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← The Sants Charitable Trust

2025-04-05-accounts

Charity Registration No. 1078555

THE SANTS CHARITABLE TRUST

REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE SANTS CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees H W H Sants
C J Sants
J H Ovens
A Sants
E K R Sants
A F J Sants
Charity number 1078555
Principal address Cobstones
Turville
Henley on Thames
Oxfordshire
RG9 6QL
Independent examiner Kerry Gallagher FCA DChA
RSM UK Tax and Accounting Limited
Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU
Bankers Coutts & Co
440 Strand
London
WC2R 0QS
Investment advisors Cazenove Capital Management Limited
1 London Wall Place
London
EC2Y 5AU

THE SANTS CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the 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 (FRS 102) (effective 1 January 2019), the Charities Act 2011 and in accordance with the trust deed.

Objectives and activities

The objects, purpose and activities of the charity, as set out in the trust deed, are for such exclusive charitable purposes, in any part of the world, as the Trustees may determine. This includes the activity of supporting small charities helping children and young people in and around Oxfordshire and Buckinghamshire, especially those with a Christian foundation.

Public benefit

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.

Grant making policy

The Trustees decide on the grants to be made within the scope of the Trust's objectives and to further the charity's purpose for the public benefit.

Achievements and performance

17 grants totalling £71,550 were paid to institutions during the year (2024: 16 grants totalling £26,250), in all cases fulfilling the main objective of the charity.

Financial review

The results are set out in the Statement of Financial Activities on page 5. The Trust made grants of £71,550 (2024: £26,250) and received income of £45,168 (2024: £55,245). The reserves carried forward are £1,001,368 (2024: £1,098,645), which are considered to be satisfactory for future needs.

Reserves policy

The Trustees’ policy is to maintain the Endowment Fund so as to maximise income to pay donations and grants for charitable purposes. The Endowment Fund is to be maintained at £1,000,000. The Endowment Fund at the year end is £1,001,368 (2024: £1,098,645) which is an decrease (2024: increase) compared to last year, largely due to a net loss (2024: net gain) on investments in the year. The Trustees continue to monitor the level of reserves.

Risk management

The affairs of the Trust are on a small scale and are handled directly by the Trustees. The Trust’s quoted securities are managed by Cazenove Capital Management Limited which has been instructed to structure these for low risk. The Trustees monitor the performance of the investment managers but they do not consider that additional risk management procedures are necessary for a Trust of this size.

Plans for future periods

The aim of the Trustees for the next year is to continue making donations to various charities.

Structure, governance and management

The Sants Charitable Trust is constituted under a trust deed dated 21 July 1999, as amended by a deed of appointment and variation dated 11 November 1999, under which the founders of The Sants Charitable Trust appointed themselves as the original Trustees of the charity with the power to appoint new or additional Trustees to the charity as and when necessary.

THE SANTS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management (continued)

The Trustees who served during the year and to the date of this report were: H W H Sants

C J Sants

J H Ovens A Sants E K R Sants A F J Sants

The Trustees' Report was approved by the Board of Trustees.

..............................

H W H Sants

Trustee

22/10/25 Dated: .........................

THE SANTS CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2025

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with 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 law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 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 SANTS CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SANTS CHARITABLE TRUST

I report to the Trustees on my examination of the financial statements of The Sants Charitable Trust (‘the charity’) for the year ended 5 April 2025, which are set out on pages 5 to 13.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 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 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

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 reasonable 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 2011 Act; or 2. the financial statements do not accord with those records; or

  2. the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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 financial statements to be reached.

Kerry Gallagher

Kerry Gallagher FCA DChA Institute of Chartered Accountants in England and Wales On behalf of: RSM UK Tax and Accounting Limited Chartered Accountants Davidson House Forbury Square Reading Berkshire RG1 3EU

Dated: 23/10/25

THE SANTS CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Endowment
funds
fund
Notes
£
£
Income from:
Donations
3
-
-
Investments
4
45,168
-
Total income
45,168
-
Expenditure on:
Raising funds
5
-
3,296
Charitable activities
6
80,850
-
Total expenditure
80,850
3,296
Net (expenditure)/income before (losses)/gains on
investments
(35,682)
(3,296)
Net (losses)/gains on investments
9
-
(58,299)
Net (expenditure)/income before transfers
(35,682)
(61,595)
Gross transfers between funds
12
35,682
(35,682)
Net movement in funds
-
(97,277)
Total funds brought forward
-
1,098,645
Total funds carried forward
12
-
1,001,368		 Total
2025
£
-
45,168
45,168
3,296
80,850
84,146
(38,978)
(58,299)
(97,277)
-
(97,277)
1,098,645
1,001,368		 Total
2024
£
10,000
45,245
55,245
3,120
35,264
38,384
16,861
43,954
60,815
-
60,815
1,037,830
1,098,645

