REGISTERED CHARITY NUMBER: 1202906 Report of the Trustees and Ullaudited Financial Ststements for the Year Ended 5 April 2025 for The Phillida NicboLsoD Charitable Trust Tayabaii Tomlin Chartered Accountants Kenton House Oxford Street Moreton-in-marsh Gloucestershire GL56 OLA The Pbillida Nichnlson Charitable Trust Con¢ellts of the FiR*inci411 Stalenients for the year en(le(l i Ai)ril 2025 Page Report of the Trii.%tec.s Independent EAamiiTer'.s Report ststement of Financi14 l Actii'ities Balance Sheet Notes lo the Fin#nci:Il .Statements 6 10 10 Detailed Statement of Finanei*l Activities The Phillida Nicho150n Charitable Trust Report of the Trustees for the year ended 5 April 2025 The trustees present their report with the fllwicial statements of the clwity for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and RewTrrting by Charities- Statement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECflVES AIYD ACTIVITIES Objectives and aims The Irustees have a grant making policy and have adhered to this in tllaking grants wherever possible. ACHIEVEMENfs AND PERFORMANCE Charitable activities and achievements The trustees agreed one substantial donation of £1 0.000 to pay for a seat in the Royal Opera House, London in memory of Phillida and Joan Ni¢holson both enthusi&stic opera supporters. The Opera House agreed that the money would be spent to support their outreach to children and young adults. We continued to supw)rt the education of 6 young students in Zimbabwe through donations to the Sethule Orphans Trust a UK registered charity. Other smaller grants were made all in line ￿'7th the remit of the charities grant-making policy document. Investment performance and policies The Trustees Act 2000 now Confers the charitys investment power5. The charity aims to gain the best returns and engages an investment manager to overs¢¢ the charitys tK)rtfolio. FINANCIAL REVIEW Reserves policy The charity has no significant source of income other than inve5tmenl income. The trustees will endeavour to maintain reserves at a level that provides recu￿Ing income to distribute to charitable causes. STRUCTURE, GOVERNANCE AND MANAGEMEiYr Governing document The charity is controlled by its governing documenL a deed of trust and constitutes an unin¢orporated charity. Recruitment aud appoilltment of new trustees There must be at least N."0 trustees. Apart from the first trustees. every trnstee must be appointed by a resolution of the trustees passed at a special meeting called under Clause 15 of the trust deed. In line with recommendations given by their advisors an additional Érustee was appointed. in August 2023. In selecting individuals for appointment as trustees, the trustees must have regard to the skills. knowledge and experience necded for thc cffcctivc administration of the charity. REFERENCE AND ADMINISTRATIVE DETAllS Registered Cknarity number 1202906 Page I The Phillida Ni¢holson Charitable Trus¢ Report of the Trustees for the year ended 5 April 2025 Principal addres5 Templis Broadwell Moreton-in-marsh Gloucestershite GL56 OTU Trustee5 Mr R J Greenhill Dr D J Neill MrWRSNeill ludependent Examiner Tayabali Tomlin Chartered Accountants Kenton House Oxford Street Moreton-in-marsh Gloucestershire GL56 OLA Approved by order of the board of truste¢s on 19 January 2026 and signed on its behalf by: Dr D J Neill- Trustee Page 2 Independent Exxminer'5 Report to the Trustees of The Phillida Nicholson Charitable Trust Iudependent examiller's report to the trustees of The Phillidg Niehobon Charitable Trust I report to the Charity twstees on my examination of the accounts of The Phillida Nicholson Charitable Trust (the Trust) for the year ended 5 April 2025. Responsibilities and b￿13 of report As the charity trusiees of the Trust you are res￿nSIble for the preparation of the accounts in ac¢ordanc¢ with the requirements of the Charities Act 2011 (Ihe AcV)- I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in ¢arrying out my examination I have followed all applicable Directions given by the Charity Commission under Seclion 145(5)(b) of the Act. Independent eyaminer's statement I have completed my examination. I confiml that no material marters have Come to my attention in connection with the examination giving m¢ cause to believe that ID any material respect.. a¢¢ounting records were not kept in r¢spe¢t of the Trust 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 forni and Content of accounts set out iri the Charities (Accounts and ReEK>rts) Regulations 2008 other than any requirement that the accounts give a true and fair vieiv which is noi a matter Considered &s part of an independent examination. I have no concerns and have come across no other matters in conJ)ettion with the exatnination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Asad Noorani FCA Tayabali Tomli Chartered Accountants Kenton House Oxford Street Morcton-in-marth Gloucestershire GL56 OLA 19 January 2026 Page 3 The Phillida Nicholson Charitable Trust Statement of Financial Activiti£s for the yegr ended 5 April 2025 p¢riod 26110122 to 514124 Total funds year ended 514125 Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 136,697 194,200 Investment income 5,201 4,236 Total 141,898 198,436 EXPENDITURE ON Charitthble activities Donations Administrative ¢xp¢nses 33200 3,637 38,400 8,828 Total 36,837 47,228 Net gains on investments 20045 9.116 NET INCOME 125,906 160,324 RECONCILIATION OF FUNDS Total funds brought forward 160J24 TOTAL FUNDS CARRIED FORWARD 286230 160,324 The notes forni part of these financial statements Page 4 The Phillida Nicholson Charitable Trust Balallce Sheet 5 April 2025 2025 Unrestricted fund 2024 Total funds Notes FIXED ASSETS Investments 256912 156,123 CURRENT ASSETS Debtors Cash at bank 43 30,571 145 5.250 30,614 5,395 CRED￿oRs Amounts falling due within one year {1296) (1,194) NET CURRENT ASSETS 29J18 4.201 TOTAL ASSETS LESS CURRENT LIABILrrIES 286230 160,324 NET ASSKTS 286230 160,324 FUNDS Unrestricted funds 286230 160,324 TOTAL FUNDS 286230 160.324 The financial slatements were approved by the Board of Trustees and authorised for issue on 19 January 2026 and were signcd on its behalf by: Dr D J Neill _ Trustee The notes forni part of these financial statements Page 5 Tbe Phillida Nicho150n Charitable Trust Notes to the Financial Statements for tbe year ended 5 April 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial stalements of thc charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statcment of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK ai)d Republic of Ireland, and thc Charities Act 201 l. The financial statements hav¢ bcen prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Illcome All income is recognised in the Statement of Financial Aciivities once the charity has entitlement to the funds, it is probable that the incom¢ will be received and the amount can be me&sur¢d reliably. Expenditure Liabilities are recogniscd as expenditu￿ as soon as thcrc 15 a legal or constructive obligation committing the ¢harity io that expenditure. it is probable thai a transfer of econotnic benefits will be requircd in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direcily attributed to particular headings they hai'e been allocai¢d to aciivilies on a basis wnsistent with the usc of resources. Taxp4tion The Charity is exempt from t&x on its chxritable activities. Fulld ACCOUllting Unrestricted fund5 can be used in accordance ivith the cliaritable objectives at the discretion of the trustees. Restricted fiinds can only be used for particular restricted purposes within the objects of th¢ ¢harity. Restrictions t11'i%e %%.hen specified by the donor or ivhen funds are raised for particular r¢strÉ¢ted purposes. Further explanation of tlie nature and purpose of eacli fund 1% included in the notes to the financial statements. Page 6 continued... The Phillida Nicholson Charitable Trust Notes to the Fin3incial Stattmeuts - eontinued for the ye8rended 5 April 2025 INVESTMF.wr INCOME period 26110122 to 514124 year ended 514n5 Interest and dividends 5,201 4,236 TRUSTEES, REMUNERATION AND BENEFITS There were iio truste¢s' remuneration or other benefits for the year ended 5 April 2025 nor for the period ended 5 April 2014. Trustee5' expenses There ivere no trustees, expenses paid for the year ended 5 April 2025 nor for the period ¢nd¢d 5 April 20?4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENfs FROM Donations aiid legacies 194,200 Investment iTr¢oinc 4.236 Total 198.436 EXPF.Tr4DITIIRE ON Charitable activities Donations Administrative expenses 38,400 8,828 Total 47228 Net giains on iiiveslinents 9,116 NET INCOME 160.324 TOTAL FUNDS CARRIED FORIVARI) 160,324 Page 7 Continued... The Phillida Nicholson Charitable Trust Notes to the Financial Statemellts- continued for the year ended 5 April 2025 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 6 April ?0?4 Additions DispoSc?Is Revaluatioi)s 156,123 105,924 (25,980) 20,845 At 5 April 20?5 256,912 NET BOOK VALUE At 5 April 202) 256,912 At 5 April ?0?4 156,123 There were no ink'estiiieiit assets outside the UK. Cost or valii