REGISTERED CHARITY NUMBER: 265654 Report of the Tru$tee5 Vlnd Unaudited Finaneial S¢itemenls for the Y¢*r Ended 5 April 2024 ror THE JAMES BEAThIE CHARITABLE TRusr Lan¢a5ter Haskins Limited Granville House 2 Tettenhall Road Wolv¢rhampton West Midlands WVI 4SB
THE JAMES BEAlE CHARrrABLE TRUST Contents of tbe FÉnaneiAI Statemtntg for the Year End¢d S Aprll 2024 P8gt Report of the Ttte3 IDdep¢ndent Ex*miner's Report Statement of Finanei¥l Activities Balgllct Sheet Notes ¢0 the Finxnchal Ststemettts 7 11 Detaikd Statement of FSngnclAI AethtIeS 12
THE JAMES BEAllE CHARITABLE TRusr Report of the Tru$tee9 for the Year Ended 5 April 2024 The Trusl¢¢s submit their annual reTM)rt and the financial statements for the year ended 5 April 2024. The Truskes have adopt¢d the provisions of A¢wun¢iDg and R¢porting by Chariti¢s'. Statement of Recommended Practice appli¢abl¢ to ¢harities preparing their a¢¢OntS in accordance with the Financial Rewrtitjg Standard applicable in the UK And Republic of Ireland (FRS 102) (Efftctive l January 2015) TRUST The full nam¢ of thr Charity 15 The Jam¢5 Beattie Charitable Trust and its Registration Number is 265654. On the 18th February 1972, James Beattie gifted by deed of settlement 5,000 25p 'A' Ordinary (R¢5triGt¢d Voting) Shar¢s in James Beattie Ltd (Value £7.500) to th¢ P¢rton Charitable TNst for charitable purrx>ses. James Beattie died on 17th August 1988 bequ¢stin& subje¢t to a life tenancy to his widow, 20% of the residue of his Estate to the Trust. Mrs. Beatti¢ di¢d on 2nd June 1993 and the Trust inherii¢d £2.1 Million. Following th¢ death of Mrs. B¢atti¢ th¢ TrLLSt kn been renamed the James Betie Charitsble Trnst. The Trustees. hav¢ the righi to distribute ¢apital and in¢ome at their full discretion to any charitsble institution5 or for chaTitabl¢ purpos. OBJEcfivES AND ACTIVITIES Objettlves and alms Mclnroy & Wood a¢t as investment managers the Charity. The policy of the TnJst¢e$ is to invest the majority of its resources with Mclnroy & Wood whos¢ instructions arc to maintain a conservative portfolio weighted towards capital 8rowth but realising sufficient income to enible the tn]st¢e5 dOtiOnS lIcY to be maintained. In planiThg our activiti¢s for the year due regard was given to the guidan¢e publish¢d by the charities commission on publi¢ benefi¢. Although Iht Trust Deed places no restrictions on the distribution of the ineome, Mr Beattie in a non-binding comment in hi5 will expTC55ed the wish that the income be largcly. but noi wholly, applied ftr th¢ b¢nefit of those WIK) live in the Wolvethampton ar¢a, wh¢r¢ h¢ gr¢#tiy et)joyed his life and had the privilege of playing a part in its aff8ir5. Publie beneflt The Trustees have paid due regard to th¢ guidon¢¢ issued by the Charity Commi5SLon on the subject of public beneflt and consider that activities. aims and strategies ar¢ for the public benefjt. Activitie5 focus on providiftg gr&nts ¢0 other ¢haTitabl¢ institutions and benefits are to the public, as the ben¢fi¢iari¢s of the iDStitutions. Speei41 R¢slri¢tion5 The Trtl Deed imposes no speeific restrictions on the way in whrch the Gharity Gan operate. Grintmakin The fund makes large numbers of small donations to help and support Communities primarily in lotiOnS where it operates. Particular empha5i5 is given to assist individuals and organi5ations in fvndrnising effo to meet th¢ abov¢ obje¢tiV¢5. ACIIIEVEMENT AND PERFORMANCE ChBrit*ble attivities In the y¢ar 46 Donatiorts {2023 .' 49) varying b¢twe¢n £22Q and £20.000 and totalling £69,674 (2023 . £107.818) were larg¢ly made to locsl Gharities or lo¢al brall¢h¢s of national elwities. FITrIANCIAL REVIEW FiDancial Reviéw The Statement of Firt8m¢i A¢iivities for the year is set out on page 5 of the financial statements. Funding is achieved thn)ugh th¢ investment rtfOlIo. It is in th¢ Trnstee's intention to Continue with both its itiv¢stment aad distribution polÉ¢ies. Page I
THE JAMES BEATTIE CHARITABLE TRUST Report of the Tntstee5 for the Year Ended 5 Aprll 1024 FTNAf4CIAL REVIEW Investm¢nt polity and objeetlves The ¢apitsl of the ¢harity is inv¢sted by A r¢putable $tkbrokeT to pr()duce income and reasonable capitsl gmwth in the lottg t¢mi. The ttV$tees are sarisfied that th¢ investment p¢rforn)an¢¢ in the yeor is on course with thi5 pDIi¢y. Reserves policy The unreslricted funds are held in a general r¢servc to g¢nerate invtstsnent income And capital gr0b to $at15fy the Truste¢s investment poli¢y. FUTURE PLANS It is th¢ intentiort of th¢ Trustees io donate all it5 in¢ome bui not necessarily on an exact year by year b0518. STRucfuRE. GOVERNANCE AND MANAGEMENT GowerniDg doeument The charity is controlled by it5 gOV¢rnln8 documeni. a deed of tnt aThd ConstiteS an unincorporated charity. Risk martagement The Trustees maintain a policy of continuous review of ih¢ major risks lo which the charity is expos. Sy$tem5 aTe in place to miiigate our ¢xposure to the major risk5. RKFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Thumbtr 265654 Prineipgl gddress P.0 Box 12 Bridgnonh Shrop5hire WV15 5LQ Trn5tee5 Mrs J V Redshaw M W Redshaw K C Dolman NIrs S J Norbury M C Boy¢e S R Archer IndepeDdettt Examlner Mark Ashton FCA FCCA Latlcaster Haskirts Limited Granville House 2 T¢tt¢nhall Road Wolv¢rhampton West Midlands WVI 4SB Solicitors Underhill Lwgley & Wright 7 Waterloo Ro8d Wolverhampton West Midlands WVI 4DW Page 2
THE JAMES BEATTIE CHARtTABLE TRUST Report of the Trys¢tts for ¢he Yer Ended 5 Aprll 2024 REFERENCE AND ADMINISTRATIVE DETAIIS Advisers MclnTOy & Wood E&%ter Aldersion Haddington E&st Lothian EH413SF Apprnved by order of the Ixard of Iee5 on.............. . ..l..i.l.Ls............ and signed on rts b¢ha]f by.. shaw- Tn]stee Page 3
Independent Examiner'5 R¢port to th¢Trn5tees of Th¢ James Beattie Charit4ble Trust Independent exaltr,8 report to the trustees ofThe James BÈattie Charitable Trnst I report to the charity tn]st¢es on my examination of the accouttts of The James Beattic ChaTitable Trust {tlic Trust} for the year¢nded 5 April 2024. Respon$lbiiitie5 and bA8is of report As the charity trnste¢s of the Trnst you ar¢ r¢sponsible for the pr¢p8Yation of th¢ accounts in accordance with the r¢quirements of the ChaTities Act 201 I {%h¢ A¢¢'). I report in respect of my exgmination of the Trllsfs a¢wunts ¢arried out wider Section 145 of the A¢t in carrying ut Y examination I have followed 811 applicable Directions given by the Charity Commissiort under Section 145(5Xb} ofthe Act. Independent exAminer'$ stgtetThent I have completed my examittation. I confirni that no material matt¢rs have come to my attention in connection with the ¢xamination giving me caus¢ to believe that in any mat¢rial respect.. aountIng Tecords were not kept in respectof the T]ust &8 required by Se¢tion 130 of th¢ Act; or the accounts do Tr)t a¢¢ord with those records,. or the accouDts do not Comply with the applicable requirements ¢on¢¢rnin8 the form and corttent of accounts set out in the Charities (A¢¢ounts and Reports) RegulatlODS 2008 oth¢r than any requirement that the awounts give a true and fair view whi¢h is not a matt¢r considtred as part of an jThj¢p¢Jent examinatiort. I have no wncems and have come aeross no othei matters in conrtection with the exomination trj which attention should be dr&wn in this report in order to enabl¢ a proper understanding of th¢ a¢wunts to be reaelLed. Mark Ashton FCA FCCA The Instltute of Chartered Accountants ill England and Wal¢5 L4ncasler Haskins Limited Granville House 2 T¢ttenhall Road Wolv¢rhampton West Midlands WVI 4SB Date.. 151i/do& Page 4
