THE BQUGHeY TrUST COMPANY LthIITED Chartty r•gi$lr4tion numbor 215056 IEng1ond and Wales) Company r•ghtrntlon nwnb•r00325196 ANNUAL REPORT AND UP&4UDITED FINANCIAL 8TATEMEpirs FOR THE YEAR ENDED 31 DECEhlBER 2024
THE BOUGHEY TRUST COMPANY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION TnteE# Mr G Foslor Ictdmwnl Mr M Pit¢hlofd Chalmianl Mr E A Davigs Mr C IA Ingram IATA Rumbles M$ E R Funddl MIS R Bwton Mr K R Brotherton Mi P M A Da¥id8on Sa¢rfjtary Ihsh Stokes Ex Offi¢k> Tru•ts•• The Headmaster of Haberda5hus AdamB GraMffl Sthool Th• R8Ctoi of Newp(rft Councl RepresenlatNe Gharlty Mmber (England andW•l••) 219)58 Company number ¢J0325195 R•gi8tsrnd offi 1 Brassey Road Olj Potts Way Shrewsbvry Shropshire SY3 7FA Ind•pnd•nt MInI1 Dyktr ytry Limlted 1 BY88sey Road Okl Pottg Way Shrewsbury Shropthte SY3 7FA Bank•r5 8wclays Bank Pk 23 Churth Slre¢t TelloTd Shropshire TF1 1DQ Solkltorn Clarkes Soldor5 LLP Central Squarè Telford Shropshir TF3 4JL
THE BOUGHEY TRUST COMPANY LIMITED CONTEtrirs P•g• Chaimwn report Trustees. Rport Indepèndent examlnerfs report Stslement offinandgl o¢lvitse8 Bnee sheel Notes to the finahebl ststents 9-16
THE BOUGHEY TRUST COMPANY LIMITED CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEhlBER 2024 Achlevements and Perfomkince l arn wrlllng thls flnal report thg Tru o¢co. by the tlmo11 Is published l ha st()d dry¢m •$ ch•m)•n of th& Trust after many enjoyab years 48 Chalnnan. I must on¢e 89•ln say thal over the past yeaT the Trvsl ha¥ C&tInued tts fvnthon ¥moolNy. ffetlng regularly. wllh the nff4 mefflbeTs contrl)ullng to fv $mth rumiig of IheTnJst. l Jm Swe the new ¢halm)8n knoath•rwlh h1$ offerS wlll farry on 1he good work 11)81 do for c4Jrlow We ntInue 8$ • Trw41 to be responsfjble LqndbrdG.' Q)ntinvalty reinvestln9 and m•lAt8knlThJ our property portfokn to high rnntab 6tandard, whilst also allocalin9 grants to ow3nlsallons hare In Nowport and ow IoUnding dlstrlct. We are stlll trylng as a Trt to iThc¥ease th?1gv815 tsfawad communrty grarls.. thowjh we know thw• is o 8galn. 8 long way to go to W the mssage to the Newport Communiiy that we Can hesp finaTrialty. I would Ilk• to put on record once agaln my 8irKer8 thank¥ its ¥1 ow Trust members for their valuabfe support over the last 12 months. and espwth to our eonlractor8, who have agaln ¢anled oul T1$ and maintenaThx to n8bl8 lh8 properfes * bo moknianèd to a vèry 6tsThJardB and k•ep ourlenants safv d comfortab I would also finally lik¥ to otKo agaln express my skncre thanks io Mrs. Anngtt¢ siok45. ourTwst seuetary. for her ntinukng 1horoughnes8 and due dUyn¢e r•o¥dh)g bune$s 8nd for heT SUPPOrt aTrJ dlrectim $t ho8 glven m8 4$ ¢h4lmn over th• years. Th&Tnt is now futy StsN8d by trustees and we hckl meelirq¥ th Suffidl members at e&h and ew meeting. Cancdling è meelhg. due to Ml bethg quorat¢.1g now a thlng of Ihe past. As I've mentioned in prpvious repotts, fv age ofthe propwbes thè Trust owns has meant Ihal there is stll a conllnual roquirgrrftnl for inv4slmtnt to mainlaln their Int8grty and glso sc4viro mainten8nc• l$su•SWhh tenants in9 lo our attenlson. Thls ccffitSnual Investment in malntsnan¢e ma£ we stlll have a sieady Ino)me of fvnds du¢ to the integrdy of our Portfelio. The properbeswe 51111 prowde a d¢r#ble r8rt81 porifolio for reshlents who w16h to I0 and work here In Nwort. It L8 sllll Chetsvynd H¢YJ8e, Ihe Nursery. the Tonni6 dub whith sll requlre repairs due lo Ih8ir agè and nstrudion.. Wbth regular maintenance- inckMINig pbmL4np. rtsofing issues, decoration. repFacemenl l¢ourt surfaces) and also damp In Ihe bu51dS needirvJ attenlon. I musl add that due to prévtous yèars, r•palr6 tytt Trnst. seem to be spenthng less ropows &$ we are 9etting on knp ofissues. Since my last report, due lo Ihi$ iAu¢ased expenditure on older bulldings , il Is a firm wish that Tntst look 8¢ri¢usly at sellng Cheivrynd House and TinVtr thè ¢gpttal In newer properties 1¢h reguwe Je$8 maTrntgn¥nc. I am sure in the n•xl y••rthè Tntstwlll explcfe thls fijrther. In ret olthls d8d$b)n. I musl rewt that the Trust h8$ 1)w) apwo8ch8d by a prcy8ty devebw who Is looking al purch#slng ts actsss road to thè pioperty. This will enable the dev•bper to open up a land locked fiehj lo the re8r of the property for devek)pmwrt.11 would ¥ls¢ m88n Ihat the developer hag to purchase a COUF49 of th• buThgahM from th•Ann8belle Laty BcvJhey Twstto 98in ttys a¢e•ss. I must also now report thai we arè ¢ontinuinotowork lavourably with both the tennis and the Newport terary Inslitulg in ordtrr lor t Tennls Club lo run its own Jtsrs. We continue lo di$¢uss thls wlh the TeMi$ club l)thng had nurnerous mttlngs, fA)nduding with a heads ofte8 agreernent and bglng ¢b8e lo drrj up a lease whth wil shorfty bo forwarded to our sollcitor¥. There is Still 8 prObM w41h Ihe land ncl belng regisl¢rtd tha land registry. 8$ 8r8 & nttrmber of our properties. This is somethlng lCh ¥r• now actwy sorflng out Ihrough $oIKttors. The p1&c¥Mont uf the Tennks courts surfartrs t*lll b6 rnquired this year. This 19 sometlwn9 w•wll be heing the tennis club wth Ihrough a granl from the Trusls held funds uslng Mole$ hekj Ihdrtsnnis club ¥¢¢ounL 50% oflhe wort will be paid lor by the Tennis dub as w our agreemenL
THE BOUGHEY TRUST COMPANY LIMITED CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 menlloned we are wishing for th• dub t¢ more 8eW-rellant aThJ ab to gen8f8te lis own funds lo cVer all ils njnning costs. Th¢ dub is now paying fortheir M wgtsrand ekn1dty usage until wè reach an agr¢¢menl over a To h&lp tho club with thls mow we as a Trust have a sub ¢om)rttee cons151ing of Mr Rumbles. Ms FUle1, Mr Broiherton, MT Dad$on. Ar trIfWho sl on the Tpnnis Club'8 management crrtnmittee. this gNes theTnFSt voice on formkng a lease and also a direct lknkwith the daylo day runnlng ollh9 dub and ill ageMent. Therè are a number oflssues regarding asS and car p&rking DTI Ihe 8dl•e•nt Jand couses The LIt¢ry problerns, th¢ugh w¢ ore n¢)w dosè to a mutualty a¢p1&ble agrpern8nt. The'Pop w. room as prÉAousty menliDnÈd In my reports was decoralwj 8 number ol yew¥ ago. Ihrough thè Installat of 8 sensor controlled heating control and InsulaliDn. This makes the rtsom a more deslrabk meelkng room. offering the Trust occasional rent81 opportunthes Irtyn weddlng5 though thls has proven lu be diffKuII du8 to the ovelheads kjr Ihe Coundl lo manage. It is u$ed occastonalty for m•8tings, And for communlly groups get together. I b•fieve it Is still being adv•llsed on our Tnts webslle for hirs. Thls continues 19 bgnarrt in • redtIon on our eledri¢ blll used lo heal the room and help ¢0 Cover sts. It must also be noted that the coffee FKTrP In moming is stll in operalion an a Friday. I musl ce agan offer my th8nks onc agaln loAnnette lor managlry thi$. Longford playgroup ecfiiinues to $UII be a very 8u¢¢e$slul venture Eft ong of our other ptgpBrb•s. The nUry is very sell r¢ll8nl ¥th regd5 ILI fftanaging a number of their repAirs lo th• property, thjgh we Still aetively enwuiagg th• nurs8ry lo stek thè Twsts help. We often gr4e Ihe nursery retr¢$p¢the granls forwDrKIW ha wlthoul our supwt. This is orKo again vgry t>)mmendablo. The TN$t COnn9$ to r•nt out of the Car spaces on the hlgh street n8xt to th6 'Bod ba¢ as an enhanced sèaling area for guests who use the pub. T1¥6 enhan¢g$ the streef5 $ts. The ttage attached to Ihe Bod is now renl•d to a pfvats lenont. whi151 th• garage 8dj&ert 1$ $bll ronled out by the local foDd bonkfor stOTa9e. Th$ Youth Centrè at Ulleshall 15 now a tot furlher dovm the road to havlng a lease drw•m up forthe propety to be handed ovar lo The Scrxrts movem¢nt on a'pepper cum rrt". This will alIlate the ri8k of finane4al Penal?9 4galn6t the Tru$tfor repairs and mainlenance. Oursefves and thelr trustees have Solicliors currenUywoFking on this. son kst year. repBits have b8en undertaken on the buiklings slnKivr¥l intsgrlty ready lor rt t¢ be handed over. The fFusYs website ¢ontlnu88 lo promote us to focal ro5idents in arKI around NeYPOrt, pro¥lthng a pl8tl)mi for granl appltcalh)n and 8 vehKle lo c•brate 8WaTd$ to Ihgwidèrcommunily. Th15 website still offers a moans for1al groups In the14)wn to acx88s grnnts to supwt Ihpir woth- this continues to be well re¢eNed and a valuablg tool in promting the lo N&w?ort r•sidents both now and In Ihe fvture. We v)ntinuaUy revlew thtr websrte. and wè 8re golng to usè F4bOok to promot• Trusl in thè futwe. We as 8 Trusl have awardod a number of9ronls during the year induding ones lo'._ Newort Flr8t Responders. Newport st George's Day. the Carnlval, Cottag• Carg Hospital, ¥aDuS sport3 dubs Sn the town, ChLFreh Aston Village Hall. The Navy cfub, ek. Plans forthe Fulurg The YoLrth Centre in Laleshall is Still golro througfv the wocess of leq8lly being leased lo ts Scouts rTr)vomnl,' as I MentIced theie has been lundlng Prowldèd foi upgrades and repalrs to the buildings Ai order for this kj be )mpig10d. We arg ab¢ 11 working ev after a yearlo Tgsofve with thelond reglstry reg8rdlng land n•xi to Ihb lenrds club, which w¢ owned and has been dewelopod. ragbrding Comralon for th¢ land. AB I c¢nUNalty report there YAII be o ¢on6tanl need for orrfjng repairs and geneTrl m8lnten8rsce wort du8 to the ag& of the Twsl's pfoFrtles. This may lead to us looklng 81 regtruduring our portfolk*. selling some. and tslnvestln9 In nwr one$ so as to cut d¢ywn on malntenan¢a costs and a thain on our fvnds. In shortterrn thè construction typo and $t•d Iconstnrntion area status of tyjr buildings may slll mtr•n that some cspilal exp8nditure be requlred.
THE BOUGHEY TRUST COMPANY LIMITED CHAIRMAN'S REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 ThefinancLg1 posluon of the Trust corlinu$$ to be ¥n¢ow8glng. thwgh money has had to te tran8ferred irrto our da1 Acwint to manage our day to day li8bilrtie& This. tcrfJèthar with our long tem) investments, the move lo ITansferthtr I¢Mls lo managing lis finances. n5tsrrin9 the Llle5h811 youth dub over lo th& scouts. the seling of Chewnd end the Wing ofa nÉw pmpeity prytrcllo wll he* considerabty cement Iht TntytÈ long tèmi fin8nLy&I futum. The Trust still strfveB to award grants seèkkng yèarty to dlBfrlbute approxlmatety £8-10,OQ) to dLth, ¢y98ni$¥b'on$ and sopths ift Newport fyom 0 Inrxjmes. move lo a rnore enhanced webslle. And with further use of SocAal media such as Focebook. will help promotè an(J advertise the Trost. ThY6wII cont¥iuB to holp u¥ hit ourl•rgel of ardSn9 lh• grants, supportw groups and 8rKieties here in N8wporL 11 only goes for me fjnalty to pul on record my sincere thanks to aff t trnstees. both pa818nd present, Annette our secretary and also lo the of Newport for your support oveT the years I have been in po818s cMn. l am sure tho1 the Trustwil conlknuo tts $eNe the of Newrort fgeratiOTrs to come. Thankyou. rahaTh Foster ¢h•lnnan
THE BOUGHEY TRUST COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Truslees $&nI theIrUl1 T¢port Iftd IlnanrAal stat8montsforthe yoorofKlgd 31 CamboT 2. The fman(ial statÈnwrt5 have been pr•p8red In (rd wlth the a¢c%>unllng pollags out in not¢ 1 to the nanrial statements •ftd cMPlY wrth the Tru5t% govemin9 do¢urnent. the Companies Acl 20D6 8rKI 'A0utn9 and Reportin9 by Ch81ities: Statement of Recomrnendod Pradke 8ppI(¢8bfe to chatibes pr¢pAring th•ir ¥runts in p)[dall wlth Ihe Finafi¢kn11 Reporting Standard apPlIb h) the UK and Republ of Irelpnd (FRS 102)" <•fftcti¥e 1 Juary 2019). Sir Thoma$ Btsughey died on 30 August 1906. By