CLARKE'S & MARSHALL'S CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED ST 31 MARCH 2025 Percy Westhead & Company Chartered Accountants And Statutory Auditors Hanover House 30-32 Charfolte Street Manchester M14FD
CLARKE'S & MARSHALL'S CHARITIES CONTENTS PAGE Officers and Professional Advisers Trustees, Report Auditof s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-15 The ft>llowing pages do not fom7 part of the Accounts... Investment Schedule 16-20
CLARKE'S AND MARSHALL'S CHARITIES OFFICERS AND PROFESSIONAL ADVISERS Founded by: George Marshall George Clarke Trustees acting during the year endèd 31 March 2025 Peter Richard Higham (Chairman) Charles David Oakes (Died 141h June 2025) Alfred Henry Marinus Ston6 (Hon. Secretary, resigned from role 215t November 2024) Roderick Michael Wilhinshaw {Hon. Treasurer) Giles Hugh Joynson Gaddum Peter Anthony Nicholas Sornekh Kathryn Ann Graham (Hon. Secretary, appointed to role 21 $1 November 2024) James Christian Patrick Bailey John George McDakin Simpson Kate Victoria Lawlor Jeremy Charles Steele 1624 1636 st Address: 14 Common Lane Kelsall Tarporley Cheshire CW6 OPT Bankers: Virgin Money 6 Bridge Streel St Helens WA10 1NF Investment Managers: Rathbones Investment Management 3 Hardman Street Spinningfields Manchester M3 3HF Auditor: Percy Westhead & Company Chartered Accountants and Statutory Auditors Hanover House 30-32 Charlotte Street Manchester M14FD Charitable Status: Registered Charity Number 220728
CLARKE'S AND MARSHALL'S CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Constitution The Charities were founded by George Marshall and George Clarke in 1624 and 1636 respectively. A renewed Trust Deed was effected on 30th March 1932 and the Charities are registered with the Charity Commission, Number 220728. As the two Charities have common truslees and objectives, the Charity Commission has directed that they be treated and administered as a single Charty. The Charities, address is shown on page 1. Objectives and activities for the public benefit The purpose of Ihe Charities is the support of the needy in the Manchester area through making grants to appropriate individuals and institutions. The Trustees confimi that they have referred to the Charity Commission's guidance on public benefit when reviewing the Charities, aims and objectives, in planning future activities, and setting the grant making policy for the year. A5 in previous years the Charities further their charitable purposes by managing and receiving income from their Investments and other Assets and, from the income, making an annual contribution to the Manchester Relief In Need CIO in accordance with the Charity Commission Scheme dated 181h November 1974. Trustees and Organisation The Trustees determine the general direction and policies of the Charities at annual meetings. These policies are implemented on a day to day basis by the chairman, the treasurer and the secretsry, in conjunction with the investment advisers and discussion with the other Trustees as appropriate. Delails of the Trustees acting during the period are shown on page 1. New Trustees may be appointed by the current Trustees. Finances and Activity Details of the resulls and the Charities, state of affairs are shown on pages 8 and 9 of the Accounts. The Trustees consider these to be satisfactory and consider that the Charities have adequate resources to enable thern to continue to meet their objectives. Income Fund Investment and other income increased compared to the previous period and amounted to £77,259 {2024.' £73,997}. In furtherance of their objectives, the Charities made a contribution of £60,000 to the Manchester Relief In Need CIO {2024'. £57,500) which greatly assisted that Charity in carrying OLrt its work. At the year-end there was a surplus of income, and after taking into accounl unrealised losses arising from the revaluation of investments. the accumulated balance on Income Fund increased from £194,820 to £211,641. Ofthis balance, the sum of £76,523 represents unrealised gains on the revaluation of investments {2024'. £73,001). Capital Fund Investment management costs decreased in the year to £8,411 (2024.. £9,340), there were realised losses on disposal of £4,674 in the year and unrealised gain5 on revaluation were £14,742. As a result of this, the balance on Capital Fund at 31st March 2025 increased to £1,319,05912024'. £1,317,402) Of this balance, the sum of £587,084 represents unrealised gains on the revaluation of investments (2024.. £592,389).
CLARKE'S AND MARSHALL'S CHARITIES ST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) Investments Investment Policy Under the terms of the Charities. constitution, the Trustees have unrestrided powers of investment. In exercising these powers, the Trustees seek to achieve a balanced return to produce income to meet the annual contribution to the Manchester Relief In Need CIO, whilst at the same time achieving long tsrm capital growth to maintain the real value of the underlying fvnds. Over the year to 31 March 2025 the portfolio increased in value by 6.480k outperforming ARC and the benchmark. The income yield remained attractive at 5.20h and the equity weighting at 70Vo continues to reflect a Medium-High approach to equity exposure. Major large capitalised markets were broadly positive over the year as economies and corporales reacted with cautious optimism after political elections in the UK and US. Falling interest rates over the reporting period provided support for company valuations and improving economic conditions underpinned the Stock market performance. Overthe period underlying corporate results were encouraging as profitability and revenue remained resilient. Transactions There have been a number of investment changes during the period as detailed on the investment schedule, with a net decrease in monies invested of £12,225. The Charities have continued to retain some liquid funds to enable them to take advantage of possible investment opportunities. The total value of investments at 31 March 2025 was £1,442,676 (2024.. £1,441,311). Details regarding investments are shown in Note 7 to the Accounts and in the detailed investment schedule on pages 16 to 20. 5t Reserves Policy Income Fund As indicated in the notes to the accounts, the Charities, policy is to distribute the clear yearly income to the Manchester Relief In Need CIO. As a re5uII of events in previous years, a balance has been accumulated on Income Fund and this is gradually being utilised to increase the annual payments to the above Mentioned Charity. Capital Fund It is the policy of the Charities to retain this Fund and the underlying investments, in order to provide a continuing source of income to enable the objective of making annual payments as oullined above lo be continued in the fLJture. Risk Management The Trustees review the major risks that the Charities fa on a regLtlar basis. The Trustees are satisfied that such risks are understood and systems are in place to ènsure that these will not affect the Charities, ability to continue their activities in the future.
CLARKE'S AND MARSHALL'S CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 (Continued) Trustees Responsibllities The Trustees are responsible for preparing the Trustees, Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi). The law applicable to charities in England & Wales requires the Trustees to prepa financial statemenls for each financial year which give a true and fair view of the state of affairs of the Charities and of the incoming resources and application of resources of the Charities for that period. In preparing these financial statements, the Trustees are required to.. select suitsble accounting policies and then apply them consislently., ObSee the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial stalements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charities 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 Chanties and enable them to ensure that the financial statements comply with the Charities Act 2011, the Chartty (Accounts and Reports} Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charities and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. This report was approved by the Trustees and signed on their behalf. 2£)IS, K. A. Graham (Hon Secretary) Date
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES Opinion We have audited the financial statements of Clarke's and Marshall's Charities (the "Charities") for the year ended 31" MarGh 2025 which comprise the Statement of Financial Activilies, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the Charities, affairs as at 31 * March 2025 and of its income and expenditure for the year Ihen ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Charities Act 2011. Basss for opinion We conducted our audf( in accordance with International Standards on Auditing (UK) {ISAs (UKI) and applicable law. Our responsibilities under those slandards are further described in the Auditorfs responsibilities for the audit of the financial statements section of Our report. We are independent of the Charities in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard, and the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial stalements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions thal, individually or collectively, may cast significant doubt on the charity's ability to continue as a going conrn for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees, annual report, otherthan the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infomation and we do not express any form of assurance conclusion thereon.
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES (Continued) Our responsibility 15 to read the other information and. in doing so, consider whether the other infomiation is materially inconsistent with the financial statement5 or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial stalements themselves. If, based on the work we have perfomied, we conclude that Ihere is a material misstatement of this other information, we are required to report Ihat fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the trustees, r6POrt is inconsistent in any material respect with the financial statements- or sufficient accounting records have not been kept- the financial statements are not in agreemenl with the accounting records and retums., or we have not obtained all the infomiation and explanations necessary for the purposes of our audit. Responsiblllties of the trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charities, ability to continue as a going cOnrn, disclosing, as applicable, matters related to going concern and using the going Concem basis of accounting unless the trustees either intend to liquidate the Charities or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financlal statements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always détect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misststements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES (Continued) We identified areas of laws and regulations, relevant to charities of this size, Ihat could reasonably be expected to have a material effect on Ihe financial statements from discussions with the trustees and key personnel. We communicated identified laws and regulations lo our audit team and remained alert to any indications of non-compliance with laws and regulations. The Charities are subject to laws and regulations that direcdy affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, as these may for example involve fraud or override of intemal controls and we are not responsible for preventing non-compliance. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. Iwww.frc.org.uklauditorsresponsibilitiesl. This description forms part of our auditorfs report. Use of our report This report is made solely to the Charities, trustees, as a body, in accordance Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might slate to the Charities, trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the Charities, trustees as a body, for our audit work. for this report, or for the opinions we have formed. Percy Westhead & Company Chartered Accountants and Statutory Audrtors Hanover House 30-32 Charlotte Street Manchester M14FD Date.. 20 11. 201 Percy Westhead & Company is eligible for appointment as auditor of the charity by virtue of its eligibilty for appointment as auditor of a company under section 1212 ofthe Companies Act 2006.
CLARKE'S AND MARSHALL'S CHARITIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST MARCH 2025 Income Fund 2025 Capital Fund 2025 Total Funds 2025 Total Funds 2024 Notes INCOME AND ENDOWMENTS Investment income 77,258.95 77,258.95 73,997 TOTAL INCOME 77,258.95 77,258.95 73,997 EXPENDITURE Costs of raising funds Investment management eosls 8,410.52 8,410.52 9,340 Expenditure on Charitable activities Grant making 63,960.00 63,960.00 61,340 TOTAL EXPENDITURE 63.960.00 8,410.52 72,370.52 70,680 NET INCOMEIIEXPENDITURE) BEFORE GAINS AND LOSSES ON INVESTMENTS 13.298.95 18,410.521 4,888.43 3,317 GAINSILOSSES ON INVESTMENTS Realised gainslllossesl on investments Unrealised gainslllossesl on investments 14,674.171 14,741.99 14,674.171 18,263.99 15581 114,5861 3,522.00 NET MOVEMENT IN FUNDS 16,820.95 1,657.30 18,478.25 111,8271 Reconclllatlon of Funds Fund Balances brought forward 194,819.78 1,317.401.83 1,512,221.61 1,524,049 FUND BALANCES CARRIED FORWARD 10 £211,640.73 £1,319,059 13 £1,530,699.86 £1,512,222 The notes on page5 10 to 15 form part of these Accounts.
