THE PAMELA MATTHEWS CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 REGISTERED CHARrrf No. 1117094 THE PAMELA MATTHEWS CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBÉR 2022 CONTENTS Page REPORT OF THE TRUSTEES 14 REPORT OF THE INOEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANc￿L STATEMENTS 8-12 2021 STATEMENT OF FI￿NcIAL ACTlVtTIES 13 THE PAMELA MATTHEVIS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees ale plèased to FY8SSnt their annual Iw5te85' ryrt together *Yth the finanud staleff*nts of Ihe charity for the yearended 31 D￿rnber2022. Reference and Admlnistrabon Detslls Full name.. T￿ Pamela Matthekn3 Charitable Twst Registered Chanty nurtEr'. 1117(fJ4 Prinupal athjress & Solicit￿$.. BDB Pitrnans LLP One 8arfhobmewC105e London EC1A 7BL Tr(Btees". lan HammorKI Mccunc Penek)pe Jane Chapman Ifelired 15 Novemter 20231 Eloabelh Ann Neak lappomted 15 Noveffthr 20231 Independent ExamirEr. Sally Knvaht FCA 1 Cooper5 Me￿* Beckenham BR3 1AJ Investment thisers.. Investe¢ 2 Gresham Str8el London EC2V 7QN $truc¢ur*, Gov$rnan¢e and Managomsnt The Charity was created on the death ol ParT*k MaitlEw5 on 13 OctLthr 2C¥J6 and has Lwn registered wlh the Charity Commission under numtEr 1117094. Appolntm8nt of Twst868 A Trustee or Trustees may ￿ appoin18d or discharg&1 at any b.me by resdution of a meeting of the Trustee5 provided that a memorarKILm such apwntsnent ￿ discharge is signed as a Deed, erther at the rneeting by the ￿[SO￿ pre&dir¥J or ￿ some other rnann8r dite(*ed by the rneeb"n9 a￿j affanged by Other persons present al meebrvj. Thete musl be M more than foul Trustees al any tme. lan Mcculloch 15 one of the or¥Jinal TtU5tees. Elizabeth Nea￿ 15 a s01iolor *ith e¥perien￿ and proftrssional knovAedge of being a charty trustee. She was sulta￿Y briefed about the Charty on t￿comIng a trustee P￿1 THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEMBER 2022 ObJg¢ts and ktlvit Tnjsl was esl8tAished by a deed dated 13 Otto￿r 2(￿ wth ￿r*r81 tharita￿e purposes. Its assats comprise the reS￿u8 of the estate ot Pamela Matthews d￿d on 5 08(xmber 2005,. they ¥%Ere transferred lo fv chaiity follrM?ng its fornathjn on 13 Oclober 2O)6. In accordance with Trust (*ed the Trustees hobj the iicome aTyJ Lxpital of the Trust Fund to appty Ihe income and all of such part or parts of the capilal in ￿c0[￿an￿ with the tharitable obFcts as Ihe Trustees tnay in their dEcreb"on think fft. The Trust W $tstes that the Trustees in ￿"r d$(xeb"on. inst￿ of apptyH)g the income of the Charity in any ￿ar. may attumulate all w any p￿1 of irM>yne. Any awmulthns may be applied in subsequent years as thiyjgh it was ts inc¢m of Ihat year. Grant Maklng Pollctes In general tefflis. the Trust aims to support the lollowTrJ Charitab￿ areas'.- lal LLKal Cavendi5hlSuffok cornmunty pfojeLts Ibl Animal care chantes 1¢) Armed forces chari Idl Medical ar￿ disabilrty ¢harrte$ lel Garden and environmentsl chari lfj Arts and Cuhure Igl Charities supporied by the late Pamela Maiihews during her lrfeb.me Where proposed ￿t1p￿￿ts are not regBlered chanties. Trustees undertake a Ihorough examination of Ihe organi5ation lo ensure the purpose of Ihe grant E property con5KJe￿￿ to be thantsble and that the a￿ tnean5 of ensuring. so far as rea50nabty wal*Cab￿. that any grant made shall i% propety applied to suth Charitab￿ purpose or repa￿ lo the Ttuslees. Rgport on PutAic Bengfit The Trustees have hthy ward to Charity C(xntnissffi's gUKyan￿ on rNJbl¢ be￿riL tharills aims a￿ ￿r-￿al￿1n9 and for ts pubk benefft. By making gonts in ac￿rIan￿ wilh this ¢haritys c&jects the Trustees are confident that tr*ir publ￿ benefit duty is fUffil￿d The Trustees also consk1er that there i8 no delrmnenl. harni ￿ more than in(th)lal private t*nefit artsirKJ from tsrrying out the charitV'8 aims. Fund Ralslng Pollcy The Charrtl5 incotne ￿ genwated from Ihe invesknents hekj. rt does urykrtake fundraising activities. hi8vem8nts and Porfom*n¢ 22 grants of £59,2￿ in total made ￿ CA)mmitted to ￿lstrt￿￿InS over the year 12021.. 