## THE THREE OAKS TRUST 

TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 

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THE THREE OAKS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 


|CONTENTS||
|---|---|
||Page|
|Reference and Administrative Information Page|3|
|Trustees’ Report|4-14|
|Structure, governance and management||
|Trustee’s responsibilities in relation to the financial statements||
|Statement of public benefit||
|Objectives||
|Listing of donations||
|The Trust’s Assets||
|Investment strategy||
|Grant making policy||
|Strategic Report||
|Statement of Trustees’ Responsibilities|15|
|Auditor’s Report|16-18|
|Statement of Financial Activities|19-20|
|Balance Sheet|21|
|Notes to the financial statements|22-30|



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THE THREE OAKS TRUST 

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## **Reference and Administrative Information** 

Charity Registration Number: 297079 Corporate Trustee: The Three Oaks Family Trust Company Limited (Registered number: 1991868) Trustees: (i.e. directors of the Mrs E L D Chandy corporate trustee) Mrs S I Ellery Mrs P E Hobbs Mrs S A Kane Dr P Kane Mrs E Carmi Mr G D Wilkinson Mrs P A Wilkinson Principal office: The Three Oaks Family Trust Company Limited 65 Worthing Road Horsham, West Sussex RH12 1TD Auditor: Richard Place Dobson LLP 1-7 Station Road Crawley West Sussex RH10 1HT Bankers: CAF Bank 25 Kings Hill Avenue King’s Hill West Malling, Kent ME19 4JQ 

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THE THREE OAKS TRUST 

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The directors of the Corporate Trustee (herein referred to as “the trustees”) present their report with the financial statements of the charity for the year ended 30 September 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) (effective 1 January 2019). 

The total value of donations in the year was £485,668 a substantial increase over the previous year and a new high for the charity. Income increased to £571,293 and the value of the charities’ assets rose to £18.5m. Both are good outcomes under prevailing market conditions and leave the Trust well placed to meet its objectives in 2025. 

## **1. Structure, governance and management** 

The charity is constituted by a Deed of Trust dated 11[th] June 1987 and is registered with the Charity Commission, Charity Registration no. 297079. The fund originates from a single settlement from an individual donor. The object of the Charity is to provide funds for such charitable purposes as the Trustees in their absolute discretion think fit. 

The statutory power to appoint new trustees lies with the trustees themselves. 

The Charity is administered by the Directors of the Corporate Trustee (The Three Oaks Family Trust Company Limited) and does not have any employees. The Directors of the Three Oaks Family Trust Company Limited who served during the year are: 

Denise Chandy, social worker, retired Susan Ellery, social work consultant, retired Polly Hobbs, trade union official, retired Sarah Kane, social worker, retired Paul Kane, consultant earth scientist, retired Edina Carmi, social work consultant, retired Pam Wilkinson, social worker, retired Giles Wilkinson, chartered civil engineer, retired 

Three of the above have been Directors since the charity was founded in 1987. 

The majority of the charity trustees are retired professionals and are mindful of the need to address the issue of continuity of the charity and the collective breadth and depth of expertise of the trustees. All trustees have access to past documentation, minutes, briefing notes, reports and accounts. The trustees are encouraged to attend courses which they feel are relevant to the development of their role and to keep up-to-date with changes in legislation. 

The charity’s trustees are ultimately responsible for the policies, activities and assets of the charity. The charity holds regular meetings to discuss the business of the trust. The meetings have a standard format. Discussion of the minutes of the previous meeting is followed by the Chairman’s report which deals with current issues and a number of standing items including: 

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THE THREE OAKS TRUST 

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- Events in the last Quarter including visits and meetings 

- Donations made in the last Quarter 

- Trustees’ reports 

- Donations pending 

- Bank balances 

- Investment performance and related matters 

Trustees present their individual reports on their activities, including visits. There follows a review of applications for funding. Those trustees that make donations on behalf of individuals present any matters arising. Standing items on the agenda include a statement of investment activity and performance. Topics are introduced and discussed as they are identified. On an occasional basis, the trustees invite speakers from organisations that the Trust either supports or is considering supporting. 

The on-going task of liaising with the Trust’s professional advisors has been delegated to Dr Kane. Dr Kane is assisted in this role by Mr Wilkinson and Mrs Hobbs. Dr and Mrs Kane deal with the day to day administration of grants and the processing and handling of applications from registered charities and institutions between quarterly meetings. Mrs Kane, Mrs Wilkinson and Mrs Chandy have discretion to deal with applications for funding made on behalf of individuals. 

