06/11/24
| Unrestricted | Unrestricted | TotalFunds | TotalFunds | ||
|---|---|---|---|---|---|
| Note | Income | Capital | |||
| Fund | Fund | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| INCOMEfrom | |||||
| Investments | |||||
| -portfolioincome | 48,204 | 48,204 | 46,783 | ||
| -interest | 136 | 136 | 49 | ||
| TOTALINCOME | 48,340 | 48,340 | 46,832 | ||
| EXPENDITUREon | |||||
| Expenditureoncharitableactivities | 2 | 66,730 | 66,730 | 67,547 | |
| TOTALEXPENDITURE | 66,730 | 66,730 | 67,547 | ||
| NETEXPENDITUREbeforegains! | |||||
| (losses)oninvestments | (18,390) | (18,390) | (20,715) | ||
| Netgains/(losses)oninvestments | 4 | 129,222 | 129,222 | (104,005) | |
| NET(EXPENDITURE)/INCOME | (18,390) | 129,222 | 110,832 | (124,720) | |
| RECONCILIATIONOFFUNDS | |||||
| Totalfundsbroughtforward | 6 | 66,401 | 1,632,890 | 1,699,291 | 1,824,011 |
| Totalfundscarriedforward | 6 | 48,011 | 1,762,112 | 1,810,123 | 1,699,291 |
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXEDASSETS | |||||
| Investments | 4 | 1,759,275 | 1,630,034 | ||
| CURRENTASSETS | |||||
| Cashatbankandinhand | 55,698 | 73,640 | |||
| CREDITORS:Amountsfalling | |||||
| duewithinoneyear | 5 | 4,850 | 4,383 | ||
| Netcurrentassets | 50,848 | 69,257 | |||
| TOTALNETASSETS | 1,810,123 | 1,699,291 | |||
| FUNDS: | |||||
| Unrestrictedfunds: | |||||
| IncomeFund | 6 | 48,011 | 66,401 | ||
| CapitalFund | 6 | 1,762,112 | 1,632,890 | ||
| TOTALFUNDS | 1,810,123 | 1,699,291 |
| 2 | EXPENDITUREONCHARITABLEACTIVITIES | 2024 | 2023 |
|---|---|---|---|
£ |
£ |
||
| GRANTS | |||
| BrightonTableTennisClub | 5,000 | ||
| CharlestonFarmhouse | 5,000 | ||
| ConquestHospitalGardenRestoration | - | 6,000 | |
| DeLaWarrPavilionEducation | 1,000 | ||
| Dom'sFoodMission | 4,500 | ||
| FSNStLeonards | 3,950 | ||
| FriendsofWellCathedralOrganAppeal | - | 5,000 | |
| GarsingtonOpera | 2,000 | ||
| Glyndebourne | 2,100 | 6,300 | |
| GlyndebourneTouring | 290 | ||
| HastingsInternationalPianoConcertoCompetition | 7,000 | ||
| LittleGateFarm | 5,000 | ||
| MADFoundation | 2,000 | ||
| ORASingers | 2,500 | ||
| PallantHouseGallery | 5,000 | ||
| RotherRespondersfordefibrillators | - | 5,000 | |
| StBartholomew'sPCC | 1,200 | 1,200 | |
| StBartholomew'sChurchBurwash | - | 10,000 | |
| StMarytheVirginGreatMilton | 10,000 | ||
| SouthDownsNationalParkTrust | 5,000 | ||
| SussexCommunityDevelopmentAssociation | 8,000 | ||
| SussexDiocesanFamilySupportWork | - | 5,000 | |
| SussexHistoricChurchesTrust | - | 5,000 | |
| WarmUptheHomeless | 5,700 | ||
| 56,950 | 61,790 |
| 2 | EXPENDITUREONCHARITABLEACTIVITIES(continued) | 2024 | 2023 |
|---|---|---|---|
£ |
£ |
||
| ADMINISTRATIVECOSTS | |||
| Grantadministrationcosts | 1,180 | 398 | |
| Administrator | 5,000 | 1,375 | |
| Feespayabletotheindependentexaminerfor: | |||
| Accountancy fees | 1,620 | 1,380 | |
| Independentexaminationfees | 1,980 | 1,980 | |
| Legalandprofessional | 624 | ||
| 9,780 | 5,757 | ||
| TOTALEXPENDITUREONCHARITABLEACTIVIES | 66,730 | 67,547 |
| 4 | INVESTMENTS | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Marketvaluationat1April | 1,628,322 | 1,732,327 | |
| Netunrealisedgains/(losses)inyear | 129,222 | (104,005) | |
| Marketvaluationat31March | 1,757,544 | 1,628,322 | |
| Cashdeposits | 1,731 | 1,712 | |
| Totalinvestments | 1,759,275 | 1,630,034 | |
| Historicalcostat31March | 1,096,324 | 1,096,305 |
| PORTFOLIO: | 2024 | 2024 |
2023 | 2023 | |
|---|---|---|---|---|---|
| Cost | Marketvalue |
Cost | Marketvalue | ||
| £ | £ |
£ | £ | ||
| SarasinEndowmentsFund | 1,094,593 | 1,757,544 |
1,094,593 | 1,628,322 | |
| Cashdeposits | 1,731 | 1,731 |
1,712 | 1,712 | |
| 1,096,324 | 1,759,275 |
1,096,305 | 1,630,034 | ||
| 2024 | 2023 | ||||
| 5 | CREDITORS:Amountsfallingduewithinone | year | |||
| Accrualsandothercreditors | 4,850 | 4,383 |
