Charity registration number: 211941
Charlotte Marshall Charitable Trust
Annual Report and Financial Statements for the Year Ended 5 April 2025
Manningtons J T Straughan 8 High Street Heathfield East Sussex TN21 8LS
Charlotte Marshall Charitable Trust
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Contents
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|---|---|---|---|---|---|
|Reference|and|Administrative|Details|1|
|Trustees' Report|2to3|
|Statement|of Trustees’|Responsibilities|4|
|Independent Examiner's|Report|5|
|Statement|of Financial|Activities|607|
|Balance|Sheet|8|
|Notes|to the Financial|Statements|9|to|18|
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Charlotte Marshall Charitable Trust
Reference and Administrative Details
| Trustees | KBPage |
|---|---|
| JM Russell | |
| J Cosgrave | |
| Charity Registration Number | 211941 |
| Principal Office | C/o Marshall-Tufflex Limited |
| §5-65 Castleham Road | |
| Castleham Industrial Estate | |
| St. Leonards on Sea | |
| TN38 9ONU | |
| Independent Examiner | Manningtons |
| J TFStraughan | |
| 8 High Street | |
| Heathfield | |
| East Sussex | |
| TN2i 8LS | |
| Solicitors | Barwells Independent FinancialManagement Services 6Hyde Gardens |
| Eastbourne | |
| BN2i 4PN | |
| Bankers | CaterAllen |
| 9 Nelson Street | |
| Bradford | |
| BD1SAN |
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Charlotte Marshall Charitable Trust
Trustees’ Report
The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2025.
Objectives and activities
Objects and aims
The Trust was formed to distribute funds earned on the capital of the Trust as to two thirds for educational religious or other charitable purposes for the Roman Catholics in the United Kingdom as the Trustees think just, with the balance of the income distributed for the charitable purposes in the United Kingdom all according to the Trustees discretion.
The initial endowment to be held until the termination of the Trust on a day which will expire the period of 80 years from 5 September 1962 or the period of 21 years after the death of the last survivor of the issue now living of his late Majesty King George V whichever period shall be shorter or such earlier day as the Trustees may at any time after the expiration of the period of 20 years from 5 September 1962 to be the termination date.
These funds are to be distributed for the charitable purposes at the Trustees discretion on the termination date.
The Trust invites applications from all charitable groups eligible under the objectives of the Trust, regardless of the background, gender or personal circumstances of the group and its members.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
Policy on reserves
The Trustees have agreed that £5,000 should be held in reserves in addition to the Endowment Funds to meet costs and special applications that are received.
Investment policy and objectives
The Trustees have recognised that the majority of the investments held by the Trusts are in the Marshall-Tufflex Ltd Group of companies and, therefore, have taken some steps to give some diversification. Investments made recognise the need for income with capital growth but exposing the funds to limited risk.
Structure, governance and management
Nature ofgoverning document
The Trust was constituted under a Deed of Trust dated 5 September 1962 and is a charitable trust registered with the Charity Commission. The Trust is managed by a Board of Trustees whose details are shown on page I with the other administrative details. The power of appointment of new Trustees, rests with the survivors of the settlors.
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Recruitment and appointment oftrustees
Appointment of Trustees is made in accordance with the terms of the Trust Deed. Potential new Trustees are selected on the recommendation of current Trustees.
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Charlotte Marshall Charitable Trust
Trustees’ Report (continued)
Induction and training oftrustees
All current Trustees are familiar with the work of the Charity and in addition some have professional or lay knowledge of the operation of Trusts and Charities.
Organisational structure
Grant applications complete a Trust Application Form with a formal request for funds which is considered by the Trustees at their first quarters meeting. Lists are prepared for payments of those grants approved and within the Trust's charitable objectives.
The Trustees also meet later in the year to consider management aspects of the Trust including considering advice received on the Trusts invested funds.