The onset of the Covid pandemic in early 2020 necessitated a number of changes to the way in which the Trust operated. Now, after several years, the revised way of working has become the norm. Fewer in-person meetings now take place and the trustees continue to hold virtual meetings between themselves, with professionals and with supported charities. Generally, this has been satisfactory for all concerned – it has cut costs and made for the more efficient use of people’s time. It is recognised however that there is a downside in terms of social cohesion and relationships between trustees and charities. The trustees regard in-person meetings as an essential part of their work in monitoring the activities of the charities that they support. 

All donations are now made by bank transfer with paperwork being received or sent electronically. Compared with pre-pandemic arrangements, the new ways of working have cut costs and reduced the time elapsed between applications being submitted and clients receiving support. The quantity of unsolicited requests and other communications received by post is modest, but annoyingly this is not the case for electronic traffic. All donations are made through CAF Bank and all require dual authorisation and electronic verification. 

The charity does not engage in any fund-raising activities. 

## **2. Trustees’ responsibilities in relation to the financial statements** 

The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

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THE THREE OAKS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 


The law applicable to charities in England and Wales requires the trustees to prepare accounts 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 year. 

In preparing these accounts, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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. 

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the Audit, but of which the Auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Auditor is aware of such information. 

## **3. Statement on public benefit** 

The Trust is a grant making charity. It exists solely for the purpose of supporting other organisations and individuals in need. The trustees have taken account of the Charity Commission’s general guidance on Public Benefit when reviewing the charity’s aims and objectives and in planning its future activities. In particular, the trustees have considered how planned activities will contribute to the charity’s aims and objectives as described below. The trustees decide which causes to support on the basis of merit and the information available. The trustees manage the Trust’s funds in a sustainable way designed to ensure the Trust’s future and to maximise future public benefit. 

## **4. Objectives** 

The stated aim of the charity is ‘To further the well-being of individuals and families who may for whatever reason be in distress’. This rather vague statement correctly identifies the beneficiaries of the Trust’s activities, but does little to describe how the charity works to meet this aim. This is best appreciated by reference to the pattern of donations that was established from the outset and which continues to date. 

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THE THREE OAKS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 


The charity provides support for individuals and families in the UK. The charity supports other charities that assist people with health, psychological and emotional difficulties. It also more directly supports individuals with these difficulties. 

In summary, and for the current year: 

The value of donations made this year totalled £485,668 (£414,503 in 2023). £296,930 (61%, 42 donations)(£245,265 in 2023) was donated to UK registered charities and institutions that promote the welfare of individuals and families. As in previous years, a number of small donations were made more directly for the benefit of individuals via statutory authorities and voluntary agencies. This year 613 (519 in 2023) such donations were made with a net value, taking account of refunds, of some £137,738 (28%)(£115,238 in 2023). Donations to charities and institutions whose focus of work is overseas were made to a value of £51,000 (10%, 7 donations)(£45,000 in 2023). 

Donations made for the benefit of individuals by the Trust are seen as a major component in the support of families and individuals in the community. The Trustees have provided regular support to West Sussex County Council and to Surrey County Council for the specific requirements of individuals as recommended by health visitors and social workers. In this capacity the Trust also supports a number of housing associations and mental health teams. 

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## **5. Listing of Donations made to Registered Charities and Institutions** 


