at
REGISTERED CHARITY NUMBER: 800052
“MARITY TY
7
.
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 FOR .
CMF CHARITABLE TRUST
Fl CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD
.« CMF CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED § APRIL 2025
.
Page , Report of the Trustees 1 to 2 Independent Examiner's Report 3 Statement of Financial Activities 4 Balance Sheet 5 Notes to the Financial Statements 6 to ll
- CMF CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR ‘THE YEAR ENDED 5 APRIL 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees | have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabie in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the Trust is to make charitable donations to local, national and international charities, at the discretion of the Trustees.
Public benefit
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the donations policy for the year. Fhe benefit that arises is the provision of funding to organisations that promote the above objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Grants totalling £52,000 for various organisations were approved in the year. ,
During the year to 5th April 2025 funds have continued to be invested into a variety of assets managed by Cazenove Capital. Reatised gains on disposals in the year amounted to £3,473 and unrealised losses on the movement in market value amounted to £66,290.
FINANCIAL REVIEW
Financia] position
As at 5th April 2025 the charity had funds amounting to £1,977,159 (2024 : £2,083,273).
Investment policy and obj ectives
The Trustees’ investment policy is to pratect the real capital value of the endowment fund over time whilst generating an income to fund donations to other charitable institutions. The Trust decided not to adopt formal ethical investment policies.
Reserves policy
The adequacy of the reserves policy is regularly reviewed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed. of trust dated 25th August 1988 and constitutes an unincorporated charity. ,
Recruitment and appointment of new trustees
The Trustees of the charity are listed in this report. The Trust Deed provides for a maximum of four Trustees.
During the lifetime of Miss C M Ferguson the power of appointing new Trustees is vested in her and thereafter in such person or persons as she shall by deed, will or codicil appoint. The Trustees shail apply the income and ail or part of the capital of the trust at their absolute discretion in promoting the objectives of the charity.
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
800052
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» CME CHARITABLE TRUST
7 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
Principal address 56 Kensington Park Road London W113BJ
Trustees Miss C M Ferguson Mrs B Fortia Lees
, ;
Independent Examiner
Christopher Robert Tyler FCA DChA FCIE Fi CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex . BNI 6TD
Investment Managers Schroder & Co Ltd 1 London Wall Place London
EC2¥ 5AU
Bankers C Hoare & Ca 37 Fleet Street London EC4P 4DQ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a frue and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, ihe trustees are required fo
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select suitable accounting policies and then apply them consistently;
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- observe the methads and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriateto presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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. Pa Approved by order of the board of trustees on bbPAPE. and signed on its behaif by:
Miss C M Ferguson - Trustee
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‘
+ INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF CMF CHARITABLE TRUST
Independent examiner's report to the trustees of CM Charitable Trust
TF report to the charity trustees on my examination of the accounts of CMF Charitable Trust (the Trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the tequirements of the Charities Act 2011 (‘the Act’).
Lreport in respect ofmy examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all appticable Directions given by the Charity Commission under Section 145(3}(b)_ of the Act.
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Independent examiner's statement
T 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:
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L. 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
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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.
T 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.
Christopher Robert Tyler FCA DChA FCIE
F1 CRT Limited
Flat 24 Wellingtonia Court
Laine Close Brighton East Sussex BN1 6TD
Date: XAS™. Sn, BRAS...
Page 3
» CME CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED5 APRIL 2025
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----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Endowment|Total|Total|
|fund|fund|funds|fands|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Investment|income|2|28,642|-|28,642|33,567|
|EXPENDITURE|ON|
|Raising|funds|:|3|-|17,769|17,769|15,805|
|Charitable|activities|
|Support|costs|2,170|-|2,170|2,170|
|Charitable|giving|22,000|30,000|§2,000|51,050|
|Total|24,170|47,769|71,939|69,025|
|Net gains/(losses)|on|investments|_-|(62,817)|(62,817)|185,605|
|NET INCOMEAEXPENDITURE)|4,472|(110,586)|(106,174)|150,147|
|RECONCILIATION OF FUNDS|
|Total funds|brought|forward|1,063|2,082,210|2,083,273|1,933,126.|
|TOTAL FUNDS CARRIED FORWARD|5,535|1,971,624|1,977,159|2,083,273|
----- End of picture text -----
The notes form part of these financial statements
Page 4
- €MF CHARITABLE TRUST
.
