THE ESTELLE TRUST istered Chari N. 1101299 FINANCIAL STATEMENTS for the year ended - 31 March 2025 FISHER PHILLIPS LLP Chartered Accountants Summit House 170 Finchley Road London NW3 6BP
The Estelle Trust Legal And Administrative Information For The Year Ended 31 March 2025 The trustees N A E Farrow G R Ornslein D Wise R Lynch K M Farrow S Davies l Abed WHam P Atkinson Resigned on 12 February 2025 Appointed on 12 March 2025 Prlnclpal place of bu$lne$s Claret Hall Ovinglon Road Ashen Sudbury C010 8LF Ac¢ountantS Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP Bankers EFG Private Bank Limited 12 Hay Hill London W1J6DW Sollcltors Wilsons Sleynings House Fisherton Street Salisbury, Willshire SP2 7RJ
The Estelle Trust For The Year Ended 31 March 2025 Contents Pages Trustees, Report 14 Independent Examiner's Report Slatemenl of financial activities Balance sheet Statement of cash flows Notes to the accounts 9-15
The Estelle Trust Charity Number: 1101299 Trustees Report For The Year Ended 31 March 2025 The Iruslees present Iheir report together with the financial statements of the trust for the year ended 31 March 2025. The trustees have adopted the provisions of the Stalemenl of Recommended Praclice (SORP) 'Accounting and Reporting by Charities" (FRS 102) in preparing the annu81 report and financial statements of the Charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charilies Acl 2011 and Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Legal and administrative infonnation The trustees N A E Farrow (Chief Executive Officer) G R Ornstein D Wise R Lynch K M Farrow S Davies l Abed W Ham - Resigned on 12 February 2025 P Atkinson- Appointed on 12 March 2025 Principal place of business Claret Hall Ovington Road Ashen Sudbury C010 8LF Accountants Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP Bankers EFG Private Bank Limited 12 Hay Hill London W1J 6DW SolicStors Wilsons Sleynings House Fisherton Street Salisbury, Willshire SP2 7RJ Trustees The Iruslees named above have Seed as detailed. Appoinlment of trustees is governed by the trust deed. The Board of Trustees is authorised to appoint new trustees lo fill vacancies arising Ihrough resignation or death of an existing trustee. The trusts limited scale of operations means that there is no formal organisalional structure. Training is and will continue lo be provided as and when trustees are inducted. Page I
The Estelle Trust Charity Number: 1101299 Trustees Report (continued) For The Year Ended 31 March 2025 Investment Powers The Irust deed aulhorises Ihe truslees to make and hold investments using the general funds of the trust. Constitutlon, objects and policies The trust was consliluled as a charitable trust on 26th November 2003 by way of a charitable trust deed. The objects of the trust are to promole any lawful charitable purpose at the discretion of the trustees. The trustees must use the income and may use the capital of the trust in promoting the objects. Objects and activities Following ihe end of the Estelle Trust's 15 years of direct funding and managing of community schools, projects in Zambia via ils local charity, the Bana Tandizo Foundation, 2024 was the first year of the ownership and management of the Chishawasha Children's Home and School by the Zambia Fransalian Sociely. During the period of this report, two of the Eslelle Trust's legacy projects for Chishawasha were completed.. the Bana Tandizo School Hall and the Art and Design Lab. The school is thriving with increased numbers of students. The Estelle Trust is now in Ihe second year of a five-year commitment to financially support the education of 25 orphans and vulnerable children al the school. As recorded in the 2023-2024 Trustees, Report, the Estelle Trust has broadened its programme of partnerships with public arts and education institutions lo assist in Ihe development and implemenlalion of their publishing, exhibition, and research programmes. This conlribulion helps to offset the specific loss of income during and since the Covid pandemic and the general and substantial reduction in the national and local government funding of museums, galleries and institutions of research and education. To implement its support of the exhibition and publishing programmes of museums and galleries. the Estelle Trust has made a three-year 2025-2027 substantial funding commitment lo the Lund Humphries Foundation for the Visual Arts, a charitable incorporated organisation (CIO) that was created al the start of 2025. National and regional museums and galleiies that have benefitled from such support in 2024-2025 include the Hepworth Wakefield. The Estelle Trusl also makes donations lo institutions of higher education in particular helping lo fund research and publishing projects in the humanities. During 2024-25, work has continued on the research required to produce an up-to-dale catalogue of the illuminated manuscripts and early modern books held al the Library of Queens, College Cambridge. The catalogue and a history of the library - the oldest in the Universily will be published in 2026. Rlsk Management The trustees are satisfied