THE EVELYN MAY TRUST
ACCOUNTS FOR THE YEAR ENDED
31 DECEMBER 2025
Registered Charity No. 261038
THE EVELYN MAY TRUST
TRUSTEES ANNUAL REPORT Year ended 31 December 2025
The Trustees present their annual report together with accounts for the year ended 31 December 2025. The accounts have been prepared in accordance with the Trust Deed and the Charities Act 2011.
Trustees
Ms Kim Gray Mrs J McDermid Mrs L Webb
Principal address
Nockold’s Solicitors Ltd
6 Market Square Bishop’s Stortford Hertfordshire CM23 3UZ
Investment managers
Quilter Cheviot Senator House 85 Queen Victoria Street London EC4V 4AB
Solicitors
Nockold’s Solicitors Ltd 6 Market Square Bishop’s Stortford Hertfordshire CM23 3UZ
Independent Examiner
The MHH Partnership Suite 5, Ebenezer House Rooks Street Cottenham Cambridges CB24 8QZ
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Structure, governance and management
The Evelyn May Trust was established by a trust deed dated 20 January 1970, having been settled by Evelyn May Riddoch during her lifetime and was the residuary beneficiary of her estate. The purpose of the charity is to provide grants to causes of interest to the settlor namely the advancement of education; relief of poverty and sickness; supporting conservation and heritage; relief of the aged and disabled; supporting social welfare and the Christian religion.
New Trustees are nominated by the serving Trustees and appointed by a deed. Trustees are inducted by receiving a copy of the Trust Deed, the most recent annual accounts, and a copy of guidance from the Charity Commission on the role of a Trustee.
Risk management
The Trustees have reviewed the risks to which the Trust may be subject and resolved that there are no significant risks that need to be provided for.
Objectives and Activities
The Trust awards grants to charities selected by the Trustees at their annual meeting. Applications received during the course of the year are retained and considered. In identifying charitable activities that the Trustees will support and in deciding the aims of the trust and its grant making objectives, the Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit. The Trustees’ main areas of interests are education; heritage; social welfare; relief of sickness and poverty; relief of aged and disabled persons and Christian religion. The Trustees only make grants to other registered charities as they consider that such charities, established as they are for public benefit, are best placed to further their charitable objectives. The main focus for charitable giving in the year ending 31 December 2025 was charities aiming to relieve or prevent sickness with an emphasis on those between the age of 18-70 years. The only additional criteria set was that the applicant charities should have income of less than £1.5m and be UK based. The Trustees received in excess of 200 applications during the year of which 12 were shortlisted for consideration. Of these, 9 applications were approved for funding. The Trustees also agreed that they would consider requests for larger grants if it was felt appropriate. Two such grants were approved in the year.
Achievements and performance
The Trust received a total income of £27,354. The Trustees held three meetings during the year and authorised grants totalling £120,820. The Trustees considered applications under the following categories with an emphasis in the year on charities aiming to relieve or prevent sickness with an emphasis on those between the age of 18-70 years.
Education Heritage Social welfare Relief of sickness and poverty Relief of the aged and disabled persons Christian Religion
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Financial Review
Reserves Policy
The Trust’s funds are wholly unrestricted, with a capital fund of £921,485 (2024 £979,066), which the Trustees have resolved will primarily be maintained to provide income for grant making until the trustees resolve otherwise, and an unrestricted income fund of £18,035 (2024 £14,681). The income fund had a surplus of income over expenditure in the year of £3,354 (2024 £7,133). It is the Trustees’ present policy to distribute all income by way of grants. Where necessary the Trustees will transfer funds from capital to meet the payment of grants. It is the policy of the Trustees to pay all support costs from the capital fund. During the year a transfer was made from the capital fund to the income fund in the sum of £96,820 to facilitate grant making.
Investment Policy
The Trust’s funds are wholly invested in the Quilter Investors Limited Global Income & Growth Fund (GIG Fund). Fees relating to the management of this fund are built into the valuation.
