REGISTERED CHARrfy MJMBER: 800052 CHARITY COMMISSION TRUSTEES NA TfED FIN TAT MEN FO THE EAR NDE IL TR FI CRT Limited Flat 24 Weliingtonia Court Laine Close Brighlon East Sussex BNI 6TD
CMF CHARABLE TRusr CONTEFITS OF THE FtNANCIAL ST TEms FOR TFtE YEAR ENDED 5 AFR 2024 Page Report of the Trnst¢ I b) 2 Independent Eiamlner'$ Report Statement of FIDanclal Artlvitles Balance Sheet IYot¢s tts tbe Flllandal Statemeots 6 to 11
CMF CHARITAB TRUST REPORT OF THE TRUSfEFS FOR THE YEAR ENDED 5 APRIL 2024 The trustees their rq)ort wilh the fi[cIal statements of the chaTity forthe year ended 5 Apnl 2024. The trustees have adopted the provislons of Accoullttng and ReEing by Charities: Statw¢nt of Recommended Practice applicable to chaities preparing th¢ir accoutts in accordance with the Financi Reporting Standd applicablc ill the UK and Republic of Ireland (FRS 102) (efftctive l Jaouary 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Th¢ obj¢¢tive of tbe Trust 1$ to tDake charitable donatiODS to IaL TOtIon and international ¢harity¢s, at the discretion of the Tnte¢s. Publlc benefit The Truslees conf that they have complied witb the dury in section 17 of the Charsties Art 2011 alld have referred to the guidance contained in tbe Cbarity Commission'5 general guidallce on public benefit wb¢n reviewing the Charity'5 ainis alld obj¢¢tives and in planning activitie5 and settlll8 the donatiODS policy for the year. The benefit that aTl8es is the provision of fuDding to organisatiODS that proiDOte the above objectives. AcEvElET AND PERFORMANCE Ch2rltable aetlvitles Grants totalling £51,050 for various organisations were approved in the year. DuLin8 the year to 5sb April 2024 fimds have continued to be illveed into a variety of assets managed by Cazenove Capital. Realised losses on diswbsals in the year amouDted to £123 l and unrealised gains on th¢ tnovement itt market valu¢ arnoullted to £186,836. NANCIAL REVIEW FlThHn¢lal positlon As llt 5tkn April 2024 tbe ¢lwity had fimds aftunting to £2.083273 (2023 . £1,933.126). Investment polky and objectlves The Trustees, investment policy is to protect the real capital value of the endowment fid over time whilst geDernting an income to fund donations to other charitable ItitUtiOnS. The Th]st decidcd not to adopi foTmai ethic invcstrnent policies. Reserves pollcy The ade9uacy of the reserves EK)licy is regularty review STRUCTIJRE, GOVERIYANCE AND MANAGEMENr Governlng document The cbarity is Controlled by its governing documenk a deed of tru* dat¢d 25th Au8USt 1988 and con5titutcs an unincorporat¢d charity. Recruitment and appolntment of Dew trnsteL The Trn8t¢es of the charity are listed in this repoyL The Tn D¢ed PTovide8 for a maximum of four TNstees. During the lifetime of Miss C M Ferguwn the pOtr of appointing new Trustees is vested in her and thereafter in such p¢rson or person5 as the sball by de¢ will or codicil appoinf. The Trustees sball apply the iDcome and all or part of the ,' capital of tbe trust at their absolute discretion in promotiog the objecllves of the clwity. Rlsk maDagement The Trustees have a duty to identify and Teview the risks fo which the cbarity is exw)sed ana to ensure appropriate ontrols are ID place to provide reasonable assuzance against ftaud aDd ern)r. REFERENCE AND ADNISTRATIvE DETAILS Regtstered Charlty number 800052 Page I
CMF CHARrrABLE TRusr REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 5 AFR 21n4 Principal addre&s 56 Kensington Park Road London WII 3BJ Trustees Miss C M Fcrw]son Mrs B Fortin tKes Independent Ey8mlner Christopher Robert Tyler FCA tKhA FCtE FI CRT Limitsd Flat 24 Wellingtonia Court Laine Close Brightoll East Su3sex BNI 6TD Investment ManAgeY8 Sc&roder & Co Ltd l London Wau Place Lolldon EC2Y SAU BAnkers C Hoare & Co 37 Fleet Street Lolldo EC4P 4DQ STATEMENT OF TRUSTEES. RESPONSIBTLITIES The trustees are responsible for preparing the Report of the Trustees 8nd the fuwi¢ial statements in accordance with applicable law and United Kingdom Accounting Standar(Ls (United Kingdom Genernlly Accepted AccouDting Practi¢e). The law app]icoble to ch8rities in England and Waley, the Charities A¢t 2011. Clwity (Accoutts and Reports) Regulations 2008 and the provisions of the