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2023-04-05-accounts

MARSH CHRISTIAN TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

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MARSH CHRISTIAN TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees B Marsh OBE N Collings A Marsh C Micklewright N H Carter A Foulk Charity Number 284470 Principal address 5th Floor 4 Matthew Parker Street London SW1H 9NP Auditors Xeinadin Audit Limited 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 16-44

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2023

________________

The trustees present their report and accounts for the year ended 5[th] April 2023.

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 be appointed to the committee. The membership of the committee is approved at each annual trustee meeting.

The trustees review the activities of the trust on a quarterly basis, but individual trustees maintain regular contact with trust staff. The accounting function is carried out by the trust’s administrators and Xeinadin Audit Limited. The trust is related to B P Marsh & Company Limited where Brian Marsh OBE, the settlor and a trustee, is a director and Chairman. 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 2023

________________

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 2023

________________

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 £500 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.

In addition to its programme of grant-making, the trust makes funds available to the organisations that it partners with to run the Marsh Awards in the form of a grant towards the running costs of the scheme. This grant is made available on request from the partner organisation and is a modest sum towards the additional costs that the Marsh Awards generate for an organisation.

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 2023

________________

Recipients of the 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 120 Awards run across the areas of social welfare, conservation and ecology, the arts and heritage. Full details of the Scheme 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. The majority of the trust’s 120 Awards recognise the invaluable contributions of volunteers across the charity sector.

The trust itself depends on the contributions of 10 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 the number of Marsh Awards.

Achievements and performance

During the financial year ending 5th April 2023, the trust made a similar number of grants and Awards to the previous year. During the year, the trust supported 108 new charities, predominately 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 473.

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 8 of its existing partners, providing more funding for some Awards in order to recognise more individuals working in these fields. A new category of Award for lifetime achievement was introduced into the trust’s partnerships with Canal and River Trust and Heritage Crafts in order to help recognise long-term commitment.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2023

________________

In addition, new Awards were presented in partnership with 4 new organisations, including the Church Recording Society which recognised volunteers conducting records of churches across the UK and internationally. Two of these new Award partners, Home-Start and the Environmental Investigation Agency, were previously recipients of core grants from the trust.

It would be impossible to run these Awards without the commitment and input of partner organisations 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. In the year ending 5th April 2023, total grants and Awards amounted to £440,839 (£372,705 – 2022). 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 £206,585, bringing the total charitable expenditure of the trust to £647,424. 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 £18,017,903 which is invested to produce suitable returns to fund the trust’s 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 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 £900,000 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 2022 to 5th April 2023, the Marsh Christian Trust portfolio returned -4.46%. This compares negatively with the portfolio’s return objective (inflation +3%), which returned +13.08% over the same period. During the 12 months in review, £372,607 was withdrawn from the portfolio in five parts – April, June, September and December 2022 and March 2023.

Capital markets experienced a turbulent second quarter of 2022. Global equities fell by 9.0% in GBP terms, their worst quarterly decline since the initial pandemic turndown. Meanwhile, UK 10year gilt returns declined by 4.1% (unhedged, GBP terms). Central to this volatility were the prospects of faster normalisation in interest rates, persistent inflation, and mounting global growth concerns. The geopolitical landscape continued to be challenging in Q2, as Russia’s invasion of Ukraine showed no signs of resolution in the near future. During the final quarter of the year, economic activity momentum continued to slow albeit unevenly. Inflation rates appeared to moderate from their multi-decade highs – particularly in the US – and central banks carried on hiking policy rates.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2023

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The Marsh Christian Trust’s holdings underperformed over the period. The Return Assets, which consist of companies and funds, returned -4.46% (in local currency terms) in the period, below World Equities returns. As expected during a period of falling markets, the Diversifying Assets contributed positively to performance, returning +3.18%.

Of the contributors, 2022 proved a fruitful period for the diversifying assets and their performance offset a material portion of losses elsewhere in the portfolio. The Okura Fund, a ‘tail risk’ strategy, managed by 36 South, led the way returning +44.0%. Gains were monetised within the strategy over the course of the year, and we recently took the decision to reduce our holding in the Fund to release some of this surplus cash and to realise some of these gains in the portfolio.

The trend followers also performed well in 2022, particularly the Abbey Focus Fund and CFM Funds. Broadly speaking, these strategies were able to benefit from some of the macro-driven trends we saw throughout the year – in particular: rising commodity prices and bond yields, and a strong US Dollar.

Within fixed income, our inflation-linked bond allocation detracted as real yields rose over the course of the year. However, the longer-dated nominal bonds we added during the period of significant bond market volatility in the autumn have performed well, returning ~10% as bond yields have retreated slightly since the initial purchase.

Looking ahead to the new tax year, headline inflation rates moved lower across most parts of the world, while core inflation – that is, excluding food and energy – proved to be stickier, and may continue to be over the course of this year. The improvements were most evident in the US data: headline inflation decreased to 6.0% (year on year) in February, as did core inflation to 5.5%. Headline inflation in the Euro area also declined to 6.9% in March, though the core rate was yet to peak – hitting a record high of 5.7%. Surprisingly, UK inflation reaccelerated in February, with the headline rate still above 10.0% - but the impact of falling gas prices should soon filter through.

At year-end, however, central bank resolve was unwavering, with policy rates nudging higher – even as financial stability concerns took centre stage. That said, policymakers were on high alert to the risk of a potential banking crisis (a seizure of the banking system is itself a tightening of monetary conditions, which would do some of the central banks’ inflation-fighting job for them).

Rathbones

2022 is a year many will be pleased to leave behind, with the news dominated by the war in Ukraine, the US Federal Reserve raising interest rates further and faster than expected and inflation being stickier than first thought. It was a difficult year for most with sharp falls in both equity and bond markets alike. There were few places to hide across asset classes or sectors with the likes of energy, armaments, tobacco, corn, and the US Dollar being the only places to see positive returns over 12 months. The UK government bond market fell -23.8% during 2022 and inflation linked government bonds fell even further (-33.6%), in a year when inflation hit double digits in the UK and 9.1% at its peak in the US over the summer.

MARSH CHRISTIAN TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2023

________________

The S&P 500 fell by 18.5% in Dollar terms over the year having been off almost a quarter at its lowest, with the tech heavy NASDAQ falling -32.4%. By contrast, the FTSE 100 was flat over the year in large part due to its exposure to oil and gas, mining and defence companies and significant Dollar earnings with Sterling relatively weak.

The outlook for the UK consumer still looks difficult. Energy bills will remain exceptionally high for a while, with the typical household paying more than twice as much as in mid-2021. Meanwhile, the effects of last year’s interest rate increases continue to feed through. More than 1.4 million UK households need to refinance fixed-rate mortgages this year. Over half of them were previously paying rates below 2%, compared with the 5.1% average currently offered by lenders, so monthly payments will rise sharply. The proportion of households facing very high debt repayments relative to their incomes is likely to jump this year. As if that wasn’t enough, the global economic backdrop continues to get tougher.

The pervasiveness of inflation and corresponding central bank action remains the key driver for markets and is likely to remain so until inflation has fallen closer to central bank targets. Whilst inflation has been declining, it has been much slower than generally expected. As a result, the Fed, Bank of England and European Central Bank are probably not quite done tightening yet.

Overall the year to 5th April 2023 saw the FTSE All Share rise 2.9% (Total Return), FTSE 100 up 5.4% (Total Return) and bond index down 16.3% (Total Return). Against this the MCT portfolio was down 2.3% (Total Return). The annual income generation is an estimated £348,000, which is an increase from last year.

There is some light at the end of the tunnel, however markets will not look beyond inflation and central bank policy in the near term. Whilst we may not have seen peak interest rates, we are nearing the top of the cycle as we have seen the peak and rollover in inflation figures. However, markets will remain relatively stale without a positive catalyst, such as a drop in interest rates.

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 trusts 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 £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 2023

________________

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 perspective 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.

Future activity

In light of gifts received by the trust, the trustees have increased the trust’s monthly grantmaking budget from around £33,000 to around £35,000, in order to maximise its charitable expenditure.

It is the trust’s mission to continue to support and promote the work of charities and the people behind them. The grants programme is developed each year and focuses on building on longstanding grantee relationships while also developing new ones. Each month, 10 new organisations are supported, and this will continue over the next year.

Award partnerships continue to be developed, and the coming year will see new partnerships with the Institute of Conservation and the Palaeontographical Society.

MARSH CHRISTIAN TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2023 Future actlvlty (continued) The tru51 wlll also be developing its exisllng partnership with the Church Racording Soci8ty to Increase the number of volunte8rs recogni5ad. and its partnership with the Brlllsh Art Medal Soci8ty to recognise the achievements of Intsmational medal artists. The trust will also look to alter rts Awards with Butterfly ConseNatlon, to put the focus on Ihe contributions and achSevem8nts of grassroots volunteers to promote lepldoptera around the UK. It looks to be 8 good year for development in th8 trust and, as always. the trust remains op8n to as for new Awards with both existing and new partners. On behalf of the Board of Tfu$te98 Brian Mar•h OBE Trustee Dal8d-. 31.1.

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 2023 set out on pages 14 to 44. 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MARSH CHRISTIAN TRUST

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

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Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

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.

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.

MARSH CHRISTIAN TRUST

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

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There are inherent limitations in the audit procedures performed and the further removed noncompliance 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:

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance the requirements of the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s 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.

Narendrakumar Mistry FCA Dated: Senior Statutory Auditor Xeinadin Audit Limited 15-19 Cavendish Place London W1G 0DD

MARSH CHRISTIAN TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023

________
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
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 2022

Fund balances at 5 April 2023		 ____
Income
Funds

£
-
382,550
382,550
40,568
341,982
386,840
101,246
115,893
30,896
12,549
647,424
3,900
691,892
(309,342)
-
(309,342)
-
(309,342)
616,808
307,466		 _______
Capital
Funds
£
900,000
-
900,000
40,568
859,432
-
-
-
-
-
-
3,900
44,468
855,532
-
855,532
(748,052)
107,480
17,870,173
17,977,653		 ___
Total
2023
£
900,000
382,550
1,282,550
81,136
1,201,414
386,840
101,246
115,893
30,896
12,549
647,424
7,800
736,360
546,190
-
546,190
(748,052)
(201,862)
18,486,981		 ___

Total

2022

£

666,338
362,874
1,029,212
79,246
949,966
339,781
89,120
88,276
30,870
13,892
561,939
7,800
648,985

380,227

-

380,227
1,039,854
1,420,081
17,066,900
**18,285,119 ** 18,486,981

_____________ - 14 -

MARSH CHRISTIAN TRUST BALANCE SHEET AS AT 5 APRIL 2023 2023 2022 Note• Flxed assets Intangl￿e fix8d assets T*ngible fixed assets Inve8tmenls 1,249 017 18,019,152 1,873 12 18,132,034 Current as¥•t• Debtors.. amounts falllt)g du8 wrthln ong year Cash at bank 8nd In hand 13 11.048 10,174 384,742 433,306 ¢r¢dltor¥: amounts falllng due wlthln •n• yo•r Nat curr•nt a85•ts Total aJA•t• l•¥• ¢urr•nt Il•bllltl• Unrestrictad funds.. Copilal fvnds 17,977,653 17,870,173 Incom8 fvnds The financlal ststemgnts were approved by the Irusleos on S l . 01 , 2 4- 8rian Marsh OBE Trusteo 15-

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

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

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 2023

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 tangible and 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 2023

1.8 Going concern

As a result of the Russia-Ukraine war, a variety of markets, including energy, agriculture, and the capital markets, have seen an increase in volatility and international sanctions on Russian and Belarusian companies have led to investment companies having to divest in these countries. The Trust’s investment managers have taken all reasonable steps to ensure that they have adhered to all international sanctions and minimised the impact on the investments held on behalf of Marsh Christian Trust.

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 2023

2
Fixed Assets
Cost
At 6 April 2022
Additions

At 5 April 2023
Amortisation/Depreciation
At 6 April 2022
Charge for the year

At 5 April 2023
Carrying amount
At 5 April 2023
At 5 April 2022
3
Donations and legacies
Donations and gifts		 Intangible
Fixed assets
£
16,800
-
16,800
16,800
-
16,800
-
-
2023
£
900,000		 Tangible
Fixed assets
£
3,122
-
3,122
1,249
624
1,873
1,249
1,873
2022
£
666,338

Gifts in kind represents donations by Brian Marsh OBE of £900,000 (2022 - £666,338) comprising gifts. 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		 2023
£
373,715
-
8,835
382,550		 2022
£
357,738
5,002
134
362,874

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

5 Total resources expended

Total resources expended
Direct
Charitable
Activities
Cost of
Generating Donation/
Support Governance
Funds
Grants
Awards
Costs
Costs
£
£
£
£
£
Donations/grant payments
296,539
Award payments
144,300
Staff cost
34,016
72,221
81,200
Other Costs
Investment managers fees
37,536
Management fees
43,600
Annual review costs
8,183
Books, paper & subscriptions
1,818
Website costs
43
Software maintenance
115
Travel
3,304
Printing & Stationery
1,110
Bank charges and Interest
539
Training
1,598
Audit fees
7,800
Paper Museum costs
121
Partner review meetings
1,251
Sundry
442
Depreciation
624
Total other costs
81,136
10,965
8,183
-
7,800
Total resources expended
81,136
341,520
224,704
81,200
7,800		 Total
£
296,539
144,300
187,437
37,536
43,600
8,183
1,818
43
115
3,304
1,110
539
1,598
7,800
121
1,251
442
624
108,084
736,360

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

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

Social & welfare
Arts and heritage
Environmental causes and
animal welfare
Healthcare and medical research
Education and training		 Awards Donations
£
£
47,500
215,800
42,100
26,880
54,700
24,259
-
21,050
-
8,550
144,300
296,539		 Total
2023
£
263,300
68,980
78,959
21,050
8,550
440,839		 Total
2022
£
225,799
58,532
58,976
20,274
9,124
372,705

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations Registered 2023 2022
Charity No £ £
4-Sight 1075447 600 500
A Breath for Life 1069697 - 500
A Rocha UK 1089276 800 700
Abergorki Community Hall 1082175 500 -
Abbey Road Centre 1047314 - 350
ABF The Soldiers Charity 1146420 600 500
Acid Survivors Trust International 1154961 400 350
Action on Poverty 290836 - 1,100
ActionAid 274467 1,000 900
Active Hope 1140534 - 500
Advance Brighter Futures 1089638 - 400
African Enterprise 278704 - 450
African Mission 1099264 500 -
Agnes Smith Advice Centre 1050456 600 500
Aid Box Community 1172697 - 500
AIDS Care Education and Training 299293 - 600
Aldate’s Community Transformation Initiatives 1143136 600 500
Alex, The Leukodystrophy Charity 1106008 700 500
ALICE (Relief of Poverty Advancement of
Community) 1148385 - 550
All Saints Youth Project 1136158 - 500
Alzheimer's Society 296645 500 -
Anaphylaxis Campaign 1085527 - 600
Anglican Centre in Rome 1003666 500 -
AP Cymru 1148010 500 -
Aphasia Re-Connect 1176125 500 -
Archbishop of Canterbury’s Anglican
Communion Fund 1078032 - 500
Archives & Records Association 1041063 360 360
Ascend 1073909 - 750
Assist Ministries Overseas 400 -
Asylum Welcome 1092265 700 600
Attend 1113067 700 600
Autism Inclusive 1162587 500 400
A Way Out 1137535 - 500
Axe Valley and West Dorset Ring and Ride
Service 1098002 500 -
Azalea 1126716 - 500
AzuKo 1156354 - 400
Ballet Rambert Ltd 326926 500 -
Barnabus 1174410 1,100 -
Barnes Music Society 248878 - 550
Barn Owl Trust 199835 800 -
Barons Court Project 296034 750 650

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered Registered 2023 2022
Charity No £ £
Bassetlaw Food Bank 1154703 500 -
Bat Conservation Trust 1012361 600 500
Beaulieu Community Trust 1169335 600 500
Bedfordshire Opportunities for Learning
Disabilities 1091271 500 -
Bendrigg Trust 508450 700 600
Bentley Beginnings 1081484 - 500
Be The Difference 1194936 500 -
Beyond the Streets 1099006 - 500
Bibic 1057635 - 1,000
Bible Reading Fellowship 233280 1,200 1,100
Bibles for Children 1187754 900 800
Big Brum Theatre in Education Company 514071 - 400
Bipolar Scotland SC021705 - 450
Bipolar UK 293340 - 500
Birmingham City Mission 1051023 1,100 1,000
Birmingham Community Hosting Network 1151763 500 -
Birmingham Royal Ballet 1061012 850 650
Birmingham Settlement 517303 700 -
Bishop Creighton House 1059084 700 500
Black and Blue 1155743 500 -
Blackfriars Settlement 210558 500 -
Blind in Business 1011957 700 600
Boaz Trust 1110344 - 800
Bolton Deaf Society 1191838 - 400
Bolton Lads and Girls Club 1051292 600 -
BOSP 1107392 - 550
Botanic Gardens Conservation International
1098834		 1,000 -
Botanic Gardens Education Network 1103482 - 500
Bow Foodbank 1162185 500 -
Braintree Youth Project Charity 1139014 - 450
Brecon and District Disabled Club 519457 - 600
Bridgend Community Bereavement Support
1180580		 - 500
Bright Cancer Care 1064857 - 500
Bristol Children's Help Society 1092921 - 550
British Blind Sport 1168093 900 800
British Council for Prevention of Blindness 270941 - 450
British Hedgehog Preservation Society 326885 50 50
British Hen Welfare Trust 1147356 900 800
British Liver Trust 298858 550 450
British Museum 1086080 1,500 1,500
British Polio Fellowship 1108335 400 350
British Thyroid Foundation 1006391 - 500
British Tinnitus Association 1011145 - 450

___________ - 23 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
British Tinnitus Association 1011145 - 450
Building Self-Belief CIO 1178101 600 500
Bumblebee Conservation Trust 1115634 800 600
Bury Society for Blind and Partially Sighted
People 1102525 600 500
Butterfly Conservation 254937 1,500 -
Butterfly Trust SC033174 500 -
Caldecott Foundation 307889 500 -
Calibre Audio Library 286614 1,100 1,000
Cambridge Theological Federation 1099953 - 500
Campaign for National Parks 295336 1,000 -
Camphill Village Trust Limited 232402 - 700
Canal and River Trust 1146792 1,000 1,000
Cancer Information and Support Services 1142883 - 500
Cancer Support UK 1105703 500 -
Canine Partners for Independence 803680 600 500
Cardinal Hume Centre 1090836 - 1,000
Care and Repair Edinburgh SC023790 550 450
Care for Carers SC013450 700 600
Care for Veterans 1072334 - 800
Carers in Bedfordshire 1135507 500 -
Carers Network 1097723 600 450
Caring for God’s Acre 1155536 - 500
Carmarthen Youth Project 1124727 - 500
Carousel Project 297201 500 450
Cavendish Cancer Care 1104261 550 -
Cavernoma Alliance UK 1114145 550 500
Cecily’s Fund 1071660 500 450
Cerebral Palsy Plus 1070079 800 700
Chamwell Centre 1162321 350 -
Change for Good Community Chaplaincy
Limited 1148824 500 -
Changing Faces 1011222 - 950
Chapter 1072395 600 500
Chatham Historic Dockyard Trust 292101 1,200 1,000
Child Autism UK 1063982 450 350
Child Bereavement UK 1040419 550 500
Child Growth Foundation 1172807 500 -
Children First Family Mediation 1137385 500 -
Children with Cancer Fund 1110644 - 500
Children’s Heart Federation 1120557 500 400
Children’s Hospital Pyjamas 1185739 350 -
Chiltern Open Air Museum 272381 - 500
Chiswick House Friends 289907 30 30

