2025-03-01-accounts

Trustees’ Annual Report for the period

From 02 March 2024 To 01 March 2025

Charity name: The Heald Charitable Trust Charity registration number: 1045914 Objectives and Activities

Charity name: The Heald Charitable Trust Charity registration number: 1045914 Objectives and Activities	Charity name: The Heald Charitable Trust Charity registration number: 1045914 Objectives and Activities	Charity name: The Heald Charitable Trust Charity registration number: 1045914 Objectives and Activities
SORP reference
Summary of the purposes of the charity as set out in its governing document Para 1.17 The objects of the charity are: To apply the income and all or such parts of the capital benefit of such one or more charities or charitable purposes as the settlor may by notice in writing appoint and subject to and in default of any such appointment as the trustees may in their absolute discretion think fit.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17 and 1.19 In furtherance of the charity’s objects for the public benefit the trustees provide grants.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	In determining the charity’s activities, the trustees have had regard to the Charity Commission’s guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Policy on grant making Para 1.38 Policy on social investment Para 1.38 including program related investment Contribution made by Para 1.38 volunteers Other

Achievements and Performance

SORP reference Summary of the main Para 1.20 achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other

Financial Review

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Review of the charity’s Para 1.21 At the end of the reporting period the charity
financial position at the end had free reserves of £40,795 (2024:
£8,100.00).
of the period
In addition to the free reserves the charity
has bank balances of £13,194 (2024:
£7,047) and investments valued at
£1,333,237 within the expendable
endowment fund which can be released to
support the activities of the charity.
Statement explaining the Para 1.22 The Trustees pursue a policy of maintaining
policy for holding reserves a free reserve available to be spent in the
furtherance of the charity’s objectives as
stating why they are held
well as covering future needs, opportunities,
contingencies and risks.
Amount of reserves held Para 1.22
Reasons for holding zero Para 1.22
reserves
Details of fund materially in Para 1.24
deficit
Explanation of any Para 1.23
uncertainties about the
charity continuing as a going
concern
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Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) Para 1.47
Investment policy and objectives including any social investment policy adopted Para 1.46
A description of the principal risks facing the charity Para 1.46
Other		Expendable endowment funds are those which are required to be invested to produce income, but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives. Unrestricted income funds 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.

Structure, Governance and Management

Structure, Governance and Management	Structure, Governance and Management	Structure, Governance and Management
Description of charity’s trusts:
Type of governing document (trust deed, royal charter) Para 1.25 Trust deed dated 01 March 1995
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Trust

Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are appointed by the Founder and by trustees from time to time, so that the total number of trustees shall not exceed eight at any one time.

Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures Para 1.51 adopted for the induction and training of trustees

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees Para 1.51
The charity’s organisational structure and any wider network with which the charity works Para 1.51
Relationship with any related parties Para 1.51 No trustee received any remuneration or was reimbursed any expenses in the year under review. Ludlow Trust Company Limited was paid £9,551 (2024: £4,781) for trust administration and cash management services during the year under review. These fees are authorised under clause 14 of the trust deed.
Other

Reference and Administrative details

Reference and Administrative details	Reference and Administrative details
Charity name The Heald Charitable Trust
Other name the charity uses
Registered charity number 1045914
Charity’s principal address	Ludlow Trust Co Ltd Tower Wharf Cheese Lane BRISTOL BS2 0JJ

Names of the charity trustees who manage the charity

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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
Ludlow Trust
1
Company Limited
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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Corporate trustees names of the directors at the date the report was approved
Director name
Gary St John Collins
Walter Duncan Coxon
Ali Reza Sarikhani
Ziba Christina Sakine
Sarikhani
Christopher Ian Thurlow
Matthew John Wickers
John Stephen Dennis (resigned 25/10/24)
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Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser	Name	Address
Investment Managers	NatWest	2ndFloor, Trinity Quay II, Avon Street, Bristol BS2 2DH
Bankers	NatWest	2ndFloor, Trinity Quay II, Avon Street, Bristol BS2 2DH
Accountants	Charter Tax Consulting	8thFloor, 1 Southampton Street, London, WC2R 0LR
Independent Examiner	Geoffrey Frost	Blue Spire Ltd, Cawley Priory, South Pallant, Chichester, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

