Charity registration number.. 273978 The BMTA Trust IA Charitable Incorporated Organisalionl Annual Report and Financial Statements for the Year Ended 30 June 2025
The BMTA Trust Contents Reference and Administrative Details Trustees, Report 2to5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes lo the Financial Slalements 91015
The BMTA Trust Reference and Administrative Details Trustees A D H Pearson H A Burrows SGMCafvn A Gallloppoinled 15th January 20251 D Garrall lappoinled 24th July 20241 K Humby (resigned 21st August 20251 S G James DEMain Trust Secretary J R Dolphin Office A(tdres8 27 Old Gloucester Street London WC1N 3AX Charity Reglstratlon Number 273978 Banker8 CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment Advisors JM Finn & Co 25 Coplhall Avenue, London EC2R 7AH Independent Examiners Ward VlliaMS Belgrave House 3943 Monument Hill Weybridge Surrèy KT13 8RN Page 1
The BMTA Trust Trustees, Report (Continued) The Trustees presènt thé annual report together with the financial statements and independent examinerfs report of the charity for the year ended 30 June 2025. Obj•etiv8s 8nd actIvIaS Objects andaims The principal activrfLy of the charity is that of a charitable trust Ilhe 'Trust'l which gives welfare gr8nls. The results for the year and the financial Position at the year-end were considered satisfactory by the Trustees. The following extract from the Con$lilution of the Trust give5 an explanation of the objects of the Trust. he objeGts of the CIO are to provid& grants lo.. a) Persons Trsidentln the United Kingdom, Channel Islands orlsle of Man who are pwr, needy, incapacitated, infim? orothenvise in neGessilous oircumslances and the wivss, widows, husbands, wowers, parents, children or other dependents of such persons vwlh a preference forpeTrons who 8Tr employgd orh8vé been èmployéd in thé motDrtradg ormotorindustry,. b) Other chaiitable organis8tions loc&ledin the Uniled Kingdom, Channel Islsnds or Isle of Man with the puwose of providing SlJPPOrt to the s8me persons as idenbfied in a) above,. c) Training institutions or similarorganisalions located in the Unitsd Kinodom, the Channel Islands orthe Isle of Man providing training andsupport related to the motor trade orfflotor industry to persons who alp either employed orare seeking to be employed in Ihe motortrade or motor industry,. and dj Persons sidentr in the United Kingdon7, Chann81 Islands orlsle ofman who arg poor, ne or otheffwise in necessilous C1UmStanceS that are receiving training orsupport fron7 institutions or orgsnj88fions &IgI18 for grgnt support undér c) al)ov8.' In 2025, the Trust'5 focus remains on this group, including provision of grants to another motor industry charity I'Ben" the Motor and Allied Trades Benevolent Fund) for welfare to those employed in or retired from the aulomolive industry. The Trust has also actively dev&lop@d its direct grant giving activities to include training grants to young people seeking to enter the automollve industry, to individuals seeking to acquire new motor industry skills and to organisalions providing training for these skills. The Trustees confimi th* they have refed to the guidance ¢ontsine(S in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives in planning fvtuie activities and setting the 9ranl making policy for the year. The Trust'8 inve&lment policy aims to produce a 8u$tsin8ble income and maintain the real value of the investments in accordance with the Trustee Investments Act 1961. Reserves are retsined lo ensure that these objectives can be met. There have been no matellal changes in policy since the last Trustees, Report. Public benefit The Trustees confirm that they have complied with the requirements of section 17 of the Charitles Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales, Grant maklng poll¢les The Trus¥s Development and Grants Manager I'DGM'I reviews all applications received for the Trustees, consideration. DecAsions on award of grants are made at periodic Trustees, meelillgs and through delegated authority lo a Grants Sub-cornmittee comprising a minimum Df two Tru8lee8. Applications from motor vehide apprentices who are studying at Further Education I'FE'} Colleges and individuals seeking lo develop new skills applicable to the aulomolive industry continues lo be the main aa for development by the DGM. Funding is provided lo support, Inlei alie, course ¢osls, lo(>ls. and travèl cosls lo and from work or educational esl8bli$hments. Grants are 8180 considergd for older employees within the Page 2
