CHARITY REGISTRATION NUMBER: 223794
FOUR WINDS TRUST
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2021
SAINT AND CO
Chartered Accountants 4 Mason Court Gillan Way Penrith 40 Business Park Penrith Cumbria CA11 9GR
Four Winds Trust
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 2 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
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Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2021
Reference and administrative details
| Registered charity name | Four Winds Trust |
|---|---|
| Charity registration number | 223794 |
| Principal office | 23 Three Elms Road |
| Hereford | |
| HR4 0RH | |
| The trustees | Mrs J L A Cadbury |
| Mr J N Gillett | |
| Miss R Cadbury-Simmons | |
| Theodora Cadbury | |
| Michael Bull | |
| Secretary | Mrs J L A Cadbury |
| Independent examiner | Ian Thompson, BA(Hons), FCA |
| 4 Mason Court | |
| Gillan Way | |
| Penrith 40 Business Park | |
| Penrith | |
| CA11 9GR | |
| Stockbrokers | Rathbone Greenbank Investments |
| 10 Queen Square | |
| Bristol | |
| BS1 4NT | |
| Principal bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
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Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2021
The trustees present their annual report with the financial statements of the charity for the year ended 31 December 2021. This report should be read in conjunction with the Trust Information given on page 2.
Objective of the charity
The objective of the charity is best described in a statement made by Henry Cadbury, the founder of the Trust: “After twenty three years of life in Fleet Street and six months at Toynbee Hall in Whitechapel, I had always hoped that in some way any result of my work might be to give those living in cities a better chance to enjoy nature and the beauties of the countryside.”
Achievements and performance
The main achievements in the year are the grants offered and paid out to support others to enjoy nature and the beauty of the countryside.
Financial review
The charity is pleased with how the charity’s funds are being managed since changing stockbrokers to Rathbones. The income from these investments help to cover the expenditure incurred by the charity in the year.
Reserves policy
The charity held £807,924 in total funds (2020: £725,274). The original endowment of £72,975 is classified separately. The funds have increased by a total of £79,650 in the financial year.
The charity holds a healthy bank balance of £44,313.
The level of reserves is monitored and reviewed by the trustees as necessary and at least once each year.
Structure, governance and management
Governing document
The charity is a registered charity and is governed by a constitution dated 18 June 1963.
Organisational structure
The Four Winds Trust as a registered charity in England and Wales.
Method adopted for the recruitment and appointment of new Trustees
The Trustees of the charity are determined by the trustees at the annual general meeting. The board of trustees is open to individuals who are interested in furthering the works of the charity and meet the approval of the current board of trustees.
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Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2021
Trustees’ Responsibilities Statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK 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 adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. 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.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Jane Cadbury Secretary
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Four Winds Trust
Independent examiner’s report to the trustees of Four Winds Trust
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of The Four Winds Trust ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 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.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ian Thompson BA(Hons), FCA Independent Examiner
4 Mason Court Gillan Way Penrith 40 Business Park Penrith CA11 9GR
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Four Winds Trust
Statement of Financial Activities
Year ended 31 December 2021
| Page No. Incoming resources Net dividends/interest 9 Bank interest Realised investment gains Total income Resources expended Charitable grants 10 Administration expenses 11 Total expenditure Net income/(outgoing) resources before transfers Unrealised gain/(loss) on investments 13 Fund balances brought forward at 01 January 2021 Fund balances carried forward at 31 December 2021 |
Unrestricted funds Totals Totals 2021 2020 £ £ 8,175 7,107 - 25 20,219 (4,467) 28,394 2,665 15,383 18,538 8,769 8,996 24,152 27,534 4,242 (24,869) 78,408 83,950 725,274 666,193 807,924 725,274 |
Unrestricted funds Totals Totals 2021 2020 £ £ 8,175 7,107 - 25 20,219 (4,467) 28,394 2,665 15,383 18,538 8,769 8,996 24,152 27,534 4,242 (24,869) 78,408 83,950 725,274 666,193 807,924 725,274 |
|---|---|---|
| 2,665 | ||
| 18,538 8,996 |
||
| 27,534 | ||
| (24,869) 83,950 666,193 |
||
| 725,274 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Four Winds Trust
Statement of Financial Position
Year ended 31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Investments | 765,267 | 654,421 | |
| Current Assets | |||
| Cash in hand | 44,313 | 72,943 | |
| Creditors: amounts falling due within one year | 3 | 1,656 | 2,090 |
| --------------------------- | --------------------------- | ||
| Net current assets | 42,657 | 70,853 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 807,924 | 725,274 | |
| --------------------------- | --------------------------- | ||
| Net assets | 807,924 | 725,274 | |
| Funds of the charity | |||
| Original endowment | 72,975 | 72,975 | |
| Accumulated revenue | 734,949 | 652,299 | |
| ---------------------------- | ---------------------------- | ||
| Total funds at 31 December | 804,924 | 725,274 |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mrs J L A Cadbury Secretary
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 23, Three Elms Road, Hereford, HR4 0RH.
