REGISTERED CHARITY NUMBER 1001255 The Mary Elizabeth Siebel Charily Report of the Trustees and Financial Statements for the year ended 31 October 2025
The Mary Elizabeth Slebel Charlty Contents of the Financial Statements for the Year Ended 31 October 2025 Page Ito5 Report of the Trustees Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activlties gto14 15
The Mary Eliiabeth Slebel Charity Report of the Trustee5 foi the Year Ended 31 October 2025 The Trustees present their report and Financial Statements for the year ended 31 October 2024. The Financial Statements have been prepared in accordane with the accounting policies set out on pages 9 and 10 and comply with the Charity's scheme and applicable law. REFERENCE AND ADMINISTRATIVE DETAIIS Registered Charity Number 1001255 PRINCIPAL ADDRESS 3 Middlegate Newark Notts TRUSTEES The trustees who served during the year and at the date of this report together with details of the trustees a(Ivi50rs are set out below Mrs Sarah Watson Collinghawn Notts Miss Jean Moore Newark Notts Canon Elizabeth Rose Southwell Notts DrAlan Garrow Harston Lincs resigned Dec-24 Mrs Frances Kelly Mr Robert 8eall Mrs Danusia Sawoscianik-murray Drjane Selwyn Independent Examiners AcSS Accountants Millgate Newark Collingham Notts Newark Nott5 Newark Notts Sibthorpe Notts appointed Bankers HSBC Market Place Newark NG24 IEQ Solicitors Tallents 3 Middlegate Newark NG24 IAQ Clerk to the Trustees Sarah Allen Solicitor 3 Middlegate Newark NG24 IAQ Investment Advisers Brewin Dolphin Olympic House Doddington Road Lincoln LN6 3SE Page I
The Mary Ellzabeth Siebel Charity Report of the Trustees forthe Year Ended 31 October 2025 STRUCTURE GOVERNANCE AND MANAGEMENT Governing Document The Charity is constituted by the will of Mi55 Florence Siebel dated l February 1979 and a Codicil dated 9 August 1979. Mi55 Siebel died on 18 May 1990 and probate was granted on 22 August 1990. In her will she directed thet the charity be known as The Mary Elizabeth Siebel Charity in memory of hef mother. Recruitment and appointment of trustees. The will directed that 6 Tru5tee5 be appointed. to include representative5 of various organisation5. This was subsequenty varied by a Charity Commission letter116.6.20001 to allow the Trustees to make appointments to fill vacancies. Once appointed Trustes remain in office until resignation or disqualification. Meeting are held every 2 months at which the trustees agree the broad strategy and areas of activity for the Charity to include grant making. investment policyi re5erve5 and risk. The day to day administration of the Charity is dealt with by the Clerk, together with her team who process and handle applications prior to the Trustee meetin8s. The Trustees keep the Skill requirements of the Board undei review arbd where a vacancy arises. look to recruit successor with appropriate skills and knowledge. Induction and training of new trustees New trustees have an initial meeting Wheb¥ the history. constitution and aims of the Charity are explained. They are then invited to observe at a Trustee meeting, before being formally appointed. They also recelve coples of the latest Trustee Report5 and Financial Statement5. Risk Management The Trustees have a duty to manage risk. Er15uring that appropriate controls are in place to provide reasonable assurance against error or fraud. The Trustees have exmined the major strategic business and operational risk5 which the Charity faces and conflrm that systems are in place to minimise those risks. Page 2
The Mary Elizabeth Siebel Charltv Report of the Trustees for the Year Ended 31 O¢tober 2025 OBJEcfivES AND ACTIVITIES Objectives and Activitie5 for the public benefit. The objects of the Charity are to provide benefits financed from the income ofthe permanent endowment for People over 60 years of age who are ill and in need of Support to adequately look after themselves and who reside within a 12 mile radius of Newark Town Hall. The trustee5 are particularly keen to support those who wish to continue to live in their own home, but not to the exclusion of others who are in need. The charity 15 able to support other institutions provided funds made available to them are used in a manner consistent with the objerts of the Mary Elizabeth Siebel Charity. The trustees confirm they have referred to the guidance contained in the Charity Commission's general Euidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. Grant making Grant application forms are available from the Charity offices shown on page l of this report. Completed forms are to be sent to the Secretary to the trustees at the offlces and the Assessor employed by the Charity then arranges to vlsit the appli¢ant and reports to the Trustees. who consider the grant Èpplication at the Trustees meetin& normally held every two month5. The Charity is also promoted through local area Doctor5, surgerie5. Voluntary and Social Services as well a5 the local press. local radio and the Charity's own website. ACHIEVEMENTS AND PERFORMANCE Charitable Activities The Trustees consider that the performance of the Charity this year has been satisfactory. The Statement af Financial Activities indicates net incoming resources on the Unrestricted Fund of £7,992.12023 net incoming - £14.466.1 There were net outgoing resources on the Permanent Endowment Fund of £24,85312023 - £23,776.) Before taking into account gains and losse5 on Investment Assets. Page 3
