CHARITY REGISTRATION NUMBER: 223794
FOUR WINDS TRUST
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2022
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 2022
| 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 |
1
Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2022
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 2022
The trustees present their annual report with the financial statements of the charity for the year ended 31 December 2022. 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 £639,520 in total funds (2021: £802,436). The original endowment of £72,975 is classified separately. The funds have decreased by a total of £162,916 in the financial year.
The charity holds a healthy bank balance of £57,998.
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 is 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 2022
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;
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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 11 March 2023 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 2022
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 2022.
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 2022
Unrestricted funds
| 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 2022 Fund balances carried forward at 31 December 2022 |
Totals 2022 £ 10,967 25 33,283 44,275 19,137 9,094 28,231 16,044 (178,960) 802,436 639,520 |
Totals 2021 £ 8,175 - 20,219 |
|---|---|---|
| 28,394 | ||
| 20,871 8,769 |
||
| 29,640 | ||
| (1,246) 78,408 725,274 |
||
| 802,436 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
6
Four Winds Trust
Statement of Financial Position
Year ended 31 December 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Investments | 583,761 | 765,267 | |
| Current Assets | |||
| Cash in hand | 57,998 | 44,313 | |
| Creditors: amounts falling due within one year | 3 | 2,239 | 7,144 |
| --------------------------- | --------------------------- | ||
| Net current assets | 55,759 | 37,169 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 639,520 | 802,436 | |
| --------------------------- | --------------------------- | ||
| Net assets | 639,520 | 802,436 | |
| Funds of the charity | |||
| Original endowment | 72,975 | 72,975 | |
| Accumulated revenue | 566,545 | 729,461 | |
| ---------------------------- | ---------------------------- | ||
| Total funds at 31 December | 639,520 | 802,436 |
These financial statements were approved by the board of trustees and authorised for issue on 11 March 2023, 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 2022
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
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Independent Examination and Accountancy | 1,739 | 1,656 |
| Grants to be paid | - | 5,488 |
| Honorarium | 500 |
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
Jane Cadbury received an honorarium payment of £500 for her work for the Charity.
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 2022
Dividends/Interest Earned
| ABRDN OEIC V Advanced Drainage System Inc ASML Holdings ASSA Abloy Coats Group Plc CT UK ICVC V Responsible Deutsche Bahn Finance Digital 9 Infrastructure ECOFIN US Review Infrastructure Experian Plc FDM Group Holdings Plc Genuit Group Plc Greencoat UK Wind Halma Plc Hannon Armstrong Sust Harmony Energy Income TST Home REIT Impax Asset Mgmt Group Impax Environmental Mkts Interest Intertek Group Plc Janus Henderson Investments Kainos Group Ltd Kreditanst Fur Wie Kurita Water Industries Legal & General Group Lombard Odier Funds Londonmetric Property Plc Marshalls Group Plc MIPS AB Octopus Renew Pictet Funds Prudential Plc Rabobank Nederland Rathbone Unit Trust Mgmt Renewables Infrastructure GRP Rockwool A/S Royal London Unit Trust Mgrs Schroder Investment Mgmt Smith (DS) Plc Spirax-Sarco Engineering Plc SSE Plc Swiss RE AG Tomra Systems Treasury Vesta Wind Systems VISA Inc Xylem Inc £ |
537.12 19.64 129.95 81.88 333.55 226.01 187.50 420.00 316.87 107.75 189.00 196.80 508.20 118.95 167.55 120.00 403.34 499.10 122.16 198.85 185.15 54.78 107.63 61.25 113.99 639.88 140.00 228.80 163.10 33.85 325.92 16.00 103.83 270.00 579.97 555.90 114.00 625.10 55.34 540.00 175.01 307.02 231.58 113.97 195.67 12.08 55.38 77.99 |
|---|---|
| 10,967.41 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