2. Statements of accounting policies
The financial statements have been prepared under the historical cost convention. Credit is taken for the income from net dividends when received. Credit is also taken for the recoverable tax or transitional relief relating to those dividends in the year in which they are received.
Charitable grants are accounted for when paid. The Trust’s commitment to making grants in the future is infrequent and not material .
3. Creditors: Amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Honorarium | - | 500 |
| Independent Examination and Accountancy | 1,656 | 1,590 |
4. Investments
The Charities Act 2011 and the Charities (Accounts and Reports) Regulations 1995 require investments to be stated at their current market value.
The Trust’s stockbrokers, Rathbone Greenbank Investments, valued the investments at 31[st] December and this valuation has been incorporated into the Accounts, the resulting increase or decrease in the value (the unrealised gain or loss) has been shown on the Statement of Financial Activities for the year.
5. Trustee remuneration and related parties
No trustee received any remuneration or reimbursement of expenses during the financial year.
There were no related party transactions in the financial year.
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Dividends/Interest earned
| Renewables Infrastructure Gp Kreditanst For Wie Vestas Wind Systems Rockwell Int Experian PLC Halma FDM Group Holdings BMO Funds Octopus Renew Infra. Trust Tomra Systems ASA St Modwens Legal and General Rathbone Unit Trust Royal London Unit Trust Impax Environmental Markets Aberdeen Standard Fund Pictet Funds Greencoat UK Wind Prudential PLC Intertek Group Spirax - Sarco Engineering Janus Henderson Rabobank Nederland Swiss Re AG ASML Holdings ASSA Abloy Treasury 1% Gilt Bonds Treasury Stock Interest Home Reit Plc Smith (DS) PLC Coats Group PLC Genuit Group PLC Eco Fin US Marshalls Group Deutsche Barn Finance Digital 9 Infrastructure Lombard Odier Funds £ |
603.11 105.00 57.20 107.92 89.06 111.19 232.20 332.17 375.35 57.54 136.50 609.45 774.45 471.27 332.86 262.84 68.40 479.74 83.52 185.15 153.76 37.57 270.00 224.87 72.65 79.38 122.00 87.47 165.00 435.60 252.51 140.80 92.53 89.10 281.25 105.00 90.00 |
|---|---|
| 8,174.41 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
| Charitable Grants Birmingham PHAB Blyth Sea Scouts Children's Adventurous Farm Trust Children's Country Holidays Clapham Common Boy Community Links Conservation Volunteer (H Bush) Conservation Volunteer (S Grange) Country Trust Cudham Activty Centre Derbyshire Wildlife Trust Forest of Avon Groundwork Sheffield Hereford Wildlife Trust John Muir Trust Kind annual promise Kind Liverpool Kingswood Trust New Routes Integration Noah's Ark Children's Venture Outward Bound Trust Peter Le Merchant Trust Royal Forestry Sefton Children's Holiday Fund Sheffield & Rotherham Wildlife Trust St Andrews Youth Group St Madoc Centre St Werburghs City Farm St Werburghs Farm CP Sussex Wildlife Swansea Comm Sweet Tree Farming Toynbee Hall Trust Links Ltd Warwickshire Wildlife Trust Whirlow Hall Farm Trust Wild in the City Youth Trek Adventure Total |
