REGISTERED CHARITY NUMBER: 281018 Re ort of the Trustees and Unaudited Financial Statements forthe Year Ended 5 A ril 2025 for Thg Ed ar Milward Charit Bates Weston LLP Chartered Accountants The Mills Canal Street Derby DE1 2RJ
The Ed ar Milward Charit Contents of the Financial Statements for the Year Ended 5 A ril 2025 Page Report of the Trustees 1 103 Independent Examiner's Report Form CC16A 5t06
The Ed ar Milward Charit ort of the Trustees forthe Year Ended 5 A ril 2025 The Iruslees present their report for the year ended 5 April 2025. The Iruslees during the year were.. Mrs J C Austin {Ch8irmanl A S Fogwill Icorresponding Secretary} S M W Fogwill Mrs F Palelhorpe IACAI (Secretary and Treasurer) Mrs E M Smuts Mrs M V Roberts Mrs I C Howlell The Charity was established as The Edgar Milward Charity by a trust deed dated 29 April 1980 and is registered with the Charity Commission {number 2810181. The Charity's address is.. The Corresponding Secretary.. Mr A S Fogwill 53 Brook Drive Corsham Wiltshire SN13 9AX Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME194JQ Investment Managers- Redmayne-Benlley LLP Market Place House 43 Market Place Henley-on-Thames RG9 2AA Independent Examiner: Wayne Thomas FCA Bates Weston Audit Limited Slalulory Auditors Chartered Accountants The Mills Canal Street Derby DE12RJ Page 1
The trustees confirm that the Iruslees. annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. Structure, Governance and Management By the trust deed of 29 April 1980 Alfred Edgar Milward settled investrnents on the charitable trusts outlined below. Alfred Edgar Milward died in 1986 and bequeathed the residue of his estste lo the trustees of the Charity, to be administered in accordance with the trust deed. The trust deed has been updated by a supplemental declaration of trust dated 17 November 2009. Trustees The Charity is managed by the trustees themselves who meet lce a year. They are responsible for appointing any new Iruslees.11 is the policy that one Iruslee shall be independent, preferably a chartered accountant or solicitor. Except for the independent trustee, new Iruslees normally have a direct or indirect family link lo the selllor and are pul forward for appointment following consultation between the trustees and an interview with the chairman. New Iruslees are provided with copies of the trust deed, previous financial statements and other relevant documentation together with copies of appropriate Charity Commission publications. Risk The Charity has appropriate operating systems and, apart from the risks associated with stock market investment, the trustees do not consider that the Charity has any major risk exposure. Objgctives and Activities Distribution Under the terms of the deed, the Iruslees hold the capital and income on trust to apply the income of the Charity as il arises lor within a reasonable time Ihereafterl as follows.. al One half for the furtherance of the Christian religion within the United Kingdom and throughout the world. bl Four-lenlhs for such charitable purposes as the trLJStees shall think fit. cl One-tenth for edLJcalional purposes within a radius of 15 miles from the Civic Centre, Reading. The Iruslees have, in any financial year, discretion to apply the income of one of the classes for the benefit of another if they deem it fit to do so, provided that such discretion sh811 not be exercised in favour of class 81 and class bl above for more than two successive years in any four-year period. The trust deed requires The Edgar Milward Charity lo distribute all its income as it arises. Grants are normally decided in advance al meetings of the Iruslees held half yearly and are paid as cash flow permits. The Charity's grant making policy is lo support a limited number of causes known to the trustees, particularly those supported by the selllor. Unsolicited applications are not nomally considered. The Iruslees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and selling the grant making policy for the year. The Iruslees have sought lo benefit the public through a range of grants lo charitable causes within the conditions of the trust deed. A number of the recipients were supported by the selllor and the trustees have endeavoured to encourage the spread of Christianity and to meet different human needs in a variety of practical ways. The Charity does not undertake fund raising activities. Page 2
Investments The trustees have power to invest in any stocks, funds or securities or investments for the lime being authorised by law for trustees for the investment of trust funds, including the purchase of freehold or leasehold land having an unexpired term of al least fity years. Under authority obtained from the Charity Commissioners for England and Wales by order under section 105 of the Charities Act 2011, the Iruslees have appointed Redmayne-Benlley with discretionary powers in relation to the management of the Charity's investments. The Charity's investment policy seeks lo achieve a balanced return from income and capital appreciation and to maintain the value of the income stream in real temis whilst controlling the level of risk. Investment performance is monitored at the regular half yearly meetings of trustees which are attended by the investment managers. In the light of current m8rkel conditions, perfomiance during the year under review is considered satisfactory. Flnanclal Revlew Incoming resources have increased during the year. Total income from investments has increased to £65,84012024'. £60,260). Grants made during the year have increased to £64,10912024.' £51,295). Al the year end, there is £56,914 in cash reseNes, of which £56,914 is reslricled. statement of Trustees. Responsibilities The Iruslees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and regulations. The Charities Act 2011 requires the Iruslees lo prepare financial statements for each financial year. The Iruslees have lo prepare the financial slalemenls in accordance with United Kingdom Generally ACpted Accounting Practice (United Kingdom Accounting Standards and applicable lawl, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The trLJStees musl 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 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 IFRS 1021., make judgements and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements., prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Charity will continue in operation. The Iruslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure that the financial stslemenls 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. On behalf of the trustees J C Austin Chairman 0210612025 Page 3
Inde endent Examiner's Re ort to the Trustees of The Ed ar Milward Charit Independent Examiner's Report to the Trustees of The Edgar Milward Charity I report to the charity Iruslees on my examination of the accoLJnts of the Edgar Milward Charity (the Charity) for the year ended 5 April 2025. Responsibilities and basis of report As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material mallers have come lo my attention in connects'on with the examination giving me cause to believe that in any material respect.. a¢UntIng records were not kept in respect of the Charity as required by section 130 of the Act., or the accounts do not accord with those records., or 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 'lrue 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 lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Wayne Thornas FCA Institute of Chartered Accountsnts in England and Wales Bates Weston LLP Chartered Accountsnts The Mills Canal Street Derby DE12RJ Date.. 09 106 12025 Page 4
CHARIYY COMfiAISSIO TrOR &NGLAf40 ANO WE4LES The EgdaT MilwaTd Charity 281018 Receipts and payments accounts CC16a For the perlod from 0610412024 0510412025 Section A Receipts and payments Unrestricted funds Restricted funds Endowment fund5 Total funds Last year to th8 ngarfj$t to thg ngarg¥t£ toth8 nfjar8$t t to thg ngJrfj8¢£ to Ihg ngJrfj8¢£ A1 Receipts Inierest and dividends on quoted Inv 64,252 1,588 64,252 1,588 $8,642 Sub totsl(Gross inwmg forAR) A2 Asset and Investment sales, (see tablel. 65.340 65.B40 fj0.26Q Quoted InveSents 180,3S2 180,352 69,520 Sub total 180.352 18fj.352 69,52Q 65.840 180,352 241,192 129,780 A3Pa men15 InveSent manager's fees Admini$tr£tive expenSE5 2,124 389 1,320 64,109 4,347 fjN71 389 1,320 64,109 5,522 96 1.260 Sl,29S Grants during the year Sub total 67,942 4,347 72,289 $8,173 A4 Asset and investment purchases, (see table ou0d Invesents 193,160 193,16Q 70,fj4fy Sub total 193,160 193,16Q 70,64Tr 67,942 197,507 265.449 128,813 Net of receipts/(payments) A5 Transfers b8tsveen funds A6 Cash funds last year end Cash funds Ihis yèar end 2,102 17,155 19,2S7 967 26,223 24,121 49,948 32,793 76,171 56,914 75,204 76,171 Page 5
Section B Statement of assets and liabilities at the end of the period UnrestTlCted funds lo nearest £ Restricted funds to nearest£ Endowment funds to nearest£ ¢ategorle$ Detalls B1 Cash funds CAF BBnk 23,722 COIF Chanties deposit 399 Redmae-BenIieY deposit 11.67S Total cash funds 24,121 32,793 eccourtlsl UnStrICted funds lo nearest £ Re$trl¢ted funds to nearest£ Endowment funds to nearest£ Details Fnd to whlch S5Et belon 8ndo¥vm8nt CuThent value Det3ils Quoted Inve$tmÈnts Cost loptionall 1,320,098 B3 Investrnent a55ets 1,489,432 Fund to whlch SYEt belon * Culrentvalue Detai15 Colt (Dptionall B4 Assets rètained for the charity's own use Fynd to which lates Amount dug Wh8n dvfj Details 85 LlabllStles Signed by one ort4VO trustee5 on behalf of 811 the Iruslees Date of roval Signature Print Name J ¢ I4UStin 0210612025 F Pèlethtswt 0210612025 Page 6