Charity registration number 210199 (England and Wales)
THE CHRIMES FAMILY CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE CHRIMES FAMILY CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs A Williams Mrs H Prosser Mr C S Williams Mr B Kirkham
Charity number (England and Wales)
Independent examiner
210199 Xeinadin North West Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR
THE CHRIMES FAMILY CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
THE CHRIMES FAMILY 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 trust's Deed of settlement dated 21 March 1955, 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 Trust was created by deed on 20 March 1955 by the late Sir W.B. Chrimes by whom a capital sum of £30,000 was settled at that time. Further sums totalling £30,000 were contributed in equal shares by the late Mr H.B. Chrimes and Dr H.E. Davies in 1955 and 1967. The income of the trust, and capital if thought fit, may be applied to general charitable purposes at the discretion of the Trustees.
The Trustees have reviewed whether the Trust is exposed to any major risks and believe that no action is necessary in connection therewith.
The Trustees confirm that they have given due consideration to the Charity Commission's guidance on public benefit when pursuing the Trust's objectives.
Significant activities
The Trustees have continued the policy laid down by the original Settlor, namely to distribute all the income of the Trust in the relief of poverty and distress and in the provision of funds towards projects for community welfare and the improvement of health and education. Contributions to the arts are not material.
Public benefit
The trustees are convinced that this report and the accounts clearly demonstrate that the Charity continues to meet the requirements of the Charity Acts as regards public benefit.
Achievements and performance
Financial review
The financial position is set out in the Financial Statements for the year ended 5 April 2025. These show a deficit for the year on activities of £5,315 (2024 - Surplus £2,666) there were losses on investments of £45,760 (2024 - Gains £8,002) making a total deficit for the year of £51,075 (2024 Surplus £10,668. This amount was added to the surplus funds brought forward of £1,205,501 leaving funds of £1,154,426 to be carried forward.
At 5 April 2025 the Trust's unrestricted funds included UK portfolio investments with a market value of £1,107,836 and cash deposits of £48,390.
Reserves policy
The charity intends expend all of its income on an annual basis, but has no commitments to award grants for future years. In practice a small balance is retained in the bank account of up to £5,000 to deal with any emergencies.
Proceeds from the disposal of investments are reinvested and not used to supplement income.
Investment policy and objectives
The Trustees have wide investment powers under the Trustee Act 2000 and seek to achieve a balance between income and the maintenance of capital. James Sharp & Co act as the Trust's investment advisers and the investments are held by their nominee company on behalf of the Trustees.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
- 1 -
THE CHRIMES FAMILY CHARITABLE TRUST
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs A Williams
Mrs H Prosser Mr C S Williams Mr B Kirkham
The trustees report was approved by the Board of Trustees.
.............................. Mrs A Williams
Trustee
Date: .............................................
- 2 -
THE CHRIMES FAMILY CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CHRIMES FAMILY CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of The Chrimes Family Charitable Trust (the trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the trustees of the trust 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 trust’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
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 trust 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.
Xeinadin North West Limited
46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Date: ............................
- 3 -
THE CHRIMES FAMILY 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: | |||
| Investments | 3 | 47,580 | 46,497 |
| Total income | 47,580 | 46,497 | |
| Expenditure on: | |||
| Raising funds | 4 | 2,620 | 840 |
| Charitable activities | 5 | 50,275 | 42,991 |
| Total expenditure | 52,895 | 43,831 | |
| Net gains/(losses) on investments | 9 | (45,760) | 8,002 |
| Net income/(expenditure) and movement in funds | (51,075) | 10,668 | |
| Reconciliation of funds: | |||
| Fund balances at 6 April 2024 | 1,205,501 | 1,194,833 | |
| Fund balances at 5 April 2025 | 1,154,426 | 1,205,501 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
THE CHRIMES FAMILY CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Fixed assets Investments 11 Current assets Investments 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities The funds of the trust Unrestricted funds |
2025 £ £ 1,107,836 41,887 6,503 48,390 (1,800) 46,590 1,154,426 1,154,426 1,154,426 |
2024 £ £ 1,149,021 48,936 9,194 58,130 (1,650) 56,480 1,205,501 1,205,501 1,205,501 |
2024 £ £ 1,149,021 48,936 9,194 58,130 (1,650) 56,480 1,205,501 1,205,501 1,205,501 |
|---|---|---|---|
| 1,205,501 | |||
| 1,205,501 | |||
| 1,205,501 |
The financial statements were approved by the trustees on .........................
.............................. Mrs A Williams Trustee
- 5 -
THE CHRIMES FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Deed of settlement dated 21 March 1955, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust 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
There are no restricted funds. Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
1.4 Income
Investment are included in the Financial Statements at their market value on the Balance Sheet date. Gains and losses arising on the disposal and revaluation of investments are calculated by reference to their book value, and credited or charged to the Statement of Financial Activities.
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or contractual obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
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.
- 6 -
THE CHRIMES FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
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 trust 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 trust's balance sheet when the trust 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 and bank loans 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
1.9 Taxation
The charity is exempt from tax on its charitable activities.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 7 -
THE CHRIMES FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
3 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Income from listed investments | 47,580 | 46,497 | |
| 4 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Investment management | 2,620 | 840 | |
| 5 | Expenditure on charitable activities | ||
| Grants | Grants | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Grant funding of activities (see note 6) | 48,399 | 41,193 | |
| Share of support and governance costs (see note 7) | |||
| Governance | 1,876 | 1,798 | |
| 50,275 | 42,991 | ||
| Analysis by fund | |||
| Unrestricted funds | 50,275 | 42,991 | |
| 6 | Grants payable | ||
| Grants | Grants | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants to institutions: | |||
| Community Welfare | 25,130 | 28,338 | |
| Health | 23,269 | 12,855 | |
| 48,399 | 41,193 |
-
8 -
THE CHRIMES FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
7 Support costs allocated to activities
| Governance Governance costs comprise: Accountancy Postage |
Grants 2025 £ 1,876 2025 £ 1,800 76 1,876 |
Total 2024 £ 1,798 |
|---|---|---|
| 2024 £ 1,650 148 |
||
| 1,798 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
9 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | (45,760) | 9,192 |
| Sale of investments | - | (1,190) |
| (45,760) | 8,002 |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 9 -
THE CHRIMES FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
11 Fixed asset investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 6 April 2024 | 1,149,021 |
| Additions | 4,575 |
| Valuation changes | (45,760) |
| At 5 April 2025 | 1,107,836 |
| Carrying amount | |
| At 05 April 2025 | 1,107,836 |
| At 05 April 2024 | 1,149,021 |
The historical cost of the listed investments held at 5 April 2025 was £598,098 (2024 £593,523).
12 Current asset investments
| Brokers income account 13 Creditors: amounts falling due within one year Accruals and deferred income |
2025 £ 41,887 2025 £ 1,800 |
2024 £ 48,936 |
|---|---|---|
| 2024 £ 1,650 |
14 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
- 10 -