Coulthurst Trust
Trustee Report, 2024/25
2024/25 has been a year of returning stability for the Trust. The board has worked to bring a focus to our activities, drafting a vision and prioritising where future support should be given.
Our ongoing support to Hag Dyke Scouts and Gargrave Cricket Club continues through the refunding of rent (£1,000 and £8,000pa respectively) on the trust-owned properties they use.
The level of investments held by Gore-Browne Investment Management as a permanent endowment stands at £927,450, down from £971,628 from the previous year resulting in a reported deficit of £6,903.60 for the year. Our end of year did, however, coincide with a period of uncertainty in world markets and we are assured the value of the permanent endowment has recovered significantly post year-end.
It remains the intent of Trustees to maintain the level of investment at £1,000,000 to provide for further charitable giving in future years.
Philippa Dickens Chair of Trustees 10 August 2024
| Unrestricted | Restricted | Previous | ||
|---|---|---|---|---|
| funds | funds | Total | Year | |
| Income | ||||
| Investment Income | 42,096.63 | - | 42,096.63 | 12,001.00 |
| Rental Income | - | 9,000.00 | 9,000.00 | 9,000.00 |
| Income - Other | 892.01 | - | 892.01 | - |
| Total Income | 42,988.64 | 9,000.00 | 51,988.64 | 21,001.00 |
| Expenditure | ||||
| Charitable Rental Grants | - | 9,000.00 | 9,000.00 | 9,000.00 |
| Other Charitable Activity | - | - | - | - |
| Bank Charges | 15.00 | - | 15.00 | - |
| Professional Fees | 4,683.54 | - | 4,683.54 | 1,505.47 |
| Total Expenditure | 4,698.54 | 9,000.00 | 13,698.54 | 10,505.47 |
| Net Income / (Expenditure) | 38,290.10 | - | 38,290.10 | 10,495.53 |
| Cash at bank brought forward | 14,098.00 | - | 14,098.00 | 3,602.96 |
| Investment funds brought forward | 971,628.00 | 971,628.00 | 923,441.00 | |
| Fixed Assets (Buildings) | 360,000.00 | 360,000.00 | 360,000.00 | |
| Total Funds brought forward | 14,098.00 | 1,331,628.00 | 1,345,726.00 | 1,287,043.96 |
| Cash at bank carried forward | 51,372.40 | - | 51,372.40 | 14,098.00 |
| Investment funds carried | ||||
| forward | - | 927,450.00 | 927,450.00 | 971,628.00 |
| Fixed Assets (Buildings) | - | 360,000.00 | 360,000.00 | 360,000.00 |
| Total Funds Carried Forward | 51,372.40 | 1,287,450.00 | 1,338,822.40 | 1,345,726.00 |
| Net movement in Funds | (6,903.60) | - | (6,903.60) | 58,682.04 |
Independent Examination.
My examination of the accounts includes a review of accounting records and any unusual items or disclosures in the accounts, seeking explanation from the Trustees concerning such matters.
The opening of the CAF current account during the year has helped with day-to-day management of non-investment funds and a full year of clear statements from now forward will only make management easier for the Trustees.
The assets under management with Gore-Browne continue to perform to anticipated market levels, notwithstanding the reported loss for the financial year which can be explained by the turmoil in world markets during April 2025.
David Foulds. Charity Advisor / Independent Examiner.
14/08/25