2024-03-31-accounts

REGISTERED CHARITY NUMBER: 212170 RF.PnRT OF THF. TRIISTF.F.S AND FINANCIAL STATEMEN'fs FOR THE YEAR ENDED 31 MARCH 2024 FOR AiYVKEW ANDLRSON TRUST PJE c.hartered ALLiiiinldn15 & Si*ilLJI(iry AiJilitor5 2 Oakficld Road Clifton Bristol BS8 !AL

ANDKEW ANDERSON TRUST CONTENTS OF THE FINANCIAL STATEMENTS FnR THF. VF.AR F.NnF.n.11 MARCH 2024 PAge Keport ofthe'l'rusttes StAtement of Trustees, Re5ponslbllitles Report of the lDdepeThdent Auditon 7 to 10 St91emenl of ￿'1￿#￿tI￿1 Activities 12 Cash flow Statement 13 Note5 to the C'9sh Flow S'iatement 14 f4ultt lil ilie FliiunLS¥l Si¥iernents 15 10 21

ANDREW ANDERSON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The tnigtees present their reFK)rt with the financial statements of the chariry for ihe year ended 31 March 2024. The irusitts have adopied ihe provisions of Accounring and Reponing by C.hariries.' Sidl¢rTi¢ril (>f R¥LiJJiiJiiriidrd PidLLiLf avvliLtiblc Iv Llittttlics yirytttijjy Ujrii iLLwuiIts ill abwJdaJL¥¢ Wjtli tli¢ rinancial R¢porting Standard applicable in the UK and Republic of Ircland (FRS 102) {cff¢ctivc l January 2019). OBJECTIVES AND ACTIVITIES Objecilves Tljr ubjrLLivr uijd aiii) uf tli¢ TtU5t 15 to providc financial 5UPWrt to a ran8¢ of chaTitabl¢ cau5¢5 through making donations to appropritttc instltutiony and indis'iduals. Thi3 ig don¢ b). onc-otl"donotions using in¢omc g¢ncrtLtod from inv¢￿tMentS held in a fund. Looking ahead. the TThsiees will continue to evaliiate the Tnisl's inve51menl %lralegy in li¥hi ()f ¥viilviTI¥ mxrk¢i Li)Iidilii>ii%. Tlir viJ¥uiiJ¥ LutiJiiJilJiirJil lu JrswJiJiblr slr%b4lldJliiy uf ilit Ti u5t's a55Cts IcJEiaiJ15 a top pi ioi"ity. Th¢ Tru5tCC5' obj¢ctLV¢ LS to ¢nhanc¢ th¢ incom¢ and Capit￿ of thc TTus¢ ov¢r th¢ Ions tcmi. 30 that i13 ¢huritsLblc giving Can in tum b¢ ineretsJ Public benetli The rriisrees i()nfirm thAI they hdve refer￿1 iiTr Ilie ¥iii(laiiLe L4Tr11Iaiii￿ iii tlie cl￿ritY Ci)Iiiiiii%%ii)ii's ¥eiiei?I Iii¢l¢ll('.r iiii iJiilJli¥ IKiirfil ivlicii icvi¢iYii)g ili¢ T￿￿t'S alin3 and obj¢ctiY¢3 and in plannin¥ futur¢ a¢lLViti¢s and setting thc ¥rant makin¥ policy lor the ycar. Gr4nt mthkinR policy The Trusi has developed ils 8r#ni makin8 p)liry to ￿lfIl lis objectives for piiblic benefit by prL)vi(lin array nf initiativcs. fiu.sing on religious a¢livili¢s. ¢du￿1]Qn and iraining. medical and healih 5ervicc5. and overscas aid and famin¢ r¢li¢l-. The trugtees revie1￿. the grant making policy annually to ensure li *li8ns wilh the chariws objeciives and coniinues to advance public ￿nefIt. t)i)natinns arc made to individuals and institutions at thc discrclion of thc Chaimian and Tru5tccs. ALHILVEMENT AND PF.RFORMANCE The trusi lias becn ablc tu yrant dunaiioiis lo￿lI1n8 £540,750 in the year {2023 - £444,000). The donation5 have helped a variety of chiirLh groiips, ¢iillr¥¥%, I IK Aiicl itilenixliiJii81 LlbariliL%, ￿KielleN #liLI iiicliviLIILxI%. Page I

