The Claude Ballard Southall Memorial Charity
A Charitable Incorporated Organisation
Registered Charity Number: 1208102
Report of the Trustees and Financial Statements
YeaT Ended 5 April 2025
Higgs LLP
3 Waterfront Buslness Park
Brlerley Hill
West Midlands
DY5 ILX

The Claude Ballard Southall Memorial Charity
Index to the Financial Statements
Year Ended 5 April 2025
Page
Contents
Reference and Admlnistrative Information
Trustees, Annual Report
statement of Flnancial Activltles
Balance Sheet
9-11
Notes to the Accounts

The Claude Ballard Southall Memorial Charity
Reference and Admlnistrative Information
Year ended S Aprll 2025
Governing Document
The Charéty is govemed by the CIO Foundatlon
Constitution dated 2 May 2024.
The Charlty's registered charity number is 1208102.
Trustees
John Bruce Rostron (Chalr)
Dorothy Smith
David John Nightingale
Julla Annette Savage
Secretary
Ms KSr5ty McEwen
Bankers
CAF Bank Ltd
25 Kings Hlll Avenue
Kings Hill
West Mailing
Kent
ME19 4JQ
SollcitorJ
Higgs LLP
3 Waterfront Busine55 Park
Brlerley Hill
West Midlands
DY5 ILX
Investment Managers
Mr M Neale
Vertis Private Wealth Management Limited
Campion House
Green Street
Kiddermlnster
DYIO IJL
Accountants
Higgs LLP
3 Waterfront Business Park
Brlerley Hi11
West Mldlands
DY5 ILX

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 Aprll 2025
The Trustees present thelr annual fftport and financial statements of the Charity for the year
ended 5 April 2025. Tre financial Statements have been prepared in accordance with the
accounting pollcoes set out in note I to the accounts and comply with the Charity's governing
document, the Charlties Act 2011 and the Statement of Recommended Prartice applicable to
the charities preparing their awounts with the Financial Reporting Standard appllcable on I
January 2019.
structure, Governance and Management
The Charity was registered with the Charity Commlsslon on 2 May under reglstered charity
number 1208102, and is constituted under the CIO Foundatlon Constitution dated 2 May 2024
{"the Governln9 Document").
The Charity does not aclively fundraise and seeks to contlnue charitable work through the
careful stewardshbp of Its exlsting resources.
The Governing Document provldes for a minimum of two Trustees and a maxlmum of slx
Trustees.
Trustees must hold at least one meeting each year, either in person or by suitable electronic
means. The quorum at any meeting is at least one thlrd of the total number of Trustees at the
tlme, or two, whichever is the greater.
At the Tru5tees' meetings, the Trustees agree the broad strategy and areas of activities for the
Charity, includlng consideration of grant maklng, investment, reserves and risk management
pollcles and performance. The day to day admirbistration of grants and the processing and
handling of applications prior to conslderatlon by the Trustees is delegated to the Secretary.
The Trustees would take account of the recornmendations of the ICSA best prartI￿ guide
'Recruitment, Appointment and Indurtion of Charity Tru5tee5' should the need to recruit new
Trustees arlse. The Trustees would look to recruit in light of an appropriate skills audit of the
current Board and taklng into account the experience, expertise and diversity of the current
Board, as well as their knowledge of the Charity'5 area of beneflt and benefioal da55.
New Trustees may be sought by open advertisement or through a dialogue wlth major grant
recipients and local communlty groups re5pectlng the ethos of the Charity to continue the
charltable work intended by the settlors, the Trustees attively seek those wlth a knowledge of
the local area when considering any prospective candidate. The ultlmate decision on selettlon
is a matter for the Trustees.
On appoSntment new Trustees sign a Trustee Declaration and Undertaking committlng them to
the giving of thelr tlme and expertise. It also confirms their ability to art in the role of
Trustees. The Induction process has been changed to follow the ICSA good practice gulde wlth
a formal induction programme for any newly appointed trustee being led by the Secretary, to
include initlal training in the grant maklng process, the dutie5 and responslbilities of the
Trustees and the role of any sub committees. The welcome pack include5, amongst other
information and guldance, a brief history of the Trust, copy of recent Trustee (and sub
committee) minutes, a copy of the last three years of arbnual reports and accounts, a copy of
the Governing Document and a copy of the Charity Commission's guidance'The Essentlal
Trustee.. What You Need to Know, and 'Charltles and Public Benefiy.
The Trustees Intend in the upcoming year, with the support of the Secretary, to developing a
code of conduct for Trustees including formal statements of roles and responsibillties and to
undertake work on the Charity Governan￿ Code.

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 Aprll 202S
All Trustees give of their tome freely and no Trustee remuneratlon was paid in the year.
Trustees are entitled to claim reasonable out of pocket expenses and where they do those are
noted In the accounts.
Trustees are required to disclose annually (and as they arlse) any potential Interests whlch
mlght conflict and register them wlth the Secretary and in accordance with the Charlty's
written conflicts of Interest policy.
Rlsk Management
The Trustees have considered the major risks to which the Charity is exposed and have
revlewed those risks and established systems and procedures to manage those risks.
The major financbal risk is the variablllty of Investment returns on the portfollo and its impatt
on income levels and capital growth. The Trustees have artively sought to mana9e this risk by
appointing Vertls Prlvate Wealth Management Limited to advise the trustees on the
investments held in the investment portfolio. Their role is to monltor the performance of the
portfolio, to take appropriate action to mitigate any loss to the portfollo, and to ensure that the
objertives as detalled in the Investment Policy Statement are followlng and reviewed annually.
The major operational risk is the extent to which grants awarded to individua15 and charitable
or not for profit organisations adVan￿S the objetts of the Charity and demonstrate sufficient
public benefit. The Charity has managed Its risk by retaining Trustees of sufficient expertlse
and experience, and through the quality of the Institutlons and the people who they support.
In addition, the Trustees rely on the Secretary to undertake approprlate and proportionate due
dlligence on applicatlons and ensure all grant giving retains a focus on the public benefit.
The major regulatory impatt of the Common Reportlng Standard {'the CRS,), on the operation
of the Charity. CRS is belng an international tax transparency reglme aimed at preventlng tsx
evasion. CRS came into force from l January 2016 and the Charlty is now required to provlde
Informatlon about their beneflciaries, tax resldency status to HMRC, who wlll then share this
informatlon wlth the appropriate tax authorlty in other jurisdlrtions.
The Charlty is subject to this regime because it relles on investments for more than 50Wo of Its
income and those investments are professionally managed by a ffinanclal institution under
advisory mandate. This means the Trustees are required to carry out dLJe diligence to establish
a tax residency statu5 of all beneflclaries, keep records of efforts to comply with the regime,
register with HMRC as a financial institutlon ("Financlal Institution,? if they have reportlng
requirements and report to HMRC If required.
The grant appllcation pro￿5$ is revbewed annually and the grant appllcatlon form expanded to
ollert the necessary due dillgence information that is requlred In order to establish tax
residency status of all grant recipients. both individuals and charity and not for profit
organisatlons. This includes additional Infomiatlon i ncluding tax resident Jurisdiction, tax
identification number (for individuals) and entity status (for organisations)- The Trustees wlll
keep thi5 under review.
ObJects and Activltles for the Public Benefit
The objects of the CIO are to advan￿ such charitable purposes (according to the law of
England and Wales) as the charity trustees see fit from time to time wlthln the Clty of knverpool
and the Wirrall ("the A￿a of Benefit").
The Trustees have set a Grant Making Policy and revlew thls on an annual basls. Thls Is
available on request.
The Trustee5 have a wide dlscretion to make grants to charities and for charfitable purposes.

