## **SANDRA CHARITABLE TRUST**
**FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2025 CHARITY NO: 327492**
## **SANDRA CHARITABLE TRUST**
## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
## **Contents**
||**Page**|
|---|---|
|Reference and administration information|1|
|Report of the Trustees|2 - 6|
|Report of the Independent Auditor|7 - 9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Statement of Cash Flow|12|
|Notes forming part of the Financial Statements|13 - 21|
**SANDRA CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATION DETAILS**
________________________________________________________________________________
|**Trustees**|Richard Moore|
|---|---|
||Michael Macfadyen|
||Francis Moore|
||Lucy Forsyth|
|**Principal Office**|Moore Family Office Limited|
||42 Berkeley Square|
||London|
||W1J 5AW|
|**Bankers**|National Westminster Bank plc|
||Finsbury Square Branch|
||PO Box 549|
||78 Finsbury Pavement|
||London|
||EC2A 1JA|
|**Investment Managers**|W1M (formerly Waverton Investment Management Limited)|
||16 Babmaes Street|
||London SW1Y 6AH|
||Evelyn Partners|
||45 Gresham Street|
||London|
||EC2V 7BG|
|**Accountants**|Moore Family Office Limited|
||42 Berkeley Square|
||London|
||W1J 5AW|
|**Auditor**|R E Jones & Co|
||132 Burnt Ash Road|
||Lee|
||London|
||SE12 8PU|
|**Legal Advisors**|Charles Russell Speechlys LLP|
||5 Fleet Place|
||London|
||EC4M 7RD|
- 1 -
**SANDRA CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
The Trustees present their report along with the financial statements of the Charity for the year ended 30 June 2025. The financial statements have been prepared in accordance with the accounting policies set out on pages 13-14 and comply with the Charity’s Trust Deed, the Charities Act 2011 (s4) and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.
## **Structure, Governance and Management**
Sandra Charitable Trust is an unincorporated registered Charity, established under a governing Deed of Trust dated 29 June 1987. Michael Macfadyen and Richard Moore are both original Trustees of the Charity. Francis Moore was appointed on 22 May 2014 and Lucy Forsyth was appointed on 27 January 2015. The four Trustees are considered to be the Key Management Personnel of the Charity and are actively involved in the administration.
Trustees serve an indefinite term based on their relative experience and contribution to the Charity as a whole. The Trustees keep the skill requirements of the Trustee body under review and in the event that a Trustee retires or additional new Trustees are required, the existing Trustees will collectively discuss the change. There is no formal induction or training of new Trustees. However, appointment would be by nomination and the Trustees would review the skills of each nominated person to select members with the relevant experience and skills.
On the agreement of all existing Trustees, a new Trustee may be recruited. The background to the Charity would be provided to the prospective new Trustee before appointment and further information would then be shared at the regular Trustees’ meetings throughout the year. This information would include a brief history of the Charity, a copy of the previous year’s Financial Statements, a copy of the previous Trustees’ Minutes, and a copy of the governing Trust Deed.
The Trustees are kept up to date on new issues through their own professional expertise and under advice from the Secretary and the other professional advisors to the Charity. The Trustees meet regularly throughout the year and agree the broad strategy and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. The day to day administration of grants and the processing and handling of applications prior to the consideration of the Trustees is delegated to the Secretary to the Trustees.
All Trustees give of their time freely and no Trustee remuneration or expenses were paid in the year. Trustees are required to disclose all relevant interests and in accordance with the Charity’s policy withdraw from decisions where a conflict of interest arises.
## **Risk management**
The Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The major risks identified by the Trustees are the volatility of investment returns on the managed portfolios and the proper use of the grants made by the Charity each year.
- 2 -
**SANDRA CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
## **Objects, Objectives and Principal Activities for the public Benefit**
Under the terms of the Deed, the Trustees have discretion to pay or apply the Trust Fund or the income thereof to such purposes or objects which are from time to time recognised as exclusively charitable according to the laws of England and Wales. The Trustees confirm that they have complied with the duty in section 4 of the 2011 Charities Act to have due regard to the guidance published by the Charity Commission, including that on public benefit, and when reviewing the Charity’s aims and objectives and in planning future activities and setting the grant making policy for the year.
The aims of the Charity are:
- To support a wide variety of beneficiaries including nurses and charities involved in animal welfare and research, environmental protection, relief of poverty and youth development.
- To maintain resources at a reasonable level in order to continue to provide general charitable assistance in the foreseeable future.
The main objectives for the year are shaped by these strategic aims with a view to continue funding chosen general charitable causes in line with the Trust Deed.
The Charity carries out these aims and objectives by:
- Providing funding to recognised charitable institutions.
- Providing donations to other registered charitable organisations which provide research, support and care for the benefit of the public as a whole.
- Providing financial assistance to nurses and those studying to become nurses.
## **Grant making policy**
The Charity has established its grant making policy to achieve its objectives for the benefit of the public in general.
The Trustees review their grant making policy on an ongoing basis with three mains factors in mind:
1. To monitor the level of the administrative costs of the Charity in the making of donations.
2. To effectively increase the amount of distributable income.
3. To be able to increase the amount of support to those causes for which the Trustees assess the Charity’s donations provide a significant social reward.
The Trustees also receive numerous requests for funding from nurses and those studying to be nurses. Assistance is given to those suffering financial hardship and those requiring financial support in order to complete their studies. All such applications for funding are processed and liaison with the potential beneficiaries arranged on a voluntary basis as necessary. The funding given by the Trustees to nurses helps to provide the tools and expertise for the nursing sector with an aim to these resources being put into practice for the benefit of the public.
- 3 -
**SANDRA CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
## **Achievements and Performance**
The Trustees try to predict the level of income that they expect to receive each year so that they can plan the level of grants for each financial year. The total income of the Charity was £89,223 higher than the previous year. The Trustees set the Investment Managers cash targets rather than yield targets. These cash targets equate to the sum the Trustees intend to spend annually on worthy causes, in this way the Trustees feel they have greater control over the commitments which they make.
The Trustees provide assistance to charities where the Trustees believe that the grants will have a real and direct effect on the underlying needs which, in turn, furthers the Trust’s charitable purposes. A special area of help is given to those who are training to be nurses and are in need of financial assistance. Since inception grants have been given to approximately 1,000 different charities, and in the special area relating to nurses over 3,000 grants have been made to different nurses. During the year ended 30 June 2025 grants of £620,500 were provided to charities and £92,798 was provided to nurses in training.
## **Financial Review (including Reserves Policy)**
The Charity is reliant on the income from its investments. The Charity’s income during the year ended 30 June 2025 comprised dividends and interest totalling £819,592 (year ended 30 June 2024: £730,369) and voluntary income of £350,000 (year ended 30 June 2024: £350,000).
The Trustees allocated £858,945 (year ended 30 June 2024: £935,973) towards charitable activities from the Unrestricted Fund as follows:
|Donations to Organisations
Donations to Individuals
Governance Costs|Income
Fund
620,500
92,798
145,647
858,945
|Capital
Fund
-
-
-
-
|Total
620,500
92,798
145,647
858,945
|
|---|---|---|---|
|||||
The governance costs of the Charity for the year ended 30 June 2025 were £145,647 (year ended 30 June 2024: £133,544).
The Trustees report an income surplus of £310,653 for the year ended 30 June 2025 (year ended 30 June 2024: surplus of £148,916) before brought forward balances.
The Trustees have a balanced investment policy and aim to maintain free reserves in unrestricted funds at a level which is sufficient to wholly distribute the income of the Trust Fund for the year whilst retaining capital for the maintenance and growth of the Fund.
## **Investment Policy and Performance**
The Charitable Trust Deed confers upon the Trustees wide powers of investment, in all respects, as if they were absolute owners beneficially entitled to the underlying assets. At present the Charity’s funds comprise listed securities (investment portfolios held with W1M and Evelyn Partners).
- 4 -
**SANDRA CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
## **Investment Policy and Performance (continued)**
Trust monies requiring investment under the Trust may be invested in the purchase of such stocks, funds, shares, securities or other investments of whatsoever nature as the Trustees shall in their absolute discretion think fit. The Trustees shall have the same full and unrestricted powers of investing and converting investments in all other respects as if they were absolutely entitled to the Trust Fund beneficially.
W1M have arranged, with the approval of the Trustees, the appointment of RBC Dexia Investor Services to hold investments as portfolio custodians on behalf of the Charity. Evelyn have arranged, with the approval of the Trustees, the appointment of Pershing Securities Limited to hold the investments as portfolio custodians on behalf of the Charity.
