THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST (Registered Charity no: 1172239) ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS CONTENTS Page Reference and administrative information Trustees annual report Report of the auditors 10 Statement of financial activities for the year ended 5 April 2025 11 Balance sheet as at 5 April 2025 12 Cash flow statement for the year ended 5 April 2025 13-16 Notes to the financlal statements
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS REFERENCE AND ADMINISTRATIVE INFORMATION Charity Name The Louis Nicholas Residuary Charitable Trust Registered Charity no." 1172239 Goveming Instrument Will of the late Louis Nicholas Trustees Mr J R M Simcox FCA Mrs K A Konsta MQSmye Mrs F V Nomian Principal Offi 35B Market Street Hoylake Wiffal CH47 2BG Adrninistration and Accountancy Simeox & Co. 35B Market Streel Hoylake Wirral CH47 2BG Auditor Riverside Accountancy Lancaster Limited Suite 2. 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA13SU Bankers Handelsbanken Liverpool Duke Street Branch 4th Floor 10 Duke Street Liverpool LA1 1RD Website Inrct.co.uk
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS TRUSTEES ANNUAL REPORT Trustees. Annual Report for the year ondod 6 Aprll 2025 The trustees of the Louis Nicholas Residuary Charitable Trusl present tneir report and accounts for the year ended 5 April 2025.The financial ststemenls have been prepared in accordance wilh the accounting policies Sel out In the notes to the accounts ano comply witn the Chariws governing document. the Charities Act 2011 and Accounting and Reporting by Charities- Stalement of Recommended Practice applicable lo Charities preparing their accounls In accordance with the Financial Reporting Slandard applicable In the UK and Republic of Ireland published in Oclober 2019. The Charily does not carry out tunaraising activities Trustees The trustees wno aCd throughout the year were a5 follows: Mr J R M Simcox FCA Mrs K A Konsta MQSmye Mrs F V Norman Structure. Govemance and Managèment The Charty Is an unincorporated trust. constiluled under the Will of the late Louis Nicholas and Is a charity. number 1172239. The number of trustees will be oetermine(I by the existing trustees The nature of the trusi is that there Is selaom a need lo appoint any new Irusiees. New irustees, when required. will be found by the existing trLJStees. When recruiting new Irustees, the trustees look for individuals with skills and experience which are of value to the Charity. The existing trustees will spend a significani time in providing background Information to the new candidale and at the same lime make reference to the detailed guidance Drovided by the Charity Commission. The trustees met formally four times during Ine year lo consider applications and decide on grants to worthy causes. The day to day processing of aDplications and correspondence Is delegated lo Sirncox & Co. from the principal office. Thè Irusiees give their time freely. Details of trustees expenses are disclosed in note 9 to the accounts. Risk Policy The Irustees have examined the major strategic. operational and financial risks which the Charity faces and are satisfied that systems have been established to mitigate exF)osure lo Ihem. Objectives and grant policy The Charity nas general Charitable purposes set oul in lis trust tJeed. The trusiees ¢onfirm Ihat they have complied with the duty in section 4 of the Charities Acl 2011 10 have due regard to the public 9uidance published Dy the Charity Commission when reviewing Ihe Charitys aims and objectives and settin9 the grant making policy. The Charity's grant making policy Iwhich is sel oul in general guidelines for applicantsi was as follows..
