AMBROSE AND ANN APPELBE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 202S REGISTERED CHARITY No. 208658 Broadfield Registered Olfi¢e 4 GrtysventySqu¥e sthth4mpl(. )15 28E DX 38516 gyJihanWw 3 Lon&)n EC1A 78L OX 339401 Wal 34 street CBI 2JD R*&1iNJ. RG1 2LU DX 339601 CwrknK)Je 24 OX 146420 Rthrj11 +41 101345 2229222
AMBROSE AND ANN APPELBE TRUST CONTENTS Page Trustees, Report Independent Exam•ier's ReF sktement of Financi81 Athities Balance Sheet Notes to the Finanaal Statements
AMBROSE AND ANN APPELBE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 The Trustees are ple8sed lo present Ihev annual Trustees, ReExirt logets wth the finanryal statements of the Charity for the year ended 5 April 2025. REFERENCE AND ADAIINISTRATIVE DETAILS Full nama". Ambrose and Ann Appelbe Trust Registered Charity number.. 208658 Principal addfèSS'. One BartholomeAf Close London ECIA 7BL Trustees.. Mi F Appelbe Mrs V Thc4nas Dr L Hobby Mr A Appelbe Mr W Thofflas Independent Examiw.. Mrs Julia S1n"ke TEP One Barthdomew Close Lon(h)n EC1A 78L STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is controlkd by its goveminy docxjmenl. a de&J of twsl dated 25 DeCber 1944, and consb"lules an unincorporated charity. Appointment of Trustees and Tntstoe induction alld trdining Trustees are appoinled by deed. New trustees are lefed on thar legal oMgalK)ns undei thairty law. the Charity Comrnission guKlan¢e CM) public benefrt. Infrned of the tent5 (rf Ihe deed. decisK)n-makn'ng prO$se$ and recent financHI perforniance of the tharity. Befwe taking on the ro they meel key adw.$5 and other ttustees. Trustees are encouraged to attend aplate exlemal trainiThJ events we these larylilate Ihe undertaking of their re. Risk P•lanagèm•nt The Trusteès recognise Ihal they have a duty to Klenbfy and review risks lo which the Charity is exposed and to ensure appropriate controls are in pLace to promde reasonable assurance agansl fraud and etror. The Trustees have considered the main areas ol risk and are of the 0[Ann that the Charity h85 the re$IrceS thal. under rmal corKlrtions wuld allow these ii5ks lo be Mrtja1ed lo an acceptaie Ve1 in its day-taY operations. OBJECTIVES AND ACTMTIES The Charity was ¢reatsd by deed of trust dated 25 Decembw 1944 and exists to benefrt such legalty charitable objects as the Trustèes at Iheir disuetion seletl. The Trustees consider appli(alK>ns for grants at meetings and generalty thrgI}ut Ihe year. PwJe 1
AMBROSE AND ANN APPELBE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 IconL} Public Benefit ststement The Trustees have referred to the guidance contaird in the Charity ComrnssioD's gerral guidan on public benefit when rewewn9 the Trusys aims aThJ objectives and in pknning future acbwties and decKling on the grants for the year. The Charitys objects are for the publi¢ benefit. Those oty.eds are achieved by wrtue ol ihe grants made by the Trustee5 to Chartties in England Wales and to mdividuals toassi4t with their education. ACHIP¥EMENTS AND PERFORMANCE The Trustees mel and discussed grants on WdriOUS (asiOnS and to cry)sM1er the Charty5 activities and achievements in the year. Charitae dalln$ were agreed arKI 29 were made dullng Ihe year12024.. 191 a5 shown in note 2 to these acLy)unts. The trust funds were held in investments and $h. Irme for Ihe year B) Ihe form of dimdends and iiteresl arnounted to £72,10412024". £75.759} The market value ol the investments at the date ofthe Balar Sheet was £1,453.14512024.' £1,391,820). The Trustees keep the assets under constant review and are aware of the rx)nts"nuu¥J eo)nomic unortainty and ¢urrent issues in global politics that (x)ukl affect values and the income arising frorn the investments. The Trustees hold these investsnents f the k¥)g lerm conb.nue to review perfomwce Ihk8 in mind. FINANCIAL REVIEW Charitable Expendithre The 2025 grants lotalle(1 £51.70012024'. £39,1CQ). Other Expenditure Expendrture relating to the managemeni, administration and govemance of Charly amounted lo £4.612 (2024.. £5,494), s5 than 1°k of the Wdlue of the Chanty at S Apiil 2025. Investment Policy at)d Perfomiance The Trustees have an investmenl p(NtfolK) wth M&G comprising shares in Sterfing Charifijnd with units hekg In both treir In¢ome and AcmUla)n fuThls. The inveslmellt in these fvnds offers Ihe ttustees the r@ht rnix of caF4tal growth and incorne to meet their policy and is adNety managed by M&G dired. The Trustees monitor the performarKe at their meetings