**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **FOR**
**CLARA MARTINEAU CHARITY**
**REGISTERED CHARITY NO. 1040051**
**Clara Martineau Charity**
Contents of the Financial Statements for the Year Ended 31 March 2026
||Page|
|---|---|
|Charity Reference and Administrative Information|1|
|Report of the Trustees|2|
|Independent Examination Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8|
## **Clara Martineau Charity**
## **Charity Reference and Administration Information for the Year Ended 31 March 2026**
## **Reference and administrative information**
## **Trustees**
S Charvis, Chair of Trustees S Durrant Cllr P Tilsley Cllr D Donaldson Cllr D Clancy Cllr Z Iqbal - resigned 13 May 2025 D Fountain T McCarroll appointed 18 November 2025 A Carter appointed 18 November 2025
## **Principal Office**
## **Charity Number**
1040051
## **Independent Examiner**
Neil Harris FCA BSC (Hons) Cygnet Accounting Limited 37 Rossell Drive Stapleford Nottingham NG9 7EG
## **Investment Managers**
CCLA, 1 Angel Lane, London EC4R 3AB
**Clara Martineau Charity**
## **Report of the Trustees**
## **for the Year Ended 31 March 2026**
## **Report of the trustees for the year ended 31 March 2026**
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2026. The financial statements have been prepared in accordance with relevant accounting policies and comply and Reporting by Charities (FRS 102).
## **Structure, Governance and Management**
The Clara Martineau Trust is a registered charity, number 1040051, and is governed by its Charity Commission Scheme.
The Trust employs no staff. Administrative, secretarial, financial and legal services are currently provided by Birmingham City Council, previously for no charge, but from 1 June 2015 the Trust have agreed to pay for these services. The trustees meet about three times a year to consider applications for funding which have been received.
## **Risk management**
The trustees work closely with the Fund Managers, CCLA, in seeking to maximise investment returns consistent potentially be exposed to and appropriate policies developed in response.
## **Objectives and activities**
The Trust has capital funds, which are invested in order to produce income for the following purposes: -
- (a) to promote the residential education (including the social and physical training) of children under the age of 19 years who have special educational needs as defined in section 1 of the Education Act 1993, and who are attending any school maintained by Birmingham City Council as local education authority, priority being given to such children for whom the City Council maintain a Statement under the Act.
- (b) to provide facilities for recreation and other leisure time occupation for the benefit of such children with the object of improving their condition of life, with the same priority as aforesaid
## **Grant making policy**
Trust, each year the trustees consider bids, from Special Schools and schools with special needs resource bases in Birmingham, to fund proposals for residential experiences to promote the educational needs of the children with special needs.
2
## **Clara Martineau Charity**
## **Report of the Trustess**
## **for the Year Ended 31 March 2026**
## **Achievements and Performance**
The year proved very successful in terms of the number of grants and amount of funds awarded The standard of applications was consistently high, and Trustees were able to make a significant number of grants in the year.
## **Financial Review**
The Trust is reliant on the income from its investments.
The fund comprises capital funds received from the sale of the Martineau Seaside School, Bognor Regis, reflecting - the right to spend the capital of the fund, in furthering the objectives of the Trust, if they so determine to do so.
Investment Management was carried out by CCLA, in accordance with the requirements for charities as prescribed decreased to £4,891,309 from 5,347,177. 6 are mainly represented by a balance of monies owed to Birmingham City Council of £252,633 (2025: £309,911). This liability can be met by the Charity in full.
## **Investment Policy and Performance**
The Trust seeks to maximise its return on investments but consistent with a policy of low investment risk. The Trust works closely with the Fund manager to regularly review its investment mix and re-configures its portfolio depending on current investment trends. The Trust also has access to investment expertise through Council Officers who regularly attend meetings.
The fund management objectives are to;
- i) protect the value of the fund against inflation so that its real value at least can be maintained in the long term,
- ii) subject to i), to maximise the income to the fund available for spending,
- iii) subject to i) and ii), the income level from year to year should be reasonably steady to avoid any large reductions in resources in any year. Investments are of low to moderate risk.
