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← The Abcd Charitable Trust

2025-04-05-accounts

Charity Registration Number: 1133744

THE ABCD CHARITABLE TRUST

ACCOUNTS

For the year to § April 2025

THE ABCD CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Settlor: Guillain Patrice Louis Marie de Camaret Governing Instrument: Trust Deed dated 23 December 2009 Trustees: Guillain Patrice Louis Marie de Camaret Timothy Robin Vos Nicolas Louis de Camaret Jean-Louis de Montesquiou Fezensac D'Artagnan Marcela de Castro Bastos Aldo Laurence Maria Coronelli (retired 15 April 2025) Hendrik Guillaume Francois van Riel Charity Address: Macfarlanes LLP 20 Cursitor Street London EC4A 1LT Charity Registration Number: 1133744 Solicitors: Macfarlanes LLP 20 Cursitor Street London EC4A iLT Investment Managers: Squanto (BVI) Limited C/O Harneys Corporate Services Limited Craigmuir Chambers P.O. Box 71 Road Town VG1110 British Virgin Islands Custodians: Itau Private Bank Bleicherweg 30 CH-8002 Zurich Switzerland Independent Examiner: Emily Smith FCA Humphrey & Co Accountants LLP 7-9 The Avenue Eastbourne East Sussex BN21 3YA

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THE ABCD CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED5 APRIL 2025

The Trustees present their annual report and financial statements of the charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 20171 and Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.

Structure, Governance and Management

The ABCD Charitable Trust is a general Charitable Trust governed by a Trust Deed dated 23 December 2009 and is a registered Charity number 1133744.

The Trustees who served during the year and who were subsequently appointed were:

Guillain Patrice Louis Marie de Camaret Timothy Robin Vos Nicolas Louis de Camaret Jean-Louis de Montesquiou Fezensac D'Artagnan Marcela de Castro Bastos Aldo Laurence Maria Coronelli (retired 15 April 2025) Hendrik Guillaume Francois van Riel

Under the terms of the Trust Deed the power of appointing new Trustees is exercisable by the Settlor during his lifetime and thereafter by the surviving or continuing Trustees. Trustees are selected having regard to experience, including in relation to the scope of objects of the Trust and receive an initial briefing, with scope for further training if considered appropriate by the existing trustees, regarding general and specific procedures.

Trustee decisions are made primarily via a combination of conference discussions and email exchanges between the Trustees, with day-to-day administrative duties delegated to the Trustees’ solicitors and investment managers as appropriate.

The Trustees provide significant funding towards the work of Instituto ABCD, a charitable organisation registered in Brazil. As part of the Trustees’ monitoring role in relation to the use of funds provided, three Trustees have been Associates of the Instituto ABCD. Guillain Patrice Louis Marie de Camaret is a Founder Associate, Marcela de Castro Bastos is an Associate and Nicolas Louis de Camaret is the CEO, Director and an Associate of the Instituto ABCD.

Squanto Participacoes Ltda were appointed on 16 June 2011 as the Trust's investment adviser whose brief was fo advise and manage an investment portfolio on a discretionary basis. In 2020 Squanto (BVI) Limited took over as the Trust's investment adviser. Guillain Patrice Louis Marie de Camaret is a director and the sole shareholder of the Company.

Custody and advisory services are provided by Banco Itat (Suisse) S.A.

Investments held at 5 April 2025 were acquired in accordance with the powers of the Trustees.

The Trustees, with the aid of their investment advisers, maintain a regular review over the major strategic, investment and operational risks that the charity faces in order that, wherever possible, such risks can be identified and accordingly steps taken to lessen these risks.

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Where support is given to overseas organisations a Trustee will periodically visit key projects. In addition regular financial and progress reports are required from the donee organisation which are in turn scrutinised by the Trustees.

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THE ABCD CHARITABLE TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED5 APRIL 2025

Objectives and Activities for the Public Benefit

The ABCD Charitable Trust (the “Charity”) was established by Patrice de Camaret by a trust deed dated 23 December 2009 (the “Trust Deed”). in accordance with clause 3 of the Trust Deed, the trustees of the Charity must apply the Charity’s assets for such charitable purposes as the trustees determine.

In the Trust Deed, “charitable purposes” are defined as “purposes which are wholly and exclusively charitable according to the law of England and Wales”. The Charity’s purposes are therefore flexible and broad.

Without limiting their discretion to apply the Charity’s assets in accordance with these broad charitable purposes, the trustees of the Charity wish to record the charitable purposes on which they have focussed since the creation of the Charity and on which they intend to continue to focus as well as some additional areas subsequently agreed by the trustees. These are as follows:

The Trustees’ legal purposes are to support other entities (both charitable and non-charitable) which will promote or further the Charity’s charitable objectives as set out above. They will do this through the provision of grants. The Trustees monitor the performance of the supported organisations in order to ensure that the funds are applied for the intended purposes. The causes supported by the Charity are for the benefit of the public, therefore supporting such organisations fulfils the legal purposes of the Charity.

The entities which the Charity will support will focus on projects or research principally in Brazil, the US and the UK, but also worldwide.

The trustees reserve the right to amend these objectives or to apply the Charity’s funds outside these objectives at any time, provided always that the Charity’s funds are applied in the Charity’s best interests and in accordance with English charity law.

The Trustees assess the success of their contributions by reviewing the reports provided by the grant recipients on a regular basis. The receipt of a satisfactory report is often a condition for thr release of the next tranche of funding (e.g the grant to Johns Hopkins University). Nicolas de Camaret is the Executive Director of Instituto ABCD, one of the grant recipients, therefore he is closely involved in the work of this organisation and ensures the funds received from the Charity are used according to the budget presented to the Trustees. The Trustees meet with the board of the Instituto once a year or more often if required, in order to review the Instituto's achievements, discuss the following year's budget and agree further funding.

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The Charity's grant-making policy ensures that appropriate projects are supported. They support Instituto ABCD annually, as this organisation depends on the Charity's support for its funding. Other grants are proposed by individual Trustees after being approached by grant applicants. The Trustees then make decisions jointly, after careful consideration of the grant recipients’ proposals, ensuring that the objectives of the Charity are met, and that the grants will benefit the public.

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THE ABCD CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED5 APRIL 2025

The institutions and projects supported during the year were as follows: Instituto ABCD based in Sao Paulo, Brazil, which runs educational programmes for individuals affected by dyslexia; New York University - towards a one-off grant to fund research in the Department of Radiation and John Hopkins University in Baltimore, USA - a five-year grant to fund research in the Department of Psychiatry & Behavioral Science;

The Steiner Institute, based in Sao Paulo, Brazil - to fund a purchase of 50 telescopes to be used in educational and social programmes in Sao Paulo; and A feasibility study for the establishment of a Science Museum in Sao Paulo, Brazil

The Trustees have regard to the Charity Commission’s guidance on public benefit.

Achievements and Performance

The Trustees continued their policy of making donations to various charities involved with education projects in Brazil and the United States of America. New donations totalling £1,049,301.03 (£339,127.72 to 5 April 2024) were made during the year. Details of the donations are shown in Note 5 to the Accounts. In addition, the Trustees previously committed to fund one long-term project of the Johns Hopkins University. During the year to 5 April 2025 a payment of £223,546.40 ($280,000.00) (2024: £371,535.20 ($480,000.00)) was made to Johns Hopkins University as part of the funding commitment. Details of the funding commitment are shown in Note 6 to the Accounts.

The Trustees were satisfied that by making grant payments to Instituto ABCD, New York University , John Hopkins University, and The Steiner Institute they achieved their objectives i.e. funding the causes set out above which benefit the public. The Science Museum Project was financed in order to establish if the creation of a science museum in Sao Paulo, Brazil would be feasible. Unfortunately, the project was halted as if had run into numerous difficulties, and the Trustees decided not to pursue this ambition.

The Trustees aim to maintain investments for capital growth and to maintain cash funds sufficient to fund anticipated charitable donations over the coming year.

