Charity registration number 800162 (England and Wales)
THE PARSONS CHARITABLE SETTLEMENT
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 05 APRIL 2024
1
The Parsons Charitable Settlement
Annual Report and Financial Statements
Year Ended 05 April 2024
| Contents | ||
|---|---|---|
| Page | ||
| Charity Reference and Administrative Details | 3 | |
| Annual | Report | 4 - 5 |
| 6 - 8 | ||
| Statement of Financial Activities | 9 | |
| Balance Sheet | 10 | |
| Statement of Cash Flows | 11 | |
| Notes to the Financial Statements | 12 - 20 |
2
The Parsons Charitable Settlement
Charity Reference and Administrative Details
Year Ended 05 April 2024
Charity registration number 800162 Trustees Michael H Parsons Diana C Parsons Emma C Ash Ath Registered office Beechfield Church Lane Haslemere GU27 2BJ Auditor Eureka Accountants Limited Chartered Certified Accountants Statutory Auditors 63 Lancing Road London IG2 7DQ Bankers Schroder & Co. Limited 1 London Wall Place London EC2Y 5AU Investment managers Cazenove Capital 1 London Wall Place London EC2Y 5AU
3
The Parsons Charitable Settlement
Year Ended 05 April 2024
The Trustees present their report and the audited financial statements of the charity for the year ended 05 April 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to 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 published in October 2019.
Trustees of the charity
The trustees who have served during the year and since the year end were as follows:
Michael H Parsons Diana C Parsons Emma C Ash
Objectives and activities
only within the UK,
including assisting elderly people, individuals with disabilities, and other worthwhile causes. The charity seeks to provide financial assistance to organisations and initiatives that deliver meaningful benefit to vulnerable groups and the wider community. Grants are awarded at the discretion of the trustees, taking into account the suitability, impact and alignment of each application with the charit
Fund-raising Standards Information
The charity is funded by Michael H Parsons, who also serves as a trustee. All donations received are applied making activities. The charity is registered with HMRC to receive Gift Aid on eligible donations, thereby increasing the value of contributions made to support its work.
Public benefit statement
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and funding policies.
support to organisations and individuals engaged in charitable work, particularly those assisting elderly people, individuals with disabilities, and other worthwhile causes.
Achievements and performance
The Parsons Charitable Settlement continued to provide vital support to elderly people, individuals with disabilities, and other worthwhile causes. The charity worked and contributed financially to the charitable causes of other charities such as The Lewy Body Society and Royal British Legion in the year.
Financial review (including reserves policy)
The charity received a significant donation from Michael H Parsons in the year. The charity ended the year with total income of £2,810,268, expenditure of £7,870 and closing reserves of £2,939,953.
Funds are held in The Parsons Charitable Settlement as well as in investments managed by Cazenove Capital. All payments are distributed through authorised payment channels.
Reserve Policy
The trustees aim to maintain unrestricted reserves equivalent to 3 6 months of core expenditure to ensure continuity of operations in the event of reduced income. The charity has invested the uncommitted funds managed by Cazenove Capital.
4
The Parsons Charitable Settlement
Year Ended 05 April 2024
Plans for future periods
The trustees are pleased to report that the charity has continued to make strong progress towards its objective and are committed to building on this momentum and further expanding our impact.
Structure, governance and management
The charity is constituted as a charitable trust registered with Charity Commission (800162). The charity was established by a charitable trust deed on 3rd October 1988.
The governing document sets out the powers of the trustees and the framework within which the charity operates. The board of trustees are responsible for overseeing the management and administration of the charity, ensuring that funds are applied in accordance with its charitable objectives and that all regulatory obligations are met.
Trustees meet periodically to review grant applications, monitor financial performance, and ensure that the charity continues to operate in line with best practice and the Charities SORP (FRS 102).
Trustee
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors
below the audit threshold.
.
