2025-04-05-accounts

THE BELLASIS TRUST

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 5 APRIL 2025

Registered Charity Number 1085972

THE BELLASIS TRUST

INDEX

Year ended 5 April 2025

	Page
General information	2
Annual report	3
Independent examiner’s report	4
Statement of receipts and payments	5
Statement ofassets and liabilities	6
Accounting policies	7
Notes to the financial statements	8
Investmentschedule	10

1

THE BELLASIS TRUST

GENERAL INFORMATION

Year ended 5 April 2025

Established by Deed	29 December 2000
Trustees	PCR Wates
	ABT Wates (deceased 3 January 2026)
	ALM Elliot
Registered charity number	1085972
Principal office	Wates House
	Station Approach
	Leatherhead
	Surrey
	KT22 7SW
Trustsummary	The charity was established by a deed dated 29 December
	2000.
	The income and capital of the charity is held by the trustees
	for such persons as the trustees see fit, and in particular it is
	the intention of the trustees to support local charities for
	disadvantaged persons.
Independent examiner	D C MellorACACTA
	Dixon Wilson
	22 Chancery Lane
	London
	WC2A 1LS
Bankers	C. Hoare & Co.
	37 Fleet Street
	London
	EC4P4DQ

2

THE BELLASIS TRUST

ANNUAL REPORT

Year ended 5 April 2025

The trustees submit their report and accounts for the year ended 5 April 2025.

A summary of general information is presented on page 2, and should be read in conjunction with this report.

Trustees

The trustees who have served during the year are those shown on page 2. New trustees are recommended by one or more of the existing trustees, and their appointment is considered by the other trustees. The trustees have the power to invest as they think fit any funds not immediately required.

Objects

The object of the trust as set out in the Trust Deed is to apply the trust funds, at the trustees’ absolute discretion, to any charitable body, association, or organisation in the United Kingdom for charitable purposes, and it is the intention of the trustees to mainly support local charities for disadvantaged young people.

There have been no changes in these policies since the last annual report.

Risk management

The trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable them to review the financial position so that the necessary steps can be taken to minimise the potential impact of these risks.

Public benefit

The trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act.

Organisation

The charity is governed by its trustees who may exercise all the powers contained within the trust deed. The management of the financial affairs of the charity is overseen by the trustees.

Reserves

The trustees have determined that the donation of £604,392 received from the Langton Trust on 10 April 2001 should be retained. The unexpended net income generated from this gift is available for future donations, and is retained by the trustees until suitable donees are identified.

Review of the year

In the year to 5 April 2025, investment income generated incoming resources of £48,333 (2024 - £56,803) and £63,585 (2024 - £61,805) was paid out to 34 (2024 - 34) different causes. Incoming and outgoing resources for the year are set out in the Statement of receipts and payments on page 5.

In the opinion of the trustees, the charity's general progress is satisfactory.

Financial statements

These are set out on pages 5 to 10. They have been drawn up in compliance with the relevant provisions of the Charities Act 2011, and with the Trust Deed.

so) ff For and on rene of th trustees P CRWATES (;| y NyUIPee I5 206 Jay

7

THE BELLASIS TRUST

INDEPENDENT EXAMINER’S REPORT

Year ended 5 April 2025

oo,

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BELLASIS TRUST

| report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

| 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. Dixon Wilson, a firm of Chartered Accountants of which | am a partner has provided bookkeeping services to the Trust and | have applied the FRC’s Revised Ethical Standard in carrying out my examination.

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 than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, | express no opinion as to whether the accounts 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

| am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

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

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records.

| have no concerns and have come across no 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.

D C Mellor ACA CTA

Dixon Wilson 22 Chancery Lane London WC2A 1LS 29. Jory 2026

4

THE BELLASIS TRUST

STATEMENT OF RECEIPTS AND PAYMENTS

Year ended 5 April 2025

Year ended 5 April 2025	Year ended 5 April 2025	Year ended 5 April 2025	Year ended 5 April 2025
——— Sas ND
	Note	Unrestricted	Unrestricted
		Funds	Funds
		2025	2024
		£	£
Receipts
Incoming resources
Investment income:
Dividends		44,825	49,953
Deposit interest		3,508	6,850
		48,333	56,803
Sale of investments		612,952	-
Total incoming resources		661,285	56,803
Payments
Charitable activities:
Charitable donations	1	63,585	61,805
Purchase of investments		717,961	-
Governance costs:
Accountancy fees	2	4,700	.
Independent examination fee	2	1,000	-
Investment management fees		3,128	2,878
Other costs		370	380
		727,159	3,258
Total payments		790,744	65,063
Net outgoing resources forthe year		(129,459)	(8,260)
Cash funds at 5April 2024		214,166	222,426
Cashfundsat5April2025(page6)		84,707	214,166

All amounts are in respect of continuing operations.

5

THE BELLASIS TRUST

STATEMENT OF ASSETS AND LIABILITIES

At 5 April 2025

oe	oe	oe	oe
	Note	2025	2024
		£	£
Fixed assets
Investments at market value	3	989,690	946,258
Current assets
Shortterm deposit Cash at bank and in hand (page 5)		1,000 84,707	1,000 214,166
		85,707	215,166
Creditors: amounts falling duewithin one year	4	(2,260)	(4,660)
Net current assets		83,447	210,506
Net assets		1,073,137	1,156,764
Unrestrictedfund		1,073,137	1,156,764

The receipts and payments accounts on pages 5 to 10 were approved by the trustees on i) Oy, 2026 and signed by:-

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6

THE BELLASIS TRUST

ACCOUNTING POLICIES

Year ended 5 April 2025

_————eG The financial statements have been prepared in accordance with applicable accounting standards. The particular accounting policies adopted are described below.

Basis of accounting

The accounts have been prepared on a receipts and payments basis.

Investments

Investments are included in the Statement of Assets and Liabilities at their market value.

7

THE BELLASIS TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2025

na	na	na
1. Charitable donations	2025	2024
	£	£
Countryside Alliance Institute forCancer Vaccines and Immunotherapy	1,500 -	1,000 10,000
Micklieham PCC	5,000	15,000
Royal Botanical Gardens Kew Royal Horticultural Society Royal Opera House CoventGarden Foundation Sunshine & Smiles	4,325 4,000 2,060 -	4,325 4,280 4,000 540
Smile Train UK	.	1,000
Emanuel School General Charitable Trust	.	10,000
G.O.S.H	5	1,000
The Banks Archive Project Ditch the Label	- -	1,000 1,000
Care for Veterans	2,000	-
Foundation for Social & Economic Thinking	2,000	-
The National Brain Appeal	5,000	-
National Gallery Trust Macmillan Cancer Support	2,900 10,600	- -
Strongbones Children's Charitable Trust Gasp Motor Project Ralph Bates Pancreatic Cancer	750 2,000 8,000	. - -
Reed’s Foundation	2,000	-
Kent, Surrey & Sussex Airand Ambulance	2,000	-
Intouch Group	750	-
Clothing Solutions Wellspring Counselling Ltd	750 750	- -
Other donations of£500 or less	7,200	8,660
Total	63,585	61,805
i
2. Accountancy and professional fees	2025 £	2024 £
Accountancy fees Independent examiner's fees	4,700 1,000	- -
	5,700	-

NTN ——

8

THE BELLASIS TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 5 April 2025

Se

3. Investments
The trustees’ investments were made up as follows:
	Market value at	% oftotal
	5 April 2025	investments
	£
Cazenove Investment Portfolio	989,690	100%
Movement in fixed asset investments
Market value		£
Market value at 6 April 2024 Additions Disposals Realised gain on disposals		946,258 717,961 (612,952) 249,788
Net unrealised loss on revaluation		(311,365)
Market value at 5 April 2025		989,690
Investments at market value consist of
UK listed investments		989,690
At 5 April 2025		989,690
i
4. Creditors: amounts falling due within one year	2025	2024
	£	£
Accountancy fees	1,760	3,660
Independent examiner's fees	500	1,000
	2,260	4,660

—_—SSG

5. Trustees’ remuneration and expenses

Neither the trustees nor any person connected with them received any remuneration or reimbursement of expenses during the year.

———SSeee

9

THE BELLASIS TRUST

INVESTMENT SCHEDULE

Year ended & April 2026

i

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		At 6 April 2024		Purchases			Sales			At & April	2025
	Holding No.	Cost £	Market Value £	Holding No.	Cost £	Holding No.	Proceeds £	Realised Gain/(loss) £	Holding No.	Cost £	Market Value £	Unrealised Gain/(loss) £
Cazenove Investments
Charity Multi-Asset FundUnit S GBP Distribution SUTL Charity Res M-AFund S GBP Dis M&G Charifund	246,000 371,287 41,137	133,208 194,870 363,164	140,491 205,582 600,185	615,385 633,914 -	359,303 358,658 -	- - 41,137	- - 612,952	- - 249,788	861,385 1,005,201 -	492,511 553,528 -	464,975 524,715 -	(27,536) (28,813) -
	658.424	691,242	946,258	1,249,299	717,961	41,137	612,952	249,788	1,866,586	1,046,039	989,690	(56,349)

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