Charity number: 00275487 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## CONTENTS ||Page| |---|---| |Reference and administrative details of the Charity, its Trustees and advisers|1| |Trustees' report|2 - 6| |Independent auditors' report on the financial statements|7 - 9| |Statement of financial activities|10| |Balance sheet|11| |Statement of cash flows|12| |Notes to the financial statements|13 - 24| THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 |Trustees|D J Banister| |---|---| ||E D Banister| ||E M Banister| ||E F Cairns| ||L P Glaister| |Charity registered
number
00275487
Principal office
Stanley Tee LLP
95 London Road
Bishop's Stortford
Hertfordshire
CM23 3GW
Independent auditors
Price Bailey LLP
Chartered Accountants
Causeway House
1 Dane Street
Bishop's Stortford
Hertfordshire
CM23 3BT
Bankers
Barclays Bank (until August 2025)
1 Churchill Place
Canary Wharf
London
E14 5HP
Unity Trust Bank (from August 2025)
Four Brindleyplace
Birmingham
B1 2JB
Solicitors
Tees Law
Tees House
95 London Road
Bishop's Stortford
Hertfordshire
CM23 3GW|| Page 1 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## TRUSTEES' REPORT ## FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statements for the year from 1 January 2024 to 31 December 2024. ## CONSTITUTION The unincorporated charitable trust is governed by the trust deed dated 19 December 1977. The objects of the trust are widely charitable, although the Trustees have determined to utilise the income and capital of the trust fund towards the relief of poverty, supporting educational projects and the promotion of peace. ## METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The Trustees named below were appointed by the trust deed dated 19 December 1977 or by deeds of appointment dated 27 August 1998, 12 May 2009, 21 February 2013, 29 April 2015 and 30 June 2019. David John Banister Elizabeth Banister Letitia Pamela Campbell Glaister Eleanor Marianne Banister Edmund Frederick Cairns ## POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES The appointment of any new trustee is by invitation of the existing trustees. New trustees would be provided with a copy of the trust deed and have a meeting with the existing trustees to explain the aims and objectives of the trust. ## ORGANISATIONAL STRUCTURE AND DECISION MAKING The Allan & Nesta Ferguson Charitable Trust is managed by the Trustees, who have delegated day to day administration to Tees (solicitors), of Tees House 95 London Road, Bishop’s Stortford, Hertfordshire. The Trustees have appointed Price Bailey LLP of Causeway House, 1 Dane Street, Bishop’s Stortford, Hertfordshire as auditors. The Trustees received investment advice on a portfolio review basis from Quilter Cheviot of Senator House, 85 Queen Victoria Street, London. The Trustees had a bank account with Barclays Bank, this was switched to Unity Trust Bank in August 2025. ## RISK MANAGEMENT The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. The trustees are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The Trustees are bound by the governing deed and operate in accordance with the trust’s conflict of interest policy. The trust operates in accordance with it’s risk management policy and it's safeguarding policy both of which were most recently updated on 22 April 2024. The policies were reviewed in March 2025 and will be reviewed again in Spring 2026. The Trustees have identified the following key risks to the charity: Misuse of the trust funds by recipients – The Trustees seek to limit exposure through funding policies, the trust will not provide funding to educational institutes based outside the UK or any charitable organisation not registered with the Charity Commission in England and Wales, Scotland or Northern Ireland. The trustees will not make payments direct to an individual. Page 2 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Misuse of funds by trustees/advisors – The trust is controlled by the five trustees and is reliant on services provided by Tees & Quilter for day-to-day administration. The process of majority decision making, regular accounting checks, multiple approvals for grant payments, reviews and annual external audit minimises the trust’s exposure to risk. Exposure to Informa plc – The trustees are conscious the trust continues to have significant financial exposure to Informa plc with the trust’s holding in Informa representing a large proportion of the assets within the trust. The trustees have a continued policy of reducing the trust’s exposure to fluctuations in Informa’s stock price through sales and further diversification of the investments as and when they feel markets allow. ## POLICIES, OBJECTIVES AND THE PUBLIC BENEFIT The trust is a grant making charitable trust and intends to achieve its constitutional aims set out above, by making grants targeting the trust’s key themes of education, development and the promotion of peace. The charitable trust fulfils its objectives through making grants to other charitable bodies registered with a UK charity regulator as well as UK universities. The Trustees aim to promote the value and opportunity of education, peace and reconciliation. They seek to have a positive impact through funding projects and scholarships which go on to have a wider impact in their communities for years to come. ## GRANT MAKING POLICY The trustees accept applications online through the trust’s website. The trustees sometimes invite applications from UK universities to fund scholarships that support the key principles of the trust, providing access to education for those otherwise unable to access the opportunities that education provides for the improvement of society as a whole. The trustees also occasionally invite applications from UK charities engaging in projects supporting the promotion