REGISTERED cHARy NUMBER: 517657 rnsteu and naudit Fina tements nded S 202 rlt West. Chartered Accountants Suite K Priest Hou5¢ 1624 High Street Knowle Solihull West Midlands B93 OJU
Wilcox Charttles Contsnts of the for the Year End "nancial Statemen thA ril 2024 Page Report of the Trustees Statement of Trusteesl Re5ponsibSllties Independent Examiner's Report Statement of FfinaDcial Activlties Balance Sheet Notes to the Financlal Ststements
Wllcox Charities o( the Truslees for the Year Ended 5th A il 2024 Th¢ Tn1¢¢$ present their report and the financial statements for the year ended 5 April 2024 E G Wilcox Charities is an umbrella charity. registration number 517657, linking its subsidiary Charities The E G Wilcox Charitsbl¢ Trust and The Clov¢lly Charitsble TnL OBJECTIVES AND ACTIVITIES ObJective5 and aims E G Wilcox Charitable Tnt The Tnl have refred to the guidance contained in the Charity Cornmissions general guidance on public benefit when reviewing the charities aims and objectives and in planning fvture activities. kn particular. the Trustees have constdered how planned activities will contribute to the main aims and objectives seL Th¢ TNstees hold the T1 Fund to apply th¢ income thereof as to three quarters to Solihull School. such income to be used by the School for the purpose of the improvement and maintenance of the School playing fields and as to one quarter to Ihe I st Solihull GTOUP of Boy S¢outs for the purpose of improvement and maintenance of their headquarters and grounds. The Trust Deed provides that in the ev¢nt of the 1st Solihull Group of Boy Scouts ceasing lo exis( one quarter of the Trust'5 income will be paid lo the L()cal Association of Boy Scouts in the County Borough of Solihull for the benefit of any group atTiliated to such Loal Association as th¢ Tntstees in their absolute discretion select. Clovelly Charitable Trust The Trustees hold the capital of the Tnt and the income thereof upon Inist in their discretion to pay or apply the same or any part of parts thereof to or for the benefit of all or any of th¢ pupils of the Sixth Fonn of Solihull School and generally whether by way of annuitie8 free places. grant4 scholarships. bursarie& reseaKh, books, trdveL explorations or any further education or study as the Tnist¢es shall from lime to time in their absolute discretion determine. ACHIEVEMENT AND PERFORMANCE Chgrltsble activitie5 E G Wilcox Charitable TTht Net income attributable to Solihull School amounted to £12,359 and net income attUtabI¢ to 1st Solihull Group of Boy Scouts amounted to £4,120. Of this £12.000 was alloGated to the School and £4.000 was allocaled to the Scouts. The difference of £479 was added to undistributed income brought fonvard. The bajanrx of undistributed income at th¢ year end was £47.314 of which £38271 is attributabk to the School and £9.043 to the Swuts. Clovelly Charitable Trust During the year the Tn approved an allocation of funds to Solihull Sthool of £22.000. This covered departmental awards and scholarships. The TnteeS are satisfied that the Balance SIet at 5 April 2024 discloses fuDds adequate to fulfil the obligations of both Charities.