The Trustees’ policy is to invest the funds available in a secure market, endeavouring to obtain a reasonable income, compatible with protection of the capital value involved and taking into account inflationary factors. With this in mind, the Trustees have retained W1M and Evelyn Partners to guide and act for them on a professional basis. The Trustees monitor the performance of the investments in line with their short and long term aims and objectives, as well as undertaking regular reviews with the investment managers on a rotational basis at the Trustees’ meetings throughout the financial year.
Investments are shown at market value rather than book cost in accordance with the Statement of Recommended Practice: Accounting by Charities. In the year to 30 June 2025, the Charity made a net realised gain on disposal of listed investments of £710,726 year ended 30 June 2024: £1,086,023) and an unrealised gain on listed investments of £444,186 (year ended 30 June 2024 a gain of: £2,494,581).
The Trustees confirm that the Charity’s assets are sufficient to fulfil its obligations in respect of unrestricted funds and that all investments held by them on behalf of the Charity have been acquired in accordance with the powers available to them under the Trust Deed.
## **Plans for the future**
The Trustees will continue to aim to fully distribute the income of the Unrestricted Fund each year and any income surplus brought forward whilst maintaining the capital of the Fund. The resources available for charitable purposes for the next year (to 30 June 2026) are expected to be around £1.15m. The Trustees are aiming to distribute all of their income during the year ending 30 June 2026.
The Trustees will continue to direct the Charity’s funds to general charitable causes which they think fit as laid out in the governing Trust Document.
- 5 -
**SANDRA CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
## **Trustees’ responsibilities in relation to the Financial Statements**
The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees following best practice and:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed. The Trustees 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.
Approved by the Trustees, and signed on their behalf on 17 April 2026 by:
Richard Moore Trustee
- 6 -
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF SANDRA CHARITABLE TRUST**
________________________________________________________________________________
## **Opinion**
We have audited the financial statements of the Sandra Charitable Trust (the 'charity') for the year ended 30 June 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice.
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 30 June 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **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 charity's ability to continue as a going concern for a period of at least twelve 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 annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
- 7 -
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF SANDRA CHARITABLE TRUST**
________________________________________________________________________________
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) regulations 2008 requires us to report to you if, in our opinion:
- sufficient accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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:
## **Capability of the audit in detecting irregularities, including fraud**
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.
Based on our understanding of the charity and industry, and through discussion with the trustees and other managers (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act, Charities SORP (FRS 102), taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alter to any indications of non-compliance throughout the
- 8 -
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF SANDRA CHARITABLE TRUST**
________________________________________________________________________________
audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates. Audit procedures performed by the engagement team included:
- Discussions with Trustee’s and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and
- Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and
- Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions that may indicate risks of material misstatements due to fraud; and
- Identifying and testing journal entries, in particular any manual entries made ate year-end for financial statement preparation.
There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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 or intentional misrepresentations, or through collusion.
## **Prior year corresponding figures**
The corresponding figures have not been audited, but as part of our audit procedures, these figures have been found to be reasonable.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members 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 and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Stephen Jones FCA, FCCA (Auditor)**
For and on behalf of R E Jones & Co Chartered Accountants and Statutory Auditor 132 Burnt Ash Road London SE12 8PU
Date: 17 April 2026
- 9 -
## **SANDRA CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025**
________________________________________________________________________________
|**Notes**
**Income and endowments from:**
Donations and legacies
2
Investments
3
**Total**
**Expenditure on:**
Investment Management Fees
Charitable activities
Activities undertaking
5
Support costs
6
**Total**
**Net income/(expenditure) before**
**Investment gains/(losses)**
Net gains on investments
7
Net (losses)/gains on foreign exchange
**Net income**
Total funds at 1 July 2024
**Total funds at 30 June 2025**|**Income**
**Account**
**£**
350,000
819,598
1,169,598
-
713,298
145,647
858,945
310,653
-
-
310,653
73,077
383,730|**Capital**
**Account**
**£**
-
(6)
(6)
132,632
-
-
132,632
(132,638)
1,154,912
(35)
1,022,239
29,483,156
30,505,395|**2025**
**£**
350,000
819,592
1,169,592
132,632
713,298
145,647
991,577
178,015
1,154,912
(35)
1,332,892
29,556,233
30,889,125
|**2024**
**£**
350,000
730,369
1,080,369
115,197
802,429
133,544
1,051,170
29,199
3,580,604
17
3,609,820
25,946,413
29,556,233|
|---|---|---|---|---|
All funds are unrestricted and relate to continuing activities.