The Claude Ballard Southall Memorial Charity
Trustees. Annual Report
Year ended 5 Aprll 2025
By focusing on these areas, the Charity achleves its strateglc priorlty of maintalnlng a stable
grant making programme, v4ith balancing support to individuals and to charities and voluntary
organlsatlons (for excluslvely charltable purp05es).
Grant Maklng Policy
The Charlty has established Its grant making poliry to achleve its objerts for the public benefit,
to improve the lives of Indlviduals within the area of beneflt. The Trustees ￿vIeW the grant
making policy annually to ensure It reflects the Charity's objects and thereby advances public
benefit.
The Trustees have power to spend or retain both capital and income. Thus both Income and
capital is expendable without distinttion in furtherance of the objects.
The Charity's beneficlartes are in the Clty of Liverpool and the Metropolltan Borough of Wlrral.
The general pollcy of the Trustees Is not to give retrospective grants and the Trustees wlll only
consider one appllcatlon from any applicant.
Grant Maklng Procedure
Applications can only be consldered If they are on the Charlty's standard appllcation form. The
application form tnust be completed and retumed (together with a copy of any supporting
informatSon relevant to the application) to the Secretary at least four weeks before the meetlng
at which the applicatlon Is to be considered.
The Trustees meet two tlmes a year to consider appllcatlons.
It Is the policy of the Trustees to conslder grants on an equal opportunities basis, regardless of
gender, rellgion and ethnic background.
Public Benefit
The Trustees conflrm that they have refer￿d to the informatlon contained In the Charlty
Commi55ion's general guidance on publlc benefit when reviewlng the Charity's objects and
actlvltles, their grant maklng pollcy and plar)s for future period.
The gbjects and activities of the Charity are largely determined by the provisions of the
Governing Document, and from there the Trustees exercise a discretion In considering how
best to meet the public benefit test and ensure that as many individuals and charitable and not
for proflt organisations wlth particular needs will galn advantage.
Monltoring and Acnievement
The Trustees have contlnued with an asplration to seek a reasonable return over the long term.
It is intended that the portfolio will show a welcomed recovery and that the long term
objectives to meet income needs and grow the capital are obtsinable.
Financlal Review
The Charity's work is entirely reliant on Income and investment returns from its capital. A5 at
5 Aprll 2025, the value of the Capital fund stood at £0. During the year the income of the
Charity was £0.

The Claude Ballard Southall Memorlal Charlty
Trustees. Annual Report
Year ended 5 Aprll 2025
Investment Policy and Performance
The Investment power5 of the Trustees are wide and allow the Trustees to Invest funds In any
matter (after taking such advlce as they consider necessary) and having regard to the
suitèbility of Investments and need for dlver5ification.
The prfncipal investment holdings of the Charity comprise funds and portfolios of quoted
securltles. As at 5 April 2025, it is intended the value will represent IOOO/o of the Charity'5
Investments. The management of the portfolio is undertaken on an advisory basls by Vertis
Private Wealth Management Llmlted arld the written investment policy is reviewed on at least
an annual basis by the Secretary in conjunction wlth the investment managers and ultlmately
approved by the Trustees.
The investment managers are Instructed to advise on maxitni5ing the Income on the portfolio
whilst preservlng the capital, within the constraints of a medium rlsk investment portfolio.
Following investment advlce, the Trustee5 held cash on deposlt wlth CAF Bank Ltd of £0.
Reserves Policy
The whole of the Charity's capltal 15 expendable and this distinction between opital and
income Is not relevant. The Trustees appreclate that the general principles of charlty law
require Trustees to spend thelr Income within a reasonable period of receipt.
The Trustees have set and agreed a pollcy which broadly Identifles the framework withln whlch
the Charity will operate its reserves. The Intentlon Is that the Charity wlll retai n an approprO3te
and reasonable level of reserves whilst concurrently ensuririg that it uses the income in a
manner that is withln the objects at the best interests of the Charity and its beneficiaries.
Slnce the Charity receives all of Its income from the Investment portfollo, the Trustees are
mindful that the source of income be volatile and subject to sudden changes In the market.
They are concemed that in any year there is a risk that they cannot meet their ongoing
administration and professional expense commltments as and when they arise, due to any
fluctuatlons in the market which may prevent or signifficantly reduce income.
The Trustees have therefore ConsIde￿d, In conjunctlon wlth the professional advisers, the level
of reserves to retain from surplus unrest￿Cted funds. They have declded to build up a pot of
reserves equivalent to one year'5 adrninistrative and professional expenses but excluding grant
commitments. This will ensure that should there be any fluctuations In the market which
reduce the income avallable for distribution, the Charity can use its reserves to continue to
meet its obligatlons and liabilities as and when they fall due.
Plan for Future Periods
The Trustees belleve their grants will translate into significant public beneflt. In cementing the
arrangements already in p5ace, and beginning with its artivlties as set out this report, so
that the many and varied charitable and not for profit organisations, and i ndividuals may
contlnue to benefit in real terms from its financial support, the Charity aims to provide a long
term commitment and thereby encourage and support indlviduals and charitable and not for
proffit oryanisations.

