**REGISTERED CHARITY NUMBER: 258597** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2025** ## **FOR** ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 5 April 2025** |||**Page**|| |---|---|---|---| |**Reference and administrative details**||1|| |**Report of the trustees**|2|to|3| |**Independent examiner's report**||4|| |**Statement of financial activities**||5|| |**Balance sheet**||6|| |**Notes to the financial statements**|7|to|11| |**Detailed statement of financial activities**||12|| **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** **REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 5 April 2025** |**TRUSTEES**|Roger Laird de Freitas Esq| |---|---| ||St Andrews Trustees Limited| |**PRINCIPAL ADDRESS**|C/o Charles Russell Speechlys LLP| ||5 Fleet Place| ||London| ||EC4M 7RD| |**REGISTERED CHARITY NUMBER**|258597| |**INDEPENDENT EXAMINER**|Berringers LLP| ||Chartered Accountants| ||Lygon House| ||50 London Road| ||Bromley| ||Kent| ||BR1 3RA| |**SOLICITORS**|Charles Russell Speechlys| ||5 Fleet Place| ||London| ||EC4M 7RD| |**INVESTMENT MANAGERS**|Investec Wealth and Investment Ltd| ||30 Gresham Street| ||London| ||EC2V 7QN| |**BANKERS**|Barclays Bank PLC| ||147 Holborn| ||London| ||EC1N 2NU| Page 1 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES for the year ended 5 April 2025** The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of 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 main objective of the trust is to benefit UK charitable organisations and voluntary umbrella bodies which seek: - to conserve countryside and environment in rural Britain; - to preserve Britain's cultural heritage; - to assist the underprivileged through community facilities and services, advice centres and community arts and recreation; ## **TYPES OF APPLICATION SUPPORTED** Feasibility studies; specific or one-off projects; very occasionally budget support or start-up costs. Projects should if possible generate employment even if only in the short term. Grants can be made to registered charities only. They cannot be made to individuals, or to charities on behalf of individuals. Charities concerned with medical or health matters, or with physical, mental or sensory impairments, will not be funded. Once a year the Trustees may respond to a national or international humanitarian crisis, which may be outside the terms of reference of the Trust. ## **ORGANISATION** The trust was established by the late Sir Geoffrey and Lady de Freitas by a deed of trust dated 24 March 1969. The trust is registered in the United Kingdom with the Charity Commission under number 258597. The trust is also registered with HMRC under Reference Number XN 25318. ## **ADMINISTRATION** The trust deed contains a provision allowing the trust to be wound up altogether in which case the investments would be sold and distributed between suitable charities. It is envisaged, however, that the trust would only be wound up in the event that no member of the de Freitas family in the future was willing for it to continue. ## **DEVELOPMENT IN THE YEAR** The trust's income is derived from its investments and interest earned. The income is usually distributed by way of charitable donations at the discretion of the trustees. No donations have been made in the last three years. ## **PUBLIC BENEFIT** The Trustees confirm that they have complied with their duty to have regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties Page 2 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES for the year ended 5 April 2025** ## **FINANCIAL REVIEW** The statement of financial activities for the year is shown on page 5 of the accounts. ## **THE CHARITY'S ASSETS** The investments are held by Investec Wealth and Investments and registered in their nominee company. ## **INVESTMENT POLICY** The charity has a portfolio of investments with a market value of £931,002 as at 5 April 2025 (£991,871 at 5 April 2024). It is managed by Investec Wealth and Investment Limited. The investment managers operate within specific guidelines, which are set out in the Trustees Investment Policy Statement, and regularly reviewed by the trustees. The investment managers' objectives are to maximise total return through a diversified portfolio of medium risk investments in fixed interest, UK equities and collective investments, whilst providing a level of income advised by the trustees from time to time. ## **RISK MANAGEMENT STATEMENT** The Trustees have identified a falling income return and capital base, from the investment portfolio, as the major area of risk facing the charity. An investment policy statement has been written and agreed by the Trustees with the investment advisors and a regular review of the investment portfolio is maintained, in order to mitigate risk. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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. Approved by order of the board of trustees on ............................................. and signed on its behalf by: 04/02/2026 .......................................................................... Trustee Page 3 INDEPENDENT Ek4illLNER'S REPORT TO THE TRLSTEES OF THE HELEJ &. GEOFFREI, DE FREIT.4S CHARITABLE TRusr Independent examlhtr'$ rrport to the trnsttts of The Heltn & GeoffreTr de Freitas Charitable Trust l Twrt to the chariry tru5*¢s on my examin*i(m of the accwits of Tr Helen & Geoffrey d¢ Freiw Chan'ttble TnL5t (the Tru5¢1 foT ihe year ended 5 April 2025. R¢$pottslbllltles and basis of report As the rhatity trust￿5 of the Trusr you are r¢S￿)￿$1b1t for the prePtr￿ of th¢ acC(K￿ts in accordance with the requirements of the ChaTitit5 Act 2011 Ilhe Acn. I rwrt in r¢sp¢cr of my eLqtDination of the T￿￿￿S acc(Mmts caTried out under Section 145 of the Aet and in crying ou¢ my examinaiiim I hav¢ followed applicthe DJ"redion5 givo by th¢ Charity Conmisston undet Se¢iM)n 14515Mbl of the ACL Indepekndent examlner's ststtm¢tti I have completed rny ¢xaminaiioJL I tonfirm Do material mat*rs hav¢ cotne to my attention in connection with the ¢xwnination giving me cau5¢ to klieve that ith arty rnateTial r¢S￿L accourtling rewrds were not k￿1 in rtsrttt of th¢ Tnwa5 rcquira by Stttion 130 of the ACL or the accounts do not accoTd with those Teconts: or the accounts do T￿1 comply with th¢ awlieable r¢quir¢m¢nts concerning the form al￿ contrni of a¢¢ounts set out in the Charities IAccounrs aJMI Reponsl Regulations ?(K)8 other than ally rtqts2wn¢nt that the accwits give a true and fair view wh￿h is rtoi a rnaller Co￿ld￿rd a5 Part of an indep•thni ¢uminatiok. I Iwe no conc¢rns artd have ￿rne acrtss no othcr matkrn LE) c(Yffleaion w'ith the examil￿tion to which attenti￿ should be dram￿ in this report in order io ¢nablt a understsndill&* of the ac£ouDS w be reachoj. Paul S Allatk BS￿SC FCA Bertingers LLP Cha]T¢r¢d Accountat Lygon House 50 London Road Bromlry Keni BRI 31L4 Da*. .*-. .1-. .l.E.-..................... Pa8e 4 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2025** |Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Other support costs
**Total**
Net gains on investments
**NET INCOME**
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2025**
**Unrestricted**
**fund**
**£**
**28,438**
**7,773**
**10,080**
**17,853**
**64,795**
**75,380**
**(116,196)**
**(40,816)**
**1,100,523**
**1,059,707**|2024
Total
funds
£
29,038
8,733
4,290
13,023
59,591
75,606
(11,550)
64,056
1,036,467
1,100,523| |---|---|---| The notes form part of these financial statements Page 5 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **BALANCE SHEET 5 April 2025** |Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|**2025**
**Unrestricted**
**fund**
**£**
**931,002**
**1,279**
**135,106**
**136,385**
**(7,680)**
**128,705**
**1,059,707**
**1,059,707**
**1,059,707**
**1,059,707**|2024
Total
funds
£
991,871
1,279
111,663
112,942
(4,290)
108,652
1,100,523
1,100,523
1,100,523
1,100,523| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Trustee The notes form part of these financial statements Page 6 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Going Concern** The financial statements have been prepared on a going concern basis. Trustees have assessed the Charity's ability to continue as a going concern for at least 12 months from the date of approval of the financial statements. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Fixed assets investments** Quoted assets investments are stated at mid-market value at the balance sheet date. Realised gains and losses on disposals of investments and unrealised gains and losses are credited to / deducted from the Capital Accounts. continued... Page 7 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025** ## **2. INVESTMENT INCOME** |UK dividends
UK interest
UK REITs
Foreign income
Foreign tax paid
**3.**
**RAISING FUNDS**
**Investment management costs**
Investment advice
**4.**
**SUPPORT COSTS**
Other support costs|**2025**
2024
**£**
£
**9,890**
11,574
**2,876**
5,534
**2,107**
2,699
**14,247**
9,758
**(682)**
(527)
**28,438**
29,038
**2025**
2024
**£**
£
**7,773**
8,733
Governance
costs
£
**10,080**| |---|---| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **6. STAFF COSTS** There were no staff during the year. (2024:nil) continued... Page 8 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025** |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Other support costs
**Total**
Net gains on investments
**NET INCOME**
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 6 April 2024
Additions
Disposals
Revaluations
Equalisations
At 5 April 2025
**NET BOOK VALUE**
At 5 April 2025
At 5 April 2024|Unrestricted
fund
£
29,038
8,733
4,290
13,023
59,591
75,606
(11,550)
64,056
1,036,467
1,100,523
Listed
investments
£
**991,871**
**221,659**
**(230,871)**
**(51,401)**
**(256)**
**931,002**
**931,002**
991,871| |---|---| continued... Page 9 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025** ## **8. FIXED ASSET INVESTMENTS - continued** There were no investment assets outside the UK. There were no holdings which exceed 5% of the entire portfolio. Historical book cost at 5 April 2025 was £932,765 (2024: £875,251). ## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Income tax repayment claim
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
At 6.4.24
£
**Unrestricted funds**
General fund
**1,100,523**
**TOTAL FUNDS**
**1,100,523**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**28,438**
**(17,853)**
**TOTAL FUNDS**
**28,438**
**(17,853)**|**2025**
**£**
**1,279**
**2025**
**£**
**7,680**
Net
movement
in funds
£
**(40,816)**
**(40,816)**
Gains and
losses
£
**(51,401)**
**(51,401)**|2024
£
1,279
2024
£
4,290
At
5.4.25
£
**1,059,707**
**1,059,707**
Movement
in funds
£
**(40,816)**
**(40,816)**| |---|---|---| continued... Page 10 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 6.4.23
£
**Unrestricted funds**
General fund
1,036,467
**TOTAL FUNDS**
1,036,467
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
29,038
(13,023)
**TOTAL FUNDS**
29,038
(13,023)|Net
movement
in funds
£
64,056
64,056
Gains and
losses
£
48,041
48,041|At
5.4.24
£
1,100,523|At
5.4.24
£
1,100,523| |---|---|---|---| |||1,100,523|| |||Movement
in funds
£
64,056
64,056|| ||||64,056| ## **12. RELATED PARTY DISCLOSURES** Legal and professional fees of £6,480 (2024 - £4,290) were paid to Charles Russell Speechlys LLP, the 100% parent company of the corporate trustee St Andrew Trustees Limited. Page 11 ## **THE HELEN & GEOFFREY DE FREITAS CHARITABLE TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2025** |**for the year ended 5 April**|**2025**|| |---|---|---| ||2025|2024| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Investment income**||| |UK dividends|**9,890**|11,574| |UK interest|**2,876**|5,534| |UK REITs|**2,107**|2,699| |Foreign income|**14,247**|9,758| |Foreign tax paid|**(682)**|(527)| ||**28,438**|29,038| |**Total incoming resources**|**28,438**|29,038| |**EXPENDITURE**||| |**Investment management costs**||| |Investment advice|**7,773**|8,733| |**Support costs**||| |**Governance costs**||| |Independent examination|**3,600**|-| |Legal & professional fees|**6,480**|4,290| ||**10,080**|4,290| |Total resources expended|**17,853**|13,023| |**Net income before gains and losses**|**10,585**|16,015| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|**64,795**|59,591| |**Net income**|**75,380**|75,606| This page does not form part of the statutory financial statements Page 12