York Common Good Trust
Annual Report and Accounts
for the year ended 31 March 2025
York Common Good Trust
Annual Report and Accounts for the year ended 31 March 2025
| Contents | Page |
|---|---|
| Trustees’ Report | 1 to 4 |
| Independent Examiner’s Report | 5 |
| Receipts and Payments Account | 6 |
| Statement of Assets and Liabilities | 7 |
York Common Good Trust
Trustees’ Report for the year ended 31 March 2025
Reference and Administration Details
Charity name: York Common Good Trust
Charity Commission registered number: 503556.
Contact details
Principal address: 54 Bootham, York, North Yorkshire, YO30 7XZ
Website: www.yorkcommongoodtrust.org.uk
Email: secretary@yorkcommongoodtrust.org.uk
Trustees
The Trustees of the Charity who served during the year were:
| Michael Sessions (Chairman) | ||
|---|---|---|
| Stuart Roberts | ||
| Sue Cooke | ||
| James Morrell | ||
| Lyn Langford | ||
| Elaine Phillips | ||
| Martin Nelson | ||
| Life President | Nicholas Morrell | |
| Life Vice-President | Keith Scott | |
| Secretary | Charles Walker | |
| Advisers | ||
| Bankers | CAF Bank Limited | |
| 25 Kings Hill Avenue | ||
| Kings Hill | ||
| West Malling | ||
| Kent | ||
| ME19 4JQ | ||
| Investment Fund Managers | up to 16 May 2024 |
from 24 April 2024 |
| Charles Stanley & Company Ltd |
CCLA Fund Managers Ltd | |
| Windsor House |
One Angel Lane | |
| 6 – 10 Mount Ephraim Road |
London | |
| Tunbridge Wells |
EC4R 3AB | |
| Kent | ||
| TN1 1EE |
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York Common Good Trust
Trustees’ Report for the year ended 31 March 2025 (continued)
Independent S B Wearing FCA, DChA Examining HPH Chartered Accountants Accountant 54 Bootham York YO30 7XZ
Structure, Governance and Management
The Charity’s trusts
The Trust was registered as a charity by Trust Deed on 11 December 1974 which was updated on 12 October 2000.
New trustees are appointed as required by a majority of the existing Trustees. They are recruited by word of mouth and personal connections.
The Trustees determine the general policy of the Charity, whereas the day to day management is delegated to the Secretary.
The Trustees completed their review of the Charity’s governance during the year, having adopted additional internal policy documents.
Objects and activities
The objects of the Charity, as established by its founder, are to issue lump sum grants mainly to existing charitable organisations within the City of York, particularly those that are intrinsic to the City, but may also include individuals working in the City for the benefit of its citizens who are not themselves registered as a charity but who cannot make progress within their efforts through lack of resources. These applications may be considered on their merits. Grants are made to help people rather than the environment.
The Trustees consider that they have complied with their duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Achievements and Performance
The Trustees met quarterly during the year.
The Charity paid out 39 grants (2024 - 23) totalling £23,603 (2024 - £19,486) during the year, none greater than £1,000. The various voluntary organisations supported by the Charity included, amongst others, those involved in the following sectors – disadvantaged families, people with disabilities, health, the elderly, the relief of poverty and the arts.
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York Common Good Trust
Trustees’ Report for the year ended 31 March 2025 (continued)
Achievements and Performance (continued)
As part of the University of York’s open lecture series, a lecture was organised by the Sheldon Memorial Trust and given by Dr Sarah Shiels and Professor Bill Shiels on the life of the Charity’s founder, William Bowes Morrell. The Charity’s board members, together with representatives of some of the grant applicants, attended this event as part of the celebrations to mark the fiftieth anniversary of the founding of the Charity. This Lecture will be published in due course and the Charity has agreed to make a financial contribution of up to £500 towards the cost of this publication.
Reserves level and policy
The Founder made a generous gift to the Trust which has been invested to generate income and ensure the stability of the grant making programme funded by it. The Trustees do not seek funds externally and so they hold reserves primarily as an investment fund to generate income. The nature of the Charity is such that the reserves are to be held indefinitely. The Trustees aim to spend the income generated by the investment portfolio, after deducting the expenses of managing the Charity.
Historically, the level of grant making activity has required an annual income of circa £25,000. More recently, the Charity has experienced increased demand for financial support from the local voluntary sector. The unrestricted reserves (regarded as ‘free reserves’) held at 31 March 2025 were £1,009,674, and the underlying investments and cash balances held by the Charity during the period under review generated an annual income of £28,367. This increase in income is attributable to the change of investment approach from bespoke to pooled investments, which has proved to be more cost-effective and enabled the Trustees to provide greater financial support in the form of grants awarded. The Trustees consider the current level of free reserves held to be sufficient but not excessive.
Investments
The Trustees’ approach is to strike a balance between investing for capital growth, to help protect the portfolio against the effects of inflation, and income. They are mindful of the need to balance the needs of current and future beneficiaries.
The Charity’s investments are professionally managed, and the performance is monitored on a regular basis against relevant investment indices. The total return (capital and income) on the CCLA investment portfolio since inception in May 2024 was -1.4%. The fund comparator for the full year was +4.05% and the rate of inflation (CPI) prevailing during the year was +2.8%.
Risk Management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems are in place to mitigate our exposure to the major risks.
Related Party Transactions and Trustees’ Remuneration
No trustees received any remuneration or benefits during the year. No trustees were reimbursed any expenses. There were no transactions with those persons and entities that are closely connected to the Charity or its trustees, referred to as related parties.
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York Common Good Trust
Trustees’ Report for the year ended 31 March 2025 (continued)
Events since the Year End
None.
Signed on behalf of the Trustees
Michael Sessions Chairman
7 August 2025
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Independent Examiner’s Report to the
Trustees of York Common Good Trust
I report to the Trustees on my examination of the accounts of York Common Good Trust (‘the Trust’) for the year ended 31 March 2025, which are set out on pages 6 and 7.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed
S B Wearing FCA, DChA HPH Chartered Accountants 54 Bootham York YO30 7XZ
7 August 2025
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York Common Good Trust
Receipts and Payments Account for the year ended 31 March 2025
| Receipts Dividends Bank interest Investment sales Total receipts Payments Grants made Investment fund managers’ charges Secretary’s salary Payroll and administrative expenses Independent examiner’s fee Insurance Bank charges Investment purchases Total payments Net of payments Cash funds brought forward Cash funds carried forward |
Year ended 31 March 2025 £ £ 27,659 708 28,367 867,274 895,641 23,603 5,677 2,013 666 708 122 120 32,909 883,343 916,252 (20,611) 34,586 £13,975 |
6 April 2023 to 31 March 2024 (361 days) £ £ 24,830 569 25,399 31,128 56,527 19,486 10,466 1,968 544 666 113 60 33,303 25,547 58,850 (2,323) 36,909 £34,586 |
6 April 2023 to 31 March 2024 (361 days) £ £ 24,830 569 25,399 31,128 56,527 19,486 10,466 1,968 544 666 113 60 33,303 25,547 58,850 (2,323) 36,909 £34,586 |
||
|---|---|---|---|---|---|
| (2,323) 36,909 |
|||||
| £34,586 |
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York Common Good Trust
Statement of Assets and Liabilities at 31 March 2025
| Investment assets Quoted securities (at market value) Cash funds Investment Fund Managers’ client account Bank deposit account Bank current account Total assets Liabilities Creditors - grants and professional fees Total net assets |
Unrestricted funds 31 March 2025 £ £ 995,699 - 13,895 80 13,975 1,009,674 - 1,009,674 |
Unrestricted funds 31 March 2024 £ £ 984,048 7,815 26,144 627 34,586 1,018,634 1,120 1,017,514 |
Unrestricted funds 31 March 2024 £ £ 984,048 7,815 26,144 627 34,586 1,018,634 1,120 1,017,514 |
|---|---|---|---|
| 1,018,634 | |||
| 1,120 | |||
| 1,017,514 |
Approved by the Trustees on 7 August 2025 and signed on their behalf by:
Michael Sessions Chairman
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