REGISTERED CHARITY NUMBER: 1160334 REPORT OF THE TRUSTEES AND AUDifED FINANCIAL STATEmEr5 FOR THE YEAR ENDeD S APRIL 2025 FOR THE EDWARD CADBURY CHARITABLE TRUST J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
THE EOWARD CADBURY CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Page Report ol the Trustee$ Report ofthe Independent Audltors 9 to 11 Statement of Flnancial Artlvltles 12 Balance Sheet 13 Cash Flow Statement 14 Notes to the Financlal Statements 15 to 35
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 The trustees present their report with the linanclal statement5 of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and Reporhng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporknng Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20191. OBJEcfivES AND AcfiviTIES Objertives and airns Pur oses and aims The charity is set up for general charitable purposes and is solely a grant giving body. Ensurin r work delivers our We review our aims. objectives and activities each year. This review looks at what we achieved and the outcome5 of our work In the prevlous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aim, objectives and activifjes remained focused on our stated purpose5. We have referred to the guldance contained in the Charlty Commission's general guldance on publlc benefit when reviewlng our alms and objectives and in planning our future activities. In particular, the trustees consider how planned otttvlt(es will contribute to the aims and objectlves they have set. The focus of our work The focus of our work continues to be that of a charity set up for general charitable purposes acting solely as a grant giving body. Grantmaklng strategyi pollcy and procedures The trustees believe that their mission today is as relevant as It was when Edward Cadbury flrst identified the need to support the local community in the early decades of the twentieth century. Edward Cadbury's parttcular interest in educatlon, religion and soclal welfare, together wlth the Quaker values of slmplicity, equality. justice, peace and care of rhe environment, have helped shape the 8rantmakin8 policy of the charity. The interests of the founder and the trustee body therefore particularly focus on Supporting the voluntary sector in the Midlands region including Hereford5hire. Shropshire, Staffordshire. Warwickshire and Worcestershire with the main areas of grant giving encompassing education and trainin& community development. support for the oppressed and disadvantaged. the arts and the environment. The grant giving programme fotuses on those interests by using Six moin headings which the trustees believe 5ensiblv reflect the objects of the charity and comply with the definition of charitable purposes a5 set out in the 2011 charities Act. Arts and Culture the advancement of the Arts, Culture, Heritage or Science). Communit Pro ects and Int ration Ithe advancement of Citizenship or Community Development). om assionate Su ort (the relief of those in need by reason of Youth. Age, 111-health, Disability. Financial Hardship or other disadvantage). Page I
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 OBJECTIVES AND ACTIVITIES- continued Grantmakin8 Strate8y* pollcy and procedure5- conttnued Conservation and Environment Ithe advancement of Environmental Protection or Improvement). Educati n and Trainin (the advancement of Education). Research Ithe advancement of Health or the Saving of Lives), The charlty only makes grants to registered charities and not to individual5. An appllcatlon for funding may be made at any tfme and should be submitted vla the on-line applicatton system at www.edward trust.or .uk or by email or post to the trust manager. The trustees request that the application should provide a clear and concise descripfjon of the project for which the fundin8 is required as well as the outcomes and benefits that It is intended to achieve. They also require an outline budget and explanation of how the prolect 55 to be funded Inlt(ally and in the future together with the latest annual report and accounts for the charlty. Applicatlons for funding are generally considered within a three month tlme5cale. 8efore awarding a grant, the trustees assess applications against the charlty's objectives and the Charity Commission's public benefit guidelines to check that public benelit crlteria are met. The charity usually make5 grant5 which vary in Size between £3,000 and £25,000. These are normally awarded on a one-off basis for a specific purpose of part of a project. Larger grants are occaslonally made on an exceptional basis where the purpose Is pardcularly apposSte to the charity's interests. The 8rantmaklng pollcy and procedures are reviewed by the trustees on an annual basi5. Publlc beneflt The trustees confirm that they have referred to the Charity Commission's general 8uidance on public benefit in reviewing the charity's aims and objective5 and have taken due regard of its content in confirming its grantrnaking strategy for the year ahead. Grant applications are also assessed for public benefit criteria. Page 2
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 ACHIEVEMENT AND PERFORMANCE Charltable aciivities Grant During the year ended 5 April 2025 266 grant5 have been made totalling £1,510,640 compared to 206 grants totalling £828.420 for the year ended 5 April 2024. The main beneflciaries from the charity's 2024-2025 grant givin8 programme were the PLsblic. generally through the support of museums, theatres, art centres and other cultural venues and projetts IArts and Culturel,. sections of the public through community group5 in both inner-city and rural areas (Community Projects and Integrationl,. provision of services for those in crisis or in need (Compassionate Support); conservation projects to protect buildings and develop facilities as well as raising awareness about environmental issues Iconservation and Environment}- educational opportunities for young people of all abilities, outreach work and skills training (Education and Training),. and funding for medical research (Research). By focusing their grant giwng wlthin these areas the trustees believe that their strategic priorities have been achieved, Larger awards In the 2024-2025 financlal year have included the following. A grant of £400,000 was awarded to the Barber Insfjtute of Fine Arts, located at the University of Birmingharn campus, towards o capStal development project to improve and refurbish the bvilding. A grant of £20,000 was awarded to Castel Froma Neuro Care, an organi5ation providing people- centred specialist care for individuals with neurological conditions based in Warwickshire. towards the cost of purchasing pressure surface mattresses. A grant of £50,000 wa5 awarded to the National Star College to extend the education and therapies provision at the Eveson Centre, Hereford. A grant of £20,OCK) was awarded to SENSE to 5UPPOrt the expansion project at the SENSE Touch8ase Pears Centre In Selly Oak. Birmlngham. WhSle the summary above has focused Dn the larger grants made this year, many smaller grants which are equally as beneflcial to the charitles concerned, notwithstandin8 the size of the or8anisation or the scale of the project, have also been made. FINANCIAL REVIEW Flnanclal posltion As at 5 April 2025 the charity'5 net assets stood at £52,306,640 compared to £54,396,306 a5 at 5 April 2024. During the reporhng period the charitv's investment portfolio, managed by Quilter Cheviot on a discretionary basis, generated an income of £1,508,57612024: £1,395,431) and outperformed the dividend income target as set out in the charity'5 Statement of investment policy. The charity's holding in the Charities Property Fund ICPFI was valued at £1,257,94612024: £1,230,899} with income payments totalllng £59,27812024: £80,523). The trustees reconfirmed their ethical investment polity as part of their annual review of policies and procedures. further screening analysis of the charity'5 investment portfolio by Quilter Cheviot took place during the year ended 5 Aprll 2025. Poge 3