THE JAMES BEAlE CHARITABLE TRusr Slatsment of Financial Activiti for the Year Ended 5 April 21124 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes INCOME AND ENDOWMENTS FROM tnvesttnent incom¢ EXPENDrruRE ON Charitable Activiti¢x Ilonations Made A¢¢ountancy Managemertt Adminstration of the Charity 69,674 3.155 27.726 107.818 2,865 Tot41 100555 141451 Net gainslllo$ses) on investments 121,772 369 909) NET INCOMEI(EXPENDITURE) 107,733 {422,oon RECONCILIATION OF FUNDS Total hjnds brought forward 4,109,192 4,531,199 TOTAL FUNDS CARIUED FORWARD 4216925 4 109,192 Th¢ Thot¢s fonn part of these financial stslements Pag¢ 5
THE JAMES BEAlE CHAIUTABLE TRUST Bal4n¢e Sheet 5 Aprll 2024 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes FIXED ASSETS Investments 4.058 J20 3,982,396 CURREKf ASSETS Cash at bank 162J91 130,234 CREDITORS Amoutkts falling du¢ withitt one y¢ar (3,786) (3,438) NET CURRErrr ETs 126796 TOTAL ASSETS LFSS CURRENr LIABILITIES 4,216,925 4,109,192 NET ASSETS 4 216925 4 109 192 FUNDS Uj$tricted funds 4 216.925 4 109 192 TOTAL FUNDS 4.216.925 4.109.192 Th¢ fancial statements were approved by th¢ Board of Trustees and authorised for issu¢ on . and w¢tE signed ort its b¢haif by.. M W Rcdshaw- Truste¢ The notes forni Plrt of these finan¢ial ststements Page 6
THE JAMES BEAllE CHARITABLE TRUST Note5 to th¢ Finan¢ig1 Statements for the Yer Ended 5 April 2024 COMPANY JNFORMATION The James Beattie Charitabl¢ Trust is a charity, registered in England and Walts. The Company's Chartiy registration number and registered offjce address can be found on the Company lThfomiation pag¢. ACCOUNTING POLICIES Basis of prepxring the fin8neial st8tements These Financial Stat¢ments for the year ended 5 April 2024 Comply with FRS 102. There were no material depariure5 from that 5tandaTd. The presentation ¢urrency is £ sterling. Finlnelal reporting gtsndrd 102- rtdueed disclosure exemptions The charity has taken advantage of the following disc105ure exemptions in preparing thes¢ financi statement5. as pemiitted bv FRS 102'The Financia] Reporting Standard applicable in the UK and Republic of Ireland,: the requirrments of Se¢tiOTL 7 Statement of Cash Flows. the requirement of pardgraph 33.7. Crftlcal itt(truntlng jlldgemtnts key source5 of estimation ullcertalnty The preparation of the financial siatements r¢quir¢5 th¢ management to make judgements. estimates and assutnption5 thai affect the amounts reported.These estimr4tes and judgemenis are ¢ontinually review and ar¢ based on experience and other factor5. including exp¢rtstion5 of futurt events that are believed to be reosonable und¢r the ¢ircumslances. Income All in¢om¢ is r¢cogntsed in the Statement of Finan¢ia] Activities once the ¢harity ha8 ¢ntitlement to thc fund4 It 1$ probabl¢ that th¢ illcome will be received and the amount can be m¢asurtd rrliably. ExpeDditure Liabilities are recognis¢d as expendimre as soon as there is a legal or constructive obligation committing the harity to that expenditure. Lt i5 probablt that a ttansf¢r of e¢onomi¢ benefits will be required in settlem¢nt and rh¢ amount of th¢ obligation Can be measure4J reliably. Expenditure is accounted for on an accrua15 basis and has been c1&8sified under headkn85 that aggregate all ¢os¢ relat¢d to the category. Wherc costs cannot b¢ diTertty attnbuted to particular headin8s they have becn allocated to activities on a basis consistent with the use of resources. Gronts offered subject to conditions which have not b¢en m¢t at th¢ year ¢nd date are noted as a commitment but not o¢w¢d as expenditure. Tai#tion The chariry is exernpt from taxon its charitable activiti¢s. FNDd 8ecounting Unrestri¢t¢d funds can be u5¢d in awordance with the charitable objccttves at the dis¢r¢tion of the trustees. Resthcted fvnds can onty be used for particular r¢stTiCted purp05e5 within the obj¢¢ts of the charity. Restrictions aris¢ wh¢n sp¢cified by the donor or when funds are raised for particular restti¢*d purpose Further explanatiort of th¢ natur¢ and purpose of each fund is in¢lud¢d in th¢ notes tt> the finan¢ial statements. Page 7 continued...
I'HE JAMES BEATTIE CHARITABLE TRUST Notes to the Fin8litlal St&tetnents- conlit)ued for the Ye*r Eod•d S April 2024 ACCOUNTING POLICIES- contirtued For¢i¥n currellcies Assets and liabilities in foreign curr¢ncie5 are translated into sterling at the rates of exch&ng¢ ruling at the balance she¢t date. Transactions in foreign currencies are translated into Sterling ai the Tate of exchange rulittg at the date of trgn5action. Exchange differences are tsken into Account in arriving at the op¢rdting r¢sulÈ. Investment property Jnvestments ar¢ staled at market vatue al the balance sheet date. The SOFA includes tb¢ n¢t gains and losses arising on r¢valuation5 and disposa15 thioughout the year. INVESTMENT INCOME 5.4.24 5.4.23 Property Inwme Distribution Dividends receivable from equity shares and unit trusts tnterest R¢¢eivable from fixed inter¢st securities Bank atld Unit TNst Interest Received 2.348 34,309 330 49.529 10,466 68,407 36 10.444 CHARITABLE AcTIVlEs COSIS Grant fijnding of a¢tivities Direct Costs Totals IknThations Made Accountartcy Management and AdTninstralion of the Charity 69.674 69,674 3,155 3.155 27.726 100.555 TRUSTEES, REMUNERATION AND BENEFITS Th¢re were llD tnte¢s, remuneration or other b¢nefits for th¢ year ended 5th April 2024 nor foT th¢ y¢or ended 5th April 2023. Tru5tees' eIpense5 There were no trustees, expenses ld for th¢ y¢ar ¢nded S April 2024 nor for the year end¢il 5 April 2023. Page 8
THE JAMES BEAllE CIIARtTABLE TRUST Not¢5 to the Fln*nclal Statements- CoDtiD¢d for the Year Ended S April 2024 COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES No comparative thoie is shown b¢¢aus¢ Total Funds ar¢ JI Unrestrirted FulS. FIXED ASSET INVESTMENTS Fixed Asset Tnvestments MARKET VALUE AI 6 ApTiI 2023 Additions Disposa15 Revaluations 3,9S2.396 4,135,732 (4.181.580) 121772 At 5 April 2024 4 058 320 NET BOOK VALUE At 5 April 2024 4 058 320 At S April 2023 3 982 396 AllYs1s of Investments Held.. 5.4.24 5.4.23 Fixed intere51 and index linked United Kingdom R¢st of the World Other Invesljnet 3.375,844 269,017 413,459 559,158 1.006,441 1.638,637 778 160 4 058 320 Fixcd asset investmcnts ar¢ sta¢¢d at market Value. Pag¢ 9 continued..
