Charity registration number 0327648
THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025
THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
COMPANY INFORMATION
| Charityname | The SirHugh and Lady Ruby Sykes Charitable Trust |
|---|---|
| Charity number | 0327648 |
| Registered office | The Coach House |
| Brookfield Manor | |
| Hathersage | |
| Hope Valley | |
| Derbyshire | |
| United Kingdom | |
| $32 1BB | |
| Trustees | Sir Hugh Sykes |
| Lady Ruby Sykes | |
| Brian Evans | |
| Bankers | Clydesdale Bankplc |
| 88Wood Street | |
| London | |
| EC2V7QQ | |
| Fund manager | Cazenove Capital Management Limited |
| 12 Moorgate | |
| London | |
| EC2R 6DA | |
| Independantexaminer | Susanna Cassey |
| AzetsAudit Services | |
| Belmont Suite | |
| Paragon Business Park | |
| Chorley New Road | |
| Balton | |
| BL66HG |
THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
CONTENTS
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Page
Trustees’ report 1-2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6-8
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025 and confirm that the financial statements comply with the Charities Act 2011 and Charities SORP.
The financial statement comply with the current statutory requirements and with the requirements of the Trust Deed.
Financial review, achievements and performance
The results for the year ended 5 April 2025 are summarised as follows:
Total incoming resources were £92,872 (2024: £92,018).
Investment values reduced in the year. Investments were re-assessed and revised in light of market conditions. Gains of £29,316 were realised in the year (2024: £4,217), whilst losses of £90,114 were unrealised (2024: Gains of £123,085).
Total donations of £45,910 (2024: £12,600) were paid out to various institutions both locally and nationally during the year.
Total costs of managing investments totalled £20,870 (2024: £18,979).
Reserves policy
The Trustees consider reserves to be the total unrestricted funds after deducting all tangible fixed assets. The present level of reserves is considered adequate to meet the foreseeable costs of resourcing the charity for the ensuing year.
Plans for future periods
The Trustees aim to maximise investment income to provide funds for charitable purposes in the future.
Structure, governance and management
The trust was created by Deed on 31 March 1987, registration number 327648 and the initial charity funds were provided by contributions from the founders as shown by note 5.
The objects of the trust shall be the benefit of furtherance of charitable purposes, charitable institutions, charitable foundations or charitable trusts.
The Trustees who served during the year and up to the date of signature of the financial statements were: Sir Hugh Sykes Lady R Sykes Mr B Evans
Recruitment and appointment of trustees
Trustees are appointed in accordance with the Charity's Trust Deed. The Trustees as charity trustees have control over the charity.
Public Benefits
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Risk review
The trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. External risks to funding relate to the investment policy and this is reviewed regularly. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and to ensure consistent quality of delivery for all operational aspects of the charity.
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Investments
The Trustees manage the investments of the charity with advice from fund managers.
Stock market conditions have remained volatile in the year as a result of global economic conditions. Investments remain under review with a view to taking advantage of any upturn in stock markets.
Dividend income on the Statement of Financial Activities, shows income generated of £31,102 (2024: £28,330).
Interest receivable on loan notes totalled £57,961 (2024: £60,829).
The trustees’ report was approved by the Board of Trustees.
