Chirlty wlstradon number 628745 IEngland and Wale$l THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICKAPPRENTICING CHARITY) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Legal And Administrative Informatlon ExA)ffi¢io Trustee Re¥e18nd J Heam R•veiend D ThorTV5on (Resigned May 20241 Rfrveiend CanonAAagaard IAppoin¢ed May 2024} Nomlnatlv• TntS Cllr E Harrison CKr S Parget CNr J Slan Colloptstiv• Tru8ts98 Mr T Brown- Chairman Mr S Moiloy Mr N Thurfèy Mrs P M Fawcott Mr J Vedy Mrs M Grainger Crity nurnlRr 528745 Prlndpal addro¥5 CIO Moorè & Tibbts 34 High Slrg91 Waick wakshI¥e CV34 4BE Clèrk to the Charity r C E R Houghton dependenteximlneys 8urgis & Bullock 23-23 Walertoo Place Leamington Spa CV32 SLA B*nk•rs Lklyds TSB Bank pic 10-12 Swan Street ick GV34 4BT Solkltorn Moofv & llbl4t$ 34 High Str8•t War4¥id( CV34 4BE Inve$tm•nt afvi$or5 Browin Dolphin s¢rities Limited dsto¢k Court BnheIrn Ro&J Marfborough Willshire SN8 4AN
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITYI Contents Page Truste88' roP¢)rt Inendent examlnefs report Statement 0ffinanc481athIs BaLan¢¢ shoet 12 )le8 to the finanual statements 13-22
THE APPRENTICING AND RELIEF IN NEED CHARITIES {KNOWN AS WARWICK APPRENTICING CHARITY} Trustees, Report For the year ended 31 Decembgr 2024 Thp In¢•85 wosanttheir report and finandal statements for tho year ended 31 De¢¢fflr Z024. The fincial statamènts have been prepared in attordance wlth the actounting poli¢Oo5 set out in note 1 to th fln?ncial statements and compty with Ihe charity's govèrning document, Ihe Charities Ad 2011 and 'AoUnting and Rèporting by Charilles.. sfalement of Rornmened Pracuca apWrAble to charities weparing their accounts In accordance with the Faal RtFQrtiThJ sIard apF4icable in tho UK and Repub]ic ot Iroland {FRS 1021 leffect+ 1 January 20191" OWthe and octivitl•s The charity assist3 persons resldanl in the town of under the ago of 25 year8 wtho are preparing for. entgring upon or engagad in any Occupatn, by prowding them wilh outfits, lools or tKsoks, or payment ol fees. tr#velling or maintonanee expenses or by such olher means for Iheir adVannt in lrfe to enable them to e8m their own h"wing. The charily a159 promdes rellef lor persons either genwalty initiv#dualty who lexwl in 3pedal ¢ase8 to be approved by the Trusle6s1 arè resident in the town of and wh9 are in a stale of neod. hwdshlp or distres$. Publit Benefft The Trustees have pald due regard to guidan issued by thè Charity CoMmissn in deryding what aclFvities the charity should uTr)dortth in order to fvtffl thls r8qui1gment. Ellglble memb¢rs ol the public are ablt to apply for a9815tance from the Charity and the Trustees believe Ihat by making grants available lo them they are provldirvJ lrfe improving bèneffts lo the publc. Procedures and polltyfor 9rnnt maklng In accordance with the Trust Oeed the Ifu¥tees appty the income of ¢he charity as folbxs.. For Ihe "advancemènl of Itfe., that Is assisting persons re&dent in th8 town of wan£ (undér 25 years of age) who ar8 preparing for, enlerin9 upon, or engaged In any PTofes6ion, tradè, ocojpab'on or SO¢8 by prow¢Jlno Ihem wrth ouffits, looL8 or books. or by payments ol feès, travelling or maintsnanc expgnses or by sud) 0th9r ffleans for their advancernent in lrfe to enabk8 Ihem lo eam thèlr (w4n livin9 as the Trustees see fft. For the "rèlvaf in need.. thal Is, rerj either generaty or indNJu8lly PErsons resHlent in tho town of Wa1Ck who are in condltions of need. hardship tsr dtresS by makn.llg granls of money 01 prowding or paying for it•ms. $e[w5 u fadlftlo$ ¢aloJlaled to red the need, hardship or dS#tres8 of SUL persons. In éxwtional cases the trustees may grant 19lief to persons cthemise eligib who are iestdènt ¢utside the town of Wèrwick, bul who in the trustses opinion ought to be treated as rf they were resident or who are temporardy located in Watwid(. AppTh¢ations for grants 01 as$i$tance 5houkl be made kn wthrvJ tu the Chrk. AppllLxlion$ are reviewed at the Trust8es' ordinary meeb"ngs. Achlevemonts and pprfonnance During Ihe year the ¢haiity approved 49 adwdrKernent in kfe awarls to indtwduals totalllng £50,15312023.' 49- totalling £47,9071. Financial revtew General and designal•rl funds at Ihè yagr ènd ¥lorxl at £219,840 (225.. £177,619 ). Permanent endowmèffj fvnds slo¢Jd at £979,83412023." £961,332). No festficted furd5 balances were hekl at the Balance Shéet dale. The Trustees CnSler that free liquid funds should be maintained al a bvel whic Cover the annual administrati of the charfty and apWOThalefy halfthe annual grant payments made by the d)aiity. las Ihe TrLtst8ès meet bpannually to ajlocale gt payments). Investment policy Thè TrustÈeA have constdered the most appropriate pow lor iivesting lunds and in CA)nlvndion the Funds policy adopted to mainlain net current assets at around £40,(hJO. The barth of Ihe chty.$ fvnds ha$ bn invest6d In snve8knents as adw6ed by the ctharivs L¥okers.
THE APPRENTICING AND RELIEF IN NEED CHARITIES {KNOWN AS WARWICK APPRENTICING CHARITY) Trustoes. Reporl {Continued) For the year endod 31 December 2024 Rl$k TgvSew The charity's TNslees have Considered the rnajor ri$k6 to wFNch th& charity is exposed and have mtewed the$e risks and eslablished SleMS and procedures to manage these risk8. External risks h8ve been minimised by Ènsuring that the charity's properties are adequalety maintained and appropriately insured, The Tru51ees have also deslgnated a ftjnd tr cover émèrgèncy rapairs and potential wid cost could èrise as a resuft ol k)sing ttrnants frorn thelr hvestsnent wopeTbes. The charity employs the $OFVi$ of a broker to manage its inve$trllenl portfo170. Internal risks are minlmised by ImpmentIng procedures frtr avthoii$ing tr8ns8rAions. The Trustees are mrndful Ihat thèir abllity to maintain the current level of grant$ Is mLKh depdent on the support provKlgd by other local charities %vhicfi have shown thèir wish tr> assist the objectives of the cherity. The economic situat h8$ PJt prèssure on the vaJe of the charitys investrnerts albeit th8t the Trustees remain assur that they currently hold a healihy Ve1 ol a¥sets which thgy Cgntifiue to monitor and gNe considera1? to when making deryons on grant applicgbons. Stru¢bJre. goVernae and rnanJ9ernènt The charrty is an inCorpOrated TnJ5t constituted under a dated 281h November 1930 as r¢vlsod in Odob8r 1981. Thè TnJst88 Board rrAy comprise 12 Peop beSn9 3 •x-officio Intstees. 3 nominated trustees and 6 cNptatlve Trustees. Nominabve trust9¥9 8r8 appointed by the Town Council ol WaMid( and serve 1(¥r 4 years. Cwptative Irustees ar8 porsons who through re5iderwt, occupatlon or ernOyment or otherlyise have spedal knowledge 01[wk. Sui Truste•$ hold office for 5 years. Trust8•s are teq¢Jired to hokl al le8$1 tsvo ordinary mg8ting5 a yw, the Trustees mel on tsvo ottasions during the year to approve the 811oeAtlon of grants and reeW the fundlng d lh¢ diarlty. The Trustèes keep Ihe skna requirements of tho tru8iee body under re¥itew in the ewnt that a new Truslee is qUiTed or an e5n9 Tru$lee fetiwEs. Vkhere a vacan¢y t¢oJts for a new CfroptatNe Trustee. it is dts¢u$sed by the Trustees at a meeting and nominations are invited. If mor8 than one noml3110n is reIved, sh ncffiinations ar¢ voted up¢)n. Trustees are nomirFated having ward to theif knovledge. suitability ar availability to $onTr. Th1 in(bJctlon process for a new Truslee5 is a follDW5. Thè Chaifflian w?11 rneel with the new Trustea to explain all aspecls of the Chaiity and to proVe all relevant inforniabon regarding i(. The Clwk lo the Trustees wim wrttt to the new Trustee witti a copy ol ihe 5thgme gov8rning the Charity and a copy of the lasl 591 of xwunts. The Chaim70n and the Clerk to the Trustees will also prowdt all assistAnce and infomialton necessary for the n•w TrLL8tees to become fam11 ith the workSng$ of the Charfly and c*ariiabEe wegulatwJn6 app.bIg. stegs. reportw8$ approwd by the Board ofTruslee& arrman)
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS wARCK APPRENTICING CHARITY) Independent Examlnerfs Report To the trustees of the apprenticlng and relief in need Gharilies l pOrt lo the trustees on my examinalitin of the ffnanual statemonts of Thg Apprentfin9 and Rel in Neefj Charlll¢s (tho ¢harityl for tha year ènded 31 December 2024. R•spon8lblNtt•s #nd basls ot r•port As the Trust¢¢$ of the tharity you arè responsible for Ihe preparatton of Ihe ffinanaal statements accordanEe vAth Ihe reqU1ments cl the ChwtiesAct 2011 Ilhe 2011 ACV. I report in respe(a of my •x8mination of the charity'5 finaniyal statements cattied out under se¢tlon 145 of the ChaTtties Act 2011. In carrying out my examinalton I haw fdbwed the Direthns given by the Charity Comfni¥8ion ulldersection 145(5}Ibl gf the Chariles Aet 2011. Ind•p•nd•nt •xarylnerf8 Statement Your att6ntlon 18 drown to the fact that the (*arity has prepared Ihe accA)unis IfknancAal statements) in accottlancè ¥th Actounting and RetM)rtÉng by chall11 preparw thtrlr accounts in accordance wth the Financ4 Reporting St?n¢Jard apICable in the UK and Republic of Ireland IFRS 1021 in pferenCE to the AcLountMig and Rewting by ChariliÈs.' Slalement of ReMded PractSce issu8(l on 1 April 2110$ which is r8fvrtgd lo in the extant rogulatS bul has since been vfjlhdrawn. We under8tsnd that this I8 been done in ordèr for the a(xounts to provide a true and lair ¥1 in acwrdance with the Genorally Aepted Accountin9 Pr¥diw effectlve for repon9 periods beginning on or after 1 J?Uary 2015. I have completed my ex•miThation. I fim1 that no matters havè come lo my attention ifTr connectNJn with the examlnati¢)n 9Svhu mè cause to belleve that in any mat&rial 185pect: accounting re¢ords were not kept in respect of the tharity as required by saction 130 of the 2011 Act,. or the fjnanctal ?tsternenls do not acu)rd with those records,, or Ihe financlal slalements do not eon¥Jty wlh the applicable requlrèments concerning Ihe form and cmtent of financial stalements sel out in the Chariiies IAcY4)unts and Reports) Re9uktion5 2008 other than any r4qWMent that the financial statements give # and fair view, whith i¥ not a matter condared as part of independent examinat'on. I havè no concewts and ha come ac¥oss no olhEr rnatters In connocoon wlh the examination lo attention sho1 be drawn in this reporf in otdeT to enable a proper und¥r8tsnding of the finantAal Statements to be reached. WeThJ8 knn Hi4)bafd FCCA Burgis & 8ulthk 2&25 Waterbo Place Leamlnglixi Spa CV32 SLA
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARir() Statement Of Flnanclal Actfvitles For the year ended 31 December 2024 SlrTh¢mg$ D¥•9 Chari VnMtrl¢tèd I)e8Ignat Endowm•nt fund• fund• funds 9en¢rnl Totsl 2024 Totsl 2023 Nots$ Int0Th and endowments from: Lieence fees- car park Rènt received- Leasowes Farm 43 Brook Stree( WaICk Investments.. COIF Diwdends M&G Income Brewli tlolphin Cividends 1.750 1,750 1,750 3.278 34.205 3,276 34.205 3,191 33,4( 417 215 3,725 3,057 3,474 21S 3.725 2,57S 17S 6.235 Tolal Income and •ndowmw 43.588 3.057 46.645 47,332 d[r• on: Warwick Unitèd Charliy WanvickApprenYclng Chgnlles 4.261 36,649 4,261 36,649 3,481 10.357 Tota Grants 40,910 4Q,910 13.8J8 Other ex Insuran Repairs and renewa15 Clerk fees Independent ex•miiefs fÈÈs Professlonal faès Sundry rokers faés 1.354 1,354 5,247 2.250 308 3,224 314 878 2,250 2.250 362 658 272 839 658 272 839 Totsl r•si*urGos •xpend•d 45,8C 839 46,645 27,131
THE APPRENTICING AND RELIEF IN NEED CHARITIES IKNOWN AS WARWICK APPRENTICING CHARITY) Statement Of Financial Activities (Continued For tho year ended 31 Decèmber 2024 Unrestrltted D•siated EThlo*Trn8nt fund8 funds fund¥ lle1 Total 2024 Totsl 2023 Mtrl IncomelExpendMufe before gainsllknssesl on investment (2218} 3.057 18391 20,201 Nat gainslllosses) on inv8sfmenls 1,478 8,981 10.459 23,8 Nèt Incomiry rnsour¢¢s boforo nsfers (2218) 4,535 8,142 10,459 44.091 Gmts transfers belwaén funds 2218 {2.2181 N•tmovement Sn funds 2,317 8.142 10,459 44,091 Fund bdanees 8t 1 JaThJary 2024 100,1))O 750.940 850.940 806.849 Fund bal•nc•s at J1 December 2024 102,317 759,082 8fj1,399 850,540
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Statement Of Finan¢lal A¢tivlties Icontlnued For the year ended 31 December 2024 Unrestslctgd Oeslgnatod Endovmwnt fundg Totsl 2Q24 Total 2023 genoral les In¢omo and gndowrnonts from: Income from Sli Thomas D¥lw Charty Grant received from Warwdt Refil Need Charity Donations- lfjng Henry Vlll TNst t)onations- MO0 f¢bbits Donations from indmduals Invèsiments.. COIF Diwdends M&G Intome BreN Dolphin Dividends Interest Annual Founders Dinner receipts 38,649 36,fj49 10,357 10.IK)O 30.000 23.566 1.000 30.0(K) 23,566 1,239 1,000 3.670 21S 6.337 3.670 215 8,337 2.720 175 6,169 1.619 1.619 1,320 TolAI In¢omè •nd gn*wment8 103,0 103.056 33.091 Ex ndiiurn on: Amounts appld from othar grants other ax Clerk fees Independent examiners fees Websrte costs Annual Founderfs dinner sts Brokers fees 50,153 50.153 47.907 nses 6,000 3.111 6,000 3,111 180 1,981 1.481 234 2,2SO 1,378 1,981 341 1.140 Tr>tal r•60urce8 exnded 61,766 1.140
