RfGISTERED C14ARITY NUMBER: 513363 REI PORT or THE TRUSTE< Ei S AND UNAUDITED f4lNANCIAL STATEMENTS FOR T14E YEAR LI NDED 31 CEI MBER 2023 DAMEI ANNA CHILD'S CHARITY Davies Edwards & Co Chartered Certified Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 8DQ
DAME ANNA CHILD'S CHARITY CONTENTS of4 THE FINANCIAL STATEMII NTS FOR THI YEI AR EINDED 31 CEMBEI R 2023 Page Reference and Admilllstratiye Details Repoi't of the Triistees Independent Ei xaminer's Report Statement of Finanelal Aetlvitles Balance Sheet Note5 to the Financial Statements 7 to 12 Detalled Statement of fi inancial A¢tivAtles 13 to 14
DAMC4 ANNA CHILD'S CHARITY REI FEREI NCE AND ADMINISTRATIVI DETAILS roR TFIE YEIAR NDED 31 DECEI MBEIR 2023 TRUSTEI ES C V J Pugh- Chair N B Morgan - Vice Chair Mi's C Breeze (i'esigtied 5.12.23) Mrs IC Davies P T14ood D J Oweiis Mrs J Powell R Pi'ice Mrs C Pugh PRINCIPAL ADDRESS Clare Davies - Clerk to the Truslees Lower Splashes Purlogue, Clun Craven Amis Sliropshii'e SY7 8LT RECISTCI RED CHARITY NUMBER 513363 INDEPENDENT EI XAMINIR Davies Edwards & Co Chaitered Certified Accounlants Wesl l.odge liainbow Street Leominster Herefordshire HR6 8DQ Page I
DAME< ANNA CHILD'S CHARITY RE4PORT OF THE TRUSTLI IS 40R THE YEAR ENDLD 31 DECII MBER 2023 The tt'ustees present ilieir report with the financial slateinents of tlie ch&i-ity for the year ended 31 DeCeber 2023. The trustees have adopted th¢ provisions of Accountiiig and Reporting by Chai'iti¢s', Statement of Recommeiided Practice applicable to charities preparing Iheii. aLcoLinls iii accordance with Ihe Financial Reporting Standard applicable in the UK Vdnd liepublic ot Ireland (FRS 102) (effective l JanLiary 2019), OBJEI crivis AND ACTIVITIES Constitiition iiiid objectives of th¢ Clillrily The Charity i'emaing true lo its principal of promoting the education of children, includii)g social aiid physical training, who either attended the school prior to closure oi. who reside (or h&ve resided) in (he local areas aiticulated in the Chartiy Commission Scheme; namely, the comiT]unitie8 of Cascob, Diseoed. Litton. Pillelh and Whitton in the County of Powys and as well as other local areas at tlie discretion of the Ti'ustees. Public benefjt In sett'ing our aims and planning our activities the tru9tees have given careful consideration to the Chai'ily ComTnissions general guidanc¢ on publio benefLt and the PBE provisions of FRS 102. ACIIIEVEMEI NT AND PERFORMANCE The Charily airns to promote the educatton of children and young adults who either attended Wliitton Primary School or live in the local area. Grants aTe awarded at the discretion of the Truslees. During the year tlie TrLlStees increased the standard grant award from £350 to £500 to talce into a¢count risings costs. A total of16 grants wer¢ awarded during 2023 amounting to £7,100 (A total of15 grants wei'e awarded during 2022 amounting to £5,100.) 41NANCIAL RIVJEW InaNclal revlew The trugt¢es consider tliat the p¢rfomiance of Ilie charity in 2023 has been salisfactory and has enabled direct charitable expenditure of £7,100 (2022 £5,100), The year lo 31 Decetnber 2023 showed net incoming resourLes of £16,800 (2022 n¢t incoming resoiirces £4,624). The M&G 'Charifund Iinils produced an unrealised loss in the year 01 £712. (2022 unrealised loss £1,787) The trustees believe that existing reserves and incoining resources from investments includiiig the Charity lands are suffi¢ient to maintain the objects of the charity into the foreseeable future. Investment policy and objectives The Irustees adopt a low risk, secure inveslment policy whilst aiming io maximise rel'urns. Reserves policy The Charity's incorning resources arise in the main from the anniial letting of agricultural land, the rent from the School Flouse and from the investment income of the accumulated fund. "Phe maintenance costs can vary considerably from one year to another and in some years can be substanlial, The trustees maintain reserves to balance the fliictuations of both incoming resources and expenditure from one year to at]other and to provide investment income. The accumulated funds at 31 December 2023 amounted lo £1.847,751 of which £1,620,000 was attributable to the v&lue of investtnent property, FUTURE PLANS The Irustees will continue to maintain the objectives of promolitjg the education of pupils up to the age of 25. Page 2
