DoSIgn Envelope ID.. BccOG1-62o448EA-Bc7o.368Cs027BAF4 Charity Reglstration no 303078 THE FASSNIDGE MEMORIAL TRusr TRUSTEES. REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2025 fassnidge A charity serving generations of HTrllingdon people
Docusign Envelope ID.. BCA2COC1.6204-48EA.BC7M6BC5027BAF4 THE FASSNIDGE MEMORIAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Attias Mrs M Lally (Resigned 18 September 20241 Mrs J Marren-King MrA Bennett Mrs R Chamdal MrK Martin Dr R Gudi Mrc Liberty MrJ Hensley(Appointed 15 January 20251 Mrs K P Kaur IAppointed 15 January 20251 Charity no. 303078 Address Kate Fassnidge Community Hall 2 Harefield Road Uxbridge UB81GW Auditors Ward Williams Belgrave House 39-43 Monument Hill Weybridge Surrey KT13 8RN Bankers Lloyds Bank plc 21-22 High Street Uxbridge Middlesex UB8 IJD
Docusign Envelope ID.. 8CA2COC1420448WBC70-36BC5027BAF4 THE FASSNIDGE MEMORIAL TRUST CONTENTS Page Trustees, Report Auditors, Report 9-12 Statement of Financial Activities Balance Sheet 14 Statement of Cash Flows Notes to the Accounts 16-24
Docusign Envelope ID. BCA2COC7420448EA-BC7fv36BC5027BAF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTfor the year ended 31st March 2025 We aim to become the leading Charity for older people in the London Borough of Hillingdon Registered Name Charity Number Address THE FASSNIDGE MEMORIAL TRUST 303078 Kate Fassnidge Community Hall 2 Harefield Road Uxbridge UB8 1GW Websito www.fassni echari Charitable Objectlves The original bequest was by the will of Kate Fassnidge11863-19501 of Uxbridge. The Charity was set up in 1994 with the aim of benefiting.. l. Old persons living in the former Urban District of Uxbridge,. 2. Old persons living i n the London Borough of Hillingdon,. and 3. Any charitable purposes benefiting the inhabitants of the London Borough of Hillingdon. Today the Charity fulfils these objectives by focusing on helping older people in the London Borough of Hillingdon 8nd is actively looking at new ways to expand the help that it offer5. Fin ncial Re for the 031"M ch202 The Charity recorded a deficlt of £43k forthe year compared to a surplus of £126k in the previous year. The main drivers forthe reductlon were a drop in unreallsed gains in fund investments down £119k together with building repair costs of £27k Expenditure on Charitable Objectivès. mainly focused on the elderly. also increased by £23k to £93k. The Charity aims to breakeven each year whilst maintaining its investments including property. Property investments include the listed Cedars Buildlng in Uxbridge which is let to Trinity Homeless Charity. This year the TNstees decided to replace the window5. whlch needed essential repairs. to safeguard the future of the Building. The initial deposit for the work amounted to £27k. Replacement of the windows is expected to omplete in 2025 and will be funded from income received on the Charity's fund investments. Unreali5ed gains on the Charitys investments during the year amounted to £1k following a material unrealised gain of £120k in 2024. The Charity holds investments with a long-terni view. is prepared for short term flu¢tuations in value and has sufflcient assets to be able to absorb these fluctuations in the short to medium term.
Doujsign Envelope IO.. BCA2COC142o4-48E8C70-36BCsO27BAFd THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORT for the year ended 31$1 March 2025 Surplus/lDeficitl Expend iture on Charitable Objectives Income Running Cost5 Unrealised gain/llossl on investments Balance Sheet Assets Balance Sheet Net Assets (£43.130J Down £169.187 £93.127 Up £22,601 £185,853 Down £106 £136,898 Up £27.458 £1,044 Down £119.021 £2,731,709 Down £50,280 £2.715.883 Down £43.131 Expenditure on Charitable Objectives The Trustees fulfil the Charity's objectives by providing support to people in need in the London Borough of Hi Ilingdon with a focus on support for the elderly. The main initiatives for this year included grants for essential household items such as white goods, su pplying Christmas Hampers and running events forthe elderly. The Charity employs two parttime employees to run coffee mornings and lunches for local older people allowing them to come together and socialise. The Charity is continuin9 to build on this initiative which has been very well received by the participants. Total expenditure on these objectives for the year ended 31" March 2025 was £93,127, up by £22,601 compared to 2024. Expenditure Year to Expenditure Year to 31103125 31103124 Assistance Grants Provided to individuals in need for white goods, cafpets & ILJrniture. Applied for by local organisation5 on behalf of individuals. Grants are also available to local organisations meetin9 the objectives of the Ch3TIty. Applications are a5se55ed against the Charity's aims & available bud ot. Supplied 750 Christmas Hampers to local organisations for distribution to the elderly and r)eed
Cost to set up ènd run coffee morriings and lunches including 5t3ff costs and nc>tional charge for use of Uxbrid e Hall Held Coronation Celebration Events lorthe elderly including catering. The events were designed to help those who may feel isolated to mix with other5 to celebrate and built on the Jubilee Celebration Events held in the previou5 ear. 27,394 13,161 Hampers 28,113 20,721 CoffÈe Mornings 20,210 18,656 Event5 2,527 Totsl Ex Hall Hire nditure 75.717 498 hours Notion81 cost £17,410 93.127 55.065 442 hours Notional cost £15.461 70.526 Allow local organisations to hire Community Halls at no or reduced cost where the activity is for the direct benefit of the elderl Notlonal Ex enditur• Tgtsl Includin Including ncjtional expènditure from free Hall Hires where hires directly meet the Charity's objectives
Docu$ Envelop8 10.. sc1COc120448WBc7(36BCSO27BAF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTfor the year ended 31st March 2025 Assets Charitable activities and the Charity's runni ng costs are funded by income generated from the Charity's Permanent Endowment and investments. The Trustees have chosen to invest surplus funds in investment trusts with a view to protecting the lon9-term future of the Charity. Investments have increased in value marginally during the year by £1 k followi ng an increase of £120k in the previous year. During 2023 the Charity took the decision to mothball the Northwood Community Hall to avoid incurring additional costs. In 2025 an agreement was reached with the London Borough of Hillingdon to lea5ethe Northwood Community Hall to be used as a pop-up libra ry wh ile local libraries are rebuilt. Income from the lease, which also includes coverage of the on-going cost5 Qfthe Hall, started from March 2025. Book Value 31103125 Book Value 31103124 pernent EndoTNment The Cedars Freehold Propety Leasecl to Trinity Homeless Projects Darren House Leased to a local co sn Cazenove Charities Multi-Asset Fund 149,140 149,140 1,096,293 1,113,340 Total Pormanent Endowmént 1.245.433 1.262.480 Other Inv•slmonts Kate Fa5snid9e Community Hall at 2 Harefield Road Uxbridge Available to hire forthe locol community 86,450 87,874 76 High Street Northwood 8 Flat5 & Community Hall Community Hall let to London Borough of Hillingclon for use as a Library 183,798 185.490 Cazenove Charitie5 Multi-Asset Fund including Dep051t Variou5 Inv&stmÈnt Funds including Dep051t Bank Deposit 658,624 530,308 12,085 714.736 512,576 9,042 Totsl Other Investm•nts Other Assets Office Equipment Cash at Bank Debtor5 Totsl Assets 1.471,265 1.509.718 1,298 2,914 5,576 2.781.980 8,720 6,291 2.731.709
