REGISTERED CHARITY NUMBER: 1172695 ort of the Trustees and Unaudited Financial Statements for the Year Ended 5 A ril 2025 for The Ennismore Charitable Trust Peter Hodgson & Co. Chartered Accountants Shadwell House 65 Lower Green Road Tunbridge Wells Kent TN4 8TW
The Ennismore Charitable Trust Contents of the Financial Statements for the Year Ended S A ril 2025 Page Report of the Trustees Independent Examiner's Report StatemeDt of Financial Activities Statement of Financial Position Notes to the Financial Statements 9 to 15 Detailed Statement of Financial Activities 16
The Ennismore Charitable Trust ort of the Trustees for the Year Ended 5 A ril 2025 The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of 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 l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity which are for the general public benefit are a5 follows= l) To advance the Roman Catholic religion mainly. but not exclusively by means of funding courses. conferences, scholarships, allowances or grants. 2) To advance the education of the public in the Christian relicvion in particular the Roman Catholic Church religion. 3) To advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time. Public benefit In cotnplying with the duty in section 17(5) of the Charities Act 2011 the trustees have had due reoard and referred to uidance contained in the Charity Commission's Cveneral Cruidance on public benefit when reviewing their aim and objectives and in planning their future activities. The trustees consider how planned aciivities will contribute to the aims and objectives they have set. Grantmaking & social investfflents The rri i%ie& adnnted a CTr?ni 1810 Pnl ic! dated ? l A nril ?n17 tn enqiire thar charilahle fiind< are if ed eYclii¢ivelv fnr the public benefit. The trustees seek to satisfy themselves that each grant is made in rtheranCe of a charitable purpose that offers an identifiable benefit to the public or a significant section of the public and that any private benefit that may arise to any person or cotnpany as a result of a grant is merely incidental. The trustees rnade a total of £1,338,51 l in grant payments to the following causes dunno the year.. £55,000 - Team Domenica £1 00,000 - Countess Mountbatten Hospice £40,000 - Catholic Marriaoe Care £12,000 - Genesis Perfonning Arts £132,137 - St Saviours RC Primary School £750,000 - St Oscar Rornero Catholic School £53,374 - Saint John Henry Newman Catholic Collecre £80,000 - Action Homeless Concem £10,000 - Society of Jesus £20,000 - Crisis UK £20,000 - Centrepoint Fundrdising £20,000 - Sight Savers £20,000 - St Mungo Community Housing £20,000 - The Salvation Arniy £6,000 - St Thomas of Canterbury Catholic Primary School All grants made were for purposes that fall within the charity's objectives. The trustees do not anticipate any possibility of private benefit from their grnnt making but shall be mindful of conflicts of interest or loyalty etc. Page I
The Ennisrnore Charitable Trust ort of the Trustees for the Year Ended 5 A ril 2025 FINANCIAL REVIEW Financi21 position The trustees are satisfied with the perfonnance for the year and the financial position of the charity at the year end. The deficit for the year amounted to £1,438,409 which includes £1.338,51 l of charitable wtmaking. The balance on the general nd at the year end amounted to £7,236,416. During the year the charity received £292,461 by way of interest incorne on its bank deposits. No income was received froTn its revocable interest in ihe incotne of a settlement from which its investment property was originally derived, but after the date to which these accounts have been prepared the trust received a final distribution of £249,000 in its capacity as the reversionary beneficiary. Additionally, no rental income is reflected in these accounts since, following the detennination in July 2022 by the erstwhile tenant's executors of the underlease over the trust's property at Flat 127 Ennismore Gardens and the remaining in occupation of an erstwhile housekeeper, no rent has been collected. Followino legal proceedtngs and a payment of a surn of money to the occupant the trust obtained vacant possession of the fla¢ this was sold for £1.320.000 before legal and professional fees against a book value of £1,300,000. The charity made grants of £l,JJ 8,51 I durino the year. The main expendire comprised service charges on the property, costs of