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Charity registration number 1171890 (England and Wales)
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THE RICE-JONES CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
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THE RICE-JONES CHARITABLE TRUST
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LEGAL AND ADMINISTRATIVE INFORMATION
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| i | Trustees | MrSBarnett Mr P Haigh-Lumby MrA Fontes |
| ¥ | Charitynumber(EnglandandWales) | 1171890 |
| Principal address | C/o Michelmores LLP | |
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| Devon | ||
| EX2 5WR | ||
| Independent examiner | Mr J AE Welton BA (Hons) FCACTA |
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| Woodwater Park | ||
| : ra: |
Pynes Hill EX25WS |
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| al | Solicitors | MichelmoresLLP Woodwater House Pynes Hill |
| Exeter | ||
| cr) | Devon | |
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Exeter Devon |
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| - | EX11UG |
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THE RICE-JONES CHARITABLE TRUST
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CONTENTS
| Page | |
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| Trustees’report | 1-2 |
| Independentexaminer'sreport | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notestothefinancialstatements | 6-12 |
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ail THE RICE-JONES CHARITABLE TRUST
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[om Li Objectives and activities The trust’s original objectives, as stated in the Governing Document (trust deed), are the promotion of education for | the public benefit in such ways as the trustee decides from time to time including by: * Awarding scholarships, maintenance allowances and grants to support study at university, college or an institution of higher or further education by individuals as part of their vocational training to become a solicitor, barrister or 4 doctor; and * Funding education and training towards entry into the legal or medical profession on leaving any educational | establishment.Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the j trust should undertake. Achievements and performance It is the long-term strategy of the trustees to maintain an investment portfolio which generates income that can be i Significant activities and achievements against objectives distributed as grants, as well as provide capital growth. During the year, grants were made to three individuals totalling £10,050 (2024: no grants awarded). | il Financial review The investment portfolio has a valuation of £3,824,211 (2024: £205,626) and cash of £267,678 (2024: £3,245) Is l held in the capital account. This is after having paid the professional fees for the running of the Trust and portfolio.
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TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)”.
Reserves policy
The income for the trust is generated exclusively from their invested reserves. There is no specific level of reserves required, as there are no ongoing financial obligations for the trust except for small administrative expenditure. Any income generated from the investments will be used to fund future grants together with administrative expenditure.
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At present, there are no immediate plans to expand the scope of the charity's activities. That being said, when the Plans for future periods settlor originally set out her wishes in 2016, she did express that the charity could extend its objectives to also benefit those looking to pursue a career within the medical profession. In consideration of the recent growth in the size of the charity, the trustees have agreed that they will keep in consideration expanding its activities to also benefit those pursuing a career in the medical profession. In addition to this, the trustees have begun to consider extending the reach of the advertisement of the scholarship to a wider group of educational providers in the NorthWest of England.
& THE RICE-JONES CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED) | FOR THE YEAR ENDED 5 APRIL 2025 | c Structure, governance and management rm The trust is a registered charity and is constituted under a Trust Deed dated 06 May 2016. iT The trust was created in 2016 by an individual who wished to set up a charity to benefit aspiring and promising law | i. students who may not have sufficient financial means to undertake their studies. The Settlor's husband and father é were both lawyers and this is where her motivation came from to establish the charity. When creating the trust, the Settlor set out her wishes that the charity should specifically benefit post-graduate law students studying in the [nn expressedNorth-Westa ofwishEnglandthat thewhocharityshowcouldboth alsoacademicbenefitpromisethose pursuingand a commitmenta career withinto thethe medicallegal profession.professionSheif it alsohas . the means to do so. The trust does not actively fundraise and seeks to continue the charitable work through the careful stewardship of its existing resources.
