WHITEGATES CHILDREN'S TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 REGISTERED CHARITY NO. 258653
WHITEGATES CHILDREN'S TRUST CONTEP4TS Page Charlty Inform#tion Trustees, Report Independeiit Examin¢r's Report St*tement of Flnmnelal Aetlvltles Bhlttnee Shtet Notes to the Finaneial Statements Th¢ following page does not form parl of the stAlutory FiMAneig1 Stgtem¢nl$ Oper81ing Account
WHITEGATE HILD CHARITY INFORMATION HE YEAR ENDED 5TH APRIL 2024 TRUSTEES: B J Tighe D A Wootien C S Wright CHARITY NO: 258653 CORRESPONDEt+rr ADDRESS: 21 Lugtrout LaD¢ Solihull West Midland5 B912SB INDEPENDENT EXAMINERS: R J Beresford Charles Lovell & Co Chanered Certified Accountants Register¢d Auditors 8 Church Gre¢n East R¢ddit¢h Woirestershire B98 8BP BANKERS: Barclays Bank plc 15 Colmore Row Binningham B3 2EP Page I
EGATES CHILDREN'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL20 The t¥usiee$ present their report and financial statemenis for the year ended 5th April 2024. STR VERP4ANCE AND MANACEMENT TRUSTEES The trustecs named in the Charity Infomiation Report have serv¢d throughout the year except where specified. Appointment of trustees is governed by ihe Tyusi Deed of the charity and by the scheme approved by the Charity Commissioners for England and Wales dated 3rd May 2002. The Board of Trustees 15 authorised to appoint new Èrustees to fill vacancies 8Tissng through resignation oi. death of an existing trustee. CONSTITUTION The Whitegates Children's Trst is constituted by the Trust Deed dated 27th FebTuary 1969 and now governed by the scheme dated 3rd May 2002. OBJECTIVES AND ACTIVITIES OWEcfs AND POLICIES The object5 of the charity are.. (l) Ihe relief of young persons, including former beneficiaries of Tutnall Children'5 Home, who through poverty, deprivation OT abuse, are iii condiÉions of need. hardsliip oi. distlES5'. (2) to promote the education of such young p¢rs(Trns in such ways as the trusiees shall think fit. DELIVERING PUBLIC BENEFIT The trustee5 liave complied with the duty in section 4 of the 2011 Charities Act to have due regard to guidance published by the Chariry Commission, including public benefit guidance. The charity provides grants to charities involved wi¢h children. The trustees consid¢r that these gTants provide a public benefit. ACHIEVEMENTS AND PERFORMANCE DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS The investment income received from investments and fix>m fndS placed on deposit was used to make grants to a number of ¢liarities involved wilh children. Further grants will be made in the current year. FINANCIAL REVIEW INVESTMENT POWERS & POLICIES The Trust Deed authorises ihe irusiees to make and hold investrnents authoTis¢d by law for investmellt of Trust funds with power to vary such investments from time to time. The Trustees in ¢onsultation with the charity's investment advi50r5 have a policy of SPTeading investmen15 across a broad sector of the economy to reduce risk and obtain medium term gri)wth and maintainable income. Page 2
S CHILDREN. TR REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL2024 conliiiued... FINANCIAL RE4VIEW RESERVES POLICY The TTUStees have reviewed the reserve5 of the charity and these consist of the accumulated funds carried forward at 31 st March 2003 following the closure of Tutnall Children's Home (Whiiegaies) together with the sale proceeds of the property aiid irs contents. Capital gains on investments are added to reserves as and when they arise. The reserves are held to produce income to be used in the furtherance of the charity's objecis. FINANCIAL REVIEW Total income amounts 10 £56.111 (£58.812'. 2023). After deducting net management and adminisiration expenses of £1,51 l and grants of £36.250 (£1.645 and £27.000'. 2023) a surplus of £18.350 (surplus of £30,167.. 20231 was added to the funds carried forward. RISK MANAGEMENT Th¢ Trustees have r¢vi¢wed th¢ major risk5 that th¢ charity fa¢es and confirm that Systems have been establhshed to minimise th¢se TlSks. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are required under the Charities Act 2011 to prepare financial statements for each finan¢ial year whicli give a true and fair view of the charity's financial activities during th¢ y¢ar and ol its financial position a( tl)¢ end gf th¢ year (unl¢ss th¢ Charity 15 entitled to prepare accounts on the alternative receipts and payment5 basis). In pr¢paring finan¢ial Statements giving a true and fair view. the trustees should follow best prdctice and.. (a) select suitable accounting policies and apply thern con51Stently,' (b) make judgements and esiimates thai are reasonable and pi'udent., (c} state whether applicable accounting standards and statements of reeommended practice have been followed, subject to any departuies disclosed and explained in the financial statements; Id) prepare the financial statements on a going concem basis unless it is inappropriate to presume that Ihe charity will continue in operation. The trtjstees are responsible for k¢eping accounting re¢ords which disc105e with Itasonable accuraey the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking re8sonable steps for the prevention and detection of fraud and other irregularities. APPROVAL The report was a ed by the trustees on 31 st December 2024 and signed on their behalf. oolten Trustee Page 3
WHI TES CHILDREN'S TRUST INDEPF,NDENT EXAMINCR'S REPORT TO HE TRUSTEES I report on ihe a¢eounts of the Charity for the year ended 5th April 2024, which ar¢ set out on pages 5 to 8. RESPECTIVE RESPONSIBILITIES OFTRUSTEES AND EXAMINER The charity's trustees are responsible for the preparation of the account5. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 {Ihe 2011 Act) and that an independent examination is requiird. It is my responsibility to examine the accounts under section 145 of the 2011 Act, to follow Ihe PTocedures laid down in the General Dire¢tlOll5 given by the Charity Commission under section 145(51(bl of the 2011 Act and to stste whether particular matters have come lo my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examinaiion was carried out in accordan¢¢ with the General Directions given by the Chai'ity Commission. An examination includes a review of the accouniing records kept by the Cliarity and a comparison of rhe account5 presented with those records. It also includes consideration of any unusual iiems or disc105ures in the accounts, and the seeking of explanation5 from you as trustees concerning any such matter5. Tl)e proceduiES undei1aken do noi prOVde all the evid¢n¢e that would be required in an audit and, consequently, no opinion is given a5 to whether the a¢¢ounls present a'true and fair view, and the report Is limited to thos¢ matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT It) connection with my examination, no matter has come to my attention- l. Which gives me reasonable ¢ause to believe that in any material respect the requirements to keep accounting Itcords in accordan¢¢ with s.130 of the Charities Aet 201 I.. and to prepare acLounts which accoid with the accounting records and to comply with ihe ac¢ounting requirements of the 2011 Act have not been met; or 2. To which. in my opinion, attention should be drawn in order to enabl¢ a proper undersianding of the accounts to be reached. R J Beresford Charles Lovell & Co Association of Chanered Certified Accollntsnts Chart¢red Certified Accountants Registered Auditors 8 Church Green East Redditcl? Worcestershire Date- 17ih October 2024 B98 8BP Page 4
WHITEGATES CHILDREN'S TRUST STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED STH APRIL 2024 Note Unrestricted Funds year ended 05.04.23 year ended 05.04.24 Incoming resourees In¢oniirtgie5011rcesfi-OFh geiieruledfiinds.. Investtnent income Interest Tweivable Investment income receivable 48 56,063 58,804 Total Ineomlng resources 58,812 Resources expended Chai'iiable liVi11e.%.' Costs of aciivitieg in furtherance of the charity's objects.. Mallagement & administration - Grants 1,645 27,000 36,250 Total re$ource$ expended 37,761 28,645 Net In¢ome l (E%pendiluYe) for the year 18.350 30.167 Oth¢r recognis¢d (los$e8llg4ins Gains und Ios.SES inveslJKenl assels -IReduction) I gain in market valu¢ of Enveslments as at 5th April 2024 Net movement In funds (25,404) (7,054) (30,156) Fund balallces brought forward at 6th April 2023 1,752.855 1.752,844 Fund balanees ethrritd forward At 5th April 2024 ,745,801 1.752.855 All gains and losse5 recogni5ed in th¢ p¢riod are ijicluded above. Page S
