THE DORIS BOUGHTON TRUST FUND (Registered Charity No. 210324) REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2025 TC GROUP CELIXIR HOUSE STILITFORD BUSINF.SS & TECHNOLOGY PARK INNOVATION WAY BANBURY ROAD STRATFORD UPON AVON WARWICKSHIRE CV37 7GZ
THE DORIS BOUGHTON TRUST FUND REPORT AND ACCOUNTS CONTENTS PAGE Trustees and Advisers Trustees and Management Committee's Report Indep¢nd¢nt Examiners. Report Statement of Financial Activities Balance Sheet Notes to the Accounts 7-10
THE DORIS BOUGHTON TRUST FUND TRUSTEES AND ADVISERS CUSTODIAN AND INVESTMENT ADVISOR Evelyn Partners 103 ColmoTe Row Bimiingham B3 3AG TRUSTEES B Singh Nagra- Chaiml - appointed as a Trustee on 18 October 2023 and appointed as Chairman on 17 January 2024 C M Bowden R Sparkes B Smart T D Williams A Shurvinton KEY MANAGEMENT K Miles C Shaw- Administrator & Treasurer M Wilcox - Treasurer (resigned 31107/2024) INDEPENDENT EXAMINERS TC Group Celixir House Stratford Business & Technology Park Innovation Way Banbury Road Stratford upon Avon Warwickshire CV37 7GZ BANKERS Barclays Bank plc I Churchill Place L¢icester LE87 2BB ADDRESS: 39 Admington Drive Hatton Park Warwick CV35 7TZ
THE DORIS BOUGHTON TRUST FUND REGISTERED CHARITY NO. 210324 TRUSTEES, ANNUAL REPORT The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out on pag¢ 7 and comply with the Trust Deed, the Charities Act 2011 and"(FRS 102)" AcwulltÈng and Reportiug by Charities: Statement of Recommended Practice applicable to charities prep&ing their accounts in accordance the Financial Rq)orting Standard applicable in the UK and Republic of Ireland effectiv¢ l January 2019. Structure, Governance and Management The Fund was established by Trust Deed on 26 September 1949 and is governed by the Trust Deed between Edward Bishop Boughton and Barclays Bank TTUSt Company Limited the Custodian Trustee. On 6 September 2001, 8 January 2014 and on 20 April 2015, the Charity Commissioners approved a scheme to amend the original Tnt Deed Éo reflect the future structure of the Trust and discharge BarLlays Bank Trust Company Limited from its tteeshIp appointing the members of the existing Conunittee in their place. Public BenefRt The tnLStees confimi they have complied their duty und¢T section 4 of the Charities Act 201 l Èo have due Tegard to the CharÈty Con]mission's general guidance on public benefit. Objectives and Aetivities To maximise the income to the Fund to give financial assistance to employees and ex employees (including their dependants) of Whitn&sh PLC (fomierly Automotiv¢ Products PLC} together with the continuing businesse5 which were UK Subsidiaries of Automotive Products Group Ltd at any time up to 31 December 2006, who are, in the opinion of the Trustees, in need of such assistance. The TnteeS have given consideration to the Charity Commission's general guidance on public benefit when reviewing Éts aims and objectives. Aehievements and Perforniance Grants totalling £29,715 were made to 32 beneficiaries during the year (2024.. £24,500 to 40 benefickaries). Financial Review Thc Statement of Financial Activities on page 5 shows net outgoing resources for the year of £2,773 (2024 net incoming £9,620). The change in the value of the Fund due to recognised losses on investments during the year was £77,207 (2024 recognised gains £54,724) making the total net movement in th¢ year a decrease the Fund's assets of £79,980 (2024: increase of £64,344). Investment Report aud Perforniance The Investment Managers aim to manage the funds so that they geneTate suffi¢ient income from the it]vestments to maintain current benefits whilst also nIntainIng the Teal long-term value of the investments to support the payment of future benefits. The investment income for the year deereased by £4.500 (7.65 /0} due to the general decrease in dividends and int¢st rates in the year. The value of the investments fell by £1 01,199 to £1,625,58 Iwhich was a slight underperformance compared to the bencbmarks used by the investment MIagCr$. The trustees are now meeting annuakly with the investment managers to review investment str>Ltegy and make any changes as deemed necessary to improve overall perforniance whilst mitigating risk.
