Charlty Roglstratlon No. 1130264
THE HENRY STARNES CHARITABLE SErrLEMENT
TRUSTEES. REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
Propared by.. Brachers LLP
Somerfield House
59 London Road
Maldslone
Kent
ME16 8JH
571PHS0159.1

THE HENRY STARNES CHARITABLE SEThLEMENT
LEGAL AND ADMINISTRATIVE INFORMATION
Settlor
Petgr Henry Slarnes
Trustees
Peter Henry Starn85
Anthony Simon Palmer
Brachers Trust Corporation Limil8d
IChrisloph&r Eriksson-Le8 representing)
Charlty numbor
1130264
Principal addross
59 London Road
Maldslone
Kent
ME168JH
Sollcttors and accountants
Brachers LLP
Sorneffleld House
59 London Road
Maldslone
Kent
ME16 8JH
Investment advisors
Walker Crips Stockbrokers Llmlted
Old Change House
128 Queen Victoria Street
London
EC4V 4BJ
Independent oxaminer
M Wilkes FCA
Azets Audll Servlces
Globe House
Eclipse Park
Sillingboume Road
Maldslone
Kent
ME14 3EN

THE HENRY STARNES CHARITABLE SETTLEMENT
CONTENTS
Pago
Trustees, report
Independent examiner's report
Slal8ment of flnanclal acllvltles
Balancé sheet
Notes lo the accounts
7-12

THE HENRY STARNES CHARITABLE SEThLEMENT
TRUSTEES, REPORT
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
The Trustees present thelr report and the unaudlled flnanclal 8tatements of the charlly for the year end￿ 28
Febru8ry 2022. The Iru81e88 have adopted the provisions ol the Slalement of Recommended Practice
{SORPI'Ac¢ounllng and Reporllng by Charlues" IFRS 1021 in preparing the annual roport and fbnancial
slalemenls of the charity.
The financbal slalemenls have been prepared in 8ccordance with the accounting policies sel out in tho notes
lo the accounts and comply with the chadty's governing document. the CharflSes Act 2011 and Accounting and
Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparlng Ihelr accounts
in accordance with the Financtal Reporting Standard applicable In the UK and Republic of Ireland published
in October 2019.
Objects and activitiè$ for tho publlc benoflt
The Qharlly's objects are to mak6 donallons as the t¥uslees in their dIsCre￿on think fit lo organisalions
regarded as charitable by the laws of England and Wales, in particular lo charities that deal wlth the hèalth
and care of animals. The policies adopted in furtherance ol these objects are in making donatSons to charflles
involvgd Sn thls area.
The trustees confirm that they hav& roforred to the guidance contained In the Charlty Commission's general
guidance on public benefit when reviewing the trust's alms and objectives and in plannlng future act(vlll8s and
In tho plannin9 of future donations and grants.
Achelvèments and performance
The charfty was successful In mainl8lnSng an approprlate level of investments to Con￿nUe lo generate
sufficient invesmenl Income to malnlaln current grant maklng poliLies.
Review of financial position and activities
The results for the year are set out on page 5.
Total income for the year amounted to £35,329 (2021.. £74,148). which included an unreslrfcled donation of
£nll12021.. £45,0001.
During the year the trust commltted £19,000 be￿een the 19 charities il supports in respect of the year ended
28 February 202212021.. £19.000). As at 28 February 2022, a lolal of £19,000 remained unpaid.
After accounting for other costs, which amounted lo £10,853 for the year12021.. £10,903) and portfolio
management fees of £1 S,98712021= £14,290), the funds not expenditure of £10,51112021.' surplus £29,955)
before Investment portfolio gains and losses is acceptable lo the trustees In thls Instance as it is due to the
limlng of an unreslricled donation that the charfty was not entitled lo unlll Ma￿h 2022. Reallsed gains and
unrealSsed galns on the Investment porlfollo of £1,169 and £164,557 respecuvely. meant that unre8trlcled
funds increased by £155,21512021.. £206,816) In total durlng Ihe year.
Page 1

