PAYNE GALLWEY 1989 CHARITABLE TRUST FINANCIAL STATEMENTS 5 APRIL 2024 (CHARITY NO 1016286) BREWERS Chartered Accountants & Registered Auditors Bourne House Queen Street Gomshall Surrey GU5 9LY
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 Contents Page Legal and Administrative Information Annual Report of the Trustees Auditors report Statement of Financial Activities Balance Sheet 12 Notes to the Accounts 13
PAYNE GALLWEY 1989 CHARITABLE TRUST- CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 LEGAL AND ADMINISTRATIVE INFORMATION Reference and Administrative information TRUSTEES Edward Leigh-Pemberton Emma Nutt Caroline Todhunter Charles Leigh-Pernberton AUDITOR Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY BANKERS Brown Shipley Private Banking Founders Court Lothbury London EC2R 7HE INVESTMENT MANAGERS Evelyn Partners 45 Gresham Street London EC2V 7BG PRINCIPAL OFFICE Clo The Estate Office Manor Farm Little Coxwell Faringdon Oxon SN7 7LW WEBSITE www.pgct.co.uklhome SOLICITORS Humphries Kirk 17 Market Street Crewkerne Somerset TA18 7JU
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 ANNUAL REPORT OF THE TRUSTEES The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements, comply with the Statement of Recommended Practice" Accounting and Reporting for Charities., statement of recommended practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards including the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102 2nd Edition, effective January 2019), the Trust Deed and the Charities Act 2011. Structure and Governance The Trust, a registered charity - number 1016286, was originally created by Deed dated 11 January 1987 with initial capital of £200 from Sir Philip Frankland Payne-Gallwey, Bart, who also gave 15,000 British Bloodstock Agency PIC 25p Ordinary shares to the Settlement at his original cost of £2,187 (market value on date of Settlement £23,475) with hold over relief being claimed for Capital Gains tax purposes. Following discussion with the Charity Commission an amended Deed was drawn up dated 1 November 1989 and the assets of the original Trust Fund were re-appointed to this Trust Fund under its terms and conditions namely that its object is to "support such Charitable Institution or Institutions as the Trustees shall in their discretion from time to time determine" The Trustees have fulfilled their obligations under the Trust making various donations to charities as shown in the attached accounts. On the death of Mrs J Payne-Gallwey on 6 June 1996 a Deed of Variation was executed whereby investments and cash totalling £200,000 were added to the Trust. Sir Philip Payne-Gallwey Bt. died on 3rd February 2008 and under his Will left the bulk of his estate to the Charitable Trust. The Trust does not actively fundraise and seeks to continue its charitable work through the careful stewardship of its existing resources. Objects of the Charity The object of the Charity is to make a wide range of charitable grants at the discretion of the Trustees. Decisions on grants are made by all the Trustees. The Trustees identify projects and organisations they wish to support as well as some organisations who apply speculatively. Trustee Appointment and Tralnlng Trustees are elected at a meeting of the Board of Trustees on the basis of nominations received from the Trustees. Trustees are given training when appropriate. Were there a requirement for new Trustees these would be identified and appointed by the remaining Trustees. The day to day administration of the Trust is Garried out by Edward Leigh-Pemberton. The Trustees meet at least half-yearly but have regular Contact and discussion between meetings and agree the broad strategy areas of activity for the trust including consideration of grant making, investment reserves and risk management policies and performance. Apart from Trustees, charges for travelling and phone expenses totalling £969 (2023: £324), Trustees have not charged for time spent on general matters, meetings etc, all of the Trustees give their time freely. Related party transactions are given in notes 4 and 8.
PAYNE GALLWEY 1989 CHARITABLE TRUST- CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 ANNUAL REPORT OF THE TRUSTEES- CONT'D Public Benefit The objects of the Trust are to make a wide range of charitable donations. The Trustees confirm that they have referred to the public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities and setting the grant policy for the year. The Trust furthers its charitable purposes for the public benefit through its grant making policy which aims at.. Relief of poverty Education Religion Health and well being Grant Making Policy The trust has established its grant making policy to achieve its objects for the public benefit. The trust aims to improve the lives of a wide range of beneficiaries through the grants it makes as noted above. The trustees invite applications for grants which are reviewed by the trustees and grants are awarded based on merit by all the trustees. Decisions are minuted. Achlevements and Performance of the Trust During the year the Trust has made donations to a wide range of beneficiaries including the sick, disabled, elderly and disadvantaged. A list of donations is given in appendix 1 to this report. Financial Review The principal funding source of the Trust is investment return. During the year dividends and interest on investments of £182,246 (2023.. £191,243) were received. Donations of £239,509 (2023: £250,000) were granted to a wide range of beneficiaries during the year. Losses on disposal of investments were £46,356 (2023: gains £443,694) and gains on revaluation of investments were £574,833 (2023: losses £974,266) in the year under review. The net expenditure in the year before investment gains was £123,906 (2023: loss £124,291). At the end of the year the reserves stood at £8,776,448 (2023: £8,361,877).
PAYNE GALLWEY 1989 CHARITABLE TRUST- CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 ANNUAL REPORT OF THE TRUSTEES - CONT'D Reserves Policy The Trustees, policy on reserves is to spend dividend income and to ensure reseFves are sufficient to facilitate a stable donation policy- even though charitable giving exceeded investment income in the year under review, the market value of listed investments improved over the year to a level just shy of £9 million which far exceeds projected donations. Investment Policy The Trustees investment objectives are to achieve a balance between capital growth and to generate sufficient income to cover distributions to charitable causes. Trust investments are managed by Evelyn Partners, Stockbrokers with whom the Trustees have an annual meeting to review its policy and to ensure that the investments continue to meet the suitability requirements of the Trustees Act 2000 and the Charity Commission's guidan thereon. the Trustees maintain regular contact with Evelyn Partners with regard to investment performan and management. The extreme volatility in the stock market has made the management of investments extremely difficult, however the charity is a long-term investor and the trustees believe that a mixed portfolio of investments and cash remains appropriate. The total return on all investments before fees was approximately 30/0 which was better than the FTSE APCIMS Stock Market Balanced Index, Risk Management The Trustees have examined the major strategic business and operational risks which the charity faces and confimi that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen risks. The Trustees consider variability of investment returns to constitute the Gharity's major financial risk and recent extreme volatility in world stock markets have demonstrated this risk. The Trustees have tempered this risk by ensuring a diverse portfolio of investments in shares, trusts, loan notes and government stock. Future Plans The Trustees intend to continue providing grants on a similar scale to the past., the Trustees will continue to take account of any increase in market value of the investments. The total grants distributed in the year amounted to £239,509 (2023: £250,000) as listed in appendix 1.
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 Trustees Responsibilities in Relation to the Financial Statements The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to.. a) select suitable accounting policies and apply them consistently-, b) observe the methods and principles in the Charities SORP., c) make judgments and estimates that are reasonable and prudent., d) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. In so far as the trustees are aware:
there is no relevant audit information of which the Charity's auditor is unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Edward Leigh-Pemberton Signed on behalf of the Trustees
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED S APRIL 2024 AUDITOR'S REPORT TO THE TRUSTEES OF PAYNE GALLWEY 1989 CHARITABLE TRUST Opinion We have audited the financial statements of Payne Gallwey 1989 Charitable Trust (the 'charity') for the year ended 5 April 2024 which comprise Statement of Financial Activities and Balan Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 5 April 2023 and of its incoming resources and application of resources for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events of conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED S APRIL 2024 Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the infonnation given in the trustees. report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept" or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial ststements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they Gould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. These matters were discussed amongst the engagement team at the planning stage and the team remained alert to noncompliance throughout the audit. Audit prOdureS undertaken in response to the potential risks relating to irregularities (which include fraud and non- compliance with laws and regulations) comprised of: inquiries of Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims,. inspection of relevant legal correspondence,. review of Trustees meeting minutes., testing the appropriateness of journal entries,. and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordan with ISAS (UK). A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. htt s"Ilwww.frc.or .uklauditorsres onsibilities. This description forms part of our auditor's report.
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED S APRIL 2024 Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. EWE St Bourne House, Queen Street Gomshall, Surrey,GU5 9LY Date.. 23 September 2024 Brewers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 10
PAYNE GALLWEY 1989 CHARITABLE TRUST- CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 STATEMENT OF FINANCIAL ACTIVITIES 2024 Unrestricted 2023 Unrestricted INCOME Investment Income Total Income Notes 182,246 182,246 191,243 191,243 EXPENDITURE Cost of raising funds Investment manager's costs Charitable activities Total Expenditure 50,526 255,626 306,152 50,631 264,903 315,534 Net Expenditure before Investments {losses)Igains 123,906 124,291 Net gainsl (losses) on investments 538,477 {530,573) Net Incomel(Expenditure) 414,571 654,864 Net movement in funds Reconciliation of funds Total funds brought forward 8,361,877 9,016,741 Total funds carried forward 10 8,776,448 8,361,877 Continulng activities All the figures included in the statement of financial activities derive from continuing activities of the charity. Totsl recognised gains and losses All recognised gains and losses are included in the statement of financial activities.
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 BALANCE SHEET 2024 Unrestricted 2023 Unrestricted Notes FIXED ASSETS Investments 8,719,837 8,025,670 CURRENT ASSETS Cash with stockbrokers Cash at bank 67,315 16,470 83,785 336,932 22,563 359.495 LIABILITIES FALLING DUE WITHIN ONE YEAR Creditors (27,174) 23 288 NET CURRENT ASSETS NET ASSETS 56,611 336,207 8,776,448 8,361,877 THE FUNDS OF THE CHARITY Unrestricted fund 8,776,448 8,36 1,877 Approved by the Trustees on nd signed on their behalf by.. Edward Leigh-Pemberton 12
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES Basis of Preparation Payne Gallwey 1989 Charitable Trust is a public benefit entity and the accounts are prepared under the historical cost convention, except for investments which have been included at market value. The accounts are prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2nd Edition, effective January 2019) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The financial statements have been prepared to give a "true and fair" view and have departed from the Charities Accounts and Reports Regulations, 2008, only to the extent required to provide a "true and fairf view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 2nd Edition, effective from January 2019) The accounts have been prepared on a going concern basis which assumes that the charity will continue in operational existence for the foreseeable future. The Trustees in assessing going concern have considered a period of one year from signing of these accounts. The functional and presentational currency is sterling and the accounts have been rounded to £1. b) Incoming Resources All incoming resources are recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and it is probable that the income will be received that the resources will be received, and the monetary value of incoming resources can be measured reliably. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor. Resources Expended Liabilities are recognised as resources expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required, and the amount of obligation can be measured reliably. Expenditure is accounted for on an accrual's basis. Irrecoverable VAT is charged to the Statement of Financial Activities as incurred. d) Charitable Activities Costs of charitable activities include grants made, support costs and governance. Grants Grants are made to third parties in the furtheran of the charitable objectives of the Trust. Grants are recognised once the Trust has made an unconditional commitment to pay the grant. 13