DAME ANNA C141LDIS C14ARITY REI PORT OF THE TRUSTEES roR THE YEAR EtNDED 31 DCICEMBER2023 s'rRUCTURI, COVERNANCEI AND MANAGEMENT Coverniiig doLiinieiit The Charity is controlled by its goveining dociiment dated 7 Api'il 1982 and siibseqLi¢nt ainelldmeiits aiid constitLltes ai) uiiincoi'porated Cliarity formerly knowii as D&me Aniia Cliild's Endowed Scliool. Tlie Cl)arity can trace the originlll benefaction to tlie early eigliteentli century, Recruitment aiid tralnlng of new trustees The tt'ustees al'e co-opted and re-elected yeorly. Tl)e trustees are i'ecruited lor ilieir breadth and depth of knowledge and experienc¢. Ti'ustees are encouraged to undei'go training to brief them on tlieir legal obligations uiider Charity L&w. On appointm#nt tliey are brief¢d on the contents of the Trust deed, the committee and decision iiiaking processes &nd the recent finan¢ial perfoiThance of the Charity. Rel#ted partles Two Gommittee niembers toolc grasskeep froin the charity duriiig the yeai-. A separate SLib committee {Tlie Land Coininitt"ee) handles the grass letting and any trustees who tendei- for the laiid al'e not periiiilled to serve on it, This avoids any conflict ot" interest arisiiig. Tlie grass l¢ttings are handled on behalf of the charity by ali independent agent. During the year one ¢dLLcational grant was paid to a Trustee's child, no beneficial treatment was i'eceived and the related Trustee was not involved in the approval of the grant. Risli management The trustees have a duty to identify and review the risks lo which tlie Charity is exposed and to ensLire appropriate conlrols are in place to provide reasonable &ssur&iice against fraud and error. The principle risks faced by the Charity lie in the performance of investments and operational risks regarding the capacity to make effective grants, to mitigale risk the trustees review investments and graiils annually. STATEMENT of4 TRUSTLI KS, RCI SPONSIBILITIES The trustees are responsible for prepai'ing the Report ot- th¢ Trustees and the financial statements in acLordance WLth applicable law and United Kingdom Accounting Standards (United Kingdom G¢n¢rally Accepted Accounting Practice). The law applicable to charilies in ngland and Wales, the Charities Act 2011, Charity (Accouiits and Reports) Regulations 2008 and the provisions of Ihe trust deed requires tlie trugtees to prepare financial stateinents for each finc1ncial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the inconie and expenditure, of the charity for thai period. In preparing ihosc financid sthtements, th¢ trustees are required to selecl suitable accounting policies and then apply them consistenlly. observe the rnethods and pi'inciples in the Charity SORP. make judgen]¢ntS (tnd estimates that are reasonable and prudent. pi'epare tlie financial statements on the going concern basis LLnless it is inappropi'iate to presume that the charity will conlinue in bLisiness. I'he trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of ihe charity and to enoble thein to erksure that the financial sialemerkts eomply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 ]egularties. Approved by order of the board of trLl8tees 011 and signed on ils behalf by., CVJPugh-Chair- ustee l>a¥e 3
INDEI>ENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAME ANNA CHILD'S CHARITY Independeiit exaniiiier's report to the Irustee5 of Dame Aiiiiu Cliild's Cli&irily I repori to Il)e cliiirily Irusie¢s Iiiy exaiiiiii<i1ion ol. the accoui)Is ol- DLiin¢ Ani)(I Cliild's Cliarily (Ilie I"rust) lor tlie year ended 31 Deceinber 20?3. Responsibilities biisis of report As the charity triisiees of the Trusi you are responsible for the preparation of the accounts in accordaiice with Ihe reqLiiremen(s of Ihe Charilies Aci ?0 I l ('the Act,). I repori in respect of my examination of the Trusvs accounis carried out under Section 145 of the Act and it) carrying out my examination I have followed all applicable Directions given by Ihe Charity Cominission under Seciion 145(5}(b} of the Act. Independent examiner's statement I have completed my examina(ion. I confirni Ihat no maieTial matters have come to my attention in conneclion with the examination giving me cause 10 believe that in any material respect- accolinting records were not kepl in respeci of the Trust as required by Section 130 ofthe Act- or the accounts do noi accord wilh those records- or the a¢¢ounis do not comply with the applicable requiremenis concerning the fonn and conient of accounts set oul in the Charities (Accounis and Repons) Regulaiions 2008 other than any requirement that the accounts give a (rue and fair view which is noi a tnaller considered as part of an independent examination. I have no concerns and have come across no olher mauers in connection with the exatninaiion to which aitenlion should be drawn in ihis report in order 10 enable a proper undersianding of Ihe accounts to be reached. R A Edwards BA (H on.behalf of Davies Edwards & Co Chartered Certified Accounlants West Lodge Rainbow Street Leominster Heretordshire HR6 8DQ 24 June 2024 Date: Page 4