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| Mr S Barnett [= The trustees who served during the year and up to the date of signature of the financial statements were: m Mr P Haigh-Lumby Mr A Fontes I Recruitment and appointment of trustees In accordance with the original Trust Deed dated 6 May 2016 and by a Deed of Amendment dated 7 December always be at least 3 trustees acting at any time except where there is a trust corporation acting as a trustee. In li] 2023selecting(whichindividuals was submittedfor appointmentto the Charityas trustees, Commissionthe andtrusteesapprovedmust haveby themregardon 21for Februarythe skills,2024)knowledge. there mustand experience needed for the effective administration of the trust. 4 / Other matters Policies = In September 2024 the trustees reviewed and implemented various policies which included conflicts of interest, iI codexp e nses.of conduct,All of theserisk management,policies are tosafeguarding,be reviewed seriousbi-annuallyincidenby t hereporting,trustees,internalwith thefinancialexceptioncontrolsof theandconflictstrusteeof interest policy which will be reviewed annually. In addition to this, the trustees annually review the investment risk a management with the investment portfolio manager. I ia The trustees’ report was approved by the Board of Trustees. ui i.fe TrusteeMr S Barnett TrusteeMr P Haigh-Lumby i Mr A Fontes 7 Trustee i 17 November 2025
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al THE RICE-JONES CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT il| TO THE TRUSTEES OF THE RICE-JONES CHARITABLE TRUST EY for| reportthe year to theended trustees 5 April on my2025. examination of the financial statements of The Rice-Jones Charitable Trust (the trust) 1 Responsibilities and basis of report As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. il Act| report2011. in respectIn carrying of myout examinationmy examination of the trust's| have financialfollowed statementsthe Directions carriedgiven out underby the sectionCharity 145Commission of the Charitiesunder section 145(5)(b) of the Charities Act 2011. il Independent examiner's statement Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS | relevant102) in preferenceversion oftothethe AccountingStatement ofandRecommendedReporting by Charities:Practice Statementapplicable oftoRecommendedcharities preparingPracticetheirissuedfinancialon 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. | understand that this has Accepted Accounting Practice. | been done in order for the financial statements to provide a true and fair view in accordance with UK Generally | have completed my examination. | 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 trust as required by section 130 of the Charities Act 2011. 2 _ the financial statements do not accord with those records; or financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any | 3. the financial statements do do not comply comply with the applicable requirements concerning the form form and content of requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. |, | have no concerns and and have come come across no other matters other matters matters in connection with the examination to which which attention
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| have completed my examination. | 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 trust as required by section 130 of the Charities Act 2011. 2 _ the financial statements do not accord with those records; or financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any 3. the financial statements do do not comply comply with the applicable requirements concerning the form form and content of requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. | have no concerns and and have come come across no other matters other matters matters in connection with the examination to which which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr J AE Welton BA (Hons) FCA CTA Simpkins Edwards LLP
The Summit
Woodwater Park Exeter | Pynes Hill EX2 SWS il 4 December 2025
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il THE RICE-JONES CHARITABLE TRUST
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STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2025
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|Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|funds|funds|funds|funds|
|2025|2025|2025|2024|2024|2024|
|Notes|£|£|£|£|£|£|
|Donations|and|legacies|3|-|19,292|19,292|10,000|4,100,708|4,110,708|
|Income from:|
|Investments|4|88,143|-|88,143|5,819|-|5,819|
|Total|income|and|
|endowments|88,143|19,292|107,435|15,819|4,100,708|4,116,527|
|Raising|funds|5|27,045|-|27,045|2,513|-|2,513|
|Expenditure|on:|
|Charitable|activities|6|27,458|-|27,458|8,919|-|8,919|
|Total|expenditure|54,503|-|54,503|11,432|-|11,432|
|investments|10|-|(206,835)|(206,835)|15,917|-|15,917|
|Net gains/(losses) on|
|Net income/(expenditure)|33,640|(187,543)|(153,903)|20,304|4,100,708|4,121,012|
|funds|(15,917)|15,917|-|-|-|-|
|Transfers between|
|Net|movement|in|
|fundsReconciliation|of|funds:|17,723|(171,626)|(153,903)|20,304|4,100,708|4,121,012|
|Fund|balances|at|6|April|2024|210,075|4,100,708|4,310,783|189,771|-|189,771|
|Fund balances|at 5 April 2025|227,798|3,929,082|4,156,880|210,075|4,100,708|4,310,783|
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE RICE-JONES CHARITABLE TRUST
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BALANCE SHEET
AS AT 5 APRIL 2025
| Notes | £ | 2025 | £ | £ | 2024 | £ | |
|---|---|---|---|---|---|---|---|
| Fixed assets | |||||||
| Investments | 12 | 3,824,211 | 205,626 | ||||
| Current assets | |||||||
| Debtors | 13 | 72,241 | 4,100,742 | ||||
| Cash at bank and in hand | 267,813 | 13,334 | |||||
| Creditors:amountsfallingduewithin one year |
14 | 340,054 (7,385) |
4,114,076 (8,919) |
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| Netcurrentassets Total assets less current liabilities |
332,669 4,156,880 |
4,105,157 4,310,783 |
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| Thefundsofthetrust | |||||||
| Endowmentfunds Unrestricted funds |
