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2024-12-31-accounts

Charity registration number 266877 (England and Wales)

THE CHRISTOPHER H R REEVES CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Andrew Reeves
Emma Royall
Lucy Rand
Jill Nellis
Secretary Jill Nellis
Charity number 266877
Registered office Estate Office
Glebe Farm
Podington
Wellingborough
Northamptonshire
NN29 7HR
Independent examiner David Terry
Ramon Lee Ltd
93 Tabernacle Street
London
EC2A 4BA
Bankers The Co-operative Bank
Lloyds TSB Plc
Long Causeway Branch
30-31 Long Causeway
Peterborough
PE1 1XP
Investment advisors True Potential Investments LLP
Newburn House
Newburn Riverside
Newcastle Upon Tyne
NE15 8NX

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements of the charity for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The object of the charity, as set out by the Trust Deed, is to ‘pay, apply or appropriate the whole or any part or parts of the capital and income thereof, at any time or from time to time, for such purposes or objects which are from time to time recognised by law as charitable purposes’.

The charity carried out the objects noted above through the award of grants and donations to various organisations to support general charitable purposes or charitable institutions in the United Kingdom or elsewhere.

Achievements and performance

During the year the charity made grant awards totalling £35,000 (2023 - £66,800).

The largest donation made this year was for £5,000. Smaller donations to various charities were also made ranging from £1,000 to £5,000.

Future Activities

The Trust’s Grant Criteria favours charities already associated with the Trust, but the trustees also consider a broad range of applications, which are regularly made to the Trust. The trustees meet regularly, and new requests received after the last meetings are discussed. All appeals must be made in writing with a copy of the applicant’s latest report and accounts.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the charity’s activities.

Financial review

The net surplus for the year amounted to £318,359 (2023 – net surplus £81,502). The Trust incurred a deficit of £1,977 (2023 – deficit £38,131) prior to an investment gain arising on the charity’s investment portfolio totalling £320,336 (2023 - £119,633).

The principal funding came from the investment income arising on the charity’s investment portfolio. Investment returns on the charity’s investment portfolio increased in comparison to prior period and amounted to £47,118 compared to £46,710 for the year ended 31 December 2023.

There have been no significant changes in the way the charity has operated or is policy for carrying out its objects.

The charity is not reliant on the services on unpaid volunteers or donations in kind.

Principal funding sources

The principal funding source of the charity is growth and dividend income from the investment portfolio.

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Investment Powers and Policy

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. The trustees have the power to invest in any way that they see fit.

It is the policy of the trustees that the investment holdings are maintained through a portfolio of equities, government stocks and unit trusts, managed by a recognised investment manager. The portfolio is moderately adventurous, as the trustees concentrate on total returns, that is to say, capital growth with only ancillary income.

Reserves Policy

At the balance sheet date, the charity had retained unrestricted funds totalling £3,375,689 (2023 - £3,057,330). It is the policy of the trustees to maintain reserves at their current levels so that sufficient investment income may be derived in order to finance the award of grants. The maintenance of such significant reserves represent the trustees’ aims of long term operations through the continued receipt of reasonable levels of investment income to finance grant awards, whilst maintaining a hedge against possible future decreases in the market value of investments.

Grant Making Policy

Grants are awarded after submission of a claim by the applicant to the trustees. The trustees review the application to judge if the grant falls within the charity’s objectives and whether the application meets its requirements in terms of the benefits it gives. Each application is discussed, reviewed and decided upon by the trustees at their regular meetings. Appeals by the applicants should be made in writing with a copy of the applicant’s Report and Accounts. In respect of general donations, the Trust’s main areas of interest are in food allergy research, in education and in disability, residential care and development. The Trust will consider a broader range of charities in the area of North Bedfordshire and its immediate surrounds. Future donations will favour charities already associated with the Trust.

In particular, the Trust does not wish to receive appeals relating to:

Structure, governance and management

Governing Document

The organisation is a charitable trust, established under a trust deed dated 21 December 1973 and registered as a charity with the Charity Commission on 11 February 1974 under registration number 266877. The organisation is governed by the trust deed which sets out the objects and powers of the charity and governs the actions of the trustees.

