Registered Charity Number 224590
THE SHAW LANDS TRUST
BARNSLEY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
THE SHAW LANDS TRUST
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
| PAGES | |
|---|---|
| Legal and administrative information | 1 |
| Annual report of the Trustees | 2 |
| Independent examiner's report to the Trustees | 4 |
| Statement of financial activities | 5 |
| Balance Sheet | 6 |
| Notes to the financial statements | 7 |
THE SHAW LANDS TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
YEAR ENDED 30 JUNE 2024
| THE BOARD OF TRUSTEES | |
|---|---|
| Ex-officio | The Worshipful the Mayor |
| Representative trustees | M Yaxley Price (Resigned 10 April 2024) |
| Cllr K Mitchell | |
| Cllr J Hayward | |
| Cllr K Richardson | |
| Cllr N Sumner | |
| Cllr C Pickering | |
| Cllr C Makinson | |
| Cllr J Higginbottom (Resigned 10 April 2024) | |
| Co-optative trustees | Mr J S Bostwick |
| Mr M R Bird | |
| Mrs A C Fletcher | |
| Mr B R Eldred | |
| Dr E A Norris | |
| Mrs E Worth | |
| Miss J Leech | |
| Mr K Williams | |
| CLERK | Mr A Leece |
| c/o Ridley & Hall Solicitors | |
| 35 Church Street | |
| Barnsley | |
| S70 2AP | |
| INDEPENDENT EXAMINERS | Gibson Booth |
| Chartered Accountants | |
| And Statutory Auditors | |
| New Court | |
| Abbey Road | |
| Shepley | |
| Huddersfield | |
| HD8 8BJ | |
| BANKERS | Barclays Bank plc |
| 23 Queen Street | |
| Barnsley | |
| S70 1RJ | |
| STOCKBROKERS | Investec Wealth and Investment Limited |
| Quayside House | |
| Canal Wharf | |
| Leeds | |
| LS11 5PU |
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THE SHAW LANDS TRUST
ANNUAL REPORT TO THE TRUSTEES
YEAR ENDED 30 JUNE 2024
The Board of Trustees have pleasure in presenting their report and the financial statements of the Charity for the year ended 30 June 2024.
The legal and administrative information set out on page 1 forms part of this report.
STRUCTURE , GOVERNANCE AND MANAGEMENT
Governing document
The Charity is governed by its Trust Deed and is registered with the Charity Commission (number 224590) .
Organisation structure
The Trustees meet twice a year in April and October in order to consider applications for assistance. The Chairman has the delegated responsibility to consider applications which, because of their nature, require an immediate response. The day to day activities of the Charity are dealt with by the Clerk to the Charity.
Clerk
The administration of the charity is conducted by its clerk, Mr A Leece, of Messrs Ridley & Hall Solicitors, who receives an annual remuneration of £4,000 plus VAT and disbursements.
OBJECTIVES AND ACTIVITIES
The objective of the Charity is to apply its income for two clearly defined purposes, namely:
-
The payment of not less than two thirds of its income in supporting and maintaining prescribed local institutions and charities in the Ancient Township of Barnsley, and
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2 The payment of not more than one third of its income in awarding scholarships, bursaries, maintenance allowances or grants for certain specified educational purposes to beneficiaries being persons who have not attained the age of 25 years, who are resident within the Barnsley Metropolitan Borough, or have for not less than two years been in attendance at any school within the Barnsley Metropolitan Borough and who, in the opinion of the Trustees, are in need of financial assistance.
The trustees have considered the Charity Commission's general guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE AND FINANCIAL REVIEW
The Statement of Financial Activities shows net income of £2,783 (2023: £14,041), with the Charity's investment portfolio showing an increase in market value of £108,266 (2023: decrease of £52,162) over the year. Details of shares sold during the year are provided in note 7 to these accounts, realising a profit of £45,114 (2023: £20,632).
