Charity Reglstrdtion Nc+. 1204125 THE DOROTHY MARY TWIGGINS CHARrrABLE TRUST TRUSTEES. REPORT AND UNAUDrrED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Preparwj by. BhorS LLP SL*wJetfield HJe 59 L(dOn Road Maidstonb Kanl ME16 8JH TW17001.1
DOROTHY MARY TWIGGINS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Settlor tk)rr)thy Mary TwhJgins Trustee8 Bracthers Twu5t CcrfporatKM) Llmlted Ichrtstophw Eriksson-Lee r8pr•9en1¥Jj Su8an McClinl(Kk Charlty number 1204125 Prlnclpal addr•ss 59 Lon(k)n Road Maklst Kent ME18WH Sollcitor¥ and accountsnts Brac*8rs LLP Somwlgld Flouse 59 Lonth)n Road MaKlsto Kent ME16 8JH Investment advl$or8 Brewn D(Aphln 12 Snlthffield SbB&t EC1A gLA Indèpendent examiner Jam8s Frand8 Ensors Incubalor 2 The Bwleydrd Enterprfse Campus Althnbury Weakl Hunllwu(knn Cambrblggshbrè PE28 4XA
DOROTHY MARY TWIGGINS CHARITABLE TRUST CONTENTS PagEt Truste6s' rewrt Indgpendenl examlnè¢s rep)rt state[nt tsf linancial advffitlbs Balance sheet Notes to lh8 aUnts 7-12
DOROTHY MARY TWIGGINS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Th& Trustees w8s8nt their rep¢NE and the unalIt8 financial statsnwnts of the charlty for tr year ènded 31 March 2025. The Iruslees havg adopted th8 WOV(SK)ns of thg Statamenl of Recommgnded Pra ISORPI 'Accounllng and Rew)rtINg by Charfties. IFRS 1021 In preparing thè annual rèport and fjnanaal statements of Ihg charty. The financlal stat8m8nts have b8en Eryared in aco)rdanc6 lh8 acwjnling pdlcA8s sel out in the notes to the arLounts and comply th th8 d)arfWs goverrmng document, Ihè Charities Act 2011 and Aothjntlng and Reporting by Ch8rftles'. Slatement of Recommended Ptadlce appli(xble to charflies prèparing thelr accounts ln acwrdance th the Financial Reng Standard aPFAb1e in Ihe UK and Republk of Iieland published in Odober 2019. Objects and a¢tlvities for the public benefit The objects aro to make donations as the tsu5tees In Ihalr dlscredon think fit to ganIsationS rggarded as charitable by the laws of Enand and Wales, In parCular to charitiès that deal wth Ihg health arKI care of aninwls. Tha wlicies adoptèd in furtherance of thèse objects are in making donatlons lo charftles Involv8d In this area. The trustees eonfirm that tlw h8ve ref8rr8d to the guidarLw contalned in th6 Chartty Commi8slon's g8n8ral guldanca on pu1¢ benefit wh8n rawewing th& tru8Y8 arml and In trf8nning futum activities and In the plann1t of futtJr6 donati(x)s and grants. hieyements and performance Thè ohatty was suceassful in maintainirwJ an approwiale lovd of invèstments to eontinua lo gengralè sufflcignt Investm1 income to malntain current grar)t makiThJ FyllcJ&s. Review of Ilnanclal posltlon and activill*s The resums for th6 perfod are set out on pag8 5. Tol81 InCe for tho pOrf1 attK)unt to £25.026 (2024: £1,278.49n. lch iThlud8d Unre5cted donBdons of £843 {2024: £1,267,e421. Durfng thè pericKI the Injsl committed £59.5CK) (2024: £2S),LNJ)} belween Ihe 7 tharities li SUPFQrts In respect ol the year anded 31 March 2025. After awounllng for othw costs. vthich anyJunle(I to £15,212024. È12.4471 for the and pottfollo managament lees Of £15,78712024: £19,697}. the funds nei deficit of £66.18312024: Surplus £996,353) beforg Inveslmgnt EM0110 galns and losses is a¢xeptabl& lo the tnjstees. Thero werg iaallsed galns and nre811s gains on the investsllenl portfollo of £9,863 And £7.122 respgdtvdy. Page 1