15 16 |
3,929,082 227,798 |
4,100,708 210,075 |
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| 4,156,880 | 4,310,783 |
The financial statements were approved by the trustees on 17 November 2025 Trustee Trustee Mr S Barnett Mr P Haigh-Lumby Trustee Mr A Fontes
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THE RICE-JONESCHARITABLETRUST | THE RICE-JONESCHARITABLETRUST |
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| NOTES TO THE FINANCIAL STATEMENTS | ||
| [ | FORTHEYEARENDED5APRIL2025 | |
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| r | Charity information | |
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The Rice-Jones Charitable Trust is a registered charity and is constituted under a Trust Deed dated 6 May 2016 in England & Wales and is unincorporated. The address of the principal office is Woodwater House, |
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| Pynes Hill, Exeter, EX2 S5WR. | ||
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1.1. | Accountingconvention The financial statements have been prepared in accordance with the trust's governing document, the Charities |
| Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the | ||
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Charities SORP“Accounting and Reporting by Charities: Statement ofRecommended Practice applicable to c es preparing their accounts in accordance with the Financial Reporting Standard appl able in the UK and Republic of Ireland (FRS 102)". The trust is a Public Benefit Entity as defined by FRS 102. |
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The trusthastaken advantage ofthe provisions in theSORPforcharities nottoprepare astatementofcash flows. |
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The financial statementshavedeparted from the Charities (AccountsandReports) Regulations2008onlyto the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of |
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| Recommended Practice which is referred to in the Regulations but which has since been withdrawn. | ||
| i | The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. |
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| ill | The financial statements have been prepared underthe historical cost convention.The principal accounting policies adopted are set out below. |
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| 1.2. | Going concern | |
| At the time of approving the financial statements, the trustees have a reasonable expectation that the trust | ||
| has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees | ||
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| Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable | ||
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| Endowment funds represent assets which will be held by the trust. The trustees do have discretion to use | ||
| = | capital should they wish. | |
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| ie | 1.4 | Income |
| Income is recognised when the trust is legally entitled to it after any performance conditions have been met, | ||
| - | theamountscanbemeasured reliably, and it isprobable thatincomewillbereceived. | |
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Legaciesarerecognisedonreceiptorotherwise ifthetrusthasbeennotified ofanimpending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. |
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I ——— —————<——— ———— I THE RICE-JONES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 | iq 1 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. HH sharedExpenditurecosts,isincludingclassifiedsupportby activity.costsTheinvolvedcostsinofundertaking each activityeachareactivity. made Directup of thecoststotalattributableof direct tocostsa singleand activity are allocated directly to that activity. Shared costs which contribute to more than one activity and consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and HT] depreciationsupport costscharges which areare notallocated attributableon the to aportion singleof activitythe asset's are apportioneduse. between those activities on a basis 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net ill 1.7. Financialincome/(expenditure)instruments for the year. Transaction costs are expensed as incurred. The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other |} Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the il] contractual provisionsFinancial assets and ofliabilities the instrument.are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net | Basicbasis orfinancial to realiseassets the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. i Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable il the arrangement constitutes a financing transaction, where the debt instrument is measured at the present within one year are not amortised. i Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. | Tradeoperationscreditorsfromaresuppliers.obligationsAmountsto paypayablefor goodsareorclassified services asthatcurrenthave beenliabilitiesacquiredif paymentin the ordinaryis due withincourseoneof year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or || Derecognitioncancelled. of financial liabilities u 7
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; Donations and gifts 4 10,000 . 10,000 i Legacies - 19,292 19,292 - 4,100,708 4,100,708 en en ne —_—_____. ee en |c | - 19,292 19,292 10,000 4,100,708 4,110,708 4 4 Income from investments J Unrestricted Unrestricted | funds funds (7 2025 2024 i| IncomeInterest receivablefrom listed investments 65,92922,214 5,429390 . 88,143 5,819 | | lIoe i
(iy THE RICE-JONES CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2025 fll NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2 Critical accounting estimates and judgements
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In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future Keyperiods.sources of estimation uncertainty
Recognising income from legacies
Receipt of a legacy is recognised when it is probable that it will be received.
