THE CHARLTON BEQUEST AND DISPENSARY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024

THE CHARLTON BEQUEST AND DISPENSARY TRUST
Contents
Pa
Trustees, Report
Independent Examiner's Report
Statement of Financial AGlivitie5
Balance Sheet
Notes to the Financial Statements
10-14
The following pages do not form part of the statutory a¢¢ounts.'
Schedule of Investments
15- 17
Purchase of Inveslrnenls
18
Sale of Investments
19

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 MARCH 2024
The trustees present their annual report and financial slalemenls of the charity for Ihe year ended 31 March 2024.
The financial stalemenls have been prepared in accordance with the accounting policies set out in note 1 to the
financial slalemenls and comply with the charity's Constilulion, the Charities Act 2011, the second edition of Ihe
Charities Slalemenl of Recommended Practice issued in October 2019 and the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 102).
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
PURPOSES AND AIMS
The objects of the Charity are the provision of accommodation for letting lo poor and sick persons and lo apply income
ol the Charity applicable for Telief in relieving sick and needy persons resident in the area of the former County Borough
of Tynemoulh.
ENSURING OUR WORK DELIVERS OUR AIMS
We review our aims. objectives and activilies each year. This review looks al what we have achieved and the
outcomes ol our work in the previous 12 month5. The review l¢xJks al the success of each key aclivily and Ihe benefits
that they have brought lo those groups of people we are set up lo help.
The review also helps us to ensure Ihal our aims, objectives and activities have remained focussed on our slated
purposes We have referred to guidanee contained In the Charity's Commission's general guidance on public benefit
when reviewing our aims and objectives and in planning our future aclivilies. In particulaf, the Trustees consider how
planned activities will conlribule lo the aims and objectives they have sel.
THE FOCUS OF OUR WORK
Our main objectives for the year conlinued lo be lo provide accommodation lo the sick and needy. The slrale9ies we
used lo meet Ihese objectives included..
Providing apartments lo the slck, needy and elderly.
Providing or paying for items, servlces or facilities that alleviate the suflering of the sick. needy and elderly.
HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT
Our main 8clivilies and who we lry lo help are described below. All our charilable objectives focus on helpin9 the sick
and elderly and ale undertaken lo further our charitable purp05e5 for the public benefit.
WHO USED AND BENEFITED FROM OUR SERVICES?
There have been no changes in the Charity's objects or policies dunng the year. The Charity attempts to achieve its
objectives by means of providin9 accommodation in the form of large properties divided into apartments. The
Trustees also listen sympathetically to requesls far help from Sick and needy persons.
ACHIEVEMENT AND PERFORMANCE
As a result of continuin9 investment the Charily's two properties are extremely well presenled and provide very
comfortable accommodation for their tenants after considerable upgrading over the last 10 years. The properties
continue to achieve extremely high levels of occupancy.

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED
31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE (CONTINUED)
Funding is provided from the Charity's own resources The properties were valued at 14 June 2023 al £1,535,000
(up from £1,280,000) and the Trustees have recognised this valuation in the 2023 financial slatemenls. The
Trustees Consider that the valuation remains appropriate for the 2024 financial slalemenls.
The Trust will continue lo consider and make Grants available lo the slck and needy in 2024125 in accordance
with the terms of the Trust Oeed.
The Trustees completed an extensive ongoing refurbishment of the Trust properties and had the revaluation
when the work was completed.
FINANCIAL REVIEW
RESULTS FOR THE YEAR
The statement of Financial Activities shows a surplus for the year before unrealised gainslllossesl on assets of £28.881
against a surplus of £29,593 in Ihe previous year. The market value of investments and properties resulted in a
£133,194 increase fof Ihe year (last year £23,466 incfeasel and as a result the value of the Charity's funds increased
by £162.075 10 £2,965,499.
PRINCIPAL FUNDING SOURCES
The Charity continues lo be self-fundlng and does not rely on funding from external sources.
INVESTMENT POWERS AND POLICY
Unreslricled Fund Investments are held by Wise Speke, Asset Management Division of Brewin Dolphin Securilles
under a Declaration of Trust and Ihe portfolio is reviewed conslanlly, The value ol inveslmenls increased from
£714,738 10 £775.713 over the year. Around 14010 of inveslmenls are held in Fixed Interest Securities and dated stock
as well as all of the Inveslmenls Irealed as Reslricled Funds which increased by £64.362 10 £593,167.
All cash belonging to the Charity and not needed for immediate working capital purposes is invested under the power of
the Trustees.
RESERVES POLICY AND GOING CONCERN
The Trustees ensure Ihal there are sufficient reserves lo meet the working capital and cash flow requirements of the
Charity.
PLANS FOR FUTURE YEARS
The Charilys future plan is lo continue lo maintain its properties to a standard that they provide first class
accommodation. The Trust will continue in appfopriale cases lo award grants to Ihe sick and needy.

