## **REGISTERED CHARITY NUMBER: 264515**
**THE IAN ASKEW CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS**
**5 APRIL 2025**
**THE IAN ASKEW CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**Trustees:**|Mr RAR Askew|(retired 8 November 2024)|
|---|---|---|
||Mr JB Rank – Chairman||
||Mrs HCR Marshall||
||Mrs V St Q Harrison||
||Mr KJR Buckland||
|**Principal Address:**|Coney Hall||
||Sharpsbridge Lane||
||Newick||
||East Sussex||
||BN8 4SA||
|**Charity Number:**|264515||
|**Auditor:**|RSM UK Audit LLP||
||Highfield Court, Tollgate||
||Chandlers Ford||
||Eastleigh||
||Hampshire||
||SO53 3TY||
|**Bankers:**|Barclays Bank Plc||
||Leicester||
||LE87 2BB||
|**Estate managers:**|Strutt & Parker||
||201 High Street||
||Lewes||
||East Sussex||
||BN7 2NR||
|**Solicitors:**|Charles Russell Speechlys LLP||
||5 Fleet Place||
||London||
||EC4M 7RD||
|**Investment managers:**|CCLA Fund Managers Limited||
||One Angel Lane||
||London||
||EC4R 3AB||
- 1 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
The Trustees present their annual report and financial statements of the charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 22 August 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 22 August 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Structure, governance and management**
The Ian Askew Charitable Trust is an unincorporated registered charity established by a Deed of Settlement dated 9 May 1972. Under its constitution and provisions, the Trust Fund and income thereon are held for such charitable objects or purposes as the Trustees shall in their absolute discretion think fit.
The Plashett Estate is part of the Trust Fund comprising farmland, woodlands and various residential properties which are tenanted. The main part of the Woodlands is designated as a Site of Special Scientific Interest, as the Estate has historic associations, and because of the flora and fauna.
On 3 November 1997 the Trustees created a sub-fund for the Advancement of Education and associated activities. Accordingly, Plashett Wood, No 4 Plashett Park Gates and the Sawmills Building are designated as “The Educational sub-fund”. The woodlands and buildings of The Educational sub-fund comprise heritage assets.
A further sub-fund designated “The Conservation Fund” was created when Mr I V Askew gifted shares at the value of £100,003 on 28 June 1998 for the conservation and restoration of historic buildings for the benefit of the public. Mr Askew added further shares with a value of £49,608 on 28 March 2007 and made a cash gift on 25 February 2011 as detailed below.
On 31 March 2007 the Trustees accepted the net assets and liabilities of the Dorothy Askew Trust (registered charity number 286088), amounting to £558,908, into the Estate Fund. The use of these funds is not restricted. The transfer also included the transfer of title to the Trustees of the Buxshalls Chapel, which is considered to be a heritage asset. This asset is not valued. By way of a lease executed on 4 December 2008, Buxshalls Chapel was let on a long lease of 999 years on a peppercorn rent.
On 25 February 2011 the settlor, Mr I V Askew, made Gift Aid donations to the Ian Askew Charitable Trust and to the Ian Askew Conservation Trust amounting to £645,330 and £322,664 respectively, inclusive of the Gift Aid repayments. In addition, the charity and the Conservation Fund respectively received generous legacies of £100,000 and £50,000 plus interest from the estate of Mr I V Askew who died on 14 April 2014. These gifts and legacies have been invested. The income arising thereon enables the charity to sustain the level of its charitable grants.
In the year ending 5 April 2020, the land and kennels at Plashett Estate were transferred to the Trust under the will of Mr I V Askew. The land and kennels have been leased under a 99-year FRI lease to the Sussex Downs Hounds at a peppercorn rent.
The following Trustees held the title of property belonging to the charity during the reporting period: Mr R A R Askew, Mr J B Rank, and Mrs MCR Marshall.
The Trustees had been appointed by the Founder, Mr Ian Askew MC, during his lifetime and by the continuing Trustees thereafter. The minimum number of Trustees is two.
- 2 -
**THE IAN ASKEW CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
The following served as Trustees during the year ended 5 April 2025:
Mr R A R Askew (retired 8 November 2024) Mr J B Rank – Chairman Mrs HCR Marshall Mrs V St Q Harrison Mr K J R Buckland
At the Trustee meeting held on 15 October 2025, it was resolved that Nick Warner be appointed as a Trustee, subject to the completion of all requisite legal formalities.
The induction process for any new Trustee is that they are briefed by the existing Trustees on the charity’s organisational framework, risk management, investments, and the responsibilities of Trustees. They are provided with a copy of the previous year’s accounts and a copy of the Charity Commission’s guidance ‘The Essential Trustee: what you need to know and what you need to do’. The Trustees are kept up to date on matters pertaining to charities including the briefings provided by the Charity Commission and its advisors.
The Trustees meet annually to agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment and risk management policies and performance. The day to day administration of grants and the processing of applications prior to consideration by the Trustees’ Donations Committee’s quarterly meetings, is delegated to an administrator who acts as registered office and RSM UK Tax and Accounting Limited. Strutt & Parker, Chartered Surveyors, manage the Trust’s interests in land and CCLA Fund Managers Limited manage the investment portfolios.
The Trust considers its Board of Trustees to be its key management personnel.
## **Objectives and activities for the public benefit**
The objects of the Trust are the support of other charitable organisations and educational facilities or bodies mainly in the Sussex area by providing grants to them. The majority of these grants were for £1,000 or less, so as to reach a wide number of needy causes. The grants made by the Trust are funded from the income of the Plashett Estate and from income from its investment portfolio.
Grants made by the Conservation Fund for the conservation and restoration of historic buildings are funded where possible from its investment income and also from the Estate Fund.
In the case of the Educational sub-fund, the Trustees are committed to the promotion of education for the public benefit of the Woodlands in the fields of agriculture, horticulture and arboriculture. Expenditure has been incurred primarily to enhance these benefits under the management of Strutt & Parker, the Trustees’ land agents in consultation with Esus Forestry and Woodlands Limited, an independent company specialising in sustainable woodland management.
During the year ended 5 April 2025, 211 educational visits were made to the Woodlands, of which 87 were school visits. Some regular adult classes were held each month.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives, planning future activities and setting the grantmaking policy for the year.
## **Fund raising**
The Trust does not use a professional fundraiser or participator to raise funds to meet its objectives and activities for the public benefit. As explained above, these objectives and activities are achieved, in practice, through the income received from the Plashett Estate and from the Trust's investment portfolio.
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## **THE IAN ASKEW CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **Risk management**
The Trustees have examined the major strategic, business and operational risks which the Trust faces, including those associated with rental and investment income and the maintenance of its property and investment portfolios.
The Trustees confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to manage these risks.
## **Grant making policy**
The Trust invites applications for grants from other charities and organisations generally with a Sussex connection, although national and occasionally international causes will be considered. Applications should be made in writing to the Trust’s principal address, and the Trustees review these every third month and choose the recipients of grants to be made. In addition the Trust may consider applications by or on behalf of individuals for the advancement of their education in certain circumstances. The Conservation Fund is available to fund the conservation and preservation of historic buildings for the benefit of the public.
## **Grant awards**
In January 2017, the Trust entered into an agreement with the Sussex Community Foundation, a registered charity, for an initial period of one year under which a quarterly donation of £5,000 would be paid with the objective of bringing added focus to the Ian Askew Charitable Trust's charitable giving in the Sussex area. They research charitable organisations, specifically in Sussex, who are in need of funding and bring greater focus than the trustees themselves can provide. They make recommendations to the donations committee, who determine with them who will receive grants.
In the year to 5 April 2025 four further tranche payments of £5,000 were made to the Sussex Community Foundation. Please see note 6 in the notes to the financial statements for further expansion.
## **Achievements and performance**
The Estate Fund made grants to 182 charitable organisations during the year ended 5 April 2025 (2024: 237) amounting to £113,100 (2024: £152,705). The recipients of the grants came from a diverse range of backgrounds including some overseas. The Conservation Fund made grants to 25 charitable organisations during the year (2024: 30) amounting to £16,100 (2024: £23,100). The Trustees’ objective for 2024/2025 was to continue making grants at a similar level as in 2023/2024. Total expenditure on charitable activities amounted to £279,964 (2024: £297,170).
## **Monitoring achievement**
The Trustees’ policy has been to maintain the donations made whilst retaining the capital base for investment. The Trustees need to balance their distribution policy with the costs of generating the funds available to distribute. The Plashett Estate properties are in constant need of repair and the Trustees make appropriate provision for this.
## **Financial review**
The Trust is reliant on the income from its investment portfolios and rental income arising from its farmland and residential properties from which grants are made. In aggregate, the Trust’s income from these sources in the year was £540,602 (2024: £470,647).
Expenditure on raising funds and charitable activities amounted to £473,362 (2024: £488,357). Realised and unrealised gains or losses on investment assets and investment properties, including gains or losses arising from their revaluation, amounted to losses of £1,057,506 (2024: £667,830 gains).
The Trust’s net expenditure for the year before transfers between funds and gains on revaluation of heritage assets was £989,766 (2024: £650,120 net income).
A gain on revaluation of heritage property of £15,000 (2024: £nil) arose in the year. The Trust experienced a net decrease in funds for the year of £974,766 (2024: £650,120 increase).
The Trust’s total net assets are at £23,770,606 (2024: £24,745,372) but some of these assets are not income producing.
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## **THE IAN ASKEW CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **Investment policy and performance**
The investment portfolios have been managed by CCLA Fund Managers Limited since November 2023. There is a separate designated investment for the Conservation Fund. Both investments are held in income units in the COIF Charities Investment Fund, a common investment fund, operated by CCLA Fund Managers Limited.
## **Tangible fixed assets**
The Trust’s interests in land, which comprise investment properties and heritage assets, are subject to revaluation annually in accordance with Financial Reporting Standard 102 Statement of Recommended Practice.
The aggregate fair value of the charity’s interests in land and properties as at 5 April 2025 was £21,017,671 (2024: £21,899,577) which includes additions of £nil during the year (2024: £3,850).
The annual revaluation is carried out by Strutt & Parker, chartered surveyors. The revaluation as at 5 April 2025 gave rise to an unrealised and realised loss aggregating £896,906 (2024: £494,228 gain) in the case of the land held by the Estate Fund, and a £15,000 gain (2024: £nil) in respect of the Woodlands.
Following the changes to Agricultural Property Relief made in 2024, the demand for agricultural land has declined and values have fallen significantly.
## **Reserves policy**
The Trustees’ policy is to have available sufficient free reserves in unrestricted funds to be applied for grants and other charitable purposes as are needed from month to month. This includes property and woodland expenses as well as donations and support and governance costs.
The Balance Sheet as at 5 April 2025 discloses that the Trust held unrestricted designated funds of £23,770,606 in aggregate, comprising the Estate Fund £19,061,450, the Educational Sub-fund £4,095,325 and the Conservation Fund £613,831. Of the Trust’s total funds of £23,770,606, £23,566,468 thereof is represented by fixed assets which are employed exclusively by the Trust for meeting its objectives and activities for the public benefit as has been the practice in the past and which will continue for the future.
## **Plans for the future**
The Trustees intend to continue to operate the Trust as in previous years, distributing grants in such a way as to reach as many worthy causes as is practicable. In making grants, the Trustees give due consideration to the wishes of the former Settlor and Trustees of the Dorothy Askew Trust, whose net assets were transferred to The Ian Askew Charitable Trust on 31 March 2007.
## **Going concern**
The Trustees have considered whether it is appropriate to prepare the financial statements on the basis that the Charity is a going concern. In making that assessment the Trustees have considered the period of twelve months from the date of the approval of these financial statements.
Rental income, being the main source of income, is holding up and the Trustees anticipate that it will continue to do so, looking into the future. As a result, it is expected that the Charity will be able to continue its charitable activities and meet its objectives accordingly.
The Trustees, therefore, consider that the going concern basis for the preparation of the financial statements continues to be appropriate.
## **Auditor**
RSM UK Audit LLP have indicated their willingness to be reappointed for another term.
- 5 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **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 including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
- a. select suitable accounting policies and then apply them consistently;
- b. observe the methods and principles in the Charities SORP;
- c. make judgements and accounting estimates that are reasonable and prudent;
- d. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- e. 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 maintaining proper accounting records which 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/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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on their behalf by:
K JRBuckland
**Mr K J R Buckland, Trustee**
02/02/26 **Date:**
- 6 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **Opinion**
We have audited the financial statements of the Ian Askew Charitable Trust for the year ended 5 April 2025 which comprise: the Statement of Financial Activities, Balance Sheet, Statement of Cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the Trustees’ report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Trustees’ report. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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**THE IAN ASKEW CHARITABLE TRUST**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or
- sufficient accounting records have not been kept by the charity; or
- the charity’s financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees’ responsibilities set out on page 6, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
**The extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:
- obtained an understanding of the nature of the sector, including the legal and regulatory framework, that the charity operates in and how the charity is complying with the legal and regulatory framework;
- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;
- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.
- 8 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011 and the charity’s governing document. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents.
The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and challenging judgements and estimates.
A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## RSMUK Audit LLP
RSM UK AUDIT LLP Statutory Auditor Chartered Accountants Highfield Court Tollgate Chandlers Ford Eastleigh Hampshire SO53 3TY
Date: 04/02/26
RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
- 9 -
**THE IAN ASKEW CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**Notes**
**Income from:**
Donations and legacies
2
Investment income
3
Income from charitable
activities
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
Income/(expenditure) before
gains on investment assets
**Realised net losses on**
**investment assets**
11
**Unrealised net**
**(losses)/gains on**
**investment assets**
10/11
**Net (expenditure)/income**
**Transfers between funds**
18
**Net gains on fair value of**
**heritage assets**
10/11
**Net (expenditure)/income**
**and net movement in**
**funds**
**Total funds brought**
**forward**
**Total funds carried**
**forward**|**2025**
**Unrestricted Designated Funds**
**Estate**
**Fund**
**£**
**Educational**
**Sub-Fund**
**£**
**Conservation**
**Fund**
**£**
500
-
-
455,928
14,902
17,903
21,361
30,508
-
_
477,789
45,410
17,903
192,069
1,329
-
177,368
83,096
19,500
369,437
84,425
19,500
108,352
(39,015)
(1,597)
-
-
-
(1,019,295)
-
(38,211)
(910,943)
(39,015)
(39,808)
(47,415)
39,015
8,400
-
15,000
-
(958,358)
15,000
(31,408)
20,019,808
4,080,325
645,239
19,061,450
4,095,325
613,831|**2024**
**Unrestricted**
**Designated**
**Total**
**Funds**
**£**
**Total**
**Funds**
**£**
500
-
488,733
451,232
51,869
19,415
541,102
470,647
193,398
191,187
279,964
297,170
473,362
488,357
67,740
(17,710)
-
(12,730)
(1,057,506)
680,560
(989,766)
650,120
-
-
15,000
-
(974,766)
650,120
24,745,372
24,095,252
23,770,606
24,745,372|
|---|---|---|
- 10 -
**THE IAN ASKEW CHARITABLE TRUST**
## **BALANCE SHEET**
## **AS AT 5 APRIL 2025**
|**Notes**
**Fixed assets**
**Estate fund**
Investment property
10
Investments
11
**Educational sub-fund**
Heritage assets
10
**Conservation fund**
Investments
11
**Total fixed assets**
**Current assets**
Debtors
12
Cash at bank
13
**Total current assets**
**Creditors: amounts falling due within one year**
14
Net current assets
**Total net assets**
**The funds of the charity**
**Unrestricted designated funds:**
Estate fund
18
Educational sub-fund
18
Conservation fund
18
**Total charity funds**|**2025**
**£**
16,922,346
1,942,359
4,095,325
606,438
23,566,468
43,108
241,355
284,463
(80,325)
204,138
23,770,606
19,061,450
4,095,325
613,831
23,770,606|**2024**
**£**
17,819,252
2,064,748
4,080,325
644,649
24,608,974
42,072
179,236
221,308
(84,910)
136,398
24,745,372
20,019,808
4,080,325
645,239
24,745,372|
|---|---|---|
The notes on pages 13 to 25 form part of these accounts.
02/02/26
Approved by the Board of Trustees on ………………… and authorised for issue and signed on their behalf by:
K JRBuckland
## **Mr K J R Buckland, Trustee**
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## **THE IAN ASKEW CHARITABLE TRUST**
## **STATEMENT OF CASH FLOWS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**Notes**
**2025**
**£**
**2025**
**£**
**2024**
**£**
**Net cash used in operating**
**activities**
17
(426,614)
**Cash flows from investing**
**activities:**
Investment income and rents
3
488,733
451,232
Purchase of tangible fixed assets
10
-
(3,850)
Purchase of fixed asset
investments
11
-
(2,910,792)
Proceeds from sale of fixed asset
investments
11
-
2,824,166
**Cash flows provided by**
**investing activities**
488,733
Change in cash and cash
equivalents in year
62,119
Cash and cash equivalents
brought forward
179,236
Cash and cash equivalents carried
forward
241,355
**Represented by:**
Cash at bank
13
241,355
**Analysis of changes in net debt**
**6 April 2024**
**Cashflow**
**Other non-**
**cash**
**changes**
**£**
**£**
**£**
Cash at bank balances
179,236
62,119
-|**2024**
**£**
(367,243)
360,756
(6,487)
185,723
179,236
179,236
**5 April**
**2025**
**£**
241,355|
|---|---|
- 12 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Accounting policies**
## **Basis of preparation and assessment of going concern**
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties and listed investments.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 22 August 2019 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 22 August 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Trust constitutes a public benefit entity as defined by FRS 102.
The Trustees have considered whether it is appropriate to prepare the financial statements on the basis that the Charity is a going concern. In making that assessment the Trustees have considered the period of twelve months from the date of the approval of these financial statements. Rental income, being the main source of income, is holding up and the Trustees anticipate that it will continue to do so, looking into the future. As a result, it is expected that the Charity will be able to continue its charitable activities and meet its objectives accordingly. The Trustees believe that the Charity has sufficient funds to continue its activities for at least twelve months from the date of signing the financial statements and that there are no material uncertainties impacting on that assessment.
## **Investments**
Investments are included in the Balance Sheet at their fair value, provided by CCLA Fund Managers Limited. Realised profits and losses arising on the disposal of investments are calculated by reference to their cost at the beginning of the accounting year or, if purchased during the year, their cost at the time of purchase. Unrealised gains and losses are calculated as the difference between the fair value at the year end and opening fair value (or purchase date if later).
## **Tangible fixed assets**
The Plashett Estate comprises farmland and buildings together with residential property, which are let. The woodlands and related buildings comprising the Educational sub-fund are heritage assets.
In accordance with FRS 102 SORP heritage assets are excluded from the balance sheet in cases where reliable cost information is not available and conventional valuation approaches lack sufficient reliability (see note 16).
None of the freehold properties are depreciated since they are considered by the Trustees’ to be either investment properties or heritage assets. In accordance with the requirements of the FRS 102 SORP these properties are revalued annually to fair value.
## **Cash and cash equivalents**
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.
## **Corporation tax**
The Trust is a registered charity with the Charity Commission and HM Revenue & Customs. As such, it benefits from the tax exemption in Part 10 of Income Tax Act 2007.
- 13 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Accounting policies (continued)**
## **Investment income**
The deposit interest is received gross. Income distributions from the CCLA units are paid quarterly and included when paid.
## **Income from charitable objectives**
All fees and grants received under this heading are accounted for on an accruals basis. In line with FRS 102 SORP, grant income is recognised when the charity is entitled to the funds, any performance conditions attached to the grants have been met, and it is probable that the income will be received and the amount can be reliably measured.
## **Other income**
Sundry income received under this heading is accounted for on a receipts basis as it is not possible to anticipate the income as it is non-recurring.
## **Liabilities**
Liabilities are recognised in the period to which they relate under the accruals basis.
## **Expenditure**
Expenditure is recognised in the period in which it is incurred and is allocated to the particular activity where the cost relates directly to that activity. Irrecoverable VAT borne on expenses is separately disclosed in aggregate in the accounts.
Amounts relating to raising funds are allocated on an accruals basis. Costs allocated under this heading relate to letting of property and administration of the Plashett Estate.
Charitable activities are, again, calculated on an accruals basis. Grants are accounted for when authorised. Costs allocated under this heading relate to the processing of grant applications and the payment of grants. The costs relating to maintenance of the Plashett Estate Woodland are included under this heading as the woodland is used for educational and conservation purposes.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulations and good practice.
## **Designated funds**
These are unrestricted funds earmarked by the Trustees for particular purposes.
The Estate Fund is for general charitable purposes and mainly makes grants from funds generated in excess of funds required to maintain the Trust properties. The Education sub-fund expends funds on the maintenance of the woodlands within the Trust and educational visits to the woodlands. The Conservation Fund is used to fund grants for the maintenance of historic buildings.
## **Financial instruments**
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Basic financial assets**
Basic financial assets, which include trade and other 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
- 14 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Accounting policies (continued)**
## **Basic financial liabilities**
Basic financial liabilities, including trade and other creditors, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
## **Judgements and key sources of estimation uncertainty**
In the application of the Trust’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.