G Wilco rt of the Trustees for the Yesr Ended 5th A il 2024 FINANCIAL REVIEW Investment policy and objectives There are no restrictions on the Charities. powers to invesL The TneeS are advised in investment matters by the Chorities, invesknent managers, Canaccord Genuity Wealth Management. The Tntees, objectives are: - The creation of a suftTicient financial return to enable the Charities kn carry Out the purposes effectively and without intemipiion: - The maintenance and enhancement of the investment fill)ds in real tern whilst they are invested" - To obtain a reasonable balan¢¢ between capital gro and income so that the Charities can meet future as as Current needs; and - To avoid investments that are unduly risky. The funds may be invested in any type of inveslment. The Tnistees, policy is to invest in an appropriate mix of assets in¢luding equities, fixed interest stocks and monetary assets. The Trustees believe that this will provide the required level of relurn together with real growth in the mediwn to long term and enable the Charities to Continue to achieve their objectives. No so¢iaL environmentsl or ethiul considerations are tsken into ac¢ounL well Reserves policy E G Wilcox Charitable Tnt The TnleeS do not hold unrestricted reserves. In accordanrx with the Trust Deed net annual income is allocated to Solihull School and 1st Solihull Group of Boy Scouts. A balan¢e of undistributed income may. however, be held temporarily on behalf of either benefi¢iary at the fmancial year end. Clovelly Charity Trust It is the policy of the Trustees to maintain unrestricted fund& which are the free reserves of the charity, at a level which equales to at least six months, Inrne. This provides sufficient fimds to cover management and administration costs and to safeguard against falling income and interest l¢vels. Unre5tri¢ted funds are ¢urrently above this kv¢l and are being accwnulated as the Tn are plamiing to &ssist the SclM)ol with funding for future capitsi proje¢ts. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The E G Wilcox Charitable Trust was ¢r¢ated on 28 April 1964 by Ernest Gordon Wilcox and is unincorpordted. The Clovelly Charitable Int was created on 2 April 1986 by Ernest Gordon Wilcox and is unincorporated. Under a uniting direction of the Charity Commissioners dated l July 2004 the E G Wilu)x Charitable Tn¢ and the Clovelly Charitable Tntst are to be treated as a single charity for the purposes of Part II (registration) and Part Vl (accounting) of the harities Act 1993. This does not ¢onstilUte an amalgamation of the Charitie4 which remain separate and legally distinct. All malters of policy and management are deterniined by the Trustees who meet at such times as circumstances require. Recruitment and appoiDtment of Dew trustttg The appointment of new Trnstees vests with the existing Trustees. At suth time as new Trustees might be appointed they would be given adequate InfomtiOn to enable them to understand the Charities, aints and objectives and their responsibilities as Tntees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 517657 Prlncipal address The Post House Barston Lan¢ Barston Solihull B92 OJU Page 2
G Wilcox Arltl rtoftheT or the Year Ended 5th A Trustees Simon Gordon Wilcox David John Comey Richard Gordon Wilcox Adam David Corney Independent Examiner Susan W¢st West- Chartered Accountants Suite K. Priest House 1624 High Street Knowle Solihull West Midland5 B93 OJU Investment Managers Canaccord Genuity Wealth Manag¢ment Saggar House Princes Drive Worcester WRI 2PG Approved by order of the board of truste¢s on .......... . and signed on its behalf by. Simon Gordon Wilcox - Truste¢ Page 3
E G Wileo Cha t#tem¢nt of Truste fort e Year Ended 5t The trustees are responsible for preparing the Report of the Tnistees and the financial Statements in COrdanCe with applicable law and United Kingdom Accounting Standards (United Kingdom G¢nerally Accepted Accounting Practice). onsibillti ril 2024 The law applicable to charities in England and Wales, the Charitles Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare fmancial slatements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources. in¢luding the income and expenditure, of the ¢harity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prud¢nt; prepare the financial statements on the going concern basis unless it is inappropriate to presume that th¢ charity will continue in business. The trustees are responsible for keeping proper accounting record3 which disclose with reasonable accurdcy at any tim¢ the fwancial position of the charity and to enable them to ensure that the financial statements comply with th¢ Charities Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding ihe assets of the charity and hen¢¢ for taking reasonable steps for the prevention and dete¢tion of fraud and other irregularities. Pag¢ 4