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 FINANCIAL REVIEW Investment pollcy and objectives Investments are made taking a long term view, using a range of investment vehicles to achieve Stability and growth within a well diversified portfolio. The guiding principle of the trustees, investment policy is to seek to maintain, in the long term, a balanced portfolio without undue overall risk that aims for both income and capital growth in real terms. The trustees seek to ensure that the charity's investments are consistent with the purposes and values of the charity. The trustees aim to avoid directly investing in companies whose maln business Is In tobacco, armaments, gamblin8 or alcohol. There 15 a stated preference to invest in those cornpanies that make a positive contrlbution to the environment and the comrrunity and which evidence corporate social responsibllltv. Reserves policv Unrestrlcted reserves at 5 Aprll 2025 amounted to £52,306,64012024: £54,396,3061. It Is the trustees, pollcy to distribute the Income from its Investments to fund Its grantmaking programme whilst maintaining a sufficlent level of funds to ensure the lon8evlty of the charity. While the trustees conslder it prudent to retain sufficient reserves to cover Its operadonal costs they have the power under the charity'5 Constitution to uti115e both income and capital for charitable purposes at their discretion and therefore do not consider It necessary to maSntain any further reserves. FUTURE PLANS Fln nce and investmen Looking ahead to 2025-2026, ongoin8 volatility in the financial markets is anticipated. The charity'5 di5cretionarv investment managers, Quilter Cheviot, have advised that they will continue to respond accordingly but encourage investors to keep to their long-term financial and investment plans, In determining the investment objectives forthe financial year 2025-2026 the trustee5 have agreed wSth Quilter Chevlot that the Investment benchmark of a total return exceeding the MSCI PIMFA Private Investor Balanced index will be retained. ront ivin In terms of the grant giving programme, the charity's main aims and objecrives in the forthcoming year are to build on and enhance the successful programme of grant giving undertaken during the year ended 5 April 2025 and to continue to support charities, principally within the Midlands re8ion, which encourage community development, empowerment of the Indlvldual and inclusiveness, provide compasslonate support to those in need and promote educational, cultural and envlronmental projects. The formal outcome report form provides the trustees with helpful feedback for evaluatton and has positively highlighted the straightforwardness of the charity's application process. This monitorin8 form will therefore continue to be issued to grantees. Risk a The trustees will maintain the ongoing risk analysis pro8ramme which pays parkncular attention to economic conditions, including market volatility and inflation, and any change5 in le8i51ation that affect the operation of the charity. Page 4
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR TrIE YEAR ENDED S APRIL 2025 STRuURE, GOVERNANCE AND MANAGEMENT Governlng document The Edward Cadbury Charitable Trust lincorporatedl was set up on 27 June 1945 under a Declaration of Trust Isub5equently amended by a Chority Commission Scheme dated 17 December 19901 and converted to a Charitable Incorporated Organisation ICIOI on 4 February 2015. The assets of the Edward Cadbury Charitable Trust (incorporated) transferred to the new CIO with effect from and including 6 April 2015. The original charity (registered charity number 2273841 was removed from the register of charitie5 on 14 September 2015 and entered into the register of mergers. The Edward Cadbury Charitable Trust operates under a Constitution and is an expendable fund. Retruitment and appolntment of new trustees Under the terms of the Constitution not more than ten or less than three trustees are required to serve. The overall balance of skills of the exisUng trustee body is taken Into conslderation when looklng to appoint new trustees to ensure that a wlde ran8e of interests and professional experttse Is available, A potential new trustee is invited to attend at least two meetln8s of trustees an an observer. This initiates a two-way process enabling both the observer and the existing trustees to learn more about each other before any appolntment is formalised. Background Information is provided to the nominee at thi5 stage and includes biographical information about Edward Cadbury, a copy of the Constitution, a copy of the latest annual report and accounts, minutes of the prevlous two trustees, meetlngs and a copy of the grantmaking policy and application guidelines together with a copy of the Charitv Commission's publication "The Essential Trustee" All trustees give thelr Jme voluntarily and recelve no beneflts from the charity. Any expenses reclaimed from the charlty are set out In the notes to the financlal statements. Page 5
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational strurture The trustees are collectively responsible for the strategy and good 8overnance of the charity and norrnally meet on a quarterly basis. The trustees delegate the management and day-to-day operation of the charity, within set policies, to the trust manager. The chair of the trustee body and the trust manager communicate on a regular basls regarding charity matter5. During the year ended 5 April 2025 four full meeting5 of trustees have taken place. Trustees are kept informed between formal meetings on relevant matters of Snterest including an analysis of grant5 given, applications received, changes to charity law and financial and investment activitv. The trustees delegate the mana8ement of the charity's Investment portfolio to Quilter Cheviot on a discretionary management basis wlthin the terms of a written investment brief. Following an investment management year end review the trustees have agreed to conttnue this arrangement for 2025-2026. anshl tr Prior to l January 2023 an arrangement was in place for a three year term of office. Under this rolllng agreement Dr W J E Southall was appointed chair on l January 2020 in succession to Mr R H S Marriott. The trustees subsequentlv decided terms of office would in future be on a 2-year rolling ba515 Wlth effect frorn l January 2023 until further notice. On l January 2025 Mr R H S Marriott was appointed chair in succession to Mr N R Cadbury. Induction and training of new trustees Any training needs are identified and arran8ements made on an individual basis once an appointment ha5 been made. Key management remuneration In the trustee5' opinion, the key management personnel of the charlty responsible for the dlrection, control, runnln8 and operation of the charSty on a day to day basis consists of the trustee body and the trust manager. Ke mana ement rs nnel - trustees All trustees give of their time freely and no trustee received remuneratton during the year. Details of trustees, expense5 and any related party transactions are disclosed in note5 9 and 16 to the financial statements. Ke nt rsonnel trus mana er The pay of the charity's Senior staff is reviewed annually and incorporates a cost of living increase in line with the RPI index. mana em Rlsk management The trustees take a proactive approach to risk management and review and monitor financial and operational risks at each meeting of the trustees through the use of a risk analysis matrix. The trustees are satisfied that appropriate measures and effective systems are in place to mitigate those risks. Fundrai5in8 The charity did not engage in any fundraising activities involving third parhes and member5 of the public to generate charitable income during the years ended 5 Aprll 2025 and 5 April 2024. The majority of the charity'5 income continue5 to be derived from the chority's investment portfolio. Page 6
THE EOWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 REFERENCE AND ADMINISTrATIVE DEfAILS Reglstered Charity number 1160334 Principal address Woodbrooke 1046 Bristol Road 8irmin8ham 829 6U Trustees Mr R.H.S Marriott Mrs H.S. Banks Mr N.R. Cadbury Mr W.B. Cadbury Mr C.R. Glllett Mr A.S. Littlebov Dr W.J.E. Southall Chair Trust manager Miss S. Anderson Audltors JW Hinks LLP Chartered Accountants and Statutory Auditors 19 Hi8hfield Road Edgbaston Blrmingham 815 3BH Bankers Lloyds Bank plc 25 High Street Harborne Birmingham B179NP CCLA Fund Managers Limited One Angel Lane London EC4R 3AB Investment advlsers Quilter Cheviot Limited Two Snowhill Birmingham B4 6GA Savills Investment Management (UK) Ltd 33 Margaret Street London WIG OJD Page 7
