THE MARTIN MACKtNTOSH CHARITABLE TRUST REPORTS & FINANCIAL STATEMENTS S APRIL 2025 RAWSE, VARLEY & CO Chartcred Accounlants Bradford
THE MARTIN mAcKTOsH CKIRITABLE TRUST CONTENTS Page L¢gal & Administrative Information Trust¢¢s' Annual Report Independent Examiner's R¢tK)rt to the TStCeS Accounting Policies Statemenl of Financial Activities Balance Sheet Notes to the Financial Statements 8-10
THE MARTIN MACKINTOSH CHAIUTABLE TRUST LEGAL & ADMINISTRATIVE INFORMATION Charlty NAme: The Martin Mackintosh Charitable TNst Registered Charity Number.. 271411 PrincipAI Address: 2 The Gardens Park Sireet Mews Bath BAI 2BY Trustees: Nigel Martin Ma¢kintosh Esq Mrs G¢orgina Elizabeth Mackintosh Date of Cbarity Trust Deed: 25 March 1976 Bankers: Barclays Bank pl¢ 25 James Streel Harrogate HGI IQX Stockbrokers: Brewin Dolphin Ltd Woodstock Court Blenheim Road Marlborough Wiltshire SN8 4AN
THE MARTIIY MACKINTOSH CHARITABLE TRUST TRUSTEES, ANNUAL REPORT For the year ended 5 April 2025 The Trustees present their Annual ReFKTrrt and the unaudited Financial Statements of the Charitable Trust for the year ended 5 April 2025. Constilutlo The Trust was established by a Charitable Trust Deed dated 25 March 1976 and is administered by its Trust¢es. The current Trustees, all of whom served throughout the year. are shown on page I together with other administrative infortnation. In accordance with the Charitable Trust Deed, the power of appoinliDg or removing a Trnstee lies with a ntsjority for the time being of the Trustees. The Martin Mackintosh Charitable Trust is a r¢gistered Charity. number 271411. Charitablc objeetives and publit benefit Under the provisions of the Charitable Trusi Deed, the Tnte£S are dir¢¢led that the in¢orne and capital of ihe Trust are to be applied to make donations for such charitablc purposes or io such charitable institutions as the Trusle¢s in their absolute diretIOn may think fjt. The Trustees confimi thal ill rying out such directions ihey give due consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. Review of a¢¢iviti¢$ The Stal¢mcnt of Financial Activities for the year is detailed on pagc 6 of the financial slatements. The major chan8¢ to report is the Teceipt of the legacies of £25,000 each from the estates of Martin Mackintosh deceased and of Mrs Felicily Ann Mackintosh deceased. Investment income for the year of £3.809 has only slightly increased by £341 iyj comparison with the previous year as the investmenl of the legacy fund monies r¢¢eived was only effected late iiL the financial year. The full impact of the increase in investment funds will hopefully be ID the next y¢ar to 5 April 2026. With an anticipated increase in available funds for distribution, it is the Truste¢s' inlention to increase the level of grants mad¢ in future years. Finally* there was a modest increase in administration expenses of £905. The Trustccs exercised their power of inv¢$trnent to Contin the restructuring of thcir invcstment portfolio with the disposal of investments having an opening bwk value of £25.063 and a gain on dispos&l amounting to £431. The proceeds realised on sale of £25.494 together wilh the legacy funds received were applied in the purchase of investments at a book eost of £75,165. Plans for the future and reserves policy The Tru5tecs intcnd to continue to make grants to charitable institutions at a sustainable level and have a policy of maintaining reserves at a level sufficient for the purFrf.
THE MARTIN MACKINTOSH CHARrtABLE TRUST TRUSTEES, ANNUAL REPORT For the year ended 5 April 2025 Statement of Trustee$, r¢sponsibilities The TNstee8 are responsible for preparing the Trustees. Report and the financial statctILClliS in accordance with the Charitable Trust DeeQ the Charities Act 2011 and the Clwitics SORP (FRS 102). The financial statements have been prepared on the accruals basis and where thc accrnals basis is u the law applicable to charitlC5 in England & Wal¢s requircs Trustees to prepare financial slatements for each financial year which give a true and fair view of the state of affairs of the charity and of its income and expenditure for that year. Jn preparing such financial statements, the Trustees are required to: select suitable accounting policies & apply them consistently,. observe the methods and principles in Ihc Charities SORP (FRS 102)" make judgements & estsmatcs that are reasonable & prndenl; and prep8rc the financial statements on the going concern basis unless it is inappropriate to presume thai the charity will conttnue in operation. The Trustees arc r¢Sn8]b]e for keeping proper accounting rwords which disclose with reasonable accuracy at any lime the financial sItIon of the charity and to enable them to ¢nsure that the financial statements comply with the Charities Act 2011, the Charities SORP (FRS 102) and the provisions of the Trust Deed. They also responsible for safeguarding the asscis of the charity and hence for tsking reasonable steps for the prevcntion & detection of fraud & other irregularities. The Trustees, Annual Rq)ort wa5 approved by the Trustees and signed on their behalf by N M Mackintosh Esq (Chairman of TNstees) 13th May 2026
THE MARTIIY MACKINTOSH CHARITABLE TRUST INDEPENDEN[ EXAMINER'S REPORT to the Trustees of The Martin Mackintosh Charitable Trust I report on the financial statements of The Hartlcy Charitable Trust for the year ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes on page5 8 io 10. Respective responsibilities of the Trn8tees and the Examiner The Charity's Trnstees are responsible for the preparation of the Financi31 Statements ill accordallce with the Charities Act 2011 {'*he Act"). The Charity's Trustees consider tliat an audit is Thot required for this year under Seclion 144(2) of the Act and that an independt ex2mination is needed. It is my responsibility to: examine the financial statements under SKtion 145 of the Act. follow the procedures laid down in the applicablc Directions given by thc Charity Con)mission under Section 145{5)(b) of the A¢t,' and statc whether particular matters have come to my at¢enlion. Basis of Imdependent Examiner'$ Statemen¢ My &xamination was carrled out in accordance with general directions given by the ChaTitics Commission. An ¢xamination incIL¢S a rjeW of th¢ accounting rccords kepl by Ihe charity and a mparison of the a¢counts presented wilh those records. It also includes consideration of any unusual items or dksclosures in the financial statements and seeking explanalions from the Trustecs concerning any such matters. The procedures undertaken do not provide all thc evidence that would be requlred in an audit and consequently no opinion is given as to whether the ftnancial statements psent a 'true and fair view. and Éhe pOrt is limited to those matters set out in the stsl¢m¢nt below. Independent Examin¢r'5 Statement tn connection with my examination, no matter has cojne to my attention to indicate that: accoullting records have not been kept in accordance with Section 130 of the Act. th¢ financial statements do not ac¢ord with those records,. the fman¢ial statements fail to comply with the Charities SORP (FRS 102}. in my opinion the matter should be drawn to the attention of the reader to gain a proper understanding of the financial statements. P. M. Varley F.C.A. Rawse. Varley & Co ChartCTed Accountants Lloyds Bank Chambers Hustlergate Bradford BDI IUQ 13th May 2026
THE MARTIN MACKINTOSH CHARITABLE TRUST ACCOUNTING POLICIES The Trustees have adopted the following principal accounting policies which form all integral part of the financial statements: Basis of preparation The financial slalements have been prepared under the historical cost convelllion, as modifled by the revaluation of iThveslmellts at market value al the balance shect date. The fjngneial statements have been prepared in accordance with the provisions of Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicablc in the UK and the Republic of Ireland (FRS 102) (second edition - October 2019) ( Charili¢s SORP (FRS 102)") and with Financial Reporting Standard 102 "The Financial Reportino Standard applicabl¢ in the UK and Republic of Ireland" (FRS 102). The Chatity constitutes a public benefit entily as defined by FRS 102. Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in fiwiherance of the general objectives of the Charity. IDcoDie recognition All income, including investment income. is Included in the statement of financial a¢tivities when the charity is entitled to the income, th¢ receipt of the income is considered probable and tbe amounl can be quantified with reasonable accur4¢y. For Icgacies, entitlent is taken as the earlier of the date on which the estste is finalised or when a distribution is received from the e5tste. Exptndlture Expenditure is r¢cognised by the charity on the accruals basis inclusive of any VAT which cannot be recovered or when tlw¢ is a legal and constructive obligation to M third party and the amount of the liability can be measllred reliably. Charitable expenditUTe repr¢sents costs incurred in the delivery of charitable activities. Fixed asset investments Investm¢nts are staled at fair valu¢. In the case of investments traded on a recognised stock excllangc. fair value is deterniined by reference to quoted bid prices. Challges in the valualion of investments are reflected in the movement in funds in th¢ statement of financial activities.
THE MARTIN MACKINTOSH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 5th April, 2025 Unrestricted fwids Ineome General FuDd Fund Total 2025 Total 2024 Note Income: tKgacies received tnvestment income 50.000 3,809 3.809 3,468 Transfer- Reinvestment of Unit Trust aUmUlatIonS 45 45 3.764 50,045 53,809 3,468 Expenditure: Cht7n¢¢¥ble eywnditure." Grants to institutions {2,468) (2,468) (2,463) Smpport costs.. Administration expenses {2.41)0) (2,400) (1,500) Total expenditure 2.468) 4,868 (3,963 Income less expenditur¢ ,296 47,645 48.941 (495) Oth¢r recognfsed galns and los$e$ Realised gains on inveslment assct sales Unr¢alised (losses)/gains on investment assets 431 (10,612) 431 (10.612) 1,147 1,496 Net movement in fuDd 1.296 37.464 38.760 2.148 Funds brought forward at 6 April 2024 4.926 114,653 119.579 117431 Funds ¢*Tried forFvard at 5 April 2025 6,222 152,117 158,339 119.579 All the components of net moven]ent funds relate to continuitig activities. The notes on pages 8 to 10 forn) part of these financial stalements.
THE MARTIN MACKINTOSH CHARITABLE TRUST BALANCE SHEET 5 April 2025 Nole 2025 2024 Fixed assets Investments 151.825 112J35 Current assets Cash at bank 7.414 Current liabilities Creditors falling within onc ycar 900 600) Net curreJJt asyts 6.514 49,154 Totsl assets less current liabilities 158.339 161,489 Repre5ettted by Unrestricted funds: General fund Income lld 152,117 6,222 2,495,419 23,498 158 339 2518917 The financial statements on pages 5 to 10 were approvcd by the Trustees on 13 May 2026 and signed by N. M. MACKINTOSH ESQ .&li.1l/l F - t6L . MRS G. E. MACKINTOSH TSte¢S The notes on pages 8 10 10 fonn part of these fmancial statements.
THE MARTIN MACKINTOSH CHARITABLE TRUST NOTES TO THE FII¥ANCIAL STATEMENTS Year ended S April 2025 2025 2024 LegAcies Income Estate of Felicity Am) Mackintosh deceased Estate of Martin Mackintosh d¢c¢as¢d 25.000 25,000 50,000 2 Investment income Dividends received from Stocks & Shares of U.K. Companies Distribulions received from Unil TTht Holdings Distributions Teceived from Overseas Unit Tnist Holdings Dividends rec¢iv¢d from Overseas Securilies Distributions received from Corporate Bonds Interest received from British Government Securilies 236 2.828 196 17 245 183 352 2.813 123 91 3,705 3,379 Inierest received on deposits with: Brewin Dolphin Ltd 104 89 Total invcstmcnt income 3,809 3.468 3 Grnnts to cbaritable institutions The Art Fund The Bath Choir Society (City of Bath) The Batli Prescrvation Trust Ltd Bl(xMJ Cancer U.K. C.P.R.E. (North Yorkshire Branch) C.R.Y.- Cardia¢ Risk in the Young Concern Worldwide Forest of Avoll Trust Friends of St. Stephen's Church Genesis Trust (Batb) Home for G(K)d Millimetres to Mountains Prostale Cancer U.K. Royal United Hospithl (Bath) Charitable Trust St. Pet¢r's Church. Harrogate Tommy's War Memorials Tru8t 79 75 63 50 50 5(M) 89 65 2(K> 50 50 300 250 5(K) 500 500 210 500 300 2.468 2.463
THE MARTIN MACKINTOSH CHARTTABLE TRUST NOTES TO THE FINANCIAL STATEhlLNTS Year ended 5 April 2025 2025 2024 AdminisrtratlOD expeDses Independent examin&s remunerdlion.. Examination fe¢ Other accountancy fees 180 720 600 900 600 Portfolio managcmcnl fees 1.500 900 Total administration expenses 1,500 Transactions with trustees and otber related parties No r¢muneration or other benefits were paid to the Trustees and no Trusl¢¢s' expenses wer¢ incutT¢d cither year. 5 Flxed asset investments Quoted investments: Market value at 6 April 2024 112,335 108,063 Less: Disposals at opening book valuc lTrroceeds £25,494, Gain £431) 25.063 24.210 87.272 83.853 Add.. AcquisitlDns at cost Net gaiThl(loss) on revaluation at 5 April 2025 75,165 10.612 26.986 1,496 Market value at 5 ApIil 2025 151,825 112.335 Historical cost at 5 April 2025 165 111 114,790 Credilors Amounts falling du¢ within one year. Accruals 900 600
io THE MARTIN MACKINTOSH CHARI'I'ABLE TRUST IYOTES TO THE FINANCL4L STATEMENTS Year ended 5 April 2025 Unrestricted funds IDcome Gener¥1 Total funds 7 ADaly$is of net assets between fund$ Fund balances at 5 April 2025 are represented by.. Investments Current assets Current liabilities 151.825 ,192 900 151.825 7,414 900 6,222 Total fiet assets 152 117 158 339 Net r¢alised108ses included above.. On investment assets 13,286 13,286 Rcconcilialion of movcmcnt in unrcalised gains al losses on investment assets: Net unrealised gaiy)s at 5 April 2024 In respect of disposals in the year (2,455) 219 (2.455) 219 (2,674) (2,674) Net gwarising on revaluation in year Net unrealised losses at 5 April 2025 13 286) 13286