The Dorus Trust Trustees, Annual Report and Financial Statements For the year ended 31 December 2024 Charlty Registration No. 328724
Adminislrative Details Trustees CH Peacock Mrs B Bond Mrs SJ Peacock Address PO Box 79878 London SW19 9RQ Registered Number 328724 Bankers CAF Bank Ltd Kings Hill West Malling Kent ME19 4TA Investment Advisers Cazenove Capital 1 London Wall Place London EC2Y SAU Independent Examiner Marcus Cridland BA {Honsl FCA Scott Vevers Lld Chartered Accountants and Regislered Auditors 65 East Street Bridport Dorset DT6 3LB
The DONS Trust Twstees. reportforthe year ended 31 December 2024 The trustees psent their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accord8nce with the accounting policies set out in note 2 to the accounts and comply with the charity's trust deed and the Charities Act 2011. The trustees have adopted the provisions oflhe Slatemenl of Recommended Practice {SORPI 'Accounting and Reporting by Charities. IFRS 102) in preparing ihe annual report and financial statements of the charity. The Dorus Trusl is a registered chartty established ty trusl deed on 23 Juty 1990. Its objects are lo appty the income of the trust Iow8rds charitable purposes. This is achieved by making grants to other chartties and voluntary bodies. The trustees who seNed during the year are listed on page 1. Trustees are elected and removed by the seNing board of truslees. The charity acknowledges its requirement to demonslrate dearly that it must have charitable purposes or 'aims' that are for Ihe public benefrt. The trustees confimi thal they have paid due regard lo the Charty Commission guidance on public benefrt before deciding what activf(ies the charity should undertake. Summary of maln a¢tlvltIes and achlevements in the year Investment income during the year from investments and deposits tolalled £68,07812023'. £71,602). Grants made amounted to £77,00012023.' £78.000)', a summary of the individual granls to charity is gwen in note 3 of the accounts. Adminislration costs and fee5 were £438 in 202412023.. £432). As a resull of grants exedIng investmenl income for the year. the deficit for the year on the income fund amounted to £9.36012023.' £6,830), which was covered by a Iransfer from the Expendable Endowment. The Expendable Endoument Fund amounled to £4.617.554 on 31 December 2024. an increase of£441,760 after charitable expenditure on the opening balance of £4.175.794. The total return for the year was +12.4°/0 (2023 total return +6.80/0), as financial markets continued to recover from the weakness of 2022. The trust has a lotal return approach to investment with a view to achieving a more consistent level of grants, while maintaining the real value of the endowment over Ihe medium tem. Olherfunds of the trust are held on deposit and spread beeen deposrt tskers to minimise counterpaty risk. Reserrfes poli¢y The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's svze and the level of financial commitments held. The tnjstees aim to ensure the charty will be able to continue to fulfil its charttable objectwes, even rf there is a temporary shortfall in income or unexpected expendilure. The tNstees will endeavour not to sel aside funds unnecessarily and consider the current level of reserves adequate. Guldance on grdnt applicatlons and outlook for dlstrlbuttons The truslees would note that application for a grant is by Invitatlon only. In the interest of charities. resources, we discourage unsolicited applications as these are not considered and. due to this tTUSt's own resources, their receipt are nol aC&noedged. Charities invited to apply for support may be required to submit a report on their activities and financial infomialion in a prescribed fo to facilitate the trustees. revtew. The trustees do not anticipate receiving further endowment caprtal into the trust and consequentty the amount available for distribution is wholly dependent on investment perfornance over time. Having regard for the reserves policy above, the trustees will decide on the overall level of annual grants in the lighl of investment retums and the outlook. Wrth the positive investment performance in 2024, the value of the endowmenl has finally passed its previous high, reached at the end of 2020. and has got closer to the goal of keeping pace with inflation over time. Subject to the development of financial markets, Ihis should allow an increase in the level of overall distribution in future years. Major risks The trustees have a policy of fomially reviewing the risks to which Ihe charty is exposed at least annualty. The main risk identrfied is that the charty's investment performance will fall below Ihe level required to make Ihe level of grants the Irustees would wsh. This risk is mitigated by the application of the investment poli.
