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2022-12-31-accounts

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

Charity Registration No: 244868

The Caledon Trust

Report of the trustees and unaudited financial statements Year ended 31 December 2022

T B Tax Services Bridge House Pattenden Lane Marden Kent TN12 9QJ

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Contents

Pages
Reference and administrative details 3
Report of the trustees 4-7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Statement of Cash Flows 11
Notes to the financial statements 12-17

2

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Reference and Administrative Details For the year ended 31 December 2022

Charity name The Caledon Trust
Registered charity number 244868
Trustees Firmframe Ltd (Co number 08412446)
Southern Fiduciary Ltd (Co. number 08412425)
Principal address Exchange Place
Poseidon Way
Warwick
CV34 6BY
Independent examiner Mike Prior FCA
Sherlocks Chartered Accountants
16 Desborough Avenue
Stanground
Peterborough
PE2 8RG
Accountant T B Tax Services
Accountants
Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ

3

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Report of the Trustees For the year ended 31 December 2022

The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 11 and comply with the Trust Deed and applicable law.

Structure, governance and management

Governing document

The charity is controlled by a deed of trust and constitutes an unincorporated charity.

The Charity is an unincorporated trust constituted by a Deed of Trust dated 3 August 1965. The Trust was registered with the Charity Commission for England and Wales on 29 September 1965 under Charity Registration Number: 244868.

Recruitment and appointment of new trustees

The Boards of Directors of the corporate Trustees meet regularly. The Trustees at the date this report was signed, were as follows:

Firmframe Ltd Southern Fiduciary Ltd

The Directors of Firmframe Ltd and Southern Fiduciary Ltd are as follows:

John Thomas Carruth (appointed 25/01/2022) Benjamin Dunham (appointed 25/01/2022) Peter John Marsh (appointed 25/01/2022) Kenny McMullan (appointed 25/01/2022) Robert Louis Tuffin (appointed 25/01/2022) Laurence Buckley (resigned 20/04/2022) Jeremy James Fentiman (resigned 23/02/2022) Douglas Norman Smart (resigned 23/02/2022)

The power to appoint new trustees is vested with the existing Trustees of the Trust. There is an informal interview and induction process for any new Trustee. Continuing training for Trustees is undertaken through regular meetings and discussions with individuals and organisations in areas supported by the Trust. All Trustees are given the relevant documents to review in relation to the responsibility of a Trustee and the importance of the role, as well as the time commitment required. With regards to specific training, this would relate to their responsibility in the Trust. For example, any Trustee involved with financial matters would receive a specific handover detailing their responsibilities and duties.

Risk management

The Trustees have identified and reviewed the major risks to which the Charity is exposed and confirm that they have established systems or procedures to manage and mitigate those risks.

4

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Report of the Trustees (Cont’d) For the year ended 31 December 2022

Objectives and activities

Objectives and aims

The objects of the Trust, as set out on the Trust deed, are for 1) Preaching and dissemination of the Word of God, 2) Support of Christian workers, 3) Provision and maintenance of buildings for Christian religious worship, 4) Relief of aged or sick Christians or Christians in difficult circumstances. The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, and in future planning activity and setting the grant making policy for the year.

Main activities and achievements

The Trust has made grants totalling £677288 (2021: £161329) to various individuals and organisations, providing relief and support to those in necessitous circumstances and providing funding for medical support. It has also provided temporary loans of £45000 (2021: £20000) to individuals in need. It has also provided funding of £100000 by way of an equity stake in a property purchase for an elderly couple.

Plans for future years

The Trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the Trust to continue as a going concern.

Financial review

Financial position

In the year ended 31 December 2022, the Trust had a surplus of incoming resources over resources expended of £21162 (2021: £286846)

Total voluntary income received this year was £713500 (2021: £450000).

All funds held were unrestricted funds.

Reserves policy

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs, based on its size and the level of its financial commitments. The Trust has no employees and its regular outgoings are minimal. The Trust aims to hold sufficient funds in a current account to cover day to day expenditure, plus an allowance for any urgent needs that may arise.

Unrestricted reserves at the year-end were £208062 (2021: £186900).

5

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Report of the Trustees (Cont’d) For the year ended 31 December 2022

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that year. In preparing those financial statements, the Trustees are required to

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 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. All transactions have been reviewed and approved by two Trustees.

