OSCR REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FOR WILLIAM ADAMS, TRUST OAKSHAW TRINITY CllLIRCH Azets Audit Servi8 Charter¢d A¢¢ouD¢ant Ststhtory Auditor TjtaTRiU[ I Kitig's knch Pl Rcnfrcw Cl&sgow PA4 8WF
WILLIAM ADAMS, TRUST OAKSllAW TRif41TY CHURCH CONTENTS OF FtNANCIAL STATEMENTS FOR TUE YEAR ENDED 30 SEFfEMBER 2024 Pi8e Report of the TrllsteeB Report of the tndependent AudltOfA StatemeDt of Flnu¢l•l A¢dvld¢i BAianee Shoot Notes to the Fln8nel81 Stitementi 10 to 16
WILLIAM ADAMS, TRUST OAKSHAW TRINITY CHURCH REPORT OF THF. TRUSTEE FOR THE YEAR ENDED 30 SEFfEMBER 2(124 Th¢ trustees present their aTmual tntstees, report with the fuwicial statements of the charity for the year ending 30th S¢pt¢mb¢r 2024. The fiDun¢ial 8tat¢m¢nts comply with the Charities and Tntstse Inve8lnKnt (scotld) Act 2005, the Chariti&8 Accounts (Scotland) Regulation$ 2006 la$ gmended). its governing document and Reporting by Charities: Statement of R0mended PCtice applicable to charities preparlng their accounts in accordance with the Financial Reportin Standard applicable in the UK and Republic of Ireland (FRS 102). OWEC'TIVES AND ACI'IVI'I'ILS Objectives and aimi The Trust was establishe4J followin8 the death of Willian)s Adams in 1903. Inilial fund8 were allented by furth transfer5 following thc dcaths of thos¢ origiually rntiLled to b¢n¢fits during their lifeiime. Tern]s of thc origiD41 bequest have been amended and cxtcnd¢d by ¢y-PT¢14 soh¢mu and by OSCR arrangement. The Lurrenl tums arc th¢ assistance of children and meinbcT3 of Oakshaw Ttinity Chur¢h d¢¢m¢d iti need, the pmotion of its youth orwisations and the maintenance of its building8. As515tan¢¢ lo tho$¢ in n¢¢d ¢an be afforded morc widely, particularly ¢0 th08e ssociated with chuh in the lo] pr¢•b)W. ACHIEVEMENT AND PERFORMANC Ch8rltable 8Ctlvltlei During the year benefit8 w¢r¢ p4id to thos¢ children deemed to be in need and payrnenls including re8Plte ¢8T¢ made to the elderly members of the congregRiion, including me Ttulttts. Activity and accornmndation ciK8ts were met on behalf of th¢ youth organi.sa¢iolls and a ¢ontribuLion made towards the fabric ryairs to church buildings. FI14ANCL REVIEW RerVeS ptyllry The Trustees pursue a ptslicy of reviewing the amounts and caieBories under which expenditur¢ is illauTa. Th¢ Inves¢t portfolio li on¢ of medium risk and a quarterly report is received from the profassionil advisers. FUTURE PLANS The TTU8tee8 will maintain the nawre and scope of expenditure under review. PTofe8sional advi¢¢ will be wh¢r¢ ¢onsidered appropriète. S'I'RUC'I'URE, GOVERNANCE AND MAI¥AGEMLN'r GovernlnR dt)cllment The chlty is ¢ontrolled by its RoverninR documen4 a deed of tr$t ond eon8titutes att unill¢orpornEed ¢lwity. and &overll#lleE arr4Tr%ernents Qrants ur¢ d¢trLinincd by the Ttustecs whcn submission e made. Urgent action can be initiated when rtquir¢d. Su¢h action is r¢portd to the next mect]ng of the Trttst. REFERENCE AND ADMINISTL4TIVE DETAILS Re¥i8ter¢d Charlty number SC003861 PaB¢ I
WILLIAM ADAMS, TRUST OAKSHAW TRINITY CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ELYDED 30 SEPTEMBER 2024 Trustees The Trustees of the Williatn Adan, Trust are appointed by the Kirk Session of Oakshaw Trinity Churcb, Paisley. Auditors Azets Audii Services Chartered A¢count&nt Statutory Auditor Titanium I King's Inch Place Renfrew Glay8OW PA4 ¥WF Bankeri Bank of S¢otlgnd The Cro88 Paisley PAI IDB Investment ad>lgor8 Brewin Dolphill Stockbrokers 12 Smitltheld Street London ECIA 911D Me&vs MSM. Solicitors act Y15 the trust Bretary and treasurer. STATEMENT OF TRUSTEES, RESPONSIBILrriES Thc tru5ltt8 orc Te5w>n5ible for preparing thc Rcport of the Trnstees and the flnancial ststements in accordance with pplicablc I and Uniicd Kingd(mL AGcountiti8 Standards tunitcd Kitlgdom Gencrally AGGCPtcd A¢¢owitill8 Practice). The l&w applxcthble to charities in Scotland, the chltieS alld Tnjstee ]nve8th)ent (Scotland) Act 2005. Charitie8 Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's