Charity registration number: 1118590
MUCHLOVED CHARITABLE TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
MuchLoved Charitable Trust Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8—17 |
MuchLoved Charitable Trust Reference and Administrative Details For The Year Ended 31 December 2025
| Trustees | Mr J Davies - Chair |
|---|---|
| Mr J Lomax | |
| Charity Number | 1118590 |
| Principal Address | Nash House, Repton Place |
| White Lion Road | |
| Amersham | |
| Buckinghamshire | |
| HP7 9LP | |
| Independent Examiner | Anna Chapman FCA |
| Chapman Worth Limited | |
| Chartered Accountants | |
| 2 The Old Estate Yard | |
| High Street | |
| East Hendred | |
| Oxfordshire | |
| OX12 8JY |
Page 1
MuchLoved Charitable Trust
Trustees' Report For The Year Ended 31 December 2025
The trustees present their report and the financial statements for the year ended 31 December 2025.
Objectives and Activities
Aims and Objectives
The charity's objects are the relief of any persons who have suffered bereavement, particularly the death of a family member or friend, by providing or assisting in the provision of bereavement support, advice and counselling.
The policies adopted in furtherance of these objects are to work with partners providing at-need bereavement services as well as bereaved users directly. In particular the charity aims to enhance in-memory fundraising for good causes, by making it easier for bereaved people to fundraise in a personalised and meaningful way for any charities or causes of their choosing, big or small, within an often urgent time frame following a death.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the year the main activity has been the support of in-memory services, development of bereavement partnerships within the funeral and charity sectors as well as the provision of grief resources, advice and counselling.
Public Benefit
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
Main Achievements
There has been continuing high demand and use of the MuchLoved tribute service and over the year the charity has distributed over £35 million of donations to good causes across the UK in memory of loved ones.
Delivering compassionate, accessible and high-quality Grief Support remains a key aim and we have worked to enhance our bereavement care resources and to offer direct support to MuchLoved service users as well as expanding our reach to the bereaved public.
During the year we continued to partner with initiatives designed to empower society to explore and talk openly about death. We have also started a grant-making program to support local impact bereavement initiatives across the UK. This is targeting areas such as bereavement groups, counselling, self-care and therapy as well as in-memory projects, information and other related support. By the end of 2025 we had awarded our first nine grants under this program, which we plan to expand into next year.
Page 2
MuchLoved Charitable Trust Trustees' Report (continued) For The Year Ended 31 December 2025
Financial Review
Reserves Policy
The charity holds sufficient unrestricted cash funds to cover fluctuations in receipts and expenditure. Whilst the charity reports net current liabilites at the year end of £283,477 (2024 net current assets £525,189) it holds £703,707 in gilts which are included as fixed asset investments but can be sold for cash at any time. At the year-end the available reserves met the charity’s policy of a minimum three months' expenditure and going forward will provide the funds needed to support activities in pursuit of the charity's objectives.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Risk Management
The charity trustees follow a risk management strategy designed to identify principal risks and uncertainties that the charity may face and prevent it from achieving its objectives, together with reviewing the effectiveness of associated systems and procedures that are in place to mitigate against such risks.
Specific areas of risk identified and reviewed are as follows:
Financial sustainability: regular reviews of available funds are undertaken to ensure that all current liabilities have adequate cash coverage.
Information Technology risks: the security of the IT system is controlled and supervised by experienced technical staff.
Health and Safety of staff and visitors: this is constantly under review so that all requirements are met, and accident risks are minimised.
Structure, Governance and Management
Governing Document
The charity was established as an unincorporated organisation by a charitable trust deed on 28 February 2007.
Trustee Selection Methods
Trustee selection is made through appointment by the current trustees and new trustees are required to have a high level of commitment to MuchLoved with a suitable range of skills and experience so that they can help to constructively challenge and shape the strategy. All trustees give their time voluntarily and receive no remuneration or other benefits.
Daily operational responsibilities are delegated to key management personnel. Their pay and remuneration is reviewed annually and adjusted for factors including inflation, any change in responsibilities and any clear comparative benchmarking of similar roles.
