THE ALMOND TRUST
Charity No. 328583
ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 2025
BUCHANAN BONDS ltd. Chartered Accountants & Chartered Tax Advisers
39 Braehead Crescent, Stonehaven Aberdeenshire AB39 2PP
1
THE ALMOND TRUST REPORT OF THE TRUSTEES
The trustees present their annual report and financial statements for the year ended 31 March 2025 and confirm that they comply with current statutory requirements, and with the requirements of the charity’s governing instrument.
Constitution
The charity, which is registered with the Charity Commission in the UK, was set up under deed of trust on 19[th] March 1990.
Charity’s aims and objectives
The trustees are empowered to apply the Trust funds, at their discretion, for charitable purposes, including the making of donations to other charitable institutions for general or special charitable purposes, or the making of donations to any institution whatsoever, on terms that such donations be applied for charitable purposes.
The Trust’s primary aims are the support of evangelical Christian projects, Christian evangelism and the advancement of the translation, reading, study and teaching of the Bible. The trustees rarely respond to uninvited grant applications. The trustees have considered the Charity Commission’s guidance on public benefit.
Review of the year and future prospects
The major source of income was by way of donation under gift aid. Charitable expenses in the form of grants and donations were up on the previous year by approximately £88,500 (17%). With an increase of approximately £31,000 (4%) in the level of donations received a surplus for the year resulted.
The Trust’s investment portfolio stood at approximately £982,000 from its initial £1,025,000 investment.
The balance of cash held at the year-end amounted to just under £674,000 with a further £162,500 due in gift aid.
39 institutions and no individuals (2024: 28 and 2 respectively) received financial support and encouragement, with the average grant payment equating to approximately £15,500 per beneficiary (2024: £17,200).
The main beneficiaries of the Trust were organisations and projects which fulfilled the primary aims of the Trust (see note 4 to the accounts). The Trust’s future activities are likely to follow the same pattern, with donations for the next year being from a similar source and, so far, benefiting a similar range of charities to the current year.
Trustees
The trustees that served during the year are as follows:
J L Cooke B H Cooke S T Cooke
The statutory powers of appointing new and additional trustees’ rests with the existing trustees. Newly appointed trustees are advised by the board of their legal duties and responsibilities and where necessary training is provided.
Reserves policy
The Trust has no need to create reserves as it has no binding commitment to incur expenditure in the future and has no overheads. In the event of any change, the policy on reserves will be reviewed. As at March 2025 the Trust held reserves of £1,817,280 (2024: £1,593,622) in Unrestricted Funds. No Restricted Funds are held.
2
THE ALMOND TRUST REPORT OF THE TRUSTEES
Risk management
The trustees have reviewed the charity’s exposure to major risks and accordingly have established systems to mitigate them.
Registered office
The charity is administered from White Birch Farm, White Birch Lane, Warbleton, East Sussex TN21 9BE.
Independent Examiner
The charity’s examiner is Graham Bonds FCA CTA of Buchanan Bonds Ltd, Chartered Accountants & Chartered Tax Advisers, 39 Braehead Crescent, Stonehaven, Aberdeenshire AB39 2PP.
Banking services
Banking services are provided by Coutts & Co. 440 Strand, London WC2R 0QS.
Investment managers
Investment services are provided by Cantab Asset Management Ltd, 50 Station Road, Cambridge CB1 2JH.
This report was approved by the trustees on 17[th] December 2025 and signed on their behalf.
Jeremy Cooke
J L Cooke Trustee
3
THE ALMOND TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ALMOND TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] March 2025 which are set out on pages 4 to 12.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records;
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Graham Bonds
Graham Bonds FCA CTA Buchanan Bonds ltd.
Chartered Accountants & Chartered Tax Advisers
39 Braehead Crescent Stonehaven Aberdeenshire AB39 2PP
17[th] December 2025
4
THE ALMOND TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes Income and endowments: 2 Donations and legacies Investment income Other income Total income and endowments Expenditure: 3 Raising funds Charitable activities Total expenditure Net realised gains/(losses) on investments Net income/(expenditure) Transfers between funds Other recognised gains/(losses) Net unrealised gains/(losses) on investments 5 Net movement in funds Reconciliation of funds: Total fund balances brought forward Total fund balances carried forward |
Restricted Unrestricted Total Total Funds Funds 2025 2024 £ £ £ £ - 812,500 812,500 781,250 - 34,649 34,649 25,718 - - 20 |
|---|---|
| - 847,149 847,149 806,988 |
|
| - (9,195) (9,195) (11,200) - (606,700) (606,700) (518,145) |
|
| - (615,895) (615,895) (529,345) |
|
| - 2,173 2,173 (10,334) |
|
| - 233,427 233,427 267,309 - - - - - (9,769) (9,769) 35,461 |
|
| - 223,658 223,658 302,770 - 1,593,622 1,593,622 1,290,852 |
|
| - 1,817,280 1,817,280 1,593,622 |
All amounts relate to continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
Notes 1 to 11 form part of these accounts.
