Charity Registration Number - 283322
A W Charitable Trust
Report and Accounts
30 June 2023
B Olsberg & Co Chartered Accountants & Statutory Auditor Enterprise House 3 Middleton Road Manchester M8 5DT
A W Charitable Trust
Report and accounts for the year ended 30 June 2023
Contents
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' Annual Report | 1 |
| Statement of directors' responsibilities | 8 |
| Independent Auditors' Report | 10 |
| Funds Statements:- | |
| Statement of Financial Activities | 14 |
| Statement of total recognised gains and losses | 15 |
| Movements in funds | 16 |
| Revaluation reserves | 16 |
| Revenue Funds | 16 |
| Summary of funds | 16 |
| Income and Expenditure account | 17 |
| Balance sheet | 18 |
| Cash flow statement | 20 |
| Notes to the accounts | 23 |
A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
The Trustees present their Report and Accounts for the year ended 30 June 2023.
Reference and administrative details
The charity name.
The legal name of the charity is:- A W Charitable Trust.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 283322.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as an unincorporated charity, established by Trust Deed. The governing document of the charity is the Trust Deed establishing the charity.
The governing document is dated 01 August 1981 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
The Registered Address is at:-
1 Allandale Court, Waterpark Road, Salford, Manchester, M7 4JL
The Trustees in office on the date the report was approved were:-
A Weis S Weis Mrs R Weis
The following persons served as Trustees during the year ended 30 June 2023 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The trustees wish to support all worthy orthodox Jewish causes and the Charity achieves its objects by making grants and distributing mainly to Jewish education and religious organisations.
The charity’s objects and its principal activities are:
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To advance education and religion in accordance with the doctrines and principles of Orthodox Judaism.
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To relieve poverty and carry out other charitable purposes.
The charity is organised so that the trustees meet regularly to manage its affairs. The charity does not employ any staff or use voluntary assistance. Administration of the charity is dealt with by the trustees.
The main activities undertaken in relation to those purposes during the year.
The charity received rental income and interest which enabled it to make substantial distributions.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The trustees have referred to the guidance contained in the charity commissioners general guidance on public benefit when reviewing the trust’s aims and objectives, and in planning future activities and setting the grant policy for the year.
Within these objects, the trustees' aim is to play its part in the dissemination of the teachings, knowledge and practice of the Jewish religion and to relieve suffering as a result of health and poverty in the Jewish community.
Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.
The policy is to assist in the furtherance of Jewish education and religion, relieve poverty assist with those in need of medical help and to alleviate hardship wherever possible. All applications and requests are considered on their own merit.
The main achievements and performance of the charity during the year.
The Statement of Financial Activities shows a total income of £21,856,967, grants made of £16,858,292 and Support Costs of £3,008,151,
resulting in a surplus for the year as detailed below.
Funds available are sufficient to permit the charity to continue in operation and continue making charitable grants in line with its grant making policies.
Grants were reduced this year as the trustees decided to reduce their exposure to the banks by paying off various large loans.
It is hoped to increase grants payable, to previous levels, in due course.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
The difference the charity's performance during the year has made to the beneficiaries of the charity and
the degree to which the achievements and performance during the year have benefited wider society.
Funds have been paid to many recipients and accordingly the performance of the charity has benefitted many beneficiaries.
The significant charitable activities undertaken in the year.
The significant activity of the charity during the year was the payment of charitable grants, based on the needs of beneficiaries.
How the achievements during the year measure up to the objectives set.
The Charity has achieved its objectives during the year.
Investment performance against the investment objectives.
The investments have continued to perform in line with expectations.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The structure of the Charity consists of three trustees. The board of trustees is authorised to appoint new trustees where appropriate.
Most trustees on appointment are already familiar with the practical work of the charity. Newly appointed trustees receive necessary tuition from existing trustees and are given access to Charity Commission publications.
Group Structure and Relationships
The Charity has two wholly owned non-charitable subsidiaries, Barnsfold Limited and Torland Limited, whose activities and trading performance are disclosed in the notes to the financial statements.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
The charity's relationships with related parties.
In addition to the subsidiaries mentioned above, the Charity has business relationships with its trustees and those close to one of them, as Managing Agents and also in connection with loans owed to and from them. These are as listed in the notes.
The trustees' bankers and advisors
Bankers HSBC Coventry and Santander, London. Solicitors Fladgate LLP, London WC2B 5DE Auditors B Olsberg & Co. Chartered Accountants, Manchester M8 5DT
Financial review
The charity's financial position at the end of the year ended 30 June 2023
The financial position of the charity at 30 June 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Trust capital Total Unrestricted Funds Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Unrestricted revaluation reserve Net income |
2023 £ 1,967,990 10 223,389,000 52,870,626 276,259,626 276,259,636 |
2022 £ 8,513,086 10 221,421,010 66,588,647 288,009,657 288,009,667 |
|---|---|---|
Financial review of the position at the reporting date, 30 June 2023 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Specific changes in fixed assets are detailed in the notes to the accounts.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
Policies on reserves.
The trustees intend to maintain a high level of distributions from income and to also retain reserves for the repayment of loans and unforeseen contingencies.
Going Concern
The trustees are satisfied that the Charity is a going concern. There are sufficient assets to pay off its liabilities and continue its activities for the forseeable future.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in the fund are available and adequate to fulfil its obligations in respect of the fund.
Investment policy and investment objectives.
Under the trust deed the charity has the power to make any investment which the trustees see fit. The trustees are constantly seeking investment opportunities to assist the trust in achieving its objectives.
The risks to which the Charity is exposed and reviews and systems to mitigate them.
The risks to which the charity is exposed largely center around the sustainability of rental income and thereby maintaining capital values. The trustees actively review the risks which the charity faces on a regular basis and believe that maintaining reserves at current levels combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate any significant risks. They consider that property investment is suitable to attain the object of the charity and that the charity is not exposed to any foreseeable risk in connection with their activities.
Factors likely to affect future financial performance .
There are no known factors, likely to affect future performance.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
Plans For the Future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
The trustee's plans are to continue receiving donations and income from investments and make distributions as in previous years.
Details of The Auditor
B Olsberg & Co
Chartered Accountants & Statutory Auditors
Enterprise House 3 Middleton Road Manchester M8 5DT
Statement as to disclosure of information to auditors
The trustees state that so far as each of the trustees at the time this report was approved are aware:-
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a) There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and
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b) The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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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 business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material
departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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 are also responsible for the contents of the Trustees' report, and the statutory responsibility of the auditor in relation to the Trustees' report is limited to examining the report and ensuring that , the report is consistent with the figures disclosed in the financial statements.
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A W Charitable Trust
Trustees' Annual Report for the year ended 30 June 2023
This report was approved by the board of trustees on 19 April 2024.
A Weis Trustee
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A W Charitable Trust
Independent Auditors' Report to the Trustees of the charity on the consolidated group accounts for the year ended 30 June 2023
Introduction
We have audited the consolidated financial statements of A W Charitable Trust for the year ended 30 June 2023, as set out on pages 14 to 32, which comprise the Statement of Financial Activities, the Income and Expenditure Account, the Statement of Recognised Gains and Losses , the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charitable group are prepared, in all material respects, in accordance with charity law applicable within the jurisdiction of England & Wales and, in particular, the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out on page 23, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
Limitation of liability
This report is made solely to the Trustees of the charitable group, as a body, in accordance with the requirements of Section 154 of the Charities Act 2011 (The Act). Our work has been undertaken so that we might state to the Trustees those matters 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 liability or responsibility to anyone other than the Trustees as a body, for our work, for this report or for the opinions we have formed.
Basis for our opinion
We have been appointed as auditors under section 144(2) of The Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (ISAs-UK), issued by the Financial Reporting Council, and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 England & Wales, 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.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
As described on page 8, you, the charitable group's Trustees, are responsible for the preparation of the consolidated financial statements for the charitable group in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practiceand for being satisfied that the financial statements give a true and fair view.
The Trustees,who are charged with governance, are responsible for overseeing the charitable group’s financial reporting process.
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A W Charitable Trust
Management is responsible for the preparation of the financial statements in accordance with charity law of the jurisdiction of England & Wales and for such internal control as management determines 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, management is 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 management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated 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.
Our responsibility is to audit and express an opinion on the consolidated financial statements in accordance with relevant legal and regulatory requirements and ISAs-UK. Those standards require us to comply with the Ethical Standards for Auditors published by the Financial Reporting Council and to:-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, to design and perform audit procedures responsive to those risks and to obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion;
To obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate for the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control;
To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the charity;
To conclude on the appropriateness of the charity's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern;
To evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves a fair presentation.
Obtain sufficient appropriate evidence regarding the financial information of the entities or business activities within the group to express an opinion on the group financial statements;
We are required to report to the Trustees our opinion as to whether the consolidated financial statements give a true and fair view and have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Charities (Accounts and Reports) Regulations 2008.
We are also required to report to you if, in our opinion, the Trustees' Annual Report is materially inconsistent with the financial statements, if the charity has not kept adequate accounting records, if the charity’s financial statements are not in agreement with the accounting records and returns, or if we have not received all the information and explanations we require for our audit, or if information specified by law regarding Trustees' remuneration and transactions with the charity is not disclosed.
