THE OLIVE TREE TRUST
UNAUDITED RECEIPTS AND PAYMENTS ACCOUNTS
FOR THE YEAR ENDED 5th APRIL 2025
Charity no: 1026345
Wenn Townsend
Chartered Accountants
Oxford
THE OLIVE TREE TRUST
Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 |
| Receipts and payments accounts | 3 |
| Statement of assets and liabilities | 3 |
| Notes to the Financial Statements | 4 |
| Reconciliation of Investments | 5 |
| Schedule of Investments | 6 |
| Independent Examiner’s Report | 7 |
THE OLIVE TREE TRUST
Legal and administrative information
Trustees Caroline Ruth Charity Nicola Lovelock Tim Pipkin Paul Medley
Foundation 84 Fairacres Road Offices Oxford OX41TG Independent Mr B Hayes BSc FCA Examiner Wenn Townsend Chartered Accountants 30 St Giles Oxford OX1 3LE Bankers The Co-operative Bank plc PO Box 250 WN8 6WT
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THE OLIVE TREE TRUST
Trustees’ Annual Report for the year ended 5th April 2025
Structure, Governance and management
The trustees named on page 1 have served throughout the year. Appointment of the trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
In considering the direction and activities of the Foundation. The trustees have had due regard to the Charity Commission’s guidance on public benefit.
The trustees present their report along with the financial statements of the Foundation for the year ended 5th April 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 6 and comply with the charity’s trust deed and applicable law.
History, Objectives and Activities
The charitable trust was established on 25th August 1993.
The Foundation is constituted by Trust Deed, and its objects are to apply the income and capital of the trust for such charitable purposes as the trustees in their absolute discretion determine.
Achievements and Performance
The Olive Tree Trust aims to provide long-term support to a small number of charities. We are therefore able to get to know these charities well, visit their premises and gain a deeper understanding of their Work.
In 2024/2025 we continued to support three charities that offer help to those who are homeless or on low incomes, providing much needed advice on housing, employment and benefits as well as practical support in these areas. We continued support for Key Steps (in Weston-super-Mare) and The Upper Room (in London) and The Porch (in Oxford).
We were pleased to be able to donate to The Upper Room again through The Big Give who matched our initial donation of £9k. We donated £9k each to Key Steps and The Porch and made similar commitment to continue funding of £9k for the coming year on receipt of a positive report to provide the charities with security of funding.
Financial Review (including reserves policy)
The focus of expenditure from the Trust is support to charities. Costs for the running of the Trust are kept to a minimum to ensure that as much funding as possible can be devoted to charitable causes, and as a result the charity does not need to hold significant free reserves. Cash funds at the year end were c£30,000, which is in line with the targeted objective.
Public Benefit
The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance.
Approval
This report was approved by the trustees on 22[nd] November 2025 and signed on their behalf by:
C R Charity – Trustee 2
THE OLIVE TREE TRUST
Receipts and Payments Accounts for the year ended 5th April 2025
| Receipts: Income from investments Payments: Investment management fees Accountancy / examination fees Professional fees Grants awarded Total payments: Net of receipts/payments Other: Realised gains on investments Net movement in funds Reconciliation of funds: Funds brought forward Funds carried forward Statement of Investment funds at cost Cash funds Accountant fees outstanding Total |
2025 £ 32,052 (3,371) (2,460) - (27,000) (32,831) (779) 51,760 50,981 731,550 782,531 assets and liabilities 2025 £ 757,225 29,566 (4,260) 782,531 |
2024 £ 31,052 (4,250) (2,340) (80) (45,000) |
|---|---|---|
| (51,670) | ||
| (20,618) 65,925 |
||
| 45,307 | ||
| 686,243 | ||
| 731,550 | ||
| 2024 £ 717,586 18,464 (4,500) |
||
| 731,550 |
The market value of the investment funds held at period end was £836,533 (2024:- £847,904)
The financial statements were approved and authorized for issue by the Board on 22[nd] November 2025. Signed on behalf of the board of trustees by:
C R Charity – Trustee
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THE OLIVE TREE TRUST
Notes to the financial statements for the year ended 5th April 2025
1 ACCOUNTING POLICIES
Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention using. The accounts are in accordance with applicable accounting standards, the Charities SORP ( FRS 102) (Accounting and Reporting by Charities) and comply with the Charities (Accounts and reports) Regulations 2008 issued under the charities Act 2011. The charity has taken advantage of its ability to prepare accounts on a receipts and payments basis, as it meets the threshold for this approach.
Income
The income of the Trust comprises the income arising from the investment portfolio and is accounted for as received.
Value Added Tax
Value added tax is not recoverable by the Trust, and as such is included in the relevant costs in the Statement of Financial Activities.