~~OO~~

Exemptions from disclosure

Reason for non-disclosure of key personnel details

~~PT~~ Other optional information ~~PT~~

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Chris Thurlow ~~a~~ Position (eg Secretary, On behalf of Ludlow Trust Chair, etc) ~~e~~ Company Limited (Trustee) ~~s~~ Date 23 December 2025 ~~fF~~

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|||||||||| |---|---|---|---|---|---|---|---|---| |The Heald Charitable Trust|1045914| |Receipts and payments accounts|CC16a| |For the period|Period start date|Period end date| |To| |from|02.03.2024|01.03.2025| |es|ee||| |Section A Receipts and payments| |Unrestricted|Restricted|Endowment| |Total funds|Last year| |funds|funds|funds| |to the nearest £|to the nearest £|to the nearest £|to the nearest £|to the nearest £| |A1 Receipts| |Income from investments|31,688|-|31,688|31,926| |Interest received|1,651|-|-|1,651|1,123| |-|-|-|-|-| |-|-|-|-|-| |-|-|-|-|-| |-|-|-|-|-| |-|-|-|-|-| |-|-|-|-|-| |Sub total|(Gross income for| |AR)|[ 33,339 ]|-|-|33,339|33,049| |A2 Asset and investment sales,| |(see table).| |Sale of investments|-|-|839,346|839,346|869,769| |-|-|-|-|-| |Sub total|-|-|839,346|839,346|869,769| |Total receipts|33,339|-|839,346|872,685|902,818| |S55|5|=| |A3 Payments| |Grants awarded|-|-|-|-|31,277| |Investment management fees (incl VAT)|-|-|5,610|5,610|5,233| |Trust administration fees (incl VAT)|9,504|-|-|9,504|4,781| |Cash Management Fees|47|-|-|47|-| |Examiners Fee|510|-|-|510|-| |Accounts Fee|600|-|-|600|-| |-|-|-|-|-| |-|-|-|-|-| |-|-|-|-|-| |Sub total|[ 10,661 ]|-|5,610|16,271|41,291| |A4 Asset and investment| |purchases, (see table)| |Investment purchases|-|-|817,573|817,573|884,065| |-|-|-|-| |Sub total|[ - ]|-|817,573|817,573|884,065| |S5|Total payments|10,661|-|55|823,183|833,844|925,356| |Net of receipts/(payments)|22,678|-|16,164|38,842|- 22,538| |A5 Transfers between funds|10,017|- 10,017|-|-| |A6 Cash funds last year end|8,100|7,047|15,147|37,685| |Cash funds this year end|——=—S=|40,795|-|13,194|>=|53,989|>|15,147|

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CCXX R1 accounts (SS)

22/12/2025

1

Section B Statement of assets and liabilities at the end of the period

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|||||| |---|---|---|---|---| |Unrestricted|Restricted|Endowment| |Categories|Details|funds|funds|funds| |to nearest £|to nearest £|to nearest £| |B1 Cash funds|Capital account|-|-|13,194| |Income account| |40,795|-|-| |-|-|-| |Total cash funds|40,795|-|13,194| |Se| |(agree balances with receipts and payments| |account(s))|OK|OK|OK| |5| |Unrestricted|Restricted|Endowment| |funds|funds|funds| |Details|to nearest £|to nearest £|to nearest £| |B2 Other monetary assets|-|-|-| |-|-|-| |-|-|-| |-|-|-| |-|-|-| |-|-|-| |—_—| |Fund to which|Current value| |Details|asset belongs|Cost (optional)|(optional)| |B3 Investment assets|Investment portfolio|Endowment|-|1,333,237| |-|-| |-|-| |-|-| |-|-| |=|S=| |Fund to which|Current value| |Details|asset belongs|Cost (optional)|(optional)| |B4 Assets retained for the|-|-| |charity’s own use|-|-| |-|-| |-|-| |-|-| |-|-| |-|-| |-|-| |-|-| |a| |Fund to which|Amount due|When due| |Details|liability relates|(optional)|(optional)| |B5 Liabilities| |-| |-| |-| |-| |Signed by one or two trustees on|Date of| |behalf of all the trustees|Signature|Print Name|approval| |Chris Thurlow on behalf of Ludlow| |23 December 2025| |Trust Company Limited (Trustee)| |—| |2|22/12/2025|

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CCXX R2 accounts (SS)

22/12/2025

Independent Examiner's Report to the Trustees of The Heald Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 01 March 2025.

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:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. 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.

Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

23 December 2025