## **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|
1
## **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||
2
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
3
|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
4
|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**
5
## 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**
6
## **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
7
|**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)
8
|**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)
9
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. 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