Charity�registration�number�283462�(England�and�Wales)
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
ANNUAL�REPORT�AND�FINANCIAL�STATEMENTS FOR�THE�YEAR�ENDED�5�APRIL�2025
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
CONTENTS
| Page | |
|---|---|
| Legalandadministrativeinformation | 1 |
| Trustees'report | 2- 5 |
| Statementoftrustees'responsibilities | 6 |
| Independentexaminer'sreport | 7 |
| Statementoffinancialactivities | 8 |
| Statementoffinancialposition | 9 |
| Statementofcashflows | 10 |
| Notestothefinancialstatements | 11- 19 |
| Investmentschedule | 20 |
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
LEGAL�AND�ADMINISTRATIVE�INFORMATION
Trustees Mrs�Susanna�Peake Mrs�Katharine�Loyd Charity�number 283462 Principal�office�/�Address�for�appeals 30�Gresham�Street London EC2V�7QN Independent�Examiners Perrys�Audit�Limited Churchdown�Chambers Bordyke Tonbridge TN9�1NR Bankers Lloyds�Bank�Plc High�Street Moreton-in-Marsh Gloucestershire GL56�0AY Solicitors Currey�&�Co 33�Queen�Anne�Street London W1G�9HY Investment�advisors Sarasin�and�Partners�LLP Juxon�House 100�St�Paul's�Churchyard London EC4M�8BU
Investment�advisors
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
TRUSTEES'�REPORT��
FOR�THE�YEAR�ENDED�5�APRIL�2025
The�trustees�present�their�report�and�accounts�for�the�year�ended�5�April�2025.
The�accounts�have�been�prepared�in�accordance�with�the�accounting�policies�set�out�in�note�1�of�the�accounts�and� comply�with�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�accounts�also�comply�with the�Charity's�governing�document.
Objectives�and�activities
The�trustees�hold�unrestricted�funds�from�which�they�make�donations�for�such�charitable bodies�or�institutions�at such�times�and�in�such�manner�as�the�trustees�may,�in�their�absolute�discretion, think�fit.
Other�than�the�operation�of�the�investment�portfolio�no�other�fund�raising�activity�is�undertaken�to�support�the�work� of�the�charity.��
The�aims�of�the�charity�are�to�apply,�at�the�discretion�of�the�trustees,�grants�to�organisations�in�furtherance�of�the� charity's�objectives.
The�charity�is�essentially�investment�based�and�the�trustees�consider�the�funds�held�as�defined�as capital�and� income�and�hold�those�funds�with�a�view�to�distributing�the�income�generated�from�the�investment portfolio�and,�as� far�as�may�be necessary,�the�capital�for�or�towards�the�grants�the�trustees�have�decided to�make.
Statement�of�compliance�with�Charity�Commission�guidance
The�trustees confirm�that�they�have paid due�regard�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�and� setting�donations�to�be�made�in�the�following�year.
The�trustees support�a�number�of�charitable�organisations,�as�shown�within�note�17 to�the�financial�statements.��The� trustees�are�satisfied�that�the�information�provided�in�the�report�and�accounts�meets�the�public�benefit�reporting� requirements.
Charitable�activities
The�trust�is�solely�involved�in�grant�making,�and�as�such,�the�activities�it�undertakes�pertain�to raising�and� maintaining�funds�for�the�application�of�its�chosen�grants.
Grant making�policy
The�trustees�meet�on�an�ad�hoc�basis�to�review�applications�for�funding,�and�a�full�review is�undertaken�annually when�the�financial�statements�are�available.��Only�successful�applicants�are�notified�of�the�trustees'�decision.�� Certain�charities�are�supported�regularly,�although�no�commitment�is�given�for�the�continued�or�future�support�of� such�charitable�organisations.
Achievements�and�performance
During�the�year�under�review,�the�Trustees�resolved�to�make�49�donations�totalling�£418,600�(£274,700�in�2024),� these�are�detailed�in�note�17�of�these�accounts.
A�breakdown�of�the�categories�and�the�types�of�charities�that�are�supported�is�shown�in�note�6�of�these�financial� statements.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
TRUSTEES'�REPORT��(CONTINUED) FOR�THE�YEAR�ENDED�5�APRIL�2025
Investment�performance
For�the�financial�year�ended�5th�April�2025,�the�Trust�produced�a�return�after�fees�of�-2.9%�versus�the�composite� benchmark�return�of�-1.1%.
As�at�5th�April�2025�the�portfolio’s�allocations�were�as�follows:�14.4%�in�fixed�income,�74.1%�in�global�equities,�6.1%� in�alternative�assets�and�4.4%�in�liquid�assets.�The�forecast�income�was�standing�at�£186,416�for�a�yield�of�2.2%.
After�a�strong�run�for�equities�through�2024�and�into�the�first�months�of�2025,�markets�gave�back�their�gains�in� March�as�consensus�started�to�appreciate�that�President�Trump’s�focus�on�cutting�Federal�spend�via�DOGE� (Department�of�Government�Efficiency)�may�negatively�impact�US�GDP�growth.�In�combination�to�this�was�market� concerns�around�AI�spending�and�heightened�valuations�in�the�US.�The�net�result�was�a�more�challenging�first� quarter�of�2025�after�a�strong�year�in�2024.
The�key�feature�of�2024�had�been�the�stark�contrast�between�the�strength�of�the�U.S.�market�and�the�structural� challenges�faced�by�other�regions.�The�U.S.�economy�delivered�robust�growth,�supported�by�a�strong�labour�market� and�a�thriving�services�sector.�Meanwhile,�Europe�had�to�contend�with�economic�and�political�instability,�leading�to� sluggish�industrial�output�and�subdued�performance�of�local�stock�markets.�This�has�reversed,�to�an�extent,�as�we� moved�through�the�first�quarter�of�2025,�with�Europe�performing�strongly�off�the�back�of�large�fiscal�announcements� and�relative�pockets�of�value,�in�contrast�to�a�US�market�that�was�highly�valued�and�begun�to�see�downgrades�to� GDP�growth�expectations.
During�the�latter�half�of�the�2024/25�fiscal�year,�the�market�produced�broader�market�participation�with�good� performance�coming�from�a�range�of�industries�following�the�tech-heavy�rally�through�2023�and�into�the�first�half�of� 2024.�Within�the�portfolio,�standout�performers�included�CME�(Chicago�Mercantile�Exchange),�Compass�Group,� Mastercard�and�London�Stock�Exchange.�That�being�said,�the�dominant�story�throughout�2024�has�been�the�rapid� adoption�of�Artificial�Intelligence,�which�has�remained�one�of�the�principal�drivers�of�market�performance.�Portfolio� companies�such�as�Nvidia,�Meta,�and�TSMC�continued�to�capture�significant�investor�attention�as�AI�reshapes�the� investment�universe.
As�markets�became�concerned�about�the�outlook�for�US�GDP�growth,�the�investment�managers�made�some reduction�to�equity�exposure�and�reduced�corporate�bond�exposure�in�favour�of�gilts,�recognising�that�credit�spreads� (the�extra�yield�offered�by�corporate�bonds�over�government�issues)�had�narrowed�to�their�lowest�levels�since�the� financial�crisis�of�2008.�However,�the�performance�of�the�Charity’s�portfolio�inevitably�was�not�immune�to�the� correction�in�global�equities�in�the�first�quarter�of�2025,�which�included�a�significant�reversal�of style�leadership�away� from�both�the�US�stock�market�and�the�technology�sector�for�the�first�time�in�many�years.
In�terms�of�strategic�asset�allocation�for�the�Charity,�the�investment�managers�continue�to�believe�the�portfolio’s� equity�exposure�is�best�placed�to�deliver�inflation�protection�over�the�long-term.�A�number�of�small changes�to�the� strategic�asset�allocation�of�the�portfolio�were�made�in�early�2025�in�order�to�align�with�the�CHK�Charity’s�strategic� asset�allocation.
Equity�exposure�started�and�finished�the�year�at�74%,�although�the�neutral�equity�weighting�was�actually�increased� during�the�year�from�70%�to�75%.�The�portfolio�has�retained�fixed�income�exposure�at�just�under�15%, however� notably�with�a�shorter�duration�profile.�The�portfolio’s�bonds�are�generating�a�5.0%�yield-to-maturity�while�exposure� is�now�tilted�in�favour�of�government�bonds�over�corporate�bonds.�The�balance�of�the�portfolio�is�allocated�to� alternatives�(6.1%),�which�is�predominantly�gold�and�infrastructure�assets.�Finally,�the�portfolio�holds�4.4%�in�cash.
Risks:
Aside�from�inherent�market�or�systemic�risk�to�which�the�Trust’s�investments�are�naturally�exposed,�the�portfolio�is� well�diversified�at�a�stock�level,�geographically�and�by�industrial�sector,�and�also�across�a�range�of�asset�classes.