DOROTHY MARY TWIGGINS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ReseN•$ Ilncluding Reserves Pollcyl At 31 March 2025, Ihg eh•riWs unT8stricted rgwve5 amounted to £1.005,64512024 .' £1.054.823). The unreStrfrt fund reprèsènts the amunt availab general charitable wrpDses at the diseratlon of thè Irusloès. Th8 trustees. Inlènlion is lo kgep r6sewv98 al ¥64S suffiryent to tinue to prowde incomè which wll enablè thom to Prowde (lon8tlons lo approved applicaiiong, hawng regarf lo unfor&g8en volatility In Inv8Stm&nl markel values. Th&y botigve the reserves posluon at 31 Marth 2025 was saUsfa¢tory. 1118 the Olcy of thg charlty to ulumatety maintain Yr88' raSer Iting Ihat 818m8nl of the unrestricted r8v8nue reserve vthl¢h is r1 fundlng Inv881menis} ol approxlmatsly one yearfs runnir¥J wsts. A5 al 31 March 2025 the free reservtss of ts charfty aln1j to £2278 {2024.. £4,387). Ih8 ITuslee$ consklerthe closing lavèl a8 suffiaenl to supwyt thelr ant1Thpa1 granl rnang endlire in thè follng twelve months. Includlng any unforeseen utgenl ¢arltabl8 aWicati1. Deslgnated funds al 31 Maith 2025 tolal £1.(M.36712O24 £1,050.436)- seg 9 for detalL8. Investment policy The tTuslees h9¥8 powers ol invgslment In 8rAxxdarKe wilh the goveming instrun*nl (the charftable trust dè8dl and th8 provlslons of the Charities Acts. In conjunctlon 1th ChlS Imi8Stment thi8CYS. tho tsuslegs approach tho inve8lmenl of ndS in a cauti(ws mann&rwith the int&ntk)n of maintaining the real Wdlue of th8 capital of the fund where possie, thus prodn9 a realistic Incomg from tha capital which ¢an then b8 dlstrlbuted. Where appropriate, the truslee5 may distribut8 capitral In lu[Lherar of th8 objècts or the charity. Rlsk management Thè trusl8es have a55essed the mah)r rlsks to whlth th8 chadty Is exp)sed. and Ère salisfled that systèms aro In place to mlbgale exposure lo the major rfsks. The fur¥ls invesied and those held on deposit are subject the ¢ompllance procedures of both the charfty8 investrn1 afvlsor5 and BrChe LLP. Golng conc•m The Truste have no reason lo beli9 that the charity 11 be unae to continue opetalirMJ as a golr rKJn¢ern (able lo pay its debts and yranl (y)mmttintS as they fall du8} for a pthcKt of al least 12 months from the dale ol approving these acc(xJnts. Page 2
DOROTHY MARY TWIGGINS CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 structure, governance and management Th8 charitabl8 getlemgnl Is a wl8t8red chartty. number 1204125. and was eslaiAlshed und8r the Wlll of Dorothy Mary Twiggln5 who di8d 14 March 2Q22. It was reglslered 88 a charity wlth the Chadty Commisslon on 27 July 2023. There are ¢urr&ntty iwo corForatè trusle9s. Th trustee conslder charitabte don8tion8 on th8 basis of the objects of the charily and laklrvJ Into account appea15 recei1 durirvJ the perkyl. The Irustoes s8rvad durlng thg were.. Brachers Trust Corporatlon