**REGISTERED CHARITY NUMBER: 221789** ## **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **FOR** **THE LINEN AND WOOLLEN STOCK CHARITY** Fairhurst Audit Services Ltd Statutory Auditor Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB **THE LINEN AND WOOLLEN STOCK CHARITY** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Report of the Independent Auditors**|4 to 6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8| |**Cash Flow Statement**|9| |**Notes to the Cash Flow Statement**|10| |**Notes to the Financial Statements**|11 to 14| |**Detailed Statement of Financial Activities**|15| **THE LINEN AND WOOLLEN STOCK CHARITY** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2025** The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The main objectives of the Charity are the relief of persons resident in the area of benefit who are in need, hardship or distress and assisting those not for profit organisations in the community supporting the wellbeing of the residents. ## **Significant activities** The Charity uses the income generated from its investments to support those in financial need in the community by approving grants to provide financial assistance. ## **Public benefit** The trustees have had regard for the guidance issued by the Charity Commission on public benefit as the activities have provided benefit as it has eased the financial burden on the beneficiaries at no cost or detriment to them. It serves the public or the Ashton-in-Makerfield borough as a whole. ## **Social investments** The charity has invested with a charity specialist Cazenove in their Sustainable fund this year as it is the view of the trustees that all investments should be as sustainable and socially beneficial as possible. ## **Grantmaking** The applicants must fall within the criteria set out in the Charity's constitution and objectives, which are described above. The Trustees review each application and each grant must be approved by 7 or more of the trustees. ## **Volunteers** The Trustees recognise the contribution made by its volunteers. This includes running the charity's administration (including finance and reporting), managing the grant applications received, and distributing them to the trustees for approval then issuing the cheques to the recipients. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** The charity has supported over 80 local families with the cost of school uniforms this year. It also gave funds to 3 local schools to support children on pupil premium to be able to afford the cost of the school trips and events and they gave grants to local people who unfortunately suffered losses in a flood on New Years Eve. ## **Investment performance** The investments are performing to the expected levels and achieving the payout objectives needed to keep the charity funds available to those in need. ## **FINANCIAL REVIEW** ## **Financial position** The charity ended the year in an extremely good position financially after selling land and investing the profits into an investment that will pay out quarterly to give a steady income. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Page 1 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure** The body of Trustees shall consist, when complete, of 16 competent persons being:Two Ex-Officio Trustees, Seven Nominative Trustees and Seven Co-optative Trustees. - The Ex-officio Trustees shall be: - A representative of the Ecclesiastical Parish of St Thomas's, Ashton in Makerfield. A representative of St Oswald and St Edmund Arrowsmith Parish Church, Ashton in Makerfield. - The Nominative Trustees shall be appointed by the Wigan Metropolitan Borough Council. - Each appointment shall be made for a term of four years at a meeting convened and held according to the ordinary practice of the council. The chairman of the meeting shall cause the name of each person appointed to be notified forthwith to the Trustees or their clerk. The person appointed may be but need not be a member of the council. - The Co-optative Trustees shall be persons residing or carrying out business in or near Ashton in Makerfield . - - At least one of the Co-optative Trustees shall be Medical Practitioners, three representing schools within Ashton and at least three of them shall be women. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 221789 ## **Principal address** 41 Kiveton Drive Ashton-in-Makerfield Wigan WN4 9EX ## **Trustees** Cllr A J Bullen Ms J McKiernan-Bruce (appointed 27/7/2025) P J Paul (appointed 3/6/2025) Ms K L Smith (appointed 3/6/2025) Ms J Hewitt (appointed 3/6/2025) Ms G Stowell (appointed 3/6/2025) D Marsh (appointed 13/8/2024) Rev S Jones (appointed 22/5/2024) Ms J Murphy Ms B Hughes Ms A E Napier Mrs J Maher B Gosling Mrs R Palmer W Morris Mrs A Duckworth Mrs J Roberts (resigned 2/7/2024) M Tushingham (resigned 2/10/2024) Mrs P Gillespie (resigned 21/1/2025) Rev J Thomas (resigned 22/5/2024) Mrs C Moorfield (resigned 21/1/2025) ## **Auditors** Fairhurst Audit Services Ltd Statutory Auditor Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB Page 2 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2025** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with 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 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 28th January 2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by: **----- Start of picture text -----**
........................................................................
Cllr A J Bullen - Trustee
**----- End of picture text -----**
Page 3 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LINEN AND WOOLLEN STOCK CHARITY** ## **Opinion** We have audited the financial statements of The Linen and Woollen Stock Charity (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 4 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LINEN AND WOOLLEN STOCK CHARITY** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows; - The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. - We identified the laws and regulations applicable to the charity through discussions with trustees and management, and from our knowledge and experience of the charitable sector. - We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or operations of the charity, including the Companies Act 2006 and Charity SORP. - We reviewed all accounting entries against supporting records. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Other matters which we are required to address** The financial statements to 31 March 2024 were unaudited. Page 5 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE LINEN AND WOOLLEN STOCK CHARITY** ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Fairhurst Audit Services Ltd Statutory Auditor Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB Date: ............................................. 28th January 2026 Page 6 ## **THE LINEN AND WOOLLEN STOCK CHARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025** |2025
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Investment income
2
20,661
**EXPENDITURE ON**
**Charitable activities**
3
Core activities
22,820
Net gains on investments
962,842
**NET INCOME**
960,683
**RECONCILIATION OF FUNDS**
Total funds brought forward
389,573
**TOTAL FUNDS CARRIED FORWARD**
1,350,256|2024
Total
funds
£
11,881
12,683
22,804
22,002
367,571
389,573| |---|---| The notes form part of these financial statements Page 7 ## **THE LINEN AND WOOLLEN STOCK CHARITY** ## **BALANCE SHEET 31 March 2025** |Notes
**FIXED ASSETS**
**Investments**
Investments
7
Investment property
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
**TOTAL FUNDS**|2025
Unrestricted
fund
£
1,271,181
49,000
1,320,181
31,935
(1,860)
30,075
1,350,256
1,350,256
1,350,256
1,350,256|2024
Total
funds
£
333,317
49,000
382,317
8,074
(818)
7,256
389,573
389,573
389,573
389,573| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28th January 2026 **----- Start of picture text -----**
.............................................
