THE PLYMoirrH ASTOR TRUST (VHS)
(Fonnerly Virginia House Settlement)
A Company Limited by Guarantse
Company Registration No. 02535755
Charity No. 1000972
REPORT AND FINANCIAL STATEMENTS
31 March 2024

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT AND FINANCIAL STAIEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
CONfENTS
Page
Legal and ad￿luistrative information
Report of the trustees
Independent Examiner's Report
Statement of financial activities
Balance sheet
io
Notes forming part of the financial statements
11118

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT AND FINANCIAL STATENtENTS 2024
LEGAL IIND ADMtNISTRATtVE INFORMATION
Dlrectors
P.R. Sanders (Chairnian)
D.E. Buckingbam
A. Butler
A.P. Gilbert
M.A.G. Hoole
M. Potts
C. Robillson
B.G. Warne
Honorary President
Alice Astor
Registered Offlce
clo Bromhead Chartered Accountallts
Harscombe House
l Darklake View
Plymouth
PL6 7TL
Bankers
Solicitors
Lloyds TSB Bark Plc.
8 Royal Parade
Plymouth
PLI IHB
GA Solicitors
Gill Akaster House
25 Lockyer Street
Plymouth
PLI 2QW
Investment Managers
Ae¢ountants
RBC Brewin Dolphin
Brewin Dolphin LinJit¢d
11-15 Dix's Field
Exeter
EXI IQA
Northcott Trun)field
Chartered Accountants
Devonshire Villa
52 Stuart Road
Stoke
Plymouth
PL3 4EE
Barclays Wealth
14 Clyde Place Lane
Glasgow
G5 8DP

PLYMOUTH ASTOR TRUST (VHS)
REPORT OF THE TRUSTEES
The Trustees, who are also the directors of the charity for the purposes of the ConLpanies ACL submit their annuAI report and the
financial statements for the year ended 31 March 2024. The Trnstees have adopted the provisions of the Statetrlent of Re¢oll)mended
Practice (SORP) 'Accounting alld R¢porttng by Charities" (FRS 102) (second edition- October 2019) inpreparing the aDnual report
and financial statenlents of the cjwity.
Reference and administrative details of the charity. its T￿￿tee$, and advisers
The Pl)qnouth Astor Trnst (VHS) (abbreviated PAD is a ¢ompany ]imited by guarantee (No. 02535755)
incorporated in England and Wales and is a Tegistered charity (Reg. No. 1000972). The directors of the cFLaTitable
¢ompany are its Trustees for the purposes of charitable law. The company was fornierly known as virgin￿ House
Settlement.
The Board are elected from the membership andusers of PAT. All Are appointed on a three year rotation basis.
The Board of Trustees Ilas ¢onLplete responsibility for illLplementAng our aims and objectives tbrougb the
continuous development of policy alld strategy. Meetings are held regularly to perforni these fi￿CtiOnS
and monitor progress.
To assist the Board to perform its duties there may be, from time to time, tssk groups that are advisory in
nature and report to tbe Board.
The following served as Board Members during the year:
Phil Sanders (Chair), DavidBuckingbam, Anthony GilberL Alexis Butler, MarinaHoole, ChTiS Robinso
Bethany Warne and Meghan Potts.
An office manager is retained part-time, supported by the Tn￿e5.
membe￿Ip of PAT is open to individuals and organAsations who support our Aijns and Objectives. Each
memb&s liabi]ity is ]iMIt￿ in the event of the company winding up, to all aujount not exceeding £1.
Structure? governance and management
The following statement should be read together with the independent exatninerfs report on Page 7 of these
accounts. This statement is made with a view to distinguishing the respective responsibilities of the Board and the
Independent Examiner in relatii)ll to the accounts, as required by thc Companies Act 2006.
The Board are required by the Companxes Act 2006 to prepare accounts for each financial year which give a trne
and fair view of the situation of PAT as at the end of the fillancial year, 31 Marcty and of the income and
expenditure for that year.
In prep￿g the accounts, the Board are required to:
s¢le¢t suitable accounting polk¢i¢s and appty them consistentty.
observe the methods and principles of the SORP (FRS 102) (s¢cond edition- October 2019).
makeiudgemellts and estimates that are reasi)llable and prndent.
state whether appli¢8bl¢ accounting standards have been followe(L subject to aELy ll￿terial departures
disclosed and explained in the accounts.
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will
continue ill operntion.