See note 10 to the financial statements for judgements made in respect of fixed assets held for investment purposes. The revaluation in this period has had a significant impact on the financial statements.
|**2**
**Donations and**
**legacies**
Donations
**2024**
**3**
**Investment income**
**Total rental income**
**Equity income:**
Interest
Dividends
Unit distributions
**Bank interest:**
Plashett Estate
accounts
Cazenove income
account
**2024**|**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
500
-
-
500
-
-
-
-
-
**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
391,504
14,902
-
-
-
-
-
-
-
57,340
-
17,903
7,084
-
-
-
-
-
455,928
14,902
17,903
426,236
14,348
10,648|**Total**
**Funds**
**£**
500
500
-
**Total**
**Funds**
**£**
406,406
-
-
75,243
7,084
-
488,733
-|**2024**
**Total**
**Funds**
**£**
-
-
-
**2024**
**Total**
**Funds**
**£**
398,864
7,056
9,145
25,399
7,242
3,526
451,232
451,232|
|---|---|---|---|
- 15 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**4**
**Income from**
**charitable activities**
Woodland maintenance
Grants
Sundry income
**2024**|**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
15,000
17,060
-
6,361
13,448
-
-
-
-
21,361
30,508
-
8,209
11,206
-|**Total**
**Funds**
**£**
32,060
19,809
-
51,869
-|**2024**
**Total**
**Funds**
**£**
11,206
8,059
150
19,415
19,415|
|---|---|---|---|
||Sundry income of £nil (2024:|£150) relates to compensation from the bank in respect of a|£150) relates to compensation from the bank in respect of a|£150) relates to compensation from the bank in respect of a|£150) relates to compensation from the bank in respect of a|£150) relates to compensation from the bank in respect of a|misappropriated|
|---|---|---|---|---|---|---|---|
||cheque.|||||||
||||**2025**||||**2024**|
|**5**|**Raising funds**|**Estate**|**Educational**|**Conservation**||**Total**|**Total**|
|||**Fund**|**Sub-fund**||**Fund**|**Funds**|**Funds**|
|||**£**|**£**||**£**|**£**|**£**|
||Property repairs|87,761|-||-|87,761|89,192|
||Estate management|30,393|-||-|30,393|26,432|
||Rates and water|1,522|-||-|1,522|2,871|
||Subscriptions|701|-||-|701|1,183|
||Insurance|19,731|-||-|19,731|22,503|
||Other estate fees|16,324|-||-|16,324|15,273|
||Irrecoverable VAT|26,318|-||-|26,318|23,530|
||Professional fees|1,790|-||-|1,790|-|
||Rent collection and|7,529|1,329||-|8,858|8,708|
||estate accountancy|||||||
||Investment|-|-||-|-|1,495|
||management fees
|||||||
|||192,069|1,329||-|193,398|191,187|
||**2024**|183,751|6,569||867|-|191,187|
||||**2025**||||**2024**|
|**6**|**Charitable activities**|**Estate**|**Educational**|**Conservation**||**Total**|**Total**|
|||**Fund**|**Sub-fund**||**Fund**|**Funds**|**Funds**|
|||**£**|**£**||**£**|**£**|**£**|
||Grants paid*|128,460|-||16,100|144,560|190,445|
||Woodland expenditure|-|79,696||-|79,696|51,704|
||Governance costs
|48,908
|3,400||3,400|55,708|55,021|
|||177,368|83,096||19,500|279,964|297,170|
||**2024**|215,566|55,104||26,500|-|297,170|
* Estate fund grants paid of £128,460 (2024: £167,345) comprises grant payments made of £113,100 and support costs of £15,360 (2024: grant payments of £152,705 and support costs of £14,640).
- 16 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **6 Charitable activities (continued)**
Included within charitable activities are costs totalling £55,708 (2024: £55,021) in respect of governance costs comprised of:
|**Governance costs**
Auditor’s remuneration
Accountancy and tax
Legal and professional
Irrecoverable VAT
**2024**|**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
23,225
1,000
1,000
10,600
1,000
1,000
8,318
1,000
1,000
6,790
400
400
48,933
3,400
3,400
48,221
3,400
3,400|**Total**
**Funds**
**£**
25,225
12,600
10,318
7,590
55,733
-|**2024**
**Total**
**Funds**
**£**
23,400
12,000
12,538
7,083
55,021
55,021|
|---|---|---|---|
## **Estate fund**
Grants were payable to 184 charitable organisations during the year (2024: 237). Grants made of £1,000 or more (either single or multiple donations) were as follows:
|
ASPIRE (Association for Spinal Injury Research, Rehabilitation and
Reintegration)
Asthma Relief
Beachy Head Chaplaincy Team Ltd
Become Charity
Bipolar UK Ltd
British Heart Foundation
Chailey Heritage Foundation
Deborah Barton*
DEC Ukraine (Disasters Emergency Committee)
Ditch The Label
Down Syndrome Association
Glyndebourne Productions Limited
Hayley Cox**
Home for Good
Hospice in the Weald
Huntington’s Disease Association
Jamie’s Farm
Joss Searchlight - Children’s Cancer Charity
Marie Curie Cancer Care
Martha Trust
Mission Direct Limited
Multiple Sclerosis Society
My Bridge International UK
Oscar's Paediatric Brain Tumour Charity
Pestalozzi International Foundation
Princess Alice Hospice
Queen Elizabeth Foundation for Disabled People
Royal Brompton and Harefield Hospitals Charity
Carried forward|**2025**
**£**
-
1,000
-
-
-
-
1,000
1,000
-
-
-
1,000
1,500
-
-
-
1,000
-
-
-
-
1,000
-
-
-
-
-
1,000
8,500|**2024**
**£**
1,000
-
1,000
1,000
1,000
1,000
-
-
1,000
1,000
1,000
1,000
-
1,000
1,500
1,000
-
1,000
1,000
1,000
1,000
-
1,000
1,005
1,000
1,000
1,500
-
22,005|
|---|---|---|
- 17 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**6**
**Charitable activities (continued)**
**Estate fund (continued)**
Brought forward
Royal Marines Association
Seashell Trust
Second Chance - A Charity For Children Who Need Special Help
St Barnabas Hospices
St Wilfred’s Hospice (South Coast)
Taylor Made Dreams
The Brainwave Centre Limited
The Cure Parkinson's Trust
The Douglas Bader Foundation (DBF)
The Groundwork South Trust Limited
The Martlets Hospice Limited
The Parochial Church Council of the Ecclesiastical Parish of
Ringmer (Ringmer Parochial) (1131869)
The Sussex Community Foundation
The Theadora Children’s Charity
The Wheelyboat Trust
Time to Talk Befriending
Villiers Park Educational Trust
Whizz-Kidz
Total donations to charitable organisations over £1,000
Grants under £1,000|**2025**
**£**
8,500
-
-
-
-
-
-
-
1,000
-
-
-
1,000
20,000
-
1,000
-
-
-
31,500
81,600
113,100|**2024**
**£**
22,005
1,000
1,000
1,000
1,000
1,000
1,000
1,000
-
1,000
1,000
1,000
1,000
20,000
1,000
-
1,000
1,000
1,500
57,505
95,200
152,705|
|---|---|---|
The donations of £20,000 paid to the Sussex Community Foundation during the year plus some brought forward funds of £4,500 have been distributed to the following organisations: £3,682 to Read for Good, £5,170 to Willow Tree Children’s Support, and £4,334 to Yes Futures. The Sussex Community Foundation have taken a 10% contribution of £2,000 for the administration of these donations and hold a balance of £9,314 as at 5 April 2025.
* The donation to Deborah Barton was in relation to defibrillator installation at Rose Hill, Isfield.
** The donation to Hayley Cox was in relation to classes for vulnerable young children in preparation for engaging in Forest School at Plashett Wood.
Expenditure in relation to the woodlands (used for educational purposes) was as follows:
|Woodland maintenance
Educational visits
Management fees|**2025**
**£**
54,716
6,255
18,725
79,696|**2024**
**£**
34,178
8,166
9,360
51,704|
|---|---|---|
- 18 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **6 Charitable activities (continued)**
## **Conservation fund**
Grants payable to 25 charitable organisations (2024: 30) were paid from this fund during the year:
|Ancient Tree Forum
Brogdale Collections
Bumblebee Conservation Trust
Butterfly Conservation
Christchurch, Blacklands and St Andrews, Hastings
Ditchling Museum of Art + Craft
Earnley Church Wittering
Ecological Continuity Trust
Endangered Species Protection Agency
European Squirrel Initiative
Fletching Parish Church
Fletching PCC
Friends of Minstead Study Centre
Friends of St Marys Church, Goudhurst
Future Trees Trust
Heart of England Forest
Linking Environment and Farming
Nimrud Archaeological Trust
Painshill Park Trust Ltd
Parish Church of St Nicholas, Old Shoreham
Rare Breeds Survival Trust
Royal Pavilion and Museums Trust
Saint Mary and Saint Peter Church
Sand Dams Worldwide Limited
Selsey Pavilion Trust
Selsey PCC Restoration Fund
Southdown National Park Trust (Beelines)
South Lancing & Sompting Churches
Spirewatch
St Aldhelm's Church, London
St Bartholomew's Church, Brighton
St John The Baptist Church
St Luke's Church, Seaford
St Mary's Church, Aldingbourne
St Richards, Aldwick
Surfers Against Sewage
Sussex Heritage Trust Limited
Sustainable Global Gardens
The Ancient Monuments Society
The Barn Owl Trust
The Moorland Mousie Trust
The Parish Church, Chiddingly, Restoration Trust
The Parochial Church Council of The Ecclesiastical Parish of
Brighton, St Peter
The Parochial Church Council of the Ecclesiastical Parish of St John
Meads
The Save Me Trust
Carried forward|**2025**
**£**
-
500
500
-
1,000
-
-
500
500
-
-
-
500
1,000
500
500
-
1,000
500
-
-
-
1,000
1,000
1,000
500
1,000
-
-
-
-
-
500
-
500
-
-
500
500
-
500
500
1,000
-
-
15,500|**2024**
**£**
500
-
-
500
-
500
1,000
500
-
1,000
1,000
1,500
-
-
-
-
500
-
-
1,000
500
1,000
-
1,000
-
-
1,000
500
1,000
500
500
500
-
500
-
500
1,000
-
500
1,000
1,000
-
-
500
1,000
20,500|
|---|---|---|
- 19 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **6 Charitable activities (continued)**
|**Conservation fund (continued)**
Brought forward
The Sussex Historic Churches Trust
Village Water Limited
Water Harvest|**2025**
**£**
15,500
100
-
500
16,100|**2024**
**£**
20,500
1,100
500
1,000
23,100|
|---|---|---|
## **Support costs**
Accountancy fees in relation to administration of the Estate fund donations and other matters were charged as follows:
|RSM UK Tax and Accounting Limited
Irrecoverable VAT
**7**
**Auditor’s remuneration**
RSM UK Audit LLP and its associates:
Audit services (inclusive of VAT)
Accounting services (inclusive of VAT)|**2025**
**£**
12,800
2,560
15,360
**2025**
**£**
30,270
30,480
60,750|**2024**
**£**
12,200
2,440
14,640
**2024**
**£**
28,080
29,040
57,120|
|---|---|---|
## **8 Expenses and remuneration of key management personnel**
The Trust considers the Board of Trustees to be its key management personnel.
