THE CLAUDE BALLARD SOUTHALL MEMORIAL CHARITY
Registered Charity Number: 1128456
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENT
YEAR ENDED 5 APRIL 2024
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 ILX

The Claude Ballard Southall Memorial Charity
Index to the Financial Statements
Year ended 5 April 2024
Contents
Page
Reference and Administrative Information
Trustees, Annual Report
Statement of Financial Activities
Balance Sheet
Notes tc the Accounts
10-12
Independent Examiners Report
13-14

The Claude Ballard Southall Memorial Charity
Reference and Administrative Information
Year ended 5 April 2024
Governing Documents
The Charity is governed by a Declaration of Trust dated
12 February 2009.
The Charity is registered with the Charity Commission
under registered charity number is l 128456.
Trustees
Mr John Bruce Rostron (Chairman)
Mr David John Nightingale
Mrs Dorothy Smith
Mrs Julia Annette Savage (appointed 4 December 2023)
Secretary
Ms Kirsty McEwen
Solicitors
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DYS ILX
Investment Managers
Mr M Neale
Vertis Private Wealth Management Limited
Campion House
Green Street
Kidderminster
DYIO IJL
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4TA
Accountants
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 ILX
Independent Examiner
Chu rchill Taxation
835 Birmingham New Road
Tipton
DY4 8AS

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 April 2024
Report of the Trustees for the Year Ended 5 April 2024
The Trustees present their annual report and financial statements of the Charity for the year
ended 5 April 2024. The financial statements have been prepared in accordance with the
accounting policies set out in the accounts and comply with the Charity's governing
document, the Charities Act 2011 and the Statement of Recommended Practice applicable to
the charities preparing their accounts with the Financial Reporti ng Standard applicable on I
January 2019.
Structure, Governance and Management
The Charity was registered with the Charity Commission on 6 March 2009 under registered
charity number 1128456, and is constituted by a Declaration of Trust dated 12 February
2009 I'the Governing Document,).
The Charity was established in memory of Claude Ballard Southall who lived in Stourton,
near Stourbridge, South Stafford5hire, and died in 1994. The Charity does not actively
fundraise and seeks to continue the charitable work desired by the Settlor through the
careful stewardship of its existing resources.
New trustees rnay be appointed at any time and followlng the death of the Settlor, the power
of appointment shall be vested in the Trustees. The Governing Document provides for a
minimum of three Trustees and provides for no maximum.
The Trustees must hold two meetings each year. The quorum at any meeting is two Trustees.
At the Trustees, meeting, the Trustees agree the broad strategy and areas of activities for
the Charity, including consideration of grant making, investment policy, level of reserves and
risk management.
The day to day administration of grants and the proce55ing and handllng of applications prior
to consideration by the Trustees is delegated to the Secretary. The Secretary will consider
the monitoring information concerni ng the performance of grants to date and make
recommendations to the Trustees concerning the extension, cessation or suspension of
existing grant approvals.
The Trustees would take account of the recommendations of the ICSA best practice guide
'Recruitment, Appointment and Induction of Charity Trustees, should the need to recruit new
Trustees arise. The Trustees would look to recruit in light of an appropriate skills audit of the
current Board and taking into account the experience, expertise and diversity of the current
Board, as well as their knowledge of the Charity's area of benefit and beneficial class.
New Trustees may be sought by open advertisement or through a dialogue with major grant
recipients and local community groups respecting the ethos of the Charity to continue the
charitable work intended by the Settlor, the Trustees actively seek those with a knowledge of
the local area when considering any prospective candidate. The ultimate decision on
selection is a matter for the Trustees.
On appointment new Trustees sign a Trustee Declaration and Undertaking committing them
to the giving of their time and expertise. It a150 confirms their ability to act in the role of
Trustees. The induction process has been changed to follow the ICSA good practice guide
with a formal indLJCtion programme for any newly appointed trustee being led by the
Secretaryi to include an initial meeting with the Chair, followed by a series of short meetings
with the Secretary on investments, the g rant making process, power and responsibilities of
the trustee board and the sub committees.

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 April 2024
The welcome pack includes, amongst other i nformation and guidance, a brief history of the
Charity, copy trustee board and sub committee minutes, a copy of the last three years of
annual reports and accounts, a copy of the Governing Document and a copy of the Charity
Commission's guidance 'The Essential Trustee: What You Need lo Know, and 'Charities and
Public Benefit,.
The Trustees intend in the u pcoming year, with the support of the Secretary, to developing a
code of conduct for Trustees i ncluding formal statements of roles and responsibilities and to
undertake work on the Charity Governance Code.
All Trustees give of their time freely and no Trustee remuneration was paid in the year.
Trustees are entitled to claim reasonable out of pocket expenses and where they do those
are noted in the accounts.
Trustees are required to disclose annually (and as they arise) any potential interests which
might conflict and register them with the Secretary and in accordance with the Charity's
written conflicts of interest policy.
Legacy
The Charity received a legacy from the estate of Margaret Joyce Coles, the Settlor of the
Charity, to be applied for the or)going ad ministration of the Charity and to continue to award
grants to beneficiaries for many years. The Trustees wish to record their thanks for Margaret
Cole's invaluable, unwaivering, and positive contribution to the Charity during her Ilfetime.
Risk Management
The Trustees have considered the major risks to which the Charity is exposed and have
reviewed those risks and established systems and procedures to manage those risks.
The major financial risk is the variability of Investment returns on the portfolio and its impact
on income levels and capital growth. The Trustees have actively sought to manage this risk
by appointing Mitchell Neale of Vertis Private Wealth Management Limited as Advisory
Investment Manager of the investment portfolio. His role is to monitor the performance of
the portfolio and to provide his advice to the Trustees on the best course of action.
The major operational risk is the extent to whlch grants awarded to individuals and
charitable or not for profit organisations advances the objects of the Charity and demonstrate
sufficient public benefit. The Charity has managed its risk by retaining Trustees of sufficient
expertise and experience, and through the quality of the institutions and the people who they
support. In addition, the Trustees rely on the Clerk to u ndertake appropriate and
proportionate due diligence on applications and ensure all grant givi ng retains a focus on the
public benefit.
The major regulatory impact of the Common Reporting Standard ('the CRS,), on the
operation of the Charity. CRS is being an international tax transparency regime airned at
preventing tax evasion. CRS came into force from l January 2016 and the Charity is now
requi red to provide information about their beneficiaries, tax residency status to HMRC, who
will then share this information with the appropriate tax authority in other jurisdictions.
The Charity IS subject to this reg i me because it relies on investments for more than 500/0 of
its income and those investments are professionally managed by a financial institution under
discretionary mandate. This means the Trustees are requ ired to carry out due di l igence to
establish a tax residency status of all beneficiaries, keep records of efforts to comply with the
regime, register with HM RC as a financial institution ("Financial Institution") if they have
reporting requirements and report to HMRC if required.

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 April 2024
The grant application process is reviewed annually and the grant application form expanded
to collect the necessary due diligence information that is required in order to establish tax
residency status of all grant recipients, both individuals and charity and not for profit
organisations. This includes additional information including tax resident jurisdiction, tax
identification number {for individuals) and entity status (for organisations). The Trustees will
keep this under review.
Objects and Activities for the Public Benefit
The objects of the Charity are to "to make grants to individuals and organisations for the
benefit of such exclusively charitable objects and purposes in the City of Liverpool and the
Metropolitan Borough of Wirral as the trustees in their discretion think fit
The Trustees confirm that they have referred to the guidance contained in the Charity
Commission's general guidance on pu bl ic benefit when reviewing the Charity's aims and
objectives and in planning future activities and setting the grant making policy for the year.
The objects and activities of the Charity are largely determined by the provisions of the
Governing Document, and from there the Trustees exercise a discretion in considering how
best to meet the public benefit test and ensure that as many charitable and not for profit
organi5ations (for exclusively charitable purposes) benefit.
The Charity carries out these objects by providing grants to charitable or not for profit
organisations (for exclusively charitable purpose5) within the area of benefit.
By focusing on these areas, the Charity achieves its strategic priorities of maintaining a
stable grant making programme.
Grant Making Policy
The Trustees have the power to spend the income and capital in furtherance of the objects.
The Charity ha5 established its grant making policy to achieve its objects for the public
benefit, to improve the lives of individuals and to support charitable and not for profit
organisations operating within the geog raphical area of benefit which the Trustees have
established and which they review on an annual basis. The Trustees review the grant
making policy annually to ensu re it reflects the Charity's objects and thereby advances public
benefit.
The Charity's beneficiaries are charitable or not for profit organisations operating within the
City of Liverpool and the Metropolitan Borough of Wirral, all of whom must demonstrate that
the activities they undertake advances the public benefit. The Charity also provides some
5UPPOrt to statutory bodies directly or i ndirectly for projects for which a statutory body has
no available statutory funding. The Trustees preference is for the enhancement of services
rather than for provision of what they consider to be basic needs. Before making grants to
statutory bodies, the Charity obtains written confirmation from the statutory body that no
pu blic funding is available towards the need for which an application has been made.
The general policy of the Trustees is not to give retrospective grants and the Trustees will
only consider one application per year from any applicant.

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 April 2024
Grant Maklng Procedure
Applications can only be considered if they are on the Charity's standard application form.
The application form must be completed and returned (together with a copy of any
supporting information relevant to the application) to the Secretary.
The Trustees meet two times a year to consider applications.
It is the policy of the Trustees is to consider grants on an equal opportunities basis,
regardless of gender, religion and ethnic background.
Monitoring and Achievement
The Trustees have continued with an aspiration to seek a reasonable return over a long term.
While the value of the portfolio has decreased over the financial year it Is considered that the
long-term objectives remain obtainable.
During the year the performance of the prinicpal investment portfolio was managed by Vertis
Private Wealth Management Limited and wa5 considered 5atlsfactory with all benchmarks
being largely achieved.
Grants awarded during the period are listed on page 10 in the accounts.
Financial Review
The Charity's work is entirely reliant on capital growth wilhin the portfolio, rather than
income from investment returns. As at 5 April 2024, the value of the capital fund stood at
£1,185,478.58 (2023., £827,995,29).
Investment Policy and Performance
The investment powers of the Trustees are wide. The Trustees have an absolute discretion in
this regard and are treated as the absolute owners beneficially entitled.
The princi pal i nvestment holdings of the Charity comprise funds and portfolios of quoted
securities. As at 5 April 2024, the value represented IOOQ/o of the Charity's investments.
The management of the portfolio is undertaken on an advisory basis by Vertis Private Wealth
Management Limited and the written investment policy is reviewed on at least an annual
basis by the Secretary i n conjunction with the investment managers and ultimately approved
by the Trustees.
At the year end, the Trustees held cash on deposit with CAF Bank of £21,710.14 (2023..
£7,872).
Reserves Policy
The whole of the Charity's capital is expendable and this disti nction between capital and
income is not relevant. The Trustees appreciate that the general principles of charity law
require Trustees to spend their income within a reasonable period of receipt.
The Trustees have set and agreed a policy which broadly identifies the framework withln
which the Charity will operate its reserves. The intention is that the Charity will retain an
appropriate and reasonable level of reserves whilst concurrently ensuring that it uses the
income i n a manner that is within the objects at the best interests of the Charity and its
beneficiaries.

The Claude Ballard Southall Memorial Charity
Trustees. Annual Report
Year ended 5 April 2024
Since the Charity relies on capital growth to fund it's acitivites, the Trustees are mindful that
the source of capital funds can be volatile and subject to sudden changes in the market.
They are concerned that in any year there is a risk that they cannot meet their ongoing
administration and professional expense commitment5 as and when they arise, due to any
fluctuations in the market which may prevent or significantly reduce income.
The Trustees have therefore considered, in conjunction with the professional advisers, the
level of reserves to retain from surplus unrestricted funds. They have decided to build up a
pot of reserves equivalent to one year's administrative and professional expenses but
excluding grant commitments. This will ensure that should there be any fluctuations in the
market which reduce the income available for distribution, the Charity can use its reserves to
continue to meet its obligations and liabilities as and when they fall due.
Plan for Future Periods
The Trustees bel ieve their grants have translated into significant publ ic benefit. The Charity
is a lasting testimony to the generosity and charitable concerns of the Settlor. In cementing
the arrangements already in place, and continuing with its current activities as set out in this
report, so that the many and varied charitable and not for profit organisations, and
individuals may continue to benefit in real terms from its financial support, the Charity aims
to provide a longer term commitment and thereby encourage and support individuals and
charitable and not for profit organisation5 Wlthin the area of benefit.
The intention is to continue a programme of grant giving which will translate into significant
public benefit. The Trustees will focus on those organisations which would benefit in real
terms (impact) from its financial support, thus providing and ensuring a longer-term
commitment to support.
Trustees, Responsibilities in Relation to the Financial Statements
The Trustees are responsible for preparing the Trustees, Report and the financial statements
i n accordance with applicable law and regulations and United Kingdom Accounting
Standard5. The law applicable to charities in England and Wales requires the Trustees to
g ive a true and fair view of the state of affairs of the Charity and of the incoming resources
and application of resources, i nclud i ng income and expenditure of the Charity for that period.
In preparing these financial statements, the Truslees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP;
make judgements and estimates that are reasonable and prudent:
state whether applicable accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements. and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Charity will contlnue In operation.
The Trustees are responslble for keeping adequate accounting records that are sufficient to
show and explain the Charity's transactions and disclose with reasonable accuracy at any
time the financial position of the Cha rity and enable them to ensure that the financial
statements comply with the Charities Act 20 11, the Charity (Accounts and Reports)
Regulations 2008 and the Governing Document.
They are also responsible for safeguarding the assets of the Charity and hence for taking
reasonable steps for the prevention and detection of fraud and any other irregularities. The
Trustees are responsible for the mai ntenance and integrity of the Charity arid financial
information included on the Charity's website.

The Claude Ballard Southall Memorial Charity
Trustees. Annual Report
Year ended 5 April 2024
Approved by the Trustees and signed on their behalf by:
John Bruce Rostron
Chair of Trustees

The Claude Ballard Southall Memorial Charity
Statement of Financial Activities
Year ended 5 April 2024
Notes
Unrestricted
Funds
Total Funds
2024
2023
Income resources:
Legacy received
Income resources fmm
generated funds
Vertis rebate
585,000.00
585,000.00
10,968.07
1 607.19
10,968.07
1 607.19
15,656.80
817.21
Total incoming resources
597,575.26
597,575.26
16,474.01
Resource5 expended:
Cost of generatlng funds
Charitable activities
Adjustment to last year's donations
Cost of grant making
14,358.43
57,979.58
14,358.43
57,979.58
8.235.48
33,058.80
i 000.00
42,294.28
72,338.01
72,338.01
Governance costs
15 562.35
15 562.35
13 888.70
Total resources expended
87,900.36
87,900.36
56,182.98
Net (OLJtgolng)lincoming
resources before other
recognised gains and losses
Realised gains/(losses) on
investment assets
509,674.90
509,674.90
(39,708.97)
12,476.07)
(2,476.07)
99,989.60
Unrealised galns/(losses) on
investment assets
(135,877.65)
(135,877.65)
(96,821.81)
Net movement in funds
Reconciliation of funds
Total funds brought forward
835 892.54
835 892.54
872 433.72
Total lunds carried forward
1 207 213.72
1 207 213.72
835 892.54

The Claude Ballard Southall Memorial Charity
Balance sheet
Year ended 5 April 2024
Notes
Unrestricted
Funds
Total Funds
2024
2023
Fixed Assets
Investments
1 185 478.58
1 185 478.58
827 995.29
Total Fixetl Assets
1,185,478.58
1,185,478.58
827,995.29
Current Assets
Cash with investment managers
Cash with bank
Debtors
21,710.14
25.00
21,710.14
25.00
7,872.25
25.00
Total current assets
21 735.14
21 735.14
7 897.25
Liabilities
Creditors falling due within one
year
Net current assets
21 735.14
21 735.14
7 897.25
Total assets less current liabilities
1,207,213.72
1,207,213.72
835,892.54
Creditors falling due after
more than one year
Net assets
1 207 213.72
1 207 213.72
835 892.54
The funds of the Charity
Unrestritted income funds
1 207 213.72
1 207 213.72
835 892.54
Total Charity funds
1 207 213.72
1 207 213.72
835 892.54
The notes on pages 10 to 12 form a part of these accounts.
Approved by the Trustees and signed on their behalf by:
John Bruce Rostron
Chair of Trustees

The Claude Ballard Southall Memorial Charity
Notes to the accounts
Year ended 5 April 2024
l. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historic cost convention, with the exception
that investments are Included at market value. The ffinancial statements have been prepared in
accordance with the Statement of Recommended Prattice.. Accounting and Reporting by Charities
{FRSEE) issued in January 2015 and applicable UK Accounting Standards and the Charities Act
2011.
(bl Funds structure
The charity has one fund, an unrestricted income fund. This is a fund which the trustees are free to
use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated
funds where the trustees, at their discretion, have created a fund for a specific purpose.
(c) Incoming resources
All incoming resource5 are recognised once the charity has entitlement to the resources, it 15
certain that the resources will be received and the monetary value of incoming resources can be
measured with sufficient reliability.
(d) Resources expended
Liabilities are recognised as resource5 expended as soon as there is a legal or coristrurtive
obligation committing the charity to the expenditure. All expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the
category.
Grants payable are payments made to charitable organisations in the furtherance of the charitable
objectives of the Charity. Single or multi-year grants are accounted for when either the recipient
has a reasonable expertation that they will receive a grant and the trustees have agreed to pay the
grant without condition, or the recipient has a reasonable expectation that they will receive a grant
and any conditlon attaching to the grant is outside the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncert3inty about either the timing of the grant or the amount of the grant
payable.
(e) Costs of generating funds
The costs of generating funds consists of investment management fees, legal fees, accountancy
fee5 and other governance and regulatory fees.
(Q Charitable activities
The costs of charitable artivities include grants made.
(g) Governance costs
Governance costs Comprise all costs involving the public accountability of the charity and its
compliance with regulation and good practice. These costs include cost5 related to the preparation
of the accounts, the independent examination fee and legal fees.
(h) Fixed asset investment
Investments are stated at market value as at the balance sheet date. The statement of financial
activities includes the net gain and losses arising on revaluation and dlsposals throughout the year.
(il Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains
and losse5 On investments are calculated as the difference between sales proceeds and opening
market value {purchase date if later). Unrealised gains and losses are calculated as the difference
between and market value at the year end and opening market value (or purchase date if later).
Realised and unrealised gains are not Separated in the Statement of Financial Activities.
io

The Claude Ballard Southall Memorial Charity
Notes to the accounts
Year ended 5 April 2024
ts.) Contingent liabilities and provisions
In accordance with the SORP, a contingent liability is disclosed for those grants, which do not
represent liabilitie5, where the possible obligation, which arises from past events, will only be
confirmed by the occurrence of Dne or more uncertain future events not wholly within the trustees,
control. Provisions are recognised for those grants where there is uncertainty as to the timing or
amount, and any uncertainty regarding the amount is more than one of determining a basis for
reasonable estimatlon of the liabllity arising from that constructive obligation.
2. Related party transactions and Trustees, remuneration
Mr D J Nightingale received £131.85 for expensures incurred while attending Trustees, meetings.
3. Legacy income
The Charity received a legacy payment of £585,000 from the estate of Margaret Joyce Coles, the
Settlor of the Charity.
4. Investment income
2024
2023
UK Unit Trusts - Dividends
Interest on cash deposits
9,426
15,339
318
5. Investment Manager's costs
2024
2023
Transact - Investment management fees
Vertis - Investment management fee5
14,358
8,235
6. Analysis of charitable expenditure
The Charity undertakes its charitable activities through grant making and awarded grants to a
number of organisations in furtherance of its charitable activities.
2024
2023
Grants awarded
57 979.58
Total
57 979.58
Grants per category
Community
Health
Religion
Elderly
42,985.00
14,994.58
27,059
6,000
Total
57 979.58
li

The Claude Ballard Southall Memorial Charity
Notes to the accounts
Year ended S April 2024
7. Governance costs
2024
2023
Trustee Expenses
Dorothy Smith
David Nightingale
192
115
82
10,000
1,250
131.85
76.50
10,000.00
1,500.00
1,250.00
45.00
2 559.00
Bank charges
Legal fees.. Administration
Accounts preparation
Incorporation
Disbursement5
VAT
15 562.35
8. Fixed asset investments
Movement in fixed asset investments
Market value as at 5 April 2023
Adjustment for cash
Additions to investments at Cost
Disposals at carrying value
Net gain/(loss) on revaluation
827,995.29
7,205.59
553,155.35
(67,000.001
135 877.65
867,468
4,566
216,045
(163,263)
Market value as at 5 April 2024
1 185 478.58
827 995
Investments at market value comprised:
2024
2023
Unit trusts
Cash
1,168,459.86
17 018.72
818,182
Total
1 185 478.58
827 995
9. Analysis of current liabllltites and long term creditors
Creditor5 under l year
Legal fees
Independent examiner's fee
12

The Claude Ballard Southall Memorial Charity
Independent Examiner's Statement
Year Ended 5 April 2024
I report on the accounts of the Charity for the year ended 5 April 2024 which are set out
on pages 8 to 12.
Respective Responsibilities of Trustees and Examiner
As the Charity's Trustees you are responsible for the preparation of the accounts; you
consider that an audit is not required for this year under section 122(2) of the Charities Act
2011 (the 2011 Act) and that an independent examination is needed. It is my
responsibility to:
Examine the accounts under section 145 of the 2011 Act.
To follow the procedures laid down in the general Directions given by the Charity
Commission under section 145{5)(b) of the 2011 Act. and
To state whether particular matters have corne to my attention state.
Basis of Independent Examiner's report
My examination was carried out in accordance with the General Directions given by the
Charity Commissioners. An examination includes a review of the accounting records kept
by the Charity and a comparison of the accounts presented with those records. It also
includes consideration of any unusual items or disclosures in the accounts, and seeking
explanations from you as Trustees concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audit, and
consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention..
(i)
which gives me reasonable cause to believe that in any material respect the
requirements
to keep accounting records in accordance with Section 130 of the 2011 Act.
and
to prepare accounts whlch accord with the accounting records and to comply
with the accounting requirements of the 2011 Act
have not been met; or
(2)
to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
13

The Claude Ballard Southall Memorial Charity
Independent Examiner's Statement
Year Ended 5 April 2024
Signed..
Name.. IC I￿) LL
Relevant professional quallflcatlon or body..
Address.,
SIS E &45
Date:
14