Docu5vJn Envelope ID.. BccOc1-62O446EA-Bc7Q-388C5O27BAF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTfor the year ended 31st March 2025 Income Income for year has decreased marginally by £106. Yearto 31/03125 Year to 31103124 Hire of Communi Interest on Bank and Fund De Pro Rental Income from Investmetht5 ReiMburseent of Insurance Donations & Other Income Total Income 33,145 4.160 63,050 81,238 3,490 770 185.853 31,069 7,219 61.800 82,714 3,157 051ts 185.959 Expenditure Expenditure has increased this year by £27k mainly due to the cost af replacing the windows at the Cedars listed building part of which was paid for in the year. The Trustees keep a tight control over expenditure, all of which must be preapproved or covered by approved budget, to ensure the Trustees maximise the amount thèt can be used to meet the Chèrity's objectives, ensure the Charity remains financially sound and to maintain property investments in a state req uired to maintain rental income. Year to 37103/25 Yearto 31103/24 ee com en5ation and benefits Pro maintenance Le al 3nd Estate services Office costs Audit fee Insurarpce Communi H811 runnin Fund mana ement lees Fixed asset de reciation Other ex enses Total Ex enditure 46,697 27,044 3,157 7,082 7,860 4,033 26,109 9,825 4.415 676 136.893 45,360 9,324 5,429 6,720 4,221 23,400 9.125 4.848 1,013 109.440 costs 2 Including notional charge for Free Hall Hires totalling £17,41012024 £15,461) 3 Excludes employee compensation and benefits for Coffee morning employees included within expenditure on charitable objectives.
Docusign Envelop&10.. BcA2C1.62O448EA-Bc7o-36BcSO278AF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTforthe year ended 31° March 2025 Governance & Running of the Charity The TrLJStees, who are all volunteers, meet regularly to manage the Charity. The Trustees have continued this year to focus on the future strategy of the Charity and the five-year development plan. As well as considering future strategy the Trustees undertake, on an ongoing basis, risk assessment of the Charity's activities. Action is taken to remediate risks where this is deemed necessary. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year. The Charity employed two Charity Managers during the year, both ofwhom work parttime, to look afterthe dayto day running of the Charity including submitting proposals tothe Trustees for initiatives to fulfil the Charity's objectives. The Charity also employs a part time caretaker to look after the Community Halls and two parttime employees to run and manage coffee mornings and other events for local older people. The Charity has a volunteer who acts as the Accountant for the Charity. The Charity has set up a Charitable Incorporated Organisation (CIO) with the intention to move its operations to the CIO in the future. No timescale has yet been set for the transition and this is expected to be in more than 12 months from the date ofthis report. The Trustees of the Charity, during the year to 31 St March 2025, and to the date of the signing olthese Accounts, were as follows.. James Attias Adam Bennett Reeta Chamdal Dr Reva Gudi John Hensley Kamal Preet Kaur Marian Lally Connor Liberty Johanna Marren-King Kelly Martin Susan O'Brien Appointed as Chair 18 September 2024 (Appointed 15 January 20251 (Appointed 15 January 20251 (Resigned 18 September 20241 (Resigned 18 September 20241- Chair until 18 September 2024 To ensure adequate rotation, as well as to encourage new initiatives, the Trustees serve a maximum of two consecutive terms offour years each. Former Trustees may be reappointed after a suitable interval. The Trustees undertake regular reviews of skillsets to ensure a spread of experience in different fields.
Docu5vJn Envelope ID.. BcA2COC1-620448EBc7o-3$Bc5o278AF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTforthe year ended 31It March 2025 The Trustees seek professional advice and support a5 they deem necessary. Legal Adviser Boyes Turner LLP 4, Floor Abbots House 189 Abbey St Reading RG1 38D Architects and Project Managers Davy Projert Management Limited 9 Painters Close Bloxham Oxfordshire OX15 4QY Valuers and Chartered Surveyors The Frost Partnership 1 Burkes Parade Beaconsfield Buckinghamshire HP9 1 NN Accountant Fiona Morgan FCCA Auditors Ward William5 Bay Lodge 36 Harefield Road Uxbridge UB81PH Bankers Lloyds Bank plc 21-22 High Street Uxbridge UB8 1JD Climate Change & Sustainability The Trustees have considered the impact of the Charity's activities on climate change and are looking to expanding this further in the future. The Charity'5 main investment in the Cazenove Charities M ulti-Asset Fund is classified as green for climate change by Schroders Su5tainEx and future investments vvill be assessed for climate impact. The Charity in the past few years have taken step5 to minimi5e use of paper and printing by initiatives including replacing hard copy reports for regular meetings and using electronic medium wherever possible. Where white goods are suppl led for Grant5, the Charity will look to Supply the most energy efficient model available forthe price agreed.
