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THE COOKE CHARITABLH TRUST
TRUSTEES' REPORT D FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 ABRIL 2025
CHARITY REGISTRATION NUMBER 1085916
THE COOKE CHARITABLK TRUST CHARITY REGISTRATION NUMBER 1085916
CONTENTS OF THE FINANCIAL BTATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
Page General Information | Trustees' Report 2-4 Independent Examiner's Report 5 Statement of Financial Activities 6 Balance Sheet 7 | Notes to the Financial Statements 8-11
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THE COOKE CHARITABLE TRUST GENERAL INFORMATION FOR THE YEAR ENDED 5 APRIL 2025
SETTLEMENT DATED
SETTLEMENT DATED 31 D@cember 2000 SETTLOR R WE Cooke Esq TRUSTEES R W € Cooke Esq | Mrs ¢ M Cooke | PS Vaines Esq CHARITY REGISTRATION NUMBER 1085916 | ADDRESS c/o Nevill Hovey & Co | Queehs Acre Boyt@n | Laun¢eston PL15 9RJ OBJECTS Theprimaryadvancement educationandin Greatsupport Britainof The relief of poverty ada in Suchthe worldother charitable purposes| as the trustees shall think fi ACCOUNTANTS Nevill Hovey & Co Queehs Acre Boyton Laungteston PL15 9RJ BANKERS Handelsbanken PLC | 3 Thqmas More Square | Londpn E1W 1WY | INVESTMENT MANAGERS Ruffdr Investment Management Limited 80 Victoria Street | Londpn SWIE 5JL Chur¢h House Investments Limited 50 Giosvenor Street Londpn WIK 3HW Page 1 |
SETTLOR TRUSTEES
CHARITY REGISTRATION NUMBER
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THE COOKE CHARITABLH TRUST
CHARITY NUMBER 1085916
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TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 5 ARIL 2025
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The Trustees present their report together with the financial statements fbr the Trust for the year ended 5 April 2025.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Cooke Charitable Trust is a charitable trust for general charitable pyrposes governed by a Charitable Trust Deed dated 318! December 2000 and constituted as an unincorporated associatfon. Clause 4 of the Charitable Trust Deed provides that the Trustees may apply all property held for the Charity fof the purposes of the Charity without distinction between capital and income. Trustees The Trustees at the date of this report and during the financial period coyered by the financial statements were as follows: R W C Cooke Esq Mrs C M Cooke PS Vaines Esq The Trustees were appointed by the Charitable Trust Deed. The power fo appoint new trustees is vested in the founder Mr R WC Cooke. In the event ofhis death, such power would pass to the remaining Trustees and may be exercised by a majority thereof. Trustees are recruited and appointed so as to ensure that the board takenJas a whole has a range of competencies and experience appropriate for a grant making charity of[this][size.] New trugtees are provided with a full induction to the charity and training is provided where required. The Trustees have recg¢ived no remuneration or expenses nor has any person connected with them. Trustees’ responsibilities The Trustees have a duty to prepare financial statements for each finangjal year which give a true jand fair view of the state ofaffairs of the Trust and its income and expenditure for that year} In preparing those financial statements, the Trustees are required to: e Select suitable accounting policies and then apply them consistently; e Make judgements and estimates that are reasonable and pruderft; and e Prepare the financial statements on the going concern basis unlkss it is inappropriate to presume that the Trust will continue its activities. The Trustees are responsible for keeping proper accounting records whith disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the [rust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that the financial statements comply with statutory requirements, the Charitable Trust Deed and the Charities SORP (FRS102) (Statement of Recommended Practice on Acbounting and Reporting by Charities) issued in July 2014.
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|Organisational|structure|
|Decisions|are|made|either|by|the|Trustees|as|a|whole|or|by|a|committedof the|Trustees.|
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Risks The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate these risks.
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OBJECTS AND ACTIVITIES
| Objects | ||
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| It is the object ofthe charity to apply its resources, at the discretion of tHeTrustees, to or for: | ||
| i. Theadvancement and support ofprimary education in Great Bifitain. |
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| ii. The reliefofpoverty anywhere in theworld including but not lfmited to those in circumstances ofextreme need |
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| by reason ofwar or civil conflict. | ||
| iii. Such other charities or charitable purposes as the Trustees shalf |
in their absolute discretion think fit. | |
| Aims | ||
| The aims oftheTrustees are, takingone year with another, to distribute | fa substantial proportion of | the net income ofthe |
| charity. | ||
| Objectives | ||
| The objectives of the Trustees are continually to improve the quality of | fhe Trust’s assets and the | return therefrom both in |
| terms ofannual income and in termsofcapital value, so that, over time.Jincreasing donations may | be made to charity. | |
| Strategies | ||
| The strategies ofthe Trustees are to: | ||
| e Improve the return from the Trust’s assets; |
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| e Review the Trust’s investments on a regular basis; an |
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| e Consider alternative investments as opportunities aris¢. |
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| Grant making policies | ||
| The grant making policies ofthe Trustees are to; | ||
| e Consider each application for financial assistance on |
ifs merits; and | |
| e Support local charities. |
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| PUBLIC BENEFIT | ||
| Taking fully into account the above objects, aims, objectives, strategiesfJand grant making policies, the Trustees have | ||
| concluded that the trust meets the public benefit requirement because: | ||
| 1. The benefits that arise from the trust’s aims are that the trust isfable to make grants and |
donations to other | |
| charities: | ||
| 2. The trust’s aims intend to benefit other charities; |
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| 3. There are no restrictions on who can have the opportunity to bénefit; and |
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| 4. Nobody receives any private benefit from the trust. |
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| ACHIEVEMENTS AND PERFORMANCE | ||
| Charitable activities undertaken | ||
| The Trustees have continued their operations ofmaking grants and don@tions to other charitable | bodies. | |
| Investment performance v. investment objectives | ||
| The Trustees keep the investment performance ofboth Ruffer Investmeht Management Limited | and Church House | |
| Investments Limited under regular review. | ||
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| Factors relevant to achievement ofobjectives | |||||
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| The factors relevant to the achievement ofthe Trust’s objectives includ | |||||
| e the employment ofprofessional advisers: |
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| e an annual review oftargets to improve the return from investm€nts; and |
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| e an updated risk assessment. |
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| FINANCIAL REVIEW | |||||
| Review offinancial position | |||||
| Income was £56,553 (2024: £57,566). Expenditure totalled £122,311 (2024: £60,171). |
There were net gains on | ||||
| revaluations and disposals ofinvestment assets totalling £7,508 (2024: | (£75,350) due principally | to the fluctuation ofthe | |||
| stock market. | |||||
| Reserves | |||||
| It is the policy ofthe Trustees that income reserves be kept to a minimum |
so that donations may | be maximised. | Total | ||
| income reserves at 5 April 2025 were £79,281 (2024: £145,039). | |||||
| Permanent Endowment Fund | |||||
| The capital account represents investment endowments, together with a/profit or loss arising from | both revaluation and | ||||
| disposal ofthese assets. | |||||
| Unrestricted Fund | |||||
| Surplus income not distributed during theyear is added to the general ufrestricted fund | and is available for future | ||||
| charitable distributions. | |||||
| Principal funding sources | |||||
| The principal funding source ofthe charity is investment income. | Exp@nditure in the year under | review has supported | |||
| the key objectivesofthe charity by assisting other charitable bodies. | |||||
| Investment powers and policy | |||||
| Clause 5 ofthe Charitable Trust Deed provides that the Trustees shall h@ve unrestricted | powers of | investing in all | |||
| respects as ifthey were absolutely entitled to the Trust Fund beneficially | and subject to | no restriction with regard | to | ||
| advice in relation to investment. | |||||
| In practice, it is the policy of the Trustees to maximise investment incothe | in the long term by investing in a balanced | ||||
| portfolio ofinvestments. | |||||
| Donations | |||||
| In the year ended 5 April 2025, the Trustees approved donations of | £108,800 (2024: £48,000). | ||||
| Plans for the future | |||||
| The Trustees’ plans for the future are to: | |||||
| e increase over time the amount ofdonations to charity; and |
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| e explore further opportunities for investment. |
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| Signed onbehalf of theTrustees |
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| RWCCoE | 14December2025 | ||||
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THE COOKE CHARITABLE TRUST CHARITY NUMBER 1085916
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INDEPENDENT EXAMINER'S REPORT
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to the Trustees of the Cooke Charitable Trust
I report to the charity trustees on my examination of the accounts 2025.