The grants and donations made in the year to 30 June 2024 were:
| Fixed grants Additional grants Education awards |
2024 £ 110 21,944 6,000 28,054 |
2023 £ 110 20,951 8,000 |
|---|---|---|
| 30,755 |
Further details of grants and donations made during the year are included in notes 3 to 5 to these accounts.
Grant making policy
In considering grants to locally based charities, preference is usually given to charities working with, or for, young people. Each charity's accounts are carefully scrutinised before a decision upon an award is taken. In considering educational grants, the financial circumstances of each applicant is considered and preference given to applicants whose parental income is low.
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THE SHAW LANDS TRUST
ANNUAL REPORT TO THE TRUSTEES
YEAR ENDED 30 JUNE 2024
Investment policy
The charity's monies may be invested at the Trustees discretion and without limitation. The Trustees employ the stockbrokers Investec Wealth and Investment Limited to manage their investment portfolio.
Reserves policy
The trustees do not believe that it is necessary to have surplus funds since all management and administration costs of the charity are covered by investment income received.
THE TRUSTEES
The trustees who served the charity during the year were as follows:
The Worshipful the Mayor (ex-officio)
M Yaxley Price (Resigned 10 April 2024)
Cllr K Mitchell Cllr J Hayward Cllr K Richardson Cllr N Sumner Cllr C Pickering Cllr C Makinson Cllr J Higginbottom (Resigned 10 April 2024)
The following served as co-optative trustees:
Mr J S Bostwick
Mr M R Bird
Mrs A C Fletcher Mr B R Eldred Dr E A Norris Mrs E Worth Miss J Leech Mr K Williams
Signed on behalf of the Board of Trustees by:
MR J S BOSTWICK Trustee
Approved by the trustees on …............................
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THE SHAW LANDS TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
YEAR ENDED 30 JUNE 2024
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2024 which are set out on pages 5 to 11.
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charity Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 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 2. the accounts do not accord with those records; or
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the accounts 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.
PATRICK HEATON FCA Independent examiner
For and on behalf of GIBSON BOOTH Chartered Accountants And Statutory Auditors New Court Abbey Road North Shepley Huddersfield HD8 8BJ
…......................
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THE SHAW LANDS TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2024
| Note Investment income Narrower range 2a Wider range 2b Bank interest Total income EXPENDITURE ON: Charitable activities Grants payable in furtherance of the charity's objects: Fixed grants 3 Additional grants 4 Education awards 5 Governance costs: Stockbrokers' fees Insurance Professional fees Accountancy Total expenditure NET INCOME Realised profit on disposal of investments 7 Unrealised gain/(loss) on revaluation of investments 7 NET MOVEMENT IN FUNDS Total funds brought forward Total funds carried forward |
2024 £ 134 52,107 426 52,667 110 21,944 6,000 28,054 15,535 176 4,680 1,440 21,830 49,884 2,783 45,114 108,266 156,163 1,793,894 1,950,057 |
2023 £ 50 59,840 356 |
|---|---|---|
| 60,246 | ||
| 110 20,951 8,000 |
||
| 29,061 15,589 175 - 1,380 |
||
| 17,144 | ||
| 46,205 | ||
| 14,041 20,632 (52,162) |
||
| (17,489) 1,811,383 |
||
| 1,793,894 |
All movements are in Unrestricted Funds
The notes on pages 7 to 11 form part of these accounts
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THE SHAW LANDS TRUST
BALANCE SHEET
YEAR ENDED 30 JUNE 2024
| Note INVESTMENTS Narrower range 7a Wider range 7b CURRENT ASSETS Bank current account Bank deposit accounts Dealing account CURRENT LIABILITIES Professional fees Accountancy fees NET CURRENT ASSETS NET ASSETS FUNDED BY Unrestricted funds |
2024 £ 175,836 1,649,397 1,825,233 113,044 14,070 1,490 128,604 2,400 1,380 3,780 124,824 1,950,057 1,950,057 |
2023 £ 36,965 1,645,964 |
|---|---|---|
| 1,682,929 97,895 13,880 5,430 |
||
| 117,205 | ||
| 4,920 1,320 |
||
| 6,240 | ||
| 110,965 | ||
| 1,793,894 | ||
| 1,793,894 |
These accounts were approved by the Board of Trustees on the …........................ and are signed on their behalf by:
MR J S BOSTWICK Trustee
The notes on pages 7 to 11 form part of these accounts
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THE SHAW LANDS TRUST
NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2024
1 GENERAL INFORMATION
The Shaw Lands Trust is an unincorporated charity registered in England and Wales. The address of the principal office is 35 Church Street, Barnsley, S70 2AP. The trust constitutes a public benefit entity as defined by FRS 102.