THE DORIS BOUGHfoN TRUST FUND REGISTERED CHARITY IYO. 210324 TRUSTEES, ANNUAL REPORT Reserves Policv It is the policy of the Clwity to nIntrIn un¥estri¢ted funds at a level which provides sufficlent funds to Cover nnagement and adrninistration and support costs to respond to applications for grants. Unrestricted fidS were matntained at this level throughout the year. Responsibility of the Trustees in relation to the financial statements The Charity trustees are responsible for preparing a trustees, annllal report alld financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trusteels) to prepare financial statements for each financial year which give a true and fair view of th¢ ¢h8rity'S financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a tru¢ and fair view, the trustees should follow best practice 8nd: select suitable accounting policies and then apply them consistently. observe the methods and principles Én the applicable Charities SORP. make judgements and estimates that are reasonable and pnjdent. state whether applicable accounting standards have been followed, subject to any material departUTes that must be disclosed and explained in the financial statements. prepare the fin3CIal statements on the going concern basis unless it is inappropriate to presume that the charity will continu¢ in operation. The trustees are responsible for keeping accounting records that disclose Npith reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applkcable Charities (Accounts and Reports) Regulations and the PTovisions of the trust deed. They are also responsible for safegu8rdÈng the assets of th¢ charity and taking reasonable steps for the preentIOn and detection of fraud and other irregularities. Approved by th¢ Trustees and signed on th¢ir behalf by.. Signed.. B SINGH NAGRA Chairman Approved by the Trnstees on.. Dat¢:
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE DORIS BOUGHTON TRUST FUND I ieport to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2025 which are set out on pages 5 to 10. Responsibilities and basis of report As the charity's trustees you are responsible for the Preparation of the accounts in accordance with th¢ requirements of the Charities Act 2011 ('the Act,). I rep)rt in respect of my examination of the charity's accounts carried out under section 145 of the 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. The charity's trustees consider that an audit is not iequired for Ihis year undeT section 144 of the Act and that an independent examination As needed. Independent examiners, statement Your attention is dra} to the fact that the ¢haTity has prepared financial statements in accordanee with Accounting and Reporting by Charities preparing their ac¢oLmts in accordance with the Financial Reporting Standard applicable in the UK alld Republic of Ireland (FRS102) in preference to the Accounting 2nd Reporting by Clwities: Staternent of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this h&$ been done in ordeT for financial statements to provide a trne 8nd fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015. I have completed rny examination. I confiL7n that no material matters have come to my attention in connection with the examination giving me eause to believe that kn any material respect.. accounting records were not kept in respect of tbe charity as required by section 130 of the ACÉ- or 2. the accounts do not accord with those records" or 3. the accounts do not comply with the applicable requirements concerning the fonn and content of accounts set out in the CILarities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tru¢ and fair view, which is Thot a matter considered as part of an independent examination. I have no concerns and have come acTOSS no other matters in connection with the examination to which attention should be draTr this report in order to enable a PToper understanding of the accounts to be r¢ached. Zs Certificate Date............ ................ TC Group Celixir House Stratford Business & TeCTr00gY PaTk I0VatiOn Way: Banbury Road Stratford upon Avon, Warwickshire CV37 7GZ
THE DORIS BOUGHTON TRUST FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 2025 2024 Notes Ineoming Resources Investment Income 54,327 58,827 lThterest re¢¢xved 495 39 Total Income 54,822 58,866 Resources Expended Investment Management Costs Charitsble Activtti¢s Governance Costs 12,554 29,715 15,326 11,770 24,500 12,976 Total Expenditure 57,595 49,246 Net incomel(expenditure) before investment gain5 and losses (2.773) 9,620 Profit l (Loss) on sales of Investments Gains/(losses) on Invcstments 17,508 (94.715) (8,235) 62,959 Net Movement in Funds (79,980) 64,344 Reconciliation of funds.. Total funds brought forward as at 6 April 2024 1,759.664 1,695,320 Total fimds carried fonvard as at 5 April 2025 1,679,684 1,759,664 The notes on pages 7 to l O fonn part of these accounts.
