harity registration number 208758 (England and Wales)
THE FirroN TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
¢? xeinadin

THE FirroN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
RLShaw
K J Lumsden
E M Lumsden
L P L Rivers
JCPBond
Charity number (England and Wales)
208758
Independent examiner
Xeinadin
2 Upperton Garilens
Eastboume
Easl Sussex
United ￿"n￿10M
BN212AH
Bankors
CaterAllen Private Bank
9 Nelson Streel
Bradford
BD1 SAN
Sollcltors
Penningtons Manches Cooper LLP
Botlle Works
The Bars
Guildfonl
Surrey
GU14LP
Investment advisors
Bmwn Shipley & Co Limited
No.1 Spinningfields
1 Hardman Street
Man¢hesler
M3 3EB

THE FirroN TRUST
CONTENTS
Page
Trustees. report
Independènt examinels report
Statement of finanual activities
Balance sheet
Notes lo the finan￿￿1 ststements
7-14

THE FirroN TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees pres8nt their annual report and financial 5tateffents lor the year ended 5 April 2025.
The financial statements have been prepared in accordance wth the accounting policies set out in note 1 to the
financial statements and comply with the trusfs governing document, the Charities Act 2011. FRS 102 Yh8
Financial Reporbng Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charittes.. Statement of Recommended Practtce applicable to charib.es preparing their accounts in
accordance with the Finanual Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021".
obje￿1¥e$ and a¢livtties
The objects of the charity are to benefit by way ol grants such legalty charitable insbtutions as the tmstees shall in
their absolute discreb'on Ihink fit. The trustees meet three limes a year and consider all grant applications seeki'ng to
award grants to projects andlor ￿￿seS they deode worthy of available charity revenue.
PubliG benefit
The trustees have paid due waril to guidance issued by the Charity Commission tn deciding what activities the
trust should undertake.
Achievements and perforniance
Signifioant activihes and achievemenls against objectives
The Trustees are pleased to have made or agreed grants during thè year lotalling £100.00012024.. £72,700) which
were in accordance with the objects of the charity and have wntributed to g(x)d and just causes in the UK and
across the world. Funded donations have resutted in diieu benefit to all 207 grantees12024'. 2501.
Flnancial review
The performance of the trust's portfolios continued to perfom as w8118s could be expected in the e¢onornic climate,
with the Endowment Fund porttolio providing tim￿eighted retums of 1.84°k12024". 6.30°Al and the Legacy Fund
portfolio retums of 1.83O/¢ 12024.. 7.01°￿) . The income yield of the Endowment Fund investments for the year were
3.60%12024". 4.410/•l and the Legacy Fund portfolio was 3_56% (2024.. 3.76°A}.
The toial income generated from the two p)rtfofios was £99.864. which was made available for the trust to Use for
its charitable activities.
ReseNes policy
The trust does not h3ve a specified reserve poliry lor unreslricted fijnds as the charitable activities are funded Irom
inwme generated by the endowment fund, and the designated legacy fund. wth investment management fees
being paid diwUy. FLJnds are h8ld in the trusvs bank account io cover known expenditure and the trustees consid8r
that reserves at this level a￿ sufficient to ensure they will be able to conb.nue the trust's current activities. This level
of rèsgrves has been maintained throughoul the year.
Investmentpolicy
The trustees. overall investment strategy is for investment in rnedtum risk securities wth a view to reasonable
capitsl growth and steadily increasing income. The trustees Iherefore (x)nsider the minimum reserve held al any one
time need be no more than is sufficient to cover short-term anticipated expenditure. both on grants and
administr8tion. together with a contingency to Ènsure liquidity. eliminate bank charges and provide flexibi15ty to
respond to special or urgent funding applicab"on5.
Structure. governance and management
The trust is consbtuted by a Court Order dated 14 February 1964 made following an application under the variats.on
of T¥usts Act 1958 by lamongsl others) the trustees of the Will of Thomas Cliffe Fitton who died on 8 April 1928.

