Charity Commlssion registration number., 1080803 THE GURNEY CHARITABLE TRUST Unaudited financial statements for the year ended 5 April 2024 Swindells Chartered Accountant5 Atlantic House 8 Bell ne Ucl<fleld East Sussex TN22 IQL
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Contents Pages Trustees, report Independent Examlner's report Statement of fina nclal actlvitles Balance sheet 8-12 Notes to the accounts 13 Schedule of investments 14-15 Schedu le of dividends and investments 16 Cash account Pages 13 to 16 do not form part of the finencial statements.
THE fjURNEY CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2Q24 The trustees have pleasure in presenting their report and the accounts for the trust for the year ended 5 Aprll 2023. The trustee5 have adopted the provision5 of Accounting and Reporting by Charities,, Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporti ng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. Prlnclpol actlvities The Charity wa5 formed under a DeclaratlDn of Trust dated 9 June 1990 and is registered under the Charities Act 2011. The rraln purpose of the charity is to provlde income for charitable purposes at the tru5tee5' discretion. Objects andpublic benefit The trustees shall hold the capital and income of the trust fund upon trust to apply the income and all or such part or parts of the capltal for or towards such charitable purpose5 and to mal<e donations to such charitable institution or institutions at such tlme or tirnes and in such a manner as the trustees may, in their absolute discretion, thlnk fit. The trustees may, at their absolute discretion, for the period of twenty one years from the date of the deed, instead of applying the income of the charity in any one year, accumulate all or any part of such income at cornpound interest by investing the Same and any resulting income in any of the authorised investments. This income may then be held as an accretion to and as part of the capital of the charlty wlthout prejudice to their right to apply the whole or such accumulated income in any subsequent year as if the same were the Income of the charlty arlslng In the then current year. The trustees conflrm that they have complled wlth the duty in section 4 of the Charities Act 2011 to have due re8ard to the Charity Commission's general guidance on public benefit. The charity provides public benefit by making donations to charitable institutions or Instltutlons selected by the trustees. BecislDns on which Instltutlons to donate to are made by the trustees at lce annual trustee meetings. The trustees confirm that they have referred to the gLsidance contalned in the Charity Commission's general guidance on public benef it when reviewlng the trusys alms and oblettlve5. Power to wlnd up If at any time the tru5tee5 are of the opinion that the purpose of the charity can no longer be effectively carried out bv them, they shall wind up the charity and after discharging the debts of the Charity out of the trust fund they shall transfer the remainder of the trust fund to such other charitable body or bodles havlng objects the same as or slmilar to the charlty as the trustees shall select. Recrultment and appolntment of new trustee5 New trustees are recruited from within the familyj provided the existing trustees feel that the new trustee will add to the overall furtherance of the aims of the charity. New trustees are required to famili2rise themselves with the trustees, guidance supplied by the Charity Commission, Achlevements The trustees are pleased with the level of grant5 paid considering the current economic climate and the fact that the principal fundlng source is that of investments. The charity ai m5 to continue generating investment income in order to provide charity benefit5 i n line with its objective5, Review of the year There is a surplus of net Income generated In the year that can be distributed to charitable organisations of £73,857 12023 £31,195). In line with the objects of the charity the trust has made ch8ritable grant5 ènd donations In the year totalling £ L,QOO 12023 - £2,000), which is in line with the previous year.