## **Reserves Policy**
In determining a policy on financial reserves, Trustees of the Clara Martineau Trust have formally reviewed the to eligible schools and other organisations. These are based on a clearly defined level of income and, other than annual investments charges, the Trust does not normally incur any other costs.
Exposure to other potential financial liabilities is therefore minimal. Trustees are keen to ensure that all available funding net of expenses is applied to further the purposes and objectives of the Trust. The Trustees policy on reserves therefore is to maintain nil reserves or minimal reserves. Trustees are satisfied that this is a reasonable and expenditure and potential financial liabilities.
3
## **Clara Martineau Charity**
## **Report of the Trustess - continued for the Year Ended 31 March 2026**
## **Plans for the Future**
Trustees are keen to ensure all special schools and other organisations that meet its criteria apply for grants in activities are made known to a wider audience.
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and 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 the incoming resources and application of resources of the charity 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 in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 operation.
The trustees are responsible for keeping accounting records that 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, the Charity (Accounts and Reports) Regulations 2008 and 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.
The Trustees of the Clara Martineau Charity are satisfied that the above requirements have been met.
Approved by the trustees on 17 June 2026 and signed on their behalf by:
**S CHARVIS ............................................................. CHAIR of TRUSTEES**
4
## **Clara Martineau Charity**
## **Independent Examiner's Report to the Trustees of Clara Martineau Charity**
I report on the accounts of the charity for the year ended 31 March 2026 which are set out on pages 6 to 12.
## **Respective responsibilities of Trustees and Examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that 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;
- follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Statement**
My examination was carried out in accordance with General Directions given by the Charity Commission. 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 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 no opinion is given as to whether below.
## **Independent Examiner's Statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 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
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Neil Harris FCA BSc (Hons) Cygnet Accounting Limited 37 Rossell Drive Stapleford Nottingham NG9 7EG
Date:
5
## **Clara Martineau Charity**
## **Statement of Financial Activities**
## **For the year ended 31 March 2026**
|**Notes**
**Income**
**2**
Voluntary income
Investment income:
Managed funds
Bank interest
Other income
**Total Income**
**Expenditure**
Charitable activities:
Grants Awarded
**3**
Investment Management Costs
Independent Examiners Fees
Other costs
Governance and Support Costs
**13**
**Total Expenditure**
**Net Income/(Expenditure)**
Other recognised gains and
losses :
Gains/(Losses) on Investment
Assets
Transfer between funds
**Net Movement in Funds:**
**Fund balance brought forward**
**4**
**Fund balance carried forward**|**Restricted**
**Funds**
**2026**
**£**
-
182,799.30
-
-
182,799.30
250,000.00
-
1,250.00
-
1,383.21|**Endowment**
**Funds**
**2026**
**£**
-
-
-
-
-
-
-
-
-
-|**Total**
**Funds**
**2026**
**£**
**-**
**182,799.30**
**-**
**-**
**182,799.30**
**250,000.00**
**-**
**1,250.00**
**-**
**1,383.21**|Total
Funds
2025
£
-
187,724.71
-
-|
|---|---|---|---|---|
|||||187,724.71|
|||||160,429.00
-
1,250.00
-
1,719.12|
||252,633.21|-|**252,633.21**|163,398.12|
||(69,833.91)|-|**(69,833.91)**|24,326.59|
||-
-|(455,868.51)
-|**(455,868.51)**
**-**|(261,311.91)
-|
||**(69,833.91)**|**(455,868.51)**|**(525,702.42)**|(236,985.32)|
||650,253.67|5,177,177.30|**5,827,430.97**|6,064,416.29|
||**580,419.76**|**4,721,308.79**|**5,301,728.55**|5,827,430.97|
6
## **Clara Martineau Charity**
|**Balance Sheet as at 31 March 2026**
**Notes**
**FIXED ASSETS 5**
Investments
**TOTAL FIXED ASSETS**
**CURRENT ASSETS 6**
Debtors
Cash
**LIABILITIES 7**
Creditors: Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**THE FUNDS OF THE CHARITY: 8**
Restricted Income
Endowment Fund
**TOTAL CHARITY FUNDS**|**2026**
**£**
**4,891,308.79**
**4,891,308.79**
**591,030.01**
**72,022.96**
**663,052.97**
**252,633.21**
**252,633.21**
**410,419.76**
**5,301,728.55**
**580,419.76**
**4,721,308.79**
**5,301,728.55**|2025
£
5,347,177.30
5,347,177.30
721,229.80
68,935.13|
|---|---|---|
|||790,164.93
309,911.26|
|||309,911.26|
|||480,253.67
5,827,430.97
650,253.67
5,177,177.30
5,827,430.97|
The accounts were approved by the board of trustees on 17 June 2026 and signed on their behalf by:
**S CHARVIS**
7
## **Clara Martineau Charity**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## 1 **Accounting Policies**
## 1.1 **Basis of accounting**
These financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, the Charities Act and in accordance with the Statement of Recommended Republic of
## 1.2 **Incoming resources**
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
## 1.3 **Resources expended**
Expenditure is accounted for on an accruals basis. Grants awarded, once approved, are included in the Statement of Financial Activities for the year in which the related activity is to take place.
Investment management costs are directly attributable to management of the fixed asset investment portfolio.
Governance costs are associated with the general running of the charity and include the costs of, an independent examination, legal advice for trustees and costs associated with the constitutional and statutory requirements of the charity.
## 1.4 **Fixed asset investments**
Fixed asset investments that are traded on a recognised exchange are valued on the basis of the last traded price or a bid price, depending on the market convention for that exchange. Other investments are valued where practicable on a bid price basis using a reputable independent source.
Gains or losses on revaluation or disposal are shown in the Statement of Financial Activities.
Dividends and interest received on investments are held on deposit by the fund managers until required to meet the expenditure of the charity (note 5).
## 1.5 **Funds**
Restricted Funds: These are funds subject to specific trusts declared by the donor or created through legal process. The restricted income funds are expendable at the discretion of the trustees in furtherance of the objects of the charity (note 8).
Endowment Funds: These are the permanent funds of the charity, the income generated from which is used to further the objects of the charity as part of its restricted funds (note 8).
8
## **Clara Martineau Charity**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## 2 **Income**
|Investment Income
Managed Funds
Dividends from investments
Interest from investments
**Total income Resources**|**2026**
**£**
**157,116.52**
**25,682.78**
**182,799.30**|2025
£
152,532.60
35,192.11
187,724.71|
|---|---|---|
## 3 **Charitable activities: grants awarded**
During the year the trustees approved grant applications totalling £250,000 (2025: £160,429) which were paid to fund projects for the provision of residential education and other recreational or leisure time experiences for young people with special educational needs. Grants awarded have been listed below, those £10,000 or over have been listed separately:
|Hamilton
Baskerville
Victoria
Pines
Wilson Stuart
Uffculme
Hallmoor
Mayfield
Queensbury
Selly Oak
Calthorpe
Other grants <£10,000
**Total grants**|**2026**
**£**
11,675.08
11,823.86
13,303.68
15,661.54
15,661.54
16,355.95
16,784.95
18,656.36
21,557.59
22,933.11
24,646.85
60,939.49|
|---|---|
||**250,000.00**|
## 4 **Summary of fund movements**
|Endowment fund
Restricted fund
**Total funds**|Balance at
01/04/2025
5,177,177.30
650,253.67
5,827,430.97|Incoming
Resources
-
182,799.30
182,799.30|Outgoing
Resources
-
(252,633.21)
(252,633.21)|Gains and
Losses
(455,868.51)
-
(455,868.51)|Balance at
31/03/2026
4,721,308.79
580,419.76|
|---|---|---|---|---|---|
||||||
5,301,728.55|
9
## **Clara Martineau Charity**
## **Notes to the Financial Statements**
## **for the year ended 31 March 2026**
|5
**Fixed Asset Investments**
**Analysis of movement of investments**
Market value 1st April
Additions at cost
Disposals
Net gain/(loss) on revaluation
**Market value 31 March**
At the balance sheet date the investments
comprised:
Investments listed on a recognised stock exchange
Cash and settlements pending
**Total investment portfolio**|**2026**
**£**
**5,347,177.30**
**-**
**-**
**(455,868.51)**
**4,891,308.79**
**4,891,308.79**
**-**
**4,891,308.79**|2025
£
5,608,489.21
-
-
(261,311.91)|
|---|---|---|
|||5,347,177.30|
|||5,347,177.30
-|
|||5,347,177.30|
The investment portfolio was managed on behalf of the charity by CCLA. This company is authorised and regulated by the Financial Conduct Authority. Investments are held primarily for an investment return.
