L E Andrews Charitable Trust
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Registfrred Charity Number 1129185

L E ANDREWS CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Pag8
Report of the Trus188S
Reference and administrative details
Report of the Independent Examiner
Slatement of financial activities
Balance sheet
Noles to the financial statements

L E ANDREWS CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
The trustees pres9nt their annual r8POrt and financial statements of the Charity for the year ended 5 April 2024.
The report and financial statements have been prepared in accordance with the accounts'ng policies set out in note
110 the accounts and comply with the Charity's Scheme, the Charities Act 2011. and Accounting and Reporting by
Charities.. Slalement of Recommended Practice applicab19 to charities preparing their accounts in accordance wtth
Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191.
AIMS. OBJECTIVES AND ACTMTIES FOR PUBLIC BENEFIT
Under the lem)s of L E Andrew's original Will dated 30 October 2001 and a charitable trust approved by the Charity
Commission. the overall aim of the Charity is the weifare of animals.
The trustees have had due regard for the Charity Commission's general guidance on public benefit. They are
satisfied that the current aims. objectives and actwities are for the public benefrt and are comparable with the
updated descriptions of charitsble purposes detailed in the Charities Acl 2011.
The Charitys obl￿tiVe is to make donations and grants to support the welfare of animals.
ACHIEVEMENTS AND PERFORMANCE
During the year, the tnjst's capital has increased due to unrealised gains on investment portfolios as detailed in
note 7. The investments have continued lo produce a Steady slroam of income which has been diStri￿ted al the
trustees. discretion lo various local charities having as thèir object the weware of animals.
FINANCIAL REVIEW
In order to undertake its work. the Charity is reliant upon the income from ils investments and other sources. This
amounted to £36,96412023.' £45,641) being 8 decrease of £8.677119.01'/0) from the prevbus year. The Charity
also receiv8d a loan from The Execulors of L E Andrews of £13,263 in the year12023'. £nil).
Investment Poll¢y and Performancé
The inv•slmenls are currently held in a range of funds operated or monitored by the 8ppointed Investment Manager,
GHC Capital Markets Limited. who has delegated authorty which allows Ih&m to move funt1s within their portfolio.
In accordance with good management the trustees monitor the funds through a range of measures..
Quartedy reports from the respective Fund Managers.
An annual revlew of the overall investment policy.
Rlsk Management
Thg trustees have considered the malor strategic. business and operational risks relevant to the Charity and have
set out a Poltcy to manage those risks.
As virtually all of the Charity's income is generaled from investments. the trustees conslder that the risks lo both
the capital and income can ￿ marbaggd through thg diversification of these investments.
Re$ervo$ Pollcy
The reserve policy of the charity is to hold sufficient funds lo cover at least Iwelve months of expenditure. The
trustee9 mnltor the reserves level through the year.
Page I

L E ANDREWS CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
PLANS FOR THE FUTURE
The trustees wll conb'nue to seek out and support ¢haritie$ whose purpose is the welfare of animals.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Charity was created by the Will of L E Andrews as a charitable trust and registered as a charity on 16 April
2009.
The Board of trustees normally meets quarterly to consider g8neral busin9ss such a$ grant making. finance,
investments and policy matters. In addition to the Annual General Meeting. the trustees also hold adhoc meetings
to reviow grant requests or other matters. The trustees are appointed by the extsling trustees.
Key management personnel remunèratlon
The trustees consider that the Board of trustees comprise the key management personnel. Trustees are not
remunerated and give their lime wrthout cost to the Charity.
Trustees. expenses and related party transactions are disclosed Sn note 2 of the Flnan¢ial Slatemenls.
REFERENCE ANO ADMINISTRATIVE DETAILS
Charlty Number:
1129185
Address:
7 Abbey Court
Abbey Lane
Evesham
Worcestershire
WR114BY
Telephone..
E-mail..
01386 718955
Wlll.Bailey@Almswc4)dAdvisory.co.uk
Trustees:
Mr R l Bailey
Mr D A Brown
Mr W G 8ai1gy
Mrs P J Hill
Chairman
Resigned on 9 Odober 2023
Appointed on 9 October 2023
Correspondents:
Mr R l Bailey
Indopondent Examlner:
P R Parsons
Clemenl Rabjohns Limited
111-113 High Street
Evesham
Worcestershire
WR114XP
Bankgrs:
Cater Allen Private Bank
9 Nelson Street
Bradford
8D15AN
Investment
Managers:
GHC Capital Markets Limited
22-30 Horsefair Street
Leicester
LE15BD
Page 2

