Charity registration number 1085955 (England and Wales)
THE CHARLES DUNSTONE CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE CHARLES DUNSTONE CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Denis Dunstone Adrian Bott John Gordon Robert Clarkson Charity number 1085955 Registered office Acre House 11-15 William Road London NW1 3ER United Kingdom Independent examiner Mark Taylor HW Fisher Professional Services Limited Acre House 11-15 William Road London NW1 3ER United Kingdom Bankers HSBC Private Bank (UK) Limited 8 Cork Street London W1S 3LJ
THE CHARLES DUNSTONE CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
THE CHARLES DUNSTONE 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 Foundation’s Trust Deed, the Charities Act 2011 and “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 from 1 January 2019).
Objectives and activities
The Trust's objects are to benefit charitable causes for all purposes which are charitable according to English law.
The Trust is currently supporting a small number of charities with whom it has an existing relationship. The trustees continue to respond to solicited applications only and strongly advise against submitting unsolicited applications.
Financial review
The net assets of the Trust as at 5 April 2025 amounted to £290,156 (2024: £552,027). The net decrease in funds for the year was £261,871 (2024: net decrease of £244,739).
During the year, the Trust received donations of £50,000 (2024: £nil) and made grants of £106,281 (2024: £239,080).
Reserves Policy
It is the policy of the Trust to maintain unrestricted funds (free reserves), at a level which will enable the Trust to meet grant commitments over the long term. Grants paid during the year are disclosed in note 5 of the accounts. The unrestricted funds of the Trust as at 05 April 2025 amounted to £290,156 (2024: £552,027).
Structure, governance and management
The Trust is registered with the Charity Commission (No. 1085955) and established by a charitable trust deed dated 10 November 2000.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Denis Dunstone
Adrian Bott John Gordon Robert Clarkson
Key management personnel comprise only the trustees. The Trust does not employ any staff but takes external advice as necessary. All decisions are taken by the trustees collectively.
The power of appointing new or additional trustees is vested with the existing trustees. The trustees regularly review and approve grant applications.
Details of related party transactions are included in note 13 to the accounts.
Risk assessment
The trustees maintain a risk register which is reviewed annually in order to assess the major risks to which the Charity is exposed. They are satisfied that systems are in place to manage exposure to risks. The main risk is considered to be the exposure to fluctuations in investment values.
Investment policy and investment performance
In accordance with the trust deed, the trustees have the power to invest in stocks, shares, investments and property as they see fit. The trustees' objective is to achieve returns above both inflation and those obtainable on bank deposits. Investment returns are to be achieved at an acceptance level of risk in order to fulfill the Trust's objects.
The Investments should be sufficiently liquid to meet any expenditure as determined by the trustees from time to time. The Trustees liaise regularly during the year to review investments.
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THE CHARLES DUNSTONE CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Public Benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The Trustees' report was approved by the Board of Trustees.
.............................. RClarkson
Robert Clarkson
Trustee 31 Oct 2025 Dated: .........................
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THE CHARLES DUNSTONE CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CHARLES DUNSTONE CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of The Charles Dunstone Charitable Trust (the Trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 in any material respect:
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1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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.
Mark Taylor
Mark Taylor
HW Fisher Professional Services Limited
Acre House 11-15 William Road London NW1 3ER United Kingdom
31 Oct 2025 Dated: .........................
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THE CHARLES DUNSTONE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Income from: | |||
| Donations | 3 | 50,000 | - |
| Investment income | 4 | 3,513 | 4,710 |
| Total income | 53,513 | 4,710 | |
| Expenditure on: | |||
| Charitable activities | 5 | 117,919 | 249,449 |
| Net gains/(losses) on investments | 9 | (197,465) | - |
| Net movement in funds | (261,871) | (244,739) | |
| Fund balances at 6 April 2024 | 552,027 | 796,766 | |
| Fund balances at 5 April 2025 | 290,156 | 552,027 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE CHARLES DUNSTONE CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Fixed assets Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities The funds of the Trust Unrestricted funds |
2025 £ 409 83,469 83,878 (3,792) |
£ 210,070 80,086 290,156 290,156 290,156 |
2024 £ - 179,382 179,382 (34,890) |
£ 407,535 144,492 |
|---|---|---|---|---|
| 552,027 | ||||
| 552,027 | ||||
| 552,027 |
31 Oct 2025
The financial statements were approved by the Trustees on .........................
RClarkson .............................. Robert Clarkson Trustee
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THE CHARLES DUNSTONE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Charity information
The Charles Dunstone Charitable Trust is a grant making trust with the objective of providing support to a range of charitable causes.
The registered address of charity is Acre House, 11-15 William Road, London, NW1 3ER.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Trust's Trust Deed, the Charities Act 2011 and “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 from 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash and share donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Dividend income from investments is recognised when the charity’s right to receive payment is established.
1.5 Resources expended
Resources expended are recognised in the period to which they relate.
All costs which can be directly attributed to charitable activities are allocated to the relevant activity. 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 settlement will be required and the amount of the obligation can be measured reliably.
Costs of charitable activities include grants made, governance costs and support costs.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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THE CHARLES DUNSTONE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
1.8 Financial instruments
The Charity has financial assets and financial liabilities only of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Critical accounting estimates and judgements
In the application of the Trust’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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There were no critical accounting estimates and judgements in the accounting period.
3 Donations
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and gifts | 50,000 | - |
| Investment income | ||
| Total | Total | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 3,513 | 4,710 |
4 Investment income
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THE CHARLES DUNSTONE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
5 Charitable activities
| Grants payable | Grants payable | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Children and youth | 60,931 | 53,580 |
| Community care and ethnic organisations | 45,350 | 185,500 |
| 106,281 | 239,080 | |
| Share of support costs (see note 6) | 5,519 | 5,508 |
| Share of governance costs (see note 6) | 6,119 | 4,861 |
| 117,919 | 249,449 |
6 Support costs
| Support costs Governance costs £ £ Legal and professional fee 5,018 - Insurance 501 - Accountancy - 6,072 Bank charges - 47 5,519 6,119 Analysed between Charitable activities 5,519 6,119 |
2025 Support costs Governance costs £ £ £ 5,018 4,560 - 501 948 - 6,072 - 4,800 47 - 61 11,638 5,508 4,861 11,638 5,508 4,861 |
2024 £ 4,560 948 4,800 61 |
|---|---|---|
| 10,369 | ||
| 10,369 |
Accountancy fees includes £6,072 (2024- £4,800) for Independent Examiner's fee, accountancy fees and general advice.
Support and governance costs are allocated to grant making activities.
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the current or prior year.
8 Employees
There were no employees during the current or prior year.
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THE CHARLES DUNSTONE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
9 Net gains/(losses) on investments
| Total | Total | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Revaluation of investments | (197,465) | - |
| Fixed asset investments | ||
| Listed | ||
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 6 April 2024 | 407,535 | |
| Valuation changes | (197,465) | |
| At 5 April 2025 | 210,070 | |
| Carrying amount | ||
| At 05 April 2025 | 210,070 | |
| At 05 April 2024 | 407,535 |
10 Fixed asset investments
The investments comprise a holding of 420,139 shares in TalkTalk Telecom Group plc valued at £0.50 per share.
11 Debtors
| Amounts falling due within one year: Prepayments 12 Creditors: amounts falling due within one year Accruals |
2025 £ 409 2025 £ 3,792 |
2024 £ - |
|---|---|---|
| 2024 £ 34,890 |
13 Related party transactions
The Founder of the Trust, Sir Charles Dunstone CVO is a Director of the Dunstone Education Trust, a UK school funding Trust, whose first Academy is the Fulwood Academy which was granted £20,000 (2024: £32,150) during the year.
The Founder of the Trust, Sir Charles Dunstone CVO provided the Charity a donation of £40,000 (2024: £nil) during the year.
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