THE HENRY STARNES CHARITABLE SETTLEMENT
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 28 FEBRUAR Y2022
Rgsorvg8 Ilncludlng Reserves Pollcyl
Al 28 February 2022. the chaTiWs unieslricled reserves amounted lo £2,004,25812021.. £1,849,043). The
unrestrlcled fund represents the amount availablo for general charitable purposes al the dlscrgtlon of the
Irustees. The truslees. Inlenllon Is lo keep reserves al levels suffi¢l6nl lo conllnu6 lo provide Income whlch will
enable them lo pfovlde donatlons lo approved appllc8fjons, havlng regard lo unforeseen volalilily In
Investment market values. They belleve the resetves pOSi￿On al 28 February 2022 was sallsfaclory.
11 is the policy of the charity to ulllmalely malntsin 'free' reserves (being that element of the unreslrfctgd
revenue reserve whlch Is not fundlng Inveslmenlsl of approximately one ye8r's runnlng cx)sts.
As al 28 February the fre8 reserves of the charity amounted lo £57,83512021= £98.5511- The Iruslees
conslder the closlng level as sufflclent to support their anllclpaled grant maklng expendlture in the followin9
twelve months, Includlng any unforeseen urgent charflable applications.
Dgslgnatgd funds at 28 February 2022 total £1,946,42312021.' £1,750,4921- see note 10 for details.
Investment policy
Tha Iruslees have wde powers of Snveslmenl In accordance with th& goveming instrument lihe charitable l¥usl
deed) and the provlslons ol the Charitles Acts. In conjunction with the chadlws Investment advlsors, the
Iruslees approach the investment of funds in a cautious manner with the intention of maintaining the real value
of the capltal of the fund where posslble, thus produclng a reallslic Income from the capital whlch can then be
dislribuled. Where appropriate. the trustees rnay distribute capital in furtheran￿ of the objects of the charity.
Risk management
The trustees have assessed the major rfsks lo whlch the charlty Is exposed, and are satisfied that systems are
In pla￿ lo mibgale exposure to the major rlsks. The funds Invested and those held on deposll are sublect to
the compliance procedures of both the charfty's Investment advisors and Bra¢hers LLP.
Going ¢oncem
The Trustees have no reason to believo that the charlty wfll be unable to contlnue oper8tlng 8$ a golng
concern {able to pay ils debts and 9rant commitments as they fall duel for a perlod of al least 12 months from
the date of approving these accounts.
Page 2

THE HENRY STARNES CHARITABLE SETTLEMENT
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y2022
Slructure. governance and managgmgnt
The charftsble seluement is a registerd charity, number 1130264, and was established by a charflable trust
deed dated 5 Novembar 1996. It was registered as a charlty wlth the Charity Commlsslon on 22 June 2009.
There are currently throe trustees. The Iwstees conslder charllable donallons on the basls of the objects of
the charity and taking into account appeals received by the trustees during the year.
Thè trustees who served during the year were..
Peter Henry Starnes
Anthony Simon Palmer
Brachers Trust Corporation Limited
The trustees include profosslonals wllh approprSale skllls lo properly manage tho trust assgls and apply those
assets In accordance with the trust deed. Brachers Trust Corporation Limited was appointed trustee. with
Chrfslopher Eriksson-Lea taking an acuve role as assigned Iruslee representative In hls capacSty as dirgclor of
Brachers Trust Corporation Llynltsd.
The original seluor has the power lo appoint additional or new Irustees during his lifetime. After the setUor'8
death, additional or new Iruslees are appointed by the existing trustees. The trust deed provldes for a
maximum of five Iruslges.
Approved b
and slgned on Ihelr behalf..
Chrlstopher Eriksson-Lee
on behalf of Bra¢hor¥ Trust Corporatlon Limited
Trustee
Dated.. 15 December 2022
Page 3

