| Page | |
|---|---|
| ReferenceandadministrativedetailsoftheTrust,itsTrusteesandadvisers | 1 |
| Trustees’report | 2-5 |
| Independentauditor'sreportonthefinancialstatements | 6-9 |
| Statementoffinancialactivities | 10 |
| Balancesheet | 11 |
| Statementofcashflows | 12 |
| Notestothefinancialstatements | 13-25 |
| Trustees | LockwellTrusteesLimited,CorporateTrustee |
|---|---|
| ThefollowingaredirectorsoftheCorporateTrustee: | |
| Mr J ANCampbell |
|
| MsGECampbell | |
| MrsJCChalmers,Chair | |
| MrJMCampbell | |
| DrCMPercy(Resigned12June2023) | |
| Miss ACampbell |
|
| MrMCampbell | |
| MissEGChalmers | |
| MsJKBrown | |
| MissRECampbell | |
| MrCGPercy | |
| Charityregistered | |
| number | 245061 |
| Principaloffice | SpringfieldHouse |
| SpringfieldRoad | |
| Horsham | |
| WestSussex | |
| RH122RG | |
| Independentauditor | KrestonReevesLLP |
| CharteredAccountants | |
| StatutoryAuditor | |
| SpringfieldHouse | |
| SpringfieldRoad | |
| Horsham | |
| WestSussex | |
| RH122RG | |
| Bankers | LloydsBankPlc |
| 1WestStreet | |
| Horsham | |
| WestSussex | |
| RH121PA | |
| InvestmentAdvisors | CloseBrothersAssetManagement |
| 10ExchangeSquare | |
| PrimroseStreet | |
| London | |
| EC2A2BY |
19 December 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | |
| Incomefrom: | ||||
| Donationsandlegacies | 4 | - | - | 23,000 |
| Investments | 5 | 630,891 | 630,891 | 712,997 |
| Totalincome | 630,891 | 630,891 | 735,997 | |
| Expenditureon: | ||||
| Raisingfunds | 7 | 84,773 | 84,773 | 83,562 |
| Charitableactivities | 7 | 1,443,944 | 1,443,944 | 1,507,088 |
| Totalexpenditure | 1,528,717 | 1,528,717 | 1,590,650 | |
| Netexpenditurebeforenetgains/(losses)on | ||||
| investments | (897,826) | (897,826) | (854,653) | |
| Netgains/(losses)oninvestments | 1,598,511 | 1,598,511 | (590,254) | |
| Netmovementinfunds | 700,685 | 700,685 | (1,444,907) | |
| Reconciliationoffunds: | ||||
| Totalfundsbroughtforward | 21,054,632 | 21,054,632 | 22,499,539 | |
| Netmovementinfunds | 700,685 | 700,685 | (1,444,907) | |
| Totalfundscarriedforward | 21,755,317 | 21,755,317 | 21,054,632 |
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixedassets | |||||
| Investments | 10 | 21,833,628 | 21,199,311 | ||
| 21,833,628 | 21,199,311 | ||||
| Currentassets | |||||
| Debtors | 11 | 56,079 | 28,398 | ||
| Cashatbankandinhand | 33,132 | 44,903 | |||
| 89,211 | 73,301 | ||||
| Creditors:amountsfallingduewithinone | |||||
| year | 12 | (120,022) | (182,980) | ||
| Netcurrentassets | 21,802,817 | 21,089,632 | |||
| Totalassetslesscurrentliabilities | 21,802,817 | 21,089,632 | |||
| Creditors:amountsfallingdueaftermore | |||||
| thanoneyear | 13 | (47,500) | (35,000) | ||
| Totalnetassets | 21,755,317 | 21,054,632 | |||
| Charityfunds | |||||
| Restrictedfunds | - | - | |||
| Unrestrictedfunds | |||||
| Generalfunds | 21,755,317 | 21,054,632 | |||
| Totalunrestrictedfunds | 21,755,317 | 21,054,632 | |||
| Totalfunds | 21,755,317 | 21,054,632 |
| Statementofcashflows | ||
|---|---|---|
| Fortheyearended5April2024 | ||
