THE MOREL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees for the year were: James M Gibbs (chair), William Gibbs, Simon Gibbs (secretary), Thomas Gibbs, Benjamin Gibbs, Emily Parry, Abigail Keane and Susanna Coan.
The Trustees held three meetings in the 2024/2025 financial year: on 22[nd] April, 22[nd] August and 7[th] January 2025. The second meeting was held in person with a zoom link available, the other two meetings were held by zoom. The meetings were chaired by James Gibbs, Thomas Gibbs and Emily Parry. Susanna Coan stepped down as a Trustee between the November and January meetings.
The Secretary’s address remained 34 Durand Gardens, London SW9 OPP. The Trust’s aims as set out in the Directory of Grant Making Trusts are: support of the arts, in particular drama, organisations working for improved race relations, inner city projects and third world projects.
The Morel Trust was set up in 1973 by James Gibbs who has remained as Chairman of the Trustees since then. Other additions were made to the Trust shortly after by his brothers William and Simon Gibbs. Trustees now include the next generation of the family.
Projects supported are usually connected with places that the trustees have lived and worked, including the cities of Bristol, Brecon, and London and the countries of Ghana, Zambia, Malawi and the Solomon Islands. We do not support individuals and normally grant aid projects of which the trustees have personal knowledge.
The Trust's investment assets were valued at 31 March 2025 at £2,019,999.18 (31 March 2024: 2,168,805) and are held in the COIF Charities Investment Fund. In addition, at 31 March 2025 the Trust held £35,551 (31 March 2024: £41,768) in a COIF Charities Deposit Fund account and £1,400 (31 March 2024: £1,697) at the Trust's bankers, CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent.
The total of grants made was £117,000 (2023/24: £80,500). Income from dividends and bank interest was £59,802 (2022/23: £59,986). In the course of the year the Trustees determined to raise £45,000 by the sale of COIF Charities Investment Fund Income Units.
This was the first year that we operated a website, providing potential applicants with guidance on how to apply for grants and a mechanism for the submission of applications on line. There were operating costs associated with this but reflections on the new system for making applications have generally been very positive.
Grants were made during 2024-25 to the following charitable organisations: ACTA, Africa 95, All we can, Armonico, Art+Christianity, Bristol Methodist Centre, Bristol Music Trust (Beacon Bristol), Christian Aid, Community Foundation Wales (for Penarth Cricket Club), EduSpots,
For Refugees, Friends of Matthew Rusike Childrens Home, Ghana School Aid, Homemakers (Abergavenny), Horizon Medical Education, Intercare, ITSA Digital, Kielder Observatory, Medical Aid for Palestinians, Mosaic, Oriel Myrddin, Oxfam, Practical Action, Pump Aid, Sand Dams, Shooting Fish Theatre Company, Sofa, Solar Aid, TCA Foundation (Cricket Asylum), Temwa, Thackray Museum of Medicine, Transaid, Tree Aid, the UK Wallball Association,Village Water, Water Aid and Wrap.
The total of grants going on International projects was £93,500 and the total on UK projects was £23,500. All the grants were made via charities that operate out of the UK and subject to regulation by the Charity Commission. At the year end one approved grant (a grant of £2000 to “Waste Aid”) had not been made.
Signed
Simon E Gibbs
Secretary the Morel Trust
21[st] October 2025
ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025
THE MOREL CHARITABLE TRUST
CHARITY REGISTRATION No: 268943
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
THE MOREL CHARITABLE TRUST
CONTENTS
----- Start of picture text -----
Page
Legal and Administrative Information 3
Trustees' Report 4 to 5
Independent Examiner's Report on the Accounts 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 12
----- End of picture text -----
2
THE MOREL CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 268943 START OF FINANCIAL YEAR 1st April 2024 END OF FINANCIAL YEAR 31st March 2025 TRUSTEES SERVING DURING THE YEAR Dr James Morel Gibbs ENDED 31ST MARCH 2025 Mr William Malcolm Gibbs Mr Benjamin Morel Ohenaku Gibbs Dr Emily Angel Parry Mr Simon Edward Gibbs Dr Thomas George Richard Gibbs Mrs Abigail Keane Mrs Susanna Coan (Resigned 05.12.2024)
GOVERNING DOCUMENT
DEED DATED 9TH OCTOBER 1972
OBJECTS TO APPLY THE INCOME AND ALL OR SUCH PART OF THE CAPITAL THEREOF AS THE TRUSTEES SHALL IN THEIR ABSOLUTE DISCRETION FROM TIME TO TIME DETERMINE FOR SUCH CHARITABLE PURPOSES AS THE TRUSTEES SHALL DETERMINE.
