Registered number: 07121867 Charlty number: 1133525 Chrysalls Grant Maklng Trust (A company Ilmited by guarantee) Annual report 31 March 2025
Chrysalls Grant Maklng Trust (A company limlt•d by guar•nt•o) Contents Reference 8nd admlni8tr8tlve details Pa98 Directors. report Dlrector8' respDn8ibili118S Statement Independent auditoffs report to the membefs of Chrysali8 Grant Making Trust 7-10 Statement of financial aaivrtie8 11 Balance Sheet 12 Notos to the financial statements 13-17
Chrysalls Grant Making Trust (A company limlted by guarante•) Reference and admlnlstratlve detslls Year ended 31 March 2025 Olrectorn Mark Evan8, Chaimian Sarah Evans, Seueiary Andrew Playle Thomas Evans Hannah Evans Company rnglster•d number 07121867 Charlty r•gl•tsred numb•r 1133525 Ro918t•r•d offl Pipaf Close House Aydon Road Corbridge Northumberland NE45 5PW Company •ecr•tary Sarnh Evans Ind•p•nd*nt audltor UNW LLP Chartered Accountants Citygate St Jame8, Boulavard Ntsycastle upon Tyne NE14JE Bank•rn UBS 1 Finsbury Avonue London EC2M 2A Sollcltorn Mills & Reove LLP 1 Cty Squarè Leeds LS12ES Page 1
Chrysalis Grant Making Trust (A company Ilmltod by guarantoe) Director8, report Year ended 31 March 2025 The direGtor8 (who are also trustee8 under ch8rity law) present their annual r8POrt together wlth the aLKllted financ1 statements of the Company for Ihe year 1 April 2024 to 31 March 2025 The directors confinr that the annual report and financial 5tat6ment8 of the charitable company comply with the current 8latutory requirernents, the ffjquirements of th6 charitable companls goveming document and tho provisions of the Statement ot Recommended Practice (SORP) applicable to chanties prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effects've 1 January 2019). Since the company qualifies as small under seclion 382 of the Companie3 Act 2006, the strategic report uired of medium and 18rge companies urrtler the Companies Act 20( (Strategic Report and Direclo(8' Report) Ragulabons 2013 ha8 been omrtbj. ObJ•ctivu and •ctlvltioo • Pollch8 and obJ•ctlv The only objectives fof which the trust 18 established are such ganer81 chantablo purposes for the public bonefrt as the directors in their di8crets.on decide. The director3 confirm that they have referred to the guidance contained in the Charity Commrdsion's general gUanCe on public benefit when rewewing the Trust's aim8 and ObjecNes and in Settin9 th8 grant moking policy for the penod. In setting oectiV88 and p18nning for activilios, th& dlrectors have glven due consideration to gener81 guidanco published by the Ch8rity Commission relating to public ben6fiL including the gutdance 'PUbl benefit.. running charity (P82)'. 8trat•gle• for ichlovlng obJ•ctlvo• The trust aims to meet this obiactive by making gr8nt8 to organlsations or IndividuAls that thay themBelves provido public ben•fit. It aim3 to prioiitise harder to fund cau5e8, to spread funding betsveen Ioc81 (North EA8t England), naiK)nal 8nd International causas. to support both c8Pital projects and core funding with "One, donation¥ to act without di8criminats.on on any grounds Gr•nt applio•tl•n pr•G•durv The trust Invttes applications via its website WbY¥V.chTyBalis-trust.co.uk All applicats'ons for fund*ng roceivad by trust are reviewed, by the secretary, agalnst agreed criteria If they pass the pr61iminary screening process thoy are then consid&red at the biannual directors meetsng when major granls are awarded. There 18 an establi&hed procedur6 for making grants ot less than £1,001 at any time. Page 2