| 2024 £ |
2023 £ |
|
| Cashflowsfromoperatingactivities | ||
| Netcashusedinoperatingactivities | (521,096) | (1,046,211) |
| Cashflowsfrominvestingactivities | ||
| Proceedsfromsaleofinvestments Purchaseofinvestments |
1,935,386 (1,426,061) |
1,766,678 (730,661) |
| Netcashprovidedbyinvestingactivities | 509,325 | 1,036,017 |
| Changeincashandcashequivalentsintheyear | (11,771) | (10,194) |
| Cashandcashequivalentsatthebeginningoftheyear | 44,903 | 55,097 |
| Cashandcashequivalentsattheendoftheyear | 33,132 | 44,903 |
| Thenotesonpages13to25formpartofthesefinancialstatements |
| 4. | Incomefromdonationsandlegacies |
|---|---|
| Legacies | |
| Legacies | |
| 5. | Investmentincome |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Legacies | ||
| Unrestricted | Total | |
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Legacies | 23,000 | 23,000 |
| 23,000 | 23,000 | |
| Investmentincome | ||
| Unrestricted | Total | |
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Incomefromlocallistedinvestments | 219,031 | 219,031 |
| Investmentincome-foreignlistedinvestments | 313,655 | 313,655 |
| Investmentincome(CPAgrossinterestreceivable) | 22,102 | 22,102 |
| Investmentincome-otherlocalinvestments | 26,419 | 26,419 |
| Investmentincome-otherforeigninvestments | 49,684 | 49,684 |
| 630,891 | 630,891 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Incomefromlocallistedinvestments | 384,586 | 384,586 |
| Investmentincome-foreignlistedinvestments | 254,784 | 254,784 |
| Investmentincome(CPAgrossinterestreceivable) | 3,826 | 3,826 |
| Investmentincome-otherlocalinvestments | 23,925 | 23,925 |
| Investmentincome-otherforeigninvestments | 45,876 | 45,876 |
| 712,997 | 712,997 |
| 6. | Analysisofgrants(continued) | Analysisofgrants(continued) | |
|---|---|---|---|
| NACOA | 20,000 | ||
| NicheInternational | 15,000 | ||
| NuffieldFarmingScholarshipsTrusts | 10,000 | ||
| OesophagealPatientsAssociation | 10,000 | ||
| OfftheStreets | 5,000 | ||
| One25 | 20,000 | ||
| PlantYourFuture | 15,000 | ||
| PlayBuddiesTrust | 5,000 | ||
| PrisonersAbroad | 5,000 | ||
| RambertSchoolofBallet | &ContemporaryDance | 10,000 | |
| Re-Cycle | 6,000 | ||
| RegionalScreenScotland | 5,000 | ||
| Restore | 30,000 | ||
| RightTrackScotland | 12,000 | ||
| RiversideCounsellingService | 10,000 | ||
| RoyalAgriculturalBenevolentInstitution | 15,000 | ||
| SaveTheChildren | 125,000 | ||
| ScottishWildlifeTrust | 15,000 | ||
| ScoutsScotland | 2,000 | ||
| SenseInternational | 9,000 | ||
| ShelterScotland | 10,000 | ||
| Shelterbox | 15,000 | ||
| SightScotland | 5,000 | ||
| SiglodeOro | 8,000 | ||
| SOFEA | 45,000 | ||
| SolarAid | 10,000 | ||
| SpencerContact | 10,000 | ||
| StMungos | 25,000 | ||
| StreetChild | 30,000 | ||
| SupportDogs | 5,000 | ||
| TheAdamiProject,Sierra | Leone | 4,000 | |
| TheArmonicoConsort | 5,000 | ||
| TheCrawickMultiverseTrust | 5,000 | ||
| TheDashCharity | 10,000 | ||
| TheHertfordshireCommunityFoundation | 20,000 | ||
| TheOpenUniversityScholarshipFund | 20,000 | ||