| 2024 | 2023 | 2023 | |||
|---|---|---|---|---|---|
| 6 | FUNDS | Income | Capital | Income | Capital |
| Balanceat1April | 66,401 | 1,632,890 | 87,116 | 1,736,895 | |
| Income | 48,340 | 46,832 | |||
| Expenditure | (66,730) | (67,547) | |||
| Investmentmovements | 129,222 | (104,005) | |||
| Balanceat31March | 48,011 | 1,762,112 | 66,401 | 1,632,890 |
| 7 | ANALYSISOFNETASSETSBETWEENFUNDS | |||
|---|---|---|---|---|
| CURRENTYEAR-2024 | IncomeFund | CapitalFund | TotalFunds | |
| £ | £ | |||
| Investments | - | 1,759,275 | 1,759,275 | |
| Cashatbank | 52,861 | 2,837 | 55,698 | |
| Currentliabilities | (4,850) | (4,850) | ||
| 48,011 | 1,762,112 | 1,810,123 |
| PREVIOUSYEAR-2023 | IncomeFund | CapitalFund | TotalFunds |
|---|---|---|---|
| £ | £ | ||
| Investments | - | 1,630,034 | 1,630,034 |
| Cashatbank | 70,784 | 2,856 | 73,640 |
| Currentliabilities | (4,383) | (4,383) | |
| 66,401 | 1,632,890 | 1,699,291 |
06/11/24
| Unrestricted | Unrestricted | TotalFunds | TotalFunds | ||
|---|---|---|---|---|---|
| Note | Income | Capital | |||
| Fund | Fund | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| INCOMEfrom | |||||
| Investments | |||||
| -portfolioincome | 48,204 | 48,204 | 46,783 | ||
| -interest | 136 | 136 | 49 | ||
| TOTALINCOME | 48,340 | 48,340 | 46,832 | ||
| EXPENDITUREon | |||||
| Expenditureoncharitableactivities | 2 | 66,730 | 66,730 | 67,547 | |
| TOTALEXPENDITURE | 66,730 | 66,730 | 67,547 | ||
| NETEXPENDITUREbeforegains! | |||||
| (losses)oninvestments | (18,390) | (18,390) | (20,715) | ||
| Netgains/(losses)oninvestments | 4 | 129,222 | 129,222 | (104,005) | |
| NET(EXPENDITURE)/INCOME | (18,390) | 129,222 | 110,832 | (124,720) | |
| RECONCILIATIONOFFUNDS | |||||
| Totalfundsbroughtforward | 6 | 66,401 | 1,632,890 | 1,699,291 | 1,824,011 |
| Totalfundscarriedforward | 6 | 48,011 | 1,762,112 | 1,810,123 | 1,699,291 |
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXEDASSETS | |||||
| Investments | 4 | 1,759,275 | 1,630,034 | ||
| CURRENTASSETS | |||||
| Cashatbankandinhand | 55,698 | 73,640 | |||
| CREDITORS:Amountsfalling | |||||
| duewithinoneyear | 5 | 4,850 | 4,383 | ||
| Netcurrentassets | 50,848 | 69,257 | |||
| TOTALNETASSETS | 1,810,123 | 1,699,291 | |||
| FUNDS: | |||||
| Unrestrictedfunds: | |||||
| IncomeFund | 6 | 48,011 | 66,401 | ||
| CapitalFund | 6 | 1,762,112 | 1,632,890 | ||
| TOTALFUNDS | 1,810,123 | 1,699,291 |
| 2 | EXPENDITUREONCHARITABLEACTIVITIES | 2024 | 2023 |
|---|---|---|---|
£ |
£ |
||
| GRANTS | |||
| BrightonTableTennisClub | 5,000 | ||
| CharlestonFarmhouse | 5,000 | ||
| ConquestHospitalGardenRestoration | - | 6,000 | |
| DeLaWarrPavilionEducation | 1,000 | ||
| Dom'sFoodMission | 4,500 | ||
| FSNStLeonards | 3,950 | ||
| FriendsofWellCathedralOrganAppeal | - | 5,000 | |
| GarsingtonOpera | 2,000 | ||
| Glyndebourne | 2,100 | 6,300 | |
| GlyndebourneTouring | 290 | ||
| HastingsInternationalPianoConcertoCompetition | 7,000 | ||
| LittleGateFarm | 5,000 | ||
| MADFoundation | 2,000 | ||
| ORASingers | 2,500 | ||
| PallantHouseGallery | 5,000 | ||
| RotherRespondersfordefibrillators | - | 5,000 | |
| StBartholomew'sPCC | 1,200 | 1,200 | |
| StBartholomew'sChurchBurwash | - | 10,000 | |
| StMarytheVirginGreatMilton | 10,000 | ||
| SouthDownsNationalParkTrust | 5,000 | ||
| SussexCommunityDevelopmentAssociation | 8,000 | ||
| SussexDiocesanFamilySupportWork | - | 5,000 | |
| SussexHistoricChurchesTrust | - | 5,000 | |
| WarmUptheHomeless | 5,700 | ||
| 56,950 | 61,790 |
| 2 | EXPENDITUREONCHARITABLEACTIVITIES(continued) | 2024 | 2023 |
|---|---|---|---|
£ |
£ |
||
| ADMINISTRATIVECOSTS | |||
| Grantadministrationcosts | 1,180 | 398 | |
| Administrator | 5,000 | 1,375 | |
| Feespayabletotheindependentexaminerfor: | |||
| Accountancy fees | 1,620 | 1,380 | |