|6
**Debtors**
Cash held on deposit by the investment fund managers
Interest and investment income
The above are all short term debtors.
7
**Creditors: Amounts falling due within one year**
Birmingham City Council loan
Accrued expenses|**2026**
**£**
**587,888.44**
**3,141.57**
**591,030.01**
**2026**
**£**
**252,633.21**
**-**
**252,633.21**|2025
£
716,957.82
4,271.98|
|---|---|---|
|||721,229.80|
|||2025
£
309,911.26
-|
|||309,911.26|
The loan from Birmingham City Council represents grants, accountancy fees, staff recharges and other miscellaneous expenses paid on behalf of the charity, which had not been reimbursed at the balance sheet date. The loan is unsecured and interest free.
10
## **Clara Martineau Charity**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## 8 **Allocation of net assets to funds**
|Endowment funds
Restricted funds|Fixed
Assets
4,891,308.79
-
**4,891,308.79**|Net Current
Assets
(170,000.00)
580,419.76
**410,419.76**|Net
Assets
4,721,308.79
580,419.76
**5,301,728.55**|
|---|---|---|---|
## 9 **Employees**
The charity has no employees. Administrative, secretarial, financial and legal services are currently provided by Birmingham City Council, and are recharged to the Trust.
Calculations will be based upon time recording and relevant hourly staff rates.
- 10 **Trustees' remuneration and expenses**
No trustee received remuneration or expenses from the Charity during either this or the preceding year.
- 11 **Taxation**
No taxation liability arises on the net incoming resources of the charity for either this or the preceding year.
## 12 **Independent Examination Fees**
Costs for 2026 of £1,250.00 are included in the accounts (2025: £1,250.00).
## 13 **Governance Costs**
Governance costs are made up of the following:
|Governance costs
Meeting costs
Room hire and other costs
Support costs
Supervision
**Total**||**2026**
**£**
**1,132.24**
**-**
**1,132.24**
**250.97**
**1,383.21**||2025
£
1,241.33
-
1,241.33
477.79
1,719.12|
|---|---|---|---|---|
Governance and charity support costs are worked out by taking the daily rate of support workers salary and multiplying out by the days worked on the Clara Martineau Charity.
11
## **Clara Martineau Charity**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## 14 **Services and facilities recharged**
The charity is provided with administrative, secretarial, financial and legal services by Birmingham City Council. The cost of these services are recharged to the Trust. The value of these services has been calculated at £1,383.21 (2025: £1,719.12). This has been reflected in the Statement of Financial Activities. The chargeable element has been calculated using staff time recording and applicable hourly rates.
## 15 **Related party transactions**
Birmingham City Council is a related party of Clara Martineau Charity by virtue of the powers vested in it by the trust deed to appoint or remove a significant proportion of the trustees of the charity. During the year Birmingham City Council made loans to the charity, provided services and facilities and paid certain expenses on behalf of the charity as disclosed in notes 7 and 14 above.
12