REGISTERED COMPANY NUMBER IA747445 (England and Wale51
REGisfEREDCHARITY NVM8ER 1127194
clal S￿ternen
ForTheYear Ended 31 December 2023
Bromhead
Charte￿d kcountants
statutoryAuditors
Harscombo House
l DarklakeVSew
Plymouth
DEv¢)n
PL6 7TL

Gable5 Farm
andCa￿￿O
Contents of the Flnancial Ststernents
mb r202
Page
Refere[￿ andAdmlntstratlve Detalls
Reportof theTrustees
2to8
Reportof the Independent Audltors
9toll
Statementof Flnanclal Artmtles
12
Oalan¢e Sheet
Cash Flow5tstement
14
Notesto the Cash Flowststement
Notesio the Rnancialsratements
to29
Oetslled Ststement of Flnanclal Artlvttles
30to31

Farm
and Catr Home
Referen¢e and Administrative Details
ForTheYear Ended
PRESIDENT
Mr PJ IfKhokon
TrUSTEÉS
LJ Budge
J R Carter
CA HolFand17ite thawl
SJ Homer
PJ LThvtherldwirl
S Maltby
GÈoff Beak
Zoe HarniltoTrWynne
8 TTaylorlrwned 23.2.231
COMPANY SECRETARY
GABeak
GENEKALMANAGER
MrsCSp3rkes
BANKERS
HSBC Bank pk
REGisfERED OFFICÉ
201 Meraffield Road
Plympton
Plyftw)uth
PL?1
REGISTERED COMPANY NUMBER
747445 IEr%land and Wales)
REGISTERED CHARITY NUMBER
1127194
AU0￿oR5
Bmmhead
Chartered knuntsnts
StatutoryAuditors
Narscombe House
l DarklakÈW*w
ptyrn￿rth
Devon
PL6rn
SOUCITORS
Curtt5 Whiteford CrockerS)rth
87-89 Muiky Ptsirt
PL4 6JJ
INVESTMENT ADVISERS

The trumees afe th dlre¢tus of the thwtty fof the purposes of the Ctyryw4tsP*t x¥￿. pruent trelr report¥Ath the Ilnondal
ststementsofthecharltyftrf the￿rended 31 Oecember2022.Tr tnJste*shfft•doptekl prwslonsofAccoUn￿￿3Trd Rewtl
by Charftles: Statement ol RKcffjmended Prattke aPklKablt to dwties w*p•rlng thelr •¢foynts in accordance wlth the FinorKi•l
R•porttn8 St•nd•rd ¥pplk•bl* In the UK •thl Repubkof Ireland IFRS 1021 leffeC￿¥e l Jarwory 20191.
Thls reportalaocobttalrd a dlreaors. rwrtas requ￿￿
PuTpMe ofihe th¥llV
Th• objects ofthe chadtyare:
. to rescue Ind sh•lt•r,105( umvarrt•d and homekn dDpand rats •nd to 5w•th•m frLvn st4ry41l¢￿ •nd111 trWtmint•nd
In soddnAso. to r¢m*>v• • sourc• ofdanyvfrom th• strqets
. wherever posslbleto rest￿ lost doy •nd utsto ￿1￿4>￿
. toftnd sultsble for undalrned and unwAnted d4s ar￿tats
- to provld• eduutlon ortr•ldrv4 as to th• ffonaprnontand *￿re of such anlrnah. and
. suth oth•ractbAttes as m•y promot¢tr* weW•r• oldop ind ¢ats•nd thai b•*pw0pr￿tsto th• (wr4ukn•nd ￿￿tIty
Oft￿ ¢h•rfty.
The m•lorlty ol our •nlm•ls •r* unw•ntqd p•ts, •%*n up thdr o¥w*rs lorvarbms We t•ke In stw •nd lost th•t •r•
found wafvJorlryth• str••ty som•ln • wéry pDur(oThl￿4￿d knd•sper¥t•Med ofhelp. •￿d￿d11med str•ydoy from lo¢•1 wundls.
We alsot•k• •nlm•15 from the RSPCAth•i h•¥e sadty bwn •NI •bus•l by theltown•rgorlnJur•d In ro•d trafflc acdd•nts.
Itun t•k• • lo￿11￿• toyln tho tntstoftr•seirthwls tob• •bl• ￿ r•h•blWti¢•th•n sotlyran5t￿tO •tyoy Irf• and look for afrtw
home •$ w• •re • charttywe belI￿e thBittrw• lsa sp•d•l sonwoMoutth•r• fore¥•ryd4•nd ut, Stlslust • c•M
offiThjI￿ them. W71h thls In mlnd. •ll do8s•ve also a55•￿d by • qualffied be￿¥￿J￿$t w est•bllsh wh•1 w¢ of they n•
•nd Ill ofour •nlmols•r• hwlth th•¢W ty • V*L n•uttr•d rnkfothtpp￿, v•ccln•ted and treited forfieas ar#1 wornis befOre￿Ing10
• nqw hoffle. We •lso provlde •thke on re¥￿nSIble pet o*mrsNp. sypffi •xl ethK•¢k*n to wr*rs b¢, for •xarnpl•* pr￿0t￿ the
knport•nce of pet Insur•rKtio ensurtthlt It￿ c•n help the1ranlm￿$str￿i1d thy be¢ome11.
We Ilw und•rt•k• • wAd• r•rv41 of icU¥ltlesln our lo¢al In¢Whw'.
N•lplniloul ctyJnd15 by wG¥ldlrrfa ternp¢wl)o•rdknAs•rwk•. t•kh¥c•rnofwi f¢r¥ulnertU* ptts* In dfficult￿tUt1ofi
ynfjl th•lr ty•rMfS •r• In • posltlon to recwm the
. Prtyldlry mk1￿￿ppkni101 aty sir•ythorutthat ha5 rntalre•dy been rnkrocNpped.
. In¥oknnent In rnutt1.ay￿ outrt•th ertrrt5wIth the RSPC4 •Ut￿lty￿A lot41 vety
c1rry1￿ *nd f•¢llll•*ni •xl•mol trnp neuter ar¥J rel¢w ITNftI proowrn￿ to •If•¢I￿ IwJmindy (ontrol hr•l ut
(￿￿￿e5, Is w•ll is reh￿e ￿Ul¢r4d f•ralatsto • more •pwopri•ts Icutson Ifthry be retwn•d.
Prowldlry loc•1 v•ts 4¥1th do6 WoL*J do1￿ to SM the I￿￿$01￿1 doy 11n•e￿O kn •n tm•v8•fKV
The ¢h•rftles oblq(the5 and aclfvths acNtye the of¥oluntetr5. The ¥olunteors fv th￿r help ITh nurnerous Ways
Such8s¢a¢¢tyy4w51•r￿, drywalk1￿ receptiOnar￿•d￿inl$lrnfj￿dul￿s*nOl[t•l%othèMI1nit4YoI thevadou5fundra151n8actsvltles
and events ory•fils•d by the charlty. Thes• dedIC￿ and voluntoers the ￿l￿rIed stsff and are èn extrernefrl
valuable fes011￿.
Publlc ben¢fft
TheTrustees have cCrfn￿￿d wlthtt*thJtyl• sedkn4ofthe ChrttlesAct 2011to hwe ry¥dto tr¢ ￿￿1[¢ ber•fft Iuldanu publlsh•d
bythecharlty CommiwMqr&