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED
31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY NAME:
The Charllon Bequest and Dispensary Trust
CHARITY NUMBER:
1055160
OPERATIONAL ADDRESS:
112 Whitley Road
Whitley Bay
Tyne and Wear
NE26 2NE
BANKERS:
Lloyds Bank plc
69 Bedford Street
North Shields
NE29 OAU
INDEPENOENT EXAMINER
E J Hartshorne-Ferguson BA FCA
Bell Tindle Williamson LLP
The Old Post Office
63 Saville Street
North Shields
Tyne & Wear
NE30 1AY
TRUSTEES
The Iruslees who served during the year and since the year end were as follows..
Key Management Personnel: Trustees,
ELECTED TRUSTEES.,
R King (resigned 25 May 20231
V Beautyman (resigned 27 June 20231
Abbot
B Steward
IHay
P Slephenson
N Maughan
M Brandrilh
G Slewart {appointed 27 June 2023)
D Nichol lappoinled 27 June 2023)
Key Management Personnel: Informed Management
HONORARY TREASURER:
D Nichol
MINUTE SECRETARY:
K Kenny

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED
31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The Charity's objects and regulations are regulated by a revised Trust Deed dated 21 O¢lober 1994 and under that
Deed is consliluled as an unincorpofaled association. The original Deed was dated 13 August 1957.
RECRUITMENT AND APPOINTMENT OF TRUSTEES
There are eight Trustees consliluling the body of the Trust. Each Trustee 15 appointed for a five year term and subject
lo re-appoinlmenl after Ihal lime. The Tru51 endeavours lo hold four meetings a year. Contact and consulialion with
Trustees has been maintained by telephone and email lo ensure that Ihey are involved in decision makin9 and kept
informed of Trust matters. Three Trustees conslilule a quorum. Declaration and willingness lo act as a Trustee are
Signed in the minute book. Mosl traditional skills (business, financial, é¢Jucalional and management) are represented
on the Board. Efforts are made lo recruit Trustees who possess the skills which the organisalion requires and
membership is kept under revlew by the Board.
TRUSTEE INDUCTION AND TRAINING
Most Boafd members are already familiar with the practical work of the charity having received a members. handbook
and an opportunity lo spend lirne in the organisalion.
The induction and training process for new Board members covers..
the obligation5 of the Trustees
the main documents which sel out the operational framework for the charity
resourcing and the current financial position
fulure plans and objeclives
The tsvo properties owned by the Trust are run as Almshouses. They are operated by the Trustees under the Slandards
of Almshouses Management which is a guide lo good practice for Tnjslees and Clerks lo Trustees of Almshouse
Charities. All Trustees have a copy ol Ihis guide and are also laughl by precepl and example. Regular welfare visits lo
residents are in force.
ORGANISATION
The Chadlon 8equesl and Dispensary Tru51 is managed by a 8oard of Trustees which meel al least 4 times a year.
They are legally responsible for the organisalion and for the strategic direction of the organisalion. Under the direction
and sup6rvision of the Chairman individual Trustees are delegated tasks and responsibilities and this ensures a
smooth day lo day running of the organi5alion. The Chairman, l Hay, is responsible for the day lo day management of
the Charity.
RELATED PARTIES
Nichol Goodwill Brown Ltd provide aGcounlancy and adminislralive services lo the Trusl. D Nichol. Honorary
Treasurer ol the Trust, is a director of that company,
RISK MANAGEMENT
The Trustees have conducted a review of the major risks lo which the organisalion is exposed. This assessment of
risk is reviewed and updated annually. Where appropriale. systems and procedures have been established lo
mitl9ale risks. External risks are limited by means ol a cautiou5 investment policy and the use of Brewin Dolphin as
investment advisors. Inlefnal control risks are minimiseij by the implemenlation of robust pollcies and procedures
which safeguard the resources and reputation of the Of9anisalion.

