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← The Charity Service Limited

2025-03-31-accounts

The Charity Service Limited

Report of the Trustees and Audited Financial Statements for the year ended 31 March 2025

Registered Company Number (England and Wales): 02538910

Registered Charity Number: 1011293

Ashby Berry Coulsons Chartered Accountants Scarborough

The Charity Service Limited

Contents of the Financial Statements for the year ended 31 March 2025

Page
Reference and administrative details 1
Report of the Trustees 2 to 8
Report of the independent auditors 9 to 11
Statement of financial activities 12
Balance sheet 13
Cash flow statement 14
Notes to the financial statements 15 to 25

The Charity Service Limited

Reference and Administrative Details for the year ended 31 March 2025

Trustees R G Dyson (Chair) (resigned 14th November 2024)
E Wotherspoon (appointed Chair 14th November 2024) (appointed 22nd August 2024)
P A Chorlton
K A Graham
J Kiely
D E Newns
M S Ralph
K J Webster
P R Smith
I J Lownes (appointed 4th March 2025)
M Mokri (appointed 4th March 2025)
R D Nieri (appointed 27th February 2025)
Company secretary C D Mills (resigned 30th April 2024)
A Sheehan (appointed 30th April 2024) (resigned 30th September 2025)
L Drury (appointed 10th September 2025)
Address Jactin House
24 Hood Street
Ancoats
Manchester
M4 6WX
Registered company number 02538910 (England and Wales)
Registered charity number 1011293
Auditors Ashby Berry Coulsons Limited
Statutory Auditor
2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB
Bankers Unity Trust Bank
Nine Brindleyplace
Birmingham
B1 2HB
Investment advisers Castlefield Investment Partners LLP
111 Piccadilly
Manchester
M1 2HY

Page 1

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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) issued in October 2019. This report has been prepared to meet the requirements for a directors’ report required by company law and has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Structure, governance and management

The Charity Service Limited is a charitable company limited by guarantee. The charity is governed by its Memorandum and Articles of Association. It is also a Trust Corporation within the meaning of Section 68(18) of the Trustee Act 1925. The Board of Trustees has legal responsibility for the effective use of resources in meeting the charity’s objects and providing effective leadership and direction. The Trustees meet quarterly and additionally as circumstances require. The Board is committed to maintaining high standards in governance and regularly assesses compliance against the Charity Governance Code for Smaller Charities. All Trustees give their time freely. No Trustee has received any remuneration in either this or the preceding year. Trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest may arise. Responsibility for operational matters and the implementation of policy is delegated to the Company Secretary. Trustees are committed to creating a diverse board. Recruitment of new trustees is done openly. When a trustee vacancy arises, the role is advertised. Trustees encourage applications from all individuals regardless of age, gender, sexual orientation, disability, race, religion or belief. The Trustees work with the Company Secretary to select, interview and appoint suitable candidates. The board makes appointments according to relevant skills, competencies and experience, whilst also seeking to broaden trustee diversity. All new trustees receive an induction into the work of the charity. All Trustees, their families and business partners are related parties by definition. Any details of transactions with related parties are disclosed in the financial statements.

The Trustees would like to thank Richard Dyson for his contribution, as Chair of the Board of Trustees, to the development of The Charity Service over the last twelve years and wish him well in the future. The Trustees would like to welcome Eleanor Wotherspoon as the new Chair of the Board of Trustees.

Corporate trusteeship and funds held as trustee The Charity Service Limited acts as sole corporate trustee of three separate charitable trusts. Details of these charitable trusts are provided in Note 21. The accounts of these charitable trusts are reported separately. In its capacity as a corporate trustee, The Charity Service Limited holds investments on behalf of three charitable trusts. The investment assets for each trust are held in a separate portfolio.

Objectives and activities for the public benefit

As determined by its Memorandum of Association, the principal objects of the charity are ‘to benefit any charitable institutions or charitable purposes wheresoever the same shall be established by provision of advice and assistance’.

Page 2

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Objectives and activities for the public benefit- continued

The charity fulfils its objects in two main ways. Firstly, we provide a service to major donors who wish to manage their long-term charitable giving with a simple and cost-effective fund. We refer to these funds as ‘donor advised funds’ because we manage them on behalf of donors and make grants according to their wishes (providing that we have carried out all necessary due diligence checks and verified that the grants will be used for charitable purposes).

