Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 **REGISTERED CHARITY NUMBER: 207714** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2025** **for** **Sydney Dean Whitehead's Charitable Trust** Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 **Sydney Dean Whitehead's Charitable Trust** ## **Contents of the Financial Statements for the Year Ended 5 April 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Statement of Financial Position**|5| |**Notes to the Financial Statements**|6 to 9| Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** ## **Report of the Trustees for the Year Ended 5 April 2025** The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2025. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Trust is constituted under a Trust Deed dated 31 August 1946. Its objects are to apply Trust property, either as capital or income, for purposes in connection with: the relief of poverty, the maintenance and education of children whose parents are unable to provide them with an education suitable to their position or abilities; the advancement in life of such children; the payment of subscriptions or donations to charitable institutions or societies; and any other charitable objects. The Trustees meet annually, in June, to review all applications and agree those that they wish to support; they meet on an informal basis during the year to review general Trust matters. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The Trust continues to provide grants towards the education of children whose parents are unable to provide them with an education suitable to their position or abilities; for this purpose 29 grants to children being educated in the UK were made in 2025 (2024: 30 grants). The Trust also continues to support smaller local charities and 4 such grants were made in 2025 (2024:7 grants). When considering grant applications the trustees have kept in mind the Charity Commission's guidance on public benefit. With the exception of a maximum age of 18, no geographical or other restrictions are imposed on the grant applications. ## **FINANCIAL REVIEW** ## **Financial position** The Trust has an investment portfolio, the income arising from which is used to make charitable grants and donations in accordance with its objects. During the year investment income amounted to £70,015 (2024: £61,384), from which the Trust made 29 grants amounting to £48,788 (2024: 30 grants totalling £49,573) towards school fees and other educational costs for children with special skills in music and dance and 4 grants amounting to £1,400 (2024: 7 grants totalling £3,000) to smaller local charities. After deducting administrative expenses there was an overall surplus for the year of £11,329 (2024: £627 surplus). This year there has been a decrease in value in the investment portfolio, giving rise to realised and unrealised losses amounting to £48,412 (2024: losses of £54,904). The funds of the Trust have therefore decreased by a total of £37,083 to stand at £1,619,712 at the year-end. The investment portfolio had a closing valuation of £1,543,684 (2024: £1,565,243). The Trust has working capital of £76,028 (2024: £91,552) to cover future requirements, which includes cash held by the investment brokers. ## **PLANS FOR FUTURE PERIODS** The Trustees intend to continue to use the annual income arising on the investment portfolio to support artistically gifted or needy children, mainly through the payment of school fees, and support other charitable causes. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Trustees** The Trustees are appointed in accordance with the provisions of the governing document. ## **Reserves policy** Although there is no fixed Permanent Endowment, the Trustees treat the amounts held as investments as though they were unexpendable capital, and aim to distribute the income arising each year. ## **Investment policy** The Trust's investments are professionally managed, with a view to balancing capital appreciation and income. ## **Procedures and policy for Grant making** The Trustees meet once a year to consider what grants they will make and to review any feedback they have received. Potential beneficiaries are invited to submit an application form for funding. The Trustees always seek feedback on the actual use of the grants given and the achievements made. Page 1 Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** ## **Report of the Trustees for the Year Ended 5 April 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management** The Trustees have considered the major risks to which they feel the Trust may be exposed and have taken actions based on this assessment to ensure that appropriate measures are in place to deal with such risks. The chief risk concerns levels of investment income, which the Trustees mitigate by using professional investment managers to implement their investment policy; grants are not made for a period of longer than one year so there are no future commitments. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 207714 **Principal address** Lennox House 3 Pierrepont Street Bath Somerset BA1 1LB ## **Trustees** Mrs A S Prebensen Mrs J Clarke A Clarke H Clarke C Latham (Appointed 25 June 2024) ## **Independent Examiner** Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by: ........................................................................ Mrs A S Prebensen - Trustee Page 2 Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Independent Examiner's Report to the Trustees of Sydney Dean Whitehead's Charitable Trust** ## **Independent examiner's report to the trustees of Sydney Dean Whitehead's Charitable Trust** I report to the charity trustees on my examination of the accounts of Sydney Dean Whitehead's Charitable Trust (the Trust) for the year ended 5 April 2025. ## **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 Act and in carrying out my examination I have followed all 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; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached. Tom Case Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY ## 24/06/2025 Date: ............................................. Page 3 Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** |**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Grants to Individuals
