The White Oak Charitable Trust Charity registration No: 298781 Trustees' report and unaudited accounts For the year ended 5 April 2024
## The White Oak Charitable Trust
## Legal and administrative information
|Founder|The Right Hon Mrs Mary Hazel Caridwen Czernin, Lady|
|---|---|
||Howard de Walden|
|Trustees|The Right Hon Mrs Mary Hazel Caridwen Czernin, Lady|
||Howard de Walden|
||The Hon Mrs Alexandra Mary Romana Kelly|
||The Hon Mrs Isabelle Mary Benedicta Burnell|
|Charity number|298781|
|Principal address|47 Queen's Gate Gardens|
||London|
||SW7 5ND|
|Accountants|Evelyn Partners LLP|
||45 Gresham Street|
||London|
||EC2V 7BG|
|Independent examiner|Julie Mutton FCA|
||CLA Evelyn Partners Limited|
||Chartered Accountants|
||4thfoor, Cumberland House|
||15-17 Cumberland Place|
||Southampton|
||Hampshire|
||SO15 2BG|
|Bankers|Coutts & Co|
||440 Strand|
||London|
||WC2R 0QS|
|Investment advisors|Vermeer Partners|
||130 Jermyn Street|
||London|
||SW1Y 4UR|
## The White Oak Charitable Trust
## Contents
||Page|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement offnancial activities|5|
|Balance sheet|6|
|Notes to the accounts|7 - 12|
## The White Oak Charitable Trust
## Trustees' report for the year ended 5 April 2024
The trustees present their report and accounts for the year ended 5 April 2024.
The accounts have been prepared in accordance with the accounting policies set out on pages 7 and 8 to the attached accounts and the recommendations of the 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) (e ff ective 1 January 2019).
## Activities, speci fi c objects and relevant policies
## _Objects and activities_
The trustees hold the income and such part of the capital as they determine for such of the charitable objects, and to make donations to such charitable objects, as they decide having regard to any wishes of the founder.
The trustees may apply the income and capital of the trust to such charities and charitable purposes as the trustees, in their discretion, think appropriate, having regard to the founder's wish that the primary object of the charity is the relief of poverty and hardship.
The trustees con fi rm that they have referred to the guidance contained in the Charity Commission's general guidance on public bene fi t and, when reviewing the trust's aims and objects, managing the trust's assets and considering any applications for fi nancial assistance.
## _Investment policy_
The charity's assets have been invested with a bias towards income return, with investments managed on a risk averse basis.
The trustees regularly review the performance of all the charity's assets and the investment criteria will be regularly discussed by the trustees, with assistance from the investment advisors.
## Achievements and performance
## _Grants_
During the year ended 5 April 2024 the trustees made grants totalling £60,500 (2023 - £57,000), which are detailed in note 4 to the accounts. All grants were paid to institutions within the scope of the charitable objects.
## Investments
During the year the main source of funding was investment income, arising from the portfolio of investments held at Vermeer Partners.
The trustees are satis fi ed with the performance of the charity's investments.
## Related parties
There were no related party transactions during the year (2023: none).
- 1 -
## The White Oak Charitable Trust
## Trustees' report for the year ended 5 April 2024
## _Financial review_
## Results for the year
The fi nancial activities are summarised on page 5 of the accounts. During the year, the trust had net expenditure, before net gains on investments, of £15,913 (2023 - £9,153) having made grants totalling £60,500 (2023 - £57,000).
## Reserves policy
The trustees have reviewed the reserves of the trust and the forecast level of free reserves (those that are not restricted or designated) that will provide the trust with fi nancial fl exibility and provide a cushion against shortfalls in income, either planned or unanticipated. The level of free reserves at 5 April 2024 was £1,876,853 (2023 - £1,688,141). The trustees consider this level of free reserves satisfactory to meet annual donations to charities.
## Plans for the future
The trustees will continue to make distributions to charities in England and Wales and elsewhere.
