CHARITY COMMISSION REGISTRATION NUfvIBER: 328596 THE SARGENT CHARITABLE TRUST FINANCIAL STATEMENTS FOR THC YCAR ENDED 31 MARCH 2024
THE SARGENT CHARITABLC TRUST FINANCIAL STATEMENTS For the Yeai- Ended 31 Marctl 2024 Page Ch2ri¢y Informglioii Trustees, Report Iiidepcndeiit Auditor's Report Statement of FinAncial Activities Balance Sliect Statement of Cash Floivs io- 11 Note5 to the Account5
TItE SARGENT CHARrrABLE TRUST FINANCIAL STATEMENTS For the Year Ended 31 March 2024 CHARITY COMMISSION REGISTRATION NUMBER: 328596 TRUSTEES: N G S¢ll'(Jcnt V.4 SJrgeni R A Oiii'y C A Meadoivs .$ W£%.%ely ADDRESS: The Old for2e Faivlcy Gi'eei) 14eiil¢y. on.Tham¢s O.Kfordsliire RG9 6Lk BANKERS: Svenska Handelsbanken Ple Independenr¢ House WilliaTll Str¢e¢ Wind50r Berkshire stA IBA ACCOUNTANTS.. Oury Clark Chartered Accountants Herschel House 58 Herschel Styeet Slough SLI IPG AUDITORS: Loos¥ & Co Souili Sumnieii(115'13 o.xford OX2 7JL
THE SARGENT CHARITABLE TRUST TRUSTEES, REPORT For the Year Ended 31 March 20?4 Basi5 of Prep2ration The financiÈl siaremenis have been prepared in accordance witli the accountin policies ser out in th¢ llotes to the accounts nd cofflply witli Il)e charity's governin(* documcnt, the Cl)ariiies Act ?0 I l aiid Accounting and Reportinu by Charities= SraLemenc of Recommended Pi'aclice applicable to charities preparin¢r thEir accounts in accordance with the Financial Reporting Standard 102. Adrninistrative Detyils The trustees, 2$ set out on page l. all acted rhrollghout the year and were still in 01CC on the date (he iru5tees' report wa5 approved, unless as otheThvis¢ 5hoivn. The majoTity of these trustees hold tiEl¢ 10 propety beloiigiiiL7 to th¢ charity gt the Teport approval date. Th¢ names and addresses of rcl¢vant ortsanisalions providinrr bankin¢r services and professional advice to the ¢hariry are listed on page l. Objeets arnd Coverning Documents The objects of the trust are: The preservation, protection and itnprovemenc of any amenity or land rhat may be vested in the charity or is of scientifiq agriculture, horticultural or silvieultural interest. The e5tablishinent of a conservation or fjeld centre or museum for the education and benefit of the oen¢tal public. Asslst or promote any charitable orvanisation or charitable purpose. The advancement of education. Th¢ advancetRent of health or the Savin Df lives. The advancement of the arts. culture, heritatse or scieiice. The advancemeDt of envii'onmerttal protection 01- improveinent. The relief of those in need. by re2son ofage, ill-health, disability. financial hardship or otlier disadvantaoe. Tlie advanoetn¢nt of anifflal welfare. Success is measured by the chariry's abiliry to meet the abov¢ objeciives. The trust is govei'ned by tli¢ tlU5t deed, dated 19111 Mi arch 1990. Activities The activities of tlie rtst include die making of donation5 to other charities and to inv¢5t in and preserve buildings, to ensure it is viabl¢ to tnainiain rhese activities into the future. The trustees have had regard to the Charity Commission5 vuidance on public benefit. A¢hievenient$ and performance Th¢ main achievemenis to date Include Inaking grants LO charitable beneficiari¢5 and aquirinTr land and buildings ro preserve for Ihe fijture. Thc ¢harity doe5 noi have any key p¢rfortnance indic&tors. Organi$atlon and Grant Making Policy The trustees meet on a quarterly basis to adminisrer the cl)arity and yse$S Qrallt appli¢ation5. An Admini5Efdtor manages the day-to-day operations of the ¢harily. Th¢ Iruste¢s revi¢w the specific requirement for funds and then approve or refuse grant application5. Tlie trustees monitor and review the application of funds by the recipient Gharities on a regular basis.