Recruitment and Appointment of Trustees

The Trust Deed stipulates that there shall not be less than three nor more than seven trustees at any one time. The power to appoint new trustees is vested in the existing trustees.

Trustees Induction and Training

The trustees are made aware of changes in charity regulations and any other factors impacting on their appointment and duties.

Organisation

The Board of Trustees, which comprises of four members, administers the charity. The Board meets regularly to review the affairs of the charity and to consider grant applications which are only paid to a beneficiary upon the approval of the Board. All decisions relating to the strategy and policy are made by the Board of Trustees.

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Risk Management :

The trustees have a risk management strategy which comprises:

The review has identified some risks primarily relating to investment exposure. Investment risk is minimised by the maintenance of a diversified portfolio in moderately adventurous holdings. A key element in the management of financial risk is the use of a discretionary investment manager, the setting of a reserves policy and its regular review by the trustees.

Related parties

The charity has no related parties with which it co-operates in the performance of its activities.

Statement of 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 (United Kingdom Generally Accepted Accounting Practice).

The 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 state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that 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. 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' report was approved by the Board of Trustees and signed on its behalf by:

Andrew Reeves Trustee

11 July 2025

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE CHRISTOPHER H R REEVES CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Christopher H R Reeves Charitable Trust (the charity) for the year ended 31 December 2024.

This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

David Terry

Ramon Lee Ltd 93 Tabernacle Street London EC2A 4BA

Dated: 11 July 2025

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Current financial year
Unrestricted
funds
Notes
£
Income from:
Investments
3
47,118
Total income
47,118
Expenditure on:
Raising funds
4
11,064
Charitable activities
5
38,031
Total expenditure
49,095
Net income / (expenditure) & net movements in funds before
gains & losses on investments
(1,977)
Net gains/(losses) on investments
11
320,336
Net income and movement in funds
318,359
Reconciliation of funds:
Fund balances at 1 January 2024
3,057,330
Fund balances at 31 December 2024
3,375,689		 Total
2024
£
47,118
47,118
11,064
38,031
49,095
(1,977)
320,336
318,359
3,057,330
3,375,689		 Total
2023
£
46,710
46,710
15,581
69,260
84,841
(38,131)
119,633
81,502
2,975,828
3,057,330

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 7 to 13 form part of these financial statements.

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Investments
10
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
13		 £
49,244
(2,664)		 2024
£
3,329,109
46,580
3,375,689
3,375,689
3,375,689		 £
37,048
(2,460)		 2023
£
3,022,742
34,588
3,057,330
3,057,330
3,057,330

The notes on pages 7 to 13 form part of these financial statements.

The financial statements were approved by the trustees on 11 July 2025 and are signed on its behalf by:

Andrew Reeves Lucy Rand Trustee Trustee

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The charity’s financial statements show net surplus of £318,359 (2023 – net surplus £81,502) for the year and free reserves of £3,375,689 (2023 - £3,057,330). The Trust continues to have sufficient investments to be able to fulfil its obligations and continue operating as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

(a) Investment income is included when receivable.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs and governance costs which support the Trust’s activities. These costs have been allocated to charity’s sole activity of charitable giving.

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.6 Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.

The Trust does not acquire put options, derivatives or other complex financial instruments.The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub-sectors.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.9 Taxation

The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.10 Creditors and Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash flow statement

The charity qualifies as a small charity and advantage has been taken of the exemption provided by SORP (FRS 102) as amended by Bulletin 1, not to prepare a cash flow statement.

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.13 Realised/ unrealised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial period. Unrealised gains and losses are calculated as the difference between the fair value at the period end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the charity’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.

3 Income from investments

Income from investments
Unrestricted Unrestricted
funds funds
Total Total
2024 2023
£ £
Dividends and interest from investment portfolio 47,118 45,696
Other interest - 1,014
47,118 46,710

4 Expenditure on raising funds

Expenditure on raising funds
Unrestricted Unrestricted
funds funds
Total Total
2024 2023
£ £
Investment management fees 11,064 15,581
11,064 15,581