THE HENRY STARNES CHARITABLE SEThLEMENT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HENRY STARNES CHARITABLE SEThLEMENT
I report lo the trustees on my examlnalion of the acGoLJnts of the Henry Slames Charllable Setuemenl for the year
ended 28 February 2022. which are set out on pages 5 to 12.
Rèspon61bllltlgs and basls of rgport
As the charSly Iruslees of the Trust you are responsible for Ihe preparation of the accounts in accordance wllh the
requlremenls of the Charblles Act 2011 Ilhe 'Acl'l.
I report in respect of my examination of the Trust's accounts cariied oul under section 145 of the 2011 Act and in
carrying out my examinauon I have followed all the applicable Diieclions glven by the CharSty CommSssion under
secllon 145(5Xbl of the Act.
Independent examlner'8 Statement
I have Completed my examination. I confirm that no material mallers have come lo my attention in conne¢llon wllh
the examinallon glvlng me cause lo believe that In any m81edal respect..
1. accoL¢ntlng records were not kept In respect of the Trust as requlred by secllon 130 of the Act,. or
2. the accounts do not accord wllh those records,. or
3. the accounts do not cornply with the applicable requI￿rnents concemlng the form and content Df accounts
Sel out In the Charilles (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a 'true and fair Vie￿ which is not a maller considered as parl of an independent examlnallon.
I have no concerns and have come acrDSS no other matters in connection wth the examination ID which allenlion
should be drawn in this report in order lo enable a proper understanding of the acoounls to be reached.
M Wllkes FCA
Azets Audlt Servlces
Globe House
Eclipse Park
Sittlngbourne Road
Maidslone
Kent
ME14 3EN
Dal&d: 15 Decemb81 2022
Page 4

THE HENRY STARNES CHARITABLE SE￿LEMENT
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUARY 2022
Unrè8triclod
Funds
Unrestricted
Funds
Year endgd
28 Fobruary
2022
Year ended
28 February
2021
Notes
Income from
Legacles & donauons
Dlvldends & Interest
45.000
29,148
35,329
Totsl In¢om
35,329
74,148
Expenditure on
Charilable activities
19,000
15,987
10,853
19,000
14,290
10,9D3
Costs of raising funds
othor costs
Total expenditure
45,840
44,193
Not {gxpendlturelllncomg
110,5111
29,955
other recognised gains and losses
Nel gains on inveslmenis
165,726
176,861
Not movèment in fund6
155,215
206.816
Total funds brought forward
1.849,043
1,642,227
Total funds carrled fo￿lard
2.004,258
1,849,043
Page 5

THE HENRY STARNES CHARITABLE SETTLEMENT
BALANCE SHEET
AS A T 28 FEBRUAR Y2022
28 February
2022
28 February
2021
Notes
Flxod assets
Investments
1.946,423
1,750,492
Current assets
Debtors
Cash at bank and in hand
2,113
78,700
45,000
75,864
80.813
120,864
Croditors: amounts falling du
wlthln one year
122,9781
122,3131
Net current assats
57,835
98.551
Total assots less current
1SabSlltles
2.004.258
1,849,043
Reprgsentod by
Unreslricled funds
Designated funds
General funds
10
1,946,423
57.835
1,750,492
98,551
Total unreslricled funds
2,004,258
1,849,043
The aocoun
ved by the Trustees on
15 December 2022
Christophor Erlks$on-Lg&
on behalf of Brach¥rs Trust Corporation Limited
Trustee
Pag8 6

THE HENRY STARNES CHARITABLE SEThLEMENT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
1 Accountlng poll¢l•s
1.1 Basls of preparation
The Henry Starnes Charrtable Selllemenl is a charfty ieglstered wllh the Charlty Commlsslon in the
United Kingdom (England & Walesl IN, 1130264}. The address of the registered office is Somerfield
House, 59 London Road, Maldslone, Kent, ME16 8JH.
The charity conslltules 8 public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance wllh Accounllng and Reporting by Charities.. Statement of RecDmmgnded
Practice applicable lo charities preparing their accounts In a¢cordan¢e wllh tho Flnan¢lal Reporting
Standard applicable Sn the UK and Republic of Ireland IFRS1021 issued in October 2019, the Financlal
Reporung Standard applloablg In Ihg Unlled Kingdom and Ropublic of Ireland IFRS1021, Ihe Charflles
Act 2011 and UK Generally Accepted Praolice. The charily conslilulgs a pubS1¢ benefll entlty as defined
bythe SORP.
The charity has opted not to prepare a cash flow stslemenl for the financlal p8rtod, as pemilled by the
2019 Slalement ol Recommended Practice.
The fi'nancial st8temen15 have been prepared lo give a 'lrue and fair view. and have departed from the
Charities IAccounls and Rgporlsl Regulations 2008 only lo the extant required to provide a'lrue and
falr view.. This departure has involved followlng the Accountlng and Reporting by Charllies: Slatemenl
of Recommended Pracllce appllcab18 to chaiilies prepaiSng their accounts in accordance wllh the
Flnandal Reportlng Standard applicable In the UK and Republlc of Ireland (FRS 1021 Issued In October
2019.
The financial statements are prepared on a going con￿￿ basis under the historical cost Gonvenllon,
modSfied lo InGlvde certaln Items al falr value. The financlal slalemenls are presented In 8lerllng which
Is the functlonal currency of th8 charlty and rounded to the nearest £.
The signiflcanl ac¢ounUng pollcles applled In the preparatlon of these flnanclal slalemenls are Set out
below. These pollcles have been conslslently applied lo all years presented unless olherwlse slated.
1.2 Incomo recognition
Donations, legacies and other fomis of voluntary Income are rècognlsed 8s Income when recelvable,
except insofar as they are incapable of finan¢lal me8surernenl.
Income from Investments Is reGognlsgd when recelvable.
1.3 Ex￿ndIture r•cognltlon
All expenditure is accounted for on an accruals basls and has been el&ssifled under headings that
aggregate all costs related lo the category.
Grant expenditure is recognised when awarded lo the recipient. The expense is In¢luded on an
accruals basis in the year in which a legal or constructive obligation to pay the grant arises.
Costs of raising funds are those Investment nanagement fees for both income generation and capSts1
maintenanc8.
Charllable acllvllles Include expendllure assoclaled with the making of grants and donations and
Snclude both thg dlrecl costs and indlrgot costs relating lo Iheso aclivllies, on an accruals basls.
Page 7

THE HENRY STARNES CHARITABLE SETTLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
1.3 Expendllure rècognltlon {conllnuedl
IrreGoverable VAT Is charged 8galnst the category of resource expended for whlch11 was Incurred.
1.4 Investmènts
Investments are recognised al fair value which Is normally the Iransactlon pric& excludlng Iransacllon
Costs. Subsoquonlly they are measured al falr value with changes r&cognlsed In 'nel gainsl{lossesl on
Investments. in the SOFA If shares are publlc ally traded or thelr fair value can olherwls8 be measured
reliably.
Realised galns or losses arSslng on dispos818re recognlsed In the Slalemenl of Fln8nci81 Acdvllles
(SOFA) when the proceeds are re￿ivable.
1.5 Fund accountlng
The funds held by the charity are unrestricted funds which can be used in accordance with the
charitable objectives al the discreliork of the Iruslees.
Designated funds comprise funds which have been sel aside al the discretion of the Iruslee for sp￿lfi0
purposes, The purposes and uses of the deslgnaled funds are sel out In the notes lo the flnanclal
statements.
1.6 Debtors and cr•dltors rg¢aivablelpayabla within ona yoar
Debtors and creditors with no staled inl8resl rate and receivable or payable within one year are
racorded at transaci¢on price. Any losses arislng from Impalrmenl are recognlsed In expendllure.
1.7 Taxatlon
The charity Is an exempt charity wilhin the meaning of schedule 3 of Ihe Charities Act 2011 and
is consldered lo pass the tests set out In Paragraph 1 Schgdulo 6 Flnance Act 2010.
1.8 Golng Concern
The financial statements have been prepared on a golng concern basss as th8 Iruslees bellev8 that no
materlal uncertainlles exist. The Iruslees have considered the level of funds held and the expected
level of income and expenditure for 12 months from aulhorising these flnancfjal slalèmenls. They
believe the anlicipaled expendllure wlll be adequately lunded glven the exlslSng level of r&s&rves for the
charity lo be ablo lo conunue as a going concom.
1.9 Judgements and key sources of estlmatlon uncertalnty
Accounttng esllmalos and judgements are conllnu211y evaluated and are based on historical oxperfence
and other factors. Includlng expectations of future &venls that are believed lo be reasonable under the
drcumstsnces.
Page 8

THE HENRY STARNES CHARITABLE SETTLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
2 Legaclos and donatlons
2022
2021
Unreslrfcled fund5'.
Donatlons
45,000
3 Dlvldend8 and Intgrost
2022
2021
Income from listed Investments
Interest receivable
35.329
29,111
37
35,329
29.148
4 Expenditure
2022
2021
Charlt8ble actlvltles
Grants lo Ins￿tutIOnS..
BILJe Cross
Gr8enpeace Charitable Trust
Hearing Dogs for tho Deaf
Kent Wlldllfe Trust
League Against Cruel Sports
PACT Anlmal Sanctuary
PDSA
RSPB
RSPCA
Royal Veterinary College Anlmal Care Trust
SPANA (Society lor the prol&cllon of animals abroad)
Sight Savers Inlemalional
The Brooke Hospllal for Animals
The Dogs, Trust
World Society for the ProteGtton of Anlm8ls
WWF-UK
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,DOO
1,000
1,000
1,000
1,000
1,000
1,000
Camvet
Dogs for Gix)d
PETA Foundation
19,000
19,QOO
Page 9

THE HENRY STARNES CHARITABLE SETTLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
4 Exp•ndlturg {contlnu&dl
2022
2021
Reconclllatlon of grants payable
Commitments unpald 811 March 2021
Commitments made in the year (above)
Grants pald during the year
19,000
19,000
119,0001
18,000
19,000
118,000)
Commitments unpaid al 28 February 2022 {NDlg 91
19,000
19,0(10
Costs of raising funds
Invesbnent managers, fees
15,987
14,290
15,987
14,290
oth&r costs
Management, adminislralion and accountancy fees
Ind&pend0nl examination..
Independent examination fees
Other servlces- accountsncy
Irrecoverable withholding lax
7,694
8.589
2,620
2,240
59
74
10,853
10.903
5 Trustees and related party transaction$
Nono of the tDJslees Inor any persons connected wSlh them) personally recelved any remuneration or
expenses relmbursed durtng the year, In accordance wllh the trust deed.
In addition, the charity was charged managemenl, administration and accountancy by Brachers LLP
amounllng lo £7,694. Durfng the year an assoclated undertaking of 8rachers LLP, Brachers Trust
Corporatlon Llmlled, was appolnled a trustee of the Charlty. Foes are charged al commercl81 rates by
Brachers.
Durlng the yeaT the charity received uncondllional donaJons 8mounting lo £nll12021: £45,000) from 8
trustee.
6 Employees
There were no ernployees during the year.
Page 10

THE HENRY STARNES CHARITABLE SEThLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
7 FIX￿ a88et Invèstmènts
2022
2021
Llsted Inv&8tments:
Market value al 1 March 2021
Addltlons al cost
Dlsposal proceeds
Realised losses on disposals
Unrealised gBinslllossesl on revaluation
1.596.301
411,835
(269,7501
1,532.716
178.217
1291,4931
1,169
164,557
179,554
12.6931
165,726
176.861
1,904,112
42.311
1,596,301
154,191
Cash
Market value at 28 February 2022
1.946.423
1,750,492
Hislorical cost of investments
1.257.099
1,065,800
The portfolio was corllprosed as follows=
Equities
Fixed Interest Securities
Allemative Assets
Cash
1,389,733
185,615
328,764
42,311
1,058,897
226,490
310,914
154,191
1,946,423
1,750,492
Investments represenllng more than 5Yo of tho total market value of the listed invesmenls porffollo were
as follows..
European Opportuniles Trust PIC Ord GBOO.01
Llnk Fund Solutions Ltd Ruffer Total Return C Dis
Fbdellty European Trust PIC Ord GBPO.026
Ishares11 PIC- GBP Idx-llnked Gllts UCITS ETF GBP Dlsl
Ishares S&P UCITS ETF NAV
132.656
115,889
122,620
92,739
107,698
Page11

THE HENRY STARNES CHARITABLE SE￿LEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
8 Debtor¥
2022
2021
Other debtor8
2,113
45.000
2.113
45.000
9 Credltors: amounts f411Sng duo wlthln one year
2022
2021
Grants payable (note 41
Olhgr ¢redllors
19,000
3,978
19.000
3.313
22,978
22,313
10 Doslgnatod funds
The income hjnds of th8 charity include the following d6slgnated funds which have bg8n sel asida out of
uniestricled funds by the Iruslees for sp&clfl¢ purposes..
1 March
Ngw
2021 doslgn4tlons
D&8ignatlons
reloased
28 F$bruary
2022
Investment fund
1,750,492
465,681
1269,7501
1,946,423
1 March
New
2020 Il&slgnationB
Designatlons
reloased
28 Fobruary
2021
Investment fvnd
1,$66,523
475,462
(291.4931
1,750,492
Investment fund - these funds are Invested to maximisa lot81 return and generate incomè.
Page 12