Umlted Susan Mcclintock The trustges indude profe$slonaLs with approptlate skiLk8 to pryty Trnage thè twust assets and apply thtw assèts in accordance the trust daed. Bra(thers Tmst Crxtx%alon LiTnited was 8ppoinled Ituslee, wlth Christopher Ertksson-Leg taking an active as a&sign&J tN*ee represontad¥g In hls capa(gty as dir8cior of Bracher8 Twsl Cortxxauon Limlt8d. Addllional or new truslees ar8 awinted by th8 &Xtsts'ry tr. Th& trust dead prowdes for a maxlnvjm of Ilve trustees. Approvéd by th8 trustees and sign1 on their baht. Chrlstopher Eriksson-LEe on behalf of Brachers Trust Corporall¢n Llmited Tru8teè Dated.. lo j (L¥U 2o£l Page 3
DOROTHY MARY TWIGGINS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DOROTHY MARY TWIGGINS CHARrrABLE TRUST I rgport lo the injstegs on my examinatton of the accounis of Ihè Mary Twiggins Charitabl& Trust for th& year ended 31 March 2025. whith arg sgt on pages 510 12. R•sponslbllltl•s and basis of rèport As the charity trusle8s of the Trust yw nSIble fvr the prepardtion oftha ac(xxJnts In aordanC0 wth thg raquir8menis of th8 CharttJ8s Act 2011 Ithg'AeVI. I rew)rt In r88pecl of my examinalion of the TrusV5 accounts carried (MA under section f45 of fhe 2011 Act ar In Catyng out My 8xarnlnation I have fotlowed all thè applScAbie Dlr8Llions gwen by the Charty Commisslon under section 14515llb) of Ihg Act. Independent examinerfs statpment I hav8 complatèd my éxarrynèlon. I conflrm that no material matters havè CO to my atlenllon in connectlon wfth tha 8xamlnatlon glvlng m8 cau98 to 18¥9 that in'any nwtertal respecl: accounting r8(x)rds wer8 mt kept in respect of the Trust os r&qulrgd by section 13D of the Act.. or 2. th8 accounts do not ac&)rd wlth thos8 re¥d$,. or 8. th9 accoun18 do not comply with the apICable requlf8mants (x)nc8ming the form and content of ants set out In the Charltbes IAcciwnts and Rep(¥ts) Regulath)n5 2008 otr than any iequlr8ment that th9 accounts glve a Inje and falrview vrt)ith 18 not a matter considered as PArt of an ind8pendent ex4mination. I hav8 no conc8rn5 and have ox)me 08 no olher m8tiers In conn8cllon wth the examinatlon to whlch &ttenllon 8hould be drawn in fhis repcft in order lo enable a [x0r urKlètslarKJlng of accounts to t* raached. James Fra1$ Ensors Incubator 2 The Boulevard EnterpTiS8 Campus Alconbury Weald Hunllngdon Cambrfdge5hlre PE28 4XA Dalod: Page 4
DOROTHY MARY TWIGGINS CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 IAARCH 2025 Unre5thcted Funds Unrestricted Funds Year ended 31 March Period endod 31 Mar¢h 2024 2025 Income from Donations 1.267,642 10,855 Dlv1dends & intsr8St 24,1&3 Tot81 Income 25.026 1,278,497 Expenditure on Charltable activities Costs ol ralslng lunds other costs 59.SLK) 15,787 15.902 250,000 19,897 12.447 Total expenditure g1.189 282,144 Net l&xndltUre)finGOme {86.1631 9%,353 other recognised galns and losvs Net galns on inv8slmenls 16,985 58.470 Nèt movemerrt in lunds {49.1781 1.054.823 Total funds brought lorwa 1.054.823 Total funds carrled forward 1.005,645 1,054.823 Page 5
