**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**<br>**Fixedassets**<br>Investments<br>**12**<br>**Currentassets**<br>Debtors<br>**13**<br>Cashatbankandinhand<br>**Creditors:amountsfallingduewithin**<br>**oneyear**<br>**14**<br>Netcurrentassets<br>**Totalassetslesscurrentliabilities**<br>**Incomefunds**<br>Unrestrictedfunds|**2025**<br>**£**<br>**£**<br>8,608,876<br>9,327<br>142,248<br>151,575<br>(15,010)<br>136,565<br>8,745,441<br>8,745,441<br>8,745,441|**2024**<br>**£**<br>**£**<br>8,975,555<br>366,681<br>362,499<br>729,180<br>(295,180)<br>434,000<br>9,409,555<br>9,409,555<br>9,409,555|**2024**<br>**£**<br>**£**<br>8,975,555<br>366,681<br>362,499<br>729,180<br>(295,180)<br>434,000<br>9,409,555<br>9,409,555<br>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:<br>EducationandChildren<br>LocalCharitableOrganisations<br>MedicalandHospices<br>ElderlyandDisabled<br>International<br>GeneralCharitableOrganisations<br>AnimalandEnvironment<br>ArmedForces|**2025**<br>**£**<br>31,100<br>36,000<br>49,500<br>5,000<br>21,000<br>258,000<br>10,000<br>8,000<br>418,600|2024<br>£<br>31,050<br>58,500<br>57,000<br>23,000<br>22,000<br>73,000<br>7,150<br>3,000|
|---|---|---|
|||274,700|



## **7 Support�costs** 

|**Supportcosts**||||
|---|---|---|---|
|LEIfee<br>Independentexaminer's<br>fee<br>Independentexaminer's<br>fee prioryears'<br>overprovison<br>Auditfees<br>Accountancy|**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>-<br>-<br>-<br>2,310<br>-<br>(2,070)<br>-<br>-<br>-<br>2,000<br>-<br>2,240|**2025**Supportcosts Governance<br>costs<br>**£**<br>£<br>£<br>-<br>-<br>33<br>2,310<br>-<br>-<br>(2,070)<br>-<br>-<br>-<br>-<br>7,800<br>2,000<br>-<br>2,000<br>2,240<br>-<br>9,833|2024<br>£<br>33<br>-<br>-<br>7,800<br>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**<br>**Fixedassetinvestments**<br>**Listed**<br>**investments**<br>**£**<br>**Valuation**<br>At6April2024<br>8,871,175<br>Additions<br>2,435,792<br>Valuationchanges<br>(388,734)<br>Realised(losses)<br>(18,846)<br>Cashavailabletoinvest<br>-<br>Disposals<br>(2,468,280)<br>At5April2025<br>8,431,107<br>At5April2024<br>8,871,175<br>Listedinvestments<br>Cashininvestmentportfolio|**Cashin**<br>**Total**<br>**portfolio**<br>**£**<br>**£**<br>104,380<br>8,975,555<br>-<br>2,435,792<br>-<br>(388,734)<br>-<br>(18,846)<br>73,389<br>73,389<br>-<br>(2,468,280)<br>177,769<br>8,608,876<br>104,380<br>8,975,555<br>**2025**<br>**2024**<br>**£**<br>**£**<br>8,431,107<br>8,871,175<br>177,769<br>104,380<br>8,608,876<br>8,975,555|
|---|---|





