Trustees’ Annual Report for the period
From 07 June 2024 To 06 June 2025
Charity name: The Kathleen Smith Foundation Charity registration number: 1060505
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, to or for the benefit of such exclusively charitable purposes in any part of the world and in such manner as the Trustees may in their absolute discretion think fit. The Trustees will take into account the Letter of Wishes, which requests that consideration be given to benefit the following charities: Benenden Hospital Field Land Foundation Barnardos The Horder Centre RNIB RNLI Musicians Benevolent Fund National Trust Save the Children Moorfields Eye Hospital MacMillan Cancer Support Cancer Research UK St Christopher’s Hospice Eltham College British Red Cross CLIC Sargent (formerly Malcolm Sargent Cancer Fund) |
| 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 in accordance with the Letter of Wishes. |
| 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 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. |
Para 1.20 | During the year under review the charity made grant awards of £35,119 each to: Cancer Research UK RNIB RNLI Barnardos |
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
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | In addition to the free reserves the charity has bank balances of £29,489 (2024: £25,542) and investments valued at £2,745,158 within the expendable endowment fund. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives as well as covering future needs, opportunities, contingencies and risks. |
| Amount of reserves held | Para 1.22 | At the end of the reporting period the charity had free reserves of £59,830 (2024: £113,777). |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | No funds in deficit |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
| Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant 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
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document | Para 1.25 | Trust deed dated 6 January 1997 |
| How is the charity constituted? |
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 existing trustees. |
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 The charity’s organisational Para 1.51 structure and any wider network with which the charity works
| 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 £15,287 (2024: £18,937) for trust administration services and cash management fees during the year under review. These fees are authorised under clause 14 of the trust deed. |
| Other |
Reference and Administrative details
| Charity name | The Kathleen Smith Foundation |
|---|---|
| Other name the charity uses | None |
| Registered charity number | 1060505 |
| Charity’s principal address | Trustees Department 1stFloor, Tower Wharf Cheese Lane, Bristol BS2 0JJ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 |
Trustee name Ludlow Trust CompanyLimited |
Office (if any) | Office (if any) | Dates acted if not for whole **year ** |
Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|---|---|
| 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 on 25/10/2024 |
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 |
N/A | |
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A | |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of adviser | Name | Address |
|---|---|---|
| Investment Managers | NatWest Bank Plc | 2ndFloor, Trinity Quay II, Avon Street, Bristol, BS2 2DH |
| Bankers | NatWest Bank Plc | 2ndFloor, Trinity Quay II, Avon Street, Bristol, BS2 2DH |
| Accountants | Charter Tax Consulting Limited |
8th Floor, 1 Southampton St, London WC2R 0LR |
| Independent examinator |
Katie Wilson | Blue Spire Limited, Cawley Priory, South Pallant, Chichester, PO19 1SY |
Exemptions from disclosure
Reason for non-disclosure of key personnel details
~~BC~~ Other optional information ~~BC~~
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) | Signature(s) |
|---|---|
| Full name(s) | Full name(s)Chris Thurlow |
| Position (eg Secretary, | On behalf of Ludlow Trust |
| Chair, etc) | Company Limited (Trustee) |
| Date | 06 March 2026 |
The Kathleen Smith Foundation 1060505 Receipts and payments accounts For the period Period start date Period end date To from 07.06.2024 06.06.2025 ~~ee ee ee~~ Section A Receipts and payments
CC16a
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | ||||||||||
| Income from investments | 55,213 | - | - | 55,213 | 109,720 | |||||
| Interest received | 5,801 | - | - | 5,801 | 3,757 | |||||
| - | - | - | ||||||||
| - | - | - | - | |||||||
| - | - | - | - | - | ||||||
| - | - | - | - | - | ||||||
| - | - | - | - | - | ||||||
| - | - | - | - | - | ||||||
| Sub total(Gross income for | (Gross income for | |||||||||
| AR) | AR)61,014 | - | - | 61,014 | 113,477 | |||||
| A2 Asset and investment sales, (see table). Sale of investments - - 1,478,952 1,478,952 2,009,739 - - - - - ~~Sub total~~- - 1,478,952 1,478,952 2,009,739 Total receipts 61,014 - 1,478,952 1,539,966 2,123,216 ~~———_———~~ |
||||||||||
| A3 Payments | ||||||||||
| Grants awarded | 140,476 | - | - | 140,476 | 128,000 | |||||
| Investment manager fees(VAT inclusive) | - | - | 13,038 | 13,038 | 18,075 | |||||
| Trust administration fees(VAT inclusive) | 15,109 | - | - | 15,109 | 18,812 | |||||
| Independent examiners fee | 180 | - | - | 180 | 780 | |||||
| AccountancyFees | 600 | - | - | 600 | - | |||||
| Cash management fees | 178 | - | - | 178 | 125 | |||||
| - | - | - | - | - | ||||||
| - | - | - | - | - | ||||||
| - | - | - | - | - | ||||||
| **Sub total ** | 156,543 | - | 13,038 | 169,581 | 165,792 | |||||
| A4 Asset and investment purchases, (see table) Investmentpurchases - - 1,420,385 1,420,385 1,929,893 - - - - Sub total - - 1,420,385 1,420,385 1,929,893 Total payments 156,543 - 1,433,423 1,589,966 2,095,685 ~~—————~~ |
||||||||||
| Net of receipts/(payments) - 95,529 - 45,529 - 50,000 27,531 A5 Transfers between funds 41,582 - 41,582 - - A6 Cash funds last year end 113,777 25,542 139,319 111,788 Cash funds this year end 59,830 - 29,489 89,319 139,319 ~~SS]5554~~ |
CCXX R1 accounts (SS)
06/03/2026
1
Section B Statement of assets and liabilities at the end of the period
| Unrestricted Restricted |
Endowment | |||||
|---|---|---|---|---|---|---|
| Categories | Details | funds funds |
funds | |||
| to nearest £ to nearest £ |
to nearest £ | |||||
| B1 Cash funds | - - 29,489 59,830 - - - - - 59,830 - 29,489 Capital account Income account Total cash funds ~~See=~~ |
|||||
| (agree balances with receipts and payments | (agree balances with receipts and payments | |||||
| account(s)) | OK OK |
OK | ||||
| Unrestricted Restricted |
Endowment | |||||
| funds funds |
funds | |||||
| Details | to nearest £ to nearest £ |
to nearest £ | ||||
| B2 Other monetary assets | - - - - - - - - - - - - - - - - - - ~~—__~~ |
|||||
| B3 Investment assets | Fund to which asset belongs Cost (optional) Current value (optional) Endowment - 2,745,158 - - - - - - - - Details Investment portoflio ~~===>~~ |
|||||
| B4 Assets retained for the charity’s own use |
Fund to which asset belongs Cost (optional) Current value (optional) - - - - - - - - - - - - - - - - - - Details ~~a~~ |
|||||
| Fund to which Amount due |
When due | |||||
| Signed by one or two trustees on behalf of all the trustees B5 Liabilities CCXX R2 accounts (SS) |
liability relates (optional) (optional) - - - - Date of approval Print Name Chris Thurlow on behalf of Ludlow Trust CompanyLimited(Trustee) Signature Details 2 06/03/2026 06 March 2026 ~~—~~ |
Independent Examiner's Report to the Trustees of The Kathleen Smith Foundation
I report to the charity trustees on my examination of the accounts of the charity for the year ended 6 June 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:
-
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.
Katie Wilson FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Date 06 March 2026