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Statement Of Flnancial Activities (Continued For the year ended 31 Decemb•r 2024 Unrestrfet•d De8ignat•d Endow7nent lund$ fvndts fund 9¢neral Total 2024 Total 2023 Notes Net IncomeJExpendituie before gainslO065es) on Inves(m•nt 41,290 {1.1401 40.1SO (27.3241 Nel gainslllossès) on inveslmpnts 17,3861 11,5Tr) 10,114 P04) Net movement in fvnds 39.6 10.wj 50.284 127,5881 Fund balanc•s 811 January 2024 77,819 210.392 288.011 315,599 Fund bal*ncgs at 31 D•cember 2024 117,523 220.752 338,275 288,011
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Statement Of Financial Activities For the year ended 31 December 2023 SlrThomas De¢S Chari Unre•trictsd Designated Endowment fundg fund lund• general Total 2023 Totsl 21122 Note Ineome •nd endowinents from: Licence fees- car park Rent re¢elved'. Loa$Ow Fam) 43 Brook Str88t, VV¥iCk Investments.. COIF DivJeThJs MSG Income 8rewn Dolphin Omdends 1,750 1,750 2,479 3,191 3,191 3.27e 33,4C6 33,406 28.707 1,071 175 175 1,329 2.575 175 1,849 6,235 6,235 3.188 Tolal incomo and •ndowmonts 45.828 175 47,332 39,595 Ex ndltrr• on: WaThck Unftad Chafity Warwtck Apprentic¥ Charities 3,481 3,481 3,193 10.367 10.357 27.464 Total (>8nts 13,838 13,838 30.657 0th8r ex Insurance Repairs and Yew#15 Clerk fè8S Indèpèndent eXine¥S fees Professh)nal fees Sundry Brokers fees ns8s 1.072 1.072 1.498 5.247 2.250 5,247 2.250 843 2,280 281 2,41 3.224 314 3,224 314 878 878 1,042 Totsi resourc•$ •xpend•d 26,253 878 27.131 39,557
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITYI Statement Of Flnancial Actlvllies (Conllnued) For the year ended 31 December 2023 Thomas DÉ Charf Unrnltrictgd Doilgnat•d EndoeTht fund¥ nd$ funds Total 2023 Ttstal Z022 Nèl IncomeExpeniture before gainslllo8sesl on investment 19.575 17S 451 20,201 Net gaknslllossesl on invg$tments 23.4e8 (2,136) 2,558 23.890 123,968 Net Incoming resoUe$ lOr8 transfers 43,043 {1.9611 44,091 P3,9301 GTOSS transfers bewn fund$ 168,8531 68,853 Not movement In fuTrds 125,8101 66.8¥2 44.091 (23,9301 Fund bn¢g8 at 1 January 2023 25,810 33.108 747.931 806,849 830,780 Fund balance¥ •131 D•eèmb•r 2023 11J),000 750.940 850,940 81x8,850
THE APPRENTICING AND RELIEF IN NEED CHARITIES IKNOWN AS WARWICK APPRENTICING CHARITY) statement Of Flnancial Activities (Continued} For the year ended 31 Deeember 2023 ntl¢ln and R•li•t in Unrestrkted Deslgnatsd Endowment funds lunds funds general Totsl 2023 T¢)tsl 2022 Notes Ine•mg and ondowm nts In¢ome frorn Sir Th(¥nas Defvès Chgrty Grant received from Warwick R¢léf in Need Charity Donati(m8- Moore Tbbits Donatsons -others InVestnts.. COIF Dividends M&G Income Br6win Dolphin DiMd•nds Intert Annual Foundèrs Dinner recetpts 10.357 10,357 27,464 10,LJO lo,0 1.239 1,239 1,000 1,0(KJ 925 175 1.795 2,720 ?75 1.953 8,169 6.189 347 1,320 1.320 1,400 Totsl income and Trdowments 31,296 1,79S 33,091 37.039 rtdlture Amounts appl*d from other grants 47.907 47,907 52,350 CkTk lees Independenl axamingrs f8e5 Webslte costs Printlng, Poslag• & Slalionery Annual FOde¥ dinner costs 6.000 6,000 2,848 234 2.418 234 2,250 2,250 1.376 1.7a6 1,903 1,032 Total resources exnd•d 59.383 1.032 60,415 64.849 10-
