The Woodcote Trust Registered Charity No. 326090 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 The Woodcote Trust TrUSTEES' REPORT AND FINAfK1ALsTATE￿flTS FOR THÉ YEAR ENDED 5 APRIL 2023 CONTENTS Page Reference and administrative details Trustees, report Independent examinerfs report Statement of financial activrties Balance sheet Notes to the accounts The Woodcote Trust TRUSYEES. REPORT AND FINANQAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 REFERENCEAND ADMINISTRATIVE L￿rA115 Charfty reglstratlon number 32f(IXI Date of trust 6AkWtI 1982 Mrs P A Henstock Mrs S K Satche15 Mr D B Angus Chalm)an Principal address GrorKns Cottage Sholebrokè Towcester Northamptoftshi NN12 3TF BankeF5 Barclays 8aTrk 111 High Street Bedford MK40 INJ Charity Accoufttsnts 2b Vic3rage Drive East Shee London SW148RX IINesim•nt Manager5 (hades Stanley & Company Ltd 25 Luke Street Lond EC2A 4AR lThJependent examlnÈr Mary Ryan. FCCA C)ChA Actountar 5&58 High Street Ewell Epsom rrey Kf17 IRW The Woodcote Tn¢st TRUSTEES. REPORT AND FIP4ANaALSTATEME14TS FOR ThE YEAR ENDED S APRIL 2023 TRUSTEES. REPORT The Trustees present their teport and the financial statementsfor the yearended 5 April 2023. Reference and administrative it)formation Set out on page I lorms part of this report. The financial statements comply with current Statutory requirements. the charitys trust deed and the Statement of Recommended Prartice-Accountin8 and Reporting by Charities= SORP applicable to charities p￿paring their accounts in accordance wth FRS 102. Objecti¥05 and Artivities The purpose of the charity as set in its governing document is= o pèy. apply or transferthe whole or any part or parts of the capital and income of the trust fund at any time or from time to time to or forthe purposes of such charitsble bodie5. asscKÉations and organisations or for such other charitsble purposes or objects in such Sha￿ ènd in such manfter in all respects as theTrustees may in their absolute discretion think fit.. The principal activity undertaken by the tharlty to further its charitsble purpose is to make gfants of funds to other charities. In carrying out these activitie5 the Trust￿ have had regard to the guidance issued bythe Charity Commission on public benefit. Athievements and ￿rf0mMnce During the year 812022.. 351 grants. totsling £13.45012022= £54.7501, We￿ made to 812022= 351 different organisations. No grant was made to any individual perwn. The organisation5 SUPPOrted cover a wide range of artNities related to hijman and animal welfare. induding community suppor Financial Revlew, Going Concern Reserves PollLy Total income for the year amounted to £57.95612022'. £57.6441. This consists of dividends on investments. tLEether with a very small 3mount of bank interest. Investment management fees of £8.92912022= £9,27713nd governance costs of £55012022.. £5771 were incurred, leaving £48.477 net income12022.. £47,7￿1. The payment of £13.450 in grants12022.. £54.7501 therefore tneant an operatlng surplus for the year of £35.02712022= deficit £6.9601. Investment values fell overJl during the year. Sales of various holdin8S Within the irwestsnent portfolio during the year realised a loss of £10,53712022'. gain £6.9491 whilst the year end valuation produced an unrealised loss of E150.592120221'. gain £51,1821. The overall loss on investments in the year the￿lOre amounted to £161.12912022'. gain £58.1311, which. together with net additions of £1.51312022.. £11.8601. brought theyear end value of the porttolio to £1.248.49112022.. £1,408,107?. The result of the above is that the total funds of the thartty at the end of the year stood at £1.317,83112022.. £1,443,933). The Trustee5' preference is to preserve the value of the investment portfolio. which 15 managed on thetr behalf by Charles Stanley & Company Ltd. For this reason. the walue of the portfolio is regarded by the TTu5tees as designated funds. This means that, of the total funds. free resetrves at year end amounted to £69.34012022.. E35.8261. Given the low level of 8dministrative costs incurred by the charity. the Trustees believe that this level of reserves Is adequate to ensure the ongoing viability of the charity. The futu Whi15t the impact of the Covid-19 pandemic appears to have diminished s￿nIficant1¥, major uncertainties have arisen from recent events, both political and economic. There remaiFLS a high degree of volatility in the investrnent market. both in terms of value and income, which could persist for some time. The general reserves of the charity enable the current level of grants to be maintainÈd de5Plte any 5¢gnificant drop in the level of diwdend5. The increase in those ￿SerVeS in the year under rewew has strengthened the position but the trustees retogniie that this situation will need to be monitored in future and. if necessary, the total amount paid in grants might need to be limited. The Woodcote Trust TRUSTEES. REPORT AND FINANaAL STATEMEPItS FOR THE YEAR ENDED S APRIL 2023 Strurture. Governance and Manazement Thè charity is a charitable trust. estsblished and governed by a sethement dated 5 April 1982 by the original settlers. Mr CSJ 5ummerfin and Mrs PR Summerlin. It was rewstered as a chartty in En￿and and Wales ￿ 26 April 1982. The Trustees who served during the year are listed ￿ page l. TheTnJstees a￿ responsible For the governance of the charity and, with the exception of accountancywok*, also undertake the day to day management of the charity. All Trustees give their time voluntarily and receive no beneftt from the tharity. Staternent of reS￿nsIbIlitieS of the TrustÈes Law applicable to charities In England and Wales requires the Trnstee5 to prepare financial statements for each financial year which give a true and fairview of the charfty's financial actiwtie5 during the period and of its finantial position at the end of the period. In preparing financi81 ststements giving a true and fairview, the Trustees should follow best practice 3nd'. select sur(able ￿COUntIng policie5 and then apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent stste whetherapplicable UK Accounting Standards and statements of recommended practice h￿e been fdlowed. subject to any material departures disc105ed and explained in the finanoal statements prepare the financial ststements on the going concern basi5 unless it is inappropriate to presume that the charity wlll continue in operation The Trustees are respOn￿bIe for keeping adeouate accounting ￿cordS that disd05e reasonable accuraLry at any time the financial position of the charity and enable them to ensure thatthe financtal statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence fortaking reasonable steps for the prevention and detection of fraud and other irreguLartties. The Trustee5 are responsible forthe maintenance and integrity of the corporate and finanaHI information included on the charity's website. Legislètiori in the United Kingdom goveming the preparation and d5ssemination of financial statements may differfrom legislation in other jurisdictions. Indepèndent Examlner Mary Ryan of Ark Accountancy has been appointed as the charitls sndependent examiner. hawng expressed her willingness to act in that capacity- Approved by the Trustees and signed on thelr behalf by G? L)L P A Hensto Chainnan The Woodcote Trust TRUSTEES. REPORT AND FINAIKIAL STATEMENT5 FOR THE YEAR ENDED 5 APRIL 2023 lTrdependent Examiners, Report to the Trustees of The Woodcote Trust I report on the accounts for the year ended 5 April 2023 set out on page5 five to nine. Respective responsibilities of Trurtees and Examlnèr The chaTitys trustees are responsible for the prèparation of the accounts. The charity's trustees cons*der that an audit is not quired for this year lunder secuon 144121 of the Charities Act 2011 Ithe 2011 Actll and that an independent examination is required. It is my responsibility to: examine the accounts under section 145 of the 2011 Actl: follow thè procedvres laid down in the General Direction5 &￿Ven by the Charity Commissioners (under section 14515llbl of the 2011 Actl- and state whether particular matte¥5 have come to my attention. Ba515 of Independent Examiners, Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting recor(Is kept by the charity and a Comparison of the accounts presented with those record5. It also includes consideration of any unusual items ordisclosures in the accounts. ènd seeking explanations from you as trustee5 Con￿rning any such matters. The procedures vndertakers do not provide all the eVtde￿￿ that would be required in an audit, ènd consequently no opinion is given as to whether the accounts present a 'true and fair ￿eW ' and the report is limited to those Matte￿ set out in the ststement5 below. Independent e¥aminers' stJtemeTrt In confiertion with myexamination In connection with my exarnination, no matter has come to myattention.. 111 which gives me reasonable cause to believe that in any material respect the reqLtirements'. to keep accounti￿ records in accordance with sertion 130 of the 2011 Art.. and to prepaye accounts which accord with the attounting records and comply wtth the accountin8 requirements of the 2011Art have not been met.. or 121 to which, in my opinion. attention should be drawn in order to enable a proper understsnding of the accounts to be reached Mary Ryan, FCCA. DChA Ark Accountancy 56-58 High Street Ewell Epsom Surrey 17 IRW Date: Qt The Woodcote Trust TRUSTEES, REPQRT AND FINANaALSTATEMENT5 FOR ThE YEAR ENDED S APRIL 2023 STATEMENTOF FINANaAL ACTNinÉs unrestr￿e￿ funds 2023 2022 Incomlng resources Interest receivable Investment incor 109 57WI 57,640 Other Total Incomrng re50ur 57.956 57,644 Resovr(es expended Charitable activities.. Grants awarded 50 54.750 9,277 577 Investment management costs countin8and independent ex3mination Sundry expenses 8.919 550 Total resources empwxled 22.929 Net Incomin￿lOUt8O1￿? reSoUr￿S 35m7 16,9601 Other rwnised gainsl1055e5 Gain/llossl on investments 1161.1191 58,131 Net rhN)vement in funds 1126,1021 51,171 Fund balances ￿M￿htf0￿wdrd 1143,933 1.392,762 nd balancÈ5 carried forward I?17￿1 1.443.933 All movements derive from continuingactivities. Al reccwiised KJinsaThJ1055e5 are shown above. The Woodcote Trust TRUSTEES. REPQRT AND FINANtjALsfAIEMEf￿S FOR THE YEAR ENOED S APRIL 2023 BALANCE SHEET 2023 2022 rixed assets Investments 1248A91 1.408,107 Cash 3t bank and in hand Sundry debtors 70210 36.926 Amount5 falling due within one year 11,1001 11,i(x>i Net ixirrent assets 69340 35.826 Total net a55ets lJ17,831 1,443,933 Repres•tted by. Unreslrlcted fwKIs Designated General 1.248,491 1.408,107 35,826 1317.831 1.443.933 Approved by and sI￿￿d on behaff oftl* Tnistees: Truste T-L Oate of approval: i&J The Woodcote Trust TrUSTEE5' REPORT AND FINANaAL STATEMEPITS FOR THE YEAR ENDED S APRII 2023 NOTES TO THE ACCOUKtS I ACCOUNTING POLiaES al Statutory information The W¢)od£ote Trust is a charitable tnJsL established and governed by a settlement dated 5 April 1982 by the original settlers, Mr CSJ Summerlin and Mrs PR Summeflin. It w35 registe￿￿ as a thartty in England and Wale5 on 26 April 1982, registered number 326CW. its registered add￿$ and prinapal place of business is Gr00rn5 Cottage. Sholebroke. Towcester NN12 8TF. bl Ba515 of preparlry t￿financIal stateM￿ts Theaccounts ha￿ prepared in accordan￿wIth the CharitiesSOAPIFFiS 1021'Accountingand Rerorting by Charities.. Statement of Recommen(Jed Practice applicable to chaf((ies p￿￿[ing their actounts in accordante wtth the Financial Reporting Standard applicable in the UK and Republic ol Ifeland IFRS 1021 leffectNe l January 20151,, Financial Reporting Stsndard 102 The Financial RekXJrtingStsndard applKable in the UK arKI RepulAK of IreLand' and the Chaffties Att 2011. The accounts have been p￿pared to gfve a 'true and tsirf VEW and have departed from the Charities Ikcounts and Rewrtsl Regulations 2￿)8 oftly to the extent required to pro¥lde a'true and fairview. This departUTe has invofved following