2023-03-31-accounts

The Cayzer Family Archive Report and financial ststements Year ended 31 March 2023 Charity number: 1122921 Re8lstered In En8land & Wales No. 06212781

The Cayzer Famlly Archlve Contents Page Report of the Boar(l of Trustees Independent examinerfs report ststement of financial activities Balance sheet Statement of cash flows Notes to the financial statements io

The Cayzer Family Archive Report of the Board of Trustees The Board of Trustees presents its report. whlch Is also the dlrertors, report for the purpose of company law. and the flnanclal statements of the charity for the year to 31 March 2023. Reference and admlnlstratlve Irrfomiatlon Dlrectors and trustee5 The director5 and trustees are a5 follows: The Honourable Mrs E112abeth Gllmour James Mlchael Beole Cayzer-CoI￿n James Rushworth Hope Loudon Dominic Vaughan Gibb515ecretary and dlrertorl Sonia aaire Bary The Honour4ble Mrs Elizabeth Gilmour, Mrjames Loudon, and Mr Domlnlc Glbbs were all app)Inted on 31 May 2CQ7. Mrjames Cayzer-colvin and Mrs Sonia Barry were each appointed on 29 May 2020. All served throughout the financlal year. The directors of the charftsble company are Its tTUStee5 for the purpose of charity law and throughout this report are collectlvely referred to as the tnjstees. Secretary and re8iStered office: Oominic Vaughan Gibbs yzer House 30 8uckingham Gate London SWIE 6NN Solicitors: BDB Pltman5 LLP One Bartholomew C105e London ECIA 7BL Bankers: The Royal Bank of Scotland plc Drummond5 Branch 49 Charing Cross London SWIA 2DX Independent examlner.. SJ Wakefield ACA Dlxon Wllson Chartered Accountants 22 Chancery Lane London WC2A ILS Stru¢tureJ 8overnance, and mana8ement The Cayzer Family Archlve 15 a company limr¢ed by guarantee and govemed by Its current Memorandum and Articles of Association. The company was inCo￿Orated on 13 Aprll 2007 under number 06212781 and the charity was registefftd by the Charlty Commlssloners for England and Wales on 22 February 2W8 under charity number 1122921.

The Cayzer Family Archive Report of the Board of Trustees (continued) Struclure. governance. and management {cDntlnuedl The power of appointing new trustees is as set out in the Memorandum and Articles of Assoclatlon and shall be a maximum of six and a minirnum of three. New trustees may be elerted by a simple majorty at any meeting of the board. At any one time the majority of the trustees shall be members of the ca￿er family. The board of trustees, which meets at least twice a year, administers the charity and a8reesthe broad Strategy and areas of activity for the charity, Includin8 Investment policy, risk management, re5erve5, and performance. All trustees give their tlme freely and no trustee remuneration was paid in the year. Details of related party tran5actlons are dlsclosed In note 12 to the accounts. The Memorandum and Articles of Association gives the trustees the powerto accept subscriptlon5. donatlons, dev15e5. and bequests of any real or personal estate. and to accept transfers of property and assets and gffts of money etc., but prohibits the trustees from undertaking any pemianent tradin8 artivities for the purpose only of raisln8 funds for the object5 of the charlty. Objertlves and artlvltles The objett of the charity is to advance education for the public benefit bythe preseNation, maintenance, and exhibition of the books, letters, manuscripts. and other memorabilia. which together fomi the historical archives of the Cayzerfamily and the Cayzer family businesses. On 28 March 2008, the charlty recefved a sub5tantlal cash endowment from The Honourable Mrs Gilmour. Sch was applled In part to defray formation, set-upi and other costs. The balance of the endowment is retained as an expendable endowment. Further donatlons from The Honourable Mrs Gllfflour were recelved in subsequent years, and were added to the expendable endowment. The trustees will not consider making grants to people or organisations who apply speculatively* except to further the aims and objerts of the charity- The trustees also have a policy of not responding to any correspondence unless it relates to any grants It has agreed to make or to the general management and admSnlstratlon of the charfty. The trustees are In the process of CDllertlng hSstorlcal archive materlal from varlous sources which is then being recorded on the tharit¢s electronic cataloguing system. GILM. The charity also maintains a detalled web51te which contains cataloEues of material held, as well as examples of specific artefacts. The web51te was substantially updated in 2020-21 and moved onto a more modern platform, the aim of which is to present information in a more user-friendly and accessible manner. Further to this. a comprehensNe familytree was added tothewebsite in 2022-23. Duringthe year. an interactr¥e section Showing details ofthe routestravelled by Clan Line and Vnion-castle Line 5hip5 wa5 also developed. Thi5 went live on the website in mid-2023, and will further be developed over fvture years. The charity leases an archive room and offices at a peppercorn rent. This ￿ntaI agreement runs until August 2027. The estlmated value of the peppercom rental is £15,89512022 - £21.(KIOI, and Is shown as voluntsry income and then offset as rentsl expenditure In the accounts. The prior year Included additional space use by a contracted project archivist for a period. The trustees, havin8 regard to the Publlc Beneflt Guldance publlshed bythe Charfty Commission in accordance wlth sectlon 17 of the Charltles Act 2011, conslder that the purpose and attfvStles of the charity 5atlsfy the requlrements of the public benefft test set out in sertion 4 of the same Act.

