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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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