Charfty F8glgtratrJn rnAnber. 204958
Viscount Amory's Charitable Trust
ATrnU￿ Roport and Flnanclal Statements
for the Year Ended 5 Aprfl 2024
WESTCOTTS
IPTI RI D ACCOU NI4NTS

Vlscount Amorfs Charltablo Trust
Contents (contlnued)
Reference &)d Admlntstr8Yve fJgtall3
Truste0¥ Rewt
2to4
Indep￿ent Audltcrf3' Report
5108
Slatoment of FInaTh￿OI A(thitles
8olan¢8 Sheei
10
Notes to the FtnarKW Statsments
11to20

Vbscount Amorfs Charitable Trust
Reforence and Admlnlstratlve Detalls
Tn•st•
Slr IBn Heathcoat Amory. Bt DL
Mrs Calherina ENz8belh C8vend8r
Chvlty Reglstratlon Numbw 204958
Prfnclpal Offl
The Island
Lowman Green
Tiverton
Devon
EX16 4U4
Westcoits (SW) LLP
47 Bouwrt Slreèt
Bamstaple
Devon
EX31 1SQ
ditor
Sollcltors
A5hfords
Ashford House
Grenadier Road
Ex8t8r
Devon
EXI 3LH
Uoyds Bank PLC
rsverton
46 Fore Slro01
riverton
Devon
EX16 6LF
Bankors
Invostrngnt brokern
oinwort Hafflbros
8 Sl James's Squar
London
SW1Y4JU
Adrnlnlstratlon
Lowman Manufacturing Company Ltd
The I￿and
Lowrnan Green
T4verton
Devon EX16 4LA
Pag8 1

Vlscount Amorfs Charltable Trust
Trustees. Report
The Iru$leeB presgnt the annual report together wlth the fln￿CIal statements oflhè forthe ye8r
ervjed 5 Aprti 2024.
ObJ•ctlvo¥ and actIvIt￿$
ObJ8cts and¥lms
The trustees belteve tha objectives of th8 trust are to donate Ihg annual Investment Ino)me to such
dHritable institulions or ofhèr organisations as think fft primarily to benefit the inhat4tants of the
county of Devon but to also asslst srung people. Ihe poor arKI aged and to advance education.
The trust meets Sts objectlves ty fr4knwlng a generdl pjlicy of distrtbuting tho trusf$ Ineomg whlsi
mainlaining th8 sub5tanco of the truBt8 investments to enlarg8 its gr8nl*iving phjtenual.
Publlc ￿nefft
The trustees have had regard to the CharTty Commission guld8nce t)n publlc banefft and bellevo this
Is achieved vla the charitvs ob]è¢llves aThJ advitles.
Thg trusteos confimi that have complied the requirements of section 17 of the Charfties Ad
2011 to hava dug regard to the publlc benefft guidance publkshed by tho Charity Commission for
England and Wales.
Grantmklngpollclos
The trustees invilg and respond to appllcauons from a wide vartety of establlshed charilies or groups
promotillg charitable causes. Thèir preference is to support smaller groups, mostly In the south west
of EThJland. which do not hav8 acces5 to sophlsttc8ted fund raising campalgns and on whth a
relativoly srnall donatlon may have a signifkwt off6cL In this mannar Ihe aims of the thartty are for
tho public benefft.
Achlovomfrnts and porfomiance
The trust has continued to run SM￿)th[Y maklng donsllons out of investrnent In￿me to kxal
Institutions and IndNiduals.
Durfng thg ￿al the trust madè don8ttons of £482.51712023.' £409.656).
At tho yèar end lotsl unrestrtcted funds wgre £12,454.OSB 12023: £12,540.4281 of whtch £147,266
{20ZJ: £166,778) were daslgnot9d fvnds for fvrther commitments payable.
Flnanclal r¢vf0W
The financlal ststoments show net expenditure forthe ￿ar of £99.081 12023: net Income £8.4461
Poll¢y on r•serv•s
It Is the pollcy of the trust to maintain suffiaenl reserves lo mpet its comrniirnents lo grants awardèd
bui not ypt paid and to ma￿taIn th$ trusV$ grant-gmng potendal in real terms.
Pa9e 2

Vlscount Amorfs Charltablo Trust
Trustses, Report (contlnuèd)
Inv•stmentpoliTCy and obhctlvos
The Injsl omF4oy4 KIe￿WOrt Hambros b) menage most of its invethent portrollo. The rem81nder of
the F￿frAI0 Is Invested in oJmpanl8$ and other Investments In th8 ojunty of D8vi>n.
Inveslmgnl incomo for th8 year was £473,14512023', £S06,752) repre8enluig a 3.75% reium120ZJ:
4.0%} on the marketvalue of the p￿tIO160.
At Ihe year end th& mthetv8lu8 ol Investrnents held was £12.619,29212023: £12,686.1501.
Plans for futurn P￿10d•
Alms and keyobJeetlv8s ftirfutureperfods
To continuo to donate tha annu81 In￿${ment In¢>Jm8 for charitabl8 purposos.
Golng concom
The value of the tharrvs inveslments vari9$ vjfith m¢)vements in the ffinanaal markets. As the truste
hav8 P8rN(xJlar regard to tha Incomo vthen deciding on grants they assess the grant-gI￿ng poiential
wlfh ¥ tong tern vlew of tho agsets, and thls vlew allows them to draw fmm lh8 (spft81 gain$ of the
frjnd from tkne to llme to supplement the Incomo. Th¥ tnJstee$ 8re of the opinion that the level$ of
grants and ￿MMItments can be $ustsined by the fijnd for at least the next tsyejve months.
Structur•s gov•m?nco and manag•mont
Nature offgov•mlng do¢ument
Tha Trust is govemed by a Twst Deed d8ttd 26 FeLYuary 1962.
Oryanlsatlonal sfw¢lur•
Thg minimum number of trustee$ required kj administer the trust 13 three. However, fv40 trustee5 may
sdminisfer the trust pmwd¢d the vacancy Ls filled as soon as posslble. Appolntmgnt Is by tho exsting
trustees under the stalutory ptr*er5.
Thè Trust88s are adlvejy s8eklng a thirf Trustse lo fill the vacanGy. Nomynees neèd to be loca aTrJ
be prepared to act
Majorrisks and manag•m•nt of thos• frlsks
The Irustees have examined the maj¢)r strategiq I￿sInesS and operational ri3k8 vthtch the trust fa¢es
and o)nfiun that systems have been eSlabl￿hed to lessen those risks.
Pago 3

Viscount Amorfs Charltabla Trust
Trustees. Report (contlnued)
ststement ol Tru$t•os' Responslbllltles
The trustses ar8 responslble for preparing the trustses. rspN)rt and the finandal sttttsments in
accordanc8 th8 United Klngdom Accounllng Stsndards {United KlThJdom Generalty Accepted
Accounting Pradce} and applkable law and regulatlons.
Th9 law applicable to charitles require5 the trustees to prepare finond81 statemgnts for 08¢h fin8neTo1
year whKh give a true and falr view of the stsle of affairs of the tharity and of ttrTe Irwmiro resources
and appli¢ation of resources of thg charity for that period. In prep￿ing these ffflancaal statements. th
trustees are requtrod to:
8ele(X suttabk ac¢ounllng potiths aThJ then app￿ them consistenty.
observe the methods and prinaplas in the Charities SORP,"
make ludgements and eslimates that are re8sonable and prudent,.
stale whether appli¢ablo accounling standards have b8gn followad. $ubJ"8et to any maiorfal
departures disclosed and explained in the finandal statemen15: and
prepare tho fin8nci81 statements Tri the golng I￿nCern ba81s unl858 It i8 inapprowiate to presumè
that th• tharity wll conb'nue in busine5S.
Thè trust8e$ are responslblg for kaeplng proper accounllng rec£Jrds thai dlsdoso wlth r8a¥Jnablo
accuracy at any tlme the finBn¢xl position of the charity and onablg them to ensure that the finanaal
s¢atemenis corryly with the Charftles Act 2011. Ihe Charitie8 (Accounts and Reports) Regulakn'ons
2008, and the provisions of the constitution. The twslees are also responsible for saleguardlng the
aSS8ts of the charity and hen¢e for taking reasonable steps for the pravention aThJ det8¢tion of trnud
and other irrogularltlgs.
The trustee5 are rgsponslble for Ihe maintenanca and Int8gW of thè corporato an¢J finandal
Infomiatlon Indudgd on the chadtablg companls website. Leg151ation goveming the weparallon and
dlsseminailon ol finanrAal ststements may dlffer from legislalron in other jurisdictions.
Disclosur• of infomiation to audltor
Each trustee has taken steps that they ought to have taken as a tsustee rn ordgr to makè themselv0$
aware of any relevant audit information and to estsbThsh that the ch8ri1I8 audllor 18 awar8 01 Ihat
Inlormation. The Iwslees confirm that there is no re18vant irrfoMi8tion that they know of and of byhth
Ihay know the auditor is unaware.
22.1.Ir
The annual roport was approved by thè trustaas of th* charity on .................... and svJned on its
beha￿ by
Slr lanf8aththrfAknorrGri
Trustèe
Pa90 4

