Charity number: 1074776
THE R C SNELLING CHARITABLE TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

THE R C SNEWNG CHARITABLE TRUST
CONTENTS
Page
Reference and administrative detalls of the Charity. its Trustees and advisers
Trustees. report
Independent auditors, report on the flnancial ststements
9-12
Consolidated statement of financial activltie5
13-14
Con501idated balance sheet
15
Charity balance sheet
16
Consolidated statsment of cash flows
17
Notes to the financial statements
18-45

THE R C SNELLING CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 APRIL 2024
Trustees
N R Savory
S Barratt
P Buttinger
S Phillips
R A Cogman
T Wise
D G M Jarrold
M Gook, Employee nominated Trustee
P G Giles
Charity Teglstered
number
1074776
Prlnclpal offiGe
Laundry Lane
Blofield Heath
Norfolk
NR13 4SQ
Independent audltors
MA Partners Audrt LLP
Chartered Accountants
Statutory Auditor
7 The Close
Norwich
Norfolk
NR14DJ
Bankers
Bank of Scotland
33 Old Broad Street
London
BX2 1LB
Investmènt Advlsors
Barratt & Cooke
5 Opie Street
Norwich
Norfolk
NR13DW
Page 1

THE R C SNELLING CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2024
The trustees present their annual report together with the audited financial statements of the Group and the
Charity for the year 1 May 2023 to 30 April 2024. The trustees confirm that the Annual Report and financial
statements of the Charity comply with the current statutory requirements, the requirements of the Charity's
governing document and the provisions of the Statement Df Recommended Practice (SORP), applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS1021.
Objectlves and activities
a. Policies and objectlves
The objectives of the Charity are to hold capital and income lo provide charitable assistance in the form of
donations to Individuals, organisations and Gharttable institutions with a medical, educational, Christian, welfare
or environmental connection within 30 miles of the village of Blofield in Norfolk. The trustees confirm that they
have referred to the guidance contained in the Charity Commission's general guidance on public benefit when
reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for
the year.
b. Grant-maklng pollcles
Grants are awarded to indivlduals, registered charities and organisations based on th8 level of need and within
the geographical constraints imposed by th8 Deed of Settlement.
c. Main aGtivltles undertaken to further the Charity's purposeg for the publlc benefit
The Charity furthers its charitable purposès for Iha public benefit through its granl-making policias as identified
above.
Achievements and performance
a. Key flnancial perfomianca Indicators
Charlty
2024
2023
No.
Unrestricted income for year
187,376
173,775
Net income before transfers I grants
171,150
154,166
Grants made
Local communty
other
19
68
87
4,785 14
199975 64
204 760 78
3,700
185 000
188 700
Average award
Local community
other
252
2,941
264
2,891
The trustees are pleased to report that despite the worldwide cost of living crisis and volatile Stock market the
level of charitable giving during the year in terms of overall spend and average amount awarded have both
increased. The trustees also approved a greater numbèr of grants 87 (2023.. 78), an increase of 11.2Q/o.
Page 2

THE R C SNELLING CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Achievements and perforniance (continued)
Group
The Group has adopted FRS 102, which exposes results lo the volatility of the stock market. Consequenlly, the
adjusted realised profits financial key performance indicators below have been adjusted to discount the
unrealised revaluation effects.
2024
2023
Income from trading activities
15.821.989
15.913,104
Net surplus on tradlng endowment
255.065
61,284
Unrealised valuation profits l (lossasl
134,TT1
(132,755)
Adjusted realised profits
120,294
194,041
Percentage
1.22Q
The Group Gontinues to operale in competitive markets and is seeking to grow Its share of those markets. The
Charity's aim is for the Group to be self financing and, unless there is a pressing need within the Charity, the
trustees intend, in the short term. to retain funds within the Group to achieve this aim. Since the year end the
Group has made gift aided payments totalling £90,000 to the Charity.
b. Review of activitleg
Charity
The principal activity of the Charity Is the management of its portfolio of investments and properties to generate
income for distribution in the form of grants in accordance with its trust deed.
Th8 trustees have transferred the properties and shares received to the expendable endowment fund to build
fund that will produc6 income to support charitable causes in the fLrture.
The properties are valued and let on an open market value basis and investments are revalued annually to
market value.
The Charity received a number of applications during the year, 87 (2023.- 78) of which were successful In
receiving grants from the trustees.
It is not the policy of the trustees to undertake direct fundraising actwities. The main sources of funding are
investmènt inccme: donations from the Snelling Group and rental income derived from the Charity's properties.
As the level of investment income and rents receivable are determined by market forces, these factors place
natural limitations on the activities that can be carried out by the Charity in each financial period
Page 3

THE R C SNELLING CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Achievements and performance {continued)
Group
The principal activities of the Group comprise management of investments; the provision of integrated audio
visual systems arid Gommunications technology and the rental, retail and seniicing of television5 and home
appliances.
The Group op8rates in highly competittve markets and has continued to grow its presence in both the retail and
commercial sectors.
The Group has worked hard during the last year and the directors are satisfied with the resutt5 given the volatility
of the economic and political climate throughout the last year.
Since the year end, the group has continued to tradè in an environment which has been challenged by the War
between Russia and Ukraine which has caused a World wide cost of living crisis, rising interest rates and
commodity prices. Labour won the General Election in July and a direct impact of their first budgel will be to
increase the Groups, payroll costs in 2025. The further effects on markets served by the Group are still to be
determined and the Group remains cautious.
Notwithstanding the challenges brought about by th8 current economic and political climate, the Group remains
positioned to handle a period of significant growth in both the educational sector and by development of the
ccrporate sector. The retail sector. even with its increased online and social media presence, will remain
challenging.
The Group ha5 adopted FRS 102, which expDses resulls lo the volatility of the stock market.
Financial Teview
a. Going concern
After making appropriate enquiries, the Trustees have a ieasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements.
b. Reserves policy
Charity
It is the policy of the trustees to maintain unrestricted reseNes which provide suff icient funds to cover grants and
donations, and management and administration costs on an annual basis.
Property and investments both r8ceived as a donation cr acquired are transferred to the expendable endowment
fund and will be used tc generate future income.
Group
The Group is still establishing itself in ils respective markets and requir8s substantial working capita5 to grow.
The trustees have agreed, subject to the needs of the Charity, to retain funds forworking capital purposes within
the Group, until it can financially support itself. Sinc@ the yearend the Group has made gifted aided payments of
£90,000 to the Charity.
At 30 April 2024, total funds stood at £14,773.697 (2023.. £q4, 566, 75n.
Page 4