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT OF THE TRUSTEES
The Board has responsibility for ensurin8 that PAT keeps proper a¢couuting records which disclose, with
reasonable accuracy, the financial position of the organisation at any time and which enable them to ensure that
the accounts comply with the provision of the Compauxes Act 2006.
The Board has a general responsibility for safeguarding the &8sets of PAT alld for tsking reasonable steps for the
prevention and detection of fraud and any other irregularities.
The majorrisks to which the Charity is exposed cotLtinue to be addressed. One of these risks is the age and gendeT
proffle of the existillg Bo3￿. This h&$ been addressed in recentyears with Ihe app0]ll1￿ent of Alexis Butler, Marilla
Hoole (nee Leadbetter) Bethany Warne and Megkn Potts as Tn]stees. Also, the real value of PAT'S Brewin
Dolphin Portfolio ¢i)mpared to a b&8eline is reviewed when deten))inAug the amount of grants to be awarded to
Charities and CotnmuDity Interest Group. Dividends earned from the Barclays Charity Fund are CUErently used to
fimds bursaries for sthdents studying early years eth￿ation at University ofPlymouth. A Risk Register maintained
to ensur¢ there are no confiicts of interest. Finally, PAT'S a￿oUnts are subject to indepelld¢nt examination.
We seek TnLStees who have good business skills and come from, and have experience o[ the voluntary, public,
and voluntary and coJ]Imunity sectors. In addition, we are keen to appoint younger Trnstees who may bring freth
ideas and other skills such as public relations and so¢ial medi
TrL￿teeS are made aware of their responsil)ilRties and provided with background inforniation on PAT including the
rules and objectives, annual accounts, And strategy documentstiotL
Objectives and a¢tivlties
Our MemorandullL and Articles of Association state that PAT is:
..established for all or anYpU￿0ses forthe benefit of the inhabitants of the Sutton Ward ofPlymouth inparticular
and the City of Plymouth in general which is now or hereafter may be deemed by law to be rharitable and in
particular the r¢li¢f of povety, distress and sicklless, the fiwtberdnce of health and the advallcemellt of education
and the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the
objects of improving the conditiong of life for the said inhabitAnts and generally to do all such lavrfla acts and
things as are incidental and conducive to the attainment of these objects..
In the developmellt of PAT to meet this object we work to the following aims and obj￿tiVeS.
To enhance the well-being of conllnunities and people in the City of Plymouth in general and the Borough of
Sutton by the provision of services and facilities to promote social justice, welfare, and education in the areas of
atest need.
ObjeclTVa¥
To develop illitiatives and services &s approprnte in response to identifiedne¢d, whereverpossible ill Co-operation
with other agencies and local organisations.
To encourage and support the development of volulltary organisations, their Tn￿tee% staff, and volunteers.
To engage in and pri)mote go￿ ¢on)munity developmellt Pfdctice.
The TnJstees have Considered the legal r¢quirements that the ¢harity is of pthlic benefit atLd are satisfied that the
cPLarity does meet the criteria required.

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT OF THE TRUSTEES
Main achievements
The Plymouth Astor Trust (VHS) has provided generous financial support for S￿dents relating to their interests in
the care and education ofyoung children (IU years). Previously. bursaries wereprovided bythe Nancy Langhorne
Astor Scholarships Tn￿t (NLAST). NLAST has been closed and resources in the forni of the B2r¢lays Charity
Fund Portfolio and 2sso¢iated dividends amounting to £169,916 transferred to the Plymouth Astor Tn￿t (VHS).
In 2023-2024 bursaries are being funded fri)m dividen(L8 earned from the Barclays Charity Fund Portfolio. £6.275
has been transferred to University of Plymouth who pay the bursaries to students. A total of ￿e1ve students have
beell awarded bursaries.
Income was genernted from inveslments and propety rental. DivAdends received frow our Brewin Dolphin
inveslment portfolio now exceed post pandemic levels. Dividends of £19.476 were received in 2023-2024
compared to £17,008 in 2022-2023. Also. post transfer of funds from NLAST £972.10 w&8 re¢¢ived in dividends
from the Barclays Charity Fund investment portfolio.
The Jnvestment Policy Statement relating to PAT'S Brewin Dolphin inves(ments has been updated to include a
gambliug investment restriction and update the risk level to refftct the Board's wish to go lthay between risk
le￿1$ 6 and 7.
The Register of Interests h&8 been update(L
PAT owned a group of buildings with the collective address of 40 Looe Street {2 Peacock Lane), Plymouth. After
the sale of freehold propety in Julle 2004 a 125 year lease was retained on part of the premises.
"Friends and Families of Special Children" (FFSC) (Reg. No. 1140826), whose objectives are compatsl)le with
PAT, agreed a new 5 year sub-lease which was signed on l May 2019 for the use of 40 Looe Street. Therefore,
this lease is due for renewal on l May 2024. Consequentty, PAT illstructed Stratton Creber Cojnmercial (SCC)
Property Consultants to undertake a rent revi¢w and facilitate lease renewal negotÉations working with GA
Solicitors. PAT has received a r¢pi)rt from SCC. The work conducted by SCC included the followillg elements:
Jnspection of the existing lease, inspection of the propety with a repor( examination of test certificatss,
exomination and comments from tenants 8nd solicitors, reporting gny implications on the change of lease terni and
advising on nwket r¢nt.
As at 31 March 2024 negotiations with FFSC to agree a new lease were ongoing and PAT have no reason to
believe that a new lease will not be agre
"Friellds and Families of Special Children" (FFSC) (Reg. No. 1140826) made alterations to the pri)perty at 40
Looe Street without seekiug the perniissioll of PAT and thus contravening the terms of its lease. A retrospective
licence for the alterations h&8 now been signed off by the Abaeus Land 4 Ltd (freeholder), PAT lessee and FFSC
sub lessee on 29 Feb 2024. All legal fees have been paid by FFSC.
The 10 year le&se of Noah's Ark Nursery for 30 Looe Street expired on 31 Juty 2023 and was not assigned to the
Hadland Care Group in 2019-2020 when they took over the runni￿ of the nursery. The nursery has been renatned
"TOPS." PAT instrncted Stratton Creber Con]mer¢ial (SCC) propety consult2nts to ulldertake a rent review and
facilitate lease renewal negotiations workillg with GA Solicitors. A draft renewal lease incorporating agreed Head
of Ternis has been prepared by GA SolA¢itors but is subject to final approval and sigll off by the parties.

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT OF THE TRUSTEES
Main Achievements (&5 contlnued)
PAT owns 24 Hoe Street ITr Plymouth though "Improving Lives Plymouth (Reg. No. 1066776)" have an interest
in the proceeds should it be sold. This propety is occupied for white rose consideration i.e., rent free under a Ivdse
by the Margaret Mcmillan Nursery (Margaret Mcmillan Limited: Reg. No. 1118357) which is independent
Charity, they have a 99 year lease grant¢d in October 2007. The propety cannot be sold without the permission of
Impmving Lives Plymouth. The proceeds of any sale tnust be split equally betweell PAT and Improving Lives
Plylnouth. Mcmillall are seeking to expand the floor ar¢& on the wund floor and increase capacity. PAT have
requested from tbem a basic drawing showing their proposals. They have also been advised Mcmillall to get a pre-
application view from the Local Authority as it could save them tillke and money. Also, the PAT Board agreed tILat
a propety review should be undertaken at 24 Hoe Street. As a first Stq) the Board agreed that PAT should enquire
as to whether Mcmillan Nursery have had recent surveys inspethions by a qualified surveyor and if so, let PAT
have a copy of their ryort together wkth any test certificates.
At 31 M8Thh 2024, PAT employed one part-time staff member.
PAT was previousty the Trustee for the Astor Playing Field Tn￿t. The only Éticome received by the Trnst was a
£19 per annuul wayleave pa￿llellt. Consequently. with the assistance of GA Solicitors and agreement of the
Charity Conunission the Astor Playing Field T￿￿ bas been dissolved and their fimdg amounting to £269
trallSfe￿d to PAT'S bank account.

THI PLYMoirrH ASTOR TRUST (VHS)
Financial Revlew
The net assets of the charity at the year end are £1,363,562 after a revaluation gain of £70,381 on the investment
portfolio inthe ye8T. The market value of our equity investments at 31 March2024 was £958,871 and this compares
with a base cost of £766298. The investtnent strategy provides income and capital growth to support the trustees,
objectives of helping other local charities with endowments and grants. The board is committed to their stathtory
duty to ensure the orgallisation's future is secure.
PAT now has two investment portfollos. It continues to bold a Brewin Dolphin PO￿0110 and in December 2024
took over ownership frolll NLAST of an investment in the Barclays Chaity Fund. PAT has implemented an
investment strategy in companies which are deemed to opeTate globally an etbical manner. Thig is valid for
these fimds. PAT'S Brewin Dolphin portfolio is equity 2nd fixed income based with smaller holdiugs in propety.
commodities, and cash. Geographically, the emphasis is on American and British equities. The Barclays Charity
Fund is simiIarly a multi asset and geographically diverse holding wtth near to 460/0 invested in equities in
developed markets (USA. UK, and Europe), 180/0 in equities in emerging markets, a 19.50/0 holding in cash 8nd
bonds and 16.50/0 in other assets such as propety and con)modities.
A review of PATS fiDallcial position concluded that inflation had a significant iinpact on the real value of our
Brewin Dolphin Portfolio compared to baseline 2005. Consequentty, the PAT Board decided that they would not
award Charities and Community Interest Companies grants in 2023-2024. Nevertbeless, Trnstees agreed that
dividends received from the Barclays Clwity Fund Portfolio would fulld bursaries to early years students at
University of Ptymouth. £6275 was transferned to University of Plymouth for thls Pur￿>$¢.
The organisation's reserves are spread over three categories. The capital fimd supports one propety held as an
investnlellt and the second propety used by a charity provithng childcare and nursery services. A 99 year le8se
was granted in 2007 for a,￿bIte rose" consideration io respect of the second propety.
The endoivment fun(L fixed at £110,000, is intellded to help secure the fiTture of the ch8rity and is not intended to
be an expondable investment in tern]s of revellue utilisation.
The unrestrirted fund is to provide sufficient income to support the adtninistration of the clwity and provide
sufficient income to meet the trustee's objectives of providing help in the local con)mullity by the granting of
financial assistanc¢ to charities, commuoity organisations and siudents of University of Plymouth.
The funds trall$fe￿ed from NLAST and Astor Playing Field Trnst to PAT are shown as donations in the accounts
as per Charities SORP (FRS 102), Accoulltillg for Charity Combinations section 24.30. It should be lloted tbLt the
Funds received from NLAST are not designated fimds and could be used to achieve other aims and obje¢tives
included it] PAT'5 Menlorandum of Association.

