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2025-04-05-accounts

Charity commission number: 220473

THE MICHAEL MARSH CHARITABLE TRUST

UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025

THE MICHAEL MARSH CHARITABLE TRUST

Contents

Page

1 Legal and administrative information 2-4 Trustees’ report

5-6 Independent Examiner’s report to the Trustees 7 Statement of financial activities 8 Balance sheet

9-16 Notes to the financial statements

THE MICHAEL MARSH CHARITABLE TRUST

(created by a Deed of Declaration of Trust made on 18 August 1958 by Michael Leo Marsh who died 12 February 1993)

LEGAL AND ADMINISTRATIVE INFORMATION

Registered Charity Number 220473 (England & Wales)

Trustees Peter Gary Barber
Lee Nuttall
Susan Lynn Bennett
Address c/o Pear Tree Cottage
Yarrington Road
Alfrick
Worcestershire
WR6 5EX
Telephone: 07812 743 485
Bankers Cater Allen
2 Triton Square
London
NW1 3DU
Solicitors Mills & Reeve LLP
78-84 Colmore Row
Birmingham
B3 2AB
Independent Examiner David Hoose FCA
Forvis Mazars LLP
First Floor
Two Chamberlain Square
Birmingham
B3 3AX
Investment Advisors Canaccord Genuity Wealth Management
Slip House
Princes Drive
Worcester
WR1 2PG

Page | 1

THE MICHAEL MARSH CHARITABLE TRUST

TRUSTEES' REPORT YEAR ENDED 5 APRIL 2025

The trustees present their report along with the financial statements of the Charity for the year ended 5 April 2025.

CONSTITUTION AND OBJECTS

The Trust was created by a Deed of Declaration of Trust made by Michael Leo Marsh on 18 August 1958. Mr Marsh died in 1993 and the Trust was named in his Will as the residuary beneficiary of his estate. Mr Marsh’s wife died in 2001 and she had a life interest in a fund which reverted to the Charity on her death. These funds were added on 30 January 2002.

The Deed provides that the Trust Fund shall be held by the Trustees “upon trust to pay or apply the income of the Trust Fund and such parts of the capital thereof… as they shall from time to time think fit to or for such charitable institutions and charitable purposes and in such shares and proportions as… the Trustees shall from time to time in their absolute discretion determine.” The Deed also provides that the Trust shall be known as “The Michael Marsh Charitable Trust”.

ORGANISATION

The Trustees who have served during the year and since the year end are set out on page 1. The Trustees have the power of appointing new trustees. The Trustees meet at approximately 4 times a year to consider applications.

When a new trustee is appointed, they will be briefed on their legal obligations under the charity and company law and informed of the Charity’s memorandum and articles of association, the decision-making process and the financial position. Any relevant training is provided as required depending on the needs of the individual trustee.

The day to day management of the charity is carried out by the Clerk to the Trust, by whom all applications for grants are co-ordinated and presented to the Trustees, together with all financial information at Trustees’ meetings.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.

ACHIEVEMENTS

The Trustees awarded grants totalling £312,370 during the course of the financial year but withdrew a pledge of £350,000 to the University of Birmingham, listed individually on pages 12-16.

GRANT-MAKING POLICY

The Trustees’ policy regarding donations is as follows:

  1. Grants are made to charities working in areas of Birmingham, Staffordshire, Worcestershire, Warwickshire, Coventry, Wolverhampton and associated towns in the Black Country.

  2. The Trustees do not consider applications for support from individuals, although they will consider applications submitted by charitable institutions on behalf of individuals.

Page | 2

THE MICHAEL MARSH CHARITABLE TRUST

TRUSTEES' REPORT YEAR ENDED 5 APRIL 2025

  1. The Trustees do not look to contribute to operating costs that could be met out of State resources.

  2. The following types of charities are not normally considered for grants:

  3. Animal

  4. Entertainment

  5. The Trustees seek to make a roughly equal division of funds between charities concerned with old people, children, the disabled, the poor and educational needs.

