Willie and Mabel Morris Charitable Trust
Charity Number - 280554
Trust Accounts for the year ended 05 April 2025
Prepared by:Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD
Willie and Mabel Morris Charitable Trust
Trust Accounts for the year ended 05 April 2025
| Contents | Page |
|---|---|
| Trustees' Annual Report | 1 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes | 8 - 13 |
Willie and Mabel Morris Charitable Trust
Trustees' Annual Report for the year ended 05 April 2025
Administrative Information at 05 April 2025 Settlors William Henry Albert Morris Mabel Annie Victoria Morris Trustees Andrew Stephen Lindsay Tether (died 27 August 2024) Suzanne Jane Marriott Angela Michele Tether Alan Michael Bryant (retired 21 May 2024) Verity Anne Lindsay Tether Phoebe Susan Lindsay Tether Josh Lloyd Turner (appointed 19 August 2025)
The power of appointing new trustees was vested in the Settlors (by virtue of Clause 11 of the settlement deed) during their respective lifetimes and, following their deaths, the statutory powers of appointing new trustees apply.
As a small grant making trust, there are no formal procedures for the recruitment, appointment, induction and training of new trustees.
| Registered Charity No. | 280554 |
|---|---|
| Registered Address | Charles Russell Speechlys LLP |
| 5 Fleet Place | |
| London | |
| EC4M 7RD | |
| Administrators and Legal Advisers | Charles Russell Speechlys LLP |
| 5 Fleet Place | |
| London | |
| EC4M 7RD | |
| Investment Advisers and Managers | J M Finn & Co |
| 4 Coleman Street | |
| London | |
| EC2R 5TA | |
| Bankers | Coutts & Co |
| 440 Strand | |
| London | |
| Independent Examiner | Ms Tarwa Mohammed BA, FCA |
| Couch Bright King & Co | |
| 2 Tolherst Court | |
| Turkey Mill Business Park | |
| Ashford Road, Maidstone | |
| Kent, ME14 5SF |
1
Willie and Mabel Morris Charitable Trust
Trustees' Annual Report for the year ended 05 April 2025
Organisation and Decision-Making Structure
The Trustees meet annually to review applications for funding, investment performance, income levels and the financial statements. In between Trustee Meetings, applications are also considered by the Trustees and donations made as appropriate.
History and Objects
The W & M Morris Charitable Trust was created by Deed dated 3 June 1980 with an initial sum settled of £1,000 cash. Further funds were added by a Deed of Assignment of Reversionary Interest under the will of J H Ahern Deceased dated 3 June 1980 whereby W H A Morris (the Joint Settlor) assigned his reversionary interest in the residuary estate of the late J H Ahern (excluding the Retained Fund as defined therein) to the Trustees to be held on the trusts of the W & M Morris Charitable Trust (together "the Trust Fund").
The Trustees hold the Trust Fund upon trust to apply the same (without distinction between capital and income except in so far as conditions may have been attached to any donation or addition to the Trust Fund) for:-
(a) such charities registered under Section 4 of the Charities Act 1960.
(b) the support of any charity whose main purpose is the relief of physical ill health in particular cancer, heart trouble, neurological diseases and arthritis.
The Accounts
The Trustees are satisfied with the financial position of the Charity and confirm that they have adequate assets available to fulfil their obligations.
-
All cash is held on interest bearing bank accounts, except the Trustees' current account at Coutts & Co. The Trustees have opened a new account with the Charities Aid Foundation (CAF) and intend to close the Coutts & Co account.
-
The accounts comply with current statutory requirements.
-
Investments have been acquired in accordance with powers contained within the governing document (as extended by an order of the Charity Commissioners under the Charities Act 1993 Section 26 dated 31 October 1995 whereby the Trustees were empowered to delegate their investment powers to a suitable investment manager).
Reserves Policy
The policy of the Trustees (which is to be reviewed annually) is to fully distribute all income received by the Charity, taking one year with another, so that no substantial reserve will be formed out of income.
Exposure to risk
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems are in place to mitigate their exposure to risk.
2
Willie and Mabel Morris Charitable Trust
Trustees' Annual Report for the year ended 05 April 2025
Review of the Year
During the year under review, total incoming resources amounted to £137,599 (2024 - £155,603) with individual donations made ranging in size from the smallest of £100 to the largest of £10,000, totalling £125,900 (2024 - £99,900). Support costs of £57,954 (2024 - £46,581) and investment management fees of £33,269 (2024 - £32,935) were incurred. The result is net incoming resources for the year of minus £79,524 (2024 - minus £23,813).
Future Developments
The Trustees envisage that, after expenses, the income of the Charity should be fully utilised each year. It is the Trustees' present policy not to respond to unsolicited requests from individuals for assistance and to only make donations to registered charities.
Investment Policy
The investment objective for the Trust is for a balance between capital growth and income with a medium risk investment strategy as defined in a Policy Statement Agreement dated 2 May 2017. At a Trustees meeting held on 13 March 2023, no changes were made to the strategy. The Trustees concluded that all necessary areas of risk have been considered and precautions have been taken.
The portfolio is invested predominantly via a well diversified selection of UK equity holdings providing exposure to companies on reasonable valuations with attractive yields. These are complimented by investments in a number of specialist collective funds providing modest exposure to overseas markets with lower than UK income returns and several investments in comparatively high yielding fixed interest UK and international bonds.
Investment Performance
The investment performance for the Trust for the year ended 5 April 2025 showed a loss of £171,232 (3.2%) compared to a gain of £95,794 (1.85%) in the previous year. Under the terms of the 2017 Policy Statement Agreement referred to above, the performance of the portfolio is measured against the WMA (Wealth Management Association) Balanced Index. The investment performance will be monitored closely by the investment managers and the Trustees and reviewed again in the usual manner at the Trustees' annual meeting in 2026, again taking account of the independent investment report from Enhance and the new benchmark referred to above.
The Trust produced investment income of £137,599 (2024 - £155,603) during the year ended 5 April 2025 providing a yield of 2.68% on the value of the portfolio at 5 April 2025.
The capital liquidity of the fund stood at 0.96% as at 5 April 2025 and the Trustees are satisfied with this level of liquidity, as in general, liquidity should be no more than 10%.
3
Willie and Mabel Morris Charitable Trust
Trustees' Annual Report for the year ended 05 April 2025
Achievements and Performance - Grant Making Policies
Although this is a general charitable trust, as shown above there is special emphasis on certain medical matters. The Trustees have therefore concentrated their efforts on supporting such charities in that, of the donations made in the year ended 5 April 2025, £86,200 (68.5% of the total of £125,900) was granted to "medical" charities. £69,000 (54.8%) was paid to charities supporting or researching into the diseases and conditions specifically referred to in the settlement deed: £35,250 (28%) to cancer related charities, £23,750 (18.9%) to neurological diseases, £7,500 (6%) to heart trouble and £2,500 (2%) to arthritis.
Related Parties
Suzanne Jane Marriott, a Trustee, is an equity partner with Charles Russell Speechlys LLP. Alan Michael Bryant, a Trustee, was a senior associate with Charles Russell Speechlys LLP who retired from practice on 6 June 2018. Alan retired as a Trustee on 21 May 2024.
Charles Russell Speechlys LLP is the administrator of and legal adviser to the Trust and fees were paid to Charles Russell Speechlys LLP during the period covered by this account as indicated in note 4 to the accounts.
Public Benefit Statement
The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Approved on behalf of the Trustees
. Suzanne Jane Marriott
03/02/2026 ........................................................ Date
4
Willie and Mabel Morris Charitable Trust
Independent Examiner's Report to the Trustees of The Willie and Mabel Morris Charitable Trust
I report to the trustees on my examination of the accounts of The W & M Morris Charitable Trust (the Charity) for the year ended 5th April 2025 which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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:
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1) Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) The Accounts do not accord with those records; or
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3) The Accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
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 property understanding of the accounts to be reached.
