Charlty numb•r.' 1133280
THE EARLE AND STUART CHARITABLE TRUST
UNAUDtrED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

THE EARLE AND STUART CHARITABLE TRUST
CONTENTS
Page
Rdernn¢o and admlnlstratlv• qlotsils ol th• Charlty. Its Trust••s arKI advis•rs
Tiustees. rewt
Indewndent exJnin•rf$ report
StatWnO￿ of financlal activities
Balance shoot
Notss te the financlal slatem
10-19

THE EARLE AND STUART CHARtfABLE TRUST
REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE CHARiff. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 OCTOBER 2021
Trustees
James K Morgan
J knne Richardg)n
Charfty r•gist¢r•d
number
1133260
Prfnciyl offi
Westgale Hwse
42 Chapel Street
King's Ly
N(¥fdk
PE30 1EF
Larting Gowen LLP
Chartered Accwntsnls
King Street H(yJse
15 Upper lfjng Street
Normich
NR3 1RB
Investm•nt Managérs
Bro￿ Shipley & Co ￿mIte(l
Flchmond Pk)use
1fv20 Regent Street
Cambri
CB2 1D8
Page 1

THE EARLE AND STUART CHARThABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 OCTOBER 2021
The Trustees PreS￿t their annual repcwl tTr3ethw V4ith the fIn￿CIal statements of the Charity for the 1
Novembw 2020 to 31 Octcèar 2021.
The financAal 5tstemenls have been wepar•J in ￿Cc￿aftce V•ith the ac£wnbr¥J pcAiries *t out in notes lo the
accounts and wmply the ChariWs goveming (IrxwmenL the Charities Act 2011 and Accounting and
Rewting by Charitie& Statement of Recommend&Y Practice applicable lo charities preparing th￿r accounts in
accordance wth the Financkil RerKwb'rKJ StaThlwd applica￿ in Ihe UK and R￿UbliC of Ireland {FRS 102}.
ObJectlv68 and actlvltSoS
a. Polkles and obi•¢tiv•s
The Trustees shall hcld the capital arKI InC￿e of the Trust fund Up￿ Trust to apFdy the income. and all or such
part or parts of Ihe eaprtal, at suth time or times and in wch mamw lo. or for the ￿er11 of. wch exclusively
charita￿8 obj￿IS and purposes for the public Lwefit in Ihe United Kingdcfft as the Trustees may in their
discretion see rrt.
The Trustees may in thew discretion. for the pericKY of 21 years for the date of the Tnjst de￿, instead of
applying the income of the charity in any year. 8ccumulate all ￿ ary part of suth incc*ne by investing the
same, and the re9Jlling inc(￿e, in ary inve*ments auth0ri58d by this deed or by18w as an accreti￿ lo and a5
part of Ihe caytal of the Charity, WIthc￿ prejuthce to thekr right to aFoly the vknole or any part of such
cumulated inojme in any ￿b$eqU￿t year as if ts wne I￿re income of the Charity arising in the then
current year.
b. Grant-making polkles
The Charity objects are achiev8J by widiro financial grants to UK registered tharities that provide
assistance diredy lo bweficiari8s. The levels of grdnts made are detem)ined by refgrence lo available funds in
Ihe Trust's bank acccmjnts and the nalure of w[ta￿e prr4ec
Main activhles und￿taken to furthar tho Charfty's Purpo￿ for th• public benefit
The Trusiees confirm IhaL in exerosing their p￿￿Er$ and duties. they have complied with the duty to have due
regard to the guidan￿ ￿ public benefit publisWJ by the Charity C￿Mi￿on.
The Charilvs ch8rilabie acbvibes consist of makn.ng grants lo in*luti(￿S *ithin the UK. Thg Trust995 COn￿d
that the aims of these instituti￿$ are lor the benrfil of the public and therefore as princÉpally all of the Charitys
activities are directed tovrards these In￿t￿tiOnS, the Charitys aims are carried out vknolly for the public benefit.
In the event that they became awere of any concem as to the public benefit of any of the Charity's
bg)efic#aries. the Trustees (*rf￿der tr￿1r having rewd to the Charity Commissi¢M's above-
mentioned guidance.
Page 2