RESERVES POLICY

In the light of letters of wishes written by Mr Marsh during his lifetime, the Trustees consider the investments and cash transferred to the Charity by Mr Marsh, his estate and Mrs Marsh’s fund to be expendable endowment. The Trustees aim to spend all current income each year. The Trustees do not consider it appropriate to hold any level of income reserves. Endowment reserves at 5[th] April 2025 were £2,912,564 (2024: £2,943,074)

INVESTMENT POLICY AND PERFORMANCE

The Trustees have wide investment powers. These are set out in the Trust Deed as follows: “Money liable to be invested hereunder may be paid or applied in the purchase of or in lending upon the security of any form of property whatsoever or wheresoever as if the Trustees were absolute owners thereof and whether or not the making of such payment or application amounts strictly to the investment of the money so paid or applied.”

The Charity’s investment strategy is to maintain a balance between income generation and capital growth. The Trustees accept a moderate level of risk in pursuing this objective and this level of risk is defined in the agreement with the Charity’s investment managers.

As at 5 April 2025, the portfolio was valued at £2,969,506 including cash held with the investment manager. Within this year, there were withdrawals amounting to a total value of £205,000. After taking this into account, the portfolio fell by 6.23% compared to the FTSE 100 Index which rose by 1.82%.

RISK MANAGEMENT

The Trustees have reviewed the major risks to which the Charity is exposed, in particular those relating to operations and finances, and are satisfied that the systems are in place to mitigate exposure to those risks.

The major potential risks are theft, losses due to bad investments and fraudulent applications.

The Charity’s investments are managed by a reputable firm of investment managers, currently Canaccord Genuity Wealth Management and the Trustees have an agreement in place with them which sets out the terms upon which they manage the investments and a detailed Statement of Guidance which sets out the Trustees’ investment policy and attitude towards the risk and risk management. Canaccord Genuity Wealth Management report quarterly on 30 June, 30 September, 31 December and 31 March respectively.

Cash is held in two places (in the name of the Charity); Trustees’ accounts at Cater Allen Bank and a Deposit Account at Canaccord Genuity Wealth Management. No physical cash is held and funds are paid by bank transfer or by cheque, each payment requiring the appropriate authorised signatories. Bank transfers need approval by two authorised signatories. All trustees are authorised signatories.

Page | 3

THE MICHAEL MARSH CHARITABLE TRUST

TRUSTEES' REPORT YEAR ENDED 5 APRIL 2025

Regarding the grant making procedure, applications are reviewed by the Trustees on a quarterly basis. Cheques and/or transfer requests are then made in favour of the successful applicants and circulated between the Trustees for their signatures. Bank transfers are authorised by the Trustees directly with Cater Allen Bank. Each successful applicant is asked to acknowledge safe receipt of their payments. A bank reconciliation exercise is carried out on a quarterly basis before each Trustees’ meeting.

TRUSTEES’ RESPONSIBILITES IN RELATION TO THE FINANCIAL STATEMENTS

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping accounting records which 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. They are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 24/08/2025

…………………………………. Lee Nuttall (Aug 24, 2025 13:17:09 GMT+1) L Nuttall

Page | 4

THE MICHAEL MARSH CHARITABLE TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 5 APRIL 2025

I report on the financial statements of the charity for the year ended 5 April 2025, which are set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:

Page | 5

THE MICHAEL MARSH CHARITABLE TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

YEAR ENDED 5 APRIL 2025

I have no concerns and have come across no other matters in connection with the examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

David Hoose (Aug 25, 2025 19:07:00 GMT+2)

David Hoose FCA Forvis Mazars LLP Two Chamberlain Square, Birmingham, B3 3AX

Date: 25/08/2025

Page | 6

THE MICHAEL MARSH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2025

Note
Income
Investment Income
2
Expenditure
On charitable activities
3
Exceptional expenditure – grant
withdrawn
3
Net income/(expenditure) before
(losses)/gains on investments
Transfer to Endowment Funds
Transfer of Assets
4
Gains /(losses) on investments:
6
Net income /(expenditure) and
movement in funds
Balances brought forward at 6th April
2024
Balance carried forward at 5th April
2025
Unrestricted
Funds
Endowme
nt Funds
Total
Funds 2025
Total
Funds 2024
£
£
£
£
125,515
-
125,515
126,157
(340,475)
-
(340,475)
(560,305)
350,000
350,000
135,040
-
135,040
(434,148)
(135,040)
135,040
-
-
4,648
4,648
23,419
-
(170,198)
(170,198)
234,197
-
(30,510)
(30,510)
(176,532)
-
2,943,074
2,943,074
3,119,606
-
2,912,564
2,912,564
2,943,074

The notes on pages 9-16 form part of these accounts.

All of the above results are derived from continuing activities. All gains and losses in the year are included in the above.

Page | 7

THE MICHAEL MARSH CHARITABLE TRUST

BALANCE SHEET AS AT 5 APRIL 2025
Note
2025
£
Fixed Assets
Quoted Investments
6
2,953,537
2,953,537
Current Assets
Cash on Current account at bank
32,067
Cash on Deposit at Stockbrokers
15,969
48,036
Liabilities
Amounts falling due within one year
7
39,009
Net Current Liabilities
9,027
Total Assets less Current Liabilities
2,962,564
Liabilities
Amounts falling due after more than one
year
8
50,000
Total Assets less Total Liabilities
2,912,564
Funds
Endowment
2,912,564
BALANCE SHEET AS AT 5 APRIL 2025
Note
2025
£
Fixed Assets
Quoted Investments
6
2,953,537
2,953,537
Current Assets
Cash on Current account at bank
32,067
Cash on Deposit at Stockbrokers
15,969
48,036
Liabilities
Amounts falling due within one year
7
39,009
Net Current Liabilities
9,027
Total Assets less Current Liabilities
2,962,564
Liabilities
Amounts falling due after more than one
year
8
50,000
Total Assets less Total Liabilities
2,912,564
Funds
Endowment
2,912,564
BALANCE SHEET AS AT 5 APRIL 2025
Note
2025
£
Fixed Assets
Quoted Investments
6
2,953,537
2,953,537
Current Assets
Cash on Current account at bank
32,067
Cash on Deposit at Stockbrokers
15,969
48,036
Liabilities
Amounts falling due within one year
7
39,009
Net Current Liabilities
9,027
Total Assets less Current Liabilities
2,962,564
Liabilities
Amounts falling due after more than one
year
8
50,000
Total Assets less Total Liabilities
2,912,564
Funds
Endowment
2,912,564
67,815
1,764
2024
£
3,354,718
2,953,537
9,027
3,354,718
(336,644)
48,036
39,009
69,579
406,223
2,962,564
50,000
3,018,074
75,000
2,912,564 2,943,074
2,912,564 2,943,074

The financial statements were approved by the Trustees on 24/08/2025

Lee Nuttall (Aug 24, 2025 13:17:09 GMT+1) L Nuttall

…………………………………………

Page | 8

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

1. ACCOUNTING POLICIES

a) Basis of Preparation

These financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP (FRS 102 Section 1A)), in accordance with the Financial Reporting Standard (FRS) 102 Section 1A and the Charities Act 2011. These financial statements are prepared under the historical cost convention, as modified by the revaluation of listed investments to market value. The Michael Marsh Charitable Trust meets the definition of a public benefit entity under the Charities SORP.

b) Assessment of going concern

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the Trustees’ annual report for more information).

c) Judgements and estimations

Management has not made any significant judgements in the process of applying the accounting policies and there are no areas of estimation that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

d) Cash flow exemption

A statement of Cash Flows has not been produced as the charity is within the small charity thresholds under Financial Reporting Standard (FRS) 102 Section 1A.

e) Income

Income is included in the financial statements on the accruals basis, and is gross of any tax recoverable. All income arose in the United Kingdom.

f) Expenditure

Expenditure is recorded on the accruals basis. The cost of irrecoverable value added tax is included with the expense item to which it relates. The administration and management expenses represent the cost of the general administration functions of the Charity including the cost of administering the grant giving process and the investment management charges. Grants payable are recognised as liabilities when they have been approved by the trustees. In the unusual event that an approved grant is later withdraw this will be reversed through the expenditure. Governance costs are made up of Independent Examiner’s fees.

g) Listed Investments

Listed investments are included in the accounts at a value based on their mid-market prices at the balance sheet date.

Unrealised gains or losses are recognised in the year in accordance with the provisions of SORP.

Page | 9

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

h) Financial Instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised by transaction value and subsequently measured at their settlement value.

i) Funds

The Endowment fund represents the whole value of the fund which the Trustees consider is available to them for general grant making in accordance with the policy agreed by the Trustees.

