**The Earl of Derby's Charitable Trust**
**Unaudited financial statements for the year ended 5[th] April 2025**
**The Earl of Derby's Charitable Trust**
## **Business information**
|**Charity registration number**|515783|
|---|---|
|**Trustees**|The Rt Hon 19thEarl of Derby DL|
||Lord Edward Stanley|
|**Business address**|Knowsley Hall|
||Prescot|
||Merseyside|
||L34 4AG|
|**Investment managers**|Stonehage Fleming Investment Management Limited|
||15 Suffolk Street|
||London|
||SW1Y 4HG|
|**Solicitors**|Boodle Hatfield|
||6 Worcester Street|
||Oxford|
||Oxfordshire|
||OX1 2BX|
**The Earl of Derby's Charitable Trust**
## **Contents**
||**Page**|
|---|---|
|Report of the Trustees|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7 - 12|
**The Earl of Derby's Charitable Trust**
**Report of the trustees for the year ended 5 April 2025**
## **Introduction**
The trustees present their report and financial statements for the charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 7 which comply with the Charity's Trust Deed, dated 23 August 1984, and applicable law. The charity is a registered charity, number 515783.
## **Structure, Governance and Management**
## _Governing Document_
The charity is an unincorporated trust, constituted under a Trust Deed dated 23 August 1984. The charity was established by The Rt Hon The 18th Earl of Derby MC with an initial sum of £100,000 to be held and applied by the trustees for general charitable purposes.
## _Recruitment, Appointment and Training of Trustees_
The Trust Deed gave the power to appoint new trustees to the original settlor, The Rt Hon The 18th Earl of Derby MC, during his lifetime. After this period, the existing trustees have the power to appoint new trustees. Trustees are recruited from the immediate family and professional advisors of the original settlor.
Given the background from which the trustees are recruited, the trustees come to the role with a significant level of knowledge regarding the objects and aims of the charity and the related compliance work. In addition to this, the trustees gain regular updates from their professional advisors in order to keep them fully conversant with these issues.
No Trustee received remuneration during the current year or previous year.
## _Organisational Structure_
At a twice yearly trustees' meeting, the trustees agree the broad strategy and areas of activity of the Trust. They consider the performance of the Trust's investments and review the risks facing the charity. The day to day administration of any charitable grants is delegated to administrative staff of The Rt Hon 19[th] Earl of Derby DL’s Knowsley Estate.
## _Risk Management_
The trustees have examined the major risks facing the charity, in particular those relating to the operations and finances of the charity and anything that might affect the Trustees’ ability to realise their objectives. The Trustees are satisfied that systems are in place to mitigate the major risks.
## **Object and Activities**
The charity was initially established as a 'grant making' charity. The objectives as set out in the Settlement Deed of the charity are to provide exclusively for the promotion, support and advancement of charitable purposes of all kind according to the law in England and Wales. In particular the policy has been to provide charitable support firstly within the areas of Cheshire, Lancashire, Merseyside, Greater Manchester and Cumbria and secondly, nationally. When planning activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit.
Page 1
**The Earl of Derby's Charitable Trust**
## **Report of the trustees for the year ended 5 April 2024**
The charity has received a substantial number of grant applications from outside of Merseyside and from more affluent parts of the region. It was noted that although the Trust Deed broadly states that the funds will be for the benefit of the inhabitants of the North West, the trustees wish to focus their attentions to small, local charities in more deprived areas of Merseyside. This has been one of the key objectives of the current financial year.
## _Grant Making Policy_
The Trust makes a number of recurrent grants every year to certain institutions. However, the Trust also welcomes applications from other organisations that fall within the objects described above. The Trust has no predetermined policy for awarding grants. Grants are made on the perceived merits of every application and the details of the recurrent and non-recurrent grants made in the year are detailed at note 6.
## **Financial Review**
During the year income of £29,738 (2024: £30,823) was received, arising from investments held by the Trust.
