2024-04-05-accounts - The Philip Marsden Family Charitable Trust

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Wealth Management

PHILIP MARSDEN FAMILY CHARITABLE TRUST

REPORT AND ACCOUNTS

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YEAR ENDED5 April 2024

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Version: 04/11/24

77No.1 Kingsway, London, WC2B 6AN handelsbanken.co.ukAvealthmanagement Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS

Handelsbanken Wealth & Assett Management is authorised and regulated by the Financial Conduct Authority in the conduct of investment business, and is a wholly-owned subsidiary of Handeisbanken plc. Registered Head Office: London address above. Registered in England No: 4132340. www.wealthand asset.handelsbanken.co.uk

PHILIP MARSDEN FAMILY CHARITABLE TRUST

INDEX

Year ended 5 April 2024

Te	Te	Te
		Page
General information		2
ReportofthePusteas		3-4
Independent examiner's report		5
Statement of trustees’ responsibilities		6
Statement of financial activities		7
Balance sheet	,	8
Cashflow		9

Accounting policies		10-11
Notestothefinancialstatements		12-15

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

GENERAL INFORMATION

Year ended 5 April 2024

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Year endedended5 April 2024	Year endedended5 April 2024	Year endedended5 April 2024	Year endedended5 April 2024
TT Trustees Austin Philip Marsden
		Valerie Judith Sloan Marsden
	a	Angus Austin Hodgart Marsden
		Rory John Roberts Marsden
		Pollyanna Cathryn Jope Marsden-Mallalieu
Address		77 Mount Ephraim
		Tunbridge Wells
		Kent
		TN4 8BS
Bankers		Handelsbanken London West End Branch
		3rd Floor
		86 Jermyn Street	:
		London
		SW1Y 6JD
Investment Managers:		Handelsbanken Wealth &Asset Management
		77 Mount Ephraim
		Tunbridge Wells
		Kent
		TN4 8BS
Independentexaminer		MrsKWhiley BKM Accounting Services
		5 Ashdown Chase
		Nutley
		East Sussex
		TN223LY
Registeredcharity	number	1083247

—— &° °° °°&«~ ea

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

REPORT OF THE TRUSTEES

Year ended 5 April 2024

SSSmmSS

The trustees present their report with the financial statements of the charity for the year to 5 April 2024. The trustees have adopted the provisions of 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).

Object and activities fdr the public benefit

To apply the income and such parts of the capital towards such charitable purposes and to make donations to such charitable institutions as the trustees at their discretion think fit. The trustees meet periodically in order to discuss new applications and to review those organisations already receiving donations. There is no specific category of charitable organisation which the trust supports.

The income of the trust is derived from donations and from funds on deposit.

There have been no changes during the year to the objectives of the trust or to the policies adopted in order to achieve those objectives.

Achievements & Performance

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The trustees carefully consider how their available resources can be utilised by way of grant making to existing charitable organisations in such a way as to maximise impact in the arrears covered by the trust objects. They maintain direct personal oversight of and interest in the grantee organisations with this in mind.

Financial Review

Unrestricted funds

Incoming resources for the year amounted to £7,910 compared to £66,842 for the period to 5 April 2023. Grants of £51,812 were made and support cost amounted to £3,820. The deficit has been made good by transfer from the expendable endowment fund. This compares to grants of £104,544 and support costs of £3,657 for the previous period.

Expendable endowment

Expendable endowment stood at £351,720 (2023: £387,605) at the balance sheet date and constitutes the free reserves.

Principal funding source

The principal funding source comprises gifts from the trustees of the charity and from investment income.

Investment policy and objectives

The trustees have agreed a medium to high risk profile.

Reserves policy

The trustees aim to maintain the endowment fund at a level to provide a sufficient capital base to generate an income level sufficient to maintain the level of grant making planned in the future. The trustees are satisfied with the current level of reserves.

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

REPORT OF THE TRUSTEES

Year ended 5 April 2024

OE Structure, governance and management

The Philip Marsden Family Charitable Trust is constituted by Deed of Trust dated 5 September 2000 and is a registered charity, number 1083247. : TrusteesNew trustees may be appointed by the existing trustees by virtue of a power contained within the trust deed. The trust deed provides for a minimum of three trustees.

Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustee New trustees may be appointed by the existing trustees by virtue of a power contained within the trust deed. A minimum of three trustees is required by the trust deed

Organisation structure

The trustees must hold at least two ordinary meetings each year. At those meetings, the trustees agree broad strategy and activity for the Trust, including consideration of grant making, investments and reserves.

Induction and training of new trustees

On appointment, new trustees must expressly acknowledge his or her acceptance of office of trustee of the charity. In selecting new trustees, the trustees must have regard to the skills, knowledge and experience needed for effective administration of the charity. New trustees are provided with a copy of the trust deed and a copy of the charity's latest report and accounts.

Risk management

The trustees have assessed the risks to which the charity might be exposed and consider them to be minimal. The trustees have addressed such risks that exist.

Approved by ordenof the board of trustees Othe ANZA 2e ___ 2\4.,..and signed on it behalf

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A P Marsden -
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V JS Marsden
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1083247

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

Independent Examiner's Report to the Trustees of Philip Marsden Family Charitable Trust - Charity Number:

Year ended 5 April 2024

a

|report on the accounts of the trust for the year ended 5 April 2024

Respective responsibilities of the trustees and examiner

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirement of the charities Act 2011 (‘the Act')

| report in respect of my examination of the trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

| am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

e the accounting records were not kept in accordance with section 130 of the Charites Act; or

e the accounts did not accord with the accounting records; or

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

| 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.

X Urilby

30/11/2024 Name: vo.cee eens eee Date: Pooococcococemmpoocaioosoo Karen Whiley

Relevant professional qualification or body: FMAAT

Address 5 Ashdown Chase

Nutley East Sussex TN22 3LY

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fi PHILIP MARSDEN FAMILY CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Year ended 5 April 2024

Se ne

Trustees' responsibilities in relation to the financial statements

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charitiés in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:

° select suitable accounting policies and then apply them consistently;
e observe the methods and principles of the Charities SORP (FRS 102);
° make judgements and accounting estimates that are reasonable and prudent;
° state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy 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.

Approved by jorder of the trustees on............09 \v2\ 292s.....and signed on its behalf by:

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A P Marsden Ps
V JS Marsden
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PHILIP MARSDEN FAMILY CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

Year ended 5 April 2024

tt	EEE	EEE	——————=—=—=———__—————————————————————_———————	——————=—=—=———__—————————————————————_———————
			Unrestricted	Expendable	Total	Total
			Income	endowment	this year	lastyear
		Note	Fund	Fund	2024	2023
			£	£	£	g
Income resources
VoluntaryIncome i
Donations		1	-	-	-	60,000
Tax refund due on gift aid			=	-	-	-
Investment income		2	7,910	-	7,910	6,842
Total incoming resources			7,910	-	7,910	66,842
Resources expended
Cost ofgenerating funds
Investment management costs				1,081	1,081	2,895
Charitable activities
Grants made		3	51,812		51,812	104,544
Governance cost		4	3,820		3,820	3,657
Total resources expended			55,632	1,081	56,713	111,096
Net incoming/(outgoing)	resources		(47,722)	(1,081)	(48,803)	(44,255)
before transfers
Gross transfers between funds			47,722	(47,722)
Net income/(outgoing) resources before			-	(48,803)	(48,803)	(44,255)
other recognised gains and losses
Other recognised gains and losses
Realised (losses)/gains on	investment assets	5	:	-	:	:
Unrealised (losses)/gains on investment assets		6		12,918	12,918	(7,769)
Netmovements infunds			=	(35,885)	(35,885)	(52,024)
Fund balance broughtforward at6 April 2023			-	387,605	387,605	439,629
Fund balance carried forward at5 April 2024			-	351,720	351,720	387,605
			7

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

BALANCE SHEET

As at 5 April 2024

As at 55 April 2024
eae ee ee	aeae		———==—————=
			Total	Total
		Note	this year	last year
			2024	2023
Fixed assets
Investment at marketvalue		7	153,760	140,842
Current assets Debtors		8	-	-
Cash at Handelsbanken			6,277	21,519
CashatHandelsbankenWealth andAssetMgt Creditors: amountsfallingduewithinoneyear		9	195,434 (3,750)	228,814 (3,570)
Net currentassets			197,960	246,763
Total assets less current liabilities			351,720	387 605
Funds
Expendable endowment fund (page 7)			351,720	387 605
Unrestricted income fund (page 7)			- 351,720	- 387,605

Approved)by order of the trustees on... a, Vac tebe and signed on its behalf by:

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AP Marsden —?
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VJS Marsden
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PHILIP MARSDEN FAMILY CHARITABLE TRUST

CASHFLOW STATEMENT

As at 5 April 2024

	2024	2023
Netincome fortheyear	(48,803)	(44,255)
Adjustmentsfor
Interest and dividends	(7,910)	(6,842)
Decrease/(Increase) in debtors	-	-
(Decrease)/Increase in creditors	180	194
Cash flowsfrom operating activities	(56,533)	(50,903)
Cash flows from investing activities
Interest and dividends	7,910	6,842
Proceeds from sale of investments	-	-
Purchase of investments	-	-
Net cash used by investing activities	7,910	6,842
Change in cash and cash equivalents	(48,623)	(44,061)
Cash and cash equivalents brought forward	250,334	294,395
Cashandcashequivalentscarriedforward	201,711	250,334

PHILIP MARSDEN FAMILY CHARITABLE TRUST

ACCOUNTING POLICIES

Year ended 5 April 2024

en

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) "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 the Republic of Ireland (FRS 102) (effective 1 January 2015)", Financial Reporting Staridard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared on a going concern basis and under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Foreign Currencies

; into sterling at the are translated into taken into account :

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

ACCOUNTING POLICIES

Year ended 5 April 2024

Investments

Investments are shown at market value at the balance sheet date. All gains or losses on the revaluation or on disposal are included in the Statement of Financial Activities

Investment income is recognised as receivable.