THE SARGENI. CHARITABLE TRUST TRUSTECS, REPORT For che Year Ended 31 March 2024 Investment Policy The trustees have the power to invest ill 5u¢h a55ets as they see fit. The charity also ITLaintains surpllis liquid fund5 in short.ierm deposits in order to tnake funds available when opportunitie5 ari5¢ to ake rtrants. Reserve5 Policy The charity has adopted a policy of building and maintaining general reserves at a level sufficienr to meet all known liabilities and to provide financial seciiriry for the support of fijlure ctrowth. Funds held ere outlined in note 6 oftheaccouDts. Risk Monagement The trustces actively review the majorrisk5 which the charity faces on a regularbasis. and believe that maintainino res¢rv¢s 2tcurrent level4 coinbin¢d with a rcvular r¢vi¢w of th¢ contro15 ov¢r kcy finallcial 5ySt¢tns, will provide sufficient resources in the event of adverse condi(ions. The principal fundi source is Skillbond Ltd and ihe charity con5id¢rs Ihe risk of withdrawal of Ongoin fvndinu to be low. Principal Office of tlie Charity The address of the principal office of ihe charity is as set out on paoe l. Method of Appointment or Election of Trustees Trustees are appointed or elect¢d by r¢501ution of the existing trnstees. There is no policy for the inductTDn and trainino of trustees as the charity does nor believe that any new trustee5 will be appointed in the near future. Statement of Tru5tee5 Re5pousibilitie5 The tylIStees are responsible for preparing financial statemenis for each financial yeai. which give a true and faTr view of the s(ate of affairs of the cliarity and of the swylus or deficit of th¢ Charity for tliat p¢riod. In preparing these fiiiancial sratement5. the trustees are required zo.. Select suitable accounrintr policies and apply them consisrently. Observe the rnethods and principles in the applicable Chariti¢s SORP Make judgements and estimates that are reasonable and prudeni,. Srate whether applicable accountinu Standards have been ftillowed. subject to any mareri81 departures disc105ed and ekplained in the financial stat¢ments; and Prepare the financial statement5 on tlie going concern basis unless it is inappropriare to presume that tlie charity can continue. The trustees are r¢sponsible for keeping proper accountinu record5 which disclose with reasonable accuracy ai aryy lime the Financial position of the charity and to enable tliem to ¢nsuie that the Financial staicmcnts comply with the Trust Deed, th Charities Act 201 l and the relevant Charities SORP. They are also responsible for safeguardiiig the assets of the cliarity and hence for Mkinu reasonable Steps for Ihc Pren[lon and detection vf fraud and orher irrerpularities.