and when the quarterly reports are receNed. The Trustees wère pkased to receive a d[atr)n of £75.CrfM from vantir Ttsna5 (irK41Th9 Gift Aid) {2024.. £92,500) in year, vthith has been invested inlo the M & G Income Unrt5. After acLounting for the donat i) the year, the investment porlfoh'o shrywed a de(xease markel value over the period, wilh unrealised losses 01 £16,66312024". £8,172). There We no reali5ed gatns or losses12024". none). Rèserves Poli¢y and going concern The Trustees onty use income arising during eath year for grants and th) nol spend fnore than treir annual income ea¢h year. It is Th)t envisaged that ihere 11 be firture oynrnrtrneNs that exceed future income on a annual basis therefore the trustees are happy the current reswve thl. The InJs¢ees a of the wew that the Trust is a going Con. Examptions from Disclosure Thère are no exempb'ons from disdosure. Page 2
AMBROSE AND ANN APPELBE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2025 (cont) The law applicable lo charitss in ErKJLgncl & Waks wvire5 the Tru5tee5 to prepare finw¢ial stat8rnents for èatr finanaal year whth give a true and fair vw of Chanvs finanoal actimtes during the year and of Its financial poSitn at the erKI of the year. In preparing financial statetnents giwrKJ a thje and fair VEV4, the Trustees should follow best practs'ce and. seleca Sultsb accounting rlIce5 at¥J then apply them o)nsistenty. make ju(J8fflents aad 8sb"matès that are and pnlenl. stale whether applicab accounbng standards and ststernents of fecommeTThJed practs.ce have been followed. subject to any departures dL8dosed and in the final statements and. preparè thè financial statements on the gryThJ U)rM bas unl8ss rt is inaroropriate to presurne that the Charity will conb.nue in operabon. The Trustees a pOns1t)le for kewng untir) recL¥ds ¢Yw105e vth reasonab accuracy the financial posits. of the Charty and which enab ihw to er6 that the finanual 5taletnents comply wth applicabk law and reguLqtons. They are also re¥As1O for safeguarding assets of the Charty an¢J hence for taking reasonab steps for the prevention ar¥J detecth)n of fra(kY an¢J otsIrrulSrrts Signed on behalf of th• trust•es: Dats.. 13 .g .z025 . Page 3
AMBROSE AND ANN APPELBE TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES IN RESPECT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 I report to the Trustees on my examinatK>n of the accounts of Ihe Ambrose and Ann Applebe Trusl for the year ended 5 April 2025 wh1th are set on pages 5 to 9_ Responsibiliiies and basis of report As the charity trustees of the Trust you are responsible for the prepawab'th) of Ihe acrnurts in accordan( th the requiretnents ol the Charities Act 2011 I'the Acl). I report in respect of my examinatK)n ol the Trusfs accounts caffled out under sectiin 145 of the 2011 Act and in carrying out my examination I have tAliK¥ed all the apph"Cab Directions gi¥En iry the Charty Commission under section 14515) (bl of the Act. Ind8pendent examiners ststement In wnnection vthh my examinath)n, matter has (xbme to my attenb"on'. a¢xounling re)rdS were not kept in respect of the Tnjst as fequired by sectK)n 130 01 the Act,. or 2. the accounts do not accord with those re¢wd$." or 3. the accounts do not Cn[l wrth the appIThb reqU1MentS concetning fortn and content ol the accounts set out in ihe CharitE5 {AOnts and Rew)rtsl Regulath)ns 2(N)8 other than any requirement that a(OUnt5 give a 'true atvj fairf is mt a matteF considered as part of an independent examinatw)n. I have no concem5 and have come a¢yoss no olher matters in ConntK)n wlh examinatw)n lo which attention should be dtswn in this report in order to enaue a proper understanding ol the accounls lo be reaL&. Mrs Julia Strike TEP One Bartholomew C105e London ECIA 7BL Dale ai 2f Page 4
AMBROSE AND ANN APPELBE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Unstricted Fund 2025 Total 2024 INCOME & EXPENDITURE Income and endowments from: Investments 72.104.45 75.759 Donation5 and other sums re¢eNed 75,003.75 92,500 Total income and endowments 147,108.20 168,259 Expenditu on: Charitable expènditure Giants Support costs 51,700.00 4.612.14 39.1(M) 5,494 Total expenditure 56,312.14 44,594 NET INCOMEIIEXPENDITUREI 90,796.06 123,665 Nel {lossesl on invèstments 116.662.SSI {8.1721 N•t incomellexpenditUTel 74,133.51 115,493 Reconciliation of funds Fund balances brought lorw8rd 1A21,847.37 1.3(K,354 Total funds carried forward at 5 April 2025 1A95,980.88 1.421,847 Page 5