The Trust's administrative activities were carried out from the premises of the Marshall-Tufflex Ltd group of companies by members of the Company's staff.
The annual report was approved by the trustees of the charity on 23/01 (2b and signed on its behalf by:
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TrusteeK B Page
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JThileeusse 2a/t/202b
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Charlotte Marshall Charitable Trust
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other[jurisdictions.]
Approved by the trustees of the charity on 23/01 (2p and signed on its behalf by:
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T 0) |
JM Russell
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Charlotte Marshall Charitable Trust
Independent Examiner's Report to the trustees of Charlotte Marshall Charitable Trust
1 report to the trustees on my examination of the accounts of Charlotte Marshall Charitable Trust for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity trustees of Charlotte Marshall Charitable Trust 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 Charlotte Marshall Charitable Trust's accounts carried out under section 145 of the 2011 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:
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accounting records were not kept in respect of Charlotte Marshall Charitable Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination,
I have x6 concerns gx4 have come across no other matters in connection with the examination to which attention shodid be drawn jf this report in order to enable a proper understanding of the accounts to be reached. J T Straughan Manningtons
8 High Street Heathfield East Sussex TN21 8LS
pate: 22 | et [aerres \
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Charlotte Marshall Charitable Trust
Statement of Financial Activities for the Year Ended 5 April 2025
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|---|---|---|---|---|---|---|---|
|Restricted|Total|
|Unrestricted|Funds|Endowment|2025|
|Note|£|£|£|£|
|Income|and|Endowments|from:|
|Donations|and|legacies|2|45,000|-|~|45,000|
|Investment|income|3|33,884|-|-|33,884|
|Total Income|78,884|~|-|78,884|
|Expenditure|on:|
|Charitable|activities|4|(76,257)|-|-|(76,257)|
|Governance|Costs|(5,070)|-|(2,121)|(7,191)|
|Total|Expenditure|(81,327)|-|(2,121)|(83,448)|
|Realised|gains/losses|on|
|investment|assets|-|-|2,167|2,167|
|Net|(expenditure)/income|(2,443)|-|46|(2,397)|
|Gross|transfers|between|funds|100,511|(98,386)|(2,125)|-|
|Unrealised|gain/(loss) on|
|investments|202,849|-|-|202,849|
|Net movement|in|funds|300,917|(98,386)|(2,079)|200,452|
|Reconciliation|of funds|
|Total|funds|brought forward|25,358|98,386|377,525|501,269|
|Total funds|carried forward|il|326,275|-|375,446|701,721|
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The notes on pages 9 to 18 form an integral part of these financial statements. Page 6
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Charlotte Marshall Charitable Trust
Statement of Financial Activities for the Year Ended 5 April 2025 (continued)
| Unrestricted | Restricted | Endowment | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2024 | ||
| Note | £ | £ | £ | £ | |
| Income and Endowments from: | |||||
| Donationsand legacies | 45,453 | - | - | 45,453 | |
| Investment income | 3 | 32,715 | - | - | 32,715 |
| Total income | 78,168 | - | - | 78,168 | |
| Expenditure on: | |||||
| Charitableactivities | (74,505) | - | - | (74,505) | |
| Governance Costs | (4,665) | - | (1,907) | (6,572) | |
| Total expenditure | (79,170) | - | (1,907) | (81,077) | |
| Gains/losses on investment | |||||
| assets | (11,525) | 74,316 | 1,985 | 64,776 | |
| Net(expenditure)/income | (12,527) | 74,316 | 78 | 61,867 | |
| Gross transfers betweenfunds | - | 24,070 | (24,070) | - | |
| Netmovement in funds | (12,527) | 98,386 | (23,992) | 61,867 | |
| Reconciliation offunds | |||||
| Total fundsbrought forward | 37,885 | - | 401,517 | 439,402 | |
| Totalfundscarriedforward | It | 25,358 | 98,386 | 377,525 | 501,269 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 11.