The notes on pages 13 to 20 form part of these financial statements.
- 10 -
## **SANDRA CHARITABLE TRUST**
## **BALANCE SHEET AS AT 30 JUNE 2025**
________________________________________________________________________________
|**Notes**
**Fixed Assets**
Investments
7
**Current Assets**
Cash at bank and in hand
8
**Liabilities**
Creditors: amounts falling due within
one year
9
Net current assets
**Total net assets**
**Unrestricted Funds**
Capital Account
Income Account|**2025**
**£**
**£**
30,420,523
528,107
(59,505)
468,602
30,889,125
30,505,395
383,730
30,889,125|**2024**
**£**
**£**
29,313,569
306,423
(63,759)
242,664
29,556,233
29,483,156
73,077
29,556,233|
|---|---|---|
Approved by the Trustees, and signed on their behalf on 17 April 2026 by:
**Richard Moore** Trustee
The notes on pages 13 to 20 form part of these financial statements.
- 11 -
## **SANDRA CHARITABLE TRUST**
## **STATEMENT OF CASH FLOW**
________________________________________________________________________________
|**Notes**
**Net cash used in operating activities**
10
**Cash flow from investing activities:**
Interest received
Investment income received
Voluntary income received
Foreign exchange (loss)/gain
Payments to acquire investments
Receipts from the disposal of investments
**Net cash provided by investing activities**
Change in cash in the year
Cash brought forward
**Cash carried forward**
Represented by:
National Westminster Bank plc
Cash at broker|**2025**
**£**
(995,838)
24,317
795,281
350,000
(35)
(1,728,487)
2,741,378
2,182,454
1,186,616
467,697
1,654,313
528,107
1,126,206
1,654,313|**2024**
**£**
(1,043,577)
12,323
722,566
350,000
17
(3,829,565)
3,567,714
823,055
(220,522)
688,219
467,697
306,423
161,274
467,697
|
|---|---|---|
The notes on pages 13 to 20 form part of these financial statements.
- 12 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
## **1. PRINCPAL ACCOUNTING POLICIES**
## **(a) Accounting convention**
The financial statements are prepared under the historical cost convention and in preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011.
## **(b) Donations, legacies and similar income**
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.
## **(c) Investment income**
Investment income is accounted for in the period in which the charity is entitled to receipt.
## **(d) Resources expended**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.
## **(e) Charitable activities**
Costs of charitable activities include grants made and an apportionment of overhead and support costs where applicable.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
## **(f) Governance costs**
Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
## **(g) Fixed asset investments**
Investments are stated at closing market value at the balance sheet date. Any gains or losses on revaluation and disposal are shown in the Statement of Financial Activities.
## **(h) Realised gains and losses**
Gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and purchase cost. Unrealised gains and losses are calculated as the difference between the market value at year end and opening market value (or purchase date if later). Realised and unrealised gains and losses are not separated in the Statement of Financial Assets.
- 13 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
## **1. PRINCIPAL ACCOUNTING POLICIES (CONT’D)**
## **(i) Taxation**
The charity is exempt from tax on its charitable activities.