5
THE ALMOND TRUST BALANCE SHEET AS AT 31 MARCH 2025
| Notes | Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Fixed assets: | |||||
| Investments | 5 | - | 982,160 | 982,160 | 974,559 |
| Current assets: | 6 | ||||
| Debtors | - | 162,500 | 162,500 | 156,250 | |
| Cash at bank | - | 673,820 | 673,820 | 464,013 | |
| - | 836,320 | 836,320 | 620,263 | ||
| Liabilities: | |||||
| Creditors falling due within one year | 7 | - | (1,200) | (1,200) | (1,200) |
| Net current assets | - | 835,120 | 835,120 | 619,063 | |
| Total assets less current liabilities / Net assets | - | 1,817,280 | 1,817,280 | 1,593,622 | |
| Total charity funds | 8 | - | 1,817,280 | 1,817,280 | 1,593,622 |
| - | - |
These accounts were approved by the trustees on 17th December 2025.
Jeremy Cooke
J L Cooke Trustee
Notes 1 to 11 form part of these accounts.
6
THE ALMOND TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
| Notes Cash flow from operating activities 9 Net cash flow from operating activities Cash flow from investing activities Payments to acquire investments Receipts from sales of investments Bank interest received Brokers investment income received Investment management fees Net cash flow from investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 April 2024 Cash and cash equivalents at 31 March 2025 Cash and cash equivalents consist of: Cash at bank and in hand |
2025 2024 £ £ 199,550 251,875 |
|---|---|
| 199,550 251,875 |
|
| (670,040) (571,638) 654,843 162,606 10,257 5,604 24,392 20,114 (9,195) (11,200) |
|
| 10,257 (394,514) |
|
| 209,807 (142,639) 464,013 606,652 |
|
| 673,820 464,013 |
|
| 673,820 464,013 |
|
| 673,820 464,013 |
|
| - - |
Notes 1 to 11 form part of these accounts.
7
THE ALMOND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below.
Basis of preparation
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
As a small entity the charity has not included a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
No material going concern uncertainties exist.
Fund accounting
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.
Incoming resources
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Resources expended
Resources expended, which include irrecoverable VAT, are recognised in the period in which they are incurred and allocated accordingly based on appropriate means.
Fixed asset investments
Fixed asset investments are all UK quoted securities and are stated at their market value. Realised gains/losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains/losses are calculated as the difference between opening (purchase date if later) and closing market value.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Financial Instruments (Debtors and Creditors)
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with exception of loans which are subsequently measured at amortised cost using the effective interest method.
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THE ALMOND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES (cont.)
Taxation
The Almond Trust is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.
Charitable activities
Costs of charitable activities include grants made and governance costs.
2. INCOME AND ENDOWMENTS
| Donations and legacies: Gifts and donations (includes gift aid) |
Restricted Unrestricted Total Total Funds Funds 2025 2024 £ £ £ £ - 812,500 812,500 781,250 |
|---|---|
| - 812,500 812,500 781,250 |
All 'donations and legacies' relate to unrestricted funds for both 2025 and 2024.
| Investment income: Brokers investment income Bank interest income |
Restricted Unrestricted Total Total Funds Funds 2025 2024 £ £ £ £ - 24,392 24,392 20,114 - 10,257 10,257 5,604 |
|---|---|
| - 34,649 34,649 25,718 |
All 'investment' and 'other' income relate to unrestricted funds for both 2025 and 2024.
3. EXPENDITURE
| Raising funds: Portfolio investment management costs |
Restricted Unrestricted Total Total Funds Funds 2025 2024 £ £ £ £ - 9,195 9,195 11,200 |
|---|---|
| - 9,195 9,195 11,200 |
All 'portfolio investment management costs' relate to unrestricted funds for 2025 and 2024.
| Charitable activities - cost of grant making: Grants payable (see note 4) Governance costs - examiner's fees Total cost of grant making |
Restricted Unrestricted Total Total Funds Funds 2025 2024 £ £ £ £ - 605,500 605,500 516,945 - 1,200 1,200 1,200 |
|---|---|
| - 606,700 606,700 518,145 |
All 'charitable expenditure' relate to unrestricted funds for both 2025 and 2024.
The examiner's fee comprised the examination fee of £1,200 (2024: £1,200) and tax work of £nil (2024: £0).
There was no expenditure on fundraising or publicity.
