Charity number: 1129340 THE D M F ELLIS CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2024
THE DMF ELLIS CHARITABLE TRUST Content5 Page Reference and administrative information Trustees, report Independent Examinerfs report Statement of financial activities Balance sheet 8-14 Notes to the financial statements
THE DMF ELLIS CHARITABLE TRUST (created by a Declaration of Trust dated 20 April 2009 pursuant to the provisions of the Will of Doree Mary Fitzgerald Ellis who died on 30 October 20081 REFERENCE AND ADMINISTRATION INFORMATION Registered Charity Number 1129340 Trustees Peter Gary Barber Louise Sarah Woodhead Michael Wells Clerk Louise Ruane Address clo Pear Tree Cottage Yarrington Road Alfrick Worcs WR6 SEX 8ankers Cater Allen 2 Triton Square London NWI 3DU Solicitors Mills & Reeve LLP 78-84 Colmore Row Birmingham B3 2AB Independent Examiner Duffy Regan & Co 9 Malvern Road St lohr)'s Worcester WR2 4LE Investment Advisers Barratt and Cooke 5 Opie Street Nonmich NRI 3DW Pagel I
THE DMF ELLIS CHARITABLE TRUST TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2024. The financial statement5 have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charitls governing document, the Charities Act 2011 and 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 IFRS 1021- STRUuRE GOVERNANCE AND MANAGEMENT The D M F Ellis Charitable Trust was created pursuar)t to the terms of clause 6131 of the Will dated 11 September 1992 of Doree Mary Fitzgerld Ellis who died on 30 October 2008. The Trust was registered with the Charity Commission on 28 April 2009 and the governing document is the declaration of trust created on 20 April 2009. The Trustees who have setved during the period and since the year end are set out on page l. The Trustees have the power of appointing new trustees. The Trustees meet at approximately six monthly inteNals although applications for grants are considered all year round. The day to day management of the Charity is carried out by the Clerk, who also deals with the day to day financial management of the Charity and provides the Trustees with up to date financial information at trijstee meetings. The Trijstees have reviewed the major risks to which the Charity is exposed, in particular those relating to operations and finances, and are satisfied that systems are in place to mitigate exposure to those risks. OBJECTIVES AND ACTIVITIES The objectives are to apply the income, and all or such parts of the capit31 as the trustees think fit Iwhether through donations to other charities or by any other charitable means) for or towards such charitable purposes as the trustees think fit. The Charity has general grant-making charitable objects. The Trustees have referred to the guidance contoined in the Charity Commission's general guidance on public benefit when reviewing the Trust's aim and objectives and in planning future activities. In particular, the trustees have considered how planned activities will contribute to the aims and objectives set. ACHIEVEMENTS AND PERFORMANCE During the period the Trustees made grants totalling £339,06112023 - £225,619) in furtherance of their grant-making objects. Pagel 2
FINANCIAL REVIEW The Trustees aim to spend all current income and do not consider it necessary to hold any level of income reserves. The Trustees have wide investment powers subject only to the general duty of care set out in the Trustee Act 20. The Charity's investment strategy is to maintain a balance between income generation and capital growth. The Trustees accept a moderate level of risk as defined in the agreement with the Charitvs investment managers through a managed and diversified portfolio of investments. The main risk to the Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Liquidity risk is anticipated to be low as all assets are traded. The Charity's investments are mainly traded in markets with good liquidity and high trading volumes. The Charity has no material investment holding5 in markets subject to exchange controls or trading restrictions. The Charity manages these investment risks by retainin8 expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment classes that are quoted on recognised stock exchanges. The Charity does not make use of derivatives and Similar tomplex financial instruments as it take5 the view that investments are held for their longer term yield total return, and historic studies of quoted financial instruments have shown that volatility in any particular 5 year period will normally be corrected. The Charity's Financial Statements are set out in pages 6-14. The Trustees are satisfied that the Charity's financial position as shown on the Balance Sheet on page 7 is adequate for the purpose of fulfilling the Charity's obligations for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England arid Wales required 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 the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to-. Select suitable accounting policies and then apply them consistently- Observe the methods and principles in the Charities SORP IFRS 1021,. Make judgements and estimates that are reasonable and prudent- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. Pagel 3
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statement comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provision 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. FUNDS HELD AS CUSTODIAN The Charity does not hold funds as custodian. Approved by the Trustees on ° H 20 Page 14
INDEPENDENT EXAMINER'S REPORT THE D M F ELLIS CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the accounts of The DMF Ellis Charitable Trust (the Trust) for the year ended 31 December 2024. Res onsibilities and basis of re As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with 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 all the applicable Direction5 given by the Charity's Commission under section 14515llbl of the Act. Inde endent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. l. accounting record5 were not kept in respect of the Trust as required b'i sedion 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 content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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. James Wright-Anderson FCCA Chartered Certified Accountant Duffy Regan & Co. 9 Malvern Road Worcester WR2 4LE Pagel 5
THE D M F ELLIS CHARITABLETRUST STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 DECEM8ER 2024 Unrestricted Funds 2024 Totsl Funds 2024 Total Funds 2023 Note Income and Èndowments from: Investmet)ts Totsl Income Expenditure on: Charitable activities Grants Support costs 339,061 339,061 225,619 Total Expenditure 341175 341 175 227 719 Net expenditure before investment gains/ (losses) 1307,6771 1307.6771 1187,5041 Net gains /110sses1 on investments Net income I (expenditure) before other recognlsed gains and 1055e5 1295,7721 1295,7721 1131,3741 Net Movement in Funds 1295,7721 1295,7721 1131,3741 Recontiliation of Funds: Total Funds brought forward at l January 2023 1379 691 1379 691 1511065 Total Funds carried forward at 31 December 2024 The statement of financial activities includes all gains and losses recognised in the year. All incomin8 resources expended derive from continuing activities. Page 16
THE D M F ELLIS CHARITABLE TRUST BALANCE SHEET ASAT 31 DECEMBER 2024 Note 2024 2023 Fixed Assets Investments 1,039,167 1,310,755 Current Assets Cash at bank 45.352 69,536 Current liabillties Amounts falling due within one year 6(KJ Net Current Assets Total Current Assets Represented by: Unrestricted Funds The notes on pages 8- 14 form part of the financial statements. The financial statements on pages 6- 14 were approved and signed by the Trustees on 13" H* 2025. Pa8e17
THE D M F ELLIS CHARITABLE TRUST NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 I. ACCOUNTING POUCIES The Charity Constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. The particular accounting policies adopted are: a) Accountlng Conventlon The accounts are prepared on the historical cost basis of accounting modified to include listed investments at market value. Incoming resources and the application of those resources have been accounted for on the accruals basis of accountin8. b) Investments Investments are initially recognised at their transaction value and subsequently measured at their market values as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. c) Investment Gains and Losses Realised and unrealised gains and losses on investments are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and the values transferred in from the estate or purchase date if later. Unrealised gains and losses are calcLtlated as the difference between the market value at the end of the period and the transferred in value or purchase date if later. d) Income Income from investments is accounted for in the year in which it is reteivable. Interest on bank and stockbroker deposits is atcounted for in the year in which it is received. e) Expendlture Expenditure is accounted for on an accruals basi5. Support costs are those costs incurred dirertly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Grants payable are charged in the year when the offer is made. All resources expended are inclusive of irrecoverable VAT Page18
THE D M F ELLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Fund Accounting General funds are unrestritted 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. Investment income, gains and losses are allocated to the appropriate fund. 2. TAXATION The Trust Is a registered charity, number 1129340, and is exempt from Income Tax, Corporation Tax and Capital Gains Tax provided its income and gain5 are applied for charitable purposes. 3. TRUSTEES AND EMPLOYEE5 No remuneration was paid or payable in respect of the year out of the funds of the Trust either directly or indirectly to any Trustee or to any person known to be connected with them. There were no full or part time employees during the year. 4. INVESTMENT INCOME Unrestrirted Funds 2024 Total Fund5 2024 Total Funds 2023 Investment income from listed investments Investment income from cash dep051ts 33,498 33,498 40,215 5. GRANTS TO INSTITUTIONS Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Grant5 paid during the year (see notes 11 and 121 6. SUPPORT COSTS Unrestricted Funds 2024 Totsl Funds 2024 Total Funds 2023 Bank charges / interest Management and administration charges Governance Cost5 Inote 71 14 1,050 14 1.050 1,050 Page19