CLARKE'S AND MARSHALL'S CHARITIES BALANCE SHEET AS AT 31ST MARCH 2025 Income Fund 2025 Capital Fund 2025 Total Funds 2025 Total Funds 2024 Notes FIXED ASSETS Investments 85,951.00 1,356,725.00 1,442,676.00 1,441.311 Total Flxed Assets 85,951.00 1,356,725.00 1,442,676.00 1,441,311 CURRENT ASSETS Debtors Cash al bank and in hand 677.27 130.390 46 677.27 92,724.59 11,584 63,167 137,665.871 Total Current Assets 131,067.73 137,685.871 93,401 86 74,751 LIA81LITIES Creditors falling due within one year 5.411.00 5,411.00 3,840 NET CURRENT ASSETS 125,656.73 137,665.871 87.990 86 70.911 NET ASSETS £211.607.73 £1.319.059 13 £1,530,686.88 £1,512.222 THE FUNDS OF THE CHARITIES 10 Capital Funds General capital fund Revaluation capital fund Unrestricted Income Funds General income fund Revaluation income fund 731.974.90 587,084.23 731,974.90 587,084.23 725,013 592.389 135,117.65 76,523.08 135,117.65 76.523 08 121,819 73,001 TOTAL CHARITIES FUNDS £211,640.73 £1,319,059. 13 £1,530,699.86 £1,512,222 The financial stslemenls on pages 8 10 15 We approved by the Trustees and signed on their behalf by the undermentioned Trustees on Zo P. R. Higham (Chairman) R. M. Wilhinshaw IHon. Treasurer) K. A. Graham (Hon. Secretary) The notes on pages 10 10 15 form part of these Ac¢ounts.
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 1 ACCOUNTING POLICIES (al Basls of Accounting The financial ststements have been prepared under thè historical cost convention with items re)gnised * cost or transaction value unless otherwise staled in the relevant notelsl to these ac£ounls. The finanaal stements have been prepared in accordance with the Statement of Recommended Practice.. Am)unting and Reporting by Charities preparing their aecounts in accordance with the Financial Reporting Standard applicable in the UK and Ropublic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applKable In tho Untied Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Th¢ charities corli1ute a public bènèfft entity as defined by FRS 102. The Irust6es consider that there are no matèrial uncertainties about the Charities, ability to continue as a going concem. Wi(h respect to the next reporting period, 2025-28, the most significant 8reas ol uncertainty that affect the carrying valu6 of assets held by the Trust are the level of investment return and the perfomance of investment markets (see tho investment policy and performance and risk management sectifX)s of the trustees, annual report for morè information). Ibl Fund Accounting The Capital Fund is an expendable endowment fvjnd. The in(x)ma from this fund is unrestricted and 8V8ilabl¢ for use at the discretion of the Trustees in fvtherance of the general objectwes of the Charilios. Unrestricted income fijnds comprise those funds which the trusltres a fe to use for any purpose in furtherance ofthe charitable objeets. Unrestricted funds include designated fvnds where the trustees, al their discretion, hav8 crèated a fun(J for a specAfic purpose. lel Flxèd Asset Investsnents Investments are a form of basic financial instrument and are initially recognised al their transaction value and subsequently measured at their fair value as at the balan sheet date using the closing qutstèd market pri. The statement of finanThal activf(ies indudes the net gains and losses arising on revaluation and disposals throughout the year. The Charities do not acquire pul opb"ons, detivatives or other complex finanry81 instrumonts. All gains and losses aro taken to the Staternent of Financial ALttvilies a$ they arise. Realised gains and losses on inve5trngnts are calcu5ated as the difference been sales proceeds and their opening carrying vslue or their purchase value if acquired subsequent lo the first day of the ffnancial year. Unrealised gains and losses are calculated as the differen between the fair valufy at the year end and their carrying value. Idl Inv•stment Income and Interest R•¢•lvablo Incorne from investments is recognised in the Accwnts at the date when it be¢omes payable. Thi3 