## **John Bristow and Thomas Mason Trust** Registered Charity No. 1075971 School Cottage, built by John Bristow, Rector 1615-1637, now known as Bristow’s Cottage ## **Annual Report** 1 October 2024 – 30 September 2025 ## www.jbtmt.org.uk facebook.com/jbtmt @JBTMTCharlwood **JOHN BRISTOW AND THOMAS MASON TRUST** |**Registered Charity No**|1075971| |---|---| |**Registered Address**|Beech Hay| ||Ifield Road| ||Charlwood| ||Surrey RH6 0DR| |**Trust Secretary**|Mrs Sam Songhurst| ||Beech Hay| ||Ifield Road| ||Charlwood| ||Surrey RH6 0DR| |**Bankers**|Barclays Bank plc| |**Investment Advisers**|Cazenove Capital Management Limited| ||1 London Wall Place| ||London Wall, Barbican| ||London, EC2Y 5AU| |**Solicitors**|Irwin Mitchell LLP| ||Belmont House, Station Way| ||Crawley| ||West Sussex, RH10 1JA| |**Auditors**|Kreston Reeves Audit LLP| ||Springfield House| ||Springfield Road| ||Horsham| ||West Sussex, RH12 2RG| |**How to contact the Trust**|E-mail: trust-secretary@jbtmt.org.uk| ||Phone: 01293 862734| ||Internet: www.jbtmt.org.uk/contact-us| ||Twitter: @JBTMTCharlwood| ||Facebook: facebook.com/jbtmt| |**Trustees**|| |Mrs Alison Martin|Agreed prospective retirement as Chair on 23 January 2025 and| ||retired as Chair and Trustee with effect from 4 March 2025.| |Rev. Sue Lepp|Ex-officio Trustee.| |Mrs Lizzy Daly|Appointed Chair-elect with effect from 23 January 2025, Office| ||expires 14 May 2028.| |Mr Bjorn Harris|Office expires 26 April 2027.| |Mr Matthew Hill|Office expires 21 March 2027.| |Mr Nick Howarth|Re-appointed 20 May 2025, Office expires 19 May 2029.| |Mr Richard Parker|Office expires 19 May 2028.| |Mr Chris Peters|Re-appointed 27 January 2026, Office expires 26 January 2030.| |Mrs Dawn Traynor|Office expires 14 September 2026.| John Bristow and Thomas Mason Trust Annual Report 2025 ## **Table of Contents** Chair’s Report for the Period Ended 30 September 2025 ............... 2 List of Grants for the Period to 30 September 2025 ..................... 6 The Trust Scheme ............................................................. 8 Statement of Trustees’ Responsibilities ................................... 9 Independent Auditor’s Report .............................................. 10 Statement of Financial Activities .......................................... 15 Balance Sheet ................................................................. 16 Notes to the Accounts ....................................................... 17 Endowment Fund ............................................................. 22 Statement of Policies ........................................................ 23 The History of the John Bristow and Thomas Mason Trust ............. 25 The Area of Benefit .......................................................... 27 1 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Chair’s Report for the Period Ended 30 September 2025** It is both a privilege and an honour to be writing my first Chair’s Report for the John Bristow and Thomas Mason Trust (JB&TMT), a charity that plays an important, though often unseen, role within our local Area of Benefit. I am only in my first year of the role and recognise that I still have much to learn. The JB&TMT supports the people of Charlwood, Hookwood and other pockets of the Area of Benefit through grants for education, recreation, welfare and support for other local charities. Despite the number of years the charity has been in existence, many residents are still unaware of the breadth of support available, making raising the Trust’s profile an ongoing challenge. Alongside this is the challenge of encouraging people to reach out when they need support. We know that asking for help can be difficult, and that embarrassment or concern about perceptions can act as barriers. It is important to reiterate that the Trust exists precisely to support people at such times, and that seeking help should never be a source of shame. Much of this work falls under what we refer to as Object 2, which requires the highest levels of discretion and confidentiality. Requests for assistance are handled separately from main trustee meetings, with anonymity preserved and involvement limited to the smallest possible number of people. This ensures that support is provided with dignity, sensitivity and respect. I would like to thank my fellow trustees for their commitment, compassion and professionalism, and for the care with which they approach sensitive decisions. In particular, Bjorn and Chris have devoted a significant amount of time this year to strengthening governance and formalising the Trust’s processes. This has included running a competitive tender process for legal advisers, ensuring appropriate professional support while maintaining value for money and protecting the long-term interests of the Trust. Looking ahead, our focus will remain on increasing awareness of the Trust, strengthening relationships with local organisations, and ensuring that support continues to be delivered quietly, respectfully and without judgement. We have a special local community, and we hope the JB&TMT reflects the very best of its spirit. I am proud to serve as Chair and to support the vital work the Trust undertakes on behalf of the Area of Benefit. ## **Economics and Investments** Finances remain strong and this positions the Trust well to deal with future grant activity. Investment markets remained volatile but consistent performance in the second half of the year saw the diversified investment portfolio finish with a valuation up just over £180,000 for the year, underpinning the endowment funds of the Trust. 