COMPANY REGISTrATION NUMBER: 04529052
CHARrrY REGIsfRATION NUMBER: 1094720
THE PERCY BILTON CHARITY
COMPANY UMtfED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024

THE PERCY BILTON CHARrrY
COMPANY UMITED BY GUARAf4TEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
PAGE
Trustees, annual rep)rt (Inc¢xtM)ratlThJ the directorfs rqxrt)
IndeperKÈnt audltorfs report to the members
ststement of finandal actlvities (induding Sncome and experKlthre accwnt)
12
Ststement of finanaal positlon
13
Statement of cash fiows
14
Notes to the financlal statements
15

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
TRusfEES' ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT)
YEAR ENDED 31 MARCH 2024
The trustees, who are a150 the dlrectors for the purposes of company law, present their ￿pOrt and the
financlal statements of the charlty for the year ended 31 March 2024.
Refernnce and admlnistrative detslls
Reglstered charlty name
The Percy Bllton Charlty
Charlty reglstration number 1094720
Company reglstratlon
number
04529052
Prlnclpal office and
Reglstered office
Bllton House
7 Culmlngton Road
Eallng
London
W13 9NB
The trustees
MrJRLee
Ms H Bllton
Ms K Lanthwn
Mr C L Sosna
Mr B Chan
Company secretsry
Ms K Lansdown
Audltor
TC Group
Statutory Audltor
Lynton House
7-12 Tavlstock Square
London
WCIH 9BQ
Bankers
HSBC Bank PLC
46 The Broadway
London
W5 5JR
Solicitors
ma￿eS Teesdale LLP
30 Klng Str￿t
London
EC2V 8EE

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
TRusfEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) fcondnueé)
YEAR ENDED 31 MARCH 2024
Strurturei governanrx and management
The DIr￿tOrS, who are also the Trustees for the purpose of the Charltles Act 2011, present thelr annual
report and audlted financlal statements for the financial year ended 31 March 2024. In this Rep)rt we
refer to the Percy Bllton Charlty as "the Charlty" for the purpose of repJtlng on Its activities durlng the
year. The Charity is a company Ilmlted by guarantee and Its govemlng document Is the memorandum
and articles of association. The Charity's objects are to cary out actlvltles relatlng to the rellef of
poverty, the advan￿ment of educatlon and other exclusively charltable purposes in the U.K.
Appolntment of New Trustees:
When required, new Trustees wlll be appNJlnted by the Board of Trust￿ In order to provlde the Board
wlth the appropriate tsalan￿ of expertlse and experfjen￿. They wlll be provlded wlth Informatlon about
the Charlty and kept Informed of relevant developments In the chartty settor.
Organlsatlonal structure:
The Trustees ￿vIeW thelr grant-maklng pollcles on a regular basts at least every five years, guldelines
re publlshed on the Charfty's webslte at www.percyblltoncharlty.org.uk. The full Trustee Board meets
quarterly to consider Large Grant applicatlons and to recelve ￿pOrts from the sub-commlttees. The
Small Grants and grants to Ir￿5vIdualS In Need programmes run throughout the year and an appllcatlon
on be made at any tlme.
Objertlves and actlvltles
The Charlty's objects a￿ the support of:
older people
chlldren or adults wlth leamlng or physlcal dlsablllties or mental health problems
chlldren and young people who are sodally or educatlonally dlsadvantaged.
The Dlrectors confirm that they had due regard to the guldance contalned In the Charlty Commlsslon's
general guldance on publlc benefit when revlewing the Charlty's alms and objectlves and In plannlng
futu￿ actlvities and setting its grant-maklng pollcy.
The Charlty carrles out these objects by maklng grants to reglstered charftles In the U.K. whose primary
objectives match those of the Charitvs as stated ab¢)ve. The Charity also makes grants to Individuals in
need In the following groups who are sponsored by local or health authorltles:
older peO￿e on low Income
chlldren or adults wlth physlcal or learnlng dlsabllltses or mental health problems.
Revlew of actlvltles dur1ng the year:
The Charity distributed a total of £911,452 whlth represents 1,778 grants (2023 £844,723, 1,666
grants) for the financial year ended 31st March 2024. Grants that were not drawn down by 31st Marth
2024 were retained in the deslgnated SFeclal reserve fund which at 31st March 2024 was £200,540
(2023: £235,004). The designated speclal resen￿ fund represents grant offers whlch were not taken
up by the end of the finandal year for reasons specific to each application. We contlnue to monltor arKI
evaluate the use of grants by requestlng reports from tsneficiaries.

THE PERCY BILTON CHARrrY
COMPANY LIMITED BY GUARANTEE
TRusfEES' ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT) (¢ontinuad)
YEAR ENDED 31 MARCH 2024
Achievements and performance
The Charity's investment objectNe durlng the year was to achieve a reasonable long term overall retum
wlth an emphasis on Income to meet the needs of current benefiaaries whllst preserving the real value
of the capitsl in the long term to protect the Interests of future beneficlarles by i￿esting in a dlversified
portfolio of listed investments and fixed interest securities at moderate risk.
Grants to oryanisations
The Charlty's fundlng prloritie5 a￿ to support projects to provlde day centres, care homes, resplte care
facillties, theltered houslng, Independent livlng accommodation, educational and recreatlonal facllltles
f￿ older peopEe and those wlth physical or learnlng disabilities or endurlng mental health problems, as
well as educational and recreatlonal facilities or supported living schemes for disadvantaged young
people.
The Charity runs two programmes for organlsations, a main grants programme for larger donations and
a small grants programme for donations of up to £750 aimed at helplng smaller organisations with
immediate fijnding for equipment and furniture. A totsl of £483,108 (186 grdnts) was distributed to
organlsations under both pr()3rammes during the year (2023: £426,266 - 168 grants).
Grants to Individuals in Need
The Individuals in Need programme asssts people who have a physical or learnlng dlsability, enduring
mental health problems or a￿ over 65 and are faciThJ financlal hardship. During the year under review
the Charity paid grants totalling £428,344 - 1,592 grants (2023: £418,457 - 1,298 grants).

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
TRusfEES' ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT) (c<mtinued)
YEAR ENDED 31 MARCH 2024
Finanaal and investment review
The nRmorandum and article5 empower directors to invest in such investments, securltles or property
as may be thought fit subjett to any conditions arKI consents imposed or required by law and subject
to the terms in the memorandum and artIC￿S. The Charity's governing d¢xument authorises the
directors to delegate the investment dedslons to fund managers who invest and manage the Charitys
funds at their d[s￿tiOn.
The expendable endowment from the Charlty's founder, Mr Percy Bilton, is investej in a balanced
portfollo of equities and fixed Interest Instruments. The Investments are managed by Brewin Dolphln
and Sarasin & Partners. At 31st March 2024 the Brewln Dolphln portft)lio value incI￿ling cash was
£21,903,831 (2023: £20,780,373). Over the year the InVestM￿ts have increasa in value by
£1,392,708. The income from the portfolio was £572,713 for the year (2023: £642,497).
At 31st March 2024 the Sarasin & Partners portfollo value induding cash was £9,883,780 (2023:
£9,141,388). The value of the investments has increased by £713,374 durlng the year. The income from
the portfolio was £271,434 (2023: £262,408) ft)r the year.
The total Incomlng resources were £846,538 for the fsnancial year (2023: £908,413). Net income for
the year was £1,866.911 (2023: Net expendlture £2,419,361).
Freehold Property
The Charity owns and occuples a freehold Offi￿ property In West London.
Reserves policy
The Board considers It prudent to have sufficlent cash ￿erVeS and Ilquld assets to cover approved
grants and anticipated expenditure. The reserve5 a￿ detemiined wlth reference to the level of
estlmated Income from the investment p)rtfolio and the budgeted amount of grants. The Charity
considers appllcatlons throughout the year from organlsations and individuals and holding sufficient
reseNes enabled the Charlty to give financial support on an ongoing and conslstent basis.
At 31 March 2024 Charlty's free reserves amounted to £1,199,439 {2023: £1,350,703) in addltlon
to designated reserves of £200.540 (2023: £235,004).
Risk Management
The Board carried out a review of the areas of potential major rlsks faclng the Charity arKI assessed
their likelihood of Occurren￿ and p)tentlal Impact. The key risk area Is seen to be the management of
Investments. The Board are satisfied that appropriate controls are In pla￿ to mltlgate those risks arKI
protect the Charity's grant-makirg activities. The risk management p)licy is revlewed periodically.
Plans for future perlods
The Trustees plan to contlnue the grant-making attivities In future years provldlng supp)rt to
appropriate beneficiaries.
Trustees. responslbllttles statement
The trustees, who are also directors for the pU￿oSe$ of company law, are restK)nsible for preparlng the
trustees, report and the financial statements In accordan￿ with at)pllcable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting PractiTr).

THE PERCY BILTON CHARrrY
COMPANY UMrrED BY GUARANTEE
TRusfEES' ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT) (contlnued)
YEAR ENDED 31 MARCH 2024
Company law requires the charity trustees to prepare flnancial ststements for each year whlth glve a
true and falr vlew of the state of affalrs of the charltable company and the Incomlng resources an
appllcatlon of resources, Induding the income and expendlture, for that period.
In prepartng these finanaal statements, the trustees are requlred to:
select sultsble accountlng pdicles and then apply them conslstently;
observe the methods and prfnclples In the appllcable Charftles SORP;
make Judgments and accountlng estlmates that a￿ ￿asOnable and prudent.
prepare the flnanclal ststements on the golng concern basls unless It Is Inapproprlate to presume
that the charlty wlll continue In business.
The trustees are responslble for keeplng adequate accounting records that are sufficlent to $l￿W and
explaln the charlty's transactlons and dlxlose wSth reasonable accuracy at any tlme the finandal posltlon
of the charlty and enable them to ensure that the financlal ststements comply wlth the Companles Act
2006. They are also ￿spOnSIble for safeguardlng the assets of the charlty and hence for taklng
asonable steps ft)r the preventlon and detectlon of fraud and other Irregularltles.
Audltor
Each of the persons who Is a trustee at the date of approval of thls report conflrms that:
so far as they are aware, there Is no relevant audlt Informatlon of whlch the charlty's audltor Is
unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audlt Snformatlon and to establlsh that the charlty's audltor Is aware of that
Informatlon.
The audltor Is deemed to have been re-appolnted In accordance wlth sethon 487 of the Companles Act
2006.
Small company provisions
Thls ￿pOrt has been p￿pared In accordan￿ wlth the provlslons appllcable to companles entltled to the
small companles exemption.

