Charity Registration No. 1100514 LORD DACRE OF GLANTON CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Yshawgibbs accountants & business (vIse[S
LORD DACRE OF GLANTON CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Alastair Blair Worden Hugh Charles Stanley Buchanan James Douglas Howard Johnston Sir Noel Robert Malcolm Dr Brian Waller Young Dr Peter James Thonemann Charty number 1100514 Prlnclpal address St. John's House St John's Street Lechlade Glos GL7 3AS Independent examiner Shaw Gibbs Limrfced 264 Banbury Road Oxford OX2 7DY Investment advisors Sarasin & Partners Juxon House 100 Sl Paul's Churchyard London EC4M 8BU
LORD DACRE OF GLANTON CHARITABLE TRUST CONTENTS Page Trustees, report Independent examiner's report ststement of financial activities Balance sheet Notes lo the financial statements 6-11
LORD DACRE OF GLANTON CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees present their report and the unaudited financial slalements of the charty for the year ended 5 April 2025. The financial slalements have been prepared in accordan wlh the accounting policies set out in note 1 to the financial statements and comply with the charity's Declaration of Trust dated 6 December 2002, the Charities Act 2011 and Accounting and Reporting by Charilie5". 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 IFRS 1021 leffeclive 1 January 20191" Objectlves and actlvltles The Lord Dacre of Glanton Charitable Trust was set up in his will by Lord Dacre of Glanton, formerly HLJgh Trevor-Roper, the historian and former Regius Professor of History at the University of Oxford. He wished to provide for the 'Furtherance of Education., with particular referen to the Universities of Oxford and Cambridge. He invited the Trustees lo interpret his guidance flexibly, but wshed them in the first instsnce to concentrate on support for the tutorial system in the subjects of History and Classics in those Oxford Colleges with which he had been associated". Christ Church, Merton, and Oriel. He also requested his Trustees not lo overlook Pelerhouse, the Cambridge llege where he had been Master. The Trustees have accordingly supplied funding lo those four colleges. They have also, in the light of changes of financial need, widened the initial scope of their support in bNo respects.. to assist other Oxford colleges and the Oxford Faculties of History and Classics., and to provide scholarships for graduate students. In its activities during the year, the Trustees have paid due regard lo these Objectives. In selling these objectives and planning our activities the Trustees have paid due regard to the public benefit guidan issues by the Charity Commission. Achlevoments an(1 perfom)ance The Trustees met lce during the year. During this period trust funds remained suitably invested with Sarasin & Partnèrs and in accordance with Lord Dacre's wishes. The annual Dacre Lecture was given by Dr Dmilri Levilin. The Trustees approved the continuation of two graduate scholarships at New College and Christ Church Oxford. A further grant was made lo Peterhouse Cambridge in accordance with Lord Dacre's wishes. Flnanclal revlew A summary of the results for the year is given on page 4. The overall deficit for the year is offset by previous surpluses and does not unduly impact the permanent endo¥Mnenl. The Trust ¥MII continue to hold ils investment assets in order to transfer monies into the endowment fund to further ils objectives. structure, governance and management The charity was established by a charitable ITUSt deed on 6 December 2002. The trustees who served the charity during the year were.. Alastsir Blair Worden Hugh Charles Stanley Buchanan James Douglas Howard Johnston Sir Noel Robert Malcolm Dr Brian Waller Young Dr Peter James Thonemann
LORD DACRE OF GLANTON CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5APRIL 2025 statement of tru5tees' responsibilities The trustees are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards Iunrted Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees to prepare accounts 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 of the charity for that year. In preparing these accounts, the Iruslees are qUired lo." select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followetl, subject lo any material departures disclosed and explained in the accounts", and prepare the a¢nts on the going concem basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reportsl 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 thè prevention and detection of fraud and other irregularities. The trustees. report was approved by the Board of Trustees. Hugh Charles Stanley Buchanan Trustee Dated.. 03 Feb 2026
LORD DACRE OF GLANTON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LORD DACRE OF GLANTON CHARITABLE TRUST I report to the trustees on rny examination of the finanaal slalements of Lord Dacre of Glanlon Charitable Trust Ilhe charilyl for thè year ended 5 April 2025. Responsibilities and basis of report As the Iruslees of the charity you are responsible for the preparation of the financial stslemenls in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial slalemenls 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 se¢tion 14515llbl of the Charities Act 2011. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and conlenl of financial statements sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial slalements 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 lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. Ai Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY 03 Feb 2026 Dated..
LORD DACRE OF GLANTON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5APRIL 2025 Endowment funds 2025 Endowment funds 2024 Notes Income and endowments from- Investments other income 38,684 38,617 179 Total income and endowments 38,684 38,796 Expendlture on: Raising funds Charitablè activities Adminislralive costs other resources expended 200 37,500 2,640 2,310 192 43,294 2.312 375 Total expenditure 42,650 46,173 Net gainslllossesl on investments 11 126,5881 83,909 Net incomellexpenditurel and movement in funds 130,5541 76,532 Reconciliation of funds- Fund balances al 6 April 2024 1,359,831 1,283,299 Fund balances at S April 2025 1,329,277 1,359,831 All income and expenditure derive from continuing aclivilies. All income and expenditure relates lo the pemianenl endowment fund.