Page 3
MuchLoved Charitable Trust Trustees' Report (continued) For The Year Ended 31 December 2025
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr J Davies
Trustee 27 July 2026
Page 4
MuchLoved Charitable Trust Independent Examiner's Report to the Trustees of MuchLoved Charitable Trust For The Year Ended 31 December 2025
I report to the trustees on my examination of the accounts of MuchLoved Charitable Trust (the Trust) for the year ended 31 December 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”).
I 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, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents 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.
Anna Chapman FCA 27 July 2026 Chapman Worth Limited Chartered Accountants 2 The Old Estate Yard High Street East Hendred Oxfordshire OX12 8JY
Page 5
MuchLoved Charitable Trust Statement of Financial Activities For The Year Ended 31 December 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Other trading activities 4 Investments 5 EXPENDITURE ON: Charitable activities: 6 Charitable activities NET INCOME BEFORE INVESTMENT GAINS Net losses on investments NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17 |
2025 Unrestricted funds £ 17,017 29,917 84,339 |
2024 Unrestricted funds £ 3,035 30,192 18,101 |
|---|---|---|
| 131,273 | 51,328 | |
| (83,768) | (40,549) | |
| 47,505 (6,134) |
10,779 - |
|
| 41,371 | 10,779 | |
| 41,371 704,509 |
10,779 693,730 |
|
| 745,880 | 704,509 |
The notes on pages 8 to 17 form part of these financial statements.
Page 6
MuchLoved Charitable Trust Statement of Financial Position As At 31 December 2025
| Notes FIXED ASSETS Tangible Assets 13 Investments 14 CURRENT ASSETS Debtors 15 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 16 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 17 On behalf of the board |
2025 Unrestricted funds £ - 1,029,357 |
2024 Total funds £ 4,320 175,000 |
|---|---|---|
| 1,029,357 205,745 3,267,441 |
179,320 236,591 3,032,370 |
|
| 3,473,186 (3,756,663) |
3,268,961 (2,743,772) |
|
| (283,477) | 525,189 | |
| 745,880 | 704,509 | |
| 745,880 | 704,509 | |
| 745,880 | 704,509 | |
| 745,880 | 704,509 | |
Mr J Davies
Trustee 27 July 2026
The notes on pages 8 to 17 form part of these financial statements.
Page 7
MuchLoved Charitable Trust Notes to the Financial Statements For The Year Ended 31 December 2025
1. General Information
MuchLoved Charitable Trust is an unincorporated charity registered with the Charity Commission, registered charity number 1118590. The principal address is Nash House, Repton Place, White Lion Road, Amersham, Buckinghamshire, HP7 9LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.3. Incoming Resources
Income is recognised when the charity 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 donations are recognised on receipt. Other donations are recognised once the charity 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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Page 8
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
2.4. Resources Expended
All expenditure is recognised on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be reliably measured. Expenditure is categorised under the following headings:
Expenditure on charitable activities includes the costs of activities undertaken to further the purpose of the charity.
Support costs are those costs incurred during activities that are no directly associated with the purpose of the charity.
