Trustees’ Annual Report for the period
From 06 April 2024 To 05 April 2025
Charity name: The Coutts Staff Benevolent Trust incorporating The Coulthurst Fund (linked charity)
Charity registration number: 279812
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the charity are to pay or apply or cause to be paid or applied at such time or times and in such manner as the trustees shall in the discretion think fit the income and if and in so far as the trustees shall think fit the capital of the trust fund in or towards: (a) The relief of any person who at any time is or has been employed by the bank and who is poor (b) The relief of any poor spouse former spouse widow widower child orphan relative or dependant if any person who at any time is or has been employed by the bank (c) Such charitable bodies or for such other purposes as shall be exclusively charitable as the trustees shall from time to time decide. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
In furtherance of the charity’s objects for the public benefit the trustee provides grants. In determining the charity’s activities, the trustees have had regard to the Charity Commission’s guidance on public benefit. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | In determining the charity’s activities, the trustee has had regard to the Charity Commission’s guidance on public benefit |
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Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | During the year under review the charities made 3 grants to individuals totalling £8,457 as disclosed below: Recipients: Grants to individuals (Coutts) Four grants £8,457 Grants to individuals (Coulthurst) No grants £Nil |
| Additional information (optional) You may choose to include further statements |
where relevant about: | |
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 |
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Investment performance Para 1.41 against objectives Other
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | In addition to the free reserves the charity has bank balances of £7,125 (2024: £30,243) and investment assets of £910,831 (2024: £952,082) within the expendable endowment fund. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks. |
| Amount of reserves held | Para 1.22 | At the end of the reporting period the charity had free reserves amounting to £120,023 (2024: £106,189). |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | No funds in deficit |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including Para 1.47 any fundraising) Investment policy and objectives including any Para 1.46 social investment policy adopted
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| A description of the principal risks facing the charity |
Para 1.46 | |
|---|---|---|
| Other | Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives. Unrestricted income funds 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 otherpurposes. |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Trust deed dated 20 March 1980 |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trust |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees are appointed by the trustees. |
Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures Para 1.51 adopted for the induction and training of trustees The charity’s organisational Para 1.51 structure and any wider network with which the charity works
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| Relationship with any related parties |
Para 1.51 | No trustee received any remuneration nor reimbursed any expenses in the year under review. During the year under review TLT LLP, the trustee of the charity, were paid fees for the provision of administrative services amounting to £4,580. These fees are authorised under clause 11 of the trust deed. |
|---|---|---|
| Other |
Reference and Administrative details
| Charity name | The Coutts Staff Benevolent Trust incorporating The Coulthurst Fund (linked charity) |
|---|---|
| Other name the charity uses | |
| Registered charity number | 279812 |
| Charity’s principal address | One Redcliff Street Bristol BS1 6TP |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| TLT LLP | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
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Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity |
N/A |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Investment Managers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Bankers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Solicitors | TLT LLP | One Redcliffe Street, Bristol, BS1 6TP |