2. INVESTMENT INCOME

Bank interest
Dividend receivable
3. CHARITABLE ACTIVITIES
Grants awarded (as schedule pages 12-15)
Pledged grant withdrawn
Management and Administration Costs
Administration costs
Investment management fees
Governance Costs
Independent examiner’s fees
2025
£
222
125,293
125,515
2025
£
312,370
(350,000)
5,676
19,609
2,820
(9,525)
2024
£
430
125,157
126,157
2024
£
533,700
-
5,760
18,145
2,700
560,305

4. TRANSFER OF ASSETS

The trust has received a further £4,648 (2024: £23,419) from the Stanley Smith Memorial Trust. This is considered to be an expendable endowment. These funds will be managed in the same way as the trust’s existing assets.

5. TRUSTEES’ REMUNERATION

The Trustees receive no remuneration and do not claim any expenses.

The Charity has no employees and therefore there are no staff costs.

Page | 10

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

6. QUOTED INVESTMENTS

Market value brought forward
Disposals
Acquisitions
Gain /(Loss) on investments

Market value carried forward
Cost at year end
2025
£
3,354,717
(535,486)
304,504
(170,198)
2,953,537
1,969,898
2024
£
3,089,098
(326,289)
357,711
234,197
3,354,717
2,171,770

At 5 April 2025 the following holding was valued above 5% of the total value of the investment portfolio.

Value (£) % of Portfolio
UK Treasury Gilt 4.25% SNR BDS 07/12/2027 236,091 7.99%
JP Morgan Global Growth & Income 226,550 7.67%
UK Treasury Gilt 4.5% BDS 07/06/2028 180,629 6.12%
Scottish Mortgage Investment Trust 177,882 6.02%

7. LIABILITIES – amounts falling due within one year

Independent examination fees
Investment management fees
Administration fees
Grants committed to:
University of Birmingham (Cancer Research)
University of Warwick (IntoUniversity)
Vintage Trains
2025
£
2,820
4,620
1,568
-
25,000
5,000
39,008
2024
£
2,700
5,078
945
350,000
25,000
-
406,223

Page | 11

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

8. LIABILITIES – amounts falling due after more than one year

Grants committed to:
University of Warwick (IntoUniversity)
2025
£
50,000
50,000
2024
£
75.000
75,000

9. RELATED PARTY TRANSACTIONS

There are no related party transactions during the year ended 5[th] April 2025 or the prior year.

10. GRANTS MADE DURING THE YEAR ENDED 5 APRIL 2025

2025 2024
£ £ £ £
Children / Young People
15th Walsall (2nd Brownhills) Scout Group 2,000 -
38th Walsall Scout Group - 950
Acorns Children's Hospice Trust 2,000 -
B:Music - 3,500
Beyond the Horizon Charity 2,570 -
BID Services 3,000 2,500
British Disabled Angling Association 1,000 1,000
Carers Trust Heart of England - 1,000
Childhood Eye Cancer Trust 3,000 -
City Year UK 2,500 -
Cyclists Fighting Cancer 2,500 3,000
ecobirmingham 2,000 2,000
Edward's Trust - 1,000
Ex Cathedra 2,000 -
Free@Last 20,000 2,000
Funkykids - 1,000
Grace Kelly Childhood Cancer Charity - 2,000
Highly Sprung Performance 2,000 -
Howley Grange Scout Group - 3,000
Insight CCS 3,000 -
KIDS - 7,000
Kids Like Us - 1,000
Let Us Play 2,000 -
Martineau Gardens - 2,000
NAYC/Pioneer Centre 5,000 -
Over the Wall 2,500 3,000
Place2Be - 2,000

Page | 12

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

Prison Fellowship
1,000
Railway Children
5,000
Read for Good
2,500
Saltmine Trust
-
Sandwell Asian Development Association
1,000
Sensory People
1,500
Severn Arts
2,000
Sport 4 Life UK
2,750
Sudden Productions
1,000
Tall Ships Youth Trust
-
The Birmingham Boys and Girls Union
-
The Friendship Project for Children
-
The Haven, Wolverhampton
-
The Open University
-
The Prince's Trust
-
Thrive
3,000
Tiny Tim's Children's Centre
3,000
YOU WM
-
Education / Training
MacIntyre
3,500
New College Worcester
1,500
Oak Tree Farm Rural Project
5,000
Orchestra of the Swan
3,000
Panathlon Foundation
-
Prisoners' Education Trust
2,500
The Jericho Foundation
-
The Royal National College for the Blind
5,000
Universify Education
2,500
University of Birmingham
100,000
University of Birmingham (Cancer Research)
(350,000)
West Midlands Quaker Peace Education Project
2,000
Wildgoose Rural Training
5,000

