Huntl & Mx SinclAir Charitable Trust (Registered Charlty Nurnber 235939) 6.4.2024 to 5.4.2025 Statement of Financial Actlvltles and Balan e Sheet a t 5.4.202 Hunters Law LLP 9 New Square Lincoln'5 Inn London WC2A 3QN SEC.WW.35630.1
HUNTLY & MARGERY SINCLAIR CHARIT ABLE TRUST REPORT AND ACCOUNTS for the ear ended 5 APRIL 2025 COY4TENTS P4ges Reference and Administrative Details Structure Governance and Management Objectives and Activities Achievement and Perfomiance Financial Review Future Developments Statement of TTU8t¢es' Responsibilities Independent Examiners Report Statement of Financial Activities including Income & Expenditure account Balance Bheet Notes to the accounts 10-16
HUNTLY & MARGERY SINCLAIR CHARITABLE TRUST TRUSTEES, REPORT FOR THE PERIOD FROM 6.4.2024 TO 5.4.2025 The tnLSt¢u present their annual report and financial statements for the year ended 5 April 2025. The trnstees have adopted th¢ provisions of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)). REFERENCE AND ADMINISTRATIVE DETAILS TRUSTEES Mrs N M Sherbrooke Mrs L H Singer Mrs K J SpaTrow REGISTERED OFFICE O&k House Hambutt's Drive Edge Road Painswick Stoud GL6 6UP BANKERS Coutts & Co Chandos Branch 440 Strand London WC2R OQS VESTMENT ADVISERS Vernieer Parthers LLP 130 Jemyn Street London SWIY4UR INDEPENDENT EXAMINER Burgess Hodgson Limited Chartered Accountants 27 New Dover Ro&d Canterbury Kent CTI 3DN SOLICITORS Hunters Law LLP 9 New Square Lincoln's Inn London WC2A 3QN STATUS An unincoTporatcd charitable trust CHARITY REGISTRATION NUMBER 235939
HUNTLY & MARGERY SINCLAIR CHARrrABLE TRUST STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Instrument The charity constituted under deeds dated 30 April 1964 and 25th March 1965. Under the provisions of the deeds, the tNstees are directed to hold capital and income upon trnsl, administering the capitsl as they think fit and applying the income and all or part of the capital to charitable putposes at their discretion. The power to accumulate income of the charity by reinvestment ceased on the death of Wing Commander Sinclair in 1989. The policies of tbe trustees in ordcr to achieve the objectives of the charity havc remained unchang¢d. Recruitment And appointJn¢nt of new trustees The power of appointing new trustees is vcstcd in the Istee5. Induedon and tralnlng of new trustees The trustees share responsibility for the induction and training of all new tNstees of the charity. usually assisted in doing so by the charity's legal advisor8. Org&nlsatiDnal Atyueture The ttustees rnanage the charity generally and usually meet at least once each year to take all decisions necessary jointly with regard to the review of the charity's activities and achievement of objectives. Certain day-to-day administrative task5 are delegated to the charity's legal and inv¢stm¢nl advi5¢rs. Wlder network The charity is not part of a wider network. Related partles The charity has no subsidiaTie5 and is not connected with afty other charity or other entity. Rlsk management The trustees have a duty to identify and review the risks to which the charity 15 exposed and to ensurc appropriate controls are in place to provide reasonable assurance against fraud and CT. At each trustees, meeting any significant risks of the charity are disrws¢d. Where appropriatc, risks arc reportcd on and discussed in subsequent meetings. The trustees have reviewed the risks to which the charity is exposed and consider that they have established sufficient systems and procedures to mitigate those risks.
HUNTLY & MARGERY SII¥CLAIR CHARITABLE TRUST oBJEIvEs AND ACTIVITIES Objedives and significant activities Thc charity's objective is to providc financial assistance to such charitable causes th¢ trustees shall decide. The charity maintains an investmenl portfolio and operates as a grant making charity. The charity is not Anvolvcd in fundraising. The trustees must apply the income and all or part of the capital of the charity to charitable pUoseS at their discretion. The trustccs normally make their choices annually. towards the end of each financial year. Nearly all the charity's income is utilised in grants for charitable purposes already known to the trustees. The trustees are therefore seldom able to make grants in response to unsolicited applications. The Stees also regret that due to the high number of such applications received they are not able io reply or return printed malerial supplied. When considering applications for funding the trustec5 conccntrate on the followin8 factors; (a) At ¢xisting levels of expenditure, how many years. reSceS the applicant's balance sheet shows. The long tenn prospe¢l8 of success of the applicant's proposals. The dependence of the applicant upon any single source (including thc Huntly and Margery Sinclair Charitable Trust) for future funding. The proportionate costs of adrninistration and fundraising of the applicant. (e) Th¢ degree of relevant infonnation disclosed in appeals and accounts material. (b) (c) (d) (f) The degree to which the trustees have been infornied of pro8ress made since. and the use of charity funds from. previous grants. Volunteers Aside from th¢ trustees the charity receives no a8SlStance from volunte¢r8. Publlc Benent Statement Thc trustees consider that the charity's activities. as set out in its Objectives and Activities detailed above, for the public benefit. The trustces confirni that they hav¢ complied with their duty under s17(5) of the Charilies Act 2011 to have due regard to the guidance publisbed by the Charity Conunission for England and Wales. ACHIEVEMENT AND PERFORMANCE Charltable activities During the year to 5 April 2025 the charity received income from its investments of £53,381 (£41,307 in 2023124). The trnstees made charitable donations totaling £44,0(X> (£45.000 in 2023124) and spent £28,002 {£19,694 in 2023124) on the rharity's administration.
HUNTLY & MARGERY SINCLAIR CHARITABLE TRUST ACHIEVEMENT Al PERFORMANCE- CONTtNUED Investment performance The charity has professional investment advisers and brokers who generally manage the charity's investments. subject to the review of the trustees. During the year investment5 were sold for £256.974, realising a loss on their values at thc start of the year of £2.516. Tnvestments were purchased during the ye&r at a cost of £377,905 and the market value of the charity's retained investments increased by £14,959 to £1,514.389. Internal and external factors There are no significant internal or external factors curr¢ntly affccting the charity. FINANCIAL REVIEW Reservei pollcy The Iruslees consider it prudent that unrestric*d reserves should be retsined to produce an income sufflcient to maintain the current level of expenditure, including donations and all expenses. The charity'5 funds decreascd by £125,619 from £1,676,416 to £1.550.797. Prlnclpal fundlng $ouree8 The charity's income is derived solely from it8 investment portfolio. Investmenl polley Vdnd obJectlve8 The charity's investment policy and objectives are agreed fomally by the tTUStees and reviewcd annually. The trustees are advised by professional fund managers. The charity's investment objectives are to maintain sufficient reserves and investments to be able to continue its existing activities and carry out its future Pla. FUTURE DEVELOPMENTS The Trustees of the charity are pleased to llole the charity did not suffer fmancially as a result of tbe Covid pandemic and believe they can continue at a similar level of activity as they have in previous years. The charity will continue to i)perate solely as a grant-m8king charity. STATEMENT OF THE TRUSTEES. RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS In accordance with the Charity Commission's Statement of R¢¢ommended Practice 2015. Acwunting for Charities, the trustees are responsible for preparin8 financial statements for each financial year. The trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting
HUNTLY & MARGERY SINCLAIR CHAIUT ABLE TRUST STATEMENT OF THE TRUSTEES? RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS- CONTINUED Practice (United Kingdom Accounting sndards and applicablc law). The financial statemcnts are required by law to give a true and fair view of the state of affairs of ihc charity and of the surplus or deficit of the charity for that period. In preparing those financial statements. the trus*es are required to". select suitable accounting policies and apply them consistently. make suitable judgements and estimates thai &re reasonabl¢ and prudent. state whether &pplicable &c¢ountin8 stdards and statements of recommended practice have been followed subject to any material departures disclosed in thc accounts" and prepare the financial statements OD the going conccrn basis unless it is inappropriate to presume that thi5 basis applies. The TNstccs are responsible for keepin8 prow records which disclose with reasonable accura¢y at any timc, the financial position of thc Charity and which cnablc them to cnsure that thc financial stalcments comply with the siatutory requiremcnls and with the Charity's 8overning documents. They are also responsible for safeguarding the assets of thc Charity and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. INDEPENDENT EXAMINER The charity's independent examiners Burgess Hodgson Limited have indicated their willingness to remain in office. (a) (b) (c) (d) Dated thls 13 day of 2025 LIDda Hamllton Si er (on behglf of the trustees)
Independent Examlners Report to the Trustees of Huntly & Margory Sln¢lair Charitable Trust I report on the accounts of the Trust for the year ¢nded 5 April 2025 RespectlV8 responslbilities of twsteos and examiner The charity's trustees are responsible for the preparation of the aGcounts. The charty's trustees consider that an audrt is not required forthis year under section 144{2) of the Charities Act 2011 (the 2011 Act) and that an Independent exarnlnation is needed. It is my responsibility to.. examine the accounts under seclion 145 of the 2011 Act., to follow the procedures laid down in the General Diredions given by the Charity Commissionar under section 145{5)(bl of the 2011 Act-, and to state whether particular matters have come to my attention. Basis of independent 8xaminePs report My examination was carried out in accordance wlth the General Directlons given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charily and a comparison of the accounts pres8nted with those records. It al80 Includes consideration of any unusual items or disclosurés in the accounts, and the seeking of explanation8 from you as trustees conceming 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 accounts present a Irue and fair view, and the report is limitéd to those matters set out In the statement b810w. Indgpandent examin8¢s statement In connection with my examination, no matter has me lo my attention.. which gives me reasonable cause to believe that, in any material respect, the requlrements: (a) to keep accounting records In aOrdanCe with section 130 of the 2011 Act; and (b) to prepare accounts whith accord with the accountin9 records and to comply wtth the accountlng requirements of the 2011 A& have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Colin Roid FCA Burgess Hodgson Limited Chartered Accountants 27 New Dover Road Canterbury Kent CT13DN August 2025
HUNTLY & MARGERY STNCLAIR CHARITABLE TRUST T ATEMENT OF FtNANCIAL ACTIVITIES FOR THE YEAR TO 5.4.2025 2024125 2023124 Incomin Resource5 unrestricted funds TNst Income Cazenove & Co Deposit Inierest (gross) Vemeer Parthers Interest (gross) Investment In¢ome 5,652.53 1.432.09 34,222.80 2.362.27 51.018.30 53.380.57 41,307.42 Resources Ex ended unrestrlcted funds Direct Charitable Ex cnditur Donations - see Schedule 44,000.00 45,000.C(I Mana ement and Administrati Trn8tees' meeling expcnses Coutts bank fec5 and interest Burgess Hodgson accountsncy fees 2023124 (incl. VAT) Burgess Hodgson accountancy ftts 2024125 (incl. VAT) Ca7.enove Investment Management fees Vermeer Investment Management fees Hunters legal fc¢s for 2024125 (incl, VAT) nEx enses 513.85 954.00 1.026.00 511.35 870.00 9,313.02 16.105.05 10,429.20 9,000.00 73,Q28.10 64.694.37 THERE ARE NO PUBLICITY OR FUND RAISING COSTS Net IncomlnW(Outgolng) Resource8 In the year (19,647.53) {23,386.95) Lnss Realiscd Unrealised on tnvestm nts in the (2,515.92) (103,456.10) 61,155.76 30,262.46 Total funds brought forward from last year's Balance Shect 1,676,416.35 1,608.385.08 TOTAL FUNDS CARRIED FORWARD TO THIS YEAR'S BALANCE SHEET 1.550,796.80 1,676,416.35
HUNTLY & MARGERY SINCLAtR CHARKTABLE TRUST BALAY4CE SHEET AT 5.4.2025 5.4.2025 5.4.2024 UNRESTRICTED FUNDS AT 5.4.2025 1,550.796.80 1,676.416.35 There are no Restricted or Endowments Fundj represented by:" INVESTMENTS at m(Ct Value 1,514.388.91 1,499,429,97 CASH Vern)cer Partners- capital Vern)eer Partners - income Coutts & Co current account Hunters Client account 7,079.51 I,(K)8.28 29,346.10 0.00 144.115.52 3.996.02 34,374.84 0.00 CREDITORS Unpresented chequ Burgess Hodgi*on - independent examination accrual 0.00 -1,026.00 -5,51X).00 0.00 1.550,796.80 1,676,416.35 Approved on . 13 loli Llnda Hamilton Singcr (on behalf of the tru8tee$)
