2025-04-05-accounts - The Woodcote Trust

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TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE VEAR ENDED § APRIL 2075

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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

CONTENTS
	Page
Reference and administrative details	i
Trustees’ report	2-3
Independent examiner’s report	4
Statement offinancial activities	5
Balance sheet	6
Notestotheaccounts	7-9

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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

AND ADMINISTRATIVE DETAILS
Charity registration number	326090
Date oftrust	6April 1982
Trustees	iVirs PA Henstock	Chairman
	Mrs S K Satchel!
	MrDB Angus
Principai address	Grooms Cottage
	Sholebroke
	Towcester
	Northamptonshire
	NN12 8TF
Bankers	Barclays Bank plc
	111 High Street
	» Bedford
	MK40 1NJ
Accountants	Charity Accountants
	2b Vicarage Drive
	East Sheen
	London
	SW14 8RX
investment Managers	Charies Stanley&Company	itd
	25 Luke Street
	London
	EC2A 4AR
independent examiner	Mary Ryan, FCCA, DChA
	ArkAccountancy
	56-58 High Street
	Eweli
	Epsom
	Surrey
	KT17iRW

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The Woodcote Trust

; TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

TRUSTEES' REPORT

The Trustees present their report and the financial statements for the year ended 5 April 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity's 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.

Objectives 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 charitable 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 absolute discretion think fit.” The principal activity undertaken by the charity to further its charitable purpose is to make grants of funds to other charities.

In carrying out these activities the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Achievements and Performance

During the year 4 (2024: 23) grants, totaling £7,450 (2024: £56,450), were made to 4 (2024: 23) different organisations. No grant was made to any individual person. A grant of £2,000 made in the previous year to Nowzad Dogs has been cancelled because the cheque was not presented by the payee. This brings the net grants payments to £5,450 for the year under review.

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 £44,234 (2024: £48,655). This consists of dividends on investments, together with a small amount of bank interest. Investment management fees of £8,693 (2024: £8,622) and governance costs of £643 (2024: £630) were incurred, leaving £34,898 net income (2024: £39,403). The payment of £5,450 in grants (2024: £56,450) therefore meant an operating surplus for the year of £29,448 (2024: deficit £17,047).

It was another disappointing year for investments. Sales of various holdings within the investment portfolio during the year realised a loss of £1,927 (2024: loss £17,545) whilst the year end valuation produced an unrealised loss of £52,856 (2024: gain £3,237). The overall loss on investments in the year therefore amounted to £54,783 (2024: loss £14,308), which, together with net disposals of £8,291 (2024: disposals £9,841), brought the year end value of the portfolio to £1,161,268 (2024: £1,224,342).

The result of the above is that the total funds of the charity at the end of the year stood at £1,261,141 (2024: £1,286,476). The Trustees’ preference is to preserve 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 is regarded by the Trustees as designated funds. This means that, of the total funds, free reserves at year end amounted to £99,873 (2024: £62,134). Given the low level of administrative costs incurred by the charity, the Trustees believe that this level of reserves is adequate to ensure the ongoing 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 persist 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 maintained 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

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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Summerlin and Mrs PR Summerlin.

It was registered as a charity in England and Wales on 26 April 1982.

The Trustees who served during the year are listed on page 1. 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 responsibilities of the Trustees

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during 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 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 UK Accounting Standards and statements of recommended practice have been followed,
subject to any material departures disclosed and explained 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 time 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 taking 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Independent Examiner

Mary Ryan of Ark Accountancy has been appointed as the charity’s independent examiner, having expressed her willingness to act in that capacity.

Approved by the Trustees and signed on their behalf by Wiens te P A Henstock Chairman

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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Independent Examiners’ Report to the Trustees of The Woodcote Trust | report on the accounts for the year ended 5 April 2025 set out on pages five 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 this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

e@ examine the accounts under section 145 of the 2011 Act); e follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
e 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 given 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 also includes consideration of any unusual iterns or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view ' and the report is limited to those matters set out in the statements below.

independent examiners’ statement In connection with my examination

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

e to keep accounting records in accordance with section 130 of the 2011 Act; and

e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

May & he"

Mary Ryan, FCCA, DChA Ark Accountancy 56-58 High Street Ewell Epsom‘ Surrey KT17 1RW Date: ?Fed | le jas

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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

