IM irwinmitchell
COULTER TRUST
REGISTERED CHARITY NUMBER 1140396
FINANCIAL STATEMENTS
For the
ear ended 5th A ril 2024
IRef: 450962271

COULTER TRUST
REGISTERED CHARITY NO. 1140396
Index to the Ftnan¢ial Statements For the
ear ended 5th A rll 2024
Pa
Trusle8s' Report
Itvjependent Examiner5 Repoil
Balance Sheet
Slalernenl ol Finanrial Aclivilies
6-12
Notes lo the Fin8ncial Statements
13-21
Schedule ol Investments

COULTER TRUST
Reglstered Charlty No 1140396
Page 1
TRUSTEES, REPORT
For the year ended 5th April 2024
Full name of Charlty.. Coulter Trust
Natur8 of governing document: ￿11 dated 1 October 2004 01 the late Beryl Coulter who died on 9
October 2007. alld subsequent Deed of Variatitsn dated 28 April
2(Xl9.
Registration Number.. 1140396
Trustees..
Thomas Eggar Trust colp￿8119￿ Lirniled
Dlrectors of Thomas Eggar Trust Corporation Limited..
Paula Caryn Jarnes
D8rran Fawcett
Sarah Phillips
C8101ine Shelton
James Pavey
Michael Taylor
Reglstered Address: Thornas Eggar House, Friary L8ne. Chi¢hestsr. Wesl SLJSSèX. P019 1 UF
Prlnclpal Banker
Barclays Bank Plc, 74-75 East Street, Chicheslei. We81 Su8sex, P019 1 HR
Sollcltors
Irwin Mitchell LLP, Thomas Eggar House, Fri8ry L8n¢. Chiehesler. West
Sussex, P019 1 UF
Independent ExamSners '.
Carp8nler Box. Pip8r House, 4 Dukes Court, Bognor Road,
Chichester. West Sussex, Pofjg 8FX
Oporatlng Rèstrletlons..
To provide lor the purpose of the construction of hom&s of a
roasonable standard lorthe elderly of the Parish ol St. Ouen in Jersey.
SpeclfSc Investment power8.' In accordance with the Trustee Investment Act 1961 as
amended by the Charities (Trustee Investment Act 19611
Order 1995.
Constitution and objects
The objects of the Trust indude the purpose ol thè construcb.on ol homes ol a reasonable standard lor
the elderly olthe Parish olst. Ouen in Jersey as detailed in the Will ol Mrs Beryl Coulter dated 1 Oolobei
2004 and subsequent Deed ol Variation dated 28 April 2009. The TiuslÉes hav& paid due regard lo
guidance issued by the Charity Commission in deading what activities the Trust Should undertake.
GA.. 5518623 1

Page 2
Organlsatlon
Th8 Trustees who served during the year and since the year end are set out on paoe 1. The Trustees
met during the year to consider the future of the Trust. The statutory power ol appointment applies in
connection wth the appointM￿l olTrustees and Is exerels8ble by the continuing and retiring Trustees.
Grant making policy and activities
The Trustees are currently wailing for planning C￿$$nI. and On￿ this has been granted, the TrLJslees
will consi¢Jer making grants in a phased proTrss.
Achlevement5 and performance
During the year the Trust has continued lo investigate possible sites lor the C￿StrUC00n in tho Parish
ol St Ouen and has engaged in discussions about the availability ol planning pemiission.
Financial Review and investment pollcy
During ihe year incoming resouree5 lolalled £213,38212023.' £185,955) resources expended lo18lled
£40,70312023.. £40,448) and other recognised gains totalled £83.82312023.. 108ses of £425,752). As
a result the fund balan￿ carrled forward al 5" April 2024 was £5.751,840.
The incoming resources eollsist of dividend income from investments and bank deposit interest. The
Trustees approach in connection with the level of grant making each year is lo distribute up to the
forecasted incom& r6c8ivable.
Reserves pollcy
It 15 the policy of the charity to maintain unrestricted funds. which are the free reserves of the charity.
There are sufficient funds lo cover management and administration costs and to respond lo emergency
8pplications for grants which arise from time to tirne. Unreslrided funds were maintained al this level
throughout the year.
Rlsk manag•m•nt
The ttustees have exarnined the major strategic, business and opeialional iisks which the charity laces
and confirm that systems have beèn 88lablished to enable regular reports to be produced so that the
necessary steps can be taken to lessen these risks.
Trustees re3ponslbllities
Law applicable to charities in England arid Wales requires the Trustees to prepare financi81813lernenls
for ea¢h financial year which give a true and fair wew of the Charity's Iinancial activities during the year
and ol ils finanaal positron al the end ol the year. In preparing those financial slatemenls, the Trustees
are required lo..
select suitable accounting policies and then ap￿Y them consislenuy.,
ob5etve the methods and principles in the Charities SORP,
make judgments and estimate5 that are reasonable and prudent.,
slate whether applicable accounts'ng standards and statements of recomfflended practice have
been followed, subject to any m8leri81 departures disclosed and explained in the financi81
statements,. and
prepare the financial Statements on the going concern basis unless it is inappropriate lo
piesume that the Charity will continue to operate.
The Trustees are responsible lor keeping aCcoun￿ng rseords which di8do8e with reasonable accura
at any time the finallcial posltion of the Charity and to ensure that the financial slaternents comply with
the Chaiities Act 2011. They are also responsible for safegu8iding the assets of the Charity and
hence lor taking reasonab￿ steps for the prevention and detection ol fraud and other irregularities.
16 1011202r
Dated
Thomas Eggar Trust Corporation Li
GA.. 5518623 1
ited

