REGISTERED CHARfTY NUMBER.. 212170 REPORT OF ThE TRUSTEES AM FINANCIAL ATEME FOR THE YEAR L)DED 31 MARCH 2025 FOR ANDREW Ah]IERSON TRUST PJE Chartertd Accountants & Statutory Auditors 2 Oakfield Road Cltfton Bristol BS8 2AL
ANDREW ANDERSON TRusr CONTENTS OF THE FINANCIAL KfATEMEiYrs FOR THE YEAR ENDED 31 MARCH 2025 Report ofthe Truste I to 5 Statement of Trustees, Re8pollsibilitie8 Report ofthe Independent Audilors 7 to 10 Statement of FiDYdllCi] Activities li Balance Sheet 12 C&sh Flow StstemeDt 13 Noles to the Cash Flow St*temetst 14 Notes to the Financial Statements 15 to 22
AIYDREW ANDERSON TRUST REPORT OF THE TRUSTEES FOR YEAR ENDED 31 MARCH 2025 The TnTStees present their Teport witb the fitwicial statements of the chority for the year ended 31 March 2025. The Trnstees have adopted the provisions of Accounting and Rq)ortAng by Charities: Statsm¢nt of Recommended Practic¢ applicable to charities prH>aring their accounts in accordance with the Financial Reporting Standard applicable in the UK artd Republic of ]reland (FRS 102) {effective l January 2019). OBJECTIVES AND ACTIVITIES Objective8 and aims The objectives and aims of th¢ Trust or¢ to provide fmancial supy)rt to a rnllge of clwitable cllllses thmugh making donations to appropriate institUtiODS and individuals. This is done by on¢-off donations using income gen¢rat¢d frorn inv¢stm¢nts held in a fund. Looking ahead, the Trustees will continue to evaluate the TneS illTKestment strategy in light of evolving market conditions. The ongoing commitment to responsible stewardship of the TS ass¢ts remains a top priority. The Trustees, objective is to enhance the income and of the Trst over the long terni so that its Charitable giving can in turn be increased. Public benefIt The Trustees confirni that they have referred to the gutdance contsined in the Charity Commission's g¢n¢ral guidanc¢ on public benefjt when reviewiDg the Trusfs aims and objectives and in pla[Ing fijture activities and setting the grant making policy for the year. Grant makin% policy The Trust has developed its grant making policy to fulfil its objectives for public benefit by providing fmancial support to various charitabl¢ UseS. Consistent with previous years. the Trust h&s funded a dtverse array of initiatives, focusing on religious activitie4 education and Trainin& medical and health services, and overseas aid and famine relief. ",he Trustees teview the grant rn1g )lICY a[allY to ensure it 81i8ns with the charitys objectives and continues to advance public benefit. Donations are made to individuals and institutions at the discretion of the Trust¢¢s. The Trust has been able to grant donations totalling £467.000 in the year (2024- £540,750). The donations have h¢lp¢d a variety of ChUh groups. colleges. tJl( and international chariti&s, societies alld individuals. Page I
ANDREW AERSON TRUST REPORT OF THE TRUSTEES FOR TItE YEAR Ef4DED 31.MARCH 2025 FINANCIAL REvw Financial position Income from iTLvestments. including dividdS and interesL contributed significandy to the Trusvs revenue in th¢ current year. IThvestment income for the year iDcreased by 50/0 (2024 - de¢re4s¢ by 7•/r) to £372,123 (2024 £355,393). Donations made to individuals and ch8rAtable wieties decreased by 14•/• (2024 - increase by 220/0) to £467.000 (2024- £540.750). Costs associated with raising thnds include investment tnanag¢m¢nt f¢¢s. aoUnta¢Y and audit cijsts and bank charg¢s. Th¢s¢ Gosts io¢r¢as¢d by 70/• in the year to £85,168 (2024: £79,857). The total net ¢xpendi¢ure in the year to 31 March 2025 was £175,772 (2024: net income £740.661). This As as a result of the reduced gain on investments of £l1.262 (2024: gain £1,005.875). The cash position of the Trust has incre&sed by £83.513 to £237.134 (2024 - £153,621) at the year end date. Investment policy alld obje¢tive8 It is the policy of the Trust that eted funds which hav¢ not been desigllated for a specifi¢ us¢ should