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A W Charitable Trust
In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
We conducted our audit in accordance with ISAs-UK and in accordance with the Practice Note ' The Audit of Charities in the United Kingdom' , revised in March 2012.
We are required to plan and perform our audit so as to meet the above requirements and to obtain all the information and explanations which we consider necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error.
In the course of our audit, we communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit.
Assistance with accountancy and tax matters
In accordance with the exemption provided by APB Ethical Standard – Provisions Available for Smaller Entities, we have prepared and submitted the charity’s returns to the tax authorities and assisted with the preparation of the accounts.
Eligibilty of auditor and status of audit
We confirm that we are eligible under section 144(2) of the Charities Act 2011 to conduct this audit, and that this report is a report in respect of an audit carried out under the Act and in accordance with the related regulations.
Attention is drawn to the accounting policy stating that, notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, and in order to accord with current best practice, the Trustees have determined to prepare the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . We concur with this approach, and any references in our report to the regulations should be read subject to this comment.
Opinion on the Financial Statements
In accordance with Regulations 25(g) and (h) of the Charities (Accounts and Reports) Regulations 2008, in our opinion the charity's financial statements:
Give a true and fair view of the state of affairs of the charitable group as at 30 June 2023 and of its Income and Expenditure for the financial year then ended and, in particular, the financial statements have been properly prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice applicable to entities of its size and have been properly prepared in accordance with the requirements of the Charities Act 2011; and
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A W Charitable Trust
have been prepared in accordance with the methods and principles required by the FRS102 Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission in England & Wales (CCEW) , effective January 2015 (The SORP), and those methods and principles have been followed.
Matters upon which we are required to report by exception
We have nothing to report in respect of the following matters where the law requires us to report to you, if in our opinion:
the charitable group has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
if information specified by law regarding Trustees' remuneration and transactions with the charity is not disclosed.
we have not received all the information and explanations we require for our audit.
Signed:-
B Olsberg & Co
Chartered Accountants & Statutory Auditors Enterprise House 3 Middleton Road Manchester M8 5DT
This report was signed on 19 April 2024
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A W Charitable Trust - Consolidated Statement of Financial Activities for the year ended 30 June 2023
Consolidated Statement of Financial Activities for the year ended 30 June 2023
| Income & Endowments from: Donations & Legacies Investments Other Total income Expenditure on: Charitable activities Tax on surplus on ordinary activities Total expenditure Net income for the year Net income after transfers Reconciliation of funds:- Revaluation on investments 18 Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted Funds 2023 £ 3,995,000 17,859,850 2,117 21,856,967 19,887,111 1,866 19,888,977 1,967,990 1,967,990 1,967,990 (13,718,021) 288,009,667 276,259,636 |
Current year Restricted Funds 2023 £ - - - - - - - - - - - - - |
Current year Total Funds 2023 £ 3,995,000 17,859,850 2,117 21,856,967 19,887,111 1,866 19,888,977 1,967,990 1,967,990 1,967,990 (13,718,021) 288,009,667 276,259,636 |
Prior Year Total Funds 2022 £ - 16,010,376 299 16,010,675 7,497,589 - 7,497,589 8,513,086 8,513,086 8,513,086 (17,639,852) 297,136,433 288,009,667 |
|---|---|---|---|---|
As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All activities derive from continuing operations
The net income stated above is made up as follows:
| Charity Subsidiaries Group Total |
1,959,854 8,136 1,967,990 |
- - - |
1,959,854 8,136 1,967,990 |
8,518,065 (4,979) 8,513,086 |
|---|---|---|---|---|
The notes attached on pages 23 to 32 form an integral part of these accounts.
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A W Charitable Trust - Consolidated Statement of Financial Activities for the year ended 30 June 2023
Consolidated Statement of Total Recognised Gains and Losses for the year ended 30 June 2023
| Surplus for the year :- Income from operations before tax in the Statement of Financial Activites Net Movement in funds before taxation Taxation arising in the year Funds generated in the year as shown on Statement of Financial Activities Net excess of income over expenditure from operations before tax |
2023 £ 1,969,856 1,969,856 1,969,856 (1,866) 1,967,990 |
2022 £ 8,513,086 8,513,086 8,513,086 - 8,513,086 |
|---|---|---|
The notes attached on pages 23 to 32 form an integral part of these accounts.
A W Charitable Trust - Group Resources available in the year ended 30 June 2023 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2023 £ 1,967,990 1,967,990 |
2022 £ 8,513,086 8,513,086 |
|---|---|---|
The notes attached on pages 23 to 32 form an integral part of these accounts.
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A W Charitable Trust - Consolidated Statement of Financial Activities for the year ended 30 June 2023
Consolidated movements in revenue and capital funds for the year ended 30 June 2023
Revenue accumulated funds
| Unrestricted Funds 2023 £ Accumulated funds brought forward 221,421,010 1,967,990 223,389,000 (From)/To unrestricted revenue funds - Closing revenue funds 223,389,000 Consolidated Revaluation Reserve Fund Unrestricted Funds 2023 £ At 1 July 66,588,647 Movements during the year (13,718,021) At 30 June 52,870,626 Summary of consolidated funds Unrestricted and Designated funds 2023 £ Trust Capital 10 Revenue accumulated funds 223,389,000 Revaluation reserve fund 52,870,626 Total funds 276,259,636 Recognised gains and losses before transfers |
Restricted Funds 2023 £ - - - - - Restricted Funds 2023 £ - - - Restricted Funds 2023 £ - - - - |
Total Funds 2023 £ 221,421,010 1,967,990 223,389,000 - 223,389,000 Total Funds 2023 £ 66,588,647 (13,718,021) 52,870,626 Total Funds 2023 £ 10 223,389,000 52,870,626 276,259,636 |
Last year Total Funds 2022 £ 212,907,924 8,513,086 221,421,010 17,639,852 239,060,862 Last year Total Funds 2022 £ 84,228,499 (17,639,852) 66,588,647 Last Year Total Funds 2022 £ 10 239,060,862 66,588,647 305,649,519 |
|---|---|---|---|
The notes attached on pages 23 to 32 form an integral part of these accounts.
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A W Charitable Trust - Consolidated Statement of Financial Activities for the year ended 30 June 2023
A W Charitable Trust
Consolidated Income and Expenditure Account for the year ended 30 June 2023
| Income Income from operations Refunds from HMRC on gift aided donations Income from investments, other than interest receivable Interest receivable Other operating income Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Governance costs Interest payable Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income and interest |
2023 £ 3,196,000 799,000 17,242,761 617,089 2,117 21,856,967 21,856,967 17,341,670 20,668 2,524,773 - 19,887,111 1,969,856 1,866 1,967,990 1,967,990 |
2022 £ - - 15,962,343 48,033 299 16,010,675 16,010,675 5,838,050 20,669 1,638,870 - 7,497,589 8,513,086 - 8,513,086 8,513,086 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 23 to 32 form an integral part of these accounts.
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A W Charitable Trust - Group Balance Sheet as at 30 June 2023
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Investments held as fixed assets | 13 | 309,610,352 | 322,740,629 | ||
| Current assets | |||||
| Debtors | 15 | 3,552,945 | 3,407,445 | ||
| Cash at bank and in hand | 25,817,800 | 25,043,336 | |||
| Total current assets | 29,370,745 | 28,450,781 | |||
| Creditors: amounts falling due | |||||
| within one year | 16 | (32,870,155) | (6,630,059) | ||
| Net current assets | (3,499,410) | 21,820,722 | |||
| Net assets | 306,110,942 | 344,561,351 | |||
| Creditors: amounts falling due after | |||||
| more than one year | 17 | (29,851,306) | (56,551,684) | ||
| The total net assets of the charity | 276,259,636 | 288,009,667 | |||
| The total net assets of the charity | are funded by the funds of the charity, as follows:- | ||||
| Restricted funds | |||||
| Unrestricted Funds | - | - | |||
| Trust Capital | 20 | 10 | 10 | ||
| Unrestricted Revenue Funds | 24 | 223,389,000 | 221,421,010 | ||
| Unrestricted Revaluation Reserve | 24 | 52,870,626 | 66,588,647 | ||
| Designated Funds | 276,259,636 | 288,009,667 | |||
| Total charity funds | 276,259,636 | 288,009,667 |
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A W Charitable Trust - Group Balance Sheet as at 30 June 2023
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charitable group is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 13.
A Weis
Trustee
Approved by the board of trustees on 19 April 2024
The notes attached on pages 23 to 32 form an integral part of these accounts.
