REGISTERED CHAIUTY NUMBEIL. 231456 REPORT OF THE TRUSTEES AND IJNAiJDITED Fll¥ANCiAL STATEMENTS FOR YEAR ENDED 13 OCTOBER2024 FOR THE OAK TRusr Seago and Stopps Chartered Certified Accountants 61 Station Road Sudbury SuffDlk COIO 2SP
THE OAKTRUST REFERENCE AND ADMlsTRAT[VF. DETAII li FOR THE YEAR ENDED 13 OCTOBER 2024 TRUSTEES Dr E A Courtauld MA, FRCPath, l*fD (Chaiman) Mrs C M Hart BSC (Hons) DrCPGHartMA,DMS PRCIPAL ADDRESS l Ampliora Place Sheep¢n Road Colchestei. Essex C03 3WG REGISTERED CH•llUTY 231456 INDEPENDENT EXAMIDIER Seago and Stopps Chartered Certified Accountants 61 Station Road Sudbury Suffolk COIO 2SP ADVISERS Evelyn Partners Investment Management 45 Greshain Str¢et London EC2V 7BQ Page I
THE OAK TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 13 OCTOBfiR 2024 Th¢ Trust¢es* presont their report, and the ftnancial statements of the Charity for the year ended 13th October 2024. OBJECrEs AND ACTwrllEs Objectives And aim$ The obj¢¢tive5 of the Charity are making grants to appropriate legally charitable instttutions or purposes the Trust¢¢s detemiine. Tli¢ Trustees meet tivice yearly to approve or refuse grnnls. The Trustees Confirm that they have referred to the guidance contstned in the Charity Commission's general guidance on publi¢ b¢n¢fit when reviewing the Trusvs aims and objectives and in planning future activities and setting the grant making policy. The Trust carrie8 Ollt these objectives by.. Making grants to Registered U.K. Charities working locally in East Anglia and tlwoughout the U.K. supporting people who are disadvantaged (in the ivid¢st sense) and supporting medical and environmental ¢hariti¢s, Grantmaking The Charity invites applications for fundKng fiom recognised Icgally ¢haritable instilutions. FINANCIAL REVIEW Investment polRey and objeetives The Charity ree¢ived a donation in 1963 from Rev. A C C Courtauld to be kept in pcrpctuity. The capital of this fund now amovnts to over £l.000,000. There are no restriction8 011 the Charitys power to invest. The investment strategy is set by the Trustees for a period of five years and takes account of tlie recent demand for futtds aiid the quality of the funding applications. Tlie Trustees consider the income requirements, the risk profile aiid the investment manageV8 view of the market pr05pe¢ts in tlie medium terni. This strategy is set williiii an overnll policy. Ivhich states that the endowment fund is to be investmtnt in loiv and medium rtsk investtnEnts. The unrestricted and r¢stricted fuods may be Invest in any type of investment. Our strategy is revi¢wed with oiir iiivestmeiit manag¢rs annually. Resce8 policy It is the policy of the Cliarity to maintain unrestrict¢d fund5, wlii¢h are ihe fr¢e reserves of the Charity, at a level, Ivhi¢li equates to approxiiiiat¢ly six months unrestrict¢d exp¢iidiftire. This provides sufficient funds to cover administration costs and awiual donations atkd to respond to eMerg1¢Y appli¢otions for grants, which arise from tiine to time. Utweslricted funds were Inaintained at this level througliout the year. STRucfuRE, COVERNANCE AND MANACEMEKf Governing document The Charitable Trust IS ¢Ollslitiit¢d by the Trnst Deed, dat¢d 14 O¢tob¢T 1963 and is a Registered Charity (nuinber 231456). The Trustees ivho li&ve served dtiring the year and since Ihe year end ar¢ lt on page l. Trustees are appointed by the Board of Trustees. Risk mAnageinent The Trustees liave examift¢d the inajor slrategic, business and op¢ratioiial rtsks which the Cliarity faces aiid coiiftmi that systems have been established to enable regiilar reports to be produced so that the necessary sleps can be lak¢n to lesseii tliese risks. Page 2
THE OAKTRUST REPORT OF TItE TRUSTEES FOR THE YEAR ENDED 13 ocfoBER 2024 INDEPENDENT EXAMINER The Trusl¢es intend to &sk the existing iiidependeiit examiners to undertake the independent examination of the Trust in the following year. Approved by order of the Board of Trnste¢s on..............,... .......................... and signed on ils behalf by:
f £ K CowfffjLI LJ)
Dr E A Courtaiild MA, FRCPath. MD- Trustee and Chairnian Page 3
[rEPENDENT EXATrIINER'S REPORT TO THE TRUSTEES OF THE OAKTRUST Independent eramlner's report to the Trustees of The Oak Trust I report to the Charity TNstees on my exaininatÈon of the accounts of Th¢ ook Trust (the Trust) for the year ended 13 (ktober 2024. Respon5ibllitiu and basis of report As the Charity Trustees of the Tntst you are responsible for the preparation of the accounts in accordance with the requiTetn¢nts of the Charitie5 Act 2011 ('the Ace). I report in Spect of my examination of the Trusvs accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Cbarkty Comniis5i0n under Section 145(5Xb) of the Act. Independent examiner's statement I have completed my examination. I eonfiTh that no material matters have come to my attention in connection with the examination giving me cause to believe that in any fiterIal resp¢¢t: accounting cOrdS wete not kept in Spect of the Tjust as required by Section 130 of the Act. or the accounts d4J not accord with those records" or the arcounts do not comply with the applicable requientS conceming the fotm and content of aecounts set out in the Chorities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true ar fair view which is not a matter considered as part of an independent I have no concerns and have come &cross no other matters in connection with the examination to which aitention should drawn in this report m order to enable a proper understanding of the accounts to b¢ reached. John Seago FCCA Seago and Stopps Chartered Certified Accountants 61 Station Road Sudbury Suffolk COIO 2SP 6..dv6tsSf 2aAf........ Page 4