b¢ maintained at a level sufficient to ffleet Guent alld committed expendi1Mre. The Trustees consider that reserves at this level WAII ensure that. in the event of a significant drop in fundin& they will be able to continu¢ th¢ TnS current activities while considerdtion is given to w&ys in which additional fimds may be raised. This level of r¢serves has been malntsined througbout the year. The Trustee5' objective is to enhance the incom¢ and pital of the Trust over the long ten so that its charitttble givtng Can in turn be increased. The Trustees maintaill sufficient liquidiry to fimd the Truses chaTitable supp)rt and th¢ ¢xpenses of operation. Th¢ inv¢stmeDt policy AS periodically reviewed with Evelyn Parth¢rs LLP. the TTusVs fund manager. rh¢ Andrew Anderson Trust is ¢ommAtted to Te5ponsible investin& recognising that social, environmentaI, and ethical considerations are integral to achieving sustsinabl¢ long-tenn retums and fvlfdliDg its CEItable mission. As part of the investmellt w)Iicy the Trustee5 incorw)fdte these considerations to ensure the investments align with th¢ Trust's Valu aud contribute positively to Siety. The mad(et value of the invastn)ent fund decreased by £258,381 or 2*/0 to £13.591,636 (2024: £13.850,OID. The investment income in the year yielded a 2.8Yo (2024: 2.50/0) on the year end market value. Reseryes poliey Th¢ amount of unrestricted funds has decreased by £175,772 to £13,803,395 in the year {2024 - £13,979.167). Sufficient cash is held within the reserves to k able to meet the day4(aY support and governance wsts of the Trust. There no r¢stri¢tions to the fun Pag¢ 2
REPORT OF THE TRUSTEFS FOR THE YEAR ENDED 31 MARCH 2025 FANcL REvw Risk management The Trustees have a duty to identify 8nd review the risks to which the charity is exposed and to ¢nsu appropriate controls are in place to provide reasonabl¢ assuran¢¢ against fraud and enDr. The Trustees have assessed the major risks to which the is ¢xposryL and ar¢ satisfied that systems a in place to mitigate exposure to those risks. The Trnst operates in a low-risk environm¢n¢ its bank a(xounts being orkrated by the Trustees and th¢ itiveytments being held in nominee accounts by th¢ fund manager. Principal risks and un¢ertainlies The Andrew Anderson Trust faces several priocipai rAsks and un¢ertaillties related to its investtnent fuDd and its missioll to SUStaillably provide fitwicial support lo charitable causes. Th&se risks are r¢viewed regularly to ensure effective management and mitigation strate8i¢s are io place. Key risks include: l. Market risk The value of the Trust's investment tK)rtFolio is subject to flUCtu10nS due to changes in M¢t conditions, interest rat6s, and economic factors. This risk is Initigated by diversification of invments acros5 various ass¢t Glass¢4 regular monitoring of market conditions, and working with exrienCed fmancial advisors to adjust the investtnent stratsgy as need¢iL 2. Liquidity risk Th¢ Trust May fa¢e diificulti¢s in liquidating inveslments quickly without significant loss ill value, which could impact its ability to fid charitablc causes in a timely manner. By maintsining a portion of the portfolio in highly liquid asse selling aside cash reserves, and planning for expE¢ted cash flow needs the Trustees can ensure that they can resEMind quickly. 3. Inv¢5tm¢llt perforniallce risk There is a risk that the Trusvs investtllents may not generate sufficient income to, meet its charitable donation targets. However, by setting realistic investment perforniance goals. regularty reviewing investment perforKnallce. and adjusting the iZLvestment strategy to optimise Teturns. this risk ¢aD be managed. By proactively identifying and managing these risks. the Trnstees of the Andrew Anderson Trnst aims to safeguard the investtnent fund and ensure the continued supwrt of ¢haritabl¢ causes. The Trnstees are committed to regularly reviewin8 &nd updating risk management practices to address evolving ¢hall¢ng¢s and uncertainties. Page 3