Donations to Organisations
Support costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Statement of Financial Activities**
**for the Year Ended 5 April 2025**
Notes
4
5|2025
Unrestricted
funds
£
70,015
48,788
1,400
8,498
58,686
(48,412)
(37,083)
1,656,795
1,619,712|2024
Total
funds
£
61,384
49,573
3,000
8,184
60,757
(54,904)
(54,277)
1,711,072
1,656,795| |---|---|---|---| ## **CONTINUING OPERATIONS** The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes form part of these financial statements Page 4 Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** |**Statement of Financial Position**
**5 April 2025**
Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds:
General fund
Designated Investment Fund
**TOTAL FUNDS**|2025
Unrestricted
funds
£
1,543,684
93,999
(17,971)
76,028
1,619,712
1,619,712
76,028
1,543,684
1,619,712
1,619,712|2024
Total
funds
£
1,565,243
110,999
(19,447)
91,552
1,656,795
1,656,795
91,552
1,565,243
1,656,795
1,656,795| |---|---|---| These financial statements were approved by the Board of Trustees and authorised for issue on 23 June 2025 and were signed on its behalf by: ............................................. A S Prebensen - Trustee The notes form part of these financial statements Page 5 Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 **Sydney Dean Whitehead's Charitable Trust** **Notes to the Financial Statements for the Year Ended 5 April 2025** ## **1. GENERAL INFORMATION** The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is Lennox House, 3 Pierrepont Street, Bath, Somerset, BA1 1LB. ## **2. ACCOUNTING POLICIES** ## **Basis of preparation** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Disclosure exemptions** The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. ## **Incoming resources** Income from listed investments and bank interest is recognised in full in the statement of financial activities when receivable. ## **Resources expended** Expenditure on grants and donations is recorded once the trust has made an unconditional commitment to pay the grant and this has been communicated to the beneficiary. The trust does not make any grant commitments of more than one year. All other expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is probable the settlement will be required and the amount of the obligation can be measured reliably. ## **Investments** Listed investments are measured at fair value, being market value at the balance sheet date. Changed in fair value are recognised in the statement of financial activities. ## **Taxation** The trust is a registered charity and accordingly is exempt from taxation on income and gains where they are applied for charitable purposes. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **3. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Page 6 continued... Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 5 April 2025** ## **4. INVESTMENT INCOME** |Income from listed investments
Bank interest|2025
Unrestricted
funds
£
69,618
397
70,015|2024
Total
funds
£
61,023
361| |---|---|---| |||61,384| ## **5.** ## **CHARITABLE ACTIVITIES COSTS** |Grant
funding of
activities
£
Grants to Individuals
48,788
Donations to Organisations
1,400
Support costs
-
50,188|Support
costs
£
-
-
8,498
8,498|Totals
£
48,788
1,400
8,498| |---|---|---| |||58,686| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Grants to Individuals
Donations to Organisations
Support costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
61,384
49,573
3,000
8,184
60,757
(54,904)
(54,277)
1,711,072
1,656,795| |---|---| Page 7 continued... Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 **Sydney Dean Whitehead's Charitable Trust** **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **8. FIXED ASSET INVESTMENTS** ## Other |2025|2024| |---|---| |£|£| |1,543,684|1,565,243| The above portfolio includes assets outside the UK totalling £23,603 (2024: £5,768). The historic cost of investments at the year end is £612,054 (2024: £653,032). The following investments account for more than 5% of the market value of the portfolio: |M & G Securities|£234,031|15.16%| |---|---|---| |London Stock Exchange|£157,145|10.18%| |Experian Group|£107,118|6.94%| |Compass Group|£98,141|6.36%| |Astrazeneca|£89,274|5.78%| Investments (neither listed nor unlisted) were as follows: |Valuation brought forward
Additions
Disposals
Fair value movements
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 6.4.24
£
**Unrestricted funds**
General fund
91,552
Designated Investment Fund
1,565,243
1,656,795
**TOTAL FUNDS**
1,656,795
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
70,015
**TOTAL FUNDS**
70,015|Net
movement
in funds
£
(37,083)
-
(37,083)
(37,083)
Resources
expended
£
(58,686)
(58,686)|2025
£
1,565,243
73,687
(46,834)
(48,412)
1,543,684
2025
£
17,971
Transfers
between
funds
£
21,559
(21,559)
-
-
Gains and
losses
£
(48,412)
(48,412)|2024
£
1,646,619
30,663
(57,135)
(54,904)
1,565,243
2024
£
19,447
At
5.4.25
£
76,028
1,543,684
1,619,712
1,619,712
Movement
in funds
£
(37,083)
(37,083)| |---|---|---|---| Page 8 continued... Docusign Envelope ID: F2B664A0-1B03-4F1F-BAED-C51EF46CB103 ## **Sydney Dean Whitehead's Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **10. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
Designated Investment Fund
**TOTAL FUNDS**|At 6.4.23
£
64,453
1,646,619
1,711,072
1,711,072|Net
movement
in funds
£
(54,277)
-
(54,277)
(54,277)|Transfers
between
funds
£
81,376
(81,376)
-
-|At
5.4.24
£
91,552
1,565,243
1,656,795
1,656,795| |---|---|---|---|---| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|61,384|(60,757)|(54,904)|(54,277)| |**TOTAL FUNDS**|61,384|(60,757)|(54,904)|(54,277)| ## **11. RELATED PARTIES** There were no transactions during the year with the Trustees or related parties (2024: None). Page 9