TEIE JAMES BEATTIE CHARrrABLE TRusr Notes to the FiDatteial Ststement$- eoMtlnu¢d for the Year Ended 5 Apiil 21124 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 5.4.24 5.423 Other creditors MOVEMENT IN FUIYDS Net movement ITh funds Ai 5.4.24 At 6.4.23 Unrestricted General nd 4,109,192 107.733 4,216,925 TOTAL FUNDS 107,733 4,216.925 Net movement in funds, included in the atK>v¢ are a5 follows= In¢ominK resouwes R¢sourc¢5 expended Gains and losses MovemeTrt in funds UTrre5tricted fuDds G¢n¢rdl fund 86.516 (100 J55) 121,772 107.733 TOTAI. VUTIDS 100,555) 121.772 107,733 CompHrative5 for mov¢ment in fvttds Net mov¢ment in funds At 5.4.23 At 6.4.22 Unrestricted funds Gcneral fund 4,531,199 (422.007) 4,109,192 TOTAL FUNDS 4531 199 422 0071 4 109.192 Comparativ¢ net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds UDrestrlettd funds Gen¢ral fund 89.353 {141.451) (369,YI9) (422,007) TOTAL FUINDS 1414511 369 909) 422,007) Page 10 ntinued...
THE JAMES BEATTIE CHARITABLE TRusr Noteg to th¢ FinAn¢i*l Ststemtnts- eontlnued for the Ye4r Ended S April 2024 MOVEMEf4T IN FiJNDS- continued A current ye&r 12 months 8nd Prior year 12 months ¢ombirted position is as follows: Net movemetrt in funds At 5.4.24 At 6.4.22 Unrestricted funds G¢n¢ral thnd 4,531.199 {3142741 4.216,925 TOTAL FUNDS 314 4531199 LL741 4 216 925 A current Ye 12 months and prior year 12 months Combin net moY¢ment in funds, included in th¢ above are as follows: In¢omin8 resour¢es Resources expended Gains and k)s5e5 lovement in funds Unrestricted fullds G¢neral fund 175,869 1242,006) {248,1371 (314.274) TOTAL FUNDS 175 869 248 l37) 314.274) io. RKLATKD PARTY DISCLOSURES There were no related paity transactions for the year ended 5 April 2024. ULTIMATE CO]YTROLLINC PARTY The Ultimate controllin8 party of the ¢harity is the tnJstee5. Page 11
THE JAMES BEAThIE CHARITABLE TRUST Detsiled St#tt)Dent of Fln%Dcial A¢tivltie$ for th¢ Year Etsded S April 21124 5.4.24 5.4.23 INCOME AND ENDOWMEIYTS Inve5trntnt income Property Income Distribution Dividends receivabl¢ fmm equity share5 and unil trusts Interest Receivable from fixed interest securiti¢S Bank and Unit Trnst Intercst Re¢eiv¢d 2,348 10,466 34.309 330 68,407 36 Total incoming resollrtes 86,516 89.353 EXPENDTfuRE Ch8rit4ble #ctivitieg Independ¢nt Ex8miners F¢¢ AccountaE)¢y Managemeni and AdministrlOn Donation5 Made 1,155 2,000 27,726 1,100 1,765 30,768 107818 100.555 141451 Total resources expended 100 555 141451 Net exp¢llditUTe before gains nd losses (14.039) (52.098) R¢Alistd re¢ogDiSed g4ln8 nd Ios5e$ Rea]ised Gains Change in Market Value of Investment 735,012 613 240) 43,12 413 1011 Net iDeom¢l{¢xpenditure) 107 733 422 007) This page not fonn of the s¢atu¢ory fmallcial statements Page 12
REGISTERED CHARITY NUMBER: 265654 Report of the Tru$tee5 Vlnd Unaudited Finaneial S¢itemenls for the Y¢*r Ended 5 April 2024 ror THE JAMES BEAThIE CHARITABLE TRusr Lan¢a5ter Haskins Limited Granville House 2 Tettenhall Road Wolv¢rhampton West Midlands WVI 4SB
THE JAMES BEAlE CHARrrABLE TRUST Contents of tbe FÉnaneiAI Statemtntg for the Year End¢d S Aprll 2024 P8gt Report of the Ttte3 IDdep¢ndent Ex*miner's Report Statement of Finanei¥l Activities Balgllct Sheet Notes ¢0 the Finxnchal Ststemettts 7 11 Detaikd Statement of FSngnclAI AethtIeS 12
THE JAMES BEAllE CHARITABLE TRusr Report of the Tru$tee9 for the Year Ended 5 April 2024 The Trusl¢¢s submit their annual reTM)rt and the financial statements for the year ended 5 April 2024. The Truskes have adopt¢d the provisions of A¢wun¢iDg and R¢porting by Chariti¢s'. Statement of Recommended Practice appli¢abl¢ to ¢harities preparing their a¢¢OntS in accordance with the Financial Rewrtitjg Standard applicable in the UK And Republic of Ireland (FRS 102) (Efftctive l January 2015) TRUST The full nam¢ of thr Charity 15 The Jam¢5 Beattie Charitable Trust and its Registration Number is 265654. On the 18th February 1972, James Beattie gifted by deed of settlement 5,000 25p 'A' Ordinary (R¢5triGt¢d Voting) Shar¢s in James Beattie Ltd (Value £7.500) to th¢ P¢rton Charitable TNst for charitable purrx>ses. James Beattie died on 17th August 1988 bequ¢stin& subje¢t to a life tenancy to his widow, 20% of the residue of his Estate to the Trust. Mrs. Beatti¢ di¢d on 2nd June 1993 and the Trust inherii¢d £2.1 Million. Following th¢ death of Mrs. B¢atti¢ th¢ TrLLSt kn been renamed the James Betie Charitsble Trnst. The Trustees. hav¢ the righi to distribute ¢apital and in¢ome at their full discretion to any charitsble institution5 or for chaTitabl¢ purpos. OBJEcfivES AND ACTIVITIES Objettlves and alms Mclnroy & Wood a¢t as investment managers the Charity. The policy of the TnJst¢e$ is to invest the majority of its resources with Mclnroy & Wood whos¢ instructions arc to maintain a conservative portfolio weighted towards capital 8rowth but realising sufficient income to enible the tn]st¢e5 dOtiOnS lIcY to be maintained. In planiThg our activiti¢s for the year due regard was given to the guidan¢e publish¢d by the charities commission on publi¢ benefi¢. Although Iht Trust Deed places no restrictions on the distribution of the ineome, Mr Beattie in a non-binding comment in hi5 will expTC55ed the wish that the income be largcly. but noi wholly, applied ftr th¢ b¢nefit of those WIK) live in the Wolvethampton ar¢a, wh¢r¢ h¢ gr¢#tiy et)joyed his life and had the privilege of playing a part in its aff8ir5. Publie beneflt The Trustees have paid due regard to th¢ guidon¢¢ issued by the Charity Commi5SLon on the subject of public beneflt and consider that activities. aims and strategies ar¢ for the public benefjt. Activitie5 focus on providiftg gr&nts ¢0 other ¢haTitabl¢ institutions and benefits are to the public, as the ben¢fi¢iari¢s of the iDStitutions. Speei41 R¢slri¢tion5 The Trtl Deed imposes no speeific restrictions on the way in whrch the Gharity Gan operate. Grintmakin The fund makes large numbers of small donations to help and support Communities primarily in lotiOnS where it operates. Particular empha5i5 is given to assist individuals and organi5ations in fvndrnising effo to meet th¢ abov¢ obje¢tiV¢5. ACIIIEVEMENT AND PERFORMANCE ChBrit*ble attivities In the y¢ar 46 Donatiorts {2023 .' 49) varying b¢twe¢n £22Q and £20.000 and totalling £69,674 (2023 . £107.818) were larg¢ly made to locsl Gharities or lo¢al brall¢h¢s of national elwities. FITrIANCIAL REVIEW FiDancial Reviéw The Statement of Firt8m¢i A¢iivities for the year is set out on page 5 of the financial statements. Funding is achieved thn)ugh th¢ investment rtfOlIo. It is in th¢ Trnstee's intention to Continue with both its itiv¢stment aad distribution polÉ¢ies. Page I