BALANCE SHEET
5 APRIL 2025
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|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Endowment|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|z|£|
|FIXED|ASSETS|
|Invesiments|8|-|1,963,102|1,963,102|2,093,141|
|CURRENT|ASSETS|
|Cash|at bank|16,835|11,122|27,957|43,832|
|CREDITORS|
|Amounts|falling|due within|one year|9|(11,300)|(2,600)|(13,900)|(53,700)|
|NET CURRENT ASSETS|5,535|8,522|14,057|(9,868)|
|TOTAL|ASSETS|LESS CURRENT|
|LIABILITIES|5,535|1,971,624|1,977,159|2,083,273|
|NET ASSETS|5,535|1,971,624|1,977,159|2,083,273|
|FUNDS|10|
|Unrestricted|funds|3,535|1,063|
|Endowment finds|1,971,624|2,082,210|
|TOTAL FUNDS|1,977,159|2,083,273|
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The financial statements were approved by the Board of Trustees and authorised for issue on Rofl[ar][ and][ were][ signed][ on][ its][ behalf][ by:] Cceof eWn
The notes form part of these financial statements
Page 3
- CMF CHARITABLE TRUST NOTES TO THE FINANCTAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
:
- ACCOUNTING POLICIES
Basis of preparing the financial statements , The financial statements of the charitable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)', Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trustees/directors consider that there are no material uncertainties about the company’s ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related io the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
.
Fund accounting
:
Unrestricted Income Fund
General unrestricted funds comprise accumulated surpluses and deficits and investment income derived from the charity's investments. The fund is available for use at the discretion of the trustees in furtherance of the general charitable objectives.
Unrestricted Endowment Fund
The endowment fund comprises assets which can be applied in the same way as the income fund.
Investments
Stocks and shares quoted on the London Stock Exchange are included in the balance sheet at their market value at the year end. The differences between the market value and the original cost of the investment are included in the Statement of Financial Activities. No unquoted investments are held. Profits and losses arising on the disposal of investments are included in the Statement of Financial Activities.
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continued...
» CMF CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 3 APRIL 2025
| 2. | INVESTMENTINCOME | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| : | £ | £ | ||
| Deposit account interest | 1,337 | 6,019 | ||
| Dividends | 27,325 | 27 548 | ||
| 28,642 | 33,567 | |||
| 3. | RAISING FUNDS | |||
| Investmentmanagement costs | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Portfoliomanagement | 17,769 | 15,805 | ||
| 4, | GRANTSPAYABLE | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Charitable giving | 52,000 | 51,050 | ||
| Thetotalgrants paidto institutions during the yearwas as follows: | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| TheAhoy Centre | 4,000 | 4,000 | ||
| The Appledore BookFestival | 5,000 | " | ||
| Centrepoint | 2,000 | 2,000 | ||
| CRISIS | - | 1,000 | ||
| ExmoorTrust | 2,500 | 2,500 | ||
| FamilyHolidayAssociation | 2,500 | 2,500 | ||
| Fhe Felix Project | 1,500 | 1,500 | ||
| Fine CellWork | - | 2,000 | ||
| GoBeyond | 3,300 | 3,300 | ||
| Kensington and Chelsea Foundation | 52,500 | . 3,030 | ||
| Museum ofBrands Ltd | 2,000 | 2,000 | ||
| TheNucleo Project | 4,000 | 4,000 | ||
| Revitalise | 1,500 | 1,500 | ||
| Sense | 2,000 | 2,000 | ||
| TenderEducation& Arts | 2,000 | 2,000 | ||
| WestLondon Welcome | 2,000 | 2,000 | ||
| Wormweod ScrubsPony Centre | 5,000 | 5,000 | ||
| Less: grantscommitted for in2024 | (49,300) | (38,600) | ||
| Add: grants committedfor ih2025 | 9,500 | 49,300 | ||
| 52,000 | 51,050 |
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« CMF CHARITABLE TRUST
)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
- SUPPORT COSTS
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|---|---|---|---|---|---|---|---|
|Governance|
|costs|
|£|
|Support|costs|2,170|
|Support|costs,|included|in the|above,|are|as|follows:|
|2025|2024|
|Support|Total|
|costs|activities|
|£|£|
|Accountancy|600|600|
|Independent|examiner's|fees|1,200|1,216|
|Bank|charges|370|360|
|2,170|2,170|
----- End of picture text -----
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees’ expenses
There were no trustees expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
)
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|---|---|---|---|---|
|7.|COMPARATIVES FOR THE|STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|Endowment|Total|
|fund|fund|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS FROM|
|Investment|income|33,367|-|33,567|
|EXPENDITURE|ON|
|Raising funds|-|15,805|15,805|
|Charitable|activities|
|Support|costs|2,170|-|2,170|
|Charitable|giving|31,050|20,000|31,050|
|Total|;|33,220|35,805|69,025|
|Net gains on mvestments|-|185,605|185,605|
|NET INCOME|347|149,800.|150,147|
|RECONCILIATION|OF FUNDS|
|Total funds brought forward|716|1,932,410|1,933,126|
|TOTAL FUNDS CARRIED FORWARD|1,063|2,082,210|2,083,273|
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» CMF CHARITABLE TRUST
NOTESTO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
- FIXED ASSET INVESTMENTS
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|---|---|---|---|---|---|---|---|
|Cash|and|
|Listed|settlements|
|Investments|pending|Totals|
|£|£|£|
|MARKET|VALUE|
|At|6|April 2024|2,058,019|35,122|2,093,141|
|Additions|401,792|-|401,792|
|Disposals|at carrying value|(438,850)|(25,666)|(464,516)|
|Revaluations|(67,315)|:|(67,315)|
|At|5|April 2025|:|1,953,646|_|9,456|1.963.102|
|NET BOOK VALUE|
|At|5|April 2025|1,953,646|9,456|1,963,102|
|At|5|April|2024|2.058.019|35,122|2.093.141|
|There|were no|invesiment|assets|outside|the UK.|
|Historical cost|of investments|at|5|April 2025|was|£1,786,974,|
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- CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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||||||
|---|---|---|---|---|
|2025|2024|
|£|£|
|Accountancy|738|738|
|Independent|examiner's|fees|1,062|1,062|
|Investment manager's|fees|2,601|2,600|
|Grant|creditors|9,499.|49,360|
|13,900|53,700|
|16.|MOVEMENT|IN FUNDS|
|Net|
|movement|At|
|At|6.4.24|in|finds|5.4.25|
|£|£|£|
|Unrestricted|fuads|
|General|fund|1,063|4,472|5,535|
|Endowment|funds|
|Endowment|fund|2,082,210|(110,586)|1,971,624|
|TOTAL FUNDS|2,083,273|(106,114)|1,977,159|
----- End of picture text -----
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- CMF CHARITABLE TRUST
: NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED § APRIL 2025
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
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||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unresiricted|funds|
|General|fund|28,642|(24,170)|-|4,472|
|Endowment|funds|
|’|Endowment|fund|-|(47,769)|(62,817)|(110,586)|
|TOTAL FUNDS|28,642|(71,939)|(62,817)|(106,144)|
|Comparatives|for movement|in|funds|
|.|Net|
|movement|At|
|At|6.4.23|in|funds|$.4.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|716|347|1,063|
|Endowment|funds|
|Endowment find|1,932,410|149,806|2,082,210|
|TOTAL FUNDS|1,933,126|150,147|2,083,273|
|Comparative net movement in|funds,|included in the above|are|as|follows:|
|.|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund.|33,567|(33,220)|-|347|
|Endowment|funds|
|Endowment|fund|-|(35,805)|185,605|149,800|
|TOTAL FUNDS|33,567|(69,025)|185,605|150,147|
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» CME CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FGR THE YEAR ENDED § APRIL 2025
11. RELATED PARTY DISCLOSURES
The Trust made grants to Kensington and Chetsea Foundation of £52,500 (2024 : £3,050) during the year. Miss C M Ferguson is a trustee of this charity.
Page 11