Charity reylstrallon number.. 223190 S R and P H Southall Trust Annu31 Rewrt 8nd Flnandal Statements fDr th8 Ye3r Ended S April 2024 Ballards LLP Chartered Acc4yJntants 1 Ic KirYJswood Road HamptDn Lovett Droim'ch Wortestershire WR9 OQH
S R and P H Southall Trust Contents Reference and AdmlnL¥tratfve Details Trustee5' Report 2to3 Stat8rnenl of Trustees, ReSponbilItIeS Independent Exarninees Report Statement of Financial Actimties Balance Sheel Noles to the Financial Statements 8t013 DBtsiled Statement of Finonci81 AC10S 141015
S R and P H Southall Trust ReferenGe and Admlnislratlve Detalls TSteD5 Ms A C Soulhall Mrs C H Compton Mr B I Compton Mr T B Compton MrHGSSerte MrJESSerle Beeth HIN Clifftird Hereford HR3 SHE Prlnelpal Offi¢e CharFty R•glstratlon Number 223190 Independent Examiner B8IIBrds LLP Chartered A¢¢ountants 11c TrQngswood Road Hampton Lovett Droih¥ich Worcestershire WR9 OQH Pag8 1
S R and P H Southall Trust Trustees. Report The trustees present the annual report togethèrwlth thè finarrial statements of the tharity lor the year ended 5 April 2024. ObJoctlve& and actlvltles Objects andaim$ The principal objects've of the trust Is to provide finanual assistan to Charilab instttutions and for charitable purposes in which thè Iwstees Ive an inleTesl, especially the promotion of education arKI the conservation of our natural environment and cultural heritage. They have a particular {but not exdusivel interest in Heref0rdshi. Publ1¢ benefft The trustees confim Ihal Ihey have complie(I wth the rewirements of secllon 17 of the Chariii88 Act 2Ql I lo have due regard to IhB public benefft gUIdae published by the Chartty Commission for England and Wales. Achlevoments and p¢rtomiance In¢omJng resour¢es InwrnbrTrg resources con51St of investmonl Income in tho fom of divideTth arKt bank Intwost of £145,861 12023.. £141,537). Resources expond•d £143,700 12023". E113,00014wJ5 spent on threct charrtable e4uendiiure in form of gTrnls to other charitae instituiions. £39,010 12023". £40.977) w35 snt on Ihe management and admirmstrallon of the Ch8Tbty and its assets. Flnancl•l Tevlew Policy on reseThes The free reserves ol the Chlty al S April 2024 am(MJnled to £6,360.389 12023.. £6.096.597)- In accordance wrth th8 Trust Deed dated S Uay 1947. the trustees do not belièvè that any of the Charitys funds are restricted. Struthiro. gov•m¥nco and management Nature of govgrnlng dgrumenl The Charity K8 ¢on1rle1 by tis goveming doc#Jment. a Deed cl Declarntion of Trust dated 5 May 1947, and consfjlules an unSn¢orporalèd ChaFty. Recwltmentand Appolntment of trustees New trustees are recruited and appointed at the discretton of the esting Irustees. Page 2
S R and P H 5outhall Trust Trustees. Report Icontlnued) The annual report was approvod by thè Irustees of the charity on behalf by.. . and $Tr8d on its Mrs C H Cornplon rTUStee Page 3
S R and P H Southall Trust Statement of Trustees. Responsiblllties The Irustees are rwonsible for preparfng the truste8s' r8POrt a1 the fin8nts81 statement5 in accordance wAth the United Kingdom Accounting Stsndards (Uniled ngdOrn Generally Accepted ACcting Pr8Cticel 8nd applicable law and regtslation5. The law applicab to chariti&8 requirès th8 trustÈ8s to prepare financial stslements for each financial year whlch give B (Tue and lair view of the state of affairs of the charity and ol the incoming resources and application of r8sour¢es of the charlty lor that perfod. In weparing these financlal stslements, the trustees are required to.. select suMabl8 accounting poldes and apply them conssstendy. observe the rnethods and principles in the Charities SORP., make judgetnvJnls and estimates that are reasonabl8 and prud&n( state whether appllcablg a¢¢¢xJntlng sr8ndartls have been fc41owed. subject lo any rnaterial departL*res disclosed and explained in the financid ststements,- and pr8pare th8 Inanci818latements on the going ojncem basis unless il is lnapw(8Ie to presume that the charity will continue in business. The trustges are r8sponsit)1g for keeping proper B(xJunting re(x)rds that disdose wth reasonable accuracy at any tirne the financial position ol the charity and enabl8 thètn ID 8Sre that the financial slalements comply ¥wth Ihe Chariti8s Act 2011, the Charitt85 (Accounts and Reports) Regulats"ons 2008. ané the provisions of the eonstitthion. The trustees 8re atso responsible for safeguarding the 8ssÈls of the charity and hence for taking Teasonable sleps fLY Ihe preventlt)n and (Jetection ol fr8tKI and other irregulallbe5. The trusteas are r8spDns(b18 for the maintgnance and integrity of the corporate 8nd fin8nual information included on the charitable wrnpanls web31t8. Legi81ation goveming the preparation aThJ dissemination of finanrAal statement5 may diff8rfrorn lègisL4tion Èn other juristli.0ns. Approved by ihe trustees (rt the ch8Tity on .Ir-I0... 8ftd signed on it5 behaw by. Mrs C H Compton Trustee Page 4
S R and P H Southall Trust Independent Examiner's Report to the trustees of S R and P H Southall Trust I report to the InJ$lees on my examination ol the accounts of S R and P H Southall Twsl for the year ended 5 April 2024. R•sponslbllltlès and basls of rèport As rhe charity trustees of S R and P H Southall Trusl you are responsible f(Y the preparation of th8 accounts in accordance wrlh tre requlremenls of tre Charfb'es Act 2011 I'the Act'l. I report in respecl of my examifiation of the S R and P H Southall TTusI's accounts canied oul under section 145 of the 2011 Acl and in carTring out my examinats'on I have followed all the applKable Direcbons given by the Chariiy Commissian under secbon 145151{bl of the Act. Independent oxamlnerf$ statoment I have completed Triy examination. I confirm that no material matters have come to my attentIC in tonnection wth the examination giving me cause to believe that in any material respocl.. 1. aGwunting recy)rds were not kept in respect of S R and P H Southall Trust as required by section 130 of the ACL or 2. the accoun15 do not accord with those Tecords,. c 3. the accounts do not coThply with the atxounting reqLwreJnents concemKbg the form Bnd rA)ntent of accounts sel out in the Charities IAccoLJnts and Reports) Regulations 2008 olher than any requirernont that the aceounts give a 'true and fair view which is not a mattor considered as part of an IndePendt gxarnin*ion. I have no concems arKt have come across no other matters in connect6on wlth Ihe examlnation lo which attentiOTT should be drawn in this reporl in or¢Jer lo enable a propeT UT¥J8r8landlng of the accounts to be reached. Iman FCA CTA Ballards LLP Ch8rt8red Accountants 11c King5wood Road Hampton Lovett Droiiwt WtsTce5tershiTe WR9 OQH Date.. Page 5
S R and P H Southall Trust Statement of Financial A¢tivities for the Year Ended 5 April 2024 Totsl nroatrl¢tsd funds 2023 unrestrlct•d funds 2024 Note Income 8nd Endowrnents from: Investment Incorne 145,862 141,537 Expenditure on: Raising funds Charitable adlvlJes 135,610) 147.100 137.81n 116.160 Total Expenditure G3ins1105ses on investrnent asseis 182.710 300,641 153,977 375.383 Nèt movemerrt in funds 263.793 327,8231 Rewnclllatson ot funds Total fund5 brought forward 8,096.596 6.424.420 Total funds carried fonvard 6,360.389 6.096,597 l of the charftys acfvttlès dgrlve from cA)Trtlnulng ¢)perdllons dtjring the above perlods. The funds breakdown for 2023 is shown in note 11. The notes on pages 8 to 13 fomi an integral part otthese finanaal statements. Page 6
