Charity registration number 242190 A S CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
A S CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru$ts9S Mr G W Calvocoressi Mrs C Eady Mr S C Sampson Mr M J Silver {Appointed 8 November 20231 IAppointed 8 November 20231 Ms E J ca1voc0$s1 Charlty number 242190 Registered office Henley-on-Thames Audltor AzetsAudit Services Ashcombe Court Woo15ack Way Godalming Surrey GU7 1LQ Bankers Royal Bank of Scotland plc 49 Charing Cross Admiralty Arch London SW1A2DX
A S CHARITABLE TRUST CONTENTS Pagg Trustees. report Independent auditorfs report Statement of financial activities Balance sheet Notes to the financial statements 9-18
A S CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The trustees present their annual report and financial statements for the year ended 5 April 2023. The financial slalemènts have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the ¢harily's goveming document, the Charities Act 2011 and °A¢counling and Reporting by Charities". Slalemenl of Recommended Practice applicable lo charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accoLJnting periods commencing from 1 January 20161 ObJectlves and actlvltles The charity's objects are to benefit such charitable purposes or charitable institutions in such manner as the trustees from lime to lime think fil. The trustees assess grant applications received and review the ongoing support provided to certain charities. The trustees are conscious of the value of grants made relative lo income received. This year end, grant expenditure Is 75°h 12022 _ 470/0) of income excluding the gift from Guy Fawkes Charitable Trust which the trustees consider appropriate. The Iru5tees have paid due regard to ouid8nce issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and pèrformance Flnanclal revlew 11 is the Policy of the charity that unreslricled funds which have not been designated for a specnlc use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, In the event of a significant drop in funding, they will be able to continue the charity'5 current activities while consideration 15 given lo ways In which additional fund5 may be raised. This level of reserves has been maintsined throughout the year. Al year end, the charity had lotsl funds of £22,433k12022'. £21,489kl, of which all were unreslricled. The charity's income and expenditure for the year and the financial position al the end of the year were as disclosed in the attached financial slatemenls, which the trustees consider lo be satisfactory. On 5 April 2023 the Trustees accepted the assets of the Guy Fawkes Charitsble Trust. On 8 November 2023 we also accepted Elfrida Calvocoressi. the Chair of Guy Fawkes Charitable Trust onto our board of trLJStees and have also added a Treasurer Trustee lo the board. The aims, purposes and working practices of Guy Fawkes are substantially similar to our own and we anticipate that a select number of Guy Fawkes grant recipients may benefit from AS Charitable Trust resources. The charity continues lo add surplus income lo ils capital as the trustees anlicipale that in the future a full lime adminislralor will have lo be appointed and they do not wish lo become dependent on public donations to support administrative personnel. They also wish lo have sufficient reserves lo make a few larger donations. The underlying level of investment income is similar to the previous year. The investments are stated at mid- market value, based on the mid-market valuation prepared by the investment managers. The nel decrease in market value is included in the Statement of Financial Activities. The trust is particularly sympathetic lo projects, which combine the advancement of the Christian religion, with Christian lay leadership, wth Third World development, wth peace making and reconciliation or other areas of social concern. During the year donations were made lo ¢harrties known to the trustees and whose aims they support. The trustees, aim is to continue making donations to charities that need assistance and are known to them and lo relain maximum flexibility as set out in the trust deed.
