Charity Registra�on No. 1156928
## **THE WHEELER FAMILY CHARITABLE TRUST**
**REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
## **THE WHEELER FAMILY CHARITABLE TRUST**
LEGAL AND ADMINISTRATIVE INFORMATION
|**Trustees**|Mr N C T Wheeler|
|---|---|
||Mrs B C Wheeler|
|**Charity number**|1156928|
|**Principal address**|c/o Charles Tyrwhi�|
||5thFloor The Forge|
||105 Sumner Street|
||London|
||SE1 9HZ|
|**Independent examiner**|Price Bailey LLP|
||3rdFloor|
||24 Old Bond Street|
||London|
||W1S 4AP|
|**Bankers**|Ci�Bank|
||Canada Square|
||Canary Wharf|
||London|
||E14 5LB|
__________________________________________________________________________________
## **THE WHEELER FAMILY CHARITABLE TRUST**
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
The trustees present their report and financial statements for the year ended 30 June 2025.
The financial statements have been prepared in accordance with the accoun�ng policies set out in note 1 to the financial statements and comply with the charity’s trust deed, the Chari�es Act 2011 and Accoun�ng and the Chari�es Statement of Recommended Prac�ce (second edi�on) and the Financial Repor�ng Standard FRS 102.
## **Objec�ves and ac�vi�es**
The trustees confirm that they have complied with the duty in Sec�on 17 of the Chari�es Act 2011 to have due regard to the Charity’s Commission general guidance on public benefit, “Chari�es and
The objec�ves of the trust are the advancement of educa�on for the public benefit by the provision of grants, dona�ons, scholarships and by such means as the trustees may determine to assist in the provision of and access to prac�cal, voca�onal and academic educa�on.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what ac�vi�es the charity should undertake.
## **Grant making policy**
Grants and dona�ons are awarded only in accordance with the objec�ves of the trust and are disclosed in note 6. All grants and dona�ons are made to ins�tu�ons delivering public benefit through the advancement of educa�on.
## **Achievements and performance**
A number of charitable grants and dona�ons were made in the year, totalling £108,010 (2024: £1,025,000) and these are shown in note 6 to the financial statements.
The statement of financial ac�vi�es shows net incoming resources of £344,099 (2024: net outgoing resources of £917,420). The trustees received no remunera�on or expenses whilst ac�ng in their capacity as trustees or otherwise.
## **Financial review**
At 30 June 2025, the market value of the trust’s investment por�olio was £171,652 (2024: £478,468) and during the year the trust received £1,078 (2024: £1,667) of dividends and interest. The trust also received dona�ons of £450,000 (2024: £10,000) during the year.
Total expenditure in the year was £112,019 (2024: £1,032,461). This amount includes £108,010 (2024: £1,025,000) expenditure on charitable ac�vi�es, £3,600 (2024: £4,320) expenditure on independent examiner’s fees and investment management fees paid of £409 (2024: £3,141).
__________________________________________________________________________________
1
## **THE WHEELER FAMILY CHARITABLE TRUST**
TRUSTEES’ REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **Reserves policy**
The whole of the charity’s unrestricted funds (its reserves) are available to meet its charitable objec�ves and no par�cular level of reserves is maintained. Unrestricted funds are general funds that are available for use at the discre�on of the trustees.
The trustees consider the current level of reserves to be adequate to enable the charity to con�nue to fulfil its objec�ves. In accordance with the requirements of the Statement of Recommended Prac�ce, “Accoun�ng by Chari�es”, the trust’s investments are included in the accounts at market value.
The balance held as unrestricted funds at 30 June 2025 was £18,192 (2024: (£326,099)). The trustees are sa�sfied that this support ensures that the charity will have sufficient reserves to cover its future commitments
## **Investment powers**
The trustees have absolute discre�on to invest the assets of the trust as they think fit, and to appoint an investment manager to manage the investments of the trust.
## **Investment policy**
The trust seeks to produce the best financial return with an acceptable level of risk.
The trust’s investment por�olio is managed with the dual objec�ve of genera�ng both capital growth and income. The investment objec�ve is to generate a return of infla�on plus 4% per annum over the long term, a�er expenses. The trustees review the investment performance annually and determine the propor�on of the investments to be allocated towards grant-making ac�vi�es, in accordance with the trust’s charitable aims.
The trustees wish to keep at least 70% of the assets in investments that can be realised within three months. A minimum of 2% of total assets should be kept in cash or near cash investments at all �mes.
