## **Trustees’ Annual Report for the period** ## **From 1 February 2024 To 31 January 2025** ## **Charity name: The Pell Charitable Trust** ## **Charity registration number: 1135398** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objects of the charity are to further such
objects or purposes which are exclusively
charitable according to the law of England and
Wales in any part of the world and in such
manner as the trustees may in their absolute
discretion think fit.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|In furtherance of the charity’s objects for the
public benefit the trustees shall provide grants.
In determining the charity’s activities the
trustees have had regard to the Charity
Commission’s guidance on public benefit.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|| **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference| |---|---| |Policy on grant making|Para 1.38| |Policy on social investment|Para 1.38| |including program related|| |investment|| |Contribution made by|Para 1.38| |volunteers|| |Other|| 1 ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|During the year under review the charity made
grants to 16 different organisations, totalling
£188,010.| **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Achievements against
objectives set|Para 1.41|| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| 2 ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|At the end of the reporting period the charity
had reserves of £25,444 (2024: £42,265). In
addition to the free reserves the charity has
bank balances of £140,085 (2024: £166,494)
and investments valued at £1,114,064 within
the 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.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|| |Amount of reserves held|Para 1.22|| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| 3 ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|The trust is governed by trust deed dated 19
March 2010.| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Trust| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Trustees are appointed by the Settlors jointly, or
survivors of them, during their lifetimes and
subject to this by trustees.| **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|| |Relationship with any related
parties|Para 1.51|| |Other||| ## **Reference and Administrative details** |Charity name|The Pell Charitable Trust| |---|---| |Other name the charity uses|| |Registered charity number|1135398| |Charity’s principal address|Trustees Department
1stFloor, Tower Wharf
Cheese Lane, Bristol
BS2 0JJ| 4 ## **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
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| ||Gordon Francis Pell|||| ||Marian Priscilla Pell|||| ||Oliver David Pell|||| ||Victoria Lundgren|||| ||Ludlow Trust
CompanyLimited||From: 04/09/2024|| ||Ludlow Trust
Company (London)
Limited
(Formerly: Messrs.
Hoare Trustees
Limited)||To: 04/09/2024|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved |**Director name**||| |---|---|---| |GarySt John Collins||| |Walter Duncan Coxon||| |Ali Reza Sarikhani||| |Ziba Christina Sakine Sarikhani||| |Christopher Ian Thurlow||| |Matthew John Wickers||| |Mr John Stephen Dennis|Resigned 25/10/2024|| Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** 5 ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of adviser**
**Name**
**Address**||| |**Investment Managers**|Coutts & Co.|440 Strand, London, WC2R 0QS| |**Bankers**|Coutts & Co|440 Strand, London, WC2R 0QS| |**Independent Examiner**|Geoffrey Frost|Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, West Sussex, PO19 1SY| |**Administrator**|Ludlow Trust Co
Ltd|Ludlow Trust Co Ltd, Tower Wharf, Cheese
Lane, Bristol, BS2 0JJ| **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** 6 ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** ~~re~~ **Full name(s)** Katherine Forder **Position (eg Secretary,** On behalf of Ludlow Trust **Chair, etc)** Company Limited (Trustee) **Date** 27 November 2025 7 |01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|01.02.2024
31.01.2025
**1135398**
**The Pell Charitable Trust**
**Receipts andpayments accounts**
Period start date
Period end date
**To**
**For the period**
**from**
~~ee~~|**CC16a**
~~-~~|| |---|---|---|---|---|---|---|---|---|---|---|---| |**Section A Receipts and payments**|||||||||||| ||**Unrestricted**
