## **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