C. A. Rookes Charitable Trust Charlty No. 512437 Trustees, Report and Unaudited Accounts 05 Aprll 2024
C. A. Rookes Charitable Trust Contents Pages 2to3 Trustees, Annual Report Independent Examiner's Report Statement of Financlal Activities Balance Sheet Statement of Cash flows 14 Notes to the Accounts 7t013 Detailed Statement of Flnanclal Activities 15to16 Paae 1
C. A. Rookes Charitable Trust Trustees Annual Report The trustees present their report with the unaudited financial statements of the charity f or the year ended 5 April 2024. REFERENCE AND ADMINISTRATIVE DAlLs Charity No. 512437 Principal Office The Old School Tiddington Stratford on Avon Warwickshire CV37 7AW Trustees The f ollowing trustees served d u ring the year.. C.R. Ironmonger C. Ironmonger. Accountants Peter Hannaford Accountancy Services Ltd 1556 Stratford Road Hall Green Birmingham B28 9HA Bankers Handelsbanken 2nd Floor Olympus House Olympus Avenue Royal Leamington Spa Warwick CV34 68F Investment Advisors Hathaway Investment Management Ltd Grosvenor House 14 Bennets Hill Birmingham B2 5RS OBJECTIVES AND ACTIVITIES Paoe 2
C. A. Rookes Charitable Trusl Trustees Annual Report The objectives of the charity are set out in its governing document created by a settlement of the Will of Christopher Albert Rookes who died on 30 July 1980 The Trust is to apply the income lor general charitable purposes wholly or mainly for the inhabitants of the County of Warwickshire and without obligation but with the wish that so far as may be practical may be applied in the promotion of the welfare ot the elderly in the Old Borough of Stratford upon Avon and the Trustees may apply capital or incomes for a charitable purpose of any charity for the time being in existence. ACHIEVEMENTS AND PERFORMANCE During the year the charity made grants totalling £45.206 to 40 individual charitable orqanisations compared with £41.550 to 39 organisations in the previous year. FINANCIAL REVIEW During the year Trusts Total Assets increased by £126.461 from £2,634.410 in 2023 to £2,760,871 in 2024. The increase is partly attributable to a increase of £57.923 in the Quoted Investments which was enhanced by an increase in bank balances of £70,878. Increases in bank balances will enable the Trustees to mainiain their ability to provide future grants and pursue investment opportunities. PLANS FOR FUTURE PERIODS The Trustees continue to seek suitable properties both commercial and residential to invest su rplus f unds. Their objectives being the diversification of investments capable of generating stable and sustainable f utu re incomes whilst also retaining their capital value. STRUCTURE, GOVERNANCE AND MANAGEMENT The management ot the charity is the responsibility of two trustees who have considerable technical and practical skills and experience. Trustees are recruited to fill any vacancies and their appointment is based on ability and achievement. No remuneration is paid to the Trustees Their work is unpaid and undertaken on a purely voluntary basis. The Trustees meet on a regular basis throughout the year to discuss the charities affairs and review requests for f inancial assistance Statement of trustees, responsibilities in relalion to the f inancial statements The charity trustees are responsible for preparing a trustees. an nual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tiffle the financial position of the charity and to enable them to ensu re that the f inancial statements comply with the Charities Act 2011. the applicable Charities (Accounts and Reports) Regulations, and the provisions ol the Trust deed. The Trustees are also responsible f or saleguarding the assets of the charity and hence taking reasonable steps f or the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees Paoe 3
C. A. Rookes Charitable Trust Trustees Annual Report C. Ironmonger. Trustee 20 November 2024 Paoe 4
C. A. Rookes Charitable Trust Independent Examiners Report Independent Examiner's Report to the trustees ol C. A. Rookes Charitable Trust I report to the trustees on my examination of the financial statements ol C. A. Rookes Charitable Trust lor the year ended 5 April 2024. Responsibilities and basis of report As the charity's trustees you are responsible f or the preparation of the f inancial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements 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 14515llbl of the Act. Independent examiner's statement I have completed my examination. I can 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: the accounting records were not kept in respect of the charity as req uired by section 130 of the Act; or the financial statements do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of f inancial statements set oul in the Charities (Accou nts and Reports) Regulations 2008 other than any requirement that the financial statements give a'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attenlion should be drawn in this report in orderto enable a proper understanding of the financial statements to be reached. Peter Hannaford Peter Hannaford Accountancy Services Ltd 1556 Stratford Road Hall Green Birmingham B28 9HA 20 November 2024 Page 5