Page 3
COULTER TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COULTER TRUST
I report lo the Iruslees on my examlnalk)n ofthe financlal slat8m8nls of Coutter Tru8t Ilh8 charity) for the year
ended 5 April 2024.
R¢$pon$lbllltl¢s and basts of rèw)rt
As the Iruslees of Ihe charily you are responsib￿ for the pr8paralion of the finanaal statements in accoidance
Ilh th& requlremenls of the Charities Act 2011 Ilha 2011 Acll.
I rewrt in respect of my ex2minalion of the charily's financial slalem8nls carrred out under section 145 of the
2011 Act. In carrying oul my examin81ion I have folbw6d all the applicable Direclions given by Ihe Charily
Cemmission under secthjn 14515110) of the 2011 Acl.
Independent examlnovs statement
I have completed my examinalion. I confirm that no mallers have come to my allenlion in connection with the
examinalion giving me cause to believe that in any Tllalerial re5pecl.'
aGcounling rewrds were not kept In resp8¢1 of th& d)arily as requlr&d by se¢ll(x) 130 of lh8 20fj1 Act.. or
the financial slalemenis do not accord wilh those records., or
the financial slalemen15 do not Gomply with the applicable reqviretnenls concerniNJ Ihe lottn and conlenl
of accounts sel eul in the charil￿S IAccounls and Reporis) Regulalions 2008 other than any fe9uiremenl
that thé a¢¢ounl$ glv& a tru8 and fair v￿W which is Ml 8 matter consk18r8d 8s part of an independent
examination.
I hav? no Con￿1n$ and have ¢om8 across no other mallers In conr￿ctIon wllh th8 examlnalion lo whlch
allention should be drawn in this report In order to enabk a proper under$tandlng of th8 financlal slal&ments lo
be reached.
Clalre Norwood Bsc FCAATII
Caip&nler 8ox
Piper Hov5e
4 Dukes Court
Bognor Rosd
Chkhester
West Sussex
P019 8FX
2010112025
Dated..
8638862.1

Pago 4
ER TRUST
REGISTERED CHARITY NO. 1140396
an¢0 Shoet as at 5th A ril 2024
As at 6.4.24
Fixed Assets
Inveslmenls al value
5.639.142.50
5,341,678.78
Current Assets
Debiors
Cash
10
37.995.73
81,224.16
119,219.89
9.131.07
150.939.58
100.070.85
LIa￿lI11￿5 falllng duewtthln 12 monl
Creditors
Net Currenl Assals
Total A888t8 1988 Curront Llablllt1è8
12
6,522.08
6,310.48
112.697 81
5,751.840.31
153.760.17
5,495.338.D5
balance As al 5.4.24
Unrestrlcted
5.751,840.31
5.495.338.95
iÉ>loil Zo2
The financk81 Stslemenls were approved by the board of Iiusiees on.............................................and ￿9Th8d on Ns behalf by
Thomas Eggar Trust Cotporalion Limited
Truslee
The notes on pages 6 to 12 fomi p8rl of Ihts& attounls

