**Charity number: 1013844**
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4|
|**Statement of financial activities**|5|
|**Balance sheet**|6|
|**Notes to the financial statements**|7 - 14|
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 1 NOVEMBER 2025**
|**Trustees**|Charles William Legh Barratt|
|---|---|
||Johnathan Tobias Deveci Rush|
||John Stuart Jones|
||Samuel Joseph Matthews (appointed 15 May 2025)|
|**Charity registered**
**number**
1013844
**Principal office**
Kingfisher Close
1 Gilders Way
Norwich
Norfolk
NR3 1UB
**Accountants**
Larking Gowen LLP
Chartered Accountants
1st Floor, Prospect House
Rouen Road
Norwich
NR1 1RE
**Bankers**
Barclays Bank PLC
Red Lion Street
Norwich
NR1 3QH
**Solicitors**
Birketts LLP
Kingfisher House
1 Gilders Way
Norwich
NR3 1UB
**Stockbrokers**
Barratt & Cooke
5-6 Opie Street
Norwich
NR1 3DW||
Page 1
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 1 NOVEMBER 2025**
The Trustees present their annual report together with the financial statements of the Charity for the year 2 November 2024 to 1 November 2025.
## **Objectives and activities**
## **a. Constitution, objectives and Activities for the public benefit**
The Mr & Mrs Philip Rackham Charitable Trust is a registered charity, number 1013844, and is constituted under a Trust deed dated 5 August 1992.
The Trustees shall hold the capital and income of the trust fund upon trust, to apply the income and all or part of the capital for charitable purposes and to make donations to charitable institutions as the trustees consider appropriate. Particular preference is to be given to those institutions associated with the support and relief of asthma sufferers, asthma research, the Samaritans and other Norfolk and Suffolk charities.
Grants amounting to £43,000 (2024: £28,220) were made during the year to charitable institutions, as detailed in note 4 to the financial statements.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Financial position and reserves policy**
It is the policy of the charity to maintain approximately 1 year of incoming resources in an unrestricted fund to provide sufficient funds to respond to emergency applications for grants which may arise from time to time, without needing to draw on the charity’s capital. At 1 November 2025 this fund amounted to £34,276 (2024: £39,440), which is below the target of 1 year of incoming resources.
The endowment fund represents the original capital of the charity which has been invested to maintain sufficient incoming resources to cover charitable expenditure. At 1 November 2025, the endowment fund amounted to £1,778,081 (2024: £1,737,279).
The endowment fund is not a permanent endowment. The Trust’s governing instrument provides that the capital of the trust fund may be utilised as though it were income. Hence the charity’s total funds of £1,812,357 (2024: £1,776,719) are reserves free to apply within the objects of the charity at the trustees’ discretion.
Page 2
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **Structure, governance and management**
## **a. Organisational structure, decision-making policies and Constitution**
The Mr & Mrs P Rackham Charitable Trust is a registered charity, number 1013844, and is constituted under a Trust deed.
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. New trustees may be appointed by a resolution of the Trustees. The Trustees meet twice each year. Every matter shall be determined by the majority of votes of the Trustees present and voting on the question. In case of equality of votes the Chairman of the meeting shall have a casting vote whether he has or has not voted previously on the same question but no Trustee in any other circumstances shall give more than one vote.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **John Stuart Jones**
Date:
Page 3
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **Independent examiner's report to the Trustees of The Mr & Mrs P Rackham Charitable Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 1 November 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated:
Giles Kerkham FCA DChA
Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE
Page 4
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 NOVEMBER 2025**
|**Note**
**Income and endowments from:**
Investments
2
**Total income and endowments**
**Expenditure on:**
Charitable activities
**Total expenditure**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Endowment**
**funds**
**2025**
**£**
**-**
**-**
**-**
**-**
**40,802**
**40,802**
**1,737,279**
**40,802**
**1,778,081**|**Unrestricted**
**funds**
**2025**
**£**
**47,165**
**47,165**
**52,387**
**52,387**
**58**
**(5,164)**
**39,440**
**(5,164)**
**34,276**|**Total**
**funds**
**2025**
**£**
**47,165**
**47,165**
**52,387**
**52,387**
**40,860**
**35,638**
**1,776,719**
**35,638**
**1,812,357**|_Total_
_funds_
_2024_
_£_
_45,729_|
|---|---|---|---|---|
|||||_45,729_|
|||||_38,287_|
|||||_38,287_|
|||||_109,219_|
|||||_116,661_|
|||||_1,660,058_
_116,661_|
|||||_1,776,719_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 14 form part of these financial statements.
