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2021-04-05-accounts

MARSH CHRISTIAN TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

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MARSH CHRISTIAN TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees B Marsh OBE
N Collings
A Marsh
C Kenyon
C Micklewright
N H Carter
A Foulk
Charity Number 284470
Principal address 5th Floor
4 Matthew Parker Street
London
SW1H 9NP
Auditors Bowker Orford
15/19 Cavendish Place
London
W1G 0DD
Bankers Lloyds Private Banking
Mayfair
50 Grosvenor Street
London
W1X 9FH
Investment advisors Rathbone Investment Management Ltd
8 Finsbury Circus
London
EC2M 7AZ
Rothschild Wealth Management (UK) Ltd
New Court,
St Swithin's Lane
London
EC4N 8AL

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MARSH CHRISTIAN TRUST

CONTENTS

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Page
Trustees' report 1-9
Statement of Trustees' responsibilities 10
Independent auditors' report 11-13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16-43

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

The trustees present their report and accounts for the year ended 5[th] April 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's governing document, the Charities Act 2011 and the Charities SORP (FRS 102) – Accounting and Reporting by Charities Statement of Recommended Practice 2019.

Structure, governance and management

The trust is an unincorporated trust established by a Deed of Trust on 12 May 1981. The terms of the trust require funds to be applied for charitable purposes.

The trustees who served during the year were:

The power to appoint trustees is vested in the settlor of the trust, Brian Marsh OBE, but the appointment of any new trustees is something which is decided and approved by all existing trustees. New trustees undergo training on their legal obligations under Charity Law, the decision-making processes, the business plan and recent performance of the trust.

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. The trust is administered on a daily basis by the settlor Brian Marsh OBE, the trust manager Annie McCarthy and administrative assistant Heather Crombie.

In March 2012, a trustees’ resolution was passed whereby the trustees appointed a committee of trustees to approve non-routine operational, governance and commercial decisions on behalf of the trustees, so long as the rest of the trustees have been duly informed, and no objection has arisen. The trustees have agreed that Brian Marsh OBE and Alice Foulk would be appointed to the committee. The membership of the committee is approved at each annual trustee meeting.

The trustees consider the activities of the trust on a quarterly basis but individual trustees maintain regular contact with the staff. The accounting function is carried out by the trust's administrators and Bowker Orford Accountants and Business Advisers. The trust is related to B P Marsh & Company Limited where Brian Marsh OBE, the settlor and a trustee, is a director and Chairman. Mr Marsh also controls that company. The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to major risks.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

The trust's principal activities are financed by income derived from its investment portfolio consisting of quoted and unquoted investments. The investment portfolio is managed on an advisory basis by two firms of investment managers.

Objectives and activities

The trust deed allows the trustees to make donations to support any objects which are charitable under the law of England and Wales.

Values and mission

The trust believes in supporting existing organisations and people who are striving to make a difference. Its aim is to contribute to and promote the excellent work which is being undertaken across the charity sector.

The trustees have decided to do this by focusing the trust’s activities on two main areas of charitable activity; grant-making, providing long-term core funding to small charities, and the Marsh Awards, recognising individuals and groups committed to social, cultural and environmental causes.

The trust values long term partnerships with the organisations it supports and partners with, and aims to develop these over time in both areas of activity.

Grant-making

The trust provides modest financial support to charities in the form of annual grants. The trust focuses particularly on providing funding which could help small organisations pay for running costs, such as volunteer expenses, training days, equipment and maintenance and other core outgoings. The trust’s funding strategy is to provide unrestricted, long-term, core funding, as the trust recognises that many of the organisations it supports depend on unrestricted income in order to meet their operating needs.

The trustees maintain a strong interest in various areas of work, mainly:

Donations are made from the funds available to the trustees. Unused funds are invested in a wide range of investments as permitted by the trust deed.

The trustees will only make grants to registered charities experienced in their chosen field of work and never to individuals. No funding is provided for building or restoration work or to individual churches, hospices or hospitals.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

The trustees do not support single projects or sponsorship proposals. Long-term core funding of appropriate works is the trust's normal approach, making donations on an annual basis, subject to yearly resubmission and review. The size of donations usually ranges from £400 to £2,000, with new successful applications starting at the lower end of the scale.

The trustees have considered the application process in line with the size of the grants provided and therefore only require a full copy of the applicant’s report and accounts, alongside a cover letter. This ensures that the trustees have the relevant information needed to assess the application but also that applicants do not have to spend unnecessary time filling out a large amount of documentation.

Applications are processed on an on-going basis and a response is usually sent within two months of receipt. However, due to the high volume of applications, occasionally responses to new appeals may take longer.

Upon receipt, applications are divided into two groups: new appeals and renewals and are given to a monthly grants committee for consideration. Renewals (organisations which have already received the trust’s support in the past) are considered first and then the new appeals are considered afterwards.

Each application is considered on the basis of the organisation’s financial position, performance against charitable aims and objectives, the ratio of voluntary income against fundraising expenses, and the suitability of the application to the type of funding the trust provides.

A response is made to every appeal whether it is successful or not. If an application is unsuccessful, there are no time restrictions within which a further application can be made.

The Marsh Awards

As a result of the trust’s work with numerous charities, it has seen first-hand how influential volunteers and the people who work with charitable organisations can be. A consequence of this has been the creation of the Marsh Awards Scheme.

The Marsh Awards celebrate the outstanding contributions of people who are committed to social, cultural and environmental causes. The Awards recognise people who are at the heart of the charity sector and who voluntarily or professionally go above and beyond to make a difference.

The Awards are run in partnership with other charitable bodies. Although each Award is administered slightly differently to suit each partner organisation, in most cases nominations are collected by the partner charity and a shortlist is put forward to an independent judging panel, ensuring complete impartiality and giving further value to the recognition of the winners.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

Recipients of Marsh Awards are a diverse group of people, ranging from scientists working in conservation biology and ecology, to practitioners from the arts world, from those working to conserve heritage, to those working with communities, young people and individuals affected by social inequalities and ill health.

The Marsh Awards Scheme now consists of over 215 different Awards run across the areas of social welfare, conservation and ecology, the arts and heritage. Full details of the Awards can be found on the trust’s website.

Public benefit

The trustees have regard to the Charity Commission's guidance on public benefit in planning charitable activities, in setting grant-making policies and in making grants and Awards. As a result, the trustees are confident that the trust has achieved diverse public benefit for a number of groups across the UK.

A wide range of public benefit is provided by the hundreds of charities the trust supports each year through its grant programme, as they work to alleviate need and distress, and help people to lead more fulfilling lives. The individuals recognised through the Awards Scheme are at the heart of important social, cultural, and environmental causes. The Awards raise awareness of these causes and of people’s power to make a difference.

Volunteers

The trust recognises the importance of volunteers’ contributions from across the sector. 173 of the trust’s 215 Awards recognise the contributions of the sector’s invaluable volunteers.

The trust itself depends on the contributions of 12 dedicated volunteers who act as Ambassadors for the trust, representing the trust at Award presentations and on charity visits. The trust is deeply grateful for their contributions as they add value to its work and partnerships whilst allowing the trust to grow its number of Awards.

Achievements and performance

During the financial year ending 5th April 2021, the trust made a similar number of grants and Awards to the previous year. During the year the trust supported 152 new charities, predominantly in the field of social welfare, although charities working in conservation, heritage and education were also supported. Existing grantee partnerships were maintained and developed further, as is part of the trust’s long-term core funding strategy, making the total number of grants made during the year circa 445.

In addition to the trust’s grant-making activities, over 200 individuals and groups were recognised through regional and national Awards. The trust developed its Awards with 7 of its existing partners. Additional Awards were presented in partnership with the Arts Society, and Engage, while schemes with Barnardo’s and the Heritage Crafts Association were altered slightly to better reflect the work taking place in these organisations.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

Existing Award schemes with Council for British Archaeology, Kent Wildlife Trust and St Mungo’s were expanded to have a wider reach and recognise even more volunteers who had shown commitment through what was a difficult year. The inaugural Marsh Volunteer Awards with the Prison Advice and Care Trust were also presented.

It would be impossible to run these Awards without the commitment and input of partner charities and the trust thanks them for their work and support in making these Awards happen.