2021 2020 2019 2018 2017 2016 1,444 1,000 1,080 675 1,350 1,224 1,000 2,000 1,500 400 1,250 1,500 1,500 1,000 1,000 1,000 1,000 1,000 1,000 1,500 1,500 1,500 1,500 1,500 1,500 1,400 1,320 1,320 1,000 1,000 1,000 1,000 1,000 3,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 2,000 1,491 1,444 750 1,000 750 1,000 1,000 1,000 1,000 1,092 1,000 1,068 1,044 1,044 1,000 400 500 500 500 500 1,000 1,500 1,200 1,200 1,200 1,000 1,000 1,000 1,000 950 1,000 1,250 1,000 1,100 1,100 1,100 1,000 1,000 1,000 1,000 1,000 1,000 1,500 1,000 1,000 500 400 1,000 1,000 750 770 1,000 1,000 400 500 400 400 |
|---|---|
| 15,383 18,538 18,613 14,994 21,094 26,644 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Administration Expenses
| Administration Expenses | |
|---|---|
| Saint & Co Accountants Rathbones Admin Fees Bank Charges ICO Honorarium Banked 23 March 2021 ICS |
£ 1,656 6,586 96 35 500 |
| 8,873 (104) |
|
| 8,769 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Purchase of shares
| 9,000 Deutsche Bahn Finance 19,000 BMO Inv Funds 7,000 Digital 9 Infrastructure 1,000 Lombard Odier Funds 75 Mirova Funds 2,639 Treasury Stock 5,631 Treasury Stock 20,000 Aberdeen Standard Fund 6,000 Harmony Energy Income 3,190 Home Reit PLC £ |
10,477.78 25,289.00 7,000.00 10,429.20 7,559.25 2,639.87 5,250.55 12,720.00 6,000.00 3,477.10 |
|---|---|
| 90,842.75 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Unrealised gains on investments
| Opening Valuation Add Purchase of Shares Less Sale of Shares (at cost) Value of Investments as at 31 December 2021 Unrealised gain on Investments (Page 4) £ |
654,421 90,843 |
|---|---|
| 745,264 (58,405) |
|
| 686,859 765,267 |
|
| 78,408 |
13
Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Sale of shares
| Name of Company 40,000 Aberdeen Std Mgr 4,500 Impax Funds PLC 6,859 Lion trust Inv. Ltd 18 Jackson Financial Inc 2,500 Octopus Renew Infra 3,500 St Modwen Prop PLC BMO INV Funds |
Proceeds Cost Profit/(Loss) 24,668.00 24,064.70 603.30 10,719.00 6,873.14 3,845.86 20,338.91 9,613.00 10,725.91 354.50 0.00 354.50 2,837.93 2,542.63 295.30 19,600.00 15,312.00 4,288.00 105.36 0.00 105.36 |
|---|---|
| 78,623.70 58,405.47 20,218.23 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2021
Charitable Donations
Name of Company
| Country Trust Toynbee Hall Champions Outward Bound Community Links Trust Kingswood Trust Royal Forestry TCV Hollybush Conservation Volunteer (S Grange) Sheffield/Rotherham Wildlife Trust St Andrews Centre Kind Forest of Avon Trust Cudham Activity Wild in The City £ |
1,400 400 1,092 2,000 1,491 500 1,000 1,500 1,000 1,000 1,000 1,000 1,000 1,000 |
|---|---|
| 15,383 |
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