C. A. Rookes Charitable Trust Statement of Financial Activities lor the year ended 5 April 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from.. Donations and legacies Investments Other 54.937 82,110 60,093 54,937 82,110 60,093 41.552 66,808 (46,524) Total 197,140 197,140 61,836 Expenditure on: Raising funds Charltable activities Other 23,132 45,206 2,340 70,678 23,132 45,206 2,340 70,678 21,908 41,550 2,238 65,696 Total Net gains on investments Net Incomellexpenditure) Transfers between funds 126,462 126,462 (3,860) Net incomellexpenditurel bef ore other galnsl(lossesl Other galns and losses 126.462 126,462 (3,860) Net movement In funds 126,462 126,462 13,8601 Reconciliation of funds: Total funds brought forward 2,634,410 2,634,410 2,638,270 Total funds carried forward 2,760,872 2.760,872 2,634,410 Page 6
C. A. Rookes Charitable Trust Balance Sheet at 5 April 2024 Charity No. 512437 2024 2023 Fixed assets Investments 10 1,867,572 1,867.572 1,809.649 1,809,649 Current assets Cash at bank and in hand 898.140 898,140 (4,840) 893.300 2,760,872 2,760,872 827,261 827,261 {2,500) 824,761 2.634,410 2.634.410 Creditors: Amount falling due within one year Net current assets 11 Total assets less current liabilities N et assets excluding pension asset or liability Total net asset5 2,760,872 2.634.410 The funds of the charity Restricted funds Unrestricted funds General funds 12 12 2.760,872 2.760,872 2.634,410 2.634,410 Reserves 12 Total funds 2.760,872 2,634,410 Approved by the trustees on 20 November 2024 And signed on their behalf by: C. Ironmonger. Trustee 20 November 2024 Paoe 7
C. A. Rookes Charitable Trust Notes to the Accounts for the year ended 5 April 2024 1 Accounting policies Basis of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accou nts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies {valuation rules and method of accounting) since last year and no changes have been made to accounls for previous years. Fund accounting Unrestricted fu nds These are available for use at the discretion of the trustees in f urtherance of the gene ral objects of the charity. These are unrestricted funds earmarked by the Irustees for particular purposes. These are un restricted f unds which incl ude a reval uation reserve representing the restatement of investmenl assets at their market valu es. These are available f or use subject to restrictions im posed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted f unds Income Recognition of income Income is incl uded in the Statement of Financial Activities (SOFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount ol the income can be measured with suf ficient reliability. Income with related Where income has related expenditure the income and related expenditure 15 expe nditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifls is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantif iable, measu rable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(lossesl on This includes any gain or loss resulting from reval uing investments to market value revaluation of fixed at the end of the year. assets Gainsl(losses) on investment assets This includes any gain or loss on the sale ol investments. Page 8
C. A. Rookes Charitable Trust Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising f unds trading costs and investment management costs. Expenditure on These comprise Ihe cosis incurred by the Charity in the delivery of its activitles and charitable activities services in the f urtherance of its objects, including the making ol grants and governance costs. All grant expenditure is accou nted tor on an actual paid basis plus an accrual lor grants that have been approved by the trusiees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory req uirements of the Charity. incl uding any audillindepend ent examination tees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Grants payable Governance cosls Taxalion The charity is exempl Irom tax on Its charitable activities. Freehold investment property Investment properties are measured initlally at cost and subsequently at fair valu e at each balance sheel date and are not depreciated. All gains or losses are taken to the Statement of Financial Aclivities as they arise. Stocks Stock is included al the lower ol cost or net realisable value. Donaled items of slock are recognised at fair value which is the amount the charily would have been wllling to pay lor the items on the open market. Trade and other debtors Trade and olher debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amounl prepaid net ol any trade discounts due. Cash and cash equivalenls Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of Ihree months or less and bank overdrafts. In Ihe statement of linancial position, bank overdrafts are shown wilhin borrowings or cu rrent liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash Management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting Irom a past event thai will probably result in the transler of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Paoe 9
C. A. Rookes Charitable Trust Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the f unctional cu rrency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchanoe differences are are taken into account in arriving at net incomelexpenditure. Leased assets Where the charity enlers into a lease which entalls taking substantially all the risks and rewards ol ownership of an assel. the lease is treated as a finance lease. Leases which do not transf er substantially all the risks and rewards ol ownership to charity are classified as operating leases. Assets held under linance leases are inilially recognised as assets of the charity at thelr fair value at the Inception of the lease or, il lower, at the present value of the minimum lease payments. The corresponding liabillty to the lessor is included in the balance sheet date as a finance lease obligation. Lease paymenls are apportioned between finance expenses and reduction of the lease obllgatlon so as to achieve a constant rate ol interest on Ihe remainlng balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, In whlch case they are capitalised in accordance with Ihe charity's pollcy on borrowing costs. Assets held under finance leases are depreciated in the sarne way as owned assets. Operatlng lease payments are recognised as an expense on a stralght-llne basis over the lease term. In the event that lease Incenlives are recelved to enter into operating leases, such Incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a red uctlon of rental expense on a Slraight-line basis. Pension costs The charlty operates a deflned contribution plan for its employees. A def Ined contribution plan is pension plan u nder which the charity pays fixed contributions into a separate entity. O nce the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets ol the plan are held separately frorn Ihe charity in independently administered funds. Receipt ol donated goods, f acilities and se piices All donated goods. lacilities and services received are recognised within incoming resou rces and expenditure at an estimate of the value to the charily. Paoe 10
C. A. Rookes Charitable Trust Notes to the Accounts 2 Statement of Financial Activities- prior year U nrestricted funds Total funds 2023 2023 Income and endowments from: Donations and legacies Investments Other 41.552 66,808 146.524} 61,836 41,552 66.808 (46.524) 61,836 Total Expenditure on.. Raising fu nds Charitable activities Other 21,908 41,550 2,238 65,696 21,908 41,550 2,238 Total 65,696 Net income (3,860) {3,860) Net income before other gainslllosses) Othergains and losses.. Net movement in funds (3,860} (3,860) (3,8601 {3.860) Reconciliation of funds: Total funds brought forward Total funds carried forward 2,638,270 2,638,270 2,634,410 2.634,410 3 Income from donations and legacies Unrestricted Total 2024 Total 2023 Gift Aid Stratford on Avon Developmenl Co.Ltd 54,937 54,937 41,552 54,937 54.937 41,552 Donated goods, f acililies and services received Total 2024 Total 2023 Gift Aid from Stratford on Avon Development Co Ltd 54,938 41,551 54.938 41,551 Paoe11