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) ststement Of Flnancial A¢tivitles (Contlnued) For the year ended 31 December 2023 ntitin and R•llDt irt Need Unr•strlct•d De519nated Endown)en¢ fund$ fvnd8 fund ggn•rdl Total 2023 Ttytsl 2022 Notss Nel IncomelExp6ndlturg before gaiA51005ses} on I@StnnI 128,0871 (27,324} 127,810) Net gainslllosses) on inv#slments 2.465 12,729) (2641 133,8091 Net mov•ment in funds 125.6221 11,968} 127.5881 161.2191 Fund balances at 1 January 2023 103,241 212,358 315,599 376,818 Fund balances at 31 De¢ember 2023 77,619 210,392 288.011 315,599 11
THE APPRENTICING AND RELIEF IN NEED CHARITIES IKNOWN AS WARWIGK APPRENTICING CHARITY} Balance Sheet A8 at 31 December 2024 2024 2023 Note$ Fix•d ass•ts Investmènt propertie8-Sw Thornas D3 Chaty lrnve8lments- SirThomas Charity In¥88trnents. AppTendng and R•lief in Neod io 595,lJOO 224,737 595,0fr) 215,108 292.022 283,3 1,111,759 1,093.498 Curr•nt a8s•ts Debtors Cash at bank and In hand 12 15,18S 14.32D 55.485 114,511 69,5 Crnditor8: amounts lalltng dut Mthin ono y•ar 13 I26.5) (24,3521 Nel current assots 87,915 45.453 Tolal ¥ets lom currontllabllit 1.199.674 1,138.951 Capltal funds Endowmsnt fund Slt Thomas Dèlvès CharAy Apprenticlng and Rol in Need 759,Q82 220,752 750,940 210,392 General endowment fund$ 979.834 961,332 16 979,834 961,332 In¢ome fvndg Un Èstri ed fvnds- eneral Dè8lgnatÈd lunds- Sir Thoma8 Dalvès Charity General un[eStrted funds. 4pprenlKlng And Rehelin NÈÈd 102.317 11)J,000 117,523 77.819 219,840 177.819 1,199,674 1.138,951 rial slalemenls We approved by the Trust86s on r T Brown Tntstoe 12-
THE APPRENTICING AND RELIEF IN NEED CHARrriES (KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Flnancial Statements For the year ended 31 December 2024 Aceounting policies Chartty Infilnnation The Apk¥entrcing and Relief in Need Charities is an ynincorporaled Trust eonslituted under a scheme datad 28th Novernber 1930 as rewsad n Odobgr 1981 {Charrty No 5287461. 1.1 Accountln9 ¢gnv•nUon The finano81 stst¥m?n¢s have be8n pr8pared in aordance wllh the tharftws g¢)veming dooJmenL the ChÈrities Act 2011, FRS 1(r2"The Financial Reporting Standard appfjcable in the UK and Ropyblic of Ireland" rFRS 8OYI and Ihè Charfles SORP 'Acuuntlng and Reporfng by CharFti¢s.' Stslement ol Rets)mmended Practs¢ 8ppllc8ble to charities prèparing their aoUntS in aecordan¢g with the Financial Reporting Stsndard applicabte in the UK and R¢publlc of Ireland IFRS 1021" (effective 1 January 20191. The chaiity is a Put1¢ Benefl Entlty as defmed by FRS 102. The charity has tskèn advantage of the provis)ns in the SORP chitl•s not lo preparo a Statomant of Cash Flows. The finaneAal statements have departed from the Chere6 (ACCOt$ and Raportsl Regulatn$ 20LI8 only to thg extént required lo provhl& a twg arKI tsir wie. This dèparturg has involved follomng thg Statement of Recommended Pradle6 lor thaaties apptying FRS 102 rather than th8 versKJn of the Statemenl cl Recommended Praetie8 which is referred to in the Requlations whKh has since been withdrawn. The finarK4al statoments arè prep8red in stertsng. 18 the func'onal cUenCY of th? thaity. Monelary amounts in these fin8nci?I statementg are roun¢Jed tg Ihe n8aiest £. The ffinancial statements have boen pw>ared under the historical cost conv•nlion. mc•Jthed to indude inveth)ent propertle5 and Cerla ffiaal kn6truments al fair value. The prlnclpal aUntIng polKaes adopled are set out below. 1.2 Gcslng concern At the time of approwng the ffin8nclal stlwnenEs. the trustee¥ have a reasonable expectation that the tharity has adequate resoureès lo continue in 0ratIonal lSnCe for fv foreseeable fvkne. Thus the trustee8 continue lo adopt the gojig concefn basis olaccounting in preparirg Ihe financial statements. la Charftèble funds Uni&strtcl¢d fithds are avadable for usè at 1he discrelh)n of thè Iru¥lges in fvrlherance of I1r tharitable obJe¢tive8. De8ignated fijnds comprise fund$ which haw 58t aside al the disCrnoTh of the trtjstees for spec purws•$. The purpose and oftha fud8 15 8el out In the Th)tes to th¢ finandal Statements. Restri¢led fuThls are subject lo sp8cFffie nditionS by doTrJrs or grantors as to how they may be used. The purposes and uses of the i•strirAed lunds ara set out in the n¢)les to Ihe finda1 str1ents. Endowment Ivnds arè subject lo speofic cor¥Jth"ons by donors that thè capttsl mu$1 be malnlained by th chanty. 