INGLES CHARITABLE TRUST Trustee< Annual Report for the year ended 5 April 2024
INGiES CHARITABLE TRusr REGISTERED NUMBER 265283 TRUSTEES, ANNUAL REPORT- YEAR ENDED 5- APRIL 2024 coENTs Page I Structure, Governance and Management Page 2 Chairman's Report Page 3 Financial Review Page 4 Independent Examinerfs Report Page 5 Income Account Page 6 Balance Sheet
INGLES CHARITABLE TRusr REGISTERED NUMBER 265283 srRUCTURE, GOVERNANCE AND MANAGEMENT The Trust was created by a deed dated 21" December 1972 with the settlors being J L Ingles and Mrs J H Ingles. Each settlor initially transferred £l(KJ to the trust with further assets being transferred shortly thereafter. The Trust is governed by a board of trustees consisting of the children of the settlors and friends and colleagues of the Ingles family. The board currently numbers seven trustees. The trust policy is to invest for long temi growth and to distribute the annual income to charitable causes. DistribL¢tions are usually made to less well known charities and those organisations that exist for the benefit of disadvantaged children and young people.
INGLES CHARITABLE TRUST REGisfERED NUMBER 265283 CHAIRMAN'S REPORT The Trust wa5 founded in 1972 by my parents Jim and June Ingles with an objectwe of helping disabled and disadvantaged children. Rather than supporting V11-knOWn, national charities. we typically help smaller and lesser known charities. but they vary considerably in size and type of requirements. Most of the chartties that we support we have a longstanding relationship with, and indeed we Continue to support several that received monies back in the 7(Ys and 8(Ys. l am happy to report that distributions of income to worthy causes during the year were £54,840. R J Ingle5
INGLES CHARITABLE TRusr REGISTERED NUMBER 265283 FINANCIAL REVIEW During the year the trustees continued with their wlicy of investing for long temi growth while generating income for distribution to worthy causes. Funds are largely invested in stocks and shares but this has been done using a variety of investment advisers and with exposure to stock markets worldwide so as to mitigate the risk. The trustees are satisFied that the current investment portfolio meets their objectives. The year ended S April 2024 saw net income of £53.526, an increase of6% compared tothe previous year. The value of the capital fund increased by 7.5% which was slightly ahead of the performance of the benchmark indices.
INGLES CHARITABLE TRu¥r REGISTERED NUMBER 265283 INDEPENDENT EXAMINEIYS REPORT I report to the trustees on my independent examination of the accounts of the above charity 1.the Trusy'l for the year ended 5, April 2024. Responsibilities and basis of report As the charity twstees of the Trust you are responsible ft)r the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the ACVI. I report in respett of my examination of the Trusvs accounts carried out under sectiori 145 of the 2011 Att and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Att. Independent examinerfs statement I have completed my examination. I confirm that no material matters have tome to my attention in connection with the examination giving me cause to believe that in any material respect.. l. Accounting records were not kept in respert of the Trust as required by section 130 of the Act: or 2. The accounts do not comply with those records; or 3. the accounts do not tomply with the applicable requirement conceming the form and content of the accounts set out in the Charities (Accounts and Reportsl 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. Signed= Name: D P Miller Relevant Professional Body: ICAEW Address: 18 Merlin Way Mickleover Derby DE3 OSL Date= qIILI
INGLES CHARABLE TRUST REGISTERED NUMBER 265283 INCOME ACCOUNT Year ended 5 Aprll 2024 2024 2023 Gift Aid Donations other Income 973 477 Investment Income 48.301 46,032 Interest Re¢eNed 308 499 IncoTne from Propety 6,199 6,301 55,781 53.309 Less ". Administration Expenses 2,255 2,826 53,526 50,483 Distributions during the year 54,840 52,550 {Shortfalll l Excess of Incorne over Distributions for the year {1.3141 I2,(7> Undistributed Income at 6 April 2023 9,227 11,294 Undistributed Income at 5 April 2024 £7.913 £9.227
INGLES CHARITABLE TRUST REGISTERED NUMBER 265283 BALANCE SHEET At S April 2024 2024 2023 Lisled Investments 1,558,030 1,438.995 Investment Property 77.000 77,000 1.635.030 1,515,995 Sundry Debtors 3,519 4,033 Cash al bank 87.746 87,833 1,726,295 1.607,861 Creditors £1.726.295 £1,607,861 Capital Account At 6 April 2023 1,165.735 1.153,520 Profft I (Lossl on sales, et¢ of Invesbnents Capital donations {19.2291 12,215 1.146,506 1,165.735 Revaluation Resor4e 571,876 432,899 1,718,382 1,598,634 Incoma Account 7,913 9,227 £1.726.295 £1.607.861