WELD OF LULWORTH CHARITY FUND ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 Regislgred Charity: 232570 Chartered Accounlanls
WELD OF LULWORTH CHARITY FUND CONTENTS Page Trustees, annual report Independent Examiners, report to the Iruslees Statement of financial activities Balance sheet Notes to the accounts 6-11
WELD OF LULWORTH CHARITY FUND TRUSTEES. ANNUAL REPORT REFERENCE AND ADMINISTRATIVE DETAILS Charty name Weld of LUrth Charity Fund Registered charty number 232570 Trustees James Joseph Weld Esq Mrs Eleanor Sarah Weld DL Contact addre$$ The Estate Office Lulworth Castle East Lulworth Wareham Dorset BH20 5QS Professlonal advlsors Bankers C Hoare & Co 37 Fleet streek London EC4P 4DQ A¢¢ountsnts Edwards & Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorsel DT1 1HA Investment managers Evelyn Partners 45 Gresham Street London EC2V 7BG
WELD OF LULWORTH CHARITY FUND TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustees present their report and accounts for the year ended 5 April 2025. The financial Statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in 8¢¢ordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021. Objectives and a¢tlvltles for the public benefit When planning our activities for the year, the Trustees have considered the Charity Commission's guidance on public benefit. Accordingly the Charity continued its policy of assisting local charitable bodies by making grants from accumulated income. The Charity also assists in the day to day operation of the Chapel at East LuKvorth. Achièvements and perfomian¢e The Charity's income decreased from £73,487 in 2023124 to £63,513 in 2024125. Donations and Gift aid decreased by £13,110, investment income increased by £1,568 and other trading income increased by £1.568. The trustees made charitable donations of £23,231, this include5 a £20,000 donation lo Dorsel Natural History & Archaeological Society. Donations expenditure was £20,224 less than the previous year. Nel income for the year was £15,79712024 - £9,278} and the Charity's nel assets increased in the year from £338,332 to £345,881 with net losses on the investments of £8,248. Aims and key ojectlves for future perlods The Charity aims to raise funds for meeting the same broad aims. Flnanclal revlew At 5 April 2025 the Charity had an Endowment Fund balance of £315.659 and a balance on the Income Fund of £30,222. As in 2023124 the significant income sources were donations1£35,123, 2024 £46,026), Gift aid (£9,293, 2024 £11,500} and investment income1£13,774, 2024 £12,026}. The Tru51ees have agreed that unrestricted fund reserves should be kept at a level that permits the continuance of the Charity as a going concern and the assistsnce of local charitable bodie5. No quantitative figure has been placed on this policy and is purely at the discretion of the Trustees. Where funds are in excess of immediate expenditure requirements they are invested in shares or bonds or placed on short term deposit with banks al the prevailing interest rate. Structure¥ governance and management The Weld of Lulworth Charity Fund was created by a Trust Deed dated 15 January 1960. The Fund is registered with the Charity Commission (registration number 2325701 and is held on trust by the Trustees lo apply income thereof for such lawful charitable purposes in England as the head of the Weld family shall from time to time direct and in default of and subject lo any such direction as the Trustees shall in their absolute discretion think fit. Under the declaration of the Trust the Trustees have uncontrolled discretion a5 beneficial owners as lo the manner in which the Trusfs assets are invested. The power to appoint Trustees is vested in the head of the Weld family. J J Weld (Trusleel has a life interest in the Weld Estate A Fund, 1$ sole d1ctor and shareholder of Lulworth Landscapes Limited and D1ctOr of Lulworth Heritage Limited. Approved by the Trustees on 22 January 2026 and signed on their behalf by J J Weld
WELD OF LULWORTH CHARITY FUND INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES ON THE ACCOUNTS OF WELD OF LULWORTH CHARITY FUND FOR THE YEAR ENDED 5 APRIL 2025 I report to the trustees on my examination of the accounts of Weld of Lulworth Charity Fund for the year ended 5 April 2025, which are set out on pages 4 10 11. Responsibilrties and basls of report As the charity trustees of the Charitable Trust you are responsible for the preparation of the accounts in ac¢ordan¢e with the requirements of the Charities Act 20111'the Acl'l. I report in respect of my examination of the Trustee's accounts ¢arried out under section 14S 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{5llbl of the 2011 Act. Independent examlner'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.. 111 accounting records were not kept in respect of the Charitable Trust as required by section 130 of the Act., or 121 the accounts do not accord with those records.. or 131 the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Account5 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 concems and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs S J Hough FCA Edwards and Keeping Limited Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA 26 January 2026
WELD OF LULWORTH CHARITY FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Expendable Endowrnent fund Unrnstrl¢¢gd Incom& fund Total funds 202S Total funds 2024 Nots$ Income Donations and lega¢ies Gift aid on donations Other trading income Invèstment income 35,123 9,293 5,323 13,774 35.123 9,293 5.323 13.774 46,026 11,500 3,755 12,206 Totsl Income 63,513 83,513 73,487 ExpenditUTO Cost of raising funds Investment management fees Chapel activities Charitable activities Chapel overheads Donations made Support and governan¢e ¢o$t$ 1,909 1,909 1,951 1.826 2,094 1,951 19,135 23,231 1,490 19.135 23,231 1,490 15.412 43.455 1,422 Total expènditure 1,909 45,807 47,716 64.209 Not In¢om• 11.9091 17.706 15.797 9,278 Reali8ed gainlllossl on disposal of investments Unrealised Ilos$l on revaluation of investments 86 {8,3341 86 18.334) 13451 16,0571 Not movèment In funds 110,157} 17,706 7,549 2,876 Funds brought fopNard at 6 Aprll 2024 325,816 12,516 338,332 335.456 Fund$ Carried forward at S Aprll 2025 14 315.659 30,222 345,881 338.332
