2024-03-31-accounts

Registered Charity Number: 1053321

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

CONTENTS

	Pages
Trustees and professional advisors	1
Trustees' report	2-5
Independent Auditor's report	6-9
Statement of financial activities	10
Balance sheet	11
Cash flow statement	12
Notestothefinancialstatements	13-31

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES AND PROFESSIONAL ADVISORS

Registered	Charity Number	1053321
Trustees		The Honourable C R Boscawen
		JC Pickering
		LM Long
Registered	Office	Providence House
		141-145 Princes Street
		Ipswich
		Suffolk
		IP1 1QJ
Investment	Advisors	Cazenove Capital Management
		12 Moorgate
		London
		EC2R 6DA
		CCLA Investment Management Ltd
		One Angel Lane
		London
		EC4R 3AB
Banks		Barclays Bank
		1 Princes Street
		Ipswich
		Suffolk
		IP1 1PB
		CAF Bank
		Registered Office:
		25 Kings Hill Avenue
		Kings Hill
		West Malling
		ME19 4JQ
Auditor		Sumer Auditco Limited
		Statutory Auditor
		Fitzroy House
		Crown Street
		Ipswich
		Suffolk
		IP1 3LG
Solicitor		Birketts LLP
		Providence House
		141-145 Princes Street
		Ipswich
		Suffolk
		IP11QJ

1

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2024

The Trustees present their report and the financial statements for the period ended 31 March 2024. The financial statements have been prepared in accordance with current statutory requirements, the Charity's governing instrument and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Objectives and activities for the public benefit

The Trustees shall hold the Trust Fund upon such charitable trusts and for such charitable purposes as they shall in their uncontrolled discretion from time to time determine.

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 period.

The Trust carries out these objectives by making grants to charitable organisations.

The policy of the Trustees is to set donations at a level which broadly equates to investment income received with a contribution from capital funds as required.

Grant making policy

The Trust has established its grant making policy to achieve its objects for the public benefit to improve the lives of those in the local community. The Trustees review the grant making policy annually to ensure that it reflects the Trusts objects and thereby advances public benefit.

The Trust invites applications for grants from all charitable institutions. These are then reviewed by the Trustees, who decide if the grant meets the Trust objectives and are for public benefit.

Achievements and performance

The Trust has made charitable distributions in 2024 amounting to £677,550 (2023: £723,750) to charitable causes within the Trustees’ policy objective for annual donations. The Trustees continue to support charitable causes within the Trust objectives with a preference to local projects in Suffolk.

Financial review

The net movement in funds for the period amounted to £9,845,342 2023: (£1,513,091) Net Gains/(Losses) on investments in the period £1,598,400 2023: (£1,064,798)

The Charity's powers to invest its funds are set out in the Charity’s governing instrument. Any monies not immediately required for the furtherance of the Charity's objects may be invested at the discretion of the Trustees.

There are no restrictions on the Trustees' power to invest funds.

2

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2024 (Continued)

Financial review (continued)

It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity. The Charity has inheritance from the estate of the Late Lord Belstead, the majority of which was transferred to the Charity in previous years. The Charity also has inheritance from the estate of the Late Mary Jill Ganzoni, the majority of which was transferred to the Charity in the accounting period.

Investment policy

The Trustees have adopted a bias towards capital growth. They wish to adopt a medium risk investment strategy.

Plans for the future

The Trustees plan to continue to designate expenditure within their objective of setting the donations at a level which broadly equates to investment income received over the medium term.

Structure, governance and management

The organisation is an unincorporated Charitable Trust, created on 14 August 1972 by the late Lord Belstead and registered as a charity on 27 February 1996. The Trust was established under a Trust deed which established the objects of the Trust and powers of the Trustees.

By Vesting Deed dated 15 May 2023 and Pursuant to an Order of the Charity Commission dated 17 April 2023, the Trustees of the Ganzoni Trust were authorised to vest the beneficial interest in all assets they currently hold on the trust for the Ganzoni Trust so that, with effect from the date of the Vesting Deed, they will hold those assets on trust for the Belstead Settlement.

Upon merger, the Trustees resolved that the Charity name be changed to "The Belstead Ganzoni Charitable Settlement".

The Trustees set out below have held office during the year and to the date of this report, except as stated otherwise;

The Hon Charles Richard Boscawen

John Charles Pickering

Louise Mary Long

The power of appointing new Trustees of the Trust Deed is vested in the continuing Trustees.

The current Trustees are responsible for the induction of any new Trustees which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, and the history of the Charity.

3

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2024 (Continued)

Reference and administrative information

The Belstead Ganzoni Charitable Settlement is registered with the Charity Commissioners, registration number 1053321, its registered address being Providence House, 141-145 Princes Street, Ipswich, IP1 1QJ.

Trustees’ responsibilities for the financial statements

The Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law and regulations.

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.

In preparing these financial statements the Trustees are required to:

(a) select suitable accounting policies and apply them consistently;

(b) observe the methods and principles in the Charities SORP;

(c) make judgments and estimates that are reasonable and prudent;

(d) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and;

(e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, 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 confirm that so far as they are aware, there is no relevant audit information of which the Charity's auditor is unaware. The Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charity's Auditor is aware of that information.

Auditor

On 28 March 2024 our auditor, SB Audit LLP, merged with Sumer Auditco Limited. Accordingly SB Audit LLP formerly resigned as the Society's auditor with the Executive Committee duly appointing Sumer Auditco Limited to fill the vacancy arising

4

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2024

Approved by the Trustees and signed on their behalf by

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LM Long
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5

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES

Opinion

We have audited the financial statements of The Belstead Ganzoni Charitable Settlement (the ‘Charity’) for the period ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, The Statement of Cash Flows and notes to the financial statements, 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 31 March 2024 and of its incoming resources and application of resources for the year then ended;

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

• 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 accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 basis for 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 twelve 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 matter

The prior year financial statements of the Ganzoni Charitable Trust were not audited. The pre-merger comparative financial statements of the Belstead Ganzoni Settlement were audited.

6

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued)

Other information

The other information comprises the information included in the Trustees' Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Trustee's Report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require 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 received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, set out on page 3 and 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 the Trustees 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.

4

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued)

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 Auditor's 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 ISAs (UK) will 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general charitable organisation experience and through discussions and enquiries of Trustees and management. During the engagement team briefing, the outcomes of these discussions were shared with the team, as well as consideration as to where and how fraud may occur in the Charity.

The following laws and regulations were identified as being of significance to the Charity:

• Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, taxation regulations and the Charities Act 2011;

• The Charity is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following area as those most likely to have such an effect: GDPR compliance.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the Charity complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of relevant legal documentation, review of board minutes, testing the appropriateness of entries in the nominal ledger, including journal entries and the performance of analytical procedures to identify any unexpected movements in account balances which may be indicative of fraud.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the Charity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

8

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued)

Auditor’s responsibilities for the audit of the financial statements (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our Report

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sasey Lydicp hoonred

Sumer Auditco Limited

Statutory Auditor Fitzroy House

Crown Street

Ipswich IP1 3LG

ANE: TG Fuad WLS

Sumer Auditco Limited is eligible to act as an auditor in terms of Section 1212 of the Companies Act

9

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

STATEMENT OF FINANCIAL ACTIVITIES (SoFA) PERIOD ENDED 31 MARCH 2024

PERIOD ENDED 31 MARCH 2024
		Unrestricted	Funds
	Notes	31 March 2024	5 April 2023
		£	£
Income
Donations and legacies	§	8,637,961	68,190
Investment income	6	524,506	395,822
Total Income		9,162,467	464,012
Expenditure
Expenditure on Raising Funds
Investment management fees		167,424	142,463
Expenditure on Charitable Activities
Grants payable	7	677,550	723,750
Governance costs	8	70,551	46,092
Total Expenditure		(915,525)	(912,305)
Net Gains / (Losses) on Investments		1,598,400	(1,064,798)
Net Income / (Expenditure)		9,845,342	(1,513,091)
Reconciliation of Funds
Total funds brought forward at 6 April 2023	3	17,226,626	18,739,717
Totalfundscarriedforwardat31March2024	2	27,071,968	17,226,626

Operating Activities

All incoming resources and resources expended derive from continuing operating activities.

Statement of Recognised gains and losses

The Statement of Financial Activities includes all gains and losses recognised in the period.

10

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

BALANCE SHEET AS AT 31 MARCH 2024

		Notes	31 March 2024	5 April	2023
			£	£
Fixed Assets
Investments		11	25,890,444	17,226,891
Current Assets
Debtors		12	1,139,550	35,000
Cash at bank and in hand			258,366	78,017
			1,397,916	113,017
Creditors:
amounts falling due within one year		13	(216,392)	(113,282)
Net CurrentAssets / (Liabilities)			1,181,524		(265)
Total Assets less Current Liabilities being Net Assets			27,071,968	17,226,626
The Funds of the Charity
Unrestricted funds at 31 March	2024	14	27,071,968	17,226,626
Approved and authorised for issue bythe Trustees and signed on their behalf by
TheHonourableC RBBoscawen	—
JC Pickering
LMLong 5
Dated a			200%
Thenotesonpages13to31formpartofthesefinancialstatements.

11

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

CASH FLOW STATEMENT PERIOD ENDED 31 MARCH 2024

	Notes	Notes	31 March 2024	5 April 2023
			£	£
Cash Flows from operating statements
Netcash generated from /(used in) operating	activities	16	7,810,081	(1,267,943)
Cash flows form investing activities
Interest received			145,185	70,402
Income from investments			379,321	325,421
Purchase of investments			(30,772,967)	(10,683,890)
Proceeds form sales of investments			22,670,454	11,313,212
			(7,578,007)	1,025,144
Change in cash equivalents in the year		18	232,074	(242,799)
Cash and cash equivalents at6 April 2023			394,198	636,997
Cash and cash equivalents			_______
at31March2024/5April2023		17	_ 626,272	394,198

12

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

1 Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition)’ and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition)’rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Belstead Ganzoni Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

On 15 May 2023, this charity (formerly called The Lord Belstead Charitable Settlement) merged with Ganzoni Charitable Trust. In accordance with Section 27 of the Charities SORP, this has been accounted for using merger accounting and all figures represent the combination of the two entities.