Secondly, we continue to manage various designated, restricted and charitable trust funds from which we make small grants to charities and community groups within the Greater Manchester area. We refer to these funds as ‘internally advised funds’ because decisions on whether or not to award a grant are made by a Grant Committee comprised entirely of the charity’s trustees. We operate an open grant application process for these funds.

The charity does not raise funds from the general public.

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and to the obligations placed upon us by Section 17 of the Charities Act 2011 and confirm that we have complied with the duty placed on us by this Act.

Achievements and performance

Our strategic goal is to promote philanthropy and empower impactful charitable giving. We do this by managing donor advised funds, which enable philanthropists to make significant donations to The Charity Service and then use these funds to support long-term charitable giving.

During the year ended 31 March 2025, the charity managed 15 separate funds, consisting of eleven donor advised funds and four internally advised funds. Eleven of these funds were operated as restricted funds of The Charity Service, one as a designated fund and three as separate charitable trusts. The details of the separate charitable trusts, of which The Charity Service is the sole trustee, are provided in Note 21 to the accounts.

The philanthropy advice service introduced in 2022/23 allows us to draw on our expertise in philanthropic strategy and grant-making to offer enhanced levels support to philanthropists, thereby helping them to achieve greater impact through their charitable giving.

2024/25 saw the establishment of our first international Donor Advised Funds facilitating grants to the Sharks Foundation in South Africa. Whilst we have a long history of facilitating international grants this is our first DAF focused entirely in support of a single overseas charity and we see potential growth in this area in the future.

The Charity Service supports a wide variety of charitable causes through its internally advised and donor advised fund, and the charitable trusts of which it is a corporate trustee. In the year ended 31 March 2025, across all these funds and trusts, the charity made 130 grants (2024: 147) with a total value of £1.8m (2023: £1.5m). The charitable causes supported by these grants are summarised in the pie chart below.

Our Greater Manchester Grants Programme has continued with a significant proportion of our grants being awarded to organisations and individuals in Greater Manchester. During 2024/25 we undertook the ground work for a new participatory grants programme in the region. This approach to grant-making aims to redress the power imbalance typically found between funder and recipient by devolving decision-making responsibility to those with lived experience of the problem the funding is attempting to solve. In our case, we are working in partnership with The Booth Centre, a Manchester-based homelessness charity, to develop a new grants programme with the design of the programme and decision-making made by people with lived experience of homelessness or housing insecurity. The benefits of this approach are manifold: as well as the direct impact of the funding on charity recipients, the committee members have huge benefits in terms of training, employability skills and confidence building.

Page 3

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Financial review

The financial outcome for the year and its impact on the charity’s funds are set out in the statement of financial activities on page 12. Total net expenditure for the year was £514,442 (2024: (£1,695,786)) with total income of £1,277,440 (2024: £3,337,312), which was achieved on the back of minimal fund fundraising expenditure of £14,651 (2024:£15,681). Grant-making activity increased to £1,791,954 (2024: £1,473,953), philanthropy advice and support increased to £83,554 (2024: £63,412). Total expenditure in the year was £1,890,159 (2024: £1,553,047). Although gains on investments amounted to £98,277 (2024: losses £88,479), investment funds are held for the long-term and are expected to recover their value over a full economic cycle.

As at 31 March 2025, total net assets amounted to £5,855,901 (2024: £6,370,341), comprising unrestricted funds of £136,498 (2024: £174,775) and restricted funds of £5,719,403 (2024: £6,195,568). Of the unrestricted funds, £119,397 (2024: £118,727) have been set aside and designated for grant-making, leaving £17,101 (2024: £56,048) in the unrestricted general fund.

Page 4

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Investment policy and performance

Under its Memorandum of Association, the charity has the power to invest funds not immediately required for charitable purposes. The charity’s investments are managed with the objective of generating the best financial return within an acceptable level of risk. For funds with a long-term investment horizon of more than 5 years, the investment objective is to generate a return of at least inflation (as measured by the Consumer Prices Index) plus 4% per annum after expenses. For funds with a medium-term horizon of between 3 and 5 years, the investment objective is to generate a return in excess of inflation (as measured by the Consumer Prices Index) after expenses. In the absence of any specific legal restriction in respect of spending capital or gains, the charity generally adopts a total return approach to investing, which means returns can be generated from income and capital gains or losses.

