| Legal and administrauve information | 2 |
|---|---|
| Trustees’ report | 3-5 |
| Statement ofTrustees’ responsibilities in respect ofthe Trustees’ report and the financial | 6 |
| statements | |
| Independentauditor’s report to the Trustees ofThe Privy Purse Charitable Trust | 7-10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement ofCash Flows | 13 |
| Notes | 14-22 |
| Note | Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|---|
| funds | funds | Funds | funds | ||
| 2025 | 2025 | 2024 | 2024 | ||
| £ | £ | £ | |||
| Income from: | |||||
| Donations | 2 | 813,276 | 813,276 | 886,246 | 886,246 |
| Investments | 3 | 196,821 | 196,821 | 242,550 | 242,550 |
| Total incoming resources | 1,010,097 | 1,010,097 | 1,128,796 | 1,128,796 | |
| Expenditure on: | |||||
| Raising Funds: | |||||
| Investment management fee | 11,504 | 13,504 | 7,895 | 7,895 | |
| Charitable activities: | |||||
| Ecclesiastical | 334,406 | 334,406 | 254,694 | 254,694 | |
| Education | 129,031 | 129,031 | 725,323 | 725,323 | |
| Other | 307,195 | 307,195 | 425,943 | 425,943 | |
| 1 | 770,632 | 770,632 | 1,405,960 | 1,405,960 | |
| Total resources expended | 784,116 | 784,136 | 1,411,855 | 1,411,855 | |
| Net incoming / (outgoing) resources and | |||||
| movement in fund before net (loss) / gain on investments |
225,961 | 225,961 | (285,059) | (285,059) | |
| Net (loss)! gain on investments | 5 | (51,383) | (51,383) | 284,631 | 284,631 |
| Net incoming / (outgoing) resources and movement in fund |
174,578 | 174,578 | (428) | (428) | |
| Fund balance brought fonvard at 1 April | 5,073,236 | 5,073,236 | 5,073,664 | 5,073,664 | |
| Fund balance carried forward at 31 March | 5,247,814 | 5,247,814 | 5,073,236 | 5,073,236 |
| Nofi | |||
|---|---|---|---|
| 2025 | 2024 | ||
| L | |||
| Fixed assets | |||
| Investments | 5,783,537 | 5,526,275 | |
| Current assets | |||
| Receivables | 7 | 66,490 | 6,246 |
| Cash and cash equivalents | 178,256 | 614,834 | |
| Current Liabilities | |||
| Pavables: amounts falling due within one year | 8 | (436,346) | (517,118) |
| Net current (liabilities)/ assets | (191,600) | 103.962 | |
| Liabilities | |||
| Payables: amounts falling due after more than one year | 9 | (344,123) | (557,001) |
| Net assets | 5,247,814 | 5,073,236 | |
| Funds | |||
| Unrestricted funds | 5,247,814 | 5,073,236 | |
| 5,247,814 | 5,073,236 |
| Statement ofCash Flows At 31 March |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Cash flows from operating activities: | ||
| Net incoming! (outgoing) resources | 174,578 | (428) |
| AdjustmentsIon | ||
| Net loss / (gain) on investments | 51,383 | (284,631) |
| Investment income | (196,821) | (242,550) |
| Investment management fee | 13,504 | |
| Decrease! (Increase in receivables | 2,552 | (4,645) |
| (Decrease)! Increase in payables | (293,650) | 634,256 |
| Net cash (outflow)! generated by operating activities | (248,454) | 102,002 |
| Cash flows from investing activities: | ||
| Investment income received net of fees | 178,678 | 242,500 |
| Proceeds from sale ofinvestments | 5,832,830 | - |
| Purchase ofinvestments | (6,199,632) | - |
| Movement in investment! cash proportion | - | (146,728) |
| Net cash (outflow)! generated by investing activities | (188,124) | 95,822 |
