THE R J AND A H DANIELS CHARITABLE TRUST
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE R J AND A H DANIELS CHARITABLE TRUST
CONTENTS
Page
Trustee's Report
Independent Examinels Report
Statemenl of Financial Adivities
Balance Sheet
Notes to the financial statements
7-11
Investment Schedule
12-18

THE R J AND A H DANIELS CHARITABLE TRUST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Twslee presents their annual report and financial ststements of the charty for the year ended 31
December 2024. The financial statements have been prepared in accordance Mth the accounting policies set
out in note 1 to the financial statements and comply wth the charty's Trust Deed, the Charities Act 2011 and
Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing
their financial statements in accordance V￿th the Financial Reporting Standard applicable in the UK and
Republic of Ireland issued in October 2019.
Legal and Administrative Infomiation
Constitution
The R J & A H Daniels Charitable Trust is a registered charity
govemed by a Settlement Deed dated 29 December 1994
Charity Number: 1050703
Registered Office
The Administrator
One Bank Street, Canary Wharf, London E14 4SG
Bankers and Investment Managors
Union Bancaire Privee
One Bank Street, Canary Wharf. London E14 4SG
Independent ExamiMrs
Couch Bright King & Co
2 Tolherst Court, Turkey Mill Buisness Park, Ashford Road, Maidstone,
Kent ME14 5SF
Trusts8
Kleinwort Hambros Trust Company (UK) Limited
On 31 March 2025 the legal name of the corporate trustee Changed
from S G Kleinwort Hambros Trust Company (UK) Limited to
Kleinwort Hambros Trust Company {UK) Limited.
Objects of the Charlty
The objects of the chaiity are to pay or apply the ¢apital or income of the Trust Fund for such charitable
purposes, and in such proportions that the Trustee shall think frt. No fundraising is undertaken to support the
work of the charity.
Grant making policy
The Trustee's cu￿ent policy is to consider all written appeals received, but only successful appSications are
notified of the Trustee's decision. Donations are decided periodically.
Appolntsnont of Trustse and Charity Organisation
The charity is managed by the Trustee who is appointed under the terms of the Trust Deed, with daily
administration being dealt with by the Corporate Trustee, Kleinwort Hambros Trust Company IUK) Limited. No
fundraising is undertaken to support the work of the charity.

THE R J AND A H DANIELS CHARITABLE TRUST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal revlew and invostmont policy and perfomiance
The financial statements cover all the activities of the charity and have been prepared on an accruals basis.
They are presented in a format that reflects the split of funds be￿een income (unrestricted) and capitsl
(expendable endowment). The finanGial statements show a balance of unspent unrestricted funds of
£176.088.74 (2023.. £212,074.76).. this is derived from income from Stock Market investments and cash
deposits.
Incoming resources totalled £214,013.98 (2023- £181,585.02). £250,000.00 (2023.. £150,000.00) was
committed to charitable donations, and total administration expenses totalled £74,988.23 (2023.. £76.996.24).
Under the Trust Deed, there are no restrictions on the charity's poKEr to invest. The overall investment policy
is to achieve long temi Gapital growth in real terms. ￿lIst providing an income yield broadly in line with or
above that of the UK equity market.
Revlew of the activities and future developments
The Trustee is satisfied wth the financial position of the charity and confiTh that they have adequate assets
available to fulfil their obligations. There are no plans to alter the charity's activities next year.
Charitys public benefit
The Trustee has ensured that all activities throughout the period have been for the public benefit. This is
evidenced by the contributions made to charities totalling £250,000.00 (2023.. £150,000.00).
The Trustee confirms that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit ￿en reviewing the charitls aims and objectives and in planning future activities.
Res•rves policy and rlsk managemont
The Twstee aims to maintain free reserves in unrestricted funds at a level vknich equates to approximately
three months of unrestricted charitable expenditure. The Trustee considers that this level will provide
sufficient funds to respond to applications for grants and ensure that the support and governance costs are
covered. The Trustee considers that a level of three months is sufficient given the flexibility afforded by the
total retum approach towards the investment of the pemanent endowment thich allows the Trustee to
transfer amounts from the unapplied total element of the endowment fund in the case of urgent need. The
balance held as unrestricted funds at 31 December 2024 was £176,088.74 which is regarded as free
reserves. The current level of reserves is therefore higher than is needed and this wll be adjusted by reducing
the amount from the unapplied total retum in 2025. It is the Trustee's intention to maintain an unrestricted
fund appropriate to expected levels of annual donations, together ￿fjth a small cash balance of income. partly
to offset any fluctuation in investments income in future periods and to enable them to continue wth their
policy of responding quickly to appeals for significant support where appropriate. the timing of vthich is
unpredictable.
The Trustee has considered what risks the charity faces and believe these to be fraud or poor investment
perforniance. Adequate systems are in place to mitigate fraud and investment performance is regularly
monitored.
Trustee's responsibilities in rolation to tho financlal ststsments
The charity Trustee is responsible for preparin9 a Trustee's annual report and financial ststements in
a¢¢ordan¢e with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).

