**REGISTERED CHARITY NUMBER: 523147**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
**FOR THE SETH SOMERS TRUST**
Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
**THE SETH SOMERS TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|11|
|**Detailed Statement of Financial Activities**||12||
## **THE SETH SOMERS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
All our charitable activities focus on the objects below and are undertaken to further our charitable purposes for the public benefit.
The objective of the Trust was to continue to make charitable grants and maintain the grounds of the Seth Somer Park.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The trustees endeavour and continued to encourage and promote the objectives of the charity. The trustees have continued to maintain and develop the Seth Somers Park.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The total incoming resources and resources expended for the year are shown in the Statement of Financial Activities on page 4. The total incoming resources amounted to £31,243 and the total resources expended amounted to £33,834.
Reserves stand at £952,612 in total consisting of £849,989 endowment funds, and £102,623 unrestricted funds.
Details of investment assets are shown in note 8. The value of investments of the charity at 31 March 2025 amounted to £899,472 compared to a figure of £941,374 at 31 March 2024.
Investment performance is reviewed by the trustees following the receipt of the stockbrokers report. The trustees' objectives are to ensure that the income of the Trust is maintained whilst ensuring continued capital growth.
There were grants paid during the year amounting to £15,263.
## **Reserves policy**
The trustees have established the level of reserves that they consider the charity ought to have. Reserves are required to provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice. The charity supports individuals and organisations which are dependent upon continued support.The trustees are concerned that Government and Local Authority funding is diminishing.
The trustees have identified and are concerned that considerable expenditure will be required in respect of the maintenance of the Seth Somers Park.
The trustees consider it prudent that the amount of Reserves should be sufficient to cover future support costs for a period of at least six months and the maintenance and the regeneration of the Seth Somers Park and therefore provide a Reserve of £36,000 under this policy. The actual balance of the Reserves at 31 March 2025 is £102,623.
## **FUTURE PLANS**
The Trustees continue with extensive maintenance projects in respect of the regeneration of the Seth Somers Park.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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**THE SETH SOMERS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The charity is constituted by Trust Deed and is a registered charity.
Seven trustees are listed . The trustees employ a Trust Secretary who deals with day to day management issues.
The trustees meet every six months or more frequently as circumstances or needs require.
All the trustees serving during the year are listed on the legal and administrative information page.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
523147
## **Principal address**
2 Meadow View Earls Ditton Lane Hopton Wafers Kidderminster Worcestershire DN14 0NE
## **Trustees**
Mr D L Eades Mr R G Green Mrs M E James Chairman Mr M B Davenport Mr A Mabe Mrs G Hulme Mr W J Street Mr D Carey (appointed 14/5/2024)
## **Independent Examiner**
Mr R A Smallwood FCCA Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
## **Solicitors**
Talbots Law Remlane House, 25/27 Hagley Road. Stourbridge, West Midlands. DY8 1QH.
Approved by order of the board of trustees on 25 November 2025 and signed on its behalf by:
Mrs M E James - Trustee
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## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SETH SOMERS TRUST**
## **Independent examiner's report to the trustees of The Seth Somers Trust**
I report to the charity trustees on my examination of the accounts of The Seth Somers Trust (the Trust) for the year ended 31 March 2025.
## **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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr R A Smallwood FCCA
Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
25 November 2025
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## **THE SETH SOMERS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|Unrestricted
Endowment
fund
fund
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
53
-
Investment income
2
31,190
-
**Total**
31,243
-
**EXPENDITURE ON**
**Charitable activities**
3
Grants to individuals & institutions
15,263
-
Grounds maintenance
18,571
-
**Total**
33,834
-
Net gains/(losses) on investments
-
(41,902)
**NET INCOME/(EXPENDITURE)**
(2,591)
(41,902)
**RECONCILIATION OF FUNDS**
Total funds brought forward
105,214
891,891
**TOTAL FUNDS CARRIED FORWARD**
102,623
849,989|2025
Total
funds
£
53
31,190
31,243
15,263
18,571
33,834
(41,902)
(44,493)
997,105
952,612|2024
Total
funds
£
-
30,389|
|---|---|---|
|||30,389|
|||13,237
4,543|
|||17,780|
|||81,168|
|||93,777
903,328|
|||997,105|
The notes form part of these financial statements
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## **THE SETH SOMERS TRUST**
## **BALANCE SHEET 31 MARCH 2025**
|Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
fund
£
49,483
53,592
(452)
53,140
102,623
102,623|Endowment
fund
£
849,989
-
-
-
849,989
849,989|2025
Total
funds
£
899,472
53,592
(452)
53,140
952,612
952,612
102,623
849,989
952,612|2024
Total
funds
£
941,374
56,925
(1,194)
55,731
997,105
997,105
105,214
891,891
997,105|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 November 2025 and were signed on its behalf by:
Mrs M E James - Trustee
The notes form part of these financial statements
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**THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the 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 2019)', 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 Seth Somers Trust is a public benefit entity in England / Wales. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are page 1 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016) , the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
[The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.]