STRATEGICRfPORr
W• have cor￿Idered the1u*l•￿e publlshed tytr*th•rltyCrynrn￿ft's0￿putslIrblneffiL Were¥lewow•lm4 obJectIves•￿1 Kthhtlqs
h ye•r by we h•4e #￿￿ed and the out¢c*w ofow The look5 atthe success of e•¢h act￿lty4￿d
the benefits they hov• brol￿ to brnp5 of peOple**areixi4nKto￿￿. Tl* revlewalso helps u5 Ifi￿re our•lm. obhectlvesand
Ktkntlos remalned focumd on our5tated pwr#xe* 5rffie Wectsofourp￿1*lYeDefvt kn 2023 IrKhOe:
W¢ m•t¢h petyl•wlth follm and ￿￿￿1¢0mPlI￿l, wlth * V•lWb￿ lour4ewd frlend •nd famlty mernbef.
Everyyearwe recthe feed￿¢￿ frryn many ofthose1*￿ hm •dWeil •rnl f<>stwed dopand ¢*ts frorn ustotdl us howth•
¥e aTrJumpanI(￿th1p ofthelr&blts ut orth has1rnwtr￿d tw Ib4eS.
Wepmlde• bro•d r•nDO1￿Wtrw*hk*Indvkl*aK¢10￿dil￿tsr￿Èf0rthèbr¢¥ts￿d￿ To•n•bletherntOW•¢lke
respons1￿¢ WownersNpW￿ tske ￿p￿pr￿ale Meps th addrÈss•rry problem beho¥4wrs.
W• offer suppwt •nd athlce to arryC￿ to for thdr doAw rat and when IVS the best thlry for everyone, w•
tske In doy •nd uts •nd find them PK*nes. Ow and uts •r• I￿tht to usfoT sorts of re*sMs. Indudlni by people
who ai• stru￿&￿ dueto cl4wes In accornmodatknn. fln•rrtl•l proNems. rd•tknshWbre•kd¢y*ns, and •5
1st￿ anIM•￿ beh•¥louf. We nevtrludy. offerlw p•K•of mknd and a safe. (￿￿ble w*yt• rdK•m•• pet.
By hdpln8 pqopl• to •dw doth nwd ¢¥Wtbse •J p•rt of th•lr w• w0¥1th the lor peopk to vt
flttoraThd heatthler.
OurArlm•l C•rd s¢tr•n• ffid•s f(Ywt *4lh ¥¥e WMI ure lorthilrdry orut
Inlhe eventof thelr
W• rthomtfernl wNth ￿1 cNirnunn61s suff•r from owpopul•tkn prot4•ms.
W• m•lntilTha h)st and fou￿ retystwwhkh help$ 10 ieyrale pe¢pl•*th th•lrb*loved pet&
Some f4cb•ndfiyrnsfor2023
162,500 wmhed •Ad drbod.
29,OJO do¢me•ls ￿pIN0.
a0,￿1 doqwalks done.
62,fAO ut m•¥ls yep•r•d.
6,0[￿1 loads of laurtrjry done.
8.c#xI Iln•sof w•shlnKdr*d Inth• fr•sh¥r.
1.973 more fdl¢y#èrsylr4 on sodal modb•.
12,755 phone calls Made ind recefrmd.
ioi ext•m•l •vents•¢¢thd•dio r•is• pr￿￿*￿• wth*ofth•th¥lty.
25 co￿leS reKued from hoTh•ndou5 (or¥JthTh In • PUP￿ farrn Pro￿ wlth spthN51 rnlrfrq and beh•44wr
supFort tofind lovlrf htynts.
3 edltlonsoflJ115' m•pzlne put￿lshI￿ •Thl s•nt<xrt tO￿ll urKler2QlX))￿rj.
We meajureour re1￿MInIS￿C￿￿ rAt q￿ntstyof ankn•￿ rehorned. Tkne Is taken In ensvrf￿thlt1nlM1l￿ are rehormd to
th? correct famlhf orInd￿1￿Ui1. M05t anlma15*4115tay •tthe homeforpJ5t • few ￿1*5 but oth?r5 wlth spec￿1 requlrernentswlll 5toy
fore¥twdedperh)th unti1t￿•re reh•blllt•ted 4nd•bletoflrKI •suit•Werwlwe. Tr re%￿tof1O¢U￿OTh4￿￿ltyoTrdn￿tqy•nl1ty
senabled tharftyto ha¥eone ofthe lty•rt Wnol the hy*As¢return rates knthe (ounty.
We yclallse kn tsklry In and cathi for mary +)ther turn •w•y or do th• •xptrtLst to
hdp. Theseare Mkety to be anlmalsthat h•rt been atmmed orffte*tt￿. sowill stru￿ tocopewlth Ille. Th•s¢ m•y b•fw•l
cats th*t t¥nnot ￿ handled by people at 811 ind need tobÈ retrM)m& to * rur*l Sètth8 as a l*mi stsble y•rd. More commonty
tlw can SIMp￿ be dcy and are ddeth andlor ho¥e methal (ondnk*Tr5 thatun be coth or ha¥e behavknw problems
thii ¢*n be irtredlbty thffku￿ to twtrt+)me. fv ttwitywl *rry MÈ￿￿1 ¢* b¢hIviti￿ F*obl¢ms ttr* anlm•ls may hove then
Sse55 I￿1**d￿31 l￿d$ as lara5 relVJrnlwlswn￿Tped. C#Jrin¢2022 we kncreased ¢¥x sped•llst beha￿1)ur￿l stsff toprovtde addf(lonal
supportand reslllette In INS area.
As thethwityoperates8 pdicyof1theu￿n8$la. isnoknme fimit on arry •Thfft•l ory1•5 kn8•stI￿ar￿Th¥1[5 CWtentaThJ cancope
h everyday lffe then It remaln at the £entre untll a new is fr¥￿. The thath cons*aers itsell to be a reput8ble rehomlni
centre afid as suth belleves be ￿eSp￿*bIttO rep￿*￿11$ q•to•rry¢ne just to•thwe • hi8h tunbmr.

Gables Farm Do
s'an
' Home
i5tered number.. 06747445
Re
ort of Ihe Trustee
r The Year Ended 31 December 2023
I-A A theEI
Elderly anima15 hold a special place in our heart5 and we love to care for thern and give
thpm the best veterinary care so they can enjoy their final months, or hopefully years,
pain free and happy. In May 2023 we took in an elderly catwe affectionatelycalled Aye-
Aye. This lovely￿twaS found lying in a road in a collapsed state. She was extremely cold.
underweight and lethargic and wa5 token to 3 local veterinary practice where it wa5
found she was hyperthyroid and in need of urgent medic41 care. Sadly She w35 not
microchipped so we had no wayto trace herowner. WhenAyeAye arrived atGable5 She
was clearly very undèrweight with a body Score of just 2 out of 9. and in a very poor
condition. She was not underweiEht due to just being old, She ha5 untreated rnedical
issues and had not been fed properly. She started to pui on weighi due to recei¥inE 6
5m311 mea15 a day of a top Quality veterinary diet. Once She wa5 Strong enough she had
8 dental to remove some very roiien teeth and a tumour on her jaw inside her mouth.
She also needÈd a heart Scan and blood taken io assess how well her hyperthyroidism
medication was working. She recovered very well and once She felt betrei her wonderful
personÈlitV shone through. She had such charatter and wa5 500n adopted by a lovely
lady and 15 enjeying her retirement in style.
Working whh other agenties
We have continued working with other locèl anirn31 charities across Devon. Cornwall and Somerset tc rescue dog5and cat5 in (Sesperate
need of help. These anirnals were being kept In shockin8 tonditlOn5 by IDcal breeders. puppy farms and animal hoarder5. Caring for
animals that have been rescued frotn these situations is very difficult but extrernely rewarding. Although li can take a long titne to get
them medically as well as rnenrally fit, we are thrilled to have rehomed many of them to wonderful new home5, although some remain
with Js as they continue on their rehabilitation journey. We 3150 a55151ed our local authority by welfare boarding dogs and cèts for their
vulnerable clients. We have also ca￿d for a number of do¥5 on behalf of the RSPCA.
estvd 2-Pu
Farrn
andH
We are no Strangers to the horrendous damage that backstreet breeders,
commercial breeders, hoarders and puppy fartll5 do to the health and wellbeing
of dogs and cats. havin8 taking in hundreds of doES from local puppy farms and
hoarders in recent years. One such case in 2023 resulted in over 200 dogs and
puppie5. livinE in horrific conditions, being removed frotn a single North Devon
property, with 28 of them coming irito our care. The dogs, consistin8of Collie5 and
Collie cross Labrador5 ranginÉ from just a few day5 old to IQ years old, had been
living in terrible conditions outdoors with very limited access to food. water and
shelter from the hèrsh winrer weather resu￿Ing in them all suffering from
overgrown claws. flea and worm infestations, ès well as severe malnuirition and
heavily matted coats.
Sorne of the puppies were so weak they needed 24 hour Care and sorne rnothers
rejected their pvppies as they were too weak and trauTnatized to care for them.
Our Deputy Manager Ruth Rickard was able to take the tnother5 and iheir puppies hume to hand rear them. All of the dogs were seen
by our contracted vets and received appropriate tests and treattnent. We 5uppleMented all of the pupp¢s diets with Specialist puppy
milk to 8ive them the best chance of survival, while allowing their emaciated mother5 to build up their own strenEth. After 3 weeks of
Intensive care the pupples arid their mother5 5uNved despite all odd5.
new
We Successfully found loving homes for all of the puppie5 and most of the adult dogs. The remaining adult do8S took over a year to
rehabilitate but they are now doing well and are 3vailable for adoption.
Working with our local commtsnity
We currently have more than 106 dogs ori our waiting list and more than half of therTTr have some kind of behavioural problem Ithat we
know about). These issues intlude Bggression towards other dog5, a8gression towards c8rs. dogs that have already bitten. dogs ihat

Gabl Farm Oo
nd Cars. Ho
Re
1Stered number.. 0674744
ort of he Trustees
ar Ended 31 De
mber 2013
ForThe Y
aren't Éood with the children in the home. do8S thatare reactlvetostran&ers and dogs thatguard resources, and morecommonly rescue
dogs that have been brought in frorn abroad by other'rescue, organi5ations. Many of these dogs were initially bou8ht on the internet
but sadly they ended up In unsuitable homes whlch 15 disappointlng for the owners as well as deirimental to the do8. Covid has only
served to rnake the situation worse with fflany people choosin8 to buy puppies that could then not be socialised properly.
The charSty continues to impress the importance of neutering and micr¢xhippin8 of pets. It spread5 the word that thi5 is a legal
requirernent (currently for dog5 and for cats frorn June 20241 and can help immensely with reuniting a stray ènimal with11s owner at
very little cost. The charlty offers a heavily dlscounted microchipping service to encourage local people to rnicrochip their pers. In
additlon to rehornin8do85 and cats, we have helped to reunlte a substantial number Of lost do8$ and catswlth their owners throu8hout
the course of the year. We have been able to do this through our strorig reputation wlthin the comrnunityi the malntenènce of a105t
and found resister and proartive use of soclal media.
tud 3-Theim
mScr
In Qrtober 2023 we took In a one-eyed 5trèy from a local vets. As he wa$n't mlcrochlpped we had no
wèy of tracin¥ hi5 owners despite our best efforts. He wa5 then featured on BBC Spotll8ht when they
Illmed at Gables for an unrelèted news story,
Arnaiingly hls owners saw him on TV, and Immedlately recoÉnlsed him as thèlr rni551ng cat Tl88er
Hnd came 51raight to Gables the followin8 rnornln8. They had never thought to mlcrothip Ti88er as
he came to them as a Stray. pokin8 hls head throu8h thelr ¢Ht flap one nlght, an easy oversi8ht mgdÈ
by many well-meèning pet owners.
They were absolutely overjoyed to be reunited with Tigier ofter 3 months, havln6 lon8thou8ht they
would never see hlm a8aln.
Tl48er Is now mlcrochlpped and enloylng Ilfe back 8t home wlth his f•rnlly.
Fundralsln8
We are almost entirely rellant on the generoslty and 8oodwlll of our local community to achieve our obleciives and 5UPPOrt tht anlrnals
n our care. The vast majority ol our income corne5 Irorn publlc donations and le8acies which are secured through various fundralsirii
ctivitie5 in¢ludirig 50cial medi• camp418n5 Ond locil events. We 0150 recel¥e a small amount of Incorne frorn other actlvlties such as
do8 and cèt boèrdin8, shop sèles ènd anlmal sponsorship. We also retèive many generous donatlons ol It￿M$ from the public Ih3t we
Identify as beln8 needed to care for the anlmals under our care.
We oro comrnitted to lollowing besl proctlce •nd en5urln8 thot all cf our fundralsins actlvitles are undertaken In a responslble and
ethical manntr. With this in mind, vie have re8lSttred with iho Fundraisln8 Rtiulat¢rand si8n¢d up tothtirCad¢of Fundralsin8Practlce.
Keyfeatures of our current practlce are as follow:.
We do not Use the servlce5 of an e¥ternal professlonal fundraiser or cornrnercial panlclpator lo carry out any fundrai51ng activitles.
We do not carry ¢ut any door-to-door fundraisin8 actlvlties or approach indlviduals dlrectly to fundraise as we feel it inapprupriatt
to Invade people's prlvacy or put undue pre55ure on them to donate.
If any of our supporters or lotal tommunity iroups ar￿ kind enou8h to carry out fundraising activities in ovr narne our fundra151ng
staff support them through the process and keep in touch with them alon8 the way and receipt any funds raised.
We have H vulrierable and potentially vulnerable people policy as well a5 a 5afe8uardlng policy that all staff and volunteers adhere
to.
We have an est3bli5hed tomplaints procedure should someone be urihappywith our •ppro¥¢h to fundraisin8.

' 8ndCa1￿ HNne
nLrn
reslllence In the Ma￿￿ernent ofour11￿ndol •ff•irn In 2023tho rmided us IrKome of f4L465 whl¢h pla￿￿ an knr#)rtant part
in ¢Mtributift8 to runn&w cost
The CharW5 Irwe5tment portfolio rernaln5WtththeCOIF Fyttd opwated byCaA At 315t December 2023 of our
dinl in the COIF Irwe5tment Fund was £L039.615 (plus £25.LW ￿ deP￿t acCo￿tI t*rth ￿ overnll grthvth lfi the fvnd of 12.2%
duringthe year. sho￿ Valu￿¥re￿welal￿eXpÉCtQdto rtsefurthordwirry2024 and sowe expect our a5¥0fiated imitstrnertretyrns to
be #able duri￿ the ntxt finèr*￿1 year. The *bal spread of 1rNeStm￿ pmwde5 a cu5li0Th against fa115 sertoror in one
country. Furthennore, there ts a element of orefvl tsWe5t￿ In su5tsknable and erwonmBntslly friendty s¢¢tors. Indudlng
diiert irtvestm*nl in thiry Ilke*yrylf4rrnsJnd the lik¢
The Chadty fecelves gU8rterty rewrts M the ofthe Furtd. and a meml>er of the Board monltors actlvlty and rwts as
necessary to1￿ Board. CaA a￿0 re8ukrwel￿nars C(Y4erfn8 general eccmmtc and Orwestment ￿ whKh arebvy helpful in
urtderstr4rtdlngt￿ imiestrnentdeosic￿ made FuThJ Inrtant valuat•)n5 can of course be obt•iDed online at anytime.
The 8oard remainconfidentwith the caA inw+4t •1*. of¢our5< ¢orth1￿dIffic￿1IffitS￿￿￿WW1d e¢onow.
STRATEWC REPORT
AnarKlal re¥lew
Ourflnandal poslilan
Owtot31 Éwpenditirre In 2023 wa5 £1.2&751 compxed wlth £L074345 ffi 2021 an ¥Krea5e of £188.K6117%1. Tr wimary reason
fortlms increase relates t¢+tt*ArowM8costof 1rybe1n8w￿elKoj by t￿nesSeS tharltlesand hOL￿ehold$tIwol￿￿yrtthe ¢ountry.
This Induths a sylficant in ourer*BYC05t
OwtotslirKomeln 2023was £1.698.836 cornpared￿th £911792 in 2022. ir¢reose Is￿MIn￿•s4 ￿s￿1t0fthea£cf￿al
a small nuMberof4￿lftcaMt le8a0esth1th￿Were made aware ofttr•Rrdsfv of2023 and in thee¥fy rrtonths of 2024. We are
exirernety 8ratefiJl for the genemsity of loral comThr4ty. knfftr. it Is inpxtant to th•t thls Irf0￿ yet
been re￿Ne￿ by thE charity. Moreover. legaty ineame is ThyPreC￿￿¥in natwe difficuk io pred￿ I￿$ $0 be
relied uponto sustaln thedwritrfs Ktwftie50n an ￿￿tra51&
InsUmmary*WN￿tourfin8n¢il1¥O%t￿￿ atthe eThJ of2023tssatssfw. rlsks ￿0￿•bilitytOS￿5tr1nthls Fosldon
tyerthe¢oMir￿Yea1S. These IrtI￿eVo1￿￿rtYIn wKome.the ￿￿nIC0sts of8(K*ts and seThI￿and further tharyes Inthe￿a￿lI
ecortomy. We VAII. theref￿ t(¥rtlnue to monknourfinan¢i)I w10nd05etyw￿ •thpt our plans accordthth.
Owreseryes polryls Telle￿*￿￿011yl￿I 51ats5thèt
he trustees cty)sK4er It is prudent to hobj the tharws reser¥es its costs and cryt51kn that It would be re(k1e55 to
dei1beratelyd&￿eres¢U1Ce$¢O Thispc&cyalsoretwi%estF4•ta w¢entaBeolthe5ere5eThes must
be 4v•l•blE forthernalntenarxe and ￿￿10f flxed •$$•￿.
Ourpolityt•kesaccouTrtofthe&nount and njture of the Ir￿￿ required tofulft the thèrrtVSobiec￿. The income from r*homin&
hJndralsln& Investments ar￿ the profits from the trathng 5ubsKliJry caver sub5tantièty le55 than the costs ol ruThnfjn8the c￿rIty wfjth
thÈ bala￿e corn1￿ from ￿aC*S whKh ty tr￿1r Very no￿Te are extfernely unwedlctsble and varialAe in nature. The t￿￿te¢S also
r¢¢oBnise thot ott*r Income Is lIke￿t0 ￿ffer IA thvrent diffipjtt (Orth￿ Furtherniore. we have an aping asset base
and need to seoxe furtherirnpro¥ements kn tl*fadWdes** totheanhmats in ourtare. I￿￿dIng Phases 2 and 3 of our kenr
repl•¢emnt pro8Trrnme.
balarKe hekl as unrethided lunds at the 31 December 2023 was £3.868.926 of £129&937 are ¢w￿￿￿'free. reseNes
afterallowingfarfubw5tiedvplnt￿bleIoXed assets(EL67L989lardthehltiwirqreser4*wluthhwe beende51Wed bythe 8oard
ofTrusteesforspe¢ific purp05e4 as fomow

Farm
47
31
Ca￿￿11nfraStrvctu¥¢R¢$eTrY{￿:weh￿•Tra8&¥4$setbl$e aThJrt¢dtosecurefurtherinyobvnentsknthetadllbes
we provh4e to ankn)31s In wr m Thiq IYthdEs Phases 2 and 3 of our kerA*l r¢plarement pro8ramme. We mLtyt a150
ensure thatwe malntrin 5ufflderrt fuTh1s forts* rep31r and rtJ*ementof ouf critir•l IrrfrastrUctU￿.
The of Yre& re5ew4Y 15t(￿S￿t￿rt *ith ourpolw of one yèarfs tradinB fv￿￿1*1.3M in 20231 Ixrtnw not fvlty mSWte
theoJrrents6gnffie•nt ecorKsmk rlsks Orthe￿ to Iiwestin infr35tnK￿. wrth IlM5 kn mInd.we¢ty)slder¢￿rleyel of reservesto
be prudent and ￿1[ eon¢iTrue to I(￿¥e1¥ fundAi* a￿1, seDxe 8r4ntfthth8 to SUPWt the delP4ery of wr oble¢t1￿5
Overt￿ ¢ornin¥year.
STR4TEQCREPORT
We ha¥e completed a miew of ourex15t1rq1nffaw￿￿ ttitl*ctyrte¥tofoWstrawt4￿IYtIQTr5 and external r4datryy
expÈ¢iatlon5 and hfft Identlfied a rary ofcapital Irr￿5b￿￿ maybe r*eded next S￿￿5. Thbin¢We5
Phases 2 and 3 of thr kel￿ tYJib
Purchase Ofadthi￿I velude5fgrattendw¥ events,{￿1r&￿%NVa*fy￿ wrynotH¥thewL¥kofthe ch•.
Repla￿ent offenonlforourdo pJthJock
Replacement of¢afvantsed mesh parts ofow ￿ld¥￿al¥j keMe&¥thh Sts&￿e$$st￿.
Further￿￿, a prfor5tyforthe year 2Q4n5 ts thenoed to ￿quIrem￿￿t0 make all kndknes ￿ trmah the InttmeL
posityon is irtsuffioent to fund irNesirnefit> We t1wel0￿ seek to (knveknp firmer plans to address these tssues the
Ing ￿r.
The ortglnal tharlty was fouThJed under a deed In 1906 and was by It t*Rs on 12
November 2LJ)8, in E￿and Wale5, ￿rn￿rry rwrnljer 6747445 and wa5 retstered os a dwrlty number 1127194. The actNities of
the old t￿lity teased en 31 may2￿9 W￿rt itsasstts afid liabilities weretrartsfaTed to the dwrittheompatywhKh kn took over
theactfr￿￿s. ThedwrftslAe c(¥rY￿WaSe$￿tliShed¥s a corn￿1￿￿01ed tygU￿Trtee uThJera memor￿d￿m ofAssodatknn. Int
Bo¥d ol Dlretttrs(ffttstt*sl
Thecharity Is 8ovefned by a bOa￿ofd￿ett(￿s1tn￿lee51w￿**MQ￿ttr￿l￿Yl arewem plaeedtomakt sp¢edy•JW effective
dedslons when necessary. At eath Nnnval General meeti￿ one thrd of the dirertors or. rfthelr number ts not three or a multiple of
three. the nUmber￿areSt100￿tTr￿rd nyJ# retirefromofficeaTrJ stsThlforrtrelettton. AGeneral marw1sapp￿rtted bythetn4tees
to rnar￿ the daytodayopeTrti0￿0f tharityarKt stratrycdEriyon5 aretaken Iy*1tt￿ boJrd of dlrectors Itrusteesl.
Infomial lnieTrIe4￿lo explOret•A*tr￿Trt￿lI canthdates(an offerand whatthe rojeof tr* trustee ertalt%
misstoThofa CVdetalhn8the s*llsand 2waXeth*candida￿CW1d trrrirytothe tharity.
Feedbackontr* infomial Int￿￿S CvStothef￿ board.
Formol intervitrsfortho*uthJhl4tesdeem¢d •$pOter￿*￿Tfv1•IU￿thl d4rWs M•
Afull imdudionforsuccessful ondth*
One of our lonl.smrtdl￿trtisteeS retlred dur4n82022y￿1slln￿trusteÉ resw*d ine*rfy2023. Weare.therefore. attrrtlyseekin8
to recrult a￿1 apwnt new board ￿￿MberS wtho are able to brlrva wofes*Mal skfjlb and oxwthe to the charlty that WNI further
objectNe*

Gabks Fan
47
YÈai E
31
We are commiited to adppbnK Ibghest st•rtd3fds of en￿la1 Ste￿￿￿P to enswe that the charlrfs resources are managed
effertfvely. Weh•veethblishtd4pwopri*epoli¢￿a￿dCc￿trolst0dlsdWge￿re￿W￿&lleslnth￿fe1afd.Thls1r￿lUde5a 5pend¢n
approvals policy whi¢h has been de*r*d to an apkwiate baknce ljetsten mar￿gerS to malntaln ¢Jperntianal
ThÈ pay and remur*ètlon ￿ the key pÈYsorn*l and stsff 8fe r*•le¥*d by the Board on an annual ba5ik The dwrity
recognlses that tr3lned, experlenced and M￿1vated staff are wr kn asseL The amual rv4iew has regard to the tharft(5 finaft¢ial
notremunerated in arryway bythe char6ty.
A rlsk mana6en*nt poky is In pla¢e •nd thLs at • •Mu•ly by trustees and is updated Immediately If the
profile of • wifrarrt iisk tharys. The trnstees have assessed the major rts*s to vthkh the chrityls exposed and are satt5fied that
systems are In the to Manage those iisks. Any rth fxed by the d*rlty are dtscussed re8ularty at the trustee5 meetlngs. When It is
Ga￿e$ F•nx O(yarKI Cats Home has estsbMsW a ¢omyry kni¢¢d * 8V¥•ftte 4s'G•b￿S F•rn Ente￿IseS Limtte¢f.whose
primary purpose Str* Operate a number ot commerclal ￿en￿re$ behalf of tk dyrlty In supporting dekwery of tyJr overèrthtng
Thecharjty hasonemajortWtrO(tth4t beinBfortheprrNtslon 0fvtheriNry¢a￿f¢r4rriM•ISw1lhinoYrtsTè. nb$tontrarttswrthRlham
Pork vets￿nary alnk t*ho part of CVS youp PLC As TA￿1 as ￿fft6 cost effioent it ilbws for the fovward budgetsry plannin8 of
Our charlty exlsts to makt a w51tNe dIffere￿e to the of 8￿malS who often at the 5adde5t and rn05t vulnerable 5tsge of
thelr lives. We rety on ow Manag￿￿¢ tea￿ staff. ¥oknrrteers and partnws to the ind support needed to
Ive these anlrnals h¢)pe •rKI stsbrfity for the fU￿re. Trms A*)rk LY extrPr￿ty rewardirq but it Is also ph¥sICal￿ and emotionalty
hallenglng and. attim*. traum*i We woukj like to ack1￿ the intredbbk efforts Of￿ GalAe5 term aTrJ thènk them from the
botttynofour ￿artsfor ?•￿thIn8th￿theV h•¥edfft. aThJ co￿tir￿ to do. knohrqlorthe anim•lsTmth￿ ourcommunlty.
The tru#ees Iwho are aLw dlrectors of G*es Farm W •rnl C•t< trh)rne for the purp)5es of comparry lawl afe respon*bk for
preparln8 the Report of the Trustees the fifta￿l￿ #atemthts f*Tth aP￿atrIe low and Un￿4 ￿rIdOrn kc)untw
sta￿ards Iunfjted Klngdom G￿TrI￿￿repted￿rtyJrrtlrypra£l￿*l.
Comp•r4f l•wre4uWeStt￿trVsteeSt0 wepafefmtrthlstat￿￿fLye￿hl1lW￿salYe3rT#Ath tye a true andf•lrv*wof thestate of
affatrs of the chari¢•bl• wmpany and of the IrK¢wnIrrf￿soUrte$&nrt applrulim of re50wce5. ￿dIr&the inccrfne and expenditute. of
d￿rItsb1e comparyforthatp¥wd. In pr￿￿those fin￿al$l3￿￿*r￿ thetrusttes ¥erequired to
Obsefft fflethods and p￿￿[pIe$l￿ tr*Chath SORP:
•A•ke judgerrthts and ￿mate$that are reastmutde and
stste ￿￿ther appllcable st*￿rdS h•vt been subhect to arry n)atulal departwes d￿osed and
explalned in thefinarKia15tstements:
Prepare the firwrKlal stst&Meftts on thE corKqm bas15 unkn ]tts apwopr&*to presume thattr* th•ritsble Conwny
wlll Continue in busine55

r.. 0674744
rtof
The trustees •re rt5ponslbk for keepln4 proper accouniiw record5 V4th1ch disdose wlth reawn•ble •ccuraGy at aAY tlm• finandal
Posit￿Tr of the c￿ritable company to enoble them to en$ure t￿t the fin•n¢lal ststements comply wlth the Companles Act 2006.
They•re a150 responslble forsafeguardln8the assets of thecharltable ￿M04￿Yand hence fortaklngrea50nables¢epsforthepreveni
and detertlon tsf fraud and other Irvegularltles.
lThso farasthe twst••s•r• aware'.-
Th•re15 relevant audSt Info￿atIon of*thlth the ¢h•rtt•blt comparfs audltors are ur4worq.' and
The tru#ees hov• tsken all steps that they ouiht tv have ta*en to rna*eihemsefvts •w•re of 4rry relevant •udlt thforniatlon
Ind to establlsh th•tth••uifltors are aware of that IAIoMl¥tlon.
Report of t￿ ¢ru￿tt$. In¢orpor•tlnq 8 strateglc report. •pprov•d by order ol the boord ol trujtees. is the cornpany dlr•¢M on
l.%fftl.:?*.......... •nd onih• bo•rd's behaltty
Mrs PJ Lowther. Twst

osFarm Do
We have athedthe nnandal staternents olGibles Farm Doty and C•t< Mome lthe'parentcharltsbletompvrfand ￿$ sub51dl8Fleslthe'arourf for
thewrended 31 Oecember2023 whlchcomprfse COns￿ld4¢¢d and portntcomparystatsmeiit 0lFthè￿alAtthtil￿1 rheconsdthtedand parent
p•Thy 8*nce 5heei the con%ltdated Cash Flow5tatement and nutes to the fln•ndal rt•temeTrt% IrKly¢ln8 I summary of Iccthintlni
pullcE2s. Il*flninc￿ItepUrtI￿ofv1Me¥1Q￿kth•th1s￿eeno￿1ed4nrheIrWepafat￿nI5Jpp￿cJb￿ I•w4ndUntted￿￿dtsmAtctsJMtlnB5tèndards[Un1led
KIn￿￿ Gqnerlw Ar￿pre￿A£￿)nllnSprX0rnl.
In ourownlrm theflDanclalsWem￿lk
G￿e a tr￿e and lalr of ihe state ol thp 8foLrfs and of the P&TeAt COM￿￿$ affiirs •$ 4t 31 Oecember 2025 ar￿ ol the irourfs
knc¢mln8rosour¢esaThdappkatlon ofrnsourto& lThctudkn8 the 8r¢up's Incom*and•yndlLure. forthe yearthen ended.,
Mi¥e be4nwwrfy pr¢pJr¢d In I￿r￿)n￿WIth￿nIt•d KlwdomG¢nirnllyktW¢dAttoufttkni pricti￿,1nd
Il•ve bèEnN6p•red lrnaccordaThEewllh there4ulrementsof theCompanle5 Act IOOS
•Pl￿on
We conducted ouv •udlt In ￿ordIn(e Intematlonil stsndards of Audttlnl IUKI IISAS IUKII gnd 4pplIub￿ I￿. Our ie5ponthlllle$ under those
rtandards ire further de5crlbed In theAlldllryS' rwpon51b11111fy5 for Itho ludli of the nnJKI?l $t8temeni% of our report. We are Independenr of
the 8fOUP and the wrent chaliti￿e tompany In aC￿rdance wlth theethlcal requlrementsthat are to ouraudlt of the Ilnanclal staternents In
the UL Inth1￿ th• FRCS Elhkjl si•Thdifd, and we hwefuiniied our othei responsibllrtios In att￿d1￿ce wlth tthe* we b•1
ewldènc• weh•￿0btI1n￿d11 sufficlent iThd4pwQpr￿lt1O pro%4d•• b1515 forourwhlon.
In a¥dltlnIthefiAMc￿Isi￿•MlTht￿w•h1Y•c0NtlUded t￿tth•truStet￿ uMolth¢Wniconc•in b•$1501•ccowtlnAln prep•r•ikJTholth•fiMnc￿I
5t•Lem•n15 ls•pprowlate.
Bis•donthfrworkweh•¥ep•rfc¢m•d,**h•¥enot •nymai•rfaltsne•rtitsTrtl•i r•Lqtln8toe*ntsorcondltknnsth•t, IndI￿￿￿11YOrC￿1•CI￿ety,
miy ust ￿en￿nt doubt on the ch•rIta￿e compamfi ttt ¢onthui •5 • wKern for 4 perbj of at le•# twelv• months from lh
fin•Thc+•l #aknnenis•r••uth(vlxd Iv159A.
ourrnWn￿b1l1￿1fv0 th•rwponlWllfl•i 01t￿tr￿1￿*￿lh rI￿rtta￿￿ con¢wn•M *bih•felewM ltttloniofthsj report.
Olh•rlAfomibtsts
Th• tN#Ms•re r•sponiW•lorth*oth•r lnlorm￿￿n. ￿t￿h￿l￿f#M￿lt1Qn wmprfMsth• lThlorrn•iion S￿l￿ded In th•AThnwl Aepoffj Ol1*t￿n th•
nTrPnd￿rt1IeMÈfjli l￿d￿rRe￿OI1h• Ind•p•nd•ntAudltvsth•r•on.
Ourcplnknn orttht flMn¢l•l $t41em￿lSdoe$ notto¥•rth• gthlrlnlorrn￿iQn •nd, •xcwtothe e*entoth*Th￿￿ •KplldltyA•t￿ In 0￿r rnport w• &)
rol•xpr•ssanylorrn of4$5ur4nc•con¢lu51on thefeon.
In connectlonwlth ouraudlt of theftn1￿l￿thiQrnertl, ouri•iponltyPltylsto r••d th•othtrlnfc4m•tlon Imd, Indolni ￿, conshl*r wh•thw tho other
lThformitlon ts materfalty In¢oThsistMi with the nn•rrtl•l rtètemethts or our k￿lIB• obtslned In the •udll ￿ otheThblie •pp*irs to be miterlioy
mtsrt•ted. If we hten¢ty Such m•terf•l Ineoniisttnti¢s or •pp•rwi m•t•rlal Mlsst•teMen￿ we ¥egulr*d to thiwmln¢ whether thls rlse to
ffl•[er￿I mIssW•￿￿t fin•n(￿l Imtements Ihemsth*i. ii. bD5tt1 OD the wort we ho￿ ptrrfomied. we i0￿Clude thai lh1￿ Is B moterl•l
Mhrt•t¢n￿ry¢Q1 thliotherlnforNUert w••r• tor•port I￿tI*d.weh*w•thJthlThI1¢ r•p¢yt Inthl$reyrd.
OpInl¢m￿ •DOilwmatt•N pMulbBd byth Comp•n￿￿￿1£1)S
lThourLyknkn, bJxd QThih•TWOrt undertakéfi Inthe tourse ofihe•udll.'
The Inl¢rmatk)N In th• Rwrt ol the Tiustees for thè fininthl yq•r for v4hl¢h ih fin•rthl tht•meffls •rn prepwed li con*t•ni vAth th•
ftMntl* #tat￿on￿. •nd
The Report oltMTrustee5 hys bE¢n svep•r•d In K￿rd￿nCe¥￿th rqwlrnnwnf5.
tt•rn•nwhltt*w•art tonport￿**<•Pl10rt
In theNft olihekno￿edV *)d ur¢dÈtstindln8ofthe8mup•nd parent tharIt*b￿coMpa￿¥￿nd th11•n￿r￿￿entobiè1nOj Ihthe courspof t￿4￿dtt,
we have not Idet)tin*d rniterlal Mlsrt￿eMÈN1s1n theAeportof Iho Tw51ee5.
Wehw• ftathlnito repjrtln r•S￿￿ofthe followln8NtteNYh1wetheCompi￿lSAtt20￿lgYUlr￿wIofep0ft10VaUl1. In d￿10P1r￿.'
Ado9UBtea¢Cwitln8￿cOrth not boen keptbythe P8￿nE¢0mplty or returni id*qu•t¢ loroura*lltts¥e not toen receh*d from branchF5
Of￿￿1&1 by￿,. or
The parent compAnyflnvd•l #•temertts*renat In•ireernentvllhth•8ttounth* record5and ietwn5.or
9rt8lndlxlosuresoftruste4<remunernNon sp#ified tyl￿aren01 rnzd•.'or
We ha*not rerqlved au lle InforrrAtknand eXpLina￿on$￿ requlrefor¢)ur•L¥I
io

