REGISTERED CHARrrY NUMBER: 1149600
Report of the Trustees and
Flnanclal Statements for the Year Ended 5th Aprll 2024
for
Elgar Family Charltable Trust
The Rlchards Sandy Partnership
Thomeloe House
25 Barboume Road
Worcester
Worcesiershire
WR1 1RU

Elgar Famlly Charitable Trust
Conlents of the Flnancial Statements
for the Year Ended 5th April 2024
Page
Reference and Administrallve Detalls
Report of tho Trustees
2 to 3
Independent Examlnerfs Report
Statoment of Financial Acllvltles
Balance Sheet
Notes to the Financlal Stslements
7 to 12

Elgar Famity Charitable Trust
Reference and Admlnistrallve Detalls
for the Year Ended 5th April 2024
TRUSTEES
Miss H F Elgar
Mr M F Messenger
Mr D A Watson lappoinled 4.7.23)
Mr M W Trott (appointed 4.7.23)
PRINCIPAL ADDRESS
clo Hallmark Wh81Jey Hulme
3.4 and 5 Sansome Place
Worcester
Worcestershire
WR1 1UQ
REGISTERED CHARITY NUMBER
1149600
INDEPENDENT EXAMINER
The Richards Sandy Partnership
ThcKneloe House
25 Barbourne Rozd
Worcester
Worcestetshire
WR1 1RU
SOLICITORS
Hallmark Whatley Hulme
3,4 and S Sansome Place
Worcester
WR1 1UQ
BANKERS
Brown Shipley
2 Moorgate
London
EC2R 6AG
Page 1

Elgar Famlly Charftsble Tfust
Report of thè Trustees
for the Year Ended 5th April 2024
The trustees present their report vrith the financial statements of the charity for the year ended 5th April 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporfing Standard applicable in the
UK and Republic of Ireland IFRS 102) (effedive 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main object of Elgar Family Charitable Trust is to support any charity or fijrther any tharitable purpose chosen by
the trustees.
Since the Nabonal Twst tix)k on a fivtryear lease of The Firs in December 2016, the charity is also committed to lunding
any shortfall requirements at The Firs.
Public benefit
The trustees confimi that they have complied with the duty in section 17(51 of the 2011 Charitie5 Act lo have due regard
to the guidance on public benefft published by the Charity Commission when deciding on the charity's activities.
ACHIEVEMENT AND PERFORMANCE
Total incoming resources during the year amounted to £46.801 (2023: £40,157) which was made up of income frorn
investments and royalty incorne.
Grants awarded by the charity in the year totalled £nil12023.' £nil).
FINANCIAL REVIEW
Flnan¢lal position
The principal fvnding source is income from the ¢hariVs investments. Dividend and Royalties Income for the year was
£46.801 12023: £40,157). The Trust had Investment Management costs of £23,520 12023.. £24,000) and other
expenditure of £20.129 {2023'. £16,862). This gave a surplus for the year of £3,152 prior to gains on inveslments (2023..
deficit £705). Gains on investments were £94,033 (2023: losses £138,961), leaving a nel in¢rease in funds of £97,185
12023: net decrease £139,666).
Investment policy
The Elgar Family Charitable Trust has no restricted funds and a total return approach is used for the management of its
investment portfolio. Brown ShipEey act as Investment Manager to the Trustees.
l income is genetated from assets which are unrestfÉCted.
Reserves policy
Tolal unreslricted general reserves at 5 April 2024 amounted to £2.483.316 {2023: £2.386.1311 all of which relate to
unrestricled funds. Of this. £504.176 12023: £504,176) relates lo freehold property and £1.729,938 12023: £1,659.203}
relales to investment assels held to pr(yJuce inix)tne io enable the charity to fvlfil its objecttves. This teaves free
reserves of £249.202 (2023.. £222.7521.
It is the Iruslees, pdicy to retain sufficient free reseNes lo cover any urrforeseen fvlure expenditure, bul otherwise
distribute as much of its free reserves incorne as possible to oth8r charities.
STRUCTURE. GOVERNANce AND MANAGEMENT
Governing document
The Elgar Family Charilablg Trust is constituted under a trust deed dated 24 August 2012 and registered as a charity on
2 November 2012 (Charity number 1149600}.
Récruitment and appolnlJnent of new trustses
The recruitment and appointment of new trustees is carried out at the discretion of the current trustees.
Page 2