Following the merger the trustees agreed to change the accounting year end to 31 March and these accounts have been prepared for the period 6 April 2023 to 31 March 2024, accordingly.

The functional and presentational currency of the Charity is British Pounds, rounded to the nearest £1.

Going Concern

The Trustees have considered the level of reserves and anticipate that the Charity will be able to continue to trade and to meet its liabilities as they fall due for the foreseeable future, being period of 12 months from the date of approval of the financial statements. Accordingly these Financial Statements have been prepared on the going concern basis.

Financial Instruments

The Charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value at bid value.

13

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

• 1 Accounting Policies (Continued)

Investments

Investments are included in the financial statements at market value at the balance sheet date, and the gain or loss on revaluation or disposals during the year are taken to the Statement of Financial Activities.

Cash at Bank

Cash at bank includes short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Foreign currency translation

Foreign currency transactions are translated using the spot exchange rates at the date of the transactions.

At each period end foreign currency balance sheet items are translated using the closing rate.

Income

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. All income is stated gross of any expenditure.

For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received.

Expenditure

All expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs related to the category.

Grants payable are recognised when the recipient of the grant has been informed that their application is successful and that they will receive the grant. The value of such grants unpaid at the year end is included in other creditors.

Governance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements and are included under expenditure on charitable activities. Expenditure includes attributable value added tax which cannot be recovered.

14

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

1 Accounting Policies (Continued)

Fund Accounting

Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Taxation

The Belstead Ganzoni Charitable Settlement is a Charity within the meaning of the Charities Act 2011 and as such is a Charity within the meaning of Part 11, Corporation Tax Act 2010. Accordingly the Charity is potentially exempt from taxation in respect of income or gains received within categories covered by Part Il, Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purposes.

15

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

• 2 Analysis of principal SoFA components for the current reporting period to 31 March 2024

			The
	The Lord		Belstead
	Belstead	The Ganzoni	Ganzoni
	Charitable	Charitable	Charitable	Combined
	Trust	Trust	Settlement	Total
	06.04.2023	06.04.2023	16.05.2023
	to	to	to
	15.05.2023	15.05.2023	31.05.2024
	£	pa	£	£
Total income	29,777	11,303	9,121,387	9,162,467
Total Expenditure	(3,473)	(16,000)	(896,052)	(915,525)
Net income / (expenditure)	26,304	(4,697)	8,225,335	8,246,942
Othergains / (losses)	(11,733)	1,700	1,608,433	1,598,400
Net movement in funds	14,571	(2,997)	9,833,768	9,845,342
Total funds brought forward	12,122,945	5,103,681	-	17,226,626
Totalfundscarriedforward	12,137,516	5,100,684	9,833,768	27,071,968

3 Analysis of principal SoFA components for the previous reporting period to 5 April 2023

	The Lord	The
	Belstead	Ganzoni
	Charitable	Charitable	Combined
	Trust	Trust	Total
	£	£	£
Total income	324,270	139,742	464,012
Total expenditure	(721,447)	(190,858)	(912,305)
Net income / (expenditure)	(397,177)	(51,116)	(448,293)
Othergains / (losses) Net movement in funds	(773,696) (1,170,873)	(291,102) (342,218)	(1,064,798) (1,513,091)
Total funds brought forward	13,293,818	5,445,899	18,739,717
Totalfundscarriedforward	12,122,945	5,103,681	17,226,626

16

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

4 Analysis of net assets at the date of merger on 15 May 2023

	The Lord	The
	Belstead	Ganzoni
	Charitable	Charitable	Combined
	Trust	Trust	total
	£	£	£
Funds at 15 May 2023:
Investment assets	12,068,880	5,112,238	17,181,118
Current assets - cash at bank and debtors	93,993	18,485	112,478
Current liabilities Net assets	(28,555) 12,134,318	(30,040) 5,100,683	(58,595) 17,235,001
Represented by:
Unrestricted funds	12,134,318	5,100,683	17,235,001
Restricted funds	a	~	~
Endowment funds	=		~
Totalfunds	12,134,318	5,100,683	17,235,001

17

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |5|Donations|and|Legacies| |31|March|2024|5|April|2023| |2|2| |Donations| |Lord|Belstead's|Children's|Settlement|43,437|38,190| |Compensation|relating|to|land|19,000|30,000| |Legacies| |Lord|Belstead's|Children's|Settlement| |-|sale|of|Seckford|Bungalow|684,116|~| |Estate|of|Jill|Ganzoni|7,891,408|~| |8,637,961|68,190|

----- End of picture text -----

6 Investment Income

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |UK|Overseas|31|March|2024|5|April|2023| |£|£|£|3| |Dividends|received|gross|101,287|179,866|281,153|266,935| |Interest|received|gross|49,823|55,530|105,353|58,909| |Property fund|income|49,661|~|49,661|55,820| |Equalisation|payments/fee|rebates|48,507|~|48,507|2,665| |Broker|and|bank|interest|39,832|~|39,832|11,493| |289,110|235,396|524,506|395,822|

