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EEEE EE EE ED ' LL
The Weekite Fund
Registeredcharity no, 801210
~ e $ and the Inde t Examiner
Trustee's Report
~ The Fund remains in sound financial health as income continues to exceed expenditure.
~ There have been no calls on the fund by parents for over twenty years.
~ The last major expenditure was in 2009 when two years’ of leaver subscriptions were used to fund some house furniture.
~ The Fund's assets are traditionally split roughly 60% equities, 15% fixed income, 25% cash.
~ This appears consistent with the Fund's long-term aims of capital appreciation while retaining sufficient liquidity.
However, for the reasons outlined below, at the year-end date the cash weighting was higher.
The Trustees intend to review the asset allocation in the coming months.
~ Looking ahead, we see the potential for an increase of calls on the fund as the impact offee increases is felt in the parent body.
~ Further information regarding the Fund and its Trustees can be found in the Annual Return. ——- PLT RTS TC
~ The Fund is a registered charity and regulated by the Charity Commission.
~ The Fund has previously not been required to submit accounts to the Commission as it has annual income of less than £10,000.
~ Wn FY24 K received a legacy from an Old Weekite for £41,400 (paid from executors’ solicitors, TLT LLP), received11-Jan-24.
Therefore for the accounting period ending 5-Apr-24 it is required to submit annual accounts for the first time.
Further payments were received - £28,125.63 on 1-Nov-24 and £41.56 on 11-Nov-24.
As a result the Fund will also submit accounts in FY2S as its income will be in excess of £10,000.
Furthermore, income in both years Is greater than £25,000 threshold, so independent examination is alsorequired.
Thereafter we expect its income to revert to below the £10,000 at which it has trended over the last twenty years.
Independent examination
varant above, in FY2A the Fund's income exceeds £25,000 so accounts have been prepared and they have been independently exernined.
~ This was carried out by Jonty Gethin of Ashmansworth RG20, a Senior IT Consultant.
~ Mr Gethin is Treasurer of the Village Hall Committee and for many years independently examined the PCC (Church) accounts.
- The Trustees approved the appointment of Jonty Gethin, along with the FY24 accounts, by email exchange 8-Feb-25.
~ Mr Gethin is independent, as he is not a trustee of The Weekite Fund, nor an Old Weekite. He has not received a fee for this examination.
~ Mr Gethin's report is below and we are pleased to note his findings.
‘On behalfof The Weekite Fund
one: 4 (2/25
By: James Savage
Rote: Trusteeof TheWeekite Fund
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Report of the independent Examiner ‘ have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any materiatrespect: ----—-- ----- —--—-- ---—--- ---.- ---- = ST rere ini 1 accounting records were not kept in respect of the Trust as required by Section 130 of the Charities Act 2011; or 2. the accounts do not accord with those records. ‘aveenable no a proper concerns understandingand have comeof the accountsacross no other to bematters reached.in connection with the examinationto which attention should be drawn in this report in order to i ~ soe Date: 2) | a ( Lo Name: Jonty Gethin Addsess: Plough Cottage, Ashmansworth, Hampshire
rT
The Weekite Fund Registeredcharity no, 801210
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|Page|2|of|2:|Finencial|Statements|
|OLD|WEEKITE ASSOCIATION|Statement|of Income|&|Expenditure|Y/e Sth|Apri|
|Life subscriptions|
|Dinner|tickets|sara-|aesés|
|DonationsLegacies|>|-|
|41,400|-|
|41,400|:|
|Expenditure|
|Surplus|for|year|41,400-|(640)(640)|
|Fund|:|
|Brought forward|13,115|13,755|
|Surplus for the year|41,400|(40)|
|Net Assets - represented|by loan to|The Weekite Fund|54,515|13,115|
|WEEKITEFUND|"Statement|of|income &|Expenditure|Vie5th April|
|Incoming Resources|FY24|FY23|
|come|retainedin investment|4,946|4,285|
|‘Net incoming resources|7,241|5,625|
|Other recognisedgains|and|tosses|
|Unrealised gain on investment|Assets|2,627|{7,365}|
|Fund|balance b/f|141,785|144,025|
|WEEKITE FUND|Balance Sheet|wotes|05-Apr-24|———|05-Apr-23|
|investments|at|market value|1|124,594|137,021|
|COIFCashCharities Deposit|Account|33,580|31,285|
|at|Bank|(Lloyds)|—————-|47,994|6,594|
|Net Current|Assets|27,058|24,764|
|Net Assets|-|Unrestricted|Funds|[| _3sues2|«dai,|
|M&G|05-Apr-24|05-Apr-23|
|COW|Charifund|307.00|Accumulation Units|7,203|*|94,347|90,458|
|COIF|Charities|investment Fund|937.22|income|Units|6,000|19,150|17,539|
|*|Charities|Short Duration Bond|Fund|9,024.25|income Units|11,000|11,097|9,024,|
|Cost|before reinvestment of income|24,203|124,594|117,021|
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