THE PAYNE CHARITABLE TRUST
FINANCIAL STATEMENTS
5th April 2025
Charity no. 241816
THE PAYNE CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5th APRIL 2025
The Trustees present their report along with the financial statements of the charity for the year ended 5th April 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 5 and comply with the charity's trust deed and applicable law.
Constitution and objects
The Payne Charitable Trust is constituted under a trust deed dated 30th March 1965 and is a registered charity number 241816. The objects of the charity is the furtherance of the Christian faith, through grants and loans.
Organisiation
The names of the trustees who served from the 6th April 2022until the date of these financial statements: Eric Payne O.B.E John Payne F.C.A.
The trustees meet from time to time to consider the applications received.
Financial review and investment policy
Income for the year was £31,450 compared with £32,656 in 2024 Grants amounted to £28,981 compared with £29,657 in 2024
The investments in quoted ordinary shares and bonds decreased in value by £28,625
Reserves Policy
The Trustees have considered the guidelines issued by the Charity Commission and believe with the present access to funds, the day to day running costs which are low, can be met for the foreseeable future.
Risk Assessment
The Trustees have considered the risks involved in the operation of the trust. As the two trustees are directly involved in the operation and handling of the funds, the greatest risk, as has been seen, is the fall in the value of the investments. These are held for long term growth with a satisfactory yield. Personal guarantees are given or the loan ior secured on the asset.
Trustees responsibility in relation to the financial statements
Law applicable to Charities in England & Wales require the trustees to prepare financial statements for each financial year which gives a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements the Trustees are required to:
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select suitable accounting policies and then apply them consistently
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make judgments and estimates that are reasonable and prudent
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclsoed and explained in the financial statements; and
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prepare the financial accounts on a going concern basis unless it is inappropriate to presume the charity will continue.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial accounts comply with Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
John Payne
Page 1
Independent Examiner's Report on the Accounts
Report to the trustees of PAYNE CHARITABLE TRUST Charity No. 241816 On the accounts for the year ended 5th APRIL 2025 which are set out on pages three to six.
On the accounts for the year ended
Responsibilities and basis of report
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 Trust's accounts carried out under section 145 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 (5((b) of the Act.
Independent examiner's statement
The charity's gross income exceeded £25,000 and I am qualified to undertaken the examination by being a qualified Accountant.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination, which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or the accounts did 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.
SIGNED
NAME
John Northcott Cyril Arnold Accountants Glyndwr, 5a Castle Street, Ruthin LL15 1DP 22nd January 2026
Page 2
THE PAYNE CHARITABLE TRUST
| BALANCE SHEET FIXED ASSETS Tangible assets Note 2 Quoted investments Unquoted investments Loans: Repayable within one year CURRENT ASSETS Debtors Bank and financial institutions CURRENT LIABILITIES Creditors due within one year NET CURRENT ASSETS FUNDS EMPLOYED Restricted fund 0 Unrestricted fund Approved by the Trustees on and signed on their behalf by: John Payne Trustee 22nd January 2026 |
5th APRIL 2025 £ £ £ £ 1 1 343 755 372 380 60 776 60 776 140 000 150 000 544 532 583 157 9 441 6 900 52 314 31 055 61 755 37 955 1 303 662 60 452 37 293 604 984 620 450 327 810 327 953 277 174 292 497 604 984 620 450 2024 |
5th APRIL 2025 £ £ £ £ 1 1 343 755 372 380 60 776 60 776 140 000 150 000 544 532 583 157 9 441 6 900 52 314 31 055 61 755 37 955 1 303 662 60 452 37 293 604 984 620 450 327 810 327 953 277 174 292 497 604 984 620 450 2024 |
|---|---|---|
| 583 157 37 293 |
||
| 61 755 1 303 |
||
| 620 450 | ||
| 327 953 292 497 |
||
| 620 450 | ||
Page 3
THE PAYNE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5th APRIL 2025
| INCOMING RESOURCES Unrestricted Gifts 6 000 Interest received (gross) 8 301 Dividends received 17 149 Taxation refund TOTAL FOR THE YEAR 31 450 RESOURCES EXPENDED Gifts and grants 28 838 Administrative costs Portfolio management fee 3 795 RESOURCES EXPENDED 32 633 Net outgoing resources -1 183 Net incoming resources Other recognised gains or losses Realised gains 3 251 Unrealised gains 6 641 Unrealised losses -24 032 NET MOVEMENT IN FUNDS -15 323 Balance 5th April 2024 292 497 Balance 5th April 2025 277 174 |
Restricted 143 143 -143 -143 327 953 327 810 |
TOTAL 6 000 8 301 17 149 31 450 28 981 3 795 32 776 -1 326 3 251 6 641 -24 032 -15 466 620 450 604 984 |
2024 4 500 10 505 17 650 |
|---|---|---|---|
| 32 655 | |||
| 29 657 350 1710 |
|||
| 31 717 | |||
| 938 15088 -18326 |
|||
| -2 300 622 750 |
|||
| 620 450 |
page 4
THE PAYNE CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5th April 2025
1 Principal accounting policies
( A ) Accounting convention
The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with the Financial reporting Standards for Smaller Entities. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in October 2000.
( B ) Investment income
Is accounted for in the period in which the Charity is entitled to receive. Interest received calculated on the increase in the RPI is treated as a restrictive fund receipt to maintain the capital value of the funds. Other income accounted for upon receipt.
( C ) Resources expended
Expenditure is included on an accruals basis.
Costs of generating funds comprise those costs directly attributable to managing the investment portfoio and raising investment income. Grants payable are charged in the year they are paid.
( D ) Tangible fixed assets and depreciation
Depreciation is charge on the motor vehicle at 25% p.a. on a reducing line basis. The cost is the actual price paid, plus any acquistion costs.
( E ) Fixed assets: Investments
Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on valuation is taken to the Statement of Financial Activities.
| 2 | TANGIBLE ASSETS | Motor | Fixtures | Total | |
|---|---|---|---|---|---|
| Vehicle | & Fittings | ||||
| COST | |||||
| Balance 6th April 2024 | 6 443 | 499 | 6 942 | ||
| Disposal | |||||
| Balance 5th April 2025 | 6 443 | 499 | 6 942 | ||
| DEPRECIATION | |||||
| Balance 6th April 2024 | 6 443 | 498 | 6 941 | ||
| Charge during year | |||||
| Balance 5th April 2025 | 6 443 | 498 | 6 941 | ||
| At 5th April 2025 | 0 | 1 | 1 | ||
| At 5th April 2024 | 0 | 1 | 1 | ||
| Page 5 |