DAME ANNA CHILD'S CHARITY STATEI MENT OF fi INANCIAL ACTIVITIEIS FOR THE YEAR EI NDED 31 DECIMBCI R 2023 2023 Uiirestricted fund 2022 Total ftinds Notes INCOME AND ENDOWMEI INTS FROM Investment in¢oin¢ Other incoine 38,028 1,496 30,798 1.512 Total 39.524 32,310 EXPENDITURE ON Raising funds 12,403 19,465 ChAI'itllble activities Educational grants 7.ioo 5,100 Other 3,221 3,121 Total 22,724 27,686 NEI T INCOM 16,800 4,624 RII CONCILIATION OF FUNDS Total funds brought forward 1,830,951 1,826,327 TOTAL FUNDS CARRIED FORWARD 1,847,751 1,830,951 The notes forni part of these financial statements Page S
DAME ANNA CIIILD'S CHARITY BALANCE SHEEIT 31 DEI CCI MIJER 2023 2023 UnrestLlCted fuiid 2022 Total funds Notes FIXED ASSETS Tangibl¢ assets Investmeiits Investments Investmeni propety 1,528 1,698 169,578 1,620,000 170,290 1,620,000 1,791,106 1,791,988 CURREI NT ASSETS Debtors Cash ai b&nk 5,064 54,400 3,444 36.519 59,464 39,963 CREI DITORS Amounts falling dLie within one year 10 (2,819) (I,000} NEI T CURRENT ASSEI TS 56,645 38,963 TOTAL ASSETS LES,S CURRENT LIABILITIES 1,847,751 1,830,951 NET ASSETS 1,847,751 1,830,951 FUNDS Unrestricted funds 1,847,751 1,830,951 TOTAL FUNDS 1,847,751 1,830,951 I"he financial slatements were dpproved by the Board of TrLlStees and aulhorised for issue on i(J41 .T..%,y,,..,,..,,. and were signed on its belialf by: CVJPugh-Chair-Tr tee N B Mor£&ii Ice Chair- Trusl'ee The notes form paTI of these financial statements Pag¢ 6
DAME ANNA C141LD'S CHARITY NOTEI S TO THCI fiif+lANCIAL STATEMEI NTS FOR THE YCI AR NDED 31 DCCEMBfR 2023 ACCOUNTINC POLICIES Biisis ol. pi'epiiring tlie fineal stiltements The financial stateiiients ot tl)e chai'ity, which is a public benefit eiitily uiider FRS 102, Iiave been prepared in accordarice witli the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statenieiit of Recoiiiinended Practi¢¢ applicable to ¢l)ai'iti¢s pi'epariiig tlieir ac¢oLJnts iii accoi'dance willi ie Financial Reporting Standard applicable iii the UIC and Republic ot Ireland (FRS 102) (effective I January 2019),, Fiiian¢ial Repoiting Standard 102 'The Financial RepoTting Standard applicable in tlie UK and Republic of Ireland, and tlie Charities Ac¢ 201 l. Tl)e tinancial statements hllve been prep<iied Lindei. the historical cost convenlion, with the exception of investment8 whi¢li are iiicluded at iiiarket value. as niodified by the i'evalu&lion of certain assets. Income All income is recognised in the Statement of Financial Activities once the cliarity has entitlement to the funds, it is probable that the income will be received and the amount can be measiired reliably. Ei xpenditure Liabilities are recognised as expenditure as soon as there is & legal or constructive obligatioii committing the chai'ity to that expenditure, it is probable that a Iraiisfer of econornic benefits will be iyquii'ed in settleEnent and the amount of the obligation can b¢ measured reliably. Expenditure is account¢d for oli an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consisteiit with the use of resources. Grants offered subject to conditioiis which have not been met at the year end date are noted as a ¢oinmitment but not accrued as expenditure. Amortisaliori lease ai'rangement costs L£ase arrangement cosls are ainortised evenly over the period of the 5 year lease. Tangible fixed assets Depreciation is pi-ovided at tlie following annual rntes in order to write off each asset over ils eslimAted useful life. Equipment IO% on r¢ducing balance Investment property Investments are valued al 31 December 2023. Taxatlon The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accoTdance with the charitable objectives ai the disLTetion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictioiis ai'ise when specified by the donor or when funds al'e raised for particular restricted purposes. FLlrther explanation of the natuye and purpose of each fund is included in the notes to the financial statements. Page 7 continued..
ANNA CHKLD'S CHARITY NOTES TO THE filNANCIAL STATEMENTS - contlniied FOR THE YEI AR EI NDII D 31 DICCMBER 2023 INVEI STMEI NT INCOME 2023 2022 Grass letting Rent- School house and old School lease M&G Cliarifiind units/ National Savings income bonds Bank inlei'est l9,875 11,600 5,997 556 16,850 I 1,100 2,816 32 38,028 30,798 DETAILED ANALYSIS OF INVIISTMENT INCOME RCI NT - SCHOOL HOUSE AND OLD SCHOOL LEASI 2023 2022 Sehool 14oLise Former School 6.600 5,000 6,100 5,000 11.600 ii,ioo RAISING FUNDS Ittve5tment management eosts 2023 2022 MaintenanLe - cliari¢y Iv4nds Fertiliser and lime Environment agency Repairs to rental properiies Grass l¢tting expenses Annual rent dinner InsLirance Valiiation fees re land and prop¢rty Rent Smart Wales Bad debt Depreciation Unrealised losses oli investments 922 2,950 373 2,838 973 4,020 352 6,342 1.023 657 2,436 482 630 2,600 217 833 560 1,787 712 12,403 19.465 Page 8 colltinued.,.
DAME ANNA CHILI)'S CHARITY NOTII S TO THE FINANCIAL STATEMlI NTS - coiitljiued FOR THE YEIAR EI NDEI D 31 DlliCEMBEIR 2023 TRUSTEI El S, REMUNCRATION AND BfNEfilTS There were no trustees, reiiiuneratioii or oilier benefits for the yeai. ended 31 Deceinber 2023 nor foj. Ilie year ended 31 Deceinber 2022, Trustees, expeiises There weie no trLlStees' expenses paid for Ilie year elided 31 December 2023 noT for the year eiicled 31 D¢ceinber 2022. INTANGIBLE FIXED ASSETS Lease arrangement costs COST At l January 2023 and 31 December 2023 4,200 AMORTISATION At l January 2023 and 31 Decetnber 2023 4,200 NEI T BOOK VALUE At 31 December 2023 At 31 December 2022 TANCIBLII FIXED ASSETS Equipment COST At l January 2023 and 31 DecembeT 2023 3,193 DEI PRII CIATION At l January 2023 Charge for year 1,495 170 At 31 December 2023 1,665 NEIT BOOIC VALUE At 31 December 2023 1,528 At 31 December 2022 1,698 Page 9 continiied..,
DAME ANNA CHILD'S CHARITY NOTEI S TO THE FINAP4CIAL STATLMEI NTS - coiitinLied 40R THE YLIAR ENDCI D 31 DECCMBER 2023 FIXEI D ASSET INVESTMENTS National savings income boiids Charifund Totals MARKEI T VALU Al l January 2023 Revalualions 30,290 (712) 140,000 170,290 (712) Al 31 Deceinber 2023 29,578 140,000 169,578 NEIT BOOK VALUE At 31 December 2023 29,578 140,000 169,578 At 31 December 2022 30,290 140,000 170,290 There were no investment assets outside the UK. INVEI STMII NT PROPERTY 2023 2022 Charity lands School House Old School Building 1,020,000 425,000 175,000 1.02U,000 425,000 175,000 1.620.000 1,620,000 Investment i)roperty is .%tated as per Mccartneys Vvdluation daled 17 March 2022. The trustees have considered the last valuation undertaken and are salisfied tlicre has b¢en no sigi)ificELnt variation in value. DEBTORS: AMOUNTS FALLING DUE WITHIN ONEI YEAR 2023 2022 Debtors VAT 4,910 154 3,192 252 5,064 3,444 Page 10 continued...