of peace and reconciliation through understanding and education. The trust’s grant making policy is focused on achieving its objectives for the public benefit by concentrating it’s resources on the following purposes: - The support of education in the UK & overseas - The promotion of peace through international friendship and understanding - To support further sustainable progress in the developing world - To achieve these objectives the Trustees accept applications for funding from the following applicants: - UK registered charities undertaking projects in the UK and abroad. Candidates are required to demonstrate that they have a minimum of 30% matching funding in place for the trustees to give consideration to their application. - UK universities to fund scholarships that support the key principles of the trust, providing access to education for those otherwise unable to access the opportunities that education provides. It is the trustee’s policy to only provide support to charitable projects in line with the Trust’s objectives that are run by charities registered with the Charity Commission of England & Wales, Scotland or Northern Ireland. This is to ensure the recipient charity is required, by law, to comply with the requirements set out by one of those bodies. The trustees apply this restriction to protect the funds granted and ensure, as far as possible, the funds provided are applied to further the charitable objectives of the charity. It is the trustees’ policy to pay grants concerning any individual directly to the educational institution or charity to ensure they are used to achieve the trustees’ objectives of supporting education, peace and support of the developing world. For any grant awarded equal to or in excess of £150,000 the trustees require the recipient of the grant to enter into a gift agreement confirming the purpose of the award and setting out the reporting requirements. Page 3 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ## THE PUBLIC BENEFIT In setting their grant making policy the trustees confirm that they have had regard to the guidance provided by the charity commission on public benefit. The trustees are conscious, as a grant making charity, that they have no direct control over the success or failure of the individual projects to which they provide funds. The trustees do, however, seek to measure the success of grants to ensure that the funds are used to further the objectives of the trust. The trustees only make grants where the motivation of a project clearly aligns with the target themes of the trust and success is measured in a number of different ways depending on the circumstances of each grant. - For university scholarships, success is measured by the successful completion of the course by the student(s) who otherwise would not have had the funds necessary to complete their studies. - For other educational, overseas development, peace and reconciliation grants the trustees require the recipient charity to provide them with a report after 12 months to illustrate the progress of the project - Success is determined based on the expectations of the project outlined in the initial application made to the trustees. The trustees look to support projects that have positive impacts on the communities in which they operate over the longer term. The Trust awarded £30,000 to Mine Advisory Group (MAG) in 2024, in support of a twelve-month project to address unexploded bombs in Battambang and Ratanakiri, Cambodia. An Explosive Ordnance Disposal team removed and destroyed indiscriminate weapons, significantly reducing the serious risk of injury or death in the community. Clearing landmines enabled the community and other NGOs access to land, supporting farming, future development and reducing poverty in the area. The project has a continuing impact on the safety of the community having delivering safety briefing sessions, educating people to identify, avoid and report deadly items. The Trust awarded a grant of £75,000 to WaterAid in 2024, in support of their three-year Catalysing Change project, bringing water and sanitation services and hygiene education to over 163,000 people across Badin District, Pakistan. The project targets 410 hamlets, 20 schools and five local healthcare facilities. WaterAid works with local governments to engrain sustainable systems, and the facilities are managed by local volunteers, meaning the project will have a long-term and large-scale impact. The facilities further support education by enabling girls to stay in school upon reaching puberty, by ensuring they can manage their periods safely and privately. The trustees review, on a monthly basis, applications to the trust as well as meeting bi-annually to discuss nonroutine applications. All applications are assessed by the trustees against the trust’s objectives and policies to ensure the project is in line with the trust’s stated objectives. The trustees review the size of the grant requested, other funding in place and the value for money offered by the project. Value for money is assessed based on the impact of the project, i.e. how many people are reached, any lasting benefit of the project and any future opportunities provided to the individuals reached and their communities as a result of the project/funding. In determining whether to offer a grant to an applicant the Trustees will also consider the time a charitable applicant has had charitable status, their level of fundraising activity and the charity’s annual turnover when making decisions on funding. ## ACTIVITIES FOR ACHIEVING OBJECTIVES The trustees continue to meet regularly to discuss grant applications and ensure the trust’s funds are used to achieve its objectives. The trustees require charitable organisations who have received grants to provide reports on how