A E Napier - Trustee
**----- End of picture text -----**
The notes form part of these financial statements Page 8 ## **THE LINEN AND WOOLLEN STOCK CHARITY** |**CASH FLOW STATEMENT**
**for the Year Ended 31 March 2025**
2025
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
(19,978)
Net cash used in operating activities
(19,978)
**Cash flows from investing activities**
Purchase of fixed asset investments
(1,000,022)
Sale of fixed asset investments
18,000
Sale of investment property
1,007,000
Dividends received
18,861
Net cash provided by investing activities
43,839
**Change in cash and cash equivalents in**
**the reporting period**
23,861
**Cash and cash equivalents at the**
**beginning of the reporting period**
8,074
**Cash and cash equivalents at the end of**
**the reporting period**
31,935|2024
£
(9,430)
(9,430)
-
-
-
9,181
9,181
(249)
8,323
8,074| |---|---| The notes form part of these financial statements Page 9 ## **THE LINEN AND WOOLLEN STOCK CHARITY** ## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2025** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |2025
£
**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
960,683
**Adjustments for:**
Gain on investments
(962,842)
Dividends received
(18,861)
Increase in creditors
1,042
**Net cash used in operations**
(19,978)
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**|2024
£
22,002
(22,804)
(9,181)
553
(9,430)| |---|---| |At 1/4/24
Cash flow
At
£
£
**Net cash**
Cash at bank
8,074
23,861
8,074
23,861
**Total**
8,074
23,861|31/3/25
£
31,935| |---|---| ||31,935| ||31,935| The notes form part of these financial statements Page 10 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** 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. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. continued... Page 11 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025** ## **2. INVESTMENT INCOME** |2025
£
Rents received
1,800
Other fixed asset invest - FII
18,861
20,661
**3.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
4)
note 5)
£
£
£
Core activities
100
19,860
2,860
**4.**
**GRANTS PAYABLE**
2025
£
Core activities
19,860
**5.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Core activities
1,000
1,860
**6.**
**TRUSTEES' REMUNERATION AND BENEFITS**|2024
£
2,700
9,181
11,881
Totals
£
22,820
2024
£
9,734
Totals
£
2,860| |---|---| No remuneration, expenses or other benefits were paid to the trustees' for their services as trustees' for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **7. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|Listed
investments
£
333,317
1,000,022
(18,000)
(44,158)
1,271,181
1,271,181
333,317| |---|---| There were no investment assets outside the UK. The fixed asset investments are held in broker funds are therefore revalued on an annual basis. continued... Page 12 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025** |**8.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 April 2024
and 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1/4/24
£
**Unrestricted funds**
General fund
389,573
**TOTAL FUNDS**
389,573
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
20,661
(22,820)
**TOTAL FUNDS**
20,661
(22,820)|£
49,000
49,000
49,000
2025
2024
£
£
-
540
1,860
278
1,860
818
Net
movement
At
in funds
31/3/25
£
£
960,683
1,350,256
960,683
1,350,256
Gains and
Movement
losses
in funds
£
£
962,842
960,683
962,842
960,683| |---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/23
£
367,571
367,571|Net
movement
in funds
£
22,002
22,002|At
31/3/24
£
389,573| |---|---|---|---| ||||389,573| continued... Page 13 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025** ## **10. MOVEMENT IN FUNDS - continued** 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|11,881|(12,683)|22,804|22,002| |**TOTAL FUNDS**|11,881|(12,683)|22,804|22,002| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/23
£
367,571
367,571|Net
movement
At
in funds
31/3/25
£
£
982,685
1,350,256
982,685
1,350,256| |---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
32,542
32,542|Resources
expended
£
(35,503)
(35,503)|Gains and
Movement
losses
in funds
£
£
985,646
982,685
985,646
982,685| |---|---|---|---| ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2025. Page 14 **THE LINEN AND WOOLLEN STOCK CHARITY** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025** ||2025|2024| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Investment income**||| |Rents received|1,800|2,700| |Other fixed asset invest - FII|18,861|9,181| ||20,661|11,881| |**Total incoming resources**|20,661|11,881| |**EXPENDITURE**||| |**Charitable activities**||| |Other operating leases|100|50| |Postage and stationery|-|38| |Repairs|-|2,043| |Grants to individuals|19,860|9,734| ||19,960|11,865| |**Support costs**||| |**Management**||| |Clerks fees|1,000|-| |Legal & professional fees|-|540| ||1,000|540| |**Governance costs**||| |Auditors' remuneration|1,500|-| |Accountancy and legal fees|360|278| ||1,860|278| |Total resources expended|22,820|12,683| |**Net expenditure before gains and losses**|(2,159)|(802)| |**Realised recognised gains and losses**||| |Realised gains/(losses) on investment property|1,007,000|-| |**Net income/(expenditure)**|1,004,841|(802)| This page does not form part of the statutory financial statements Page 15