Sea Meadow Trust
Annual Report and Financial Statements
Year Ended 31 March 2023
Charity registration number.. 1159913

Sea Meadow Trust
Contents (continued)
Trustees, Report
1 to4
Reference and Adminislralive Details
Statement of Trustees. Responsibilities
Independent Examiner's Report
ststement of Financial Acb'vities
Balance Sheet
Notes to the Financial Statements
91015

Sea Meadow Trust
Trustees, Report
The Iruslees present the annual report together with the financial statements of the charity for the year
ended 31 March 2023.
Objectivos and activitie$
Objects and alms
The objectives of the ¢harity are to..
To advance such charitable purposes according to the law of England and Wales as the trustees see
fil from lime lo time in particular but not limited to the relief of mental and physical distress amongst
those persons suffering from bereavement by providing gonls and accommodation.
Public benefit
We have ref&rred to the guidance contsined in the Charity Commis5ion'5 general guidance on public
benefit when reviewing our aims and objective5 and in planning our future activities. In particular, the
Trustees always consider how planned activities and donations will contribute to the aims and
objectives they have sel.
The Sea Meadow Trustees are committed lo ensuring equality of opportunity for people who we work
with and who come lo us, and we seek to be as inclusive as possible.
Achievements and performance
Following a period of review of the aims of the trust and a review of its granl-making activities. a new
series of donations lo registered charities that correspond with the objects of Sea Meadow Trust was
made in this year.
This year the trust continued to support Sands (Registered Charity 299679. https".IIwwN.sands.org.ukl
with two grants lotalling £25,000. The grants to Sands were unreslricled, bul the charity reported back
that the funding has continued lo help to support resources for bereavement support for siblings.
The Trust supported The Campaign Against Living Miserably ICALMI IRegislered Charity 1110621,
https'.Ilww.Ihecalmzone.neUI with two grants tolalling £20,000. The trustees were keen to support
CALM'S work. taking a sland against Suicide. CALM offers advice, confidential chats online or on the
phone to anyone who is struggling or who needs support or advice.
The trust also supported The David Nott Foundation (Registered Charity 1162537,
https.'Ildavidnottfoundalion.comll with grants tolalling £20,000. The trustees were keen lo support this
foundation s work training SUTgeons to save lives in countries affected by conflict and catsslmphe.
The foundation reported that early in 2023 they had already run five courses in Ukraine, Moldova and
Dijbouti this year.
In total the trust donated £65,000 lo registered charities.
The trustees will continue to take an active role in the granl-making undertaking the appropriate
research and seeking advi￿ where needed. Contact is initiated by the trustees and they are keen to
learn more about organisalions whose work fils with Sea Meadow Trust- unsolicited funding requests
are not encouraged and are unlikely lo be suceessful.
Paga 1

Sea Meadow Trust
Trustees, Report (continued)
Flnancial rovigw
The financial results of the charity for the year are set out on pa9e 7.
These Show a nel movement in fund of1£100,332}. after a loss on investment of1£62,1391. All the
charitys funds are unreslricled and carried forward stsnds al £1,842,967.
The principal funding source for the charity is investment income, which lotalled £40,576.
There were no fundraising activities in the year.
Poli¢y on reserves
The reserves are held to fund the future of the charity.
The Charity holds reseNes within its savings bank account of approximately £35,000. This reserve is
able lo cover the ongoing costs of the charity and contribute towards donations. In this financial year
donations exceeded income due to the accumulation of income from the previous year in which no
donations were made. In gross terms, the investment portfolio produced £40.130 of income in
2022123. The Iruslees are aware that the investment income is variable and not guaranteed.
Therefore, it maintains a cash reserve that could cover the unforeseen charity running costs al all
times.
Investment policy and objectives
The trustees have the responsibility for the investment policy of the trust and they have a Slalement of
Investment Policy IIPSI which is reviewed on an annual basis. The Iruslees seek advice in relation to
investments when appropriate.