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 MARCH 2024
TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The Tiuslees are iesponsible for preparing a Trustees Annual Report and financial slalements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable lo charities in England and Wales requires the Charity Trustees to prepare financial slalemenls for
each year which give a true and fair view ol the slate of affairs of the Charity and ol the incoming resources and
application of resources. of the Charity for that period.
In preparing these financial slalements, the Tru51ees are required lo..
select suitable accounting policies and then apply them consislenlly..
observe the methods and principles in the Charities SORP..
make sound judgements and eslimale5 that are reasonable and prudent.,
slate whether applicable accounting standards have been followed. subject to any material departures that
musl be disclosed and explained in the financial slatemenls.. and
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Trust
will continue in business.
The Trustees are responsible for keeping proper accounting records Ihal disclose with reasonable accuracy al any lime
the financial position of the charity and lo enable them lo ensure that the financial 51aiemenls Comply with the CharS1ies
Act 2011, the applicable Charities (Accounts and Reports) Regulations. and the provisions of the Conslilution. They are
also responsible for safeguarding the assets of the chafity and taking reasonable steps for the prevention and detection
of fraud and other irregularilies and to provide reasonable assurance Ihal..
The Charllon Bequest and Dispensary Tryst is operating efficiently and effeclively,.
All assets are safeguarded against unaulhorised use or disposllion and are properly applied.,
Propef accounting records are maintained, and financial informalion used within The Charlton Bequest and
Dispensary Trust is reliable.. and
The Charllon Bequesl and Dispensary Trust complies with relevant laws and regulations.
STATEMENT OF DISCLOSURE TO OUR INDEPENDENT EXAMINER
The Trustees who served during the year and up to the dale of this report are sel out on page 3.
In so faT as the Trustees are aware al the time of approving our Trustees. Annual Report..
Ttte￿ is no relevant information, being infomialion needed by the independent examinef In ¢onneclion with
preparing their report, of which the charity's independent examiner is unaware.. and
The Trustees, having made enquiries ol fellow Trustees Ihal they ought lo have individually taken, have each taken
all the steps that helshe is obliged lo make as a Trustee in order lo make themselves aware of any relevant
information and to establish Ihat the Charity's independent examiner is aware of thal infofmation.

THE CHARLTON BEQUEST AND DISPENSARY TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED
31 MARCH 2024
ACCOUNTING POLICIES
The accounting policies of the charity have not changed duririg the year. The Trustees confirm that the financial
slalements comply with Ihe requiremenls ol the Charity's governing documenl.
INDEMNITY INSURANCE
The Charity does not hold insurance cover in respect of the Trustees of the Charity.
POLICY ON PAYMENT OF CREDITORS
11 is the Charily policy, in respect of all suppliers lo sellle the terms of paymenl when agreeing the tefms of each
Iransaclion, lo ensure that suppliers are made aware of the terms of payment, and abide by the terms ol payment.
INDEPENDENT EXAMINER
During the year E J Hartshorne.Ferguson BA FCA of 8ell Tindle Williamson LLP was appointed as independent
examiner and has expressed her willingness lo continue in that capacity.
This report was approved by the Tru51ees on 21 January 2025.
Signed on behalf of the Tru51ees
IHay
Chalrman

THE CHARLTON BEQUEST AND OISPENSARY TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARLTON BEQUEST AND DISPENSARY
TRUST
I report on the financial slalemenls for Ihe year ended 31 March 2024 which are sel out on pages 8 10 14.
Respectlve responsibilities of the Trustees and Examlner
The Charity's Trustees are responsible for the preparation of the financial stalemenls. The Charity's Trustees consider
that an audit is not required for Ihis year under Section 144121 of the Charities Act 2011 (the 2011 Acl) and Ihal an
independent examination is needed.
11 is my responsibility to..
examine the financial statements under section 145 of the 2011 A¢l.'
follow the procedures laid down in the general directions given by the Charities Commission under section 145151
Ib) of the 2011 Act. and..
slate whether particular matters have come lo my atlenlion.
Basls of Independent Examlner's Report
My examination wa5 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 Trust and a comparison of the financial slalemenls
presented with those records. 11 also includes consideration of any unusual items or disclosures in Ihe financial
slalemenls, 8nd the seeking of explanations from the Trustees concerning any such matters. Th8 procedures
undertaken do not provide all the evidence that would be required in an audil, and, conseq¢Jenlly no opinion is given as
to whether the financial slalemenls present a 'true and fair view and the report is limited lo those matters set out in the
slalemenl below.
Independent Examiner's Statemont
In connection with my examination, no maller has come lo my allenlion..
which gives me reasonable Cause lo believe that. in any material respect, Ihe requirements..
a) lo keep ac¢ounling records in accordance with section 130 of the 2011 Act.. and
b) lo prepare financial slalemenls which accord with the accounting records and lo comply with the accounting
requirements of the 2011 Act have nol been mel, or
lo which, in my opinion, allenlion should be drawn in order lo enable a proper understanding of the financial
slalemenls to be reached.
E J Hart$horne.Ferguson BA FCA
Bell Tlndle Willlamson LLP
Chartered Accountants
The Old Post Office
63 Saville Street
North Shields
Tyne & Wear
NE30 1AY
tJL£P. . /
Charity Number 1055160
21 January 2025

THE CHARLTON BEQUEST AND DISPENSARY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED
31 MARCH 2024
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Notes
INCOME:
Bank interest received
Investment income
380
20,111
380
20,111
18,992
Income from charitable activities
Property Income
47 Linskill Terrace - Gross rents
63 Percy Park Road - Gross rents
29.634
30,640
29.634
30,640
26,865
23,830
TOTAL INCOMING RESOURCES
80,765
80.765
69,687
EXPENDITURE
Expenditure on Charitable Actlvities
Property Expenses..
47 Linskill Terrace
63 Percy Park Road
Governance costs
29,915
10,628
10,447
29,915
10.628
10,447
8.603
14,399
13,294
50,990
50,990
36,296
NET INCOMING RESOURCES
BEFORE OTHER RECOGNISED
GAINSIILOSSESI
Realised losses on disposal of
investments
29,775
29,775
33,391
1894}
18941
{3,7981
SURPLUS FOR YEAR
Unrealised gain on
investment assets
Property revaluation surplus
28,881
28,881
29,593
68,832
64,362
133,194
{56.841}
80,307
NET MOVEMENT IN FUNDS
97,713
64,362
162.075
53.059
RECONCILIATION OF FUNDS
Fund balances brought forward
at 1 April 2023
2,354.618
448.806
2,803,424
2.750,365
Fund balances carried forward
at 31 March 2024
£2.452,331
£513,168
£2,965,499
£2.803,424
The noles on pages 1010 14 form part of these financial slalemenls.

THE CHARLTON BEQUEST AND DISPENSARY TRUST
BALANCE SHEET AS AT 31 MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible fixed assets
Investments
Sinking fund investments
1.535,000
775,713
593,167
1.535,000
714,738
528,805
2,903,880
2,778.543
CURRENT ASSETS
Sundry debtors
Cash al bank and in hand
1,415
65,184
2.010
52,662
66.599
54,672
CREDITORS: Amounts falling due
within one year
Accrued liabilities
14,980)
129.7911
NET CURRENT ASSETS
61,619
24,881
NET ASSETS
£2,965,499
£2.803,424
CAPITAL FUNDS
Unreslricled
Reslricled
2,452.331
513.168
2,354,618
448,806
TOTAL FUNDS
£2.965,499
£2,803,424
These accounts wore approved by the Trustèe$ on 21 January 2025.
Chairman
D Nichol
Honorary Treasurer
The notes on pages 10 10 14 forrn part ol these financial stalemenls.

THE CHARLTON BEQUEST AND OISPENSARY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024
ACCOUNTING POLICIES
Basis ol Pre
aration
The financial 51alernents have been prepared Ltnder the historical cost convention. as modified by the
revaluation of fixed assets, with items recognised al cost or transaction value unless otherwise slated in the
relevant notes lo Ihe financial slatemen15. The financial slalemenls have been prepared in accordance with
Ihe second edition of the Charities Slalemenl of Recommended Practice issued in Oclober 2019, Ihe FinanGial
Reporting Slandard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act
2011.
The charity conslilules a public benefit entity as defined by FRS 102.
Pre
aration of the Financlal Statements on a Goin
Concern 8asls
The Trustees consider that there are no material uncertainties about the Charity s ability to continue as a
going concern. There are no significant judgements or key sources of eslimalion uncertainty that affect the
financial slalemenls,
Cash Flow Statement
The Trustees have taken advantage of the exemption from including a cash flow slalemenl In the financial
slal8menls on the grounds that the charity is small.
Incom
All income is recognised once the charlly has enlitlemenl to the income. it is probable Ihal the Income wlll
be received and the amounl of incorne receivable can be measured reliably.
Don8lions and grants are recognised when the ¢harity has been notified in wriling of both the amount and
Ihe settlement dale. In the event that a donation is subject lo conditions that require a level of
performance before the charity is enliiled lo Ihe funds. the income is deferred and not reco9nised until
either those conditions are fLJlly mel, or the fulfilmenl of those conditions is wholly within conliol of the
charlly and il is probable that those conditions will be fulfilled in the reporting peiiod.
Investment income Is included when receivable.
Incoming resources from charitable activities are accounted for when receivable.
Interest on funds held on deposit is included when receivable and Ihe amount can be measured reliably by
the charity.. this is nom)ally upon notification of Ihe interest paid or payable by Ihe bank. Divldends are
recognised once the dividend has been declared and nolificalion has been received of the dividend due.
endlture and Irrgcoverablo VAT
ExpenditLtre is recognised once there Is a legal or conslrucllve obligatlon lo make a payment lo a third party.11
is probable that selllemenl will be required and Ihe amount of the obligalion can be measured reliably.
Expenditure is classified under the following activity headings..
Expenditure on charitable activities includes the costs of performances, events and olher activities
undertaken to further the purpose of the Charity and their associated support costs.
Govemance costs includes those costs associated with meeting the conslilulional and slalutory
requirements of the charity and include Ihe Independent examination fee5 and cosls linked to the
strategic management of the Charity.
Irrecoverable VAT is charged as a cost againsl the aclivlty for whl¢h Ihe expendllure was incurred.
10

THE CHARLTON BEQUEST AND DISPENSARY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024 Icontinuedl
ACCOUNTING POLICIES {continuedl
ort Costs
Support costs are those functions that assist in the work of the charity bul do not directly undertake charitable
activit￿e$ Support costs include office costs. finance and governance costs which support the charity,
activilies. These ¢0515 have been included within expenditure on charitable activities.
Fund Accountin
Unrestricted funds are available for use al the discretion of the Trustees in furiheran¢e of the general
Objectives of the Charity and are funds which have not been designated foi other purposes.
Reslricled funds are lo be used in accordance with specific restrictions imposed by Iheir donors.
Tan
Ible Fixed Assats
Individual fixed assets are capilalised al cost, where acquired, or lair value as determined by the Trustees
and are depreciated over their eslimaled useful economic lives.
Llsted Investments
Listed investments are shown al market value.
1.10 Fixad Assèt Invoslments
Investments are a form of basic financial instrument and are initially recognised al their Iransaclion value
and subsequently measured al their fair value as al the balance sheet dale using the closing quoted market
price. The slalemenl of financial activities include5 Ihe nel gains and losses arising on revaluation
Ihroughoul the year.
1.11 Deb
or
Prepayments are valued 31 the amount prepaid nel of any trade discounts due. Accrued income is ￿COgnised
al the selllemenl amount due after any trade discounl offered.
1.12 Cash at bank and In hand
Cash al bank and in hand comprises a bank current account and a small pety cash balance.
1.13 Crodltors and Provisl
Creditors are recognised where Ihe charity has a presenl obligation as a result of a pasl event that will
probably result in the transfer of funds lo a Ihird party and Ihe amount due lo sellle the obligation can be
measured or estimated reliably. Creditors are normally recognised al their selllemenl amount after allowing
for any trade discounts due.
1.14 Financial Inslruments
The charity only has financial asse15 and liabilities ol a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured al their
selllemenl dale, with the exTrplion of fixed asset inveslrnenls which are subsequently measured al their lalr
value as at the balance sheet date using the closing quoted market price.
11

THE CHARLTON BEQUEST AND DISPENSARY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024 Icontinuedl
GOVERNANCE COSTS
2024
2023
Governance costs comprise..
Independent Examiners fee
Adminislralion and accounlan¢y
Honorarium and donations
Subscriptions
Professional Fees {managing surveyor)
Other
Investment Portfolio Management Fees
Propety valuation fee5
948
1.722
300
305
878
1,680
300
229
1.820
855
6,832
900
290
6,882
£10.447
£13,294
LOSS ON SALE OF INVESTMENTS
Unrestricted
Funds
2024
Restricted
Funds
Total
023
Proceeds ol sale
31 March 2023 market value
70.403
171.2971
125,858
(129,6561
Loss on sale of inveslments
£(8941
£13,798)
12

THE CHARLTON BEQUEST AND DISPENSARY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED
31 MARCH 2024 (continued}
FIXED ASSETS
47 Llnskill
Terrace
63 Percy
Park Road
Total
COSTNALUATION
Al 1 April 2023
Refurbishments at cost
Revaluation surplus
595,000
940,000
1,535,000
Al 31 March 2024
595,000
940,000
1,535,000
NET BOOK VALUE
At 31 March 2024
£595,000
£940,000
£1.535,000
At 31 March 2023
£595,000
£940.000
£1,535,000
The freehold properties were revalued on 14 June 2023 by NE Residential, Chartered Surveyors, on an existing use
open market value basis and following the completion of significant refurbishment work. The Trustees agreed that it
was appropriate to reflect the valuation in the 31 March 2023 accounls and in view of the substantial upgrade work
carried out on both properties on a regular basis, they are of the opinion that any provlslon for depreciation would be
inappropriate.
INVESTMENTS
Investments comprise equities, government securities and other fixed interest securitles which are shown al market
value of £775,713 (2023 £714,738). The split is as follows..
2024
UK Fixed Interest
UK Equities
Overseas Equities
Allernalive Investments
Cash
108,601
133,947
405,160
123,314
4,691
90.454
147,645
353,104
96.001
27,534
£775,713
£714,738
SINKING FUNDS
The sinking fund is represented by:
Orlglnal
cost
024
Orlglnal
Cost
2023
Market
valuè
2024
Market
value
2023
Nominal
value
Charity Commissioners
{a}
£1 Accumulative shares
{47 Linskill Terrace)
432.21
590
590
111,107
99,050
(b)
£1 Accumulative shares
(63 Percy Park Road)
1,874.36
260,657
260,857
481.835
429,549
{c}
£1 Income units
11.00
225
206
£261,247
£261,247
£593,167
£528,805
13

THE CHARLTON BEQUEST AND DISPENSARY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024 (continued}
DEBTORS
2024
2023
Prepayments and accrued income
£1,415
£2,010
CREDITORS: amounts falling due
withln one year
2024
2023
Accruals and deferred income
£4.980
£29,791
FUNDS
2gLILd Restrlctèd
Balance al 1 April 2023
Surplus for year
Unrealised gain on investment assets
2,354.618
28,881
68.832
448,806
84,382
Balance al 31 March 2024
£2,452,331
£513,168
Unrestricted Funds - these funds can be used in any way by the Trustees in accordance with the objectives of the
charity.
Restricted Funds are lo be used in accordance with specific restrictions imposed by their donors.
10.
RELATED PARTY TRANSACTIONS
Included wilhin governance costs is £1,722 (2023 £1,680) paid lo Nichol Goodwill 8rown Ltd in respect of
accounlancy and additional administration seryices. D Nichol, honorary Ireasurer and Iruslee. is a director of that
company.
11.
ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY
MANAGEMENT PERSONNEL
The charity had no paid employees during the current or previous financial year.
The charity considers ils key management personnel comprises of the trustees.
Trustees are reimbursed for any expenses incurred in connection with the aclivilies of the Charity. The aggregale
amount reimbursed in the year was £99 {2023 £2,393) to one Trustee in respect of travel and telephone.
An honorarium of £300 (2023 - £300} was paid for secretarial services.
The charity Iruslees were not paid and did nol receive any other benefits from employment with the Charity in the year.
14