THE EARLE AND STUART CHARITABLE TRUST
TRUSTEES. REPORT {CONTINUED>
FOR THE YEAR ENDED 31 OCTOBER 2021
Achievements and perforniance
. Revlow of a￿1VItI95
The Charity's principal source of inc￿ne is denved from ils invethents. the inccrfne from Ithich was £79.633,
12020.. £97,￿) for the year.
Grants tolaling £89,500 12020: £251.500) Mere m*Je in year. Tr grants made to 10 institutions as
detailed in Note 6.
The nel expenclture, after grants arKI operati¢)nal expenses of £116.98412020.. £277.6981 was £38.195 {2020'.
£179,732}.
b. Invoslment stra8gy
The trust deed gives the Trustees the pTh*r to acquire aThJ dispose of investments as they see fit. as well as
poN%prs lo appoint a gjitably qualrfied inveslment Mana￿ ￿1th ddegated Fohers of investment. wbjecl to an
annual review. Sn praclice. half yeady reviev•S take p18ce and the invethenl manager has ijigLretionary power.
Where possible. investments are Consid￿ as to Iheir 9jitth.lity taking into accwnt 9)ual and ethi￿1 issuos,
as well as risk, Capital and incc¥ne asp￿ts.
The inveslment p(Yttdio is to provide a regul¥ of irKcrfne and as suth conslitutes a low to
medium risk portfolio, inc(w¥ating a concentration of high inttthe ￿￿diftg sewritie&
The Charity's investment pytfoh'o werdled a surplus the year las Statement of financial
activities). reflecting the recovery following Ihe inibal global uncertainty in relabon to the cOr￿aViruS ICOVI
191. The porfdio perfomianc* ¢(￿1•nUeS to be m(ffiitored, arKI the Stockbroker advises on such matters.
The cath hdd by the tharity will continue to be invesled in securities in line *Aith th8 investment strategy. A
suitable cash balanee will be maintained in order to meet the running Costs of the Charity and allow it to make
grants in line with the grant Ma￿n9 pclicy.
Financlal rèvièw
a. Golng concwn
The Tnjstees have Con￿der￿j the position of the Charity at the time of ggning the finanoal ststement. Having
taken all rdevanl into account, the Trustees have a reasLMabl8 exp8ctation that the Charity wll have
adequate res￿￿r¢eS lo C(￿￿nUe in operational existence for the for8seeable future. specifically al least t%%*lve
months from the date of sgning financial statements. As a the Trustees consbder it remains
appropriate lo adopt the ￿￿ng c￿l¢eM bags of accounting in preparing the finanaal statements.
Page 3

THE EARLE AND STUART CH*RITA8LE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
b. R•serM policy
The balance r)n the unrestrictsd in￿e fur*J is held to fthNJ future grant making and operational ￿Sts. As at 31
Octcthr 2021 this amounted to a deficit of £10,500 {2020." deficil £19,018}. There is a dogree of flexibility
inwrpK)rated into uniestrided reseNes, allth%irw3 the balanee lo fluctuate depending on the need of grant
T￿e1vi￿j tharities or apwls fr￿ s￿"r1e prq'ecls. The defiut arose in 2020 vknere the full ¢osl of a 3 year
pr(¥ecl was recc•Jnised in Ch￿tsb￿ expenditure for thal year. The levd of grdnts exceed&J inveslmenl incLYne
In the year to 31 October 2021 as the Charbty responded to the ne￿1 of local charities. as a result of the Covid-
19 global pandemic. More details can be found in nole 15 of these financial slalements.
The expendat40 endLvhTnenl fund is inve*ed to irm for the charity's gwt making activities. This
fund is managed in a ¥Yay to preserve the value of Ihe initial investrnenl. ho￿Ver if an application VRS received
or n89d idenbfied for a sgnificant Fjroiect. eonsideration thuil¢Y be gven lo ugn9 part of this fund. As at the 31
Odober 2021 total endtr•m)enl funds amounted lo £3.689,583 {2020.' £3,091,2&S).
The charity hdds no restrithd funds (2020". £Nil}.
Total funds as at 31 Octijber 2021 amtyjnl to £3.879.083 {2020.. £3.072.248).
c. Princlpal rlsks and uncortaintles
The Trustees have i¢kntified the maior ri4( as being fluctuations in the stock market and effect on the value
and income weld of investments held. St￿*brok￿$ are app￿nI￿￿ to advise on these aspects. At a Twslees.
meeting, it agre￿1 that the stetkbroker V•wld bo given authority lo manage the investrnent portfolio on a
di￿retionary ba*"s, V•ilhcxJt having to confirm any invesimenl recommeTrYab'ons wlh the Tnjslees al the regular
meetings before lakiThJ the ￿￿essary acticffi. The Tn* ar6 abl8 to review Ihe poslion every 6 months, and
an wthdr8w this auth(fftty if r￿esSary.
Slrudur•p govornance and manag•fflent
•. cons1ft￿lOn
The Earle and Stuart CharilaNe Trust is a rrylstw￿d d￿rity, numbw 11332￿). and is cc4Wiluted under 8 Trust
deed dated 24 Novernber 2009.
b. Methods of appolntmert or decllon of Trnst60s
Thè conlinuirKJ Twstoes wt for¥Yard any rec(#nmerKlations arKI make the decagws regarding new Trustees lo
be appointed. Training is provid&J to the Tnjstees as feqLAred.
. Organlsatlonal stnKlure and declslon4naklng pollclos
The Trustees attend Trustee¥ meeb'ry as required ar¥J are in regular contact lo a(kninisler the affairs of Ihe
Charity.
d. Flnancial ri$k management
The T￿SleeS have assessed the Maj￿ risks lo *thich cwations armj financ8s of the Charity are exposed,
including the ojrrent and I¢M9er term risks FKwd by the Covid-19 global pandgmi¢. The Trustees are satisfigj
that given the systems arKI procedures in place, the Charity's reserves and liquid resources, that all appropriate
steps have been taken to mikngale the Charity's exposure lo such risks.
Page 4

THE EARLE AND STu￿T CHARrrABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
statrnt ￿ Tnffjt•es' VOSPDn$ibililies
The Twste8s are re5[(￿sIble Ifx pryirwj the Tntst&s' rw aThJ the finwal *knents in aCC￿danCe with
8Fplicable law and unit￿ Kinglcln StaThJard5 (United KI￿dCffi Ger￿allY Accepted Ac¢ounting
Pr￿tr￿).
The law appli
le to dwrities in Engla￿1 & Wales wuires the Trustees to prepare finanaal statements for
h finwcial
vknich give a Irue ar•Y fair view of lh8 ￿*e of affairs of the Charity and of ils inccrfning res￿reeS
and application of resources. induding its ineune and expenditure. f(Y that WiC•J. In preparing these financial
statements. the af8 rwmred to..
select suitable ac£wnling pollu￿ and then ar¢Jly them congslentty,.
obwve the methojs and prinoples of the Chwitbe5 SORP IFRS 102).,
make jLKlgmgnts arKI a¢l￿nting eslimates that are re8x￿ble •rKI pr￿jan¢
stale vthether applicable UK ￿£¢￿ntsng Standards IFRS 102) have been fdbcth*J, subj.ect to any
material deparbjres di9Josed and explainwj in the fina￿181 statements;
prye Ihe finanaal statements on the g(in9 c£(wn bags uths it is inaFvwate to prewme that the
Charity thill conlnue in busnes
The Trustees are res￿￿11￿0 fty kow"rKJ adwle acxounling rwds th•t Wo lo sh(xv and explain
Ihe Charity's transaclions and disdose wlh reagxatle ￿￿racY at any time the finanoal poslion of the Charity
aTrJ ￿able Ihem to en9Jre that Ihe finwoal statement5 comply %*ilh the Charities Act 2011. the Charity
(Accwnts and Reports) Regulati¢Nts 2fJ)8 and provis￿￿ of the Trust d*4. They are also re¥)onsble for
safeguarding the assets of the chw.ty fLY tshirvJ rnas1￿8ble sty fof the Prev￿ti￿ and del￿tIon
of fra￿ and olher I￿egUlaritieS.
prffoved by of the rn￿b￿S of the bo*d of Twslees aTrJ sgned their b&t*f by.
James Morgan
Trustee
Dale..
Paga 5