trt deed requires the trustees to prepar¢ fmancial statements frir each fmancial year which giv¢ a true find fair view of the state of affairs of thc charity and of the iDcomin8 resDurces and application of resource& including the incotne and cxpeaditur¢, of the charity for that period. In preparing tbose financial statement4 the trustrts are requiT¢d to selecl suilable a¢countiDg licleS then apply them consistentty: observe th¢ methods and principl¢s in the Clwity SORP; make judgements and estim2tcs that are reasonable and peD¢ prepare th¢ financial *at¢meDts OD the going conc¢ro basis unless it is iDappropriate to presume that tb¢ cbarity will coLitioue in bu8iDess. Tbe trustees are respoDsiTr>le for keeping proper accounting re¢oTds whicb di103¢ with reasonable QuracY at any tirtte , tbe fLnancla] position of th¢ cbarity and io enable them to ensure the financial statements comply with the Charities Act 2011, the Cbarity (Accounts and Refft) Regulations 2008 and tbe provisions of the trust deed. They are also responsible for safeguarding the assets of the Chfizty and hen¢e for tsking Sonable steps for the prevention alld ,: detection of fraud and other irregulorities. Approved by order of the board of tnistees on .. . . and sigDed OD its behalf by. MRSSCMF Page 2
INDEPENDENT KXAMtNER'S REPORT TO THE TRusfEES OF CMF CHARITABLE TRUST Independent eminer'S report to the truste¢s of CMF Charitable Trust T report to the charity trnstees on exanjioation of the ac£Qllt of CMF Charitable Tnlst (the Tnlst) for the year ended 5 April 2024. Responsibilities and basis of report As the cbarity trustrfs of the T you are resp)nsil)le for the Preparation of the accoullts in acairdance with the requirements of the clwit1 Act 2011 Cthe Acf). T report in respect of n)y examination of the T¥S accounts carried out under Section 145 of the Act and in cryIng out Jny examination J have followed all appli(7ble Dirertyons giv¢n by th¢ ChaTity CoJDmtssion vnd¢r Sectioll 145(5)(b) of the Acl. Independent examiDeV$ st#¢ement I have completed my eLwJiDariOtL I confm t1[ Do rnaterial rnatters have cJ)me to my attention in nneCtiOn wlth the examination giving me cause to believe that tn ally DterIal respect: accounling records w¢re not kept in respect of the TTl as required by Section 130 of the A¢(. or the accounts do not a¢cord with those records. or th¢ accounts do Dot COLnpty witb the applicable requiremeots concerning1he fonn aDd CODtent of accounts set out in the Charities (Ac¢ouDts and Reports) Regu]ations ?008 oflw than any requirement tbat the accounts give a ie and fair view which is not a matter considered as part of an independent examinatiOlL I have no concerns and have come across no other matters in connection the examination to Nvhich attention should be drawi in this report in order to enable a proper undergtanding of the accouDts to be reached. ChTiStoph¢r Robert Tyler FCA DCbA FCtE FI CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BNI 6TD Page 3
CMF CHARITABLE TRUST STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Total nds fund funds Not&s JNCOME AIW ENDOWMENTS FROM Donations and legacies 492,919 Tnvestm¢nt income 33,567 33.567 20,965 Total 33,567 33,567 513,884 EXPENDITITRE ON Raisin8 funds 15,805 15,805 13,026 Cbarltsbk activttfies Support cos Charitable giwmg 2,170 31.050 2,170 51,050 2,220 74,150. 20,IXJ) Total 33220 35,805 69,025 89,396 Net gainsloosses) on investmeDts 185,60S 185,605 (82,508) 150,147 341.980 NET INCOME 347 149,800 RECONCILIATION OF FUNDS Total funds brought fotward 716 J.932.410 1.933,126 I,lj91,146 TOTAL FUNDS CARRIED FORWARD 1,063 2,082.210 2,083,273 1.933,126 Th¢ llotes fonn part of these financial stalem#its Page 4
CIWF CHARITABLE TRUST BALANCE SHEET i APRIL 2024 2024 2023 Total Unrestricled Endowme fimd Notes FTXED ASSETS IDvestments 2.093.141 2.093.141 I,922,783 CURREF4T ASSETS Cash at bank 32.163 I 1.669 4i,832 53,343 CREDITORS Amounts fa]ling due within one year (31,100) (22,61XJ) (53,700) (43,000) NET CURRENf ASSETS J,063 (10,931) (9,868) 10,343 TOT AL ASSE15 LE&S CURREiYr LIABILITtES 1,063 2,082,210 2,083,273 1,933,126 NET ASSETS 1.063 2,082,210 2,083273 1,933,126, FUNDS UeStrICted funds Elldowm¢ni fund$ io 1,063 2,082,210 716 I,932,410 TOTAL FUNDS 2,083,273 1,933,126 The faClo1 statements were approved by the Board of Tn Ènd authorised for issue on .. and were signed on its Lxhalf by: C M Ferguson - T The llt form part of Ihese fllJan¢i81 sta*ments Pag¢ 5
