**Registered Charity Number: 266532** ## **The Bernard Morris Charitable Trust** ## **Report of the Trustees and Financial Statements** **for the year ended** **30th June 2025** **Wenn Townsend** **Chartered Accountants** **Oxford** ## **The Bernard Morris Charitable Trust** ## **Contents** ||**Page**| |---|---| |Reference and Administrative Details|1| |Report of the Trustees|2| |Independent Examiner’s Report|3| |Statement of Financial Activities|4| |Balance Sheet|5| |Notes to the Financial Statements|6 – 10| |Detailed Statement of Financial Activities|11| **The Bernard Morris Charitable Trust** **Reference and Administrative Details for the year ended 30th June 2025** ## **Trustees** ## **Principal Address** ## **Registered Charity Number** ## **Independent Examiner** Mr S A Ryde Mrs A L Ryde Miss J L Ryde Mr B Ryde Mr J S Ryde Mr J D Ryde 5 Wolvercote Green Oxford OX2 8BD 266532 A K Bahl BA BFP FCA Wenn Townsend 30 St Giles Oxford OX1 3LE **-1-** ## **The Bernard Morris Charitable Trust** ## **Report of the Trustees for the year ended 30th June 2025** The Trustees present their report with the financial statements of the charity for the year ended 30th June 2024. 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 1st January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The object of the Trust is to make donations to needy individuals and institutions. ## **Ensuring we meet our aims** The Trustees review the aims, objectives and activities each year. We look at what we have achieved in terms of the success of each key activity and the benefits we have brought to those groups we are set up to help. This review also helps us to ensure our aims, objectives and activities remain focussed on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives we have set. ## **Grantmaking** The Trust continued to meet its objects during the year by making grants totalling £89,430 (2024: £105,950) in accordance with the Trust Deed. Following the sale of an investment property in 2013, the Trustees are carrying out their plan to expand their grant making in the future with the funds realised. The Trust received a further investment property valued at £280,000 in the form of a donation in 2020, adding to the Trust’s asset base and income generating capability. This property was sold in 2022 to provide further funds for grantmaking. ## **FINANCIAL REVIEW** ## **Reserves policy** At 30th June 2025 reserves were £265,878 (2024: £319,556), of which £56,787 (2024: £88,346) was freely available. It is the aim of the Trustees to keep the level of free reserves to a minimum in order to maximise expenditure on the charitable objects. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Bernard Morris Charitable Trust is constituted by Deed of Trust and is a registered charity, number 266532. Its address is 5 Wolvercote Green, Wolvercote, Oxford, OX2 8BD. ## **Recruitment and appointment of new trustees** The power to appoint new or additional Trustees rests with the existing trustees. New Trustees are inducted through discussions with the existing Trustees. ## **Investment powers** The Trustees have full and unrestricted powers of investing and transposing investments in all respects as if they were absolutely entitled to the trust fund beneficially. Killik & Co LLP are appointed to manage the investment portfolio with the aim of maximising the investment income of the Trust. Approved by order of the board of trustees on 18 July 2025 and signed on its behalf by: ## **Mr S A Ryde Trustee** **-2-** ## **Independent Examiner’s Report to the Trustees of The Bernard Morris Charitable Trust** I report to the charity Trustees on my examination of the accounts of The Bernard Morris Charitable Trust for the year ended 30th June 2025 which are set out on pages 4 to 11. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **A K Bahl BA BFP FCA Partner Wenn Townsend Chartered Accountants Oxford** ## **18 July 2025** **-3-** ## **The Bernard Morris Charitable Trust** ## **Statement of Financial Activities for the year ended 30th June 2025** |||**2025**|**2024**| |---|---|---|---| |||**Unrestricted**|**Total**| |||**Fund**|**Funds**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Donations and other income||20,000|40,000| |Investment income|**2**|8,410|8,909| |||─────|─────| |**Total**||28,410|48,909| |||─────|─────| |**Expenditure on**|||| |Raising funds|**3**|299|338| |**Charitable activities**|||| |Grantmaking||89,430|105,950| |Support costs||1,000|1,000| |Other||60|60| |||─────|─────| |**Total**||90,789|107,348| |||─────|─────| |Net gains/(losses) on investments||8,701|12,779| |||─────|─────| |**Net income/(expenditure)**||(53,678)|(45,660)| |**Reconciliation of funds**|||| |Total funds brought forward||319,556|365,216| |||─────|─────| |**Total funds carried forward**||265,878|319,556| |||═════|═════| **-4-** ## **The Bernard Morris Charitable Trust** ## **Balance Sheet as at 30th June 2025** |||**2025**|**2024**| |---|---|---|---| |||**Unrestricted**|**Total**| |||**Fund**|**Funds**| ||**Notes**|**£**|**£**| |**Fixed assets**|||| |Investments|**6**|209,091|231,210| |||─────|─────| |||209,091|231,210| |**Current assets**|||| |Cash at bank||57,787|89,346| |**Creditors**|||| |Amounts falling due within one year|**7**|(1,000)|(1,000)| |||─────|─────| |**Net current assets**||56,787|88,346| |||─────|─────| |**Total assets less current liabilities**||265,878|319,556| |||─────|─────| |**Net assets**||265,878|319,556| |||═════|═════| |**Funds**|||| |Unrestricted funds|**8**|265,878|319,556| |||─────|─────| |**Total funds**||265,878|319,556| |||═════|═════| The financial statements were approved by the Board of Trustees and authorised for issue on 18 July 2025 and were signed on its behalf by: ## **Mr S A Ryde Trustee** **-5-** ## **The Bernard Morris Charitable Trust** ## **Notes to the Financial Statements for the year ended 30th June 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 1st 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. ## **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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** All incoming and expended resources are unrestricted and can be used in accordance with the charitable objectives at the discretion of the Trustees. ## **Fixed asset investments** Quoted fixed asset equity investments are included in the accounts at their market value at the balance sheet date. This gives rise to unrealised gains and losses which are included on the face of the Statement of Financial Activities. Unquoted fixed asset investments are included in the accounts at historical cost. ## **2. Investment income** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Dividend income|8,410|8,909| ||─────|─────| ||8,410|
8,909| ||═════|═════| **-6-** ## **The Bernard Morris Charitable Trust** ## **Notes to the Financial Statements (continued) for the year ended 30th June 2025** |**3.**|**Raising funds**||| |---|---|---|---| ||**Investment management costs**||| |||**2025**|**2024**| |||**£**|**£**| ||Investment management charges|299|338| |||─────|─────| |||299|338| |||═════|═════| |**4.**|**Grants payable**||| |||**2025**|**2024**| |||**£**|**£**| ||Grant making|89,430|105,950| |||═════|═════| ||The total grants paid to institutions during the year was as follows:||| |||**2025**|**2024**| |||**£**|**£**| ||Homestart|500|-| ||Oak City FC|1,230|-| ||Chabad of Oxford|1,000|1,000| ||Lemon Soul Ltd|-|3,500| ||Newark Rugby|500|-| ||Oxford Synagogue & Jewish Centre|1,000|-| ||Oxford Philharmonic|25,000|20,000| ||Oxford Menorah|200|200| ||Save Trust|-|15,000| ||WJR|5,000|14,000| ||Mill Hill Synagogue|2,000|1,000| ||UJS Hillel|-|1,500| ||Ben Gunon University|-|250| ||Peasmarsh Music Festival|1,000|1,000| ||At The Bus|-|4,000| ||Kanter Jules Charitable Trust|-|2,500| ||Jewish Care|40,000|20,000| ||Dulwich Prep|-|1,500| |||─────|─────| |||77,430|85,450| |||═════|═════| **-7-** The total grants paid to individuals during the year was as follows: ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Ash Sharma|-|-| |Matthew Johnson|-|-| |Risha and Sacha Sharma||12,000| |10,000 Bilal Fawaz||-| |2,500||| |Moshil Hoch|-|5,000| |David MacDonald||-| |3,000||| ||─────|─────| ||12,000|20,500| ||═════|═════| **-8-** ## **The Bernard Morris Charitable