Page 5
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **BALANCE SHEET AS AT 1 NOVEMBER 2025**
|**Note**
**Fixed assets**
Investments
5
**Current assets**
Cash at broker
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
6
**Net current assets**
**Total net assets**
**Charity funds**
Endowment funds
8
Unrestricted funds
8
**Total funds**|**29,324**
**32,732**
**62,056**
**(3,152)**|**2025**
**£**
**1,753,453**
**1,753,453**
**58,904**
**1,812,357**
**1,778,081**
**34,276**
**1,812,357**|_24,472_
_39,770_
_64,242_
_(5,760)_|_2024_
_£_
_1,718,237_|
|---|---|---|---|---|
|||||_1,718,237_
_58,482_|
||||||
|||||_1,776,719_|
|||||_1,737,279_
_39,440_|
||||||
|||||_1,776,719_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**John Stuart Jones**
Date:
The notes on pages 7 to 14 form part of these financial statements.
Page 6
**THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Mr & Mrs P Rackham Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.4 Interest 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 institution with whom the funds are deposited.
## **1.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## **1.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 7
**THE MR & MRS P RACKHAM CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **1. Accounting policies (continued)**
## **1.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
The endowment fund is an expendable endowment fund representing the original capital provided by the settlor, which has been invested in stocks and shares. Income received is the transferred to the general fund.
Investment income, gains and losses are allocated to the appropriate fund.
Page 8
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **2. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Investment invome
46,425
Bank interest
740
47,165
_Total 2024_
_45,729_|**Total**
**funds**
**2025**
**£**
**46,425**
**740**
**47,165**
_45,729_|_Total_
_funds_
_2024_
_£_
_44,969_
_760_|
|---|---|---|
|||_45,729_|
||||
## **3. Analysis of expenditure by activities**
|Charitable activities costs
_Total 2024_|**Grant**
**funding of**
**activities**
**2025**
**£**
43,000
_28,220_|**Governance**
**costs**
**2025**
**£**
9,387
_10,067_|**Total**
**funds**
**2025**
**£**
**52,387**
_38,287_|_Total_
_funds_
_2024_
_£_
_38,287_|
|---|---|---|---|---|
||||||
## **Analysis of support costs**
|Accountancy & Examination
Legal & Professional
Investment management fees|**Total**
**funds**
**2025**
**£**
**2,826**
**5,721**
**840**
**9,387**|_Total_
_funds_
_2024_
_£_
_2,706_
_6,488_
_873_|
|---|---|---|
|||_10,067_|
Page 9
**THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **4. Grants payable**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|33rd Norwich Scouts|**-**|_1,000_|
|Age Concern North Norfolk|**-**|_500_|
|Assist Trust|**500**|_-_|
|Asthma Relief|**1,000**|_500_|
|Asthma + Lung UK|**500**|_500_|
|Barnham PCC|**-**|_5,000_|
|BEFA|**-**|_500_|
|Big C Cancer Charity|**2,500**|_-_|
|BREAK|**1,000**|_-_|
|BUILD|**-**|_500_|
|Caring Together (Norfolk Young Carers Forum)|**-**|_500_|
|Connects & Co|**-**|_500_|
|Dawns New Horizon|**-**|_500_|
|EACH|**500**|_1,000_|
|East Anglian Air Ambulance|**-**|_1,000_|
|Eating Matters|**500**|_-_|
|Headway|**-**|_500_|
|Hear for Norfolk|**-**|_500_|
|Hebron Trust|**2,000**|_-_|
|Heritage House|**-**|_500_|
|Holt Youth Project|**3,500**|_-_|
|Musical Keys|**-**|_500_|
|Nansa|**-**|_500_|
|Nelson's Journey|**1,000**|_-_|
|New-U|**-**|_500_|
|Norfolk Community Foundation|**1,000**|_-_|
|Norfolk Community Law Service|**500**|_-_|
|Norfolk FYFC|**-**|_1,220_|
|North Norfolk Community Transport|**500**|_500_|
|Norwich Open Christmas Ltd|**1,000**|_-_|
|Norwich Samaritans|**10,500**|_-_|
|Open Road West Norfolk|**-**|_500_|
|Priscilla Bacon Hospice|**2,000**|_-_|
|RABI|**500**|_-_|
|RNAA|**1,000**|_1,000_|
|Schoolreaders|**500**|_1,000_|
|Shine (East Norfolk)|**500**|_500_|
|Stepping Stones|**500**|_500_|
Page 10
**THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
|The Addington Fund
The Benjamin Foundation
The Charles Burrell Centre
The Country Trust
The Excelsior Trust
The Gloucester 1682 Charitable Trust
The Hamlet Charity
The Nancy Oldfield Trust
The Norfolk Hospice Tapping House
The Prince's Trust
The YANA Project
Thornage Hall Independent Living
Time Norfolk
UEA
Yesu
**5.**
**Fixed asset investments**
**Cost or valuation**
At 2 November 2024
Additions
Disposals
Revaluations
At 1 November 2025
**Net book value**
At 1 November 2025
_At 1 November 2024_|**500**
**2,000**
**-**
**500**
**500**
**-**
**-**
**500**
**-**
**-**
**1,000**
**1,000**
**-**
**5,000**
**500**
**43,000**|_500_
_1,000_
_1,000_
_1,000_
_-_
_1,000_
_500_
_-_
_500_
_500_
_1,000_
_-_
_500_
_-_
_500_
_28,220_
**Listed**
**investments**
**£**
**1,718,237**
**171,574**
**(177,218)**
**40,860**
**1,753,453**
**1,753,453**
_1,718,237_|
|---|---|---|
The historical cost of fixed asset investments at 1 November 2025 was £1,195,121 (2024: £1,199,979).