endent Exgmln E G Wlleox Charl stees of Independent examiner's report to the trustees of E G Wil¢ox Charities I report to the ¢harity trusttts on my examination of the accounts of E G Wilcox Charities (the Trust) for the year ended 5th April 2024. Responsibilities and basis of report As the charity Irustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Aa 2011 (Ihe Ad). I report in respect of my examination of the Tnl'S a¢¢JDts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Dir¢¢tions given by the Charity Commission under Section 145(5Xb) of th¢ Act. Independent ¢XPdminer's statement have completed my examination. I confjrni that no material matters have come to my attention in com)ection with the examination giving me cause to believe that in any material accounting records wer¢ noi kept in respect of the Twst as required by Section 130 of the A¢¢ or the accounts do not accord with those records: or the a¢¢ounts do not comply with the applicable requirements ¢onceTning th¢ forn] and ¢ontent of accounts Set out in the ChaTities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a lJue 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 comiection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the ac¢ounts to be reached. Susan West West. Chartered Accountants Suite K, Priest House 1624 High Street Knowle Solihull W¢st Midlands B93 OJU Date: .... Page 5
E G Wllcox Charltles ststement of Finatsdal Artfvities f•r the yegr ended 5 April 2024 E G Wilcox ChAritsble Trnst 2024 Total 2023 Totsl Income Caph•l Income and ¢xpenditure Incomlng resources Inv¢stment incom¢ Dividends Deposit int¢Test 21.454 657 21.454 657 21.964 143 Total inming resouree5 21111 Resources ¢xpended Charitabl¢ activities Grants: Solihull School 1st Solihull Gmup of Boy Scouls 12.000 12,000 13.000 5.000 16.000 16,000 18,1100 Govern9nte costs Investment manager costs Independ¢nt examination 4,9&2 650 4,982 650 3.649 650 Totsl resourte5 eypended 22.299 Net in¢fjmlng r¢sources before tropsf¢rs 479 479 Gross iransf¢rs between fun NeA incorning reSou¢S for th¢ year after transfer5 479 479 -192 Other recognis¢d gAiM •nd losses GAinsl(losse5) o# investments Realised Unrealised -8.866 40.813 4,866 40.813 6.913 -52,320 31,947 31.947 45.407 N¢t movement in funds 479 31,947 31426 45,599 Balances brought forward at 6 April 2023 4&835 497299 544.134 589.733 Balances ¢*rried forward at 5 April 2024 47.314 529 246 576 560 All incoming resources and resourtts cxpendcd aTe derived from coniinuin8 activitis There are no other gains and losses other ilwi those reco8nised ab)ve •nd Kcoydingly no s¢pAe Stalcment of total re¢ognised gains and losses h¥s bccn prepared Thc notes on pages 9 10 1 I forn part of these financia151atemtht& Page 6
E G Wlleox Chgritles StAt¢ment ofFlnandg1 A¢dvities for tht yeAr ended 5 April 2024 cltIlY Chrltabl¢ Trus¢ 2024 Tot#1 2023 Tot81 Intomt CpltAI Income and expeDdlture InfomiDg resour¢ IDvesttt)¢nt Dividends Deposil illteresi 32.339 1.134 32,339 .134 32.231 219 To¢81 Ineomlng resoureej 32.450 Re8ftrufttg ¢xpend¢d Charltsble ActivStrs Grants- Solihull Sohool 000 22,000 20.000 Cov¢rnan¢¢ eosls Inve51m¢ni manager cos15 Ind¢penden¢ ¢xamination 7.647 650 7.647 650 3J94 650 TotAI r¢iources ¢xpend¢d 30 97 26.044 Net Incoming resour¢es befort trgDsfeTS 3.176 3.176 6.406 Nei iocorning resowcgs for the year after trAnsf$ 3.176 3.176 6.406 Oth¢r retogDtsed ylnsl{105s¢s) GAin(lI155s) on Invegtm¢Dts Rejlised Unreili8¢d 8.743 54,161 .743 54.161 6.004 -32,935 .26.931 Ne¢ movement In fund$ 3,176 62.904 66.080 -20525 Balances brought fonvard at 6 April 2023 Blau¢e5 ¢arrfed forward al 5 April 2024 142,263 681.505 823.768 844.293 145 439 744 409 823 768 All incomin8 resour¢es and resour¢es ¢xpend¢d are d1V¢d fTOm Co1]ng a¢livities. There ar¢ no oth¢r gains ond10sscs otherthan those recognis¢d above and acrordinEly separats ststeml of ¢otal recognised gains and losses ha8 been prepared Th¢ noies paw 9 to I I forn part of these fuwicial statements. Pa8¢ 7