NOTES TO THE FINANCIAL STATElENTs FOR THE ENDED 5 APRtL 2024 ACCOU]YfiNC POLICIES Basis of preparing the fiuaocial ststements The financial Statern of the clmritable company, which is a pub]ic benefit entity under FRS102, have been prepared in accordance witb the Charities SORP (FRS102) 'AccounliDg and Reporting by Charities: Statement of Recommended Practice applicable to C}ltIeS preparing their accowits wtth the Finfintial R2portÉng StaT)dard applicable in the UK al Republic of Trel8nd IFRS102) (effectiv¢ l JaDuaty 2019),, Financial Reporting Standard FRS102 The Financial Reportillg Standard applicable in the UK and Republic of Ireland, alld the Charities Ad 2011. The fitmnrial Statements have been prepar¢d wid¢r th¢ histori cost CODv¢nÉio The accouDts are pr¢pared io s¢ffi1 wbich 15 the fun¢tiona] currency of the cknity. Mon¢tary anioiints in these financial statem¢nls are rounded to the nearest £. The IrusleedlyQ¢toYS consider ttt there are no rnaterial Une5 about the companys ablty to Contine as a going concern. Income All incorne is recognised in the Statement of Financial Activities Once the charity has enti(leDMtt to the fLmds, it is probable that the iDcome will be received and the amount caD be measur&J reliably. Expendllure Liabilities are recognised a8 exditure as soon as there is a kgal or constructive obligation o)nYnitting the cbarity io expenditure, it is probable thal a transfer of economic benefits will be required in settlen]ent and the amount of the obligation can be $ed reliabty. Expenditllre is accounted for OD aD accruals basis and has been classified under headings Ébat aggregate all cost related to the category. Wh¢re costs catsnot be directly attributed to par(i¢ular beadings they have Ix¢n allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions w,hich have ru)t been n)et the year end dat¢ are noted as a conuTJitment but not 8ccrued &s expenditure. Taxatlon The cRwAty is cxempt from on its charitable activities. Fund accounting Unres Incom GenerrAI UDTestricted fid5 comprise accwnulated suTuSeS and deficits and inveslmeDt income derived from the harity's investtllents. Th¢ fuud is availabl¢ for us¢ at the discretion of the trustees in furtknerance of the general haritable objectives. UDT ent The endowment fund wnprises as8¢ts wbich ran be appti¢d in the satne way as tb¢ incorne fund. Investments Stocks and sbares quoted on the London Stock Exchange are included in the balance sheet at their market value at the year end. The dilyerences between the nwket value aDd the original cost of the investment are included in the StaterneDt of Financial A¢tiviri¢s. No wwoted inve5tDients are beld. Profils and losses arÉsitig on the disposal of investments are iluded in the StatenLenr of FiDancial Activilies. Page 6 ¢ontiuued...
CMF CHARrrABLE TRUST NOTES TO THE FINAIYCIAL STATEMENTS - continued FOR THE YEAR EMIED 5 APRtL 2024 2024 2023 Deposit account interest Dividends 6.019 27.54S 4.77S 16,187 33.567 20,965 RAISING FUIYDS Investment maDagemellt Costs 2024 2023 PorlfoliomaDagement 15,805 13,026 GRANTS PAYABLE 2024 2023 Charitable giving 51,050 74,150 The tofaj granis paid to institutions during the year was as follows: 2024 2023 The Ahoy Centre 3H Fund (Helping Hands for Holidays) Centrepoint CRISIS Detnand Desi & Manufa¢titring tor Disabilty Exr(LOOT Trust FaThily Holiday A&sociation The Felix Project Fine Cell Work Friends oflsrael Sport Centre Go Beyond Kensington and Chelsea Foundation Museum of BTands Ltd The Nucleo Ptoj¢ct Revitalise Sense Tender Education & iirts Turkeylsyria Earthquak¢ Appeal [j81c App¢ West London Wel¢ome Wormwood Scrubs Pony Centre L¢ss: grants committed for in 2023 Add: granls committed for in 2024 4,0(h) 3,000 2,000 1.000 3,000 2,500 2,500 1,500 2.000 1,000 2.500 2,500 1,500 2,0(10 250 3.300 2,000 2,000 3,300 3,050 2,000 4,000 1.500 2,000 2,000 1,500 2,000 2,000 10,000 10,000 2,000 2,000 5,000 (38,600) 49JOO (15,000) 38,600 51,050 74,150 Page 7 continued...
CMF CHAIUTABLE TRUST NOTES TO THE FINANCIAL TEmENTS . continued FOR THE YEAR EM)ED 5 APRtL 2024 SUPPORT COSTS Governance costs Support costs 2.170 Support ¢ost4 included io the atx)ve, are as follows: 2024 Support ¢osts 2023 Total activities Accowltancy Ind¢pendent exami1$ f¢¢s Bank chargles 600 1,210 360 600 420 2,170 2,220 TRUSTEES. REMUNERATION AND BENEFITS There w¢r¢ no Inlslees. remuneration or other benefrts for the year ended 5 April 2024 nor for year ended 5 April 2023. Truslte$' upenses There were no ÉNstees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023. COMTrARATAVES FOR THE STATEMENT OF FIIYANCIAL A1VITIEs Unrestric*d EndowThent fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 67,919 425,000 492.919 ]nvesknent income 20.965 20,965 Total 88.884 425,000 513,884 EXPENDITURE ON Raisin8 funds 13,026 13,026 Charltabk a¢tSvltles Support wsts Charilable giving 2.220 74,150 2,220 74,150 Total 76,370 13,026 89,396 Net 800S$e$} on investments (82,508) (82,508) NET INCOME 12,514 329,466 341.980 RECONCILIATION OF FUNDS TIX funds brought forw (11,798) 1,602,944 1,591,146 Page 8 continued..
CMF CHARfiABLE TRUST NOTES TO THE FINANCIAL STATElErs . continued FOR THE YLAR ENDED 5 APRIL 2024 Unrestricted Endowment fund Total fi]nds TOTAL FUNDS CARRiED FORWARD 716 1.932.410 1,933,126 Ca3b and List settlements InvestDieDts Totals MARKET VALUE At 6 April 2023 Addition$ Disposals at carrying value Revaluations At 5 April 2024 1,461,104 997,355 (584,932) 461,679 l.922,783 997,355 (426,557) (1,011,489) 058 ET BOOK VALUE At 5 April 2024 At 5 April 2023 22 There were no illvestDi¢nt &8sets outside the UL Historical cost of investments at 5 April 2024 w&8 £1,836,403. CREDITORS: AMouKfs FALLING DUE WITHIN ONE YEAR 2024 2023 Accountancy IndepcndeDt examinerfs fees Investment maDaEefs fees Grant creditors 738 1,062 2.600 49.300 738 1,062 2.600 38,600 53,700 43,000 10. MOVEMEIYT IN FUIYDS Net moven]ent in funds At 5.4.24 Ai 6.4.23 Unrestrleted fundg Gen¢ral fund 716 347 1,063 Endowment funds EndowmeDt fd 1,932,410 149,8(K) 2,082,210 TOTAL FUNDS 1933,126 150,147 2,083,273 Page 9 continued...
CMF CHARJTABLE TRUST NOTES TO THE FINAIYCIAL yfATEMENfs . continoed FOR THE YEAR ENDED 5 APRtL 2024 10. MOVEMENT IN FtJM)S- contAnU Net movement in fund4 in¢]]Mled Kn the aLK)ve are as follows: Incoming r¢sour¢¢5 Resources Gains and Movement ¢xpeDded losses in funds liTrrestricted funds GeDCTal fund 33,567 (3322Q) 347 Endoivment funds Endowment hnd (35,805) 185,605 149,800 TOTAL FUNDS 33,567 (69,025) 185,605 150.147 Comparnllves for movement In fvnds Net movement in fijndg At 5.4.23 At 6.4.22 Unrestrleted General fid (11,798) 12,514 716 Endowment fuDds Endowm¢nt fimd 1.6tr2,944 329,466 1,932,410 TOTAL FUNDS 1,591,146 341,980 1,933,126 Comporative net movement in included in the above are &s follows: Resources expend Gains and losses Movement iu funds Te50urc¢s Unreslrlcted General fund 88,884 (76.370) 12,514 Endowment Thnds Endowment fid 425.000 (13.026) (82,508) 329,466 TOTAL FUNDS S13,884 (89,396) (82,508) 341,980 Page 10 colltinued...
NOTES TO THE FJNANCIAL STATEMEKfs . continued FOR THE YEAR ENDED 5 APR 2024 I I. RELATED PARTY DISCU>SURES Donations of thil (2023 . £492,919) were tnade to the Trust by Miss C M Ferguson, a trustee, in the year. The Trust made graDts to Kensington and Chelsea Foundation of £3,050 Q023 . £2.(X)O) during the year. Miss C M F¢rguson is a truste¢ of this cljarity. Pagell