REGISTERED CHARITY I¥UMBER: J204728 TRU￿ES, REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2•24 FOR THE CHARIXS & ELSIE SYKLS TRusr {cio) THE CHARLES & ELSIE SYl￿s TRUST (CIO) COI¥TENTS OF THE FINAI¥CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Pw Refernn¢¢ and Ad￿th￿rA￿ve Det TnJtheJ' Report 3 to 13 Report of the IndependeD¢ A¥Ohors 14 to 17 Statrment of FJn*lleW Aellvltks Statenb•nt of Fkn*tsetsl PO￿11￿￿ 19 St*teth¢nt •1 Cath Flowi 20 No¢•8 to the St*teme*t of C*th Flg 21 IYote# to the FlTh*md•l Statemeots 22 ts 35 D¢tAlJed 5¢*temeDt ofFln*id*l Atthld 36 THE CHARLES & EISIE SYKLS TRUST (CIO) REFERENCE AI¥D ADMINISTRATIVE DETAIIS FOR THE YEAR ENDED 31 DECEMBER 2• TRUSTEES Mr D S Mead ((kn) MrRBKay mrssLB￿b Mr S Ruthion Dr D J l*inh8 Mr8 N J Mctttr MrNCRust PRINCIPAL ADDRESS FIM FkK The Exchang¢ North Yorksbir¢ HGI ITS REGISTERED CHARITY NUMBER 1204728 AUDITORS HPH A¢countaTbts LLP Conyngham Ilall Ilusin¢sJ C¢ Bond End NortFL Yorksbiwe HG5 9AY CAF B•Dk 25 Kings Hill Avenuc Kitigs Hill we￿ Mthllin8 ME194JQ SOLICITORS & SECREfARY N¢il J S￿w. LLB TEP LCF Law Thc Exeb*tt8e Ststion P*Tade HGI ITS ACCOUNTANTS & TREASURER John P GarbY￿ BA (Honsl FCA DSC T￿le15all Housc East Parath H*rro8ate HGI 5LT 5 Broadgate EC2M 2QS THE CItARLES & ELSIE SYKES TRusr {cIo) REFERENCE AND ADMINISTRATIVE DETAllS FOR THE YEAR ENDED 31 DECEMBER 2•24 CUSTODIAN TRUSTSE UBS AG Newca#k BT8nch 6th FI￿r Citygat¢ I Newcamle upon Tyn¢ NEI 4BZ THE CHARI￿$ & EISIE SYKES TRUST {CIO) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The tr￿slee3 present their repcrft with the fiThancial statements of the ¢hariry for the ye4r ended 31 D¢c¢Jnber 2024. The In￿8 hav¢ adopted the PTQ¥iSiOn5 of Accounting and Rqmjrting by Charitie5.' Stattmcnl of Recommended Practice •ppli¢able to ¢htiTities preT￿ill8 their aCc¢M￿lI in g¢¢ordAnce with the Fintincial RetAirbn8 Standard ylicable in the UK Irtd Republic of Ir¢land (FRS 102) lefftttive l JaDU8ry 20191. BACKGROUND Charlcs Sykes 8laned his ctrttr hs an office kny at th¢ w of I￿1v< becknbc a SDCfLsthI businessman in thc Wesl Riding knitting wool trade with hi8 QWIL four-8w mill * Pn"n¢evillc. Bradf(xd. H¢ n¢v¢r f(rgoi his Toots md pled8¢d thai if he everbecarnc wcalthy he wou]d help tr#)8¢ in disttess who had J>ot b¢ffl as fornmate 08 himself. He aehitved his lif¢ wnbiiion in kis eighty.sccoThl yw whcn be lautKheJ The Cbarles Sykes Trnst ott 16 December 1954. Ile thed In 1967 18ed tiiDety-four his widow Elsit wntittutyj IJJS ¢lwitJble work for whicFL shc wL% owardcd the OBE. The Tn￿ renamed followi￿ ht¥death in 1987 ID rec￿li10n ofbtt l￿]d¢￿ble Contrib￿10￿. The origiNI capitsl sum of th¢ TnLSt has been in¢r¢ased over the yeBn by sub8thnti•l donation8 from various 8ouree8 including Mr and Mrs Sykes, and $ignificatst ¢OtitribJtioDs from th¢ lat¢ William Powell •nd Miss l L M¢Dowall. The Trust is ￿]11 willing to receive dots•tioll4 from any pcThonls) who with to WPPOn s￿d works by Itiviti8 a EAuest or domting pernU￿1 c8Pit•L to ￿ active. eff￿gIve. pnxl¢ntty rw) ¢bArity. Th¢ tru# became a CJO on the IS Sepiernber 21r23. OBJEcfivLS AND A￿lTIEs ObJe¢dvu *Dd *lmi The objectives are to distriiNrte the wtrKsle of each y*8 afte¥ ¢Xpen￿ ari8in8 the *ttled endowment arnon8St r¢Bifjt¢r¢d ¢h4riti¢4 *¢ the 8bEolutc diBcrthon of the The mlin Ktivity undertAkth itt order to flie￿i£￿ for funding to £Dsure the beDefii of the dirtribuf¢d Ar¢ moximi5¢d auoss the area •ttd icrosj charithble sect¢m. Tr Tnui meawres ils p¢rfomMTKe with reference to IKbW many •ppli¢iiion8 which fit the Trust's criteria hav¢ be¢n aDd whether 8r￿ts hDve been made in lia¢ with the budget. The Trust docs not fo¢us on on¢ 8pe¢ific issue lx ¢h*rit•ble sedoT. it uch application for fiD¥Jing on its ow merits. However the￿ is a pref¢reDce for those rwjses whidl relieve the hardship of cbildttN the elder]y and those witb di$abiliti¢8 for meth'c41 rtscw¢h projects ￿ local cliaritabk projects iDvolvitig nw8Ac linked to education and a¢¢essikn'lity of thc Icu fortunlltr to musical ev￿. Achievement of these aims will maxiM￿e the iwome ¥vailabl¢ lo distnTr*ute. th￿8 a¢hieving the objectives set out in the TTU# Deed. The Trust ha5 operated in this way for y¢aT8 and wbilst regularfy rxonsidering th¢ strategy. il is still Publle bethefit The eonsideted the general guidance ￿ wblir benefft i&wed by th¢ Charity Commission in ¢8rryitig out its objectivts and a¢tivities aod in delivering publi¢ benefii to the many Ill￿1￿1}0￿$ provided with fiDancial 8nd genernl belp and are 5ati8fied that the (*J"ective$ fall uttder the Provisi￿ of the Chan"tt"e8 Act 2011. Pag¢ 3 THE cHAR￿s & EISIE SYKLS TRUST (CIO) TRUSTEES. REPORT FOR THE YEAR EIYDED 31 DECEMBER 2•24 ACHIEVEMENTS AND PERFORMANCE Every year th¢ Tn￿t re¢¢ives o)any nxqe 41plic•tiotis foT frorn worthy cawes than it could possibly 5ati&fy. The ¢ru5ttts aim to review all App]ic8ti0tts which fit the rcquirtments of the Tnut. in order d¢t¢m)tne those most in t)e¢d of ￿ts. A is set each year by th¢ tr¢aswu thking into accoutti the Teserve Tequiretnents of the Trust. Thc budgei is ayeed by the Tn￿te￿, who the￿ aim to merf thatbud8et whth wnt ttthking. During th¢ yw 436 12023.. 402) •ppli¢atiths were tte¢ived. Of thex. 23 (2023.. 57) did rn¢d th¢ Tw$t'$ TequiT¢ments. The most frequent re8wns for this wcre.. accounts w¢rc not proTrided; the applicant had no YorkGhiT¢, OT Diedicai li))k,. the relevatti 8ppIic8tion fonn (aY8ilablt at WTllV.C w•s Tr)t ¢ompleted' or. the application was for a buildin8 tDaint¢Dan¢¢ pmjecl. 