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					                                                   Registered Charity No: 1117094




                        THE PAMELA MATTHEWS CHARITABLE TRUST




                            TRUSTEES' REPORT AND ACCOUNTS
                          FOR THE YEAR ENDED 31 DECEMBER 2007




             Contents                                        Page

             Trustees' Report                                1 '3
             Independent Examiner's Report                       4
             Statement of Financial Accounts                     5
             Balance Sheet                                       6
             Notes to Financial Statements                     7-9




                                                                     Bircham Dyson Bell LLP
                                                                     50' Broadway
                                                                     London
                                                                     SW1H OBL

                                                                     Tel +44 (0)20 227 000

                                                                     Fax +44 (0)20 7222 3480
                                                                     DX 2317 Victoria
      Bircham Dyson Bell                                             www.bdb-law.co.uk

5694284.02
            THE PAMELA MATTHEWS CHARITABLE TRUST (the `Trust')
    REPORT OF THE TRUSTEES OF THE PAMELA MATTHEWS CHARITABLE
                               TRUST
           PERIOD FROM 13 OCTOBER 2006 TO 31 DECEMBER.2007



1            Details of the Trust

             (a)     Date:          Established by deed dated 13 October 2006 (the `Trust Deed')

             (b)     Charity No.: 1117094

             (c)     Trustees :     Ian Hammond McCulloch

                                    Penelope Jane Chapman

2            Terms of the Trust and Appointment of Trustees

             The Trustees shall hold the income and capital of the Trust Fund to apply the income
             and all of such part.or parts of the capital in accordance with the charitable objects as
             the. Trustees may in their discretion

             The Trust Deed states that the Trustees in their discretion, instead of applying the
             income of the Charity in any year, accumulate all or any part of the income. Any
             accumulations may be applied in subsequent years as though it was the income of that
             year.

             A Trustee or. Trustees may be appointed or discharged at any time by resolution of a
             meeting of the Trustees provided that a memorandum declaring such appointment or
             discharge is signed as a Deed, either at the meeting by the person presiding or in some
             other manner directed by the meeting and arranged by two other persons present at the
             meeting. There must be no more than four Trustees at any time.

3            Principal activity

             In general terms, the Trust aims to support the following charitable areas:-

             (a)     the preservation and conservation of buildings in the United Kingdom;

             (b)     the preservation of the environment;

             (c)     the relief-of suffering for animals;

             (d)     the advancement and promotion of education.

4            Format of the accounts

             The accounts have been prepared in accordance with the Statement of Recommended
             Practice - Accounting and Reporting by Charities (SORP 2005).



5694284.02                                            1
5            Review of financial activities

             Incoming resources

             Total incoming resources were £49,794. This income comprised additions to the trust
             and gross interest.

             Charitable grants

             Charitable grants of £15,605 were made with support costs of £13,784 during the
             period.

             Other expenditure

             Governance costs of £9,512 were expended during the period.

6            Review of organisation

             Funding policy

             To support charities registered with the Charity Commission for England and Wales
             which fall within one of the four previously described classifications of charitable
             activity.

             Where proposed recipients are not registered charities, to undertake a thorough
             examination of the organisation to ensure the purpose of the grant is properly
             considered to be charitable and that there are means of ensuring, so far as reasonably
             practicable, that any grant made to the.organisation shall be. properly applied to such
             charitable purpose or repaid to the Trustees. Advice will be sought, as necessary,
             from the Trust's lawyers as to the eligibility of such proposed recipient.

             Investment policy

             The Trust Deed gives the Trustees very wide powers of investment.

             Reserves policy

             The Trustees have established a Reserves Policy with reference to Charity
             Commission guidance (CC19) and accounting standards (SORP 2005). Cash flow is
             carefully monitored to match income receipts with operating expenditure. Subject to
             this, the Trustees aim to apply all income to direct charitable purposes and do not feel
             that reserves are necessary. The Trustees may, at their discretion, instead of applying
             the income of the charity in any year, accumulate all or part of it as if it were an
             accretion to capital.

             Risk management

             The Trustees have considered the main areas of risk and are of the opinion that the
             Trust has the resources and systems which should, under normal conditions,
             adequately meet such risks.



5694284.02                                        . 2
       7             Administration details

                     Principal Office:                50 Broadway
                                                      Westminster
                                                      London
                                                      SW1H OBL

                     Solicitors:                      Bircham Dyson Bell LLP
                                                      50 Broadway
                                                      Westminster
                                                      London
                                                      SW1H OBL

                     Independent Examiner:            Jane Lawrence
                                                      Lawrences
                                                      54 Cuckoo Hill Drive
                                                      Pinner
                                                      Middlesex
                                                      HA5 3PJ

       Trustees' responsibility

       Charity law requires the trustees to prepare financial statements for each financial year which
       show a true and fair view of the state of affairs of the charity and its financial activities for
       that period. In preparing those financial statements, the trustees are required to:

                • select suitable accounting policies and then apply them consistently;

                • make judgements and estimates that are reasonable and prudent;

                • state whether applicable accounting standards and statements of recommended
                    practice have been followed; subject to any 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 operational existence.

       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 1993. 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.

                     Approved          ' geed on behalf of the Trustees

                     ....................    ...........




  Dated .............^
....                                        ^.^. ^..