S R and P H Southall Trust (Registration number: 223190) Balance Sheet as at 5 April 2024 2024 2023 Fid assets Investments 5.840,501 5,737.950 Current asset5 Debtors Cash at bank 8nd in hand 38,501 487,087 32,039 332.108 525,588 364.147 Creditors.. Arnounts falling due withir¥ one year io 5.700 5,500 Nel CUTrent assets 519.888 358,647 Net assèts 6,360,389 6,096,597 Funds of the charlty- Unre5lricled Income funds Unfestricted funds 6.3EO,389 6,096.597 Totsl funds 6.360,389 6.096.597 The financial statements on pages 6 10 13 were approv8d by the trustee5, and aulhorised for issue on ..i.C.-1tr.4end signed on t'r bèha by.. MisCHCom TrLJStee ton The notes on page$ 8 to 13 form an integral part of these financial statements. Page 7
S R and P H Southall Trust Notes to th8 Financial Statements for the Year Ended 5 April 2024 1 Accountlng pollcle¥ statement of compllance The fin8ncial slstements have been prepared in accordance vK¢h the second edition of the Charities Statement of Reconimended PTacti¢e issued in October 2019, the Flnanual Reporting Standard applicable in the United Kingdom and RBpublic of IrePdnd IFRS 102} and tho Charilies Act 2011. Basis of prèparation S R and P H Southall Trust meets the definitron of a publTc benefit entity tsnder FRS 102. The accounts lfinanaal statements) have been prepared under the historical cost convention wi¢h items recognis@d at CQ8t or trawcilon vdue unless olherw*se slatsd In the relevant nolels) lo Ihtte accounts. Exernption from preparing a cash Ilow staternent The charity opted to eady adopt Bulletin 1 published ffi 2 February 2016 and haye therefore not induded a cash flow statement in these finanriaS statements. Golng concern The truslees consthr that there Bre no material uncertaintses about Ihe charitys ability lo continue as golng concem. Incom? and endovmients Investmont Incomo Dividènds are recognised once the dividerTrd h88 been declarèd 8nd nOfiCalln has b8èn récelvèd of thE dividend due. Expendlturo All expenditure is recognised once there is a legal or constructive ligatiOn to that expenditure. r( is probable setuement is required and the amount can be measured reliably. Al costs are allocat lo the applicable expenditure heading that aggregate slmilar costs to that category. Where costs cannot be directly atb7buled to particular headings they have been allocaled on a basls con51slent with the use of resources, with ntral staff costs 8110(3ted on thg basis of tirne 8PgrJl, and d8preo8tion charges allocald on the p(ytion of the asset's use. Other support costs are allocated based on the spread of slaff costs. Ratslng funds These are cosls Inrred in attracting voluntary irtcome, the managem8nt of investsnents and thos8 incurred in trading activtties that raise lunds. Charitable activilies Charftable expendllure cornprlses those costs incurred ty the chartty In the ¢Jelivery of lis actsvlues and seNi¢¢s for its nefiaries. It ncludes both costs that can te allocaied direcuy lo suth a¢tivlties and those costs of an indirect nature necessary to suppryt ihem. Page 8
S R and P H Southall Trust Notes to the Flnanclal Statements for the Yaar Ended 5 Aprll 2024 (eontlnued) Grant expeftdrfure Gr8nls offered subject tr) conditions whith have not been mel at the year end dale are noted as a commitment but not acixued as expenditure. GTanls totalling 8ddfjlional £45,50CI for the next year 8nd £22,500 for the fdlowng year have been agreed in prinriple but not gu8ranteed and wll be 8CCA)tsnt6d for when paid. Granlprovlslons Prowsions for grants a m8de when the intentson to make a grant has be communicated lo thg recipiènl but there is rrtaInty about ether the b.ming of Ihe grant or the amounl of grant payable. Support costs Support costs indude central funGtion¥ and have been allocated to actNty cost calegortes on a basis conslstenl th the use of resources. for example, allocating Property costs by flo(N 8reas. or per