2 John Bristow and Thomas Mason Trust Annual Report 2025 Steady rental income again supplemented core investment income and this gives comfort that the Trust has the resources to continue to support its Objects over the longer term. Our investment portfolio is managed by Cazenove and they continue to deploy a balanced but defensive investment strategy in maintaining a well-diversified investment mix in the light of prevailing market volatility; this tactic supports the long-term focus of our investment policy. Where possible, the Trust makes grant payments by direct bank transfer rather than by cheque. This allows funds to be paid quickly and securely into recipients’ accounts, including those who prefer to withdraw funds directly from their bank. ## **People** The Trust is currently seeking to appoint a new trustee who lives within Charlwood or Hookwood. We are keen to attract someone who can bring skills, knowledge or experience not currently represented on the board. A diverse mix of skills enables more work to be carried out in-house, reducing reliance on external agencies and supporting effective decision-making. Having a broad range of perspectives is particularly important when considering grant applications, which are often complex and emotive. Drawing on different experiences allows the Trustees to balance the Trust’s objectives with public expectations and to reach decisions that are fair, objective and well-judged. ## **Grants** During the year, the Trust awarded a total of 44 grants. Of those, seventeen grants supported young people attending sixth form college and/or university or other further education opportunities, reflecting the Trust’s continued commitment to education. Support was also provided across six areas at Charlwood Village Primary School. At a time of increasing financial pressure on schools, this funding has helped to maintain a positive and enriching educational environment. In addition, 18 general grants were awarded to support the wider community and a range of local organisations, including the clog dancing team, the Friday Group, Charlwood Football Club, the Charlwood Society, the Village Hall and the historic church. The Trust was pleased to support Brendon Sewill in the publication of his book _Freemen Forever_ , helping to preserve Charlwood’s history. Funding was also provided for Venture Week, enabling local children to enjoy a week of shared activities and experiences. We have been particularly encouraged by the circular nature of some grant-giving, with proceeds from supported events reinvested into village assets such as the ongoing maintenance of the Village Hall. All grants awarded are listed on page 6. Our Objects (reasons for our being a charity) are discussed on the following page and formally set out on page 8. 3 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Objects of the Trust and Public Benefit Reporting** All grant applications are assessed against the Trust’s charitable objects, with careful consideration given where alignment is less straightforward. Trustees have continued to give due regard to Charity Commission guidance on public benefit, including _Public Benefit: Running a Charity (PB2)_ . The Trust’s objects are set out in full on page 8. As a registered charity, the Trust prepares annual accounts to meet regulatory requirements and to provide transparency. These accounts explain the Trust’s activities, decisions and outcomes, with grant recipients named where appropriate, except where anonymity is required. During the year, 44 grant applications were supported. Two were awarded under Object 2 and are not discussed further. Twenty-four grants related to education, with a further 18 awarded under the Trust’s other charitable objectives, reflecting a busy and productive year. ## **Bristow’s Cottage** Bristow’s Cottage remains a significant historical and financial asset of the Trust, established in the early 17th century by John Bristow, Rector of Charlwood, as a schoolhouse for local children. Income generated from the property continues to support the Trust’s educational objects. All income from Bristow’s Cottage during the year has been applied to educational grants. Where income cannot be immediately used, funds are invested prudently to preserve their value for future educational support. As a listed historic building, the property requires ongoing maintenance. The Trustees are grateful to Richard Parker for overseeing a rolling programme of works and for liaising with the local authority on complex issues, including subsidence caused by historic oak trees. His efforts are vital in safeguarding this important asset for future generations. 