REGISTERED CHARITY NUM8ER: 208567
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEmETr￿s
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
THE ACU BENEVOLENT FUND
Magma Audit LLP
Chartered A￿OUntantS
Statutory Auditor
Magma House. 16 Da*y court
Castle Mound Way
Rugby
CV23 OLIZ

THE A¢U BENEVOLENT FUND
CONTENTS OF THE FINANCIAL STATEMENTS
lorthfr y•ar •nd•d 31 D•c&mbor 2023
Pag•
Roport ofthe fru8tee8
I to 3
R•port of the Ind•pendant Audltor6
4 to S
Ststsment of Finon¢ial Activiti
BI￿ne• Shéèt
Notrs to th• Flnanclal Statgm•nts
8 to 14

THE ACU BENEVOLENT FUND
REPORT OF THE TRUSTEE8
for th• y•ar onded 31 0￿*mb￿r 2023
The trustèes present their report with the financkgl ststements ofthe charity for the year ended 31 December 2023. Thè
trustees have adopted the provisions of Accounts"ng and R&porbng by Chariti&s.' Statement ol Recommended Practice
applicable to charities preparing their g¢counts in accordance with thè Financi81 R￿tsrbng Standard ap￿ICable in the UK
and Republic of Ir•land IFRS 102112nd Edbtion, effec11￿ J￿uary 20191.
OBJECTIVES AND ACTMTIES
Slgnlflcant athltlg8
The fund was estsblished under a Twst Deed executed on 17 April 1950 and upjated ￿ 1982. 1995, 2002 and 21)05 by
dpgds gf variation. Thg objed of th8 fvtKI is to provth bonefit to past and present members and their ¢*pendents of
¢lubs affiliatgd to The Auto£yclè Union Lwnrted IACUI by WAY of grants, loans, educational fees or otherwse as the
administrative ¢ommittee may deem frt and propÈr in deseNring casès of ne￿Srty.
Thè fund may dèn￿ inccffl• from donats"ons. voluntary subscripb'ons, bequests, payments under covenan[ from The
ACU kn'mited, frorn membws gfthe pth1￿, or frorn any oth•i source.
GAntmaking
Thè tharity invrtÈs applie8tions trom past and pr8sent membgTr of Tho ACU andlor their dopendents who find
Ihem5eFves in tymes of financial difficJJlty or hardshTP, howèver caused. Applie4tKsns may be made for grants, loa￿,
educational fees or other supporL Thg adrnini5lrat1￿ cornmittèe a#sÈssès èath case indimdually and considers whethar
they quslify for support. Applicants a￿ asked to provide the n￿ssary ewdence to support their 8pplicatK•n.
ACHEVEMENT AND PERFORMANCE
The total amount cf grants paid to benefi¢la[￿¥ decreased by 28% tts £58,475 for th• yèar compared to £77,950 lor
2022. Th8 numbar ol rocpients re￿I￿nn9 help d8cre8sed to 47 {2022.' 651. The arnount of donations ￿¢%1¥0￿, in¢1￿j1rrfJ
fines, increased by 880A from £57,973 to £108,742. The continued support of the various Centres. Clulis al￿ individual
$upporttrTr rern8in$ at a very high level and ¢onts"nL￿S to provid8 one of the main sourc&s ol Income. The Twstees once
again recognise and apprec* the help and 5￿port ¢*f Th¢ ACU Limited which indudes the pro¥Asie4) of valuable
s•rvK6s to the charÈty.
The trustees and the invasbnènt managers have monitored the invesbnents closety during the year aThJ iy)nsider that the
long term strat￿Y continues to bg right one for th8 charity. Tha charity's invgstmants have increased in valu& duriThJ
the year giving rise to an unreali88d gain of £158.17512022.' unrealised loss of £481.0651.
FINANCIAL REVIEW
Inve8trnent pollcy and oble¢tlv
The day to day manag?m?nt of th¢ charity's inveslmÉnts is carried out by the invesknent managers under instruction
frorn th8 trust$8$. The managern are resporksibEe selecting appropriate investrnents to provide both ineomè aThJ
ca￿1•1 gr0￿h.
There wgro ng thange¥ in the inv8slment polciè5 of thè lund which continue to be the pursuit ol real grcwth through a
de range of invesbments cowled with a low ri8k. retijm on certain cash inve8trn8nts and Govèrrnnent stoths.
Reservè# polley
The trust88s considèr the Tasèrves required shouk4 be sufficient to ensure the charity is abk to maintain Ihe thl of
support to thos8 entitkgd to such assistsnc* in thg for9888ab18 future. The totsl arnount ol reserves for tho yaar is
£4,050,018 12022.. £3.741.8201. Grants are payable out ot In￿rne eath year, including investment irKom•. Grant
applica1ions 8rè dealt ¥wth at Ih8 tnK4t88s rn￿ting following receipt of the application, and the majority org succèssful.
FINANCIAL INSTRUMENTS
The prinopal fjnancial instwments of the ¢harty ¢ompris¢ Invg$tm*nts. bank bolan¢os, Othgr r8c4fv*)les and oth•r
payables. The main purpose of tr*se instruments 1$ to raise ftjnds for 1hg thariV$ gperation$ ond to ffinanee Ns
conb"nuing operations. Liquidtty risk is managed by the use of a bank balance aloThJ with effiuÈnt monitoring of cash
flows to ensure therg are sufficient fvnds to meet jiabil￿"es. Investrnents a￿ managed in respect of price risk by
delegatin9 the day to day managèmtnt of thè charity's ihv&stmants to thè invostrnent managors under I￿truCtion fr(rfn
the trustees as detaI￿d in the Investrngnt poliw a￿j obJ￿￿Ve$ saction.
STRUCTURE, GOVERNANCE AND MANAGEhlEKr
Govornlno doeument
The charity is contTolb(J by ils govgrning dowrnent, a d88d of trust aNJ constilut•s an lmirt0￿jrakd d)arity.
Oryanis•tioMI ￿tUr•
The twstees meet regulaty to assess the grant applications and to approve or refvse applications. The ACU has Ihe
power to appoint and r$mov6 trustees. Prospectwe trustees are invited to join the board of trustses after hawng attended
meetings ofthe administratNe cammylt•tr.
Pag¢ 1

THE ACU BENEVOLENT FUND
REPORT OF THE TRUSTEES
for th• y¢ar gnd•d 31 Dg¢?mbgr 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Rl•k management
The trustees have a duty to identify and review the risks to the charity r& expo¥8d and to eTrsurg apwopriate
¢ontrols are in pla￿10 prowde reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Chartty number
208567
Prln¢lpal addrg5s
ACU House
Vvood Streèt
Rugby
Warvrid(shire
CV212YX
Truste
R Hanks
W Evans
M Carter
C Pattison
L Francis
AuditQT¥
M8gma Audit LLP
Chartered Accountants
Statthory Auditor
Magrna Hou$8, 16 Davy Court
Coslle Mound Way
Rugby
CV23 OUZ
Bank•w¥
Cwp8rative Bank p
Yew Street
Sto¢kport
Inv•$tsnent M•nager¥
Brewin Dolphin Securrties Limkted
12 Smithfield Street
London
EC1A9BD
PUBUC BENEFIT
In setting the objectives of the tharity and planning ¢wr activit￿ the thjstees have given Caref￿ consKleration to the
Charty Commission's genèral guidance on public benefit. In determining Ihe range and level ol SL¥)PC#t available to
èligiblè daimants thè trusteès èndè8vour to promdè such assistance Ss can bè prov¥Jed lo support ACU members p8St
and prgsent and their famili?¥ to del wilh a difrull siluati￿.
AUDITORS
Magma Audit LLP has expressad rts wiNirvJness to r8main in offic& as auditor.
STATEMENT OF TRUSTEES. RESPONSI8ILITIES
The twstees are responsible for preparing the Report of the Trustees and the financial ststements in accordance
applicabl8 baw and Unrtod lQngdom Accwnting Stsndards (United Kiwlom GO￿ralY Accepted Ac¢ounbng PracticE>.
P899 2

THE ACU BENEVOLENT FUND
REPORT OF THE TRUSTEES
forth• y•ar •nd•d 31 D•¢omb•r 2023
STATEMEMT OF TRUSTEES. RespoMSIBILITIES- ¢ontlnued
The law applicable to chari*"es in England and Wales. the Charit￿$ Act 2011, Charity IAccounts and Reports)
Regulatigns 2008 and th8 provisions of the trust deed raquirtss th• tnJst•8s to pr•par• finanual statements for e*h
financial year which givg a true and fair view of th¢ Stste of affaits of the charity and of the incorning r¢sourc¢8 and
applicakn'on ol ￿SourCes, including the income 8ThJ exp￿1￿￿, of the charty lor that period. In preparin9 those finanrAal
¥tstèrn•nts, the trustèès are raquired to
$018ct suitabl8 accounting po￿￿05 a￿1 then apply them conw¥tonlty',
c*)serve Ihe methods and princlpks in th& Charity SORP.,
make judgernents and e$limate5 that are reasonab￿ Fxud•nt.,
prepare the ￿nan￿&1 statemen18 on the goiftg con¢ern basis Unlo￿ il ks in8Fs)roprf8t• to pr¢8um• that th& Charity wqll
continue in busine5S.
The tr￿te98 are resron$ibb ftx keepiny prfj￿r 0¢¢ounting fÈcoTd# whleh disdose with r•agon8bb aceufaw at any limg
the financial position of the charity and to enable them lo ensure Ihat the financial statements comply *ith the Charities
Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust de&Y. They are ￿$0
rèsponsiblè frjr safèguarding tha assèts ol thè charty and henc* I￿ k*ing rèasonab￿ stéps for lh• pr8v•n*"on and
deteckn offra￿j and other irregularit￿.
Approv8d by order 01th8 board oftsustees on.................
and signed on its behall by.
ru$iee & CI￿lm18n
Page 3

REPORT OF THE INDEPENDENT AUDITOR8 TO THE TRUSTEES OF
THE ACU BENEVOLENT FUND
OplnFon
Wè have oudiigd thg finanual 5taternents of The AGU Benevobnt Fund Ilhg 'charity'l for Ihe yoor ended
31 Dt¢grnber 2023 which cornprise Ihg Staternent of FinanrAal Acti￿ltieS th8 Balance Sheet and notes to the financial
Stst￿ents, I￿uding a summary ol SKJnifKant accounting poliues. The financial reporting framework Ihat has b8•n
applied in prepar@tion is applicab￿ law and United Kingd¢)m AccountiThJ Slandards (Unrted KJ"rKJdom Generalty
Accepted N£eounbng Prath"eèl.
In our op*iion the financia staternents..
gtv8 a trua and lair view ol the slats of thts charity's affairs as at 31 D•camb•r 2023 and ol its incominy r•sourt*s
application of re50ur¢e$. for the ye8rlhen ended.,
have been property p￿pared in accordan￿ with United ￿'ngdoM Generalty Accepted Ar￿UntIng Pr￿tIce,. aTrJ
have been prepared in accordan￿ with tho requirements ofthe Chanties Act2011.
Ba$Fs for oplnlon
We conducted our audit in acwrdanr£ with Intemationd Standards on Auditing (UK) IISAS IUKII and 4)pli¢8bk law. Our
responsibililies under those standards are fvrther described in the Auditors, responsibilib.es for the audit of the financièr
ststements secl.on of our reporL We a￿ independent of the charity in accorijance with the ethical r￿u1r0Mènts that arè
ro18vanl to our ¥udit of the financial staternents in tre UK. induding th8 FRC'$ Ell4￿1 Stsndard, and we havg fvlTrll¢d our
other ethicjl responsibilities in ￿￿Ordance with these requirements. believe that thg audvc eV￿enCe we have
obta*ied is suffioent and appropriale to prowde a basis for our opinion.
Conclusions relating to going ¢onc•m
In auth'ting thg financial ststgm¢nts, ￿ havg conduded trust8e8' use of the going con¢?m b&si8 ol accounting in
the preparation ofthe financial Statements is appropriate.
Basad on tha WO￿ ￿ have perfomied, we have not Identifièd any matèrial uncertainties relth.ng to •v8nts or condi*ons
thaL indivhlually or wlbctivgly, may cast significant doubl on the ¢hanVs ability to wnb'nug as a going concorn tsr a
period ol at leasttsyefve months trom when the finan¢i81 statements 8re auth￿￿￿ed for issue.
Our responsibilities aThJ th• r8sponsi￿llt￿8s ol the tNste8s with r•spect to going concem are d8scrib8d In th8 r8lwant
strcbons of this r¥)0
ljher Inforniatlon
The tmstees are responsble for the other infonnation. The other infoThation comprises the infoThaticffl irKlud8d in the
Annua Report. otherthan th& finarKial statements and our Report ofthe In(Jependent Auditors thereon.
Our opinion on the financi815tatements does not cover the Olher infom18tion and, Èxtr4)tto thè ￿￿èNt Olhèmsè èxrAiotly
ststed in our report. we do not express any form of assuran￿ conclusion thereon.
In Connection with our audit of th• financial stst8m8nts, our ra$ponsibilty 15 to rtr8d the othtt infomiats.on and, dorng
$0, considèr whether th& other infom)ation is materially inconsistènt wth thè firk8naal st8tan&nts or our kn￿￿edge
rkntsined ￿ the audit or othÈrwisè appèars to bè rnatèrialty misstated. If we identify suth material inconsistènciei or
parent maten'al mi8$tatsrnents, we are rgquirgd to d8termine whether this gNes rise to a rnaterial rnisstatement in the
finawial statements themselves. If, based on the woth we have performed, we conclude that there is a material
mi5ststem6nt of Itms other infom)ation. we are requi￿ to r&port that fact. Wtr have nothing to report in this régard.
on which we av8 rpquir8d to report by •xcoption
We have rK)thing to report in respect of the follwThJ matter8 where the Chwibes (A￿unts and Reports) RegU￿￿'on$
2008 requires us trp report to you rf, in our ¢winh)n.'
the infomiation given in the Report ol Ihe Trustses Is Inconsistent in any materfal respect with the financlal
statèmènts., oi
suffic￿n¢ a(xounting iewrds hav8 not been kept." 91
tke finanryal statements are not in agreement wrth the 8ccountino record$ and rotyms.. or
we have not recewed all the information and explanat￿n$ we require for our audiL
Rg¥pOn•ibilit￿l of trusto•s
As emplanèd more fully in the Statement of Trustees, ResponsIt￿lIt￿S, thé b)Jstees are responsille for the P￿jara￿.0n of
the financxal statèrnÈnts whieh givè a truè and tsir wèw. and lor such Nttèrnal eontrtsl as the tNsteÈs dÈtèminÈ 1$
necessary to onabk th¢ preparation of finanrial sl*mgnts that are fr99 from matsrial M￿taternent, whgthgr dug to
fraud or error.
In prèparing the financial statements. the trust88s are responsibl& tor assegsing the charty's ablty to cL)nb"nue as
going concewn, dk%dosing, as applicable. matters relat8d to going concern and using the going ce￿¢•M basis of
acc4)unts"ng unless th? trustses eith?r intgnd to liquidats the tharity or to cease operab'ons. or have no realist￿ dtgmatiwe
but to do so.
Pag8 4

REPORT OF ThE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE ACU BENEVOLENT FUND
Our rn8pon$lbllltl•8 lor thè audh of th• fln#n¢lal 8tst•m8nts
INe have been appointed as auditors under Section 144 of Ihe Charities A¢t 2011 and ￿port in aKertar￿ wrth the Act
and relevant regulats.ons made or having effectthereund8r.
Our obje¢tiV85 are to obtain r8a50nabb assuran￿ about whethèr the finall￿21 ststsments as a whole ar8 free frryn
m8teri81 mi5$tstement. whether due to fraud or error. and to issue a Report of the Independent Auditors that i￿l￿deS our
opinion. Reastsnable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordaneè with ISA9 (UK) will always delèct a m8t•rial misstatement when it exists. Misststemènts egn arisè trom Ir8
or 8rror ar￿ ate ￿nSIde[vd material if, indwidually or in th8 aggregate, th8y could Fèason8bly be ex￿¢18d to inlluen
iho gconomic de¢isw)ns ol users taken on the t*a3v4 of ihese financial stoiemgnts.
The extent to whieh our proegdures are capable of deteth￿ ifregulartb"es, Includi￿ fraud is detslled below..
Based on OUT understanding of the ¢haTty. we identified the princlpal risks of non-complian￿ with laws and wu13t￿n$.
and wa considered the extent to which nOr￿QMplIanCe might have a materi81 effect on the financial ststements. We also
considered thos• laws and rtgulatsons Ihat hav• a direct irnpaei on th• finanual stal8ments such 4$ the Charities Act
2011. We èv8lu8tèd rn8nagèmènt's incènb.vès and opportunities for traudulènt manipulation of thè finAnei81 ststèmènts
linduding the risk of override of controlsl. 8nd detemined that the principal risks ￿re related to posting inappropriate
joumal entries and rnanagement bias in xcounts.ng ests"mates. Audit pIC￿edureS PerfO￿e￿ indud8d'.
discyssljns wilh trusté8s i￿Ud[n￿ eonstdèrats.on of known or suspÉetod instsntss of non-tsJnWLgncè wth laws
and Tegulabon and fraud..
identfying anLJ testiry cash book entr￿, in partKular any entries to unusual SUFpIoTS or r•ay•)ts, or those that
are material to ihe ffinanc481 Stat￿entS
There are inhÈrenl lirnitations in the Èudit procedures descri￿d abovè. ￿ are lès8 likety tr* ￿COrne awarè tsf instanceB
of non-compliance wrth laws and regulations that we not dosety related to events and transactions reflected in the
financial statements. ALSO, tha risk of not datscting a material misstatement (Jue to fraud is highor thgn tha risk of not
detecting one resulting from error, as froud may invdve deliterate contealrnent by. for exarnp￿, forgery or intentronal
rn15repre88ntaticn5. or through collusion.
A furthèr dascription of our rospc¥)sibilitl￿ for the audit of the financial stat•m•nts is located on th8 Financial R•ports"r
Counols website at ww.frc.org.uklaudrtcKsrwonsibilili89. This description fonns part of our R&pcrt of the Inde￿ndent
Auditors.
Use of our report
This report is made solety to the ¢hantys trust88s, as a body, in a￿rdance with Part 4 of th6 Chariti8s lAC￿￿nts and
Reports) Regulations 2008. Our audrt WO￿ has been undertaken so that we might stste to the ¢hanty¥ tntstees those
rn8lttrs wè req¢Jir8d to stat• to tham in an audrtors, raport and for no othér purpos•. To tha fUl￿st extènt pem)ittad by
law. we do not accept or a55wne responsibility to anyone other than the charity and the charitys trustees as a body. for
our audit work. for this reporL or for the opinions we have lomied.
bjw LLP
Magma Audit LLP
Chartered Accountsnts
statutory Auditor
Magrna Housa, 16 Dovy court
sye Mound Way
Rugby
CV23 OUZ
8 April 2024
Paga 5

ThE ACU BENEVOLENT FUND
STATEMENT OF F114ANCIAL ACTMTIES
for thè y•or •ndad JI D•¢èmbor 2023
2023
UnrBStricted
fund
2022
Total
fund
Notes
INCOME AND ENDOWMENTS FROM
Donab"ons and le9acie$
108.742
57.973
Olh8r trading activities
Invesknènt incomè
8,313
127,162
8,¢)05
118,967
Totsl
244.217
184,945
EXPENDITURE ON
Raising fLinds
28,198
26,672
Charltabh actlvlU•$
Grants payablè to Indlvidu818
56,475
77,950
11
Totsl
116,C64
Net galnWllosse$l on Inveslmants
481,0651
NET INCOMEIIEXPENOITUREI
JO8,191
{412.1841
RECONCILIATION OF FUNDS
Ttstal funds brought fomard
1741,620
4,154.004
TOTAL FUNDS CARRIED FORWARD
4 050 018
3 741 820
The notts fom part 0ftr￿se fina￿al ststements
Pag8 6

THE ACU BENEVOLENT FUNO
BALANCE SHEET
31 Dgc•mb•r 2023
2023
Unrestrlcthd
lund
2022
Total
funds
Notes
FIXED ASSETS
Tang￿>￿ assets
Investrnents
27
3661.191
12
3 936 251
4936.262
3,661,218
CURRENT ASSETS
Stoeks
Debtors
Cash at bank
13
14
2,474
18,780
103
2,865
10,471
125.086
91.318
CREDITORS
Amounts falllThJ due wilhin ono yoar
15
111,3201
110.7161
NET CURRENT ASSETS
113.766
80.602
TOTAL ASSETS LESS CURRENT UABILITIES
4,050,018
3.741.820
NET ASSETS
4,060 018
3.741,820
FVNDS
Unrestricted fijnds
16
4050018
3.741.820
TOTAL FUNDS
4050018
3 741820
teme
F8 approvèd by th8 Board ol Twust•ès And authoTts8d tsr 55sue on
. and were sig￿￿ on its behalf by..
R Hanks- Trustee & Chaimian
The notss form part of th8s9 fjnanrAal statements
P&Je 7

THE ACU BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
for thg y•ar gnded 31 Doc•rnber 2023
ACCOUNTING POUCIES
Summary of $ignlfic¥nt a¢countlng poll¢lgs
The prin¢ip81 awounting policies applied in the prepara*on of these financial ststements are Set out below.
Th•s8 polio•s hav• b8•n C￿ls15t*n1JY applh8d to all y•ars prns8nted, Uffd8ss oth•rwL%• stsl•d.
Ba81$ gf preparlng tho finan¢lal •tstements
The financial staternents of the charity, wh￿h 15 a Publ￿ Èenefft enbty under FRS 102, have bgon Fwared in
&ccord8nc• wth th• ch8riti.ès SORP IFRS 1021 'Accounting and Rèporting by Ch8rititrs." Statèment of
R•￿mmended Pracb• oppli¢aWg to ¢haritio$ proparing Ihoir a¢ts)unb in xwrdancè with Ih? Finanrial
Reporting Standard applicab￿ in the UK and Republic of Ireland IFRS 102112nd edili(m. effective 1 January
20191., and the Chanties Act 2011. The financial ststements have been prepared under the historical cA)st
nventlon as modified by the revaluation of Investsnents w17i¢Pk a￿ Induded al marf(8t valL*.
Golng concem
At 31 December 2023 the charity had net current assets of £125.086 12022.. £91,318) and net assets of
£4,050.018 12022.. £3,741,8201. Th& trustsos hav8 assassad tha raquiromènts of th8 ch8rty for at 188St
months frorn the signing of these finallc￿l stataments and ha￿ ther8fore prepared Ihg finarKial statsments on a
going conc8m basis. No rnalerial uncgrtainty exK8ts at the balance sheet datg.
Finan¢lal roporting standard 102- r8dtse•d dt6¢losur• •x•mptio
Thg ¢hority has tskgn a￿an￿ge of the fgllow1￿j di%lo3ure exemptions in pwepaiing these finanrial stalem•nts,
as pennitted by FRS 102 The Financial Reportin9 Standard applicable in the UK and RepLtsl￿ of Ireland,:
the reqUI￿rnents of Section 7 Statement of Cash Fkiws.,
Ihg requirgrngnl ol paragraph 3.17ldl.
In¢omlng rg8our¢••
All in￿ming resour￿ are induded on the Statement ol FinancHI Activit￿ when the charity is ￿gaI￿ entitled to
the Incomè and thè amount ean ba quantt.fièd wth raasonablé accuracy.
Don?tion¥ are indud8d on o recepts b8S1¥.
Donotefl 8ervwJ are included In the period in whieh the semces were supplled.
L*gari￿ 8r8 induded in tha period in which they art receivabl?.
Distributions and interest on investments are included on Ihe accruals basis by reference to the due date ot
payment.
All ther Income is induded on the accNAls basS#.
R•sourc•$ gxp•nd•d
Exponditurè is account¥d for on an accruals ba*s and has bèan classifiad under hoadings that aggregatè all
ctssts ￿lated to the category. ￿)ere costs cannot be direeuy attributed to P8rticdl8r headings thèy havè been
allocated tts activ￿e3 on a basi$ consk8tent with the use of res¢urces. Support ￿$ts are those costs incurr&Y
diredy in support ol expenditure on the objectives of ts charity. Irrecoverab￿ VAT 1$ charged against t
catsgory of resources expende(I lor which it was incurred.
Raising funds consist of 4nvestrnent m8nagernènt fèès and trading eosts.
Charita￿0 a¢iviti¢s include direct expenditure asswated wth tho paym¢nt of grants ¥nd $upport costs.
Governane& costs include Ihose ineurrad in thè gowrnanco of th6 eharlty and arè primarly associatad wth
constitutional and statutory wuirements.
Grants offered 8ubject to ¢ondition$ are re￿g￿ls￿ in full within the statément of finanoal aetivibes %then
conditions are fijlty satisfied. When the grant conditions have not been met at the year end date these grants are
notsd as a commthent but not accruod as expe￿IltUre.
T#fig[b￿ fixèd #s••ta
Tangible fixed assets are ststed at historical cost less arKumulated depreciab'on and any accurnulated
impaiment losses. Historical cost includes expenditure that is dire￿ atiributabb to the asset to the
location aThJ condition necossary for it to be capable of operating in the manner intended by management.
Page 8
ctintinued...

THE ACU BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS- eontinugd
for th• y•ar end•d 31 De¢•mbgr 2023
AccouMfiNG POUCIES . ¢ontlnu•d
Tanglblo flxed a88Ot*
Depreciation is charged so as to all￿tt the cost of a￿ts 1è8S their reshlual value 0￿r their estimated usefijl
Ilvgs. usNI9 either4 straight lim or re(luong balance method, as irMlicat8d bg10w.
Fixbjtgs and fittings
Equipment
- 20% on ieducang balancè
33% on atraight Nne
Gains And lossÈs on disposals are d￿eThined ty comparing the piocwls with Ihe ¢arryin9 amount aThJ ar•
recognised in the profft and loss ac¢ount.
Stocks
Stocks ?re ststèd at the lower ol c051 and •$limatèd 8elliro pri￿ kss cgsts to Comp￿18 and sell. Cost is basod
Dn cost ol purchase on 8 first in, first out basis.
Al each balancè sheet dal•, stocks ots ass&ssed for impaim18nL If stoth is impaired, the earying arncunt is
reduc•d to bts $?Iling pri￿ les$ costs lo complet• and SÈN. The impainnent loss is re¢ognised Immediat81y in
profit OT Ioss.
T￿all￿n
The charity is oxempt frorn tax on its ¢haritable acbvibe5.
Fund ac¢ountlng
Uhrestrthd funds can ba utsed in aCC￿)rdanCe with thg charitabk objectives at the di8uelSon ofth* trust89S.
Fijwther explanation ol the n8ture and purpose of 8ach fijnd is included in the not•$ lo th8 financial statsments.
Flx•d 08s•t In¥￿trn•nts
Investmants ar8 included in th• financial stat¢ments at ml&market valuè. The St8temènt of FinancAal Act￿￿8$
n¢4udes nel gains and 1058os arising on revaluation and disp¢)S￿S throughout the year.
Flnlnclal Instruments
Thè ¢hanty has chosen to adopt the Seth'ons 11 and 12 of FRS 102 In resFéCt offinandal lnStrthne￿.
{[) Fingnaal assets
Basic fin2nci81 assets, including debtors, cash and bsnk balarKes and invo3tments am initialy recognised 8t
transaction price, unless the arrangemant rxjnslilutes a financing transaclion. wherg the transaction is mÈasur8d
at the pre¥gnt value ol the future we￿ip1S discounted at a market rate of interest Invesbnents are Subsequenity
Carri￿1 at mK*market value.
lill Fin8nrA* liabiltti
Basic financ￿￿1 liabilities, including creditorB a￿ initially recogni8ed ot transaction price. unle$$ the arrangeM￿t
eonstttutes a finarKing transacb'on. wher6 Ihe debt instnjment is measured al the Plwdent Value of the futwe
payments discounted at a martet rato 01 int•rest
Cash and cash •gulval•nts
Cash is rèpresented by cash in hand and deposits with financial Sn$titub"ons repayab￿ wilklut pgnalty on notice
of not morg than 24 hours. Cash equwalents are highty liquid invèstm•n15 that maturo in Tr) more than three
months frorn Ihe dat* of acquisition 8nd that a￿ r•Adily convertibl? lo known amounts tsf Cash wth insignifiunt
risk of charoa in valuo.
Pag& 9
continu&J...

ThE ACU BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnu•d
for thè year ended 31 Deeember 2023
CRITICAL ACcOU￿NG JUDGEMEpifs AND KEY SOURCES OF ESTIIIATION UNCERTAINr
The charity makes estinates and assumpb.ons concerning the fubjre. The results.ng accounlng estimates wll, by
dèfinikn"on, saldom equgl thè related actual rèsults. Thè 8sth"matès and assumpb.ons that have a significant riik of
causing a msterpl adiustrnont to th? carrying amounts of assets aTrJ liabilits'es within th& next financial year are
below.
lil C8rrylng vahja of listed invtstmonls
The listed investments hekl by the cherty are sensitive to changes in fair value. A valuation is obtained from a
qualified valuer for each investment wrth sUffic￿nt regularty to ensure that the valuation is not materiaHy f1ifferent
from the fair value. The threalised gains and ￿SSeS arising from the annual r&va￿allOn is r•cognis•d through th•
siatsment of financial a£*"vlt*s.
DONATIONS AND LEGACIES
2023
2022
Donatéd sèmces
Donations
Finès rec4N8d
LegarAg¥
Framed Prints
6,000
36,213
1,330
66.199
5,000
39,930
30LI
12,668
75
57,973
OTHER TRADING ACTIVITIES
2023
2022
Sal•s ol badg•$
8,005
INVESTMENT INCOME
2023
2022
Income from investments
127,162
118,S£7
RAISING FUNDS
Oth•rtradlng actlvltle•
2023
2022
Pwchases
839
3.251
Inv•8lm•nt manag•m•nt ¢Mts
2023
2ff22
Portfolio m8nag•m•nl
23,421
Aggr•gat• amtsunts
26,198
26,672
Pag• 10
¢onl1rK￿d...

