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2024-10-31-accounts

Charity number: 1133260

THE EARLE AND STUART CHARITABLE TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

THE EARLE AND STUART CHARITABLE TRUST

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

THE EARLE AND STUART CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024

Trustees James K Morgan J Anne Richardson Charity registered number 1133260 Principal office Westgate House 42 Chapel Street King's Lynn Norfolk PE30 1EF Accountants Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE Investment Managers Brown Shipley & Co Limited Richmond House 16-20 Regent Street Cambridge CB2 1DB

Page 1

THE EARLE AND STUART CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2024

The Trustees present their annual report together with the financial statements of the Charity for the 1 November 2023 to 31 October 2024.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objectives and activities

a. Policies and objectives

The Trustees shall hold the capital and income of the Trust fund upon Trust to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of, such exclusively charitable objects and purposes for the public benefit in the United Kingdom as the Trustees may in their discretion see fit.

The Trustees may in their discretion, for the period of 21 years for the date of the Trust deed, instead of applying the income of the charity in any year, accumulate all or any part of such income by investing the same, and the resulting income, in any investments authorised by this deed or by law as an accretion to and as part of the capital of the Charity, without prejudice to their right to apply the whole or any part of such accumulated income in any subsequent year as if the same were income of the Charity arising in the then current year.

b. Grant-making policies

The Charity objects are achieved by providing financial grants to UK registered charities that provide assistance directly to beneficiaries. The levels of grants made are determined by reference to available funds in the Trust's bank accounts and the nature of suitable projects.

c. Main activities undertaken to further the Charity's purposes for the public benefit

The Trustees confirm that, in exercising their powers and duties, they have complied with the duty to have due regard to the guidance on public benefit published by the Charity Commission.

The Charity's charitable activities consist of making grants to institutions within the UK. The Trustees consider that the aims of these institutions are for the benefit of the public and therefore as principally all of the Charity's activities are directed towards these institutions, the Charity's aims are carried out wholly for the public benefit. In the event that they became aware of any concern as to the public benefit of any of the Charity's beneficiaries, the Trustees would consider their actions having regard to the Charity Commission's above-mentioned guidance.

Page 2

THE EARLE AND STUART CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024

Achievements and performance

a. Review of activities

The Charity's principal source of income is derived from its investments, the income from which was £82,971 (2023: £79,584) for the year.

Grants totalling £101,075 (2023: £81,000) were committed to in the year, including £20,000 that is payable over the next two years. The grants were made to 18 institutions as detailed in Note 6.

The net expenditure, after grants and operational expenses of £130,902 (2023: £108,651) was £47,931 (2023: £29,067).

b. Investment strategy

The Trust Deed gives the Trustees the power to acquire and dispose of investments as they see fit, as well as powers to appoint a suitably qualified investment manager with delegated powers of investment, subject to an annual review. In practice, half yearly reviews take place and the investment manager has discretionary power. Where possible, investments are considered as to their suitability taking into account social and ethical issues, as well as risk, capital and income aspects.

The investment portfolio is managed to provide a regular source of income and as such constitutes a low to medium risk portfolio, incorporating a concentration of high income yielding securities.

The Charity's investment portfolio generated a deficit for the year (as shown on the Statement of financial activities), reflecting overall market performance. The portfolio performance continues to be monitored, and the stockbroker advises on such matters.

The cash held by the charity will continue to be invested in securities in line with the investment strategy. A suitable cash balance will be maintained in order to meet the running costs of the Charity and allow it to make grants in line with the grant making policy.

Financial review

a. Going concern

The Trustees have considered the position of the Charity at the time of signing the financial statement. Having taken all relevant factors into account, the Trustees have a reasonable expectation that the Charity will have adequate resources to continue in operational existence for the foreseeable future, specifically at least twelve months from the date of signing these financial statements. As a result the Trustees consider it remains appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Page 3

THE EARLE AND STUART CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024

b. Reserves policy

The expendable endowment fund is invested to generate income for the Charity’s grant making activities. The Trustees also have the power to convert the endowment into income funds.

