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2024-12-31-accounts

MONTIER CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

Registered Charity Number

1164268

MONTIER CHARITABLE TRUST

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

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CONTENTS
Reference and Administrative Details 1
Trustees' Report 2
Independent Examiner's Report 4
Statement Of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7
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MONTIER CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS

YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

1

MONTIER CHARITABLE TRUST TRUSTEES' REPORT

YEAR ENDED 31 DECEMBER 2024

OBJECTIVES AND ACTIVITIES

The Trust’s object is to make grants and donations to UK and international charities for charitable purposes that are for the public benefit.

The Trust’s objectives are achieved by charitable donations to help charities to obtain sufficient funding to carry out specific charitable projects or purposes, which benefit sections of the public both nationally and internationally.

The Trustees are particularly keen to support smaller charities which are not already well funded. The Trust generally provides grants of between £5,000 and £20,000, on a one-off basis or as a rolling annual grant of up to five years provided that acceptable feedback is obtained.

Public Benefit Statement

The Trustees consider that donations to other registered Charities are for the Public Benefit. The Trustees confirm that they have paid due regard to the Charity Commission guidance on Public Benefit during the period.

ACHIEVEMENTS AND PERFORMANCE

The charity awarded grants to 14 charities totalling £135,000 in 2024, as follows:

The Trust’s investment objective is to create income and capital gain and to make yearly donations up to an amount equivalent to 5% of the Trust’s total capital. Today the Trust’s assets are diversified through investment in mostly equities and retention of cash.

2

MONTIER CHARITABLE TRUST

TRUSTEES' REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW AND RESERVES POLICY

The Trustees do not have a policy to maintain any reserves, as the charity is purely grant-making and does not have any overheads. Furthermore, the aim is for the grants to be made largely out of capital gain and income.

PLANS FOR FUTURE PERIODS

The Trust plans to continue to optimise its capital gains and income growth and in the following year distribute approximately 5% of its total capital by way of grants and donations to other registered charities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Montier Charitable Trust is an unincorporated trust governed by a Trust Deed. It operates independently of any other charities.

Decisions are made by a majority of Trustees in attendance at a Trustees’ meeting, which occur two to three times a year. The charity is a family trust and recently constituted, so there are no plans to recruit new trustees. Each Trustee has been given a copy of the Charity Commission publication CC3 – ‘The Essential Trustee’.

The Trustees have evaluated the major risks to which the Trust is exposed. The Trustees consider that the most significant risk is a long-term underperformance of its investment portfolio which would impact the ability to make donations in the future.

Approved by the Trustees on 2 October 2025 and signed on their behalf by:

.............................

Ann Montier

Chair of Trustees

3

MONTIER CHARITABLE TRUST

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

YEAR ENDED 31 DECEMBER 2024

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024, which are set out on pages 5 to 10.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts 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 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 Charities (Accounts and Reports) Regulations 2008 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.

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.

......................................

Alex Stone FCCA

Edmund Carr LLP 146 New London Road Chelmsford CM2 0AW

6 October 2025

4

MONTIER CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

INCOME from:
Investment income
TOTAL INCOME
EXPENDITURE on:
Raising funds: investment manager fees
Charitable activities
2
TOTAL EXPENDITURE
Net expenditure before gains on investments
Net gains on investments
NET INCOME/NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 Total
Funds
2024
£
89,081
89,081
19,772
138,168
157,940
(68,859)
199,421
130,562
3,158,248
3,288,810		 Total
Funds
2023
£
85,724
85,724
19,441
118,078
137,519
(51,795)
128,516
76,721
3,081,527
3,158,248

The charity has no recognised gains or losses other than the results for the period as set out above.

All funds of the charity are unrestricted

The notes on pages 7 to 10 form part of these financial statements.

5

MONTIER CHARITABLE TRUST

BALANCE SHEET

AT 31 DECEMBER 2024

Note
FIXED ASSETS
Investments
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
9
CREDITORS: Amounts falling due
within one year
10
NET CURRENT ASSETS
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
TOTAL CHARITY FUNDS		 £
£
3,185,514
1,968
103,596
105,564
2,268
103,296
3,288,810
3,288,810
3,288,810
2024		 £
£
2,962,450
3,383
194,575
197,958
2,160
195,798
3,158,248
3,158,248
3,158,248
2023

The financial statements on pages 5 to 10 were approved by the trustees on 2 October 2025 and signed on their behalf by:

…....................................

Ann Montier

Chair of Trustees

The notes on pages 7 to 10 form part of these financial statements.

6

MONTIER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), 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 (Charities SORP FRS102) and the Charities Act 2011 and UK Generally Accepted Practice.

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 FRS102 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of preparation

Montier Charitable Trust is a charity and meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going Concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Income

Donations are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Gift aid from the donor is included in income when there is a valid declaration from the donor. Dividends and interest from investments is included in income when receivable.

Expenditure

All expenditure is accounted for on an accruals basis and includes VAT as the charity is not VAT registered. One-off grants and the first year of rolling grants are recognised as expenditure when the award has been communicated to the beneficiary. Future payments under rolling grants are disclosed as commitments in Note 12 but are not provided for as these payments are subject to review on a rolling basis. Governance costs are associated with the governance arrangements of the charity. Costs incurred in the management of investments are recognised as expenditure under Raising Funds.

Investments

Investments are stated at market value. Realised gains and losses on disposals and unrealised gains or losses when the investments are revalued at the period end are reflected in the Statement of Financial Activities.

Debtors and Creditors

Accrued income relates to dividends pending but not paid at the end of the period. Creditors are normally recognised at their settlement amount.

Fund accounting

All funds held by the charity are unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

7

MONTIER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024

2.
EXPENDITURE ON CHARITABLE ACTIVITIES
Charitable grants awarded (note 4)
Governance and support costs
3.
ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Independent examiner fee
Preparation of the financial statements
Fees payable to Independent Examiner
Bank fees
4.
GRANT MAKING
Analysis of grants by activity
Education and Sport
Humanitarian/Relief of Poverty
Medical Research
Mental Health
Prisoner Rehabilitation
Poverty and Homelessness		 2024
£
135,000
3,168
138,168
2024
£
710
1,558
2,268
900
3,168
2024
£
50,000
45,000
10,000
10,000
15,000
5,000
135,000		 2023
£
115,000
3,078
118,078
2023
£
680
1,480
2,160
918
3,078
2023
£
30,000
55,000
10,000
10,000
5,000
5,000
115,000

8

MONTIER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

5. TRUSTEES' REMUNERATION

None of the trustees or persons connected with them received any remuneration for their services.

None of the trustees were reimbursed expenses incurred when acting on behalf of the charity during the period.

6. TAXATION

As the Trust is a charity, it is therefore exempt from taxation - other than VAT, which is included in the relevant costs in the Statement of Financial Activities - to the extent that any income and gains are applied to its charitable objectives.

7.
INVESTMENTS
Listed Investments
2024
£
Market value as at 1 January 2024
2,962,450
Revaluation
223,064
Market value as at 31 December 2024
3,185,514

All investments are managed by Brewin and Dolphin.

Cash balances held by the investment manager are included in cash at bank.

8. DEBTORS

Accrued income
9.
CASH AT BANK AND IN HAND
Cash balances held by investment manager
Cash at bank		 2024
£
1,968
1,968
2024
£
18,163
85,433
103,596		 2023
£
3,383
3,383
2023
£
71,082
123,493
194,575

9

MONTIER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

10. CREDITORS: Amounts falling due within one year

Accruals 2024
£
2,268
2,268		 2023
£
2,160
2,160

11. RELATED PARTY TRANSACTIONS

There were no related party transactions in 2024 or 2023.

12. COMMITMENTS

At 31 December 2024 the total amount of other financial commitments not provided in the financial statements (for rolling grants subject to annual review) was £60,000, of which £40,000 were payable within one year.

10