WHITEGATES CHILDREN'S TRUST TRUSTEES, IiKPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 REGISTERED CHARITY NO. 2586S3
WHJTEGATES CHILDRKN'S TRUST CONTENTS Page Chtrlty Informatlon Trustees, Report Independent Exminer's Report Statement of FinaneiAI Activities Blanee Sheet Notes to the ViDanc141 Statements The following page does not form part of the statutory Flnanelal Statements Operatlng Accowit
WHITEGATES CHILDREN'S TRUST CHARITY INFORMATION FOR THK YEAR ENDED 5TH APRIL 2023 TRUSTEES: B J Tighe R E Weaving D A Wootle C S Wright CHARITYNO: 258653 CORRESPONDENT ADDRESS: 21 Lugtrout Lane Solihull West Midlands B912SB INDEPENDENT EXAMINERS: R J Beresford Charles Lovell & Co Chartered Certified Accountants Re8lStered Auditors 8 Church Green East Redditch Worcestershtre B98 8BP BANKERS.. Bawlays Bank pl¢ 15 Colmor¢ Row Bsrmingham B3 2EP Page I
WHITEGATKS CHILDREN'S TRUST RKPORT HE TRUST FOR THE YEAR ENDED 5TH APRIL 2023 Th¢ trustees pr¢5ent their report and financial statements for the year ended 5th April 2023. STRUCTURE COVERNANCE AND MANAGEMEN TRUSTEES Thc truytees named the Charity Inforniation Report havc seNed throughout the year except where specified. Appointment of tn]stees is governed by th¢ Twsi De¢d of thc charity and by thc schcme approved by the Charity Commission¢rs for England and Wale5 dated 3rd May 2002. The Board of Trustees is auihorised to appoint new trustees to fill vacancies arising through resignotion or death of an existing trustee. CONSTITUTION The Whitegates Childten's Trust is conStit¢d by the Trust Deed dated 27th Febnwy 1969 gnd now governed by ihe scheme dated 3rd M8y 2002. OBJECTIVES AND A TIVITIES OBJECTS AND POLICIES The objects of rhe ChltY are.. (l} the relief of young persons, including former beneficiaries of Tutnall Children's Home, who through poveriy, deprivation or abuse. are in conditions of need, hardship or distress.. (21 to promote the educaiion of such young persons in such ways as the ttustees shall think fit. DELIVERING PUBLIC BENEFIT The ttustees have complied with the duty in sectiort 4 of the 2011 Charities Act to have dut regard to guidan¢¢ published by the Chariiy Commission, ineluding public benefit guidance. The charity provides grants to charities involved with children. The trustees consider that these grants provide a Pilblic benefit. HtEVEMENTS AND PERFORMANCE DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS The investm¢nt income received from investments and from funds placed on deposit was used to make grants to a number of ¢haritie5 involv¢d with childrcn. Furthcr grants will bc made in the current year. FINANCIAL REVIEW INVESTMENT POWERS & POLICIES The Twst Deed authorises the trustees to make and hold investments authorised by law for snv¢slrn¢nt of Trust funds with power lo vary such investments from time to time. The Tntstee5 in coiisuliation with the charit8 investment advisors have a policy of spreading investm¢nts )¢r055 a broad sector of the economy to rcducc risk and obtain medium term growth and maintainable income. Pagc 2
WHITEGATES CHILDREIY'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2023 eontlnucd. FINANCIAL REVIEW RESERVES POLICY The Trustees have reviewed the reserves of the charity and these consist ofthe accumillated funds carried fonvard at 3 1st March 2003 following the closure of Tutnall Childrcn's Home (Whiiegalesl logeth¢r wilh th¢ sale proc¢eds of the property and its contents. Capital gains on investments are added to r¢s¢rves as and when they arise. The reserves are held to produce income to be used in the furtherance of the chartty's objects. FINANCIAL REVIEW Total income amoiints to £58,812 {£42.548.. 20221. After dcdu¢ting net rn3nagement and administration expenses of £1,645 and grant5 of £27,000 {£1,445 and £19,500.. 2022) a sutplus of £30,167 {siirpliis of £21,603-. 2022) was added to the fund5 ¢arri¢d forward. IUSK MANAGEMENT The Trustees have reviewed the major risks that the cknrity fa¢¢s and ¢onfim) ihat systems have been established to minimis¢ thes¢ risks. STATEMENT OF TRUSTEES, RESPONSIBILtTEES The Iruslees are required under the Chafilies Act 2011 to prepare financial stat¢ments for each financial year which give a true and fair view of the charity's financial activities during th¢ year and o(iis financial position al the end of the year lut)less the Charity 15 entitSed to prepare aceoLints on the alternative receipts and payments basis). In pr¢paring fan¢1#1 statements giving & true and fair view. Ihe tnjstees should follow begt practice and.. (a) select suirable accounting policies and apply them consistently; (b) make judg¢ment5 and estimates that ar¢ reasonable ad prudent., 1¢) state whether appli¢abl¢ a¢¢ounting standards and statements of recommended practice have been followed, sllbject to any d¢partiir¢s dis¢los¢d and explained in the financial statemeiils,. (d) prepare the financial statements on a going coneem basis unless tt is inappropriate to presiime that the cl)arity will continue in operation. The knislees are responsible for keeping accounting records which di5clos¢ with reasonable aeciiracy the financial position of the charity and which enable them ID ensure that the financial statements comply wiih applicable law and regulations. They are also responsibl¢ for safeguarding the assets of ihe charity and hence for taking r¢a50nabl¢ steps for thc pr¢v¢ntion and detection of fraud at)d other irregularitie5. APPROVAL The r¢pori was approved th trustees on 07th June 2024 and signed on their behhlf. Woott Trus Pa8e 3
WHITEGATE CHILDREN'S TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accoLmts of the Charity for the year ended 5th April 2023, which are set out on pages 5 to 8. RESPECTIVE RESPONSIBJLITIES OF TRUSTEES AND EXAMINER The cliarity's trustees are responsible for the preparation of the accounts. The charl5 tr115tCC5 consider that an audit is not required for this year under section 144 of the Charitie5 Act 2011 (the 2011 Act) and ihat an ind¢p¢ndent examination is required. li is my responsibility lo examine th¢ a¢counts under 5¢Ction 145 of the 2011 Act, lo follow the proc¢diircs laid down in the General Directions given by the Charity Commission under section 14515)Ib) of ihe 2011 Act End to state whether particular matters hav¢ come to my attention. BASIS OF INDEPEP4DENT EXAMINER'S REPORT My examination was carried out in ae¢ordance with the General Directions given by the Charity Commission. An exalnination includes a review of the accounting r¢cords kept by thc Cliarty and a comparison of the accounts presenred with ihose recoTds. It also includes consideration of any unusual items or disclosures in th¢ accounts, and the seeking of explanations from you as trustees con¢erning aThy such Matters. The pio¢edures undertaken do not provid¢ all the evid¢n¢e that would b¢ required in an audit and, consequently, no opinion is givcn as to whether the accounts present a'truc and fair vi¢w' and the report is limited lo those attErS set out in the statement below. INDEPENDENT EXAMIf4ER'S sfATEMENT In connection with my examinatlon, DO matt¢r has Come to my aiieniion.. l. Which give5 me reasonabl¢ ¢aus¢ to believe that in any material respeci the r¢quir¢m¢ntS to k¢ep accounting records in aceordanee with s.130 of the Charities Act 2011.. and to prepare accoiEnts which accord with the a¢countit)g records and to comply iviih the accounting requirem¢nt5 of th¢ 2011 Act have not been met,. or 2. To which, in Tny opinion, attention shtsuld be drawn in order to ¢nabl¢ a proper ndcistanding of the accounls io be reached. R J Beresford Chai'les Lovell & Co Association of Chart¢red C¢rlified Ae¢ountants Chartered Ccrtificd Aecountanls Registered Auditors 8 Church Green East Redditch Worcestershire B98 8BP Dat¢.' 07th June 2024 Pagc 4
WHITEGATES CHILDREN'S TRUST TATEM OF FIIYANCIAL ACTIVITI INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE IAR END TH APRIL 2 23 Note Unr¢stricted Funds y¢ar ¢nd¢d 05.04.22 year ended 05.04.23 Incomillg resources Incoming iesorii-cesfroin generaledfujids.. tnvestment income Interest receivable Inveslment income receivable 58,804 42,546 Total incoming re50urce5 58,812 42,548 Resources expended Cliai ifable ocliviliv.s.' Costs of activities in furth¢ran¢¢ of the charity's objeets.. Managemenl & admini8lration - Grants 1,645 27.000 1,445 19,500 Total re50vrce5 expended 28,645 20,945 Net Income l {Expendltllre) for tbe yeAr 30,167 21,603 Other rec•gniscd 005ses)Igaln5 Gaipis aiid losses ort Iiivesiiiieiil assels -IR¢duclionl I gain in mark¢t valu¢ of invcstment5 as at 5th April 2023 Net movement in lund$ (30,1561 133,680 155,283 Fund balances brought forword ai 6th April 2022 1,752,844 1,597,561 nd balAnces earrled forward at 5th April 2023 1,752,855 1,752,844 All gains and losses reeognised in the period are included abov¢. Page 5