THE JAMES BEATTIE CHARITABLE TRUST Report of the Tntstee5 for the Year Ended 5 Aprll 1024 FTNAf4CIAL REVIEW Investm¢nt polity and objeetlves The ¢apitsl of the ¢harity is inv¢sted by A r¢putable $tkbrokeT to pr()duce income and reasonable capitsl gmwth in the lottg t¢mi. The ttV$tees are sarisfied that th¢ investment p¢rforn)an¢¢ in the yeor is on course with thi5 pDIi¢y. Reserves policy The unreslricted funds are held in a general r¢servc to g¢nerate invtstsnent income And capital gr0b to $at15fy the Truste¢s investment poli¢y. FUTURE PLANS It is th¢ intentiort of th¢ Trustees io donate all it5 in¢ome bui not necessarily on an exact year by year b0518. STRucfuRE. GOVERNANCE AND MANAGEMENT GowerniDg doeument The charity is controlled by it5 gOV¢rnln8 documeni. a deed of tnt aThd ConstiteS an unincorporated charity. Risk martagement The Trustees maintain a policy of continuous review of ih¢ major risks lo which the charity is expos. Sy$tem5 aTe in place to miiigate our ¢xposure to the major risk5. RKFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Thumbtr 265654 Prineipgl gddress P.0 Box 12 Bridgnonh Shrop5hire WV15 5LQ Trn5tee5 Mrs J V Redshaw M W Redshaw K C Dolman NIrs S J Norbury M C Boy¢e S R Archer IndepeDdettt Examlner Mark Ashton FCA FCCA Latlcaster Haskirts Limited Granville House 2 T¢tt¢nhall Road Wolv¢rhampton West Midlands WVI 4SB Solicitors Underhill Lwgley & Wright 7 Waterloo Ro8d Wolverhampton West Midlands WVI 4DW Page 2
THE JAMES BEATTIE CHARtTABLE TRUST Report of the Trys¢tts for ¢he Yer Ended 5 Aprll 2024 REFERENCE AND ADMINISTRATIVE DETAIIS Advisers MclnTOy & Wood E&%ter Aldersion Haddington E&st Lothian EH413SF Apprnved by order of the Ixard of Iee5 on.............. . ..l..i.l.Ls............ and signed on rts b¢ha]f by.. shaw- Tn]stee Page 3
Independent Examiner'5 R¢port to th¢Trn5tees of Th¢ James Beattie Charit4ble Trust Independent exaltr,8 report to the trustees ofThe James BÈattie Charitable Trnst I report to the charity tn]st¢es on my examination of the accouttts of The James Beattic ChaTitable Trust {tlic Trust} for the year¢nded 5 April 2024. Respon$lbiiitie5 and bA8is of report As the charity trnste¢s of the Trnst you ar¢ r¢sponsible for the pr¢p8Yation of th¢ accounts in accordance with the r¢quirements of the ChaTities Act 201 I {%h¢ A¢¢'). I report in respect of my exgmination of the Trllsfs a¢wunts ¢arried out wider Section 145 of the A¢t in carrying ut Y examination I have followed 811 applicable Directions given by the Charity Commissiort under Section 145(5Xb} ofthe Act. Independent exAminer'$ stgtetThent I have completed my examittation. I confirni that no material matt¢rs have come to my attention in connection with the ¢xamination giving me caus¢ to believe that in any mat¢rial respect.. aountIng Tecords were not kept in respectof the T]ust &8 required by Se¢tion 130 of th¢ Act; or the accounts do Tr)t a¢¢ord with those records,. or the accouDts do not Comply with the applicable requirements ¢on¢¢rnin8 the form and corttent of accounts set out in the Charities (A¢¢ounts and Reports) RegulatlODS 2008 oth¢r than any requirement that the awounts give a true and fair view whi¢h is not a matt¢r considtred as part of an jThj¢p¢Jent examinatiort. I have no wncems and have come aeross no othei matters in conrtection with the exomination trj which attention should be dr&wn in this report in order to enabl¢ a proper understanding of th¢ a¢wunts to be reaelLed. Mark Ashton FCA FCCA The Instltute of Chartered Accountants ill England and Wal¢5 L4ncasler Haskins Limited Granville House 2 T¢ttenhall Road Wolv¢rhampton West Midlands WVI 4SB Date.. 151i/do& Page 4
THE JAMES BEAlE CHARITABLE TRusr Slatsment of Financial Activiti for the Year Ended 5 April 21124 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes INCOME AND ENDOWMENTS FROM tnvesttnent incom¢ EXPENDrruRE ON Charitable Activiti¢x Ilonations Made A¢¢ountancy Managemertt Adminstration of the Charity 69,674 3.155 27.726 107.818 2,865 Tot41 100555 141451 Net gainslllo$ses) on investments 121,772 369 909) NET INCOMEI(EXPENDITURE) 107,733 {422,oon RECONCILIATION OF FUNDS Total hjnds brought forward 4,109,192 4,531,199 TOTAL FUNDS CARIUED FORWARD 4216925 4 109,192 Th¢ Thot¢s fonn part of these financial stslements Pag¢ 5
THE JAMES BEAlE CHAIUTABLE TRUST Bal4n¢e Sheet 5 Aprll 2024 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes FIXED ASSETS Investments 4.058 J20 3,982,396 CURREKf ASSETS Cash at bank 162J91 130,234 CREDITORS Amoutkts falling du¢ withitt one y¢ar (3,786) (3,438) NET CURRErrr ETs 126796 TOTAL ASSETS LFSS CURRENr LIABILITIES 4,216,925 4,109,192 NET ASSETS 4 216925 4 109 192 FUNDS Uj$tricted funds 4 216.925 4 109 192 TOTAL FUNDS 4.216.925 4.109.192 Th¢ fancial statements were approved by th¢ Board of Trustees and authorised for issu¢ on . and w¢tE signed ort its b¢haif by.. M W Rcdshaw- Truste¢ The notes forni Plrt of these finan¢ial ststements Page 6