A S CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Investment pollcy There are no restrictions on how the charity can invest tts funds. It is intended that the capitsl of the trust will remain invested in stocks and shares. The charity has indicated lo ils Investment Manager that all investments should be suitable for Charities and should not indude any direct investment in tobacco companies or gambling, especially casinos. The charity has made an equity investment into residential property. The trustees consider this exposure lo be sensible in the context of the charity. Risk management The trustees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks. The charity does not seek donations and depends on its income from the investment portfolio. It only provides donations to charities of which il has some knowledge. The trustees maintain Currency with the markets from a layman's perspective whilst maintaining dose contact with the stockbroker whose regular reports clearly illustrate their performance relative lo the agreed benchmark indices. Exposure lo property markets is a considered diversrficalion of capital investment. Such property investment is long term and does not inhibit the availability of funds for the running of the charity. Future direction The charity has developed confidence in beneficiaries thus will consider increasing the weighting of their support and will remain passively open lo new partners. Structure. goveman¢e and management The charity was established by Trust Deed dated 10 February 1965 by Mr Roy Calvocoressi and is a registered charity No. 242190. The trustees who served during the year and up lo the dale of signature of the financial slalements were.. Mr G W Calvocoressi Mrs C Eady Mr S C Sampson Mr M J Silver Ms E J Calvo¢oressi IAppoinled 8 November 2023} (Appointed 8 November 2023)
A S CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5APRIL 2023 ststement of trustees. responslbllltles The trustees are responsible for preparing the Trustees. Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practi1. The law applicable lo chaTilies in England and Wales requires the trustees lo prepare financial stslemenls for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial ststemenls, the trustees are required to.. select suitable accounting policies and then apply them consistenuy., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followed. subject lo any material departures disclosed and explained in the financial statements., and prepare the finanaal statements on the going concern basis unless it is inappropriate to presu that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAc¢ounls and Reports) Regulations 2008 and the provisions of the trust deed. 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. stees, r port was approved by the Board of Trustees. ssl Mrs C Eady Trustee Dated". Trustee 2 Februa 2024 2 February 2024 Mr S C Sampson Trustee Dated.. 2 February 2024
A S CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF A S CHARITABLE TRUST Oplnlon We have audited the financial statements of A S Charitable Trust (the 'charity'l for the year ended 5 April 2023 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slatemenls". give a true and fair view of the slate of the charity's affairs as al 5 April 2023 and of ils incoming resour$ and application of resou$. for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorts spOnSIbl1rt1eS for the audit ol the financial slalements section of our report. We are Independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slatemenls. we have concluded that the Iruslees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nDI identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least twelve rnonlhs from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the trustees Imth respect lo going concern are described in the relevant sections of this report. Other inforniation The other information comprises the information induded in the annual report other than the finala1 statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opiniDn on the financial statements does not cover the other infomiation and we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo read the other Information and, in doing so, consider whether the other Information is materially inconsistent wth the financial slalements or our knoedge obtained in the course of the audit, 01 otherwise appears to be materially misstated. If we identify such malerral Inconsi51encies or apparent material misstslemenls, we are required lo determine whether this gives rise lo a material misstalemenl in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a material misstslement of this other information, we are required lo report that fact. We have nothing to report in this regard. Matters on which wg ar& requirod to report by 8xception We have nothing to report in respect of the followng mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion.. the informab'on given in the financial ststemenls is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept., or the financial slalements are not in agreement with the accounting records.. or we have not received all the information and explanations we reqLJire for our audit.
A S CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF A S CHARITABLE TRUST Responslbllltles of trustees As explained more fully in the ststement of trustees, responsibilities, the trustees are responsible for the preparation of the finanaal statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees delemiine is neSSary to enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going concem basis of accounting unless the trustees either intend to Cease operations, or have no realistic altemalive but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan wth the Act and relevant regulations made or having effect thereunder. A ftjrther description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il www.frc.org.LJklauditorsresponsibilities. This description fomis part of our auditor's report. Extant to whlch th8 audlt was consld8red capabl8 of dètectlng Irr8gularltl8s, Includlng fraud Irregularities. induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line wth OLJr responsibilities. outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, ils control environment, and likely future developments, including in relation lo the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstalemenl of the financial stalemenls, whether due lo fraud or error, design and perfom audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations. including fraud. In response to the risk of irregularities and non-compliance wth laws and regulations, including fraud, we designed procedures which Induded.. Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud", Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial ststements or the operations of the entity through enquiry and inspection.. Reviewing financial ststement disclosures and lesling to supporting documentation to assess compliance with applicable laws and regulations., Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of polenli81 bias. 8e¢ause of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading to a material misslalement in the financial slalemenls or non-compliance with regulation. This risk increases the more that Complian with a law or regulation is removed from the events and transactions reflected in the finanaal statements, as we will be less likely to become aware of instances of n0coMplianCe. The risk of not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. other matters Your attention is drawn to the lad that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities". Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in preference to the Accounting and Reporting by Charities.. Slalement of Remmended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now been withdrawn. This has been done in order for the finanaal statements lo provide a true and fair view in accordance with current GenerallyAcpIed Accounting Practice.