## **(j) Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling the balance sheet date. Transactions in foreign currency are translated at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **2. DONATIONS**
|Grant received
**INVESTMENT INCOME**
Income from listed securities
Interest received
Accrued interest
|**2025**
**£**
350,000
**2025**
**£**
795,281
24,317
(6)
819,592
|**2024**
**£**
350,000
**2024**
**£**
722,566
12,323
(4,520)
730,369|
|---|---|---|
## **3. INVESTMENT INCOME**
## **4. CHARITABLE ACTIVITIES**
|Grant making|**Activities**
**Undertaking**
**Directly**
**(see note 5)**
**£**
713,298
713,298|**Support**
**Costs**
**(see note 6)**
**£**
145,647
145,647|**Total**
**2025**
**£**
858,945
858,945
|**Total**
**2024**
**£**
935,973
935,973|
|---|---|---|---|---|
- 14 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
|**5.**
**GRANTS PAID OR PAYABLE**
Adventure Plus
African Promise
After Umbrage
Almeida Theatre
Almshouses Association
ALS
Alzheimer’s Research UK
Andrew Simpson Foundation
Anthony Nolan
Applecart Arts
Arundel Castle Cricket Foundation
Autistica
A-T Society
Bampton Classical Opera
Barnardo’s
Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust
Be Free YC
Belvoir Cricket & Countryside Trust
Berin Centre
Berkshire Vision
Bishops Green Community
Blind Veterans UK
Bliss
Blood Cancer UK
Bone Cancer Research Trust
Boxes of Basics
BOSP
Brain & Spinal Injury Centre
Brain Tumour Charity
Brain Tumour UK
Breast Cancer Now
Brendoncare Foundation
British Forces Foundation
British Heart Foundation
British Horse Society
British Liver Trust
British Stammering Association
British Wireless for the Blind Fund
Brooke Hospital for Animals
Brothers Servants of the Blessed Virgin
Bryan Adams Foundation
Cancer Research UK
Cancerwise
Canine Partners
Care for Veterans
Centrepoint
Chance to Shine Foundation Ltd
Charlie Waller Memorial Fund
Checkendon Sports Club
c/fwd|**2025**
**£**
4,000
1,000
-
11,000
-
-
4,000
3,000
2,000
-
30,000
3,000
-
-
30,000
-
-
3,000
1,000
3,000
1,000
4,000
4,000
3,000
3,000
-
5,000
-
-
-
3,000
-
3,000
3,000
3,000
4,000
-
4,000
3,000
-
-
-
3,000
-
-
4,000
4,000
-
-
149,000|**2024**
**£**
-
-
2,000
10,000
10,000
2,000
-
-
-
5,000
30,000
-
3,000
2,500
-
5,000
3,000
3,000
-
3,000
-
-
-
2,000
-
2,000
-
5,000
1,000
1,000
3,000
10,000
-
1,000
-
-
4,000
4,000
3,000
5,000
10,000
3,000
-
3,000
3,000
3,000
3,750
1,000
10,000
156,250|
|---|---|---|
- 15 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
|**5.**
**GRANTS PAID OR PAYABLE (CONT’D)**
b/fwd
Cherry Trees
Child Bereavement UK
Childhood Eye Cancer Trust
Children’s Liver Disease Foundation
Chiltern Centre for Disabled Children
Chiswick House & Garden Trust
CIRCA
Cleanup UK
Clear Sky Children’s Charity
Colostomy UK
Combat Stress
Coram Voice
Crisis at Christmas
Cure Parkinson’s Trust
Cystic Fibrosis Trust
Dame Vera Lynn Children’s Charity
Daventry Contact
Deaf Blind UK
Dear Toby Trust
Dedanists
Dementia UK
Disability Challengers
Dorchester Festival
Dravet Syndrome
Earth Trust
English Touring Opera
ERIC
Eve Appeal
Families United Network
FAST
Fields in Trust
Fight Against Blindness
Fight for Sight
Florence Nightingale Foundation
Future Trees
Global Action
Global Canopy Foundation
Go Beyond
Go Kids Go
Great Ormond St Hospital Children’s Charity
Greatwood Charity
Greenham Trust (The Good Exchange)
Guildford Lions Club
Hackney Showroom
Hawker Typhoon Preservation Group
Headway
Health Poverty Action
c/fwd|**2025**
**£**
149,000
3,000
-
3,000
-
-
3,000
3,000
-
-
-
4,000
3,000
-
4,000
4,000
3,000
3,000
-
5,000
-
4,000
-
-
-
-
2,000
4,000
-
3,000
5,000
8,000
-
3,000
76,500
-
-
-
-
-
2,000
3,000
-
1,000
2,000
5,000
4,000
5,000
314,500|**2024**
**£**
156,250
-
4,000
3,000
5,000
3,000
-
3,000
2,000
3,000
3,000
-
3,000
6,000
-
4,000
-
3,000