obtaining possession, legal and professional costs and the independent examiner's fee for the year. banK ana. casn tjaiances ai ihe year ena amounied 10 * 1.2i8, Iv l. Negotiations as betH'een some of the parties claiming an interest in the family portrait to which reference was made in last year's report have yet to be concluded this situation resulting in the successful bidder at the April 2024 auction declining to pay the harnmer price. Notwithstanding the complexities of the situation some progress can however be reported in that after the date to which these accounts have been made up encouraoino discussions have taken place directly as between the trustees and members of the consignovs family with a view to all parties agreeing to the painting being put up for sale at a further auction with a leading international house. With a view to consolidating the clairns of the trust and two other principal claimants the legal costs involved in its promotion have been financed by the trust on the basis that two thirds thereof will be recovered provided that the trust is successful in its clairn. Principal funding sources The charity's principal funding resources are those as stated above. Page 2
The Ennismore Charitable Trust ort of the Trustees for the Year Ended 5 A ril 2025 FINANCIAL REVIEW Reserves policy The trustees, policy as regards the maintenance of reserves is to ensure that at all times a prudent balance exists as between the long-tenn fmancial stability of the charity and the on-croing 5UPPOrt it aims to give to charitable causes. The balance on the general fund at the year end amounted to £7,236,416 after making grant payments of £1,338,51 l in the year. Following their disposal of the charity's main property and their decision to sell the flat once vacant possession had been obtained, the trustees have resolved to adUallY apply the trnst's resources in line with their Objects and Grant Making Policy with a view to the whole of the charity's resources being so expended over the course of the next four years. In this connection, the trustees have fornied a Sub-committee to help identify potential beneficiaries and have made grants totalling £814,839 so far during the year endino 5 April 2026. The sub-committee continues to identify rther charities which would benefit from support from the trust and envisages making further recommendations for grants to be made during the course of that year. Going concern At the time of approving the financial statements, the tnte¢S have a reasonable expectation that the charity has adequate resources to continue in operational existence throughout the period of four year5 during which as explained above it is envisaged the trust's resources will be wholly expended. accordingly the trustees have adopted the going concern basis of accounting in preparing these financial statements. l LJliL VLAN) The Irii&Tee£ are hniind ihe lenn< nf Trii<t need d8red 16 Ilarch ?n i A 4£ gmended hv rhe Deed thf Variatinn dated ? I April 2017 and the Grant Making Polic). adopted by them on 21 April 2017. The charity has a primary purposes relating to the advancement of the Roman Catholic religion and advancing the education of the public in the subject of religion and are considering making grants to schools or educational establishments in Hungary which are in line with the charity's objects and Grant Making Policy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doculnent and decision making The charity is controlled by its governing documents as is decision making by the trustees. These documents comprise the Declaration of Trust dated the 16 March 2016 and the Deed of Variation dated the 21 April 2017. They are drawn up in accordance with the relevant provisions of the Charities Act 2011. The trustee5 adopted a Grant Makino Policy dated 21 st April 2017 to ensure that charitable fvnds are used exclusively for the public benefit. The Trustees will seek to satisfy themselves that each grant is made in furtherance of a charitable purpose that offers an identifiable benefit to the public or a si.trnificant Section of the public and that any private benefit that may arise to any peTson or company as a result of a grant is merely incidental. Any grants made shall be in the best interests of the charity and will be used for purposes that fall within the charity's objectives. The trustees do not anticipate any possibility of private benefit from their grant making but shall be mindful of conflicts of interest or loyalty etc. The trustees will regularly refer to the Charity Commission guidance on public benefit to ensure compliance. Page 3
The Enni5more Charitable Trust ort of the Trustees for the Year Ended 5 A ril 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees There has been no change in the trustees durino the accounting year under review. The trustee5 at the date of creation of the charity all served durino the period and were still serving at the year end. Risk management The trustees acknowledoe their dury to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable &ssurance against fraud and error. Robust and suitable procedures are in place to ensure these obligations are met to the fullest extent as is reasonable. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1172695 Principal address l Yar Cottages Mill Road Yamiouth Isle of Wight P041 ORE 'I"rustees I I[tthpw8 G C Drew. RVNeve Independent Examiner Aidan P Smjth ACA Peter Hodgson & Co. Chartered Accountants Shadwell House 65 Lower Green Road Tunbridge Wells Kent TN4 8TW Solicitors Withers LLP 20 Old Bailey London EC4M 7AN Banker5 C. Hoare & Co. Private Bank 37 Fleet Street London EC4P 4DQ
The Ennismore Charitable Trust Re ort of the Trustees for the Year Ended 5 A ril 2025 CONTINUING ACTIVITIES The trustees made a total of £1,338.51 l in grdnt payments to the followino causes during the year: £55,000 - Team Domenica £ 100,000 - Countess Mountbatten Hospice £40,000 - Catholic Marriaoe Care £12,000 - Genesis Perfonning Arts £132,137 - St Saviours RC Primary School £750,000 - St Oscar Rotnero Catholic School £53,374 - Saint John Henry NeIllan Catholic College £80,000 - Action Homeless Concem £10,000 - Society of Jesus £20,000 - Crisis UK £20,000 - Centrepoint Fundraising £20,000 - Sioht Savers £20,000 - St Mungo Community Housino £20,000 - The Salvation Amiy £6,000 - St Thomas of Canterbury Catholic Primary School Approved by order of the board of trustees on 29 January 2026 and signed on its behalf by: R V Neve - Trii<tee Page 5
Inde endent Examiner's Re ort to the Trustees of The Enni5more Charitable Trust Independent examiner'5 report to the trustees of The Ennismore Charitable Trust I report to the charity trustees on my examination of the accounts of The Ennisrnore Charitable Tst (the Trust} for the year ended 5 April 2025. Responsibilities and basis of report As the charity trustees of the Trnst 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 Trust's accounts Caled out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Corrmiission under Section 145(5)(b) of the Act. Independent examiner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confirni that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in Enoland and Wales, which is one of the listed bodies. I have completed my examination. I confirni that no material matters have corne to my attention in connection with the examination giving me cause to believe that in any material respect: accountino records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities {Account5 and Reports} Regulations 2008 other than any requirernent that the accounts give a true and fair view which 15 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 exarnination to which attention should be drawn in Inis report In order 10 enable a proper unaersianaing ot Ine accoun 10 De reacnea. Aidan P Sm Peter Hodgson & Co. Chartered Accountants Shadwell House 65 Lower Green Road Tunbridge Wells Kent TN4 8TW 29 January 2026 Page 6
The Ennismore Charitable Trust Statement of Fin2ncral Activities for the Year Ended 5 A ril 2025 20?5 Unrestricted fund 2024 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and leoacies 3.615 Investment income 291,690 280,077 Total 291,690 283,692 EXPENDITURE ON Charitable activities and support costs Charitable activities 1,716,570 1.190,021 Other 55,000 Total 1.716.570 1,245,021 Net gain51(losses) on investments (13,529) 4LI IP4LVfvIEI{LXPEP4DI l UKL) (1.431%.4UYJ (Ybl,32Y) RECONCILIATION OF FUNDS Total funds brought forward 8.674,825 9,636,154 TOTAL FUNDS CARRIED FORWARD 7,2J6,416 8,674,825 The notes fonn part of these fmancial statements Page 7
The Ennismore Charitable Trust Statement of Financi21 Position ril 2025 2025 Unrestricted fund 2024 Total nds Notes FIXED ASSETS Investment Investment Investment property I,JOO,000 I,iOO,00 I CURRENT ASSETS Cash at bank 7.238.101 7,J76,509 CREDITORS Amounts falling due within one year (1,685) {1,685) NET CURRENT ASSETS 7.236.416 7.374,824 TOTAL ASSETS LESS CURRENT LIABILITIES 7,236.416 8.674,825 ET.4&£F.T 7?=AJIA A7J A?5 FUNDS Unrestricted funds 10 7,236,416 8,674,825 TOTAL FUNDS 7.236,416 8,674,825 The financial statements were approved by the Board of Trusrees and authori5ed for issue on 29 January 2026 and were signed on its behalf by.. R V Neve - Trustee The notes forni part of these financial Statements Page 8
The Ennismore Charitable Trusl Notes to the Financial Statements for the Year Ended S A ril 2025 ACCOUNTING POLICIES Basis of preparing the financial statement5 The financial statements of the charity. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102), Financial Reportino Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measuTed reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation conunitting 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 Tneasured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost relaied io the catetsory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent M'ith the use of resources. Grdnts offered subject to conditions which have not been met at the year end date are noted as a comrnitment but not accrued as expenditure. Allocation and apportionmeni ol. costs ReKni ITLe< expended are allnc8red rn ihe narriciilar acrivilv where the rn<r relareo direcrlv rn ihit ar*ivitv Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with Constitutional and statutory requirements. and include any costs associated with the strategic management of the charity's activities. Investment property & other assets The trust's vacant property Flat 1 27 Ennismore Gardens was sold for £1,320,000 before legal and professional charges against a book value of £1,300,000. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted fLLnds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted pUoses. At the period en(L all funds owned by the charity are unrestricted funds. Significant judgements 2nd estimates The charity's interest in Flat 1, 27 Ennismoie Gardens was valued by the trustee5 in the sum of £1,300,000. this being the only significant estimate incorporated in these accounts. Financial instruments and functional currency Basic fLnancial instruments comprisino unlisted investments. debtors. bank and cash balances are disclosed at fair value. continued..
The Ennismore Charitable Trust Notes to the Financial Statements- continued for the Year Ended 5 A ril 2025 ACCOUNTING POLICIES- continued Financial instruments and functional currency The functional currency of the charity is £ Sterling. INVESTMENT INCOME 2025 2024 Service charges payable Deposit account interest (771) 292.461 (16,048) 296,125 291,690 280,077 GRANTS PAYABLE 2025 2024 Charitable activities 1,338,511 938,734 The trustees made a total of £1,338,51 l in grant payments to the following causes during the year- £55,000 - TeaTn Domenica £ 100,000 - Countess Mountbatten Hospice 4U.UUU - Lathoiic fvlarriatie iare f l ? nfln Ciere£iÉ Pertnrin Ino A rt< £132, IJ7 - St Saviours RC Primary School £750,000 - St Oscar Romero Catholic School £5J,374 - Saint John Henry Newrnan Catholic College £80,000 - Action Homeless Concern £10,000 - Society of Jesus £20,000 - CTiSiS UK £20,000 - Centrepoint Fundraising £?O,000 - Sight Savers £20,000 - St MuT2go Community Housing £20,000 - The Salvation Anny £6,000 - St Thomas of Canterbury Catholic Primary School Page 10 continued...
The Ennismore Charitable Trust Notes to the Financial Statements- continued for the Year Ended 5 A ril 2025 SUPPORT COSTS Governance costs Finance Totals Charitable activities 454 377,605 378,059 Support costs. included in the above. are as follows: 2025 Charitable activities 2024 Total activities Sundry Bank charges Trustees, remuneration etc Legal & professional Independent examiner's fees 2,211 401 1,913 245,100 1,662 454 596 375,347 1,662 378,059 251,287 TRUSTEES, REMUNERATION AND BENEFITS No trustee received any remuneration during the year under review. Triistees, evpense Trustees were reimbursed £596 travel expenses during the year (2024 . £1,913). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 3,615 Investment incorne 280,077 Total 283,692 EXPENDITURE ON Charitable activities and support costs Charitable activities 1,190,021 Other 55,000 Total 1,245,021 NET INCOMEI(EXPENDITURE) {961,329) Page 11 continued...