| Charitable Grants Birmingham PHAB Children's Adventure Farm Trust Community Links Conservation Volunteer (H Bush) Conservation Volunteer (S Grange) Country Trust Cudham Activty Centre Derbyshire Wildlife Trust Forest of Avon Groundwork Sheffield John Muir Trust Kind annual promise Kind Liverpool Kingswood Trust Macaroni Wood New Routes Integration Noah's Ark Children's Venture Open Country RCS 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 Swansea Comm The Cart Shed Toynbee Hall Woodcraft Folk Woodland Trust Woodle Trust Wild in the City Youth Trek Adventure Total |
2022 2021 2020 2019 2018 2017 1,444 1,782 1,488 1,080 675 1,350 1,100 2,000 1,500 400 1,250 1,500 1,100 1,000 1,000 1,000 1,000 1,000 1,650 1,500 1,500 1,500 1,500 1,500 1,560 1,400 1,320 1,320 1,000 1,000 1,000 1,000 3,000 1,000 1,000 1,000 1,000 1,100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,569 1,491 1,444 750 1,000 100 1,000 1,000 1,000 1,000 1,000 2,000 1,092 1,000 1,068 1,044 1,044 400 1,100 500 500 500 500 1,500 1,200 1,200 1,000 1,000 1,000 1,000 1,000 1,250 1,000 1,100 1,100 1,000 1,000 1,000 1,000 1,000 1,500 1,000 1,326 1,000 400 1,000 1,650 1,100 1,000 1,000 400 500 400 |
|---|---|
| 19,137 20,871 18,538 18,613 14,994 21,094 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
Administration Expenses
| Administration Expenses | |
|---|---|
| Saint & Co Accountants Rathbones Admin Fees Bank Charges Honorarium ICO Meeting & Travel Expenses |
£ 1,739 6,148 81 500 35 591 |
| 9,094 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
Purchase of shares
| 18900 Schroder Investment MGMT 3200 Londonmetric Property Plc 470 Kainos Group Ltd 510 SSE Plc 330 Infineon Technologies 120 MIPS AB 51 Autodesk Inc 66 VISA Inc 88 Advanced Drainage System Inc 120 Xylem Inc 210 Hannon Armstrong 60 Marshalls Group 22 Robeco Capital 2761.628 Impax Funds 350 CT Lux 300 Kurita Water Industries 800 Stewart Investors Treasury ¼% Gilt 340 Relx Plc 700 Genuit Group Plc 1580 Legal & General Plc 80 Mirova Funds 1400 Aegon Asset Mgmt 98 Legg Mason Global Funds 400 Lombard Odier Funds Treasury ¼% Gilt Treasury 1% Gilt 2000 Brown Advisory Funds 102 Legg Mason Global Funds £ |
9,174.06 7,969.88 6,345.40 7,986.13 7,713.29 6,659.27 8,118.71 10,305.48 8,211.54 7,931.79 7,676.07 494.00 10,062.80 6,009.30 5,001.50 8,856.09 6,057.44 6,456.28 7,808.55 2,371.25 4,118.21 6,659.20 12,364.80 13,407.38 3,625.40 3,617.58 5,730.35 23,980.00 12,605.16 |
|---|---|
| 227,316.91 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
Unrealised gains on investments
| Opening Valuation Add Purchase of Shares Less Sale of Shares (at cost) Value of Investments as at 31 December 2022 Unrealised gain/(loss) on Investments (Page 4) £ |
765,267 227,317 |
|---|---|
| 229,863 | |
| 762,721 583,761 |
|
| (178,960) |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
Sale of shares
| Name of Company 60 Schroder Investment Mgmt 3000 Deutsche Bahn Finance 10300 Treasury 1/8% I/L Stock 8500 Treasury 0.5% Bonds 5300 Treasury 1% Gilt Bonds 10300 Treasury 1/8% I/L Stock 5000 Kreditanst Fur Wie 19000 CT UK ICVI 28000 ABRDN OEIC V 7754 Royal London Unit Trust Mgrs 8064 Rathbone Unit Trust Mgmt 1500 Brown Advisory Funds 2990 Home Reit Plc 10 ASML Holdings 2800 Octopus Renew 400 Vesta Wind Systems 330 Infineon Technologies 180 Tomra Systems 4600 Impax Funds 5400 Liontrust Investments Ltd 920 Stewart Investors 33 Advanced Drainage System Inc 900 Impax asset Mgmt Group 2405 Brown Advisory Funds Rabobank Nederland |
Proceeds Cost Profit/(Loss) 9,217.43 6,956.41 2,261.02 3,241.30 3,492.59 (251.29) 14,935.53 13,969.38 966.15 8,499.73 8,518.17 (18.44) 5,304.93 5,409.63 (104.70) 14,902.58 13,820.54 1,082.04 4,895.86 5,165.60 (269.74) 23,009 25,183.64 (2,174.64) 17,847.20 17,246.38 600.82 8,785.48 8,807.27 (21.79) 8,033.11 8,189.94 (156.83) 24,823.80 16,513.07 8,310.73 3,440.00 3,077.68 362.32 4,255.71 2,215.45 2,040.26 3,207.34 2,811.76 395.58 8,506.43 6,390.28 2,116.15 7,241.76 7,713.29 (471.53) 3,588.20 2,017.52 1,570.68 10,005.00 8,817.16 1,187.84 13,670.64 13,106.03 564.61 7,909.15 6,510.15 1,399.00 3,960.05 3,079.33 880.72 5,272.76 2,376.00 2,896.76 36,593.70 26,475.96 10,117.74 12,000.00 12,000.00 - |
|---|---|
| 263,146.69 229,863.23 33,283.46 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2022
Charitable Donations
Name of Company
| Country Trust Kingswood Trust Royal Forestry Conservation Volunteer (H Bush) Children’s Adventure Farm Trust Woodcraft Folk The Cart Shed Noah’s Ark Children’s Venture KIND Woodland Trust Community Links John Muir Trust Open Country RCS Conservation Volunteer (S Grange) Macaroni Wood 2021 additional £ |
1,560 1,569 1,100 1,100 1,782 1,650 1,326 1,000 1,000 1,100 1,100 1,100 2,000 1,650 100 |
|---|---|
| 19,137 |
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