The Claude Ballard Southall Memorial Charity
Trustees, Annual Report
Year ended 5 Aprll 2025
The intention is to establlsh a programme of grant giving which will translate Into slgnificant
publSc benefit. The Trustees will focus on those Indlviduals and organisatlons who would
benefit In real temis (Impact) from Its flnandal support, thus provldlng and ensurlng a longer-
term comrnitment to support.
Trustees" Responslbllltles In Relatlon to the Flnanclal Statements
The Trustee5 are respDnslble ftir preparlng the Trustees. Report and the flnanclal statements In
accordantr wlth appllcable law and regulatlons and United Klngdom A¢countlng Standards.
The law appllcable to charities in England and Wales requlred the Trustees to give a true and
falr vlew of the stste of affalrs of the Charlty and of the Incomlng resources and appllcatlon of
resOUr￿s, Includlng Income and expenditure of the Charity for that period.
In preparlng these flnanclal statements, the Trustees a￿ required to:
•selert suitsble accounting policies and then apply them conslstentlyi
•observe the methods and prlnclples of the Charities SORP,
•make judgements and estlmates that are reasonable and prudent:
•51ate whether applScable accountlng stsndards have been followed, subject to any material
departures d15c105ed and explained in the finandal statements. and
•prepare the flnanclal statements on the going Con￿rn ba51s unless It Is Snapproprlate to
presume that the Charity will continue in operatlon.
The Trustees are ￿sPonSIble for keeplng adequate accounting records that are sufficient to
show and explaln the Charlty's transactSons and dlsclose wlth reasonable accuracy at any tlme
the financlal positlon of the Charity and enable them to énsure that the financlal statements
omply wlth the Charltles Act 2011, the Charity (Accounts and Reports) RegulatSons 2008 and
the Govemlng Document.
They are also responsible for safeguarding the assets of the Charfty and hence for taklng
reasonable steps for the preventlon and detectlon of fraud any trther irregularitles. The
Trustees are responslble for the maiAtenance and integrlty of the Charlty and financlal
infomiation included on the Reqister of Charities.
Approved by the Trustees and signed on their behalf by:
Mrj B Rostron
Chalr

The Claude Ballard Southall Memorial Charity
statement of Financial Activities
Year ended 5 April 2025
Notes
Unrestricted
Funds
Total Funds
2025
2024
Income resour¢es:
Income resources from generated
funds
Total Incomlng resources
Resources expended:
Cost of 9enerating funds
Charitable activities
Cost of grant making
Governance costs
Total resource5 expended
Net (outgoing)/incoming
resources before other recognised
gains and losses
Realised gains/(losses) on
investment assets
Unrealised gainsl(losses) on
investment assets
Net movement In funds
Reconclliation of funds
Total funds brought forward
Total funds carrled forward

The Claude Ballard Southall Memorlal Charlty
Balance Sheet
Y¢ar ended S Aprll 2025
Not
Unrestricted
Funds
Total Funds
2025
2024
Flxed Assets
Investments
Total Flxed Assets
Current Assets
Cash with bank and investment managers
Debtor5
Total current assets
Llabllltle
Credltor5 falllng due wlthln one
year
Net current assets
Total Jssets less current Ilabllltles
Creditors falling due after more
than one year
Net asset$
The fund$ of the Charlty
Unrestricted income funds
Total Charlty funds
The notes on pages 9 to 11 fomi a part of these accounts.
Approved by the Trustee5 and signed on thelr behalf by..
Mr
Chalr
ostron

The Claude Ballard Southall Memorlal Charity
Notes to the Accounts
Year ended S April 2025
l. Accountlng pollcles
{a) Basls of preparatlon
The financial statements have been prepared under the historic cost convents'on, with the
exception that investments are included at market value. The financial statements have been
prepared in accordance with the Statement of Recommended Practice.. Accounting and
Reportlng by Charities (FRSEE) issued in January 2015 and applicable UK Accountin9 Standards
nd the Charitles Act 2011.
(b) Funds Strurture
The Charity has one fund, an unrestricted income fund. This is a fund which the Trustees are
free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include
designated funds where the Trustees, at their discretion, have created a fund for a specific
purDose,
{c) Incomlng resources
All incoming resources are recognised once the Charity has entitlement to the resour￿S, it is
certain that the resour￿$ will be received and the monetary value of incoming resources can be
measured with sufficient reliabllity.
Id) Expendlture on ralslng fund$
Liabilities are recognised as resources expended as soon as there Is a legal or constructive
obligation committing the Charity to the expenditure. All expendrture is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the
category.
Grants payable are payments made to charitable organisations in the furtherance of the
charitable objects of the trust. Single or multi-year grants are accounted for when either the
recipient has a reasonable expectation that they will receive a grant and the Trustees have
agreed to pay the grant without condition, or the recipient has a reasonable expectation that
they will receive a grant and any condition attaching to the grant is outside the control of the
Charity.
Provisions for grants are made when the intention to make a grant has been communicated to
the recipient but there Is uncertainty about either the timing of the grant or the amount of the
grant payable.
le} Expenditure on generatlng funds
The costs of generating funds consists of investment management fees, le9al fees, accountsncy
fees and other governan￿ and regulatory fees.
If) Charitable activities
The cost of charitable artivlties includes grants made.
Ig) Governance costs
Governance costs comprise all costs involving the public accountabiltty of the Charity and its
compliance with regulatlon and good practice. These costs include costs related to the
preparation of the accounts, the independent examination fee and legal fees.
(h) Fixed asset investment
Investments are stated at market value as at the balance sheet date. The statement of financial
activib'es indudes the net gain and losses arising on revaluation and disposals throughout the
year.
(i) Realised galns and 10s$es
All gains and losses a￿ taken to the Statement of Financial Activities as they arise. Realised
gains and losses on investments are calculated as the difference between sale5 proceeds and
opening market value Ipurehase date if later). Unrealised gains and losses are calculated as the
difference between and market value at the year end and opening market value lor purchase
date if later). Realised and unrealised gains are not separated in the Statement of Financial
Activities.

The Claude Ballard Southall Memorial Charity
Notes to the Accounts
Year ended 5 April 2025
{j) Contlngent liabilities and provlslons
In accordance with the SORP, a contingent liability is disclosed for those grants. which do not
represent liabilities, where the possible obligation, which arises from past events, will only be
confirmed by the occurrence of one or more uncertain future events not wholly within the
Trustees, control. Provisions are recognised for those grants where there is uncertainty as to the
timing or amount, and any uncertalnty regarding the amount is more than one of determining a
basis for reasonable estimation of the liability arising from that constructive obligation.
2. Related party transactions and Tru5tees' remuneration
There were no related party transactions or Trustees, remuneration paid for the financial year
ending 5 April 2025.
3. Investment inwme
2025
2024
Dividends - UK equltities
Dividends - Non-UK equities
Interest - UK fixed interest securities
Interest on cash deposits
Interest - Non-UK fixed interest securities
4. Investment Manager's Costs
2025
2024
Transact - Investment maT)agement fees
Vertls- Investment management fees
5. Analysis of charitable expendlture
The Charity undertakes its charitsble activities through grant making and awarded grants to a
umber of organisations in furtherance of its charitsble activities.
Grant funded activitie5:
2025
2024
Total
io

The Claude Ballard Southall Memorial Charity
Notes to the Accounts
Year ended 5 April 2025
6. Governance costs
2025
2024
Independent examination fee
Bank charges
Vertis Wealth Management fee
Legal fees: Admlni5tration
Accounts preparatlon
VAT
7. Fixed a55et investments
Movement In flxed asset investments
Market valLse as at 5 April 2024
Additions to investmeTrts at cost
Disposals at carrying value
Net gain/{loss) on revaluation
Net movement on cash
Market value as at 5 April 2025
Investments at market value comprised:
2025
2024
Equitie5
Fixed interest securities
Cash held within portfolio
Total
8. Analysis of current liabilitites and long term creditors
Creditors under l year
Legal fees
Independent examiner's fee