4 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Publicity** As a Trust we continue to look to gently raise our profile and increase local awareness of the objectives of the Trust and the ways we can offer support within the Area of Benefit. We continue to look to update and improve our website but are also trying to ensure that our FB page has regular posts for dates of meetings and so on; this is to help those wishing to apply for grants to get them in within the deadlines for our cut-off points. Lizzy Daly Chair Date: 15[th] May 2026 5 John Bristow and Thomas Mason Trust Annual Report 2025 ## **List of Grants for the Period to 30 September 2025** |Grants approved during the period may be analysed as follows:|£| |---|---| |**Education Grants**|| |Personal Education Grants (seventeen grants)|61,648| |Charlwood Village Primary School (use of Providence Chapel)|1,250| |Charlwood Village Primary School (Chromebooks)|3,823| |Charlwood Village Primary School (National Sports Week)|1,800| |Charlwood Village Primary School (Science project)|325| |Charlwood Village Primary School (Victorian trip)|450| |Charlwood Village Primary School PTA (swimming coach travel 2024 & 2025)|6,250| |**Assistance Grants**|| |Personal1(two Object Two grants)|6,762| |**General Grants**|| |St Catherine’s Hospice (two grants)|54,440| |Charlwood Football Club (2024 and 2025)|6,400| |Charlwood Village Hall (guttering and fascia boards)|5,598| |Charlwood Fun Day|2,000| |St Nicholas Church (mowing)|3,700| |St Nicholas Church (banners)|500| |Charlwood Society|520| |Charlwood Appalachian Clog Dance Team|1,500| |Charlwood at Christmas (Xmas 2024 and 2025)|860| |The Friday Group (2024 and 2025)|1,000| |Charlwood Tea & Chat|1,090| |Brendon Sewill (“Freemen Forever”)|2,000| |Parish Venture Week|5,500| |Village transport initiative|5,200| |**Total Grants for the period**
|**172,616**| > 1 We do not usually give names of individuals and never do so for Assistance Grants. 6 John Bristow and Thomas Mason Trust Annual Report 2025 The Trust has supported St Catherine’s Hospice for several years, recognising the care offered to many residents from the Area of Benefit over time. The Trust has been a long-standing supporter of St Nicholas Church. The Trust previously supported the launch of the new Parish Magazine and this is now established as a regular local source of “news, views and more” for, and from, the community. The Trust has a primary Object to promote education in the Area of Benefit and is delighted to have further increased the incidence of individual educational grants in recent years. The Trust remains a longterm supporter of Charlwood Village FC with key membership drawn from the local community. 7 John Bristow and Thomas Mason Trust Annual Report 2025 ## **The Trust Scheme** The Trust Scheme was set up by order of the Charity Commissioners for England and Wales effective 1 March 1999, and amended by resolutions passed at special meetings of the Trustees on 23 June 2006 and 13 December 2015. ## **Charity N[o] :** 1075971 ## **Objects** The objects of the Trust as laid down by the Charity Commission are:- 1. The promotion of education in the Area of Benefit* through the provision and support of such facilities and services as the Trustees think fit. 2. The relief of inhabitants** who are - a) in need, hardship or distress; or - b) sick, convalescent, disabled, handicapped or infirm. 3. The provision and support, with the object of improving the conditions of life of the inhabitants in the interests of social welfare, of facilities for recreation and other leisure-time occupation of the inhabitants or any sufficient section of them; 4. The provision and support of such other charitable purposes for the benefit of the inhabitants or any sufficient section of them as the Trustees think fit. ## **Trustees** The Scheme for the John Bristow and Thomas Mason Trust, as amended by a resolution passed at a special meeting of the Trustees, states that there should be: one ex officio trustee the rector for the time being of the ecclesiastical parish of St. Nicholas, Charlwood - four nominated trustees: three appointed by Charlwood Parish Council and one appointed by the Governing Body of Charlwood Village School four co-opted trustees: who, as far as possible, are persons who through residence, occupation, employment or otherwise have special knowledge of the Area of Benefit > * the Area of Benefit is shown on the map on page 27 and is the 1926 boundary of the Parish of Charlwood > ** “the inhabitants” means the inhabitants of the Area of Benefit 8 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Statement of Trustees’ Responsibilities** The Charity's Trustees are responsible for preparing the Annual Report and Financial Statements for the year ended 30 September 2025 in accordance with applicable law and United Kingdom Accounting Standards and Generally Accepted Accounting Practice. The Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial period, which give a true and fair view of the state of affairs of the Charity and its financial activities for that period. In preparing those financial statements, the Trustees are required to: - a) select suitable accounting policies and apply them consistently; - b) observe the methods and principles in the Charities SORP (FRS 102); - c) make judgements and estimates that are reasonable and prudent; - d) state whether applicable UK Accounting Standards and Statements of Recommended Practice have been followed; - e) 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 proper accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ascertain the financial position of the Charity, comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the 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 confirm that so far as they are aware, there is no relevant audit information of which the Charity’s Auditors are unaware. They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charity’s Auditors are aware of that information. The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the Charity on 6 October 2025. By order of the Trustees Lizzy Daly Chair Date: 15[th] May 2026 9 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Independent Auditor’s Report** ## **to the Trustees of the John Bristow and Thomas Mason Trust** ## **Opinion** We have audited the financial statements of The John Bristow and Thomas Mason Trust (the 'Trust') for the year ended 30 September 2025 set out on pages 15 to 21. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: - give a true and fair view of the state of the charitable Trust's affairs as at 30 September 2025 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 10 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Independent Auditor’s Report (continued)** ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report on by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the Trustees’ report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. 11 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Independent Auditor’s Report (continued)** ## **Responsibilities of Trustees** As explained more fully in the Trustees’ Responsibilities Statement, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable Trust's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable Trust or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ## **Capability of the audit in detecting irregularities, including fraud** Based on our understanding of the charity and the sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risk of non-compliance with laws and regulations related to anti-bribery. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements such as the valuation of investment properties. 12 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Independent Auditor’s Report (continued)** Audit procedures performed by the engagement team included: - Discussions with management and assessment of known or suspected instances of noncompliance with laws and regulations and fraud, and review of the reports made by management; - Assessment of identified fraud risk factors; - Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; - Conducting interviews with appropriate personnel to gain further insight into the control systems implemented, and the risk of irregularity; - Challenging assumptions and judgements made by management in its significant accounting estimates; - Checking and reperforming the reconciliation of key control accounts; - Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; - Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; - Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant regulatory authorities; - Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and - Identifying and testing journal entries, in particular any manual entries made at the year-end for financial statement preparation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable Trust's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. 13 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Independent Auditor’s Report (continued)** - Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable Trust's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in my Auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's report. However, future events or conditions may cause the charitable Trust to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Use of our report** This report is made solely to the charitable Trust's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable Trust's Trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable Trust and its Trustees, as a body, for our audit work, for this report, or for the opinions we have formed. Kreston Reeves Audit LLP Chartered Accountants Statutory Auditor Springfield House Springfield Road Horsham West Sussex RH12 2RG Date: 15[th] May 2026 Kreston Reeves Audit LLP is eligible for appointment as auditor in terms of section 1212 of the Companies Act 2006. 14 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Statement of Financial Activities** ## **For the year ended 30 September 2025** **----- Start of picture text -----**
Funds Total
Statement of Financial Activities Notes Unrestricted Endowment 2025 2024
£ £ £ £
Income and Endowments
Investment Income 3 107,361 — 107,361 117,355
Expenditure
Investment Management Costs — 15,684 15,684 14,890
Charitable Activities
-On Properties 4 5,227 — 5,227 2,688
-Grants and Donations Payable 5 172,616 — 172,616 88,268
-Governance and Support Costs 7 12,441 — 12,441 11,275
Total Charitable Expenses 190,284 — 190,284 102,231
Total Expenditure 190,284 15,684 205,968 117,121
Gain on Investment Property revaluation 8 — — — —
Net gains on Listed Investments 9 — 181,523 181,523 199,175
Net (Outflow)/Income (82,923) 165,839 82,916 199,409
Transfers between Funds — — — —
Net Movement in Funds (82,923) 165,839 82,916 199,409
Reconciliation of Funds
Total Funds brought forward 171,747 3,184,131 3,355,878 3,156,469
Total Funds carried forward 88,824 3,349,970 3,438,794 3,355,878
**----- End of picture text -----**
15 John Bristow and Thomas Mason Trust Annual Report 2025 ## Charity N[o ] 1075971 ## **Balance Sheet** ## **At 30 September 2025** **----- Start of picture text -----**
Funds Total
Balance Sheet Notes Unrestricted Endowment 2025 2024
£ £ £ £
Fixed Assets
Investment Properties 8 — 600,002 600,002 600,002
Listed Investments 9 — 2,753,868 2,753,868 2,587,929
Total Investments — 3,353,870 3,353,870 3,187,931
Debtors 10 6,186 — 6,186 5,100
—
Cash at bank and in hand 91,138 91,138 174,913
—
Total Current Assets 97,324 97,324 180,013
