## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST**
## **TRUST DATED 30 NOVEMBER 1983**
## **ANNUAL REPORT**
## **AND**
## **FINANCIAL STATEMENT**
**5 APRIL 2024**
**TRUSTEES**
**R V Wiglesworth**
**J M P Vereker**
**R N Button M White**
## **Correspondence Address:**
**Highdown House 11 Highdown Road Sydenham Leamington Spa CV31 1XT**
## **CHARITY REGISTRATION NUMBER**
**516301**
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST**
## **YEAR ENDED 5 APRIL 2024**
## **INDEX**
##
**1 – 2** Trustees Report **3** Income and Expenditure Account **4** Balance Sheet **5** Schedule of Investments and Income **6 – 8** Notes to the Accounts **9** Independent Examiner’s Report
**THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST TRUSTEES REPORT**
The Trustees present their report and accounts for the year ended 5 April 2024.
## **Trustees**
The Trustees named on the first sheet have served throughout the year. The Trustees have the power to appoint new Trustees there being a minimum of three in number.
Any Trustee engaged in any profession shall be entitled to charge and be paid all usual professional fees and all other charges for work done by him or his firm in connection with the execution of the Trust.
Recruitment, induction and training of Trustees is undertaken on an individual basis when the need arises.
## **Investment Powers**
The Trust Deed gives full unrestricted power of investment and the Trustees require a balance of income and capital growth from the investments. Canaccord Genuity advised on the portfolio and collected the income therefrom.
## **Constitution and Objects**
A discretionary Trust was created on the 28 February 1983 by Mrs E W Griffiths. The life interest in that Trust ceased on 28 February 1994 and the Charity Commissioners agreed that the assets of that Trust should be incorporated into the Charitable Trust of the 30 November 1983.
## **The income to be used for the following purposes:**
1. To defray the expenses of the administration of the Trust.
- And subject thereto:
2. To pay or apply the income for the benefit of such charitable institutions as the Trustees shall think fit principally within the Warwickshire area.
## **The Capital to be either:**
1. Retained in the form when the Trust was set up.
or
2. The Initial Trust Funds realised but with full unrestricted power of reinvestment.
- or
3. Amalgamated with some other Charitable Trust.
Page 1
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST TRUSTEES REPORT (CONTINUED)**
## **Policies**
The Trustees select appropriate local charities and make distributions after the year end when the financial position is known.
## **Risk Policy**
The trustees have assessed the major risks to which the charity is exposed and are satisfied the systems are in place to mitigate their exposure to the risks.
## **Public Benefit**
The objects of the charity are such as to provide support for other local charities.
## **Activities**
The Trustees continually consider the ongoing position of the farm land, particularly in view of possible development.
## **Financial Review**
The Trustees were able to make distributions amounting to £40,000 during the year. At the end of the year there was a balance of surplus income amounting to £232,020 available to carry forward, which currently is largely under investment with Canaccord Genuity. Trustees aim to maintain reserves at a consistent level.
## **Trustees Responsibilities**
The Trustees are required under the Trust Deed to cause proper accounts to be kept of all monies received or expended on account of the trust fund and of the Assets and Liabilities thereof.
## **Approval**
This report was approved by the Trustees.
................................... Trustee
## **R N BUTTON**
Page 2
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024**
||
|
**2024**|**2023**|
|---|---|---|---|
|||**Unrestricted**|**Total**|
|||**fund**|**funds**|
|**General Purpose Fund**|Notes
|
**£**|**£**|
|
Investment income
|5
|
**5,762**|**5,580**|
|Other income|6
|
**180,862**|**12,676**|
|||
**______**|**______**|
|**Total**
|
|
**186,624**
|**18,256**|
|
**EXPENDITURE ON**|
|
||
|
Charitable activities|
7
|
**43,874**|**33,281**|
|
|
|
______|______|
|
**NET INCOME/(EXPENDITURE)**|
|
**142,750**|**(15,025)**|
|
**RECONCILIATION OF FUNDS**|
|
||
|
Total funds brought forward|
|
**89,270**|**104,295**|
||
|
______|______|
|**TOTAL FUNDS CARRIED FORWARD**|
|
**232,020**|**89,270**|
||
|
||
|||______|______|
|**CONTINUING OPERATIONS**|
|
||
|All income and expenditure has arisen from|
|
||
|continuing activities.||||
Page 3
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST BALANCE SHEET AT 5 APRIL 2024**
|**2024**
**£**
**Fixed Assets**
**Freehold Land (Registered)**
153.35 Acres at Home Farm Southam
At June 2015 Valuation
**Investments**
As Schedule (Page 5)
At Market Value
**Current Assets**
Cash at Bank
154,049
Debtors
8,535
______
162,584
**Current Liabilities**
Creditors: Amounts Falling Due Within One Year
1,609
______
**Net Current Assets**
**Trust Capital Fund**
Balance Forward
Realised Gains/(Losses) on investments
Unrealised Gains/(Losses) on Investments
**General Purpose Fund**– (Page 3)
|
**2023**
**£**
**£**
850,000
146,350
_______
996,350
5,431
20,222
______
25,653
2,133
______
160,975
______
1,157,325
_______
921,458
2,552
1,295
_______
925,305
232,020
_______
1,157,325|
**£**
850,000
137,208
_______
987,208
23,520