## **Ethical restric�ons**
The trust’s assets should be invested in line with its aims. The trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the trust’s purpose.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed, and are sa�sfied that systems are in place to mi�gate exposure to the major risks. The trustees consider the principal risk to be the performance of investments, however the return on investments is not considered crucial to the trust and is mi�gated by the use of expert investment managers and having a diversified investment por�olio.
__________________________________________________________________________________
2
## **THE WHEELER FAMILY CHARITABLE TRUST**
## TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
## **Strncture, governance and manage1nent**
The trust is constitut d as a Charitable Trust and under the Charitable Trust Deed dated 29 April 2014. The trust is a registered charity (registratio number 1156928) and is unincorporated. The principal address of the charity is c/o Charles Tyrwhitt, 5 **[th ]** Floor The Forge, 105 Sumner Street, London SE1 9HZ.
The trustees who served during the vear were:
Mr NC T Wheeler Mrs B C Wheeler
## **Method of election of trustees**
Any trustee is able to nominate a person to stand as a trustee and they are elected by consent of all trustees by a resolution of the trustees passed at a special meeting.
## **Key management personnel remuneration**
The trustees consider the board of trustees as comprising the key management personnel of the charity m charge of directlng and controlling the charity and running and operating the charity on a day to day basis All trustees give their time freely and no trustee remuneration was paid during t, e year. Details of related party transactions are disclosed in note 14 to the financial statements.
The trustees· report was approved by the Board of Trustees.
Mr N CT Wheeler Trustee
Mrs BC Wheeler Trustee
Dated: . 20 April 2026 ....... **.** . ..... ..
Dated: .. 20 April 2026 ..... .
3
## **THE WHEELER FAMILY CHARITABLE TRUST**
STATEMENT OF TRUSTEE’S RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).
The law applicable to chari�es in England and 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 applica�on of resources of the charity for that year.
In preparing these financials statements, the trustees are required to:
- select suitable accoun�ng policies and then apply them consistently;
- observe the methods and principles in the Chari�es SORP;
- make judgements and es�mates that are reasonable and prudent;
- state whether applicable accoun�ng standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will con�nue in opera�on.
The trustees are responsible for keeping sufficient accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the charity and enable them to ensure that the financial statements comply with the Chari�es Act 2011, the Charity (Accounts and Repor�ng) Regula�ons 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 preven�on and detec�on of fraud and other irregulari�es.
__________________________________________________________________________________
4
## **THE WHEELER FAMILY CHARITABLE TRUST**
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WHEELER FAMILY CHARITABLE TRUST
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
I report to the charity trustees on my examina�on of the accounts of the charity for the year ended 30 June 2025 which are set out on pages 6 to 13.
## **Responsibili�es and basis of report**
As the charity’s trustees you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 (‘the Act’).
I report in respect of my examina�on of the charity’s accounts carried out under sec�on 145 of the Act and in carrying out my examina�on I have followed all the applicable Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in sec�on 145 of the 2011 Act. I confirm that I am qualified to undertake the examina�on because I am a member of The Ins�tute of Chartered Accountants of England and Wales (ICAEW), which is one of the listed bodies
I have completed my examina�on. I confirm that no material ma�ers have come to my a�en�on in connec�on with the examina�on giving me cause to believe that in any material respect:
1. accoun�ng records were not kept in respect of the charity as required by sec�on 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Chari�es (Accounts and Reports) Regula�on 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a ma�er considered as part of an independent examina�on.
I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael Cooper-Davis FCCA ACA For and behalf of Price Bailey LLP 3[rd] Floor 24 Old Bond St London W1S 4AP Date: 27 April 2026
__________________________________________________________________________________
5
## **THE WHEELER FAMILY CHARITABLE TRUST**
## STATEMENT OF FINANCIAL ACTIVITIES
## INCLUDING INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
|Notes
**Income from:**
Dona�ons and legacies
2
Investment income
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable ac�vi�es
5
**Total resources expended**
Net gains on investments
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**Total**
**unrestricted**
**funds**
**2025**
£
450,000
1,078
____________________
451,078
____________________
409
111,610
____________________
112,019
____________________
5,232
____________________
344,291
(326,099)
____________________
18,192
____________________|**Total**
**unrestricted**
**funds**
**2024**
£
10,000
1,667
____________________
11,667
____________________
3,141
1,029,320
____________________
1,032,461
____________________
103,374
____________________
(917,420)
591,321
____________________
(326,099)
____________________|
|---|---|---|
The statement of financial ac�vi�es includes all gains and losses recognised in the year.
All income and expenditure derive from con�nuing ac�vi�es.
