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2025-04-05-accounts
| CONTENTS |
PAGES |
| TRUSTEESANDADVISERS |
2 |
| TRUSTEES'REPORT |
3-5 |
| INDEPENDENTEXAMINER'SREPORT |
,'~ |
| STATEMENTOFFINANCIALACTIVITIES |
7 |
| BALANCESHEET |
8 |
| NOTES |
9-13 |
| TRUSTEES |
ViceAdmiralSirTimLaurenceGCVOCB |
|
SallyJTennantOBE |
|
ChristopherDRMorgan |
|
JulianAVSmithCVO |
| CHARITYADDRESS |
Farrer&CoLLP |
|
66Lincoln'sInnFields |
|
London |
|
WC2A3LH |
| CHARITYREGISTRATIONNUMBER |
277814 |
| SOLICITORS |
Farrer&CoLLP |
|
66Lincoln'sInnFields |
|
London |
|
WC2A3LH |
| AUDITOR |
CroweU.K.LLP |
|
CharteredAccountants |
|
BlackCountry_House |
|
RoundsGreenRoad |
|
Oldbury |
|
WestMidlands |
|
B692DG |
| INVESTMENTMANAGERS |
Sarasin&PartnersLLP |
|
JuxonHouse |
|
100St.Paul'sChurchyard |
|
London |
|
EC4M8BU |
BANKERS |
Coutts&Co |
|
440Strand |
|
London |
|
WC2R0QS |
11 November 2025
|
Notes |
2025 |
2024 |
|
|
£ |
£ |
| Incomefrom: |
|
|
|
| Donations |
|
4,000 |
8,500 |
| Investments |
2 |
233,402 |
233,801 |
| Total |
|
237,402 |
242,301 |
| Expenditureon: |
|
|
|
| Raisingfunds |
|
|
|
| Investmentmanagementfees |
3 |
(46,725) |
(43,077) |
| Charitableactivities |
|
|
|
| Grantexpenditure |
4/5 |
(227,772) |
(237,128) |
| Total |
|
(274,497) |
(280,205) |
| Net(expenditure)before gainsoninvestments |
|
(37,095) |
(37,904) |
| Netgains/(losses)oninvestments |
6 |
(96,959) |
568,303 |
| Netincome/(expenditure)andmovementinfunds |
|
(134,054) |
530,399 |
| Reconciliationoffunds: |
|
|
|
| Totalfundsbroughtforward |
|
8,326,868 |
7,796,469 |
| Totalfundscarriedforward |
|
8,192,814 |
8,326,868 |
| INVESTMENTINCOME |
|
|
|
2025 |
2024 |
|
£ |
£ |
| Incomefrominvestments |
228,468 |
227,874 |
| Interestondepositandaccountsheldbyinvestment |
4,934 |
5,927 |
| managers |
|
|
|
233,402 |
233,801 |
| INVESTMENTMANAGER'SFEES |
|
|
|
2025 |
2024 |
|
£ |
£ |
| TotalfeespayabletoSarasin |
46,725 |
43,077 |
| Less:deducteddirectlyfromholdingswithinportfolio |
(64,498) |
(58,115) |
| NetfeesrefundedbySarasin |
{17,773) |
(15,038) |
madetocharitieswithinthefollowingclassificat |
ions: |
|
|
2025 |
2024 |
|
£ |
£ |
| ChildrenandYouth(5) |
50,000 |
34,000 |
| EnvironmentandWildlife(1) |
4,000 |
4,000 |
| Medical(9) |
40,000 |
29,500 |
| SocialWelfare(14) |
72,000 |
115,000 |
| ArmedForces(6) |
24,000 |
28,400 |
| Other(3) |
16,000 |
- |
|
206,000 |
210,900 |
| GOVERNANCECOSTS |
|
|
|
2025 |
2024 |
|
£ |
£ |
| Legalfees |
15,172 |
15,188 |
| Independentexamination(2024Audit)andaccountancy |
6,600 |
11,040 |
fees |
|
|
|
21,772 |
26,228 |
| INVESTMENTS |
|
|
|
|
|
Costat |
Market |
Costat |
Marketvalue |
|
|
value |
|
|
|
5April |
At5April |
5April |
At5April |
|
2025 |
2025 |
2024 |
2024 |
|
£ |
£ |
£ |
£ |
| Listedinvestments |
7,069,985 |
7,978,103 |
7,058,322 |
8,131,732 |
| Cashholdings |
12,615 |
12,615 |
3,836 |
3,836 |
| Totalfixedasset |
7,082,600 |
7,990,718 |
7,062,158 |
8,135,568 |
| investments |
|
|
|
|
|
|
|
| Movementininvestments |
2025 |
2024 |
|
£ |
£ |
| Investmentsatmarketvalueatstartofyear |
8,131,732 |
7,610,129 |
| Additions |
7,828 |
11,415 |
| Disposals |
- |
- |
| Investmentmanager'sfeesdeducteddirectlyfromportfolio |
(64,498) |
(58,115) |
| Netgain/(loss)oninvestments |
(96,959) |
568,303 |
| Investmentsatmarketvalueatendofyear |
7,978,103 |
8,131,732 |
| 7. |
CREDITORS |
2025 |
2024 |
|
|
£ |
£ |
|
Grantspayable |
12,000 |
20,000 |
|
Accruals |
26,307 |
18,489 |
|
|
38,307 |
38,489 |