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2025-10-31-accounts

Trustees’ Annual Report for the period

From 1[st] November 2024 To 31[st] October 2025

Charity name: The Bagheera Trust Charity registration number: 1206318

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 trust are to further such
objects or purposes which are exclusively
charitable 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:

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 grants to the following charities
totalling £49,107.
•
Headspace
•
Nucleo Project
•
The Brilliant Club
•
Institute of Cancer Research
•
UP Unlocking Potential
•
Southwark Playhouse Theatre
Company
•
Sussex Contemp Illustrators &
Printers
•
TEMWA UK
•
Bookmark Reading Charity
•
Ardent Theatre Company
•
Little Angel Theatre Charity
•
Loud N Proud
•
ACTA
•
Elayos
•
National Youth Choirs of Great
Britan
•
Lyric Theatre Hammersmith

Additional information (optional)

You may choose to include further statements where relevant about: Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 In addition to the free reserves the charity
has bank balances of £14,040 (2024:
£39,161)
and
investments
valued
at
£1,857,978
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 At the end of the reporting period the charity
had
free
reserves
of
£2,068
(2024:
£20,363).
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 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
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 Para 1.25 Trust deed dated 1 November 2023
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 trustees from
time to time.
Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant about:		 Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant about:		 Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant 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 Ltd was paid
£10,910
(2024:
£11,681)
for
trust
administration and cash management fees
during the year under review. These fees
are authorised under clause 9 of the trust
deed.
Gregor Stanley Watson is a trustee of
National Youth Choir, the grant to this
charity was approved by Ludlow Trust
Company Ltd for £5,000.
Other

Reference and Administrative details

Charity name The Bagheera Trust
Other name the charity uses None
Registered charity number 1206318
Charity’s principal address Ludlow Trust Company Limited, 1st Floor, Tower Wharf
Bristol BS2 0JJ

Names of the charity trustees who manage the charity

Trustee name
Office (if any)
Dates acted if not for whole
year
Name of person (or
body) entitled to
appoint trustee (ifany)
1Ludlow Trust
CompanyLimited
2Rhona Barbara
Tealby-Watson
Appointed 29thJanuary
2025
3Elfreda Drusilla Sarah
TealbyWatson
4Gregor Stanley
Watson
5Phoebe Tealby
Watson
Corporate trustees–names of the directors at the date the report was approved
Director name
Gary St John Collins
Duncan Walter Coxon
Ali Reza Sarikhani
Ziba Christina Sakine
Sarikhani
Christopher Ian Thurlow
Matthew John Wickers		 Trustee name Office (if any) Office (if any) Dates acted if not for whole
year		 Dates acted if not for whole
year		 Name of person (or
body) entitled to
appoint trustee (ifany)
Ludlow Trust
CompanyLimited
Rhona Barbara
Tealby-Watson		 Appointed 29thJanuary
2025
Elfreda Drusilla Sarah
TealbyWatson
Gregor Stanley
Watson
Phoebe Tealby
Watson
Director name
Gary St John Collins
Duncan Walter 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		 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 Katie Wilson Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, 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

----- Start of picture text -----
Signature(s)
Full name(s) Joanne Spiceley
Position (eg On behalf of Ludlow Trust Company
Secretary, Chair, etc) Limited (Trustee)
Date 30 March 2026
----- End of picture text -----

The Bagheera Trust The Bagheera Trust The Bagheera Trust The Bagheera Trust CC16a
For the period
from		 01/11/2024
Period start date		 To
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
3,928
5,295
-
-
-

9,223
-
-
-
9,223
49,107
-
10,852
600
58
600
-
420
61,637
-
-
-
61,637
- 52,414
34,119
20,363
2,068		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £		 Total funds
to the nearest £		 Last year
to the nearest £
Income From Investments 3,928 -
-
-
-
-
-		 3,928
5,295
-
-
-
9,223		 -
35,605
1,303,000
325,000
-
Interest Received 5,295
Additions from settlors -
Gift Aid -
-
Sub total(Gross income for
AR)
9,223		 1,663,605
A2 Asset and investment sales,
(see table).
Sale Of Investments - 5,927
-
5,927		 5,927
-
5,927		 60
-
-
~~Sub total~~ - 60
Total receipts
A3 Payments		 15,150
5,927 1,663,665

Grants Awarded		 49,107 -
827
-
-
-
-
-
-
827		 49,107
827
10,852
600
58
600
-
420
62,464		 12,500
2,400
10,156
-
1,525
-
60
2,500
Investment Manager Fees -
Trust Administration Fees 10,852
Independent Examiners Fees 600
Cash Management Fees 58
Accountancy 600
Platform service charge -
Legal Fees 420
**Sub total ** 61,637 29,141
A4 Asset and investment
purchases, (see table)

Investment Purchases		 - - 3,898
-
- 3,898		 - 3,898
-
- 3,898		 1,575,000
-
**Sub total ** - 1,575,000
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end		 58,566
- 3,071 1,604,141
- 52,414
8,998		 - 43,416
-
59,524
16,108		 59,524
34,119 - 34,119
39,161
-
-
20,363
2,068
14,040		 59,524

CCXX R1 accounts (SS)

27/03/2026

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
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Capital Account
Income Account
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Details
Investment Portfolio
Details
Details		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
2,068
-
-
-
2,068
-
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
Joanne Spiceley on behalf of Ludlow
Trust Company Ltd (Trustee)
3		 Endowment
funds
to nearest £
14,040
-
-
14,040
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,857,978
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
0 March 2026
Date of
approval
Joanne Spiceley on behalf of Ludlow
Trust Company Ltd (Trustee)		 0 March 202

CCXX R2 accounts (SS)

27/03/2026

2

Independent Examiner's Report to the Trustees of The Bagheera Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 October 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.

Katie Wilson FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

30 March 2026 Date