REGISTERED CHARITY NUMBER: 292910 Re ort of the Trustees Unaudited Financial Statements for the Year Ended 5 A ri12024 for The Pan on Trust
The Panton Trust Contents of the Financial Statements for the Year Ended 5 A ril 2024 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet Noles to the Financial Slatemenls 7t013 Statement of Financial Position 14
The Panton Trust ort of the Trustees for the Year Ended 5 A ri12024 The trustees present their report wth the financial slalements of the charity for the year ended 5 April 2024. The trustees have adopted the provisions of 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) leffeclive 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by ils governing docL¢ment. a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 292910 Prlnclpal address The Brentano Suite Solar House 915 High Road North Finchley N12 8QJ Trustees LM Slavin RD Crai9 Approved by order of the board of trustees on 14 Jan 2025 and signed on ils behalf by: LM Slavin Trustee Robert Craig- Truste8
The Panton Trust ort of the Inde endenl Reviewer for the Year Ended 5 A 12024 I report to the charity trustees on my examination of the accounts of the company for the year ended 5 April 2024. Res ective Re$ onsibilities of Trustees and Examiner As the charity trustees of the company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 A¢l'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinallon. I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515Xbl of the 2011 Act. Basls of Inde endent Examlner's Re ort My examination was carried OLSt in accordance with the General Directions given by the Charity Commissioners. An exarnination indudes a review of the accounting records kept by the charily and a comparison of the accounts presented with those records. It also includes Consideration of any unusual items or disclosuS in the accounts, and seeking explanations from the trustees conrning any such matters. The procedures undertaken do not provide all of the eviden that would be required in an audit, and consequenuy we do not express an audit opinion on the accounts. Inde endent Exa er's Statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. •accounling records were not kept in respect of the company as required by section 386 of the 2006 Act", or •lhe accounts do not accord with those records,. or •the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accoLnls give a 'true and fair view, whi¢h is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Finanoal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached.1 have no COnrnS and have come aeross no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understsnding of the accounts to be reached. Peter Taylor FCA Taor Associates 1 sl Floor, Gallery Court 28 Arcadia Avenue Finehley, London .N3 2FG 14Jan-25
The Panton Trust Slalemenl of Financial Activities for Ihe Year Ended 5 A ri12024 2024 2023 Unrestricted Total fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 31.000 22.500 Investment income 3,216 2.280 Total 34.216 24,780 EXPENDITURE ON Charitable activities Donation expenses 29,700 9.000 Other 14,853 8.471 Total 44,553 Nel gains (loss} on investments 1.280 NET INCOMEIIEXPENDITUREI {9,057) 5.191 RECONCILIATION OF FUNDS Total funds brought forward 246.482 241,291 TOTAL FUNDS CARRIED FORWARD 237.425 246.482 The notes form part of these financial statements
The Panton Trust Balance She ri12024 2024 2023 Unrestricted Total fund funds Notes FIXED ASSETS Listed Investments Investments in Subsidiary & Undertaking 5 70,887 69,607 147,359 146,079 CURRENT ASSETS Debtors Cash at bank 37.129 61.601 98.730 36,128 72,446 108.574 CREDITORS Amounts falling due within one year {8,664} 18.172) NET CURRENT ASSETS 237.425 246,482 TOTAL ASSETS LESS CURRENT LIABILITIES 237,425 246.482 NET ASSErs 237,425 246.482 FUNDS Unrestricled funds 237,425 246,482 TOTAL FUNDS 237.425 246,482 The financial statements were approved by the Board of Trustees and authorised for issue on 14tj Jan 2025 LM Slavin - Truslee Robert Craig- Trustee The notes fomi part of these financial statements
The Panton Trust Notes to the Financial Staiemenls for the Year Ended 5 A ri12024 ACCOUNTING POLICIES Basis of preparing the financlal statemenls The fi'nancial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance wlh the Charities SORP {FRS 1021 '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 Ire18nd IFRS 1021 (effective 1 January 20191.. Financial Reporting Stand8rd 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost Convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activrties once the charity has entitlement to the funds. rt is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation MMItt1ng the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classrfied under headings that aggregate all cost related to the category. Vvhere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Granls offered subject lo conditions which have not been met at the year end date are noted as a Commitment but not accrued as expenditure. Taxalion The charity is exempl from tax on its charilable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the trustees. Restricted funds Can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued...
The Panton Trust Notes to the Financial Stalements- continue for the Year Ended 5 A ril 2024 INVESTMENT INCOME 2024 2023 Other fixed asset invest- Fll Interest receivable Irading 2,322 894 1,574 708 3.216 1.438 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023. Trustees, expenses There were no trustees. expenses paid for the year ende(J 5 April 2024 nor for the year ended 5 April 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 31.000 Investment income 3,216 Total 34,216 EXPENDITURE ON Charitable activities Donation expenses Other 29,700 Total 44.553 Net gains on investments 1,280 NET EXPENDITURE 19,057) RECONCILIATION OF FUNDS Total funds brought forward 246,482 TOTAL FUNDS CARRIED FORWARD 237,425 continued...
The Panlon Trust Notes lo the Financial Statements - continued for the Year Ended 5 A ril 2024 FIXED ASSET INVESTMENTS Investments In Subsldiary & Listed Undertaking Investments Totals MARKET VALUE Al 6 April 2023 Revalualionslllmpairment) 76,472 69,607 1,280 146.079 1,280 At 5 April 2024 76.472 70,887 147.359 NET BOOK VALUE At 5 April 2024 76,472 70,887 147,359 At 5 April 2023 76,472 69,607 146,079 There were no investment assets outside the UK. Cost or valuation at 5 April 2024 is represented by.. Investments in Subsldiary & Listed Undertaking Investments Totals Valuation in 2024 Cost 1.280 76,472 1.280 69.607 146,079 76,472 70,887 147.359 If Charrfund had not been revalued. it would have been included at the following historic81 cost.. 2024 2023 Cost 69.607 71,726 Charifund were valued on an open market basis on 31 March 2024 by M&G. 2024 2023 Market Value at 6 April 2023 Additions Disposal {ImpairmenlyRevalualion 146.079 148,197 1,280 Market Value at 5 April 2024 147.359 146.079 continued...
10 The Panton Trust Notes to the Financial Statements - continued for the Year Ended 5 A ril 2024 The Trust owns 1000/0 of the share Capital in The Aumrie Limited. At 5 April 2024 the company had net assets of £800.670 and made a profrt of £31,369 before paying donations of £31,000 to the Trust. Profit and Loss Account: 2024 2023 Tumover Other income Administrdlive expenses 68.189 65,115 67,7341 60.8691 eratln Profitl Loss Tax on losslprofil on ordinary activities 455 4,246 Retained Profit Loss for the ear 369 4,246 Balance Sheet: 2024 2023 Fixed assets Current assets Creditors.. Due within one year 735,000 116.596 50,926) 735.000 117,541 52,2401 Net Assets 800,670 800.301 DEBTORS." AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amount due from group undertaking Tax 37,128 36.127 37,129 36,128 continued.-.
11 The Panton Trust Notes to the Financial Slalements - continue for the Year En(ied 5 A ri12024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors 8,664 8.172 8,664 8,172 MOVEMENT IN FUNDS Not movement in funds At 5.4.24 At 6.4.23 Unrestricted funds General fund 246,482 {9,0571 237,425 TOTAL FUNDS 246.482 9,057) 237,425 Nel movement in funds. included in the above are as follows.. Incoming Resources Galns and Movement resourc95 expended 1055¢$ in funds Unrestricted funds General fund 34,216 (44,553) 1.280 {9,057} TOTAL FUNDS 34.216 44.553) 1,280 9,0571 Comparatives for movement in funds Net movement in funds At 5.4.23 At 6.4.22 Unrestri¢ted funds General fund 241.291 5.191 246.482 TOTAL FUNDS 241.291 5.191 246,482 continued...
12 The Panlon Twst Noles to the Financial Statements - continued for the Year Ended 5 A ri12024 MOVEMENT IN FUNDS- contlnued Comparative net movement in funds. included in the above are as follows= Incoming Resources Galns and Movement resources expended losses In funds Unrestricted funds General fund 24.780 117.471) {2,118) 5.191 TOTAL FUNDS 24,780 17,471) 5,191 A current year 12 months and prior year 12 months combined position is as follows: Net movement In funds At 5.4.24 At 6.4.23 Unrestricted funds General fund 241,291 {3,866) 237.425 TOTAL FUNDS 241,291 3,866) 237,425 A current year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows= Incoming Resources Gains and Movement reSQUTCgS expended losses in funds UnrestriGted funds General fund 58,996 162.024) {838) (3,8661 TOTAL FUNDS 58.996 62,0241 3.866} Continued...
13 The Panton Trust Notes to the Financial Statements - continued for the Year Ended 5 A ri12024 RELATED PARTY DISCLOSURES Accountsncy fees of £8.66412023'. £8,172) We due to Ramsay Brown LLP. in which the trustee Mr L M Slavin is a Partner. During Ihe year. the Trust received donations of £31.000 {2023'. £22,500) from its subsidiary undertaking. The Aumrie Limtted. Legal fees of £5,88012023'. £Nill were paid to Howard Kennedy LLP, in which the trustee Mr R Craig is a consultant.
14 The Panton Trust Detailed Slalement of Financial Activities for the Year Ended 5 A ri12024 2024 2023 INCOME AND ENDOWMENTS Donations and legacles Donations 31,000 22,500 Investment Income Other fixed asset invest - Fll Interest receivable - trading 2,322 894 1,574 706 Total Incomlng resources 34.216 24,780 EXPENDITURE Charltable actlvities Donation expenses 29,700 9,000 Support costs Insurance 306 297 Finance Bank charges Governance costs Auditors, remuneration for non audit work Accountancy and legal fees 14.544 8,172 14.544 8,172 Total resources expended 44.553 17,471 Net (expenditureifincome before gains and losses 110,3371 7.309 Realised recognlsed gains and losses Realised gainsl{losses) on fixed asset investments 1.280 12,118) Net (expenditure}Ilncomo 9,0571 5.191 This page does not form part of the ststutory financial statemenls