THE OAK TRUST STATENtENT OF FllYANCIAL AcrivrriES FOR THE YEAR ENDED 13 OCTOBER 2024 13.10,24 Total funds 13.10.23 Totsl nds Unrestricted Endowm$2nt funds fund Notes ¥COME AND ENDOwTs FROM Investment income 33.137 33.137 28.948 EXPEf4DITURE ON Raising fimds 8,654 8.654 8,260 Chgrltable &ctAvlties Donations 22.250 22250 Total 30,904 30,260 Unrealised investment gainsl(losses) R¢81ised gainsl(losse5) 83 J47 83,347 22,019 *NETINCOMX :, ,.. .,:, RECONCILIATION OF IiINDS ' , ;... . Total funds brought forward 26.441 907,974 934.415 913.708 998 481 1027 155 934415 The notes fonn p8rt of these financial statements Page 5
THE OAK TRUST BALANCE SHEET 13 ocfoBER 24 13.10.24 Totsl nds I3.10.23 Total funds Unrestricted Endowment funds fund Not¢s FIXED ASSETS Investments I,008,955 1,008,955 890,597 CURRENT ASSETS Investtnents Cash at bank 10 14.400 17.506 (J 0,474) 3,926 17,506 30,739 16,203 31.906 (10,474) 21,432 46,942 CREDITORS Amounts falling due within one year (3.232} (3,232) (3,124) NET CURRENf ASSETS 10474) 18200 28,674 998.481 1,027.155 934,415 998,481 I IY27 155; 934.415 The notes fom part of these fuwicial statements Page 6 £ontinued.-.
THE OAKTRtJST BALANCE SHEET - conainued 13 OCTOBER 2024 13,10.24 13.10.23 Unrestricted fimds Endowment funds 12 12 28,674 998,481 26.441 907 974 TOTAL FUNDS 1027 155 934 4l5 The fiuancAal statements were approved by the Board of Tnistees and authonsed for issue on . and were Sign on its behalf by.. Dr E A Courtauld MA, FRCPath, MD - Trustee and Chairnian DR C P G Hart DMS . Trustee The notes fornt part of th¢s¢ financial statements Page 7
THE OAK TRUST NOTES TO THE FINANCIAL STATEMEfATS FOR THE YEAR ENDED 13 ocfoBER 2024 ACCOUNTING POIJCIES Basis of prepAriag the finaacial statements The finan¢ial stst¢ments of the Charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by CharÈties: Statement of Recommended Practice applicable to Clwities preparing their acwunts in accordance with the Financial Reporting Standard appIlble in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Finaftcial Rcporting Stand8rd applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the htorICal cost convention, with the exception of investments which are included at market value. Income All income 15 recognised in the Ststement of Financial Activities onc¢ the Charity has entitlement to the funds, it is probAble that the income will be received alld the amount can be nie&sur¢d r¢liably. Expellditure Liabilities are recognised as expenditure as soon as ther¢ is a legal or constructive obligation committing the Charity to that expenditure. it is probable that a transfer of economic befits will be required in settlement and the amount of th¢ obligation cars be measured reliably. ExnditUre is aCCOLmt¢d foi on an accnials basis and has been c14L8sified under headings that aggtrgate all Cost related to the category. Where costs camiot be d1CtlY attrtlyjted to particular headings they have been .. allal¢d to activiti&s on a basis consistent wsth thL. iise of resources. Otants offered subJt£t to ¢OAdÉ¥ons Hthich knv¢ not beo met at the y¢ar dot¢ #T¢ Th)t¥d as a eommitment but a¢crued ag expenditure. Raising funds The cA)SL8 of g¢nerating funds are those eosts attribulable Éo generating in¢omin8 ruour¢es for the Charity. other than those incurred in undertaking charitsble activities or the costs incurred in underthking tTading activitie5 furth of the Charitys objectives. Charftable ctivirf£s Costs of charitable activities comprise all costs incurred in the putsutt of the charitable objectives of the Charity. These costs, where not wholly attributable, are Apportioned betwen the ¢ats8ories or charitable expenditure. Taxatio The Charity is exempt from tax on its clwEtable activities. Capital funds Unrestri¢ted Income Fund comprises those funds, which the. Trustees are free to use in accordan¢e with the charitabl¢ objectives. The Endowment fund repr¢sents those ass¢ts, which must be held pernnentlY by the Charity, principally investments. Income arising on the endowment fund C&D be used in accordance with th¢ obje¢tives of the Charity and is included &s restricted income. Any capital gains or losses arising on th¢ investments fomi part of the fund. Investment management charges and legal advice relating to the fuod are charged against the fund. Page 8 continued...