Page
COULTER TRUST
EGISTERED CHARITY NO.1140396
ment of Flnancial Actlvltles For the
earended 6th A
Income and Ex
&ndlturo Account
ril 2024
Year ended
5.4.24
Y&arend6d
5.4.2
No
Incomlng Resources
Incoining resources frotn gèntral8d funds
Gross investment income
Total Incomlng ro8ourc6s
213.381.67
213.381.67
185.955.36
185.955.36
Resources expended
Charitable a¢11￿1￿8
115,588.001
120.771.301
Cost of generaliro funds
Inveslmenl fflanagement Costs
Total Rosour¢98 Expènd8d
25,114.81
140,702.811
19,677.06
140.448.361
Other Recognlsed Galn8llLo58eBI
Realised Ilossllgain on salt of invesimenls
Unieallsed galnlllossl on Inv6s1menls
Not Movement In Funds
195,720.221
179.542.72
256.501.36
1119,127.081
306.824.421
1280,244.501
Fund balancè brouyhl forward
5,495,338.95
5,775.583.45
Fund balance carried ftsrwaid 5A.24
5,751.840.31
5,495.338.95
Nont of Ihtr Cha¢iVs acilviueswere a¢quSred ordlsconlinued during Ihe above period.
The Chaiily has no recogniseil gains or losse5 Olher than those d88llwllh in thfr Slalemenl of ￿nanc￿91 Actmlies.
The not88 on pag&s e 10 12 form partof these account5.

Page 6
COULTER TRUST
REGISTERED CHARITY NO. 1140396
Notes to the Accounts for the
ear ènded 5th A ril 2024
1 ACCOUNTING POLICIES
The Coulter Trust is an unincorpora18d charity. registered wth the Charity Commlssion nuinbei
1140396 The registered address is
Thomas Eggar House, Friary Lane, Chic*esler, West Sussex, P019 1UF
1.1 ACCOUNTING CONVENTION
The financial statements have been pi8p8red in accordance with Charities Act 2011 and Aowunlillg
and Reporting by Charities.. Statement ol Recommended Practi￿ applic8ble lo charities preparing their
accounls in accordan￿ with the Fin8nci81 Reporting Standard applicable in the UK and Republic ol
Ireland IFRS 1021" las amended for accounts'ng periods commencing frorn 1 January 20191. The charity
is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared ill s18rling, which is ihe functional currency of the tharity.
The accounts have been prepared on the hislori¢al cost ¢<￿VentIOn modified for the revaluation of
inveslmenls. The principal accounting poliaes adopted are set out below.
1.2 GOING CONCERN
Al the lime ol approving the acc()LJnt5, th8 trustees have reasonable expectation that the charity has
adequate resour￿$ lo continue in operational existence lor the foreseeable future. Thus the trustees,
Tr)ntinue to adopt the going ¢tr￿￿r￿ basis of accounting in preparation ol the accounts.
1.3 CHARITABLE FUNDS & FUND ACCOUNTING
Un￿str￿eted funds are available lor use at the discretion olthe trustees In further8nce oltheircharilable
objectives unless the funds have been designated for other pur¢y)ses.
Incoming Resources
Incoming resourc8s includes investmenl iwome, which is recogniséd when the charity has a legal right
lo the income.
The gain or loss arising on the disposal ol an asset is delerrnined as the difference beiween the sa18
proceeds and thè c811ying value ol the asse( and is recognised In nel in¢omellexpeiKliturel for the
year.

Paga 7
1.4 GRANTS PAYABLE
Grants payable are debited lo expenditure within the Statement of Financial Activit￿$ in the period to
which they relate.
1.5 INVESTMENTS AND INVESTMENT INCOME
All investments are 5tal8d al f8ir value 8nd the movernenl shown comprises both realised 8nd
unrealised gains and losses.
Realised gains or losses arising on the disposal ol investments (together with provisions for diminution
in value). are credited 01 debited tt> the Statement of Financial Aclivilies, and Subsequently transferred
to Unrestricted Funds.
1.6 CHARITABLE ACTIVITIES
The cost ol charitable aclivits'es consists of grants made.
1.7 COST OF GENERATING FUNDS
The cost ol generating funds con&sls ol investment management fees.
1.8 GOVERNANCE COSTS
Gov8inance cost5 compiise all costs involving th8 public accountability of the charity and its cornplian
with regulation and good practice. These costs include cosls related to statul(xy audit and legal fees
logelh8r with other overhead and sUPPOrt costs.
1.9 CASH AND CASH EQUIVALENTS
Cash 8nd cash eqLJivalents include deposits held Bt call with banks.
1.10 FINANCIAL INSTRUMENTS
The charity has elected to apply the provti%ions of Section 11 'Basic Finanaal Instruments. and sedion
12"Other Financial Instiumgnls Issues" of FRS 10210 all of its financial instrurnenls.
Finan￿8185881s 8nd liabilities arts offset. the nel amoun18 pie8enled in the finanoal stalemenls.
when there is a legally enlorceable right to set off the recognised amounts and there is an intention tr)
settle on 8 nel basis or to realise th9 8$5818lld 8ellle the liability simultaneously.
Basic financial assets
Basic financi8185set5, which includes debtors and cash and b8nk balance5. are initially rneasvred al
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement conslitules a lin8ncing Iransacts'on, where the
transaction is measured at the present value of the future receipts discoLJnted at a market rale of
interest. Finanrial assets dassIf￿￿ as re￿Ivable within one year are nol amortised.
Impaimient of financial as8et5
Financial assèts. other than those held at fair value throLJgh Income and expenditure, aré assessed lor
indicators of impairrnent at each reporting date. Financial assets are impaired where there is objective
evidence that. as a result one or more events that occurred after the initial recognition of th8 financial
asset. the estimated fijture cash flows have been affected.

Page 8
If an asset is impaired, the impairment loss is the dIfferell￿ between the carrying arnount and the
present value of the estimated cash flows discounted at the asset's original effective int8ie81 rate. The
impaimient loss is recognised in nel incomellexpendilurel for the year.
If there is a decrease in the impairment loss arising frorn an event occurring after the impairment was
rècognised, the impaiimenl is reversed. The reversal is such that the current carrylng amount does not
exceed what the carrying amount would have been, had the irnpairfflent prevDusly been recognised.
The irnpairrnenl reversal is recognised in nel incomellexpenditurel for thè y88r.
Baslc flnanelal Ilabllltlas
Basic financial liabilities, including trade and other payables, 8re initially recognised at transaction price
unles5 the arrangement consts'lutes a financing transaction, where the debt instrum@nl is measured at
the present value ol the future receipt5 discounted at a market rate ol interest. Debt instruments are
subsequ8nlly carried al amorlised cost, using the effecbve interest rate method.
Trade payables are obligations to pay lor goods or services that have been acqui18d in the oidinary
course ol operatson5 from suppliers Accounts payable are c18ssed as current liabilities il payment is
due within one year or less. 11 not, they are presented as non-current liabilities. Trade payables are
recognised initially attransaction price and subsequently measured alamortised cost using the effective
interest method.
D•racognltlon of flnanclal IlabllltleB
Finanaal liabilities are dereeognlsed when the tharity's contractual obligations expire orare discharged
or cancelled.
2. CRITICALACCOUNTING ESTIMATES AND JUDGEMENTS
In the application ol the charity's accounting policies. the trustees are required to make judgements,
eslimales and assurnplions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The eslimales and 8580cialed assumptions are based on historical
experien￿ and other factors that are considered to be relevant. Actual iesults may differ from these
estimates.
The estimates and underfying assumptlons 8re rèviewed on an ongoing basis. Remsions lo accounts'ng
eslim8les are recognised in period in which the estimate is revised where the revision affects only
that period, or in the period ol the revision affects only th81 p8riod. or in the period ol the revision and
future periods where the revision affects both current and future periods.

P49q$
LT
REOISTEREO CHARIYY MO. 11405SB
QROSSINWES7￿NTINComE
6.4.24
Tax
RÈeovèrabl
18824
&4.lJ
Tix
NÈt
74,8(&04
74,W2e
9S.35#.44
.123.$2
I18.￿.74
11&è2474
.*8&5
80,&&85
D1h￿t￿l￿o5l￿￿r{¢¢
I9,4￿.65
8.*?.6
IntqFOglrolaKr￿QV9r
213 19343
COSTOFGENEIIAllN¢3FVND5IINCLVA
Y¢ar¢nd¢O
S.4.23
6A.24
UKLlffllbithAtomos
1$677.06
fj. CHARITABLEACTIVITI&
GrgnlsPayab
shorè￿9￿¥¢M9nL¢OX
15.5B&QD
1$.58600
20.771.
20.7P1 9)