Constitutio requires the UStees to prepare fLnanGial statcmcnts for each fllwicial year which 8ivc a trnr &nd fair view of the slate of affairs of the charity and of the incomin8 resources and application of ttsources. ill¢ludin8 the income and expenditure. of the charity for that lOd. In preparn8 those fmanciAI sthtements. the thjstees are required to select suilable accountin8 policies and then apply them consistently* obSee the meth(xts and principles in the Charity SORP: make jud¥¢ents. dnd ¥stillVdtrs thai are rcabonablc ¥nd pnMkn(' prept the fanCIal 5tatBments on thc goin8 concern b&sis unless it is inappiopriate to presuTDe that the charity will contiDuc ill bu5iiiess. The tNstees are responsible foT keeping proper accouniing records whi¢h disclose with reasollable accuracy al any time the fingncial position of the charity and to enable them to ensure thai the fmancial statements comply with the Charitie& d TTUStee Jnvestment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charlty'g Cottstithtion. They are also responsible for safeguarding the assets of the chatity and hence for takins reasonable steps for the prevents.on and detection of fraud and other Iegul1ties. Page 2
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEFfLMBER 21124 ApprDved by onler of the IKiard of tnL8tees OD 19 June 2025 and Sign on its bebalf by: PAge 3
REPORT OF THE II¥DLPENDENT AUDITORS TO THE TRUSTEES OF WILLIAM ADAMS, TRUST OAKSHAW TRINITY CHURCH Oplnlon We Itave awdiied the fjnancial statements of WilliaDJ Adam5' Trust Oakshaw Trinity Church (the 'cl)ari) for the year ended 30 September 2024 which comprise the Sent of Financial Aciivities, Ihe Balance Sheei alld notes to the fman¢ial statemen14 in¢luding a summary of SAgnificant a¢¢ouDtllig policies. The fuwicial r¢portin8 frarnework thai h&$ Ixen applied in their preparati¢)n is applicable law and UDittd Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢ountDig Pradi¢¢}. In our opiniL>n the finBJKial ststements.. give a true and fair view of the srate of the ¢hatiWs affairs as at 30 September 2024 and of its inc¢)ming tEsource8 and application of resource& for the year then ended; have been properly prepared m accordance with United Kingdom Generally Aceepied Accounting Practice.. and have been prepared in accordance with the requirnnents of the Charities and Trusiee Investment (Scotland) Act 2005 and Regulation 8 of th¢ Clwiti¢s Accounts IS¢odand) Regulotions 2006. Basls (Dr oplDlon We conducd our audit in aeeordance with Ini¢malional Stsndard5 Qn Audiling (UK) (ISAS IUKI) aThl 4ipplicttbl¢ 1¥4W. Our responsibilities undti. those standards further th$crib¢d in th¢ Auditor5, 311)SIbIlItIeS for the audit of thc fmaAcial statement$ 5¢¢tion of our report. We ar¢ ind¢p¢nd¢nt of th¢ ¢huity in a¢cord&nce with the ¢thI1 re4Uirtmernts thAt ar¢ r¢l¢v8nl lo our audit of th¢ finan¢i415tyt¢mcnts in th¢ UK, inoludin8 the FRC'S Ethical Stpndgrd. and we have fulfilled our oth¢r ¢thi¢al r¢sponsibiliti¢s in aGwrdan¢¢ with th¢5¢ r¢quir¢m¢nlS. W¢ believe that the audit evidellee we have obtained is sufficient and appropriate to provide 4 ba8is for our opitiion. Concluslons relAtln8 to 8oln8 coneerD In Auditing the fit)fincial $t8temeni.8, we have concluded that th¢ trustees, u&¢ of the Roin8 eortcern blS (trf acco178 in the prq)aration of the fts)2ncial statements is appmpriate. Based on Ihe work we hmve perfornial. we hdve not identifKbd any material unuertainiies relating to event¥ ur Londitions Ihat, individuully Dr GullcLtivvly, may Layt si¥nifiLllllt doubt thc Lhariiy's abilily Io LOlI(inur a ¥uin¥ LollLetn (or a period of 8t leasi twelye months from when the fancIal statements are authorised for ille. Our responsibilities and thc responsibiliti of the trnstees with rcspeet to going ¢oA¢ern Are dcseril)cd in tho relev¢ 8ections of thi8 report. Other Inf•rm•tlo The tNstees are responsible for the other infomiation. The other infomiation cofflpri$es the infonnation ineluded in the Amiual Re]x)rt, other than the f]nancial statemertt8 and our Report of the Independent Auditors thereon. Our opinion on the financial stsoments does no¢ Cover the other infomiaiion and, ex¢eN io the extent otkrwi8e expli¢itly ststed in our repory w¢ do not express any forni of assuran¢¢ conclusion theieon. In ¢orm¢¢tion with our audit of th¢ finon¢ial statcm¢nts, ow responsibility is to read th¢ other inforniation and, in doing so. considcr wheth¢r the oth¢r inforniation is mat¢rially in¢onsislcnt with th¢ fmancial stat¢m¢nt8 or ow knowlcdgc obtaincd in th¢ audit or oth¢rwi8¢ apar$ to k matuially rni53tat¢d. If w¢ idcntify such matcrtal in¢onsI5tcl¢s or apparent mEterial mi85tatemeDts. we are required to d¢t¢nnille whether thi8 8iV¢8 to B mjtorial rni55tatemont in the financial stateTnents themselves. If, b&sed on th¢ work wc hav¢ p¢rf¢)rni¢d, we ¢on¢lude thai th¢r¢ is a m4t¢rial misstalemertt of thts othcr llrfoThati(>n, we are required to re that fa¢t. W¢ knv¢ nothing to r¢port in thi5 r¢88rd. Mxtterl whlth we are requlred to report by exeeption We have nothing io report in re%pect of the following matters where the Charitiu A¢¢ounts (S¢otland) Regulations 2006 requires us to report to you if, in our opinion: the infomiation given in the Report of the Trusiees LS ineonsist•il in any tnai¢rial respect with the $tai¢mellL¥', or proper accoullting records have not bt¢ll k¢pL' or the fanCIal $tatements not in agre¢m¢nt with the ¢01¢18 re¢ords and retums" or we have not received all the iDforrnation and expianatiODS we require for our audit. Page 4
REPORT OF THE INDEPENDENT A[1DORs TO THE TRUSTEES OF IVILLL4M ADAMSI TRUST OAKSHAW TRINITY CHURCH RwtsDilbllitl¢¥ of trnstees As explained more llY in the Statement of Tntees, ResponsibilitiK the Se8 are respoDsibl¢ for the preparallon of the finan¢ial stht¢ments which Rive a tsve and fair Yiew, and for sucb intnl Golltrol as the trustees determin¢ is necewy to ¢nabl¢ th¢ prtIon of finan¢ial st&temellts that are free from IDa¢i#l mi$8t&tsmenL whetber dug lo In prcparing the r)DanGial ststcm¢nty th¢ tystre$ are res}81b]e for a&se8sing tho Gharity$ ability to con¢inu¢ r4 going conccrn. disclosing. as applicable, Tn&tters related ts going concern 4Dd u8ittg tho going ¢ollc¢rn bo8AS of accounting unl&gs tho ISteeS either intend to liquidate the cherity or to ce&8¢ ¢)P¢TatioDs, or have no reojistic a]tern&tive but to do 80. Page 5
REPORT OF THE INDEPENDENT All)oRs TO THE TRUSTEES OF wtLLIAM ADAMS, TRUST OAKSHAW TRINITY CHURCH Our responslbllldes for the audlt ofthe ¥taterneDts W¢ have beell appointed as auditors under SKiion 44(1){c) of tbe Chatities and Trustee Inv&stment (Scotland) Act 2005 ad rqKprt in accotdancc with the Act and relevant regulations nde or having effect thereunder. Our objectives are to obtain reag)nable assurance about whether the financial sratemeots as a whole aTe free from ni#i¢rial mi58tatemettt, whether due to frAud or ¢m>r, al to issue a Report of the Independen¢ Auditors that includes our opinion. Reasonable a8surnJce is a high level of assurdnce, but is not 8 guarantee thai an audit conducted in ac¢ordance with ISAS (UK} will WayS detect a rnaterial misstatement when it exists. MisstateEllents can arise from fraud or error and are eoxjsidered material if, indivAdually or in the aggregate, they could Teasonably be expected to influence the economie decisions of users tsken on the basis of these f]n8nci&l statements. Our objectives are to obtsin reasonable Èssurance About wbether the fmancial statements as a wholc arc free from materigl misstaiemeni. whether due tt) fraud OT error, attd to issu¢ an auditovs report that includes OUT opinion. R¢asotfdble &8surance is a high level of assurdnce but 18 not a guarath¢¢ thai an audit ¢onducted in accordance with ISAS IUK) will always dec( a material misStatcm¢nt wh¢n it cxists. Misstsi¢m¢nts tan arise from frdud or error and ar¢ con5idercd m&t¥riAI if, individually or in ihe aggr¢gat¢, th¢y could 59ablY be expected to influence th¢ economic als1oS of users thken on the basis of these fullncial SL¢ments. Extent to whlch the audil was ¢ODsid¢r¢d ¢¥p8blo of deleetlng 1rrc2ul4rltic&, includlng fraud Irregulariti4s, including fraud, aT¢ in5tsn¢¢¥ of non-compli#nce with laws athd regulations. We design procedures in line with our resp(Trnsibiliti¢s. outlined above and on the Financial ReFK)rting Councilts website, io detect materiol misstslem¢nls in r¢sp¢¢t of iTr¢gulariiies, ineluditi8 fraud. We obtain and updAte our understAndin8 nf the enfity. its aclivitie.s, ILS conlrol envir()nm¢nt, and likely future developments, including in relation to ihe legal atjd regulatory framework applicable and how fh¢ ¢ntiiy is complying with that framework. Based on ihis understanding, we identify and assess the risks of material rni55luiement oc thc r]n8mcial statements, whether due to frdud or ern)i. design and perfumi audil proccdur¢ti &POns1Ve lo those risky, and Ob]n Mudit ¢videnG¢ ihal is ¥U]C]ent ld appropriale to provide a basis for our opinion. This in¢ludes consideration ofihe risk of a¢ts by the enlity that were contrary to applicable laws and Te8ulation5, including fraud. The cxt¢nt to whi¢h our pr<)eedur&8 are e4)able of detecting irre8uIArities. including fr4ud is d¢tyil¢d below.. In response to tho Ti8k of irregularities artd non-¢ompli8nce with hws and regulations. including frau4 we desiBned procedures which in¢luded:. Enquiry ot mHn8serneAt and thoge charyed with 8overnance aTDund actual and ponti lilltill and ¢l&im8 as well as actual, sw4pected and Alleged fraud; Reviewing minut¢s of m¢dings of thos¢ charged with governan¢e,' Assessing th¢ ¢xtcnt of ¢¢)mplimce with the laws and regulauoThs Considered to have Y4 diNt rn4terial ctTe¢t on ihe thc fllmncial stat¢m¢nts or th¢ 0tionS of the company through enquiry and iD5pe¢lion' REYirwing flnancial slal¢m¢nt dis¢losur¢s Bnd trstitL8 to 8UPPtinillg do0entatIOn to 4S8¢S5 Gompliajhce with applicable law5 and rcgulatioD5,' Pcrftsrniing audit work ovcr th¢ risk of rnan&gcm¢nt biB5 and override of controls, including te8ting of journal cntrics and othor 4djustmMt8 for appropriolenc&s, cvllluatll the business r8¢tionale of Significant transactions outsid¢ Ihe nornial ¢gur8¢ of busitie%s al rEviewirt8 accounting e8timate8 for indicators of potential bias. Because of th¢ llther¢ni limitation$ of an audit, there is a risk that we will rrt)t detect all trregularities, including those leading lo a malerial misstalernent in the financial 5taiements or non-campliance with regulation. 'I'his risk increL the mnre that compliance with a law or re8ulatiotJ i& removed from the events and Iransactions rCflCct in th¢ fmancial statement$. a4 we will be less likely to become aware of xnsiances of non-compliance. The risk of t d¢tecting a rnaierial mi5Staternenl re$ultiJJg from fraud is higher ihan for one resulting from eor. a5 fraud may inYolv¢ wllusion. foTgery, inientional omi55ions. misreprtsentatLDIIS. or the uvvrride olinternal ujiiirol. A further deription of our responsibilities for the audit of the financial statements is located on the Financial Reporting Coun¢il's w¢b51te at www.frc.or8.uklauditorsresponsiTrJtlities. This d&ription fornis part of OUT Report of the Independent Auditors. Pag¢ 6
REPORT OF TUE LYDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAM ADAMS, TRUST UBe of our report Thi5 report is made solely to the charlS stee$, as a body. in a¢¢ordall¢e with Regu]atii)n 10 of tbe Chiti&l Accouots (Scotland) Regu]&tions 2(KJ6. Our audii WOTk bas b¢ ulld¢rtak¢n so that we n)ight stste to the charitys tTU8tee5 thase matters we are rwuiied to state lo th¢m ill an audityTh' r¢port and for no otber purw8e. To tbe full¢st extent M]itt by law. we do t accept or a&sum¢ rcspoD8ibility to anyonc o¢b¢r thatt th¢ Qhtirity alld the charity'8 tntee$ as a body, for our audxt work, for thiy reporL or for th¢ opillions w¢ bavc fornid. Auts ALAd,Tr Li& Aztts Audit Services Chartered AccountsDt StatOry Audiiur Titanium I Kin8's Inch Place Renfrew Glasgow PA4 8WF Date.. 19 June 2025 Page 7