47
Of¢(*￿p8NY ￿￿) areresponsth the wepwalkno1t￿f￿wx¢1stotern￿￿ts and It¥￿￿sa￿edtl&ltth￿8kna faIr%1￿*. and for
whethe¢duètofr3￿Jty￿ror.
tofraud arerrnr. aTh1101s9Je a Reportofits ￿￿￿￿tAL￿(￿stha1 ￿Jr￿L￿. atyJrJTrrelsa t￿*S￿ra￿
ota 8uarantetttr4taD iuthtccndtxted ll)ac¢tydance¥hth ISAsWKJ*iH ***5deEectamatubl misAatthmeMwP•i m15stat￿<•Tha￿sè
olus¢rs l*nty)the ￿￿ofth¥enn￿0lSiI1tr1￿
ure5 respM51¥e tothose aNI oirtaln au*tevld¥Keih•tts sunk￿1 appriyr*te toyo%*Se a bastsfottucWnknTh. Therisk
txrt MtforthE wrptye olewe&¥n8an theeflect￿rfIhee￿￿SOrthe prthidortt•E4e ¢omparf5 Internal Contr￿.
iheinJstee>
whethera matww untwt4ntyt¥JSts ￿ted toe¥Entsora*wHtknsthat Thwyra#wknnt¢*xth Lmthe ￿sCr thepartyircharllat4e
•udttrfs to the re￿ted d￿Ckn￿e5 kn ihe IkAThrial siat•i*rts ty. otsdD￿Jres Jre to fflodty our c•h)K)h. O
thewoLyofthe parent charttablec0mparytoceoewcwDvasaw￿eCQK
We¢emain
report ts dTrarrtat4e¢LNnp￿s *. Ir* (haptu3 01 Part 16 ol thEtunpan￿sA£I 2(￿. Our
a￿dI10￿5 report and ather purpw. To the 4*. ** do Trot •sxune re*Ththlity to ar￿￿￿Other than the
forrnod.
Foraffldc• bEhalfol￿Ornh￿d
Har5ccffjbe Hwt
i Dar*JakeV
Il.01.W

Irmrne E
31J125
31.11.21
fvnds
661.877
184.769
otherkncr￿ne
Ralln8 funds
ST￿5
43.947
11655531
Galnsltknsses) onv*abJakn offlxed assets
GaIn￿l￿$S¢¥ Mrtrfaknwtion offtsed
195.7161
144
l•JS.7441

Farm
num
Cha
202J
Group
Z021
Chjrty
2022
AXEDASSEfS
Tin8[ble•5￿$
i*%*stn%nt5
13
14
1*71.919
&671,949
1,662.836
1.661836
?11.604
17É0.118
176V18
CiIRRENT ASSUS
StttkJ
Debtors
I￿￿*M•n
C•sh It￿nk h•nd
Is
16
17
40.776
9,61S
257.189
In
895*$9
Injoi
171.802
177AOI
IAX017
630fi19
Arnountsfiiiiniduewtthl￿ M•y¥r
tiÈraiRIIENT A$5EIS
TOYALA51EfJiUSOJRAEIITUAO￿s
ND5
Unrestrthd lun
P•51rithd l¥nds
3318.014
3J18m4
ToTAlF￿05
Th•fl￿n(lI&stOt1rn•nU￿rl ifvyrwd bylh Bo•rd olyrnit￿•nd •¥thry151dlDrts5u¢on..
PJ Lr*thr.Tiuste•
CAxol￿n￿-7WStee
13

Farm
JLIL21
31.12.22
N0115
CaJhwwatEd fromopErtIo
Netushlu5ed In)Ip￿ded by opern￿￿11ctIAtle5
Purthaseof tan1lb￿f￿ed J55ets
DIWMI Offix￿O$Sel In¥es¢ment
ofturr¢nt•sxtIThv¢5tyn￿t¥
Iniw•sirK•
14S,7221
Isox
(97.6091
18911
N•ru5h In Ir•nI￿lIatttrl￿I0$
wii
1177,9121
olth• typDrtIN
Th•i•pqrtlryp*
14

3LJUJ
31.ILZ2
Iq0181
redatknn charles
ioMIIGalnl cn
Profitcfft th$P￿1￿111￿4 asse
irfwestre£eryed
DeCru￿(l￿re•se> kn 510(ks
Deuu5elll￿r?￿1￿Iets1als
IncreK•ln crethtors
.138
144.475
65)
14).441
114.1211
fj6.634
119A60
At Ll.lJ
C•5hFknv At 11.Il%•
•tt*th
sh•1
t5
Cwr•nr45At lThwJim•rfi
To111
The nDtesfofft p*rtoftfr**fin•Ythlsw•Mrtts
15

Thefimndal strtefflentsofthe dMrknb*cfrtnpw.**&15a mthbEnEIt atttyurKterFRS102. kn*been wepwed In4¢￿f￿nce￿th
thdrKcoLmS(nawdwKetA4th Ftha￿la1ft1VgfI￿sf￿ *ntlekn d*UK aNI Wublkof Iretsnd IFRS 102lleflecthY I
January 2019)". Fts4nthl ReportINSt*fvJ￿é 102 ￿f￿)￿laIN¢Xv￿5I1￿ *k•ble LIK￿0 Reprt4td Ird•rf and
the1￿￿ty1￿ r•ipeLt olu￿￿￿￿￿tel1INrn1IedtoÈlO perrntnkndthethty.Theadth5softhe reWrterEdcllke Is•l¥enon thE
Th• th•r1tywn#￿￿t4l • pub#ebenthtffi1tr15dEfh￿otsvF￿5 102. sw•Thkitshw b••n ￿p¥1¢ ￿1￿¢•n¢•￿I1h
¥Athth• FInar￿al Reportkn4Stsnthrd R•wthollr•WIF4S1021 I6J￿30141j$U￿lted thr
Upjatr lull•tkn I IFtlrt4ry201&
The nnincl•si•iemvitsconsol1d•itt￿1tSUI11Qll1w4WIYlr4 $thkl*G•ble5Fi￿ EntW1•sits￿lf•d￿• lth•.ty-
lrt¢thlwre5owr•s•r•ln£bthled kn theSt*•mtht•f toth *Krrfne•ftor
rforrnwbee tmdllltyy rn•L t¥*bÈmt4*knlrtht*•rnl R lswobwethitthe Intom•wUI be recth%d.
•ttKWtQt￿d￿tknlftd tNsraoulffw• C￿bE01￿1￿1dlhQn Inwne15 d•fwred uhtll thoye
lonsim lulfym1¢ori￿f￿ffie￿td1Ithetand#lO￿￿t￿ItN￿￿ffjr￿￿ltre (hv#Yv￿ nlsprotsblo ￿tth￿*1￿ b•luffUW.
Don•tedl•dlttl•s*ThJ servk*s*rÈTtttosod wher+thelretonomkbefiefit1s
rel1?b￿and th•(harKy￿%￿lrd ty•*rthtlttm. FikvaluFthdEfernl￿￿d f￿￿•4￿￿501 Il*v•lyeofthe tothe
thirmy. Ftymm*the*mountthod•*wKI b•t•¥topVk)t￿0P￿￿￿t1tf0r¥KfvI•r4I*s•* 5rt•kAci¥r•wndl
amDunt ￿r*￿InIS•￿ In
No*Muni hlrth*dJnthiffln•K4Iswr•Ksfty%￿￿x¢•1t1￿tkn￿e￿jlhtt￿sOAp1pft5 102k
Wher•w•¢t￿￿e, bU￿rIes￿l￿ thkn*r•h*hhl•d knstock ￿4{1￿1￿￿$1• i
stathrnerttsu￿￿W. It Is Imwxt***tOaS5ei%U*l4lrwlue* rerelw wWthecoststouthdert•ktyJch a valuitknn cutwd
rttabts exp•thure.
*sthat￿t￿f￿r¥aIwQ lJwxtk•ble upon rece*t bl sr¢<k¥* dona1kn￿ ofthEStackb5tharyd
Inst&￿1th w(￿￿9￿1• ffocwthed •sdoD•thxwhwe b5 InythNetola1r￿IUeiNry *emsth*tothe￿￿Jmeoll
16

- contlnu
rTheY
l Detem
ACCOU14MP4GPQUOES.¢ahtthulld
le83ry Income 1$re￿Ised as Sr￿ asthe￿￿ty1$0wIreOf th*•Thtltknrnenttothe W. lhpexevjtw1s￿ttsftEd thatthe propertv
11 ty)t be rtybredtQSalWythims Inthee5tateandtfvere15•ngccui•tee5tlmateQlthearn￿Ithat1￿Qth#￿tyWADtece1we.
Ir￿elloM tr￿￿￿1(￿￿11es lftci##eslntomEearnedfrom fvndral* eve*ts•ndtradSn8acY*tlestotstselvftdsforthocharfty.
Incr￿￿15 recd¥¢d In e¥chanyf0rsupp￿kn880¢OSand Se￿ces￿n DrdErtoi3ls¢fundsand lsreco8ntsed wheTh•itttlement h8$
Iiib*Strn¢ntl￿Ornel5 eamed thtyJBh ho￿hnl as5et5for Inve5tm*)t purwses$utha55hare5and rwrtv.1tthdude5dl￿de
interestand ren￿Whe￿Is{S notWaCtka￿e to kjertllylnvestment m3nagementCOStslttcurned wlthkn a 5cherne wtth re￿￿8￿
a¢pJraryihe Inve#n￿t￿(omets reported rnet ofthesewA> It15 Includedwhen the amLHJntcan bp moasure0rf￿wY.lnterest
Irrttyne15 reco8nlsed usth8th¢thec¥¥elnterertmethod4nd dh*lEnd rentthcom¢15 rewntsedasthechwsrtyhltoty￿￿*
paYn￿￿tI$ eAablished.
Irthpin8festyJrwfroMirant* Includ1￿8￿*￿￿*￿t0ra￿thtsfOre4ledtOperfomlsThtt S￿¢mCd￿lIe￿￿e&lreIU0￿nied
fOr￿th¢d13￿ty¢0rns ￿ rwrtocon4derntion bylt$perfcrmance.Other8r3n￿￿￿EreentIt1￿entLSn0tCoftrt￿tQna1 onts
dellyeryofa 5pednc Ferfomiwee th8rfty. are recryn¢sedwhenthe tharftybecome5 u￿OndItIOnal￿entll￿dttsthesrant.
WhEre Ipp1(ab￿￿t15r2¢O￿1SedaSyants1¢feffe0.
Eyndiiwre
expEndlture15aEcounted IoTon anaccr￿al$ts3$lS been claslfled underheathn¥thatagyeÉateèlleost relatedtothe
category. Expenditwe Ls recoBn&d wheiethere is • ￿Bil Orior￿rU[t1Ye obll83tlon to rn3kepaywontstothlrd pirtie5. It l$proba￿e
th3tthe5ettkn¢rf ￿lIbe[eQuIred ￿th0•mOUnt￿lheWIk)ntsn bemeasvtsj reii•btr¥. Itisotwsed under¢hefollo*kn8
l*adin
-Ca#s0fTèW￿fulth LnC￿e5?11dlr￿fyasSodatQdexp￿¢llUreSetouE Innote6:
- Expendttureon ch3rftable•￿¥l1I¢5 Incl￿$411 costsfelated to lthefyrtheranceof IhechadtkSo4ecd¥￿'9nd
-Othef expendlture rewesentsthoseltems notfall￿1 lntothe¢•te80r￿sats0ve
Irr￿￿￿bIevAT ischb￿ed1sèn exFensea8alThsttheactWforwhlchexpethJhurearo
Supportcosts alto(at
Surg)rt¢ostsare ihOset￿taS5IrtlheWtykoftheCh￿￿tyvId0 notd1￿￿y￿￿eSeNIthafrtèb￿ac0u1ts¢$è￿l Inckrtle ollkecost4
8ovelnancecost4admlnLwJt￿e paymll costs.Theyare Inc￿rred d￿eLt￿l￿5￿p￿NtofexpenthIUreO￿ theoblectsof the charttyand
tludeprts￿ marthiemenicamed0￿ at Headou•rterk Wheresupwjrt costscannot bethrectl¥attrfbuted to pattscularheadlngs
thtykn￿￿een al￿ated to C05tof rn151n8fundsand ￿pend￿￿r￿orItharftab￿ advlde50n a ba515conslrteniwlth use of ¢
re50wce5. Prtfflis*soverl*ad$ ha¥e be￿ thsertdetall basisandothertrrtthead$h￿ been allrxatedonan Insert
deiallbasts. Theanal>stsoFthesew5ts1slndthtod In no*&
Tawblefixed assetsexcludingtsnd b￿k1￿1$0￿ 5tatedatCOSl le￿4¢•Jm￿tsEQd dePreCWIE•b#nda￿rnuLlMd Impalrwi
105ses. Costslndude5 COStsd*e£tlyattrfbutab￿to makJn8thea5setcapableof OPEratlnBa5 Inttndè
In tythrtothLwatrueèndfalr￿ewthetrnStetS hAvedecldod thlsyeirw revalue land aThd bulh4lnqssothat dyareAared at mgrket
value.
epreclatlon i$pm¥idedon ￿ t*8iblefrAedassot¥ atr4testalcuthd towrtteof the cosL ￿estIMated￿￿du8lVa1ue,OfeèCha$Set
Ona 5VStematlc basi%ow*sexpe¢ted usel￿1 Itfe a% follows..
FreeMt1 Wldlr4s-or*lnal
Freehold b￿rdl￿-a￿d1tlons
Freehold bthldln8s-cabln
COmpJtertq￿1pMertt
l otherpla￿tand equlpn*
Mrtu¥ehWes
2XStraI￿ Ilne
2X*falght Ilne
IO%straWht VnE
3￿C•n￿tr￿k￿a1ufft
IO%ofnet bockvalue
I￿arneth0Ok¥aIue
InVestyn￿l$a￿a fomiof bè*c fin￿￿è1 I￿￿Mentand are Intt&ltyrecoB￿ aithelrtTrn$3Cllon¥al¥e 5ubsequenlty￿osurtd
aithdrfalrvaluea5atthe balanceshEetdateusln8thedolniqwted ma￿￿et￿Ice.&lcept1Orthe$hares In ihetiadlw sUb￿d￿lry
¢hare(aFrWatcost.Thestai•iient¢tfinaKkl Inclthlhe net8*Th54nd los%e$4rIsl￿gon repluatkinand dbF475315
throughoutthei*ar.
The rthsfr*mi p*rtdthÈsÈ flnantlal statements
17

FaA
stst
ted asthedt1fe￿￿bet￿*w sths woteeds¥￿l￿ope￿**o1￿￿￿WtyY*WTCknIseva1utlI1tw1￿dsub$¢I￿rf io
theflrstthofthe nm*KW￿. UTrwe•lsed ￿1n$￿* k&s•sar•gbDJat•d asthedlflerenceb&weenthe falrdue4ttheyearend
Stoth irtstthd it the￿waIt0￿t indes¥m*ted bsto#stotthxplete*nd seLC4Xt Indudesilcosts olwthaM&
¢OMsoltow￿￿ otP•to#slrthrw*l h brthy44Jtttk tolti •nd(ty￿￿co￿I$r￿Jjl•Ied u5knithe nr5r4
tssh •t bank ind *Khth+3¥h•nd h¥* I*￿11n¥￿Ilm￿tA*h￿ rMiwityolthr•• montrJorl•
Thechirfr¢ 3rfts*ChJrllu*411011 ¥K115w¥bJ•r•dw p￿5%￿ I•MMI
rpo
Dthors*xlcrediwiwllhno #Jted Intertrtrfeind ry*yw•r• rwdvJ•tv•nMaityi ylc&
A%5•ts￿ wsured •t f•Irv*1￿ ar•rw*hw¢d th• •$￿ ff•y belAy*ed It exh bI￿nte shtÈttht*. Ilwjth
atknexL%t4 I￿￿{￿￿￿1t￿lI￿tl￿fht1Srt ort￿￿seeSttth be511wied •ndcwfip•red to t4rfy*
t*rrl•d at i iTh*r4TA**tt￿ rwAhJatb>i deue•se.

to
31
31.12.22
258.4US
10151S
*•nts
31.12.22
.iU2
51.181
19.781
*753
12mB
Oo¥dln8lrK
W17
31a222
39.(M6
31.12.22
25.338

JL12J3
31.12.21
JIJ
25.7EQ
11,251
4.261
916
l)thef r•llw¢osts
2022
554,331
3.803
5.943
953
lQ6,961
4,698
31,201
1524
6,9?9
S.S83
25.821
74.701
26.781
11.102
11.515
13
34S69
iLS,395
61613
¢341
43.979
5.617
312
S,432
Rep•lr$4nd ItMVAIs
510
L4ht indl
Insurnnc•
XI.6Z8
Ily7
19,469
210
28,138
Olherolr•rtcosts
17•J
Supportcoitlrt&ll￿I*)n

Detem
QWR EXPEWDmiREANDSLWPOftTeosT5
Supporttojts
2012
Sal•r￿andwI8es
43M4
4A07
Jso
1747
TeleplYaTr•
PrlnriTr& ws1•8& St•tkntryand
sub￿￿P1k0￿S,1l<eTr￿Slfvd0UbIl(4¢lpThI
148lènd profes51onal
nk Inteiest •Trdch•r
Audltf•¢s
Acco￿nIenc¥
B￿kkeepIn0
her idmlnlstr41fve eKpen*s
SupwrtC05ts reall¢titknn-Thlsln¥lvnd$4.3%120222.2%
SwwrteoJtsrull¢utb)n-thifI14tye•th￿r*SS.7%1x*2l57.8x}
2,301
5,812
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14.Sts)
IL7591
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IIETINCthMElltxpeNDIWREI
FttthK(￿l1*￿ndb¢v1•1 li ststsd •1i•rch418kn￿¢cr•d1¢￿)'.
31.12.22
Al¥1￿ l••s
Deprecl•ik)n-v*ned•uets
15350
6￿00
TRUSTeU'AIMU141kAIION AND ieNEFITS
TherÈ**re ftotruit•e¥ i•muner•ik)nortAtr*b*Wl￿Ilolth¢¥Mr1rtd1d 31 Dtt•mbv 2023 ntsrlort￿￿¥lThdtt13l DK•rnbw
1022.
There ww• notru5t••¥' eKp•n$45p•ld fortM¥e•rend•d 31 ritt•mb•r2O23n￿I0rlh1¥urQndld YI Q4C•rnt•r2022.
U. WAFFCOSTS
2022
Salarles
Emplryers IN￿rINce
EM￿ry•rs pllnskn¢OntrfbJt￿nl
654J70
55361
552,574
,766
Th•pen51on corNnltrr*nt•5al 31 OKernber2O13￿sEnI1201zEnIl. Ploemplo¥44 e8rDqd￿rtt￿n EfyICb>).
Av4Try•mp1o￿$tstbIY8arylls 1812011.. 281
The notes fomi p•rt of these finaKl•l Matements
21

11 ￿￿tA￿￿VIsIOn￿SYAIImE￿T0FFl1IAI1rl1lAc1mllEs
Fund5
F¥nd5
INCIWEAWDENfowMEIITS Fllam
6fj1,877
2S690
21698
Othertradlns4cth4t
41441
17L625
4L419
911792
Inifunds
41947
44947
th•rftiM•AciMI•J
11477
IOJ439B
11712451
12,192
1165.$511
(917161
14•1Mty•*Mntslnluv
14W4361
11,691
140x744
TOTAIuNfAW￿1DlO￿1A1D
Thtmot*sbrni partoltheseftnandal statements
22

IL TAt4GIILE FLW>*S￿Ts
Thvfjroup4ndthe(h•rflv
iandar
Pljntind
Trrt41
COSTORVAWAIION
At Iknu4ry 1023
Add￿onI
690.tyyj
¥>
4%YU
At310e¢ernb¥2Q23
AllJiny4ry1013
Ch*rBiforwr
Ic•
2W7
Al JI De¢•mbqr2023
55Jll
NFfwKIvAiUI
JI Dqc*ntsir2023
Asjl p•¢thmty¥￿I
14nd irdbullolw*w•M¥4￿4 M•1 JI Uqc4fflber2011 to£l.65ffllNlwbvlk•trv¥iqis.Th15￿stsn*1{￿1 pths￿nI1¥￿1l￿fj
Jion31Mii(h 1012 of El.65rnllllon byStr4tt0n£r•b•tC4rnm•io•1,•nlThlwthtv•bJer. Ifth•landmdWldrpyW
ie¥ityJed th•c4rrylNiMwrtA￿Uldh￿fy1ln£￿2￿)6.
14 FklEDASIETLVnJ7MINT
ThoGroup4ndth•thirfty
I￿￿ET¥All0
Ati j•n￿¥¥202j
Mob*M•iithrnwk•¢v•lu
At310•cernbw2015
NITIOOXVAUII
•J JI C￿eMber1013
Al 31 Qtt¢m*v2022
STO
Gffoup
Charlty
ILX121 31.IIZ2
Jl.11.22
X9J
9,615
Goods heldfoifemle
Th¢ not•sftym pjrtof theseflnancl* #aien*nts
23

Notes tothe Fln
1st
16. DE•TOR$:AMOVNTSF￿l￿fj DUEwmiiN ONEYfAR
Chirliy
Jl.11.2J
Chorttv
31.12.21
31.12.22
Leydes
oth£rdebtwar¢d pr4pJymqNs
T1XR•￿èI•b
VAT
775
?IAOI
127A22
48,323
13.4fy)
Y73J44
Y902S
7JOO
127,422
101.854
13.40)
17. OJRWASSEfiNVE5TMElIts
ar•¥p
Ch•rty
31.12.22
31.12.22
B•nkeonds
. QIEDITOR5:AMOUNT$FAUIN6 DUEWIThIN ONEYEA
Gr
31.12.22
Chirlty
.11.23
Chlrtty
31.11.22
.11.
#l swlty•nd othwt4x•s
Cr•dii¢fs
Otw trediiors
9.203
60,634
9.103
S&flJ3
45M9
. wr4q AqftEEMENTS
Th• Gr•up•ndiheCh•diV
Mlnlmum ￿$t paym*nisunth¥non.uncdL4bleoper•Uni *ii•i IBlldw•i follow
ii.ia.
31,12.12
withlTroTre¥
Wlthln twtstofth y••rs
Aft•rfl¥•y••rs
31.515
32.742
The notes foym partafthESefft￿fidèl 5tatqments
24

PAI>VTMEFifiFIiuNDS
7he&oup
mo￿￿e￿Il
At 1.1.23
fvndj
rltheralfvnd
JJXW4
CDttery4pp￿I
p*wJrt• Effltknryfjrint
TOTAilUlmS
roml
rqywrE
Rowuic
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Gtr•t•lfvnd
yAnndIpp￿ls
C4ttery4ppe41
nt*1h￿￿nI
vrt•1￿ Appel
sr¥JK• EfficlThfy4ni
ioj
P.M2J
1103MJ
io)
TOTALFVNDS
Tr4nif•
At
3L12.2t
Geneltlfvnd
O•W•t•4 fvndi
41u4IrAry
lJ21720)
21411 3.171,$74
3.707,IOZ
1418A361
29MI8
3,318M4
Kennd èppea
ippe•L4
u.n6
510
15.692
129Jll)
510
TheTr)te51orffl partofthe5efinl￿aI statements

nds
ILJ943411
¢321.7201
87WJ
14n6I 1418.4361
n•
Jrdl Ta
AtLL22
11.12.23
I794￿2
4707.
29JI8 JWq911
L•yJ
sio
isi

¢U•.995)
17JlJ2
17,OY2
15
ler4FV
Y7J
TL￿￿ Fur

ThEChirfty
31.1212
T(*al
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DJn•lo75andl¥xlE5
WV42
722.611
thwtt•bleartMtk5
2S69B
X517
J6,8)5
InvesbhÈntkn¢w¢
OtherlrtCLth¢
41*5
S64J17 20J56 458527J
815,S92
JSM5
.142
&X17.77J
973,1￿3
Total
1165S531
Otherré•&dylmllkThes1
$5e5lonre¥aluattonof assets
revdluafjon of ftKedasSetthvèstsm￿tr
1917161
S217JB
140x7441
17
7h¢•x•wm¢thfuredtys4c6oft￿cW1n￿sfvAlICQ6i5b￿rrfr￿￿d
The row5 lorffl partoftheSeft￿nclat￿alemeDrs

JL1222
147JJS
164.9211
Cthai bjrth
IL161
471
1,93$
i.oji
66.471

3LII.11
402,SiS
fjr4nts
66￿71
￿(￿1￿p5￿
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51.181
19.781
91753
12,078
19.9
lThyuvknctwrn15thn indotherlntorn•
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13,$17
¥thnd-tyul￿1I
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38.jgj
39,016
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1%699
912.791
IX•INDmiRi
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S41
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iijsi
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nEdmitknfees
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916
67
4)J•?
Irh*Mrnentrnan4l•MenttiNII
wi
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s¢*ll*rtd¥duniqqrwdl•re
fooJ•ndweif4rt
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SS4JJl
62.613
737￿)?
Thèttotestom) partof the*Ilnafitlalthtem￿ts

737
&341
41919
tor4nd tra4*10Xp￿ls
RepalM4nd rerthv4k
rrcosts
All￿ wMcwNyar*e4￿prW¢ Nr•
TÈltohon*
312
431
11,166
ahtand h¢4t
li
74701
22,809
IL547
69
210
.1
3.337
L701
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