Charity registration number 243300 (England and Wales)
C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 MARCH 2025
C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | T E Eliot-Cohen, Esq | |
|---|---|---|
| S V Eliot-Cohen | ||
| S Eliot-Cohen | (Appointed 10 December | |
| 2024) | ||
| Charity number | 243300 | |
| Principal office | Hilldrop Farm | |
| Hilldrop | ||
| Ramsbury | ||
| Marlborough | ||
| Wiltshire | ||
| SN8 2HB | ||
| Independent examiner | Old Mill Accountancy Limited | |
| Unit 2 | ||
| Greenways Business Park | ||
| Bellinger Close | ||
| CHIPPENHAM | ||
| Wiltshire | ||
| SN15 1BN | ||
| Bankers | C Hoare & Co. | |
| 37 Fleet Street | ||
| LONDON | ||
| EC4P 4DQ | ||
| Solicitors | Keystone Law | |
| 40 Chancery Lane | ||
| LONDON | ||
| WC2A 1JF | ||
| Investment advisors | Trinity Bridge | |
| Wigmore Yard | ||
| 42 Wigmore Street | ||
| LONDON | ||
| United Kingdom | ||
| W1U 2RY |
C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
TRUSTEES' REPORT
FOR THE YEAR ENDED 22 MARCH 2025
The trustees present their annual report and financial statements for the year ended 22 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The Trustees hold Unrestricted Funds to be applied towards the furtherance of such charitable purposes or objects as they in their discretion think fit.
To meet with their objectives, the Trustees make donations to registered charitable bodies. They receive regular requests for funding, which are considered at that time in accordance with financial information provided to them by Trinity Bridge.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the year the Trustees made a number of charitable donations, as detailed in the notes to these accounts. These donations align with the charity's objectives as it continues to review requests received and award grants deemed suitable.
Total incoming resources were £45,548 (2024:£28,663), with £2,916 (2024:£2,663) being spent to generate such funds. Of the total incoming resources, £25,028 (2024: £nil) came from a donation from a trustee. Commitments to charitable donations totalled £14,795 (2024:£14,070). Governance costs of £4,011 (2024:£2,993) were incurred, resulting in net incoming resources for the year of £23,826 (2024:£8,937).
The SOFA includes net gains and losses arising on revaluations and disposals throughout the year. During the year there were disposal of investments which generated realised loss of £7,062 (2024:loss of £2,625).Including the unrealised gains and losses, the net increase in funds during the year was £34,034 (2024:£6,877).
Financial review
Reserves
The Trustees seek to hold sufficient reserves to enable the charity to make a consistent number of grants each year, there is no formal reserves policy or set value of reserves.
Investments
As the Trustees have delegated their discretion in relation to their investment functions, they have established a Policy Statement with their investment manager, in accordance with S15 Trustees Act 2000.
The Trustees have reviewed the performance of their investments and note that the value of the Trust's portfolio as at March 2025 totalled £474,787, an increase from £445,654 as at 22 March 2024. The Trustees constantly review the performance and no changes are to be made to their policies at this time.
Structure, governance and management
This charitable trust was created by Christopher E Eliot-Cohen by Deed dated 22 March 1965.
The trustees who served during the year and up to the date of signature of the financial statements were: T E Eliot-Cohen, Esq S V Eliot-Cohen S Eliot-Cohen (Appointed 10 December 2024)
(Appointed 10 December 2024)
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
New Trustees will be selected in accordance with their relationship to the current Trustees and the expertise they can bring to the charity.
The Trustees hold the Trust Fund and shall pay or apply the income and capital towards the furtherance of such charitable purposes or charitable objects as they in their discretion think fit.
All of the Trust's capital is invested on stock markets or held in cash. As there are no restrictions relating to investment under the governing deed, the Trustees have resolved to delegate the management of the investments to Trinity Bridge. They regularly review the performance from financial information provided to them by their investment manager in accordance with their Policy Statement.
The Trustees have examined the major strategic, business and operational risks that the Charity faces and believe that appropriate action has been taken to mitigate these risks. The Trustees will continue to keep the adequacy of the systems in place under review.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
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 operation.
The trustees are responsible for keeping sufficient 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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' report was approved by the Board of Trustees.