THE DOIUS BOUGHTON TRUST FUM) BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Notes FIXED ASSETS Managed Fund Investments - 1,625.581 1,726.780 CURRENT ASSETS Cash at Bank 65,828 42.828 65,828 42,828 CREDITORS: Amounts falling due within one year 11,725 9,944 NET CURRENT ASSETS 54.103 32.884 NET ASSETS 1,679,684 1,759,664 FUNDS OF THE CHARITY Unrestricted Funds 1,679,684 1,759,664 Approved by the Committee on 23 (Chainnan) . (Tr¢asuT¢I) B SINGH NAGRA C SHAW
THE DOIUS BOUGHTON TRUST FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 BasK$ of Accounting The financial %t2teTnents have been prepared in accoTdance with the ChaTity'S Trust Deed, the Charilies Act 201 I, FRS 102 "The Financial Reporting Standard applicable in the UK and Republtc of Ireland"("FRS102") and the Charili¢s SOIiP "Accounting and Reportkng by Charities: Statement of Recommended Practice applicable to ch&ities preparing their accounts in accordance with the Financial Rcporting Standard applicable in the UK and Republic of ITeland (FRS 102)" (effective l January 2019). The charity is a Public Benefit Entity as detEned by FRS 102. Thc financial ststements have been prepared under the historical cost convention with the exception that investments are included at market value. The clwity constitutes a public benefit entity as defined by FRSI 02. The trustees consider that th¢re are no material uncertainties about the TNst's ability to conlinue as a going concem. Accounting PolicÉes a) Incoming Resources All incomillg resources are recognised once the Charity has ent7tlementto the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. b) Resources Expended Expenditure is recognised on an a¢cntal basis as a liability is incurred. Expenditure includes irr¢¢ov¢rnbl¢ VAT and is reported as part of the expenditure to which it relates. Grants payable aTe payments made to third parties in the furtherance of the charitable objectives of the Trust. The grants are only recognised in the account5 when a committnent has been made and there are no conditions to be met relatÈng to the grant which ren1n in the Charity'5 control. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. e) Fixed Asset Investments Investmcnts are stated at market value as at the Balance Sheet date. The statement of fInanei21 activities includes the net gains attd losses arislng on revaluation and disposals throughout the year. d) Realised Gains and Losses All gains and loss¢s aTe taken to the statement of financial activities as they arise. Realised gains and Ios8es on investtnents are calculated as the diffeT¢nc¢ between saje proceeds and opening market Viilue (Purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the end of the year end and opening market value (or purchase date if later). Realised and ILnrealised gains are not separated in th¢ Statement of Fknancial Activkties.
THE DORIS BOUGHTON TRUST FUND Tr40TES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 (ConliF7ued) ¢) Charltable Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitsble activities. 3. Charitable Aetivitkes 2025 2024 Grants of financial assistance to individuals 29,715 24,500 4. Analysis of Governance Costs 2025 2024 Salaries & National Insurance Independent Examiners, Fee Accountancy Stationery and Postage Professional Fee Other admin Expenses 12,150 1,069 1,559 iio 10.431 907 1,368 59 438 211 15326 12,976 S. Trustees, Remuneration and Related Party Transactions The following Key Management received salaries and expenses during the year. 2025 2024 Salaries: M Wilcox C Shaw D Reatb 1.518 10,059 309 3,53E 6,900 11,886 10,431 2025 2024 Expenses.. C Shaw M Wilcox 138 137 109 275 109 No otheT Key Management OT Trustees received remuneration OT expenses. The averag¢ number of employees dwing the year was 2 (2024: 2).
THE DORIS BOUGHTON TRUST FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APIUL 2025 (Conlinued) 6. Fixed Asset Investments 2025 2024 Market Value 6 April 2024 Add.. additions to investments at cost Less: disposals at m8Tket value Add.. net gairL I(loss} on revaluation 1,726.780 593,171 (599,655) (94,715) 1,673,535 59,814 (69,528) 62.959 Market Value 5 April 2025 1,625,581 1,726,780 Historical Cost of Manag¢d Fund Inv¢stm¢nts £ 1,591,606 £ 1,425,730 The Trustees have given the Investment Advisers responsibility for the Management of the InvestmenÈ Portfolio in accordance wtth an investment approach agreed by the trust¢¢s. 7. Creditors 2025 2024 Amounts falling due within one year: Accruals Payroll Tax 11,163 562 9,503 441 J 1,725 9,944 8. ReveDue Reserves The funds recognised as Revenue Reserves at 5 April 2025 were £163,819 (2024.. £158,083) and it is confirmed that there are sufficienl funds available to cover fluctuating levels ofrequests for support, which may exceed a single year's incorne, for the foreseeable future, in line with the policy of the Trust. 9. Taxation The charity is exempt from laxation on its activities because all its income is applied fo Chitable purp)s¢s. 10. Managed Fund Investments
2025 2024 Government Securities Fixed Interest Indexed Linked UK Equities Unit Trust Property Funds North America Europe Far East Rest of World 189.612 166,010 57.113 221.295 246,792 47,013 116,624 248,081 74,132 150,661 386,656 464.659 192,856 104.633 91,277 32,310 184,483 378,154 1,625,581 1,726,780 io-