REGISTERED CHARITY NUMBER: 1118320 Inanclal Stat for le Trust Anthony Marshall Ltd Chartered Accountants 70 Market street Tottlngton Bury Greater Manchester 8L8 3U The Eric Ka Charitable Trust Contents of the Flnanclal Statements for the Year Ended 5 A rll 2024 Pa8e Report of the Trustees Ito5 Statement of Trustees Responslbllities Independent Examlner's Report Statement of Finanoal Artlvltles 8t09 Balance Sheet io Notes to the Financial Statements Ilto15 Detalled Statement of Flnanclal Actlvltles 16to17 The Eric Ka Charitable Trust Re ort of the Trustees for the Year Ended 5 ril 2 24 The Trustees have pleasure in presentin8 their annual report and finanual statements for the year ended 5 Aprll 2024. REFERENCE AND ADMINisfRATIVE DrrAILS Re8lStered Charity number 1118320 Prlnclpal address 11 Watermead Sale Cheshlre M33 3UX Truste•s Mrs S E Kettle M5JBKay Mrs M J Carr Independent examlner Anthony Marshall Ltd Chartered Accountants 70 Market Street Tottin8ton Bury Greater Manchester BL8 3U Sollcltors Kuit Steinart Levy LLP 3 St Mary's Parsonage Manchester M3 2RD Advlser5 Close Asset Mana8ement Llmlted 10 Crown Place London EC2A 4Fr Page I Th Ka Charitable Trust Re ort of the Trustees for the Year End d 24 srRucfuRE, GOVERNANCE AND MANAGEMENT Go¥ernlng document The Eri¢ Kay Charitable Trust was established by a Declaration of Trust dated 16 February 2007 as an unlncorporated or£anlsation. The registered charity number is 1118320. The orlglnal endowment to the Charlty was made by Mr Erlc Kay. In September 2CKJ7, Mr Erlc Kay passed away, and by his Will he left varlous propertles to the Trustees of thls Charlty. The trust deed requires a minimum of three Trustees. New Trustees are appointed by a resolution of the existing Trustees at a speclal meetlng. New Trustees receive infomiatlon on the obli8ations of holdSng office and tralning and development activitie5 are offered as required. The Trustees are le8ally responslble for the overall management and control of the Charlty, and meetlngs of the Trustees are held durlng the year at regular Interéals. The Trustees have assessed the major rlsks to whlch the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satlsfled that systems are In place to mitl8ate exposure to the major rlsks, Rlsk m•n•8ement The trustees have a duty to Identify and revlew the rlsks to whlch the charlty Is exposed and to ensure appropriate controls are In place to provlde reasonable assurance against fraud and error. OBJEcfivES AND ACTMTIES Objertlves and alms The objects of the Chaiity as set out In the Trust Deed ale: "The Trustees shall hold the Trust Fund and Its income upon trust to pay or apply such income and the whole or any part of the Trust Fund at such time or times as the Trustees In theif absolute dI5cretion shall think fit to, or for the charitable purposes of such 8odles, Ass(xlatlons, or Or8an15atlons as shall at the date of payment or appllcatlon be establlshed for charltable purposes only accordln8 to the law of England and Wales (such Bodles, Assoclatlons or Organisations being herelnafter deflned as the'charities") and whose prlndpal objects shall be: al the rellef of slckness of chlldfen and youn8 people wlth termlnal or Ilfe-Ilmltln8 Illnes5. bl the relief of need, hardshlp, and distres5 of the famllles of those youn8 people and chlldren. c) the rellef of financial hardshlp, slckness and poor health amongst elderly and vulnerable people and people sufferong from termlnal or chronic sickness and dlsabllity. dl to pay or apply the same to or for the charitable purposes for such othei Charities or to pay or apply the same for such other oblects as shall be charitable In accordance wlth the law of En8land and Wales, as the Trustees shall thlnk fft upon such conditions (If any) and In such manner In all respects as the Trustees In thelr absolute dlscretlon thlnk flt provided always that nothln8 shall authorise any payment or application of any part of the capital or income of the Trust Fund to or for any purposes or objerts not bein8 excluslvely charltable. Slgnfflcant artlvltles The main activity undertaken In achieving the above objects is the donatlon of fund5 to appropriate charitable organlsatlons. Page 2 The Eric Ka Charitable Trust Re ort of the Trustees rEn ril 2024 for OBJEcfivES AND AcfiviTIES Grantmakln8 The Trustees will meet at least twice a year, on a formal basis, to discuss how they want to further the Objects of the Charity by means of makin8 grants available to such tharitable objects or bodie5 as they consider approprlate. The Trustee5 wlll consldeT the followlng (although thls Is not an exhaustlve Ilstl when deddln8 on what basls a grant will be made available to an Indlvldual or organlsation: . The type of organisation who Is applyln8 for the 8rant,' Whether a grant or othei funds have already been made avallable to thls or8anlsatlon. elther In the current year or prevlously: How any Brant is to be spent; - The objects of the or8anisation who wlshe5 to be Sn recelpt of a grant; - What other 8rants the Trustee5 have made In the current year and the objects of the reclplents of those grants; - The other sources of Income the organlsatlon recelves and the amount of fundlng from other sources; Any other Information whlch Is made avallable to the Trustees or whlch the Trustees consider relevant. The Trustees have $0 far supported charltles whose prlncipal objertives are: The relief of sick chlldren and youn8 people wlth termlnal, Ilfe-limltln8 Illness. The rellef of need, hardship and distress of the famllles of those youn8 people and chlldren. A variety of cancer hospices, as well a5 Other cancer charltles. The rellef of flnanclal hard5hlp, sickness and poor health amongst the elderly, vulnerable people and people sufferlng from terminal or chronlc slckness and disability- - other charltles, such as emergency response and rescue charltles. They expert to continue supportln8 such charitles, as well as others. Publ1¢ beneflt The Charity has rnade donations durln8 the year to varlous charitable or8anlsations whlch support those In need. In particular, the Trust made Substantial donatlons to CITC, Cardlac Rlsk in the Young and The Community Seva Centre. In addltlon, the Trust also made donations to St Ann's Hosplce and other charltles. The Trustees of the Erlc Kay Charltable Trust belleve they have complled wlth the dutles In section 17151 of the Charltles Art and the Charitles (Accounts and Reportsl Re8ulatlon$ 2008, to have due reBard to the publlc beneflt when exeiclslng any powers or dLrties. ACHIEVEMENT AND PERFORMANCE Investment performance The totsl resources of the Charlty have Increased to £824,362 during the year. The Trustees have Identlfled some principal charltles which they wlsh to continue supporting for the comlng year. They wlll contlnue to support 8HF and Cardiac Rlsk in the Youn& which helps to ralse awareness of young sudden cardiac death and supports affected famllles.The Charity is also contlnulng to support other charltable projects In the UK and abroad. FINANaAL REVIEW Reserves pollcv The Trustee5 wlsh to preserve the current level of resenies, to Invest In various stocks and shares. The income generated from these investments, will be distributed to the charitable organisations the Trustees decide to support. Page 3 The Erlc Ka Charitable Trust of the Trustees for the Year Ended 5 A rll 2024 FINANCIAL REVIEW Investment pollcy and objectlves Close Asset Management Limited, of 10 Crown Place, London, EC2A 4FT acts on a discretionary basis as the Charity's investment manager. The alm of the Investment portfollo Is to provide an above average Income yleld at the outset, whllst also allowln8 the opportunity for some capltal growth, as well as 8rovrth In the Income recelvable In the years ahead. The Trustees reco8nlse that if no capltal 8rowth or 8rowth in Income15 achieved then inflatlon may gradually erode both the capital value as well as the income distributed to Char•ties in real terms In the years ahead. The Trustees recognlse the r15k associated in investment in mainstream flnanclal markets and accept this risk in return for the prospect of additlonal returns over longer periods of time. The Trustee5 W15h to invest on a lower risk basis. The Investment mana8er Is requlred to avold exposure to investments whlch are deemed to be unsultable in the context of the Trustees, objectives when considerin8 the portfollo as a whole. The Investment mana8er Is also to have regard to the standard investment crlterla and need for dlverslficatlon. During the year the asset allocation was as follows: Fixed Interest Securltles UK Equitles Overseas Equltles Alternatives Cash 28% 45% 22% 2% 3% Range 20-30% Range 37-47% Range 1&28% Range O-S% Ran8e 0.5% The asset allocatlon wlll contlnue to be revlewed by the Trustees In conjunctlon wlth Close Asset Management Llmlted on an annual basls, to ensure the Investment strate8y remalns appropriate. Oue to the current volatillty In the financial markets, the cash asset welghtlng has remalned at 3%. Perforrnan￿ wlll be measured agalnst the followln8 Indlces.. FfsE Government All Stock Index FfsE All Share Index FTSE World Index FfsE WMA Income Index FfsE WMA Balan￿d Index FfsE WMA Growth Index The investment mana8er will provide half-yearly reports, whlch will include a statement confim)in8 adherence to the Pollcy Statement or providin8 detalls of exceptlons. The report vlill also include a comparlson of the portfolio return In relation to the benchmark above. Major deviation5 will be examined and explained. The investment manager wlll also provide details of all rnana8ement and administration char8es pald out of Trust assets durin8 the relevant perlod. The Trustees wlll Inform the Investment manager of any relevant chan8es to the Trust objectlves. and of any other developments that result in a required change to this document. Page 4 The Eric Ka Charitable Trust Re ort of the Trustees forthe Year Ended 5 A rll 2024 FUTURE DEVELOPMEKrs The policy is to continue to invest the capltal and dlstrlbute the income galned. The Trustees are Intendln8 to adopt a cautious policy 8lven the way the financlal markets have performed in the last few years. They have consulted with their advi5er5 Close Asset Mina8ement Limited to produce the approprlate policy. A d15cretionary se￿ICe15 offered by Close Asset Management Llmlted In thls regard wlth the Investment objective beln8 balanced and level of rlsk, low. The Trustees have no plans at present to expend large amounts of capltal. Approved by order of the board of trustees on 24 October 2024 and signed on it5 behalf by.. Mrs S E Kettle - Trustee Page 5 The Eric Ka Charitable Trust Statement of Trustees Re for th Yeai Ended 5 A onslbllltles ril 2024 The trustee5 are responsible for preparing the Report of the Trustees and the flnancial ststements in accordance with applicable law and Unlted Kingdom Accountln8 Standards (United Kln8dom Generally Accepted Accounting Practice). The law appllcable to tharities In England and Wales, the Charities Act 2011, Charlty {Accounts and Reports) Regulatlons 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each flnancial year whlch glve a true and fair vlew of the state of affalrs of the charity and of the Incoming resources and appllcatlon of resources, Includln8 the income and expendlture, of the char5ty for that period. In preparlng those flnanclal statements, the trustees are required to selert sultable accountin8 policies and then apply them consistently,. observe the methods and princlples in the Charlty SORP; make judgements and estlmates that are reasonable and prudent. prepare the financlal statements on the 80Sn8 concern basis unless It is inappropriate to presume that the charity will continue in buslness. The trustees are responslble for keeplng proper accountlng records whlch disclose wlth reasonable accuracy at any tlme the financial posltlon of the charlty and to enable them to ensure that the fSnanclal statements comply wlth the Charltles Art 2011, the Charity {Accounts and Reports) Re8ulation5 20C18 and the provisions of the trust deed. They are also responslble for safeBuardin8 the assets of the charfty and hen￿ for taklng reasonable steps for the preventlon and detection of fraud and other Irre8ularltle$. Page 6 Inde endent Examiner's R rt to the Trustees of The Eric Ka Charitabl Trust I report on the accounts for the year ended 5 April 2024, whlch are set out on pages eight to fifteen. Responslbllltles and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charltles Art 2011 ('the Act,). I have examined your charity's attounts a5 required under sectlon 145 of the Charitles Act 20111'the Act'l. In carryin8 Out my exarnlnatlon I have foll¢)wed the Directlons 8lven by the Charlty Commlsslon under sectlon 145{5){bl of the 2011 Art. My rolels to state whether any materlal matters have come to my attention 8ivin8 me cause to believe: that accountin8 records were not kept as required by section 130 of the Art, or that the accounts do not accord wlth those record5; or that the accounts do not comply wlth the accounting requlrements of the Act: or that there Is further informatlon needed for a proper understandlng of the accounts. Independent examlner's 5tstement I have completed my examinatlon and have no concerns In respect of the matters111 to (41 Ilsted above and, in connertlon wlth followln8 the Dlrectlons of the Charlty Commlsslon I have found no matters that requlre drawln8 to your attentlon. ktln51stent with the use of resources. Grants offered subject to condltlons which have not been met at the year end date are noted as a commltment but not accrued as expendlture. CharStabl• actlvltles During the year the Trust made donatlons totalllng £6,845 to Cardlac Rlsk in the Youn8. £5,OCKI to CITC and £3,000 to The Communlty Seva Centre. TIn￿ble flxed assets Depreciation Is provlded at the followlng annual rates In order to write off the cost less estlmated fesldual value of each asset over its estlmated useful Ilfe. Flxtures and equlpment - 25% on cost Taxatlon The Charity15 exempt from tax on its charitable actlvltles. Fund accountln8 Unrestricted funds can be used in accordance wlth the charitable objectlves at the dlscretion of the trustees. Restrlcted funds can only be used for partlcular re5trlrted purposes within the obJett(s of the Charlty. Restrlctlons arlse when speclfied by the donor or when fvnds are ralsed for partitular restricted purposes. Further explanatlon of the nature and purpose of each fund is included In the notes to the financial statements. Golng concern The trustees consider that there are no material uncertaintie5 about the Charity's ability to continue as a going concem. Page 11 The Eric Ka Charitable T Notes to the Fin ial Statements - contlnued for the Year En d5A ril 2024 INVESTMENT INCOME 5.4.24 5.4.23 Dlvldends and d15tributions Interest recelvable 17,508 10,848 17,992 8,386 28,356 26,378 INVESTMENT MANAGEMENT COST5 5.4.24 5.4.23 Portfollo management 6,974 7,045 TRUSTEE5' REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other beneflts for the year ended S April 2024 nor for the year ended 5 April 2023. Trustees, expenses Expenses In re5pert of travellln8 Costs amountlng to £1,06412023 - £7061 were reimbursed to one of the trustees 12023 - one trusteel. TANGIBLE FIXED ASSETS Fixtures and equipment C05T At 6Aprll 2023 and 5 Aprll 2024 4,698 DEPRECIATION At 6 Aprll 2023 Char8e for year 3,659 372 At 5 April 2024 4,031 NET BOOK VALUE At 5 April 2024 667 At 5 Aprll 2023 1,039 Page 12 The Eric Ka Charitabl Trust N te5 to the Financlal Statements - contlnued rthe Year Ended S A ril 2 24 FIXED ASSET INVEsfMENTS Listed investments MARKEf VALUE At 6 Aprll 2023 Additions Disposals Revaluatlons 771,OSS 216,941 1225,1381 43,827 At 5 Aprll 2024 806.685 NET BOOK VALUE At 5 Aprll 2024 806,685 At S Aprll 2023 771,055 UK Investments held were valued at £598.