Charity number: 1113154
THE LUKE REES-PULLEY CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE LUKE REES-PULLEY CHARITABLE TRUST
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 13 |
THE LUKE REES-PULLEY CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025
Trustees R Rees-Pulley J C Rees-Pulley
Charity registered number 1113154 Principal office 21 Richmond Mansions 250 Old Brompton Road London SW5 9HN Accountants Sopher + Co LLP Chartered Accountants 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD
Page 1
THE LUKE REES-PULLEY CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report together with the financial statements of the The Luke Rees-Pulley Charitable Trust for the year 6 April 2024 to 5 April 2025.
Objectives and activities
a. Policies and objectives
The principal objects of the Charity are for general charitable purposes, with specific objective of promoting safe travel in Greater London.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The charitable objectives are also set out in order to provide a clear and demonstrable public benefit.
Achievements and performance
a. Main achievements of the Charity
The Trustees are pleased with the result of fundraising activities and have once again been able to deploy donations to the London Transport Museum.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The Charity maintains a general fund from which charitable donations to beneficiaries will be made. As at 5 April 2025 the charity had free reserves in the general fund of £123,877 (2024 - £89,472).
The Trustees consider it appropriate to hold unrestricted funds of at least £15,000 to provide support for future projects. The minimum level of reserves for the ongoing needs of the charity is reviewed by the trustees on an annual basis.
c. Material investments policy
There are no restrictions on the Charity’s power to invest. The investment strategy is set by the Trustees to take account of recent demand for funds and the quality of the funding applications. The Trustees apply the capital and income of the trust fund for such charitable purposes as they think fit at their discretion.
The Trust has continued to benefit from interest earned on bank deposits.
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THE LUKE REES-PULLEY CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
d. Principal funding
The Trustees raise funds for the Charity organising private events and discussing with potential sponsors. This year, the Charity received donations from various sponsors and fund-raising events. Details of the net income for the year are set out in the income and expenditure account.
Structure, governance and management
a. Constitution
The Luke Rees-Pulley Charitable Trust is a registered charity, number 1113154, and is constituted under a Trust deed.
b. Organisational structure and decision-making policies
The trustees who have served during the period and since the year-end are set out on page 1. Trustees are appointed by the board of trustees and serve until they choose to retire. Should a decision be made to recruit and appoint new trustees, the charity would take the necessary steps to identify appropriate candidates.
c. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
d. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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THE LUKE REES-PULLEY CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 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 the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
R Rees-Pulley Trustee Date: 28 October 2025
Page 4
THE LUKE REES-PULLEY CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025
Independent Examiner's Report to the Trustees of The Luke Rees-Pulley Charitable Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
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THE LUKE REES-PULLEY CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Stephen Iseman Sopher + Co LLP Chartered Accountants 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD
Dated: 28 October 2025 FCA
Page 6
THE LUKE REES-PULLEY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
| Note Income from: Donations and legacies: 2 Receipts from donors Income tax recoverable Bank interest received 3 Total income Expenditure on: Sundry costs 4 Grants and awards Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 37,045 9,111 1,152 47,308 493 12,410 12,903 34,405 89,472 34,405 123,877 |
Total funds 2025 £ 37,045 9,111 1,152 47,308 493 12,410 12,903 34,405 89,472 34,405 123,877 |
Total funds 2024 £ 20,800 5,075 909 |
|---|---|---|---|
| 26,784 | |||
| 633 12,380 |
|||
| 13,013 | |||
| 13,771 | |||
| 75,701 13,771 |
|||
| 89,472 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 13 form part of these financial statements.
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THE LUKE REES-PULLEY CHARITABLE TRUST
BALANCE SHEET AS AT 5 APRIL 2025
| 2025 | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Current assets | ||||||
| Debtors | 7 | 9,111 | 5,075 | |||
| Cash at bank and in hand | 121,215 | 84,397 | ||||
| 130,326 | 89,472 | |||||
| Current liabilities | ||||||
| Creditors: amounts falling due within one | ||||||
| year | 8 | (6,449) | - | |||
| Net current assets | 123,877 | 89,472 | ||||
| Total net assets | 123,877 | 89,472 | ||||
| Charity funds | ||||||
| Unrestricted funds | 9 | 123,877 | 89,472 | |||
| Total funds | 123,877 | 89,472 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
R Rees-Pulley Trustee Date: 28 October 2025
The notes on pages 9 to 13 form part of these financial statements.
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THE LUKE REES-PULLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
he financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition effective 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.
The Luke Rees-Pulley Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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THE LUKE REES-PULLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. Accounting policies (continued)
1.6 Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
Gift Aid receivable is recorded as accrued income at the reporting date.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities 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. Income from donations and legacies
| Unrestricted funds 2025 £ Donations 46,156 All donations were for unrestricted funds. Unrestricted funds 2024 £ Donations 25,875 |
Total funds 2025 £ 46,156 |
|---|---|
| Total funds 2024 £ 25,875 |
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THE LUKE REES-PULLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
3. Investment income
| Unrestricted funds 2025 £ Investment income 1,152 Unrestricted funds 2024 £ Investment income 909 |
Total funds 2025 £ 1,152 |
|---|---|
| Total funds 2024 £ 909 |
4. Expenditure on raising funds
Fundraising expenses
| Unrestricted funds 2025 £ Bank charges 493 Unrestricted funds 2024 £ Bank charges 633 |
Total funds 2025 £ 493 |
|---|---|
| Total funds 2024 £ 633 |
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THE LUKE REES-PULLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
5. Analysis of grants
| London Bus Driver of the year award The Bus Industry Awards Ltd London Bus Driver of the year award The Bus Industry Awards Ltd |
Grants to Institutions 2025 £ - 9,960 9,960 Grants to Institutions 2024 £ - 9,480 9,480 |
Grants to Individuals 2025 £ 2,450 - 2,450 Grants to Individuals 2024 £ 2,900 - 2,900 |
Total funds 2025 £ 2,450 9,960 |
|---|---|---|---|
| 12,410 | |||
| Total funds 2024 £ 2,900 9,480 |
|||
| 12,380 |
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL).
7. Debtors
| Gift aid recoverable 8. Creditors: Amounts falling due within one year Other creditors |
2025 £ 9,111 2025 £ 6,449 |
2024 £ 5,075 |
|---|---|---|
| 2024 £ - |
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THE LUKE REES-PULLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
| 9. Statement of funds Statement of funds - current year Balance at 6 April 2024 £ Unrestricted funds General Funds - all funds 89,472 Statement of funds - prior year Balance at 6 April 2023 £ Unrestricted funds General Funds - all funds 75,701 10. Analysis of net assets between funds Analysis of net assets between funds - current year Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Current assets |
Income £ 47,308 Income £ 26,784 |
Expenditure £ (12,903) Expenditure £ (13,013) Unrestricted funds 2025 £ 130,326 (6,449) 123,877 Unrestricted funds 2024 £ 89,472 |
Balance at 5 April 2025 £ 123,877 Balance at 5 April 2024 £ 89,472 Total funds 2025 £ 130,326 (6,449) |
|---|---|---|---|
| 123,877 Total funds 2024 £ 89,472 |
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SIGNATURE CERTIFICATE
Document
Name L453_2025_04_05_The Luke Rees-Pulley Charitable Trust - Fin Creator Nicole Meho (nicole.meho@sopherco.com) Date 07 November 2025 8:21:46 UTC Identifier 2ab45ba2-3d95-4845-92f3-070e768063b5
Signers
richardreespulley@gmail.com
E-mail richardreespulley@gmail.com Signed 07 November 2025 11:59:57 UTC IP address 90.216.28.151