Charlty Registration No. SC031378 (Scotland) THE CHARLES & BARBARA TYRE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE CHARLES & BARBARA TYRE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Governors Charlty number (Scotland) SC031378 Prlnclpal address The Old Surgery School Road Tarbert Argyll PA29 6UL Audltor Henderson & Company Dunoon PA23 7NA Bankors Bank of Scotland 78 Argyll Street Dunoon Argyll PA23 7NH Inve8trnent adv180r8 Evelyn Partners No 5 Boolhs Park Chelford Road WA16 8GS
THE CHARLES & BARBARA TYRE TRUST CONTENTS Page Governors, report Statement of Governors, responsibilities Independent auditor's report Statement of financial activities Balance sheet Notes to the financial statements 10-18
THE CHARLES & BARBARA TYRE TRUST GOVERNORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Governors present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document "statutory Instrument 1979 No. 496 IS.49)" made up on 23 April 1979, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts {Scotland} Regulations 2006 (as amended) and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financgl Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectlves and actlvltles The Governors may in each financial year award grants of such annual value as they think fit to assist applicants of eilher sex.. 1. to obtain qualifications additional to a degree, associateship, diploma or certificate of a University or other institute of further or higher education already obtained, 2. to train in a trade or profession other than Ihat in which they are at present trained., 3. to undertake a course provided by the Open Universily for which they have registered or are about to register., 4. lo undertake training in leadership and initiative., 5. to benefit from recreative holidays in cases of physical or mental disability, whether permanent or lemporary. INhen awarding grants, the Governors sh811 satisfy themselves that the applicant is a Protestant, has completed school education but is not at the time of the award more than 25 years of age, and is ordinarily resident within Ihe area of the former County of Argyll. The Governors have paid due regard to guidance issued by the Office of the Scottish Charity Regulator in deciding what activities the Trust should undertake. Achlevements and performance During the year under review, the Trust awarded total grants of £15,00012024'. £8,000). Grants of £2,500 were paid to 6 (2024.. 4) individuals. Flnanclal revlew The results for the year are set out in the Statement of Financial Activities on page 7. The Trust has recorded deficit for the year, before investment gains or losses, of £4,94412024'. surplus £8,916). Including realised gains or losses the deficit was £5,36912024. surplus £6,450). The policy of the Trust is to hold sufficient funds to derive income such that the primary objectives can be fulfilled. Restricted endowment funds of £1,076,405 (2024.. £1,067,667) are held for this purpose. The Governors consider this level of funds to be reasonable. The Trust derives its income from dividends and inlerest arising from investments. The day-to-day management of the investments is delegated lo a stockbroker, who is charged with the twin aims of protecting the value of the funds and providing £32,000 of income to enable the Trust to award grants. For the year under review, this position was filled by Evelyn Partners. The Governors identify the risks which pertain to the Trusl and put in place suitable policies to mitigate these. The principal risks identified are financial and the risks arising from incorrect decision-making. Plans for future periods It is the intention of the Governors to continue to carry out the purposes of the Trust.
THE CHARLES & BARBARA TYRE TRUST GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and rnanagernent The Trust was established under the terms of the will of Charles Tyre and is governed by Statulory Instrument 1979 No. 496 IS.491. made up on the 23 April 1979. Th?. Jvp.riir)rs ivho *?fvLI(I cli 11111 lo Ilie clale of si 1131Liie o ncial statements were.. Under the terrns of the slalulory inslrumenl. the Governors will be persons whose experience will be of value in Ihe exercise of the functions laid down by the scheme. They are identified by advertisement and are appointed by Argyll & Bute Council. Terms of office are thre8 y8ars and the Governors may serve two terms. The day-to-day managernent o! the Charity is delegated to a Clerk and to a Treasurer. For the year ended 31 March 2025 these posts were filled by William Duncan IAr9yII} Ltd. Chartered Accountants, Tarbert. The Governors, report was approved by the Board of Governors.