The Dorus Trust Trustees, report for Ihe year ended 31 December 2024 Trustees, responslbllltle5 The trustees are required Under Charity law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the financial activities of the charity for that period. In preparing those financial slalemenls, the trustees are required lo.. Select suitable accounting policies and apply them consistently., Make judgements and estimates that are reasonable and prudent., State whether applicable accounb'ng standards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence. The truslees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the finanal position of the charity and enable them to ensure that the financial statemenls comply with applicable laws and Tegulations. They are also responsible for ensuring that the charity maintains an adequate system of internal control designed lo provide reasonable assurance thal assets are safeguarded against loss or unauthorised use and lo prevent and delect fraud and other irregularities. Signed on behalf of Ihe trustees CH Peacock Date.. 2 October 2025
Independent Examlnerfs Report to the Tjvstees of The Dorus Twst I report to the charity trustees on my examination of the accounts of Ihe charity for the year ended 31 December 2024 which are set out on pages 5 to 9. Responsibilities and basis of report As the charity trustees you are responsible for the preparation of the accounts in accordance wlh the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Charity's accounts caThied 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)(bl of the Acl. Indopendent examlner's statement I have completed my examination. I confirm that no malerlal matters have come to my attention in connection wth the examination giving me cause to believe that in any malerial respect: Accounting records were nol kept in respect of the Trusl as required by section 130 of the Act., or The accounts do nol accord with those records., or The accounts do not comply with the applicable requirements concerning Ihe form and content of accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirernent thal Ihe 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 lo enable a proper understanding of the accounts to be reached. Signed.. Marcus Cridland BA (Honsl FCA Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorsel DT6 3LB Dale.. L,-(Lf
The Dorns TNst Statement of Flnanclal ActTvitles {Incorporatlng an Income and Expenditure Account) for the year ended 31 December 2024 Income Expendable Fund Endowment IUnre51ridedl Iunreslridedl Total 2024 Total 2023 Income and expenditure Note Incomlng resource5 Investment income: Dividends Interest income 66,845 66,845 70,402 Total Incomlng resources Resources expended Direct charitable expenditure.. Grants to charities Other expenditure.. Bank fees and administration costs 77,000 77,000 78,000 438 Totsl resources expended Net Incomlnglloutgoingl resources for the year {9,3601 {9,360) 16,8301 Other recognlsed gains and losses Gainsl(lossesl on investment assets.. Realised Unrealised Transfer from Expendable Endowrnent to Income Fund 451,120 451.120 200.377 Net movement in Funds 441,760 441,760 193,547 Funds balances brought forward at 1 January 17 4 175794 LLL4 1 Funds balances carried ford at 31 Docember 4 617 554 4 617 554 4 175 794 All amounts derived from conlinuing adlvities. I gains and losses recognised in the period are induded in the statement of finanaal activities. The noles on pages 7 to 9 form part ofthese accounls
The DONS Trnst Balance sheet as at 31 December 2024 2024 2023 Frxed assets Investments (Note 5) 4,597,482 4,146,362 CuThent assets Debtors (Note 6) Cash and short-temi deposits 8,918 8,513 20,450 29,804 Total assets 4,617,932 4,176,166 Creditors.. Amounts due within one year (Note 71 372 Totsl net assets 4 175 794 Represented by: Expendable Endowment 4,617.554 4.175,794 Income Fund Total funds 4 175 794 The financial statements were approved by Ihe trustees on 2 October 2025. CH Peacock The notes on pages 7 10 9 form part oflhese accounts.