THE R J AND A H DANIELS CHARITABLE TRUST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The law applicable to charities in England and Wales requires the charity Trustee to prepare financial
statements for each year vA)i¢h 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 the financial
statements, the Trustee is required to:
select suitable accounting policies and then apply them consistently.,
- observe the methods and principle$ in the applicable Charities SORP.
- make judgements and estimates that are reasonable and pwdenl;
state vthether applicable accounting standards have been followed, subject to any material departures that
must be disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The Trustee is responsible for keeping proper accounting records that disclose Yiryth reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements comply
￿￿th the Charittes Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions
of the Trust Deed. They are also responsible for safeguarding the assets of the charity and tsking reasonable
steps for the prevention and detection of fraud and other I￿egUla￿tIes.
Digitally slgned
by Bradley
WALDEN
Date: 2025.10.22
1325.13 +01,00,
Digitally signed by
Michael Considine
Date: 2025.10.29
16:17:03 Z
Klelnwort Hambros Trust Company {UK) Limited

THE R J AND A H DANIELS CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
Independent Examlner's Report to tho Trust•• of The R J and A H Danlels Charitable Trust
I report to the Trustee on my examination of the accounts of the RJ and AH Daniels Charitable Trust for the
year ended 31 December 2024 vthich are set out on pages 5 to 18.
Responsibilities and tklsis of report
As the charity Trustee of the Trust you are responsible for the preparation of the accounts in accordance ￿fjth
the requirements of the Charitie5 Act 2011 (Ihe Act).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act
and in Garrying oul my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5>(b) of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to rny attention in connection
with the examination giving me cause to believe that in any material respect..
1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or
2. The accounts do not accord wth those records; or
3. The accounts do not comply with the applicable requirements concerning the form and Gontent of a¢counts
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 wth the examination to thich
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
D R Cates BA, FCA
Couch Bright King & Co Chartered A¢¢ountants
2 Tolherst Court, Turkey Mill Business Park
Ashford Road
Maidstone
Kent ME14 5SF
Date 31
202(

THE R J AND A H DANIELS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Note Unrestricted
Fund
Expendable
Endo￿nent
Total
2024
Total
2023
Incomg and Endowments
Investments:
Investment Income
214,013.98
214,013.98 181,585.02
Total In¢om• and Endowments
£214,013.98
£214,013.96 £181,585.02
Expenditure
Cost of raising funds..
SG Kleinwjrt Hambros Investment Management Fee
56,798.21
56,796.21
54,538.24
Expenditure on Charitable Activities:
Donations
Support Costs
250,000.00
250,000.00
18,192.02
150,000.00
22,458.00
18,192.02
Total Expenditur6
£250.000.00
£74,988.23 £324,988.23 £226,996.24
Net Income Before Gains and Losses
on Inveslments
1£35,986.02)
(£74,988.23) (£110,974.25) 1£45,411.22)
Gain$llLossesl on Investments
Realised
Unrealised
24,024.46
357,139.32
24,024.46
(9,263.25)
357,139.32 277,109.25
381,163.78 381,163.78 267,846.00
Not Movement in Funds in the Year
{£35,986.02)
£306,175.55 £270,189.53 £222A34.78
Funds
At 31 December 2023
Net Movernent of Resources in the Year
212.074.76
(35.986.02)
6.401,685.22 6,613,759.98 8,391,325.20
306,175.55 270,189.53 222,434.78
At 31 December 2024
£176,088.74 £6,707.860.77 £6.883.949.51 £6,613,759.98

THE R J AND A H DANIELS CHARITABLE TRUST
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
2024
2023
Fixed Assets
Investments
6.873,680.94
6.543.023.71
Current Assets
Cash at Bank
22,802.57
90,474.27
22,802.57
90,474.27
Current Uabilltles
Creditors. amounts falling due
thin one year
12,534.00
19,738.00
Net Currant Assets
10,268.57
70,736.27
Assets less Current Liabilities
£6,883,949.51
£6,613,759.98
Capltsl Fund
Expendable Endowment
6,707,860.77
6,401,685.22
Income Fund
Unrestricted Fund
176,088.74
212.074.76
£6,883,949.51
£6,613,759.98
The financial statements were approved by the Trustee on
2025
KleinwJrt Hambros Trust Company (UK} Limited
Digitally slgned
by Bradley
WALDEN
Date.. 2025.10.22
13..25..47 +01'W'
Digitally signed by
Michael Considine
Date: 2025.10.29
16:18:32 Z
Trustee

