Registered number: 12515601
Charity number: 1193055
THE ELSIE DAVIS TRUST
(A charitable company limited by guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Armstrongwatson.
Accountants, Business & Financial Advisers

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
CONTENTS
Page
Reference and administrativo dotsils of the charity. its trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financlal statements
8-17

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
G V Penn, Chair
C J Richardson
D l Richardson
M W Clark
Company registered
number
12515601
Charity registered
number
1193055
Registered office
Time Central
32 Gallowgate
Newcastle upon Tyne
NE14BF
Secretary
Muckle Secretary Limited
Independent examiner
Armstrong Watson LLP
Chartered Accounlanls
One Strawberry Lane
Newcastle upon Tyne
NE14BX
Bankers
Natwesl Bank PIC
Newcastle City
16 Northumbedand Street
Newcastle upon Tyne
NE1 7EL
Solicitors
Muckle LLP
Time Central
32 Gallowgate
Newcastle upon Tyne
NE14BF
Investment advisers
R8thbones Incorporating Inveslec Wealth & Investment IUKI
The Colmore Building
Colmore Circus
Birmingham
B4 6AT
Page 1

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Iruslees present their annual report together with the unaudited financial ststements of the charity for the
year ended 31 December 2024.
Referen￿ and adminislralive detsils sel out on page 1 form part of this report. The financial statements comply
with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and
Awounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing
their financial stslemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland Charities SORP FRS 102 and the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021.
Objgctives and activities
Obje¢tiVgS
The objects of The Elsie Davis Trust are for the benefit of the public generally, in the United Kingdom and in
particular bul not reslricled to the counties of Northumberland, Tyne and Wear, Durham, Tees Valley and
Cumbria and Ils surrounding areas to further charitable purposes as the trustees from lime lo time decide in
accordance with the laws of England and Wales by making grants lo other charities.
In planning and carrying out the charity's activities for the year, the trustees have considered the guidance
produced by the Charity Commission on public benefit and are confident that this will be achieved through the
grants made.
b. Grant making policy
The charity may make grants to support charities or charitable projects within the following themes or areas..
amateur sport.,
education and training.,
promotion of health and relief from sickness or disability., or
• in exceptional circumstances any other charitable purposes.
Grants are usually made lo organisations, rather than individuals, whose activities fall within and are consistent
with the charity's own objects. In the case of training awards or scholarships, for example, grants can On￿ be
made to individuals provided that their applications are supported by educational inslitulions.
Achiovements and porformanco
a. Achievements
The charity re￿iVed a further gift of shares of £1,016,000 from Mrs G V Penn on 16 September 2024. These
shares are being reinvested to generate investment income from which grants may be paid.
Grants of £191,900 were paid during the year12023' £137,615). Further details can be found in Note 6.
Page 2

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal revlew
a. Golng concem
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going concern basis in preparing the financial stslemenls. Further details regarding the adoption of the going
cOn￿M basis can be found in the accounting policies.
b. Reserves pollcy
It is the policy of the charity lo maintain unreslricled funds not invested in fixed assets (the free reseNesl at an
appropriate level to cover any gap that may arise be￿een investment income and grants payable and other
expenditure. The target level of reserves has been set at £100,000.
The free reserves al 31 December 2024 were £105,275 12023.. £111,266). The trustees consider this to be
appropriate al the current lime. The policy and reserves position will continue to be reviewed each financial year
c. Flnanclal revlew
The principal sources of unrestricted income comprised dividends and interest receivable amounting lo £193,476
12023.. £150,494). Against this was expenditure of £199,467 12023.. £144,886), resulting in net expenditure of
£5,99112023. net income of £5,608).
d. Investments pollcy
The memorandum and articles of association permit the charity to invest the monies of the charity not
immediately required for its purposes in such investments, securities or propety as may be thought fit and to
delegate the management of the investments lo a financial expert.
The primary objective of the portfolio is lo produce a certain level of income and for the capitsl value to be
preserved in real terms.
At 31 December 2024, the value of the charity's investment portfolio stood at £7,796,171 12023.. £6,572,440).
Structure, governance and management
a. Constltutlon
The charity is a company limited by guarantee, incorporated on 12 March 2020 and registered as a charity on
11 January 2021. 11 is govemed by ils memorandum and articles of association.
b. Methods of appolntment of trustees
The trustees may appoint, and the Iruslees may co-opt, any person either to fill a vacancy or as an additional
Iruslee, bul a co-opted trustee holds office only until the next AGM. Al each AGM, one third of the trustees retire
by rotation. The trustees appoint one of their number lo be the chair of their meetings.
The Iruslees for the purpose of charity law, who are also directors for the purpose of company law, who served
during the year and up lo the date of this report are sel out on page 1.
Page 3

