2025-04-05-accounts

The George Cadbury Trust (George, Henry T and Laurence J Cadbury Section)

working name GEORGE CADBURY FUND "B" ACCOUNT

Audited Annual Report and Financial Statements

Year Ended 5 April 2025

Charity No: 1040999

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Report and Financial Statements for the year ended 5 April 2025

Contents

Page:

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Trustees

Mr Tim Cadbury Mr Mark Cadbury Mr Roger VJ Cadbury Mrs A Janie Cadbury Mr Benedict Cadbury

Principal Office

BBO LLP, 2 Snowhill, Birmingham, B4 6GA

Accountants

BDO LLP, 2 Snowhill, Birmingham, B4 6GA

Independent Auditor

R MacLaren, Michael Dufty Partnership Limited, 61 Charlotte Street, The Counting House, Birmingham, B3 1PX

Investment Managers

Evelyn Partners, 14th Floor, 103 Colmore Row, Birmingham, B3 3AJ Bankers Lloyds Bank, University of Birmingham Branch, 142 Edgbaston Park Road, Birmingham, B15 2TY The Charity Bank Limited, Fosse House, 182 High Street, Tonbridge, TN9 1BE

1

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Report of the Trustees for the year ended 5 April 2025

ANNUAL REPORT OF THE TRUSTEES

The Trustees present their annual report covering the Trust’s activities for the year ended 5 April 2025.

HISTORY, OBJECTIVES AND ACTIVITIES OF THE TRUST

The Trust was established under Trust Deeds dated 11 April 1924, 21 January 1952? and 2? January 1952. Additionally there are fourteen subsidiary Trust Deeds up to 30 September 1949, a Settlement dated 9 January 1952, a Deed of Appropriation dated 21 January 1952 and the Trust Deed dated 21 January 1952 mentioned above.

The registered number of the Charity is 1040999.

The objects are summarised as being for or to such charitable objects, purposes, institutions, or societies as the Trustees may in their discretion think fit with no defined beneficial area.

The Trustees have the authority to appoint Trustees.

SUMMARY OF THE ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT

The subscriptions and grants made to charities in the year enable the charity to meet its objectives and to provide benefit to the public.

The Trustees have confirmed that they have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.

MANAGEMENT AND GOVERNANCE ARRANGEMENTS

The names of the Trustees who have acted during the year are set out on page 1.

Trustees meet once a year; sub-committees for investments and administration meet twice a year.

The Trustees are appointed by the Board of Trustees. New Trustees receive copies of all relevant Trust documents and of the Charity Commission guidance. Appropriate training is organised for the Trustees.

The Trust is administered by an administrator who is not a Trustee but who is acting on behalf of the Trustees.

PROCEDURES AND POLICY FOR GRANT MAKING

The policy of the Trustees is to allocate part of the Trust’s annual income by way of annual subscriptions and bursaries. The list is reviewed annually at the AGM, the remaining annual income is available to Trustees to make grants and donations.

ACHIEVEMENTS AND PERFORMANCE OF THE TRUST

During the year charitable grants were made to 81 different charities totalling £341,805 (2024 - £367,550}. The largest grants made were:

£

Cancer Research UK

DEC Middle East Appeal

30,750

25,000

No other grant exceeded £20,000 and a further analysis is given in note 4 on pages 11 to 15 to the financial statements.

The schedule of grants, donations and bursaries is shown on pages 11 to 15.

2

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Report of the Trustees for the year ended 5 April 2025 (continued)

FINANCIAL REVIEW, INVESTMENT POLICY AND RESERVES

These accounts for the year ended 5 April 2025 have been prepared in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice) and comply with the Statement of Recommended Practice (SORP} Accounting and Reporting by Charities FRS102 effective from January 2019. The financial statements are prepared under the historical cost convention.

The investment income for the year was £445,689 (2024: £438,122), this represents an increase of £7,567 (2024: decrease of £2,547) to the previous year.

Management and administration expenses and the investment advisor’s fee for the year amounted to £95,599 (2024: £89,284). The value of the investments of the Trust decreased by £1,045,191 (2024: increased by £1,407,513). Of this amount £751,254 (2024: £113,402) related to realised gains and £1,732,091 (2024: £1,252,107 gain) related to unrealised losses, and the overall deficit for the year of £980,837 (2024: £1,365,509 gain) was deducted from the funds brought forward from the previous year. A proportion of the costs incurred during the year were reimbursed by the investment.

Under the Deed of Trust the Trustees are empowered at their absolute discretion to hold and make investments whether authorised by law for investment of trust monies or not. The Trustees are empowered to use the investments in the same manner as income and there is therefore no fixed endowment fund and no restricted investments.