the funds have been used to complete or advance the objectives of the project funded and by default the trustees’ objectives. Page 4 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ## GOING CONCERN After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## REVIEW OF ACTIVITIES During the year to 31 December 2024 the trustees awarded grants totalling £1,713,644 (2023 - £1,898,408) to various individuals and organisations, as detailed in note 5. This represented 279% (2023 - 352%) of the incoming revenue generated from the assets. Grants made are applied to a number of organisations in support of their goals and in line with those of the trustees, to encourage and support the provision of education, understanding and peace. The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising any powers or duties to which the guidance is relevant. ## RESERVES POLICY Money held in reserve by the Trustees is there to meet the ongoing demand for grants awarded on a monthly basis. In addition, the Trustees ensure they have sufficient reserves ahead of the autumn to meet their annual commitment to scholarship funding of approximately £596,000. Further, the Trustees have agreed to continue their strategy to actively invest more of the portfolio in ethical investments. A proportion of the reserves held are to be reinvested in the ethical market. The trust held total funds of £24,776,438 (2023 - £26,043,632) at the end of the reporting period all of which was held in unrestricted reserves. The charitable trust is a grant making charity, the trustees are able to adjust the level of grants made were there to be a drastic change in income or capital returns in a year if appropriate. As such the trustees policy is to make grants as appropriate with no particular requirement to maintain a certain level of reserves. Where there are reserves these will be spent when appropriate grant making opportunities arise. ## INVESTMENT POLICY AND PERFORMANCE The Trust deed authorises the Trustees to make and hold investments as if they were absolute beneficial owners. The Trustees’ holding of Informa Plc shares continues to reduce over time when market conditions allow, providing a rising cash weighting within the investment portfolio and which may be used to fund grants made by the Trust. Continuing advice regarding the investment profile of other investments held as well as a general balance of asset class weightings is provided by Quilter Cheviot Limited Performance of the overall portfolio is monitored over the medium to long term against its target of CPI inflation plus 4% p.a, the CCLA Charities Ethical fund and the ARC Equity Risk charities index. The Trustees are investing on a ‘sustainable and ethical’ basis in line with the ethos of the Trust, where the consideration of ESG factors play an important part in the investment decision making process. The Trustees want their investment managers to proactively look to invest in companies providing solutions to some of the global economic and environmental challenges we face with a particular emphasis on healthy eco systems, human development, resource security and basic needs. The Trustees wish to exclude direct investment in any company, which after reasonable enquiry has significant issues in terms of alcohol, animal welfare, armaments (including controversial weapons), environmental harm (including fossil fuels), gambling, human rights, nuclear, pornography and tobacco. The Trustees accept that some collective investment schemes may have exposure to companies that are involved in these restricted areas. However, the investment manager will monitor the position of these collective investment schemes to ensure this is kept to a minimum. Page 5 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 During this year the portfolio and investment management was undertaken by Quilter Cheviot. Excluding the holding in Informa Plc, the portfolio delivered a capital return of -0.4% against the ARC Equity Risk charities index of 9.3% The trustees are conscious that investment markets have seen increasing volatility since the end of the reporting period as a result of heightened geopolitical tensions and new barriers to US trade. In particular, the performance of certain ethical investments has weakened over the last year as a result of differing environmental priorities in changing political landscapes. The trustees receive ongoing advice from Quilter Cheviot concerning market conditions and continue to take the longer term view of a prudent, ethical investor. ## FUNDRAISING All of the Charity's income is derived from its investment portfolio and no fundraising activities take place. ## MATERIAL INVESTMENTS POLICY Funds under the control of the Trustees have been invested in a broker-managed portfolio. The initial assets of the trust were shares in Taylor & Francis Limited and a proportion of investment remains in that company, which has since floated on the London Stock Exchange and has subsequently been merged to form Informa Plc. The Trustees will continue to diversify the portfolio as the opportunity arises. ## FUTURE DEVELOPMENTS The trustees will continue to make grants, in line with the constitution and policies of the trust, to suitable causes or projects until they have invested all of the funds at their disposal. ## TRUSTEE’S RESPONSIBILITIES STATEMENT 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 & 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 period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principals in the Charities SORP 2019; - Make judgments and accounting estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and 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 provision 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. This report was approved by the Trustees and signed on their behalf by: L P Glaister Trustee Page 6 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## Opinion We have audited the financial statements of The Allan and Nesta Ferguson Charitable Trust (the 'charity') for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 7 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST (CONTINUED) ## Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## Responsibilities of trustees As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## Auditors' responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Enquiry of management regarding laws and regulations applicable to the charity, actual and potential litigation and claims, and any known instances of non-compliance; - Review of minutes of Trustee meetings; - Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness; and - Assessing management bias in relation to the accounting policies adopted and in determining significant accounting estimates including the valuation of investments Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. Page 8 ## THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST (CONTINUED) A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. ## Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. Price Bailey LLP Chartered Accountants Statutory Auditors Causeway House 1 Dane Street Bishop's Stortford Hertfordshire CM23 3BT ## Date: 23 October 2025 Price Bailey is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Page 9 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 |Note
Income from:
Donations and legacies
2
Investments
3
Total income
Expenditure on:
Raising funds - investment management fees
4
Charitable activities
5
Total expenditure
Net expenditure before net gains on investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward|Unrestricted
funds
2024
£
-
613,947
613,947
62,297
1,963,660
2,025,957
(1,412,010)
155,324
(1,256,686)
26,043,632
(1,256,686)
24,786,946|Total
funds
2024
£
-
613,947
613,947
62,297
1,963,660
2,025,957
(1,412,010)
155,324
(1,256,686)
26,043,632
(1,256,686)
24,786,946|Total
funds
2023
£
6,500
539,239
545,739
125,605
2,046,288
2,171,893
(1,626,154)
2,434,342
808,188
25,235,444
808,188
26,043,632| |---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 24 form part of these financial statements. Page 10 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## BALANCE SHEET AS AT 31 DECEMBER 2024 |2024
Note
£
Fixed assets
Investments
9
25,201,165
Current assets
Debtors
10
1,228
68,536
Cash at bank and in hand
14
812,388
86,446
813,616
154,982
Creditors: amounts falling due within one
year
11
(798,122)
(637,141)
Net current assets / liabilites
15,494
Total assets less current liabilities
25,216,659
Creditors: amounts falling due after more
than one year
12
(429,713)
Total net assets
24,786,946
Charity funds
Unrestricted funds
24,786,946
Total funds
24,786,946
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_________________________________________________and signed on their behalf by:
23 Oct 2025|2023
£
26,971,671
(482,159)
26,489,512
(445,880)
26,043,632
26,043,632
26,043,632
Trustees
on| |---|---| ## LPC Glaister Letty Glaister (Oct 23, 2025, 12:56pm) ## L P Glaister The notes on pages 13 to 24 form part of these financial statements. Page 11 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 |Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from sale of investments
Purchase of investments
Net cash provided by investing activities
Cash flows from financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 13 to 24 form part of these financial statements|2024
£
99,883
613,947
19,882,418
(19,870,306)
626,059
725,942
86,446
812,388|2023
£
(2,229,576)
539,239
9,702,959
(8,358,717)
1,883,481
(346,095)
432,541
86,446| |---|---|---| Page 12 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31 DECEMBER 2024 ## 1. Accounting policies ## 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Allan and Nesta Ferguson Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The functional and presentational currency is Pounds Sterling (£). ## 1.2 Going concern The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. As such, they continue to adopt the going concern basis of accounts in the financial statements, which assumes the charity will continue in operational existence for the foreseeable future. The Trustees have given due consideration to the working capital and cash flow requirements of the charity for at least 12 months from the date of signature of the accounts. ## 1.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## 1.4 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. Support and governance costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Costs of raising funds are investment management fee costs incurred in generating income from investments. Charitable activities and Governance costs are costs incurred on the charity's overseas and educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 13 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 1. Accounting policies (continued) ## 1.5 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received 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 extent that such income or gains are applied exclusively to charitable purposes. ## 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. ## 1.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## 1.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## 1.10 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their fair value. Investments are recorded at the bid value at the year-end date and all other assets and liabilities are recorded at cost which is their fair value. For details of the unrealised gains see note 9. ## 1.11 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Page 14 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |2.
