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2025-11-03-accounts

Trustees’ Annual Report for the period

From 04/11/2024 To 03/11/2025

Charity name: The Minekte Foundation Charity registration number: 1192552

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 Charitable or 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 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 four
grants to the following charities totalling £77,000.

The Brilliant Club

Macmillan Cancer Support

The United Kingdom Committee for
UNICEF

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

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 £7,125 (2024: £2,574).
In addition to the free reserves the charity has bank
balances of £489,028 (2024: £20,980) 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 £7,125
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
sources of funds (including
anyfundraising)		 Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facingthe 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 ofgoverningdocument Para 1.25 Trust deed dated 3rdNovember 2020
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 Settlor during his
lifetime and while he was mental capacity, 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 trainingof trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charityworks		 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 Ltd was paid £4,199 (2024:
£3,472)
for
trust
administration
and
cash
management fees during the year under review.
These fees are authorised under clause 6 of the
trust deed.
During the year under review, £150,000 (2024:
£45,310) additions received from the settlor with
£39,202(2024: £9,625) gift aid claimed.
Other

Reference and Administrative details

Charity name The Minekte Foundation

Other name the charity uses N/A
Registered charity number 1192552
Charity’s principal address Ludlow Trust Company Ltd, Tower Wharf, Cheese Lane, Bristol,
BS2 0JJ

Names of the charity trustees who manage the charity

1
2
3		 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		 Corporate trustee
Michelle Curran Settlor

– 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
N/A

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 Coutts & Co 440 Strand, London, WC2R 0QS
Bankers Coutts & Co 440 Strand, London, WC2R 0QS
Accountants Charter Tax Consulting
Limited		 8th Floor, 1 Southampton St, London
WC2R 0LR
Independent
Examiner		 James O’Rourke FCA 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

N/A

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) Chris Thurlow Position (eg Secretary, On behalf of Ludlow Trust Company Chair, etc) Limited (Trustee) Date 30 March 2026

The Minekte Foundation The Minekte Foundation The Minekte Foundation 1192552 1192552 CC16a
For the period
from		 04/11/2024
Period start date		 To 03/11/2025
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
7,624
13,179
-
-
-
20,803
-
-
-
20,803
77,000
3,952
600
247
600
82,399
-
-
-
82,399
(61,596)
66,147
2,574
7,125		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
150,000
39,202
-
189,202
344,993
-
344,993
534,195
-
-
-
-
-
-
-
-
-
-
534,195
(66,147)
20,980
489,028		 Total funds
to the nearest £
7,624
13,179
150,000
39,202
-
210,005
344,993
-
344,993
554,998
77,000
3,952
600
247
600
82,399
-
-
-
82,399
472,599
-
23,554
496,153		 Last year
to the nearest £
Income From Investments 7,624 4,993
Interest Received 13,179 7,602
Additions to trust - 45,310
Gift Aid - 9,625
- -
Sub total(Gross income for
AR)		 20,803 67,530
A2 Asset and investment sales,
(see table).
Sale Of Investments - 340,000
- -
Sub total - 340,000
Total receipts
A3 Payments
407,530
Grants Awarded 77,000 102,709
Trust Administration Fees 3,952 3,231
Independent Examiners Fees 600 -
Cash Management Fees 247 241
AccountancyFees 600 600
**Sub total ** 82,399 106,781
A4 Asset and investment
purchases, (see table)
Investment Purchases - 684,993
- -
**Sub total ** - 684,993
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
791,774
(61,596) - 534,195 472,599 (384,244)
66,147 - (66,147) - -
2,574 - 20,980 23,554 407,798
7,125 - 489,028 496,153 23,554

CCXX R1 accounts (SS)

30/03/2026

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 Section B Statement of assets and liabilities at the end of the period
Categories
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		 Unrestricted
funds
to nearest £
-
7,125
-
7,125
OK
Unrestricted
funds
to nearest £
-
-
-
-
-
-
Fund to which
asset belongs
Endowment
Fund to which
asset belongs
Fund to which
liability relates		 Restricted
funds
to nearest £
-
-
-
-
OK
Restricted
funds
to nearest £
-
-
-
-
-
-
Cost (optional)
-
-
-
-
-
Cost (optional)
-
-
-
-
-
-
-
-
-
Amount due
(optional)
-
-
-
-
-		 Endowment
funds
to nearest £
489,028
-
-
489,028
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
-
-
-
-
-

Signed by one or two trustees on behalf of all the trustees

Signature

Date of Print Name approval 30 March 2026 Chris Thurlow on behalf of Ludlow Trust Company Ltd (Trustee)

CCXX R2 accounts (SS)

30/03/2026

2

Independent Examiner's Report to the Trustees of The Minekte Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 3 November 2025.

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.

James O’Rourke FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

30 March 2026 Date