ANDREW ANDERSON TRUST REPORT OF THE TRUSI'ELS FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW 'inancial position In¢ame from investments, including dividends and intere5L contributed siKnili¢anily lo the 'lrnst's revenue tn rhe CUTTent )'ear. InvesTmenT income for Ihe year decreased 7O/y (2023 - decrease by 8QJol lo £JJJ.JYJ 12023 - £382,873)- tkni)atinns ii)ade ti) IriiliviiliiAIs rlll(I SLKieties increased by 220/0 (2023 decrew b). 4 % ) to £540.750 {2023 £444,(M)O). Costs asgociated with raising funds include investment mana%emenl fees. Accountancy and audit costs and bank charges. These costs increased by 2•/ty in the year 10 £79.857 12023.. £18,bOOI. Tht total n¢¢ ii)conic iii t])¢ ycai tu 31 MaiLIL 2024 £740.661 (2023.. Ti¢1 expen(liiiire £806,557). This Is a3 0 ￿8u11 ol-th¢ gain on invtstmrnts of £1.005.875 (2023.1055 £666.830). The cash w)sition of ihe Trnsi has increased by £18,054 10 £153,621 (2023 - £135,567) al the year-end date. Ii)veJtiiitiit yvliLy lliid vbjvLIiw¥¥ It is Ihc poli¢). of th¢ Tru51 that iinrestrict¢d funds wliich liav¢ Jlot iKCiI drsi¥irdid fui u s￿Lif1L u.%e .%liiTriil(I bo maint(Lintd tlt a l¢v¢l 3ulli¢i¢nt to mc¢t curr¢ni and oommittcd ¢Apcndilur¢. The TnJ3t¢¢3 ¥oJisidcL ilial reserves at thig level ivill ensure that, in the event of a SiRnifi¢anl drop in lunding. they will be ablc lo coniiniie ihe Tnisl's Clirreni 2ciiviiies ivhile considerdtion is given lo ways in which additional funds may be Itiiwl. Tliis Iv.vv.l ibfrv%vrvv.¥ hx¥ l)vvn m¥iniained ihroughoiii ihe year. 'I'hc .1 nistccs, obj¢rlivc 15 to cnhancc thc income and rapital of th¢ Ti'v5l ovei Ilir luii¥ l¥i111, Ill￿1 il eharitabl? giving can in turn be 1ner0ts￿. Tliv Trii¥l maintains SLifficient liquidity io fund lis charl￿ble support and ihe expense& of op¢rotion. l-hg invesliiieiit rxiliLy is ￿[11)dIr.￿lIY rvvivwv¢l willi Iliv. fiinil mMn¥ger. The mana8er during the year ivas Evelyn Partncrs LLP. The Artdreiv And¢r50n Trust committed to ro4pon5ibl¢ invcsling, reeogn13ing that 30cial, cnvironmcnlal. and eiliical coiisideraiions are inte8fdl to achieving susiainable lonb-terni relunis and luifilling our cliDritubl¢ iiii%4iiiiI A% 11AM (If iiiir inv¥¥imeni ￿lliC￿., Ive incorp)rate ihese ¢onsiderationg to ensure our invegtments align with oEir values and ci)nirihiile t￿lI1velY fli ￿)1..Ie.tY The market vlllue of the iiiveslment liind in¢r¢05cd b). £723.034 or 5.SYv 10 £13.850,017 12023.. £13,126,983). The inN'esiment income in th¢ year yielded a 2.5 / (20?3.. 2.W/ol on ilie year end inarkcl valuc. Whilst donation5 made in ihe year exceeded the invesimeni income by £185.357, the o%'erall groiith in the fiind lias iiiiprnve.d ￿[111 Ilie iiivvslmvnl Libjvi-iives have ien Satisfied. Rcscrvcs policv The anioiint of unrestricted fund5 has increased b). £740.661 10 £13.979.167 in the year (2023 £13,238,506). This is be¢ause of a rise in the market Yalue of ini'estmenls held. SiitriLient cash is held ivithiii ilie rese.rvt.s In Iw. xhlv Iii lh¥ da}'_tO•da}' suppon 8nd governanee eogts of thc Triist. There are no restriclions to the fund. Page 2

ALYDIiLW AIYDEIISUN 'I'IiVST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW R14k managemeni Tlie Tru_%l¥¥_% 1141V¥ 41 duly [() idttiilify Jnil the risks ro which the LhHriiy is exw)sed and to ensure appropriatc controls arc in place to provid¢ r¢a￿lIabl¢ assuiaiiie avil￿t fiaud ￿ld ciior. I he I ruslees hav¢ assessed the major risks to which the I rust is exp)sed and are satistied that gystems are in place to miiigaie eX￿gure io ihose risks. Tli¢ Ti￿l upcJatCS li) a Iow-i isk tiJviJviJJiirJJl. ilJ iwik aLLuuiits iKiii¥ vyriair41 by di¢ Tiusi¢¢s iiiid ilJ¥ invcstm¢n13 king h¢ld in nomin￿ accounts by th¢ inv¢stmcnt manag¢r. PrincipAI riskn And unetrt%iinlies The Andreiv Anderson -frus1 faces several principal risks and uncertainiieg related to its investment fund and ils IlllSSlOlI io SUStaii)ably provide fiiiaii¥i81 SU1)￿)rt IL) Lli&iritsl)l¥ Lllll*%. ri%k% xre review￿1 regiildrl}' IL) ¢I15u￿ effective management and mitigatlQD slral¢8i¢s ar¢ iii plac¢. K¢y I"i5ks iiicludc. l. Market risk The value of the Trust's invesimeni w)rtfolio is subjeci to fluciuatiorts due to eh2nge6 in market eonditions, inlere51 rale.4, an(1 eLi)niJmiL fALIL)rs. This risk 13 mitigat¢d b>. div¢rsifi¢ation of inicstmcnts across various asset cla55¢5. r¢gulai' iiioiiili)I'ill&> li market Londitions, ond ¥vorking iviih experienced financial udvi50rs io udjusi thc invcstment strate￿, as needed. Thc Tru.st may facc difliGultlCs in liquidating invcslmcnLs quickly withoiit sigiiificaiil Inss iii vxliir., wliii-.li co(Ild impa¢¢ ils ability to lund charilabl¢ ¢aus¢s in a limcly manncr. By maintaining a portion of th¢ portfolio in hixhly liquid assets, settin% aside cash reserves, ond plllnnlns for expected Cusli Ilow Iiccds tlic Trust Can ensilre ihal it can respond quickly. 3. Irives1ii)eiit i]eifniiTiaJiLe risk Thcr¢ 13 a risk that lh¢ Tru51'5 inv¢stm¢n15 maj. not g¢n¢rat¢ 5uificicn( income Io Inee1 its cliarilable donation t&)rgets. However. bi, selling re&lislic investmcnl pertoman￿ goals. rcgularlv rcviciving In￿estment perfomian¢e, and adjusting the investmenl slrateg). lo optimise returns, this risk can ￿ mana&p¢d. By prii#Ltiv¥ly iclrnlif)'ing an(1 m#naging Ihese risks. the Andrew Anderson Trust aims to safeguard its iiivestiiienl fuiid aiid en5111e tlie continiied 5UPIK)rt of cliaritalile cause%. Tlie Irii%lee% xre Lllllllllllle(I ILI r¢KTularly reviewing and updaling risk mana#¢m¢nl pra¢lic¢s io add￿55 cvolving challeiiges and unLerti1intie5. Page 3

