PAT ALLSOP CHARITABLE TRUST
TRUSTEES' REPORT AND ACCOUNTS
for the year ended 31 August 2025
Approved by the Trustees on the 25th day of March 2026
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(WJK Taylor)
(S Tyler)
(AJ Hoban)
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(CL Pugsley)
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LEE BOLTON MONIER-WILLIAMS LLP
1 The Sanctuary Westminster London SW1P 3JT
PAT ALLSOP CHARITABLE TRUST
PART A:
Legal and Administrative Information
Name of Charity: Pat Allsop Charitable Trust Charity Number: 1030950 Principal Address: c/o Lee Bolton Monier-Williams LLP, 1 The Sanctuary, Westminster, London SW1P 3JT Governing Document: A Trust Deed dated the 23rd day of January 1976 and made between Patrick Thomas Falconer Allsop (1) and the Partners of Allsop & Co. and H B Dehn (2)
The persons legally responsible for the control and management of the Charity:
The Trustees who are Mr Wayne Taylor, Mr Scott Tyler, Mr Andrew Hoban and Mrs Catherine Pugsley
Advisors: Solicitors Lee Bolton Monier-Williams LLP of 1 The Sanctuary, Westminster, London SW1P 3JT Investment Advisors & Portfolio Rathbones Group plc incorprating Investec Wealth & Managers Investment of 30 Gresham Street, London EC2V 7QN Independent Examiner Thomas Ward FCA Restrictions in the Charity's governing document: The Charity's objects are for education and the relief of poverty. The Charity has no permanent endowment. Investment Powers: The Charity has unrestricted investment powers. The Trustee Act 2000 does not extend the investment powers of the Trustees. Investments The investments are held in the name of the nominee company of Rathbones Group plc incorprating Investec Wealth & Investment or are held by overseas agents to order of Rathbones Group plc incorprating Investec Wealth & Investment .
1 Aims and Organisation
PART B: Narrative Information
The main purposes and objects for which the Charity is established are the furtherance of education, including the payment of school fees, and the relief of poverty. The organisation of the Charity is that it is managed by the Trustees and has no paid staff; under the terms of the Governing Document professional trustees are entitled to be remunerated. The Charity uses professional advisers to carry out administrative tasks in connection with the furtherance of its charitable objects. The Trustees have meetings once or twice each year in which they determine the aims of the Charity during the following period; those aims are then carried out by the authority of two or more of the trustees.
The Charity achieves its objects by making donations to other registered charities and by supporting research.
The original founder of the charity was a partner in Allsop & Co, Chartered Surveyors, Auctioneers and Property Managers. The Trustees bear this in mind when determining the charitable donations to be made, in that they favour donations which have connections with the surveying and property management professions, and support educational projects which are connected with those professions.
The Trustees have maintained the Charity’s aims and organisation without major changes in the year.
Review of Progress and Achievements
During the financial year of the Charity, the Trustees continued to make donations as set out in Schedule III, making a number of major donations (over £2,500) and some smaller donations in order to support charities which the Trustees consider to be particularly deserving, or charities which have a connection with the surveying profession or the firm of Allsop LLP. The Trustees made larger charitable donations during the year comprising:
| The Story of Christmas | £11,500 |
|---|---|
| Jewish Care | £7,500 |
| LandAid | £10,000 |
The total donations were £40,700
- The value of the trust assets at 31 August 2025 was £1,378,340 (31.08.2024 £1,330,410) including cash balances.
Review of Financial activities and affairs
Although the Trust does not have a permanent endowment, the policy of the Trustees is to maintain the capital of the Trust and (subject to the investment policy set out below) to make charitable donations out of the income of the Trust, in order to ensure that the Trust Fund is maintained, and that the charitable intentions of the founder of the Charity can continue in the future.
The trust has received payments from Allsop LLP and its associated companies which comprised balances held by them from rent deposits, purchase deposits and payments on account of rent/service charges. The persons entitled to these balances were not able to be identified by Allsop LLP, and as a result they were donated to the Pat Allsop Charitable Trust, on the basis that if the persons entitled to the funds or a part of them, made a claim against Allsop LLP, the funds would be returned to them. The Trustees have entered into Deeds of Indemnity with Allsop LLP accordingly. The amounts received by the Trust have been shown in the Annual Accounts, and were £40,788 in October 2012, £65,833 in October 2014 and £81,602 in February 2019.