Taxation
The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
Fixed Asset Investments
Investments are included at cost. Any realised gains and losses on investments are recognised upon crystallisation and are taken to the Statement of Financial Activities at that point. The determination of any gains and losses are calculated by reference to the value of such assets at the beginning of the accounting period.
2. Trustees’ and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2024: £Nil).
The total amount of employee benefits received by key management personnel is £Nil (2024: £Nil). The Trust considers its key management personnel comprise the trustees.
The trustees did not have any expenses reimbursed during the year (2024: £ Nil).
3. Related party transactions
There are no related party transactions during the year (2024: £Nil).
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THE OLIVE TREE TRUST
Notes to the financial statements (continued) for the year ended 5th April 2025
4. Investments
4a – Movements in period
| Cost at 6th April 2024 Additions in period Disposals at cost (proceeds £207,304, realised gain £51,760) Cost at 5th April 2024 |
2025 £ 717,586 195,183 (155,544) 757,225 |
2024 £ 667,965 161,615 (104,795) |
|---|---|---|
| 717,586 |
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THE OLIVE TREE TRUST
Notes to the financial statements (continued) for the year ended 5th April 2025
4. Investments (continued)
4b – Schedule of investments for the year ended 5 April 2025
| Cost | Market Value | ||
|---|---|---|---|
| Units | £ | £ | |
| 9,000 | Treasury I/L Stock 2035 | 24,769 | 21,616 |
| 20,000 | Retail Charity Bonds PLC | 20,065 | 18,822 |
| 14,236 | Rathbone Unit Trust Management | 15,215 | 12,126 |
| 65,000 | MI Select Managers Bond Instl DIS | 65,000 | 65,449 |
| 11,928 | MI Chelverton Equity Fund | 20,224 | 18,616 |
| 604 | UBS (Lux) Fund Solutions SICAV | 110,059 | 95,828 |
| 3,800 | Aviva PLC | 18,979 | 19,965 |
| 12,000 | Legal & General Group PLC | 12,136 | 26,700 |
| 154 | London Stock Exchange Group PLC Ord Shs 6 79/86P |
12,010 | 17,163 |
| 210 | AstraZeneca PLC | 6,055 | 22,697 |
| 1,020 | Compass Group PLC | 6,831 | 25,602 |
| 1,422 | SAGE Group PLC | 2,843 | 16,908 |
| 4,854 | Dunedin Income Growth Inv Tst PLC Ord 25P |
13,752 | 13,300 |
| 1,200 | Henderson smaller cos inv Tst PLC Ord 25P | 16,057 | 8,364 |
| 3,700 | Jpmorgan American Inv Trust PLC | 15,103 | 33,411 |
| 5,633 | Invesco Pacific Accumulation Units | 5,936 | 39,789 |
| 7,700 | lmpax Environmental Markets PLC | 24,898 | 25,141 |
| 277 | Schroder International Seleclion Fd Global Sustainable Food And Water C GBP |
25,265 | 23,425 |
| 3,700 | Scottish Mortgage Inv Trust PLC | 9,326 | 31,650 |
| 3,700 | Personal Assets Trust PLC | 16,937 | 18,574 |
| 20,000 | Primary Health Properties PLC | 23,497 | 19,040 |
| 22,000 | Foresight Environmental Inf | 25,261 | 14,718 |
| 16,700 | Greencoat UK Wind PLC | 25,043 | 17,535 |
| 12,000 | HICL Infrastructure PLC | 20,627 | 12,936 |
| 21,200 | The Renewables Infrastructure Grp | 25,355 | 15,942 |
| 17,400 | Gresham House Energy Storage Fd | 18,806 | 10,353 |
| 20,000 | 3I Group PLC 5.75% | 20,250 | 20,865 |
| 20,000 | Aviva PLC 6.125% | 20,495 | 20,897 |
| 20,000 | Burford Capital PLC 5% | - | 20,058 |
| 1,500 | Telecom plus PLC | 24,030 | 25,500 |
| 3,500 | Schroder UK Mid Cap | 20,456 | 18,830 |
| 60 | Deere & Co | 21,536 | 19,932 |
| 6,663 | Liontrust European Dynamic | 24,708 | 22,864 |
| 7,700 | Londonmetric Property | 19,783 | 13,822 |
| 21,200 | Foresight Solar Fund Ltd | 24,754 | 16,133 |
| 339 | 3I Group PLC | 1,163 | 11,963 |
| Total | 757,225 | 836,533 |
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THE OLIVE TREE TRUST
Independent Examiner’s Report to the Trustees of The Olive Tree Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5th April 2025 which are set out on pages 6 to 8.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
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.
B Hayes BSc FCA Wenn Townsend Chartered Accountants Oxford
22[nd] November 2025
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