THE CHARLES & BARBARA TYRE TRUST STATEMENT OF GOVERNORS, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The governors are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity governors to prepare financial statements for each year which give a true and fair view of the slate of affairs of the Trust and of the incoming resources and application of resources, of the Trust for that period. In preparing these financial statements, the governors are required to- select suitable accounting policies and then apply them consislently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject to any malerial departures disclosed and explained in the financial statements., and prepare the financial statements on a going concern basis unless il is inappropriate to presume that the Trust will continue in operation. The governors are responsible for keeping proper accounting records that disclose wilh 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 and Trustee Investment (Scotlandl Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the charity. They are also responsible for safeguarding the assets of the Trust and taking reasonable steps for the prevention and detection of fraud and other irregularities. The governors are responsible for the maintenance and integrity of the charity and financial information included on the Trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement to Audltors As far as the Governors are aware.. there is no relevant audit information of which the charity auditor is unaware., and Ihe trustees have taken all Steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. This report has been prepared in accordance with Ihe Statement of Recommended practi.. Accounting and Reporting by Charities IFRS 102). The law applicable to charities in England and Wales requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trusl and of the incoming resources and application of resources of the Trust for that year. In preparing these financial statements, the Governors are required to.. select suitable accounting policies and then apply Ihem consistently., observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
THE CHARLES & BARBARA TYRE TRUST STATEMENT OF GOVERNORS, RESPONSIBILITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Governors are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THE CHARLES & BARBARA TYRE TRUST INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE CHARLES & BARBARA TYRE TRUST Opinion We have audited the financial statements of the Charles & Barbara Tyre Trust (the 'Charity'l for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and the notes lo the financial statements, including a summary of 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.. give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of ils incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practic£', and have been prepared in accordance with the requirements of the Charities and Trustee Inveslment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scolland) Regulations 2006. Basls for oplnlon We conducted Our audit in accordance with Inlernational Standards on Auditing (UK) {ISAs (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls 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 FRC'S 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. Concluslons relatlng to golng concern In auditing the financial stalemenls, we have concluded that the Governors, use of the going concern basis of accounting in the preparation of the financial slatemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to evenls 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 al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report. Other Informatlon The Governors are responsible for the other information. The olher information comprises the information included in Ihe Annual Report of the Governors, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent olhemise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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.
THE CHARLES & BARBARA TYRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF THE CHARLES & BARBARA TYRE TRUST Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotlandl Regulations 2006 requires us to report lo you if, in our opinion.. the information given in the Governors, Report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responslbllltles of Governors As explained more fully in the governors, responsibilities statement set out on page 3, the governors 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 governors determine is necessary to enable Ihe preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenls, the governors are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the flnanclal 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, whelher due to fraud or error, and to issue an auditor's report that includes our 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 delect a material misstalemenl 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 oflhese financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oullined above, to delecl material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. is detailed below. In identifying and assessing the risks of material misstatements in respect of irregularities, induding fraud and non- compliance with laws and regulations we considered the nature of the charity, the sector il operales in and the charity's control environment. 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 such as the founding do[ment (Statutory Instrument 1979 No 496}, the Charities and Trustee Investment (Scotland} Act 2005, the Charities Accounts (Scotlandl Regulations 2006 (as amended), Ihe charity SORP 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 (FRS 1021 (effective 1 January 2019) and relerdnt UK Trust legislation. We assessed the extent of compliance with laws and regulations identified through maki ng enquiries of the Clerk and Treasurer, and where possible the Governors. We considered if there were any incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of bias and override of controls. To address these risks we performed analytical procedures lo identify any unusual or unexpected relationships, lested journal entries lo identify unusual transactions and assessed whether judgements and assumptions made in determining accounling estimates were indicative of potential bias. We reviewed financial statement disclosures and tested balances to supporting documentation.
THE CHARLES & BARBARA TYRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF THE CHARLES & BARBARA TYRE TRUST Extent to which the Audlt was considered capable of detecting irregularites includlng fraud Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. There are inherent limitations in our audit procedures described above. The more removed Ihe laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required lo identify non-compliance with laws and regulations to enquiry of the Governors and others involved in management and inspection of regulatory and legal correspondence, if any, Material misstatements that arise due lo fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al www.frc.org,uklaudilorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Parl 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees those mallers we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent perrnilled by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslees as a body, for our audit work, for this report, or for the opinions we have formed Henderson & Company Chartered Accountants Statutory Auditor 160 Argyll Street Dunoon PA23 7NA Henderson & Company is eligible for appointment as auditor of the Trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
THE CHARLES & BARBARA TYRE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restricted funds funds 2025 2025 Total Unreslricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Investments 32,073 32,073 32,879 32,879 Raising funds 7,364 7,364 6,861 6,861 Charitable activities 3&6 26,953 26,953 17,102 17,102 Total resources expended 26,953 7,364 34,317 17,102 6,861 23,963 Net gainllloss) on investments 10 1425) 1425} (2,4661 (2,466) Net Incomlnglloutgolng) resources 5,120 (7,789) (2,6691 15,777 19,327) 6,450 Other re¢ognlsed galns and losses Revaluation of investments 16,527 16,527 37,569 37.569 Net movement In funds 5,120 8,738 13,858 15,777 28,242 44,019 Fund balances at 1 April 2024 102,444 1,067,667 1,170,111 86,667 1,039,425 1,126,092 Fund balances at 31 March 2025 107,564 1,076,405 1,183,969 102,444 1,067.667 1,170,111 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE CHARLES & BARBARA TYRE TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Investments 1,176.252 1,149,383 Current assets Debtors Investments Cash at bank and in hand 12 14 259 26,225 5,561 11,426 9,319 20,745 32.045 Credltors: amounts falllng due within one year 13 (13,028) 111,3171 Net current assets 7,717 20,728 Total assets less ¢urrent liabllitles 1,183.969 1,170,111 The funds of the Trust Reslricled income funds Unreslricled funds - general Unreslricled funds - revaluation 1.076,405 110,697 (3,133) 1,067,667 105,577 (3,133) 1,183,969 1,170.111 The financial 51alemenls were approved by the Governors on . 27 l I. Ix•.LS.
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charity Informatlon The Charles & Barbara Tyre Trust is an unincorporated charity registered in Scotland. The registered office is William Duncan (Argyll) Ltd, The Old Surgery, School Road, Tarbert, Argyll. PA29 6UL. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern Al the time of approving the financial statements, the Governors have a reasonable expectation that the Trust has adequate resources to continue in operalional existence for the foreseeable future. Thus the Governors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslricled funds are available for use at the discretion of the Governors in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out In the note5 to the financial slatements. 1.4 Incomlng resources Income is recognised when the Trusl is legally enlilled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 1.5 Resources expended Expenditure is recognised once Ihere is a legal or constructive obligation to make a paymerst to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is all considered as expenditure on charitable activities and includes the cost of running the Trusl as well as grants. Grants payable are charged in the year when the offer is conveyed and a valid exFectalion created with the recipient that the grant will be paid. Any grants awarded and not claimed are recognised as refunds in the year they are not claimed. All costs are inclusive of irrecoverable VAT. 10-
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles (Continued) 1.6 Flxed asset Investments Fixed asset investments are initially measured at transaction price including transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditurel for the year. Transaction cosls are expensed as incurred. Realised gains and losses during the year are calculated as the difference beeen sales proceeds and the fair market value at the start of the accounting period. Unrealised gains and losses are calculated as the difference between market value at the year end and the market value at the start of the year as adjusted for purchases and sales. Gains and losses on revaluation or disposal are combined in the Statement of Financial Activities. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnanclal Instruments The Trust has elected to apply the provisions of Section 11 'Accounting for Financial Assets and Financial Liabilities of SORP FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party lo 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 sel 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. 8asic financlal 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 Iransaclion is measured at the present value of the future receipts discounted at a market rate of interest. Baslc 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 instrLJmenl is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or service5 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, Ihey are presented as non-currenl liabilities. Trade creditors are recognised initially at transaclion price and subsequently measured at amortised cost using the effective interesl method. Derecognition of financlal Ilabilities Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled. 11