Viscount Amorfs Charltablè Trust
Independent Audltorfs Report to the Members of Vlscount Amorfs Charitablo
Trust
Oplnlon
Wo have audtted the financlal statements of Vl$counl Charltable Trust {th8 'chariiYI for th&
yoar erKled 5 Apth 2024. vthlch ￿mPrisO the Statement of Flnanoal Actlvibos, Balanco Sh&et. and
Notes to the Flnanaal Ststements. induding a summary of signthcanl accounting pdiries. Thè
financial raportlng framewo￿ Ihal has been applied In thelr preparation Is Unlled Klngdom AccouThting
Standard5. comprising Charitles SORP- FRS 102 The Financial Reporllng Stsndard applicable ffi the
UK 8nd Republic of Irelorrt and applicablo law {United Ktngdom Generdlly Accepted Ac¢ounllng
Pracucel.
In our opinton the finandal statem￿ts.
grve a true and fair vlew of thè ststo of tho d)arty3 affatrs 88 at 5 April 2024 and of Its Incomlng
resources and appllcallon of r8sour¢os. in¢ludlTh3 it8 incoffla and expèndMur8, lor th8 y&8r then
onded.,
havè been pr¢)perty prepared In acL￿rdar￿A Unlted Klngdom G9naraJly A¢copted Accounllng
Practke; and
have been prgpared In accordance wlh th8 requiremenls ol the Charrtses Act 2011.
Basls for oplnlon
We rnnducted ¢Jur audit in accordance with Intemational Standards on Audrflng IUKI (ISAS (UKII and
8pplicable law. Our iesponsibllrt(es U1￿9r those 3tand8r(Is arÈ furlher ￿e￿￿bad In th6 audftor
responsbllltles for thé audll of the financial statements sectlon of our report. We are independelll of
the ¢hBrNy In arxord4nce wth the ethical requirements that are relevant to our audrt ol the financr
statements In the UK, Indudlng the FRC'S Ethlcal Standard. and wo have luifilled our olher etlical
fesponsibililies in accordance vrith thèsè r8quiremènts. Wo ￿lI9ve Ihat tho audit gvlden¢8 we have
obtained is suffident and approw4te to p￿￿￿8 a b8818 for our opinion.
Conclusions relatlng to golng ¢onc•rn
In au¢Jlting thg finandal stalernents. we have corEdud8d that the trustses use of the golng concem
basis of accounkn'ng In the preparation of the ffinBndal staternents Is approprfate.
Based on the work wa have parfom)èd. we h8v& not idgntified 8ny matèrial uncortalnti8s relating io
events or Cond￿On$ that. indNidually or collectively, may cast signifit2nt dovbl on the charitys 8billty
to witinue 8$ 8 golng oJnc8m for a per￿ of at least Nvelve months from when the original fin8rt¢xal
Statements were authoYis8d for Issua.
Our responslbiliti¢s and th8 wsponsibililies of the trustses with r¢$pe¢t lo golng ¢on¢orn are
dtrscribed in the ￿levant sections of this report.
Other infomiation
The trustees are resporksible for the other information. The other informalion comprlses Ihe
Information induded in the annual rèporL othèr than tha finanaal statements and our auditorfs report
thereon. Our oplnN)n on the fin#ncial stslements does not cover Ihe other infornation and, 0￿pt to
the extent otherwise expliulty stated in our report. we do not express any fom of 8ssurance
conclusion th8r80n.
Page 5

Vlscount Amotys Charftable Trust
Independent Audltorfs Report to the Members of Vlscount Amorvs Charitabl•
Trust lcontinued)
In connectk)n wNh our audlt of the financial statemonts, our responsibility is to read th$ other
Irrfomatlon and. ￿ dotrrfj so. consider ￿8th￿r the othèr inform8Uon is Matarially Irtconsistent swth the
financlal stataments or our knowledge obtalned in thg audit or otheJw5e ap￿arS to b8 materially
misstated. K we identify such material irKonsistencies or apparent material misslalements, we ar8
requlred to determlne whether there is a material misstatem8nt In the financaal ststements or a
rn818ri81 mk$5tatemenl of tho other Infomiation. If, based on the work wfr have performed. we condudtr
that there Is a material mithternent of this other information. we are required to raport Ihat fact.
We havo nothlng to report in thls regard.
Matter4 on whlch we ar• r•qulr•d to r•port by •xceptl¢>n
In the Ilght of our knowledge and understandlng of the c*barity and its environment obtained In the
courso of the audiL we have not id8nofi8d motgrfal misstatgmanls in th8 Trustees, Report.
We have nothing lo ￿port In r6specl of tha folk)wrng matt¢rs %there the Charflles (Accounts and
Report) Regulauons 2008 requlw u3 to report to JDU rf, In our opinlon..
adequate accounting reD)rds have not tjeen kept. or reknms adequate for our audit have not t4en
received from branches not vi$Sted by us.. or
the financial stalements are not In agreem8nl with tho 8c¢ounting r¥cords and relums: c
C￿laIn disdosures of Irustses remuneration specified by law are not made: or
we have not rèceivèd all the information arKI explanations we wuire for our audit
Re8ponslbllltles of trnstg•s
As 9xplain￿ more fully in the Statement of Tru5tses' Responsibili￿s(set out on page 4), thp Iwstees
re responsible for the preparation of ￿ finanaal stalements and tor belng satisfled that they give a
tn￿ and fair view. and for such inlem81 ￿ntrol as the tsuslees detemilne is necessary to enable the
preparation of finanual ststements that are free from malertal misstatemert whethgr due lo fraud or
e(ror.
In prep81ing the finandal statements. the trustees arg r9sponsible for assesslng the tharity's abllty to
o)nlinue as a going concem. disclosing, as applicable. fflatte￿ related to gorng concem and uslng the
golng concom bas￿ of accounting unle55 the trustees either Intend lo Ilquidate tho charfty or lo ￿88
oparalions, or have no realistic amemative but to do so.
Audltor R•sponslbilltles for the audlt of th• financlal statements
Our Obje￿Ve# are to obtsin reasonable assurance abwt whtrlher the financi81 statements as a who
are free froffl material misstalemenl. vthether due lo fraud or error. and to issue 8n 8uditol$ ieport
that indudes our cySnion. Re8sonable assurance is a hlgh lovel of assurance. bul 15 not a guarantee
that an audk conducted in a￿A)rdance with ISAS IUKI ￿￿1 a￿￿y3 detect a moterial misstalement
when It exL8ts. Mlsstatements can arfse from fraud or error and are con$ldered maleilal If. Indfvklually
or Sn the aggrogate, they could reasonably be expected lo Infi￿nCe thfr econ¢)mic de¢i5kJn3 of usets
tskan on the basis of these financial statements.
As part of an audit In accordan￿ wlth ISAS (UK}. we exerclse profesBional judgment * mantain
professional sceptidsm throughout thè audtt. We also:
Id8ntify and assess the rjsks of material misstatement of the finandal statements, wheth8r lo
fraud or error. design and perform audit procedures responsive to those risks. and obtsin audit
gvldence that is Suffiaenl and approprfate lo prowde a baslg for our oplnion. The risk of not
detecting a material misslatement resulting from fraud is highef than for onè ￿SuItIng from effor.
as fraud may Involvo collusbn, forgery. Interttlongl omlssw5. rnisrepresentations, or the override
of intsm81 control.
Page 6

Wis¢ount Amorfs Charltable Trust
Independent Audltorfs Report to the Members of Vlscount Amorfs Charltablo
Trust (continued)
Obtain an undarslandlng of inlemal control relevant to thè audit In ord8r to deslgn audit procedures
that are appropriats in tha C1￿UMStanCes. bul not for Iha purposo of expr8s$lng an opSnlan on th8
effgcfveness of thg Intgmal control.
Evaluate the appropriateness of accoUn￿ng pottCi¥$ Used and the reasonableness of aoxunting
esumates and related dIsclosu￿S made by the trustses.
Conclude on the approprialeness of the trustees, use of tha going con¢8m basks of aLxounUng
and. based on tho audll evidence obtalned, whether a material uncertalnty exists related to 8vents
or conditions that may cast signillcant dvubl on the d)ariW3 ability to continue a5 a going concem.
W we condude that a materral uncertainty exists. we are required to draw attèntlon IN our auditc¢s
rep)rt lo Ihe relBtèd dlsdosures In the finartd81 statements or. if such dlsdosuros are in8dequ8ts.
to modlfy our opinion. Our conduslons are based on the audll 8v&Jence obtalned up lo the dale of
our audrtofs reporL Howevgr. ftjiure events or conditMs may ￿use tha charity to cease to
continu8 as a gc4n9 C4)n¢gm
Evahjale the ov•rall prosentalion. structure and exjntent of ts financial 3tstements, induding tr
disdosurgs. and whether lh8 financial statements ryesent the undertying transactsns and
events wt a manner that achieve5 fair presentation.
Wa Communi￿le Ihose charged with governance regardlng. among oth8r mattws. the planngd
scoptr and liming of the audit and significant Itndlngs, tndudiThJ any signffi¢ant d8ft¢4ende8 In
Intemal control that we Identtfy durlng our aud
Irregularities. Induding fraud. are instances of non-Q¥)mpliance ¥￿th laws and regulations. We desbn
procedu￿$ In Ilne wlth ￿Jr responsiNime5, ouulned above, to detect materlal misslataments In respect
of irrpgulaTitles, Includlng fraud. Tho extent to whleh c*Jr proeedur8s arè capabl• of dètectir
regularttses.
We idenffied aroas of laws and regulauons that could reasonably b8 expected to havg a material
effect on the finanaal statements from our general commercial and sector experience and through
dtscussion wilh the directors and other managemenl. We ojmmunicated idgntilled laws and
regulations throughout our team. and remained alèrt to any indications of non-compli8n¢a
throughout Iho audit
The charlty is subjed to laws and regulations Ihat govem the PTeparabon of the financial
ststtrments, indudlng finanu81 reporting legislation, and olher charitses legislauon. The charfty 1$
also subject to other laws and regulatlons where the cons8qugne•s of non-ry)mpllan¢e could have
a material impact on the amounts or dlsdosurgs wlthln the financlal 8tstBments, Includlng
gmploymenL anti-bribary, anti-money launderfng and certaln aspocts of tharrttes teglslalion
including pubtic bonofft consideration.
ng to th8 inherent limitatlons of an aud￿ Ihore 1$ an unavoidable risk th81 we may nol have
det$¢ted some material mlsstatemènts in thè financial stslements. even though we have properfy
planned and perfom)ed our 3udlt In accordance wth auditing standards. In any audlt. ther•
remains a higher risk of non4I81ecUon of Srregulorities. as th888 may invdve colluslon, f￿ery.
Inlenllonal omlssions. misrepresenlations or Ihe overrlde of Inlemal contrds. We are not
responsSNe for prevenllng non-compliance and cannot be expect￿ to datect non-¢ompllance with
all laws and regulatlons.
A fvrlher descTtption of our resrmsibilities Is available on the Financial Reporting Council's websle
at: www.frc.org.uklaudilorsresponsibilitles. ThSs do$crfpllon forms part of our audiloffs report.
Page 7

Vlscount Amorfs Charitablo Trust
Indgpendent Audltovs Report to tho Mombèrs of Vlscount Amorfs Charitablo
Trust (continued)
Us• of Our r¢port
Thls ieport Is made soiely to the charfty tru3tees. as a bc#ty. In accordance wllh sectlon 144 of the
Chariiigs Act 2011 and regulaltons mado und9r $9cllon 154 of that Act. Our audit work ha5 been
undertaken so that we might stats to tha trusteès thoJ8 matter8 w8 ara requlred to state to tru8le8s In
an audliors, report and fcr no other purFose. To the fiJlle5t extent pemllted bylaw. we do not accept
or assume responsibility lo anyone other than th8 charity and its trusts85 as a body. for our audit
work. for this report. or forth8 opink)ns we havo fomièd.
Westcoits ISWI LLP.
Statuiory Audltor
47 Boutpclt Street
Bamstaple
Devon
EX31 1SQ
Datg:..2fj.......Tè.nJ*
Page 8