**----- Start of picture text -----**<br>
LISTING OF DONATIONS TO CHARITIES AND INSTITUTIONS<br>UK Amount<br>BEAM £ 10,000.00<br>Bookham Baptist Church £ 8,000.00<br>Bookham Baptist Church 2 of 3 £ 8,000.00<br>Bramber Bakehouse £ 3,000.00<br>Canaan Project £ 8,500.00<br>Carer's Support West Sussex £ 750.00<br>CDAFSW support worker  £ 10,000.00<br>Clockhouse Community Centre £ 5,000.00<br>Dementia Support 2 of 3 Sage House £ 5,000.00<br>Dentaid £ 10,000.00<br>Equine Partners £ 2,000.00<br>Equine Partners £ 5,000.00<br>ESMHT Emergency Fund £ 3,000.00<br>Fellowship of St. Nicholas £ 10,200.00<br>FFT Dalesdown Bursary £ 1,500.00<br>FFT WSCC Kin BBQ £ 4,500.00<br>Gatwick Detainees £ 5,000.00<br>Guild Care £ 5,000.00<br>Horsham Matters £ 10,000.00<br>Horsham Refugee Support Group £ 2,000.00<br>Leatherhead YP 2nd of 3 £ 10,000.00<br>Macular Society £ 4,000.00<br>Making it Out £ 4,980.40<br>Mid Sussex Community Assoc. £ 1,500.00<br>MS Society £ 10,000.00<br>Nerve Tumours 1/3 £ 10,000.00<br>Phoenix Stroke Club 2 of 3 £ 10,000.00<br>Place2Be Family Practitioner £ 10,000.00<br>QM Studios £ 6,300.00<br>Rockinghorse £ 5,000.00<br>Salisbury BUGS Outing 2024 £ 3,200.00<br>Springboard Project £ 15,000.00<br>Support Through Court £ 10,000.00<br>Switchback - prison leavers £ 7,500.00<br>Tarner 1 of 3 £ 10,000.00<br>Ten Little Toes £ 5,000.00<br>TTT Befriending £ 5,000.00<br>Turning Tides (Block Fund) £ 20,000.00<br>Turning Tides (Salary) £ 10,000.00<br>Waltham Forest DA 2nd £ 10,000.00<br>Windmills Op Plygrp £ 8,000.00<br>YMCA Downslink Group £ 5,000.00<br>Value of UK Donations £ 296,930.40<br>**----- End of picture text -----**<br>


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During the year, the Trust made a number of donations to charities and institutions whose focus of work is overseas. The charities or projects supported by the Trust are now only in areas where the trustees visit or can send representatives. The trustees take the view that close supervision and monitoring of overseas projects is essential because of the ever present risks arising from issues of governance, operational activities and financial controls. The Trust is reducing the number of overseas projects that it supports because of the difficulty of monitoring activities adequately. The following overseas activities were supported during the year. 


**----- Start of picture text -----**<br>
Overseas Amount<br>Amplifying Voices - Vox Radio £ 5,000.00<br>Children on the Edge 2024 £ 15,000.00<br>John Fawcett Foundation £ 6,000.00<br>Juconi Ecuador £ 5,000.00<br>Kiwoko hospital, Uganda £ 5,000.00<br>Purple Community Fund - Education £ 10,000.00<br>Purple Community Fund Fire appeal £ 5,000.00<br>Value of Overseas Donations £ 51,000.00<br>**----- End of picture text -----**<br>


## **6. The Trust’s Assets** 

At the year-end the Trust’s assets were valued at £18.5m (£16.8 in 2023). All the Trust’s assets are financial assets made up of cash held at CAF Bank, a portfolio managed by Quilter Cheviot and a group of CCLA COIF Funds. 

Acquisition and disposals of fixed asset investments during the year are recorded in the notes to the accounts. 

## **7. Investment strategy** 

There are no restrictions on the charity’s power to invest and the trustees have adopted a multi-manager policy and taken steps to mitigate identified risks from a variety of sources. The overall strategy is to hold the Trust’s assets in different portfolios with each managed in a different way. The managers are Quilter Cheviot and CCLA COIF. The trustees have discretion to allocate capital for the purposes of making donations and to this end all the funds are managed on a total return basis. 

The Quilters portfolio is actively managed on a total return basis with a view to maintaining the value of the portfolio whilst paying out a sustainable income for the purpose of making donations. The manager and the trustees periodically discuss activity on the portfolio. The CCLA common investment funds are actively managed, but the Trust has no role in their management other than to decide whether to invest and how to allocate assets between the funds. 

At the year-end 2024, the portfolio valuations were as follows: 

- Portfolio of investments managed by Quilter Cheviot: £5.9m 

- • A group of Fund managed by CCLA COIF: £12.4m 

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The breakdown of COIF funds was as follows: 

- Deposit Fund: £1.1m 8.5% 

- • Investment Fund: £5.9m 47.3% • Global Equity Fund: £3.3m 26.2% 

- • Property Fund: £1.1m 9.1% • Ethical Fund: £1.1m 8.9% 

## **8. Grant making policy** 

Trustees provide funds for charitable purposes at their discretion. The Trust makes grants available to both individuals and organisations. Guidelines for grant-seekers are available on the charity’s web site. These guidelines are as follows: 

## **8.1 For Organisations** 

Grants are made to organisations that promote the welfare of individuals and families.  In general, the trustees intend to continue supporting the organisations that they have supported in the past. Periodically and generally bi-annually the trustees review the list of registered charities and institutions to which grants have been given and consider additions and deletions from the list. To save on administration, the trustees do not respond to requests from ‘new’ charities unless they are considering making a donation. Charities with whom the Trust has an established relationship are generally required to submit a new application each year. As highlighted above, the Trust will not respond to new direct requests from overseas. 

## **8.2 For Individuals** 

Direct applications from individuals will not be considered. 

Applications from invited, local, statutory and voluntary organisations are considered. To save on administration, only organisations in these categories will receive a reply. 

Grants are made on behalf of clients with, for example, the following problems - mental health, learning difficulties, physical handicaps, low-income families, single parents and the long-term sick. In the case of long-term difficulties, the trustees are most likely to be sympathetic to a request if the person or family on behalf of whom the request is being made, is able to reflect on whether there are any changes they could make to prevent the same problems reoccurring. 

In the case of psychologically vulnerable client groups such as the mentally ill or those with learning difficulties, the trustees would like to know whether the client is being given support with budgeting from the statutory services and, if relevant, whether the client is able to make plans to avert future problems. 

The trustees need to know the full cost of the grant needed, or in the case of larger items (up to £300), the trustees need to know what contribution is being requested of the Trust. The trustees would like to know which other Trusts have been approached for any specific request. Details of the agency to which the payment should be made should always be included in the application. The grants made may cover such items as basic furnishings, 

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clothing, a contribution to the cost of household appliances, telephone connections and small grants for educational purposes. 

In order to maintain consistency of approach and response from the Trust, an application form is available and can be downloaded from the website. The intention is that professionals should make use of the form in order that the trustees can make informed choices regarding donations. 

The Trust does not intend to expand further the scope of donations made for the benefit of individuals. Currently all the applications made on behalf of individuals receive a response, but this would cease to be the case if applications substantially increased in number. 

Although the Trust has an interest in overseas projects, it will not sponsor individuals in gap year work or similar activities. Applications (however well presented) will not be answered. The trustees wish to make this clear in order to prevent time being wasted on applications. Please note - individuals or charities should not assume a stamped addressed envelope will produce a reply. 

## **STRATEGIC REPORT** 

## **9. Achievements and performance** 

The Trust’s record of history of donations, income and assets is illustrated in Figures 1-2. 

The Three Oaks Trust donated £485,668 to charitable causes in the year ended 30 September 2024. The increase in income generated by the Trust’s COIF funds is fully supporting the current level of donations as shown in Figure 1. 


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THE THREE OAKS TRUST 

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Of the total donated, 61% went to UK registered charities and institutions, 10% to organisations whose work is mostly overseas and 28% in the form of small donations for the benefit of individuals (Figure 2). Three of the trustees assess applications received on behalf of individuals and firmly believe that these small donations can make a big difference to the individuals involved and their families. 

The charities supported in the UK are variously local charities known to the trustees, or charities brought to the attention of the trustees through personal or professional contacts. The Trust tends to make annual donations to these charities subject to satisfactory feedback. Where the Trust contributes to the salary of a charity worker, the trustees will consider a commitment to multi-year funding. For the charities that the Trust gives significant donations to year after year, it is usual for the trustees to make visits. 

The trustees are generally satisfied that the Trust is meeting its stated aim in a cost-effective manner. 


## **10. Financial Review** 

## **10.1 Results for the year** 

The Trust is reliant on the income from its investments in order to make donations. At the year end the Trust held assets of £18.5m. The trustees are mindful of the need to manage investment risk and reduce costs and have adopted a multi-manager strategy. Donations to a total value of £485,668 were made during the year. 

## **10.2 Future commitments** 

The charity rarely enters into specific written commitments regarding future funding. The trustees expect that the level of donations in the coming year will continue at or above 

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the current level. The trustees are actively encouraged to seek out new funding opportunities with a preference for small, local charities. 

**10.3 Reserves policy** The Charity has sufficient funds to maintain its current distributions. The Trust’s investment policy seeks to maintain a balance between capital growth and income and operates on a Total Return basis. The policy seeks to maintain the value of the Trust’s investments in 

real terms, whilst releasing money for donations. The trustees maintain a reserve separate from the investment managers to meet unexpected eventualities. 

## **11. Future plans** 

The trustees will continue to pursue a multi-manager investment strategy. The trustees will continue to ensure that investment performance is optimised to balance asset protection and income and ensure that there are sufficient funds to meet the anticipated schedule of donations. 