The amounts recognised include an estimate for the final distribution due from the estate of £70,000. Any variations ot this amount will be reflected in the accounts for the year ended 5 April 2026.
3 Income from donations and legacies
| Income from donations and legaciesfrom donations and legaciesdonations and legacies | Income from donations and legaciesfrom donations and legaciesdonations and legaciesand legacieslegacies Unrestricted funds |
Endowment funds |
Total | Unrestricted funds |
Endowment funds |
Total | |
|---|---|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | £ | £ | ||
| Donations and gifts | 4 | 10,000 | . | 10,000 | |||
| Legacies | - | 19,292 | 19,292 | - | 4,100,708 | 4,100,708 | |
| - en |
19,292 en |
19,292 ne |
10,000 —_—_____. |
4,100,708 ee |
4,110,708 en |
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| Income from investments | Unrestricted funds |
Unrestricted funds |
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| 2025 | 2024 | ||||||
| IncomeInterest receivablefrom from listed investments Interest receivablefromreceivablefrom |
65,92922,214 22,214 |
5,429390 390 |
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| 88,143 | 5,819 | ||||||
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tH THE RICE-JONES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) iH] FOR THE YEAR ENDED 5 APRIL 2025
| 5 | Expenditureonraisingfunds | ||
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| Unrestricted | Unrestricted | ||
| funds 2025 |
funds 2024 |
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| £ | £ | ||
| Investmentmanagement | 27,045 | 2,513 | |
| 6 | Expenditureoncharitableactivities | Charitable expenditure |
Charitable expenditure |
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Accountancy Legal and professional Travelling costs |
2,680 14,148 580 |
2,450 6,469 - |
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| 17,408 | 8,919 | ||
| Grantfundingof activities(see note7) | 10,050 27,458 |
- 8,919 |
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| Analysis by fund | |||
| Unrestricted funds | 27,458 | 8,919 | |
| 7 | Grants payable | ||
| Charitable | |||
| expenditure | |||
| 2025 | |||
| £ | |||
| Grants to individuals | 10,050 | ||
| 8 | IndependentExaminer'sRemuneration Fees payable to the independent examiner: |
2025 £ |
2024 £ |
| For audit services | |||
| Independent examination of the financial statements | 2,680 | 2,450 | |
| ——— | —— |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. Expenses in relation to the reimbursement of travelling costs totalling £580 was paid to 3 Trustees (2024: £Nil).