THE PLYMOUTH ASTOR TRUST (VHS)
REPORT OF THE TRUSTEES
Issues arising follojying Year End
Since 31 M8rch 2024, Stratton Creber Commercial (SCC) Propety Consultants have continued n¢gotiations with
FFSC to on lease renewal for occupation of 40 Looe Street (2 Peacock Lane), W0￿)ng with GA Solicitors. The
¢urrent position of FFSC is as follows:
The tenant is willing to agree a 5 year lease and a rent of £12,900 pa with annual breaks on the firsL seconiL third
and fourth anniversaries of the lease term. The tenants are however insisting on a 3 month rather than a 6 month
break notR¢e. They also wish the completed licence to alter to be carried forward and acknowledged in the new
lease. Also, they are prepared to give an indemllity against el¢ctrickty use since the date of their first occupation.
SCC believe that FFSC ar¢ worktng with their electricity supplier on the basis they will only become liable for
consumption once a s]nart meter is installed and not retrospectively. GA Solicitors have been infonned of FFSC'S
urrent position, but head of ternis have still to b¢ agreed between parties and thus a draft lease has not been
prepared. A Letter of Comfort giving PAT access to filing cabinets and to hold occasional meetings at 40 Looe
Street (2 Peacock Lane) has still to be discussed.
FFSC have infornied PAT they wish to make alterations to tbe building at 40 Looe Street to improve facilities.
PAT has requested detailed drawings, plans and specifications setting out the works FFSC proposes to conduct so
PAT can consider the proposals.
The new lease for 30 Looe Str¢et remains with TOPS for final approval. GA Solicitors hav¢ stated that'%bere ar¢
very few points outstanding"
Margaret Mcmillan Nursery: Mcmillan are seeking to expand the floor area on the ground floor and increase
capacity. They have infornled PAT that a survey of the ground floor area (indoor and outdoor spaces) took place,
and they are now awaiting drawings from tbe architecL which they will pass on to PAT and if requiredthe planning
department at the council.
Also, PAT gave perniission for the removal of an old bath, providing all remaining servA¢es are safety sealed, the
existing fabric and all fmishings reinstated and all work conducted to conforni to Health and Safety requirements.
This report has been prepared having taken advantage of the small company's exemption ill the Companies Act 2006.
Signed on beI￿lf of the Board of Management 26 August 2024 by:
P.R.Sanders
Chair

THE PLYMOUTH ASTOR TRUST (VHS)
Indep¢Ddent Examiner?s Report to the Trustees of The Plymouth Astor Th18t (VHS)
I report to the charity trustees on my exawination of the accounts of the company for th¢ year ended 31 Marcb 2024 which are set
out onpages 9 to 18.
RespoD$ibilitles and basis of report
As the charity trustees of the company (aud its directors for the pun)oses 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 myselfthatthe accounts ofthe company are not required to be auditedunder Part 16 ofthe 2006 Act and are eligible
for independent examination. I re￿￿ in respect of my examination of your company's accounts as conducted Under section 145 of
the Charities Act 2011 ('the 2011 Act,). Jn ci)nducting my examinatio￿ I have followed the Directions given by the Cjjarty
CoM￿lSsion under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examillation. I confm tbat no matters have Come to my attention in coDnection with the examination giving
me Cause to believe that irn any material respect:
accounting records w¢re not kq)t in respect of the cojnpany as required by section 386 of the 2006 Act: or
the accounts do not accord with those records. or
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 'trne and fair view, which is not a matter considered as part of an independent examination. or
the accounts have not beenprepared in accordance with tbe methods andprinciples of the Ststement of Recommended Practice
for accowiting and reporting by charities applicable to charities prep￿Ing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no con¢¢rns alld have come across no otheT matters in connection with the exami￿On to which attention should be drdwll
in this report to enable a proper understanding of the accounts to b¢ reacheiL
Guy Ian Northcott
FC& Bsc(Econ) Hons, DCIkn
Northcott Trnmfield
Chartered Accountants
Devonshire Villa
52 Stuart Road
Stoke
Plymouth
PL3 4EE
Date: 26 August 2024

THE PLYMOUTH ASTOR TRUST (VHS)
STATENIENf OF FINANCIAL ACTIVITIES (including Income and Expenditure A¢¢oullt)
FOR TAE YEAR ENDED 31 MARCH 2024
2024
Restricted
Funds
Unrestricted
Notes Funds
Endowmellt
Funds
2023
Total
Total
ID¢ome 2nd endowments from:
Investments
Donations
49,448
170,185
49,448
170 185
44,008
2,000
Total income and endowments
219,633
219,633
46,008
Expenditure on:
Raisillg fullds
CILaritable activities
7,121
15,752
7,121
15,752
6,503
23,366
Total expendithre
22,873
22,873
29,869
Net iDcome/(expenditure) and net
movement in fvnds before gainsloosses)
on inv￿tMents
196,760
196,760
16,139
Net gainl(losses) on investments
12
70,381
70,381
(39,310
Net income/(expenditure)
267,141
267,141
(23,171)
Transfers between fund$
Other recognised gaMDsIOosses)
Net movement In funds
12
267,141
267,141
(23,171)
ReconcilRation of funds:
Total fun(L8 brougbt forward
12
699,421
287,000
iio,000
1,096,421
I,119,5￿2
Total fjjnds ¢attied forward
12
966,562
287,000
i 10,000
1.363,562
1, 096,421
All illcome and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.

TH￿ PLYMOUTH ASTOR TRUST (VHS)
BALANCE SI￿ET
AT 31 h￿RCH 2024
Note
2024
2023
Flx¢d assets
Tangtble assets
Investments
ioi,000
1,244,871
ioi,100
953,962
Current assets
Debtors
Cash at bank and in hand
io
1.049
46,807
47,856
21,651
21,651
Creditors:
Amounts falling due within one year
3,960
6,397
Net current a88ets
17,691
41,459
Total assets le88 current liabilities
1,363,562
1,096,421
Net assets
1,363.562
1,096,421
Capital funds
Restricted Sjnds
12
287,(X)O
287,000
Endowments
12
i 10,000
i 10,000
Income funds
Unrestricted funds
Revaluation reserve
Designated fund
12
12
12
801,964
164,598
600,841
98,580
Totsl charity funds
1,363,562
1,096,421
For the year ended 31 March 2024 the company was entitled to exemption from audit llnder section 477 of the Companies Act 2006
relating to small Companies.
Directors, responsibilities,,
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with
section 476.
The directors acknowledge their responsibi]itses for complying with the r¢quirnents of the Companies Act 2006 with respect
to accounting re¢ords and the preparation of accounts.
The arxoullts bave been prepared in accordance witb the provisions applicable to companies Subject to the small company's regime.
These financial statements were approved and authorised for issue by the Board of Tn￿teeS on 26 August 2024 and were Si8lled on
their behalf by:
P.IL Sallders . Director
Company No. 02535755
The notes on pages l I to 18 fonn part of these accounts.
io

THE PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FtNANCIAL sTATEmE￿rs
FOR THE YEARENDED 31 MARCH 2024
Summary of significant accounting policies
(a)
Gentral ffinfonllation and basis of preparatlon
The Plyxnouth Astor Trust (VHS) is an individual company limited by guarantee registered in England in the
United Kingdom. In the event of the ch￿lty beillg wound up, the liability in respect of the guarantee is limited to
£1 per member of the charity. The address of the registered office is given in the ch￿lty information on page l of
these financial statements. The nature of the charity's operations and principal activities are:
Our Memoran(tum alld Articles of Association state that PAT is:
estab]ished for all or any p￿)oSeS for the benefit ofthe inhabitants ofthe Sutton Ward of Plymouth in particular
and the CAty of Plymouth in general which is now or hereafter may be deemed by law to be charktable and in
P8rticular the relief of povety, distress and sic]ffless, the furtherance of health and the advancement of education
and the provision of facilities ill the interests of S￿la1 welfare for recreation and leisure time occupation with the
objects of improving the conditions of life for the said inhabitants and generally to do all such lawful acts at
things as are incidental and conducive to the attaimnent of these objects."
In the development of PAT to meet this object we work to the following aill￿ and objectives:
To enhance the well-being of communities and people in the City of Plymouth in general and the Borough of
Sutton in particular by the provision of services and facilities to promote social jwtice, welf8re, aud education in
the areas of greatest need.
The r]nancial statements are prepared on a going concern basis under the historic cost Conventio￿ modified to
include certain items at fair value.
The charity constikntes a public benefit entity as defined by FRS102.The financial statements have been prepared
in accord8nce with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
¢hariti¢s prep2ring their accounts in a¢¢ordall¢e with the Fill8llcial Reporting Stsndard applicable in the UK and
Republic of Ireland (FRS 102) (second edition- October 2019), the Finwcial Reporting Standard applicable in tbe
United Kingdom and Repubjic of Ireland (FRS 102), the Compauies Act 2006 2nd UK Generally Accepted
Practice as it applies from l January 2015.
The flnancial statenlents are prep8ttd i)n a going concernbasis, as the trustees be]ieve thatno materialuncertainties
exist. The financial statements are prepared in sterling which is the fimctional currency of the charity and rounded
to the nearest £1.
The significant accounting policies applied inthe preparation of these fmancial ststements are set outbelow. These
policies have been consistenty applied to all years presented unless otherwise stated.
(b)
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the TnL8te¢s in fiwtherallce of
the general objectives of the charity alld wbicb have not been desigllated for other pu￿oses.
Designated funds comprise uDrestricted fullds that have been Set aside by the Trustees for purposes. The aim and
use of each designated fimd is set out in the notes to the fxnall¢ial statements.
Restricted fimds are fi￿d$ whAch are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the charity for particular purposes.
Endowmentfynds represent those llssets which must be held pernianently by the charity, principally inveslments.
Income arising on the endowment fillAds can be uscd in accordance with the objects of the charity and is included
as unrestricted income. Any capital gains or losses arising on tb¢ inv¢St￿¢llts fonxL part of tlle fund.
tnvestment xncome and gains are allocated to the appropriate fim(L
li

