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2026-02-16-accounts

Trustees’ Annual Report for the period

From 17 February 2025 To 16 February 2026

Charity name: The Stefan and May Frances Kwasniewski Charitable Trust Charity registration number: 1180477

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The trustees shall hold the capital and
income of the charitable trust fund upon
trust to apply the income and all or such part
or parts of the capital for or towards such
charitable purposes and to make donations
to such charitable institution or institutions at
such time or times and in such manner as
the trustees may in their absolute discretion
think fit.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In furtherance of the charity’s objects for the
public benefit the trustees provide grants.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 In determining the charity’s activities the
trustees have had regard to the Charity
Commission’s guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Policy on grant making Para 1.38 Policy on social investment Para 1.38 including program related investment Contribution made by Para 1.38 volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 During the year under review the charity
made one grant as follows:
•
Depaul UK Ltd £48,909 (England)

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 Total incoming resources for the year were
£17,488 (2025: £27,039), comprising
investment income and bank interest.
During the year the charity made grants
totaling £48,909 (2025: £50,025), funded in
part by a transfer of £30,964 (2025:
£31,919) from the expendable endowment
fund to unrestricted funds to support grant-
making activities.
At the year end the charity held total cash
balances of £6,369 (2025: £27,262), of
which £5,653 (2025: £15,947) represents
unrestricted free reserves. In addition, the
charity
held
investments
within
the
expendable endowment fund with a market
value of £1,078,135 (2025: £1,044,646)
These funds are available at the discretion
of the trustees to support the charity’s
objectives.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The Trustees pursue a policy of maintaining
a free reserve available to be spent in the
furtherance of the charity’s objectives as
well as covering future needs, opportunities,
contingencies and risks.
Amount of reserves held Para 1.22 At the end of the reporting period the charity
had
free
reserves
of
£5,653
(2025:
£15,947).
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 No funds in deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 N/A

Additional information (optional) You may choose to include further statements where relevant about: The charity’s principal Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any social investment policy adopted A description of the principal Para 1.46 risks facing the charity Expendable endowment funds are those which are required to be invested to produce Other income, but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives. Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document Para 1.25 Will dated 14/07/1993 as amended
19/08/22
Charity created 16/02/2018, being the date
of death
How is the charity
constituted?		 Para 1.25 Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Trustees are appointed by the trustees from
time to time

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51 No trustee received any remuneration or
was reimbursed any expenses in the year
under review.
Ludlow Trust Company Limited were paid
£8,637
(2025:
£10,638)
for
trust
administration
and
cash
management
services during the year under review.
These fees are authorised under clause 8 of
the trust deed.
Other

Reference and Administrative details

Charity name The Stefan and May Frances Kwasniewski Charitable
Trust
Other name the charity uses None
Registered charity number 1180477
Charity’s principal address Ludlow Trust Co Ltd, Tower Wharf, Cheese Lane, Bristol,
BS2 0JJ

Names of the charity trustees who manage the charity

Trustee name Office (if any) Dates acted if not for whole year Name of person
(or body) entitled
to appoint trustee
(ifany)
Ludlow Trust
Company Limited

– Corporate trustees names of the directors at the date the report was approved

Director name
Gary St John Collins (Resigned 31 March 2026)
Walter Coxon
Ali Sarikhani
Christopher Thurlow
Matthew Wickers
Ziba Sarikhani
Alexander Edward Mulroe (Appointed 1 April 2026)
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Investment Managers Royal Bank Of Scotland 2nd Floor Trinity Quay II Avon Street PO
Box 3138 BRISTOL BS2 2DH
Bankers Royal Bank Of Scotland 2nd Floor Trinity Quay II Avon Street PO
Box 3138 BRISTOL BS2 2DH
Accountants Charter Tax Consulting
Limited		 8th Floor 1 Southampton Street, London,
United Kingdom, WC2R 0LR
Independent Examiner Katie Wilson Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Christopher Thurlow

On behalf of Ludlow Trust
Company Limited (Trustee)

13 July 2026

13 July 2026
The Stefan and May Frances Kwasniewski Charitable Trust The Stefan and May Frances Kwasniewski Charitable Trust The Stefan and May Frances Kwasniewski Charitable Trust 1180477 1180477 CC16a
For the period
from		 17.02.2025
Period start date		 To 16.02.2026
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
16,147
1,341
-
17,488
-
-
-
17,488
48,909
-
8,592
600
45
600
-
58,746
-
-
-
58,746
- 41,258
30,964
15,947
5,653		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment funds
to the nearest £
-
-
-
-
1,254,639
-
1,254,639
1,254,639
-
3,712
-
-
-
-
-
3,712
1,230,562
-
1,230,562
1,234,274
20,365
- 30,964
11,315
716		 Total funds
to the nearest £
16,147
1,341
-
17,488
1,254,639
-
1,254,639
1,272,127
48,909
3,712
8,592
600
45
600
-
62,458
1,230,562
-
1,230,562
1,293,020
- 20,893
-
27,262
6,369		 Last year
to the nearest £
Income from investments 16,147 24,940
Interest received 1,341 2,099
- -
Sub total(Gross income for
AR)		 17,488 27,039
A2 Asset and investment sales,
(see table).
Sale of investments - 851,454
- -
Sub total - 851,454
Total receipts
A3 Payments
878,493
Grants awarded 48,909 50,025
Investment manager and admin fees - 4,717
Trust Management fees 8,592 10,569
Independent Examiners fees 600 510
Cash management fees 45 69
AccountancyFee 600 600
- -
**Sub total ** 58,746 66,490
A4 Asset and investment
purchases, (see table)
Investmentpurchases - 810,891
-
**Sub total ** - 810,891
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
877,381
- 41,258 - 20,365 - 20,893 1,112
30,964 - 30,964 - -
15,947 11,315 27,262 26,151
5,653 - 716 6,369 27,262

CCXX R1 accounts (SS)

13/07/2026

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Capital account
Income account
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Details
Investment portfolio
Details
Details		 Unrestricted funds
Restricted
funds
to nearest £
to nearest £
-
-
5,653
-
-
-
5,653
-
OK
OK
Unrestricted funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which asset
belongs
Cost (optional)
Endowment
-
-
-
-
-
Fund to which asset
belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which liability
relates
Amount due
(optional)
-
-
-
-
Print Name
Christopher Thurlow on behalf of Ludlow
Trust CompanyLimited(Trustee)		 Endowment
funds
to nearest £
716
-
-
716
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,078,135
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Christopher Thurlow on behalf of Ludlow
Trust CompanyLimited(Trustee)		 13 July 2026

CCXX R2 accounts (SS)

13/07/2026

2

Independent Examiner's Report to the Trustees of The Stefan and May Frances Kwasniewski Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 February 2026.

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.

  3. accounts comply with regulations

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.

Katie Wilson FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Date 13 July 2026