OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Eric And Margaret Kinder Charitable Trust

2025-06-30-accounts

Registered Charity No 1136528

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

REPORTS AND FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

CONTENTS

PAGE
Reference and administration details 1
Trustees’ annual report 2 - 6
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the accounts
 10 - 16

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

Legal status The Eric and Margaret Kinder Charitable Trust is a charity (registered
number 1136528).
It was set up on 2 June 2010 and is governed by a trust deed.
Trustees The Trustees of the charity during the period were as follows:-
Mr C W Kinder
Mrs K M Allen
Registered office Wrigleys Solicitors LLP
3rdFloor, Wellington Place
Leeds
LS1 4AP
Independent examiner Michael Richard Nutt ACCA
SMH BullockWoodburn
Norfolk House
Hardwick Square North
Buxton
SK17 6PU
Bankers National Westminster Bank Plc
2 Howe Walk
Burnley
Lancashire
BB11 1NZ
Solicitors Wrigleys Solicitors LLP
3rdFloor, Wellington Place
Leeds
LS1 4AP
Investment advisers GAM London Limited
8 Finsbury Circus
London
EC2M 7GB

Page 1

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their report with the financial statements for the year ended 30 June 2025.

The legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements and the trust deed. They also comply with the Statement of Recommended Practice – ‘Accounting and Reporting by Charities’ (FRS 102) published in October 2019.

Structure, governance and management

Trustees

The Trustees of the charity during the year are as listed on page 1.

New trustees are appointed by a resolution of the existing Trustees, which is passed at a Trustees' meeting. The Trust Deed provides for a minimum of three and a maximum of eight individuals or a sole corporate trustee.

Trustees are recruited from the family and friends of Eric Kinder in order to maintain the ethos of the Trust. They are provided with training in charity law and trustees' obligations.

Organisational structure

The Trust was created by a Trust Deed dated 2 June 2010 made by Eric Kinder, Katharine Margaret Allen, Christopher William Kinder and Malcolm Harris. It was the intention of Eric Kinder to establish a charitable trust which had an endowment from which meaningful amounts of income could be used for charitable purposes.

In the period 2 June 2010 to 30 June 2017 the late Eric Kinder and his estate gifted a total of £2,032,162 to the Trust.

The Trust is registered with the Charity Commission (no 1136528).

The Trust was established to make funds available for charitable purposes. The Trustees must use the investment income and may use the capital of the Trust in promoting the objects.

The Trustees meet on a regular basis to review, make grants and are in constant communication on Trust matters throughout the year.

Risk assessment

The Trustees have examined the major strategic, business and operational risks which the Trust faces and confirm that systems have been established to enable regular reports to be produced, as required, to enable steps to be taken to lessen those risks. The Trustees are satisfied that the systems now in place are appropriate to the size and nature of the Trust and the limited scale and scope of its operations.

Objectives and activities

It has been the intention of the Trust to have a primary focus on supporting young people in developing careers in music and supporting Alzheimer’s disease, care & research, and cancer care & research. The trustees have focused their activities on the North West of England.

Grants are made at the discretion of the Trustees.

Page 2

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year. Details of how the charity has carried out it’s grant making activities for the public benefit are given in the achievements and performance section of this report.

Achievements and performance

Investment reports are provided by GAM on a three monthly basis. The Trustees review the performance figures provided by GAM against their investment objectives of attaining long term capital appreciation over the full investment cycle, typically five years, with a target volatility of 60% - 80% of World Equity markets, on a three monthly basis.

This is the fourteenth year that the Charity has made awards although some of these are commitments through to 2027. The awards to-date total £1,615,200 (£1,575,200 at 30 June 2024) and are broken down to the support of young people in developing careers in music 53.03% (51.83% at 30 June 2024) and medical research & the interaction of therapy created by music 46.97% (48.17% at 30 June 2024). The split of the awards is shown below and on page 4.

Music
First
Award
Date
Royal Liverpool
Philharmonic
31.08.11
Royal Northern
College of Music
04.01.11
Burnley Youth
Theatre
11.10.17
Primary Robins
2015
Olympias Music
Foundation
23.06.22
Awards for
Young Musicians
15.06.18		 Total
Awarded
Cumulative
285,000
338,000
145,000
19,500
67,500
1,500
856,500		 New Awards
since last
accounts
Sector
Whole
-
33.28%
17.64%
-
39.46%
20.93%
-
16.93%
8.98%
2,500
2.28%
1.21%
37,500
7.88%
4.18%
-
0.17%
0.09%
40,000
100.00%

Page 3

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025

Medical
First
Award
Date
Alzheimer’s
Research UK
05.05.11
Alzheimer’s
Society
30.11.12
Maggie
Keswick Jenks
Cancer Caring
Centres Trust
27.02.15
Christie
Hospital
2013
Crossroads
2015
Derian House
18.04.17
Manchester
Camerata
22.12.17
North West Air
Ambulance
14.02.20
Music
Medical research/therapy		 Total
Awarded
Cumulative
305,000
100,000
173,700
30,000
8,000
10,000
130,000
2,000
758,700
1,615,200
53.03%
46.97%		 New Awards
since last
accounts
Sector
Whole
-
40.20%
18.88%
-
13.18%
6.19%
-
22.89%
10.75%
-
3.95%
1.86%
-
1.06%
0.49%
-
1.32%
0.62%
-
17.14%
8.06%
-
0.26%
0.12%
-
100.00%
40,000
100.00%

The Trustees have regular follow-up meetings with all of the major beneficiaries to review the effectiveness of the various programmes supported by the Charity.

Page 4

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025

Financial review

Total income for the period under review amounted to £54,022 (2024: £85,777) whilst total expenditure amounted to £75,521 (2024: £58,413).

As a result, net expenditure for the year before other gains/losses amounted to £21,499 (2024: income £27,364). Net gains on investments amounted to £58,427 (2024: £299,990). Other recognised losses amounted to £2,869 (2024: £1,293).

In consequence the overall net inward movement in funds amounted to £34,059 (2024: £326,061) and this has resulted in funds of £2,397,028 to carry forward as at 30 June 2025 (2024: £2,362,969).

During the period under review, the Trust acquired investments costing £480,801 (2024: £515,423) and realised investments totalling £593,937 (2024: £580,044).

The market value of the Trust's remaining investments amounted to £2,536,440 at 30 June 2025 (2024:

£2,563,435).

The trustees aim to keep a level of liquidity within the Trust's assets and year on year will donate the surpluses of the Trust. The income/profits producing investments are maintained to generate future surpluses.

The principal source of funding for the Trust has been the Settlor, Eric Kinder deceased. The donations supported the key objectives of the Charity by enabling the Trustees to purchase investments that will generate capital growth and income which can then be used for grant making purposes.

Reserves policy

The intention of the Trustees is to maintain the capital value of the Trust and to make charitable donations which are broadly consistent with the income and capital appreciation arising from the investments held by the Trust. In view of this approach it is not felt necessary for any additional sums to be set as reserves.

At 30 June 2025, the charity had no free reserves (2024: £nil). The expendable endowment fund at 30 June 2025 amounted to £2,397,028 (2024: £2,362,969).

Plans for future periods

The Trust continues to look at opportunities to widen the scope of its awards within its stated objectives and activities focus. The Trustees have also agreed to set aside up to £10,000 per annum to cover smaller awards and donations similar to Crossroads, Primary Robins and Awards for Young Musicians.

Subject to investment returns being maintained at acceptable levels taking account of the risk profile agreed with the fund managers the trustees have a long term target of making overall annual awards in the range of £120,000 to £150,000.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Page 5

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025

Trustees' responsibilities statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial period 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 year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 28/4/2026 and signed on their behalf by:

C W Kinder Trustee

Page 6

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

Independent examiner’s report to the trustees of The Eric and Margaret Kinder Charitable Trust (“the Charity”)

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2025 which are set out on pages 8 to 16.

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 Directors given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Michael Richard Nutt ACCA SMH BullockWoodburn Norfolk House Hardwick Square North Buxton SL17 6PU

Date: 28/04/2026

Page 7

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 JUNE 2025

Expendable
Note
Unrestricted
Endowment
Funds
Fund
2025
2025
£
£
Income and endowments from
Investments
54,022 -

Total income and endowments
54,022
-
Expenditure on
Raising funds:
Investment management fees
-
8,655
Charitable activities
4
66,866 -

Total expenditure
66,866
8,655
Net gain/(loss) on investments
6 - 58,427

Net (expenditure)/ income
(12,844)
49,772
Transfers between funds
10
12,844 (12,844)
Other recognised losses
Exchange rate gains/(losses)
-
(2,869)
Net movement in funds
-
34,059
Reconciliation of funds
Total Funds brought forward
-
2,362,969

Total Funds carried forward
-
2,397,028		 Total
2025
£
54,022
54,022

8,655
66,866
75,521
58,427

36,928
-
(2,869)


34,059
2,362,969
2,397,028		 Total
2024
£
85,777
85,777
8,021
50,392
58,413
299,990
327,354
-
(1,293)
326,061
2,036,908
2,362,969

All amounts derive from continuing activities. All gains and losses recognised in the period are included in the Statement of Financial Activities.

Page 8

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

BALANCE SHEET AS AT 30 JUNE 2025

Note
Fixed assets
Investments
6

Current assets
Debtors
7
Cash at bank and in hand

Creditors due within one year
8

Net current assets/(liabilities)
Creditors due in more than one year
9
Net assets
Funds
Unrestricted funds
Expendable endowment fund		 Total
2025
£
£
2,536,440
-
166

166
(94,578)

(94,412)
(45,000)
2,397,028
-
2,397,028
2,397,028		 Total
2024
£
2,563,435
-
166
166
(110,632)
(110,466)
(90,000)
2,362,969
-
2,362,969
2,362,969

The financial statements on pages 8 to 16 were approved and authorised for issue by the Trustees on 28/04/2026 and signed on their behalf by:

C W Kinder Trustee

Page 9

THE ERIC AND MARGARET KINDER CHARITABLE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements are prepared under the historical cost convention. The financial statements have been prepared in accordance with Statement of Recommended Practice on Accounting and Reporting by Charities (SORP 2019) published in October 2019, applicable accounting standards, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The Eric and Margaret Kinder Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Fund Accounting

Unrestricted funds are those 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.

Expendable endowment fund

The expendable endowment fund comprises the gifts from Eric Kinder. Income from the endowment fund can be used in accordance with the objects of the charity and the capital may be expended at the discretion of the trustees.

Income

All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Page 10

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES - CONTINUED

Expenditure

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Trust.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Fixed asset investments

Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Derivatives

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

Gain and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the period end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.

Taxation

The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521 – s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 11

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

2025
Total
£
2.
NET EXPENDITURE
Surplus for the period is after charging:-
Independent examiner’s fees
1,860
3.
TRUSTEES’ REMUNERATION AND BENEFITS
No trustees’ remuneration or other benefits were paid during either year.
2025
Total
£
4.
COSTS OF CHARITABLE ACTIVITIES
Grants:
Institutions
40,000
Donations
10,000
Governance costs (note 5)
16,866
66,866
Grants awarded to institutions include grants to:
Burnley Youth Theatre
-
Olympias Music Foundation
37,500
Primary Robins
2,500
40,000
2025
Total
£
5.
GOVERNANCE
Accountancy & taxation fees
13,650
Independent examiner’s fees
1,860
Legal fees
1,356
16,866		 2024
Total
£
1,320
2024
Total
£
40,000
-
10,392
50,392
40,000
-
-
40,000
2024
Total
£
8,400
1,320
672
10,633

Page 12

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

2025
Total
£
6.
INVESTMENTS
Market value at 1 July 2024
2,521,039
Additions at cost
480,801
Disposals - proceeds
(593,937)
Gain on disposals
124,213
Gain/ (loss) on revaluation during the year
(65,786)
Market value at 30 June 2025
2,466,330
Cash held as investment
70,110
Total investments at 30 June 2025
2,536,440
2025
Total
£
7.
DEBTORS DUE WITHIN ONE YEAR
Share dealing debtors
-
-
2025
Total
£
8.
CREDITORS DUE WITHIN ONE YEAR
Grant commitments
82,500
Accruals and deferred income
12,078
94,578
2025
Total
£
9.
CREDITORS DUE IN MORE THAN ONE YEAR
Grant commitments
45,000
10.
TRANSFERS		 2024
Total
£
2,285,670
515,423
(580,044)
84,886
215,104
2,521,039
42,396
2,563,435
2024
Total
£
-
-
2024
Total
£
100,000
10,632
110,632
2024
Total
£
90,000

A transfer has been made from the expendable endowment fund to cover the deficit on the unrestricted fund in accordance with the provisions of the trust deed.

Page 13

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

11. RELATED PARTY TRANSACTIONS

There have been no related party transactions to disclose.

12. LEGACY

Eric Kinder, a trustee of the charity, died on 30 August 2011. The Trustees agreed with the Estate Administrators the final sum of the legacy which was fully reported in the 2017 accounts.

Page 14

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

13. STATEMENT OF FUNDS

FUNDS – CURRENT YEAR

1 July Income Expenditure Transfers Gains/ 30 June
2024 Losses 2025
£ £ £ £ £ £
Unrestricted funds - 54,022 (66,866) 12,844 - -
Expendable 2,362,969 - (8,655) (12,844) 55,558 2,397,028
Endowment fund
Total funds 2,362,969 54,022 (75,521) - 55,558 2,397,028

FUNDS – PRIOR YEAR

1 July Income Expenditure Transfers Gains/ 30 June
2023 Losses 2024
£ £ £ £ £ £
Unrestricted funds - 85,777 (50,392) (35,385) - -
Expendable 2,036,908 - (8,021) 35,385 298,697 2,362,969
Endowment fund
Total funds 2,036,908 85,777 (58,413) - 298,697 2,362,969

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current year
Investments
Cash and current investments
Other current assets / liabilities
Liabilities due in more than one year
Total		 Unrestricted
funds
Endowment
funds
Total
2025
2025
2025
£
£
£
-
2,536,440
2,536,440
-
166
166
-
(94,578)
(94,578)
-
(45,000)
(45,000)
-
2,397,028
2,397,028

Page 15

THE ERIC AND MARGARET KINDER CHARITABLE TRUST

NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 30 JUNE 2025

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS – CONTINUED

Prior year
Investments
Cash and current investments
Other current assets / liabilities
Liabilities due in more than one year
Total		 Unrestricted
funds
Endowment
funds
Total
2024
2024
2024
£
£
£
-
2,563,435
2,563,435
-
166
166
-
(110,632)
(110,632)
-
(90,000)
(90,000)
-
2,362,969
2,362,969

Page 16