The Mountbaten Memorial Trust Annual report and fnancial statements for the year ended 30th September 2025
Charity no. 278691
## The Mountbaten Memorial Trust
## Contents
||Page|
|---|---|
|Legal and administratve informaton|1|
|Report of the Trustees|2 - 4|
|Independent Examiner’s report|5|
|Statement of fnancial actvites|6|
|Balance sheet|7|
|Notes to the fnancial statements|8 - 12|
The Mountbaten Memorial Trust
Legal and administratve informaton
## Patron
King Charles III
Trustees Ben Moorhead DL The Honourable Michael-John Knatchbull Ashley Hicks The Honourable Philip Knatchbull William Fox Kelly Knatchbull Daisy Knatchbull
Chair of Trustees (resigned 3 July 2025)
Secretary Kathryn Hodges
Principal ofce 69 Holgate Road, York, YO24 4AA
## Independent Examiner
Gilbert Holbourn FCA FCCA DChA, 1 Upper Bridge Street, Wye, Kent, TN25 5AF
## Bankers
Coutts and Co, Villiers Branch, 440 Strand, London, WC2R 0QS
1
## The Mountbaten Memorial Trust
## Report of the trustees for the year ended 30th September 2025
The trustees present their report together with the financial statements of the Charity for the year ended 30th September 2025.
## Objectves and actvites
The Trust was set up to honour the ideals of Admiral of the Fleet, The Earl Mountbatten of Burma. This is done by supporting charitable organisations and causes working to further the humanitarian purposes with which he was associated in his latter years. Chief amongst these are:
- (i) Technological research and application of technology in aid of disabled people throughout the world; and
- (ii) Community Projects - grants are made to aid the young and disadvantaged in various communities throughout Britain. Typical projects include support of youth clubs.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
## Reference and administratve details
The Trust is an unincorporated trust, constituted under a trust deed dated 1 October 1979 and is a registered Charity, number 278691. The address of the Trust can be seen on page 1.
## Structure, governance and management
The trustees who have served during the year and since the year end are set out on page 1. New or additional trustees may be appointed by the Board of trustees at any time. The Trust Deed does not specify a maximum number of trustees but does provide for a minimum of three trustees. The trustees meet annually to review applications, approve grants and review investment performance. The day-to-day administration of the grants and the processing and handling of applications prior to consideration by the trustees is delegated to the Trust Secretary.
The majority of the current members of the Board of trustees are the immediate family of the Late Earl Mountbatten of Burma and are generally long-standing trustees of the Charity. The Trust has also appointed a small number of trustees who are not members of the family, who bring additional skills and strengths to the Board. Induction procedures are in place for any newly appointed trustee and include an information pack comprising a brief history of the Trust, copy Board minutes, the last three years of annual reports and accounts, a copy of the governing trust deed and a copy of the Charity Commission’s guidance “The Essential Trustee: What you need to know”.
## Achievements and performances
An analysis of total resources expended can be found in note 4 to the Financial Statements, which gives a brief summary of how each grant supports the objectives of the Trust.
2
## The Mountbaten Memorial Trust
## Report of the trustees for the year ended 30th September 2025 (contnued)
## Monitoring achievement
Where appropriate organisations are requested to supply feedback on projects which have been supported by the trust.
## Risk Management Policy
The trustees have examined the major strategic, business, investment and operational risks which the Charity faces and in view of the size and nature of the Charity’s activities have concluded there is no significant level of risk to the Charity’s funds, other than that which can be managed by prudent book-keeping and budgetary procedures, professional advice, annual Independent Examination of the accounts and secure operation of the Charity’s banking arrangements. Trustees are satisfied that systems are established to enable regular review so that any necessary steps can be taken to lessen these or any arising risks.
## Grant Policy
All applications falling within the Charity's objectives and criteria, whether received by post or email are put forward to the Grants Sub-committee, which comprises of 3 trustees. The Grants Sub-committee then makes recommendations to the Board at the AGM, based upon those applications which most closely fulfil the Charity's aims and objectives and are responding to the greatest need. The Board makes the final decisions on the allocation of the Charity's funds.
At the current time, the trustees have agreed that grants will only be made to UK-based charities that do not work exclusively overseas. Grants are usually made on a one-year basis and once an award has been made, two clear years must pass before a further award will be considered. Applicant organisations must have income below £1m in their last financial year. The Charity has an FAQ sheet, which is available from the Trust Secretary, which aims to answer most commonly asked questions and outlines the grants process.
## Financial review
The Trust is reliant on the income from its investments, the income from which was £35,048 (2024: £34,996) and from support from other grant making bodies £4,047 (2024: £4,250) or other ad hoc donations.
The trustees are delighted to report the receipt of two generous donations from the Royal Navy and Royal Marines Charity.
Charitable expenditure amounted to £35,847 (2024: £35,760) consisting of grants of £29,311 (2024: £28,000) and support costs of £6,536 (2024: £7,760).
The net deficit for the year was £799 (2024: deficit of £764) before investment gains of £38,755 (2024: £30,855).
## Statement of trustees’ responsibilites for the annual fnancial statements
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), including Financial Reporting Standard 102 (FRS 102).
3
## The Mountbaten Memorial Trust
## Report of the trustees for the year ended 30th September 2025 (contnued)
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 financial statements, the trustees are required to:
## Statement of trustees’ responsibilites for the annual fnancial statements (contnued)
- select suitable accounting policies and then apply them consistently:
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
## Investment policy
The policy of the trustees is to invest in a balanced portfolio to provide sufficient income to meet trustees’ aspirations for grants whilst protecting the capital from the effects of inflation.
In accordance with the Trust’s accounting policies, investments are stated at market value at the balance sheet date. The market value of the Trust’s investment had increased from £678,230 at 30[th] September 2024 to £716,985 at 30[th] September 2025.
## Reserves policy
The trustees’ policy on reserves is that as a general rule expenditure should not significantly exceed income in any year so that fund balances are available to generate investment income. In the year to 30 September 2025 there were net outgoing resources of £799 (2024: outgoing £764), excluding gains on investments.
## Independent Examiner
Gilbert Holbourn continues as Independent Examiner for the year.
## On behalf of the board of trustees
Ben Moorhead Trustee
2[nd] July 2026
4
## The Mountbaten Memorial Trust
## Independent Examiner’s report
I report on the accounts for the year ended 30 September 2025 which are set out on pages 6 to 12.
## Respectve responsibilites of 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 this 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;
- § To follow the procedures laid down in the general Directions given by the Charity Commission under section 146(5)(b) of the 2011 Act; and
- § To state whether particular matters have come to my attention.
## Basis of independent Examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the 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 explanations from you as trustees concerning any 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 statement below.
## Independent Examiner’s 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 respect, the requirements: - to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord to 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.
Gilbert Holbourn FCA FCCA DChA 1 Upper Bridge Street Wye Kent TN25 5AF
Date: 2[nd] July 2026
5
## The Mountbaten Memorial Trust
Statement of fnancial actvites For the year ended 30 September 2025
|Note
Income:
Donatons
Investment income
2
Total income
Expenditure
Charitable actvites
3
Net (defcit)/ income and net movement in
funds before gains on investments
Net unrealised gains on investments
6
Net movement in funds
Total funds brought forward
Total funds carried forward|2025
£
4,047
31,001
35,048
35,847
38,755
37,956
692,486
730,442|2024
£
4,250
30,746|
|---|---|---|
|||34,996|
|||35,760|
|||30,855|
|||30,091
662,395|
|||692,486|
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 8 to 12 form part of these financial statements.
6
## The Mountbaten Memorial Trust
Balance sheet As at 30 September 2025
|Note
Fixed assets
Investments
6
Current assets
Debtors
7
Cash at bank
Liabilites:
Creditors: amounts falling due within one year
8
Net current assets
Net assets
Funds
Unrestricted general funds|2,295
16,807|2025
£
716,985
730,442
730,442|2024
£
678,230
2,407
19,880
22,287
(8,031)
692,486
692,486|2024
£
678,230
2,407
19,880
22,287
(8,031)
692,486
692,486|
|---|---|---|---|---|
||19,102
(5,645)||||
||||||
|||||692,486|
|||||692,486|
These financial statements were approved by the Board of trustees on 2[nd] July 2026 and signed on its behalf by
## Ben Moorhead Trustee
The notes on pages 8 to 12 form part of these financial statements.
7
The Mountbaten Memorial Trust Notes to the fnancial statements For the year ended 30 September 2025
## 1 Accountng policies
## Basis of preparaton
The financial statements have been prepared under the historical cost convention. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice.
The Mountbatten Memorial Trust constitutes a public benefit entity as defined by FRS102.
The accounts are presented in sterling and are rounded to the nearest pound.
## Going Concern
At the time of approving the accounts, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.
## Preparaton of a cash fow statement
The accounts do not include a cash flow statement because the Charity, as a small reporting entity, is exempt from the requirement to prepare such a statement.
## Income
Donations receivable are accounted for as soon as their amount and receipt are certain. In the case of unsolicited donations this is usually only when they are received. All other income is accounted for under the accruals concept.
## Expenditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenses are accounted for on an accruals basis.
Expenditure incurred in connection with the specific objects of the Charity is included under the heading direct charitable expenditure.
Support costs represent expenditure incurred in the general running of the Charity; these costs are fully attributable to charitable activities.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Trust.
The irrecoverable element of VAT is included with the item of expense to which it relates.
8
The Mountbaten Memorial Trust Notes to the fnancial statements For the year ended 30 September 2025
## 1 Accountng policies (contnued)
## Investments and investment income
Fixed asset investments are stated at mid-market value at the balance sheet date. Gains and losses on investments both realised and unrealised are included in the statement of financial activities. All income arising on investments is accounted for on a receivable basis.
## Fund accountng
Funds that may be held by the Trust are either:-
Unrestricted general funds – these are funds which can be used by the Charity in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds – these are funds that can only be used for a particular restricted purpose within the objects of the Charity. Restrictions arise when specified by the donor or when funds have been raised for particular restricted purposes.
## 2 Investment income
|Listed investments – UK
Bank interest
3
Charitable actvites
Grants
Support costs
Secretarial fees
Website costs and Domain name
Independent examinaton
Total charitable actvites|2025
£
30,761
240
31,001
2025
£
29,311
5,309
52
1,175
6,536
35,847|2024
£
30,459
287|
|---|---|---|
|||30,746|
|||2024
£
28,000|
|||5,150
1,510
1,100|
|||7,760|
|||35,760|
During the year, the Charity had no employees (2024: none). Trustees received no remuneration (2024: £nil) and were not reimbursed for any of their expenses (2024: £nil).
9
The Mountbaten Memorial Trust
Notes to the fnancial statements For the year ended 30 September 2025
|4
Analysis of total resources expended
Direct charitable expenditure - Grants
Aldridge Foundaton – Charity No. 1170932
Supports young people from disadvantaged communites to develop
enterprise skills
Atlantc College – Charity No. 525761
Support for scholarships for deserving and disadvantaged children to
atend the Global Leadership Experience
Childhood Eye Cancer Trust CHECT – Charity No. 327493
Provide support to families with children afected by
retnoblastoma
City Escape - Charity No. 1069707
Provide summer enrichment programme for local children over 2
weeks in August, run by volunteers
Demand - Charity No. 1008128
Provide adapted equipment and items to disabled people
Disabled Sailor’s Associaton - Charity No. 1028993
Provide support for disadvantaged sailors and their families and in
partcular support families with children with Down’s Syndrome with a
respite trip
GL11 Community Hub- Charity No. 1130096
Local charity providing volunteer opportunites for all ages, providing hot
meals, mental health support, debt support, counselling etc
Grace House - Charity No. 1100682
Work with disabled children & young people in the NE. Looking for
support for their counselling service
Kingswood Trust - Charity No. 1149688
Provide outdoor nature experience for young people across West Mids.
Support for their Learn & Grow project.
Lindengate - Charity No. 1153868
Provide social therapeutc hortculture opportunites to work in their 6-
acre garden, including those with mental health issues, disabilites, etc
Litle Hiccups - Charity No. 1170147
Support group for families with disabled children, providing actvites, fun
days, etc
Living Paintngs - Charity No. 1049103
Support children and young people with sight loss by providing Touch to
See books
Carried forward|2025
£
-
3,195
2,000
-
-
2,200
1,000
3,000
2,616
4,000
-
1,000
19,011|2024
£
2,000
-
-
2,000
3,000
-
-
-
-
-
2,000
-|
|---|---|---|
|||9,000|
The Mountbaten Memorial Trust
10
Notes to the fnancial statements For the year ended 30 September 2025
|4.
Analysis of total resources expended (contnued)
Direct charitable expenditure – Grants
2025
£|4.
Analysis of total resources expended (contnued)
Direct charitable expenditure – Grants
2025
£|4.
Analysis of total resources expended (contnued)
Direct charitable expenditure – Grants
2025
£||2024
£|
|---|---|---|---|---|
|Brought forward
19,011
Make Them Smile - Charity No. 1150013
-
Support children across the UK who have disabilites and illnesses to improve
quality of life
Overcoming MS – Charity No. 1157579
Global MS support charity
-
Parentng Mental Health – Charity No. 1188036
Provide support for parents with children sufering from mental health issues
-
Sofaproject - Charity No. 287088
2,300
Provide recycled furniture and appliances for low-income families in the local
area, providing opportunites for the rehabilitaton of ofenders
The Athlone Trust CIO - Charity No. 1188225
-
Provide support for families of adopted children with special needs
The Bristol Children’s Help Society - Charity No. 1092921
2,000
Provide an adventure camp, residental centre for school children, youth groups
etc from deprived areas in Bristol, Somerset and South Glos.
The Athlone Trust CIO - Charity No. 1188225
-
Provide support for families of adopted children with special needs
Trailblazers – Charity No. 1074453
4,000
Provide support to help prevent re-ofending among young men across
London and Oxfordshire and Wolverhampton
Welcome Churches - Charity No. 1177344
2,000
Provide a welcome to all refugees in the UK, including training, friendship,
etc – operate natonally
Wellspring Counselling - Charity No. 1042995
-
Young persons and adults therapy re: loss, bereavement, anxiety, etc.
Woodwork to Wellness - Charity No. 1170218
Creatve opportunites for disadvantaged local people
-
Young & Free – Charity No. 1117939
Provide support and actvites for people with physical and/or sensory
disabilites aged 16-25 in Bristol
29,311
5.
Reconciliaton of grants payable
2025
£
Grants unpaid at 1 October 2024
5,000
Grants made in year
29,311
Grants paid in year
(31,116)
Grants unpaid at 30 September 2025
3,195|||9,000
3,000
2,000
2,000
-
2,000
-
2,000
-
-
2,400
4,600
3,000
28,000
2024
£
-
28,000
(23,000)
5,000||
|||29,311|||
|||2025
£
5,000
29,311
(31,116)
3,195|||
||||||
1 1
The Mountbaten Memorial Trust
Notes to the fnancial statements For the year ended 30 September 2025
|6.
Fixed assets investments
Market value at 1 October 2024
Movement in unrealised gain
Market value at 30 September 2025
Listed investments at market value comprise:
30,000 M&G Securites Limited Charifund Income units
67,500 Rufer Total Return Fund
7.
Debtors
Accrued income
8.
Creditors: amounts falling due within one year
Provision for charitable commitments (see note 5)
Accruals|2025
£
678,230
38,755
716,985
486,675
230,310
716,985
2025
£
2,295
2025
£
3,195
2,450
5,645||2024
£
647,375
30,855|
|---|---|---|---|
||||678,230|
||||455,622
222,608|
||||678,230|
||||2024
£
2,407|
||||2024
£
5,000
3,031|
||||8,031|
12