TIIE NOILIIAN WHrrELEY TRUST CHARTfY JlTrlBER 226445 TRL'STEES REPORT FTh'L)CLIL STATEMEhryS FOR TllF, YF.AR FJDED 28 FEBRUARY 2025 coNfEs PAGE Independent Examiners Report Statement of Financial Activitie5 Balance Sheet 4.-10. Not£5 to the Accounls APPENDIX Charlty Inforniation Trustees Rort
Page I THE NOR[ WHITELEY TRUST INI)EPEINDEII"T EXATrIThER'S REPORT TO THE TRUSTEES OF THE NORMAN WHITELEY TRUST FOR 'fHE YEAR E)ry)ED 28 FEBRtiARY 2025 I report to the TnCeS on my examination of the a)Unts of the above charity (the Trust,? for th¢ year ended 28 February 2025 which are set out oll pagag 2 to 8. RESPONSIBILITIES AND BASIS OF REPORT As tbe Charity's Tn]stees. you are responsible for the preparation of the accounts in accordance with the requirements of the ChltieS Act 2011 ('tbe Act,). I report in respect of my eXamItion of the TTUSt's accounts cTled out under section 145 of the 2011 Act and in canying out my examinatio I have follo,ed all th¢ appli¢abl¢ Directions given by the Charity Commi&sion under section 145(5)(b) of the Act. INDEPENDE[ ELIMINER'S STATEMEMr I have completed my ¢xamiDation. I confirm that no mat¢rial matt¢rs hav¢ ¢om¢ to my attention in COTmection with the ¢xamillallon whi¢h giv m¢ ¢ausc to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Cl]ariti¢s Act; or the accounts did not accord with the accounting records; or the accounts did not comply with tbe applicable requirements concerning the forn] and ont¢nl of accounts set out itL the CEwities (Accounts and Reports) Regulations 2008 other than any r¢quir¢ment that the accounts give a 'tDJe and fair, view whith is not a tnatter Consider as part of an independent examitiO I have no concerns and have com¢ a¢wss no oth¢r matters in ¢onncction with the ¢xamin&tion to iTrhich attelltion should be thawn in this report in order to enable a proper ding of the accounts to be reached. K. L. SHEARER A.C.A. Rawcliffe and Co. Limited, Unit I, Barons Court Graceways, Whitehills Business Park, Blackpool, FY4 5GP Date.. 9 Odober 2025
Page 2 THE NORMAN NviirrELEY TRLST ST ATEMENT OF FIYAIYCLIL ACTIVITIES FOR THE YEAR EM)LYG 28 FEBRUARY 2025 Note 2025 2024 INCOMtNG RESOURCES Covenant¢d and voluntary inwme Investment income Exceptioll income 232,860 203,228 TOTAL INCOME 232,860 203,228 RESOURCF.S EXPENDED Direct charitabl¢ Charitable gifts Other Ex enditure L anagement and administration io 130.548 126,454 45.908 37,733 TOTAL EXPENDITURE 176,456 164,187 Excess l Deficit of income over expenditure for the year 56,404 39,041 STATEMENT OF OTHER RECOGNISED GAINS Excess of incom¢ ov¢ expenditure for the year Investment gains/Loss¢s: R¢alis¢d Unrealised 56,404 39,041 (302,696) 97,892 NET MOVEMEFrr IN FUNDS FOR THE YEAR TOTAL FUNDS BROUGHT FORWARD LOSS ON TRANSFER OF LOAN TO GIFr (246,292) 4,124,106 136,933 3,987,173 T(yfAL FUNU)S CARIUED FORWARD £3,877,814 £4,124,106 The notes on pages 4 to 8 form part of these accounts.