## Governance, structure and management
## Governance
The charity was established by a Declaration of Trust dated 29 June 1987 and is registered with the Charity Commission, Charity Registration Number 298781.
The trustees who served during the year were:
The Right Hon Mrs Mary Hazel Caridwen Czernin, Lady Howard de Walden The Hon Mrs Alexandra Mary Romana Kelly
The Hon Mrs Isabelle Mary Benedicta Burnell
The power of appointing new trustees is vested in the founder during her lifetime and the trustees thereafter.
When appointing new trustees, the founder will give full consideration to the trust's purpose and aims to ensure that they appoint individuals who understand the duties expected of them, and who will act in the best interests of the trust.
The trustees feel that their combined skill set is su ffi cient to ensure the e ffi cient performance of the trust at this time and feel that, given the size and nature of the trust, a formal programme of training is not currently necessary, but they will continue to monitor the situation and will provide suitable training where circumstances arise.
All decisions a ff ecting the management of the trust and its assets are taken by the trustees.
## Structure and management reporting
The trustees are ultimately responsible for the policies, activities and assets of the charity. They are in regular and frequent contact to review the developments with regard to the charity, its activities and to make any important decisions. The trustees review the proposals for grants to be made and approve such grants as appropriate. When necessary, the trustees seek advice and support from the charity's professional advisors including investment managers and accountants.
## Risk factors
The trustees have examined risks which the trust could face and con fi rm that systems have been established to enable steps to be taken to lessen these risks.
- 2 -
## The White Oak Charitable Trust
## Trustees' report for the year ended 5 April 2024
## Trustees' responsibilities
The trustees are responsible for preparing the Trustees' report and the accounts in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satis fi ed that they give a true and fair view of the state of a ff airs of the charity and of the income and expenditure 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 United Kingdom Accounting Standards have been followed, subject to any 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 proper accounting records which are su ffi cient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board of trustees
Alexandra Kelly (Nov 29, 2024 15:24 GMT)Alexandra Kelly
## The Hon Mrs Alexandra Mary Romana Kelly
Trustee
Date: 29/11/2024
- 3 -
## The White Oak Charitable Trust
## Independent examiner's report
I report to the trustees on my examination of the accounts of The White Oak Charitable Trust for the year ended 5 April 2024 which comprise the Statement of fi nancial activities, the Balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies.
## Respective responsibilities of trustees and examiner and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## Independent examiner's statement
I have completed my examination. I con fi rm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Julie Mutton
Julie Mutton (Dec 5, 2024 09:40 GMT)
## Julie Mutton FCA
Fellow of The Institute of Chartered Accountants in England and Wales CLA Evelyn Partners Limited Chartered Accountants 4th Floor, Cumberland House 15-17 Cumberland Place Southampton Hampshire SO15 2BG
Date: 05/12/2024
- 4 -
## The White Oak Charitable Trust
## Statement of fi nancial activities for the year ended 5 April 2024
|Unrestricted Endowment
funds
funds
Notes
£
£
Income
Investment income
2
72,509
-
Total Income
72,509
-
Expenditure
Raising funds
22,835
-
Charitable activities - grants
4
60,500
-
Charitable activities - support costs
5
5,087
-
Total expenditure
3
(88,422)
-
Net expenditure before gains/(losses) on
investments
(15,913)
-
Net gains/(losses) on investments
204,625
-
Net income /(expenditure) and net
movement in funds
188,712
-
Fund balances brought forward at 6 April 2023
1,688,141
637,500
Fund balances carried forward at 5 April 2024
1,876,853
637,500|Total
2024
£
72,509
72,509
22,835
60,500
5,087
(88,422)
(15,913)
204,625
188,712
2,325,641
2,514,353|Total
2023
£
75,449
75,449
22,685
57,000
4,917
(84,602)
(9,153)
(241,127)
(250,280)
2,575,921
2,325,641|
|---|---|---|
All income and expenditure derives from continuing activities.
