REGISTERED CHARITY NUMBER: 273079
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2025
for
The A & R Woolf Charitable Trust
DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB
The A & R Woolf Charitable Trust
Contents of the Financial Statements for the Year Ended 5 April 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
The A & R Woolf Charitable Trust
Reference and Administrative Details for the Year Ended 5 April 2025
TRUSTEES
TRUSTEES A M Rose Treasurer Dr G L Edmonds Chair S A Rose PRINCIPAL ADDRESS c/o Mr Andrew Rose Camellia 10 Cleves Wood Weybridge Surrey KT13 9TH
REGISTERED CHARITY NUMBER 273079 INDEPENDENT EXAMINER DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB
Page 1
The A & R Woolf Charitable Trust
Report of the Trustees for the Year Ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity as per its governing document are: Such purposes as are recognised by the law of England to be charitable.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Significant activities
The Trustees undertake to give grants to other charitable bodies in order to achieve its objectives. Grants given are at the full discretion of the Trustees, who hold regular meetings to discuss potential grant giving opportunities.
Public benefit
The charity undertakes to further its purposes for the public benefit through the giving of grants to other charitable bodies as it sees fit.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Charity has continued with its grant giving programme during the year, giving a total of 62 grants totalling £118,400 (2024: £104,250).
FINANCIAL REVIEW
Financial position
The Charity had total income for the year of £127,331 (2024: £90,779) comprising of only investment income. Expenditure totalled £162,874 (2024: £147,921) consisting of £118,400 (2024: £104,250) on grants, £3,828 (2024: £2,070) on support costs and £40,646 (2024: £41,601) on portfolio management costs. All income and expenditure for both 2025 and 2024 was unrestricted. Funds carried forward totalled £4,101,306 (2024: £4,378,955), all of which were unrestricted.
Reserves policy
The Charity held unrestricted funds at the end of the year of £4,101,306 (2024: £4,378,955). These reserves are considered adequate by the Trustees, and will allow the charity to continue making grants in the next financial period. In view of the nature of the charity, the Trustees are satisfied that no formal level of reserves are required, as grants are only made when there are available funds, and the charity does not have any liabilities to make grants.
Going concern
The Charity has minimal fixed costs, with the main source of expenditure being grants made to institutions which can be made at the discretion of the Trustees. Furthermore, the Charity had a healthy net asset position at the year end. The Trustees therefore consider that based on the circumstances existing at the date of signature of the accounts the charity is a going concern. This basis is adopted within these accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The charity is an unincorporated trust, formed under a Trust Deed dated 24 January 1977, and is registered with the Charities Commission, with the charity number 273079.
Page 2
The A & R Woolf Charitable Trust
Report of the Trustees for the Year Ended 5 April 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
New Trustees are recommended by the current Trustees when there is a vacancy. Trustees are then considered and appointed by the board at the next appropriate meeting.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A M Rose - Trustee
Page 3
Independent Examiner's Report to the Trustees of The A & R Woolf Charitable Trust
Independent examiner's report to the trustees of The A & R Woolf Charitable Trust
I report to the charity trustees on my examination of the accounts of The A & R Woolf Charitable Trust (the Trust) for the year ended 5 April 2025.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
James Foskett FCA DChA
DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB
Date: .............................................
Page 4
The A & R Woolf Charitable Trust
Statement of Financial Activities for the Year Ended 5 April 2025
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities Grants Supporting good causes Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.25 Unrestricted fund £ 127,331 40,646 118,400 3,828 162,874 (242,106) (277,649) 4,378,955 4,101,306 |
5.4.24 Total funds £ 90,779 41,601 104,250 2,070 147,921 263,525 206,383 4,172,572 4,378,955 |
|---|---|---|
The notes form part of these financial statements
Page 5
The A & R Woolf Charitable Trust
Balance Sheet 5 April 2025
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
5.4.25 Total funds £ 4,013,321 38,110 53,535 91,645 (3,660) 87,985 4,101,306 4,101,306 4,101,306 4,101,306 |
5.4.24 Total funds £ 4,346,852 - 34,173 34,173 (2,070) 32,103 4,378,955 4,378,955 4,378,955 4,378,955 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A M Rose - Trustee
The notes form part of these financial statements
Page 6
The A & R Woolf Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
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.
The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the trustees have concluded that they can continue to adopt a going concern basis in preparing the annual report and accounts.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The presentational currency of the financial statements is pound sterling.
Investments
The investments are stated at fair value.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Critical judgement ad estimates
In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.
continued...
Page 7
The A & R Woolf Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
1. ACCOUNTING POLICIES - continued
Critical judgement ad estimates
In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statement nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
2. INVESTMENT INCOME
3.
4.
| Investment income RAISING FUNDS Investment management costs Portfolio management GRANTS PAYABLE Grants |
5.4.25 £ 127,331 5.4.25 £ 40,646 5.4.25 £ 118,400 |
5.4.24 £ 90,779 5.4.24 £ 41,601 5.4.24 £ 104,250 |
|---|---|---|
continued...