Financial Review

The trustees endeavour to increase the trust’s charitable giving each year in response to the sector’s needs. Total grants and Awards amounted to £353,711 (£304,868 – 2020). All grants and Awards were made within the objectives of the trust, and details of those made in the year are disclosed in notes 7 and 10 to the accounts. The additional costs associated with providing these grants and Awards amounted to £152,483 (£160,885 – 2020), bringing the total charitable expenditure of the trust to £506,194 (£465,753 – 2020). Full details of these costs are disclosed in note 5 to the accounts.

The trustees regularly review the investment portfolio and level of reserves held by the trust. From an original investment of £75,000 in 1981, the trustees have succeeded in generating a capital base of circa £16,841,065 which is invested to produce suitable returns to fund its work, balanced with achieving long-term capital growth of its assets. In the opinion of the trustees, the reserves held represent a sufficient, but not excessive, income generating base that will ensure that the Marsh Christian Trust is able to continue to fulfil its charitable objectives for many years.

During the year, the trustees were fortunate to receive charitable gifts, in the form of shares, amounting to the sum of £640,900 from Brian Marsh OBE. These gifts have allowed the trust to once again increase its charitable activities in both grant-making and the Awards Scheme.

Investment Reports

Rothschild

From 6th April 2020 to 5th April 2021, the Marsh Christian Trust portfolio returned +34.5%. This compares favourably with the portfolio’s return objective (inflation +3%), which returned +4.5% over the same period. During the 12 months in review, £190k was withdrawn from the portfolio in three equal parts in June, September and December of 2020.

Equity and commodity markets were exceptionally strong over the period and ended the tax year well above pre-pandemic levels. Unprecedented global levels of monetary and fiscal stimulus supported strong economic growth and bolstered investor sentiment as countries came out of lockdown. The rollout of COVID-19 vaccination programmes around the world further added to this optimism. World Equity markets returned +59.6% (in local currency terms) in the 12 months. Energy prices surged – the price of Brent Crude Oil in USD increased +82.2% and Global Commodities increased +38.5%. Volatility subsided from its pandemic highs whilst central banks and capital markets kept a close eye on inflationary concerns.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

The Marsh Christian Trust’s holdings performed well over the period. The Return Assets, which consist of companies and funds, outperformed World Equity markets and returned +76.1% in the period (contributing +46.5% to performance). As expected during a period of rising markets, the Diversifying Assets detracted from performance, returning -7.8% (contributing -2.9% to performance). It is worth noting that the Diversifying Assets contributed +4.2% in the first quarter of 2020, offsetting almost a quarter of the losses elsewhere in the portfolio.

Throughout the year, we focused on maintaining the level of protection and diversification in the portfolio by investing in new Diversifying strategies that offer an attractive combination of ‘carry’, ‘convexity’ and certainty of pay out. Please find a short summary of these below:

It is also worth noting that the Marsh Christian Trust portfolio has returned +6.3% in the 2021/2022 tax year (as at 31st October 2021), as markets and economic growth have remained resilient.

Whilst economic growth is set to slow in the year ahead, this will be from an above-trend growth rate, and business surveys suggest some rebound is possible for the remainder of 2021. Inflation risk remains very visible even as the initial “transitory” spike subsides. Central banks are allowing economies to “run hot” for a while, but monetary policy is poised to start normalising, led by the Bank of England and the Federal Reserve.

Rathbones

The year from the 6th April 2020 was very different from the preceding one. The markets started rallying from just before the start point and continued to do so the whole year. The result was that the UK FTSE 100 market increased by 28% over the year in total return terms. Whilst many international markets reached 5th April 2021 higher than ever the UK markets did not regain the highs seen before the Pandemic started. Nevertheless, the result was still a very good turn around given the Covid pandemic and what seemed like the total shutting of the world’s economies in the various lockdowns.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

The markets, looking ahead as always, thought that the pandemic was not going to be quite as dire as the commentators were saying at the time. The efficient rollout of a vaccine and its uptake gave additional reassurance to markets that the world would not come to an end. This coupled by the fact that economic activity kept going throughout the lockdowns at a higher pace drove the share prices higher in the majority of markets.

Overall, the year to 5th April 2021 saw the FTSE All Share rise 26.7.5% (Total Return), FTSE 100 up 21.9% (Total Return) and bond index down 5.5% (Total Return). Against this the MCT portfolio was up 20.6% (Total Return). The dividend income over the year whilst down did not completely dry up as was feared at the start of the year and at the time of wright the last report. Some companies like Shell took the opportunity to cut its dividend and HSBC suspended its dividend for the year, other companies held or slightly increased their pay-outs. Some normality has now returned to dividend payments, it will however be a further year before the full effects of the Covid crisis become clear with regards to ongoing dividend payments. In December 2020, the Trust was expecting dividends from the portfolio to be approximately £327,000, however we are now expecting them to be nearer to £310,000 (November 2021).

The Trust has some £280,000 of accumulated income available at the time of writing. This with the already distributed £140,000 should mean that the Trustees can maintain the levels of distribution for the current year. The Trustees can also be more confident about the levels of dividend income than a year ago. However as already stated it will be at least a further year before we are back to a new normal and what that will look like.

Markets are now starting to look at the aftereffects of the Pandemic with rising inflation, shortages of workers and fragility of the global supply chains. These concerns along with the aftermath of Brexit and the consequences of Mr Biden’s win in the US presidential election will focus minds in the months to come.

Investment policy

The trustees consider the trust's investments as an integral and important part of its future sustainability and the fulfilment of its charitable objectives. The investment of its permanent endowment allows the trustees to maintain and grow the capital value of the funds in order to generate and increase income to continue and develop its charitable activities.

The trust follows a total return investment policy whereby funds are invested for capital growth as well as for income. In recent years, the trustees have placed a greater emphasis on seeking dividend income rather than drawing down capital.

Reserves policy

The trust does not run a specific reserves policy as, effectively, the whole endowment portfolio could be available to act as a reserve. In practice the budget is set to provide an annual carry forward surplus in the region of c. £500,000, which equates to c.12 months of average monthly expenditure, which could be regarded as a reserve in the event of any unexpected payments. Additionally, the trust maintains sufficient cash reserves, which would allow the trust to cover any immediate overheads in the unlikely event that the trust’s investment portfolios collapse.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

________________

Risk management

The trustees formally review risk on an annual basis as well as when issues arise.

The trustees have reviewed areas of potential risk for the charity. One of the key risks identified is that of substantial investment losses. The charity has a diversified investment portfolio and processes in place to monitor cash flow and spending, which should minimise the potential for long term losses.

The trust also considers the sustainability and reliability of the organisations to which it makes grants to and enters into partnership with, in order to run the Awards.

The trust continues to adhere to the General Data Protection Regulation and processes data in a manner that minimises any risk in this area.

Evidence and Impact

The trust is keen to be better able to evidence and evaluate the impact of its activities. The grants programme is evaluated according to feedback from both longstanding and new grantees. The trust also makes use of broader research on funding and grant-making relationships in order to consider its funding strategies in a wider context. As there continues to be a scarcity of unrestricted funding in the sector, the trust will continue its current funding model.

The trust holds annual meetings with each of its Award partners to review the impact of the Awards. At these meetings impact is considered from the perspectives of the Award winner, the partner organisation, and the field in which they are operating. Necessary changes are considered on an annual basis, in order to maximise the impact of the Awards.

The trust is improving its systems to record and evaluate the impact of its activities going forward.

Covid-19

The trust, like many other charitable organisations, was impacted by the outbreak and subsequent restrictions of Covid-19. The administration of the trust moved from being officebased to working remotely and the trust adapted its policies and practices to fit this new way of working with minimal disruption.

As mentioned earlier in this report, the trust’s investments suffered some initial losses as markets fell in response to the outbreak but have since recovered.

The trust responded to more grant applications than usual due to the impact that the outbreak of Covid-19 had on the sector, with more organisations seeking and needing vital support from grant-makers. While some Awards were unable to take place as usual, the trust endeavoured to continue the work being done through these relationships by making presentations online and adapting the criteria for the Awards in some cases to recognise those who went above and beyond for their organisation during such a difficult year.

PAARSH CHRISTIAN TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2021 Future aGtivlty In IvJht of the gifts receibtd by the trns( the twsiees ha4¢ inueased the trusfs monthty giant- making l￿dgeL from £30.(KIO to ￿Und £31.CKM), n order to maxfimise its th¥itable expenditure_ It is the t￿S ffission to continue lo support and prorTh)te the work of thafities arKI the people behind them. The grants prcJramme is developed e&h year and fccuses on building on longslaTrJing gr￿t￿ relationships arKI debebpiTr3 new r)nes. Each month circa 10 new organisatiorts are supportgd. and this ￿11 c¥)ntinue over the ￿xt y￿. Award partnerships ￿ntinue to tE develoFe(I, and the comirwJ year will see a new partnership th the Brits"sh EntomolcgKal Natural H￿ry Sou"ety ¥thich viill recognise an established entomolc3i5t at any stsje of their exeer. The trust will be d￿￿Ping its existig P￿tr￿s1¥P the wi￿lÈfe Trusts to re(v3nise members of staff shthv inrNMtion thrDugh lethhip to promote nature conservabon and Memb￿ of staff have d￿mpiOned nabJre conservation through lership behind the nes. The trusl will also tE remtr(Xl￿Jng rts rxevious Awards excellence in public sculpture aNI fountsins With the nth￿y frKmed F*Jbl￿ stat￿ 8rMJ Sculpture A$swat￿n. It to be a gcw)J year for devdopment in tTUSt and as aPways. il remains open to idaas for ne•1 Awards ￿th e>isbng arKt rp4V ￿rtnerS On behalf ofthe Board (rfTn Brian Marsh OBE Trustee Dalgj..

MARSH CHRISTIAN TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

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The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the trust and of the surplus or deficit income and expenditure of the trust for that period

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the trust’s transactions and disclose with reasonable accuracy at any time the financial position of the trust and that 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.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

MARSH CHRISTIAN TRUST

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MARSH CHRISTIAN TRUST

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We have audited the financial statements of Marsh Christian Trust for the year ended 5 April 2021 set out on pages 14 to 43. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditors

As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of financial statements which give a true and fair view.

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB’s) Ethical Standards for Auditors.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

As part of designing our audit, we determined the materiality level and assessed the risks of material misstatement in the financial statements, including how fraud may occur, by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.

MARSH CHRISTIAN TRUST

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MARSH CHRISTIAN TRUST (CONTINUED)

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We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charity's circumstances and have been consistently applied and adequately disclosed, the reasonableness of significant accounting estimates made by the trustees and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

MARSH CHRISTIAN TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF MARSH CHRISTIAN TRUST (CONTINUED) Matters on whlch we are required to report by Oxceptlon We have nothing lo report in respect of the fdlowiry matters where the Charities Act 2011 requires us to report to you rf, in our opinion.. the infomialion given In the Trustees. Annual Report is inconsistent in any material respect with the financial statements., or sUffI￿ent accounting records have not been kept; or the financial statements are not in agreem8nl with the accounting records and returns; or have not r￿eNed all the information and explanations we require for our audil. Rashpal Parmar FCA Senior Statutory Auditor Bowker Orford 15119 Cavendlsh Place London W1G ODD D8téd: ￿ 3 T¢wM. 13-

MARSH CHRISTIAN TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2021

________
Notes
Incoming resources from generated funds
Donation and legacies
3
Investment income
4
Total incoming resources
Resources expended
Costs of generating funds
Investment management costs and other
management charges
Net incoming resources available
Charitable activities
Social welfare
Arts and heritage
Environmental causes and animal welfare
Healthcare and medical research
Education and training
Total charitable expenditure
Governance costs
Write-off adjustment
Total resources expended 5
Net (outgoing)/incoming resources before
Transfers
(
Gross transfers between funds

Net (outgoing)/incoming resources
(
Other recognised gains and losses
Gains/ (losses) on investment assets

Net movement in funds
(
Fund balances at 6 April 2020

Fund balances at 5 April 2021
 ____
Income
Funds
£
-
314,599
314,599
35,791
278,808
308,293
86,620
70,080
27,005
14,196
506,194
3,475
(8,608)
536,852
222,253)
-
222,253)
-
222,253)
438,649
216,396		 _______
Capital
Funds
£
640,900
-
640,900
35,791
605,109
-
-
-
-
-
-
3,475
-
39,266
601,634
-
601,634
4,015,379
4,617,013
12,233,491
16,850,504		 ___
Total
2021
£
640,900
314,599
955,499
71,582
883,917
308,293
86,620
70,080
27,005
14,196
506,194
6,950
(8,608)
576,118
379,381
-
379,381
4,015,379
4,394,760
12,672,140		 _
Total
2021
£
640,900
314,599
955,499
71,582
883,917
308,293
86,620
70,080
27,005
14,196
506,194		 ___

Total

2020

£
1,064,000
412,302
1,476,302
80,368
1,395,934
241,610
101,114
92,398
16,881
13,750
465,753
17,610
(13,200)
550,531

925,771

-

925,771
(3,007,883)

6,950
(8,608)
576,118

(2,082,112)
14,754,252
**17,066,900 ** 12,672,140

_____________ - 14 -

MARSH CHRISTIAN TRUST BALANCE SHEET AS AT 5 APRIL 2021 2021 2020 Fixod asets Intsngibk fued assets Tangl￿e f￿1 a&%ets Inveslments 3.360 2,498 6,720 12 12 370 24 12.376.968 16.846.923 Debtors". amounts fatmg due ()e y Cash at bank atKt ￿ hand 13 895 211 436.145 CrnditOYS: 4moiints falling wlthln one year 14 Net currnFrt assets Total avets 1•s8 eurr¢rt Ilabthi?• Unigstricted fwbjs: Capital knds 16.85OA 12.233,491 In(xJmè fvrKts Thg r￿n￿al statsmwts were bytre trustees aa . i .* Brian Marsh OBE Trustse 15-

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

1.1 Basis of preparation

The financial statements have been prepared on the historical cost convention. The financial statements are in accordance with Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" and the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The presentation currency of the financial statements is the Pound Sterling (£).

1.2 Incoming Resources

All incoming resources are recognised once the trust has entitlement to the resources and it is certain that the resources will be received and monetary value of incoming resources can be measured with sufficient reliability.

Assets for distribution are recognised only when distributed. Assets given for use by the trust are recognised when receivable.

Investment income represents dividends and interest receivable from investments.

1.3 Resources expended

Expenditure is recognised when a liability is incurred, which is when there is a legal or constructive obligation committing the trust to the expenditure. All the expenditure is accounted for on an accruals basis.

The costs of generating funds consist of investment management and custodian fees, together with other management charges incurred.

Charitable activities include donations and awards payable to third parties in the furtherance of the charitable objectives of the trust and include both direct costs and support costs relating to these activities.

Governance costs include those incurred in the governance of the trust and its assets and primarily associated with constitutional and statutory requirements.

Support costs include central functions and have been allocated to activity cost categories on the basis of donations and awards made to each of those activities in recognition of the cost of awarding, monitoring and assessing the donations and awards.

_____________ - 16 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

1.4 Fixed asset investments

Unquoted investments are stated at fair value. Quoted investments are valued at the Stock Exchange closing mid-price at 5 April each year.

Current asset investments are valued at the lower of cost and net realisable value.

Realised gains and losses are recognised on the disposal of investments. Unrealised gains and losses are based on the market value of investments at the balance sheet date.

1.5 Pensions

The trust operates a defined contribution pension scheme. Contributions are charged in the financial statements as they become payable in accordance with the rules of the scheme.

1.6 Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probably that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

1.7 Fixed intangible assets

Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated impairment losses. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Website – 5 years on a straight line basis from the year of acquisition. Computer equipment – 5 years on a straight line basis from the year of acquisition.

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

1.8 Going concern

Since 31 December 2019, the spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for a long or indefinite periods of time. In the UK this began on 23[rd] March 2020. Measures taken to control the spread of the virus, including travel bans, quarantines, social distancing and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Governments and central banks have responded with monetary and fiscal interventions to stabilise the economic condition. Marsh Christian Trust is likely to be affected in the form of loss on return on investments, however this will not significantly impact the entity’s position.

The trust has determined that these events are non-adjusting subsequent events. Accordingly, the financial position and results of operations as of and for the year ended 5 April 2021 have not been adjusted to reflect their impact. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central banks responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the trust for future periods.

The trustees, having undertaken various assessments, are of the opinion that the trust is a going concern.

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

2
Cost
At 6 April 2020
Additions

At 5 April 2021
Amortisation/Depreciation
At 6 April 2020
Charge for the year
At 5 April 2021
Carrying amount
At 5 April 2021
At 5 April 2020
3
Donations and legacies
Donations and gifts		 Intangible Tangible
Fixed assets Fixed assets
£
£
16,800
-
-
3,122
16,800
3,122
10,080
-
3,360
624
13,440 624
3,360
2,498
6,720
-
2021
2020
£
£
640,900
1,064,000

Gifts in kind represents donations by Brian Marsh OBE of £640,900 (2020 - £1,064,000) comprising gifts in the form of shares. These have been included at market value at the date of gift as incoming resources to the capital fund for the year.

4
Investment income
Income from listed investments
Income from unlisted investments
Interest receivable		 2021
£
285,130
8,978
20,491
314,599		 2020
£
373,194
37,189
1,919
412,302

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

5 Total resources expended

Direct
Charitable
Activities
Cost of
Generating Donation/
Support Governance
Funds
Grants
Awards
Costs
Costs
£
£
£
£
£
Donations/grant payments
254,861
Award payments
98,850
Staff cost
23,148
55,252
63,148
Other Costs
Investment managers fees
34,382
Management fees
37,200
Annual review costs
4,112
Books, paper & subscriptions
61
Website costs
62
Software maintenance
278
Travel
707
Printing & Stationery
1,357
Bank charges and Interest
374
Training
350
Audit fees
6,600
Write-off adjustment
(8,608)
Depreciation
624
Website amortisation
3,360
Total other costs
71,582
6,823
4,112
-
(1,658)
Total resources expended
71,582
284,832
158,214
63,148
(1,658)		 Total
£
254,861
98,850
141,548
34,382
37,200
4,112
61
62
278
707
1,357
374
350
6,600
(8,608)
624
3,360
80,859
576,118

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

_______________

5 Total resources expended (continued)

Investment management costs include administration charges charged by B P Marsh & Company Limited (see note 17) together with investment management fees and other management charges.

The Trust apportions support costs between the difference areas of interest undertaken. Support costs are allocated on a basis consistent with the use of resources.

6 Grants payable

Awards Donations
£
£
Social & welfare
30,130
185,295
Arts and heritage
31,760
28,767
Environmental causes and
animal welfare
36,960
12,009
Healthcare and medical research
-
18,870
Education and training
-
9,920
98,850
254,861		 Total
2021
£
215,425
60,527
48,969
18,870
9,920
353,711		 Total
2020
£
158,151
66,186
60,481
11,050
9,000
304,868

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations Registered 2021 2020
Charity No £ £
4-Sight 1075447 - 400
999 Club 1091077 - 450
A Breath for Life 1069697 400 -
A Rocha UK 1089276 600 -
Abbey Road Centre 1047314 300 -
Abbeyfield Reading Society 233423 3,000 1,400
Accessible Coach Holidays 1114985 300 -
Acid Survivors Trust International 1154961 300 -
Action on Poverty 290836 1,000 -
Addaction 1001957 - 500
Advance Brighter Futures 1089638 350 -
African Conservation Foundation 1120705 350 300
African Enterprise 278704 450 -
Agnes Smith Advice Centre 1050456 450 400
ALD Life 1106008 - 400
ALICE (Relief of Poverty Advancement of
Community) 1148385 - 400
All Saints Landmark Centre 1093667 300 -
All Saints Youth Project 1136158 450 400
Amphibian and Reptile Conservation 1130188 - 650
Anaphylaxis Campaign 1085527 550 -
Archives & Records Association 1041063 360 360
Arena Community 1115569 300 -
Artlink 1091217 - 350
Ascend 1073909 675 -
Assist Ministries Overseas 350 300
Asylum Welcome 1092265 550 500
Attend 1113067 500 -
Autism Inclusive 1162587 300 -
Autistic Society Greater Manchester Area 1089527 500 -
AVID 1156709 650 -
A Way Out 1137535 - 400
Ballet Rambert Ltd 326926 350 250
Barn Owl Trust 299835 - 700
Barnabus 1174410 950 850
Barnes Music Society 248878 600 550
Barons Court Project 296034 - 600
Barrow & District Disability Association 513162 500 -
BASIC 518806 - 350
Basildon Community Resource Centre 1082442 600 550
Bat Conservation Trust 1012361 - 450
Beating Time 1158013 - 400
Beaulieu Community Trust 1169335 500 -
Beckton Skills Centre 1152580 - 400

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered Registered 2021 2020
Charity No £ £
Befriending Lewis SC041459 300 -
Bendrigg Trust 508450 500 -
Bibic 1057635 900 -
Bible Reading Fellowship 233280 1,000 -
Bibles for Children 1187754 750 700
Big Brum Theatre in Education Company 514071 - 350
Bikes for Refugees SC047302 400 -
Bipolar Scotland SC021705 - 400
Birmingham City Mission 1051023 1,000 900
Birmingham Royal Ballet 1061012 600 500
Birmingham Settlement 517303 600 550
Blind in Business 1011957 550 500
Boaz Trust 1110344 700 700
Bolton Lads and Girls Club 1051292 550 500
BOSP 1107392 500 400
Botanic Gardens Conservation International
1098834		 - 500
Braintree Youth Project Charity 1139014 400 -
Branches 1086888 300 -
Brandon Centre 290118 - 1,100
Breck Foundation 1168384 350 -
Brecon and District Disabled Club 519457 - 500
Brighton and Hove City Mission 1111067 550 550
British Acoustic Neuroma Association 1165065 450 -
Bristol Children's Help Society 1092921 500 500
British Blind Sport 1168093 750 700
British Council for Prevention of Blindness 270941 400 -
British Hedgehog Preservation Society 326885 50 50
British Hen Welfare Trust 1147356 700 -
British Liver Trust 298858 400 -
British Museum 1086080 8,000 8,000
British Polio Fellowship 1108335 300 -
British Thyroid Foundation 1006391 400 350
British Tinnitus Association 1011145 400 -
Brunswick Organic Nursery 1010178 500 -
Building Blocks Family Centre 1101314 300 -
Bumblebee Conservation Trust 1115634 600 550
Butterfly Conservation 254937 - 1,500
Calibre Audio Library 286614 900 -
Cambridgeshire Deaf Association 1062578 400 350
Campaign for National Parks 295336 800 -
Campaign to Protect Rural England 1089685 400 -
Camphill Village Trust Limited 232402 - 600
Cam Sight 201640 - 350
Canaan Project 1110403 - 400

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Capital Mass 1159501 400 -
Cardinal Hume Centre 1090836 900 800
Care and Repair Edinburgh SC023790 400 -
Care for the Carers 1074906 500 400
Care for Veterans 1072334 800 700
Carer Support Wiltshire 1092762 400 -
Carers in Bedfordshire 1135507 400 -
Carers Network 1097723 400 -
Carers UK 246329 - 350
Caritas Anchor House 1147794 500 450
Carousel Project 297201 400 350
Cavendish Cancer Care 1104261 500 -
CCLASP SC047235 500 -
Cecily’s Fund 1071660 400 -
Centre Ministries 528419 400 -
Cerebral Palsy Plus 1070079 600 -
Chamwell Centre 1162321 300 -
CHAT 293787 - 500
Chatham Historic Dockyard Trust 292101 1,000 900
Cherished Memories 1097465 - 450
Chester le Street and District Voluntary
Welfare Committee 506649 - 400
Child Autism UK 1063982 300 -
Child Bereavement UK 1040419 - 400
Children and Families Across Borders 1085541 400 350
Chiswick House Friends 289907 30 30
Choices Islington 1124209 450 400
Christian Blind Mission 1058162 - 500
Christian Mercy Foundation Overseas 500 -
Christians Against Poverty 1097217 4,650 1,500
Church Action on Poverty 1079986 800 700
Church Mission Society 1131655 1,000 900
Church Urban Fund 297483 500 -
Churches Housing Action Team 1049478 400 -
Cinnamon Network 1156985 550 -
Classics for All 1135379 300 -
Clean Rivers Trust 1037414 - 800
Cleft Lip and Palate Association 1108160 450 400
Climbing Out 1145023 350 -
Clock Tower Sanctuary 1146777 700 -
Clonter Farm Music Trust 1083903 700 600
Clothing Solutions for Disabled People 1120118 800 700
Coach in the Community 1123301 - 300

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021
____________
7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Cockpit Arts 1029643 500 -
Cogwheel Trust 1157141 1,100 1,000
Community Drug and Alcohol Recovery
Service 1028663 300 -
Compaid Trust 1064160 900 800
Connect North Korea 1176563 500 -
Connection at St Martin-in-the-Fields 1078201 3,000 700
Contact A Family 284912 550 550
Cotteridge Church Day Centre 1143091 500 450
Council for British Archaeology 287815 1,000 1,000
Coundon Care at Allesley Park 1170172 - 900
CPAS 1007820 600 -
Create Recovery 1158885 300 -
Creative Living Centre 1064628 300 -
CREATIVenergie SC047910 400 -
Criminon UK 1098120 700 600
Crossroads Counselling 1043304 500 -
Cruse Bereavement Care Scotland SC031600 500 -
Crystal Palace Museum 293693 - 400
Cued Speech UK Limited 279523 1,000 1,000
Cystic Fibrosis Trust 1079049 500 -
Dame Vera Lynn Children’s Charity 1089657 550 -
Dandelion Time 1136613 450 -
Dartmouth Caring 900226 450 350
Daventry Contact 1002659 700 600
Dementia Adventure Trust 1163163 350 300
Dementia Support 1158640 450 350
Dementia Together Wirral 1179533 500 -
Dentaid 1075826 300 -
Deptford Action Group for the Elderly 269672 450 400
Derventio Charitable Trust 1142979 400 -
Different Strokes 1092168 750 700
Disability Advice Service 1152772 400 -
Disability Information Service Huntingdonshire 1061702 - 400
Disabled Sailors Association 1028993 300 -
Disabled Workers Cooperative 1112402 550 500
Discovery 1053115 - 550
Dog Assistance in Disability 1178719 300 -
Dogs Friends 1129794 - 400
Dorset Youth Association 306009 - 350
Down Syndrome Development Trust 1155830 500 -
Dressability 1102083 450 400
Droitwich AED 1171993 - 400

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Dudley Canal and Tunnel Trust 1166460 350 -
Dyspraxia Foundation 1058352 650 -
East Northants Community Services 1154210 400 -
East Riding Voluntary Action Services 1121190 350 -
East Sussex Vision Support 209535 400 -
Easton Community Centre 1151133 - 350
ECPAT UK 1104948 300 -
Elmbridge Rentstart 1156746 500 -
Emmanuel Coffee Shop 1119535 300 -
Emmaus Transformation Trust 1069902 400 -
Encephalitis Support Group 1087843 400 -
Engage 1087471 1,483 2,052
English Heritage Trust 1140351 84 78
English National Opera 257210 - 500
English Speaking Union 273136 - 1,150
Enham Trust 211235 - 350
Entelechy Arts 1068469 - 400
Environmental Investigation Agency 1182208 700 650
ENYP 1168896 400 350
Epic Partners 1150823 300 -
EP Youth 1099864 700 600
Equation 1140240 300 -
Escape Support Group 1081446 - 400
ESPS Ministries SC047753 500 -
Ethos Group 1040269 400 -
Evangelical Alliance 212325 1,100 1,000
Exaireo 1125402 - 450
ExeAccess 1129560 500 -
Exeter ICE Charitable Trust 1071619 400 -
Exposure 1073922 400 -
Face Front Inclusive Theatre 1116506 300 -
Family Action 264713 550 500
Family Counselling Trust 1112739 - 400
Families for Children 1093131 600 550
Fareshare 1100051 - 800
Farms for City Children 325120 800 800
Fauna and Flora International 1011102 - 500
Fields in Trust 306070 - 700
Fife Carers Centre SC029466 300 -
Fife Young Carers SC047519 - 400
Fight Against Blindness 1124806 550 -
First Days 1157855 - 350
FOP Friends 1147704 - 400

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Fostering Network 280852 - 800
Foundation for Conductive Education 295873 850 -
Fresh Start 1149347 300 -
Freshwaters Contact Centre 1186179 300 -
Friends for Life Bedfordshire 1165730 350 -
Friends of Cathedral Music 285121 - 150
Friends of Holcot 1092332 500 -
Friends of Lambeth Palace Library 313023 350 -
Friends of the National Libraries 313020 500 500
Frozen Light 1150132 400 -
Furniture Recycling Project 1057619 300 -
Future Trees Trust 1103202 550 550
Gatwick Detainees Welfare Group 1124328 300 -
Genesis Trust 1045828 - 500
Giving World 1105883 450 -
GL11 Community Hub 1130096 300 -
Glass Door Homeless Charity 1083203 4,200 1,100
Global Canopy 1089110 - 500
Gloucestershire Bundles 1172833 400 -
Governor’s Academy Overseas 500 500
Grace Evangelistic Ministries Overseas - 650
Grandparents Plus 1093975 350 -
Grantham Foodbank 1146588 - 400
Green Synergy 1153883 300 -
Greens Windmill Trust 1163116 400 350
Grit 1041855 - 350
Halton Village Millenium Green Trust 1068775 300 -
Hands On London 1140291 400 -
Happy Faces 1101620 - 400
Headway Devon 1097870 900 800
Headway West London 1160899 400 -
Health Poverty Action 290535 880 800
Healthy Living Projects 1087256 650 550
Heart of Tamworth Community Project 1157449 300 -
Heartbeat 1140548 700 600
Hebron Trust 1020095 - 800
Helen Arkell Dyslexia Centre 1064646 400 350
Helen Bamber Foundation 1149652 - 550
Henshaws Society for Blind People 221888 - 400
Heritage Alliance 1094793 520 -
Heritage Crafts Association 1159208 500 -
Hessle Road Network 1097519 500 450
Hextol Foundation 1120857 400 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Highgate Cemetery 1058392 - 500
Highlights 1124382 400 -
Historic Chapels Trust 1017321 950 -
Home for Good 1158707 - 400
HomeStart South Leicestershire 1107504 400 -
HomeStart South West Kent 1105047 500 -
Hope at Home 1176802 300 -
Hope Counselling 1185376 350 300
House of Bread 1155425 - 350
HOUR Community 1167837 350 -
Hourglass 1140543 700 600
House of St Barnabas 207242 700 -
Housing Justice 294666 - 600
Hull’s Children’s University 1124329 400 -
Human Trafficking Foundation 1134448 5,000 2,500
Impact Foundation 290992 1,100 1,000
InHope 298528 600 550
In Kind Direct 1052679 2,000 1,800
Insight 1125103 500 450
Institute of Conservation 1108380 120 116
Institute of Historic Building Conservation 1061593 - 500
Intercare 275637 950 850
Inter Faith Network 1068934 - 400
Involve Kent 1066911 500 450
Irish Peatland Conservation Council CHY6829 800 -
IT Schools Africa 1146157 650 600
Jackson’s Lane 1119318 400 350
Joanna Project 1138640 300 -
Jigsaw (South East) 1147696 - 400
Karis Neighbour Scheme 1133510 450 -
Katherine Low Settlement Limited 1081248 - 400
Kensington Society 267778 - 30
Kent Wildlife Trust 239992 - 360
Kernow Positive Support 1186054 400 -
KEYS 1154263 450 400
Kidscan Children’s Cancer Research 1094946 800 -
Kidscape Campaign for Children’s Safety 326864 450 -
Kidz Klub Leeds 1084977 500 450
Kindred Advocacy SC000264 450 400
Kingfisher Cafe 1172935 - 400
King’s Church 1102341 500 -
King's College London (Marjan Centre) - - 750
Kingsbridge Area Foodbank 1189068 400 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Koestler Trust 1105759 1,000 1,000
Label of Love Limited 1061328 - 400
Larches Trust 1049243 - 400
LATCH 1186655 400 -
Legs4Africa 1158697 500 -
Leukaemia Care 1183890 500 -
Leukaemia UK 1150414 850 -
Lewisham Refugee and Migrant Network 1058631 300 -
Life and Soul 1153304 450 400
Life Centre 1127779 - 400
Lighthouse Family Trust 803069 300 -
Listening Books 264221 1,000 900
Little Sisters of the Poor 234434 600 550
Living Paintings Trust 1049103 - 800
Longford Trust 1164701 350 -
Lupus UK 1051610 1,000 1,000
Luton Shopmobility 1002805 - 350
Lymphoedema Support Network 1018749 - 400
Lymphoma Action 1068395 750 700
Mae Murray Foundation NIC100842 300 -
Magdalen Environmental Trust 1002373 350 -
Magdalene Group 1177626 - 850
Maidstone Churches Winter Shelter 1156735 450 400
Manna House 1147785 300 -
Manna Society 294691 900 -
Maranatha Orphanage Ministries Overseas - 600
Marches Family Network 1047075 450 400
Margaret Pyke Trust 1064672 500 -
Marine Conservation Society 1004005 1,000 -
Markfield 289904 350 300
Marylebone Project 226226 - 450
Matrix 1081852 500 -
Matthew Trust 294966 1,100 1,000
Mayak Foundation 1154294 450 400
Maytree Respite Centre 1087668 450 -
MCS Aware 1152139 300 -
Medic to Medic 1149904 300 -
Medical Aid for Palestinians 1045315 600 550
MediCinema 1058197 - 400
Mercia Therapy Centre 701561 400 350
Merlin MS Centre 1093691 450 400
Methodist Relief and Development Fund 291691 650 -
Mind 219830 750 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Mission Aviation Fellowship 1064598 - 1,000
Mission International SC038645 400 -
Mitchell’s Miracles Neuroblastoma Charity 1152726 300 -
Moira Anderson Foundation SC029979 400 -
Morton Hall Detainee Visitors Group 1174056 450 400
Mosaic Middle East 1133576 1,000 -
Mothers for Mothers 1012642 450 400
Muir Maxwell Trust 1067405 - 350
Museum of London 1139250 - 500
Myaware 1046443 - 400
My Life My Choice 1187726 450 400
MySight York 1159188 300 -
My Time 297481 300 -
Narthex Sparkhill 1100358 500 450
National Children’s Orchestras of Great
Britain 803026 - 400
National Churches Trust 1119845 - 750
National Eczema Society 1009671 300 -
National Kidney Federation 1106735 500 -
National Lobster Hatchery 1105434 500 -
National Maritime Museum 1147279 - 120
National Portrait Gallery - 140 140
National Rheumatoid Arthritis Society 1134859 - 450
Natural History Museum 1146384 1,500 2,500
Nehemiah Project 1058536 850 750
Network 292801 - 350
New Life Community Counselling NIC106825 300 -
New Team SCIO SC044882 500 -
Nicodemus 1170143 - 350
Noah’s Ark Childrens Venture 1061676 - 400
Noonan Syndrome Association 1140671 400 -
North Bristol Advice Centre 1066921 450 400
North of England Zoological Society 306077 650 600
Northampton Hope Centre 1015743 550 -
Northamptonshire Association of Youth Clubs 803431 900 -
Nucleo Project 1169328 - 350
OCD Action 1154202 - 400
Off the Fence 1108777 850 800
Omega the National Association for
End of Life Care 1120322 - 350
On Course Foundation 1136618 450 400
One 25 1062391 550 500
Only Connect 1116147 450 400

___________ - 30 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Open Door Exmouth 1094599 800 750
Open Road Visions 1019915 750 700
Opportunity International 1107713 750 -
Orchards 1179459 300 -
Orchard Project 1139952 550 500
Orthopaedic Institute Foundation 1044906 550 -
Oswin Projects 1158065 - 300
Ovacome 1159682 - 450
Painters’ Company 1135314 725 380
Parkinson’s Disease Society UK 258197 550 -
Partnership for Children 1089810 550 500
Pathway Project 1005976 - 400
Pecan 801819 500 -
Pembroke House 1177866 400 -
Pennywell Youth Project 1143789 300 -
Penumbra SC010387 1,000 900
Perth Autism Support SC048183 500 -
Phoenix Enterprises (Swindon) Limited 1094101 - 350
Plantlife International 1059559 - 100
Playskill 1122745 400 -
Pragya UK 1082476 300 -
Pregnancy Counselling & Care SC026943 500 -
Preventing Addiction Larne NIC100070 300 -
Prisoners' Advice Service 1054495 - 600
Prisoners' Education Trust 1084718 950 -
Prison Fellowship 1102254 - 600
Rare Breeds Survival Trust 269442 250 250
Rape Crisis 1051611 450 -
Reach South Sheffield 1100770 - 350
Reach Volunteering 278837 850 750
RECOOP 1139233 300 -
Re-Cycle 1063570 450 -
Reed’s School Charity Account 1187534 750 700
Refugee Council 1014576 - 2,000
Refugee Info Bus 1168538 350 -
Refugee Support Devon 1143884 - 400
Refugee Support 1174070 300 -
Regenerate 1087134 - 600
Remap 1137666 550 -
Remar Association 1010448 400 350
Renewable World 1119467 350 300
Resolve West 1000641 500 -
Respite Association 1086598 750 650
Restart Lives 1128848 - 400

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021 FOR THE YEAR ENDED 5 APRIL 2021
____________
7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Riverbank Trust 1143758 300 -
RNLI 209603 - 150
ROSY – Oxford Health Charity 1057285 400 -
Road Victims Trust 1142336 - 300
Royal Academy Trust 1067270 200 -
Royal Entomological Society 213620 - 600
Royal Hospital Chelsea Appeal Ltd 1076414 50 400
Royal Opera House 211775 465 435
Safeline Warwick 1070854 650 -
Sailors' Children’s Society 224505 650 -
Sal’s Shoes 1171670 500 -
Salvation Army 214779 650 550
Sane 296572 550 -
Scotts Project Trust 1051947 - 700
Sea-Changers 1142119 - 100
Serve 1043321 600 550
Seven Stories 1056812 550 -
Severn Rivers Trust 1134096 350 300
Shallal 1166404 300 -
Shrewsbury Ark 1163476 500 450
Sikh Sanjog SC004495 400 -
Sixty One 1159302 - 400
Small Woods Association 1081874 - 125
Snowdon Trust 282754 400 -
Society for the Protection of Ancient Buildings 1113753 100 100
Soldiers’ Sailors’ and Airmens’ Families
Association 210760 450 -
South Bristol Advice Services 1066392 400 350
South West Community Chaplaincy 1128372 700 650
Spencer Contact 1070072 800 700
Special Stars Foundation 1156237 400 -
Sperrin U3A NIC107553 400 -
Sporting Challenge 1140207 300 -
Sporting Marvels 1101562 - 550
Spring Bank Community Association 700591 - 400
Springfield Community Flat 1114292 - 550
St Cuthbert's Centre 803638 - 450
St Elizabeth’s Centre 1176777 - 400
St Francis Youth and Community Centre 1153521 300 -
St Joseph’s Family Centre 1180172 - 400
St Luke's Healthcare for the Clergy 1123195 - 900
St Martins Centre for Health and Healing 1094458 - 350
St Mary-Le-Bow Young Homeless Charity 1103578 - 900

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
St Pauls Advice Centre 1083010 350 -
St Thomas Anglican Church 1175152 400 -
St Vincent’s Family Project 1142095 500 -
Stand Against Violence 1156451 300 -
Steamship Freshspring Society 1151907 - 400
Step by Step (Wales) 1168671 - 300
Steps Conductive Education Centre 1063143 300 -
Stick ‘n’ Step 1136997 - 400
Stone Community Hub 1121854 300 -
Street Child 1128536 500 -
Street Connect SC044879 400 350
Street Teams 1075862 500 450
Student Life 1180933 500 -
Suffolk Building Preservation Society 1154806 450 -
Sunshine Wishes Children’s Charity SC046697 400 -
Support Line 1097419 300 -
Support Through Court 1090781 - 300
Support U 1145334 300 -
Surrey Drug and Alcohol Care 1151494 300 -
Surviving Economic Abuse 1173256 400 -
Sussex Association for Spina Bifida and
Hydrocephalus 1175032 700 600
Tackle Prostate Cancer 1163152 400 -
Tate Foundation 1085314 1,500 1,500
Teen Action 1120268 - 450
Thames21 1103997 400 -
The Anchor Society 208756 600 550
The Arts Society 1089743 - 50
The Aspinall Foundation 326567 500 -
The British Stammering Association 1089967 650 -
The Burslem Jubilee Project 1160079 - 400
The Camden Psychotherapy Unit 1112967 450 400
The Cedar Tree Trust 1043370 450 400
The Cheer-up Squad 1139859 - 400
The Childhood Trust 1154032 - 400
The Children’s Bookshow 1162410 1,200 1,100
The Compassionate Friends 1082335 500 400
The Counselling Centre 1039911 400 -
The Counselling Hub 1178563 - 400
The Crossing Point 1159440 - 400
The Crusaders Union 1144923 500 -
The Destitution Project 1109703 - 400
The Door Youth Project 1131919 500 -
The Exodus Project 1118191 400 350

________________ - 33 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
The Family and Community Network 1138304 300 -
The GAP Project 1084622 350 300
The Georgian Group 209934 200 200
The GRAB Trust SC029154 500 -
The Green Team 1080247 300 -
The Hope Centre 1103903 350 300
The Hospice Biographers 1169750 - 400
The House on the Corner Community 1107670 500 450
The Hull People’s Memorial Museum 1146942 500 -
The Light House Christian Care Ministry Trust1064132 650 550
The Light of the World Community Centre 1127877 300 -
The Listening Place 1164739 450 400
The Margins Project 1153070 - 600
The Message Enterprise 1147287 - 600
The Mission to Seafarers Scotland SC041938 500 -
The OHMI Trust 1143623 300 -
The Olive Branch 1116329 650 600
The Olive Tree 1026345 300 -
The Oxford Pastorate 1136848 400 -
The Passage 1079764 900 850
The Phoenix Stroke Club 278998 400 -
The PSP Association 1037087 - 550
The Recovery Course 1170792 300 -
The Second World War Experience Centre
1072965		 400 -
The Separated Child Foundation 1120669 500 400
The Sick Children's Trust 284416 900 800
The Sofa Project 287088 450 400
The Spitz Charitable Trust 1155033 450 350
The Upper Room 1004354 - 450
The Voice That Makes a Difference 1151890 400 -
The Wheelyboat Trust 292216 300 -
The World Parrot Trust 800944 - 400
Think Children 1146301 - 550
Thorney Island Society 1000751 - 100
Through the Roof 1087788 500 550
Tibet Relief Fund 1061834 600 -
Time Out Group 1120840 300 -
Tiyeni 1113274 - 400
Tom’s Trust 1183559 400 -
Tools for Self-Reliance 280437 1,100 1,000
Torbay Street Pastors 1123087 300 -
Tower Hamlets Mission 1154842 900 800
Toxteth Women’s Centre 1147835 - 400
Trauma Breakthrough 1150508 300 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Charitable Donations (continued) Registered 2021 2020
Charity No £ £
Trauma Foundation South West 1146885 450 400
Treasures Foundation 1131292 - 300
Trees for Life SC021303 - 900
Treloar Trust 1092857 800 700
Turntable Furniture 1090229 550 -
Tyneside Women’s Health 1126648 300 -
UK Harvest 1171916 500 400
Unite Carers 1099188 450 -
Universal Ease to Redress 1128709 - 400
Unseen 1127620 - 400
Uttlesford Community Travel 1072529 300 -
Vale Mill Trust 1011002 - 280
Vics in the Community SC048328 300 -
Victoria and Albert Museum - 330 330
VocalEyes 1067245 300 -
Voluntary Services Lewisham 266585 - 850
Volunteer Centre Uttlesford 1114907 - 400
Volunteering Matters 291222 400 -
Walk Ministries 1168547 300 -
Walsall Bereavement Support Service 1152724 - 400
Walsingham Motor Insurance Ltd - - 400
Walthew House 1167749 400 -
WAND UK 1111925 300 -
Wandsworth Community Chaplaincy Trust 1148824 400 -
War Memorials Trust 1062255 - 700
War Paws 1168239 500 -
Warwickshire Social Inclusion Partnership 507063 300 -
Warwickshire Young Carers 1098357 - 400
Watt’s Gallery Trust 313612 400 350
Waves Seaford 1118771 300 -
WDGB Ltd 1146111 - 400
Wear Valley Women’s Aid 1057916 - 400
Wellgate Community Farm 1091729 400 350
Wessex Chalk Stream and Rivers Trust 1130991 450 -
Westfield Community 271252 - 400
West Hampstead Women’s Centre 1085824 350 -
West London Action for Children 1135648 3,000 1,100
West Lothian 50 Plus Network SC024257 400 -
Wetherby in Support of the Elderly 1163698 - 400
Wiener Holocaust Library 313015 400 -
Wikimedia Foundation 1144513 - 100
Wild Futures 1102532 400 350
Wildfowl and Wetlands Trust 1030884 - 1,500

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7
Charitable Donations (continued)
Registered
Charity No
Willowfield Parish Community Association NIC103336
Willow Foundation
1106746
Wintercomfort for the Homeless
1003083
Without Walls
1119209
Woking Community Furniture
1059139
Womankind
297258
Woman’s Trust
1143513
Women on the Frontline Ministries
1150842
Women's Aid
1054154
Woodlarks Campsite Trust
306148
World Monuments Fund
1126578
World Villages for Children
1058973
Wotton-Under-Edge Historical Society
291936
Wycombe Youth Action
1172046
YMSO
1075134
Young and Inspired
1145639
Young Lewisham Project
1118469
Young Minds
1016968
Zoological Society of London
208728
Various donation cheques not being banked		 2021
£
300
500
450
300
-
-
350
-
400
400
350
500
350
500
-
500
350
-
149
(500)
254,861		 2020
£
-
400
400
-
400
550
-
400
-
350
-
-
-
-
700
-
-
350
646
-
195,133

MARSH CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, but were reimbursed a total of £707 (2020 - £82) for travelling and other expenses. All costs were incurred in the furtherance of the trust's charitable activities.

The trust does not have indemnity insurance to protect it from loss arising from neglect or defaults of its trustees or agents or to indemnify the trustees or officers against the consequences of any neglect or default on their part.

9 Employees

Number of employees

The average monthly number of employees during the year were:

Trust administrators
Employment costs
Wages and salaries

Social security costs
Other pension costs
 2021
Number
3
2021
£
118,786
12,762
10,000
141,548		 2020
Number
3
2020
£
124,321
10,375
9,867
144,563

There were no employees whose annual remuneration was £60,000 or more.

