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REGISTERED COMPANY NUMBER: 10429312 (England and Wales)
REGISTERED CHARITY NUMBER: 1171404















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD
1 JANUARY 2023 TO 30 JUNE 2024

FOR

WELFORD FAMILY TRUST

WELFORD FAMILY TRUST






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6

Notes to the Financial Statements 7 to 10

WELFORD FAMILY TRUST

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024



TRUSTEES A W Welford
Mrs D M Welford


REGISTERED OFFICE Manor Stables
Beech Road
Oxhill
Warwickshire
CV35 0QE


REGISTERED COMPANY
NUMBER
10429312 (England and Wales)


REGISTERED CHARITY
NUMBER
1171404


INDEPENDENT EXAMINER TC Group Limited
Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ

WELFORD FAMILY TRUST (REGISTERED NUMBER: 10429312)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 January 2023 to 30 June 2024. The trustees have adopted the provisions of 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 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objectives of the charity are:

1. To advance the Christian faith in accordance with the Charity's statement of faith;
2. To relieve those in need, hardship or distress of any kind;
3. To advance education in accordance with Christian Principles;
4. To fulfil such other charitable purposes as the trustees think fit.

Significant activities
Grant applications are by invitation from Welford Family Trust Trustees only.

Public benefit
The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

Volunteers
The trustees wish to thank all of the volunteers who support the charity.

ACHIEVEMENT AND PERFORMANCE
We have set a policy for giving to projects that we determine. Applications will be invited by the Trustees and no uninvited requests will be considered.

FINANCIAL REVIEW
Investment policy and objectives
The Charity's memorandum and articles of association authorise the trustees to invest or deposit funds as may be thought fit.

Reserves policy
As we are a grant giving trust from a cash fund no reserves policy exists. We will gift from available cash in line with the grant application process.

Financial performance
The net deficit for the year was £37,110, comprising total incoming resources of £Nil, total resources expended of £37,648 and unrecognised gain on investments of £538.

Total funds at the year end were £929.

FUTURE PLANS
Our hope is this fund will grow and we can assist in line with our objects given the policy referenced above.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
Trustees are appointed in accordance with the Articles of Association.


WELFORD FAMILY TRUST (REGISTERED NUMBER: 10429312)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
It is the charity's policy that new Trustees undergo an orientation process to brief them on their legal obligations under charity law, the charity's governing documents, the committee decision making process, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events that will assist them in carrying out their role.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 4 October 2024 and signed on its behalf by:





A W Welford - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WELFORD FAMILY TRUST

Independent examiner's report to the trustees of Welford Family Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 1 January 2023 to 30 June 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I 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.








Mark Bullock FCA

TC Group Limited
Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ

4 October 2024

WELFORD FAMILY TRUST

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

Period
1.1.23
to Year Ended
30.6.24 31.12.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - 31,250

EXPENDITURE ON
Charitable activities
Charitable activities 37,648 76,958

Net gains/(losses) on investments 538 (2,472 )

NET INCOME/(EXPENDITURE) (37,110 ) (48,180 )


RECONCILIATION OF FUNDS
Total funds brought forward 38,039 86,219

TOTAL FUNDS CARRIED FORWARD 929 38,039

WELFORD FAMILY TRUST (REGISTERED NUMBER: 10429312)

BALANCE SHEET
30 JUNE 2024

2024 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments 5 - 16,910

CURRENT ASSETS
Cash at bank 1,679 21,879

CREDITORS
Amounts falling due within one year 6 (750 ) (750 )

NET CURRENT ASSETS 929 21,129

TOTAL ASSETS LESS CURRENT
LIABILITIES

929

38,039

NET ASSETS 929 38,039
FUNDS 7
Unrestricted funds 929 38,039
TOTAL FUNDS 929 38,039

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.


The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 4 October 2024 and were signed on its behalf by:





A W Welford - Trustee

WELFORD FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 June 2024 nor for the year ended 31 December 2022.


Trustees' expenses

During the period, expenses totalling £nil (2022: £nil) were reimbursed to Trustees for expenses incurred on behalf of the charity.


WELFORD FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

3. STAFF COSTS

During the year the average number of employees was £nil (2022: £nil).

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 31,250

EXPENDITURE ON
Charitable activities
Charitable activities 76,958

Net gains/(losses) on investments (2,472 )

NET INCOME/(EXPENDITURE) (48,180 )


RECONCILIATION OF FUNDS
Total funds brought forward 86,219

TOTAL FUNDS CARRIED FORWARD 38,039

5. FIXED ASSET INVESTMENTS

There were no investment assets outside the UK.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Accruals and deferred income 750 750

7. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 30.6.24
£    £    £   
Unrestricted funds
General fund 38,039 (37,110 ) 929

TOTAL FUNDS 38,039 (37,110 ) 929

WELFORD FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

7. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund - (37,648 ) 538 (37,110 )

TOTAL FUNDS - (37,648 ) 538 (37,110 )


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 86,219 (48,180 ) 38,039

TOTAL FUNDS 86,219 (48,180 ) 38,039

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 31,250 (76,958 ) (2,472 ) (48,180 )

TOTAL FUNDS 31,250 (76,958 ) (2,472 ) (48,180 )

Unrestricted funds
The unrestricted funds represent the free funds of the charity, which are not designated to any particular purpose.

8. RELATED PARTY DISCLOSURES

During the year, donations of £36,700 (2022: £72,500) were paid to Nicodemus, a charity of which AW Welford and Mrs DM Welford are trustees.


WELFORD FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

9. STATUS OF THE CHARITY

Welford Family Trust is a company limited by guarantee not having any share capital.