$01 as at S April 2024 and overseas Investments held were valued at £231,445. Sl8nlflcant Investments held are as follows: Investment Held Avlva Investors UK SVCS Ltd (Quantity 38,￿0} Royal London Su5tnbl leader5 Tst C (Quantlty 21,9661 J O Hambro (Quantity 30,(X15) L F Llndsell Traln UK equlty (Quantlty 18,7501 HS8C FTSE 100 ETF lQuantlty 7791 Market Value £ 57,388 56.254 57,850 62,953 61,198 All flxed asset Investments are elther Ilsted on a reco8nlsed stock exchan8e or are held In a common investmént fund, open ended investment company, unlt trust or other collective investment scheme. All investment income is derlved from these Investments. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.24 5.4.23 Other creditors 7,420 7,300 Page 13 The Eric Ka Chafltable Trust Notes he Flnan tatements- continued for h Year Ended ril 2024 MOVEMENT IN FUNDS Net movement in funds At 6.4.23 At 5.4.24 Unrestrlcted funds General fund 795,366 28,996 824,362 TOTAL FUNDS 795,366 28,996 824,362 Net movement In funds, included in the above are as follows: Incomlng resources Resources expended Galns and Mcplement Sn losses funds Unrestrlcted funds General fund 28,356 {43,1871 43,827 28,996 TOTAL FUNDS 28,356 143,187) 43,827 28,996 Comparatlv•s for movement In funds Net movement In funds At 6.4.22 At 5.4.23 Unrestrlcted Funds General fund 869,215 (73,8491 795,366 TOTAL FUNDS 869,215 173,849) 795,366 Comparative net movement In funds, included in the above are as foll0v￿". Incomlng resources Resources expended Gains and Movement In losses funds Unrestrfrted funds General fund 26,378 159.703} 140,524) {73,8491 TOTAL FUNDS 26,378 159,7031 140,5241 173,8491 Page 14 The Eric Ka Charitable Trust Notes to the Financlal Statement contlnued for the Year End A rll 2024 MOVEMENT IN FUNDS- contlnued A Cur￿ nt year 12 months and prior year 12 months combined posltion is as follows: Net movement In funds At 6.4.22 At 5.4.24 Unrestrlrted funds General fund 869,215 (H,8531 824,362 TOTAL FUNDS 869,215 {44,853) 824,362 A current yeai 12 month5 and prior year 12 months comblned net movement in funds, Included in the above are as follows: Incomln8 resources Resources expended Galns and Movement In losses funds Unrestrlcted funds General fund 54,734 {102,890) 3,303 {44,8531 TOTAL FUNDS 54,734 (102,8901 3.303 {44,853) RELATED PARTY DISCLOSURES During the year. the Charity made donatlons totalling £NII 12023: £3.1971 to Four Noble Truths Yo8a Ltd, a not-for-profit organisatlon In which S E Kettle held dlrectorship untll 19 October 2021. io. ULTIMATE CONTROWNG PARTY There Is no ultlmate controllSn8 party. Page 15 The Eric Ka Charltable Trust Detslled Statem nt of Financial Activi for the Year En A rll 2024 5.4.24 5.4.23 INCOMING RESOURCES Investment Income DSvldends and distrlbutlons Interest recelvable 17,508 10,848 17,992 8,386 28,356 26.378 Total Incomlng resour¢es 28.356 26,378 RESOURCES EXPENDED Costs of 8•n•ratln8 Voluntsry Income Depn offlxtures & equlpment Loss on sale of investments 372 6,261 372 23,134 6,633 23,506 Investment mana8¢ment costs Portfolio mana8ement 6,974 7,045 ChaAtabl• actlvltles Telephone Postage and stationery Sundry expenses Trustee travel expenses Accountancy Independent examlner's fee Legal fees Computer expenses Grants to Instltutlons 5SO li 48 soo 22 45 3,300 1,320 9CIJ 3,240 1,260 99 22,606 22,387 29,580 29,078 Support costs FTnance Bank charges 74 Total rosour¢es expend 43,187 59,703 Net expendlture before galns and105$es (14,831) {33,3251 Thi5 page does not form part of the statutory financial Statements Pa8e 16 The Eric Ka Charltable Trust Detalled StatemÈnt of Financlal Activiti for he Year Ended 5 ril 2024 5.4.24 5.4.23 Reallsed reto8ftlsed galns and losses Realised 8ain511105sesl on revaluatlon of investments 43,827 {40,5241 Net Income/(expendlture) 28,996 (73,8491 This page does not form part of the statutory flnancial statement5 Page 17