Income from donations and legacies
Donations
Total 2023
3.
Investment income
UK listed investments
Foreign listed investments
Total 2023
4.
Raising funds - investment management costs
Investment management fees
Total 2023|Unrestricted
funds
2024
£
-
6,500
Unrestricted
funds
2024
£
355,881
258,066
613,947
539,239
Unrestricted
funds
2024
£
62,297
125,605|Total
funds
2024
£
-
6,500
Total
funds
2024
£
355,881
258,066
613,947
539,239
Total
funds
2024
£
62,297
125,605|Total
funds
2023
£
6,500| |---|---|---|---| ||||Total
funds
2023
£
394,950
144,289
539,239| ||||Total
funds
2023
£
125,605| ||||| Page 15 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 5. Charitable activities |Grants made:
Educational projects
Educational projects encompassing world peace
Overseas education|Institutional
grants
£
433,147
32,000
1,369,603
1,834,750|Support
costs
£
30,433
2,248
96,229
128,910|Total
2024
£
463,580
34,248
1,465,832
1,963,660| |---|---|---|---| During the year there was one grant made to an institution to distribute to individuals (2023 - no grants made to individuals). ## Charitable activities (comparative) |Educational projects
Educational projects encompassing world peace
Overseas education|Institutional
grants
2023
£
708,287
175,500
1,014,621
1,898,408|Support
costs
2023
£
74,731
12,926
60,223
147,880|Total
funds
2023
£
783,018
188,426
1,074,844
2,046,288| |---|---|---|---| Page 16 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## Grants to institutions |Educational bodies
Aston University
Become Charity
Bournemouth Symphony Orchestra
Coventry University
Good Chance
Listening Books
Manchester Metropolitan University
Sheffield University
Sudden Productions
University of East Anglia
University of London
Emmaus UK
Glasgow School of Art
Oxford Faculty of Law
Project Trust
SOAS
Sport 4 Life UK
The Old Vic Theatre Trust
University of Leeds
Other
Educational projects encompassing the promotion of world peace
Central England and Quaker Charities
Conciliation Resources
Peace Brigades International UK
Plan for Peace
Prisoners of Conscience Appeal Fund
Reboot the Future
Saferworld
Other|2024
£
150,000
20,000
7,000
(91,521)
10,000
15,000
149,625
150,000
5,000
34,140
(16,097)
-
-
-
-
-
-
-
-
-
433,147
2024
£
7,000
25,000
-
-
-
-
-
-
32,000|2023
£
-
-
-
-
-
-
-
-
-
-
-
20,000
48,000
103,908
120,000
120,000
15,000
30,000
169,389
81,990
708,287| |---|---|---| |||2023
£
-
-
20,000
15,000
18,000
15,000
100,000
7,500
175,500| Page 17 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ||2024|2023| |---|---|---| ||£|£| |Overseas Education||| |Able Child Africa|30,000|-| |Addenbrokes Charitable Trust|10,000|-| |African Adventures Foundation|5,000|-| |Arise Foundation|13,000|-| |Bees for Development|10,000|-| |Camera Education UK|27,000|-| |Casa Reom Trust|15,000|-| |CHASE Africa|15,000|-| |Child in Need India|15,000|-| |Children Change Colombia|10,000|-| |Child's Foundation|8,000|-| |Classrooms for Malawi|20,000|-| |CodeBrave Foundation|20,000|-| |Consortium for Street Children|20,000|-| |Deki Ltd|21,000|-| |East Africa Character Development Trust|25,000|-| |Dream Big Ghana Foundation|8,000|-| |Eco Brix UK|18,500|-| |EduSpots|10,000|-| |Exeter Ethiopia Link|5,000|-| |Frank Water|9,367|-| |Freedom Kit Bags|10,000|-| |Friends of Kipkelion Charitable Trust|15,000|-| |Friends of Monze|4,000|-| |Friends of the Holy Land|22,500|-| |Galapagos Conservation Trust|10,000|-| |Gambia School Support|7,500|-| |Global Care International|12,500|-| |Helping Uganda Schools (HUGS)|7,700|-| |Homes of Promise|5,000|-| |International Needs UK|25,000|-| |Jangala Limited|15,000|-| |Just Small Change|3,060|-| |Kanaama|9,970|-| |Kenya Children Centres|6,500|-| |Kizazi|20,000|-| |Let's Educate Them|6,000|-| |Livingstone Tanzania Trust|22,931|-| |Makhad Trust|15,000|-| |Mechanics for Africa|9,380|-| |Mines Advisory Group|30,000|-| |Mondo Foundation|10,000|-| Page 18 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |Mosaic Middle East|20,000|-| |---|---|---| |Network for a Better World|6,000|-| |New Ways|5,000|-| |Our Sansar|15,000|-| |Oxfam|50,000|-| |Pakistan Alliance for Girls Education|20,000|-| |Pragya UK|12,000|-| |Prodigal Bikes|5,000|-| |Promoting Equality in African Schools (PEAS)|25,000|-| |Purple Community Fund|15,000|-| |RAISE Gambia|2,615|-| |RedEarth Village Schools Uganda|3,800|-| |S.A.F.E Arts for Education|10,000|-| |Sabre Education Limited|25,000|-| |Safe Child Thailand|12,000|-| |Save the Children|70,000|-| |Sense International|25,000|-| |Shared Interest Foundation|20,000|-| |SOS Children's Villages UK|30,000|-| |Starfish Asia|20,000|-| |Team Kenya CIO|15,000|-| |Tearfund|30,000|-| |Tehila Trust|8,000|-| |Temwa|14,042|-| |The Lorna Young Foundation|7,000|-| |The Book Bus Foundation|25,000|-| |The Busoga Trust|15,000|-| |The Mango Tree Orphan Support Programme|25,000|-| |Tools for Self Reliance|13,000|-| |Village Water Limited|20,000|-| |War Child UK|15,000|-| |War on Want|30,000|-| |WaterAid|75,000|-| |WaterHarvest|20,000|-| |Wild Impact|8,000|-| |WONDER Foundation|15,000|-| |Workaid|20,000|-| |World Bicycle Relief UK|10,000|-| |World Jewish Relief|20,000|-| |World Medical Fund for Children|5,000|-| |World of Worth|6,508|-| |Acet UK|-|20,000| |Action Aid|(270)|22,850| |Amantani UK|-|20,000| |Book Aid International|-|25,000| Page 19 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |British Red Cross
CAMFED
Children on the Edge
Habitat for Humanity
Hand in Hand International
Harpenden Spotlight on Africa
Hope and Homes for Children
Humanity and Inclusion UK (Handicap International)
Integrity Action
Just a Drop
Kidasha
Kyaninga CDC Trust
MicroLoan Foundation
Money for Madagascar
Power for the People
Raising Futures Kenya
Re-Cycle Bikes to Africa
RedR UK
Right to Play UK
RNLI - Royal National Lifeboat Institution
Room to Read UK Limited
Schoolreaders
Solar Aid
STEP (UK) Ltd
Teach a Man to Fish
The Womanity Foundation
Transform Trade
United World Schools
Water Witness International
Other grants|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,369,603|40,000
50,000
15,000
25,000
28,250
25,000
15,000
25,000
25,000
19,778
15,000
20,000
25,000
20,000
15,000
20,000
17,748
15,000
15,000
20,000
15,000
15,000
20,000
20,000
25,000
20,000
100,000
20,000
20,000
220,995
1,014,621| |---|---|---| Page 20 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 6. Support costs |Legal and administration charges
Website development
Auditors fees for audit services
Currency adjustments
Safeguarding Training
Other charges
Total 2023
Support costs (comparative)
Legal and administration charges
Website development
Auditors fees for audit services
Currency adjustments
Other charges
7.
Auditors' remuneration
Auditors' remuneration|Governance
2024
£
112,817
-
12,960
-
-
-
125,777
145,590|Support
costs
2024
£
-
420
-
2,255
315
143
3,133
2,290
Governance
2023
£
133,710
-
11,880
-
-
145,590|Total
funds
2024
£
112,817
420
12,960
2,255
315
143
128,910
147,880
Support
costs
2023
£
-
300
-
1,846
144
2,290
2024
£
12,960|Total
funds
2023
£
133,710
300
11,880
1,846
-
144
147,880| |---|---|---|---|---| |||||Total
funds
2023
£
133,710
300
11,880
1,846
144
147,880| |||||2023
£
11,880| Page 21 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 8. Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). ## 9. Fixed asset investments |At 1 January 2024
Additions
Disposals
Revaluations
Cash balance
Total 2024|Listed
investments
2024
£
24,983,650
19,870,306
(19,882,418)
155,324
-
25,126,862|Cash
deposits
2024
£
-
-
-
-
74,303
74,303|Total
funds
2024
£
24,983,650
19,870,306
(19,882,418)
155,324
74,303
25,201,165|Total
funds
2023
£
23,893,550
8,358,717
(9,702,959)
2,434,342
1,988,021
26,971,671| |---|---|---|---|---| The market value of investments individually constituting more than 5% of the total portfolio are as follows: |follows:||||| |---|---|---|---|---| ||31|December|31|December| |||2024||2023| |Informa plc||7,584,800||7,421,400| This shareholding represents 0.1% (2023 - 0.1%) of the company's issued ordinary share capital. The trustees wish to diversify the funds invested in Informa Plc and will do so when practical opportunities arise. ## 10. Debtors |Due within one year
Other debtors
11.
Creditors: Amounts falling due within one year
Accruals
Grants accrued - institutional|2024
£
1,228
2024
£
56,180
741,942|2023
£
68,536| |---|---|---| |||2023
£
40,763
596,378| Page 22 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |11.
Creditors: Amounts falling due within one year (continued)
2024
£
798,122
12.
Creditors: Amounts falling due after more than one year
2024
£
Accrued grants payable to institutions (less than 5 years)
429,713
13.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
£
Net income/expenditure for the period (as per Statement of Financial
Activities)
(1,256,686)
Adjustments for:
(Gains)/losses on investments
(155,324)
Dividends received
(613,947)
(Increase)/decrease in cash investments
1,913,718
(Increase)/decrease in debtors
67,308
Increase/(decrease) in creditors
144,814
Net cash provided by/(used in) operating activities
99,883
14.
Analysis of cash and cash equivalents
2024
£
Cash in hand
362,388|2023
£
637,141
2023
£
445,880
2023
£
808,188
(2,434,342)
(539,239)
(1,129,845)
1,168,745
(103,083)
(2,229,576)
2023
£
86,446| |---|---| Page 23 THE ALLAN AND NESTA FERGUSON CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 15. Analysis of changes in net debt ||||||At 31| |---|---|---|---|---|---| ||At|1|January||December| ||||2024|Cash flows|2024| ||||£|£|£| |Cash at bank and in hand|||86,446|725,942|812,388| ## 16. Related party transactions During the year the Trust received no donations (2023 - £6,500) from the Idwen Banister Will Trust which was a Trust of a close relative connected to D Banister. At the year end a balance of £nil (2023 - £6,500) was owed to the Trust in relation to this transaction. Apart from the above there were no other related party transactions during the year. Page 24