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management Icontlnuedl
c. Organlsatlon
The charity is managed by the trustees, who will meet quarterly. The number of trustees may not be less than
three, but is not subject to any maximum. The quorum for the transaction of business is one tenth of the trustees
or trustees, whichever is greater.
d. Inductlon and tralnlng of trustees
New Iruslees are briefed on the powers and responsibilities of the trustees, the grant making process,
investments and the recent financial performance of the charity.
e. Rlsk management
The trustees have carried out a risk assessment to identify the major governan￿, financial, operational and
compliance risks which the charity faces and this will be reviewed each year. Detsiled procedures will be
estsblished to enable the Iruslees to monitor and miligale those risks.
Plans for future perlods
Grant applications will be considered with reference to the charity's available income.
ststement of trustees. responslbllltles
The trustees (who are also the directors of the charity for the purposes of company lawl are responsible for
preparing the Iruslees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Company law requires the Iruslees to prepare financial statements for each financial . Under company law, the
Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the slate of affairs of the charity and of its incoming resources and application of resources, including its income
and expenditure, for that period. In preparing these financial statements, the Iruslees are required to..
select suitable accounting policies and then apply them consistently",
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The Iruslees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and
enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by..
M W Clark
Dale.. 27 August 2025
Page 4

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent oxamingr's report to tho trustges of Tho Elsie Davis Trust I'tho charity'l
I report lo the charity trustees on my examination of the accounts of the charity for the year ended 31 December
2024.
Responsibilitigs and basis of report
As the trustees of the charity land Ils directors for the purposes of company lawl you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act'i.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006
Act and are eligible for independent examination, I report In respect of my examination of the charity's accounts
carried out under section 145 of the Charities Act 2011 1.the 2011 Acfl. In carrying out my examination I have
followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act.
Independent oxamingr's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examinabon giving me cause to believe..
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or
the accounts do not accord with those records,. or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and faiv view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in aceordanee with the methods and prineiples of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their
account5 in accordance with the Financi81 Reporting Stand8rd applieable in the UK and Republic of
Ireland IFRS 10211.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached.
This report Is made solely lo the charity's Iruslees, as a body, In accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the charity's
Iruslees those mallers l am required to slate to them In an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not a¢￿p1 or assume responsibility to anyone other than the
charity and the charity's Iruslees as a body, for my work or for this report.
Signed..
Dated..
D R Gold BA FCA
Independent Examiner
Armstrong Walson LLP
First Floor
One Strawberry Lane
Newcastle upon Tyne
NE14BX
Page 5

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Endowment
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations
Investments
1,016,000
1,016,000
193.476
193.476
150,494
Total Income
193,476
1,016,000
1,209,476
150,494
Expendlture on:
Raising funds
Charitable activities
3,197
196.270
28,774
31,971
196.270
29,718
141,914
Total expendlture
199,467
28,774
228,241
171,632
Nel gains on investments
239.174
239,174
364,714
Net lexpenditurellincome
15,9911
1,226,400
1,220,409
343,576
Net movement in funds
15.9911
1.226,400
1.220,409
343,576
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
111,266
15,9911
6.571,580
1,226,400
6.682,846
1,220,409
6,339,270
343,576
Total funds carried forward
105,275
7,797,980
7,903,255
6,682,846
The Ststemenl of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 10 17 form part of these financial statements.
Page 6

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
REGISTERED NUMBER: 12515601
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Investments
10
7,796,171
6,572,440
7.796.171
6,572,440
Current assets
Debtors
Cash al bank and in hand
11
36,300
82.571
34,659
86,536
118.871
121,195
Creditors." amounts falling due within one
year
12
(11,787)
{10, 789)
Net current assets
107,084
110,406
Total net assets
7.903,255
6,682,846
Charity funds
Endowment funds
Unrestricted funds
13
13
7,797,980
105,275
6,571,580
111,266
Total funds
7,903,255
6,682,846
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company lo obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Iruslees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to enlilies subject lo
the small companies regime.
The financial statements were approved and authorised for issue by the Iruslees and signed on their behalf by..
M W Clark
Dale.. 27 August 2025
The notes on pages 8 10 17 form part of these financial slatemenls.
Page 7

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Ggnoral information
The charity is a company limited by guarantee and has no share capitsl. 11 Is registered in England and
Wales.
The address of the registered office is Time Central, 32 Gallowgate, Newcasue upon Tyne, Tyne and
Wear, NE1 4BF.
The liability of each member in the event of winding up Is limited lo £10.
Accounting policios
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities
preparing their accounts in aceordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Elsie Davis Trust meets the definib'on of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the
relevant accounting policy.
The financial statements are p￿pared in sterling which is the functional and presentational currency
of the ch8rity.
2.2 Going concern
The charity has reviewed ils eash flow forecasts and there is a reasonable expectation that it has
adequate resources to continue in opeffttional existence for at least the next twelve months and on
this basis the charity is considered lo be a going coneern.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be ￿te1Ved and the amount of income receivable can be measured reliably.
Investment income such as dividends and interest from endowment fund investments are
unrestricted and included when ￿te1Vable.
Donations are re￿iVed by way of grants and donations and are included in full in the statement of
financial activities when receivable. Such income is only deferred when the donor specifies that the
gmnl or donation must only be used in future accounting periods, or the donor has imposed
conditions which musl be met before the charity has unconditional entitlement.
Page 8

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policios Icontinuedl
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. All expenditure is accounted for on an
accruals basis, inclusive of Irrecoverable VAT.
Expenditure on raising funds comprises those costs relating to financing, managing and maintaining
the investments.
Expenditure on charitable activities comprises all costs of activities In furtherance of the obiecls of the
charity and related support costs.
Grants payable are recorded once the charity has made an unconditional commitment lo pay the
grant which is communicated to the beneficiary or the grant has been paid, whichever is the earlier.
Grants offered subject lo conditions which have not been met at the balance sheet dale are noted as
a commitment, bul not provided as expenditure.
2.5 Invgstments
Fixed asset investments are a fomi of financial Instrument and are Inilialty recognised al their
transaction cost and subsequendy measured at fair value al the balance sheet date using the mid-
market price. Investment gains and losses, whether realised or unrealised, are combined and
presented as 'GainsllLossesl on investments, in the statement of financial aclivilies.
2.6 Cash at bank and in hand
Cash at bank consists of a current accounL
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the selllement can be estimated reliably.
Creditors and provisions are normally recognised at their settlement amount.
2.8 Financial instruments
With the exception of investments described above, the charity only has financial assets and financial
liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially
recognised at transaction value and subsequently measured at their settlement value.
2.9 Fund accounting
The unrestricted Income fund Is credited with the investment Income arising from the charity's
investments and Is charged with grants made by the charity and support costs. Any surplus on the
income fund is carried forward and available for future grants.
The endowment fund represents gifts of shares made by Mrs G V Penn. Although the endowment
fund is expendable at the trustees, discretion, a grant made out of capital would normally involve the
sale of Investments and would only be made in exceptional circumstances.
Page 9

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations
Endowment
funds
2024
Total
funds
2024
Total
funds
2023
Donations- Mrs G V Penn
1,016,000
1.016.000
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Dividends and interest receivable
193,476
193,476
150,494
Ralslng funds
Unrestrlcted Endowment
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Investment management fees
3,197
28,774
31,971
29,718
Page 10

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants
2024
2023
Grants to institutions
Alex Leukodyslrophy Charity
Bauer Radio's Cash for Kids Charities
5,000
1.000
5,000
Billy's Lifeline
Birkheads Wild CIO
Byker Real Project
Crackerjacks Children's Trust
Cramlington Voluntary Youth Project Ltd
Crohn's & Coli11s UK
Cruse Bereavement Support
Daft as a Brush Can￿r Patient Care Charitable Trust
Eyes Open
Feeding Families
Friends of LV50
Hawthorn Primary School (ln Harmony Project)
Hebburn Helps Foodbank
Henry Dancer Days
If U Care Share Foundation
Leo's
Love, Amelia
Microphthalmia, Anophlhalmia & Colobom8 SupFX)rt
Newcastle University- Alzheimers Research
Newcastle Wesl End Foodbank
Niemann-Pick Up
NIWE Eating Distress Service Tmding as Eating Distress North East
Northumberland County of Sanctuary
Oswin Projects
Parkinson's Disease Society of the United Kingdom
Rainbow Trust Children's Charity
Read for Good
Soundaboul
7,000
10,000
1,600
3.000
10,000
5,000
2.000
1,000
5,000
5,220
6,000
1.500
10.000
6,000
5,000
5.000
1,500
2,000
9,500
5,000
3,000
5,000
4,000
8.000
5,000
5,000
1,000
10.000
5,000
10,000
3,000
5,500
2,000
15,000
11,000
3.000
Spinal Injuries Association
Sports Driving Unlimited
St Oswald's Hospi
stepney Bank Stables Ltd
Support D￿S Limited
Talking Marras
Team Evie
5,000
15,000
12.400
5.000
2,000
2,000
10.000
2,000
Carried forward
146,900
114,320
Page11