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THE ALMOND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
| 4. GRANTS PAYABLE Number Grants paid to institutions: To support ongoing work and specific projects: Arab Vision 1 Binscombe Church 2 Brighton and Hove City Mission 1 Christ Church, Headington 1 Christian Schools Trust 1 Christianity Explored 1 Christians in Sport 1 Christian Solidarity Worldwide 1 Church of England Evangelical Council 1 Church Pastoral Aid Society 1 Crosslinks 3 Firesz - Friends International 1 Friends of St Ebbe's Trust 1 Grace Church Greenwich 1 Haggai Institute 1 Harvester Ministries 1 Home Leone 1 Integritas Health 1 Jews for Jesus 1 Langham Partnership 1 Latin Link 1 Lawyers' Christian Fellowship 1 London City Mission 1 London Institute for Contemporary Christianity 1 Newquay Evangelical Church 1 OMF International 1 Pak7 International 1 Proclamation Zambia 1 Samaritan's Purse 1 SAT-7 UK Trust 1 Scripture Union 1 Spurgeon's College - Tear Fund 1 Titus Trust 1 The Ditch Foundation 1 The Bible Network 1 Trans World Radio 1 Trinity Church, Salisbury 1 UCCF 1 Warbleton Parish Church Council - Wycliffe Bible Translators 1 Total grants payable to institutions Grants payable to nil individuals (2024: 2) Total grants payable |
2025 2024 £ £ 10,000 10,000 125,000 150,000 10,000 10,000 15,000 - 25,000 - 50,000 10,000 10,000 10,000 10,000 15,000 - 1,500 - 22,500 10,000 - 1,945 10,000 10,000 10,000 10,000 15,000 50,000 10,000 10,000 10,000 - 10,000 10,000 5,000 - 10,000 10,000 10,000 - 10,000 10,000 10,000 10,000 20,000 20,000 10,000 10,000 10,000 - 10,000 15,000 10,000 - 10,000 10,000 15,000 20,000 10,000 10,000 10,000 10,000 - - 15,000 15,000 20,000 15,000 15,000 15,000 10,000 10,000 10,000 - 1,500 - 10,000 10,000 - - 15,000 15,000 |
|---|---|
| 605,500 496,945 |
|
| - 20,000 |
|
| 605,500 516,945 |
As at March 2025 there were no grant commitments (2024: nil).
10
THE ALMOND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
| 5. FIXED ASSETS INVESTMENTS At 1 April 2024 Additions Disposals at cost/market value Unrealised gains/(losses) on revaluation At 31 March 2025 Total portfolio spilt - market value: Cash Listed investments 6. CURRENT ASSETS Other debtors (gift aid) 7. CREDITORS Accruals All 'cash at bank' relate to unrestricted funds both in 2025 and 2024. All 'other debtors' relate to unrestricted funds both in 2025 and 2024. |
Cost Market Value £ £ 973,043 974,559 670,040 670,040 (665,905) (652,670) - (9,769) Unrestricted Income |
|---|---|
| 977,178 982,160 |
|
| Cost Market Value £ £ 10,419 10,419 966,759 971,741 |
|
| 977,178 982,160 |
|
| 2025 2024 £ £ 162,500 156,250 |
|
| 162,500 156,250 |
|
| 2025 2024 £ £ 1,200 1,200 |
|
| 1,200 1,200 |
All 'creditors' relate to unrestricted funds both in 2025 and 2024.
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THE ALMOND TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
8. RESERVES
| UNRESTRICTED FUNDS General Fund Total Unrestricted Funds General Fund Total Unrestricted Funds |
01/04/2024 Income Expenditure Gains / (losses) 31/03/2025 £ £ £ £ £ 1,593,622 847,149 (615,895) (7,596) 1,817,280 |
|---|---|
| 1,593,622 847,149 (615,895) (7,596) 1,817,280 |
|
| 01/04/2023 Income Expenditure Gains / (losses) 31/03/2024 £ £ £ £ £ 1,290,852 806,988 (529,345) 25,127 1,593,622 |
|
| 1,290,852 806,988 (529,345) 25,127 1,593,622 |
Unrestricted funds are the general funds available for use at the trustees' discretion in furtherance of the objectives of the charity.
RESTRICTED FUNDS
None for 2023/24 and 2024/25.
9. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the year Dividend income Interest income Investment management fees Gains/(losses) on sale of investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash flow from operating activities |
2025 2024 £ £ 233,427 267,309 (24,392) (20,114) (10,257) (5,604) 9,195 11,200 (2,173) 10,334 (6,250) (11,250) - - |
|---|---|
| 199,550 251,875 |
10. RELATED PARTY TRANSACTIONS AND TRUSTEES' EXPENSES AND RENUMERATION
No trustee received any remuneration or reimbursement of expenses.
During the 2023/24 and 2024/25 years, no trustee or person related to a trustee had any personal interest in any contract or transaction entered into by the charity.
During the year donations totalling £812,500 (including gift aid) (2024: £781,250) were received from the trustees.