Governance costs are the costs associated with the governance arrangements of the charity.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33.33% straight line Computer Equipment 33.33% straight line
2.6. 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.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Due to the size of the subsidiaries, the charity has not prepared consolidated accounts.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
Page 9
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
- Income from Donations and Legacies
| 3. Income from Donations and Legacies |
||
|---|---|---|
| 2025 2024 Unrestricted Unrestricted funds funds £ £ Donations and gifts 17,017 3,035 4. Income from Other Trading Activities 2025 2024 Unrestricted funds Unrestricted funds £ £ Property rental 29,917 30,192 5. Investment Income 2025 2024 Unrestricted Unrestricted funds funds £ £ Bank interest receivable 25,798 18,101 Interest from investments 9,841 - Dividends from investments 48,700 - 84,339 18,101 6. Analysis of Expenditure 2025 Grant funding of activities (see note 7) Support costs (see note 8) Total £ £ £ Charitable activities 17,100 66,668 83,768 |
2025 Unrestricted funds £ 17,017 |
2024 Unrestricted funds £ 3,035 |
| 2025 Unrestricted funds £ 29,917 |
2024 Unrestricted funds £ 30,192 |
|
| 2025 Unrestricted funds £ 25,798 9,841 48,700 |
2024 Unrestricted funds £ 18,101 - - |
|
| 84,339 | 18,101 |
Page 10
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
| Charitable activities 7. Grants Payable Charitable activities Grants paid to institutions, included above, are as follows: Friends Together Roseo Essence Creating Conversation Compassionate Friends Living on Bereavement Teresa Marshall Mosaic The Never Alone Project Jewish Bereavement |
2025 Grants to Institutions £ 17,100 |
2025 Grants to Institutions £ 17,100 |
2024 Support costs (see note 8) £ 40,549 2024 Grants to Institutions £ - |
2024 Support costs (see note 8) £ 40,549 |
|---|---|---|---|---|
| 2025 £ 1,500 500 2,200 2,500 2,500 500 2,500 2,500 2,400 |
2024 £ - - - - - - - - - |
|||
| 17,100 | - |
The charity has approved grants totalling £17,100, of which £15,600, was unpaid at the balance sheet date and included in creditors. Grants are made to institutions to support charitable objectives.
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MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
8. Support Costs
| Employee costs Premises expenses General administration Depreciation Governance costs Employee costs Premises expenses General administration Depreciation Governance costs |
2025 Charitable activities £ 55,465 29,917 (25,764) 4,320 2,730 |
|---|---|
| 66,668 | |
| 2024 Charitable activities £ (125) 30,192 735 6,578 3,169 |
|
| 40,549 |
9. Independent Examiner's Remuneration
Fees payable to the Independent Examiner for the examination of the financial statements is £2,025 (2024: £1,950).
10. Staff Costs
Staff costs were as follows:
| Wages and salaries Social security costs |
2025 £ 47,776 6,603 54,379 |
2024 £ - - |
|---|---|---|
| - |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
Page 12
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
11. Average Number of Employees
Average number of employees during the year was: 1 (2024: NIL)
12. Funds Received As Agent
The charity distributes in-memory donations from the MuchLoved platform which are given for onward transmission to an end charity specified by the user, after deduction of donation processing fees and addition of gift aid where applicable.
Whilst the legal position is that the donations are made to MuchLoved Charitable Trust with narrow restrictions as to how the bulk of the funds are applied, the accounting substance is one of acting as agent, with the charity having minimal discretion as to how funds are applied. For this reason, donations and the associated gift aid received and remitted onwards have not been accounted for as the income and expenditure of the charity.
Separately, the charity also acts as agent in collecting donation processing fees on behalf of Muchloved Limited, a related party. These amounts are likewise excluded from income and expenditure.