hls wlll he leii the 8gry Mow In Newport, shrop51 to Lady Annabo118 Bou9hey on trust for her to establish a Injst for promoting the heollhy and beneficAsI eccupAon of the inhabitant¥ tsl Newport and Dktr. By 8 TnL8t Deed daled 15 OCtor 1K16, Lady Bough¢y eslabSshed lh& Trust in accordanco wjth her late hLband's wishès. In 1937 the Tw5t was ¢0Orated 4$ 8 eompany by guarantee and it w•¥ subsequentty approved by the Lord Ch8nCer eg a Tvust Co•raon enllng li to hold Pro to olheT trusts and organlsBtions as custcll tee. Objoctlygs and a¢tiviti•s The objec18 of Ihe Trust are as dèttrbgd in the intFodudion. The Trusl¢es hcld investr))ènts and prq)erty and appty the Sncome geTreTat8d by these a5S•ta to m8king giant lo other organi8alion$ ift Nowport ord the surroundlng area. han9 particular regard lo promoting the he8lth and welkbeing of the inhabttanls ol Nèwport and surTpundin9 •rÈas. The Truslees wll eonshler application$ from suitabl? institutK)ns and otyanlsalon6 at any Jme. but, 8ubjef lo han9 8uffK4entffinand81 resour8. the tfustèès aclively seek appUrstlDrts every [through the local p5$. PublK The TN$lees have Pa regwd to wl(1gnce issued by th¥ Ch8rlty CCffl¥8S1on In deddlng what adknties I Twst thoukl undertake. A¢hlev•m•nts and perfonnans• Synificanl 8¢ttvili98 and 8¢hIgments against obi8ctiV8S The Chairman has inrjuded a slatement ofA¢tyeTrAments ontl pthY0MMn their repNI. Finandwl r•vlgw ReseJvÈspollcy It is the polw of th9 Trusl that unRslrided lunds which nol been designated for a spe(xnc use should b¥ maintainèd at a level e4uivalènt to btheen three ond slx rncnth'$ expandrture. The Tt985 conskler th81 reserves al Ihk% level will gnsure fhat, in Ihe ev¢trt of a sbjnifirant drop in funding, they be atrAe to continue Ihe Trv¥V$ current actmts'es whlh ¢onYderalion is gl¥en to WAYS in wlic41 ¥dditk)nal fund8 may bg iai$od. Thi$1ovd of r8serves has been maintain•d Ihrou9hout lh¢ year. As al 31 December 2024. th8 charitys levèl of free resem8 Stands at £556,75612023'. £518,821>. Fw r•seNe8 Èrè cakwlated as total unrestri¢ted lunds. exdLKJing ony unrestrided ld5 tiod w) in t¥nglblè ffixed a¥sts. The trustees ¢onsider thi$ sutfi¢ienl to cxjveral lèast 12 monlhs expendilure. The caulat)n is 08 ftsllLIWS'. Total Unrestrfcted Funds.. £1,683,836 Less.. Unr951ricled Fund$ Invèsted in Fi¥edAss•ts'. £l1,127.0801 Free ReseNès'. t556,756 M8iorrisks The Truslees aMu8lly fèvlew the maiw risks to whl¢h the tfugt 15 exposed and the p¢lk*s. practices 8nd proc•dure$ place to mthgate those risks. ere appropriattr, the Inlee6 take out Insurance pofirie$ to counter sks Klethified and use profe88ion81 managevs to manage their 8SSet
THE BOUGHEY TRUST COMPANY LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 stN¢tur•. weman¢e and manag•m•nt The TnJst15 a cornpany limiied by gu•r¥nt¢e der numb9100325195 and as a charmy Ihg ol Charity of Dame Sarah Annabella 8oughey, chaiiiy number215056. The Trustees, who are also the dir¢¢lors for IM puw of CA)mpany law. and seed during the year and w> to the (late of 5ignalurg of the finanoal $lalemenls were- Mr G Foster ICh8wmanl FAr M P((¢ford (¢¢ Chalnnan) Mr D IAssell Mr E A Davies Mr C M Ingram MrA Rumbles Ms E R Fundell Mr5 R Barton Mr K R Brotherton MrP MAD8wdson Mrs E AILqn Mr G D¥vles Mr J GL)od {ReSr 19 June 2025) IResJned 13 Apiil 224) 1ResVJn 13April 21r241 (Resyned 14 Novembu 2024) Trustees are recruited from thè Inhabltants ol Newp)rt, Are appointed by the •xistinp TruBtees and inducled Into the le by the ehairman. Training is prowded where ne5¥ary. None of Ihe Tnjstees has any benefKial interest iu the wmpgny. All of the Tnrntees are member$ of thè ¢0MnY and guarants8 Io c4mtribute £1 in the event of a vlndkng LIP. orga01}nalstIW0 The napa1 at8 of the Twst, c¢mprl$ing tsf o portfolb) of nStM•r And propeity. are managed