Docusrgn Envelope ID.. BCA2COC1420448EA-BC70-36BC50278AF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORTfor the year ended 31st March 2025 Reserves The Charity continues to holc4 a significant amount of assets and is well placed financially to build on achievements to date. The funds available, where not required for the day to day running of the Charity, are invested to generate income to meet the aims and future strategic vision of the Charity. Unrestricted Funds are required to provide funds to cover and fulfil the objects of the Charity, and the Trustees consider it prudent that unrestricted reserves should be sufpicient to caver at least one year's expenditure based on the prior financial year. The amount of liquid assets available is monitored against prior year expenditure, at least quarterly. Currently liquid assets are wel l in excess of annual expenditure. Investment Policy The full Investment Policy of the Charity is available on demand from the registered correspondence address. The Charity aims to invest surplus funds to achieve capital growth and income sufPicient to Sustain the Charity and to carry out the Charity's objectives both in the present and the fLrture, by way of medium risk well diversified investments. Specific investment objectives are= Maintain the portfolio received at the start and continue its investment and growth for the future., Produce a steady income for the purposes of the Charity's objectives- Enhance the property portfolio for the Charity's continued stability,. and Make investment5 for long-term capital growth to support the continuance ofthe Charity in perpetuity. From 1" November 2017 the Trustees approved use ofthe total return approach for the permanent endowment invested in the Cazenove Charities Multi-Asset Fund. Use ofthis approach allows any gains on the investment whether capital gains, dividends, or other income, to be used by the Charity to further its aims. Statement of Trustees. Responsibilitles The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Eng la nd & Wales requires the Trustees to prepare financial statements 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 period. In preparing these financial statements, the Trustees are required to:
Docusign Envelope ID.. BcA2COC1-620448EA.BC7(36CsO278AF4 THE FASSNIDGE MEMORIAL TRUST ANNUAL REPORT forthe year ended 31" March 2025 select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP 2019 IFRS 1021; make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed 3 nd explained in the financial 5tatements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financi31 position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Reg ulatioris 2008 and their Trust Deed. They are also responsible for safeguard ing the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the board of trustees by". -6Cgfj4FIALYJN22 Adam Bennett- Trustee (Chair) Date: ..23 !anuary.2026
Oocusign Env&lope ID.. BCA2COC1420448EA.BC70-36BC50275AF4 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FASSNIDGE MEMORIAL TRUST FOR THE YEAR ENDED 31 MARCH 2025 Opinion We have audited the financial statements of The Fassnidge Memorial Trust (the 'charity') for the year ended 31 March 2025 which comprise of the Statement of Financial Activities, the Balance sheet, the Statement of Cash Flows and related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the firiancial st3tements- give a true and fair view of the state of the charitls affairs as at 31 March 2025, and of r(s incoming resources and application of resources, for the year then ended-, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the aud it of the financial statements section of our report. We are independent of the charity in accordance with thè ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the aLJdit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust's ability to continue as a goin9 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
DocuswJn Envekpe ID.. bCA2COCf-620U8EA.BG70-36BC5027BAF4 10 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FASSNIDGE MEMORIAL TRUST FOR THE YEAR ENDED 31 MARCH 2025 Other information The trustees are responsible for the other information. The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditar's report thereon. Our opinion on the finar)cial statements does not cover the other inlormation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibilty is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other i riformation. If, based on the work we have performed, we conclude that there is a material misstatement of this Other information, we are required to report that fact. We have nothing to report in this regard. Matlers on whlch we are required