Elgar Family Charitable Trnst
Roport of the Trustees
for the Year Ended 5th Aprll 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT
Decision making
The Founder. at present the settler Hilary Frances Elgar {a trustee). has the followlng poweTS under the trust deed..
The power to appoint new trustees {proMding the total number of tNstees shall at no time exceed four)..
The power to direct the bustee5 to make donations to such charita￿e institutions at such time or times and in
such manner as the Founder directs. Where Ihe Founder has not by 5 April in the income tax year following that
in which the income arises, given a direction which fully, disposes of the income, then such income shall be
distributed as Ihe Irustees, in their discretion. think fit,
The power of appointing a person or persons to succeed the Founder is vested in the Founder for the time
being.
Apart from decisions made by the founder, deo5ions are made by majority vote.
Holdlng TNstees
The following trustees are holding trustees of all propety included within tsngible fixed assets:
Miss H F Elgar
Mr M F Messenger
Risk management
The trustees have a duty to identity and review the risks to which the charity is exposed and to ensure approprlate
controls are in place to pri)vide reasonable assuranc8 against fraud and error.
EVENTS SINCE THE END OF THE YEAR
Inforfflation relating lo events since the end of the year is given in the notes to the financial sialements.
nd signed on its behalf by-.
Approv8d by order ofthe board of truslees on ......
Miss H F Elqar-
slee
Page 3

Independent Examinerfs Report to thé Trustees of
Elgar Famlly Charitable Trust
Independent examiner's report to the trustees of Elgar Famlly Charftable Trust
I report to the charlly twslees on my examination of the accounts of Elgar Family Charitable Trust (the Trust) for the
year ended 5th April 2D24.
Responsibilities and basis of report
As the charity Injstees of the Trust YOLJ are responsible for the p￿paratIon of the accounts in accordance with the
requirements of the Chari118s Act 20111'the Act'l.
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and In carrying oul
my examination I have followed all applicable Directions given by the Charty Commission under Section 14515llb} of
the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my attention In connection wth the
examination giving me cause lo believe that in any material respect=
accounling record5 were not kept in respect of the Trust as required by Section 130 of the Act., or
the accounts do not accord with those records,. or
the accounts do not Comp￿ Tmth the applicable requirements conceming the fom and conlenl of accounts set
i)ut in the Charitie5 {Accounls and Reports} Regulations 2008 other than any requirement that the aGGounls give
a true and fair view which is not a matter considered as part of an indepèndent examination.
I have no concems and hav9 corne across no olher matters in connection with the examination to wh￿h attention should
be drawn in this report In order to en8ble a proper understanding of the acenunls to be reached.
Melissa Godwn ACA ACCA
The Richards Sandy Partnership
Thomeloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU
Dale: !.?:.,L)z.: z.s.........
Page 4

Elgar Famlty Charltable Trust
Statement ol Finanelal Actlvltles
for the Year Ended 5th April 2024
2024
Unrestrictfrd
funds
2023
Totsl
funds
Notes
INCOME AND ENDOWMENTS FROM
Investrnent income
46.801
40,157
EXPENDITURE ON
Raising funds
23,580
24,078
Charltabl8 activitie$
Charitable activities
20.069
16,784
Total
43,649
40,862
Net gainslllosses) on Investments
94,033
1138,961)
NEf INCOMEI(EXPENDITURE)
97,185
1139,666)
RECONCILiATION OF FUNDS
Total funds brought forward
2.386.131
2,525,797
TOTAL FUNDS CARRIED FORWARD
2,483,316
2,386,131
The notes form part of these financial statements
Page 5

Elgar Farnlty Charitsblo Trust
Balance Sheet
5th April 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
FIXED ASSETS
Tangible assels
Investments
11
12
504.176
1,729,938
504,176
1,659.203
2,234,114
2.163,379
CURRENT ASs￿s
Debtors
Cash al bank
13
4,621
248,634
3,848
221,904
253,255
225,752
CREDtfoRS
Amounts falling due within one year
14
(4,053)
13,0001
NET CURRENT ASSErs
249,202
222,752
TOTAL ASSETS LESS CURRENT LIABILITIES
2,483.316
2.386.131
NET ASSETS
2,483,316
2,386,131
FUNDS
Unrestricted funds
15
2.483,316
2.386,131
TOTAL FUNDS
2,483,316
2,386,131
The financial ststem8ntS Ware approved by the Board of Trustees and authorised for issue
and were signed on its behalf by..
on
Miss H F Elgar-
rus
The notes form part of these finanual statements
Page 6

Elgar Famity Charftable Trust
Notes to the Flnanclal Statements
for the Year Ended 51h Aprfl 2024
ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, whlch Is a public benefit entlty under FRS 102. have been prepared in
accordance with the Charities SORP IFRS 1021 'A￿o￿nting and Reporting by Charilies: Statement of
Recommended Practice applicable to ¢harilies preparing their accounts in accordance wth Ihe Financial
Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 {effective 1 January 2019),.
Financial Reporting Standard 102 The Finaneial Reporting Standard applicable in the UK and Republi¢ of
Ireland, and the Charitles Act 2011. The financial ststemenls have been prepared under the historical cost
convention, with the exception of inveslmenls which are included at market value, as modified by the revaluation
of certain assels.
The charity is exempt from preparing a cashtlow stslement because it is not a larger chanty.
The a¢rA)unls are prepared in sterfing, which is the functional currency of the charity. Monetsry amounts in these
financial statements are rounded to the nearest £.
INCOME
Income, induding legacies and donations, is recognlsed in the perlod in which the charity is entitled to re￿Ipl
and the amounl be me?sured with reasonable ￿rtainty. Income is deferred onty when the charity has to
fuffil conditlons before becoming entitled to il or Whe￿ Ihe donor has spectfied that the income is to be expended
in a future period.
Income from investments is recognlsed when the relating investments issue notice of distribution lo ils investors.
EXPENDITURE
Expenditure is included on an accruals basis. Liabilities are included in the a¢¢ounts as soon as recognised.
Charitsble advlties costs include grant funding and support costs which are all allocaled to charitable activities
and this is the predominant activity. Grants payable are charged in the year when the offer is conveyed to the
recipient except in those cases where the offer is condiiional, such grants being recognised as expenditure when
the conditions attaching are fulfilled. Granls offered subject lo conditions which have not been met at the year
end are noted as a commitment but not accrued as expenditure.
Govemance Costs comprise the costs of wnning Ihe charity, including strategic planning for its fvlure
development, also inlemal and extemal audit. and legal advi¢e for the Trustees. and all the Costs of complying
th constitutional and statutory requirements, such as Ihe cosis of Board and Committee meetings and of
preparing statutory accounts and satisfying public accountability.
TANGIBLE FIXED ASSETS
Freehold propety is held under the historical cost model and is not depreciated as residual value is not
considered likely to be less than historlcal ￿>S1. The trustees review for impaimient annually.
TAXATION
The ¢harily is exempt from tax on its charitable activitses.
FUND ACCOUNTING
UnrestriGted funds can be used in accordance with the Chan￿ble objectives at the discretion of the trustees.
INVESTMENTS
Investments quoted on a recognised stock exchange are valued at market value at the year end. Both realised
and unrealised gains are shown under'net gains I (losses) on investments, on the face of the SOFA.
Page 7
contSnued...

Elgar Famlty Charltablo Trust
Notes to the Financial Statements - contlnued
for the Year Ended 5th April 2024
INVESTMENT INCOME
2024
2023
Royalties
Dimdends re￿iVed
Interest ￿ceivable- trading
4,125
40,770
1,906
3,039
36,982
136
46,801
40,157
RAISING FUNDS
INVESTMENT MANAGEMENT COSTS
2024
2023
Stockbrokerfs fees
Adminislrative expenses
23,520
60
24,000
78
23.580
24.078
CHARITABLE ACTivrriES COSTS
Direct
Costs (see
note 51
Support
costs (see
note 6)
Totals
Charitable activities
9,475
10.594
20.069
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
2023
Rates and water
Light and heat
Repairs and maintenan
2.930
4.151
2,394
2,701
1.472
6,41)0
9.475
10,573
SUPPORT COSTS
Govemance
cosis
Management
Totals
Charitable actimties
10,548
10,594
Support cost5, included in the above. are as follows:
2024
Charitsble
ac*vibes
2023
Total
acti)rities
Sundries
Legal fees
Independent examiner
9.618
930
5,323
10.594
6,211
Page 8
continued...