The Mary Elizabeth Slebel Charlty Report of the Trustees for the Year Ended 31 Ortober 2025 ACHIEVEMENTS AND PERFORMANCE Charitsble Activitles contlnued Investment income from dividends was £108.73112023 - £110,157.) Total grants payable in the year were £64,575 to Ind5vlduals and £nll to InstitlonsI2023 £60,277 to Individuals and £nil io Institutions) The Charity supported 41 grants to individuals12023 - 451 The balance of Unrestricted Funds at the year end was £25.215. Fundralslng Actlvltles The Charity does not actively fundr4i5e and 5eek5 to continue the philanthropic work through the careful stewardship of its existing as5etS. Investment performance. The Charity has appointed investrnent advisers to assist in the management ofthe investment5. The Charity is relaint on its income from Investrnents. The investment income is broadly received from stock exchange investments and securities, as well as bank interest . The Trustees have full and unrestricted power5 of investment and intend that the real value of their assets be maintained and enhanced over the longer term. The policy of the Charity wntinyes to be the prudent management of the Charity as5et5 to provide funds to finance the Charity objects. the Trustees have appointed qualified professional advisors as detailed on page I to manage the investments. The security investments are managed by RBC Brewin Dolphin on a discretionary management basis. The Trustees do not wish to invest directly in tobacco or armaments or companies that are guilty of exploitation of child labour. The portfolio consists of equities, property investments and bonds. The current stock markei portfolio oblective 15 for a balance between income and capital growth with a medium risk preference. The portfollo looks generally sound and well balanced. In the year to 31 October 2024, the time weighted return was 14.62% Overall gains and losses on sale and revaluation of securities amountirbg to a gain of £501,263.12023- loss £47.461.} was added to the permanent endowment fund. page 4
Thè Mary Elizabeth Siebel Charity Report of the Trustees for the Year Ended 31 Ortober 2025 FINANCIAL REVIEW Reserves Policy Permanent endowment The sum of £4.056,606 is held in Permanent Endowment for the provision of income for the Charity. Investments representing the fund may be changed from time to time, but cannot be distributed to the beneficiaries. Unrestricted fund The balance of the Unrestricted Fund account at 31 October 2024 was £25,215 the Trustees seek to maintain a balance on this fund suffKient to finance expenditure and grant payments where liming differences arise between the ceipt of major income funds and anticipated expenditure The balance of the fund 15 also dependant on the Magnitude of grant applications which vary from time to time. t is not uncommon for the Trustees to sanction individual large grants. The average value of grants awarded in the year to 31 October 2024 was £1.575. The Trustees meet bi-monthly and consider it prudent to hold the equivalent of two payment cycles In reserve to cover trends in income and expendlture. The average amout distributed to individua15 at each meeting in the year to 31 October 2024 was £10,762. These funds held in reserve are sufficient to permit the Charity to continue in operation and the nature and the management of its investments provides a firm basis for the future. Approved by order of the Board of Trustees on and signed on its behalf by Trustee page 5
independent examiners report page 6 page 6
The Mary Ellzabeth Siebel Charity Statement of Financial Activities for the Year Ended 31 October 2025 3111012025 3111012024 Unrestricted Endowment Funds Fund Notes INCOMING RESOURCES Income Income from Investments 105.578 105,578 111,003 RESOURCES EXPENOED Expenditure Investment management costs Charitable activities Grants payable support Costs Governance costs 26.312 26,312 24.853 49,836 27,811 14,095 49,836 27,811 14,095 64.575 25,579 12,857 Resources expended 91,742 26,312 118,054 127.864 NET INCOMINGI(OUTGOING) RESOURCES 13.836 -26,312 -12.476 -16,861 Other recognised gainsllosses Gainsllosses on investments Equalisation5 Net movement in funds 515,057 515,057 501,263 1.601 486,003 13.836 488,745 502,581 RECONCILIATION OF FUNDS Total fund5 brought fonmard 25,215 4,056,606 4,081,821 3.595,818 TOTAL FUNDS CARRIED FORWARD 39,051 4,545,351 4,584,402 4.081,821 page 7