capila, staff costs by th¥ time spent and other costs by th&ir usaga. Gov•rnance CDsts Th8S8 Inclu¢Je the costs attributable to the charitls COp[anCe wnstilulional and statutory reqU1Ments. in¢luding audit. strategic managemerrt and Ifustees meetings and reimbursed expen3e&. Taxello The charity is considered io pass the tests set out in Paragraph 1 Schedule 6 01 the Finance Act 2010 and thereloTe it meets the definttion L)f a ChTtable company for UK corporation tax purposes. Accordingly, the ch8rity is polenlialty exèmpt from laxation in reSpt of inwm8 Qr (*pilal gains received within categories cxwered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Se¢tson 256 of the Taxaiion of ChaTgeable Gains Act 1992. to the extent that suth income OF gains are ap led exdusively to charitable purpose5. Flxed Investments Fixed asset investrnents, other than programme related inv85tments. are included at market value at the balance sheet date_ Realised gains and losses on investments are calculated a5 the difference between sales proc£eds aT)d their m8rW v8luè at the slart of the year, or their subsequenl cost, and are chorged or credited to the Ststement of Flnanci81 AGlivftie5 in the perad of dispos81. Unrealtsed gains and losses ropresent the rn0veenl in market values duriThJ the yoor and are credited or charged to Ihe Statement of Fin8rtrclal Activities based on the markd value al the year end. Cash and cash &qufval•nts Cash and cash equivalents CDmprise cash on hand and caH deposits, other short-lemi .ghlY IKiuid investments that a readily tonvèrtlblè to 8 known amount of and arg subjeLI to an insignifiranl risk of change in value, Fund structure Unrestricted income funds ale generxl funds that are available lor use at Ihe trustees d1scr9tt¢ in furtheran of the objectives of the chaTity. Page 9
S R and P H Southall Trust Notes to the Financial Statements for the Year Ended 5 April 20241continued) 2 Inv•stment Incom• Unrestricted funds General Tot•1 2024 TotAI 2023 Interest recelvabie and slmSlar Snoome., Inlerest receivable on bank deposits Other income frorn fixed asset Invesiments 1,432 144,430 144.430 141.26g 145,862 145,862 141,537 3 Exp¢nditure on ralslng fttnds a} Inv•slfflent managemorrt CO8ls Unrestrlct•d Total 2024 Total 2023 Gonw¥l Other investment managelnent costs.. Portfollo managèmwt rA)8t8 35,610 35.610 35.610 37.817 37,817 35.610 4 Expenditure on charitable activities UnY•strlet•d funds General Total 2024 Total 2023 Noté Management and athninistration Grant funding of athities 3,400 143.7(K) 3,400 143,700 3.160 113.000 147,100 147,100 116,160 P8ge 10
S R and P H Southall Trust Notes to the Financial Statements for the Year Ended 5 April 2024 Iconlinued) 5 Grantwmaklng The following grants to institution5 were mad8 in the ar 2024 2023 Namg of Instltutlon Artlvity Clifford PCC Granls lo inslFlultons Mdlands Ambulance Grants lo inslilutions Hay & Districl Dial-a-fl"d Grants to Ir15titutions Hereford Cathedral Perpetual Trust Grants to in5trtukn.ons Herelord Historic Churches Ts1 Grants io instilulions Crohn's & Coliti5 UK Grants to institulions Soc of Friends. Almeley Grallts to insiiiutions Britain Yearty Meeting Fund Grants to tnstitutions Sl. Michaefs Hospice Grants to Ir75titubons Hereyordshire Samaritsns Grants to institutions HomeStsrt Herelordshire Granls to institutions Prison Reforrn Trust Grants to institutions W81eorkS Museum Grants to Instltufjons N¥nite Gr8nts to institLJtions Worcester Citvzens Adthce Bureau Grants to Instituon$ The Tobacco Factory Art Trust Grants to instilutions Parkinson5 Disease UK Granls to Inslilutions Close House Projocts Grants to instilutions 4,400 6,000 5,500 4,400 4,400 6,QOO 4.40a 4.400 8,000 8,000 8,000 10,000 6,600 6,000 4,800 4,800 6,600 4.800 4,800 8,800 8,800 8.800 10.0(XJ 21,000 20.000 7,500 4.000 6,6 20.000 5,500 8,000 6,000 143,700 113,000 6 Tfustees remunernlion and expensvJ No trustees, nor any per50n5 connected with them. hav8 receiv8d any r8muneration from the chanty ¢Juring the year or the pVIouS year. Trust•es' 8xp#nsos During the par Mrs C H Compton rece+vèd £2CKJ {2023.. £2001 lor secretarial expenses and stationery. Page 11