The trustees do not anticipate any significant changes to the charity’s grant-making strategy in the coming year and will continue to support many of the organisation that it has established relationships with. The trustees are mindful that, with the increase in income in recent years, they can increase the level of grants made and support additional causes. 

## **12. Risk management** 

A risk assessment has been carried out for The Three Oaks Trust. This assessment considered a number of risks and appropriate systems and procedures for managing those risks. The main areas of risk considered were: 

- Governance and oversight 

- Operational activities; and 

- Financial activities. 

Issues considered under the heading of governance included continuity of the charity, the depth and breadth of expertise of the trustees and its charitable and investment policies. The trustees have acted to increase their number and the range of expertise available within the charity. The trustees’ skills and training are aligned with the charity’s objectives and activities, but are periodically reviewed to ensure that they are collectively suitable to deal with anticipated future developments and for the purpose of assessing the services provided by professional advisers. 

Operational risks include the need to meet statutory and legal requirements, management, secretarial and administrative activities and the assessment and handling of donations. Risks arise both from the trustees’ activities and from the services provided by professional advisers. Steps have been taken to limit the risks arising from these sources. 

Financial risks include loss of income, loss of capital and misappropriation of funds. These may arise from poor budgetary control, inappropriate spending or transfer of funds, poor 

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accounting and inappropriate investment policies. Steps have been taken to limit the risks in all these areas. 

Variability of investment returns constitutes a risk for the charity because it is a grant making charity dependent on its investments for income. To address this issue, the trustees are using a total return approach to investment which they consider will stabilise the resources available for grant making. The trustees have adopted a multi-manager investment strategy. It is hoped that this approach will reduce risk, cut costs and increase performance. 

The above assessment and its design is intended to address the obvious, readily identifiable and every present risks but offers little protection against ‘black swan’ events such as the 2020 Covid pandemic. The charities that the Trust supports have all been affected to varying degrees. Some by disruption of their services and their fund-raising activities, others by increased demand for services. Depending on the nature of their work, some have been forced to shut down, whilst others have been able to make the transition to remote working. The Three Oaks Trust has been fortunate in being a grant-making charity that was fortuitously able to increase both the value of its assets and the number and value of donations made during the pandemic. Operationally, the trust has always been run by its trustees from their homes, has no employees and has transitioned to virtual communications. The Trust has moved entirely to on-line banking and greatly reduced the amount of paperwork handled. These changes have increased safety, reduced costs and increased flexibility and responsiveness. 

## **TRUSTEE** 

The Three Oaks Family Trust Company Ltd was the Trustee in office during the year. No Director of the Three Oaks Family Trust Company Ltd had any beneficial interest in any contract made with the charity during the year. 

For and on behalf of the Three Oaks Family Trust Company Ltd. 

…………………………… ……………………………….. Dr P. Kane Mrs S. A. Kane Director Director 

Date of approval by the Directors of the Corporate Trustee:  ……………………… 2025 

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THE THREE OAKS TRUST 

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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THE THREE OAKS TRUST 

AUDITOR’S REPORT FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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THE THREE OAKS TRUST 

AUDITOR’S REPORT (CONTINUED) FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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THE THREE OAKS TRUST 

AUDITOR’S REPORT (CONTINUED) FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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THE THREE OAKS TRUST 

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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## THE THREE OAKS TRUST 

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 30[TH] SEPTEMBER 2024 



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THE THREE OAKS TRUST
BALANCE SHEET
As at 301h September 2024
2024
2023
Notes
Flxed asset5
Invesimenis
13
18.268,4?5
16,604 *90
Cllrrent assets
Debtors
Casb at baDk and in baj
14
87,353
114,242
94.951
151.569
201,595
?46.5?0
CreditDt%: amount5 fglling dlle vithin one
year
15
(17,1581
115.8?31
Net current assets
184.437
230,697
Total a55ets less cllrrent liabilities
18.45?.862
16.834,987
The funds of the cb&ri
Unrestricted fvnds - general
Unrestricted fvnds- de51gtiated
17
io
184,437
18.268,4?5
230,697
16.604 •90
18.45?,862
16.834,987
The fllLlllcial statements were approved by the tNstees on.........................
Dr P Kane
Trustee
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THE THREE OAKS TRUST 

Notes to the financial statements For the year ended 30[th] September 2024 



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THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 



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THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 



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## THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 



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## THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 



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## THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 



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## THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 




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## THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 




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THE THREE OAKS TRUST 

Notes to the financial statements (CONTINUED) For the year ended 30[th] September 2024 




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