THE SARGENT CHARITABLE TRUST TRUSTEES, REPORT For the Year Ended 31 March 2024 Review ofthe Year Rnd Future Developments The trustees are satisfied with the activities during the year. Audit Informotion In 50 far as the tru5te¢5 are aware,. (a) There is no ielevant audir information of which the charity's auditors are unaware: and (b Tlic trustees have taken all steps that they ought to have taken io rnake themselves aware of any relevant udil infonnation and to establish that the auditors are aware of that inforniation. RA Oury- Trustee Dal¢d: y4w@rf2024
INDF.PENDENT AUDITORS. REPORTTO THE TRUSTEES OF THE SARGENTCHARIT.ABLE TRUST For the Year Ended 31 March 2024 Opinion We hLve audited Ihe financial 5tatemenrs of The Saroenr Charitable Trust {tlie"Chariry"), for tlie year ended 3151 March 2024, wl)ich comprise the 5t2tement of financial activitie5, tlie balance 51ieet, the statemcnr of cash flow5, and note5 to (he financial staiernents, including a SUTary of sitsnifIcant accountino policies. The financial reporting fram¢w'ork that has been applied in their pieparation is applicable law and United Kintsdon7 Accounting Standard5, incILtdinrT Financi81 Reporting Srandard 102.. The Financial Reportino Siandard applicable in the UK and Republic of Ireland (United Kinrrdom Generally Accepted Accountino Practice). In our opinion the financial stateinents.. give a true and fair view ofthe State of the Charitys affairs as ar 3 Isi March 7024 and of its income and expenditure foi. the year then ended- have beeii properly prepared in 8c¢ordance with United Kinodom Generally Aepted Accounting Practice. have been prepared in a¢cord8nc¢ ivilh the requirements of Chariiies Aet 2011. Basis for opinio We conducted our audit in accordance with International Standards on Auditinu {UK) (ISAS (UKI) and applicable law. Our responsibilities underth05e 51andards are furtherdescribed in the Audito15 responsibilities for the audii of the financial statements section OF our report. We are independent of th¢ Charity in accotdance with the ethical requiremenis that are relevani lo our audit of tl)e financial sralements in the UK, in¢ludintt Ihe FRC'S Ethical Siandard. and we have fulfilled our other ethical responsibilities in accordance with thesc requireentS. We bclieve Ihar Ihe audit evidence we have obtained is sutficient and appropriate 10 pro%'ide a basis forour opinion. conclu5ion5 relating to going concern In auditino the financial staretnent5. we have concluded iliat die rrustees, use of the ttoino concem basis of accountino in the preparaiion of Ihe financial statements is 2ppropriate. Based on the work ive have perfortned, Ive have not id¢ntifi¢d any rnatvrial uneertainties relatin 10 evenrs or conditions thai individually or collL*tively. may rast significant doubt on the charity's ability to continue as a going concern lor a period of at least l? mtsnth5 froTn wh¢n the finaneial stateTnents are all(horised for issue. Oiir responsibilitieg and the r¢sponsibilitie5 of ihe tnjstees with respect to rroirtg concern are described in the relevant seciions ol'this report Other information Tl)e trustees are responsible foi rhe oihei. infomiation. The orhei. information coinprise5 tlie infOrallOn included in the 8nnual report oih¢T than the financial statements and our audifor's report Ihereon. Oui opinion on the fiNancial 51atemenis does noi cover ihe orher infoi"mation and, except to ihe extent odierwise explicitly Staled in oui. report, we do not expre5S any form of assurance conclusion thereon. In connection ivith our audit of the financial sratemenis, our responsibility 15 to read che other illfomiation and, in doing so, consider whether the Otler information is materially inconsistent with the financial Statements or our knowled(re obtained in th¢ audit or otherivise appears io be materially misstated. If we identifv sucl) nJaterial inconsistencies or apparent tnaterial rnisstciiernents. we are Tequired ro determine wheiher Ihere is a material missijtement in the financial slatetnents or a tnaierial mi55tat¢n¢nl orth¢ oth¢r infortnation. If, based on thc work we liave pei.foiTned, we coiiclude that there 15 a material misstaiement of thi5 other infomiation. we are required to report that fact. We have nothing ro report in thi5 regard. Iwrxtters on which ive are required to report by exception In thc li(Tlit of tlie knowledoe ai)d underslandintr of the Charity and ils environment obtained in the coui-se of the audit. Ive have not identified material Inis5raiements in the Tru51eE5' Annual Report. We have nothing to report in respect of the folloivino matters in relalion lo which the Charities Act 201 I requires us lo rcport to you if, in our opinior].' sutficien( accountinu rEcord5 have nor been kept- thE financial statemenls are not in agre¢ment witli the accounting records and return$,' or we Iiave not obtained all the itLformalioD and explanations nece55ary for thr purposes of the audir.