| Change in cash and cash equivalents in the year | (436,578) | 197,824 |
| Cash and cash equivalents as at 1 April 2024/ 2023 | 614,834 | 417,010 |
| Cash and cash equivalents as at 31 March 2025 / 2024 | 178,256 | 614,834 |
| Analysis ofcash and cash equivalents | ||
| 2025 | 2024 | |
| £ | ||
| Cash at bank and in hand | 178,256 | 125,734 |
| Cash held by investment managers | 489,100 | |
| 178,256 | 614,834 |
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Queen Mary’s Dolls’ Flouse | 790,354 | 772,749 |
| Oxford Scientific Films | 930 | |
| Spun GoldTV | 344 | 33,899 |
| Other Donations | 22,578 | 78,668 |
| 813,276 | 886,246 |
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| UK Listed Investments | 180,582 | 223,590 |
| Bank interest | 16,239 | 18,960 |
| 196,821 | 242,550 | |
| 4 Charitable donations |
||
| The followingdonations over £20,000 were made during the year: | ||
| 2025 | 2024 | |
| £ | £ | |
| The King’s Scholarship Fund | 100,000 | - |
| Sandringham Group ofParishes (Ecclesiastical) | 96,180 | 87,641 |
| Chapel Royal — 1-lampton Court Palace (Ecclesiastical) |
55,374 | 67,468 |
| Chapel Royal — StJames’s Palace (Ecclesiastical) |
47,596 | 49,988 |
| Chapel Royal — \Vindsor Great Park (Ecclesiastical) |
42,506 | 21,176 |
| City ofLondon School (Chapel Royal — StJames’s Palace Choristers) |
19,526 | 685,994 |
| Chapel Royal — Windsor(lie King’s Choristers) |
1,505 | 31,187 |
| Crathie Kirk Church (Restoration ofChurches) | - | 50,900 |
| \Vest Newton Church (Restoration ofChurches) | - | 50,900 |
| 362,687 | 1,045,254 |
| Charitable | Support | 2025 | 2024 | ||
|---|---|---|---|---|---|
| Donations | Costs | Total | Total | ||
| No. | £ | £ | £ | £ | |
| Ecclesiastical | 40 | 334,406 | 1,555 | 335,961 | 254,694 |
| Education | 4 | 129,031 | 154 | 129,185 | 725,323 |
| Other | |||||
| Aged | 15 | 7,900 | 583 | 8,483 | 9,554 |
| Animals | 20 | 10,050 | 777 | 10,827 | 7,592 |
| Armed Services | 43 | 22,800 | 1,671 | 24,471 | 17,125 |
| Children & Youth | 37 | 21,200 | 1,438 | 22,638 | 19,234 |
| Cultural | 20 | 36,010 | 777 | 36,787 | 18,908 |
| Disabled | 20 | 10,050 | 777 | 10,827 | 8,039 |
| Environment | 10 | 9,592 | 389 | 9,981 | 10,191 |
| Family Welfare | 9 | 10,000 | 350 | 10,350 | 38,799 |
| Hospices & Hospitals | 11 | 6,850 | 428 | 7,278 | 8,318 |
| Medical Research | 8 | 4,000 | 31 1 | 4,311 | 4,324 |
| Medical Welfare | 13 | 8,314 | 506 | 8,820 | 7,109 |
| Overseas Aid | 7 | 44,500 | 272 | 44,772 | 36,183 |
| Restoration ofCathedrals & Churches | 2 | 4,532 | 78 | 4,610 | 102,838 |
| Royal Almonry | - | - | - | - | 8,731 |
| Social Welfare | 19 | 66,615 | 739 | 67,354 | 102,213 |
| Sport | 21 | 10,500 | 816 | 11,316 | 10,586 |
| Trades & Professions | 29 | 18,300 | 1,127 | 19,427 | 13,766 |
| Voluntary Services | 6 | 3,000 | 234 | 3,234 | 2,433 |
| 334 | 757,650 | 12,982 | 770,632 | 1,405,960 |
| 5 | Investments | ||||
|---|---|---|---|---|---|
| Cost at | Market Value | Cost at | Market Value | ||
| 31 March | at 31 March | 31 March | at 31 March | ||
| 2025 | 2025 | 2024 | 2024 | ||
| £ | £ | L | L | ||
| UK listed investments | 5,946,161 | 5,783,537 | 6,416,135 | 5,526,275 | |
| Cash | held by investment manager | 480,100 | 489,100 | ||
| 5,946,161 | 5,783,537 | 6,905,235 | 6,015,373 |
| 2025 | |
|---|---|
| £ | |