The investment portfolio is managed by Quilter Cheviot, who act in accordance with the investment policy which has been agreed by the Trustees and which is reviewed on a regular basis.
Future Plans
The Trustees intend to continue providing grants to registered charities in line with their objectives. The Trustees also agreed that, in light of the difficulties in recruiting new Trustees, they would begin making a small number of substantial grants from capital with a view to winding up the Trust over the next few years. These additional grants would be, in the main, to charities already known to the Trust and the original settlor.
For the coming year the Trustees resolved that they would continue to support UK based charities with an income of up to £1.5 million. The focus of the funding would be for charities supporting children with mental health issues and also those facing poverty. The Trustees would also actively seek out charities that protect the natural environment and support conservation projects.
Trustee
19 August 2026
Date
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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
THE EVELYN MAY TRUST
We report on the accounts of the Trust for the year ended 31 December 2025, which are set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts (under section 145 of the 2011 Act)
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under s145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with s130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
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have not been met; or
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2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
26 August 2026 DATE …………………………….
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THE EVELYN MAY TRUST
STATEMENT OF FINANCIAL ACTIVIITES (Receipts and Payments Basis) Year ending 31 December 2025
| Unrestricted Income Fund 2025 Note Receipts Investment income 3 27,354 27,354 Payments Charitable donations 4 120,820 Management and Administration 5 - 120,820 Net Incoming/(outgoing) resources before transfers (93,466) Transfers between funds 96,820 Net Incoming/(outgoing) resources 3,354 before revaluations and investment asset disposals Net gain/(loss) on revaluation of investments 7 - Other investment gains/(losses) - Net movement in funds 3,354 Fund balances as at 31 December 2024 14,681 Fund balances as at 31 December 2025 18,035 |
Unrestricted Capital Fund 2025 - - - 31,834 31,834 (31,834) (96,820) (128,654) 71,073 - (57,581) 979,066 921,485 |
Total Funds 2025 2024 27,354 30,053 27,354 30,053 120,820 29,000 31,834 24,711 152,654 53,711 (125,300) (23,658) - - (125,300) (23,658) 71,073 55,148 - - (54,227) 31,490 993,747 962,257 939,520 993,747 |
|---|---|---|
- 5 -
THE EVELYN MAY TRUST
STATEMENT OF ASSETS AND LIABILITES as at 31 December 2025
| Unrestricted Income Fund 2025 MONETARY ASSETS Note CURRENT ASSETS Cash at Bank and In Hand Quilter Cheviot Income Account 18,035 Solicitors Client Account - Current Asset Investments Quilter Cheviot Capital Account - Monetary assets as at 31 December 2025 18,035 NON-MONETARY ASSETS FIXED ASSETS Investment Portfolio 7 - TOTAL ASSETS as at 31 December 2025 8 18,035 CURRENT LIABILITIES - - Approved by the Trustees on and signed on their behalf by 19 August |
Unrestricted Income Fund 2025 MONETARY ASSETS Note CURRENT ASSETS Cash at Bank and In Hand Quilter Cheviot Income Account 18,035 Solicitors Client Account - Current Asset Investments Quilter Cheviot Capital Account - Monetary assets as at 31 December 2025 18,035 NON-MONETARY ASSETS FIXED ASSETS Investment Portfolio 7 - TOTAL ASSETS as at 31 December 2025 8 18,035 CURRENT LIABILITIES - - Approved by the Trustees on and signed on their behalf by 19 August |
Unrestricted Capital Fund 2025 - - - |
Total Funds 2025 18,035 - - |
Total Funds 2024 14,681 - - |
|---|---|---|---|---|
| 18,035 | - | 18,035 | 14,681 | |
| - | 921,485 | 921,485 | 979,066 | |
| 18,035 | 921,485 | 939,520 | 993,747 | |
| - | - | - | - | |
| - | - | - | - | |
| 2026 |
Trustee
- 6 -
THE EVELYN MAY TRUST
NOTES TO THE ACCOUNTS
1 TRUSTEES’ RESPONSIBILITIES
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 charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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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 accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
2 ACCOUNTING POLICIES
Accounting convention and standards
The accounts are prepared on the receipts and payments basis with a Schedule of Investments prepared under the historical cost convention to include the revaluation of fixed asset investments and in accordance with the Charities Act 2011 and the Trust Deed.