Vlscount Amorys Charftable Trust
Statomanl of Flnanclal Adlvltles for the Yaar Ended 5 Aprll 2024
Unrestrlcted
funds
Endowment
fund8
Total
2024
Total
20ZJ
Not•
Incom¢ and Endowments from:
Investment Incomo
473,145
473.145
506,752
Total in¢om
473.145
473.145
506,752
Expendtture on:
Raising lunds
Charftable ￿1vIt
180,190)
492.036
(80.1WI
492.036
184.019)
414,287
Totsl 8yndliure
Net expendtturBlpmfft
before investment
galnsllloss8s}
Galnslllos$851 on
investment a55ets
1572.226
572,226
498.306
199.081)
{99,0811
12.711
12.711
1.300,202
Nel expenthture
R•ronelllatlon of fund$
186.370)
(86.3701
{1,291,7561
Total frjnds brought lorward
Total fijnds ￿Med forn¥ard 16
12,540,428
312.500
12.852.928
14.144.684
12,454.058
312.5CQ
12.766.558
12.852.928
l of the ¢harity'8 acbvltses derive from contlnuing operntions during the above p8ri0ts.
The funds breakdown for2023 is shown in note 16.
The notes on p8gos 11 to 20 forffl an Integral part 01th￿ Ilnandal sLth8nts.
Page 9

Vlscount Amorfs Charltablo Trust
{Registratlon number: 2049581
Balance Sheat as at 5 April 2024
2024
2023
Flxod 33*ots
Inve8lments
12.619.292
12,686,150
Cuyrnnt a8S•t8
Debtor3
C8sh al bank ond kn h8nd
12
13
20.180
185.869
12,072
184.429
186.049
196,501
Credftors: Amounts lallln9 du• wlthln one y•ar
Met cuTrtrnt assets
14
38,783
29.723
147.286
166.778
12,766.55B
12.852.928
Funds of th• ¢harlty:
Endovmi¢nt fund•
312.500
312AOO
Unrestrlcted InGom• funds
Unrestdcted funds
12,454,058
12,540,428
Totsl fund*
16
12.766.558
12.852.928
The fi
ncial stalements on pages 9 to 20 were approved by Ihe INslees, and auihoris¢d for Issue on
and signed on their behalf ty.
Slr lan Ho0th¢(i#t Amory. Bt
Trustee
Th& notes on pagss 11 ta 20 fom an Integral part of these fin¥nd81 statements.
P8gg 10

Viscount Amorfs Charltable Trust
Notes to the Flnanclal Statements for the Year Ended 5 Aprll 2024
1 Charlty $tatu$
Vlscount Arno￿8 Charitsble Trust Is a thÈrity registered kn England w6th1n the Unttgd lfjngdom.
The address of its register￿ office is.,
The1818nd
Lowman Green
riv¢rton
Devon
EX16
2 A¢¢ountlny polkl•s
Statsm•nt of compllanc•
The financial statements have been prgpared in accordance ￿1h Iho second edition of the Charibes
Statement of Recommended Prad¢g Issued tn October 2019. the Finandal Reporting Standard
applicable In thg United Klngdom and Republic ol Ireland IFRS 102) and the Charities Ad 2011.
Basls of preparatlon
WLscount Am0￿S Charttabl8 Trust meets the definition of a public bènefft èntrty under FRS 101 The
8c¢ounts lfinan¢lal slatamentsl ha￿ been proparad under the histori￿1 cost (xJnvantlc￿ wlth items
re¢ognls8d al cost or Iransactk)n walue unloss 01he￿I$9 stated In the relevant note{$) to thaso
accounts.
Ex•mptlon from prep4rlng a cash flow statemènt
The charity has taken the exemptTon urKler FRS102 Ch8rfty SORP from preparrng a c88h flow
statement as it is dassed as a small tharity.
Going conrAm
The trust8es consider that Ih•ro are rK* malerlal unegrtalnlles about the charitys abirty to conunue as
goirtg concem.
Income and endowment6
l ￿n￿mIng resources are ind￿18￿ In th6 Statement of Fknanctal Activitie5 when the tharity Is legal
entlued lo the income after any performance Cond￿.0￿3 h8ve been met. the amc4Jnl be measured
reliobly and rt ts probabl& that the Incomo wlll be recelved.
Donatlons and lagacl
For incoming donations lo be recognised the charity have been nobfied of the am¢)unts and
settlement date in writing. 11 therg are conditions attached to the donatlon and this requires a 1g¥el of
performanca before enlitlgment Can b8 obtsined then income Is d8ferre(l until those condit￿nS are
fully met or the fvllllment of those conditions Ls wlthin thè control of the charity and it is probable that
Ih9y VAII bo fulftllgd.
Pa￿11