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The A & R Woolf Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
4. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| 5.4.25 | 5.4.24 | |
|---|---|---|
| £ | £ | |
| Grants | - | 2,070 |
| Cats Protection | 10,000 | 1,000 |
| MacMillan Cancer Support | 10,000 | 3,750 |
| Dogs Trust | 10,000 | 3,000 |
| Minstead Trust | 3,000 | 3,000 |
| MIND | 10,000 | 4,000 |
| Unicef | 10,000 | 5,000 |
| Royal Hospital for Neurodisability | 3,000 | 3,000 |
| MNDA | 2,000 | 2,000 |
| Dogs for Good | 5,000 | 5,000 |
| Bone Cancer Research Trust | 1,000 | 1,000 |
| RNLI | 1,000 | 1,000 |
| Teenager Cancer Trust | 1,000 | - |
| CRY | 1,000 | 1,500 |
| Tusk Trust | 1,000 | 1,900 |
| Four Paws | 1,000 | 1,000 |
| Maggies | 1,000 | 3,000 |
| Alzheimers Society | 2,000 | 1,000 |
| Essex Wild Trust | 1,000 | 1,000 |
| British red cross | 10,000 | - |
| ORCA | 1,000 | 1,000 |
| WWF | 1,000 | 1,000 |
| Myeloma UK | 1,000 | - |
| Ovarian Cancer Action | 1,000 | 2,000 |
| Rethink Mental Illness | 1,000 | 1,000 |
| Stroke Association | 1,000 | 1,000 |
| London Air Ambulance Charity | 3,000 | - |
| Paul Strickland Scanner Centre | 1,000 | - |
| Sheldrick Wildlife Trust | - | 1,000 |
| Born Free Foundation | 1,000 | 2,000 |
| Donkey Sanctuary | 1,000 | - |
| The Sharks Trust | 1,000 | 1,000 |
| Woodland Trust | 1,000 | - |
| David Shepard Wildlife Foundation | 1,000 | - |
| International Animal Rescue | 1,000 | 1,000 |
| Prostate Cancer UK | 10,000 | 4,000 |
| World Animal Protection | 1,000 | - |
| WWF UK | 1,000 | - |
| Other cheques less than £1000 | 6,400 | 15,030 |
| Bowel Cancer | - | 5,000 |
| Great Orrmand Street Hospital | 1,000 | 10,000 |
| Whizz Kids | - | 2,000 |
| CCJ | - | 1,000 |
| Endangered Species Protection Agency | - | 1,000 |
| Get Kids Going | - | 1,000 |
| Give Directly | - | 1,000 |
| Kidney Research | - | 1,000 |
| Marine Conversation Society | - | 1,000 |
| Michael Sobel House Hospice | - | 1,000 |
| Missing people | - | 2,000 |
| National Kidney Federation | - | 1,000 |
| Silverline | - | 1,000 |
continued...
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The A & R Woolf Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 4. GRANTS PAYABLE - continued Surrey Wildlife Trust Young Lives vs Cancer Trinity Activities |
- - - 118,400 |
1,000 1,000 1,000 104,250 |
|---|---|---|
5. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Supporting good causes | Governance costs £ 3,828 |
| Support costs, included in the above, are as follows: Governance costs 5.4.25 Supporting good causes £ Independent Examiner's Fees 3,828 |
5.4.24 Total activities £ 2,070 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
7. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2024 Additions Disposals Revaluations At 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 |
Listed investments £ 3,646,034 4,151,546 (4,130,450) (242,106) 3,425,024 3,425,024 3,646,034 |
Cash and settlements pending £ 700,818 540,000 (652,521) - 588,297 588,297 700,818 |
Totals £ 4,346,852 4,691,546 (4,782,971) (242,106) 4,013,321 4,013,321 4,346,852 |
|---|---|---|---|
Investments held in the UK at a market value of £1,308,434 (2024: £1,308,434).
continued...
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The A & R Woolf Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
7. FIXED ASSET INVESTMENTS - continued
Investments held outside the UK at a market value of £3,038,418 (2024: £3,038,418).
The historical cost of the listed investments stated above would have been £2,948,937 (2024: £2,948,937).
Cost or valuation at 5 April 2025 is represented by:
| Valuation in 2025 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 127,331 TOTAL FUNDS 127,331 |
Listed investments £ 3,425,024 At 6.4.24 £ 4,378,955 4,378,955 Resources expended £ (162,874) (162,874) |
Cash and settlements pending £ 588,297 5.4.25 £ 38,110 5.4.25 £ 3,660 Net movement in funds £ (277,649) (277,649) Gains and losses £ (242,106) (242,106) |
Totals £ 4,013,321 5.4.24 £ - 5.4.24 £ 2,070 At 5.4.25 £ 4,101,306 4,101,306 Movement in funds £ (277,649) (277,649) |
|---|---|---|---|
continued...
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The A & R Woolf Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.23 £ 4,172,572 4,172,572 |
Net movement in funds £ 206,383 206,383 |
At 5.4.24 £ 4,378,955 4,378,955 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 90,779 90,779 |
Resources expended £ (147,921) (147,921) |
Gains and Movement losses in funds £ £ 263,525 206,383 263,525 206,383 |
|---|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2025 (2024: £Nil).
Page 12