THE OAK TRUST NOTES TO THE FJNANCIAL STAT£MENfs- continued FOR THE YEAR ENDKD 13 OCTOBER 2024 AccouNf]NG POLIC - ¢ontinued IDYe8tment income Investment income 15 accA)unt¢d fot in the period which thc Charity is entitled to receipt, Investments Inv¢sÈments are stated at closing mid nwket vue at the balance sheet date as per Appeadix l (noted is the cost). The realised gains and loss¢s ar¢ cr¢ditsd to the Trust Permanent Endowment Fund as unrealised gains and Eosses. 13.10.24 13.10.23 Investment Income (AppendAX I) 33.137 RAISING FUNDS Investment management ¢(ts 13.10.24 13.1023 Administration charges LSFJLEI renewaj fee Accountancy fees Website development 4.500 72 1.782 6,514 72 1,674 C11ARrfABI DONATIONS Grants payable are ¢harg&l in the year when the offer is couveyed to the recipient except in those oases where the offer is Conditional, such grants being recognised as expenditure when the condition attaching are fulfilled. Granls offered subjcct to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure. Appeal Amount The Trustees decided to make grants as follows:_ TearFund Compassion UK Friends of Mutake School No Way Trust The Cirdan Sailing Trust African Child Trust The Friends of St James Mission The Nehemiah Project 2.000 2.000 1,500 1.000 1.000 1.000 1,000 1,000 Page 9 t4)fttinued...
THE OAK TRUST NOTES TO THE FINANCIAL STATEMINfs - eontinued FOR THE YEAR ENDED 13 OCfOBER 2024 CHAIUTABLE DONATIONS - ¢ontinued AfricaD Mi&8ion Friends of Vellore. UK Jacaranda Foundation The virti] Doctors The WiEEow Trust Fellowship Afloat Prader-willi Syndrome Association UK Lancashire Sdkool SaAling Association Walk Mtnistries Zambia Orphans Aid UK Suuny Days Children Fund Newmarket Scout Group Benbradagh Commuttity Support Project Harar Young People Taking Action Swan Youth Proje£t (Norfolk) Ltd Food Lifeline 1.000 1,000 1,000 1.000 1,000 1,000 750 750 750 500 500 500 500 500 500 250 250 TOTAL There no twstees, retnunerwion or othcr bcnefits fof the year ended 13 Octob¢r 2024 nor for the y¢ar ended 13 October 2023. Trwtee8' ¢xpense• There were no tnJste&8' expenses paid for the year ended 13 October 2024 nor fof the year ended 13 Octokr 2023. coARATIVEs FOR THE STATEMENT OF FINANCIAL ACTIVITIES UniEStricted Endowment funds fund funds INCOME AND EIYDOWMENTS FROM Invesknent incomt 28,948 EXPENDrruRE ON Raising ndS 8.260 8,260 Charitable activilfies Donations 21000 22.000 Total 30.260 30,260 Page 10 continued..,
THE OAK TRUST NOTES TO THE FL¥ANCIAL STATEMENTS- contimued FOR TE ENDED 13 OCTOBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- eontinu¢d Unrestricted Endowment fund$ fund Total funds Net gains on investments 22,019 22,019 NET INCOMEI(EXPENDITURE) (1.312) 22.019 20,707 R£CONCILIATIOIY OF FUNDS Total funds brought forward 27,753 885,955 913,708 TOTAL FE]ThDS CARRIED FORWARD 907 974 FEES Fi)R THE LXAMINATIOYA OF IHE ACCOUFrrs .... ,. . . 13.10.24 13.10.23 Independent examiners fees TAXATION The Trust a registered Charllty and accordingly is exempt from taxation on its income and gains where they are applied for charitable pury)oses. See Appendix l. 10. CURRENT ASSET INVESTMEIYTS 13.10.24 13.10.23 Evelyn Partner5- capital l Èncome accounts 30,739 Pagell ntinued...