ANDRF.W ANDERSON TRIIST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAC.EMENT The Trust 15 a r¢gistcr¢d charity. numkr 212170 and is coTrstttut¢d under a Declaration of Trust dated I November IY54. 1 he I rust was ¢gtablished in 1954 by Andre￿, Anderson who dicd in 1988. Since then it has been adminisiered by his family. The present Trnstees intend lo aptK)Inl other younRer members ot. the fHtntl}' additiot￿l T￿S{eeS so that the future of the adtninistration of the Trusi is secured. Thc Trustccs who served during th¢ year w¢r¢- Ali Andergon - Lhairnian Mrs ML Andergon Mrs F C Wesl M(5 C F. Ri1_4%¥1 None ot'the TnJste¢s has any bonefi¢ial inlcrcst in thc Trust. Governlng ￿￿UMen1 Tlie Llidriiy 15 Lunirolled by lis governing documenl. a deed of irusi, and Consiliuies an unincorporated l)ai ity. Decision m4kin2 The -I'riislees m¢el periodically to discuss matters such as donations. obJe¢tives, investment strategy and the flirLire dSrecTion of ihe TnLSi, makin8 sure all i￿siee$ have ihe opponunity to participate. All moQtin8s are 11)iiiul¢d iiiid diJLuiii¥iileil, Iliere is Iic) diiiibi dlxjui iih¢ll lias decided and why. Lharit). Goi'crnancc Cod DILQ to tho iiniqiio objoclis'eJ, Jtructuro llnd 0￿￿1]ng mod¢l at the Andrew And¢rJon Trnst. thc Trnste¢5 lak the view thai the 2dher¢n¢e lo the Chariry Governance CIMle should be iailored lo the rtoodJ gt th¢ .1 rust. 'I'his IIAS given the Triisi greater aiiionom>' and flexibili￿. ii'iih regards io decision-making. resources and time. All Iruslees ui)dcr5taiid ili¢ir l¢¥al Lliilies aiiil are Llbllllllilie(I li) their loiise and gMd goveniance. Decisions are madc iyith the tnL31'3 mi33i0n ai)d govcrnancc iittds iii Iiiiiid. REFERENCE AND ADMINISTRATIVE DE'I'AILS Reglstered ChArlty number ?1 ?1711 Principal a(Idre I Cole HOUSL Lan¢ Westbury-on-Trym Bristol F559 311W rustee5 AR Anderson Mrs MLN Ander50n Mr¥ F C Wvst Mrs C E Rosser Page 4

NDKLW AIYIPL'KSVN'I'KUS"1' REPORT OF THF. TRIISTF.F.S FOR THE YEAR ENDED 31 MARCH 2024 REFEREf4cE AND ADMINISTRATIVE DETAILS Audliora PJF. Clidj Irird ALLVUiJtaLit5 & Statutoiy Auditois 2 Oakficld Road Clifton Llrislol BS8 2AL liivtStiii¢iit adviJei Ivclj'n Partncrs LLP .ham Street London EC2V 7BG Approycd by ord¢r of lh¢ Erf)ard of trustecy on ................ . and signcd on its bchalt. by.. AR Andcr30n - Trustcc Page 5

ANDREW ANDERSON TRUST STATEMF.NT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 Ihe tnistees are responsible tor preparing the ReTN)rt of th¢ Trustccs and the flnancial stat¢m¢nts in accordance ii'iih applicable laiv and United Kingdom Accounting Standards (United Kingdom Generally Accepred A¢couniing Praciiee). The laiv applicable to ¢hariti¢s in E.ngland and Wale& the Charities Act 2011, C.harily (ALLiiiillls and Keportsl Kegulations 2008 and the provisions of ihc trust deed requires th¢ trnsl¢¢s to prepare financial statementg for ea¢h financial year ivhich give a ttue and lair vielv ol the stale ot. attiiirs ol. the ehgrity and of the incoming resources and applic21ion of resources. including the income and expenditure, of the charity for I11411 iJ¥riL)d. Iij pr¢pdrin¥ Ihi)se finanLial 5rarements, Ihe m]gtees are required io sclcct suitabl¢ Accounting policic5 and ihcn apply th¢m consistently" obèerve the mothod4 and principleJ in the Chorit). SUIiP; make jiidgemenrs and estimates that are reasonable and prudenL PT¥PAre the finaneial si8iemenis on ihe going concern basis unless li is inappropriate to presume that the I'he trusteeJ (Lro ro3pon3iblc tor k￿PIng propcr accounting r¢cord5 which disclos¢ with rusoiiabl¢ akbui.aiy at any time the financial wsilion of the ¢harit)' and to enoble them to cnsur¢ that th¢ linfjncial stal¢m¢nts comply iviih ihe Chariiies Aci 2011, Ihe Charil}' (Accounts and Reports) Regiulations 2008 And the i)riivi%ii)114 1)filie Iriisl LI￿1. They Are also responsible for safeguarding Ihe asseis of ihe charity and hence for Page 6