A S CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF A S CHARITABLE TRUST Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's trustees those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity s ttuslees as a body, for our audit work, for this report, or for the opinions we have formed. Robert Southey (Senior Statutory Auditor) for and on behalf of Azets Audit Sarvicgs 2 February 2024 Chartergd A¢¢ountsnts Statutory Auditor Ashcombe Court Woolsack Way Godalming Sutrey United Kingdom GU7 1LQ Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
A S CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestrlcted funds 2023 Total 2022 Notes Donations and legacies Investments 3,001,998 506,059 432,151 Total income 3,508,057 432,151 Charitable adivities 514,927 202,728 Net gainslllossesl on investments 11 12,049,166) 1,653,926 Net Incomlng re$ource$ 943,964 1,883,349 Other recognlsed galns and losses other gains or losses 1141 Net movement in funds 943,964 1,883,335 Fund balances al 6 April 2022 21.488,671 19,605,336 Fund balances at S April 2023 22,432,635 21,488,671 The ststemenl of financial activities includes all gains and losses recognised in the year. The total funds are unreslricled. All income and expenditure derive from wntinuing activities.
A S CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2023 2023 2022 Notes Fixèd assets Tangible assets Investments 13 14 494 20,911,590 658 20,197,391 20,912,084 20.198,049 Curr&nt assets Debtors Cash at bank and in hand 46,485 1,562,055 72,488 1,272,894 1,608,540 1,345,382 Credltors: amounts falllng due wlthln one year 16 177,9891 153,1601 Net current assets 1,530,551 1,292,222 Totsl assets less current liabilities 22,442,635 21,490,271 Creditors: amounts falling due after more than one year 17 110,0001 11,6001 Net assets 22,432,635 21,488,671 Income funds Unrestricted funds 22,432,635 21,488,871 22,432,635 21,488,671 Th 2 February 2024 ternenls were approved by the Trustees on ......................... (Jr G"Vtrrvoco Trustee Mrs C Eady Trustee Mr S C Sampson Trustee
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcles Charity infomiation A S Charitable Trust is a charity registered in England and Wales. 1.1 Accountlny conventlon The financial statements have been prepared in accordance with the charity's goveming document. the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" l°FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Ststgnent of Cash Flows. The finanaal statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practi which is referred lo in the Regulations but which has Sin been withdrawn. The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern Al the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the forèseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial stslemenls. 1.3 Charltable funds Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entiled to il after any perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomiance condV(ions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balan sheet purposes. The nel realised gains from investments are included as part of other recognised gains and losses rather than incoming resources as the trustees, current policy is to preserve capital and only make the income wising from il available for grants.