THE EDWARD CADBURY CHARITABLE TRUST REPORT OF THE TRUSTEES Foft THE YEAR ENDED S APRIL 20Z5 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financlal statements in actordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice) including Financial Reporhng Standard 102 "The Financial Reporhng Standard applicable in the UK and Republic of Ireland" The law appllcable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provislons of the trust deed requires the trustees to prepare financial statements for each financlal year which give a true and fair vlew of the state of affairs of the charity and of the incoming resources and application of resources, including the Income and expenditure, of the charity for that perlod. In preparing those financial statements, the trustees are required to select sultable accounting policies and then apply them conslstently,, observe the methods and principles In the Charity SORP,. rnake judgements and estimates thot are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the 8oin8 concern basls unless it Is Inappropriate to presume that the charlty will continue in bu5ine55. The trustee5 are responsible for keeping proper accounting records which discI05e with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charity (Accounts and Reportsl 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 irregularitfes. Approved by order of the board of trustees on 8 July 2025 and signed on its behalf bv.. Mr R H S Marriott- Trustee Pa8e 8
REPORT OF THE INDEPENDENT AUDITORS TO THETRUSTEES OF THE EOWARD CADBURY CHARITABLE TRUST Oplnion We have audited the financial statements of The Edward Cadbury Charitable Trust (the 'charity'l for the year ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance sheet, the Cash Flow Statement and notes to the financial statements, including a Summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United KingdDm Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice), includlng Flnancial Reporbng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financlal statements: give a true and fair view of the state of the charlty's affairs as at S April 2025 and of its incoming resources and application of resources. for the year then ended; have been properly prepared In accordance wlth United Kingdom Generally Accepted Accounting Practice, includlng Financlal Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, and have been prepared in accordance with the requirements of the Charlttes Act 2011. Basls for oplnlon We conducted our audit in accordance wlth International Standards on Audlting IUKI IISAS IU Kll and applicable law. Our responsibilitfes under those Standards are further descrSbed In the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethlcal requlrements that are relevant to our audit of the flnancial statements in the UK, including the FRC'5 Ethical Standard. and we have fulfilled our other ethlcal re5ponsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtained Is sufflclent and appropriate to provide a basis for our opinlon. Conclu51ons relatln8 to Kolng concern In auditing the financial staternents, we have concluded that the trustees, use of the going concern basis of occounting In the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identffled any material uncertaintie5 relating to events or conditions that, individually or collectively, may cast signiticont doubt on the charity's ability to continue as a going concern for period of at least twelve months from when the flnanclal statements are authorised for issue. Our responsibillties and the re5ponsiblllfjes of the trustees wlth respect to golng concern are descrlbed in the relevant secttons of this report, Other Inforniatlon The trustees are responslble for the other information. The other informafjon comprises the Information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so. consider whether the other information is materially incon515tent with the financlal statements or our knowledge obtained in the audit or otherwise appear5 to be materially misstated. If we identifv such material inconsistencies or apparent material misstaternents, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, b35ed on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE EDWARD CADBURY CHARITABLE TRUST Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities IAccounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material respect with the financial Statements,. or sufficient accounting records have not been kept,. or the financial Statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responslbllitles of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responslble for the preparation of the financial statements which sive a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of ftnanclal statements that are free from material misstatement, whether due to fraud or error. In preparing the financSal statements, the trustees are responsible for assesslng the charlty's ability to conttnue as golng concern, disclosin& as applicable, matters related to goin8 concern and using the going concern ba515 of accounting unless the trustees either intend to liquidate the charity or to cease operattons. or have no realistic alternative but to do so. Our re5ponsibilltles for the audit of the financlal statements We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulation5 rnade or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 155ue a Report of the Independent Audltors that includes our opinion. Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularlties, includlng fraud Is detailed below: enquiring with rnanagement and others to galn an understanding of the or8anisatlon itself includSng operations, financial reporhng and known fraud or error,. evaluating and understanding the internal control system; performing analytical'procedures as expected or unexpected variances in account balances or classes of transacttons appear,. te5tfng documentation supporting account balances or classes of transactSons,' and confirming account5 receivable and other accounts with a third party. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularittes. includin8 those leading to a material mi5Statement in the financial statement5 or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. a5 we will be le55 likely to become aware of instances of non-compliance. The risk 15 a150 greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion, omi55ion or misrepresentation. Afurther description of our responsibilities for the audlt of the financial statements is located on the Financial Reporting Council's website at www.frc.or8.uvauditorsrespon5ibilities. This description forms part of our Report of the Independent Auditor5. Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE EDWARD CADBURY CHARITABLE TRUST Use of our report This report is made solely to the charity's trustees, as a body. in occordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit work, for this report. or for the opinions we have formed. J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Hi8hfveld Road Edgbaston Blrmingham B15 38H Date: 8 July 2025 Page 11
THE EDWARD CAOBURY CHARITABLE TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR ThE YEAR ENDED 5 APRIL 2025 2025 Unrestricted fund 2024 Total funds Notes INCOME AND ENDOWMENTS FROM Investment Income Other income 1,644,908 1,519,162 16.LMJO Total 1,644.908 1,535,162 EXPENDITURE ON Raisin8 funds 188,359 174,655 Charitable actlvltles Grants payable Support C05t5 Governance costs 1.510,640 108,678 5.41JO 828,420 85,174 4,920 Total 1.813,077 1,093,169 Net gainslllos5e51 on investments {1,921,497) 3,771,578 NET INCOME/{EXPENDITUREI 12.089,666) 4,213,571 RECONCILIATION OF FUNDS Total funds brought fonvard 54,396,306 50,182,735 TOTAL FUNDS CARRIED FORWARD 52,306,640 54,396,306 The notes form part of these financial statements Page 12
THE EDWARD CADBURY CHARITABLE TRUST BALANCÉ SHEEr S APRIL 2025 2025 Unrestricted fund 2024 Total funds Notes FIXED ASSETS Investment5 12 50,387,054 52,495,367 CURRENT ASSETS Debtors Cash at bank 13 150,281 2,262.130 95,967 1,855,342 2,412,412 1,951,309 CREDITORS Amount5 falling due wlthin one year 14 1492,8Z61 150.3701 CURRENT ASSErs 1,919,586 1.900,939 TOTAL ASSETS LE55 CURRENT LIABILITIE5 52,306,640 54,396,306 NEf AsSs 52.306,640 54,396,306 FUNDS Unrestricted fund5 15 52,306,64Q 54,396,306 TOTAL FUNDS 52,306,640 54,396,306 The financial stotements were approved by the Board of Trustees and authorised for Issue on 8 July 2025 and were 518ned on Its behalf by: MrR Marriott - Trustee The note5 form part of these financial 5tatement5 Page 13
THE EDWARD CADBURY CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 1015 2025 2024 Note5 Cash flows from operatlng actlvltles Cash generated from operations 17 11,424,936) 11.031,0251 Net cash used in operating activities {1,424,936) 11.031,0251 Cash flows from Investlni actlvittes Purchase of fixed asset investments Sale of fixed asset Investments Interest received Dividend5 recelved 17,618,538) 7,781,445 77,054 1,567,854 17,145,848) 7,741,153 43,208 1.475,954 Net cash provlded by investtng acdvlttes 1,807.815 2,114,467 Change In cash and cash equlvalents In the reportin8 period Cash and cash equlvalents at the be8lnnin8 of the reportlng perlod 382,879 1,083,442 2.328,965 1,245,523 Cash and cash equlvalents at the end of the reportlng perlod 2,711,844 2,328,965 The notes form part of these financiol statements Page 14