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS TRUSTEES ANNUAL REPORT (continued) Guidelines for Grants 1 The Charity provides financial assistance to those organisalions with any general charitable purposes within England and Wales. 2 Grants are awarded only to charitable organisations which have a proven track record of successful and efficient use of reSoUrS in their operalion or. in the case of newer organisations. convincing evidence of ability. Objectives and grant policy 3 The Charity will consider grants to organisations of all size5. Grants vary in amount bul generally fall within the range of £1,000 to £25,000. The total amount awarded varies from year to year according to available funds. On occasions payments in excess of £25.000 are made to support one-off projects. 4 In the current financial climate, commitments to make fulure paymenls are given only in exceptional circumstances. with grants nonallY being one-off annual grants. 5 Exceptional Grants The trustees do consider larger exceptional grants, but this Is unusual and generally confined to charities that we know well. There is no separate grants programme for this. and contenders will be identified from the normal grant round. Review of activities During the year ended 5 April 2025, a total of 199 grants were awarded totslling £1,090,000 compared with £1.104.9001199 grants) the previous year. Examples of grants awarded during Ihe year are as follows: a A donation of £5.000 to assist In the adaptalion of clothing for people with disabilities. b A donalion of £10.000 iowards an organisation providing farming scholarships. c A donation of £5.000 towards the promotion of safety in the home in deprived areas. d A donation of £10.000 to assist In the electric conversion of a youth club's mini-bus. e A donation of £5.000 towards the costs of training of dogs for people suffering with autism. f A donation of £10.000 to assist a charity offering support to people suffering with epilepsy g A donation of £5.000 to an organisalion supporting men who suffer domestic abuse. h A donation 01 £4.000 to provide countryside experiences for inner city children. Financial Position and Results of the year All funds of the Charity are held as Unrestricted Funds During the year the nei outgoing resour$ totalled £173.805 (2024 £196.357)). The value of the investments at 5 April 2025 is shown in note 2 to the accounts. The Trustees are satisfied with the perfomance of the charity's investments,
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS TRUSTEES ANNUAL REPORT (continued) Investment Policy The investments held within the trust are holdings in unquoted companies. As with all unquoted Investments. the trustees are mindful of their values. However. they are confident that the values shown are lair. They are also confident In the companies to maintain the current level ot dividends Into the foreseeable future, Reserves Policy The Charity is a granl making charity and its income generating assets are therefore held as investments and cash deposits. In any given year. a surplus or deficit on nei resources will arise which will fluctuate from year to year. Any balance of income carried forward into the nexi year is treated as income available for distribution The trustees consider all income is available for distribution and do not anticipate setting aside any funds for special projects. At 5 April 2025 the Charity held reserves of £15,887,110 (2024 £15,927.915). Plans for future periods The trustees do not anticipate any significant changes to their current system for awarding grants. Statement of trustees. responsibi1Stles in relation to the financial statements The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Standards. The law applicable to charities In England and Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application ot resources of the Charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently. observe the methods and principles of the Charities SORP.. make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed. subjecl to any departures disclosed and explained in the financial stalemen15; and prepare the financial statements on the going concern basis unless it Is inappropriate to presume thai th6 Charity will continue in business. The irustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity an¢ enable Ihem to ascertain to ensure that the financial statements Gomply wilh the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions ol the trust deeo. The are also responsible lor safeguarding the assets of the Charily and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information Include¢J on the Charity's websile.
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS TRUSTEES ANNUAL REPORT (continued) Declaration I declare, in my capacity of charity trustee. that the trustees have approved the report above and have authorised me to sign it on their behalf. J R M Simcox, Trustee
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS INDEPENDENT AUDITOR'S REPORT Opinion We have audiled the financial ststements of the Louis Nicholas Residuary Charitable Trust (the charity) for the year ended S April 2024 which comprise Statement of Financial Activities, Balance Sheet. Cash Flow SLitement and notes to th& financial ststements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is apDlicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements= give a true and fair view of the state of the charitls affairs as at 5 April 2024. and of its incoming resources and application of resourGes. including its Income and expenditure. for the year the ended: have been properly prepared in accordance vnth United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnion We conducled our audit in accordan with International Standaras on Auditing {UK} IISAS (UK)) and applicable law. Our responsibilities under those standards are turther described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are inaependeni of the charity in accordance with the ethical requirements thai are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these reouirements. We believe thai the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial staternents. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have nol identified any material UnrtaIntIeS relaling to evenls or conditions that. individually or collectively. may casl significant doubt on the charItS ability to continue as a going concem for a period of at least Iwelve months frotn when the financial slaternents are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The other Information comprises the information included in the tru5tees' annual report. other than the financial statements and our auditols report thereon. The trustees are responsible lor the other Information containeo within the Snnual report. Our opinion on the financial staiements aoes not cover the other information and, expt to the exient otherwise explicitly slaied in our report. we Oo not express any fom of assurance conclusion thereon.