ANDREW ANDERSON TRUST REPORT OF THE TRUSTEES FOR TEtE YEAR ENDED 31 MARCH 21125 srRUCTURE, GOVERNAI¥CE AND MAI¥AGE.MENr Th¢ Trnst is a registered charity= number 212170 wid is Constited und¢r a Ik¢l8ration of Trust dated I November 1954. TkLe Trust was estsblished in 1954 by Andrew Anderson who died in 1988. Since then it has been administ¢1 by his family. The Tne¢S who s¢rv¢d durin8 th¢ y¢ar W¢T¢: Mr A R Andetson {r¢tir¢d 29 Sept¢mb¢r 2024) Mrs M L Anderson (retired 23 Juty 2024) Mrs F C West Mrs C E Rosser Mr R J M West (appointed 23 July 2024) Mr D J Rosser (appointed 23 July 2024) It is with e2t sadness that the Trustees record the recent death of Andrew Anderson, son of the founder, who served Trustee since [956 alld Chairman since 1988. ADdreWs faithful alld dedicated service to and interest in so many Chrtstian and ¢haritable causes will be greatty missed and the present "I'rustees seek to emulate his ¢xample. None of the Trustees has any beneficial intetEst in the TrusL Governing document The charity is controlled by its governing documenL a Deed of TnisL and constitutes all unincorporated charity. Deeision making The Trllstees meet periodically to discuss matters such as donations, objectives, investment strategy and th¢ future direction of the Trnsl making sure All Trustees have the OPPOTttmity to participate. All meetings are minut¢d and do¢utThentsd. so there is no doubt aErf>ut what w&8 decided and why. CharAty GovernaDee Code Due to the unique objectiv¢s. Str[th and op¢rating model of th¢ Andrew Aoderson Trus¢ the Trustees tske the view th&t the adherence to the Charity Governance CIMle should be tailored to the needs of the Trust. This has given the Trust eater autonomy and flexibility with W to d¢¢ision-Thakiug, resource5 and tlle. All Trustees understand their legal duties and are COEnllLitted to their cause and good governance. Decisions gre made with the Trust's mission and governance needs in mind. Page 4
Reter1 ch•rltynThb 212170 Mrs F C We8t Mjs C E Rc6ser MrRJ M We#{apFWrted23 July 2024) MrD JRosstt (aFwkndll ]uty24) Audlton 2 06eldRoDd Bristol BS82AL -?D14.*MI lts i%l¢Jf by. MISF C W¢st.Trnyle¢
ANDREW ANDERSON TRusr STATEMENT OF TRUSTEES, RESPONSIBILTfIES FOR THE YEAR EIWED 31 MARCH 2025 The Trustees ar¢ r¢sponsible for prq)aring the Rwrt of the Trnstees and thc financial statements in ac¢ordance with applicable law and United Kingdom AccoulltiDg Stamdards (Unit¢d Kingdom Generally Accepted Accounting Practic¢). The law applicable to clwities in England and Wales. the Cl]arities Act 2011, Charity (A¢¢ounts and Reports) Regulations 2008 and the provisions of the tnL5t deed r¢quir¢s the Trwtees to prepare financial statemcnts for each financiaI year which give a true and fair view of the state of affairs of the charity and of the incoming resoiwees and application of resources. includin£ the income and expenditure. of th¢ charity for that period. Ill preparillg those fan¢la1 stAtemenL% the Trustees are requird to - s¢le¢t suitable accounting policies and then apply them consistently. - observe the methods and piitL¢iples in the Charity SORP. - make judgements alld estimates that are reasonable and prndenL - prepare the fmancial statements on the going concern basis unless it is inappropriate to presum¢ that the charity will continue in business. The Trnst¢¢s ar¢ r¢sponsible for keeping proper accounting recoAls which disclose with reasonable accuracy at any time the finatLcial position of the charity and to enable them to ensure that the fmancial Statements comply with the Charities Act 201 l. the Clwity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are a150 respollsible for safeguarding the assets of the charity and h¢n¢e for laking r¢asonabl¢ st¢ps for the prevention aDd detection of fraud and other irregularities. Page 6