The Cayzer Family Archive Report of the Board of Trustees Icontinued) A¢hlevements and performan The year to 31 March 2023 saw a good number of vi51tor5 to the arthive, of whom the two most significant were curators from Glasgov/s maritime museum. As the family business, oriBinal head office was in Glasgow. it is hoped that thls wlll lead to future collaboratlon. Addltlonally. durlng the year two large reunlons for former staff of the family businesses were held, both in October- first￿ in Southampton. a triennial reunion forstaff who had served onthe passen8erline. Union-castle. followed only a couple of days later bythe regular annual Liverpool reunlon for staff who seNed on Clan Llne. The archfvist attended both reunions, whlch we each extremely well attended. and alwoys provide additional stories and material for the archive. Among enquirie5 received from members of the general publit in the year, one included a query from South Africa following research conducted on the charity's online catalogue, whl¢h led to a request for a copy of a specific document regardSng the transport of anlmals by shlp across the world. From closer to home came an enquiry about the history of Roffey Park, once the home of Lord Cayzerfs father, Sir August Cayzer. from resldent of one of the apartments into whlch the house was sub-divided by developers in the mld-1990s. A query was a150 received from a mernberof the Scottlsh Society of Antlquaries. regardingthe Gartmore sundial v•hich now stands in the Cayzer Famlly Burfal ground. and Is of an unusual and speclflcally Swtt15h de518n. Other enquiries included requests for details of leaflets and deck plans of shlps ¢)wned by family companies, Includlng helplng a retlred company offlcer Complete thelr collectlon of such plan5. A new temporary display of Union-castle ephemera forvisitors to Cayzer House was created in late 2022. This Included varlous Items on loan from a passlonate collector of Union-castle r(em5, as well as mater181 from the Archrve, most notsbly copies of twelve rare cartoons drawn for Union-castle brochures by the art15t Norman Thelwell, which were found during the search for unexpected items to display. The charitV5 arthivist a15Q spent time preparing material for the annual charity &newsletter, which this year comprised a review of the charitys artivities in the year, as well as a detsiled article on an impressNe art of bravery by Crew members aboard MV Stirling Costle. following a man4)verboard incident. which included extracts from contemporary corresp)ndence and press. The projett archivisvs contrart finished In late Aprll 2022. followlng completlon of thelr work on cataloguing Ihe paper5 of ihe two Earls Jelllcoe. A stsrt on the catalogulng of the Lord Cayzer papers, both buslness and personal. was made In the year. Th15 promlses to be an intere5tin8 and substantial project for the charSt¢s archlvi5t, and It Is expected that the prolert wlll be completed by March 2024. Numerous leads for other research along the way will no doubt surface. In early 2023, a Significant new projett to display a selection of the shipping routes followed by Union-Ca5tle and Clan Line ships in an interactive format on the charitys website was launched. As well as listingthe typical origins. routes. and destinations of the ships as they travelled around the world, the aim was that the interactive map would also Ilst'polnts of Interesy such as the locations of notable events and Interestlng facts for vlsltors to the website. Detai15 were sent to the website developers for inclusion, and the initial map went live in mid-2023, with further detail to be added over time by the archivist. A number of acqui51tions were made by the charity in the year, from the usual book5 and staff magazine5 to more 5ubstantlal items, notably a brass plaque for the Clan Line Steamers Ltd. originally tsken from the Glasgow head office, whlch was offered back to the archlve after the death of the person who had orl8lnallv acquired it. Other acquisitlons Included photographlc materlal of Cayzer famlly members travelllng on their companles, shlps, and a large collertion of voyage records, the last of great assistance in the fvrther development of the interactlve shipping routes map on the Charitys webstte. The archive also acqulred 5rnall collection of material at auction In November 2022. containin8 a ledger of officers workin8 forthe Union LSne of ships In the 19th century, and some loose but orlglnal flles about wartlme losses for Unlon-castle. There are also two early Union-castle contracts for ship5, and some wartime wreck reports which are quite rare survlval.

The Cayzer Family Archive Report of the Board of Trustees Icontinued) Ananclal revlew, Investment poll¢yi and reserves poll The chariVs investment powers a￿ prescribed in the Memorandum and Articles of Assoclatlon and these 8ive the trustees very wide powers of investment. On 28 March 2(M)8, The Honournble Mrs Gllmour donated £600,(XIO to the charity under the gift aid scheme as an expendable endowment and ha5 since donated a further É750.¢)X). All amounts have been treated as addltlons to the endowment along wrth the applicable gift ald received. This endowment fund has been Invested to eam Income to meet operatlonal costs and the charlW5 oblectlves. The trustees regularty monltor the cash flow to ensure there are adequate funds to cover charltable expendlture. The trustees do however have the power to spend the expendable endowment as necessary. Total expenditure in the year came to £85,24812022 - £132,744). This substantial reduction in costs was result of the project archivist employed over the previous two financial year5 completing thelr work and leaving the charity In April 2022. The charity holds an investment portfolio under the dlscretionary management of Charles Stanley. Other investments Include funds invested Sn the Church House Fixed Interest Fund, the Troy Asset Management Trojan Income Fund, and the Troy Asset Management Trojan Fund. alon8 Wlth smaller investments in Caledonia Investments PIC and The Cayzer Trust Company Llmlted. No slgnfficant changes are planned to the investment Strategy. Total losses on Investment assets durlngthe yearwere £123.71312022- Bains of £48,894). These losseswere a result of general market declines in the year. At 31 March 2023 the total reserve5 held were £2,586,804 12022 £2,693,926). These reserves are predomlnantly endowment reserves held in order to generate Income for ongolng annual operating costs. The charlty malntalns cash re5erve5 ft>r between one and two year5 of normal expendlture. Rlsk management The tru5tee5 annually review the risks facing the charity. The charl￿$ risks include ri5k5 in relatlon to the management of investment assets and these have been ameliorated by diversification over investment mangers and sertors of the economy. Risks In relation to the physical security over the archive's artefacts and other documents are mltlgated by Insurance. controls over access. contlnued catalogulng and stannin8 of document5 by the professional archivist, and maintenance agreements for artwork and shipping models.

