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2024-10-16-accounts

Trustees’ Annual Report for the period

From 17 October 2023 To 16 October 2024

Charity name: The IMP Trust Charity registration number: 1180551

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 Trust Fund upon trust to apply
the income, and all or such part or parts of
the capital, at such time or times and in such
manner to, or for the benefit of such
Charities or such exclusively charitable
purposes according to the laws of England
and Wales in any part of the world (Objects)
as the Trustees may in their 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
including program related
investment		 Para 1.38
Contribution made by
volunteers		 Para 1.38
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 grants totalling £88,733 to the
following charities:

Prostate Cancer UK

Saints Foundation (SFC)

Jumbulance Trust

The Guide Dogs for the Blind
Association

Home-Start Hampshire

Crisis UK

Southampton City Mission (CIO)

University of Southampton

Tall Ships Youth Trust

Age Concern-Chandler’s Ford

Battersea Cats’ and Dogs’ Home

Winchester Hospice Fundraising
Charity
Additional information (optional)
You may choose to include further statements where relevant about:		 Additional information (optional)
You may choose to include further statements where relevant about:		 Additional information (optional)
You may choose to include further statements where relevant about:
Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 At the end of the reporting period the charity
had free reserves of £20,555 (2023:
£14,343).
In addition to the free reserves the charity
has bank balances of £61,426 (2023:
£88,669)
and
investments
valued
at
£1,120,515
within
the
expendable
endowment fund which can be released to
support the activities of the charity.
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
Reasons for holding zero
reserves		 Para 1.22
Details of fund materially in
deficit		 Para 1.24
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23

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

The charity’s principal sources of funds (including any fundraising) Para 1.47 Investment policy and objectives including any social investment policy adopted Para 1.46

A description of the principal risks facing the charity Para 1.46 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
(trust deed, royal charter)		 Para 1.25 Trust deed dated 17 October 2018
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 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 settlors or the
survivors of them in their lifetime after which
time trustees may be 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 was paid
£8,551 for trust administration services and
£109 for the cash management services
during the year under review. These fees
are authorised under clause 13 of the trust
deed.
Other

Reference and Administrative details

Charity name The IMP Trust
Other name the charity uses
Registered charity number 1180551
Charity’s principal address Ludlow Trust Co Ltd
1stFloor, Tower Wharf
Cheese Lane, Bristol
BS2 0JJ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee (ifany)
Ludlow Trust
CompanyLimited
Maria Permain Settlor
Ian Reginald Permain Settlor

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

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for wholeyear
Funds held as custodian trustees on behalf of others
Description of the assets
held in this capacity
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets

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
Bankers
Accountants

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
Chris Thurlow
On behalf of Ludlow Trust
Company Limited

Trustee

13 August 2025

13 August 2025

The IMP Trust 1180551 Receipts and payments accounts For the period Period start date Period end date To from 17/10/2023 16/10/2024

CC16a

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
26,990
3,614
-
-
-
-
-
-
30,604
-
-
-
30,604
88,733
-
8,551
-
109
-
-
-
-
97,393
-
-
-
97,393
(66,789)
73,001
14,343
20,555		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
150,000
37,500
-
-
-
-
187,500
967,688
-
967,688
1,155,188
-
5,723
-
-
-
-
-
-
-
5,723
1,103,707
-
1,103,707
1,109,430
45,758
(73,001)
88,669
61,426		 Total funds
to the nearest £
26,990
3,614
150,000
37,500
-
-
-
-
218,104
967,688
-
967,688
1,185,792
88,733
5,723
8,551
-
109
-
-
-
-
103,116
1,103,707
-
1,103,707
1,206,823
(21,031)
-
103,012
81,981		 Last year
to the nearest £
Income from investments 26,990 17,764
Income from Interest 3,614 2,500
Addition to Trust - 250,000
Gift Aid - 62,500
Income from Dividends - -
- -
- -
- -
Sub total(Gross income for
AR)		 30,604 332,764
A2 Asset and investment sales,
(see table).
Sale of investments - 287,125
- -
Sub total - 287,125
Total receipts
A3 Payments
619,889
Charitable Payments 88,733 53,583
Investment Management Fees + VAT - 3,436
Trust Administration Fees + VAT 8,551 8,886
Independent Examination - 780
Cash Management Fee 109 173
-
- -
- -
- -
**Sub total ** 97,393 66,858
A4 Asset and investment
purchases, (see table)
Investmentpurchases - 499,921
- -
**Sub total ** - 499,921
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
566,779
(66,789) - 45,758 (21,031) 53,110
73,001 - (73,001) - -
14,343 - 88,669 103,012 49,902
20,555 - 61,426 81,981 103,012

CCXX R1 accounts (SS)

13/08/2025

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
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Investment portfolio
Details
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Capital account
Income account
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
20,555
-
-
-
20,555
-
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
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited		 Endowment
funds
to nearest £
61,426
-
-
61,426
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,120,515
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited		 13 August 2025

CCXX R2 accounts (SS)

13/08/2025

2

Independent Examiner's Report to the Trustees of The IMP Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 October 2024.

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.

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.

Geoffrey Frost BSc(Hons) FCA Date 13 August 2025 Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY