**Chapel Trust Maryton Carmel** (Charity Registration No 255659)
**Report and Accounts** 31 March 2025
Pages Rep 1 to Rep 6 Report of the Trustees IER 1 to IER 2 Report of the Independent Examiner Acc1 to Acc 10 Accounts
**Chapel Trust Maryton Carmel (Charity Registration No. 255659)**
**Report of the Trustees For the Year Ended 31 March 2025**
The Trustees present their report together with the unaudited accounts of Chapel Trust Maryton Carmel (the ‘Chapel Trust’ or ‘the charity’) for the year ended 31 March 2025.
The accounts have been prepared in accordance with the accounting policies set out on pages Acc 4 to Acc 6 of the attached accounts and comply with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The principles set out in 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 United Kingdom and Republic of Ireland (FRS 102) have been followed in the preparation of this report and accounts.
## **Charitable aims and objectives**
The charity's objects are currently for such charitable purposes in connection with the public chapel of the Carmelite Monastery Maryton Grange, Liverpool including the relief of poverty and also such other charitable purposes connected with the advancement of the Roman Catholic Religion as the Trustees from time to time decide.
The Trustees refer to the guidelines contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning for its activities and setting the grant making policy for the year.
## **Achievements and performance**
The Trustees continue to support the Chapel site at Maryton Grange which is open for the public to attend Sunday and daily Mass and also for Morning Prayer. The numbers of people attending the services continues to increase.
There is a meeting room attached to the Chapel where those attending services may have refreshments after Saturday Mass. There is also a small library of theological and spiritual books, which may be borrowed.
During the year to 31 March 2024 the Trustees were informed of an extremely generous legacy to the Chapel Trust from the estate of Miss Theresa Mc Kenna, someone who was very devoted to St Therese and the Carmelite order. Theresa wished that her gift be used for the charity’s purposes. This generous gift made it possible to give substantial donations to many charities; helping those dealing with natural disasters and wars resulting in the lack of basic necessities and also various charities relieving poverty and homelessness in the UK. Also, as Theresa had an interest in education the charity contributed to other charities that support children’s learning by providing meals so that they are not too hungry to learn; one of these works in the UK and one in Africa.
In addition, the charity has kept up its regular donations to local and international charities such as local foodbanks and charities helping those in financial need; supporting the Catholic church in countries where there is persecution and hardship; and another charity that provides life changing ophthalmic treatment. The Chapel Trust also donates to a charity that cares for the elderly and others that support people with various needs. Enabled by the legacy, the charity made larger donations to these charities also this year.
Rep 1
**Chapel Trust Maryton Carmel (Charity Registration No. 255659) Report of the Trustees** (continued) **For the Year Ended 31 March 2025**
## **Achievements and performance** (continued)
As well as the relief of poverty, donations were also given to fulfil the charity’s object of advancing the Catholic religion, by supporting a Centre which helps people spiritually and materially, by a donation to a Spirituality Centre which is growing its internet outreach to offer training in Carmelite Spirituality; and also continuing to support a charity that helps missionaries and the needs of the people they work with. In all, donations of £283,008 were made during the year.
During the year the charity was able to host various groups on its premises such as a Day of Recollection for the Priests of the Deanery, and another for those discerning a call to the Permanent Diaconate. There have also been some school groups, such as those bringing children preparing for their First Holy Communion, also visits from groups of people undergoing instruction in the Catholic Faith (RCIA), University Students and Eucharistic Ministers.
The Chapel Trust Maryton Carmel is committed to safeguarding all children and adults. For Chapel Trust Maryton Carmel this commitment directly relates to the fact that we are all made in the image of God and the Church's common belief in the preciousness, dignity and uniqueness of every human life. We start from the principle that each person has a right to expect the highest level of protection, love, encouragement and respect. We are committed to the One Church Approach to safeguarding by implementing the changes needed and ensuring we respond to victim/survivors promptly and compassionately.
All the Trustees have undertaken safeguarding training during the year.