to report by exception We have nothi ng to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you 14, in our opin ion.. the information given in the financial statements is inconsistent in any material respect with the trustee5' report,. or sufficient accounti ng records have not been kept,. or the financial statements are not in agreernent with the accounting records., or we have not received all the information and explanations we require for our audit. Responsibiliti95 of trustees As explai ned more fully in the trustees, responsibilities statement, set out on pages 7 and 8, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trLJStees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparirig the financial statements, the trustees are responsible for assessing the charitys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and Using the going concern basis ol accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Do¢u5ign Envelope ID.. BCA2CQC1-620446EA-BC70.36BC5027W4 11 REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF THE FASSNIDGE MEMORIAL TRUST FOR THE YEAR ENDED 31 MARCH 2025 Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under Section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the 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 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraLJd 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 financia I statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements i n respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5, including fraud, is detailed below. We obtained an understanding of the legal and regulatory frameworks applicable to the trust and the sector in which they operate. We determined that the following was most significant- the Charities Att 2011. We obtained an Ljnderstanding of how the trust are complying with those legal and regulatory frameworks by making inquiries to the management of the trust. We corroborated our inquiries through our review of correspondence during our audit work. We assessed the susceptibility of the trusys financial statements to material misstatement, including howfraud might occur. Audit procedures performed included: identifying and assessing the design effectivene55 of controls management has in place to prevent and detect fraud,. understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,. challenging assumptions and judgements made by management in it's significant accounting estimates., identifyin9 and testing journal entries, in particular and journal entries posted with unusual account combinatior15,' and assessing the extent of compliance with the relevant laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those lèading to a material misstatement in the financial ststements or non-compliance with regulation. This risk increases the more tliat compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Do¢uslgn Emelope ID.. BCA2COC1-620448EA-BC70-36BC5027BAF4 12 REPORT OFTHE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FASSNIDGE MEMORIAL TRUST FOR THE YEAR ENDED 31 MARCH 2025 A further descrioion of our responsibilities for the aud it of the fir)ancial Statements is located on the Financial Reporting Council's website at.. www.frc.org.uk/auditorsresponsibilities. This description forms part of ou r auditoH5 report. Use of our rèport Thi5 report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are requi red 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 responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. JALJ WARD WILLIAMS Statutory Auditors ZozL Belgrave House 39-43 Monument Hill Weybrid9e Surrey KT13 8RN Ward Williams is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Docusign Envelope ID.. BGA2COC1-620448EA-BC7N36BC5027BAF4 13 THE FASSNIDGE MEMORIAL TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted Funds Funds Endowment Funds Total 2025 Totsl 2024 Income and •ndowmèntsfrom: Incoming resources from generated fund5'. Donations and legacies Charitable Activitie5 Investments Other incom& 470 9,284 148,449 300 470 9.284 148.449 300 10,697 151,733 Total incoming resources Note 2 158,503 158.503 162,430 Expenditure on". Charitable Activities 202,677 202.677 156,438 Total expendlturo Note 3 202,677 202.077 156,438 Net 9ain/llossl on investments Note 4 18,092 117,0481 120,065 N•t income / lexpendltur•) 126,0821 117,0481 143.1301 126,057 Transfors b•tbv••n funds Net mov•mènt in funds 126,0821 117,0481 143,1301 126,057 R•concillatlon of funds Total fvnd$ broughtforward At 1 April 2024 1,482,210 1,266,803 2.749,013 2,622,956 Total funds brought foThvard At 31 March 2025 Note11 1,456, 128 1,249,755 2.705.883 2,749,013 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.
