Office Copy ELISE PILKINGTON CHARITABLE TRUST (Charity Number: 1170847) ACCOUNTS FOR THE YEAR ENDED. 5TH APRIL 2024 DRAFT Rothbone Tsust Company Limlted
Rilklngton Charitable Trust Accounts for the year ended 5th Aprll 2024 Index Page Trustees, Annual Report Independent Examiner's Report statement of Financial Activities stafement of Financial Position 9-15 Notes to the Accounts (includlng Accounting Policies)
,glon Charitable Trust ts for the year ended 5th Aprll 2024 /iistees' Annual Report The Trustees have pleasure in submitting their Annual Report and Financial Statements for the year ended 5th April 2024. Legal and adminlstratlve detalls Registered No.. 1170847 Princlpal Address: Ridgecot, Lewes Road, Horsted'Keynes,'West Sussex, RH17 7DY Legal structur8: Charitable. Incorporated Organisation (CE009444) Trustees who served dur5ng the Miss C Gordon year and in post The Rev R l Merchant wh8n Report was Dr D Shipway approved.. Mrs R Tarry (Chairman) Mrs G Walpole Dr A Pyatt Dr R Trenaman Mr M Kerr Administrator: Mr K J Lawton Accounts and Tax: Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1 NW Independènt Examiner: Kerry Roberts clo Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Bankers: CAF Bank, 25 Kings Hill, West Malling. Kent ME19 4JQ ' Rathbones Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ Investment Management: Rathbones Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ Solicitors: Russell-Co9ke, 2 Putney Hill, London, SW15 6AB - by appointment in May 2016 Objoctlves and Activities of the Charity In accordance with the Charity's constitution, its objects for the public benefit are: 1 To prevent cruelty to equlne animals, to relieve suffering and distress amongst such equine aniTnals, to care for and protect such equine animals. including live horses being transported country to country'for butchery if such animals are in need of care and protection by reason of slckness, ma5treatment, poor circumstances or other similar causes. 2 To promote the relief of the elderly. 3 To furth6r such other excluslvaly charltable purposes according to the law of England ahd Wales as the Trustees In their absolute discretion from time to time determine. Page 1
(on Charitable Trust Jnls for the year ended 5th April 2024 iijstees, Annual Report To fulfil these objectives the Truste.es make grants, primarily to UK registered charities. preferably for capital projects or time-limited speclflc projects. Applications for funding are usually rejected for charities to whom a grant has been awarded to in the pr8ViOUS three years. The Trustees reviewed their grant maklng policles during the year and resolved to glve focussed pref.erence a. this time towards charities benefitting the elderly frail and equine welfare. The Trustees hold Unrestricted Funds and Expendable Endowment Funds and so all funds are available to meet the Charity's objectives. The Trustees do not usually undertake fundralsing activities: The Charity's Investments provide a relatively secure and prodictsble stream of income from which grants are made, and so investment management fees are the only costs of fundraislng incurred. The Trustees aim to dlstribute net income arising, together with around 40k expendable endowment (capital) each financial year. The Trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit requiremènt und8r the Charities Act 2011 when exercising any relevant powers or carrying out duties. Achievements and Performance During the year 21 grants (23 in 2023) were awarded in addition to grants pledged to Institutlons, as follows: Equine Welfare Elderly Frail 96,998 77,830 The Trustees are pleased to note the charity distributed net Unrestricted Income Funds received during the the year. In addition, a transfer of Expendable Endowment capital fund5 was made and donated. A full list of grants made during the year Is shown within the notes to these aGcounts. Financlal Review Income receivod totalled £66,894 (£71,635 2023) and £11,850 (£12,015 2023) was spent on Investm@nt management fees to raise the funds. Total expended on the Charity's Activities was £198.5701£177,430 - 2023) and net gains arose on the disposal and revaluation of investments in the sum of £216,230 (£300.120 net losses - 2023). resulting in a net increase in funds of £72,704 (decrease of £417,930 2023). Funds held as at 5th April 2024 totalled £2,816,276 (£2,743,572 - 2023) which represented Expendablg Endowment held primarily In Investments and capital cash (£2,735,115 2023). All income funds were spent during the year, together with and amount of funds transferred from Expendable Endowment that were donated (£8,457 - 2023). PayÈ2.