Investment Performance

The Trustees have employed discretionary investment managers to manage the assets of the charity. The investment managers’ remit is to provide a medium risk portfolio that protects the value of the capital and at the same time delivers good quality regular returns.

The returns from the charity investments were broadly in line with the adopted benchmark.

The Trustees actively monitor the work of the investment managers and believe that an appropriate investment strategy is in place for the medium to long term. In accordance with the Itati Private Bank mandate, the Trustees have a low to moderate tolerance for risk and expect a low to moderate rate of return on their investment.

Financial Review

At the year end funds totalled £678,324.70 in comparison to £954,080.47 as at 5 April 2024.

The majority of the investment portfolio is held in US dollars and these accounts are presented in Sterling. The exchange rate has therefore had an effect on the values presented in these accounts as at 5 April 2025.

The principal funding source of the trust has been donations from the Settlor, subsequently invested to generate income and capital returns. The reserves generated from these sources are unrestricted as to use for the charitable purposes of the Trustees described above.

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THE ABCD CHARITABLE TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2025

On 4 April 2025, Patrice de Camaret agreed to provide further funding to the charity of $1,000,000 which will allow the charity to meet its commitments.

The Trustees plan to continue their existing activities by funding further annual budgeted expenditure of Instituto ABCD, and other charitable expenditure within their objectives.

Reserves Policy

The Foundation’s reserves are primarily investments which are held to generate income and capital growth which provide funds to make grants in accordance with the charity's objectives. Free cash reserves total £608,089.94 at the year end, and the Trustees consider that the level of reserves is appropriate to meet current activities. Further reserves can be met with the liquidation of a proportion of investments if required.

investment Policy

The Trustees’ investment policy is that of a low to moderate risk portfolio that protects the value of the capital and at the same time delivers low to moderate returns.

Risk

The Trustees have assessed the major financial, operational and administrative risks to which they consider that the charity is exposed in the delivery of the charitable objectives. The key risks are considered to be:

In the mitigation of such risks the Trustees plan to make donations to established charitable organisations with a proven track record in the delivery of public benefit. In the execution of granis fo organisations the Trustees seek to satisfy themselves, through their own research and personal involvement that each grant is in pursuance of a charitable objective which offers identifiable and measurable benefit to the public or a significant section of the public.

The Trustees do not consider that there are any factors that are likely to affect the financial performance or position going forward.

Plans for future periods

In addition to supporting Instituto ABCD, the Trustees are evaluating opportunities to support and work with other charities and organisations to further the charitable objectives of education, training and research into mental health and learning difficulties, and the advancement of medicine.

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THE ABCD CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED5 APRIL 2025

Statement of Trustees' Responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which 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.

The Trustees for the purpose of charity law who served during the year and up to the date of this report are set out on page 1.

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Approved by the ——
Trustees and signed a
on their behalf by: seen Mlnstssnsameeain
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Dated sssacsbe settee Dae tT OOO Gn cessstesrves 2025

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16 December

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THE ABCD CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT For the year to 5 April 2025

Note 2025 2024
£ £
income and Expenditure
Income from:
Investments 2 17,650.29 26,727.61
Donations and Legacies 3 776,488.00 ~
Total Income 794,138.29 26,727.61
Expenditure on:
Raising Funds
Investment Management Fees 6,183.55 6,642.86
Charitable activities
Donations 5 1,049,301.03 339,127.72
Funding Commitments 6 6,378.62 12,023.03
Support Costs and Governance Costs 7 26,608.51 30,388.92
Total Expenditure 1,088,471.71 388,182.53
NetGains/{Losses) on Investments 10 22,171.48 6,842.12
Net Income/(Expenditure) (272,161.94) (354,612.80)
Other Gains/(Losses} 10 (3,593.83) 5,309.92
Netmovement in funds (275,755.77) (349,302.88)
Fund balances at 6 April 2024 954,080.47 1,303,383.35
Fund balances at 5 April 2025 £678,324.70 £954 ,080.47
Allfundsareunrestricted

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THE ABCD CHARITABLE TRUST

BALANCE SHEET at 5 April 2025

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Note 2025 2024
£ £
Fixed Assets
Investments (at Fair Value) 11 70,234.76 1,374,549.91
Current Assets
Debtors 12 776,488.00 -
Cash at bank and in hand 13 180,144.22 20,286.54
Current Liabilities
Creditors:
Amounts falling due within one year 14 (348,542.28) (222,364.26)
Net Current Assets/(Liabilities) £608,089.94 (£202,077.72)
Long Term Liabilities
Creditors:
Amounts falling due beyond one year 14 - (218,391.72)
Total assets less current liabilities £678,324.70 £954 ,080.47
Unrestricted Funds £678,324.70 £954,080.47
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The accounts were approved by the H. DReiee . ; Trustees on sen snstcewise coseecu t eT TO Te ccconeernsexeRODS Timothy Robin Vos

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THE ABCD CHARITABLE TRUST

STATEMENT OF CASH FLOWS at 5 April 2025

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Note|2025|2024| |£|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|16|(1,180,685.41)|(1,046,620.34)| |investing|activities| |Purchase|of investments|-|(409,294.24)| |Proceeds|from|disposals|of|investments|1,326|486.63|4,313,259.99| |Investment|income|received|17,650.29|26,727.61| |Net|cash|generated|from/(used|in)| |investing|activities|1,344,136.92|930,693.36| |Net|decrease|in|cash|and|cash|equivalents|163,451.51|(115,926.98)| |Cash|and|cash|equivalents|at|beginning|of|year|20,286.54|130,903.60| |Effect|of foreign|exchange|rates|(3,593.83)|5,309.92| |Cash|and|cash|equivalents|at end|of year|180,144.22|20,286.54|

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

1 Accounting Policies

Charity Information

The ABCD Charitable Trust is a general Charitable Trust governed by a Trust Deed dated 23 December 2009 and is a registered Charity number 1133744.

1.1 Accounting Convention

These Accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of freland" ("FRS 102"), “Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The Charity is a Public Benefit Entity as defined by FRS 102.

The Accounts 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The Statement of Financial Activities (SoFA) has been adapted to include Income from Donations and Legacies which was not present in the previous financial statements.

The Accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. The Accounts are prepared in sterling.

1.2 Going Concern

At the time of approving the Accounts, the Trustees have a reasonable expeciation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the Accounts.

1.3 Charitable Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming Resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.

The Charity is a registered Charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1.5 Resources Expended

Expenditure is recognised on an accrual basis as a

liability is incurred.

Costs of generating funds comprise the Investment Managers’ costs associated with the management of the investment portfolio in accordance with the strategy set by the Trustees. Charitable expenditure in the form of donations payable is accounted for as and when approved by the Trustees and when due for payment.

Funding commitments have been calculated by the amortised cost method using an average return of investment rate.

Other costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and legal costs linked to strategic management of the Charity.

Support costs have been calculated as a proportion of grants payable per activity.

1.6 Fixed Asset Investments

investments are included on the Balance Sheet at their fair value at the end of the financial period. Listed investments are stated at the mid prices provided by the Fund Managers for the unit trust holdings. Gains and losses on investment assets are credited, or debited, to the Statement of Financial Activities in the year in which they arise.

1.7 Current Asset Investments

Financial assets classified as current asset investments are stated at fair value with any gains or losses arising on remeasurement recognised in profit or loss. Fair value is derived from the professional valuation obtained at the period end. Short-term investments held for sale within 12 months of the year-end are treated as current asset investments.

1.8 Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Realised and unrealised gains relating to the investment portfolio are translated at the year-end rate. Other transactions in foreign currencies are recorded at the rate ruling ai the date of the transaction or published average rate for the financial year. Foreign exchange gains or losses incurred in respect of overseas transactions are taken to the Statement of Financial Activities.

1.9 Irrecoverable VAT

irrecoverable VAT is charged against the category of resources expended for which it was incurred.

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1.10 Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1.11 Financial Instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments‘ and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequenily carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic Financial Liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate

method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from supplier. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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Derecognition of Financial Liabilities

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled.

