The Troy Trust, working title Bees for DevelopmentTrust
Charity No. 1078803
Trustees. Reportand Unaudited Accounts
30 April 2024

The Troy Trust, working title Bees for Development Trust
Contents
Pages
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
2to3
Balance Sheet
Statement of Cash flows
Notes to the Accounts
8t015
Detailed Statement of Financial Activities
16to17
Page I

The Troy Trust. working title Bees for Development Trust
Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended
30 April 2024.
REFERENCE AND ADMINISTRATIVE D￿AlLs
Charity No. 1078803
Trustees
The followingtrustees served during the year..
S. Brown
C. Cooper
M. Krefta
S. Shaw
P. Smith
R. Spencer
Accountants
Aubrey& Co Accountancy Limited
19 Church Street
Ross onwye
HR9 5HN
OBJEcfivES AND AcfiviTIES
The purpose of the charity as set out in its governing document is the relief of poverty in any part of the
developing world, in particular but not exclusively through the advancement of the craft of beekeeping.
In previous years, the main activities undertaken in relation to those purposes was the provision of training
and information resources. particularly in Ghana, Ethiopia and Uganda to enable people to generate income
from beekeeping. However, as noted in last year's report, a new Charitable Incorporated Organisation (CIO)
called Bees for Development l Bfd CIO- charity number 1198116) has been formed, and the activities of the
charity were transferred shortly before the beginning of this financial year, to Bees for Development CIO.
Charity 1198116. The new CIO has many trustees in common with the charity, and the trustees are satisfied
that the new CIO is appropriately managed.
The trustees of the CIO have had regard to Charity Commission guidance on public benefit in the
determination of services to be provided and the identif ication of beneficiaries.
POLICY ON SOCIAL INVEsfMENT
Most of the CIO'S activities are Social investment in that the objective is to create local centre5 of expertise
and promote sharing of this knowledge to ensure long-term continued benefits from the work.
POLICY ON GRANT MAKING
The charity does not provide grants, it engages long-term with individuals and organisation5 in its key areas
of activity. Projects are evaluated for feasibility within the available budgetlresources and the expected
benefits.
The charity works with a number of volunteers who bring specific knowledge and skills to its work, therebv
extending the scope of activities that the charity is able to undertake.
Page 2

The Troy Trust, working title Bees for Development Trust
Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
As mentioned above, the activities of this charity were transferred to Bees for Development CIO, charitv
number 1198116, shortly before the beginning of this financial year. Following this transfer of activity, the
assets of the charity were transferred to Bees for Development CIO during this financial year underthe terms
of a Deed of Transfer, and this transfer is reflected as an expense in Note 9 to these accounts.
FINANCIAL REVIEW
At the end of the period the Trust's total reserves stood at £12,125 of which none were restricted funds.
As the charity now exists solely for the collection of income due for onward transfer to another charity, no
specific reserves policy is applied. Funds are transferred periodically so as to maintain a limited balance on
the charity's bank accounts.
Funds are held on deposit with the charity's bankers. No attive investment strategy has been followed in the
vear under review.
Since the charity exists solely to collect legacy income from donors, the potential impact of this is limited. The
risks associated with the administration of funds collected has been transferred to Bfd CIO, and thei r future
management will be undertaken in that organisation.
PLANS FOR FUTURE PERIODS
The charity has now ceased operation, but will remain inexistence for a limited period to facilitate ongoing
collection of legacies, donations and similar contributions. Any such income will be transferred to Bee5 for
Development CIO (Charity No 11981161 after deduction of certain expenses such as bank charges and
accounting fee5.
STRucfuRE, GOVERNANCE AND MANAGEMENT
The charity is governed by a Trust Deed and 15 con5ituted as a Charitable Trust.
While the activity of the charity is now limited to the collection of legacy income and its transfer to the
successor charity, the trustees continue to monitor the composition of the board to ensure that is has an
appropriate balance of skills.
Statement of trustees, responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees, annual report and financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally
Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the
provisions of the Trust deed. The Trustee5 are also responsible for safeguarding the assets of the charity and
hence taking reasonable step5 for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
p&£•
P. Smith
Trustee
Date.....1 9th February 2025
Page 3

The Troy Trust. working title Bees for Development Trust
Independent Examiner5 Report
Independent Examiner's Report to the trustees of The Troy Trust, working title Bees for Development Trust
I report to the trustees on my examination of the financial statement5 of The Troy Trust, working title Bees
for Development Trust for the year ended 30 April 2024.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charity's financial statements carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145{Sllbl of the Act.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination by being a qualified
member of ICAEW.
I have completed my examination. I can confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
the accounting records were not kept in respect of the charity as required by section 130 of the Act- or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirement5 concerning the form and
content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the financial statements give a 'true and fair, view which is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in thi5 report in order to enable a proper understanding of the financial
statements to be reached.
Aubrey & Co Accountancy Limited
19 Church Street
Ross on Wye
HR9 5HN
Page 4

The Troy Trust, working title Bees for Development Trust
Statement of Financial Activities
for the year ended 30 April 2024
Unrestricted
Restricted
funds
2024
funds Total funds Total funds
2024
2024
2023
Note5
Income and endowments
from:
Donations and legacies
Charitable activities
Other trading activities
Investments
216,165
12,530
177
90
32,000
216,255
44.530
177
3,310
115
601,889
165,832
21,498
4,239
180
3,310
115
Other
Total
232,297
32,090
264,387
793,638
Expenditure on:
Charitable activities
Other
360
701,582
360
813,205
350
494,918
111,623
Totsl
701,942
111,623
813,565
495,268
Net gains on investments
Net lexpenditure)/income
Transfers between funds
1469,6451
(79,5331 1549,1781
298,370
Net {expenditurel/income
before other gains/{10sse5)
1469,6451
179,5331
1549,1781
298,370
Other gains and losses
Net movement in funds
1469,6451
179,5331
1549.1781
298,370
Reconciliation of funds:
Total funds brought forward
481,766
79,533
561.299
262,929
Total funds carried fonvard
12,121
12,121
561,299
Page 5

The Troy Trust, working title Bees for DevelopmentTrust
Balancesheet
at 30 April 2024
Charity No. 1078803
2024
2023
Current a55ets
Debtor5
Cash at bank and in hand
li
6,569
584.000
590.569
129,2701
13,681
13,681
11,5601
12,121
Creditors: Amount falling due within one year
Net current assets
12
561,299
Total assets less current liabilities
12,121
561,299
Net assets excluding pension asset or liability
12,121
561,299
Total net assets
12,121
561,299
The funds of the charity
Restrirted funds
Restricted income funds
13
79.533
79,533
Unrestricted funds
General funds
13
12,121
481,766
12,121
481,766
Reserves
13
Total funds
12,121
561,299
Approved by the trustees on
And signed on their behalf by:
P. Smith
Trustee
Date...19tM February 2025
Page 6

The Troy Trust. working title Bees for Development Trust
Statement of Cash flows
for the year ended 30 April 2024
2024
2023
Cash flows from operating activities
Net (expenditure}/income per Statement of Financial Activities
1549,178)
298,370
Adjustments for:
Dividends, interest and rents from investments
Other gains/losses
Decrease/llncrease) in trade and other receivables
(Decrea5el/lncrease in trade and other payables
13,4251
(4,419)
6,569
(27,7101
{6,5691
28,058
Net cash (used in)/provided by operating activities
1573,7441
315,440
Cash flows from investing activities
Dividends, interest and rents from investments
3,425
4,419
Net cash from investing activities
3,425
4,419
Net cash from financing artivities
Net Idecrease)lincrease in Cash and cash equivalents
1570,3191
319,859
Cash and cash equivalents at the beginning of the year
584,000
264.141
Cash and cash equivalents at the end of the year
13,681
584,000
Component5 of cash and cash equivalents
Cash and bank balances
13,681
584,000
13,681
584,000
Page 7

The Troy Trust, working title Bees for Development Trust
Note5 to the Accounts
forthe year ended 30 April 2024
l Accounting policies
Basi5 of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the th3rity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement of Financial Activities ISOFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Incomewith related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SoFAwhen receivable and only when the Charity has unconditional entitlement
to the income.
Tax reclaims on
Income from tax reclaims is included in the SOFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services
These are only included in income (with an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable. measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/llosses} on
This include5 any gain or10ss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gainslllossesl on
investment assets
This includes any gain or Ioss on the sale of investments.
Page 8

The Troy Trust, working title Bees for Development Trust
Notes to the Accounts
Expenditure
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading cost5 and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activitie5 and
charitable activities services in the furtherance of its objects, including the making of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrua I for
grants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any auditlindependent examination fees,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or10sses are taken to the Statement of Financial Activities as they
arise.
stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair
value which 15 the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial p051tion, bank overdrafts are shown within borrowings or current li a bilities.
In the Statement of Cash Flows, cash and cash equivalents are Shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised
where the charity has a present obligation resulting from a past event that will probably result in the
transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
Page 9

The Troy Trust, working title Bee5 for Development Trust
Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the
charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of
exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net incomelexpenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified
as operating leases.
Assets held under finance leases are initially recognised as 355ets of the charity at their fair value at the
inception of the lease or, if lower, at the present value of the minimum lease payments. The
corresponding liability to the lessor is included in the balance sheet date as a finance Sease obligation.
Lease payments are apportioned between finance expenses and reduction ofthe lease obligation so as to
achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are
recognised immediately, unless they are directly attributable to qualifying assets, in which case they are
capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned a55ets.
Operating lease payments are recognised as an expense on a straight-line basis overthe lease term,
In the event that lease incentives are received to enter into operating leases, such incentives are
recognised as a liability. The aggregate benefit of incentives is recognised a5 a reduction of rental expense
on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the charity pays fixed contributions into a separate entlty. Once the
contributions have been paid the charity has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods. facilities and service5 received are recognised within incoming resources and
expenditure at an estimate of the value to the charity.
Page 10

The Troy Trust, working title Bees for Development Trust
Notes to the Accounts
2 Statement of Financial Activities- prioryear
Unrestricted
Restricted
funds
funds
2023
2023
Income and endowments from:
Donations and legacies
Charitable artivitie5
Other trading activities
Investments
Other
601,489
9,863
21,498
4,239
180
400
155,969
Total
637,269
156,369
Expenditure on:
Charitable activities
350
Other
357,139
137,779
Total
357,489
137,779
Net income
279.780
18,590
Net income before other
gains/{losses)
Other gains and losses:
Net movement in funds
279,780
18,590
279,780
18,590
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
201,986
60,943
481,766
79,533
3 Income from donations and legacie5
Unrestricted
Restricted
Total
2024
Donations and Contributions
from individuals and
organisations
Gift Aid recovered
Legacies and bequests
90,453
45
90,498
12,285
113,427
216.165
45
12.330
113,427
216,255
90
4 Income from charitable activities
Unrestricted
Restricted
Total
2024
Events income
12,530
12,530
32,0(hJ
44,530
Grant income
32,000
32,000
12,530
Page 11

The Troy Trust, working title Bees for Development Trust
Notes to the Accounts
5 Income from other trading activitie5
Unrestricted
Total
2024
Sales of goods and Services
Courses income
177
177
177
177
6 Income from investments
Unrestricted
Total
2024
Interest receivable from bank
3,310
3,310
deposits
3,310
3,310
7 Other income
Unrestricted
Totsl
2024
Sponsored
subscriptions/Charities Trust
income
115
115
115
115
8 Expenditure on charitable activities
Unrestrirted
Total
2024
Governance costs
Independent Examiners fees
360
360
360
360
9 Other expenditure
Unrestricted
Restricted
Total
2024
Project Expenditure
Transferto Beesfor
Development CIO
3,205
3,205
698,377
111,623
810,000
701,582
111,623
813,205
10 Staff costs
No employee received emoluments in excess of £60,000.
Page 12

The Troy Trust, working title Bees ft>r Development Trust
Notes to the Accounts
11 Debtor5
2024
Other debtors
12 Creditors:
amounts falling due within one year
2024
Other creditors
Accruals
1,560
Page 13

The Troy Trust, working title Bees for Development Trust
Notes to the Accounts
13 Movement in funds
Incoming
resources
Resources
expended
(including
Atlmay
other
2023 gaIns￿O55es)
Restricted funds:
Restricted income funds:
Ethiopia Core Support
Ghana Buzz Club
29.526
5,513
15,667
129,5261
15,5131
115,6671
132,0001
11,2051
17001
Ghana Bee the Voice
Ethiopia More Bees
Ukraine Beekeepers
Bees for Batwall
Uganda Making Beekeeping
Work for People with
Disabilities
Other projects
32,000
90
1,115
700
26,912
Ic(J
(26.912)
iioo)
Total
79.533
32,090
{111,6231
Unrestricted funds:
General funds
481,766
232,297
{701,9421
Total funds
264 387
813 565
Purposes and restrictions in relation to the funds:
Restricted funds:
Ethiopia Core Support
To provide core support to Bees for Development Ethiopia for staff salaries
and overhead costs not covered by specific project budgets
Supporting beekeeping clubs in primary schools so that young people can
learn about bees, beekeeping and nature.
Professional women beekeepers training programme
Professional women beekeepers training programme
To support beekeeeprs in Ukraine
Enabling Batwa people to earn money through selling honey and beeswax
and to enhance their Social standing within their communities
Uganda Making Beekeeping Aim to enable people with disabilities, achieve a greater level of economic
Work for People with
and social empowerment- through beekeeping
Disabilities
Other projects
Ghana Buzz Club
Ghana Bee the Voice
Ethiopia More Bees
Ukraine Beekeepers
Bees for Batwall
To provide projects that meet the aims and objectives of the charity
Page 14

The Troy Trust, working title Bees for Development Trust
Notes to the Accounts
14 Analysis of net assets between funds
Unrestricted
funds
Net current assets
12,121
15 Reconciliation of net debt
Atlmay
2023
Cash flows
Cash and cash equivalents
584,000
584,000
{570,3191
{570,319}
Net debt
Page 15

The TroyTrust, workingtitle Bees for DevelopmentTrust
Detailed Statement of Financial Activities
for the year ended 30 April 2024
Unrestricted
funds
2024
Restricted
funds
Total funds
2024
Total funds
2023
2024
Income and endowments from:
Donations and legacies
Donations and Contributions from
individuals and organisations
Gift Aid recovered
Legacies and bequests
90,453
45
90,498
548,105
12,285
113,427
216,165
45
12,330
113,427
216,255
27,889
25,895
601,889
90
Charitable activities
Events income
12,530
12,530
32,000
44,530
9,863
155,969
165,832
32,000
32,000
Grant income
12,530
Other trading activities
Sales of goods and Services
Courses income
177
177
5,269
16,229
21,498
177
177
Investments
Interest receivable from bank
deposits
3,310
3,310
4,239
3,310
3,310
4,239
Other
Sponsored subscriptionslcharities
Trust income
115
115
180
115
115
180
232,297
32,090
264,387
793,638
Total income and endowments
Expenditure on:
Governance costs
Independent Examiners fees
360
360
350
360
360
350
360
360
350
Total of expenditure on charitable
artivitles
Other expenditure
Project Expenditure
Transferto Beesfor
3,205
3,205
494,918
698,377
111,623
810,000
Development CIO
701,582
701,582
111,623
111,623
813,205
813,205
494,918
494,918
Total of expenditure of other costs
701,942
111,623
813,565
495,268
Page 16

The Troy Trust, working title Bees for Development Trust
Detailed Statement of Financial Activitie5
Net (expenditure)/income
1469,6451
{79,5331
{549,178)
298,370
Net (expenditure)/income before
other gains/llosses)
Other Gains
1469,6451
{79,5331
{549,178)
298,370
Net movement in funds
{469,645)
179.533}
1549,178)
298,370
Reconciliation of funds:
Total funds brought forward
481,766
79,533
561,299
262,929
Total funds carrled forward
12,121
12,121
561,299
Page 17