The charity pursues an ethical approach to investing to ensure that its investments do not conflict with its charitable aims and ethos, and the values of its donors and beneficiaries. The charity requires its investment manager to utilise negative screening to avoid investments in companies that derive more than 10% of their revenue or operating profit from:

The charity also encourages (but does not require) its investment manager to use positive screening to make investments that promote health and wellbeing, education and environmental sustainability.

Investments are placed with Castlefield Investment Partners LLP who specialise in ethical investment. The Trustees monitor investment performance on a quarterly basis by comparing total returns to an independently calculated benchmark comprising the investment portfolios of other charities with similar investment objectives and risk profiles. The Trustees are satisfied that adopting an ethical approach will not be detrimental to long-term financial returns. Indeed, it is the Trustees’ belief that socially and environmentally responsible business practices will generate superior financial performance over the long-term. An Investment Committee meets quarterly to monitor investment performance and to have strategic oversight over our investment approach.

Reserves policy

Charity reserves are funds that can be freely and readily spent on charitable purposes. They typically comprise unrestricted funds but exclude fixed assets and funds designated for specific purposes.

The charity aims to hold reserves at a level that manages financial risk and short-term volatility and ensures that financial commitments can be met as they fall due. Our reserves policy takes into account our 3-year financial plan and risk register. It also considers the risk of a significant unexpected fall in income, the risk of unforeseen and unavoidable expenditure, access to other sources of finance and the cost of meeting financial obligations if the charity is wound up. On this basis, the trustees assess that the charity requires reserves equivalent to at least 9 months of budgeted unrestricted expenditure, but not more than 12 months.

As at 31 March 2025, the level of reserves held by the charity was £17,101 (2024: £56,048), which represents approximately 3 months (2024: 9 months) of budgeted unrestricted fund expenditure for the next year. Trustees consider this level of reserves to be adequate because it falls within the parameters of the charity's reserves policy.

Page 5

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Grant-making policy

Grants are managed according to policies agreed by the trustees. One of two approaches is used, depending on whether the funds are donor advised or internally advised funds.

Donor Advised Funds

For donor advised funds, grants are paid to recipients nominated by the donors. In some cases, the charity provides assistance to help donors develop grant making strategy and select charities to support. Due diligence checks are performed on all grant requests to ensure funds are distributed in accordance with eligible charitable purposes.

Internally Advised Funds

For internally advised funds, the charity operates an open grant application process. Grants are paid to recipients selected by a Grants Committee made up of the charity’s trustees. These grants are made in accordance with relevant fund restrictions. The funds share a common focus on helping disadvantaged people in the Greater Manchester area. Key priority areas include:

Grants are available to support activity and project costs, capital costs and/or organisational core costs. This includes unrestricted and multi-year grants up to a maximum of 3 years. The maximum amount of grant for any one year is usually £3,000.

We normally focus our support on organisations that are working within one of our priority areas and:

The Trustees will not normally fund any of the following:

Most of our grants are to charities although we will consider applications from constituted community groups but with greater scrutiny (e.g. we check closely for social purpose objectives, asset lock, governance arrangements, etc). All grants awarded are made at the absolute discretion of the Trustees.

Risk management

The Trustees continue to review the charity’s activities to identify the major risk exposure and to maintain the systems to mitigate these risks. Management controls are also reviewed to ensure they are operating effectively and meeting the needs of the charity. The principal risks identified by Trustees are: a) reliance on key staff and b) a failure to grow earned income over the next five years. The steps taken by the Trustees to mitigate these risks as far as practicable are: a) the documentation of key systems, agreed recruitment processes, job descriptions, regular employee reviews and notice periods for all staff; and, b) the implementation of a marketing strategy to grow the number of donor advised funds under management.