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ACCOUNTING POUCIES GENERAL INFORMATION AND BASIS OF PREPARING THE FINANCIAL STATEMENTS General information The Edward Cadbury Charitable Trust is a charitable incorporated organisation ICIOI registered with the Charity Commission in England and Wales. The address of the charity'5 re81Stered office and principal place of busine55 is located at Woodbrooke, 1046 Bristol Road, Selly Oak, Birmingham, B29 6U. Accouniln8 conventlon The financial statements of the charity, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "Accounting and Reporhng by Charities: Statement of Recommended Practite applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (effective l January 20191" Financial Reporting Standard 102 'Yhe Financial Reporhng Standard appllcable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared uslng the hlstoric cost convention as modified by the revaluation of Investments and are presented in sterllng which Is the functional currency of the charity* rounded to the nearest £1. The significant accountlng pollcles applied in the preparation of these financlal statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. INCOME All income 15 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it Is probable that the income will be received and the amount can be me05ured reliably. Investment Income 15 earned through holding a55et5 for Investment purposes such as quoted investments. Includes dividends and interest receivable. Income from quoted investments Is recognised on an accruals basis at the time a dlvldend Is declared and the quoted investment become ex.divldend. Income from bank dep051ts Is accounted for on an accruals basis. EXPENDITURE All expenditure is accounted for on an accruals basis and ha5 been classified under headings that aggregate all cost5 related to the category. Expendlture is recogni5ed where there is a legal or constructive obligation to make payments to third parknes. it Is probable that the settlement will be required and the amount of the obligatioll can be measured reliablv. It is categorised under the following headings. Costs of raising funds. Expenditure on charitable activities. Support costs are those that assist with the work of the charity but do not directly represent charitable activities and include office costs, governance costs and other administrative costs. Grants payable to third parties are within the charity'5 charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant as this gives rise to a reasonable expectation that the recipient will receive the grant. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. Page 15 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTESTO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025 ACCOUNTING POLICIES- continued TAXATION The charity is exempt f rom tax on its charltable activities. INVESTMENTS Investment assets whlch malnly comprise investments quoted on reco8nised stock exchanges are included at market value at the balance sheet date. Reallsed galns and losses on Investment disposals are computed by comparlng net sale proceeds with thelr carrying value at the previous balance sheet date or cost If acquired durin8 the period under review. Unrealised gains and losse5 on investments represent the difference between their carrying value and thelr mld- market value at the balance sheet date. CASH AND CASH EQUIVALENTS Cash and cash equivalents Include deposits held at call wlth banks and other thlrd parties. OPERATING LEASES Renta15 payable under operating leases are charged against income on a 5troight line basis over the period of the lease. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS Contribvtions to the personal pension schemes of certain employees are charged to the Statement of Financial Activities in the period in which they relate. The as5et5 of these personal pension schemes are held separatelv from those of the charity in irbdependently administered funds. EMPLOYEE BENEFITS When employees have rendered 5ervSce to the charity, short-term employee benefit5 to which the employees are entitled are recognised at the undlscounted amount expected to be paid in exchange for that service. The cost of any unused hollday erbtitlement 55 recognised in the period In which the employee's service5 are received. Terrnination benelits are recogni5ed immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termlnation benefits. FINANCIAL INSTRUMENTS The charity only has financial assets and Ilabilities of a kind that quallfy as basic financial instruments, Basic flnancial instrument5 are initially recognised at transact(on value and subsequently measured at amortised cost. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objective5 at the discretion of the trustees. Restricted fund5 can only be used for particular restricted purposes Wlthin the objects of the charity. Restriction5 arise when specified by the donor or when fund5 ore raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the note5 to the financial statement5. Page 16 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED S APRIL 2025 ACCOUNTING POUCIES- continued GOING CONCERN The trustees believe that it rernains appropriate for the financial statement5 to be prepared on a going concern basi5 as the trustees believe that no material uncertaintie5 exist. The expected level of income and expenditure 15 5uflicient with the level of reserves for the charity to be able to continue as a golng concern. The financial statements do not include any adjustments which would result from the basis of preparation being Inappropriate. FOREIGN EXCHANGE Transactions in currencies other than pounds sterllng are recorded at the rates of exchange prevailing at the dates of transactions. At each reporting end date monetary assets and liabllities that are denomlnated in foreign currencies are retranslated at the rates prevailing on the reporhng end date. Gains and losses arisin8 on translation in the period are included in income and expenditure. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURces OF ESTIMATION UNCERTAINTY In the appllcatton of the charity's accounttng policies, the trustees are required to make jud8ements, estfmates and as5umpttons about the carrylng amount of assets and liabilities that are not readlly apparent from other sources. The estimates and underlying a55urnptions are reviewed on an ongoing bosis. Revisions to accounting estimates are reco8nised in the period In which the estimate is revised where the revision affect5 only that period or in the perlod of the revision and future periods where the revision affect5 both current and future periods. INVESTMENT INCOME 2025 2024 Quoted investments- dlvldends Quoted investments- CPF Short temi cash deposlt Interest 1,508,576 59,278 77,054 1,395.431 80,523 43,208 1,644,908 1,519,162 OTHER INCOME 2025 2024 Exceptional items 16,(KiO Grant commltments Exceptional items totalling £16,000 for the year ended 5 April 202412023: £1.LKJOI consisted of grant payable commitments recognised as at 5 April 2023 which the charity was no longer committed to as at 5 April 2024. No such exceptional items have been recognised by the charity In respect of the year ended 5 April 2025. Page 17 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - cOnnUed FOR THE YEAR ENDED 5 APRIL 1025 RAISING FUNDS INVESTMENT MANAGEMENT COSTS 2025 2024 Investment managernent fees 188,359 174,655 CHARITABLE AcfiviTIES COSTS Grant funding of activities (see note Support costs (see note 81 Totals Grants payable Support costs Governance costs 1,510.640 1,510,640 108.678 5,400 108,678 5,400 1.510,640 114,078 1,624.718 GRANTS PAYABLE 2025 2024 Grant5 payable 1,510,640 828,420 Durlng the year ended 5 April 2025 the charity made the following grants in order to advance arts and culture, community projects and integration, compassionate support, conservation and the environment, education and tralning and research. Total grants payable to in5tUtionS durin8 the year were as follows. 2025 2024 Arts and Culture Armonico Consort Barber Institute British Glass Foundation Create (Arts) Ltd Escape Community Art in Action Frozen Light Grand Union Midland5 Arts Centre IMAC) Music Therapy Works Newvic Theatre, Newcastle under Lyme OHMI Trust Orchestra of the Swan Prince Henrys Evesham Art5 Ratby Co-operative Band Shropshire Boakfest 3,000 400,000 5,000 3,000 4.000 3.000 3,000 4,000 3.000 4,000 3,000 3,000 3.000 5,OOQ 3,000 Balance carried forward 430.000 19,000 Page 18 continued..