Vlscount Amorfs Charltable Trust
Notss to Ihe Flnanclal Statements for the Year Endgd S Aprll 2024 {continuedl
Inv•stmont In¢ome
Investment incomg is oamod through holding assots for Investment purposes such 88 sh8rn& It
Includes dlvld8nds and Interest. Inv&stment incoTh Is included when thè amount can be mea5ur8d
reliably. Interest income is recognis8d using tho effec*ve inlere8t method and dNidend income is
recognised when the charity$ ￿h1 to fo¢8ivg paywent Is establlshed.
Exp•ndliur•
All expendilwe bs recognlsgd once there Is 8 lega or ¢onstrucUve O￿lgatIOn to make that &xpenditurg
8nd the amount ¢an be measured reliably. Al costs are allocated to the applicable expènditure
heading that aggregate similar costs to that category. Where cosls ￿not be dirediy attrlbuted to
parti(JJlar headlngs thay have been allocated on B basls conslstenl Yhth the uso of r8sources.
Ralslng fund¥
Thesè are costs In￿rred in the management of investrnents.
Chaiylabla 4etlvltlas
Charitabte eyp8ndituTe comprfsos thos8 costs Inojffed by the charity in the delNery of its acthvilles
and ServI￿S for its benefidartes, pmcipally grnnts mad8 or notified. It indude5 both cosls that can be
8Trocated dFf8Ctly to Suth adwities and those costs of an indlrecl nature ngcessary to support them.
Grantprovlslons
ProwsKJns for gr8nts aro mad8 when tho Intention to make a grant has been communi¢al8d lo th&
reopienl but thoro is uncortalnty about either the tÈmlng of the grant or the am0￿1 of grdnl payablo.
Gov8Tnancg costs
These indude the costs attributable to Ihe tharitys compliance with consutttticqwl and stalutuy
requirements. Indudlng audit. strategic management and trustees meelings and reimbursed
ey4)enseg.
Flx•d asset Investments
fixèd 8s$8t In¥oslments aro induded al market valug at the balance sh8et dale. Re#lisod gains and
losses on investments are calculated a5 thg differènco ba￿￿en sal8s proceeds and thèSr merk
value at the start of the year. or their subsequent (xjsl. and are chargad or ￿￿lted lo Ihe Ststsment
of FinanLial A¢Uvhbe¥ in the perk)d of disposal.
Unrealised gains and losses represent the movement in rnarkel values during the year and aTO
credoted or ¢l)arged lo Ihe Stalernent of Finanry¥l Activiues based on the markel valuè 8t the year end.
Cash and cash equlvalents
Cash and cash equlvalents comprise cash un harml and call deposits, and other short4ern hbhly
Ilquid investments that are readily conveitible to a known 8mounl of cash and are 8ublac¢ tu an
Inslgnlficant risk of thange wi valug.
Fund structurg
Un￿trIcted income furHls are general fund$ Ihat are available for use al the trustees, disuel￿ in
fijrthernnce of the objectwe5 of th8 charity.
Pag9 12

Vlscount Amotys Charltable Trust
Notes to the Flnanclal Stateménts for the Year Ended 5 Aprll 2024 (rontlnued)
Designated funds are unrestrfcted fvnds set aside for specmc purposes at the dlscretlon of Iha
fDJstees.
Endowmgnt funds represent those assets which much b8 held p8mwnètty by th6 eharlty, prfnclp8￿V
certain Invesfments. Income arfslng on the endowed assets can bo used In a￿￿rdance wilh tho
objects of the charity and is induded as unffjstricted in(x)me. Any capital gains or losses arfslng Orb the
Investments are 81s0 Induded induded in unrestricted irKome. In￿stment management charges and
legal advico relaUng to ihe frjnd are charggd against unrestrlcted funtjs.
Flnanclal InstNmonts
Classllkation
Finanaal assets and flnanc4al Ilablllttes are recognised when tho ¢harfty bocomes a paty to th8
contractual provisions of the instrument.
Flnandal Ilabmlties and 8qLLIty Instrumants aro do￿lfi9d ac£ording to trt8 substance of the ￿ntra(lUa1
avrongem8nts enterad into.
R9￿gnI￿on andmeasurement
All flnanoal asget$ and Ilab114tle$ ara initialty méasurgd at transaction prfce lindudlng transaction
Ca)5ts), except for Ihose financial assets da5sified as at fair value Ihrough profft or105s. which are
initialty ffleasured at fair value (which is nomially the transaction price exduding transaction costs).
unless the affangement con$tituteg a flnanc4ng transacuon. If an arrangement constitut6s a financing
trdnsaction, tho financial asset or finanual liabilty is measured al the present value of the future
pa￿eTrts discounted at a market rate of interest for a 3imi18r debt Instrument.
Flnanoal assets and Ilabllllles ara only offset In the staternent of finan(xal poslllon when. and only
when. there exlsts a legal￿ enforceable right lo set off the recognlsed amounts 8ntl the charSty kntends
eltrer to sethe on a net basls. or to realise ts a&s818nd sott18 tha liabillty simultaneou$ly.
Flnancial assets are doreeogniswj when aTrJ only when a) th8 contractual rfghts to ttTe cash Ilows
from the Ilnandal ass¥t axpire or are sellled. b) the charity transf8rs to arLQthgr patty subsiantially all
of the risks and rewards of ownership of Ihe financial atsèt, or c) the charity. despite h8￿ng rgtalned
some. but not all. slgnfficant r￿kS and rewards of ownershlp, has Iransferred control of ihe assel to
another paty.
Financial liabilllles are derecogntsed only Ythen the obl￿?110n spgdfted in the contract 1$ dlscharged.
Cancelled or explres.
Inv•slments
Invgstments In non-tr)nverlble prefe￿nCe shares and non-puttable Ofdlnary or preference shares
(where share8 are publicty traded or thelr falr valu& Is rellably measurabltrl are maasu￿d at fair value
through profrt or loss. Where fair value cannot be measured reliabty, investments 8re measured al
co$l1088 Impalrmenl.
Falr valu• m•asurnnent
The best evidenco of fair value 15 a quoted prfc8 fer an identical asset in an active market When
qLtoted prices 8ra unavallabla, the price of a recent transaction for an identical a&8el prowdes
evidence of tsir Wdlue as long as Ihere h85 not been a significant thang8 In oconomlc clrcumstances
or a slgnificant lapse of ¢tme slnce the transaction look pla￿. If the market is not a¢tNe and recènt
ansactlons of an Identical asset on their own afe not a good esllmale of falr value. the fair value is
èsttmaled by uslng a valuation tsthntqu&.
Po9e 13