WELD OF LULWORTH CHARITY FUND BALANCE SHEET AS AT5APRIL 2025 2025 2024 Notes Fixod as$ets Tangible assets Irbveslmenls 5,924 300,017 310.320 305,941 310,320 Current assets Debtors Cash al bank and in hand 10 11 34,786 9,685 24,880 8,070 44,471 32,950 ¢dItors. amounts falllng due wlthln one year 12 4,531 4.938 Net current assets 39,940 28,012 Net assets 345,881 338.332 Fund$ Expendable Endowment Fund Unreslricled Income Fund 14 14 315,659 30,222 325,816 12,516 345,881 338,332 Approved by the Trustee5 on 22 January 2026 and signed on their behalf by J J Weld
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 1 AccountSng pollcles {al A¢countlng conventlon The Weld of Lulworth Charity Fund was created under deed of trust and registered as a chaty in England and Wales. The address of the principal office is given in the chaiity information on page 1 of these finan¢ial statements. The financial slalemenls have been prepared in accordance wth Accounting and Reporting by Charities.. ststemenl of Recommended Practice appli¢able to charities preparing their accounts In accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021. They also Comply with the Charities Act 2011 and UK Generally Accepted Accounting Praetice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow slalemenl on the grounds that it is applying FRS 102 Section 1A and is a small charity. The accounts have been prepared lo give o 'lrue and fair, view and have departed from the Charities (Accovnls and Reports} Regulations 2008 only lo the exlenl required lo provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Slalemenl of Re¢ommended Practice applicable lo charib'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. statement of Recommended Practice effective from 1 April 200g which has since been withdrawn. The financial slalemenls have been prepared under the historical cost convention with ilerns recognised at cost$ or transalOn value, apart from investments which are included at market Value. The accounts are presented in sterling which is the functional currency of the eharity and round lo the neoresl £. The charity constilules a public benefit entity a5 defined by FRS 102. Ibl Golng concern The trustees consider that there are no material uncertainties about the charity's ability lo continue as a going concern. Ic) Income recognltion All income is recognised once the Charity has enlillemenl to the income, there is sufficient certalnty of receipt so il is probable that income will be received. and the amount of income receivable can be measured reliably. Other trading income includes wedding and christening fees. Investment income includes dividends, bank and loan interest and any income lax recoverable. All income, including that arising from endowment funds, is unrestricted. Idl Investments Listed investments are stated at market value al the balance Sheet dale. Realised gains and losses on disposal or unrealised gains and losses on revaluation are taken to the Slalemenl of Financial Aclivilies. Investment income has been taken into account on the basis of the due date of payment and includes income lax recoverable. lel Tanylble assets Tangible assets are stated in the balance sheet al cost, less any subsequent accumulated depreciation and subsequent 8ccumulaled impaiment losses. The cosl of tangible assets Includes directly attributable incremental costs incurred In their acquisition and installation.
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 If) Depreclatlon Depreciation is charged so as lo write off the cost of assets, other than land and properbes under conslrucb'on over their estimated useful lives. Igl Expenditure ¢ognItIOn Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity to that expenditure, il is probable that selllement will be qUired and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure on investment management is deducted from endowment funds.. all other expenditure is deducted from unrestricted income funds. Donations made are payments made to third parties in the furtherance of the charitsble objects of the Charity. (h) Taxation As a wistered Charity, the Trust is generally exempt from Income Tax and Capital Gains Tax. but not from Value Added Tax. Irrecovemble Value Added Tax is included in the cost of those items lo which il relates. lil Fund accountlng The Charity maintains the following funds as necessary'.- li) Endowment Fund lexpendablel - represents gifts which have been applied for capital purposes. This fvnd includes all subsequent gains and losses, both realised and unrealised, arising from fixed asset investments. This endowment is expendable and may al the discretion of the Trustees be applied for the purposes for which the endowment was given. li1} Income Fund lunreslrictedl represents income from fixed asset investments and is applicable for making grants lo charitable properties and administering the affairs of the Charity. This fund may at the discretion of the Trustees be expended for capital purposes. 2025 Incomè fund 2024 In¢¢mofvnd 2 Other tradlng Income and costs Wedding and christening fees Candle box money 4,845 478 3,13S 620 5,323 3,755 Wedding costs Sacristan and organist costs Candles, wine and sundries Christmas costs 920 225 697 109 890 375 724 105 1,951 2,094 Net in¢ome 3,372 1,661
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 2025 Incom• fund 2024 Income fund 3 Investment income Interest received on UK listed investments Dividends received on UK listed investments Interest received on stockbroker a¢counl Bank interest Other interest received 3.465 9,486 2,639 9,209 179 179 66 750 13,774 12,206 4 Chapel overheadg Repairs and renewals Oil and healing Insurance 6,300 8,731 4,104 4,775 4,362 8,275 15,412 19,135 5 Donatlons made Dorsel Natural History & Ar¢haeological Society Purbeck Arts Week Festival Miscellaneous Wool and Lulworth R C Parish 20,000 35,000 6.000 455 2.000 43.455 495 2,736 23,231 6 Support and govemance costs Accountancy fees Independent Examination 1,117 373 1,110 312 1,490 1,422 6 Independent Examlner remuneratlon Total remuneration receivable by the Independent Examiners in the year was £1,490, of which £1,117 relates lo accountancy services12024 - £1.110) and £373 relates to the examination of the accounls12024 - £3121. 7 Trustees remuneratlon and expensos No remuneration directly or indirectly was paid or payable out of the funds of the Charity for the current or previous year to any Trustee or to any person or persons known to be connected with any of them. No expenses were reimbursed during the current or preceding years.
