Charity Number SOUTHWO ANNUAL RE RT AND ACCOUNTS FOR THE YEAR ENDED 30JUNE 2023
THE SOUTHWOLD TRUST CONTENTS FOR THE YEAR ENDED 30 JUNE 2023 Page Legal and adMInte infonnabon Trustees. Annual Report Report ol the 1ndereIent Exami Re¢w"pts and Payments A¢(tsunt Statement of Assets and Lrd.le Notes to the accounts
THE SOUTHWOLO TRUST LEGAL AND ADMINISTRATIVE INFORIAATtON FOR THE YEAR ENDED 30JUNE 2023 Constitution The Southt)Id Trust, 21 Fiekl Srti Road. Soulhwokj. Suffolk, IP18 6LD is a Charity registered with the Charity CommissK)n INO. 2C648010)nstituted by a Deed of TrusL Trustses The current Twstees olthe Trust a.. Chairrnan Treasurer Other Trustees D J Gaffney T cirffor RLee M Mayhv RDTemp R Daks C Chrk IpOinted 14 April 20231 J Fuller N Johng)n J L Hursdl M O'Hare Ires•3n&l 18 No¥emir 20221 Independent Examlners Larknng GOn LLP 1 Claydon Busines5 Park Great Blakènham Ipswch IP6 ONL BonkeryJ Bardays Bank PLC waVeY Valley Lewtet5hire LE87 2BB Investment Mona9e Sarasin & Partners LLP Juxon House 1LX) St Paul's ChUrthrd London EC4M 8BU
THE SOUTHWOLD TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023 The TNstee$ are plea to present their annual rep)rt tcther ¥th the ffinan(ial ststements ofthe Charity for the yearended 30 June 2023. The legal and adrninu8trative infomiatv)n set oul on page 1 fo5 part of this report. The financaal statements complywith the requirements ofthe Charits Att 2011 the trust deed. Oblectlves The 0"ect ofthe Trust is to benefft by any thatab means the inhabitants for the time being of Southwold as defined by the Trust Deed. Under the terms of the Tnjst t)eed the exi%b'ng Ttustees have power to appoint new Trustees. NewTrustees are recruited by aimin9 to eThsU all skn.ll wuirements are Epresented. During the year the Trustees have had due ard to the guh18n publBW by the Charity Commission on public benefrt. Financial Review The Trust has made donatiorts during the year of£37,M (2022- £201.744) vthith vared in syze to various organisations. The cash funds at the end of the year were £78.912 (2022-r27,8T2). The value ofthe inve5trnent5 fvnd was £1.775.143 (2022- £1.763.184). The net surplus in the year Wd5 £51.04012022- defioiof £118,406). An interim instaknent of a legacy wa5 reIVed during the year of £40.(K)O. A payNnt 01£23,OtQ Yds made to Ihe St Edmunds Churth in January 2023 and was put tOYdrf5 the souTrJ system and porr repairs. Funds cA)nlinue to be hehy to support Arture prDieds. Reseryes policy The Trustees aim to maintain the capital value of reserve$ to generate thre inca)me and to donate cJJrrent funds as they see frt. As a large part of eXpelitre lateS to grants paKS by the Tnkstee5 to worthy organ&%ation$ within the Southwo5d area, the Trustees coukl. shoukd the Treed ocujr, redts Ihe amount of grants paid out to he maintain lunds for bjture use. Thi8 Uld leave suffioeni hJnds to ctjver all support and In aeeordanc8 with the Trust Deed. the TrLL%tees may at any time exFend all or p8rt of Ihe capit81 of the Trust Fund for the purposes and in the manner auth0ri5ed bythe goveming document. However. this would only be in exwtK)nal urcurnstances. The Trustees are aLso not bourKI to expend in any yearthe whole of the income bLrt msy retain funds for applications at a latertime. TrErefore the free reser¥es of th8rty consist of the total value of the moretary and investh)ent asset& Grtnt making policy The Trustees as betore have Ujntratrd on makJ'ThJ grants to small l(tal d)aribes Whe need ha5 been established. During th8 year the Twst made 9rants totalling £37.7. a breakdo%w of which is indL*Jed in note
THE soufHWOLD TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023 Invesknent poli¢y The Trustees VIeW the investment perf0rrnan at ear* of their haff yearty meetings. They Intend that Iticome ¢ovgrs the normal annual outgoings of the Trusl and cx)nsxler that the performan of investrnents managed b Sara5in & Partners LLP has been sati8faclory ¢JunrYJ the ojrrent year. pproved by the Trustees and signed w their beh[ty. Ta Dale.. rer IF74
THE SOUTHWOLD TRIJST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHWOLD TRUST FOR THE YEAR ENDED 30 JUNE 2023 I report on the accounts ofthe Trust for the year ended 30 Jure 2tr23 whi¢ a set out on page5 S to 8. Responsibilities and basi$ of rtport As the eharity trustees ofthe Trust you are ponb frjr the pryarati ofthe a¢wun(s in accordan wrth the requirements ofthe ChaniesAct 2011 llhe Adl. l port in respect of rny examination of the TrLt'S ac£ounts cam>J out uTrJer section 145 of the 2011 Act and in G8rrwng out my examinab.on I have folk)V all the appli(abk Dire¢bons gwen by the Chanty CoMrnWn under secon 14515llbl ofthe Act Independent examlnefs Statement I have cDmpleted myeXanalI0n. I confirm that no matelial matter5 have ccrne to rny attent+?n in connection with the examination giving rre (ause to bdwe that in any matsrial 1. a¢¢tunting records were not kept sn re¥ecl of the Trust as requyed by sedion 130 of the Act,. or 2. the accounts dg not a(Lord with those record& I have no conM$ and have cr arxoss no other matters in cA)nnection wth the examination to whith attentn should be drayffl in this repxjrt in orduto enable a proFer unde[stsndg of the accounts to bè rèad*d. Giles Kerkharn FCA DChA Larking Gowen LLP charte Ac¢ountsnts 1 Claydon Business Park Great Blakenharn Ipsw¢h IP6 ONL Date: 4/3/2024
THE SOUTHWOLD TRUST RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 30 JUNE 2023 RECEIPTS Note 2023 2022 In¢ome- From voluntary sourc8s'. Donations & legacies UnrestriefÈd Unrestrtcted 1,450 Investment incorne: Investment incorne Inve$trnenl a¢count ffjterest Bank inter Disp)sal of investments 51.OC6 482 75 51,713 81 30,609 51.563 82,409 Total T•¢8ipts 91.563 83.859 PAYMENTS Direct Charitsble EXpendIre. Grants paid Other Expenditure: Administrative expenses 37,79) 201,144 2,733 1,121 Total payments 40,523 202.265 Net Ideficitysurplus for the year Cash funds at 30 Jun* 2022 51,040 27.872 1118.4061 146.278 Cash fund$ at 30 June 2023 78,912 27.872
THE SOUTHWOLD TRUST STATEMENT OF ASSETS AND LIABILlEs YEAR ENDED 30 JUNE 2023 2023 2022 Monetsry Assets Unre5trtcted Funds Bank deposit attount Bank current ac4)unt Investment rnanagerf5 attount 55,137 1(K) 23.675 15.445 100 12.327 Total per Receipts and payffnts Account 78.912 27.872 Other Assets Had for investrnent purposes- quoted seuJiilies.' 2023 Cost 2023 PAarkei Value Hddin Sats Endonents Fund Brought forw8rd Purchase Revaluation Canied forwar 1.166.1XKJ 1.763.184 11,959 1,775,143 t,186,CXJ) Approved b the Trustees and signed OTh their behalfty. T Clifford TaSurer Date..
THE SOUTHWOLD TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023 1. INVESTMENT INCOME 2023 2022 Hokjin Corn an 1,550,344 Sarasin Endonents FuTrJ Sarasin Income and Reserves Fund 51,C 51,006 707 Total per R¥£ipts and Payments A(nt 51.LK 2. GRANTS MADE 2023 2022 Recipient Southwold P.C.C. Art5 Centre Sole Bay Care Fund St Edmunds Church Arts Soaety Southwold Mu%c Tnjst Southwold Common trust St Barnabas Southwold Millenium FoundatK)n SouthGen Reon Playing Fiekjs Charrty 23,C(Ml 7) 5.394 110,750 60,000 25,0 37.79) 201.144 3. ADMINISTRATEVE EXPENSES 2023 2022 Payee Larking Gowen- a¢counts and indepeThJent examination Inve5trrent fvnd Gharges Admin expense5 2.603 1,025 96 2,733 1.121