DAME ANNA CHILDIS CHARITY NOTCI S TO TkIEI FINANCIAL STATEMENTS - eontiiiiied FOR THE YCIAR NDED 31 DECEMBER2023 10. CRII DITORS: AMOUNTS FALLING DUE WIT141N ONEI YEAR 2023 2022 Tr<ide ci'editors 2,$19 1,000 MOVEMENT IN FUNDS Net niovement in fuiids At 31112123 At 111123 Unrestrieted funds General fLJnd 1,830,951 16,800 1,847.751 TOTAL IIUNDS 1,830,951 l6,800 1,847,751 Net movemeiit in funds. included in tlie above ar¢ as follows: Incoining resources Resolirces expended Movement in fiinds Unrestricted fiinds General fund 39,524 (22,7?4) 16,800 TOTAL VUNDS 39,524 (22,724) 16.800 Comparatives for movement in fiinds Net movement in funds At 31112122 At 111122 Unrestrieted fiinds General fund 1,826.327 4,624 1,830,951 TOTAL FUNDS 1,826,327 4,624 1,830,951 Comparative net movement in funds. inollided in the above are as follows.. Incoming resources Resources expended Movement in funds Unrcstrieted I'unds Geiieral fund 32,310 {27,686) 4,624 TOTAL FUNDS 32,310 (27,686) 4,624 Pagell continued.,.
DAME ANNA CHILD'S CHARITY NOTES TO THE FINANCIAL STATEMENTS- L'ontinued IOR T14E YEAR EITr4DED 31 DECEMBER 2023 11, MOVEMENT IN FUNDS- coi)tinued A cui'rent yefir 12 nionths and pi'ior yeai. 12 montlis conibined position is as follows,. Net movernent in fuiids Al 3l112123 At 111122 Unrestrieted funds General fund I,826,327 21,424 1,847,751 TOTAL FUNDS ,826.327 21,424 1,847,751 A curreni year 12 inonths and prior year 12 months combined net movetnent in tunds, inclLided in tlie above are as follows., Incoming resources Resoiirces expended Movement in funds Unrestl"iLted fiinds Oeneral fund 71,834 (50,410) 21,424 TOTAL FUNDS 71,834 (50,410) 21,424 12. RCI LATED PARTY DISCLOSUREI S Two trustees took grasskeep from the Cliarity dLiring the year. A separate sub coullnittee of trustees (The Land Corllmittee) handles the grass letting and any trustees who tender for ihe land are not peiinilted to serve on it. This avoids any conflict of interest arising. The grass lettings are handled on behalf of ihe ¥hariiy by an independent agent, During the year one educational grant was paid to a Trustee's child, no beneficial treatment was received and the related Trustee w&s not involved in the fApproval of the graiil. Page 12
DAMEI ANF4A CI4ILD'S CHARITY DETAILII D STATEMEI NT of4 f4 INANCIAL ACTIVITIIS IOR THE YIIAR EINDCD 31 DECEMBER 2023 2023 2022 INCOME AND Ef+]DOWMEI NTS i)Yestm¢llt Income Grass lettiiig ent - School house and old School lease M&G CliarifLtnd unitsl National Saving8 incom¢ bonds Banlc iiiterest 19,875 11,600 16.850 5,997 556 2,816 32 38,028 30,798 Other incorne Wayleave8, water, drainage charges and sundry income rient - CoiT)munity hall ,495 1,511 1,496 1,512 Totk)l ineomlng resources 39,524 32,310 IXPEI NDITURE Investment managem¢Dt costs Maintenance- charity lands Fertiliser and litne nvironment agency epairs to rental properties Grass letting expenses Annual rent dinner Insurance Valuation fees re land and property Rent Smai"I Wales Bad debt Amortisation of intangible fixed assets UnrealÉsed108s¢s on asset investments 922 2,950 373 2,838 1,161 630 2,600 973 4,020 352 6,342 1,023 657 2,436 482 217 833 560 1,787 712 12.403 19,465 Charltable activities Educalional grants 7,100 5,100 Support costs Management Sundries Clerks remLinei'ation 103 1.920 50 I,900 2.023 1,950 Thig page does J)ot form part of the statutory finaiicial statements Page 13
DAMCI ANNA CHILD'S CHARITY DEITAJLEI D STATEMEI Tr4T OF fillYANCIAL ACTIVITllI S IOR THE YEAR NDI1 D JI DEICEMBCR 2023 2023 2022 Maiixgement Finthiiee Bank charges 70 72 Other Depreciation of iaiigible fixed assets 170 189 Govei'iianee costs Accoui)lancy fees 958 910 Total i'esources expended 22,724 27,686 Net income 16,800 4,624 This page does not form part of the statulory financial statementx Page 14