ST. KILDA TRUST
Charity No.. 1041904
REPORT AND FINANCIAL STATEMENTS
FOR THE Y&4R ENDED
31ST MARCH 2025

ST. KILDA TRUST
CONTENTS
PAGE
Legal and Administrative Information
Report of the Trustees
Independent Examiners, Report
Statement of Financial Activth'es
Balan￿ Sheet
Notes fomiing part of the Financial Statements
7-10

ST. KILDA TRUST
Legal and Administrative Infomiation
Trustees
lain MacLeod Esq
Richard Pclton Esq
Chiistopher White Esq
Principal Office
Denbies Wirje Estate
Bradley Lane
Dorking
Surrey, RH5 6AA
Independent Examiners
Moore Kingston Smith LLP
8etchworth House
57-65 Station Road
Redhill
Surrey, RH11DL
Bankers
Bank of Scotland
Lloyds Banking Group
75 George Street
Edinburgh. EH2 3EW
Solicitors
Irwin Mitchell LLP
Manor Royal
Crawley
West Sussex. RH10 9LU
Survèyors
Stiles Harold Williams Partnership LLP
Lees House
21-33 Dyke Road
Brighton
East Sussex
BN13FE
Inveslment Managers
TrifjilyBridge
3rd Floor, 1 Old Market Avenue
Chichester
West Sussex, P019 1SP
Page One

ST. KILDA TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH
2025
The Iwstees present their report along with ts ffinancial statements of the charity for the year ended 31 March 2025. The
Trustees have adopted the provisions of the Ststemerrt of Recommended Practice applicable to charities preparing their
accounts in accordants wlh the Financial Rewrting Standard applicable in the UK and Republic of Ireland.
Constitution and objects
Th8 St. Kilda Trust was conslitLrted under a Declaration of Trust dated 1st November 1994 as amended by
Supplemental Deed dated 14th November 1994 aFMJ a Deed of Vanation dated 1 September 2015. The Trust is a registered
charity in England and Wales. charity no: 1tH1904.
The objects of the charity are lo relieve ssckness and weservè heafth in the Epsom Healthcare Trust Area in any way which
the trustees shall deern appropriate induding bul not limited to:
a. The provision of accommodation and amenity buildings for use of staff and students of Epsom General Hospital. and
b. The purchase, construction. extension andlor iefurbishment of buildings for the provision of hospital and medical facilities.
The charity works dosely with Epsom and St. Heller NHS Trust and other local and national charities.
Public Benefit
We have referred to the guidan￿ in the Charity Cornmission's general guidan￿ on Public Benefft when reviewing
our aims and objectives and in planning our future adivities. In partiC￿lar. the Trustees consider how planned
activities will contribute to the aims and objectives they have sel.
Organisation
lain MacLeod. Richard Potton. and ChTislopher White (Chair). were the trustees of the charty as at 31 March 2025.
Future trustees are appointed by a resolulion of the trustees passed at a special meeting.
Achievements and perforniance
The previously exchanged conditional ￿ntract for the sale and leaseback of the property ￿Mains. with the lease to be
completed pursuant to the contrad once development works have been completed by the developer who acquires the
property. Th8 sale of the property viill result in inueased reserves for Ihe Ch￿lty.
Overall, with its healthy levels of reserves, the charity is well-placed to withsland any dedine in income and to continue
its charitable aclivities for the foreseeable fijture.
Financial Revlew and ResaNes Policy
The charity's income increased this year to £141.959 (2024= £130,268). After operating expenditure and unrealised
inveslmenl gains, the charitys net expenditure for the year was £2,687 (2024.. net expenditure of £253). At year end,
reserves were £5,013,95312024.' £5.019.412). Reserves comprise £5.008,(K7 unrestricted funds and £5,886
designated funds. A significant part of the unrestricted reseNes is represented by Ihe freehold propety of £3.463.971
{2024'. £3,588.156).
The Trustees continued work during the year progressing the redevelopment project wTrth the devdoper and tenant for
the futur8 benefit of the Trust and the tenant. The Tnjstees aclively consider way5 in which the Trust's r8setves may be
used. In accordan￿ with the Trust's objects, the Trustees will:.
1. Continue to build up res8Nes to enable the Trust to take opportunities to contribule lo the long tem sustainability of
the provision of health services within the Eps(xn Healthcare Area:
2. Pay out such sums from the reserves as are appropriate for specific projects.
Page Two

ST. KILDA TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH
2025
Trustees, responsibilities In relation to the financial statements
The Trustées are responsible for preparing the Trustees. Report and the financial statement5 in acxordance wtlh
applicable law and United Kingdom Accountmig Standards {Uniled Kingdom Generally Accepted Accounting Practice)
including FRS 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland '.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for
each financial year vthich give a true and fair view of the state of the affairs of the chaiity and of Ihe incoming
resources and application of resources of the charity for that period. In preparing these financial slatements,
Ihe ttustees are required to..
select suitable accounting policies and then apF4y them consistently,.
comply wth applicable accounting standards. induding FRS 102.subject to any material departures disclosed
and explained in the financ4al statements.,
state whether a Statement of Recommended Practice (SORP) appSies and has been followed, subjed to
any material departures which are Èxplained in the financial statements
make judgements and estimates that are reasonable and pnjdent"
prepare the financial statements on the going COn￿M basis unless it is inappropriate to presume that
the charity will continue in busine5S.
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 Ihat the ffinancial statements comply with
the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed.
They are also responsible for safeguarding the assets of the chatity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities_
The trustees are responsible for Ihe maintenance and integFity of the corporate and ffinanoal information included on
the charity's website Legislation in the United Kingdom goveming the preparation and disseminalion
of financial statements may differ from legislation in other jurisdictions.
Independent examiners
Moore Kingslon Smith LLP have indicated their wAlingnes5 to conts'nue in office and it is proposed that they be
r&appointed independent examiners for the ensuing year.
Approved by the trustees on lo
/,.fvs
and signed on their behaff by..
Christopher White, Chairnian
Page Three

Independent Examiner's Report to the Trustees of
ST. KILDA TRUST
I report to the charity Irustees on my examination of Ihe accounts of the Charity for the year ended 31 March
2025.
Responsibllities of Trustses and Examlner
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of
the Charilies Act 2011 (The 2011 Art)
I report in respect of my examination of the charity's accounts carried out under the Act under section 145. In
carrying out my examination I have followed the Directions given by the Charity Commission under section
145{5) (b) of the Ad.
Ind8pendent Exarninerfs Staternent
I have completed my examination. I confirm that no matters have come to my attention in conneclion with the
examination giving me cause to believe-
1}
2)
3)
accounting records were not kept in ￿SpeCt of the Trust as required by section 130 of the Act" or
the accounts do not xcord wtth those ￿cords. or
the accounts do not comply with the applicable requirements conceming the fom and content of
accounts sel out in the Charitses (Accwnts and Reports) Regulats'ons 2008 other than any
requirement Ihat the accounts give a true and fair view which is not a matter (xjnsidered as part
of an independent examination.
I have no concems 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.
1011112025
lan Matthews FCA Moore Kingston Smith LLP
Chartered Accountants
Date".
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Page Four

ST. KILDA TRUST
Statement of Financial Activities
For the Year Ended 31st March 2025
Notes
2025
2024
INCOME
Investment income
Incorne from managed fund
Bank interest
26.538
15,421
41,959
24,126
6,142
30,268
Charitable activities
Rentsl income
100.000
100.000
100,000
100,000
Total Operating Income
141.959
130,268
EXPENDITURE
Charitable actlvltles
144.646
130,521
Total Operating Expenditure
144.646
130,521
Net lexpenditurellincome before gainsluosses) on
invesknents
(2.68n
(253)
UnrealisÈd fair valua gainsl(losses) on irwestments
(2.772)
15,072
Net lexpenditure}fincome
(5,459)
14,819
Total funds brought forward at
1 st April 2024
5,019.412
5.004,593
Total funds carried forward at
31 st March 2025
5.013.953
5,019,412
The abovè funds are unrestricted funds.
Page Five

ST. KILDA TRUST
Balance Sheet as at 31st March 2025
2025
2024
Fixed Assets
Tangible Fixed Assets
Investments
3,463.971
927.115
4.391.086
3,558.156
910.177
4,468.333
Current Assets
Debtors
Investments
Cash at Bank
211
259.954
396,023
656,188
250.219
335,206
585,633
Llabilities
Creditors.. Amounts falling due
within one year
33.320
34,554)
Net Current Assets
622.868
551.079
Total Net Assets
5.013.953
5.019,412
Total Funds
Unrèstricted general funds
Unrestricted
Designated
5,008.067
5.886
5.013.953
5.017,901
1.511
5.01g.412
Authorised and approved by the Board of Trustees on l oli¥
and signed on its behalf by Christopher White
hristopher Whlte. Chaimian
Page Six

ST. KILDA TRUST
Notes fomiing part of the Financial Statements
For the Year Ended 31st March 2025
Accounting Pollcies
(a)
Accounting convention
The finanaal statements have been prepared in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) The charity is a public beneffii entity for
the putposes of FRS 102 and a registered charity and therefore has also prepared its finanraal
staternenls in accordance wth the Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Finanual Reporting Standard applicable In the UK
and Republic of Ireland fflie FRS 102 Charities SORP) and Charities Act 2011.
The financial statements are prepared in slerfing. which is the functional currency of the charity
Monetsry amounts in the fjnancial statements are rounded to the nearest pound.
(b)
Tangible fixed assets and depreciation
Freehold land and buildings are stated at their deemed cL)st being the valuation at the dats of transition
to FRS 102. The charity previously adopted a poliw of depreciating freehold buildings and they were
stated at cost less depreciation. The charity has adopted the transilion exemption under FRS 102 and
has elected to revalue freehold land and buildifigs at 1 April 2014 and use this valuation as deemed cost.
Depreciation on fixed assets is provided at rates estimated to vKite off costs, less estimated residual
value of each asset over its expected usefijl life, as follows..
Freehold Land
Freehold Buildings
Straight line over 35 years
(c)
Fixèd asset investments
Investments are initially recognised at their transaction value and subsequently remeasured at their fair
value at the balance sheet dale. The Statement of Finanoal Activtties includes the net fair value gains on
revaluation at the year end.
Id)
Incoming resources
All incoming resources a￿ included in the statement of financial activities when Ihe charity is entitled
to the income.
(e)
Resources expended
Expenditure is included on an accnjals basis. Resources expended indudes all 8xpendtlure on activities
in fiJrtheran¢e of the charity's objects, expenditure on costs incurred in support of the charitable activities
undertaken by the charity and expenditure relating to meeting the statutory requirements of the charity.
ifj
Critical Accounting Estimates and Areas of Judgement
In preparing the financial statements tt is necessary to make cErtain judgements, estimates and
assumptions that affect the amounts recognised in the financial stalernents The following judgernents
and estimates are considered by the trustees to have the most significant effect on amounls
recognised in the financial statements.
to the income.
Freehold Property
As explained in note {b). the freehold property was revalued al 1 April 2014 to £4,500,000.
No separate value can be attributed to the land element of this value. The trustees have estimated that
land accounts for 27 % of the £4.500.000 and no depreciaton has been charged on this elernent.
Depreciation policy
As at 1 April 2014. the trustees estimated the remaining useful economic life of the freehold property to
be 35 years.
Page Seven