THE FIThON TRUST
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
The trusttres who seNed durirvj the year and up to the date ofsignatur8 of ￿ financial staternents were".
RLShaw
K J Lumsden
E M Lumsden
L P L Rivers
JCPBrand
Recruitment and app￿￿*￿ent of trusfees
Trustees are appointed by rèsoltrtion of the tnjstees. By a Charity Commission Order dated 28 Novembtsr 2003 the
maximum number of permitted trustees was in(yeased from four to eight.
The Iruslees. report was approved by Ihe Board of Tnjstees.
RLShaw
Trustee
E M Lumsden
Trustee

THE FirroN TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FIThON TRUST
I report to the trustees on my examination of the financial statements of The Fitton Trust (the trust) for the year
ended 5 Apnl 2025.
Responsibilitles and basis of report
As the trustees of the trust you are responsible for the preparation of the finanual statements in accoTdance with thè
requirements of the Charities Act 2011.
I report in respe¢t of my examination of the tnJsl's finanaal statements carried out under section 145 of the Charities
Act 2011. In carrying out my examination I have foll0v￿j the Diwtsons given by the Charity Commission undei
section 14515llbl of the Charities Act 2011.
Independent examrnerfs s&itèment
Since the trust's gross income èxceeded £250.000. the independent examiner musl be a member of a body listed in
section 145 of the Charitie5 Act 2011. 1 confimi that l am qualified to undertake the examinatitsn because l am a
member of the Insb'tute of Chartered Acc¢yJntants in EnglarKI and Wales, which is one of the listèd bodies.
Your attention is drawn to the fact that the charity has prepared the fjnancial ststements in accordane8 with the
relevant version of the Statement of Recommended Practice applicable to charities preparing their financial
statements in accordance with the Financial Reporb'ng Standard applicable in the UK and Republic of Ireland IFRS
1021 In preferencé to the Accounb"ng and R8porbng by Charities.. Statement of Recomrnended Practsce issued on 1
April 2005 whiGh is ￿ferred to in the extant regU￿tIOnS but has now been withdrawn. l understsnd that this has
been done in order for the financial statements to pmide a tnje and fair wew in accordance with UK Generally
Accepted Accounting Practice.
I have cornpleted my exarnination. I confirm that no matters have come tr) my attention in connection with thè
examination giving rne cause to believe that in any material respect-.
accounting rewrds We￿ not kept in respect of the trust as required by section 130 of the Chanties Act 2011.
the financial staterHents do not accord with those records- or
the finanaal statements do not comply with the applicable requirements conceming Ihe fom and content of
financial statements se( out in the Charib'es IAccounts and Reports) R8gulab"ons 2008 other than any
requirement that ihe financial statements give a true arKI fair view, which is rK>t a matter considered as p8rt of
an independent examinatson.
I have no concems and have come across no other matters in connectt<)n wth the examination tts which attention
should be drawn in this report in order to ènable a proper undefstsnding of the ffnanoal statements to ￿ rèached.
And￿W Hill FCA
Xeinadin
2 Upperton Gardens
Eastboume
East Sussex
BN21 2AH
Uniled Kingdo
Oate..

THE FirroN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2025
Current frnancial year
Unrestricted un￿$trIC*d Endowment
funds
funds
funds
general Legacy fund
2025
2025
Totsl
Total
2025
2025
2024
Notes
Incom• from:
Investments
31,052
68,812
99,864
107.282
Total income and
endowments
31.052
68,812
99,864
107,282
ExpendÈture on:
Raising funds
Charitable activities
7.239
42.900
16.095
23.334
129,844
22,567
97.087
86,944
Total 8xpÈndilure
86,944
50,139
16.095
153,178
119,654
Net gaIn￿(loSses) on
investments
10
18,079)
121.3271
129,4061
39,836
Net incornellexpenditurèl
186.9441
{27.1861
31.390
(82.7201
27,464
Transfers belween funds
87,Th)1
20.020)
166.9811
Not movement Sn funds
57
147,1861
135,5911
182,7201
27,464
Reconcillation of fvnds:
Fund balances 8t 6 April 2024
6.998
682.631
1,445,367
2,134,996
2.107,532
Fund balancès at 5 April 202S
7,055
635,445
1.409,7T6
2.052,276
2.134.996
The statement of financial activibe5 includes all gains and losses recognised in the year. All incKJme and expenditu
derive from continuing activrties.
The noies on pages 7 to 14 fom part of these finaniid stslements.

THE FIThON TRUST
STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Prior financial year
Unrestri¢ted Unrestricted Endowment
funds
funds
funds
general Legacy fund
2024
2024
Total
2024
2024
Notes
Income from:
Investrnents
32,425
74,857
107,282
Total in¢ome and endowments
32.425
74,857
107,282
Expendtture on=
Raising funds
Charitable acts'vities
6.889
2.220
15,678
22.567
97.087
94.867
Total expenditure
94.867
9.109
15,678
119.654
Net gainsllbsses) on investments
13.985
25,851
39,838
Net in¢omellexpenditure)
{94.867)
37.301
85.030
27,464
Transfers be￿￿ttn fijnds
74.811
174,8111
N8t movement in funds
120.0561
37,301
10,219
27,464
Reeon¢ilialion of funds:
Fund balances at 6 April 2023
27,054
645.330
1,435,148
2.107.532
Fund balances at 5 April 2024
6.998
682,631
1.445.367
2.134,996