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Choices Islington 1124209 - 500
Christian Mercy Foundation Overseas 600 -
Christians Against Poverty 1097217 1,800 -
Christians Together Calderdale 1119477 500 -
Chronic Granulomatous Society 1143049 500 -
Church Action on Poverty 1079986 1,100 900
Church Mission Society 1131655 - 1,100
Church Urban Fund 297483 - 600
Churches Housing Action Team 1049478 600 500
CICRA 278212 500 -
Cinnamon Network 1156985 650 -
City & East London Bereavement Service 1169797 - 500
Clapton Common Boys Club 1121347 600 500
Classics for All 1135379 400 -
Clean Planet 1200299 500 -
Clean Rivers Trust 1037414 - 900
Cleanup UK 1120115 500 -
Cleft Lip and Palate Association 1108160 700 500
Climbing Out 1145023 500 400
Clonter Farm Music Trust 1083903 - 750
Clothing Solutions for Disabled People 1120118 - 900
Cockpit Arts 1029643 - 550
Cogwheel Trust 1157141 1,400 1,200
Community Advice Support and Education 1161466 - 350
Compaid Trust 1064160 1,100 1,000
Conciliation Resources 1055436 500 400
Connect: North Korea 1176563 700 600
Contact 1178557 - 600
Cornerstone Benwell 701263 - 500
Cotteridge Church Day Centre 1143091 700 550
Council for British Archaeology 287815 1,500 1,000
CPAS 1007820 - 600
Create Hope 1162501 500 -
Creation Fest 1121924 - 500
Creative Living Centre 1064628 - 350
CREATIVenergie SC047910 550 450
Creekside Education Trust 1082622 - 500
CRiBS 1122295 - 400
Criminon UK 1098120 900 800
Crossline Christian Counselling Service 1008809 - 500
Cruse Bereavement Care 208708 800 -
Cruse Bereavement Care Scotland SC031600 - 500
Crystal Palace Museum 293693 250 -
Cystic Fibrosis Trust 1079049 600 -
Dame Vera Lynn Children’s Charity 1089657 - 600

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Dandelion Time 1136613 600 500
Dartmouth Caring 900226 - 500
Daventry Contact 1002659 800 -
Dementia Adventure Trust 1163163 - 400
Dementia Friendly Swansea 1199456 500 -
Dementia Support 1158640 700 500
Deptford Action Group for the Elderly 269672 - 500
Derventio Charitable Trust 1142979 - 500
Devon in Sight 1140978 - 300
Different Strokes 1092168 900 800
Disability Advice Service 1152772 700 500
Disability Africa 1172163 500 -
Disability Challengers 1095134 600 -
Disability Information Bureau 1124371 500 -
Disability Law Service 280805 500 -
Disabled Sailors Association 1028993 450 350
Disabled Workers Co-operative 1112402 700 600
Discovery 1053115 700 600
Dog Assistance in Disability 1178719 - 400
Dorset Youth Association 306009 - 450
Down Syndrome Development Trust 1155830 600 -
Down Syndrome International 1091843 600 500
Down Syndrome Training and Support
Service Limited 1130994 500 -
Dressability 1102083 600 500
Dyspraxia Foundation 1058352 900 700
Dystonia Society 1062595 600 -
East Sussex Hearing 1101140 - 500
East Sussex Vision Support 209535 550 450
Ecobirmingham 1177761 700 500
Ecological Continuity Trust 1126122 500 -
ECPAT UK 1104948 400 -
Edinburgh Headway Group SC006528 - 500
Edinburgh Street Pastors SC043582 - 400
Elephant Family 1091671 250 -
Ella’s Home 1187529 - 400
Elmbridge Rentstart 1156746 - 450
Emmanuel Coffee Shop 1119535 500 400
Emmaus Bristol 1071538 - 500
Emmaus Transformation Trust 1069902 - 450
Encephalitis Support Group 1087843 550 450
Encompass 1154210 600 -
Engage 1087471 2,100 2,328