The notes on pages 9 to 18 form an integral part of these financial statements. Page 7
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Charlotte Marshall Charitable Trust
(Registration number: 211941) Balance Sheet as at 5 April 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 7 | 694,397 | 490,375 |
| Current assets | |||
| Debtors | 8 | 228 | 228 |
| Cash atbank and in hand | 9 | 12,537 | 13,198 |
| 12,765 | 13,426 | ||
| Creditors: Amounts fallingduewithin oneyear | 10 | (5,441) | (2,532) |
| Net current assets | 7,324 | 10,894 | |
| Net assets | 701,721 | 501,269 | |
| Funds ofthe charity: | |||
| Endowment funds | 375,446 | 377,525 | |
| Restricted income funds | |||
| Restricted funds | is | - | 98,386 |
| Unrestricted income funds | |||
| Unrestricted funds | 326,275 | 25,358 | |
| Totalfunds | 11 | 701,721 | 501,269 |
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The financial statements on pages 6 to 18 were approved by the trustees, and authorised for issue on
Ax212l/ Zand signed on their behalfby: 9
BP , ea XW...
Trustee Trbstke 231112026
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The notes on pages 9 to 18 form an integral part of these financial statements. Page 8
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Charlotte Marshall Charitable Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value untess otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern,
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Are recognised initially at the transaction price.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual atrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights fo the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| 2 Income from donations andand legacies |
|||
|---|---|---|---|
| Unrestricted funds General |
Total 2025 |
Total 2024 |
|
| £ | £ | £ | |
| Donations and legacies; | |||
| Donations from companies, trusts and similar | |||
| proceeds | 45,000 | 45,000 | 45,453 |
| 45,000 | 45,000 | 45,453 |
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
3 Investment income
| Unrestricted | ||||
|---|---|---|---|---|
| Total | Total | |||
| General | 2025 | 2024 | ||
| £ | £ | £ | ||
| Income from dividends; | ||||
| Dividends receivablefrom other listed investments | 3,019 | 3,019 | 1,850 | |
| Dividends receivable from other unlisted | ||||
| investments | 30,865 | 30,865 | 30,865 | |
| 33,884 | 33,884 | 32,715 | ||
| 4 | Expenditure on charitable activities | |||
| Unrestricted | ||||
| funds | Total | Total | ||
| General | 2025 | 2024 | ||
| £ | £ | £ | ||
| Roman Catholic Activity | 50,839 | 50,839 | 49,670 | |
| NonRoman Catholic Activity | 25,420 | 25,420 | 24,835 | |
| 76,259 | 76,259 | 74,505 |
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
5 Grant-making
Below are details of material grants made to institutions by the
| 2025 | |||
|---|---|---|---|
| Nameofinstitution | Activity | £ | |
| Across | Roman Catholic Activity | 3,000 | |
| Catholic Children's Society (Plymouth) | 1,500 | ||
| Catholic Marriage Care Ltd | 3,600 | ||
| Catholic Union Charitable Trust | 1,000 | ||
| Father Hudsons Caritas | 1,500 | ||
| Growing Old Gracefully | {,500 | ||
| Kenelm YouthTrust | 1,375 | ||
| ThePassage | 2,000 | ||
| Plymouth Cathedral | 2,000 | ||
| Pregnancy Crisis Helpline | 1,500 | ||
| PrisonAdviceandCareTurst(PACT) | 2,000 | ||
| Providence Row | 2,500 | ||
| Restore Councselling, Training& | |||
| Related Services | 2,250 | ||
| StGemma's Hospice | 1,713 | ||
| StJohn's Hospice | 2,500 | ||