413 (2023: 345) 4plicatiotis wert wraised by the trusteei in the year. being l(W o(¢lw'bk •pplK•tsoms. The trusttts ?im to wnlinu¢ ro a8K88 0114ylic4tioM whieh fit the wuiromL¥ts of th¢ Trult and to make 8rBnts in ITD¢ with cach committ¢¢'s budgeL For ￿rther detsii on thc achicvcmcDts of th¢ Iw 8T2nts m•d¢ thwing the ye8T. the tto* fol]owiti8 the Irusi¢e8 report di5ciosc5 8rants of £5.000 and over. An thAlysis Of th¢ 8r•nl3 b¢￿ell the various utewi¢8 of Ch￿ltieS durirtB the year endtsj 31 December 2024 i¥n be in no* 5 of the ac¢oun Inv¢8tsDMt poU¢y and performinee A6 a minimwn, the investmcnt Subcommittee with the invcJknMi •dvig)rJ on 8 quartwly b•si$ ¢0 ¢n8uTe the portfoliu is kepi in line wilh the Trust'5 investment p)licy. The investment poii¢y of the Tnwt is the enb￿cement and the Pre*￿10￿ of the real ￿lue of the t￿1￿1 Ind ineome of ih¢ Trujt by investment in a w¢ll4th"versified ponfolio of bigh quality a55ets. ID pw5uiI of this p)licy the rnRjority of the invesknent is in ¢quitie& 4pproximittly hlf of wbi¢b are UK equiti¢s. Th¢ p(ofolio m•nd•¢c is for 4 lon8-t¢rn] diKr¢tion4ry Portfolio aiming ¢0 ￿h1¢ye i rniXDJre of capithl and income Th¢ inveth)¢nt advisorA of the trusl t]￿SIfy the ￿trollO held gs having * 'diversificd growth, risk profile. which Airn8 for lon8-tern) appr¢¢iation ond h99 high volaiilily. This 1$ rnan￿ io * cu5tomiJcd bcnchmth and there are minor t¢Styi¢tiOn8 plaud on the invwunen¢s whi¢h con be hel(L which are reviewed re8ularty by the investnxnt $ub•¢ommiltee. Fitwicia] derivalivw u¢ a¥ wh¢n the aw￿dian tnw*¢ thii ne¢¢89￿. UillAlly thi8 18 ty maM8e tsrei8n Tcllcy risk OD inveknt I￿Orne. The investsJxDts at the y¢8T-eDd Ire shown ￿ their value5. Thue iDveBtsllents and the liquid fundB totalled £19.902,149 gt 31 December 2024 ¢ompwtd with £18.355.382 it 31 De¢embEr 2023. ￿ Incre￿ of 8.4%. Th¢ r¢v41u4tion ofthe illvesllnents held 8t year4nd Creti￿ i of £1.542.422. The Tmst aims to Éiin a Teturn ￿ its portfolio which ig hither thon the ¢ustomi#ed lyenchm4Tk. Tr one yeaT ben¢hn)8t* for thi$ year was 9.VA (2023.. 9.8QA) and the rcturn xhieved WLS l 1.8Y• (2023.. 7.Vhl. Over 8 long¢rt¢mi of 5 years the return acbievcd iMI 5.4% compued ts 8 b¢D¢hzD8rk of 5.6%. The trus¢¢u tem•iD sati8fied with the portfolio's perfomwKe. Durin8 the y¢ar investDYnt in¢onK was £711.419, ￿01¢h by 10.1% from last year {2023: £646,406). The capital vllluc of thc fimd £19,886,473 (2023: £18,338,161). The truite¢8 reviewed th¢ Tn*'s po$iiioth and the wthtiai to change 1DVfS￿I durin8 thc ye￿. but Temain satisfied with the s¢rvi¢¢ re¢eived ftom the cutrent wlviwrs bE]ieve their fee le%%li are in line with Dwket condition5 and 50 no w45 madE. Poge 4 CHARLES & EtSlE SYKFS TRUST (CIO) TRUSTELS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2ty24 ACHIEVEMETh AND PERFORMAFICE GILINTS PAYABLE OF £SIMKI AND OVER 2024 21)23 Bridford Cujtll￿ Company lJmlt*4 Br•dford A £250.000 (total) donAtion was siven io fvnd eDga8awit tsk￿lef days and the ueation and produ￿10￿ of fTVC gLliTrity packs, alongside the delivery of the Slam Poety projccL Additi'onally. th¢ d(￿￿10n was to fulld 4 18-month pi8¢ements fLY youn8 people through the yo￿¥ cre•tives apprentt"ceship pro8AmtDe. The doDations ¥r¢ given 11 £125.(KM) • time. second £125.OC4) donalion has yet lo be wd bui h&* bttn providcd for ID the 2024 ¥¢ounts beuus¢ in OTder w Ytt¢ive the se¢(snd donati￿ Bradford Culrure cornpany were r•wired w meth a sth of mile8t(w. Th¢ Inths ar 31st D¢c¢mb¢r 2024 ate ¢ertaiD thcsc milutonc8 will be nxt. 250.LKKJ Marllm ChUdreth'# Ho*l¢& W¢th¢rby A £IW.(W donation toward5 upgroding fa¢ili¢ie5 ￿ evcn ihou8b only built in 1986 f￿llitieS Are datoj and Dot ro date with mt*Jern requirements nor Jrr IIKY w economical as they ¢ould be. 100,((KJ Yorkshlrn Cimter R¢x•reK Himiite A £60.(X)O dO￿lon w4$ ￿'fted iowaTth the life years 8Aine4 ￿￿je£l whi¢b will hopefully idenlify ¢￿￿tr &fftetin8 youn8er p¢(ol¢. Cl•r• H*rr4*t¢ Towards 8 DCW LNC rnactrLine to ¢n•ble the of their MDF bl•nks which uc sold to indivi(hwl ¢ompaniu. The micbw can 8¢ii¢r4t¢ £70 per hour. equLtiD8 to 4 Sirnple peybxk peritsj of 60 bwiness days, l)w will last 2(frp years. 8iving their dis•bkd workn i ch￿te to fulfil high Ioc41 dembnd for their pTodu¢e. 37,(4)O OptIm￿l Fo¥nd•¢lon UK. L••doD A £25,OIX) donation was 8iftcd towards th¢ UlJ•ine R¢lief aimed It supptsrtiti8 th08c in criJiB in UkrAiD¢ gnd nei8bb(wlliti8 countri¢s. UBS nMl¢hed thi5 don•tioD by A £25.0(K) donation 8iftA4 in Tespomt io the TuTkey & Syria Reli¢f Eanhquakt Fund. UBS nulcbed thig dolla￿ by 2￿. S0.IK Henlhavn Sodety For BIDd PeopK Kmrethornuzk To install a n¢w, long-14$1iti8 s¢a8c area for outthM)r perfurn￿ A 20.000 St P¢t¢rfi chWe￿ Harroyts Thi$ is a confirmed obliRation to ¢ll5we tbe benefici￿leS ofHrya Ooodsamaritan Fund continu¢ to receive grants. The H#nog*te GLKJd Switsn tr*n5fcrrrd the capital in to the ChaTles and Elsie Sykes Tr￿51 in 2(K)5. 12.IbX> Bradford Br*dtord To contribule to cote costs for their work with the borneless in Bradford 10.ooo The Ell* Fo•ndlitlo￿ Sl•lthv#lte TowaTds the Livewell Ptoje¢t whictl offa5 mect44>5 activib&5 f4x YOUD8 adults with ca￿er, Jxovidins thcm ￿ the q>porturrity to Jnt pem their oyrfn 4g¢ with similar experitoces ctUi08 knsiin& joyr memori¢8 •nd friendship. Thi$ Èrani covers a full year ofarhviti¢& 8,500 Pase 5 THE CHARLES & EtSlE SYKFS TRUST {CIO) TRUSTEES, REPORT FOR THE YEAR EIDED 31 DECEMBER 2•24 ACHIEVEMENTS AND PERFORMANCE Community Furnitsre Store (York) IAd. Y•rk Towards their s¢rvi¢e of ￿fiItb￿hin8, PToviding devitts and enhanc￿8 the skills of ihose in nttl to htlp tackle scKi818nd en¥tromnento1 i$8ues simultsneously. 8,￿0 St Mlcbael's H•￿ICe. Hxrryte In mernory of our iat¢ trusoe. Dr M¢Evoy* who wu • patron of St Mi¢hael's Hospi¢e and the cb£ritsble work they ￿fOrn). 10,0 Alph* Houx c￿der01￿ H*lif*x Towards providillg a residential. holistical, rehabtliwiv¢ sttvice to ¢n)PDWCF offendcr5 with tDultspl& compl¢x pft)blaM to re4 offtndin8. Althelm&i Rettarek UK, C•mbrtd Towards runnin8 cots at the ¢lMrity. An•h ProJeeL Br*dford Towards re-CStablishin8 an'emergency cri8is fiJrx4' whi¢h will ￿8b]e thcm to continue offerin8 Vital 3￿13t2n¢¢ to 7thble women knd 8irly ewin8 donhestic 5.000 Affjlm*l Froe Rovar¢b UK L•pd•Tr Tow8rd8 4 bre￿ re*aTch at ￿ Univ¢r8ity of Sheffiel AithmA UK ADd Brlthh FOuttd*dO￿ IAbDdoM Towuds CtsS¢s ￿ the ¢iJariry. s.o Ben'i Ctttlrt For Vulnerabk P¢gpl¢, Sh¢ffleld Towllrds corc fundin8 to keep th¢ supw¥n pro8nmmes runniD8 r vulneTable adub Jtru881in8 Twith 8ub#an¢e misu*- thy ccntrc and outreach pro8romnK. Brhlih Hurt Fo•nda¢lofy IAbttdtsn F￿)ding for Tesear¢h on the HcBrt. Crobm'i & C•lld* Herrf•rthhlrt Rescltch will crcatc an Al progr￿ Ihat identifies pre taKerow and cartc¢rous chth8es with the thki li will improve the di*gtio#ii of btsw¢l cancer in pwle with Crohn'5 or Colitis. De*Mblllty. Bath TowaTds ￿￿￿1￿8 COSt$ at the ¢hority. H*rroyJte Illtern*lloAIl FI￿¥*L H•rr•gate To provide A¢cess to o ronge of Arts. ￿lI￿rnI tduc4ti(ml •ciivitic5 for children And young adults from deprived ar￿ wlK> would othen￿￿ not be abl¢ to particip4t¢. JPC Cotnrnumtty Firm. middle￿rOUgh Towards pmviding equitrfnent for an offi¢¢. hvo ¢la55foDms and an IT suitc ollowing them to deliver their b￿p0k¢ cow6¢ for young &dults with spe¢joli￿ needs. 