Trust** ## **Notes to the Financial Statements (continued) for the year ended 30th June 2025** ## **5. Trustees’ remuneration and benefits** There were no trustees’ remuneration or other benefits for the year ended 30th June 2025 nor for the year ended 30th June 2024. ## **Trustees’ expenses** There were no trustees’ expenses paid for the year ended 30th June 2025 nor for the year ended 30th June 2024. ## **6. Fixed asset investments** ||**Listed**| |---|---| ||**Investments**| ||**£**| |**Market value**|| |At 1st July 2024|231,210| |Additions|-| |Disposals|(30,819)| |Unrealised gains/(losses) on investments|8,701| ||─────| |**At 30th June 2025**|209,091| ||**═════**| |**Net book value**|| |At 30th June 2025|209,091| ||═════| |At 30th June 2024|231,210| ||═════| |There were no investment assets outside the UK.|| |Cost or valuation at 30th June 2025 is represented by:|| |||**Listed**| |---|---|---| |||**Investments**| |||**£**| |Valuation in|2019|8,466| |Valuation in|2020|(10,102)| |Valuation in|2021|45,212| |Valuation in|2022|(48,634)| |Valuation in|2023|16,058| |Valuation in|2024|12,779| |Valuation in|2025|8,701| |Cost||176,611| |||─────| |||209,091| |||═════| The historical cost of listed investments at 30th June 2025 was £176,611 (2024: £207,497). **-9-** ## **The Bernard Morris Charitable Trust** ## **Notes to the Financial Statements (continued) for the year ended 30th June 2025** ## **7. Creditors: amounts falling due within one year** ||||**2025**|**2024**| |---|---|---|---|---| ||||**£**|**£**| ||Accrued expenses||1,000|1,000| ||||═════|═════| |**8.**|**Movement in funds**|||| ||||**Net**|| ||**2025**|**At**|**movement**|**At**| |||**1.7.24**|**in funds**|**30.6.25**| |||**£**|**£**|**£**| ||**Unrestricted funds**|||| ||General fund|319,556|(53,678)|265,878| |||─────|─────|─────| ||**Total funds**|319,556|(53,678)|265,878| |||**═════**|**═════**|**═════**| Net movement in funds included in the above are as follows: ||**Incoming**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|28,410|(90,789)|8,701|(53,678)| ||─────|─────|─────|─────| |**Total funds**|28,410|(90,789)|8,701|(53,678)| ||**═════**|**═════**|**═════**|**═════**| ||||**Net**|| |**2024**||**At**|**movement**|**At**| |||**1.7.23**|**in funds**|**30.6.24**| |||**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund||365,216|(46,660)|319,556| |||─────|─────|─────| |**Total funds**||365,216|(46,660)|319,556| |||**═════**|**═════**|**═════**| Net movement in funds included in the above are as follows: ||**Incoming**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|48,909|(107,348)|12,779|(45,660)| ||─────|─────|─────|─────| |**Total funds**|48,909|(107,348)|12,779|(45,660)| ||**═════**|**═════**|**═════**|**═════**| ## **10. Related party disclosures** During the year the charity made a grant of £1,000 to the Oxford Synagogue and Jewish Centre Limited, a charity of which Mr S A Ryde is a Trustee. The charity received donations of £20,000 from Bradford Securities Limited (2024: £40,000) , a company controlled by the trustees. **-10-** ## **The Bernard Morris Charitable Trust** ## **Detailed Statement of Financial Activities for the year ended 30th June 2025** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |**Income and endowments**||| |Donations and other income|20,000|40,000| |**Investment income**||| |Dividend income|8,410|8,909| ||─────|─────| ||8,410|8,909| ||─────|─────| |**Total incoming resources**|28,410|48,909| |**Expenditure**||| |**Investment management costs**||| |Investment management charges|299|338| ||─────|─────| ||299|338| |**Charitable activities**||| |Grants to institutions|77,430|85,450| |Grants to individuals|12,000|20,500| ||─────|─────| ||89,430|| |105,950||| |**Support costs**||| |**Management**||| |Accountancy fees|1,000|1,000| |Bank charges|60|60| ||─────|─────| ||1,060|1,060| ||─────|─────| |**Total resources expenses**|90,789|| |107,348||| ||─────|─────| |**Net expenditure before gains and losses**|(62,379)|| |(58,439)||| |**Realised recognised gains and losses**||| |Gains/(losses) on investments|8,710|12,779| ||─────|─────| |**Net expenditure**|(53,678)|| |(45,660)||| **-11-**