DOROTHY MARY TWIGGINS CHARITABLE TRUST BALANCE SHEET AS A T 31 AqARCH 2025 31 March 2025 31 March 2024 Note$ Fixed assets Invgslments 1.Cl)3.367 1.050.436 Current assets Cash at bank and In hand 4.258 6.2B2 6.282 Credltors: amounts falllng duè within one year 11,9801 11.895 N¢t ¢LfTrent a5S¢ts 2.278 4.387 Total assets less current liabilitles 1.1x15.845 1,054,823 Represented by Unrestslcted funcls Designated fvnds General fvnd8 1.003.7 2.278 1.050.436 4.367 Totsl unrestrtcted lunds 1.(M)5.645 1,054.823 The aoUnts w ved by thè Trust¢os on Christopher Erlksson-Lee on behalf of Brathers TTUSt Corporation Llmlted Trustee Page 6
DOROTHY MARY TWIGGINS CHARrrABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies 1.1 Basis ol preparatIon The Dorothy Mary Tw£ggins Charilable Trust is a thaiity registered th th8 Charlty Commlsslon In the Unlted KirKJdom (England & Wale51 IN. 12041251. Th& address of Ihe regthr&l offlco Is Som8ffl01d House. 59 LorKlon Road. Maidstone. KenL ME16 &JH. The charily conslitules a public bfit entity as d6fined by FRS 102. The finala1 stalemgnts have been prepar8d In accordancg vAth Accwnling and Rewjrting by CharTb8s'. Slalemenl of Recommered practi applicable to charfles propartng their accounts in ac(x)rdanea with the Financial Reportlng Standard applicab in th8 UK and RepuiAic of Ireland IFRS1021 issu1 in October 2019, the Flnancial Reporting Standard aPpilble in the Unitgj Klngdom and R8wbllc ol Irdand IFRS102), the Charibes Act 2011 and UK Gen8r81ty Accepted Pracuce. The chartty ithstthrtas a public Inefit anllty as defined by the SORP. The charity ha8 Opted not to preparè a cash 8tatgrnent forthe finanryal perlryj. as permIttl by th6 2019 Statemontof PractTh. The financial Stalents hav• b8¢n prepared io glvè a Yru9 a1 and have dgpartl from the Charities (Accounts and R8portsl Regulatlons 2008 (x)ty to thg extent tpquired lo prode a and lalr view.. Thls departur& has invclved fdkA¥lro tho Accounting and Reporting by Charidgs.. Stalemgnt of Recomended Pr&cti¢8 ap[cable lo charfles preparing thgiF accounts in acLordanrA wlth the Flnandal Reporting Standard appllcabl& In ts UK and Republ ol [rend (FRS 1021 issued in October 2CTr19. The finawial ststèmants are prgpar&l a gotru ¢on¢yn bas underth8 hlstorfcal cost convention. Tnodmed to induda c6rlain items at falr valu6. The finan(ial statents ar8 pms8nt&J in sterling whlch Is the fundonal CUTrency of chlty and n)unded to the n8ar8St £. The slgnlfbxnl accountiro Fdic488 appl11 In the prepar411on of theso final31 statements are sgt owt below, Theso polides hav8 b88n consistenlly applled to all years pre8ont&J Unl Oth9Thse statad. 1.2 Income recognltlon Donations,1ogacies and 0lhorforts of vduntary Incorrts ar8 rwnlsed as Inc whgn reCeable, gxcepl Insolar as Ihgy are Ipab m&asuremenL Incom6 from Invaslments is rnISed en r1Vable. 1.3 Expendltur• recognitlon All expèndlturo is accounted for on Èn accruals basis has been dassillad undar heading8 that aggregate all costs r8lated to th8 cat8gory. Granl expendi18 h rwnised avrarded to Ihe On The expense Is Induded on an accruals basls In tho year in whlch a legal or con$lwthva obligation to pay lh& grant ari8e8. Costs of raising fijnds are thoso InVestnrt managament fees for bolh In(X generation and eapltal rnainlenancè. Charilabl¢ tivItIeS indude Oyndithre 5¢ated Mih lh8 nwklrvJ ol grants aThJ don(S and Includ? both thg dlrect ¢))sts and iwvJlr&ct ¢)Jsts relallng io thase actNllies, on an acixuals basis. Page 7