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Enham Trust 211235 550 450
Entelechy Arts Ltd 1068469 500 -
Environmental Investigation Agency 1182208 1,000 800
ENYP 1168896 500 -
EP Youth 1099864 - 800
ERIC 1002424 600 500
Essex Community First Aid Events
Volunteers 1180674 - 450
Essex Dementia Care 1129038 500 -
Essex Respite & Care Association 1051589 600 500
European Squirrel Initiative 1105920 500 -
Evangelical Alliance 212325 - 1,200
Everyone Can 1053961 1,100 -
Exaireo 1125402 700 500
Exeter Scrapstore 1143182 500 -
Extratime 1116203 - 500
Face Front Inclusive Theatre 1116506 - 400
Family Action 264713 - 600
Families InFocus 1062311 500 -
Families United Network 1091474 600 500
Fareshare 1100051 900 -
Farms for City Children 325120 900 800
Fauna and Flora International 1011102 500 -
Fellowship and Aid to the Christians of
the East 1178592 - 400
Fife Carers Centre SC029466 500 400
Fight Against Blindness 1124806 700 600
First Days 1157855 450 -
Flamingo Chicks 1187604 - 500
Forest of Avon Trust 1122314 500 -
Forget-me-not-Chorus 1151812 700 500
Formby Befriending Scheme 1171771 - 500
Foundation for Conductive Education 295873 1,000 900
Friends for Life Bedfordshire 1165730 450 -
Friends of Ashburton Library 1166980 - 500
Friends of Cathedral Music 285121 150 -
Friends of Holcot 1092332 600 -
Friends of Lambeth Palace Library 313023 - 350
Friends of the National Libraries 313020 500 550
Friends of Tower Hamlets Cemetery Park 1107136 - 500
Frodsham Youth Club 1161985 - 300
Froglife Trust 1093372 500 -
Frontier Youth Trust 1059328 500 -
Frozen Light 1150132 450 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Furniture Reclamation and Delivery
Enterprise 1020725 500 -
Future Trees Trust 1103202 - 600
Genesis Trust 1154253 600 550
Gilead Foundations 1002909 700 500
Giving World 1105883 550 -
GL11 Community Hub 1130096 500 400
Glass Door Homeless Charity 1083203 1,500 1,300
Global Skills Centre 1170010 500 -
Governor’s Academy Overseas - 500
Grace Christian Orphanage Centre Overseas - 750
Green’s Windmill Trust 1163116 - 450
Grit 1041855 - 400
Groundswell Network Support UK 1089987 - 450
Growing Well 1182018 400 300
Hands On London 1140291 - 450
Happy Landings Animal Rescue Centre 287194 500 -
Headway East London 1083910 700 600
Headway West London 1160899 600 -
Health Poverty Action 290535 1,000 -
Healthcare Workers’ Foundation 1189737 500 -
HealthProm 1100459 500 -
Healthy Living Projects 1087256 750 -
Hebron Trust 1020095 - 900
Helen Arkell Dyslexia Centre 1064646 700 500
Helen Bamber Foundation 1149652 - 600
Helping Disabilities Trust 1184724 500 -
Helping Hands Community Project 1188613 600 500
Henshaws Society for Blind People 221888 - 450
Heritage Alliance 1094793 1,355 650
Heritage Crafts Association 1159208 500 500
Hessle Road Network 1097519 600 550
Hextol Foundation 1120857 - 500
Highgate Cemetery 1058392 - 500
Highlights 1124382 500 450
High Peak Homeless Help 1105442 500 -
Home-Start South Leicestershire 1107504 - 450
Home-Start South West Kent 1105047 - 600
Home from Hospital Care 517190 500 -
Homeless People and the Oxford Churches
(Gatehouse) 1002741 500 -
Hope and Homes for Children 1089490 600 -
Hope at Home 1176802 500 400
Hope for Justice 1126097 500 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Hope Counselling SC042861 500 400
Hot Line Meals Service 1066575 - 400
HOUR Community 1167837 500 400
Hourglass 1140543 800 -
House of Mercy 1087730 - 500
Hospitality and Hope CIO 1159213 500 -
Human Trafficking Foundation 1134448 2,000 -
Humans MCR 1189282 - 500
Impact Foundation 290992 1,400 1,200
In Kind Direct 1052679 - 2,200
Independence at Home 1141758 1,250 1,100
InHope 298528 800 700
Insight 1125103 750 550
Institute of Conservation 1108380 145 125
Insurance Museum 1188138 500 -
Integrated Neurological Services 1107273 500 -
Inter Care 275637 1,000 1,100
International Care Network 1099400 600 500
International Needs 1175526 500 -
International Otter Survival Fund SC003875 700 500
Into Work SC028327 500 -
Involve Kent 1066911 700 550
Irish Peatland Conservation Council 20013547 900 900
IT Schools Africa 1146157 800 700
Jackson’s Lane 1119318 700 500
Jericho Road Project 1145740 - 450
Jigsaw (South East) 1147696 600 500
JPC Community Farm 1172634 - 500
Just Different 1125004 - 500
Kent Wildlife Trust 239992 600 -
Kernow Positive Support 1186054 500 -
KEYS 1154263 600 500
Kids Alive International 1140641 600 500
Kidscan Children’s Cancer Research 1094946 700 550
Kidscape Campaign for Children’s Safety 326864 - 500
Kidz Klub Leeds 1084977 600 -
Kingsbridge Area Foodbank 1189068 500 -
Kinship 1093975 - 500
Koestler Trust 1105759 1,000 -
Landkey Millenium Green Trust 1077132 500 -
Larne Wellbeing Hub NI00070 - 400
Latin American Foundation for the Future 1125872 600 500
Lead Scotland SC003949 - 500
Learn and Thrive 1195053 500 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Leeds Weekend Care Association 1077162 - 500
Lending Hope Ltd 1179132 - 500
Leukaemia UK 1150414 850 -
Life Centre 1127779 550 450
Lifelites 1165791 700 500
Light House 1164239 700 500
Lighthouse Family Trust 803069 500 -
Link to Change 1098452 - 500
Linking Lives UK 1170325 500 -
Listening Books 264221 1,200 1,100
Little Discoverers 1125400 500 -
Little Ouse Headwaters Project 1098232 500 -
Little Sisters of the Poor 234434 800 700
Little Troopers 1149258 - 300
Live Music Now 273596 - 600
Living Hope Belfast NIC101113 600 500
Living Paintings Trust 1049103 - 900
Longford Trust 1164701 - 400
Lothian Centre for Inclusive Living SC017954 500 -
Lupus UK 1051610 1,200 -
Luton Shopmobility 1002805 - 400
Magdalene Group 1177626 950 -
Maggs Day Centre 700852 - 500
Make Them Smile 1150013 500 -
Manchester City Mission 1170263 500 -
Manna House 1147785 - 350
Manna Society 294691 - 1,000
Marches Family Network 1047075 600 500
Margaret Carey Foundation Ltd 1136858 500 -
Margaret Pyke Trust 1064672 650 550
Marias Animal Shelter 1147719 500 -
Marie Curie 207994 - 400
Marine Conservation Society 1004005 1,300 1,100
Markfield 289904 400 -
Matrix 1081852 - 550
Matthew Trust 294966 1,400 1,250
Maxability 1162002 500 -
Mayak Foundation 1154294 - 500
Maytree Respite Centre 1087668 - 500
MCS Aware 1152139 400 -
Medic to Medic 1149904 - 400
Medical Aid for Palestinians 1045315 850 650
Medicinema 1058197 500 -
Mercia Therapy Centre 701561 550 450

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered Registered 2023 2022
Charity No £ £
Mercy Ships 1053055 800 700
Methodist Relief and Development Fund 291691 900 750
Middle East Media 271373 500 -
Midlands Parks Forum 1186863 - 500
Mind 219830 - 500
Missing People 1020419 600 -
Mission Aviation Fellowship 1064598 - 1,100
Mission International SC038645 500 -
Mitchell’s Miracles Neuroblastoma Charity 1152726 450 400
Moira Anderson Foundation SC029979 - 450
Morton Hall Detainee Visitors Group 1174056 550 -
Mosaic Middle East 1133576 600 -
Mothers’ Union 240531 - 600
Multiple Sclerosis Society 1139257 700 -
Muscular Dystrophy Support Centre 1148855 - 500
Museum of Free Derry NI100762 500 -
Museum of Leathercraft 313056 - 500
Museum of London 1139250 40 -
Music and Theatre for All 1157016 - 500
My Big Career 1153880 700 500
My Life My Choice 1187726 600 500
Myriad Centre 1109843 500 -
MySight York 1159188 - 400
My Time 297481 450 400
Narthex Sparkhill 1100358 - 550
National Axial Spondyloarthritis 1183175 400 250
National Children’s Orchestra of Great Britain
803026		 600 -
National Churches Trust 1119845 750 -
National Kidney Federation 1106735 700 -
National Lobster Hatchery 1105434 500 500
National Maritime Museum 1147279 500 125
National Rheumatoid Arthritis Society 1134859 - 500
Natural History Museum 1146384 1,500 1,500
Nehemiah Project 1058536 950 -
Network Counselling and Training 292801 - 450
New Life Community Counselling NIC106825 400 -
New Team SCIO SC044882 600 -
Nicodemus 1170143 600 400
Noah’s Ark Children’s Venture 1061676 500 450
No Panic 1018184 - 600
North Bristol Advice Centre 1066921 700 500
North of England Zoological Society 306077 800 700
Northamptonshire Association of Youth Clubs 803431 1,100 1,000
Nottingham Arimathea Trust 1121297 500 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Nottinghamshire Independent Domestic
Abuse Services 1105613 - 500
Nucleo Project 1169328 500 400
Oakleaf Enterprise 1064524 - 550
Oakhurst Community Hub 1169771 500 -
Oasis Aquila Housing 1107554 - 600
OCD Action 1154202 600 -
Off the Fence 1108777 1,000 950
Omega, the National Association for
End of Life Care 1120322 500 400
On Course Foundation 1136618 600 500
One25 1062391 700 600
Only Connect 1116147 600 500
Open Door Exmouth 1094599 - 900
Open Door Colchester 1101675 500 -
Open Road Visions 1019915 - 825
Orchards 1179459 500 350
Orchard Project 1139952 - 550
Oriel Ministries 1134992 500 -
Orthopaedic Institute Foundation 1044906 800 600
Ovacome 1159682 - 500
Out There 1120342 - 500
Oxfordshire Youth 1151723 450 350
Parkfields Community Centre 1191024 500 -
Parkinson’s Disease Society UK 258197 800 600
Pathway 803639 450 -
Peaches Womb Cancer Trust 1190440 500 -
Pecan 801819 - 600
Penumbra SC010387 - 1,000
Peter Pan Centre 1136915 700 500
Pet Food Bank Service 1179613 500 -
Phab 283931 450 -
Phoenix Social Enterprise 1094101 450 -
PhysioNet 1175932 600 500
PLUS (Forth Valley) Ltd SC003945 500 -
POW Nottingham 1129979 - 400
Pragya UK 1082476 500 350
Pregnancy Centres Network 1164610 500 -
Pregnancy Counselling & Care (Scotland) SC026943 600 -
Prevent Breast Cancer 1109839 - 400
Prisoners' Education Trust 1084718 1,100 1,000
Prison Fellowship 1102254 800 700
Prodigal Bikes 1170845 600 500
Progressive Farming Trust Limited 281276 500 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Providing Hope and Light NIC10891 500 -
PSP Association 1037087 650 -
Public Statues and Sculpture Association 1191384 1,750 1,750
Railway Mission 1128024 - 500
Rare Breeds Survival Trust 269442 500 350
Reach Out 1096492 500 -
Reach Volunteering 278837 1,100 1,000
Re-Cycle 1063570 - 500
Reed’s School Charity Account 1187534 - 750
Refugee Council 1014576 2,000 -
Refugee Support Devon 1143884 500 -
Refugee Support Europe 1174070 500 -
Refugee Survival Trust SC024328 - 500
Refugee Women Connect 1113574 - 500
Religious of Mary Immaculate 238229 600 500
Renewable World 1119467 600 400
Rescare 1112766 500 -
Resolve West 1000641 550 -
Respite Association 1086598 950 850
Restored 1136774 500 -
Restored Hope SC051005 500 -
Ring20 Research and Support UK CIO 1165651 - 300
Riverbank Trust 1143758 - 400
Rowan Armour-Brown Memorial Trust 1102888 500 -
Royal Academy Trust 1067270 205 200
Royal Hospital Chelsea Appeal Ltd 1076414 50 50
Royal Opera House 211775 465 465
RSPB Scotland SC037654 450 -
Rural Coffee Caravan 1187423 600 450
Safe Homes and Kindness 1125159 400 -
Sailors' Children’s Society 224505 750 -
Sailors' & Airmen's Scripture Readers
Association 235708 500 400
Salvation Army 214779 950 750
Sat 7 1060612 500 -
Scottish Bible Society SC010767 500 400
Scottish Cot Death Trust SC003458 500 -
See Kenya 1151951 500 -
Seen Ltd 1148979 500 -
Sefton Support Group 1058183 - 400
Sensory People 1164806 500 -
Sepsis Research SC049399 600 500
Serve 1043321 800 700
Settled 1184580 - 500
________________
- 33 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Sheerness Dockyard Preservation Trust 1160812 500 -
Shine 1082777 1,000 900
Shine A Light Support Service 1171090 500 -
Shopmobility Newport 1187694 500 -
Shrewsbury Ark 1163476 - 550
Shropshire Supports Refugees 1196673 500 -
Shropshire Youth Support Trust 1165108 400 -
Sibs – For Brothers and Sisters 1145200 500 -
Sixty One 1159302 550 450
Skiggle 1185108 - 400
Snowdon Trust 282754 - 500
Snowdrop Project 1158856 500 -
Social Square UK 1156392 500 -
Solar Aid 1115960 500 -
Soldiers’ & Airmen’s Scripture Readers
Association 210760 550 -
South Bristol Advice Services 1066392 - 450
South of Scotland Wildlife Hospital SC025717 - 500
Southampton City Mission 1162099 500 -
Space4Autism 1189689 650 450
Spadework 291198 - 800
Sparkle 1093690 500 -
Speaking Up Speaking Out 1161691 500 -
SPEAR Housing Association 1122206 - 500
Spring Bank Community Association 700591 - 500
Spencer Contact 1070072 1,000 900
Special Stars Foundation 1156237 500 -
Spinal Muscular Atrophy UK 1106815 - 500
Spirit of Peace 1122834 - 500
Spitalfields Crypt Trust 1075947 1,600 1,400
St Albans Museums and Galleries Trust 1051868 - 500
St Cuthbert's Centre 803638 - 500
St Elizabeth’s Centre 176777 500 -
St Francis Youth and Community Centre 1153521 400 -
St Ives Archive 1136882 - 500
St Luke's Healthcare for the Clergy 1123195 - 900
St Martin’s Centre for Health and Healing 1094458 - 400
St Pauls Advice Centre 1083010 500 400
St Thomas’ Anglican Church 1175152 500 -
St Vincent’s Family Project 1142095 800 600
Standout Programmes 1177813 500 -
Starfish Greathearts Foundation 1093862 500 -
Steamship Freshspring Trust 1151907 600 500
Stick ‘n’ Step 1136997 600 500

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023
___________
7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Street Teams 1075862 - 550
STUBS 1128980 600 500
Student Christian Movement 1125640 - 300
Student Life 1180933 600 -
SUDEP Action 1164250 550 500
Suicide Bereavement Support 1184889 500 -
Suffolk Building Preservation Trust 265212 - 500
Sunrise Partnership SC044859 700 500
Sunshine Wishes Children’s Charity SC046697 600 450
Support After Murder and Manslaughter 1000598 500 -
Support Through Court 1090781 700 500
Surrey Drug and Alcohol Care 1151494 450 350
Surviving Economic Abuse 1173256 600 450
Sussex Association for Spina Bifida and
Hydrocephalus 1175032 900 800
Sutton Valence School 1165444 - 1,000
Tackle Prostate Cancer 1163152 500 -
Tailor Ed Foundation SC039426 500 -
Tate Foundation 1085314 1,500 -
Team Jak SC045586 500 -
Tectona Trust 1127573 - 400
Teen Action 1120268 600 500
Terry Wellard - 500 -
The Anchor Society 1167933 800 700
The Bethany Children’s Trust 1073817 - 500
The Bevern Trust 1103520 - 350
The Bren Project 1111644 650 550
The British Institute of Organ Studies 283936 250 250
The British Stammering Association 1089967 750 -
The Camden Psychotherapy Unit 1112967 - 500
The Cedar Tree Trust 1043370 600 500
The Cheer-Up Squad 1139859 - 500
The Children’s Bookshow 1162410 - 1,200
The Compassionate Friends 1082335 - 550
The Counselling Centre 1039911 450 -
The Crossing Point 1159440 600 450
The Crusaders Union 1144923 650 550
The Door Youth Project 1131919 - 550
The Exodus Project 1118191 600 500
The Federation of Children’s Book Groups 268289 - 500
The Georgian Group 209934 250 250
The GRAB Trust SC029154 - 550
The Haemophilia Society 288260 600 500
The Hardman Trust 1042715 - 650