(Performance�numbers�source�Sarasin,�GBP,�Mid�to�Mid,�net�with�income�reinvested.)
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
TRUSTEES'�REPORT��(CONTINUED) FOR�THE�YEAR�ENDED�5�APRIL�2025
Financial�review
Total�incoming�resources�were�£198,234�(£261,626�in�2024),�with�£420,840�(£284,533�in�2024)�being�committed�to� charitable�activities�of�which�£2,240�(£9,833�in�2024)�relates�to�support�and�governance�costs.��Costs�of�fundraising� amounted�to�£33,928�(£34,827 in�2024). There�was�an�unrealised�loss of�£388,734�(profit�of�£607,384�in�2024)�on� investments�and�in�addition�a�realised�loss of�£18,846�(loss of�£167,145�in�2024)�resulting�in�net�outflow of�funds�of� £664,114�(inflow of�£382,505�in�2024).�
Reserves
The�Trustees�have�a�balanced�investment�policy�and�normally�only�distribute�income�to�fund�their�donations�on�an� annual�basis.�Capital�is�usually�retained�in�order�to�maintain�the�fund�and�allow�for�growth.
The�balance�held�on�unrestricted�reserves�as�at�5�April�2025�was�£8,745,441.
Investment�policy
As�there�are�no�specific�restrictions�of�investment�powers�under�the�governing�deed,�the�trustees�have�full�discretion� over�the�investments�held.�The�trustees�have�delegated�their�investment�powers�to�Sarasin�and�Partners�LLP�to� have�full�discretionary�day�to�day�control�of�the�investments.�The�trustees�have�reviewed�current�policies�and�do�not� feel�any�amendments�are�necessary.��Assets�have�been�acquired�and�disposed�of�in�accordance�with�the powers� available�to�the�trustees.
Risks
Aside�from�inherent�market�or�systemic�risk�to�which�the�trust’s�investments�are�exposed,�the�portfolio�is�well� diversified�at�a�stock�level,�geographically�and�by�industrial�sector,�and�also�across�a�range�of�asset�classes.
The�trustees�recognise�the�risk�associated�with�investment�in�mainstream�financial�markets�and�accept�this�risk�in� return�for�the�prospect�of�greater�returns�over�the�longer�term.�The�trustees�are�satisfied�that�systems�are�in�place�to� mitigate�exposure�to�major�risks�and�continue�to�review�the�adequacy�of�the�systems�in�place.
Plans�for�future�periods
The�trustees�continue�to�review�grant�application�requests�and�also�to�research�suitable�projects�to�which�they�can� make�grants�in�furtherance�of�their�charitable�objectives.
Structure,�governance�and�management
The�Mrs�Susanna�Peake�Charitable�Trust was�created�by�a�charitable�trust�deed�dated�10th�June�1981.
The�trustees�are�to�hold�the�capital�and�income�of�the�trust�fund�upon�trust�to�apply�the�income,�and�as�far�as�may� be�necessary,�the�capital�for�and�towards�such�charitable�objects�and�purposes�and�to�make�donations to�such� charitable�bodies�or�institutions�in�the�United�Kingdom�or�any�other�part�of�the�world�at�such�times and�in�such� manner�as�the�trustees�may�in�their�absolute�discretion�think�fit.
The�Trustees who�served�during�the�year�and�were�also�in�office�at�the�date�of�signing the�financial�statements were:
Mrs�Susanna�Peake
Mrs�Katharine�Loyd
Recruitment�and�appointment�of�trustees
The�settlor,�Mrs�Susanna�Peake,�has�the�power�during�her�lifetime�to�appoint�new�or�additional�trustees�as�she�feels� fit�and�thereafter�the�then�current�trustees.�Trustees�will�be�selected�based�on�their�connection�with�the�current� trustees�in�accordance�with�their�skills,�experience�and�understanding�of�the�obligations�imposed�on such�an� appointment.
The�Charity's�other�advisors�are�noted�on�page�1.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
TRUSTEES'�REPORT��(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
Decision making�structure
The�Trustees,�who�receive�no�remuneration,�meet�on�a�frequent,�ad�hoc�basis�to�consider�applications�for�funding� and�a�full�review�is�made�at�an�Annual�Meeting�when�the�financial�statements�are�available.��Investment� performance�and�income�levels�are�monitored�half�yearly�at�meetings�with�the�investment�managers.
Induction�and�training�of�trustees
Incoming�trustees�are�to�be�made�aware�of�their�responsibilities�and�the�trust's�objectives�from�the�existing�trustees� and�their�other�professional�advisors�at�the�date�of�their�appointment.��The�trustees�are�also�to�be kept�up�to�date�on� relevant�matters�by�their�professional�advisors.
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�and�the�accounts�comply�with�current�statutory�requirements.
Approved�by�the�board�of�trustees�and�signed�on�behalf�by:
Mrs�Susanna�Peake Mrs�Katharine�Loyd Trustee Trustee
24�July�2025
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
STATEMENT�OF�TRUSTEES'�RESPONSIBILITIES��
FOR�THE�YEAR�ENDED�5�APRIL�2025
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).
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�year.
In�preparing�these�financial�statements,�the�trustees�are�required�to:
-
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�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�sufficient�accounting�records�that�disclose�with�reasonable�accuracy�at�any� time�the�financial�position�of�the�Charity�and�enable�them�to�ensure�that�the�financial�statements�comply�with�the� Charities�Act�2011,�the�Charity�(Accounts�and�Reports)�Regulations�2008�and�the�provisions�of�the�trust�deed.�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.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
INDEPENDENT�EXAMINER'S�REPORT�
TO�THE�TRUSTEES�OF�MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
I�report�to�the�trustees�on�my�examination�of�the�financial�statements�of�Mrs�Susanna�Peake�Charitable�Trust�(the� Charity)�for�the�year�ended�5�April�2025 which�comprise�the�Statement�of�Financial�Activities,�the�Balance�Sheet,� the�Statement�of�Cash�Flows�and�related�notes.
This�report�is�made�solely�to�the�Charity’s�Trustees,�as�a�body,�in�accordance�with�section�145�of the�Charities�Act� 2011.��My�work�has�been�undertaken�so�that�I�might�state�to�the�Charity’s�Trustee�those�matters�I�am required�to� state�to�them�in�this�report�and�for�no�other�purpose.��To�the�fullest�extent�permitted�by�law,�I�do not�accept�or� assume�responsibility�to�anyone�other�than�the�Charity�and�the�Charity’s�Trustees�as�a�body,�for�my�work,�for�this� report,�or�for�the�opinions�I�have�formed.
Responsibilities�and�basis�of�report
As�the�trustees�of�the�Charity�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�Charity’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.
An�independent�examination�does�not�involve�gathering�all�the�evidence�that�would�be�required�in�an�audit�and� consequently�does�not�cover�all�the�matters�that�an�auditor�considers�in�giving�their�opinion�on�the financial� statements.�The�planning�and�conduct�of�an�audit�goes�beyond�the�limited�assurance�that�an�independent� examination�can�provide.�Consequently�I�express�no�opinion�as�to�whether�the�financial�statements�present�a�‘true� and�fair’�view�and�my�report�is�limited�to�those�specific�matters�set�out�in�the�independent�examiner’s�statement.
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�Charity�as�required�by�section�130�of�the�Charities�Act�2011.
-
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� financial�statements�set�out�in�the�Charities�(Accounts�and�Reports)�Regulations�2008�other�than�any requirement�that�the�financial�statements�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�proper�understanding�of�the�financial�statements to�be�reached.
...................................................... Stephen�Hale�FCA�FCCA Perrys�Audit�Limited
Churchdown�Chambers Bordyke Tonbridge Kent TN9�1NR
Dated:�11�August�2025
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
STATEMENT�OF�FINANCIAL�ACTIVITIES� INCLUDING�INCOME�AND�EXPENDITURE�ACCOUNT
FOR�THE�YEAR�ENDED�5�APRIL�2025
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income | |||
| Investments | 3 | 198,234 | 261,626 |
| Totalincome | 198,234 | 261,626 | |
| Expenditure | |||
| Raisingfunds | 4 | 33,928 | 34,827 |
| Charitableactivities | 5 | 420,840 | 284,533 |
| Totalresourcesexpended | 454,768 | 319,360 | |
| Net(expenditure)beforeinvestment(losses)/gains | (256,534) | (57,734) | |
| Net(losses)/gainsoninvestments | 8 | (407,580) | 440,239 |
| Netmovementinfunds | (664,114) | 382,505 | |
| Fundbalancesat6April2024 | 9,409,555 | 9,027,050 | |
| Fundbalancesat5April2025 | 8,745,441 | 9,409,555 |
The�statement�of�financial�activities�includes�all�gains�and�losses�recognised�in�the�year.�All�income�and�expenditure� derive�from�continuing�activities.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
STATEMENT�OF�FINANCIAL�POSITION�
AS�AT�5�APRIL�2025
| Notes Fixedassets Investments 12 Currentassets Debtors 13 Cashatbankandinhand Creditors:amountsfallingduewithin oneyear 14 Netcurrentassets Totalassetslesscurrentliabilities Incomefunds Unrestrictedfunds |
2025 £ £ 8,608,876 9,327 142,248 151,575 (15,010) 136,565 8,745,441 8,745,441 8,745,441 |
2024 £ £ 8,975,555 366,681 362,499 729,180 (295,180) 434,000 9,409,555 9,409,555 9,409,555 |
2024 £ £ 8,975,555 366,681 362,499 729,180 (295,180) 434,000 9,409,555 9,409,555 9,409,555 |
|---|---|---|---|
| 9,409,555 | |||
| 9,409,555 | |||
| 9,409,555 |
The�financial�statements�were�approved�by�the�board�of�Trustees�and�authorised�for�issue�on�24�July 2025�and�are� signed�on�its�behalf�by:
Mrs�Susanna�Peake Trustee
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
STATEMENT�OF�CASH�FLOWS�
FOR�THE�YEAR�ENDED�5�APRIL�2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cashflowsfromoperatingactivities | |||||
| Cashabsorbedbyoperations | 16 | (377,584) | (315,166) | ||
| Investingactivities | |||||
| Purchaseofinvestments | (2,435,792) | (4,101,640) | |||
| Proceedsondisposalofinvestments | 2,468,280 | 4,164,097 | |||
| Investmentincomereceived | 198,234 | 261,626 | |||
| Netcashgeneratedfrominvesting | |||||
| activities | 230,722 | 324,083 | |||
| Net(decrease)/increaseincashandcash | |||||
| equivalents | (146,862) | 8,917 | |||
| Cashandcashequivalentsatbeginningofyear | 466,879 | 457,962 | |||
| Cashandcashequivalentsatendofyear | 19 | 320,017 | 466,879 |
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�
FOR�THE�YEAR�ENDED�5�APRIL�2025
1 Accounting�policies
Charity�information
Mrs�Susanna�Peake�Charitable�Trust�is�a�an�unicorporated�charity�created�by�trust�deed�registered�with�the� Charity�Commission�in�England�and�Wales�under�charity�number�283462.
1.1 Accounting�convention
The�financial�statements�have�been�prepared�in�accordance�with�the�Charity's�trust�deed,��the�Charities�Act� 2011,�FRS�102�“The�Financial�Reporting�Standard�applicable�in�the�UK�and�Republic�of�Ireland”�(“FRS�102”)� and�the�Charities�SORP�"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�Charity�is�a Public� Benefit�Entity�as�defined�by�FRS�102.
1.2 Going�concern
The�Trustees�consider�that�there�are�no�material�uncertainties�about�the�Charity’s ability�to�continue�as�a going�concern.�The�review�of�our�financial�position,�reserves�levels�and�future�plans�gives the Trustees� confidence�the�Charity�remains�a�going�concern�for�the�foreseeable�future.
1.3 Charitable�funds
Unrestricted�funds�are�available�for�use�at�the�discretion�of�the�trustees�in�furtherance�of�their charitable� objectives.
1.4 Incoming�resources
Investment�income�is�accounted�for�on�an�accruals�basis�in�the�period�to�which�it�relates.
1.5 Debtors
Debtors�are�receivable�at�their�expected�settlement�amount.
1.6 Cash�and�cash�equivalents
Cash�at�bank�and�cash�in�hand�includes�cash�and�short�term�highly�liquid�investments�with�a�short�maturity�of� three�months�or�less�from�the�date�of�acquisition�or�opening�of�the�deposit�or�similar�account.
1.7 Creditors
Creditors�are�recognised�where�the�charity�has�a�present�obligation�resulting�from�a�past�event�that�will� probably�result�in�the�transfer�of�funds�to�a�third�party�and�the�amount�due�to�settle�the�obligation�can�be� measured�or�estimated�reliably.�Creditors�are�normally�recognised�at�their�settlement�amount�after�allowing�for� any�discounts�due.
1.8 Resources�expended
Management�and�administration�costs�comprise�those�costs�incurred�in�running�the�Charity.�They�have�been� apportioned�on�the�basis�of�time�spent�between�charitable�activities,�cost�of�raising�funds�and�governance� costs.
Governance�costs�consist�of�those�costs�associated�with�the�overall�running�of�the�Charity and�meeting� statutory�and�regulatory�requirements.
Grants�are�included�in�the�financial�statements�when�approved�by�the�Trustees�and�notified�to�recipients.�The� value�of�committed�grants�unpaid�at�the�year�end�is�accrued.�Grants�offered�that�are�subject�to�conditions�that� have�not�been�met�at�the�year�end�are�noted�as�a�commitment�but�not�accrued�as�expenditure.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
1 Accounting�policies
(Continued)
1.9 Financial�instruments
Basic�financial�assets,�which�include�trade�and�other�receivables�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.
Other�financial�assets,�including�investments�in�equity�instruments�which�are�not�subsidiaries,�associates�or� joint�ventures,�are�initially�measured�at�fair�value,�which�is�normally�the�transaction�price.�Such�assets�are� subsequently�carried�at�fair�value�and�the�changes�in�fair�value�are�recognised�in�net�income/(expenditure),� except�that�investments�in�equity�instruments�that�are�not�publicly�traded�and�whose�fair�values�cannot�be� measured�reliably�are�measured�at�cost�less�impairment.
The�trust�does�not�acquire�put�options,�derivatives�or�other�complex�financial�instruments.
1.10 Investments
Fixed�assets�investments�represent�listed�investments�which�are�stated�at�market�valuation,�where�market� value�represents�the�mid�market�value�on�the�last�trading�day�before�the�year�end.�Any�unrealised�or realised� gains�arising�from�investments�are�accounted�for�in�the�Statement�of�Financial�Activities.
2 Critical�accounting�estimates�and�judgements
In�the�application�of�the�Charity’s�accounting�policies,�the�trustees�are�required�to�make�judgements,� estimates�and�assumptions�about�the�carrying�amount�of�assets�and�liabilities�that�are�not�readily�apparent� from�other�sources.�The�estimates�and�associated�assumptions�are�based�on�historical�experience�and�other� factors�that�are�considered�to�be�relevant.�Actual�results�may�differ�from�these�estimates.
The�estimates�and�underlying�assumptions�are�reviewed�on�an�ongoing�basis.�Revisions�to�accounting estimates�are�recognised�in�the�period�in�which�the�estimate�is�revised�where�the�revision�affects�only�that� period,�or�in�the�period�of�the�revision�and�future�periods�where�the�revision�affects�both�current�and�future� periods.
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
3 Income�arising�from�investments
| **Unrestricted ** | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| IncomefromUKinvestments | 87,887 | 99,303 | ||
| Fixedinterest | 47,654 | 35,614 | ||
| REITS | - | 5,045 | ||
| Foreignincome | 65,626 | 106,391 | ||
| Interestreceivable | 5,146 | 23,589 | ||
| Foreigntaxdeductedatsource | (7,965) | (13,554) | ||
| Accruedinterest | (114) | 5,238 | ||
| 198,234 | 261,626 | |||
| 4 | Raisingfunds | |||
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Investmentmanagement fee | 33,928 | 34,827 | ||
| 33,928 | 34,827 | |||
| 5 | Charitableactivities | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Grantfunding(seenote17) | 418,600 | 274,700 | ||
| Governancecosts(seenote7) | 2,240 | 9,833 | ||
| 420,840 | 284,533 |
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
6 Grants�payable
| Grantstoinstitutions: EducationandChildren LocalCharitableOrganisations MedicalandHospices ElderlyandDisabled International GeneralCharitableOrganisations AnimalandEnvironment ArmedForces |
2025 £ 31,100 36,000 49,500 5,000 21,000 258,000 10,000 8,000 418,600 |
2024 £ 31,050 58,500 57,000 23,000 22,000 73,000 7,150 3,000 |
|---|---|---|
| 274,700 |
7 Support�costs
| Supportcosts | |||
|---|---|---|---|
| LEIfee Independentexaminer's fee Independentexaminer's fee prioryears' overprovison Auditfees Accountancy |
Support costs Governance costs £ £ - - - 2,310 - (2,070) - - - 2,000 - 2,240 |
2025Supportcosts Governance costs £ £ £ - - 33 2,310 - - (2,070) - - - - 7,800 2,000 - 2,000 2,240 - 9,833 |
2024 £ 33 - - 7,800 2,000 |
| 9,833 |
8 Net�(losses)�/�gains�on�investments
Revaluation�of�investments (Loss)�on�sale�of�investments
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2025 | 2024 |
| £ | £ |
| (388,734) | 607,384 |
| (18,846) | (167,145) |
| (407,580) | 440,239 |
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED) FOR�THE�YEAR�ENDED�5�APRIL�2025
9 Trustees�remuneration�and�benefits,�related�parties�and�conflicts�of�interest
None�of�the�trustees�(or�any�persons�connected�with�them)�received�any�benefits,�remuneration�or�reimbursed� expenses during�the�year,�or�the�previous�year.
None�of�the�trustees�(or�any�persons�connected�with�them)�had�any�conflicts�of�interest.� None�of�the�trustees�(or�any�persons�connected�with�them)�had�any�related�party�transactions�to�disclose.
No�further�disclosures�are�required�for�the�year.
10 Employees
There�were�no�employees�during�the�year,�or�the�previous�year.
11 Taxation
The�charity�is�exempt�from�taxation on�its�activities�because all�its�income�is�applied�for�charitable�purposes.�
| 12 Fixedassetinvestments Listed investments £ Valuation At6April2024 8,871,175 Additions 2,435,792 Valuationchanges (388,734) Realised(losses) (18,846) Cashavailabletoinvest - Disposals (2,468,280) At5April2025 8,431,107 At5April2024 8,871,175 Listedinvestments Cashininvestmentportfolio |
Cashin Total portfolio £ £ 104,380 8,975,555 - 2,435,792 - (388,734) - (18,846) 73,389 73,389 - (2,468,280) 177,769 8,608,876 104,380 8,975,555 2025 2024 £ £ 8,431,107 8,871,175 177,769 104,380 8,608,876 8,975,555 |
|---|---|
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
| 13 Debtors Amountsfallingduewithinoneyear: Otherdebtors Prepaymentsandaccruedincome 14 Creditors:amountsfallingduewithinoneyear Accrualsanddeferredincome Othercreditors |
2025 £ 4,203 5,124 9,327 2025 £ 15,010 - 15,010 |
2024 £ 361,443 5,238 |
|---|---|---|
| 366,681 | ||
| 2024 £ 21,900 273,280 |
||
| 295,180 |
15 Related�party�transactions
Katherine�Loyd�(a�trustee�of�the�charity)�is�also�a�trustee�of�the�CHK�Foundation�to�which�a�donation�of� £200,000�was�made�in�the�year.
There�were�no�other�disclosable�related�party�transactions�during�the�year,�or�previous�year.
| 16 | Cashgeneratedfromoperations | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| (Deficit)/surpusfortheyear | (664,114) | 382,505 | |
| Adjustmentsfor: | |||
| Investmentincomerecognisedinstatementoffinancialactivities | (198,234) | (261,626) | |
| Lossondisposalofinvestments | 18,846 | 167,145 | |
| Fairvaluegainsoninvestments | 388,734 | (607,384) | |
| Movementsinworkingcapital: | |||
| Decrease/(increase)indebtors | 357,354 | (5,239) | |
| (Decrease)/increaseincreditors | (280,170) | 9,433 | |
| Cashabsorbedbyoperations | (377,584) | (315,166) |
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
| 17 | Donationsmadeduringtheyear | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| AcornChildren'sHospice | 4,000 | - | |
| AdultLiteracyTrust | 2,000 | - | |
| AirAmbulance | 500 | - | |
| AllEarsInternational | 6,000 | 6,000 | |
| AllofUsVersusArthritis | 5,000 | - | |
| Alzheimer'sResearchUK | - | 5,000 | |
| AngusIrvinePlayingFieldsFund | - | 5,000 | |
| AuditoryVerbalUK | 10,000 | - | |
| BarnTheatreProject | - | - | |
| BartsCharity | 1,100 | - | |
| BeFreeYoungCarers | 5,000 | - | |
| BeesforDevelopment | - | 5,000 | |
| BlindVeteransUK | 5,000 | - | |
| BloodCancerUK | - | 5,000 | |
| BravoMedics | 2,000 | - | |
| BritishWirelessfortheBlindFund | - | 3,000 | |
| BroadwayLodgeLimited | 5,000 | - | |
| CampaignAgainstLivingMiserably | - | 5,000 | |
| CarersUK | - | 5,000 | |
| CHKFoundation | 200,000 | - | |
| CombatStress | - | 3,000 | |
| CoramLifeEducation | - | 5,000 | |
| CotswoldCanalsTrust | - | 4,000 | |