**funds**|||**Restricted**
**funds**||**Endowment**
**funds**||**Total funds**||**Last year**|| ||**to the nearest £**|||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**|| |**A1 Receipts**|||||||||||| |Income from investments|**23,465**|||**-**||**-**||**23**|**23,465**|**18,815**|| |Interest received|**4,150**|||**-**||**-**||**4**|**4,150**|**1,707**|| |Donation to trust from Settlor|**-**|||**-**||**400,004**||**400**|**400,004**|**160,000**|| |Historic investment managers fee compensation|**-**|||**-**||**12,400**||**12,400**|**12,400**|**4,875**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| |**_Sub total_**_(Gross income for AR)_|_(Gross income for AR)_**27,615**|||**-**||**412,404**||**440,019**|**440,019**|**185,397**|| |**A2 Asset and investment sales, (see**
**table).**
Sale of investments
**-**
**-**
**915,742**
**915,742**
**343,026**
**-**
**-**
**-**
**-**
**-**
**_Sub total_ -**
**-**
**915,742**
**915,742**
**343,026**
**_Total receipts_**
**27,615**
**-**
**1,328,146**
**1,355,761**
**528,423**
~~_——_—_—~~|||||||||||| |**A3 Payments**|||||||||||| |Grants awarded|**188,010**|||**-**||**-**||**188**|**188,010**|**101,870**|| |Investment managers fee(VAT inclusive)|**-**|||**-**||**5,383**||**5**|**5,383**|**3,497**|| |Trust administration fee(VAT inclusive)|**6,958**|||**-**||**-**||**6**|**6,958**|**9,181**|| |Independent Examiners fee|**780**|||**-**||**-**||**780**|**780**|**5,586**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| ||**-**|||**-**||**-**||**-**|**-**|**-**|| |**_Sub total_ **|**195,748**|||**-**||**5,383**||**201,131**|**201,131**|**120,134**|| |**A4 Asset and investment purchases,**
**(see table)**
Investmentpurchases
**-**
**-**
**1,197,860**
**1,197,860**
**356,481**
**-**
**-**
**-**
**-**
**-**
**_Sub total_ -**
**-**
**1,197,860**
**1,197,860**
**356,481**
**_Total payments_**
**195,748**
**-**
**1,203,243**
**1,398,991**
**476,615**
~~_———==~~|||||||||||| |**_Net of receipts/(payments)_**|**(168,133)**|||**-**|**-**|**124,903**|**124,903**|**- 43,230**|**- 43,230**|**- 43,230**
**51,808**|**51,808**| |**A5 Transfers between funds**|**151,312**|**312**||**-**|**-**|**(151,312)**||**-**|**-**|**-**|**-**| |**A6 Cash funds last year end**|**42,265**|**42,265**||**- 166,494**|**- 166,494**|**- 166,494**||**208,759**|**208,759**|**156,951**|**156,951**| |**_Cash funds this year end_**|**25,444**|**25,444**||**-**|**-**|**140,085**|**140,085**|**165,529**|**165,529**|**208,759**|**208,759**| CCXX R8 accounts (SS) 24/11/2025 8 ## **Section B Statement of assets and liabilities at the end of the period** ||||**Unrestricted**
**Restricted**|**Endowment**|| |---|---|---|---|---|---| |**Categories**|**Details**||**funds**
**funds**|**funds**|| ||||**to nearest £**
**to nearest £**|**to nearest £**|| |**B1 Cash funds**|**-**
**-**
**6,375**
**23,652**
**-**
**-**
**-**
**-**
**133,710**
**1,792**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**25,444**
**-**
**140,085**
Bank Account Capital
Current Account Capital
Bank Account Income
IM Account Capital
IM Account Income
**_Total cash funds_**
~~2s~~||||| ||(agree balances with receipts and payments|(agree balances with receipts and payments|||| ||account(s))||OK
OK|OK|| ||||**Unrestricted**
**Restricted**|**Endowment**|| ||||**funds**
**funds**|**funds**|| ||**Details**||**to nearest £**
**to nearest £**|**to nearest £**|| |**B2 Other monetary assets**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
~~—===~~||||| ||**Details**||**Fund to which**
**asset belongs**
**Cost (optional)**|**Current value**
**(optional)**|| |**B3 Investment assets**|**Endowment**
**-**
**1,114,064**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
Investment portfolio
~~===~~||||| ||**Details**||**Fund to which**
**asset belongs**
**Cost (optional)**|**Current value**
**(optional)**|| |**B4 Assets retained for the**
**charity’s own use**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
~~===~~||||| ||||**Fund to which**
**Amount due**|**When due**|| ||**Details**||**liability relates**
**(optional)**|**(optional)**|| |Signed by one or two trustees on behalf of
all the trustees
**B5 Liabilities**
CCXX R9 accounts (SS)|Endowment
**447**
Unrestricted
**780**
Unrestricted
**633**
**-**
**-**
Date of
approval
Print Name
Katherine Forder on behalf of Ludlow
Trust CompanyLimited(Trustee)
Signature
Investment management fee
Independent examination fee
Trust administration fee
9
24/11/2025
27 November 2025
~~=~~||||| ## **Independent Examiner's Report to the Trustees of The Pell Charitable Trust** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 January 2025 as set out on pages 8 to 9. ## **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: 1. 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. 28 November 2025 Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY