Charity registration number 279161
SANDY DEWHIRST CHARITABLE TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SANDY DEWHIRST CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Yorke Joseph John Eaton |
|---|---|
| Timothy Charles Dewhirst | |
| Charity number | 279161 |
| Principal address | Addleshaw Goddard LLP |
| One St Peter's Square | |
| Manchester | |
| M2 3DE | |
| Independent Auditor | Hawsons Chartered Accountants |
| Statutory Auditors | |
| Pegasus House | |
| 463a Glossop Road | |
| Sheffield | |
| S10 2QD | |
| Bankers | HSBC |
| 33 Park Row | |
| Leeds | |
| West Yorkshire | |
| LS1 1LD | |
| Solicitors | Addleshaw Goddard LLP |
| One St Peter's Square | |
| Manchester | |
| M2 3DE | |
| Investment advisors | UBS Wealth Management |
| 1 Finsbury Avenue | |
| London | |
| EC2M 2AN |
SANDY DEWHIRST CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent auditor's report | 4 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 14 |
SANDY DEWHIRST CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their Annual Report on the affairs of the Sandy Dewhirst Charitable Trust (Charity), together with the financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 01 to the financial statements and comply with the Charity's trust deed, the Charities Act 2011 and "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
This is an unincorporated grant-making trust constituted by a trust deed dated 20 November 1979. Clause 12 (h) of the trust deed requires the trustees to have the financial statements audited yearly by a chartered accountant.
The objects of the trust are as follows:
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1 To relieve poor persons and in particular (but without in any way limiting the generality of the foregoing) persons who are or have been or shall from time to time be:
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(a) in the employment of I.J. Dewhirst Holdings Limited or any other company or other corporate body of which the Settlor shall have been a director for a period of not less than three years
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(b) employed on any farm owned by the Settlor whether as sole owner or in partnership with any other person or persons
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(c) otherwise in the employment of the Settlor or any wife of his
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(d) dependants of any such person as aforesaid whether or not such dependants shall be related or
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be or have been married to any such person and whether wholly or partly dependent upon or maintained by any such person
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2 for such other charitable purpose or charitable purposes as the trustees shall think fit.
PROVIDED ALWAYS that if at any time the trustees shall in their absolute discretion decide that the Trust Fund or the income thereof cannot usefully be applied in manner aforesaid then the trustees may pay and transfer the whole of the Trust Fund and the income thereof to such other charity or charities as they shall select.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Grant making policy
The trustees have identified a number of regional/local charities (including community groups and churches) to whom regular donations are made. The trustees also make donations to national charities whom they consider fit. The trustees review the grants made and appeals from organisations and individuals on an on-going basis.
Achievements and performance
Significant activities and achievements against objectives
The Charity has awarded grants of £66,880 (2023: £34,000) in the year to organisations in line with their objectives. Surplus funds continue to be invested with the aim of generating additional income to be used for grant making activities as outlined above. All grants awarded are in accordance with furthering the charitable objectives of the Charity.
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SANDY DEWHIRST CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
There are no restrictions on the charity's power to invest. The aim is to maintain the income yield and maintain the trust capital in real terms.
The income received in the year amounted to £45,871 (2023: £36,113) and funded grants and related costs of £101,240 (2023: £66,832). The reserves held at the year end total £1,811,481 (2023: £1,762,606). The trustees note that during the year reserves have increased by £48,875.
Going concern
After making enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future due to level of net assets. The Charity has no immediate requirement to use its investments and has minimal overheads and governance costs. The charitable objects are met through the making of donations which are agreed periodically throughout the year, are intended to match the income, and there are no on-going commitments to pay future donations. Accordingly they continue to adopt the going concern basis in preparing the financial statements.
Reserves policy
The policy of the trustees is to broadly maintain the charity's funds at such a level in order to provide sufficient capital growth and income to continue to meet the trustees' expected grant making objectives.
Major risks
The trustees are aware of the major strategic, business and operational risks which the charity faces. The funds have been invested with a view to protecting the capital value in real terms and maintaining the income yield. Additionally they verify the charitable status of all individuals and bodies to whom grants are made.
Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were: Yorke Joseph John Eaton Timothy Charles Dewhirst
On an annual basis, the trustees consider and approve donations to the charitable objects.
The Trust's capital is invested with UBS Wealth Management and invested mainly in stock markets. The trustees have delegated the day to day management of the trust funds to UBS Wealth Management.
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SANDY DEWHIRST CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees' responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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:
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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 (FRS102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 operation.
The trustees are responsible for keeping 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
The trustees' report was approved by the Board of Trustees and signed on its behalf by:
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.............................. .............................. Yorke Joseph John Eaton Timothy Charles Dewhirst Trustee Trustee 14/10/2025 Date: .............................................
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SANDY DEWHIRST CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF SANDY DEWHIRST CHARITABLE TRUST
Opinion
We have audited the financial statements of Sandy Dewhirst Charitable Trust (the ‘Charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, including the trustees report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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SANDY DEWHIRST CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SANDY DEWHIRST CHARITABLE TRUST
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and it's environment obtained in the course of the audit,we have not identified material misstatements set out in the trustee's report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of trustees' responsibilities on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or cease operations, or have no realistic alternative but to do so.
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SANDY DEWHIRST CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SANDY DEWHIRST CHARITABLE TRUST
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102 and the Charities Act 2011. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the charity’s result for the period, and management bias in key accounting estimates.
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SANDY DEWHIRST CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SANDY DEWHIRST CHARITABLE TRUST
Audit procedures performed by the engagement team included:
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Discussions with management and those responsible for legal compliance procedures within the charity to obtain an understanding of the legal and regulatory framework applicable to the charity and how the charity complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
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Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;
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Challenging assumptions and judgements made by management in their significant accounting estimates;
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Identifying and testing journal entries, in particular any journal entries posted with unusual account combination or posted by senior management.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils' website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Hawsons Chartered Accountants is eligible for appointment as auditor of the charity by virtue of its edibility for appointment as auditor of a company under section 121 of the Companies Act 2006.
Use of Our Report
This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matter we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Hawsons
Hawsons Chartered Accountants Statutory Auditor
17 October 2025
.........................
Pegasus House 463a Glossop Road Sheffield S10 2QD
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SANDY DEWHIRST CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | Unrestricted | Unrestricted | ||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2024 | 2023 | ||||
| Notes | £ | £ | |||
| Income from: | |||||
| Bank Interest | 2 | 1,970 | 4,050 | ||
| Investments | 3 | 43,901 | 32,063 | ||
| Total income | 45,871 | 36,113 | |||
| Expenditure on: | |||||
| Charitable activities | 4 | 101,240 | 66,832 | ||
| Total expenditure | 101,240 | 66,832 | |||
| Net gains/(losses) on investments | 7 | 104,244 | 110,969 | ||
| Net income and movement in funds | 48,875 | 80,250 | |||
| Reconciliation of funds: | |||||
| Fund balances at 1 January 2024 | 1,762,606 | 1,682,356 | |||
| Fund balances at 31 December 2024 | 1,811,481 | 1,762,606 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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SANDY DEWHIRST CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2024 | 2023 | 2023 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investments | 8 | 1,752,602 | 1,736,187 | ||
| Current assets | |||||
| Debtors | 9 | - | 1,325 | ||
| Cash at bank and in hand | 79,738 | 55,730 | |||
| 79,738 | 57,055 | ||||
| Creditors: amounts falling due within | 10 | ||||
| one year | (20,859) | (30,636) | |||
| Net current assets | 58,879 | 26,419 | |||
| Total assets less current liabilities | 1,811,481 | 1,762,606 | |||
| The funds of the Charity | |||||
| Unrestricted funds | 1,811,481 | 1,762,606 | |||
| 1,811,481 | 1,762,606 |
14/10/2025 The financial statements on page 8 to 14 were approved by the trustees on .........................and signed on their behalf by:
.............................. Yorke Joseph John Eaton
Trustee
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SANDY DEWHIRST CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Grants payable to third parties are made in the furtherance of the charitable objectives of the Charity. The trustees pay grants out of income and where the offer is conditional on the recipient satisfying performance or other discretionary requirements to the satisfaction of the trustees, such grants are recognised as expenditure when the conditions attaching are fulfilled.