THE R C SNELLING CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
c. Principal fundlng
The main Source of income forthe Charity is investment income.
d. Matarlal inv&stments policy
The Charity's investment properties are let on long leases on a tenant repairing basis. The rent is based on op8n
market value and subject to periodic reviews on an upwards only basis.
The Charitvs Investment Advisors and Managers {Barratt & Cooke) are instruct8d to invest to maximise the lotal
return on the expendable endowments within the constraints of a medium risk. balanced account approach with
no one holding of equity exceeding a 5/0 cap. The high levels of stock market volatility and the continuing
uncertainty regarding world economic prospects continue to make the management of investments difficult.
The Charity is a long-tem investor and on professional advice continues to hold a mlxed portfolio of equities,
bonds, cash and other investments designed to provide a stable level of income and the p058ibility of investment
gains.
Tha Income return on listed investments for the year was 2.89oh (2023.. 3.02%). The annual capital return of the
combined portfollo was a growth In value of 2.570/0 (2023.. Trduclion 019. 76¢A) against a growth in the FTSE all
share index of 3.42010 (2023.. growth of 2.36%).
Page 5

THE R C SNELLING CHARITABLE TRUST
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Structurei governance and management
a. Group Ethos and Core Values
During the prior year, the Trust in conjunction with gr¢WP employees, defined rts core values as being
Professional. Trustworthy and Friend￿ under the culture and ethos of being Determined to do the Right Thing.
These values are under pinned by both knowledge and experience. Videos were produced to record the
processes involved and these now forrn part of the formal Staff induction process to ensure that they endure to
future generation5.
b. Constltutlon
The Charity was created by a Trust Deed dated 13 January 1999 and registered as a charity on 22 March 1999.
The Charity was established by an inltial gift from Roy Snelling wth the purpose of ensuring that the local
community benefrted from the operation of the Group through employment and application of surplus profits.
Following his death in 2012 the Group donated to the Charity to comply with his wishes.
Th& Charity does not actively fundralse and seeks to continue the Charitable worf( desired by Ihe donor through
careful stewardship of its resources.
c. Methods of appolntm•nt or el•ction of Trustees
The management of the Charity and the Group is the responsibility of the trustees who are elected and coopted
under the terms ofthe Trust deed.
d. Policies adopted for the inductlon and tralnlng of Trustoes
Due to the size of the Charity there are no formal training and induction procedures in place, continuing trustees
will assist new trustees as necessary. Apart from being introduced to the Group ethos and core values as
outlined above, as a minimum new trustees are given access to past trustee board minutes, copies of the
financial statements. a copy of the trust deed and a copy Of the Charity Commission's guidance 'The essential
Trustee: What you need to know and 'Public Benefrt: running a charity,.
e. Pay pollcy lor senior staff
The Charity does not directly employ any personnel nor does it remunerate any of the trustees other than in their
capacity of directors of the Group. All trustees give of their time freely in the directing and controlling, running and
operating of the Charity on a day lo day basis.
Details of the trustees who are remunerated through the Group in their roles as directors or senior management
are disclosed in note 12 to the accounts.
The pay ol directors and senior management is reviewed annually in light of the performance of the Company or
Group, the cost of living and benchmarked pay levels for similar roles in other cornpanies within their respective
sectors. A remuneration committee comprising of three trustees meets to consider the pay proposals and put
their recommendations to the respectpie Boards for adoption.
Pag8 6

THE R C SNELLING CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Structurei governance and management Icontinuedl
f. Organlsatlonal structure and decision making
The Irustees. who meet quarterly. agre8 the broad strategy and review areas of activity for the Charity, including
the consideration of grants, investment, reserves and risk management policiès and perfomiance. The day-tc-
day administration of grants and the processing and handling of the applications prior to consideration is
delegated to the secretary trustee.
g. Rlsk management
The trustees have made a review cf the major risks to which the Charity may be exposed and systems have
been established to minimise these risks.
Plans for futurè perlods
a. Future developments
The R C Snelling Charitable Trust is a lasting testimony to the genercsify, benevolence and love for the local
cotnmunity of the founder. Roy Snelling.
The trustees approach is to ensure that the Trading Group continues to grow, thrive and gen8rate sustainable
income which can be used for local communty charitsble purposes in addition to the stewardship of the CharIt￿S
cwn resources. In keeping with the founderfs wishes, the Group ethos is to grow through providing unrivalled and
quality servi￿$ which salisfy the customer whi15t Still remaining commercially viable.
The trustees through having expendable endowments are able to respond lo any need which arises should they
so desire, but are intent on building those endowments, whilst permitted by the Trust Deed, in order to have a
bigger impact on the local community in the future.
Infonnation on fundraislng practlces
It is not the policy of the trustees to undertake direct fundraising activities. The trust8es have considered the
disclosure requirements concerning fundraising for charities and can confimi that they ar8 not relevant to this
grant making Charity- The trustees do not engage any persons or organisations to undertake fundraising or
subscribe to any fundraising regulations. As a consequence, the public at large, whether vulnerable or otherwise.
has not been approached in any way to conlrtbule funds to the Charily and no complaints have baen received by
the Charity in relation to fundraising aclivities.
The main sources of funding are inv8stment income- donations from the Snelling Group and rental income
derived from the Charivs properties. As the level investment IllGome and rents receivable are detemiined by
market forces, these factors place natural limitations on the activities that can be carried out by th8 Charity in
each financial period.
Page 7

THE R C SNELLING CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Statement of Trustees. responslbllltles
The Trustees are responsible for preparing the Trustees, report and the financial stalements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the slate of affairs of the Group and the Charity and of their
incoming resources and application of resources, including their income and expenditure, for that period. In
preparing these financial statements, th& Trustees are required to:
select suitable acccunting policies and then apply them consistently-
observe the methods and principles of th8 Charities SORP-
make judgements and accounting estimales that are reasonable and prudent-
state whether applicable UK Accounting Standards have been fo51owed, subject to any material departures
disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Group will continue in operation.
The Trusteess are responsible for keeping proper accounting records that are sufficient to show and explain the
Grcup and the Charily's transactions and disclose with reasonable accuracy at any time th8 financial Position of
the Group and the Charity and enable th&m 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 Group and the Charity and hence for taking reasonable sleps for
the prevention and detection of fraud and other irregularities.
Disclosure of Information to auditors
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that=
so far as that Trustee is awara, there is no relevant audit information of which the charitable group's
auditors are unaware, and
that Trustee has taken all the steps that ought tc have been taken as a Trustee in order to be aware of
any relevant audit infornation and to establish that the charilable group's auditors are aware of that
information.
Auditors
The auditors, MA Partners Audit LLP. have indicat8d their willingness tc continue in office. The designated
Trustees will prcpose a motion reappoinling the auditors at a meeting of the Trustees.
Appro
er of the members of the bDard of Trustees and signed on their behalf by:
N R Savory
Date.. 9 January 2025
Page 8