This fund is managed in a way to preserve the value of the initial investment and generate income, however if an application is received or need identified for a significant project, consideration is given to using part of this fund. At the 31 October 2024 total endowment funds amounted to £3,667,375 (2023: £3,273,235).

Unrestricted funds are held for future grant making and operational costs. As 31 October 2024 this amounted to a balance of £Nil (2023: £Nil), reflecting that unrestricted funds have been fully applied to grant giving and the administration costs of the Charity.

As the endowment is expendable, the Trustees consider it acceptable to hold no or low levels of unrestricted funds, and the balance will fluctuate depending on the need of grant receiving charities or appeals for specific projects.

The Charity holds no restricted funds (2023: £Nil).

Total funds as at 31 October 2024 amount to £3,667,375 (2023: £3,273,235).

c. Principal risks and uncertainties

The Trustees have identified the major risk as being fluctuations in the stock market and effect on the value and income yield of investments held. Stockbrokers are appointed to advise on these aspects. At a Trustees' meeting, it was agreed that the stockbroker would be given authority to manage the investment portfolio on a discretionary basis, without having to confirm any investment recommendations with the Trustees at the regular meetings before taking the necessary action. The Trustees are able to review the position every 6 months, and can withdraw this authority if necessary.

Structure, governance and management

a. Constitution

The Earle and Stuart Charitable Trust is a registered charity, number 1133260, and is constituted under a Trust deed dated 24 November 2009.

b. Methods of appointment or election of Trustees

The continuing Trustees put forward any recommendations and make the decisions regarding new Trustees to be appointed. Training is provided to the Trustees as required.

c. Organisational structure and decision-making policies

The Trustees attend Trustees' meetings as required and are in regular contact to administer the affairs of the Charity.

Page 4

THE EARLE AND STUART CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024

Structure, governance and management (continued)

d. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible 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 Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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 other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

James K Morgan Trustee Date: 09 Dec 2024

Page 5

THE EARLE AND STUART CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024

Independent examiner's report to the Trustees of The Earle and Stuart Charitable Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 October 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

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: Christopher Yeates

Dated: 09 Dec 2024 FCA DChA

Larking Gowen LLP

Chartered Accountants Norwich

Page 6

THE EARLE AND STUART CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024

Note
Income and endowments from:
Investments
3
Total income and endowments
Expenditure on:
Investment management costs
4
Charitable activities
5
Total expenditure
Net expenditure before net gains on
investments
Net gains on investments
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Endowment
funds
2024
£
-
-
21,307
-
21,307
(21,307)
442,071
420,764
(26,624)
394,140
3,273,235
394,140
3,667,375		 Unrestricted
funds
2024
£
82,971
82,971
-
109,595
109,595
(26,624)
-
(26,624)
26,624
-
-
-
-		 Total
funds
2024
£
82,971
82,971
21,307
109,595
130,902
(47,931)
442,071
394,140
-
394,140
3,273,235
394,140
3,667,375		 Total
funds
2023
£
79,584
79,584
19,833
88,818
108,651
(29,067)
45,001
15,934
-
15,934
3,257,301
15,934
3,273,235

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 9 to 18 form part of these financial statements.

Page 7

THE EARLE AND STUART CHARITABLE TRUST

BALANCE SHEET AS AT 31 OCTOBER 2024

Note
Fixed assets
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Creditors: amounts falling due after more
than one year
14
Total net assets
Charity funds
Endowment funds
15
Total funds		 154
49,552
49,706
(14,601)		 2024
£
3,642,270
3,642,270
35,105
(10,000)
3,667,375
3,667,375
3,667,375		 668
148,352
149,020
(4,321)		 2023
£
3,128,536
3,128,536
144,699
-
3,273,235
3,273,235
3,273,235

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

James K Morgan

Trustee Date: 09 Dec 2024

The notes on pages 9 to 18 form part of these financial statements.

Page 8

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Earle and Stuart Charitable Trust meets the definition of a public benefit entity under FRS 102.

1.2 Going concern

The trustees have considered the charity’s position at the time of signing the financial statements, and have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable activities and Governance costs are costs incurred on the Charity's grant making operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 9

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

1. Accounting policies (continued)

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Endowment funds comprise of an expendable endowment fund to be retained for the benefit of the charity as a capital fund. Trustees have the discretion to convert endowment capital into income funds.

Investment income, gains and losses are allocated to the appropriate fund.

Page 10

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

2. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant judgements or key sources of estimation uncertainly that undeprin these financial statements.

3. Investment income

Unrestricted
funds
2024
£
Dividends and interest received
81,899
Bank and stockbroker interest
1,072
82,971
Unrestricted
funds
2023
£
Dividends and interest received
77,458
Bank and stockbroker interest
2,126
79,584		 Total
funds
2024
£
81,899
1,072
82,971
Total
funds
2023
£
77,458
2,126
79,584

4. Investment management costs

Endowment Total
funds funds
2024 2024
£ £
Stockbroker fees 21,307 21,307

Page 11

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

4. Investment management costs (continued)

Endowment Total
funds funds
2023 2023
£ £
Stockbroker fees 19,833 19,833

5. Analysis of expenditure on charitable activities

Unrestricted
funds
2024
£
Grants (note 6)
101,075
Governance costs (note 7)
8,520
109,595
Unrestricted
funds
2023
£
Grants (note 6)
81,000
Governance costs (note 7)
7,818
88,818		 Total
2024
£
101,075
8,520
109,595
Total
2023
£
81,000
7,818
88,818

Page 12

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

6. Grants

Meadowgate Academy for highly disabled children
The Benjamin Foundation
The British Red Cross- Ukraine Appeal
The Docking Scholarship - Glebe House School
The Docking Follow on Scholarship - Gresham's School
The Docking Follow on Scholarship - Wymondham College
East Anglian Children's Hospice
East Anglian Air Ambulance
The Matthew Project
Nelson's Journey
Norfolk Community Foundation - College Bursaries
Snettisham Cricket Club Appeal
St Martin's Housing Trust
The Purfleet Trust King's Lynn
Littlelifts
Norfolk Community Foundation "Surviving Winter"
Well Boring
British Red Cross Turkish Earthquake Appeal
Tapping House Hospice
Priscilla Bacon Hospice
King’s Lynn Food Bank
Royal Norfolk Agricultural Assoc Education Fund
UEA PhD Scholarship - dementia research		 2024
£
2,000
1,000
1,000
10,000
12,000
-
1,000
1,000
1,000
1,000
21,000
-
5,000
5,000
1,000
2,000
1,075
-
3,000
3,000
-
-
30,000
101,075		 2023
£
-
1,000
2,000
10,000
6,000
6,000
1,000
1,000
1,000
1,000
21,000
1,000
5,000
5,000
-
2,000
-
2,000
5,000
5,000
1,000
1,000
4,000
81,000

All grants were made to institutions; no grants were made to individuals.

In the period the charity entered into an agreement to co-fund a PhD student at the University of East Anglia for a Dementia research over a period of 3 years and up to a maximum of £30,000. The first instalment of £10,000 was paid in this period.

Page 13

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

7. Expenditure on governance

Unrestricted
funds
2024
£
Independent examiner's fee
2,760
Management and administration
5,760
8,520
Unrestricted
funds
2023
£
Independent examiner's fee
2,640
Management and administration
5,178
7,818
Independent examiner's remuneration
2024
£
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
2,760		 Total
funds
2024
£
2,760
5,760
8,520
Total
funds
2023
£
2,640
5,178
7,818
2023
£
2,640

8. Independent examiner's remuneration

9. Staff costs

The Charity has no employees. The Trustees who are considered to be the key management of the charity, did not receive any remuneration (2023 - £NIL).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 October 2024, no Trustee expenses have been incurred (2023 - £NIL) .