----- End of picture text -----

18

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable	2024	2023
		£	£
Charitable Donations
	The Belstead Charitable Trust
	period 6 April 2023 to 15 May2023
	None	rad	=
	The Ganzoni Charitable Trust
	period 6 April 2023 to 15 May 2023
	Abi's Footprints Baby Bank	~	2,000
	Aldeburgh Jubilee Hall	#2	1,000
	All Saints Church, GreatGlemham	me	~
	All Saints Church, Hundon	+	~
	All Saints Church, Kesgrave	~	~
	All Saints Church, Little Bealings	=	~
	Asperger East Anglia	ee	1,000
	Asthna & Lung UK	=	1,000
	Avenues East	a	~
	Back Up	a	ee
	Barking Cum Darmsden PCC	~	*~
	Beccles Community Hub and Volunteer Centre		~
	Blind Veterans UK	eae	1,000
	Brainwave	~	1,000
	Bramford Road Methodist Church	si	1,000
	British Epilepsy Association	=	500
	British Heart Foundation	~	~
	British Polio Fellowship	2,000	~
	Britten Pears Arts	=	~
	Buttle UK	=	mo
	Cambridge Science Centre	=	2,000
	Cancer Support UK	x	500
	Cardiac Risk in the Young	=	1,000
	Carers UK	3	2,000
	Caudwell Children	~	~
	Child Brain InjuryTrust	1,000	~
	Citizens Advice	e	3,000
	CLIC Sargent		~
	Clockhouse Arts Association (Butley Mills Studios)	=	1,500
	Colchester & Ipswich Hospitals Charity	~	~
	Colostomy UK	=	1,000
	Combat Stress		500
	Community Safety Education	2,000	~
	Compassion	=	ad
	Country Trust	ms	~
	Cracherjack Children's Trust	=	500
	Cransford Village Hall	1,000	~
	Crohn's and Colitis UK	~	1,500
	CurwenPrintStudyCentre	ss	~

19

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |7|Grants|Payable|(continued)|2024|2023| |=|£| |Charitable|Donations| |CYDS|ne|2,000| |Dallinghoo|PCC|=|a| |Disability|Advice|Service|~|1,000| |Douglas|Bader|Foundation|~|-| |Elmsett|Methodist|Church|1,000|~| |Emmaus|Suffolk|~|2,000| |Epilepsy Action|~|ms| |Event|Mobility|=|500| |Excelsior|Trust|~|500| |Fareshare|East|Anglia|i|3,000| |FAYAP|1,000|~| |Fornham|All|Saints|Church|PCC|~|1,000| |Fornham|St|Martin|PCC|os|2,000| |Fresh|Start|Charity|~|3,000| |Frozen|Light|“7|2,000| |Future|Inclusions|Organisation|~|~| |Go|Kids|Go|=|=| |Headway|Suffolk|~|2,000| |Hope|for Tomorrow|~|~| |Hour Community|~|500| |Hypo|Hounds|=|500| |Inside|Out|Community|~|1,000| |Ipswich|Community|Bus|~|2,000| |Ipswich|Disabled|Advice|Bureau|~|a| |Ipswich|Opportunity|Group|=|2,000| |Kids|Inspire|=|2,000| |Kinetic|Science|Foundation|~|=| |L'Arche|=|2,000| |Lennox|Children's|Cancer|Fund|=|1,000| |LifeLites|=|~| |Little|Saxham|PCC|=|=| |MACS|a|1,000| |Macmillan|Cancer|Support|~|1,000| |Memories|Are|Golden|1,000|re| |Meningitus|Now|=|1,000| |Milden|PCC|~|2,000| |Motor|Neurone|Disease|Association|~|2,000| |NARA|~|~| |NASS|~|oe| |National|Autistic|Society|a|2,000| |New|Cut Arts|(James|Holloway Youth|Fund)|1,000|~| |Old|Newton|Under|Fives|~|~| |Orchestras|Live|~|o| |Papworth|Trust|~|~| |PHOEBE|~|2,000| |Playford|PCC|-|standing|order|~|1,000| |Prostate|Cancer UK|ms|2,000|

----- End of picture text -----

20

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		a	£
Charitable Donations
	Reach	=	1,000
	React	a	1,000
	Relate	=
	RNIB	=	2,000
	Roja Arts CIC	=	ot
	Rougham Playing Field	~	2,000
	Sailor's Childrens Society	~	a
	Samaritans	~	2,000
	Sands	“	a
	SCOPE	ad	~
	ShelleyPCC	~	2,000
	SHINE	~	1,000
	SIA	=	2,000
	Sibton PCC (Friends ofSt.Peters Church)	i	2,000
	Spexhall PCC	i	~
	Spill	500	~
	St Edmundsbury& Ipswich DBF - standing order	ar	250
	St James's Church, Nayland PCC	~	~
	StJohn the Baptist Church,Denham	~	~
	St Lukes for Clergy Wellbeing	3	1,000
	St Margaret's Church, Westhorpe	=	5,000
	St Margaret's South Elmham PCC	e	1,000
	St Mary-le-Tower PCC - standing order	a	1,000
	St Mary-le-Tower Church (Organist) standing order	a	5,000
	St Mary's Church, Stoke by Nayland	=	5,000
	St Mary's Brent Eleigh PCC	=	i
	St Mary's Church, Hinderclay	~	1,500
	St Michael's Church, Oulton	=	1,000
	St Nicholas Church, Bedfield	=	=
	St Peter's Church, Hepworth	1,000	~
	Stella Maris	~	2,000
	Stradbroke Baptist Church	“	ee
	Strongbones Children's Charitable Trust	500	~
	Student Life	=	=
	Sudbury & District Citizens Advice	~	1,000
	Sue Ryder	=	a3
	Suffolk Accident Rescue Service	«	1,400
	Suffolk Building Preservation Trust	>	es
	Sunny Days Children's Fund	~	1,000
	Target Ovarian Cancer	=	1,000
	Tastelife	2,000	~
	The Almshouse Association	~	~
	The College of St Barnabas	a	3,000
	The Compass	=	2,000
	The Forward Trust	bo	2,000
	The Friends ofThomas Wolsey School	=	1,000
	ThePrincesTrust	=	1,000

21

:

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS

PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024		2023
		2		£
Charitable Donations
	The QuayTheatre	~		1,000
	The Sequal Trust	~		500
	The Urology Foundation	2,000		~
	Time Norfolk	~		500
	Topcats	~		1,500
	Torch Trust for the Blind	~		~
	Transforming Autism Project	os		2,000
	Triangle Church Ipswich	~		~
	Turn 2Us	~		2,000
	Volunteering Matters	~		2,000
	Wattisfield Parish Council	~		~
	Whizz Kidz	~		1,000
	Willow Foundation	~		2,000
	Wings forWarriors	~		1,000
	Young Lives Vs Cancer			2,000
	Young Women's Trust	=		1,000
			16,000		133,650
	The Belstead Ganzoni Charitable Trust
	16 March 2023 to 31 March 2024
	ist Birkfield Rainbows	500		~
	Abbeycroft Leisure	1,000		=
	ABF The Soldier's Charity	2,000		~
	Action for M.E.	1,000		1,000
	Addenbrooke's Charitable Trust	20,000		~
	Afghanistan & Central Asian Association	o		2,000
	Age Well East	1,000		2,000
	Alan Road Methodist Church	2,000		~
	All Saint's church, Brandeston	3,000		os
	Alpherton Jubilee Village Hall	1,000		1,000
	Aspect Living Foundation	2,000
	Asperger East Anglia	1,000		~
	Assist Trust	500		=
	Asthma Relief for Suffolk	2,000		2,000
	Asthma + Lung UK	1,000		~
	AT Society	1,000		zs
	Autism and Nature	~		1,500
	Autistica	ss		2,000
	Avenues Trust Group	1,000		~
	Bardwell PCC	~		1,500
	Basics Essex	~		1,000
	Beat Eating Disorders	1,000		=
	BLESMA	1,000		1,000
	Blind Veterans UK	1,000		~
	Bliss	2,000		~
	Boost Felixstowe	2,000		2,000
	BowelCancerUK	1,000		2,000

22

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		£	£
Charitable Donations
	Bowel Research UK	1,000	2,000
	Boxted & Hartest Institute	3,000	~
	Braille Chess Association	500	1,000
	Brainwave	500	~
	Brave Futures	eo	1,000
	Break	2,000	2,000
	Breast Friends Brentwood	2	2,000
	Bridge Community Church	1,000	~
	British Disabled Angling Association	500	500
	British Heart Foundation	1,000	2,000
	British Wireless for the Blind	1,000	2,500
	Britten Pears Arts	2,000	~
	Britten Sinfonia	2,000	~
	Build Charity	1,000	~
	Burlington Baptist Church, Ipswich	2,000	2,000
	Bury Drop In	~	2,000
	Butley Mills Studio (Clockhouse Arts)	~	2,000
	Cancer Campaign in Suffolk	a	5,000
	Cancer Support UK	1,000	2,000
	Cardiac Risk to the Young	1,000	~
	Carers UK	1,000	~
	Caudwell Children	500	~
	Cavell Nurses Trust	3,000	3,000
	Centre 81	1,000	~
	Christian Youth Ministries	~	3,000
	Church Army	1,500	~
	Churches Conservation Trust	=	3,000
	CICRA	2,000	2,000
	Citizens Advice lpswich	3,000	~
	Clare Baptist Church	=	500
	Clothing Solutions for Disabled People	=	500
	Colchester & Ipswich Hospitals Charity	1,000	5,000
	Colostomy UK	500	~
	Combat Stress	1,000	1,000
	Community Action Suffolk	=	3,000
	Community Safety Education	1,000	2,000
	Copdock and Washbrook Playing Field Charity	a	1,500
	Copdock and Washbrook Preschool	~	1,100
	Copdock with Washbrook PCC	m	5,000
	Crackerjacks Children's Trust	1,050	*~
	Cransford Village Hall	1,000	~
	Cruse Bereavement Care	2,000	2,000
	DanceEast	2,000	2,000
	Daws Hall Trust	=	500
	Deben District Scout Council	=	2,000
	DebenhamVillageHall&PlayingFieldTrust	~	3,000

23

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		£	£
Charitable Donations
	Dennington Sports & Social Club	3,000	~
	Dennington Village Hall	2,000	=
	Dentaid	1,000	=
	Designermakers ClO	2,000	~
	Diabetes UK	=	2,000
	Different Strokes	1,000	1,000
	Disability Advice NE Suffolk	1,500	3,000
	Disability Advice Service East Suffolk	3,500	=
	Dora Brown	3,000	~
	Douglas Bader Foundation	os	1,000
	East Anglia's Children's Hospices	100,000	100,000
	Eating Matters	1,000	~
	Epilepsy Action	500	os
	Event Mobility	500	=
	Excelsior Trust	1,500	1,000
	Families Together Suffolk	2,000	3,000
	FareShare	3,000	oe
	FAYAP	~	1,000
	Felixstowe Youth Development Group	2,000	E
	Foodcycle	=	1,000
	Forces Employment	500	=
	Fornham St Martin PCC	4,000	~
	Framlingham PCC (CCR Project)	o	5,000
	Framlingham Town Football Club	3,000	=
	Fresh Start Charity	1,000	1,000
	Friends of All Saints Church, Hitcham	2,000	=
	Friends of Bramfield School	os	2,000
	Friends ofRushmere Library	4,000	~
	Friends of St Mary's School, Woodbridge	3,000	=
	Friends of St Peter's, Sibton	2,000	=
	Friends ofWoodbridge Library	2,000
	Frozen Light	1,000	~
	Gainsborough House Society	-	12,500
	Girlguiding Suffolk	2,000	~
	Go Kids Go	1,000	ao
	Green Light Trust	2,000	2,000
	Guide Dogs for the Blind	2,000	2,000
	Handicapped Childrens Action Group	500	1,000
	Happy Days	1,000	1,500
	Haughley Parish Council	~	5,000
	Headway Suffolk	2,000	=
	Historic Towns Trust	2,000	c
	Hive Community Hub	2,000	=
	Hearing Dogs	500	1,000
	HMPWarrenHill	750	~

24

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		£	E
Charitable Donations
	Holy Trinity Church, Middleton	2,000	°
	Home ForGood	ise	1,000
	Homestart in Suffolk	2,000	~
	Hope forTomorrow	2,000	2,000
	Horatio's Garden	1,000	~
	Hour Community	1,000	~
	IIketshall St.Andrews Village Hall	~	2,000
	IIketshall St.John PCC	=	2,000
	lketshall St Margaret& S.Elmham St Peter Village Hall	3,000	~
	Independent Age	1,000	2,000
	Ink	2,000	2,000
	Inspire Suffolk	1,500	3,000
	Ipswich Alpha Explorer Unit	=	1,000
	Ipswich BMX Club	2,000	~
	Ipswich Chamber Music Society	1,000	~
	Ipswich Community Playbus	3,000	3,000
	Ipswich Disabled Advice Bureau	2,000	4,000
	Ipswich Disabled Advice Bureau	2,000	=
	Ipswich Housing Action Group	re	3,000
	Ipswich Outreach	3,000	~
	Ipswich Sports Club for the Disabled	3,000	~
	JDRF	2,000	~
	Jetty Lane	i	2,500
	John Grant School	1,000	~
	Just42	3,000	~
	Landseer Road Methodist Church	1,000	3,000
	Lavenham PCC	3,000	~
	Layham PCC	2,000	~
	Let's Talk Reading	a	3,000
	Leukaemia UK	500	2,000
	Lifelites	1,000	1,000
	Listening Books	1,500	1,000
	Little Lifts	=	2,000
	Little Ouse Headwaters Project	2,000	1,000
	Long Melford PCC (Medieval Stained Glass Fund)	3,000	~
	Lord Kitchener Holiday Memorial Centre	500	~
	MACS	1,000	~
	Marriage Care		2,000
	MARS BPD Group	1,000	=
	Memories are Golden	“	2,000
	Meningitis Now	1,000	~
	Mid Suffolk Gymnastics Club	eo	2,000
	Mind Suffolk	i)	13,000
	Mobility Trust	~	1,000
	Motor Neurone Disease Association (MNDA)	2,000	2,000
	MSSociety	a	2,000