THE GURNEY CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024- continued Review of the year- continued The charlty has f unded endowmet)ts of £30,000 to the Sussex Community Foundatlon, £25,000 to the Buckingham Community Foundation and £IO.000 to the Cumbrla Community Foundation. In total, the trust has funded endowments of £180,000 to the Sussex Community Foundation, £175,000 the Buckinghamshire Community Foundation, and £210,000 the Cumbria Community Foundatlon. This established "The Gurney Charitable Trust at the Buckinghamshire Community Foundation. "The Gurney Charitable Trust at the Sussex Community Foundation" and Yhe Gurney Charltable Trust at the Cumbria Communlty Foundatlon" The endowments are then held separately from general funds by the found8tions and are to be used to fund investment5 where the proceed5 are used to fund donations to charitie5 in the foundations, local communities, These endowments are irrevocable, and the final decision on which charities to make donations to is made by the trust. Two donations have been made by the foundations during the current year followlng the approv81 of the trust. There was a net Inflow of resource5 before investment returns of E6,05712023- EIII,1251 and It Is conflrmed that all funds continue to be unrestrlcted. There Is a net inflow of resources this year due to £25,000 received in relation to variations of covenants12023 - £67,5001 and E63,917 received from investment income12023 - £56,240). The balance held on deposit at the bank has decreased from £177,306 to £53,067. The trust sold several investments resulting in a reallsed loss for the year of £Ni512022- a loss of £46,235). There was also an unrealised gain Df £67,800 for the year12023- a loss of £33,694). The total market value of Investments shown on the balance sheet has increased as the market value of investment5 has increased due to the current market condltions. Due to the net inflow of resource5 thi5 year, the net assets of the charity have increased to £1,633,593 12023 £1,559,736). The net assets will continue to be used to generate income for distributlon to charltable organlsations. Grant maklng pollry The charltable dlstrlbutions are made up of Btsnts and donations. The decisions on which grants and donations are paid are made by the trustees. The level of grants and donations made each year 15 dependent on the investment income received on the inve5tment5 held by the charity. Investt77ent policy and performance It is the policy that funds surplus to the short-term requirements of the charity are invested in order to generate returns for the future operatlon of thè charity. rhe charity's investment portfolio is managed by Schroder Investment Management Limited, who has dlscretlonary powers of investment. The investment objectives of the trust are to generate high levels of income to enable them to make donatlOll5 to charities throughout the year, To allow the trust to achieve these objective5 all the previous investments have been sold during the year and have been consolidated into one fund which will allow them to receive a greater level of dividend Income. The listed investments held during the year have provlded the required income in line with the charity's policy. The capltal value has increased due to the increase in world marl<ets and purchase of additional investments. Reserves pollry The charity holds adequate reserves in order to ensure that It can meet its objectives to mal<e grants and donations to charitable institutions or other institutions on a long-term basls. The levels of reserves held to fulfil this pollcy are determined by the trustees Dn an ongoing b2SIS. Rlsk pollry The risks to which the charity is exposed are reviewed by the trustee5 on an ongoing basis, System5 are developed in order to mitigate any risk5 a5 they are identified. The trustees meet periodically with Schroder Investment Management Limited who manage the investments.
THE GURNEY CHARITABLE TRUST TRUSTEE5' REPORT FOR THE YEAR ENDED 5 APRIL 2024- contlnued Trustees, responslbllltles Charlty law require5 the trustees to prepare financial statement5 for each financial year whlch show 2 true and falr vlew of the state of the charity and its financial activitie5 for that period. In preparing those f inancial statements, the trustees are required to., select 5Ultable accountlng pollcies and apply them consistently,, observe the methods and principles in the Charitles SORP 2015 IFRS 1021,. make judgments and estlmates that are reasonable and prudent; state whether applicable accounting standards snd statements of recommended practice have been followed, sublect to any departures disclosed and explalned In the financial statements,. and prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charity will continue in operational exlstence. The trustees are re5pon5ible for keeping proper accounting records which disclose with reasonable accurécy at any time the financial position of the charity and to enable them to ensure that the financial statements compSy with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for tal¢lng reasonable steps for the prevention and detection of fraud and other irregularitles, Charity information Date of declaration of trust Charitable trust deed Law of trust Perpetuity Charity registration number 9, June 1990 7, January 1999 En8land and Wales Charity in perpetuity 1080803 Trustees The names of the persons who were trustees throughout the year were as follow5., Drm JTGurney Mrs M Gurney MrA M Gurney Mr M Gibson Charlty address The Hundred House Pound Lane Framfleld East Sussex TN22 5RU
THE GURNEY CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024- contlnued Accountunts Investment advlsors Swlndells Chartered Accountants Atlantlc House 8 Bell Lane Uckfield East Sussex TN22 IQL Schroder & Co Limited 100 Wood Street London EC2V 7ER For and on behalf of the trustee5 of The Gurney Charitable Trust Dr M J TGurney 211,,(Lf Date
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE GURNEY CHARITABLE TRUST I report to the charity trustees on my examination of the accounts of the charlty for the year ended 5 Aprll 2024 whlch are set out on pages 6 to 12. Responsibilities and basis of report As the charity's tru5tee5 you are responsible for the preparation of the accounts in accordance with the requirements of the Ch3rities Act 20111'the Act'l. I report In respect of my examinatlon of the charity's accounts carried out under section 14S of the Act and in carryin8 out my examination I have followed all the appllc2ble Dlrectlons glven by the Charlty Commisslon under sectlon 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attentlon In connectlon wlth the examination Eiving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by sectlon 130 of the Act; or the accounts do not accord with those records,. or the account5 do not camply with the applicable requirements concerning the form and content of accounts Set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts glve a 'true and fair viemrf which is not a matter considered as part of an Independent examlnatlon. I have no concerns and have come across no other matters In connectlon wlth the examlnation to whlch attentlon should be drawn in thSs report In order to enable a proper understandin8 of the accounts to be reached. This report 15 made 501ely for your use and to the fullest extent permitted by law we do not accept re5pon5ibility to anyone other than the tru5tee5 for this report. Melanie Richard50n BA (Honsl FCA Independent Examiner Swlnd@Ils LLP Chartered Accountants Atlantlc House 8 Bell Lane Uckfield East Sussex TN22 IQL Date..
THE GURNEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOA THE YEAR ENDED 5 APRIL 2024 2024 2024 UnrestrlctÈd Unyestritted income capital funds fundg 2024 Total funds 2023 Total funds Note INCOME AND EXPENDITURE Income and endowments from: Other tradlng attlvltles Variation of covenants 25,000 25,000 67,500 Income from Investments Deposit interest UK Authori5ed Trust Interest Oversea5 Funds Interest Dividend5 fmrn UK authorised unlt trusts tlividends frorn over5ea5 funds UK Ordinary Divldends from REITS UK Property Ineome Dlvldends from REIT5 Rental income 3,114 3,114 1,157 20 401 53,633 779 60,589 60,589 250 250 250 Othei Income S2 compensatlon Total Income and endowments 63,953 25,000 88,953 123,740 Expènditurè.. Expenditure on charitable activities Grants pèld Fundlng of endowments Support costs Road maintenance costs Woodland maintenance costs Independent examiner's remuneration io li 1,000 65,000 1.000 65,000 2,fX)O 1,50 1,875 3,600 1,500 1,875 4,800 1,200 2,190 Expendlture on ralslng funds Legal and professional Investrnent commission and charges 15 15 8,706 15 8,411 8,706 Total expendlture 72.990 9,906 82,896 12,616 Net Bain51 Ilosse51 on investrnents Reallsed Ilossesl I galns on dlsposal of Investments unrealised11055e5118ains on Investment asset5 146,2351 67,800 67,800 133,6941 Total Ilossesl / galns 67,800 67,800 179,9291 Net income I lexpendlturel 19,0371 82,894 73,857 31,195 Total funds brought forward 90,882 1,468,854 1,559,736 1,528,541 Total fund5 carried forward 81,845 1,551,748 1,633,593 1,559,736 All actlvltles of the charlty are contlnulng. The notes on pages 8 to 12 form 8n integral part of these financlal statements,
THE GURNEY CHARITABIE TRUST ASAT 5TH APRIL2024 Balance sheet Note 2024 2023 Flxed assets Intangible Tangible Investments io 55,101 1.533,230 io 55,101 1,333,644 1,588,341 1,388,755 Current a5set5 Cash in hand, at the bank and on deposlt wlth brol(er5 53,067 53,067 177,306 177,306 Llabilitles due within one year Creditor5 Net current a$s0ts 17,8151 16,3251 45,252 170,981 Net assets 1,633,593 1,559,736 Represented bv Unre5tritted caplydl account Unrestrltted Income account 1,551,748 81,845 1,468,854 90.882 1,633,593 1,559,736 The financial statement5 were approved by the trustees on ,(LJ,(Lf and were signed on their behalf by.. Dr M J T Gurney The notes on pages 8 to 12 form an integral part of these financial ststements,
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Notes to the accounts Accounting PDliclès Ba515 of accounting The Gurney Charitable Trust Is a charlty registered In England. The address of the reglstered offlce Is glven In the charlty informatlon on page 3 of these flnancial statements. The nature of the charlty's operatlons and prlncipal activities are £rantln£ donatlons to local charities, The presentatlon currency of the flnanclal statements 15 the Pound Sterlin81£1. The financial statements of the charity, whlch Is a publlc beneflt entlty under FRS 102, have been prepared Sn accord?nce with the Charities SORP IFRS 1021 'AccDuntlng and Reportlng by Charltles: Statement Df Recommended Pr8Ctlce appllcable to charltles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 (effective I january 20191,, Financial Reporting Stsndard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The flnanclal statements have been prerjared under the hlstorical cost conventlon. Going cancern The trustees have assessed whethor tho going concern basis of preparatlon continue5 to be appropriate, based on whether there are any materlal uncertainties rel?ted to events or conditions that may cast significant doubt on the abilitv of the charitv to contlnue as a RoinR concern, At the tlme of approving the ftnanclal statements the trustees belleve that all approprlate measures have been or wlll be taken to ensu that the charity will be able to continue its operations for at least the next twelve months and thus conclude5 that the going concern basis remains appropriate, Income Income is accounted for on an accruals basls so far as It Is prudent to do so. Income Includes Income tsx recoverable where applicable. Resour5 expended Resources expended are accounted for on an accruals basls. Dlscretlonary grants and donations pald are accounted for on an accruals basis when the charity has irrevocably committed to these, Expendlture on charitable activities Management support GOSts provided by Mrs P Gibson, daughter of the trustee Dr M l T Gurney, together with associated reimbursement expenses are allocated evenly between the capltal and Income funds. Accountancy fees for 8ceounts preparatlon seNlces are allocated agalnst Income funds wlth the exception of the Independent Examiner's fee which 15 allocated against capitsl funds. Covenant income This is allocated to capitsl funds and is recognised when all conditions of the deed of variation of the covenant have been met and the consideration becomes payable, The trust's associated legal costs are paid by the developer end therefore not suffered by the trust nor shown in the statement of flnancial activlties, Trustees, remuneration and expenses No remuneratlon or expenses, directly or indirectly out of the funds of the charityi was paid or payable for the year to any trustee.
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Notes to the accounts- contlnuÈd Taxatlon As a registered charityi the trust Is generally exempt f rom income tax and capital gains tax, but not from VAT. Irrecoverable VAT Is Included In the cost of those expenses to whlch It relates. Current debtors and credltors Debtors and creditor5 Wlth np stated interest rate and receivable or payable within one year are recorded at transaction price. Any105ses arlslng from impalrment are recognlsed in eKpendlture. Investments Realised gains and losses on brought forward market values are taken to the statement of financial activities and allocated to capitsl funds. Investment Income Is taken Into account on the accruals basls and Is allocated to income funds. 1.10 Investment management policy Statement The charlty'5 investment portfollo Is managed by Schroder Investment Management Llmlted, which has discretionary powers of investment. The investment objective5 of the trust are to achieve a balance between capitsl growth and income, with a low risk profile. 1.11 Depreclatlan Depreclatlon is not char8ed on freehold land. 1.12 Donated assets Donated assets are Included on the balance sheet at 2 reasonable estlmate of thelr value on the date of donatlon. 1.13 Grants Grants payable are included in the accounts at the earlier of when these are paid or when the tharity becornes committed to paying them. They are pald firstly out of the Income fund then the capltal fund. Net Income resources for the year These are shown after charging accountancy costs of £4,80012023 £2,190), of which £1,20012023 £5481 relates to the Independent examlnatlon of the accounts, The Independent examlnation cost Is allocated agalnst the capltal fund, other accountancy fees are allocated agalnst the Income fund. Galns or losses on dlsposal of Investment assets Galns and105ges are calculated on the dlfference between the market value brought forward, or cost If acqulred In the year, and the net sale proceeds. Llnrealised gains or1055es on the revaluation of investment assets Unrealised gains or losses on the revaluation of investment assets represent the change in market value from the prevlous year or purchase prlce If acqulred during the year.
THE GURNEY CHAf<iTABLETRUST YEAR ENDED 5TH APRIL2024 Notes to the occounts- ¢ontinued Tangible flxed assets Non~depreciating freehold land Stratton Chase Chalfont st Giles Ellwood Road Manor Road Penn Total Gross book value at 6th April 2023 5,100 50,000 55,101 Revaluatlon Gr05s book value at 5th April 2024 5,100 50,000 55,101 Thè trust Is the ownèr of a small plece of woodland whSch w35 glfted to the trust at Its commencernent on 9 June 1990. Thls plecè of land has been vslued at approxlmztely £200,000. It IS the charftV'5 policy that don8ted assets are Included at a reasonzble estlmate of the vzlue on the date of donation 8nd therefore this land is included In flxed assets at 8 value of £50,000. The trust is the owner of the freehold of a road at Manor Road, Penn, Buckingham5hire, HPIO 81A which had been glfted to the trust al its commencement on 9 lune 1990. The road generates no income and 15 unlikely to do so In the future. Due to thls, the road 15 thought to have a nomlnal value of £1 both at the dale of donatlon and as at the balance sheet date. All fixed assets are used for the furtherance of the charity's objectives. The tangible assets are all valued at an estlmate of their value upon their donation to the trust. It Is not consldered cost bÈneficlal or practlcable by the trustees to carry out a revaluation of the trust assets. IntBnglble flxed assets Non depreclatlng covenant Gross boolc value at 6th April 2023 and 5th April 2024 io The intangible assets of the eharity are restrlctive covenants Imposed on areas of land In Beaconsfield, Chalfont and Gerr8rds Cr055, Buckinghamshire. These eovenants typlcally restrlct the number of dwellings per plot of land sold to one dwelling. Income is received In respett of these covenants by way of an application for the variatlon of the covenants when the land owners wish to increase the number of dwellin85 on each plot, Total income received in this respect for the year amounts to £25,00012023- £67,500), The re5trlctive covenants were given to the trust and are Included In the accounts at a nomlnal value of £10. The market value of the restrictive eoven8nts cannot be predetermlned as thls Is dependent on the speclflc clrcumsl3nces of each plot of land and the v8rlations requlred. io
THE GURNEYCHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Notes to the account5- ¢ontinued Fixed a55et investment5 C05t Market value Orlginal cogt/market value As at 6th April 2023 Acquisitions in year Disposals in year Movement on accrued income Unrealised gain for the year As at 5th April 2024 1,353,475 130,140 1,333,644 130,140 1,646 67,800 1,533,230 1,483,615 20Z4 Cost 2024 Market value 2023 Cost 2023 Market valuÈ charity authorised funds 1,483,615 1,533,230 1,353,475 1,333,644 1,483,615 1,533,230 1,353,475 1,333,644 The Investments are held prlmarily to provlde an Investment return for the charlty. They are included in the accou nts at marl(et value at the bal£nce sheet date. All investments are listed Dn a recogni5ed stock eKch4nge. Crèdltors 2024 2023 Accountancy accrual Schroder management fees accrual Deferred income - rent received in advance 5,520 2,265 30 3,960 2,100 265 7,815 6,325 li
THE GLIRNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Notes to the accounts- contlnued Funds The charity ha5 two unrestricted funds,. the income fund and the capltal fund. The surplus on each fund can be utlllsed at thÈ trLJStèes' dlscretlon wlth the only restrictlon on these funds belng that they are used for or towards charitable purposes. Summary of net assets by fund., 2024 2023 Capltal func4 Fixed assets Net cu rrent assets 1,588,341 136,5931 1,551,748 1,388,755 80,099 1,468,854 2024 Z023 Incomefund Flxed assets Net current assets 81,845 81,845 90,882 90,882 2024 2023 Total Fixed assets Net current assets 1,588,341 45,252 1,633,593 1,388,755 170,981 1,559.736 io. Grants pald Number of grants 2024 2023 To in5titution5'. Towner Art fjallery-AIM Glyndebourne Trust 1,000 1,000 1,000 1,000 2,000 ii. Endowments Nurnber of grants 2024 2023 Cumbria Community Fou ndatlon 8uckinghamshire Community Foundation Sussex Communlty Foundation io,ooo 25,000 30,000 65,000 In total, the charlty has funded endowments of £180,000 to thè Sussex Community Foundation, £175,000 to the Bucklngham Communlty Foundatlon and £210,000 to the Cumbria Community Foundation. There are three Communlty Foundatlons which act on behalf of the charity. They Zre in charge of maklng the charltable donatlons of behalf of the charity. The trustees of the charity oversee and have the decision regarding which charities the donations are made to, 12, Controlling parties The trustees have overall control of the trust. 12
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Schedule of investments Market value Cost Alternative investments Other SUTL Cazenove Charity Responsible No Multi-asset Fund Units 2,740,180.96 1,483,615 1,533,230 1,483,615 1,533,23D During last year the charity has sold all of their previous investments and has consolldated thelr new investments into one fund. Thi5 has been done on the advlse of the Schroder Investment Management Limited, as the new investment objectives of the charity are to earn high levels of income to provide them with flexibllity tn makp dnn8tinnq. This page does not form part of the ststutory flnanclal statements. 13
THE GURNEY CHARITABLE TRUST YEAR EN)ED 5TH APRIL 2024 Dividends from UK authorised unit trust Dlvldend Date Security name 31105123 SUTL Cazenove Charlty Responsible Multi-Asset Fund Units -5-GBP 31108/23 SUTL Cazenove Charity Responsible Multi-Asset Fund Units -S-GBP 30111/23 SUTL Cazenove Charlty Responsible Multl-Asset Fund Unlts -S-GBP 29/02/24 SUTL Cazenove Charity Responsible Multl-Asset Fund Units -S-GBP 14,346 14,436 14,465 15,696 58,943 This page does not form part of the statutory financial statements. 14
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 UK Accrued Interest on Bonds Date Security name Net 05/04124 SUTL Cazenove Charity Sustainable Multi-Asset Fund Units -S-GBP 05/04124 Cash Investment account 15,992 22 16,014 This page does not form part of the statutory flnanclal statements, 15
THE GURNEY CHARITABLE TRUST YEAR ENDED 5TH APRIL 2024 Cash account 2024 2023 Payments recelved for varlatlon5 of covenants 25,000 67,500 Add: recelpts from ¢apital tran5actlon5 Proceeds on di5P0531 of investments 1,519,335 1,519,335 Add: In¢ome recelved Deposit interest received Interest bearlng securlties Interest Dividends received Dividends from overseas funds I nterest from overseas funds 3.114 1,157 20 39,770 779 401 58,943 62,057 42,127 Less.. payments Purchase of investments Funding of endDwments Accountancy Road maintenance costs Woodland maintenance costs Management charge5 paid in year 130,140 65,000 3,240 1,500 1,875 8,541 1,512,050 2,250 10,524 1210,2961 1123,2391 11,524,824) 104,138 Less: donations made 11,0001 1124,2391 12,0001 102,138 Balance brought forward 177,306 75,168 53,067 177,306 Represènted by Barclays Bank Plc.. Current account Dep051t account 26,191 2,788 93,806 2,752 Schroder account 24,088 80,748 53,067 177,306 Thls page does ror form part of the statutory Financlal statements. 16