Pagelo
COULTER TRUST
REGISTERED CHARITY NO. 1140396
otes to the Accounts For the
ear ended Slh A rll
S. GOVERNANCE COSTS IINCL VATJ
Year •ndod
Yoar en(Jod
6.4.23
1,296.00
19.475.30
20,771.30
5.4.24
1.260.00
14.328.00
15.588.00
Independenl Examiners fees
I￿vIn Mitchell LLP- Charges
Basls ofalh)callon'. All of th8 gO￿ranc￿ costÈ are albcaled lo the chBrflle$ 8clI￿llY of grant maklng lolalllng £15,586 In 2024
1£20.771 in 20231
7. EMPLOYEES
Number of Employ888
There were no employees durhg the yeBr.
B. FIXED ASSETS
Y98r ondgd
5.4.24
Year onded
Quoted inveslttbenls and portfolio ¢85h
Market value S April 2023
Aodillons
Disposals
IDe¢reaSel￿ncreaSe in cash
Nel unrealSsed galnlllossl
Market valu8 5 April 2024
5,341.578.78
5,392.986.27
15,166,928.681
(108,036.391
179,542.72
5,639.142.50
5,679,932.10
880.057.28
IB78.449.411
133,336.771
1306.624.421
5,341,578.78
H15tortc&l c051 olquole(I Inve51mgnts
5 146.147.59
5,167.792.52
Listed UK Inveslmenls
Llsled Non UK Investments
Cash held In porilollo
1,408,284.85
3.958.562.35
272,295.30
5 639,142.50
2.915.368.95
2.045.678.14
380.331.69
6.341.578.78

P4ge11
COULTER TRUST
REGISTERED CHARITY NO. 1140396
es
hBA
9. INVESTMENTS THAT REPRESENT GREATER THAN 6% OF THE PORTFOLIO BY MARKET VALLII
Asat
Asat
6.4.23
Holdlng
Holdlng
Hemies Global High Yield
Ishares Physlcal Gdd USO
Lionliusl Slral Bond
Ninety One Global Tolal Relu
Vonlobèl 24 Abs Rin Créd AQG GBP Insi Ilncl
AXA Ad Carb Tmsln Sllg Buy & Mnln
L&G Global Re81 E$lale Div Index C Inc
Allas Global Infraslruclure Bgbp Unhedged
European Spec Inv M&G cred Inv A GBP Hgd 015
Robèco QI Glbl Mulli-fador Crdls Zbh GBP
Slal8 Slreet SSGABIF
Slate Slreel SSGT8IF B
347,300
13,450
350.000
280.DOO
3,600
362.700
503.583
2.073
3.469
7,210
79.163.0674
27.480.3337
305,762.92
423,876.75
326,578.00
238,420.00
342,936.00
369,591.30
287.344.46
284.299.06
366.373.58
754,670.70
812,965.12
282.572.03
10. DEBTORS
Asat
6.4.24
Asat
S.4.23
Olherdfyblors
- HM Revenue & CU5t(¥T1￿ (In￿rne Tgx Refund)
Dividends due
- Alomos bank Inlwesl due
1.562.30
30,714.33
5.719.10
37,995.73
1.374.06
2,728.63
5.028.38
9,131.07
Asat
5.&2J
11. CASH
5.4.24
B8rdoys Bank PIC
81.224.16
150.939.58
81,224.16
150,939.58
12. CREDITORS
Asat
5.4.24
Asat
Othercredilors
Carpanler BoxlJones Avans- Independenl Examlnallon fees
5anlam UK LimiledlAlomos- Investment Fees
1.260.(M)
6.262.08
6.522.08
1,200.(K)
5.110.48
6,310.48

Page12
COULTER TRUST
ERED CHARITY NO. 1140396
RE
otes to the Accounts For the
ear ended 5th A rll 2024
13. TRANSACTIONS WITH TRUSTEES
There were no payrnenls to Trustees during the year.
14. TRANSACTIONS WITH RELATED PARTIES
Thoma5 Eggar Tr(Jsl Corporation Limited (frusleel is a trust company wholly owned by Imin Mllchall LLP. Durlng Ihf
period Irwin Mitchell LLP provided professional services to the Charity amounting to £14,32812023.. £19,475.301.
Al the balance sheet date. nil12023'.nill w85 oulslanding in respect ol these fees
15. CHARITABLE GRANTS PAYABLE
During the accounting period no grants were rnade.

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