Creditors: amounts falling due within 1 year 11 (8,500) (3,900) (12,400) (12,066)
Net Current Assets/(Liabilities) 88,824 (3,900) 84,924 167,947
Total Assets less Current Liabilities 88,824 3,349,970 3,438,794 3,355,878
Permanent Endowment Funds — 3,349,970 3,349,970 3,184,131
Total Capital Funds — 3,349,970 3,349,970 3,184,131
Unrestricted Funds 88,824 — 88,824 171,747
Total Charity Funds 88,824 3,349,970 3,438,794 3,355,878
**----- End of picture text -----**
The financial statements were approved by the Trustees and signed on their behalf by: Lizzy Daly Chair Date: 15[th] May 2026 16 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## **Notes to the Accounts** ## For the Period Ended 30 September 2025 ## 1. **Accounting Policies** Basis of Preparation – The financial statements have been prepared under the historical cost convention, unless otherwise stated in these notes. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Trust has not presented a Statement of Cash Flows, taking advantage of the exemptions available to a small entity under the Charities SORP (FRS 102) and FRS 102. The Trust constitutes a public benefit entity as defined by FRS 102. Income - Income is recognised when the Trust has entitlement to the income and includes dividends, interest receivable and rent receivable for the year. Expenditure - All grants and expenditure are accounted for when they become payable, or when there is a constructive obligation, including grants and loans which have been formally approved by the Trustees, but not yet paid. All expenditure is accounted for on an accruals basis and grants payable represent payments made, or to be made, to third parties in furtherance of the charitable objects of the Trust. Charitable activities – The costs of charitable activities include grants made, investment property related costs and governance and support costs. Listed Investments - Investments are valued at the middle market price as disclosed on the London Stock Exchange at the year end. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year; investments all relate to the Endowment Funds of the Trust. The principal investment portfolio is managed on a discretionary basis by the Trust’s investment advisers, investment management costs are charged against the Endowment Funds. Funds - The Unrestricted Funds represent monies which are available for future grants, the primary source of receipt is from the investment income generated by the Endowment Fund. The Endowment Fund is not available for distribution without the specific authority of the Charity Commissioners. It represents the endowment capital received by the charity adjusted for gains and losses on investments. Investment Properties -The recreation land at The Withey and the Millennium Field are carried at £1 each because these are non-income producing assets. Bristow’s Cottage and Charity Field are shown at the market values as at the date of the last valuation. ## 2. **Taxation** As a registered charity, the Trust is not subject to United Kingdom corporation tax or income tax. Any tax deducted from interest is recoverable. The Trust is not registered for Value Added Tax, with the result that VAT suffered on expenditure is irrecoverable. 17 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## 3. **Investment Income** |||||| |---|---|---|---|---| |||||| ||**Unrestricted**|||| |**Income**||**Endowment**||| |||||| ||**£**||**£**
**£**|| |||**£**||| |||||| |||||| |||||| |Listed Investment Income|85,262|—|85,262
94,772|| |||||| |||||| |Bank Interest receivable|2,837|—|2,837
3,745|| |||||| |||||| |Rental Income|19,262|—|19,262
18,838|| |||||| |||||| |Total Income|**107,361**|—|**107,361**
**117,355**|| |||||| The 2024 figures all relate to Unrestricted Funds. ## 4. **Expenditure on Property** The following expenditure was incurred on Bristow’s Cottage and other properties during 2024/25: ||||| |---|---|---|---| |||**2025**|**2024**| |||**Unrestricted**
**Funds**
**£**|**Unrestricted**
**Funds**
**£**| ||General maintenance & renewals|3,363|1,042| ||Rental management fees|—|—| ||Insurance on all Properties|1,864|1,646| ||Professional fees|**—**|**—**| ||Total spent on Properties|
**5,227**|**2,688**| ## 5. **Grants and Donations Payable** |**2025**
**2024**
**Unrestricted**
**Funds**
**£**
**Unrestricted**
**Funds**
**£**|**2025**
**2024**| |---|---| ||**Unrestricted**
**Funds**
**£**
**Unrestricted**
**Funds**
**£**| |Grants to third parties – individuals (see page 6 for full list)|70,410
47,248| |Grants to third parties – groups (see page 6 for full list)|102,206
41,020| |Total|**172,616**
**88,268**| 18 John Bristow and Thomas Mason Trust Annual Report 2025 ## 6. **Related Party Transactions** One educational grant of £4,500 was paid in the year to a dependant of a Trustee, Mr C Peters. The grant was determined in the normal course of the Trust’s business and agreed by reference to the standing objects of the Trust; the Trustee declared an interest in the application and took no active part in the consideration and approval of the grant concerned. There was one similar related party transaction in the prior year, also for £4,500. ## 7. **Governance and Support Costs** |**2025**
**2024**
**Unrestricted**
**Funds**
**£**
**Unrestricted**
**Funds**
**£**|**2025**
**2024**| |---|---| |Trust Secretarial Services Costs|2,470
2,460| |Other office costs|1,871
1,315| |Total Support Costs|**4,341**