5,0 Kidney Re￿are￿ UK Pettrb•rwgh TowaTd% nmning ￿$ts at the ¢*￿]fy. Pa8e 6 THE CHARLES & ELSIE SYKES TRUST (CIO) TRUSTEES, REPORT FOR THE YEAR ￿}￿ED 31 DECKMBER 2024 ACHIEVEMENTS AND PERFoILm￿cE l*eds chri￿lAn Trllit, Toward5 subsidised coun5c]li￿ to clients who are stswgglin8 financially to aCC￿S Cou￿¢￿11n6 at a low eosL Mary#r￿ C*rey Fo¥Dd*¢io# Ltd. Shlpky Towards their foul w¢¢k progrnmmc teaching young offctsders to Tethre bik¢8. M¥mi ID Sheffield Toward5 fundin8 one of the ¢•seworkers th stLie cancer. S,O(K) Sheffleld Chtsrthm Coun¢ll For C•rdmuilty C*rt Sheflleld Toward$ smooth trAll8POrt for ]K)8pital and si Lukes HospirdCWiCllts for pallialivc and ¢Dd of lif¢ patI¢ll￿ removiD8 the Wai￿0￿ or ule of Ambulance& Sb¢ffl¢ld C*rer4 Sbeflltld TowATdJ 12 montkn, worth of 8Toup I￿1VIll￿ for the yo￿8 caT¢r& Sptn¢er D*yra** men1•￿¢￿ Brls¢ol Research io pottntially dcvcky a rapid di*￿1¢ lest to d¢tea a r•4e of bactetial disc￿ including mellin￿liS and sepsi3. St*ndlng Blrmkn8h*m Towards the employment of a 8 Lcc&% Ta]ent Scoui. tsking ￿ to16 individuals slc¢pm8 Tough in Lted% off th¢ stre¢ts ittto ￿￿>11￿￿tIon ID 2024. St LTke'i Hts￿kt. Sbtllield Toward5 the purchasc of a Ceilin8 hoist sy￿¢￿ for thcir in patiem ¢¢ntrt 4 t(Aal cost £27.178. Th¢ Cure Parklttstsn's Trust, R¢adlDE Towards nrJDiD8 C4)sts ai the Charity. Page 7 THE CHARLLS & ELSIE SYKES TrUST (CIO) TRUSTEES, REPORT FOR THE YEAR EI¥DED 31 DFLEMBER 2•24 ACHIEVEMENTS AND PERFORMANCE Tbe Instltute of Canttr Th¢r•p¢ulk4 Uttivtnity ofBr*dford Is ai th¢ forefTonr of adv￿￿1￿£ undcr5thndin¥ and abiliry to in the UK & around the world. Ckne of th¢ f¢w ¢¢ntres worldwide thit I￿$ thc ¢apabilities ￿ thke new aDti tr¢4th]ents all the way from to Clinic. L4£kJ a piece of equIPD￿ni that ￿ have idcntified al￿ will make them morc sclf Tcliant. Cost £72,450 ne•J £I8.7(￿j askcd for£S,CW. The Klrkw•od Ho￿let The No Way Trn# Liwit¢d, To fimd 10 Crim¢ S4f¢ty Awrn Days in 50 Yorknhire Sxonthy S¢hoo]s din￿d al yowjg pe(ole aged 12-15. 5,CQO Tke PSP Mlh•ll Krym To 5upporf thc devclopment of bett¢r and i¥r8eied trtatsttents f Pro8ressiv¢ SuprnDucl¢&r P￿ry •nd Cort1¢ob￿￿ Dc8(wrnlion. The Soel*l Mgblllty Fou¥dxtlo•, ￿•dO Towards The A￿Inn8 ProfessioNls Pro8Tamme •odw¢￿ YozkshiTt supporting 90 disadvattiag￿ youn% pcolc aB¢d 1&25 in L¢eth •nd •¢M8 W¢s1 Yorkshir¢. The Wreo Blkery CIO, iudi Towards a 6 monihs skiil.bosed tyailliDg EK08r￿￿ to providefive rn(w¢ multi-di58dvgnl88ed wonKn Ipoverry. *Miction.rnentil health isxK81 with 8kilts and opporwnitses foremploymthi throu&h th¢ir ¢•f¢ ￿ L4¢ds. 10, urolo￿ FoyDdItk)￿ LA)ttdo Towards research on bladdcr can¢tt. Vtrwi Arthrlth. Chelterlleld Tow￿d$ rumiin8 cwl• ot th¢ Ch￿)￿. YMCA Rlpon, To tontinue to the ch￿lty *ttd help thr 1￿melesS ID Rip(m. s.o Page 8 THE CHARLLS & EISIE SYKES TRUST {CIO) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW FiDan£lal poglllon The tnwees Consider that the Tn￿t h85 had h ￿￿¢$$fill year. The V1h￿ of the invesunent Emirtfojio Jnuwed by 8.4%, which shows that th¢ rn&rk¢ts continued w show 8 high degrte of volatility during the yew. Overnll the net Tcturn on the inv¢s¢met)i portfolio w8$ 11.8Y• which was hi8h¢r the benchmuk 9.￿. The unre5trictcd fund ryrted an ovcr811 deficii of £326,807. whirh was I￿gelY due to the in¢r¢ased Bmounl of donations wvtn out during the year. Exceplional gTont$ fOllSi5ted of a £125.(th donation to the Bradford Culture Company Lirnii￿ GTznts were a180 D￿de ￿ Mtirtim House Cthildren¥ HoBPi¢¢ for £I(M).0￿. YoTk$hire Cancer ReRArcb for £60,(W. C]4TO Ente￿18¢8 for £37.(Kl) attd Hensbaws Society for Blind Pwle for £20.tKIO. PrDvi511) for a seco￿1 doDatioD to Br*lford Culttwe ComP￿Y Lirnitoj for £]25,0￿ St Pettro Church for £12.£￿ have also been Tefl¢¢i¢d in thue ac¢outtts ¥ttd withm 6 of these aecoutt￿. Th¢ tntstees consider it is highly prob8bl¢ that Ihe5¢ Ch￿itte$ will rtttt the asrccd taTgcts let by th¢m •Dd therefore will be awarded thc5C 8rsll￿. Tothl 8rmts awarded dwing th¢ y¢•r was £966,075 (2023.. £407.1(￿1) whi¢h w45 a 237.3% increue CANnpar>J to the previous year. how¢ver in line witb expectstiOM ts the 2024 8rants were iignifi¢mily higkn thm usual year4 as the tru5te¢s I1¢¢id￿ lo tsk¢ advants8e of the bellthy ￿s¢￿v¢s. The wie¢s ￿ve d￿idCd fot 2025 to rnainlain the tsme budgm a$ 2024. Gr￿￿¥ h•v¢ beell Riven w a wide r4D8t of th•Titi￿. ￿￿MIna￿lY iti the Yokn aTr. OT to nNtionAI Ch￿'t1¢S for 8 Yothire, re4uiftmcnL There are several donation8 made which arc to cbaritses domiciled in other are4s of the unty, these tend to be specialist medi￿[ oryniuiiom &8 thc tsus*eB are co8niwii of th¢ facr thwi the besi T￿earCh 1$ not ntt¢s￿n]Y b¢in8 ¢ondwted in Yorkshire. Th¢ inveJ¢ment incom¢ for the year in¢reAfed by 10.1% ￿ £711.419 (202J.. £646.406) which well alM)v¢ the 2024 forKast¢d income figurt 0(£654.(K￿1. Th¢ tsuste¢s foTK•ffi tha¢ the exp￿1 th¢ itieom¢ for 2025 to b¢ £710.OiKI. The govern￿tt e05ts costs in¢re•x by 7.VA 10 £72.15112023: £66,877) •nd w¢r¢ Jll i) line with budgeted amounts. Rmervtt pollry The tru5le¢s lo nuintain at In *lequth level kn provide suITicien¢ working c¥itsl io f￿d th¢ charity'8 aclivitics. Th¢ trust¢¢8 ¢oniinue ty coniider th•t a TC5erYt of unTeth*d sh￿Id be miititam¢d ai • l¢v¢l approxirnating to one half of a y&$ net income excludin8 WMI the fil￿tte1￿ budBcts are dravrn lo r¢fl¢rt thi& Th¢ oize of th¢ r¢8erve is kept under eottstant review. Th¢ reserve ex1￿% be¢4USe: a) oc¢asioAM] Applicatiol￿ We Tettived merits"n8 unusuaity I￿t ai wh•t wuld be di￿dY￿￿8￿￿ times. bl trusi inc¢)rnc does not accnie on ￿ even ¢) each charity on the anTh￿ list txped a crntinuawt of their gr￿t if thy comply v4ith th¢ Tnut rnles. The iotal pennan¢Di ￿ unre#ffi¢t¢d tt5¢fft1 hcid at thc yeu ¢Dd £20257J53 of whicb £19,886.473 fonns the Th¢r¢ was a 46.8Y• dttretse in the unrestricted re%TV¢S to £370,880 (2023.. £697.6871. This puts uDr¢stricted reserves 8t 52/0 (2023.. 121%) a5 a percentage of unrestricted itKorne exclth8 payable. The decrease in TeBerves WAS due io an incre￿¢ iti ex¢eptiunil do￿tt.0￿ TDad¢ during the ye￿. li Should alw bt noted that the Trn$t has provided for £137.IIXI dLMhatioM which have yd been paid bui which 8r¢ Committ￿ to be 8iveD ID uEwning y¢4T* If the effed of the thDatIo￿ provida for 18 remov& the re6er4u as a percentage of incom¢ in 2024 would be 71%. Goln¥ e•Dcern The financial stht¢m¢nts h8v¢ been weptred OD a BoiD8 coJKern basis. Th¢r¢ ￿¢ no Tti8￿181 UD¢¢rtsitities abO￿t the Trnsvs ability to contioue for thr fott%¢4blc fithue. Page 9 THE CHARIIS & EISIE SYKES TRUST (CIO) TRUSTEES, REPORT FOR ThE YEAR ENDED 31 DECEMBER 2•24 STRUCTURE, GOVERNANCE AND MANAGE￿I£￿T Covernln% doetsmeDt The Charles and Elsi¢ Sykes Tnut is i clwithk Ory￿1$￿10￿. 