Annual Report and Financial Statements for the Year Ended 31 December 2024
## The Arkleton Trust
Charity registration number: 275153
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **THE ARKLETON TRUST**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 14|
## **THE ARKLETON TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Trustees** Miss C A Higgs Mr S Evison Mr C Madine Mrs E Knott Mr B Peacocke Mrs C Allen **Charity Registration** 275153 **Number**
**Principal Office** The Dower House Litchfield Farm Enstone Oxon OX7 4HH **Independent Examiner** G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ
Page 1
## **THE ARKLETON TRUST**
## **TRUSTEES' REPORT**
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
## **Objectives and activities**
## _**Objects and aims**_
The principal object of the charity is to advance education for the public benefit in the development of new methods and techniques directed towards the alleviation of poverty in rural areas and the impact of environmental and social factors upon poverty and other social problems common in rural areas.
## _**Public benefit**_
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Review of activities**_
The Trustees met online for their AGM in July 2024 and in this meeting welcomed a new Chair of the Board of Trustees, Emma Stewart-Wood, as Caroline Higgs retired from the role.
The Trustees reviewed current asset management. Having assessed the risk, the Trustees are satisfied that the charity's assets are available and adequate to fulfil its obligations. It is the policy of the Trust to continue to invest fund balances with CAF, M&G Charibond Charities Fixed Interest Common Investment Funds and M&G Equities Investment Fund for Charities (Charifund).
The David Moore awards were not separately awarded this year. These funds (including capital) being available for use by the Trust in any way as long as it was in accordance with the initial sentiments of the awards.
It was confirmed that a review of governance and policy documents for the Trust would be initiated, with the last review having taken place in 2020.
The Trustees continued discussions regarding the next steps for the Trust. In August 2024, an in person meeting was held in Oxford, with a focus on planning activities around the strengthening of change makers, and what needs to be in place to share knowledge at a grass roots level. Additionally, questions around how to facilitate capacity in compliance and governance within grassroots organisations are guiding the development of future plans.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 2
## **THE ARKLETON TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## **Structure, governance and management**
## _**Nature of governing document**_
The Arkleton Trust is a registered charity, number 275153, and is constituted under a Trust deed adopted on 23 January 1978.
## _**Recruitment and appointment of Trustees**_
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
The Trustees look for persons of proven integrity who share the vision and objectives of the charity and who have relevant wisdom and experience to contribute to the running of the Trust.
## _**Induction and training of trustees**_
Each new Trustee is provided with the relevant Charity Commission publications. a copy of the Trust deed and relevant information from the Charity Commission relating to the duties of trustees.
Miss C A Higgs is also a Trustee of the Walter Higgs Trust.
## _**Risk management**_
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 3
## **THE ARKLETON TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## **Statement of Responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees 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.
The annual report was approved by the Trustees of the charity on 29 April 2025 and signed on its behalf by:
## Emma Knott
......................................... Mrs E Knott Trustee
Page 4
## **THE ARKLETON TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARKLETON TRUST**
I report to the Trustees on my examination of the accounts of The Arkleton Trust for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity Trustees of The Arkleton 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 The Arkleton Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of The Arkleton Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
29 April 2025
Page 5
## **THE ARKLETON TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
15,000
Investment income
3
22,722
Total income
37,722
**Expenditure on:**
Charitable activities
4
(1,618)
Total expenditure
(1,618)
Gains/losses on
investment assets
7,011
Net income
43,115
Net movement in funds
43,115
**Reconciliation of funds**
Total funds brought
forward
481,989
Total funds carried
forward
9
525,104|**Restricted**
**funds**
**£**
-
687
687
-
-
(553)
134
134
19,496
19,630|**Total**
**2024**
**£**
15,000
23,409
38,409
(1,618)
(1,618)
6,458
43,249
43,249
501,485
544,734|**Total**
**2023**
**£**
15,000
21,009|
|---|---|---|---|
||||36,009|
||||(4,059)|
||||(4,059)|
||||(6,155)|
||||25,795|
||||25,795
475,691|
||||501,486|
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
## **THE ARKLETON TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Current assets**
Investments
7
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
8
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
9|**2024**
**£**
335,843
209,771
545,614
(880)
544,734
19,630
525,104
544,734|**2023**
**£**
329,385
172,981|
|---|---|---|
|||502,366
(880)|
|||501,486|
|||19,496
481,990|
|||501,486|
The financial statements on pages 6 to 14 were approved by the Trustees, and authorised for issue on 29 April 2025 and signed on their behalf by:
## Emma Knott
......................................... Mrs E Knott Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
The Arkleton Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 8
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Current asset investments**
Current asset investments are included at the lower of cost and net realisable value / market value.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the Trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 9
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2 Income from donations and legacies**
|Grants, including capital grants;
Grants|**Unrestricted**
**funds**
**General**
**£**
15,000
15,000|**Total**
**2024**
**£**
15,000
15,000|**Total**
**2023**
**£**
15,000|
|---|---|---|---|
||||15,000|
## **3 Investment income**
|**Unrestricted funds**
**Designated**
**£**
**General**
**£**
Interest receivable and
similar income;
Interest receivable on
bank deposits
3,304
103
Other income from
current asset
investments
19,315
-
22,619
103|**Restricted**
**funds**
**£**
-
687
687|**Total**
**2024**
**£**
3,407
20,002
23,409|**Total**
**2023**
**£**
2,210
18,799|
|---|---|---|---|
||||21,009|
Page 10
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
## **4 Expenditure on charitable activities**
|**Note**
Administrative and secretarial
support
Bank charges
AGM costs
Independent examination
Grant funding of activities
5|**Unrestricted**
**funds**
**General**
**£**
331
60
267
960
-
1,618|**Total**
**2024**
**£**
331
60
267
960
-
1,618|**Total**
**2023**
**£**
280
60
-
930
2,789|
|---|---|---|---|
||||4,059|
## **5 Analysis of grants**
|**5 Analysis of grants**|||
|---|---|---|
|Grants to institutions|**Total**
**2024**
**£**
-
-|**Total**
**2023**
**£**
2,789|
|||2,789|
## **6 Trustees remuneration and expenses**
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **7 Current asset investments**
|**7 Current asset investments**|||
|---|---|---|
|Unlisted investments (liquid)
**8 Creditors: amounts falling due within one year**
Accruals|**2024**
**£**
335,843
**2024**
**£**
880|**2023**
**£**
329,385|
|||**2023**
**£**
880|
Page 11
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
## **9 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Bernard Conyers
Fund
Sir John Higgs
Fellowship Fund
**Total**
**unrestricted**
**funds**
**Restricted funds**
David Moore
Memorial Fund
**Total funds**|**Balance at**
**1 January**
**2024**
**£**
42,410
284,960
154,619
439,579
481,989
19,496
19,496
501,485|**Incoming**
**resources**
**£**
15,103
15,059
7,560
22,619
37,722
687
687
38,409|**Resources**
**expended**
**£**
(1,618)
-
-
-
(1,618)
-
-
(1,618)|**Other**
**recognised**
**gains/**
**(losses)**
**£**
-
4,490
2,521
7,011
7,011
(553)
(553)
6,458|**Balance at**
**31**
**December**
**2024**
**£**
55,895
304,509
164,700|
|---|---|---|---|---|---|
||||||469,209|
||||||525,104|
||||||19,630|
||||||19,630|
||||||544,734|
Page 12
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Bernard Conyers
Fund
Sir John Higgs
Fellowship Fund
**Total**
**unrestricted**
**funds**
**Restricted funds**
David Moore
Memorial Fund
**Total funds**|**Balance at**
**1 January**
**2023**
**£**
31,394
275,521
150,176
425,697
457,091
18,600
18,600
475,691|**Incoming**
**resources**
**£**
15,076
13,601
6,771
20,372
35,448
561
561
36,009|**Resources**
**expended**
**£**
(4,059)
-
-
-
(4,059)
-
-
(4,059)|**Other**
**recognised**
**gains/**
**(losses)**
**£**
-
(4,162)
(2,328)
(6,490)
(6,490)
335
335
(6,155)|**Balance at**
**31**
**December**
**2023**
**£**
42,411
284,960
154,619|
|---|---|---|---|---|---|
||||||439,579|
||||||481,990|
||||||19,496|
||||||19,496|
||||||501,486|
Page 13
## **THE ARKLETON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)**
## **10 Analysis of net assets between funds**
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
56,775
469,209
(880)
-
55,895
469,209
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
43,291
439,579
(880)
-
42,411
439,579|**Restricted**
**funds**
**£**
19,630
-
19,630
**Restricted**
**funds**
**£**
19,496
-
19,496|**Total funds**
**at 31**
**December**
**2024**
**£**
545,614
(880)|
|---|---|---|---|
||||544,734|
||||**Total funds**
**at 31**
**December**
**2023**
**£**
502,366
(880)|
||||501,486|
Page 14