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 8 Tangible assets Property improvements Income fund Cost Al 6 April 2024 Additions 5,924 Al 5 April 2025 5,924 Depreciatlon Al 6 April 2024 Charge for the year Al 5 April 2025 Net book value Al 5 April 2024 Al 5 April 2025 5,924 9 Investments Market value UK listèd Al 6 April 2024 Acquisitions at cost Disposal proceeds Reali5ed profit on disposal Unrealised loss on revaluation 310,320 12,055) 86 18,334) Al 5 April 2025 300,017 All investments are held primarily to provide an investment retum for the Charity.
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 2025 Total funds 2024 Total funds 10 Debtors Prepayments Gift aid CeIv¥ble other debtors 730 33,293 763 676 24,000 204 34,786 24,880 11 Cash at bank and In hand C Hoare & Co Cash held by stockbroker 6,623 3,062 9,685 5,261 2,809 8,070 12 Cradltors: amounts falling due withln one year Tiade creditors Arual$ Receipts in advance 2,028 2,503 1,273 1,665 2.000 4,531 4,938 Receipts in advance are deptrsils for weddings that are due to lake place in future periods.. At 6 Aprll Rol¢a$ed In Deferred 2024 year in yoar At 6 Apiil 2025 Wedding fees Total deferred Income 2,000 (2,0001 2.000 Receipts in advance are attributsble lo Income Funds. 13 Contingent Llablllll The Charity pledged £120,000 lo the Dorsel Natural History & Ar¢hoelogical Society. Following donations made in the years ended 31 March 2024 and 2025, £15,000 remains lo be donated, subject to the availability of sufficient funds. 14 Movemgnts In funds At 6 Aprll 2024 In¢om• Expenditure Net Inve8trnenl 108$¢• At S Aprll 2025 Unr9Strlctsd funds Expendable Endowment Fund Income Fund Total funds 325,816 12,516 (1,9091 145,8071 {8,2481 315.659 30,222 63,513 338,332 63,513 147,7161 18,2481 345,881 The cause of the Endowment fund deficit was due to fluctuations in the market value of inveslmenls. The surplus on the income fund is a result of investments providing the required return and reduced charitable activity expenditure during the year. 10-
WELD OF LULWORTH CHARITY FUND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 15 Analysls of net assgts between funds Endowment funds Income funds Total funds at 5 Aprll 2025 Fixed assets 300,017 5,924 30S,941 Current assets 16,100 28,371 44,471 Current liabilities 14581 14,0731 (4,5311 Totsl net assgts 315,659 30.222 345,881 Endowment funds In¢omg funds Total funds at 5 April 2024 Fixed a55ets 310,320 310,320 Current assets 15,933 17.017 32,950 Current liabilities (4371 14.501} 14,938) Total net assets 325,816 12,516 338,332 16 Related party transactions J J Weld ITruslee} has a life interest in the Weld Estate A Fund, is sole director and shareholder of Lulworth Landscapes Limited, and a Director of LUOrth Heritage Limited and LUOrth Leisure Limited. Included in repairs and renewals (note 41 are payments amounting lo £4,69712024 - £3,188). Included in Oil and healing (note 41 are reimbursements to Lulworth Heritage Ltd amounting lo £8,731 12024 - £4,362). Included in insurance Inole 41 are reimbursements amounting to £4,10412024 - £6,275) to Weld A Fund. Included in candles. wine and sundry Inote 2) are payments amounting to £4712024 £nill to Weld Estate A Fund. Included in Christmas costs Inole 2} are payments amounting to £10912024 £481.10 Weld Estate A Fund. Included in Tangible assets (note 81 are payments amounting lo £5,92412024 - £nill to Weld A Fund. These transactions were undertaken on an ami's length basi$. There were amounts oulslanding at the year end for these transa¢lions. Donations received from related partie5 in the aggregate amounted to £35,000 {2024 - £46,000).