The Charlton B•qu•sl aftd Oispons•ry Tru8t
Schedule of Inveslm8nl• lor tha year •nded
31 March 2024
Orlyinal
cost or
Origlnal
COSt Of
Markel
value
Market
value
Nomlnal
valuatlon
valuatlon
UK BONDS
Bomd Fund$
UK Govl Tfeasury eond 5% 2025
GCP Inlrastruciure Ip ord
Tw¢nty Four AM Corp 8ond £1
Vanguard Inv Sef UK Gvi Bond Index Insi Pls Inc
I Shares 111 pl¢ market 130XX Corp
TOTAL FOR UK BONDS
8395.91
12,000
250
100
8.759 87
14.829.00
25.261 00
f1.Y800
8.619 06
10.224 00
20.487 SD
8.924 39
19.747 65
68,002 60
8.759.87
14,829 00
25,261.QO
11.346.00
19.637 00
79,832 87
8.444 28
8,676.OD
21,2fjQ QO
&.600 62
20.Q43 10
67,024 00
19,637.W
79.832 87
OVERSÈAS BONDS
Vanguard Inv Sor US Govt B¢nd
enderson Inv Fixed Ini Monlhty Inume Janus
Robeco Lux SA Gthal Credits 18H
TOTAL FOR OVERSEAS 8ONO$
220
32.203
65
1>.902.77
21.131 eo
7,258.00
48.291 77
19,092 33
16.$23 22
5.061.15
41.576 70
21.13100
7.258.00
28.J89 00
16.$13 00
S.928 40
22.451 4Q
UK EauinES
Royal Duteh Sh•ll'B' Ord Eui O OT
Croda Ini•m4ii¢n•l Ofo sharei
Rio Tinio ord Iop
Exp¢rian ord USSO.10
Diageo 28p ord
Taybr Wimpey Ip ord
VniI8ver pl¢ 3 1111p Ofd
Hal•On plc ord £0 01
GKS plc ord £0 3125
Relx ple £0 1444
Compass GfOUP I105p ¢rd
Nalional Gnd ord 12 431289p
Leo31 and Gèn•ral ord Z Sp
Pr￿1*ni181 5p otd
Sehr¢ders VTG Sh$ £1 S lof I feofg
ES RIv•f & MercanliPe UK Equity Inc
Kkrcanlil¢ Inv Tnjsl plc 25p ord
70D
10.11800
7.867.00
7.393 OQ
7.937.00
4.239 00
3.Q70.00
8,0SJ.OQ
477.00
16.159.50
11.04660
10.956 00
8,512.00
9.396.40
2.379 00
12.570.00
2.254 00
90.11800
786700
7,393.00
18.375 00
.)JJ 40
10.034 00
170
200
320
4.239 00
7.606.
2.741.00
11,926.50
2,331 70
9.588 16
13.011 20
12.590.66
5.863 00
7.832 00
2.QOO
300
700
560
3.070.00
8.053 00
477 tK)
2.035 00
7.22100
4.968 00
8.l￿2.40
2.035.00
7.221.00
4.988.00
2.784.00
6.746 00
9.948.4D
11.018.86
6,030,75
7.187.00
8,92fj.20
5.409.60
7.843.10
10,025.00
S42
550
3,000
810
1.178
3.003
5.000
2.784 00
6.746 00
8.62100
3.204 00
6.850 00
8.58$ 00
3.204.00
6.850.00
8.585.00
4,428.82
11.450.00
TOTAL FOR LIK EQUITIES
100.188 00
14T.644 81
83.6JO.00
133.946.88
15

The Charlton Bequo$1 and Di$p*n$4ry Trust
Scbedul• 01 IN￿$t￿￿ntS lor tha year *nd•d
3tIG312024 l¢oniinuedl
Orlglnal
CO8t or
Market
vJlv•
cost or
Martet
value
Norninal
v&luation
31.
valuitton
1.03.24
NOR TH AMERICAN EQUITIES
Slryk•r Corp Com Stock SO 10
Artemi5 Fd ￿r$ V$ Select Insiil
JP Morgan Fbn¢J5 Llé US Equity In¢
I Sh•r¢g S&P 500
Bookin9 Holdings ID¢ Com $0 008
Van9uard Funds plc SSP 500 UCITS
Fiaelity UCITS ICAV US Ou21ily Incomo
TOTAL FOR NOR TH AMERICAN EQUITIÉS
33
17.000
20.000
1.700
7.187.85
35.227 00
25.410.00
31.203.00
8.176.00
41,876.00
7.61998
42.054 60
63,976 08
53.129.25
8.$81.84
55,828.00
7.187.85
35.227 00
11,67988
31.203.QO
8,176.00
41,876.00
15.222.32
150 $72 OS
9.345 79
80.506 40
32.580 00
70,577.63
11.48390
67,217 15
17,822 00
269,S32 87
850
2,240
149.079 BS
231.189.75
EURopeAN EQUITIES
Blackrock FM Ltd Euro Dynarn￿ FD Inc
8lackroc* FM Ltd Conll Euro Inc Fund
5.000
76.000
5.814.00
23,439 00
13.219.14
29.14707
5.814.00
23,439 00
15.428.57
31.092 89
TOTAL FOR EUROPEAN EQUITleS
29.253 00
42.356.21
29.253.OD
46.521.26
JAPANESE EQUITIES
&G Inw Funds Japan
Bal11￿ Giflord Japan•$e B N4v l)c
TOTAL FOR JAPANESE EQUITIES
17.900
1.250
23.017.92
26,663.84
18.4e5 00
18.465 00
19.362,50
19.3fj2 50
23.017 92
26.663 84
ASIA PACIFIC EQVITIES
Fir51 SeniierlSiev4art Invr$ Asia
Bny Mellon N¢wi¢n Asi& Inc
s.joo
28.000
14.252.37
27,399.00
16,459.85
31,780.00
14,252.57
27.399.00
17,073.63
32.821.60
TOYAL FOR ASIA PACIFIC EQUITIES
41.851.57
48.239.85
41.651.57
49,895.25
EMERGING MARKET EQUITIES
JP Morgan Ass*1 Man Emg Mk15
TOTAL FOR EMERGING MARKET EQUITIES
18.000
17.448.00
11,448.00
11.94480
11,944.80
11.448.00
11.448.00
12.546.00
12.546.lJO
GLOBAL INVÈSTMEP4rs
Fr•nklin Tmtyiin Clarbnd9e Gbl Inf• knc
Scottish Mortgago Inv TNSI 5p
10.000
1.000
10.020.00
2.679 00
13.230.00
6.786 00
10.020.00
2.679 00
I2.￿0.00
8.940.00
TOTAL FOR GLOBAL INVESTMENTS
12.699 00
20,016
12,899.00
21.29000
16

Tho Charlton Bequest and Dispensary Trn$t
Schèdule ol In¥ostm8nts lor Ihe ye•r •hd•d
3110J12024 Icontlnutdl
Orlglnal
eO8t or
cost or
M•rktrt
Nomin•l
valuation
valuallon
valuo
ABSOLUTE RETURN INVESTMENTS
JP Morgan I¢VC Fund Global M•¢ro
BNY Mellon Fnc Mangr Gl Dynamic
Muzinich funds Gbl Tactical Hgd S In¢
P?r$¢nal Assets Tnjsl pt eo 125
TOTAL A880LUTE RETURN INVESTME14TS
4264 321
15.000
96.61
7.047.60
14.536 00
9.689.00
21.981.CM)
53.253.fl)
6.656.61
12,888.03
9,17627
24,025 00
52,745.85
14 536.00
13.060 30
9.689 00
21.981.00
46.206.00
9 032.26
23.875 00
5,000 00
PROPERTY
Plackrock FU Lld I shai•s Prop S8¢$
10,500
19.302
17.153
19,302
17.71559
TOTAL FOR PROPER TY
19.302
17,153
19.302
17.715.S9
OTHEA INVESTMEPITS
HICL Inlraslrucluie plc ord £0 0001
TOTAL FOR OTHER INVESTMENTS
14.720 43
14.720 43
12.8e5.00
12.865.00
14.720.43
14,720 43
1Q.491.20
10,491 20
CASH PRODUCT
81ackrock Insiilulional C•8h Senes Pr•mi•r
TOTAL FOR CASH PRODUCT
27.073
21.093.00
21.093 00
21.073 00
21.073.DQ
CASM
Cash deposil and dealing account
Inmme •¢counl
25.678.09
1.856 31
25.6Y8.09
1.856.37
2.949 19
1.74185
2.949 19
1,741.85
TOTAL CASH
27,534.46
27.534.46
4,69104
4.691.04
TOTAL FOR ALL INVESTMENTS
578.709.t8
714.737.81
593.456.25
775,713.48

THE CHARLTON BEQUEST AND DISPENSARY TRUST
PURCHASE OF INVESTMENTS FOR THE YEAR ENDED 31 MARCH 2024
DATE
NAME ANO SHARE
1210412023 FDDI Vanguard US Govt Bond
3010512023 FDDI Vanguard US Govt Bond
3010512023 Fidelity UCITS US Quality Income
3010512023 JP Morgan ICVC Fund Global Macro
2510812023 818ckrock Ins. Cash Premier
0110912023 M&G Japan Inv Funds
NO.
170
50
2,240
4,264.321
21,073
17,900
COST
15.426.15
4,476.62
15,222.32
7,047.60
21,093.00
23,017.92
86,283.61
18

InvostmeDt Salei10r the yt•i*idEd
5alesPrOIEtds
Net gf
CDrnml5510
9.394 32
011¢snil 31103/IOIJ
arket ¥•￿1
on
M4rl*tV4lu•
Coit
1210412043
Piuden1￿15
JPkloryiDFundlCVC US Equity
VS50 10
8.6211Th)
532
23.403 012
139141
117 60
2210812013
3JIQ81202)
8.629 60
7.9J7 00
.51100
15.367 50 18.4¥5 00 19.362 50
692
71.296.?5 21649
19