## **Financial review**
This year expenditure totalled £321,582 (2024 - £27,558). The donations paid amounting to £283,008 (2024 - £12,628) made up the majority of this. A further £9,462 (2024 - £6,355) related to the provision of Mass, the support of clergy and ongoing liturgical costs. Maintenance this year amounted to £13,729 (2024 - £3,077). The Chapel Trust also made a contribution to the Monastery in respect to the costs of insurance and utilities of £13,110 (2024 - £Nil).
One main source of income for the Chapel Trust is from investments and interest receivable and this year it totalled £5,876 (2024 - £ 1,730). The Chapel collection brought in £1,775 (2024 - £1,220). This includes the mandatory collections of the Archdiocese, which the Chapel Trust supplements when paying on. Alms of £220 (2024 - £963) were donated to the charity over the year plus £1,355 (2024 - £1,357) in mass offerings.
As mentioned previously the charity received a very substantial legacy of £630,410 over the two years to 31 March 2025 together with interest of £4,192 which has enabled the majority of the Chapel Trust’s charitable activities this year.
Rep 2
**Chapel Trust Maryton Carmel (Charity Registration No. 255659) Report of the Trustees** (continued) **For the Year Ended 31 March 2025**
## **Financial position** (continued)
## **Reserves policy, financial position and future plans**
For the forthcoming year the charity will continue its activities, making sure firstly that it covers it’s working expenses, then that it can continue its regular donations and where and when possible make further donations. The reserves of the charity at 31 March 2025 totalled £360,986 (2024 - £652,430) and were deemed acceptable given the receipt of the legacy referred above. Generally, the Trustees’’ policy is to retain reserves to ensure the charity may continue to make grants and donations as well as operate the Chapel at Maryton Grange over the long term.
## **Public benefit**
When setting the aims of the charity, the Trustees have complied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission’s guidance on public benefit.
The Trustees are satisfied that the charity has delivered public benefit over the past year.
## **Governance, structure and management**
## **Constitution**
The Chapel Trust is governed by a trust deed dated 29 March 1968 (as amended) and is registered with the Charity Commission, Charity Registration No. 255659.
## **Structure and management reporting**
The Trustees are ultimately responsible for the policies, activities and assets of the charity. They meet regularly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the Trustees seek advice and support from the charity’s professional advisers including investment managers, solicitors and accountants.
## **Trustees**
The Trustees in office during the year were as follows:
Sr Patricia Lovat Sr Gabrielle Scott Sr Rosemary Doheny Sr Mary Morgan
New Trustees are appointed by those Trustees in office at the time of the appointment.
## **Key management personnel**
The Trustees consider that they comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.
The Trustees receive no remuneration in respect of their duties.
Rep 3
**Chapel Trust Maryton Carmel (Charity Registration No. 255659) Report of the Trustees** (continued) **For the Year Ended 31 March 2025**
## **Governance, structure and management** (continued)
## **Structure and management reporting**
The Trustees are ultimately responsible for the policies, activities and assets of the charity. As the charity is fairly small in size, for much of the year the Trustees were responsible also for much of the day-to-day work of the charity. They meet when necessary to review the charity’s activities, possible developments, make important decisions and to seek advice and support from the charity’s professional advisers including investment managers and accountants.
## **Risk management**
The Trustees recognise their responsibility for the management of risks faced by the charity. The Trustees are aware that they have an obligation to develop a formal risk management policy and are in the process of reviewing the risks that the charity faces with a view of establishing a risk management policy.
The Trustees have assessed the major risks to which the charity is exposed. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational risks faced by the charity, they have established effective systems to mitigate those risks.
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees’ report and accounts 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 accounts for each financial period which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period.
In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Rep 4
**Chapel Trust Maryton Carmel (Charity Registration No. 255659)**
**Report of the Trustees** (continued) **For the Year Ended 31 March 2025**
## **Governance, structure and management** (continued)
## **Statement of Trustees’ Responsibilities** (continued)
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the constitution. 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.
For and on behalf of the Trustees:
P. A. Lovat
Trustee
Date of approval: 20. 1. 2026
Rep 5
**Chapel Trust Maryton Carmel (Charity Registration No. 255659) Report of the Trustees** (continued) **For the Year Ended 31 March 2025**
**Principal address** Carmelite Monastery Maryton Grange Allerton Road Calderstones Liverpool L18 3NU
**Charity registration number** 255659
**Independent examiner** Amanda Francis The Paddocks, Church Road Hargrave Northamptonshire NN9 6BQ
**Principal bankers** National Westminster Bank Plc. Liverpool, City Office Branch 2-8 Church Street Liverpool L1 3BG
**Investment managers** Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD
Rep 6
## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report Report to the trustees** Chapel Trust Maryton Carmel **On accounts for the year** 31 March 2025 **Charity no** 255659 **ended (if any) Set out on pages** Acc 1 to Acc10 I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2025. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have 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 accounts to be reached.
|**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**Address:**|**Date:**
Amanda Francis|23 January 2026|
|---|---|---|
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||Amanda Francis, Independent Examiner, Chartered Accountant||
||Text||
||ICAEW||
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||The Paddocks
Church Road
Hargrave
Northamptonshire, NN9 6BQ||
IER 1
## **Section B Disclosure**
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
IER 2
## Chapel Trust Maryton Carmel Statement of financial activities Year ended 31 March 2025
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Unrestricted funds
Notes 2025 2024
£ £
Income from:
Donations and legacies 1 19,760 618,540
Investments and interest receivable 2 5,876 1,730
Other sources 4,192 64
Total income 29,828 620,334
Expenditure on:
Raising funds – investment manager fees 187 269
Charitable activities
. Donations and grants 3 283,008 12,628
. Operation of the Chapel at Maryton Grange 4 38,387 14,661
Total expenditure 321,582 27,558
Net (expenditure) income for the year before net investment gains (losses) 5 (291,754) 592,776
Net realised and unrealised gains (losses) on investments 8 310 (98)
Net movement in funds - net (expenditure) income (291,444) 592,678
Reconciliation of funds:
Fund balances brought forward at 1 April 2024 652,430 59,752
Fund balances carried forward at 31 March 2025 360,986 652,430
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The charity has no recognised gains and losses other than those shown above and therefore no separate statement of total recognised gains and losses has been prepared.
All income and expenditure related to unrestricted funds.
Acc 1
## Chapel Trust Maryton Carmel Balance Sheet As at 31 March 2025
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2025 2024
Notes £ £ £ £
Fixed assets
Investments 9 38,136 36,698
Current assets
Debtors - 615,000
Cash at bank and in hand 340,850 5,074
340,850 620,074
Liabilities
Creditors: amounts falling due
within one year (18,000) (4,342)
Net current assets 322,850 615,732
Total net assets 360,986 652,430
Represented by:
Funds and reserves
Income funds
Unrestricted funds 360,986 652,430
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Approved by the Trustees and signed on their behalf by:
P. A. Lovat Trustee Date of approval 20. 1. 2026
Acc 2
Chapel Trust Maryton Carmel Statement of cash flows Year ended 31 March 2025
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Notes 2025 2024
£ £
Cash flows from operating activities:
Net cash generated by (used in) operating activities A 331,028 (25,762)
Cash flows from investing activities:
Investment income and interest received 5,876 1,730
Proceeds from the disposal of investments 7,431 10,343
Purchase of investments (8,152) -
Net cash generated by investing activities 5,155 12,073
Change in cash and cash equivalents in the period 336,183 (13,689)
Cash and cash equivalents at 1 April 2024 B 6,052 19,741
Cash and cash equivalents at 31 March 2025 B 342,235 6,052
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**Notes to the statement of cash flows for the period to 31 March 2025.**
**A Reconciliation of net movement in funds to net cash used in operating activities**
|**Net movement in funds (as per the statement of financial activities)**
**Adjustments for:**
Net (gains) losses on investments
Investment income and interest receivable
Decrease (increase) in debtors
Decrease in creditors
**Net cash generated by (used in) operating activities**
**B Analysis of net debt i.e. cash and cash equivalents**
Cash at bank and in hand
Cash held by investment managers
**Total cash and cash equivalents**|**2025**
£
**(291,444)**
**(310)**
**(5,876)**
**615,000**
**13,658**
**331,028**
1 April
2024
£
5,074
978
6,052|2024
£
592,678
98
(1,730)
(615,000)
(1,808)
(25,762)
£
335,776
407
336,183
Cash flows|31 March
2025
£
**340,850**
**1,385**
**342,235**|
|---|---|---|---|
Acc 3
Chapel Trust Maryton Carmel **Principal accounting policies**
31 March 2025
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
## **Basis of preparation**
These accounts have been prepared for the year ended 31 March 2025 with comparative information given in respect to the year ended 31 March 2024.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nearest pound.
