REGISTERED CHARITY NUMBER: 1117369 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 FOR THE REVERE CHARITABLE TRUST
THE REVERE CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Paga Roport of tho Trust¢¢s Report of the Indepondent Audltors Stat•m•nt of Fln•nclal Actlvllles Balance Sheet Cash Flow Stat•m•nt Not•s to th• Flnan¢lal Statemonts 9 to 15
THE REVERE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their pOrt wrth the financial statements of the charity for the year ended 5 APRIL 2024. The trustees have adopted the provisions of Accounting and Reporting by Charibes.. Statement of Recommended Practice applicable to charities preparing their accounts in accnrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 January 20191. OBJECTIVES AND ACTIVITIES The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidan¢e on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year. The object of the charity is lo supwrt such charitable purposes as Ihe trustees in their ab501ute discretion from time lo time think fit. The charity is dependenl on the receipt of donations. subscriptions. covenants, sponsorships, legacies and other gifts. Grantmaklng The Iruslees make granl payments against specific Criteria set oul by the trustees in accordance with the chaflty's objectives. ACHIEVEMENT AND PERFORMANCE During the year, the charity had total incoming resources of £267,784 12023.. £303,925) and made grants of £5.200 12023.. £380,200) to 2 projects with donalions of £200 and £5,000. FINANCIAL REVIEW InVestnnt policy and obje¢tive$ Under the Trust Deed, the trustees have power to invesl trust moneys in the acquisition by purchases or otherwise or upon security of such property of whatever nature and wherever situated as the trustees shall in their absolute discrelion Ihink fit. Reserves policy The FX)li¢y of the trustees is lo maintain significant reserves lo provide the income and gains required to meet the trustees. proposed level of grant payments. In this connection the funds representing the reseeS are invested with a view to generating income and gains without exposing the charily lo undue flsk. FUTURE PLANS The trust's aims for 2024-2025 are to continue to make granls in pursuance of the charitsble objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Revere Charitable Trust is constituted by deed of trusl and is a registered charity, No. 1117369. Recruilment and appointment of new trustees The power of appointing a new trustee and of removing a Iruslee is vested in a majority, for the lime being, of the trustees. Recruitment is undertaken as necessary through the idenlrfication of skills gaps as trustee level. Induction and training of new Iwusteès There is a process of induction for new trustees which includes meetings with current trustees and the provision of key information. Page 1
THE REVERE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglslered Charlty number 1117369 Prfnclpal addrass Westbury Farmhouse. West End, Ashw811, Baldock Hertfordshire SG7 5PJ Truste•s R J Willmoll P Daniél C Cripwell Audltors Azets Audit Services Statutory Auditor 2nd Floor, Regis House 45 King William Street London EC4R 9AN Bankers Coulls & Co 440 Strand London SN11 OPZ Sollcltors Collyer Bristow LLP Sl Martin's Court. 10 Paternoster Row, City of London, London EC4M 7EJ Inv•$tm•nt Advl$or• Walker Crips Stockbrokers Old Change House 128 Queen Victoria Street London EC4V 48J St James's Place Wealth Management St James's Place House 1 Tetbury Road CirencÈster Gloucestershire GL71FP Page 2
T14E REVERE CIIfiRIT ABLE TRUST REPORT OF THE TRUSTEES F()R TIIE YEAR ENDED 5 APRIL 2024 ST ATEMENT OF TRUSTEES, RESPONSIBILITIES The Ill41& are re4pon%ible for preparing Ihe Reporl ol Ilie Triislees and the financial slalernenls In accordance wtr, IppIIc47hlc lam, and Ili)Ited Kinodom Acr.oiinling ,%lancJ8rd5 (Uniled Kingdom Generally Accepted Accounling Practice) '.ie 1311. applii2ble lo cliaiilies ¢n Er)gland and Wales. Ihe Charities Ad 2011, ChaTIty (Accounts and Reports) eaii12;:01% 2008 and Ihe provisions ol Ihe IriJ51 deed requires Ihe Iruslees lo prepare financial slalemenls lor each fr.nancièl year wthich give a Irije and lair view ol the stale ol affairs of Ihe charity and ol the Incoming fesource5 and applicaiion ol resources Indiidin9 11)e Incon)e and expenditure. ol the charity lor that period In preparing Ihose financial glatemenls. the Iruslees are required lo seieil siiilable accoiinling policies and then apply them cornsislenlly. te n)elhods and principles In Ihe Chanty SORP. lake iudoemenls an(5 eslimales Ihal a¥e fe3sonable and prudent., Siale M'helhei applicable accounting standards have been followed. 5ubjecl lo any material departures disclosed and eKDl8ined In Ihe financial slalemenls. prepare the finanaal slalemenls on Ihe going concern basis unless Il Is Inappropriale Io Presume that the charity will continue Iri business The Iruslees are responsible lor keeping proper ac£ounting records which disdose wilh reasonable accuracy al any time lle financial position ol Ihe charity 2nd lo enable Ihem lo ensure that Ihe financial slalemenls comply with the Charities Acl 2011. the Charity IAccounls and Reportsl Re9ulalions 2008 and the PTOVlSiOnS ol Ihe Irusl deed They Bre also responsible lor safeguarding the assets ol the chaiity and hence lor taking reasonable steps lor Ihe prevention and aele[lOn ol traud and other Irregulanlies Approved by order ol the board ol trustees on 6 March 2025 and signed on ils behalf by R J Willmott - Trustee
