**Charity registration number 1183146 (England and Wales)**
## **THE CATHERINE WINES CHARITABLE TRUST**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2025**
## **THE CATHERINE WINES CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** I Ahmed R J Mackie B Sidibe-Cisse **Charity number** 1183146 **Principal address** Sinclair Gibson 3 Lincoln's Inn Fields London WC2A 3AA **Independent examiner** Gravita Audit II Limited Aldgate Tower 2 Leman Street London United Kingdom E1 8FA
## **THE CATHERINE WINES CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Statement of Trustees responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Notes to the financial statements|7 - 11|
## **THE CATHERINE WINES CHARITABLE TRUST**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
The Trustees present their annual report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's settlement deed , 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 (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
The objective of the Charity is to make funding available to charities for the purpose of assisting those affected by homelessness, promoting girls' education, helping disadvantaged children, promoting diversity at school and work, helping young adults to set up business and to support cancer research.
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Charity's aims and objectives, in planning future activities, and setting the grant making policy for the year.
## _Public benefit_
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The charity continues to donate to causes in line with its objectives.
## **Financial review**
The Catherine Wines’ Executor donated further funds of £5,355 to the Trust during the year.
The Trustees made one donation of £80,000 during the year.
The Trustees anticipate making donations and grants in accordance with the objectives of the Trust and are currently developing a strategy for implementing a grant programme with the help of sector professionals.
## _Reserves policy_
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities. This level of reserves has been maintained throughout the year.
## _Major risks_
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Plans for future periods**
The Trustees are currently reviewing the scope of the charity's support of relevant causes in order to increase pledges in the future.
## **Structure, governance and management**
The Charity was constituted by a settlement deed dated 15 January 2019. The settlor was Catherine Wines. The Charity was registered with the Charity Commission on 26 April 2019.
The Trustees who served during the year and up to the date of signature of the financial statements were: I Ahmed
R J Mackie B Sidibe-Cisse
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## **THE CATHERINE WINES CHARITABLE TRUST**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
The Charity's day-to-day activities are administered by its Board of Trustees who in addition are responsible for the consideration and authorisation of the charitable expenditure incurred. No Trustees are remunerated by the Charity and no Trustees had any beneficial interest in any contract with the Charity.
The Charity maintains a small core number of Trustees. When recruiting Trustees, they are considered based on good standing, professional qualification and the experience of the areas listed in the grant making policy.
The Trustees report was approved by the Board of Trustees.
.............................. R J Mackie
**Trustee**
3/2/2026 Date: .............................................
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## **THE CATHERINE WINES CHARITABLE TRUST**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
The Trustees are responsible for preparing the Trustees Report and the financial statements 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 financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements 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.
- 3 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE CATHERINE WINES CHARITABLE TRUST**
I report to the Trustees on my examination of the financial statements of The Catherine Wines Charitable Trust (the Charity) for the year ended 5 April 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
- I have completed my examination. I confirm that no 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 Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
## **Gravita Audit II Limited**
Aldgate Tower 2 Leman Street London E1 8FA United Kingdom 4/2/2026 Date: ............................
- 4 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|5,355|176,074|
|Investments|**3**|41,007|29,470|
|**Total income**||46,362|205,544|
|**Expenditure on:**||||
|Charitable activities|**4**|99,046|89,303|
|**Total expenditure**||99,046|89,303|
|**Net income/(expenditure) and movement in funds**||(52,684)|116,241|
|**Reconciliation of funds:**||||
|Fund balances at 6 April 2024||6,430,812|6,314,571|
|**Fund balances at 5 April 2025**||6,378,128|6,430,812|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 5 APRIL 2025**_
|**Notes**
**Fixed assets**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
**Net current assets**
**Total assets less current liabilities**
**The funds of the Charity**
Unrestricted funds
**13**|**2025**
**£**
**£**
3,812,177
-
2,569,371
2,569,371
(3,420)
2,565,951
6,378,128
6,378,128
6,378,128|**2024**
**£**
**£**
3,812,177
1,559,374
1,062,561
2,621,935
(3,300)
2,618,635
6,430,812
6,430,812
6,430,812|**2024**
**£**
**£**
3,812,177
1,559,374
1,062,561
2,621,935
(3,300)
2,618,635
6,430,812
6,430,812
6,430,812|
|---|---|---|---|
||||6,430,812|
||||6,430,812|
||||6,430,812|
3/2/2026
The financial statements were approved by the Trustees on .........................
.............................. R J Mackie **Trustee**
- 6 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **1 Accounting policies**
## **Charity information**
The Catherine Wines Charitable Trust is an unincorporated charity registered in England and Wales. The registered office is 3 Lincoln's Inn Fields, London, WC2A 3AA.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's governing document, 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 (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Resources expended are recognised in the period in which they are incurred and accounted for on an accruals basis.
Grants payable are included when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all conditions. Grants approved by not paid at year end are accrued. Grants where the beneficiary has not been informed or has not met certain conditions before the grant is released are not accrued but noted as a financial commitment at year end.
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## **THE CATHERINE WINES CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **1 Accounting policies**
## **(Continued)**
Governance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements.
## **1.6 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
## **1.9 Accumulated funds**
Unrestricted funds represent those monies which are freely available for application towards achieving the charitable purpose that falls within the Charity's objectives.
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## **THE CATHERINE WINES CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **2 Income from donations and legacies**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Legacies|5,355|176,074|
|**3**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|41,007|29,470|
|**4**|**Charitable activities**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Charitable expenditure (see note 5)|80,000|72,666|
||Governance costs (see note 6)|19,046|16,637|
|||99,046|89,303|
|**5**|**Charitable expenditure**|**2025**|**2024**|
|||**£**|**£**|
||**_Donations to institutions_**|||
||_Pancreatic Cancer UK_|80,000|50,000|
||Legal fees relating to legacies income|-|21,666|
|||80,000|71,666|
- 9 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **6 Support costs allocated to activities**
|Accountancy
Legal and professional
Bank charges
Subscription|**Total**
**2025**
**£**
3,420
14,922
362
342
19,046|**Total**
**2024**
**£**
3,300
12,660
362
315|
|---|---|---|
|||16,637|
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
## **8 Employees**
There were no employees during the year.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Fixed asset investments**
|||**Unlisted**|
|---|---|---|
|||**investments**|
|||**£**|
|**Cost or valuation**|||
|At 6 April 2024 & 5 April 2025||3,812,177|
|**Carrying amount**|||
|At 05 April 2025||3,812,177|
|At 05 April 2024||3,812,177|
|**Debtors**|||
||**2025**|**2024**|
|**Amounts falling due within one year:**|**£**|**£**|
|Other debtors|-|1,559,374|
## **11 Debtors**
- 10 -
## **THE CATHERINE WINES CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **12 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Accruals and deferred income|3,420|3,300|
## **13 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|General funds
**Previous year:**
General funds|**At 6 April**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
6,430,812
46,362
(99,046)
**At 6 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
6,314,571
205,544
(89,303)|**At 5 April**
**2025**
**£**
6,378,128|
|---|---|---|
|||**At 5 April**
**2024**
**£**
6,430,812|
## **14 Related party transactions**
At the balance sheet date the charity held investments valued at £3,812,177 in companies connected to some of the trustees.
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