THE NOR[AN WHITELEY TRUST CHARITY NUMBER 226445 TRUSTEES REPORT AND FINANCIAL STATF.MENTS FOR THE YEAR F,NJ)ED 29jII TrEBRUARY 2024 CONTENTS PAGE Independent Examiner5 Report Statement of Financial Activities Balance Sheet 4.- 9. Notes to the Accounts APPENDIX Charity Information Trusiees Report
Page I THE NORIIAN WHrrELEY TRUST lTr•DEPELyDET EXAMINER'S REPORT TO THE TRLStEES OF THE YJ ORMAN WHITELEY TRU F R THE YEAR ENDED 29TU FEBRUARY 2024 I report to the Tnle¢S on my examination of the a¢rounts of the aLx)ve clwity (the Trust") for the year ended 29 February 2024 wbith are Set out on pages 2 to 8. REsPONsIBILITs ANT) BASIS OF REPORT As the C]wtty's Truslees. you are reswnsible for the preparntion of the accounts in accordance with the requirements of th¢ Cb8rities A¢t 2011 (*he Act"). I rep)rt in respect of my examination of the Trust's a¢counts carried out under section 145 of the 2011 Act and in Carrying out my exaJninati0 I have follo.ed all the applicable Directions given by the Charity COMls510n under section 145{5Xb) of the A¢L INDEPENDENT EXANqtNER'S STATEMEYr I have completed my examination. l ¢onfJrn] that no mAterial matters have come to my attenlion in ¢owi¢¢tion with the examination which gives me cause to believe that in. any material r¢spect'. the xcounting records were not kept in accordance with section 130 of the Charities Act,. OT th¢ accounts did not a¢¢ord with the arcoun¢ing records" or the accounts did not complv iviib the applicable requirements conceming the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 oth¢r than any r¢quir¢m¢nt that tbe a¢¢ounts gtve a 'trne and fair, view Mthicb is noi a matter ¢onsidered as part of an independent examination. I have Do concems and have come acr05s 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 accourkts to be reached. Rawcliffe and Co. Limited, Unit I, Barons Coury Graceways, Whitehitls Business PaTL Blackpool, FY4 5GP Date..
Page 2 THE NORMAN WHITELEY TRLST STATE•IENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDll¥G 29TH FEBRLARY 2024 Note 2024 2023 INCOMING RESOUR Covenanted and voluntary income tnvestment income Ex¢epiional income 203228 176.965 TOTAL INCOME 203228 176,965 RESOLRCES EXPENDED Direct charitable Charitable gifts Other Ex enditure Management and administrdtion io 126.454 89,050 37.733 TOTAL EXPENDITURE 164.187 118,440 Excess l Deficit of income over expendire for the year 39.041 58,525 STATEMENT OF OTHER RECOGNISED GAs Excess of income oyer expenditure for the year Investment gainslLosses.' Realised Unrealised 39.041 58,525 97.892 {58,82D NET MOVEMBNT tN FUNDS FOR THE YEAR TOTAL FUNDS BROUGHT FORlliARD LOSS ON TRANSFER OF LOAN TO GtFr 136,933 3,987,173 (302) 3,987,475 TOTAL FUNDS CARRIED FORWARD £4.1?4,I06 £3,987,173 The notes on pages 4 10 8 forn) part of th&se accounts.
Page 3 THE NORTr[ WHITELEY TRLIST BALANCE SHEET AS AT 29TH FEBRL'ARY 2024 Note 2024 2023 FIXED ASSETS Investtnents 3.807,058 3,634,871 CURREYf ASSETS Debtors C&8h at Bank and in Iwid 9,799 322,189 15,819 345,263 331,988 361.082 Less: NT LIABIL 14,890 8.730 NET CURRENf AS5ETSIILIABILITIES) 317.098 352,352 TOTAL AssEfs LESS CURRE LIABILITIES 4.124.156 3,987,223 CAPITAL Pernianenl EndoMTnent Fund Unrestricted funds 50 4.124.106 50 3.987,173 4.124.156 3,987L?3 Iq Trlw..Z0lLF.. and Appr0vedbYtheTrStee$On............... signed on their behaIf TRUSTEE The notes on pages 4 10 8 forni part of these accounts.
Page 4 THE NORMAN INTUTELEY TRLST NOTES TO THE ACCOUNfs FOR THE YEAJi EP4DED 29TH FEBRUARY 2024 I. ACCOUNTING POLICEES 1.1 BASIS OF PREPARATION OF ACCOLwrs The accounts are prepared under the hists)ricat cost ¢onvention Mryth items recogDised at cost or transa¢tion valu¢ unless otherwis¢ stated in th¢ rel¢vant nots5 to these accounts. The account5 have been prepared in ¢0[dance with the Statement of Re¢oJnmendcd Practice: Accounting and Rew)rting by Charities preparing their &¢¢ounts in 0rdance with the Financial Reporting sladard applicable in the LK and Republic of Ireland ffRS 102) issued on 16 Julv 2014, and with the Charities Aci 2011. The charity h&s taken advantage of the exemption in Financia] Reportillg St8lldard No l from the requirement to produce a cash flow statement on the grounds that it qualifies es a small charily. 1.2 TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY Tible fixed assets for use b! the charity. are stated at cosi les5 d¢pre¢iatioTh. Invest]n¢nts ar¢ stated at market value. Realised and uDreali5ed gaiDS and losses inveslrnents dealt with in the ststement of Finaucial Activities. Inv¢stment income plus associated re£overtJle is edIt to income otL an accruals basis, using dates of payment for dividen(ts and daily a¢crual for interest. tnvestEnent properties are revalued at the time of e&b tent review. The tEnt reviews and revalu10 are undertaken by Hyde Harringto Chartered Surveyors. 1.4 tNCOME Voluntary incotne and donatiolls are accoullted foT as receLved by the chariry. No pemianeTht endowments have been receiv in the period. 1.5 VALUE ADDED TAX Value Added Tax is recoveMI bv the charity on goods alld 5ervice5 relating to properties on which the charity h&8 opted to t. The charity has opted to t&Y in respe¢t or.. 31 Stricklandgate, Kendal 2s of 5 Ntpyember 2)3. Tudor House: WindernLer¢ as of 24 July 20*3, Beck Hou3e, Kendal as of 24 July 2023. 1.6 fvL4NAGEMwf AND ADMtMSTRATION Expenditure on m8magen]enl and adtninistration of the charity includes ail expenditure not direcdy related to the charitable activity..
Page 5 THE NOILMAN WllTELEY TRUST NOTES TO THE ACCO[Ts FOR YEAR E)DED 29TH FEBRUARY 2024 2. COVEN"ANtED AND VOLUNfARY INCOME 2024 2023 Donations frim individua]s Donations from corporate sponsors 3. INVESTMENf COmE 2024 2023 Rental income Interest receivable on c&sh depostts Building Society int¢rest re¢¢iv8bl¢ Income from listrd invesknents Interest on government sto¢ks Other Incom¢ 146.741 130.892 11,446 45.042 1,743 44,330 £203 ?75 £176,965 4. EXCEpfIoNAL tNCOL¥AE 2024 2023 5. MANAGEMENT AND ADMtNtSTRATtVE EXPENDITURE 2024 2023 Miscellaneous expenses Bank interest and charges Accountsncy charges Secretsrial setvices Professional Fees Re Propety Propertv nlanagement charges Property insurgjice Repairs and Maintenance Utilities Re Property 80 189 615 216 2,395 10,000 3,680 9,407 10,000 4.175 12.864 3.010 2.580 2J68 1,013 2,064 £37.733 £29,390