THE EARLE AND STUART CH￿ABLE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2021
IndepeDdenl examlnrf8 r•port to Trustees of Tho Earl? and Stuart Charltable Trust (*h•
Charl￿)
I reyt to the charity Trustees (m my eXaminatiC￿ of the ￿nts of the Charity for the year ended 31 October
Rosponsibilitios and basls of rnport
As the Twste8s of the Charity you are respcyB￿e fc￿ Ihe preparati￿ of th& acc(￿nIS in acrAydance with the
requirements of the Charities Act 20111lhe 2011 Act'l.
I report in re£￿t of my examinati¢￿ ol the ChariW$ 8ccoJnts carried out wtion 145 of the 2011 Act
and in car￿.ng out my examination I have foll0v￿￿ the applicable Directions given by the Charity Commissicl)
under section 145(5Xb} of the 2011 Act
Ind•pendent examlnerfs statwnert
Your attention is dra%%n lo Ihe fact that the Charity has wepargd th8 acccthts in aCCordar￿e ￿1th Accwnting
and Reporting by Charits"es'. Staiement of Re¢￿￿mended Praclir* appliCa￿e lo eharilies preparir#J their
accounts in accordance knith the Finanual Reporb'ng Standard applicable in the UK ond Republic of Ireland
IFRS 102} in preference to the A£counling and ReFKxting by chariti￿ Statement of Recommended Practice
I￿ed IM 1 April 2005 vknith 1$ refe￿j lo in the extant regulations Ixrt has been v4itMrdvm.
l understand that Ihis has been done in (th fcy Ihe acc￿nts to prtr4ide a true fair view in aecord8nce wth
the Generally A￿eptfjd Accounting Praclic8 eff￿tive fLY reF*Nb"ng p￿"c￿lS Winning on or after 1 January
2015.
I have completed my examinati¢￿. I confiryn thal no matters have cy)me lo my attenlK)n in ¢mction vAth the
examinati¢￿ giving me re?￿nable cause lo believe that in any material rewt..
a(Lounting rec￿dS I￿re not kept in rew of the Charity as requred by sectic*) 130 of the 2011 kl"
the accounts do not ac£c*d *ith those re￿￿*
the aCC￿nIS do cc*nply V•ilh Ihe awfylicable requirements C0rwr￿ng the form content of
accounts sel out in the Charities {AcC￿nts and Rwrtsl Regulations 2008 other than any requirement
that Ihg accounts give a Inje ￿ fairf viaw is not a matter c(wdgrgd as part of an Indepwmjent
examination.
I confirm that are no othw matters to ￿kn1¢h y￿r attents'c￿ sh(xAd be dra￿￿ to ena￿e a proper
understsnding of the ￿OUnts to b8 rethd.
Other matter
Larking Gcphw LLP have provided tc(*-keeping S￿lee8 in relalion to th8 preparation of the &c(wnls. We
have applied FInar￿la1 CThJncil's Revised Ethi(81 Starmdard in undertaking Independent
ExaminatiC￿.
Page 6

## **THE EARLE AND STUART CHARITABLE TRUST** 

## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021** 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. 

Signed: Dated: 21 April 2022 Christopher Yeates FCA DChA 

**Larking Gowen LLP** Chartered Accountants Norwich 

Page 7 



THE EARLE AND STUART CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 OCTOBER 2021
Endowment iIDrestricted
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Income and endovmi•nts from:
Investments
79.633
79,633
97.966
T¢>tsl Inc¢)me and ondowments
79.633
79.633
97,966
Expendlture on:
Invgslment manag￿ent (x)sts
Charitatle a¢tiviti8s
20.938
24.931
17,492
260,206
71.115
Total expondiiu
45.869
71.115
116,984
277,698
Nét {expendltureylncome before net
galnslllosses) on Investm•nts
Net gainslllossesl on investments
145.869)
644.186
8.518
(37,351)
644,186
(179, 732)
(417, 107)
Net movement In funds
598.317
8,518
606.835
(596,839)
R•concillatlon of fvnds:
Tot81 funds brought fory￿r￿
Net movement in funds
3,091,266
598.317
(19.018)
8.518
3,072.248
606,835
3,669,087
(596,839)
Total funds ￿rrO•d forward
3.689,583
110.500)
3.679.083
3,072,248
The Ststement of fIn￿CIal aclivities irbdudes all gains and los*s recowised in the year.
The notes on page5 10 to 19 fom part of these finaniial statemen
Page 8

THE EARLE AND STUART CHARITABLE TRUST
BALANCE SHEEr
AS AT 31 OCTOBER 2021
2021
2020
Flxed assets
Inveslmenls
3.581.515
3,021,937
3,581,515
3.021,937
Curr•nt assets
Debtors
Cath at ba￿ and in haTKI
12
3A11
108.876
4,328
7t.￿3
112.187
75,831
Creditors". arn(￿nts falling due within
13
114.619)
(15.020)
Net current ass•ts
97.568
,811
Total assets less cwrent liabilities
3,679.OB3
3.082. 748
Qodito￿ amounts falling due after more
than one year
14
(10,500)
Total net assets
3.670.083
3,072,248
Charfty fund$
Endoyament funds
Unre51ricted funds
15
15
3,689.583
(10.500)
3.091,266
(19,018)
Totsl funds
3,679,083
3,072,248
The financial stat￿ents V•ere approved and aUth￿￿a for i￿e by the Trustees and sgned on their behalf by..
Jam
Trust
Date..
K Morgan
Thg notes on pages 10 to 19 fom part of these finanual ststements.
Pagg 9

THE EARLE AND STUART CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 OCTOBER 2021
Accounting pollcl•s
1.1 Basis of prop¥atlon of financial slatem•nts
The financial stal8ments have prepared in ￿CordanCe the Charities SORP (FRS 1021-
Accounting and Rep￿ing by cl￿rI￿"es.. Ststement of Rec(ffimendgJ Practice applicable to charities
prepariThJ their aec¢JJnts in ￿ar￿e ￿1th the Finanoal Re￿￿ng Slandard a￿liCable in the UK
and Repu￿1¢ of Ifeland IFRS 1021 (effective 1 JanL￿ry 20191, the Financial Reporbng Standard
applicable in the UK and ReP￿)lIC of Ireland {FRS 102} and the tharitigs Act 2011.
The finanual statements have been pwred to gve a Irue fairf view and have departed from
the Charities (Accounts and Reports) R￿Ul8￿C￿S 2(X)8 only to Ihe exlenl required lo provide a Irue
aTrJ fairf view. This depariure has invofve(J follohing th8 Charities SORP (FRS 102} Publish￿ 2020
ralher than the Ace(MJnting and Reportir@ by Charitie5: Statement of Recommendgd Practice
effective frcffi 1 April 2￿5 has since been v*1thdr•￿.
The Earfe and Stu¥i Charitsble Trust meets the definition of a public ber￿fit entity Und￿ FRS 102.
1.2 Golng ￿nCern
It is crrridwed that no material uncertainties exist thfjth regards to the ChariWs ability lo continue as
a gclng conwn. The finanoal stateM￿ts have, th￿8f￿ be8n prepara on 8 soing c(￿cern basis.
1.3 In￿m•
Al inwme is 1wn1s￿l thè Charity has enbuemwl to the Inc￿￿. il is probable thal the
inc(xne will be and Ihe amount of ir￿C￿e recavable can bg m&asured reliably.
1.4 Expondlture
Exp￿il￿e is rwThsed (￿ce thwe is a IwJal LY constructive obligaticm lo transfer ecc*)omic
benefit to a third party. it is prcthble thal a transfer of economic benefits V+ill be requirgd in
setuement and the amount of the Obligth.￿ can b8 measured reliably.
Charita￿0 activities and GovemarKe ccEts are costs IncJJrr￿j on the Charitys grant making
owats'ons including >Jpport costs and (x)sls relatir¥J to the grjvernance of the Charity apportioned
to charitatAe activitie&
Grants payat4e are charged in the year *then the offer is m&Je except in those vknere the
offer is conditional. gjch grants ba.ro ￿(￿JnI￿1 as expenditure vknen the conditions attsching are
lulfi118d. Grants offerej sjbjeet lo conditions vknich have not been mel at the year end are noted as
ccmmilmwt. but not accnHI as axpwmlilure.
l expenthture is indugvo of irrecoverable VAT.
1.5 Int•rnSt rec•ivable
Interest C￿ f￿J$ held on dep￿1 is ￿e1Vable and the amount can b8 measured
reliably by the Charity. this is normally Upon n￿riCatIon of the interest paid or payable by the
institution wilh vthom the fu￿lS arg deposited.
Page 10

THE EARLE AND STUART CHARrrABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Aeeountlng pollcles Icontinu•d)
1.6 Investments
Fixed asset investments are a fomi of fin￿rya1 instrument and are initially recognised at their
transaction cost 8ThY sUbSequ￿11Y measured at fair value at the Balance sheet date, unless lh8
value cannot be measured rdiably in bthich case it is meagJred 81 cost less Impai￿ent. Investment
gains and losses, ￿ether redised or uniealised. are combined and Presented aS.Gain￿(LOs¥eS} on
investments. in the Statement of Finanual Activities.
1.7 Debtors
Trdde and other debtors are wcgnised at the Settl￿)ent amount after any trade disctrjnt offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and In hand
Cash al bank and in hand includes cash and thcwi-term highly liquid investsmenls wth a short
maturity of three m￿thS or less frL¥n the dale of acquigbon or openirKJ of the dep09t or similar
account.
1.9 Llabllllles and provisions
Liabilities ¥8 racwised tsre is an Obligati￿ al thg Balarte sheet date as a result of a past
event. it is probable that 8 tr8nsfer of &(mmic benefit *ill be required in setuement, and the
artH￿nt of the setuemenl can be eStirnat￿ rel18￿y.
Liaknlilies are recogrused al the amount that ￿ Charity anti￿paleS il wll pay lo settle Ihe debt or
the amounl it has received as advan￿ Pa￿n￿lS the or sarvices il must provide.
1.10Flnancial instrum•nts
The Charity C￿lY has finanrial assets and financial liabilities of a kind that qualify as basc financial
instruments. Bassc ffinanoal instruments are initially r￿nISed at transaction value and
subsequently me89Jr&J al their seluemenl value wth th& excepbon of bank loarrs ￿1¢h are
9JbseqUen￿Y measur&J at am0￿S&j cosi ugrMJ the effects.ve interesi method.
1.11 Fund accounting
General fun(Js are unreslricled funds %*hich arg available for use at the discretion of the Trustees in
furtherarKe of the general 0￿ectiVeS of Ihe Charity aTrJ which have not desgnated for other
purposes.
Endovmient fuTrJs comFxi¥e of ￿ expendatAe fund to be retaIn￿j f¢X the benefit of the
charity as 8 capi'tal fund. Trustees have the disuelion to C￿nVert endcvmient capitsl into income
from charitable purpose&
Invesbnent income, gains and lows a￿ 8llcthted to the apwowate furKI.
Page 11

THE EARLE AND STLIART CHAR￿ABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Crltlcal accounting •slimatss and ar•as of judgment
Estimates and jud￿ents are ¢J)ntinually evaluat￿ ¥KI are bas￿1 on histrKi¢al 6xperience aTrJ other
factors. incJLKling expectati(￿$ of fubn events that ¥0 believ￿ to be rea￿¥ble uThJer th8
circumstanc8&
Criti￿1 acccAJnling eslimat8s and assufflptiorts:
The Charity makes estimates and asAJmptions conceming th8 future. The re￿I￿"nY acLounling esbmales
and 8sgJmplions wll, by definibon, sddcfft equal the reialed actual resulls. There are no estimates and
aswmplions that have a s•gr￿fIcant risk of causng a material adjustrnent lo the carrying amounts of
assets and liabilities the ne￿ finanaal year.
Inv•stm•nt income
Unre8trlct•d
funds
2021
Total
funds
2021
Dividends and interest receiv
Bank and stockbroker intere
79.631
79.031
79.633
79.633
Total
lunds
2020
fvnds
2020
Dividends and intwesl weivwj
Bank and strKkbrc*er interest
97,333
633
97,333
633
97,966
97,966
Investment management costs
Endowment
funds
2021
Total
funds
2021
Stockbrc&er fees
20,938
20,938
Pag8 12

THE EARLE AND STUART CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Investment management costs Icontinued
EndOwn￿nt
fvnds
2020
Total
funds
2020
St(Kkbroker f
17.492
17.492
Anatysls of expendltur• on charllable acllvlll
Summary byfund ty
Endowment Unrestrlctsd
funds
funds
2021
2021
Total
funds
Grants (note 61
G¢)vemarTh costs (note 71
24,931
64.￿9
89,500
24.931
71.115
96.046
Unrestricted
lunds
2020
Total
fvnds
2020
Grants (note 6}
G0Vwnar￿e co*s (note 7)
251,5C
8,706
251.5QO
8.706
260,206
260,206
Pagp 13

THE EARLE AND STUART CHARrrABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Grants
2021
2020
EACH
Glebe Hou* Schcd- The Dc¢king Sehdarthip
Gresham's Schod D(￿ing Scholarthip
Lithelifts
Motor Neurcne Disease A￿lation
Ne1￿.$ Jouméy
Ntjfdk Community Foundati(￿ - Covid Appeal
Norfolk Community Foundab"on - Cdlege Buwi8S
Norfolk Howice Tapping Hws8
Norfdk Reading ￿￿eCt
pri￿1118 Baccffl N(xlolk Hospice
Scotty's Little Soldi&rs
Sl Martin's HousiThJ Trust
The Pandora Prc¥ecl
The Purfleet Trust lQng's Lynn
University of East Anglia PhD Supp(Kt
WymoTrJham S¢h¢A t)(￿k￿9 Scholarthip
10,01)0
6.000
10,LklO
12.000
25.000
21.IX)O
5.250
1,000
5.250
150.(KL)
21,￿0
5.000
5.000
31,500
89.500
251,500
AJI grants V•ve made lo institutirMk8: Tr) ￿ants *re paid to ir¥Sviduals.
In the prior wicmj the charity enteraj into an awnenl to co4und a PhD ￿Udent at the University of
East Anglia a Dementi&Azheimerfs pro1￿1 over a peri(*J of 3 years and up to a maximum of
£31,500. The g￿￿nI of £31,500 was recognised in the prior pen'crtd accounts. the seeond inslallment of
£10.5(Kl was paKI in this perK¥I.
Expgndftur• on gov•rnan¢o
Unrostrlcted
fvnds
2021
Total
funds
2021
Indepethl examinerfs fee
Management and admirM*rati
2,300
4,246
2.300
4246
Page 14

THE EARLE AND STU*AT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
UMestriL#8d
funLIs
2020
Tolal
fvnds
2020
INJependenl examinerfs fee
Mark7gemenl and administrati(
930
7,7T6
930
7,7T6
8. 706
8, 706
Indgp•nd•nt examin•rfs rnmunw*ion
2021
2020
Fees payable to the Charivs Indepe￿Ient examin￿ for lh6 indeF*TrJent
examinalion of the Charity's annual ￿Unts
930
The Charity has no employees. The Trustees are to be the key manag8menl of the
Charity. did not receive any remul￿ration {2020- £NILI.
No empk)yee re￿iVed remuner*ion amounting to more than £60.OCQ in either year.
10. Trustees. r•muneration and expens
Duiing the year. no Trustees re￿Ve￿ any remuneratic￿ or 0￿r benefits12020- £NIL).
During the ygar erKled 31 Octd>er 2021. rn Twste8 exp8nse$ have been incurred (2020- £NIU.
Page 15