The BMTA Trust Trustees, Report (Continued) automotive industry seeking to develop their skills and to organi$ion$ providing training for developing such Following the decision of tho Trustsas in 2022123, tha basis on which il provides financial support for welfare to individuals connected lo the aulomolive industry was changed. Approachès for welfare cases received by the Trust are now referred lo Ben and the Trust has continued its relationship by co-funding for Ben for these and other welfare cases received directly by Ben At each Council meèting. the Trustees deteTmine a fixed amount of grant to be provided lo Ben and receive a report from Ben as to how théy have applied this nding to welfare cases that they have re¢eived, reviewed and approved. Achievements and performance During the year, the DGM has conlinued to contact staff al FE clegeS, motor Irainlng ¢enlres and motor industry a$so¢ialions to assist in helping identify individuals who need financial help. Work has continued on the Tmsl's marketing and comrnunications strategy to attract interest, particularty from the younger generation. A r@d8sign of the Trust's website and grant application prixess was launched during the year and is yièlding rÈsults in terms of grant applications. Vvhilst the Trust websitè ¢onlinues lo be accessed by individuals requiring help, thè Trustees recognise that social media is the main ommunicalion channel for young people. The Tnjst's social media presence therefore continues to be an a8 of review and development. A total of 27 direct motor industry completed applications were considered by the Trustees orwhi() 2012023- 24.. 81 were approved and 1 welfare application was referred ID Ben, The total grant sUPPOrt provided was £77,198 12023-24.. £63,286>. The total number of grants made to beneficiaries linduding beneficiaries receiving co-funding through the TNst's relationship with Ben and other harilable organisations lo whom grants were madel was 96 (2023-24.. 951. This total w88 split between= Grarrts lo Ben forcTrfvnding ofwelfare cases.. 7612023-24.. 851 tolalling £45,00012023-24.. £45,000) of which £45,166.70 was allocated by Ben, in¢lvdlng an amount unallocated from previous years 12023-24.. £44,542) representing an average of £594 per case 12023-24.. £524 per case). In addition. the Trust provided the followng grants to Ben in 2024-25.. £10,00012023-24". £10,000) lo the Ben Christmas Family Project. £3,00012023-24'. £nill to the Ben Summer Family Projert. Grants for direct apprenlieeltr8ining Telaled cases.. 18 12023-24.. 71 totalling £16,351 12023-24.. £5.4861 representing an average of £908 per case12023-24.' £783 per casel,. Grants to training organisations.. 2 1202>24.. 01 tot3lling £2,847 {2023-24'. £nill representing an average of £1,42312023-24. £nill," and Grants for direct welfare cases.. Nil 12023-24.. 31 totalling £nil 12023-24.. £2,800) representing an average of £nil per ¢ase12023-24'. £933 per casel. The split of application paid between those for welfare applicants and those from direct rnotor industy apprentic¢ and organisalton applican15 wa5 58.5141,5 /.12023.24.' 81119%). Golng con¢$rn The ffinawal stslements have been prepared on a 90ing wncern basi8. The Trustees assess whether the use of going Concern is appropriate i.e. whether there is any material uncertainty related to events or conditions that may cast sigllificant doubt on the ability of th@ charty to continue as a going concern. The Trustees make this assessment in reswcl of a period of one year from the dale of approval ol the financial slatemenls. The nel asset position of the Trust is £6,464,451, the majority of which lateS lo inveslmenls, with cash reserves held being £258,301. On this basis the Trustees Consider rt appropriate lo prepare the financial statements on a going eonc6rn basis. Page 3
The BNTfA Trust Trustees, Report (Continued) Structure> governance and managoment Nature ofgoveming do¢ument The Trust is converted from a limited company to a charitable incorpor81ed organisalion {"CIOI with effect from 27, March 2024 and is governed by its constitution. In accordance with the operation of the law, the 3ssÈts and liabilities of the company We autom*i¢ally vestèd in the CIO at the datè of conversion. The financial data for the year to 30, June 2024 presented in these financial statement and the Trustees, report for tha period prior to thè datè of convarsii)n rèlatèd to th& company. The Trust is registered as a tharity with the Charity Commission. Recruitmentandappointment of Trustees Vvhen a vacancy arises for a Trustee. any existing Trustees may suggest suitable new candidates lo fill the vacancy and 8 decision on the appoinlmenll81 is mad& by a majority vote of these existing Trustees. Organisatsonal struclu The organisalion of the Trust is as follows.. There wer& eight Trustees serving during the financial year to 30° June 2025. A minimum Of three Twslees ¢onslltules the Investment Sub-committee, which makes decislons based on the recommendations of the Trusvs Investment Advisors. The Investment Sub-committee pOrts to the fvll Council al meetings. A minimum of any kn Tnjslees con3ts"tu1#5 the Grants Sub-committee. which has delegated authorty lo make decisions on grant awards up to a maximum of £1,000 per individual award based on the r8comm6ndations of thè DGM. Th& Grants Sub-committeè tyports to the full CoLJneAI at meetings. The Trust has a Tnist Secretary lo deal rith the financial and adminislralive affairs of the charity and a DGM to deal with applications. submit them to the Trustees and implement the Trustees. decisions relating to the award of grarrts. Financia5 instruments Objectives andpolicles The charity's activities expose it to financial risks. inGluding credit risk. The investrent managers of the investment portfolio ensure that there are sufficient levels of diversification within the portfolio lo fflane these risks and clear instructions have been given by the Trustees detailing the acceptable levels of risk they are willing to a¢¢epl when investing funds. Credtt rlsk The Trust's principal financAal assets are bank balances and cash and investments. Thè Trusvs credit risk is primarily attributable to its investments. The investment manag¢rs who manage the investment portr(>lio are 8dvisÈd by the Tm8tÈes of the level ol risk that 18 8¢¢eptsble lo the Trust. This investment policy is dearly documented. The investment managers ensure that a diversified portfolio is held. reducing exposure to significant levels of credit risk. ststtrment of Responsibiliti93 The Trustees are responsible for preparing the Trustees, report and the financial stslements in 8ccordance ¥Mth the Charities Act 2011, the Charities IAc¢ounts and Reportsl Regulations 2008 8nd observing Ihs methods and principles in the Charities Statement of Recommended Practice I'SORP ),' Under the Charities Act 2011 the Trustees are responsible for keeping adequate accounting records that are suffscient to show and explain the charity's transactions and disclose with reasonable accuracy at any time thè fin8n¢1al pc)srtion of the charity. enabling them lo prepare the fin8ncial slalemenls. They are also responsible for saleguarding the assets of the charity and hence for taking reasonable steps for the Page 4
The BrA Trust Trustees, Report (Continued) preventlon and dete¢tlon of fraud and other irregularttie8. DI10¥Ure of information to the independent examiner The Trustees have decided to retain the Trust's previous auditors, Ward Williams, Chartered Accountants as independent examiners. Ead) Trustée has takèn step$ that they ought to have taken as a trustee in order lo make themselves aware of any relevant in*ormalion and lo establish that the Charity's independent examiner is aware of that information. The Trustees confimi that there is no rèlevant information that they know tsf and of which they know the Independent examiner is unawaff. 15th January 2026 The annual report was approved by the Trustees on ........................... Signed on behalf of the Trustees by.. J&r&ry J.R. Dolphin Trust Secretary Page 5
The BrA Trust Independent Examiner's Report To the Members of the BMTA Trust I report to the trustees on my examination of the financial statements of The BMTA Trust (the charity) for the year ended 30 June 2025. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance wrth the requirernenls of the Charities Act 2011 1'Yhe ACVI. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my exarmination, I have followed all the applicable Directions gnien by the Charity Commission under section 1451Sllbl of the Act. Independent examiner's statement I have completed my examination. I confim) thèl no material matters have come to my attention in connection with the examination which give5 me cause lo believe that in, any material respect-. the accounting records were not kept in accordance with sects'on 130 of the Charities Act., or the accounts did not accord with the accounting records., or the aGcounls did not comply with the applicable requirements concerning the fomi and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an iRdependenl ex8mlngtion. I have no concerns and have come acTOSS no othèr matters in eonnection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Coll Hamllton CCA Ward Wfilliams Bay Lodge 36 Harefield Road Uxbridge Middlesex UB8 1PH Dated.. /iliL. Pagè 6