__________________________________________________________________________________
6
Charity Registration No. 1156928
## **THE WHEELER FAMllV CHARITABl.E TRUST**
## BALANCE SH .ET
F R THE YEAR ENDED 30 JUNE 2025
|RTHEYEAR ENDED30JUNE|2025|||||
|---|---|---|---|---|---|
|||||----||
||||Total||Total|
||||unrestricted||unrestricted|
||||funds||funds|
||||**2025**||**2024**|
||Notes|f|f|_f'_|f|
|Fixed asset||||||
|Investments|10||171,652||478,947|
|Current as**_et.-_**||||||
|Cashabankanin han||4,460||74||
|Debtors|11|450,000||||
|||454,460||74||
|C editors: amounts falling due||||||
|within one year|12|(207,920)||(205,120)||
|||---||--||
|Net current assets|||246,540||(205,046)|
||||||---|
|**Creditors:**amounts falling due||||||
|**aifter more than one year**|13||(400,000)||(600,000)|
|**et assets**|||18,192||(326,099)|
|**!ncome funds**||||||
|Unrestricted fur.ds|111
-"T||18,192||(326,099,|
||||18,192||(325,099)|
The financial sta!ements were approved by the Trustees on
## 20 April 2026
Mr N CT Wheeler Trustee
Mrs BC Wheeler Trustee
7
**THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
## **1. Accoun�ng policies**
## **Charity informa�on**
The full name of the charity is The Wheeler Family Charitable Trust and its principal opera�ng address is c/o Charles Tyrwhi�, 5[th] Floor The Forge, 105 Sumner Street, London SE1 9HZ.
## **Accoun�ng conven�on**
The financial statements have been prepared under the historical cost conven�on with items recognised at cost of transac�on value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the second edi�on of the Chari�es Statement of Recommended Prac�ce issued in October 2019, the Financial Repor�ng Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Chari�es Act 2011.
The financial statements are prepared in sterling, which is the func�onal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trust cons�tutes a public benefit en�ty as defined by FRS 102.
## **Going concern**
The trustees have undertaken a detailed review of the charity’s financial performance and posi�on, taking into account current economic condi�ons and the charity’s cash flow forecasts. As part of this assessment, Bec�n Limited has confirmed its ongoing financial support, and the dona�on of £450,000 recognised in the year ended 30 June 2025 was received by the charity in February 2026.
Based on this review, the trustees have a reasonable expecta�on that the charity has sufficient resources to con�nue in opera�onal existence for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the trustees consider it appropriate to adopt the going concern basis in preparing the financial statements.
## **Charitable funds**
Unrestricted funds are available for use at the discre�on of the trustees in furtherance of their charitable objec�ves unless the funds have been designated for other purposes.
## **Incoming resources**
All income is recognised once the charity has en�tlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following specific policies are applied to par�cular categories of income:
Dona�ons are only included in the SoFA when the charity has uncondi�onal en�tlement to the income.
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8
**THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **1. Accoun�ng policies (con�nued)**
Income tax recoverable in rela�on to dona�ons received under Gi� Aid or deeds of covenant is recognised at the �me of the dona�on.
Investment income is included in the accounts when receivable.
Investment gains and losses include any gain or loss on the sale of investment and any gain or loss resul�ng from revaluing investments to market value at the end of the year.
## **Resources expended**
Expenditure is included on an accruals basis and is shown gross of VAT which is not recoverable. Liabili�es are recognised as expenditure as soon as there is a legal or construc�ve obliga�on commi�ng the charity to that expenditure, it is probable that se�lement will be required and the amount of the obliga�on can be measured reliably.
Costs of genera�ng funds are those in rela�on to the management of the investment por�olio.
Costs of charitable ac�vi�es include grants, dona�ons and scholarships paid in accordance with the objects of the trust. Grants are included in the year in which they are approved by the trustees and communicated to the recipient.
Governance costs include those incurred in the governance of the trust and are primarily associated with statutory requirements.
The charity had no employees in this year, and no emoluments or expenses were paid to the trustees.
## **Taxa�on**
As a registered charity, The Wheeler Family Charitable Trust is exempt from the payment of income and capital gains tax in respect of its charitable ac�vi�es.
## **Fixed asset investments**
Fixed asset investments are ini�ally measured at transac�on price excluding transac�on costs, and are subsequently measures at fair value at each repor�ng date. Changes in fair value are recognised in net income/(expenditure) for the year. Transac�on costs are expensed as incurred.
## **Cash flow exemp�on**
The charity has taken the exemp�on under sec�on 7 of FRS 102, permi�ed by the Chari�es SORP, to not prepare a cash flow as the charity is considered a small en�ty.