## **Critical accounting estimates and areas of judgement**
Preparation of the accounts of the charity requires the trustees to make significant judgements and estimates.
The items in the accounts where these judgements and estimates have been made include:
- determining the probability of the receipt of legacies which are measurable and to which the charity is entitled;
- assessing the value of legacy debtors;
- estimating future income and expenditure for the purpose of assessing going concern.
## **Assessment of going concern**
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.
The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concerns. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
With regard to the next accounting period, the year ending 31 March 2026, the most significant issue that may affect the charity’s financial position is: the volatility in world investment markets which may cause the market value of the charity’s investments to rise or fall.
The most significant areas of judgement that affect items in the accounts of the charity are detailed above.
Acc 4
Chapel Trust Maryton Carmel **Principal accounting policies**
31 March 2025
## **Income recognition**
Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.
Income comprises donations, legacies, investment income, interest receivable, and other income.
Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
In accordance with the Charities SORP FRS 102, no value has been placed on services provided by volunteers.
Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity. Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs, including governance costs. The classification between activities is as follows:
Expenditure on raising funds comprises investment management fees.
The provision of grants and donations relating, in the main, to the support of the Carmelite Community, Maryton and the support of other charitable organisations. Charitable grants and donations are made where the trustees believe there is a real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for any grants and donations approved but unpaid at the end of the financial year.
All expenditure is stated inclusive of irrecoverable VAT.
Acc 5
Chapel Trust Maryton Carmel **Principal accounting policies**
31 March 2025
## **Support and governance costs**
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures
Governance costs comprise the costs involving the public accountability of the charity (including independent examiner's costs) and costs in respect to its compliance with regulation and good practice.
## **Fixed asset investments**
Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
The charity does not acquire put options, derivatives or other complex financial instruments.
As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains (and losses) are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
## **Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
## **Fund structure**
The funds of the charity are unrestricted and therefore are available for use in furtherance of the charity’s objectives (as appropriate) at the discretion of the trustees.
Acc 6
Chapel Trust Maryton Carmel Notes to the accounts 31 March 2025
## **1. Donations and legacies**
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2025 2024
£ £
Donations 1,995 2,183
Legacies 16,410 615,000
Stipends (Mass offerings) 1,355 1,357
19,760 618,540
2. Investments and interest receivable
2025 2024
£ £
UK listed investments: 635 1,016
Overseas listed investments 576 523
1,211 1,539
Interest
. Cash held by investment managers 39 80
. Deposit interest 4,626 111
5,876 1,730
3. Donations and grants
2025 2024
£ £
Donations of £5,000 or more to institutions
Age UK 6,000 -
Aid to Church in Need 55,000 -
Alzheimers Society 5,000 -
Barnados 5,000 -
CAFOD 51,000 -
Carers Trust 5,000 -
Carmelite Priory, Boars Hill, oxford 20,000 -
CRISIS 10,000 -
Discalced Carmelites Multipurpose Social Service Society 5,000 -
Little Way Association 6,000 -
Magic Breakfast 5,000 -
Marie Curie 10,000 -
Mary's Wheals 11,000 -
NBIL CIC 10,000 -
Royal Voluntary Service 5,000 -
Salvation Army 10,000 -
St Mungos 5,000 -
Saint Vincent de Paul Society 5,000 -
The Iraneus Project 30,000 -
The Passage 10,000 -
UNHCR 5,000 -
274,000 -
Other donations to institutions (less than £5,000) 9,008 12,628
283,008 12,628
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Acc 7
Chapel Trust Maryton Carmel Notes to the accounts 31 March 2025
## **4. Operation of the Chapel at Maryton Grange**
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2025 2024
£ £
Provision of Mass, the support of clergy and ongoing liturgical costs 9,462 6,355
Repairs and maintenance 13,729 3,077
-
Insurance and utility costs 13,110
Support costs
. Preparation of accounts and tax review 1,000 3,342
. Independent examiner's fee 1,000 1,000
. Legal fees - 840
. Bank charges - 47
. Miscellaneous expenses 86 -
38,387 14,661
5. Net (expenditure) income for the year before net investment gains (losses)
This is stated after charging:
2025 2024
£ £
Staff costs - -
Independent examiner's fees
. This year 1,000 1,000
- -
. Previous year
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## **6. Staff costs and trustees’ remuneration and expenses and key management personnel**
The charity did not have any employees during 2025 or 2024.
The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis.
The charity supports the work of Carmelite Mosastery where the trustees reside through the occassional grant or donation.
There were no other related party transactions requiring disclosure (2024 – none).
## **7. Taxation**
Chapel Trust Maryton Carmel is a registered charity and, therefore, is not liable to income tax or corporation tax on income and gains derived from charitable activities income or gains derived from its charitable activities as they fall within the exemptions available to registered charities
Acc 8
Chapel Trust Maryton Carmel Notes to the accounts 31 March 2025
## **8. Fixed asset investments**
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2025 2024
£ £
Listed investments
Market value (fair value) at 1 April 2024 35,720 46,161
Additions 8,152 -
Disposals
..Proceeds (7,431) (10,343)
Realised gains (losses) 510 (240)
Disposals at net book value (6,921) (10,583)
Net unrealised investment (losses) gains (200) 142
Market value (fair value) at 31 March 2025 36,751 35,720
Cash held by investment manager 1,385 978
Total 38,136 36,698
Cost of listed investments at 31 March 2025 34,494 32,465
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At 31 March 2025 the following individual holdings were deemed material when compared with the overall portfolio valuation as at that date.
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||||
|---|---|---|
|% of|
|£|portfolio|
|MI Select Managers Bond Fund Institutional Distribution|4,860|13.2%|
|Franklin Templeton Funds ClearBridge Global Infrastructure Income Fund S|4,962|13.5%|
|IFSL Evenlode Global Income Fund F Income GBP DIS|5,576|15.2%|
|SSGA SPDR ETFS Europe I PLC SPDR S&P 500 ETF USD NAV|4,287|11.7%|
**----- End of picture text -----**
Acc 9
Chapel Trust Maryton Carmel Notes to the accounts 31 March 2025
## **9 Debtors**
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2025 2024
£ £
Legacy receivable - 615,000
10 Creditors: amounts falling due within one year
2025 2024
£ £
Donations payable 15,000 -
Accrued expenses 3,000 4,342
18,000 4,342
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## **11 Unrealised gains on investments**
The total unrealised gains as at 31 March 2025 constitute movements on revaluation of listed investments and were as follows:
|**Total unrealised gains on investments included above:**
**Reconciliation of movements in unrealised gains**
Unrealised gains at 1 April 2024
On disposals
Add: net (losses) gains arising on revaluation in the year
Unrealised gains at 31 March 2025|**2025**
**£**
**2,257**
**3,255**
**(798)**
**(200)**
**2,257**|2024
£
**3,255**
2,784
329
142
**3,255**|
|---|---|---|
## **12. Ultimate control**
The charity, which is constituted as a Trust, was controlled throughout the period by the trustees. Assets and liabilities of the trust are vested in the trustees of the charity, who undertake all transactions entered into in the course of the charity’s charitable activities.
Acc 10