The Dorus Trust Notes to the accounts forthe year ended 31 December 2024 General information The DOTUS Trust is a registered charity in England established by trust deed on 23 July 1990. The address of the registered office is provided in Administrative Details on page 1. Details of the charity's operalions are provided in the Trustees Report. Accounting policies The principal attounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: (a) Basis of preparation The charty constitutes a public benefrt entty as defined by FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charfties preparing Iheir accounts in accordanc£ with Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 102)). the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 and the Chartties Act 2011. The accounts include the resutts of the charitvs operations which are described in the Trustees, Report, all of which are continuing. Ib) Accounting convention The financial slalements have been prepared on a going concem basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial stalements. The budgeted income and expenditure is sufficient with the level of reseNes for Ihe charty to be able lo continue as a going concern. (c) Investment income is recognised when receThiable. (d) Expenses are recognised where r( is more likety than not that there is a legal or constructive obligation committing the charity to the expendilure and the amount of the obligation can be measured wth reasonable certainty. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. le) Unrestricted funds are those that are not subject lo any special Testrictions and they can be used as the Trustees decide. lfj Investments are a fomi of basic financial instrumenl and are initialty recognised at their transaction value and subsequently measured at their fair value as at the balance sheet dale using the closing quoted market pri. The statement of financial activities includes the nel gains and losses arising on revaluation and disposals throughout the year. {gl Debtors and credf(ors receivable I payable wthin one year Debtors and creditors with no stated interest rate and re1vable or payable within one year are recorded at transa(Aion price. Any losses arising from impairment are recognised in expenditure. (h) Financial instruments Classrfication Finanual assets and financial liabilitie5 are recognised when Ihe charty becomes a paty to the conlraclual provisions of the instrument. Financial liabilities and equty instnjments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any rxjntract that evidences a residual interest in the assets of Ihe charity after deducting all of its liabilities. Recogniti1 and MeasUrnent All financial assets and liabilities are initially measured at Iransaction price (including transaction costs), except for those financial assets das5ified as at fair value through profit or loss. which are initialty measured al fair value {whith is normally the transaction price excluding Iransadion costs), unless the arrangement constitutes a financing transaction. If an arrangemenl ¢onstitute5 a financing transaction. the financial asset or financial liability is measured at the present value of the fiJture payments discounted at a mart(el rate of interest for similar debt instruments. Financial assels and liabilities are onty offsel in the slatemenl of financial posttion when. and on when there exists a legal enforceable right to set off the recognised amounts and Ihe charity intends either to settle on a net basis, or to realise the asset and settle the liabilty siMu3ne0uS.
The Dorns Trnst Notes to the accounts for the year ended 31 December 2024 (h) Financial instruments (continued) Financial assets are derecognised when and oniy when al the contractual rights to the cash flows from the finanaal assel expire or are settled, b) the charty transfers to another paty subslantial all of the risks and rewards of ownership of the finanual asset, or cl Ihe charity, despite having retained some, but not all. signtficanl risks and rewards of ownership, has transferred control of the asset lo another paty. Finanaal liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Grants to charities 2024 Chichester Festival Theatre- LEAP Debra Home-start Merton Just a Drop Polka Theatre Practical Action Scar Free Foundation St Mungo's St Raphael's Hospice Swf(chback Trussell Trust Wildfowl & Wetland Trust 5,000 8,000 10,000 2,000 2.000 8.000 5,000 10,000 10,000 8,000 4,000 Total Administration costs The adrninistration costs incurred in 2024 represent independenl examinatson fees of £37812023.. £372) and bank charges. The Truslees receive no remuneration or expenses. Investments comprise holdings in collectNe funds. Market value on 1 January 2024 Net additionsl{disposalsl Unrealised gainlllossl on revaluation Market value on 31 December 2024 4,146.382 4 597 482 Cost at 31 December 2024 The share portfolio was valued by Yealand Fund Services based on the market price at 31 December 2024. Debtors 2024 2023 Accnjed income 918 Creditors.. Amounts due vAthin one year 2024 2023 Accruals 378 372
The Dorus Trust Notes to the accounts forthe yearended 31 December 2024 Net assets by fund Unrestricted Funds Restrlcted Funds Total 2024 Total 2023 Fixed assets CuThenl assets Creditors.. Amounts due within one year 4,597,482 20,450 4,597,482 20,450 4,146,362 29,804 378 378 372 Net assets 4617554 4617554 4 175 794 Financial instruments Categorisation of financial instruments 2024 2023 Financial assels measured at fair value through net income l expenditure 4,597,482 4,146.362 Financial assets that are debt instrument measured at amortised cosl 20,450 29,804 Finanaal liabilrties measured at amortised cost 378 372 The income, expenses, net gains and net losses attribulable the charty's financial instruments are summarised as follows.. Income and expense Financial assets meaSUd al fair value through net income l expendilure Financial assets, that are debt instruments, measured at amortised cost 66,845 1.233 70,402 1,200 Nel gains l {lossesl Financial assets measured at fair value through net Income l expenditure 451.120 200,377 10. Related paty transactions There were no related party transactions during the year. No remuneralion or expenses were paid lo trustees during the year12023: £nill.