KEVUK'I. Utr. IHL IIWDEPLNDEiY"I" AUDITORS TO THE TRUSTEES OF ANDREW ANDERSON TRUST Opinion We have audited the tinancial statements ot" Andrew Anderson Tn]st {the 'charity') for thc year ended 31 March 2024 itrhich comprise the Statement of Financial Activilies, the kjalance Sheet. the Lash b'low Sraremenr and nores ro ihe financial STaTeTnenis. including a summgry. of significani a¢couniing policies. The riiJ¢lllLI(Il irwiLiiJ¥ (J(￿lj￿h¥u1K ili&il IiiL% h￿[7 appliul in iheir prepdfdiion is applicable law and Uniied Kingdom Accounting Standards (Unitcd Kiiigdoiii G¢i)cially Aweyl￿ A￿￿ul]Illi¥ PiaLIiLr}. In our opinion the finanei21 statements- give a irue and fair vieiy of ihe sraie of the charirys affairs as ai 31 March 2024 and of ils incoming r¥%i)urL¢4 Jiid uppliL¢ilii)n iifre5(IiifLes. for ihe year ihen ended. Iiav¢ b¢¢ii pro￿[]Y pr¢wrd li) accoidaiiir widi UiiiirJ Kiii¥JuiiJ ariiviiilly ALL¢pl¥d Atyu)Iiniing Practic¢: and havo boon proporod in accordan¢o with the requirements olthc LhoritiQ5 Act 2011. BASIS for opinion We coi)duitcd our audit in accordaiKe willi Iiiteiiiaiioiial %iJiidard4 Aii(lilin¥ (UK) (ISAS (UK)) and applicabl¢ law. Our r¢5pon5ibilitlC5 und¢1 ilio5¢ 5taiidaids th¢ fuJili¢i dtsLiitul iji (li¢ AudiliJiN' roJpon3ibilitlCJ tor thc uudit ol" lh¢ tinan¢ial 3tht¢m¢nts sc¢tion of. our ￿port. W¢ aK indcpcndtnt of Ili¢ charity in aceordan¢e with the ethical requirtments that aro r¢lovunl to our oudit of the finoncEoI 3totcm¢nts in ¢he Uk, including ihe FRC'S Eihical Siandard, and ike have fuifjlled our other ethical responsibilitieo in LLI)Til¢lllLe willi Ilie.%e re(Iiiireiiieiil.%. We believe Ihai ihe aiidii evidence we have obtained is sufficieni and appropriatc to provid¢ a basis for our opinion. Conclusions relatin% to going concern In ailditing the fJngn¢ial stal¢ments. u'e have concluded that the injstogs, use of the 8oin% coneern bu3is ot Accountin8 in the preparydtion of ihe fLnan¢ig1 slaiemenis is appropriate. Dased on the ivork Ive have p¢rformcd. Iv¢ havc not idciilified aiiy Iiialerial IiiiceMAi11livs ivlxliiiu Iii evviil¥ ¢ir Londitions thut. individually or collcLtiv¢li'. may ¢osi signifi¢ant doubt on the charity's ability 10 coiiliiiuc a. a going concern for a period of at leasl tikelve months from M.h¢n the fiiiuncial sthtcments 8r¢ au(horiscd lor ilgue. Our rEspoi)5ibililies and Ihc res￿lI￿11?111Ile$ nf ilie IrLi%let% willi Ic) ¥oin¥ LollLern are described in the relevant sections of this r¢kN)rt. Qther informAtio The trustees are responsible for the other informatlgn. The oiher infonnaiion con)pris¢s tlie infomiation tniliiilvil iti Ilie Aniiiidl Rvw)rt, iiihvr Ihan the financÈal 5tatefflents wid our Repon of the Indepcndcnt Auditors thereon. Our opinion on th¢ financial 5tat¢ments does not cover the other inlom)&lion and. cxccpt to the exl¢nl oihernvise explicitly staled in our report, w'¢ do nol ¢xpr¢ss any fomi of assurnnce con¢lusioll diereon. Iii Ll)iiiieLlinib Wltli niir aiiclil i)r Ihv fin¢illLiiil slal¢men15, our tr5ponsibility is to read Ihe other inforniation and, in doing so, ¢onsid¢r i%'h¢iher the othei infortnation 15 Iiiateriall) iiic(iii%i%l¥11l wil11 11)e finAlltyldl 5tht¢mcnls, or our knoiylcdgc obiaincd in thc audit or otheni'ise ap￿arS lo be maleriall), misstated. If i%'e Identity siich material Inconsislencies or apparent material misstatements. Ile Are requircd to dclcrminc whether this gii'es rise io a material misstatement in the financial statements themseli'es. If, based on the work iN'e have perfornied. il'e conclude (ha( there is a material tnisststetnent of this oiher infornjation, we ar¢ required tn reixirt tliat faLt. We liave rii)Iliirig 111 in Ihis rvg41111. Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ANDREW ANDERSON TRUST Matiers OR wbieh we are required to reptsrt b). exceplion We have nothing to report in respect of the folloiiing mallers where ihe Charities (Accounts and Reports) Regulatinn% 2008 requirt% tn reix)rt tn if. iii opiJ)ti)ii." the inforniation given in the Report of the Truste¢s is inwnsi5tent in any material respect wÉth the tinancial statements: or siitfieient accoiinting records have not been kept- or the finartcial siaiements are noi in agreemenl i￿LIh the accounting words and retums. or ve Iitive iiiil I¥LelVe(l All Iliv irifiirtndiliiJTi ¢ln(I vxplHn411ioins iv¥ ryijire for our audit. Responsibilitiey oftrustees As explained more tull}' In the Statement ol l rnstees. Kesponsibilities, the Iruste¢s are restK)nsible tor the preparaiion of the financigl giaiemenis which give a true and fair vieiv. and for guch intemal ¢onlrol as the Ir1151ees (leiermine is ￿eLeS￿Hry io enable ihe prepararion of financial siaiemenis thal are free from maierial 111155tat¢JLi¢JII, ￿litt[j¢1 dur Iv fiaud ui ciivi. In preparinR the financial Slat¢Men￿ the trustees are resw)nsible lor assessing the ¢harity'$ ability lo continiie as A going concern, discloging, as applicable, mallers relaied lo going coneem and usinxtr the Roink concern ba8ls of accounTlng unless ihe irusiees eiiher iniend u) liquidate ihe ¢hariry or to cease operdiions, or Pag¢ 8

REPORT OF THE INDEPENDENI AUIPII'VKS'1'U"I'HL'I'KUS"IE'ES OF ANDREW ANDERSON TRUST our responsibilities for the audit olthc financial statcmcnts We have been appointed as auditors under Seetion 144 of the Lharities Act 2011 and report in a¢¢ordan¢e with ihe Aci and relevanT regulaiions Tnade or having effeci Ihereunder. Oui obj¢btiv¢s ar¢ to obtain i"¢asonabl¢ a55uiaiic¢ aih)ut wlictlici Ilir fiiwi¥ial 5tat¢iii¢iits as a ivliol¢ ajt fitt from rnatcrial misstatcmcnt, %vhtth¢r duc to frnud or crror. and to 153uc a Rcport of thc Ind¢EKndcnt Auditor5 that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducred in accordance iviih ISAS (UK) Ivill ali¥ays deieci a material missi￿ement when li exists. Missrarernenis can arise frL)m fraiid or error and are considered m21erial if, individiially or in ihe aggregate. tliey Lould reasonably bc cxpectcd to influence the ccoiioiilic decisions of users takeii oil the basis of tl)ese financial stat¢m¢nts. Explonation as ¢0 wh41 ¢xl¢n¢ ¢he 4udit was ￿lIsid￿re￿ eapable of d•toeting irregUl￿nti•$, including frAud Irr#¥iildrili¥%, iriLludiiig fiaud, ale iii%iariie% i)f rii)ri-uTriiipliyiiL¥ willi uii¢l T¥giiluliiiii%. W¥ Ilv%i¥ pr￿edureS in lin¢ with our r¢sponsibilities. outlined aknv¢. lo deiecl irregulariti¢s, including fraud. The risk of not dctCCtin￿ a matcrial mi3stat¢m¢nt du¢ to Iraud is highcr than thc risk ol- not dctccting on¢ rc5ultin from orror, froud may involvo doliborato ¢on¢oalment by. for examplo, forgery or intentional misrepresentations, or through collusion. The exieni io ivhich our procedures are capable of detectin8 irregiilariiies, incliidiny fraii(l is deiaile(I IM&lc)w Hc)Ivever, Ihe primary.. responsibiliry, for the prevention and deleilioi) of fi'aud r¢sts ivitl) l)oili those cliarged with goY¢n)aii¢¢ of ih¢ ¢iiiily aiid 11)aiiagei))¢i)l. AS part ol. our audit planning. wc obiuined on und¢rJlundinR ol'thc l¢gfjl and rcgulutoTh' Iram¢M'orks thot arc appliLable to the Lhariiy and deterniined that the mosi Sibinificaiii are FRS 10? (United Kinbldom Generally Accepied Accouniing Praciice), Chariiies Aci 2011 and relevani legislation, Charity Commission for EnglAnil An(1 W Alp fTviivfAI nAIA PrI.)I￿.11(ln Rv¥iilAltLin (CJllPRI reqiiireiiiei)t.S, 7Liili-hrl￿ry and corruption regulati(NiS: and tli(bse that l)ad fiii)daiiieii1al effec1 1)11 Ilie opcrations of thc charity such as fundraising r¢8ulations which sct out thc standards for cthical and Ironspllreni fundroisinx. We undersiood how the Andrew Anderson Trus1 is compl}'in8 Il'lth those frJm¢ivorks by holding enquiries ov¢rrid¢ ¢oiitri)Is and identifled individua15 Ivho havc responsibility for ensurin8 tlial th¢ Charity conipli¢s with law5 and r¢gulalions and denl ivith rew)rting ani. issues il. Ih¢%' ariK. As part ol. our planning procediires, we assessed the risk of non-compliance with laws and Jrxulalions on the chorit} s obilil}' lo coniiniie operating and the risk of material mi5Statement to the financial slatemenls. Rased nil thi% uiiderstandin8 we designed oiir audit Pr￿edureS to identify iion-coiMI)liaiice witli sucli law and regulation5. Oiir pro¢edur¢5 involved the following.. In5p¥¥lion llnd revie￿. ol-the chArity's gol'erning document: Enqiiiry, of the trustees and those charged iih governan¢¢ re8ardillR their knowledRe of any instances of non-¢oJnpliance ivith laivs and rc8ulation5 (hat could alTe¢t the financial statements; Enqiiir), of the tnis1¢¢5 anil th115e Lh41r¥vil iviih i¥hcthEr the). Hie ai%"Rre of any actual or poteiitial litigation or clainis 01 breaches of significant laivs or regulation5 applicable to the cliaiity. Inspection of documentation including relevant ¢orr¢spond¢n¢¢ and reports received from regulatory bodies: eading financial statement disclosures and testing to supporting d(￿UMentatIon to assess compliance with applicable la1Tr5 and regiilations,. and Revie¥￿ of unclerlj'ing Iiat]S<lLIioE]s Ildla 415SiILi¢ilvil with All(1 prvfv&5ional c0515 to identify any possible non-cotnplic1nCe. Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THF. TRUSTF.F.S OF ANDREW ANDERSON TRUST As pan of our enquiries ￿'e discussed ivith management ¥i,hether the￿ hai'e been any know) ingtance5, Ile¥alicins vi SllSPlLiuns of frdud, of ivhich managemeni confirnied there had been none during or after lh¢ p¢riod. We also evaluated the susceptibility ot" the chariws tinancial statements to malcrial misstatement, including how fraud might occur b}, holding enquiries with the tTUStees and those char£e41 ivith govemonce. We Iin(lersrwd rhe wieniial incenTive and abiliry io ove￿Ide controls and underst(K)d any controls put in place to reduce the opportiinities for frauduleiit traiisaLlii>ri%. The kvy risks ive identified were inceniives relatinLI to Ihc misappropriation of funds. falsificalion of donations and investment valuatioi) ta riJi%repr¢4¢nl Ihe chanty's tinan¢ial position. In response to the identified risks, as part of our audit work we: Assesging wheiher Ihe invesimenis are carried ai fair value. in line with the charity's accounting policy; Rrvic%viii¥ 41 Wlll)l¢ i>f(l(ITllllI(Ins made iu individuals and SOCI￿leS To ensure ihat the recorde41 amounts are rcccivcd and mad¢ to lh¢ ii)t¢i)d¢d yaity, Auditing th¢ risk ol. manag¢mcnt oY¢rrid¢ of contro13, through t¢5ting of J 5th11pl¢ of jOUlLial CEILiirs É￿1￿ other adjtislments for appropriateness,. Make enqiiiries wilh rhe irnsiees and investment advis()rs in order to identify and understand any si¥nificanl IruTI%IiLlI(lllS c)Iiisiile of ihe norn)al course of biisiness: and T¢5tiiig a 5aiiiylr vfili¥ uiidri lyiii¥ iiiiuiii¢ i¥LI)¥iii%¥d H¥Hiii%i r￿elp[S within ihe fund portfollo. A fiirther dcAription of our r¢sponsibilitics lor the ttudit of th¢ financial 5laittnent5 15 locat¢d oil tlic Financial RepDrting7 Coiin¢il's ivebsite ai wv.frc.org.uklaudilorsresponsibililies. 'I'his description torms part of oiir Report of the Inde￿ndent Audiiors. Use of our report 'I'his rcport is mudc 301¢ly to th¢ charity's trnstees. u 4 I￿y. iii accordaiii¢ willi Pail 4 uf ili¢ Cliw ili¥s ) Re%ultLtion ?(M)g. our audil w'ork hns bccn undcrtuk¢n x) that w¢ miblii state to Il?¢ charitj's inLStees those matters ￿'e are required lo stote to them in auditory4 report and lor no otlicr piiy.lse TL) the fiillesi exieni pemitted by tal￿., Ive do noi aceepi or assume responsibility to anyon¢ other than tlie charity aiid Ilie cliaiily's Irii%lvv.% Ixwly, f¢)r ciiir ¥iiilii work, for ihis rew)rt, or for the opinions we havc fornicd. PJE Cliartcred Accnuntanls & siatiitory Aiidilnr 2 08kliold Road Clifton Bristol BS8 2AL Date: Pagc 10

AIYDKL'W ANVL'RSYON TRUS'T STATF.MF.NT nF FINANC.IAI. AC.TIVITIF.S FOR THE YEAR ENDED 31 MARCII 2024 Period 6.4.22 31.3.24 31.3.23 Tottdl funds UThre5tri¢ttd fund Notes INCOME AND ENDOWMENTS FROM InYc5tmtnt incom¢ 355J93 J82,873 EXPENDITURE ON Raising flinds 79.857 78.600 Cli411 itable af tivili Donation3 540,750 444,000 'I'otthl 620,607 5??,600 Realised gains Unreallsed 8¥Lins 75.736 N¢t ¥ain31(1035¢3} on inv¢stm¢nl3 I,IWS,875 666 830) NET INCOMEI{EXPENDITURE) 740ffi61 {806,557) RF,COP4CILIATION OF FUNDS Total fundj brought forward 13238,506 14.045.063 TOTAL FUNDS CARRIED FORWARD 13,979,167 13,238,506 The notes torm port ot"Ihese tinoll¢ial statements Page

ANDREW ANDERSON TRUST BALANCE SHEF.T 31 MARCH 2024 31J.24 Unrestricted lllnd 31.3.23 Total tunds No￿$ FIXED ASSETS Invcstincntg 13,850,n17 1.1.126,981 CURRENT AS'S'ETS. Cash ai bank 153,621 135,567 CRIDITORS Amounts ti)Iling du¢ within on¢ ycjr (24,471) (24.0441 NET CURRENT ASSETS 129,150 11152J TOTAL ASSETS LESS CURRENT LIABILITIES 13,979,167 13,238,iO6 NET ASSETS 131)71) 167 13 7311,506 UNV5 Unresirlcied funds IJY7Y 167 13 23X.5U6 TnTAI. FIINDS 13.979,Ib7 13 238,)Ub Tlie rtllklllLiHI stmtemenls were approved by the Board of TrU￿ceS and authoriseii for issue on ￿..￿..￿................. and were si8ned on ils hehaifi?y'. /l,l /1 LL AR Anderson- Tnist¢¢ The notes forni part of these financial slatements Page 12

ANDREW ANDERSON TRUST CASH FLOW STATEMEKr FOR THE YEAR F.NffrF.ffr 31 MARCH 2024 Period Ye9r Ended 31J.24 10 Nvlcs Cash flows from operntin2 thetii'ities Lash generated from operations (264,787) 140,881) Nei cash used In operaiing aciiviiies 204.787) 140.881) Casli nows fi-om invtstittg activities A¢quisilions at cost Proceeds from Sale of investments Nei invesimeni fund aeiivity Invesirneni illL(Itrie reLeiv¢il iii fuiid {2,735,1741 2,953.817 (2111,043) (3SJJ93) 71.906 456 5bS.872 {2,39g,4891 2.637,324 (238,835) (382,873) 7J,272 384 491586 Other portfolio fc¢3 Withdrawals Irom the fund N¢t eash provided by investing #¢iivitieÈ 282,841 182,369 Chxn%e In LM%li #lid L#¥li wuival¢Jits iii tlic it1￿1.¢11)I p¢i'i(Kl CaJh and ¢aJh ¢quii'altnt3 at thc b￿InnIng ol lh¢ reportin2 period 18,054 41.488 135,567 Csh eA.gh equiTralents 1 ihe end of the reportlng perlod ISJ021 l3_5 567 The notes forni part of these financial statements Page 13

ANDREW ANDERSON TRUST NOTES TO THE CASH FLOW STATEMEiYT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLnw FRnM OVEIL4'1 IP4G AL'I'IVI I'IE'J> Period Year Ended 31J.24 lo 31.3.23 Nei incomel{expenditure} for tbt r*portinR period (As ptr the Sraiemeni of Flngnclal Aeilvllles) AdjusliiitJilJ fur- (CJainYIo$5¢5 on inve5tni¢i)tS Incroos&l{docrou%l in ¢r¢ditors 74V,661 I¥U6,5571 (1.001071) 427 666,830 l.li4) Net eash used in operntions ANALYSIS OF CHANGES IN NET FUIYDS Ai 1.4.23 c.ash flo At 31.3.24 Net cash Cash a¢ bnnk 135 IY.U54 15J621 I Jq,I07 18,054 153621 The notes fomi part of tliese fin4lllLiAI 51atetnents Pa¥e 14

AIYVKLW AIYDLKSUN'I'KUSI. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES vf yr¢y&•l"iug fillaiiLial slaleiiieTrly uf¥viJi¥ LVIILtIii Th¢ findllcidl stat¢m¢nts of ih¢ charit).. Ivhich 15 a public Ixn¢fit tntity und¢r fRS 102. havc bccji prepaTed in ac¢ordan¢¢ with the Charities SURP IFRS 102) 'Accounting and Keporting by Charities.. statement of Recommended Praetiee 8ppli¢8ble lo charilies prepgring their aecounls In a¢¢ordance Iviih The Financial Rewning Siandard applicable in the UK and Kepublie of Ireland (FRS 102) (¢ff¢uliv¢ l JdllU&iry 2Ql 9)., FiTixiILiJI RetM)rlill¥ S1dn(Idr(I IQ2 'Tli¢ FiTianLial Repi)rtin¥ Sidll(Idr(I applicabl¢ iii the UK and R¢public of Ii-¢laiid' aiid tli¢ ClTrai iti¢s Aci 2011. Tli¢ fill￿1￿1a1 5tat¢iii¢Jils hav¢ bccn prcparcd undcr thc hiytorical cost convcntion. w'iih thc ¢xc£ption ol- invc$tmcnts which arc in¢ludod at market value, ￿ modified by th¢ rgvolualion of Certain a"".el. The financial statements are presented in ￿unds, which is ihe functional currency of Ihe Fund. Th¢ trust¢¢5 considcr that ih¢r¢ ar¢ no matcrial unccriainlics about th¢ Trusl's ability to continuc a5 a going concorn. When ttJJeJJing the 8oinx concern the Irust¢¢s b¢li¢v¢ ihat th¢ 'lrust hag adequate cash resetves, inveslmenls and a svslainable income St￿aM to cover its operatin8 expenses and meet Lts financial eommitments as they beeome due. Thcrc 15 no evidence of finan¢ial disiress, such as ovcrduc payablcs, significant liabilities. or creditor p￿Ssu￿ that could jcoptsrdisc the Tru3t's ability to ¢onlinu¢ opcrfjling. Thc Trus1 has a history of effective financial mana¥¢ffl¢ni and prudent financial plaiiiiing, d¢nionslrnting its ability to allocL*le resour¢es effi¢i¢n¢ly #nd adapt to ehansin8 cireum$tanees. or an unfor¢s¢¢n Crisis. that would rais¢ doubts about the charity's ability to continuc its op¢rati(Fiis. 'lThc bharity operutes in u rcgulaloTh' environmciil Ilial is Conducivc to its continued ¢xisl¢n¢¢. with no imminent legal or regulaiory ihreats thai ¢ould di5nipi ils operations. Income All iiii(Iine is recognised in the Statement of Financial Activities th)¢e ilie Cliarity lias eJi(iileiiieril tii the funds. it 15 probablc that thc incomc will bc rcccivcd and the amounl Can be m¢asur¢d r¢liably. Expertditure Liabilities are reLognised as expendiiure as s￿n as Ihere is a leyal or eonstructivc obli8ation Lcimmilliiig Ilke LlIArily lil IliAI ex1￿17￿11111fe, it is pn)hal)le IIIAI A Irdnsf¥r lif ￿)ni)MiL b¢nvfil5 15'ill b required in setil¢m¢nt and ih¢ amount of th¢ obligation ¢an IK measured reliably. Expenditure i accountcd for on an accrua15 basis and ha5 iKcn classificd undcr hcadings thal ag&>regate all Lost relal¢d to the cateKory'. Where cost5 cannot be direLtI)' allribuled (o particular headiiikT5 (hei liuve been allocated to aciivities on a basis consistent iviih ihe use of resources. CirAiII.% i)ffered siihject In coiiditiniis ivhich liave not EKen iiiel al tlie year-encl Cl￿1¥ niilv(l HS il ommitment bul not accrued as expenditure. KAi5in2 lunds The costs of generaling funds consist of in%'estment managernent cosw legal fees, bank charbyes, auditors, remuneration and accountancy fees. Page 15 Continued...

ANDREW ANDERSON TRIJST NOI'ES"I'C)"I'HTr: FINANCIAL STATEMENTS- coDtiDued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- fontin￿ed Charitable #ets'vities Expendiiure on eharirable aciiviiieg in¢ludes granis made to individuals and so¢ieties. Tax14tion I'he eharity is ex¢mpt from tsx on its charitable activities. Fund Sirncillre 9nd aeeounling IlnresiriLied fiinds comprise Ihose thnds ￿'hIch ihe irusiees are free io use for any purpose in fuiili¢iaJibt uf Èlir Lliaj il(iblr vbjrLls. Iliii¥%lii¥l¢d fuJid% iiiLliiile (le%1￿￿led funds where ihe Iniqiees, •t thcir dis¢￿tion. hav¢ cr¢at¢d a fund for a 5pccific put]M)5¢. Restrieted funds can only be used for particular restricted purposes wiihin the objects of the chority. ResirScTlons arlse when %￿lfied by ihe donor or when ￿ndS are raised for particular restricted All tiinds h¢ld in th¢ pcriod by th¢ Iru31 arc Un￿striCt￿. Flxed g$$el Invesimenls liivvsimenis #re d fc)rni of basic finanelal insTrumeni and are iniiiall J, reco8nised at their transaciion valiie and subs¢qu¢iiily 11)¢asured ai Ili¥ir fair vuluc kL% al (lie hAIAIILe sheei dale using the closing quotcd markct pricc. The 3tat¢in¢nl of fiiiai)cial activiti¢S LIILluJcJ Ili¢ Iirl ￿111& ui'i%iii¥ iiii revoluoiton and di3pos&ls throughout the year. The Trust does noi acquire put options, deriv2tive$ or other complex financial instrumontsv. The main forni of financial risk faced by Ilie cliarity is I}￿1 i?r v(Ilalilily in wiiiiy markets and inv¢3tmcnl mark¢tJ du¢ to ii'id¢r cconomic condition3. th¢ attitud¢ of iiivrstDJ) tv illV¢bliii¢iil i iJk, aiid ¢hongeJ in Sentiment ¢on¢¢rnin¥ cquiti¢s ond withÉn porticular ￿t0￿ or 3ub scctors. Net gAlnsll1055es) on Ini'estmenls All gHilIN Hiiil Arv IAkvii lil Illy 8IAivmvnl i)fFinan¢i#l Aciiviiies th4. grise. Realised gains and loss¢s on inv¢slm¢nt5 arc calculatcd as the differenie betii"CCli 5alcs i)I'iKeeds aii(I Ili¥ir iipttiiing carTr'in¥ I'alue or th¢ir pur¢ha5c valuc if acquircd subsequent io thc firsi day of the fiiiaiiLial year. Unr¢ali5ed gTain5 and losses are calculaied as th¢ difference betiveeii ihe lair valu¢ at th¢ ycar ciid and their carry'in8 value. Realised and unrealised investment gains and losses are combin¢d 11) the 8IAlvmv.ni (Jf Financial Activities. Page 16 continued...

ANDREW ANDERSON TRUST NOTES TO THE FINANCIAL ST ATF.MF.NTS- continued FOR THE YEAR ENDED 31 MARCII 2024 INVESTMENT INCOME 31J.24 31.3.23 In¢om¢ trom inv¢5tm¢nt3'. Client money interest (gross) Clirreney clieni money inieresi (gross) Ilk Iinii Ir1151. inve51meni ir1151 and OEIC inreresr Othcr UK intcrc5t UK dividcnd3 UK unit trus¢ investment trust (￿d UEIL divid¢ndg Property income distributiong Income from non-UK investments- dividends IJK fjxed iiiter¢st IllLoiiie . Accrucd income 532 442 17J90 14.262 104,08J 1113,013 9,816 102,893 2.494 48) 37.196 I,n14 137,2u3 100.379 11,507 94,000 677 89 355J93 J82.87J RAISING Tr'UNDS InveB¢meni m9D9gemeni co$ Peri(NJ 0.4.22 to Y¢4r Ind¢d 31J.24 31.3.23 Costs of 8eneratin8 investment ineome 71,733 8,124 71,868 79057 78.C)00 GRANTS PAYADL Period Year Ended 31.3.24 to 31.3.23 Donations 540,750 444,000 Gran15 pa)'ablc to institutions during Ihc )'ear ivere as follows.. 31J.24 31.3.23 398250 298,$00 Page 17 conrinued...

ANDRF.W ANDF.RSnN TRIJST NOTF,S TU THE FINANCIAL STATEMED￿S- eontinu¢d FOR THE YEAR EP4DED 31 MARCH 2024 GRANTS PAYABLE- continued (Jranls payable lo Individuals during the year were as tollows: 3AJ.24 Ji.J.zJ The charity has taken advanlage of a slatutory exemption conferred by th¢ Charities %nRP %16.25 arid has not named the grAnt recipients And the amounts of such grants. SUPPORT COSTS JlJ.24 31.7.23 Aiidilors, Kemuneration Accountanc), fees Bank charges PrI)r￿.￿l{}[lal arid legal fee8 3.200 J.4UV 218 1.0 8.124 TRUSTF,F.S' RF,MUNF.RATION AND BF.NEFITS I"he trustees all give freely their time and expertise without any lorni ot remunerntion or other benetil in cash or kind12023.' £nlll. Trusleej expenses 'I'here were no trustees, expenses paid lor lh¢ yeor ended 31 March 2024 nor for the p¢riod Cnded 31 Marih ?023. NF.T (•AINSI(l.nSSF..$1 INVF..STMF.NTS 31.3.24 31.3.23 Realiled gain￿{10$8¢$) Unrealised gaIn￿{lOsSeS> 930,139 740,043} N¢t ¥dllLJllluJJrs) uii iiivrJliiJriii 666,8301 Page 18 ¢ontinu¢d.

ANDKEW ANDERSON TRUS'T NOTF..S Tn THF. FINANC.IAI. STATF.MENTS- CODlinued FOR THE YEAR ENDED 31 MARCH 2024 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2023 Additions I)i%ix)sals N¢t gain51(103s¢s) on invcstmcnts 13.110,983 3JIO,882 (3J93.723) 1,005,875 At 31 Mttrch 2U24 13 NET BOOK VALUE At 31 March 2024 13,8%0,1117 At 31 March 2023 13.126.983 Historical Cosi.. Ai 31 March 2024 11626J36 At 31 March 2023 11,763,133 Inve¥tment¥ #t fair v#lu 31.3.24 Equities Fixed interest securilies Cash held iviihin the investment portfolio 11.1125J4Y 2,743,412 9,¥(Tr4.673 3,169,667 152643 13Jsn,017 13 126,9RI Page 19 coniinued...

ANDREW ANDERSON TRUST NOTES TO THE FINANCIAL STATEMEiYfs- eontinued FnR THE YEAR ENDED 31 MARCH 2024 CKEDIIUKS: AMUUN'IS Tr'ALLING DUE WITHIN ONE YEAR 31J.24 Jl.J.2J Accrued expenses 24,471 24,044 10. MOVEMENT IN FUNDS Net movement in funds At 31.J.24 At 1.4.23 Unrestricted fund8 (Jeneral lund 13238.5116 740,661 13,979.167 TOTAL FUNDS 13.238.50 740,bbl IJY7Y 167 Nel movemeni in funds, included in ihe atrrf)ve are as follows: Res()iifLe% expended CIMiri% xii(l M£ivLmenr Ios5¢5 r¢sour¢¢s Ilnreqirlcied fun(Is 3I5J93 1620.007) 1,005I75 740,bbl TOTAL FUNDS 3.SSJ93 620,607> I,IM)S.875 74n,fifit LornpArntives for movement ITh funds Net movement in fiinds Ai 31.3.23 At 6.4.22 U nre.4trieted lunds Geiieral fund 14,U4),U6J {¥U6.5571 13.238,506 TOTAL FUND.S 14,045,063 806,557) 13,238,506 Page 20 continucd...

ANDREW ANDERSON TRUST NOTES TO TIIE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 io. MOVF.MF.NT IN FIINDS- iiJThliThllLYI Comparntivc nct movcmcnt in lunds includcd in thc abovc art as tollows: Incomin8 re5011rce5 Resources ex[￿nd¥ll Gains and Movement lusse5 in flind5 Unrestricted funds ti¢noral filnd 387 873 (5?2.600) (666,830) 1806,5571 TOTAL FUNDS 382.873 522.600) 666.830) 806.557) RF.LATED PARTY DISCLOSIIRES Th¢r¢ were no relat¢d party trnnsactions for ihc ycar cndcd 31 Ma￿￿ 2024. Page21