Elgar Family Charftable Trust
Notes to the Financial Ststements . continued
for the Year Ended 5th April 2024
TRUSTEES. REMUNERATION AND BENEFITS
There were no Iruslees, remuneration or other benefits for the year ended 5th April 2024 nor for the year ended
5th April 2023.
TRUSTEES. EXPENSES
There were no Iruslees, expenses paid for the year ended 5ih April 2024 nor for the year ended 5th April 2023.
STAFF COSTS
The charity had no employees during the year ended 5 April 2024 nor during the year ended 5 April 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcT￿lEs
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Investmenl incom6
40,157
EXPENDITURE ON
Raising lunds
24,078
Charitablo actlvltles
Charitsble activities
16.784
Total
40,862
Net gainsl{losses) on Investments
1138,961)
NET INCOMEI{EXPENDITURE)
1139,666)
RECONCILIATION OF FUNDS
Total funds brought forward
2.525.797
TOTAL FUNDS CARRIED FORWARD
2,386.131
10.
FINANCIAL INSTRUMENTS
The charity has elected to appty the provision of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Flnancial Instrumenl Issues. of FRS 102 to all of its financ¢al instruments.
Financial instrumenls are recognised when the charity beGomes party to contractual provisions of the instrumenL
Financial assets are offse( with the net amounts presented in the accounts where Ihere is a legalty enforceable
rlght to set off the recognlsed amounts and there is an intentlon lo settle on a net basis or to realise the asset
and settl8 the liability simultsneously.
Baslc Financial Assets
Basic financial a55els. which include trade and other receivablas and cash and bank balances, are initially
measured at transaction price induding transaction costs and are subsequently carried at amortised cosl using
the effeclive interest method unless the arrangement constitutes a financing transaclion. where Ihe transaction 15
measured at the present value o* the (uiure receipts discounted at a market rate of interest
Baslc Financial Liabilities
Basic finarbLial liabilities. including trade and other payables, are initially recogni5ed at trdnsaction prices unless
the aThangement constitutes a financing transaction. where the debt instrument is measured at the present value
of ftjlure receipls. discounted at a market rate of interest. Debt instruments are subsequenlw carried at
amortlsed cost, using the effective interest rate method.
Page 9
continued...

Elgar Famlly Charitsble Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 2024
10.
FINANCIAL INSTRUMENTS - continued
Trade payables are obligations to Pay for goods or services that have been acquired in the ordinary coutse of
the operations from supplies. Accounts payable are dassified as ojrrent liabilities if payment is due within one
year or less. If not. they are presented as non-current liabilities. Trade payables are recognised initially at
transaction cost..
11.
TANGIBLE FIXED ASSETS
F￿hOld
property
COST
At 6th April 2023 and 5th April 2024
504,176
NET BOOK VALUE
At 5th April 2024
504,176
At 5th April 2023
504.176
The propety, adjacent to Elgar's birthplace, was initl8lly purchased to ensure the surrounding area was nol
developed upon. The trustees had yet to make a final decision on Ihe best way lo use the propety.
FIXEO ASSET INVESTMENTS
12.
Listed
investments
MARKET VALUE
At 6th April 2023
Additions
Disposals
Revaluations
1,659.203
207.469
1230,767
94.033
At 5th April 2024
1,729.938
NET BOOK VALUE
At 5th April 2024
1.729,938
Al 5th April 2023
1,659,203
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Prepayments and accrued incom8
4,621
3.848
Page 10
continued...

Elgar Famlly Charltsble Trust
Notes to the Flnan¢lal Statements - continued
for the Year Ended 5th Aprll 2024
14.
CREDrroRS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR
2024
2023
Aecrued expens8$
4,053
3.000
15.
MOVEMENT IN FUNDS
Net
movement
In furbds
At
5.4.24
At 6.4.23
Unrestrlcted funds
General fund
2.386,131
97,185
2,483,316
TOTAL FUNDS
2,386,131
97,185
2,483,316
Net movement in funds, included in the above 8re as follows..
Incoming
resourr£s
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
46,801
{43,649}
94.033
97,185
TOTAL FUNDS
46.801
143,649}
94.033
97,185
Comparatlves for movement In funds
Net
movement
in funds
Al
5.4.23
At 6.4.22
Unrestrlcted funds
General fund
2,525,797
(139,666)
2.386,131
TOTAL FUNDS
2,525.797
1139.666)
2,386,131
Comparative net movement in funds. included in the above are as fdlows..
Incoming
re59urces
Resources
expended
Gains and
losses
Movemenl
in funds
Unrestrlcted fund$
General fund
40,157
(40,8621
1138,961)
{139.6661
TOTAL FUNDS
40,157
(40,8621
1138,961)
1139,6661
Page 11
continued...

Elgar Famlty Charltablg Trust
Notes to the Financial Statements - contlnued
for the Year Ended 5th April 2024
16.
CONTINGENT LIABILITIES
Since the year end, the charity has committed to contributing £1.2mil towards the endowment for The Firs, which
would be a grant payable to the Natlonal TrusL However, this is contingent on the National Trust formally
agreeing to take on The Firs operations in perpeluity. which has not yel been confirmed.
RELATED PARTY DISCLOSURES
Travel expenses have been reimbursed to trustee D Watson. totalling £46, for the year ended 51h April 2024.
17.
There were no related party trarbsactions for the year ended 5th April 2023.
POST BALANCE SHEET EVENTS
Since the year end, the trustees Intend to apply ft)r plannlng permission to demolish the property held and
develop the sile.
18.
Page 12