THE R J AND A H DANIELS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 A¢¢ountlng Pollcles
Those financial statements have been prepared in accordance with tho particular accounting policies
de￿ribed below.
Basls of Prèparatlon and Assessmont of Going Concern
The )Inancial statements havè been prepared under the historical Gost convention except for
investrnents, which have been included at mawket value. The financial statements have been prepared
in accordance the Statement of Recommended Practrce.. Accounting and Reporting by Charities
preparing their Financial Ststements in accordance wtth the Financial Reporting Stsndard applicable in
the United Kingdom and Republic of Ireland {FRS 102 20191 issued in October 2019 and the Charities
Act2011.
The charty constitutes a public benefit entity as defined by FRS 102. The Trustee considefs that there
are no material uncertainties about the charitys ability to conts.nue as a going concem.
The presentation currency of these financial statements is Pounds Sterling.
The figures have not been rounded.
Basls of Accountlng
- Ineome reeognitlon
All incoming rèsources are included in the Ststement of Financial Acti￿tieS when the ¢h8rity is legally
entitled to the income and the amount can be quantified with reasonable a¢Guracy.
Income tax recoverable in relation to investment income is recognised at the time investment income is
receivable.
Donations are re¢ogni$ed when the charity has been nolified in writing of both the amount and
settlement date. In th8 event that a donation is subject to conditions that require a level of performan¢e
before the charity is entitled to the fijnds, the income is deferred and not recognisèd until either those
conditions are fully met, or the fvlfilment of those ¢onditions is wholly wthin the control of the charity
and it is probable that those condition$ wll be fiJ1fi118d in the reporting period.
Legacy gifts are recognised on a case by case basis following the granting of probate when the
administratorlexecutor for the estate has communicated in writing both the amount and settlement
date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a
recogni5ed stock exchange, recognttion is Subject to the value of the gift being reliably measurable wilh
a degree of reasonable accuracy and the tiue to the asset having been transferred to the Charity.
Inte￿$t on funds held on deposit is included when re￿1vable and the amount can be measured reliably
by the charity.. this is no￿allY upon notificalion of the interest paid or payable by the bank. Dividends
are recognised once the dividend has been declared and notification has been received ofthe dividend
due. This is nomially upon notification by our investsnent manager of the dividend yield of the
investment portfolio.

THE R J AND A H DANIELS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- Expenditure re¢ognition
Liabilits'es are recognised as expenditure as soon as there is a legal or constructive obligation
¢ommitting the charity to that expenditure. it is probable that setuement will be required and the amount
of the obligation can be measured reliably.
All ex￿ndItUre is accounted ft•r on an accruals basis and has been included under expense categorias
that aggregate all costs for allocation to activities. Where costs cannot be dir8ctly attributed to
particular activitl8S they have been allocated on a basis consistenl wth the use of the resources.
Grants payable are charged in the year when Ihe offer is rnade except in those cases where the offer is
conditional, such grants being recognisèd as exp&nd¢ture when the conditions attaching are fulfilled.
Grants offered subject to condTtion$ which have not been met at the year end are notsd as a
commitment, but not accwed as expenditure.
Fuhd Structure
Income fvnds aré unrestflcted funds bthich are available for use at the discretion of the Trustee in
furtherance of the general objectives of the charity and which have not been designatsd for other
purposes.
Capitsl fvnds comprise expendable endowmonts, whereby there is no réquirement to spend th8 capitsl
unless. or until, the charity Trustee decide to do so. These funds are invested to produce unrestricted
income which can be spent in accordancé with the charitable objectives.
Investment income, gains and losses are allocated to the appropriate fund.
Invostmonts
Listed investments ar8 included in the financial statements at mid-market value at the balance shéèt
date. Unlisted investments 8re included in the balance sheel at their historical cost less any amounts
written off. Investménts include cash held for investment purposes.
Reallsed galns and 1088es
All gains and losses are laken to th8 Statement of Financial Adivities as they arise. Realised gains and
losses on investménts are calculated as the difference b8￿een sales proceeds and their opening
Carrying value or their purchase value if acquired subsequent lo the first day of the finaneial year.
Unreali$ed gains and lossés are calculated as the difference be￿n thé fair value at the year end and
their carrying valu8.
2 Informall¢￿ regarding Trustee's and Employeos
Kleinwort Hambros Trust Company (UK) Limited received a remuneration at market rate for its services
as Corporate Trustee. The Charity had no employeès.
3 Investment Income
2024
2023
Income from UK Listed Securities
Bank Interest
212,383.81
1,630.17
170,845.54
10,739.48
£214,013.98
£181,585.02