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS INDEPENDENT AUDITOR'S REPORT {continued) Irregularities, including fraud, are instsnces of non-complian with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of iegularl11e$, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below: The financial statements have been reviewed in conjunction with an FRS102 Charity checklist to ensure the enttty is complying with the correct framework Review of trustees minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that the charity must follow in the year and to the date of signing the financial statements. The assessment of fraud was considered as low due to the segregation of duties seen. the low levels of cash hantjled and the regular reporting required of the charity to its trusiees. Dunng the audil we speak to management. tesi the systems and speak to vanous members of ihe finance function to understand the entity rts processes and the nature of trade io assist in determining if the financial statements are true and fair. As part of an audit in accordance with ISAS (UKI, we exercise professional judgmeni and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and pertomi audit procedures responsive to those risks. and obtain audit eviden that is sufficient and appropnate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than tor one resulting from error. as fraud may involve collusion. forgery, intentional omissions. misreDresentations. or the override of internal conlrol. Obtain an understanding of intemal control relevant to the audit in order io design audit Drocedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control Evaluate the sppropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the truslees. Conclude on the appropriateness of the trustees. use of the going concem basis of accounting and, based on the audit evidence obtained. whether a material unrtainlY exists related to evenls or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modlfy our opinion. Our conclusions are based on the audit evidence oblained up to the dale of our auditor's report. However. future events or conditions may cause the charity to cease to continue as a going concern. Evaluate Ihe overall presentation. structure and content of the financial staiements. including the disclosures. and whether the financial siatements represent the underlying transactions and evenis in a manner that achieves fair presentation (ie gives a true and fair viewl. We communicate with those charged with governance regarding. among other matters. Ihe planned scope and timing of the audit and significant audii findings. including any significant deficiencies in intemal control that we identify during our audit.
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS INDEPENDENT AUDITOR'S REPORT (continued) Othèr information Our responsibility Is to read the other information and, in doing so. consider wnether the other information is materially inconsisteni with the financial siaiements or our knowledge obtained in the course of the audit or otherwise appears to be maierially missiaied. If we identify such material inconsistencies or apparent matenal misstatements, we are required lo aetermine whether this gives rise to a material misstatement in the financial statements themselves If. based on Ihe work we have performed. we conclude that there is a material misstatement of this other informaiion. we are required to report that fact. We ttave nothing to report in this regard, Matters on which we are required to report by ex¢eption We have nothing to report in respe of the following malter5 in relation to which the Charities (Accounts and Reportsl Regulations 2008 require us to report to you if. in oui opinion.. the infomiation given in the financial statements is Inconsistent in any material respect with the trustees report: or the chanty has noi kept adequate accounting records: 01 the financial statements are not in agreement with the accounting records and reiurns. or we have noi received all the infomation ana explanations we require for our audil. Responslbllitles of trustees As exDlained more fully in the trustees, responsibilities statement set out on page 4. the trustees are responsible for the preparation of financial statements and for being satisfied thai they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statement5 that are free from material misstatement. wnether aue to fraua or error. In preparing the financial statements, the trustees are responsible for assessing the charty's ability to continue as a going Goncern. disclosing, as applicable. matters related to going COnM and using the going concern basis of accounting unless the trustees either Inten¢ to liquidate the cnariiy or to cease operations. or nave no realistic alternative but to 00 so Auditor's responsbbilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Acl 2011 and report in accordan with regulations made under section 154 of triat Aci. Our objectives are to obtain reasonaDle assuran atyoul whelher the financial stsiements as a whole are free from material misstaiemeni. whether due to fraud or error. and to Issue an audiior's report thai includes our opinion. Reasonable assurance is a high level of assurance. but Is noi a guaraniee that an audit conducted in accordance with ISAS IUKI will always deteci a maierial misstatement when il exists. misstatemp.nts can arise from fraud or error and are constderea maierial it. Individually or in Ihe aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial siatemenl5.
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS INDEPENDENT AUDITOR'S REPORT (continued> Use of our report This report is made solely to the charity's trustees. as a body. In accordance 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 auditorfs report and for no other purpose. To the fullesl extent penmitted by law. we do nol acp1 or assume responsibility to anyone other than the charity and the charitys trustees as a body, for our audil work, for this report. or for the opinions we have formed. Penelope Bowden River51de Accountancy Lancaster Limited Chartered Accountants and Statutory Auditors Riverside Offices Suite 2. 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA13SU Dated.. /0 /0! /? tr7 )-
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Note 2025 2024 All funds held are unrestricted Incoming resources Invesiment income Charitable activities 994,304 990.154 994,304 990,154 Resources expended Charitable Activities Granis made to institutions Support costs Governance costs 1.090.000 74.120 3.989 1. 104.900 77.635 3,976 1,168.109 1.186.511 Net (outgoing}lincoming resources (173,805) (196.357} Gain in fair value of investment assets 133.000 332.459 Net movement in funds for the year 140.8051 136.102 Total funds brought forward 15.927,915 15,791,813 Total funds carried forward 15,887,110 15,927,915 10
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025 Note 2025 2024 All funds held are unrestricted Fixed assets Investments 15.410,756 15.277,756 Current assets Cash at bank and in han(1 520.171 697.732 Current liabilities Creditors= amounts falling due within one year 43.817 47.573 Net current assets 476,354 650.159 Net assets 15,887.110 15,927.915 Represented by: Unrestricted funds 15,887,110 15,927,915 15,887,110 15.927.915 Approved by the truslees on . and signed on their behalf by. J R M Simcox, Trustee The notes on pages 13 to 16 form part of these accounts
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2025 2025 2024 Cash flows from operating activities: Net movement in funds per Statement of Financial Activities - Incorne and Expenditure Account (173.805) 1196.357) Adjustment for increase in creditors 3, 756 2,778 Net cash provided by operating activities (177,561) {193.579) Cash outflow 1177.5611 1193,579) Cash and cash equivalents Orought forward 697.732 891.311 Cash and cash equivalents carried forward 520.171 697,732 Analysis of cash and cash equivalents Cash at bank and in hano 505.171 697.732 12
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS Prlncipal accounting pollcies a Basis of accountlng These financial statements have been prepared under the historical cost convention (as modified by the revaluation of investments at year end values) in accordance with the Charities Acts. the Statemenl of Recotnmended Practice 2019.. FRS102 and other applicable accounting standards. The charity is a public benefit entity. The accounts are prepared in sterling. which Is the functional currency of the Charity. Monetary amount in these financial statements are rounded to the neast £. b Fund accountlng All funds held within the Charity are unreslricted and are for the use at the discretion of Ihe trustees in fUtheran of the general charitable objectives. Investments Inveslments are slated at a fair market value as calculated by the Irustees al the balance sheet date. All gains and losses. on these fair values are taken to the Statement of Financial Activilies as they arise. d Grants Donations are charged to the Statement of Financial Activities in the year when the donation is confirmed by the trustees. e Support costs These relate to support the grant making actlvities of the Charity. f Governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees. g Golng concern At the time of approving the accounts. the Trustees have a reasonable expectation that the Charity has adequale resources to continue in operational existence for Ihe foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the accounts. h Financial instruments The Charity has elecied to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 10 all of its financial instruments. Financial instruments are recognised in the charits balance sheet when the Charity becomes a party to the contractual provisions of the inslrument. Financial assets and liabilities are offset. with the nei amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo seltle on a net basis or to realise the asset and settle the liability simultaneously 13
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (continued) h Financial instruments cont. 8asic fjnancial assets Basic financial assets. which incluoe debtors and cash and t)ank balan$, are initially measured at transaction Drice including transaction costs and are subsequently carried at amortised cost using the effective Interest method unless the arrangement constitutes a financing transaction. where the transaction Is measured at the present value of the future feceipts discounted at a market rate of interest. Financial assets classified as receivable within one year are noi amortised Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unle55 the arrangement constilutes a financing transaction_ where the debt instrument is measured al the present value of the future payments discounted al a market rate of interesl. Financial liaDiliiies classified as payable within one year are not amortised. Debi instruments are subsequently carried al amortlsed cDsl. using the effective inlerest rate method. Tr2de creditors are obligations to pay for gooos or services that have been acquired In Ihe ordinary course of ODerations from suppliers. Amounis Dayable are classified as curreni liabilities rf payment Is due within one year or less 11 not. they are presented 8s non-current liabilities. frade creditors are recognisecl initially at transaction price and subsequently measure at amortised cosl using tne effective interesl method. i Judgements and key sources of estimation uncertainty In the application ol the Charity's accounting policies. the trustee5 are requireu to make ju(igements. estimated ana assumptions about the carrying amouni of asseis and liabilities Ihat are not readily apparent from other sources The estimates and associated assumptions are Daseo on historical experien and other factors Ihai are considered to be relevant. Actual results may drffer from these estimaies. The esiimates and un¢Jerlying assumptions are reviewed on an ongoing basis Revisions to accounting estimates are recognised in Ihe period in which the estimate is reviseo where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimated uncèrtainty The estimates ¢Jn(J assumptions which have a 51gnificant nsk ot causing a material aojusiment to the carrying amoLEnt of assets and liaDililies are as follows.. Fair value of Investments The charily's trustees aetermine the fair value of the Investments.. as tnese are unlisted investments there is no market rA)mparison available. however the rAlculate future valuation of the inveslmpnt baseo on the reivrn from tnese invesiments using 3 historic dividend yield of 6.4ts/0. Flxed Asset Investments The lair value ol Ihe fixed asset investmenis held by the Charily is performed on Ine Dasis of a historic dividend yiei¢J model u51ng an expected yield of 6 d0*¢ The trusiees consider this io be an appropriate rate lo use on Ihe basis ot returns tnai migni tse expected from similar invesiments In unquoiea traoing companies. 14
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (continued) k Incomlng Resources Investment Income - Interest and other investment income Is recorded in the Staiement of Financial Activities when received by the Charity. 2025 2024 Investment assets UK unquoted investments At fair value as per trustees valuation 15,410.756 14.945.297 Fair value al 5 April 2025 {2024) Fair value at 5 April 2024 (2023) 15 410.756 15.277,756 15.277.756 14.945.297 Increase In fair value 133.000 332,459 Investment income UK unquoted investments Other income 986.287 8,017 977.775 12,379 994,304 990.154 Charftable activities Donations not presented Creditors: amounts falllng due within one year Accruals 43,817 47 573 Support costs Fees charged by Simcox & Co. in the accounts for the year were £73.876 (2024 £77.635) inclusive of VAT and disbursements. Governance costs Bank charges for the year amounted to £155 (2024 £142) Trustees expenses for the year amounted to £244 paid to two trustees in the year. (2024 £NIL). These related to travelling expenses Audit fees of £3.834 were charged during the year In respect of the year ended 5 April 2024 (2024 £3.834) 15
THE LOUIS NICHOLAS RESIDUARY CHARITABLE TRUST ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (continued) 8 Donations The Iruslees maoe donations dunng the Year EO instiiutions in the tollowng soctors of socieiy.. Animal Welfare Children and Youth Education and Training Environmenl Ex Service Support Family Support ièalth and Hospilals The Arts Religious Aid 2025 2024 24.000 239.000 49.000 32.000 20.000 503.000 179.0( 14 000 30,000 36.500 220.000 34.000 28.000 38.000 470.500 244.500 10.400 23.000 1.090.000 1.104.900 9 Employees The Charity did noi have any employees during the year (2024 nil) No trustees received remuneration or employment benefits from the Charity. 10 Rolated Party Transactlons Dunng the year tees were charged by Simcox & Co.. a firm in which J R M Simcox. a Irusiee is principal. amounting lo £73.876 12024 £77.635} Inclu&ve of VAT and disbursements for tne provision of administrative and other support services. Al the year end an amounl of £43.81712024 £47_5731 was includeo within Creditors. In 2019. Mr M O Smye was appoInd a ljireclor of all four wmpanies In whh the charity ha5 invesiments. Dunng 2024 there were no olher lated pany donations made (2024: nonei. 11 Commitmont to future donations The trust has not coffimed lo any donations In the 12 months after 5 April 2025 12023- £10.0001. 12 Conlrol Relationships The charity Is ¢ontrolled by the Iru51ees. 16