| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 |
| FOR |
| THE MATTHEW LUDLAM FOUNDATION |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 |
| FOR |
| THE MATTHEW LUDLAM FOUNDATION |
| THE MATTHEW LUDLAM FOUNDATION |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2026. 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objectives of the charity are to advance such charitable purposes for the public benefit (according to the law of England and Wales) as the Trustees may see fit, in particular (though not limited to): |
| (a) the advancement of education, citizenship, the arts, culture, heritage, science, amateur sport, and environmental protection or improvement. |
| (b) the prevention or relief of poverty. |
| (c) the relief of those in need by reason of age, youth, ill-health, disability, financial hardship or another disadvantage. |
| Significant activities |
| The Matthew Ludlam Scholarships are grants awarded to the best and brightest students, as identified by The University of Manchester, to enable them to access a world class education regardless of their financial situation or social background. |
| Public benefit |
| The trustees meet regularly to plan the charity's activities for the year. The charity has made a significant public benefit by supporting disadvantaged students at The University of Manchester in accordance with the charity's objectives. |
| The trustees have given due regard to the guidance on public benefit published by the Charity Commission. |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| ACHIEVEMENTS AND PERFORMANCE |
| Charitable activities |
| The Matthew Ludlam Foundation is a charity registered with the Charity Commission of England and Wales which was set up by family and friends of Matthew Ludlam who died in June 2015 aged 33. Matthew was an accomplished town who was awarded a First-Class Honours degree by the University of Manchester; the Heywood Medal for graduating with the highest overall average marks and the RTPI (Northwest) Moss Madden Award for the best final year project work by an undergraduate student in the Northwest Planning Schools. He became a member of the RTPI in 2014. |
| The Trustees of the Foundation set out to create a lasting legacy for Matthew, having regard to his passion about urban planning and regeneration and social justice. A long-term funding source has been established which enables support for various Scholarships, grants and awards in Matthew’s name. The major element of this has been supporting students at the University of Manchester in the Planning School and latterly more widely throughout the University to students who have been in the care system. |
| The funds are allocated annually on a flexible basis to enable adaptation to changed circumstances and availability of suitable recipients. The funds are administered by the University Division of Development and Alumni Relations, in consultation with the Trustees. |
| Initially, individual scholarships were awarded to 3 qualifying students at the School of Planning for the duration of their undergraduate course. They were required to meet the criteria of the Widening Participation Programme which aims to encourage and enable participation of higher education for students being disadvantaged by low family income or other barriers. However, the effects of Covid in the education system adversely impacted some of the students and it became apparent that different types of awards would have a greater overall impact. |
| In 2022, following negotiations with the University, the Foundation provided Bursaries to a total of 13 Undergraduate Students, in the School of Planning, who qualified under the Widening Participation Programme. |
| In 2023, a full scholarship was awarded to Jokotola Adenuga who initially intended to study Town Planning at the University of Manchester, but following exceptional A-level results was able to take-up a place at UCL. |
| In 2024 the scheme was broadened to establish a Grant Fund available to any students who had been in the care system and required funds to meet emergency expenses. |
| Our sponsored student, from Edgeley, has continued her studies at University College London, she is producing excellent results and is halfway through her third year of her degree. During her holidays she has been employed by Stockport Council Planning Department and Manchester City Council Planning and Regeneration Departments gaining valuable experience for her future.We will continue to provide funding for her studies. |
| The annual review of donations to The Friends of Marie Louise Gardens concluded that this funding is worthwhile for public amenity and will continue. |
| Funding applications have been received from various individuals and charities, during the past 12 months, but have not met the funding criteria of the Foundation. |
| At the AGM of 2 February 2026 it was reported that the Widening participation programme seems to be not now suitable due to lack of students in the school of planning and that it is difficult to identify suitable students at other universities, since COVID shutdown. It was resolved to suspend the funding for Manchester University. |
| Fundraising activities |
| The charity has received donations from private individuals amounting to £385 in the year to January 2025. Donations are raised from a network of contacts and no fundraising events were held in the year. |
| The Matthew Ludlam Foundation's approach to fundraising and donations will not change in the forthcoming year. The objectives remain the same as stated in the Articles of Association dated 26th January 2016. |
| Valuable vintage vehicles valued at £70,000 and a Mitsubishi L200 valued at £16,000 were gifted to the charity by a trustee. The value of these will be redeemed upon the contributors death or earlier following discussion with the contributor. |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| FINANCIAL REVIEW |
| Financial position |
| The material investments of the charity have been held in a residential property at 5 Parkfield Road South in the high-value residential area of West Didsbury. Property prices in the area have increased historically over a long period of time and have seen a considerable rise in the last few years.The property is revalued annually by independent estate agents. |
| The charity purchased the property in November 2016 using a loan from Ms K Lowe (a trustee of the charity). The charity paid the interest on this loan.The total loan of £356,941 was repaid to Ms K Lowe following the sale of The Poppet House. |
| The rental income from this property provides a steady income stream for the charity together with further private donations from individuals and companies from time to time. |
| Reserves policy |
| Variable reserves are held which are built up on an annual basis to fund the scholarships/bursaries which are awarded at the start of each academic term. The charity also distributes funds to the wider community in line with its aims and objectives. |
| At 31 January 2025 the charity had liquid reserves of £68,009 (2024: £73,109). This represents 2.5 years general expenditure. The trustees do not consider this unreasonable as maintaining the property to a high standard lead to unpredictable costs. |
| Going concern |
| The trustees believe there are no uncertainties about the charity as a going concern and so have prepared the accounts on the going concern basis. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Independent Examiner |
| Mr Adam J. Syddall M.A., F.C.A. |
| P B Syddall & Co |
| Chartered Accountants |
| Grafton House |
| 81 Chorley Old Road |
| Bolton |
| Lancashire |
| BL1 3AJ |
| EVENTS SINCE THE END OF THE YEAR |
| Information relating to events since the end of the year is given in the notes to the financial statements. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| THE MATTHEW LUDLAM FOUNDATION |
| Independent examiner's report to the trustees of The Matthew Ludlam Foundation ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2026. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
| I 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. |
| Mr Adam J. Syddall M.A., F.C.A. |
| The Institute of Chartered Accountants in England and Wales |
| P B Syddall & Co |
| Chartered Accountants |
| Grafton House |
| 81 Chorley Old Road |
| Bolton |
| Lancashire |
| BL1 3AJ |
| 21 October 2026 |
| THE MATTHEW LUDLAM FOUNDATION |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 2026 | 2025 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 1,244,141 |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| BALANCE SHEET |
| 31 JANUARY 2026 |
| 2026 | 2025 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| Heritage assets | 7 |
| Investment property | 8 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 1,244,141 |
| TOTAL FUNDS | 1,244,141 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| THE MATTHEW LUDLAM FOUNDATION (REGISTERED NUMBER: 09971407) |
| BALANCE SHEET - continued |
| 31 JANUARY 2026 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 1. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| 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 to 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. |
| TANGIBLE FIXED ASSETS |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Motor vehicles | - |
| INVESTMENT PROPERTY |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. |
| TAXATION |
| The charity is exempt from corporation tax on its charitable activities. |
| FUND ACCOUNTING |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 2. | INVESTMENT INCOME |
| 2026 | 2025 |
| £ | £ |
| Rents received |
| 3. | RAISING FUNDS |
| RAISING DONATIONS AND LEGACIES |
| 2026 | 2025 |
| £ | £ |
| Rent, rates and insurance |
| Repairs and maintenance |
| Light and heat |
| Service charge |
| Support costs |
| 13,014 | 13,006 |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2026 | 2025 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 January 2026 nor for the year ended 31 January 2025. |
| TRUSTEES' EXPENSES |
| There were no trustees' expenses paid for the year ended 31 January 2026 nor for the year ended 31 January 2025. |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 6. | TANGIBLE FIXED ASSETS |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 February 2025 and 31 January 2026 |
| DEPRECIATION |
| At 1 February 2025 |
| Charge for year |
| At 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| 7. | HERITAGE ASSETS |
| Total |
| £ |
| MARKET VALUE |
| At 1 February 2025 and 31 January 2026 | 70,000 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| 8. | INVESTMENT PROPERTY |
| £ |
| FAIR VALUE |
| At 1 February 2025 |
| and 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 8. | INVESTMENT PROPERTY - continued |
| Fair value at 31 January 2026 is represented by: |
| £ |
| Valuation in 2021 | 402,626 |
| Valuation in 2022 | 400,000 |
| Valuation in 2023 | 297,374 |
| 1,100,000 |
| ** | TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF |
| INVESTMENT PROPERTY |
| 'COST' ACCOUNT TOTAL |
| Cost/valuation b/f | 1,100,000 |
| 1,100,000 |
| CLIENT SCREEN TOTAL | = | - |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Deposit held |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.2.25 | in funds | 31.1.26 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,244,141 | (4,365 | ) | 1,239,776 |
| TOTAL FUNDS | (4,365 | ) | 1,239,776 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 18,600 | (22,965 | ) | (4,365 | ) |
| TOTAL FUNDS | ( |
) | (4,365 | ) |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.2.24 | in funds | 31.1.25 |
| £ | £ | £ |
| Unrestricted fund | 1,251,979 | (7,838 | ) | 1,244,141 |
| TOTAL FUNDS | 1,251,979 | (7,838 | ) | 1,244,141 |
| Comparative net movement in funds included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted fund | 18,986 | (26,824 | ) | (7,838 | ) |
| TOTAL FUNDS | 18,986 | (26,824 | ) | (7,838 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.2.24 | in funds | 31.1.26 |
| £ | £ | £ |
| Unrestricted fund | 1,251,979 | (12,203 | ) | 1,239,776 |
| TOTAL FUNDS | 1,251,979 | (12,203 | ) | 1,239,776 |
| Net movement in funds included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted fund | 37,586 | (49,789 | ) | (12,203 | ) |
| TOTAL FUNDS | 37,586 | (49,789 | ) | (12,203 | ) |
| THE MATTHEW LUDLAM FOUNDATION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2026 |
| 11. | RELATED PARTY DISCLOSURES |
| The charity received rents in the year from Mr R Mawdsley (a trustee of the charity) of £1,550 per month. This is regarded by the trustees as a market rent carrying no undue benefit. |
| 12. | POST BALANCE SHEET EVENTS |
| The property was marketed for sale on 14th August for an asking price of £999,950 and is currently sold subject to contract at that price. |