Investment income
Income from investments is taken into account by reference to the date on which the income is received by the Trust.
Resources expended
Expenditure is included as it arises.
Costs of generating funds comprise those costs directly attributable to managing the investment portfolio and raising investment income. The Trusts funds are now fully invested in UK authorised unit trusts. The cost of managing the fund is incorporated within the year end revaluation of investments and is taken as an ongoing percentage by the fund managers.
Management and administration comprises the costs of running the charity.
Listed investments
Listed investments are stated at closing mid-market value at the balance sheet date.
Realised gains and losses arising during the year and any unrealised gains or losses at the year end are recognised within the statement of financial activities. Realised gains on the disposal of investments are calculated as the surplus of sale proceeds over the carrying value of those investments at the beginning of the year.
Taxation
The Trust, being a charity, is not liable for income tax or corporation tax. Value Added Tax is not recoverable and is included in the relevant charges for administration expenses.
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THE EVELYN MAY TRUST
3 INVESTMENT INCOME
| 4 CHARITABLE DONATIONS Grants were authorised to the following charities: Tendring Community Trust Richard House Trust Us in a Bus OPA Cancer Charity MACS Anne Robson Trust Dereham Cancer Care Dressability Cystic Fibrosis ExeAccess Interact Stroke Support 5 MANAGEMENT AND ADMINISTRATION OF THE CHARITY Investment portfolio Interest Support Costs: Administration charges Governance Costs: Independent Examination Fee Accountancy Fee Trustee expenses Other |
£ 73,320.00 23,500.00 2,000.00 2,000.00 2,000.00 6,000.00 2,000.00 2,000.00 1,500.00 4,000.00 2,500.00 120,820 2025 £ 27,334 20 27,354 2025 £ 29,934 900 1,000 - - 1,900 31,834 |
2024 £ 30,053 - |
||
|---|---|---|---|---|
| 30,053 | ||||
| 2024 £ 22,806 900 1,000 5 - |
||||
| 1,905 | ||||
| 23,505 |
There were Trustee expenses in the year of £0 (2024 - £5).
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THE EVELYN MAY TRUST
6 FIXED ASSET INVESTMENTS
| Listed investments are made up as follows: UK Authorised unit trusts and OEICs Market value as at 31 December 2024 Additions Disposals Net realised and unrealised investment losses Market value as at 31 December 2025 Historical cost as at 31 December 2025 |
921,485 __ 921,485 2025 £ 979,066 - (128,654) 71,073 921,485 741,257 |
2024 £ 954,739 - (30,821) 55,148 |
|
|---|---|---|---|
| 979,066 | |||
| 979,066 __ 979,066 849,681 |
7 FUNDS
The Trust Fund is wholly unrestricted. For management purposes, the Trustees have designated that the Trust’s capital and capital profit, after deduction of cost of generating funds and the management and administration of the charity, will be retained and carried forward in a Capital Fund. The Trustees have resolved that all costs of administering the Trust should be paid from the capital fund. The Income Fund and income profits are utilised for awarding annual grants. During the year the Trustees authorised a transfer from capital to facilitate additional grant making in the sum of £96,820 (2024 - £0).
8 CONNECTED PARTY TRANSACTIONS
During the year the administration of the Trust was carried out by Nockolds Solicitors, a firm in which Trustee, Ms K Gray, is employed as a solicitor. Administration and management fees of £29,934 (including VAT) (2024 - £22,806 inc VAT) were paid to Nockolds Solicitors during the year.
All the above transactions were at arms length and on a normal commercial basis.
No Trustee received any remuneration. Trustees’ expenses are shown under 5 above.
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