2 STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland issued on October 2019 and the Charities Act 2011.
3 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention as modified by the revaluation of certain financial assets measured at fair value through income and expenditure. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies consistently applied in the preparation of these financial statements are set out below.
Going concern
There are no material uncertainties about the charity's ability to continue.
Incoming resources
Investment income is accounted for in the period in which the charity is entitled to receipt.
Resources expended
Expenditure is included on an accruals basis, inclusive of VAT.
Grants payable are charged in the period when the offer is conveyed to the recipient.
Management and administration comprises costs for the running of the charity itself as an organisation.
Realised and unrealised gains on investment assets
Realised gains are derived by deducting the fair value of an investment at the start of the period from the sale proceeds received.
Unrealised gains relate to the movement in the fair value of the charity's investment portfolio from the previous to the current balance sheet date.
Investments
Investments are stated at fair value.
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THE SHAW LANDS TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 30 JUNE 2024
2 INVESTMENT INCOME
| a Narrower range UK Govt 0.25% b Wider range Aberdeen UT Mgrs Asia Pacific Aberdeen Oeic Astrazeneca Group plc Anglo America Aviva Investors Fund BMO Commercial BHP Billington plc Blackrock Smaller Companies Trust BP plc Charities Property Fund Compass Group CT I Sicav Diageo plc Experian Group FIL Investment Services (UK) Findlay Park First State Investments Stewart inv Asia Pacific Hipgnosis Songs Henderson Investment HICL Infrastructure Ltd INT Public Partner Invesco Ishares Vi Plc JH Investment Funds JP Morgan Asset Management UK Jupiter UT Lazard Gbl Legal & General Londonmetric Prop Muzinich Funds Morant Wright Polar Capital Premier Portfolio Premier Milton Primary Hlth Prop Prudential Corp plc Relx Plc Rio Tinto plc Royal London Shell Plc Schroder plc SDCL Energy SSE Plc Tesco Twentyfour Income Threadneedle (LUX) The Renewables Unilever plc |
2024 £ 134 134 - - 323 930 1,290 2,340 - 958 - 601 190 1,374 386 267 990 44 - 587 - - 2,762 2,191 440 1,207 3,390 1,480 268 1,768 528 1,722 1,120 688 - 2,105 1,845 326 - 1,586 4,097 - 1,729 - 1,505 - 6,474 1,350 1,795 935 51,588 |
2023 £ 50 |
|---|---|---|
| 50 | ||
| 1,089 413 428 457 1,242 2,600 1,666 821 327 1,051 - - 533 295 3,750 - 162 1,717 1,037 2,878 3,839 - - 177 3,334 2,072 - 1,684 - 716 925 363 839 1,229 1,131 444 371 2,808 3,454 1,629 1,969 991 1,784 331 5,984 660 1,710 930 |
||
| 59,840 |
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THE SHAW LANDS TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 30 JUNE 2024
3 FIXED GRANTS
