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← The Marchus Trust

2025-03-31-accounts

Charity number: 1137768

THE MARCHUS TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE MARCHUS TRUST

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 5
Independent auditor's report 6 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 22

THE MARCHUS TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Mr Spencer de Grey, Trustee
Mrs Lucy de Grey, Trustee
Mrs Caroline Reekie, Trustee
Charity registered
number 1137768
Principal office The Marchus Trust
Leytonstone House
3 Hanbury Drive
Leytonstone
London
E11 1GA
Independent auditor Barnes Roffe Audit Limited
Chartered Accountants
Leytonstone House
Leytonstone
London
E11 1GA
Bankers Coutts & Co.
440 Strand
London
WC2R 0QS

Page 1

THE MARCHUS TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of The Marchus Trust (the charity) for the year ended 31 March 2025. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in January 2015.

Structure, governance and management

a. Constitution

The Trust is registered as a charity (with charity number 1137768), and was set up by a Trust Deed on 22 December 2008, as amended by supplemental deed dated 16 August 2010.

The Trustees, who were Trustees at any time during the financial year, and who were Trustees at the date this report was approved, are detailed below;

Mr Spencer de Grey Mrs Caroline Reekie Mrs Lucy de Grey

There have been no changes in the objectives since the last annual report.

b. Method of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Policies adopted for the induction and training of Trustees

The Trustees are familiar with the practical work of the charity and take an active role in the work of the charity and the grants it awards.

d. Organisational structure and decision making

The Marchus Trust has three dedicated Trustees who are responsible for the strategic direction and policy of the charity. Although there are no distinct and separate roles between Trustees, all Trustees have an equal say in the decisions of the charity and no one Trustee has overall control. We feel that this organisational structure best meets the polices and objectives of the charity.

e. Related party relationships

The charity regards the Trustees and the organisations it makes charitable grants as related parties and transactions between the charity and related parties are described in the notes to the accounts.

f. Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions.

Page 2

THE MARCHUS TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and Activities

a. Policies and objectives

The advancement of culture and the arts particularly but not exclusively through sponsoring or commissioning musical works, performances and the development of construction of buildings or parts of buildings for music and other art forms; and the advancement of education.

b. Activities for achieving objectives

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. They intend to advance culture and the arts by:

The above activities will be carried out by the provision of grants to individuals.

The Trustees also intend to advance the education of architect and/or the study of architecture by sponsoring (amongst other things):

c. Grant making policies

All incoming resources are used in the furtherance of charitable activities.

Achievements and performance

a. 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.

b. Review of activities

The charity has complete support of the Trustees and most of its funding requirements are satiated by the Trustees. If the funds of the charity appear to be inadequate at any stage, the Trustees will seek to develop plans for raising monies through other fund-raising activities like sponsorship events etc.

Page 3

THE MARCHUS TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

c. Investment policy and performance

The Trustees invest surplus funds in market investments to gain a rate of return to maximise the charity’s objectives. Investments are closely monitored by the Trustees and management of investment funds is delegated to an external, reputable fund provider.

Financial review

a. Reserves policy

The Trustees have established a policy where unrestricted funds are not committed to any other purpose than the working capital of the charity and to the charity’s objectives and policies.

At the period end the charity had unrestricted funds of £13,448,747.

b. Principal funding

Principal funding sources are in the form of voluntary donations.

Plans for the future

a. Future developments

The charity plans to continue the activities and objectives outlined above in the forthcoming years subject to satisfactory funding requirements.

Trustees' responsibilities statement

The Trustees are responsible for preparing the Trustees' 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 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:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

THE MARCHUS TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

This report was approved by the Trustees, on }.OV2b, and signed on their behalf by:

Mr Spencer de Grey, Trustee

Page 5

THE MARCHUS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MARCHUS TRUST

Opinion

We have audited the financial statements of The Marchus Trust (the 'charity') for the year ended 31 March 2025 set out on pages 10 to 22, which comprises the Statement of financial activities, Balance sheet and the related notes including a summary of significiant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Page 6

THE MARCHUS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MARCHUS TRUST

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 7

THE MARCHUS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MARCHUS TRUST

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relavant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• We identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the relevant sector;

• We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the company;

• We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and

• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement inthe financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from theevents and transactions reflected in the financial statements, as we will be less likelyto become aware of instances of non-compliance. The risk is alsogreater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission ormisrepresentation.

Page 8

THE MARCHUS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MARCHUS TRUST

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Barnes Roffe Audit Limited

Chartered Accountants Leytonstone House Leytonstone London E11 1GA Date: 19-01-2026

Barnes Roffe Audit Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 9

THE MARCHUS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
Note
2025
£
INCOME FROM:
Donations and legacies
2
296,105
Investments
4
415,131
TOTAL INCOME
711,236
EXPENDITURE ON:
Charitable activities
609,955
TOTAL EXPENDITURE
7
609,955
NET INCOME BEFORE INVESTMENT GAINS/(LOSSES)
101,281
Net gains/(losses) on investments
(72,973)
NET INCOME BEFORE OTHER RECOGNISED GAINS AND
LOSSES
28,308
NET MOVEMENT IN FUNDS
28,308
RECONCILIATION OF FUNDS:
Total funds brought forward
13,420,439
TOTAL FUNDS CARRIED FORWARD
13,448,747		 Total
funds
2025
£
296,105
415,131
711,236
609,955
609,955
101,281
(72,973)
28,308
28,308
13,420,439
13,448,747		 Total
funds
2024
£
762,144
313,206
1,075,350
593,614
593,614
481,736
1,171,923
1,653,659
1,653,659
11,766,780
13,420,439

The notes on pages 12 to 22 form part of these financial statements.

Page 10

THE MARCHUS TRUST

BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £ £ £
FIXED ASSETS
Investments 12 13,267,294 13,020,863
CURRENT ASSETS
Debtors 13 31,856 16,007
Cash at bank and in hand 182,597 391,669
214,453 407,676
CREDITORS:amounts falling due within
one year 11 (33,000) (8,100)
NET CURRENT ASSETS 181,453 399,576
NET ASSETS 13,448,747 13,420,439
CHARITY FUNDS
Unrestricted funds 14 13,448,747 13,420,439
TOTAL FUNDS 13,448,747 13,420,439

The financial statements were approved by the Trustees on

and signed on their behalf, by:

Mr Spencer de Grey, Trustee

The notes on pages 12 to 22 form part of these financial statements.

Page 11

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. 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 (FRS 102) effective from January 2019 and Charities Act 2011.

The Marchus Trust constitutes a public benefit entity as defined by FRS 102.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

1.4 Investments

Investments are stated at market value at the balance sheet date. The Statement of financial activities includes the net gains and losses on revaluations and disposals throughout the year.

Page 12

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES (continued)

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Debtors

Short-term debtors are measured at transaction price, less any impairment.

1.7 Cash at Bank and in hand

Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. A cash equivalent will normally have a short maturity of, say, three months or less from the date of acquisition.

Cash held for investment purposes will be treated as an investment.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.9 Fund accounting

General funds are unrestricted 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.

1.10 Realised gains 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 sales proceeds and open market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.

1.11 Non-recoverable VAT

Non-recoverable VAT is charged against the category of resources expended for which it was incurred.

Page 13

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. INCOME FROM DONATIONS AND LEGACIES

INCOME FROM DONATIONS AND LEGACIES
Unrestricted
funds
2025
£
Donations
296,105
Total 2024
762,144		 Total
funds
2025
£
296,105
762,144		 Total
funds
2024
£
762,144

3. EMPLOYEES

The average number of employees, including trustees, during the period was 3 (2024 - 3) . The Trustees received remuneration of £Nil (2024 - £Nil) .

4. INVESTMENT INCOME

Unrestricted
funds
2025
£
Income from listed investments and interest received
415,131
415,131
Total 2024
313,206		 Total
funds
2025
£
415,131
415,131
313,206		 Total
funds
2024
£
313,206
313,206

Page 14

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. RESOURCES EXPENDED - CHARITABLE ACTIVITIES

Total Total
Number 2025 Number 2024
£ £
Grants made 108 472,953 124 511,347

Page 15

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

The above grants were to:

Page 16

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page 17

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. GOVERNANCE COSTS

Unrestricted
funds
2025
£
Auditor's remuneration
5,400
Accountancy
4,300
Investment managers' fees
111,366
Legal and professional fees
15,936
137,002		 Total
funds
2025
£
5,400
4,300
111,366
15,936
137,002		 Total
funds
2024
£
5,400
9,960
53,707
13,200
82,267

Governance costs include non-recoverable VAT where applicable.

7. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Grants made
Expenditure on governance
Total 2024		 Total
2025
£
472,953
137,002
609,955
593,614		 Total
2025
£
472,953
137,002
609,955
593,614		 Total
2024
£
511,347
82,267
593,614

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Grants made
Governance
costs
2025
£
2025
£
Grants made
472,953
137,002
Total 2024
511,347
82,267		 Total
2025
£
609,955
593,614		 Total
2024
£
593,614

9. NET INCOMING RESOURCES

This is stated after charging:

Auditor's remuneration

2025 2024
£ £
5,400 5,400

Page 18

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. AUDITOR'S REMUNERATION

The Auditor's remuneration amounts to an an Audit fee of £5,400 (2024 - £5,400) , and other services of £4,300 ( 2024 - £9,960) .

11. CREDITORS: Amounts falling due within one year

Accruals
12.
FIXED ASSET INVESTMENTS
Market value
At 1 April 2024
Movement on final valuation
At 31 March 2025		 2025
£
33,000		 2024
£
8,100		 2024
£
8,100
Investments
£
13,020,863
246,431
13,267,294
13,267,294

Included within the £246,431 ( 2024 - £1,430,190 ) movement on final valuation above is investment income of £413,771 ( 2024 - £ 311,975), less investment managers’ fees of £94,367 ( 2024 - £ 53,707) and £72,973 net loss ( 2024 - £1,171,923 net gain) on market value. There were net purchases in the investment portfolio of £Nil ( 2024 - £Nil) .

Investments at market value comprise:

Investments at market value comprise:
2025 2024
£ £
Investments in equities and funds 13,267,294 13,020,863

Page 19

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. FIXED ASSET INVESTMENTS (continued)

Material investments

The overall composition of the investment portfolio is held 33.01% (2024 - 44.88%) in UK equities and funds and 65.57% (2024 - 52.09%) in overseas equities and funds. The remaining 1.42% (2024 - 3.03%) is held in cash and deposits and other investments.

The Trustees regard any investment representing more than 5% of the total market value of the investment portfolio as at 31 March 2025 as material. These investments are as follows:


UK Gilts 1 - 10 Years UCITS ETF CMN Class ETF
Brown Advisory Global Leaders Fund Class SI USD
ISHARES IV PLC - I SHARES MSCI W SRI UCITS ETF CMN
CLASS ETF
Coutts Actively Managed US Equity Fund
Coutts North America ESG Insights Equity Fund
Material prior year investments not held at 31 March 2025
Other listed investments not individually material		 31 March

2025
£
2,552,288
721,751
865,986
721,278
1,026,632
-
7,379,359
13,267,294		 31 March
2024
£
-
-
-
759,114
-
8,080,781
4,180,968
13,020,863

Included within the portfolio of fixed asset investments of £13,267,294 (2024 - £13,020,863) is cash held by the investment managers of £144,484 (2024 - £391,350) .

13. DEBTORS

DEBTORS
2025 2024
£ £
Other debtors 31,856 16,007

Page 20

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at 1
April 2024
£
Unrestricted funds
General Funds - all funds
13,420,439
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
1 April 2023
£
General Funds - all funds
11,766,780
Total of funds
11,766,780		 Income
£
711,236
Income
£
1,075,350
1,075,350		 Expenditure
£
(609,955)
Expenditure
£
(593,614)
(593,614)		 Gains/
(Losses)
Balance at
31 March
2025
£
£
(72,973)
13,448,747
Gains/
(Losses)
Balance at 31
March 2024
£
£
1,171,923
13,420,439
1,171,923
13,420,439

SUMMARY OF FUNDS - CURRENT YEAR

Balance at 1
April 2024
£
General funds
13,420,439
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
1 April 2023
£
General funds
11,766,780		 Income
Expenditure
£
£
711,236
(609,955)
Income
Expenditure
£
£
1,075,350
(593,614)		 Gains/
(Losses)
Balance at
31 March
2025
£
£
(72,973)
13,448,747
Gains/
(Losses)
Balance at 31
March 2024
£
£
1,171,923
13,420,439

Page 21

THE MARCHUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Fixed asset investments
Current assets
Creditors due within one year
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Fixed asset investments
Current assets
Creditors due within one year		 Unrestricted
funds
2025
£
13,267,294
214,453
(33,000)
13,448,747
Unrestricted
funds
2024
£
13,020,863
407,676
(8,100)
13,420,439		 Total
funds
2025
£
13,267,294
214,453
(33,000)
13,448,747
Total
funds
2024
£
13,020,863
407,676
(8,100)
13,420,439

16. RELATED PARTY TRANSACTIONS

In the year Mr Spencer de Grey, a Trustee of the charity, donated £296,105 (2024 - £762,144) to the charity.

Included within other debtors is an amount of £Nil ( 2024 - £ 6,822) owed to the Charity by Mr Spencer de Grey.

During the year no Trustees received any remuneration, benefits in kind or were reimbursed any expenses.

17. TAXATION

As a charity, The Marchus Trust is generally exempt from tax on income and gains.

Page 22