The current primary objective of the investment portfolio is capital growth in order to fund future
charitsble donations. The trustees continue to be comfortable with the Brewin Dolphin Risk Category
6 (moderate investment risk) as this is the most likely mandate lo achieve the charity's objectives
whilst undertaking an acceptable level of risk with ils benchmark portfolio invested in 63.50/0 equities,
150/D bonds, 20Dk alternative assets and 1.50/0 cash. The trustees are comfortable that this is the level
of risk that the charity can afford lo lake in relation to ils capacity for loss. The trustees have kept in
close contact with their investment manager and the portfolio has continued to be structured
appropriately in relation to the unsettled financial situation.
In the event of the portfolio not performing as expected the charity has sufficient capacity for loss for
the risk posed by Risk Category 6. The charity has no planned capital expenditure projects and
nobody is reliant on ils capitsl or income. The charity is able to invest for the longer lemi and with no
expected changes to these circumstances.
The trustees consider Risk Level 6 with an Income and Growth mandate is suitable to meet the
Charity's objectives of getting natural income from the portfolio and at the same lime maintaining the
real value of underlying funds. The Iruslees continue to monitor the current financial crisis and remain
comfortable with the the risk level, although this is regularly reviewed.
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Sea Meadow Trust
Trustees, Report (continued)
Plans for future periods
Structure, governance and management
Nature of governing documgnt
The Charity is governed by its Constitution, and is a Charitsble Incorporated Organisation ICIOI. The
Board of Trustees manages the business of the charity. Apart from the first trustees, every trustee is
appointed for a term of three years by a resolution passed at a properfy convened meeting of the
trustees.
Induction and training of trustees
The trustees follow Charity Commission guidelines in relation lo trustee induction and training.
Trustees receive no remuneration and the charity does not employ any staff. It has no plans to lake
on any employees and aims to remain 8 small charity with very low overheads.
11 should be noted that Callum Macdonald ICMI is Angle Butterfield's son and this is declared at the
start of all meetings.
Orgonisation81 structure
The charity's registered address is clo Francis Clark LLP, Lowin House, Tregolls Road. Truro,
Cornwall, TR1 2NA. The Sea Meadow Trust is a registered charity Ino. 11599131. Trustees serving
during the year were..
Mrs Angela Helen Butterfield
Mrs Jacqueline Mary Mccoan Croslhwaite
Mr Callum Charles Macdonald
Major risks and managemgnt of those riTsks
The Board of Trustees annually reviews the major risks lo which the charity is exposed. in particular
those related lo the operations and finances, and is satisfied that systems are in place to mitigate the
charity's exposure to such risks and that procedures have been designed to minimise any potential
impact on the charity should any of them materialise.
The annual report was approved by the Iruslees of the charity on 2 5 11124
behalf by..
and signed on it5
Mrs J M ThAcCoan Croslhwaite
Trustee
Pag6 3

Sea Meadow Trust
Trustees, Report (continued)
Reference and Administrative Details
Trustees
Mrs A Bullerfield
Mrs J M Mccoan Crosthwaite
Mr C Macdonald
Charlty Registration Number
1159913
Principal Office
Lowin House
Tregolls Road
Truro
Cornwall
TR12NA
Independent examlner
Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR12NA
P8ge 4

Sea Meadow Trust
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the trustees, rep)rt and the financial statements in
accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Poeti￿) and applicable law and wulalions.
The law applicable to charities requires the trustees lo prepare financial statements for each financial
year which give a true and fair view of the slate of affairs of the charity and of the incoming resources
and applIcat￿on of resources of the charity for that period. In preparing these financial slatemenls, the
trustees are required lo..
select suitable accounting policies and then apply them consislenuy.,
observe the methods and principles in the Charities SORP..
make judgements and estimates that are reason8ble and prudent.,
slate whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial slatemenls,. and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose wlh reasonable
accuracy al any lime the financial posits'on of the charity and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charities (Accounts and Reports} Regulations
2008, and the provisions of the constitution. The trustees 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 are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 2.5./.11.2 4 and signed on rts behalf by".
