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THE MICHAEL COHEN TRUST

Registered charity 1094275 · accounts filings on the Charity Commission register

The Charity was formed by Sir Ronald Cohen, in memory of his father Michael Cohen. Its purpose is 'The support of Education at Exeter College (University of Oxford)'. The charity is relatively new and has been growing its capital base. However the Trustees have now agreed a formal grant distribution plan and grants are now being made on an annual basis.

Causes: Education/training · website · Get email alerts

Latest income
£65k
Latest spending
£442k
Registered
2002
Accounts read
FY2025

Financial health, per its FY2025 accounts

The accounts state that the Trust reported a net movement in funds of £228,387 for the year ended 31 July 2025, driven by investment gains. The Trust holds total funds of £9,367,431, with a general reserve of £39,080 which the Trustees consider sufficient to meet two years of overhead expenditure. The Trust does not actively fundraise and employs no staff.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Largest income source: Investment income (99% of income)
“Investment income 3 203 567 63,684 64,454 81,857” — page 9
Per its FY2025 accounts as filed with the Charity Commission.
Reserves position: below the charity's own stated reserves policy (held: £39k; policy: two years’ worth of overhead expenditure)
“At 31st July 2025, the General Reserve amounted to £39,080 (2024: £27,105). The Trustees are therefore content with this level of reserves.” — page 4
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Grant to Exeter College
“The Trust made a grant of £354,000 (2024: £328,850) to the College, all of which remained outstanding at the year end. Dr Andrew Roe and Dr Barnaby Taylor were also Trustees of the College during the period under review.” — page 16
“The Trust has entered into three Revolving Credit Facilities (RCF loans) of up to $1.58m each (in agregate $4.74m or £3.6m) with Exeter College (the sole beneficiary of the Michael Cohen Trust) in order to invest in selected Apax funds.”
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Revolving Credit Facility with Exeter College
“The Trust made a grant of £354,000 (2024: £328,850) to the College, all of which remained outstanding at the year end. Dr Andrew Roe and Dr Barnaby Taylor were also Trustees of the College during the period under review.” — page 16
“The Trust has entered into three Revolving Credit Facilities (RCF loans) of up to $1.58m each (in agregate $4.74m or £3.6m) with Exeter College (the sole beneficiary of the Michael Cohen Trust) in order to invest in selected Apax funds.”
Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by Moore Kingston Smith LLP. Discloses 5 of 6 completeness components.

Funders the charity credits

Named as funders/supporters on the charity’s own website (the charity’s claim, distinct from accounts-verified grants).

Public profiles (found on the charity’s own website): facebook · instagram

Trustees · trustee networks

Trustee list from the Charity Commission register (current, not historical).

Operates in: Oxfordshire

Income and spending

Financial year endIncomeSpending
31/07/2025£65k£442k
31/07/2024£83k£405k
31/07/2023£186k£363k
31/07/2022£60k£404k
31/07/2021£15k£362k

Common questions

Is THE MICHAEL COHEN TRUST financially healthy?

Per its FY2025 accounts: The accounts state that the Trust reported a net movement in funds of £228,387 for the year ended 31 July 2025, driven by investment gains. The Trust holds total funds of £9,367,431, with a general reserve of £39,080 which the Trustees consider sufficient to meet two years of overhead expenditure. The Trust does not actively fundraise and employs no staff. Its FY2025 accounts were audited by Moore Kingston Smith LLP.