poliry represents a departure from recommended accounting principles whi¢h require income to be recognised in the accounts on an a¢¢tuals basis. In the cArcumslances of these Charities, the Trustees consider f( inappropriate to recognise this income until the date when this is due to be received. Following the abolition of Advance Corporation Tax and in accordance with rectsmmended accounting practi, dividend5 from UK Companies and Unit Trusts are St net. Other investmènt incorne is stated gross. Income from Chief and Ground Rents and bank interest rècèivable is accounted for on the accruals basis and is slated gross. 10-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEIJJENTS FOR THE YEAR ENDED 31ST MARCH 2025 lel Expenditurn rncognition Liabilities are recognised as expenditure as soon as ther& is a legal or constructive obligation committing the charities to that expenditure, il is probable that s&ttlemenl will be required and the amount of the obligation can ba rneasured reliably. All expenditure 13 accounted for on an accruals basis. All expenses including support costs and gov6rn8nce costs are allocated or apportioned lo the applicable expenditure headings. For more informatson on this attribution refer to note19) below. lfj Allo¢ation of support and govamance costs Support costs have been allocated to other support CO51s. Govemance costs comprise all costs involving the public ac£ountability of the charities and their compliance with regulation and good practice. These costs indude ¢osls related lo sLitutory audr( togethèr with an apportionment of overhead and support $ts. Goveman¢e costs and support costs lating lo charitable activities have been apportioned bas on the number of individual grant awards made in recognition that the adminislralive costs of awardin9. monitoring and assessing grants are broadly equivalent. The allocation of sUPPOrt and governance costs is analysed in ncite 5. Igl Costs of rnising fund5 The ¢osts of generating fijnds consist of investment management costs and any legal fees. Ihl Charitablo aViti00 Costs of charitable aCtiv.e$ indude grants made, governance costs and an apportionment of support costs as shown in 2. TRUSTEES, FEES The trustees all give freely their time and expertise without any form of remuneration or other b&nefit in cash or kind12024.. £nill. No expense5 have been paid to the Iruslees in the year {2024.' £nlll. 3 INVESTMENT INCOME 2025 2024 Income from investments Interest on cash deposits Chief and Ground Rents re1¥able 76,357.81 728.64 174.50 73,110 712 175 77,258.95 73,997 11
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 202S 4 INVESTMENT MANAGEMENT COSTS 2025 2024 Investment management fees 8,410.52 9,340 8.410.52 9,340 In 2025, all £8,410.52 {2024.' £9,34010l investment managèment cxjsts were attn'butable lo capital fijnds 5 ALLOCATION OF GOVERNANCE AND SUPPORT COSTS The breakdown of support rJ)sts and govemance ¢osts are shown below. Apporbonment is solety lo grant making expenditure as the sole activrfty. 2025 2024 Support ¢08ts Bank tharges 2025 2024 Govemance costs: Audilcils remuneration 3,960.00 3,840 3.960.00 3,840 202 2024 Allo¢*ion of governance and other Support costs: Grant making 3,960.00 3,840 3,960 00 3,840 The trustees have decided to meet all govemance costs from unre8lrided funds and so no allocation or ¢hargè is made lo restrided funds for any 9gvematKe related costs. The audilorf$ remunerth'on constituted an audit fee of £3,96012024.. £3,840). 