Chrysalls Grant MakSng Trust (A Gompany limft•d by guarnnte•) Directors, report (continuod) Year ended 31 March 2025 Achl¢v•m•nta and porfomianc• • Grants awardod In accordarKY th the Trusys oblectives and granl making policy, grants totalling £32.369 were awarded In the perlos. A full list ol donations mad8 is sei out In the lable below, Grnnt r1pnt B•n•fft Amount {£) Gregg's Foundation ContrlbutK)n to the H8rd8hip FuTrJ fvyoviding Small grants to indivKluals In need in the North East of England Contrlbution to refill statlons for 8urplu8 food in thè North-East 6.000 of England 7.500 F8reshar8 Cry In th8 Darf¢ Solar panels and malntenece Casa Lumina hne In Romania 5.965 Zambia Orph8ns Aid UK Contribution to 8chool unifonn manufacture projecL Zambia 2,904 IMPACT Foundation contribuln to cataract surgery in Bang18desh 5.000 Alzeimefs As80c18b'on Contnbution to core fundlng 5,000 FSnanci•l r•vl•w • Flnanclal rnvl•w The 8ttach8d fin8ncial statoments show the current state of the trusys finances that tha director8 con51der to ba sound. The directors hav8 considered a Fong-term. con$ervalive Investrnont strategy thal 18 ¥uyected to an ethlcal scmn and i• r•viow•d •t ••¢h dir•ctorg meo1in9. • R•8•ThM pollcy At 31 March 2025. total reserves are £2,208.913 of which £2.182,700 are tled up in investments held for income generation. Remaining total Yree. unrestricted reserves of £44,213 represenl approximately 6 months of granl making activit$.. the directors believe these re6erve8 are SUfflent lo support dDnats'on8 as they are agreed and this policy is reviewed at each dir8ctor8 meetsng. Golng coftc•rn After conslderatlon and making appropriate enquiries, the directors have a reasonable expectation that the company h85 adequatg resources to conts'nue in operational exislence for the foreseeable future. For th reason, thoy contr'nue to adopt the going concern basis in preparing the financial statemgnts. Ftsrther details regarding the adoption of the going concarn basls can be found in the accounting pollcies. Page 3
Chrysalls Grant Maklng Trust (A company limltod by guarante•) Directors. report (continued) Year ended 31 March 2025 StrUur•I gov•rnanc• and manag•m•nt • COn•t1tion The company Is registergd as a charltable company limlted by guarantee and was set up by a Memorandum of ASSocli0n on the 16th February 2010 (amended by Spe81 resolution 10 July 2015) <regi8tered charity number 1133525). The prinapal object of the company is lo prowde public benefft Ihrwh careful stthvard8hip of Ihe donation8 upon which the trust was established. R•crultm•nt and appolntmmt of dlr•ctorn Th8 number of dlrectors shall not be less than three but shall be no mora than seven. The directors have tho power at any tlme, to appoint any p8rson who Is willing to be a director. A person shall nol be entilw lo act 8$ a director until they havg 8ignod a dedaratbn of a¢c*ptance and willingness to act In accordanco with the Arts'des of Assoc19tn • Org•nlutional •tru¢tur• •nd d•ct•lon making At biannual director3 meetings. the directors agreo the broad strategy for the trugt. induding the conSeratiOn of grant making, inveslmenl, roserv6s and risk management. The (Jay to day administrabon of grants and the processing and handling of the 8ppllcats.ons 18 delegated to the secretary. • Rhk managMi•nt The directors conslder variabilty of investment returns on the invostrnent portfolio a r18k and have therefor• agreed a long lemi. conservatlV8 investment strategy that is revwed at each diréctors meots'no, The dlrector8 Consider that whèthér the funds dlsbursed are used for the Intended charftable purpo388 is an operatn81 risk and therefore have a mechanism for r8FQrting end reVWing the grant awards go that the directors can ensure that the fijnds are used to provide public benefit 88 intended. . Pl•n8 for future p•rlod• The dlroctors aim to contlnue to grant award8 to organisaon8 or Individu818 provkling wblic benelit. Dl•¢108ur• ot Inforn4tlon to •udttor Each of the persons who are directors at th8 tlme when this dlrectorn, report is approved has confirmed that: 80 far as th8t dlrector is aw8r•. ther• is no relevant audrt [nfoffnatn of whith the eharitrls auditor unaware. and that director has taken all the steps that ought to have been taken as a diredor in order to be tbvare of any relevant audit inform4tion and to establlsh that the charitable companls audltor is aware of that Information. Page 4