THE PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(c)
Income recognition
All incoming resources are included in the SOFA wlLen the charity xs legally entitled to the income and the amount
Cgll be quantified with reasonable accuracy. For legacies, ¢ntitlem¢llt is the earli¢r of the charity beiug notified of
an in]pending distribution or the legacy being received.
Gifts in kind donated for distributii)n are included at valuation and recognised as illcimle when they are distributed
to the projects. Gifts (lonated for resale are included as incollk¢ whenthey are sold. Donated facilities are included
at the value to the charity where this can be quantified, alld a third paty is bearing the cost. No amounts are
illcluded in the flllancial statements for services donated by volunteers.
Incoming resources are only defetted when the income is for a future period an(Vorhas itnposed conditions which
must be satisfied prior to the charity having entitlement to the income.
(d)
Expenditure recognition
Resources ¢xpended are recognised in the period in which they are incurred. Resources expended include
attributable VAT which caDllOt be recov¢red. Charitable expenditure and adMi￿tratiOn costs coTnpri5e direct
expenditure including direct stsff costs attributable to the activity.
Support costs include central costs and have been allocated to a¢tivity cost categories on a b&8iS ci)nsistent with
use of ￿qoUr¢c8. Governance costs are identified as costs &ssociated with statutory constitirtional requirements.
Grants payable charged in the year when the offer is conveyed to the recipient except in those cases where the
offer is conditional, such grdnts being recognised as expenditure when the conditions attaching are fidfdle(L Grants
offered subject to conditions which have not been met at the year end are noted as an intention, but not accrued &8
expellditLWe.
(e)
Flxed assets and depreciatlon
Freehold properties: No depreciation is charged on these properties as the lives of the properties are so long and
the residual values based on cost or subsequent revaluation to be htgh enough to ensure there is no significant
aTmual depreciatio]L Freehold lond is not depreciated. Annual review takes please to establish any pernianent
diminution in values of fixed assets.
Depreciation is provided to wrAte off the cost of tangible fixed assets in equal illstahnents over their estimated
useful economic life. The estimated useful lives 8Te as follows:
Freehold and Leasehold Land and Buildings are included at the directors, best estiwate of tbe market value.
Equipment
20% straight line
(D
Investments
Investhients held as fixed assets are recognised initially at fair value which is nom￿llY the transaction price
excluding transaction costs. Investments Are held primarily for an xllvestment return.
Subsequently they are measured at fair value with changes recognised iu net gainsnosses on inveslments in the
SOFA if the shares are pubjicly traded or their fair value can be otherwise measured reliabty.
Debtors and creditors receivabIelpayable withln one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction Price. Any losses arising from impairnient aye re¢ogDised in expenditure.
12

THE PLYMOtrrH ASTOR TRUST (VIIS)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(h)
Cash at bank and An hand
Cash at bank and cash in hand includes cash 2nd short tenn bighly liquid investments with a short maturity of
three months or less from the date of acquisxtion or opening of the deposit or similar account.
(i)
FknaneAal instruments
The clwity 0￿Y has finallcial assets and finatkcial liabilitie5 of a kind that qualify as basic fmancial instnllnents.
Basic financial instruments are initially recognised at transadion value and wbsequentty measured at their
settlement value except for bank loans which are subsequently nleasured at amortised cost using the effective
illteresl m¢tho(L
Income and endowments
Unr¢stricted
2024
2023
Total
Total
Dividends and tnterest re¢¢Avable
Pri)perty income
20,448
29,000
49,448
170,185
17,008
27,000
44,008
2,000
Donations (NLAST & Astor Playing Field)
219,633
46,008
Expenditure
2024
Total
2023
Total
Raisingfynas
Investment n￿lager fees
7,121
6,503
Chantable activities
Grant ￿￿kIllg activities:
Furtberance of health and social w¢llbeing
Advancement of education
Alleviation of povety
6275
13.037
1,000
1,000
15,037
6,275
Support costs
Wages
Insurance
Postage, stationery, alld document disposal
TraveL training, subsistellce and welfare
Marketing
Legal
Depreciatio
4,320
892
35
510
156
2,784
4,320
766
94
506
370
1,453
loo
7,609
8,697
Governance
bjdependent Examination
780
720
Charitable activities
23,366
Total expenditure
22,873
29,869
13

