Allan and Nesta Ferguson Charitable Settlement


The charitable trust is governed by the trust deed dated 19 December 1977. The objects of the trust are widely charitable, though the trustees have determined to utilise the income and capital of the trust fund towards the relief of poverty and supporting education, by concentrating on the following purposes: The support of education including educational projects encompassing world peace; Overseas development; The support of education for overseas post graduate students.

Professional Advisers

Auditors Price Bailey
Legal Advisers Stanley Tee


Mr David John Banister, Mrs E Banister, Ms Anne Lesley Roff, Mr James Richard Tee (Correspondent)

Investment Policy

The trust deed authorises the trustees to make and hold investments as if they were absolute beneficial owners. The trustees have adopted a total return approach to the investments of the trust. The trustees holding of Informa plc continues to be reduced over time contributing to the cash proportion of the portfolio that is used to fund donations. Advice regarding the investment profile of the other shares and securities is provided by Taylor Young Investment Management. The funds are invested with a medium term view of 5-10 years and are benchmarked against the FTSE All-Share Total Return Index. There are no geographical constraints on the investments but the trustees have given certain ethical constraints to Taylor Young in particular that there are no direct investments in companies involved in the Arms Trade. Funds under the control of the Trustees have been invested in a broker-managed portfolio. The initial assets of the trust were shares in Taylor & Francis Limited and a proportion of investment remains in that company, which has since floated on the London Stock Exchange and has subsequently been merged to form Informa PIc. The trustees will continue to diversify the portfolio as the opportunity arises.

Grant Policy

The Trustees review on a monthly basis applications to the trust, as well as meeting twice a year to discuss non-routine applications. The Trustees would not normally expect to fund more than 50% of any project and are specifically looking at projects with significant co-funding. The Trustees invite applications in respect of the Charity's categories, which should be made in writing to the correspondent Trustee. The Trustees make grants to universities who then select post graduate students to receive a grant for their final year of study. A small number of grants are still made to PhD, DPhil and MPhil students from overseas to help with their fees for the final year of their studies.


The charitable trust is governed by the trust deed dated 19 December 1977. The objects of the trust are widely charitable, though the trustees have determined to utilise the income and capital of the trust fund towards the relief of poverty and supporting education. The Trust is managed by the trustees, who have delegated day to day administration to Stanley Tee LLP, solicitors, of High Street, Bishop’s Stortford, Hertfordshire. The Trustees have appointed Price Bailey LLP of Causeway House, 1 Dane Street, Bishop’s Stortford, Hertfordshire as auditors. The trustees receive investment advice on a portfolio review basis from Taylor Young Investment Management Limited of 4 Brewery Square, Off Gainsford Street, Butlers Wharf, London. The Trustees have a bank account with The Royal Bank of Scotland at 62/63 Threadneedle Street, London.


The trustees’ policy is to distribute all of the annual income from the trust fund. However, it is not always possible to identify suitable causes or projects to support. Therefore, at the end of any accounting period there may be an undistributed balance of funds to carry forward. These reserves are not held for any particular purpose but will be distributed as and when appropriate individuals and organisations are identified.

Future Commitments

The Trustees will continue to make grants to suitable causes or projects to support until they have invested all of the funds at their disposal.

General Review

During the year to 31 December 2010 the trustees awarded grants totalling £2,977,936 to various individuals and organisations. This respresented 380% of the incoming revenue generated from the assets. The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising any powers or duties to which the guidance is relevant.

High Street
Bishops Stortford
CM23 2LU

Tel: 01279 755200

CC number: 275487

Performance Guide Rankings

investment assets 405 / 1000
investment income 408 / 995
return on investments 573 / 995
investment management costs 587 / 743
inv mgmt costs as % of inv assets 620 / 743

inv mgmt costs as % of inv income 608 / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments 191 / 661
income from short-term investments 340 / 726
listed investment inc as % of inv income 224 / 661
short-term investment assets 393 / 988

legacy income - / 226
grants received - / 88
total voluntary income - / 628

grants made 127 / 668
charitable expenditure - / 638
charitable expenditure as % of total expenditure - / 335
support costs 150 / 230
management & administration fees 586 / 970
audit fee per £m of income 348 / 949

total incoming resources 721 / 1000
total resources expended 441 / 1000
total assets 477 / 1000
period ending 2009 2010
legacies - -
grants - -
other voluntary income 0.01 -
total voluntary income 0.01 -
activities, furtherance of charities objects - -
activities for generating funds - -
trading subsidiaries - -
sales and fees from operating activities - -
investment property - -
dividends - -
total listed investments 0.71 0.79
income from subsidiaries - -
interest on cash & short term inv 0.01 0.01
total investment income 0.73 0.80

fundraising costs - -
investment management costs 0.02 0.03
Investment costs 0.02 0.03
other costs 0.00 -
cost of generating funds 0.02 0.03
grants paid 3.69 2.98
support costs - HR and finance 0.06 0.07
management and admin 0.03 0.03
total charitable expenditure 3.78 3.08

ASSETS £m £m
intangible assets - -
tangible fixed - -
equities - -
bonds - -
listed investments 26.02 27.26
investment portfolio cash & settlements 1.31 1.13
investment assets 27.33 28.39
other fixed assets - -
total fixed assets 27.33 28.39
stock - -
debtors 0.01 -
cash 0.03 0.02
short-term investments 1.21 1.50
current assets 1.25 1.52
bank loans & overdrafts - -
trade & other creditors, accruals 1.21 1.11
creditors falling due within one year 1.21 1.11
net current assets 0.04 0.41
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year 1.19 0.34
provisions for liabilities and charges - -
TOTAL ASSETS 26.17 28.46

ASSETS £m £m
income funds 26.17 28.46
endowment funds - -
restricted funds - -
TOTAL FUNDS 26.17 28.46