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 be￿een 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 a￿ountS 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 a￿Du￿￿, 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¥ servI￿S are reGelved.
TermIn￿lI0n 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 de￿cognISed 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 be￿een 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