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2025-09-14-accounts

Trustees’ Annual Report for the period

From 06 April 2024 To 14 September 2025

Charity name: Frederick George Dray, Residuary Estate Trust Charity registration number: 211443

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The objectives of the charity are in
perpetuity to pay or to apply the income
from the trust fund for the benefit of the
following charities, in equal proportions;
•
Dr Barnardo’s Homes
•
Lord Mayor Treloar’s Cripples
Hospital (now known as Treloar
Trust)
•
Spurgeon’s Orphan Homes
Stockwell (now known as
Spurgeon’s )
•
West London Hospital,
Hammersmith (now known as
Imperial Health Charity)
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 £30,183.
•
Imperial Health Charity
•
Barnardo's
•
Treloar Trust
•
Spurgeons

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 In addition to the free reserves the charity
has bank balances of £26,913 (2024:
£22,297)
and
investments
valued
at
£1,615,293
within
the
expendable
endowment fund which can be released to
support the activities of the charity.
The charity also holds a restricted fund with
a bank balance of £19 and a portfolio
investments valued at £2,561
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 £20,264 (2024: £171).
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 Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any social investment policy adopted A description of the principal Para 1.46 risks facing the charity Expendable endowment funds are those which are required to be invested to produce Other 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 Structure, Governance and Management and Management
Description of charity’s
trusts:
Type of governing document Para 1.25 Will dated 14 October 1941
How is the charity Para 1.25 Trust
constituted?
Trustee selection methods Para 1.25 Trustees are appointed by the trustees from
including details of any time to time.
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees
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:
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 for any expenses in the
year under review.
HSBC
was
paid
£1,556
for
trust
administration and investment management
fees during the year under review. These
fees are authorised under clause 2 of the
trust deed.
Other

Reference and Administrative details

Charity name Frederick George Dray, Residuary Estate Trust
Other name the charity uses None
Registered charity number 211443
Charity’s principal address Ludlow Trust Company (Southampton) Limited, Yarmouth
House, 1300 Parkway, Solent Business Park, Whiteley, PO15
7AX

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
Company
(Southampton)
Limited		 01/03/2025

– Corporate trustees names of the directors at the date the report was approved Director name Gary St John Collins Walter Duncan Coxon 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)

Type of adviser
Name
Address		 Type of adviser
Name
Address		 Type of adviser
Name
Address
Investment Managers HSBC 1 Centenary Square, Birmingham, B1
1HQ.
Bankers HSBC UK Bank PLC 1 Centenary Square, Birmingham, B1
1HQ.
Accountants Charter Tax Consulting
Limited		 8th Floor, 1 Southampton St, London
WC2R 0LR
Independent Examiner Geoff Frost 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) Christopher Thurlow
Position (eg Secretary, On behalf of Ludlow Trust
Chair, etc) Company (Southampton)
Limited (Trustee)
Date 31 March 2026
----- End of picture text -----

Frederick George Dray, Residuary Estate Trust Frederick George Dray, Residuary Estate Trust Frederick George Dray, Residuary Estate Trust 211443 211443 CC16a
For the period
from		 06/04/2024
Period start date		 To 14/09/2025
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
64,881
902
-
65,783
-
-
-
65,783
30,183
-
382
2,796
64
-
33,425
-
-
-
33,425
32,358
- 12,265
171
20,264		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4
15
19		 Endowment
funds
to the nearest £
-
-
-
-
945,022
-
945,022
945,022
-
1,175
-
-
-
-
1,175
951,492
-
951,492
952,667
- 7,645
12,261
22,297
26,913		 Total funds
to the nearest £
64,881
902
-
65,783
945,022
-
945,022
1,010,805
30,183
1,175
382
2,796
64
-
34,600
951,492
-
951,492
986,092
24,713
-
22,483
47,196		 Last year
to the nearest £
Income from investments 64,881 -
Interest received 902 -
- -
Sub total(Gross income for
AR)		 65,783 51
A2 Asset and investment sales,
(see table).
Sale of investments - -
- -
Sub total - -
Total receipts
A3 Payments
51
Grants awarded 30,183 -
Investment Manager Fees - -
Trust administration fees 382 -
Independent Examiners fees 2,796 -
Reimbursed Grave Visit Expense 64 -
- -
**Sub total ** 33,425 -
A4 Asset and investment
purchases, (see table)
Investmentpurchases - -
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
-
32,358 - - 7,645 24,713 51
- 12,265 4 12,261 - -
171 15 22,297 22,483 22,432
20,264 19 26,913 47,196 22,483

CCXX R1 accounts (SS)

31/03/2026

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
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Capital account
Income account
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Details
Investment portfolio
Investment portfolio
Details
Details		 Unrestricted
funds
to nearest £
-
20,264
-
20,264
OK
Unrestricted
funds
to nearest £
-
-
-
-
-
-
Fund to which
asset belongs
Endowment
Restricted
Fund to which
asset belongs
Fund to which
liability relates		 Restricted
funds
to nearest £
19
-
-
19
OK
Restricted
funds
to nearest £
-
-
-
-
-
-
Cost (optional)
-
-
-
-
-
Cost (optional)
-
-
-
-
-
-
-
-
-
Amount due
(optional)
-
-
-
-		 Endowment
funds
to nearest £
26,913
-
-
26,913
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,615,293
2,561
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
-
-
-
-

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

Signature

Date of Print Name approval Christopher Thurlow on behalf of Ludlow Trust Company (Southampton) 31 March 2026 Limited (Trustee)

CCXX R2 accounts (SS)

31/03/2026

2

Independent Examiner's Report to the Trustees of Frederick George Dray, Residuary Estate Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 14 September 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.

31 March 2026 Geoff Frost BSc (Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY