The Equinoxe Trust Charity registration number 1173473 Trustees' report and accounts For the year ended 31 May 2025
The Equinoxe Trust
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 3 |
| Statement of trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Cash flow statement | 8 |
| Notes to the accounts | 9 - 11 |
Legal and administrative information
The Equinoxe Trust
| Settlor | Kurt Rolf Richard Björklund |
|---|---|
| Trustees | Kurt Rolf Richard Björklund |
| Dahlia Björklund | |
| Date of settlement | 31 May 2017 |
| Charity number | 1173473 |
| Principal address | Wilton Row |
| Mailbox 512 | |
| 114 11 | |
| Stockholm | |
| Sweden | |
| Accountants | S&W Partners LLP |
| Old Library Chambers | |
| 21 Chipper Lane | |
| Salisbury | |
| Wiltshire | |
| SP1 1BG | |
| Independent examiner | Philip Evans FCA |
| PJE Chartered Accountants | |
| 2 Oakfield Road | |
| Clifton | |
| Bristol | |
| BS8 2AL | |
| Bankers | J P Morgan International Bank Limited |
| 1 Boulevard du Roi Albert II | |
| B-1210 Brussels | |
| Belgium | |
| Solicitors | Withers LLP |
| 20 Old Bailey | |
| London | |
| EC4M 7AN |
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The Equinoxe Trust
Trustees' report For the year ended 31 May 2025
The trustees present their report and accounts for the year ended 31 May 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 and comply with 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 (FRS102) published on 1 January 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of settlement dated 31 May 2017, and constitutes an unincorporated charity.
Trustees
The trustees who served during the year were: Kurt Rolf Richard Björklund Dahlia Björklund
The power of appointing new trustees is vested in the Settlor, Mr Kurt Rolf Richard Björklund.
Risk management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed such risks and are satisfied that systems are in place to mitigate their exposure to major risks.
Related parties
During the year, the trustee, Mr Kurt Björklund, donated £714,292 (2024: £572,219) to the charity.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees shall hold the capital and income of the trust fund upon trust to apply the income, and all or such parts of the capital, at such time or times and in such manner to, or for the benefit of, such exclusively charitable objects and purposes in any part of the world as the trustees may in their discretion think fit.
Public benefit
The trustees confirm that they 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 setting its grantmaking policies.
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Trustees' report For the year ended 31 May 2025
The Equinoxe Trust
FINANCIAL REVIEW
Achievements and performance
The trustees do not usually consider unsolicited applications unless they meet the criteria of the charity. All grants are considered by the trustees at their meetings. The trust intends to make grants to charities in the UK and overseas. It will support charities on a long term basis but each year this list will be reviewed and new charities may be added. The trust will make grants to registered charities and not to individuals.
Grantmaking
During the year ended 31 May 2025 the charity committed to make grants to charities totalling £200,141 (2024: £50,000). The grants for 2023 included a pledge for 3,000,000 euros to The INSEAD Foundation over a 5 year period. The third instalment of 600,000 euros was paid in the year, with the remainder included in creditors.
Reserves policy
The trustees apply the unrestricted funds for the general purposes of the charity as set out in the governing document. There was a positive balance of unrestricted funds at 31 May 2025 of £267,836 (2024: negative £325,759). The settlor and trustee Mr Kurt Björklund plans to make regular donations to the charity out of his available income to continue to build up the charity's reserves.
Investment powers and policy
There are no restrictions on the trustees' power to invest.
On behalf of the board of trustees
.............................. Kurt Björklund
Mr Kurt Björklund
Trustee
Dated: ........................................ 15 April 2026
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The Equinoxe Trust
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (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.
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The Equinoxe Trust
Independent examiner's report to the trustees of The Equinoxe Trust for the year ended 31 May 2025
I report to the trustees on my examination of the accounts of The Equinoxe Trust for the year ended 31 May 2025 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant accounting policies.
Respective responsibilities of trustees and examiner 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of the 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.