,//on Charltable Trust Is for the year ended 5th April 2024 rdstees, Annual Report Investments: The constitullon gives Trustees the power to delegate thelr powers or functions and If they. do, the Trustees must determine the terms and conditions on which the delegation is made. The Trustees have resolved to delegate their investment duties to Rathbones Investmenl Manag8ment, who have full discretionary day-to-day control of the investments. An Investment Policy Statèment has been prepared, which the Trustées- regularly review. The value Of the Trust's investmants as at 5th April 2024 totalled £2.803.717 (£2.681.906 - 2023). The Trustees are aware the investments have performed poorly during the year compared to the benchmarks, however, it is recognised Ihat income has increased during the last 5 year period and continues to increase at present compared to the prior year. The Trustees further recognise the long-term investment objectives. Th8 Trustees will'keep the position under review. Assets have been. acquired and dlsposed of In a¢cordance wSth the powers avallable to the Trustees durlng the accounting period. Reserves: The Trustees maintain free reserves in unrestricted funds sufficient to cover short-term running costs. All . funds are considered to be free reserves a5 they are expendable or unrestricted and.so avallable to further charity's purposes at the Trustees, dlscretlon. Th9 Trustees regularly review.the flnancial posltlon of the Charity and its resgrves, particularly when multi-year funding has been agreed. structure, governance and rnanagement Elise Pilkington Charitable Trust is a registered charity. Its governing body are the Trustees of a charitable incorporated organisatlon constituted on 19th DeGember 2016 and,registered with the Charity Commission in England arid Wales on 20th December 2016. The Elise Pilkington Charitable Trust (1170847) took over the work of a former unincorporated charity known as Mrs Pllkington's Charltable Trust (278332). 'All Trustees of the former charity were appointed Trustees of The Elise Pilkington Charitable Trust. All assets, Ilabilities and staff of the former charity were transferred to The Elise Pilklngton Charitable Trust by Deed of Transfer with an Effective Date of 28th February 2017. The members of the charitable incorporated organisation shall be its Trustees. The only persons eligible to bo m&mbers are Its Trustees. Membership cannot be transferred to anyone else. In accordance with the constilution, there must b8 at Seast three Trustees. If the number falls below thls. minlmum, the remaining Trustees may act only to call a meetlng of the Trustees or appolnt a new Trustee. E'very Trustee must be appointed for a tsrtn of three years by a resolution passed at a properly convpned meeting of the Trustees or in writing. In selecting individuals for appointment as Trustees, the Trustees have regard to the skills, knowledge and experience nBeded for the effeGtive administration of the charitab18 incorporated organisation. New Trustees are provided wlth a copy. of the constitution and the latest Trustees, Annual Report and Accounts. Formal training is not provided but all Trustees ensure they operate within Gurrent guidellnes as issued by the Charity Commission and adv.ised by .Rathbones Trust Company Limited. Issues arising are discussed during meetings. Paue 3