8overncd by 8 conslitution dat¢d IS s￿l¢mber202J. R¢strnelurt to Cbaritabk Intorporatod OryAmts*thD (CIO) (In the 9 January 2024 The Charity CommiL8iOn 4yrov¢d the ronvcr5ion lo a new chaTitabk incorporated owisation (CIO). The Charles and Elsie Syk¢s Tru$1 (¢h4Tity no. 206926) would mcr8e with The Cbarlcs and Elsie Sykes Trust (charity no. 12047281 with all the 8LliYitie5. a55cts 4nd liabilitics tranrfcrred to the new charity. The tn￿ would continue io cw out its charitsble a¢tt¥ities under the Dew CIO (clwiry no. 1204728). Reernltmtht ittd ippoltttment of new trnle The Trust is run by the Board of who m¢d [¢nod￿allY. do not tective remunentiwL nor do they vrmalty Seek TEiMbursem￿1 of expuw. The day io d•y financitil and XCTrlBrial maltcrs arc dult with by ¢mplgyrxJ of DSC Chart¢red A¢¢ountsnts and LCF Law who reFM)rt to the tr£&￿￿Cr and ￿cretary respediv¢ly. The appointsnent of new 11 8overned by th¢ TTYSt Iked. The Chair 1$ oppoititrd for a prri¢yl of 5 Ye￿ Trusteey Ire wjinicd for a period of 3 ye4Ts. The bo•rd 1$ authoriKd to 4wint new tnutees to fill any vaeaneies. T￿￿et1 *T¢ ¢li8ibl¢ for r￿kn10 If thEre is a requirement for ¢wst¢es, thes¢ we identified ￿poIn￿a by the r¢Juai￿& In]51¢¢5. Th¢ Chaimwi is res￿nSIble for initjAung the induction of 4ny new trus*c. wkn'ch involves awirenu8 of a truste¢'s r¢gponsibiliti¢s, the Bov¢rning documenL Athnittistrative proc¢dures thc historical and philosophical ￿ppr￿ch of the Trust. A t)ew truste¢ rc¢civ¢s copies of the Previo￿ y&s annual rewi and aKounts. Mom of the exisiin8 trustees have brld offKc for rnore than one temi. Ongoin8 trainin8 is wovided 4$ nxegsary, in¢1￿11n8 4t*ndAn¢e at relev&ni Couned. Or¥**lJ*tloD41 strurt•r¢ Fees aTe paid to the ¢ust￿lIn trustee and kn the officexs of the T￿￿1 in the gov¢rnAn¢e costs and inveslmenl Mr N¢il Shgw acts as th¢ Tnyts yetretsry is a partner in LCF law. who as 501i¢iwrs for the Trusi. Mr John Gatbutt acts as treuurer and is a direetL* ai DSC Chartued A¢¢Ounw￿l WI￿ a¢£VUn¢ants attd advisors for the TruBL Pa8e 10 THE CHARIIS & EISIE SYKES TRUST (CIO) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2•24 STRUCTURE, GOVERNANCE AND MANAGEMENT Ded$loo m*king Invt8tm¢nl Poive The Trust deed auth0ri9es the trus*¢s to m•kc and IKild investments usinÈ the 8¢Dml fimdj of the TrpJ5t. The Inv¢sb)yent Subcommittee of the TnL8t meet with iov¢stsneM tidvisors to consid¢r the invMm¢nts thrnft¢r TCPOrt lo thc ncxl mtttin8 of tht Board of TAk￿¢t5. Gr*nt Mlklmg Polky Th¢ ty$t¢es have Tefrrred to the guidatiet C4*tsin¢d ID the Ctrwity coMD)i￿on 8enernl guidtitiet ott public benefft when reviewing the aitLs and objectives s￿1 in plaDnw futtue Ictivities. In PITts￿ltr. the trust¢¢s eonsider how p18t)nel adiviiies will ¢ontribut¢ to th¢ ain)8 and Ob￿lY¢S seL All applications received must have a ba]an¢¢ She￿ and the wbcommittK TKeiving ih¢8e jppliutions will then scrulini8c the I￿OnnatiOn to far bc L4ccrtaine4 that any monie$ given will be used for public benefit to improve the lives of the brncficiarics of the chuitieA. The Tn￿ receiv¢N and ¢(Jn¥id¢rs dire£1 •pplicatioN for as81#￿. Preftrence ij given to gppli¢alions from Yorkshire. applicaiion$ T¢Kived from outstde the Tewon we uniike]y to be suweMfuL w •re tho* which are tt¢eived froD) inth'viduals or without the most T¢¢eni examin￿?￿li￿d ac¢owhts. The Tn¥t •lJo m•kes Annual io i numbcr of reBistffed clwiti¢s (upon Tryoduetiot) of s•tisficiory i¢¢ounts} wh¢r¢ re8uIAr 8UpF￿1 ij perceived to be dutrnble and proper. Thi$ is nol 8uarantced and 18 subject lo rcvicw. The tn￿te¢S yd win noo i of tlyM¢ ¢hwi¢ie8 QD the '•nnuif list failcd to proTride proper infornution Bbout their ac¢ounts. Th¢ try$t¢¢J meet pcnfylically in gJb¢orri￿ th¢ as lo.. Grants th•1 are for owin8 pr08T￿￿n# re￿1¢4 over 4 oumber of y¢m, PTovithd Mtirf•¢iory a¢￿￿18 are ff¢eiv¢d each Y￿r. Gmi8 healthw¢ n￿dI¢￿ re%wdL Grants thot aTe for oneryofftbAri18bie projects. 4} arAni$ ore for amoutlts usually well in ex￿$ of the Mrrnol kvel of 8ivin8 thd trt often ¥soci#*d with a ipetial anoiv¢rnary of the Sykes Trust. Drfail¢d ￿•S1d￿tion 1$ given to application on th¢ basis of.. infomutson providcd: additiQll31 iDfornutt"on the se¢ as r(Yrn an opinion," visits follow up r¢port¥. Pagell THE CHARLES & ELSIE SYKLS TRusr (cto) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 21124 srRUcTu￿ GOVERNANCE AND MANAGEM luik th*DAgement The IT￿9tee5 have • dury io idetitify knd rcvicw tbc risks to which the chffj is exposed and to eD5UTe appropriate ntro]s are in place to provide re&4onable WUTanc¢ ogainm fraud and crrDr. tm5tCC8 have examined tF¢ major strategic. bjsineu *KI opeTthnal risks whi¢h the Tru￿ face5 and have adoptrd a fom81 risk rnana8em¢ni policy. A r¢view of the Tisk as5C$5nThi is undertaken aanually. Whibt th¢ tru8t¢es make witsble e4uiri￿ into the adivi¢1￿ of ¢h•ritie8 when decidin8 whtTe to Dyke ￿. thry t&k¢ DO part ill day to day rwmiDg of those charitiu. OD the rare (*¢￿10￿s WIME a Irust¢¢ is p¢r8on4lly involycd with a chority which is • rc¢ipi¢DI of a 8r2D4 th¢ trust¢e declrn their iDler￿1 in a 8tneTrl me¢tiD8. The risks Telating lo the a58ets ofthe trust are mitigated by havin8 a wide spread of inv¢stm¢nts; profeuional advicc on Ihe ehoice of investments is given by UBS wljo thre also th¢ ￿￿0dlan tn￿et. Thr tnJ51ccs art aw&rc thit the TnJAt Ll holding two 8e¢uritie6 which represent moT¢ than 5% of thc value Ofinve￿￿tr held. ThN¢ ar¢ d¢t•iled 05 follows: 11 UBS lttvestsncnt Funth ICVC S&P 500 Index 8¢curity rtpresents 6.vh of th¢ v￿ye of inv¢8tsnents held. Note th*t tbi5 a55el is an index tracking fi)nd wbi¢h follows thc Perfont￿n￿ of S(X) ￿￿Anil￿ in divme math 80 th¢ trusiees judge the ￿trIAl¢ll with th¢ bolditig ￿ be *ctptable. 