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 DeCe￿ber 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 ]￿egular￿ties. 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