__________________________________________________________________________________
9
## **THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **2. Dona�ons and legacies**
|Dona�ons and gi�s
**3. Investment income**
Dividend income from investments
Bank interest receivable
**4. Raising funds**
Investment management fees
**5. Charitable ac�vi�es**
Grant funding of ac�vi�es (see note 6)
Governance costs (see note 7)|**2025**
£
450,000
_______________
450,000
_______________
**2025**
£
732
346
_______________
1,078
_______________
**2025**
£
409
_______________
409
_______________
**2025**
£
108,010
3,600
_______________
111,610
_______________|**2024**
£
10,000
_______________|
|---|---|---|
|||10,000
|
|||_______________
**2024**
£
1,588
79
_______________|
|||1,667
|
|||_______________
**2024**
£
3,141
_______________|
|||3,141
|
|||_______________
**2024**
£
1,025,000
4,320
_______________|
|||
1,029,320
_______________|
__________________________________________________________________________________
10
## **THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **6. Grants payable**
|Grants to ins�tu�ons:
Wellington College
Mus�que Educa�onal Trust
Prince’s Trust
Conserva�on Collec�ve
**7. Governance costs**
Independent examiner’s fees|**2025**
£
100,000
8,010
-
-
_______________
108,010
_______________
**2025**
£
3,600
_______________
3,600
_______________|**2024**
£
-
-
1,000,000
25,000
_______________|
|---|---|---|
|||1,025,000
|
|||_______________
**2024**
£
4,320
_______________|
|||
4,320
_______________|
## **8. Trustees**
None of the trustees (or any person connected to them) received any remunera�on, benefits or reimbursed expenses from the charity during the year.
## **9. Employees**
There were no employees during the year.
__________________________________________________________________________________
11
## **THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **10. Fixed asset investments**
|**Movement in fxed asset investments**
Market value brought forward
Addi�ons to investments at cost
Net gains/(losses) on revalua�on
Accumula�on dividends
Disposals at carrying value
Cash held within investment por�olio
Market value carried forward
Historical cost|**2025**
£
478,468
401,607
(7,576)
-
(700,847)
_______________
171,652
-
_______________
171,652
_______________
179,229
_______________|**2024**
£
590,151
-
78,016
465
(190,164)
_______________|
|---|---|---|
|||478,468
479
_______________|
|||
478,947
|
|||_______________
229,660
_______________|
All investments are carried at their fair value. Investments in equi�es and fixed interest securi�es are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds are at the bid price. Asset sales and purchases are recognised at the date of the trade at cost.
## **11. Debtors**
|**11. Debtors**|||
|---|---|---|
|Accrued income
**12. Creditors: amounts falling due within one year**|**2025**
£
450,000
_______________
450,000
_______________|**2024**
£
-
_______________|
|||-
|
|||_______________|
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Accruals for grants payable
Other accruals|**2025**
£
200,000
7,920
_______________
207,920
_______________|**2024**
£
200,000
5,120
_______________|
|||205,120
_______________|
__________________________________________________________________________________
12
## **THE WHEELER FAMILY CHARITABLE TRUST**
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
___________________________________________________________________________
## **13. Creditors: amounts falling due a�er more than one year**
|Accruals for grants payable
**Analysis of charitable funds**
**Balance at**
**1 July 2024**
£
Unrestricted funds
(326,099)
_______________
**Balance at**
**1 July 2023**
£
Unrestricted funds
591,321
_______________|**2025**
**2024**
£
£
400,000
600,000
_______________
_______________
400,000
600,000
_______________
_______________
**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Revalua�ons,**
**gains and**
**losses**
**Balance at**
**30 June 2025**
£
£
£
£
451,078
(112,019)
5,232
18,192
_______________
_______________
_______________
_______________
**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Revalua�ons,**
**gains and**
**losses**
**Balance at**
**30 June 2024**
£
£
£
£
11,667
(1,032,461)
103,374
(326,099)
_______________
_______________
_______________
_______________|
|---|---|
## **14. Analysis of charitable funds**
## **15. Related party transac�ons**
The trustees all give freely their exper�se without any form of remunera�on or other benefit in kind.
During the year, dona�ons of £450,000 (2024: £Nil) were pledged by Bec�n Limited which is owned by Mr N C T Wheeler and Mrs B C Wheeler. At the year end £450,000 (2024: £Nil) was outstanding and including in accrued income.
The trustees believe there are no other related party transac�ons to disclose.
__________________________________________________________________________________
13