THE MASTER CHARITABLE TRUST
Financial health, per its FY2025 accounts
The accounts state that the Charity holds unrestricted funds totaling £410.1m, comprising a General Endowment Fund of £0.7m and Expendable Endowment of £409.4m. The Trustee reports adequate resources to continue in operational existence for the foreseeable future, supported by the flexibility to draw down on the expendable endowment fund if required to support grant expenditure.
What the accounts disclose
“According to the Charity Commission's guidance update in their 'Statement of Recommended Practice: Accounting and Reporting by Charities' revised in July 2014, the Charity's expendable endowment is not considered part of the Charity's free reserves. However, this endowment is a considerable sum, and the capital can be used at the discretion of the Trustee to fund any deficit on expenditure. MCT aims to ensure there are sufficient liquid assets available in each Giving Fund to cover short and medium term disbursements.” — page 6
“For the year ended 30 September 2025, the Trustee charged £1.02m (2024: £0.44m) for their administrative fees in accordance with the power given to them by virtue of clause 28.3 of the Declaration of Trust. In addition, £0.01m (2024: £0.01m) was paid towards Trustee's due diligence fees. No out of pocket expenses were reimbursed by the Charity.” — page 20
“A S Hoare, a director of the Trustee, is also the Chair of the Board of Directors of Snowball Impact Management Limited. At the year-end the Trust had an investment in Snowball Impact Investments LP worth £6.76m (2024: £8.10m).” — page 19
Structured financials (annual return, FY ending 30/09/2025)
Register events
- Received assets from another charity (15/07/2025)
- Received assets from another charity (18/06/2025)
- Received assets from another charity (24/04/2025)
- Received assets from another charity (01/05/2024)
- Received assets from another charity (17/04/2023)
- Received assets from another charity (06/04/2022)
Trustees
- HOARES TRUSTEES LIMITED
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/09/2025 | £155.3m | £174.5m |
| 30/09/2024 | £107.9m | £86.5m |
| 30/09/2023 | £113.7m | £75.6m |
| 30/09/2022 | £46.0m | £47.2m |
| 30/09/2021 | £58.8m | £59.0m |
Common questions
Is THE MASTER CHARITABLE TRUST financially healthy?
The accounts state that the Charity holds unrestricted funds totaling £410.1m, comprising a General Endowment Fund of £0.7m and Expendable Endowment of £409.4m. The Trustee reports adequate resources to continue in operational existence for the foreseeable future, supported by the flexibility to draw down on the expendable endowment fund if required to support grant expenditure. Its FY2025 accounts were audited by Moore Kingston Smith LLP.
Who funds THE MASTER CHARITABLE TRUST?
Funders whose own accounts filings name THE MASTER CHARITABLE TRUST as a grant recipient include THE MACDONALD-BUCHANAN CHARITABLE TRUST.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE MACDONALD-BUCHANAN CHARITABLE TRUST | FY2025 | £25k |