WHITEGATE EN'S TRUST BALANCE SHEET T 5TH APRIL 2024 05.04.24 05.04.23 Note Fixed asset$ Investments 1,433J21 1,458,725 Current assets Cash at bank & in hand 315.120 296,770 Current liabtlities Creditors {amount5 falling due within one yeaTI 2.640 2,640 Total assets les5 eurrent 119bilitie$ 312,480 294,130 Net assels 1,745,801 1,7.f2,855 Fund5 Unrestritted income fuiids Accumulaied fund 1,745,801 1,752,855 Approved by the tru5tee5 on 17th O¢tober 2024 and signed on their beh21f by'.- D A Wootten- Trustee Page 6
WHITEGATES CHILDREN'S TRUST NOTES TO THF. FINANCIAL STATF.MENTS FOR THE YEAR ENDED 5TH APRIL2024 I. ACCOUNTING I)OLICIES (8)B8sT$ of prepar4tlon The financial statements of the Gharity, whicli is a public benefit entity under FRS 102. have been pr¢pared in a¢coi'dance with the Charities SORP {FRS 1021 'Accounting and Reporting by ChAI'itÈes.' Statement of Recommollded Practice applicable to charitics prepartng their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of IT¢land IFRS 102) l¢ffeciive l January),. Financial Reportin¥ Standard 102 'The Financial Reporting Standard 8pplicable in the IJK and RepL5blic of Ireland, and the Charities Act 2011. The finan¢ial $tal¢ments have been pj'epared under the historical cost convention with the exception of investments which are included ai market value. (b) Fund accounting Genejxl funds ar¢ unrestricted funds which are available for use at the discretion of the trustees in furtheT2nce of the general objeciives of the charty and which have not been designated for other purposes. Restricted funds are funds which are to b¢ used in accordance with the specifje restrictions imposed by donoTS or which have been rassed by th¢ ¢haTity for particular purposes. The charity did not hold any restrieted funds during the year. {elDongtion$ Donations are crediied to ineome and expenditure accounts in the year in which th¢y are weiyed. (d)Capit81 grants and legaeles Capital grants and legacies receiv¢d ar¢ credited to the income and expenditure acwunt in the year in which they air re¢eived. {tl Ghin51{10sse5) on inVestmets Gainsl{losses) on inv¢stmenis are credited/(charged) to the SOFA in the period to which they relate. 2. TOTAL RESOURCES EXPENDED 05.04.24 05.04.23 Costs of ch%ritable 4¢tivities {a) Care of ¢hildren'. Grants made 36.250 27,000 (bl Management & administrdtion: Bank & PTofesssonal Charges Office expenses 1,376 135 1,645 1,645 TOTAL EXPENDITURE 37,761 28.645 3. STAFF COSTS No trustee of Whitegates Children's Trust Te¢eived any emoluments duting the year12023.. £Nil). The trustees neither received nor waived any emoluments during the year (2023.. £Nill and no out of pocket expenses weTe reimbursed. Page 7
WHITEGATES CHILDRFN'S TRUST NOTES TO THE FINANCIAL STATEMENTS RTHEY AR ENDED 5TH APRIL 2023 4. FIXED ASSET INVESTMENTS 05.04.24 05.04.23 Market value at 6th April 2023 Net Ireductsonl l gain on revaluation at 5th April 2024 Capital ietuimed 1.458,725 {25,404) ,488,881 130,1561 Market value at 5th April 2024 1,433,321 1,4S8,725 Cost at 5th April 2024 762,907 762.907 S. CREDITORS {AMOUNTS FALLING DUE WITHIN ONE YEAR) 05.04.24 05.04.23 Accruals & deferred income 2,640 2,640 6. ACCUMULATED FUND 05.04.24 05.04.23 Balance at 6th April 2023 SuTpIu5 1 (Defkcitl for the year Net unrealised (losses) I gains 1,752.855 18,350 {25,404) 1.752.844 30,167 (30,156) Balance at 5th April 2024 1,745,801 1,752,855 Page 8
WHITEGATES CHILDREN'STRUST PERATING ACCOUNT FOR THE YEAR ENDED 5TH APRIL2024 year ended year ended 05.04.23 05.04.24 INCOME Interest receivable Investment income receivable 48 56.063 58,804 58,812 DEDUCT: OVERHEADS Grants made.. BirmEngham Boys, & Girls, Union Be Free Childhood First Christadelphian Meal A- Day Fund Dodford Childi'erh's Holiday Farm Deaf World Eve Brook Scholarship Fund Entrust Hothouse Lucy Faithful Foundation NICE The Christine Witcutt Memorial Fund Ukraine Donation Welcome Weston Turville Wells for Tanzanta Zone Youth 6.000 2.000 4,000 2,000 750 1.250 4.000 1,500 1,000 1,500 2,000 8,000 5,000 5,000 2,000 2,000 7,000 8,000 250 36,250 27.000 Independent Exaininer's Fe¢s Bank & professional charges Office expense5 1,320 56 135 1.320 325 37.761 28,645 IDEFICIT)ISURPLUS FOR THE YEAR 18.350 30,167 Page 9