REGISTERED ADDRESS 34 Durand Gardens London SW9 0PP
INDEPENDENT EXAMINER Lomax Pavey Independent Examiners Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
3
THE MOREL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025
Structure, Governance and Management
The Trustees for the year were: James M Gibbs (chair), William Gibbs, Simon Gibbs (secretary), Thomas Gibbs, Benjamin Gibbs, Emily Parry, Abigail Keane and Susanna Coan.
The Trustees held three meetings in the 2024/2025 financial year: on 22nd April, 22nd August and 7th January 2025. The second meeting was held in person with a zoom link available, the other two meetings were held by zoom. The meetings were chaired by James Gibbs, Thomas Gibbs and Emily Parry. Susanna Coan stepped down as a Trustee between the November and January meetings. The Secretary’s address remained 34 Durand Gardens, London SW9 OPP.
Objectives and Activities
The Trust’s aims as set out in the Directory of Grant Making Trusts are: support of the arts, in particular drama, organisations working for improved race relations, inner city projects and third world projects.
The Morel Trust was set up in 1973 by James Gibbs who has remained as Chairman of the Trustees since then. Other additions were made to the Trust shortly after by his brothers William and Simon Gibbs. Trustees now include the next generation of the family.
Projects supported are usually connected with places that the trustees have lived and worked, including the cities of Bristol, Brecon, and London and the countries of Ghana, Zambia, Malawi and the Solomon Islands. We do not support individuals and normally grant aid projects of which the trustees have personal knowledge.
Financial Review
The Trust's investment assets were valued at 31 March 2025 at £2,019,999.18 (31 March 2024: 2,168,805) and are held in the COIF Charities Investment Fund. In addition, at 31 March 2025 the Trust held £35,551 (31 March 2024: £41,768) in a COIF Charities Deposit Fund account and £1,400 (31 March 2024: £1,697) at the Trust's bankers, CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent.
The total of grants made was £117,000 (2023/24: £80,500). Income from dividends and bank interest was £59,802 (2022/23: £59,986). In the course of the year the Trustees determined to raise £45,000 by the sale of COIF Charities Investment Fund Income Units.
Achievements and Performance
This was the first year that we operated a website, providing potential applicants with guidance on how to apply for grants and a mechanism for the submission of applications on line. There were operating costs associated with this but reflections on the new system for making applications have generally been very positive.
Grants were made during 2024-25 to the following charitable organisations: ACTA, Africa 95, All we can, Armonico, Art+Christianity, Bristol Methodist Centre, Bristol Music Trust (Beacon Bristol), Christian Aid, Community Foundation Wales (for Penarth Cricket Club), EduSpots, For Refugees, Friends of Matthew Rusike Childrens Home, Ghana School Aid, Homemakers (Abergavenny), Horizon Medical Education, Intercare, ITSA Digital, Kielder Observatory, Medical Aid for Palestinians, Mosaic, Oriel Myrddin, Oxfam, Practical Action, Pump Aid, Sand Dams, Shooting Fish Theatre Company, Sofa, Solar Aid, TCA Foundation (Cricket Asylum), Temwa, Thackray Museum of Medicine, Transaid, Tree Aid, the UK Wallball Association,Village Water, Water Aid and Wrap.
The total of grants going on International projects was £93,500 and the total on UK projects was £23,500. All the grants were made via charities that operate out of the UK and subject to regulation by the Charity Commission. At the year end one approved grant (a grant of £2000 to “Waste Aid”) has been shown as an accrued amount.
