Charity No. 1175627
The Areti Charitable Trust
Trustees, Annual Report and
Unaudited Financial Statements
For The Year Ended
31 December 2022
mha
MOORE & SMALLEY

THE ARETI CHARITABLE TRUST
CONTENTS
Page
Trustees. annual report
Independent examiner's report lo the Iruslees
Slalemenl of financial activities
Balance sheet
Cash flow statement
Notes to the accounts
10

THE ARETI CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees have pleasure in presenting their report and the financial slalements of the ¢harily for the year
ended 31 December 2022.
Reference and administrative detai15
Registered charity name
The Areli Charitable Trust
Charity registration number
1175627
Registered ottice
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 Gale
Lancaster
Lancashire
LA1 1XB
Investment Managers
Garstang 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 (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Background to thè Charity
The Areli Charitable Trust I'the Charily") was Created by Trust Deed on 26 August 2015, as amended by Deed
dated 31 Octobei 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 lo give disadvantaged children and
young people opportunitiès lo experience and learn more about the natural word.
Charitable objectives
The objectives of the Charity are lo advance in life and help young people. especially bul not exclusively those
living in the adminislralive area covered by Lancaster City Council. through..
al the provision andlor facililalion of recreational leisuie activities provided in the interests of social welfaro
designed lo improve their conditions of life, especHlly bul not exclusively Ih05e 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, ¢apacilies 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
natura5 environment.
dl The Charity's strategy lo achieving ils objectives is lo invest ils income to generate a return that can allow
the Trustees lo rlonale to various charitable causes al their discreli)n in accordance wtih the ¢harilable
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-lerm objective.
Public benefit
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 guidance on public benefit and believe that an appreciation of the Charity's
public benefit can be obtained from the review of ils a¢hievemenls 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 Df which the Trustees operate. Ils charity registration number is 1175627.
The activity of the Charity is determined by the Trustees and facililaled 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 remuneraliDn to 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.
Investment policy
The investments held by the Charity and their perfomance is reviewed at each Trustee meeting with investment
managers who may be inslrucled lo carry out any recommended changes as lo the investment inslrumenls. The
managers are inslrucled lo keep a balanced portfolio lo spread Ihe risk and rnaximise capital growih without
jeopardising revenue income.

THE ARETI CHARITABLE TRUST
TRUSTEES. ANNUAL REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Risk Management
The Trustees consider and assess on an on-going basis the major risks lo whi¢h the Charity may be expos&d.
The principal risk is considered to be exposure lo markets with the investment portfolio held. The Trustees have
delegated fund management lo Garslang Independent Financial Services who are experienced in this field which
s considered to miligale the risks associated with such investments lo an appropriate level. The performance of
the investments is regularly reviewed through Trustee Board meetings.
Achievemènts and performanc
The Trustees are p￿aSed lo present a positive picture of the work of the Trust, with a strong up8wing in grants
awarded in 2022.
The Trust is receiving an increasing numberof applications for activities based in nature and in the local landscape
aimed spe¢ifi¢ally al raising awareness of environmental challenges such as biodiversity loss and climate change.
As 8 result, the Trustees have shifted their focus slightly and are minded lo priorilise such projects, while still
being willing to eonsider more"Iradilional° outdoor aclivilies.
Financlal review and reseThes policy
Al the end ol the financial period the Charity had lolal funds of £4,411,97312021.. £5,153,130). The nel decrease
in funds of £741,157 was after nel investment losses of £673,842. Income was generated from investments of
£101,943 and £130.236 has been donated to good causes. The Charity has incurred £39.022 in other support
costs in the period.
Al the period end date the Charbty held £817,370 12021.. £862,815) in cash funds and £3,593,569 12021..
£4,291,205) within ils inveslmenl portfolio. both expected lo generate future income lor the Charity.
There aTe no funds in deficit and no going concern uncertainties.
The Charity has no formal reserves policy. The Trustees intend lo hold investments as capital and the proceeds
of returns from the investments will then be spent through ¢harilable 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 lo further charitable causes in accordance with the objectives of the Charity.
There is not expected lo be a material change in direction of the Charity in the short or mediLJm term.

THE ARETI CHARITABLE TRUST
TRUSTEES. ANNUAL REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees. responslbllltles In rolatlon to th& financial stat8m•nts
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting SlandaTds (United Kingdom GeneraSly Accepted
Accounting Praclicel.
The law applicab￿ lo charities in England & Wales requires the Trustees lo prepare financial statements for ea¢h
financial period which give a true and fair view of the slate ol affairs of the Charity, and of the in¢ome and
expenditure of the Charity, for that period. In preparing these financial slalemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly..
observe the methods and principles in the Charities SORP {FRS1021',
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject lo any material departures
disclosed and explained in the financial statements.,
prepare the financial slalemenls on the going con￿rn basis unless it is inappropriate to presume that the
Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al
any lime the financial position of the Charity and enable them to ensure Ihal the financial slalemenls comply with
the Charity's governing document. the Charities Act 2011, the Slalemenl of Recommended Pradi¢e". A¢¢ounling
and Reporting by Charities preparing the accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021, and UK Generally Accepted Accounting Practice.
The Trustees. Report was approved on ..1 ??.. .l-..Z..Sand was signed on beha￿ of the Trustees by-.
P A Clarko
Trustee
RA Follows
Trustee

THE ARETI CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARETI CHARITABLE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2022
I report lo the charity Iruslees on my examination of the accounts of the charf(y for the year ended 31 December
2022 which are sel out on pages 7 to 17.
Responsibilities and basis of report
As the charity's Iruslees you are responsible for the preparation of the 8ccoun18 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
se¢lion 14515}{bl of the Act.
Independent examiner's statement
I have completed my examination. l Confirm that no material matters have come lo my attention in connection
with the examination giving me cause lo believe that in any material respe¢t'.
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 re¢ords', or
the accounts do notcomply with the applicable requirements concerning the form and conlenl of accounts
set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the
accounts give a 'lrue and fair view, which is not a matter considered as part of an independent
examination.
I have no Concerns and have ¢ome a¢ross no other mallers in connection with the examinalK)n lo which allenlion
should be drawn in this report in order lo enable a proper understanding of the accounts lo be rea¢hed.
Jenny M¢Cabe FCA
Independent Examiner
MHA Moore and Smalley Chartered Accountants
Priory Close
Sl Mary's Gale
Lancaster
LA1 1XB
1410712023

THE ARETI CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted Restricted Total funds Total funds
funds
funds
2022
2021
Income frorn..
Investments
101,943
101,943
91,847
Total
101,943
101,943
91,847
Expenditure on:
Charitable activities
169,258
169.258
87,974
Total
169.258
169,258
87,974
Net lexpenditure)lincome before
other recognised gains
167,3151
167,3151
3,873
other recognised gains
Realised Iloss)Igain on disposals of
investments
Unrealised Ilossllgain on revaluation of
investments
{33,3591
133,3591
45,121
1640.4831
{640,4831
285,171
Net movement in funds
1741,1571
{741,1571
334,165
Reconciliation of funds:
Total funds brought fO￿ard
5,153,130
5,153.130
4,818,965
Total funds carried forward
12
4,411,973
4,411,973
5,153,130
The notes on pages 10 to 17 form part of these financial statements.

THE ARETI CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Fixed assets
Inkestments
3.593.569
4.291.205
3,593,569
4,291,205
Current assets
Debtors
Cash at bank and in hand
qo
3.608
817.370
1,450
862,815
820.978
864,265
Creditors- amounts falling due Mrithin
one year
11
12,5741
(2,3401
Net current assets
818,404
861,925
Total asspts less current liabilitie5
4.411.973
5,153,130
Net assets
4.411.973
5,153,130
Funds:
Restricted fijnds
Unre51ri¢ted funds
12
12
4,411,973
5,153,130
Total funds
4,411,973
5,153,130
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 fonr part of these financial slatemenls.

THE ARETI CHARITABLE TRUST
CASH FLOW STATEMENT
YEAR ENDED 31 DECEMBER 2022
2022
2021
Cash generated in operating activities
1171,1821
186,9871
Ca5hflows from Investlng actlvities
In*slmenl income
Purchase of fixed asset in*slmenls
Receipts from sale of inkeslmenls
101.943
1119,7451
108,428
91,847
1481,7131
346.635
Cash lused Inv provlded by Investlng
activities
180,5561
{130,2181
Increase in cash and cash equivalents
In the year
180,5561
1130,2181
Cash and cash equivalents brought forward
959.809
1.090.027
Cash and cash equivalents carried forward
879.253
959,809
Reconclllatlon of n8t movement In funds to net cashflow from operating activities
Nel m0￿ment iri knnds
In￿StMent income reCei￿d
Decrease in debtors
Increase in creditors
167,3151
1101,9431
12,1581
234
3,873
191,8471
447
540
Net cash lused Inv generated In
operating a¢tivities
1171,1821
186,9871
Components ofcash and cash equivalents
Cash at bank and in hand
Cash held with In￿Stment managers
817,370
61,883
862,815
96,994
879,253
959,809
The notes on pages 10 to 17 form part of these linancial statements.

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies
Lègal 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 O¢tober 2017. The registered office of the charity, the nature
of ils operations and ils principal activities are all detailed in the Trustees, report within these financial
slalemenls.
The Charity meets the definition of a public benefit entity under FRS102. The financial 5talemenls have been
prepared in a¢¢ordance with A¢¢ounling and Reporting by Charilies.. Slalem&nl of Recommended Practice
applicable to charities preparillg their accounts in a¢¢ordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS1021 (Charities SORP IFRS 10211. and the Charities Act
2011.
The financial slalemenls are prepared in sterling, which is the functional currency of tho charity. Monetary
amounts are rounded lo the nearest £.
The financial statements have been prepared on a going concern basis under the historical cost convention.
The significant accounting policies applied in the preparation of these financial slalemenls are sel out below.
These policies have been consrslenlly applied lo all periods presented. unless otherwise slated.
Going concern
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material
un¢ert8inlies related lo events or ¢onditions that may cast significant doubl on the abilily of the charity lo
continue as a going concern. The Iruslees have considered the position of the charity and believe that il
holds sufficionl reserves lo Continue in operation for at least 12 months from approval of the accounts.
therefore the going concern basis of accounts pieparalion is appropriate.
Income
Investment income is eamed through holding assets for investment purposes. and through bank interest. 11
includes dividends and interest and is included when the amounts are re¢eived andlorearned 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 conslruclive obligation lo make payments lo third parties.
il is probable that the selllemenl will be required, and the amount of the obligation can be measured reliably.
Costs ale further allocated beiween the activities undertaken on a basis consistent with the use of the
reSoUr￿s. Expenditure includes irrecoverable VAT.
Charitable a¢livilies expenditure includes ￿$1$ incurred in Ihe delivery of the ¢harily's aclThiilies and services.
It includes professional fees in maintaining the investment portfolio.
The main expenditure for the Charity is through 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 2022
Accountlng pollcies Icontlnuedl
Investments
Investments are recognised initially al fair value which is normally the transaction price excluding transaction
costs. Investments are subsequently slated al 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 equivalents
Cash is a basic financial asset and includes cash and deposits held on call and on deposit with banks.
Fund accounting
UnreslF7cled funds- General funds are available for use al the discretion of the Trustees in furtheran￿ of the
general objectives of the charity.
Design8ledfunds- Designated funds are unrestricted funds set aside by the Trustees for particular purposes.
Reslricled funds- Reslricled fund5 arise where there is a donor-1mp0s￿ 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 lo be a charity and therefore Ih8y are enlilled
to 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 fi'nancial assets are initially measured al Irans8¢1ion price and are subsequenlly carried al amortised
cost. Financial assets are assessed for indi¢8lors of impairment al each reporting end dale.
The charity has no basic financi41 liabilities at the period end
Judgements and key sources of estimation uncertainty
In the application of the Charrty's accounting policies, the Trustees are required lo make judgements.
eslimales and assumptions about the carrying amounts of assets and liabililies that are not readily apparent
from other sources. The eslimales and associated assumptions are based on historical experience and other
factors that are Considered lo be relevant. Actual results may differ from these eslimales.
The eslimales and underlying assumptions are reviewed on an ongoing basis. In the opinion of the Trustees
there have been no significant judgements maole in the process of app4fing the above a￿OUntIng policies.
There have been no key assumptions concerning future and other key sources of eslimalion uncertainly 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 2022
Income from investments
Unrestricted Restricted
funds
funds
Total
2022
Total
2021
Bank interest reCei￿ble
DiMdend5 Teceiked
8.796
93,147
8,796
93,147
7,055
84,792
101,943
101,943
91,847
Expendlture on charltable actlvltl8s
Opportunities
for young
pèoplè
Total
2022
Total
2021
Activity
Donations in accordance ￿nth Charity objects
Support costs
130.236
39,022
130,236
39,022
49,378
38,596
169.258
169,258
87,974
-12-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Supportcosts
Total
2022
Total
2021
Professional fees
In¥estment management fees
Other cosls of In￿tMentS
Accountancy fees
Bank charges
Website costs
7,218
21,204
7,869
2,574
99
58
4,80C>
22,628
8,252
2,760
107
49
39,022
38,$96
Net income
2022
2021
Net income is stated after charging..
IndeFendenl examination fees
Inde￿ndent examinerfs remuner*ion
- other tax athisory seNces
2.145
2,310
429
450
Staff costs and Trustee remuneration
The Charity has no empbyees during the period and no individual. including the Trustees, received
any remuneration.
No expenses have been paid to Trustees during the period.
Related party transactions
The Charity is considered to be under the control of the two Trustees during the period.
There are no reporting related party transactions during the Current year.
-13-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Flxed asset Investments
2022
2021
Other investsnents at Valuation
Balance brought forward
Acquisitions al cost
Re¢eipls for sale of ￿n￿StmentS
Realised losses on sale of In￿StMentS
Unrealised loss on inkeslmenls
m0￿Ment in cash held as part of in￿stment portfolio
4.291.205
3.892,816
119.745
481,713
1108,4281 1346,635)
{33,3591
45,121
1640,4831
285,171
135,1111
{66,9811
Total investments
3,593,569
4,291,205
Total in￿StmentS comprise the following type of in￿StMents..
UK listed equities & fixed interest securities
UK listed bonds
Property and altematI￿ in￿StmentS
Cash held as part of in*stmenl wrtfolio
2,095,624
1,237,499
198,563
61,883
2,441,200
1,451,292
301.719
96.994
Total investments
3,593,569
4,291.205
10 Debtors
2022
2021
Accrued bank interest
3,608
1,450
3,608
1,450
11 Credltors.. amounts due wlthln one year
2022
2021
A¢¢rual$
2,574
2,340
2,574
2,340
-14-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
12 Analysis of funds: Current year
At1
Jan
2022
At31
Inv'ment
galns
Income Expendlture Transf&rs
2022
Restricted fvnds
Unrestricted funds
5,153,130
101,943
{169.258}
1673,8421 4.411.973
Total funds
5,153,130
101,943
169,258}
1673,8421 4.411,973
13 Analysis of funds.. Prior year
At1
Jan
2021
At31
Do¢
2021
Inv'ment
gains
Income Expenditure Transfers
R&slri¢led funds
Unrestricted fijnds
4,818,965
91.847
187.9741
330,292 5.153.130
Total fund5
4,818,965
91,847
187,9741
330.292 5.153.130
14 Analysls of net assgts bgtW8en funds: Curront year
Fixed asset Net current
investments
assets
Total
Rastricted funds
Unrestricted funds
General ￿ndS
3,593,569
818,404
4,411,973
Total funds
3,593,569
818.404
4.411,973
-15-