L E ANDREWS CHARrrABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The trustees are responsible for preparing a trustees, annu81 report and financi81 statements in accordance with
applieable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Praclice)-
The law applicable to charities in England and Vvales requires the trustees to prepare financial statements for eath
year which give a true and fair view of th& stsle of affairs of the Charity and of the incoming resources and
application of resources, of the Charty for that period. In preparing the financial statements, the trustees are
required lo..
select suitsble a￿OUntIng policies and then apply them consislenlly.,
observe the methods and principles in the applrcable Charities SORP;
makg judgements and estimates that are reasonable and prudent..
slate whether applicable accounting stsndards have been followed. Slsblecl to 8ny material departures
that must be disclosed and explained in the financ￿1 stal8ments'
pTrpare the financial statements on the going concern basis unless it is inappropriate to presume that
the Charty will ¢ontinue in business.
The tnjslees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at
any time the financial posllion of the Charity and lo enable them to ensure that the financial statements comply with
the Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008, and the provlsions of the Trust
deed. Th&y are also responsible for safeguarding the assets of the Charity and taking re8sonable steps for the
pr9venlion and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the Charity and financial infomialion included on
the Charity's wgbsite. Legislation in the United Kingdom governing the preparation and dissemination of financial
statemènts may differ from legislation in other jurisdictions.
This Report was approved and adopted by the Board oftrustees at the Annual Ggngral Meeting held on 3 February
2025.
Mrw G Bailey- Trustèè
Pa8e 3

REPORT OF THE INDEPENDENT EXAMINERS TO THE TRUSTEES OF
L E ANDREWS CHARITABLE TRUST
I report to the charity trustees on my examination of tho a¢¢ounts of the charity for the year ended 5 April 2024
which are set out on pages 5 10 11.
Responsibilities and basis of report
As the charity's Iruslees you are responsible forlhe preparation oflhe accounts in accordance with the requirements
of the Charities Act 2011 I'lhe Acl'}.
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in
Carrying out my examination I have followed all the applicable Directions given by the Charity Commission under
section 145(5llbl of the Act.
Independent examinerfs statement
Your attention is drawn to the fact that the charity has prepared the financial ststemenls in accordance with
Accounting and Reporting by Charities preparing their accounts in accordance wlh the Financial Reporting
Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 in prefe￿nce to the Accounting and Reportillg by
Ch8ri1ies= Slalement ol Recommended Practice issued on 1 April 2005 whi¢h is referred to in the exiant regulations
bul has nONV been withdrawn.
understand that this has been done in order for the financial statements lo provide a true and fair view in
accordance with Generally Accepted Accounting Practi￿ effective for reporting periods beginning on or after 1
January 2015.
I have completed my examination. I confirm that no material matters have Gomg to my attention in connection with
the examination gwing me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements concerning the fomi and conlenl of accounts set
out in the Charities (Accounts and ReF>Ortsl Regulations 2008 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.
I have no ¢on¢erns and hav& ¢ome across no other matters in connection with the examination to which attention
should be drawn in this report In order lo enable a proper understanding of the accounts to be reached.
Mr P R Parsons
Clernent Rabjohns Limited
111-113 High Street
Evesham
Worcestershire
WR11 4XP
.2025
Page 4

L E ANDREWS CHARrrABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrestrlcted
funds 2024
Unrestritted
funds 2023
INCOME AND ENDOWMENTS
Invastm8nt incom•
36.964
45,641
Total Income
36.964
45,641
EXPENDITURE
Costs of raising funds
Investment management costs 4
Professional fees
Charltable a¢tlvltle$
Grants and donations
Trugtees, expenses
22,344
30,895
15,470
31,135
76,000
Totsl expendlture
129,239
46,605
Net expenditure and net
movement In funds before
galns on Investments
{92,2751
{9641
Nel galns l (losses) on
Investments
168,128
194,864)
Net Income l {expenditure)
75,853
{95,828}
RECONCILIATION OF FUNDS
Total funds brought ft>rward
2.044.869
2,140,697
TOTAL FUNDS CARRIED
FORWARO
2.120.722
2.044.869
The notes on pages 7 to 11 fom part of these accounts.
Page 5