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A W Charitable Trust
Consolidated Cash Flow Statement for the year ended 30 June 2023
| Cash flows from operating activities Cash flows from investing activities Interest received Other investment income, including rents from investments Purchase of investments Net cash provided by investing activities Cash flows from financing activities Repayment of amounts borrowed Net cash provided by operating activities as shown below |
2023 £ (15,956,276) 617,089 17,242,761 (587,744) 17,272,106 (541,366) |
2022 £ (13,235,691) 48,033 15,962,343 (19,814,205) (3,803,829) (31,460,682) |
|---|---|---|
| Net cash provided by financing activities (541,366) Overall cash provided by all activities 774,464 Cash movements Change in cash and cash equivalents from activities in the year ended 30 June 2023 774,464 Cash and cash equivalents at 1 July 2022 25,043,336 Change in cash and cash equivalents due to exchange rate moveme - 25,817,800 Cash at bank and in hand less overdrafts at 30 June |
(31,460,682) (48,500,202) (48,500,202) 64,108,178 - 15,607,976 |
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A W Charitable Trust
Consolidated Cash Flow Statement for the year ended 30 June 2023 A W Charitable Trust
Cash Flow Statement for the year ended 30 June 2023 - Continued
Reconciliation of net income to net cash flow from operating activities
| Net income as shown in the Statement of Financial Activities Adjustments for :- Write downs of investments Net unrealised losses on investment assets Dividends, interest and rents from investments Decrease in debtors Increase in creditors, excluding loans Net cash provided by operating activities Analysis of cash and cash equivalents Cash in hand at for the year ended 30 June 2023 Total cash and cash equivalents |
1,967,990 - - (17,859,850) (145,500) 81,084 (15,956,276) 2023 £ 25,817,800 25,817,800 |
8,513,086 - - (16,010,376) (1,676,143) (4,062,258) (13,235,691) 2022 £ 25,043,336 25,043,336 |
|---|---|---|
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A W Charitable Trust
Consolidated Cash Flow Statement for the year ended 30 June 2023
A W Charitable Trust
Cash Flow Statement for the year ended 30 June 2023 - Continued
Analysis of change in net debt
| Cash and Cash Equivalents Cash Borrowings Loans falling due within one year Loans falling due after more than one year Total |
At start of year 25,043,336 25,043,336 (902,721) (45,215,872) (21,075,257) |
Cash Flows 774,464 774,464 (26,159,012) 26,700,378 1,315,830 |
At end of year 25,817,800 25,817,800 (27,061,733) (18,515,494) (19,759,427) |
|---|---|---|---|
22
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, as modified by the revaluation of Fixed Assets, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing voluntary donations and rental income. As a consequence, the going concern basis is dependent on the future flow of these funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 28th February 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Public Benefit
The charity is a public benefit entity.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of rental income.
Categories of Income
Voluntary income is receivable by way of donations and gifts is included in the SOFA when received.
Rental income from investment properties is included in the SOFA in the year which it is receivable.
Other income represents surplus/(deficit) on the joint property syndicates and is included in the SOFA when received.
Banks and building society interest is included in the year in which it is receivable.
23
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Policies relating to assets, liabilities and provisions and other matters.
Fixed Asset Investments
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
Fixed asset investments in unlisted equities are shown at the balance sheet date at the best estimate of their market value, where practicable. Where valuation techniques are considered unreliable or where, in the opinion of the trustees, the costs outweigh the benefits to the users of the accounts, the investment is included at cost, and a review is undertaken at each year end as to whether the asset should be written down.
Investments in subsidiaries are shown as their balance sheet value.
All gains on fixed asset investments, whether realised or unrealised, are included in the Statement of Financial Activities.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
A regular annual review of the likelihood of asset impairment is undertaken.
No depreciation is provided on freehold property and improvements because it is the practice to maintain the property in a continual state of sound repair. Accordingly, the life is so long and the residual value so high that the Trustees consider that depreciation calculated in accordance with accepted accounting standards would be immaterial.
24
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
Revaluation of tangible fixed assets
Revaluation surpluses and deficits are recognized in the profit and loss account.
Financial instruments including cash and bank balances
A financial asset or a financial liability is recognized only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognized at the amount receivable or payable including any related transactions costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Basic financial instruments are recognized at amortized cost, except for investments in non-convertible preference and nonputtable ordinary shares which are measured at fair value, with changes recognized in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognized in profit or loss.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no designated funds.
There are no restricted funds.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
There is no significance of financial instruments to the charity's position.
25
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
5 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Auditors' remuneration 6 Interest payable Loan interest Bad debts 7 Taxation UK corporation tax 8 Investment gains Unrealised gains /(losses) and writing down of carrying values Investment properties - Unrealised (13,718,021) - Total unrealised gains/(losses) etc (13,718,021) - Total realised and unrealised gains (13,718,021) - All the gains and losses in the prior year was unrestricted. Unrealised gains /(losses) and writing down of carrying values Investment properties - Unrealised (17,639,852) - Total unrealised gains/(losses) etc (17,639,852) - Total realised and unrealised gains (17,639,852) - |
2023 £ 20,668 2023 £ 2,517,135 7,638 2,524,773 2023 £ 1,866 (13,718,021) (13,718,021) (13,718,021) (17,639,852) (17,639,852) (17,639,852) |
2022 £ 20,669 2022 £ 1,638,819 51 1,638,870 2022 £ - (17,639,852) (17,639,852) (17,639,852) |
|---|---|---|
9 Defined contribution pension schemes
There are no contribution pension schemes
10 Defined benefit pension scheme
There is no benefit pension scheme.