______
1,010,728
_______
936,784
6,080
(21,406)
_______
921,458
89,270
_______
1,010,728|
|---|---|---|
_______ _______
The financial statements on page 3 and 6 were approved by the Trustees and signed on their behalf by:
Trustee Trustee **R N Button R V Wiglesworth**
Date 26 June 2024
Page 4
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST INVESTMENTS HELD AS AT 5 APRIL 2024**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|2024|2023|
|Middle|Middle|
|Market|Market|
|Holding|Cost|Value|Value|Dividends|
|£|£|£|£|
|Henderson Smaller Cos Inv Trust|1,350|14,527|10,368|8,516|301|
|HICL Infrastructure PIC 0.0001|7,400|13,277|-|11,455|458|
|Mid Wynd Int Inv Trust|1,575|7,818|-|10,781|89|
|Worldwide Healthcare Trust|2,550|2,285|-|7,931|79|
|Henderson Diversified Income|10,500|10,143|-|7,130|404|
|JP Morgan Global Growth +|2,000|9,093|11,180|9,120|354|
|Income 25p|
|AXA US Short Dur High Yield ZI|8,000 6,704|6,718|- 237|
|JP Morgan Asia Growth + Income|3,800|15,025|13,186|14,078|585|
|T R Property Inv Trust|3,850|12,506|12,493|8,634|481|
|Fidelity European Trust Ords|3,500|10,028|13,720|11,778|276|
|City of London Investment 25p|3,500|14,910|14,158|14,472|707|
|Vontobel Fund Twenty-four Inc|115|10,383|10,663|9,985|585|
|-|-|
|Bellevue Healthcare Trust lp|6,600|10,188|10,296|
|Dunedin Income Growth inv. TST|4,600|14,937|12,788|13,178|630|
|25p|
|Guiness Global Equity Income Y|525|10,229|11,045|-|83|
|North America Income Tst 25p|3,625|10,558|10,621|10,150|410.|
|-|-|
|MI TwentyFour Focus Bond A|10,000|9,159|9,114|
|Gross|
|_____|_____|______|_____|
|181,770|146,350|137,208|5,679|
|______|______|______|_____|
**----- End of picture text -----**
Investments are listed and held primarily for investment return.
Page 5
**THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2024**
## **Accounting Policies**
## **Basis of preparing financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The accounting policies adopted in the preparation of the financial statements are noted below.
## 1.
## (a) **Funds**
The General Purpose Fund is unrestricted and is available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
The Trust Capital Fund represents those assets which must be permanently held by the Charity. Any capital gains or losses arising on the investments form part of the Fund. Income arising on the Fund can be used in accordance with the objects of the Charity and is included in the General Purpose Fund.
## (b) **Income**
Income is included when the Charity becomes legally entitled to the income, it is probable that the income will be received and the amount can be measured reliably.
## (c) **Expenses**
All expenditure is accounted for on an accruals basis.
## 2.
## **Trustees Remuneration**
See note 3 below. (2023: £nil).
## 3. **Related Party Transactions**
During the year the charity paid administration costs of £800 to J M P Vereker.
Page 6
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2024**
|4.
**Control**
The Charity is controlled by the Board of Trustees.
5.
**Investment Income**
Dividends per schedule
Page 5
Interest
6.
**Other Income**
Farm Rent Receivable
Wayleaves
Promotion Agreement
7.
**Charitable Activities**
Note
Charitable Distributions
8
Governance Costs
9
Other Costs
10
8.
**Charitable Distributions**
Tiny Tim’s Children’s Centre
Warwickshire & Northants Air Ambulance
Sense
Armonico
Dogs for Good
Safeline
New Chapters
Warwickshire Young Carers
Young People First
Spinal Muscular Atrophy UK
Shine Light (Cancer)
Shine Charity
Kissing it Better
Warwick & Kenilworth Choral Society
Lord Leycester Hospital
The Compton Verney House Charity
The Myton Hospices|**2024**
**£**
5,679
83
5,762
5,686
176
175,000
180,862
40,000
1,859
2,015
43,874
1,000
1,000
2,000
2,000
1,000
1,000
1,000
2,000
2,000
-
2,000
2,000
2,000
1,000
2,000
2,000
5,000|**2023**
**£**
5,558
22|
|---|---|---|
|||5,580|
|||12,500
176
-|
|||12,676|
|||29,000
1,808
2,473|
|||33,281|
|||1,000
1,000
2,000
-
1,000
1,000
-
-
-
1,000
-
-
-
-
-
-
-|
Page 7
## **THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2024**
|Rufus Friends Fund
Love Lillington
Warwickshire Vision Support
Insight, Counselling
Refuge
TLC Foundation
Teenage Cancer Trust
Dogs Trust
Riding for Disabled
Life Space
Zoes Place
Cruse Bereavement
Hand in Hand
Mary Ann Evans Hospice
Salvation Army
Guys Gift
Helping Hands
Macular Society
Shakespeare Hospice
Acorns Childrens Hospice
**Governance Costs**
**9.**
Examiners Fees
Admin/Meeting Fees
**Other Costs**
**10.**
Rent Collection and Other
Property Fees
Insurance|**2024**
**£**
2,000
-
1,000
2,000
-
1,000
2,000
-
-
-
-
-
-
-
-
1,000
-
-
-
2,000
40,000
1,059
800
1,859
512
1,503
2,015|**2023**
**£**
1,000
2,000
-
1,000
1,000
-
-
1,000
1,000
1,000
1,000
1,000
5,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000|
|---|---|---|
|||29,000|
|||1,008
800|
|||1,808|
|||1,125
1,348|
|||2,473|
Page 8
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE EDITH AND JACK GRIFFITHS CHARITABLE TRUST**
I report on the accounts of the charity for the year ended 5 April 2024 which are set out on pages 3 to 6.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act, and:
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
.................................................................
## **IAIN GODDARD, FCA, CTA**
Harrison Beale & Owen Ltd Chartered Accountants Highdown House 11 Highdown Road Leamington Spa, CV31 1XT
## Date 26 June 2024
Page 9