The Woodcote Trust Registered Charity No. 326090 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
The Woodcote Trust TRusfEES' REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CONTENTS Page Reference and administrative details Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the accounts
The Woodcote Trust TRUSTEES, REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 REFERENCE ANO ADMINISTRAnvE DETAILS Charity registration number 326090 Date of trust 6 Aprll 1982 Trustee5 Mrs P A Henstock Mrs S K Satchell Mr D B Angus Chairman Principal address Grooms Cottage Sholebroke Towcester Northamptonshire NN12 8TF Bankers Barclays Bank plc 111 High Street Bedford MK40 INJ Accountants Charity Accountants 2b Wicarage Drive East Sheen London SW14 8RX Investment Managers Charle5 Stanley & Company Ltd 25 Luke Street London EC2A 4AR Independent examiner Mary Ryan. FCC4 DChA Ark Accountancy 58 High Street Ewell Epsom Surrey KT17 IRW
The Woodcote Trust TrUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 20Z4 TRUSTEES. REPORT The Trustees present their report and the financial Statements for the year ended 5 April 2024. Reference and administrative information set out on page I forms part of this report. The financial statements comply with current statutory requirements, the charitys trust deed and the Statement of Recommended Practice- Accounting and Reporting by Charities- SORP applicable to charities preparing their accounts in accordance with FRS 102. Objertives and Activities The purpose of the charity as set out in its governing document is-. 'To pay. apply or transfer the 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 for the purposes of such charitsble bodies. associations and organisations or for such other charitable purposes or objects in such shares and in such manner in all respects as the Trustees may in their ab501ute discretion think fit." The principal activity undertaken by the charity to further its charitable purpose is to make 8rants of funds to other charities. In carrying out these activities the Trustees have had regard to the guidance issued by the Charty Commission on public benefit. Achlevements and Performance During the year 2312023- 81 grants. totaling £56,45012023: E13,450), were made to 2312023- 81 different organisations. No 8rant was made to any individual person. The organisations supported cover a wide range of activities related to human and animal welfare, including community support. Financial Review. Going Concern and Reserves Policy Total income for the year amounted to £48,65512023: £57,956). This consists of dividends on investments, together with a small amount of bank interest. Investment management fees of £8,62212023.' £8,929) and 8ovemance costs of £63012023: £5501 were incurred, leaving £39,403 net income12023'. £48,477). The payment of £56,450 in grants12023: £13,450) therefore meant an operating deficit for the year of £17,04712023: surplus £35.027}. Investment values fell a little overall during the year. Sales of various holdings within the investment portfolio during the year realised a1055 of £17,54512023..1055 £10.5371 whilst the year end valuation produced an unrealised gain of £3,23712023: Ioss £150,592). The overall Ios5 on investments in the year therefore amounted to £14.30812023.. loss £161,129), which. together with net disposals of £9,84112023- additions £1,513}, brou8ht the year end value of the portfolio to £1,224,34212023: £1,248.4911. The result of the above 15 that the total funds of the charity at the end of the year stood at £1,286.47612023'. £1,317,831). The Trustees. preference is to PreSee the value of the investment portfolio. which is managed on their behalf by Charles Stanley & Company Ltd. For this reason, the value of the portfolio 15 regarded by the Trustees as designated funds. This means that, of the total funds, free reseNes at year end amounted to £62,13412023-. £69.3401. Given the low level of administrative costs incurred by the charity, the Trustees believe that this level of reserves is adequate to ensure the ongoin8 viability of the charity. The future Major uncertainties, both political and economic, continue to create a high degree of volatility In the investment market. affecting both value and income, and could perslst for Some time. However. this is not considered likely to prevent the ongoing operation of the charity. The general reserves of the charity enable the current level of grants to be maintsined but the trustees recognize that this situation will need to be monitored in future and, if necessary, the total amount paid in grants might need to be limited. Structure. Governance and Management The charity is a charitable trust. established and governed by a settlement dated 5 April 1982 by the original settlers. Mr CSJ Summerlin and Mrs PR Summerlin. It was registered as a charity in England and Wales on 26 April 1982.