INDEPENDENT AUDITORS, REPORTTO THI TRUSTEES OFTHE SARGENT CHARITABLE TRUST For the Year Ei nded 31 March 2024 Re5POllsibilities of the trustees As explair]ed more fully in the tnjstees, responsibilities statement set out on page 3, rhe rrustees are responsible for the preparation of the financial stat¢rnents and for beintr Satisfied rhat they give a true and fair view, and for such iniernal ctsnlrol as Ihey derertnine is necessary to enable the preparauon of financial staiements ihat are free from matcrial misstatement. wherher due lo fraud or etTOr. In preparintr Ihe financial stotements, the trustees are responsible for 855essin(T the Charity's ability to continue as a oino concern. disclosing. as applicable. ma¢iers related 10 goints COllCETh and usino the goin(y concern basis of ac¢ountin(p unle55 the tru5tr¢5 ¢iih¢r intend 10 liquidate Ihe Chariry or to cease operations. or hav¢ no realistic alrernative but to do so. Our responsibilities (tsr the audit of the financial statemettts Our objective5 are to obtain reaSODable assur2p.ee about whether the financial stotements os a whole are free from material misstatemEnt, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance is a hivh level of a5suran¢¢, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a tnaLerial missiaiemenL when it exists. Misstatements Ban 2rise from fraud or error and are eonsidered material if, individually or in the autsregate, they could T¢a50nably be expected io intluence the economi¢ deci5ioTrs of us<r5 taken on th¢ ba5r5 Qf these financial siaiements. Iiiegularities, irLcluding fi.aud, are instances of non-compliance with laws and regulations. We de5ian procedures in line with our responsibilities, outlined above, to deteGt material tni55¢atements in respect of irr¢gul8rities, including fraud. Tlie extent to which our procedures are capable ofdelecLinu irre¢rularities. includintr fraud is detailed beloiv.. Our approach to identifying and a55es5ing Ihe risks of Tnat¢rial misstatement in respect of irregulariti, includinv fraud and non-complianc¢ with laws and reoulaiions. was a5 follows-. ¢n5uring that the enua¢Jement team collectively had the appropriatc coinpetence, capabilities and skills to identify or recoonize Ron-cornpliance with appliLable laws and reollla(ions, which we had identilied diioutsh discussions ivith manag¢ment, and from our ¢otnmercial knowledve and expei'ienc¢ orthe entiLy- we focused on specific and relevant laws and reiTulaiions which we considered may hav¢ a direct rnaterial effect ort the finanrial 5taternents or the operaLions of thE entity. we a55e55ed the extent of compliance rherewilh. We assessed the susceptibility of the entity's financial siaLements to material mi55tal¢Tn¢nt, includinu obtainino an undersiandin of how fraud Iniuht occur. by-. rnakintp enquiri¢5 ofmanagement as lo where they considered tlier¢ ivas Susceptibility to fraud. their knowledge of actual, suspecied and alletsed fraud. and,. considering the internal contro15 in place lo mitioate risks of fiaud and non-eompliance with laws and r¢rpulations To address the risk of fraud Ihrouoh manaoeiment bia5 and override of contro15, we.. performed analytical procedures to identify any unusual or unexpected relationships and investirated th¢ ralionale behind sivnificant or unusual transactions. In response lo the risk of itretsulariiies and non.complianc¢ with laws and rcoulations. we designed procedures which included. but were noi limited to.. aureeinv financial statemeiit disclosurcs to und¢rlyiT)g supportino docum¢nlation', enquirino of management a5 to actual and potential litigatiorL and claim5 2nd reviewin<y any correspond¢nce with rel¢vant regulator5. There are inherent limitations in our audir procedure5 described above. Thc rnore removed that law5 and re(rulations are from f5nancial transactions, tlie less likely it is that we would becoine aware of non-compliance. Auditing standards als limit the audii procedures required to identify nOn-coP1iOllCe with laws and r¢Eulations to enquiry of manao¢mBnt and the inspection of regulatory and legal CoesPondenCe, if any.
INDEPENDENT AUDITORS. REPORTTO THE TRUSTEES OFTHE SARGENT CHARITABLE TRUST For the Year Ended JI March 2024 MaLerial rnis5taremenis that arise due to fraud can be harder lo d¢te¢t than Ihose that arise from error as they Tnay involve deliberate concealment or collusion. A fvrtherdescription of our responsibiliiies For the audi¢ of the financial 5talements is located on the Financial Reporting CounGil's website at-. [www.fv.org.uldaudi¢or5respon5ibilitieS]. This description forn)s part of our auditor's report. This report 15 made solely to the Charity's trustees, as a body, in acrordance willi part 4 of iliE ChitIeS (Aceounts aftd Keport5) Regulations ?008. Our audit ivork has been undertaken $0 we miuht slak to th¢ Charitys trustees those matters we are required to state to then in an auditor's report and for no other putPOse. To Éhe fvlle5t cxt¢nt pemiined bylaw, we do not accep( or assume responsibility to anyone othei. rhart the Cliarity'5 trust¢¢s as a body, for our audit Work, foT this report, or for the opinions w¢ hav¢ fomied. *L lolk St John's House S South Parade Summertoivn. Oxford, OX2 7JL King Loose & Co, Statutory Auditor5 Kin(¥ L005e & Co is eligible to act as an auditor in terms of Sectiort 1212 of the Companie5 Act 2006.
THE SARGENT CHARITABLE TRUST srATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 March 2024 Unrestricted Fundsrrotsl Funds 2024 2023 Not¢s Income and Endowments from: Donations Rent receivable Deposit interest Sundry ieceipts 3,525,000 44.052 177 1,350 64,053 TOTAL INCOME AND EI NDOWMENTS 3,569,229 65,428 Expenditure on: Choi'ilcTble acliyilies.. DonallOllS- oigani5ations 98,250 61,140 OihEf cosIs.' Accountancy Audit fee Rates and water Liuht and heat Maintenance Insurance Telepholle Licence ke5 Sundry expense5 Leual fees Depre¢iation 6.699 540 216 666 40,562 5,437 4.500 251 950 .072 250 800 25 890 59,177 5,665 47,656 TOTAL EXPENDITURE (212,3971 (140,692) NET INCOME I (EXPENDITURE) BEING NET MOVEMEINT IN FUNDS 3,i56.832 (75,2641 Total funds brought forward 8,270,703 8,i45.967 Total ndS carried forward 11.627,535 8.2 10.7Oi The note5 on paLves 12 to 14 forfn an integizl part of tliese finan¢ial statements
THE SARGII NT CHARITABLE TRUST BALANCE SHECI T 4$ at 31 MArch Z024 2024 202i Notes TANGIBLE FIXEI D ASSETS Land aJJd building5 Plant, tnachinery, etc. 11,120,402 218.052 7,62J,453 2i6,705 FIXED ASSET INVESTMENTS Investment in subsidiary company 250 11,338,704 250 7,860,408 CURRCI NT ASSETS D-btors and prepaymenrs Bank current account Bank deposit account 379,077 ?0.901 2,671 402.649 310,388 171,228 2.610 484,226 CURRENT LIABILITIES Creditors falling due within one year 113,818 73.931 NET CURRENT ASSETS 288,831 410,295 TOTAL ASSETS LESS CURRENT LfABILITIES BEING NET ASSETS 11627.535 8.270.70i FUNDS Unrestricted fiJnd5 11,627,535 8,270.70J The financial statements have been prepared in accordance with rhe Financial Reporting Standard 102. by the Trustees. R A Oury-Trustee For and on behalf of ti)e Trustees Dated.. 0)12024 The notes on pages 12 to 14 foi'in an integral part of these financial Statements