| Barnsley & Distict General Hospital St Mary's Church, Barnsley The Governors of Holgate School, Barnsley 4 ADDITIONAL GRANTS Voted and distributed 148 Barnsley Squadron Air Training Corps Action for Autism & Aspergers Barnsley Barnardos Barnsley Sea Cadets Barnsley Blind & Partially Sighted Barnsley District Talking Newspaper Barnsley Hospice Barnsley Hospital Charity Barnsley Independent Alzheimers & Dementia Society Barnsley Museums & Heritage Trust Barnsley Riding for the Disabled Barnsley Samaritans Barnsley Youth Choir Beacon South Yorkshire British Dyslexics Caudwell Children Dial Barnsley FareShare Yorkshire Grimethorpe Activity Zone Listening Books Parkinson's UK Barnsley & District Branch React SSAFA The Exodus Project The Cooper Art Gallery The Shaw Lane Foundation YMCA Yorkshire Air Ambulance 5 EDUCATION AWARDS A Mitchell C Johnson E Haigh E Schofield H Sutton I Schofield K Woodmoor L J Bailey S A Proud L Grayson Y Jackson |
2024 £ 25 35 50 110 2024 £ 1,500 (1,500) - 1,500 - 1,500 1,500 1,000 1,500 - 1,500 1,000 1,500 - - - - 1,500 1,000 1,000 1,500 1,044 400 1,500 500 - 1,000 1,500 21,944 2024 £ 1,000 1,000 - - 1,000 - 1,000 - 1,000 1,000 - 6,000 |
2023 £ 25 35 50 |
|---|---|---|
| 110 | ||
| 2023 £ 1,500 1,500 1,000 500 1,500 1,500 - - - 1,000 - 1,000 1,500 1,000 1,000 1,030 1,000 1,500 - 1,000 - - 300 1,200 - 421 - 1,500 |
||
| 20,951 | ||
| 2023 £ - 1,000 1,000 1,000 1,000 1,000 1,000 - - 1,000 1,000 |
||
| 8,000 |
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THE SHAW LANDS TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 30 JUNE 2024
6 STAFF COSTS AND TRUSTEES' REMUNERATION
There were no employees of the Charity during the year.
Trustees received no remuneration and were not reimbursed for any of their expenses in the year.
| 7 INVESTMENTS Market value of investments brought forward Accumulation dividends Acquisitions at cost Sale proceeds from disposal Realised profit on disposal of investments Unrealised gain/(loss) on revaluation of investments Market value of investments carried forward |
2024 2023 £ £ 1,682,929 1,615,879 - 1,397 615,993 696,272 (627,069) (599,088) 45,114 20,632 108,266 (52,162) 1,825,233 1,682,929 |
|---|---|
The realised profit on disposal of investments is analysed as follows:
| UK (Govt of) 0.125% UK (Govt of) 0.25% Anglo American BH Macro Ord Npv Charities Property Fund Experian Group Fil Inv Svcs UK Spec Situations Findlay Park Funds Plc Henderson Global Inv Europe Selected Opps I Inc Hipgnosis Songs Morant Wright Premier Portfolio PM UK Mlti Cap Premier Portfolio PM UK Opportunities RBS (Luxembourg) Jupiter Gbl Dynamic Bd D Rio Tinto plc Scottish & Southern Energy plc Trojan Inv Fds Unilever plc |
Proceeds £ 50,985 38,437 8,483 39,288 24,456 6,486 22,433 69,901 65,895 46,576 24,736 38,203 44,791 39,631 19,165 23,028 52,985 11,590 627,069 |
Market value £ 50,190 36,965 10,923 42,190 25,154 6,095 15,201 57,543 60,844 35,626 17,861 38,571 39,460 37,947 18,844 22,908 52,883 12,749 581,955 |
Gain/ (loss) £ 796 1,472 (2,440) (2,902) (698) 391 7,232 12,358 5,051 10,950 6,875 (368) 5,330 1,684 321 120 102 (1,159) |