26
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
11 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
12 Tangible fixed assets
| Current Year At Valuation At 1 July 2022 At 30 June 2023 Depreciation At 1 July 2022 At 30 June 2023 Net book value At 30 June 2023 Prior Year At Valuation 01 July 2021 30 June 2022 01 July 2021 30 June 2022 Net book value At 30 June 2021 |
Land and Buildings £ - - - - - Land and Buildings £ - - - |
Plant & Machinery £ 4,974 4,974 4,974 4,974 - Plant & Machinery £ 4,974 4,974 4,974 4,974 - |
Motor Vehicles £ - - - - - Motor Vehicles £ - - - - |
Total £ 4,974 4,974 4,974 4,974 - Total £ 4,974 4,974 4,974 4,974 - |
|---|---|---|---|---|
All assets are used for direct charitable purposes.
27
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
13 Investments held as fixed assets
| Carrying values of investments At 1 July 2022 Additions Revaluation at 30 June 2023 At 30 June 2023 Analysis between fair value and historical cost Investments as above held at fair value Analysis of Investments in Property Summary of investments at 30 June 2023 Cash or cash equivalents |
Investments in subsidiaries £ 100 - - 100 100 |
Listed investments £ - - - - - Included at historical cost, less write down £ - |
Investments in Property £ 322,740,529 587,744 (13,718,021) 309,610,252 309,610,252 Included at fair value £ 309,610,252 |
Total £ 322,740,629 587,744 (13,718,021) 309,610,352 309,610,352 Total £ 309,610,252 |
|---|---|---|---|---|
Investment properties were valued by either professional valuers or by the trustees and the basis of the valuation is market value to arrive at a fair value. Valuation methods include comparing with similar properties or based on the rent yield on the property.In view of the current property market climate and high interest rates, the trustees decided to err on the side of caution by substantially reducing the valuations on certain properties to reflect the market conditions.
There are no restrictions on the realisability of the investment property, income from the investment property or any proceeds on disposal.
14 Investment pooling schemes and arrangements
There are no investment pooling schemes and arrangements.
15 Debtors
| Trade debtors Prepayments and accrued income Other debtors |
2023 £ 128,370 393,946 3,030,629 3,552,945 |
2022 £ 684,098 248,341 2,475,006 3,407,445 |
|---|---|---|
28
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
| 16 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Accruals Corporation tax PAYE, NIC VAT and other taxes Other creditors 17 Creditors: amounts falling due after one year Bank loans and overdrafts Other creditors |
2023 £ 27,061,733 416,910 4,248,950 - 998,234 144,328 32,870,155 2023 £ 18,515,494 11,335,812 29,851,306 |
2022 £ 902,721 472,300 3,776,533 2,081 959,382 517,042 6,630,059 2022 £ 45,215,872 11,335,812 56,551,684 |
|---|---|---|
18 Loans to trustees included in debtors
There are no loans to trustees
19 Guarantees made by the charity on behalf of trustees
There are no guarantees made on behalf of the trustees
20 Trust capital
| 2023 Number Trust Capital 10 |
2023 £ 10 10 |
2022 £ 10 10 |
|---|---|---|
29
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
21 Revaluation reserve
| Current year Current year Unrestricted Funds 2023 £ At 1 July 2022 66,588,647 Movements in year (13,718,021) At 30 June 2023 52,870,626 All the revaluations in the prior year was unrestricted. Prior Year Prior year Unrestricted Funds 2022 £ At start of previous year 84,228,499 Transfers in the year (17,639,852) At end of previous year 66,588,647 |
Current year Restricted Funds 2023 £ - - - Prior Year Restricted Funds 2022 £ - - - |
Current year Total Funds 2023 £ 66,588,647 (13,718,021) 52,870,626 Prior Year Total Funds 2022 £ 84,228,499 (17,639,852) 66,588,647 |
Prior Year Total Funds 2022 £ 84,228,499 (17,639,852) 66,588,647 |
|---|---|---|---|
22 Related party transactions
During the year Combined Property Control controlled by A Weis acted as managing agents to the group. No management fees were charged for their services.
During the year the group repaid net loans from Combined Property Control amounting to £372,714 At the year end Combined Property Control was owed £71,841 by the group.
All the trustees of the group are trustees of The Helping Foundation, a registered charity At the year end the foundation owed the charity £2,029,320
Sir Weis is a trustee of Newmarston Ltd, a UK registered charity. At the year end the charity owed Newmarston Limited £4,568,812 interest free and repayable on demand.
Barnsfold Limited and Torland Limited, wholly owned subsidiaries of AW Charitable Trust were owed £2,200,453 & £868,690 respectively by the charity, interest free and unsecured. These amounts are included in the charity‘s creditors due after one year.