Page 3 THE PIORMAN WHITELEY TRLST BALANCE SHEET AS AT 28 FEBRUARY 2025 Note 2025 2024 FIXED ASSETS Investments 3,521,829 3,807,058 CURRENf ASSETS Debtors Cash at Bank and in hand 11,679 355.970 9,799 322,189 367,649 331,988 Less: CURRENT LIABILITIES 11,614 14,890 NET CURRENf ASSETSI(LIABILlTIES) 356.035 317,098 TOTAL ASSETS LESS CURREYf LIABILrrIES 3,877,864 4,124,156 CAprfAL P¢rn]anent Endowm¢nt Fund unrestrict funds 50 3,877,814 50 4,124,106 3,877,864 4,124,156 Approved by the Trustees on .. d Sigll on th¢iT behalf TRUSTEE The notes on pages 4 to 8 forni part of thase accounts.
Pag¢ 4 THE NORMAN WHrrELEY TRUST NOTES TO THE ACCOUNTS FOR THE YEAR EhT)ED 28 FEBRUARY 2025 I. ACCOLITTING POLICIES 1.1 BASIS OF PREPARATION OF ACCOLThryS The accounts are prepared under tbe historical cost convention with items recognis¢d at Cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared ID accordance with the Stateent of Recommended Practice: Accounting and Reporting by CILarities Prepillg their accounts in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. and with the Charities Act ?01 l. The charity bas taken advantage of the exemption in Financial Reporting Standard No l from the requirement to produce a cash flow statement on tbe grounds that it qualifies as a snthll charity. 1.2 TANGIBLE FIXED ASSETS FOR USE BY THE CHARtTY Tangible fixed assets for us¢ by the charity are stated at Cost less depreciation. 1.3 tNVESTMENTS Investments are stated at market valu Realised and unrealised gains and losses on inveslments are dealt with in the statement of Financial Activities. tnvestment income plus associated t recoTrerable 15 credited to income on an a¢oiuls basis, using dat¢s of payment for dividends and daily aCcnl for interest. Investment prop¢rti¢s ar¢ r¢valu¢d th¢ time of each r¢nt review. The rent reviews and revaluation are undertaken by DM Hall, Chartered Surveyors. 1.4 INCOME Voluntary income and donations are accountaj for received by the charity. No pernianent endowments have been received in the period. 1.5 VALUE ADDED TAX Value Added Tax is recov¢rcd by the charity on goods and seThices relating to properti¢s on which the charity has opted to ts. The charity has Opt to tax in respect of: 31 Stricklandgate, KeThdal &s of 5 November 2003, Tudor House, Windem)ere as of 24 July 2023, Beck House, Kendal as of 24 July 2023. 1.6 MANAGEMEN[ AND ADMINISTRATION Exp¢nditure on management and admiillstration of the charity includ¢s all ¢xp¢nditure not directly related to the ¢haritabl¢ activity.
Page 5 THE NORMAN WHITELEY TRUST NOTES TO THE ACCOULYfs FOR THE YEAR E_NDED 28 FEBRUARY 2025 2. COVENANTED AND VOLuNfARY INCOME 2025 2024 Donations from individuals Donations from wrporate sponsoTS 3. INVESTMENT INCOME 2025 2024 Rental income Interest r¢c¢ivable on cash deposits Building Society interest receivable Incomc from listed investments Interest on goven]ment Stocks Other Income 179,354 146,741 9,395 44,111 11,446 45,042 £232,860 £203,229 4. EXCEPTIONAL INCOME 2025 2024 5. MANAGEMENf AND ADMINISTRATtVE EXPENDITURE 2025 2024 Miscellaneous expenses Bank interest alld charges Accountancy Charges Secretarial seryices Professional Fccs R¢ Property Property mallagement charges Prop¢ty insurance Roairs and Maintenance Utilities R¢ Prop¢rty 672 46 3,052 10,000 15.331 11,630 148 4,259 669 80 189 2,467 10,000 4,175 12,864 3,010 2,580 2,368 £45,907 £37,733