THE R C SNELLING CHARITABLE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE R C SNELLING CHARITABLE TRUST
Oplnlon
We have audited the financial statements of The R C Snelling Charitable Trust (the 'parent charity'l and its
subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated statement of
financial activikn'es, the Consolidated balance sheet. the Charity balance sheet, the Con501idated statement of
cash flows and th& related notes. 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).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in acccrdance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended
PractiGe issued on 1 April 2005 which is referred to in Ihe e>Aant regulations but has been withdrawn.
Thls has been done in order for the accounts to provide a true and fair view in accordance with the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015,
In our opinion the financial statements..
give a true and fair view of the state of the Group's and of the parent charity's affairs as at 30 Aprll 2024
and of the Group's incomlng resources and appllcation of resources, including its income and expenditure
for the year then ended.,
have been properly prepared in accordance wlth Unlted Klngdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for oplnion
We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS (UKI) 8nd applicable
law. Our responsibilitl8s under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled cur other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo 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 perfomed, we have not identified any material uncertainties relating to events or
conditions that, indNidually or collectively, may cast significant doubl on the Group's or the parent charity's ability
tc Gonlinue as a going concern for a period of at least ￿e1ve 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.
Page 9

THE R C SNELLING CHARITABLE TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE R C SNELLING CHARITABLE TRUST
(CONTINUED)
other informatlon
The other information comprises th6 information included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the clher information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. 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 detemiine whether this give5 rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude thal 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 aro required to report by exceptlon
We have nothing to report in respect of the following matters where th8 Charities (Accoun15 and Reports)
Regulatltsns 2008 requires us to report to you if, in our opinion:
the information given in the Trustees, report 55 Inconslstent in any material r8spect with the financial
statements; or
the parent Charity has not kept sufficient accounting records,. or
the parent Charity financial statements are not in agreement with the accounting records and returns., or
we have not received all the infonnation and explanations w& require for our audil.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trusla8s are responsible for the
preparation of the financial statements which give a true and fair view, and ft)r such intemal control as the
Trustees determine is necessary to èn8ble th& preparation of financial Statements that are free from material
misstatemenl, whether due to fraud cr error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charity's ability to continue as a going concern. disclosing, as applicable, matters related to going ccncern and
using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the
parent charily or to cease operations, or have no realistic alternative but to do so.
Page 10

THE R C SNELLING CHARITABLE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE R C SNELLING CHARITABLE TRUST
(CONTINUED)
Auditors, responsibilities for the audlt of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonabl8 assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance 15 a high level of assurance, but is nol a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatemenl when il exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be
expeGled lo influence Ihe economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
In line with our responsibilities, outlined above, to detect rnaterial misstatements in r8specl of irregularities,
ncluding fraud. The extent to which our procedures are Gapable of detecting irregularities, including fraud is
detailed below.
The objeGlives of our audit in respect of fraud, are-, to identify and assess the risks of material misstatemenl of
the financial statements due to fraud,. to obtain suffiGienl appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud, through designing and implementing appropriate responses to those
8ssèssed rlsks. 8nd to respond appropriately lo instances of fraud or suspected fraud identified during the audit.
However, the primary responsibility for the prevention and detectlon of fraud rests with both management and
those charged with governance of the parent charity and the group.
Our approach was as follows..
We obtained an understanding of the legal and regulatory requirements applicable to the parent charity
and the group and considered that the most significant are the Companies Act 2006, the Charities Act
2011. UK finanGial reporting standards as issued by the Financial Reporting Councll and UK taxation
legislation.
We obtained an understanding of how the parent charily and the group comply with these requirements
through discu35ion5 Wlth management and those charged with governance.
We assessed the risk of material misstalement of the financial statements, including the risk of material
misstatement due to fraud and how it might occur, by holding discussions with management and thcse
Charged with governance.
We inquired of management and those charged with governance as to any known instances of non-
compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specifi¢ appropriate audit procedures to identify instances of non-
compliance with laws and regulations. This included making enquiries of m8nagement and those charged with
governance and obtaining additional corroborative evidence as required.
Page11

THE R C SNELLING CHARITABLE TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE R C SNELLING CHARITABLE TRUST
(CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will nol detect all irregularities. including
those leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularilies occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responslbiliti88 for the audit of th8 financial statemenls is localed on the Financial
Reporting Council's website at.. www.fr
uklauditorsres
Auditors, report.
onsibili118s. This description forms part of our
Use of our report
This report is made solely to the charitls trustees, as a body, in accordance wilh Part 4 of the Charities
(Accounts and Reports) Regulalions 2008. Our audit work has been undertaken so that we might state to the
charity's Irustees those matters we are required to state to them in an Auditors, ieport and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to 8nyon8 other than the charily
and its trustees. as a body, for our audit worf(, for this report. or for the opinions we have lormed.
MA Partners Audlt LLP
Chartered Accountants
statutory Auditcr
7 The Close
Norwich
Norfolk
NR14DJ
Date: 13 January 2025
MA Partners Audit LLP are eligible to 8Ct as auditors in lemis of section 1212 of the Companies Act 2006.
Page 12

THE R C SNELLING CHARITABLE TRUST
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024
Other
endowment
funds
2024
Group
tradlng Unrestricted
endowment
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income and
endowments from:
Donations and legacies
Other trading activitie5
Investments
Other income
1,412
1,412
15,824,510
259,128
5,000
2,170
15,913, 104
199,272
5.500
15,824,510
180,664
5,000
78,464
Total income and
endowments
16,010,174
79,876
16,090,050
16, 120,046
Expendlturo on:
Raising funds
Charitable aclivities
Other expenditure
15,650,303
15,650,303
220,634
110,085
15. 753,556
207,958
(18,248)
220.634
570
109.515
Total oxpendlture
15,759,818
221,204
15,981,022
15,943,266
Net income I
(expenditure) before
net (losses) I galns
on Investments
Net (losses) I gains on
investments
250.356
(141,3281
109.028
176. 780
(q4,2961
112,208
97.912
(155,613)
N8t (8xpandltura) I
Income
Transfers between
funds
Net income I
(expendlturel before
transfers
{14,296)
362,564
(141,328)
206.940
21,IS7
22
380
(107,500)
107,120
113,916)
255,064
134,208)
206,940
21, 167
Page 13

THE R C SNELLING CHARITABLE TRUST
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
Endowment
funds
2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
ReconGiliatlon of
funds:
Total funds brought
fO￿ard
Net movement in funds
22
4,745,053
113,916)
9,758,913
255,064
82,791
(34,208)
14,566,757
206,940
14,545,590
21,167
Total funds carried
forward
4,731,137
10,013,977
28,583
14,773,697
14,566,757
The Consolidated statement of financlal activities includes all gain8 and losses recognised in the year.
The notes on pages 18 to 45 form part of these financial statements.
Pag8 14

THE R C SNELLING CHARITABLE TRUST
CONSOLIDATED BALANCE SHEET
AS AT 30 APRIL 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
Investment prcperty
13
15
14
1.231,487
7,078,100
1,560,000
1.311,510
6,918.504
1.560,000
9,869,587
9,790,014
Current assets
stocks
16
17
1,254,632
4,161,797
3,510.021
1,245. 079
4, 720, 866
2, 432, 846
Debtors
Cash at bank and in hand
8,926,450
8, 398, 791
Gredfcors.. amounts falling due within one
year
18
(3,759.466)
(3,422,362)
Net current assets
5,166,984
4.976,429
Total assets less Current liabilities
15.036,571
14, 766,443
Creditors.. amounts falling due after more
than one year
Provisions for liabilities
19
21
(26,553)
1236,321)
(53, 811)
(145,875)
Total net assets
14,773,697
14.566. T57
Charlty funds
Other endowment funds
Group trading endowment
Unrestricted funds
22
22
22
4,731,137
10,013.9TI
28,583
4, 745.053
9. T58.913
62,791
Total funds
14,773,697
14,566,757
The fin
statements were approved and authorised for issue by the Trustees and signed on their behalf by=
N R Savory
S Phillips
Date: 9 January 2025
The notes on pages 18 10 45 form part of these financial statements,
Page15

THE R C SNELLING CHARITABLE TRUST
CHARITY BALANCE SHEET
AS AT 30 APRIL 2024
2024
2023
Note
Fixed assets
Investments
Investment property
15
14
10,726,409
1,560.000
10, 656.395
1,560,000
12.288.409
12,216,395
Current assets
Debtors
Cash at bank and in hand
17
10.537
91.685
7.54q
218. 183
102,222
225, 724
Creditors: amounts falling due within one
year
18
{45.333)
(50. 697)
Net current assets
56,889
175.027
Total assets less current liabilities
12.343,298
12,391,422
Total net assets
11343,298
12,391,422
Charity funds
other endowment funds
Group trading endowment
Unrestricted funds
4.731,137
7,583,578
28.583
4, 745,053
7, 583,578
62,791
Total funds
12,343.298
12.391,422
The fin
gpprove<l ?nd Wjlmrfsed for kssue ty thè T*ts$ièè& ar*héd thair behplf
N R 58vory
S Phlll&P&
Date.. g JaTruory 202$
payes 1ts lo 45 k>hh part & tr￿Se finantaal &tBtementB.
Page 16

THE R C SNELLING CHARITABLE TRUST
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
2024
2023
Cash flows from operating activities
Net cash provided by l (used in) operating activities (note 24)
1,281,465
339, 143
Cash flows from invèsting activities
Proceeds from the sale of tangible f￿ed assets
Purchase oftangible assets
Proceeds from sale of investments
Purchase of investments
27,275
32, 007
(169.881) {265, 721)
989,465
997,815
(1,051,149)
(919, 132)
Net cash used in investing activities
(204,290) {155,031)
Change In cash and cash equivalents in th8 year
Cash and cash equivalents at the beginning of the year
1,077,175
2,432,846
184,112
2.248, T34
Cash and cash equlvalents at the end of the year {note 251
3,510,021
2,432.846
The notes on pages 18 to 45 fomi part of these financial statements
Page 17

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accounting policies
1.1 Basis of preparatlon of financlal statements
The financial statements have been prepared in accordance vAlh the Charities SORP (FRS 102)
Accounting and Reportin9 by Charitres: Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Repubfic of Ireland (FRS 102) and the Charities Act 2011.
The R C Snelling Charitable Trust meets the definition of a public benefft entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
staled in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet
consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the
subsidiaries are consolidated on a line by line basis.
The financial statements consolidate the accounts of The R C Snelling Charitable Trust and all of its
subsidiary undertakings ('subsidiaries').
1.2 Going concem
The Trust is exFected to have adequate resources to conlinue in operational existence for the
foreseeable future and at least twelve months from the date of signing these financial statements.
Therefore the trustees have adopted the going cc￿￿rn basis of accounting in preparing these
financial statements.
Page 18

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accountlng pollcles (contlnuad)
1.3 Income
All income is recognised once th8 Charity has entitlement to the income, it is probable that the
income will be re￿iVed and the amount of income receivable can be measured reliably.
The recognilion of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to eslimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Charity has suffiGi8nt evidence that a gift has been left to
them (through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amounl receivable. which will generally be the expected cash amount to be distributed to the
Charity. can be reliably Measured.
Turnover is recognised to th8 extent that it is probable thal the economic benefils will flow to the
Group and the turnover can be reliably measured. Turnover is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes.
The principal activities of the Group are the rental, retail and servicing of televisions,. home
appliances and the provision of integrated audio-visual systems and communications technology.
Turnover from the sale of goods is recognised at the point of sale or, where later, upon delivery to
the customer.
Turnover from the provision of products through rental agreements is accounted for on an accruals
basis and is recognised from the date the contractual agreement Is signed.
Turnover from maintenance contracts is accounted for on an accruals basis and is recogni5ed from
the date the contraclual agreement is signed.
Turnover earned from the servicing of televisions and home appliances is recognised on the date of
the completion ofthe maintenance provided.
Work in progr8SS
For other contracts in progress at the end of the financial year, income is recognised, and values are
staled in the balance sheet, as amounts recoverable on contracts or payments received on account,
in aGcordance with Financial Reporting Standard 102.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligalion can be measured reliably. Expenditure is classified by aclivity. The costs
of each activity are made up of the total of direct cost5 and shared costs. including support costs
involved in undertaking each aclivily. Direct costs attributable to a single activity are allccated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of reSoUr￿s. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocal8d on th8 Portion of the asset's use.
Page 19

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accounting policies (continued)
1.4 Expenditure (contlnued)
ExpenditLtre on charttable activities is incurred on diredly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
1.5 Government grants
Government grants relating to tangible fixed assets are trealed as deferred income and released to
the Consolidated statement of financial activities over the expected useful lives of the assets
concemed. Other grants are credited to the Consolidated statement of financial activities as the
related expenditure is incurred.
Grants of a revenue nature are recognised in the Consolidated Statement of Financial Activities in the
same period as the related expenditure.
1.6 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Grcup: this is normally upon notification of the interest paid or payable by the institution
with whom the funds ar8 deposited.
1.7 Foreign currencies
Monetary assets arKS liabilities denominated in foreign Cu￿enCieS are translated into sterling at rates
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterfing at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Consolidated statement of financial activities.
1.8 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company ft>r UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the 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 charitable purposes.
1.9 Tangible flxed assets and depreclatlon
Tangible fixed assets are carried at cost. net of depreciation and any provision for impairment.
Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off
the cost of fixed assets. less their estimated residual value. over their expected useful lives on the
following bases:
Page 20

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accountlng policies Icontlnued)
1.9 Tangible fixed assets and depreclation (continued)
Freehold property
Leasehold improvements
Motor vehicles
Fixtures, fittings, tools and
equipment
Compuler equipment (includ8d
wllhin fi'xtures. fittings tools
and equipment)
Hire and demonstration
equipment (included within
fixtures, fittings, tools and
equipment)
4% reducing balance
period of18ase straight line
25 /¢ reducing balan
250A reducing balance
25°A straight line
30'A reducing balance
The assets, resldual values, useful Ilves and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a slgnlficant change slnce th8 last reporting
date.
Galns 2nd losses on dlsposals are determined by comp8ring the proceeds with the carrying amount
and are recognised in the Consolidated statement of flnancial activities.
1.10 Investments
Flxed asset investments are a form cf flnanclal Instrument and are inStially recognlsed at thelr
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investment5, in the Consolidated ststement of finanGial activities.
Investments held as fixed assets are shown at cost less provision for impairment.
1.11 Stocks
Slocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includ8s all direct costs and an appropriate proportion of r￿ed
and variable overheads.
At each reporting date. stocks are assessed for impaimient. If stock is impaired. the carrying amount
is reduced to its selling price less costs to complete and sell. The impairment loss is recognised
immediately in profit or loss.
1.12 Investment propertles
investment properties are included in the Balance Sheet at their open market value and are not
depreciated.
Page 21

THE R C SNELUNG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accountlng policies (continued
1.13 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepaymènts are valued at the amount prepaid net of any ttade discounts due.
1.14 Cash at bank and In hand
Cash at bank and in hand includes cash and short-lerm 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.
1.15 Liabilltlas
Liabilities and provisions are recognised when there is an obligation at the Balan￿ sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates Ét will pay to s8ttle the debt or thè
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to sèttle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount rs recognised tn the Consolidated slalement of financial activities as
finance cost.
1.16 Deferred taxatlon
Full provisit)n is made for deferred tax assets and liabilities arising from all timing differences
bebNeen the recognition of gains and losses in the financial statements and recognition in the tax
computation.
A net deferred tax asset is recognised only if it can be règarded as more likely than not that théré will
be suitable taxable surpluses from which the future reversal of the underlying timing differences can
be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expecled to be effective at the time
the timing differences are expeded to reverse.
Page 22

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accountlng policies (continued)
1.17 Financial instruments
The Charity and Group enter into basic financial instruments transactions that result in the recognition
of financial assets and liabilities like trade and other accounts receivable and payable, loans from
banks and other third parties, loans to related parties and investments in non-puttable Ordinary
shares,
Debt instruments (other than those wholly repayable or receivable within one year}, including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year. typically trade payables Dr receivables, are measured,
initially and subsequently, at the undisccunted amount of the cash or other consideration, expected to
be paid or received. However, if the arrangements of a short-term instrument constitute a financing
transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a
rate of interest that is not a market rate or in case of an out-right short-term loan not at markel rate,
the financial asset or liability is measured, initially, at the present value of the future cash flow
discounted at a rnarket rate of interest for a similar debl instrument and subsequently at amortised
cost.
For financial assets measured at cost less impairrnent. the impairment loss Is measured as the
difference between an asset's carrying 8mount and best estimate of the recoverable amount, which is
an approximation of the amount that the Group would receive for the asset if it were to be sold at the
reporting date.
1.18 Operating leases
Rentsls paid under operating leases are charged to the Consolidated statement of flnancial activities
on a straight line basis over the lease term.
1.19 Pensions
The Group operat85 a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respect of the year.
1.20 Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Twstees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Expendable endowmenl funds are donations received which the trustees have set aside to generate
funds for future distribution.
Trading endowment funds repres8nt funds retained within the trading subsidiaries for their financial
stability and growth, These funds can be paid up tc the Charity rf required and are therefore treated
as an expendable endowment fund.
Designated funds comprise unrestricted funds Ihat have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Investment income. gains and losses are allocated to the appropriate fund.
Page 23

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Crltlcal accounting estlmates and areas of judgement
Estimates and judgements are conlinually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions conceming the future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabiliti6s within the nexi financial year are discussed below.
Useful economlc lives of tangible assets
The annual depreciation charge for tangbi le assets is sensitive tD changes in the estimated useful
economic lives and residual values of the assets. The useful economic lives and residual values are re-
assessed annually. They are amended when necessary to reflect curr&nt estimates, based on
technological advancemènt, future investments. economic utilisation and the physical condition of the
assets. See note 13 for the carying amount of the tangible fixed asset5 and note 1.9 for the useful
economic lives for each class of assets.
Inventory provlsioning
The Group sells and installs integrated audro visual systems and communications technology which is
subject lo industry demands and trends. Consequently. it is necassary to consider the recoverability of the
cost of inventory and the associated provisioning required. When calculating the inventory provision,
management consider the nature and condition of the inventory, as well as applying assumptions around
anticipated saleability of finished good5 and future usage of raw materia15. See note 16 for the net carrying
amount of the inventory and associated provision.
Impalmient of debtors
The Group rnakes an estimate of the recoverable value of trade and other debtors. When assessing
impairment of trade and other debtors. management considers faclor5 including the current credit rating of
the debtor, the ageing profile of debtors and historical experience. See note 17 for the net carrying amount
of the debtors and associated impairment provision.
Revenue recognltion
The Group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of
the per￿nt8ge-0f-C0mp1eti0n method requires the Group to estimate the setvices perfomed lo dale as a
proportion of the total sen4ices to be perfomied.
Page 24

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
1,412
1,412
2,170
Trading activities
Income from non charltable trading activities
Group
trading
endowment
2024
Total
funds
2024
Total
funds
2023
Subsidiary trading income
Subsidiary rental income
15.463.755 15,463.755 15,515.844
360.755
360.7S6
397.260
15,824,510 15,824510 15.913, 104
In 2024 total income from non charitable trading activities related to the Group trading endowment.
Exp8nditure on raising funds represents the trading costs incurred in the subsidiaries.
Page 25

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Investment income
Group
trading Unrestricted
endowment
funds
2024
2024
Total
funds
2024
Rental income
Income from listed investments
Income from bonds
Interest receivable
8.190
58,746
8,190
164,702
19,819
66,417
105,956
19.819
54.889
11,528
180,864
78,464
259,128
GllxJp
tfading Unrestricted
endowment
funds
2023
2023
Tot81
funds
2023
Rental income
Income frorn listed investments
Income from bonds
Interest receivable
Interest re￿1vable
7,800
48.879
7,800
16CI, 734
16,804
13,843
91
111,855
16.804
6.417
91
7,426
135, 167
64, 105
199, 272
Other incoming resources
Group
trading
endowment
2024
Total
funds
2024
Total
lunds
2023
Government grants receNable
5,000
5,000
5, 500
Page 26

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Analysis of grants
Grants to
Institutlons
2024
Total
funds
2024
Grants payable
204.760
204,760
Grants to
Instilutions
2023
Total
funds
2023
Grants payable
188, 700
188, 700
Page 27

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Analysis of grants (continued)
2024
2023
Name of institution
Priscilla Bacon Hospice
Norwich Samaritans
Thomage Hall Independenl Living Ltd
St Barnabus Counselling SeNices
The Norfolk Churches Trust
Its on the Ball
Soul Church
Friends of Browick Road Primary and Nursery SchooI
Holt Youth Project
Blofield Parish Council
The Matlhew Project
Norfolk and Waveney Mind
44th Norwich (1 st Old Catton) Scout Group
East Anglian Air Ambulance
Norfolk Community Law Servi
Voluntary Norfolk
stalham Baptist Church
NANSA
Multiple Sclerosis Therapy Centre Norfolk
St Martins Housing Trust
Other grants to instrtuttons
Yo,000
10,000
10,000
7,500
20,000
11,000
10,550
10.000
7,500
6.000
5,300
5,200
5.000
5.000
5.000
5,000
7,000
7, 500
5, 600
5,400
5, 100
109,210
120.600
204,760
188. 700
Page 28

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Analysis of expenditure by actlvlties
Grant
funding of
activities
Support
costs
2024
Total
funds
2024
2024
Charitable activities
204.760
15.874
220,634
Grant
funding ol
aclivities
2023
Support
costs
2023
Total
funds
2023
Charitsble activities
188, 700
19,258
207, 958
Analysis of 5UPPQrt costs
Total
funds
2024
Total
funds
2023
Newsletter
Audit and accountancy fees
Museum costs
Legal and professional fees
7,609
4,611
382
7,500
4. 640
823
3,272
6.295
15,874
19,258
In 2024 and 2023 total support costs related to unrestricted funds.
Page 29

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Other expenditure
Group
tradlng Unrestricted
endowment
funds
2024
2024
Total
funds
2024
Subsidiary tax charges
Propety maintenance costs
109.515
109.515
570
570
109,515
570
110,085
Group
trading Unreslricted
endowment
funds
2023
2023
Total
funds
2023
Subsidiary tax charges
Property maintenance costs
(18.599)
(18,599)
351
351
(18.599)
351
{18,248)
10. Auditors. remuneration
2024
2023
Fees payable to the Charitys auditor in respect ot.
Auditors, remuneration - audit (Charity)
Audrtors, remuneration - audit (Group excluding Charity)
Auditors. remuneration - norpaudit (Group)
2.875
15.385
6.615
2. 750
13, 925
1.890
Page 30

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
11. Staff costs
Group
2024
Group
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension scheme5
2,935,496
312,134
267,375
2,737.270
291,397
196, 191
3,515,005
3, 224, 858
Wages and Salaries include benefrts in kind in respect of cars of £19,318 (2023 - £22, 744) and privalé
medical Insuran￿ of £35,722 (2023 - £27.959).
The average number of persons employed by the Charity during the year was as follows:
Group
2024
Group
2023
No.
Sales
Adminlstration
16
18
41
19
25
27
Engineers
75
71
The number of employees whose employee benefits (excluding employer pension costs) exceed&d
£60,000 was:
Group
2024
No.
Gn)up
2023
No.
In the band £60,001- £70.000
In the band £70,001- £80,000
In the band £80,001- £90.000
In the band £90,001- £100,000
In the band £100.001- £110,000
The Trustees of the Charity (deemed to be the key management personnel) receive remuneration from
their role5 as director5 or employees within Ihe trading group as authorised under clause 13 of the
Articles of Association.
Page 31

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
12. Trustees, remuneratlon and expenses
During the year, no Truste& received any remuneration or has received other benefits in respect of their
roles as Trustees of the Charity. Remuneration in respect of their roles as directors in the subsidiary
trading ￿mpanieS are detailed below.
2024
2023
N R Savory
P Buttinger
S Phillips
R A Cogman
Remuneration
Remuneration
Remuneration
Remuneration
Pension contributions paid
Other benefrts
Remuneration
Pension contributions paid
Other beneffts
Remuneration
Remuneration
Pension contributions paid
Other benefits
Remuneration
Pension contributions paid
11,026
11,025
11.025
97,423
7,497
4,039
99,914
17.647
6,557
11,025
89,198
6,615
1,646
39,250
3,140
10,500
10,500
10,500
92,829
7, 140
3, 792
101,747
8. 180
5, 703
70,500
T Wise
D G M Jarrold
P G Giles
6,300
1.488
37.500
3,000
M Gook
During the year ended 30 April 2024, no Trustee expenses have been incurr8d {2023- £NIL).
Page 32

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
13. Tanglble fixed assets
Group and Charlty
Flxtures,
rittlngs,
too15 and
equipment
Freehold
property
Motor
vehicleg
Hlre
Leas8hold
equipment Improvem'ts
Total
Cost or valuatlon
At 1 May 2023
Additions
Disposals
927,205
330,454
71,973
174.347
1,710,381
46,547
{14,263)
1,410,181
51,361
(84,755)
250,301
4,628,522
169,881
1173,365
At 30 April 2024
927,206
328,080
1,742,666
1,376,787
250.301
4,625,038
DepreGiation
Al 1 May 2023
Charge for the year
On disposals
343,831
13,649
209,575
42,092
161,830)
1,453,182
98,039
{13.335)
1,218.779
62,229
(74.325)
91,645
10,020
3.317,012
226,029
(149,490)
At 30 April 2024
357,480
189,837
1,537,886
1.206,683
101.66S
3,393,551
Page 33