        5694284.02                                             3
  INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE
                    PAMELA MATTHEWS CHARITABLE TRUST

 I report on the accounts of the Trust for the period. 13 October 2006 to 31 December 2007, which are
 set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees
consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the
1993 Act) and that an independent examination is needed.
It is my responsibility to:
       • examine the accounts (under section 43(3)(a) of the 1993 Act);
       • to follow the procedures laid down in the General Directions given by the Charity
           Commissioners (under section 43(7)(b) of the 1993 Act); and
       • to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity
Commissioners. 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 I do not express an audit opinion on the view given by the accounts..
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
       • to keep accounting records in accordance with section 41 of the 1993 Act; and
       • to prepare accounts which accord with the accounting records and to comply with the
           accounting requirements of the 1993 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of
    the acWunts to be reached.




Jane Lawrence ACIB, TEP, FCIE

Associate of the Chartered Institute of Bankers; Registered Trusts and Estates Practitioner; Fellow of
the Association of Charity Independent Examiners.
54 Cuckoo Hill Drive
Pinner
Middlesex HA5 3PJ


Date: --)                  fib.                j



5712613.01                                          Ll,
                           PAMELA MATTHEWS CHARITABLE TRUST

                                 STATEMENT OF FINANCIAL ACTIVITIES
                            for the period 13th October 2006 to 31st December 2007


                                                                  Notes      Unrestricted
                                                                             Income Fund
Incoming Resources


Voluntary income                                                      2              49,766

Deposit interest                                                      3                 28

Total incoming resources                                                             49,794



Resources Expended

Charitable activities:
   Grantmaking and support costs                                      4              29,389


Governance                                                            5               9,512


Total resources expended                                                             38,901


Net incoming resources                                                               10,893



Net movement in funds
Balances carried forward at 31st December 2007                                       10,893




The notes on pages 7 to 9 form part of the financial statements




    5689101 1.XLS
                           PAMELA MATTHEWS CHARITABLE TRUST

                                                    BALANCESHEET
                                                 as at 31st December 2007


                                                                   Notes             2007




Current Assets
Cash at bank                                                           7             1,029

Creditors
Reclaimable tax                                                        2            10,214

Creditors
Amount falling due within one year                                     8             (350)

Total Net Assets                                                                    10,893




Funds
Unrestricted Income Fund                                                            10,893

                                                                                    10,893



The notes on pages-7 to 9 form part of the financial statements.




    Approved and signed on behalf of the Trustees by:


                                                                            Date:




    5689101 1.XLS                                                  6
                         PAMELA MATTHEWS CHARITABLE TRUST

                                Notes forming part of the financial statements
                          for the Period 13th October 2006 to 31st December 2007


1 ACCOUNTING POLICIES

 Accounting convention
 These accounts have been.prepared under the historical cost convention with the exception that investments are
 valued at market value. The accounts are in accordance with applicable accounting standards, the Charities
 SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports)
 under the Charities Act 1993.

 Funds
 The Unrestricted Income Fund comprise those funds which the trustees are free-to use in accordance with the
 charitable objects.

 Income and Expenses
 Income and expenses are stated gross and are accounted for on an accruals basis. Administration costs are divided
  between charitable support costs and governance costs on a 25:75 ratio.

 Grants
 Grant payments are accounted for on an accruals basis.




2 VOLUNTARY INCOME                                                                                                     2007

 Pamela Matthews' estate (Unrestricted Income Fund)

 Cash transfers took place on the following dates
        13th October 2006                                                                                              4;013
        15th November 2006                                                                                             1,000
        19th March 2007                                                                                                3,120
        25th April 2007                                                                                                  911
        25th March 2007                                                                                                  300
        12th September 2007                                                                                           3,868
        Transfer to provide for Shipping costs and insurance of Books                                                -10,735

 Sub total - brought forward from last page                                                                          23,947


 Chattels from Pamela Matthews' estate (Unrestricted Income Fund)                                                    15,605
 Reclaimable income tax on these distributions                                                                       10,214

 Total transferred from estate                                                                                       49,766

 N.B. Further sums are expected to be transferred from the estate. At this stage it is difficult to determine
 the exact value, although the expected sum is in the region of £4,000,000.




 5689101 1.XL5
                        PAMELA MATTHEWS CHARITABLE TRUST

                                Notes forming part of the financial statements
                          for the Period 13th October 2006 to 31st December 2007


3 DEPOSIT INTEREST                                                                            2007



 Bircham Dyson Bell - paid gross                                                                28

                                                                                                28




4 GRANTMAKING AND SUPPORT COSTS                                                     2007     2007
                                                                                        £        £
 Grants
 One grant was made in the period covered by these accounts.
 The deceased's books at Cavendish Hall were distributed to the
 Redwood Library in the US at probate value                                                 15,605.

 Support Costs
 The Trust supports general charitable objectives as outlined in the
 Trustees Report. In accordance with SORP 2005 grantmaking
 should include the cost of grants and associated support costs
  these are as follows:

 Bircham Dyson Bell - Administration fees (25% of the total of L12,195)             3,049
 Shipping costs and insurance re Chattels                                          10,735   13,784

 Total of grants and support costs                                                          29,389




5GOVERNANCE


 Bircham Dyson Bell - Administration fees (75% of the total of £ 12,195)                     9,146
 Trustees expense - fares                                                                       16
 Independent examination fees                                                                  350

                                                                                             9,512




6 TRUSTEES' DEALINGS AND OTHER INTERESTED PARTIES

 Bircham Dyson Bell is paid for administering the Trust.
 The Trustees received no personal remuneration during the period
 under review.


 5689101 1.XLS
                      PAMELA MATTHEWS CHARITABLE TRUST

                             Notes forming part of the financial statements
                       for the Period 13th October 2006 to 31st December 2007


7 CASH AT BANK                                                                  2007



 Bircham Dyson Bell                                                             1,029

                                                                                1,029




S CREDITORS                                                                     2007



 Lawrences - independent examination fees                                        350

                                                                                 350




 5669101 ,.XIS                                     9

				
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