The Trustee who acted as secretary to the charity, Mr KJR Buckland, charged professional fees amounting to £6,920 (2024: £9,320) for the year ended 5 April 2025, in line with the provision set out in the governing document. These charges are included in legal and professional fees in note 6 above. Amounts totalling £6,920 were outstanding at the Balance Sheet date (2024: £9,320). These are included in other creditors.
Trustees’ indemnity insurance paid in respect of the year ended 5 April 2025 totalled £2,168 (2024: £2,214).
None of the Trustees were reimbursed expenses during the year ended 5 April 2025 (2024: one Trustee reimbursed £19).
None of the other Trustees or persons connected to them have received any remuneration, nor have any Trustees received expenses during the years ended 5 April 2025 and 5 April 2024.
- 20 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **9 Staff emoluments**
The Trust employed no staff during the current or previous year and, consequently, no staff costs or emoluments were incurred.
## **10 Fixed asset investments - property**
## **Freehold land and properties**
The freehold properties and the freehold improvements relate to properties held for investment purposes and certain heritage assets are revalued annually to fair value. In accordance with the FRS 102 SORP they have been revalued to fair value as at 5 April 2025, as advised by Strutt & Parker, Chartered Surveyors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. It also takes into account the condition of the properties and the nature of the tenancy agreements.
|**Fair value**
Brought forward
Additions
Revaluation to fair value
**11**
**Fixed asset investments**
Investments
**Investments**
Fair value brought forward
Additions
Disposals
Realised losses
Unrealised (losses)/gains
**Fair value carried forward**
**Cost as at 5 April 2025**|**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
17,819,252
4,080,325
-
-
(896,906)
15,000
16,922,346
4,095,325
**2025**
**Estate**
**Fund**
**£**
**Conservation**
**Fund**
**£**
1,942,359
606,438
2,064,748
644,649
-
-
-
-
-
-
(122,389)
(38,211)
1,942,359
606,438
1,881,500
587,439||**Total**
**Funds**
**£**
21,899,577
-
(881,906)
21,017,671
**Total**
**Funds**
**£**
2,548,797
2,709,397
-
-
-
(160,600)
2,548,797
2,468,939|**2024**
**Total**
**Funds**
**£**
21,401,499
3,850
494,228
21,899,577
**2024**
**Total**
**Funds**
**£**
2,709,397
2,449,169
2,910,792
(2,824,166)
(12,730)
186,332
2,709,397
2,468,939|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
- 21 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **11 Fixed asset investments (continued)**
## **Investments**
All investments are common investment funds which are readily realisable at any time. The unit value is published daily by the fund managers.
|**2025**
**Net (losses)/gains**
**reconciliation**
**Estate Fund**
**Educational**
**Sub-Fund**
**Conservation**
**Fund**
**£**
**£**
**£**
**Investment assets**
Net (losses)/gains on
fixed asset
investments –
property (note 10)
(896,906)
-
-
**Investments**
Net (loss)/gains on
fixed asset
investments:
Realised losses
(note 11)
-
-
-
Unrealised
(losses)/gains (note
11)
(122,389)
(38,211)
-
**Heritage assets**
Revaluation to fair
value (note 10)
-
15,000
-
(1,019,295)
(23,211)
-
**2025**
**12**
**Debtors**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
Rent receivable
30,174
-
-
Prepayments and
accrued income
9,527
-
-
Other debtors
3,407
-
-
43,108
-
-|**2025**
**Net (losses)/gains**
**reconciliation**
**Estate Fund**
**Educational**
**Sub-Fund**
**Conservation**
**Fund**
**£**
**£**
**£**
**Investment assets**
Net (losses)/gains on
fixed asset
investments –
property (note 10)
(896,906)
-
-
**Investments**
Net (loss)/gains on
fixed asset
investments:
Realised losses
(note 11)
-
-
-
Unrealised
(losses)/gains (note
11)
(122,389)
(38,211)
-
**Heritage assets**
Revaluation to fair
value (note 10)
-
15,000
-
(1,019,295)
(23,211)
-
**2025**
**12**
**Debtors**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
Rent receivable
30,174
-
-
Prepayments and
accrued income
9,527
-
-
Other debtors
3,407
-
-
43,108
-
-|**Total**
**Funds**
**£**
(896,906)
-
(160,600)
15,000
(1,042,506)
**Total**
**Funds**
**£**
30,174
9,527
3,407
43,108||**2024**
**Total**
**Funds**
**£**
494,228
(12,730)
186,332
-
667,830
**2024**
**Total**
**Funds**
**£**
28,064
11,091
2,917
42,072|
|---|---|---|---|---|
||||||
- 22 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**13**
**Cash balances**
Barclays Bank plc
Strutt & Parker – client
account
**14**
**Creditors**
Estate creditors
Accruals
Other creditors|**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
43,792
-
7,393
190,170
-
-
233,962
-
7,393
**2025**
**Estate**
**Fund**
**£**
**Educational**
**Sub-fund**
**£**
**Conservation**
**Fund**
**£**
28,049
-
-
45,120
-
-
7,156
-
-
80,325
-
-|**Total**
**Funds**
**£**
51,185
190,170
241,355
**Total**
**Funds**
**£**
28,049
45,120
7,156
80,325|**2024**
**Total**
**Funds**
**£**
(1,683)
180,919
179,236
**2024**
**Total**
**Funds**
**£**
34,527
40,800
9,583
84,910|
|---|---|---|---|
Included within estate creditors is £17,574 (2024: £18,223) relating to rental income which has been deferred as it relates to the next financial year.
|**15**|**Financial instruments**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||**Carrying amount of financial assets**|||
||Instruments measured at fair value through surplus|23,566,468|24,608,974|
## **16 Buxshalls Chapel**
The Trustees held possessory title to Buxshalls Chapel, Lindfield.
