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← The David Snowdon Trust

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1078527

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 December 2024

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Contents of the Financial Statements

for the year ended 31 December 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Report of the Independent Auditors 6 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 18

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Reference and Administrative Details for the year ended 31 December 2024

TRUSTEES DMB Snowdon
Dr RM Cayton
C Wilson
JFD McMillan BFP FCA
CJ Malpas
SG Allison
PRINCIPAL ADDRESS Haverthwaite Lodge
Haverthwaite
Ulverston
Cumbria
LA12 8AJ
REGISTERED CHARITY 1078527
NUMBER
AUDITORS A I Cherry Limited
Chartered Accountants and
Statutory Auditors
26 Winckley Square
Preston
PR1 3JJ
BANKERS Cater Allen Private Bank
9 Nelson Street
Bradford
BD1 5AN
INVESTMENT ADVISERS Investec Wealth & Investment Limited
3 Hardman Street
Spinningfields
Manchester
M3 3HF

Page 1

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Report of the Trustees

for the year ended 31 December 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of The David Snowdon Trust ("the Charity") are such general charitable purposes as the trustees shall think fit, giving special consideration to advance the education of the public, particularly in the arts, to the relief of poverty and, to the relief of suffering, including medical research. The Charity operates in the county of Cumbria including local branches of national Charities.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trustees have made contact with many similar grant making charities in Cumbria during the year and have become members of the Cumbria Funders Forum, who meet quarterly to discuss matters of mutual interest and have attended funders fairs in Barrow, Kendal and Penrith. Contact has also been made with Cumbria Council for Voluntary Service and other local advice bodies.

The Trustees met three times during the year including once with the Investment Managers, having received quarterly written updates from them.

The direct employment costs of the secretarial services provided to the Charity have been reimbursed - on a full-time equivalent basis this was calculated at 0.23 during the year.

The Trustees have updated their grant making policies which are included in the Charity's website (www.dstrust.org.uk), including an application form and set out the criteria upon which applications will be judged. Once a grant is awarded periodic update reports showing performance against set outcomes and targets will be required and an evaluation form completed.

The Trustees seek to support local organisations that promote self-help and support in the community particularly:

==> picture [31 x 71] intentionally omitted <==

Higher Education , including causes facilitating benefit from exposure to the capitals of greater learning and innovation outside Cumbria and others offering benefit from local apprenticeship schemes, particularly Hospitality

Social Needs, including causes alleviating poverty and increasing social mobility in rural areas The Arts , including encouraging appreciation of the arts and sponsoring talented individuals in their early careers

During the year grants of £120,395 (2023 £84,975) were awarded as listed in note 7 of the financial statements and a number of other grants were under consideration at the year end.

The largest project funded by the Charity during the year was to Beep Doctors, who provide emergency medical care, for assistance with an additional emergency responder vehicle based in Penrith.

The Ulverston Scholarship for sixth form students of Ulverston Victoria High School finished in 2023 and the Trustees are considering a replacement Bursary scheme.

Page 2

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Report of the Trustees

for the year ended 31 December 2024

FINANCIAL REVIEW

Financial review

During the year gift aid donations of £110,465 (2023: £32,600) were received together with the tax reclaim on the donations amounting to £27,616 (2023: £7,075). In addition, there were dividends and interest received of £126,665 (2023: £113,409).

The amount in reserves of £6,508,116 (2023: £6,101,209) is to generate a return from which to make future grants. The investment value (excluding cash with investment managers) increased in value by £442,963 (2023: increased by £253,428).

The investments are managed on a discretionary basis and in July 2024 the management of the units in the Mattioli Woods Growth Fund was moved from them to Rathbones (incorporating Investec Wealth & Investment).

Rathbones now have sole responsibility for all the investments of the Charity.

The portfolio investment approach has a Medium/High tolerance to risk and has a globally diversified investment mandate using a combination of direct investment and selected collective funds.

The overall equity weighting is around 75% (including flexible investment funds) and complimented by fixed income and alternative assets to mitigate the risk. The income yield is satisfactory and distributed to the Charity every three months.

The Mattioli Woods Growth Fund is classed a a flexible investment fund and focuses on global growth investment with an overall equity content of around 80%. The unit price increased 9% over the year, recovering the losses made in the last two years. Rathbones have since sold some of these units, but they still represented some 30% of the year end equity portfolio and there is a plan to further reduce the holding and increase the diversification.

The remaining equity funds comprise a portfolio principally of equities and the net performance for the year was +7.92 %. This compared to a similar portfolio as reported by the fund's gross benchmark ARC of +8.4%.

The last year was positive for the investment portfolio with capital growth over the year and reliable income generation from the portfolio holdings. The portfolio was positioned with a degree of cautious optimism at the start of 2024 and the partial sales of the Mattioli Woods units have been positioned to take advantage of sale prices but also importantly diversified purchases at attractive price points.

The two year performance was +17.4% after charges against a gross return of +16.2% for the benchmark ARC.

Moving forward the investment managers consider US growth to be a key constituent of positive markets along with evidence of corporate earnings and a robust consumer. The continued inclusion of Government and corporate debt will maintain the Charity risk profile and provide exposure to assets with a reliable income yield.

In September 2024 the Charity transferred £500,000 from the bank deposit account to purchase short-dated UK Government gilts maturing between 2026 and 2028 in order to lock in the favourable high rates of total return which were fixed at the point of purchase.

The existing Investment Policy statement was updated on 23 November 2024 principally to include the gilt portfolio which is managed on a total return basis. The investment manager has confirmed adherence to the Investment Policy statement.

In addition to the cash funds with Rathbones the Charity has over £270,000 in its bank current and deposit accounts at the year end.

Page 3

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Report of the Trustees

for the year ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document is a Declaration of Trust dated 5 October 1999. Trustees are selected on the basis of their experience and knowledge of Cumbria and of charitable needs to meet the objects of the charity.

Reserves policy

It is the Trustees policy to maintain the capital but to distribute the majority of each years income, whilst being mindful of retaining funds to meet any large projects and causes.

Recruitment and appointment of new trustees

The trustees who have served during the year are set out on page 1 and their appointment is based on their knowledge of the aims of the charity.

New trustees are recruited by contact with appropriately qualified individuals and appointed as required in line with the Charity's objectives. Appropriate induction and training will be given to any new trustees. The trustees generally meet twice a year, but a sub group meets more frequently to assess grant applications and then report to the full board of the Trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The principal risk is a major downturn in the value of its investments which if it were to continue over the longer term, would impact on the ability to provide grants. The risk is addressed by holding a diversified portfolio of investments with separate fund managers and by having policies in place to adjust distribution levels over time.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Report of the Trustees

for the year ended 31 December 2024

Approved by order of the board of trustees on 14 February 2025 and signed on its behalf by:

JFD McMillan BFP FCA - Trustee

Page 5

Report of the Independent Auditors to the Trustees of The David Snowdon Trust

Opinion

We have audited the financial statements of The David Snowdon Trust (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

In the previous accounting period the Trustees of the charity took advantage of the audit exemptions available for small charities. Therefore, the prior period financial statements were not subject to audit.

Page 6

Report of the Independent Auditors to the Trustees of The David Snowdon Trust

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

A I Cherry Limited Chartered Accountants and Statutory Auditors 26 Winckley Square Preston PR1 3JJ

Date: .............................................

Page 7

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Statement of Financial Activities for the year ended 31 December 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Grants
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
fund
£
138,081
126,665
264,746
43,497
120,395
29,434
193,326
335,487
406,907
6,101,209
6,508,116		 2023
Total
funds
£
39,675
113,409
153,084
46,395
84,975
25,478
156,848
259,715
255,951
5,845,258
6,101,209

The notes form part of these financial statements

Page 8

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Balance Sheet 31 December 2024

Notes
FIXED ASSETS
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2024
2023
Unrestricted
Total
fund
funds
£
£
5,835,797
5,392,834
5,000
-
683,219
720,375
688,219
720,375
(15,900)
(12,000)
672,319
708,375
6,508,116
6,101,209
6,508,116
6,101,209
6,508,116
6,101,209
6,508,116
6,101,209

The financial statements were approved by the Board of Trustees and authorised for issue on 14 February 2025 and were signed on its behalf by:

JFD McMillan BFP FCA - Trustee

The notes form part of these financial statements

Page 9

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Cash Flow Statement

for the year ended 31 December 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2024
£
(56,345)
(56,345)
(1,577,902)
1,470,426
15,204
111,461
19,189
(37,156)
720,375
683,219		 2023
£
480,151
480,151
(963,396)
293,931
21,099
92,310
(556,056)
(75,905)
796,280
720,375

The notes form part of these financial statements

Page 10

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Cash Flow Statement

for the year ended 31 December 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 406,907 255,951
Adjustments for:
Depreciation charges - 367
Gain on investments (335,487) (259,715)
Interest received (15,204) (21,099)
Dividends received (111,461) (92,310)
(Increase)/decrease in debtors (5,000) 603,657
Increase/(decrease) in creditors 3,900 (6,700)
Net cash (used in)/provided by operations (56,345) 480,151

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24 Cash flow At 31/12/24
£ £ £
Net cash
Cash at bank 720,375 (37,156) 683,219
720,375 (37,156) 683,219
Total 720,375 (37,156) 683,219

The notes form part of these financial statements

Page 11

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements

for the year ended 31 December 2024

1. GENERAL INFORMATION

The charity is a registered charity in England and Wales and is unincorporated. The address of the registered office and principal office is Haverthwaite Lodge, Haverthwaite, Ulverston, Cumbria, LA12 8AJ.

The presentational currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice (effective from January 2019).

Going concern

Having reviewed the funds currently available to the Charity, together with the likely future cash inflows and outflows and known financial commitments, the trustees have a reasonable expectation that the Charity has adequate reserves to continue its activities for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

Page 12

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued

for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Investments

Listed investments are included at market value at the balance sheet date.

The SOFA includes net gains and losses arising on revaluations and disposals throughout the year.

3. DONATIONS AND LEGACIES

4.

Donations
Gift aid
INVESTMENT INCOME
Dividends on investments
Bank interest		 2024
£
110,465
27,616
138,081
2024
£
111,461
15,204
126,665		 2023
£
32,600
7,075
39,675
2023
£
92,310
21,099
113,409

Page 13

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued

for the year ended 31 December 2024

5. RAISING FUNDS

Investment management costs
Portfolio management
6.
CHARITABLE ACTIVITIES COSTS
Grants
7.
GRANTS PAYABLE
Grants
The total grants paid to institutions during the year were as follows:
Eden Valley Hospice
Age UK
St Mary's Hospice
Combat Stress
Ulverston Inshore Rescue
The Armitt Trust
Salvation Army Penrith
Kepplewray Trust
Cumbria Council for Voluntary Support
Carer Support South Lakes
Grange and District Concert Club
South Lakes District Scouts
Flutes & Co
Girl Guiding Cumbria South
Wave Forward
Growing Well
Beep Doctors
Bendrigg Trust
Blackwell Sailing
Brathay Trust
Theatre Factory
Individuals		 2024
£
43,497
 2023
£
46,395
Grant
funding of
activities
(see note
7)
£
120,395
2024 2023
£ £
120,395 84,975
2024 2023
£ £
3,395 22,875
8,000 -
2,100 4,600
6,000 5,000
11,000 -
8,000 8,000
12,000 9,000
3,500 4,000
- 10,000
15,000 15,000
- 3,000
- 1,000
2,400 -
1,000 -
5,000 -
5,000 -
20,000 -
4,000 -
4,000 -
5,000 -
5,000 -
120,395 82,475
- 2,500

Page 14

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued

for the year ended 31 December 2024

8. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Other resources expended 13,534 15,900 29,434

Auditor/Independent examiners remuneration included above is £4,800 (2023: £2,100).

9.

TRUSTEES' REMUNERATION AND BENEFITS

A trustee, Mr JFD McMillan, is a director of McMillan & Co Consultants Limited who are due a fee of £9,250 (2023: £8,250) plus VAT for the preparation of the accounts and related matters. Other than this no remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

10. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2024 and
31 December 2024 1,100
DEPRECIATION
At 1 January 2024 and
31 December 2024 1,100
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Page 15

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued for the year ended 31 December 2024

11. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2024
Additions
Disposals
Unrealised gains
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
The analysis of the market value at the end of the year is as follows:		 Listed
investments
£
5,392,834
1,577,902
(1,430,761)
295,822
5,835,797
5,835,797
5,392,834		 Listed
investments
£
5,392,834
1,577,902
(1,430,761)
295,822
5,835,797
5,835,797
5,392,834
2024 2023
£ £
Listed investments:
Mattioli Woods Portfolio - 2,572,883
Investec portfolio: Equity 5,361,657 2,819,951
Gilts 474,140 -
5,835,797 5,392,834

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£ £
HMRC 5,000 -

Page 16

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued for the year ended 31 December 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
14.
MOVEMENT IN FUNDS
At 1/1/24
£
Unrestricted funds
General fund
6,101,209
TOTAL FUNDS
6,101,209
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
264,746
(193,326)
TOTAL FUNDS
264,746
(193,326)
Comparatives for movement in funds
At 1/1/23
£
Unrestricted funds
General fund
5,845,258
TOTAL FUNDS
5,845,258
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
153,084
(156,848)
TOTAL FUNDS
153,084
(156,848)		 2024
£
15,900
Net
movement
in funds
£
406,907
406,907
Gains and
losses
£
335,487
335,487
Net
movement
in funds
£
255,951
255,951
Gains and
losses
£
259,715
259,715		 2023
£
12,000
At
31/12/24
£
6,508,116
6,508,116
Movement
in funds
£
406,907
406,907
At
31/12/23
£
6,101,209
6,101,209
Movement
in funds
£
255,951
255,951

Page 17

continued...

The David Snowdon Trust (incorporating The Neville Talbot Charity)

Notes to the Financial Statements - continued

for the year ended 31 December 2024

15. RELATED PARTY DISCLOSURES

The following related party transactions occurred:

During the year reimbursement of costs of £11,722 (2023 £9,939) were made to DMB Snowdon in respect of the time spent on the charity's behalf by the secretary who he employs.

16. COMMITMENTS

At 31 December 2024, the Trustees have approved the following grants to be paid in future years:

At 31 December 2024, the Trustees have approved the following
grants to be paid in future years:
2024 2023
£ £
Beep Doctors 20,000 -

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