Charitable Trust lor the year ended 5th April 2024 518es'Annual Re ort . Each Trustee h8s an area of particular interest: Ruth T8rry- Chair of Trustee& wilh partlcular interest in equlno welf8re 9nd education Ravd. Robert Morchant- Trusfee with particular interest in elderly projects Claire Gordon - Trusteo wlth partlcular Interest in equlne welfare and ethology Dr Davld Shipway- Trustee wlth particularinterest In projects relaling to the glderly Gemma Walpole- Trustee wilh particularinlerest In equine welfare and the relief of sufferlng Mark Kerr- Trustae wth a speclal interest irl gquine welfare an'd equine/human InteraGtion DrAlison Pyatt- Trustee wifft particular Interest in pmjects relating to equine welfare and intemation81 d8velopmgnt Dr Racha81 Trenaman - Trustee with particular interests in both equine welfare and projecfs working with Ihe elderly The Trustees met twSce during the flnancial year to revlew performance, grant applic2tions, regulatory and reportlng réquiremenls and any other matters arising. All Trustees are expected to attend the .meetings and play an active role in the administratlon of the Charlty, Includlng researching possible donees and vlslting charities and attending events where applicable.. All meetlngs are mlnuted arid conflicts of interest registored at the start of each meeting. The Trustees adopted a Risk. and an Anti-Bribery Policy, following a rgview of the guidance. k Mana ement The Trustees have given consideration to the major risks to which the charity is exposed and are satisfled that Systems or procedures.have been established in order to manage those rlsks. After considering the areas of governance, operational. financial, environmental and compliance the Trustées have identlfied that major negative fluctuations in investment assets could cause a material risk.to the charity's funds. In order to mitigate this risk the Trustees have establlshed a Policy Statement to be adhered to by the Investment Manager, which Is r8viewed at least annually in line with investment performance. As the charlty has an employee, the charity has taken out insurance as is required by law. Plans for future perlods 'The Trustees are satisfied that th8. Charlty's asset5 and current policies are sufficient to meet Ihelr objectives and do not intend to amend these in th8 foreseeable future. Page 4
Charltable Trust for the year ended 5th April 2024 Stees'Annual Report statement of Trustees, responslbillties for the annual accounts The Trustees are responslble for preparing a Trustees, Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Acceptéd Accounting PraGtice). The law appllcable to charltles In England and Wa5es requlres the Trustees to prepare flnancial statements for each finaDciaS year w.hich give a tru& and.fair view of the state of affairs of the Charity and of the incoming resources and application of resouroes of the charity for that year. In preparing these financial staternents, the Trustees are required to.. seloct suitable accounting polic8s and then apply them consistently", observe the m8thods and principles in the Charities SORP (FRS 102)., make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards (FRS102) have been followed, subject to any materlal departures disclosed and explained in the financial statements. and prepare the financial statemants on the going GonGem basis unless It is inappropriate to presume that the Charlty will continue in operatlon. The Trusteés are responslble for keeping adequate accounting records that are sufficient to show and the Charity's transactlons and dlsclosé wlth reasonable accuracy at Any tlme the financlal positlon of the Charity and enab5e them to ensure the financial statements comply wilh the Charities'Act 2011, the Charity (Accounts and Reports) Regulatlons 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 irregularities. Declaration Agreed and slgned on behalf of the Board of Trustees on 10 £0 Mrs R Tarry (Chalrman) P3gB 5