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 Cost of Raising Funds The costs of generating funds consists of the investment manager's fee. g) Governance Costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit h) Fixed Asset Investments Fixed asset investments are included at transaction value and are subsequently measured at market value using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Realised Gains and Losses The trust does not acquire, or uses put options, derivatives or other complex financial instruments. All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and opening carrying value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date) if later. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. i) Cash and cash equivalents are defined as cash at bank and cash held by investment managers. k) Financial Instruments The charity holds only basic financial instruments, including listed investments. Listed financial investments are held at fair value. Basic financial instruments are transactions that result in the recognition of financial assets and liabilities like debtors and creditors. Financial assets are measured at cost and amortised cost less any provision from non- recoverability and are assessed at the end of each rereporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities. Financial liabilities are measured at amortised cost and are held at their anticipated settlement amount. Cash and bank and cash deposits held by investment managers are held at face value. Funds Unrestricted funds comprise funds which the trustees are free to use for any purpose in furtherance of the charitable objects. INCOME FROM INVESTMENTS 2024 2023 Dividends & interest receivable 182 246 191243 Income from investments arises from dividends receivable from investments listed on reGognised stock exchanges and interest in cash funds held by investment managers. 14
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED S APRIL 2024 NOTES TO THE ACCOUNTS- CONT'D CHARITABLE EXPENDITURE 2024 2023 Grants Support costs 239,509 16,117 255,626 250,000 14,903 264,903 List of donations made in the year, can be found in appendix 1. SUPPORT COSTS Accountancy Secretarial costs and website development Trust administration and meetings Governance costs Withholding taxes and sundry fees 2,520 2,914 1,060 9,000 623 16,117 2,160 3,002 324 8,100 1,317 14,903 Legal authority to pay remuneration is provided for in the trust deed dated 1 November 1989. Expenses of £969 (2023.. £324) were reimbursed to trustees for meeting expenses incurred in the year. GOVERNANCE COSTS Audit, inc. VAT 9,000 8,100 INVESTMENTS AT MARKET VALUE Investments on a recognised stock exchange Cost at Purchasesl adjustments In year Dlsposals Losses on Cost at Market Value 5 Aprll 2024 Market Value 5 April 2023 6 Aprll 2023 In year Dlsposals 5 April 2024 7,046,883 939,465 (804,797) (46,356) 7,140,451 8,719,837 8,025,670 Holdings split between UK and overseas 2024 2023 UK us Europe Far East (exc Japan) Rest of the World Japan 4,557,692 2,333,888 222,116 520,621 616,393 469,127 8,719,837 4,417,647 1,958,524 321,989 551,049 484,111 292,350 8,025,670 15
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED S APRIL 2024 NOTES TO THE ACCOUNTS - CONT'D The 10 largest holdings as at 5th April 2024 were.. 2024 2023 13,429 Xtrackers PIC Physical Gold etc 78,825 Ishares V11 PIC USD Treas Bond 20,915 SEI Global Master Fund PIC 1,990 Fulcrum Diversified ABS Rtn 248,332 Sanlam International 690 Microsoft Corp 47,294 WS Morant Wright Nippon Yield 20.096 Blackrock Emerging Mkts 1,644 AQR UCITS Managed Futures 7,133 Shell PIC Ords Euro 144,715 Hermes Invest Global Emer Mkts 50,265 UK Gov't Bonds 4.125 % 712030 176,494 UK Gov't Bond 10/0 412024 181,452 UK Gov't Bond 1.50/0 712026 369,700 354,156 287,372 248,433 238,026 232,342 225,058 201,965 201,472 198,297 326,056 370,315 269,385 230,233 251,809 168,553 201,936 176,184 172,068 171,582 2,338 121 2,556,821 A full schedule of portfolio movements during the year and holdings at the Balance Sheet date is included as appendix 2 to this report. Investments were held in the following sectors: 2024 2023 Fixed Interest & Index Linked UK Equities UK Equities USA Multi Assets Equities Japan Equities Europe Equities Far East Equities others HedgelABS Ret Funds Cash Total Investments 11% 230/0 16
