Charity No. 1175627
The Areti Charitable Trust
Trustees, Annual Report and
Unaudited Financial Statements
For The Year Ended
31 December 2021
MOORE & SMALLEY

THE ARETI CHARITABLE TRUST
CONTENTS
Page
Trustees, annual report
Independent examiner's report lo the Iruslees
Statement of financial activities
Balance sheet
Cash flow slalemenl
Notes lo the accounts
10

THE ARETI CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Iruslees have pleasure in presenting their report and the financial slalements of the Charity for the year
ended 31 December 2021.
Reference and administrative details
Registered charity name
The Areti Charitable Trust
Charity registration number
1175627
Registered office
CIO Joseph A Jones & Co
6 Fenton Street
Lancaster
LA1 1TE
The trustees
The trustees who served the charity during the period were as follows..
P A Clarke
R A Follows
Solicitors
Joseph A Jones & Co
6 Fenton Street
Lancaster
LA1 1TE
Independent examiner
MHA Moore and Smalley
Priory Close
Sl Mary's Gate
Lancaster
Lancashire
LA1 1XB
Investment Managers
Garslang Independent Financial Services
The Resource Centre
Bridge Sl
Garslang
Preston
PR3 1YB
Lunesdale Investment Managers
Unil 3 Strands Barn
strands Farm Lane
Hornby
Lancaster
LA2 8JF

THE ARETI CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Background to the Charity
The Areli Charitable Trust I'the Charity") was created by Trust Deed on 26 August 2015, as amended by Deed
dated 31 October 2017, and registered with the Charity Commission on 8 November 2017 with Charity Number
1175627.
The principal object of The Areli Charitable Trust is lo make grants in order to give disadvantaged children and
young people opportunities lo experience and learn more about the natural word.
Charitable objectives
The objectives of the Charity are to advance in life and help young people, especially bul not exclusively those
living in the administrative area covered by Lancaster City Council, through..
al the provision andlor facililalion of recreational leisure a¢livilies provided in the interests of social welfare
designed to improve their conditions of life, especially bul not exclusively those who have need by
reason of their infirmity or disability, poverty or social or economic circumstances with a view lo
improving the conditions of life for such persons..
bl the provision andlor facililalion of support and activities which develop their skills, capacities and
capabilities lo enable them to participate in society as mature and responsible individuals..
cl advancement of their education in the conservation. protection and improvement of the physical and
natural environment.
dl The Charity's strategy to achieving its objectives is lo invest ils in¢ome lo generate a return that can
allow the Trustees lo donate to various charitable causes al their dis¢relion in accordance with the
charitable objects. The Trustees will measure the success of the Charity by quantifying the sum of
donations made to these causes. This is considered to be both the Charity's short term and long-term
objective.
Publlc beneflt
The Charities Act 2011 requires charities to report on the public benefit of their activities. The Trustees have
had regard lo the Charity Commission's gLJidance on public benefit and believe that an appreciation of the
Charity's public benefi't can be obtained from the review of ils achievements and performance.
Structure, governance and management
The Charity is governed by a Trust Deed dated 26 August 2015 and amended by Deed dated 31 October 2017,
under the terms of which the Trustees operate. Its charity registration number is 1175627.
The activity of the Charity is determined by the Trustees and facilitated with the assistance of Joseph A Jones
Solicitors. Lancaster. All decisions are made by the two Trustees. The Charity has no volunteers other than ils
Trustees.
The Charity pays no remuneration lo its Trustees and has no paid employees. There are no other volunteers lo
the Charity other than ils Trustees. Appointment of new Trustees would be al the discretion of the existing
Board and there would be no remuneration for such a role.
Investmènt policy
The investments held by the Charity and their performance is reviewed at each Trustee meeting with investment
managers who may be instructed lo carry out any recommended changes as to the inveslmènl instruments.
The managers are instructed lo keep a balanced portfolio to spread the risk and maximise capital growth
wilhoutjeopardising revenue income.

THE ARETI CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Risk Management
The Trustees Consider and assess on an on-going basis the major risks lo which the Charity may be exposed.
The principal risk is considered lo bè exposure lo markets with the investment portfolio held. The Trustees have
delegated fund management to Garslang Independent Financial Services who are expèrienced in this field
which is considered to mitigate the risks associated with such investments lo an appropriate level. The
performance of the investments is regularly reviewed through Trustee Board meetings.
Achievements and performance
The Iruslees are pleased to present 8 Posltive picture of the work of the Trust in 2021, despite the disruptions
and uncertainties of the continuing pandemic. Some ol the activities supported by the Trust had been funded in
2020 bul postponed until 2021 and others were new. The RSPB al Leighlon Moss was admirably proactive in
gelling children out into the natural world again after the straight jacket of the previous year.. in the last weeks of
the summer term over 300 primary school pupils visited the reserve for a day of educational activities.
It is heartening for the Trust lo support the enthusiasm and knowledge of others for the benefit of future
generations and the world we all live in, and we are glad that applications al the end of 2021 were at a more
'norm21' level.
Financial review and reserves policy
Al the end of the financial period the Charity had total funds of £5,153,130 12020.. £4,818,965). The nel
movement in funds of £334,165 was after nel investment surpluses of £330,292. Income was generated from
investments of £91,847 and £49,378 has been donated lo good causes. The Charity has incurred £38.596 in
other support costs in the period.
At the period end dale the Charity held £862,815 12020.. £926,052) in cash funds and £4,291,205 (2020..
£3,892,816) within ils investment Portfolio, both expected lo generate future income for the Charity.
There are no funds in deficit and no going concern uncertainties.
The Charity has no formal reserves policy. The Trustees intend to hold investments as capital and the proceeds
of returns from the investments will then be spent through charitable donations, as well as funding the operating
costs of the Charity. The nature of the Charity's operations means that a reserves policy is not necessary.
Plans for future periods
The Charity intends lo donate to further charitable causes in accordance with the objectives of the Charity.
There is not expected to be a material change in direction of the Charity in the short or medium term.

THE ARETI CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Trustees. responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for
each financial period which give a true and fair view of the state of affairs of the Charity. and of the income and
expenditure of the Charity, for that peiiod. In preparing these financial statements, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly..
observe the methods and principles in the Charities SORP IFRS1021',
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial slalements.,
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that
the Charity will conlinLJe in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any lime the financi21 position of the Charity and enable them lo ensure that the financial slalemen15 comply
with the Charity's governing document, the Charities Act 2011, the Statement of Recommended Practice..
Accounting and Reporting by Charities preparing the accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102}, and UK Generally Accepted Accounting
Practice.
The Trustees, Report was approved on
and was signed on behalf of the Trustee5 by..
P A Clarke
Trustee
R A Follows
Trustee

THE ARETI CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARETI CHARITABLE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2021
I report lo the charily Iruslees on my examination of the accounts of the charity for the year ended 31 December
2021 which are set out on pages 7 10 17.
Responsibilitiès and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 I'lhe Acl'l.
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 Directions given by the Charity Commission
under section 14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act., or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities {Accounls and Reports} Regulations 2008 other than any requirement
that the accounts give a 'true and fair view, which is not a maller considered as part of an independent
examination.
I have no concerns and have come across no other mallers in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached,
Jenny Mccabe FCA
Independent Examiner
MHA Moore and Smalley Chartered Accountants
Priory Close
Sl Mary's Gate
Lancaster
LA1 1XB
0670512022

THE ARETI CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
Unroaricted Restricted Total funds Total funds
funds
funds
2021
2020
In¢om8 from:
In￿StMentS
Other
91,847
91,847
85.692
75
Total
91,847
91,847
85,767
Expenditure on..
Charitable aclimlies
87,974
87,974
86,894
Total
87,974
87,974
86,894
Net income before other recognised
gains
3.873
3,873
11,1271
other recognised gains
Realised gainlllossl on disposals of
In￿StmentS
Unrealised gain on rewdlualion of
iniEslmenl8
45.121
45,121
{10,0391
285.171
285,171
154,302
Net movement in funds
334.165
334,165
143, 136
Reconciliation of funds-
Total funds brought forward
4,8q8,965
4,818,965
4,675,829
Totsl funds carried fO￿ard
13
5,153,130
5,153,130
4,818,965
The notes on pages 10 10 17 form part of these financial statements.

THE ARETI CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Flxed assets
In￿stmentS
10
4,291,205
3.892.816
4,291.205
3,892,816
Currant assets
Debtors
Cash al bank and in hand
11
1,450
862,815
1,897
926,052
864,265
927,949
Creditors: amounts falling due within
one year
12
12,3401
11,8001
Net current assets
861.925
926.149
Total assets less current liabilitles
5,153.130
4,818.965
Net assets
S,153.130
4,818,965
Funds-
Reslricled funds
Unrestricted funds
13
13
5.153,130
4.818,965
Total funds
5.153,130
4.818,965
These accounts were approved by the Trustees and aulhorised for issue on the
on their behalf by..
and are signed
P A Clarke
Trustee
R A Follows
Trustee
The notes on pages 10 10 17 form part of these financial stalemenls.

THE ARETI CHARITABLE TRUST
CASH FLOW STATEMENT
YEAR ENDED 31 DECEMBER 2021
2021
2020
Cash generated in operating activities
{86.9871
185,4351
Ca8hflows from inv&stlng aGtivitle$
In￿stment in¢ome
Pur¢hase of fixed asset In￿StmentS
Receipts from sale of i￿￿$1mentS
91,847
85,692
{481.7131 1134,3311
346,635
151,167
Cash (used iny provlded by investlng
activities
{130.2181
17,093
Increase in cash and cash equivalents
in the year
{130.2181
17,093
Cash and ¢ash eqUI￿lentS brought forward
1,090.027
1,072,934
Cash and cash equivalents carried forward
959.809
1,090,027
Reconclllatlon of ngt movement In funds to net cashflow from operating activities
Nel m0￿ment in funds
In￿stMent inGome re¢ei*d
Decrease in debtors
Increase in creditors
3,873
191,8471
447
540
{1,127}
{85,692}
1,384
Net cash Iu8èd Inll generatèd In
operating activities
186,987}
{85,435)
Components of cash and cash oquivalents
Cash al bank and in hand
Cash held with in￿StMent managers
862,815
96,994
926,052
163.975
959,809
1.090,027
The notes on pages 10 to 17 form part of these financial slatemenls.

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies
Legal form
The Areli Charitable Trust is a registered charity with charity number 1175627 established under a Trust
Deed dated 26 August 2015 and amended 31 October 2017. The registered office of the charity, the nature
of its operations and ils principal activities are all detailed in the Trustees, report within these financial
slatemenls.
The Charity meets the definition of a public benefit entity under FRS102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS1021 (Charities SORP IFRS 102}I, and the
Gharilies Act 2011.
The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary
amounts are rounded lo the nearest £.
The financial slalemenls have been prepared on a going concern basis under the historical cost
convention. The significant accounting policies applied in the preparation of these financial statements are
set out below. These policies have been consistently applied lo all periods presented, unless otherwise
slated.
Going concern
The Iruslees assess whether the use of going concern is appropriate i.e. whether there are any material
uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to
continue as a going concern. The Iruslees have considered the position of the charity and believe that it
holds sufficient reserves to continue in operation for al least 12 months from approval of the accounts,
therefore the going concern basis of accounts preparation is appropriate.
Income
Investment income is earned through holding assets for investment purposes, and through bank interest. It
includes dividends and interest and is included when the amounts are received andlor earned by the
Charity.
Expenditure
All expenditure is accounted for on an accruals basis in the expense categories required by the SORP.
Expenditure is recognised where there is a legal or constructive obligation lo makè payments lo third
parties, il is probable that the selllemenl will be required, and the amount of the obligation can be
measured reliably. Costs are further allocated between the activities undertaken on a basis consistent with
the use of the resources. Expenditure includes irrecoverable VAT.
Charitable activities expenditure includes costs incurred in the delivery of the charity's activities and
services. 11 includes professional fees in maintaining the investment portfolio.
The main expenditure for the Charity is throLJgh making donations lo good causes al the discretion of the
Trustees, in accordance with the Trust Deed.
-10-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding
transaction costs. Investments are subsequently slated at fair value of the shares which are publicly
traded. The SOFA included the nel gains and losses arising on revaluations and disposals throughout the
period.
Cash and cash equlvalents
Cash is a basic financial asset and includes cash and deposits held on call and on deposit with banks.
Fund accounting
Unr8Stricf8d funds - General funds are available for use al the discretion of the Trustees in furtherance of
the genera1 objectives of the charity.
Designated funds
purposes.
Designated funds are unrestricted funds sel aside by the Trustees for particular
Restricted funds - Restricted funds arise where there is a donor-imposed reslriclion on the use of the
funds. or the funds have arisen in response to an appeal for a specified purpose.
Taxation
HM Revenue & Customs considers The Areli Charitable Trust to be a charity and therefore they are
entitled lo exemption from lax afforded by Sections 478-489 of the Corporation Taxes Act 2010 to the
extent that income is applied exclusively for charitable purposes.
Financial instruments
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party lo
conlraclual provisions of the instrument.
Basic financial assets are initially measured al transaction price and are subsequently carried al amortised
cost. Financial assets are assessed for indicators of impairment al each reporting end dale.
The charity has no basic financial liabilities al the period end
Judgements and key sources of estimation uncertainty
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the Carrying amounts of assets and liabilities that are not ieadily
apparent from other sources. The eslimales and associated assumptions are based on historical
experien￿ and other factors that are considered lo be relevant. Actual results may differ from these
estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basis. In the opinion of the
Trustees there have been no significant judgements made in the process of applying the above accoLJnting
policies. There have been no key assumptions concerning future and other key sources of eslimalion
un￿rtainlY al the reporting dale that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
-11-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Income from investments
Unrestricted Restricted
funds
funds
Total
2021
Total
2020
Bank interest receivable
Diiridends receI￿d
7,055
84,792
7.055
84.792
4,354
81.338
91,847
91.847
85,692
Other Income
Unrestricted Restricted
funds
funds
Total
2021
Total
2020
Other income
75
75
Expenditure on charitable activities
Opportunities
for young
people
Total
2021
Total
2020
Activity
Donations in accordance wth Charity objects
Support costs
49,378
38,596
49,378
38,596
51,924
34,970
87,974
87,974
86,894
-12-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Support costs
Total
2021
Total
2020
Professional fees
In￿stment management fees
Other costs of in￿StmentS
A¢¢ounlancy fees
Bank charges
Website costs
4.800
22,628
8,252
2.760
107
49
4,800
20,230
7,212
2,610
52
38,596
34,970
Net income
2021
2020
Net Income Is stated after charglng..
Independent examination fees
Independent examinerfs remuneration
other lax adiAsory seDAces
2,310
2,160
450
450
staff costs and Trustee remuneratlon
The Charity has no employees during the period and no individua1, including the Trustees, received
any remuneration.
No expenses have been paid to Trustees during the period.
Related party transactlons
The Charity is considered lo be under the control of the Trustees during the period.
There are no reporting related paty transactions during the current year.
-13-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
10 Fixed asset investments
2021
2020
other investments at Valuation
Balance brought fopNard
Acquisitions al cost
Receipts for sale of inkeslments
Realised losses on sale of In￿stmentS
Unrealised loss on In￿StMentS
m0￿Ment in cash held as part of In￿StMent portfolio
3,892,816
3,779,080
481,713
134,331
1346,6351 1151,1671
45,121
110.0391
285,171
154,302
166,9811
113,6911
Total investments
4,291,205
3,892.816
Total In￿StMentS comprise the following type of in￿StMents..
UK listed equities & fixed interest securities
UK listed bonds
Property and alternati￿ inEslmenls
Cash held as part of in￿stment portfolio
2,441,200
1,451,292
301,719
96,994
2,410,525
1,036.264
282.052
163.975
Total investments
4,291,205
3,892,876
11 Debtors
2021
2020
Accrued bank interest
1,450
1.897
1,450
1,897
12 Creditors: amounts due wlthln one year
2021
2020
Accruals
2,340
1,800
2.340
1,800
-14-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13 Analysis of funds: Current year
At1
Jan
2021
At31
Dec
2021
Inv'ment
gains
Income Expendlture Transfers
Reslricled tunds
Unreslricled funds
4,818,965
91.847
187,9741
330,292 5.153,130
Total funds
4,818,965
91,847
187,9741
330,292 5.153,130
14 Analysis of funds: Prior year
At1
Jan
2020
At31
Dec
2020
Inv'ment
gains
Income Expenditure Transfers
Restricted funds
Unreslricled funds
4,675,829
85,767
186.8941
144,263 4,818,965
Total funds
4.675,829
85,767
186,8941
144,263 4,818.965
15 Analysis of net assets between funds: Current year
Flxed asset Net current
investm&nts
assets
Total
Restricted funds
Unrestricted funds
General funds
4.291,205
861,925
5,153,130
Total funds
4,291,205
861.925
5.153,130
-15-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
16 Analysis of net assets between funds: Prior year
Fixgd asset Net current
investments
assets
Total
Restricted funds
Unrestricted funds
General funds
3,892,816
926, 149
4,818,965
Total funds
3,892.816
926.149
4,818,965
-16-

THE ARETI CHARITABLE TRUST
APPENDIX TO THE FINANCIAL STATEMENTS.. DONATIONS
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees are pleased to document the following donations which have been made during the year..
Donations
2021
Donations
2020
Amside and Sil*rdale AONB
Castle View Primary School, L8n¢asler
CEEP
Escape2make
Hermitage Feld Cornmunity Meadow
Heron Corn Mill
Lancashire Youth Challenge
Lan¢asler 8oys and Girls Club
LUDUS Danco
Marsh Community Centre
Morecambe Bay Partnership
Morecambe Bay Primary Schwl
Poullon4e-Sands Primary School, Lancaster
Sandylands Primary School, Morecambe
Sl Lukes Primary School, Skerton
Sl Patricks Catholic Primary SchiJ)I, Morecambe
Truma¢ar Primary School, Heysham
Walney Community Trust
West End Primary School, More¢8mbe
Weslgale Primary School, Morecambe
Willow Lane Primary School, Lancaster
15,800
342
3,600
25,000
3,410
2,400
8,820
8,150
3,394
6,580
3,500
13,300
655
348
300
1,010
1,302
599
1,200
300
950
342
49.378
51,924
-17-