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 numt*r". 208658
Pllncipal address..
BDB Pilmans LLP
One 8arthdcrfne* Ck*e
Lor￿On
ECIA 7BL
Trustees..
MrFApr
Mrs V ThC￿8S
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 d￿rnent. a deed of tnjsl dated 25 C*cember 1944. and
conslilules an unincwated charty.
Appointment of Trustees and TrLL8tee Induction and Iralnlng
Trustees are appointed by deed. lJuslees are briew on th￿r Obl￿￿10n$ 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 Ur￿ertak1ry of Iheir rrk.
Risk Managernent
The Trusiees ￿cOgnise that Ifty a duty to M1entfy afKI lev￿ risks to whi¢h the Charity L8 expos￿1
and lo ensure appropfiaie wnlrols are in FA8￿ lo FKovitte reasonaNe 355urance against fraud and error
The Trustees have ConS￿ere￿ the main areas of risk and a￿ of the that the Charity has the
resources that. under nomial Co￿111￿$ woukj allow rtsks to be milvJabY lo an aCCePtsb￿ level in
its day-lo-day Operat￿$.
OBJECTIVES AND ACTIVITIES
The Ch2rity was created by d*J of Irv51 dated 25 tknni*r 1944 and exists to tEnefit such legally
chaiilable obie¢ls a5 Trusiees at their discret￿ se￿L
The Trustees ¢onsKler applicab'orts for grants ai rr￿￿ThJS 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 ￿VIe￿ng 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 tl*se 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 FerfO￿an￿.
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
re￿ived. The Trustees ￿Ere ￿eaSed to receive a dc¥)abon 01 £81,250 (ir￿UdIng 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_
P*JÈ 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 sulla￿e accounting P)l￿e$ and then appty tsm consistently..
- makejudgements esl"mates that a￿ reasonable arKJ prthL
state ￿ther aWicatAe ￿￿jntr"ng sta￿lardS and statements of rectsmmended
practice have been follo￿t￿, 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 resp￿￿ble for kee￿ThJ 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 p￿paratiOn 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".
p￿e4

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 I￿Sse$Y931￿s 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 lo￿ard 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 Th￿na$- 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 Prac￿ce_. 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 tOtal￿d..
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 Ill￿rred 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