REGISTERED COMPANY NUMBER: 08269877 (England and Wales) REGISTERED CHARITY NUMBER: 1150524
WILLIAM ROWAN HAMILTON TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
WILLIAM ROWAN HAMILTON TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
| Page | |
|---|---|
| Report of the Trustees | 3 |
| Report of the Independent Examiner | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 |
WILLIAM ROWAN HAMILTON TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
We have referred to the points contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Historically, the Trust's services provided have been principally in support of raising the educational attainment of children up to age eleven within the UK and to support the effectiveness and professional job satisfaction (and hence also retention) of primary teachers. However, following the transfer of operations to Oxford Brookes University, as described in the last two years’ trustee reports, the Trust is now focused on two strands: continuing to run the two Imagination Library projects, and supporting other charitable organisations by way of grants, particularly in the fields of education and Early Years.
Imagination Libraries
'Imagination Marlborough', a partnership with the Dollywood Foundation - a charity started and overseen by Dolly Parton - continued successfully. Within the designated area (a circle with a radius of five miles from Marlborough), any child under the age of five can be enrolled in the programme, such that they receive - without any charge - an age-appropriate book every month until they 'graduate' aged five. 215 children are currently enrolled in Imagination Marlborough, with a similar number of children having graduated. Another project was started in Dorset, 'Imagination Dorchester', and this has been enormously successful through the unpaid efforts of its project manager Hannah Marsh, with 760 under-five children registered at the time of writing.
Staffing
With the winding down of the Trust’s direct activities, no staff at all were employed by the Trust, the small amount of administration being handled by the Chair.
Donations
As reported above, apart from the two Imagination Library projects, the Trust seeks to achieve its charitable objectives by making donations.
The main donations during the year were a final donation, of £16,000, to Oxford Brookes University to help them complete aspects of the transfer of operations, and £10,563 (12,000 euros) to Trinity
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College Dublin to enable a continuation of the annual Hamilton Trust Summer Internship Programme in Mathematics.
In addition, there were a few other small donations made, as listed in the notes to these accounts, resulting in total donations in the year of £37,063.
STRATEGIC REPORT
Achievement and performance
Financial review
Figures for 2024/25 are not particularly comparable with those for 2023/24 due to the fact that the transfer of operations to Oxford Brookes University had been completed by 1[st] November 2023. Total expenditure for 2025 was £130,529, compared with £308,816 the previous year. This was principally made up of final publishing costs incurred - mainly on outsourcers - of material now held by Oxford Brookes, mostly on checking already written resources, making amendments where necessary so that they complied with copyright laws; the two Imagination Library projects; and donations totaling £37,063 (2024: £232,382). There was no income from donations by individual teachers as Friends of Hamilton this year, nor any royalty income; in 2024 these items had resulted in income of £309,006. Total income for 2025 was £49,615, all from investment income (2024: 45,433); total income for 2024 was £354,439. There was a net gain in income for the year of £41,288 (2024: £213,376) after contribution of £49,615 (2024: 45,433) from investment income, together with an investment gain of £122,202 (2024: 167,753).
Reserves policy
The trustees seek to have sufficient reserves so that there is negligible financial risk to the Trust's nearterm plans. Specifically, at the start of each financial year the assets held in bank deposits and highly liquid investments should be higher than the previous year's net expenditure and also higher than the forecast gross annual expenditure for the next year less 50% of the forecast income from investments, grants and other revenue. This threshold is again comfortably exceeded, even more so as there is no longer any programme of publishing and related expenditure.
The Trust has a healthy overall credit balance (taking into account the liquid investment assets) and the trustees take the view that it is prudent to retain substantial reserves so that the Trust can make significant expenditures if judged by the trustees to be in the interests of the Trust or in supporting its overall objectives.
It is, however, also the case that the trustees would not want to hold more funds than was considered prudent to ensure the maintenance of a broad programme of grant-making over the next years, and so the trustees will continue actively to review the Trust's Reserves policy.
Brewin Dolphin are appointed to manage all the Trust's assets (other than the Trust holding sufficient cash in bank accounts for working capital). A low-risk investment policy has been agreed with Brewin Dolphin.
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WILLIAM ROWAN HAMILTON TRUST
Future plans
Following the successful transfer of its operations to Oxford Brookes University, The Trust – by design – now has no employees and no office and the trustees do not plan to embark on any Trust-managed new educational project. It will though continue with the two Imagination Library initiatives in Dorchester and Marlborough. Looking to the future, the Trust intends to use its financial resources to make a number of donations – some of a relatively large size - to various charities over the next few years, above all in education and in the Early Years, selecting recipients who we believe can make significant positive changes from the grants we provide.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The William Rowan Hamilton Trust is a registered charity (number 115024) incorporated on 26 October 2012. The stated objects of the Trust are to apply the trust fund for charitable purposes, at the discretion of the trustees.
William Rowan Hamilton Trust's relatively few remaining operations are now managed by the Chair.
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WILLIAM ROWAN HAMILTON TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
08269877 (England and Wales)
Registered Charity number
1150524
Registered office
2 Portland Road Oxford OX2 7EY
Trustees
M R H J O'Regan KW Brooks G J McMillan E JS O'Regan
Independent Examiner
Sheila Parry FCCA SPX Oxford Ltd Peace House Paradise Street Oxford OX1 1LD
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WILLIAM ROWAN HAMILTON TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of William Rowan Hamilton Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
INDEPENDENT EXAMINERS
The Independent Examiner, Sheila Parry, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 17 June 2026 and signed on the board's behalf by:
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WILLIAM ROWAN HAMILTON TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF WILLIAM ROWAN HAMILTON TRUST
YEAR ENDED 31 OCTOBER 2025
I report on the accounts of the charity for the year ended 31 October 2025 which are set out on pages 10 to 16.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider than an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act:
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sheila Parry FCCA
Date: 29 June 2026
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WILLIAM ROWAN HAMILTON TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025
| Notes Income from: Donations and legacies 2 Charitable activities Investments 3 Other income 4 Total income Expenditure on: Raising funds 5 Charitable activities 6 Total expenditure Net gains / -losses on investments Net income / -expenditure Reconciliation of funds: Total funds brought forwards Total funds carried forward |
Unrestricted & Total 2025 £ - - 49,615 - 49,615 10,694 119,835 130,529 122,202 41,288 1,658,450 1,699,738 |
Unrestricted & Total 2024 £ 19,116 - 45,433 289,980 |
|---|---|---|
| 354,529 | ||
| 10,514 298,302 |
||
| 308,816 | ||
| 167,753 213,376 1,445,074 |
||
| 1,658,450 |
The notes form part of these financial statements
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WILLIAM ROWAN HAMILTON TRUST
BALANCE SHEET
FOR THE YEAR ENDED 31 OCTOBER 2025
REGISTERED COMPANY NUMBER 08269877
| Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS:Amounts falling due within one year 14 NET CURRENT ASSETS NET ASSETS FUNDS INCOME FUNDS Unrestricted Income funds 15 Restricted Income funds TOTAL INCOME FUNDS |
2025 £ £ - 1,579,107 1,579,107 2,160 119,665 121,825 - 1,194 120,631 1,699,738 1,699,738 - 1,699,738 |
2024 £ £ - 1,536,439 1,536,439 92 123,127 123,219 - 1,208 122,011 1,658,450 1,658,450 - 1,658,450 |
2024 £ £ - 1,536,439 1,536,439 92 123,127 123,219 - 1,208 122,011 1,658,450 1,658,450 - 1,658,450 |
|---|---|---|---|
| 1,536,439 122,011 |
|||
| 1,658,450 | |||
| 1,658,450 - |
|||
| 1,658,450 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 June 2026 and were signed on its behalf by:
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WILLIAM ROWAN HAMILTON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Motor vehicles - 25% on cost Computer equipment - 25% on cost
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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WILLIAM ROWAN HAMILTON TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025
2. DONATIONS AND LEGACIES
| Gift aid income Friends of Hamilton Trust |
Unrestricted & Total Funds 2025 £ - - - |
Unrestricted & Total Funds 2024 £ - 19,116 |
|---|---|---|
| 19,116 |
| 3. INVESTMENT INCOME Dividend income Deposit account interest 4. OTHER INCOME Profit on disposal of fixed assets 5. EXPENDITURE ON RAISING Portfolio management |
Unrestricted & Total Funds 2025 £ 45,655 3,960 49,615 Unrestricted & Total Funds 2025 £ - - FUNDS Unrestricted & Total Funds 2025 £ 10,694 |
Unrestricted & Total Funds 2024 £ 44,457 976 |
|---|---|---|
| 45,433 | ||
| Unrestricted & Total Funds 2024 £ 289,890 |
||
| 289,890 | ||
| Unrestricted & Total Funds 2024 £ 10,514 |
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WILLIAM ROWAN HAMILTON TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025
6. EXPENDITURE ON CHARITABLE ACTIVITIES
| Direct costs Grant funding of activities Support costs |
Unrestricted & Total Funds 2025 £ 81,578 37,063 1,194 119,835 |
Unrestricted & Total Funds 2024 £ 63,407 232,382 2,513 |
|---|---|---|
| 298,302 |
7. GRANTS PAYABLE
| Oxford Brookes University Trinity College Dublin - Hamilton Internships Peeple Summertown Arts Centre Marlborough Literature Festival St Andrews Parochial CCF (food bank) Cutteslowe Community Association Oxford Baby Bank Wessex Multi Academy Trust (music) Homeless People (Oxford) Marlborough Forest School Marlborough St Mary's Emmaus Oxford Total charitable activities |
Unrestricted & Total Funds 2025 £ 16,000 10,563 3,000 2,000 1,000 1,000 1,000 1,000 1,000 500 - - - 37,063 |
Unrestricted & Total Funds 2024 £ 160,000 20,882 10,000 - 500 - - - - - 40,000 500 500 |
|---|---|---|
| 232,382 |
8. NET INCOME / (EXPENDITURE)
Net income / (expenditure) is stated after charging / (crediting)
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Independent examiner's remuneration | 300 | 300 |
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WILLIAM ROWAN HAMILTON TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025
9. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 October 2025 (2024: £nil).
There were no trustees’ expenses paid for the year ended 31 October 2025 (2024: £nil).
10. STAFF COSTS
The average monthly number of employees during the year was nil (2024: 0)
No employees received emoluments in excess of £60,000.
11. TANGIBLE FIXED ASSETS
There were no tangible fixed assets.
12. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
Cost or valuation at 31 October 2025 is represented by:
| Market value At 1 Nov 2024 Additions Disposals Revaluations At 31 Oct 2025 Net book value At 31 Oct 2025 At 31 Oct 2024 |
Listed investments £ 1,536,439 209,604 - 289,139 122,202 1,579,106 1,579,106 1,536,439 |
|---|---|
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WILLIAM ROWAN HAMILTON TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Prepayments | 2025 £ 2,160 2,160 |
2024 £ 92 |
|---|---|---|
| 92 |
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals and deferred income | 2025 £ 1,194 1,194 |
2024 £ 1,208 |
|---|---|---|
| 1,208 |
15. MOVEMENT IN FUNDS
| General funds | Balance at 1 Nov 2024 £ 1,658,450 1,658,450 |
Incoming resources £ 49,615 49,615 |
Outgoing resources £ - 130,529 - 130,529 |
Gains and losses £ 122,202 122,202 |
Balance at 31 Oct 2025 £ 1,699,738 |
|---|---|---|---|---|---|
| 1,699,738 |
Comparatives for movement in funds
| General funds | Balance at 1 Nov 2023 £ 1,445,074 1,445,074 |
Incoming resources £ 354,439 354,439 |
Outgoing resources £ - 308,816 - 308,816 |
Gains and losses £ 167,753 167,753 |
Balance at 31 Oct 2024 £ 1,658,450 |
|---|---|---|---|---|---|
| 1,658,450 |
16. RELATED PARTY DISCLOSURES
During the year, there were no related party transactions.
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