THE PERCY BILTON CHARrrY
COMPANY UMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT) Icanth￿)
YEAR ENDED 31 MARCH 2024
The trustees, annual report was approved on .1.1: .l.:.A..*........... and stgned on behalf of the board of
MrJR
Tnjstee

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARAiifEE
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE PERCY BILTON CHARrrY
YEAR ENDED 31 MARCH 2024
Opinion
We have audited ts finar￿la1 statements cl The Pwcy B11t(￿ Charity (the 'd7aritV) for the year endal
31 March 2024 which comprise the staten￿t of finandal activities (indLKJing income and expenditure
account), statement of financkil t￿￿tic￿, Statern￿t of cash flows and the related notes, Ind￿lIng a
summary of slgnlficant accounting rK)lioes. The finanoal reporting framework that has been applied in
their preparati￿ is applicable law arKI United KI.￿jd0rn Accounting Standards, Induding FRS 102 The
Financial Reporting Standard a￿lICable in UK and Republic of Ireland (United Kingdom Generally
Accepted AccountlrvJ Pract1￿).
In our opinion the finandal statememts:
give a true and falr view of the state of the charity's affairs as at 31 March 2024 and of Its Incomlng
resour￿ and appllcation of resour￿, indudiNJ its income and expenditure, for the year then
ended;
have been properly prepared In acc(Kthn￿ wlth Unlted Klngdom Generally Accepted Accountlng
Practlce;
have been prepared In accordan￿ wbth the reOulran￿ts of the Companles Att 21J06 arKI the
Charltles Act 2011.
Basls for oplnlon
We conducted our a￿lt In accordan￿ wlth IntematK)nal Stsndards on Audltlng (UK) (ISAS (UK)) and
appllcable law. Our re¥K)nsibilities undtr those standards are further described In the audltorfs
responslbllltles for the aLKlIt of the finanaal statements sectk)n of our rep￿. We a￿ Independent of
the charity Sn accordance wlth the ethical requirements that are relerfant to our audit of the finanoal
statements In the UK, indudlng the FRC'S Ethical Standard, and we have ftjlfilled our other ethical
responslbilities in accordan￿ with these requirements. We belEve that the audit evidence V￿ have
obtalned is sUffi￿nt and approwiate to provlde a basis for our o[Mnl￿.
Concluslons relatlng to golng concern
In audltlng the flnanclal statements, we have conduded that the trustees, use of the going concern
basls of acccAJntlng In the p￿parath)n of the finarKial ststements Is apwoprfate.
Based on the work we have puforme(J, we have nrt Id￿tIfied any matslal un￿rtaIntleS relatlng to
events or corKIIUons that, individually or collecttvdy, may cast sgnificant ¢Joubt on charitys ability
to continue as a going concem for a cl at least twelve months when the finandal statements
are authorised for issue.
Our respjnsibillties and the reSP￿SIbIlItIeS of the tru&ees with re4Xt to golng C￿￿rn are described
in the ￿leVant sections of this repM)rt.

THE PERCY BILTON CHARITY
COMPANY LIMrrED BY GUARANTEE
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE PERCY BILTON CHARrrY
YEAR ENDED 31 MARCH 2024
Other infornialjon
The other infomiation Com￿seS the infcrntion induded In the annual rep)rt, other than the financial
statements and our auditorfs report thereon. The trustees are responsible for the other informatlon. Our
opinion on the finanaal Statements does not cover the other Information and, eJcept to the extent
otherwlse expliatty statsi In our repNt, we (b not express any form of assurance conclusion thereon.
In connection wlth our audtt of the finandal Statern￿ts, our responsibillty Is to other
information and, in doing so, conslder whether other information is materially inconsistent with the
financSal statements or our knowledge obtalned In the aLKlit or otherwi* appears to be materially
mlsstated. If V￿ identlfy such materlal I￿onSIstenC1eS or apparent materlal mlsstatements, we are
required to determine whether there is a material misstatement in the finanaal statements or a material
mlsstatement of the other information. If, based on the W￿rk we have kErformed, we conclude that
there Is a materfal missratement of this ottrEr inforniation, we a￿ required to report that fact.
We have nothlng to report In thls regard.
Oplnlons on other matters prescrfbed by the C4xnpanles Art 2006
In our oplnlon, based on the work urxjtrtsken In the course of the audlt:
the Infomiatlon glven In the tru#ees' ￿port for the finarKlal year for whlch the financlal ststements
are prepared Is con￿stent vAth financlal ststema)ts' and
the trust￿$, re￿rt has been prepared In aCC(Kdan￿ wlth applICat￿ legal reqUI￿rnents.
Matters on whlch we are requlred to report by exCe￿on
In the light of ttE knowledge and understanding of the charlty Its emilronm￿t obtalned In the
course of the audlt, we have r￿t Identlfied materral mi5Statements In the trusteeg ￿￿rt.
We have nothlng to report In reSp￿t of the following matters in rdation to whlch the Companies Act
2006 arKI the Charltles Att 2011 requlres us to reFy)rt to Sf, In wr oplnlon:
adequate accounung r￿rdS have rK)t b￿n kepL or returns adequate for our a￿JIt have not been
re￿IVed from branches not NlsSted by us; or
the flnarKial stateffEnts are not in agreern￿t with the accountlrKJ records and retums. or
certaln dlsclosures of trustees, reMUneratt(￿ St￿lfi￿ by law are not made. or
we have not recelved all the infomiation and explarkltlons we requi￿ for our audlt; or
the trustees Y￿￿ not entitled to prepa￿ the finarKlal ststements in accordan￿ wlth the small
companies reglme and take advantage of the small companies, exemptK)ns in preparing the
directors, reFort and from the requir￿nent to prepare a strategic report.