| Opening market value ofUK listed investments | 5,526,275 |
| Cash held by investment manager | 489,100 |
| \‘(‘ithdcawals | (6,499,632) |
| Purchases | 6,199,632 |
| Investment income reinvested net ofcosts | 119,545 |
| Net loss on investments | (51,383) |
| Closing marketvalue ofUK listed investments | 5,783,537 |
| 7 Receivables |
||
|---|---|---|
| 2025 | 2024 | |
| Receivables | 66,490 | 6,246 |
| 8 Current liabilities: amounts falling due within one year |
||
| 2025 | 2024 | |
| £ | L | |
| Other donations payable | 208,899 | 133,552 |
| Chorister bursan and scholarship funding payable (note 9) | 161,244 | 171,609 |
| Accruals and Other Creditors | 37,766 | 65,426 |
| Trade Creditors | 28,437 | 146,531 |
| 436,346 | 517.118 |
| A reconciliation ofother donations payable is included below. | |
|---|---|
| 2025 | |
| £ | |
| At 1 April | 133,552 |
| Amount paid in the year | (82,652) |
| Net charge to the Statementof Financial Activities | 157,999 |
| At 31 March | 208,899 |
| 2025 | 2024 | ||
|---|---|---|---|
| £ | L | ||
| Donations | payable | 344,123 | 557,001 |
| 2025 | 2024 | |
|---|---|---|
| £ | L | |
| At 1 April | 728,610 | 150,024 |
| Amount paid in the year | (164,273) | (155,279) |
| Net (credit/ charge to the Statement ofFinancial Activities | (58,970) | 645,865 |
| At 31 March | 505,367 | 728,610 |
| Donations payable at 31 March | ||
| Due within one year (note 8) | 161,244 | 171,609 |
| Due after more than one year | 344,123 | 557,001 |
| 505,367 | 728,610 |
| 10 | Analysis ofchanges in net debt | |||
|---|---|---|---|---|
| 1April | Cash | 31 March | ||
| 2024 | flows | 2025 | ||
| £ | £ | £ | ||
| Cash | and cash equivalents | 614,834 | (436,578) | 178,256 |
| Opening | Income | Expenditure | Gains / | Closing | |
|---|---|---|---|---|---|
| balance at | (losses) | balance at | |||
| 1April | 31 March | ||||
| 2024 | 2025 | ||||
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | 5,073,236 | 1,010,097 | (901,148) | (51,383) | 5,110,802 |
| Year ended 31” March 2024 | |||||
| Opening | Income | Expenditure | Gains / | Closing | |
| balance at | (losses) | balance at | |||
| 1 April | 31 March | ||||
| 2023 | 2024 | ||||
| £ | £ | £ | £ | ||
| Unrestricted Funds | 5,073,664 | 1,128,796 | (1,413,855) | 284,631 | 5,073,236 |
| Balance at year | Balance at year | Transactions in | Transactions in | Details oftransacdon | |
|---|---|---|---|---|---|
| end | the | year | |||
| £ | 2025 | 2024 | 2025 | 2024 | |
| Royal Collection | Donation ofincome from RCT, net of | ||||
| Trust (RCT) | (7,335) | (3,564) | 790,354 | 772,749 | expenses, from the admission to Queen |
| Mar’s Dolls’ I louse.\indsor Castle. | |||||
| Privy Purse (PP) | Recharge for Maundv Purses. The dates | ||||
| - | (8.495) | - | (8,495) | for Maundy 2025 fell outside ofFY24- | |
| 25. | |||||
| historic Royal Palaces | (27,423) | (39,694) | (27,423) | (39,694) | lgor salaries of shared |
| 1-IM Chapel Royal, St. | Recharge for salaries ofshared | ||||
| James’s Palace | (203) | (829) | (203) | (829) | employees and flower expenditure. |
| J INICR) | |||||
| Thlitan’ Knights of \indsor (NIK\) |
- | - (3a0) |
(500) | - (30) |
Donation made annually. - |
| Treasurer to The king Q[Tk |
— | (6,000) | (3tH I8 | Recharge for rent, utilities and flower expenditure relating to I INICR. |