| CotswoldFriends | 20,000 | 25,000 | |
| CPRE,TheCountrysideCharity | 5,000 | - | |
| CriminonUK | - | 5,000 | |
| DeafblindUK | 5,000 | 5,000 | |
| DementiaResearchUK | 5,000 | - | |
| FareShare | 5,000 | 5,000 | |
| FarmAfrica | 5,000 | 5,000 | |
| FineCellWork | 5,000 | 20,000 | |
| GL11CommunityHub | 5,000 | - | |
| GloucestershireHistoricChurchesTrust | - | 500 | |
| GloucestershirePlayingFieldsAssociation | - | 2,000 | |
| Home-StartCotswolds | 5,000 | 5,000 | |
| IndependentAge | - | 5,000 | |
| IndependenceatHome | 5,000 | - | |
| IslandFarmDonkeySanctuary | - | 50 | |
| Kate'sHomeNursing | 5,000 | 5,000 | |
| KatherineHouseHospice | - | 5,000 | |
| ListeningBooks | 3,000 | 3,000 | |
| LongboroughCofEPrimarySchool | - | 5,000 | |
| LongfieldCommunityHospice | 5,000 | 10,000 | |
| MentoringPlus | - | 5,000 | |
| NorthCotswoldFoodbank | 5,000 | 5,000 | |
| NorthCotswoldsSchoolFederation | 6,000 | 7,500 |
Carried�forward
334,600
174,050
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�5�APRIL�2025
| Donationsmadeduringtheyear Broughtforward OracleCancerTrust Oscar'sPaediatricBrainTumourCharity PainReliefFoundation PETA PopulationMatters PumpAidBeyondWater PricklesandPawsHedgehogRescue Prisoners'AdviceService Prisoners'EducationTrust ReadEasy Revitalise RoyalHospiceofNeuroDisability RoyalSocietyforBlindChildren RSPB ShipstonHomeNursing SightResearchUK Sightsavers Stamma StJames'ChurchLongboroughPCC StLawrenceChurchBourtonontheHill StMichael'sHospice TeenageCancerTrust TheBigSpaceCancerAppeal TheCarersCentre TheGloucestershireSociety TheTheatre,ChippingNorton TheTrussellTrust TheUKVeteran'sHearingFoundation UNICEF VeteransIntoLogistics VolunteeringMatters ZANE |
(Continued) 2025 2024 £ £ 334,600 174,050 - 5,000 - 1,000 - 5,000 - 100 5,000 5,000 - 3,000 2,000 2,000 5,000 - 5,000 5,000 5,000 5,000 - 5,000 3,000 - - 3,000 3,000 - 5,000 3,000 2,000 - 5,000 5,000 - 3,000 5,000 5,000 4,000 11,500 1,000 - 2,000 - - 10,000 4,000 - 2,000 3,000 5,000 5,000 5,000 - - 10,000 5,000 50 3,000 - 3,000 3,000 5,000 3,000 418,600 274,700 |
(Continued) 2025 2024 £ £ 334,600 174,050 - 5,000 - 1,000 - 5,000 - 100 5,000 5,000 - 3,000 2,000 2,000 5,000 - 5,000 5,000 5,000 5,000 - 5,000 3,000 - - 3,000 3,000 - 5,000 3,000 2,000 - 5,000 5,000 - 3,000 5,000 5,000 4,000 11,500 1,000 - 2,000 - - 10,000 4,000 - 2,000 3,000 5,000 5,000 5,000 - - 10,000 5,000 50 3,000 - 3,000 3,000 5,000 3,000 418,600 274,700 |
|---|---|---|
| 274,700 |
17 Donations�made�during�the�year
MRS�SUSANNA�PEAKE�CHARITABLE�TRUST
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED) FOR�THE�YEAR�ENDED�5�APRIL�2025
18 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.
| Generalfunds Previousyear: Generalfunds 19 Cashandcashequivalents Cashatbankandinhand Cashavailabletoinvest |
At6April 2024 £ 9,409,555 At6April 2023 £ 9,027,050 |
Incoming resources Resources expended Gainsand losses £ £ £ 198,234 (454,768) (407,580) Incoming resources Resources expended Gainsand losses £ £ £ 261,626 (319,360) 440,239 2025 £ 142,248 177,769 320,017 |
At5April 2025 £ 8,745,441 |
|---|---|---|---|
| At5April 2024 £ 9,409,555 |
|||
| 2024 £ 362,499 104,380 |
|||
| 466,879 |