T E Eliot-Cohen, Esq Trustee Dated: 16 September 2025
S V Eliot-Cohen Trustee Dated:16 September 2025
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
I report to the trustees on my examination of the financial statements of C E Eliot-Cohen's Charitable Settlement (the charity) for the year ended 22 March 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no 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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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Rachel Wills, FCA Old Mill Accountancy Limited
Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire SN15 1BN
Dated: 29 September 2025
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 22 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 25,028 | - |
| Investments | 4 | 20,520 | 28,663 |
| Total income | 45,548 | 28,663 | |
| Expenditure on: | |||
| Raising funds | 5 | 2,916 | 2,663 |
| Charitable activities | 6 | 18,806 | 17,063 |
| Total resources expended | 21,722 | 19,726 | |
| Net gains/(losses) on investments | 11 | 10,208 | (2,060) |
| Net movement in funds | 34,034 | 6,877 | |
| Fund balances at 23 March 2024 | 493,315 | 486,438 | |
| Fund balances at 22 March 2025 | 527,349 | 493,315 |
The statement of financial activities includes all gains and losses recognised in the year.
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
BALANCE SHEET
AS AT 22 MARCH 2025
| Notes Fixed assets Investments 13 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted funds |
2025 £ 56,282 (3,720) |
£ 474,787 52,562 527,349 527,349 527,349 527,349 |
2024 £ 51,156 (3,495) |
£ 445,654 47,661 |
|---|---|---|---|---|
| 493,315 | ||||
| 493,315 | ||||
| 493,315 | ||||
| 493,315 |
The financial statements were approved by the trustees on 16 September 2025
T E Eliot-Cohen, Esq Trustee
S V Eliot-Cohen Trustee
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 MARCH 2025
1 Accounting policies
Charity information
C E Eliot-Cohen's Charitable Settlement is a charitable trust constituted by trust deed dated 22 March 1965. The charity is a public benefit entity. The principal office address is Hilldrop Farm, Hilldrop, Ramsbury, Marlborough, Wiltshire, SN8 2HB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
1 Accounting policies
(Continued)
1.5 Resources expended
All expenditure is recognised on an accruals basis, being included when the expense has been incurred as at the balance sheet date.
Grants are recognised on an accruals basis, being included when the trustees have resolved to make the donation as at the Balance Sheet date.
Amounts included in governance costs are those incurred in relation to the general running of the charity and support its requirements. They are not related to the direct management function. These costs are attributable to both the capital and the income of the fund and are split in accordance with how the expense in incurred. These costs are recognised on an accruals basis, being included when the liability has been incurred as at the Balance Sheet date.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
3 Income from donations and legacies
| Donations and gifts 4 Investments Income from listed investments Foreign income - gross Interest receivable 5 Raising funds Investment management 6 Charitable activities Grant funding of activities (see note 7) Share of governance costs (see note 8) |
2025 £ 25,028 2025 £ 7,563 11,127 1,830 20,520 2025 £ 2,916 2,916 2025 £ 14,795 4,011 18,806 |
2024 £ - |
|---|---|---|
| 2024 £ 5,866 20,953 1,844 |
||
| 28,663 | ||
| 2024 £ 2,663 |
||
| 2,663 | ||
| 2024 £ 14,070 2,993 |
||
| 17,063 |
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
7 Grants payable
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Grants to institutions: | ||
| Action Through Enterprise | 500 | 600 |
| Arthur Rank Hospice | 100 | - |
| Ataxia UK | 300 | 300 |
| Bob Champion Cancer Trust | - | 200 |
| Brain Research Trust | 300 | 300 |
| Breast Cancer Now | - | 300 |
| Brendon Care | - | 200 |
| Campaign Against Living Miserably | - | 300 |
| Cancer Research UK | 200 | 100 |
| Chilton Foliat UK | - | 50 |
| Cornwall Community | 300 | 300 |
| Countess of Brecknock Hospice | - | 200 |
| Crohns and Colitis UK | - | 600 |
| Dementia Research UK | - | 600 |
| Friends of Newbury Festival | 50 | 50 |
| Friends of The Marsden | - | 200 |
| Healing Hand Network | - | 200 |
| Historic Royal Palaces | - | 500 |
| ICVI | 500 | 300 |
| Independant Age | 300 | - |
| Lamburn RDA | - | 200 |
| Lennox Childrens Cancer Fund | 300 | - |