30
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
23 Particulars of how particular funds are represented by assets and liabilities
| At 30 June 2023 Investments at valuation:- Fixed asset investments Current Assets Current Liabilities Long Term Liabilities At 1 July 2022 Investments at valuation:- Fixed asset investments Current Assets Current Liabilities Long Term Liabilities |
Unrestricted funds £ 309,610,352 29,370,745 (32,870,155) (29,851,306) 276,259,636 Unrestricted funds £ 322,740,629 28,450,781 (6,630,059) (56,551,684) 288,009,667 |
Designated funds £ - - - - Designated funds £ - - - - - |
Restricted funds £ - - - - - Restricted funds £ - - - - - |
Total Funds £ 309,610,352 29,370,745 (32,870,155) (29,851,306) 276,259,636 Total Funds £ 322,740,629 28,450,781 (6,630,059) (56,551,684) 288,009,667 |
|---|---|---|---|---|
24 Change in total funds over the year as shown in Note 23 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Unrestricted Revaluation Reserve Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2022 £ 221,421,020 66,588,647 288,009,667 288,009,667 |
Movement in funds in 2023 See Note 25 £ 1,967,990 (13,718,021) (11,750,031) (11,750,031) |
£ - - - - Transfers between funds in 2023 |
Funds carried forward to 2024 £ 223,389,010 52,870,626 276,259,636 276,259,636 |
|---|---|---|---|---|
25 Analysis of movements in funds over the year as shown in Note 24
| Unrestricted and designated funds:- Unrestricted Revenue Funds Unrestricted Revaluation Reserve |
Income 2023 £ 21,856,967 - 21,856,967 |
Expenditure 2023 £ (19,888,977) (13,718,021) (33,606,998) |
Other Gains & Losses 2023 £ - - - |
Movement in funds 2023 £ 1,967,990 (13,718,021) (11,750,031) |
|---|---|---|---|---|
31
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
32
A W Charitable Trust
Notes to the Accounts for the year ended 30 June 2023
26 The purposes for which the funds Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
Restricted funds:-
Restricted Fixed Asset Funds There are no restricted funds
27 Ultimate controlling party
The charity is under the control of its trustees.
33
A W Charitable Trust
Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
28 Donations, Grants and Legacies
----- Start of picture text -----
Current year Current year Current year Prior Year
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Donations and gifts from individuals
- -
Refunds from HMRC on gift aided donations 799,000 799,000
Sundry Donations - -
3,196,000 3,196,000
Total donations and gifts from - -
3,995,000 3,995,000
individuals
Total Donations, Grants and Legacies
Total Donations, Grants and - -
3,995,000 3,995,000
Legacies
----- End of picture text -----
29 Investment income
| Property Rental Income Bank Interest Receivable Other Investment Income Total investment income 30 Other income and gains Current year Total other income Sundry other income |
Current year Unrestricted Funds 2023 £ 17,233,410 617,089 9,351 17,859,850 Current year Unrestricted Funds 2023 £ 2,117 2,117 |
Current year Restricted Funds 2023 £ - - - - Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 17,233,410 617,089 9,351 17,859,850 Current year Total Funds 2023 £ 2,117 2,117 |
Prior Year Total Funds 2022 £ 15,962,339 48,033 4 16,010,376 Prior Year Total Funds 2022 £ 299 299 |
|---|---|---|---|---|
34
A W Charitable Trust
Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015
31 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grantmaking costs Current Year Grants made in the UK Grants made to organisations Breakdown of Grants made to organisations |
Current year Unrestricted Funds 2023 £ 16,858,292 16,858,292 Current year Unrestricted Funds 2023 £ 16,858,292 16,858,292 |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 16,858,292 5,217,124 16,858,292 5,217,124 Current year Total Funds 2023 £ 16,858,292 16,858,292 |
|---|---|---|---|
A schedule of grants made can be obtained by applying in writing to the trustees at the charity’s offices.