Page 14

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

11. Fixed asset investments

Cost or valuation
At 1 November 2023
Additions
Disposals
Revaluations
At 31 October 2024		 Listed
investments
£
3,128,536
2,516,634
(2,444,971)
442,071
3,642,270

The historical cost of fixed asset investments held at 31 October 2024 was £3,015,367 (2023: £2,744,425).

12. Debtors

Due within one year
Prepayments and accrued income
13.
Creditors: Amounts falling due within one year
Accruals
Accrued grants payable to institutions
14.
Creditors: Amounts falling due after more than one year
Accrued grants payable to institutions		 2024
£
154
154
2024
£
4,601
10,000
14,601
2024
£
10,000		 2023
£
668
668
2023
£
4,321
-
4,321
2023
£
-

Page 15

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

15. Statement of funds

Statement of funds - current year

Unrestricted
funds
General Funds
Endowment
funds
Endowment
Funds - all funds
Bequest from A
Stuart
Total of funds		 Balance at 1
November
2023
£
-
-
3,273,235
3,273,235
3,273,235		 Income
£
82,971
-
-
-
82,971		 Expenditure
£
(109,595)
-
(21,307)
(21,307)
(130,902)		 Transfers
in/out
£
26,624
-
(26,624)
(26,624)
-		 Gains/
(Losses)
£
-
442,071
-
442,071
442,071		 Balance at
31 October
2024
£
-
442,071
3,225,304
3,667,375
3,667,375

Endowment funds comprise of an expendable endowment fund to be retained for the benefit of the charity as a capital fund. Trustees have the discretion to convert endowment capital into income funds.

£26,624 has been transferred out of endowment reserve to fund excess of unrestricted expenditure over unrestricted income.

Page 16

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
General Funds -
all funds
Endowment
funds
Bequest from A
Stuart
Total of funds		 Balance at
1 November
2022
£
-
3,257,301
3,257,301		 Income
£
79,584
-
79,584		 Expenditure
£
(88,818)
(19,833)
(108,651)		 Transfers
in/out
£
9,234
(9,234)
-		 Gains/
(Losses)
£
-
45,001
45,001		 Balance at
31 October
2023
£
-
3,273,235
3,273,235

Page 17

THE EARLE AND STUART CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Endowment
funds
2024
£
3,642,270
49,706
(14,601)
(10,000)
3,667,375		 Total
funds
2024
£
3,642,270
49,706
(14,601)
(10,000)
3,667,375

Analysis of net assets between funds - prior period

Fixed asset investments
Current assets
Creditors due within one year
Total		 Endowment
funds
2023
£
3,128,536
149,020
(4,321)
3,273,235		 Total
funds
2023
£
3,128,536
149,020
(4,321)
3,273,235

17. Related party transactions

A Trustee is connected to a firm providing professional advice to the Charity. The firm charges the Charity for their services as permitted in the Charity's Trust Deed. The amounts paid under these terms during the period are as follows:

J K Morgan - Morgan Trusts and Tax Planning Limited, Solicitors 2024
£
5,700
5,700		 2023
£
5,100
5,100

The Charity holds cash funds in a Morgan Trusts and Tax Planning Limited client account. The account balance at the 31 October 2024 was £308 (2023: £49).

Page 18

SIGNATURE CERTIFICATE

Document

Name S050400 Earle & Stuart Charitable Trust 31 10 24 - Final accou Creator Yulia Varvel (Yulia.Varvel@larking-gowen.co.uk) Date 06 December 2024 17:04:24 UTC Identifier f3eccd09-fd0d-4230-9e32-2c494c8f3c31

Signers

james@morgan-ttp.co.uk

E-mail james@morgan-ttp.co.uk Signed 09 December 2024 14:30:05 UTC IP address 51.52.198.185

Chris Yeates

E-mail chris.yeates@larking-gowen.co.uk Signed 09 December 2024 15:18:52 UTC IP address 195.224.97.204