The BMTA Trust Statement of Financial Activities for the Year Ended 30 June 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Totsl 2024 Note Income and Endowments from: Investment income 226,386 228.386 199,533 Totsl Income 226,386 226.386 199,533 Expendlture on.. Raising funds Charitable activities Othef expenditure Total expenditure Gainsllosses on investment assets 138,2991 1131,3111 18,656 (188,2661 67,037 138,2991 1131,3111 18,856 1188,2661 67.037 136,2731 1106,6801 21,603 1164,5561 382 867 14 Nel incomeldoficil 105,157 105,157 417,844 Nel movement in funds 105,157 105,157 417,844 Reconciliation of funds Total funds brought forward 6.359,294 6,359,294 5 941,450 Total funds carried forward 14 6,464,451 6,464,451 6,359,294 All of the charitable incorporated organisation's activities derDie from continuing operations during the above two periods. I funds for the year ended 3D June 2024 were also unrestricted. Page 7
The BMTA Trust Balanco Sheet as at 30 June 2025 2026 2024 Note Fixed assets Inv#slmenls 10 6,203,656 6,123,076 Current assets Debtors & Prepayments Cgsh ?1 bank and In hand 11 12 9,347 258 301 267,648 9,163 242,271 Credltors: Amounts falllng due wlthln one year 13 Net current asset8 236.218 Net assets 6 464 451 6,359294 Funds of the charity: Unrèstrictgd income funds Unrestrlcted funds 6,464 451 6,359 294 Total funds 14 6 464 451 6 359 294 The financial statements on pages 2 10 15 were approved by the tN$te@s and authorisod for issu8 on 15th Janua.ry. 2026. and signad on their beha by: A.D.H. Poarson Trustee Page 8
The BMTA Trust Notes to the Financlal Statements for the Year Ended 30 June 2025 1 Charty status With effect from 27th March 2024, the BMTA Trust successfully converted from a charitable company incorporated in England and limited by guarantee to a charitable incorporated or9ani8alion. The rinancial data presented in these financial statements and the Trustees, report for the period prior lo the dale of conversion related lo the company. 2 Accounting policies Summary of Significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial stslemenls are set out below. These policies have been consistently applied lo all the years presented, unless otherwise slated. statemgnt of compliancg The finsncial statements have been prepared in 8ccordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applic8ble in the UK and Repub5ic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 1021), the Finaneial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021- They also comply with the Companies Act 2D06 and Charities Act 2011. Ba818 of praparation The BMTA Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant aceounting policy notes. The fin8ncial ststements have been prepare(l in £'s, which is also the functional currency of the BMTA Trust. The values disclosed within the financial statements are not subject lo rouncling. Going concern The financial statements have been prepared on a going concern basis. The Trustees assess whether the use ofgoing conrn is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the BMTA Tmsl to continue as a going concern. The trustees make this assessment in respèct of a period of one year from the dale of approval of the financial slalemenls. In¢omo and endovmients Al income is recognised once the BMTA Trust has entitment to the income, it is probable that the income will be reived, and the amount of the income reIvale can be measured reliably. Investment income Investment income is recognisfjd on a receivable basis. Expenditure All expenditure is recognised once there is a legal or conslruclive obligation to that expenditu, il is probable settlement is required and the amount can be measured reliably. All costs are allocated ID the applicable expenditure heading that report the aggregate of similar costs lo that category. Vvhere costs cannot be direotty allributed lo a particular heading, they have been allocated on a basis consistent with the use of resources. Ralslng funds These are costs incurred in the management of investments. Page 9
The BMTA Trust Notes to the Financial Statements for the Year Ended 30 June 2025 Charitable activities Charitable expenditure comprises those costs incurred by the BMTA Trust in the delivery of ils sclivities and services for its beneficiaries. 11 includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Grants payable Grants payable are payments made lo third parties in the furtherance of the charitable objectives. Where the BMTA Trust gives a grant with condibons for ils payment being a specific level of service or output to be provided, such grants are only recognised in the statement of financial activities once the recipient of the grant has provided the specific service or output. Grants payable without perfomiance conditions are only recognised in the accounts when a commitment has been made and there are no conditions lo be mel relating lo the grant which remairtr in the control of ¢harity. Support costs Support costs include central functions and have been allocated to activity CO8t categories on a basis consislenl with the use of resoLJrces. Governance costs These include the costs attributable lo the BMTA Trust's cornpliance with constitutional and ststutory reqU1Ments, including independent examination, strategic managefnent and Trustee's meetings and reimbursed expenses. Taxation The BMTA Trust is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il rneels the definition of a charitable enlily for UK Corporation tax purposes. Accordingly, the BMTA Trust is potentially exempl from taxation in respect of income or capital gains reiVed within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to charitable purposes. Flxed asset Investments Fixed asset inveslrnents, other than programme related investments, are included al market value at the balance sheet date. Realised gains and losses on investments are calculaled as the difference between sales proceeds and their market value al the start of the year, or their subsequent cost, ancl are charged or credited to the Statement of Financial Activities in the period of disposal. Unalised gains and losses represent the movement in market values during Ihe year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Cash and ¢a$h gquivalonts Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible lo a known amount of cash and are subject to an insignilicanl risk of change in value. Fund structure Unrestricted income funds are general funds thal are available for use al thè Trustees. discretion in fvrtheran of the objectives of the BMTA Trust. Financial instruments The BMTA Trust only has financial assets and financial liabilities ol a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value. Page 10
The BMTA Trust Notes to the Financial Statements forthe Year Ended 30 June 2025 3 Investrnent income Unrestricted funds Total 2025 Total 2024 General Interest Other income from fixed asset investments 10,605 215,781 226,386 10,605 215,781 226.386 7,139 192,394 199,533 4 Expenditure on raising funds Unrestrlct¢d funds Total 2025 Totsl 2024 Gen9ral Other investment management costs.. Adminislralion of the investments 38,299 38,299 38,299 38,299 36,273 36,273 5 Expenditure on charitable activities Unrestrictsd funds Note Total 2025 Total 2024 General Grants expended Development & Grant Manager Rebranding and Website Reclesign 77,198 48,913 5.200 131311 77,198 48,913 63,286 40,397 2,997 1 CE,680 131311 6 Other expenditure Unrestricted funds Total 2025 Total 2024 General Note Independent examination of the financial ststements Trustees, expenses Other resources expended 2,820 399 15.437 18,656 2,820 399 15,437 18,656 2,714 17.944 21,603 7 Grantwmaking Analysls of grants Grants to individuals 2025 2024 Analysis Grants expended 77.198 63,286 18 grants were paid lo or on behalf of individuals12024'. 10) snd grants lolalling £60,847 were paid lo 3 organisations12024.' £55,ODO lo 1 organisalionl. All grants expended were eitherfor individual welfare or apprenticellraining support purposes. Page 11
The BMTA Trust Notes to the Financlal Statements forthe Year Ended 30 June 2025 8 Net incomingloutgoing resources Nel outgoing resources for the year include.. 2025 2024 Fee for ind@P8ndonl examination of the financial statemenls 2.820 2,820 2,714 2,714 Tru8te•s' remuneration and expen8e8 The expenses paid lo the Trustees consisted of reimbursement for Iravelling costs for Trustees, meetings. No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 10 Fixgd assot invgstm•nts 2025 2024 Other investments 6,203,856 6.123,076 Other Investments Llsted investments Cost or Valuation Al 1 July 2024 Revaluation Additions Disp0581s AI 30 June 2025 6,123,076 {137,1521 1,802,812 1,585,080 6 203 656 Net book value At 30 June 2025 AI 30 June 2024 6,203,656 6.123.076 The market value of the listed investments as al 30 June 2025 was £6,2D3,65612024 - £6,123,076). At the year-end 60.3Vh12024'. 51.9QAI of the charity's portfolio was held in overseas investrments. 11 Dèbtors 2025 2024 Accrued Interest Receivabl$ 9,347 9,347 9.163 9,163 Page 12
The BP¥TfA Trust Notes to the Financial Statements for the Year Ended 30 June 2025 12 Cash and cash equlvalents 2025 2024 Cash at bank Short-lerm dèposits 27,674 230.627 258,301 19,863 213,245 233,108 13 Creditors.. amounts falling due wlthln one year 2025 2024 Accruals 6,853 6,853 6,053 6,053 Page 13
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The BMTA Trust Notes to the Financial Statements forlhe Year Ended 30 June 2025 15 Rglated party trans8ction8 There were no related party transactions in the year. Page 15