The Cayzer Family Archive Report of the Board of Trustees Icontinued) ststement of trust•e< responslbllttl•s The charlty trustees are responsible for preparlng a tnjstees, annual report and financial statements In accordance with applicable law and United Klngdom Accounting Standards (United Kingdom General Accepted Accountln8 Practlcel. Company law requires the charity trustee5 to prepare financial statements for each year whlch give a true and falr vlew of the stste of affalrs of the charlty and of the Incomlng resources and appllcatlon of resources for that yeir. In preparing those financial statements the trustees are required to: select 5ultsble atcountln8 policies and then apply them consistentlyi observe the methods and principles in the Charities SORP,. make Judgements and estlmates that are reasonable and prudent- state whether applicable accounting standard5 and statements of recommended practice have been followed. subject to any departure5 disclosed and expfained in the financial statements,. and prepare the financlal statements on a going concern basis unless It Is Inapproprlate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accountin8 records vthich disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financlal statements comply wlth the Companles Act 2006. They are also responslble for safeguardlnE thè assets of the eharity and hence for tsking rea50nable 5tep5 for the prevention and detertion of fraud and other Irregularltles. Approved by the Board of Trustees on tkcrtw zoL3 and signed on its behalf by The Honourable Mr5 Ellz4beth Gllmour Chalrman

The Cayzer Family Archive

Independent examiner’s report to the trustees of The Cayzer Family Archive (‘the Company’)

I report to the trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). You are satisfied that an audit is not required for this year under charity or company law and that an independent examination is needed.

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by The Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S J WAKEFIELD ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS

14 December

2023

6 6

The Cayzer Famlly Archlve Statement of finandal acti¥ltes for the yearto 31 Marth 2023 ENpendatsle Unrgrtrfd•d Endowm•nl nd lund Ewid•ble Endowrnent fund Tol•l 2023 Unrel￿rted fund T4rtal 2022 Income Donations Investmem In¢eme 49.696 52,198 49.696 45.5￿7 41.011 62,5L 590 108,0 41.601 1551 Total Inc¢xne 101,894 1551 101.839 86.511 149.601 ExFbMdltur• Expenditure on tharitable 8Ctmt￿￿5 Costs of r4i$in8 fund5 77.718 5.2LIJ 330 82.918 2,330 125991 4231 2.522 130.222 2,522 Totsl exwndlture 77,718 7,530 85,248 125,991 6,753 131744 Net (1055esl18alns on Investments 1123.7131 1123,7131 48,894 N¢t lexpendi￿re) •nd et movement In fundJ 24.176 1131.298 1107.1221 139,4801 105,231 Ret•ntllSitlon olfvnds Total lunds brou8ht forward Transfer5 between fvnds 92S.418 1.768.508 2.693.926 914.89B 1.713 277 {50.OCtIJ 1628,175 Tgtslfvnds rarrled fonvard io 949,594 1,637,210 2,586,804 925.418 2,764508 2.693.9Z6 Thi5 Sternentof flnanaal Kbvities Includes all 8aln5 and1055e5 In the year. l in¢•m and exwndlture dorlv95 from corrtlnulw •rtlvltle& The notes on p•ges 10 to 16 fomi ￿ Inlesral part olthesef5na￿￿ $1oten)ent&

The Cayier Famlly Archlve (company no. 06212781) Balance sheet at 31 March 2023 Expend•bl• lthrestrlctsd Endowment lund fund Exp•nd•bl• Totsl Ur*estrlcted Endowment 2023 fund lund Total 20 N(4• Flxed 355ets Tanglble assets Heritage a55ets Investments 52.996 52.996 8918)3 1.490.138 47,696 47.696 881602 L614294 891,S¥)3 882,6iJ2 IAgo.138 16J6.294 891.903 1.543.134 2.43S.037 1.663.9A) Z54&592 Cwrentass¢ts Debtors Cash at bankarÈd In hand 35 66.543 174 53.L116 125 107.250 11674 160,336 94.651 161.195 66￿78 94,652 161230 53.220 119.780 173.1Tr Credltorsfallln8 due wlthln oneyear Other crodltor5 18.8871 15761 19.4631 (l44￿J r15,262J 125,666) N•tcuwr•nt asf•f5 57.691 94,076 151,767 41816 104,518 147,334 949.594 1,637,210 2,586.804 925.418 1764508 1693,926 Th• fithds of thi tharlty: Unrestricted fund E¥pendable endowment fijnd io io 949.594 949.S94 1.637.210 925.418 925.418 1,768.508 1,637.210 L768.508 949.594 1.637.210 2.586.804 924418 1.768.508 1693 925 Au&rt exemption For the year to 31 March 2023 the companywas entitled to exemption from audit under 5ettion 477 ofthe CDmwie5Art 20[￿, relatingtosrnall l The member5 have not required the ¢ompanyto obtath an audli of itsatcountsforthe year In questk>n In a¢¢crfdancewth sedity) 476. bl The directors ockn¢)wkdge their re5PDllsibilitiesfor ￿￿P￿n￿With tht r4uirtMents￿thèACtWIth respertto a￿auntIn￿ records andthe preparatiot) of accounts. cl These accounts have been prepared In accordance ￿th the provblon5 aFvllcableto comp3nle5 sublectto the small companles re81rne. Approved bythe Board ofTrustees on._. . and $18ned on their behalf bv The Honourable Mr5 Elizabeth Gilmour Ch•hian Mr55onla Barry Olre¥torlTru#eg The notes ¢x) pages Ioto 16fomi an IDte8ral partof thesellnanclal ststemerts.

The Cayzer Family Archive Slaternent of cash flows for the year to 31 March 2023 Plote Total 21n3 Total 1022 Net (ash usqd kn uperatlry artlvftlq5 13 138.8031 f82.263J Cash llowsfrom in¥•siin8 aCilvlil•s Intere￿ and dlvidends Investment mana6ement costs Movement of cash wlthln Investment portfollo Purcha5e5 of investrnents Sales of investments I retums of capltal Purthasès of tanglble assèts 52,300 12.3881 34,393 178.6801 46,675 125,1281 12,436) 113,804) 1112.413) 81,989 Ntt tash provldtd byl (used In) by In¥e5tlry actl7Atles 27,172 f5,755J Cish flows from fftn1nd￿ •¢tlvKks Receipt of expendable endowment 12,SCO Net cash flowfrom flnandn8 artfvtfl•s I2,￿10 50,L Chawe In cash •nd ash equfvalmrts In th• ¥•ar 134018) Cash tash equfvalents brou8ht forward 160,326 Cash and cash •qulval•nts Arrf•d forward 161,195 160,326 The notes on pages 10 ta 16 form an integral part of these financial statements.

The Cayzer Family Archive Notes to the flnanclal statements for the year to 31 Marth 2023 Ar￿￿ting polldes aslsof w•Arntlon These flnandal statements have ￿en prepared in accordaTrce with the Statement of Recornmended Pvd¢tice- A¢count(n8 and Rep¢Ytln6 by charltle5 preparfnKthelr accounts In acc(Kdance vAth the Flnanclal Reporting Standard applicable In the UK and Republlc of Ireland (FR5 1021 issued on 2 October 2019 and the Charitie5Act 2011, the Financial Reportin8Standard appllLzble In the UK and Republ(c of Ireland IFRS 1021. and thé CompaniesAct 2CQ6. The Cayzer Famlty Archlve meetsthe definRlon of a publlc benefftentlty under FRS 102. Guln8 rA￿C•M The trustees considerthat there are no matertsl uncertalntles about the comp8nVs abilityto ¢oDtinue as g going ￿n￿rn, and thatthere are no key assumptlors that affect Items In the zccounts. Leyl statu$ of the th•rlty The ¢harlty1s a company lIm￿ed by guararrtee and has no sharè capiial. The Ilablllty of each member In the event of a wlndln8-up Is limited to El. Incomè r•co8nttlo AJI income Is recognlsed once the chartty ha5 entlI￿rnent to the Income, it is probable that the inccry will be received. and the amDunt can be measured rellablv. Gift aid reclairnable on donations to the tharty Is Included wlth the amount recelved. Diwdends and other Sncome frorn investments are re¢o8nised In the finandal statements when the tharlty Is entltled to the Income. Income from cash deposits Os included on an accruals basls. Expenditur• rncolnilion ExPend￿Ure Is reeo8nised once there Is a legal or constructlve obllgatlon to make a payment to a thlrd party, It Is probable that settlement will be required, and the amount of the obligation can be rneasured reliabty. Éxpenditure ts Intludèd Intht attounts on an attruals basls. IrrecoverableVAT has been chargèd agaIn￿ the relevant expendlture. Irwe5tments arè a fom of baslc financial Instrument and are in1t1al￿ recognised èt their transaaion value. Subsequently. investments are valued at at thelr falr value at the balance sheet date. using the tlosing market price for Ilsted Investments, and uslng market prlce where available, orthe tru5teE5' ￿7luatIon based on dealing prices or other Infomiatlon avallable as approprlate for unlLsted Investment Thè statemènt of finandal aCt￿l￿e5 Includesthe net galns and10s5es arising on revaluation and diSFtywalsthroughoutthe year. Donat•dfa¢llltlès These are only included as in¢ome (with a correspondin8 amount reco8nised in expenditure) when the benefit tothe charity 15 Probable and can be measured rel￿b￿. The Yaluè placed on ihese resources Is the estimated walue of the gift to the charity, whlch Is the amountthe charltywould have been wllling to pay to obtalD faclltties of equfvalent econornlc benefit on the open market. Flxed •M•ts Webske development Costs have been capitalised as future economic benefits to the charity are expEtted in the form of the provisioTr of educatlonal rnaterial tothe public. These costs are written off over 15 years fmm the launch date of any components asthe economlc beneffts are expected to ¢ontlnue ft*the lon8 tern. 10

The Cayzer Family Archive Note5 to the financial statements for the year to 31 March 2023 Icontinued) polkles l¢ontlnuedl Herftsze •ssets Herlta8e assets conslst of a Trurnber of artefacts that were purchased by the arthlve In October 2013, and addltlonal Items that have been donated slnce then. Upon recelpt donated ttern5 ale valued at cust ortrustee5' estlmated value. but a revaluatlon exerdse was undertaken in the year ernled 31 March 2019. 8fterwhith 8rtefacts were valued at market value. The revaluatlon was undertaken bya specla115t auction house. These assets will not be depreck*ed as it 15 not expected that their value will diminish over time. This 15 in accordarKe wrth Settion 18 ofthe SORP. The acqulsrtlon of her6tage assets Is onlywlth the agreement of the trustees, conslderln8 the expected cultural and knowledqe value that would be brought tothe charity's extStiTrg collection. A number ot other herltage ￿emS have also been ltsaned to the 8￿h1Ve uTrJer agreement. but are not beneflclally owned bythe tharlty and have not been recorded In these attfjunts. 2023 DonatloR5 Unrestrlrtedfvnd Cash donatlon5 Donatiors in kind lartefactsl Donations in kind Irentall 24,500 9,301 15.895 22.500 21.LX)O 49,696 45500 Expendoble endL)wmentfvnd Cash donation5 62,500 49,696 108,OQ) The charity leasestht arthive rooms at a ptppèrcom rental, and Itased a sèwnd offke room from I￿e March 2020to the end of Aprll 2C22, The value tothe charlty Is calculated u51n8 the market rental square footrate payable by other tenants of the bulldln& whlch was reviewed and increased duringthe year. The corre5PDndin8 rental expense is disc105ed within archive occupancy costs. 2023 2022 In¥•stm•rt income UK li￿d Investments UK unlisted investments erse•$ listed inv•stments Interest income Property Income dlstribjtlons 25,660 9.966 2,579 12,783 L155 26,311 2.615 1145 9,917 613 52,143 41,601 All investment income in both years èrtsse in the unrestrlcted fund, wlth the exception of £5S of accrued UK Il#ed Investment income charge512022 - £590 of accrued UK listed investment income allowan￿1, which arose in the expendatAe endowmert fvnd.

The Cayzer Family Archive Nots5 to the financial ststements for the year to 31 March 2023 (continued) 2023 pendilyre cm dwiit¥ble ortivilies Dirert C05t5 Archlve occupancycosts ArchI￿ng costs Wages & salarles- arCh￿ISts Spetial projects Ban* char8es 22,631 4,643 39,279 1,940 30,398 6,123 3.104 69,553 117,916 Governonce costs Independent examlnatlon fee Accounts preparation and administration fee Compllan¢e costs 1,500 6.630 35 1020 7,020 35 8,165 8.075 77,718 125,991 Dirertcosts webS￿e depreclatlon 5.200 82,918 130,222 2023 2022 Tan8lble fthed asgets {eXper￿able end(vAwlentfi￿d) Charftyw•bslt• Cost- openlng balance at l Apdl Addltlons 78.099 io,soo 63,471 14.628 Cost- doslng ba￿nCe at31 March 88,599 78.099 Accumulated depreclation- openin8 balance at l Aptll Depredatlon foryear 130,4031 15.2001 126 172J {4,231J Accumulated depreclatlon- closlng balance at 31 March 135.6031 130,403) N•t bookvalue at 31 Marth 52,996 47,696 12

The Cayzer Family Archive Notes to the financial statements for the year to 31 March 2023 Icontlnued) H•ritW 0Ssets lunre>trlrted fundl 21123 2021 2020 1019 Falr value/cost- opening balante at l April Purchases of artefact5 Donitlon5 gf artefacts Artefacts written out and ￿luatIOn thanRes Revaluaim 882.602 880,602 880,602 837fy976 406,096 271 9,301 37,843 fl.367J 4250 (4.453J Fair value Ic05t- chslnB balance at 31 March 891,903 881602 880,602 837,876 Variou5 artefart5 were donated durin¥the year5 ended 31 March 2020 and 31 Marth 2023 byThe Cay2er Trust Company Ltd and have been volued at C05t A revaluatlon by Chartes Miller Ltd was undertskeh in Novembtr 2018. Charfes Mlller Ltd are a speclallst auctlon house dedlced to the Sale of marine, maritirne, nautical, and scientific antiques. Malntenance and Insurance of the her￿ge aSS￿l5the re5PDnslblllty of Caledonla Investments plc under an agreement daled 25 Ottc•)er 2013. The artefacts are insured forthe full value5 Stated in the account& 2023 2022 Nxed •￿ets- Investments (expendable endowrnent lundl M4Mm•rt In flx•d ass•t Inv•stm•nts: Openln8 fairvalues at l April Purchases tsposal proceeds Movement In porrfollo cash Net110ssesl 18alns on revaluatlon and disposals L616,294 78599 146.6491 134,3931 1123,7131 1522,582 121814 190.8OOJ 13,804 CIosTng frdir values at 31 March 1,490,138 1,616 294 In¥estmerts It falrvalue Ig>fflprS5e: EquIt￿$ Flxed Income Property and altematives Capltal cash held wthin the inve5tsnent portfolio 1,083,944 387,855 17,235 I,ID4 1,133,343 420,108 27,346 35,497 1,490,138 1616,294 Falr Falr value Materfal Investments •t 31 Marth Church Housè Investment Grddo FLxèd Interest Fund Trojan Income Fund rrojan Fund 342,941 404,193 181487 367,530 434,964 1873127 13

The Cayzer Famlly Archlve Notes to the financial statements for the year ts 31 Ma￿h 20231continuedl 2023 2022 Debtorn Unrestrfrtedfvnddebtors Prepayments anjj accnjed income Income tax repayable 137 37 174 35 Expenduble endowmentfvnddebto Income tax repayable I2￿( 12,674 2022 Cxedltors falllr¥ due wlthln one year Unr¢strtrtedfvn&l¢r¢ditors Atcruals Credltors 8,887 8,887 10,336 10.404 Expendableendowmentfvndcredirors Atcru?Is 576 15,262 9,463 25,666 2023 2022 10. The fvnd5 ofthe chsffty Unre5trfded Balance at l Aprfl Incoming resources Rewurces expended Transfers between fvnds 925,418 101,894 177,7181 914.898 86.511 112S,991J 50.QXI Balance at 31 March 949,594 925,41B Expend•ble endowment Balance 8t l April Incomin8 resources Resources expended ILossl/ ¢aln on Investment assets Transfers beknveen lund5 1.768.508 Issi I7￿30) 1123,7131 1,713.277 63,090 16,753) 48,894 Bala￿+ af Ji M•rch 1,637,210 1768.508 The endowmentfund was Inltlally Lyeated on 28 March 20￿ by a cash donation frcffl The Hon. Mr5 Gilmour. Further donatlDn5 bv the Hon. Mrs Gllmour were rnade In 2015. 2016, 2018, 2020, and 2022. 14

The Cayzer Family Archlve Notes to the financial Statements for the year to 31 Marth 2023 (continued) 11. Employees ThÈ averz8e numberof staff employèd by the archive durin8 the yearwas I12022- 21. 12. TrnnSadi¢)N with trustta or tonnt¢ted perwn$ An adrninlstration fee of £6.63012022. £7.02011s payable to a company of whlch The Hon. Mrs Gilmour, Mr DominlcGibb5. and Mrs Sonla Barry are directors. No other arrangernent, Includln8 transactions, contracts and grants, exlsted during the a¢countln8 perfod wlth trustees or ¢L￿neCted persons. No trustees. or connected persons. recelved reMUnera￿On dIreCt￿Or Indlrectlyfrorn the chartydurlng the accountlng perfod nor did the trustees receive reimbursement of any expenses. 2022 13. Reconciliation of net rno¥ernent inlundsto cllsh fiowfrom oper8tiThxacli¥it Net movement In funds Deduet 8rft of endowment and applScable 8ift aid Deduct donations in kind and artefacts donated Dedutt investment income and expenses shown in Investing artiwtles Add back non cash expendlture Add lossl Idedurt8alnl on rwdluat(on and disposal of Investments Decrease I lincreasel in operating debtors Ioecreasel l increase In c*)eratin8 ¢redStors 1107.1221 65,751 f6Z500J f23.LNWJ 139,079J 25.231 1488941 135) 263 125.1961 149,B131 21.095 123,713 37 11,5171 I38.￿3> 18Z263J 2023 2022 14. Re¢ondll•tlon of net debt At l Apr51 lall held In cash) Cash flows for the ytar 160,326 869 f34018J At 31 March lall hèld in cashl 161,195 160,326 15. T￿all0b? Thè ¢harity i5 8 rèBistered charity and isthus èxempt from taxatron of hs Incomè and galnsfalllng whhin Part 11 of the Corporati<ffi Tax A¢t 2010 tothe extentthat they are applSed to Its charitsble oblertlves. No tax charges have artsen in the charlty-

The Cayzer Family Archive Notes to the finandal ststernents for the year to 31 March 2023 {continued} 16. Flnanclal assets and l￿bIll￿e5 ThE fDllowln8 are financial a55et5 and financial liabilitlE5 that qualifyas basic financh41 instruments and are Inltlally recognlsed at tr4nsaction value and subsequently measured at thelramortlsed cost. 2023 2022 FlnonclLrl ussets Debtors 35 12,674 Flnondol IlablNtle5 Creditors AccruaLs 8.887 576 10,336 15.330 9,463 25.666 Thefollowing arefinanci81 a￿ets and financial liabilities thèt qU81ify as basic financlol Instruments and gre initially reco8nised at transactlDn value and sub5equentty rnea5ured at their fairvalue a5 at the balance Sheet date, u51n8 the closln8 market prlce. Flnondulossets Investments 1,490,138 1.616,294 17. E¥ents afterth4 •nd of th• r•pOrt1￿ p•rfod There are no events that have occurred Since the end of the reporting peri¢xl that requlre disclosure under FRS 102. 16