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
13. Tanglble fixed assets (continued
Group and Charlty (continued)
Fixtures,
fittings,
tools and
equipment
Freehold
property
Motor
vehlcles
Hlre
Lèasehold
equlpment improvem'ts
Total
Net book value
At 30 April 2024
569,726
138,243
204,779
170,104
148,636
1,231,487
At 30 Apn'l 2023
583,374
120,879
257, 199
191,402
158, 656
1,311,510
Included in Freehold property is freehold land at a cost of £241.000 (2023 - £241.000) which is not
depreciated.
Page 34

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS.
FOR THE YEAR ENDED 30 APRIL 2024
14. Investment property
Group
Freehold
Investment
proparty
Valuation
At 1 May 2023
1,560.000
At 30 April 2024
1,560,000
ChaTIty
Freehold
investment
property
Valuation
At 1 May 2023
1.S60,000
AI 30 April 2024
1.560,000
The 2024 valuations for two properties were made by the Trustees, on an open market value basls,
Page 35

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
15.
Fixed asset investments
Llsted
securities
Unlisted
Other
gecurities Investments
Total
Group
Cost or valuation
At 1 May 2023
Additions
Disposals
Revaluations
6.021,664
1,051,149
(1,014,938)
190,729
12,840
884,000
6,918,504
1.051.149
11.014.938)
123,385
(67,344)
At 30 April 2024
6,248.604
12,840
816,656
7,078,100
Net book value
At 30 April 2024
6,248,604
12,840
816,656
7,078,100
At 30 Aprll 2023
6, 021, 664
12,840
884, QOO
6,918.504
Listed
securltles
Unlisted
Other
securities Investments
Total
Charlty
Cost or valuatlon
At 1 May 2023
Additions
Disposals
Revaluations
2,178,817
403,910
(322,510)
55,958
7,593,578
884,000
10,656,395
403,910
(322,5101
(11,3861
(67,344)
At 30 April 2024
2,316,175
7,593,578
816,656
10,726,409
Net book value
At 30 April 2024
2.316,175
7.593,578
816,656 10,726,409
AI 30 Apn7 2023
2,178,817
7,593,578
884, 000 10, 656,395
Page 36

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
16. Stocks
Group
2024
Group
2023
Raw materials and consumables
1.254,632
1.245.079
The carrying value of stocks are stated net of ifflpairrnent losses totalling £74,894 (2023 - £81, 898) due to
slow-moving and obsolete stock. Impairment losses of £7,004 were reversed {2023 - £40.853 chawed) to
the statement of financial activities.
17. Debtors
Group
2024
Group
2023
Charity
2024
Charify
2023
Due withln one year
Trade debtors
Other debtors
Prepayments and accrued income
Amount8 recoverable on long-term contracts
1,122,818
125,245
412,225
2,501,509
3.546.616
36,172
393.329
744. T49
10,637
7,541
4,161,797
4, 720, 866
10,537
7,541
18. Creditors: Amounts falling due withln one year
Group
2024
Group
2023
Charlty
2024
Charity
2023
Trade creditors
Amounts owed to group undertakings
Corporation tax
Other tsxation and social securty
other creditors
Accruals and deferred income
2.565,860
2,037.920
26,875
27,500
19,839
177,710
89,335
906,722
13. 700
371,493
37.817
962.032
9.623
5,555
3,280
9, 042
5,355
8, 800
3.759.466
3.422.362
45,333
50,697
Page 37

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
19. Credltors: Amounts falling due after more than one year
Group
2024
Grjup
2Q23
Accruals and dèferred income
26.553
53,811
20.
Flnanclal instruments
Group
2024
Group
2023
Charity
2024
Charity
2023
Flnancial assets
Financial assets measured at fair value
through income and expenditure
3.522,861
2,445, 686
7,685,263
7,811,761
Financial assets measured at fair value through income and expenditure comprise listed securities,
investment propéty and cash and cash equivalents.
21. Deferred taxation
Group and Charity
2024
At the beginning of the year
Charge for the year
145.875
90,446
236,321
The deferred tax liability is made up as follows:
Group
2024
Group
2Q23
Accelerated Gapital allowances
Capital gains deferred
(165.821) (159, 375)
(70.500)
13, 500
1236,321) {145.875J
Page 38

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
22.
Statement of lunds
Statement of funds - current year
Balance at
30 Aprll
2024
Balance at 1
May 2023
Transfers
inlout
Galnsl
(Losses)
Income Expendlture
UnTestrlcted
funds
Designated
funds
Designated
Funds - all
funds
20,167
(382)
19,785
General funds
General Funds
42,624
79,876
(220,822)
107,120
8.798
Total
Unrestrlct&d
funds
62,791
79,876
(221,204)
107,120
28,583
Endowment
funds
Expendable
Endowrnent
Funds
4.745.053
380
(14,2961 4,731,137
Group Trading
Endowment
Group Trading
Endowment
9,758.913 16,010,174 (15.759.818) (107,500
112,208 10,013,9TI
Total of funds
14.566,757 16,090,050 115,981.022
97,912 14,773,697
Page 39

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
22. Statement of funds (contlnued
Statèment of funds- prior year
Balance at
l May 2022
Tt3nsf8rs
in/out
Gains/
Balance at
(Losses) 30 Apnl 2023
Income Expanditure
Unrestricted
funds
Designated
funds
Deslgnated
Funds
20,990
{823)
20.167
General funds
General Funds
79,324
66,275
(207,486)
104,511
42,624
Total
UnrestrlGted
funds
100,314
66,275
(208,309)
104,511
S2,791
Endowmont
funds
Expendable
Endowment
Funds
4, T47.647
2,989
(5.583) 4, 745,053
Group Tradlng
Endowment
Group Trading
Endowment
9, 697, 629 16,053, 771 (15, 734.957) (107,500) (150,030)
9, 758,913
Total of funds
14, 545, 590 16, 120, 046 (15, 943,266)
(155. 613) 14,566, 757
Page 40