The Woodcote Trust TRUSTEE5' REPORT AND FINANCIAL StATÉMENtS FOR THE YEAR ENDED 5 APRIL 2024 The Trustees who seNed during the year are listed on page l. The Trustees are responsible for the governance of the charity and, with the exception of accountancy work, also undertake the day to day management of the charity. All Trustees give their time voluntarily and receive no benefit from the charity. Statement of responslbllitles of the TnAStees Law applicable to charities in En8land and Wales requires the Twstees to prepare finanual ststements for each financial year which give a true and fair view of the charity's financial activities durin8 the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and: select 5Ultable 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 UK Accounting Standards and statements of recommended practice have been followed. subject to any material departure5 disclosed and e¥plained in the financial statements 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 adequate accounting records that disclose with reasonable accuracy at any tlme the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom goveming the prepardtion and dissemination of financial statements may differ from le8islation in other jurisdictions. Independent Examiner Mary Ryan of Ark Accountancy has been appointed as the charitys independent examiner. having expressed her willingness to act in that capacitv. Approved by the Trustees and signed on their behalf by P A Henstock Chairman ,, J/ '- a7
The Woodcote Trust TRUSTEES. REPORT AND FIPW40AL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Independent Examlners, Report to the Trustees of The Woodcote Trust I report on the accounts for the year ended 5 April 2024 set out on pages fNe to nine. Respective responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for thi5 year (under sertion 144{2) of the Charitie5 Art 2011 (the 2011 Artll and that an independent examination is required. It is my responsibility to: examine the accounts under section 145 of the 2011 Art); follow the procedures laid down in the General Direction5 given by the Charity Commissioners (under section 14515llbl of the 2011 Actl- and State whether particular matters have come to my attention. Basis of Independent Examiners. Statement My examination was carried out in accordance with the General Directions gtven by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 includes consideration of any unusual items or disdosure5 in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence thatwould be required in an audit, and consequently no opinion 15 given as to whether the accounts present a 'tnJe and fair view ' and the report is limited to those matter5 set out in the statements below. Independent examlners, statement In connection with rny examination In connection with my examination, no matter has come to my attention: 111 which gives rne reasonable cause to believe that in any material respect the requirement5: to keep accounting records in accordance with section 130 of the 2011 Act- and to prepare a¢¢ounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or 121 to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached Mary Ryan. FCCA, DChA Ark Accountsncy 56-58 High Street Ewell Epsom Surrey 17 IRW Date.. OIX, Il4
The Woodcote Trust TRUSTEES. REI>ORT AND FINANaAL STATEMENtS FOR THE YEAR ENDED 5 APRIL 2024 srATEMENT OF FINANaAL AcrnffriES Un$tritted funds 2024 2023 Incoming re50urce5 Interest receivable Investment income 745 109 57,840 47,910 Other Total inwming resOUe5 48,655 57,956 Res¢)ur¢es expended Charitable activities: Grants awarded 56,450 8,622 13.450 8,929 550 Investment management costs Accounting arbd independent examination Sundry expenses Totsl resources expended 65,702 22,929 Net incomingjloutgoingl resources {17,047) 35,027 Other recognised gains11055e5 Gain/lloss1 on investments 114,308) 1161,1291 Net movement In funds 131355) {126,1021 Fund balances brought forward I,31731 1.443,933 Fund balances canied fi)n¥ard 1286A76 1,317,831 All movements derive from continuing artivitie5. All recognised gains and losses are shown above.
