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← The Margaret Gladys Grimes Charitable Trust

2025-10-23-accounts

Trustees’ Annual Report for the period

From 24 October 2024 To 23 October 2025

Charity name: The Margaret Gladys Grimes Charitable Trust Charity registration number: 1067370

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 To hold the capital and income upon trust to
apply the income and all or such parts of the
capital at such time or times and in such a
manner to or for the benefit of such
exclusively charitable objects and purposes
in any part of the world 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
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
did not make any grants.

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 £13,117 (2024:
£6,190)
and
investments
valued
at
£1,004,209
within
the
expendable
endowment fund which can be released to
support the activities of the charity.
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 £42,571 (2024:
£21,424).
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) You may choose to include further statements where relevant about: The charity’s principal Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any social investment policy adopted A description of the principal Para 1.46 risks facing the charity Expendable endowment funds are those which are required to be invested to produce Other 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 Structure, Governance and Management and Management
Description of charity’s
trusts:
Type of governing document Para 1.25 Trust deed dated 23 October 1997
How is the charity Para 1.25 Trust
constituted?
Trustee selection methods Para 1.25 Trustees are appointed by the trustees from
including details of any time to time.
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
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 for any expenses in the
year under review.
Ludlow Trust Company (Southampton) Ltd
was paid £2,441 (2024: £1,168) for trust
administration fees during the year under
review. These fees are authorised under
clause 6 of the trust deed.
HSBC was paid £11,399 (2024: £7,557) for
trust
administration
and
investment
management fees during the year under
review. These fees are authorised under
clause 6 of the trust deed.
These fees are authorised under clause 6 of
the trust deed.
Other

Reference and Administrative details

Charity name The Margaret Gladys Grimes Charitable Trust
Other name the charity uses None
Registered charity number 1067370
Charity’s principal address Ludlow Trust Co (Southampton) Limited, Yarmouth House,
1300 Parkway, Solent Business Park, Whiteley, PO15 7AX

Names of the charity trustees who manage the charity

1
2
3		 Trustee name 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 (if any)
Ludlow Trust
Company
(Southampton)
Limited		 01/03/2025
Lee Daniel Topp
AntonyTrevor Fryers
Corporate trustees– names of the directors at the date the report was approved
Director name
Gary St John Collins
Walter Duncan Coxon
Christopher Ian Thurlow
Matthew John Wickers

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 HSBC Bank PLC 1 Centenary Square, Birmingham, B1
1HQ.
Bankers HSBC Bank PLC 1 Centenary Square, Birmingham, B1
1HQ.
Accountants Charter Tax Consulting
Limited		 8th Floor, 1 Southampton St, London
WC2R 0LR
Independent Examiner James O’Rourke Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, PO19 1SY

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

Exemptions from disclosure

Reason for non-disclosure of key personnel details

~~OT~~ Other optional information ~~OO~~

Declarations

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

Signed on behalf of the charity’s trustees

Signature(s) ~~ce~~ Full name(s) Christopher Thurlow Position (eg Secretary, On behalf of Ludlow Trust Chair, etc) Company (Southampton) Limited ~~——a~~ (Trustee) ~~—~~ Date 27 March 2026 ~~|~~

1067370
The Margaret Gladys Grimes Charitable Trust
CC16a
Receipts andpayments accounts
24/10/2024
23/10/2025
Period start date
Period end date
To
For the period
from
Section A Receipts and payments
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 £
A1 Receipts
Income From Investments
23,391
-
-
23,391
13,782
Interest Received
1,090
-
-
1,090
242
-
-
-
-
-
-
-
-
-
-
Sub total(Gross income for
AR)
24,481
-
-
24,481
14,024
~~——~~
A2 Asset and investment sales,
(see table).
Sale Of Investments
-
-
435,209
435,209
178,317
-
-
-
-
-
Sub total -
-
435,209
435,209
178,317
Total receipts
24,481
-
435,209
459,690
192,341
~~———————~~
A3 Payments
Investment Manager Fees
-
-
9,437
9,437
4,051
Trust Administration Fees
4,403
-
-
4,403
4,674
AccountancyFees
600
-
-
600
-
Legal Fees
420
-
-
420
-
-
-
-
-
-
-
-
-
-
-
Sub total 5,423
-
9,437
14,860
8,725
A4 Asset and investment
purchases, (see table)
Investment Purchases
-
-
416,756
416,756
172,614
-
-
-
-
Sub total -
-
416,756
416,756
172,614
Total payments
5,423
-
426,193
431,616
181,339
Net of receipts/(payments)
19,058
-
9,016
28,074
11,002
A5 Transfers between funds
2,089
- 2,089
-
-
A6 Cash funds last year end
21,424
6,190
27,614
16,612
Cash funds this year end
42,571
-
13,117
55,688
27,614
~~——= ====~~
~~——————~~
~~=~~
~~==~~

CCXX R1 accounts (SS)

26/03/2026

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period 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 -
-
13,117
42,571
-
-
-
-
-
42,571
-
13,117
Total cash funds
Capital Account
Income Account
~~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 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
~~===>~~
Details Fund to which
asset belongs
Cost (optional)		 Current value
(optional)
B3 Investment assets Endowment
-
1,004,209
-
-
-
-
-
-
-
-
Investment Portfolio
~~=—====~~
Details Fund to which
asset belongs
Cost (optional)		 Current value
(optional)
B4 Assets retained for the
charity’s own use		 ~~= ~~ -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
~~===~~
Fund to which
Amount due		 When due
Details liability relates
(optional)		 (optional)
B5 Liabilities -
-
-
-
~~===~~
Signed by one or two trustees on
behalf of all the trustees		 Signature Print Name Date of
approval
Christopher Thurlow on behalf of
Ludlow Trust Company (Southampton) 27 March 2026
Limited(Trustee)
CCXX R2 accounts (SS) 2 26/03/2026

Signed by one or two trustees on behalf of all the trustees

CCXX R2 accounts (SS)

26/03/2026

Independent Examiner's Report to the Trustees of The Margaret Gladys Grimes Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 23 October 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.

James O’Rourke FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

29 March 2026 Date