REPORT OF THE LYDEPENDEI¥T AUDTTORS TO THE TRUSTEES OF ANDREW ANDERSON TRUST Opinion W¢ have audited the fllwicial statemellts of Andrew knderson T (th¢ 'Charl for the ye8r endcd 31 March 2025 which comprise th¢ Statement of Financial Activities. the Balance SheeL the Cash Flow Statsment and notes to the financial statements. including a sumtw of significant accounting policies. The fmancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standths (United Kingdotn Generally AccepteAI Accounting Prartice). Jn our opinion the finallcial statements: give a tNe and fair view of the st8t¢ of the charitys affaiTS as at 31 March 2025 and of its incoming resources nd &pplication of resources. for the year thell ended. have been properly prepared in accordance with Lnited Kingdom Generally Accepted A(Yountillg Practice. hav¢ be¢n prepared in accordance with the requirements of the Charities Act 2011. Basi5 for opinion We ¢onducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities uod¢r those standards are fillther described in the Auditors, responsibilities for the audit of tbe funcial statemetLts section of our rwrt We are indq)end¢nt of the charity in rdance with the ethicaj Tequirernents that are r¢l¢vant to our audit of the fu1c]al statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical re5POn5ibilities in accordance with thes¢ requirements. We believe that the audit evidence we hav¢ obtained is sufficient and appropriaÉe to provide a basis for our opinion. Conclu8iOll8 relating to going eoncern In auditing the fmancial statements, we have ¢on¢luded that the Tnte, use of the going concern basis of accounting in the pparatIOn of th¢ fmancial ststements is appropriate. Based on the work we have perfornled we IMv¢ not id¢otified any material uncertaiuties relating to events or conditions thaL individually or collectively, may cast significant doubt the charity's ability to continue as a going concern for a period of at least twelve months from when the fuLla1 Statements are authorised for issue. Our responsibilities alld the responsibilities of the Trustees with respect to goin8 ncern are d¢scribed in the relevant sections of this r¢port. Page 7
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF ANDREW ANDERSON TRusr Other illforniation Th¢ Trustees are responsible for the other itrfomtion. The other information Comprises the inforniation included in the A1U81 Report. other than the financial statements and our Report of the Independent Auditors thereo Our opinion on the fula1 stateents doe5 not cover the other illfonDation all except to the extent oth¢rwis¢ explicitly stated in our repo we do not express any form of assurance conclusion Ihereon. In connection with our audit of the finaocial stat¢m¢nt& our respN)nsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstatd. If we identify such material inconsist¢n¢ies or apparent material misstaternents. we are required to determine whether this gives rise to a mafrrial misststement in the fmancial statements themselves. If. basal OD the WO we have p¢rforn)ed. we onclude that there is a material misstatent of this ottLer informatio we are requirsj to retM)rt that fact. We hav¢ nothing to report in this regar Matters whickn we are r¢quir¢d to report by exceptio We hav¢ nothing to report rcspcct of thc following mattets wher¢ the Charities (Accounts and Reports) Regulations 2008 quireS us to Teport to you if. in our opinion: the infonnation giv¢n in the Rwrt of the Trustees is inconsistent in any matsrial respect with the fmancial statements- or sufficient accounting COrdS hav¢ not been kepL or the financial statements are not in agreement with the accouDtillg record5 and retUTns" or we have not received all the inforniation and explanatioDS we require for our audit. Responsibilities of trll8tees As explain¢d more fully in the Statement of Trnstees, Responsibilities. the Tn]stees 8re responsible for the preparation of the finan¢i&l statements which give a true and fair view, and for such internal control as the Trustees d¢t¢Tmin¢ is necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud or error. In pr¢paring the financial statements, the Trustees are resnSIble for assessing ¢he charitys ability to continue as a going concern, disclosing. as appli¢abl4 matters related to goiDg concern and using the going concern basis accounting unless the Trustees either intend to liquidate the charity or to Ce operations. or have no realigtic alternative but to do so. Page 8