ST. KILDA TRUST
Notes forming part of the Financial Statements
For the Year Ended 31st March 2025
Accounting Policies (continued
Ig)
Financial instruments
Financial instruments receivable or payable within one year of the reporting date are carried at their
transaction price.
Cash and cash equivalents are basic financial assets and indude cash in hand, deposits held at call
with banks. other short-temi liwid investments vriih original maturities of three months or less.
{h)
Cash Flow Ststement
The charity has taken the exemption &iailable in paragraph 7.1B of FRS102 and has not prepared
a cash flow statement.
Charitable actlvltles
2025
2024
Cost of provision of accommodation:
Depreciation
Red78rged insurance
Note 3
94.185
94.185
Other expenditure:
Independent Examination fees
Legal and professional fees
Trustee indemnty insurance
Bank charges
Investment management fees
Grants
4.500
7,660
3.780
9.965
590
217
7.470
14.314
170
6,862
30,625
144,646
130,521
Analysis of Grants".
The Molor Neurone Disease Association
Amber Bee
Emerge Advocacy
Suffey & Borders NHS Foundation Trust
625
2,000
14,000
14,000
30,625
314
14,000
14,314
No trustees received any remuneration for their services as trustees during the year or were reimbursed for
expenditure. The charity has no employees and the trustees are the key management personnel.
Tangible Flxed Assets
2025
Freehold Property
Deemed cost at 1st April 2024 and at 31 sl March 2025
4,500,000
Depreciation
At 1st April 2024
Charge for the year
941.844
94.185
At 31 st March 2024
1.036.029
Net Book Value
At 31 st March 2025
3,463.971
At 31st Marth 2024
3,558.156
In August 2019. an independent valuation of the property was obtained and this valued the property at
£5_085m on an existing use basis.
Page Eight

ST. KILDA TRUST
Notes forming part of the Financial Statements
For the Year Ended 31st March 2025
4. Inve8tment8
2025
2024
Fair value at 1 April 2024
910,177
878.361
Inveslment income added to managed funds
26,538
24.126
Management fees deducted from managed fijnds
(6,828)
(7.382)
Un￿all5ed fair value gainslllosses) cffl inveslments
(2,772)
15.072
Fair value at 31 Marth 2025
927.115
910,177
Cash held within porttolios
Listed investments
21,922
905.193
23.924
886,253
927.115
910,177
The histori¢ cost of the investrnent portk)lio is £852.476 (2024: £852.476).
5. Debtors
2025
2024
Prepayments and accJued inccKne
211
208
211
208
6. Current asset invesbnonts
2025
2024
Qlher investments
259,954
250.219
259,954
250,219
Other investments represent amounts invested in short term deposits Ihat have an original maturrty date
of more than 90 days. The interest rate is 3.460/0.
7. Creditovts: Amounts falling due wlthin one year
2025
2024
Trade creditors
Accrued expenses
Deferred Income
10.243
23.077
11.477
23.077
33,320
34,554
Page Nine

ST. KILDA TRUST
Notes fomiing part of the Financial Statements
For the Year Ended 31st March 2025
8. Funds
Fair Value
Gainsl
Losses
Incomin
oin
Resources Resources
31 hlarch
2025
2024
Transfers
Unrestrided Funds
Designated Funds
5,017,901
1,511
5.019.412
141,959
(144.021)
(625)
(144,646)
(2.772)
(5.000)
5,000
5,008,067
5,886
5,013,953
141.959
{2,772
Unrestricted funds comprise those funds which the trustees are free to use in accordan￿ with the
charitable objeds.
Designated funds comprise those funds set aside by the trustees for use by the East Surrey branth of the Motor
Neurone Disease charity which are to be used on a case by case basis to fund quality of lrfe requests.
9. Related party transactions
In 2024 the charity entered into a service agre8ment wilh Denbies Wine Estste Ltd of whom hvo truslees are
diredors, to provide accounting and administrats.ve functions for the charity which they are charging at cost. The
service agreement and all invoices are approved by an independent Trustee. Three extemal quotes were received
but this was the lowest cost of them all, the Ixjsts totslled £7,660 fcK the year ended 31 Marth 2025.
Page Ten