THE EOWARO CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE - continued 2025 2024 Bolance brought forward 430.000 19,000 Shropshire Incluslve Dance Soundabout Sudden Productions Plus 314 grants of le55 than £3,000 4,OlXI 3,000 3,000 4,000 5,000 mmunit Pro ects and In Ackers Adventure Adfam National Afro Innovation Groupi Lelcester Age UK Blrrnin8ham Albrighton Trust All Salnts Actlon Network, Wolverhampton All Salnt5 Church, Alrewa5 All Salnts Church, Trysul Allens Cross Anchor Youth Azad Kashmir Welfare Barrow Hill Community Trust Base Sl Base 25 1st Malvern Scout Group Beacon Church, Watergate Becomlng Families, Worcester Bentley Volunteers Bid Sernlces Bilston Resource Centre Birniingham Children's Cornmunity Venture Birmingham Diaabllity Resource Centre Black Country Net Bournvllle Village frust (Money Advice Hub) British Olsabled Angling Association 8roseley Group of Churches, All 5alnts Buildwa5 Holy Trinlty Church Cannon Street aaptist Church Charlie Fogarty Foundation Chetton and D15trict Parish Hall Church Pastoral Aid Society ICPASI Chuch Stretton URC CoachBright Charitable Trust Community Resource Coventry Boys and Gilrs Club Dad5 Lane Community Deafworld Debate Mate ration 4,000 4,000 5,000 4,000 3,000 3,000 3,000 3,000 10,000 4,000 3,000 4.000 4,000 4,000 3,000 10,000 3,000 5,000 3,000 4,000 5,000 3.000 3,000 10,000 3,000 5,000 3,000 4,000 3,000 3,000 5,000 3,000 4,000 4,0(X) 3,000 3,000 3.000 6,000 Balance carried forward 550,000 77,000 Page 19 continued.
ThE EDWARD CAOBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE- continued 2025 2024 Balance brought forward 550,000 77,000 Derby City Misslon Derbyshire Community Healthcare Edwards Marsh Centre Elayos Freedom Community Project Friends of Spencer Park Glngerbread Centre, Stoke-on-Trent Gir15 Friendly Soclety Good Gym Harbury Village Library Helplng Hands Cornmunlty Project Holt Village Hall Home-start Birmingham North-west Home-start Newcastle Home-5tart Tameside Home-start Walsall Hope Community Church James Lloyd Almshouses Kidderminster Baptist Church King's Community Church Project Lane5field Method15t Church, Wolverhampton Leamington Hastings Parish Hall Light House Coventry Listenlng Books Manna House, Tamworth Manor Court Baptist Church, Nuneaton Martineau Garden5 Middleton Hall Trust NAYC Whitemoor Lakes Newbigln Community Trust Northfield Community Partnershlp Norton Hall Children & Family Centre Oasis Church IBirminghaml Odell Trust, Kidderminster Over the Wall Camp PCC of St Nicholas Church, Dormston PCC of St Mary & St John, Rothley Perdiswell Young People's Lelsure Plungar Parish Potters House Church Erdington Priory Community A550ciation Pri50n Fellowshlp Quaker Social Action Quinborne Community A55ociation 5,000 3,000 4.000 3,000 3,000 5,000 5,000 4,000 5.000 5,000 3,000 5,000 3,000 3,000 3,000 3,000 5,000 10,000 3,000 3,000 5,000 2,000 3,000 3.0110 4,000 3.000 5,000 5,000 4,000 5.000 3.000 4,000 4,000 8,000 5,000 3.000 3,500 3,000 4,000 7,000 3,000 3,000 3,000 Balance carried forward 661,500 143.000 Page 20 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMÉNTS - contlnued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE- continued 2025 2024 Balance brought forward 661,51XI 143,000 Redeemer Church Birmingham Saathi House Sandwell Advocacy Sandwell Churches Link Sandwell Homeless and Resettlement Project Shrewsbury Food Hub Smethwick Church Action Network Sollcitors Pro Bono Group Solihull & District Hebrew Congregation Sophie Hayes Foundation Sport 4 Life UK St Andrew's Church, Staffordshlre St Andrew's Church, Westland5. Staffordshire St Ann's Community Orchard St Clement's Church.Worcester St Editha's Church. Tamworth St Giles RC Church, Cheadle Stjames Church. Styvechale, Coventry St James the Great Church, Staffordshire St Joseph's, Upton St John the Baptist RC Church, Alton St Marttn's Village Hall St Mary's Church, Ross-on-wye St 05wald Asbourne PCC St Peter's Hillfields, Coventry St Peter's Church, Wellesbourne St Rlchard's Castle STAA Steep Turnpike Church, Matlock Stratford on Avon Narrowboat Trust Tastelife UK Telford Gurdwara Sevadaars (Volunteer51 The Lighthouse Christian Care Ministry Thrive TOCH Upbeat Communlties Urban Development Foundation Volunteering Matters Walk Ministrles West Chadsmoor Family Centre Whittington PCC on behalf of St Giles Wigmore Vlllage Community Centre Without Walls Christian Fellowship Lelcester Worcestershire YMGq 4,000 5,000 3,000 3,000 4,000 4,000 3,000 4,000 5,000 4,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 4,000 5,000 3,000 5,000 3,OlXI 3,000 3,000 3,000 3.000 5,000 3,000 3,000 4,000 5.000 3.000 3.000 3,000 3,000 Balance carried forward 751,500 214,000 Page 21 continued..-