L E ANDREWS CHARrrABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2024
Total funds
2024
Total funds
2023
Note
FIXED ASSETS
Investments
2,032,326
1,843,245
CURRENT ASSETS
Debtors
Cash al bank and in hand
652
202.103
102.839
Total Current Assets
102.839
202,755
LIABILITIES
Creditors falling dug within
one year
{14,4431
11,131)
NEf CURRENT ASSETS
201,624
TOTAL ASSETS LESS
CURRENT LIABIUTIES
2,120.722
2,044,869
NET ASSETS
2,120,722
2,044,869
THE FUNDS OF THE
CHARITY
10
Unrestricted Funds
2,120,722
2,044,869
TOTAL CHARI
FUNDS
2,120,722
2,044,869
The notes on pag9$ 7 to 11 fomi part of these accounts.
The financi81 statements were approved by the Board of Trustees on 3 February 2025 and were signed on its behalf by-
Mr W G Bailgy- Trustee
Page 6

L E ANDREWS CHAR￿ABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
ACCOUNTING POLICIES
Charlty Infonnatlon
L E Andrews Charitable Trust is an unincorporated charitable tnjst created by the will of L E Andrews.
Accountlng Conventlon
The financial statements have been prepared in accordance wth the Charity's Scheme, the Charities Act 2011
and °Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021 {8ffgclive 1 January 20191.. The Charity conslitules a public benefit entity as defined by FRS
102.
The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the
extent required to provide a true and fair view. This departure has involvgd ft)Ilowing the Statement of
Recommended Practice for charities applying FRS 102 ratherthan the version ofthe Statement of Recommended
Practiee which is referred to in the Regulations bul which has since been withdrawn.
The financial gtalements are prepared in sterling, which is the functional currency of the Charty. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convenb'on. modrfied to include the
revaluation of freehold property and to include investment properties and certain financial instruments at fair
value. The principal accounting policies are set out below.
Golng concem
Al the time of approving the financial slatemenls, the Trustees have a reasonable expectation that the Charity
has adequate resource$ lo conlinue in operats'onal existen￿ for the foreseeable future. Thus, the Trustees
conkn'nLte lo adopt the going Concern basis of accounting in preparing the financial stalemenls.
Fund strncturè
The Charity received cash from the will of L E Andrews. Thls represents unrestrfcted funds and can be expended
al the Trustees, discretion in accordance wllh the charity's oblectives.
Income rocognltlon
All income is recognised once the Charity has entill8menl to the income, it is probablg that the income will be
received and the amount of income receivable can bg measured reliably.
Interest on funds held on deposit Is included when recetvablè and the amount can be measured roliabty by the
Charity,. this is normally upon nolifieation of the interest paid or payable by the bank. Dividends are recognised
once the dividend has been declared and notification has been received of the dividend due. This is nomially
upon notificab'on by our investment advisor of the dividend yield of the investment portfolio.
Exp•nditurn r•¢ognition
Liabilities are recognised as expenditure as soon as there is a legal or conslrucllve obligatson committing the
Charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be
measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and govemance costs
are allocated or apportioned to the applicable 6xpendilure headings.
Grants payable are payments made to charfties In the furtherance of the objectives of the Charity. The grants are
accounted for where either the Trustees have agreed to pay the grant without condition and the recipient ha$ a
reasonable expectstion that they will receive a grant. or any condrtion attaching to the grant is outside the Control
ofthe Charity.
The not¢s forni part of these financial statements
Page 7
continu¢d...

L E ANDREWS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
ACCOUNTING POLICIES- continued
Irrecovernble VAT
Irrecoverable VAT is eharged against the expenditure heading for which rt was incurred.
Costs of ralslng funds
The costs of generating funds Consist of investment management costs.
Charltsble actlvltles
Costs of charitable activities include grants made as shown in note 6.
Flxed asset Investments
Investments are a fomi of basic financial instrument and are initially recognised at thelr transaction value
and subsequently measured at their fair value as at the balance sheet date using the closing quoted market
pri¢e.
The statement of financial activities includes the net gains and losses arising on revaluation and disposals
throughout the year.
The Charity does not acquire put options or other wmplex financial instruments.
The main form of market risk faced by the Charlty 1$ that of volalilily in equrty marke1$ and investment markets
due lo wider economic conditions. the attitude of investors lo investment risk. and ¢hanges in sentiment
conc8ming equities and within partlcular sectors or sub sectors.
Cash and cash equlvalents
Cash and cash equnialenls include cash in hand, deposits held at call with banks and other short-lemi liquid
investments with original maturiligs of three months or less.
Flnanclal instrumert$
The Charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumgnls, and Section 12
'Olher Financial Instruments Issues, of FRS102 10 its financial instrum8rbls.
Financial instrum8nls are recognised in the Charity's balance sheet when the Charity becomes party lo the
contractual provisions of the inslrumenl.
Baslc flnanclal assets
Basic financial assets classified as receivable within one year, which include other rg¢eivables and cash and
bank balances are measured al transaction price including transaction wsls.
Ba$lc flnan¢lal Ilabllltles
Basic financial liabilities, including trade and other payables are initially recognised al transact￿n price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the fubjre payments discounted al a market rate of interest.
Financial liabilities classified ag payable withln one year are not amortised.
Taxatlon
The Charity 1$ exempt from tsx on its charitsble activities.
Reallsed galns and losses
All gains and losses are taken to the Statement of Flnanci81 Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and opening carrying value
or their purchase value if acquired subsequent to the first day of the financi81 year.
Unrealised gains and losses are calculated as the differencé b9tween the fair value at thg year end and their
carrying value. Realised and unrealised gains and losses are combined in the Statement of Financial
Aclivilies.
The notes fonn part of these financial 5tat¢m¢nts
Page 8