by B•B Ihtsatth, Dw¢8, Mthft& Pery. Tempertons. D•y-tO-d8y management of the Trust is undertaken by the Se¢fftlary. The TNStee$ m*tl fom8ly on o wulBr baBIB to reviow Ihe affairs an¢J ffift8nthal pèrformance of Ihe trust and ¢onsider aFplications for 9rantB. Funds h•ld as ¢u6todlan InMtO• Thg inveslments and propeity held as assets of thg tru¥t are hekl 49 ct0 Intstee on beha of the chwity ol Dame SafthAnnabdla Boughw. Small ¢ompany exempon This r¢port has been prepwed In 8¢¢orda wllh the PToWslons appllcab19 to ¢ompanloB gntilknd to thg Small omp•ni¢s èxampllon. stees. re wa3 appro by th• Bo¥rd of TAl¢es. Fostar {Chalmi#nl Trustee
THE BOUGHEY TRUST COMPANY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOUGHEY TRUST COMPANY LIMrtED I report to the Trustee$ gn my examknaion ofthe fancIal st8tement5 ofTh? 3¢ughey Trust Company Unknd Ilhe Twstl forth¢ year ended 31 D•tnber 2024. Rwpon$ibilill•s and ba¥ls of rèport As thé Tru5te8s of the Trust land also it5 diredors for the pu0$&$ of company law). you ore reSp(fflS1 for the preparallon Dflhe finonoal siatemants in a¢cordance with rtsquiremts oflhtr Companies Act 20C6. Having satisfied my8?W Ihat the finanoal stwnents of the Trust aro nol r•quir¢d lo bo audKed undèr Part 18 ol t Comp•ni$ Ad 2006 and are eligible for independent exarninatK, I r•port in respect my eXami10n of the Trusfs finanrAal stalemnts Carried OLrt under sectlon 145 of the Chaiities Ad 2011. In •ng out my examThtN)n I have followed the Directions gNan by the Charity Commission under se¢on 145(5)Ib) of thè Chgrltl8sAcl 2011. Independent •x4mln¢f¥ •l•t•m•nt I h8v• ¢ompl8ted my exAmlnatlon. I confiwrn that no matters h¥ve come to my attenlron in wnne¢tM vAth tho examinalion givlng me cause lo bell8ve that In èny mattrrial lgspect.. acMUnt9 records were not k8Pt In respect of thfr TN$t as requilod ty section 386 of th• C(Inpan¥ A¢i Ihg fin4ndal slalem•nts do not acrd wlth IEv)se record¥'. or th• financ3al ststèments do not comtly wNh the &CUnn0 requ1ments of sedion 396 of the Compan$ Act 20LK other than any requir¢mant thal the financral stal•mentS gNe a true 8nd fair view, which is not a matter nsrdeied •$ part of an ind•pendent èxAmInatn,. or th8 finandal $tslments have not been prepared in aLwdance wtth methods and prSpIeS ol the St8t6mént of ReccMnded Prac fo¥ 8¢¢ounting and repOrt}g by chaTllles 8pplKable to tharfll8s pr•paring thr financial slatements Tri OrdanCe wlth tha FSnancAal RepOrtW Standwd apPIab in the UK and Rèpublic of Ireland IFRS 1021. I hwe no eoncems and have come across no other matter8 In connth tth the exarnlnation tD whh 8ttonthon shoukl be drawn In thls report in ordgr to ble a prLyer Understand¥ ofthe financial slatem•nl$to be reaced. A LQdLwr Autlrey Wlllom8 FCCA Dyke Yaxley Umlt•d 1 Br8ssey Road Old Polts ShrSbUry Shropshlre SY3 7FA D¥lt: ....
THE BOUGHEY TRUST COMPANY LIMITED STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR ThTE YEAR ENDED 31 DECEMBER 2024 Unr•strlctsd EndowTMnt ld lund8 2024 Total Unre$lrf¢tsd EndoMMert nds funds 2023 2023 Tot•1 2024 2023 Nol•s kn¢onw from: Inve51merts 73,687 73,887 70.969 70.969 rotsl incom• 73.687 73,687 70.969 70.989 ExpondN On". Ralslng funds 64.093 64.093 70273 62(KJ 70.273 6,200 Totsl •xp•ndrtur• 73.398 73.398 76.473 76,473 Net galnslOo8s¢s) on Investments 10 25033 Net InGOm• 37,251 37.251 20.329 20,329 oth¢t vè¢0h•d g•ln6 and lo$sè•: Revahjalion tsf tanglbl fixed ass•ts 3W,IXIO 3,c N•t mov•monl In fund• 37251 37,251 410.329 410,329 Ro¢onclllatlon of funth: Fund balar$ at 1 January 2024 1.645A¥J1 25.000 1.670.901 1.235,572 25,C#XI 1280,572 Fund balJnc•¥ •t 31 D•¢9mber 2024 1,883,152 25.1100 1.708,152 1,845.901 25.LN)0 1,670,9)1 Thè slatÈm*)l of fmancjal actMlie8 galns and IOSEQS recognised In the year. Al knccrfne aryj gxfft)¢kntu doriv¢ from ¢ontinwn9 ath¥lls.