Elise Pilkington Charitable Trust Accounts for the year ended 5th April 2024 Independent Examiner's Report Independent Examiner's report to the Trustees of Elise Pilkington Charitable Trust (1170847) I report on my examination of the accounts of the above named charity ("the Trust") for the year ended 5 April 2024, which are set out on pages 7 to 15. Responsibilltles of the Trustees and Independent Examiner As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")- You consider that an audit is not required under s144 of the Act and that an independent examination is needed. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the applicable Direclions given by the Charity Commission under section 145(5){b) of the Act. It is my responsibility to state whether particular matters have come to my attention. Basls of Independent Examlner's Report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with Ihose records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts resent a 'true and fair, view. The report is limited to those matters set out in the statement below. Independent Examiner's statement l am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council {FRC)- Rathbones Trust Company has provided bookkeeping services in accordance with the terms of engagement signed by the Trustees and I do not report fo the bookkeeper in any respect. I give due consideration to the FRC'S Revised Ethical Standard 2019 at all times. I have completed my examination and confirm that no matters have come to my attention which give me cause to believe that in any material respect.. the accounting records were not kept in accordance wilh section 130 of the Charities Act, or the accounts did not accord with the accounting records, or the accounts did not comply with applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this reporl in order for a proper understanding of the accounts to be reached. 24.10.2024 Kerry Roberts TEP FMAA T MCSI C/0 Port of Liverpool Building, Pier Head, Liverpool Date Page 6
Iwton Charltable Trust unls for the year ended 5th Aprll 2024 statement of financlal activlties Expendable Unrestricted Endowment Funds 2024 2024 Total Funds 2024 Total Funds 2023 Notes Income and endowments from: Investments Other 841 65,033 1,020 65,874 1,020 71.005 630 Total 841 66,053 66,B94 71,635 Expendlture on: Ralsing funds Charitable activities 11.850 .11,850 198,570 12,015 177,430 198,570 Total 11.850 198,570 210,420 189,445 Net Gains 1 (Losses) on investm8nts 216,230 216,230 (300,120) Net Income l (expenditure) 205,221 (132,517) 72,704 (417,930) Transfers beeen funds 16 (124,060) 124,060 Net movemont In Funds 81,161 (8,457) 72,704 (417,930) Reconclllation of funds Total Funds as at 6th April 2023 2,735,115 8,457 2,743,572 3,161,502 Total Funds as at 5th April 2024 2,816,276 0 2,816,276 2,743,572 The notes on pages 9 to 15 form part of these a¢¢ounts. Page 7
on Charltablè Trust ,/rtls lor thg year ended 5th April 2024 sialement of Financlal Posltion Sheet as at 5th Aprll 2024 Exp.endable Unrestrlcted Endowment Funds 2024 2024 Total .Fund5 2024 Total Funds 2023 Nolgs Flxed Assets. Investments 11 2,803,717 0 2.803.717 2,681,906 Total Fixed Assets 2.803.717 0 2,803.717 2.681,906 Currant Asset$ Debtors Cash at bank and in hand 12 2,775 103,873 2.775 119,465 4,835 80,828 15,592 Total Current Assets 15,592 106,648 122,240 85,663 Llabilities Creditors: Bmounts falling due 'within one year 13 3,033 86.648 89,681 23,997 Liablllties 14 20,000 20,000 Net C'urrent Assets 12,559 12,559 61,666 Total Nèt Assets at 5th April 2024 2,816,276 0 2,816,276 2,743,572 Represented by.. The Funds of the Charity 16 Total Charlty Funds at 5th April 2024 2,816,276, 0 2,816,276 2,743,572 Agreed andslgned on behalf of the Board of Trustees on 10 10(QLt Ivlrs R Tarry (Chairm The notes on pages g to 15 form part of these accounts. Page 8
li Charitable Trust Mis for the year endad 5th A'pril 2024 'gleS lo the AGGounts 1 Accounting Pollcies Charify Informatlon Elise Pllklngton Ch8rilablg Trust Is a ChoTltable Incorporated Organlsalion and a Publlc Benefit Entlly es defined by FRS102. It Is govemed by a ¢onstitullon dated 19 December 2016 and is reglslered In England and Wales (charity numb8r: 11708471 The ChaTiVs Prlnclpal Address Is. RSdgecot. Lewes Road, HoTSted Keynes. Wesl Sussex, RH17 7DY.. A¢counling ConveDtlon ThesB aountS havè bgon prepared on an accTuals basis and going concgrn basis. and in accordance.wlth the accounting PDliGles sel out in this nole. The accounts ttomply with tho charity's governing dottumenl, the Charities Act 2011 "Accounting and Reporting by Charlties.. Slatomenl of Recommended Practice 3pplicablg to charities preparing thelr accotjnts In accorandanGe wllh the FlnanGial Reportlng Standard appllGable In the UK and Repub51c of Ireland (FR5 102)" {seEond edition October 20191 (the Charltles SORP) and UK Gen8ralty AG¢eplod AGGounling Practice. The accounts are PTepared in steTllng, whlch Is the functional currgncy of the GhaTlly. Mongtary amounts In Ih95e financlal 8latemenl8 are rounded lo the neare81 £, The accounts havg been prepared on the hlstOTlcal cost convenllon. rFJodifled to Include the revaluation of Investments at fair valug. The principal accounting policigs adopted are set out below. The charity has taken advantage of tho provisions in the Sokp for Charitles applylng FRS 102 Update Bulletln 1 not to prepare a Statement of Cash Flows. Golng Concgrn Al the time of approvlng the aDu, the Trustees have assessed whether. Ihere are any material uncertalnlles castlng doubt as to whether the charity wlll contlnue 8s a golng concern. The Trustees have concluded Ihey have a reasonable 8xpeclallon that Ihe GhaTity ha8 adequate resour¢es lo conllnug In operatlonal existence for the foreseeable future. Accordlngly, Iho Trustees ¢ontlnue lo adopt the 'going concern, basls of 8ccounllng In prepariftg these accounts. Charltable Funds UnTeStfiCted funds are av811able for usg at the discrgtiDn of Ihp TTUSt8os in furtherancg of the chBrlty'8 oblecllves, .unless .Ihe funds have bgen designated for olher purposes. Expendable Endowmenl.funds are invgsled to produce Incomo. Ag .thgre ar8 no condltlons attached to the funds, Ihe Trustees may convert all or part of It lo UnTeslricted Funds to be sp8nt. Incorrio Income Is recognised when th8 charlty is legally enlilled to it aftgT any pgrformanoe conditions have begn mel, the amounts can be measured rellably and11 Is probable Ihat income will be received. Cash donallons 8re re¢ogni5ed on recelpL Other donations are recognised once the charlty has been nolllled" of the donalion. unless performance condlllons Tequlre deferral of Ihe amount. Incorne Tèx recoverable in relation lo donallons received under Glft Aid or deeds of CDvenanl is.recognlsed at the time of the donatlon. Legacieg are recognised on recelpt or olherwlse if the charity has been notified of an Impendlng. dlstrlbution. the amount is known and TeGelpt Is expected. ff the amount is not known. the legacy is treated as a conllngent a55el. All divldend Incorne15 recorded nel and InGludes tax deducted only when It'ls rgpayable to the Charity. ExpendlturÈ Expendllure Is recognlsed when Iherg 15 a legal or conslrucllve obligallon for whl¢h 11 Is more likely than not thal a transfer of econDmlc benetit will be required. In selllemont and Ihe amount can be reliably measured as al the reportlng reporting dale. construciive gbligallon 8XlSts where Ihe charlty has communicated the commitment to pTovld .partlcular goods., servlces or fundlng to the recipient by the r&portlng dale and there are no eonditlons altaohed to Its payment falling due after the reporting date. PaEE O
Gharilable Trust or Ihe year ended 5th Aprll 2024 Aoles to the Accounts Provislons for liabillties must be recognlsed when 8ilher the timlng or thè amount of future expendilure requlred tr) setlle the obligation is uncertain. Thesè ara dlslingulshed sgparately on the balance sheÈl. If a transfer of resources Is no longer requlred. provlslons are reversed and charged lo the SOFA. Governance ¢08ts Governance cosls comprlse all oos15 Involvlng publlc accountability of tha charity and ils compll8nce with regulallon and good PTactlce. Support Costs and EmplDyeB Benefits .All 5UPPOrt Costs and employee benefits are paid from UnreslrfctÈd Funds. Tha cost of any unused IKJllday entlliement Is recognlsed in th8 perlod in whlch the employee¥ servIS are reGelved. TermInlI0n ben8flt8 aro cognised.Immedlat8ly as an expense. Investments Investments heid in the fund are Included at their market value a5 follows: la) Llsted securities are valued at the mid market value njling at Ihe balance sheet date. (bl Llsted .sÈcdrilles held in foreign Currencies have be8n valued at the mld market value and Iranslaled into their sterling equivalents at Ihe iales Nling al the balance sheet date. Ic) 'Gllts are valued at the mid market value rullng at the BalancB Sheet datè and Include interest that has accrued up to that date. Iriv8slments are classified as a fixed asset except when classlfled as a Gurrent assel where thB Inlentlon of the Iruslees 58 to dbpose of the asset and not relnvest Ihe proceed8. Other recognised Gains and Losses Rèallsed gains and lossès on investments are calculated as the differenc8 belween sales pro¢e8ds and their market value al the start of the year. or thelr subsequent cost and are Charged or credlled to th& Statement of Financlal Aclivitles in Ihe y8ar of disposal. Unreallsed galns and losses r8pros8nl the movement In m2Tk91 values during th& year and are credited or ohargèd lo lh6 Siatement of Flnancial Acllvllies resulling.from revaluing investments lo market value at the balance sh8el dale. Taxation The charity is not Ilable to income or capital galns tax on 51s charileble aclivllie8. IrrecoveTable VAT is included in thg asset Gost or th8 expenso lo which il relatgs. Cash Hnd cash equlvalents Cash al bank and In hand Is held to meel short-term cash commitments as they fall Llue r81her than for inve8tmènt purposes. Cash and cash equival&nls includ8 ca8h In hand, deposlls held at oall with banks, other short-tèTm banks, other short-term liquld Inve8lmgntB With OTigin81 maluriliBs of IhTee months or less and bank Dverdrafts. Bank overdrafts are shown wilhln borrowings In current Ilabililies. Finan¢lal Instruments The chaTIty has elected to appw the PTovislons of Sectlon 11 'Baslc Flnanclal Instruments, and secllon 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its flnanGlal instruments. FinanGlal Instrumgnts are r8wgnised in thg chaTity's baSanc8 shegt when th8 GhaTity become5 party to th8 contractual provlglons of the Instrument. Flnanclal asset8 and Ilabllllles are offset, wlth th? nel amounts p.resented in tho financlal slatements, wh8n th8re 19 a legally.ènforceable right to set off the recognl$ed amounts and the 18 an Inlenllon to gettle on a net basis or to reallse the as88t and settla the Ilablllty slmultadeously. Pagè ID
on Gharltable Trust nts for fhe year ended 5th Aprll 2024. /Not&s to the Accounts Basic flnancial assets Baslc financlaS assets, which include debtors and cash and bank balances, are Inltially measured al transaGtlon prlce Including Iransacllon costs and are subsequently carried al amortised cost uslng the effecllve Interest method unless the arrangement conslilules a Ilnancing transaction. where the Iransactlon Is tneasured at the PTesent value of the futur8 r8ceipls.dlscounted at a Market rale of Inlerest. Flnancial assets classified as receivable within one year are nol amortls8d. Basic fsnanclal liabilities Baslc financlal liabilities. including creditors and bank IoBns are recognlsed at transaction prlcè LEnless the arrangament consliiutes a flnancing transacllon, where the,.dobt Instrumont Is mgasured at the present value of the future payments discounl8d at a markgt rate of. Intare5t. Financial Ilabllilles cl8sslfled as p8yable, wllhin one year are not amortlsed. Dobt instruments are subsequ8ntly carried al 8mortlsed c05t, using the effectivè Interest rate method. Trddg credllors ar8 obllgatiDns to pay for goods or service thal have been acquired in the ordlnary cours8 of operallons from suppliers. Amounts payable aTe classified as current Ilabililios If paymenl Is due wlhin on8 year or Sess. If not, they are presented as non-CUTrent Ilabllitles. Trade credltOTS are recognised Inlllally al Iransaclion price and subsequently Tneasured at amoriised cosl using the effeclive interest method, 8ffectlve Inleresl method. Cancellatlon of financial liabi11ti95 Flnanclal Ilabllltles are decognISed wh8n th8 charivs wnlractuaS obllgations 'explro or are dlscharged or GanG8lled. 2 Critlcal accounting estlmates and Judgements In tha appllcatlon of tb? charfty's Becountlng pollcies, the Trustees are required lo mak¢ Judgements, eslimales and assumptions about th8 carrylng amount of assets and Ilabllllles that are not readlly apparent from other sources. The 85timates and 8ssooialed assumptions are based on hlstorical experlence and other factors that are con51dered to be relèvant. Actual resuSls may differ from these estlmates. The eslimates'and undeTlylng assumpllons are revlewed on an ongolng basls. Revisions lo accountlng esllmates are recogni8ed In the pèrlod In which the estimate is revised wheTe the revlslon affects only that perlod, or In (he. peTlod of Ihe revislon and futura periods wher8 the revislon affects both current and fulure periods. 3 Incomo from listefl Invèstments 2024 2023 UK Equities Unit Trust Incom9 Overseas InoDinÈ Over88a8 Interest Unlt Trust Inlère5t Gllt Inl&rest Gro88 Other Income ExGess Rèportable Income Overseas Tax deduct&d at sourcé 26,084 2,908 23.354 5,907 3,455 6.793 36,174 6.034 20,068 3,512 3,396 2,063 .1,415 841 (3,4681 (1,6571 65,874 71.005 4 Oth9r in¢ome 2024 2023 Bank Interest 1,020 630 1.020 630 Paup 11
, Chorltable Trust foi the y8ar ended 5th April 2024 otès to the Accounts" 5 Ralsing funds 2024 2023 Inveslmenl management Costs 11,850 12,015 12,015 6 Charitablè activities GraDt making 2024 Grant maklng 2023 Grant maklng." Equine Welfare grants (note 7) Elderly Frail granls (note 71 Returned grants Staff costs (note 8) Govarnance costs (nole g) Sundry offlc8 and admlnlstration expens85 96,998 77,830 (3.0001 18,319 8.020 403 76,310 76,633 17,914 6,056 517 .430 T Grants Grants are made to instilulion5 only. A full Ilst of grants awarded during the ye.ar is as follows: Equine Eld8rly Age UK Teeslde Anne Robson Trust Bristol & Westem Hospjtal Brooke 1 of 2 Brook8 2 of 2 ComTnunity R8soufGe Communily Works Crosskennan Lane Animal SanctU8ry Dartmouth Caring Dementia Support Donkey Sanctuary. Douglas Macmillan Hospice Friends of DaitmDor Hlll Pony Hero's Charity Hope Paslures Sanctuary Unk Visiting Soherne NOWZAD "Oaktree Anlmal Sanctuary Paul"Sartorl Foundallon scccc Tee5ide HosPi¢o Carg Togethér Dementla Support 3,453 5.500 5,500 20,000 20,000 4,428 7,500 9,000 7,446 5,OOD 10.000 5.'000 10,000 8,500 2,200 6,000 10,000 7,298 10,000 4.500 5,503 8,000 Total grants to institutions 96,998 77,830 'Related Party Tran5actlon a5 detailed In note 17. . Pagp 12
, Gharilable Trust ts lor the year ended 5th AprS12024 otes to the AG¢ount$ B Staff costs 2024 2023 Salary- gros8 pald Pen8lon conlrlbution- employ8rfs pald 17,969 350 17,579 335 18,319 Employee.expenses clolmed 208 The trustees regularly rev5ew expense5 Incurred and are satisfied that tho lev81 will.fluctuate In accordance wlth each year's activitie5. A pgnslon was mad8 availab b slaff during th8 year. The average number of part Ilme equivalent employees durlng Ihe year was 1 th all employae Ilmè spent being to provide support to the charity's grant maklng acllvlties. No employee received total etriployee beneflts of more than £60,000 duTing the year. g Governance costs 2024 2023 Truslees expenses (note 10) Consull8TSGy fees lftsuranco Regulalory Aceounlancy and compllants fees lftdep8ndent Examln811on fee Tax"reglslration and clalm fees Corporation Tax'Return fee Payroll fge 459 500 98 35 3,780 840 720 600 990 430 161. 35 3,708 672 1,050 8,020 10 Trustee exp9nses and rernuneration Apart from £459 (£430 In 2023) relmbursed to flve Iflve In 2023) Trustees for travel, no other amounts werè paSd to or benetit recelved by the Trusiees durlng the y8ar. 11 Invpstmenls Value at Purchases 0510412023 at Gost Sales proceeds Realised GaiDILoss Unreallsed GainlLoss Valu8 at 0510412024 Llsted Investments Fixed Interest i)Jerseas Equilles and Income (UK) Properly Funds Commodilips 125,830 1.226,692 1,189.275 58,131 81.978 68,000 -527,915 280.732 3,027 237,394 12.992 (3.710) 8.299 224,293 1,618,867 836,984 54,421 69.152 359.600 590,762 (13,534) {27,8171 20,704 {421) 2,681,906 876,647 971.066 41,772 2.803,717. Pagè 13
i Gliarltable Trust Is for the year ended 5th Aprll 2024 Notes to the Accounts 12 Debtors reoeiveable withln one year 2024 2023 Olhar Dèbtors 2,775 4,835 4,835 13 Credltors: amounts falling due within one year 2024 2023 Accrual for granls payable Accruals Other Greditors 78,877 15.000 412 8,585 10,360 23,997 14 Contingent Llablllty 2024 2023 Biooke- 2 of 2 20.000 20,000 15 Baglc Finanoial Instruments 2024 2023 Garrylng amount of financlal asBets Cash Recelv2ble within one year: Debtors 119.465 80,828 2,775 4.835 122,240 85,663 Carrying amount of financlal liabllitigs Payable wllhln one year: Credllors and accruals Liabililies 89,681 '2Q,000 23,g97 109,681 23,'997 Instrumènts measured at fair value through SOFA Investments al value 2,803,717 2.681,908 16 Movements beeen funds Balance at 06104123 InGome Galns 1 Transfer ILosse5} belwepn funds Balancè at 05104124 Expenditure Expendable Endowment Investments 2,735,115 841 (11,8501 216,230 (124,060) 2,816,276. Unrestricted funds: General funds 66,053 1198,570) 124,060 Total fund5 6,23 ,2T6 Expendable Endowment funds were transfèrred to Unrestrlcted Funds of Income end donated during th& yèar. Pogp f4
Inqlon Charltable Trust counts for the yèar ended Sth Aprll 2024 Notes to the Accounts 17 Tr?nsactlons wlth related partips and conflict$ Df Intèrast In accordance wlth the charltys conslllulicsn. a Trustee must always declara the nalure and exl8nl of any InteresL direct or indirect, and absent hlrnself or herself from any. disousslons In which Is It posslble that a confllct wi51 aflse bètweèn hls or hèr duty to act solely In the Intèrest of Ellse Pllkinglon CharltablB Trust. apart from lo GlarSfy fRcls. The Trustees have èstablished a Confllct of Inter&sl pollcy and Reglsler of Interè8ts. whlch Is regularty rev18wed and all Interest are de¢lared at Trustee meetlngs. The following Interests in rèspect" of potential beneflclar185 were declar8d at the Irusleeg mèèling5 during thè ye8r endad 5th April 2024-. Dr R Trenaman - Br18101 & W9slon Mr M Kerr- ThB Donkey Sanctuary See Related Pariy Transactions 8t Nol8 7. No other Iransacllons require disclosure in SpeCt of the year ended 5th Aprll 2024. 18 Comparative Statement of Financlal Activiti Expèndable UnrestrlGted Endowment Funds 2023 2023 Total Funds 2023 Income and endowments from: Donations and Legad99 Invaslroènls 71,005 fj30 71.OOS .630 Total 71,635 71.635 Expendlturtr on: Ralslng funds Ch#rltable aclw11198 12,015 12,015 177,430 177,430 12.015 177,430 189,445 Ngt Gains I ILDgses) on Investments 1300,1201 1300.120) Ng1 Income Ilgxpènditurè) (312.1351 1105.7951 1417,9301 Transf8rs b&iween funds 1103,0771 103.077 Not movoment in Fund5 R8con¢lllation of funds Total Funds a5 at 6th April 2022 {415,2121 P.718) {417,9301 3,160,32T 11.175 3,161.502 Total Fund5 85 at 5th April 2023 2,735,115 8,457 2,743,572 PBg• 15