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE REVERE CHARITABLE TRUST Opinion We have audited the financial statements of The Revere Charitsble Trust Ilhe 'charity'l for the year ended S APRIL 2024 whith comprise the Slalement of Financial Activities, the Balance Sheet, the Cash Flow Stalem8nl and notes to the financ4al stslements, induding a summary of signrficant 8ccounling wlicies. The financ( reporting framework Ihat has been applied i n their preparation is 8ppli¢able law arKI United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as at 5 April 2024 and of its ine£Jming resources and appliCan of resources, for the year Ihen ended- have been property prepared in accordance wf(h United Kingdom Generally Accepted Accounting practs. and have bèen prepared in accordance with the requirements of Ihe Charities Act 2011. Basis for opinion We conducted our audit in aCrdan with Internatnal Standards on Auditing {UKI IISAS IUKII and applicable law. ¢)Jr responsibililies under those standards are further desuibed in the Auditors, responsibilities for the audit of the financial stslements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, induding the FRC'S Elhie21 Standard, and we have fijlfilled our other ethical responsibilities in accordance with Ihese requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinK)n. Conclusions relating to going concern In auditing the financial slalements, we have conduded that the Trustees use of the going concern basis of aC(X)Unti in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, indivKlually or collectively, may cast slgnrfftI doubl on the charity's ability to c¥)ntinue as a going concem for a period of at least 1ve months from when the financial stslemenls are autlK)rised for issue. Our responsibilitses and the resFx)nsibililies of the Trustees with respect to going concern are described in the relevant sections of this report. Other inforrnation The other information comprises the information induded in the annual reFrf)rt other than the financial ststemenls and our auditor's report therKJr). The Tnjslees are responsible for the other informalK)n cDntsined within the annual Teport. (ljr opinion on the financial stslements does not cover the other information and we do not express any form of assurance condusion thereon. Our responsibility is to read the other informalion and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a matefial misstatement in the financial ststements themselves. If, based on the wotk we have perft)rmed, we conclude that there is a material misststement of this other information. we are required to report that fact. We have rthing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the informatKin given in the Report of the Trustees is inconsistent in any material respect wilh the financ¢al slalements., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and returns; or we have not reiVed all the information and exptanations we reqLtire for our audit. Responslbilities of trustees As explain&J rnore lully in the Statement of Trustees. Respx)nsibilities, the truslees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees deterwnine is necessary to enable the preparation of financial statements that are free from malefk41 missialemenl, whether due lo fraLKI or error. In preparing the financial statements, the trustees are responsible for assessirMJ Ihe charity's ability to continue as a going cOnrn, disclosing, as applicable, matters related to going concern and using the going conrn basis of accL)untsng unless Ihe trustees either intend to IiquKlate the charity or lo cease operatn$. of have ro realistic altemative but lo do so. Our responsibilities for audit of the financial sLements We have been appointed as auditor5 under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulalions made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financlal ststements as a whole are free from malerial mlsstalemenl, whether due lo fraud or effor. and to issue a Report of the Independenl Auditors that includes our opini)n. Reasonable assurance is a high level of assuran, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise from Iraud or error and are considered material rf. irKlividually or in the aggregate, they could reasonably be expected to influence the eC0MI¢ decisions of users taken on the basis of these financial statements. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE REVERE CHARITABLE TRUST Our respon$ibilitigs for the audlt of the financlal statements Icontlnuedl A further description of our responsibilities for the audil of the financial statements is locat8J on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilitles. This description forms part of our Report of the Independent Auditors. Extent to which th8 audit was consldered capable of detectlng Irregularities. including fraud Irregularities, including fraud, are instances of n0n-c0mpliare with laws and regulalbons. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, lo dele¢l matenal misstalemenls in respect of irregularities, induding fraud. We obtain and update our understsnding of the entity. its activities, its control envlronment, aThJ likely future developments. induding in relation lo the legal and regulatory framework applirable and how the entity is complying with that framework. Based on this USerStanding, we identify and assess the Tisks of material misstslement of the financial stalemenls, whether dve to fraud or error, design ar perfom) audit pr¢xedures responsive to those risks, and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideralion of the risk of acts by the entity that were contrary to applicable laws and regulations, induding fraud. In response lo the risk of irregularities and non-compliance with laws and regulations. including fraud, we designed procedures which included.. Enquiry of management and those charged with governan around actual and potential litigation and claims as well as acttjal. suspected and alleged fraud., Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry arKI inspeclion., Reviewing financial statement disclosvres and testing lo supporting documentation to assess complian¢e with applicable laws and regulations; Perfomiing audit work over the risk of management bias and override of controls, including tesb.ng of any adjustmenls for appToprHteness, evaluating the business rationale of significant transactions outside the normal course of business arKI reviewing accountirMJ estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not delecl all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more thal Complian with a law or regulation is renK)ved from the events and tranSaCtnS reftecled in Ihe financial statements, as we will be less likely lo become aware of lTrStans of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations. or the override of internal control. Other matters Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 'AccA)unling and Retx)rting by Charitses.. Stsiemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amend8Jl in preference to the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2(M)5 which is referred to in the extant regulations bul has [W been withdrawn. This has been done in order for the financial stslements lo provide a true ar fair view in ac(rfyrdance with current Generally Accepted Accounting Practi. Use ot our report This report is made solely lo the charity's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might state to the charity's trustees those matters we are required lo stsle to them in an audf(ors' report and for no other purpose. To the fvllest exlent pemitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charty's trustees as a body, for our audil work, for Ihis report, or for the opinions we have formed. lan Jefferson (Senior Statutory Auditor) for and on behalf of Azets Audit Servlces Chartered Accountants 2nd Floor. Regis House 45 King William Street London, EC4R 9AN 6 March 2025 Azels Audit Servi$ is eligible for appoir)tment as auditor of the charity by virtue of its ellgibilily for appointment as auditor of o company uThYer of section 1212 of the Companies Act 2006. Page 5
THE REVERE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2024 2024 Unrestrlcted fund 2023 Totsl funds Notes INCOME AND ENDOWMENTS FROM t)onations 86,828 141.808 Investment income 180,956 162,117 Total 267,784 303.925 EXPENDITURE ON Raising funds 3,061 2,896 Charftablo actlvltles Grant making 22,908 400,675 Total 25,969 403.571 Net gainsl(lossl on inveslments Unrealised gains from investment property revalualion 364,410 {199.3401 NET INCOMEI(DEFICIT) 606.225 {248,9861 RECONCILIATION OF FUNDS Total funds brought forward 7,764,816 8,013,803 TOTAL FUNDS CARRIED FORWARD 8 371041 7.764.816 The notes fomi part of these financial ststements Page 6
Tt4E REVF.RF C.I4ARITABLE TRIIST BALANCE SFIEET 5 APRIL 2024 2024 Unreslrltled fund rolAI FIXED ASSETS Investments Investments Inveslmenl property 6.176.520 1450 000 5712 110 1450.0 12 7.626,520 7 162 110 CURRENT ASSETS DeNC., s Apiounls 12,,1ng due WTlhin one year Ca4 31 bank 12,500 749.301 250 585.806 761,801 610 8( CREDITORS falling due wlhin one year 14 117.2801 18. 1001 NET CURRENT ASSETS 602 706 TOTAL ASSETS LESS CURRENT LIABILITIES 8,371,041 7.764.816 NET ASSETS 371,041 7 764816 FUNDS J-:eslr.'cled funds 15 8,371,041 7 764 816 TOTAL FUNDS 8,371,041 7.764 816 *e fina•c'.al slalemenls were approved by the Boar¢J of Trustees and auihorised for issue on anrn were signe(J on 115 behalf by 6 March 2025 R J Vli,'Imott - Trustee I 11c Iioles Iofrri parl ol these financJJl sIAlemenls Iliirjv 7
THE REVERE CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Notes Cash flows from oporating actlvltl•s Cash absorbed by operations 165,087) Net cash absorbed by operating adivitles 165.087) Cash flows from Inv•stlng a¢tlvltl Inter8St received Dividends received Réntal income 13.198 125,240 12.284 109,418 40,415 Net cash generaled by invesling aclivities 180 956 162117 Changé In ca•h and ¢a•h equlvalont8 In the r•portlng p•rl•)d Cash and cash oqulvalents at lh• boglnnlng of Iho reportlng perlod 163,495 (2.970) 585 806 588 776 Cash and cash equlvalent• ot the end of th• r•portlng p•rlod 749.301 RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Not In¢om•lldofi¢lt) for the reportlng pérfod Adjuslments for: (Gain)Iloss on inveslmenls Gain on revaluations Non-cash donation received Investment income received Decrease in debtors Increaseldecrease in creditors 606,223 1248.9861 (364.410) 199.340 (50,000) {100,000) (180,9561 12,500 (162.117) 97,750 1.074) N•t cash (utllls•d In) oprntlon$ 17.461 165.087 The notes fomi part of Ihese financial statements Page 8
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 GENERAL INFORMATION The Revere Charitable Trust is a registered charity in the United Kingdom, no 1117369. The principal address of the Charity is given in the charity information on page 1 of these financial slalements, as are the nature of the Charity's operations and principal activitses. ACCOUNTING POLICIES Basls of preparing the financlal ststsments The financial statements of the charity, which is a public benefit enlily under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial ReportiThJ Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191., Financial Reporting Standard 102 'The Financial Reporting St8ndard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial slalements have been prepared under Ihe historical cost convention, with the exception of investments which are induded at markel value, as modified by the reValuatn of certain assels. The Chaiily has a reasonable expectation Ihal there are adequate resources lo continue in operational existence for the foreseeable fulure. It has therefore conlinued to adopt the going CA)ncem basis in preparing its financial slalements. The financial statements a prepared in sterling which is the functional currency of the Charily. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo Ihe funds, it is probable that the income will be received, and the amount can be measured reliably. Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activilies on a basis consistent with the use of resources. Granls offered subjecl lo conditions which have not been met al the year end dale are noted as a commitment bul not accrued as expenditure. Investment property Investment property is shown at most rent valuation. Any aggregate surplus or defi¢11 arising from changes in fair value is recognised in the Statemenl of Financial Aclivrties. Subsequenl fair value valuations are carried out by the trustees. Fixed asset investments Investments are a form of basic financial instrument and are initially recognised at their transaclion value and subsequently measured at their fair value as al Ihe balance sheet date using the closing quoted market price. All gains and losses are taken to the Slatement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the drfterence between sale proceeds and opening market value {purthase date if lalerl. Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value lor purchase dale if later). Debtors Debtors are recognised at the settlement amount due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short malurity of three months or less from the date of acquisition or opening of the deposit or similar account. Credilors Credilors are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount due. Page 9
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES (conllnued) Taxatlon The charity is exempl from tax on ils charitable activities. Fund accountlng Unrestricted funds Can be used in accordance with the chartlable objeclives al the discretion of the trustees. Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Restriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes lo the financial statements. Going concern The financial slalements have been prepared on a going concern basis as the tnjslees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reseThes for the charity to be able to continue as a going concem. Other recognised gains and losses All gains and losses are taken lo the Statement of Financial Aclivilies as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if laler)- Unrealised gains and losses are calculated as the difference between the markel value at the year end and opening matket value (or purchase date rf later). DONATIONS 2024 2023 Donations Gift aid 86.828 100,000 41,808 86.828 141,808 INVESTMENT INCOME 2024 2023 Portfolio dividends and gross interest Portfolio and investment bond net interesl Rental income 116.994 21,442 42,520 106.699 15,004 40.414 180.956 162,117 Page 10
