THE INGRAM TRUST (Registered Charity Number: 1040194) TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 THE INGRAM TRUST
THE INGRAM TRUST TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS CONTENTS Page Trustees, Annual Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
Page 1 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their report and independently examined financial statements of The Ingram Trust ('the trust" or "the charity") for the year ended 5 April 2024. These have been prepared in accordance with the accounting policies set out on pages 11 to 13 and comply with applicable charity law. REFERENCE AND ADMINISTRATIVE DETAILS The Ingram Trust, registered charity number 1040194. is based and administered in the United Kingdom with a charity contact address of Eighth Floor, 6 New Street Square, London EC4A 3AQ. The email address of the charity is thein ramtrust rawlinson-hunter.com. The names of the Trustees who served during the year and continue to senie at the date of the report's approval are: Christopher John Ingram (the Founder and Chairman) Janet Elizabeth Ingram Clare Mary Maurice (re-appointed 27 September 2018 for 6 years) Sally Jane Ingram (re-appointed 23 January 2020 for 6 years) Jonathan Devereux Ingram (re-appointed 23 January 2020 for 6 years) Accountants: Rawlinson & Hunter LLP. Chartered Accountants Eighth Floor, 6 New Street Square. New Fetter Lane. London EC4A 3AQ Investment Manager and Advisors: Schroders Investment Management (Luxembourg) SA 5 rue Hohenhof, L-1736 Senningerberg, Luxembourg Langham Hall UK LLP Aldwych House, 81 Aldywch, London WC2 4HN Northern Trust International Fund Administration Services (Ireland) Limited George's Court. 54-62 Townsend Street, Dublin 2, Ireland Authorised Corporate Director of The HavenRock Fund: Carvetian Capital Management Limited Stuart House, St John's Street, Peterborough PE1 5DD Investment Managers of the HavenRock Fund: Goldman Sachs International Bordier & Cie (UK) PLC SandAire Limited Independent Examiner: Christopher Hawley FCA Rawlinson & Hunter LLP. Eighth Floor, 6 New Street Square, London EC4A 3AQ Solicitors: Maurice Turnor Gardner LLP 15th Floor, Milton House, Milton Street, London EC2Y 9BH
Page 2 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued) STRUCTURE, GOVERNANCE AND MANAGEMENT The trust was established by a Declaration of Trust dated 3 August 1994 and is an unincorporated charitable trust governed by the proper law of England and Wales. The Founder is Christopher John Ingram. The entire resources of the charity have been unrestricted throughout the year and the Truslees have complete discretion for their use. The management of the charily is conducted solely by the Trustees. The Trustees, investment powers are unrestricted. The power of appointing new or additional Trustees rests in Christopher John Ingram during his lifetime. Acting Trustees shall retire and seek re-appointment every 6 years except for the Founder and his wife (Christopher and Janet Ingram). Induction and Training Should new Trustees be appointed a formal induction process would be carried out. Other Trustee training is undertaken as and when appropriate. All Trustees are kept informed at meetings of their duties and obligations under the law in addition lo their proper conduct. Trustees, Responsibillties Statement The Trustees are responsible for preparing the Annual Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare the financial statements for each financial year. Under charity law the Trustees must not approve financial statements unless they are satisfied they give a trust a Irue and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including the income and expenditure. of the charity for that period. In preparing Ihese financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP {FRS102)', make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements" and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper 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 and where applicable. the Charities Act 2022, the 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.
Page 3 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Internal Controls The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps towards the prevention and detection of fraud. The system of internal controls is designed to provide reasonable. but not absolute, assurance against material misstatement or loss. Risk Management & Corporate Governance A risk assessment has been undertaken which comprises: An annual review of the risks the charity may face. The establishment of systems and procedures to mitigate those risks., and The implementation of procedures designed to minimise any potential impact on the Trust should those risks materialise. This continuing process will identify risk areas to which the Trust is vulnerable and highlight any neSSary safeguards that will need to be put in place. The most significant risk identified was a lack of capital r8tum of the fixed asset investments as they provide the liquidity to fund the charity's grant programme. The Trustees regularly monitor the valuation of the investments and have an awareness of the wider economic environment. The Trustees have signed fit and proper declarations in line with HMRC guidance. In addition, the Trustees have taken due consideration of Good Governance Code for the Voluntary and Community Sector, ensuring that the seven main principles of the Code are adhered to. These are.. Organisational purpose: Leadership.. Integrity; Decision-making, risk and control Board effectiveness. Equality, diversity and inclusion; and Openness and accessibility. The Trustees recognise that good governance plays an essential part in securing the future of the Foundation and confirm that the said principles of the Code are followed by them in leading, directing and managing the Trust.
Page 4 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued) OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The charity's objectives and principal activities are to extend donations to any qualified charities of any purpose, body organisation or object in any part of the world which under the law of England and Wales shall be recognised as exclusively charitable. Statement of Public Benefit As a grant-funder, the Charity's activities will provide public benefit to the individuals and communities who are beneficiaries of the Foundation's funded projects. The Charity's public benefit is not limited with reference to geography, by the charging of fees or otherwise. The Trustees are aware of the Charity Commission guidance on Public Benefit and confirm Ihat they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to it. They consider the information which follows in this annual report, about the Charity's aims, activities and achievements in the areas of interest that the Charity supports demonstrates the benefit to its beneficiaries and through them to the public. that arise from those activities. Grant Making Policy The trust deed states that the Trustees shall at their discretion pay or apply the income of the fund to or for the benefit of any one or more qualifying charity. The Trustees may have regard to and shall. if possible, follow the wishes of the Founder as expressed to them from time to time in writing but so that no legal obligation is put upon the Trustees. The Trustees, agreed grant making policies are as follows: To support specific projects which can include identifiable costs for special services or projects provided by the charity or equipment that is required. Generally, beneficiaries will be major national and international charities together with some local ones in the county of Surrey. The majority of grants will be committed for periods of 3 - 4 years at a time. This allows the trust to better assess grant applications. maximise the impact it can make on the charities it supports and to more effectively monitor project progress. Charities specialising in overseas aid are not considered except those dedicated to encouraging self-help and providing more permanent solutions to problems. No animal charities are considered except those concerned with wildlife conservation. Applications by individuals will not be considered as only registered charities Gan qualify for a grant.
Page 5 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2024 (continued) ACHIEVEMENTS AND PERFORMANCE The Trustees consider grant applications from new charities that they believe demonstrate concrete evidence of delivering public benefit and they review project progress and impact reports from existing grant recipients. Charitable Activities Charitable activities include grant commitmenls in the year of £512,907 (2023 - £577,500) and governance costs of £20,510 (2023 - £22,708). All grants made are in line with the Trustees, grant making policy as prescribed under Section 3 of this report "Objects and Activities for the Public Benefit". A full list of the grants made during the year ended 5 April 2024 is shown in Note 3 to the financial statements. The accounting treatment in respect of grants is in line with that set out in Section 7 of the SORP (FRS 102). During the year the charity awarded the following grants: Countryside Learning The Trustees renewed their support os the Countryside Classroom Days programme with a £90,000 commitment, distributed equally over three years (£30,000 annually). This initiative. focused on Special Needs Education children, aims to counteract the impact of reduced school trips due to funding cuts and has demonstrated promising results. Dyscover The Trustees approved a one-off donation of £10,000 to Dyscover, a Surrey-based charity supporting individuals with aphasia, a neurological condilion affecting language skills. This funding will help address long-term support needs not fully met by the NHS for people with aphasia and their families. Flying Scholarships for Disabled People (RIAT) The Trustees agreed to a £36,000 commitment, spread equally over three years (£12,000 per year), to fund aviation scholarships for adults with disabilities. Each scholarship covers up to 21 hours of flying tuition to help provide major aid and rehabilitation to their lives. Multiple Sclerosis Trust The Trustees agreed to donate £3,597 to the Multiple Sclerosis Trust to complete their fundraising target of £104,691 in covering the costs of an Advanced MS Champion professional at St George's University Hospitals NHS Foundation Trust over 15 months. Queen Elizabeth's Foundation The Trustees agreed to a £75,000 commitment, spread equally over three years (£25,000 per year), to support QEF'S Care and Rehabilitation Centre. This funding, reduced from the requested £105,000, will aid in neuro rehabilitation and the development of new respite care services. Samaritans - Leatherhead, Epsom & Dorking This local charity, affiliated with the UK Samaritans network, required funding for a new CCTV system to enhance security at their Leatherhead premises. The trustees agreed to make to a one- off donation of £3,000. South East Cancer Help Centre The Trustees agreed to a further £30,000, spread equally over three years (£10,000 annually}, to support SECHC'S seNices for cancer patients, including complementary Iherapies. counselling, and support groups.
Page 6 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued) ACHIEVEMENTS AND PERFORMANCE {continued) Woodland Trust The Trustees agreed to a £60,000 commitment, spread equally over three years {£20.000 annually), to support the Tree Pack Initiative. This project provides trees to Surrey schools and community groups to enhance wildlife habitats and climate resilience. WWF UK The Trustees approved a total of £180,000 over three years.. £25,000 annually for WWF'S UK Nature programme and £35,000 annually for unrestricted use. supporting both environmental and global conservation efforts. Yvonne Arnaud Theatre The Trustees agreed to a one-off donation of £20.000 to support the theatre's £5.88 million regeneration projeGt to, make th.e theatre more accessible, sustainable and fit for purpose for future generations. FINANCIAL REVIEW Incoming Resources & Resources Expended Incoming resources totalled £182,707 representing an increase from £173,357 in 2023. This income was entirely received from the trust's inveslment portfolio and interest from cash deposits. Investment income is shown gross of investment management costs and tax credits. Charity SORP (FRS 102) prescribes that investment management costs, when incurred, are separately accounted for under resources expended and more specifically under costs of raising funds. The Trustees note that the unrestricted Income Fund within the Statement of Financial Activities was in deficit of £350,710 (2023 - £426,851) for the year, due to the charitable granls exceeding the annual income. The Trustees agree that any annual deficit position shall be corrected by a transfer from the unrestricted Capital Fund. Charitable expenditure during the year was £533,417 {2023: £600,208) against a total income of £182.707 (2023.. £173.357) Investments The assets of the charity consist principally of investments and cash and these are collectively recorded on the Balan Sheet and supporting notes at their market value on that date. Any increase or decrease over cost on the restatement of these values is recorded in the Statement of Financial Activities. The majorify of the assets of the trust are held within the HavenRock Fund {"the Fund") an open ended investment company. The investment managers of the Fund, Goldman Sachs International, Bordier & Cie (UK) Limited and SandAire Limited are overseen by Carvetian Capital Management, the Authorised Corporate Director of the Fund. Carvetian Capital Management monitors the investments to ensure they are in line wilh the restriclions of the Fund. Carvetian Capital Management meets regularly with the investment managers of HavenRoGk and provides regular reports to the Trustees.
Page 7 THE INGRAM TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2024 (continued) FINANCIAL REVIEW (continued) The investment market value at 5 April 2024 was £10,428,822 (2023: £9,929.142). The Trustees realised investment gains of £2,134 (2023: £66,023 loss) on disposals, whilst the value of inveslments appreciated by £728,010 (2023.. depreciation of £818,457) for the year. Total investment gains for the year were £730.144 (2023- losses of £884,480). Please see Note 4 for details of the investment movements and holdings. Fundraising The Trustees have referred lo the Code of Fundraising Practice ("the Code") which was developed during Ihe year by the fundraising community through the work of the Institute of Fundraising and Public Fundraising Association, and the Guidan on Charities and Fundraising issued by the Charity Commission ("CC20') and the Charities (Protection and Social Investment) Act 2016 ("the Act"). They confirm that the Code, CC20 and the Act have no impact on the charity as it does not engage in any public fundraising activities. Reserves Policy The trust's 21 year accumulation policy expired on 3 August 2015. Until this date it had been the Trustee's policy to hold income generated from the investments in the Income Fund and any undistributed income at the year-end was earmarked for direct charitable expenditure in future years. The investment objectives of the charity remain unchanged as to preserve capital in real temis and provide sufficient income to meet the Trustees, requirements. Any undistributed income will be carried forward in the Income Fund to be distributed at a future date. There were no free reserves at the year-end. The financial statements have been prepared on a going concern basis as the Trustees believe that no material UnrtaIntieS exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for e1ve months from the date of signing of these financial statements. The forecast income and reserves are sufficient to cover all of Ihe budgeted expenditure to be able to continue as a going concern. The ongoing conflict in Ukraine and the resulting high energy costs and other cost inflating factors have affected the global economy. Having considered the contingency plans in pla and having reviewed updated cashflow forecasts, the Trustees consider the adoption of the going concern basis in preparing these financial statements continues to be appropriate. PLANS FOR THE FUTURE PERIODS The Trustees do not currently propose to deviate from the current objectives and activities of the trust as detailed in Section 3 of this report. Report approved by the Trustees and signed on their behalf by: Christophe Ingram (Chainnan> Dale:
Page 8 THE INGRAM TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES I report to the charity Trustees on my examination of the accounts of The Ingram Trust (Yhe charity") for the year ended 5 April 2024 which comprise the Statement of Financial Activities, Balance Sheet and the related notes. Responsibilities and basis of report As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5){b} of the Act. Independent Examin8r's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Christopher Hawley FCA Chartered Accountant and Independent Examiner Rawlinson & Hunter LLP Eighth Floor 6 New Street Square New Fetter Lane London EC4A 3AQ Date RAWLINSON & HUNTER
Page 9 THE INGRAM TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Income Capital Fund Fund Total Funds 2024 2023 Page Income from: Investments (note 2) 13 182,707 182,707 173,357 Total income 182,707 182,707 173,357 Expenditure on: Charitable activities (note 3} 15 533.417 533,417 600,208 Total expenditure 533,417 533,417 600,208 Net gainsl{losses) on investments (note 4) 15 730.144 730.144 (884,480) Net expenditure {350,710) (350,710) (426,851) (350,710) Transfers between funds 350,710 350,710 Net movement in funds 379,434 379,434 (1,311.331) Reconciliation of funds: Total funds brought forward at 6 April 2023 9,594,070 9,594,070 10,905,401 Total funds carried forward at 5 April 2024 10 £ 9,973,504 £ 9,973.504 £ 9,594,070 There are no recognised gains or losses in the years to 5 April 2023 and 2024 other than those included in the statement of financial activities. All incoming resources and resources expended derive from continuing activities. The notes on pages 11 to 18 form part of these financial statements
Page 10 THE INGRAM TRUST BALANCE SHEET AT 5 APRIL 2024 Page 2024 2023 Fixed assets: Investments (note 4) 15 10,428,822 9,929,142 Current assets: Cash at bank (note 5) 16 48,634 303,474 Liabilities: Creditors: amounts falling due within one year (note 6) 16 (346.952) {466.856) Net current assets (298,318) (163,382) Total assets less current liabilities: 10.130.504 9,765,760 Creditors: amounts falling due after more than one year (note 7) 16 (157.000) (171,690) Total net assets £ 9,973,504 £ 9,594,070 The funds of the charity". Unrestricted funds £ 9,973,504 £ 9,594,070 Approved by the Truslees and signed on their behalf by: 21 .i.s...... Trustee Date Trustee Date The notes on pages 11 to 18 form part of these financial statements
Page11 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES The Ingram Trust ("the trust" or "the charity.). registered charity number 1040194. is based and administered in the United Kingdom. The registered address is Eighth Floor, 6 New Street Square, London EC4A 3AQ. The nature of the charity's operations and principal activities are set out in the Trustees, Annual Report. The financial slatements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("Charities SORP FRS 102"), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and where applicable. the Charities Act 2022 and UK Generally Accepted Accounting Practice. The trust constitutes a public benefit entily as defined by Charities SORP FRS 102. The Foundation has applied the provisions set out in FRS 102, as published on 5 October 2019. and does not include a cash flow statement on this basis. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The significant accounting policies applied in Ihe preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. In applying the financial reporting framework. the Truslees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are Continually evaluated and are based on historical experien and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the eslimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. Incoming resources Investment income is derived from dividends and interest receivable from investments and is accounted for in the period in which the Irust is entitled to receipt. Interest from income bearing deposit accounts is recorded as and when reiVed only. Resources expended Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. Direct charitable expenditure comprises grants and donations made during the year together with the recognition of rtain commitments made by the Trustees. Governance costs are included within charitable expenditure. These costs relate to the general running of the trust as opposed to the management functions inherent to generating funds. Such costs can include external audit, legal advice and costs associated with constitutional and statutory requirements. Taxation The charity is not subject to any taxes on its charitable activities. Irrecoverable VAT is charged to the Statement of Financial Activities ("SOFA°) when the expenditure to which it relates is incurred and allocated.
Page12 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (continued) ACCOUNTING POLICIES {continued) Fixed asset investments Quoted investments are included at closing mid-market value at the Balance Sheet date. Realised gains and losses on investments are recognised on disposal on investments and any gain or loss on revaluation is taken to the Statement of Financial Activilies (SOFA). The detemiination of any gains and losses is calculated by reference to the value of such assels at the beginning of the accounting period. Mid-market values are provided by independent data feed rather than investment manager valuations. Financial instruments The charity only has financial assets and financial liabilities of a kind thal qualify as basic financial instruments. Basic financial instruments are recognised at transaction value. except where settlement is delayed, in which case the transaction is recognised at the present value of the settlement amount. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Creditors payable within one year Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as expenditure. Creditors payable in more than one year Creditors which fall due for payment greater than one year after the year end are recorded at a net present value with an applicable discount. Any income or expense arising as a result of the discount is recorded through the classification of expenditure to which the original expense was incLJrred. Provisions Provisions are recognised when the charity has an obligation at the Balan Sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated. Grants payable (note 8) are recognised at present value. where settlemenl is due over more than one year at the Balance Sheet date and there are no unfulfilled conditions under the control of the trust thal would pemiit Ihe trust to avoid making the future payment{s), and settlement is probable and the effect of discounting is material. The discount rate used 3% and is regarded by the Trustees as providing the most current available estimate of the cost of money reflecting the time value of money to the trust. Status of Funds The entire resources of the funds are unrestricted and the Trustees have complete discretion for their use in pursuance of the charity's objectives.
Page 13 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (continued) ACCOUNTING POLICIES (continued) Going Concern The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Truslees have considered the level of funds held and the expected level of income and expenditure for twelve months from the date of signing of these financial statements. The forecast income and reserves are sufficient to cover all of the budgeted expenditure to be able to continue as a going concern. The ongoing Conflict in Ukraine and the resulting high energy costs and other cost inflating faclors have affected the global economy. Having considered the contingency plans in place and having reviewed updated cashflow forecasts, the Trustees consider the adoption of the going concem basis in preparing these financial statements continues to be appropriate. Judgements and key sources of estimated uncertainty In preparing these financial statements, the Trustees have to make judgements on how to apply Ihe charity's accounting policies and make estimates about the future. The critical judgements that have been made in arriving at the amounts recognised in the financial statements and the key areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities in the next financial year, are discussed below: Listed investment valuations The charity holds listed investments whose valuations are largely expected to be in line with the relevant stock prices listed on the London Stock Exchange. Liabilities falling due after more than 1 year The Trustees have assumed an applicable discount rate {interest rate) of 30/0 per annum at 5 April 2024 to discount the future cash flows relating to grants payable to the present value. Page 2024 2023 INVESTMENT INCOME Income from UK investments Income from overseas investments Bank deposit interest 174,259 3,540 4,908 149,819 16,684 6,854 £ 182,707 £ 173,357
Page 14 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (continued) Page 2024 2023 CHARITABLE ACTIVITIES Grants - the following grants were paid during the year: Age UK Almeida Theatre Campaign Against Living Miserably (CALM) Cardiac Risk in the Young (CRY) Cherry Trees Countryside Learning Crimestoppers Disability Challengers Disasters Emergency Committee (Ukraine) The Duke of Edinburgh Award Dyscover Ltd Flying Scholarships for Disabled People Horsley, Bookham & Leatherhead Riding for the Disabled Macmillan Cancer Support Maggie's Marie Curie Multiple Sclerosis Trust National Theatre NSPCC Outward Bound Trust Pimlico Opera Princess Alice Hospice Queen Elizabeth Foundation for Disabled People Rainbow Trust Children's Charity Royal Botanical Gardens, Kew Samaritans, Leatherhead Scope Shelter Shooting Star Children's Hospices South East Cancer Help Centre St Giles Trust St Mungo's Surrey Care Trust The Woodland Trust VVWF (UK) Yvonne Arnold Theatre 25,000 35,000 20,000 25.000 35,000 20,000 7.500 10,000 30,000 10,000 20,000 20,000 20,000 10,000 30.000 10,000 20.000 20.000 10,000 12.000 10.000 20,000 25,000 10,000 20,000 25,000 30,000 3,597 50,000 42,000 20.000 15,000 12,000 25.000 15,000 20,000 3,000 50,000 42.000 20,000 15.000 12,000 25,000 15,000 20,000 20,000 35.000 25,000 10,000 15,000 25,000 18.000 20,000 60,000 25,000 10,000 15,000 25,000 18,000 20,000 60,000 20,000 Total grants paid during the year 645,597 709,500 Provision for commitments brought forward (note 8) Provision for commitments carried forward (note 8) 17 17 (623,690> 491.000 (755,690) 623,690 Total grants (carried fomard) 512,907 577.500
Page 15 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (continued) Page 2024 2023 Total grants (brought forward) 512,907 577,500 Support costs Accountancy and administration fees Independent exarnin8r's fee Legal entity identifier (LEI) fee (5 years) Trustee's expenses 17,920 1,860 276 454 20,820 1,800 78 10 Total support costs 20,510 22,708 Total charitable activities £ 533,417 £ 600.208 There are no employees olher than the Trustees, all of whom are unpaid. FIXED ASSET INVESTMENTS At Market Value: Quoled investments within the United Kingdom Quoled investments outside the United Kingdom 10,010,906 417,916 9,251,603 677,539 Total investments under management 10 £ 10.428.822 £ 9,929.142 Net realised investment gains l(losses) Net unrealised investment gainsl(losses) 2.134 728,010 (66.023) (818,457) Net gainl(loss) on investments £ 730,144 £ (884,480) Market value at 6 April 2023 Disposals at carrying value Net investment gainsl(losses) 9,929,142 (230.464) 730,144 11.586,219 (772,597> (884,480) Market Value at 5 April 2024 10 £ 10.428,822 £ 9,929,142 Historical Cost at 5 April 2024 £ 8,006,482 £ 8,084,918 Value of investment holdings HavenRock Fund Schroder Private Equity Fund of Funds IV Schroder Real Estate Fund - Continental Europe Fund 1 10,010,906 417,462 454 9.251,603 672,550 4,989 Investment management fees for the investment assets are deducted directly from the fund value.
Page 16 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 {continued) Page 2024 2023 CASH AT BANK Coutts & Co (Rawlinson & Hunter LLP clients monies) 48,634 303,474 Total cash at bank 10 £ 48,634 £ 303,474 CREDITORS - amounts falling due within one year Grants payable (note 8) Accountancy fees Independent examiner's fees 17 334,000 11,152 1,800 452,000 13,056 1,800 10 £ 346,952 £ 466,856 CREDITORS . amounts falling due after more than one year Grants payable (note 8) 17 £ 157,000 £ 171,690 GRANTS PAYABLE At 5 April 2024, the following grants were committed to be paid in subsequent years Payable within one year Age UK Almeida Theatre Company Limited Campaign Against Living Miserably (CALM) Cherry Trees Countryside Learning Crimestoppers Disability Challengers Flying Scholarships for Disabled People Horsley, Bookham & Leatherhead Riding for the Disabled Macmillan Cancer Support Maggie's National Theatre NSPCC Outward Bound Trust Pimlico Opera Princess Alice Hospice Queen Elizabeth Foundation Rainbow Trust Children's Charity Royal Botanical Gardens, Kew Shooting Star Children's Hospices South East Cancer Help Centre St Giles Trust St Mungo's Surrey Care Trust 25.000 35,000 20,000 10,000 20,000 10,000 30,000 10,000 10,000 20,000 12,000 10,000 20,000 25,000 50,000 42,000 20,000 15,000 12,000 25,000 50,000 12,000 25,000 15.000 15,000 20.000 25,000 10,000 15,000 15,000 25,000 18,000 20,000 254,000 432,000
Page17 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 {continued) Page 2024 2023 GRANTS PAYABLE (continued) Payable within one year (continued) Total grants (from previous page) 254,000 432.000 The Duke of Eéinburgh Award Woodland Trust WWF (UK) 20.000 20,000 60,000 Total grants payable within one year (note 6} 16 334,000 452,000 Payable after more than one year Campaign Against Living Miserably (CALM) Cherry Trees Countryside Foundation for Education Crimestoppers The Duke of Edinburgh Award Flying Scholarships for Disabled People Horsley, Bookham & Leatherhead Riding for the Disabled Macmillan Cancer Support Maggie's National Theatre Outward Bound Trust Pimlico Opera Princess Alice Hospice Queen Elizabeth Foundation for Disabled Rainbow Trust Royal Botanical Gardens. Kew South East Cancer Help Centre St Giles Trust Surrey Care Trust Woodland Trust WWF (UK) 20,000 10,000 30,000 10,000 12,000 25,000 50,000 12.000 25,000 15,000 10,000 15.000 20,000 20,000 60.000 Finance income arising on discount of long term grant commitments (5.310) Total grants payable in more than one year (note 7) 16 157,000 171,690 Total grants payable at 5 April 2024 14 £ 491,000 £ 623.690
Page 18 THE INGRAM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (continued) ULTIMATE CONTROLLING PARTY The ultimate controlling party are the Trustees of the Ingram Trust. 10. RELATED PARTY TRANSACTIONS During the year, Trustees, expenses of £454 (2023 £10) were met in respect of meeting travel osts for Claire mauri (£36) and subsistence costs (£418) paid for by the charily in connection with their Autumn 2023 meeting.