## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
||**Page**|
|---|---|
|Trustees' Annual Report|1 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Schedule of Investments and Income|7 - 13|
|Notes to the Financial Statements|14 - 17|
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025**
The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
## **Objectives and activities**
The Trustees may pay or apply the unrestricted capital and income of the Charity to or for such charitable institutions or purposes as the Trustees in their absolute discretion think fit.
The Trustees carry out these objectives by regularly considering appeals from other charities and making policy and funding decisions.
## **Public Benefit**
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 and 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 donations policy for the year. The benefit that arises is the provision of funding to organisations that demonstrate charitable purpose.
## **Achievements and performance**
During the year the Trustees made grants totalling £20,000 [2024: £31,000] in furtherance of their objectives and continue to make grants to charitable organisations both on a one-off and recurring basis. The larger grants awarded during the year are stated in the notes to the financial statements.
The Trustees are pleased with the progress made in the financial year ended 5 April 2025 and look forward to expanding their work with many other charities in the years to come.
## **Financial review**
The Trustees received £10,252 in investment income in the current year [2024: £9,701] and the Trustees have achieved their intention of spending the income on charitable activities.
Net incoming resources for the year were £99,366 [2024: incoming £138,384]. In addition the Trust realised a gain on investments of £13,860 [2024: loss £14,717] and made an unrealised loss of £13,738 [2024: gain £86,014]. The net incoming movement on funds was £99,488 [2024: incoming £209,681].
## **Investment policy**
The Trustees have instructed the Investment Manager that the portfolio is to be invested to produce a suitable mixture of income in order that the level of grants may be maintained and capital growth to secure the future of the Charity over the coming years. The Trustees are confident that the future income stream is secure.
The investment policy is monitored by regular investment reports and meetings with the Investment Manager. A breakdown of the investments held during the financial year ended 5 April 2025 can be seen on page 7 - 13.
## **Risk Management**
The major risks to which the Charity is exposed have been identified and steps taken to mitigate those risks.
The main risk to the Charity concerns the investments held. The Trustees have mitigated this risk by engaging James Hambro & Partners LLP to manage the investments and monitor the portfolio and financial risks to the Charity. The Trustees regularly review the valuation of investments and the income stream generated.
The Trustees have satisfied themselves that the trust is a going concern and has adequate resources to continue in operational existence for the foreseeable future. The charitable activities are funded by the investment portfolio and although Covid-19 did have a negative impact on this, the portfolio has recovered with sufficient value to support continued grant making.
- 1 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025**
## **Reserves policy**
It is the intention of the Trustees to sustain the unrestricted funds at a level which will provide sufficient funds for the level of grants paid and to cover the Charity's management and administration costs.
At the Balance Sheet date the unrestricted reserves amounted to £940,994.
## **Future Plans**
The Trustees do not envisage any material change to the operation of the Charity in the long-term and the investments will continue to be managed on a similar basis as they are now. Notwithstanding this, the Trustees remain flexible in terms of the type of organisations they support.
## **Structure, governance and management**
The Trust has charitable status and was set up by Lady Marshall by Deed dated 27 February 2015.
The management of the Charity is vested in the Trustees and they actively review the perceived major risks which the Charity faces and the Trustees are satisfied that the systems are in place to mitigate those risks.
The Trustees have received appropriate briefing on their responsibilities under the law relating to charities and their duty to ensure that their charitable activities are for the public benefit. The appointment of new trustees is vested in the Settlor during their life. The selection of future trustees will have regard to the skills, knowledge and experience needed for the effective administration of the Charity. Induction and training for trustees is provided where relevant.
## **Reference and administrative information**
A registered charity, registered with the Charity Commissioners for England and Wales as number 1161169.
Principal Office: 4th Floor, 7 Swallow Street London W1B 4DE
The Trustees are Lady Marshall, Hon Joanna Birkett and John Naunton Davies.
Solicitors: Currey & Co LLP 33 Queen Anne Street London W1G 9HY
Independent Examiner: Harriet Sergeant Shaw Gibbs (Audit) Limited 25 St Thomas Street Winchester Hampshire SO23 9HJ
Banker: HSBC Bank Plc 8 Canada Square London E14 5HQ
Investment Manager: James Hambro & Partners LLP 45 Pall Mall London SW1Y 5JG
- 2 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025**
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the financial statements unless they are satisfied that they 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting 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 continue in business.
The Trustees are responsible for keeping adequate accounting records which 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 Charities (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.