DOROTHY MARY TWIGGINS CHAR ABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 1.3 Expenditure recognltlon lcontlnil> Irrecoverablè VAT Is (arg8d against the categ)ry of rg8(xJr¢& expended for whk il ¥Yas Incurrad. 1.4 Investments Investments are recognised at fair Val 4thlch is nomlty th8 transaction prica exdudlng Iransactlon costs. Subsequentty they masured al fair vdue wlth (aroes recognised in'n6t gainslllossèsl on Inv8Stm8nls' In the SOFA Sf shares arg putAidy traded or thdr falr valu8 otheNsa b6 maasured r81iably. R8Bllsèd galns or108ses arising on disposal arg recognised in Ihe Stat8t of Flnanc&l AthiUe8 ISOFAI 4then th8 proceeds are receivaLIe. 1.5 Fund accounting The funds hdd by the charity are unrestrfcw furKls %Ich can bè used In accordance vAth th8 charitable obleclive5 al thg discfetlon ol tho Iru5tees. Oesignat•J funds o)mwlSefurS whlth have been set asklé al th8 dIscretic of tha Irtkgtoe for spaemc purpos88. The purFoses and uses of dignated fvnds ar6 s81 out In thg mtes lo tho finandal stat8m8nls. 1.6 Dtbt¢ys and ¢redltors receivablelpardble within one year Debtors and credStors wlh no stated interest rale and t1Vable or payabl8 thin one year are reCded at transactk>n pric8. Any IDsses arislNJ frotwb lmpalrThnI ara re(x)gnls8d in exponditure. 1.7 Taxallon The charity is an 8x8mptch8rity within the Tr1j of s()edule 3 of the Charttles Act 2011 and 18 con8id8r8d lo pass the tests set ryjl In Paragraph 1 Sd%dule 6 Rnance Act 2010. 1.8 Golng Concern Thg flnanclal stalemenls have be prgpared on a golrKJ con(%m basis as tho tru9tèès b8lieve that no malgwial uncertainties exist. The trustees have ccnsNJered the level of funds held and thè 8XP8Cted level of incomg and exFenditure for 12 mnlhs from authorlslng those finanaal stat&mants. They ba118V8 th8 anticipated expenditure wll bè adequaldy funded glven the ex18titvJ level of resarves for the t*iarity to b8 able to confr'nug as a going co19. 1.9 Judgements and key sources of estlmation uncertainty AUntIng estimates and ludgemenls are 1x1[U81ty evalual8d and ar& based on histCal experience and othar factors, Iding 8XP8Ctatlons of fijture events that are bell8v8d lo be reasonable under th8 dr¢umstances. P8ge 8
DOROTHY MARY TWIGGINS CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2 Legaclas arKI donations 2025 2024 Unr881rictod funds.. Donations Ilrom the estats of Dorothy Mary Twwns) 1267,642 3 Dividends and interest 2025 21r24 Income from lisled Investments Irbt8rest receivable 23,427 756 9.767 1.088 24.183 10,855 4 Expenditure 2025 2024 Charftable activities Grants to lnslibjS'. Anlm-rnate$ Boys Brfgad& Soulh East Battal Canterbury Horse Rescue Macmlllan Cancer Supp¥xi Parklnsons UK Pr05kle Cancer UK RSPCA Royal Nal'onal Lifeboat Insotution Second Chanc8 Animal Rescue Team Tutsham charft8e TNst Tha Donkey Sanctuary The Mortlmor SoThety The Pi(*grir¥J Cancer Drry> In Tha ROYBI Brfllsh L8glon 8.5LN) 8.5CK) 8.5 45,000 8,SOO 35,000 45,000 55,000 8.500 17.500 17,500 35,000 59,5 250.000 Page 9