AMBROSE AND ANN APPELBE TRUST BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Fixed As¥ets Investments 1,453,145.07 1.391,820 Current As¥8ts Cash Debtor- HMRC 32.835.06 15.IJOO.75 30,981 47,835.81 30.981 Less: Current Liabilities Amounts falling due within one year Broadfield Law LLP fee Grants payab 954 5.000.IXI Net Culnt Assets 42.83&81 30,027 Net Assets 1.495.980.88 1.421,847 Fund¥ Unre5trictad funds 1.495.980.88 1.405.1( The financial ststements We apryoved by the Trustees and S¥Jnl tFEir i*h8Wby' Mrs V Thomas Trustee Date 1£,8.2Q)2{, Page 6
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 1. Accounting Policies Basis of accouni The financial statements have been prepared Und the histori(xl cost convenbw. the exp.on that investments a shown at market value as al the balance sheet date and a in accordan th the Statement of Recommended Practice.. A¢xountng and Repotbng by CharitEs preparing their accounts in accordance wth the Financk41 Reportjng Standar¢J applKable in the UK and RebI ol Ireland IFRS 1021 leflective, 1 January 2015} and the Charit5 Act 2011. The charity cmslrtules a pU1J benefit Èntity as defined by FRS 102. Havng 8ssessed the Charrtls finanoal )l)n and plans fv the forseeable fulure. Ihe TIu5tees are satislth that it femains approwiate lo prepare the finan(xl slatements on a going concern basis. Where neSSary estimates and judgements arè based on historical eyperEnfje arxl olher factors. Ex enditure A1iability and rdated expendrture is r8u)gnised when Ihere 15 a kgal or ¢))n$trucb"vè 019at at Ihe balance sheet de as a Sr( ol a past event, thal is h'kety to be settd and thalrt be measured reliabty. Furyds The Unrestricted Fund comprises I1e fu15 whKh Ihe Ttustees are free lo use in aordanI wth the charitable objects. Charitable Grants Grants are recognised when the Trust8es have made a deasion to make a paytnellt and that decision had been communicated lo the rÉCip1 and it is prObaLe that payment will lake a. However, the recognibon of any liability wil be dependenl on any Co1rtionS attathing tts the commrfment. Investments Investments are stated al markel value as al 5 Aw"12025. Investrnent gai)s and b)sses are disclosed in the Inveslment Income Investmenl income and tax IVerab are acxounled for a re(£Nab ba&s. 2. Donations and other sums receÉv 2025 2024 DonatK*ns {inclUdg Grft AKII 7S,003.7S 75,759 3. Charitsble Expenditure 2025 2024 Grants made during the year lotalled-. 51,7rM).00 39,100 Support costs Melro bank charge Legal & profess81 VAT Inon recoverabkl 0.12 3,835.00 777.02 4.612.14 10 4.570 914 5,494 56.312.14 44,5g4 Page 7
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 IconLI 4. Inve$tments Movements on quoted invéslments wère as fdl¢x¥s". 2025 2024 Market value brought lorward Add.. acquisilk)ns al cost Nel {10ssI on revaluation 1.391.820.51 77.987.11 116,662.551 1,3C6.859 93.133 18, 172) Market value * year end 1,453,145.07 1.391,820 Historie Cost value at year end 1.179,553 1,101,566 All investrnents are situated in the UK and listed on a re(x)gnrsed st(xk exchange Investments which represent 5% or more of ihe totaj portr00 are Consided by the Trustees lo material and are". 2025 2024 M & G Charifund- IrKome Unrts M & G Charifvnd- Ao)Jm Units 6120% 38.8 61.070 38.93° 5. Investment income 2025 2024 Income from UK investments 72.104.45 75,759 6. Movarnont in Funds 2025 2024 Unrestricied Funds General fvnd Fund waluè t*oughl forward Add Net movemenl in fuThJs 1,421,847.37 1,3C6,354 74,133.51 115.493 Fund vakne at year end 1,495,980.88 1,421,847 Net movement in rKIS {abovel. arises as follows". 2025 2024 Unrestricted Funds General lund Incotne Gains and bsses 147.108.20 116.662.551 168.259 18.1721 130,445.65 160,087 Less.. Expenditure 56.312.14 44,594 74,133.51 115.493 Page 8
AMBROSE AND ANN APPELBE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 {conL 7. DiscIur• of Trustees. Remuneration and Expènsès None of the Trustees have been paid any remuneratx)n or recewed any olher benefits trotn an employment wrth their charity or a related enbty, no trustee expenses have been inwtred nor have there been any reL31Èd party transactions n the reporting period thal require disdosure. 12024 also £0 in all cases). Independent examination l&s are charged they are part of Broadfiekl VK LLP'S gweral expenses. The functions are tarried out separately within Btoadfiled Law UK LLP. 8. Employees The Trust does not have any eyeeS {2024.' none). Page 9