Page 6

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Plans for the future

The Trustees have agreed the following strategic aims to guide the charity’s work in the three year period of 2024-2027 which adopts a growth strategy designed to increase philanthropic funds under management and achieve long-term stability:

The year ending 31 March 2026 will mark the mid-point of this strategic planning cycle. We will focus on diversifying our board to bring in new skills sets and build additional resilience. We will review our investment policy and consider broadening the number of investment partners that we work with which will raise our profile, offer choice to Donor Advised Fund holders and provide additional robustness within our investment performance. We will also mark our 35[th] anniversary during this year and plan to hold a celebration event to mark our achievements, further raise our profile and consolidate our network.

Statement of Trustees’ responsibilities

The Trustees (who are also the directors of The Charity Service for the purposes of company law) are responsible for preparing the report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Page 7

The Charity Service Limited

Report of the Trustees For the year ended 31st March 2025

Auditors

Ashby Berry Coulsons Limited is deemed to be re-appointed under section 487(2) of the Companies Act 2006. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. TCS is still a small company although now a larger charity.

Signed on behalf of the Trustees on 28th November 2025.

L Drury

Company Secretary

Page 8

Independent Auditor’s Report to the Members of The Charity Service Limited

Opinion

We have audited the financial statements of The Charity Service Limited (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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.

Page 9

Independent Auditor’s Report to the Members of The Charity Service Limited

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether 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 detect a material misstatement 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 of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our audit procedures include:

Page 10

Independent Auditor’s Report to the Members of The Charity Service Limited

We consider that these procedures, together with evidence acquired from our other audit work, provide an audit approach enabling a reasonable likelihood of detection of irregularities. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Tim Jones FCA (Director) for and on behalf of Ashby Berry Coulsons Limited Statutory Auditor 2 Belgrave Crescent Scarborough North Yorkshire YO11 1UB

28th November 2025

Page 11

The Charity Service Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2025

Notes
Income from:
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
Expenditure
Raising funds
6
Charitable activities:
Grant-making
7
Philanthropy advice and support
8
Total expenditure
5
Net gains / (losses) on investments
11
Net income and net movement of funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19
Operating result for the year before
gains/losses on investments		 Unrestricted
funds
£
-
59,547
4,440
63,987
12,637
24,534
63,577
100,748
(36,762)
(1,515)
(38,277)
174,775
136,498		 Restricted
funds
£
1,091,620
-
121,833
1,213,453
2,014
1,767,419
19,977
1,789,410
(575,957)
99,792
(476,165)
6,195,568
5,719,403		 2025
Total funds
£
1,091,620
59,547
126,273
1,277,440
14,651
1,791,954
83,554
1,890,159
(612,719)
98,277
(514,442)
6,370,343
5,855,901		 2024
Total funds
£
3,179,901
67,512
89,899
3,337,312
15,681
1,473,953
63,412
1,553,047
1,784,265
(88,479)
1,695,786
4,674,555
6,370,341

The notes on pages 15 to 25 form part of these financial statements.

Page 12

The Charity Service Limited

(Registered number: 02538910)

Balance Sheet at 31 March 2025

2025 2024
Notes £ £
Fixed assets
Tangible fixed assets 13 522 748
Investments 14 4,739,166 5,048,280
4,739,688 5,049,028
Current assets
Debtors 15 1,840 17,500
Investments 16 177,697 330,936
Cash at bank and in hand 994,440 1,063,811
1,173,977 1,412,247
Creditors
Amounts falling due within one year 17 (57,764) (90,932)
Net current assets 1,116,213 1,321,315
Total assets less current liabilities 5,855,901 6,370,343
Net assets 18 5,855,901 6,370,343
Funds
Unrestricted funds 136,498 174,775
Restricted funds 5,719,403 6,195,568
Total funds 19 5,855,901 6,370,343

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 on 28th November 2025 and were signed on its behalf by

E Wotherspoon Chair of the Trustees

The notes on pages 15 to 25 form part of these financial statements.