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2024

Year endedended 5 April 2024	Year endedended 5 April 2024	Year endedended 5 April 2024
EEE
	2024	2023
	£	£
1 Donations received
Cash receipts not qualifying for gift aid:
Return ofgrantfrom St Benets	-	60,000
Cash receipts qualifying for gift aid:
Philip Marsden	-	7
Valerie Marsden	:	-
	-	60,000
Shares:
2 Investment income
Dividends	7,651	6,43
Portfolio deposit interest	259	259
	7,910	6,842
3 Grants made
RoyalAcademy ofArts	1,300	-
Marylebone Cricket Club MCC Foundation	7,000	22,500
Down South London	1,000	-
Royal Horticultural Society	4,280	4,280
Cardinal Hume Centre	25,000	25,000
Multiple Sclerosis Society	5,000	11,000
Trinity Hospice	2,400	1,000
Just giving	1,501	-
University of StAndrews	100	100
The Chelsea Physic Garden	80	rai)
Company of Merchants	951	940
Enthuse	1,100
Future Talent Musicians	300	300
Othersmall grants	1,800
Royal Marsden Cancer Charity	-	25,000
The Hepworth Wakefield	-	350
Hampstead Theatre	-	822
World Heart	-	4,650
Just giving (sponsorship)	-	288
Just giving (sponsorship)	-	288
Cancer Research UK	-	500
Historic Royal Palaces	-	4,650
RoyalStGeorgesGolf(UrologyFoundation)	-	1,500

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PHILIP MARSDEN FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2024

AEEican

	Grants made...continued
	Wintershall ClO	-	300
	The Robin Dyer Fund (St Laurence Educational Trust)	-	1,000
4	Governance cost
	Independent examination fees	450	450
	Accountancy fees 2024 (2023)	2,760	2,640
	Preparation ofAnnual Return 2024 (2023)	540	480
	LE	renewal	60
	Bank charges	10	9
		3,820	3,657
5	Realised losses)/gains on investment assets
	There were no disposals in the year.
6	Fixed asset investments	2024	2023
		£	£
	Market value
	Carry (market) value at beginning ofyear	140,842	148,611
	Add Additions at cost	-	e
	Less disposals at carry value	5	2
	Add/(deduct) net gain/(loss) on revaluation (includes realised gains)	12,918	(7,769)
	Carry (market) value at end ofyear	153,760	140,842
7	Analysis of Investment
		Mkt Value	Mkt Value
		at year end	at year end
	InvestmentAssets
	250,000 Lloyds Banking Group Plc Ordinary Shares	133,300	121,075
	7007 Harbour Energy Ple Ordinary	20,460	19,767
	Total	153,760	140,842

The historic cost of these investment was £187,149 (2023 - £187,149)

PHILIP MARSDEN FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2024

HNa.

8	Debtors
9	Creditors: amount falling due within one year
	Accountancy fees (Handelsbanken)	- for2023/24		2760
	Preparation ofAnnuat Return 2024			540
	Independent examination fees			450
	Accountancy fees (Handelsbanken) - for 2022/23					2,640
	Preparation ofAnnual Return 2023					480
	Independent examination fees					450
				3,750		3,570
10	Analysis ofFunds
		At	Income	Expenditure	Gains/losses		At
		06-Apr-23				& transfers	05-Apr-24
		Ss	£	£		g	£
	Expendable endowment funds	387,605	-	(1,081)		(34,804)	351,720
	Unrestricted funds	-	7,910	(55,632)		47,722	-
		387,606	7,910	(56,713)		12,918	351,720
		At	Income	Expenditure	_Gains/losses		At
		06-Apr-22			& transfers		05-Apr-23
			£	a	£
	Expendable endowment funds	439,629	-	(2,895)		(49,129)	387,605
	Unrestricted funds	-	66,842	(108,201)		41,360	-
		439,630	66,842	(111,096)	-	7,769	387,606

Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general charitable objectives.

Expendable endowment funds are primarily invested to produce income but may be used to fund charitable purposes.

PHILIP MARSDEN FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2024

AA aaa NN

11 Related Party Disclosures

During the year Mr A P Marsden did not make any donations to the charity. (2023 £ nil) Mrs V J S Marsden did not make any donations to the charity. (2023 - £ nil)

12 Staff costs and Trustees' Remuneration and Benefits

There were no employees of the charity during the year. The trustees received no remuneration and were not reimbursed for any of the expenses in the year.