The investments of the Trust are held in the name of Evelyn Partners Nominees Limited.

Quarterly the Trust’s investment advisors report in detail on the performance of the investments.

During the year the Trust’s investments decreased by 5.6%. (2024: increased by 8.2%)

INVESTMENTS

The investment portfolio provides the income for the Trust's charitable activities. It is under professional investment management. Details of changes in the value of investments are in Note 6 on page 16 and 17 of the accounts.

RISK MANAGEMENT

The Trustees have conducted a risk assessment; evaluation of risk and the overall risk assessment is reviewed regularly. The nature of the Trust's operations, not having obligations to distribute a certain sum each year, means that it is relatively low-risk, in that it can cope with fluctuations in income without compromising its financial stability.

GOING CONCERN

There are no material uncertainties about the Charity's ability to continue as a going concern.

3

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Report of the Trustees for the year ended 5 April 2025 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

«select suitable accounting policies and apply them consistently;

eobserve the methods and principles in the Charities SORP; emake judgements and estimates that are reasonable and prudent;

estate whether applicable accounting standards have been followed, subject to any departures disclosed and expiained in the financial statements; and

«prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES {continued)

The trustees are responsibie for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, 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.

The Trustees for the purpose of charity law who served during the year and up to the date of this report are set out on page 7.

Approved by the Board of Trustees on lo” Nove wes 201k and signed on its behalf by

Mr Benedict Cadbury Trustee

4

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

working name GEORGE CADBURY FUND "B" ACCOUNT

Independent Auditer’s Report for the year ended 5 April 2025

Opinion

We have audited the financial statements of The George Cadbury Trust (George, Henry T and Laurence J Cadbury Section) (the “Charity") for the year ended 5 Aprii 2025 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statement, 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 2025 and of its income and expenditure for the year then ended;

• « have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• « have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International 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 accardance with the ethical requirements that are relevant to our audit of the financial statements in the Uk, including the FRC's Ethical Standard and the provisions available for small entities, 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 bases far 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 or 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 12 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 of 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 the fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

« the information 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 obtained all the information and explanations necessary for the purposes or our audit.

5

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

working name GEORGE CADBURY FUND W "B" WwW ACCOUNT

Independent Auditor’s Report fer the year ended 5 April 2025 (continued)

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, set out on page 4, 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 they 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 statements

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 auditors 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 [SAs (UK) wili 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 could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Charities Act 2011; and

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and considering available audit information.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

• To address the risk of fraud through management bias and override of controls, we:

• : performed analytical procedures to identify any unusual or unexpected relationships; and

• tested journal entries to identify unusual transactions.

• In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• • enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any, Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: fwww.frc.org.uk/auditersresponsibilities]. This description forms part of our auditor's report.

6

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

independent Auditor’s Report for the year ended 5 April 2025 (continued)

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. 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. Ta the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robert MacLaren FCCA (Senior statutory auditor}

for and behalf of Michael Dufty Partnership Limited

Statutory auditors 61 Charlotte Street The Counting House Birmingham B3 1PX

Dated: le [ut as

i

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Statement of Financial Activities for the year ended 5 April 2025

	Notes	2025	2024
		£	£
Income and endowments from
Investments	2	445,689	438,122
Total		445,689	438,122
Expenditure on
Raising funds	3	65,097	60,611
Charitable activities
Activities undertaken	4	341,805	367,550
Support costs	5	7,193	6,733
Other expenditure	5	23,309	21,940
Total		437,404	456,834
Net income/(expenditure) before investment gains/(losses}		8,285	(18,712)
Net unrealised (losses)/gains on investment assets	6	(1,732,09T)	1,252,107
Net (expenditure)/income		(1,723,806)	1,233,395
Other recognised gains
Realised gains on investment assets	6	751,254	113,402
Net movement infunds		(972,552)	1,346,797
Total funds at 6 April 2024		18,755,175	17,408,378
Totalfundsat5April2025	9	17,782,623	18,755,175

All funds are unrestricted and relate to continuing activities.

The notes on pages 10 to 18 form part of these financial statements

8

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Balance Sheet as at 5 April 2025

Notes	Notes	2025		2024
		£	{5	£	Es
Fixed Assets
Investments	6		17,624,689		18,669,880
Current Assets
Debtors	7	26,887		37,734
Cash at bank and in hand		149,141		69,700
		176,028		107,434
Current Liabilities
Creditors: amounts falling due within one year	38	(18,094)		(22,139)
Net current assets			157,934		85,295
Total net assets			17,782,623		18,755,175
Funds
UnrestrictedFunds	9		17,732,623		18,755,175

Approved by the Board of Trustees on 10‘iat November 202. : and signed on its behalf by

Mr Benedict Cadbury Trustee

The notes on pages 10 to 18 form part of these financial statements

9

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

1. Accounting Policies These accounts for the year ended 5 April 2025 have been prepared under Part 8 of the Charities Act 2011 and applicable Regulations.

(a) Accounting convention

These accounts for the year ended 5 April 7025 have been prepared in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice) and comply with the Statement of Recommended Practice (SORP) Accounting and Reporting by charities FRS102 effective from January 2019. The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts.

(b) Fund accounting

Designated funds are amounts which have been put aside out of unrestricted funds as follows:

Investment fund - to provide the income necessary to maintain the Trust’s charitable activities, the Charity requires a significant capital base and the Trustees have maintained an active investment policy in order to provide a degree of stability and certainty in income levels. In the circumstances, the Trustees have created a designated Investment Fund that represents the government stocks and other listed investments held in the Charity’s investment portfolio.

General unrestricted funds - represent unrestricted income, which is expendable at the discretion of the Trustees in the furtherance of the objects of the Charity. Such funds may be held in order to finance both working capital and capital investments.

{c) Incoming resources

All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of UK income tax has or will be made, such income is grossed up for the tax recoverable. Foreign tax repayments are recognised when received.

investment income is accounted for on an accruals basis. Dividends from quoted securities are accrued when the security is quoted ex-div.

(d) Grants

Subscriptions and grants made by the Trust are charged against income as soon as there is a legal or constructive obligation committing the Trust to the expenditure.

(e) Costs of generating funds

The costs of generating funds consist of investment management fees.

(f) Charitable activities

Costs of charitable activities include grants made and an apportionment of overhead (based on time costs incurred} and support costs as shown in note 4 and 5.

{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 relating to statutory audit and legal fees.

10

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND “B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

1 Accounting Policies (continued)

(h) Investments

Listed investments are stated at closing middle market price immediately prior to the end of the financial year. All movements in value are shown in the Statement of Financial Activities.

Realised and unrealised gains and losses are shown separately in the appropriate section of the Statement of Financial Activities.

• (i) Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currency are translated at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2	Investment income	2025	2024
		£	£
	Dividends and interest from quoted investments	442,924	434,892
	interest on cash deposits	2,765	3,230
		445,689	438,122
3.	Raising Funds	2025	2024
		£	£
	Investment management fee	65,097	60,611
4	Grants paid or payable	2025	2024
		E:	£
	£5,000 or over:
	Age UK Coventry and Warwickshire	-	5,000
	Alzheimer's Society	6,000	:
	Anthony Nolan	-	5,000
	ARNI	5,000	5,000
	Asthma UK and British Lung Foundation Partnership	10,000	10,000
	Barnardo's	-	5,000
	Bath Recreation	13,000	19,200
	Birmingham Children's Hospital	5,000	5,000
	Birmingham Opera Company	-	10,000
	CarriedForward	39,000	64,200

11

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

4	Grants paid or payable (continued)	2025	2024
		£	£
	Brought Forward	39,000	64,200
	Birmingham Royal Ballet	-	10,000
	Blood Bikes NICU Support	10,000	11,700
	Blood Cancer UK	11,000	20,000
	Book Trust	-	5,000
	Bournville Parish Church	-	10,000
	Cancer Research UK	30,750	10,000
	Children's Air Ambulance	S	10,000
	CityMusic Foundation	-	10,000
	DEC Middle East Appeal	25,000	“
	English Schools Orchestra & Choir	5,000	-
	Fircroft College	5,000	5,000
	Garden Museum	5,000	:
	Gloucestershire Wildlife Trust	5,000	-
	Home-Start South Warwickshire	8,000	-
	International Rescue Committee	-	40,000
	Island Conservation Society UK	5,000	20,000
	Macmillan Cancer Support	11,330	-
	NEBT	-	5,000
	Northamptonshire Community Foundation	-	10,000
	Northamptonshire Red Cross	a	6,000
	NICU Support Blood Bikes	5,000	-
	Norfolk Wildlife Trust	5,000	-
	Peter Cadbury Charitable Trust	5,000	-
	RNLI	10,500	-
	RVJ Cadbury Charitable Trust (*)	5,000	-
	Salvation Army	:	5,900
	Severn Valley Railway Charitable Trust	-	9,000
	Shelter	-	5,000
	St Francis Church Bournville	12,600	-
	St Michael's Hospice	5,000	-
	§t John Ambulance	-	6,000
	CarriedForward	208,180	231,900