**3,775**| |Auditor’s remuneration - Governance Costs|8,100
7,500| |Total spent on Governance and Support Costs|**12,441**
**11,275**| The Trust has no direct employees and no employee costs were incurred in the year. No remuneration was paid to Trustees in the period (2024: £Nil) and no expenses were claimed by the Trustees in the period (2024: £Nil). ## 8. **Investment Properties** White & Sons, Estate Agents and Surveyors, carried out formal property valuations for Bristow’s Cottage and for Charity Field as at 30 September 2013, and provide valuation advice on a caseby-case occasional basis. The basis of the valuations at 30 September 2013 was the market value for owner occupation as defined in the R.I.C.S. Appraisal and Valuation Standards (The Red Book). White & Sons are not an Independent Valuer strictly as defined in the Appraisal and Valuation Standards, as at the time valuation information was provided they were receiving remuneration in respect of the management of both of the above properties, but the Trustees accepted their valuation advice as an Independent Valuer. The fair value of the investment properties held by the Charity is subject to a significant element of uncertainty due to the lack of observable and comparable market prices of the assets held. Given the passage of time since the 2013 valuation, and movements in the prevailing property market, in 2022 the Trustees asked White & Sons to provide a contemporary valuation of Bristow’s Cottage. White & Sons subsequently provided an indicative valuation of £550,000 for Bristow’s Cottage as at 18 July 2022 and the Trustees agreed to reflect this valuation in the 2022 accounts and this valuation is retained as at 30 September 2025; Charity Field remains at a carrying value of £50,000. The recreation land at The Withey and the Millennium Field are carried at £1 each because these are non-income producing assets. 19 John Bristow and Thomas Mason Trust Annual Report 2025 ## 8. **Investment Properties** (continued) |**2025**
**2024**
**Endowment**
**Funds**
**£**
**Endowment**
**Funds**
**£**|**2025**
**2024**| |---|---| |Bristow’s Cottage, Rectory Lane, Charlwood|550,000
550,000| |Charity Field, Beggarshouse Lane, Charlwood|50,000
50,000| |Total|**600,000**
**600,000**| |The Withey, Hookwood, and the Millennium Field, Charlwood|2
2| |Total Valuation|**600,002**
**600,002**| ## 9. **Listed Investments** Investments are principally in UK listed investment funds for equities, bonds and alternatives and are stated at middle market prices totalling £2,753,868 with an original cost of £2,096,584. More detail is shown in note 13. |**2025**
**2024**
**Endowment**
**Funds**
**£**
**Endowment**
**Funds**
**£**|**2025**
**2024**| |---|---| |Investments at valuation brought forward|2,587,929
2,403,544| |Net gains on investment|181,523
199,175| |Investment management costs|(15,584)
(14,790)| |**Investments at valuation carried forward**|**2,753,868**
**2,587,929**| ## 10. **Debtors** Debtors are made up as follows: ||||| |---|---|---|---| ||||| ||**Unrestricted**||| |||**Endowment**|| ||||| ||**£**|**£**|**£**
**£**| ||||| ||||| |Other debtors|||| ||1,287
—||| ||||| |Prepayments & accrued income|||4,899
3,450| ||4,899
—||| ||||| |Totals|||**6,186**
**5,100**| ||**6,186**
**—**||| ||||| The 2024 figures all relate to Unrestricted Funds. 20 ## John Bristow and Thomas Mason Trust Annual Report 2025 ## 11. **Creditors: amounts falling due within 1 year** Creditors are made up as follows: ||**Unrestricted**||**2025**
**2024**|**2025**
**2024**| |---|---|---|---|---| |||**Endowment**||| ||**Funds**|**Funds**||| |||||| ||**£**|**£**|**£**
**£**|| |||||| |||||| |Grants payable||||| ||400
—||400
400|| |||||| |Accruals||||| ||8,100
3,900||12,000
11,666|| |||||| |Totals||||| ||**8,500**
**3,900**||**12,400**
**12,066**|| |||||| The 2024 figures include accruals of £3,800 relating to Endowment Funds. ## 12. **Fund movements - comparatives** **----- Start of picture text -----**
Unrestricted Endowment
Total
Funds Funds
£ £ £
**----- End of picture text -----**
|**Unrestricted**
**Funds**
**£**|**Unrestricted**
**Funds**
**£**|**Endowment**
**Funds**
**Total**
**£**
**£**| |---|---|---| |1 October 2023|156,623|2,999,846
3,156,469| |||| |Income||| ||117,355|—
117,355| |||| |Expenditure||| ||(102,231)|(14,890)
(117,121)| |||| |Gains on investments||| ||—|199,175
199,175| |||| |Transfers between funds||| ||—|**—**
**—**| |||| |30 September 2024||| ||**171,747**|**3,184,131**
**3,355,878**| |||| The Endowment Funds represent capital available for long-term investment to provide capital growth and generate investment income. Investment income is then available for application under the provisions relevant to Unrestricted Funds but the Endowment Fund itself is not available for distribution without the specific authority of the Charity Commissioners. 21 John Bristow and Thomas Mason Trust Annual Report 2025 ## 13. **Supplementary information: Endowment Fund Values** ## **Investments at 30 September 2025** |**30 September 2025**|**30 September 2025**|**30 September 2025**||**30 September 2024**|**30 September 2024**|**30 September 2024**| |---|---|---|---|---|---|---| |||||||| |**Units**|**Cost (£)**|**Market Value**
**(£)**||**Units**|**Cost (£)**|**Market Value**
**(£)**| |||||||| |**_Equity Investment Funds_**||||||| |||||||| |770,000
258,649||467,929
Charity Equity Income Fund||770,000
258,649||425,579| |||||||| |-
-||-
M & G Charifund Investment Fund||13,000
151,644||197,436| |||||||| |250