12-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 6 ANALYSIS OF CHARITABLE EXPENDITURE The charities undertake their charitable ath'vth'es through grant making and awarded grants in furtherance of their charitsble artivi(ies. Support and Grant funded governan¢• activi costs Total 2026 Total 2024 Funded from unrestricted ftjnds.. Grant making 60,000.00 3,960.00 63,960.00 61,340 Total 60,000.00 3,960.00 63,960.00 61,340 Recipients of Instltullonal grants: The Lord Mayor's Charities were merged with other charities in 1974 to fom the Manchester Relief in Need Charity. At the meeting of the Trustees of the Clarke's and Marshall's Charrties on 23rd July, 1974, it was resolved that the clear yearty incnme of the ¢harilie5 be paid for the time being to the Manthesler Relief in Need Charty. The latter has since an merged with Manchester Relief In Need CIO to whith Ihe dear yearly income is now pa'd. ATnount of C tributio Y• 201812019 201912020 202012021 202112022 202212023 202312024 202412025 55.000 55,000 55,000 55,000 57,500 57,500 60,000 7. FIXED ASSET INVESTMENTS Income Fund 2025 Capital Fund 20 Total Funds 2025 Total 024 Movernent in fixed asset Inwstm•nts Valuation at start of year Additions at cost Diswsals- proceeds Investment gainsllosse5- Realised Unrealised Valuation at end of year 82.429.00 1,358,882.00 1,441.311.00 110.722.01 110,722.01 {122.946.831 (122,946.831 1.459,419 56,213 159.1771 14,674.1n 14.741.99 1,356,725.00 14.674.171 18,263.99 1.442,676.00 15581 14.586 1,441,311 3,522.00 85.951.00 Historical Cost Revaluation Reserve 9,427.92 769,640.77 76,523.08 587,084.23 85,951.00 1,356,725.00 T19,068.69 663,607.31 1,442,676.00 775,921 665,390 1.441,311 Investments at falr valu• compri$ed'. Investments Chief and Ground Rents 85.951.00 1,356,725.00 1,442,676.00 1,441,311 85,951.00 1,356,725.00 1,442.676.00 1,441,311 13-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 All investments are carried at their fair value. Investment in eouities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unil trusts and open-ended investmènt companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid pri¢e. Asset sales and purchases are recogni5ed at the date of trade al cost {that is their transaction valLtel. Fdlwng the change in the adminislralion of th& Charities in 1991 thè documents of lille in support of the Re¢e5vable Chief and Ground Rents were reviewed and it was confirmed that the neSSary deeds wère held to give gotsd marketable lrtle lo only some of the rents receivable. No valuation has been attributed to these in previous Accounts, and these have bgen induded in the Accounts on the basis of a £nil valuation. The Trusteès do not consider it appropriate to Pla 8 valuation on these al the present time. 8. ANALYSIS OF CURRENT ASSETS 2025 2024 Other debtors Clubs & Soaeties cunI Account Funds held wlh Stockbroker 677.27 59,628.08 33.096.51 93,401.86 11.584 34,051 29,116 74.751 9. ANALYSIS OF CURRENT LIABILITIES 2025 2024 Crgdltors undor 1 yèar A¢cruals 5,411.00 5.411.00 3,840 3,840 10. ANALYSIS OF CHARITABLE FUNDS Analysis of Fund movements ains and losses Balance bld Inc Ex nditu Fun Transfers elfwd Capital a¢eount General Revaluab"on Totsl 725,012.78 592.389.05 1.317,401.83 18,410.521 10,Cfj7.82 5,304.82 5,304.82 731,974.90 587,084.23 1.319,059.13 {8,410.521 10,067.82 Ineome Fund Gener81 Revaluation Total 121,818.70 73,001.08 194,819.78 77,258.95 163.960.001 3.522.00 13.522.001 3,522.00 135,117.65 76,523.08 211,640.73 77.258.95 163.960.001 3,522.00 Total 1.512,221.61 77.258.95 72,370.52 13,589.82 1,530,699.86 14-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ANALYSIS OF CHARITABLE FUNDS - PREVIOUS YEAR Analysls of Fund mov•ments ains and 108ses Balance blfwd Incom nditure n$fo Fund clfv Capital account General Revaluation Total 709,988.47 630,364.89 1.340,353.36 {9.339.8n 113.611.661 37,975.84 37,975.84 725,012.78 592,389.05 1,317,401.83 19,339.871 {13,611.661 Income Fund General R&valuion Total 109,161.71 74,534.08 183.695.79 73,996.99 {61,340.001 11,533.00} 1,533.00 1,533 00 121,818.70 73,001.08 194,819.78 73.996.99 161,340.001 {1,533.001 Total 1,524,049.15 70,679 87 15 144.66 1,512,221.61 l Funds are unrestricted. Al 4 meeting of the Trust on 23rd July 1974, it was resolved th the clear yearfy income of the Charities be paid for the time being to the Manchester Relief in Need Charity. The latter has since been merged with Manchester Relief In Need CIO to which the dear yearfy income is now paid. 15-
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