12

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements far the year ended 5 April 2025

4	Grants paid or payable (continued)	2025	2024
		£	£
	Brought Forward	208,180	231,900
	The Royal Horticultural Society	5,000	7,750
	Unicef	-	15,000
	Virginia Reekie Charitable Trust	5,000	5
	Walking With The Wounded	-	7,100
	Warwickshire Wildlife Trust	5,000	=
	West Green House Opera Limited	5,000	=
	Winston's Wish	“	5,000
	Wirral Church's Ark Project	-	5,000
	Wogan Trust	5,000	=
		233,180	271,750
		2025	2024
		E£	£
	£1,000 or over:
	Alzheimer's Society	-	2,000
	Andy's Man Club	1,000	1,000
	Anthony Nolan	4,000	.
	Avoncroft Arts Society	-	3,000
	Barnado’s	2,500	.
	Bath Festivals	1,400	1,400
	Bath Rugby Community Foundation	-	1,000
	BLESMA	1,000	2,000
	Book Trust	3,000	=
	Brain Research UK	1,000	:
	Brain Tumour Research	3,000	3,000
	Canine Partners	-	1,000
	Carers UK - Carers UK	2,000	-
	Charlie Waller Trust	1,000	2,000
	Children's AirAmbulance	4,000	-
	City of Birmingham Symphony Orchestra	2,000	S
	Epiphany Trust	2,000	-
	Feedback Madagascar	1,000	1,500
	Firefly International - Firefly International	2,000	-
	Frontier Conservation & Education Fund	3,000	-
	Game & Wildlife Conservation Trust	-	2,500
	CarriedForward	33,900	21,900

13

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 Apri! 2025

4	Grants paid or payable (continued)	2025	2024
		£	£
	Brought Forward	33,900	21,900
	Gloucestershire Wildlife Trust	-	2,000
	GOSH	1,000	-
	Hamble Lifeboat Limited	1,000	-
	Hampshire & IOW Air Ambulance	-	2,000
	Harry's Hydro Appeal	-	1,000
	Holmewcood Animal Rescue	2,000	-
	IFAW	1,000	-
	Institute of Cancer Research	2,000	-
	Island Conservation Society UK	-	-
	James’ Place	2,000	3,000
	Lord Leycester Hospital	=	2,000
	Macmillan Cancer Support	;	2,000
	Marie Curie	1,500	-
	Medical Detection Dogs	-	1,000
	Mentoring Plus B&NES	2,000	1,000
	Movember Europe	1,000	-
	NADIYA	-	1,000
	National Youth Orchestra of Great Britain	1,000	-
	NSPCC	3,500	3,500
	Pelican Cancer Foundation	-	2,000
	Peter Cadbury Charitable Trust	-	3,000
	Peterborough Cathedral Chaper (AFU)	1,000	-
	Pick Ups For Peace	1,000	-
	Rainbow Trust	=	2,000
	Reeds School Charity Account	2,000	-
	RoadPeace	2,000	-
	Royal Hospital for Neuro Disability	-	2,000
	RVJ Cadbury Charitable Trust (*)	=	3,000
	Safe Haven for Donkeys	:	1,600
	Save The Children	2,500	-
	Second Chance Animal Rescue	-	4,000
	Shelter	4,000	-
	Shipwrecked Mariners Society	2,000	3,000
	Smile Train	1,000	3,500
	Somer Valley Education Trust	2,000	-
	SSAFA	2,000	2,000
	CarriedForward	71,400	62,900

14

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

4	Grants paid or payabie (continued)	2025	2024
		£	£
	Brought Forward	71,400	62,900
	St Michael's Hospice	-	3,000
	Supporting Wounded Veterans	2,000	2,400
	Tall Ships Youth Trust	2,000	:
	The Bower Trust	-	3,000
	The Brooke Hospital for Animals	:	2,000
	The Camrose Centre Basingstoke	-	2,000
	The Country Food Trust	2,000	=
	The Fisherman's Mission	1,000	1,000
	The Heather Trust	2,000	-
	The Lunar Society	3,000	=
	The Mark Davies Injured Riders Fund	3,000	s
	The Outward Bound Trust	4,000	4,000
	The Royal Hussars Museum	1,000	si
	The Royal Marsden Cancer Charity	-	3,000
	The Trussell Trust	4,000	2
	The Wave Project	4,000	1,000
	The Youth Adventure Trust	1,000	-
	Virginia Reekie Charitable Trust	“	3,000
	War Memorials Trust	2,000	1,500
	Warwickshire Wildlife Trust	-	2,000
	Wiltshire AirAmbulance	-	2,000
	Winston's Wish	4,000	=
	Wogan Trust	-	2,000
	Woodgreen Pets Charity	1,000	1,000
	WWF-UK	2,000	B
		106,400	95,800
	£999 and under	2,225	1,500
		341,805	369,050

(*) - These Charitable Trusts are considered to be related parties by virtue of them having one or more common Trustees. Roger VJ Cadbury is a Trustee of the R V J Cadbury Charitable Trust. The sum total of transactions with the related party are as described above. There were no balances due to or from the related parties at the year end.