WHITEGATE CHILDREN'S TRUST BALANCE SHEET AS AT 5TH APRIL 2023 05.04.23 05.04.22 Note Fixed assets Investments 1,458,725 1,488,881 Current asset5 Cash ai bank & in hand 296,770 265,283 Cllrrent li8bilitie$ Creditors (amounts falltng du¢ within one yearl 2,640 1,320 Total as$et$ less eurremt Ilabllltle8 294,130 263,963 Net 3ssets 1.752,855 1,752.844 Funds Unrestricted income funds Accumulated fund 1.752,855 1,752,844 Approved by rhe tnl¢eS on 07th June 2024 and signed on their behalf by'.- D A Wootten slee Page 6
WHITEGATES CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEI¥IEl+rrs R THE YEAR EP4DED 5TH APRIL 2023 l. Accouf4TING POLICIES (A)B#g1s of prepArAtlon The finat]cial stateTnents of th¢ ¢harity, which is a public benefit entity under FRS 102, have been prepared in accordanc¢ with the Charitl¢s SORP {FRS 102)'A¢¢ounting and Reporting by Charities: Statement of Recommended Practice applicable to charitics prcparing their Jc¢ount$ in accordan¢c with the Finan¢ial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effeetive l January),, Financial Reporiing Standard 102 The Financial Reponing Standard applicable in the UK and Republic of Ireland, and the Charitics A¢t 2011. The fEnancial statements have bccn prepad under the histori¢al cost convention with the exceptioTh of inve5tment5 which are included at market value. Ibl Fund aecountlng Gencral funds are unstrICted funds which are available for use at the discretion of the trustees i furtherance of the general objectives of the chariry and which have not been designated for other purpose5. Restricted funds are funds which are to be used in actord8n¢e with th¢ specifie r¢strÈ¢tions imposed by donors or which havc been raised by the charity for particular purposes. The Charity did not hold any restricted funds during llie y¢ar. (c)Donalions Donations are credited to income and expendilure aecounls in the y¢ar in whi¢h ih¢y ar¢ r¢ceived. (dJCgpit&l grants and leg8cle$ Capital grants and legaci¢s received are credited to the income and expenditure account in the year in which they are received. (e) G4ln51(losses) inve5tmentS Gains/(loss¢sl on investments are creditedllchargedl to the SOFA in the period to which they relate. 2. TOTAL RESOURCES EXPENDED 05.04.23 05.04.22 Co$t$ of ¢h&rltable #¢tivities (al Care of chEldren'. Graiils made 27,000 19,500 Ibl Managemeni & 2dministraÉion'. Bank & professional ch8r8CS Office expenses 1,645 1,445 1.645 1,445 TOTAL EXPENDITURE 28,645 20,945 3, STAFF COSTS No Iruslce of Whilegates Children's Trust received any emoluments during the year {2022.. £Nil}. The trustees neither received nor waived any emoliiments during the year {2022.. £Nill and no out of pocket expenses were r¢irnburs¢d. Page 7
WFIITEGATES CHILDREN'S TRUST NOTES TO THE FINLNCIAL STATEMENrs FOR THE YEAR ENDED 5TH APRIL 2023 4. FIXED ASSET INVESTMENTS 05.04.23 05.04.22 Market value at 6th April 2022 Net Irediiciion) I gain on revaluation ai 5th April 2023 Capital r¢tUTn¢d 1.488,881 130,1561 1,355.201 133,680 Market value at 5th April 2023 1,458,725 1,488.881 Cost al 5th April 2023 762,907 762,907 5. CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR) 05.04.23 05.04.22 Accnjals & deferred income 2,640 1,320 6. ACCUMULATED FUND 05.04.23 OS.04.22 Balance at 6th April 2022 Surpliis l (Deficit) for the year Nei Ltnrealised {losses) / gains 1,752,844 30,167 130.1561 1,597,561 21,603 133.680 Balance at 5th April 2023 1,752.855 ,752,844 Page 8
WHITEGATES CHILDREN'S TRUST RATIYG Accouf4T FOR THE YEAR ENDED 5TH APRIL 2023 y¢Jr ended 05.04.23 ycar endcd 05.04.22 INCOME Interesi receivable Inveslrnent income Tcceivablc 58,804 58,812 42,546 42,548 DEDUCT: OVERHEADS Grants made.. Birniingham Boys, & Girls, Union Bimiingham Phab Camps Childhood First Christad¢lphian M¢al - A- Day Fund Dodford Children's Holiday Farni Eve Brook Scholarship Fund Friends of Fox Hollies School Gitta Insley Halow J¢llybabi¢s Nurs¢ry & Pr¢-S¢hool Mercy Ships St Basils The Christine Witciitt Memorial Fund Ukrainc Donatio Welcome W¢5ton Turville Wells for TaDzania YMCA Heart of England 4,(K)O 2.000 5,000 500 1,000 3,000 5.000 2.000 2,000 7,000 10.(K)O 5,(K)O 19,500 27,000 Indep¢nd¢nt Examinees F¢¢s Bank & prof¢5sional charges Office Cxpcnscs 1,320 325 1,313 132 28.645 20,945 (DEFICITNSURPLUS FOR THE YEAR 30,167 21,603 Page 9