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED S APRIL 2025 GRANTS PAYABLE- continued 2025 2025 Balance brought forward 751.5110 214,000 Workin8 Act(vley to Change Hillfields Yardley Great Trust Group YMCA Black Country Group YMCA Heart of England Plus 9119 grants of le55 than £3,000 5,000 4.000 3,000 9.400 38,620 Conservatton and Environment All Saints Church, Sandon Birmingharn Conservation Trust Blrmingham & 81ack Country WSldllfe Trust 8ournville Village Trust (Selly Manor Museum) 8ournvllle Village Trust (Lightmoor Squatters Cottages) Cathedral Church St Mary/St Chad, Lichfield Cleanup UK Clean Rlver5 Trust Delapre Abbey Preservation Trust Frlends of Westonbirt Arboretum Frlends Church of St John Baptist, Bromsgrove Future Trees Trust Good Soil Trust Great Malvern Priory Hartlebury Castle Preservatton Trust Herefordshire Wildlife Trust Oak Tree Farm Rural Project, Stone Shropshire Wlldllfe Trust St Paul's Church 'Ralse the Roof" Appeal The Froglife Trust Plus 015 8rant5 of less than £3,1 3,000 5,000 4.000 3,000 3,000 3,000 5,000 3,000 3.000 3.000 5,000 3,000 5,000 6,000 5,000 5,000 15,000 4,000 9.400 om asslonate Su ort Acacia Family Support Action for Pulmonary Fibrosis AEDdonate Alice IRelief of Poverty) Anne Robson Trust ARCOS Aspie Aurum Autism Support Baby Godiva Bags of Blessings Nottingham 8arnardos Belong Maklng Justice Happen Birmingham Care Group Birmingham City Mission 3,000 3,000 5,000 3,000 5,000 3,000 5,000 3,000 4.000 4,000 3,000 3,000 10.000 4.000 4,000 4.000 8alance carried forward 866.900 329,020 Page 22 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE- eontiDued 2025 2024 Balance brought forward 866.900 329.020 Birmingham H05plce Birmingham Samarltans Brain Tumour Support British Heart Foundation Canaan Trust Care Workers Charlty Carers Trust Heart of England Castel Froma Neuro Care Cerebral Pa15y Mld-staffs Changing Faces Child Brain Injury Trust Chlldhood Eye Cancer Trust Chlldren's Heart Foundatlon Chris Westwood Charity for Children with Dlsablllttes Coventry Boy5 and Girls Club Coventry and Wèrwickshire MIND Cranstoun Crohn's and Colitis UK Cystic Fibro515 Trust Deafolind UK Dentaid Dog Assistance in Dlsabilitv Douglas Macmillan Staffordshire ECHO for Extra Choices In Herefordshire Edge Minlstries ERIC, Children's Bowel & Bladder Charity Evesham & District Mental Health Evie's Gift CIO Family Action Fight for Slght Food for All Gambling wlth Lives Gilgal Birmingham Go Beyond Hall Green Churches Child Care Headway North Staffordshire Hearing Dogs for Deaf People Hope's Children & Young Peoples Hope House Children's Hosplce Hope into Action.. Coventry Hospice Charity Partnershlp INSPIRE Foundation Katharine House H05pice Kicks Count 5,000 5,000 3,000 7,500 20,000 3,000 4,000 3,000 4,000 5,000 4,000 3,000 3,000 3,000 3,000 4,000 3,500 5,000 5,000 3,000 3.000 3,000 3,000 5,000 3,000 4,000 3,000 4,000 3,000 3.000 4,000 5,000 5,000 3,000 3.000 Balance carried forward I,OZZ,500 385,020 Page 23 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTESTOTHE FINANCIAL STATEMENTS- Continued FOR THE YEAR EhtDED 5 APRIL 2025 GRAt4TS PAYABLE - continued 2025 2024 Balance brought forward 1,022.500 385,020 Lord Leycester Hospital Lupus Macular Society Magg5 Day Centre Mary Stevens H05pice Multtple Sclerosis Society Muscular Dystrophy UK Myton Hospices National A550ciation for Speclal Educational Needs Nightlife Outreach NMC Midlands Imusclar Dystrophy Centrel North Staffordshire Carers Associadon Omega, National Assoclation for End of Life Care Options for Life Oracle Cancer Trust Orthopaedic Institute Ovacome Oxford Hospitals Charity Panahghar Pancreatic Cancer UK Peterborough Cathedral (Ukraine) Plasma of Hope Primr05e Hosplce Queen Alexandra Charltv Radford Care Group REAcf Disaster Response Re-engage Recovery Foundatton Relate Coventry and Warwickshire Rethink Mental Illness Safe Famllles Samaritans Blrmingham Samaritans Shrewsbury Samaritans Stoke on Trent and Newcastle Sensory People Severn Freewheelers EVS Shlrley Old People's Welfare (Elizabeth House) Sight L0555 Shropshire Spinal Muscular Atrophy Spinal Muscular Dystrophy St Basil'5 St George's House Charity St John Ambulance Stafford5hire Women's Aid 7,500 3,000 3,000 3,000 3,000 5,000 5,000 5,000 3,000 3,000 3,000 5.000 4,000 4,000 3,000 5,000 3,500 4,000 5,000 4,000 5,000 4,000 5.000 3,000 5,000 10,000 5,000 4,000 3,000 3,000 3,000 3.000 5,000 3,000 3,000 3,000 3,000 8,000 4,000 5.000 4,000 25,000 6.000 4,000 5,000 Balance carried forward 1,120,500 519,020 Page 24 continued...
THE EDWARD CAOBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED S APRIL 2025 GRANTS PAYABLE - conilnued 2025 2024 Balance brought forward 1,120,500 519,020 STAMMA Teenage Cancer Trust Telford Cri515 Support Tommys Tough Enough to Care Walsall Society for the Blind Worcester Samaritans World Cancer Research Fund Zoe's Place Plus 10119 grants of less than £3,000 3,000 5,000 3,000 3,000 5,OlXI 5,000 12,9(10 31,450 Education and Trainln Access Project Alternatives to Vlolence Anne Frank Trust UK Beaude5ert Trust Bournville Village Primary School Breaklng Barriers Breakthrough TID Cash for Kid5 Changes Tamworth Cllmbing Out Dyslexia Association of Staffordshire Farms for City Children Flrst Give Footprints Foundation for Conductive Education Frank Longford Charitable Trust Friendship Project for Children Gir15 Network Give a Book Green'5 Windmill Trust Heartstart Malvern Herefordshire Vennture Home Farm Trust House on the Corner Community Project Howley Grange Scout Groupfft Halesowen ITSA Digital Trust Jamie'5 Farm Jericho Foundation Kingswood Trust Kissing it Better Level Water Liveability 5,000 3.000 3,000 3,000 3,000 10,000 3,IXIO 3,000 4,000 4,000 5.000 5,000 7,500 3,000 5.000 3,000 10,000 3,000 3,000 5,000 5,000 5,000 5.000 4,740 3,000 Balance carried forward 1.245,640 615,470 Page 25 continued...
THE EDWAAO CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE - continued 2025 2024 Balance brought forward 1,245,640 615,470 Lunch on the Run Maclntyre Care Make Some Noise Malvern Special Families Malvern Unit 582 of the Sea Cadet5 Corps Medaille Trust Mentor Link Meriden Adventure Playground Association Mount Pleasant School Farm Museum of Carpets National Star College North 5methwick Development Trust Nothnghamshire County Scout Council Options for Life Over the Wall Own Books PCC St Peter and St Paul, Leominster Panathlon Foundation Peace Hub Prisoners, Education Trust QRBC Duke of Edinburgh Awards Resources for Autism Revive Healthy Living, Derbv Rising Stars Youn8 People'5 Services RJ Worklng CIO Royal National College for the Blind School of Artisan Food, Nottin8ham Schoolreaders CIO Schools Home Support Scout Assoclafjon - Leominster SENSE Simply Llmltless Sinfonia Vivo Derbv Square Peg Acttvittes Standing Tall Street Teams Sulted for success The Bike Project The Message Trust Trailblazer5 Mentoring Tutor5 United Univer51ty Education Victoria College Ltd Warning Zone 3,000 3,000 3,000 3,000 4,000 3,OlXI 3,000 3,000 3,000 4,000 50,000 3,000 3,000 4.000 3.000 5,000 3,000 5,000 3,000 4,000 3,000 3,000 4.000 3,000 4,700 5,000 3,000 4,000 3,000 20.000 3,000 3,000 3,000 3.000 5.OLIO 3,000 5,000 3,000 3,000 3,000 5,000 3,000 5,000 5,000 Balance carried forward 1,404.640 684,170 Page 26 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 5 APRIL 2025 GRANTS PAYABLE- ¢ontinued Z025 2024 Balance brought forward 1,404.640 684,170 Wildgoose Rural Training Worcestershire YMCA WyePlay Yeoman Park Acaderny, Nottfnghamshire You Can Flourish Youn8 Solutions Worcestershire Youn8 Sounds UK Yss Plus 512 grants of le55 than £3,000 8,000 4,000 3,000 3,000 4,000 5,000 3,000 5,000 3,500 10,000 Research Action Medlcal Research Aston Unlversity Medical School Bone Cancer Research Trust DE8RA International Splnal Research Trust Juvenile Diabetes Research Foundation Plus 0/1 6rant of less than £3,000 4,000 50,000 5,000 10,000 5,000 4,000 750 5,000 Other The Edward and Dorothy CadburyTrust Bournvllle Vlllage Trust (Well Wlnter Campal8nl Woodbrooke Bursaries 50,000 10,000 8.000 50,000 Total of 2661206 grants payable 1,510.640 828,420 SUPPORT COSTS Informatton technology Governance costs Mana8ement Finance Tota15 Support costs Governance costs 99.556 134 8,988 108,678 5,400 5,400 99,556 134 8.988 5,400 114.078 Page 27 continued.-.
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025 SUPPORTCOST5- continued During the year ended 5 Aprll 2024 the charity recharged an amount totalling £15,77512024'. £18.6001 to the Edward and Dorothy Cadbury Trust, a charity re815tered in England and Wales, for adminlstrative support Incurred by the Edward Cadbury Charitable Trust on behalf of the Edward and Dorothy Cadbury Trust. Support costs, included in the above, are as follows: MANAGEMENT 2025 Support costs 2024 Total actlvlties Wages Social securlty Penslons Rent Insurance Telephone Postage and stationery Legal and professlonal Sundrie5 Administration fee 73,857 3,937 6,449 13,688 7,364 1,130 2.541 2.838 3,527 {15,7751 64,484 6,449 6.419 6,975 1,014 1,229 1,365 118,600) 99,556 72,427 FINANCE 2025 Support costs 2024 Total activlties Bank char8es 134 122 INFORMATION TECHNOLOGY 2025 Support C05t5 2024 Total activities IT costs 8,988 12,625 Page 28 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTESTOTHE FINANCIAL STATEMENTS- Conned FOR THE YEAR ENDED 5 APRIL 2025 SUPPORT COSTS- contlnued GOVERNANCE COSTS 2025 Governance costs 2024 Total artivities Auditor5, remuneration Audltors, rernuneration for non audit work 4,620 780 4,200 720 5,400 4,920 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 5 Aprll 2025 nor for the year ended 5 April 2024. TrUSTEES' EXPENSES During the year ended S April 2025 trustees, expenses totalllng £75612024., £7381 were paid by the charity to total of 6 tru5tees12024'. 61 for travel and other reimbursable costs incurred on charity busine5S. io. STAFF COSTS 2025 2024 Wages and 5alarles Social security costs Other penslon costs 73,857 3,937 6,449 64,484 2,644 6,449 84,243 73,577 The average monthly number of employees during the year was as follows: 2025 2024 Management The number of employee5 whose annual remuneration was £60,000 or more was as follows. 2025 2024 £60,000- £70,000 £70,000 - £80,000 Page 29 continued...