Page 11
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **6. Creditors: Amounts falling due within one year**
|Accountancy and Examination Fees
Legal and Professional Fees
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2025**
**£**
**2,826**
**326**
**3,152**
**2025**
**£**
**1,753,453**|_2024_
_£_
_2,706_
_3,054_|
|---|---|---|
||||
|||_5,760_|
|||_2024_
_£_
_1,718,237_|
## **7. Financial instruments**
Financial assets measured at fair value through income and expenditure comprise listed investments.
Page 12
## **THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **8. Statement of funds**
## **Statement of funds - current year**
||**Balance at 2**|**Balance at 2**||||**Balance at 1**|
|---|---|---|---|---|---|---|
||**November**||||**Gains/**|**November**|
||**2024**||**Income**|**Expenditure**|**(Losses)**|**2025**|
||**£**||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||||
|General Funds - all funds|**39,440**||**47,165**|**(52,387)**|**58**|**34,276**|
|**Endowment funds**|||||||
|Endowment Funds - all funds|**1,737,279**||**-**|**-**|**40,802**|**1,778,081**|
|**Total of funds**|**1,776,719**||**47,165**|**(52,387)**|**40,860**|**1,812,357**|
|**Statement of funds - prior year**|||||||
||_Balance at_|||||_Balance at_|
||_1 November_||||_Gains/_|_1 November_|
||_2023_||_Income_|_Expenditure_|_(Losses)_|_2024_|
||_£_||_£_|_£_|_£_|_£_|
|**Unrestricted funds**|||||||
|General Funds|_31,795_||_45,729_|_(38,287)_|_203_|_39,440_|
||_Balance at_|||||_Balance at_|
||_1 November_||||_Gains/_|_1 November_|
||_2023_||_Income_|_Expenditure_|_(Losses)_|_2024_|
||_£_||_£_|_£_|_£_|_£_|
|**Endowment funds**|||||||
|Endowment Funds|_1,628,263_||_-_|_-_|_109,016_|_1,737,279_|
|**Total of funds**|_1,660,058_||_45,729_|_(38,287)_|_109,219_|_1,776,719_|
Page 13
**THE MR & MRS P RACKHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2025**
## **9. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Endowment**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
1,753,453
-
24,628
37,428
-
(3,152)
1,778,081
34,276|**Total**
**funds**
**2025**
**£**
**1,753,453**
**62,056**
**(3,152)**
**1,812,357**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Endowment_
_funds_
_2024_
_£_
_1,713,311_
_23,968_
_-_
_1,737,279_|_Unrestricted_
_funds_
_2024_
_£_
_4,926_
_40,274_
_(5,760)_
_39,440_|_Total_
_funds_
_2024_
_£_
_1,718,237_
_64,242_
_(5,760)_
_1,776,719_|
|---|---|---|---|
## **10. Related party transactions**
During the current and previous year, no trustee received remuneration or reimbursement of expenses.
None of the trustees entered into any transaction, contract or other arrangement with ther charity, other than those indicated below.
The firm of Birketts provided legal services during the year on normal commercial terms at a cost to the charity of £5,721 (2024: £6,488). Of this sum, £326 was outstanding at the year end (2024: £3,054). JS Jones is a Legal Director at Birketts.
The firm of Barratt & Cooke, of which C W L Barratt is a non-executive director and S J Matthews is Associate Director, provided stockbroker services. During the year Barratt & Cooke received and retained commissions and management fees amounting to £4,524 (2024: £5,503).
Page 14