Chrysalls Grant Making Trust (A ¢ompany Ilmlt•d by gu•ranto•) Dlrectors. report (contlnued) Year ended 31 March 2025 Audltor Tho auditor, UNW LLP, has indicated rt's willingness to continue in offi'ce. The designated directors wlll propose a motion reaPp,n1Ing the auditor at a meeting of tha directors. Approved by order of tho member8 of tho board of directors on 17 December 2025 and swned on their behalf S•rnh Evan• Director Page 5
Chry3alis Grant Making Trust (A company Ilmlted by guarants• Ststement of directors. respon8ibllltle8 Yoar ended 31 March 2026 Th8 directors (who are also the diwtor8 of the company for Ihe Purposes of company law) are r8sponsible for preparing the director8, report and the financial statements in 8ccordance with applicab5e and United Kingdc¥n Actounb'ng Standards (United Kingdom Generally Accepted Accounlng Practice). Company law fequires th6 directors to prepare financi81 statements for oach financial . Under company l&v, the dirgctofs must not approve the financial staternenls unles8 they are sabsfied that they give a tru8 and fair view ot ttr* stste of affairs of the company and of rts Incoming resources and appl&?tlon of r8$ourc&s. including it8 income and expenditure, for thal period. In preparing these financial slatefflents. the directors are required lo.. 88lect suitable accounting p)licies aTrJ then apply them consislently,. observe the Methods 8nd pnnciples of the Charities SORP (FRS 102)" make judgments and accounting estimates thal a reasonable and prudent, state whether appltsble UK Accounting Standards (FRS 102> have been followed, subject to 8ny matenai departure8 dBc1088d and 6xplained in the financi81 stslements.. prepare the fin8n¢ial statements on Iho golng Concom basis unl8s& it is inappropriate to presume that tho company will ccntsnu• In business. The directors are re8pon8ible for keeping adequate accounting records thai are sufficlent to show and éxp181n the company's transactions and disclose with ffjasonable accuracy at any lime the financi81 posrtion ol the company and enable them to ensure that the financial st8tements comply wth the Companies Act 20C6, They are also responsible for ¥afeguarding the assets of the cornpany and hence for taking reasonable 81ep8 for the prevention and dotection of fraud and other irregul8nties. Approved by order of the m•mber8 of the board of director8 on 17 December 2025 and signed on its behalf by", Sarah Evan• Director Page 6
f4 Independent Audltorfs Report to the members of Chrysalis Grant Making Trust Oplnlon Wa have 8udrted the financial statements of Chrysalis Gr8nt mang Trust (the '¢haritable company) for the year anded 31 March 2025 which comprise the Statement of financial aclrvitie8, the balance Sheet, the statement of c4sh flow8 and the related notes, Including a summary of significant accounting policies. The tlnancial reportlng framework that has been appligj in their preparation is applicable 18w and United Kingdom Accounting Standards, Including Financial Reporting Standard 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepiad Accounting Practice). In our opinion the financial statementa.. gfve a true and f8ir view of the state of the charftsble etynpanV8 8ffairs a8 at 31 March 2025 and of Its incoming r880urce8 and application of resource8. indudlng its income and 8xpendrture for the year then ended., have beèn Pfoperly wepared in accordancé with Unit&J Kingdom Generally Accepied A¢counting Practico.. and have been prepared In accordgnce with th8 requirements of the Companles Act 2006, Ba•1• lor oplnloft We conducted our audit In acc¥)rdance wtlh International Standards on Auditing (UK) ('ISAs (UK),) and 8ppIic8ble law. Our re8ponsibilrties under those stand8fds are further d88cntsJ in the 'Auditorfs responsiblliti6s for the audit of the financial statemonts, section of our report. We are Independent of the ¢*arrt8ble company in accor(Yance with the elhic81 requirements that are relev8nl to our audit of the financlal st8tements In the United Kingdom, including the Finana81 Reporting Councll's Ethic81 St8ndard. and we h8ve fulfilled our other ethical responslbilitie8 in accordance with these requirements We believe that the audit evidence wg hAVe obtained i? 8uffioent and appropriate to provKle a basis for our Iwlnion. Conclu•ion• rnlAling to golng conum In auditlng the financial statements. we hav• concludèd thai the directors, usè of the going concern basS8 of accountin9 In the preparatlon of the financial s14tements Is appropriate. Based on the work we have perfomed, we have not identffjed any maten81 uncertainties relating to events or condition8 that. individually of collecbvely, may cast SnIfiCant doubt on the chantable companys abilty to continue 88 a going concem for a perlod ol at least twelve months from wh6n th6 financial statements are authorised for isgue. Our re8pon81bilitie8 and the r08ponsibilities of the directors wlth respect to going concern are de8crib8d in tha relevant 8ect6on8 of this feport. Page 7
Independent Auditorfs Report to the members of Chrysalls Grant Maklng Trust {contlnued) Oth•r Inlom7tlon The other infomation c¢)mprise8 the infomiatlon indud&a in the annu81 report other than the financial statements and our audrtorf8 report thereon. The direclon8 are responsible for the other inforniatn contained within the annual report. Our opinlon on the financial st8tem8nts does not cover the other information and, exc£pt to the extent otherwise explicitly stated in our report, W8 do not expre88 any fom of 888ur8nce conclusion thereon. Our respon8Sbility is lo read the other infomiation and, In doing 80. consider whether the olher informatson is materialty Inconsistent with the financial stat6ments or our knowledge obtained In the course of the audit, or otherwise appears to be matenally misststed, If we Identify such mater181 inconsistenc$ or apparent material mi58t8l8menl$. we are required to detemiine whether thi8 gives rise to a maten81 misstatement in the financial statentS them8elves. If, based on the work we h8ve perfomed, conclude that there is 8 material mlsst8tement of this other infomaiion, we are required to report that fact, W6 have nothing to r•port In th18 raoard. Oplnlon on oth•r mitt•rn prnKrld by the Comp•nlM Act 2008 In our opinK)n. based on the wort( undertaken in the course ol the audit. the infomiation given in the trustees, report for the financial year for which the flnancial ststerngnts aro prepared 18 consistent with the financi81 statement8 the trusiees. report has been prepared in accordance with 8ppIic8ble legal roquirements. Mattern on vthich w• ar• rnquirod to report by •xcaptlon In lighl of our knowledge and understsnding of tho charitable comp8ny and it$ envlronmenl obtained In the cour8• of th• audlt, we have not identified msterial misstatements in the Dlrectors, report. We have riothlng to report in respect of the followlng m8lter8 in r•lation to which Compan1•8 AGt 2006 regulre8 US to report to you if, Sn our opinion.. 