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I THE RICE-JONES CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2025 lil NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) lil 10 Gains and losses on investments Unrestricted Endowment Total Hl funds20252025 funds20252025 2025 Gains/(losses) arising on: £ £ £ i Revaluation of investments - (229,234) (229,234) id Sale of investments of investments investments - (2062222 , 835)399399 (2062222 , 399835)835) LI 11. Taxation r The charity is exempt from taxation on charity is exempt from taxation on is exempt from taxation on exempt from taxation on from taxation on taxation on on its activities because activities because because all its its income is applied for charitable 12 Fixed asset investments r|
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|Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|funds20252025|funds20252025|2025|funds2024|funds2024|2024|
|Gains/(losses)|arising|on:|£|£|£|£|£|£|
|Revaluation|of|
|investments|-|(229,234)|(229,234)|15,978|-|15,978|
|Sale of investments of investments investments|-|(2062222|,|835)399399|(2062222|,|399835)835)|15,917(61)|-|15,917(61)|
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The charity is exempt from taxation on charity is exempt from taxation on is exempt from taxation on exempt from taxation on from taxation on taxation on on its activities because activities because because all its its income is applied for charitable purposes. 12 Fixed asset investments
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|investmentsListed|
|£|
|Cost|or|valuation|
|At|6|April|2024|205,626|
|Additions|4,344,652|
|Valuation|changes|(229,234)|
|Gain|on|sale|of|investments|22,399|
|Disposals|(516,991)|
|At|5|April|2025|3,826,452|
|Carrying|amount|
|At|05|April|2025|3,826,452|
|At|05|April|2024|205,626|
|13|Debtors|
|2025|2024|
|Amounts|falling|due|within|one|year:|£|£|
|Trade|debtors|<|34|
|Other debtors|72,24172,241|4,100,7084,100,742|
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|during|the|year|ended|5|April|2025,|with|monies|being|confirmed|post|year-end.|
|Other debtors comprise monies due to the trust from an estate in the form of a legacy.|Entitlement occurred|
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THE RICE-JONES CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2025 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
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14 Creditors: amounts falling due within one year 2025 2024
Trade creditors 4,615 6,469
Accruals and deferred income 2,770 2,450
7,385 8,919
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15 Endowment funds
Endowment funds represent assets which will be held by the trust. Income arising on the endowment funds can be used in accordance with the objects of the trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund; however, the trustees do have discretion to use capital should they wish.
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| At | 6 April | Incoming | Transfers | Gains and | At 5 April | |
|---|---|---|---|---|---|---|
| 2024 | resources | losses | 2025 | |||
| £ | £ | £ | £ | £ | ||
| Expendableendowments | ||||||
| 4,100,708 | 19,292 | 15,917 | (206,835) | 3,929,082 | ||
| Previous year: | At | 6 April | Incoming | Transfers | Gains and | At 5 April |
| 2023 | resources | losses | 2024 | |||
| £ | £ | £ | £ | £ | ||
| Expendable endowments | ||||||
| - | 4,100,708 | - | - | 4,100,708 |
Expendable endowments
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 6 | April | Incoming | Resources | Transfers | Gains and | At 5 April | |
|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | losses | 2025 | |||
| £ | £ | £ | £ | £ | £ | ||
| General funds | 210,075 | 88,143 | (54,503) | (15,917) | - | 227,798 | |
| ———— | —— eer |
——SSS—__ | ——— | —__ | ——-— | ||
| Previous year: | At 6 | April | Incoming | Resources | Transfers | Gains and | At 5 April |
| 2023 | resources | expended | losses | 2024 | |||
| £ | £ | £ | £ | £ | £ | ||
| Generalfunds | 189,771 | 15,819 | (11,432) | - | 15,917 | 210,075 |
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THE RICE-JONES CHARITABLE TRUST
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
17 Analysis of net assets between funds
| NOTES TO THETO THETHE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5THE YEAR ENDED 5YEAR ENDED 5ENDED 55APRIL 20252025 Analysis of net assets between fundsof net assets between fundsnet assets between fundsassets between fundsbetween fundsfunds |
(CONTINUED) | ||
|---|---|---|---|
| Analysis of net assets between fundsof net assets between fundsnet assets between fundsassets between fundsbetween fundsfunds | Unrestricted funds 2025 |
Endowment funds 2025 |
Total 2025 |
| £ | £ | £ | |
| At5April2025: Investments Current assets/(liabilities) |
- 227,798 |
3,824 211 104,871 |
3,824,211 332,669 |
| 227,798 | 3,929,082 | 4,156,880 | |
| Unrestricted | Endowment | Total | |
| funds | funds | ||
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| At 5 April 2024: | |||
| Investments | 205,626 | - | 205,626 |
| Current assets/(liabilities) | 4,449 | 4,100,708 | 4,105,157 |
| 210,075 | 4,100,708 | 4,310,783 |
18 Related party transactions
directors of Michelmores Trust Corporation Limited were also partners of Michelmores LLP. During the year Michelmores Trust Corporation Limited was a corporate Trustee of the charity until 6 March 2024. The ended 5 April 2024, solicitors fees of £6,469 were invoiced by Michelmores LLP.
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