111,304||123,356
SPDR S&P 500 UCITS ETF||100
39,959||42,752| |||||||| |120,000
28,368||100,836
Charity Equity Value Fund||120,000
28,368||89,052| |||||||| |2,200
108,215||206,201
Vanguard S&P 5000 UCITS ETF||2,200
108,161||178,360| |||||||| |100,000
90,934||159,680
M&G Global Dividend Fund||100,000
90,934||145,330| |||||||| |164,000
138,400||210,412
Fidelity Global Dividend Fund||164,000
138,400||194,688| |||||||| |453,027||520,085
Other Equity Funds||326,262||368,572| |||||||| |**_Bonds_**||||||| |||||||| |241,540||257,620
UK Bonds||250,789||266,438| |||||||| |126,312||125,750
Non-UK Bonds||150,990||151,641| |||||||| |**_Other Funds_**||||||| |||||||| |36,394||52,227
Multi-Asset Funds||36,394||49,319| |||||||| |452,549||478,880
Alternatives||438,716||425,855| |||||||| |50,892||50,892
Cash||52,897||52,897| |||||||| |**2,096,584**||**2,753,868**||**2,072,163**||**2,587,929**| |||||||| 22 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Statement of Policies** ## **Reserves Policy** In line with the guidance issued by the Charity Commission, the Trustees seek to apply all income on charitable purposes as soon as is reasonably prudent, however they have concluded: 1. that it is right to keep about £20,000 to £30,000 in reserve as this approximates to four months outgoings and this is the amount required to ensure that the Trust can be run efficiently and to meet grant applications without delay. 2. that it is right to keep additional reserves when it is anticipated that there is a real prospect that the Trustees will, within the following two years or thereabouts, make a grant which is greater than 20% of the budgeted annual income. The amount of this reserve will depend on the size of the anticipated grant or the accumulated total if there is more than one. The Trustees monitor the level of reserves regularly. ## **Risk Management and Control Policy** The Trustees have identified the major risks to which the Trust is exposed and have established systems and procedures to mitigate those risks. The Trustees monitor their Risk Register at least once a year. ## **Investment Policy** It is the Trustees’ policy to invest in equities, fixed interest instruments, commercial property and alternative assets (including hedge assets) and to place money with deposit takers. The objective is to achieve growth, both in capital and income, but in particular to preserve the capital for future generations. Within that broad objective the aim is to obtain income in the range of £75,000 to £80,000 per annum (at the time of writing) from the Trust’s investments. This will be reviewed at least annually. The Trustees have appointed Cazenove Capital as investment advisers. With effect from 1 January 2017, they have had discretion to invest, within defined parameters, on behalf of the Charity. They seek a well-diversified portfolio of investments, with a medium to high attitude to risk and there are no restrictions in place. Some funds are placed on deposit with Schroders, otherwise investments are mainly in pooled funds to ensure a good level of diversification and efficiency. The performance is benchmarked against relevant asset class indices and inflation. The ratio between asset classes will vary, but in general 45% to 75% will be in equities, 5% to 25% in fixed interest _**,**_ 5% to 15% in commercial property funds and 0% to 20% in alternatives (including hedge assets). A small proportion may be with a deposit taker or in a current bank account. Cazenove Capital report four times a year on the investment performance and the investment policy is reviewed at least once a year. The Trust also owns real property and there are historical reasons for each holding. The Trustees do not invest in real property for purely investment purposes. 23 John Bristow and Thomas Mason Trust Annual Report 2025 ## **Policy on selection of individuals and institutions who are to receive grants** i) the Area of Benefit will be taken as a whole and applications from any part of the Area of Benefit or communities within it will be considered on merit; ii) steps will be taken to achieve growth both in capital and in income but in particular to preserve Bristow’s Cottage and other capital of the Trust for future generations; iii) in supporting projects and societies, the Trustees are determined that voluntary fund-raising efforts must not be impaired and it wishes community involvement to remain as strong as it has been in past years; iv) the Trustees are willing to work in co-operation with other charities within the Area of Benefit such as Smiths and Earles. ## **Recruitment of Trustees** Co-opted Trustees are appointed following local recommendation from organisations and the community. On appointment, a new Trustee is sent an induction pack comprising: - Copy of the Trust Scheme dated 1 March 1999 - Copy of the Minutes of any subsequent special meeting of the Trustees held relevant to any resolution to amend any clause of the Trust Scheme - Copy of the most recent audited Trust Annual Report and Accounts - Copy of the Charity Commission publication CC3 The Essential Trustee: What you need to know - Details of the current Trustees including contact details - Copy of the Minutes of the last Trustees’ meeting - Copy of the Charity Commission publication CC10 The Hallmark of an Effective Charity The Chair then has a meeting with the new Trustee to give further information and details on the Trust and to answer any