L E ANDREWS CHARrrABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
RELATED PAR￿ TRANSACTIONS AND TRUSTEES, EXPENSES AND REMUNERATION
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash
or kind {2023.' £nil}- The reimbursement of trustees, expenses was as follows..
2024
Number
2023
Nurnb8r
2024
2023
Travel
The following related paty transactions ￿Curred during the year.
In 2024. Almswood Advisory Services Ltd received £24,000 {nel of VAT) in respect of professional services.
Mr R l Bailey and Mr W G Bailey are employees of Almswood Advisory Services Ltd 12023- 25,000 was
received net of VAT)-
INVESTMENT INCOME
2024
Total
funds
2023
Total
funds
Bank deposit interest
Investment interest
Dividends
F￿e19n income
Propety income
Income tax refund
5.139
25.785
6,023
3,288
23,895
16,735
1.477
246
17
36,964
45,641
All income was attributable to unreslncted funds in the current and prior year.
INVESTMENT MANAGEMENT COSTS
2024
Total
fund6
2023
Total
funds
Portfolio management
22,344
22,344
15,470
All of the Invé$tment management costs were allributable lo unreslricled funds in the current and prior
year.
The notes forni part of these financial statements
Page 9

L E ANDREWS CHARrrABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an accNed independent examination fee of £983
12023= £955, invol￿d amounl}- Figures are nel of VAT.
ANALYSIS OF GRANTS
2024
2023
Bimingham Dogs Home
Blue Cross
Cotswold Dogs and Cats Home
Forest Dog Rescjje
Gloucester Animal Welfare Association
Goats Galore Animal Sanctuary
Good Heart Animal Sanctuaries
PDSA Bimiingham
RSPCA Coventry
RSPCA Worcester
5,000
5,000
5,000
20,000
5,340
4.355
5,000
6.305
10.000
10,000
76,000
FIXED ASSET INVESTMENTS
2024
Movement In flxed asset Ilsted Investments
Markgl value brought fO￿ard al 6 April 2023
Additions to investments al cost
Disposals at carrying value
Realised gains
Net unrealised investment gains
1,843,245
843,552
1822,5991
3.000
165.128
2.032,326
Nel cash released from investments in the year was £60,000 {2023'. £90,000).
2024
2023
Equities and fixed interest securitie$
2,032,326
1.843.245
2,032,326
1,843,245
ANALYSIS OF CURRENT ASSETS
2024
2023
Debtors
Cash at bank
652
202,103
102.839
Total
102.839
202,755
I cash and bank balances were represented by unreslricled funds in the current and prior year.
The notes forn) part of these financial ststements
Pag¢ 10

L E ANDREWS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
ANALYSIS OF CURRENT LIABILITIES
2024
2023
Accruals
Loans
1.180
13.263
1.131
Total
14.443
1,131
All creditors were represented by unrestricted funds in the current and prtor year.
10. ANALYSIS OF CHARITABLE FUNDS
Ngt
At 6 April movoment In
2023
funds
Transfers
between
funds
At 5 Aprll
2024
Unrestricted fvnds
2.044.869
75,853
2.120.722
TOTAL FUNDS
2.044.869
75,853
2.120,722
Net movement in funds, inclutled in the a￿0ve are as follows:
Incomlng
resourcès
Rèsourcès
expendèd
Galns and Movement In
losses
funds
Unrestricted funds
36.964
1129.2391
168.128
75,853
TOTAL FUNDS
36,964
129,2391
168,128
75,853
The unrestricted funds balance represents the balance of capital donated under the L E Andrews Will to the
¢haritsble trust and surplus in¢ome brought forward which is available lo be spent at the trustees, discretion
on the objectives of the charity.
The notes forn] part of these financial stslements
Pagell