THE BOUGHEY TRUST COMPANY LIMITED BALANCE SHEET AS AT31 DECEM8ER 2024 2024 2023 Flxed assets Tangible assets Investrnents 12 13 1,127.080 1.127.080 486.138 1.635M76 1.e13218 wrgnl assets Debtors Ca8h ot bar&k and In haN1 14 4,960 72,346 55,167 77,306 60.629 Craditots: amounts falllng wrilhln on• y•ar (4,830) 12.946) Nrt current aH•ts 72.476 57.683 Tot•1 a8ts 10$$ ¢urYent liabilitie¥ 1.708,152 1,670.911 Thp funds olthe Trult EDdi)wmenl lunds Unr86ts1cled fund$ 25,000 1.683,152 25,QJO 1,645,901 17 1,708.152 1,870,1 The company 15 8tthl18d lo the ex•mptKJn from Iht audbt iequwemenl taIned In seclon 477 of the Companks 20Cfi, for Ih8 yeol ended 31 tknmbw2024. Th8 dlraclors ackntsvAedge their r?$ponsibililies for comptying wSth the requirements of Ihe Co8n1eS AGI 26 with re$pect to acwunllng re¢ordB and the prgparallon of Inancaol statements. The members have Th)1 wouked tho cL¥npany lo obialn an oflts [ancIal statements for the year h qu•stKJn in awdance with sèctlon 476. These financia statements h•v• been pTepor•d In accorda with provislons appllogbb 10 ¢omponlès SSied ttslhe $mal Ix)mP8nl85 Tegrne. 31 4025 oncial stslements were 4pwovad by the Tntstegs on............ . . . . . G Foster Ichalrman) Trust4• Ci)mpany reglslr8tion number 00325195 (England and lIes>
THE BOUGHEY TRUST COMPANY UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounllnu polkles Chailty Infornmllon The Boughey Trust Cornpany Limittrd is a pale company fjmitgd by guatanloe rA)ldIed in England 2nd WBles. Thé tegi%ter•d offic is 1 Brassey Road, Old Potts Way. Shr8wsbury. Slwopshlre. SY3 7FA. 1.1 Aceauntlng conntIon Tho fin8nrAal Stalements hove been prepared kn accwdance wilh thè TrIrS gtwerrmng {lMent, tho Companies Act 20tfi, FRS 102 The Fina1¥1 Repwting Slandard applicable in tho UK and R8public ol Irelan fFRS 1027 and the Charities SORP 'Accountlng and Report19 by Charities: SlatsmoTht of Recommended Prnctke applicabk to thaiilie$ pr&parfng theif acXunfS in atlance wth the Financial Reporhng Stsndard appl(cob in the UK Repubkc ol IrsloThJ IFRS 102)" (effeclve 1 January 2019>. The Trust is a Public Benefit Entty as defined by FRS 102. The TNst has laken advanlBge of Ihe provisions ift the SORP ¢harilks notto prepare a Statwnent of Cash Thè nA81 slatemenis arg propor¢d In slerting, whK is the fundiorwl wrr•ncy of the TIu51. Monetsry amounts in thes¥ )In8nebl sl8*mentS are rouThJed lo the £. The fina1#1 sl8t•ments have been prepared und8r hiqtcrficBI cost nvenon. Thg prfncipal accounlng pdiraes adwed are Eet oul bol 1,2 Goln9 ¢onc•m the Ilmè of appron9 financial 8t¥tements, the Tntslees ha a rea50ble ¢Xp¢tts1¢ the Trust hos adequate resour¢es to ccffitlnue in operational exist¢n¢e for fv foreseeabk future. Thu$ tho TNsl8es ¢onUnue to adopt lh8 going conc¢m ba$ls of accounting in PTep8ring Ihe ffin¥ntyal statements. 12 Chorlt•blè funds UnrÈstridéd funds aTe avalable foT Use 8t the disc¥etion of the Twstees in furth•r#nc• of thdr tharftsble otlectivè5. Restricled funds are svbjecl to $pecSfic )dItionS by donor5 or 9rantors a5 to hty¥ Ihey may ba us•d. The pwses us88 ofthe restricted are set out in the noles lo th• kn141 statèmuts. Endowment lunds 8ro to c¢tsJlknns by donors Ihat the capKal mu81 b? malnlalned by the TnL. IA In¢ome Inrne 56 recognised whon t Trust is legaW entiued to tt after any rfOrma (x)ndilicns have boon met. Ihe •MoU$ can be measured rdiobty. ¥nd tt Ls pyobabk that iome wll be rerxlwd, Cash donations ar• recogni68d on re¢elpL Olhèr doThalknM are recognised on¢$ Trust has been notified of the donatio unle55 Performae c¥Jndilions Tequire deferral ofthe amounL lrtome tex reereb1¢ In reladon lo dona¢lons receNed Under GfflAid or t¥•8ds of cov•nanl is recogn15 at the tlme of thè donatton. Legacles re1¥ed on recelpt otheMs• Mthe Try has been notifrpd of Impending dwrbuuon. th• amouni is known. rgcwt is expeded. M the wnount is not kr. the legw is treated 8$ a ¢onting•nt a$seL
THE BOUGHEY TRUST COMPANY LIMITED NQTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng pollGI•• IContinued} 13 Exp0ndlr• Expenditure is recognised gn¢e there 18 a leg81 or con8lructlve obtlgation to transfor economic benèfit to a thwd party, it is probabk that a transfer of 9conornic bon•frts will be re4U4red In setllemenl. and the amount of the obligatSon can be rneasLwed rellabty. Expenditure is dasSifd by The ¢osts of each s¢Uty are made up of lotal of direct ¢QSts and shwad costs. Induding support rwts invofved in und9rtaki each alty. Direct costs ¥ttributable to 8 $5n9le zclivity are Blocated direclly to that edvity. Shared o)sts whi¢h contrSbJJte lo rnore Ihan one and SuppCt costs whi¢h are not attribulobl• to a single acti are apportioned befven tho88 8cl1vlts on a basis con81¥1• wrth the use of resources. Central $taff Lvsts ¥¢ allocatod on the basls of time