THE EDWARD CAOBURY CHARITABLE TRusr NOTES TO ThE FINANCIAL STATEMENTS- conllnued Foft THE YEAR ENDED 5 APRIL 2025 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestrlcted fund INCOME AND ENDOWMENTS FROM Investment income Other income 1,519,162 16,(K)O Total 1,535,162 EXPENDITURE ON Raising funds 174.655 Charltable a¢tlvltles Grants payable Support costs Governance costs 828,420 85,174 4,920 Total 1,093,169 Net gains on investment5 3,771.578 NEf INCOMe 4,213,571 RECONCILIATION OF FUNDS Total funds brought forward 50,182,735 TOTAL FUNDS CARRIED FORWARD 54,396,306 Page 30 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 5 APRIL 2025 12. FIXED ASSET INVEsfMEKrs 2025 2024 Market value at 6 April 2024 Addlttons at C05t Sale proceeds on d15P05al Gain/l105sI in the year: reali5ed and unrealised 52.021.744 48.845,471 7.618,538 7,175,848 17,781,545) 17,741,153) 11,921.497) 3,771,578 49.937.340 449,714 52,021,744 473,623 Cash on deposit as at S April 2025 Market value at 5 April 2025 $0,387,054 52,495,367 Hlstorlc cost at 5 Aprll 2025 45.570,226 44,635,970 ANALYSIS OF INVESTMENTS 2025 2024 UK gilts UK quoted equitle5 Non-UK quoted equitie5 and bonds UK quoted bonds Cash 4,839,567 10,339,486 39,269,026 3,489,261 449,714 2.373,668 20,636,189 26,138,349 2,873,538 473,623 SO,387,054 52,495.367 No Indlvldual Investments In excess of 5% of the total portfollo value existed as at 5 Aprll 2025 and as at 5 Aprll 2024. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtor5 150.282 95,967 Other debtors con51st of ex-divldends declared but not yet received as at the balance sheet date. Page 31 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FIt4ANCIAL STATEMEt4TS - continued FOR THE YEAR ENDED 5 APRIL 2025 CREDITORS: Amoumfs FALUNG DUE WITHIN ONE YEAR 2025 2024 Other creditors 492,826 50,370 15. MOVEMENT IN FUNDS Net movement in funds At 5.4.25 At 6.4.24 Unrestrlcted funds General fund 54,396,306 12,089,666) 52306,640 TOTAL FUNDS 54,396,306 2,089,666) 52,306,640 Net movement in fund5, Included in the above are as follows: Incomln8 resource5 Resources expended Galns and losses Movement in funds Unrestflrted funds General fund 1.644,908 11,813,077) 11,921.497) 12,089.666) TOTAL FUNDS 1,644,908 11.813,0771 1,921,497) 12,089,666) Comparatlves for movement In funds Net movement in funds At 5.4.24 At 6.4.23 Unrestrlrted funds General fund 50,182,735 4,213,571 54,396,306 TOTAL FUNDS 50,182,735 4,213,571 54,396,306 Page 32 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2025 15. MOVEMENT IN FUNDS- Continued Comparatlve net movement In funds, included In the above are as follows: Incoming resources Resource5 expended Gains and losses Movement In funds Unrestrlcted funds General fund 1,535,162 11,093,169) 3,771,578 4,213,571 TOTAL FUNDS 1,535,162 1,093,169) 3,771,578 4,213,571 A current year 12 months and prlor year 12 months combined posltlon Is as follows: Net movement In funds At 5.4.25 At 6.4.23 Unrestrlcted funds General fund 50,182,735 2,123,905 52,306,640 TOTAL FUNDS 50,182,735 2,123,905 52,306.640 A current year 12 months and prioryear 12 months comblned net movement in funds, Included In the above are as follows: Galns and losses Incomlng resources Resources expended Movement in funds Unrestrkt•d funds General fund 3,180,070 12,906,246) 1,850,081 2,123,905 TOTAL FUNDS 3,180.070 12.906,2461 1,850,081 2,123,905 Purpose of Unrestrlcted Funds General und-Ex endable Endowment f nd Thls fund represents fund5 avallable to be expended at the dlscretion of the trustees in the furtherance of the objects of the charlty. Page 33 contlnued...
ThE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL2025 16. RELATED PARTY DISCLOSURE5 Key management remuneratlon In addltion to them5elve5 the trustees conslder the charity'5 key management personnel to also include the trust manager who ha5 responsibility for plannin8 and controlllng the actlvltles of the charity. The total compensatlon pald to key management personnel for servlces provlded to the charity durlng the year ended 5 Aprll 2025 was £73,85712024.' £64.484). The charity also made payments Into a money purchase pen51on scheme for the beneflt of Its employee durlng the year ended 5 April 2025 amounting to £6,44912024: £6,449}. Bournvllle Vllla8e Trust Mr N.R. Cadbury, a trustee of the Edward Cadbury Charltable Trust, also served as a trustee of the Bournvllle Village Trust, a charity reglstered in England and Wales, during the year ended 5 Aprll 2025 and whose term of office was completed in December 2024. The following transactlons occurred between the Edward Cadbury Charitable Trust and the Bournvllle Village Trust durln8 the year ended 5 April 2025. Gran During the year ended 5 Aprll 2024 the Edward Cadbury Charitable Trust awarded grants totallln8 £I3,l(2O24. £13,000) to the Bournville Vlllage Trust. offi eren During the year ended 5 Aprll 2025 the Edward Cadbury Charltable Trust paid office rent totalling £8,25312024: £nill to the Bournville Vlllage Trust. The Edward and Dorothy Cadbury Trust The trust manager of the Edward Cadbury Charltable Trust also serves as the trust manager and clerk ofthe Edward and Dorothy Cadbury Trust, a charity reglstered In England and Wales whlch shares simllar alms and objectives to those of the Edward Cadbury Charltable Trust. Durlng the year ended 5 Aprll 2025 Mrs J E Glllett contlnued to serve as a trustee of the Edward and Dorothy Cadbury Trust and her husband, Mr C R Glllett, contlnued to serve as a trustee of the Edward Cadbury Charitable Trust. Both charlties share slmllar aims and objectives. In addition, during the year ended S Aprll 2025 Mrs J A Cadbury continued to serve as a trustee of the Edward and Dorothy Cadbury Trust and her husband, Mr N R Cadbury. and son, Mr W B Cadbury, continued to serve as trustee5 of the Edward Cadbury Charltable Trust. The following transactions occurred between the Edward Cadbury Charltable Trust and the Edward and Dorothy Cadbury Trust during the year ended 5 April 2025. Grants able During the year ended 5 Aprll 2025 the Edward Cadbury Charltable Trust awarded a grant totalllng £S0,00012024: £50.0001 to the Edward and Dorothy Cadbury Trust. Page 34 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2025 16. RELATED PARTY DISCLOSURES. contlnued Administratlve su ort char Durlng the year ended S Aprll 2025 the charlty recharged an amount toLillin8 £15,77512024'. £18,600) to the Edward and Dorothy Cadbury Trust for admlnlstratlve support and other servlces incurred by the Edward Cadbury Charitable Trust on behalf ofthe Edward and Dorothy Cadbury Trust. 17. RECONCIUATION OF NET IEXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIE5 2025 2024 Net {expendlturelncorne for the reportln8 perlod (as per the Ststement of Flnandal A¢tlvltlesl Adjustments for: Losses/l8aln} on Investments Interest recelved Dlvldends recelved Ilncreasel/decrease In debtors Increase In credltors 12,089.666) 4,213,571 1,921,497 (77,054) 11,567.854) {54,315) 13,771,578) 143,2081 11,475,954) 44,274 1.870 Net cash used In operatlans 1,424,936) 11,031,025) ANALYSIS OF CHANGES IN NET FUNDS At 6.4,24 Cash flow At 5.4.Z5 Net cash Cash at bank 1855 342 406,788 2,262.130 1,855,34Z 406,788 2,262,130 Total 1,855.342 406.788 2,262 130 Page 35 continued...
THE EDWARD CADBURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2025 19. OPERATING LEASE COMMITMEKrs At 5 April 2025 the charity had outstanding commltments for future minimum lease payments under non-cancellable operating leases whlch fall due as follows. 2025 2024 Wlthln onè year Between two and flve years In more than flve years 9.000 30,000 39.01)0 Page 36