## **MRS�SUSANNA�PEAKE�CHARITABLE�TRUST** 

## **NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)** 

## _**FOR�THE�YEAR�ENDED�5�APRIL�2025**_ 

|**13**<br>**Debtors**<br>**Amountsfallingduewithinoneyear:**<br>Otherdebtors<br>Prepaymentsandaccruedincome<br>**14**<br>**Creditors:amountsfallingduewithinoneyear**<br>Accrualsanddeferredincome<br>Othercreditors|**2025**<br>**£**<br>4,203<br>5,124<br>9,327<br>**2025**<br>**£**<br>15,010<br>-<br>15,010|**2024**<br>**£**<br>361,443<br>5,238|
|---|---|---|
|||366,681|
|||**2024**<br>**£**<br>21,900<br>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**<br>Broughtforward<br>OracleCancerTrust<br>Oscar'sPaediatricBrainTumourCharity<br>PainReliefFoundation<br>PETA<br>PopulationMatters<br>PumpAidBeyondWater<br>PricklesandPawsHedgehogRescue<br>Prisoners'AdviceService<br>Prisoners'EducationTrust<br>ReadEasy<br>Revitalise<br>RoyalHospiceofNeuroDisability<br>RoyalSocietyforBlindChildren<br>RSPB<br>ShipstonHomeNursing<br>SightResearchUK<br>Sightsavers<br>Stamma<br>StJames'ChurchLongboroughPCC<br>StLawrenceChurchBourtonontheHill<br>StMichael'sHospice<br>TeenageCancerTrust<br>TheBigSpaceCancerAppeal<br>TheCarersCentre<br>TheGloucestershireSociety<br>TheTheatre,ChippingNorton<br>TheTrussellTrust<br>TheUKVeteran'sHearingFoundation<br>UNICEF<br>VeteransIntoLogistics<br>VolunteeringMatters<br>ZANE|**(Continued)**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>334,600<br>174,050<br>-<br>5,000<br>-<br>1,000<br>-<br>5,000<br>-<br>100<br>5,000<br>5,000<br>-<br>3,000<br>2,000<br>2,000<br>5,000<br>-<br>5,000<br>5,000<br>5,000<br>5,000<br>-<br>5,000<br>3,000<br>-<br>-<br>3,000<br>3,000<br>-<br>5,000<br>3,000<br>2,000<br>-<br>5,000<br>5,000<br>-<br>3,000<br>5,000<br>5,000<br>4,000<br>11,500<br>1,000<br>-<br>2,000<br>-<br>-<br>10,000<br>4,000<br>-<br>2,000<br>3,000<br>5,000<br>5,000<br>5,000<br>-<br>-<br>10,000<br>5,000<br>50<br>3,000<br>-<br>3,000<br>3,000<br>5,000<br>3,000<br>418,600<br>274,700|**(Continued)**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>334,600<br>174,050<br>-<br>5,000<br>-<br>1,000<br>-<br>5,000<br>-<br>100<br>5,000<br>5,000<br>-<br>3,000<br>2,000<br>2,000<br>5,000<br>-<br>5,000<br>5,000<br>5,000<br>5,000<br>-<br>5,000<br>3,000<br>-<br>-<br>3,000<br>3,000<br>-<br>5,000<br>3,000<br>2,000<br>-<br>5,000<br>5,000<br>-<br>3,000<br>5,000<br>5,000<br>4,000<br>11,500<br>1,000<br>-<br>2,000<br>-<br>-<br>10,000<br>4,000<br>-<br>2,000<br>3,000<br>5,000<br>5,000<br>5,000<br>-<br>-<br>10,000<br>5,000<br>50<br>3,000<br>-<br>3,000<br>3,000<br>5,000<br>3,000<br>418,600<br>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<br>**Previousyear:**<br>Generalfunds<br>**19**<br>**Cashandcashequivalents**<br>Cashatbankandinhand<br>Cashavailabletoinvest|**At6April**<br>**2024**<br><br>**£**<br>9,409,555<br>**At6April**<br>**2023**<br><br>**£**<br>9,027,050|**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Gainsand**<br>**losses**<br>**£**<br>**£**<br>**£**<br>198,234<br>(454,768)<br>(407,580)<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Gainsand**<br>**losses**<br>**£**<br>**£**<br>**£**<br>261,626<br>(319,360)<br>440,239<br>**2025**<br>**£**<br>142,248<br>177,769<br>320,017|**At5April**<br>**2025**<br>**£**<br>8,745,441|
|---|---|---|---|
||||**At5April**<br>**2024**<br>**£**<br>9,409,555|
||||**2024**<br>**£**<br>362,499<br>104,380|
||||466,879|