1A In¢omSnq r•sourc•$ Income is recognised whon th¥ ¢haTity is legally entitled toll aft¥r any Performan condrflans have been met, the amounts can be mèasured reliably. and rf is pmbabb8 that inojmè b9 refve. Cash donations tre regnised on receipt. othei donations are r9cognised once Ihe tharity has bèèn notified ol the donation, unl•ss p8rfortnance dItIOnS requlr¢ defeFral of the amount. Irme 18x recvverable in relation to donab.ons red under GiftAKJ ordeeds ofu*venant is iè¢ognised al the tim8 ofthe d¥thn. 13-
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Flnancial Statements (Contlnuedl For the year ended 31 December 2024 Aeeountlng pollel•s Grants recEived are shown on the bass tsfarn¢uni$ receiwdblè. IrKome from endowment knds are Ireètéd as unr•slrict8d arKI is Iransferied to unreStted funds al the end of the year. All inveslm8nt Incomè 8xcTrJdlng dapo$ll int9rgs1 1$ $W on lh& bas1$ ol aMOt$ raceivable In the year and indudes any lax c4edit or ino)me lax which is recoverabfe by the tharity. Deposit Interest 13 shown on th basis of amounts u&dOtod in the yoaf. IA RKour¢es expended Expenditure is ac£ounted for on an ats basi& are paid out in atXOF(lan¢e wlth the ¢h8dV$ stated otyects and arè recognis•d when payment is approved by the Board oTnJstees. 1.0 InVesthnt propert• Investment propefty. wht¢h 1$ propèrty held lo eam ntr]S andlor for cgprtal 8pprecth"on, is inrtialty r8COgnised at eost, which indudes the wrchase cost and any dwertly atlributable expenditure. Subsequently il is measured at fair value at the porting dale. The surplus or defidt on Valat1)n is recognised in the Statement of FinanaaFActNilie5. 1.7 FIX as¥•t Inv•stmonts Fixed asset invttslmonts are Initially measured al traractiOn price exduding transaction costs, and are subsequently me8surÈd at fair v8lu8 at each repng date. Chargès in fair value ar• recognised in net incomellexpenditurel for the year. Transac'on costs are expensed as in¢JJrred and off$el against the valu¥ of tho mowment in fair valuè for ma year. Al profits and bssas on disposal oflnveslments a taken to the Endowment Fund rekting to the In$1M8nL 1.8 Ch •nd ¢ash oqulvol•nts Cash and eA$h eqUivants Sndude cash in hand, d6posits held at ¢al with bks, other $hort-tem liquid investments with original malurilies of thret months or ie8s. and bank ov&rdr4fts. 1.9 Financial in8trument¥ The charity ha¥ trlerted b ¥pY Ihe provislons of Sectknn 11 'Baslc Flnancwl Instruments, and Sedon 12 'Olr Fknancial Inslrumentsjs$ues' of FRS 102 to al ol rfs finaal $t[rnents. Financial instruments are recognised in Ihe th8ri1ls balance sheèt when lh8 charty bacomès paity to the contraLXu•l proonS of the instmment. Nnanclal assets and liabilities offset. with the nel amourts presented in the finallrial slalemenls. when there is 8 legally enforee8ble righl to set off tha rècognis amounts and thare is an intention to setlk on a net basls or lo realse the asset and setNe the liability sThultaneousty. Bas1¢ finan¢lal assets Baslc fanCia assets. which include debtors and cash and bank balanrzs, aré inrflally m•asured at tran$8th'on price induding transaction costs and a subsequenlty carried at amortlsed cost Using the 8ffeclive interest method unknss the arrangement ¢ons1itutes 8 finanryig transaction, byhare the transaclion is moasured at the wèsent value of the ftrture receipts discourted al a market rate of inter8St. Finanrx81 ag5ets cLas8ihd as receivatAe swthin on? y¥#r are nat arn¢rt4s. 14-