Lady R Sykes Trustee
Date: ACI
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23 December 2025 ...........escseceseseees
THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025
ee
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resourcesfrom generated funds | |||
| Interest on loan notes | 57,961 | 60,830 | |
| Bank interest received | 3,647 | 2,714 | |
| Dividends received from quoted shares | 31,102 | 28,330 | |
| Other incoming resources | |||
| Other income | 162 | 143 | |
| Total income | 92,872 | 92,017 | |
| RESOURCES EXPENDED | |||
| Cost ofgenerating funds | |||
| Investment management | 20,870 | 18,979 | |
| Charitable activities | |||
| Donations made to other charitable bodies and appeals | 45,910 | 12,600 | |
| Governance costs | |||
| independant examination fees | 960 | 900 | |
| Total expenditure | 67,740 | 32,479 | |
| Netincoming/(outgoing) resources before otherrecognised gains and losses | 25,132 | 59,538 | |
| Other recognised gains and losses | |||
| Realised gains/(losses) on investments assets | 4b | 29,316 | 4,217 |
| Unrealised gains/(losses) on investmentsassets | 4b | (90,114) | 123,085 |
| Netmovementinfunds | (35,666) | 186,840 | |
| Fund balances broughtforward | 2,540,768 | 2,353,927 | |
| Fundbalancescarriedforward | 4c | 2,505,101 | 2,540,768 |
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|Notes|£|£|£|£|
|Fixed|assets|
|Investments|2|2,299,833|2,335,243|
|Current|assets|
|Debtors|7|194|250|
|Cash|at|bank and|in|hand|205,938|206,139|
|206,132|206,389|
|Creditors:|amounts|falling|due within|
|one|year|9|(864)|(864)|
|Net|current|assets|205,268|205,525|
|Total|assets|less|current|liabilities|2,505,101|2,540,768|
|Net assets|2,505,101|2,540,768|
|Income|funds|
|Unrestricted|funds|2,505,101|2,540,768|
|Total funds|2,505,101|2,540,768|
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The financial statements were approved by the Trustees on def sagan
Lady R Sykes Trustee
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
- 1 Accounting policies
1.1 Basis of preparation
The Sir Hugh and Lady Ruby Sykes Charitable Trust is a charitable trust registered in England and Wales. The trust was created by Deed on 31 March 1987, registration number 327648 and the initial charity funds were provided by contributions from the founders. The registered address of the Charity is Brookfield Manor, Main Road, Hathersage, Hope Valley, $32 1BB.
These accounts have been prepared under the historic cost convention with the exception of investments held at fair value. These financial statements have been prepared in accordance with applicable accounting standards, FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a Public Benefit Entity as defind by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2. Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Gifts from the Founders are credited directly to this fund, including the relevant tax credits where appropriate.
- 1.3. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4 Financial instruments Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5 Fixed asset investments Quoted shares are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities. Loan notes are included at cost, less provision for impairment.
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1.6 Investment income Dividends, including associated tax credits, are credited to the statement of financial activities when received.
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1.7 Resources expended Expenditure is accounted for on an accruals basis.
Governance costs comprise the costs of running the charity and external independent examination fees.
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Nene ee
2 Fixed asset investments
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||||||
|---|---|---|---|---|
|Quoted|Loan|notes|Total|
|shares|
|£|£|£|
|Cost|or valuation|
|At 6 April|2024|1,464,242|871,001|2,335,243|
|Additions|910,947|-|910,947|
|Valuation|changes|(90,114)|-|(90,114)|
|Disposals|(788,242)|(68,001)|(856,243)|
|At 5 April|2025|1,496,833|803,000|2,299,833|
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The original cost of quoted shares is £1,464,242 (2024: £1,309,982). All investments are held in the United Kingdom. Loan notes are recorded at cost less provision for impairment, quoted shares are recorded at market value. In addition to the above investments, the Trust's balance sheet includes cash held as collateral by investment managers in the sum of £93,287 (2024: £71,695).
3 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
4 Total funds
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|£|
|a)|Contributions|from|Founders|
|At|6|April|2024|2,936,454|2,936,454|
|Gift|of shares|-|.|
|Gift|of cash|-|-|
|At|5|April 2025|2,936,454|2,936,454|
|b)|Other fund|
|At|6|April 2024|(395,686)|(582,527)|
|Net|outgoing|resources|for the year|25,132|59,539|
|Realised|gains/(losses)|on|investment assets|29,316|4,217|
|Unrealised|gains/(losses)|on|investment assets|(90,114)|123,085|
|At 5|April 2025|(431,352)|(395,686)|
|c)|Total funds|2,505,101|2,540,768|
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THE SIR HUGH AND LADY RUBY SYKES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
5 Employees
There are no employees of the charity.
6 Net gains/(losses) on investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Revaluation ofinvestments | 1,130 | 154,261 | |
| Gain/(loss) on sale ofinvestments | 29,316 | 4,217 | |
| 30,446 | 158,478 | ||
| 7 | Debtors | ||
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | 194 | - | |
| Prepayments and accrued income | - | 250 | |
| 194 | 250 | ||
| 8 | Financial instruments | 2025 | 2024 |
| £ | £ | ||
| Carrying amount offinancial assets | |||
| Instruments measured at fair value through profit or loss | 1,496,583 | 1,464,242 | |
| 9 | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accrualsanddeferredincome | 864 | 864 |
10 Control
The charity is controlled by the trustees. ‘
11+‘ Related party transactions
During the year the charity was charged administration costs of £11,700 (2024: £10,800) by Bamford Group Ltd, a company of which Sir Hugh Sykes and Lady Ruby Sykes are directors, which were paid during the year.
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