Support costs comprise costs for the running of the charity itself, and processing grants to the applicants.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as incurred.
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SANDY DEWHIRST CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2 Income from charitable activities
| Unrestricted | Unrestricted | Unrestricted | Unrestricted | ||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank Interest | 1,970 | 4,050 | |||
| Income from investments | |||||
| Unrestricted | Unrestricted | ||||
| funds | funds | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Income from listed investments | 43,901 | 32,063 |
3 Income from investments
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SANDY DEWHIRST CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
4 Expenditure on charitable activities
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Direct costs | |||
| Legal Fees | 7,200 | 7,200 | |
| Audit Fee | 3,960 | 3,240 | |
| UBS - Management Fee | 17,100 | 16,342 | |
| Grants Made | 66,880 | 34,000 | |
| Secretarial Costs | 6,000 | 6,000 | |
| Bank Charges | 100 | 50 | |
| 101,240 | 66,832 | ||
| Analysis by fund | |||
| Unrestricted funds | 101,240 | 66,832 |
5 Grants payable
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Local/Regional Charities 2024 2023
Church Wardens of Watton £6,000 -
Love Driffield £3,000 £5,000
Kilham Playing Fields £5,000 £5,000
Hull Sea Cadets £1,000 £1,000
Driffield Cricket & Recreation Club £1,500 £1,500
Our Lady & St Edwards Church £5,000 -
Driffield Junior Football Club £30,000 -
Driffield Children's Outing Fund £1,500 -
Thwing & Octon Amenities Group £2,380 -
Driffield Agricultural Society £1,500 £3,000
Yorkshire Air Ambulance £3,500 £3,500
Yorkshire Cancer Research £1,000 -
Rudson Tennis Club - £2,000
Ryedale Learning Trust - £1,000
East Riding of Yorkshire - £1,500
National
Macmillan Cancer Support £500 -
Royal British Legion £1,000 £1,000
Salvation Army £1,500 £3,000
Bowel Cancer £1,000 -
Spinal Research - £2,500
Brain Research UK - £1,000
Army Benevolent Fund £1,500 £3,000
Total £66,880 £34,000
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SANDY DEWHIRST CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6 Staff Particulars
The Trust has no employees
7 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 91,621 | 101,061 |
| Sale of investments | 12,623 | 9,908 |
| 104,244 | 110,969 |
8 Fixed asset investments
| Listed | Listed | ||||
|---|---|---|---|---|---|
| investments | investments | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Valuation | |||||
| At 1 January 2024 | 1,736,187 | 1,575,281 | |||
| Additions | 402,801 | 454,898 | |||
| Disposals | (490,630) | (404,961) | |||
| Gains/(losses) | 104,244 | 110,969 | |||
| At 31 December 2024 | 1,752,602 | 1,736,187 | |||
| 9 | Debtors | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other debtors | - | 1,325 | |||
| 10 | Creditors: amounts falling due within one year | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Accruals | 20,859 | 30,636 |
11 Related party transactions
There was one related party transaction during the year.
£6,000 is included in the accruals at the balance sheet date for the cost of secretarial services for the year (2023: £6,000) paid in the first instance by TC Dewhirst, The payment due to TC Dewhirst represents reimbursement of this amount.
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SANDY DEWHIRST CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
12 Analysis of changes in net funds
The Charity had no material debt during the year.
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