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
22. Statement of funds (continued)
Fund Transfers
During the year ended 30 April 2024 a transfer of £380 (2023.. r2.989) of undistributed costs has been
made from Unrestricted to Endowment Funds.
The consolidated statement of financial activities has eliminated intra group rent and donations payable to
the Charily. A transfer of £107,500 (2023.. £107,500) is therefore required from Group Trading
Endowment Funds to General Funds to reflect the value of rental income and donations received by the
Charity.
Charity own résults for the year
Brought fo￿rd funds of the Charity al 1 May 2023 were £12.391,422 (1 May 2022.. £12,431,539). Net
expendrture for the Charity for the year ended 30 April 2024 was £33,82B before gains and losses (2Q23.'
£35,534 net expenditure). Net losses on listed investmenls for the year énded 30 April 2024 were
£14,296 (2023.. £5,583 losses). Thi5 resulted in a net deficit of £48,124 for the year (2023., £40,117
deficit). Charity funds carried forward at 30 April 2024 were £12,343,298 (2023.. £12.391,422).
23. Analysls of net assets between funds
Analys18 of nèt assets between funds - current perfod
Group
Endowment
Trading Unrestrlcted
funds Endowment
funds
2024
2024
2024
Total
funds
2024
Tangible fixed asset5
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
1,231,487
3,935,269
1,231,487
7,078,100
1,560,000
47.116
8,926,450
(18,533) (3,759,466)
(26,553)
1236,321)
3,142.831
1,560,000
28.306
8,851.028
(3,740.933)
(26.553)
{236,321)
Total
4.731.137 10.013.977
28,583 14,773,697
Page 41

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
23. Analysls of net assets between funds Icontinuedl
Analysls of net assets beiween funds - prior period
Group
Endowment
Trdding Unrestricted
funds Endowment
funds
2023
2023
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilitie5 and chargas
1,311,510
3,845,687
1,311,510
6,918,504
1,560,000
113,488
8, 398, 791
{50, S97) {3, 422,362)
(53,811)
(145, 875)
3,072,817
1,560,000
112,236
8, 173,067
(3,371. 665)
(53,811)
(145.875)
Total
4. 745,053
9, 758.913
62, T91 14,566,757
24.
Reconciliation of net movement In funds to net cash flow from operating actlvltles
Group
2024
Group
2023
Net income for the period las per Statement of Financial Activities)
206,940
21.167
AdJu8tments for:
Depreciation charges
Gainsl(losses) on investments
Profit on the sale of fixed assets
Decreasel(increase) in stocks
Decreasel{increase) in debtors
(Decrease)lincrease in creditors
Increase in deferred tax provision
226.029
(97.9121
(3,4001
19,5531
S69.069
309,846
90A46
214,536
161, 747
(10.606)
182.000
(973,634)
75S.223
(12,290)
Net cash provlded by operatlng activitles
1,281.465
339, 143
Page 42

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
25. Analysis of cash and cash equlvalents
Group
2024
Group
2023
Cash in hand
3,540,021
2,432, 846
Total Gash and Gash equlvalents
3,510,021
2,432, 846
26. Analysis of changes In cash and cash equlvalents
At1 May
2023 Cash flow8
At 30 Aprll
2024
Cash at bank and in hand
2,432,846
1,077,175
3,510,021
2,432.846
1,077,175
3.510,021
27.
Pension commitments
The Group operates a defined contribution pension scheme for all eligible employees. The assets of the
scheme are held separately from those of the Group in an independently administered fund. The pension
cost charge is detailed in note 11 to the financial siatements. There were £23,852 <2023 £19,295)
accrued contributions in the Group at 30 April 2024.
28.
Operatlng leas8 commitments
At 30 April 2024 the Group and the Charity had commitments to make future mlnlmum leas8 paymenls
under non-cancellable operating leases as follows:
Group
2024
Group
2023
Not later than 1 year
Later than 1 year and not later than 5 year5
30.164
6,432
58,897
34,47g
36,586
93,376
The Charty had no commitments under ncn-cancellable operating leases at 30 April 2024.
Page 43

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
29. Related party transactlons
Charity
The Charity owns land and buildings which are leased to a subsidiary company. The annual rental was
determined on the advice of independent Chartered Surveyors, Roche. The propety was subsequently
let by the trustees to Snelling Business Systems Limttéd at a full market rent amounting to £107.500 per
annum.
During the year the Charity used Barratt & Cooke Limited as Investment Advisors and Managers.
Management charges of £795 (2023." £560) for managing the funds and commission charges of £6,118
(2023.. £5.311) were incurred during the nomal course of business. Barratt & Cooke Limited is a
company in which S Barratt and N R Savory (both trustees) are directors.
During the year, the Charity donated £5,000 (2023.. £5.000) to East Anglian Air Ambulance, a charity in
which N R Savory 15 also a truslee.
During the year, the Charity paid S Phillips £4,000 (2023.. £4,000) for the production of ￿ newsletter5. S
Phillips is a trustee of the Charity. No amounts were outstsnding at 30 April 2024 (2023.. £Nifj.
Durin9 the year, the Charty paid Fakenham Ra￿COurse Limited £468 (2023.. £486) for sponsorship and
events. N R Savory is a director of Fakenham Ra￿COUrse Limited.
Group
During the year the Group used Barratt & Cooke Limited as Investment Advisor5 and Managers.
Commission and management fees of £18,688 {2023.' £17, 396) were incurred during the nomial course
of business. N R Savory, a trustee and director of Snellings Limited, is a Non-Executive Director of
Barratt & Cooke Limited.
The Group paid £18,850 (2023." £18,850) for warehouse rental to Paul Giles, a trustee and director of R C
Snelling Limited. The rental represents a commercial rate of usage of the facilty. No amounts were
oulstandlng at 30 April 2024 (2023.. £Nil).
During the year, the Group paid Fakenham Racecourse Limtled £11,852 (2023.. £13, 109) for sponsorship
and events and invoiced Fakenharn Racecourse Limited £nil (2023.. £18,325) for gDods and services. N
R Savory is a director of Fakenham Ra￿CoUrse Limited.
Page 44

THE R C SNELLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
30.
Prlncipal subsidiarie5
Subsidiary nam
Company r8gistration number
Basis of control
Equity shareholding
Snellings Limited
07613036
Share capital
1QO/o
Total assets as at 30 April 2024
Total liabilities as at 30 April 2024
Total equity as at 30 April 2024
£14,017,784
(£3.767,4861
£10,013,977
Turnover for the year anded 30 April 2024
Expenditure for the year ended 30 April 2024
Profit for the year ended 30 April 2024
£15,821,989
(£15,566,925)
£255.064
Snellings Limited is a parent company and has the following subsidiary undertakings, which are
incorporated in England and Wales and are included within the consolidated financial statements of
Snellings Limited for the year ended 30 April 2024.
R C Snelling Limited - 100 % owned- Sale, rental and services of televisions and home applian￿5.
Snelling Business Systems Limited - 1000/0 owned Provision of integrated audio visual systems and
communications technology.
R C Snelling (Blofield) Limited- 100Q/o owned - Dormant.
Gerald Giles Limited - 100'h owned - Dormant.
Page 45