|---|---|---|---|
| 45,114 |
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THE SHAW LANDS TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 30 JUNE 2024
| No. a Narrower range UK (Govt of) 0.25% - £ UK (Govt of) 4.5% 169,442 £ No. b Wider range Astrazeneca Group plc 142 Anglo American 933 Aviva Investors 35,135 BH Macro Ord Npv - Blackrock FM 17,132 Blackrock Smaller Companies Trust 2,250 BMO Commercial 50,000 BNP Paribas Issuan 677% 28,000 Brown Advisory 3,500 Charities Property Fund - Compass Group 677 Diageo plc 475 Experian Group 473 Fedrtd Hrms Inv FH Asia 20,000 FIL Investment Services (UK) Spec Situations 20,558 Findlay Park Funds Plc - Gemcap Investment 44,130 Henderson Global Investments - Hipgnosis Songs - INT Public Partner 34,824 Invesco European 25,500 Ishares Vi Plc 3,858 JP Morgan AM UK 93,102 JP Morgan Asset Management UK 44,919 Lazard GI Active 250 Legal & General 9,000 Londonmetric Prop Ord 11,000 Medicx Fund Ltd 27,132 Morant Wright 929 Muzinich & Co 748 Morgan Stanley 27,976 Polar Cap Fds Plc Global Ins 5,150 Polar Capital Funds PLC Healthcare 618 Premier Portfolio Mlti Cap - Premier Portfolio Opporutinites 12,616 Prudential Corp plc 1,975 RBS (Luxembourg) - Rio Tinto plc 312 Royal London 65,250 Schroder plc 54,284 Scottish & Southern Energy plc 756 The Renewables Infrastructure Group 25,000 Threadneedle Investments UK 7,911 Trojan Inv Fds - Twentyfour Income 65,000 Unilever plc 329 Vanguard Funds 1,213 |
Cost at 30.06.24 £ - 175,669 175,669 Cost at 30.06.24 £ - 29,015 64,510 - 46,034 10,293 50,516 30,727 63,385 - 14,061 2,311 2,541 45,824 35,773 - 81,771 - - 53,327 55,034 18,042 63,889 36,969 33,373 25,723 18,230 28,307 11,943 70,151 35,353 34,980 34,429 - 46,878 - - 3,348 89,697 34,576 5,340 26,872 69,088 - 68,899 6,017 95,406 1,442,631 |
MV at 30.06.24 £ - 175,836 175,836 MV at 30.06.24 £ 17,544 23,346 72,747 - 52,873 32,670 39,575 56,364 66,710 - 14,627 11,824 17,437 49,394 38,813 - 89,862 - - 44,366 52,364 18,407 67,089 71,197 38,955 20,426 21,269 24,880 22,036 69,975 36,467 45,871 38,718 - 52,495 14,186 - 16,226 78,365 43,623 13,527 23,813 69,720 - 67,275 14,293 100,068 1,649,397 |
Cost at 30.06.23 £ 36,155 - 36,155 Cost at 30.06.23 £ - 44,223 39,537 49,571 - 10,293 50,516 30,727 - 25,295 - 2,311 3,626 45,918 41,698 16,287 60,434 35,707 50,934 53,327 55,034 - 63,889 17,083 33,373 25,723 - 28,307 25,711 56,172 - 35,020 34,429 50,841 85,842 - 47,434 7,405 89,697 34,576 14,126 26,872 65,223 53,436 68,899 11,521 - 1,491,017 |
MV at 30.06.23 £ 36,965 - |
|---|---|---|---|---|
| 36,965 | ||||
| MV at 30.06.23 £ 16,013 31,764 43,603 42,190 - 28,575 33,125 34,782 - 25,154 - 16,049 20,368 45,546 39,037 57,543 61,986 60,844 35,626 45,132 52,397 - 61,112 47,441 33,939 20,453 - 25,904 33,354 54,888 - 38,231 34,077 38,571 86,720 21,898 37,947 34,398 73,602 39,844 36,830 28,725 65,084 52,883 64,513 25,816 - |
||||
| 1,645,964 |
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