WILLJAM ADAMS, TRUST OAKSUAW TRINITY CHURCH STAfkMLNI OF FINANCIAL ACTIVITIES FOR THk YEAR ENDED 30 SEPTEMBER 2024 2024 Total fimds 2023 Total Unrcstrithd liestricted funds Notes INCOME AND ENDOWMENTS FROM Donations and l¢sleS 9.697 9.697 8,919 Oth¢r trading a¢tiviti¢$ tnv¢strnent inGom¢ 479 97.925 Tot*1 107 622 107 622 107 515 EXPENDITURE ON Raisiti8 fiJnd9 17,759 17,759 25,445 Cbaritable Actlvltle8 Alimentors Athnini8tration 132.194 960 l32.194 960 116,IN5 960 To(Nl 150 913 150913 142 450 Net 8ain8 OD inve8ttnents NET INCOME 451.650 451,650 99,(kSl RECONCILIATION OF FUNDS Total brou8ht forwArd 3,578,172 3,578.172 3,479,111 TOTAL FUNDS CARRfED FORWARD 4 029 822 4 029 822 3 578 172 The notes fornL part of tbese fin8n¢ial statemellts Pag¢ 8
WILLIAM ADAMSI TRUST OAKSHAW TRlTy CHURCH BALAIYCE SHEET 30 SEPTEMBER 2024 2024 2023 Notes FIXED ASSETS Investments 3,964,835 3523,364 CURRENT ASSETS Cash in hand 87,813 74,467 CREDITORS Amounts falling thie within one year (22,826) (19,659) NET CURREIYT ASSETS TOTAL ASSETS LESS CURRENT LtABILITIES 4,029.822 3,578,172 NET ASSETS 4.029.822 3 578.172 FUNDS Unrestricied fud8 4 029 822 3 578 172 TOTAL FUF4DS 4 029 822 3 578 172 The fin4nciHI stst•ments were approved by the BoArd of 1'rnsteeA and authorised for iR8ue on 19 June 2025 and were Si£Ded on its bebalf by: The notrs forni part of these finamcia] statem¢llts P4g¢ 9
WILLIAM ADAMS, TRUST OAKSHAW TRLNITY CHiJRCH NOTES TO THE FINAliCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTLMBER 21124 ACCOUNTII¥G POLICIES Basls of preparlng the finthnclal statementj Basls of preparaOn The financial stsiement5 hav¢ bc¢n prcpaTed in accordancc with Accounting and Reporting by Charities: Statement uf RecumIncnded PrdCtic¢ applicablc to Charitics pr¢paTing their aOUnt$ in aecordonce with the Financial Reporting Standard applicable in the UK and R¢public of IreloJ)d (FRS 102) (effective l January 20191- (Charities SORP (FRS 102) and the Financial Reporiing Standard appli¢Jbl¢ in the UK and Republic of ireland IFRS 102). The Wi]liam Adam's Ttust meets the d¢finition of a public benefit entity under FRS 102. Assets and liabililies are initially recognised at historical wst or transaction value unles4 otherwise stated in the relevant acc4)unLI policy note(s). PropRratlDn of Ateounts on A golng ¢on¢ern bas18 The tnLStces coTr8ider that there are no material uncenainties aboui th¢ ihariiy's ability to conlinu¢ os a going oncern. Therc were no significant are45 of adjustment and with resy¢ct 10 the next reporting period. no significant areas of un¢¢rtainty. AccovntiDK jlldgemtrtl8 & Source& of estlmotlon uncertAlnty In preparing thesc fancIal sthtemcnts, tho tTU5tces have made the followitig judgements.. Assets are considered foy indications of impainnenL If required an impairnient review will be caffied r>ut and decision made on po55ible imp&imient. Fa¢tots taken into considerati¢)n irt reaching such YI decision include the economic viability aTJd expected linArtcial rertorn)an¢e of the aqset and where it is a ¢omponeTr( of a larger ca5h-generaling unit, the viahility 4nd expecied Djr£ perforn)artce of that unit. Flnanclal reporlin8 8taDdHrd 102- redu¢ed dlscloBure exempllons The chariiy tsk¢n advantage of the follvwin¥ dibLlosure empl10n in pr¢parinB these financial statements, as pemiiitcd by FRS 102 The FinanLial R¢poriin8 Stanthrd applicable in th¢ UK &nd Republic of lrtland,: the requir¢m¢ii¢S of Section 7 Statcmenl of Cash r.lows. Income All income is T08n18d IA the Statement of Financial Activities once the charity has entitlement to the futtds, it is probabl¢ that the Income will be r¢¢eived and the amount can Er megswred reliably. Interest ¢)n fvnd$ held on derrf)sii 18 included when rtteivable and the amount can be measured religbly by the charity. this 18 nomally upon nolification ()f Ihe intercsi paid or payabl¢ by the bank. Dividend5 r81$ed once le dividend has been declared and no¢ifi¢ation has been