| Independentexaminationfees | 1,980 | 1,980 | |
| Legalandprofessional | 624 | ||
| 9,780 | 5,757 | ||
| TOTALEXPENDITUREONCHARITABLEACTIVIES | 66,730 | 67,547 |
| 4 | INVESTMENTS | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Marketvaluationat1April | 1,628,322 | 1,732,327 | |
| Netunrealisedgains/(losses)inyear | 129,222 | (104,005) | |
| Marketvaluationat31March | 1,757,544 | 1,628,322 | |
| Cashdeposits | 1,731 | 1,712 | |
| Totalinvestments | 1,759,275 | 1,630,034 | |
| Historicalcostat31March | 1,096,324 | 1,096,305 |
| PORTFOLIO: | 2024 | 2024 |
2023 | 2023 | |
|---|---|---|---|---|---|
| Cost | Marketvalue |
Cost | Marketvalue | ||
| £ | £ |
£ | £ | ||
| SarasinEndowmentsFund | 1,094,593 | 1,757,544 |
1,094,593 | 1,628,322 | |
| Cashdeposits | 1,731 | 1,731 |
1,712 | 1,712 | |
| 1,096,324 | 1,759,275 |
1,096,305 | 1,630,034 | ||
| 2024 | 2023 | ||||
| 5 | CREDITORS:Amountsfallingduewithinone | year | |||
| Accrualsandothercreditors | 4,850 | 4,383 |
| 2024 | 2023 | 2023 | |||
|---|---|---|---|---|---|
| 6 | FUNDS | Income | Capital | Income | Capital |
| Balanceat1April | 66,401 | 1,632,890 | 87,116 | 1,736,895 | |
| Income | 48,340 | 46,832 | |||
| Expenditure | (66,730) | (67,547) | |||
| Investmentmovements | 129,222 | (104,005) | |||
| Balanceat31March | 48,011 | 1,762,112 | 66,401 | 1,632,890 |
| 7 | ANALYSISOFNETASSETSBETWEENFUNDS | |||
|---|---|---|---|---|
| CURRENTYEAR-2024 | IncomeFund | CapitalFund | TotalFunds | |
| £ | £ | |||
| Investments | - | 1,759,275 | 1,759,275 | |
| Cashatbank | 52,861 | 2,837 | 55,698 | |
| Currentliabilities | (4,850) | (4,850) | ||
| 48,011 | 1,762,112 | 1,810,123 |
| PREVIOUSYEAR-2023 | IncomeFund | CapitalFund | TotalFunds |
|---|---|---|---|
| £ | £ | ||
| Investments | - | 1,630,034 | 1,630,034 |
| Cashatbank | 70,784 | 2,856 | 73,640 |
| Currentliabilities | (4,383) | (4,383) | |
| 66,401 | 1,632,890 | 1,699,291 |
ACCOUNTANT’S REPORT TO THE BOARD OF THE SPENCER WILLS TRUST ON THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
In order to assist you to fulfil your duties under the Companies Act 2006 and the Charities Act 2011 (“the Acts”) and regulations thereunder, we prepared for your approval the financial statements of The Spencer Wills Trust which comprise the Statement of Financial Activities, the Balance Sheet and the related notes in accordance with the financial reporting framework set out therein from the accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to The Spencer Wills Trust as a body, in accordance with the terms of our engagement letter dated 1 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of The Spencer Wills Trust and state those matters that we have agreed to state to them in accordance with ICAEW Technical Release 07/16 AAF. This report should not therefore be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against RSM UK Tax and Accounting Limited for any purpose or in any context. Any party other than the Trustees which obtains access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. To the fullest extent permitted by law, RSM UK Tax and Accounting Limited will accept no responsibility or liability in respect of this report to any other party and shall not be liable for any loss, damage or expense of whatsoever nature which is caused by any person’s reliance on representations in this report.
It is your duty to ensure that The Spencer Wills Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and funds movement of The Spencer Wills Trust under the Act 2011 (“the Acts”) and regulations thereunder.
We have not been instructed to carry out an audit or a review of the accounts of The Spencer Wills Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RSM UK Tax and Accounting Limited Chartered Accountants Portland 25 High Street Crawley West Sussex RH10 1BG
Date: 06/11/24