Vlscount Amorfs Charltable Trust
Notes to the Flnancial Statements for the Year Ended 5 Aprll 2024 {contlnued)
3 Inv•stment In¢om•
Total
2024
Total
2023
Incom8 from listed inveslrnents
Income from other unllsted Inveslrngnts
Propèrty incomo divtdends
Interest on stc¢k
Inleresl on deposlt w5th stockbrokers
Forekjn Dlvjdends - quotèil shares
201,420
1,173
17.187
139,107
18.537
95,721
473.145
239.596
9,371
122.173
4,268
97.781
506,752
Al Investrnent Inojme relates to unrostricted funds.
4 Expgnditurn on rahlng fvnd3
In¥￿trnent managèment ¢o$ts
Total
2024
Total
2023
Portfolki m8nagament Costs
80.190
84,019
80.190
84.019
I Investrnent management costs wlats to Un￿StrICted fund&
5 Exp•ndltur• c*n charltsbl• aetfvlttes
Total
2024
Totol
2023
Grnnt fundiry of a¢b￿tI￿¥
Support c)J8ts
482.518
9.518
4.631
492.036
414.287
l expendliure on charrtable actNNtes relatss to unrastrlcied ft5nds.
Paye 14

Vlscount Amorfs Charltable Trust
Notes to Ihe Flnanclal Statsments for the Year Ended 5 Aprll 2024 {contlnued)
6 An#tysl¥ of g¢)veman¢e and Jupport ¢0gts
Support CO8ts allocated to charltable actlvltles
Total
2024
Total
2023
Bank Charges
Website ￿sts
Audit fees
A¢¢ountsncy fees
TnJ$lees' expenses
140
3,560
378
347
9.518
4.631
7 Grantvmaklng
Analysls of 9rnnts
Grnnts to Instltutlons
2024
2023
Grntlts to Indmduals
2024
2023
Analysis
Edueational
General - sodal and
enwronment81
General - health
General- rdlef of poverty
RelwJlo
218.228
209,9n
6.915
209,729
12,97S
11.321
20,￿0
472.253
158.121
9.745
2.8
500
2,070
14,600
10.265
10,578
The total number of grants payable lo Individuats durfng the year vrn$ 14 {2023:171 and the totsl valuo
amounted to £10.265 (2023- £10,578).
Page 15

Vlscount Amory's Charltable Trust
Notes to the Flnan¢lal Statements for the Year Ended 5 Aprll 2024 (contlnued)
Grants of £5,000 or above glven to instilutlans
2024
2023
Educ•llonal
Birkenhead s(*¢)ol
Blundell's sthool
Blundell's lknpatory Stho
Devffl County Council
Exetsr Cathedral Stho
Tubws Acad8my Lld
13,800
65,249
6.000
12,(1]O
5.0
44.700
12,258
42,250
5.670
132.969
128,707
Gon•ral- Soclal & Envlronm•ntsl
Rona Saillng Project
Heathcoat Cricket Club
Tlyerton Musgum of Mld Devon Lif8
124.600
110,51K)
24.000
153.6CVJ
110.500
Gener31- Health
G•nwal. R•llef of Povorty
Churches Housing Action Team
Exeter Cathedral
St Peterfs Church. fwerton
5,000
15.000
301.569
239,207
B Trustw rgmuneratlon and expens•¥
During the year thè charity m8d0 lh8 following transact#)ns with trustees:
Travel expenses totaulng £378 (2023'.£3471 were paid to 1 TTU3tee. No remungratlon was pa•J to any
Trustee.
9 Auditors, remuneratlon
2024
2023
ALtdit of the ttnandal slatern8nts
3,560
10 Taxallon
The chartty is a rggi$tsrsd charity and is therefore exempl frorn taxal*Jn.
Pagg 16

V18count Amorfs Charltable Trust
Notss to the Financlal Statemonts for the Year Ended 5 Aprll 2024 (contlnued)
11 Flx•d ass•t Inve8tm•nts
Llstèd
Unli$t
Investments InveBtmonts
2024
2023
Cmt orvaluatlon
At 6 April 2023
Revaluation
Additions
05sposaLg
11,197.349
196.725
2,794.776
2,630,521
936.291 12,133.640
(80.973)
115,752
2.794.TT6
2.630.521
13.787,431
{924.6301
3,818,796
4.547.957
At 5 April 2024
Cash h8Jd as part of investrnent
fvnds
11.558.329
855.318 12.413.647
12.133.640
205.645
552,510
11.763.974
855.318 12,619.292
12.686,150
Hislorrcal cost
11.395,962
46.488
11,442.450
12,015,725
12 Debtors
2024
2023
Othar d8btors
12.072
13 Cash and cash equlvalents
2024
2023
Cash at bank
165.869
184.429
14 Crèdltors: amounts falllng due wlthln one year
2024
2023
Olhercreditors
Awuals
32,183
25,523
4.200
29.723
15 Commlthlents
Pledges of COF]Unued support have been made by the truslee3.' these afflounled to £320.85912023:
£358.191) al the balan¢9 sh981 dale. Sndudlrvj 8n unqu8ntifiablg contingency ralatiThJ to school fees
for a numbar of pupils.
These comfflitments havo nol ygl been provlded for in the 1Snancial slatem8nts as they aro
ccfflditional.
Page17