35
A W Charitable Trust
Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015
32 Support costs for charitable activities
| Current year Current year Current year Current Year Unrestricted Funds Restricted Funds Total Funds 2023 2023 2023 £ £ £ Premises Expenses 237,676 - 237,676 616 - 616 Administrative overheads 1,751 - 1,751 (1,078) - (1,078) (169) - (169) Professional fees paid to advisors other than the auditor or examiner 157,578 - 157,578 Financial costs 87,004 - 87,004 2,517,135 - 2,517,135 7,638 - 7,638 Support costs before reallocation 3,008,151 - 3,008,151 Total support costs - Current Year 3,008,151 - 3,008,151 The basis of allocation of costs between activities is described under accounting policies All the expenditure in the prior year was unrestricted. Administrative overheads The basis of allocation of costs between activities is described under accounting policies Sundry expenses Other legal and professional Loan interest Bad debts Telephone, fax and internet Stationery and printing Property insurance Bank charges and fees Ground rents, Rates and Maintenace |
Prior Year Total Funds 2022 £ 237,532 548 1,577 5,536 421 176,612 198,700 1,638,819 51 2,259,796 2,259,796 |
|---|---|
36
A W Charitable Trust
Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015
33 Other Expenditure - Governance costs
| Current Year Auditor's fees Total Governance costs |
Current year Unrestricted Funds 2023 £ 20,668 20,668 |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 20,668 20,668 |
Prior Year Total Funds 2022 £ 20,669 20,669 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
| 34 Total Charitable expenditure Current Year Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure All the expenditure in the prior year was unrestricted. Prior Year Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure 35 Taxation Corporation tax Total taxation costs |
Current year Unrestricted Funds 2023 £ 16,858,292 3,008,151 20,668 19,887,111 Prior Year Unrestricted Funds 2022 £ 5,217,124 2,259,796 20,669 7,497,589 |
Current year Restricted Funds 2023 £ - - - - Prior Year Restricted Funds 2022 £ - - - - |
Current year Total Funds 2023 £ 16,858,292 3,008,151 20,668 19,887,111 Prior Year Total Funds 2022 £ 5,217,124 2,259,796 20,669 7,497,589 |
Prior Year Total Funds 2022 £ 5,217,124 2,259,796 20,669 7,497,589 |
|---|---|---|---|---|
| Current year Unrestricted Funds 2023 £ 1,866 1,866 |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 1,866 1,866 |
Prior Year Total Funds 2022 £ - - |
37
A W Charitable Trust
Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015
| 36 Total of other expenditure Current Year Total taxation costs Total other expenditure |
Current year Unrestricted Funds 2023 £ 1,866 1,866 |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 1,866 1,866 |
Prior Year Total Funds 2022 £ - - |
|---|---|---|---|---|
38
A W Charitable Trust
Activity analysis of Income and expenditure for the for the year ended 30 June 2023
This analysis is classsified by activity and not by conventional nominal descriptions.
37 Analysis of income by activity
| Summary of Total Income, including the items above Donations & Legacies Investment income Other income Total income as shown in the SOFA Categories of income Income from Primary Purpose Activity |
2023 £ 3,995,000 17,859,850 2,117 21,856,967 21,856,967 |
2022 £ - 16,010,376 299 16,010,675 16,010,675 |
|---|---|---|
38 Analysis of charitable expenditure by activity
| Direct costs 2023 £ Primary purpose Premises expenses - Administrative overheads - Professional fees - Financial costs - Grantmaking costs - - Direct costs 2023 £ Total Primary purpose - - - Total charitable expenditure Summary of charitable costs by activity Total Primary purpose Activity Total Governance costs |
Support costs 2023 £ 238,292 504 157,578 2,611,777 - 3,008,151 Support costs 2023 £ 3,008,151 20,668 3,028,819 |
Grant funding of activities 2023 £ - - - - 16,858,292 16,858,292 Grant funding of activities 2023 £ 16,858,292 - 16,858,292 |
Total 2023 £ 238,292 504 157,578 2,611,777 16,858,292 19,866,443 Total 2023 £ 19,866,443 20,668 19,887,111 |
Total 2022 £ 238,080 7,534 176,612 1,837,570 5,217,124 7,476,920 Total 2022 £ 7,476,920 20,669 7,497,589 |
|---|---|---|---|---|
The basis of allocation of costs between activities is described under accounting policies
The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 34
39
A W Charitable Trust
Activity analysis of Income and expenditure for the for the year ended 30 June 2023
Analysis of support and governance costs by charitable activities
| Governance Finance Activity Primary purpose 20,668 2,611,777 Summary of grant making by activity Grants to institutions Grants to individuals 2023 2023 £ £ Primary purpose 16,858,292 - 16,858,292 - Fuller details of grants made and related costs, including support costs, a Governance costs Other Expenditure - Governance costs as detailed in Note 33 37 Analysis of Income and Expenditure per Entity Charity Total Income 21,773,395 Total Expenditue (19,813,541) Surplus for year 1,959,854 |
Human Other Resources Overheads - 396,374 Support costs Total 2023 2023 £ £ - 16,858,292 - 16,858,292 re shown in note 31. Governance costs 2023 £ 20,668 Bransfold Ltd Torland Ltd 83,572 - (75,618) 182 7,954 182 |
Total 3,028,819 Total 2022 £ 5,217,124 5,217,124 Governance costs 2022 £ 20,669 Group 21,856,967 - (19,888,977) 1,967,990 |
|---|---|---|
40