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles {Contlnuedl 1.9 Grants The Governors award grants annually, as they think fit, to assist applicants of either sex who are Protestant, have completed their school education bul are nol at the time of the award more than 25 years of age and are ordinarily resident within the area of the former County of Argyll, to obtain qualificalions additional to a degree, associateship, diploma, or certificate of a University or other institute of further or higher education already obtained.. lo train in a trade or profession other than that in which they are presently trained,. to undertake training in leadership and initiative or to benefit from recreative holidays in cases of physical or mental disability, whether permanent or temporary. Grants are recognised as a liability as soon as they are approved by the Governors but are paid to successful applicants in instalmenls across the academic year, on receipt of salisfaclory evidence of continued attendance. 1.10 Funds structure Under the terms of the Charles and Barbara Tyre Trust Scheme 1979, set up by Statutory Instrument 1979, No. 496, the Trust has a single permanent endowment. The Governors are required lo invest the capital in perpetuity and to apply the whole of the free income of the Trust to the awarding of grants annually in accordance with note 1.9. Any such income not applied during the year shall be carried foNard and applied in the following year or may be added to the capital of the Trust. 1.11 Taxatlon The Trust is a charitable TrLJsI within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the Trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only. Income from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Income from listed investments Inlerest receivable 28,188 3,885 29,006 3,873 32,073 32,879 12-
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charitable activities Grant Awards 2025 Grant Awards 2024 Grant Awards 2024 Total 2024 Dlrect costs Grant funding of activities (see note 5) 15,000 8,000 (3,400) 4,600 Share of support and governance costs (see note 7) Support Governance 3,906 8,047 1,556 10,946 1,556 10,946 26,953 20,502 (3,400) 17,102 Analysls by fund Unrestflcted funds - general 26,953 20,502 {3,4001 17,102 Ralslng funds 2025 2024 Investment management 7,364 6,861 7,364 6,861 Grants payable Charltable Grants not actSvltles pald from prevlous & current year Total 2024 Grants to individuals 15,000 15,000 4,600 15,000 15,000 4,600 During ihe year under review, the Trust awarded total grants of £15,000 (2024: £8,000). Grants of £2,500 were paid to 612024.. 4) individuals. 13
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Governors None of the Governors (or any persons connected with them) received any remuneration during the year, and 3 oflhem were reimbursed £119 for travelling expenses {2024- 3 were reimbursed £301). Support costs allocated to actlvltles 2025 2024 Meeting costs Administrative costs Motor and Iravelling costs Governance costs 119 793 216 10,825 470 785 301 10,946 11,953 12,502 Analysed between: Grant Awards 11,953 12,502 2025 2024 Governanc8 Costs comprlse: Audit fees Treasurer's and Clark's fees 2,778 8,047 2,646 8,300 10,825 10,946 Support costs are all paid out of unrestricted funds and are allocated on the basis of actual costs incurred. Governance and support costs includes payments lo the auditors of £2,778 (2024.. £2,646) for audit fees. Employees There were no employees during the year (2024.. No employees). Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its charitable objects. 10 Net galnsl(losses) on Investments 2025 2024 (Loss)IGain on sale of investments (425) (2,466) 14-
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Flxed asset Investments Llsted Investments Cost or valuatlon At 31 March 2024 Additions Valuation changes Disposals 1,149,383 76,907 16,527 186,565) At 31 March 2025 1,176,252 Carrylng amount At 31 March 2025 1,176,252 At 31 March 2024 1,149,383 Foxed asset Investments revalued Fixed Asset Investments are slated at their market value as of the Balance Sheet date. If such investments were measured at cost, their base cost at the Balance Sheet dale would amounl to £705,847 (2024.. £720,536). 12 Debtors 2025 2024 Amounts falllng due wlthln one year: Other debtors 259 13 Credltors: amounts falllng due wlthln one year 2025 2024 Trade creditors Other creditors Accruals and deferred income 7,550 2,700 2,778 4,100 4,571 2,646 13,028 11,317 14 Current asset Investments 2025 2024 Deposils and cash 11,426 26,225 15-
THE CHARLES & BARBARA TYRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2024 Incomlng resources Resources At 31 March expended 2025 General funds Revaluation reserve 105,577 (3,133) 32,073 (26,953) 110,697 (3,1331 Prevlous year: At 1 Aprll 2023 Incomlng resources R8sources At 31 March expended 2024 General funds Revaluation reserve 89,800 13,1331 32,879 117,102) 105,577 (3,133) 16-
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