IM irwinmitchell
COULTER TRUST
REGISTERED CHARITY NUMBER 1140396
FINANCIAL STATEMENTS
For the
oar onded 5th A rll 2023
(Ref.. 450962271

COULTER TRUST
REGISTERED CHARITY NO. 1140396
Index to the Flnanclal Ststements For the
ear ended 5
ril 2
Pa
Trustees. Report
Independent Examiners Report
Balan￿ Sheet
statement of Financial Activities
6-12
Notes to the Financial Statements
13-18
Schedule ol Investments

COULTER TRUST
Reglstered Charlty No 1140396
Page 1
TRUSTEES, REPORT
For the year ended 5th April 2023
Full name of Charity.. Coulter Tnjst
Nature of governing document: Will dated 1 October 2004 of the late Beryl Coulter who died on g
October 2007, and subsequent Deed of Variation dated 28 April 2009.
Rggistration Number: 1140396
Trustoes:
Thomas Eggar Trust Corporation Limited
DirgCtor$ of Thomas Eggar Trust Corporation Limitgd:
Paula Caryn James
Craig Alexander Marshall
Darran Faw￿11
Sarah Phillips
Caroline Shelton
James Pavey
Michael Taylor
Registered Address: Thomas Eggar House, Friary Lane, Chichester, West Sussex. P019 1 UF
Principal Banker .
Barclays Bank Plc, 74-75 East Street, Chichester, Wesl Sussex, P019 1 HR
Solicitors
Irwin Mitchell LLP, Thomas Eggar House. Fiiary Lane, Chichester, Wesl
Sussex. P019 1UF
Independent Examiners .
Carpenter Box Jones Avens, Piper House, 4 Dukes Court, Bognor
Road, Chichester, Vvest Sussex, P019 8FX
Operating Restrictions:
To provide for the purpose of the construction of homes ofa reasonable
standard for the elderly of the Parish of Sl. Ouen in Jersey.
Specific investment powers: In accordance with the Trustee Investment Act 1961 as
amended by the Charities (Trustee Investment Act 1961)
Order 1995.
Constitution and objects
The objects of the Trust include the purpose oflhe construction of homes ofa reasonable standard for the
elderly of the Parish of St. Ouen in Jersey as detailed in the Will of Mrs Beryl Coulter dated 1 October
2004 and subsequent Deed of Variation dated 28 April 2009. The Trustees have paid due regard to
guidan￿ issued by the Charity Commission in deciding what activities the Trust should undertake.
GA: 5518623 1

Page 2
Organisation
The Trustees who served during the year and sinTr the year end are sel out on page 1. The Trustees
met during the year lo consider the future of the Trust. The slatulory power of appointment applies in
connection with the appointment of Trustees and is exercisable by the continuing and retiring Trustees.
Grant making policy and activities
The Trustèes are currently wailing for planning consent, and once this has been granted, the Trustees will
consider making grants in a phased process.
Achlevements and performanco
During the year the Trust has conlinLJed to investigate possible sites for the construction in the Parish of
st Ouen and has engaged in discussions ai)oul the availability of planning permission.
Financlal Revlew and Investment pollcy
During the year incoming resources lolalled £185,95512022." £148,666) resources expended tolalled
£40,44812022.' £38.3081 and other recognised losses lotalled £425,75212022'. gains of£211,2731. As a
result the fund balance carried fO￿ard at 5th April 2023 was £5,495,339.
The incoming resources consist of dividend income from investments and bank deposit interest. The
Trustees approach in connection with the level of grant maki'ng each year is lo distribute up lo the
forecasted income receivable.
Reserves policy
11 is the policy of the charity lo maintain unrestricted funds, which are the free reserves of the charity.
There are sufficient funds lo cover management and adminislralion costs and to respond to emergency
applications for grants which arise from time lo time. Unreslricled funds were maintained al this level
throughout the year.
Risk managernent
The trustees have examined the major strategic, business and operational risks which the charity faces
and confirm that systems have been established to enable regular reports lo be prodLJced so that the
necessary steps can be taken to lessen these risks.
Trustees responsibilities
Law applicable lo charities in England and Wales requires the Trustees to prepare financial statements
for each financial year which give a true and fair view of the Charity's financial activities during the year
and of ils linancial position al the end of the year. In preparing those financial slatemenls, the Trustees
are required lo..
select svilable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgments and estimates that are reasonable and prudent.,
stale whether applicable accounting standards and slalemenls of recommended practice have
been followed, subject lo any material depart4Jres disclosed and explained in the financial
stalemenls,. and
prepare the fi'nancial statements on the going concern basis unless it is inappropriate lo
presume that the Charity will continue lo operate.
The Trustees are responsible for keeping accounting records which disclose with reasonable accLJracy
at any lime the financial position of the Charity and lo ensure that the financial statements comply with
the Charities Act 2011. 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.
Thomas Eggar Trust Corporation Limited
Dated
GA.. 5518623 1