Approved by order of the board of trustees and signed on its behalf by:
Michael H Parsons Trustee 16 July 2026
5
The Parsons Charitable Settlement
to the Trustees of Parsons Charitable Settlement
Year Ended 05 April 2024
Opinion
We have audited the financial statements of The Parsons Charitable Settlement (the 'charity') for the year ended 05 April 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity affairs as at 05 April 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other matter
The financial statements of Parsons Charitable Settlement for the year ended 05 April 2023 were not audited. Accordingly, the comparative figures presented in the financial statements for the year ended 05 April 2023 are unaudited.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the nnual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
6
The Parsons Charitable Settlement
to the Trustees of Parsons Charitable Settlement
Year Ended 05 April 2024
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:
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the engagement partner ensure that the engagement team collectively had the appropriate competence;
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capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector; and
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the charity, including the SORP, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation.
understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
7
The Parsons Charitable Settlement
to the Trustees of Parsons Charitable Settlement
Year Ended 05 April 2024
In addition to the above, our procedures to respond to the risks identified included the following:
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reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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enquiring of management, and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
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reading minutes of meetings of those charged with governance.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity eport, or for the opinions we have formed.
Eureka Accountants Limited
Chartered Certified Accountants Statutory Auditor 63 Lancing Road London IG2 7DQ 16 July 2026
8
The Parsons Charitable Settlement
Statement of Financial Activities (Including Income and Expenditure Account)
Year Ended 05 April 2024
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Charitable activities 9 Total expenditure Net income / (expenditure) Other recognised gains / (losses): Gains on revaluation of fixed assets 11 Net movement in funds 14 Reconciliation of funds: Total funds brought forward 14 Total funds carried forward 14 |
2024 Unrestricted funds Restricted funds Total £ £ £ 2,804,484 - 2,804,484 5,784 - 5,784 2,810,268 - 2,810,268 7,870 - 7,870 7,870 - 7,870 2,802,398 - 2,802,398 5,515 - 5,515 2,807,913 - 2,807,913 132,040 - 132,040 2,939,953 - 2,939,953 |
2023 Total £ 1,050 4,933 |
|---|---|---|
| 5,983 2,420 |
||
| 2,420 | ||
| 3,563 - |
||
| 3,563 128,477 |
||
| 132,040 |
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
9
The Parsons Charitable Settlement
Balance Sheet
Year Ended 05 April 2024
| Note Fixed assets Investments 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets Charity Funds Unrestricted funds 14 Total charity funds 14 |
2024 £ 2,918,164 26,709 (4,920) 21,789 2,939,953 2,939,953 2,939,953 2,939,953 |
2023 £ 108,165 |
|---|---|---|
| 23,875 | ||
| - | ||
| 23,875 | ||
| 132,040 | ||
| 132,040 | ||
| 132,040 132,040 |
The financial statements were approved and authorised for issue by the Board of Trustees on 16 July 2026 and were signed on its behalf by:
Michael H Parsons Trustee Date: 16 July 2026
The notes on pages 12 to 20 form part of these financial statements. Charity registration number:800162
10
The Parson Charitable Settlement
Statement of Cash Flows
Year Ended 05 April 2024
| Note Cash flow from operating activities 16 Net cash flow from operating activities Cash flow from investing activities Payments to acquire investments Interest received Dividends received Net cash flow from investing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at the end of the year Cash and cash equivalents consists of: Cash at bank and in hand Short term deposits 12 Cash and cash equivalents at end of the year 16A |
2024 £ 2,801,534 2,801,534 (2,804,484) 1,148 4,636 (2,798,700) 2,834 23,875 26,709 - 26,709 26,709 |
2023 £ (1,370) |
|---|---|---|
| (1,370) | ||
| - 409 4,524 |
||
| 4,933 | ||
| (6,303) 30,178 23,875 - 23,875 23,875 |
11
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
1 Summary of significant accounting policies
(a) Basis of preparing the 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 £.
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.
(b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Gift Aid is included based on the amounts recoverable at the accounting date.