The notes on pages 7 to 12 form part of the accounts.
- 5 -
## The White Oak Charitable Trust
## Balance sheet as at 5 April 2024
|Notes
Fixed assets
Investments
8
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Net assets
Income funds
Unrestricted funds
Endowment funds|£
95,967
95,967
(11,069)|2024
£
2,429,455
84,898
2,514,353
1,876,853
637,500
2,514,353|£
105,408
105,408
(10,560)|2023
£
2,230,793
94,848|
|---|---|---|---|---|
|||||2,325,641|
|||||1,688,141
637,500|
|||||2,325,641|
The accounts were approved and authorised for issue on
and signed on its behalf by
Alexandra Kelly (Nov 29, 2024 15:24 GMT)Alexandra Kelly
## The Hon Mrs Alexandra Mary Romana Kelly
Trustee
The notes on pages 7 to 12 form part of the accounts.
- 6 -
The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
## 1 Accounting policies
## 1.1 General information
The White Oak Charitable Trust is an unincorporated trust, registered with the Charity Commission in England and Wales (No. 298781). The address of the registered o ffi ce is 47 Queen's Gate Gardens, London, SW7 5ND.
## 1.2 Basis of preparation
The accounts have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 issued in 2019. The accounts are also prepared in accordance with the Charities Act 2011.
The trustees con fi rm that the charity is a public bene fi t entity as de fi ned by FRS 102.
The charity only has fi nancial assets and fi nancial liabilities of a kind that qualify as basic fi nancial instruments. Basic fi nancial instruments are recognised at transaction value.
The accounts are prepared on a going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern.
## 1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes.
The endowment fund is a restricted fund, held primarily as fi xed asset investments.
## 1.4 Functional currency
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £1.
## 1.5 Income
All incoming resources are included in the Statement of fi nancial activities when the trust is legally entitled to the income, receipt is probable and the amount can be quanti fi ed with reasonable accuracy.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 1.6 Expenditure
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
## 1.7 Investments
Investments are stated at market value at the balance sheet date. Realised gains and losses on investments, calculated on the di ff erence between the sale proceeds and their opening market value, are credited or charged to the Statement of fi nancial activities in the year of gain or loss.
Unrealised gains and losses representing the movement in the market values during the year are credited or charged to the Statement of fi nancial activities in the year of the gain or loss.
- 7 -
The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
## 1 Accounting policies
(Continued)
## 1.8 Grants paid
Donations granted are recognised in the year in which the award is formally approved, irrespective of the period covered by the donation.
## 1.9 Liabilities
Liabilities are recognised on the balance sheet as soon as a constructive obligation resulting from a past event can be reliably measured. Current liabilities represent those liabilities which are expected to be settled within the next 12 months from the balance sheet date.