2> V•nguard Funds Pl¢ xawity 6.8% of the v3h￿ ofinv¢stm¢nts heid The llwsts¢8iud8e the risk I8￿¢11ted with the holding to be acceptable. STATEMENT OF TRusfELS' RLSPONSIBILITIES Th¢ t￿￿c￿ are reS￿nSIble for pr¢parin8 the Trnsiett. thc financial 61&tements in 4c¢ordan¢e wilh Ipplicable lèw gnd United KJn8dom A¢couttiiD8 St•Ddarth (Unit¢d Kin8ik)m G¢Derally A¢¢epied Accountsng Prnrfice) includin8 FinwKial R¢p(rlinB sI￿d￿rd 102 Tr Fin*ntiai Rewrnng Stand￿￿ 4yh¢hble in tbe UK Republic ol Ir¢l•nd'. Charity IAW r¢¥wir¢s the ¢Ns*es io preplre finan¢ial for each fin8ncia] Y￿r. Undtr th#1 liw. the trujlees h8ve ele¢t¢d to prep*r¢ thr fuwjcial ststcrnents in accordanc¢ with Unite41 Kingdom G¢D¢rally A￿￿ted AKounlin PrA¢tice {Urtiied Kingdom Accountin8 Stsndarth oFyliable law). Under ¢hAriry law th¢ trust￿ rnuA not wve the finaoeiil ststements unltjs are satisfied that they wv¢ 8 Irne Ind fair view of the stsle of affairs of eharity athd g(th¢ in¢omin8 r￿UrceS atsd appliution of re8owees. ineludin8 the incom¢ and expendrtur¢. of the ¢tr￿lty for p¢rsTrJ. ID pIewi￿ ttMe f￿￿1¢111 8tsiernents. th¢ tsNgtees are 8¢lec18uithbk a¢countinK policie5 Ind then app]y th¢m ￿n91$￿￿, obg¢rv¢ Ihe methods and prin¢iplts kn the Ch8riu¢s SORP; makeiudgements and e5tLtDates thai 81¢ ￿•Sonable and 8t•te wh¢ther applicablc xcountin8 Stand8rds b•ve been followed, *thjeet to mitai81 departu￿ diKlosed ond explhilled in the fllLanci•l statcrncnts: prewe tbe financial staternents on the BOin8 b•sis unless it 1$ inapwopTi•te to preJwn¢ that th¢ Charity will The tnLStees are responsjble for kcLi>ing propcr accountin8 records which dis¢bMe with reason￿le a¢cuMcy at any tirne th¢ finan¢ial position of the charity and to enabk thern io ensure th¢ slatrmrnts cornply with the Charities Act 2011 Th¢ Charity {A￿o￿nts and Re[￿) Re￿1•110￿$ 2008. They also Ttsponsiblc for safeguarding the assets of th¢ chgrity and hthre for thkiDg Tuw•ble *ps for the prevention 8Dd ￿eCtIon of fraud and other irr¢gulariti¢5. PaBe 12 THE CHARLES & ELSIE SYKFS TRUST (CIO) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Approved by order of the iK*rd of trustres on 27 Qkthbes2025 sitned on its i￿alf by. Mr D S Mead {Cbairn)an)- Tn Page 13 REPORT OF THE 1￿DEPEL￿ENr AUDITORS TO THE TRUSTEES OF THE CHARLLS & ELSIE SYK￿ TRUST (CIO) Oplnlo We hav¢ audited the financ￿ yat¢m¢Dts of The Charfm & Ebi¢ Sykes Tn￿1 (CIO) {the'ch*rity) for the year ettd 31 Dec¢n)t*r 2024 whith ¢ompris¢ the Stotemeni of Financi81 Activities. the Ststcment of Financial Positio[4 the Statsment of C•sh Flows note5 lo the financ￿ s¢atCTn¢nt& ]￿lUdIng a surnmary of SiBnÉficaDt ￿oUntin8 policies. The fit)ancial reponing fr￿￿¢￿ has been applied in their prepar8tioD is applicAble law aod United Kin8dom A￿OUntIng Stsndards (United Kitigdom GeDernlty AccepiAI A¢¢¢)un¢mg Practice), In¢I￿ling Fintincial Reporimg Standard 102 Tr Fin1￿181 Reporting Sthnd8Td applicabk IA the UK and Republic of Ir¢I￿d.. In our opillion the finatt¢i•l $tstrnknits: 8ive 4 tnL¢ aDd fair vi¢w of thc stste of the chDriWs affair5 u at 31 Dcccmber 2024 and of its incomin8 resource8 and appliGation of rc50UTCeS. foT the yur thcn cnduL' . have been propttiy rrtep*r*l in xciJtdan¢¢ ullit￿ Kingdom GeJKr•lly Acc¢pta Accounting ProdiC¢, includiD8 Financiwl KeFrfbrtiDg StaNJard 102 Tr Finallci41 Reportll)g Standard applicable in the UK and Republic of . have been Prry•r￿ in •¢o¥d￿ with the Ttquwements of the Cblritits Act 2011. B•ilJ for oplnlon Wc conduthcd our audii iti aceordance with International Standard6 on Auditio8 IUK) (ISAS IUKI) 8ppli¢able law. Our responsibilitlC5 Under tho4e standards 8r¢ fith descrit*d iti the Audiiors. ttsp)nEibiliti# for thc iudit of the fjnaDcial $tat¢m¢nt$ ￿110￿ of our rewL W¢ indepenthi of the ¢h*ity in a¢eord•ncc with the ethica] r¢quirements th8t ore Telev￿1 to our d￿j1¢ of the finhncial the UL incbJdiD8 the FRC'S Eibical Standtrd. aDd we hsve fulfilled our other ethiul responsibiliiies iti X¢OTdthee with thege reqpJir¢m¢Dts. We b¢li¢ve thai the •udit evidence we have obthined is ￿[r￿je￿i afvd ptovi& i kni5 for our oplliion. rel*tiA¥ to 8•IMi t••eer• In auditln8 the financial statements. we have conclud¢d th•t th¢ tnJoieH' of the goitig concern basis (170518) (68.355) NET CURRENT ASSETS 370 880 15 676) 680 466 TOTAI, ASSF,TS LESS CURRENT 370,880 19,886,473 20.257,353 19,03J,848 NET ASSETS 370 880 19 886 473 20 19 035 848 FUNDS Uorestrieted furmb: Genetal Fund Endowmeni fill 14 370.880 19886473 697.687 18 338 161 20 57 L53 19 035 848 The fjnancial statements were apwoved by the Bohyd of TnL%te&8 and ￿t￿oriStd for iwie on 27 (ktobcr 2025 and were signed on its bdjalf by.. MT D S Mead (Chauman). Tn Page 19 THE CHARLLS & EISIE SYK&S TRusr (cio) STATEMETr4T OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash llowi frnm wr*ling •¢dvltleJ Cash generaied from opeNions 1936.544 1644.956 Nei CLth used in oper81iog •ciivities 1936 544 C*ah flo￿ *¢tlvhl Pur¢hase of fLxeAI asS¢t investDxn¢B Salc of fixed a8B¢t i1)vern Interest re￿iVed Dilrydends rwAiwed 14.566.804) 4,562.459 35.055 (4.786,266) 4.837.652 35.249 611156 Net casb provid¢d by *tiviti¢S 707 074 Ch*Thgt In ¢•ih Ind equ1￿￿￿1• I th¢ reportS*i perlod Cash and equlv*lthti at th betlrtttlni of the reportlDg perlod (229.470) 52,835 748810 695 975 Ind ¢•ib equlvAlt•ts at the end or the reportlng perlod 748 810 Ptt8e 20 THE CItARLES & ELSIE SYKK8 TRUST (CIO) NOTES TO THE STATEME1￿ OF CASH FIAIWS FOR THE YEAR ￿ThDED 31 DECEMBER 2•24 RECONCILIATION OF NET INCOME TO NET CASH FU)W FROM OPERATING AcrtVlTIL8 2024 2023 Nt* Income for the reporthl perlod {M per the St*ttmeAt Of Fin￿¢￿1 A¢bvides) AdJustrntDts for: Gain ¢)n in¥￿trne￿ts Interest rectivr DiYidend$ re¢eivtd lu￿¢8$￿(de¢re8$C) in WiSiOD Increase in deknorx 1221,505 918,865 (1,542,422) (35,055) (676.364) 1810,799> {35.2491 1611.156) 9,572 16,371) 102 163 116 1781 Nrt £uh In wr*d 1936 544 ANALYSIS OF CIIANGF3 IN NET FUNDS Atl.1.24 Cash flow Ai31.1224 Net C4th it bank 748.810 748810 229.470 T•tsl 748810 229 470 ThE not¢8 fonn pan of these fllwicial ststaneDts Pag¢ 21 THE CHARL￿ & EISIE SYKES TRUST {CIO} NOTES TO THE Fll¥ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POIJCIFS B*8ts of pnpArl•g th¢ litt**ei￿ st#frrneDts The finan¢i41 stsrements of thc charity. which 1$ a ￿bE1C ben¢fii entity Under FRS 102. have been prepared accordance with the Chotities SORP IFRS 1021 A¢countin¥ and Repothng by Ch*ritics.' Ststement of Recommended Practi¢e &pp]iabk kn chariti¢s preparing their xcounts in rKCOTdar￿C with the Financial Reportin8 Standard appli¢able in the UK and Republic of Irela￿1 (FRS 102) (effective l January 2019),, Financial Rq￿ing StsThJard 102 The Financi￿ Reportin8 Stsndwd applicable in the UK aDd Republi¢ or Ireland and the Cl&ritie5 Act 2011. Th¢ finan¢ial slat¢ments hive be¢n prtparcd wthr the hi$loTicAI cost conv¢ntioJL with the exception of inves¢meDts w￿.