Page 3
COULTER TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COULTER TRUST
I report to the Iruslees on my examination of the financial statements of The Coulter Trust (the tharhyl for the
year ended 5 April 2023.
Responsibilities and basis of report
As the Iruslees of the charity yw are responsible for the preparation of the financial slatemenls in accordance
with the requirements of the Charitie5 Act 2011 (the 2011 Act).
I report in rèspect of my ex8minalion of th8 charity'8 financial slalements carried out under section 145 of the
2011 Act. In cairying out my examination I have followed all the applicable Directions given by the Charity
Commisslon under se¢tion 145{5llbl of the 2011 Act.
Independent examlnerfs statement
I have completed my examination. I confim that no matters have come lo my attention in connection with
thè ex8tnination giving me cause lo believe Ihal IN any material respect..
accounting records were not kepl in respect of the charily as required by seclion 130 of the 2011 Act,. or
financial statements do not accord with those records,. or
the financial statemenls do not comply wilh the applicable requirements eoncerning the form and
onlenl of 8ccounls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that Ihe accounts give a true and lair view which is not a matt6r consklered as part of an
independent examination.
I have no concerns and have come across no other matters in connection wilh the examination to which
a(ten(ion should be drawn in Ihis report in order to enable a proper understanding of tha finallcial statements
lo be reached.
Claire Notwood Bsc FCA ATII
Carpenter Box Jones Avens
Piper House
4 Dukes Court
Bognor Road
Chichester
West Sussex
P019 8FX
Dated..
2610112024
Carpenter Box Jones Avens is the trading name of Jones Avens Limited.
8838362.1

Page 4
COULTER TRUST
REGISTERED CHARITY NO. 1140396
Balan¢& Shèèt as at 5th A rll 2023
As at 5.4.23
A6 at 5.4.22
Fixed As8el8
Invesim8nls al value
5.341,S78.78
5,679,932.10
Currenl Assets
Deblois
Cash
10
9.131.OT
150,939.58
160,070.65
3,302.54
97.870.77
101.173.31
Creditors
Net CurrentAsset
Total A88ets18S8 Current Llabllltl8S
12
6.310.48
5.521.96
153.760.17
5.495,338.95
95,651.35
5,775,583.45
Fund balanc8 As at 5.4.23
Unrestricted
5.495,338.95
5,775,583.45
The finanoal sialements were approved by the board uftruslees on..............................................aNJ ￿gned on ils behalf by
Thomas Eggar Trust corpora￿0￿ Limiied
Truste8
TFE noie$ on pa￿$ 6 to 12 fomi part oflh8s8 a¢￿unIS

Pago 5
COULTER TRUST
REG15TEREO CHARITY NO.1140396
ternen
of Financial A tivi
Forthe
hA ri12
Includln
Income and Ex
frndltur8 Account
Yoar ondod
6.4.23
Year onded
5.4.22
Note
COME & EXPENDITURE
Incomlng Resoureè8
Incoming resour(*s from generated tund$
Gross in¥eslmeni Income
Total Incomlfig resourcgs
185,955.3S
185,955.36
148.666.23
148.666.23
R950urce$ exp•nded
Charitable acliwlies
120,771.301
I20,808.(￿)I
Cosl of genera11ng lunds
Inveslment management Costs
Total R&soyr¢os Expended
119,677.061
140,448.361
17.500.421
138,306.421
Other Recognlsed Galn8llLosse81
Realised Ilossllgain on sale of Investments
Un￿aliSed gainlllossl on inveslmenl$
Not Movemènt In FiJnd8
(119,127.081
(306.624.421
(280.244.501
112.627.621
223.900.78
321.630.97
Fund balant£ brought fotward
5,775,563.45
5,453,952.48
Fund balanco carrlod forw8rd 5.4.23
5.495.338.95
5,775.583.45
Nor* oflh8 Charity's a¢l1vitseswe￿ acquired ordisconlinued during the above period.
The Charity has no recognised gain5 or losses 011￿r than those dealt ￿th in the Slalemenl of FinancK91 Aclwilies.
The note5 on pages 6 to 12 form part oflhese accounts.

Page 6
COULTER TRUST
REGISTERED CHARITY NO. 1140396
Notes to the Accounts for the
ear ended 5th A
ril 2023
1 ACCOUNTING POLICIES
The Coulter Trust is an unincorporated charity, registered with the Charity Commission number
1140396. The registered address is
Thomas Eggar House. Friary Lane. Chichester, Wesl Sussex, P019 1 UF
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with Charities Act 2011 and "Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021. las amended for accoLJnting periods commencing from 1 January 2019), The
charity is a Public Benefit Entity as defined by FRS 102.
The ac¢ounl8 are prepared in sterling, which is the functional currency of the charity.
The accounts have been prepared on the historical cost convention modified for the revaluation of
investments. The principal accounting policies adopted are sel out below.
1.2 GOING CONCERN
At the time of approving the accounts, the trustees h8ve reasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future. Thus the trustees,
continue lo adopt the going concern basis of accounting in preparation of the accounts.
1.3 CHARITABLE FUNDS & FUND ACCOUNTING
Unreslricled funds are available for use al the discretion of the Iruslees in furtheran￿ of their
charitable objectives unless the fLJnds have been designated for other purposes.
Incoming Resources
Incoming resources includes investment income, which is recognised when the charity has a legal
right to the income.
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carrying value of the asset, and is recognised in nel incomellexpendilurel for the
year.

Page 7
1.4 GRANTS PAYABLE
Grants payable are debited lo expenditure within the Statement of Financial Activities in the period lo
which they relate.
1.5 INVESTMENTS AND INVESTMENT INCOME
All investments are stated al fair value and the movement shown comprises both realised and
nrealised gains and losses.
Realised gains or losses arising on the disposal of investments (together with provisions for
diminution in value), are credited or debited lo the Statement of Financial Aclivilies. and subsequently
transferred to Unrestricted Funds.
1.6 CHARITABLE ACTIVITIES
The cost of charitable activities consists of grants made.
1.7 COST OF GENERATING FUNDS
The cost of generating funds consists of investment management fees.
1.8 GOVERNANCE COSTS
Governance costs comprise all costs involwng the public accountability of the charity and its
compliance with regulation and good practice. These costs include costs related lo stalulory audit
and legal fees together with other overhead and support costs.
1.9 CASH AND CASH EQUIVALENTS
Cash and cash equivalents include deposits held at call with banks.
1.10 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 118 financial instruments.
Financial assets and liabilities are offset, with the net amounts presented in the financial slalements,
when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to
sellle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the
effective interest method unless the arrangement conslitules a financing Iransaclion, where the
transaction is measured at the present value of the future receipts discounted at a market rale of
interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial a$$ots
Financial assets, other than those held al fair value through income and expenditure, are assessed
for indicators of impairment at each reporting dale. Financial assets are impaired where there is
objects've evidence that, as a result one or MO￿ events that occurred after the initial recognition of the
financial asset, the estimated future cash flows have been affected.

Page 8
If an asset is impaired, the imp8irmenl loss is the difference between the carrying 8mounl and the
present value of the estimated cash flows discounted at the assevs original effective interest rate.
The imp8im)enl loss is recognised in nel incomellexpendilurel for the year.
If there is a decrease in the impairment Ioss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does
not exceed what the carrying amount would have been, had the impairment previously been
recognised. The impaimient reversal is recognised in nel incomellexpenditurel for the year.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised al transaction
price unless the arrangement conslitules a financing transaction, where the debt instrument is
measured 81 the present value of the future receipts discounted al 8 market rale of interest. Debt
instruments are subsequently carried al amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Accounts payable are classed as current liabilities if payment is
due within one year or less. If not. they are presented as non-current liabilities. Trade payables are
recognised initially al transaction pr*ce and subsequenuy measured at amorb'sed cost using the
effective interest method.
Derecognition of tinancial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
2. CRITICAL ACCOUNTING ESTIMATES ANO JUDGEMENTS
In the application of the charity's accounting policies, the Iruslees are required lo make judgements.
estimates and assumptSons atx)ul the carrying amount of assets and liabilities that are not readily
apparent from other sources. The eslimales and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting eslimales 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 affects only that period, or in the period of the
revision and future periods where the revision affects both current and future periods.