| StJoseph's HospiceHackney | 992 | ||
| StRaphael's Hospice | 2,000 | ||
| StRichards Catholic College | 5,909 | ||
| StVincents CentreElyBridge | 3,000 | ||
| StWilfred's Hospice | 2,000 | ||
| Jesuit RefugeeServiceUK | 3,000 | ||
| Wintershall CIO | 2,000 | ||
| Your Place (London) Ltd | 2,000 | ||
| 4Sight Vision Support | NonRoman | Catholic Activity | 495 |
| Amaze | 495 | ||
| Arun Counselling Service | 490 | ||
| Association ofparents and friends of | |||
| BowerGrove School | 490 | ||
| Asthma Relief | 495 | ||
| TheBognorBaptistChurch | 495 | ||
| BramberBakehouse | 490 | ||
| Cancerwise | 490 | ||
| Care for the Carers | 495 | ||
| Chestnut TreeHouse | 415 | ||
| Chichester Discesan Association for | |||
| FamilySupportWork | 490 | ||
| Children with Cancer | 490 | ||
| CityGateCommunity Projects | 490 | ||
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
| Community Advice SupportEducation | |
|---|---|
| (CASE) | 490 |
| Compaid Trust | 490 |
| Crackerjacks Childrens Trust | 495 |
| Dame Vera Lynn Children's Charity | 495 |
| DandelionTime | 490 |
| Demelza House Children's Hospice | 490 |
| Disability Challengers | 490 |
| TheDisabled Sailors Association | 495 |
| Ellenor | 495 |
| TheHeartofKentHospice | 480 |
| Hope forTomorrow | 495 |
| Hospice in theWeald | 495 |
| Jigsaw(South-East) | 495 |
| KentMultipleScierosisTherapyCentre | 490 |
| KidsCancer Charity | 490 |
| Little Gate SupportedEmployment | 495 |
| Multiple System Atrophy Trust | 490 |
| Music formemory | 300 |
| NARA TheBreathing Charity | 490 |
| OffTheFence TrustLtd | 490 |
| Rockinghorse Childrens Charity | 490 |
| Livability | 490 |
| St Catherines Hospice | 490 |
| StMichaels Hospice | 490 |
| StPeter&St James Trust | 495 |
| StWilfrids Hospice (Eastbourne) | 490 |
| StWilfrids Hospice(South Coast)Ltd | 490 |
| Sussex Association ofSpinaBifidaand | |
| Hydrocephalus | 490 |
| TeamDomenica | 495 |
| TheChurch Army | 490 |
| TheMartlets Hospice | 495 |
| TheMortimerSociety | 490 |
| The OliverCurdTrust | 400 |
| TheSaraLeeTrust | 495 |
| Time toTalkBefriending | 490 |
| Together Collective | 250 |
| TrailblazersMentoring Ltd | 490 |
| Volunteering Matters | 450 |
| WestSussex Mind | 495 |
| Winston's Wish | 495 |
| 76,259 |
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Charlotte Marshall Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
6 Taxation
The charity is a registered charity and is therefore exempt from corporation taxation.
7 Fixed asset investments
Other investments
| Listed | Unlisted | ||
|---|---|---|---|
| investments | investments | Total | |
| £ | £ | £ | |
| Cost orValuation | |||
| At 6 April 2024 | 189,095 | 301,280 | 490,375 |
| Revaluation | 2,519 | 202,597 | 205,116 |
| Additions | 22,538 | 2,125 | 24,663 |
| Disposals | (23,632) | (2,125) | (25,757) |
| At 5 April 2025 | 190,520 | 503,877 | 694,397 |
| Net book value | |||
| At 5 April 2025 | 190,520 | 503,877 | 694,397 |
| At5April2024 | 189,095 | 301,280 | 490,375 |
The Unlisted Investments were valued on the 11 September 2025 by an independent valuer due to a valuation carried out in December 2024 being incorrect.
8 Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments | 228 | 228 | |
| 9 | Cash and cash equivalents | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Cash atbank | 12,537 | 13,198 | |
| 10 | Creditors: amounts fallingdue within oneyear | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals | 5,441 | 2,532 |
Page 15
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