Accounting and Reporting bycharities prepaTingrhÈiraccountsinaccordancewiththeFinancial Rep)rtingStandard applicable inthe UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014 rather than the Accounting and ReF¥)rting by Charities: Ststement of Recommended Practice effectivefrom l Apr¢1 2CI)5 which has since withdrawn. Assets and liabiltbes are Initialty recognized at historical cost ortransaction value unle5SOtherwise stated In the ￿levant accounting poliry or note. ¢1 Public benefft •nUty The charity rneetsthe definition of a public benefft entity un(￿r FILS 102. dl Going concern The fnjstees consi1krthatthe￿ a￿ material ￿r￿ertaintlesabo￿t the charity's atmlityto cont(nue as a going CO￿em. The Trustees Llo n0tcons1derthatthe￿a￿aTrys0urCes of esbrnation uncertaintyaithe rewrtingdate that have a significant r(sk of causing a rnaterial adlustmeot to the carrylng amuntsof assets and liabiltheswithin the next reporting ￿rIod. el In¢ome DNidend sncorrE is reCr>gE)1￿ wheTh receNed ty tho in¥estment manager, (hades Stsnley Ltd., vtho hold thefunds on behalf of the charty. Interest recelvable Intereston funds held on deposit isincludedwhen receivable and theanN)urf can be rr￿aSured reloblybythe charliv.. thls is nom1311v pofi not&ication of the iTrteresr paid or payatAe bythe bank. Resour¢e5 expended Grants payable are [ecogn￿ed when an undertaking to paythe ardllt duringthe financkilyear has teen ente￿d iritOOf the payment is made, whichever 15 the sooner. lftve5ttnerrt management fees are recoBnized when the tnvesbnent rr4inager debitsthe cash account held on behalf of the charity. All other expenditure is recognwl once there 15 a Wl ortoftstructwe Obligat￿ to make a paytnentto a third party, it 6 probable that *ttSernent will LE TequSred andthÈ aFN)Unt of the obligation can be rwsured reliab￿. h) Investments Investrnents are included in the accounts ai market value at the end of the finartral year. Realised aThJ UTh￿3115ed iains and losses are recognized in ihe year in wh¢ch theya¥ise. il Taxation The charity is exempt from income tax as all tt5 irKome ￿ char4trtAe and isapplied*￿ charitable PUTP05es. The Woodcote Trust TRUSTEES. REPORT AND FINANaALSTATEMEPIt5 FOR THE YEAR ENDED S APRIL 2023 2 GRAMts AWARDED The followinggrants were awarded and paid dullngthe year. Payee Br(￿k Hospital for Animals Dr Barr￿d0'S Hornes*or Hounds Hope Rescue Many Tears Animal Reser%E Now2ad Does Royal s£￿￿tyfOrthe Blind U(IH 2,OCrf) 250 2.000 3,0(KJ 2(KJ 1,000 13,450 Totsl 8raTrts The folk>wing grants wewt awarded and paid dvrirythe prKJryear. Payee Alzhelff￿r'5 Society Animals in Need Aspley Guise Crick£t aub BBO Wildlrfe Trust Blue Cross Blind Veterans UK Brrftish Hotse 8ro)k Hospital forAnimèls Children's Trust Cinnamon Trust Deea Project- Age UK Dogs, Trust Donkey Sanctuary Dr Barnado'5 Helen and 0￿BlaS Hosim Heros Home5 for Hounds Hope Resc iabrddor Rescue Maewe's Oxft)r£f Mail Force Charity - Ukraine Arveal IAanyTearsAmimal Reserve Marie Cur Nowzad Do85 PDSA 2,0(K> 2.0( I,o(K) 2.0(Kl 2.0 250 i.o(K 2,0(K) 1,0 Redw¥ng5 Horse Sanctuary RNLI Royal Socfetyforthe Blir SSAFA Stroke Assooatlon Tiggy Winkles Versus Arthrttis Willen HospKe WNAA World Animal ProrettR)n Totsl grants 211) 54.750 The Woodcote T￿￿t TRilSfEES' REPORT AND FINANaAL STATEMEfiis FOR THE YEAR ENDED S APRIL 2023 3 INVESTMENTS Historic Market value xioryear Historic Market value this year witiryear thrs year Balance bff DisP05als Acquisitions Unre31ised galnlllossl on aluation Balance clf 936.m 178,9871 123.(M)I 1.338.116 1104,1921 I23.C￿l 980,786 1117,7111 144,291 1.408,107 1153,3151 144,291 51.182 1150,5921 980.786 I,4￿.107 IA￿?￿66 1248,491 Proceedsfrom cfsw5a Realised ￿1￿51(1055eSI 111.141 6349 142.779 110.5371 4 CASH AT BANK AND IN HAND Prioryear Thls year Barclays Comrnunityaccotsnt Barclay5 BU￿ne$S P￿rnI￿rn acC￿nI Cash held by invesrrrtnt rnanager Totrl 16,402 20.024 36.926 53,891 15,819 70,210 S CREDITORS Amounts falling due wÉth4n one year. Priw year This year Accrua15 I,i(NJ 1,100