This Chapel is within the grounds of the Buxshalls Estate and the public have a right of access to it. The Chapel was built at the turn of the last century, in approximately 1901, as a memorial chapel for the Buxshalls Estate. The Estate itself has now been transferred to ‘The Hanover Trust’ but the Chapel was not transferred as no title was held to it. The Chapel is consecrated and services take place there which are open to the public.
The Trustees consider the Chapel to be a heritage asset and do not believe that it should be included at a value in the balance sheet as reliable cost information is not available and conventional valuation approaches lack sufficient reliability.
By way of a lease entered into on 14 December 2008, Buxshalls Chapel was let on a long lease for 999 years at a peppercorn rent.
- 23 -
## **THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**17**
**Reconciliation of net income to net cash flow from operating**
**activities**
Net (expenditure)/income inclusive of recognised (losses)/gains
Interest and rents from investments
Losses/(gains) on investments
Decrease in cash held with investment manager
(Increase)/decrease in debtors
Decrease in creditors
Net cash used in operating activities|**2025**
**£**
(974,766)
(488,733)
1,042,506
-
(1,036)
(4,585)
(426,614)|**2024**
**£**
650,120
(451,232)
(667,830)
91,533
12,816
(2,650)
(367,243)|
|---|---|---|
## **18 Analysis of funds**
|**Analysis of movement in funds**
**Balance at**
**6 April**
**2024**
**£**
**Income**
**£**
**Expenditure**
**£**
Estate fund
20,019,808
477,789
(369,437)
Educational
sub-fund
4,080,325
45,410
(84,425)
Conservation
fund
645,239
17,903
(19,500)
24,745,372
541,102
(473,362)
**Analysis of funds: prior year**
**Analysis of movement in funds**
**Balance at**
**6 April**
**2023**
**£**
**Income**
**£**
**Expenditure**
**£**
Estate fund
19,405,789
434,445
(399,317)
Educational
sub-fund
4,076,425
25,554
(61,673)
Conservation
fund
613,038
10,648
(27,367)
24,095,252
470,647
(488,357)|**Net gains/**
**(losses)**
**£**
(1,019,295)
15,000
(38,211)
(1,042,506)
**Net gains/**
**(losses)**
**£**
627,864
-
39,966
667,830|**Transfers**
**between**
**funds**
**£**
**Balance at 5**
**April 2025**
**£**
(47,415)
19,061,450
39,015
4,095,325
8,400
613,831
-
23,770,606
**Transfers**
**between**
**funds**
**£**
**Balance at 5**
**April 2024**
**£**
(48,973)
20,019,808
40,019
4,080,325
8,954
645,239
-
24,745,372|**Transfers**
**between**
**funds**
**£**
**Balance at 5**
**April 2025**
**£**
(47,415)
19,061,450
39,015
4,095,325
8,400
613,831
-
23,770,606
**Transfers**
**between**
**funds**
**£**
**Balance at 5**
**April 2024**
**£**
(48,973)
20,019,808
40,019
4,080,325
8,954
645,239
-
24,745,372|
|---|---|---|---|
||||24,745,372|
## **Estate fund**
The Plashett Estate is part of the Trust Fund comprising farmland, woodlands and various residential properties which are tenanted. The main part of the Woodlands is designated as a Site of Special Scientific Interest, as the Estate has historic associations, and because of the flora and fauna. On 31 March 2007 the Trustees accepted the net assets and liabilities of the Dorothy Askew Trust (registered charity number 286088), amounting to £558,908, into the Estate fund.
- 24 -
**THE IAN ASKEW CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2025**
## **18 Analysis of funds (continued)**
## **Educational sub-fund**
The Educational sub-fund was created for the Advancement of Education and associated activities. The Trustees are committed to the promotion of education for the public benefit of the Woodlands in the fields of agriculture, horticulture, and arboriculture.
## **Conservation fund**
The Conservation fund was created for the conservation and restoration of historic buildings for the benefit of the public.
## **Transfers between funds**
The Trustees have recognised that, historically, the income (excluding unrealised gains and losses) of the Educational sub-fund and the Conservation fund, does not cover outgoings, so they have been met by the working capital of the Estate fund. This is reflected in the financial statements.
|**19**
**Analysis of net assets between funds**
**Estate fund**
**£**
**Educational**
**sub-fund**
**£**
**Conservation**
**fund**
**£**
Fixed assets
16,922,346
4,095,325
-
Investments
1,942,359
-
606,438
Net current assets
196,745
-
7,393
19,061,450
4,095,325
613,831
**Analysis of net assets between funds: prior year**
**Estate fund**
**£**
**Educational**
**sub-fund**
**£**
**Conservation**
**fund**
**£**
Fixed assets
17,819,252
4,080,325
-
Investments
2,064,748
-
644,649
Net current assets
135,808
-
590
20,019,808
4,080,325
645,239|**Total**
**£**
21,017,671
2,548,797
204,138|
|---|---|
||23,770,606|
||**Total**
**£**
21,899,577
2,709,397
136,398|
||24,745,372|
- 25 -