## 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<br>Wates|
||ABT<br>Wates (deceased 3 January 2026)|
||ALM<br>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: 

4. 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|
|---|---|---|---|
|———<br>Sas<br>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<br>Cash at bank and in hand (page 5)||1,000<br>84,707|1,000<br>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.<br>Charitable donations|2025|2024|
||£|£|
|Countryside Alliance<br>Institute forCancer Vaccines and Immunotherapy|1,500<br>-|1,000<br>10,000|
|Micklieham PCC|5,000|15,000|
|Royal Botanical Gardens Kew<br>Royal Horticultural Society<br>Royal Opera House CoventGarden Foundation<br>Sunshine & Smiles|4,325<br>4,000<br>2,060<br>-|4,325<br>4,280<br>4,000<br>540|
|Smile Train UK|.|1,000|
|Emanuel School General Charitable Trust|.|10,000|
|G.O.S.H|5|1,000|
|The Banks Archive Project<br>Ditch the Label|-<br>-|1,000<br>1,000|
|Care for Veterans|2,000|-|
|Foundation for Social<br>& Economic Thinking|2,000|-|
|The National Brain Appeal|5,000|-|
|National Gallery Trust<br>Macmillan Cancer Support|2,900<br>10,600|-<br>-|
|Strongbones Children's Charitable Trust<br>Gasp Motor Project<br>Ralph Bates Pancreatic Cancer|750<br>2,000<br>8,000|.<br>-<br>-|
|Reed’s Foundation|2,000|-|
|Kent, Surrey & Sussex Airand Ambulance|2,000|-|
|Intouch Group|750|-|
|Clothing Solutions<br>Wellspring Counselling Ltd|750<br>750|-<br>-|
|Other donations of£500 or less|7,200|8,660|
|Total|63,585|61,805|
|i|||
|2.<br>Accountancy and professional fees|2025<br>£|2024<br>£|
|Accountancy fees<br>Independent examiner's fees|4,700<br>1,000|-<br>-|
||5,700|-|



NTN —— 

8 

## THE BELLASIS TRUST 

NOTES TO THE FINANCIAL STATEMENTS 

## Year ended 5 April 2025 

## Se 

|3.<br>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<br>Additions<br>Disposals<br>Realised gain on disposals||946,258<br>717,961<br>(612,952)<br>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.<br>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 

ss.sws:!:.QQbv cc 

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



10