Page 13

The Charity Service Limited

Cash Flow Statement

for the year ended 31 March 2025

Note
Cash flow from operating activities
Cash provided from operations
(i)
Cash flows from investing activities:
Transfers to investment portfolios
Transfers from investment portfolios
Equalisations
Dividends received
Net cash provided by / (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
(ii)
Notes to the cash flow statement
(i) Reconciliation of net income to net cash flow from operating activities
Net income for the reported period (as per the SOFA)
Adjustments for:
Depreciation charges
New donations introduced as investments
Dividends received
Investment income retained in portfolio
Investment fees paid from cash accounts with investment manager
Net (gain) / loss on investments
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
(ii) Analysis of changes in net funds
At 1 Apr 2024
£
Net cash
Cash at Bank
1,063,811
1,063,811
Liquid resources
Current asset investments
330,936
330,936
Total
1,394,747		 2025
2024
£
£
421,863
385,656
0
0
(629,807)
(318,814)
15,875
12,585
126,273
89,899
(487,659)
(216,330)
(69,371)
169,327
1,063,811
894,484
994,440
1,063,811
(514,442)
1,695,786
226
227
669,053
(1,487,108)
(126,273)
(89,899)
15,875
(12,585)
2,013
2,907
(98,277)
88,479
15,660
150,605
(33,167)
37,245
(69,331)
385,657
Cash Flow At 31 Mar 2025
£
£
(69,371)
994,440
(69,371)
994,440
(153,239)
177,697
(153,239)
177,697
(222,610)
1,172,137		 2024
£
385,656
0
(318,814)
12,585
89,899
(216,330)
169,327
894,484
1,063,811
1,695,786
227
(1,487,108)
(89,899)
(12,585)
2,907
88,479
150,605
37,245
385,657
994,440
177,697
177,697
1,172,137

Page 14

The Charity Service Limited

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting policies

General information

The Charity Service Limited is a charitable private company limited by guarantee incorporated in England and Wales. In addition, it is a Trust Corporation within the meaning of Section 68(18) of the Trustee Act 1925. Every member of the charitable company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are to benefit any charitable institutions or charitable purposes by provision of advice and assistance.

Basis of preparing the financial statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with 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) published in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

Having considered the level of funds held and the expected level of income and expenditure for the next 12 months, the Trustees have, at the time of approving these financial statements, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and they therefore continue to adopt the going concern basis of accounting in preparation of these accounts.

Judgements and key sources of estimation uncertainty

The Trustees consider that no judgements, apart from those involving estimates, have been made in the process of applying the above accounting policies which have had a significant effect on amounts recognised in the financial statements.

The Trustees consider that no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date have been made which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Funds

Unrestricted funds comprise the general fund and the designated fund. The general fund is available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. The designated funds represent charitable funds which the charity may use and distribute to appropriate charitable purposes agreed by the Trustees.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 15

The Charity Service Limited

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting policies - continued

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income

Voluntary income usually consists of small donations which are accounted for when received. The charity is not a legacy seeking organisation but will account for any legacies on the basis that entitlement is taken as the earlier of the charity being notified of an impending distribution or the legacy being received.

Investment income receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Income from charitable activities

Income from fees for accounting and management services is recognised when receivable.

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Non-staff costs are allocated directly to the applicable expenditure heading and staff costs are apportioned on the basis of time spent.

Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support costs.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include administrative and governance costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Grants payable

Grants are voluntary payments made to charitable institutions. Grants nominated by donors are accounted for when they are paid. Expenditure on other grants is included when the grants have been approved and any conditions attached by the trustees have been satisfied.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Recognised gains and losses

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the statement of financial activities.

Page 16

The Charity Service Limited

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting policies - continued

Tangible fixed assets

Fixed assets costing more than £500 are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis at the following annual rates.

Computer equipment

33 1/3%

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value, which is taken as the market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Cash held by investment managers is classified as current asset investments.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity contributes to a defined contribution workplace pension plan for the benefit of its employees. Contributions are charged to the statement of financial activities in the period to which they relate.

Taxation

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

Page 17

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

2. Donations and legacies

Year ended 31 March 2025
Donations
Legacies
Year ended 31 March 2024
Donations
Legacies
3.
Income from charitable activities
Year ended 31 March 2025
Philanthropy support services
Year ended 31 March 2024
Philanthropy support services
4.
Investment income
Year ended 31 March 2025
Income from investment portfolios
Year ended 31 March 2024
Income from investment portfolios		 Unrestricted
funds
£
-
-
-
-
-
-
Unrestricted
funds
£
59,547
67,512
Unrestricted
funds
£
4,440
4,298		 Restricted
funds
£
1,091,620
-
1,091,620
3,179,901
-
3,179,901
Restricted
funds
£
-
-
Restricted
funds
£
121,833
85,601		 Total
funds
£
1,091,620
-
1,091,620
3,179,901
0
3,179,901
Total
funds
£
59,547
67,512
Total
funds
£
126,273
89,899

Page 18

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

5. Total expenditure

Note
Year ended 31 March 2025
Raising funds
6
Grant-making
7
Philanthropy advice and support
8
Year ended 31 March 2024
Raising funds
6
Grant-making
7
Philanthropy advice and support
8
6. Raising funds
Year ended 31 March 2025
Staff costs (note 9)
Direct costs
Support costs (note 10)
Year ended 31 March 2024
Staff costs (note 9)
Direct costs
Support costs (note 10)
7. Grant-making
Year ended 31 March 2025
Grants payable
Direct costs
Support costs (note 10)
Year ended 31 March 2024
Grants payable
Direct costs
Support costs (note 10)		 Unrestricted
funds
£
12,637
24,534
63,577
100,748
12,774
62,808
54,241
129,823
Unrestricted
funds
£
7,694
36
4,907
12,637
8,222
1,646
2,906
12,774
Unrestricted
funds
£
-
-
24,534
24,534
38,618
9,655
14,535
62,808		 Restricted
funds
£
2,014
1,767,419
19,977
1,789,410
2,907
1,411,145
9,171
1,423,224
Restricted
funds
£
-
2,014
-
2,014
-
2,907
-
2,907
Restricted
funds
£
1,746,264
21,155
-
1,767,419
1,378,420
32,725
-
1,411,145		 Total
funds
£
14,651
1,791,954
83,554
1,890,159
15,681
1,473,953
63,412
1,553,047
Total
funds
£
7,694
2,050
4,907
14,651
8,222
4,553
2,906
15,681
Total
funds
£
1,746,264
21,155
24,534
1,791,954
1,417,038
42,380
14,535
1,473,953

Page 19

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

7. Grant-making (continued)

Grants payable
Grants paid to organisations
Grants paid to individuals		 2025
£
1,700,902
45,361
1,746,263		 2024
£
1,376,542
40,496
1,417,038

A full list of grants payable to organisations is available on the charity's website at:

http://charityservice.org.uk/wp-content/uploads/2025/08/List-of-grants-paid-2024-25.xlsx

Grants payable to individuals are not disclosed individually due to data protection requirements. During the year, no grants were made to related parties (2024: none).

8. Philanthropy advice and support

Unrestricted
funds
£
Year ended 31 March 2025
Staff costs (note 9)
43,949
Direct costs
-
Support costs (note 10)
19,628
63,577
Year ended 31 March 2024
Staff costs (note 9)
42,614
Direct costs
-
Support costs (note 10)
11,627
54,241
Staff costs
Salaries
Employers NI
Pensions costs
Other staff costs
The average monthly number of employees during the year was:
Full time
Part time		 Restricted
funds
£
-
19,977
-
19,977
-
9,171
-
9,171
2025
£
73,887
1,454
3,196
3,751
82,288
2025
1
2
3		 Total
funds
£
43,949
19,977
19,628
83,554
42,614
9,171
11,627
63,412
2024
£
58,318
557
2,923
7,070
68,868
2024
1
1
2

9. Staff costs

Total staffing in the year ended 31 March 2025 was 2 full time equivalents (2024: 1.5). No employees received emoluments in excess of £60,000.

Page 20

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

10. Support costs

The charity allocates governance and support costs to charitable activities on the basis of the estimated time spent by staff on each activity. The allocation of support costs is set out below.

