AMBROSE AND ANN APPELBE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 REGISTERED CHARITY No. 208658
AMBRQSE AND ANN APPELBE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STA TEMENTS FOR THE YEAR ENDED S APRIL 2024 CONTENTS Page REPORT OF THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTlVttlES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS
AMBROSE AND ANN APPELBE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The Trustees are essed lo present VEirannual tntstees. TekY)rt logetherwilh finanual statements of tl Chanty for Il year ended 5April 2024 REFERENCE AND ADMINISTRATIVE DETAILS Full name Atnbrose aTh1 AJ)n AKwelt¢ Tw5l Registered Charity numtr". 208658 Pllncipal address.. BDB Pilmans LLP One 8arthdcrfne Cke LorOn ECIA 7BL Trustees.. MrFApr Mrs V ThC8S Or L Hobby Mr A AppelL Mr W Thunas Inderendenl ExarnitEr". Hamish Frost OrÉ B8rthd(w CkEe London EC1A 70L STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng d¢Kument The Charity is conlrolkd by ils goverriTrJ drnent. a deed of tnjsl dated 25 Ccember 1944. and conslilules an unincwated charty. Appointment of Trustees and TrLL8tee Induction and Iralnlng Trustees are appointed by deed. lJuslees are briew on thr Obl10n$ under charity law. the Charity Commissiw guid3rKe on publi¢ benefit. infth)ned of contents of the deeos. decision-makirvj processes and recent financsal rÈrtomiance of the chafity. Bef takirvJ on thè r(Ae they meet key isors and other tsustees. Trustees are en¢ouraged to atterKI awopriale external training events where these will facililale Urertak1ry of Iheir rrk. Risk Managernent The Trusiees cOgnise that Ifty a duty to M1entfy afKI lev risks to whi¢h the Charity L8 expos1 and lo ensure appropfiaie wnlrols are in FA8 lo FKovitte reasonaNe 355urance against fraud and error The Trustees have ConSere the main areas of risk and a of the that the Charity has the resources that. under nomial Co111$ woukj allow rtsks to be milvJabY lo an aCCePtsb level in its day-lo-day Operat$. OBJECTIVES AND ACTIVITIES The Ch2rity was created by dJ of Irv51 dated 25 tknnir 1944 and exists to tEnefit such legally chaiilable obie¢ls a5 Trusiees at their discret seL The Trustees ¢onsKler applicab'orts for grants ai rrThJS arK1 gertialty throughrAJt the year. PèJ2 1
AMBROSE AND ANN APPELBE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 Icont.) Public Benefit statement Ttr Trustees have referred to Ihe gusdarte c&)tained in Ihe Charity Commission's general guidance on public benefil when VIeng Ihe Tnjst's aims and objectives and in tJanniryJ future acb"vities and deciding on the grants lor the year. The Charity's obiecis a fof U)e rxjbI benefit. Those object5 are achieved by virtue of the grants maye by the Trustees to Charib'es in England and Wales and to in(Avidua15 to assislwth their edurAb". ACHIEVEMENTS AND PERFORMANCE The Trustees met and discussed grants various occa&ons and to consider the Charity's athvib.es and achievetnents in the year. Chanlable donation5 agreed and 19 were tnade during the year12023. 21 grants), rangin9 frotn to £6,(KY) and the total 15 sh(wi in note 2 to tlse accounts The Trust funds were hdd in investments and tssh. IrKX)me for the year, in the form of dividends and interest, amounted to £75,75912023'. £e6.52n. The mathet value of the investments al the date of the Balance SIEet was £1,391.820 12023." £1.3(6.8591 The Trustees noted that the assets had seen a overall fall In value at the year end. This comes in the fa of economic and the continuing the dr in Ukraine. The Tiuslees are a¥a Ihese issues c(MJkf be o)ntinue to impact the investments and their values and the income ansing fr those investments. Chanty Is invested f( the long terrn and the trustees VAII ¢tinUe lo monitor the investments and their FerfOan. FINANCIAL REVIEW Charitable Expenditure The 2023 Grants lotalled £39,11Y)12023." £45.1. Other Expenditurè Expenditure relating to the management. administration and 9)VeMan ol the Charty. amounted to £5.49412023'. £4,572). less than 1% of the value of the Charity at 5 April 2024. Investment Policy and Performance The Trustees have an investment portfdKTr th M&G comprising shares in their Slerting Charifund, with units held in both their lllcotne and Accumulaliw funds. The investment in Ihese funds offers the Iruslees the right mix ol capital growth and income to meet their pdicy arKI is actively managed by M&G direct. The Ttustees monitor the performarte at thw"r