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY Notes To The Flnancial Statements (Contlnued) For tho year ended 31 December 2024 A¢countlng policies {contknts•dl Basi¢ fmancial Ilablli1185 Basic finarla1 liabilities, inctuding creditors and bank loans are Initialty iewgnlsed at transaelKJn price unless the arrangement wnstitirtes a finanung transaction, wherè Iho debt instrument is masured at the present value of the future payments diseounlgd at a ma0¢ rate ot Inter8st. Flnanual liabl1t$ dassffied as payalAe vrtthin one year arè not amortised. Debt Instruments arè subsequentty carrted at amorb8ed ojst, usiwJ tht èffective irternst ratè method. Trade ¢reditors are olgationS to pay for goods or Serv$ that have been acquired in th8 ordinary (x>urse ol opErations from suppliers. Amounts payable are classlfied as cvrrent liabilfties rf payrnent is due wthin one year or 11 not, Ihey are &sén1ed as non.current liabilities. Trade eTrditors are recogniséd In?tially at transactson prKe and subsequentty measurad at amortised c4)st using the effecttve inter6St methrrtl. D•rncognition of ffnanelalllabilities FinancJal Ilabdittes are dere¢ogni$od when the tharivs ¢onlractual Obltqalt3 expire or are dl8ehorged or cancel. Inv•stmènl UnFestrSct•d Dabgnatgd Endowm•nt fvnds fund• fund6 general Totsl 2024 Total 2023 Rental incomè In¢ome from fistad investments Incorng from u1$le inve5tment8 Intèrgst reCeble 39,231 10.082 4,517 39,231 10.C62 7.ST4 36.347 12,404 5,645 111 3,057 53,810 3.057 58,867 56.507 For th• y•ar •Thd 31 D•cornbor 2023 S3,208 175 3,124 Olhor Income 2024 2023 Annual dinner income 1,819 1,320 15-
THE APPRENTICING AND RELIEF IN NEED CHARITIES IKNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Financial Ststements (Continued) For the yaar onded 31 December 2024 Charitable activities 2024 2023 AAUnIS applied for advancement in life and other grant¥ rwL United Chality 50.153 4.261 47,907 3,481 54.414 51,388 During the year the charity approved 49 advancement Trn Irf• awards to Sndiduals totslling £50,15312023.' 49- totaling £47.90n. None ofthe Irnsts lor any petsons connected with them) re¢eNed any remunèrathon. benèfits ¢y reOmbur8e(I expensos from the charity during the year. Employ• Thè avetage monthly numbèrol amployeos durlng the ygorwa$'. 2024 Numbfry 2023 Number Total Th8r• wara no employeos whose annual remuneration was moTP than £60,000. Taxatlon The d7arity is gX8mpt from laxalion on its ac1.be$ be¢au88 all Its nme 1$ applied lor charilable purposes. Net gain•llIoe•) On Inv•8tm•nts Unrn¥trictod D•si9nat•d Endovm)onl fvnd$ nds Total 2fj24 Total 2023 Revaluation of investments Gainlllossl on sale of invesiments 11,3861 1,478 18,693 1,788 18,785 1,788 25.553 {1,9271 Yr ended 31 Decemkr 2024: 11,386) 1,478 20,481 20.573 23,626 yrended 31 Decernber 2023: 25,933 12,1361 1171>
THE APPRENTICING AND RELIEF IN NEED CHARITIES {KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Financlal Statements (Continued For the year ended 31 December 2024 Flxèd ag8el investmnts Listèd Unllsted ImfeSknts Invo$lmgnts Cash in portfolio Totsl Cost or valuation At 1 January 2024 Additrons Valuation changgs Brokers fee5 Disposals 319,142 44,345 16.092 165,139 14,217 144.3451 498,498 4,481 20,573 12,3121 P.3121 41.427 141.42n Al 311)ecembw 2024 338,152 169,620 8,987 518.759 Carrying amount At 31 Decgmber 2024 338,152 169,620 8,987 516,759 At 31 Oecernb8r 2023 319,142 165,139 14.217 498.498 17_
