2023-04-05-accounts

REGISTERED CHARITY NUMBER: 262524

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 5 April 2023

for

Four Winds Trust

PPS Chartered Accountants

29 Devizes Road Swindon Wiltshire SN1 4BG

Four Winds Trust

Contents of the Financial Statements for the Year Ended 5 April 2023

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	8
Detailed Statement of Financial Activities	9	to	10

Four Winds Trust

Report of the Trustees for the Year Ended 5 April 2023

The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Charity was formed by Trust Deed on 3 May 1971 to support financially the furtherance of Christian work in the UK and overseas. It will also benefit, where thought fit, secular organisations, secular education and the relief of the poor and needy. Details of professional advisers are shown at the end of this report.

FINANCIAL REVIEW

Financial position

During the year investment income totalled £33,890 (2022 £27,192) and payments for charitable purposes totalled £26,720 (2022 £26,745). Donations received totalled £900 (2022 £900) and gift aid received totalled £508 (2022 £Nil). Payments for administration and costs relating to investments were £10,528 (2022 £10,276) and independent examiners charges totalled £1,099 (2022 £759). Sale of investments realised £57,732 (2022 £163,759) and purchase of investments cost £24,129 (2022 £145,075). The investments, which are held for the long term, are shown at published market value. The stock market has shown a decrease in share prices, with investments at the date of these financial statements having fallen to £851,437 from £990,612 at the end of the previous year.

The investments are managed by investment managers. The trustees consider that the only significant risk to the charity to meet its objects in future, is a significant reduction in investment income. They consider that this is highly unlikely as the Trust has appointed expert investment managers. The charity has continued to give support to many institutions and individuals in furtherance of its objects. The trustees plan the amount of support in line with the assessment of needs and available funds. The funds held are adequate to meet the ongoing needs of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

262524

Principal address 64 Station Road Drayton Portsmouth PO6 1PJ

Trustees

P J Charters S V Charters F M Charters S R Charters

Independent Examiner

Roger C Bloomer, FCA PPS Chartered Accountants 29 Devizes Road Swindon Wiltshire SN1 4BG

Page 1

Four Winds Trust

Report of the Trustees for the Year Ended 5 April 2023

Approved by order of the board of trustees on 20 November 2023 and signed on its behalf by:

S V Charters - Trustee

Page 2

Independent Examiner's Report to the Trustees of Four Winds Trust

Independent examiner's report to the trustees of Four Winds Trust

I report to the charity trustees on my examination of the accounts of Four Winds Trust (the Trust) for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

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.

Roger C Bloomer, FCA

PPS Chartered Accountants 29 Devizes Road Swindon Wiltshire SN1 4BG

20 November 2023

Page 3

Four Winds Trust

Statement of Financial Activities for the Year Ended 5 April 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Other income Total EXPENDITURE ON Raising funds Other trading activities Investment management costs 3 Charitable activities Donations Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	5.4.23 Unrestricted fund £ 900 33,890 58,240 93,030 1,099 10,528 11,627 26,720 24,129 62,476 (50,590) (20,036) 1,220,093 1,200,057	5.4.22 Total funds £ 900 27,192 163,759 191,851 759 10,276 11,035 26,745 145,075 182,855 8,293 17,289 1,202,804 1,220,093

The notes form part of these financial statements

Page 4

Four Winds Trust

Balance Sheet

5 April 2023

Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS	5.4.23 Unrestricted fund £ 275,000 851,437 1,126,437 77,127 (3,507) 73,620 1,200,057 1,200,057 1,200,057 1,200,057	5.4.22 Total funds £ 186,415 990,612 1,177,027 45,525 (2,459) 43,066 1,220,093 1,220,093 1,220,093 1,220,093

The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2023 and were signed on its behalf by:

S V Charters - Trustee

The notes form part of these financial statements

Page 5

Four Winds Trust

Notes to the Financial Statements for the Year Ended 5 April 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

2. INVESTMENT INCOME

Rents received Dividends etc. Deposit account interest INVESTMENT MANAGEMENT COSTS Portfolio management Cottage expenses	5.4.23 £ 1,740 32,101 49 33,890 5.4.23 £ 9,938 590 10,528	5.4.22 £ 1,885 25,306 1 27,192 5.4.22 £ 9,507 769 10,276

3. INVESTMENT MANAGEMENT COSTS

continued...

Page 6

Four Winds Trust

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.

5. TANGIBLE FIXED ASSETS

COST OR VALUATION At 6 April 2022 Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 Cost or valuation at 5 April 2023 is represented by: Valuation in 2007 Valuation in 2023 Cost	Freehold property £ 186,415 88,585 275,000 275,000 186,415 Freehold property £ 151,415 88,585 35,000 275,000

Property, which comprises a cottage, Kings Close East, Ashbury, Swindon, Wiltshire, was originally inherited at a probate value of £35,000. It is included in the Statement of assets and liabilities at an informal market value in 2022 of £275,000 as it is not practicable to obtain an annual professional valuation on grounds of costs. The property is kept in good condition.

continued...

Page 7

Four Winds Trust

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

6. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
		Unlisted
		investments
		£
MARKET VALUE
At 6 April 2022		990,612
Revaluations		(139,175)
At 5 April 2023		851,437
NET BOOK VALUE
At 5 April 2023		851,437
At 5 April 2022		990,612
There were no investment assets outside the UK.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors	5.4.23 £ 3,507	5.4.22 £ 2,459

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

8. RELATED PARTY DISCLOSURES

In the interests of transparency the Trustees wish to declare the following gifts:

Simon and Frances Charters

Gifts to South Road Church totalling £2,650. Simon and Frances are regular attenders at South Road Church.

Peter-John and Sue Charters

Gifts to Zion United Church totalling £1,000. Peter-John and Sue are regular attenders at Zion United Church

Page 8