E G Wileox Chrltks Balance Shetl •¢ S April 2024 Nolej 2024 2023 Flxed assets Inv¢stments at market value Uninvesid cash 1.412J50 lJ36,523 1,412.350 1336,523 Current assets Bank balances Funds held by stoekbTokers Dividends in transit 85J58 62.679 85.358 62,679 LIAblllti Amounts falling due within l year -31 -31,300 N¢t eurrent assets 54,058 31.379 Total Assets 1466 408 1367 902 Funds C#pltal E G Wllcox Charftible Trn$t Pemian¢nt Endowmenl Clovelly Charlllble Trust Expendable Endowment 529246 497,299 681505 1273.655 1.178,804 Undlslrlbuted Income E G Wllcox Ch4rilbl¢ Trust Clovelly CbArllgble Trust 47J14 145 439 46,835 142263 192.753 189.098 1466 408 1367,902 The notes on pages 9 to l I forni part of these fInCIal stalements. The financial statements were approved by the Tntstees on 2024 S G WilX D J Corney Page 8
E G Wlleox Charltles Noles to the Ilnan¢l#l statements for the year ended 5 April 2024 Ac¢ountlng pollcl Basls of preparing the Ilnanclal statements The financial slalemenls of the charity, which is a public bcnefit entity under FRS 102 have been prcpared in COrdan with the Charities SORP (FRS 102) 'Accountlng and RertIng by Charities: Statement of Rccomm¢nded Practice applicable to charities preparin8 their accounts In a¢eordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Rewrting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The finan¢ial statements have been prepared under ihe historical cost conventlon with the ¢xception of investments which are included at market value. Ineomlng Resour¢ All incomin8 resour are included on Ihe Statement of Financial Activities when thc charities are legally entitled to ihe in¢ome and the amount can be quantified with re8son4ble 8ecurncy Cranls Grnnts are accounled for in the year in whi¢h they ore allocated rather than the year in whi¢h they Are pald Expens Expenses ar¢ accounted for in the year to which they relate Governance costs comprlse all costs involvln8 the public accounthbilliy ofthe ¢hariti¢s and their compllance wilh regulation and gwd pra¢tice. Expenditure includes ony VAT which cannoi be recovcre4 whleh is reported as part of the expenditure to whlch it relalcs. Realised and unrealised investment 8ains and losses are accounted for through th¢ capital fund. Llsted Inv¢stments Listed investments are 51aled at market value less any provision for a pemianmt diminution in valu¢ since the balance sheet date. Tixa¢lon Thc Charities have been accepied as Charitsble by HM Revenue & Cus¢oms and as such are exempt from Incom¢ and Capital Gains Tax wovided their income and 84ins are appll¢d for chorilable purposes. Trn$teu' ftmun¢ratlon ond eipenses No remunernlion or expens¢s were paid or payable in respect of the year out of the funds of the Charitie5 eilher directly or indirectly to any Trustee or to any person or persons known to be nneded with them. Employees There were no full or part-lirne employees during the year Page 9
E G Wilcox Charitiei Note5 to the fmontlAI st8tem¢nts for th¢ yar ¢nded 5 Aprll 2014 Invutments E G Wllcox Charity Clovelly Charlty Tot1 Co$t of investments Ilsted on a rttwis¢d Siock Ex¢hange At 6 April 2023 Additions Dispos8]s 443,507 57J21 -72.081 692.506 106.904 -111291 1.136,013 164,225 -183 372 At 5 April 2024 428.747 688.119 1,116.866 Market valie idJus¢men¢ At 6 ApTiI 2023 Adjustsnent for the ye8r 85.619 40.813 114,891 200.510 94,974 At 5 April 2023 12A432 169,052 295.484 Market value At 5 April 2024 555,179 857 171 1.412J50 At 5 April 2023 529.126 807J97 .336.523 Investments at UTket Val Ll)mprised: Fixed inlcKst Equiiies 83J91 471.588 116.521 740.650 200,112 1212 238 555.179 857.171 1.412J50 All invatment 855ets were held within the UK. The following Ib)Idings at 5% of tho value of the individual Charitys inv¢5th #t 5 Awil 2024 Market value Nomin#l E G Wiltox Th*ritablt Trnsl Avon Prole¢tiOA Ord £1 Experian Ord 10 cents JP Morgan Ord 5p Shell Plc.07 euro 5.89 9.16 9.15 6.51 3,000 iJoo 9,150 IJOD 9,221 8,708 2&833 21.847 32.700 50.850 50.783 36,134 aovelty Charitsbk Trort North american income ts¢ Ord 25p JP Mor8an Ord 5p Sheil PIC .07 euro CRH ord .32 ¢uro 5.06 8.19 6.14 7.13 15.IM) 11650 1.894 850 20.601 39.836 21.011 20J65 43.350 70.208 52.644 57,545 Pagc io
E G Wll¢oI Chrldu Note5 t• the fizwD¢i•I stslemeuts for the y¢•reDded S Aprfl 21n4 2024 Llmbllltks: ¥ffj•untlng f•lllD8 due wlthln tsoe year Allo¢10$ io Solihwll School ]# Solihull Group of Boy S¢tL8 Wesl- Chartewed Awounwits 25.000 31 Analy$is ofasstts betwttn C#ph*l Uodlstribu¢¢d la¢onbe E G Wlleox CV E G Wlleox Totsl Li#ed invesiments Fun& held by ckbrok5 529246 744.409 25,933 31031 112,762 53J27 1.412.350 85J58 529246 744.409 57964 166.089 ,497.708 L¢s5 Current liobilities -10.650 529 46 47 14 145 439 1466.408