Mr5 J M'mccoan Crosthw31te
Trustee
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Sea Meadow Trust
Independent Examiner's Report to the Trustees of Sea Meadow Trust
I report on the accounts of the charity for the year ended 31 March 2023 which are $el out on pages 7
to 15.
Responsibilities and basls of report
As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111'the Act'i.
I report in respect of my examinats.on of the Trusvs accounts cairied out under section 145 of the 2011
Act and in carrying out my examination I have followed 811 the applicable Direcb'ons given by the
Charity Commission under section 145{51{bl of the Act.
Indepgndent examinerfs statement
I have completed my examination. I confirm that no material matters have come lo my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as requried by seelion 130 of the Act., or
the accounts do not accord with those record5', or
the accounts do not comply with applicable requirements concerning the form and content of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
quirement that the accounts give a 'lrue and faiV view which is not a matter considered as part of
an independent examination.
I have no COn￿rnS and have come across no other matters in connection wth the examination to
which attention should be drawn in this report in order lo enable a proper understanding of the
accounts to be reached.
Darren Perry BAjHonsj ACA DChA
Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
Dale..
2611124
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Sea Meadow Trust
Statement of Financial Activities
Year Ended 31 March 2023
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Total
2023
Unrestricted
Note
Income and Endowments from,.
Investment income
40,576
40,576
Expenditure on:
Raising funds
CharitabSe activities
{11,6221
67,147
111.6221
67.147
Total Expenditure
Gainsllosses on investsmenl assets
78,7691
162,139
178,769}
62,139
Net movement in funds
1100,332}
1100,3321
Reconciliation of funds
Total funds brought forward
Total funds carried forward
1,9113,299
1,943,299
11
1,842,967
1,842.967
Total
2022
Unrestricted
Note
Income and Endowments from:
Investment income
34,931
34.931
Expenditure on:
Raising funds
Charitable activities
112,7211
1,969
{12,7211
1,969
Total Expenditure
Gainsllosses on investment assets
14,690
95,613
14,690
95,613
Nel movement in funds
115.854
115.854
Reconciliation of funds
Total funds brought forward
Total funds ¢arried forward
1,827,445
1,827,445
1,943,299
1,943,299
All of the charity's activities derive from continuing operab'ons during the above periods.
The noles on pages 9 to 15 fom an integral part of these financial statements,
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Sea Meadow Trust
Balance Sheet
31 March 2023
2023
2022
Note
Fixed assets
Investments
1,758,124
1,783,464
Current assets
Debtors
Cash al bank and in hand
3,876
86,031
89,907
1,498
163,526
165,024
Creditors: Amounts falling due within one year
10
5,(64
5,189
Net current a$$ets
84,843
159,835
Net assets
1,842,967
1,943,299
Funds of the charity:
Unrestricted income funds
Unreslricled
1,842,967
1,943,299
Total funds
1,842,967
1,943,299
The financial statements on pages 7 to 15 were approved by the trustees, and aulhorised for issue on
2511/.24
and signed on their behalf by..
Mrs J ￿mccoan Crosthwaite
Trustee
The notes on pages 9 to 15 form an inlegial part of these financial slaternents.
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Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023
1 Accounting policies
statement of compllance
The financial statements have been prepared in accordanee with Accounting and Reporting by
Charities". Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective 1 January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Sea Meadow Trust meets the definition of a public benefit entity under FRS 102. A55ets and liabilities
are initially recognised al historical cost or transaction value unless otherwise slated in the relevant
accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern. The main risk is the portfolio not perforrlling as expected. However, the trustees
have evaluated that il has sufficient capacity for Ios5 at this lime and has no planned capital
expenditure projects or any indiviuals reliant on ils income due lo the nature of grant giving.
