THE FOSSEY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Page Legal and administrative inforniation Trustees, report Independent Examiners, report Statement of financial activities Balance sheet Notes to the financial statements THE FOSSEY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees R Bretten Mrs M G Brclten MrsSACox Principal address Sundial House 37 Weston Road Edith Weston Rutland LE15 8HQ Registered Charity Number 326534 Aceountants, Bentens Chartered Certified Accountants Abbey14ouse 5114igh Street Saffron Walden Essex CBIO IAF Bankers Coutts & Co 440 Strand London WC2R OQS PrimAry object of charity To secure thc continuation of religious services at the Churches of si Mary Cjreai Lvcrsden and St Flelen Liitle Eversdcn and the maintenance and irnprovement of thc fabric of those churches. THE FOSSEY CHAIUTABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 'rhe Irustees piesent their report and the financial statements for thc year ended 30 Junc 2024. Constitution, objects and policics 'I"he chai'itable trust is constiluted by a trust deed dated I st February 1984, and has as it8 primary object the .8¢curing of the continuation of religious services at the Churchcs of St. Mary, tircat Eversden and St, 14elen, Little Eversden, and tlie maintenance and improvement of the fabric of those churchcs. The policy of the trust is to invest its capital funds on a conserv(Itive basis to generate iiiconie to apply in the pursuit of its objects. Development, activities and achievements this year D￿illg the year the followin donations were made: - The Fai'mland Museum £èooo Financial Review The funds I'eceived by the Trustees during the year have been placed with Coutts & Co for inveslment in the equity markets. Future dcvclopments It is ex ected that the investments made b tlie Trustees will roduce a 8kgnificant annual income able to e applied to promoting the principa , and other, chai'itabye objects of the Trust. Trustees Details of the Trustees al'e given on Page l.The Charily has the power to appoint addilional Ti'ustees as it considers fit to do so. h#tyFOSI14F THE FOSSEY CHARITABLE TRusr TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 (Continued) Statemellt of trustces, responsibilities The trustees are I'equired io prepare financial statements for each financial year which give a truc and fair view of the slate of affairs of the trust and of the income and expenditure of the trust foi. Ihat pcriod. In prepai'ing those financial statements. the trustees are rcquired to: Select suitable accounting policies and then apply them consistently: Make judgements and estimates that are reasonable and prudent; State whether the policies adopted are in accordance with applicable accounting standards and slatenients of recommended PLactice, subject to any material depaitures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropi'iate lo presiime that the trust will continue in operalion. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the ti￿St and enablc them io ensure that the financial Statements comply with relevant legislation. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention of fraud and other irregularities. Approval This report was appi'oved by the Irustees on 15 March 2025 and signed on iheir behalf. G R BREtTTEN Chairman ¢hy*iF06ilq7A INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE FOSSEY CHAIUTABLE TRUST I report on the financial statrments of ihe charitable trust for Ihe yer ended 30 June 2024 which arc set out on pages 5 to 8. IILspectivc responsibilities of trustees and examiner The charity's tiustecs are responsible for the preparation of the accounts. The charity's trustees Lonsidcr that an audit is not required for this year under sectioii 144(2) of the Charities Act 2011 (the 201 l Act) gind that an ind¢pendent exaiiiination is needed. It is my responsibility to: Examine the accounts under section 145 of the 201 l Act; riollow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and Statc whethei particular matters have come to my attention. Basis of independent examiners, report My examination was carried out in accordance with the general Directions given by the Chaiity 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 consideraiion of any unusual items or disclosures in the accounts, and the seeking explanatioiis from you as ti'uslees Loiicerning any such matters. 'fhe procedures undertaken do not provide all the evidence that would be rcquired in an audil and consequently no opinion is given as io whether the account.s present a "truc and fair view" and the report is limited io those malters set oui in the statement below. Independent cxaminers, statement In Lonnction with my examination, no matier has come to my attention. { l ) which gives me reasonable cause to believe ihat,in any malerial respect, the i'¢quirements: to keep accounting records in accordance wilh Section 130 of the 201 l Act; and to preP￿.e accounts which accord with theaccounting records and comply with the accounting requii'ements of the 2011 Aci have not been met. or (2) to which, in my opinion, attenlion sliould be drawn in order to enable a proper undcrslanding of the financial statements to be reached. 19 MARCH 2025 ABBf¢Y HOUSE 51 HIGH STREET SAFFRON WALDKN CBIO IAF IUCHARD KING FCCA THE FOSSEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Note 2024 2023 Income and Expenditure Incoming resources Rental income Investment income Total incoming resources 60 24055 24115 33559 33669 Resoui'ces expended Direct charitable expenses Management and adniinistration of the charity Total resource5 expended 6000 6000 6480 12480 6301 12301 Net incoming (outgoing) resources foR' the year Othei" recognised gains and losses Gains on investment assets: Realised Unrealised Losses on investment assets Realised Unrealised 21189 11814 95606 18821 11930 82056 ( 22693) ( 66992) Net movement of funds 4unds brought forward Funds carried forward 112923 1075823 £ 1188746 38808 1037015 £ 1075823 The notes on pag¢s 7 to 8 forni part of these financial statements THE FOSSEY CHARITABLE TRUST BALANCE SHEET AS AT 30 JUNE 2024 Note 2024 2023 Fixed assets Investments 1170987 1070985 Current assets Cash at bank 18659 5738 Current liabilities Creditors Net current assets Net assets 900 900 17759 £ 1188746 4838 £ 1075823 Repi"esented by Unrestricted funds £ 1188746 £ 1075823 Approved by the truslees on 15 March 2025 and signed on their behalf G R BRETTEN Trustee Tlic iiotes on pages 7 to 8 forni part of these financial statements THE FOSSEY CHARITABLE TRUST NOTES ACCOMPANYING AND FORMING PART OF THE FINANCIAL STATEMEI NTS FOR THE YEAR ENDED 30 JUNE 2024 l Accounting policies a) Basis of financial statements Tlie financial statements have been prepared under the historical cost convention and include the results of the charity's opeiations which are described in the Trustees, Report and all ofwhich are continuing. The financial statements have been Prepared in compliance with Statement of Recommended Practice on Charity Accounts. The charity has taken advantage of the exeinption in Financial Reporting Standard No. I from the requirement to produce a cashflow stateinenl. b) Income Voluntary income legacies and donations are accounted for as received by the cliarily. ) Investments Investments are stated at market value. R¢alised and unrealised gains and losses on investments are dealt with in the Siaiement of Financial Activities. Investment income with the exception of dividends plus associated tax recoverable is credited to income on an accruals basis using daily accrual for intei'esl. Dividend income is included net by reference to dates ofpayment. d) Value added tax Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities. e) Expenditure on management and administration of the charity Administration expenditure includes all expenditure not directly related to the charitable activity. Q Foreign currencies Transactions denominated in foreign currencies are translated into sterling and recorded at tlie rate of exchange ruling at the date of the traiisaction. Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance shect date. ChvrrtyF05124FA THE FOSSEY CHARITABLE TRUST NOTES ACCOMPANYING AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 {Continued) 2024 2023 2 Investment income Dividends froin listed investments Interest receivable on cash deposits Overseas income Interest from UK unit trusts 716 844 803 31858 21421 141 175 £ 33559 £ 24055 1656 3 Direct charitable expenditure Donations: The Farinland Museum Eversden Churches 6000 6000 6000 £ 6000 4 Administration expenditure Accountancy fee Inveslm¢nt maiigement fees 1182 1128 5298 5173 6480 £ 6301 5 Investments Tolal listed Lgnd deposits Market value at l July 2023 Additions Disposals Unr¢alised investment gains (loss¢s) Mai'ket value at 30 June 2024 1070985 1047651 1075528 1075528 ( 994347) ( 995886) 18821 18821 £ 1170987 £ 1146114 £ 5000 18334 1539 5000 £ 19873 Cost at 30 June 2024 £ 1145208 £ 1121874 £ 5000 £ 18334 The Trustees consider that the land had a market value at 30 June 2024 of £5000. 6 Creditors (amounts falling due within one year) Creditors comprise Acci'uals 2024 2023 900 £ 900 ¢hir*lOSI24?