Trustees' Annual Report for the period
Period start date Period end date Day Month Year Day Month Year From 17 December 2023 To 16 December 2024
Section A Reference and administration details
Charity name The Ivatt and Pamela Smith Charitable Trust
Other names charity is known by Registered charity number (if any) 1129253 Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Ludlow Trust CompanyLimited |
||||
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– Corporate trustees names of the directors at the date the report was approved
Director name Gary St John Collins Walter Duncan Coxon Ali Reza Sarikhani Ziba Christina Sakine Sarikhani Christopher Ian Thurlow Matthew John Wickers
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
Names and addresses of advisers (Optional information)
Type of adviser Name Address
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
Trust deed dated 16 December 2008
- (eg. trust deed, constitution)
How the charity is constituted
Trust
- (eg. trust, association, company)
Trustees are appointed by the existing trustees. Trustee selection methods
- (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
-
policies and procedures adopted for the induction and training of trustees;
-
the charity’s organisational structure and any wider network with which the charity works;
-
relationship with any related parties;
-
trustees’ consideration of
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major risks and the system and procedures to manage them.
Section C Objectives and activities
The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income and all or such part or parts of the capital at such time or times and in such manner to or for the benefit of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their absolute discretion think fit. Provided that the Trustees may in their absolute discretion for the period of twenty-one years from the date of this Deed instead of applying the income of the Charity in any year accumulate all or any part of such income at Summary of the objects of the compound interest by investing the same and the resulting income in any charity set out in its of authorised investments and hold the same as an accretion to and as governing document part of the capital of the Charity without prejudice to the right of the Trustees to apply the whole or any part of such accumulated income in any subsequent year as if the same were income of the Charity arising in the then current year. The Trustees will take into account the Letter of Wishes which requests that consideration be given to benefit the following charities: St Clements Church, Leigh on Sea; St Augustine’s Church, Thorpe Bay; Christ Church Thorpe Bay and Thorpe Bay Methodist Church.
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In furtherance of the charity’s objects for the public benefit the trustees provides grants in accordance with the letter of wishes. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
-
contribution made by volunteers.
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Section D Achievements and performance
Summary of the main During the year under review the charity did not make any grants. achievements of the charity during the year
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Section E Financial review
At the end of the reporting period the charity had free reserves amounting to £26,043 (2023: £8,473).
Brief statement of the to £26,043 (2023: £8,473). charity’s policy on reserves In addition to the free reserves the charity has bank balances £57,657 (2023 deficit: £4,843) and investment assets of £630,881 within the expendable endowment fund.
The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.
Details of any funds materially
in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
-
the charity’s principal sources of funds (including any fundraising);
-
how expenditure has supported the key objectives of the charity;
-
investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s)[Chris Thurlow ] Position (eg Secretary, Chair, On behalf of Ludlow Trust etc) Company Limited Date 16/10/2025
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| Charity Name The Ivatt and Pamela Smith Charitable Trust |
Charity Name The Ivatt and Pamela Smith Charitable Trust |
Charity Name The Ivatt and Pamela Smith Charitable Trust |
No (if any) 1129253 |
|---|---|---|---|
| Receipts andpayments accounts | |||
| For the period from |
Period start date 17 December 2023 |
To | Period end date 16 December 2024 |
CC16a
For the period Period start date Period end date To from 17 December 2023 16 December 2024
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ 14,496 3,859 - - - - - - 18,355 - - - 18,355 - - 4,438 122 - - - - - 4,560 - - - 4,560 13,795 3,775 8,473 26,043 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - 215 - - - - - 215 1,560,255 - 1,560,255 1,560,470 - 2,708 - - - - - - - 2,708 1,491,487 - 1,491,487 1,494,195 66,275 (3,775) (4,843) 57,657 |
Total funds to the nearest £ 14,496 3,859 215 - - - - - 18,570 1,560,255 - 1,560,255 1,578,825 - 2,708 4,438 122 - - - - - 7,268 1,491,487 - 1,491,487 1,498,755 80,070 |
Total funds to the nearest £ 14,496 3,859 215 - - - - - 18,570 1,560,255 - 1,560,255 1,578,825 - 2,708 4,438 122 - - - - - 7,268 1,491,487 - 1,491,487 1,498,755 80,070 |
Last year to the nearest £ |
|---|---|---|---|---|---|---|
| Income from investments | 14,496 | 16,244 | ||||
| Income from bank interest | 3,859 | 967 | ||||
| Forex | - | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
18,355 | 17,211 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| Sale of investments | - | 304,987 | ||||
| - | - | |||||
| Sub total | - | 304,987 | ||||
| Total receipts A3 Payments |
||||||
| 322,198 | ||||||
| Grants awarded | - | 41,020 | ||||
| Investment management fees + VAT | - | 2,927 | ||||
| Trust administrative fees + VAT | 4,438 | 3,359 | ||||
| Cash management fees | 122 | 44 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 4,560 | 47,350 | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Investmentpurchases | - | 302,077 | ||||
| - | - | |||||
| **Sub total ** | - | 302,077 | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end ** |
||||||
| 349,427 | ||||||
| 13,795 | - | 66,275 | 80,070 | (27,229) | ||
| 3,775 | - | (3,775) | - | - | ||
| 8,473 | - | (4,843) | 3,630 | 30,859 | ||
| 26,043 | - | 57,657 | 83,700 | 3,630 |
CCXX R6 accounts (SS)
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| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B3 Investment assets B4 Assets retained for the charity’s own use B5 Liabilities |
(agree balances with receipts and payments account(s)) Details Capital account Income account Total cash funds Details Details Investment portfolio Details Details Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - 26,043 - - 26,043 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Chris Thurlow On behalf of Ludlow Trust Company Limited |
Endowment funds to nearest £ |
| 57,657 | |||
| - | |||
| - | |||
| 57,657 | |||
| OK | |||
| Endowment funds to nearest £ |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| 630,881 | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
|||
| Date of approval |
|||
| Chris Thurlow On behalf of Ludlow Trust Company Limited |
16/10/2025 |
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Section C Notes to the Accounts
C1 Nature and purpose of funds (may be Expendable endowment funds are those which are required to be invested to produce income but which may be stated on analysis of funds worksheets) transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives. Unrestricted income funds 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. C2 Grants to institutions Recipient - 1 grant unless annotated £ - C3 Related party transactions No trustee received any remuneration nor reimbiursed any expenses in the year under review. During the year under review Ludlow Trust Company Limited, a trustee of the charity, were paid fees for the provision of administration service amounting to £4,438 (2023: £3,359) and cash management service amounting to £122 (2023: £44) as authorised under clause 13 of the trust deed.
CCXX R8 accounts (SS)
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Independent Examiner's Report to the Trustees of The Ivatt and Pamela Smith Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 December 2024.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
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.
Geoffrey Frost BSc(Hons) FCA Date 16/10/2025 Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
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