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that 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 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 consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
continued...
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## **THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|Dividends
Bank interest
Rent and wayleaves|2025
£
26,142
2,098
2,950
31,190|2024
£
25,632
1,807
2,950|
|---|---|---|
|||30,389|
## **3. CHARITABLE ACTIVITIES COSTS**
|Grant
funding of
activities
Direct
(see note
Costs
4)
£
£
Grants to individuals & institutions
-
15,263
Grounds maintenance
13,812
-
13,812
15,263
**GRANTS PAYABLE**
Grants to individuals & institutions
The total grants paid to institutions during the year was as follows:
Grants|Support
costs
£
-
4,759
4,759
2025
£
15,263
2025
£
15,263|Totals
£
15,263
18,571|
|---|---|---|
|||33,834|
|||2024
£
13,237|
|||2024
£
13,237|
## **4. GRANTS PAYABLE**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
Trustee indemnity insurance paid by the trust in the year totalled £166 (2024 - £208).
continued...
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## **THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Employees
No employees received emoluments in excess of £60,000.
**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Investment income
30,389
**EXPENDITURE ON**
**Charitable activities**
Grants to individuals & institutions
13,237
Grounds maintenance
4,543
**Total**
17,780
Net gains on investments
-
**NET INCOME**
12,609
**RECONCILIATION OF FUNDS**
Total funds brought forward
92,605
**TOTAL FUNDS CARRIED FORWARD**
105,214
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2024
Revaluations
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
There were no investment assets outside the UK.|2025
2024
2
2
Endowment
Total
fund
funds
£
£
-
30,389
-
13,237
-
4,543
-
17,780
81,168
81,168
81,168
93,777
810,723
903,328
891,891
997,105
Listed
investments
£
941,374
(41,902)
899,472
899,472
941,374|
|---|---|
continued...
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## **THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **8. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 31 March 2025 is represented by:
|Valuation in 2025
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1/4/24
£
**Unrestricted funds**
General fund
105,214
**Endowment funds**
Endownment Fund
891,891
**TOTAL FUNDS**
997,105
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
31,243
(33,834)
**Endowment funds**
Endownment Fund
-
-
**TOTAL FUNDS**
31,243
(33,834)|Listed
investments
£
899,472
2025
2024
£
£
452
-
-
1,194
452
1,194
Net
movement
At
in funds
31/3/25
£
£
(2,591)
102,623
(41,902)
849,989
(44,493)
952,612
Gains and
Movement
losses
in funds
£
£
-
(2,591)
(41,902)
(41,902)
(41,902)
(44,493)|
|---|---|
continued...
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## **THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1/4/23
£
**Unrestricted funds**
General fund
92,605
**Endowment funds**
Endownment Fund
810,723
**TOTAL FUNDS**
903,328
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
30,389
(17,780)
**Endowment funds**
Endownment Fund
-
-
**TOTAL FUNDS**
30,389
(17,780)|Net
movement
At
in funds
31/3/24
£
£
12,609
105,214
81,168
891,891
93,777
997,105
Gains and
Movement
losses
in funds
£
£
-
12,609
81,168
81,168
81,168
93,777|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Endowment funds**
Endownment Fund
**TOTAL FUNDS**|At 1/4/23
£
92,605
810,723
903,328|Net
movement
in funds
£
10,018
39,266
49,284|At
31/3/25
£
102,623
849,989|
|---|---|---|---|
||||952,612|
continued...
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## **THE SETH SOMERS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|61,632|(51,614)|-|10,018|
|**Endowment funds**|||||
|Endownment Fund|-|-|39,266|39,266|
|**TOTAL FUNDS**|61,632|(51,614)|39,266|49,284|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
## **12. FUNDS**
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
The endowment fund represents those assets which shall, at the discretion of the trustees, be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
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## **THE SETH SOMERS TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Dividends
Bank interest
Rent and wayleaves
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grounds maintenance
Grants to institutions
**Support costs**
**Governance costs**
Accountancy and legal fees
Other administrative costs
Total resources expended
**Net (expenditure)/income before gains**
**and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net (expenditure)/income**|2025
£
53
26,142
2,098
2,950
31,190
31,243
13,812
15,263
29,075
1,200
3,559
4,759
33,834
(2,591)
(41,902)
(44,493)|2024
£
-
25,632
1,807
2,950|
|---|---|---|
|||30,389|
|||30,389
609
13,237|
|||13,846
420
3,514|
|||3,934|
|||17,780|
|||12,609
81,168|
|||93,777|
This page does not form part of the statutory financial statements
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