Year ended 31 March 2025
Staff costs (see note 9)
Information technology
Office and admin costs
Governance
Year ended 31 March 2024
Staff costs (see note 9)
Information technology
Office and admin costs
Governance		 Raising Funds
£
3,064
553
590
700
4,907
1,803
331
353
419
2,906		 Grantmaking
£
15,322
2,763
2,948
3,501
24,534
9,016
1,656
1,766
2,097
14,535		 Philanthropy
Support
£
12,258
2,211
2,358
2,801
19,628
7,213
1,324
1,412
1,678
11,627		 Total
£
30,645
5,527
5,895
7,002
49,069
18,032
3,311
3,531
4,194
29,068

11. Net income (expenditure)

Net income / (expenditure) is stated after charging:
Audit fees - current year
Depreciation - owned assets
Investment gains / (losses):
Realised investment gains / (losses)
Unrealised investment gains / (losses)
Total investment gains / (losses)		 2025
£
4,800
226
29,849
68,428
98,277		 2024
£
4,500
227
(119,082)
30,604
(88,478)

12. Trustees' remuneration and benefits and expenses

No trustee received or waived remuneration or other benefits in the year (2024: nil). One trustee was reimbursed for out of pocket expenses during the year £122.75 (2024: nil).

Page 21

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

13. Tangible fixed assets

Cost
At 1 April
Additions
At 31 March
Depreciation
At 1 April
Charge for the year
At 31 March
Net book value
At 1 March 2024
At 1 March 2025
Fixed asset investments
Market value
At 1 April
Additions at cost
Carrying value of investments sold
Gains / (losses) on revaluation
At 31 March
Analysis of investments
Multi-asset funds
Other assets
Historic cost of investments		 Computer equipment
£
1,659
-
1,659
(911)
(226)
(1,137)
748
522
2025
2024
£
£
5,048,280
3,632,116
344,497
3,452,502
(751,801)
(2,024,625)
98,191
(11,713)
4,739,166
5,048,280
4,739,166
5,048,280
-
-
4,739,166
5,048,280
4,502,052
4,824,256
Listed investments		 Computer equipment
£
1,659
-
1,659
(911)
(226)
(1,137)
748
522
2025
2024
£
£
5,048,280
3,632,116
344,497
3,452,502
(751,801)
(2,024,625)
98,191
(11,713)
4,739,166
5,048,280
4,739,166
5,048,280
-
-
4,739,166
5,048,280
4,502,052
4,824,256
Listed investments
5,048,280
5,048,280
-
5,048,280
4,824,256

14. Fixed asset investments

Page 22

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

15. Debtors
Trade debtors
Prepayments
Other debtors
16. Current asset investments
Cash accounts with investment manager
17. Creditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Other creditors
Accruals
18. Analysis of net assets between funds
As at 31 March 2025
Tangbile fixed assets
Investments
Current assets
Current liabilities
As at 31 March 2024
Tangbile fixed assets
Investments
Current assets
Current liabilities		 Unrestricted
funds
£
522
104,269
40,465
(2,178)
143,078
748
105,784
96,390
(11,041)
191,880		 2025
£
0
0
1,840
1,840
2025
£
177,697
2025
£
2,178
1,104
285
54,197
57,764
Restricted
funds
£
-
4,634,819
1,133,512
(55,586)
5,712,745
-
4,942,496
1,315,857
(79,891)
6,178,462		 2024
£
17,500
0
0
17,500
2024
£
330,936
2024
£
3,761
1,374
904
84,892
90,932
Total
funds
£
522
4,739,088
1,173,977
(57,764)
5,855,823
748
5,048,279
1,412,247
(90,932)
6,370,342