4
THE MOREL CHARITABLE TRusr REPORT OF THE TRusfEES Icontinuedl FOR THE YEAR ENDED 31 ST MARCH 2025 TheCh3rrtwkt 2011 reqviresthetrusteest0prepafian¢o1%tataentsftredch financialarWhlchg3 true4rylf4irvew rlihestste ffai1sc1th¢trtaThd tsU1$thoÈnflhat peri0d.1npr8paFgtI&wJ teMents1tASI1eSarwrd to." i)SelectSurtabac¢t1np pcli¢iesand aPPtheM CsiStent i) Makejudgements and estimatesthataoreasonèblEand pwdent IMI PrePariancIa1stat0MOrn grn9 ccryem bJsi4unkn it s wpproptiatettsPQsumethatttnim Ctin eSlee. ThètM5tEÈ5are5pLsibk1Ck0Pin9 proporaccwnting rNd5.Wcdisck6eithreasornabatCU1aCYtanYtrffloth8IMwncl p05¢ dth8ttust.Tlwarp&tsor95Psab1ef0rfe9Vard1Dg theass*tsclthptTUStand eftBkin9 reas¢)npbl•stepsfrythe prttwtand deiectiondfraud c¢herirrègularitle5. ISqL 2025 ppr bYtTrUSOs ontkw_.......-..............-.......................................................................................................... .- --.... .......... IMOKS C Onlrb&haTrFby.........._.......................................................................... ...-...-.-........-........-........................................______ Sigrwture..
THE MOREL CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees/members of The Morel Charitable Trust on my examination of the accounts for the year ended 31st March 2025 set out on pages 7 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 145 of the 2011 Act),
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
-
to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept (in accordance with section 130 of the Act); and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
................................................................................................ Lomax Pavey Independent Examiner's Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
16th October 2025
6
THE MOREL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025
| Notes INCOME Investment Income 4a TOTAL INCOME EXPENDITURE Charitable activities 5a Governance costs 5b TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) Realised gains/(losses) on Sale of COIF Investments Unrealised gains/(loss) 3 NET INCOME/(EXPENDITURE) Funds brought forward Transfers Between Funds TOTAL FUNDS CARRIED FORWARD |
Income Capital TOTAL TOTAL Funds Funds 2024/25 2023/24 £ £ £ £ 59,802 - 59,802 59,934 Unrestricted |
|---|---|
| 59,802 - 59,802 59,934 |
|
| 117,000 - 117,000 80,500 1,274 - 1,274 2,332 |
|
| 118,274 - 118,274 82,832 |
|
| (58,472) - (58,472) (22,898) 49,912 (16,652) 33,260 25,450 - (132,155) (132,155) 154,436 |
|
| (8,560) (148,807) (157,367) 156,988 42,671 2,168,806 2,211,477 2,054,489 - - - - |
|
| 34,111 2,019,999 2,054,110 2,211,477 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 12 form part of these financial statements.
7
THE MOREL CHARITABLE TRUST
BALANCE SHEEr
ASAT 31sr MARCH 2025
l$tCted
Inccmè
Funds
31-hl•r•25
Tpl•l
31.M-24
Fund
Npt•
Investmènts
2.019.999
2.019.gPk
2.168.806
2.019.999
2.019.999
2.168.806
Curi•ntAs1•ts
DebtDrsènd Prepa5rynonts
Cashai bank and In nd
36.psl
36.951
43.465
T•tl
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
the charity becomes entitled to the resources;
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment Income
This is included in the accounts when received.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
9
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES (Continued)
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Provisions for Liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
2. TANGIBLE FIXED ASSETS
The charity held no Tangible Fixed Assets during this or the previous financial period.
| 3. INVESTMENTS 01-Apr-24 Cost of Investments Sold Unrealised gains/(losses) on investments 31-Mar-25 Market value as at Market value as at |
Income Capital Total Total Funds Funds 31-Mar-25 31-Mar-24 £ £ £ £ - 2,168,806 2,168,806 2,028,920 - (16,652) (16,652) (14,550) - (132,155) (132,155) 154,436 Unrestricted |
|---|---|
| - 2,019,999 2,019,999 2,168,806 |
The historical cost of the investments totalled £704,334 (2023/24: (restated) £720,986).
| 4. INCOME Note a) Investment Income Dividends on COIF Units Interest on Funds on Deposit Interest on Funds at Bank |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 58,295 - 58,295 58,117 1,489 - 1,489 1,806 18 - 18 11 Unrestricted |
|---|---|
| 59,802 - 59,802 59,934 |
10
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2025
5. EXPENDITURE
Unrestricted
| Note a) Charitable Activities Grants to Organisations 7 b) Governance Costs Independent Examiner's Fee Bank Charges Professional Fees Website Costs |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 117,000 - 117,000 80,500 |
|---|---|
| 117,000 - 117,000 80,500 |
|
| 840 - 840 794 60 - 60 60 - - - 114 374 - 374 1,364 |
|
| 1,274 - 1,274 2,332 |
6. RESTRICTED FUNDS
The charity had no restricted funds during this of the previous financial period.
7. GRANT MAKING
During the year, the Trust made charitable grants totalling £117,000 (2023/24: £80,500) to support education, medical and social projects in the UK and overseas. No grants were made to individuals.
| Grants to UK Organisations Grants to International Organisations Grants to Individuals |
Total Total 2024/25 2023/24 £ £ 23,500 16,500 93,500 64,000 - - |
|---|---|
| 117,000 80,500 |
A grant of £2,000 to Waste Aid was committed in the year ended 31st March 2025 and paid in the current financial year.
11
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2025
8. CASH AT BANK AND IN HAND
Unrestricted
| CAF Cash Account COIF Charities Deposit Account |
Income Capital Total Total Funds Funds 31-Mar-25 31-Mar-24 £ £ £ 1,400 - 1,400 1,697 35,551 - 35,551 41,768 |
|---|---|
| 36,951 - 36,951 43,465 |
9. DEBTORS AND PREPAYMENTS
The Charity held no debtors or prepayments during this or the previous period.
10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted
| Accruals - Committed Grant Independent Examiner's Fee |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 2,000 - 2,000 - 840 - 840 794 |
|---|---|
| 2,840 - 2,840 794 |
11. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
There were no Creditors or Accruals falling due in more than one year at the end of this financial year (2023/24: £Nil).
12. STAFF COSTS AND NUMBERS
No staff were employed during this or the previous financial period.
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to Trustees or any persons connected with them during this financial period other than small reimbursements. No material transaction took place between the organisation and a trustee or any person connected with them.
12
ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025
THE MOREL CHARITABLE TRUST
CHARITY REGISTRATION No: 268943
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
THE MOREL CHARITABLE TRUST
CONTENTS
----- Start of picture text -----
Page
Legal and Administrative Information 3
Trustees' Report 4 to 5
Independent Examiner's Report on the Accounts 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 12
----- End of picture text -----
2
THE MOREL CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 268943 START OF FINANCIAL YEAR 1st April 2024 END OF FINANCIAL YEAR 31st March 2025 TRUSTEES SERVING DURING THE YEAR Dr James Morel Gibbs ENDED 31ST MARCH 2025 Mr William Malcolm Gibbs Mr Benjamin Morel Ohenaku Gibbs Dr Emily Angel Parry Mr Simon Edward Gibbs Dr Thomas George Richard Gibbs Mrs Abigail Keane Mrs Susanna Coan (Resigned 05.12.2024)
GOVERNING DOCUMENT
DEED DATED 9TH OCTOBER 1972
OBJECTS TO APPLY THE INCOME AND ALL OR SUCH PART OF THE CAPITAL THEREOF AS THE TRUSTEES SHALL IN THEIR ABSOLUTE DISCRETION FROM TIME TO TIME DETERMINE FOR SUCH CHARITABLE PURPOSES AS THE TRUSTEES SHALL DETERMINE.
REGISTERED ADDRESS 34 Durand Gardens London SW9 0PP
INDEPENDENT EXAMINER Lomax Pavey Independent Examiners Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
3
THE MOREL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025
Structure, Governance and Management
The Trustees for the year were: James M Gibbs (chair), William Gibbs, Simon Gibbs (secretary), Thomas Gibbs, Benjamin Gibbs, Emily Parry, Abigail Keane and Susanna Coan.
The Trustees held three meetings in the 2024/2025 financial year: on 22nd April, 22nd August and 7th January 2025. The second meeting was held in person with a zoom link available, the other two meetings were held by zoom. The meetings were chaired by James Gibbs, Thomas Gibbs and Emily Parry. Susanna Coan stepped down as a Trustee between the November and January meetings. The Secretary’s address remained 34 Durand Gardens, London SW9 OPP.
Objectives and Activities
The Trust’s aims as set out in the Directory of Grant Making Trusts are: support of the arts, in particular drama, organisations working for improved race relations, inner city projects and third world projects.
The Morel Trust was set up in 1973 by James Gibbs who has remained as Chairman of the Trustees since then. Other additions were made to the Trust shortly after by his brothers William and Simon Gibbs. Trustees now include the next generation of the family.
Projects supported are usually connected with places that the trustees have lived and worked, including the cities of Bristol, Brecon, and London and the countries of Ghana, Zambia, Malawi and the Solomon Islands. We do not support individuals and normally grant aid projects of which the trustees have personal knowledge.