received of Ihe dividcnd due. Ttlis is nonnally upon notification by our investhient advisor of ¢h¢ dividend yield ofihe inv¢8lmcnt portfolio. Expendlture Expenditure is r¢¢ognised once ther¢ is a l¢gal or conslTh¢tive obligation to make a payment to a third party, it is probable that $ettlerncnt WAII be required and the amount of ib¢ obli8alion can be measured reliably. Expenditt¢ 18 cl8ssificd under the following activity heading& - Costs of raising fimds comprise portfolio m8llaBement costs ExpenditUTe on charitable activities in¢ludes the costs of activities undertaken to rther the purposes of the ¢harAty and their associated supp)rt costs. - Other expendilure represents those items not failine ittto any other heading. Irrecoverdbl¢ VAT is charged as a c051 again th¢ activity for which th¢ Thd1tre was incu]Ye Page 10 continu¢d..
WILLIAM ADAMS, TRUST OAKSHAW TRt4lTY CHURCH LYOTES TO THE FINANCIAL STATEMENTS - eontinved FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLJCIES - continued Expenditure Allo¢tlon of Support eosts Support L05t5 ar¢ thth%c fiCtionS that assisi the work of the chariry but do not direcuy undertake charitsbl¢ 4clivitics. Supp)rt costs include governance costs whiLh iAbludr thuse u)sts assoiiatrd with merlAng th¢ eonslitulional and statutory r¢quircmcnt of thc chLty. These costs have becn alk)cat¢d to cxp¢ndIttC on chari&bl¢ tiviti¢S. Taxtlo The charity is exempt from tax on its charitable activities. Fund *¢¢ountln8 Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trwtees. Restricted funds caD onty be used for partiwlar r¢8irict¢d purp95¢$ within tbe obje¢ts of the ¢harity. Restrictions dri when specified by the donor or when funds gr¢ raised for porticul r¢stri¢i¢d purp Inv¢rtmellt Inv¢stmcnt3 are included at mark¢t valuc at thc year end. The SU4)h or defi¢it on revaluation 1$ in¢knded in th¢ St4tcmcnt of FinAncial Aclivities as on unrcaliscd 8ain or loss. Gain5 and 1085¢8 on dispoBoI and revaluation of investrnents are chArged or credited to the Ststem¢nt of Financi41 Aclivities. Caih gt bgnk and hgnd Cash at bank and cash in hand include5 Cash and .8hort teTm highly liquid invegunents with a ahort Marity of thrne months or I¢s8 fTom the date of acquisiiion or opening of the dep)sit OT similar account. Credltoro and provlgloD8 Creditors and pn)visions are regnIsed whcrc the charity has a presenl obligation resulting from a past event that will probably result in thc trdnsf¢r of funds to a third pany and the amouni due to srttle the obli8tttion can bc mSUrcd or estimat¢d reliably. Creditors and provisions are nornllY reco8nl8ed at their settlemeni amount after allowing for any dis¢ounts due. Hlre purehaie And le#8ill8 eommltmeDI$ Rentals paid under OPEr&iin8 leases are charged ¢0 the Stat¢m¢nt of Fina181 A¢tivitie5 on a straight line basis over the period of the lease. Impalrm¢Dt of Asfjets The Lompany ¢lwt¢d to apply the provisions of Seciion I l Basic Financial Instnllnents, and Section 12 ' Othcr Fimoncial In&trumenLs 1ssu¢s' of FRS 102 to ail of its fujancial instruments. Finan¢ial instNmettts are reeognis¢d in the company5 balance sheet when tl]¢ Company becomes pty to the contrActual provisions of the iD$trum¢nl. Financial assets and liabilities are offset. with th¢ net amounts pres¢nt¢d in the fanCial staternents, when there is a le8ally enforceable right to set off th¢ re¢ognis¢d wnounts 8nd th¢ is intention to settle on a net basis or to realise the asset and settle the liability $imult8nwu51y. Basic financial assets, which include debtors and cash and bank balance8, are initially measured at transaction price including transactions costs and are sub5equendy carried at Hmortised ¢o$t U8ing the effective interest tuethod uDless the attangelllellt C0115titutcs a financing traSacti(, where the transaction is measured at the present value of the future receipts th'scounted at a market rate of interest. Financi asset8 ¢lassifi¢d as reccivable within one y¢ar are not amorti5ed. Page 11 continued..
WILLIAM ADAMS TRUST OAKSHAW TRJNITY CHURCH NOTES I'o 'fHE FIIYAI¥CIAL STATEMENTS- eoDdnued FOR"lllE YEAR ENDED 30 SEVTEMBER 21124 ACCOUNTING POLICIES- tolltlnued ImpalTlll¢llt of 158ets ere nition of fin Financial assets are (kre¢OBtt only wh¢n thc rontr8¢bJal rights to the cash flow8 from the a58et expire or ore scttled. OT when th¢ compaoy transfers thc fllwi¢io1 a$8et and sub8lalltially all the risks and rewards of 0ryship to anothcr entity, or if some signifi¢Jnt ris and rewards of ownerthip are retained but control of the a&4et has transferred to another porty tha¢ is able to g¢ll the asset in its entir¢ty to art unrelated third paty. Financial liabilithes and equity instNments are classified oceording to the substsnce of the contr4¢pJal arrangements entered into. An equity instrnment is any contra¢1 that evidences a residual interest in the &ss¢ts of the cornparhy after deductin8 all of its liabilitics. Basic fujancial liabilitittl, in¢ludinB crrdilors, are initiaily Rcognisd at traAsaction pric¢ unl¢s$ th¥ arrang¢rnent conslltuies a fioancing transaetion, where tile debt instn]mcnl is measured at tb¢ pr¢s¢nt valu¢ of the fvturo payments discounted at a rnarkn rate of interest. FinanciY41 liabilili¢5 ¢14ssified ag payabl¢ witbin otte yeor ar¢ not amortis¢d. OTHER TRADING ACTIvrriES 2024 2023 Elderly benefits refund 479 LYVESTMENT INCOME 2024 2023 Fixed a8set invegthienis RAISING FUNDS Inveitment mAng¢ment ¢0 2024 2023 Portfolio tnanag¢uKut sirrpoRT COSTS Govern¢* C05ts Managcmcnt Totals Alimentors Administration 86 1.950 960 2,036 960 86 Pag¢ 12 continu¢d...
IITLLIAM ADAMS, TRUST OAKSUAW TRINITY CHiJRCH NOTES TO TUE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31J SEPTEMBER 2024 TRUSTEES, REMifNKRATION AND BENEFrrs Ther¢ r¢ no tntte, reJDull¢rati¢)n or other benefiLS for the year cnded 30 Sepiemb¢r 2024 nor foT the y&qT cnd¢d 30 September 2023. Tr•ste¢s' ¢xpense Ther¢ W¢Te no trustees, ¢Kp¢nKs paid for the year ended 30 September2024 nor for th¢ year cnd¢d 30 S¢pt¢mber 2023. COMPARATIVES FOR THE STATEMKNT OF FINANCIAL ACTtVlT Unrestricted nds Restricled fund8 Total nds INCOME AND ENDOWMENTS FROM Donatioos and ]egleS 8.919 8.919 Other trading a¢tivitie8 Investment income 479 479 107$15 107 515 LXPKNDITURE ON Raising timds 25,445 25,445 Charltable actIdeS Alimcntors Athninistratio 116,(h15 960 116,045 960 Total 142 450 142 450 Net gains on investments 133996 NET INCOME 99,061 99.061 RECONCILIATION OF FUNDS Total funds brou8ht forward 3,479,I I I 3,479,111 TOTAL FUNDS CARRIED FORWARD 3 578 172 3 578 172 Pe 13 C4Jntinued...
WILLIAM ADAMSI TRUST OAKSHAW TRII¥ITY CHiJRCH NOTKS TO THE FINANCIAL STATEMENTS - ¢oDtillued VOR THE YEAR ENDED 30 SEFfEMBER 2024 FIXED A&SET INVESTMENTS Sold at valuc at 1.10.2023 value At 30.09.2024 value Revalued Investment fund 3 523 360 419 927 3 964 835 3 523 360 857 48 419 927 3 964 835 Th¢ historic 3t of th¢ abov¢ inv¢$tmertts at 30th September 2024 werc £3.6J1,764 {2023 - £3,733,087). At 30th s¢plnb¢r 2024 the portfolio was invested as follows.. 2024 2023 UK Equity sh8r¢s 8nd UDlt Trnsts UK Cjovernment Bonds Global F.quily Funds 869.877 112.600 2 982 358 794,434 108.341 2 622 585 3 964 835 3 523 360 At 30th September 2024 the followin8 investh)eni8 represent more than 5% of the portfolio by maTket value.. Markei Value Fidelity UCITS ICA 277,717 The Trust's inve8tmen¢s are prof10411Y m8n48¢d by Bttwin Dolpbin. CREDrroRS: AMOUNTS FALLllYG DUE Tll4 OF4E YEAR 2024 2023 Other creditors Accrued expen8e8 18,206 16.179 io. ANALYSIS OF NET ASSETS BKTWEEN FUNDS 2024 Total fidS 2023 Totsl funds Unr¢stri¢trd Re$trl¢ted ruttds bjnds vestments Current assets Current liabilitie8 3.964.835 87,813 22 826) 3,964,835 87,813 3,523.364 74,467 4 029 822 4.029,822 3 578 172 Pag¢ 14 ¢ontiniied...
WILLIAM ADAMS, TRUST OAKSItAW TRINITY CHURCH IYOTES TO TUE FINANCIAL STATEMENTS- continued FOR THE AR EI¥DED 311 SEPTEMBKR 2024 ii. MOVEMENT IN FiJNDS Nct nwvcment in funds At 1110123 At 3019124 Ullrestrlcted fu11 Gcneral fill 3,578,172 451,650 4.029,822 TOTAL FUNDS 3 578 172 451650 4 029 822 Nd MoVent in funds. included in thc above are as follows.. Incoming resources Resources expended Gaill8 and losses Mov¢m¢nt irt funds Unrestrl¢ted fundi GeeThI fijnd 107,622 {150,9L31 494,941 451,650 TOTAL FUNDS 107622 150913) 451650 Cfympgr*tlvei for movejnent In fvnds Net movement in funds At 1110122 At 3019123 Unrutrl¢ted fuod• General fimd 3,479.111 99.061 3,578,172 TOTAL FUNDS 34791LI 3 578 172 Comp4rativ¢ net movement in funds, included in the above arc follows: In¢oJlliDg re8ouree8 Resource 8xpettd Gains and Ios8es Mov¢ment Unre$tri¢ted funds General fund 107.515 1142.450) 133.996 99,061 TOTAL FUNDS 107515 142 450 133,996 99,061 Page 15
WILLIAM ADAMS, TRUST OAKSHAW TRINITY CHURCH NOTES TO THE FINANCIAL STATEMENTS- conthilled FOR THE YEAR ENDED 30 SEPTEMBER 2024 ii. MOVEMET4T IN Fuf4DS- CDDtiDued A curnt year 12 months and pior yeaT 12 montlL8 combined p)8ition 18 &8 follows: Net At 1110122 movernerLt At 3019124 UDre8tri¢ted General fund 3,479,111 550,711 4.029.822 TOTAL FUNDS 3.479.1 I I 550711 4 029.822 A current year 12 mo))ths PTior year 12 month8 eOrnblld net movement in funds, included in the above are &q follows: Incoming resource$ Re80urce8 Gal and expcnded losses Movenhent in fund8 Unreitrlcted fundg G#nerMI fid 215,137 (293 J63) 628,937 550,711 TOTAL FUNDS 215 137 293 63 550711 12. RELATED PARTY DISCLOSURES There were no relad paty trnn8actioAg for the year ended 30 September 2024. Pa8e 16