8dequate accounting records have not been kepi. or retums adequate for our audrt have not bo•n reGeSved froni br3nGhe8 nol vtsned try U8.. or the financial slatements are not in 8gr8ement with the acc(Junting record8 and rgtUrn9.' or cert8in disclosures of directors, remuner8tion specffied by law are not m8de', or we have not receive(J all the infomialion and explanations we require for our audit. R••pon•iblllll•8 of dirnctorn A8 explained more fully in the directors, responsibilities statement, the directors Iwho are also the ditorS of the charilable cornpany for the purposes ol company lawl arè responsible for the preparation of the financial statements and for being sabstied Ihat they give a truo and fair view. 8nd for such internal control as the dlrectors detemine is necessery to enable the preparation of financial statements that are free from mater1 Mternent. whether due to fraud or error. In prapanw the financial slgteffnts, the dir8ctor8 are responslble for 88sessing the charit8ble cornpantys ability to conts'nue as a going concern, dclOng. as aFpIic8ble. matters related to going concern and using the going ¢yJncern basis of accounting unless the directors either Intend to liquidate tho charitable company or to ase operalions, or have no reaiisttc alternatNe bul to do so. Page 8
Independent Audltor's Report to the members of Chrysalls Grant Making Trust (continued) Audftorf• rfjspon8lbllltl•• for the •udlt of th• financlal stst•ment¥ Our objective8 are to obtain roason8ble assurance about whether the financial statem8nts as a whole are free from m8terial misstatement, whather due lo fraud or error. and to issue gn auditors report that includes our opinion Reasonable assurance is a high level of assurance. but 18 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it e.8t8. Misstatements can anse from traud or error and are considered material if. IndivaUaIty or in the aggregate, they could feasonably be expected to influence the economic decisions of users tak8n on the ba818 of these finano81 St8mentS. A fijrther description of our responsibilllies for the audit of the financial s18tem8nts is located on the Financlal Roporting Council'8 website at.. ww.frc.org.uklaudrtorsresponsibilities. This descnption foms part of Our 8udltoff8 r8P)rt. Ext•nt to whi¢h th• audlt w•• ¢on0ld•r cap4bl• of d•t•¢tlng Irrngularlti••, Includlng frnud Ifregularttiei Including fraud, are instsnGes of non-ComplnCe wfth laws and regulatlons. We deslgn procedures in line with our responsibilities. outlined above, to detecl material misstatements in respect of irregularitles. including fraud, The extent to which our procedures are capable of detOGting irregularitw, including fraud is detailed below. However, it is the primary r88ponsibiltty of management. with the oversight of those charged with govemance, to ensure that the enlity's oparations are conducte(l in accofdance WFth the provi8ions of laws and regulations and for the prevention and d8tectK)n of fraud. We obtsin and update our understanding of the charity, it8 8Ctivitie8, tts control environment. and likely Future developments, including in relation to the legal and regul810ry framework applicable and how the charty Is complying wlth that framework Based on this understanding. we identrfy and as8es8 the risks of matenal mi8stslement of the financial ststements, whether due to fraud or error, design and perfom audit procedures r08pon81ve lo those n8ks. and obtain audit 8vidence that is sufficient and appropri818 to provlde a basis for our opinlon. This includes consideration of the rSsk of a¢ts by the entlty that W8re contr8ry to applicable laws and regulations, Including fr8ud. Based on Our under6ianding of ihe charity. we identifiad that the principal risks of non•compllance with laws and regulations related to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation). distributable Drofils l•oiRl•tion And UK tax l09l•ldll. In ijU¢Jiiion. me chanty 18 subject to many other laws and regulations wher8 the consequences of non-compliance Uld have a matenal effect on amounts or disclosures In the financial statements. for Instance through the Imposition of fines and IrtatIOn. We considered the extent to which non-compliance with laws and regulalions might have a material effect on the financi81 st8tements and we have assessed the extent of coMplnce with the88 laws and regulatn$ as part of our procedures on the retated financial statement items. We also ev81uated managemenlg, incentives and opportunlti88 for trauduFent manlpulatlon of the financial ststements (including the risk of Ovemde of controls), Audit procedures pertormed by the engagement tearn included.. Inquiry of management and those charged with governance regarding aclual and poiential litigats'on Of daim8 86 well a8 whether they have knowledge of any 8Ctual. su3pected or alloged fraud. Rev6ewirKJ the financial statement disclosures and testing to supporting documgnlation to as8e83 compllance with applicable laws and regulats'ons: and Reviving meets'ng minutes to klentify raported frauds and any potantial non<ompliance wth laws and regulattons. Because of the inherent limitations of an audit, thore is 8 risk that we Will not detect all irregularits"e8, includlng those leading to a material misstatement in the financial statements or non-compliance with regulation. This nsk increa8es the more that compliance with a law or regulation is removed from the events and transaction8 rthcted in th• financial statements, a8 we will be less likaly to become aware of instancos of non-compliance. Page 9
Independent Audltorfs Report to the membars of Chrysalls Grant Making Trust (continued) The rlsk is also greater regarding ifgularitieS ¢x¢urring due to fraud rather than error, a8 IraLKI invdv int6ntional concealment. lorgery. collu8i¢n, omi88ion or misrepre8entstion. Ule of our report Th18 report 18 made 801ely to the charitable company's members, as a body. In accordance with Chapter 3 of Part 16 of the Companies Act 20CE. Our audit work has been undertaken so th8t we might state to the charilabla companys membèrs those matters we are required to state to them In 8n audito¢s report and for no other purpose, To the fullest extent permittad by law, we do not accept or 888ume respon6ibility lo anyone other than the charit8ble company and its members. as a body, for our audtt work, for this report. or for tho opinions we have f0Md. Anne Hallow•ll BS¢ FCA DChA (S•nior Statutory Audltor) lor and on behalf of UNW LLP. St•tutory Auditor Chartered Accountan18 Newcastle upon Tyne 17 December 2025 Pag8 10
Chrysalis Grant Maklng Trust {A company Ilmlt•d by guarantse) Ststement of flnanclal activities {Incorporatlng Income and expenditure account) Year ended 31 March 2025 Unr•strfcted fund• 2025 Total lund• 2025 Total funds 2024 Not• In¢om• from: Investments 74,323 74,323 70,992 Total Incom• Expondlture on: Rai&ng funds Charitable activitles 74,323 74,323 70.992 24,401 36.146 24,401 38,146 23,174 81,490 Totsl •xp•ndttur• 80.547 60,547 84.664 N•t Incom•l(•xpndltur•) b•forg net galn• on InvMtm•nts Net gains on inve8tment8 13,T16 85,401 13,778 85.401 (13,872) 108.758 N•t movwn•nt In fund• 99,177 99,177 95,086 Reconclllatlon of fund•: Total furKls broughl forward Net movement in lund$ 2.107,738 99,177 2,107,736 99,177 2,012,650 95.088 Tot•1 fund• carrl•d forwird 2.206.913 2,206,913 2.107.736 The notes on pages 13 to 17 form Dart of the99 financlAI #tAt•m•nt4. All fundy in both year8 are unrestricted. Page11
Chry3alis Grant Making Trust {A company Ilmltod ty guarant••) Balance she8t At 31 March 2025 2025 Not• 2024 Flxed aMot• Inv05tments 2,162,700 2,080,515 Curr•nt amots 2,162.700 2,080,515 Cash at bank and in hand 47,883 30,821 47,883 Curr•nt Ilabllltl 30.821 Cr8diior8', amounts falling duo wrthin one y•ar (3,670 {3,800) N•t curr•nt •8•0ts 44.213 27.221 Total n•t 48••t• 2,206,913 2,107.736 Charlty funds Unrestricted funds 2,206,913 2.107,738 T¢)tal fund• 2.206.913 2.107.726 The dire018 acknowledge their responslbililiej for complylng with the requlrements ol the Act wilh r05pect to 8¢counting records and preparation of financial statements, The financial staiements have beon prepared in accordance with tha provisions appfie•blA to •nttb'w aubJ•ct t• ¢hE >mall Goinpanle¥ regime. The financial 8talemenl8 were approved and authorised fof IS8ue ty the directorB on 17 Oecernber 2025 and signed on their behalf by.. Sarnh Ev•n8 The notes t)n pages 13 10 17 fonn part of these financial statements. Page 12
