OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-10-21-accounts

Trustees’ Annual Report for the period

From 22 October 2023 To 21 October 2024

Charity name: The Hugh Mumford Charitable Trust Charity registration number: 1192468

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 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 Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by 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 Grants totalling £15,000 were made during
the year to the following:

Downing College Cambridge

Cirencester Rugby Club

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 £235,120 (2023:
£111,803).
In addition to the free reserves the charity
has bank balances of £542,477 (2023:
£49,565)
and
investments
valued
at
£3,943,100 within the 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 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 Para 1.22 reserves Details of fund materially in Para 1.24 deficit Explanation of any Para 1.23 uncertainties about the charity continuing as a going concern

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:
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 Expendable endowment funds are those
which are required to be invested to produce
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 21 October 2020 as
amended 02 June 2021 and 04 January
2022
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 may be appointed by the settlors
jointly during their lifetime or following death
or incapacity one of them and subject to this
appointment the power to appoint is
exercisable 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
£19,847 for trust administration services
and £796 for cash management services
during the year under review. These fees
are authorised under clause 3 of the trust
deed.
Charity name The Hugh Mumford Charitable Trust
Other name the charity uses
Registered charity number 1192468
Charity’s principal address Trustee 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
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)
Hugh Mumford Settlor
Kate MaryMumford Settlor
Ludlow Trust
CompanyLimited

– 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 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		 1 Bedgebury Business Park, Forge Farm,
Goudhurst, Cranbrook, Kent, TN17 2QZ
Independent Examiner Geoffrey Frost Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, West Sussex, 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
Chris Thurlow on behalf of Ludlow
Trust Company Limited

Trustee

14 August 2025

14 August 2025
The Hugh Mumford Charitable Trust The Hugh Mumford Charitable Trust The Hugh Mumford Charitable Trust 1192468 1192468 CC16a
For the period
from		 22.10.2023
Period start date		 To 21.10.2024
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
-
-
96,184
25,000
20,661
-
-
-
141,845
-
-
-
141,845
15,000
-
19,847
180
796
-
-
-
-
35,823
-
-
-
35,823
106,022
17,295
111,803
235,120		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
1,000,000
250,000
-
-
-
-
-
-
1,250,000
3,067,184
-
3,067,184
4,317,184
-
19,613
-
-
-
-
-
-
19,613
3,787,364
-
3,787,364
3,806,977
510,207
(17,295)
49,565
542,477		 Total funds
to the nearest £
1,000,000
250,000
96,184
25,000
20,661
-
-
-
1,391,845
3,067,184
-
3,067,184
1,768,700
15,000
19,613
19,847
180
796
-
-
-
-
55,436
3,787,364
-
3,787,364
3,842,800
616,229
-
161,368
777,597		 Last year
to the nearest £
Addition to trust - 725,000
Gift Aid received - 181,250
Income from investments 96,184 64,551
Interest from debenture loans 25,000 -
Income from bank interest 20,661 11,360
- -
- -
- -
Sub total(Gross income for
AR)		 141,845 982,161
A2 Asset and investment sales,
(see table).
Sale of investments - 786,539
- -
Sub total - 786,539
Total receipts
A3 Payments
1,768,700
Grants awarded 15,000 -
Investment manager fees (including VAT) - 10,301
Trust management fees (including VAT) 19,847 21,492
Independent examiners fees 180 780
Cash management fees 796 821
- -
- -
- -
- -
**Sub total ** 35,823 33,394
A4 Asset and investment
purchases, (see table)
Investmentpurchases - 1,803,876
- -
**Sub total ** - 1,803,876
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
1,837,270
106,022 - 510,207 616,229 (68,570)
17,295 - (17,295) - -
111,803 - 49,565 161,368 229,938
235,120 - 542,477 777,597 161,368

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))
Chestnut Inns Limited Loan Note
Details
Capital account
Income account
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
235,120
-
-
-
235,120
-
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 £
542,477
-
-
542,477
OK
Endowment
funds
to nearest £
250,000
-
-
-
-
-
Current value
(optional)
3,943,100
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited		 14 August 2025

CCXX R2 accounts (SS)

13/08/2025

2

Independent Examiner's Report to the Trustees of The Hugh Mumford Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 21 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 15 August 2025 Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY