Registered number: 00500208 Charlty number.. 208455 THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) CONTENTS Page Reterence and administrative details ot the Company, its Irustees and advlsers Trustees, report Independent examiner's report Statement of financlal activitles Balance sh•8t Notes to the financial ststements 10-18 The following pag8s do not form part of the statutory financial statements.. Balance sheet for &r Garrard Tyrwhltt-Drake Will Trust 19
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees S F Knatchbull, Chairman D.T.B. Wigg Esq. L.J. Martin Esq. S.A. Beck Esq. M Sharp M Startup FCA s Jordan K A Moule M C Essex F J Davis (appointed 25 January 2023) Company registered number 00500208 Charity r6glstered number 208455 Registered office Victoria Court 17-21 Ashford Road Maidslone Kent ME14 5DA Company sècretary M.H. Richards Independent examiner Duncan Cochrane-Dyet MHA Victoria Court 17-21 Ashford Road Maidstone Kent ME14 5DA Bankers National Westminster Bank plc Maidstone Solicitors Whitehead Monckton Maidstone Page 1
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together with the financial statements of the Company for the 6 April 2023 to 5 April 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wilh the current statutory requirements, the requirements af the charitable companls governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo charities preparing their accoLJnts in accordance with the Financial Reportino Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. In prepanng this report, the Trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006. Objectlves and activities a. Policies and objectives The principal activities of the Trust during the year have been the support of charitable organisations within the Maidstone area and development of Cobtree Manor Estate. The Trustees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. b. Grant-maklng policies The Trust has established its grant making policy to achieve its objectives for the public benefit. The Trust makes grants to Charities and good causes based on the merits of the grant applications received with regard to the aims of the Trust and their benefit lo the public. Achlèvements and performance Key performance Indicators The financial slal8ments show a gain for the year of £387,28712023'. £670,674 deficit}. There was an increase in market valuation of investments of £511,593 12023.. £439,196 decrease), and a deficit of income over expenditure of £154,73712023.' £139.071). The total income of the Trust for the year was £181,942 12023.. £172,284) which represents an increase of £9,658 on the previous year. The totsl amount expended at Cobtree was £336,679 12023.. £311,355) and charitabl8 donations for the year amounted to £286.02312023.' £263,128) Page 2
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Achlevements and performance Icontinuedl Financial review Golng concern The TnJstees have reviewed the Trust's forecasts and projections along With current economic data and forecasts. The trustees are confident that the charity will be abl& lo remain operational without having to make any significant changes to their investment or grant strategies. The Trustees have a reasonable expectalian that the Trust will have adequate resources to continue in operational existence for the foreseeable future as well as having sufficient money available for donations. The Trustees have decided not to cash in any investments during this time to provide emergency funding to charities in desperate need. The Trust therefore continues to adopt the going concern basis in preparing its financial statements. b. Reserves pollcy The Trustees regularly review the reserves of the Trust. This review encompasses the nature of the major income and expenditure streams, the need to match income and expenditure, and the nature of the Trust's reserves. The Trust's principle source of funds is the incorme from the investTnent portfolio, The Trustees have concluded that, to enable the Trust to continue to meet ils objectives, an unrestricted general reserve should be maintained so as lo enable the underlying investment portfolio to be maintained in value and income oeneration in real terms for the foreseeable future. Additional capital growth over and above this objective would be retained within the Trust 50 as lo increase the level of annual disposable income for future years. Any donations made and any costs relating to the managmenl and administration of the Trust should, as far as possible, be funded by the income from the investments held by the Trust, No specific measures to encourage donations are envisiged at this moment in time. The nature of investments held will be reviewed as necessary, in order that the income stream will cover future expenditure. Structurè, governance and management Constitution The Cobtree Charity Trust Limited is registered as a charitable company limited by guarantee and Ihe registered charity number is 208455. Page 3
THE COBTREE CHARITY TRUST LIMITED IA company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure, governance and management Icontinuedl b. Methods of appolntment or electlon of frustees New TrusteeslDirectors are appointed by the existing board at a meeling of the Committee. The Comrnittee shall have power at any time, and from time to lime, to appoint any person to be a member of the Committee, either to fill a casu81 vacancy or as an addition to the existing members of the Committee, but so that the total number of members of the Committee shall not at any time exceed any maxirnum nurnber fixed in accordance with the Articles of Association. Any member so appointed shall hold office until the next following Annual General Meeting, and shall then be eligible for re-election, but shall not be taken into account in determining the members of the CoTnmittee who are lo retire by rolalion at such meeting. No person who has reached the age of 75 shall be appointed a member of the Committee and an existing member of the committee who has reached the age of 75 shall retire at the next Annua5 General Meeting held by the Trust after they have reached the age of 75. At every general meeting one third of the mernbers of the cornmitlee shall retire from office. These shall be those who have been the longest in office since their last election. A rpliring member of the committee sha11 be e1eigible for re-election provided they have not reached the age of 75 years. The Trust may from time to lime by ordinary resolution increase or reduce the number of members of the committee. The Trust may by ordinary resolution, of which special notice has been given, remove any rnember of the commiltee before the expiration of their period in office. Organisational structure and declslon-maklng policiès The Trustees hold four meetings a year at which they conduct any business. The day to day affairs of the Trust are dealt with by the Chairman. The investments are held in accordance with the Trustees, powers. In the opinion of the Trustees, the funds can meet any future obligations. The Trust is also administrator for the Sir Garrard Tyrnhitt-Drak6 Will Trust, on behalf of Maidstone Borough Council, details of which are given in the notes. d. Rlsk management The Trustees regularly review the major risks which the Trust may be exposed to and in particular those relating to the operation and finances of the Trust. The Trustees are satisfied that maintaining the unrestricted general reserves at the current level will provide sufficient resources the fores*9e8ble future. The investments are reviewed frequently by a sub-committee and the stockbrokers advising the Trust. The investments are deemed to be a moderate risk. Plans for future periods The Trustees will determine future giving levels after due consideration lo any changes in the financial situation of the trust along with current economic data and forecasts and will pay particular attention to the guidance provided by their financial advisors. Page 4
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee} TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Statement of Trustees, responsibilities The Trustees {who are also the directors of the Company for the purposes Df campany lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial slalements for each financial Under company law, the Trustees Inust not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgerllents and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trust8es are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any lime the financial posilion of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. S Knatchbull Chairman Date.. M. Startup Trustee Page 5
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent examiner's report to the Trustees of The Cobtree Charity Trust Limited ('the Company'l I report to the charity Trustees on my examination of the accounts of the Company for the year ended 5 April 2024. Responsibilities and basis of report As the Trustees of the Company (and its d%rectoYs fo¥ the wrpo6e6 d cofiipany law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 2006 {'Ihe 2006 Act'l. Having satisfied myself that the 8ccounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Companys accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination., or the accounts have not been prepared n accordance with the methods and principles of the Slatem&nt of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 My work has been undertaken so that I might state to the Company's Trustees those matters l am required to slate to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do nol accept or assume responsibility to anyone other than the Company and he Company's Trustees as a body, for my work or for this report. Signed: Dated.. 05 November 2024 Duncan Cochrane-Dyei BSC BFP FCA MHA Maidstone United Kingdom Page 6
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 5 APRIL 2024 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Investmenls Other incorne 181,102 840 181,102 840 171,504 780 Total income 181,942 181,942 172,284 Expendlture on: Management fees Charitable activities 37,054 299,625 37,054 299,625 36,100 275,255 Total expenditure 336,679 336.679 371,355 Net expenditure before net gainslllosses) on investments Nel gainslllosses) on investments 1154,7371 542,024 1154,737) 542,024 (139,071) (537,603) 10 Net movement in funds 387,287 387,287 (670, 674) Reconclliation of funds: Total funds brought forward Net movement in funds 7,960,169 387.287 7,960,169 387,287 8, 630, 843 (670, 674) Total funds carried forward 13 8,347,456 8,347.456 7,960, 169 The Statement of financial activities includes all gains and losses recognised in the current and prior year. The notes on pages 10 to 18 form part of these financial statements. Page 7
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 00500208 BALANCE SHEET AS AI 5 APRIL 2024 2024 2023 Note Fixed assets Tangible assets Investments 100 100 7,567,340 10 8,111,288 8,111,388 7,567,440 Current assets Deblors 2,030 168,278 80,580 10,527 101,347 294, S55 Investments Cash at bank and in hand 250,888 406,529 Creditors.. amounts falling due within one year 12 114,8201 (13,800) Net current assets 236,068 392, 729 Total net assets 8,347,456 7,960, 169 Charity funds Restricted funds 13 Unrestricted funds 13 8,347,456 7,960, 169 Total funds 8,347,456 7,960, 169 Page 8
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER., 00500208 BALANCE SHEET (CONTINUED) AS AT 5 APRIL 2024 The Company was entitled to exemption from audit under section 477 ofthe Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Truslees acknOedge their responsibililies lor complying with ihe requirements of the Acl with respecl lo accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The financial statements were approvèd and aulhorised for issue by the Trustees and signed on their behalf by.. M Startup FCA S Knatc 11, Chalrman The notes on pages 10 ta 18 form part of these financial statements. Page 9
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice app1cable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 Section 1A) and the Companies Act 2006. The Cobtree Charity Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or trangaclion value unless OtheISe stated in the relevant accounting policy. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. 1.2 Company status The charity is a company limited by guarantee. The rnembers of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The address of the registered office is Victoria Court, 17-21 Ashford Road, Maidstone, Kent ME14 5DA. The nature of the charity's operations and principal activities are to support charitable organisations within the Maidstone area and development of Cobtree Manor Estate. 1.3 Going concern The Trustees have reviewed the Trust's forecasts and projections alang with the current economic data and forecasts. Whilst these uncertainties remain the trustees are confident that the charity will be able to remain operational without having to make any significant changes lo their investment or grant strategies. The Trustees have a reasonable expectation that the Trust will have adequate resources to continue in operational existence for the foreseeable future as well as having sufficient money available for donations. The Trustees have decided not to cash in any investments during this time lo provide emergency funding to charities in desperate need. The Trust therefDre continues to adopt the going concern basis in preparing its financial statements. 1.4 Income All income is recognised once the trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable Gan be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investmènt income is receivable. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be rneasured reliably. Page 10
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Icontlnued) 1.5 Expendlture Icontlnuedl Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the trust's operations and costs relating to the governance. 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by th8 trust., this is normally upon notification of the interest paid ar payable by the Bank. 1.7 Tangible fixed assets and depreclatlon The Freehold Land known as Cobtree Manor Estate which is subject to a 999 year lease to Maidstone Borough Council has been included at a nominal value of £100. This represents the original cost of the Freehold of £25,191 less compuls8ry purchase compensation at £1 and £25,090 written off. A review for impairment of 8 fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls beleen the carrwng value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. 1.8 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured al fair value al the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Slalement of financial activities. 1.9 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at bank and in hand Includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page11
THE COBTREE CHARITY TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policles (contlnuedl 1.11 Llabllltles and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a resull of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount It has received as advanced panentS for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. 1.12 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Critical accounting estimates and areas of judgement No estimates or judgements have been made by management in preparing these financial statements. Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income 179,368 1,734 179,368 1,734 170,567 937 Bank interest Total 2024 181,102 181,102 171.504 Total 2023 171,504 177,504 Page 12
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Other income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Management fee - Will Trust 840 840 780 Total 2023 780 780 Investment management costs Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment management fees 37,054 37,054 36, 100 Total 2023 30,100 38,100 Analysis of expenditure by activities Activities undertaken dlrectly 2024 Support costs Total funds 2024 Total funds 2023 2024 Charitable activities 286,023 13,602 299.625 275,255 Total 2023 263,128 12,127 275,255 Page 13
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expenditure by activities (continued) Analysls of dlrect costs Total funds 2024 Total funds 2023 Activltles 2024 Donations 286,023 286,023 263, 128 Total 2023 263. 128 263, 128 The total donations of £286,02312023.' £263,128) were from unrestricted funds. Analysis of support costs Total funds 2024 Total funds 2023 Activities 2024 Accountancy Fees re. 8ookkeeping Independent examiner's remuneration Secretarial fees 2,011 4,705 6,013 873 2,011 4,705 6,013 873 1,781 4,497 5,000 849 Sundry Total 2024 13,602 13,602 12,127 Total 2023 12,127 12,127 The total support cost of £13,60212023.' £12,127) was from unrestricted funds. Independent examinerfs remuneration 2024 2023 Fees payable to the Company's independent examiner for the independent examination of the Companvs annual accounts 4,705 4,497 Page 14
THE COBTREE CHARITY TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 5 April 2024, no Trustee expenses have been incurred (2023- £NIL). Tangible fixed assets Freehold property Cost or valuatlon At 6 April 2023 100 At 5 April 2024 100 Net book value At 5 April 2024 100 Al 5 April 2023 loo £100 nominal value relates to the 999 year lease to Maidstone Borough Council. Page 15
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 10. Fixed asset Investments Listed Unlisted Investments investments Total Cost or valuatlon At 6 April 2023 Additions 7,487,340 1,530,873 11,498,518) 511,593 80,000 7,567,340 1,530,873 11,498,518) 511,593 Disposals Revaluations At 5 April 2024 8,031,288 80.000 8,111,288 Net book value At 5 April 2024 8,031,288 80.000 8,111,288 A15 April 2023 7,487,340 80,000 7,667,340 Investments at market value comprise: 2024 2023 Fixed asset investments 8,111,288 7,567,340 8,111,288 7,567,340 All fixed asset investments are held in the UK. During the financial year, gains on investment valuation totalled £511,593 12023.. £439,196 losses) and gains on disposal of investments totalled £30.431 12023.. £92,407 losses). Page 16
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. DebtOT5 2024 2923 Due after more than one year Other debtors 7,500 7,500 Due within one year Other debtors Prepayments and accrued income 1,620 410 2,554 473 2,030 70,527 12. Creditor5: Amounts falling due within one year 2024 2023 Accruals and deferred income 14,820 13,800 13. Statement of funds Statement of funds - current year Balance at 6 April 2023 Gainsl Balance at 5 (Losses) April 2024 Income Expenditure Unrestricted funds General Funds 7,960,169 181,942 {336,679) 542,024 8,347,456 Statement of funds - prlor year Balance at 6 April 2022 Gains/ Balance al (Losses) 5 Apnl 2023 Income Expenditure Unrestricted funds General Funds 8,630, 843 172,284 (311,355) (531, 603) 7,960, 169 Page 17
THE COBTREE CHARITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 14. Related party transactions At the balance sheel date £1,62012023 - £2,554) was due from The Sir Garrard Tyrwhitt-Drake Will Trust and is included within other debtors. A management fee of £840 {2023 £7801 was receivable from The Sir Garrard Trywhitt-Drake Will Trust and is included within other operating income. Following the death of Lady Edna Tyrwhitt-Drake the terms of the agreement betwe8n The Cobtree Charity Trust Limited and Maidstone Barough Council dated July 1971 have become operative. Under this agreement, the Charity has covenanted the capital and 97'/2°1o of the income of The Sir Garrard Trywhitt-Drake Will Trust to Maidstone Borough Council to be used for the upkeep and maintenance of Coblree Manor Estate. The Charity administers the Will Trust on behalf Df Maidstone Borough Council. Accordingly the Trustees consider it inappropriate to include the transactions of this Fund within the main body of the charity's financial statements. However, the Balance Sheet of the Fund as at 5 April 2024 has been reproduced on Note 16. 15. Taxation The company is exempt from corporation tax on its Gh8ritable activities. Page 18
THE COBTREE CHARITY TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 16. BALANCE SHEET FOR SIR GARRARD TYRWHITT-DRAKE WILL TRUST AT 5 APRIL 2024 2024 2023 ESTATE ACCOUNT- UNRESTRICTED FUNDS 2,047,805 1,907,315 INCOME ACCOUNT COBTREE CHARITY TRUST LIMITED Balance at 6 April 2023 Share of income Add.. Deposits Less.. Withdrawals 2,554 840 887 780 887 1,774 Balance at 5 Aprll 2024 1,620 2,554 MAIDSTONE BOROUGH COUNCIL Balance at 6 Aprll 2023 Share of incom8 30,437 .754 34,596 30.437 63.191 65,033 Less.. withdrawals 30,437 34,596 Balance at 5 April 2024 32,754 30,437 2,082,179 1,940,306 REPRESENTED BY: ESTATE ACCOUNT Investments Investments cash deposits Amount due from Income Account 1,959,083 11,569 77,153 1,816,167 21,907 69,241 INCOME ACCOUNT Amount due to Capit81 Acc£)vnt Cash al Bank Other Debtors Less., Other Creditors 177,1531 116,535 169.2411 106,891 5,008 4,659 34,374 32,991 2,082, 179 1,940,306 Page 19