Financial Review
The Trust's investment assets were valued at 31 March 2025 at £2,019,999.18 (31 March 2024: 2,168,805) and are held in the COIF Charities Investment Fund. In addition, at 31 March 2025 the Trust held £35,551 (31 March 2024: £41,768) in a COIF Charities Deposit Fund account and £1,400 (31 March 2024: £1,697) at the Trust's bankers, CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent.
The total of grants made was £117,000 (2023/24: £80,500). Income from dividends and bank interest was £59,802 (2022/23: £59,986). In the course of the year the Trustees determined to raise £45,000 by the sale of COIF Charities Investment Fund Income Units.
Achievements and Performance
This was the first year that we operated a website, providing potential applicants with guidance on how to apply for grants and a mechanism for the submission of applications on line. There were operating costs associated with this but reflections on the new system for making applications have generally been very positive.
Grants were made during 2024-25 to the following charitable organisations: ACTA, Africa 95, All we can, Armonico, Art+Christianity, Bristol Methodist Centre, Bristol Music Trust (Beacon Bristol), Christian Aid, Community Foundation Wales (for Penarth Cricket Club), EduSpots, For Refugees, Friends of Matthew Rusike Childrens Home, Ghana School Aid, Homemakers (Abergavenny), Horizon Medical Education, Intercare, ITSA Digital, Kielder Observatory, Medical Aid for Palestinians, Mosaic, Oriel Myrddin, Oxfam, Practical Action, Pump Aid, Sand Dams, Shooting Fish Theatre Company, Sofa, Solar Aid, TCA Foundation (Cricket Asylum), Temwa, Thackray Museum of Medicine, Transaid, Tree Aid, the UK Wallball Association,Village Water, Water Aid and Wrap.
The total of grants going on International projects was £93,500 and the total on UK projects was £23,500. All the grants were made via charities that operate out of the UK and subject to regulation by the Charity Commission. At the year end one approved grant (a grant of £2000 to “Waste Aid”) has been shown as an accrued amount.
4
THE MOREL CHARITABLE TRusr REPORT OF THE TRusfEES Icontinuedl FOR THE YEAR ENDED 31 ST MARCH 2025 TheCh3rrtwkt 2011 reqviresthetrusteest0prepafian¢o1%tataentsftredch financialarWhlchg3 true4rylf4irvew rlihestste ffai1sc1th¢trtaThd tsU1$thoÈnflhat peri0d.1npr8paFgtI&wJ teMents1tASI1eSarwrd to." i)SelectSurtabac¢t1np pcli¢iesand aPPtheM CsiStent i) Makejudgements and estimatesthataoreasonèblEand pwdent IMI PrePariancIa1stat0MOrn grn9 ccryem bJsi4unkn it s wpproptiatettsPQsumethatttnim Ctin eSlee. ThètM5tEÈ5are5pLsibk1Ck0Pin9 proporaccwnting rNd5.Wcdisck6eithreasornabatCU1aCYtanYtrffloth8IMwncl p05¢ dth8ttust.Tlwarp&tsor95Psab1ef0rfe9Vard1Dg theass*tsclthptTUStand eftBkin9 reas¢)npbl•stepsfrythe prttwtand deiectiondfraud c¢herirrègularitle5. ISqL 2025 ppr bYtTrUSOs ontkw_.......-..............-.......................................................................................................... .- --.... .......... IMOKS C Onlrb&haTrFby.........._.......................................................................... ...-...-.-........-........-........................................______ Sigrwture..
THE MOREL CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees/members of The Morel Charitable Trust on my examination of the accounts for the year ended 31st March 2025 set out on pages 7 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 145 of the 2011 Act),
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
-
to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept (in accordance with section 130 of the Act); and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
................................................................................................ Lomax Pavey Independent Examiner's Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
16th October 2025
6
THE MOREL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025
| Notes INCOME Investment Income 4a TOTAL INCOME EXPENDITURE Charitable activities 5a Governance costs 5b TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) Realised gains/(losses) on Sale of COIF Investments Unrealised gains/(loss) 3 NET INCOME/(EXPENDITURE) Funds brought forward Transfers Between Funds TOTAL FUNDS CARRIED FORWARD |
Income Capital TOTAL TOTAL Funds Funds 2024/25 2023/24 £ £ £ £ 59,802 - 59,802 59,934 Unrestricted |
|---|---|
| 59,802 - 59,802 59,934 |
|
| 117,000 - 117,000 80,500 1,274 - 1,274 2,332 |
|
| 118,274 - 118,274 82,832 |
|
| (58,472) - (58,472) (22,898) 49,912 (16,652) 33,260 25,450 - (132,155) (132,155) 154,436 |
|
| (8,560) (148,807) (157,367) 156,988 42,671 2,168,806 2,211,477 2,054,489 - - - - |
|
| 34,111 2,019,999 2,054,110 2,211,477 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 12 form part of these financial statements.
7
THE MOREL CHARITABLE TRUST
BALANCE SHEEr
ASAT 31sr MARCH 2025
l$tCted
Inccmè
Funds
31-hl•r•25
Tpl•l
31.M-24
Fund
Npt•
Investmènts
2.019.999
2.019.gPk
2.168.806
2.019.999
2.019.999
2.168.806
Curi•ntAs1•ts
DebtDrsènd Prepa5rynonts
Cashai bank and In nd
36.psl
36.951
43.465
T•tl
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
the charity becomes entitled to the resources;
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment Income
This is included in the accounts when received.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
9
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES (Continued)
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Provisions for Liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
2. TANGIBLE FIXED ASSETS
The charity held no Tangible Fixed Assets during this or the previous financial period.
| 3. INVESTMENTS 01-Apr-24 Cost of Investments Sold Unrealised gains/(losses) on investments 31-Mar-25 Market value as at Market value as at |
Income Capital Total Total Funds Funds 31-Mar-25 31-Mar-24 £ £ £ £ - 2,168,806 2,168,806 2,028,920 - (16,652) (16,652) (14,550) - (132,155) (132,155) 154,436 Unrestricted |
|---|---|
| - 2,019,999 2,019,999 2,168,806 |
The historical cost of the investments totalled £704,334 (2023/24: (restated) £720,986).
| 4. INCOME Note a) Investment Income Dividends on COIF Units Interest on Funds on Deposit Interest on Funds at Bank |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 58,295 - 58,295 58,117 1,489 - 1,489 1,806 18 - 18 11 Unrestricted |
|---|---|
| 59,802 - 59,802 59,934 |
10
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2025
5. EXPENDITURE
Unrestricted
| Note a) Charitable Activities Grants to Organisations 7 b) Governance Costs Independent Examiner's Fee Bank Charges Professional Fees Website Costs |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 117,000 - 117,000 80,500 |
|---|---|
| 117,000 - 117,000 80,500 |
|
| 840 - 840 794 60 - 60 60 - - - 114 374 - 374 1,364 |
|
| 1,274 - 1,274 2,332 |
6. RESTRICTED FUNDS
The charity had no restricted funds during this of the previous financial period.
7. GRANT MAKING
During the year, the Trust made charitable grants totalling £117,000 (2023/24: £80,500) to support education, medical and social projects in the UK and overseas. No grants were made to individuals.
| Grants to UK Organisations Grants to International Organisations Grants to Individuals |
Total Total 2024/25 2023/24 £ £ 23,500 16,500 93,500 64,000 - - |
|---|---|
| 117,000 80,500 |
A grant of £2,000 to Waste Aid was committed in the year ended 31st March 2025 and paid in the current financial year.
11
THE MOREL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2025
8. CASH AT BANK AND IN HAND
Unrestricted
| CAF Cash Account COIF Charities Deposit Account |
Income Capital Total Total Funds Funds 31-Mar-25 31-Mar-24 £ £ £ 1,400 - 1,400 1,697 35,551 - 35,551 41,768 |
|---|---|
| 36,951 - 36,951 43,465 |
9. DEBTORS AND PREPAYMENTS
The Charity held no debtors or prepayments during this or the previous period.
10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted
| Accruals - Committed Grant Independent Examiner's Fee |
Income Capital Total Total Funds Funds 2024/25 2023/24 £ £ £ £ 2,000 - 2,000 - 840 - 840 794 |
|---|---|
| 2,840 - 2,840 794 |
11. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
There were no Creditors or Accruals falling due in more than one year at the end of this financial year (2023/24: £Nil).
12. STAFF COSTS AND NUMBERS
No staff were employed during this or the previous financial period.
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to Trustees or any persons connected with them during this financial period other than small reimbursements. No material transaction took place between the organisation and a trustee or any person connected with them.
12