of the Trust for the year ended 5 April
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparationjof the accounts in accordance with the requirements of the Charities Act 2011 (“the Charities Act”).
Having satisfied myself that the accounts of the charity are not fequired to be audited and are eligible for independent examination, I report in respect of my examinatioy ofyour charity’s account under section Charity145 of the CommissionCharities Act. underIn sectioncarrying145(5)(b)out my ofexamination the CharitiesI hayeAkt.followed Directionsr given by the Independent examiner ’s statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that: i 1. accounting records were not kept in respect of tlfe charity in taal ad with section 130 of the Charities Act; or | 2. the accounts do not accord with those records; | 3. the accounts do not comply with the accounting}requirements of the Charities Act; or 4. the accounts have not been prepared in accordarfce with the methods and principles of the I Statement of Recommended Practice for accourjting and reporting " charities. have no concerns and have come across no other matters in c@nnection with the examination to which attention should be drawn in this report in order to enable a praper understanding of the accounts to be reached. r | T J Smith MA (Oxon) Nevill Hovey & Co Queens Acre Boyton Launceston PL1S ORJ Date: 15 December 2024) | Page 5
Independent examiner ’s statement
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|THE|COOKE|CHARITABLE|UST|
|CHARITY|NUMBER|1085996|
|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|FOR THE|YEAR|ENDED|5|APRIL|2025|
|Unrestricted|Permanent|Total|Total|
|Income|Endowment|Funds|Funds|
|Fund|Fund|ear|ended|Year|ended|
|5|April|2025|5|April|2024|
|£|£|£|£|
|INCOME|FROM:|Notes|
|Investments|4|56,553|-|56,553|57,566|
|TOTAL|INCOME|56,553|-|56,553|57,566|
|EXPENDITURE|ON:|
|Donations|5|108,800|-|108,800|48,000|
|Other|costs|6|13,511|-|13,511|12,171|
|TOTAL|EXPENDITURE|122,311|-|122,311|60,171|
|NET|GAINS ON|INVESTMENTS|7|-|7,508|7,508|75,350|
|NET|MOVEMENT|IN|FUNDS|(65,758|7,508|(58,250)|72,745|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|145,039|4,614,368|4,759,407|4,686,662|
|TOTAL|FUNDS CARRIED|FORWARD|9|79,281|4,621,876|4,701,157|4,759,407|
|The|notes|on|pages|8|to|11|form|part|of the|financial|statements|
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THE COOKE CHARITABLE JFRUST
CHARITY NUMBER 1085916
BALANCE SHEET
FOR THE YEAR ENDED 5 APRIL 2025
Notes 2025 2024
£ £
FIXED ASSETS
Investments 7 4,666,620 4,599,020
CURRENT ASSETS
Debtors 6,158 4,852
Cash at bank 8 31,279 155,390
37,437 160,242
CURRENT LIABILITIES
Creditors 2,900 72,600
NET CURRENT ASSETS 34,537 87,642
NET ASSETS 4,701,157 4,686,662
REPRESENTED BY |
Unrestricted funds 10 79,281 147,644
Permanent endowment fund 10 4,621,876 4,539,018
TOTAL FUNDS 4,701,157 4,686,662
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Signed on behalfof the Trustees
R WC Cooke Esq
14 December 2025
The notes on pages 8 to I1 form part of the financial statements
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THE COOKE CHARITABLE FRUST
CHARITY NUMBER 1085p 16
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
1 STATEMENT OF ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared in accordance with Acgounting and Reporting b
Charities: Statement of Recommended Practice applicable to chariti¢s preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective | January 2015) - (Charities SORP (FRS 102))} the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Ch@rities Act 2011.
The Cooke Charitable Trust meets the definition ofa public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction vallie unless otherwise stated in the
relevant accounting policy notes.
Investments
Investments are stated at market value (closing mid market) at the e@d of the year. Realised and
unrealised gains and losses on investments are included in the Statefnent of Financial Activities.
Incoming resources
Incoming resources are accounted for on a receivable basis. Incomifhg resources from endowment funds
are not restricted and are accounted for as unrestricted funds. No ifcoming resources are deferred.
No incoming resources have been included net of expenditure.
Resources expended
Liabilities are recognised when they arise. Donations are accounted for when approved by the Trustees.
Fund accounting
Unrestricted funds are available for use at the discretion of the Trusfees in furtherance of the general
objectivesof the Charitableof the CharitableTrust. TransfersTrust. betweenEndowmentfunds fundsmay arebe expendablemadeat th discretionfunds whichof representthe Trustees te capitalwithout
restriction.
2 TAXATION
No charge to taxation arises in respect of any of the activities of the}Charitable Trust by reason of its
charitable status.
3 EMPLOYEES
The average number of employees during the year was nil (2024 - nfl). As such, there were no
employees who received remuneration in excess of £60,000.
4 INCOME FROM INVESTMENTS
2025 2024
£ £
Dividends 55,489 49,753
Interest 1,064 7,813
56,553 57,566
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| THE COOKE CHARITABLE | THE COOKE CHARITABLE | THE COOKE CHARITABLE | TRUST | |||||
|---|---|---|---|---|---|---|---|---|
| CHARITY NUMBER 1085916 | ||||||||
| NOTES | TO THE FINANCIAL STATEMENTS | |||||||
| FOR | THE YEAR ENDED 5 APRIL 2025 | |||||||
| 5 | DONATIONS | 2025 | 2024 | |||||
| £ | £ | |||||||
| Medecins Sans Frontieres | 50,000 | - | ||||||
| Medical Aid for Palestians | 20,000 | - | ||||||
| OCF | 10,000 | - | ||||||
| Seenaryo | 10,000 | 10,000 | ||||||
| Water Harvest | 10,000 | 10,000 | ||||||
| Temlua | 5,000 | - | ||||||
| Disability Africa | 2,000 | - | ||||||
| Homestart Banbury | 1,800 | - | ||||||
| ArkT Centre | - | 15,000 | ||||||
| Disasters Emergency Committee Kids, Hackney |
- - |
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| 108,800 | 48,000 | |||||||
| 6 | OTHERCOSTS | £ | ||||||
| Accountancy | 1,950 | 1,900 | ||||||
| Independent examination | 950 | 850 | ||||||
| Investment management charges | 10,603 | 9,417 | ||||||
| Bank charges | 8 | 4 | ||||||
| 13,511 | 12,171 | |||||||
| 7 | INVESTMENTS | Cost | Marketvalue | |||||
| £ | £ | |||||||
| UK Investment and Unit Trusts | ||||||||
| 190,863 Church House | UK Equity Growth A Inc | 360,473 | 354,242 | |||||
| 145,562 Church House | Balanced | Equity IncomeA | Inc | 269,352 | 253,278 | |||
| 40,510 Church House | UK Smaller CompaniesA | Acc | 64,692 | 51,692 | ||||
| 32,535 Church House | Esk Global Equity A Inc | 115,448 | 149,111 | |||||
| 500,000 Church House | Human Capital | 500,000 | 478,700 | |||||
| 23,000 Murray International Trust | 51,032 | 56,695 | ||||||
| 6,400 Monks Investment Trust | 61,388 | 69,376 | ||||||
| 5,550 Scottish Mortgage Investment Trust | 40,728 | 47,475 | ||||||
| 13,000 JPMorgan American Investment Trust | 67,511 | 117,390 | ||||||
| 36,700 Mobius Investment Trust | 43,730 | 44,040 | ||||||
| 10,570 Blackrock Greater Euro | Investment Trust | 47,640 | 53,379 | |||||
| 4,885 Blackrock SmallerCompanies | 64,707 | 56,178 | ||||||
| 149,053 Church House | Investment Grade Fixed Interest | 171,426 | 157,698 | |||||
| UK Equities | ||||||||
| 120,000 Ethical Property Company |
117,200 | |||||||
| Absolute Return/Hedge Funds | ||||||||
| 419,416 LFRuffer Total Return C Inc | 1,467,955 | 1,382,994 | ||||||
| 68,687 LFRuffer Total Return C Acc | 395,584 | 380,443 | ||||||
| 50,512 Sanlam Four Multi Strategy Fund | 598,261 | 728,810 | ||||||
| 129,184 Church House | Tenax Absolute Return | 217,996 | 222,455 | |||||
| Cash Church House |
Investment Management | 7,464 | 7,464 | |||||
| Total investments held at 5 April 2025 | 4,662,587 | 4,666,620 | ||||||
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| THE COOKE CHARITABLE | THE COOKE CHARITABLE | {RUST | |||
|---|---|---|---|---|---|
| CHARITY NUMBER 1085916 | |||||
| NOTES | TO THE FINANCIAL STATEMENTS | ||||
| FOR THE | FOR THE YEAR ENDED 5 APRIL 2025 | ||||
| INVESTMENTS (continued) | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Market Value at 6 April 2024 | 4,711,908 | 4,599,020 | |||
| Additions at cost | 588,279 | 70,699 | |||
| Disposals | (630,435) | (39,124) | |||
| Gains and losses on revaluations | and disposals | 7,508 | 75,350 | ||
| (Decrease)/increase in cash held | for investment | (10,640) | 5,963 | ||
| Market value at 5 April 2025 | 4,666,620 | 4,711,908 | |||
| Additions at cost | Quantity | £ | |||
| 12 June 24 | ~—_LF Ruffer Total Return C Acc | 8,970 | 47,971 | ||
| 3 July 24 | Church House Human Capital | 500,000 | 500,000 | ||
| 27 Dec 24 | LF Ruffer Total Return C Acc | 2,851 | 15,056 | ||
| 5 Feb 25 | LF Ruffer Total Return C Acc | 9 | 51 | ||
| 26 Feb 25 | Blackrock SmallerCompanies | Companies | 1,930 | 25,197 | |
| LF Ruffer Total Return C Acc | 1 | 4 | |||
| 588,279 | |||||
| Disposals | |||||
| 16 Apr24 | Sanlam Four Multi | Strategy Fund | 9,529 | 130,738 | |
| 2 July 24 | Sanlam Four Multi | Strategy Fund | 35,247 | 499,697 | |
| 630,435 |
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THE COOKE CHARITABLE TRUST
CHARITY NUMBER 1085916
NOTES TO THE FINANCIAL STAYEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
8 CASH ACCOUNTS 2025 2024
£ £
Handelsbanken PLC - Current Account 31,27 12,094
Ruffer Investment Management Accumulated Income Account 34,706
Church House Investments Income Account 5
31,27 46,805
9 TRUSTEES' EXPENSES AND RELATED PARTY TRANSACTIONS
No trustee has been paid for services provided to the charity in tht year. Nor has any trustee claimed
expenses during the year. There have been no related party transactions in the reporting period that
require disclosure.
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Permanen Total
Income Endowment Funds
Fun Fund
£ £ £
Investments 4,473 4,621a 4,666,620
Debtors 6,158 6,158
Cash at bank 1,279 | 31,279
Creditors 2,900) L (2,900)
9,281 4,621,876 4,701,157
The Permanent Endowment Fund represents investments donated|by the founder of the
Charitable Trust, Mr R W C Cooke. There are no restrictions imposed on this capital fund since clause 4
of the Charitable Trust Deed provides that the Trustees may apply all property held for the Charity for the
purposes of the Charity without distinction between capital and ifjcome.
The Unrestricted Funds represent investment income net of experfditure and fund transfers made at the
discretion of the Trustees.
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