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023
___________
7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
The House on the Corner Community
Project 1107670 650 550
The Joy Foundation 1133292 600 500
The Leprosy Mission 1050327 1,500 1,350
The Light House Christian Care Ministry Trust1064132 900 700
The Light of the World Community Centre 1127877 - 350
The Living Rooms 1175541 500 -
The Margins Project 1153070 800 700
The Miracle Foundation SC049840 - 500
The Mission to Seafarers Scotland SC041938 600 -
The National Army Museum 237902 - 45
The Olive Branch 1186017 750 -
The Olive Tree Cancer Support Group 1157386 450 400
The Onslow Neighbourhood Association 264296 500 -
The Oxford Pastorate 1136848 500 -
The PACE Centre 1011133 - 500
The Parish Trust 1186996 500 -
The Ridge SCIO SC047116 - 500
The Romney Marsh Historic Churches Trust
284909		 500 -
The Separated Child Foundation 1120669 600 -
The Sick Children's Trust 284416 1,100 950
The Sofa Project 287088 600 -
The Spires Centre 1076888 800 800
The Spitz Charitable Trust 1155033 500 -
The Tuberous Sclerosis Association 1039549 - 350
The Upper Room 1004354 - 500
The Welcome Directory 1169014 - 500
The Wellbeing Project 239606 - 500
The Wheelyboat Trust 292216 450 350
Think Children 1146301 - 650
Thomas Theyer Foundation 1161913 500 -
Thorney Island Society 1000751 - 100
Through the Roof 1087788 650 550
Tibet Relief Fund 1061834 700 700
Time Out Group 1161863 - 500
Tiny Changes SC049112 500 -
Tiyeni 1113274 500 450
Tom’s Trust 1183559 500 -
Torch Trust for the Blind 1095904 500 -
Tough Enough to Care 1187404 - 500
Tourettes Action 1003317 600 500
Tower Hamlets Mission 1154842 1,100 1,000
Transparency International 1112842 - 500
Trauma Breakthrough 1150508 - 350

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023 FOR THE YEAR ENDED 5 APRIL 2023
___________
7 Charitable Donations (continued) Registered 2023 2022
Charity No £ £
Trauma Foundation South West 1146885 700 -
Tree Aid 1135156 650 550
Treloar Trust 1092857 900 -
Tutorfair Foundation 1157781 500 -
UK Veterans Hearing Foundation 1188611 500 -
Universal Ease to Redress 1128709 500 -
Unseen 1127620 600 500
Uttlesford Community Travel 1072529 - 350
Vics in the Community SC048328 - 350
Victoria and Albert Museum 1144508 330 330
VocalEyes 1067245 400 -
Volunteering in Health 1182615 - 400
Volunteering Matters 291222 - 450
Walk Ministries 1168547 - 400
Walsall Bereavement Support Service 1152724 - 500
Walthew House 1167749 - 500
War Memorials Trust 1062255 - 700
Warwickshire Social Inclusion Partnership 507063 400 -
Warwickshire Young Carers 1098357 500 -
Watt’s Gallery Trust 313612 - 450
Waves Seaford 1118771 400 -
Welcome to Our Future 1075371 500 -
Wellspring Counselling Ltd 1042995 600 500
Welwyn Hatfield Women’s Refuge and
Support Services 1156186 500 -
West Hampstead Women’s Centre 1085824 - 400
West Lothian 50 Plus Network SC024257 - 450
Wetherby in Support of the Elderly 1163698 550 500
Whitby Hidden Impairments Support and
Help 1160390 350 -
Wiener Holocaust Library 313015 450 -
Wikimedia UK 1144513 350 300
Willow Foundation 1106746 500 -
Willow Trust 328386 - 450
Wintercomfort for the Homeless 1003083 500 -
Without Walls 1119209 500 350
Womankind 297258 - 600
Woman’s Trust 1143513 600 400
Women and Children First 1085096 500 -
Women on the Frontline Ministries 1150842 - 450
Women's Aid 1054154 450 -
World Land Trust 1001291 700 -
World Monuments Fund 1126578 350 -
World Villages for Children 1058973 700 600

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7
Charitable Donations (continued)
Registered
Charity No
World Without Orphans Europe
1187106
Worth
1172703
Wotton-Under-Edge Historical Society
291936
Wymondham Youth Bus
1156941
Ykids Ltd
1141530
YMSO
1075134
Young and Inspired
1145639
Young Carers Development Trust
1150197
Young Lewisham Project
1118469
Young Roots
1139685
You Raise Me Up
1147534
Your Park Bristol and Bath
1182217
Your Place London
1147794
Youth Moves
1168519
Zoological Society of London
208728
Various donation cheques not being banked		 2023
£
-
-
500
-
700
800
-
500
-
500
600
500
800
-
159
-
296,539		 2022
£
500
500
400
500
550
700
550
-
450
-
500
-
-
500
152
(380)
261,955

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year but were reimbursed a total of £3,280 (2022 - £862) 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:

Number of employees
The average monthly number of employees		 during the year were:
2023 2022
Number Number
Trust administrators 3 3