THE ACU BENEVOLENT FVND
NOTES TO THE FINANCIAL STATEMEKfs- ¢ontIn￿l
tor t￿ yèar •nd•d 31 D•e•mbèr 2023
CHARITABLE ACTNITIES COSTS
Grdnt
fund£ng tsf
8thitr.es
Is8• note
61
Grants payabl& lo indNKlual$
GRANTS PAYABLE
2023
2022
Grants p4y¥ble to
77,950
SUPPORT COSTS
l>)vtman
costs
Finan
Totals
othor tssour¢è$ •xpond8d
36
10.
TRUSTEES. REMUNERATION AND BENEFITS
TI￿re w9re no trustee8' Tgrnuvgration or othgr bengfits for thg year ended 31 D￿ember 2023 nor for year
ended 31 Decembgr 2022.
Tru•t•￿' oxpon$68
Expens￿ havè b*$n rtirnbursed ltr tru$tsè$ in thè y&ar ?rnounting to £nil 12022: £1211 in resped of travel
expenses incurred.
11.
TANGIBLE FIXED ASSETS
FLxtur•$
an¢
ffttings
Equipment
Totals
COST
At l January 2023 and 31 December 2023
328
3.616
DEPRECIATION
At 1 January 2023
Charge frjr year
328
4260
3A88
At 31 Dgcembgr 2023
328
614
NET BOOK VALUE
At 31 Decwnber 2023
Al 3108c8mbgr 2022
27
27
Pa￿ 11
ontinued...

THE ACU BENEVOLE￿ FUND
NOTES TO THE FINANCIAL STATEMENTS- eontlnu8d
for the year ended 31 Decembgr 2023
11
FIXED ASSET INVESThlENTS
Listèd
imskngnts
MARKETVALUE
At 1 January 2023
Add￿"On$
Disposals
Unreallsed galn
3,661,191
140,000
123,1161
158 175
At 31 DecemtrRr 2023
3.936,251
NET BOOK VALUE
At 31 December 2023
3.936,251
At 31 December 2022
3861,191
The geographical locoth'on of asset investmants is os fdlows..
2023
2022
In the UK
Outside the UK
1901.505
1.034,746
3,040.710
620,481
3,936.251
3,661,191
wnpositi¢n oflhe investsnenl fvnd Is 89 follows..
2023
2022
Cash
Listed invesbnents
Unittrw4ts govemmènl $10
63,084
2.789.744
1083 423
12,620
2,582,245
3 936 251
3 661 191
Fair value at 31 DeC￿ber 2023 is represented by..
RevaluatHJns
Cost
1.286,617
3.936 191
13.
STOCKS
2023
2022
Finished goods
2,865
P4è 12
tiTrued...

THE ACU BEMEVOLE14T FUND
NOTES TO THE FINANCIAL STATEMEMfs- ¢ontinu•d
fgr the year •nded 31 Dg¢ember 2023
DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2022
Prepayments #nd accrued iWA)rne
CREDITORS: AMOUNTS FALU14G DUE WITHIN ONE YEAR
2023
2022
Othèr er8ditor5
MOVEMENT IN FUNDS
Net
m¢)vEment
in fund¥
Al
31112123
At 111123
Unr•8trlet•d fvnds
General fvnd
3.741,820
308,198
4,050,018
TOTAL FUNDS
3 741820
4060018
Nel movement in l￿d$. induded in the above are as follows:
IncKJming
resour¢gs
R•sourcès
gxpended
Gkins and
losse
Movemènt
in funds
Unre8trfcted fub)ds
GerF8ral fund
244,217
,194)
158.175
301,198
TOTAL FUNDS
158175
omp•rntlv•8 for movement In fund8
Net
mov8mont
in funds
At
31112122
At 111tt2
Unrnslrl¢t•d funds
General fijnd
4,154,004
1412,1841
3,741,820
TOTAL FUNDS
412.184
3 741820
Comparalivo net mov¢ment in lunds, included Sn the *ovè are as follows..
Ir￿mIng
re50urces
Resources
oxpend&J
Gains and
losses
Movernent
in funds
Unr•¥tricted fun
G8neral ftjnd
184.945
1116,1X41
1481,0651
1412,1841
TOTAL FUNDS
116,064
4810651
412.1841
Pagè13
conlinu8d...

THE ACU BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnu•d
for tho year ended 31 December 2023
1&
MOVEMENT IN FUNDS- contJnu•d
A current year 12 rnorrths and prior ygar 12 rnonlhs combined posil*)n is as follows..
N•t
movement
in lunds
At
31112123
At 111122
Unr•strfctsd funds
Ggngral fvnd
4,154,004
1103,986)
4.050.018
TOTAL FUMDS
4 050 018
A current year 12 monlh5 and prior year 12 months cornbined nel movement in funds, induded in the at￿ve are
as follows..
Inwming
resources
Re$ouTces
exp8nded
Gains and
IoBses
Movement
In lunds
Vnr•$tri¢t•d fvnd8
General fvnd
429.162
1210,2581
1322.8901
1103.9861
TOTAL FUNDS
429 162
210 2581
322.8901
103.986
17.
RELATED PARfi DISCLOSURES
Thgre WgTS no r8lat8d potytransadKJn$ in the ￿rrent or pr¥roding year.
Page 14