Page |
|
|---|---|
| ReferenceandAdministrativeInformation | 1 |
| Trustees'AnnualReport | 2-3 |
| IndependentExaminer'sReport | 4 |
| StatementofFinancialActivities | 5 |
| BalanceSheet | 6 |
| NotestotheAccounts: | |
| 1.AccountingPolicies | 7 |
| 2.RentalIncomeandExpenses | 8 |
| 3.QuotedInvestmentIncome | 9 |
| 4.GrantsPayable | 9 |
| 5.GovernanceCosts | 10 |
| 6.InvestmentProperties | 10 |
| 7.Cash | 11 |
| 8.Debtors | 11 |
| 9.Creditors:AmountsFallingDueWithinOneYear | 11 |
| 10.ScheduleofInvestments-QuitterCheviotAccount | 12-18 |
Tho Oldham Foundation Independent Examlne¢s Report Year Ended 5 Aprll 2025 I report on the accounts of The Oklham Foundation, charity number 269263. for the year ended S April 2025. Respecllve Responsibilities of the Trustees and Examiner The charity's trustees are responsible lor the preparab.on of the accounts. The tru51ees consider that these accounts do not require an audit under section 144 of the Charities Act 2011. It is my responsibiltty lo.. - examine the accounts under section 145 of ihe Charities Act - to follow the procedures laid down in the general directions given by the Chanty Commission (under section 145{5){b} of Ihe Charilies Act) and - to slate whether particular matters have corne to my attenlion Basls of Independent Examinerfs Statement examination was carried out in accordance with the general directions given by Ihe Charity Commis010n. An examination includes a review of the accounting records kept by the charlty and a comparison of the accounts presented with those records. It also includes a consideration of unusual rtems or disclosures in the accounts. and seeking eXFanationS from the trustees conceming any such matters. The procedures undertaken do not provide all the evKlence that would be required in an audrt. and consequently no opinion is given as to whether the accounts present a 'true and fail view, and the report is limited to those matters set out in the slalement beltyv. Independent Examinerfs Statsment In connection with my examination, no matter has come to my attention.. (11 which gives me aSonable cause to believe thal. in any material resFeCt, the requirements: - to keep accounting records in accordance wrth SeCtn 130 of the Charities Act - lo prepare accounts which accord yth the accounling records and compty with thè accounting requirements of the Charities Act have not been met, or (2) to vthich, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Mark Robinson ICAEW Chartered Accountant TrulbNell Near Stroud Gloucestershire GL6 9HD
Note |
2025 |
2024 |
|
|---|---|---|---|
| £ | £ | ||
| UNRESTRICTEDFUNDS | |||
| Incomefund | |||
| Incomeandendowmentsfrom: | |||
| Rentalincome | 2 | 26,770 | 29,187 |
| Quotedinvestmentincome | 3 | 18,064 | 15,203 |
| 44,834 | 44,390 | ||
| Expenditureon: | |||
| Quotedinvestmentmanagementcosts | 2,086 | 6,095 | |
| Rentalexpenses | 2 | 5,560 | 4,439 |
| Grantspayable | 4 | 45,500 | 45,100 |
| Trustees'andhonorariumexpenses | 5 | 5,144 | 3,107 |
| Bankcharges | - | - | |
| Governancecosts | 5 | 48,254 | 30,519 |
| 106,544 | 89,260 | ||
| Netexpenditure | (61,710) | (44,870) | |
| Transferfromcapitalfunds | 61,710 | 44,870 | |
| Incomefundbalancebroughtforward | - | - | |
| Incomefundbalancecarriedforward | - | - | |
| Capitalfunds | |||
| Mainfund | |||
| Balancebroughtforward | 369,406 | 414,457 | |
| Bookcostadjustments | (843) | (181) | |
| Transfertoincomefund | (61,710) | (44,870) | |
| Unrestrictedfundamalgamation | 480,873 | ||
| Balancecarriedforward | 787,726 | 369,406 | |
| Revaluationreserve | |||
| Balancebroughtforward | 829,033 | 777,031 | |
| Net(loss)/gainonquotedinvestments | (17,505) | 52,002 | |
| Adjustedbrokeraccrual-unrealised | (3,328) | - | |
| Realisedlossonsale12MontpellierArcade,Cheltenham | (9,380) | - | |
| Unrealisedgainon1/1aQueensCircus | 1d | 5,000 | - |
| Unrestrictedfundamalgamation | (480,873) | - | |
| Balancecarriedforward | 322,947 | 829,033 | |
| Totalcapitalfundsbalancecarriedforward | 1,110,673 | 1,198,439 | |
| Totalunrestrictedfundsbalancebroughtforward | 1,198,439 | 1,191,488 | |
| Netmovementinunrestrictedfunds | (87,766) | 6,951 | |
| Totalunrestrictedfundsbalancecarriedforward | 1,110,673 | 1,198,439 |
| Note | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| Fixedassets | |||
| Investmentproperty | 6 | 362,500 | 620,000 |
| QuitterCheviotGlobalIncomeandGrowthFundforCharities | 10 | 706,450 | 562,025 |
| 639,900Units | |||
| Currentassets | |||
| Cash | 7 | 32,903 | 39,090 |
| Debtors | 8 | 20,486 | 10,329 |
| 53,389 | 49,419 | ||
| Totalassets | 1,122,339 | 1,231,444 | |
| Creditors:amountsfallingduewithinoneyear | 9 | (11,666) | (33,005) |
| Netassets | 1,110,673 | 1,198,439 | |
| Representing: | |||
| Incomefund | |||
| Capitalfunds: | |||
| Mainfund | 787,726 | 369,406 | |
| Revaluationreserve | 322.947 | 829.033 | |
| Totalfunds | ~,~~u,bis | 'I,'lyt3,4~y |
| estotheAccounts(Continued) rEnded5April2025 |
||
|---|---|---|
Page |
2025 |
2024 |
| £ | £ | |
| RentalIncomeandExpenses | ||
| (a)Summary | ||
| Rentalandotherincome | ||
| 50%sharein1/1AQueen'sCircus,Cheltenham | 26,770 | 29,187 |
| 70%sharein12MontpellierArcade,Cheltenham | - | - |
| 5 | 26,770 | 29,187 |
| Rentalexpenses | ||
| JohnRydemanagementfees | 1,894 | 2,059 |
| Otherexpenses | 3,666 | 2,380 |
| 5 | 5,560 | 4,439 |
| Totalnetrentalincome | 21,210 |
24,748 |
| (b)Analysisbyproperty | ||
| 50%sharein1/1AQueen'sCircus,Cheltenham | ||
| Income | ||
| Rentalincome | 25,250 | 25,441 |
| Insuranceclaimsandinsurance/servicecontributions | ||
| received | 1,520 | 3,746 |
| Lessrentalexpenses: | ||
| JohnRydemanagementfees | (1,894) | (2,059) |
| Expenses/costs | (1,520) | (587) |
| Netrentalincome | ||
| 70%sharein12MontpellierArcade,Cheltenham | ||
| Rentalincome | ||
| Lessrentalexpenses | ||
| JohnRydemanagementfees | ||
| Expenses/costs | (2,146) | (1,793) |
| Netrentalincome | (2,146) | (1,793) |
| Totalnetrentalincome | 21,210 | 24,748 |
Page |
2025 |
2024 |
||
|---|---|---|---|---|
| £ | £ | |||
| 3. | QuotedInvestmentIncome | |||
| QuitterCheviotaccount | ||||
| UKinterest | 2,398 | 4,286 | ||
| UKdividends | 14,671 | 8,165 | ||
| Overseasinterest | 334 | 1,083 | ||
| Overseasdividends | 34 | 1,291 | ||
| ERIdividends | 603 | 180 | ||
| ERIinterest | 3 | 5 | ||
| Accruedincomescheme | 21 | 193 | ||
| 5 | 18,064 | 15,203 | ||
| 4, | GrantsPayable | |||
| CheltenhamFestivals | 25,500 | 24,600 | ||
| GlobalMakeSomeNoise | - | 6,000 | ||
| GlobalCharities | 6,000 | - | ||
| PirtonBuryTrust | - | 1,500 | ||
| RadioWinchcombe | 4,000 | 4,000 | ||
| StPeter'sChurchHolwell | - | 1,500 | ||
| GlosHistoryTrust | 1,500 | - | ||
| SueRyder | 2,500 | - | ||
| Grantspayablesubtotal | 10 | 39,500 | 37,600 | |
| GrantstoOldhamPensioners | 6,000 | 7,500 | ||
| Totalgrantspayable | 5 | 45,500 | 45,100 |
Page |
2025 |
2024 |
|
|---|---|---|---|
| £ | £ | ||
| GovernanceCosts | |||
| Michelmoresfees | 44,160 | 26,985 | |
| Independentexaminationfees | 500 | 450 | |
| Accountancyfees | 3,594 | 3,084 | |
| 5 | 48,254 | 30,519 |
| 50%sharein1/1AQueen'sCircus,Cheltenham | |||
|---|---|---|---|
| Investmentvaluebroughtforward | 357,500 | 357,500 | |
| Gainonrevaluation(note1(d)) | 5 | 5,000 | - |
| Fairvalueat5April | 362,500 | 357,500 | |
| 70%sharein12MontpellierArcade,Cheltenham | |||
| Investmentvaluebroughtforward | - | 262,500 | |
| Lossonrevaluation(note1(d)) | 5 | - | - |
| Fairvalueat5April | - | 262,500 | |
| Totalfairvalueat5April | 6 | 362,500 | 620,000 |
Page |
2025 |
2024 |
||
|---|---|---|---|---|
| £ | £ | |||
| 7, | Cash | |||
| Accountsasfollows: | ||||
| QuitterCheviotIncome | 109 | - | ||
| QuilterCheviotCapital | 695 | 15,046 | ||
| NatWest | 24,919 | 19,610 | ||
| MichelmoresClient | 5,305 | 2,559 | ||
| Rentaldeposit | 1,875 | 1,875 | ||
| JohnRyde-moniesretained | - | - | ||
| 6 | 32,903 | 39,090 | ||
| 8. | Debtors | |||
| Accruedinvestmentincome | - | 3,329 | ||
| Rentowedfromtenants | 7,000 | 7,000 | ||
| DuefromOrlandoOldhamWillTrust | 13,485 | - | ||
| 6 | 20,485 | 10,329 | ||
| 9. | Creditors:AmountsFallingDueWithinOneYear | |||
| Grantspayable | - | - | ||
| Rentaldepositheld | 1,875 | 1,875 | ||
| Deferredrentalincome | 5,477 | 5,477 | ||
| JohnRydemanagementfees | 39 | 39 | ||
| Quittersfees | 1,075 | 1,568 | ||
| Michelmoresfees | 2,700 | - | ||
| Independentexaminationfees | 500 | 450 | ||
| FundsowedtotheOrlandoOldhamWillTrust | - | 23,596 | ||
| 6 | 11,666 | 33,005 |
| At6Aril2024 | At6Aril2024 | Acquisitions/Disosals | Acquisitions/Disosals | Acquisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
Market | Value£ | |
| Retained | ||||||||||
| AberforthSmallerCompaniesTry | 165 | 2,241 | 03/06/2024 | (165) | (2,548) | 307 | - | - | ||
| AngloAmericanUSD0.54945 | 104 | 2,172 | 03/06/2024 | (104) | (2,579) | 407 | - | - | ||
| ArcTime:TrustII | 6,250 | 4,913 | 04/06/2024 | (6,250) | (5,058) | 145 | - | - | ||
| AshteadGroup | 21 | 1,197 | 03/06/2024 | (21) | (1,211.53) | 15 | - | - | ||
| AssuraPlcordGBP0.10 | ||||||||||
| AstraZeneca | 100 | 10,620 | 03/06/2024 | (100) | (12,153) | 1,533 | - | - | ||