THE PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FtNANCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
Grants fvnding of activities
2024
GT8llts to Institutions
2023
Grants to Institutions
Charitable activities
Grant making activities:
Furtherance of health 8lld SO¢Aal wellbeing
Education
Alleviation of y)vety
13,037
1,000
1,000
13
6.275
6,275
15,037
15
In 2023-2024 bursaries were fiulded from dividends earned from the Barclays Charity Fund Portfolio. £6.275 has been
transferred to Ulliv¢rskty of Plymouth who pay the bursaries to students. A total of twelve students were awardedbursaries.
As stated above University of Ptymouth received a grant exceeding £2,500.
Net In¢omd(expenditure) for the year
2024
2023
The net illcomdexpenditur¢ for the year is stated after charging:
Governance costs: Independent Examinatii)n
Depreclation
Profit/Ooss) on fair value movement of investments
780
720
loo
(39,310)
70,381
Staff numbers and costs
The average monthly nutnber of employees during the year (excluding Trustees) by fimction was:
2024
2023
Charitable activities:
The staff costs ill respect of these employees were as follows:
2024
2023
Wages
4,320
4,320
No employee earned £60,000 per aDnum or more.
None of tbe Trustees or persons connected with them received any emoluments or expenses during the year.
The totsl amount of employee benefits received by key management personnel is £nil (2023: nil). The trust considers its
key management personnel compromise the Trnstees.
Taxation
As a charity, the company has taken advantage of the exemptions from taxation available under S505 Income aud
Corporation Taxes Act 1988 or section 252 of the Taxatioll of Chargeabl¢ Gains Act 1992 to the extent that these ar¢
applied to its chartable objects.
14

THE PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
Tangible fixed assets
Freehold
Land and
Buildings
Long
Leasehold
Equipment
Total
COST OR VALUATION
At l April 2023
Additions at cost
At 31 March 2024
100,000
6,838
1,000
107,838
loo 000
1,000
107 838
DEPRECIATION
At l April 2023
Charge for the year
At 31 March 2024
6,838
6,838
6,838
6,838
NET BOOK VALUE
At 31 March 2023
loo,000
1,000
ioi,000
At 31 March 2024
loo 000
ioi 000
The trustees re-value the assets periodically as to their best estimate of the open market valu¢ of the properties.
Freektold Land and Buildings consists of:
the property at 24 Hoe StreeL The Hoe, Plymouth, which is occupied bythe Margaret McMill8n Nursery (Margaret
Mcmillall Limited Reg. No. 1118357). In accordaoce with the wishes of Waldorf and Nancy Astor, who gifted
The PlymouthAstor Trust (VHS) with the premises known as 24 Hoe Street, those premis¢s #re let to the M8Tgaret
Mcmillan Nurs¢ry SchooL all illdependent charity, on a rent free basis for as Iollg as the school continues to fulfil
its clkaritable purposes. The existing ie&8e is for 99 years commencing on 29 April 2002 and expiring on 28 Apri
2101.
Use of Assets:
Freehold
Land alld
Buildings
Long
Leasehold Equipment
2024
Totsl
Mcmillan Nursery School (Reg. no. 1118357)
Friends & Fatllily of Special Children (Reg. no, 1114692)
Support
1,000
1,000
loo,000
loo,000
loo,000
1,000
ioi,000
15

THE PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
Investments
Freehold
Listed
Property Portfolio
2024
Total
2023
Total
Brewin DoRphin
Cost or market value at l April 2023
Additions at cost
Disposal proceeds
Net Gain/(Loss) Oll revaluation at year end
286,000
667,962 953,962
289,953 289,953
(233,697) (233,697)
59,954
59,954
963,223
71206
(41,157)
39,310
Market value at 31 March 2024
286,000
784,172 1.070172
953,962
Historic cost- portfolio
286,000
629,962 915,962
855,384
The freehold propoty at 30 Looe StreeL Bretonsid4 Plymouth is used fornursery scrvAces by a separnte organtsation.
Listed
Portfolio
2024
Total
2023
Total
Bardays Charity Fund
Cost ormarket value at 4 December 2023 transferred
Addltions at cost
Dispos21 pro¢¢eds
Net Gainl(Loss) on revaluation at year end
164,494 164,494
(222)
10,427
(222)
10,427
Market value at 31 MAr¢h 2024
174,699
174,699
Historic wst- portfolio
136,336 136,336
The Barclays Charity Fund is shown separat¢ly because these fimds were transferred to PAT from NLAST on 4 Dec 2023.
Invesiments are primarily held for aa investment return.
io.
Debtors
2024
2023
Other debtors
1,049
ii.
Creditor$: Amounts falling due Tvithin one year
2024
2023
Trade ¢reditors
Accruals
710
3,250
4,001
2,396
3,960
6,397
16