THE FirroN TRUST
BALANCE SHEET
ASAT 5APRIL 2025
2025
2024
Not•s
Fixed assets
Investments
12
2,042,515
2,102.393
Current assets
Debtors
Cash at bank and in hand
13
20
63.403
35,462
35.462
63,423
Creditors.. amounts falling due within
one year
Other creditors
14
25.701
30,820
Net current assets
9,761
32,603
Total assets less current liab41ities
2.052.276
2,134.996
Th8 funds of the trust
Endtswment funds
Unrestricted funds- general
Unrestricted funds- Legacy fvnd
15
17
16
1.409.776
7,055
635,445
1,445,367
6,998
682.631
2.052.276
2,134,996
The financi
statements were approved by the tnjst
RLShaw
Trustèè
E M Lumsden
Trust•È

THE FirroN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
Accounting poli¢ies
Charity infomiatlon
The Fitlon Trust is conslituted by a Court Order dated 14 February 1964 made folkmng an applic8tion under
the Variation of Trusts Act 1958 by (amongst others) the trustees of the Will of Thornas Cliffe Fitton who died
on 8 April 1928, amended by order dated 28 November 2003 and resolution dated 30 MaiGh 2006 as
amended on 16 Octobèr 2018.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Injsfs goveming do(￿Ment, the Charities
Act 2011, FRS 102 The Financial Reporting Stanijard applicable in the UK and Republic of Ireland" and the
Charib'es SORP "Accounbng and Reporttng by Charities.. Siatefflent of Recommended Practice appli¢able lo
charities preparing their accounts in a￿)rdar￿e wth ihe Finanaal Reporbng Standard applicable in the UK
and Republic of Ireland IFRS 1021. The tnjst is a Public 88nefit Entsty as defined by FRS 102.
The trust has taken advantage of the provisions in Ihe SORP for charities not to prepare a statement of cash
flows.
The financial ststements have departed from the Charities IAcc(xJnts and Reports) Regulatitins 2008 only to
the extent required lo prowde a true and fair wew. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version tsf the Statement of
Recommended Pradice which is referred to in the Regulations but whith has sit7ce been withdrawn.
The financial statements afe prepared in steding. which is Ihe functional currency of the trust. Monetary
amounts in these finan(ial statements a￿ rounded to rhe nearest £.
The financial staternents have been prèpared under the histtirical ￿$t convention. The principal a¢￿unting
policies adopted are Set out betow.
1.2 Going concem
At the time of apprtswng the financial statemènts. the tnjstees have a rèasonable expectation that the trust
has adequate resoijrces to continue in operational existence for the foreseeable futu￿. Thus the trustees
continue to adopt the goiThJ con(*rn basis of accounting in preparing the finanaal statements.
1.3 Charitabl• funds
Unrestricted funds are available for use at the discrelion of the tnjstees in furtherance of their charitable
objecbves.
Restricted funds are subject to speufic condth.ons bv donors or grantr)rs as to how they may be used. Th8
purposes and uses of the ￿Stricted funds are set out in the notes to the finanual statements.
Endowmenl funds are subject to specffjc conditions by donors that the caprtal must bo m8illtained by the tmst.
1.4 1n¢ome
Income is reo)gnised when Ihe trusl is ￿9alty entitled to il afier any perfomance conditions have been met,
the amounts can be measured reltabty. and tt is probable that income will be r￿1ved.
Legaoes are recognised on receipt or otherwise rf the tnjst has been notthed of an impending distrlbution. the
amount is known. and receipt is expected. If Ihe amount is not known. the legacy is treat￿ as a contingent
asset.