STATEMENT OF FINANCIAL ACTIVITIES

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||||||| |---|---|---|---|---|---| |Unrestricted|funds| |Note|2025|2024| |£|£| |Incoming|resources| |Interest|receivable|1,035|745| |Investment income|43,199|47,910| |Other|=|-| |Total|incoming|resources|44,234|48,655| |Resources|expended| |Charitable|activities:| |Grants awarded|2|5,450|56,450| |Investment|management|costs|8,693|8,622| |Accounting|and|independent|examination|630|630| |Sundry|expenses|:|13|-| |Total|resources expended|14,786|65,702| |Net|incoming/(outgoing)|resources|29,448|(17,047)| |Other|recognised|gains/losses| |Gain/(loss)|on|investments|3|(54,783)|(14,308)| |Net movement|in funds|(25,335)|(31,355)| |Fund|balances|brought forward|1,286,476|1,317,831| |Fund|balances carried forward|1,261,141|1,286,476|

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All movements derive from continuing activities. All recognised gains and losses are shown above.

The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

BALANCE SHEET

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Note 2025 2024
£ is £ £
Fixed assets
Investments 3 1,161,268 1,224,342
Current assets
Cash at bank and in hand 4 99,113 62,123
Sundry debtors 5 1,940 1,191
Creditors
Amounts falling due within one year 6 (1,180) (1,180)
Net current assets 99,873 62,134
Total net assets 1,261,141 1,286,476
Represented by:
Unrestricted funds
Designated 1,161,268 1,224,342
General 99,873 62,134
1,261,141 1,286,476
Approved by and signed on behalf of the Trustees;
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Trustee: SH (ai Gan K_
Date of approval: we) - // = Pe )(a
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The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

NOTES TO THE ACCOUNTS

1 ACCOUNTING POLICIES

a) Statutory information The Woodcote Trust 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, 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 accounts have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011.

The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charity meets the definition ofa public benefit entity under FRS 102.

d) Going concern

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income Dividend income is recognized when received by the investment manager, Charles Stanley Ltd., who hold the funds on behalf of the charity.

f) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Resources expended Grants payable are recognised when an undertaking to pay the grant during the financial year has 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 charity.

All other expenditure is 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 obligation can be measured reliably.

h) Investments Investments are included in the accounts at market value at the end of the financial year. Realised and unrealised gains and losses are recognized in the year in which they arise.

i) Taxation

The charity is exempt from income tax as all its income is charitable and is applied for charitable purposes.

The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2 GRANTS AWARDED

The following grants were awarded and paid during the year:

Payee	ie
Dr Barnado's	250
Homes forHounds	5,000
Royal Society forthe Blind	200
Whittlebury Charity	2,000
Total grants	7,450
Less, prior yearcheque not presented: Nowzad Dogs	(2,000)
Netgrants	5,450

The following grants were awarded and paid during the prior year:

Payee				if
Animals in Need				3,000
Blue Cross				3,000
Blind Veterans UK				3,000
Brook Hospital forAnimals				3,000
Cinnamon Trust				2,000
Dega Project—Age UK				2,000
Dogs' Trust				2,000
Dr Barnado's				250
Helen and Douglas Hospice				4,000
Heros	:			2,000
Homes for Hounds				4,000
Hope Rescue				3,000
Independent Age				3,000
Labrador Rescue				1,000
Maggie's Oxford				4,000
Many Tears Animal Reserve				3,000
Nowzad Dogs				2,000
Oxfordshire Animal Sanctuary				2,000
PDSA				2,000
Royal Society forthe Blind				200
Tiggy Winkles				2,000
UCLH				3,000
WNAA				3,000
Total grants				56,450
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INVESTMENTS
	Historic	Market	Historic	Market
	cost	value	cost	value
	prior year	prioryear	thisyear	this year
	£	£	£	£
Balance b/f	1,007,366	1,248,491	978,487	1,224,342
Disposals	(168,102)	(166,609)	(144,449)	(148,,729)
Acquisitions	139223	139,223	138,511	138,511
Unrealised gain/(loss) on revaluation		3,237		(52,856)
Balance c/f	978,487	1,224,342	972,549	1,161,268
Proceeds from disposals		149,064		146,802
Realisedgains/(losses)		(17,545)		(1,927)

3 INVESTMENTS

The Woodcote Trust

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

4 CASH AT BANK AND IN HAND

CASH AT BANK ANDAND IN HAND
	Thisyear	Prioryear
	£	£
Barclays Community account	500	500
Barclays Business Premium account	84,715	47,425
Cash held by investment manager	13,898	14,198
Total	99,113	62,123

5 DEBTORS

		This year	Prioryear
		E	f
	Accrued income	1,940	1,191
6	CREDITORS
	Amounts fallingdue within one year:
		This year	Prioryear
		£	£
	Accruals	1,180	1,180