THE SARGENT CHARITABLE TRUST STATEMENT OF CASH FLOWS ror the Year Ended 31 March 2024 NoLes to Cash Flow5 31.03.24 31.03.23 Cash flows from operatrng activities Cash ¢reneraied from l (used inl operalions 3,)85,509 (29,818) N¢( casli provided by l (used in) operatifto aciivities 3,385.509 (29,818) Cash flo)Ys from financing Loan to subsidiary company 10.000) C2sh ftows from investinu aetLVities Purchase of lantsible fixed assets Purchase of investment Interest received (3,525.9511 {193.788) 176 23 Nef cash (used in) investing activities {3,5?5,77)) 193,765) Net (decrease) in cgsh and cash equiYalent5 (150,266) {295,357) Cash and cash equivalents at beginning of year 173.839 469,196 Cash and cash equivalents at end of year 23.573 17i,839 Th¢ notes on page I I form an inteoral part of tlie Statement of Cash Flows io
THE SARGENT CHARITABLE TRUST NOTES TO THE STATEMENT OF CASH FLOWS ror the Year Ellded 31 Mlrch 2024 RECONCILIATION OF NET MOVEMENT IN FUNDS TO CASH GENERA TED FROM OPERATIONS 31.03.24 31.OJ.2i Net movement in fund5 DepreGiatio Financ¢ incoine 3.356,832 47,656 (177) (75,264) 59,177 3,404.311 De¢r¢ase in stock (Increase) in debtoi's and prepayments Increase in crediiors (58,689) J9.887 {66,873} 53.165 Cgsh generatcd froml(u5ed in) opcration$ 3.385.509 (29.8181 CASH AND CASH EQUIVALENTS Tlie aJT]ounts disclosed on the Staternent of Casli Flows in respect of ¢8slI and cash equivttlents are in respect of th¢5e Stat¢m¢nt of Financial Position amounts.. Year ended 31 March 2024 31.03.24 01.04.23 Cash and cash equivalents 173.839 Year ended 31 March 2023 31.03.23 01.04.22 Cash and cash equivalents 173,839 469.196 li
THE SARGENT CHARITABLE TRUST NOTES TO THE FINANCTAL STATEMENTS For the Year Ended 3] March 2024 ACCOUNTING POLICIES Basis ofAccouDting The accounts have been prepared on the historical cost basi5 except for investment properti whicli are staled at fair value wlien held, and in accordanee with appli¢able accounting standards. The account5 (financial stai¢rnent5) have been prepared in accordance with Accounting and Reportino by Chariiies.. Statement of Recommended Pracrice applicable io charities preparing tlieir account5 in accordance with the Financial Reporting Standard 102 (effective January 2022), the Charities Act 2011 and UK Generally Ac¢¢pi¢d Prnc(rce. The chprity constitutes a public benefis entity as defined by FRS 102. Preparation ofcon501idated financiAI statements The fiiiancial statements contain information about The Sar1t Chariiable Trust as an individual charity and do not contain consolidated financial info27natioii as the parent of a uroup. Tlie chariry is exempt under Section l J9 of the Charities Acl 2011 frojn the requirements to prepare coll501idated financial 5fat¢Tnent5. Income Income arisino from donations and fijnd raising a¢livifics is taken to the credi¢ of the Slaternent of Fillan¢ial Activitie5 on a receipts basis. Interest is taken into accoiint when received and is received LTfoss. Income arising from rents is recognised on an accNals basis. Expenditure Liabiliti¢5 ar¢ recognised a5 expenditure a5 500n as there is a legal or constructive obligation ¢gTninitting the charity to that expenditur4 It is probable that settlement will be required and the amount of the Dbligation can be reliably tlleasured. Expenditure is included oil an accNals basis and has been cla55ifieJ under lieadings El)ar aggregate all ¢osts laied io Ihe cateoory. Grants payable Grants payable are payrnents IT)ade lo oilier rharitable oiEanisations, in the fi)rtherance of the charity's objects. Trustee57 Remllneration a Expet]ses No rcmunerdtion or expenses are paid to Tru5t¢¢s. Tangible Fixed A55ets Tangible fixed ass¢ts comprise freehold land and