Couch Bright King & Co Chartered Accountants 2 Tolherst Court Turkey Mill Business Park Ashford Road, Maidstone Kent, ME14 5SF
Ms Tarwa Mohammed, BA FCA Couch Bright King & Co Chartered Accountants Independent Examiners Chartered Accountants
4th February 2026
5
Willie and Mabel Morris Charitable Trust
Statement of Financial Activities for the year ended 05 April 2025
| Income | Capital | Total | Total | ||
|---|---|---|---|---|---|
| Account | Account | Funds | Funds | ||
| Note | Unrestricted | Unrestricted | Unrestricted | Unrestricted | |
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Investment Income | 2 | 137,599 | - | 137,599 | 155,603 |
| ───────── | ───────── | ──────── | ──────── | ||
| Total Incoming Resources | 137,599 | - | 137,599 | 155,603 | |
| Resources Used | |||||
Donations Paid |
9 | 125,900 | - | 125,900 | 99,900 |
Support Costs |
3 | 57,954 | - | 57,954 | 46,581 |
Investment Management |
3 | - | 33,269 | 33,269 | 32,935 |
| ───────── | ───────── | ───────── | ───────── | ||
| Total Resources Expended | 183,854 | 33,269 | 217,123 | 179,416 | |
| ───────── | ───────── | ───────── | ───────── | ||
| Net incoming/(outgoing) resources | |||||
| before other recognised gains and | (46,255) |
(33,269) | (79,524) | (23,813) | |
| losses | |||||
| ───────── | ───────── | ───────── | ───────── | ||
| Gains and Losses on | |||||
| Investment Assets | |||||
Net (Losses)/Gains on |
5 | - | (171,232) | (171,232) | 95,794 |
| Investments | |||||
| ───────── | ──────── | ───────── | ──────── | ||
| Net movement in the year | (46,255) | (204,501) | (250,756) | 71,981 | |
| Balance as at 6 April 2024 | 110,191 | 5,394,407 | 5,504,598 | 5,432,617 | |
| ───────── | ───────── | ───────── | ───────── | ||
| Balance as at 5 April 2025 | 63,936 | 5,189,906 | 5,253,842 | 5,504,598 | |
| ════════ | ════════ | ════════ | ════════ |
6
Willie and Mabel Morris Charitable Trust
Balance Sheet
as at 05 April 2025
| Note | 5 April 2025 | 5 April 2025 | 5 April | 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Investments | 5 | 5,128,880 | 5,331,013 | ||
| Current Assets | |||||
| Cash | 6 | 167,882 | 217,809 | ||
| Debtors | 7 | 315 | - | ||
| Creditors: falling due within one year | 8 | (43,235) | (44,224) | ||
| ──────── | ──────── | ||||
| Net Current Assets | 124,962 | 173,585 | |||
| ──────── | ──────── | ||||
| Total Net Assets | 5,253,842 | 5,504,598 | |||
| ════════ | ════════ | ||||
| Represented by: | |||||
| CAPITAL ACCOUNT UNRESTRICTED | |||||
| Balance as at 5 April 2025 (2024) | 5,189,906 | 5,394,407 | |||
| INCOME ACCOUNT | |||||
| Balance as at 5 April 2025 (2024) | 63,936 | 110,191 | |||
| ──────── | ──────── | ||||
| TOTAL CHARITY FUNDS | 5,253,842 | 5,504,598 | |||
| ════════ | ════════ | ||||
| Approved on behalf of the Trustees | |||||
| 03/02/2026 | |||||
| ............................................................. | ............................................................. | ||||
| Suzanne Jane Marriott | Date |
7
Willie and Mabel Morris Charitable Trust
Notes to the Trust Accounts for the year ended 05 April 2025
1 Summary of significant accounting policies
(a) General Information and Basis of Accounting
The financial statements have been prepared under the historical cost convention except for investments which have been included at market value. The 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 2019) issued in October 2019 and the Charities Act 2011.
The Charity constituted a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
The financial statements were presented in sterling which is the functional currency of the Charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Investments and Investment Income
Quoted fixed asset investments are stated at market value at the balance sheet date. Investment income is credited to the Income Account when receivable. Realised gains and losses on the disposal of investments and unrealised gains and losses are credited to/deducted from the Capital Account.
(c) Incoming Funds
Funds added to the Trust are credited to the Capital Account when received.
(d) Charitable Donations
All donations are distributed from the Income Account following approval by the Trustees.
(e) Transfers
Transfers are made from the capital account to the income account to facilitate the payment of donations and other expenses from the Trust.
2 Investment Income
| Investment Income | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| UK Equity Dividends | 51,470 | 74,502 | |
| UK Unit Trust Dividends | 4,108 | 3,596 | |
| UK Unit Trust Interest (Gross) | 14,467 | 13,601 | |
| UK Fixed Interest (Gross) | 26,955 | 27,950 | |
| UK REIT Income (Net) | 12,849 | 10,134 | |
| Foreign Interest (Gross) | 2,349 | 1291 | |
| Foreign Unit Trust Dividends (Gross) | 3,619 | 3,279 | |
| Foreign Dividends (Gross) | 25,506 | 24,669 | |
| Foreign Dividends (Overseas Tax Paid) | (3,724) | (3,419) | |
| ──────── | ──────── | ||
| 8 | 137,599 ════════ |
155,603 ════════ |
Willie and Mabel Morris Charitable Trust
Notes to the Trust Accounts for the year ended 05 April 2025
3 Administration
| Administration | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Support Costs | ||
| Charles Russell Speechlys Income Fees | 50,201 | 40,920 |
| Couch Bright King Independent Examination Fee | 3,120 | 2,904 |
| Coutts & Co - Account Charges | 554 | 552 |
| Mrs A M Tether honorarium | 2,500 | 1,750 |
| Trustees' Expenses | 1,545 | 415 |
| Bank Charges | 34 | 40 |
| ──────── | ──────── | |
| 57,954 | 46,581 | |
| ════════ | ════════ | |
| Investment Management Fees | ||
| J M Finn & Co - Management Fees | 32,769 | 32,435 |
| Enhance Investments – Investment Review Fee | 500 | 500 |
| ──────── | ──────── | |
| 33,269 | 32,935 | |
| ════════ | ════════ |
4 Information regarding Trustees and Employees
The Trust had no employees and no Trustees received remuneration during the year. The Trustees have not purchased indemnity insurance. Mrs S J Marriott is an equity partner with Charles Russell Speechlys LLP and A M Bryant was a senior associate with Charles Russell Speechlys LLP. Fees of £50,2011 (2024 - £40,920) were payable to Charles Russell Speechlys LLP in the role of administrators and legal advisers to the Trust.
One of the Trustees, Mrs A M Tether, received expenses of £2,500 during the year (2024 - £1,750) incurred while acting as the contact for charities making applications to the Trust for assistance and in maintaining bookkeeping and other records in connection with such applications and other aspects of the trust administration, including (but not exclusively) telephone, stationery and travelling expenses as appropriate.
9
Willie and Mabel Morris Charitable Trust
Notes to the Trust Accounts for the year ended 05 April 2025
5 Fixed Asset Investments
The portfolio is structured to provide a wide range of diversification to protect the trust assets and to provide a balance between income and capital growth.
Investments: listed on a recognised Stock Exchange
| Investments: listed on a recognised Stock Exchange | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Market Value as at 5 April 2024 (2023) | 5,273,158 | 5,259,558 | |
| Additions at Cost | 1,077,982 | 1,460,776 | |
| Disposal proceeds | (1,100,288) | (1,542,970) | |
| ──────── | ──────── | ||
| 5,250,852 | 5,177,364 | ||
| Net Gains | (171,232) | 95,794 | |
| ──────── | ──────── | ||
| Market Value as at 5 April 2025 (2024) | 5,079,620 | 5,273,158 | |
| J M Finn Capital Cash Held | 49,260 | 57,856 | |
| ──────── | ──────── | ||
| Total | 5,128,880 | 5,331,013 | |
| ════════ | ════════ | ||
| 6 | Cash | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Coutts & Co – Current Account | 119,541 | 6,265 | |
| J M Finn & Co - Income Account | 706 | 161,544 | |
| Cash in banking system | - | 50,000 | |
| CAF - Bank Account | 40,361 | - | |
| Charles Russell Speechlys LLP - Client Account | 7,274 | - | |
| ──────── | ──────── | ||
| 167,882 | 217,809 | ||
| ════════ | ════════ | ||
| 7 | Debtors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accrued interest | 315 | - | |
| ──────── | ──────── | ||
| 315 | - | ||
| ════════ | ════════ |
10
Notes to the Trust Accounts for the year ended 05 April 2025
| 8 | Creditors - amounts falling due within one year | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Agreed donations outstanding | 10,000 | 2,500 | |
| Charles Russell Speechlys LLP Income Fee | 30,115 | 38,820 | |
| Couch Bright King Fees | 3,120 | 2,904 | |
| ──────── | ──────── | ||
| 43,235 | 44,224 | ||
| ════════ | ════════ |
11
Willie and Mabel Morris Charitable Trust
Notes to the Trust Accounts for the year ended 05 April 2025
9 Donations Made in Year
| Donations Made in Year | |
|---|---|
| All Saints Sutton PCC Aspire Bat Conversation Trust Blesma Blood Cancer UK British Red Cross Cardiac Risk in the Young Caspari Foundation Children's Book Project Club AUsome Crohns & Collitis Disabled Soldiers Association Donkey Sanctuary East Anglia Childrens Hospice Encephalitis International The Gurkha Welfare Trust Halo Trust The Hampshire Medical Fund Help in the Community HomeStart (Medway) Institute for Cancer Vaccines Karma Nirvana Letchworth Foodbank LGBT Foundation Subtotal carried forward to the next page Little Wymondley PCC The Howard Academy Trust Gillingham Street Angels Fight Bladder Cancer Cancer Research UK Douglas MacMillan Hospice Dementia UK Demelza Hospice Care for Children Children's Heart Surgery Fund Client Earth Cerebra Cockaynor H P.C.C. Crisis Cure Parkinson's Trust Alzheimer's Research UK Age UK British Liver Trust Candlelighters Brain Tumour Charity |
2025 2024 £ £ - 250 750 - 5,000 5,000 - 400 - 250 - 250 - 500 - 200 5,000 2,500 2,500 - 150 - 5,000 5,000 2,500 - 200 250 250 300 100 200 5,000 2,500 - 500 750 - 250 500 - 1,000 - 350 500 - 250 300 5,000 5,000 - 350 250 200 - 250 - 500 750 - 10,000 10,000 - 500 500 - - 500 - 700 250 - - 300 500 500 5,000 1,000 - 750 1,000 - - 750 500 500 42,050 |
| 51,950 42,050 |
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Willie and Mabel Morris Charitable Trust
Notes to the Trust Accounts for the year ended 05 April 2025
9 Donations Made in Year (continued)
| Donations Made in Year (continued) | |
|---|---|
| Subtotal from the previous page Lupus UK Maggie's MAGPAS Make a Wish Foundation Marlborough College Foundation MENCAP MENCAP (Bishop's Stortford) Mid and South Essex NHS Foundation (Blossom Suite) MS Together National Family Centre (Multibank) National Gallery Trust Olivers Foundation Pancreatic Cancer Association Peak Footpaths Pulmonary Fibrosis Trust Refuge Royal Hospital for Neuro-Disability Sibs St Mungos Stroke Association The Thunderbird Project Time To Talk Daventry Versus Arthritis The West Woodlay Community Fund West Woodham Community Charity Fund Wisdom Hospice Charity Zarach Zeo Church Total donations made in the year Parkinson's UK Prostate Cancer UK National Autistic Society Medical Detection Dogs Macmillan Cancer Support Medway Foodbank - Help In The Community Motor Neurone Disease Association Meningitis Now My Shining Star Teenage Cancer Trust The Royal British Legion Young Epilepsy Water Aid Tilehouse Counselling Waste Aid Time to Talk Support Dogs Salvation Army Trussell Trust |
2025 2024 £ £ 51,950 42,050 2,000 - 5,100 5,000 - 500 2,000 500 - 200 - 250 5,000 2,500 - 300 - 250 - 500 2,500 2,500 1,000 - 2,500 2,500 - 300 250 300 2,750 2,500 1,500 - 700 - - 250 - 500 2,500 2,500 - 100 5,000 5,000 1,500 - 5,500 - 1,500 1,000 2,500 - 250 250 300 - 250 - 5,000 5,000 5,000 2,500 5,000 5,000 750 - - 2,500 2,500 2,500 - 1,000 250 500 2,500 2,500 5,000 5,000 100 500 - 150 50 - 500 - 2,500 2,500 200 250 - 250 |
| 125,900 99,900 ════════ ════════ |
13