The Trustees have used the income to support their charitable donations in the year. The total expenditure in the year was £19,087 and did not exceed income by £10,651. (2024: expenditure £21,770).
The net movement in funds in the year, as shown in the statement of financial activities, amounted to a decrease of £4,294 (2024: increase of £91,022)
## _Investment Policy_
Investments are made at the discretion of the trustees, acting on the advice from their investment advisors, and in accordance with the Trust Deed.
## _Reserves Policy_
It is the policy of the charity to carry sufficient reserves to cover the management and administration costs of the Trust and to respond to recurrent grant applications.
The restricted fund is to be applied specifically towards the maintenance of the fabric of St Mary's Church, Knowsley.
## **Future Plans**
The Trust intends to continue to receive applications for grants from a variety of different bodies. Each application will be considered on its own merit. However, as mentioned above, it is the intention of the Trust to focus grant making in the more deprived areas of Merseyside.
Page 2
**The Earl of Derby's Charitable Trust**
## **Report of the trustees for the year ended 5 April 2024**
## **Trustees and their responsibilities**
The trustees who served during the year were:
The Rt Hon 19[th] Earl of Derby DL
Lord Stanley
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, applicable accounting regulations and the provisions of the trust deed. They 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.
## _Derby_
......................................
The Rt Hon 19[th] Earl of Derby DL
Page 3
**The Earl of Derby's Charitable Trust**
## **Independent examiner’s report to the trustees of the Earl of Derby’s Charitable Trust**
I report to the trustees on my examination of the accounts of the Earl of Derby’s Charitable Trust (the Trust) for the year ended 5 April 2025.
## **Respective Responsibilities of trustees and examiner**
As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
## Irene Hamilton
................................. **Irene Hamilton FCCA**
Date: 5[th] January 2026
Address: Knowsley Estate KNOWSLEY PARK Prescot L34 4AG
Page 4
**The Earl of Derby's Charitable Trust**
## **Statement of financial activities For the year ended 5 April 2025**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Fund**|**Knowsley**|**2025**|**2024**|
||||**Church Fund**|||
||**Notes**|**£**|**£**|**£**|**£**|
|**Incoming resources**||||||
|- Investment income|**4**|29,737|2,344|32,082|28,164|
|- HMRC Tax Refund|||||2,659-|
|Total incoming resources||29,737|2,344|32,082|30,823|
|**Resources expended**||||||
|_Costs of generating funds:_||||||
|- Investment manager costs||6,022|515|6,537|5,878|
|- Bank charges||68||68|1|
|- Accountancy||108||108|300|
|_Costs of charitable activities_|**5**|12,888||12,888|15,815|
|Total resources expended||19,087|515|19,602|21,770|
|**Net (resources expended) / incoming**||10,651|1,829|12,480|9,053|
|**resources for the period**||||||
|Realised and unrealised gains / (losses) on||(15,566)|(1,208)|(16,774)|81,968|
|investment assets||||||
|**Net movement in funds**||(4,915)|621|(4,294)|91,022|
|Total funds brought forward as at 6 April||||||
|2024||967,574|67,590|1,035,164|944,142|
|**Total funds carried forward as at 5 April**||||||
|**2025**||962,659|68,211|1,030,871|1,035,164|
Page 5
**The Earl of Derby's Charitable Trust**
## **Balance sheet**
## **As at 5 April 2025**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Fund**|**Knowsley**|**2025**|**2024**|
||||**Church Fund**|||
||**Notes**|**£**|**£**|**£**|**£**|
|**Quoted investments at market value**|**3**|902,570|60,382|962,952|979,726|
|||902,570|60,382|962,952|979,726|
|**Current assets**||||||
|Cash deposits||59,507|12,269|71,776|55,438|
|Amount due from restricted fund||563|-|-|4,279|
|||60,070|12,269|71,776|59,717|
|**Current liabilities**||||||
|Amount due to unrestricted fund|||563||4,279|
|Other creditors||||||
|**Assets representing Unrestricted and**||||||
|**Restricted Funds (page 5)**||962,640|72,088|1,034,728|1,035,164|
The financial statements were approved by the Trustees on 5[th] January 2026
## _Derby_
......................................