¢h are included at mwket val￿. as modified by th¢ reV￿￿tIO￿ of ccrtaiD asstts. Merger &towiung has been u*d to th the restructh of th¢ ¢hariry itiio * ¢b8ritable iDcofpor8ted Incorn¢ All in¢otne is reco8nised in th¢ staten￿￿t of Fina￿101 Activiiies onee the charity hog entitlement io the it 18 pyobablc that the iD¢ome will be Tcctivcd and the omouni can be mWUTed reliably. Inveotsnent iD¢orne 18 earne4J thmu#b hgldiD8 invtstsnent purrws ￿ as share8. It include$ dividends and in￿¢$L w11e￿ it is rwi prnciicable io identify Inve￿ment rnDna8eirtht costs incwr¢d within i hcrnc wirh reasoMble accu￿Y th¢ investrnemi irKorne li repffi￿ of thele c05rs, Ji Is t￿luded when the arnount ¢an be mwurtd rcliably. Intere￿ income is recosnis¢d ￿lti8 the effeciiv¢ inlerest mcihod and dividend in¢om¢ 18 r¢¢ogni*d as the clwity'$ right to T¢f¢iVC payirKm 1$ ttthblisbeiL All reali8ed 8aiw and losses on disr*)ul$. and unmlised 8ains on revaluati￿ Bre r¢tstn¢d within thc enthswmcnt fvnd. The 8ains loss¢s ￿lI1n8 on tryahutions di8p)MJs thTQU8bout the ye•r or¢ 8hown on the Styi¢m¢nt of Fitt￿¢1￿1 A¢liviti￿. The in¢om¢ arisini from th¢ ¢Trdowrneni ffijtth ia u*d to mlke ehAritable dowion4 with any ex¢¢M in the year bcin8 retained for donalions in futwe periods a8 dexribed in ihe bwte¢s' rel￿. Thc trum deed contsins no re8tri¢iion on th¢ distribution of in¢omc Bcnerntd. )lthouBh the 8ffler•lly retiin * reierve of urnul8ted iTKome. as drfailed ill ihc trustCC5' [t￿t. ExpeThdlts Liabi]itics art r¢¢o8nised a% expeDdittwc 48 soon ￿ thrx¢ 16 • leg41 or ￿n#truCtIve obligalion committing the eharity to that ¢xp¢ndintre. it is probabk that a tr•nsfer of economi¢ benefits will be r¢quired in setikmeni the arnount of the obligalion can be rne&wr¢d reliabty. EXwditu￿ is XCOUDted for 00 3n a¢¢n￿lS basis and has been ¢18$sified utthr headin8s that owegate all cost related to the ¢8ie8LYy. Where Costs ¢annoi be direct]y attnbuied io particu￿r headings they have been allocAt¢d to xtivitic5 on i ba31$ ¢onsi$tent with the use of Grgnts payable arr PQ>TtxDts mode t¢* third Parti￿ ID the fimherance of the ¢iwitsbk objectives of the Trust. IVher¢ uttconditional granty ￿ offered. this is a¢cnJed •s as the recipicllt is notsfied of the 8rant, a8 thi$ 've5 rise to a re&fjoDable expertstion that th¢ T¢cipiell¢ will Tec¢ive the 8r•nts. IVheTe Brants are conditio￿] latin8 to wfonnance then thE Vant li a¢cnKd any WLfiJlfilled CL￿dI(10n$ •r¢ outside ofthe contml of the charity. tcoverable VAT is¢h*ryul as ￿ cxpcnx 4gaiMt the activity for whith eXp￿diture •r(w. Grants otTer¢d subjccl to c¢￿ditio￿ which bBve not be¢n md ￿ the y￿r end are noted u 8 commim)ent but Thot a¢¢ru¢d a5 cxpcnditure. AllocArfon and *pportlonD)¢wl Support ¢0S15 those thai assist the work of the clwity do not ditectly Yepment ¢harilable activities. They are it￿jrrtd diTCCtIy ID SUPPOrt of eXPe￿IltUre on the Obj￿ of the ¢harity. swiport Costs cannot be dircct]y attri￿ted to particular hcadin8S tly have been allocated ￿ cost of fiumls ¢xp¢ndiwR on eharit&ble activities on i b15iS COll5iStent with use of the resourctt. Pa8¢ 22 THE CHARLFS & ELSIE SYKES TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS- eontlnwtd FOR THE YEAR ENDED 31 DECEMBER 2124 AccouNfiNG POLICIFS. e•*thi•ed Alloutlon aod Apportio•ment of ¢•sts Govern8th￿ ¢￿ts coJnpris¢ ￿)sts involving the publi¢ g¢¢ovnthbility of the Trust and its c4)mplisnce with regulatiQD aTKI gofyl PTK¢ic& Thii ineludu costs relotcd to S¢afutory audiL legal ond bookkeeping ftr$. These arc atq>ortioned ¢otirely to ex￿dit￿re on charirable grnDt makin8 a¢nvities on the h5is that thi5 15 tht area where most tru$tr¢ and otricu tirne is speni wch thii the lim¢ spent on fimdraising activiti'ts 18 ¢On8id¢r¢d ¢1> be imm&terial. T￿a￿DD The clwity is exempt frotD tsx its etrthritable ¥tivitie6. Fund UnT¢stri¢￿ fijnds CID be used JD ￿0rd￿ with the ¢l￿ritIb￿ obj¢c¢ivu at dis¢rdiott of the trustees. Pernwient Endowment Fund cat) only bc uxd for PAni¢ul•r rellrictrd PUTWXS vrithin th¢ objects of the Ch￿ry. RestrictioL8 aris¢ when %¢cified by thc donor or wlwi Thised fw p8rticular re8trict¢d pwpo8es. Fordgn ¢urread A58ets and liabilitie8 iti foreiph aUTeucie8 •re trwi8lafed IDIO ai the rates of exehknst rnlin8 ￿ the stst¢m¢nt of fuwlcial position d•t¢. Trw$•￿1om1 in forei8n aT¢ ty￿s1￿¢d into steTlin8 at th¢ rat¢ of ¢x¢hange rnling li the date of traas8ciioL Exch•w diffetenc¢8 are tsken itito ￿oun1 in arriving at the operniing rttuh. I￿V¢it￿r*tr Invtstm¢nts are re¢oBtsised iDitiilly •1 f8ir valve whtch 18 ttOEnJally the ran9Xtion price exeludin8 tr¥ntsetion co$t$. Subsequenily. thry are rneaswa •1 fair valut with clwiges Tecognised in 'net Rain$ l 0985¢s) on inv¢simett¢s' in the Stakment of Fit)anci81 Activitw if the th8r¢$ Are wblicly tr*JeAI or th¢ir f4ir value otherwise be meaJured reli•bly. Other Ttivestrnents are M¢•sU￿ ￿ ¢oM less irnpainnent. Current Aiiet inYeJthwits are sly)n *mi hi8hty liquid iDV¢JtnKnts Ire held It hir v•lu¢. The8e include c4sh on deposii and wh cquivalrnls with • MI￿rity one year. Dtbton Ac¢Ned income is trco8nued u the Tnjst be¢ots￿ ¢ntitl¢d ts ti JTXI is Mcam￿ at hir V￿ut. Cwh 4t bink In h**d at batsk End cash in h￿d includes eath aDd Jknrt tm higbly liquid invc5tments. Highly liquid inv¢stsnettts are d¢f]n¢d to be those instrumrntsiud8d by our inve5tt1*ni to have their main ¢xp)sure itt moncy m&rketS ￿ld fr￿18n ex¢h*nge rnatk¢ts, for exryle cuh or ttrni dep51￿ Jhort terni borAs and rcncy Certlfvte￿derIv•1lweS. Creditors and provistons are Y#o8titstd the Tfft￿I bA5 8 prcsent obli8ation resultiJ)g from • pD5t event that will prob•bly Tesuli iti the traD5f¢r of fimds to * third party the amounl due io settle ihe obli8atioTJ can bc m¢asura or es¢illJtited r¢liably. CTeth"ts)rs aod pYovi8ions ate TKogDtsed at theti settlement amount Jft¢r allowin8 f(rafty diacou￿￿ thx. Golwg Coneern The finan¢iAI JtatetDents hav¢ t*en prepared on 1 80inB concern basis. Therc arc no material uncertain¢i¢$ abo the Twst's ability to continue (orthe foreseeable fvtur¢. THE CHARLES & EISIE sy￿ TRUST (CIO) NOTLS TO THE FINANCIAL STATEMEf4TS- r•Atin¥ed FOR THE YEAR ENDED 3] DECEMBER 2•24 DONATIONS AND LECACIFS 2024 Total 2023 To1al Ixwi¢s A legacy of £72247 from the Esthte of Joyce BiliinBbAm ttceived during the 2024 year. A fiffther £6,369 from th¢ E5ta* of Joyce Billingbam b¢eD accrued as thii is th¢ rtsidud Iw Hop¢ ESOL CIO, Sheffield Horti¢ap, Ha￿￿881e HouT8liss (Safu A¥cin8). Suffolk Ilkley and District Good N¢i8hbours, Ilkity 2.1￿0 (4,500) Kidney Research UK P￿er￿u8￿1 Kith. IA)ndon Kyra Worn¢n's Proje¢L Yo Lccds Mind. Leeds Leeds Pow¢r¢hxir FC. Leed¥ l*ukaemia c￿£. WoTfestc 4.125 Lifeline (Hanoglie) L￿. Hatrog41e Lifelites, Londo Lighi Pttr Supp￿, Sheffield LighlhouK (West Yorkshire). t£als Li￿ening Books. knThlon Lupus UK Rornf¢Nd Moggie Keswick Jcncks C￿Cer C￿EnE Centrts Trw Gjasgow Margaret Carry Foundation Ltd Sbipley Martin5 Ho￿e Chilthents Hospicc, Wctha Medequip4kid$, Man¢h¢sttY Mind in Bradforl Bradftird Mind in Harro88te DistricL Harro8ale 2.51Y) 2,5￿) 2.500 Pa8c 26 THE CHAR￿ & EISIE S*￿Es TRUST ICIO) OTES TO THE FINANCIAL STATEMENIS- c•nthiued FOR THE YEAR ENDED 31 DECEMBER 2024 GRANIS PAYABLE- ¢ODllnYed Mums in Need Sh¢ffi¢ld Music and Arts Produ￿10￿$ Lced4 Ixds Musical Connections. Yofk Myeloma UK. Edinburgb Neuro Key. Stockton-On.Tee$ New Beginnings P¢¢r Supp¢rfL Hom)8at¢ New HBII Kidz Ltd Wakefield New Hop¢ Conunuttity ch￿b. Sheffield Nomad (Wtiing Door5. Sheffjeld North York5hiTC Hospice Car¢, Ilattogate North Yorkshire Musi¢ Thernpy Ccntre. Malt Orth0p￿lIC Institute Limited. OThc Ovarian c4Th￿rAction. London PCC of Girl1Th￿ort, He￿On and Mar￿7￿8h￿ Brnlfoyd Pilot Thutre SdThiL Yo Power2 Ltd, Tamcside Presion Rogd Wom¢n's C¢ntre L￿. Hull Rainbow Biby Bank. 14Kkmondwike Raos Musical Th¢8tse Compary. Rip)D Re-Enyg¢ Ltd London Relatc Cross Pennine, Kei8hl¢y Restore (York) Limited York R¢vitsli8¢, London Ridwd ShLyh•rd Foubmlaiion. York Rirbmond Hill Elikrly Adion Limitrd. Imd8 Ripon CornmuDity Linl Bipon Rutt With It, Hull S*liJbury Hospice Chatity Limi￿£ SAli$bwy Scarborough Ivhitby and Ryedal¢ Min4 S¢holemoor Bearon CIO. Br*Jford Sch(K¥lre•drr5 CIO. Bedford Shetyield Chur¢h&8 CouncÉl for Community Care, Sh¢ffKld Shcffield Family Holiday F￿, Sheffield Sbeffield M.E GTOLW. Sheffleld ShetTicld Womcn'8 Cowi8¢11itiK Thmpy Service8. Sheffidd Sheffield Young Caffls Projecl. Sh¢lTield SHINE. Pderborougb Sick Children'5 Tru￿. LoTrkn Sidewalk Youth Project. Start*)rough Sir Robert Ogden MacmiliaD Centrc. Hvro8ate Smart Wotk5 Lced5. Leed$ Spenttr D8ymaD Meningrtis R¢s¢wrh. BTiStol Spind Injuric5 Association. Milion Keyn St Anthony'5 Project for Homele￿ Pe<)ple, BTadford St Bartholom¢w's Churcl Arkcndale St Lukts Hospic¢, Shefficld St M￿$ IBTamall Lane) Cornmunity C¢ntre, Shcffield Si Pctcfs Church, Harrogale St Vincent De Paul S(Kicly. LoD&y) St Wilfrid'5 c￿lI[E. Shcfficld Standing Tall. Birningharn Step 2 Young Peoples He￿h￿ Brodfwd Streetbik¢$, Huddersfield Sue Ryder. Sudb SuppDrt to Rccovery, H￿￿$field Take Hcart. Leeds The Brain Tun)ow aharity, FarniKJrou8h 2.S(K) 2,5 2.500 8e27 THE CHARLES & EISIE SYKLS TRUST (CIO) OTES TO THE FINANCIAL STATEMETm- FOR THE YKAR ENDED 31 DECEMBER 2•24 GRA￿ PAYABLE • CODtinued The British Starnmerng AW￿latio￿ Th¢ Cw¢ P8Tkin80n's Reading Th¢ Etshl Tw Sheffield The EX0th￿ Projecl. Barn51ry Thc Five Towns Plus Hospicc Fund Limit¢(L p￿fr￿1 Thc Forwllrd TTVBL IA)ndon The Histori¢ Towns Tnjst, B￿kS￿lI¢ The KI￿￿0￿] Hospice The Lullaby Trust, tmdott The Move Parthttship, Iludder5field The No Way Tru￿ Lirniirt Hull The PSP AysoGiBtion. Milton KeyDe# The Snowdrop Proied, Sheffield Th¢ Social Mobility F0uttd*iio￿ Londo Th¢ Uniled R¢forn)ed CThurth (Yorksbire Pm1D￿j Tnut Ltd. L¢¢ds The Wren Bakery CIO, Lttds Tintiibjs UK Shttrield Unxversity of Bradfor4 Btt•Jford Utology Foundati￿ London Versw Arthritis. Chesterfxld Vision Care for Hom¢kss Pwl¢. London W¢lfaT¢ Bencfiis Unii, York We118pring Therapy and Training W¢si Yorkshirt Community Ch•plaiw Proied, L¢¢ W¢therby iti Support ofthe Eldcrly Vthirlow Hill Farm Trust. Sheffield Wilberfoss. Kexby thd Ntwtm Playing Fields Associthofy Y￿k YfrACA Ripon. ￿"pon York Blind and Panially Sighier Sociery. Y York Hospital Radio, YoTk Yorkshire Canc¢r Res¢ar¢h, H4rroBale Yorkshire Dales Millenium Tn￿￿. L4nca5trr Yorkshire D￿¢£ Centre Tru5( Leedi Zod8 Place Trn¢ LethilDB￿ Sp 3.5fA) 10.LK 2,750 The totsl Bran1$ are follo￿.. 2024 No. 2023 Blind and P•Midfy Sighkd Childrttt and Youth Cultural and EnvhrontDental HeritsBe D¢af. Hard of Hcaring ond Spccch Impairnl Disabled And Physi¢alty Hkndic8PF Edu¢4ti( H05pi¢als and Hospice4 Mcdical Researc Mcdical Welfare Mental Health 32.1 42.IK I I.IKK) 3% 4% 1% 1% 4% 2% I￿/. 2°A 18 15 14 33,500 16 13 16 19 14% 13% 6% 3% 130,125 53.500 325(Kl 13 30.& 14,(1)O 18.1 70h Old People's Welfare Overs¢a$ Ald Servitts and Ex.Scrvi¢e$ 12.511) 2,500 P88e 28 THE CHARLLS & EISIE SYKES TRUST {CIO) NOTES TO THE FINANCIAL STATEMENTS- e(IiiliMu¢d FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PAYABLE- tontinDed Social and Moral Welfare Tradtt and Prof¢sstotss 474.950 49% 61 168.500 12/• 185 147 407 IIXI SUPPORT cosrs Toto11 18 71.543 Support costs. itttluded ID the above. follows.. 2024 2023 Totsl orthts￿Eft9 ￿tivI11¢S B8nk charges Auditors, Tcmuner8tion InswLncc Mectin8 cxpens¢$ Administration fee8 Sundrie8 Ac£ounlancy S¢¢retsrial f iwl & profemion 608 4.628 526 1,428 3,744 1.8C 21.720 35.387 464 4,380 501 1.991 897 20,700 33,384 AUDITORS. REMUNERATIO 2024 2023 Fe¢$ pay*ble to the charity$ ￿￿110t$ for the •udii of the Ch￿1¢￿$ fiDMncial siaiemcn15 The audii ¢0sti are entirety for exterMI xruliny ¥nd no other ￿]CeS ar¢tKovided by the auditOT. TRUSTEES, REhfUNERATION AND BENEFITS There were no trusted remun¢r4lioll (f 4)th¢r benefits for the year t￿ded 31 De(￿ber 2024 nor for the y¢wr ended 31 De¢embeT 2023. Pw29 THE CHARLES & ELSIE SYKES TRUST (CIO) NOTF3 TO THE FINANCIAL STATEMENTS. eonthTr¢d FOR THE YEAR EIYDED 31 DECEMBER 2024 #tti, t4>tn The reimburgewi of truste¢ cxF%nses wtre ¥ follm: 2024 2023 SundTie$ Total llumber of tnutttj r¢imbw%d for expells¢4 10. STAFF COSTS The 4veraB¢ Tnonth]y wmber of vDploytt8 sknitt8 the year w¥$ (2023: Ni The Tntyi ¢mployed no stsff dwiA8 the yeaT (2023: Nil). 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcmrrriLS12023) Unre5thcled EndowTnenl fund Total INCOME AND EI¥DOWMEKfs FROM EXPEYDITURE ON RAi#ing funds 04,362 64,362 ChArlt•bl¢ *¢llvltl GTantm8kin8 413,￿? 