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - conllnu•d FOR THE YEAR ENDED 5 APRIL 2024 RAISING FUNDS Ral8lng donatlons and lega¢l•• 2024 2023 Management d)arges 2.896 CHARITABLE ACTMTIES COSTS Grant funding of activities (see note 7} Support costs (sèè note 8) Tolals Grant making 5.200 17.708 GRANTS PAYABLE 2024 2023 Grant making 380,200 Grants payable in the year: Woodland Trust St John's Ambulance 200 s.000 5.200 SUPPORT COSTS Governance costs Finance Tolals Grant makir 514 17,708 Page 11 continued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 SUPPORT COSTS - ¢ontlnued Support costs, included in the above. are as follows: 2024 Grant maklng 2023 Total activities Bank charges Auditors, remuneration Professional fees Insurance Property costs 514 9,180 2,710 396 9,132 3.000 20,475 TRUSTEES, REMUNERATION AND BENEFITS There was no trustees, remuneralion or other benefits for the year ended 5 April 2024 nor for the y8ar ended 5 Apfll 2023. No trta&S was reimbursed for travelling expenses12023.' Nill. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donalions and legacies 141.808 Inveslment income 162117 Total 303,925 EXPENDITURE ON Raislng funds 2.896 Charflable acllvltl•• Grant makirKJ 41)0.675 Total 403,571 Nel gains on investments Unrealised gains from investment property revaluation (199.340) 50.000 NET INCOME (248.986) RECONCILIATION OF FUNDS T¢)tal funds brought forward 8.013,802 TOTAL FUNDS CARRIED FORWARD 7 764,816 Page 12 continued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - eontlnugd FOR THE YEAR ENDED 5 APRIL 2024 11. FIXED ASSET INVESTMENTS Llsted Investments MARKET VALUE At 6 April 2023 Additions Disposals Revaluations 5,712.110 455.218 (188,027) 191219 At 5 April 2024 6 176 520 NET BOOK VALUE At 5 April 2024 6.176.520 At 5 April 2023 5,712,110 There wére no investment assets outside the UK. 2024 2023 Historical cost at S April 4.087 404 4.093 835 Investm8nts at market value comprise.. 2024 EquSty Fixed income Altèmats've Hybrid St James's Place Unit Trust Cash 3,704,878 345,593 1,449,358 13.019 236,520 427 153 6.176,520 12. INVESTMENT PROPERTY FAIR VALUE Al 6 April 2023 Addilions Revaluation 1,450,000 At 5 APRIL 2024 1450 000 At 5 April 2024 NET BOOK VALUE At 5 April 2024 1450 000 Al 6 April 2023 1,450,000 Page 13 continued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024 12. INVESTMENT PROPERTY - continuod Investment property is made up as follows= A property at 25 The Eights Marina, which was grfted to the charity in two transfers during the 2015-2016 and 2016-2017 financial years, at agent's market value at 29 July 2015. On 10 January 2024. the property was valL¢8d at £575,000 by the agent Redmayne Arnold & Harris. A propety al 50 George Street. which was purchased by the charity during the 2018-2019 financial year. On 10 January 2024. the property was valued at £875.000 by the agent Redmayne Arnold & Harris. The directors do not consider that Ihere has been a material change in the valuation between the year end and the valualion date (i.e. 10 January 20241. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepaymenls and accrued income 12.500 25.000 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 (Xher credilors 17,280 8,100 15. MOVEMENT IN FUNOS Net movement in funds At 5 April 2024 Al 6 April 2023 Unrestricted fvnds General fund 7.764.816 606.225 8.371.041 TOTAL FUNDS 7.764,816 606.225 .371.041 Nel movement in funds, included in the above are as follows.. Incoming resources ReSoUS expended Gains and losses Movement in funds Unrestricted funds General fund 267,784 (25.969) 364.410 606.225 TOTAL FUNDS 267.784 25.969) 606,225 Comparallves for movement in funds Net movement in funds Al 5 April 2023 At 6 April 2022 Unrestricted funds General fund 8,013,802 {248,986) 7,764.816 TOTAL FUNDS 8,013,802 7.764,816 Page 14 continued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - conllnuad FOR THE YEAR ENDED 5 APRIL 2024 15. MOVEMENT IN FUNDS- eontlnuod Comparative net movement in funds, included in the above are as follows: Incoming resources Resourcés expended Gains and Ioss8S Movement in funds Unrestrfctsd funds General fund 303.925 1403,571) (149.340) 248.986 TOTAL FUNDS 303,925 403.571) 149.640) 248.986 16. RELATED PARTY DISCLOSURES No related party transaolions to disclose. Page 15