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PERCY BILTON CHARrrY
(contlnuedj
YEAR ENDED 31 MARCH 2024
Responslbllltles of trustees
As explained MO￿ fully In the trustees, responslbilitles statement, the trUSt￿S (who are also the
dlrectors for the purpo￿ of company law) are responslble for the preparatlon of the financial
statements and for being satlsfied that they give a true and fair view, and for such Intemal control as
the trustees detennlne Is necessary to enable the preparatlon of flnanclal statements that are free from
material misstatement, whether due to fraud or error.
In txeparlng the finandal statsments, the trustees are responslble for assesslng the charlty's ablllty to
contlnue as a going COn￿rn, dlscloslng, as appllcable, matters related to golng concern and uslng the
golng con￿rn basls of accountlng unless the trustees elther Intend to Ilquldate the charlty or to cease
operations, or have no reallstlc alternative but to do so.
Audltor's responslbllltles for the audlt of the financial statements
Our objectlves are to obtsln reasonable assuran￿ about whether financlal ststements as a whole
are free from materfal mlsstatement, whether due to fraud or error, and to Issue an audltor's report
that Includes our oplnlon. Reasonable assuran￿ Is a hlgh level of assuran￿, butls not a guarantee that
an audlt conducted In accordan￿ wlth ISAS (UK) wlll always detect a materlal mlsstatement when It
exlsts. Mlsstatements can arlse from fraud or error and are consldered materSal If, Indlvldually or In the
aggregate, they could reasonably be eX￿ted to Influence the economlc declslons of users taken on
the ba515 of these financlal statements.
Irregularltles, Indudlng fraud, a￿ Instances of non-compllance wlth laws and regulatlons. We deslgn
procedures In Ilne wlth our ￿SponSibl11t1es, outllned above, to detect materlal mlsstatements In respett
of Irregularltles, Includlng fraud. The extent to which our procedures are capable of detectlng
Irregularities, Includlng fraud Is detalled below:
Extent to whlch the audlt was consldered capable of detectlng Irregularltles, Includlng
fraud
The objectlves of our audlL In respect to fraud, are: to Identlfy and assess the rlsks of materlal
misstatement of the financlal ststements due to fraud; to obtaln suffident apprq)rlate audlt evlden
regardlng the assessed rlsks of material mlsstatement due to fraud, through deslgnlng and
implementlng appropriate ￿spOnSe5. and to respond approprlately to fraud or suspected fraud Identlfled
durlng the audit. However, the primary responslblllty for the preventlon and detectlon of fraud rests
wlth b)th charged wlth governan￿ of the entity and its management.
Our approach was as follows:
We identiftej areas of laws and regulatlons that could reasonably be expected to have a material
effect on the financlal statements from our general commerclal and sertor experience, and through
dlscusslon wlth the directors and other management (as required by auditing standards), and
dlscussed wlth the dlrettots and other management the policies and procedures regarding
complIan￿ wlth laws and ￿ula￿'0ns;
We consKJered the legal and ￿ulatOry frameworks dlrectly ap￿ICable to the financlal statements
reporting
framework (FRS 102, Charlties SORP FRS 102, Companles Act 2006 and the Charities Act 2011)
and the ￿levant tsx complIan￿ regulats'ons in the UK;
We consldered the natu￿ of the Industry, the control environment and buslness performan￿,
Includlng the key drlvers for managemenvs remuneratlon.

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PERCY BILTON CHARrrY
(L¥mtlnued)
YEAR ENDED 31 MARCH 2024
We communlcataj identified laws and regulatlons throughout our team and remained alert to any
Indlcatlons of non-complian￿ throughout the audlt;
We consldered the procedures and controls that the company has establlshed to address risks
identified, or that otherwAse prevent, deter and detect fraud; and how senlor management
monltors those programmes
and controls.
Based on thls understandlng deslgned our audlt procedures to Identlfy n0n-c0mpllan￿ viith such
laws and regulatlons. whe￿ the rlsk was consldered to be hlgher, we performed audlt procedures to
address each identlfied fraud risk. These procedures Induded: testlng manual Journals. revlewlng the
financlal statement dlsclosures and testlng to supportlng documentation; performlng ana1￿Cal
procedures; revlewlng mlnutes of trustee meetlngs. performlng approprlate testlng In respett of the
rlsk of fraud In revenue ￿agnItIon through a revlew of Investment Income ￿p)rtS and bank recelpts;
testlng the valldlty of grants payable ty agreelng to appllcatlons, underlylng purchases and authorlsatlon
procedures; and enqulrlng of management; and were deslgned to provlde reasonable assurance that
the flnanclal statements were free from fraud or error.
Owing to the inherent Ilmltatlons of an audlt, there Is an unavoldable rlsk that we may not have detected
some materlal mlsstatements In the financlal statements, even though we have properly planned and
perfomied our audlt In accordance wlth audltlng standards. For example, the further ￿MOVed non-
compllance wlth laws and regulatlons (Irregularltles) Is from the events and transacdons reflected In the
financlal statements, the less Ilkely the Inherently Ilmlted pr￿edureS requlred by audltlng standards
would Identlfy It. The rfsk Is also greater regardlng Irregularltles occurrfng due to fraud rather than error,
as fraud Involves Intentlonal concealment, forgery, colluslon, omlsslon or mlsrepresentauon. We are not
responslble for preventlng non-compllance and cannot be expected to detect non-c0mp1lan￿ wlth all
laws and wulatlons,
A further descrtptlon of our responsibilltles for the audlt of the finandal statements Is locat&1 on the
Flnanclal Repjrtlng Council's webslte at Mvw.frc.org.uk/audltorsresponslbllltles. Thls descrlptlon forms
part of our audltor s repjrt.
io

THE PERCY BILTON CHARrrY
COMPANY UMrrED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PERCY BILTON CHARrrY
{￿ntinued)
YEAR ENDED 31 MARCH 2024
Use of our report
Thls repjrt Is made solely to the charity's members, as a bcdy, in accordan￿ with section IH of the
Charitles Att 2011 and regulatlons made under sectlon 154 of that Art. Our audit work has been
undertaken so that we might state to the charitys members those matters we are required to state to
them In an auditor's ￿port and for no other purpose. To the fullest extent permitted by law, we do not
acw or assume responsibility to anyone other than the charity and the charity's members as a body,
for our audit vlork, for thls repor( or for the oplnions we have formed.
(G crt)￿R
Gary All￿ FCA (knior Statutory Audltor)
For and on behalf of
TC Group
ststutory Auditor
Lynton House
7-12 Tavistock Square
London
WCIH 9BQ
li

THE PERCY BILTON CHARrrY
COMPANY LIMITED BY GUARANTEE
srATEMEKf OF FINANCIAL AcrIvrrIES
(INCLUDING INCOME AND EXPENDrruRE ACCOUNT)
YEAR ENDED 31 MARCH 2024
2024
Unrestrlcted Endowment
funds
funds Totsl funds Total funds
2023
Note
Income and endowments
Charitable activities
Investment income
2,250
8H,288
846,538
2,250
844,288
846,538
3,508
904,905
908,413
Totsi income
Expenditure
Expenditure on raising funds:
Investment management costs
EXper￿ltUre on charitable attivities
Total expenditure
(53,443)
(53,443)
(51,601)
(1,032,266) (967,199)
(53,443) (1,085,709) (1,018,800)
8,9 (1,032,266)
(1,032,266)
Net gainsl(bsses) on investments
12
2,106,082
2,106,082 (2,308,974)
Net incomel(expenditure) and net
movement in funds
(185,728) 2,052,639
1,866,911 (2,419,361)
Reconaliation of funds
Totsl funds brought forward
Total funds carried forward
2,025,707 28,378,859 30,404,566 32,823,927
1,839,979 30,431,498 32,271,477 30,404,566
The statement of finanaal attivities indudes all galns and losses recognlsed In the year.
All income and expenditure derive from continuing activities.
The notes on pages 15 to 23 forni part of these financlal statements.
12

THE PERCY BILTON CHARrrY
COMPANY UMrrED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024
2023
Flxed assets
Tangible fixed assets
Investments
16
17
440,229
31,557,481
31,997,710
440,229
29,583,756
30,023,985
Current assets
Debtors
Cash at bank and In hand
611
312,109
312,720
611
422,880
423,491
Credltorg: amounts falllng due
wlthln one year
Net current assets
19
(38,953)
(42,910)
273,767
380,581
30,404,566
30,404,566
T¢)tsl assets less current Ilabllltles
32,271,477
32,271,477
Net assets
Funds of the charlty
Endowment funds
Unrestrfcted funds
30,431,498
1,839,979
32,271,477
28,378,859
2,025,707
30,404,566
Total charlty funds
21
These financlal statements have been p￿pared In accordance wlth the provisions appllcable to
companles subject to the small companles, reglme.
Thes
.11..
nanclal ststements were approved by the board of trustees and authorlsed for Issue on
.lo.*, and are slgned on behalf of the board by:
MrJRLee
Tru
Ms K Lansdown
Trustee
The notes on pages 15 to 23 form part of these financlal statements.
13

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
srATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activitie5
Net income/(expenditure)
1,866,911 (2,419,361)
Adjusthents for..
Net galns/(losses) on investments
Dividends, interest and rents from Investrnents
Other interest receivatrAe and slmllar IrKome
Accrued expenses
(2,106,082) 2,308,974
(844, 147) (904,905)
(141)
196
1,265
anges in..
Trade and other debtors
Trade and other creditors
349
(4,153)
(51,590)
(1,087,416) (1,065,268)
Cash generated from operations
interest recelved
141
Net ca4) used In operatlng actlvlties
(1,087,275) (1,065,268)
Cash flows from investing activities
Dividends, interest and rents from Investments
Purchases of other investments
P￿eedS from sale of other inveStsn￿1ts
8+1,147
904,905
(6,062,392) (5,462,481)
6,194,749
5,247,089
976,504
689,513
Net cash from investing activlties
Net decrease In cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equlvalents at end of y￿r
(110,771) (375,755)
422,880
798,635
312,109
422,880
The notes on pages 15 to 23 forni part of these financial statements.
14-

