Registered Charity No. 277057 THE GRAHAM-DIXON CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 ||THE GRAHAM-DIXON CHARITABLE TRUST| |---|---| ||LEGAL AND ADMINISTRATIVE INFORMATION| |Trustees:
Dr Francis Graham-Dixon (Chairman)|| |
Professor Sir Ravinder Maini FRS FMedSci|| ||Dr Harri Jenkins| |Registered Charity
No. 277057|| |Bankers:
Lloyds TSB Bank plc|| ||25 Gresham Street| ||London EC2V 7HN| |Independent Examiner:
Richard F Viner|| |Investment Managers:
Brewin Dolphin Ltd|| ||5thFloor, Atria One| ||144 Morrison Street| ||Edinburgh EH3 8EX| ## **The GRAHAM-DIXON CHARITABLE TRUST** ## **CONTENTS** ||Page| |---|---| |Trustees' Report
1|| |Independent Examiner’s Report
|
3| |Statement of Financial Activities
4|| |Statement of Financial Position
5|| Page 1 ## **THE GRAHAM-DIXON CHARITABLE TRUST** ## **TRUSTEES’ REPORT** ## **Grant-making Policy** The Trust's policy is to make one major grant annually, of up to £200,000 a year for the next five years, in order to further the Trust's aim of supporting Cardiovascular Medicine and Surgery at Imperial College Healthcare NHS Trust and Imperial College of Science, Technology and Medicine, and the award of prizes related to these activities. The grant is aimed at supporting novel and cutting-edge projects addressing clinical research challenges, with the clear potential to deliver significant translational impact. With this clear objective _The Graham-Dixon Excellence Award in Translational Cardiovascular Clinical Research_ was launched by Imperial in early 2025, with the decision on the chosen recipients of the inaugural Award approved by Trustees in June 2025. ## **Reserves** The Trust’s reserves are held for the purposes of promoting and assisting education and research in Cardiovascular Medicine and Surgery, as suitable projects are identified. The Trustees' policy is to retain free reserves which are at least sufficient to cover one year’s total expenditure excluding grants and fundraising costs, which equates to approximately £12,000. The remaining free reserves amounted to £873,188 at the balance sheet date. ## **Future Plans** The Charity plans to make its second annual _Excellence Award_ in the Spring of 2026, and annually thereafter, until the remaining capital has been drawn down, after which the Trustees will resolve to wind up the Charity. ## **Trustees** Dr Francis Graham-Dixon Professor Sir Ravinder Maini Dr Harri Jenkins ## **Trustees’ Responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; Page 2 - make judgments and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material - departures disclosed and explained in the financial statements: - prepare the financial statements on the going concern basis unless it is inappropriate to - presume that the charity will continue to operate. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 13th April 2026 Trustee: Dr Francis Graham-Dixon Page 3 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GRAHAM-DIXON CHARITABLE TRUST** I report on the accounts of the Trust for the year ended 30 September 2025 which are set out on pages 4 and 5. ## RESPECTIVE RESPONSIBILITIES OR TRUSTEES AND EXAMINER The charity’s Trustees are responsible for the preparation of the Accounts. The charity’s Trustees consider that an audit is not required for the year under Section 144(2) of the Charities Act 2011 (‘the 2011 Act’) and that an independent examination is needed. It is my responsibility to: - examine the Accounts under Section 145 of the 2011 Act; - follow the procedures laid down in the general directions given by the Charity Commission - under Section 145(5) of the 2011 Act; - state whether particular matters have come to my attention. ## BASIS OF THE INDEPENDENT EXAMINER’S REPORT My examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes a review of accounting records kept by the charity 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 explanation from the Trustees concerning 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 next statement. In connection with my examination, no matter has come to my attention: 1) Which gives me reasonable cause to believe that in any material respects the requirements: - to keep accounting records in accordance with Section 130 of the 2011 Act, and - to prepare Accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached. Richard Viner FCA South Kensington, London SW7 2AZ Page 4 ## **The GRAHAM-DIXON CHARITABLE TRUST** ## **Statement of Financial Activities** ## **For the Year Ended 30 September 2025** |**2025**
**2024**|**2025**
**2024**|**2025**
**2024**|**2025**
**2024**| |---|---|---|---| |
**Unrestricted**
**Unrestricted**|||| |
**Funds**
**Funds**|||| |
£
£|||| |**Income **
|||| |Investment Income
24,830
23,283|||| |Interest

577
1,164|||| |Total Income
25,407
24,447|||| |**Expenditure**
|||| |Investment Management

9,038
8,767|||| |Legal Expenses|0||7,090| |Office Expenses
2,984
3,125|||| |Grants Awarded:|||| |Translational Cardiovascular Clinical Research|189,109
0||| |Total Expenditure
201,131
19,072|||| |Net (Expenditure)/Income
175,724
5,375|||| |Net gain on Investments
66,120
96,587|||| |**Net movement in funds**
(109,604)
101,962|||| |**Reconciliation of funds:**|||| |Fund balances at 1 October 2024
982,792
880,830|||| |Fund balances at 30 September 2025
873,188
982,792|||| Page 5 ||**The GRAHAM-DIXON CHARITABLE**|**The GRAHAM-DIXON CHARITABLE**|**TRUST**|||| |---|---|---|---|---|---|---| ||**Balance Sheet**|||||| ||**For the Year Ended 30 September 2025**|||||| |**2025**||||**2024**||| |**£**|||
**£**
||**£**|**£**| |**Fixed Assets**||||||| |Investments*
954,218
947,136||||||| |**Current Assets**||||||| |Cash at Bank and in Hand|110,829|||63,246||| |110,829||||63,246||| |**Current Liabilities**
191,859
27,590||||||| |**Net Current (Liabilities)/Assets**

(81,030)
35,656||||||| |**Net Assets**
**873,188 **
**982,792**||||||| |**Total Funds**||||||| |Unrestricted
**873,188**||||||**982,792**| *Cost Price £519,928 **Approved by the Trustees on 13th April 2026 and signed on their behalf by:** ## **Dr Francis Graham-Dixon**