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

10 Awards 2021 2020
£ £
Charles Darwin Award and Marsh Prize 1,000 1,000
J O Westwood Medal and Marsh Prize - 1,000
Lucy Mair Medal and Marsh Prize 1,000 1,000
Marsh Award for Anthropology in the World 1,000 1,000
Marsh Award for Best Project with Paid Support 1,250 -
Marsh Award for Best Earth Sciences Book - 1,000
Marsh Award for Best Volunteer Led Project 1,250 -
Marsh Award for Church and Community Heroes 3,000 -
Marsh Award for Climate Change Research 1,000 1,000
Marsh Award for Community Archaeologist of the Year - 500
Marsh Award for Community Archaeology - 1,000
Marsh Award for Community Wetland Conservation Champion - 1,000
Marsh Award for Conservation Biology 1,000 1,000
Marsh Award for Conservation in Genetic Bio-Diversity 1,500 1,500
Marsh Award for Early Career Conservationist 2,000 -
Marsh Award for Early Career Entomologist - 1,250
Marsh Award for Early Career Research Archaeology - 500
Marsh Award for Ecologists in Africa - 2,000
Marsh Award for Education in Botanic Gardens 1,000 1,000
Marsh Award for Engaging the Public with Historic Vessels - 500
Marsh Award for Excellence in Gallery Education 3,500 4,000
Marsh Award for Human Rights Activism - 1,500
Marsh Award for Innovative Ornithology 1,000 1,000
Marsh Award for Innovative Projects - 1,500
Marsh Award for Insect Conservation - 1,250
Marsh Award for International Ornithology 1,000 1,000
Marsh Award for International Wetland Conservation - 1,000
Marsh Award for International Plant Conservation 1,000 1,000
Marsh Award for Lifetime Achievements in
Lepidoptera Conservation - 500
Marsh Award for Local Ornithology 1,000 1,000
Marsh Award for Marine and Freshwater Conservation 1,000 1,000
Marsh Award for Marine Conservation Leadership 4,000 4,000
Marsh Award for Mental Health Peer Support 3,000 3,000
Marsh Award for Mineralogy - 1,000
Marsh Award for Ornithology 1,000 1,000
Marsh Award for Outstanding Contribution to the Fight Against
Modern Slavery - 3,000
Marsh Award for Palaeontology - 1,000
Marsh Award for Peacemaking and Peacekeeping 1,000 1,535
Marsh Award for RBST Volunteer of the Year 500 500
Marsh Award for Terrestrial Conservation Leadership 4,000 4,000
Marsh Award for the Encouragement of Medallic Art 1,000 1,000

-38 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

10 Awards (continued) 2021 2020
£ £
Marsh Award for Unsung Heroes 2,000 -
Marsh Award for Volunteering in Support of Older People 2,250 100
Marsh Award for Volunteering with The Arts Society 2,500 3,000
Marsh Award for Volunteering with Royal Botanic Gardens Kew 1,300 1,000
Marsh Award for Wetland Conservation - 1,000
Marsh Award for Young Archaeologist of the Year - 250
Marsh Award for Young Ornithologist of the Year 500 500
Marsh Award for Museum of London Volunteers 1,500 1,500
Marsh Awards for Volunteering with Royal Museums Greenwich - 1,100
Marsh Awards with Barnardo’s 5,100 5,350
Marsh Botany Award 1,000 1,000
Marsh Church and Community Volunteer Awards - 1,750
Marsh Ecology Award 1,000 1,000
Marsh Ecology Book of the Year Award 1,000 1,000
Marsh European Lepidoptera Award - 500
Marsh 'Made in Britain' Award 1,000 -
Marsh Heritage Crafts Trainee Award 1,000 -
Marsh Heritage Crafts Trainer Award 1,000 -
Marsh Heritage Crafts Volunteer Award 1,000 -
Marsh Heroes of the Pandemic Award 7,250 -
Marsh Horticultural Science Award 1,500 1,500
Marsh IHBC Award for Community Contribution 500 500
Marsh IHBC Award for Successful Learning in Heritage Skills 750 500
Marsh Individual Volunteer Award with the Canal and River Trust - 1,500
Marsh Lifetime Achievement Award for Gallery Education 500 -
Marsh Lifetime Achievement Award with RBST 500 500
Marsh Marjan Award 1,000 1,000
Marsh Promotion of Lepidoptera Conservation Award - 500
Marsh RAI Film Award - 500
Marsh Recovery Awards 2,000 2,000
Marsh Refugee Volunteer Award 2,500 2,500
Marsh Team Volunteer Award for Historic Vessel Conservation 1,500 1,000
Marsh Team Volunteer Award with the Canal and River Trust - 3,000
Marsh Volunteer Award for Historic Vessel Conservation 500 500
Marsh Volunteer Award for Marine Conservation 2,000 1,500
Marsh Volunteer Award with Addaction - 2,500
Marsh Volunteer Award with Royal Opera House - 2,250
Marsh Volunteer Award with St Mungo's - 1,800
Marsh Volunteer Award with the Churches Conservation Trust 4,000 3,500
Marsh Volunteer Award with the Kent Wildlife Trust 2,000 1,500
Marsh Volunteer Award with WAWY 2,500 -
Marsh Volunteers for Museum Learning Award 7,500 8,000
Marsh Young Volunteer Award for Marine Conservation 1,000 500

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

10
Awards (continued)
Marsh Young Volunteer Award with RBGK
Prince Philip Award and Marsh Prize
Thomas Henry Huxley Award and Marsh Prize
Various award cheques not being banked		 2021
£
300
600
1,200
(900)
98,850		 2020
£
300
600
1,200
-
109,735

11 Heritage assets

Fixed asset investments in note 12 include £92,000 (2020 - £92,000) relating to an investment in The Marsh Paper Museum. This represents a collection of over 29,000 images, text and archive material recording the history of one small family from 1840, through the 20[th] century and onto the founding of the Marsh Christian Trust in 1981, with its awards and grant-making activities, taking it into the 21[st] century.

The small archive contains 738 ring binders with approximately 34,700 pages. Each ring binder contains 50 documents contained in 25 plastic sleeves. Additionally, there is a searchable access database. The museum is stored in bespoke oak cabinets especially built to house the files.

The Museum was gifted to the Marsh Christian Trust in 2004 by Brian Marsh OBE, trustee. Since the trust’s inception in 1981, the entries into the Paper Museum have significantly increased and it has grown to include more and more of the charity’s documents and records. With this in mind the future vision is for The Marsh Paper Museum to become the trust’s official archive and it was gifted on that basis.

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

12
Fixed assets investments
Quoted
Unquoted
Other
securities
securities investments
£
£
£
Market value at 6 April 2020
6,295,395
5,982,853
92,000
Disposal at opening book value
(244)
(420,607)
-
Acquisitions at cost
876,289
-
-
Change in value in the year
2,463,521
1,551,858
-
Market value at 5 April 2021
9,634,961
7,114,104
92,000
Historical cost:
At 5 April 2021
5,105,971
5,022,683
-
At 5 April 2020
4,588,436
5,766,690
-		 Total
£
12,370,248
(420,851)
876,289
4,015,379
16,841,065
10,128,654
10,355,126

Quoted and unquoted securities mainly comprise investments managed and valued by the trust's investment managers, Rathbone Investment Management Limited and Rothschild Wealth Management (UK) Limited. All investments in securities are included at year-end market value.

Other investments represent The Marsh Paper Museum that was donated by Brian Marsh OBE to the trust in February 2004 and has been included in the financial statements at the trustees’ best estimate of its market value at the year-end (see note 11).

During the year, the trust received gifts of shares from Brian Marsh OBE, as detailed in note 3 of the financial statements.

13
Debtors
Other debtors
Prepayments and accrued income		 2021
£
4,625
270
4,895		 2020
£
-
211
211

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

14
Creditors: amounts falling due within one year
Trade creditors
Accruals
Taxes and social security costs
Other creditors		 2021
£
39,432
19,713
3,044
1,060
63,249		 2020
£
122,520
15,195
2,300
958
140,973

15 Pension and other post-retirement benefit commitments Defined contribution

The trust contributed to personal pension arrangement on behalf of all its employees. The assets of the scheme are held separately from those of the trust in an independently administered fund. The pension cost charge represents contributions payable by the Trust to the personal pension fund.

Contributions payable by the trust for the year 2021
£
10,000		 2020
£
9,867

16 Analysis of net assets between funds

Income funds Capital funds
£
£
Funds balances at 5 April 2021
are represented by:
Intangible fixed assets
3,360
-
Tangible fixed assets
2,498
-
Investments
-
16,841,065
Current assets
61,486
221,740
Creditors: amounts falling due
within one year
(63,249)
__-
4,095
17,062,805		 Total
£
3,360
2,498
16,841,065
283,226
(63,249)
17,066,900

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

17 Related parties

The trust pays administration charges to B P Marsh & Company Limited, a company of which Mr Marsh is a Director. The administration charges include a share of the office costs and associated overheads and administration costs. During the year to 5[th] April 2021 total administration charges paid by the trust to the company were £37,200 (2020 - £41,160), and at 5[th] April 2021 the trust owed BP Marsh and company Limited £39,432 (2020 - £122,520).

During the year the trust also received donations from Brian Marsh totalling £640,900 (2020 - £1,064,000) in the form of gifts and shares.

In the opinion of the trustees they consider that there is no ultimate controlling party.

________________ - 43 -