Chrysalls Grant Making Trust (A company limlt•d by guarnnts•) Note8 to the financlal stst8ments Year ended 31 March 2025 AcUntIng policl 1.1 8a•l8 of prgp•ratlon of financlal gtst•mont8 The financial staiements have boon pwred in 8ccordan¢e with Accounting and Reporting by Chadb'es.. Statement of Recommended Practice applicable to chanlies preparing their accounts In accordance with Ihe Financial Reporting Standard applrable In the UK and Republic of Ire18nd (FRS 102) leff8Ctive 1 January 20191 (Charities SORP {FRS 102)), the Financial Reportsng Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companio5 Act 2006. Chry3811s Grant Maklng Trust meets the definition of 8 publFC tsefft entjty under FRS 102. Assets and liabilitS sre initially recognogd at historical co8l or transact0 value unless 0thofwl8e stated in the rel&vant accounting Policy. The financial statements are prepared In pounds sterllno which 18 the functional currency of the Charity and are rounded lo the ngare8t £1. 1.2 Company •tatu• The company Is a comp8ny Ilmited by guarantee. Thv rnembers of the company aro the dlrectors named on page 1. In the event of the rAmpany being wound up, the liability in respect of the guarantee 18 Ilmited to £1 per member of the company. 1.3 Golng oonc•m The financi818tat6ments have boen Pfepared on a going concem ba818. Givon the m8tters OLrtllned in the directoffs report. the directors have con81dered the addItn81 nsks presented and 811 factors they believe might reasonably Impact upon the fulur8 outlook of the ¢h8rity. The Trust holds Subslantial investrnent 8ssets but maintains SLrfficient cash reserves to allow il to meet 118 ongoing commitments. Despite continued volatilty In the investrnenls market, the strong cash posfrtion of the charitable company rneans that the directors have a reasonable expectation that the company has adequate rgsources to continug in operational existence for the foreso8able fulure. For this reason. they continue lo adopt the golng concem ba818 in preparinq Ihe fin8nclal $taloments. 1.4 Fund 4c¢ounting General fund8 are unrestricted funds which are avallabl8 for use at Ihe dlscretion of the director8 in furtherance of the general objethves of the company and which have not been designated for othar purposes. 1.6 Inve•tJn•nt in¢om• Inv•6tment incomè16 accounted for when receivable and Indude8 the rolated tax recoverable. Page 13
Chrysalis Grant Making Trust (A company limited ty guaranteel Notes to the flnancial statements Year ended 31 March 2025 Accountlng pollcle• IConn•d> 1.6 Exp•ndlturn Expendlture is accounted lor on an accruals basis and has been included under expen80 ce9One9 that aggregate 811 cosls for allocatson to actrvities. Vlhere costs cannot be directly attributed to particular acts'vities they have been alloGated on a basis consistent with the use of the resources. Support costs are those costs incurred directly in support of expendrture on the objects of the chartty, Including those incurred in connection with the administration of the charity and compliance with consltutional and stsbJlory requirements. 1.7 Inv•¢tm•nts Fixed a898t investrnents Are a form Of financ1 instrument and are InltiaSly r•¢ognised 8t ththr transaction cost 8nd subsequently mea8ured at fair value at the balance sheet date, unloss fair valug cannot be measurod reliably in whlch case rt 18 measured at cost less impairmont. Investment gains 8nd losses, whether realised or unrealised, are combined gnd shthvn in the haading 'Galnsl(k)ss03} on investments, in the statement of financial aclrvities Incorporating income and expenditure account. 1.8 Int•ro8t r•c•lvablo Interest on funds held on deposit is Included when r6ceivable and the 8mount can be measuro reliably by tha company,. this 18 normally upon nolrfication of the interest paid or payable by the Ban 1.9 C••h at bank Ind In h•nd Cash at bank and in hand includ•s cash and 3hort-temi hlghty liquid investments wlth 8 short mgturity of three months or 18s5 from the date of 8cquisitKin or opfrning of the deposit or similar account. Chrysalis Grant Making Trust meets the definitlon of a public benefit 8nts.ty under FRS 102. Assets and liabilities aro initi8lly r8coonis8d ot hi8toricAI exJ•t or tr2n&K•elion vqlu• ynl••e olhorwioo otolcd In Ihe relevant accounting polKy. 1.10 Llabllltl•• and provl•lon8 LIa'11t188 are recognised wh8n there is an obligatbn at the balanc6 sheet dale 88 a result of a past event. it is probable th8t a tr8nsfer of economic benefit will be required In 88rtlemenL and the amount of the gettlement can b8 estimated reliabty. Liabilib'es are r•cx)gni8•d ai the amount that the company anlicipates it will Pay to settle thè debt or the amount It has received as advanced payments for the goods or 5en4ice$ Il must provmde. 1.11 Crlllcal accountlng Ktlmat•4 and •r•a• of judgem•nt Esllmates and judgements are conb'nually evaluated and are ba3ed on historical experim and other factors, including ex•ti¢ns of future events Ihat are believed to ba reasonable under the circum8t8nces. In preparing the8e financkql slatements tho directors do nol consthr thore were any Significant areas of judgemenl or accounting estlm8te8 that wejre required in apptying the compansls accounting policies as set out above. Page 14
Chrysalls Grant Making Trust (A ¢ompany lirnlt•d by guarantee) Notes to the flnancial stataments Year ended 31 March 2025 InvKtm•nt In¢om• Unrn8trlct•d fund8 2026 Total fund$ 2025 Total funds 2024 Inter88t recefved Dividends 18.080 56,243 18,080 66,243 21,616 49,376 74,323 74.323 70,992 Totsl 2024 70.992 70,992 Co•ts of ra18ing fund• Unrn8tr1cted funds 2026 Total lund• 2025 Total lunds 2024 Invesknent rnanag•meni feos 24,401 24,401 23,174 Tot812024 23,174 23.174 Page 15
Chrysalls Grant Making Trust (A company limllod by guarnnt•o) Notes to the flnanclal ststements Year ended 31 March 2025 An•ly8i• of •xpondltur• by activltl•8 Support costs 2025 Tot41 fund8 2025 Total funds 2024 Olrnct costs 2025 Grants (see directorf8 rewt for details) Audilorfs remuneration Consultancy fees 32,369 32,369 3,777 53.595 3,645 4,250 3,777 Total 2026 32,389 3.777 36,148 61.490 Total 2024 53,595 7,895 81,490 Dlr•ctorn' r•mun•rntlon dlrector8 were not entit&1 to, and did not receive any remuneration for their ServIS during the year (2024.. £nill. No dlrectors received any reimbursement for out of pocket expenses (2024: £nil). Ftx•d •u•t InvMlm•nts Ll•t•d Inv••tm•nt• Co•t or v•lu•tlon At 1 April 2024 Additions Di8posa18 Revalualons 2.080,515 526,048 (S02,462) 59,589 At 31 Marth 2025 2,162.7fM) N•t book valu• At 31 Marth 2025 2,162,700 At 31 March 2024 2,080.515 All the fixad asset inv88tments are listed and are held in the Ulc Page 16
Chrysalis Grant Maklng Trust {A Company Ilmlt•d by guarant•o) Notes to the financial ststements Year ended 31 March 2025 Cr•dltor•: •mounts falllng du• wlthln on• year 2025 2024 Accruals and deferred Income 3,670 3,6(M) Statement of fund8 Statem•nt of fund8 - curr•nt ymr 8alanc• at 31 Mareh 2026 Balanc• at I Aprll 2024 Galn81 (L•) Incom• Expondlturn Unro•trlGt•d funds General funds 2,107.736 74.323 (60,547) 85.401 2,206,913 Statem•nt of funds - prlor y•ar Balance at 31 March 2024 8alance at 1 April 2023 G8in81 (Losses) Income Expenditure Unr••trlct•(I fund• Géneral funds 2,012,650 70.992 (84.664) 108,758 2,107,73e Related party trnn8actlon• There were no related party tran$action$ In the current or prior perd5. Page 17