4,000
-
10,000
4,000
4,000
2,000
1,000
2,000
-
-
3,000
3,000
-
3,000
3,000
-
73,643
3,000
1,500
5,000
3,000
5,000
1,000
-
2,000
-
-
-
4,000
5,000
340,393|
|---|---|---|
- 16 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
|**5.**
**GRANTS PAID OR PAYABLE (CONT’D)**
b/fwd
Hearing Dogs for Deaf People
Helen Arkell Dyslexia Charity
Henley and District Agriculture Association
Home-Start Crawley, Horsham and Mid-Sussex
Hope UK
Horatio’s Garden
Huntington Disease Association
Insight
James’ Place
JDRF
Jubilee House
Kenton Theatre Henley
KIDS
Kids Cancer Charity
Leander Club
Lennox Children’s Cancer Fund
Let Me Know
Leukaemia Care
Leukaemia UK
Leys & St Faith’s School Foundation
Little Angel Theatre
Livability
Living Paintings
London’s Air Ambulance
London Youth
Lullaby Trust
MACS
Macular Society
Maggie’s
Magic Breakfast
Marine Conservation Society
Maritime London Officer Cadet Scholarship
Marlborough College Foundation
Martlets Hospice
Meath Epilepsy
Movember
Multiple Sclerosis Society
National Autistic Society
National Brain Appeal
National Portrait Gallery
Newbury Cancer Care
Nomad Conservation Fund
NSPCC
Oakleaf Enterprise
Oasis Community Housing
Old Vic Theatre
c/fwd|**2025**
**£**
314,500
5,000
3,000
1,000
3,000
-
3,000
3,000
3,000
-
3,000
-
10,000
15,000
4,000
25,000
-
3,000
5,000
4,000
1,000
2,000
-
4,000
4,000
-
-
-
3,000
2,000
3,000
3,000
16,500
6,000
3,000
-
-
3,000
3,000
1,000
-
1,000
-
2,000
-
-
10,000
472,000|**2024**
**£**
340,393
5,000
-
1,000
3,000
3,000
-
3,000
3,000
1,000
3,000
3,000
-
30,000
-
24,000
3,000
-
-
-
-
3,000
3,000
4,000
5,000
3,000
4,000
3,000
3,000
-
3,000
3,000
-
2,000
4,000
3,000
1,000
3,000
-
-
10,000
-
5,000
-
3,000
2,000
10,000
499,393|
|---|---|---|
- 17 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
|**5.**
**GRANTS PAID OR PAYABLE (CONT’D)**
b/fwd
Open University
Opera Prelude
OSCAR Foundation
Osteopathic Centre for Children
Oxford Children’s Hospital Charity
Oxfordshire Victoria County History
PACT
PALS
Parkinson’s Disease Society
Peregrines Rowing Club
Potatoes for Ukraine
Princess Alice Hospice
Prostate Cancer UK
Prostate Project
Ramsbury Primary School
RCN Foundation
React
Restless Development
Rockinghorse Children’s Charity
Royal Berks Charity
Royal British Legion
Royal Marines Charitable Trust
Royal Marsden Hospital Cancer Fund
Royal National College for the Blind
Royal National Institute for the Blind
Royal National Lifeboat Institution
Royal Star & Garter
Royal Trinity Hospice
Saint Francis Hospice
Samaritans
Sarcoma UK
Scottish Seabird Centre
Seashell Trust
Second Chance
Sense
Shine Charity
Smile Train
Sobell House Hospice
Society for Mucopolysaccharide Diseases
Spinal Muscular Atrophy
Spinal Research
Spread a Smile
St George’s Hospital Charity
St Luke’s Hospice
St Margaret’s Somerset Hospice
St Martin in the Fields
c/fwd|**2025**
**£**
472,000
-
1,000
2,000
6,500
4,000
-
-
-
-
2,500
1,000
-
3,000
3,000
5,000
15,500
4,000
-
3,000
1,000
2,000
-
-
3,000
4,000
-
4,000
-
-
-
-
3,000
4,000
-
-
3,000
5,000
-
3,000
3,000
5,000
6,000
4,000
-
1,000
4,000
577,500|**2024**
**£**
499,393
3,000
-
-
6,000
-
1,000
3,000
1,000
1,000
-
-
3,000
-
-
-
-
4,000
2,000
-
-
3,000
1,000
4,000
-
-
6,000
-
4,000
3,000
4,000
2,000
4,000
-
2,000
3,000
-
-
1,000
3,000
2,000
5,000
3,000
4,000
4,000
-
4,000
585,393|
|---|---|---|
- 18 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
|**5.**
**GRANTS PAID OR PAYABLE (CONT’D)**
b/fwd
St Mary’s Church Chidham
St Mary’s Hawkesbury, Friends of
St Michael’s Hospice Basingstoke
St Wilfrid’s Hospice
Stoke Row CE Primary School
Stroke Association
Sue Ryder
Sunny Days Children’s Fund
Support Dogs
Supporting Wounded Veterans
Surrey Care Trust
Sustain Alliance for Better Food and Farming
Teddy’s Wish
Thames Hospice
Thames Valley Air Ambulance