During the year the gross investment income received was £32,458 before expenses, and the total income for the year 2025/26 is estimated to be c £26,380 , so that (after expenses) the amount of income available for donations would be approximately £13,380 . However, the Trustees have decided that the investment of the trust fund should be on a total return basis, as the Trustees consider too much emphasis on an income return reduces the scope to make capital gains, and that a greater overall return can be achieved by investing in this way. The Trust portfolio is now managed with a primarily ‘Growth’ objective and the holdings of fixed interest stocks, which provide a higher yield, have been substantially reduced.
It is the intention of the Trustees to make donations totalling approximately 4% of the value of the trust fund each year, which will amount to c £55,000 based on the current value of the fund, with the excess over the actual income return being funded from the capital of the Trust.
| CAPITAL ACCOUNT Balance at 31 August 2024 ADD Gain on sale of investments Equalisation payments Change in market value LESS Loss on sale of investments Investment management fees Transfers to Income Account Balance at 31 August 2025 |
2025 £ £ 1,330,289.23 6,871.95 0.00 6,871.95 79,404.97 13,750.47 26,000.00 (39,750.47) 1,376,815.68 |
2024 £ £ 1,251,827.01 7,628.40 87.96 7,716.36 107,833.68 0.00 12,087.82 25,000.00 (37,087.82) 1,330,289.23 |
2024 £ £ 1,251,827.01 7,628.40 87.96 7,716.36 107,833.68 0.00 12,087.82 25,000.00 (37,087.82) 1,330,289.23 |
|---|---|---|---|
| 1,330,289.23 |
| INCOME ACCOUNT Balance at 31 August 2024 Income from investments managed by Rathbones: (i) UK Dividends (ii) UK Interest (iii) UK Unit Trust Dividends (iv) Overseas Dividends (v) Overseas Interest (vi) Deposit Interest Untaxed accrued income on sale of Gilts Interest on LBMW client account Advances from Capital Miscellaneous Tom Butterwick & James Theakstone LESS Costs of Lee Bolton Monier-Williams LLP Fees of Independent Examiner Trustees' lunch Charitable donations (Schedule III) Accumulated income (2024/25) Miscellaneous Tom Butterwick & James Theakstone Balance at 31 August 2025 |
2025 £ £ 121.24 6,663.84 623.87 7,776.79 13,168.70 3,065.86 1,159.62 0.00 32,458.68 40.97 26,000.00 500.00 15,011.40 825.00 558.70 (16,395.10) (40,700.00) (501.05) 0.00 1,524.74 |
2024 £ £ 1,421.31 6,422.41 756.18 11,784.78 6,013.77 6,342.10 1,010.24 112.59 32,442.07 166.41 25,000.00 5,721.60 750.00 361.84 (6,833.44) (50,500.00) (1,075.11) (500.00) 121.24 |
2024 £ £ 1,421.31 6,422.41 756.18 11,784.78 6,013.77 6,342.10 1,010.24 112.59 32,442.07 166.41 25,000.00 5,721.60 750.00 361.84 (6,833.44) (50,500.00) (1,075.11) (500.00) 121.24 |
|---|---|---|---|
| 121.24 |
- A payment was made to Tom Butterwick and James Theakstone on the 15 November 2023 which was subsequently reimbursed to the Trustees on the 19 March 2024. This payment should not have been paid from Trust monies and this did not come to light until November 2024 when the position was corrected.