Vlscount Amorfs Charitable Tru$1
Notes to the Flnanclal Statements for the Year Ended 5 April 2024 (continued}
16 Fund•
oth•r
rocognlsed
gainsl
Ilo$ses>
Balancè
at 6 Aprll
Incomlng Resourc
2023 resources Upended Transfer¥
BaSanee
at S Aprfl
2024
Unr¢strlct•d fund8
General
General Funds 12.373,650
Designatsd
Funds
473.145
(243,8881 1308,8261
12,711 12,306,792
186.TT8
328,338
308.826
147.266
12.711 12.454,058
12.540,428
473.145
{572.2261
Endowmgntfvnd¥
Pgmianollt
Thg Trust Fund
312,500
312.
Totsl funds
12.852.928
473.145
572.226
12,711 12.766.558
Pa98 18

Vlscount Amorfs Charltabla Trust
Notes to the Financlal Statoments for the Year Ended 5 Aprll 2024 (contlnuod)
Oth•r
recognl8ed
galnsl
(10$8•s>
Balance
at 6 Aprfl lTh¢omlng Re8our¢es
2022 wesoufces
expended Tran8fers
at 5 Aprll
2023
Unr•stsSctsd funds
Gon8ral
Go￿ra7 Fund¥ 13,808.992
Designated
Funds
506.752
{175,7551 {466,137} (1,3W.202} 12.373.850
23.192
322.551
166,7T8
13,832,184
506.752
1498,306)
(1,300,202) 12.540.428
Endowmont fund•
P•rnianont
The Trust Fund
312,500
14,144,684
312.9)0
Total fvnds
506.752
498,306
1,300,202
12,8S2.92B
The specrftc purposes for %thteh Ihe funds are to be applled arg 8$ follows:
Tho funijs of the charity include the abova deslgnated arnounts which have been set aslda out of
unrestricted funds by tha Trustees for 5pgcffl¢ purposes and nottfied to the potential benefldaries but
payment of whlch may not ¢ome to pass.
17 Analysls of n•t assèts b8tw89rt funds
Endowmont
funds
P•miangnt
Total fund¥
at S Aprfl
2024
Unrestrlcted funds
General
Oeslgnated
Flxed asset Invastrnents
Current ass9ts
Currgnt IlabllTtles
12.300,792
312.500
12.619.292
186,049
38.783
188.049
38,783
147.266
Totsl not assets
12,306,792
312.500
12,766,558
Endowment
funds
P•mian•nt
Total funds
at 5 Aprll
2023
Unr¥strf¢l¢d funds
General
Designatod
Fixed asset inves¢ments
Clvrent assets
Current liabilittes
12,373,650
312,500
12,886,1
196,501
2S.723
196.S01
29,723
Total net assets
12.373.65)
312.500
12.852 928
Pa90 19

Viscount Amorfs Charltable Trust
Noto5 to the Flnanclal Statsmonts for the Year Ended 5 Aprll 2024 (contlnued)
18 Rglat8d party transactlon•
Slr lan Heathcosl Arnorfs parsonal shareholdlng In Iha fdliythng unllsted Investsments. kn whith
Wist¥)unt Am0￿S Charitable frust also has a h(Adlng, 1$:
London & Devonshire Trust Ltd ~ 5.84%
Lovman Manufacbjring Company Ltd- 6.67% {He i8 also a dlr8Ctor of thls company)
thjring the ypar the charity donated tr*tsl grnnts of £124,6(M) {2023.' £110,500) to The Flona Trust
(charity number 10730481 also knoym as the Rona Sailing Project. Mr Wlllkni Heathc>)at Arnory. $on
of Sir Ian Heathco8t Amory, 18 a trustee of Thè Rona TnJ$L
Grants to tho Rona Saillng Prolgct Idlow thè samè approval protoDJl as any oth8r grnnt Apwow Is
CU51omarity gNen.
Grants to the Rona Sallng Project Includo a contrlbutlon to thelr annual dlnner.
The Trust I￿S agrged to d￿ale a total of £77.400 pa￿ble over 7 yeais to Birkenhead School for the
education of Emily and Edward Grovgs. who are grandchildren of Mrs Catherine Elinbeth Cavender.
The Trust donatay £1.479 to The Leamiru T￿e Academy for nursery fees for Theo Gmves. who is a
grandthikl of Mrs Cath•rino Elzabelh Cavendar.
Th9 Trust made a donation of £1,800 (2023:£1.9001 to Ihe Ludovic Amory Trus( of whth Sir lan
Haathcoat Amory Is a Trust90, tOW8rds tharitabie donations modo by that Trust.
Page 20