Charity Registration No. 1078555

THE SANTS CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Investments
9
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Total assets less current liabilities
Funds
Endowment fund
12		 2025
£
£
994,256
17,237
(10,125)
7,112
1,001,368
1,001,368
1,001,368		 2024
£
£
1,080,943
27,506
(9,804)
17,702
1,098,645
1,098,645
1,098,645		 2024
£
£
1,080,943
27,506
(9,804)
17,702
1,098,645
1,098,645
1,098,645
1,098,645
1,098,645
1,098,645

22/10/25 The financial statements from pages 5 to 13 were approved by the Trustees on .............................. and signed on their behalf by:

.............................. H W H Sants

Trustee

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

The Sants Charitable Trust is a charity registered in England and Wales by the Charity Commission (charity number 1078555). Details of the principal address are given on the legal and administrative information page of the financial statements. The charity’s operations and principal activities are described in the Trustees’ Report.

Accounting convention

The financial statements have been prepared in accordance with applicable accounting standards under the historical convention with assets and liabilities initially recognised at historical cost except for certain investments which are held at market valuation, as stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2019) and the Charities Act 2011.

The financial statements 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 Statement of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The Trustees are not aware of any material uncertainties related to events or conditions that may cast significant doubt about the ability of the charity to continue as a going concern and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. In the view of the Trustees, the charity has sufficient reserves to continue in operation for at least twelve months after the approval of the financial statements. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Charitable funds

The funds of the charity are segregated between the Unrestricted Accumulated Income Fund and the expendable Endowment Fund in the year the income/expenditure is received or spent. Donations, investment income, grants paid and support costs are allocated to the Unrestricted Accumulated Income Fund. At the end of each year, the net movement of the Unrestricted Accumulated Income Fund is transferred to/from the Endowment Fund and carried forward in the Endowment Fund reserves.

The Unrestricted Accumulated Income Fund is available for the Trustees to use in accordance with the charity’s objects and the Endowment Fund is used to support the Unrestricted Accumulated Income Fund.

Income

All income is recognised once the charity has entitlement to it, it is probable that it will be received and the amount receivable can be measured reliably.

Donations

Donations are accounted for on a receivable basis.

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies (Continued)

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure heading.

Grants payable are payments made to third parties in furtherance of the charitable objectives and are charged in the year when the offer is conveyed to the recipient.

Governance costs relate to the public accountability of the charity and regulatory compliance. Governance costs are apportioned to charitable activities.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation throughout the year.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The Trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

3 Donations

2025 2024
£ £
Donations received - 10,000

During the year, donations were £nil (2024: £10,000) of which £nil (2024: £10,000) related to unrestricted funds.

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

4 Investments

Interest income from listed investments
Dividend income from listed investments		 2025
£
2,300
42,868
45,168		 2024
£
2,609
42,636
45,245

During the year, income from investments was £45,168 (2024: £45,245) of which £45,168 (2024: £45,245) related to unrestricted funds.

5 Raising funds

2025 2024
£ £
Investment management costs 3,296 3,120

During the year, expenditure on raising funds was £3,296 (2024: £3,120) of which £3,296 (2024: £3,120) related to the endowment fund.

6 Charitable activities

Grants to institutions (note 7)
Support costs
Bank charges
Fees payable to independent examiner:
- for independent examination
- for accounts preparation		 2025
£
71,550
-
4,320
4,980
80,850		 2024
£
26,250
14
4,140
4,860
35,264

During the year, expenditure on charitable activities was £80,850 (2024: £35,264) of which £80,850 (2024: £35,264) related to unrestricted funds.

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

7 Grants to institutions
of
Arts and Creativity:
Garsington Opera
Royal Opera House Covent Garden
Foundation
Christian Activities:
Holy Trinity Church Brompton
Friends of Mucknell Abbey
Wycombe Deanery
The Lambeth Partnership
St Peter & Paul Worminghall
Buckinghamshire Historic Churches
Trust
All Saints Marlow
The Centre for Cultural Witness
Friends of Fawley Church
Ride and Stride
St Mary's Turville
St Michael's Barford St Michael
Community Development:
Buckinghamshire Foundation
Cornwall Community
The Amber Foundation
Growing Hope
Royal Trinity Hospice
Waderbridge Cricket Club
Cornwall Community Foundation
Educational Support:
Trinity College
The University of Oxford		 No.
Grants
grants
payable
of
2025
2025
£
1
6,000
1
6,000
2
12,000
-
-
2
1,050
2
10,500
-
-
1
1,200
-
-
-
-
1
6,000
-
-
1
300
1
25,200
1
3,000
9
47,250
1
100
-
-
-
-
1
5,400
1
1,000
1
5,000
1
500
4
12,000
1
300
-
-
1
300		 No.
Grants
grants
payable
2024
2024
£
-
-
-
-
-
-
1
5,500
1
50
1
1,000
1
2,500
1
1,200
1
600
1
2,500
1
2,500
1
5,000
-
-
-
-
-
-
9
20,850
1
100
1
500
1
500
-
-
-
-
-
-
-
-
3
1,100
1
300
1
3,000
2
3,300		 No.
Grants
grants
payable
2024
2024
£
-
-
-
-
-
-
1
5,500
1
50
1
1,000
1
2,500
1
1,200
1
600
1
2,500
1
2,500
1
5,000
-
-
-
-
-
-
9
20,850
1
100
1
500
1
500
-
-
-
-
-
-
-
-
3
1,100
1
300
1
3,000
2
3,300
-
5,500
50
1,000
2,500
1,200
600
2,500
2,500
5,000
-
-
-
20,850
100
500
500
-
-
-
-
1,100
300
3,000
3,300

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

7 Grants to institutions (Continued)

Other:

Counselling Pastoral Trust
Turmle Sdion Tms
Total grants payable		 -
-
-
16		 -
-
-
71,550		 1
1
2
16		 500
500
1,000
26,250

8 Trustees

The Trustees, who are considered to be the key management personnel, received no remuneration or expenses for their services (2024: £nil). There were no employees during the year or the prior year.

9 Fixed asset investments

Valuation of Multi-Asset Funds
At 6 April 2024
Gain on revaluation
At 5 April 2025
Investment account balances are split as follows:
Multi-Asset Funds
Cash
10
Creditors: amounts falling due within one year
Accruals
11
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss		 Listed
investments
2025
£
1,018,301
(58,299)
960,002
2025
2024
£
£
960,002
1,018,301
34,254
62,642
994,256
1,080,943
2025
2024
£
£
10,125
9,804
2025
2024
£
£
960,002
1,018,301		 Listed
investments
2025
£
1,018,301
(58,299)
960,002
2025
2024
£
£
960,002
1,018,301
34,254
62,642
994,256
1,080,943
2025
2024
£
£
10,125
9,804
2025
2024
£
£
960,002
1,018,301
960,002
2024
£
1,018,301
62,642
1,080,943
2024
£
9,804
2024
£
1,018,301

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

12 Movement in funds

Balance at
6 April 2024
£
Unrestricted funds
-
Endowment fund
1,098,645
1,098,645
Comparative movement in funds
Balance at
6 April 2023
£
Unrestricted funds
-
Endowment fund
1,037,830
1,037,830		 Balance at
6 April 2024
£
Unrestricted funds
-
Endowment fund
1,098,645
1,098,645
Comparative movement in funds
Balance at
6 April 2023
£
Unrestricted funds
-
Endowment fund
1,037,830
1,037,830
Income
Expenditure
Gains and
losses
£
£
£
45,168
(80,850)
-
-
(3,296)
(58,299)
45,168
(84,146)
(58,299)
Income
Expenditure
Gains and
losses
£
£
£
45,168
(80,850)
-
-
(3,296)
(58,299)
45,168
(84,146)
(58,299)
Income
Expenditure
Gains and
losses
£
£
£
45,168
(80,850)
-
-
(3,296)
(58,299)
45,168
(84,146)
(58,299)
Income
Expenditure
Gains and
losses
£
£
£
45,168
(80,850)
-
-
(3,296)
(58,299)
45,168
(84,146)
(58,299)
£
45,168
-
45,168

Income
Expenditure
Gains and
losses
£
£
£
55,245
(35,264)
-
-
(3,120)
43,954
55,245
(38,384)
43,954
£
55,245
-
55,245
Analysis of net assets between funds
Fund balances at 5 April 2025 are represented by:
Investments
Net current assets		 Endowment
Fund
Unrestricted
Funds
£
£
994,256
-
7,112
-
1,001,368
-

13 Analysis of net assets between funds

Comparative analysis of net assets between funds

Endowment
Fund
Unrestricted
Funds
£
£
Fund balances at 5 April 2024 are represented by:
Investments
1,080,943
-
Net current assets
17,702
-
1,098,645
-		 Total
£
1,080,943
17,702
1,098,645

THE SANTS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

14 Related party transactions

During the year, unrestricted donations of £nil were received from Trustees (2024: £10,000). See note 8 for details of Trustees' remuneration and expenses.