DOSIgn Envelope ID.. 8CA2COC1-620448EA-BC7(h36BC5027BAF4 14 THE FASSNIDGE MEMORIAL TRUST BALANCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 FIXED ASSErs Tèngible assets 419.388 423,802 CURRENT ASSETS Investments Debtors Cash at bank and in hand 2,297,310 6.291 8,720 2,349,694 5,576 2,914 2,312.321 2,358,184 CREDITORS: Amounts falling due within one y•ar 115,8261 122,9731 NEf CURRENT ASSETS 2,296.495 2,335,211 NET ASSETS 2,715.883 2.759,013 REPRESENTED BY: Capital bequest 6,11 10.000 10,000 Unrestricted fund5 Endowmèntfunds 1.456.128 1.249.755 1,482,210 1,266,803 2,705.883 2,749,013 TOTAL FUNDS 2,715,883 2,759,013 The accounts were approved bythe trustees orn . 23 January 2026 Signed on behalf on the trustees Jnod by". Adam Bennett-Trustee Ichairl
Docusign Envelope ID.. BCCoC1-62O448EBc70-36BC5o27BAF4 15 THE FASSNIDGE MEMORIAL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flow from operating artivities {see reconciliation below): Net cash flow from operatin9 actlvities (131.977) 42,735 Cash flow from Investing activities Payrnents to acquire tangible fixèd assets Interest received Re-invested income Irom investments 4.160 81.239 7,220 82,713 Nei cash flow from investln9 artivities Net increase/ldecrease) in cash and cash equivalents 85.399 (46,578) 89,933 132,668 Cash and cash equivalents at 1 April 2024 2.352.008 2,219,940 Cash and cash equivalents at 31 March 2025 2,306.080 2,352,608 Reconcillatlon of net incorne / lexpenditure) to net tash flow from operating activities Net income/lexpenditurel for the year Depreciation of tangible fixed assets Interest receivable Income frorn multi asset investmènt fund Ilncreaselldecrease in debtors IDecreasel/increase in creditors 143.1301 4,414 (4.160) 181.239) (7151 (7.147) 126.057 4,848 17,2201 182,7131 450 1,313 Net cash flow from operating artlvltles 1131.977) 42,735 Cash and cash equivalents as at the year-end of £2,306,08012024= £2,352,608) consists of cash at bank and in hand of £8,72012024.. £2,914) and invested surpluses in rnulti-asset funds and deposit accounts of E2,297,31012024= £2,349,694).
DoDJsign Envelope ID. BCA2cOc14204-48BC70-36BcS0278AF4 16 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Summary of slgnificant accounting policies General Information and basis of preparation The Fassnidge Memorial Trust is a Charity registered in the United Kingdom. The address of the Charity is given in the Trustees report on page 1 of these financial statements. The nature of the Charity's operations and principal activities are stated in the trustees report on pages I to 8. The Charity constitutes a public benefit entity as defined by FRS 102. The financial Statements have been prepared in accordance with Accounti ng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accou nts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (published in October 20191, the Charities Act 2011 and UK Generally Accepted Practice. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reportsl Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure ha5 involved following the 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 IFRS 1021 rather than the Accounting and Reporting by Charities: Statement of Recommended Prattice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared under the historical cost convention, The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going Concern At the time of approving the accou nts, the trustees have a reasonable expertation that the charity will continLJe in operational existence for the foreseeable future, with the charity having substantial reserves available for furtherance of its charitable activities. Thus the trustees continue to adopt the 90ing concern basis of accounting in preparing the accounts.
DoGu5ign Envelop8 ID.. BCA2COC1.620448EA-BC7(h36BC50278AF4 17 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets and depreciation The charity's fixed assets consist of. freehold properties and the subsequent development expense5 of the properties,. leasehold propety and fixtures and fittings which relate to the property. The assets are stated at cost less depreciation. Depreciation is provided at rates Calculated to write off the cost less the estimated residual value of each asset over its expected useful life as follows.. Freehold property.. Leasehold property.. Uxbridge hall.. Fixtures and fittings: No depreciation calculated Over lease lifetime of 1501125 years Over 20 years Over 5 to 20 years Investments Pooled investments are valued using the mid-market price at the year-end date. Changes in the market value of investments are recognised in the Statement of Financial Activitie5. Incoming resources These are included in the Statement of Financial Activities when the charity become5 entitled to the resources, the trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability, Resource5 expended All expenditure is accounted for on an accruals ba515 and has been classified under headings that aggregate costs related to the category. Expenditure 15 Tecognised where there is a legal or constructive obligation to make payments to third parties, it is probablè that the Settlement will be required and the amount of the obligation can be measured reliably. I rrecoverable VAT is charged as an exper)se againstthe classification for which expenditure arose. Funds Unrestricted funds are those funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are those funds which must be spent as income on the particular purposes specified by the donor. Endowment funds are those funds which the charity must hold and retain and not spend as income.
Docusign Envelope ID.. BCA2COC1-620448EA-BC70-36BC5027BAF4 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Cash and cash equlvalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Employee benefits When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the u ridi5counted amount expected to be paid in exchange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. INCOMING RESOURCES FROM GENERATED FUNDS 2025 2024 Donatlons and legacies 470 Charitable Actlvltles Kate Fassnidge Community Hall - Northwood Kate Fassnidge Community Hall - Uxbridge Re-imbursement of Insurance 1,177 6,363 3,157 5,794 3.490 9,284 10,697 Investment Inwme Bank deposit interest Rent received Multi-asset fund income 4.160 63.050 81.239 7,220 61,800 82,713 148A49 151,733 Other Income 300 Total 158.503 162,430
Docusign Envelope ID.. BCA2COC1-620448FA-8C70.368C5027BAF4 19 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 CHARITABLE AcfiviTIES 2025 2024 Grants and donations made: Soci31 & Housing Welfare needs Purchase of Christmas hampers Coffee Mornings 27,394 28.113 2.940 15,688 20,721 3,559 58,447 39,968 Property malntenance and improvement The Cedars repairs and maintenance Property Insurance Kate Fassnidge Community Hall running costs Kate Fassnidge Community Halls depreciation Oflice Equipment depreciation 27.044 4.033 26,110 2.990 1.424 4,221 23,400 3,361 1,487 61,601 32,469 Administration and governance Wages and Salaries Employrnent expenses Employmenttraining Support charges - Legal and clerking Support charges - Estates and valuations Website desig n and hosting Expenses of meetings, refreshments etc Auditors remuneration Managernerntfee Office costs Bank fees 52.705 452 870 2,077 1.080 42 636 7.860 9.825 7.082 50,946 429 1,015 8,124 1,200 36 977 6,720 9,125 5,429 82.629 84,001 Total 202.677 156,438
Docusign Envelope ID." BCA2COC1-620448EA.BC70.368C5027BAF4 20 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 OTHER GAINS/(LOSSES) 2025 2024 Unrealised gainlllossl on investments .044 120,065 1.044 120,065 EMPLOYEES 202S Number 2024 Number Numberof employees: The average monthly number of employees during the year was.. Employment costs Wages and salaries social security costs Employer pension costs 51,379 49,851 1.326 1,095 52.705 50,946 There were no employees whose allnual emoluments were £60,000 and above.
Do¢u5ign Envelope ID, BCA2COC1-620448EA-BC70-36BC5027BAF4 21 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSETS Northwood Uxbridge Fixtures Hall (KFCH) Hall & fittlngs The Cedars Totsl Cost as at 1 April 2024 Addition5 10,000 197,049 101,037 16,952 325,038 10,000 197,049 101,037 16,952 325,038 Development costs.. A5 at 1 April 2024 Development costs this year 139,140 139,140 As at 31 March 2025 149,140 197,049 101,037 16,952 464,178 Depreciation costs.. As at 1 April 2024 Charge for current year 11,559 1,692 13,163 1,424 15,654 1,298 40,376 4.414 As at 31 March 2025 13,251 14,587 16,952 44,790 NBV at 31 Mar¢h 2025 149.140 183.798 86,450 419,388 NBV at31 March 2024 149,140 185,490 87,874 1,298 423,802 lal Bequest by Mrs Fassnidge. Thi5 asset consists of the freehold of the property and land known a5 The Cedars at 66 High Street, the freehold of the land site of 65 High Street "known as Darren House" and freehold of the property and land adjacent to The Fassnidge Memorial Hall, Uxbridge, Middlesex and land adjacent thereto. The original bequest value of £1 0,000 is also shown as the Bequest Capital. Since then £139,140 has been spent on the redevelopment of the Cedars. In 2017 the charity sold the head lease of part of the land at this Uxbridge site to a developer (Howarth Homesl which generated substantial funds for the Trust1£1,575,0001 and a further Overage payment is expected as part ofthe agreement when the development has been formally completed as part ol the Development Agreement. The developrnent includes a new Hall to be used by the local community.
Decusign Envelope ID.. BCcOc1-62o448EA-8C76BcSo27AF4 22 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSETS (Contlnuodl Ib) Northwood Hall - On 2 April 1997 the trust acquired the Northwood Dining Centre for £35,000, with £122,049 spent on the redevelopment of Northwood Hall which was completed by Howarth Homes in 2012. A sale and leaseback arrangement with Howarth Homes was agreed for a terni of 150 years regarding The Community Hall, renamed as Kate Fassnidge Community Hall. During 2017 an additional cost of £40,000 was incurred with Howarth Homes, with the charity purchasing the Northwood site head lease reversion. This is being written down over the life of the agreement. Icl Fixtures and fittings which relate to the Kate Fassnidge Community Hall. are being written down over their expected useful economic life. INVESTMENTS Premium osit Acco ulti-asset Fun her Total As at 1 April 2024 Additions Disposals 9,042 27 19,0001 1,828,076 73,068 1120,0001 512,576 2,349,694 2.477 75,572 1129,0001 69 1,781,144 515,053 2,296,266 Unrealised gain 126.227} 27,271 1,044 NBVat 31 March 2025 69 1.754,917 542.324 2.297.310 NBVat31 March 2024 9,042 1,828,076 512,576 2.349.694
Docu$lgn Envelope ID.. BCA2CoC1-6204-48EBc7fh36BC5O27BAF4 23 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 DEBTORS 2025 2024 Trade debtors Prepayments and accrued income 1.250 5.041 5,576 6.291 5,576 CREDITORS.. Amounts falling due within one year 2025 2024 Accruals and deferred income Other creditors- deposits held 13.241 2,585 19,965 3,008 15.826 22,973 RELATED PARTIES Trustees None of the trustees, or any person connected with them, received any remuneration during the period. Controlling party The charity is controlled by the trustees.
Docusign Envdope ID.. BCA2COC1-620448EA.Bc736BcS027AF4 24 THE FASSNIDGE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 FUNDS Capital Unrestricted Restrirt•d Endowment Bequest Funds Funds Funds Total At 1 April 2024 10,000 1,482,210 1,266,803 2.759.013 Income 158,503 158.503 Expenditure 1202,6771 1202,677) Gainlllossl on investments 18,092 117,0481 1.044 Transfers between funds At 31 March 2025 10,000 1.456.128 1.249.755 2.715.883 The Endowment Fund is made up oftwo funds. The first is a permanent endowment fund as set by the trustees which the Charity must hold and retain and not spend as income. The second fund within the brought forward balance is relating to the Hoenigsberg Memorial Trust Fund. The Trustees consider that the assets acquired from the Hoenigsberg Memorial Trust in the year ended 31, March 2017, consisting of cash of £487,525 and formerly part ofthat Charity's permanent endowment should be treated by them as an addition to the permanent endowment ofthe Charity.