| The Weekite Fund
Registered charity no. 801210 Annual Accoun’ for independent examination and submission to the Charity Commission
Page 1 of 2: Reports of the Trustees and the Independent Examiner
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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 currently split roughly 50% equities, 5% fixed income, 45% cash. - This appears consistent with the Fund's long-term aims of capital appreciation while retaining sufficient liquidity. For the reasons outlined below, at the year-end date the cash weighting was higher (than the historical trend of 25%). The Trustees intend to review the asset allocation in the coming months.
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- Looking ahead, we see the potential for an increase of calls on the fund as the impact of fee increases is felt in the parent body. - Further information regarding the Fund and its Trustees can be found in the Annual Return.
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Requirement for Accounts preparation FY24 and FY25 - 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 had annual income less than £10,000. - In FY24 it received a legacy from an Old Weekite for £41,400 (paid from executors’ solicitors, TLT LLP), received 11-Jan-24. Therefore for the accounting period ending S-Apr-24 it was required to submit annual accounts for the first time.
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- In this accounting period of FY25 further payments were received: £28,125.63 on 1-Nov-24 and £41.56 on 11-Nov-24. As a result the Fund is required to submit annual accounts again in FY2S as income is greater than £10,000. Furthermore, income in both years is greater than £25,000 threshold, so independent examination is also required. In FY26 we expect income to revert to below the £10,000 level at which it has trended over the last twenty years.
Independent examination - As noted above, in FY25 the Fund's income exceeded £25,000 so accounts have been prepared and they have been independently examined. - 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 FY25 accounts, by email exchange 2-Feb-26. - 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 behalf of The Weekite Fund
By: James Savage Role: Trustee of The Weekite Fund
Report of the independent Examiner
| have completed my examination. The examination included a review of bank statements, investment statements and supporting accounting schedules maintained by the trustees. 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Charities Act 2011; or
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the accounts do not accord with those records.
| 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. panes U(-_| VO Name: Jonty Gethin Address: Plough Cottage, Ashmansworth, Hampshire
The Weekite Fund AnnualRegisteredAccountscharityprepared no. 801210for Independent examination and submission to the Charity Commission
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|Page|2|of|2:|Financial|Statements|
|OLD|WEEKITE|ASSOCIATION|Statement of Income & Expenditure|Y/e Sth Aprit|
|FY25|FY24|
|Life|subscriptions|:|7|
|Dinner|tickets|i|2|
|Donations|.|2|
|Legacies|28,167|41,400|
|28,167|41,400|
|Expenditure|(4)|-|
|Surplus|for year|28,163|41,400|
|Fund|
|Brought forward|54,515|13,115|
|Surplus for the year|28,163|41,400|
|Net|Assets|- represented|by loanto|TheWeekite Fund|82,678|54,515|
|THE|WEEKITE|FUND|Statement of Income & Expenditure|Y/e 5th April|
|Incoming Resources|FY25|FY24|
|interest &|Dividends received|2,516|2,295|
|Income|retained in investment|5,508|4,946|
|Total incoming resources|8,024|7,241|
|Direct charitable expenditure|-|=|
|Net incoming resources|8,024|7,241|
|Other recognised|gains and|losses|
|Unrealised gain on|Investment Assets|4,028|2,627|
|Net movement|in funds|12,052|9,868|
|Fund|balance|b/f|151,653|141,785|
|Fund balance c/f|163,704|151,653|
|THE|WEEKITE|FUND|Balance Sheet|Notes|FY2S|FY24|
|Fixed|Assets|
|Investments at market value|1|134,129|124,594|
|Current|Assets|
|COIF Charities Deposit Fund|36,096|33,580|
|Cash at Bank (ioyds)|76,156|47,994|
|112,253|81,573|
|Loan from Old|Weekite Association|(82,678)|(54,515)|
|Net|Current Assets|29,574|27,058|
|Net Assets|- Unrestricted Funds|163,704|151,652|
|1 - Investments|Cost|Market value|
|31/03/25|31/03/24|
|M&G Charifund|307.00|Accumulation|Units|7,203||104,487|94,347|
|COIF|Charities Investment Fund|937.22|Income|Units|6,000|18,258|19,150|
|COIF Charities Short Duration Bond|Fund|9,024.25|Income Units|11,000|11,385|11,097|
| Cost before reinvestment of income|24,203|134,129|124,594|
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