490 | (62,814) | (41,585) | 165,506 | |||||
| 13 | Analysis of net assets between funds | |||||||||
| Unrestricted | Endowment | **Total ** |
Unrestricted | Endowment |
Total | |||||
| funds | funds | funds | funds | |||||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |||||
| £ | £ | £ | £ | £ | £ | |||||
| Fund balances at 31 | ||||||||||
| March 2025 are | ||||||||||
| represented by: | ||||||||||
| Investments | 173,630 | 2,721,336 | 2,894,966 | 147,654 | 2,724,278 | 2,871,932 | ||||
| Current assets/(liabilities) | 47,034 | - | 47,034 | 17,852 | - | 17,852 | ||||
| 220,664 | 2,721,336 | 2,942,000 | 165,506 | 2,724,278 | 2,889,784 |
14 Related party transactions
No related party transactions were made during the year.
In the year ended 31 March 2024, the Charity made a grant to the Buckland Memorial Hall of which one of the trustees was treasurer at the time of the grant. This grant was £6,000.
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