Page 6 THE f40RiAN WHrrELEY TRUST NOTES T THE ACCOUNTS FOR THE YEAR ENDED 29TH FEBRUARY 2024 6. INVESNNrs Cost or Revaluation 6.1 tNVESTMEhT PROPERTIES 2024 2023 The followlllg investment properties are owned by the Trust.. 4 & 4A Market Stree¢ UlveJ3ton (purchLwI 9.11.1994) (revalultion) 35137 CTe5cenl Road, Winderniere (purchased 16.12.1994) (revalualion) 31 Strickiandgate Kendal (purch 17.12.2003) (revaluation) 450,000 The Rivet%ide Centr< Kendal (purchased 17.02.20?2) (cost) 282,650 Tudor Hous< Wind¢rnier¢ {purch¢d 10.08.2023) (cost) Beck House, Kendal (purchased 06.11.2023) (cost) 795.000 795,000 2?5.000 225.00 450,IK)O 282,650 297,26] 242,021 £?.291,932 1,752,650 a) The properties are fullv let and overa]I shoTh a gross return Dn rental income of 6.40/0. The market value of au the properties was £2,291,932 (20?3 £1.752.650). b) The Nornian Whiteley Trust has an interest in Pentrenani HalL Church Stoke, Powys, which iThterest wa5 acquired by the A&semblies of God out of gifts made by The Nornian Ivhiteley Trn5t in previous years and this interest th¢ Ass¢mbliES of God have now vested in Tbe Nonnan Whiteley TrSt.
Page 7 THE NORMAN WltrriLEY TRLST NOTES TO THE ACcOUs FOR THE YEAR Eh'DED 29 FEBRUARY 2024 6.2 MLNAGED FUND AND OTHER IMESTME 2024 Cost Market value 2023 Cost Managed fund Mathet value Balance Bridge Fund Cash Funds 1,484,995 30.131 1.380,930 30,131 I,363.652 26.191 ,363.759 26,191 1,515.1?6 1.411,061 1,389,843 1,389,9iO Other Investsnents Building so¢i¢ty and c&sh detKbsits Loans to charitsble organisations 209,502 209,50? 49?,378 492,378 1,724,6?8 1.6?0,563 1,882.221 1.882.328 6.3 SUMMA 2024 2023 Investmeni property Managed fund and other ittvcstn)ents 2,291,932 1.724,628 1,752.650 1.882,221 4.014.505 3,634,871 7. DEBTORS 2024 2023 Due within one year: Prepayments and a¢¢rued Inte$t Rent delrtor Loan to clwitable organisation VAT debtor 4,689 11,130 9.190 9.799 15,819 8. CREDITORS.. Amounts due within one 2024 2023 Income received in advance Aecruals VA T ¢redilor 7.694 4,038 2,146 2,546 4,966 14.890 8,730
Page 8 THE NORWI WHITELEY TRUST NOTES TO THE ACCOtJNTS FOR THE YEAR EPl)ED 29TM FEBRUARY 2024 9. FUNDS OF THE CHARftY 9.1 Th¢ permanent endowment fillKI w&8 provided at the inception of the charity. 9.2 UNRESTRICTED FUNDS 2024 2023 Funds brought forward Income and gain5 for the Year Transfer of loan to a gift 3.987,173 97,892 3,987,475 (302) Fund3 Carried for*ard 4.085.065 3,987,173
Page 9 THE NORTrL4N IiiirrF,I,F.Y TRITST NOI'ES TO THE ACCOIryTS FOR IEE YEAR EfsTrED 29TH FEBRUARY 2024 10. cELARABLE GtFrs 2024 Andrew Pickford Arnicttwj mliSri0 Belli¥cLth BethEI Cburth ofReddiDg BIThlE R¢adillB F¢llDW5hip Bibks foy Childrtn CbippioB ¢d¢0 $t Christ Chur¢h ChristiaD & NtiysioDsryAilllLY CLUS 2,2N I,ODQ 5.OOLI 3270 6DD 3,60Q 80D aaude SteiDmayer D4nicl Cannin¥ David Cohnolly tknnalj J Monison Em¢i8¢ UK Ellcouter TrustWuJchcoT Fripnds Inleraational Gatrway Chvicb K£11 Good forEv¢ry¢tt¢ Hop¢ Chur¢h Otpujgio Ice Wales IDternatsDllal th TNst John Qreaves UJMvcr5ity Cthrishall 2,00Tr 3,00 I,ooo 4,150 I,OOCs 1,496 5,IDL> 3,600 50ti 2.ODtI 3.300 2f LiEhthous¢ W¢81 Yorks Litida Robinsoo Malcolm & T1h NforgBn Matthells Lejnos de Catnws MaltheNF Fran Misb Abig&llk& Moorl?d3 Chut oiccu Opcration Mobilisaiio ¥h¥rds iel Ministries PCC Of lithtille PCC St Luke& Ed8bBsIDn Project Possible R£trKkRh Dean lkndlev Co[tUllutY Chur Rob¢rt Constsnbn Sthvoi Sarah AIIEll Skne JESU5 South Lok¢lalld (h[ts¢T$t Srts R¢afjh SIMSPec SItV¢fJ Btck Story l.Iouse stUaNNetsUrn T89ts1ife UK Tearfulld-Ukrain¢ Appeal The Exodus PrDJ1 Th¢ Ilop¢FoUjati0n The No4h IDitwtivt The Olile Brallcb Tirn Slater Fortyi You YWAMCarliqle Zoo Udd 3,60D 3,60D 60D 1.8(M) 5J(M) 2,OQTr 1.000 2.40ri 2,000 2,000 3,443 5(M) I.ODTr 2,4DD 3.ODD 2,000 1,600 4,50D 3,000 I,ooo 4,00(> 1,6DQ 50 3.ODD I,ooo 17 1500 2,50D £l26.451 £89,050