DOROTHY MARY TWIGGINS CHARrrABLE TRUST NOTES TO THE AccouKfs (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 4 Expendliure Iconllnued) 2025 2024 Rèconclllation of grants Pable Commltmènls unpaid al 1 April 2024 Cornmlbmenls made in the period (above) Grants pard dUr1r Iho perftml 59.5C() I59.5) 250,000 {250,0001 Commilrnents unp&d al 31 March 2025 {Note 91 Costs of ralslng fund¥ Iriveslment Man8[8. fee8 15.787 19,697 15.787 19,697 Other costs Manag&m8nt, adrninlstrallon arNI accounlaw f898 Ind8p8ndenl examlnation fees 13,927 1,975 10,552 1,895 15,902 12,447 5 Trustees and rèlated party trdnsaclions None of the trusts98 Inor any porsons wnnected wilh them) petsonally receivad any remunerallon or xpenses relnur89d during th8 p8rfrrtl, in nCe wlth the tnjst In addition. the charity was chargad mar)agemenl. adminIstraUL aTKI accountaw by Brach¥ LLP 8mounting to £13,92712024- £10.5521. DurirKJ the Wrifml an assodalgd undertaknng of Biacher5 LLP, Bracers Trust CDoratiOn Lited. wa8 apFK4nled o trusteo of Ihe tharity. charged at rx)mm8rcial rates by Brachers. During tha pedod the charfty 1Ved uncondltkyl dona08 anuntsng to £84312024: £1.267.6421 from the estate ol Dorolhy Mary TwJgin$ who died on 14 March 2022. 6 Employees Th8re WgTe no empbw durfryg the parkxl. P8ge 10
DOROTHY MARY TWIGGINS CHARrrABLE TRUST NOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 7 Flxod a$t investments 202S 2024 LlstÈd investments: Markel walue at 1 April 2024 Addltlons al o)st Disposal procè8ds R8allsad gains on dSsposal$ Unrealised gainslllossesl on rwaluatlon 1.034,371 245.920 1304.4231 1,414.541 1438.6401 9.863 7,122 1,891 56,579 16.98S 58,470 992.853 10.514 1,034.371 16,06S Cash Market value at 31 March 2025 1.003.367 1,050,436 The wrtfcllo was eompriwl as folhjws: UK Bonds cerSeaS Bonds UK Equilias North Amerfcan Equlties European Equltles Japan889 Equities Develop Asla ex Japan Equlties EmèrJr ing MaTket Equib&s Global Inveslmgnts Absolute Rotum Property Commodllies other invasbnents Cash 150,309 1e1,846 140.919 223,S43 39,549 19,838 32,765 11,826 63,597 e6,033 23,967 32.436 26.225 10.514 1,003.367 Inve8tmgnts repr8$tiry mora than 5% of the trAal market value of th8 Ilsie4J invgsln)9n18 Portfolio w9r& as follows.. Robe(x> Capital FurKIs S5.274 Page 11
DOROTHY MARY TWIGGINS CHARrrABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 8 Creditors: amDunts lalllng due wlthln one year 2025 2024 Other creditors 1,9BO 1,895 1,980 1,895 9 Deslgnated funds ThE income lunds of the chaity include the fdl)wiro destgnated tunds whld) h8V8 been set aside out of unrestrtcted funds by the truslees lor speclfic purkK)s&s: 1 April New 2024 designattons DÈ5ignations released 31 MaTch 2025 Investrnent fund I,0,436 273,419 {32Q.4881 1,003.367 27 July New 2023 de5ignatlon5 Designatlons released 31 March 2024 Investment lund 1,489,076 1438,640) 1,050.436 Investment fund- these fvnds ate invgsted to maxlmkg total rebjm atNI generale Income. Pgge 12