Charity Registration No. 282936
C H DIXON CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
----- Start of picture text -----
One Bell Lane
Lewes
East Sussex
BN7 1JU
----- End of picture text -----
C H DIXON CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Company information | 1 |
| Trustees report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
C H DIXON CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr R Robinson |
|---|---|
| Ms C M Menon | |
| Ms V M Dakin | |
| F E Robinson | |
| Mr C B Hunt | |
| Charity number | 282936 |
| Principal address | 22 Vicarage Drive |
| East Sheen | |
| London | |
| SW14 8RX | |
| Independent examiner | TC Group |
| One Bell Lane | |
| Lewes | |
| East Sussex | |
| BN7 1JU | |
| Bankers | CAF Bank Ltd |
| PO Box 289 | |
| 25 Kings Hill Avenue | |
| West Malling | |
| Kent | |
| ME19 4TA | |
| Solicitors | Dixon Ward |
| 16 The Green | |
| Richmond | |
| Surrey | |
| TW9 1QD |
- 1 -
C H DIXON CHARITABLE TRUST
TRUSTEES REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019).
Objectives and activities
The principal object of the Charity is that monies received be held and used for such Charity or Charities or for such Charitable purposes and in such manner as the Charity's Trustees in their discretion select and determine. Monies are regularly distributed to deserving causes.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable trust should undertake.
Financial review
Declarations of trust were made on 31 March 2015 apportioning 6.37% of the A Dixon Estate and 28.44% of the A H Dixon Estate to the charitable trust. Available distributable funds at the year end together with expected income is considered to be sufficient to meet the Charity's planned donations for the forthcoming year.
It is the policy of the charitable trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to enable the trustees to continue to maintain, as far as possible, their established level of giving. This level of reserves has been maintained throughout the year.
The Charity received property and shares to be kept in perpetuity. However this capital can be used under certain conditions at the discretion of the trustees in line with the Deed of Variation. The trustees' policy is to maintain income whilst preserving the real value of the endowed assets.
The trustees have assessed the major risks to which the charitable trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charitable trust was established by the Will of C H Dixon dated 19 March 1977 and a Deed of Variation dated 16 June 1981.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr R Robinson
Ms C M Menon Ms V M Dakin F E Robinson Mr C B Hunt
New or additional trustees can be appointed by the existing trustees.
- 2 -
C H DIXON CHARITABLE TRUST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
The trustees report was approved by the Board of Trustees.
Mr R Robinson
Dated: 13 September 2025
Trustee
- 3 -
C H DIXON CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF C H DIXON CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of C H Dixon Charitable Trust (the charitable trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the trustees of the charitable trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charitable trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no 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 charitable trust as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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.
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
N Rawson on behalf of TC Group
Dated: 15 September 2025
One Bell Lane Lewes East Sussex BN7 1JU
- 4 -
C H DIXON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2025
Current financial year
| Unrestricted Endowment funds funds 2025 2025 Notes £ £ Income and endowments from: Charitable activities 2 - - Investments 3 65,522 - Other income 4 1,020 - Total income 66,542 - Expenditure on: Charitable activities 5 39,504 - Material other expenditure - - Total resources expended 39,504 - Net gains/(losses) on investments 9 - (116,862) Net incoming/(outgoing) resources before transfers 27,038 (116,862) Net movement in funds 40,564 (130,388) Net incoming/(outgoing) resources before transfers 27,038 (116,862) Gross transfers between funds 13,526 (13,526) Fund balances at 6 April 2024 161,116 2,036,154 Fund balances at 5 April 2025 201,680 1,905,766 |
Total 2025 £ - 65,522 1,020 66,542 39,504 - 39,504 (116,862) (89,824) (89,824) (89,824) - 2,197,270 2,107,446 |
Total 2024 £ 4,326 63,928 - |
|---|---|---|
| 68,254 | ||
| 75,667 | ||
| 46,923 | ||
| 122,590 | ||
| 137,166 | ||
| 82,830 82,830 82,830 - |
||
| 2,114,440 | ||
| 2,197,270 |
- 5 -
C H DIXON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Prior financial year