S R and P H Southall Trust Notes to the Financial Statements for the Year Ended 5 April 2024 (Continued 7 Taxatlon The ¢harity is a registered charty and is therefore exempt from laXOn. 8 Flxed ass•t Instments 2024 2023 Other inveslments 5.840,501 5.737.950 Other InYèstm•nts Listed Inv•strnents Totsl Cost or Valuatlon Al 6 Aprfl 2023 Revaluation Addilions DisKwls At 5 April 2024 5.737,948 5,737,948 209,880 209,880 432.115 432.115 539.442 539.442 5,840,501 5.840,501 Nèt book value At 5 April 2024 s,840,501 5.840,501 At 5 Apr 2023 5.737,948 5.737.948 The investrnenl portfdio managed by brokers within the United Kingdom inchjdes investments both wrthin the United ngdorn 135% of market valu81 and outside the United Kingdom 165% of market value). No indivkdu81 Invgstrnents represgrited morg than 4Y. of tot81 value 01 inv8Stm8n&. 9 Debto 2024 2023 Accrued income 38,501 32,039 10 Creditors: amourbts falling due within one year 2024 2023 Accruals 5,700 5,500 Pago 12
S R and P H Southall Trust Notes to the Financlal Slatements for the Year Ended S April 2024 (continuèd) 11 Funds Balance at 6 Aprl 21123 Other Resouie r•cognl$ed expended galnsl{losses) Balance at 5 April 2024 Incoming resoureos Unrtrstricted funds General fund 6,096,597 145.861 182.710 300,641 6.360.389 Balanc• at 6 April 2022 Other ReSoue$ recognlsed expendgd g•lns111055es1 Balance at S Aprfl 2023 Incomlng resources Unrestrlcted funds Genernl General fund 6.424,420 315.383 141,537 153977> 6,096,597 12 Analysls of net assets between funds Unrestrlcted lunds G8n•ral Total funds at 5 Aprll 2024 Fixed asset investrnents Current a55ets Current Ilablliues 5,840,501 525,588 5,700 5.840,501 525.588 5,700 Total net assets 6,360,389 6.360,389 13 Analysls of not funds Ai 6 Aprfl 2023 Financing cash flows Al 5 Apdl 2024 Cash at bank 8nd in hand 332,108 154,978 487,086 Nel debl 332,108 154.978 487,086 14 Related party tranSaL*•ons There w&r8 no related party transactions in thè year. Page 13
S R and P H Southall Trust Detailed Statement of Financial Activities for the Year Ended 5 April 2024 Total 2024 Total 2023 lftcome and Endowmonts from.. Investment income lanaly58d bebw) 145,862 141,537 Total income 145,862 141,537 Expenditure on- Ralslng fund3 lanalysed below} Charftsble actSwlFes {8nalysed below) Total endIture Galnsllosses on nvesknent assets {anatysed iEt(Av) Net incofflellexp8ndrturel Nel rnovement in funds 135,610) 147,100 137,8171 116.160 (182,7101 300,641 1153,9771 315.383 263,793 327.823 263,793 {327.8231 Re¢onclliation of funds Total funds brought fotward Total funds carrsed forward 6,096,596 6,424,420 6,360,389 6,096,597 Thls pagg do85 not form parl ofth8 5t8tthory fin8nclal stat8m8nts. Page 14
S R and P H Southall Trust Detailed Statement of Financial Actlvitles for the Year Ended 5 Aprll 2024 (continued) Tot31 2024 Total 2023 Investment In¢ome In¢ome from listed invethents Bank interest recelvab18 144,430 1,432 145,862 141,269 268 141,537 R•ising fvnds P¢xtfolio management cosls 35.610 37,8171 37,817 35,610 haritablo a¢tlvltles Gr8nls payable - institutions Secrel8rial Accountancy fees 1143.700) I2> 3,200 1113,0001 12001 2.960 147.1 116,16Jl Gain&qtrsses on Investmanl assgts IProfitl11055 on sale ol tangible fixed asset investments Funds- unrÈalised gainnoss on investment a55ets 90,761 209,880 133,0181 1282,3651 315383 300,641 This pe does not fomi part ol the si8lLrtory financial statements. Page 15