THE OAK TRUST NOTES TO THE FINANCIAL STATIMENfs . continued FOR THE YEAR Ef•tDED 13 ocfoBER 2024 11. CREDrroRS: AMOIINTS FALLll¥G DUE WTfHIN ONE YEAR 13.10.24 13.10.23 Administration charge Accountancy feeg 1,450 1,782 1,450 1,674 3,232 12. MOVEMENT JN FUNDS Net movement in funds At 14.10.23 At 13.10.24 Unre8lrieted funds General fund Unrestricted Income Fund 28.897 2.456) 28,897 2.233 26,441 2,233 28,674 Endowment fubd$ Permanent Endowrn¢ &>,,11,.: 907,974 90,507 998,481 934 415 1027 155 Net movement in funds. included in the above #re a3 Follows: Incoming resources Resources expended Gains attd Movemcnt losses in funds Unrestricted funds Unrestricted Income Fund 33,137 (30,904) 2.233 Endowment funds Perniallent Endowmellt 90,507 90,507 TOTAL FtJNDS Page 12 continued...
THE OAK TRUST PIOTES TO THK FINANCIAL STATEMEwfs - continued FOR THE YEAR ENDED 13 OCTOBER 2024 12. MOV£MENT IN FUNDS- continued Comparntiyes for movement in funds Net movement in funds At 14.10.22 At 13.10.23 Unrestrieted funds General fund Unrestricted Income Fund 28,897 1,144) 28.897 27,753 (1,312) 26,441 Endosvment funds Pernianent Endowm¢nt 885,955 22,019 907,974 T(YTAL FUNDS 913 708 20,707 934.415 Comparative nei movem¢ni in funds, included in the above are as fi>filows: incoming Resources resL>urces expended Gxins and Movement losses in fimds . . Uurejtricttd tuudj ;,,:.,: .. ' Unrestrictd Income Fund 28.948 (30,260) (1,312) Endowmeut fund Permanent Endowment 22,019 22,019 TOTAL FUNDS 30 20.707 A current year 12 rnonths and prior year l2 months combined position is as follows: Net movement in funds At 14.10.22 13.10.24 Unre&tri¢ted fund General fvnd Unrestricted Income Fund 28,897 1,144) 28,897 921 27,753 921 Endowm¢nt fuuds P¢mian¢nt Endowrnent 28,674 885,955 112,526 998,481 TOTAL FufiDS 913,708 113447 1027 155 Page 13 continued...
THE OAK TRUST NOTES TO FINANCIAL STATEMENfs- colltittued FOR THE YEAR ENDED 13 OCTOBER2024 12. MOVEMENT IN FIJNDS . continued A current year 12 months and prior ye8r 12 months Combined net movement in nd¥ An¢lud¢d in the above are as follows". Incoming resources Resources expended Gains and Movement losses in funds UDrestrictsd funds Unrestricted Income Fund 62,084 (61.163) 921 Endowment fund Pernianent Endownkent 112.526 112,526 TUTAL FUM)S 61,163) 112.526 113.447 13. RELATED PARTY DISCLDSURES There were no related party trans&ctiofis for the year ended l3 October 2024. P4ge 14
THE OAK TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 13 OCTOBER 2024 13.10.24 13.10.23 JNCOME AND ENDOWMENTS Investment inLY)me Investment income (Appendix l) 28.948 Total incoming resourcej 33,137 28,948 Investment management ¢osts Administration chargES Accountan¢y fe¢5 Website development 4,572 1.782 2.300 6.586 1,674 8,654 8,260 Charitable activllles Charitable donattons 22.000 ,. Total rwources expended 30.904 30.260 Ntt ID¢othtl(¢spendltvre) before gafin *nd Ioss¢8 2.233 (1.312) ReAli8ed re¢ogoi8ed aod 1055e Unr¢alis¢d invesknent gains (105ses) Realised gains (losses) 83,347 22.Ok9 Net illeome 20,707 This page does not fcrni part of the statutory finan¢ial ststements Page 15