THE FirroN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Accountlng policies
Icontinued
1.5 Expenditur•
ExpenditLJre is recognised On￿ the￿ is a legal or con5truthe obligatK)n to translei economic benefit to a
third paty. il is probable that a transfer of econom￿ benefits Mll be required in setUemenL and the amount of
the obligation can be measured reliably.
Expenditure is dassified by activty. The costs of each activity are made up of the total of drrect costs and
shared costs, induding support costs invofved in undertakn.ng each activrty. Direct costs attnbutable to a single
activity are allocated directly to that acttvrty. Shared costs which contribute to more than one acb'vity and
support costs which are not attributable to a single activity are aptx)rtioned bety￿en those activities on a ba51S
consistent wlh the use of resources_ Central staff costs are allocated on the basis of time spent,
depreciation (*8rges are allocated on the pO￿oft of the asset's Use.
1.6 Fixed asset investments
Fixed asset investments are initially meas¥Jred at transaction pric* exduding transaction costs. and are
subsequently measured at fair value at each retxyting date. Changes in fair value arè recognised in net
incomél1expenditu￿I for the year. Trnnsacb"on costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivabnts inrjude cash in hand, deposils hekj at call with banks. other short-t8mi liquid
investments with original maturities of three morths or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in cutrent Iiabilifies.
1.8 Frnan¢ial instrum•nt5
The trust has elected to apply the provisiortrs of Section 11 'Basic Financial Instruments. and Section 12 '0ther
Financial Instruments Issues. of FRS 102 to all of tis financial inslTuments.
Financial instruments are recognised in Ihe tnjsfs balanc8 sheet when the tnjst becomes party to thè
contractual provisions of the instrument.
Financial 855ets and liabilities are offset. with the net arnounts presented in the financial statements. when
there 15 a legally ernfor￿able right to set off the recognised amounts and there is an intention tts settle on a net
basis or to realise the asset and setlle the Ikability simultaneousty.
Ba￿¢ flnanciTal assets
Basic financial assets. which indude debtors arKI Cash and bank balance5, are In￿allY measured at
transaction price including transactiorb costs and are subsequentty camed at arnorb'sed cost using the effecbve
interest method unless the arrangement (x)nslitutes a finan(xng transaction. where the transaction is
measured at the present value of the futuré receipts discounled at a market rate of interest. Financial 8ssels
classified as receivablè within one year are not am0￿Sed.
8aslc finan¢iTal liabilitles
Basic financial liabilities, including rAedilors and bank h)ans are initially recognised at transaction price unless
the arrangement constitutes a financing transactton. where the debt instrument is measured at the present
value of the ftsture payments disci)unted at a market rate of interest. Financial liabilities classified as payable
within one year are not any)￿Sed.
D8bt instruments arè subsequenyy carried al amortised cost. using thè Èffective interest rate method.
Trade creditors are obligations to pay for goods or sèrvi￿$ thal havé been acquirèd in the ordinary coursè of
operations from Suppliers. Amounts payable are dassffjed as current liabilities rf payment is due within one
year or less. ￿ not. they are presented as non-cufTent liabilib"es_ Trade creditors are recognised inib.ally al
transaction price and subsequenuy measured at atrKxbsed ¢>)st Using the effective Inte￿$t method.

THE FITTON TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Accounting policles
(Continued)
D8recognition olfinan¢ial liabilities
Financial liabilities are derecognised when the Injst's (x)ntractual obligations expire or are discharged or
cancelled.
Income from investments
Unr•stricted Endowment
funds
funds
Legacy fund
2025
Total Unrestrletèd Endowment
funds
funds
Legacy fund
2024
Total
2025
2025
2024
2024
Income from listed
investments
Interèst weivable
14,851
16.201
33.008
35.804
47,859
52,005
17,267
15,158
39,045
35,812
56,312
50.970
31,052
68,812
99.864
32,425
74,857
107.282
Expenditure on ralslng funds
Unrestricted End¢)wmÈnt
fvnds
funds
L•gacy fund
2025
Total Unrestricted Endowment
funds
funds
Legacy fund
2024
Total
2025
2025
2024
2024
Investment
management
7.239
16.095
23,334
6.889
15,678
22,567
Expenditure on chari¢able acttvitses
Grants to
charitiès
2025
Grants to
charitiès
2024
Direct Costs
Grant lunding of actiV￿"ÈS (see note 5)
100.000
72,700
Share of 5UPPOrt and governance costs (see note 61
Governance
29,844
24,387
129,844
97,087
Anatysi$ by fund
Unrèstncted funds- general
Unrestricted funds- Legary fund
86.944
42,900
94.867
2.220
129.844
97.087

THE FIThON TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Grants payable
Grants to
Charities
2025
Grants to
charities
2024
Grants to insbtutions {207 grantsl.-
Total of grants under £1,000
Reverse Rett
Better Planet Educab'on
60,000
20.000
20.OIJO
72.700
100,000
72.700
Support costs all¢xated to activities
2025
2024
Govemance costs
29,844
24.387
Anatysed between:
Grants to charities
29.844
24,387
2025
2024
Governance costs ¢omprls•:
Audit fees
Accountancy
Legal and professional
Secretanal costs and expenses
Bank feès
Meeting room hire
Trustee expenses
1,800
6,000
11,414
9.246
25
972
687
11,640
10.922
25
29,844
24,387
Net movement in funds
2025
2024
The net movemènt in funds is stated after chargi￿1<￿e￿Ill￿J}.
Fees payable for the independent examination of the tharitys finan￿81
ststements
1.800
Trustees
None of the trustees lor any persons connected with them) received any ￿MUneratiOn during the year. but
four of them were reimbursed a total of £687 travelling expenses {2024.. £Nill.
10-

THE FIThON TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Employees
The trust did not have any employees rn th15 or the previous year.
10 Gains and 10s5es on Investments
Unrestricted Endowment
funds
funds
Lègacy fvnd
2025
Total UnTestrficted Endowment
funds
funds
L•gacy fund
2024
Total
2025
2025
2024
2024
Gain51llossesl aris4r￿ on."
Revaluation of
investments
Sale of investments
6.038
{14.1171
12.649
133.9761
18.687
148.0931
24,398
110.4131
29.154
13,3031
53.552
113,7161
{8.079)
121.3271
129.4061
13,985
25,851
39.836
11
Taxation
The charity is exempt from taxalion on its ac11￿tieS because all its income is applied for charitsblè purposes_
12 Fixed asset Invèstments
Investment
portfolios
Cost or valuation
At 6 Apnl 2024
Additions
Valuation changes
Disposals
Withdrawn to bank
2.102.393
767,635
125.502
1844,7691
1108.2461
Al 5 April 2025
2,042,515
Carrying amount
At 05 April 2025
2.042,515
At 05 April 2024
2.102.393
13 Debtors
2025
2024
Amounts falllng due within one year:
Other debtors
20

THE FIThON TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
14 Other creditors falling duè within one year
2025
2024
Other cre¢Yitors
Accruals and deferred income
18,201
7,500
29.02C>
1.800
25,701
30,820
15 Endowrnent funds
Endowment funds represent assets which must be held pemianenlly by the trL¢St. Income arising on thè
endowment funds can be ijsed in accordance wth the objects of the tnJSt and is included as un￿Stricted
income. Any capital gains or losses arising on the assets form part of the fund.
At 6April
2024
Incomlng
resources
Resources
expended
Transtsrs
Galns and
losses
At S April
2025
Pemian•nt endowments
1,445,367
68,812
(16.0951
166.9811
121,3271
1,409,776
Previous year:
At 6 April
2023
In¢orning
resources
Resources
•xpended
Transfers
Gains and
lossès
At 5 April
2024
Permanent endowments
1,435.148
74.857
115,6781
174,8111
25,851
1.445.367
16 Unrestricted funds - Legacy fund
These are unrestricted funds which are wnaterial to the Irusys activtties.
At 6 April
2024
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 5 April
2025
Legacy fund
682,631
31.052
150,139)
120,0201
18,0791
635,445
Prèvious year:
At 6April
2023
Incoming
resource5
Resources
expended
Transfers
Gains and
losses
At S April
2024
Legacy fund
645,330
32.425
19.1091
13,985
682.631
12-

THE FirroN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
17 Unr85trirted funds
The unrestricted funds of the charity comprise the unexpènded balances of donations and grants which are
not subject lo specific conditions by donors and granttsr5 as lo how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 6 April
2024
ReSoU￿eS
expended
Transfers
At 5 April
2025
General funds
186,9441
87,001
7,055
Prevlous year.
At S April
2023
Resources
expended
Transfers
At 5 Aprll
2024
General fund5
27,054
194.8671
74.811
6.998
18 Analysis of net assèts be￿een funds
Unrestricted Unr•stricted Endowment
funds
funds
funds
general Legacy fund
2025
2025
Total
202S
2025
At 5 April 2025..
Investments
urrent assetsllliabilib.esl
632,739
2,706
1,409,776
2,042,515
9,761
7.055
7.055
635.445
1,409.TT6
2.052.276
Unrestricted Unrestricted Endowm8nt
funds
funds
funds
general Legacy fund
2024
2024
Total
2024
2024
At 5 April 2024..
Investrnents
Current assetsllliabilitiesl
657,026
25,605
1.445.367
2.102,393
32,603
6.998
6.998
682.631
1,445,367
2.134.996
19 Related party transactions
13-

THE FirroN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
19 Related party transactions
Icontinu•dl
During the year the trust made a grant of £20.00012024.. Nil) to Better Planet Edtjcation. Katherine Lumsden,
a trustee, is also a trtjstee of Better PLinet Educalion but was not induded in the disujssion or decision on
this grant.
No trustee received any rernuneration or other benefft from either charity in connecbon with this transaction. At
the year end there wer8 no balance5 Outstanding betW￿n the trust and Belter Planet Education12024.. Nill.
14-