sp¢nt. and depredatitsn ¢harg8s aro allocoléd on Ihe portion of tho assevs use. IA T•nglbh fixod a4¥•ts Tarrfjible flxed assets at¥ inltolty rnea$kK at cost subsequenlty mgasfftd ot cost or valuallon. nel of depreclalion and any impalrmerA losses. Depreci10Th is recJ)gnlsed so as lo wrtte off the co$t or V¥8t10 of 883ets kss Iheii reskjual VaeS overihelr usefvl I on the foll0v bases.. Freelh)Id land and bulldin98 Leasthld land •nd bulldings ot depreciated not d8pr8cialed 33% Straht line The gain or los8 ari¥ing on the disposal of an asset 1$ delefmin8d as the dfvreneè bee9 thè sth proceeds and th• cgrylng valut oftho ass91, and r4 rg¢ognised in the $tat&ment of fNncial act4Vtties. Tangib fixed 88sets whlch are frohdd inveslment propertw6 are eorriad at market value. based orn Independent wofessional valuatson5. Their values are reWel annu01 by Ihe Trustgos. No deprec4atton Is pded on inv88tmBnl properues. Leasehokl propertle5 are rrIed at co$L which Ihe Irustee¥ ojnsider preSentS value. They are maintalned in a good 5tste ol rep8iT, such that Ihelr 9$1in8ted residual value Is not le88 than cost and ConSequ11Y they aTe not doprKiatFd. 1.7 Flx•d a8•ot InmlmgnlB Fixed a$$01 Investments are inttiamy mea$ured at transac4ion exdudiThJ Irans8¢tlon tosfs, and are subsequently meo$ured al fair v81ue at each reporfng date. Changes in falr value are recognised in not Irmmelltrxpandlbjrel for the yoar. Transa¢tion costs are eynsed as Inrre 1A hmpalmwnt offix•d a$•ets Al each repoiting end date. the Tw¥t r¢vw48 thè earying amount$ ol ts tanbte assets to determirffj whgthgr re is any indication that Ihose awts have sullered an imp4imionl k)3s. If any Inditslon exist4 the coverabl? arTh)unl of the a58et is esllmoted In order to dtstemilne ts exient of the imp8lrmoffll I8 {rf•ryl. 1.9 Cash and ¢a•h •qulvatenl• C8sh and cash equwalenls indudb cash lft hand. deposhs held at cal wilh banks, other 6hort-term li4uh irwestrnents wlth origlnal malurfllg5 ot three monlhs or lests. ar bank overdT¥ft$. Bank overdrafts are shown thin in current Ilablitl•& 10-
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng pollch¥s (Continu*dl 1.10 Flnand¥l IMINmènts The TIu81 h•$ el¢tted lo appty the piowsion5 ol SeLXion 11 'Baslc Flnandal I1, S9Ction 12 'Olhw Finaw81 Instruments Issuès, of FRS 1W2 lo of its fjn8neI Instruments. FilaJaI inslnJrnÈnts arè r•cogn550d in Ihe TnJ8fs balance $h¢et wthen the Trus1 become8 pwty lo the contractual W0$n$ oflhe lburn?nL Fthandal assets and flakn1t¥ orè offs•t. byllh the net anUnts presented in the fnandal statements. when therè is A legally •nlorceBble right lo set off the remnised aM0)ts and th•r• is •n intention 1¢ settlg on a net basis or lo real the a1 al s•llle the liabilty snnuttaneously. Incorn• from inv•5tm•nts Unrtstrklgd UnT¢•trlct•d funds fundB 2024 2023 Rertal income Diwdend5 Interest r•c•W>le 61.720 11.371 59.108 11855 73,687 70,& Expendliuve on MlJing fvnds Unmtrlcled Unrestrietsd nds funds 2024 2023 Trnthng costs Other tr¥dino aeS Support 51,206 7.011 57.717 5.845 58.217 83,582 Inve$lm¥nl m9$m•Tht 5.876 6,711 Total (x)EIB 64,093 70,273
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenrfrtum on ¢hrltable actlvltl Gmnt mokln9 2024 Grant maklng 2023 Direct v>Bts Grant funding of activilie818ee nole 51 6,2CQ Anaty5is by fund UnreslrKt•(I funds 9.305 6,200 Grnnt YAble Granl m•kEng 2024 Grant miklng 2023 Grants to instmutkins: ChurthAston Village Hall Fitsl Respondèrs Newporf CaTrfv81 Newport Gid8 FC Longford PlayJro Newport visual Impgired The Cottage Care Hospli81 St Georges Day Forton Crickot Club Newport CrfLèt Club Newport Youth Calé Newport Rtsl Naval AssocialK)n Club Nova FC Llllesh41 Rairths 700 9DO 1,000 soo 300 2.ODO 500 1,500 soo 1.000 500 2.000 500 700 730 300 375 9.305 6,200 Support ¢osts allo¢atsd to Aetlvllles 2024 2023 1,589 462 3,000 Website costs Secvetary fees Govemance 411 3,OC 1,200 7,011 5,845 Analysgd b¢lw••n: FuryJrai$Mig 7.011 S,845 -12-
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (COKtINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 N•t movgmBnt In lunds Z024 2023 The net movgmant In funds is slated aftet chaTyingllerediting)". FeBS payabl¢ f¢¢r the independent examination (rfth• chwivs fmand81 statements Truta•s None of the Trustees lor any r$on8 eonneded wlth them) any rgmwRrlon or bon•ffits from Ihe Trust dwing the r. The a4rage monthly rniNthr of empbyee8 during thé yeAr was.. 2024 Number 2023 Nwnb•r Totsl Ther• were no employèes whose annugl r•munrfalion vms moro than £6Q,000. 10 Gilns IM¥• on Investrrnts Unr•strict•d Unre•trlctsd fund nd¥ 2024 2023 G•nslllosses} wisthg on: Revaluabon oflnvestments S8le of Inves1me9 26.647 10.315 21,881 11 Taxatloh The ¢h8rity Is exampl from ta¥&tion on its 8¢tMUgs becau50 all Its income Is applied for charilable Purpo3. -13.