THE R J AND A H DANIELS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Donatlons to Charltsble InStit￿lOn$
2024
2023
Action for Children
Alzheimers Research UK
Alzheimers Society
Bamardo's
Battersea Dogs Home
BBC Children in Need
Blue Cross
Cats Protection
Children5 Adventure Farni Trust
Coram Children's Charity
Dementia UK
Friends of the Elderly
Guide Dogs for the Blind
Happy Days Children
Haven Hospice
Hopefield Animal Sanctuary
KIDS
Kids N Action
Ma¢millan can￿r
Make a Wish UK
Mane Chance Sanctuary
NSPCC
Penny Brohn
Prostate Cancer UK
Redwngs Horse Sanctuary
Save Ihe Children
Scope
St Christophers Hospice
Teenager Cancer Trust
The Brilish Horse Society
The Give a Duck Foundation
The Horse Rangers Association
The Mayhew Animal Home
The Royal Marsden Cancer Charity
Trussell Trust
UNICEF
Worfd Cancer Research Fund
4,000.00
8,000.00
15,000.00
5,000.00
15,000.00
10,000.00
10,000.00
5,000.00
15,000.00
4,000.00
8,000.00
4,000.00
8,000.00
4,000.00
4,000.00
8,000.00
15,000.00
10,000.00
10,000.00
8,000.00
4,000.00
8,000.00
4,000.00
4,000.00
4,000.00
8,000.00
15,000.00
5,000.00
5,000.00
15,000.00
4,000.00
4,000.00
4,000.00
5,000.00
10,000.00
15,000.00
4,000.00
4,000.00
4,000.00
8,000.00
5,000.00
10,000.00
15,000.00
5,000.00
5,000.00
4,000.00
8,000.00
5,000.00
10,000.00
10,000.00
10,000.00
5,000.00
4,000.00
£250,000.00
£150,000.00

THE R J AND A H DANIELS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
S Support Costs
2024
2023
Govomance Costs:
SG Kleinwort Hambros Trust Company (UK) Limited Fees
Independent Examinerfs Fees
Rounding Adjustment
16,752.00
1,440.00
0.02
21,078.00
1,380.00
£18,192.02
£22,458.00
6 Investhients Ilsted on a recognised Stock Exchange
2024
2023
Market Value 8rought Forward
Purchases
Disposals
6,457,692.00
2,012,272.56
{1,987,481.34)
6,663,118.00
1.243,046.67
(1,035,027.67)
6,482,483.22
6,189,846.00
Realised Gainl(Loss)
Unrealised Gainl{Loss)
24,024.46
357,139.32
{9.263.25)
277,109.25
Market Valuo
6,863,647.00
6A57,692.00
Cash on Union Bancaire Privee Account
10,033.94
85,331.71
Total Investments
£6.873,680.94
£6,543,023.71
Invostm•nts comprising greater than 5QA of the Portfolio
2024
2023
Aberdeen Europ Ex
Aviva Investors US Equity
Fidelty American Gr0￿h
Fidelity Index US
Invesco Funds SICAV
JPM American
Multi Units Luxembourg
Pimco Global Investors
7.28
5.42
7.68
5.04
5.12
5.76
5.80
5.17
5.02
6.33
6.69
6.77
10-

THE R J AND A H DANIELS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7 Creditors, amounts falling due wlthln one year
2024
2023
Independent Examinerfs Fee Provision
SG Kleinwort Hambros Trust Company (UK) Limited Fees
Donations Due
2,820.00
9,714.00
2,700.00
13,038.00
4,000.00
£12,534.00
£19,738.00
8 Expendable Endowment
Movomgnt 5n
Funds
Balance
31 Dec 2023
Gains and
Transfers
Balance
31 Dec 2024
£6,401,685.22 £306,175.55 £6,707,860.77
Income is available for general purposes. The expendable endowment 1$ represented mainly by
inveslments listed on a recognised Stock Exchange.
9 Unrestrl¢tsd Funds
The income funds of the charity will be allocated by the Trustee towards charities and charitable
activities, as set out in the Trustee's Report attached to these financial statements. Unrestrided
funds are represented by the net current assets of the charty.
10 Related party transactions and trustee's expenses and romunoration
The charity does not have a relationship wth any other charity or organisalions.
Remuneration of £16,752.00 (£21,078.00 in 2023) including VAT Wds paid to Kleinwort
Hambros Trust Company (UK) Limited for its seDii¢e as Corporate Trustee.