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

___________
9
Employees (continued)
Employment costs
Wages and salaries

Social security costs
Other pension costs
 _____
2023
£
153,067
21,203
13,167
187,437		 _
2022
£
143,667
14,409
11,366
169,442
There was one employee (2022: 1) whose annual remuneration was £60,000 or more. £60,000 or more.
10 Awards 2023 2022
£ £
Charles Darwin Award and Marsh Prize 1,000 1,000
Lucy Mair Medal and Marsh Prize 1,000 1,000
Marsh Award for Achieving Impact Through Innovation - 500
Marsh Award for Anthropology in the World 1,000 1,000
Marsh Award for Church and Community Heroes 3,750 1,000
Marsh Award for Climate Change Research 1,000 1,000
Marsh Award for Community Archaeologist 250 -
Marsh Award for Community Archaeology Project 1,000 -
Marsh Award for Conservation Biology 1,000 1,000
Marsh Award for Conservation in Genetic Biodiversity 1,500 1,500
Marsh Award for Early Career Conservationist 2,000 2,000
Marsh Award for Ecologists in Africa 2,000 2,000
Marsh Award for Education in Botanic Gardens 1,000 1,000
Marsh Award for Excellence in Public Fountains - 1,500
Marsh Award for Excellence in Public Sculpture 1,750 1,750
Marsh Award for Excellence in the Conservation of a Public Fountain
or Sculpture 1,000 1,000
Marsh Award for Excellence in Visual Arts Engagement 4,000 -
Marsh Award for Innovative Ornithology 1,000 1,000
Marsh Award for International Ornithology - 1,000
Marsh Award for International Plant Conservation 1,000 1,000
Marsh Award for International Wetland Conservation 1,000 1,000
Marsh Award for Leadership and Innovation in Nature Restoration 875 875
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 10,000 3,000

-39 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

10 Awards (continued) 2023 2022
£ £
Marsh Award for Museum of London Volunteers 1,100 -
Marsh Award for Ornithology 1,000 1,000
Marsh Award for Outstanding Contribution to the Fight Against
Modern Slavery 4,000 4,000
Marsh Award for Peacemaking and Peacekeeping - 1,500
Marsh Award for RBST Volunteer of the Year 500 500
Marsh Award for ShipShape Project Volunteers - 500
Marsh Award for Terrestrial Conservation Leadership 4,000 4,000
Marsh Award for the Encouragement of Medallic Art 1,000 1,000
Marsh Award for Unsung Heroes 875 875
Marsh Award for Volunteering in Support of Older People 1,550 -
Marsh Award for Volunteering with The Arts Society 3,000 2,500
Marsh Award for Volunteering with Royal Botanic Gardens Kew 1,000 1,000
Marsh Award for Wetland Conservation 2,000 2,000
Marsh Award for Wildlife Conservation 1,000 -
Marsh Award for Young Ornithologist of the Year 500 500
Marsh Award for Youth Archaeologist 250 -
Marsh Award for Youth Archaeology Project 1,000 -
Marsh Awards with Barnardo’s 9,200 9,600
Marsh Botany Award 1,000 1,000
Marsh Director’s Choice Publication Award 1,000 -
Marsh Ecology Award 1,000 1,000
Marsh Ecology Book of the Year Award 1,000 1,000
Marsh Entomology Award 3,000 3,000
Marsh European Lepidoptera Award 500 -
Marsh Heritage Crafts Trainee Award 1,000 1,000
Marsh Heritage Crafts Trainer Award 1,000 1,000
Marsh Heritage Crafts Volunteer Award 1,000 1,000
Marsh Horticultural Science Award 2,000 1,500
Marsh IHBC Award for Community Contribution 500 500
Marsh IHBC Award for Successful Learning in Heritage Skills 500 500
Marsh Lepidoptera Publication of the Year Award 500 -
Marsh Lifetime Achievement in Lepidoptera Award 500 -
Marsh Lifetime Achievement Award with RBST 500 500
Marsh Maker of the Year Award 1,000 1,000
Marsh Marjan Award 1,000 1,000
Marsh RAI Film Award - 500
Marsh Recovery Awards 2,000 2,000
Marsh Refugee Volunteer Award 6,400 4,800
Marsh Team Volunteer Award for Historic Vessel Conservation 1,000 1,000
Marsh Team Volunteer Award with the Church Recording Society 750 -
Marsh Visiting Lecturer Award 1,500 -
Marsh Volunteer Award for Historic Vessel Conservation 1,750 1,000
Marsh Volunteer Awards with Home-Start 2,300 -

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

10
Awards (continued)
Marsh Volunteer Award for Lasting Impact
Marsh Volunteer Award for Long Service
Marsh Volunteer Award for Marine Conservation
Marsh Volunteer Award with the Association of Science and
Discovery Centres
Marsh Volunteer Award with the Canal and River Trust
Marsh Volunteer Award with the Church Recording Society
Marsh Volunteer Award with the Churches Conservation Trust
Marsh Volunteer Award with the Kent Wildlife Trust
Marsh Volunteer Award with the Prison Advice and Care Trust
Marsh Volunteer Award with St Mungo’s
Marsh Volunteer Award with WAWY
Marsh Volunteers for Museum Learning Award
Marsh Young Volunteer Award for Marine Conservation
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		 2023
£
-
-
1,500
500
6,000
500
3,500
2,050
2,000
7,550
2,500
7,500
500
600
600
1,200
-
144,300		 2022
£
500
500
2,000
-
2,000
-
3,000
2,150
2,400
-
2,500
8,000
500
300
600
1,200
1,700
110,750

11 Heritage assets

Fixed asset investments in note 12 include £92,000 (2022 - £92,000) relating to an investment in The Marsh Paper Museum. This represents a collection of over 40,000 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 885 ring binders with approximately 40,523 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 2023

12
Fixed assets investments
Quoted
Unquoted
Other
securities
securities investments
£
£
£
Market value at 6 April 2022
11,138,949
6,899,212
92,000
Disposal at opening book value
(1,632,855)
(839,740)
-
Acquisitions at cost
784,911
2,323,478
-
Change in value in the year
(532,098)
(215,954)
-
Market value at 5 April 2023
9,758,907
8,166,996
92,000
Historical cost:
At 5 April 2023
6,250,121
5,928,917
-
At 5 April 2022
5,122,273
4,741,943
-		 Total
£
18,130,161
(2,472,595)
3,108,389
(748,052)
18,017,903
12,179,038
9,864,216

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		 2023
£
9,626
1,422
11,048		 2022
£
9,626
548
10,174

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

14
Creditors: amounts falling due within one year
Trade creditors
Accruals
Taxes and social security costs
Other creditors		 2023
£
40,973
69,475
7,036
1,291
118,775		 2022
£
-
67,385
9,797
1,177
78,359

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.

2023
£
Contributions payable by the trust for the year
12,767
16
Analysis of net assets between funds
Income funds Capital funds
£
£
Funds balances at 5 April 2023
are represented by:
Intangible fixed assets
-
-
Tangible fixed assets
1,249
-
Investments
-
18,017,903
Current assets
183,359
201,383
Creditors: amounts falling due
within one year
(118,775)
__-
65,833
18,219,286		 2022
£
11,200
Total
£
-
1,249
18,017,903
384,742
(118,775)
18,285,119

MARSH CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

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 2023 total administration charges paid by the trust to the company were £43,600 (2022 - £40,800), and at 5[th] April 2023 the trust owed B P Marsh and Company Limited £40,800 (2022 - £nil).

During the year the trust also received donations from Brian Marsh totalling £900,000 (2022 - £666,338) in the form of gifts.

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