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 A¢¢ounllng poll¢lg$ Icontlnugdl Income from quoted investments is shown net. the related tax Creditslincome lax being shown as inwme tax repayable and is shown in the Statement of Finanaal Activities in the year in which it is receivable. The trustees are of the opinion that it is the regular flow of nel income which is immediately available for grants and their policy for awarding grants is not affected by changes in lax legislation which may arise from lime to lime. 1.6 Expendlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, It is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir1 costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportlDned been those activitEs on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. All expenditure is included on an accruals basis and is cOgnised when there is a legal or constructive obligation lo pay for expenditure. The trust is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Grants payable are payments made to third parties in the furtheran of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one year or multi-year grant. Grants awards that are subject lo the recipient fulfilling performance conditions are only accrued when the recipient has been notrfied of the grant and any remaining unfulfilled conditions attaching lo that grant are outside of the control of the Trust. 1.6 Tanglble flxed a$$ets Tangible fixed assets are initially measured at cost and subsequently measured al cost, net of depreciation and any Impairment losses. Depre¢ialion is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases.. Office equipment 25% reduang balance method The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 10-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 A¢¢ounllng poll¢lg$ Icontlnugdl 1.7 Flxod asset invostment$ Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting dale. Changes in fair value a recognised in nel incomellexpenditurel for the year. Transadion costs are expensed as incurred. The quoted investments are stated at middle market price, as valLJed by Quilter Cheviot Limited. The unquoted investment is stated at cost. The trustees are of the opinion that the market value CA the unquoted Investments are not materially different to its cost and including it al cost does not materially affect the true and fair view of the accounts. Should there be any permanent diminution in the value of these investments, the Iruslees will make the necessary provision in the accounts al that lime. 1.8 Impalrment of flxed assets Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemine whether there is any Indication that those assets have suffered an Impaiment loss. If any such Indication exists, the recoverable amount of the asset is eslimaled in order lo detemiine the extent of the impaimenl loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents Indude cash in hand, deposits held 81 call with banks, other short-lerm liquid investments with original malurilies of the months or less, and bank overdrafts. Bank overdrafts are shown wthin borrowings in Current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its finanaal instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presènted in the financial stalemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a net basis or lo realise the asset and settle the liability SimuaneOUSly. 8aslc flnanclal assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Other linancial assets Other financial assets, induding investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is nomially the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net incomellexpenditurel, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured al cost less impairment.
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 A¢¢ounllng poll¢lg$ Icontlnugdl Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the prèsent value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable wthin one year are not amortised. Debt instruments are subsequenuy carried al amortised cost, using the effective interest rale method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employeg bengfits The cost of any unused holiday enliUement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the ¢harily is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. Transactions in foreign currencies are recorded al the rates ruling al the date of the transactior6, and assets and liabilities at the balance sheet dale are converted at the rale ruling on that dale. Crltlcal accountlng estlmates and Judgements The preparation of financial statements in compliance wlh FRS102 requires the use of certain accounting eslimales. 