| BALANCE SHEET CAPITAL Balance on Capital Account Represented by: Investments at market value (Schedule II) (book value at 31 August 2025 - £1,047,565 book value at 31 August 2024 £1,077,490) Capital cash at Rathbones Capital monies at Lee Bolton Monier-Williams LLP INCOME Balance on Income Account Represented by: Income monies at Lee Bolton Monier-Williams LLP (including credit of interest/dividends after 31 August) Income cash at Rathbones Income cash at Rathbones paid into capital |
2025 £ £ 1,376,815.68 1,329,472.00 17,180.13 30,163.55 1,376,815.68 1,524.74 280.05 1,036.00 208.69 1,524.74 |
2024 £ £ 1,330,289.23 1,280,220.00 38,905.68 11,163.55 1,330,289.23 121.24 121.24 0.00 0.00 121.24 |
2024 £ £ 1,330,289.23 1,280,220.00 38,905.68 11,163.55 1,330,289.23 121.24 121.24 0.00 0.00 121.24 |
|---|---|---|---|
| 121.24 |
SCHEDULE I – Part I
Sales of Investments
| Date Holding 31.10.2024 155 Aspect Ucits Funds Diversified Trends 13.12.2024 1,500 Matthews Asia Funds China 31.01.2025 UK Govt 0.25% Bonds 31.01.2025 27.02.2025 11,250 Blackrock Frontier 06.03.2025 250 CG Portfolio 12.06.2025 6,200 iShares II plc 18.07.2025 33,000 Schroder Investment Management Global 13.08.2025 144,000 redemption of Aberdeen European Logistics 20.03.2025 Aberdeen Capital Return |
Proceeds Cost 27,207.12 24,763.34 28,875.00 22,950.00 32,300.00 30,010.90 17,891.63 15,402.45 46,735.00 51,802.71 29,608.10 30,304.98 27,644.10 27,408.30 1,440.00 2,107.50 480.00 802.00 £212,180.95 £205,552.18 |
Gain or Loss 2,443.78 5,925.00 2,289.10 2,489.18 (5,067.71) (696.88) 235.80 (667.50) (322.00) 6,628.7700 |
Market Value at 31.08.24 27,850.00 22,335.00 31,795.00 16,397.00 47,108.00 30,375.00 29,449.00 0.00 0.00 £205,309.00 |
Gain or Loss (642.88) 6,540.00 505.00 1,494.63 (373.00) (766.90) (1,804.90) 1,440.00 480.00 |
|---|---|---|---|---|
| 6,871.95 |
SCHEDULE I – Part II
Purchase of Investments
| Holding 80 Ashoka Whiteoak Ashoka India 27,000 UK Govt 0.375% Bonds 22.10.2026 50,000 UK Govt 0.125% Bonds 30.01.2026 2,600 Scottish Mortgage Investment Trust 55 iShares VII plc |
Cost 21,330.40 25,473.25 48,302.54 25,849.20 54,200.64 |
|---|---|
| 175,156.03 |
SCHEDULE II – Investments
| Holding Date of Purchase/S 12,000 Aberdeen Standard European Logistics 03.03.2022 Return of capital 05.03.2025 Re-structure 29.07.2025 12,000 From the Re-structure 144000 Aberdeen European Logistics 29.07.2025 -144000 Redemption 31.07.2025 0 80 Ashoka Whiteoak Ashoka India 18.12.2024 155 Aspect UCITS Funds 06.07.2022 -155 sale 2024-25 0 4000 Brown Advisory Funds Beutel Goodman 26.04.2024 4,300 Baillie Gifford American Fund Units 12.08.2020 5,068 Blackrock Frontier 20.01.2023 6,182 - ditto - 23.01.2023 -11,250 sale 2024-25 27.02.2025 0 311 Blackrock SM 19.04.2024 1,569 - ditto - 24.04.2024 1,880 150 CG Portfolio Fund Real Return A 21.09.2021 less equalisation 100 CG Portfolio Fund Real Return A 03.02.2022 less equalisation -250 sale 2024-25 06.03.2025 0 450 Findlay Park American Hedged Fund Units 18.03.2011 375 - ditto - 12.08.2020 825 8,500 Greencoat UK Wind Plc 1p shares 06.01.2015 17,000 - ditto - 22.03.2018 14,500 - ditto - 15.07.2021 40,000 19,759.19 Henderson European Selected 22.05.2017 15,240.81 - ditto - 12.08.2020 less equalisation 35,000 16,000 INT Public Partner 03.03.2022 1,333 - ditto - 27.04.2022 17,333 |
Cost of Purchase Value at 31.08.2025 £ £ £ 12,024.04 (802.00) (2,107.50) 9114.54 5,640.00 2,107.50 (2,107.50) 0.00 0.00 21,330.40 18,630.00 24,763.34 (24,763.34) 0.00 0.00 57,440.00 55,960.00 57,534.00 74,476.00 6,797.72 8,604.73 (15,402.45) 0.00 0.00 4,235.82 22,039.73 26,275.55 24,515.00 31,516.50 (85.79) 20,438.00 (66.00) (51,802.71) 0.00 0.00 12,104.83 27,240.00 39,344.83 92,829.00 9,458.78 20,672.64 19,112.00 49,243.42 43,640.00 19,124.00 16,094.29 (124.29) 35,094.00 55,335.00 25,601.00 2,126.14 27,727.14 20,834.00 |