Appendix I CHARrrABLE TRusr THE NORMAN WHtTELEY TRUST CEL4RrrY ThTORMATIO] TRUSTEES fr. Paul 7)ite1¢Y Mrs. Pippa Guidera Mr. Jose Angel Cabrita Viera CHARrrY NiTMBER 226445 c*Ry OFFICES OYerdAI Dunny Lane. Cbipperfor King5 Langley, IM 9DE INDEPEfqDEIYT EXAMtNER K. L. Shearer F.C.A. Rawcliffe & Co Limite Unit l Barons CoutL Graceways. Whitehi115 Industrial Estate, BLACKPOOL, Lancs. FY4 5GP Roy81 Bank of Scotland PLC, Fishergate. Presto PRI 2DP
App¢ndix 2 CHARITABLE TRUST TRUSTEESI REPORT FOR THE YEAR ENDED 29TH FEBRL"ARY 2024 The Tn]stees present their report and accounts for the year ended 29 February 2024. TRUSTEES The Trustees named on appendix L have served throughout the y¢ar. Appointment is governed by the Trust I)eed of Charitv. The Trustees are authorfjsed to appoint new TnLStees to fill vacanci&s arising through resignation or death of an existinE Trustee. INVESTMENT POWERS The Trust Deed authori%es the TTUStees to make and hold investmellts wtiich it at present and Th'hich are detailed in the accounts, these iniesltnents have been acquired in accc)rdance with the powers available to the Tnjstees. The Charitable Trust is constituied bj Trust Deed 'hICh entitles the Trust fund ynd income produced to be used for such charitable puSeS as the Tn]stee¥ see fiL Since th¢ inception of the Trust the tnain area of funding has been in assisting worLs which further the spread of the GospeL reliesryng poTrerti' and assisting with education. The policy of the Charitable Trust is to review Oll a regular basis requests for financia] lstance which meet the objectives and criteria of the TrusL Fullds for distribution being made frotn the income pr(Kluced from the Charitable Trusts inv£stments. The ats of the Charitable Trt atE h¢ld in order to produce funds for distriburion. STAJEMWt OF TRUSTEES, RESPONSIBILITIES Tbe Trustees are responsible for preparing the Annual Report aTMI the financial statements in accordance with the applicable law aud Llk Generally Accepted Accounting Practice. The Trustees are required under the Charities Act 2011 to prepare ftyancial statements for each financial year which giY¢ a tm¢ and fair view of the ¢harily's financial actiiitie5 during the year and of its fiDan¢ial position at tb¢ cnd of the ycar {unic55 the chlty is entitled to prepare accounts on the alternative receipts and pa}ments basis). In preparing financial statements giving a In and fair view the Tnjstees shollld lollow best pr&ctic¢ and.. a. select suitable accounting policies and apply them consistently" make judgements and estimates that re&soDable and prudent. c. state whether applicAblc accounting stotLdards and statements of rec4Jn]mended prxiice have been followed, subject to any departures disclosed and explained in the rinancial statsments" d. prepare the fuwicial statements on a ioing concern basis unless It is inappropriate to presume that the charit). will coniiuue in operatioll.