A summary of the amounts processed on this basis is shown below:
| Donations and HMRC Gift Aid MuchLoved Limited Donations and HMRC Gift Aid MuchLoved Limited |
As at 01 January 2025 £ 2,481,053 114,803 |
Amounts received £ 37,168,140 1,738,132 |
Amounts paid out £ (36,577,960) (1,259,537) |
As at 31 December 2025 £ 3,071,233 593,398 |
|---|---|---|---|---|
| 2,595,856 | 38,906,272 | (37,837,497) | 3,664,631 | |
| As at 01 January 2024 £ 2,127,047 - |
Amounts received £ 29,448,194 1,383,562 |
Amounts paid out £ (29,094,188) (1,268,759) |
As at 31 December 2024 £ 2,481,053 114,803 |
|
| 2,127,047 | 30,831,756 | (30,362,947) | 2,595,856 |
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MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
13. Tangible Assets
| Cost As at 1 January 2025 As at 31 December 2025 Depreciation As at 1 January 2025 Provided during the period As at 31 December 2025 Net Book Value As at 31 December 2025 As at 1 January 2025 14. Investments Cost or Valuation As at 1 January 2025 Additions Fair value adjustments As at 31 December 2025 Provision As at 1 January 2025 As at 31 December 2025 Net Book Value As at 31 December 2025 As at 1 January 2025 |
Fixtures & Fittings £ 11,587 |
Computer Equipment £ 41,254 |
Total £ 52,841 |
|---|---|---|---|
| 11,587 | 41,254 | 52,841 | |
| 11,185 402 |
37,336 3,918 |
48,521 4,320 |
|
| 11,587 | 41,254 | 52,841 | |
| - | - | - | |
| 402 | 3,918 | 4,320 | |
| Unlisted £ 175,000 150,650 - |
Other £ - 709,841 (6,134) |
Total £ 175,000 860,491 (6,134) |
|
| 325,650 | 703,707 | 1,029,357 | |
| - | - | - | |
| - | - | - | |
| 325,650 | 703,707 | 1,029,357 | |
| 175,000 | - | 175,000 |
14. Investments
Page 14
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
Subsidiaries
| Subsidiaries | Subsidiaries | Subsidiaries | Subsidiaries | |
|---|---|---|---|---|
| Details of the charity's subsidiaries as at 31 December 2025 are as follows: | ||||
| Name of undertaking | Registered Office | Class of | Direct | Indirect |
| shares held | holding | holding | ||
| Nash House Repton Place, | ||||
| MuchLoved Limited | White Lion Road, Amersham, England, HP7 |
Ordinary A | 50.00% | - |
| 9LP | ||||
| The aggregate capital and reserves and the result for the year of the subsidiaries listed above was | ||||
| as follows: | ||||
| Capital | Profit/(loss) | |||
| and | ||||
| Reserves | ||||
| £ | £ | |||
| MuchLoved Limited | 624,286 | 315,310 | ||
| Associates | ||||
| Details of the charity's associates as at 31 December 2025 are as follows: | ||||
| Name of undertaking | Registered Office | Class of | Direct | Indirect |
| shares held | holding | holding | ||
| Health Innovation One Sir | ||||
| GriefChat Ltd | John Fisher Drive, Lancaster University, |
Ordinary | 49.50% | - |
| England, LA1 4AT | ||||
| 15. Debtors |
||||
| 2025 | 2024 | |||
| £ | £ | |||
| Due within one year | ||||
| Amounts owed by group undertakings | - | 26,188 | ||
| Other debtors | 205,745 | 210,403 | ||
| 205,745 | 236,591 |
Page 15
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
16. Creditors: Amounts Falling Due Within One Year
| Trade creditors Amounts owed to group undertakings Other creditors Taxation and social security Accruals and deferred income |
2025 £ - 562,254 3,071,250 105,609 17,550 3,756,663 |
2024 £ 114,803 - 2,481,053 146,166 1,750 |
|---|---|---|
| 2,743,772 |
| 17. Movement in Funds Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 January 2025 £ 704,509 |
Income £ 131,273 |
Expenditure £ (89,902) |
As at 31 December 2025 £ 745,880 |
|---|---|---|---|---|
| 704,509 | 131,273 | (89,902) | 745,880 | |
| As at 1 January 2024 £ 693,730 |
Income £ 51,328 |
Expenditure £ (40,549) |
As at 31 December 2024 £ 704,509 |
|
| 693,730 | 51,328 | (40,549) | 704,509 |
Page 16
MuchLoved Charitable Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
18. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other Expenses | - | 6,424 |
Number of trustees reimbursed for expenses during the year was 0 (2024: 1)
19. Related Party Disclosures
During the year the charity entered into the following transactions with related parties:
There were no remunerations for key personnel in the year (2024: NIL).
At 31 December 2025 the charity owed £562,254 to its subsidiary MuchLoved Limited (2024: balance receivable of £26,188). The charity acted as agent in collecting donation processing fees on behalf of MuchLoved Limited. At the year end, £593,398 of processing fees were due to MuchLoved Limited.
Page 17