25

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		£	ee
Charitable Donations
	Muscular Dystrophy	2,000	2,000
	Musical Keys	a	1,000
	My Life	4,000	=
	NARA	1,000	me
	National Autistic Society	1,000	~
	National Kidney Federation	1,000	1,000
	National Youth Choirs of Great Britain	1,500	2,000
	Newlife	1,000	1,000
	Newmarket Day Centre	2,000	=
	Norfolk & Suffolk NHS Foundation Trust	=	2,000
	Norton Village Hall	5,000	im
	Nurse Lifeline	3,000	E
	Oasis English Language School	2,000	=
	Olive AP Academy Suffolk	2,000	5,000
	Open Road West Suffolk	~	500
	Orchestras Live	1,000	~
	Ormiston Families	1,000	3,000
	Orwell Mencap	5,000	=
	Our Special Friends	2,000	2,000
	PACT (Parents Conciliation Trust)	2,000	7,000
	Parish Nursing Ministries UK	500	~
	Parkinsons UK	we	2,000
	Peasenhall Assembly Hall	2,000	~
	Petals	fs	500
	Playford PCC	1,000	~
	Poppies Care Farm	e	2,000
	Prisoners Education Trust	1,000	5,000
	Project Trust	~	500
	Prostate Cancer UK	2,000	~
	QuayTheatre Sudbury	=	2,000
	RAF Benevolent Fund	=	1,000
	Reach	2,000	=
	React	1,000	~
	Read for Good	~	500
	Reydon PCC	250	~
	Ringsfield Hall Woodland Activity Centre	3,000	=
	Ringshall Parish Council	=	2,000
	River Church, Ipswich	=	2,000
	Roja Arts CIC	1,000	1,000
	Royal National College forthe Blind	=	5,000
	RNIB	2,000	2,000
	Rural Coffee Caravan	4,000	5,000
	Samaritans	2,500	~
	Saxmundham PCC (Suffolk coastal debt centre)	~	2,500
	Second Chance Stroke Group	3,000	3,000
	SeeYourLife	500	~

26

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024	2023
		£	£
Charitable Donations
	Shannon Trust	se	1,000
	Shelley PCC	2,000	~
	Shine	1,000	~
	Shotley Pier	500	~
	Solo Housing	500	~
	Spinal Muscular Atrophy UK	1,000	1,000
	St Andrew's Church, Weybread PCC	2,000	~
	St Elizabeth Hospice	100,000	100,000
	St Ethelbert, Herringswell PCC	3,000	~
	St Francis with St Clare PCC	1,000	~
	St Gregory's PCC Sudbury (bells)	7	3,000
	St John the Baptist, Stoke by Clare	3,000	~
	St John's Church	2,000	~
	St.Luke's for ClergyWellbeing	1,000	~
	St.Margaret's Church, Ipswich	5,000	~
	St. Margaret's Church, Soane Street, Ipswich	1,000	~
	St.Margaret's Church, Somerton	3,000	2,000
	St Mary at the Elms Church, Ipswich	3,000	ms
	St.Mary Le Tower PCC	21,500	~
	St Mary's Church Bucklesham PCC	3,000
	St.Mary's Church, Dedham PCC	1,000	~
	St.Mary's Church, Henstead PCC	3,000	Fe
	St.Mary's Church, Nettlestead	2,000	~
	St.Mary's Church, Swilland	3,000	~
	St Mary's Church, Walton	2,000	~
	St Nicholas Hospice	50,000	20,000
	St Peter's Church, Freston	1,000	~
	St Peter's Church, Henley	4,000	~
	St Peter's Church, Merton	500	~
	Stepping Stones	=	500
	Stonham Aspal and Mickfield PCC	=	3,000
	Stowupland Falcons Football Club	1,000	~
	Stroke Association	1,000	2,000
	Student Life	=	2,000
	Suffolk Accident Rescue Service	1,000	~
	Suffolk Building Preservation Trust	~	1,000
	Suffolk Coastal Crucial Crew	2,000	~
	Suffolk Coastal Debt Centre	2,000	~
	Suffolk Community Foundation	“~	25,000
	Suffolk Law Centre	eS	2,000
	Suffolk Wildlife Trust	3,000	5,000
	Sunny Days Children's Fund	1,000	1,000
	Support Dogs	500	~
	Target Ovarian Cancer	1,000	~
	The Befriending Scheme	2,000	~
	TheBenjaminFoundation	500	~

27

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

7	Grants Payable (continued)	2024		2023
		£		£
Charitable Donations
	The Brain Tumour Charity	500		2,000
	The Bridge Project	2,000		5,000
	The Bumblebee Children's Charity	2,000		2,000
	The Dominic Barker Trust	2,000		=
	The Fishermen's Mission	1,000		=
	The Food Museum	3,000		=
	The George Community Pub (Wickham Market)	~		2,000
	The Kinetic Science Foundation	=		7,000
	The Mathew Project	1,000		1,000
	The Mission to Seafarers	1,000		~
	The Mix, Stowmarket	2,000		2,000
	The Nancy Oldfield Trust	=		2,000
	The Offshoot Foundation	1,000		2,000
	The Old Burians Trust (Gateway concert venue)	1,000		~
	The Open University	2,000		i
	The Panathlon Foundation	=		1,000
	The Princes Trust	os		2,000
	The Royal Hospital for Neuro-Disability	2,000		-
	The Salvation Army	2,000		2,000
	The Sick Children's Trust	1,000		2,000
	The St.EdmundsburyTrust	=		5,000
	The Urology Foundation	=		2,000
	The Wickham Market Partnership	=		1,000
	The Writtle Singers	1,000		=
	Thornage Hall (Orchard Lodge)	=		3,000
	Thorpe Woodlands Adventure Centre Trust	4,000		e
	Transforming Autism Project	2,000		a
	Trinity Methodist Church, Lowestoft	~		3,000
	Turn 2 Us	500		=
	Unity Film & Production	e		3,000
	University of East Anglia (Prostate cancer research)	2,000		=
	University of Suffolk Foundation	7,000		7,000
	Versus Arthritis	1,000		2,000
	Walberswick Village Hall	~		500
	Walking with theWounded	=		1,000
	Walpole St.Mary's PCC	3,000		=
	Walsham Le Willows Sports Club	500		~
	Waveney Gymnastics Club	=		1,000
	Welcome to our Future	1,000		1,000
	Whizz Kidz	1,000		=
	Willow Foundation	1,000		~
	Wings forWarriors	1,000		ae
	Young Epilepsy	=		2,000
	Young Lives vs Cancer	2,000		=
	Young People Taking Action	2,000		a
			661,550		590,100
			677,550		723,750
					28

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

8 Governance Costs

Governance Costs
	31 March
	2024	5 April 2023
	£		£
Legal/accountancy and administration charges	57,122		41,024
Auditor's remuneration for the audit of the Charity's Financial Statements	11,155		4,860
Other costs	_ 2,274		208
	_ 70,551		46,092

9 Employees

The Charity did not have any employees in either the current period or the previous year.

10 Trustees and Related Party Transactions

In the period the Charity paid legal/accountancy and administration fees of £51,487 to Birketts LLP (2023: £33,452). C R Boscawen is a consultant solicitor at Birketts LLP. L M Long is a Partner with Birketts LLP. The other Trustees did not receive any remuneration or reimbursement of expenses either this period or last year. At 31 March 2024 a balance of £41,455.80 (2023: £35,820) was due to Birketts LLP. Funds held in Birketts LLP client account totalled £21,520 as at 31 March 2024.

There is no ultimate controlling party of the Charity.

11 Fixed Asset Investments

Fixed Asset Investments
				Total
	Land &	Listed		31 March
	Property	Investments	Cash	2024	5 April 2023
	£	£	£	£	£
Market value at 6 April 2023	7,615	16,903,095	316,181	17,226,891	18,655,723
Additions	a	30,772,967	~	30,772,967	10,683,890
Disposals	~	(22,670,454)	~	(22,670,454)	(11,313,212)
Cash movement	~	~	51,726	51,726	(136,917)
Revaluation	~	509,314	~	509,314	(662,593)
Marketvalue31March2024	7,615	25,514,922	367,907	25,890,444	17,226,891

12 Debtors

----- Start of picture text -----
Legacy
----- End of picture text -----

----- Start of picture text -----
31 March
2024 5 April 2023
£ 2
1,139,550 35,000
29
----- End of picture text -----

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

13. Creditors: Amounts Falling Due Within One Year

Creditors: Amounts Falling Due Within One Year
	31 March 2024	5 April 2023
		Total
	£	£:
Cazenove Portfolio Management to 31/03/2024 (invoiced 30/04/2024)	22,735	33,625
CLA Portfolio Management to 31/03/2024	21,861	~
Legal/accountancyand administration	41,456	35,820
Accountancy& Audit	9,840	4,740
Charitable Donations	120,500	39,097
	216,392	113,282
Analysis of Net Assets
	Unrestricted	funds
	31 March 2024	5 April 2023
		Total
Funds at 31 March 2024 are represented by:	£	£
Investment assets	25,890,444	17,226,891
Current assets - cash at bank and debtors	1,397,916	113,017
Current liabilities	(216,392)	(113,282)
Totalnetassetsat31March2024	27,071,968	17,226,626

14 Analysis of Net Assets

15 Critical Accounting Estates and Judgements

The Trustees are of the view that there are no critical accounting estimates or judgements required in the preparation of the financial statements.

30

:

THE BELSTEAD GANZONI CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2024

16 Reconciliation of Net Income / (Expenditure) to Net cash flow from operating activities:

16	Reconciliation of Net Income / (Expenditure) to Net cash flow from operating activities:
			31 March 2024	5 April 2023
				Total
			£	£
	Net income/(expenditure) for the year (per SoFA)		9,845,342	(1,513,091)
	Adjustments for:
	Interest receivable		(145,185)	(70,402)
	Investment income		(379,321)	(325,421)
	Movement in Debtors		(1,104,550)	(19,456)
	Movement in Creditors		103,109	(2,167)
	Realised gains on sale of investments		(509,314)	662,593
	Netcash generatedfrom /(used in) operating activities		7,810,081	(1,267,943)
17	Analysis of cash and cash equivalents
			31 March 2024	5 April 2023
				Total
			£	£
	Cash at bank		258,366	78,017
	Cash equivalents		367,907	316,181
	Total cash and cash equivalents		626,273	394,198
18	Analysis ofchanges in net debt	Balance	Arising from	Balance
		6 April 2023	cash flows	31 March 2024
		£	£	£
	Cash at bank	78,017	180,349	258,366
	Cash equivalents	316,181	51,726	367,907
	Totalcashandcashequivalents	394,198	232,075	626,273

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