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Brought fotward
The Chronicle Sunshine Fund
The Great North Air Ambulance Service
The Greggs Foundation Breakfast Club IHolspur Primary School)
The People's Kitchen Limited
The Road lo Recovery Trust
The Species Recovery Trust
The Stephen Carey Fund
Walker and District Food Bank
Wansbeck Valley Food Bank
Wessington Bright Futures Foundation
Young Enterprise
146.900
4,000
15,000
3.000
6.000
114,320
3,500
4,000
5,000
2,000
1, 795
6.000
6,000
5,000
2,000
5,000
191,900
137,615
Anatysis of expenditure by activities
Grant
funding of
activities
2024
Support
osts
2024
Total
funds
2024
Total
funds
2023
Charitable activities
191,900
4,370
196.270
141,914
Total 2023
137,615
4,299
141,914
Analysls of support costs
Total
funds
2024
Total
funds
2023
Accountancy fees
Independent examination fees
Legal fees
Travelling expenses
Bank charges
2,850
534
2,640
492
967
967
200
19
4.370
4,299
The costs of £4,37012023." £4,299) represent the governance costs of the charity.
Page 12

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent oxaminer's remuneration
2024
2023
Fees payable in respect of..
Independent examination
Accountancy servi￿$
534
492
2.850
2,640
Trustees. remuneration and expenses
During the year, no Iruslees re￿iVed any remuneration or other benefits (2023- £NIL).
During the year ended 31 December 2024, no Iruslee expenses have been incurred (2023- £NIL).
The charity considers ils key management personnel lo be the trustees.
10.
Fixed asset investments
Cash held
for
investment
Listed
investments
Total
Cost or valuation
At 1 January 2024
Additions
Disposals
Revaluations
6,527,815
1.664.479
1628,156}
185,957
44,625
6,572,440
682.972
2.347,451
(681.521) 11,309.6771
185,957
At 31 December 2024
7,750.095
46.076
7,796,171
All investments are carried al their fair value. Investments in equities and fixed interest securities are all
traded in quoted public markets. The basis of fair value for investments is equivalent lo the market value
using the mid-market price.
Page 13

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.
Debtors
2024
2023
Dividends and interest receivable
36.300
34,659
36.300
34,659
12.
Creditors- Amounts falling due within one year
2024
2023
Accruals and deferred income
11.787
10,789
Page 14

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
ststoment of funds
ststomont offunds - curront year
Balance at
31
Decomber
2024
Balance at 1
January
2024
Gainsl
(Losses)
Income Expenditure
Unrestrlcted funds
General Funds
111.266
193.476
{199.4671
105.275
Endowment funds
Endowment Fund
6,571,580
1,016,000
28,7741
239,174
7,797,980
Totsl offunds
6.682.846
1.209.476
{228.2411
239.174
7.903,255
Statement of funds - prlor year
Balan￿ at
31
December
2023
Balan￿ at
f January
2023
Gainsl
(Losses)
Incom8 Expenditure
Unrestricted funds
General Funds
105,658
150,494
(144,886)
111,266
Endowment funds
Endowment Fund
6,233,612
(26, 746)
364,714
6,571,580
Totsl offunds
6,339,270
150,494
(171,632)
364,714
6,682,846
Page 15

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14.
Analysis of net assets botwgen funds
Analysis of net assets bgtween funds - current pgriod
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Fixed asset investments
Cash held for investment
Current assets
Creditors due within one year
19, 1761
7,759,271
46,076
7,750,095
46,076
118,871
11,7871
118,871
14,4201
17,3671
Total
105,275
7,797,980
7.903,255
Anatysis of net assets between funds - prior period
Unrestricted Endowment
funds
funds
2023
2023
Tot81
funds
2023
Fixed asset investments
(6,032)
6,533,847
44,625
6,527,815
44,625
121, 795
(10, 789)
Cash held for investment
Current assets
121, 795
(3,897)
Creditors due within one year
(6,892J
Total
111.266
6,571,580
6,682,846
15.
Grant commitments
2024
2023
Commitments payable in 1 year
4.000
4,500
4,000
4,500
In addition, at the year end the charity had annual grant commitments of £10,000.
These grant commitments are not provided as liabilities in the financial statements. The amounts
represent future amounts of grants offered al the balance sheet dale, which are subject to ongoing
reviews and are payable out of future income.
Page 16

THE ELSIE DAVIS TRUST
IA charltsble company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any
outstsnding balances owing belween related parties and the charity at 31 December 2024.
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