Charity Number 206480 ## **THE SOUTHWOLD TRUST** **ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025** **CONTENTS FOR THE YEAR ENDED 30 JUNE 2025** ## **THE SOUTHWOLD TRUST** ||**Page**| |---|---| |Legal and administrative information|**1**| |Trustees' Annual Report|**2 - 3**| |Report of the Independent Examiner|**4**| |Receipts and Payments Account|**5**| |Statement of Assets and Liabilities|**6**| |Notes to the accounts|**7**| ## **THE SOUTHWOLD TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 JUNE 2025** ## **Constitution** The Southwold Trust, 21 Field Stile Road, Southwold, Suffolk, IP18 6LD is a Charity registered with the Charity Commission (No: 206480) constituted by a Deed of Trust. ## **Trustees** The current Trustees of the Trust are: |Chairman|-|D J Gaffney| |---|---|---| |Treasurer|-|T Clifford| |Other Trustees|-|R Lee| |||M Mayhew| |||R Temple| |||R Dales| |||J Fuller| |||N Johnson| |||J Hursell| |||C Clark| |**Independent Examiners**||| |||Larking Gowen LLP| |||1 Claydon Business Park| |||Great Blakenham| |||Ipswich| |||IP6 0NL| |**Bankers**||| |||Barclays Bank PLC| |||Waveney Valley| |||Leicestershire| |||LE87 2BB| |**Investment Managers**||| |||Sarasin & Partners LLP| |||Juxon House| |||100 St Paul's Churchyard| |||London| |||EC4M 8BU| 1 ## **THE SOUTHWOLD TRUST** ## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025** The Trustees are pleased to present their annual report together with the financial statements of the Charity for the year ended 30 June 2025. The legal and administrative information set out on page 1 forms part of this report. The financial statements comply with the requirements of the Charities Act 2011 and the trust deed. ## **Objectives** The object of the Trust is to benefit by any charitable means the inhabitants for the time being of Southwold as defined by the Trust Deed. Under the terms of the Trust Deed the existing Trustees have power to appoint new Trustees. New Trustees are recruited by aiming to ensure all skill requirements are represented. During the year the Trustees have had due regard to the guidance published by the Charity Commission on public benefit. ## **Financial Review** The Trust has made donations during the year of £51,335 _(2024 - £177,227)_ which varied in size to various organisations. The cash funds at the end of the year were £20,901 _(2024 - £19,948)_ . The value of the investments fund was £1,985,963 _(2024- £1,970,300)_ . The net surplus in the year was £953 ( _2024 - deficit of £58,964_ ). Funds continue to be held to support future projects. ## **Reserves policy** The Trustees aim to maintain the capital value of reserves to generate future income and to donate current funds as they see fit. As a large part of expenditure relates to grants paid by the Trustees to worthy organisations within the Southwold area, the Trustees could, should the need occur, reduce the amount of grants paid out to help maintain funds for future use. This would leave sufficient funds to cover all support and In accordance with the Trust Deed, the Trustees may at any time expend all or part of the capital of the Trust Fund for the purposes and in the manner authorised by the governing document. However, this would only be in exceptional circumstances. The Trustees are also not bound to expend in any year the whole of the income but may retain funds for application at a later time. Therefore the free reserves of the charity consist of the total value of the monetary and investment assets. ## **Grant making policy** The Trustees as before have concentrated on making grants to small local charities where need has been established. During the year the Trust made grants totalling £51,335, a breakdown of which is included in note 2. 2 ## **THE SOUTHWOLD TRUST** ## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025** ## **Investment policy** The Trustees review the investment performance at each of their half yearly meetings. They intend that income covers the normal annual outgoings of the Trust and consider that the performance of investments managed by Sarasin & Partners LLP has been satisfactory during the current year. Approved by the Trustees and signed on their behalf by: T Clifford Treasurer Date: 3 ## **THE SOUTHWOLD TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHWOLD TRUST FOR THE YEAR ENDED 30 JUNE 2025** I report on the accounts of the Trust for the year ended 30 June 2025 which are set out on pages 5 to 8. ## **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 this report in order to enable a proper understanding of the accounts to be reached. Giles Kerkham FCA DChA Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL Date: 10 March 2026 4 ## **THE SOUTHWOLD TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 30 JUNE 2025** |**RECEIPTS**
**Note**
**Income:**
From voluntary sources:
Donations & legacies
**Investment income:**
Investment income
1
Investment account interest
Bank interest
Disposal of investments
**Total receipts**
**PAYMENTS**
**Direct Charitable Expenditure:**
Grants paid
2
Capital additions
**Other Expenditure:**
Administrative expenses
3
**Total payments**
**Net surplus/(deficit) for the year**
**Cash funds at 30 June 2024**
**Cash funds at 30 June 2025**|**2025**
**£**
**Unrestricted**
-
-
53,251
590
126
-
53,967
53,967
51,335
-
1,679
53,014
953
19,948
20,901|**2024**
**£**
**Unrestricted**
82,313| |---|---|---| |||82,313| |||54,214
782
552
-| |||55,548| |||137,861| |||177,227
18,000
1,598| |||196,825| |||(58,964)
78,912| |||19,948| 5 ## **THE SOUTHWOLD TRUST** ## **STATEMENT OF ASSETS AND LIABILITIES YEAR ENDED 30 JUNE 2025** |**Monetary Assets**
**Unrestricted Funds**
Bank deposit account
Bank current account
Investment manager's account
Total per Receipts and Payments Account|**2025**
**£**
6,568
100
14,233
20,901|**2024**
**£**
6,335
100
13,513| |---|---|---| |||19,948| ## **Other Assets** Held for investment purposes - quoted securities: |Holding|Security
Sarasin Endowments Fund
Revaluation
Brought forward
Capital additions
Carried forward|**2025**
**Cost**
**£**
1,184,000
-
-
1,184,000|**2025**
**Market**
**Value**
**£**
1,970,300
-
15,663| |---|---|---|---| ||||1,985,963| Approved by the Trustees and signed on their behalf by: T Clifford Treasurer Date: 6 ## **THE SOUTHWOLD TRUST** ## **NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2025** ## **1. INVESTMENT INCOME** |Holding
Company
1,566,217
Sarasin Endowments Fund
Total per Receipts and Payments Account
**2. GRANTS MADE**
**Recipient**
Sole Bay Care Fund
SRRDC - Southwold Cricket Club Nets
St Edmunds Church
Southwold Arts Festival
SRRDC - Saha Grant
Beccles Lions
SRRDC - Golf club
Southwold Rotary Club
SRRDC - Klondyke Skatepark
Southwold Millennium Foundation
Southwold Food bank
Southwold Gen
Southwold Museum
Reydon Parochial - Holocaust Memorial day
Southwold Trust and District Tennis Club
Southwold Sailors Reading Room
**3. ADMINISTRATIVE EXPENSES**
**Payee**
Larking Gowen - accounts and independent examination
Investment fund charges
Website fee|**2025**
**£**
53,251
53,251
**2025**
**£**
4,585
13,000
10,000
3,000
6,000
-
-
6,650
-
7,500
600
-
-
-
-
-
51,335
**2025**
**£**
1,524
111
44
1,679|**2024**
**£**
54,214| |---|---|---| |||54,214| |||**2024**
**£**
-
-
-
-
-
500
50,000
450
50,000
4,650
2,195
2,682
13,500
250
50,000
3,000| |||177,227| |||**2024**
**£**
1,440
158
-| |||1,598| 7