THE EARLE AND STUART CHAR￿ABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
11. FIX￿ ass￿ Investmonts
Llsted
Investmènts
Cost or valuation
Al 1 Novemtw 2020
Additions
Disposals
Revaluaticns
3.021,937
607.666
(692.274)
644.186
Al 31 Octobw 2021
3.581,515
hist¢yi¢al cost of fixed asset investments held at 31 Octeber 2021 vras É2.695.750 12020..
f2,639,6471.
All fix￿1 8ssel investrnents are held in the UIQ
12. Debtors
2021
2020
Duo within one year
Prepayments arKI ac(yuaJ inccffie
3.311
4,328
3,311
4.328
13. Crodltors: Amounts falling due wlthiTh on• y
2021
2020
Acuuals
Acuuwl grants payable to inslitirtirms
4.119
10.500
4.520
10,500
14619
1&020
Page 16

THE EARLE AND STUART CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
14. Credltors: Amounts falllng du• aftw more than one year
2021
2020
Ac£rued grants pay&Jle to instiluii￿$
10,500
15. SLitement of funds
Statement of funds . current year
Balance at 1
Novembor
2020
Balance at
Gains1 31 October
(Lossos)
2021
Incom¢ E￿ndIture
Unrestrlcted furKIs
Goneral Funds
(19.018}
79.633
171.115)
(10,500)
Endowment furbds
uesl from A Stuart
3.091.266
(45.869)
644,186 3,689,583
Totsl of funds
3.072.248
79.633
(116.984)
644.186
3,679,083
In the pri¢y ygar the charity c(xnmitted to ¢￿fur*￿ a PhD slu¢Y&)t at the University of East Ans4ia for a
Demen1i*Azh￿rne￿s prq"ect. The full cosl of Ihis 3 year project was been recojnised in the year ended
31 October 2020. The remaining in*allmenl of this grant. as oJdin&J in Th)te 13, will be funded from
future unrestricted income and re￿￿e￿nts the deficit on unre&ricled fuThJs al the year ￿￿.
The trustees believ& Ihat the levd of fft avrard&Y in thg ygar lo 31 Oct(l)er 2022 ￿111 not exceed
investm￿t inccme for that period consequenvy unrestricted funds ￿111 retum to a surplus po*tion.
Page 17

THE EARLE AND STUART CHARrrA8LE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
15. Statement of funds (contln
Stat•menl of fvnds - wior year
Balance al
Balance 81
Gainw 31 October
Inc4Th &peThYiturg (Losses)
2020
2019
Unrestrkted funds
General Funds
143.222
9T.966
(260.206)
(19,018)
Endovlment funds
Bequest frC￿ A Stuart
3,525.865
(17,492) (417. 107J 3,1%11,266
Totsl of fund$
3,669,087
97.966
(27T,698) {417. 107) 3,072,248
Page 18

THE EARLE AND STUART CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOEO 31 OCTOBER 2021
1& Analysls of net ass¢ts behwen funds
Anafysls of net a8s•ts bot*4en funds- curr•nt y•ar
Endowrn•nt Unrestrlcted
funds
funds
2021
Totsl
funds
2021
Fixed asset investsnents
Current assets
Creditors due within (Th year
3,581,515
109.887
11.8191
1581.515
112.187
(14.619)
112,8CKI)
Total
3,689.583
110,5001 3,679.083
Analysis of net assets betw•en fvnds- PTior ye
Total
funds
2020
furtls
2020
funds
2020
Fixed asset investments
Current assets
CrgJilors due Ylithin ¢Me
Crditors due in than ￿e year
3,021.937
69.329
3,021,937
T5,831
(15.020J
(10,500J
6,502
(15.020J
(10.5LX))
Totsl
3,091,266
(19.018) 3,072.248
17. Relatsd party trwwctions
A Trustee is con￿￿ted lo a rim) pr(Niding wofessonal athice to the Charity. The firm charges the
Charity for thwr services as p￿rnItted in the Charitys Trust deed. The amounts paid under these temis
during the pwicxl are as foll
2021
2020
J K Morgan - Morgan Trusts and Tax PlannirvJ Limited. ScAieitors
4,140
5.580
4140
5,580
The Charity hdds cash funds in a m￿an Trusts and Tax Hanning Limited dient accc#mt. The alxount
bala￿e at the 31 October 2021 vras £3.279 {21T20.. £5,465).
Page 19