THE PERCY BILTON CHARrrY
COMPANY UMfTED BY GUARANTEE
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 MARCH 2024
General Infornmtion
The charlty Is a publlc benefit entity and a prfvate company Ilmlted by guarantee, reglstered in
England and Wales and a registered charity in England and Wales. The address of the reglstered
Offl￿ Is Bllton House, 7 Culmlngton Road, Eallng, London, W13 9NB.
Statement of compliance
These flnandal statements have been prepared In complIan￿ wlth FRS 102, The Flnancial
Reporting Standard applicable In the UK and the Republlc of Ireland,, the Statement of
Recommended Pract1￿ appllcable to charltles preparlng thelr accounts In accordan￿ wlth the
Flnanclal Reportlng Stsndard appllcable In the UK and Republlc of Ireland (FRS 102) {CharltJes
SORP (FRS 102)) and the Companles Act 2006.
Accountlng pollcles
Basls of preparatlon
The financlal statements have been p￿pared on the hlstorlcal cost basls, as modffied by the
revaluatlon of Investments measured at fair value through Income or expendlture.
Golng concern
The trustees have consldered the golng concem status of the Charlty and, based on contlnulng
hlgh levels of Investment Income and the Ilquldlty of the Investment portfollo, have not Identlfied
any materlal un￿rtaInty regardlng golng cOn￿rn.
Judgements and key sourcqs of estlmatlon unc¢rtalnty
The preparatlon of the flnanclal statements requlres management to make Judgements, estlmates
and assumptlons that affect the amounts ￿pOrted. These estlmates and Judgements a
contlnually reviewed and are based on eXperfen￿ and other factors, Includlng expeLtatlons of
future events that are belleved to be reasonable under the clrcumstantrs.
Fund accountlng
Unrestricted funds are avallable for use at the dlscretion of the trustees to further any of the
charlty's purposes.
Designated fvnds a￿ unrestrlcted fijnds earmarked by the trustees for partlcular future project or
commitment.
Restricted funds a￿ subjected to restrlctlons on thelr expenditure declared by the donor or through
the terms of an appeal, and fall into one of tsvo sub-classes: restrittal income funds or endowment
funds.
Is

THE PERCY BILTON CHARrrY
COMPANY LIMITED BY GUARAKfEE
NOTES TO THE FINANaAL STATEMENfs (cortIn￿)
YEAR ENDED 31 MARCH 2024
Ac¢ount•ng policies fcmtbwedj
Incomlng resources
All IncomlrHJ resour￿ are itKluded in the statement of financial actlvlties when entitlement has
passed to the charlty; It Is wobable that ts ￿nomIC beneffts asg)aated wlth the transaction will
flow to the charfty and the amount can be rellat￿Y measured. The followlng SFeclfic polioes a
appll&J to par￿CUlar categorles of incorne:
income from d￿atIOnS or grants Is T￿OgnISed when there ts eVId￿e of entitlement to the
gift, recelpt Is probable armd its amount can be mea9Jred rdiably.
gaq Income Is recognlsed when r￿￿pt Is wobable and ￿tttIernent Is estaulthed.
Income from donated gL￿S Is measured at the falr value of the goods unless thls Is
Impractkal to measure rellably, in whlch case the value Is derived from the cost to the donor
or the es￿rnated resale value. Dorh2ted faolities and *rI1￿ are recognlsed in the accounts
when recdved If the value can be reliably measur&l. No amounts a￿ IndUd￿ for the
contrlbutlon of general volunteers.
Income from contracts for trÉ supth of ser4lces Is recognlsed wlth the dellvery of the
contracted serv1￿. Thls Is classlfled as unrestrlLted funds unless there Is a contrattual
requirement to be spent on a partlcular purp)se and retumed If urspen¢ In whlch ca
It may be regarded as restrlcted.
Resources expended
Expendlture Is recognised on an accruals basis as a Ilablllty Is Incurred. Expendlture Includes any
VAT whlch cannot te fully recovered, and Is dassified under headlngs of statement of finandal
actlvltles to whlth It relates:
eXpendItu￿ on ralslThJ funds Indudes the costs of all fundralsSng actlvltles, events, non-
charltable trddlng acuvldes, and the sale of (k)nated goc
expendlture on charltabte acuvltles Indudes all costs incurred by a charfty In undertaking
actlvltles that further its charftable aims for the ba￿t of Its beneficlarles, Includlng those
support costs and costs rdating to the governan￿ of the tharlty appO￿oned to charitable
activiUes.
other expendItU￿ Indudes all experK1itU￿ that Is nelthw rdatal to ralslng funds for the
charlty nor part of Its expenditure on charitsbk activities.
All costs are allcTrted to exFendlture categories reflectlng the U￿ of the resource. Dlrect costs
attrlI￿taNe to a single aC￿￿ty are allocated directly to that actfvlty. Shared costs are apportioned
between the act￿t￿S they contribute to on a reasonable, justifiable arKI consistent basis.
16