| Independent Examiner | James O’Rourke | Blue Spire Limited, Cawley Priory, South Pallant, Chichester, PO19 1SY |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
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Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Deborah Gale Position (eg Secretary, On behalf of TLT LLP Chair, etc) (Trustee) Date 05 February 2026
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| Charity Name | No (if any) | ||||
|---|---|---|---|---|---|
| The Coutts Staff Benevolent Trust incorporating The Coulthurst Fund (linked charity) | 279812 | ||||
| Receipts andpayments accounts | CC16a | ||||
| Period start date | Period end date | ||||
| For the period from | 06 April 2024 | To To |
05 April 2025 |
| Section A Receipts and payments | Section A Receipts and payments | |||||||
|---|---|---|---|---|---|---|---|---|
| A1 Receipts | The Coutts Staff Benevolent Trust Unrestricted funds to the nearest £ |
The Coulthurst Fund Unrestricted funds to the nearest £ 2,391 147 - - - - - - |
Restricted funds to the nearest £ |
The Coutts Staff Benevolent Trust Endowment funds to the nearest £ |
The Coulthurst Fund Endowment funds to the nearest £ |
Total funds to the nearest £ |
Last year to the nearest £ |
|
| Investment income | 20,966 | 2,391 | - - - - - - - - |
- | - | 23,357 1,117 659 - - - - - |
21,358 | |
| Income from bank interest | 970 | 147 | - | - | 687 | |||
| Donations | 659 | - | - | - | 640 | |||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| Sub total(Gross income for AR) |
22,595 |
2,538 | - | - | - | 25,133 | 22,685 | |
| - - |
||||||||
| A2 Asset and investment sales, (see table). |
||||||||
| Sale of investments | - | - | - - |
612,915 | 61,904 | 674,819 - |
692,239 | |
| - | - | - | - | - | ||||
| Sub total | - | - | - | 612,915 | 61,904 | 674,819 | 692,239 | |
| Total receipts A3 Payments |
||||||||
| 22,595 | 2,538 | - | 612,915 | 61,904 | 699,952 | 714,924 | ||
| - - 1,425 412 242 - - - - |
||||||||
| Grants awarded | 8,457 | - | - - - - - - - - - |
- | - | 8,457 4,580 2,445 4,358 482 - - - - |
3,445 | |
| Inv mgmt and admin | - | - | 4,106 | 474 | 4,181 | |||
| Independent examination | 1,020 | 1,425 | - | - | 405 | |||
| Administrative services - TLT | 3,946 | 412 | - | - | 9,690 | |||
| Bank charges | 240 | 242 | - | - | 962 | |||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| - | - | - | - | - | ||||
| **Sub total ** | 13,663 | 2,079 | - | 4,106 | 474 | 20,322 | 18,683 | |
| - - |
- - |
688,914 - |
||||||
| A4 Asset and investment purchases, (see table) |
||||||||
| Investmentpurchases | - | - | 629,965 | 58,949 | 655,302 | |||
| - | - | - | - | |||||
| **Sub total ** | - | - | - | 629,965 | 58,949 | 688,914 | 655,302 | |
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end ** |
||||||||
| 13,663 | 2,079 | - | 634,071 | 59,423 | 709,236 | 673,985 | ||
| 8,932 | 459 | - | **(21,156) ** | 2,481 | (9,284) | 40,939 | ||
| **(506) ** | 4,949 | - | 506 | (4,949) | - 136,432 |
- | ||
| 100,803 | 5,386 | 27,131 | 3,112 | 95,493 | ||||
| 109,229 | 10,794 | - | 6,481 | 644 | 127,148 | 136,432 |
CCXX R8 accounts (SS)
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| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Endowment funds to nearest £ 6,481 - - - 843 - - - 7,324 Agreement Error Endowment funds to nearest £ - - - - - - Current value (optional) 826,684 84,147 - - - Current value (optional) - - - - - When due (optional) Date of approval 05 February 2026 |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds |
Signature Details Details Details Investments (Coutts) Investments (Coulthurst) Details (agree balances with receipts and payments account(s)) Capital account (Coutts) Income account (Coulthurst) TLT Accounts (Coulthurst) Total cash funds Income account (Coutts) Current account (Coutts) Capital account (Coulthurst) TLT Accounts (Coutts) Current account (Coulthurst) |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - 41,285 - 67,645 - 299 - - - 949 - 5,959 - 3,886 - 120,023 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - Endowment - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Deborah Gale On behalf of TLT LLP (Trustee) |
|
| Deborah Gale On behalf of TLT LLP (Trustee) |
05 February |
CCXX R9 accounts (SS)
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Independent Examiner's Report to the Trustee of The Coutts Staff Benevolent Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 05 April 2025
Responsibilities and basis of report
As the charity’s trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James O’Rourke FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Date
05 February 2026