THE SANDELL TRUST istered Charlt Number 27 TRUSTEES, REPORT AND UNAUDrrED ACCO NT FOR THE YEAR ENDED 31 MARCH 2024 THE SANDELL TRUS CONTENTS PAGE Trusto•s roport Indepondent oxaminefs report Rocoipts and payments account statement of assets and Ilabllltles Notes to the accounts THE SANDELL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees presènt th8lr report and accounts for the year ended 31 March 2024 OBJECTIVES AND ACTIVITIES Under the temis of the Will of the Founder. the Trustees are obliged:. 'To pay or apply the inrA)me {of the Trust) to or for the benefit of the Wiltshire Archaeological and Natural History Society so long as such a Society shall remain independent of control by any public authority bul, rf it shall cease to be so independent, then upon trust to pay or apply the whole of (the assets of the Trust} for such charitable institutions or such other charitable objects in England es (the Trustees) may in their absc4ute discretion select- and I direct also that the decision of {the Trustees) as to whether or not the said Society shall be independenl as aforesaid shall be fin81 and binding on all persons and organisations interested in my Estate.. The Trustees consider that its activities comply with the Charity Commlsslons. general guidance on public bonefit. ACHIEVEMENTS AND PERFORMANCE The Trustees are satisfied with the results for the year as set out in th8 Flnanclal Review paragraph below. FINANCIAL REVIEW Throughoutthe yearto 31 March 2024 the assets of the Trust comprSsed cash in bank accounts with Barclays Bank PIC and a porttolio of investments managed for Ihe Trust8es by Brewin Dolphin Ltd. The investments of th8 Trust were managed in funds in accordance with the requirements of the Trustee Acl 2000. Over the year the value of the investments of the Trust increased from £1.068,001 to £1,137,524. During the year the Trustees paid to thè Wiltshire Archaeological and Natuial History Society £33,000. The Trustees, wlh assistan￿ from its investment managers. regularly revlew the risks lo which the charity's investment portfolio is exposed. It is Ihe policy of the Trustees to invesl in assels that produce Teasonable in¢ome levels whilst not subject to undue levels of risk. A diversrfied portfolio is maintained. STRUCTURE. GOVERNANCE AND MANAGEMENT The Sand811 Trust is registered as a charity with the Charity Commission under number 276879. The Trust was constituted by th8 Will oflhe Founder. Mr Richard Emery Sandell. who died on 10 July 1978. New Trustees are appointed by Deeds of Appointment following discussion b8tW6en the continuing Trustees as to who should be invited to be appointed. REFERENCE AND ADMINISTRATION Registered charity namo THE SANDELL TRUST Charity numbor 276879 Trustees Mr R. Cardirr (Chairl Mr J N D'Arcy MrARSims Dr J E Flood Prlnclpal addross Broadleas House Broadleas Park Devizes Willshire SN10 5JQ Independent examlnor David Owen & Co 17 The Market Place Devizes Wiltshire SN10 1BA Bankers Barclays Bank PIC 3 St John Street DevLzes Wittshire Solicilors stone King Sewell 13 Queen Square Bath BA1 2HJ Investment adviser Brewin Dolphin 12 Smithfield Street London EC1AgLA Sign8d on behalf of the Board of T stees Mr R Cardiff jchair of Twstees) Date: 4 September 2024 THE SANDELL TRUST Re Istered Charlt Nurnber 276879 INDEPENDENT EXAMINER'S REPORT I report on the acr￿UntS of the charily for the year ended 31 Mar¢h 2024, which are set out on pages 6-9. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees Consider thal an audit is not required for this year under section 14412> of the Charities Act 2011 (the 2011 Act) and that an ind8pendent examination is required. l am qualified to undertake Ihe examination by being a qualified member of the Institute of Chartered A¢¢ountants in England and Wales. Having satisfied myself thal the charity is not subject to audit and is eligible for independent examination, it is my responslblllty lo.. examine the accounts under section 145 of the 2011 Act.. lo follow the procedures laid down in the general DireGtions given by the Charity Commission under section 14515)(bl of the 2011 Act. and lo state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with the general dire¢tions given by the Charity Commission. An examination indudes a review of the accounling records kept by the charity and a comparison of the accounts presented with those records. It also indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees conceming any such matters. The procedu￿$ undertaken do not provide all the evidence that would be required in an audit, and Consequendy no opinion is given as lo whether the accounts present a 'lrue and fair view. and the rep¢Jrt is limited to those matters set out in the statament below. INDEPENDENT EXAMINER'S STATEMEMr In connection with my examination, matter has come to my attention: which gives me reasonable cause to believe that In any malerial respect the requirements- to keep accounting records in accordance with Section 130 of the 2011 Ad., and to prepare ac￿luntS which accord with the acc￿JntIng records and comply wilh the accounting requirements of the 2011 Act have not been met: or to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Joè Bunton ACA On behatf of: David Owen & Co Chartored Accountants and Reglstered Audltors 17 The Market Plac8 Devizes SN10 18A THE SANDELL TRUST Rè istered Charit Number 276879 RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 RECEIPTS Investment Portfolio Dividends and Interest Received DivÈdends and Interest Pending 32,454 3.197 37,434 3,566 Bank Inte￿$t Sale of Investments 219,216 279,183 Total Re¢eipts 254,867 320.183 PAYMENTS Per Schedule {page 7> 1259,988) (336,750) Excess of Receipts over Payments (5.1211 {16.567) Cash at Bank and on Deposit at 1 April 2023 21,583 38,150 Cash at Bank and on Deposit at 31 March 2024 16,462 21,583 THE SANDELL TRUST Istered Charlt Number 276879 R ENDED 31 MARCH RECEIPTS AND PA MENTS ACCO NT FOR 24 2024 2023 SCHEDULE OF PAYMENTS WANHS 33,000 33,000 AG¢ountsncy 1.200 Lègal 34,2C 33,864 Purchase of Investments & Portfolio Management Fees 225,788 302.886 Total Paymonts 259,988 336,750 THE SANDELL TRUST Re Istered Charl Number 276879 STATEMENT OF ASSEfs AND LIABILITIES AS AT 31 MARCH 2024 2024 2023 Cash Funds Barclays- Communlty AJC Brewn Dolphin - Dealing Alc Brewin Dolphin - Income Ajc Brewin Dolphin - Pending Al¢ 5,354 3.442 4.469 3.197 2.054 11,972 3,991 3.566 16,462 21,583 Investment Assets- Brewin Dolphin Portfolio Markel Value at 1 April 2023 Sales 1.068.001 {219.216) 1.138.831 1279.183) 848,785 219,408 859,648 295.130 Additions 1.068,193 69,331 1,154,778 (86,777) N8t {LossyGains on Disposal or R8valuation Market Value at 31 March 2024 1.137.524 1,068.001 1,153,986 1.089.584 Llabllltieg Therè were no matèrlal liabilities as at 31 March 2024 Approved by the Trustees on 4* Septsmber 2024 and signed on their behaff by: A R Sims (Trustee) THE SANDELL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED H 2024 ACCOUNTING POLICIES The accounts are prepared in accordance wth FRS102 The Financial Standards applicable in Ihe UK and Republic of Ireland, IFRS 102) 'Accounting and Reporting by Charities. the Statement of Recommended Practice for charities applying FRS102. the Charities Act 2011 And Generally Acceptsd Practice as it appliès from January 2015. The accounts have been prepared on a receipts and payments basis. Ihere are no accruals. The accounts have been prepared under the historical cost convention, as modified by the inclusion of investments at market value. The accounts compty with th8 Slatement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005, and the Charities Act 2011. INVESTMENT ASSETS The investment portfotw) is staled at market value as required by the Statement of Recommend Pra¢tiC8. The original cost of the inveslmenls VRS £975,048 (2023.. £970.202). RESTRICTED FUNDS All funds are regarded as Restricted. The potential use of the funds is set out in the Trustees. Report.