THE PERCY BILTON CHARrrY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL sfATEMENTS (contlnuedj
YEAR ENDED 31 MARCH 2024
Accounttng policies (¢ontlnued)
Tangible assets
Tangible assets are initially recorded at cos¢ and subsequentty stated at cost less any accumulated
depreciation and Impairment los*s. Ary tanglble assets carried at revalued amounts are recorded
at the fair value at the date of revaluation less any subsequent accumulated deprÈriation and
subsequent accumulated Impairment losses.
Depreclation
Detxeciatlon Is calculated so as to write off the cost or valuation of an asset, less its resldual value,
over the u*ful economlc Ilfe of that as*t as follows:
Equipment
20 % stralght line
Freehdd land Is not deprecrated. The trustees consid¥ that the disposal value of the freehold
property is in excess of the deemed cost stated in the financial stateM￿ts and th￿efOre any
depreaation charge on the building would be Immaterial.
Investments
Llsted Investments a￿ rneasu￿ at fair value with changes in falr value being recogni*l In Income
and expendlture.
Impairment of fixed assets
A review for Indicators of impairment is carrled out at each ￿pOrtIng date, wlth trE recoverable
amount being estimated where such indicators exlst. Where the carrylng value exceeds the
recoverable amount, the asset is impaired accordingly. Prior Impalmients are also reviewed for
possItAe reversal at each reportirvJ date.
Flnanclal Instruments
A flnanaal as*t or a financlal Ilablllty Is recognlsed only when the ￿tity become5 a party to the
contractual provisions of the Instrument.
Ba￿C financial instruments are Initially recogni*d at the amount re￿1vable or payable indudlng
any related transaction costs, unless the arrangement cor6tltutes a financlng transaction, whe
it is recognised at the present value of the future payments discounted at a market rate of interest
for a slmllar debt instrument.
Current assets and current Ilablllties are subsequently measured at the cath or other cor61deratlon
expected to be pald or received and not dlscountgj.
Where Investments in shares or preferen￿ Sha￿ a￿ publicly traded or thelr falr value can
otheNi* be measured reliably, the investment is subsequently measured at fair value wlth
thanges in falr value recognised In Income and expenditure. All other such investments are
subsequently measured at cost less impairment.
17

THE PERCY BILTON CHARTrY
COMPANY LIMrrED BY GUARAKfEE
NOTES TO THE FINANCIAL STATEMENTS {¢ontinu
YEAR ENDED 31 MARCH 2024
Accounting ￿1cleS (Conth￿)
Defined contribution plans
Contributions to defined contrilxrtion plans are rec(￿nISed as an expense In the pemd in which
the relat&J sep41￿ is provided. Prepaid contributions are rec(wlsed as an asset to the extent that
the prepayrn￿t will lead to a reduction in fLrtU￿ payrn￿ts ￿ a cash refund.
Limited by guarantee
The company is limited by guarant* The liatMIty of members is limited by the companvs
Memorandum of Asso(iation to a not exc&thng £10 memLEr.
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Grants retumed
2,250
2,250
3,508
3,508
Investmnt income
Unrestricted Total Funds Unrestritted Total Funds
Funds
2024
Funds
2023
IrKome from listed invesknents
Bank interest re￿1vable
844,147
141
844,147
141
904,905
904,905
84,288
844,288
904,905
904,905
Investment Manag￿￿ent costs
EndOw￿t Total Funds Endowment Totsl Funds
Funds
2024
Funds
2023
Investment ManageM￿t fees
53.443
53.443
51,602
51,601
8. Expendlture on charltable acbvibes by fund type
Unrestrlcted Totsl Funds Unrestricted Total Funds
FurKJs
2024
Funds
2023
Grants payab
Support costs
911.452
120,814
1,032,266
911,452
120,814
844,723
122,475
967,198
844,723
122,476
967,199
1,032,266
18

THE PERCY BILTON CHARrrY
COMPANY UMrrED BY GUARANTEE
NOTES TO THE FINANaAL STATEMEKfs
YEAR ENDED 31 MARCH 2024
9. Expendlture on charltable actlvltles by actlvlty type
Grant
fun(fing of
activrties Sljprnrt costs
Totsl funds
2024
Totsl fund
2023
Grants payable
Grant SUPFx)rt costs
GOVWnan￿ costs
911.452
911.452
101.112
19,702
1,032.266
844.723
96.437
26.039
101.112
19,702
120,814
911,452
967,199
10. Analys1$ of Support cost•
Analysls of
support costs Totsl 2024 Total 2023
staff costs
Premlses
General offl
Flnance costs
79,546
16,569
4,996
19,703
79,546
16,569
4,996
19,703
76,427
14,452
5,558
26,039
120,814
120.814
122,476
11. Analysls of grants
2024
2023
Grants to Instltutlons
Grants to Instbtutions
483,108
426,266
Grants to Ondlvlduals
Grants to Indfvlduals
428,344
911,452
418,457
844,723
Totsl grants
12. Nrt galnsl(losses) on Investn*nts
Errflowment Total Funds Endowmert Total Funds
Funds
2024
Fund5
2023
Galnsl(losses) on listed investM￿ts
2,106,082
2,106,082 (2,308,974) (2.308,974)
13. Audltors remuneratoon
2024
2023
Fees payable for the audtt of the finar￿la1 ststemerts
8,000
7,200
19

THE PERCY BILTON CHARrrY
COMPANY UMITED BY GUARANTEE
140TES TO THE FINANaAL sfATEMENTS (¢vnttsx￿j
YEAR ENDED 31 MARCH 2024
14. Staff costs
The total staff costs and emth benefits fcy the repiting Ftsiod are analysed as fdlows..
2024
2023
Wages and salaries
Sc(ial secunty costs
Employer contributions to plans
71.866
2,081
5,600
69.061
2,008
5.357
79,547
76,426
average head count of empbyees duriTrJ the year was 2 (2023". 2).
No emrloyee received an￿Oyee benefits of more than £60,OIY) durirMJ ttE year (2023: Nil).
15. Trustee remuneration and expenses
No remuneraUon ￿ other b￿ts from ern￿n￿nt with the charity or a related entity were
recaved by the trustees In ather the current or previous year.
16. Tangible fixed assets
Freehold
t￿lIdIngS Equipment
Total
Cost
At l April 2023 and 31 Marth 2024
Depreciation
At l April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
440,000
14,515
454,515
14,286
14.286
440.000
229
440,229
440,229
At 31 March 2023
440,0
229
17. Investments
sted
Investments
Cost or valuation
At l April 2023
Additions
Disposa15
Fair value movements
29,583,756
6.062,392
(6,194,749)
2,106,082
31,557,481
At 31 March 2024
Carrying amount
At 31 March 2024
31.557,481
At 31 March 2023
29,583,756
20