All grants made in the year were to institutions. None were made to individuals (2024 - none).

15

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

5 Support Costs

Basis of

	Basis of
	apportionment	Costs	of grant making		Governance
		2025		2024	2025	2024
		£		£	£	£
Auditors’ remuneration	0:1		-	-	1,728	1,740
Otherexpenses	1:3	7,193		6,733	217,581	20,200
		7,193		6,733	23,309	21,940

The cost of grant making and governance costs are apportioned based on time costs incurred.

The Charity has no employees (2024 - none),

No Trustee, or person related or connected to them, has received any emoluments or expenses from the charity during the year or preceding years.

6	Investments	2025			2024
		£	£	£		£
	Market value at 6 April 2024		18,571,749			16,956,506
	Acquisition cost in the year	1,666,530		1,480,643
	Proceeds from disposals in the year	(1,724,618)		(1,230,909)
			(58,088)			249,734
	Realised gains on disposals	751,254		113,402
	Unrealised investment gains	(1,732,091)		4,252,107
			(980,837)			1,365,509
	Market value at 5 April 2025		47,532,824			18,571,749
	Cash held within the investment portfolio		91,865			98,131
	Total value of portfolio at 5 April 2025		17,624,689			18,669,880
	Historicalcostat5April2025		15,220,106			14,526,940

16

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name

GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 Aprii 2025

6	Investments (continued)	2025
		£	£
	At 5 April 2025 the market value is divided:	£	%
	Bonds - 15 holdings	2,862,402		16.2%
	Alternatives & Multi-Asset - 11 holdings	3,416,571		19.4%
	Other Instruments - 7 holding	104,071		0.6%
	UK Equities - 12 holdings	3,871,416		22.0%
	USA - 9 holdings	4,521,853		25.7%
	Europe - 3 holdings	1,351,218		74%
	Japan - 1 holding	199,400		1.1%
	Pacific Basin ex Japan - 1 holding	279,793		1.6%
	Emerging Markets - 1 holding	89,010		0.5%
	Rest of the World - 2 holdings	837,090		4.7%
		17,532,824		99.5%
	Uninvested cash capital	91,865		0.5%
		17,624,689		100%

There were no investments in the portfolio which exceeded 5%.

7	Debtors	2025	2024
		£	£
	Accrued investment income	26,887	37,734
8	Creditors: Amounts falling due within one year	2025	2024
		i	E£
	Investment management fee	16,444	15,639
	Grants	-	5,000
	Auditors’ fee	1,650	1,500
		18,094	22,139

17

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

working name GEORGE CADBURY FUND "B" ACCOUNT

Notes to the financial statements for the year ended 5 April 2025

9 Statement of movement on unrestricted funds

			Expenditure
	Balance as at 6		Gains and		Balance as at 5
	April 2024	Income	(Losses)	Transfers	April 2025
	E	£	£	£	£
Designated fund:
Investment fund	18,669,886	-	-	{1,045,191}	17,624,689
General fund	85,295	445,689	(1,418,241)	7,045,191	157,934
Totalunrestrictedfunds	18,755,175	445,689	(1,418,241)	-	17,782,623

Transfers were made between the investment fund and general fund in order to equate the investment fund value with the value of the investment portfolio.

10 Taxation

George Cadbury Fund ‘B’ Account is a registered charity and, as such is exempt from tax on income and gains falling within section 505 ICTA88 or section 256 TCGA92 to the extent that they are applied to its charitable objectives.

11 Related parties

In the year, other than those referred to in note 4, there have been no transactions with persons or entities that are closely connected to the charity or its Trustees.

12 Trustees’ remuneration and benefits

None of the Trustees have been paid any remuneration or received any other benefits from the Charity.

13 Trustees’ expenses

No trustees’ expenses were incurred in the year ended 5 April 2025 (2024 - Nil}.

14 Controlling party

Throughout the current and previous period, the charity was not under the control of any single individual or entity.

18