The Annie Tranmer Charitable Trust
Annual Report and Financial Statements
Year Ended 5 April 2024
THE ANNIE TRANMER CHARITABLE TRUST Annual report and financial statements for the year ended 5 April 2024
Contents
Page: 2 Report of the trustees 4 Independent examiner’s report 5 Statement of financial activities 6 Balance sheet 7 Notes forming part of the financial statements __________________ Trustees VA Lewis NJ Bonham-Carter FP Grieve ME Allen H Wykes-Sneyd C Bickers
Trust Administrator
Mrs A Williams, 55 Dobbs Lane, Kesgrave, Ipswich, Suffolk IP5 2QA
Registered charity number 1044231 Independent Examiner
DJ Franklin BA FCA, Franklins, Chartered Accountants, Burcott, School Lane, Forward Green, Earl Stonham, Suffolk, IP14 5EL
Solicitors
Clapham and Collinge, St Catherine’s House, All Saints Green, Norwich NR1 3GA
Investment managers Evelyn Partners, 45 Gresham Street, London, EC2V 7BG Bankers Lloyds Bank Plc, PO Box 4, 13 Cornhill, Ipswich, Suffolk IP1 1DG
THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2024
The trustees present their annual report and financial statements of the charity for the year ended 5[th] April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011, Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014.
Status and administration
The Charity is constituted by a Trust Deed dated 4 April 1989 annexed to the will of Annie Tranmer, which was proved at Ipswich District Probate Registry on 19 May 1994, and a Deed of Appointment dated 15 December 1994. The Charity is registered under the Charities Act 1960 (Registered Charity number 1044231), completing registration on 16 February 1995.
Trustees
The trustees of the charity who served throughout the year were:
FP Grieve (6 September 2010) - Chair of Trustees VA Lewis (15 December 1994) NJ Bonham-Carter (23 August 2007) ME Allen (4 January 2016) H Wykes-Sneyd (8 October 2018) C Bickers (11 January 2023)
The trustees were appointed by the Deeds of Appointment dated as shown above.
Objectives and activities for the public benefit
The trustees confirm that they have referred to the guidance contained 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. The objectives of the Charity in the Deed of Appointment are:
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(i) To advance charitable purposes by the making of grants to Registered Charities based in Suffolk and adjacent counties.
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(ii) To advance charitable purposes by the making of grants to National Charities having regard to the express wishes of Mrs Tranmer during her lifetime.
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(iii) The advancement of education and historical research relating to the national monument known as the Sutton Hoo burial site and the Sutton Hoo estate.
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(iv) To protect and preserve for the benefit of the public the Sutton Hoo burial site and such other features of the Sutton Hoo estate as are of special interest; (This objective now achieved)
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(v) To further the education of children and young persons in the County of Suffolk. To educate and assist young persons through their leisure time activities so to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and their conditions of life may be improved; and
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(vi) Generally, for such good purposes or objects which are from time to time recognised as exclusively charitable according to the law of England and Wales as the trustees in their absolute discretion think fit.
Organisation
The trustees determine the general policy of the charity. Decisions made by Trustees are on a unanimous basis.
1
THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2024 (Continued)
Review of activities
The trustees made grants totalling £145,531 during the year ended 5 April 2024 (2023: £134,742), all in accordance with the Trust’s charitable objectives. The trustees consider that the grants paid in the year have met with the ongoing charitable objectives of the Trust.
The charity received investment income of £158,599 (2023: £155,811). £145,531 (2023: £134.742) was spent on grants, £16,707 (2023: £16,152) to cover support costs, of which £7,135 (2023: £6,860) was for governance costs. Investment management fees were £24,157 (2023: £24,475), resulting in, overall, net expenditure, before net gains on investment assets of £27,796 (2023: £19,558)
At 5 April 2024 the market value of the Trust’s investments was £3,881,540 (2023: £3,816,971) giving a net increase in the year of £63,789 (2023: £168,388 decrease). After the net expenditure of £27,796 (2023: £19,558) referred to above, there was a net increase in funds of £35,993 (2023: £187,946 decrease)
Grant making policy
The charity receives applications for funding from institutions and individuals. The trustees review the applications against the objectives of the charity before deciding whether or not to authorise the application and make the grant.
Investment powers and policy
Trustees are governed by the Deed of Appointment which permits any investment comprised in the Trust fund to be held in the name of any clearing bank and trust corporation of any stockbroking company, which is a member of the Stock Exchange (or subsidiary of such a stockbroking company) as nominee for the Trustees and to pay any such nominee reasonable and proper remuneration for acting as such.
The charity aims to maintain investment income at constant levels to allow a similar level of grant funding year after year. In the year this was achieved with investment income of £158,599 (2023: £155,811) and a return on the portfolio of 4.1% (2023: 4.1%).
Reserves policy
It is the trustees' aim to maintain reserves in real terms so as to produce an income from investments sufficient to continue to fund grant awards at the current annual level. The Trustees consider that this current level of reserves is sufficient for this purpose in normal economic conditions.
Risk management policy
The trustees have conducted a review of the major risks to which the charity is exposed and systems are in place to mitigate these risks.
Trustee recruitment, induction and training
In the event of Trustees needing to make the appointment of a new trustee they would seek to appoint a member of the legal or medical professions and, or a suitable lay person. The trustees consider that as most of the funds distributed are to other charities and local authority bodies this experience would be appropriate.
2
THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2024 (Continued)
The financial activities
The financial activities of the charity are shown in the Statement of Financial Activities on page 5.
Plans for the future
The trustees plan to continue to provide grants in accordance with the charity’s objectives at a similar relationship to investment income.
Statement of trustees’ responsibilities
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’s financial activities during the year and of its financial position at the end of the year.
In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently
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make reasonable and prudent judgements and estimates
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state whether accounting standards and the statement of recommended practice have been followed, and to disclose and explain any departures therefrom
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prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping 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 financial statements comply with the Charities Act 2011. 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.
Approved by the Board of Trustees on 3 July 2024
F P Grieve
Chair of Trustees
3
THE ANNIE TRANMER CHARITABLE TRUST INDEPENDENT EXAMINER’S REPORT
I report on the accounts of the Annie Tranmer Charitable Trust for the year ended 5 April 2024, which are set out on pages 5 to 12.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out below.
Independent examiner’s statements
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting
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requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
DJ Franklin BA FCA
ON BEHALF OF Franklins Chartered Accountants Burcott School Lane Forward Green Suffolk IP14 5EL 3 July 2024 4
THE ANNIE TRANMER CHARITABLE TRUST Statement of financial activities for the year ended 5 April 2024
| Note Income and endowments Investment income 2 Total income Expenditure Charitable activities 3 Raising funds 4 Total expenditure Net (expenditure)/income before losses/gains on investments Net gains /(losses) on investment assets 5 Net increase /(decrease) in funds Fund balances at 6 April 2023 Fund balances at 5 April 2024 |
Unrestricted funds 2024 2023 £ £ 158,599 155,811 158,599 155,811 162,238 150,894 24,157 24,475 186,395 175,369 (27,796) (19,558) 63,789 (168,388) 35,993 (187,946) 3,898,695 4,086,641 3,934,688 3,898,695 |
|---|---|
All amounts relate to continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
5
THE ANNIE TRANMER CHARITABLE TRUST Balance sheet at 5 April 2024
| Note Fixed assets Investments 5 Current assets Debtors 6 Cash at bank Liabilities: Creditors falling due within one year 7 Net current assets Net assets Funds Unrestricted – General |
2024 £ £ 3,881,540 3,755 120,044 123,799 (70,651) 53,148 3,934,688 3,934,688 3,934,688 |
2023 £ £ 3,816,971 1,870 93,264 95,134 (13,410) 81,724 3,898,695 3,898,695 3,898,695 |
2023 £ £ 3,816,971 1,870 93,264 95,134 (13,410) 81,724 3,898,695 3,898,695 3,898,695 |
|---|---|---|---|
| 3,898,695 | |||
| 3,898,695 | |||
| 3,898,695 |
Approved and authorised for issue by the Board of Trustees on 3 July 2024
F P Grieve
Chair of Trustees
The notes on pages 7 to 13 form part of these financial statements.
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THE ANNIE TRANMER CHARITABLE TRUST Notes forming part of the financial statements for the year ended 5 April 2024
1 Accounting policies
Basis of preparation and assessment of going concern
The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value, with the exception of investments which are stated at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and the UK Generally Accepted Practice as it applies from 1 January 2015.
The trust constitutes a public benefit entity as defined by FRS102.
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
The following principal accounting policies have been applied.
Income
Income from investments is recorded in the financial statements when due.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to expenditure. All expenditure, except grants, is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants payable are recorded in the financial statements in the year in which they are paid. All other expenditure is accounted for on an accruals basis.
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).
Fund accounting
Unrestricted funds comprise accumulated surpluses and deficits. They are available for use at the discretion of the trustees in furtherance of the charitable trust’s objectives. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for specific purposes.
Taxation
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Support and governance costs
All support and governance costs were allocated to charitable activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the statutory examination and legal fees.
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THE ANNIE TRANMER CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
| 2 Investment income Equities Bonds Property Bank interest 3 Charitable activities Grants payable to individuals (note 3b) Grants payable to institutions (note 3c) Support costs Secretarial costs Travel expenses Postage, printing and stationery Trustee’s insurance Trustees’ expenses Governance costs (note 3a) a) Governance costs Independent examination Other accounting and taxation services Other charges b) Grants payable to individuals 18 individual grants (2023: 19) totalling: |
2024 £ 130,729 23,856 2,580 _ 157,165 1,434 158,599 2024 £ 15,685 129,846 145,531 8,430 23 271 413 435 7,135 16,707 162,238 2,750 4,350 35 7,135 15,685 |
2023 £ 134,642 18,310 2,385 _ 155,337 474 155,811 2023 £ 13,402 121,340 134,742 8,019 23 346 454 450 6,860 16,152 150,894 2,600 4,225 35 6,860 13,402 |
|---|---|---|
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THE ANNIE TRANMER CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
3 Charitable activities (Continued)
| haritable activities(Continued) | ||
|---|---|---|
| 2024 | 2023 | |
| c) Grants payable to institutions | £ | £ |
| ABF The Soldiers Charity | 2,000 | - |
| ADFAM National | 2,000 | - |
| Angling 4 Success | - | - |
| Anthony Nolan Trust | - | 1,000 |
| Aspirations Program | 2,000 | 2,000 |
| Asthma and Lung UK | 2,000 | 2,000 |
| Asthma Relief for Suffolk | 950 | 950 |
| AT Society | 1,000 | - |
| Blind Veterans UK | 1,000 | 1,000 |
| Bone Cancer Research Trust | - | 1,000 |
| Brave Futures | 2,000 | - |
| Break | 2,000 | - |
| British Dyslexics | - | 1,000 |
| British Epilepsy Action | - | 1,000 |
| British Limbless | 1,000 | 1,000 |
| Britten Pears Arts | 2,000 | - |
| Buckingham Emergency Food Appeal | 600 | - |
| Cambridge Science Centre | - | 500 |
| Cancer Campaign in Suffolk | - | 1,000 |
| Care Network Cambridge | - | 500 |
| Carers UK | - | 1,000 |
| Caring together | 2,000 | - |
| CF Dream Holidays | 1,000 | - |
| CHF 5 | 1,000 | - |
| Cavell Nurses Trust | 1,000 | 1,000 |
| Child Autism UK | - | 1,000 |
| Child Brain Injury | 750 | - |
| Childhood First | 1,000 | - |
| Children’s Heart Foundation | - | 500 |
| Combat Stress | 1,000 | - |
| Community Safety | 1,000 | - |
| Chron’s & Colitis | 500 | - |
| Colchester & Ipswich Hospitals Charity | - | 1,000 |
| Cruse Bereavement Support | - | 2,000 |
| Deafblind UK | 1,000 | 1,000 |
| Deben District Scout Council | - | 500 |
| Disability Advice Service (East Suffolk) | 1,000 | 1,000 |
| Disability Advice Service (North East Suffolk) | - | 1,200 |
| Douglas Bader Foundation | - | 500 |
| East Anglian Air Ambulance | 6,000 | 5,000 |
| East Anglian Children’s Hospice | 750 | 1,000 |
| Ely Cathedral | 1,000 | - |
| ENYP | 1,000 | - |
| Excelsior Trust | 1,000 | - |
| Families in Need | - | 2,000 |
| Family Holiday Charity | 2,000 | 1,000 |
| Fareshare East Anglia | 2,000 | 2,000 |
| Farleigh Hospice | - | 640 |
| Felixstowe Youth | 1,698 | - |
| Fight Against Blindness | 1,000 | - |
| Framlingham Area Youth Action Partnership | 1,000 | 1,000 |
| Friends of Woodbridge | 1,000 | - |
| Go Beyond | - | 500 |
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THE ANNIE TRANMER CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
3 Charitable activities (Continued)
| 3 Charitable activities(Continued) | ||
|---|---|---|
| 2024 | 2023 | |
| c) Grants payable to institutions (continued) | £ | £ |
| Guide Dogs for the Blind | 1,000 | 500 |
| Handicapped Children’s Action Group | 1,073 | 1,073 |
| Happy Days | 1,009 | 1,009 |
| Heads 2 Minds | 500 | - |
| Home Start in Suffolk | 2,014 | - |
| Horatio’s Garden | - | 1,000 |
| Hour Community | - | 500 |
| Hourglass (Safer Aging) | 1,000 | - |
| INK | 1,000 | - |
| Inspire Suffolk | 2,000 | 2,000 |
| IPSEA | - | 500 |
| Just 42 | 2,000 | - |
| Kids Inspire | - | 1,000 |
| Leeway Domestic Abuse Service | 339 | - |
| Lennox Children’s Cancer Fund | - | 500 |
| Lifelites | - | 500 |
| Listening Books | 750 | 750 |
| Little Heart Matters | 1,000 | 1,000 |
| Living Paintings | - | 500 |
| Lucy Air Ambulance for Children | - | 1,000 |
| MacMillan Cancer Support | 4,000 | 3,000 |
| Maggie’s Cambridge | 1,000 | 1,000 |
| MAGPAS Air Ambulance | - | 1,000 |
| Marie Curie Cancer Care | 4,000 | 3,000 |
| Microphthalmia Anophthalmia & Colahoma Support | - | 1,000 |
| Motor Neurone Disease | 1,000 | 1,000 |
| New Life | 2,000 | - |
| Norfolk Citizens’ Advice | 1,000 | - |
| Ormiston Families Trust | 2,000 | - |
| Our Special Friends | 1,000 | 500 |
| Outreach Youth | - | 648 |
| Parents’ Conciliation Trust | 600 | 750 |
| Pregnancy Expectations | 2,000 | - |
| Prostate Cancer | - | 1,000 |
| RAF Benevolent Fund | 500 | - |
| Rare Chromosome Disorder Support Group | - | 500 |
| Revitalise Respite | 2,079 | 1,386 |
| Riding for the Disabled | 2,000 | - |
| Royal National Lifeboat Institution | 6,000 | 5,000 |
| Rowan Humberstone | 1,000 | - |
| Rural Coffee Caravan | 2,000 | - |
| St Clare Hospice | 750 | 500 |
| St Elizabeth Hospice | 6,000 | 5,000 |
| St Helena Hospice | 2,000 | - |
| SAUKT Fundraising (Salvation Army) | 3,000 | 2,000 |
| Sailors’ Children Society | - | 500 |
| Scotty’s Little Soldiers | 1,000 | - |
| Sense | 1,176 | 1,000 |
| Shine | 500 | - |
| Smallpiece Trust | - | 1,150 |
| Society for Mucopolysaccharide | 1,000 | 1,000 |
| Special Olympics Suffolk | - | 1,000 |
| SSAFA | - | 1,000 |
| STAMMA | 1,000 | 1,000 |
| THE ANNIE TRANMER CHARITABLE TRUST |
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
| 3 Charitable activities(Continued) c) Grants payable to institutions (continued) St Edmundsbury Cathedral Trust St Mary Le Tower Church (Together for Ipswich) Stroke Association Student Life Suffolk Refugee Support Suffolk Mind Sutton Hoo Society Target Ovarian Cancer The Avenue’s Trust The Brainwave Centre The Brain Tumour Charity The British Disability Trust The Church Army The Compass The Ellen Macarthur Cancer Trust The Frontline Organisation The Kite Trust The Macular Society The Police Community Clubs of GB The Seafarers’ Charity The Sick Children’s Trust The Transforming Autism Project Tom’s Trust Ukraine Appeal UNICEF UK (Committee for Ukraine Refugees) Unity Film & Production CIC Victoria and Albert Museum Volunteering Matters Walking With the Wounded Waveney Stardust Trust YMCA Trinity Group Young Enterprise Young Lives v Cancer |
2024 £ - - - - 3,000 - - - 1,000 - - 500 1,000 - 1,308 500 2,000 1,000 - 1,000 1,000 2,000 - - - - - 1,000 - 1,000 - - 3,000 129,846 |
2023 £ 500 1,000 1,000 500 5,500 1,500 1,000 500 - 500 1,000 - - 1,000 - - - - 1,000 500 1,000 - 2,000 2,500 1,000 1,700 2,000 - 750 - 1,000 500 2,000 121,340 |
|---|---|---|
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THE ANNIE TRANMER CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
| 4 Raising funds Investment management Regulatory fees 5 Fixed asset investments a) Schedule of movements Market value at 6 April 2023 Additions Proceeds from disposals Net unrealised gains (losses) Market value at 5 April 2024 Cash on deposit Market value at 5 April 2024 b) Historical cost of investments (excluding cash on deposit) At 5 April 2024 and at 5 April 2023 c) Classes of investments 2024 Market value £ Equities 2,646,582 Bonds 646,886 Property 272,305 Alternatives and Multi-Asset 279,910 3,845,683 Cash on deposit 35,857 3,881,540 |
% 68.2 16.7 7.0 7.2 99.1 0.9 100.0 |
2024 £ 24,085 72 24,157 2024 £ 3,681,957 289,814 (189,877) 63,789 __ 3,845,683 35,857 __ 3,881,540 2024 £ 3,311,875 2023 Market value £ 2,707,526 413,308 297,460 263,663 3,681,957 135,014 3,816,971 |
2023 £ 24,403 72 24,475 2023 £ 3,853,578 40,600 (43,833) (168,388) _ 3,681,957 135,014 _ 3,816,971 2023 £ 3,334,136 % 70.9 10.8 7.8 6.9 96.4 3.6 100.0 |
|---|---|---|---|
At 5 April 2024 three investments each comprised in excess of 5% of the portfolio: BNY Mellon Fund Managers (7.2%), UK Government Bonds (5.2%) and Black Rock Fund Managers (7.9%).
At 5 April 2023 three investments each comprised in excess of 5% of the portfolio: BNY Mellon Fund Managers (7.2%), M&G Securities Limited (5.1%), and Black Rock Fund Managers (8.2%).
12
THE ANNIE TRANMER CHARITABLE TRUST
Notes forming part of the financial statements for the year ended 5 April 2024 (Continued)
| 6 Debtors Investment income 7 Creditors Amounts falling due within one year Year-end grants Accruals |
2024 £ 3,755 2024 £ 56,260 14,391 70,651 |
2023 £ 1,870 2023 £ - 13,410 13,410 |
|---|---|---|
8. Trustees’ remuneration
the trustees in the year totalled £241 (2023: £228). These expenses were made up of 4 of the 6 trustees (2023: 4 of 6) reimbursed for travel expenses of £241 (2023: £228).
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