THE D M F ELLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7. GOVERNANCE COSTS Unrestrirted Funds 2024 Totsl Funds 2024 Total Funds 2023 Independent Examinerfs Fee Accountancy charges 600 450 600 450 450 8. INVESTMENTS 2024 2023 Market value at 31 December 2023 Additions Disposals Gains/llossesl during the period Market value at 31 December 2024 1.310,755 77,322 1360,8151 1,458,131 289,351 1493.3041 Book value at 310ecember 2024 All investments were held within the UK and were listed on a recognised stock exchange. 9. CREDITORS- amounts falling due within one year: 2024 2023 Independent examinerfs fee 600 600 10. STATEMENT OF FUNDS Brought forward Incoming Resources resources expended Gains I Carried {losses) forward Unrestricted funds Page | 10
THE D M F ELLIS CHARITABLE TRUST NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. GRANTS PAID DURING THE YEAR ENDED 31 DECEMBER 2024 126th Birmingham Scout Group Age UK Birmingham All Saints Youth Projert Andrew Simpson Foundation - PLEDGE ARCOS Beyond the Horizon Birmingham Children's Hospital Chartty Birmingham Hospice British Blind Sport Carers Trust Heart of England Child Autism UK Child Brain Injury Trust Climbing Out Compton Care Contatt A Family Coundon Care Seniors Club Coventry Resource Centre for the Blind Douglas Macmillar¢ Hospice EDT- Erigineering Development Trust Edward's Trust ESO120061 Ltd Happy Days Children's Charity Home-start Birmingham Tameside Interatt Stroke Support Joss Searchlight Katharine House Hospice Kemp Hospice Kids Kids Matter Kingswood Trust Lennox Children's Cancer Fund Life 2(KJ9 Liquid Listening Macmillan Cancer Support Maggs Day Centre Martineau Gardens 840 5,000 1,600 5,000 3,IKJO 4,(X)O 3,250 5,(XJO 2,000 5,1X)O 1,500 3,000 2,500 5,000 3,276 2.000 5.000 4,005 3,000 5,432 4.000 5,000 2.000 2,500 3,221 5,000 7,000 2,500 3,950 2,CrfJO 5,CKJO 3,tK)O 5,(X)O io,(x)o 2,CKJO 25,C(JO 3,500 Narthex Sparkhill New College Worcester Page | 11
THE D M F ELLIS CHARITABLE TRUST NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 Newlife for the Disabled Newstarts NICE Centre for Movement Disorders NMC Midlands RIC 1148855 OMEGA PCC of the Parish of St James, Fletchamstead, Coventry People's Dispensary for Sick Animals IPSDAI Primrose Hospice Queen Alexandra Charity Birmingham Railway Children Rock UK Safe Families for Children Sandwell Asian Development Association Sandwell Homeless and Resettlement Project Services for Education Severn Hospice Shine A Light SignHeolth Solihull Bereavement Counselling Service Spinal Muscular Atrophy UK Sport 4 Life UK St Anne's Hostel St Gabriel's Centre, Weobley Castle St John Ambulance 5.000 4,797 5,000 1,500 3.000 6,¢X)O 3.600 5.000 2,400 5,000 1,500 1,220 5,000 2,500 2,500 5,000 2,000 5,000 St Michael's Hospice St Paul's Hostel St Richard's Hospice Tall Ships Youth Trust The Brainwave Centre The Guardian Foundation The Haven Wolverhampton The LI Mae Foundation The Mary Stevens Hospice The PSP Association The Royal National College for the Blind The Wolverhampton Youth Zone Volunteering Matters Walsall Society for the Blind Whiii-Kidz Restricted Funds Only Worcester Warriors Community Foundation 22,345 9,325 5,000 1,000 5,000 2,800 5,000 5,000 2,500 3,IK)O 5,000 5,(K)O S,(K)O 339,061 Page | 12
THE D M F ELLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. GRANTS PAID DURING THE YEAR ENDED 31 DECEMBER 2023 Brimingham Hospice British Wireless for the Blind Compton Care Group Ltd Douglas Macmillan Hospice Fareshare Midlands Happy Days Childrens Charity Home for Hospital Care Katharine House Hospice Kids Like Us Maggs Day Centre Newlife the Charity for Disabled Children NICE Centre for Movement Disorders NMC Midlands IMD Supportl Safe Families for Children Spinal Muscular Atrophy Sport 4 Life UK St Georges House Charity St Michaels Hospice St Richards Hospice Suited for Success The Brain Tumour Charity The Brainwave Centre The Kenelm Youth Trust The Lily Mae Foundation The Primrose Hospice The PSP Association The Shakespeare H05pice Volunteering Matters Welcome to our Future 1,290 5,000 2,500 4,590 2,500 5,0(X) 3,OCKJ 2,OCIJ 2,049 2,771 5,0(X) 4,0(XJ 5,0(Xl 2,0 1,0 5,0(J) 2,5LLI 5,000 4,OLKI 3,000 2,284 2,500 3,0 5.000 3,9(X) 3,000 Wyeplay Advice for Renters Age UK Birmingham ASPIE Beyond the Horizon Brain Tumour Support Community Resource Crackerjacks Children's Trust Designability EDT Ex Cathedra Page | 13
THE D M F ELLIS CHARITABLE TRUST NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Go Beyond Grace Kelly Childhood Cancer Trust Guy's Gift Home from Hospital Care Home-start Birmingham Tameside Joss Searchlight KEMP Hospice Kids Kingswood Trust Marches Family Network Martineau Gardens Motor Neurone Disease Association OHMI OMEGA End of Life Care Association Sahara Icoventryl Ltd St Anne's Hostel Strongbones Children's Charity The Mary Stevens Hospice Unique - Rare Chromosome Disorder support Group Warwickshire Young Carers Whizz Kidz 2,216 5,000 1,800 2,000 2,5(X) 5,000 5,000 3,123 5,000 3,096 22 13. GRANT COMMITMENTS The trustees made a pledge to The Myriad Centre for £150,000 this is based on a series of conditions whith are expected to be fulfilled in the next 12 months. These commitments are to be funded from Unrestricted Funds. 14. RELATED PARTY TRANSAcfioNS There were no related party transactions during either the current or previous year. Page114