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Flnancial Statements (Continued) For the year onded 31 December 2024 10 Inveslrnent property 2024 Falrvalue At 1 January 2024 and 31 Deeembei 2024 S95,000 Leasowes Farm was revalued on 29lh June 2022 by Paul A Britten B.S¢. FRICS (Chartered SuNeyor51. Indeptrnt Value not connect8d wrth th• th8rity on the basis ol market value. 4>53 Brook Stre¢t, WaThAck wwe revalued at 3rd August 2021 by Paul A Britten B.Sc. FRICS IChart&red &Jrveyorsl, dePendent valuers nol connected with tho charfty On the basi$ ofmarket value. The Trustee8 consider this to be the fair value ollhe In4*sthient properlle8 as at 31 Oe¢ember 2024. Ivded In Invgslment properties are- Leasowes Fam)- valued at £270,000 453 Brook Str8eL W3Nlck- valuad at £325.CrfJO 11 Fln•n¢lal Instrumonts 2Q24 2023 Carrylng amount of flnanclal a6s•ts Equily in$truments m6asured at fair value through profrt or loss (Invesiments at rnaet v¥kr#l 516.759 498,498 12 D•btorn 2024 2023 Amounts fllllng due w5th1n one year: Ren15 Tl¥able Prepayments and accrued income. 13,894 1,271 13,131 1,189 15,1e5 14.320 13 C¥•ditors: amount8 lalling due within one y•ir 2024 2023 AmNnts due to Warwlck Unrted clrNIeS Arrnwls Rent ietsivad in adv8nce 4,261 12,1fA) 10,175 6.674 7,610 10,068 26,5 24,352 18-
THE APPRENTICING AND RELIEF IN NEED CHARITIES IKNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Flnanclal Statements (Contlnued) For tho year ended 31 December 2024 14 D¢f•ed Income Deferr8d income at the year erMI relaled to rents Charged in 1$ i1luded li Ihg ffinanclal 6iatementS 85 follows.. 2024 2023 Deferred income 1$ irKluded within: Cuwent liabil'ties 10,175 10. Movements in the year.. Deftrrred Income at 1 January 2024 Released from premous rI0 R¢srCeS delerred in the year 10.068 110.0661 10.175 6,560 16,560) 10,068 Deferred in¢ome at 31 Decomber 2024 10.175 10.(8 1S ilnYe$trict•d f41nds- Desl9nalpd Thesè are unreslrictwy lund8 which aTh material to the tharKy's ¥fvitigs. At 1 J•nuary 2024 Transfers GalnB and losses At31 De¢•mbor 2024 reBourc•s Deslgn8ted Repairs & Renewals fund 100,000 3,057 (2.218) 1,478 102,317 Previou¥ y•ar: At 1 January 2023 IoMIng rastsur Tramlern Gains and los$ At31 D¢¢•rnber 2023 Designated Repairs & Rgngwals fund 33,108 175 68,853 12,1361 1CQ.000 The D•s1gr7ated Repalrs and Renewals Fund ha$ been established lo prowdo the charity wth ffl¢4enI fund$ to meet emoigency repair costs Ihe rnst ofvotd petiods. 19-
THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Flnanclal Statsments (Continued) For tho yoar ended 31 December 2024 1$ Endowrnent fvnds Endrmment fimds rèprèient 893ets whickn must be held permanenty by thè charity. IrKome arising on th endowrnent fijnds can b8 US8d in aOrdanCe with Ihe objects ol the charity and is indud•d as unreytricted me. kny cap1t81983 or losses arisin9 on the assets fom part oftho fund. At 1 January 2024 Incomlng R•8OUTe¢8 resovre¢$ expgnd•d Gains and lo#ses At31 Do¢omber 2024 P•rnianentèndovfftents &"r Thomas D*eS Charity AppntIn9 Relief in Neèd Charitses 750,940 1839} 8,981 759,082 210,392 11,140) 11.500 220,7S2 961.332 11.979) 20.481 979,8SI Prnvlou9 y•8r: At 1 January 2023 Incoming Rèsourcès rn5vur5 expended G4in$ and 10860$ At31 OK4mber 2023 Pemi•nent endowmènts Sw Thomas Delves Charity Apprenbclng and Relefln Neèd Chartb85 747,931 1.329 (8781 2,558 750,940 212.358 {1.032} 12.7291 210,392 $60,289 3,124 11,9101 11711 961,332 -20-
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THE APPRENTICING AND RELIEF IN NEED CHARITIES (KNOWN AS WARWICK APPRENTICING CHARITY) Notes To The Financial Statements (Continued) For the year ended 31 December 2024 18 Cothtlngent liability t)uring the year a donation of f23.566 was reeaved frcm MO0 & TILits, with the consent of Solicito RegUlatn Authoiily. being fvndB where dients of Ihe firm Could nrA be traced. As a condition lo the receipt of the fvnds, the Charity had lo Undertake to Tetum them shoukl thara ever be a lawlul daim up(¥) Ihfrm. 19 Related party transactto During the rth• charfty ente into the )Ying Iransactlons with parties: The charity rec9fr donatwns ol £23. 12023: £1.228) from, and ld £nil (2023." £1,883) in legal feès t Moorè and Tibbt8, 8 related party ofthe c{k to Charity.