THE JAMES BEAllE CHARITABLE TRUST Note5 to th¢ Finan¢ig1 Statements for the Yer Ended 5 April 2024 COMPANY JNFORMATION The James Beattie Charitabl¢ Trust is a charity, registered in England and Walts. The Company's Chartiy registration number and registered offjce address can be found on the Company lThfomiation pag¢. ACCOUNTING POLICIES Basis of prepxring the fin8neial st8tements These Financial Stat¢ments for the year ended 5 April 2024 Comply with FRS 102. There were no material depariure5 from that 5tandaTd. The presentation ¢urrency is £ sterling. Finlnelal reporting gtsndrd 102- rtdueed disclosure exemptions The charity has taken advantage of the following disc105ure exemptions in preparing thes¢ financi statement5. as pemiitted bv FRS 102'The Financia] Reporting Standard applicable in the UK and Republic of Ireland,: the requirrments of Se¢tiOTL 7 Statement of Cash Flows. the requirement of pardgraph 33.7. Crftlcal itt(truntlng jlldgemtnts key source5 of estimation ullcertalnty The preparation of the financial siatements r¢quir¢5 th¢ management to make judgements. estimates and assutnption5 thai affect the amounts reported.These estimr4tes and judgemenis are ¢ontinually review and ar¢ based on experience and other factor5. including exp¢rtstion5 of futurt events that are believed to be reosonable und¢r the ¢ircumslances. Income All in¢om¢ is r¢cogntsed in the Statement of Finan¢ia] Activities once the ¢harity ha8 ¢ntitlement to thc fund4 It 1$ probabl¢ that th¢ illcome will be received and the amount can be m¢asurtd rrliably. ExpeDditure Liabilities are recognis¢d as expendimre as soon as there is a legal or constructive obligation committing the harity to that expenditure. Lt i5 probablt that a ttansf¢r of e¢onomi¢ benefits will be required in settlem¢nt and rh¢ amount of th¢ obligation Can be measure4J reliably. Expenditure is accounted for on an accrua15 basis and has been c1&8sified under headkn85 that aggregate all ¢os¢ relat¢d to the category. Wherc costs cannot b¢ diTertty attnbuted to particular headin8s they have becn allocated to activities on a basis consistent with the use of resources. Gronts offered subject to conditions which have not b¢en m¢t at th¢ year ¢nd date are noted as a commitment but not o¢w¢d as expenditure. Tai#tion The chariry is exernpt from taxon its charitable activiti¢s. FNDd 8ecounting Unrestri¢t¢d funds can be u5¢d in awordance with the charitable objccttves at the dis¢r¢tion of the trustees. Resthcted fvnds can onty be used for particular r¢stTiCted purp05e5 within the obj¢¢ts of the charity. Restrictions aris¢ wh¢n sp¢cified by the donor or when funds are raised for particular restti¢*d purpose Further explanatiort of th¢ natur¢ and purpose of each fund is in¢lud¢d in th¢ notes tt> the finan¢ial statements. Page 7 continued...
I'HE JAMES BEATTIE CHARITABLE TRUST Notes to the Fin8litlal St&tetnents- conlit)ued for the Ye*r Eod•d S April 2024 ACCOUNTING POLICIES- contirtued For¢i¥n currellcies Assets and liabilities in foreign curr¢ncie5 are translated into sterling at the rates of exch&ng¢ ruling at the balance she¢t date. Transactions in foreign currencies are translated into Sterling ai the Tate of exchange rulittg at the date of trgn5action. Exchange differences are tsken into Account in arriving at the op¢rdting r¢sulÈ. Investment property Jnvestments ar¢ staled at market vatue al the balance sheet date. The SOFA includes tb¢ n¢t gains and losses arising on r¢valuation5 and disposa15 thioughout the year. INVESTMENT INCOME 5.4.24 5.4.23 Property Inwme Distribution Dividends receivable from equity shares and unit trusts tnterest R¢¢eivable from fixed inter¢st securities Bank atld Unit TNst Interest Received 2.348 34,309 330 49.529 10,466 68,407 36 10.444 CHARITABLE AcTIVlEs COSIS Grant fijnding of a¢tivities Direct Costs Totals IknThations Made Accountartcy Management and AdTninstralion of the Charity 69.674 69,674 3,155 3.155 27.726 100.555 TRUSTEES, REMUNERATION AND BENEFITS Th¢re were llD tnte¢s, remuneration or other b¢nefits for th¢ year ended 5th April 2024 nor foT th¢ y¢or ended 5th April 2023. Tru5tees' eIpense5 There were no trustees, expenses ld for th¢ y¢ar ¢nded S April 2024 nor for the year end¢il 5 April 2023. Page 8
THE JAMES BEAllE CIIARtTABLE TRUST Not¢5 to the Fln*nclal Statements- CoDtiD¢d for the Year Ended S April 2024 COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES No comparative thoie is shown b¢¢aus¢ Total Funds ar¢ JI Unrestrirted FulS. FIXED ASSET INVESTMENTS Fixed Asset Tnvestments MARKET VALUE AI 6 ApTiI 2023 Additions Disposa15 Revaluations 3,9S2.396 4,135,732 (4.181.580) 121772 At 5 April 2024 4 058 320 NET BOOK VALUE At 5 April 2024 4 058 320 At S April 2023 3 982 396 AllYs1s of Investments Held.. 5.4.24 5.4.23 Fixed intere51 and index linked United Kingdom R¢st of the World Other Invesljnet 3.375,844 269,017 413,459 559,158 1.006,441 1.638,637 778 160 4 058 320 Fixcd asset investmcnts ar¢ sta¢¢d at market Value. Pag¢ 9 continued..
TEIE JAMES BEATTIE CHARrrABLE TRusr Notes to the FiDatteial Ststement$- eoMtlnu¢d for the Year Ended 5 Apiil 21124 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 5.4.24 5.423 Other creditors MOVEMENT IN FUIYDS Net movement ITh funds Ai 5.4.24 At 6.4.23 Unrestricted General nd 4,109,192 107.733 4,216,925 TOTAL FUNDS 107,733 4,216.925 Net movement in funds, included in the atK>v¢ are a5 follows= In¢ominK resouwes R¢sourc¢5 expended Gains and losses MovemeTrt in funds UTrre5tricted fuDds G¢n¢rdl fund 86.516 (100 J55) 121,772 107.733 TOTAI. VUTIDS 100,555) 121.772 107,733 CompHrative5 for mov¢ment in fvttds Net mov¢ment in funds At 5.4.23 At 6.4.22 Unrestricted funds Gcneral fund 4,531,199 (422.007) 4,109,192 TOTAL FUNDS 4531 199 422 0071 4 109.192 Comparativ¢ net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds UDrestrlettd funds Gen¢ral fund 89.353 {141.451) (369,YI9) (422,007) TOTAL FUINDS 1414511 369 909) 422,007) Page 10 ntinued...