The Ennismore Charitable Trust Note5 to the Financial Statements- continued for the Year Ended i A ril 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contÉnued Unrestricted fund RECONCILIATION OF FUNDS Total funds brouoht forward 9,636,154 TOTAL FUNDS CARRIED FORWARD 8,674,825 FIXED ASSET INVESTMENT Unlisted investment MARKET VALUE At 6 April 2024 Disposals (i) At 5 April 2025 NET BOOK VALUE At 5 April 20?5 .4t q .4nri l ?0?4 There were no investment assets held outside the UK. Fixed asset investrnent comprises the value of l ordinary share in 27-28 Ennismore Gardens Limited, a company incorporated in England & Wales and owning the freehold of one of the charity's investment properties. However, the accounts reflect the fact that ownership of this Shareholding had previously passed to the purchaser at the tirne of his acquiring the charity's leasehold interest in that property. The share is valued at par value of £1 each. INVESTMENT PROPERTY The trust's vacant propety Flat 1 27 Ennismore Gardens was sold for £1.320,000 before legal and professional charges against a book value of £1,300.000. Paoe 12 continued...
The Ennismore Charitable Trust Notes to the Fin2n¢i21 Stalements- continued for the Year Ended 5 A ril 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other creditors 1,685 1,685 io. MOVEMENT IN FUNDS Net movernent in funds At 5.4.25 At 6.4.24 Unrestricted funds General fund 8,674,825 (1,438,409) 7,236,416 TOTAL FUNDS 8,674,825 (1,438,409) 7,236,416 Net Movement in funds, included in the above are as follows: Incomino resources Resources expended Gain5 and losses Movement in funds Unrestricted funds eneral tund 2Y I,byv [1,71b,i7u) (l3,i2Y) (1,438,4UY) TOTAL FUNDS 291,690 (1.716,570) (13,529) (1,438,409} Comparatives for tnovement itt funds Net movement in fund5 At 5.4.24 At 6.4.23 Unrestricted funds General fund 9.636.154 (961,329) 8,674,825 TOTAL FUNDS 9.636.154 (961,329) 8,674,825 Page 13 continued...
The Ennislnore Charitable Trust Notes to the Financial Statements - continued for the Year Ended 5 A ril 2025 io. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movernent in funds Unrestricted fund5 General fund 283,692 (1,245,021) {961,329) TOTAL FUNDS 283,692 (1.245.021) (961,J29) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 5.4.25 At 6.4.23 Unrestricted funds General fund 9,636.154 (2,399.738) 7,236,416 I()IAL Y,bJb. l i4 [2,3yy,7311) 1,23b,41b A current year 12 months and prior year 12 months combined net movement in fimds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in ndS Unrestricted funds General fund 575.382 (2,961,591) (13.529) (2.399,738} TOTAL FUNDS 575,382 (2,961,591) (13,529) (2,399,73 8) Page 14 continued...
The Ennismore Charitable Trust Notes to the Financial Statements - continued for the Year Ended 5 A ril 2025 RELATED PARTY DISCLOSURES There are no related party transactions requiring disclosure in these accounts. 12. ULTIMATE CONTROLLING PARTY The charity is controlled by the trustees acting as a single body. Page 15
The Enni5more Charitable Trust Detailed Statement of Financial Activities for the Year Ended 5 A ril 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations and leoacies 3,615 Investment income Service charges payable Deposit account interest (771) 292,461 (16,048) 296,125 291,690 280.077 Total incotning resources 291,690 283,692 EXPENDITURE Charitable activities and support costs Grants io institutions 1.338,511 938,734 Other Payment to vacate 55,000 bupport costs mRn?.ae.et Sundry 2,211 Finance Bank charges 454 401 Governance eosts Trustees, expenses Legal & professional Independent examiner's fees 596 375,347 1.662 1,913 245,100 1,662 377,605 248,675 Total resources expended 1.716,570 1,245,021 Net expenditure before gains and losses (1,424,880) {961,329) Revaluation of investment property Realised & unrealised loss on investment property (13.529) Net expenditure (1,43 8,409) (961,329) Thi5 page does not forn] part of the statutory financial statements Page 16