HUNTLY & TrL4RGERY SINCLAIR CHARITABLE TRUST DONATIONS MADE DURING THE YEAR ENDED 5.4.2025 Lotus Outreach Jnternational Multiple Sclerosis Society James, Place James, Place Cure Parkinsons Lucky's t£gacy Save the Children 3,000.00 2,000.00 3.000.00 2,000.00 2,000.00 1,500.00 1,000.00 14.5(K).(Kl Ovaid in Action Cancer Research UK Spclsbury Pl¢ Raw Workshop Restrictcd Lawrence Home Nursing Spelsbury War Memorial Hall 2,000.00 2,000.00 2,0(Kl.00 1,500.00 500.00 500.00 3,000.00 1,000.00 2,000.00 Clean Up UK Dravet Syndrome UK 14,500.00 Ronald M¢Donald House Charn]es (UK) Cotswold Art Through Schools Elkstone PCC Myeloma UK Sharp Life and Leaming Skills Glouccster Cath¢dral Rcndcomb College Hope for Tomorrow Pitchcombe PCC Cotswold Riding for Disabled 1,000.00 5(K).00 500.00 5.000.00 500.00 2,000.00 3,000.00 1,000.00 500.00 I,0.00 15,(XK).00 44.000.00
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HUNTLY & MARGERY SINCLAIR CHAIUTABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR EIYDED APRIL 2025 I. GENERAL INFORMATION The charity is a public beT]efit entity and registered Charity in England and Wales and is unincorporated. The address of the principle orrlce is Oak Hous¢ Han)buttS Thive, Edge Road, Painswick, Stroud GL6 6UP. 2. BASIS OF ACCOUNTING These financial Statements have been Prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Rcconunended Practice applicable to charities preparing their accounts in cOrdanCe with the Financial Reporting Standard applicable in the UK al Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th¢ Charities Act 2011. Historical cost accounting neS have been applied in all instances except for the valuation of inveslments. Invcstments have been valued at their year-end market valu¢, on a middle price basl5. Any correspoiiding gain or10ss on this revaluation 15 shown in the Statement of Financial Activities for the year. The financial statements are prepared in sterling. which is the functional currency of th¢ cntity. 3. INCOME The Trust income is derived solely from its investment portfolio. The TnJ8t is not involved in fund-rnisin8 or publicity. 4. RESOURCES EXPENDED Expendilure is included on an accruals basis. 14
INVESTME ASSETS 2024125 2023124 Quoted investments Market value brought fonvard Additions Diswisals Net realisediunrealised investment gain51 (losses) 1,499.430 377,905 (256,974} 1,544,759 1.943,262 (2,080.009) 105 972 Jnvestments Llsted on a recognlsed stock eichange 1514389 1499 430 Investments at Market VAlue Comprlsed:. 2024125 2023124 Equities Fixed Intcrcst 5eGurilie5 1.284.103 1,240.160 259 270 499 430 JUDGEMENTS AND ESTIMATION UNCERTAINTY The preparntion of the financial statements require5 managemerAt to make judgements, estimates and assumptions thal affect the amount reported. Accounting eslimates and assumptions are made concerning the future and, by their nature, will rarely equal the r¢l4tcd actual outcome. Thes¢ estimates and judgernents are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to bc reasonable under the circurn51ances. FINANCIAL INSTRUMENTS Financial liabiliti¢s and equity instnllnenls are ¢ISIfICd according to the substance of the contractual arrangement entered into. Debtors and creditors with no stated interest rate 3nd receivable or payable withiD one year are recorded at transaction price. Any losses arising from impaimient are reco8nised in the profit and loss account in oth¢r administrative expenses. Loans and borrowings are ini¢ially recognised at transaction price including transaction costs. Sub5equ¢ntly, they are measured at atllorti5ed cost Using the effective interest rate method. less impaim]ent. If an arrangement constite5 R finance transaction it is measured at present value. 15
STAFF COSTS The averdge head count of employees during the year was O (2024: Nil). No employee received employee benefits ofmore than £60,000 during the year (2024.. Nil). This employee and key management personnel figure doe5 not include the Trustees appointed and in position during the year. TRUSTEE REMUIYERATION AfsD EXPENSES No remuneration, benefits or expenses were paid to the Trn8tee5 of the Charity in the Cuent or previous year. INDEPENDENT EXAMJNATION Burgess Hod850n havc provided a provision fcc of £855 plus VAT (2024: £795) in regards to the annual independent examination on the 5 April 2025 accounts, which will be paid in the 5 April 2026 ycar. 16