Company registration number: 09088716 Charity registration number: 1162385
## The Propertymark Trust Ltd
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 June 2025
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
## **The Propertymark Trust Ltd**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 13|
## **The Propertymark Trust Ltd**
## **Reference and Administrative Details**
**Trustees** Michael Day Megan Eighteen Taj Gill David Mintz John Oakley Lauren Scott-Simpson Angharad Trueman **Charity Registration Number** 1162385 **Company Registration Number** 09088716 **Registered Office** 97 Heath Road Maidstone ME16 9JT **Independent Examiner** Eva Stevens, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
## **The Propertymark Trust Ltd**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 June 2025.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Michael Day Megan Eighteen Taj Gill (appointed 11 March 2025) David Mintz John Oakley Lauren Scott-Simpson Angharad Trueman Toby Martin (resigned 1 January 2026) Mary-Louise Press (resigned 1 January 2026)
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 16/06/2014 and most recently amended 01/04/2022. It has no share capital and the liability of each member in the event of winding-up is limited to £10.
## _**Recruitment and appointment of trustees**_
By application and personal interview.
## **Objectives and activities**
## _**Objects and aims**_
The prevention or relief of poverty of the beneficiaries and the advancement of education in any property profession including, in cases of hardship financial support to undertake courses to pay examination fees in each case for the public benefit.
## _**Objectives, strategies and activities**_
Providing hardship/educational grants to member, staff of members, families of members. Donations from letting agents, estate agents, conferences, public.
## _**Public benefit**_
Various grants have been and will continue to be made to people who are not members but are worthy of our support such as counselling, funeral costs, career assistance and support.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
## **The Propertymark Trust Ltd**
## **Trustees' Report**
## **Achievements and performance**
Increased our fundraising significantly especially via dormant funds which has enabled us to provide more hardship grants, improve our support for those wishing to progress their careers who do not have sufficient funds. Raise our profile to enable us to raise more funds and support more people.
## **Financial review**
The trustees are pleased with the financial position at the end of the financial period given a surplus of £95,426.
## _**Policy on reserves**_
There is currently no reserves policy.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 3
## **The Propertymark Trust Ltd**
## **Trustees' Report**
## **Statement of Responsibilities**
The trustees (who are also the directors of The Propertymark Trust Ltd for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 26 March 2026 and signed on its behalf by:
......................................... Lauren Scott-Simpson Trustee
Page 4
## **The Propertymark Trust Ltd**
## **Independent Examiner's Report to the trustees of The Propertymark Trust Ltd ('the Company')**
## **Independent examiner’s report to the trustees of The Propertymark Trust Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2025.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no 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 Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................
Eva Stevens, BSc, CPFA, employee of Community Accounting Plus member of the Chartered Institute of Public Finance and Accountancy (CIPFA)
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
26 March 2026
Page 5
## **The Propertymark Trust Ltd**
## **Statement of Financial Activities for the Year Ended 30 June 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
5
Total income
**Expenditure on:**
Charitable activities
6
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**£**
130,655
10,508
3,270
144,433
(49,007)
(49,007)
95,426
95,426
93,649
189,075|**Total**
**2025**
**£**
130,655
10,508
3,270
144,433
(49,007)
(49,007)
95,426
95,426
93,649
189,075|**Total**
**2024**
**£ (As restated)**
30,670
8
2,020|
|---|---|---|---|
||||32,698|
||||(36,698)|
||||(36,698)|
||||(4,000)|
||||(4,000)
97,649|
||||93,649|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
## **The Propertymark Trust Ltd**
## **(Registration number: 09088716) Balance Sheet as at 30 June 2025**
|**Note**
**Current assets**
Debtors
7
Cash at bank and in hand
8
**Creditors: Amounts falling due within one year**
9
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
10
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**|**2025**
**£**
49
302,396
302,445
(1,188)
301,257
(112,182)
189,075
189,075
189,075|**2024**
**£ (As restated)**
49
94,632|
|---|---|---|
|||94,681
-|
|||94,681
(1,032)|
|||93,649|
|||93,649|
|||93,649|
For the financial year ending 30 June 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 26 March 2026 and signed on their behalf by:
......................................... Taj Gill Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **1 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The Propertymark Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Exemption from preparing a cash flow statement**
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 8
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Page 9
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from companies, trusts and similar
proceeds
Donations from individuals
Gift aid reclaimed
**3**
**Income from charitable activities**
Ticket sales
Sundry receipts
**4**
**Grants & donations**
Agents Giving
Abib Office - Prop X
Billing Better Ltd - Prop X
Rent Guarantor Limited - Prop X
XPS Solutions Ltd - Prop X
Beresfords Letting - dormant client funds
NW Ltd - dormant client funds
Stella Lange LLP - dormant client funds
Trueman Letting Co - dormant client funds
Gift aid
Sundry donations|**Unrestricted**
**funds**
**General**
**£**
120,664
9,505
486
130,655
**Unrestricted**
**funds**
**General**
**£**
10,503
5
10,508|**Total**
**2025**
**£**
120,664
9,505
486
130,655
**Total**
**2025**
**£**
10,503
5
10,508
**Unrestricted**
**funds**
**£**
1,000
2,000
2,000
3,000
2,000
109,244
509
651
746
486
9,019
130,655|**Total**
**2024**
**£ (As restated)**
27,151
3,464
55|
|---|---|---|---|
||||30,670|
||||**Total**
**2024**
**£ (As restated)**
-
8|
||||8|
||||**Total**
**£**
1,000
2,000
2,000
3,000
2,000
109,244
509
651
746
486
9,019|
||||130,655|
Page 10
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **5 Investment income**
|Interest receivable and similar income;
Interest receivable on bank deposits
**6**
**Expenditure on charitable activities**
Advertising/promotional
Bank charges
Bookkeeping & accounting
Charitable activities
Conferences
Education grant
Grant
Hardship grant
Insurance
Office & general admin expenses
Other professional services
Prop X
Sponsorships
Subscriptions
Subsistence
Travel & accommodation
Webhosting/email
Sundry expenses
**7**
**Debtors**
Prepayments
**8**
**Cash and cash equivalents**
Cash at bank|**Unrestricted**
**funds**
**General**
**£**
3,270
**Unrestricted**
**funds**
**General**
**£**
996
177
1,288
-
1,415
3,290
-
16,580
376
17
40
13,362
-
311
265
6,095
4,795
-
49,007|**Total**
**2025**
**£**
3,270
**Total**
**2025**
**£**
996
177
1,288
-
1,415
3,290
-
16,580
376
17
40
13,362
-
311
265
6,095
4,795
-
49,007
**2025**
**£**
49
**2025**
**£**
302,396|**Total**
**2024**
**£ (As restated)**
2,020|
|---|---|---|---|
||||**Total**
**2024**
**£ (As restated)**
79
124
100
500
-
100
5,855
18,100
328
203
40
4,583
2,000
156
-
2,683
1,367
480|
||||36,698|
||||**2024**
**£ (As restated)**
49|
||||**2024**
**£ (As restated)**
94,632|
Page 11
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **9 Creditors: amounts falling due within one year**
|**9**
**Creditors: amounts falling due within one year**|||
|---|---|---|
|Accruals
**10 Creditors: amounts falling due after one year**
Deferred income|**2025**
**£**
1,188
**2025**
**£**
112,182|**2024**
**£**
-|
|||**2024**
**£ (As restated)**
1,032|
## **11 Charity status**
The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
## **12 Fees payable to independent examiner**
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
|Independent examination|**2025**
**£**
990|**2024**
**£**
-|
|---|---|---|
## **13 Taxation**
The charity is a registered charity and is therefore exempt from corporation taxation.
Page 12
## **The Propertymark Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2025**
## **14 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
## **David Votta**
£408 (2024: £1,138) of expenses were reimbursed to David Votta during the year.
## **John Oakley**
£325 (2024: £419) of expenses were reimbursed to John Oakley during the year.
## **Lauren Scott-Simpson**
£3,380 (2024: £1,127) of expenses were reimbursed to Lauren Scott-Simpson during the year.
## **Angharad Trueman**
£428 (2024: £Nil) of expenses were reimbursed to Angharad Trueman during the year.
## **David Mintz**
£628 (2024: £Nil) of expenses were reimbursed to David Mintz during the year.
## **Megan Eighteen**
£243 (2024: £Nil) of expenses were reimbursed to Megan Eighteen during the year.
## **Toby Martin**
£276 (2024: £Nil) of expenses were reimbursed to Toby Martin during the year.
## **15 Related party transactions**
There were no related party transactions in the year.
Page 13