The Rt Hon 19[th] Earl of Derby DL
Page 6
**The Earl of Derby's Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
## **1 Accounting policies**
## **1.1 General**
The financial statements have been prepared on the going concern basis, under the historical cost convention as modified by the inclusion of investments at market value.
The financial statements have been prepared in accordance with the accounting policies set out below, the Charities Act 2011 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).
## **1.2 Investments**
Investments are included in the accounts at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities, whether that be realised or unrealised.
## **1.3 Income**
Investment and other income is recognised in the period in which the Charity is entitled to receipt.
## **1.4 Expenditure**
Donations are included in the accounts when they are payable and administrative expenditure is included on an accruals basis.
## **1.5 Taxation**
The Charity is a registered Charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
## **1.6 Funds**
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
Restricted funds are funds that have been given for particular purposes and projects. The restricted fund must be used wholly to provide grants for the maintenance and upkeep of St Mary's Church, Knowsley.
Page 7
**The Earl of Derby's Charitable Trust**
## **Notes to the accounts**
## **For the year ended 5 April 2025**
|**2**|**Comparative statement of financial**|**activities**||||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Unrestricted**|**Restricted**|
|||**Fund**|**Knowsley**|**Fund**|**Knowsley**|
||||**Church Fund**||**Church Fund**|
|||**2025**|**2025**|**2024**|**2024**|
|||**£**|**£**|**£**|**£**|
||**Incoming resources**|||||
||- Investment income|29,737|2,344|26,080|2,084|
||- Miscellaneous income|||2,659||
|||||______|_______|
||Total incoming resources|29,737|2,344|28,739|2,0841|
||**Resources expended**|||||
||_Cost of generating funds:_|||||
||- Investment manager costs|6,022|515|5,329|5495|
||- Bank charges|68||3|6|
||- Accountancy|108||516|1|
||_Costs of charitable activities_|12,888||15,373|-1|
|||||______|_______|
||Total resources expended|19,087|515|21,221|5491|
||**Net (resources expended) /**|10,651|1,829|7,518|1,535(|
||**incoming resources for the period**||||1|
||Realised and unrealised gains /|(15,566)|(1,208)|77,854|4,114(|
||(losses) on investment assets||||1|
||**Net movement in funds**|(4,915)|621|85,372|5,650(|
||||||8|
||Total funds brought forward as at 6|967,574|67,590|882,183|61,9598|
||April 2024||||5|
||**Total funds carried forward as at 5**|962,659|68,211|967,555|67,6097|
||**April 2025**||||1|
Page 8
**The Earl of Derby's Charitable Trust**
**Notes to the accounts For the year ended 5 April 2025**
|**3** **Fixed asset investments**
**Unrestricted**
**Funds**
**Restricted**
**Knowsley**
**Church Fund**
**£**
**£**
**Market value as at 6 April 2024**
918,136
47,290
Less: Disposals at market value
Add: Acquisitions at cost
Net gain / (loss) on revaluation
(15,566)
(1,208)
**Market value as at 5 April 2025**
902,570
60,382
**Historic cost as at 5 April 2025**
The classes of investments held at
the year end were as follows:
Quoted
Venture Funds
Alternative Strategies
Bonds
Other
Investments in individual entities
held at 5 April 2025 which are over
5% of portfolio by value are:
Artemis Fund Managers Global
Jupiter Merlin Growth Portfolio
TB Evenlode Investment Funds
TM Redwheel Funds
Tm Stoneage
Bluebay Funds Management
Pimco Global Advisors|**Total**
**2025**
**Total**
**2024**
**£**
**£**
979,726
896,275
(139,727)
141,210
(16,774)
81,968
962,952
61,5907
747,966
777,6347
**Market Value**
**£**
577,477
3,085
68,517
313,357
962,952
**Market Value**
**£**
71,482
113,415
83,416
87,156
141,171
60,796
76,755
634,191|
|---|---|
|||
Page 9
**The Earl of Derby's Charitable Trust**
## **Notes to the accounts**
**For the year ended 5 April 2025**
|**4**
**Investment income**
**2025**
**£**
Dividends - UK equities
12,466
Dividends - Overseas investments
15,621
Interest on UK investments
3,994
Interest on Overseas investments
32,082
**5**
**Analysis of charitable expenditure**
**Grant Funding Institutions**
**2025**
**£**
Age, disablement and sickness
894
Education and youth
2,150
Racing charities
1,000
Religious organisations
6,400
General charitable causes
2,445
12,889
**6**
**Analysis of donations**
**2025**
**£**
**Age, disablement and sickness**
_Recurrent payments:_
Willowbrook Hospice
_Non recurrent payments:_
The Curepark London
56
Alzheimers
56
Royal Trinity Hospice
281
Alder Hey’s Children’s Charity
500
894|**2024**
**£**
11,351
2,775
11,976
2,060|
|---|---|
||28,164|
||**2024**
**£**
750
3,000
2,000
4,650
4,973|
||15,373|
||**2024**
**£**
750|
||750|
||750|
Page 10
**The Earl of Derby's Charitable Trust**
## **Notes to the accounts**
**For the year ended 5 April 2025**
|**Education and youth**
_Recurrent payments:_
Acorn Venture Farm
Animal Health Trust
St Helens Sea Cadets (TS Scimitar)
Zoe’s Place
Boy’s Brigade Liverpool
_Non Recurrent payments:_
1stWhiston Scouts
Liverpool College
**Racing**
_Recurrent payments:_
British Racing School
Racing Welfare
_Non Recurrent payments:_
**Religion**
_Recurrent payments:_
St Saviours Church, Wildboarclough
St Michael’s Church, Huyton
St Peter & St Paul Church, Ormskirk
Holy Trinity, Bickerstaffe
Liverpool Cathedral
_Non Recurrent payments:_
St Mary’s Church, Knowsley||1,000
1,000
2,000
150
2,150
1,000
1,000
-
1,000
1,000
1,000
1,000
1,000
2,400
6,400
-
6,400||750
750
750
750
2,250
750
3,000
1,000
1,000|
|---|---|---|---|---|
||||||
||||||
||||||
|||||2,000
-|
|||||2,000|
|||||750
750
750
2,400|
|||||4,650|
|||||4,650|
Page 11
**The Earl of Derby's Charitable Trust**
## **Notes to the accounts**
**For the year ended 5 April 2025**
## **General**
|_Recurrent payments:_
Liverpool Charity and Voluntary Services
RNRMC (Royal Navy and Royal Marine Charity)
_Non Recurrent payments:_
Miscellaneous
The Royal Liverpool Philharmonic Orchestra
Knowsley War Memorial
Total grants from unrestricted funds
Total grants from restricted funds
**Total grants**|269
2,176
2,445
12,889
-
12,889|-|
|---|---|---|
|||2,973
1,000
1,000|
|||4,973|
|||15,373
-|
|||15,373|
Donations approved by the Trustees during their meetings in the year, but not paid at the year end, amounted to nil (2024: nil).
## **7 Trustees’ remuneration**
Trustees received no remuneration (2024: £nil) and were not reimbursed for any expenses in the year (2024: £nil).
## **8 Staff Costs**
There are no paid employees or volunteers that work for the Charity.
## **9 Related party transactions**
The trustees do not consider there to have been any related party transactions requiring disclosure in either the current or prior years.
Page 12