| TheRoyalNationalOrthopaedicHospitalNHSTrust | 5,000 | ||
| TheRoyalNationalCollegefortheBlind | 5,000 | ||
| TheRoyalNationalInstituteforDeafPeople | 10,000 | ||
| TheSnitterfieldVillageHall | 25,000 | ||
| TheUpperRoom | 37,500 | ||
| TinnitusUK | 15,000 | ||
| TrinityCommunityArts | 130,000 | ||
| Waterside | 5,000 | ||
| WhizzKidz | 7,000 | ||
| WintercomfortfortheHomeless | 10,000 | ||
| WycombeYouthAction | 5,000 | ||
| TotalGrants | 1,413,000 |
| Grant | ||||
|---|---|---|---|---|
| fundingof | Support | Total | ||
| activities | costs | funds | ||
| 2024 | 2024 | 2024 | ||
| £ | £ | £ | ||
| Direct | costs | 1,413,000 | 30,944 | 1,443,944 |
| Grant | ||||
| fundingof | Support | Total | ||
| activities | costs | funds | ||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| Direct | costs | 1,479,500 | 27,588 | 1,507,088 |
| Total | ||
|---|---|---|
| Activities | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Supportcosts-bankcharges | 163 | 163 |
| Supportcosts-Auditors’nonauditcosts | 14,500 | 14,500 |
| Governancecosts | 16,281 | 16,281 |
| 30,944 | 30,944 | |
| Total | ||
| Activities | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Supportcosts-bankcharges | 144 | 144 |
| Supportcosts-Auditors’nonauditcosts | 14,271 | 14,271 |
| Governancecosts | 13,173 | 13,173 |
| 27,588 | 27,588 |
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| FeespayabletotheTrust'sauditorfortheauditoftheTrust'sannual | ||
| accounts | 14,500 | 14,271 |
| FeespayabletotheTrust'sauditorinrespectof: | ||
| Allnon-auditservicesnotincludedabove | 16,281 | 13,173 |
| Listed | |||||
|---|---|---|---|---|---|
| investments | Cash | Total | |||
| £ | £ | £ | |||
| Costorvaluation | |||||
| At6April2023 | 20,470,334 | 728,977 | 21,199,311 | ||
| Additions | 1,426,061 | - | 1,426,061 | ||
| Disposals | (1,935,386) | (471,298) | (2,406,684) | ||
| Revaluations | 1,614,940 | - | 1,614,940 | ||
| At5April2024 | 21,575,949 | 257,679 | 21,833,628 | ||
| Netbookvalue | |||||
| At5April2024 | 21,575,949 | 257,679 | 21,833,628 | ||
| At5April2023 | 20,470,334 | 728,977 | 21,199,311 | ||
| Attheyearend,thehistorical | costofthelistedsecuritiesheldby theTrust | is£15,073,037(2023 |
- | ||
| £15,403,353). | |||||
| Withinlistedsecuritiesareoverseasinvestmentswithafairvalueof£14,378,221(2023 | -£13,361,283). | ||||
| AllotherlistedinvestmentsareatfairvaluewithintheUnitedKingdom. |
| 11. | Debtors | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Duewithinoneyear | ||||
| Prepaymentsandaccruedincome | 52,679 | 24,918 | ||
| Taxrecoverable | 3,400 | 3,480 | ||
| 56,079 | 28,398 | |||
| 12. | Creditors:Amountsfallingduewithin | oneyear | ||
| 2024 | 2023 | |||
| £ | £ | |||
| Othercreditors | 78,214 | 145,500 | ||
| Accrualsanddeferredincome | 41,808 | 37,480 | ||
| 120,022 | 182,980 | |||
| 13. | Creditors:Amountsfallingdueafter | morethanoneyear | ||
| 2024 | 2023 | |||
| £ | £ | |||
| Othercreditors | 47,500 | 35,000 | ||
| 14. | Analysisofnetassetsbetweenfunds | |||
| Analysisofnetassetsbetweenfunds | -currentperiod |
|||
| Unrestricted | Total | |||
| funds | funds | |||
| 2024 | 2024 | |||
| £ | £ | |||
| Fixedassetinvestments | 21,575,949 | 21,575,949 | ||
| Tradeinvestments | 257,679 | 257,679 | ||
| Currentassets | 89,211 | 89,211 | ||
| Creditorsduewithinoneyear | (120,022) | (120,022) | ||
| Creditorsdueinmorethanoneyear | (47,500) | (47,500) | ||
| Total | 21,755,317 | 21,755,317 |
| Unrestricted | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2023 | 2023 | |||||
| £ | £ | |||||
| Fixedassetinvestments | 20,470,334 | 20,470,334 | ||||
| Tradeinvestments | 728,977 | 728,977 | ||||
| Currentassets | 73,301 | 73,301 | ||||
| Creditorsduewithinoneyear | (182,980) | (182,980) | ||||
| Creditorsdueinmorethanone | year | (35,000) | (35,000) | |||
| Total | 21,054,632 | 21,054,632 | ||||
| Reconciliationofnetmovement | infunds | to | netcashflow | fromoperatingactivities | ||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Netincome/expenditure for |
the | period | (as | perStatement | ofFinancial |
|
| Activities) | 700,685 | (1,444,907) | ||||
| Adjustmentsfor: | ||||||
| Unrealisedloss/(gains)oninvestments | (1,143,642) | 991,822 | ||||
| Decrease/(increase)indebtors | (27,681) | 85,793 | ||||
| Increase/(decrease)increditors | (50,458) | 46,375 | ||||
| Netcashusedinoperatingactivities | (521,096) | (320,917) | ||||
| Analysisofcashandcashequivalents | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Cashinhand | 33,132 | 44,903 | ||||
| Totalcashandcashequivalents | 33,132 | 44,903 |
| At | 6April | At5April | |||||
|---|---|---|---|---|---|---|---|
| 2023 | Cashflows | 2024 | |||||
| £ | £ | £ | |||||
| Cashat | bankand | in | hand | 44,903 | (11,771) | 33,132 | |
| 44,903 | (11,771) | 33,132 |
| Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno obligationsexisted inrespectofthesegrants.TheTrusthadnotindicated itsintentionstothegrant |
Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno obligationsexisted inrespectofthesegrants.TheTrusthadnotindicated itsintentionstothegrant |
Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno obligationsexisted inrespectofthesegrants.TheTrusthadnotindicated itsintentionstothegrant |
|---|---|---|
| recipients,thereforenovalidexpectationwascreatedwiththeotherparties. | ||
| 2024 | 2023 | |
| £ | £ | |
| At5April2024theTrusthadcommitmentsasfollows: | ||
| Commitmentsinrespectofgrantsapprovedforprojectswhichhave | ||
| notbeenaccruedinthefinancialstatementsbutwillformpartof | ||
| grants: | ||
| Withinoneyear | 35,000 | 52,000 |
| 35,000 | 52,000 | |
| ReconciliationoftheGrantCommitments | 2024 £ |
2023 £ |
| Openinggrantcommitment | 52,000 | 105,000 |
| ChargedtotheStatementofFinancialActivityintheyear | (17,000) | (90,000) |
| Grantcommitmentswithdrawn | (10,000) | - |
| Newgrantcommitmentsintheyear | 10,000 | 37,000 |
| 35,000 | 52,000 |
| Totalcharitablegrantspayableandcommitted | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Accrued | 130,000 | 180,500 |
| Commitment(above) | 35,000 | 52,000 |
| 165,000 | 232,500 |