Page 6 THE NORMAN MwrrELEY TRLST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 6. INVESMEFrrs Cost OT Revaluation 6.1 INVESTMENT PRoPERTs 2025 2024 The following investment properties are own&1 by the Trust: 4 & 4A Market Street, Ulverston (purch&sed 9.11.1994} (revaluation) 35137 Crescent Road, Winderniere (purch&8ed 16.12.1994) (revaluation) 31 Stiicklandgate Kendal (purchas&l 17.12.2003) (revaluation) 362.000 The Riverside Centre, Kendal (purch&sed 17.02.2022) (revaluation) 282,000 Tudor House, Windennere (purc1ed 10.08.2023) (revaluation) Beck House, Kendal (purchased 06.11.2023) (r¢valuaiion) 600,000 795,000 260,(K)O 225,000 450,000 282,650 285,000 297,261 230,000 242,021 £2,019,000 2,291,932 a) The PToperties are fully let and overall show a gross return on rental inwme of 8.90/0. The nwket value of all the properties was £2,019,0(K) (2024 £2,291,932). b) Th¢ Nornwi Ivhiteley Trust has all inter&st in Pentrenant Hall, Church Stoke, Powys, which interest was acquired by the Assemblies of God out of gifts made by The Nornian Whit¢l¢y Trust in previous years and this interest the Ass¢mbli¢s of God have now vested in The Nornwi Whit¢l¢y TrusL
Page 7 THE NORM lTrJtTfELEY TRUST OTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 6.2 Th(4NAGED FUND AND OTHER vESTmEN[s 2025 Cost Market value 2024 Cost Managed fimd Market value Balance Bridge Fund Cash Funds 1,483,521 19,309 1,407.121 19.309 1,484,995 30,131 1,380,930 30,131 1,502,830 1,426,430 1,515,126 1,411,061 Other Investments Building society and cash deposits Loans to charitable organisations 213,004 209,502 209,502 209,502 1,715,834 1.635,932 1,724,628 1,620.563 6.3 SUMMARY 2025 2024 Investment propety Managed fund and other investtnents 2,019,000 1,715,834 2,291,932 1,724,628 3.734,834 4,016,561 7. DEBTORS 2025 2024 Due within one year: Prepaynents and accrued interest Rent debtor Loan to clwitable orgat]isation VAT d¢btor 678 ii,ooi 609 9,190 11,679 9,799 8. CREDITORS.. Amounts due within one 2025 2024 Income r¢ceived in advanc¢ Accruals VAT ueditor 5,238 2,420 3,956 7,694 2,230 4,966 11.614 14,890
Page 8 THE NOILM, AN WIllTELEY TRUST NOTES TO THE ACCOUYTS FOR THE YEAR ENDED 28 FEBRUARY 2025 9. FUNDS OF THE CHARITY 9.1 The pern]anent endovnnent fimd was provided at the inception of the charity. 9.2 UNRESTIucfED FUNDS 2025 2024 Funds brought forward Income and gains for th¢ yvdr Transfer of loall to a gift 4,124.106 (246,291) 3,987,173 136,933 Funds carried forward 3,877,815 4,124,106
Page 9 THE NORMA IVUITELEY TRLST NOTES TO THE ACCOLNTS fiOR THE YEAR EYDED 28 FEBRUARY 2025 10. CHARtTABLE GIFFS Andrew Muguluma Andrcw Pickford Appleby Deanery SGh(K)I 2025 1,400 2,400 3,500 2024 2.400 1,000 2.000 5.000 1,500 Bethany Church Bible Readillg Fellowship Bibles for Childr Child Of Hop¢ Chipping Campden Baplist Christ Church Cbrislian & Missionary Alliance Cljristian Resources for Primary SCI>15 Church on the Moor CLAAS Claude Steinmayer Daniel Canning Darren Jennings DaTrid Connolly Dislgv PCC Edge fvIinistrie8 Emcrge Ul( Encounter Chu EvangcIical Alliance Exeter Network Church Friends Internatiot Gateway Chur¢h Kendal Good News for Everyo Hope Church Orpington Ice Wales Intemattonal Aid Tn1 Isabclla Ng Jolln Grvc8 Joshua Ludlow Joy Attmorc K¢swi¢k Convention Centre Kids Alive International Lan¢&slerUniversity Christian Lighthouse West Yorks Linda Robinson Malco]n] & Trish Morgan Mattheus tKmos de Can]pos Matthew Francey MI Abl11 Kain Moorlallds Church Natlmll & Ann Tait Niscu Now chUh Operation Mobilisation Orchards Oricl Ministries Pathway 2.000 3,000 1,014 3,270 2,990 3.600 2,000 1,000 3,600 900 3,600 1,600 3,000 1.240 2,000 600 2,000 5,000 500 2,1)00 1,000 1,000 3,000 1,496 3,000 1,000 15,225 1.000 2.400 1,000 2,400 3,300 800 s,0 200 500 2,000 2,400 3,600 ,800 1,800 5,300 2,400 600 2,700 5,000 3,000 2,400 2,000 2.000 3,0