The Mary EIIz3beth Siebel Charity Balance Sheet At 31 October 2025 3111012025 3111012024 Notes FIXED ASSETS Investment5 4,526.224 3,997,637 4,526,224 3,997,637 CURRENT ASSETS Debtors Cash at Bank 466 73,007 73.473 780 106,166 106,946 io CREDITORS Amounts falling due within l year li -15.295 -22.762 NET CURRENT ASSETS 58,178 84,184 TOTAL ASSETS LESS CURRENT LIABILITIES 4,584,402 4,081,821 NET ASSETS 4,584.402 4,081,821 FUNDS Unrestricted Funds Endowment Funds 13 39.051 4,545.351 25.215 4,056.606 TOTAL FUNDS 4,584,402 4,081,821 page 8
The Mary Ellzabeth Slebel Charily Notes to the Flnènclal Statements for the Year Ended 31 October 2025 I ACCOUNTING POLICIES General information As set out in the Trustees report, The Mary Elizabeth Siebel Charity is an unincorporated charity registered in England & Wales. The registered office of the Charity is 3 Middlegate Newark Nott5. The principal objective5 of the charity are to provide benefits financed from the income of the permanent endowment for people over 60 years of age, who are ill and in need of support to adequately look after themselves and who reside within a 12 mile radius of Newark Town Hall. The board of Trustees is aware of the need for the charity to provide public benefit and has paid due regard to the general guidance published by the Charity Commission relating to public benefit. Accounting convention The financial statements have been prepared In accordance wlth the Accountlng and Reportlng by Charities= Statement of Recommended Practice applicable to charities preparing their account5 in accourdance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFR51021 (effective l January 2015) - (Charities SORP IFRS10211, the Financial Reporting Star)dard applicable in the UK and the Republic of Ireland IFRS1021 and the Companies Act 2006. Key judgement5 and estimations The preparation of the financial statements requlres management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed aThl are based on experience and other factors, including expectations of future events that are believed to be reasonable nder the circumstances. Accounting estimates and assumptions are made concerning the future, and by their nature, will rarew equal the related actual outcome. Incoming resources All incoming resource5 are included in the Statement of Financial Resources when the charity is leEally entitled to the income and the amount can be quantified wwlh reasonable accuracy. Voluntary income and donations are recorded as they are received. Legacies are recorded when the charity is certain that it is entitled to receive the legacy. pa8e 9
The Mary Ellzabeth Slebel Charity Note5 to the finantial Statements for the Year Ended 31 October 2025 I ACCOUNTING POLICIES continued Resources expended Expenditure is accounted for on an accrual basis and has been classified under heading5 that aggregate all cost related to the category. Where COSt5 cannot be directly attributed to particular headings they have been allocated to activities on a basis con515tent with the use of resources. Investment management costs comprise those costs attributable to investment incorne which are charged to the unrestricted fund and those that are considered to be attributable to tapitèl which are charged to the Permanent Endowment Fund. Charitable Activities support t05ts include the proportion of general solicitors, fees considered to be applicable to Charitable Activities and the a55e550r's salary and expenses, general insurance, postage. stationery other marketing costs. Governance costs relate to the general running of the Charity as opposed to those costs assDciated with the investment management and charitable activities and include the costs of compliance with the Charity Act requirements and the proportbon of general 501icitors' fees onsidered to be applicable to governante cost5. The allocation of solicitors. fees is 60% to the general running of the Charity and 40% to Governance costs. Stockbrokers. fees are charged 100% to Pennanent Endowment Fund. Taxation The Charity is exempt from tax on rt5 tharitable activities Fund accounting Unrestricted fund this is a general fund and is free for use in accordance with the charitable objects. Permanent Endowment Fund - this represent5 the original fund Passed to the Charity by Mis5 Siebel's will in 1979. Income arising passes to the Unrestricted fund, the Capital can be Changed from time to time, but cannot be distributed. Going concern - No material uncertanties exist. Cash flow statement - Is not prepared as the exemption in SORP 102 permits. page 10