buildines which are held for charitabl¢ purpose5 and con5equentiy are held at cost, subject to review by the trustee5 foi- p055ible impairment. Plant, machineryi etc is recogni5ed at cost les.s d¢pr¢cialion. whioh is provided at d)e following rates.. Plant. machinei'y, etc 20¥0 redu¢inth balan¢e. from rhe date asset broiiglit into use Fixed Asset Investments Investmentg in subsidiaries are r¢cognised initially at cost. and then reviewed annually for any potential impairment. Any irnpairment identified is charged to the Statement of financial octivities in the year in ivhich it is identified. Reserves The charity has adopted a policy of buildints and maintaining general re5erve5 at a level Sufficient lo meet all known liabilitie5 and to provide financial security for the support of tyre growth. Funds held outlin¢d ii) note 6 of the accounts. Statement of cash floiY5 Th¢ rash tjow stat¢m¢nt 15 pr¢sented using the indire¢t method. 12
THE SARGENT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 I'ANGIBLE FIXED ASSETS Land and buildings Planr, machinery.2l C05t'. At 31 March 2023 Acquired durino tlie year 7.623,453 3,490,949 341,407 29.002 At 31 March 2024 11,120,402 37Q,404 Dcpreciation: At 31 March 202J Charge for the y¢ar (104.696) 147,656) At 31 March 2024 (152,i52) Net Bookvalue: At 31 Mah 2024 11,120,402 218,052 At 31 Marcli 202J 7.623,453 2i6,705 FIXED ASSET INVESTMENTS Fixed asset investments relate to a IOO/o holding in the ordinary shaiE capital of Rackleys Estate Limited, company incorporated in England and Wales. The 5harcs were acquired at par for £250. DEBTORS AND PREPAYMENTS 2024 2023 VAT Trade debtor5 Loans to subsidiary company Prepayment5 and accrued income 86.961 40.808 242,921 8,387 7,726 232,921 69,741 J79.077 )10,i88 During the year £50.000 of rent owed to the Trust by Rackleys Estat¢ Limited wa5 waived due to the disruplitjn of buildino works. The Trust¢e5 are of the view that £120,000 (202).. £120,000) of the balance Shown above a5 loans lo subsidiary company. is to be Considered as due in after more tlian one year. 13
THE SARGEf4T CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 M2rch 2024 CREDITORS: AMOUWS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals Income in Advance Trade creditors 16,248 5.000 92,570 12.500 61.431 113,818 73,931 UNRESTRICTED FUNDS Balan¢e on the unrestricted fund represents an unrestricted g¢neral fund made up as follow5. Balance brouoht fotivard 8,270,703 Nec moveinent in the year per SOFA i,ii6,8J Balanre carried forwaid 11,6?7,j) j These funds are held at a level Sufficient to meet all known liabilities and to provide financial security for the support of future growth. TAXATION No liability to raxation arise5 in the year or prior period as the Cliariry has exempr status. RELATED PARTIES DurinrT the year. an amounr of £3,525.000 (2023., £Nil) of donations w&s re¢eiv¢d frotn Skillbtsnd Ltd, which company has Directors who are also TTUStees of the Charity. beinty N G SarLrent and W A Sarcent. A total of £6,699 (2023.. £5,437) has been incuryed in relation lo accountancy fee5 charged by Ollry Clark Chartered Accountants. of which R A Oury, a frus(ee of the Chariry. is a partner. Durin(r the year a donation of £Nil (?0?3'. £1,350) was ieceived from Oury Clark. The charity is claiming exemption not to disclose transactions between itself and its wliolly owned subsidiary, Rackleys Estate Limited. 14