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5
Charitable activities
Charitable
Giving
£
Grant funding of activities (see note 6)
35,000
Share of support costs (see note 7)
367
Share of governance costs (see note 7)
2,664
38,031
Analysis by fund
Unrestricted funds
38,031
38,031
6
Grants to Institutions
Support
£
The Duchenne Family Support Group
5,000
The Nest Farms
5,000
Hollie Gazzard Trust
5,000
Impact-Now
5,000
Northgate School Academy
5,000
Willen Hospice
4,000
Podington Parish Council
2,000
Favell Day Services
2,000
Country Days
1,000
Northamptonshire Association of Youth Clubs
1,000
The Christopher Reeves VA Primary School
-
Encompass Charity
-
Medical Research Foundation
-
Inspire Foundation
-
Dementia UK
-
Cardiac Risk
-
British Heart Foundation
-
Read for Good
-
Open Sight Hampshire
-
Prevent Breast Cancer
-
Bedfordshire Opportunities of Learning Disabilities Appeal
-
British Wheelchair Sport
-
Design and Manufacture for Disability
-
Oxford Hospital Charity
-
The Villager Minibus
-
MND Association
-
Queen Elizabeth's Foundation For Disabled People
-
35,000		 Total
2024
£
35,000
367
2,664
38,031
38,031
38,031
Total
2024
£
5,000
5,000
5,000
5,000
5,000
4,000
2,000
2,000
1,000
1,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
35,000		 Total
2023
£
66,800
-
2,460
69,260
69,260
69,260
Total
2023
£
-
-
-
-
-
-
-
-
-
500
20,000
5,000
3,000
1,500
500
5,000
5,000
2,000
1,800
3,000
1,000
2,500
3,000
5,000
1,000
5,000
2,000
66,800

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7 Support costs allocated to activities

8 Legal and professional fees
Governance costs
Analysed between:
Charitable Giving
Governance costs comprise:
Independent examiner's fees
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Independent examiner's fees
Independent Examination
Other services		 2024
£
367
2,664
3,031
3,031
2024
£
2,664
2,664
2024
£
1,680
984		 2023
£
-
2,460
2,460
2,460
2023
£
2,460
2,460
2023
£
1,560
900

9 ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

The charity did not have any employees during the year.

The key management personnel of the charity comprise of the trustees. None of the trustees were employed or paid fees by the charity (2023 – £Nil). One Trustee received £367 as remuneration in respect of their services (2023 - £Nil). None of the trustees were reimbursed expenses during the year (2023 – £Nil).

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Fixed asset investments

Cost or valuation
At 1 January 2024
Additions
Accumulation fund
Realised gains /(losses)
Unrealised gains / (losses)
Disposals
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
Historical cost
Market value analysed by type of investment
UK equities
UK bonds
Overseas equities
Overseas bonds
Property
Other Investments		 Total
£
3,022,742
247,877
35,134
19,990
300,346
(296,981)
3,329,108
3,329,108
3,022,742
2,857,496
£
294,626
106,532
2,396,957
292,961
6,658
231,374
3,329,108

11 Gains and losses on investments

Unrestricted
funds
Gains/(losses) arising on:
£
Revaluation of investments
300,346
Sale of investments
19,990
320,336		 Total
Unrestricted
2024
funds
£
£
300,346
105,790
19,990
13,843
320,336
119,633		 Total
2023
£
105,790
13,843
119,633

THE CHRISTOPHER H R REEVES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

12 Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,664 2,460
2,664 2,460
13 Unrestricted funds
At 1 January Incoming Resources Gains and At 31
2024 resources expended losses December
2024
£ £ £ £ £
General funds 3,057,330 47,118 (49,095) 320,336 3,375,689
3,057,330 47,118 (49,095) 320,336 3,375,689
Previous year: At 1 January Incoming Resources Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £
General funds 2,975,828 46,710 (84,841) 119,633 3,057,330
2,975,828 46,710 (84,841) 119,633 3,057,330
14 Analysis of net assets between funds
Unrestricted
Total		 Unrestricted Total
funds 2024 funds 2023
£ £ £ £
Fund balances at 31 December 2024 are
represented by:
Investments 3,329,109 3,329,109 3,022,742 3,022,742
Current assets/(liabilities) 46,580 46,580 34,588 34,588
3,375,689 3,375,689 3,057,330 3,057,330

15 Related party transactions

There were no disclosable related party transactions during the year except the transactions disclosed in note 9.