THE JAMES BEATTIE CHARITABLE TRusr Noteg to th¢ FinAn¢i*l Ststemtnts- eontlnued for the Ye4r Ended S April 2024 MOVEMEf4T IN FiJNDS- continued A current ye&r 12 months 8nd Prior year 12 months ¢ombirted position is as follows: Net movemetrt in funds At 5.4.24 At 6.4.22 Unrestricted funds G¢n¢ral thnd 4,531.199 {3142741 4.216,925 TOTAL FUNDS 314 4531199 LL741 4 216 925 A current Ye 12 months and prior year 12 months Combin net moY¢ment in funds, included in th¢ above are as follows: In¢omin8 resour¢es Resources expended Gains and k)s5e5 lovement in funds Unrestricted fullds G¢neral fund 175,869 1242,006) {248,1371 (314.274) TOTAL FUNDS 175 869 248 l37) 314.274) io. RKLATKD PARTY DISCLOSURES There were no related paity transactions for the year ended 5 April 2024. ULTIMATE CO]YTROLLINC PARTY The Ultimate controllin8 party of the ¢harity is the tnJstee5. Page 11
THE JAMES BEAThIE CHARITABLE TRUST Detsiled St#tt)Dent of Fln%Dcial A¢tivltie$ for th¢ Year Etsded S April 21124 5.4.24 5.4.23 INCOME AND ENDOWMEIYTS Inve5trntnt income Property Income Distribution Dividends receivabl¢ fmm equity share5 and unil trusts Interest Receivable from fixed interest securiti¢S Bank and Unit Trnst Intercst Re¢eiv¢d 2,348 10,466 34.309 330 68,407 36 Total incoming resollrtes 86,516 89.353 EXPENDTfuRE Ch8rit4ble #ctivitieg Independ¢nt Ex8miners F¢¢ AccountaE)¢y Managemeni and AdministrlOn Donation5 Made 1,155 2,000 27,726 1,100 1,765 30,768 107818 100.555 141451 Total resources expended 100 555 141451 Net exp¢llditUTe before gains nd losses (14.039) (52.098) R¢Alistd re¢ogDiSed g4ln8 nd Ios5e$ Rea]ised Gains Change in Market Value of Investment 735,012 613 240) 43,12 413 1011 Net iDeom¢l{¢xpenditure) 107 733 422 007) This page not fonn of the s¢atu¢ory fmallcial statements Page 12
REGISTERED CHARITY NUMBER: 265654 Report of the Tru$tee5 Vlnd Unaudited Finaneial S¢itemenls for the Y¢*r Ended 5 April 2024 ror THE JAMES BEAThIE CHARITABLE TRusr Lan¢a5ter Haskins Limited Granville House 2 Tettenhall Road Wolv¢rhampton West Midlands WVI 4SB
THE JAMES BEAlE CHARrrABLE TRUST Contents of tbe FÉnaneiAI Statemtntg for the Year End¢d S Aprll 2024 P8gt Report of the Ttte3 IDdep¢ndent Ex*miner's Report Statement of Finanei¥l Activities Balgllct Sheet Notes ¢0 the Finxnchal Ststemettts 7 11 Detaikd Statement of FSngnclAI AethtIeS 12
THE JAMES BEAllE CHARITABLE TRusr Report of the Tru$tee9 for the Year Ended 5 April 2024 The Trusl¢¢s submit their annual reTM)rt and the financial statements for the year ended 5 April 2024. The Truskes have adopt¢d the provisions of A¢wun¢iDg and R¢porting by Chariti¢s'. Statement of Recommended Practice appli¢abl¢ to ¢harities preparing their a¢¢OntS in accordance with the Financial Rewrtitjg Standard applicable in the UK And Republic of Ireland (FRS 102) (Efftctive l January 2015) TRUST The full nam¢ of thr Charity 15 The Jam¢5 Beattie Charitable Trust and its Registration Number is 265654. On the 18th February 1972, James Beattie gifted by deed of settlement 5,000 25p 'A' Ordinary (R¢5triGt¢d Voting) Shar¢s in James Beattie Ltd (Value £7.500) to th¢ P¢rton Charitable TNst for charitable purrx>ses. James Beattie died on 17th August 1988 bequ¢stin& subje¢t to a life tenancy to his widow, 20% of the residue of his Estate to the Trust. Mrs. Beatti¢ di¢d on 2nd June 1993 and the Trust inherii¢d £2.1 Million. Following th¢ death of Mrs. B¢atti¢ th¢ TrLLSt kn been renamed the James Betie Charitsble Trnst. The Trustees. hav¢ the righi to distribute ¢apital and in¢ome at their full discretion to any charitsble institution5 or for chaTitabl¢ purpos. OBJEcfivES AND ACTIVITIES Objettlves and alms Mclnroy & Wood a¢t as investment managers the Charity. The policy of the TnJst¢e$ is to invest the majority of its resources with Mclnroy & Wood whos¢ instructions arc to maintain a conservative portfolio weighted towards capital 8rowth but realising sufficient income to enible the tn]st¢e5 dOtiOnS lIcY to be maintained. In planiThg our activiti¢s for the year due regard was given to the guidan¢e publish¢d by the charities commission on publi¢ benefi¢. Although Iht Trust Deed places no restrictions on the distribution of the ineome, Mr Beattie in a non-binding comment in hi5 will expTC55ed the wish that the income be largcly. but noi wholly, applied ftr th¢ b¢nefit of those WIK) live in the Wolvethampton ar¢a, wh¢r¢ h¢ gr¢#tiy et)joyed his life and had the privilege of playing a part in its aff8ir5. Publie beneflt The Trustees have paid due regard to th¢ guidon¢¢ issued by the Charity Commi5SLon on the subject of public beneflt and consider that activities. aims and strategies ar¢ for the public benefjt. Activitie5 focus on providiftg gr&nts ¢0 other ¢haTitabl¢ institutions and benefits are to the public, as the ben¢fi¢iari¢s of the iDStitutions. Speei41 R¢slri¢tion5 The Trtl Deed imposes no speeific restrictions on the way in whrch the Gharity Gan operate. Grintmakin The fund makes large numbers of small donations to help and support Communities primarily in lotiOnS where it operates. Particular empha5i5 is given to assist individuals and organi5ations in fvndrnising effo to meet th¢ abov¢ obje¢tiV¢5. ACIIIEVEMENT AND PERFORMANCE ChBrit*ble attivities In the y¢ar 46 Donatiorts {2023 .' 49) varying b¢twe¢n £22Q and £20.000 and totalling £69,674 (2023 . £107.818) were larg¢ly made to locsl Gharities or lo¢al brall¢h¢s of national elwities. FITrIANCIAL REVIEW FiDancial Reviéw The Statement of Firt8m¢i A¢iivities for the year is set out on page 5 of the financial statements. Funding is achieved thn)ugh th¢ investment rtfOlIo. It is in th¢ Trnstee's intention to Continue with both its itiv¢stment aad distribution polÉ¢ies. Page I
THE JAMES BEATTIE CHARITABLE TRUST Report of the Tntstee5 for the Year Ended 5 Aprll 1024 FTNAf4CIAL REVIEW Investm¢nt polity and objeetlves The ¢apitsl of the ¢harity is inv¢sted by A r¢putable $tkbrokeT to pr()duce income and reasonable capitsl gmwth in the lottg t¢mi. The ttV$tees are sarisfied that th¢ investment p¢rforn)an¢¢ in the yeor is on course with thi5 pDIi¢y. Reserves policy The unreslricted funds are held in a general r¢servc to g¢nerate invtstsnent income And capital gr0b to $at15fy the Truste¢s investment poli¢y. FUTURE PLANS It is th¢ intentiort of th¢ Trustees io donate all it5 in¢ome bui not necessarily on an exact year by year b0518. STRucfuRE. GOVERNANCE AND MANAGEMENT GowerniDg doeument The charity is controlled by it5 gOV¢rnln8 documeni. a deed of tnt aThd ConstiteS an unincorporated charity. Risk martagement The Trustees maintain a policy of continuous review of ih¢ major risks lo which the charity is expos. Sy$tem5 aTe in place to miiigate our ¢xposure to the major risk5. RKFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Thumbtr 265654 Prineipgl gddress P.0 Box 12 Bridgnonh Shrop5hire WV15 5LQ Trn5tee5 Mrs J V Redshaw M W Redshaw K C Dolman NIrs S J Norbury M C Boy¢e S R Archer IndepeDdettt Examlner Mark Ashton FCA FCCA Latlcaster Haskirts Limited Granville House 2 T¢tt¢nhall Road Wolv¢rhampton West Midlands WVI 4SB Solicitors Underhill Lwgley & Wright 7 Waterloo Ro8d Wolverhampton West Midlands WVI 4DW Page 2