PAYNE GALLWEY 1989 CHARITABLE TRUST - CHARITY NO 1016286 YEAR ENDED 5 APRIL 2024 NOTES TO THE ACCOUNTS - CONT'D CREDITORS: Less than one year 2024 2023 Accountancy fees, exc VAT - 2022 Accountancy fees, inc VAT- 2024 Audit, inc VAT Investment managers fees Secretarial costs 450 2,160 8,100 12,578 2,520 9,360 12,500 2,794 27,174 23,288 RELATED PARTY TRANSACTIONS During the year secretarial costs of £2,794 (2023.. £2,746) were charged by Berners Allsopp, a company of which E Leigh-Pemberton is a Director. Reimbursement of expenses.. 2024 2023 Trustee meetingsltravel 969 324 RESERVES 2024 2023 General fund at the beginning of the year Net incomel (expenditure) for the year General fund at the end of the year 8,361,877 414,571 8,776,448 9,016,741 654,864 8 361,877 10. NET DEBT I CASH & CASH EQUIVALENTS 2024 2023 Cash held by stockbroker Cash at bank 67,315 16,470 83,785 336,932 22,563 359,495 17
Payne Gallwey1989 Charitable Trust Year to 5th April 2024 Appendix I schedule of charitable glfts & donations 2024 2023 ' Moorfields Eye Charity Cancer Research UK Lambourne Valley Housing Trust Boxford Masques Greenham Trust re Boxford PCC National Youth Choirs of GB Berkshire Youth European Squirrel Initiative Friends of Kent Churches TWINS Deafblind UK RAW Workshop Combat Stress Family Holiday Association Lennox Children's Cancer Fund 'Chiid Brain InjuryTrust Rainbow Trust Chlldren's Charity Go 8eyond Welcome to the Future NARA The Breathing Charity ' Tall Ship Youth Bowel Cancer UK Thumbs Up Club The Corn Exchange Versu5 Arthrit15 ABC to Read Swings & Smiles The Archie Lloyd Charitable Foundation Young People and Children First Challenger5 Children with Cystic Fibrosis ., Community Safety Education Warrior Equine Root & Branch Westmill Bucks Vision Younger People with Dementia .Lambourn RDA Boxford PCC Garne & Wildlife Conservation Trust R.A.B.l. Greatwood Charity , Racing Welfare , National Gamekeepers Clocktower Foundation Thames Air Valley Ambulance Royal Star Garter The Watermill Theatre Hunt Servants Fund The Countryside Alliance | Propeller Academy Trust 5,000 25.000 1.000 20,000 1,000 2,000 500 2,000 5,000 5,000 1,500 2,000 2,200 2,000 2,000 2,800 2,000 4,000 2,500 2,500 2.500 3.000 1,500 2,000 2,500 2,000 2,000 2,000 3,000 7,500 7,500 5,000 7,500 5.000 2,500 3,000 7,500 7,500 10,000 7,500 10,000 4,000 4,000 5,000 3,500 8,000
BLESMA Wings for Warriors Care for Veterans STUBS Walking with Wounded Blind Veterans Recovery in Mind The Charlie Waller Trust Motor Neurone Di5ea5e A550ciation Leckhamstead Parochial Church , Ufton Court Wessex Children's Hospice Trust The British Racing School The Boleh Trust .PCC St Barnabus- Peacemore ' Handicapped Children's Action Group No. 5 Young People British Disabled Angling Association Horatio's Garden 3,000 3.000 3,000 5,000 2,000 3,000 5,000 5,000 3,500 4,000 5,000 5,000 3,000 1,009 3,000 3,000 5,000 3,000 2.500 5,000 Daisy's Dream Yeldall Christian Centres Designability Horne.Start West Berks Cruse Bereavement Support West Berks The Woodland Trust Icamp Mohawkl The Living Paintings Aspire 2 Reading Association for the Blind Faith in the Community Warrior Equine Read for Good Hope into Action Readin8 Stepping Stones SAFE Cianna's Smile St Mary's PCC Help Musicians Youn8 Lives vs Cancer RNIB Crohn's & Colitis UK I Age Concern Slough & Berks Colostomy UK Re-Engage Royal National College for Blind RNC Racing to Help Ukraine Convoy Chance to Shine Alexander Devine Hospice Alzheimers Research U K Berkshire Vision Footsteps Foundation, Hearing Dogs for Deaf People Magpas Air Ambulance Sebastian's Action Trust 5,000 1,500 1,500 2,000 2,000 2,500 4,000 3,000 2,500 500 4,000 4,000 4,000 3,000 5,000 10,000 5,000 3.000,, 5,000, 5,000 5,000 3.000 Total for the year 239,509 250,000