ryx

Pag8 10
COULTER TRUST
TERED C
ARITY NO 1
4039
Notes to the AccoLthts For the
ear •nd8d 5th A rll 2023
6. GOVERNANCE COSTS IINCL VATI
Year ended
5.4.23
1,296.00
19,475.30
Year ended
5.4.22
1.098.aO
18.150.00
1,560.00
20,808.00
Audilorsllnd8pendent Examiwrs fees
Irwln Mitchell LLP- ¢haiges
Twenly Four Old 8uiidings- Counsel fees
20,771.30
BasL% of allo¢ation'. All of the goveran¢e c48ts are allocated lo Ihe ¢haritEe$ activity of grant makSng lotalling £20.771 in 2023
1£20,808 in 20221
7. EMPLOYEES
Number of ETnployee$
Them W8r8 no &mployees durfng the year.
8. FIXED ASSETS
Year end8d
Year endèd
4.23
S.4.2
Quoted investments and portfolio cash
Market value S April 2022
AddrtK)ns
Di5posa15
IDecreaselllncie8s& in cash
Net uni&all$ed galnlllos$l
Market vaAJe 5 April 2023
5.679.932.10
880,057.28
(878,449.411
133.336.771
1306,624.421
5 341.578.78
4.985.830.24
1,176,427.09
156,768.481
1649,457 531
223.900.78
5 679 932.10
HKstorical cost of quoted investn*nls
5,167,792.52
5,132,566.45
Listed UK Investments
Li$lÈd Non UK Inyeslments
Cash held in portfolio
2,915.368.95
2,045,878.14
380 331.69
5 341 578.78
2.973,345.53
2,292,918.11
413,888 46
5.879 932 10

Pagtr 11
COULTER TRUST
REGISTERED CHARITY NO. 1140396
Not95 to the Accounts For the
ear ended 6th A rll 20
g. Investments that repre80nt greatèr than 5% 01 tha portfollo by Market Value
Asat
5.4.23
A88t
5.4.22
Holding
Holdlng
Hermes Global High Ylekl
Ishares Physical Gold USD
Lionlrusl Slral Bond
Nlnely On& Global Total Return
Vonlobel 24 Ab5 Rln Cred AQG GBP In$1 Iln¢l
347,300
13.450
350,000
280,000
3,800
305,762.92
423.876 75
326,578.0
238.420.00
342.936.00
334.241.52
385,477.00
351,414.00
269,668.00
358,632.OD
10. DEBTORS
A8at
5.4.23
Asat
5.4.22
Other debtor5
- HM Revellue & Customs Ilnceme Tax Refund)
Divk18nds due
Alornos bank interest due
1,374.06
2,728.63
5,028.38
9,131.07
609.68
2,692.86
3,302.54
A$at
6.4.23
A$at
5.4.22
11. CASH
Barclays Bank P
150,939.58
97.870.77
150,939.58
97.870.77
12. CREDITORS
Asal
6.4.23
A5al
5.4.22
other creditors
Jones Aven5- Audilorllndependenl Examlnation fees
S8nlam UK LimiledlAtomos- InveslnEnl Fees
1.200.0
5,110.48
6,310.48
1,044.00
4,477.96
5,521.96

Page12
COULTER TRUST
REGISTERED CHARITY NO. 1140396
Notes to th& Accounts For the
&ar ended 5th A rll 2023
13. TRANSACTIONS WITH TRUSTEES
There were rbo payments lo Trustees during the year.
14. TRANSACTIONS WITH RELATED PARTIES
Thomas Eggar Trust CoTporalion Limited ITrusleel is a trust company wholly owned by Irwin Mitchell LLP. During the
period Irwin Mitchell LLP provided professional services to the Charity amounting to £19475.3012022.' £18,150).
Al the balan￿ sheet dale, nil12022'.nill was oulslanding in respect of these fees
15. CHARITABLE GRANTS PAYABLE
During the accounting period no grants were made.

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