that the trust does nol face any significant risks apart from the risks usually associated with investment. To mitigate this risk the trustees regularly review investment portfolio performance and ensure that the investment portfolio is well diversified. Future developments The trustees will select suitable charities to which donations will be made. Reserves policy 11 is the policy of the Iruslees lo build up and mainlain unreslricled reseNes to a level which will allow the trust to meet ils objects and cover all expenditure, including managemenl and administration costs, out of the income generaled by investments. whilst at the same lime maintaining the value of the investments at the level when the trust was created, allowing for relail price index increases. Page 2
The Estelle Trust Charity Number: 1101299 Trustees Report (continued) For The Year Ended 31 March 2025 Flnancial revlew The trustees are satisfied with Ihe financial performance of the trust in Ihis year. The trust made donations of £68,000 {2024: £49,586> in Ihe year and the nel surplus for the year before other recognised gains and losses of £5,289 (2024.. £15,649) is in line with the expectations of the trustees. The net increase in funds for the year was £41,717 (2024.. £48,157) afler gains on investments of £36,428 (2024.. £32,508). Al the year end, the trust had net assets of £1,977,525 (2024.. £1,935.808}. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future aclivities. The trustees believe the objects and activities detailed above have furthered the trust's purposes for the public benefit. Statement of trustees. responsibilities The trustees are responsible for preparing the Trustees. Annual Report and financial slatements in accordance wilh the applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the trust's financial activities during the period and of its financial position al the end of the period. In preparing those financial statements, the trustees are required lo.. (a} select suitable accounting policies and apply them consislenlly; (b) observe the methods and principles of the Charities SORP (FRS 102)., (b) make judgments and eslimales that are reasonable and prudent., (c) slate whelher applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements., (dl prepare the financial statements on 8 going concern basis unless il is in8ppropriale to presume that the Irust will continue in operation. The Iruslees are responsible for keeping accounting records which disclose with reasonable accuracy al any lime the financial position of the Irusl and enable Ihem to ensure that the financial statements comply with the Charilies Act 2011, the Charity (Accounts and Reports} regulations and the provisions of Ihe Irusl deed. They are also responsible for safeguarding the assels of Ihe trust and hence for laking reasonable steps for the prevention and detection of fr8ud and other irregularilies. Page 3
The Estelle Trust Charity Number: 1101299 Trustees Report (continued) For The Year Ended 31 March 2025 Approval This report was approved by the trustees on 15 January 2026 and signed on their behalf. N A E Farrow Trustee G R Ornstein Trustee D Wise Trustee R Lynch Trustee K M Farrow Trustee S Davies Trustee l Abed Trustee P Atkinson Trustee Page 4
The Estelle Trust Independent Examiner's Report To The Trustees Of The Estelle Trust For the year ended 31 March 2025 The trustees present their report together with the financi81 statements of the trust for the year ended 31 March 2025. The financial slalements have been prepared in accordance with the accounting policies sel out on page 6 and comply with the trust deed and applicable law. Respective responslbllltles of trustees and examlner The trustees of the trust are responsible for the preparation of the accounts. The trustees consider that an audit Is not requlred this year under section 144121 of the Charities Act 2011 (the 2011 Acll and that an independent examinatlon is needed. Having satisfied myself that the trust is not subject lo audit and is eligible for independent examination, il is my responsibility lo: examine the accounts under section 145 of the 2011 Acl-, follow the procedures laid down in the General Directions given by the Charity Commission under section 145{Sllbl of the 2011 Act., and slate whether particular mallers have come lo my attention. Basls of Independent examlnerfs report My examination was ¢arried out in accordance with the General Dlreclions given by the Charity Commission. An examination includes a review of the accounting records kept by the trust and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trLtslees Conrning any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently, no opinion is given as lo whether the accounts present a 'true and fair vievl, and the report is limited lo those matters sel out in the slalement below. Independent Examlner's Statement In connection with my examination, no maller has come lo my allenlion: which gives me reasonable cause lo believe that in any material respect the requirements: lo keep accounting records in accordan with section 130 of Itie 2011 Act- and to prepare accounts which accord with the accounting records and Comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been mel., or 21 to which, In my oplnion, attention should be drawn in order lo enable a proper understanding of the accounts to be reached. C Harvey FCCA, CTA Fisher Phillips LLP Chartered Accountants Summit House 170 Finchley Road London NW3 6BP Dale.. 15 January 2026 Page 5
The Estelle Trust Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2025 2025 Total 2024 Total Unrestrlcted Restricted Note Income from: Donations and legacies Investment income 50 92.488 50 92,488 578 81,405 Total Income 92,538 81,983 Expendlture on.. Raising funds Charitable activities: Charitable donations Admin ¢osls Salary ¢o$l$ Other 18.117 18,117 16.122 68.000 1.132 68,000 1,132 49.598 614 Total expendlture 87,249 87,249 66,334 Net income l (expenditure) before net galn$ I (losses) on Investments 6,289 6,289 15,649 Nel gains I (losses) on investments 36,428 36,428 32,508 Net income l (expenditure) for the year 41,717 41,717 48,157 Transfers between funds Net Income l (expendlture) before other recognlsed galns and losses 41,717 41,717 48.157 Other gains l {lossesl Net movement in funds 41,717 41,717 48.157 Re¢onclllatlon of funds: Total funds brought forward 1.935.808 1,935,808 1.887.651 Total funds Carrled forward 11 1,977,625 1,977,525 1.935.808 Al of the above iesulls are derfved from conlinuing aclivilies. There were no other recognlsed galns or losses other than those slated above. The attached notes fom part of these financial slalements. Page 6
The Estelle Trust Balance sheet As at 31 March 2025 2025 2025 2024 2024 Note Flxed assets: Inveslmenls 1,818,446 1.818,446 1,782,495 1,782,495 Current assets: Debtor$ Cash al bank and in hand 11,616 147,463 159,079 12,548 140,765 153,313 14 Liabilities: Creditors- amounts falling due within one year 10 Net current assets l {Ilabllltlesl 159,079 153.313 Total net assets l {Ilabllltlesl 1,977,525 1,935,808 Funds Restricted funds Unrestricted funds- Revaluation reserve General funds Total unreslricled fund5 12 11 1,977,525 1.935,808 1,977,525 1,935,808 Total funds 1,977,525 1,935,808 Approved by the trustees on 15 January 2026 and signed on their behalf by.. G Ornsteln Treasurer N Farrow Chalrperson Charity number: 1101299 The allached notes form part of the financial statement5. Page 7
The Estelle Trust Statement of cash flows For the year ended 31 March 2025 Note 2025 2025 2024 2024 Net ¢ash provlded by l (used Inl operatlng activities 13 186,267) {76.270) Cash flows from Investing activltle$: Inlere$UrenVdividends from investments Proceeds from sale of fixed assets Purchase of fixed assets Proceeds from sale of inveslmenls Purchase of investments 92,488 81.405 1,064.454 {1,063.9771 1,160.720 11.225,2101 Cash provlded by I (used In} Inve$tlng actlvlties 92,965 16,915 Change in cash and ¢ash equlvalents in the year 6,698 159,355} Cash and cash equivalenl$ at the beginning of the year 140,765 200,120 Cash and cash equlvalents at the end of the year 14 147,463 140.765 Page 8
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 1 Accountlng policies a) 8a$i$ of preparation The financial statements have been prepared in a¢¢ordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102} issued in October 2019. Ihe Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}, the Charities Act 2011. and UK Generally Accepted Accounting Practi. The trust meets the definition of a public benefit enlity under FRS 102. Assets and liabilities are initially recognised al histori081 cost or transaction vallse unless olherwise slated in the relevant accounting policy or note. bl General informatlon The Charity is a charitable trust, incorporated in England and Wales I charity number.. 1101299}. The trust's registered offi address is.. Claret Hall, Ovinglon Road, Ashen. Sudbury, C010 8LF. cl Golng concern The trustees consider that there are no material uncertainties about the Ir(Jst's ability to continue as a going concern. The trLsslees do not consider that there are any sources of estimation unrtaintY at the reporting dale that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wilhin the next reporting period. d) Income Income is recognised when the trust has enlillement to the funds. any performan ¢onditions allached lo the income have been mel, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capilal' grants or 'revenue' grants, is recognised when the Irust has enlillement to the funds, any performance conditions attached lo the grants have been met, il is probable that the income will be reiVed and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. For legacies, entitlement is taken as the earlier of the dale on which either.. the trust is aware that probate has been granted, the eslale has been finalised and notification has been made by the execulorlsl to the trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the trust has been notified of the executor's intention to make a distribution. Where legacies have been notified lo the trust, or the trust is aware of the granting of probale, and the criteria for income recognition have not been mel, then the legacy is a treated as a contingent asset and disclosed if material. e) Donatlons of glfts, services and facllltles Donated professional services and donated facilities are recognised as income when the trust has control over the item or reiVed the seTvice, any conditions associated with the donation have been mel, Ihe reIpl of economic benefit from the use by the trust of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP {FRS 1021, volunteer time is not recognised so refer to the trustees, annual report for more information about their Conlribulion. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of Ihe value of the gift lo the trust which is the amount the charity would have been willing lo pay lo obtain services or facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expendilure in the period of receipt. D Interest recelvable Interest on funds held on deposit is in¢luded when reIV8b1e and the amount can be measured reliably by the trust., this is normally upon nolifi¢alion of the interest paid or payable by the bank. g) Fund accountlng Unrestricted funds are available to spend on activities that further any of the purposes of Irusl. Designated funds are unrestricted funds of the trust which the trustees have decided al their discretion lo set aside lo use for a specific purpose. Reslricled funds are donations which the donor has specified are lo be solely used for particular areas of the trust's work or for specific projects being undertaken by the trust. Page 9
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 1 Accounting policles Icont.) h) Expendlture and irrecoverable VAT Expenditure is recognised once there is a le9al or conslfuclive obligation to make a payment to a third party, it is probable that selllement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds comprise of trading costs and the costs incurred by the charitable trust in inducing third parties lo make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable a¢livities includes the costs of delivering servIs. exhibitions and other educational activities undertaken lo further the purposes of the charity and their associated support costs. other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost againsl the activity for which the expenditure was incurred. 11 Allocation of support costs Support costs are those functions that as51sI the work of the trust but do not direclly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the trusts programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The costs ass0¢ialed with the investments have been allocated to the cost of raising funds and the personnel costs have been allocated to expendilure on charitable activities as these are considered most appropriate by the trustees. l) Operating leases Rental Charges are charged on a straight line basis over the term of the lease. k) Llsted Investments Investments are a form of basic financial instrument and are initially recognised al their Iransaclion value and subsequently measured at their fair value as at the balance sheet dale using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. 11 Debtors Trade and other debtors are recognised al the selllemenl amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ml Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments wilh a short maturity of three months or less from the dale of acquisition or opening of the deposit or Similar account. n) Creditors and provlglons Creditors and provisions are recognised where the trust has a present obligation resulting from a past evenl that will probably sult in the transfer of funds to a Ihird party and the amount due lo settle the obligation Can be measured or estimated reliably. Creditors and provisions are normally recognised al their selllement amount after allowing for any trade discounts due. o} Financial Instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using Ihe effective inleresl method. Page 10
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 2 Detailed Comparatives for the statement of flnancial a¢tivltleg 2024 Unreslricled 2024 Restricted 2024 Total Income from.. Donations and legacies Investment income 578 81.405 578 81,405 Total Income 81,983 81,983 Expendlture on: Raising fL5nds Charitable activities.. Charilable donations Admin costs Salary costs 16,122 16,122 49,598 614 49.698 614 Total expendlture 66,334 66,334 Net Income l expendlture before galns I Ilossesl on Investments 15,649 15,649 Net gains I (losses) on investments 32.508 32,608 Net Income l expendlture 48.157 48,157 Transfers between funds Net income l {expenditurel before other recognlsed gains and losses 48,157 48,157 Other gains I Ilosses) Net movement in funds 48,157 48,157 Total funds brought forward 1.887,651 1,887,651 Total funds carried forward 1,935,808 1,935,808 3 Income from donations and legacleg 2025 Total 2024 Total Unreslricted Restricted Gifts & donations Legacies 50 60 578 50 50 578 4 Income from inve$tments 2026 Total 2024 Total Unrestricted Restricted Interest Dividends from listed investments Dividends from unlisted investments 30,360 62,128 30,360 62,128 30,577 50.828 92,488 92.488 81,405 Page11
The Estelle Trust Notss to the financial ststements For the year Qnded 31 March 202S S Analys18 of expondltslla Ch8rilaiAe 8clDihies Ccsl of ralsing funds Charitable donallons Admin cos15 Support Governance costs costs Salary cosls 2026 Totsl 2024 Toiol Inv8s1m8nt managemonl fees siréetscapes Welltrsley ColEege Queens Collage Developmènt Fund The Bridge Foundalion MedeGins Sans Fronlieres The Hepworth Wakefiekl Chesham Muslcal The81re Company Maggie Ke$wk Jencks Zambi8 FiansÈlian Society The Urology Foundallon Shemer Chelsea & Weslminsler Chaiity P8ule Vezday Samarilans Crisls The Gafden Museum 81ion81 Galleries S¢olland WaNer Lees Foundgtion Hosyce UK Htrlen Clapcott 8ri11ianl Destiny Pallant House Gallery 3 Pèaks DEC- Ukralne Appeal DEC- Turkish I Syrian Earthquake Rudolph Ihl88 Subsidy Hi51oriG Buildlngs & Monumenl Gommlssion Bank chafg8s and intere51 Exchange gÈlnl Ilossl Travel and subsislence Consumancy feès Legal & profèssbnal fee5 Just giving lees Squaresp4ce Website cos15 Sa18ry cosls 18.117 18,117 6,000 3,000 35.000 16,122 5.000 3.000 35.000 4,000 500 4.000 600 5,000 16,500 1,000 3.000 16.500 1,000 3,000 s.000 6.000 2.000 2,500 2,500 5,000 3,663 5,000 2,000 10.000 935 178 230 178 230 164 217 500 500 224 224 233 18,117 68,QOO 1,132 67,249 66.334 Support cosls Governance cos1$ Totsl expendlture 2026 18.117 68,000 1,132 87,249 66,334 Tolol Èxp&ndilure 2024 16,122 49.598 614 66,334 Of Ihtr total expendrfure. £87.249 was uDr£$lricled12024.. £66.3341 and £Nil was re51ricted 12024.. EN1. Page 12
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 Analysis of staff costs, trustee r9muneratlon and expenses. and the coyt of key management personngl Staff costs were as follows.. 2025 2024 Salaries and wages Soclal security costs The following number of employees received employee benefits lexcluding employer pension) during the year between.. 2025 No. 2024 No. £60,000 - £69,999 £70,000 - £79,999 £80,000 - £89,999 £90,000- £99,999 The lolal employee benefits including pension contributions of the key management personnel wore £Nil 12024.. £Nill. The trustees of the trust were not paid nor received any other benefits from employment with the trust in the year12024.. £Nill neither were they relmbursed expenses during the year {2024.. £NIII. Taxatlon The charitable trust is exempl from corporation lax as all ils income is charitable and is applied for charitable purposes. Investments 2025 2024 Investments at falr value: Listed investments Unlisted investments 1,818,446 1,782,495 1.818.446 1.782,495 Movements on Listed Investments Market value at the start of the year Additions al cost Disposals al carrying value Gains I (Losses) on investment Market value al the end of the year 1.782,495 1,685,497 1,063,977 1,225,210 (1,064,454) {1.160.720) 36,428 32,508 1,818.446 1,782,495 D&btors 2025 2024 Accrued interest Other debtors - Scolar Fine Art Limlled Prepayment 1,013 10,603 1,721 10,827 11,616 12,548 10 Credltors.. amounts falllng due wlthln one year 2025 2024 Taxation and social security Other credilots - Scolar Fine Art Limited Page 13
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 11 Analysls of net assets between funds General unrestricted Designated Total funds Restricted Investments Nel current assets 1,818,446 159,079 1.818,446 159,079 Net assets at the end of the year 1,977,525 1,977,625 12 Movements In funds Incoming Outgoing resources & resources & gains losses Transfer between funds Al the start of the year Nel investment gains I Ilossesl At the end of the year Restrlcted funds.. Total restricted funds Unrestrlcted funds: Designated funds- Total designated funds General funds 1,935,808 92,538 187,249) 36,428 1,977,525 Total unrestrlcled fundy 1,935,808 92.S38 87,249 36,428 1,977,525 Penslon fund Totsl funds Includlng penslon fund 1.935.808 87,249 36.428 1,977,525 Page 14
The Estelle Trust Notes to the financial statements For the year ended 31 March 2025 13 Reconciliation of net Income Ilgxpenditurel to ngt Cash flow from operatlng activities 2025 2024 Net income I lexpenditurel for the rpportlng period las per the ststement of financial actlvities) Depreciation Interest and dividends from investments (Gains) I losses on investments Loss I Iprofitl on the sale of fixed assets (Increase) I decrease in stock Ilncrease) I decrease in debtors Increase I Idecreasel in creditors 41,717 48,157 (92,488) 136,428) {81,4051 132,5081 932 110,5141 Net cash provided by l {used inl operating activities 86,267 76,270 14 Analysis ofcash and cash equivalents At 01 April 2024 Other At 31 March changes 2025 Cash flows Cash at bank and in hand 140.765 6.698 147,463 Total cash and cash equivalgnts 140.765 6,698 147,463 15 Legal status of the charity The charity was conslituled a5 a charitable trust on 26th November 2003 by way of a charitable trust deed. 16 Relatgd party transactions Al the year end the trust is owed £10.603 {2024'. £10,827) by Scolar Fine Art Limited, a company under the control of N Farrow, in respect of payments made by the trust on behalf of the company. Page 15