C. A. Rookes Charitable Trust Notes to the Accounts 4 Income from investments Un restricted Total 2024 Total 2023 Hathaways Portfolio dividends/(lees) Interest Received f rom Stratford on Avon Development Co Ltd Interesl Received from Handelsbanken 57.000 57,000 52,726 11,517 11,517 10,964 13,593 13,593 3.118 82,110 82,110 66.808 5 Other income Unrestricted Total 2024 Total 2023 Prof itl{Loss) on disposal of Quoted Investments 60,093 60.093 (46,5241 60,093 60.093 (46,524) 6 Expenditure on raising funds Unrestricted Total 2024 Total 2023 Investment management costs Halhaways Portfolio dividendsllf ees) 23,132 23,132 21.908 23.132 23,132 21,908 7 Expend itu re on charitable activities Unrestricted Total 2024 Total 2023 Expenditure on charitable activities Charitable G rants Governance Gosts 45,206 45.206 41,550 45.206 45,206 41,550 Paae12
C. A. Rookes Charitable Trust Notes to the Accounts 8 Other expenditure Unrestricted Total 2024 Total 2023 Legal and professional costs 2,340 2,340 2.340 2,340 2.238 2,238 9 Staff costs No employee received emoluments in excess of £60,000. 10 Investments Freehold Other Other Investment Investments investmenls Property Listed Unlisted Total Cost or revaluatlon At 6 April 2023 Additions Disposals At 5 April 2024 Net book values At 5 Aprll 2024 At 5 Aprll 2023 11 Creditors: amounts falling due within one year 16.335 1,293,315 121,326 (63,4041 1.351,237 500,000 1,809,650 121.326 (63,404) 1,867,572 16,335 500.000 16,335 16.335 1,351,237 1,293,315 500.000 1,867,572 500,000 1,809,650 2024 2023 Accruals 4,840 4,840 2,500 2,500 12 Movement in funds Incoming resources (including other At 6 April gainsllosses 2023 Resources expended At 5 April 2024 Reslricted lunds.. Unrestricted funds: General funds 2,634,410 197,140 (70,6781 2,760,872 Total funds 2,634,410 197,140 {70,6781 2,760,872 Paoe 13
C. A. Rookes Charitable Trust Notes to the Accounts 13 Analysis ol net assets between funds U nrestricted funds Restricted funds Total Investments Net current assets 1,851,237 893.300 2,744,537 16,335 1.867,572 893,300 16,335 2,760,872 14 Reconciliation of net debt At 6 April 2023 At 5 April 2024 Cash flows Cash and cash equivalents 827,261 827,261 70,879 70,879 898,140 898,140 Net debt 827,261 70,879 898,140 Paoe14
C. A. Rookes Charitable Trust Statement of Cash flows for the year ended 5 April 2024 2024 2023 Cash f lows f rom operating activities Net incomel(expenditurel per Statement of Financial Activities 126,462 (3,860) Adjustments for.. Dividends, interest and rents from investments Increase in trade and other payables 1142,203) 2,340 (20.284) 2,500 Net cash used in operating activities 113,4011 (21,644) Cash f lows f rom investing activities Proceeds from sale of investments Payments for investments Dividends, interest and rents from investments 63,404 (121 ,3261 142,203 175,621 20,284 Net cash Irorn investing activities 84,281 195,905 Net cash f rom f inancing activities N et increase in cash and cash equivalents 70,880 174,261 Cash and cash equivalents at the beginning of the year 827.261 780,182 Cash and cash equivalents at the end of the year 898,141 954,443 Components of cash and cash equivalents Cash and bank balances 898.140 827,261 898,140 827,261 Paoe 15
C. A. Rookes Charitable Trust Detailed Statement of Financial Activities for the year ended 5 April 2024 Unrestricted lunds Total funds Total funds 2024 2024 2023 Income and endowments from: Donations and legacies Gift Aid Stratford on Avon Development Co.Ltd 54,937 54,937 41,552 54,937 54,937 41,552 Investments Hathaways Portfolio divid ends/lfees) Interest Received f rom Slratford on Avon Development Co Ltd Interest Received from Handelsbanken 57,000 57,000 52,726 11,517 11,517 10,964 13,593 13,593 3,118 82,110 82,110 66,808 Olher Prof itllLoss} on disposal of Quoted Investments 60,093 60,093 (46,524) 60,093 197,140 60,093 197,140 (46,524} 61,836 Total income and endowments Expendilure on: Investment managemenl costs Halhaways Portfollo dividendsllf eesl 23,132 23,132 21,908 23,132 23.132 21.908 Total of expenditure on ralsing funds 23,132 23,132 21.908 Charitable activities Charitable Grants 45.206 45,206 45.206 45,206 41,550 41,550 Total of expenditure on charitable activities 45,206 45,206 41,550 Legal and professional costs Accountancy and bookkeeping Other legal and professional costs 2,340 2,340 2,160 78 2.340 2,340 70,678 2,340 2.340 70,678 2,238 2,238 65,696 Total of expendlture of other costs Total expenditure Net gains on investments Page16
C. A. Rookes Charitable Trust Detailed Statement of Financial Activities Net incomel{expenditure) 126.462 126,462 (3,860) Net incomel{expenditurel before other gainsl(losses) Other Gains 126,462 126,462 (3,860) Net movement In funds 126,462 126,462 {3,8601 Reconciliation of funds: Total funds brought torward 2,634,410 2,634,410 2,638,270 Total f u nds carried f orward 2,760,872 2,760,872 2,634,410 Page17