| Marie Curie | - | 300 |
| MIND | - | 100 |
| Mission Ukraine | - | 500 |
| Morston PCC | - | 100 |
| Motor Neurone Disease | 400 | - |
| Music in Country Churches | 50 | 50 |
| National Brain Appeal | - | 600 |
| Newbury Spring Festival | 750 | 750 |
| NSPCC | 50 | - |
| Nucleo Project | 600 | - |
| OCD Action | 300 | 150 |
| Opera Holland Park | 375 | 300 |
| Prospect Hospice | 500 | 400 |
| Prostate Cancer UK | - | 300 |
| Queen Elizabeth Foundation | 300 | 100 |
| Queen Mother's Clothing | 50 | 50 |
| Race Against Dementia | 100 | - |
| Ralph Bates Cancer Fund | - | 200 |
| Rambert School of Ballet | - | 200 |
| Ramsbury & Axford LCC | 1,050 | 1,250 |
| RNLI | 700 | 300 |
| RNIB | 500 | 300 |
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
| 7 Grants payable Royal Voluntary Service The Big Give Ate The Carers Trust The Dogs Trust The Hampshire Medical Fund The Ithacus Christian Fellowship The National Brain Appeal The Royal Ballet School Tongabezi School Trust Treloar Trust Turtle Key Arts Ufton Court Ukraine Action UK Versus Arthritis Watermill Theatre West Green Opera Wilts Historic Churches World Vision Young Minds Trust |
(Continued) 300 300 500 - 300 - 300 - 400 - 200 - 400 - - 450 500 - 400 300 400 - - 300 500 - 400 - 750 750 300 - 20 20 550 400 - 100 14,795 14,070 |
(Continued) 300 300 500 - 300 - 300 - 400 - 200 - 400 - - 450 500 - 400 300 400 - - 300 500 - 400 - 750 750 300 - 20 20 550 400 - 100 14,795 14,070 |
|---|---|---|
| 14,070 |
| 8 Support costs Support costs Governance costs £ £ Independent Examination - 1,440 Accountancy fees - 2,208 Bank charges - 363 - 4,011 Analysed between Charitable activities - 4,011 |
2025 Support costs Governance costs £ £ £ 1,440 - 1,320 2,208 - 1,292 363 - 381 4,011 - 2,993 4,011 - 2,993 |
2024 £ 1,320 1,292 381 |
|---|---|---|
| 2,993 | ||
| 2,993 |
Governance costs includes payments to the independent examiner of £1,440 (2024:£1,320) for independent examination fees.
In addition are fees payable to the independent examiner of £1,908 (2024:£947) in respect of accountancy services and £300 (2024:£345) for other services.
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The charity has no employees.
11 Net gains/(losses) on investments
| Revaluation of investments Gain/(loss) on sale of investments |
2025 £ 3,146 7,062 10,208 |
2024 £ 565 (2,625) (2,060) |
|---|---|---|
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
13 Fixed asset investments
| Listed investments | |
|---|---|
| £ | |
| Cost or valuation | |
| At 23 March 2024 | 445,654 |
| Additions | 70,680 |
| Realised gains/(Losses) | 7,062 |
| Unrealised gain/(Losses) | 3,146 |
| Disposals | (51,755) |
| At 22 March 2025 | 474,787 |
| Carrying amount | |
| At 22 March 2025 | 474,787 |
| At 22 March 2024 | 445,654 |
The above investments comprise fixed interest and index-linked securities and equities valued at the market price, as per the investment portfolio at 22 March 2025.
Shareholdings which individually represent more than 5% of the charity's investments are:
| No. of shares | Investments | Market Value |
|---|---|---|
| £ | ||
| 15,000 | Merchantile Inv Tst Ord 25p | 34,650 |
| 25,000 | Mi Chelverton UK Equity Income B | 24,310 |
| 10,000 | Swire Pacific | 68,352 |
| 4,000 | Polar Capital GBL Convertible S INC NAV | 27,360 |
| 17,640 | Swire Properties LTD | 30,022 |
| 25,000 | Trinity Bridge Select Fixed Income GBP Inc | 24,183 |
| 30,000 | UK (GOVT OG) 4.125% BDS GBP | 30,123 |
| 1,200 | First Trust US Equity Income EFT GBP INC | 31,368 |
| 20,000 | IFSL Envelope Income C | 51,498 |
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Accruals and deferred income | 3,720 | 3,495 |
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C E ELIOT-COHEN'S CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 22 MARCH 2025
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 23 March | Incoming | Resources | Gains |
and losses | At 22 March | |
|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |||
| £ | £ | £ | £ | £ | ||
| General funds | 493,315 | 45,548 | (21,722) | 10,208 | 527,349 | |
| Previous year: | At 23 March | Incoming | Resources | Gains |
and losses | At 22 March |
| 2023 | resources | expended | 2024 | |||
| £ | £ | £ | £ | £ | ||
| General funds | 486,438 | 28,663 | (19,726) | (2,060) | 493,315 |
16 Related party transactions
The charity received a donation of £25,028 (2024: £nil) from a family member of the trustees, who was subsequently appointed as a trustee of the charity after the year end.
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