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:
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; or
3. 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**
3. **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.
Page 11
## **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|
Page 13
**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