LORD DACRE OF GLANTON CHARITABLE TRUST BALANCE SHEET ASAT5APRIL 2025 2025 2024 Notes Fixed assets Investments 13 1,331,075 1,359,685 Current assets Cash at bank and in hand 602 2,366 Creditors- amounts falling due within one yoar 14 12,4001 12,2201 Net current Iliabilitiesllassets 11,7981 146 Total assets less current liabilities 1,329,277 1,359,831 The funds ofthe charity Endowment funds 15 1,329,277 1,359.831 1,329,277 1,359,831 03 Feb 2026 The financial stslemenls were approved by the trustees on . Hugh Charles Stsnley Buchanan Trustee
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies Charity inforniation Lord Dacre of Glanlon Charitable Trust is a an unincorporated charity estsblished under a trust deed dated 6 December 2002. The registered address is Home Fami, Pusey, Faringdon, SN7 8QB. 1.1 Basls of preparatlon The accounts have been prepared in accordance with the Charities Act 2011 and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. las amended for 8¢counling periods commèncing from 1 January 20161. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalement of Cash Flows. These finanaal slalements for the year ended 5 April 2025 are the first financial slalements of Lord Dacre of Glanton Charitable Trust prepared in accordance wth FRS 102, The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 6 April 2023. The reported financial position and financial perfomiance for the previous period are not affected by the transition to FRS 102. The financial ststements are prepared in $terfing, which is the fun¢tional curren¢y of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts are prepared under the historical Cost convention ¥Mth the exception of investments, which are slated at fair value. 1.2 Golng concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting In preparing the financial stalemenls. 1.3 Charltable funds Endowment funds represent those assets which musl be held permanently by the charity, principally inveslmenls. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unreslricled income. Any capital gains or losses arising on the investments fomi part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund. Investment income and gains are allocated lo the revaluation reserve. 1.4 Income Income is recognised when the charity is legally enlilled to il after any performance conditions have bèen mel, the amounts can be measured reliably, and il is probable that income will be received.
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles Icontlnuedl 1.5 Expendltu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The c051s of each activity are made up of the lolal of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated dire¢lly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs. and are subsequently measured at fair value al each reporting date. Changes in fair value are recognised in nel inme1(expenditLjreI for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.8 Employe& bengflts The cost of any unused holiday enlilement is recognised in the period in which the employee's services are received. Temination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide lerminalion benefits. Investments 2025 2024 Dividends Interest receivable 37,668 1,018 37,851 766 38,684 38,617 Other income Endowment Endowment funds funds 2025 2024 Other income 179
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 Expenditure on raising funds Endowment Endowment funds funds 2025 2024 Investment management 200 192 Expenditure on charitable activities Furtherancè Furtheranc of education of oducation 2025 2024 Direct costs Grant funding of activities (see note 61 37,500 43,294 Analysis by fund Endowment funds 37,500 43,294 Grants payablg Furtherance Furtherance of education of education 2025 2024 Grants lo institutions". New COlle Christ Church College Peterhouse Development Fund University of Oxford Intellectual History Sl Edmund H811 18.000 16,500 1,000 2,000 15.500 21,500 2,000 2,000 1,174 37,500 42,174 Grants lo individuals 1,120 37,500 43.294
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 Support costs allocated to activities 2025 2024 Bank charges Governance costs 60 2,580 92 2,220 2,640 2,312 Analysed between: Adminislralive costs 2,640 2,312 2025 2024 Govornan¢g costs comprlsg.. Independent examination fees 2,580 2,220 2,580 2,220 Other rosQU9$ gxpgnd&d Endowment Endowment funds funds 2025 2024 Dacre Lecture expenses 2,310 375 Trustees None of the Iruslees were paid any remuneration by the Charity during the year12024- nonel. 10 Employees The average monthly number of erllployees during the year was.. 2025 Number 2024 Number Total There were no ernployees whose annual remuneration was more than £60,000.
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 11 Gains and losses on investments Endowment Endowment funds funds 2025 2024 Gainslllossesl arising on.. Revaluation of investments Sale of investments 126,5881 76,780 7,129 126,5881 83,909 12 Taxatlon The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 13 Fixed asset investments Llsted Inveslmgnts Cash In portfollo Total Cost or valuation Al 6 April 2024 Valuation changes Investment income Withdrawals and expenses 1,341,580 126,5871 18,105 1,359.685 126,5871 38,674 140,6971 38,674 140,6971 Al 5 April 2025 1,314,993 16,082 1,331,075 Carrying amount Al 05 April 2025 1,314.993 16.082 1,331,075 Al 05 April 2024 1,341,580 18,105 1,359,685 14 Creditors: amounts falling due within one year 2025 2024 Accruals 2,400 2,220 10-
LORD DACRE OF GLANTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 15 Endowment funds Endowment funds represent assets which musl be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity. Any capital gains or losses arising on the assets forrn part of the fund. At 6 April 2024 Incoming resources Resources expended Gains and losses At 5 April 2025 Permanent endowments 1,359,831 38,684 142,6501 126,5881 1,329,277 Previous year: At 6 April 2023 Incoming resources Resources expended Gains and losses At 5 April 2024 Permanent endowments Endowment 1,283,299 38,796 146,1731 83,909 1,359,831 These funds were sel up from certain bequests made lo the charity by Hugh Redwald Trevor Roper Lord Dacre of Glanlon, on 6 December 2002. 16 Analysis of net assets between funds Endowment funds 2025 At SApril 2025: Investments Current assetsllliabililiesl 1,331,075 11.7981 1,329,277 Endowment funds 2024 At S Aprll 2024: Investments Current assetsllliabililiesl 1,359,685 146 1,359,831 17 Related party transactions There were no disclosable related paty transactions during the year12024 - none).