The Woodcote Trust TRUSTEES. REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 8ALANCE SHE Note 2024 2023 Fixed assets Investments 1224,342 1,248,491 Current assets Cash at bank and in hand Sundry debtors 62.123 1,191 70,210 230 Creditors Amounts falling due within one year 11,1801 11,i(K)I Net current assets 69,340 Totsl net assets 1286,476 1.317,831 Represented by. Unrestricted funds Designated General 1.224,342 62.134 1,248,491 69,340 1286A76 1,317,831 Approved by and signed on behalf of the Trustees; Trustee: Date of approval: l/-/o-Z¥
The Woodcote Trust TRUSTEES. REPORT AND FINANQAL STATEMEPItS FOR THE YEAR ENDED 5 APRIL 2024 NOTES TO THE ACCOUNTS I ACCOUINTING POLiaES a) Statutory information The Woodcote Trust is a charitsble trust, established and governed by a settlement dated 5 April 1982 by the original settler5. Mr CSJ Summerlin and Mrs PR Summerlin. It was registered as a charity in England and Wales on 26 April 1982, registered number 326090. Its registered address and principal place of business is Grooms Cottage, Sholebroke, Towcester NN12 8TF. b) Basis of preparing the financial statements The accou4ts have been prepared in accordance with the Charities SORP IFRS 1021'Accounting and Reporting by Charities: Statement of Recomn4ended vractice appiicabie to charities preparing their accounts in atcor(iance with the Financial Reporting Standard applbcable In the UK and Republic of Ireland IFRS 1021 leffertive l January 2015}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charitie5 Act 2011. The accounts have been prepared to give a 'true and fairf view and have departed from the Charf(ies (Accounts and Reports) Regulation 2008 only to the extent required to provide a 'true and fair vie. This departure has involved following Accountlng and Reporting y Charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IIS Iodj Issueo on Ib july 2014 ratner than ii)e Accounting and Neporring by ihariiies- Statemeni of Kecommena"eo Practice effective from l April 21KsS which ha5 since been withdrawn. Assets and liabilities are inwtially recoEnized at historical cost or transaction value iinless othprwise statp.d in thp relevAnt 3cr.oiintin policy or note. c) Public benefit entity The charity meets the delinttion of a public benefrt entity under FRS 102. d) Going concern The Trustees consider that there are no material uncertainties abwt the charity's ability to contlnue as a going COnrn. The Trustees do not consider that there are any sources of estimation uncertainty at the reFX)rtirTrg date that have a significant risk of causlng a material adlustment to the carrwng amounts of assets and liabilities within the next reporting perlod. el Incorne Dividend Income is recognized when reived by the investment manager, Charles Stanley Ltd.. who hold the funds orb behalf of the charity. Interest receivable Interest on funds held on deposit 15 included when receivable and the amount can be measured reliably bythe charity; this Is normallv upon notification of the interest paid or payable by the bank. gl Re50urce5 expended Grants payable are recognised when an undertaking to pay the grant duringthe financial year ha5 been entered into or the payment is made. whichever is the sooner. Investment management fees are recognized when the investment manager debits the cash account held on behalf of the charitv. All other expenditure 15 recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obIltiOn can be weasured reliably. h) Investments Investments are included in the accounts at nN3rket value at the end of the financial year. Realised ènd unrealised gains and losses are recognized in the year in which they arise. Taxation The charf(y is exempt from income tax as all its incorr£ is charitable and is applied for charltable purposes.
The Woodcote Trust TRUSTEES. REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 2 GRANTS AWARDED The following grants were awarded and paid during the year: Payee Animals in Need Blue Cross Blind Veterans UK Brook Hospltal for Anlmals Cinnamon Trust Dega Project- Age UK Dogs, Trust Dr Barnado's Helen and Douglas Hospi Heros Homes for Hounds Hope Rescue Inoepenaent Age Labrador Rescue M3ggie's Oxford Many Tears Animal Reserve Nowzad Dogs OxFordshire Animal Sanctuary PDSA Royal Society for the Blind Tiggy Winkles UCLH WNAA 3,000 3,000 3,000 3,000 2,(K)O 2,000 2,000 250 4,000 2,1X)O 4,OCrf) 3,0(X) 1,000 4,0 3,000 2,000 2,(KJO 2,000 200 2,000 3,1XJO 3,000 56.450 Totsl grants The following grants were awarded and pald during the prioryear. Payee Brook Hospital for Animals ur Barnado's Homes for Hounds Hope Rescue Manv Tears Animal Reserve Nowzad Dogs Royal Society for the Blind UCLH 2,000 3,000 2,0(K) 3.000 2,000 200 I,OLKJ 13,450 Total Erants 3 INVESTMENTS Histowi¢ cost prior year Market value prior year Hlstoric Cost thi5 year Market value this year Balance blf Disposals Acquisitions Unrealised gainlllossl on revaluation Balan clf 980.786 {117,7111 144,291 1,408,107 1153,3151 144.291 1,007,366 1168,1021 139,223 1,248,491 1166.609} 139,223 1150,5921 3,237 1,007,366 1248A91 978,487 1224,342 Proceeds from disposals Realised gains/llossesl 142.799 110,5371 149,064 117,5451
The Woodcote Trust TRUSTEES. REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 4 CASH AT BANK AND IN HAND Thlsyear Prior year Barclays Communsty account Barclays Business Premium account Cash ileld oy investmeni niaiiagei- Totsl 51x1 47,425 53,891 62.123 70,210 5 DEBTORS This year Prior year Accrued income 1,191 230 6 CREDITORS Amounts falling due within one year: Dnr*r iJa2 Accrua15 1,180 I,IcKJ