11 also requires management lo exercise judgement in applying the accounting policies. Critical judgements Investment valuation The valuation of investments is ¢onsidered an area of judgement. The ¢harily uses their investment manager lo value their portfolio of listed investments on a quarterly basis. For other investments, an external party has provided a valuation against the properties the loans relate lo. Donatlons and 1oga¢lg$ Unrestrlcted funds Totsl 2023 2022 Donations and grfts 3,001,998 12-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Guy Fawkes Charltable Trust glft Guy Fawkes Charitable Ttusl was 8 related charity due to mutual trustees. A decision was made lo dose the charity during the year with A S Charitable Trust as the beneficiary of the assets as both Charities have similar aims, purposes and working practices. Net assets lolalling £3,001,998 were transferred lo the Trust on 5 April 2023 comprising of the following.. Investments Cash at bank and in hand Other debtors Other Creditors 2,725,383 279,342 2,891 5,619 3,001,998 Investments Unrestricted Unrestricted funds funds 2023 2022 From quoted investments From unquoted investments 490,493 15,566 432,037 114 506,059 432,151 Charitable activities Grantssupport costs Total Total 2023 2023 2023 2022 Grant funding of activities (see note 71 Share of support costs (see note 91 381,045 381,045 133.882 67,470 135,258 133,882 381,045 133,882 514,927 202,728 13-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Grants payable 2023 2022 Alzheimers Society Bibles for Children CHIPS Circles South East Clean Sheet Clinical Theology CMS CMS- Kapikapihan Concordis Intemalional Trust CURTC Embrace Middle East Eternity Downham Market Gra Organisalion Henley & District Agricultural Association Henley Gospel Trust Holy Trinity Slow Bardolph HOPE Coventry Lambelh Trust Langley House Trust Nomad Oriel Ministries Other grants (less than £1.0001 Resurgo Trust Riverside Counselling Royal Berkshire Charity T&RA l Dick Bridgeman Foundation T&RA Ltd The Breakout Trust The Lambeth Trust ILambeth Partnership) The Myton Hospices The Resurgo Trust Tree Aid Urban Expression Wneel Power Worldshare 2,500 5,000 28,875 27,500 50,000 100 3,500 20,250 3,500 10,000 2,500 5,000 2,500 39,820 750 20,000 2,500 2,500 29,820 10,000 100,000 1,000 6,000 400 7,000 1,500 2,500 750 250 5,000 10,000 25,000 5,000 7,000 1,500 5,000 5,000 10,000 381,045 78,470 Coventry Cathedral {11,0001 381.045 67,470 14-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Trustees None of the Iruslees lor any persons connected with them) ceiVed any muneration or benefits from the charity during the year. During the year the Iruslee Mr G Calvocores5i was reimbursed £nil12022 - £5021 for expenses relating lo the charity's opeialions. Support costs Support Governance costs ¢osts 2023 2022 Depreciation Office expenses Telephone Management charges Auditors, fees Accountants fees Consultancy Archive storage Rent 164 1,174 835 84,123 164 1,174 835 84,123 5,000 10,900 12,549 1.051 18,086 149 167 15001 87,148 4,800 7,020 12,584 6.091 17,799 5,000 10,900 12,549 1,051 18,086 117,982 15,900 133,882 135,258 The above support costs are in relation to the ¢harities one income activity which is the investments in stocks and shares as well as costs of grant dislribulion. 10 Employees The average monthly number of employees during the year was". 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. 15-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 11 Net galnslllossesl on Investments Unrestricted Unrestricted funds funds 2023 2022 Revaluation of investments Gainlllossl on sale of Investments {1,430,8541 1618,3121 852,761 801,165 {2,049,1661 1,653,926 12 Taxation The charity is exempt from lax on income and gains falling wrfchin section 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable GainsAcl 1992 to the extent that these are applied to its charitsble objects. 13 Tangible fixed assets Office equipment Cost Al 6 April 2022 2,752 Al 5 April 2023 2,752 Depreciation and impairment Al 6 April 2022 Depreaalion charged in the year 2,094 164 Al 5 April 2023 2,258 Carrying amount At 5 April 2023 494 Al 5 April 2022 658 16-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 14 Flxe(l asset Investments Listed Unlisted Other investments investments investments Cash In portfolio Totsl Cost or valuatlon At 6 April 2022 Additions Net Ilossllgain realised on cost Increase in unrealised gains Disposals 19,542,155 6,516,845 1618,3111 11,419,952) 14,320,338) 3,291 488,757 163,188 3,763,108 20,197,391 10,279,753 1618,3111 {1,4,748) 13,186,866) 17,510,495) 116,7961 13,2911 Al 5 April 2023 19,700,199 471,961 739,430 20,911,590 Carrying amount Al 05 April 2023 19,700,199 471,961 739,430 20,911,590 Al 05 April 2022 19,542,155 3,291 488,757 163,188 20,197,391 15 Debtors 2023 2022 Amounts falling due within one year- Other debtors Prepayments and accrued income 41,445 5,040 72,488 46,485 72,488 16 Credltors: amounts falllng due wlthln one year 2023 2022 Grant accruals Accruals and deferred income 52,339 25,650 32,760 20,400 77,989 53,160 17 Credltors: amounts falllng due after more than one year 2023 2022 Grant accruals 10.000 1,600 17-
A S CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 18 Related party transactlons During the year the charity paid a facilities charge of £15,072 + VAT12022 - £15,625 + VATI lo Kambos Consulting Limited for office space - a company in which one of the trustees is also a director of. No balances were oulslanding at year end12022 £Nill. On 05 April 2023, the trade and assets of The Guy Fawkes Charitable Trust, of which two Iruslees ¥e also trustees of the charity. were donated to A S Charitable Trust. with a total value of £3,001.998, wmprising of investments, cash, debtors and creditors. See note 4 for a detailed breakdown of the donation. 18-