TH￿ PLYMOUTH ASTOR TRUST (VHS)
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
12.
Statement of funds
At
l April
2023
GailllLoss
At
31 March
2024
Income
Expellditltre Transfers R¢valuation
Profits
Unrestricted fi)nds
Revaluation reserve
Designated fimds
Pennanent Endowmellt fiulds
Capital funiLs
600,841
98,580
219,633
(16,598)
(6,275)
4,363
66,018
801,964
164,598
(6,275)
6,275
i 10,000
287,000
i 10,000
287,000
1,096,421
219,633
22,873)
70,381
1,363,562
At
l April
2022
Gain/Loss
At
31 Matth
2023
Lll¢ome
Expenditllr¢ Transfers Revaluation
Profits
Unrestricted funds
Revaluation reserve
Designated funds
Pennanent Endowment fi]nds
Capital funds
574,797
145,795
2,000
iio,000
287,000
46,008
(25,869) 12,000)
7,905
(47,215)
600,841
98,580
(4,000)
2,000
i 10,000
287,000
1,119,592
46,008
29.869
39,310
1,096,421
Unrestricted Funds represent the provislon of services, facilities, social care and comtllullity development.
Designated Funds ryresent fiulds the board have allocated for grallts See section 4.1 for detstls of awards.
The Endowment Fund w&8 established in 1990 by the ¢lwity I￿￿eS to 2¢¢umulate under capital growth until £1 10,IKK)
in value at mininLUm had been achieved and was established to provide a secure and predictable streaDJ of income for the
clwity.
Th¢ Capital Funds repres¢nt the value of the propety known &9 24 Hoe StreeL Plymout￿ which was endowed to The
Plymouth Astor Trust (VHS) by WaldorfandNancy Astorwho wisbedthatthose premises are letto the Margaretmcmillall
Nursery School, an independent charity, on a rent free basis for as long as the school ¢ontinues to fulfil its Ch￿Itable
purposes. A 99 year lease w&g gr￿ted in 2007 to the trnstees of the Margaret McMilEall Nursery S¢hool on similar tern]s
to those previously in place. The clwity's residual interest is valued at £1,000.
In addition, the Restricted Capital Funds inCh￿¢S £286,000 which was granted in the year ended 31 March 1998 to the
charity frotll the Conllnuoity Fund (fornierly known as the National Lottery Charities Board) specifically to purchase offi¢¢
¢quApmenL fillniture, refiwbishment costs and professional fees for the pU￿oSe of developing the Redwood Family Centre
at 30 Looe Street, Plymouth. The grant ternis alld conditions expired 10 years from a￿llIsItion and is repayable upon
detlland shouId the charity breach the conditions therein. This repayment period has llow expired but approval must be
sought if the prop¢ty 15 sold or used as security.
17

NOTES TO THE FINANCtAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13REPOAS4lY0b STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Revaluation
Reserve
Restricted
Capital
Funds
Unrestricted Desigllated
Funds
Fund
Endowment
Funds
Total
CONWle fixed ass¢ts
Jnveslments
Net CUTrent assets
Legal and administrative info]mation
Totsl net a55ets
loo.000
684, 274
17,690
1,000
286,000
ioi,00
110,000 1,244,87
17,690
164,598
1fv1,598
801,964
287,000
110,000 1,363,562
Report of the trl￿eeS
14.
Share Capital
2/7
Jndep
'a F•y limited by guarant¢e with no share capital. The liabilxty of the members is limited to £1 per 8
member.
Statement of fmallcial activxties
15.
Leases
BalancThbethrity has a 125 year lease, granted in 2004, on the ground floor of pftrt of 40 Looe Street under a peppercorn rent. io
Iwotes stat¢￿ellts
PAT was previously the Trustee of The Astor Playing Field Trust (Reg. No. 300927). As previously stated, with the
perniission of the cl￿rity Cornn￿slon the Astor Playing Field Trust has been dissolved and resources transferred to PAT.
11118
17.
Trustee remuneration
There w¢re no payxnents to Inistees for remuneration or reimbursement of expenses.
18.
Related party tran8actlon8
There were no related party transactions.
18