The Mary Elizabeth 5iebel Charity Notes to the Financial Statements for the Year Ended 31 October 2025 3111012025 3111012024 2 INCOME FROM INVESTMENTS Dividends and company interest received Bank Interest Donations 103.599 1.979 108.731 2.272 105,578 111,003 3 INVESTMENT MANAGEMENT COSTS Portfolio management 26,312 26,312 24.853 24,853 4 TRUSTEES REMUNERATION AND BENEFITS No trustees remuneration, nor benefit5 nor anv expenses were paid to the trustees in either the year ended 31 October 2023 nor 2022 5 STAFF COSTS Wages and salaries 2.357 2.152 The average number of monthly employees during the year wa5 6 KEY MANAGEIVIEKf PERSONNEL No remuneration was paid to any Key Management Personnel 7 RELATED PARTY TRANSAcfioNS There were no related party transaction that requlre dlsclosure. page 11
The Mary Elizabeth Siebel Charity Notes to the Flnancial Statements for the Year Ended 31 October 2025 8 FIXED ASSET INVESTMENTS LISTED STOCKS AND SHARES MARKET VALUE At l November 2024 Additions Disposals Revaluation5 and gains At 31 October 2025 3,997,637 1.159,103 -1.145,573 515,057 4.526.224 NET BOOK VALUE At 31 October 2025 At 31 October 2024 4,526,224 3,997,637 There were no investment assets held outside the UK The historic cost of the Fixed Asset Investments at 31 October 2024 was £3,359.942. 12023 £3,174,494.) Additions are recorded at cost, disposals are shown at market value brought forward from the previous year, or cost if purchased during the year. page 12
The Mary Elizabeth Siebel Charity Notes to the Financial Statements for the Year Ended 31 October 2025 3111012025 3111012024 9 DEBTORS: AMOUNTS FALLING DUE WIYHIN ONE YEAR Prepaid insurance 466 General Permanent Endowment Total Funds Total Funds IQ CASH AT BANK Brewin Dolphin Capital Brewin Dolphin Dividend HSBC Money Manager Account HSBC Cuirent Account 26,069 26.069 7,839 410 38,689 73,007 65,911 9,190 403 30,662 106,166 7,839 410 38,689 46,938 26.069 11 CREDITORS . AMOUNTS FALLING DUE WITHIN ONE YEAR Grants authorised but unpaid Taxes and Nl Other creditors Independent examiners fees Tallents admininstration fees 5,466 189 240 4,400 5,000 15,295 14.291 71 480 3,400 4,520 22,762 12 ANALYSIS OF NET ASS5 BETWEEN FUNDS Unrestricted Endowment Funds Funds Total Fund5 Total Fund5 Investments Current assets Current liabllities 4.526,224 4.526.224 3.997.637 26.069 73.473 106.946 -15,295 -22,762 4.552,293 4,584.402 4,081.821 47.404 -15.295 32,109 page 13
The Mary Elizabeth Siebel Charity Notes to the Flnanclal Statements forthe Year Ended 31 October 2025 13 MOVEMENT IN FUNDS Net movement in funds At 1.11.24 At 30.10.25 Unrestricted funds General Endowment funds Permanent Endowment fund TOTAL FUNDS Net movement in funds. included in the above are as follows: 25,215 13,836 39,051 4.056.606 4,081.821 488.745 4,545.351 502,581 4,584,402 Incoming Re50urce5 Gains resouces expended and losses Movement in funds Unrestricted fund5 General Endowment funds Permanent Endowment fund -26,312 TOTAL FUNDS 105,578 -118,054 Comparatives for movement in funds 105.578 -91,742 13.836 515.057 515,057 Net 488.745 502.581 movement in funds At 1.11.23 At 30.10.24 Unrestricted fund5 General Endowment funds Permanent Endowment fund 3,578,595 TOTAL FUNDS 3,595,818 Comparative net movement In funds, included in the above are as follows: 17.223 7.992 25.215 478,011 4,056,606 486,003 4,081,821 Incomlng Resources Gains resouces expended and k)sses Movement in funds Unrestricted funds General Endowment funds Permanent Endowment fund TOTAL FUNDS page 14 111.003 -103,011 7.992 -24,853 111,003 -127,864 502,864 502,864 478,011 486.003
The Mary Elizabeth Siebel Charity Detalled Statement of Hnanclal Actlvltles for the Year Ended 31 October 2025 3V1012025 3111012024 INCOMING RESOURCES Dividend5 and Company interest received Interest t)onations TOTAL INCOMING RESOURCES RESOURCES EXPENDED Investment management costs Portfolio management 103.599 1.979 108.731 2.272 105,578 111.003 26,312 24,853 26.312 24,853 Charitable activities Wages Insurance Stationery and 50ftware Marketing and website Sundries Solicitors fees - Administration Grants to insEttutions Grants to individuals 2.357 1.386 324 3.024 1.076 19.644 2,152 1.043 432 3,648 478 17.826 49,836 77,647 64,575 90,154 Governance costs Independent examlners fees Sollcltors fee = Account5 and compliance 1.000 13.095 14,095 118,054 -12.476 972 11.885 12,857 127,864 .16,861 TOTAL RESOURCES EXPENDED Net lexpenditurellincome before gains and losses Realised and unrealised gains and11055e51 on fixed asset investments 515,057 501,263 Net income / Ilossl for the year 502.581 484.402 Thi5 page does not form part of the statutory financial statements page15