Page 10 PCC of Allithwaite PCC of the ECCL PCC St Lukcs Edgb&%ton PrOJt Possible Proton Foundation Rebekah Dean Ridley Community Church Rosanna Jol]Dson Sarth Allen Share Jesus South Lakeland Cbristiatl Trust Sports R¢a¢h Si Johns Hospice St Marys PCC St Pete, Brockley St Peters Church St Thomas Commurri¢y connli01JS Steven Beck story House StLWt Newburn Tastelife UK The Exodus Project The Hope Foundation The NO Initiative The Olive Branch Tim Slaler Toxteth Womens Ccntrc WegDer Versohnullg Wyre Forest YoutkL YWAM Carlislc Zoe Uddin 1,739 2,()0 3,443 500 2.000 I,(J)O 750 1,000 3,CA)O 1.500 2,400 2,000 3,000 4,000 3,(KiO 4,(M)O 2,500 2280 3.(MiO I,(K)O 2.055 3.300 6,(M)O 1.500 900 6,000 3,600 2,000 1.800 500 3.500 500 3,000 2.000 1,000 I,CN)O 3,(MO 6,(XlO 3.600 2,700 2,500 2,000 £130.548 £126,454
Appendix I CIIARtTABLE TRLST THE NORMAN WHfrELEY TRUST CHARITY INFOILMATION TRUSTEES MT. Paul Wbiteley Mrs. Pippa Guidera MT. Jose Angel Cabrita Viera CHARrrY NUMBER 226445 CHARTfY OFFICES Ov¢rdal Dunny Lane, Chipperford, Kings Langl¢y, WD4 9DE INDEPENDENT EXAMINER K. L. Shearer F.C.A. Rawcliffe & Co Lite Lnit l Barons Coi]rL Gracewa)s, Tritehills Industrial Estat BLACKPOOL, FY4 5GP BAISKERS Royal Bank of Scotland PLC, Fishergat4 Preston. PRI 2DP
Appendix 2 C&L4RITABLE TRUST TRUSTEES, REPORT FOR THE YEAR E.I%DED 28 FEBRLARY 2025 The Trustees present theAr report and accounts for the year ended 28 Febnwy 2025. TRUSTEES Th¢ Tntee5 natned on appendix I have seTN'ed throughout the year. Appointment is governed by the Trust De of Charity. The Trustees are authorised to appoint new Trustees to fill vacanci&s arising through resi4ynatton or death of an existing Trustee. INVESTfvffiNT POWERS The Trnst D¢¢d authorises the Ttee5 to make and hold investments which it does at present and which are detailed in the accoun these investments have been acquired in accordance with the powers available to the Truste&8. CONSTITirrIoN OBJECTS LND POLICIES The.Charitabl¢ TNst 18 constituted by Trust Deed which entitles the Trnst fund and illcome woduced to be Sed for such chaTitable PUTposes as th¢ Trustees see fit. Since the inception of the Trust the main area of funding has been in assisting works which further the spread of the Gospel, relA¢ving poi'¢ty and assisting with education. The policy of the Charitable Trust is to review on a regular basis requests for financial assistance which meet the objectives and criteria of the Trust. Funds for distribution being made from the illcome produced fro]n the Charitable Trusts investments. The ass¢ts of the Charitable Tn]st are held in order to produce funds for distTibutio STATEMENT OF TRUSTEES, RESPOliSIBILrtIES The Trustees are responsible for preparing the Annual Report and the finoncial statements in accordance with the applicable law and UK Generally Accq)t&l Accounting Practice. The Trustees are required under the Charities Act 2011 to prepare financial statements for each finallcial year which give a true aod fair view of th¢ charity's financial activities during the year and of its finan¢ial position at the end of the year (unless the clwity is entitled to prepare accounts OJ the alternative receipts and payments basis). In Preparing