On behalf of the Board:

Robert Tuffin Director of Firmframe Ltd and Southern Fiduciary Ltd Corporate Trustee

2/14/2023

6

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Independent Examiner’s report to the Trustees For the year ended 31 December 2022

I report to the trustees on my examination of the accounts of The Caledon Trust for the year ending 31 December 2022.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

BASIS OF THE INDEPENDENT EXAMINERS REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’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:

  1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act; Or

  2. The accounts do not accord with those records; or

  3. The accounts do 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.

Mike Prior FCA 2/10/2023

Sherlocks Chartered Accountants 16 Desborough Avenue Stanground Peterborough PE2 8RG

7

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Statement of Financial Activities For the year ended 31 December 2022


Notes
Income and endowments from:
Donations and legacies:
Donations
Gift Aid donations
Income tax refunds
Payroll giving
Grants from other Trusts
Investments
Bank interest
Other
Total
Expenditure on:
Charitable activities
Support Costs
Other charitable activities
Total
5
Net income/(expenditure)
Gains/(losses) on sale of fixed
assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Restricted
funds
Total
funds
2022
Total
funds
2021
£
£
£
£
6000
0
6000
0
6000
0
6000
0
1500
0
1500
0
0
0
0
0
700000
0
700000
450000
0
0
0
0
0
0
0
713500
0
713500
450000
3298
0
3298
1825
689040
0
689040
161329
692338
0
692338
163154
21162
0
21162
286846
0
0
0
0
21162
0
21162
286846
286900
0
286900
54
308062
0
308062
286900

The notes on pages 11 to 17 form part of these financial statements. All of the above activities are classed as continuing and there are no gains and losses other than those included above.

8

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Balance Sheet

For the year ended 31 December 2022

Notes
Fixed assets
Intangible assets
Tangible fixed assets
6
Current assets
Debtors:
Loans
7
Prepayments and accrued income
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year:
Other creditors
Accruals and deferred income
Loans
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one
year:
Loans
Net assets
Funds
Unrestricted income fund
Restricted funds
Total charity funds
8		 0
100000		 2022
£


100000





208062		 0
100000		 2021
£


100000





186900
45000
0
164338
20000
0
168155
209338
(176)
(1100)
0		 188155
(175)
(1080)
0






308062
0		 286900
0
308062 286900
308062
0		 286900
0
308062 286900

The unaudited financial statements were approved and authorised for issue by the Trustees of The Caledon Trust on 2/14/2023 and signed on their behalf by

Robert Tuffin

Director of Firmframe Ltd and Southern Fiduciary Ltd Corporate Trustee

The notes on pages 11 to 17 form part of these financial statements

9

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Statement of Cash Flows For the year ended 31 December 2022

Cash flows from operating activities:
Net income/(expenditure) for the reporting period
Adjustments for:
Depreciation charges
0
(Gains)/losses on investments
0
Dividends, interest and rents from investments
0
Loss/(profit) on the sale of fixed assets
0
(Increase)/decrease in creditors
1
Increase/(decrease) in accruals
20
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
0
Proceeds from the sale of property, plant & equipment
0
Purchase of property, plant & equipment
0
Loans made
(25000)
Loans received
0
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Repayments of borrowing
0
Cash inflows from new borrowing
0
Receipt of endowment
0
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of reporting period
Cash and cash equivalents at the end of reporting period
Change in cash and cash equivalents in the reporting period		 2022
£
21162

0

0

0

0

175

1080
21183

0

0

(100000)
(20000)

0
(25000)


0

0

0
0
(3817)
168155
164338
(3817)		 2021
£
286846
288101


-120000


0
168101
54
168155
168101

10

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting policies

1.1 Basis of financial statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and incorporating update bulletins 1 and 2, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.

The functional currency of the charity is sterling (£).

The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 Income

Donations are recognised in the year in which there is entitlement and probability of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year. Gift aid is added to the value of the donation to which it relates.

Donated services are recognised as income and expenditure in the financial statements when organisations or individuals offer their services and support pro bono. The value of these donated services to The Caledon Trust is considered to be equal to market value which would be paid were the service formally procured. This includes services paid for by other trusts. Investment income is accounted for on a receivable basis.

1.3 Expenditure

Expenditure is included on an accruals basis. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Charitable activities comprise those costs directly attributable to the fulfilment of the charitable objects.

1.4 Governance and support costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and costs related to statutory requirements. Governance and support costs are allocated to charitable activities on the basis of capacity used.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets (costing more than £1000) are stated at cost less depreciation.

11

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the year ended 31 December 2022

1.6 Taxation

The Trust is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.

1.7 Funds

The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.

Restricted funds arise from donations to the trust, which are made for a specific purpose. Restricted funds can only be used for the purpose for which funds were given.

1.8

Preparation of consolidated financial statements

The Charity does not have a trading subsidiary and there is no requirement to prepare consolidated accounts

1.9 Going concern

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting year.

2.

Trustees’ remuneration and expenses

No Trustees received any remuneration or other benefits from an employment with the charity and no Trustees were reimbursed for expenses (2021: None).

3. Wages and salaries

There are no employees (2021: none).

12

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the year ended 31 December 2022

4. Resources expended

Current Year
Direct costs:
IT Expenses
Grants to individuals
Grants to organisations
Activity costs
Legal fees
Governance costs
Prior Year
Direct costs:
Insurance
IT Expenses
Grants to individuals
Grants to organisations
Activity costs
Legal fees
Governance costs		 Support Costs
£
0
646
0
0
0
0
2652
3298
Support Costs
£
0
745
0
0
0
0
1080
1825		 Other
charitable
activities
£
0
0
675788
1500
0
11752
0
689040
Other
charitable
activities
£
0
0
160829
500
0
0
0
161329		 2022
£
0
646
675788
1500
0
11752
2652
692338
2021
£
0
745
160829
500
0
0
1080
163154

Governance costs include £1100 (2021: £1080) in respect of independent examiner’s fees.

13

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the year ended 31 December 2022

5. Fixed assets

Cost
B/f at 01/01/2022
Additions
Disposals
At 31/12/2022
Depreciation
B/f at 01/01/2022
Charge for the year
Impairment
Disposals
At 31/12/2022
Net book value
At 31/12/2022
At 31/10/2021
Property details:
134 De Montford Way
6.
Loans
6.1
Loans out
Long term loan
TOTAL		 Equity stake in
property
100000
0
0
100000
0
0
0
0
0
100000
100000
Cost
£ 100,000		 Total
100000
0
0
100000
0
0
0
0
0
100000
100000
Title
WK170443
2022
2021
£
£
45000
20000
45000
20000		 Total
100000
0
0
100000
0
0
0
0
0
100000
100000
Title
WK170443
2022
2021
£
£
45000
20000
45000
20000
Title
WK170443
2022
£
45000
45000
20000

The loan is interest free and there is no connection between the Trustees of The Caledon Trust and the recipients.

14

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the year ended 31 December 2022

7. Analysis of net assets between funds

7.1
Current year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds
7.2
Prior year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds
8.
Movement in funds
8.1
Current year		 Unrestricted
funds
£
100000
209338
(1276)
0
308062
Unrestricted
funds
£
100000
188155
(1255)
0
286900		 Restricted
funds
£
0
0
0
0
0
Restricted
funds
£
0
0
0
0
0		 Total
£
100000
209338
(1276)
0
308062
Total
£
100000
188155
(1255)
0
286900
Restricted funds
Unrestricted funds
Total funds		 Balance at
01/01/22
£
0
286900
286900		 Incoming
resources
£
0
713500
713500		 Resources
expended
£
0
(692338)
(692338)		 Realised/
unrealised
gains and
losses
£
0
0
0		 Balance at
31/12/2022
£
0
308062
308062

15

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the Year ended 31 December 2022

8.2 Prior year

Restricted funds
Unrestricted funds
Total funds		 Balance at
01/11/2020
£
0
54
54		 Incoming
resources
£
0
450000
450000		 Resources
expended
£
0
(163154)
(163154)		 Realised/
unrealised
gains and
losses
£
0
0
0		 Balance at
31/12/2021
£
0
286900
286900

9. Transactions with related parties

There were no transactions in the year to report.

10. Volunteers

The Caledon Trust relies entirely on volunteers to carry out the management, administration and general maintenance work. The Trust has no paid staff or paid Trustees.

16

DocuSign Envelope ID: C96D970C-B72E-4C8F-80F7-515D5F31A4D3

The Caledon Trust

Notes to the Financial Statements For the Year ended 31 December 2022

11. Comparative Statement of Financial Activities


Notes
Income and endowments from:
Donations and legacies:
Donations
Gift Aid donations
Income tax refunds
Payroll giving
Grants from other Trusts
Investments
Bank interest
Other
Total
Expenditure on:
Charitable activities
Support Costs
Other charitable activities
Total
5
Net income/(expenditure)
Gains/(losses) on sale of fixed assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Restricted
funds
Total funds
2021
£
£
£
0
0
0
0
0
0
0
0
0
0
0
0
450000
0
450000
0
0
0
0
0
450000
0
450000
1825
0
1825
161329
0
161329
163154
0
163154
286846
0
286846
0
0
0
286846
0
286846
54
0
54
286900
0
286900

17