-

-

-

5,000

1,000

1,500

-

2,500

1,000

1,000

1,100

1,500

1,000

3,000

2,500

-

1,500

5,000
79,820

-

-

-

-

1,250

2,500

2,000

-

-

-

350,000

2,000

2,000
(220,000)

















65,550












359,750

Elderly / Old People

Page | 13

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

Age UK Birmingham
-
Armonico Consort
2,000
Birmingham Care Group
1,000
Dementia UK
-
Heart of England Mencap
-
KEMP Hospice
5,000
VASA
-
General Charitable Purposes
291 Community Association
2,000
Acacia Family Support
1,500
Ashiana Community Project
2,000
Birmingham Cathedral Chapter
-
Birmingham Hospice
-
Birmingham Samaritans
-
CleanupUK
1,500
Corpus Christi Church
5,000
Crimestoppers Trust
-
Cruse Bereavement Support Worcestershire
-
Great Malvern Priory
-
Home from Hospital Care
-
Katharine House Hospice
1,750
Kingswood Trust
-
Kingswood Trust
3,000
Midlands Air Ambulance
2,500
PCC of Parish of St James, Fletchamstead
3,000
Primrose Hospice
1,000
Samaritans of Walsall & District
5,000
SSAFA, the Armed Forces Charity
-
St Germain's Wellbeing
1,500
St Luke's Gas Street Church
-
Staffordshire Search & Rescue Team
-
Support Through Court
-
The Compassionate Friends
-
University Hospitals Birmingham Charity
3,000
Vintage Trains
5,000
Wellbeing of Women
3,000
Worcestershire Acute Hospital Charity
-

2,500

-

-

1,500

10,000

2,500

1,500
8,000

-

1,500

-

(5,000)

5,000

1,500

-

-

2,500

1,500

7,500

2,500

-

3,000

-

-

-

-

-

2,500

-

5,000

2,000

1,000

1,500

-

-

-

1,000
40,750






18,000




























33,000

Page | 14

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

People with Disability
Bipolar UK
1,500
Birmingham Disability Resource Centre
2,000
Birmingham PHAB Camps
2,500
Birmingham Royal Ballet
2,500
Brainstrust
2,000
Contact
-
Coundon Care at Allesley Park
-
CROW - Coventry Recycling of Waste
450
Designability
-
Family Care Trust
-
Frozen Light
2,000
Horatio's Garden
-
Kings Community Church
-
Motor Neurone Disease Association
-
Muscular Dystrophy Support Centre
-
NICE
1,200
Special Olympics City of Birmingham
450
The Sequal Trust
2,000
Unique - Rare Chromosome Disorder Support Group
-
Walsall Society for the Blind
1,200
Warwickshire Wheelchair Basketball Academy
3,000
Relief of Poverty
Bethel Health and Healing Network
-
Birmingham Community Healthcare NHS Foundation
Trust General Charity
-
Coventry Foodbank
-
Fareshare Midlands
-
FoodCycle
2,500
Independent Age
-
Joining Communities Together
-
Ladywood Community Project
5,000
Life 2009
1,000
Life Centre Stourbridge
3,000
Maggs Day Centre
5,000
Norton Hall Children and Family Centre
2,000
Refuge
1,000
Refugee and Migrant Centre
500
Rock UK Adventure Centres
1,000
Sandwell Homeless and Resettlement Project
-

1,500

1,000

-

2,500

-

1,000

1,000

-

6,000

2,100

-

1,000

2,000

1,500

2,000

-

-

1,000

1,500

-

-
20,800

2,500

1,500

5,000

5,000

2,500

1,500

2,000

2,500

-

-

-

-

-

-

-

1,200




















24,100















Page | 15

THE MICHAEL MARSH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025

Spitfire Advice and Support Services
5,000
St Anne's Hostel
-
St Basil's
2,000
St Paul's Hostel
5,000
The Poppy Factory
-
The Royal Agricultural Benevolent Institution
-

3,000

2,000

-

-

2,500

2,100
33,000
(37,630)





33,300
533,700

Page | 16