THE JAMES BEATTIE CHARtTABLE TRUST Report of the Trys¢tts for ¢he Yer Ended 5 Aprll 2024 REFERENCE AND ADMINISTRATIVE DETAIIS Advisers MclnTOy & Wood E&%ter Aldersion Haddington E&st Lothian EH413SF Apprnved by order of the Ixard of Iee5 on.............. . ..l..i.l.Ls............ and signed on rts b¢ha]f by.. shaw- Tn]stee Page 3
Independent Examiner'5 R¢port to th¢Trn5tees of Th¢ James Beattie Charit4ble Trust Independent exaltr,8 report to the trustees ofThe James BÈattie Charitable Trnst I report to the charity tn]st¢es on my examination of the accouttts of The James Beattic ChaTitable Trust {tlic Trust} for the year¢nded 5 April 2024. Respon$lbiiitie5 and bA8is of report As the charity trnste¢s of the Trnst you ar¢ r¢sponsible for the pr¢p8Yation of th¢ accounts in accordance with the r¢quirements of the ChaTities Act 201 I {%h¢ A¢¢'). I report in respect of my exgmination of the Trllsfs a¢wunts ¢arried out wider Section 145 of the A¢t in carrying ut Y examination I have followed 811 applicable Directions given by the Charity Commissiort under Section 145(5Xb} ofthe Act. Independent exAminer'$ stgtetThent I have completed my examittation. I confirni that no material matt¢rs have come to my attention in connection with the ¢xamination giving me caus¢ to believe that in any mat¢rial respect.. aountIng Tecords were not kept in respectof the T]ust &8 required by Se¢tion 130 of th¢ Act; or the accounts do Tr)t a¢¢ord with those records,. or the accouDts do not Comply with the applicable requirements ¢on¢¢rnin8 the form and corttent of accounts set out in the Charities (A¢¢ounts and Reports) RegulatlODS 2008 oth¢r than any requirement that the awounts give a true and fair view whi¢h is not a matt¢r considtred as part of an jThj¢p¢Jent examinatiort. I have no wncems and have come aeross no othei matters in conrtection with the exomination trj which attention should be dr&wn in this report in order to enabl¢ a proper understanding of th¢ a¢wunts to be reaelLed. Mark Ashton FCA FCCA The Instltute of Chartered Accountants ill England and Wal¢5 L4ncasler Haskins Limited Granville House 2 T¢ttenhall Road Wolv¢rhampton West Midlands WVI 4SB Date.. 151i/do& Page 4
THE JAMES BEAlE CHARITABLE TRusr Slatsment of Financial Activiti for the Year Ended 5 April 21124 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes INCOME AND ENDOWMENTS FROM tnvesttnent incom¢ EXPENDrruRE ON Charitable Activiti¢x Ilonations Made A¢¢ountancy Managemertt Adminstration of the Charity 69,674 3.155 27.726 107.818 2,865 Tot41 100555 141451 Net gainslllo$ses) on investments 121,772 369 909) NET INCOMEI(EXPENDITURE) 107,733 {422,oon RECONCILIATION OF FUNDS Total hjnds brought forward 4,109,192 4,531,199 TOTAL FUNDS CARIUED FORWARD 4216925 4 109,192 Th¢ Thot¢s fonn part of these financial stslements Pag¢ 5
THE JAMES BEAlE CHAIUTABLE TRUST Bal4n¢e Sheet 5 Aprll 2024 5.4.24 Unrestricted fund 5.4.23 Totsl funds Notes FIXED ASSETS Investments 4.058 J20 3,982,396 CURREKf ASSETS Cash at bank 162J91 130,234 CREDITORS Amoutkts falling du¢ withitt one y¢ar (3,786) (3,438) NET CURRErrr ETs 126796 TOTAL ASSETS LFSS CURRENr LIABILITIES 4,216,925 4,109,192 NET ASSETS 4 216925 4 109 192 FUNDS Uj$tricted funds 4 216.925 4 109 192 TOTAL FUNDS 4.216.925 4.109.192 Th¢ fancial statements were approved by th¢ Board of Trustees and authorised for issu¢ on . and w¢tE signed ort its b¢haif by.. M W Rcdshaw- Truste¢ The notes forni Plrt of these finan¢ial ststements Page 6
THE JAMES BEAllE CHARITABLE TRUST Note5 to th¢ Finan¢ig1 Statements for the Yer Ended 5 April 2024 COMPANY JNFORMATION The James Beattie Charitabl¢ Trust is a charity, registered in England and Walts. The Company's Chartiy registration number and registered offjce address can be found on the Company lThfomiation pag¢. ACCOUNTING POLICIES Basis of prepxring the fin8neial st8tements These Financial Stat¢ments for the year ended 5 April 2024 Comply with FRS 102. There were no material depariure5 from that 5tandaTd. The presentation ¢urrency is £ sterling. Finlnelal reporting gtsndrd 102- rtdueed disclosure exemptions The charity has taken advantage of the following disc105ure exemptions in preparing thes¢ financi statement5. as pemiitted bv FRS 102'The Financia] Reporting Standard applicable in the UK and Republic of Ireland,: the requirrments of Se¢tiOTL 7 Statement of Cash Flows. the requirement of pardgraph 33.7. Crftlcal itt(truntlng jlldgemtnts key source5 of estimation ullcertalnty The preparation of the financial siatements r¢quir¢5 th¢ management to make judgements. estimates and assutnption5 thai affect the amounts reported.These estimr4tes and judgemenis are ¢ontinually review and ar¢ based on experience and other factor5. including exp¢rtstion5 of futurt events that are believed to be reosonable und¢r the ¢ircumslances. Income All in¢om¢ is r¢cogntsed in the Statement of Finan¢ia] Activities once the ¢harity ha8 ¢ntitlement to thc fund4 It 1$ probabl¢ that th¢ illcome will be received and the amount can be m¢asurtd rrliably. ExpeDditure Liabilities are recognis¢d as expendimre as soon as there is a legal or constructive obligation committing the harity to that expenditure. Lt i5 probablt that a ttansf¢r of e¢onomi¢ benefits will be required in settlem¢nt and rh¢ amount of th¢ obligation Can be measure4J reliably. Expenditure is accounted for on an accrua15 basis and has been c1&8sified under headkn85 that aggregate all ¢os¢ relat¢d to the category. Wherc costs cannot b¢ diTertty attnbuted to particular headin8s they have becn allocated to activities on a basis consistent with the use of resources. Gronts offered subject to conditions which have not b¢en m¢t at th¢ year ¢nd date are noted as a commitment but not o¢w¢d as expenditure. Tai#tion The chariry is exernpt from taxon its charitable activiti¢s. FNDd 8ecounting Unrestri¢t¢d funds can be u5¢d in awordance with the charitable objccttves at the dis¢r¢tion of the trustees. Resthcted fvnds can onty be used for particular r¢stTiCted purp05e5 within the obj¢¢ts of the charity. Restrictions aris¢ wh¢n sp¢cified by the donor or when funds are raised for particular restti¢*d purpose Further explanatiort of th¢ natur¢ and purpose of each fund is in¢lud¢d in th¢ notes tt> the finan¢ial statements. Page 7 continued...