The PTI
Thomley Activity Centre
Time2Talk
Tommy’s
Tom’s Trust
UCare
UK to Ukraine (via Healing Hands)
Ukraine Medical Aid and Supplies
Urology Foundation
Velindre Cancer Trust
Vision Foundation
Waltham St Lawrence’s Churches Trust
Wessex Rivers Trust
White Lodge Centre
Whizz-Kids
Whoopsadaisy
Willow Foundation
Willow Trust
Winston’s Wish
YANA
Zoological Society of London
Grants to institutions under £1,000: 0 (2024: 2)
Previous year donations written back:
Benefice of White Waltham (2022/23)
Grants to individuals: 151 (2024: 212)
Previous year donations written back
|**2025**
**£**
577,500
-
-
5,000
-
-
-
-
3,000
3,000
5,000
-
-
2,000
-
4,000
-
-
2,000
-
2,000
-
-
4,000
-
-
-
-
-
-
-
3,000
3,000
-
2,000
2,000
3,000
620,500
-
-
620,500
92,798
-
713,298
|**2024**
**£**
585,393
1,000
5,000
7,500
10,000
6,000
4,000
3,000
3,000
-
-
4,000
5,000
-
3,000
-
3,000
4,000
-
5,000
-
1,000
5,000
2,000
3,000
1,000
4,000
1,000
1,000
3,000
4,000
3,000
3,000
3,000
-
-
3,000
685,893
1,000
(3,000)
683,893
120,536
(2,000)
802,429|
|---|---|---|
- 19 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
## **6. SUPPORT COSTS**
|Accounting and administration
Grant and general management
Audit fee
VAT
Other
|**2025**
**£**
29,030
82,700
2,500
24,040
7,377
145,647
|**2024**
**£**
26,900
75,700
2,400
22,021
6,523
133,544|
|---|---|---|
The Trust had no paid employees, however time was donation on a voluntary basis. The Trustees did not receive remuneration or reimbursement of expenses during the year. The Trustees have not purchased indemnity insurance.
## **7. INVESTMENTS**
|**2025**
**£**
**£**
Market value at 1 July 2024
29,152,296
Acquisition cost
1,728,487
Proceeds from disposals
(2,741,378)
(1,012,891)
Realised gains
710,726
Movement in unrealised valuation
444,186
1,154,912
Market value at 30 June 2025
29,294,317
Cash held within the investment portfolio
1,126,206
Total value of portfolio at 30 June 2025
30,420,523
Historical cost at 30 June 2025
22,294,709|**2024**
**£**
3,829,565
(3,567,714)
1,086,023
2,494,581
|
**£**
25,309,841
261,851
3,580,604
29,152,296
161,273
29,313,569
22,596,874|
|---|---|---|
The following individual investments each represent more than 5% of the investment portfolio:
Legal & General Unit Trust International Index Trust C 6.95% Legal & General Unit Trust UK Index Trust C Dis
- 20 -
**SANDRA CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
_________________________________________________________________________________________
## **8. CASH AT BANK AND IN HAND**
|**2025**
**£**
National Westminster Bank plc
528,107
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2025**
**£**
Auditor fees
3,000
Accountancy fees
9,192
Administration fees
26,244
Broker fees
21,069
59,505
|**2024**
**£**
306,423
**2024**
**£**
5,400
9,610
28,952
19,797
63,759|
|---|---|
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **10. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|Net income/(expenditure) for the year
Deduct interest
Deduct investment income
Deduct voluntary income
Increase/(decrease) in creditors
|**2025**
**£**
178,015
(24,317)
(795,281)
(350,000)
(4,255)
(995,838)
|**2024**
**£**
29,199
(12,323)
(722,566)
(350,000)
12,113
(1,043,577)|
|---|---|---|
## **11. RELATED PARTIES**
- a) None of the Trustees have been paid any remuneration or received any other benefits from the Charity.
- b) There were no travel expenses reimbursed or paid to the Trustees during the year (year ended 30 June 2024: None).
No charges have been made to the charity during the year ended 30 June 2025 for the work carried out as trustees by Richard Moore or Francis Moore who are directors of Moore Family Office Limited. Moore Family Office charged professional fees of £111,730 plus VAT during the year to 30 June 2025.
- 21 -