## 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:
- select suitable accounting policies and then apply them consistently
- make judgments and estimates that are reasonable and prudent
- 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
- 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||||