|---|---|
| 175 Invesco Physical Secured Gold-Linked Notes 20.05.2016 6200 iShares Ii plc USD Tips Ucits ETF 30.05.2023 -6200 sale 2024-25 12.06.2025 0 950 iShares Physical M 30.04.2024 55 iShares VII plc Nasdaq 100 UCITS ETF 17.07.2025 29,250 Lazard Investment Funds Emerging Markets S 14.12.2022 less equalisation 3,312.4923 Fund switch to Emerging Markets J 32,562.4923 55,000 Man GLG Undervalued Assets Fund Units 12.08.2020 less equalisation 55,000 17500 M&G Investment Fund M&G Japan Sterling 28.06.2023 Accumulated income in 2023-24 Accumulated income in 2023-24 Accumulated income in 2024-25 Accumulated income in 2024-25 17500 1500 Matthews Asia Funds, China I 26.02.2024 -1500 sale 2024-25 13.12.2024 0 11750 Mercantile Investments 23.02.2024 2,600 Scottish Mortgage Investment Trust 23.06.2025 75 Schroder Asian Total Return Fund Units 27.07.2018 35 - ditto - 12.08.2020 -60 sale 2021-22 04.07.2022 209.72 Fund switch Schroder Asian Total Return Z 209.72 32,000 Schroder European Trust Units 15.07.2021 32,000 - ditto - 05.01.2018 less equalisation less equalisation 124,237.57 Fund switch Schroder European Q 33,000 Schroder Global Cities Real Estate Fund Units 04.01.2021 less equalisation -33,000 sale 2024-25 18.07.2025 0 10,000 Schroder Oriental Plc 1p shares 27.01.2021 28,000 Schroder US Smaller Companies Fund Units 05.01.2018 9,000 - ditto - 12.08.2020 less equalisation -17,000 sale 2022-23 26.10.2022 20,000 |
14,808.46 42,991.00 30,304.98 (30,304.98) 0.00 0.00 19,161.26 26,429.00 54,200.64 54,623.00 30,186.00 (202.16) 0.00 29,983.84 41,254.00 60,390.00 (285.00) 60,105.00 96,745.00 25,523.75 20.76 174.56 237.62 230.91 26,187.60 32,837.00 22,950.00 (22,950.00) 0.00 0.00 25,674.75 29,140.00 25,849.20 28,548.00 27,154.12 13,643.02 (22,252.99) 18,544.15 24,366.00 29,036.80 25,785.40 (227.42) (330.78) 54,264.00 72,691.00 27,609.80 (201.50) (27,408.30) 0.00 0.00 27,101.00 30,350.00 34,055.00 12,069.00 (11.00) (21,187.00) 24,926.00 38,480.00 |
|---|---|
| 24,750 Sequoia Economic I NPV 25.05.2023 22,500 Twenty-Four Income Fund 0.1p Shares 12.09.2019 20,000 - ditto - 25.05.2023 42,500 32,300 UK Govt 0.25% Bonds 31.01.2025 25.10.2022 less equalisation -32,300 sale 2024-25 31.03.2025 0 27,000 UK Govt 0.375% Bonds 22.10.2026 20.01.2023 less equalisation 27,000 ditto 04.02.2025 less gross relief 54,000 33,000 UK Govt 0.875% Bonds 31.07.2033 13.11.2023 less gross relief 33,000 50,000 UK Govt 0.125% Bonds 30.01.2026 less gross relief 50,000 6,000 Waystone Fund Services - WS Morant Wright 26.04.2024 less equalisation 6,000 1,225 Vanguard S & P 500 ETF USD Units 12.08.2020 Excess income 1,225 1,850 Vanguard Funds plc FTSE 100 19.07.2024 |
20,296.00 19,478.00 24,620.75 20,261.00 44,881.75 47,685.00 30031.09 (20.19) (30,010.90) 0.00 0.00 24,265.15 (26.98) 25,473.25 (29.48) 49,681.94 52,086.00 24,080.16 (85.53) 23,994.63 25,148.00 48,302.54 (1.04) 48,301.50 49,370.00 31,095.60 (87.96) 31,007.64 38,963.00 59,931.78 32.52 59,964.30 111,818.00 65,527.00 74,611.00 1,047,564.54 1,329,472.00 |
20,296.00 19,478.00 24,620.75 20,261.00 44,881.75 47,685.00 30031.09 (20.19) (30,010.90) 0.00 0.00 24,265.15 (26.98) 25,473.25 (29.48) 49,681.94 52,086.00 24,080.16 (85.53) 23,994.63 25,148.00 48,302.54 (1.04) 48,301.50 49,370.00 31,095.60 (87.96) 31,007.64 38,963.00 59,931.78 32.52 59,964.30 111,818.00 65,527.00 74,611.00 1,047,564.54 1,329,472.00 |
|---|---|---|
| 1,047,564.54 1,329,472.00 |
SCHEDULE III - CHARITABLE DONATIONS
| 29.11.2024 | Chickenshed (donated on 20.06.2024 but reimbursed to Allsop LLP on | £500.00 |
|---|---|---|
| 29.11.2024) | ||
| 29.11.2024 | Vauxhall City Farm (donated on 06.08.2024 but reimbursed to Allsop LLP on | £500.00 |
| 29.11.2024) | ||
| 29.11.2024 | Christina Noble (donated on 10.07.2024 but reimbursed to Allsop LLP on | £400.00 |
| 29.11.2024) | ||
| 29.11.2024 | Bike4Kef 2024 (donated on 23.07.2024 but reimbursed to Allsop LLP on | £250.00 |
| 29.11.2024) | ||
| 29.11.2024 | Human Appeal (donated on 05.09.2024 but reimbursed to Allsop LLP on | £500.00 |
| 29.11.2024) | ||
| 10.12.2024 | The Story of Christmas (annual donation) | £11,500.00 |
| 18.12.2024 | London Music Fund (Scholarship 1 of 4 payments) | £1,000.00 |
| 24.01.2025 | Go Beyond (donated on 18.11.2024 but reimbursed to Allsop LLP on | £500.00 |
| 24.01.2025) | ||
| 24.01.2025 | Samaritans (donated on 18.11.2024 but reimbursed to Allsop LLP on | £100.00 |
| 24.01.2025) | ||
| 24.01.2025 | Movemeber Foundation (donated on 06.01.2025 but reimbursed to Allsop | £500.00 |
| LLP on 24.01.2025) | ||
| 24.01.2025 | Seashell Trust (donated on 06.01.2025 but reimbursed to Allsop LLP on | £200.00 |
| 24.01.2025) | ||
| 27.01.2025 | Cheam School Educational Trust | £1,000.00 |
| 06.03.2025 | The Ashcombe School | £500.00 |
| 14.03.2025 | 50% refund of Jewish Care | £7,500.00 |
| 05.06.2025 | Variety, the Children's Charity | £1,000.00 |
| 05.06.2025 | Blind Veterans UK (donated on 29.04.2025 but reimbursed to Allsop LLP on | £500.00 |
| 05.06.2025) | ||
| 05.06.2025 | St Mungo's (donated on 03.06.2025 but reimbursed to Allsop LLP on | £250.00 |
| 05.06.2025) | ||
| 05.06.2025 | Young lives Vs Cancer (donated on 29.05.2025 but reimbursed to Allsop LLP | £2,000.00 |
| on 05.06.2025) |
| 05.06.2025 Variety, the Children's Charity 05.08.25 LandAid (annual donation) 07.08.2025 CALM |
£1,000.00 £10,000.00 £1,000.00 |
|---|---|
| £40,700.00 |
Investment Reconciliation
| Investment Reconciliation | ||||
|---|---|---|---|---|
| Cost | Market Value | |||
| £ | £ | |||
| As at 31 August 2024 | 1,077,490.16 | 1,280,220.00 | ||
| Sales Proceeds |
212,180.95 | 212,180.95 | ||
| Profit/loss | 6,628.77 | 6,871.95 | ||
| (205,552.18) | (205,309.00) | |||
| Purchases (cost) | 175,156.03 | 175,156.03 | ||
| Accumulated income on holdings | 501.05 | |||
| Equalisation payments | (30.52) | |||
| Change in market value | 79,404.97 | |||
| 1,047,564.54 | 1,329,472.00 |
Report of the Independent Examiner to the Trustees of Pat Allsop CharitableTrust (Charity number 1030950)
I report on the accounts of Pat Allsop Charitable Trust for the year ended 31st August 2025, which comprise the Capital Account, the Income Account, the Balance Sheet, and schedules of Investment Disposals, Securities and Donations.
This report is made solely to the Charity’s Trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. My examination 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 examination, for this report, or for the opinions I have formed.
Respective responsibilities of Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
-
To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and
-
To state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
a) which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 145 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
5, Market Yard Mews Thomas Ward FCA 194-204 Bermondsey Street Lonsdale Ward Limited London SE1 3TQ 25[th ] March 2026