Investment income is earned through holding assets for investment purposes such as shares and bonds. It includes interest and dividends. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income and dividend income is recognised as the charit
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
12
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
(d) Expenditure recognition (continued)
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
(e) Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value / (l FA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
(f) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(g) Financial Instruments
The charity
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
13
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
Basic financial liabilities (continued)
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity or cancelled.
(h) Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
(i) Tax
The charity is exempt from tax on its charitable activities.
(j) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
(k) Critical accounting estimates and judgements
In the application of the charity estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2 Income from donations and legacies
| Donations Gift aid |
2024 £ 2,804,484 - 2,804,484 |
2023 £ - 1,050 |
|---|---|---|
| 1,050 |
14
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
3 Income from investments
| 2024 £ Dividends received 4,636 Interest received on deposits 1,148 5,784 nalysis of expenditure on charitable activities Charitable activities 2024 Activities undertaken directly Grant funding of activities Support costs 2024 2024 2024 £ £ £ Medical research - 1,600 - welfare - 300 - Community & heritage - 1,050 - Audit and accountancy - - 4,920 - 2,950 4,920 Charitable activities 2023 Activities undertaken directly Grant funding of activities Support costs 2023 2023 2023 £ £ £ Medical research - 1,020 - Veter - 400 - Community & heritage - 1,000 - - 2,420 - |
2024 £ Dividends received 4,636 Interest received on deposits 1,148 5,784 nalysis of expenditure on charitable activities Charitable activities 2024 Activities undertaken directly Grant funding of activities Support costs 2024 2024 2024 £ £ £ Medical research - 1,600 - welfare - 300 - Community & heritage - 1,050 - Audit and accountancy - - 4,920 - 2,950 4,920 Charitable activities 2023 Activities undertaken directly Grant funding of activities Support costs 2023 2023 2023 £ £ £ Medical research - 1,020 - Veter - 400 - Community & heritage - 1,000 - - 2,420 - |
2023 £ 4,524 409 |
|---|---|---|
| 4,933 | ||
| Total 2024 £ 1,600 300 1,050 4,920 |
||
| - 2,950 4,920 |
7,870 | |
| Activities undertaken directly Grant funding of activities Support costs 2023 2023 2023 £ £ £ - 1,020 - - 400 - - 1,000 - |
Total 2023 £ 1,020 400 1,000 |
|
| - 2,420 - |
2,420 |
4 Analysis of expenditure on charitable activities
£7,870 (2023 - £2,420) of the above costs were attributable to unrestricted funds.
5 Allocation of support costs
Support cost 2024
| Support cost 2024 Basis of allocation £ 2024 Audit & accountancy % of grants awarded Total |
Raising funds Medical research Veteran welfare Communit y & heritage Total £ £ £ £ £ 2024 2024 2024 2024 2024 - 2,669 500 1,751 4,920 |
|---|---|
| - 2,669 500 1,751 4,920 |
15
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
| Support cost 2023 Basis of allocation £000 2023 None % of grants awarded Total |
Raising funds Medical research welfare Communi ty & heritage Total £ £ £ £ £ 2023 2023 2023 2023 2023 - - - - - |
|---|---|
| - - - - - |
6 Governance costs
| Consultancy remuneration 7 Analysis of grants Grant analysis 2024 Medical research Community & heritage |
2024 £ 120 8 4,800 4,920 Grants to institutions Grants to individuals Support costs 2024 2024 2024 £ £ £ 1,600 - - 300 - - 1,050 - - |
2023 £ - - |
|---|---|---|
| - | ||
| Total 2024 £ 1,600 300 1,050 |
||
| 2,950 - - |
2,950 |
7 Analysis of grants (continued)
Recipients of grants to institutions 2024:
| Anthony Nolan The Lewy Body Society Royal British Legion Haslemere museum Blood Cancer UK British Red Cross Royal Berkshire Hospital ICU St George's Kidney Patients Association |
Medical research Veteran welfare Community & heritage 2024 2024 2024 £ £ £ 700 - - 100 - - - 300 - - - 50 100 - - 100 - - - - 1,000 500 - - 100 - - |
|---|---|
| 1,600 300 1,050 |
16
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
| Grant analysis 2023 Medical research Community & heritage |
Grants to institutions Grants to individuals Support costs Total 2023 2023 2023 2023 £ £ £ £ 1,020 - - 1,020 400 - - 400 1,000 - - 1,000 |
|---|---|
| 2,420 - - 2,420 |
Recipients of grants to institutions 2023:
| Anthony Nolan Royal British Legion Topic of Cancer The Fountain Centre The Trussle Trust St George's Kidney Patients Association |
Medical research welfare Community & heritage 2023 2023 2023 £ £ £ 400 - - - 400 - 100 - - 20 - - - - 1,000 500 - - |
|---|---|
| 1,020 400 1,000 |
8 remuneration
The remuneration amounts to an audit fee of £4,800 (2023 - £Nil).
9 Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2023: £Nil).
The trustees did not have any expenses reimbursed during the year (2023 - £Nil).
10 Staff costs and employee benefits
The charity had no employees during the year (2023: none) and therefore incurred no staff costs.
17
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
11 Fixed asset investments
| Cost or valuation At start date 2024 Additions Disposals Revaluation At end date 2024 Carrying amount: At end date 2023 At end date 2024 |
Listed investments Other investments Total £ - 108,165 108,165 2,804,484 - 2,804,484 - - - - 5,515 5,515 |
|---|---|
| 2,804,484 113,680 2,918,164 |
|
| - 108,165 108,165 |
|
| 2,804,484 113,680 2,918,164 |
The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.
Other investments are measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.
12 Current asset investments
| Short term deposits 13 Creditors: amounts falling due within one year Accruals and deferred income |
2024 £ 26,709 26,709 2024 £ 4,920 4,920 |
2023 £ 23,875 |
|---|---|---|
| 23,875 | ||
| 2023 £ - |
||
| - |
18
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
14 Fund reconciliation
Unrestricted funds
| Unrestricted Unrestricted |
Balance at 2023 Income Expenditure Transfers Gains / (losses) Balance at 2024 £ £ £ £ £ £ 132,040 2,815,783 (7,870) - - 2,939,953 |
|---|---|
| 132,040 2,815,783 (7,870) - - 2,939,953 |
|
| Balance at 2022 Income Expenditure Transfers Gains / (losses) Balance at 2023 £ £ £ £ £ £ 128,477 5,983 (2,420) - - 132,040 |
|
| 128,477 5,983 (2,420) - - 132,040 |
Fund descriptions
a) Unrestricted funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity and which have not been designed for any other purposes.
15 Analysis of net assets between funds
| Fixed assets investment Cash and current investments Other current liabilities Total Fixed assets investment Cash and current investments Total |
Unrestricted funds Total 2024 2024 £ £ 2,918,164 2,918,164 26,709 26,709 (4,920) (4,920) |
|---|---|
| 2,939,953 2,939,953 |
|
| Unrestricted funds Total 2023 2023 £ £ 108,165 108,165 23,875 23,875 |
|
| 132,040 132,040 |
19
The Parsons Charitable Settlement
Notes to the Financial Statements
Year Ended 05 April 2024
16 Reconciliation of net income / (expenditure) to net cash flow from operating activities
| Net income for the year Adjustments for: Dividends received Interest receivable Increase in creditors Net cash flow from operating activities 16A Analysis of changes in net debt Cash and cash equivalents Total |
2024 £ 2,802,398 (4,636) (1,148) 4,920 2,801,534 At 06 April 2023 Cash flows £ £ 23,875 2,834 |
2023 £ 3,563 (4,524) (409) - |
|---|---|---|
| (1,370) | ||
| At 05 April 2024 £ 26,709 26,709 |
||
| 23,875 2,834 |
17 Related party transactions
The charity received unrestricted donations of £2,804,484 (2023: £nil) from Michael H Parsons, a trustee of the charity. These donations were made in the normal course of activities and were not subject to restrictions.
20