The Trustees are responsible for keeping accounting records which disclDse with reasonable accuracy the financial wsition of the charity and which enable them to certain the financial position of the charitv and which enable them to ensure that the finAncial statements comply with appli¢able laws and regulations. They are also responsible for safeguarding the assets of th¢ charity and hence for taking re&SOrble steps for the prevention &nd detection of fraud and other irregularities. DEVELOPMENT ACTIVITIES AND ACEllEVE.lNTs When pla[illg the activities for the Near, the TnleeS have considered the Charity Comn)ission's guidance on public benefit an in particular. the spe¢ifi¢ guidance on charities for the advancement of religion. The charity oper&es in and around Cutnbrii and ils acti]tIeS seek to reach out both to the local communiry and s0 to religious and educational e51abli5hments further afield. The Trustees Consider Ihat the perfoTman¢e of the ¢hariti' Ihis }'ear ba5 been most satisfactory having donated £126,454 to various causes. This is an increase on tbe previo8 year and the Trustees are ple&8ed that the Trust has been able to provide oThgoing support for many beneflciaries. The majority of donations made have b*n to wist Christian a¢tivities. FNANCIAL REVIEW The Charitable Trust does not ask for donalions from individuaLs or orgaDisation5. however, they would be gratefull) received. The in¢ome of the Trust has risen by 14.80/0 this year. mainIy duc to increased r¢ntsl income folloii"'iftg the purcELase of Tudor House and Beck House in Aug1 2023 and November 2023 re5pectivel)'. Overheads have incre&8ed compared with the pRvious Ye due to an incre&se profe&sior1 fees &4sociated with the properti¢s, and utilities costs. FtrruRE DEVELOPMENTS The Trustees are ¢onstsntly rci'iewing the perforniance of the Charity's investrnents and in the light of thi& it may be necessary. from time to time to dispose of such investtnents and re- invest as the TrLL4tees its advisors see fit to do so. PUBLIC BENEFIT The Trustees have referred to the guidance in Ihe Charity Conimission's general guidance on public benefit reviewing their aitll5 and objectives and ITh planning the charity's futur¢ a¢livities. In particular: the Trustees have consider8J the activities of the charity as set out in the "constitutio Objects and Policies- sectiOD abov4 and the "DevelopmenL Activities and Achievemen15" and "Financial R¢Yiew" and )eSsed their futtwe Pla$. They are satisfied that the criteria for public benefit are comprehensively achieved. TRI18T gErfLOR The Tnlee9 continue to r¢mcmb¢r th¢ sad loss of th¢ S¢ttl(>r Mr Norman Whileley. Ills generosily in establishing and providing the majority of th¢ eapital fimds of the Trust and his tireless work in assisting and funding projects in keeping Thitb the objectives of the charity will fondly remembered by the Tnjstees and the ¢haTitsble orgonisations who benefited from the Nornlan Illll"leley Tntst.
APPROVAL This report was approved by the Trustees otL ...... ..... ...........and signed on their behalf. P. wH[y TRUSTEE Date: Iqlii IL