| Unrestricted funds 2024 Notes £ Income and endowments from: Charitable activities 2 - Investments 3 63,928 Total income 63,928 Expenditure on: Charitable activities 5 75,667 Material other expenditure - Total resources expended 75,667 Net gains/(losses) on investments 9 - Net incoming/(outgoing) resources before transfers (11,739) Gross transfers between funds - Net movement in funds (11,739) Fund balances at 6 April 2023 172,855 Fund balances at 5 April 2024 161,116 |
Restricted Endowment funds funds 2024 2024 £ £ 4,326 - - - 4,326 - - - - 46,923 - 46,923 - 137,166 4,326 90,243 (13,526) 13,526 (9,200) 103,769 9,200 1,932,385 - 2,036,154 |
Total 2024 £ 4,326 63,928 |
|---|---|---|
| 68,254 | ||
| 75,667 | ||
| 46,923 | ||
| 122,590 | ||
| 137,166 | ||
| 82,830 - |
||
| 82,830 2,114,440 |
||
| 2,197,270 |
- 6 -
C H DIXON CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Fixed assets Investments 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charitable trust Endowment funds 13 Unrestricted funds |
2025 £ £ 1,991,291 118,526 (2,371) 116,155 2,107,446 2,107,446 1,905,766 201,680 2,107,446 |
2024 £ £ 2,108,152 91,313 (2,195) 89,118 2,197,270 2,197,270 2,036,154 161,116 2,197,270 |
2024 £ £ 2,108,152 91,313 (2,195) 89,118 2,197,270 2,197,270 2,036,154 161,116 2,197,270 |
|---|---|---|---|
| 2,197,270 | |||
| 2,197,270 | |||
| 2,036,154 161,116 |
|||
| 2,197,270 |
The financial statements were approved by the trustees on 13 September 2025
Mr R Robinson
Trustee
- 7 -
FOR THE YEAR ENDED 5 APRIL 2025
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
Charity information
C H Dixon Charitable Trust is a Charity established by the will of C H Dixon dated 9 March 1977 and a Deed of Variation dated 16 June 1981.
1.1 Accounting convention
The accounts have been prepared in accordance with the charitable trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The charitable trust is a Public Benefit Entity as defined by FRS 102.
The charitable trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charitable trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are funds that can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable trust. However it can be used under certain conditions at the discretion of the trustees in line with the Deed of Variation.
1.3 Incoming resources
Income is recognised when the charitable trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
- 8 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.4 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to a cost heading on the Statement of Financial Activities. The charity is not registered for VAT and accordingly expenditure is shown gross of VAT.
Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements.
1.5 Fixed asset investments
Fixed asset investments are stated at fair value.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 9 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable trust’s contractual obligations expire or are discharged or cancelled.
1.7 Creditors
Accruals are recognised when the charity has a present obligation resulting from a past event and the amount can be measured or estimated reliably.
2 Income from charitable activities
| Restricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Income from charitable activities | ||||
| Performance related grants | - | 261 | ||
| Other income | - | 4,065 | ||
| - | 4,326 | |||
| All income was attributable to restricted income funds. | ||||
| 3 | Investments | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Income from listed investments | 64,750 | 63,475 | ||
| Interest receivable | 772 | 453 | ||
| 65,522 | 63,928 | |||
| 4 | Other income | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Other income | 1,020 | - |
- 10 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
| 4 Other income 5 Charitable activities Independent examiners' fee Bank charges Professional fees Charitable gifts (see note 6) All of the expenditure was attributable to unrestricted income funds. 6 Grants payable Grants to institutions: Treloar Trust Glyndebourne Arts Trust St Margaret's Hospice Tanya's Courage Trust Ducks and Drakes Cancer Trust Space2grieve River Thames Boat Project Royal Ballet School Force Concept Charity S.U.R.E Charity Other |
(Continued) 2025 2024 £ £ 2,370 2,196 69 65 - 406 2,439 2,667 37,065 73,000 39,504 75,667 2025 2024 £ £ 7,500 - 2,000 - 10,000 - 2,500 - 2,500 - - 5,000 - 50,000 7,500 18,000 2,500 - 2,500 - 65 - 37,065 73,000 |
(Continued) 2025 2024 £ £ 2,370 2,196 69 65 - 406 2,439 2,667 37,065 73,000 39,504 75,667 2025 2024 £ £ 7,500 - 2,000 - 10,000 - 2,500 - 2,500 - - 5,000 - 50,000 7,500 18,000 2,500 - 2,500 - 65 - 37,065 73,000 |
|---|---|---|
| 2,667 73,000 |
||
| 75,667 | ||
| 2024 £ - - - - - 5,000 50,000 18,000 - - - |
||
| 73,000 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year.
- 11 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
8 Employees
The average monthly number of employees during the year was:
| Total There were no employees whose annual remuneration was more than £60,000. |
2025 Number - |
2024 Number - |
|---|---|---|
9 Gains and losses on investments
| Endowment | Endowment | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | (116,862) | 137,166 |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Fixed asset investments
| Unlisted | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 6 April 2024 | 2,108,152 |
| Valuation changes | (116,861) |
| At 5 April 2025 | 1,991,291 |
| Carrying amount | |
| At 05 April 2025 | 1,991,291 |
| At 05 April 2024 | 2,108,152 |
- 12 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
11 Fixed asset investments
(Continued)
Fixed asset investments revalued
Fixed asset investments are stated at fair value. The historical cost at the balance sheet date was £1,664,926 (2024 - £1,664,926)
12 Creditors: amounts falling due within one year
| Accruals and deferred income Endowment funds At 6 Expendable endowments Capital fund Other fund Previous year: At 6 Expendable endowments Capital fund Other fund |
April 2024 £ 2,022,628 13,526 2,036,154 April 2023 £ 1,932,385 - 1,932,385 |
Resources expended £ - - - Resources expended £ (46,923) - (46,923) |
Transfers £ - (13,526) (13,526) Transfers £ - 13,526 13,526 |
2025 £ 2,371 Gains and losses At 5 £ (116,862) - (116,862) Gains and losses At 5 £ 137,166 - 137,166 |
2024 £ 2,195 |
|---|---|---|---|---|---|
| April 2025 £ 1,905,766 - |
|||||
| 1,905,766 | |||||
| April 2024 £ 2,022,628 13,526 |
|||||
| 2,036,154 |
13 Endowment funds
The capital fund represents monies gifted to the Charity under a Deed of Variation of the Will of C H Dixon Deceased. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gain or loss arising on assets in the fund form part of the fund. The capital in the fund can be used for charitable purposes at the discretion of the trustees.
The other fund relates to funds received for maintenance for the land at Hanging Langford. Since the land has now been donated, these funds can now be used in accordance with the general charitable purposes of the trust. The funds have been transferred to unrestricted funds to reflect this.
- 13 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 6 April 2024 £ General funds 161,116 Previous year: At 6 April 2023 £ General funds 172,855 Analysis of net assets between funds At 5 April 2025: Investments Current assets/(liabilities) At 5 April 2024: Investments Current assets/(liabilities) |
Incoming resources Resources expended TransfersAt 5 £ £ £ 66,542 (39,504) 13,526 Incoming resources Resources expended TransfersAt 5 £ £ £ 63,928 (75,667) - Unrestricted Endowment funds funds 2025 2025 £ £ - 1,991,291 201,680 (85,525) 201,680 1,905,766 Unrestricted Endowment funds funds 2024 2024 £ £ - 2,108,152 161,116 (71,998) 161,116 2,036,154 |
April 2025 £ 201,680 |
|---|---|---|
| April 2024 £ 161,116 |
||
| Total 2025 £ 1,991,291 116,155 |
||
| 2,107,446 | ||
| Total 2024 £ 2,108,152 89,118 |
||
| 2,197,270 |
15 Analysis of net assets between funds
- 14 -
C H DIXON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
16 Related party transactions
Transactions with related parties
During the year there were no transactions with related parties.
- 15 -