30 Jan 2026
Approved by the Trustees on ______________________ and signed on their behalf by:
## **Hon Joanna Birkett**
Joanna Birkett
## **Trustee**
- 3 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025**
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 5 April 2025 which are set out on pages 5-17.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair view' which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Harriet Sergeant Shaw Gibbs (Audit) Limited 25 St Thomas Street Winchester Hampshire SO23 9HJ
> Date: 30/01/2026
- 4 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025**
|**2025**
**Note**
**Unrestricted**
**funds**
**£**
**Income from:**
Donations and legacies
**4**
119,509
Investments
**5**
10,252
**Total**
129,761
**Expenditure on:**
Raising funds
**6**
7,023
Charitable activities
**7**
23,372
**Total**
30,395
**Net income/(expenditure)**
99,366
**Other recognised gains/(losses):**
Gains/(losses) on investment assets
**11**
122
**Net movement in funds**
99,488
**Reconciliation of funds:**
Total funds brought forward
**14**
841,506
**Total funds carried forward**
940,994|**2025**
**2024**
**Total**
**Prior year**
**funds**
**total funds**
**£**
**£**
119,509
170,165
10,252
9,701
129,761
179,866
7,023
6,024
23,372
35,458
30,395
41,482
99,366
138,384
122
71,297
99,488
209,681
841,506
631,825
940,994
841,506|**2025**
**2024**
**Total**
**Prior year**
**funds**
**total funds**
**£**
**£**
119,509
170,165
10,252
9,701
129,761
179,866
7,023
6,024
23,372
35,458
30,395
41,482
99,366
138,384
122
71,297
99,488
209,681
841,506
631,825
940,994
841,506|
|---|---|---|
|||179,866|
|||6,024
35,458|
|||41,482|
|||138,384
71,297|
|||209,681
631,825|
|||841,506|
- 5 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2025**
|**Note**
**Fixed Assets:**
Investments
**11**
**Total Fixed Assets**
**Current Assets:**
Cash at bank
**12**
**Total Current Assets**
**Liabilities:**
Creditors: Amounts falling due within one year
**13**
**Net Current Assets or Liabilities**
**Total Net Assets or Liabilities**
**The Funds of the Charity:**
Unrestricted funds
**14**
**Total Charity Funds**|**2025**
**2024**
**Total**
**Prior year**
**funds**
**funds**
**£**
**£**
882,959
806,334
882,959
806,334
61,135
38,870
61,135
38,870
(3,100)
(3,698)
58,035
35,172
940,994
841,506
940,994
841,506
940,994
841,506|
|---|---|
30 Jan 2026 Approved by the Trustees on ______________________ and signed on their behalf by:
## **Hon Joanna Birkett**
Joanna Birkett
## **Trustee**
- 6 -
I 11 li Il
**THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Statutory Information**
The Colin and Janet Marshall Charitable Trust is a registered charity. The registered number and principal office address can be found in the Report of the Trustees'.
## **2 Accounting Policies**
## **a) Basis of financial statements preparation**
The financial statements of the charity, which is a public benefit entity, 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)', the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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 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) 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 removed.
The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
## **b) Nature of funds**
All funds held are unrestricted and the Trustees are free to use them in accordance with the charitable objects.
## **c) Fixed asset investments**
Investments are stated at market value at the Balance Sheet date. Overseas investments are translated into sterling at the rates ruling at the year end. The Statement of Financial Activities (SOFA) includes the net gains and losses on revaluation and disposals throughout the year.
## **d) Income**
Income is recognised in the SOFA once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **e) 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 costs related to that 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.
## **f) Charitable grants**
Grants payable are recognised in the SOFA when they are approved by the Trustees and the recipient has been informed of the amount to be paid.
- 14 -
**THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
(Continued)
## **g) Foreign currencies**
Transactions denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the date of the transaction. At the Balance Sheet date monetary assets and liabilities denominated in a foreign currency are translated at the rate ruling at that date. All exchange differences are dealt with in the SOFA.
## **h) Irrecoverable VAT**
Irrecoverable VAT is written off to the same expense category in which the actual expenditure was incurred.
## **3 Remuneration of Trustees**
In the financial year to 5 April 2025 the Trustees did not receive any remuneration or have their expenses reimbursed by the Charity.
|**4**
**Donations and legacies**
Gift of shares by Hon Joanna Birkett
**5**
**Investment income**
Income from investments
Gross bank interest
Foreign tax deducted at source
**6**
**Expenditure on raising funds**
Investment management fees
**7**
**Charitable activities**
**Direct costs**
**Support costs**
**(see note 8)**
**(see note 9)**
**£**
**£**
Charitable expenditure
20,000
3,372|**2025**
**£**
119,509
119,509
**2025**
**£**
9,761
950
(459)
10,252
**2025**
**£**
7,023
7,023
**2025**
**Total**
**£**
23,372|**2024**
**£**
170,165
170,165
**2024**
**£**
9,260
742
(301)
9,701
**2024**
**£**
6,024
6,024
**2024**
**Total**
**£**
35,458|
|---|---|---|
- 15 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
(Continued)
## **8 Direct costs**
The Charity undertook no direct charitable activities but awarded grants to a number of institutions in furtherance of its charitable objectives. These are as follows:
|Royal Institute Annual Fund
Royal Trinity Hospice
**Total for the year**
**Analysis of grants made**
**Grants to**
**Grants to**
**institutions**
**individuals**
**£**
**£**
Relief of those in need, by reason of youth, age, ill-health,
disability, financial hardship or other disadvantage
20,000
-
20,000
-
**9**
**Support costs**
**2025**
**£**
Millbank Financial Services fees
2,010
Currey & Co fees
-
Bank charges
60
Independent examination fees
1,200
Independent examination fees - prior year adjustment
102
3,372|**£**
10,000
10,000|
|---|---|
||20,000|
||**Total**
**£**
20,000|
||20,000|
||**2024**
**£**
1,158
1,200
60
1,020
1,020|
||4,458|
During the year administration expenses of £2,010 were charged by Millbank Finanacial Services Limited. The amount of £935 plus VAT was charged by Shaw Gibbs (Audit) Limited for the Independent Examination of these Financial Statements.