24 granis tolalling £48,￿1. They were Pa￿ lo benef￿arleS who fall wthin ihe seven categories menboned above. The grants were pawj following the Truslee5' meebng5 hetrj in the year. There were two Tfustee5' rrieelings in 2022. Pa9e 2 THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ÈNDED 31 DECEMBER 2022 Flnanclal Rèvi The Trust's Fu￿$ hdd in investrnenis, freehokl propwties. thatiels and cash. The values of the properties and chatteLs in I￿Se a(r￿nts are the s&ne as the values used for probate purwses in Pamela matth￿￿, estate. Tf* propert￿ the subject of a rent Iree 15 year ￿se dated 25th November 2008 lo the Lan(knark Trust Investment income Wds £85.75512021". £78.769}. ott￿ incorr* £3%12021.. £1481 ChantsLle grants of £59.28￿j in total *re rnale CK cJ)mmitted i￿ring ihe >ear12021.. £48,000). Supwrt costs (administration and managen*AtI £25,724 12021. £23,￿01. Oiher e4Endrture Icharged to Trust Fund) I￿ude$ inveslment managE￿￿nt aryj safe IxJsl(Mly fees of£19.13612021.. £19.7641. Imv*stment Policy and Perfoimance The TrLLqI Deed gives the TrLtsl*S *ide of investrnent. The Trustees have &Jreed an investment policy, which has notified to the 8rpointed Investrn￿l advisors. Investe¢. The rx)li¢y of tr Trustees is lo ad)ieve a balarted p(thI￿ ol ￿CO[rE produong seoJrrtEs and ￿PItal gro%4rth whilst adopting a rnedium ￿ve1 of iisk. The perfotrnanix of the lunds is u)ntin¢Jally rnonitored by Investe¢ ar Investec's perfO￿anCe is rnonilored by the Tnjstees vho m*t vAlh the Investment mana9er al ￿8$t once a year. Invesfvnls are shown at market value ralher than tKK)k ujst Mi *x0rdan￿ wlh the accounting polioes in note 1. In the year to 31 t)￿rnber 2022, the tharity realised k)sses on h.sted investments of £11.381 12021". gains of ￿5.2431. Unrealised losses £414.03312021". gains of £308.2￿) Reserves Pollcy The Tiust885 have establisw a Reserves Pdiw wrth ￿feren￿ to Chanty C(mmis*on guidance ICC191 and accounting standards. Cash Ilow is 0￿fullY TnotutoEd to match in(x)ffle retripts with operab.ng expen￿rtU￿ Subject to this, the Tr￿tee5 aim to appty all inc￿ne to tharitab￿ purposes. As 8t 31 Decetnber 2022 there were reserves n the Unreslrided FU￿ of £28.53512021." £27,428). to be used for charitable purposes Èn futu￿, allh￿9h the Trustees can, al their discretK)n. instead of applying Ihe Income of the thanty in any yeai. al￿￿Ulate all or part of rt as if it ￿re an atAyelion lo capital. T Trustees are rev￿1ng the Reserves Policy in line vAth tr*ir intention to up the Trust over a defined Peri￿￿ of tsme (see Fulure Pbns sects(￿} Golng Concom Trustees have prepa￿ Ihe finar￿18[ Stat￿￿nIS ￿ a glyng con￿￿ basi5. However, LEfo rea¢hing their ￿e￿lOn to ¢Jo so, carefvl con￿derat4jn has trEen gNen lo the orooiro impact of wi economic faciors induding r￿Ing inflation and o)st of living. The main consdeption was the volablrty of the st£K* rnatket and its impliG3tions on both the Val￿ of the investment portfolio and the ￿Ve1 of arising Iherefrom as the c*arity ￿lieS (x) tK)th to pr{￿u¢e sufficient funds lo rt*el tts Ik?bilthes as arnl Ihey lall L1Le. Trustees are 5atlsfied Ihat rt is appropriate io wepalet￿ finanoal ststements ￿ a gtyng o)n¢em basis. Page 3 THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 Risk Uonagement The risks to %%*i¢h Ire Charity 6 exposed. as Klenbf*S by the Twstees. have tEen revievEd and systems and ￿¥(￿edU￿$ have been estsblished to mar¥age Ihose risks. In partKxJLir. as rnentyon￿ above. the Trustees do not enter into cl￿￿1trnenl5 in excess of their availab￿ G3sh resources and as a result they operate in a very risk enviroM￿nI. Any drop in Ints)ff￿ wll ￿ matth*J by an appropriate reduction in exper￿rtU Future Plans It is the intention of the Trustees to ￿tinUe to manage the InvestrT￿nt porffolio 50 as to produ￿ an investment inconk from Tr•thic* g¥anis to d￿l[lable organisat￿$ in &re the grant-making policy sel out on page 2 sin￿ the end of ts actountiro year covered by this Report aryj Acetyjnts, thè Ttustees have transferred to The LarKtmark Trust for no matenal conshjeration freehok1 properiies and the d)atleL8. The Trustees are now (x)ns￿erIng 8 staged distnbution wlnding up of Ihe Charrty over the next fewyear5. Re$pon$ibilil*$ of the Trustees Law applicab￿ to d)arities in EnglaNJ & Wa18S Wit8s the Tlljstees to prepare fin8rri81 stat￿nts for each financial year wthich give a tnje and faw view of Ihe charit1$ finanual adivities duriro the ￿ar and of fin8ncial w$ition al the end of the year. In prepafing finanoal ststements giving a true aThg fair v￿4, the Trustees Shou￿ followbesl wacbee and". 5818Ct surtable acmjnting polioes a￿J then apply them (￿￿91en￿y', - rnake judgenEnts and eslimates that are reasonable aThJ r￿Udent." stale vA*lher applicaNe accounti￿ 51aadard5 ar￿ stalen*nts of re￿rnrnended practKe have been follrh4Ed. subject to any departures dis¢losed aThJ explained In Ihe fin8rKial st8terrents. and.. prepa￿ the finanoal statements on the 90ing cwcem basis unkss it 15 inappropriate to presume that t￿ (*arity wll conb"nL* in o￿at￿n. The Trustees a￿ respongbè for k￿Nn9 accounbng records W)ich disck)se vthh ￿asonable accuracy If financial position of the d)arity and thich enab￿ them to ensure thal the finanoal statements ecrfn￿y wth applieable law and ￿gulatiOnS They a￿ also responsible for safeguarding the assets of the ctharity and hen for taking reasonable steps for the pre￿￿"On and thte¢tK*n of tr3ud and other IrregU￿ritieS. Approved by the Trustees and signed on their behalP lan McCulloch- Trustee Date.. THE PAMELA MATTHEWS ¢HARrrABLE TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES IN RESPECTOF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 I report io the trusiees ￿ my examinaiion ol ￿ ￿0￿niS of The Pamela mat￿ Charitaue Trust Cthe Trusfl lor the year ended 31 DeCem￿r 2022 vthith are set on pages 6 to 12. Re$ponslbilities and basis of report As the charity trustees of the Trust you are iesFX)nsIb￿ fot the yq)aration of th8 ¥counts in a(xx)rdan ith th8 requirements ofthe Charitss Act 2011 fthe 2011 Act'l. I report in ￿Spect of my 8xaminalion of the Trusf5 accounts G3rried oul under 5e¢tion 145 of ts 2011 Act and in carryiro out my examination I have fdl(Aw&Y all ts applic¥)k DirectH)ns given by the Charity Commission urKJef sectitsn 14515} Ibl of tIE 2011 Act Independent examiner's statement I hav8 cOmp￿ted my examinabon. I c￿firm ihat rKJ malerol matters have c￿e tr* my attentson in conrwtion wth the examina*"on gMr¥J cause to Ihat in any material resr*rt" accountirYJ r8cords were not kept in re5P8Ct ofth8 Trust as rery1￿ by sethon 130 ofthe Ad.. or the accounis do rot amyd with those rec￿d$.. or the accounts do rK)t cw wth tre 4pltsble requirements concernirvJ the lom and content of thè aeeounts s8t (xrt in ts Charities IAux)unts and Repc*tsl Regulations 2008 other than any requirement that the accounts give a Iruè aThY fai¢ view whid) is not a mattèr Cons￿&[ed as part of an independentexaminabon_ Use of my report This report is rnaije solety to Trustees, as a body, in accordance *ith Chaptèr 3 of Part 8 ofthè charib.es Act 2011. My examination has ￿en undertaken so that I [n￿ht State to the TtU5fs Trustee5 those tnatters which l am required to state to them In an IndepetKJent Exarninerfs RepxNt arKS for no other prup05e To the fullest extent permitted by Law, I do not accept or a5surne responsibility io any￿ other than ihe Trusl and Trust's Trustees as a Lyjdy. lor my examinab"on. for Ihis Re￿rt or forthe Cpinior￿ I have f(xrned. 3•tne whKth Ihe Trustees ar8 free to use in accordance wilh the charitabk objects. The Expendabk En￿o￿ne￿I Fund represents those capital a55els whKh are held for the bryer lemi for Trust. in ar£ordan￿ with the iemis of the Trust Deed. Inc(xpe arising on the Ewendable Endowment FUTh1 G8n k used in accor