THE PERCY BILTON CHARrrY
COMPANY UMrrED BY GUARANTEE
NOTES TO THE FINANaAL sfATEMENfs (cortIn￿)
YEAR ENDED 31 MARCH 2024
17. Investments (cont￿)
All investments str￿n above are IEld at valuab'on.
Flnandal assets held at falr value
At 31 March 2024 the portfollo of Investments was invested as to 15.5% in fixed inter* 72.3%
In equities, 3.1% In wopty, 7% Sn altematlve InVeStm￿t and 2.1% In (zsh.
The historlcal (Dst of the Brthvln Dolphln p)rtfollo f￿ed Int￿eSt S￿rItIeS and equltle5 at 31 March
2024 was £19,436,336 (2023: £19,253,947).
hlstorlcal cost of the Sarasln & Partners ￿￿0110 fixed Interest seoJrltles and equltles at 31
March 2023 was £10,036,917 (2023: £10.011,054).
lnVestrn￿ts are stated at quoted market wlce5.
18. Debtors
2024
2023
p￿yrnents arKI accrued Income
611
611
19. Credltors: amounts falllng due wlthln one year
2024
2023
Trade creditors
Accruals and deferred Income
Other credltors
6.642
29,924
2,387
38,953
12,065
29,728
1,117
42,910
20. Penslons and other post retlrement benefits
Defined contrlbutlon plans
The amount rec<Jgnlsed In Income or exp￿ltU￿ as an eXp￿se In rela￿On to defined contribution
plans was £5,600 (2023: £5,357).
21

THE PERCY BILTON CHARrrY
COMPANY UMXTED BY GUARAi¥fEE
NOTES TO THE FXNANCIAL STATEMEfiTS (￿Ne￿N￿d)
YEAR ENDED 31 MARCH 2024
21. Anatysis of charitable funds
Unrestricted funds
Gains and
losses 31 Mar 2024
l Apr 2023
Income Expenditure Trar
General funds
Deslgnated
speclal reserve
fund
1,790,703
846,538 (1,032,266)
34,464
1,639,439
235,004
(34,464)
200,540
1,839,979
2,025,707
846,538 (1,032,266)
At
l Apr 2022
Galns and
losses 31 Mar 2023
IrKome EXp￿(Nture Transfers
General funds
Deslgnated
special reserve
fund
1,845,217
908,413 (967,198)
4,271
1,790,703
239,275
2,084,492
(4,271)
235,004
2,025,707
908,413 (%7,198)
Endowment funds
At
l Apr 2023
Galns and
losses 31 Mar 2024
Income Expendlture Transfexs
Expendable
28,378,859
(53,443)
2,106,082 30,431,498
At
l Apr 2022
Galns and
losses 31 Mar 2023
Income E￿ndItu￿ Transfers
Expendable
30,739,435
(51,602)
(2,308,974) 28,378,859

THE PERCY BILTON CHARrrY
COMPANY LIMrrED BY GUARANTEE
NOTES TO THE FINANCIAL sfATEMEKfs fcontlnued)
YEAR ENDED 31 MARCH 2024
22. Analysis of net assets between funds
Unrestricted Endowment Total Fund5
Funds
Funds
2024
Tanglble fixed assets
Investments
Current assets
Crejjltors less than l year
Net assets
440,229
+10,229
1,107,155 30,450,326 31,557,481
312,719
312,719
(20,124)
(18,828)
(38,952)
1,839,979 30,431,498 32,271,477
Unrestrlcted Endowment Total Funds
Funds
Funds
2023
Tanglble flxed a55ets
Investments
Current assets
Credttors less than l year
Net assets
440,229
440,229
1,186,265 28,397,491 29,583,756
423,491
423,491
(24,278)
(18,632)
(42,910)
2,025,707 28,378,859 30,404,566
Unrestricted funds are funds whlch the company can use In accordan￿ wlth Its charltable
objectlves and restrfcted funds are those whlch must be used In accordan￿ wlth the donor's
Inkntlons.
The deslgnatej speclal reseNe fund contalns grants whlch have been condltlonally approved for
payment by the Board of Dlrectors at the Balan￿ Sheet date, but vthlch had not been finally
apwoved or pald by 31 March 2024.
Endowment funds represent an expendable endowment, the Income from whlch can be used In
accordan￿ wlth the companvs charltable objects. At the formatlon of the Percrf Bilton Company
Umlted then known as the Percy Bllton Charlty, Mr Percy Bllton, the founder, endowed It wlth a
parcel of shares In a property company that he also founded. These shares were sold In 1998 aThY,
In accordance wlth the founder's wishes, were held as an expendable endowment In the form of
Investments. These amounts have b*n held as an expendable endowment by the company sln
they y￿re trarsferred on 4 Aprll 2003.
23. Aftalysls of changes In net debt
At
At l Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
422,880
(110,771)
312,109
24. Related partles
During the year a grant of £4,954 was pald to another charlty whtch has a common trustee.