## 2 Investment income
|Investment income|||
|---|---|---|
|UK investments
Non-UK investments
Expenditure
Costs of raising funds
Investment management fees
Charitable activities
Grants payable (note 4)
Support costs (note 5)|2024
£
46,805
25,704
72,509
2024
£
22,835
60,500
5,087
88,422|2023
£
46,887
28,562|
|||75,449|
|||2023
£
22,685
57,000
4,917|
|||84,602|
## 3 Expenditure
- 8 -
## The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
|4
Grants payable
Grants to institutions:
Age UK
Aid to the Church in Need
Alzheimer's Research UK
Apostleship of the Sea
Arthritis Care
Asthma UK
Become
Blood Cancer UK
Bowel Disease Research Foundation
Brainwave
British Heart Foundation
British Liver Trust
CAFOD
Canine Partners
Carer's Trust
Caritas Anchor House
Changing Faces
Children with Cancer UK
Children's Burns Trust
Church of England Children's Society
Coram Voice
DEC - Turkey-Syria Earthquake Appeal
Dementia Matters
Dementia UK
Diabetes UK
Diagrama Foundation
Family Action
Fire Fighters Charity
Friends of the Elderly
Friends of the Ordinariate of Our Lady of Walsingham
Housing Justice
Julia's House
Liverpool FC Foundation
Maggie Keswick Jencks Cancer Caring Centres Trust England
Marie Curie
Meningitis Now
Mercy Ships
MIND
Missing People
North London Hospice
Parkinson's UK
Prison Advice and Care Trust (PACT)
RNID
RNLI
Royal Humane Society
Carried forward|2024
£
1,000
2,000
1,000
1,000
500
1,000
-
1,000
1,000
500
1,000
1,000
1,500
1,000
2,000
1,000
-
2,000
1,000
1,000
1,000
-
-
1,000
1,000
-
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
1,000
500
41,500|2023
£
1,000
2,000
1,000
1,000
500
1,000
2,000
1,000
500
500
1,000
1,000
-
1,000
1,500
1,000
1,000
1,500
1,000
1,000
1,000
1,000
1,000
1,000
-
1,000
1,000
1,000
1,000
1,000
1,000
1,000
-
1,000
-
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
-
500|
|---|---|---|
|||40,500|
- 9 -
## The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
|4
Grants payable
Brought forward
Samaritans
SENSE
Siblings Together
Smile Train
St Elizabeth Centre
St John's Hospice
St Mungos
St Wilfrid's Hospice
Swinfen Telemedicine
The Aldingbourne Trust
The Cystic Fibrosis Trust
The Dominicans
The Listening Place
The Mental Health Foundation
The National Eye Research Centre
The Passage
The Percy Hedley Foundation
The Stroke Association
The Trussell Trust
Time to Talk
Unseen
Us in a bus
Wilfrid Faber Counselling and Support
5
Support costs
Accountancy fees
Independent examiner's fees|(Continued)
41,500
40,500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
-
1,000
1,000
-
500
1,000
1,000
-
(500)
1,000
1,000
-
2,000
1,000
1,000
1,000
1,000
1,000
-
2,000
1,500
-
500
1,000
-
1,000
-
500
500
1,000
-
60,500
57,000
2024
2023
£
£
3,710
3,465
1,377
1,452
5,087
4,917|
|---|---|
All support costs are considered to be costs of governance.
Fees for accountancy and the independent examination are both paid to Evelyn Partners LLP and CLA Evelyn Partners Limited.
## 6 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year (2023 - none).
- 10 -
## The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
## 7 Employees
There were no employees during the year (2023 - none).
## 8 Fixed asset investments
|Market value at 6 April 2023
Disposals, at opening market value
Additions
Net investment gains/(losses)
Market value at 5 April 2024
Investments at market value comprised:
OEICS
UK equities
UK interest bearing securities
Overseas equities
Material investments (greater than 5% of portfolio)
WS Zennor INV FDS WS Zennor JPN EQ INC A Dis
Creditors: amounts falling due within one year
Accountancy fees
Independent examiner's fees
Investment management fees|2024
£
2,230,793
(331,443)
314,896
215,209
2,429,455
321,098
793,576
75,500
1,239,281
2,429,455
135,263
2024
£
3,711
1,449
5,909
11,069|2023
£
2,534,864
(220,220)
134,419
(218,270)
2,230,793
143,173
1,037,524
28,943
1,021,153
2,230,793
-
2023
£
3,465
1,452
5,643
10,560|
|---|---|---|
## 9 Creditors: amounts falling due within one year
## 10 Related parties
There were no related party transactions during the year (2023: none).
- 11 -
## The White Oak Charitable Trust
## Notes to the accounts for the year ended 5 April 2024
## 11 Endowment Fund
The Endowment Fund is held as capital and fully invested with Vermeer Partners in order to generate income and enable the trustees to further the aims and objects of the charity.
The cash invested in the Fund is £637,500 (2023 - £637,500).
- 12 -