| BaillieGifford | 5,500 | 7,832 | 04/06/2024 | (5,500) | (7,838) | 6 | - | - | ||
| BarclaysPlcordGBP0.25 | 22/04/2024 | 1,250 (1,250) |
2,278 | (2,668) | 390 | - | - - |
|||
| BlackrockContinental | 8,750 | 16,762 | 03/06/2024 |
(8,750) | (16,999) | 237 | - | - |
| At6Aril2024 | At6Aril2024 | Ac | uisitions/Disosals | uisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
Market | Value£ | |
| Retained | ||||||||||
| BritishAmericanTobaccoordGBPC | 160 | 3,726 | 03/06/2024 | (160) | (3,897) | 171 | - | - | ||
| BaeSystemsOrdGBP0.025 | 220 | 2,917 | 03/06/2024 | (220) | (3,086) | 169 | - | - | ||
| BMOPropertyQDis | 650 | 5,838 | (650) | (6,185) | 347 | - | - | |||
| BP | 785 | 3,973 | 03/06/2024 | (785) | (3,851) | (123) | - | - | ||
| BTGroupOrdGBP0.05 | 1,500 | 1,627 | 03/06/2024 | (1,500) | (2,057) | 430 | - | - | ||
| ChyrsalisInv | 3,370 | 2,726 | 03/06/2024 | (3,370) | (2,717) | (9) | - | - | ||
| CompassGroup | 110 | 2,443 | 03/06/2024 | (110) | (2,398) | (45) | - | - | ||
| DarkTracePLC | 715 | 3,157 | 03/06/2024 | (715) | (4,205) | 1,048 | - | - | ||
| Diageo | 131 | 3,733 | 03/06/2024 | (131) | (3,455) | (278) | - | - | ||
| Dodge&Cox | 455 | 15,261 | 04/06/2024 | (455) | (15,124) | (137) | - | - | ||
| Experian | 90 | 3,052 | 03/06/2024 | (90) | (3,251) | 199 | - | - | ||
| FidantePartners | 1 | - | (1) | (111) | 111 | - | - |
| At6Aril2024 | At6Aril2024 | Ac | uisitions/Disosals | uisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
Market | Value£ | |
| Retained | ||||||||||
| FidelityInvestmentsFundsFidelity | 6,100 - |
8,485 | 30/04/2024 03/06/2024 |
(6,100) | 34 | (8,241) | (278) | - | - - |
|
| FidelityInvestmentFundFidelityEui | 14,129 | 16,022 | 03/06/2024 | (14,129) | (16,262) | 240 | - | - | ||
| GSKPLC | 184 | 2,998 | 03/06/2024 | (184) | (2,950) | (48) | - | - | ||
| HaleonPLC | 880 | 2,868 | 08/05/2024 | (880) | (2,907) | 39 | - | - | ||
| Halma | 100 | 2,270 | 03/06/2024 | (100) | (2,245) | (25) | - | - | ||
| HarvbourvestGlobal | 295 | 6,829 | 03/06/2024 | (295) | (7,024) | 195 | - | - | ||
| HendersonIAcc | 9,500 | 11,372 | 03/06/2024 | (9,500) | (11,514) | 142 | - | - | ||
| HGCapital | 1,645 | 7,855 | 03/06/2024 | (1,645) | (7,923) | 68 | - | - | ||
| HSBCHoldings | 680 | 4,362 | 03/06/2024 | (680) | (4,737) | 375 | - | - | ||
| IntermediateCapital | 137 | 2,850 | 03/06/2024 | (137) | (3,120) | 270 | - | - | ||
| IsharesS&P500 | 1,440 | 59,000 | 03/06/2024 | (1,440) | (59,732) | 732 | - | - | ||
| IMIord | 175 | 3,092 | 03/06/2024 | (175) | (3,291) | 199 | - | - |
| At6Aril2024 | At6Aril2024 | Ac | uisitions/Disosals | uisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | ||
|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
MarketValue£ | |
| Retained | |||||||||
| JDSportsFashion | 1,325 | 1,673 | 03/06/2024 | (1,325) | (1,819) | 146 |
|||
| JPMorganAmerican | 4,215 | 41,223 | 03/06/2024 | (4,215) | (40,160) | (1,063) | |||
| JPMorganEmerging | 1,400 | 15,036 | 09/07/2024 03/06/2024 |
(1,400) | 144(15,022) |
(158) | |||
| Legal&General | 950 | 2,385 | (950) | (2,399) | 14 |
||||
LondonStockExchange |
36 | 3,376 | 03/06/2024 | (36) | (3,298) | ~~$) | |||
| M&GOptimal | 33,750 | 31,678 | 03/06/2024 | (33,750) | (50) (31,496) |
(132) | |||
| M&GJapanSterlingPPDis | 5,475 | 8,006 | 30/04/2024 30/06/2024 |
(5,475) | (7,824) | (182) | |||
| MelroseIndustriesPlcordGBP0.22 | 553 | 3,726 | 03/06/2024 | (553) | (3,393) | (333) | |||
| MercantileInvestments | 3,025 | 6,716 | 03/06/2024 | (3,025) | (7,451) | 735 |
|||
| NatWestGroup | 990 | 2,756 | 22/04/2024 | (990) | (2,769) | 13 |
|||
| OcadoGroup | 125 | 475 | 03/06/2024 | (125) | (477) | 2 |
| At6Aril2024 | At6Aril2024 | Ac | uisitions/Disosals | uisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
Market | Value£ | |
| Retained | ||||||||||
| PimcoDynamic | 900 | 11,619 | 03/06/2024 | (900) | (11,673) | 54 | - | - | ||
| PolarCapital | 735 | 12,796 | 04/06/2024 30/06/2024 |
(735) | (13,068) | 272 | - | - | ||
| Prudential | 275 | 1,973 | 03/06/2024 | (275) | (2,090) | 117 | - | |||
| QuitterInvestorsLimited | 03/06/2024 12/06/2024 |
500,000 9,300 |
572,000 10,621 |
|||||||
| 30/08/2024 | (1,365) | |||||||||
| 14/01/2025 | 128,875 | 149,495 | ||||||||
| 15/01/2025 28/02/2025 |
1,725 | 2,004 | (420) | (25,885) | 639,900 | 706,450 | ||||
| Relx | 140 | 4,645 | 03/06/2024 | (140) | (4,797) | 152 | - | - | ||
| Renishaw | 62 | 2,632 | 03/06/2024 | (62) | (2,510) | (122) | - | - | ||
| RioTinto | 105 | 5,223 | 03/06/2024 | (105) | (5,726) | 503 | - | - | ||
| ShellPlcBord | 360 | 10,008 | 03/06/2024 | (360) | (10,222) | 214 | - | - | ||
| SchroderInvestment | 145 | 32,906 | 03/06/2024 | (145) | (33,095) | 189 | - | - |
| At6Aril2024 | At6Aril2024 | Ac | uisitions/Disosals | uisitions/Disosals | Gains/ | At5Aril2025 | At5Aril2025 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Description | Nominal Holding |
Market Value£ |
Date | NominalAcquisition Holding s/ |
Disposals £ |
(Losses) £ |
Nominal Holding |
Market | Value£ | |
| Retained | ||||||||||
| Segro | 440 | 3,815 | 03/06/2024 | (440) | (4,016) | 201 | - | - | ||
| Smith(DS) | 700 | 2,870 | 03/06/2024 | (700) | (2,698) | (172) | - | - | ||
| StandardChartered | 300 | 2,095 | 03/06/2024 | (300) | (2,348) | 253 | - | - | ||
| SSEPlcGBP0.50 | 135 | 2,146 | 03/06/2024 | (135) | (2,388) | 242 | - | - | ||
| TempletonEmerging | 8,600 | 13,261 | 03/06/2024 | (8,600) | (13,433) | 172 | - | - | ||
| Unilever | 125 | 4,796 | 03/06/2024 | (125) | (5,384) | 588 | - | - | ||
| UKGilts4.5%07/12/2042 | 25,500 | 25,515 | 03/06/2024 | (25,500) | (25,064) | (451) | - | - | ||
| UKGilts4.75%7/12/30 | 29,000 | 30,462 | 03/06/2024 | (29,000) | (30,026) | (436) | - | - | ||
| Vanguard | 370 | 34,464 | 03/06/2024 | (370) | (34,407) | (57) | - | - | ||
| VHGblSustainable | 10,561 | 7,097 | 03/06/2024 | (10,561) | (8,174) | 1,077 | - | - | ||
| VeritasFundsAsian | 11 | 8,349 | 03/06/2024 | (11) | (8,251) | (98) | - | - | ||
| Whitbreadord | 90 | 2,878 | 03/06/2024 | (90) | (2,672) | (206) | - | - |