financial statements gtving a true and fair vi¢w the Trustees should follow best practice and: & select suitable accounting policies and apply them consistently. b. make judg¢m¢nts and estimates that &re reasonable and prLent. c. stale whether applithl¢ CoLting st8lldards and statements of recommended practice have been follow& subj¢ct to any departw¢s disclosed and explained in the financial statements" d. PTq)are tbe financial statements on a going concern basis unless it is inappropriate to pr&%ume that the charity will continue in operation.
The Trustc¢s arc rosponsil)le for keeping accounting Tecords wbich disclose with reasonable accuracy the financial position of the clwity and which enable them to ascertain the financial position of the charity and wbich enable them to ensure th&t the financial statements comply with applicable laws and regulations. They are also tesponsible for safeguarding the assets of the charity and hence for taking re&sonable steps for the prevention and detection of fraud and other i¢gUIAtiC$. DEVELOPMEliT AcfIvITIES ACHIEVEMENTTS When planning the actiiitics for th¢ year, the Trustees have considered the Charity Cornmission'5 guidance on public benefit and. in particular, the specific guidance on charities for the advancement of religion. The charity operates in and around Cumbri4 and its a¢ti*ities seek to reach out both to th¢ local community and also to religious and educational establisbments further afieliL The TnteeS consider that the perfomiance of th¢ clwity this year h&s b¢¢n most satisfactory having donated £130,548 to various causes. This is an increase on the previous year and the Trustees are pleased that the Trnst has been abl¢ to provid¢ ongoing support for many . beneficiari¢s. The majority of donations rnade have been to assist Christian activities. FNANCJAL REVIEW The Charitsble Trust does not &sk for donations from indxviduals or organisations, howcver, they would be gratefully received. The income of the TTht has risen by 22.20/0 this year, mainly due to ineaSed rental income following the purchase of Tudor House and Beck House in August 2023 and Nov¢mber 2023 respectively. FUTURE DEVELOPMENTS The Trustees are constantly reviewing the performance of the Chariws itivesttnents and in the light of this, it may be necessary from time to titne to dispose of such investments and re- invest as the TDJStees or its advisors s¢¢ fit to do so. PUBLIC BENEFtr The Trastees have referred to the guidance in the Charity Commission's g¢nerdl guidanc¢ on public b¢n¢fit when reNoewing their aims and objectives and iu planning the charity's future activities. In particular, the Trustees have considered the actiiryties of the charity as set out in the "Constitution, Objects and Policies" section above, and the 'e10pMent, Activities and Achievements" pnd "Financial Rctriew", and &ssessed their future plans. They are satisfied that the Criteria for public benefit are comprehensively achieved. TRUST SELoR The Tnle¢S continue to remember the sad 10&8 of tbe Settlor Mr Nomian Whiteley. His generosity in establishing and pTh)viding the majority of the capital fid5 of the Trust and his tireless work in a5SiSting and fimding proj¢cts in keeping with the objectives of the charity will b¢ fondly Temembered by the Trustees and tbe charitable organisations who benefited from the Nornian Whiteley Trust.
APPROVAL This report approved by the Tn on ... . ..and signed on their behalf. P. WHITELEY TRUSTEE Dat¢.. 311112S