THE ARETI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
15 Analysls of ngl assets be￿￿en funds: Prlor year
Fixed asset Net current
Invèstments
assets
Total
Restricted funds
UnTe5trictad funds
General funds
4,291.205
861.925
5.153,130
Totsl fijnds
4.291,205
861,925
5.153.130
-16-

THE ARETI CHARITABLE TRUST
APPENDIX TO THE FINANCIAL STATEMENTS: DONATIONS
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees are pleased lo document the following donations which have been made during the year..
Donations
2022
Donations
2021
Castle View Primary School. Lancaster
CEEP
Escape2make
Hermitage Feld Community Meadow
Heron Corn Mill
Lancashire Youth Challenge
Lancashire Boys and Girls Club
Arnside & Silverdale AONB
Lancashire County Council
Cancercare
Stomping Ground CIC
Lakeland Arts
Skerton Youth Groups
Morecambe Bay Primary School
Poullon-le-sands Primary School. Lancaster
Sandylands Primary School, Morecambe
Sl Lukes Primary School. Skerton
Sl Patricks Catholic Primary School. More¢ambe
Trumacar Primary School, Heysham
Wesl End Primary SGhool, Morecambe
Westgale Primary S¢hool. Morecambe
Willow Lane Primary School, Lancaster
Sl Joseph Catholic Primary School
Lancaster Road Primary School
Bollon-le-sands Primary School
The Ridge Primary School
Carnforth Primary School
North Road County School Fund
Morecambe Road School
Ryelands PC
Kent Estuary Youth Project
The Outward Bound Trust
Larksfool CIC
Less UK CIC
Lilfesl
342
3,600
25,000
3,410
2,400
8,820
4,000
15,000
8,100
2,000
31,245
511
2,500
2,720
2,991
2,750
2,820
655
348
300
1,010
1.302
599
300
950
342
2,434
290
1,560
1,162
756
2,132
307
362
1,052
366
s.000
652
2.000
1,164
12,206
23,396
760
130.236
49,378
-17-