questions. ## **Policy of Conflict of Interest** Trustees must always be alert to the possibility of a conflict of interest. In particular they must make known, just as soon as is feasible, any interest in a matter scheduled for or under discussion which may, in the opinion of others, give rise to even a remote possibility of bias. If the interest affects the Trustee personally or affects a member of his or her family, the best course will be for the Trustee to take no part in the discussion and to leave the room. If the interest affects an organisation of which the Trustee is a member a more complicated situation arises. The interest must be made known as soon as possible and it is then for the Trustee, for the Chair of the meeting and for other Trustees present to exercise their judgement as to what part if any the Trustee should play in discussing the matter: it will be inappropriate for the Trustee to cast a vote. 24 John Bristow and Thomas Mason Trust Annual Report 2025 ## **The History of the John Bristow and Thomas Mason Trust** The John Bristow and Thomas Mason Trust formally came into existence on 1 March 1999 when the two Charlwood Charities of the John Bristow Charity and the Thomas Alexander Mason Trust combined to form a single new charity to carry on the work of both the charities. ## **History of John Bristow’s Charity** John Bristow was rector of Charlwood from 1615 until his death in 1637. He was a local Charlwood man whose family had lived here for at least two centuries. He was comparatively well off, owning properties in Horley and Charlwood. During his lifetime John Bristow built a cottage now known as Bristow’s cottage and gave it, and the half acre adjoining, under the care of six trustees, to be “a Schoolhouse, and for the teaching of two poor children therein gratis”. In his will he added a field of seven acres, now called Charity Field, beside Beggarshouse Lane and increased to three the number of children to receive free education. The cottage remained as the village school for over 200 years, until a new and larger boys’ school was built in 1840 and a new girls’ school (now the Parish Hall) in 1852. In 1863 it was recorded that the aged schoolmaster, John Mann, was still teaching without charge, four poor children to read, write and cast accounts. Subsequently the cottage was let, with the rental income being used to support education. For many years the cottage was occupied by a well known Charlwood character, Eric Wickens, and his family. When he died in 1995 the Trustees decided that the cottage needed extensive restoration, to preserve it, and to bring the bathroom and kitchen up to date. The charity did not, however, have sufficient funds to finance this expenditure, and therefore suggested an amalgamation with the Thomas Alexander Mason Trust. The Charity Commission decided that the merger made sense since the Bristow’s Charity and the Thomas Alexander Mason Trust both covered the same Area of Benefit, both covered education, both had the Rector of Charlwood as an ex officio Trustee, and it allowed the new charity to spend some of its capital on the restoration. The merger also allowed the cottage to be retained in community ownership at the time, thus preserving a unique part of the heritage of the village. 25 John Bristow and Thomas Mason Trust Annual Report 2025 ## **History of the Thomas Alexander Mason Trust** Thomas Alexander Mason was born in Southwark in 1859. Actually he was born as Thomas Alexander Bear but changed his name to Mason by deed poll when he was 29. He inherited a successful family tobacco business which he sold to British American Tobacco at the end of the First World War. For many years he lived in Reigate, and died at the age of 90. He was a solitary man and a private benefactor, often buying plots of land and giving them to charities. In 1926 he bought an acre of land in the centre of the village of Lowfield Heath “for the purpose of a recreation ground and open space”. There is no record of why he made this gift. At that time Lowfield Heath was part of the Parish of Charlwood and the Charlwood Parish Council became the Trustee for the land. In the 1970s much of the village of Lowfield Heath was demolished due to the noise from Gatwick Airport, leaving just the church and the windmill. The 1973 boundary changes transferred Lowfield Heath to Crawley, but the Charity Commission ruled that the land should remain under the trusteeship of Charlwood Parish Council. During the following eight years the ground became disused and overgrown and eventually planning permission was obtained for development. In November 1981 the land was sold for £490,000. After guidance and direction from the Charity Commission as to who should have responsibility for safeguarding this large sum for the Parish, a new charitable trust was set up named after the original donor. The Trust, which came into existence in January 1983, was ‘for the benefit of the inhabitants of the Parish of Charlwood’, with the boundaries as they were in 1926 when Thomas Mason made his gift (as illustrated on the Area of Benefit map). 26 John Bristow and Thomas Mason Trust Annual Report 2025 The Area of Benefit 8oito S31fords Kwr Qrlvir 58 53 53 55 PL* rrn 72 9S Ick4*tvwrx Hookwuod C*rtUr S¢ hiF Puvey Ci rlwood tt•y prtQT PAI Ind PM u*J-Hill - j offl'} B.?."" -L6wfi•l pte Grec Ilvv The Arca of Beiicfit as oiitlllicd on the ii]ap aboi'e is the IQ)6 boiiiidar!" ot thc PAr￿h ot LILarI￿"O0d. 27