1.12 Critical Accounting Estimates and Judgements

In application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

In the year ended 5 April 2025 the Trustees consider that there were no critical accounting estimates arising that require disclosure.

Critical Judgements

The following judgement (apart from those involving estimates) has had the most significant effect on amounts recognised in the financial statements.

Funding Commitment

The Trustees have calculated the average return on investment rate to be 1.5%. This is based on the income received in 2021 from the investments held at fair value as at 5 April 2021, which is still considered an appropriate basis for the discounting of funding commitments.

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 5 APRIL 2025

2 Income from Investments 2025 2024
£ £
income from Overseas Securities 17,415.14 26,545.28
Interest on Cash Deposits 235.15 182.33
17,650.29 26,727.61
3 Donationsand Legacies 2025 2024
£ £
Gift from Guillain Patrice Louis Marie de Camaret 776,488.00 -
4 independent Examination Fees 2025 2024
£ £
The analysis offees is as follows:
Independent examination of the Charity's accounts 3,150.00 2,760.00
5 Charitable Donations made bythe Trust
Learning Learning
differences Education Medicine Total differences Total
2025 2025 2025 2025 2024 2024
£ £ £ £ £ £
Instituto ABCD 423,869.72 - - 423,869.72 339,127.72 339,127.72
Museu de Ciencias Techologica - 186,920.31 - 186,920.31 - -
NewYork University - - 399,190.00 399,190.00 - -
The Steiner Institute - 39,321,00 - 39,321.00 - -
423,869.72 226,241.31 399,190.00 1,049,301.03 339,127.72 339,127.72

The total amount of grants payable to institutions was £1,049,301.03 (2024 - £339,127.72)

Learning Differences

Research into, treatment of and assisting those who are affected by learning differences or difficulties, (particularly dyslexia) or by other medical conditions and including mitigating the effects of those learning differences or difficulties or other medical conditions.

Education

Promotion of education in general.

Medicine

Research into and treatment of diseases of the brain, neurobiology and psychiatric disorders or other medical conditions.

6 Funding Commitment

At 21 January 2021 the charity had entered into a funding commitment fo provide a total donation to the Johns Hopkins University for the use and benefit of The Department of Psychiatry and Behavioral Sciences of US$280,000 per annum over five years. There are no performance related conditions attached to the commitment.

The funding commitment figure of £6,378.62 represents the annual finance cost in refation to this commitment.

Medicine Totai Medicine Totai
2025 2025 2024 2024
£ £ £
Finance Costs 6,378.62 6,378.62 12,023.03 12,023.03
6,378.62 6,378.62 12,023.03 12,023.03

The commitment has been calculated by the amortised cost method using an average return of investment rate calculated at 1.5% per annum.

At the year end the commitment due within one year was calculated as £214,203.59 (US$275,862.07) (2024: £215,164.26 (US$271,785.29)) and is shown in current liabilities. During the year, a payment of £223,546.40 was made as part of this funding commitment.

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 5 APRIL 2025

7 Support costs
Learning Learning Basis of
differences Education Medicine Total differences Total allocation
2025 2025 2025 2025 2024 2024
£ £ £ £ £
Governance costs
Macfarlanes Fees 8,927.43 4,765.04 8,407.63 22,100.10 26,850.00 26,850.00 *
independent Examination Fees 4,526,95 815.04 1,438.04 3,780,060 2,760.00 2,760.00 *
Bank Charges 278.01 144.44 254.29 668.41 162.92 162.92 *
LEI Registration Fee 24.24 12.94 22.82 60.00 60.00 60.00 *
10,748.63 5,737.10 10,122.78 26,608.51 29,832.92 29,832.92
* Splitbased on grants payable
Supportcosts
Consultancy Feesand Expenses
JohnVenn &Sons - Notary Fees - - - - 596.00 556.00 **
10,748.63 6,737.10 410,122.78 26,608.54 30,388.92 30,388.92
**Directexoenditure

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or expenses.