## **10 Staff costs**
There are no employees so consequently no staff costs have been incurred.
|**11**|**Fixed asset investments**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Market value brought forward|806,334|606,876|
||Additions|515,010|605,919|
||Less disposal proceeds|(438,507)|(476,880)|
||Net gains/(losses) on investments|122|71,297|
||Market value carried forward|882,959|806,334|
- 16 -
## **THE COLIN AND JANET MARSHALL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
(Continued)
|**11**
**Fixed asset investments (continued)**
**Geographical analysis**
United Kingdom investments
Overseas investments|**2025**
**£**
322,402
560,557
882,959|**2024**
**£**
215,071
591,263|
|---|---|---|
|||806,334|
The book value of the investments at 5 April 2025 was £754,090.
Net gains/(losses) on investments includes realised gains for the year of £13,860 [2024: loss £14,717] and unrealised losses on revaluation to market value of £13,738 [2024: gain £86,014].
|**12**
**Cash at bank**
Royal Bank of Scotland
Schroder & Co
**13**
**Creditors: Amounts falling due within one year**
Investment management fees
Independent examination fees
**14**
**Movement in funds**
Unrestricted funds:
Balance brought forward
Net movement in funds
Balance carried forward|**2025**
**£**
8,592
52,543
61,135
**2025**
**£**
1,900
1,200
3,100
**2025**
**£**
841,506
99,488
940,994|**2024**
**£**
13,947
24,923|
|---|---|---|
|||38,870|
|||**2024**
**£**
1,658
2,040|
|||3,698|
|||**2024**
**£**
631,825
209,681|
|||841,506|
Net movement in funds included in the above are as follows:
||||**Gains and**|**Movement**|
|---|---|---|---|---|
||**Income**|**Outgoings**|**losses**|**in funds**|
||**£**|**£**|**£**|**£**|
|Unrestricted Funds|129,761|(30,395)|122|99,488|
## **15 Related Party Transactions**
During the year the Hon Joanna Birkett, a trustee of the Colin and Janet Marshall Charitable Trust, made a gift of shares to the value of £119,509 to the Charitable Trust.
- 17 -
**Issuer** Shaw Gibbs **Document generated** Wed, 28th Jan 2026 10:51:05 GMT **Document fingerprint** 9eeec5bd1abecabf0629c9490842a463
## **Issuer**
## **Parties involved with this document**
**Document processed Party + Fingerprint** Fri, 30th Jan 2026 6:24:50 GMT The Honourable Joanna Birkett - Signer (fb94ee2a1c1d42f7e6edf7c880ab0ae9) Fri, 30th Jan 2026 6:24:50 GMT Sarah Cavanagh - Copied In (5474b41cc4ae6435651269e11860b08d) Fri, 30th Jan 2026 6:24:50 GMT Harriet Sergeant - Copied In (9f82153d06a40796d5fca3ce14b27a82) **Audit history log Date Action** Wed, 28th Jan 2026 10:51:06 GMT Envelope generated by Katie Sainsbury (87.127.99.202) Wed, 28th Jan 2026 10:51:06 GMT Document generated with fingerprint 9eeec5bd1abecabf0629c9490842a463 (87.127.99.202) Wed, 28th Jan 2026 10:51:06 GMT Document generated with fingerprint d60c6e28d266f9863799eb7b3741c6f0 (87.127.99.202) Wed, 28th Jan 2026 10:57:39 GMT Sent the envelope to The Honourable Joanna Birkett (anna@emailbirkett.com) for signing (87.127.99.202) Wed, 28th Jan 2026 10:57:40 GMT Document emailed to anna@emailbirkett.com Fri, 30th Jan 2026 6:23:16 GMT The Honourable Joanna Birkett viewed the envelope (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT The Honourable Joanna Birkett signed the envelope (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT Sent the envelope to Sarah Cavanagh (sarah.c@mfs.co.uk) for signing (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT Sent the envelope to Harriet Sergeant (harriets@martin-company.co.uk) for signing (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT This envelope has been signed by all parties (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT Signed document confirmation emailed to anna@emailbirkett.com (49.231.15.49) Fri, 30th Jan 2026 6:24:50 GMT Signed document confirmation emailed to sarah.c@mfs.co.uk (49.231.15.49)
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https://api.signable.app/shareable/envelope?t=43da5489-f3da-4348-aecb-9 1d36a90c3ae (49.231.15.49) Fri, 30th Jan 2026 6:24:52 GMT Document emailed to sarah.c@mfs.co.uk Fri, 30th Jan 2026 6:24:53 GMT Document emailed to harriets@martin-company.co.uk