meetings and llen the quartedy reffjs are reived. The Trustees Ere eaSed to receive a dc¥)abon 01 £81,250 (irUdIng Gift Aid) 12023.. £56.2501 In the year b%thich has been Invested into the M&G Income units. The inveslment portfolio showed a deixease Jn markel value over the period. with unrealised losse5 of £8.17212022." unrealised 105ses ol E70,6191. There rK) realised gau)s or losses12023". none). Reserves Policy and going concern The Tru51ees lY use income ari&rYJ duiing exh year grants and do not spend n¥) than their annual income each year. 11 Is not envisaged that there 4MII be future commitments that exceed future income on an 8nnual basis therefore the trustees are happy with the ¢Auienl reserve level. The tFuslees 8re of the view Ihal tte Trust is a going wncein. Exemptions from Disclosure There are no exemptions from disdosure_ PJÈ 2
AM8ROSE AND ANN APPELBE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 IconL) Law applicable to charities in England & Wales requires the Trustees to prepare finawal statetnents lor each finanoal year vknich give a Irue an(J fair of the Charity's finanaal athvits.es during the year and of ils finanoal FK)g1ion at the end of the year. In preparing financial statements giving a irL and fair view, the Trustees should follow besl Wac1 and_ seled sullae accounting P)le$ and then appty tsm consistently.. - makejudgements esl"mates that a reasonable arKJ prthL state ther aWicatAe jntr"ng stalardS and statements of rectsmmended practice have been follot, subject to any deparlures d15dos&J and explained in the financi statements atKI.. prepare the finanaal staternenls the g(xng CC¥ tk3%s unkss it Is inappropnale to pre5urne ihat Ihe Chatity wll continue in operati. The Trustees are respble for keeThJ accounting [dS vthith th'sdose with reasonable accuracy the fillancial position of the Chanty aThY 1¢h enable them to ensure that the financial statements comply wth applicable law and regulations. They ale also reswnsible lor safeguarding the assets of the Charity arKI for taking rea$able sleps rot the yeventson and detection ol fraud and other irregvlaribes. Signed on behalf of the trustees: Date.. Page 3
AMBROSE ANDANN APPELBE TRUST REPOR T OF THE INDEPENDENT EXAMINER TO THE TRUSTEES IN RESPECT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 I report to the Trustees on my examinats.on of Ihe accounls of the Ambrose and Ann Applebe Trust for the year ended 5 April 2024 which are set out on pages 5 to 9. Rèsponslbllitiès and basis of report As the charity Iruslees of Ihe Trust you are responsib foi Ihe pparatiOn of the aixounts in accordance with the requirements of the Charrties Act 2011 Ilhe Acf). I report in respect of rny examination of the Twsfs accovnls carried out under seclB)n 145 of the 2011 Act and in carrying out rny examination I have followed aN Ihe applicable Oirections given by the Charity Cornmission undei section 145151 Ibl ol the Act. Independent examiner's ststement In connection with my ex8minatv)n, rrotter has come to my attenlion.. accounting recoids were nol kepl in respect of the Trust as required by section 130 01 the Act.. or 2. the accounts ¢Jo not accord wtth those recorfs: or 3 the account5 do not compty wth the applicable requirements conceming the lom and conleftl of the accounts sel oul in Ihe Chaiilies {Accounls and Reports) Regulations 2008 other than any requiretnent that the accounls give a'twe and fairf view bthich is not a matter considered as part of an independent exarninalion. I have no concerns and have come across no other matters in connecb.on with the exarnination lo which attention should be drawn in Ihis report in order to enab a proper undeistanding of the accounls to be reached. Hamish Frost One Bartholomew Close London EC1A7BL Date". pe4
AMBROSE AND ANN APPELBE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestri¢ted Fund 2024 Total 2023 N¢Jtes INCOME & EXPENDITURE Income and endowment5 from= Investtnents 75,759.12 66.527 Donations and other sums recewed 92.500.00 45,CXX Total Incomt and endowrnents 168 259.12 111.527 Expenditure on.. Charitsble expenditure Grants Support costs 39,100.00 5,494.00 45,0 4,572 Total expenditure 44.594.00 50.472 NET INCOMEIEXPENDITURE 123.665.12 61.055 Net ISse$Y931s On inve5ffflenls {8.171.721 170,6191 Net lexpenditurelllncome 115.493.40 19,5641 Reconclllatlon of funds Fund balances brought lor%Yard 1.306.353.97 1,315,918 Total funds carrted loard at 5 April 2024 1.421.847.37 1,306,354 P*Je 5
AMBROSE ANDANN APPELBE TRUST BALANCE SHEET ASAT SAPRIL 2024 2024 2023 Flxed As¥ets Investments 1,391.820.51 1,3(,859 Current Asset5 Cash 30.980.86 2.089 Less.. CLtrrent Liabilitie5 Amounts falling due withln ontr year BDB Pitrnans LLP f Grants payable 954.00 594 2,(KlO 30,026.86 Net Current Assets 15051 Net Assets 1.421,847.37 1,31K.354 Funds Unrestricted funds 1.421,847.37 1.306.354 The finanual statefflent5 were approved by the Trustees arKI we &gned their behalf by". Mrs V Thna$- Trustee Date.. PwJe 6
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 1. Accounting Policles Basis of accountin The financial staternent5 have been prepared under Ihe historical cosl convenb'on, with the exception that inveslrnents are shown at market value a5 al the balance sheet dale and are in accordance wtth the Statement of Recommended Pracce_. Accounting and Reporting by Charilies preparing their accounts in atcordance wilh the Financial Repo"ng Standard appluble in the UK an¢J Republic of Ireland IFRS 1021 (effective, 1 January 20151 and Ihe Charilies Act 2011. The charity constilules a public benefit enlty a5 defined by FRS 102. Having assessed the Charitys financial position and plans for the forseeable future, the Trustees ale satisfied thal rt remains appropriate to prepare the financial statements on a going concern basis. Wheie necessary ests"mates and iudgemenls are based on historical experience and other factors. Ex enditure A liability and related expenditure frs recognised when there is a legal or constiuclNe obligation at the ba12nce sheet date a5 a resull of a past evenl. Ihat rt is likety io be setued and that it can be measured reliably. Funds The Unre51ricted Fund conwrises those lunds whrrth the Truslees are free to use in accoidance wlh the charitsble objects. Charitable Grants Grants 8re recognised when Ihe Trustees have made a decision to make a payment and that decision had been communicated lo the recipient and it is probable Ihat paytnent will take pi8ce. However, the recognition of 8ny liability wll be dependent on any condilK)ns atlaching to the commitment. Investments Investments are stated at rnarket value as at 5 Awl 2023_ Investment gains and losses ale disclosed in the Slatement ol Financial ActNities_ Investment Income Inveslinent income and tax recoverable are accounted ft>ron a receivable basis. 2. Charitable Expenditure 2024 2023 Grants made during the year tOtald.. 39,100.00 45.900 Support Costs Metro bank charge Legal & piofessioTral VAT (non recoverable) 10.00 4,570.00 914.00 5,494.00 3.810 762 4,572 44,S94.00 50,472 Page 7
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL 2024 Icont.) 3. Investments Movements on quoted investments were as Idh)ws= 2024 2023 Market value brought forward Add. 8QqUlSltions at cost Nel gainlllossl on revaluation 1,306,858.98 93,133.25 18.171.721 1,308.104 69.374 170,6191 Markel value 81 year end Historic cost value at year end 1,391.820.51 1.306.859 939,059 1,008.433 All investments are silualed in Ihe UK and listed on a retognised stock exchange. Inveslmenls which present 5% or nKTrre of the total wrtfolio are consKlered by the Trustees to be material and are.. 2024 61.07° 38.93% 2023 M & G Chariftjnd - Income Unils M & G Charifund- Accum Unrts 39.52% 4. Investment income 2024 2023 Income from UK investmenls 75,759.12 66.527 S Movement In Funds 2024 2023 Unrestricted Funds General fund Fund value biought lorward Add.. Nel movement in fund5 1,306,3S3.97 1.315,918 115,493.40 19,5641 Fund value al year en¢J 1.421.847.37 1,306,354 Nel movement rn Yunds labovel. arises as folh)ws-. 2024 2023 Unrestrlcted Funds General fund Income Gains and losses 168,259.12 18.171.721 111,527 170.619} 160,087.40 40.908 Less.. Expenditure 44.594.00 50,472 115,493.40 19.564} P4e8
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Icont.) 6. Dlsclosum of Tmstee¥' Remuneratron and Expenses None of the Trustees have been paid any reMUnera"0n or received any other benefit5 from an efflployment wrth their chaity or a reLHted enbty. Th) trustee expenses have been Illrred nor have the been 8ny reL4led party transactions in the reporting period that qUIre disclosure. 12023 also £0 in all cases). Independent examination lees are charged bul Ihey ale part of BDB Pilmans LLP'S general expenses. The functions are carried out separalely WTlhin BD8 Pilmans LLP. 7. Employees The Trust does not have any efflployees (2023." none). Page9