9 Employees

Therewere noemployees during the year.
10 Net Gains/{Losses) on Investments 2025 2024
£ £
Revaluation of Investments 2,514.97 (16,709.84)
Gain/Loss on Sale ofInvestments 18,656.54 23,551.93
22,171.48 6,842.12
Currency Gains/(Losses) (3,593.83) §,309,82
18,577.65 12,152.04
11 Fixed Asset Investments 2025 2024
ListedInvestments 70,234.76 _1,374,549.91
70,234.76 — 1,374,549.91
Listed Investments included above:
OverseasSecurities 70,234.76 1,374,549.91

Fixed Asset Investments Revalued

Investments are included on the Balance Sheet at their fair value at the end of the financial period. Listed investments are stated at the mid prices provided by the Fund Managers for the unit trust holdings.

The historica! cost of the fixed asset investments is £78,981.25 (2024 - £1,513,125.14)

The historica! cost of the fixed asset investments is £78,981.25 (2024 - £1,513,125.14)
Movements in FixedAsset investments 2025 2024
£ £
Cost orValuation
At5
April 2024		 1,374,549.91 2,271,673.54
Additions - 409,294.24
Valuation Changes 2,514.97 (16,769.81)
Disposals {1,306,830.12) {1,289,708.06)
At5 April 2025 70,234.76 1,374,549.91
CarryingAmount
At5April2025 70,234.76 —1,374,549.91

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THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 5 APRIL 2025

12 Debtors

12 Debtors
2025 2024
£ £
Amounts falling due within one year:
Giftdue from Guiliain Patrice Louis Marie de Camaret
($14,000,000) 776,488.00 =
13 Cash at bankand in hand
2025 2024
£ £
Macfarlanes 3,293.87 2,418.82
Itaé Private Bank :
GBP CurrentAccount 66.41 119.71
US$ CurrentAccount ($227,647.96) 176,765.91 17,729.99
Euro CurrentAccount (€21.01) 18.03 48,02
186,144,22 20,286.54
14 Creditors
2025 2024
£ £
Amounts falling due within one year:
Accruals forgrants payable 344,762.28 215,164.26
Accruals 3,780.00 7,200.00
348,542.28 222,364.26
Funding commitments due afterone year - 218,391.72
348,542.28 440,755.98
15 Related PartyTransactions
Transactionswithrelatedparties

During the period under review Robin Vos was employed by Macfarlanes LLP who have provided lega! services to the Charity. Fees totailing £22,100.10 (2024:£26,850.00) were paid during the year.

On 4 April 2625 Guillain Patrice Louis Marie de Camaret, a Trustee and Seitlor of the Charity, pledged to donate USD $1,000,000 to the Charity, which will enable the Charty to continue their activities and pay its funding commitments. The donation does not attach any conditions.

Buring the period under review Guillain Patrice Louis Marie de Camaret, a Trustee and Settior of the Charity, Marcela de Castro Bastos, a Trustee and Nicholas Louis de Camaret, a Trustee, were also Associates of Instituto ABCD. Nicholas Louis de Camaret is on the Board of Directors of institute ABCD and is the organisation’s CEO. This structure has been undertaken so that the Trustees can ensure funds are being spent in line with the budget and intended purposes.

Guillain Patrice Louis Marie de Camaret is a director and a sole shareholder of Squanto (BVI) Lid (ihe Charity's Investment Managers).

Instituto ABCD is a charitable organisation registered in Brazil.

Donations totalling £423,869.72 (2024: £339,127.72} were made to Instituto ABCD in the year.

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16 Cash Generated from Operations
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Cash Generated from Operations
2025 2024
£ £
Surplus/(deficit for the year) (275,755.77) (349,302.88)
Adjustments for:
Investmentincome recognised in statement offinancial activities (17,650.29) (26,727.64)
Loss/(gain) on disposal of investments (19,656.51) (23,551.93)
Fairvalue gains and losses on investments (2,514.97} 16,709.81
Foreignexchange gains and fosses 3,593.83 (5,309.92)
Movements in working capital:
(Increase) in debtors (776,488.00) -
(Decrease) in creditors (92,213.70) (658,437.81)
Cashabsorbedbyoperations (1,180,685.41) (1,046,620.34)

17

THE ABCD CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 5 APRIL 2025

17 Material Items

The donation of £776,488 (USD $1,000,000) from Guillain Patrice Louis Marie de Camaret, a Trustee and Seitlor of the Charity, pledged on the 4 April 2025, was received after the 5 April 2025.

48 Analysis of Changes in Net Funds

The charity had no debt during the year.

18

:

THE ABCD CHARITABLE TRUST

APPENDIX TO THE ACCOUNTS FOR THE YEAR ENDED5 APRIL 2025 (these notes do not form part of the statutory Accounts)

1) Income from investments

Overseas Security Interest

Overseas Security Interest
Holding Date Gross Tax Net
£ £ £
Banco Bradesco (Grand
Cayman Branch) 5.75%
1.3.2022 200,000 29/07/24 2,488.50 - 2,488.50
200,000 27/01/25 2,564.39 - 2,564.39
Dupont de Nemours 4.493%
16.11.25 200,000 15/05/24 3,545.65 - 3,545.65
200,000 15/11/24 3,559.69 - 3,559.69
GeneralMotors6.8%1.10.27 205,000 01/10/24 5,256.91 - 5,256.97

The above Overseas Securities are held in US Dollars and translated to Sterling in accordance with the Accounting Policy on foreign currency translation.

: : :

i

THE ABCD CHARITABLE TRUST

APPENDIX TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 (these notes do not form part of the statutory Accounts)

2) Investments held at 5 Investments held at 5 April 2024 Investments held at 5 April 2025
Cost or
Holding Cost Market Holding Cost 2024 Market Unrealised
Value Adjusted Value gains/{losses}
Value
Amundi Funds
SICAV Cash
USD 2,087.765 490,493.75 196,041.09
Banco
Bradesco GC
3.2 27.01.25 206,000.00 466,026.99 155,332.69
Dupontde
Nemours
4.493%
15.11.25 200,000.00 174,723.39 168,963.03
General Motors
6.8% 1.10.27 205,000.00 183,133.60 169,507.45
MFS Meridian
Funds SICAV
US Govt Bond
Fund A4 36,307.054 560,505.55 480,586.39 §,116.054 78,981.25 67,719.79 70,234.76 2,514.97
Nordea 1
SICAVUS
CORP BOND
FUND BP 17,910,448 238,241.83 214,149.56
£1,513,125.11 £1,374,549.94 £78,981.25 £67,719.79 £70,234.76 £2,544.97

:

THE ABCD CHARITABLE TRUST

APPENDIX TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025

(these notes do not form part of the statutory Accounts)

The acquisitions and disposals of investments are set out below:-

Acquisitions

Holding Date CostiBook Event Value £

0.00
Disposals
Holding Date Market Value Proceeds Profit/(Loss} Event
£ £ £
Amundi Funds
SICAV Cash
USD 2,087.765 28/05/24 196,041.09 195,174.90 (866.19) Sale
Banco
Bradesco GC
3.2 27.01.25 200,000 27/07/25 155,332.69 160,274.40 4,941.71 Sale
Dupont de
Nemours ;
4.493%
15.17.25 200,000 23/12/24 158,963.03 158,663.60 (299.43) Sale
General Motors
6.8% 1.10.27 205,000 23/12/24 169,507.15 177,934.37 2,427.22 Sale
MFS Meridian
Funds SICAV
US Govt Bond
FundAi 11,772 26/07/24 155,822.69 155,439.31 (383.38) Sale
11,541 17/10/24 152,765.01 153,567.82 802.81 Sale
2,886 13/12/24 38,201.18 39,555.93 1,354.75 Sale
4,992 27/12/24 66,077.72 67,607.62 1,529.90 Sale
Nordea 1
SICAV US
CORP BOND
FUND BP 17,910.448 30/12/24 214,119.56 224,268.68 10,149.12 Sale
Totals £1,306,830.12 £1,326,486.63 £19,656.51