................................................. Philip Evans
Philip Evans FCA
PJE Chartered Accountants 2 Oakfield Road Clifton Bristol BS8 2AL
Date: 15 April 2026
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The Equinoxe Trust
Statement of financial activities For the year ended 31 May 2025
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| Total | Total | |||
| 2025 | 2024 | |||
| Notes | Page | £ | £ | |
| Income and endowments | ||||
| Donations received | 2 | 714,292 | 572,219 | |
| Gift aid | 2,500 | 292,183 | ||
| Interest on gift aid receivable | 68,111 | 14,619 | ||
| Deposit interest | 34 | 30 | ||
| Total income | 784,937 | 879,051 | ||
| Expenditure | ||||
| Charitable activities | ||||
| Grants payable | 4 | (200,141) | (50,000) | |
| Governance costs | ||||
| Accountancy fees | (4,657) | (4,279) | ||
| Independent examiner fees | (1,080) | (1,080) | ||
| Independent auditor's fees | - | (3,012) | ||
| Bank charges | (322) | (128) | ||
| Sundry expenses | (310) | - | ||
| Legal fees | (1,840) | - | ||
| Total expenditure | (208,350) | (58,499) | ||
| Other recognised gains: | ||||
| Gains on foreign exchange | 17,008 | 32,310 | ||
| Net movement in funds | 593,595 | 852,862 | ||
| Fund balances at 1 June 2024 | (325,759) | (1,178,621) | ||
| Fund balances at 31 May 2025 | 7 | 267,836 | (325,759) |
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The Equinoxe Trust
Balance sheet As at 31 May 2025
| Notes Page Current assets Debtors 9 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 10 Total assets less current liabilities Long term liabilities Creditors due in more than one year 11 Net assets/(liabilities) Funds Unrestricted funds 6 |
£ 1,103,680 180,533 1,284,213 (511,156) |
2025 £ £ 1,197,489 19,829 1,217,318 (522,009) 773,057 (505,221) 267,836 267,836 267,836 |
2024 £ 695,309 (1,021,068) (325,759) (325,759) (325,759) |
|---|---|---|---|
The accounts were approved by the trustees and authorised for issue on .................................................. 15 April 2026 and were signed on their behalf by:
Kurt Björklund
..............................
Mr Kurt Björklund Trustee
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The Equinoxe Trust
Cash flow statement for the year ended 31 May 2025
| Net movement in funds (as per Statement of financial activities) Decrease in creditors Decrease/(increase) in debtors Increase in cash Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Analysis of net funds At 1 June 2024 Cash at bank and in hand 19,829 |
2025 2024 £ £ 593,595 852,862 (526,700) (536,190) 93,809 (306,802) 160,704 9,870 19,829 9,959 180,533 19,829 Cash At 31 May flows 2025 160,704 180,533 |
|---|---|
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The Equinoxe Trust
Notes to the accounts for the year ended 31 May 2025
1 Accounting policies
1.1 Basis of preparation
These accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS102.
The accounts are presented in sterling and are rounded to the nearest pound.
1.2 Fund accounting
The funds held are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the trust and which have not been designated for any other purpose.
1.3 Going concern
The trustees are confident that the charity will continue to be a going concern and the accounts have been prepared on that basis.
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the trust is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for the allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.
1.6 Liabilities
Liabilities are recognised on the balance sheet as soon as a constructive obligation resulting from a past event can be reliably measured. Current liabilities represent those liabilities which are expected to be settled within the next 12 months from the balance sheet date.
1.7 Foreign exchange
Foreign currency transactions are converted to sterling on the date of transaction.
Grant commitments at the year end in foreign currency are converted to sterling using the exchange rate on 31 May 2025.
| 2 Donations Mr Kurt Björklund |
2025 £ 714,292 714,292 |
2024 £ 572,219 |
|---|---|---|
| 572,219 |
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The Equinoxe Trust
Notes to the accounts for the year ended 31 May 2025
3 Legal status of the trust
The charity is governed by a trust deed dated 31 May 2017.
4 Grants payable
| Grants payable CW+ Signal Technology Foundation African Parks UK Center for Humane Technology Reconciliation of grants payable Commitments at 1 June 2024 Grants payable for the year Grants paid during the year Foreign exchange (gain)/loss Commitments at 31 May 2025 Commitments at 31 May 2025 are payable as follows: Within one year After more than one year |
2025 £ - 80,995 80,995 38,151 200,141 1,531,602 200,141 (704,536) (16,765) 1,010,442 505,221 505,221 1,010,442 |
2024 £ 50,000 - - - 50,000 2,076,163 50,000 (562,251) (32,310) 1,531,602 510,534 1,021,068 1,531,602 |
|---|---|---|
5 Trustee remuneration
The trustees do not receive remuneration from the charity.
6 Employees
There were no employees during the year (2024: none).
7 Related party transactions
During the year, the trustee, Mr Kurt Björklund, donated £714,292 (2024: £572,219) to the charity.
8 Taxation
As a charity, The Equinoxe Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chargeable objects.
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The Equinoxe Trust
Notes to the accounts for the year ended 31 May 2025
| 9 Debtors Gift aid receivable Interest on gift aid receivable 10 Creditors: amounts falling due within one year Accountancy fees Independent examiner fees Independent auditor's fees Grants payable - The INSEAD Foundation 11 Creditors: amounts falling due after more than one year Grants payable - The INSEAD Foundation |
2025 £ 1,036,242 67,438 1,103,680 2025 £ 3,775 2,160 - 505,221 511,156 2025 £ 505,221 505,221 |
2024 £ 1,182,870 14,619 |
|---|---|---|
| 1,197,489 | ||
| 2024 £ 6,855 1,080 3,540 510,534 |
||
| 522,009 | ||
| 2024 £ 1,021,068 |
||
| 1,021,068 |
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