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The McGilvray Charitable Foundation 1181854
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 31.01.2024 30.01.2025
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Income from investments 21,254 - 21,254 19,712
Interest received 8,406 - 8,406 5,672
- - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
29,660 - - 29,660 25,384
AR)
A2 Asset and investment sales,
(see table).
Sale of investments - - 813,033 813,033 402,420
- - - - -
Sub total - - 813,033 813,033 402,420
Total receipts 29,660 - 813,033 842,693 427,804
A3 Payments
Grants awarded 35,000 - 35,000 28,495
Investment management fees (VAT
inculsive) - - 5,059 5,059 3,856
Trust administration fees (VAT inclusive)
8,660 - 8,660 8,312
Independent Examiners fees 180 - 180 780
Cash management fees 317 - - 317 342
Accountancy fee 600 - - 600 -
- - - - -
- - - - -
- - - - -
Sub total [ 44,757 ] - 5,059 49,816 41,785
A4 Asset and investment
purchases, (see table)
Investment purchases - - 809,607 809,607 412,397
- - - -
Sub total [ - ] - 809,607 809,607 412,397
Total payments 44,757 - 814,666 859,423 454,182
Net of receipts/(payments) - 15,097 - - 1,633 - 16,730 - 26,378
A5 Transfers between funds 8,738 - 8,738 - -
A6 Cash funds last year end 24,049 167,437 191,486 217,863
Cash funds this year end 17,691 - 157,065 174,756 191,485
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CCXX R1 accounts (SS) 25/11/2025 1 ## **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**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
**Details**
Capital account
Income account
**Details**
Signature|**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**17,691**
**-**
**-**
**-**
**17,691**
**-**
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
David Breach on behalf of Ludlow
Trust Company Limited|**Endowment**
**funds**
**to nearest £**
**157,065**
**-**
**-**| |---|---|---|---| ||||**157,065**| ||||OK| ||||**Endowment**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Current value**
**(optional)**
**964,489**
**-**
**-**
**-**
**-**
**Current value**
**(optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**When due**
**(optional)**
Date of
approval
26/11/2025| CCXX R2 accounts (SS) 25/11/2025 2 ## **Trustees’ Annual Report for the period** ## **From 31 January 2024 To 30 January 2025** ## **Charity name: The McGilvray Charitable Foundation Charity registration number: 1181854** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objects of the charity are to apply the
income, and all or such part or parts of the
capital, at such time or times and is such a
manner to, or for the benefit of such charities
or such exclusively charitable purposes
according to the law of England and Wales
in any part of the world 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:|**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:| |---|---|---| ||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 **----- Start of picture text -----**
Summary of the main During the year under review the charity
achievements of the charity, made grants to three charities totalling
identifying the difference the £35,000.
charity’s work has made to
the circumstances of its
beneficiaries and any wider Para 1.20
benefits to society as a
whole.
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## **Additional information (optional)** **----- Start of picture text -----**
You may choose to include further statements where relevant about:
Achievements against
objectives set Para 1.41
Performance of fundraising
activities against objectives Para 1.41
set
Investment performance
against objectives Para 1.41
Other
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## **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 £17,691 (2024:
£24,049.
In addition to the free reserves the charity
has bank balances of £157,065 (2024:
£167,437) and investments valued at
£964,489 within the expendable endowment
fund.
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.| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|| |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|| |Other||| |**Structure, Governance and Management**||| |Description of charity’s
trusts:||| |Type of governing document
(trust deed, royal charter)|Para 1.25|Trust deed dated 30 January 2019| |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
survivors of them during their lifetimes and
subject to this by the trustees.| **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
£8,977 for trust administration services
during the year under review. These fees
are authorized under clause 6 of the trust
deed.| |Other||| ## **Reference and Administrative details** |Charity name|The McGilvray Charitable Foundation| |---|---| |Other name the charity uses|| |Registered charity number|1181854| |Charity’s principal address|Trustees Department
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|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee(if any)**| |---|---|---|---|---| ||David Andrew
Spruzen|||| ||Sara Lynn Spruzen|||| ||Ludlow Trust
CompanyLimited|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved **Director name** Gary St John Collins Walter Duncan Coxon Ali Reza Sarikhani Ziba Christina Sakine Sarikhani Christopher Ian Thurlow Matthew John Wickers 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 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**|Coutts & Co|440 The Strand, London, WC2R 0QS| |**Bankers**|Coutts & Co|440 The Strand, London, WC2R 0QS| |**Accountants**|Charter Tax Consulting
Limited|8th Floor, Southampton Street, WC2R
0LR| |||| ## **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)** David Breach on behalf of Ludlow Trust Company Limited **Position (eg Secretary, Chair, etc) Date** 26/11/2025 2025-11-25McGilvrayFndReceiptsAndPayments Final Audit Report 2025-11-26 Created: 2025-11-25 By: Marta Kurpickaja (marta.kurpickaja@ludlowtrust.com) Status: Signed Transaction ID: CBJCHBCAABAAB_k32KlUrSv-RAzbpNOPsXjndLginmXa ## "2025-11-25McGilvrayFndReceiptsAndPayments" History Document created by Marta Kurpickaja (marta.kurpickaja@ludlowtrust.com) 2025-11-25 - 4:55:16 PM GMT Document emailed to David Breach (david.breach@ludlowtrust.com) for signature 2025-11-25 - 4:55:22 PM GMT Email viewed by David Breach (david.breach@ludlowtrust.com) 2025-11-26 - 12:42:52 PM GMT Document e-signed by David Breach (david.breach@ludlowtrust.com) Signature Date: 2025-11-26 - 12:43:31 PM GMT - Time Source: server Agreement completed. 2025-11-26 - 12:43:31 PM GMT **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees/** Charity Name **members of** The McGilvray Charitable Foundation **On accounts for the year** 30 January 2025 **Charity no** 1181854 **ended (if any) Set out on pages** Financial statements page 1-2 Trustee report page 3-12 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/01/2025. - **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** 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 carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Date:** 27/11/2025 **Signed: Name:** Ian Rodd **Relevant professional** BSc FCA FCCA **qualification(s) or body (if any): Address:** TC Group 10 Bridge Street, Christchurch Dorset BH23 1EF 1 **IER** **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . n/a 2 **IER**