I'HE JAMES BEATTIE CHARITABLE TRUST Notes to the Fin8litlal St&tetnents- conlit)ued for the Ye*r Eod•d S April 2024 ACCOUNTING POLICIES- contirtued For¢i¥n currellcies Assets and liabilities in foreign curr¢ncie5 are translated into sterling at the rates of exch&ng¢ ruling at the balance she¢t date. Transactions in foreign currencies are translated into Sterling ai the Tate of exchange rulittg at the date of trgn5action. Exchange differences are tsken into Account in arriving at the op¢rdting r¢sulÈ. Investment property Jnvestments ar¢ staled at market vatue al the balance sheet date. The SOFA includes tb¢ n¢t gains and losses arising on r¢valuation5 and disposa15 thioughout the year. INVESTMENT INCOME 5.4.24 5.4.23 Property Inwme Distribution Dividends receivable from equity shares and unit trusts tnterest R¢¢eivable from fixed inter¢st securities Bank atld Unit TNst Interest Received 2.348 34,309 330 49.529 10,466 68,407 36 10.444 CHARITABLE AcTIVlEs COSIS Grant fijnding of a¢tivities Direct Costs Totals IknThations Made Accountartcy Management and AdTninstralion of the Charity 69.674 69,674 3,155 3.155 27.726 100.555 TRUSTEES, REMUNERATION AND BENEFITS Th¢re were llD tnte¢s, remuneration or other b¢nefits for th¢ year ended 5th April 2024 nor foT th¢ y¢or ended 5th April 2023. Tru5tees' eIpense5 There were no trustees, expenses ld for th¢ y¢ar ¢nded S April 2024 nor for the year end¢il 5 April 2023. Page 8
THE JAMES BEAllE CIIARtTABLE TRUST Not¢5 to the Fln*nclal Statements- CoDtiD¢d for the Year Ended S April 2024 COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES No comparative thoie is shown b¢¢aus¢ Total Funds ar¢ JI Unrestrirted FulS. FIXED ASSET INVESTMENTS Fixed Asset Tnvestments MARKET VALUE AI 6 ApTiI 2023 Additions Disposa15 Revaluations 3,9S2.396 4,135,732 (4.181.580) 121772 At 5 April 2024 4 058 320 NET BOOK VALUE At 5 April 2024 4 058 320 At S April 2023 3 982 396 AllYs1s of Investments Held.. 5.4.24 5.4.23 Fixed intere51 and index linked United Kingdom R¢st of the World Other Invesljnet 3.375,844 269,017 413,459 559,158 1.006,441 1.638,637 778 160 4 058 320 Fixcd asset investmcnts ar¢ sta¢¢d at market Value. Pag¢ 9 continued..
TEIE JAMES BEATTIE CHARrrABLE TRusr Notes to the FiDatteial Ststement$- eoMtlnu¢d for the Year Ended 5 Apiil 21124 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 5.4.24 5.423 Other creditors MOVEMENT IN FUIYDS Net movement ITh funds Ai 5.4.24 At 6.4.23 Unrestricted General nd 4,109,192 107.733 4,216,925 TOTAL FUNDS 107,733 4,216.925 Net movement in funds, included in the atK>v¢ are a5 follows= In¢ominK resouwes R¢sourc¢5 expended Gains and losses MovemeTrt in funds UTrre5tricted fuDds G¢n¢rdl fund 86.516 (100 J55) 121,772 107.733 TOTAI. VUTIDS 100,555) 121.772 107,733 CompHrative5 for mov¢ment in fvttds Net mov¢ment in funds At 5.4.23 At 6.4.22 Unrestricted funds Gcneral fund 4,531,199 (422.007) 4,109,192 TOTAL FUNDS 4531 199 422 0071 4 109.192 Comparativ¢ net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds UDrestrlettd funds Gen¢ral fund 89.353 {141.451) (369,YI9) (422,007) TOTAL FUINDS 1414511 369 909) 422,007) Page 10 ntinued...
THE JAMES BEATTIE CHARITABLE TRusr Noteg to th¢ FinAn¢i*l Ststemtnts- eontlnued for the Ye4r Ended S April 2024 MOVEMEf4T IN FiJNDS- continued A current ye&r 12 months 8nd Prior year 12 months ¢ombirted position is as follows: Net movemetrt in funds At 5.4.24 At 6.4.22 Unrestricted funds G¢n¢ral thnd 4,531.199 {3142741 4.216,925 TOTAL FUNDS 314 4531199 LL741 4 216 925 A current Ye 12 months and prior year 12 months Combin net moY¢ment in funds, included in th¢ above are as follows: In¢omin8 resour¢es Resources expended Gains and k)s5e5 lovement in funds Unrestricted fullds G¢neral fund 175,869 1242,006) {248,1371 (314.274) TOTAL FUNDS 175 869 248 l37) 314.274) io. RKLATKD PARTY DISCLOSURES There were no related paity transactions for the year ended 5 April 2024. ULTIMATE CO]YTROLLINC PARTY The Ultimate controllin8 party of the ¢harity is the tnJstee5. Page 11
THE JAMES BEAThIE CHARITABLE TRUST Detsiled St#tt)Dent of Fln%Dcial A¢tivltie$ for th¢ Year Etsded S April 21124 5.4.24 5.4.23 INCOME AND ENDOWMEIYTS Inve5trntnt income Property Income Distribution Dividends receivabl¢ fmm equity share5 and unil trusts Interest Receivable from fixed interest securiti¢S Bank and Unit Trnst Intercst Re¢eiv¢d 2,348 10,466 34.309 330 68,407 36 Total incoming resollrtes 86,516 89.353 EXPENDTfuRE Ch8rit4ble #ctivitieg Independ¢nt Ex8miners F¢¢ AccountaE)¢y Managemeni and AdministrlOn Donation5 Made 1,155 2,000 27,726 1,100 1,765 30,768 107818 100.555 141451 Total resources expended 100 555 141451 Net exp¢llditUTe before gains nd losses (14.039) (52.098) R¢Alistd re¢ogDiSed g4ln8 nd Ios5e$ Rea]ised Gains Change in Market Value of Investment 735,012 613 240) 43,12 413 1011 Net iDeom¢l{¢xpenditure) 107 733 422 007) This page not fonn of the s¢atu¢ory fmallcial statements Page 12