REGISTERED CHARITY NUMBER: 513363 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR DAME ANNA CHILD'S CHARITY Davies Edwards & Co Chart¢red Certified Accountsnts West Lodg¢ Rainbow Street Leominster Herefordshire HR6 8DQ
DAIVJ.E ANNA CHILDtS CHARITY CONTENTS OF THE FINANCIAL STATEMEWTS FOR THE YEAR ENDED 31 DEcEIBER 2024 Page Reference and Administrative Detalls Report of Ihe Trustees Independent Examinerls Report Stalement of Financial Activities Balance Sheet Notes to the Finaneial Statements 7 to 12 Detailed Statement of Financial Activities 13 to 14
DAME ANNA CHILDIS CHARITY REFERENCE AND IIDMINISTRATIVE DETAILS FOR THE YEAR INDED 31 DECEMBER 2024 TRUSTEES C V J Pugh - Chair N B Morgan- Vice Chall. (resigned 10.7.24) R Price- Vice chair Mrs J fvIorris (appointed 10.6.24) Mrs K Davies PTHood D J Owens Mrs J Powell Mrs C Pugh PRINCIPAL ADDRESS Clare Davies - Clerlc to the Trustees Lower Splash¢s Purlogue, Clun Craven Arms Shropshire SY7 8LT .RLI GISTERED CHAIUTY NUMBER 513363 INDEPENDENT EXAMINER Davies Edwards & Co Chartered Certified Accountants West dge Rainbow Street Leotninstsr Herefordsbire FIR6 8DQ Page I
DAME ANNA CHILD'S CHARITY REPORT OF THE TRUSTEES FOR THE YEAR EI NDED 31 DECEMBER 2024 The trustees present their repoit with the financial statements of the ch'Ity for the year ended 31 December 2024. The trustees have adopted the pi'ovisions of Accounting and Reporting by Charities: Ststsinent of Recommended Practice applicable to charities preparing their accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019). During the year the Charity sadly suffered the loss of a key trustee, the vice chair Nigel Morgan. Nigel has made a considerable contribution to the charity over the yeaTS and his enthusiasm dedication will be greatly missed. OBJECTIVES AND ACTIVITIES Con5tilution and objectlves of Ihe Charity The Charity rernains trlie to its principal of promoting the education of childreffj including social and physical training, who either attended the school prior to closw'e or who reside (or have resided) in the local areas articulated in the Charity ConMIis3ion Scheme. namely, the coinmunities of Cascob, Discoed, Litton, Pilleth and Whitton in the County of Powys and as well &s other local areas at the discretion of the Trustees. Public benefit In setting our aims and pla]ming oiir artivities the trustees have given carefftl cousideration to the Charity Commissions general guidance on public benefit and the PBE provigions of FRS 102. ACHIEVEMENT AND PII RFORMANCE Tbe Charity aims to promote the education of Ghildren and young adults who either attended Whitton Primary School or live in the local area. Grants are awarded at the di5CTetion of the Trustee5. Durillg the previous year the Trustees increased the standard grant award from £350 to £500 to take into account risings costs. A total of 8 grants were awarded during 2024 arnounting to £4,000. A total of16 grants were awarded during 2023 aOunting lo £7,100. FINANCIAL REVIKW Financial revfiew The tt'ust¢es Consider that the perfornianoe of the Charity in 2024 has been satisfactory and has enabled direct charitable expenditure of £4,000 (2023 £7,100). The trusteeg continuo to actively seek grallt applications and raise awareness of the charity to potential beneficiaries through advertisement in local press and word of tnouth. The year to 31 December 2024 showed net incoming resources of £18,717 (2023 net iJ]comiug resources £16,800). Tbe trustees opted to change the M&G Charifund investment type in the ye, from income to accumulation units. The M&G Charifund income units produced a gain in the year of £1,772. (2023 loss £712). The M&G CharifLmd accumulation units produced a loss upon revaluation of £941. The Mistees believe that existing reserves and incoming resources from investments including the Charity lands are sufficient to maintain the objects of the charity i.nto the foreseeable future. Investm¢llt policy and objectives Tbe trustees adopt a low risk, secure investtnent policy whilst ain]ing to maximise returns. Page 2
DAME ANNA CHILD'S CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves policy The ChaTity's incoming r¢8ources arise in the n1n from the annual letting of agricultural land, the rent from the School House and from the investment income of the a¢¢umulated fund, The ninten&Ce costs vary onsid¢i'ably fi'om one year to another and in some years can be substantial. The trustees maintaln resfflyes to balance the flucknations of both incoining resources and expenditt]r¢ from one year to another and to provide inveslment income. The accumulated funds at 31 December 2024 amounted to £1,866.468 of wliich £l,620,000 was atlyibutable to the valiie of nVeStment property. FUTURE PLANS The trustees will continue to maintain the objectives of proinotillg the education of pupils up to the age of 25. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity is controlled by its governing document dated 7 A.11 1982 and subsequent amendments and constittites uninrorpordtod Charity fomerly known as Dame Atma Child's Endowed School. The Charity Gan trace the original benefaction to the early eighteenth century. ReerultnJenÉ and training of new trustees The trustees are co-opted and re-elected yearly. The trustees are recrnited for their breadth and depth of knowledge and experiell¢e. Trustees are encouraged to undergo training to brief them on their legal obligations under Charity Law. On appointment they are briefed on the ¢ontents of Ihe Trust deed, tbe committee and decision nwking processes and the reLent Fancial perforniance of the Charity. Related parties Two conunittee llMberS tooli grasskeep from the charity during the year. A separate sub committee (The Land Committee) handles the grass letting and any trustees who tender for the land are not pern]itted io serve on it, This avoids any confliot of interest arising. The grags lettings are handled on behalf of the Charity by an independent agent. Risk management The trustees have a duty to identify and review the risks to which the Charity is ¢xposod and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error, The principle risks faced by the Charity lie in the performance of investments alld operational rigkg regarding the apacity to make effective grants. To mitigate risk the trustees review investments and grants annually. Approved by order of the board of trustees on . . and signed on its behalf by., C V J Pugh - Chair- Trus Page 3
INDEPENDEIYT EXAMINER'S REPORT TO THE TRUSTEES OF DAME ANNA CHILD'S CHARITY Independent examiner's report to the Irustees of Dame Anna Child's Charity I report to the charity trustees on my examination of the accounts of Dame Anna Child's Charity (the TTUSt) for the year ended 31 December 2024. 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 Trusvs accounts carried oul under Section 145 of the Act and in carrying oul my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's stalement I have coinpleted my examination. I conf7 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. or the accounts do not comply with the applicable requiremenls concerning the lorni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. R A Edwards BA (Hons) FCCA on behalf of Davies Edwards & Co Chartered Certified Accountants Wesl Lodge Rainbow Street Leominster Herefordshire HR6 8DQ Date.. 13. J.y.no. 29.25.... Page 4
DAME ANNA CHILDIS CHARITY STATEMEIYT OF FIIYANCIAL ACTIVITIES FIOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted fid 2023 Total funds Notes INCOME AND ENDOWlVtENTS FROM Investment income Other inL'ome 41,521 1,672 38,028 1,496 Total 43,193 39,524 EXPENDITURE ON Raising fimds 17,290 12,403 Charltable aetivities Educational grants 4,000 7,100 Other 3,186 3,221 Total 24,476 22,724 NET INCOME 18,717 16,800 RECOIYCILIATION OF FUNDS Total funds brought forward 1,847,751 1,830,951 TOTAL FUNDS CARRIED FORWARD 1,866,468 1,847,751 The notes form part of these financial statements Page 5
DikME ANNA CHILD'S CHARITY BALANCE SHEET 31 DECEMBER 2024 2024 Um'estiicted fund 2023 Total nds Notss FIXED AS'SETS Tangibl¢ ass¢ts Investmtnts Investments Investn]ent woperty 1,375 1,528 171,005 1,620,000 169,578 1,620,000 1,792,380 1,791,106 CURRENT ASSETS Debtors Cash at bank 8,753 66,632 5,064 54,400 75,385 59,464 CRKDITORS Amounts falling due within one year (1,297) (2,819) NET CUIUIEI NT ASSETS 74,088 56,645 TOTAL ASS4 TS LESS CURRENT LIABILITIES 1,866,468 1,847,751 NET ASSETS 1,866,468 1,847,751 FUNDS Unrestricted funds 1,866,468 1,847,751 TOTAL FUNDS 1,866,468 1.847,751 The fLnan¢ial statements wor¢ approved by the Board of Trustees and authorised for issue on and wei'e signed on its behalf by: C V J Pugh- Chair- Tru R Price - Vice chair - Tntee The notes fonn part of these financial statements Page 6
DAME ANNA CHILDIS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basls of preparlng Ihe financial statements The fllmicial statements of tbe charity, wbich is a piiblic benefit entity under FRS 102, bave been prepared in accordance with the Charities SORP (FRS 102) 'AccOltIng and Reporting by Ch'ItieS: stat¢ent of Recojntllended PraGtico applicable to ¢litu'ities prepariLig th¢ir accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of Treland (FRS 102) (effective I January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Repiiblic off Ireland, and the Charities Act 201 l. The financial statem¢nts have been prepared under the historical cost convention, with the exception of investments which are illclEed at nHrket value, as modified by the revaluation of certain asgets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fimds, it is probable that the incoin¢ will be received and tbe amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon ds there is a legal or constructive obligation committing the charity to that expenditure, it is probable tbat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably, Expenditure is accounted for on an accrnals basis and has been olassified 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 consistent with the use of resources. Grants offered Subject to collditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Amortlsation lease arrangement costs Lease arrangement costs were amortised ¢v¢nly over the period of the initial 5 year lease. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated use1 life. Equipment IOO/o on reduciiig balance Investmenl property tnve5tments are valued at 31 DecenibeT 2024, Taxatlon The cliarity is exempt trom tax on its Charitable activities, Fund aecounting Unrestricted funds can be used in accordance with the charitable objectives at the discretioll of the trustees. Restricted funds can only be used for particular restricted pury)oses within thc objects of the charity. Restrictions arise when specified by tbe donor or when funds are raised for partioular restricted purposes. Further explanation of the nature and pury)ose of each fund is included in the notes to the financial statements, Page 7 continued...
DAME ANNA CHILD'S CHARITY NOTES TO THE FtNANCIAL STATEMENTS - continued FOR THEI YEAR ENDED 31 DECEMBER 2024 INVESTMLI NT INCOME 2024 2023 Grass letting Rent - School house and old School lease M&G Charifund unitsl National Savings income bonds Gains on i'eyaluation of investments Bank interest 20,200 11,602 7,083 1,772 864 19,875 11,600 5,997 556 41,521 38,028 DETAILED ANALYSIS OF INVESTMENT INCOME RENT - SCHOOL HOUSE AF4D OLD SCHOOL LEASE 2024 2023 School House Fornier School 6,600 5,002 6,600 5,000 11,602 11,600 RAIS.ING FUNDS Investment management eosts 2024 2023 Maintenance - chai'ity lands Fertiliser and lime Environment agency Repairs to rental properties Grass letting expenses Atmual rent dinller Insurance Professional fees Rent Smart Wale5 Bad debts Loss on revaluation of investjnents 4,112 5,486 393 581 1,180 375 2,695 1,200 922 2,950 373 2,838 1,161 630 2,600 217 327 941 712 17,290 12,403 Page 8 continued...
DAME ANNA CHILDIS CHARITY NOTES TO THE FINANCIAL STATEME.NTS- continiied FOR THE YEAR ENDED 31 DECEMBER2024 TRUSTEES, RMuRATIoTr4 AND BENEFrrs Tliere were no trustees, remunth'ation or other benefits for the year ended 31 Decenther 2024 nor for the year ended 31 Decenlber 2023. Trustees, expenses There w¢re no trustees, expenses paid for the year ended 31 December 2024 nor for the year fflided 31 December 2023. INTANGIBLE FIXED ASSEI TS Lease &rrang¢ment costs COST At l January 2024 and 31 December 2024 4,200 AMORTISATION At l January 2024 and 31 December 2024 4,200 NET BOOK VALUE At 31 Decejnber 2024 At 31 December 2023 TANGIBLE FIXII D Asslli TS Equipment COST At l January 2024 and 3 1 DeceftLber 2024 3,193 DEPRECTIoN At l January 2024 Charge for year 1,665 153 At 31 Decetllber 2024 I,818 NET BOOK VALUE At 31 December 2024 1,375 At 31 December 2023 1,528 Page 9 continued...
DAMI ANNA CHTLDIS CHARITY NOTES TO THE FINANCIAL STATEMII NTS- continued FOR THlI YEAR ENDII D 31 DEI CEMBER 2024 FIXED ASSET INVESTMENTS M&G charlnd income units M&G ch,1ftfftd accumulation units NS&I income bonds T(rtals MARKET VALUE At l January 2024 Additions Disposals Revaluations 29,578 140,000 169,578 31,946 (31,350) 831 31,946 (31,350) 1,772 (941) At 31 December 2024 31,005 140,000 171,005 NET BOOK VALUE At 31 December 2024 31,005 140,000 171,005 At 31 December 2023 29,578 140,000 169,578 There were no investment assets outside the UK. Duiing the year the charity converted the M&G Chlfulld income units to M&G ChaTifund accumulation units. The income in respect of the accumulation units is not di8tributed, but retained in the fwid and is reflected in the price of the units. INVESTMCI NT PROPERTY 2024 2023 Charity lallds School House Old School Bttilding 1,020.000 425,000 175,000 1,020,000 425,000 175,000 1,620,000 1,620,000 Investment property is stated as per Mccartneys valuation dated l7 March 2022. The trustees have consider¢d the It valualion Ulldertak¢n and are sati8fi¢d there has been iio SI11f1Cant variation in value. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Debtors VAT 8,474 279 4,910 154 8,753 5,064 Page 10 continued...
DAIlE ANNA CIIILD'S CHARITY NOTES TO THE FINANCIAL STATEmNTs - Continued FOR TFIE YII AR ENDED 31 DEI CEMBER 2024 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONI YLI AR 2024 2023 Trade ¢reditOTS 1,297 2,819 11. MOVEMENT IN FUNDS Net movement in fimds At 31112124 At 111124 Unrestrieted funds General fijlld 1,847,751 18,717 1,866,468 TOTAI, FUIYDS 1,847,751 18,717 1,866,468 Net movement in funds, included in the above are as follows: Incoming resources Resources oxpended Movement in thnds Unrestricted fund5 Gelleral fund 43,193 (24,476) 18,717 TOTAL FUNDS 43,193 (24,476) 18,717 Comparatives for movemont Ill funds N¢t ovement in thnd8 At 31112123 At 111123 Unrestricted funds G¢neral fund 1,830,951 16,800 1,847,751 TOTAL FUNDS 1,830,951 16,800 1,847,751 Comparative net movement in nds, included in the above are as follows.. Incoming resources Resources expended Movement in fund5 Unrestricted funds General nd 39,524 (22,724) 16,800 TOTAL FUNDS 39,524 (22,724) 16,800 Page 11 continued...
DAME ANNA CHILD'S CHARITY NOTES TO THL FINANCIAL STATEMEI NTS - continued FOR THE YEAR EIYDED 31 DECEMBER 2024 I I. MOVEMEIYT IN FUIYDS - contlnued A ouirent year 12 month8 and prior year 12 inonths combined posltion is as follows., Net movement in funds At 31112124 At 111123 Unrestricted funds General fund 1,830,951 35,517 1,866,468 TOTAL FUNDS 1,830,951 35,517 1,866,468 A current year 12 months and prior year 12 months combined net moveinent in funds, included in the above are as follows.. Lncoming resources Resources expended Moveinent in thnds Unrestricted funds Generdl fund 82,717 (47,200) 35,517 TOTAL FUNDS 82,717 (47,200) 35,517 12. REI LATED PARTY DISCLOSURLI S Two trustees took a5$keep from the ¢harity during the year. A separate sub con]mittee of trustees (The Land Conynitteo) handles the grass letting and any trustees who tender for the land are not pennitted to serve on it. This avoids any conflict of interest arising. The grass lettings are handled on behalf of the charity by an independent agent. Page 12
DAME ANNA CHILD'S CHARfTY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDII D 31 DECEMBER 2024 2024 2023 INCOME AIYD ENDOWMENTS Xnv¢5tment income Grass letting Rent - School house and old School lease M&G Charifund unitsl National Savings income bonds Gains on revaluation of investtnents Banli interest 20,200 11,602 19,875 11,600 7,083 1,772 864 5,997 556 41,521 38,028 Other income Wayleaves, water, drainage charges and sundry incorne Rent - Commimity hall Sale of hawtborne seed 1,481 1,495 190 1,672 1,496 Total incomÉng resources 43,193 39,524 EXPEIYDITURE Investment management costs Maintenance - charity lands 'Fertiliser and lirne Environment agency Repairs to rental properties Grass letting expenseg Annual Tellt dinner Insurance Professional fee8 Rent Snrt Wale5 Bad debts Losses on revaluation investments 4,112 5,486 393 581 1,180 375 2,695 1,200 922 2,950 373 2,838 1,161 630 2,600 217 327 941 712 17,290 I2,403 Charilable aetivlties Educational grants 4,000 7,100 Support Costs Management Sundries Clerks remuneratton 38 1,920 103 1,920 1,958 2,023 This page do¢8 not forftn part of the statutory financial statenlents Page 13
DAME ANNA CHILD'S CHARITY DETAILED STATELIqLI INT OF FINANCIAL ACTIVITIES FOR THE YEAR INDED 31 DECEMBER 2024 2024 2023 Management Fillance Bank charges 69 70 Other Depreciation of tangible f¢d asseis 153 170 Governance eosls Accoiintancy fees 1,006 958 Total resourGo8 expended 24,476 22,724 Net income 18,717 16,800 This page does not forni part of the statlrtory financial statements Page 14