473 977 538 339 Net g8iDB on invutments 810798 NET INCOME 169.366 749.499 918,865 RKCONCILIATION OF FLINDS Totsl funth knught forward 528.321 17,588,662 18,116,983 TOTAL FUNDS CARIUED FORWARD 697 687 18,338 161 19,035,848 Page 30 THE CHARIX8 & EISIE SYKES TRUST (CIO) NOTKS TO THE FINANCIAL STATEMKPM-￿th￿Qd FOR THE YEAR ENDED 31 DECEMBER 2024 IL IIXED ASSET INVESTMENTS Li￿ed Totsli MARKET VALUE At l January 2024 Additions Di8posals Revaluatio 18.188,577 3.842.173 (3.735.439) 1387 775 166,805 18J55,382 724,631 4.566,804 (672J73) {4,407,812} 1387 775 At 31 Dcc¢nkn 2024 19683086 19 902 149 NET BOOK VALUE At 31 Dec¢rnber 2024 19 683 086 19902 149 At 31 2023 18 188.577 18 Ai the ytar C￿1 Ibe Tnxrt he]d: Inth¢UK Outside the UK C4th Bnd c8sh equivllents Moncy Market it)ves¢men¢s Bond inv¢stment$ Equity investmenls Hedge funds Property Lrfodian 102.496 116.567 3.701,755 13,744,946 474,823 494,519 1254 037) 1.521.080 18 381069 1521080 Individu•l invcJtmCDts heid atthe year ¢nd whi¢h ttpregelli over 5% of the prtfolio value aY¢.' % Portfolio Nurtsber Heid M￿k￿ VJlu¢ Cost UBS Investhjent Funds ICVC S&P S￿} Irmlex Van8U8Td Fund8 PLC 3.580 37,980 1.379,715 1347 732 954,491 2 727 447 2 200 957 Cost OT vohT8tiio ot 31 Deccmkn 2024 is reWexn￿ by.. C&8h and s¢ttlements pending Totslg Valuation in 2024 CoAt 2,820.924 16,862,162 2,820,924 17081225 219.063 19 683 086 219,063 19 901149 Pag¢31 THE CHARW & EtSIE SYKES TRUST (CIO) NOTES TO THE FINANCIAL STATEMENfs *to•tiDued FOR THE YEAR ENDED 31 DECEMBER 2024 12. FIXKD ASSET INVEsfMENfs. c•ntiDw¢d Irfjxed investments had not be¢n ￿alUed Ily wyjuld have been iti¢ludd at the following historicAI ¢osL' 2024 2023 16 862 162 16688805 Fixed as￿ investsllents w¢r¢ vahKd (￿ an open nwkd b&sis on 31 D￿trOb￿2024 by UBS. 2024 2023 Stock maTk¢t investmeni di￿￿¥.. Proceed8 Less opening ￿$1 3.879.416 4.473.923 In￿{1*?¥1¢5) on dijposal in the ye ReV￿￿￿tionS 1387 775 734 723 Net gain￿{lou¢8) on inv¢8tments 1531752 810798 Invcstrnents h¢ld 41 hir nlue compromi¥¢.' 2024 2023 C8th And c4sh equivalents Moncy M•rket itjvestments Bond invesnnents Equiry itivestttK4ts Hedge ftmds 102.496 116.567 3.701.755 15,266.026 474.823 494.519 1254 037 56.282 110,523 3,947,910 13,677,428 430,529 367.1￿4 234 94 c￿S￿dIan fvTrJs 19 902 149 18355 382 The fair VI￿¢ of listed itive5tments 15 deterri￿ by ttltretsee to the quoted wice for identical assets ill an active M￿tt #t the year erxl. Page 32 THE CHARLFS & EISIE SYKLS IIiUST (CIO) NOTES TO THE FTNANCLIL STATEMENfs. ¢owllNued FOR THE YKAR ENDED 31 DECEMBER 2024 13. CREDfTORS: AMOUNTS FALLING DUE wmuN ONE YEAR 2024 2023 A¢¢nM]s and deferred income 170.518 14. MOVEMENT IN FUNDS Ne¢ ovement in fuD& At 31.12.24 At 1.1.24 Unrestrlcted fuuds General FUTKI 697.687 (326,807) 370.880 EDdov4m¢llt hudi Capital fund 18,338,161 1.548J12 19.886,473 TOTAL FUNDS 20 Net movement in fiujth. included in th¢ above are as follo￿.. In¢ominB R¢S(x￿￿3 Gains and Movement in futtds Unrtstrlcted fund• General Fmnd 711.419 {1,038,226) {326,807) capi￿] fund 78.616 (72.7261 .542.422 1.548.312 TOTAL FUNDS 11109521 Cornp•rAthd f•r movement ID fumds N¢t mov¢meni At 31.12.23 Atl.1.23 Unrestrl¢ted fv*di G¢nern] Fund 528.321 169J66 697.687 Endowmeot Capital fund 17588.662 749.499 18,338,161 TOTAL FUNDS 18 110983 19035 848 P•8e 33 THE CHARLES & ELSIE SYKES TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS- eoDll•lled FOR THE YEAR ENDED 31 DECEMBER 2024 14. MOVEMENT IN FUNDS. t•ntinued Iwoming Gtti￿ and Mov¢m¢nt lo￿5 Unmtrkted fuDdi General FthMI 643J43 (473.977) 169.366 Capital fimd 3,063 (64,362) 810.798 749.499 TOTAL FUNDS 538 39 918 865 15. FUNDS HELD AS cusfoDL4N TRUSTEE On the 13 January 2020 fullds of £228J66 wtre Teceiv¢d from Brldford Hospitals, Charity {cbaTity no. 1061753) by the Trusi. Theirobj¢cts ittelude for ¢lJArilable puoose. The4¢ funds are held on belhawof Br4dfotd Hospitsls, ek￿rity and ￿nI10￿¢ io be inveattra u part of the ov¢roll ponfolio iti *¢cordknce T￿th th¢ a8r¢emeoL Al at the 31 fJe¢¢rnb¢r2024 the cqrreni valuc of thcse fuDdB amounted to £254.037. 16. RELATED PARTY DISCLOSURES The Tn￿3 ￿re1￿. Mr Neil Shjw. is a pAm¢r in LCF Law who xl AS wli¢itoN for the Thwt. For the secrewial servicu provided by hiq few w¢tt Incur￿ during the yw Jmountll)8 ￿ £37,697 (2023.. £36.7441 whith were iDchuive of VAT. Mr John Garbun acts as the treasurer attd li a director at DSC Chart￿￿ A￿0￿￿￿￿1% 0150 4¢1 for the knjst 88 I￿0)ul1t1nts and tsx advisoTJ. Fw the tre*sur￿5 thitics, fees wu¢ in¢uffed thwin8 the ye8r &mountin8 to £21,720 (2023: £20,7Tr)) whicb wtte inclusiv¢ of VAT. There w¢r¢ no outst￿1￿& bkn ai the bal￿￿e she¢t d8* or in of the PTtvious period. 17. CONVERSION TO CHAR￿ABLE INCOKPORATED ORGA141SATION (CIO) On the 9 J￿ll*ry 2024 The awity Commission ippmvcd thc conversion lo a new ¢haritsble Inco￿orated orynisAtion ICIO). Thc Clwks 2nd Elsi¢ Sykes Trust l¢hty tto. 206926) would muge with The Charles and Elsie Sykes Tru￿ Iclwity no. 1204728). with oll the activitie4 assets and liabilities transferred to the new ¢hgrity. Thc trust would continue lo urry oui 115 clwitablc actiTritie5 Wlder th¢ new CIO (ch¥rity no. 1204728}. Pa8e 34 THE CKIRLES & EISIE SYKES TRUST (Cio) NOTES TO THE FINANCIAL STATEMENf6- ¢o•thi*ed FOR THE YEAR ENDED 31 DECEMBER 2•24 17. CONVEKSION TO CHARITABLE INCORPORATED ORCANISATION (CIO)- e•nthiued ADalysis ofprin¢ipal SOFA ¢ornwJncnts for the turmi repxting Sykes Tn the Chul¢s and Elste Sykcs TTU Elsiesykes Tn I￿1 Elsic Sykes Trult Combined IAI numbeT 21)6926 1204728 1204728 {pMittyr) (￿¢.￿eT) (po81.)M8¢r) number 1204728 Total income Totsl ex￿￿th.1￿￿e Net iDcomcllcxtthdittre) Cmhcr gainslllogse8) Net movtmtnt th fundi 8.762 785.574 794,336 (1.110,952} (1.110.952) (325 J78) (316.616) 1.531,752 1,531.752 13116J74 l J15,136 8.762 &762 Analyii5 of prin¢ipal SOFA for th¢ ttportiD8 p¢riod The Chwks Sykes Tnut 01￿ kngwn SJ The Ch•rf thc Charles 4nd Elsie Sykes TNSI Charity umber 206926 ElsieSyk¢s Trust Charity numbtr 1204728 C¢wJbined total Charity number 1204728 Totsl itteome Total expvwjitiwe N¢t incomcl{expend1tu￿) Oih¢r 8•in￿{lO$S¢s) Net movemeni in fund5 TotAI fund• eArritd fonvard (538J39) ioti.(N$7 810.798 918,865 918J65 (538.339) lo8,(￿7 810.798 918.865 918 Ana￿13 of assets at the d•f¢ of mergcf Sykes Trust also knowT ¥ The Charles the ch￿kS d Elsie Syke5 Tn Charity numbcr 20￿}26 Ei8ieSyk Tntsi Combined tal nwnbcr numP*r 1204728 1204728 Net ll55 19.044.610 19.044,610 Unrestricted fiALd8 EThknwment 706.449 18.338,161 19,044hlO 706,449 18.338.161 19,IM4,610 Page 35