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
ne￿SSary 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 Un￿rtaIntieS 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 re￿iVed 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.