Income and endowments
Investment income
Investment income is recognised on a receivable basis.
Expenditure
All expenditure is reoognised once there is a legal or constructive obligab'on to that expenditure, il is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed lo particular headings they have been allocated on a basis consi51enl with the
use of resources.
Ralslng funds
These are costs incurred in attracting voluntary income, the management of investments and those
incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of ils activities
and services for 115 beneficiaries. 11 includes both costs that can be allocated direcuy lo such activities
and those costs of an indirect nature necessary lo support them.
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Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023 {continued)
Taxation
The charity is considered to pass the tests sel out in P8ragraph 1 Schedule 6 of the Finance Act 2010
and therefore il meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt trom taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments, other than programme related inveslmenls, are included at market value al
the balance sheet date. Realised gains and losses on investrnents are calculated as the difference
be￿een sales proceeds and their market value al the start of the year, or their subsequent cost, and
are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movernent in market values during the year and are
credited or charged to the Statement of Financial Activities based on the market value al the year end.
Fund structure
Unreslricled income funds are geneml funds that are available for use at the trustee's discretion in
furtherance of the objectives of the Charity
Further details of each fund are disclosed in note 11.
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Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023 (continued)
2 Investment Income
Unrestrlcted
Funds
Total
2023
Total
2022
Interest receivable 8nd similar income.,
Interest receivable on bank deposits
Other income from fixed asset investments
446
40,130
446
40,130
34,922
34,931
40,576
40,576
3 Expenditure on raising funds
Unre¥tri¢ted
funds
Total
2023
Total
2022
Investment management costs
11,622
11.622
12,721
12,721
11,622
11,622
4 Expenditure on charitable activttie5
Actlvlty
undertaken
dlrectly
Total
2023
Total
2022
Independent examination fee
Accounts fee5
Donations
Bank charges
300
1.775
65,000
72
300
1,775
65,000
72
300
1,573
67,147
67,147
1,969
5 Trustegs remuneratlon and expenses
No trustees, nor any persons connected wfth them, have received any remuneration from the charity
during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the
year.
The trustees have considered the key management personnel of the charity and consider it to be
themselves only. Hence remuneration paid to key management personnel in the period was £nil.
Pago11

Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023 (continued)
6 Taxation
The charity is 8 registered charity and is therefore exempt from taxation.
7 Fixed asset investments
2023
2022
Other investments
1,758.124
1,783,464
othor investments
Listed
Investmonts
Total
Cost or Valuation
At 1 April 2022
Revaluation
Additions
Disposals
At 31 March 2023
1,783,464 1,783,4e4
139,1691
139,1691
166.044
166,044
152,2151 1152,2151
1.758,124 1,758.124
Net book value
At 31 March 2023
1.758,124 1,758.124
At 31 March 2022
1,783.464 1,783,464
The listed investments are on a recognised stock exchange and have an original cost of £1.457.536
12022. £1,385,097).
8 Dgbtors
2023
2022
Other debtor5
3,876
1,498
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Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023 (continued)
9 Cash and cash equlvalents
2023
2022
Cash al bank
Short-term deposits
649
85,382
4,955
158,571
86,031
163,526
10 Credltors: amounts falling duo within one year
2023
2022
Accruals
5,064
5,189
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Sea Meadow Trust
Notes to the Financial Statements
Year Ended 31 March 2023 (continued)
12 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 31 March
2023
Fixed asset investments
Current assets
Current liabilities
1.758,124
89,907
5,064
1,758.124
89,907
5,064
Total nel assets
1,842,967
1,842,967
Unrestricted
funds
General
Total funds
at 31 March
2022
Fixed asset investments
Current assets
Current liabilities
1,783,464
165,024
15,189
1,783.464
165,024
15,189
1,943,299
Total net assets
1,943,299
All funds in the current and previous year are unre51ricled.
13 Related party transactions
There were no related party transactions in the year.
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