Page 23

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

19. Movements in funds
Year ended 31 March 2025
Unrestricted funds
General fund
Designated - Trustees' discretionary
Total unrestricted funds
Restricted funds
Human Rights & Nursing Awards
George James Pennington Bequest
Dick Camplin Educational Trust
Castlefield Charitable Fund
Charity Cheque accounts
Gables End Trust
Earthsong Trust
Kelly Trust
Dan and Eppie Trust
The Tithe
Late Richard Harding's Fund
Castlefield IPA
Sharks
Total restricted funds
Total funds
Year ended 31 March 2024
Unrestricted funds
General fund
Designated - Trustees' discretionary
Total unrestricted funds
Restricted funds
Human Rights & Nursing Awards
George James Pennington Bequest
Dick Camplin Educational Trust
Castlefield Charitable Fund
Charity Cheque accounts
Gables End Trust
Earthsong Trust
Kelly Trust
Dan and Eppie Trust
The Tithe
Late Richard Harding's Fund
Castlefield IPA
Total restricted funds
Total funds		 At 1 April
£
56,048
118,727
174,775
646,406
116,012
17,003
21,211
45,583
351,514
1,994,804
1,396,206
817,019
100,551
602,787
86,472
-
6,195,568
6,370,343
70,085
161,601
231,686
663,946
226,886
15,072
22,310
45,079
450,483
1,979,942
220,901
818,250
-
-
-
4,442,869
4,674,555		 Incoming
resources
£
61,730
2,256
63,986
12,212
4,355
2,234
10,528
1,143
6,052
38,624
92,361
16,617
710,485
15,097
204,663
99,082
1,213,453
1,277,439
67,512
4,298
71,810
12,035
3,556
15,928
8,367
504
7,808
36,246
1,948,196
7,442
536,159
602,787
86,472
3,265,500
3,337,310		 Resources
expended
£
(100,677)
(71)
(100,748)
(34,516)
(109,173)
(14,100)
(4,104)
-
(107,671)
(2,604)
(482,755)
(102,631)
(811,642)
(2,600)
(40,480)
(77,135)
(1,789,410)
(1,890,158)
(81,549)
(48,274)
(129,823)
(31,423)
(113,265)
(13,997)
(9,466)
-
(104,383)
(27,604)
(679,890)
(7,588)
(435,608)
-
-
(1,423,223)
(1,553,046)		 Gains /
(losses)
£
-
(1,515)
(1,515)
(8,406)
-
-
-
-
84,072
(28,184)
50,836
7,797
-
-
(6,323)
-
99,792
98,277
-
1,101
1,101
1,848
(1,165)
-
-
-
(2,395)
6,220
(93,002)
(1,085)
-
-
-
(89,579)
(88,478)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
£
17,101
119,397
136,498
615,696
11,194
5,137
27,635
46,726
333,966
2,002,640
1,056,648
738,803
606
-
615,284
244,332
21,947
5,719,403
5,855,901
56,048
118,726
174,774
646,406
116,012
17,003
21,211
45,583
351,513
1,994,804
1,396,205
817,019
100,551
602,787
86,472
6,195,568
6,370,342

Page 24

The Charity Service Limited

Notes to the Financial Statements - continued for the year ended 31 March 2025

19. Movements in funds (continued)

Fund purposes

The general fund receives its income from the fees charged by The Charity Service Limited and provides the resources to support the running costs of the charity.

The designated fund represents unrestriucted funds set aside by the Trustees for grant-making.

All restricted funds, except for the George James Pennington Bequest fund, are donor advised funds. Grants are made from these funds at the request of donors (subject to appropriate due diligence checks). The George James Pennington Bequest fund provides grants to assist with activities, amenities or equipment that will improve the general welfare of people in Manchester.

20. Related party disclosures

Mr M S Ralph, is aTrustee of The Charity Service and is also a shareholder in Castlefield Partners Limited, in which the charity has a small shareholding of non-voting class B shares. During the year ended 31 March 2025, the charity received a dividend from Castlefield Partners Limited of £45 (2024: £238).

During the year, the charity also received donations from Castlefield Partners Limited and its associated companies Castlefield Advisory Partners and Conbrio Fund Partners amounting to £10,000 (2024: £8,909). These donations were made to a restricted fund called the Castlefield Charitable Fund.

21. Funds held as trustee

The Charity Service Limited acts as sole trustee for the following charitable trusts:

Name Registered Objects
Charity Number
Chronicle Cinderella Home Fund 233536 Providing convalescent or recuperative holidays
for sick and convalescent children of poor persons.
Manchester and Salford Medical Charities 223079 Making grants to charities in the Manchester and
Fund Salford area, particularly for the provision of
comforts, amenities and assistance to the poor,
the sick and the infirm.
The Richard Budenberg Charitable Trust 267673 Making grants to charities.

In the capacity as sole trustee, The Charity Service Ltd is the custodian trustee for the investment portfolios held by the above trusts and managed by Castlefield Investment Partners LLP.

Page 25