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Tanglblo fw•d assets Fléthold 18nd L¢a¥ehold and Iwlldin T•t•l Cost At 1 January 2024 1,090,000 37.080 1.127,564 At 31 December 2024 1,090,000 37,080 fj.l27,4 Dgprnciatitrn •nd Impilmlont At 1 January 2024 484 At 31 December 2024 484 Carrylng anx>unt At 31 December 2024 1,090.000 37,0 1.127.080 At 31 Decarnber 2023 1,090.000 37,ON> 1.127,080 Fraehold inve$lmenl wopertie$ reydlued in 2023 by independent thortered suNeyor4 Twnp•rtNI8. on s ontinuing use base. The hi$lorK81 ¢osl Is £34.540. Thg freehokl of the Guilthall. Newwjrt 1$ ¢arried at £nll #g t Is an Inaienabte hmtylcal asset Ih¥l produces no inrxjme. 13 Flx•d assèt lTrv•stments L15tgd Snve¥tsA•nts Cash In portlpllo Total Cost orvalualion At 1 January 2024 Additions V8IuBtion change¥ Disposals 477.770 61.407 28.647 {64,771} 8,368 89.3S2 486,138 130,759 26.647 1134.9481 70,17n At 31 Décemter 2024 501,053 7,543 508,$9S CaThying amount At 31 tkcemter 2024 501,053 508.598 Al 31 Decemt*r 2023 477.770 8,30B 488.138 14 Dabtom 2024 2023 Amounts fallinq du• wlthln one year.. Prepaymonts accwed ineJ)m 4,0 14-
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Crndltors: amounts falllng du• wlthln on• ygor 3024 2023 Other credito A¢¢ruals and deferred income 1.230 3.600 S48 2.4rrf) 4.830 2,946 16 Endowfflent fund¥ Endowment funds represent assets which mu¥l be hd permanently ty the Trust. Income afising on Ih endowment fvnds can be used in aecordaYw th the obleets of Ihe Tru8t aTrJ is I7jed as unrest Inctthè. Any ¢8pW galns or105$08 arflng on the 8ssgts th part Dfthe fuThL Al 1 hnuary 2024 At31 De¢emhr 2024 Ptrmwnent efvdowmènts 25.oc 25,000 Prévlou8 year. Al 1 J•nu•ry 2023 At31 December 21123 Pemwn¢ttt•ndowm•nts 2S,000 25,000 17 Llnrestricted fvnds The resttted lund8 ofthe charity wrnprise the un¢xpend¥d balan¢9$ ol donallon5 and grants whith or¥ not ¥ubi*ct to $p8dfic condilions by donors and grantors as lo how they may be swd. These indude d•signated funds whlch have been sel asth Dut of unwstslcled fvnds by the trustees for sp1¢ purposs$. Al l J•nu Incomlng Re50wces 2024 r•sovr¢ expènd•d GoiNI and 1088•0 At31 D•¢•mbèr 2024 Genernlfund8 Revalualon reserye 589.941 1.5,9 73.687 (73.3981 627.192 1,055,960 -1s-
THE BOUGHEY TRUST COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Unrnstrlct•d lund¥ Iconllnuedl Prn¥r• year. At l January 2023 In¢omlng RourceS Galns •nd At31 resourtts •xp•nded 10•$•8 D•mI 2023 General funds Revalualion resorve 569.612 665,0 70,9 178,4731 25.833 39J.000 5B9,941 1.055,960 11 Analyls of n•t•s$ets betw••n funds Unr•8trlct•d Endowment fund6 fund 2424 2024 Totsl 2024 At 31 Oecemb•r 2024: T8ngible a58e18 Investménts CuJTent 8sSlIabilIties} 1,127,080 8,&J6 47.478 1,127,080 508.598 72.470 25,CQO 1,683.152 25.0 1.708.152 Unrpstrlctsd Endownwnt lunds funds 2023 2023 Totsl 2fj23 At 31 Dècèmber 2023: TaThJible assels Invesknents CuThent a5setsl0labrfrt8) 1.127,080 486,138 32.663 1.127.080 486.138 S7,683 25,000 1.645,901 25.000 1.670.gJ1 19 R•lat•d party trdnsaction¥ The eomp8ny made payments lo I<RM Contractor¥ timite(J, a company which Iruslee Mr A RumtAes is a difeclor and shareholder. for various repai and ImprovernentS #t propertl08 ryffled by lh& tharty Iclaling £30.8n12W23: £27,797). -16-