REPORT OF THE INDEPEENT AUDITORS TO THE TRUSTEES OF AM)REW AllERsoN TRUST Our responsibilities for the audit of the fmancixl statements We have ixen oppoint¢d as auditors under Section 144 of the Chariti&s Act 2011 and rep)rt in accordance WAth the knt and r¢l¢vant regulations lllade or having ¢ffect th¢r¢under. Our obj¢ctiv¢s ar¢ to obtsin r¢asonabl¢ assuranc¢ ab(>ut wheth¥ Ihe fman¢ial stot¢ments as a whole are free from material mtsstat¢men¢ whether due to fraud or enDr, and to issue a Report of the Indq)endent Auditors that includes our opinion. Reasonable assurance is a higb l¢v¢l of assuran¢¢. but is not a guarantee that an audit condueted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstat¢m¢nts Can aris¢ from fraud or ¢rror and ar¢ consided m8l¢rial if. individualty or in the aw¢gate, they could reasonably be expected to influfflce the economic decisions of users tsken on the basis of these financial stat¢m¢nts. Th¢ extent lo which our PredUres ar¢ of detecting irregularitiw including fraud is detailed below: Irregularities, including fra ar¢ inslanc¢s of non-compliance with laws and regulations. We de5igD procedures in line with our responsibilitie4 outlined alx)ve. to detect irregularities. includiD8 fraud. The risk of not d¢t¢¢ting a material misstatement due to fraud is higher tlwi the risk of not detecting one resuhing from error. as fraud may involve deliberale concea]ment by. for exampl4 forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed b¢low. However, the primary r¢sponsibAlity for the pventIOn and detection of fraud rests WAth both those charged with governance of the entity and managemenL As part of our audit pl&nnin& we obtained an underslanding of the le8al and gUlatOry frameworks that are applicable to the charity and determined that the most sigllificallt are FRS 102 (United Killgdom Gen¢ra]ly Accepted Accounting Praetiee). Charities Aet 2011 and relevant tsx legislation. Charity Commission for Englaud and Wale4 money laundering regulatioDS, Gellerdl Data Protection Regulation (GDPR) requirements, anti-bribcry and comjption regulations. aad those that had fimdamental effect on thc opcrations of the charity such as fundraising T¢gulations which s¢t out the stsndards for ¢thi¢al and transparelli fimdrnising. We undeTstood how the Andrew Anderson Tntst is complying with those fralnew0S by holding enquiries with j "he Trustees and those charged with governance. We understood the potntial incentive and ability to override contro15 and identified individuals who have respon5ibilty for eD5uring that the charity complies with laws and regulations deal with reporting any issues if they arise. As part of our planning procedures. we assess¢d the risk of non-compliance with laws and regulatio5 on the clwitys ability to continue operating and the risk of material misststement to the financial statements. Based on this understanding we designed our audit procedures to identify noTrcompliance with such laws and Tegulations. Our procedures involved the following= Inspection and r¢view of the charitys goveming dwum¢n¢ Enquiry of the Trustees and those Charg with governance regarding their knowledge of aDy iDStances of non-complianc¢ with laws and regulations that could affect the financia] statements. Ellquiry of the Truste¢5 and those charged with governance whetheT they are aware of any actual or potential litigation or ¢laims or br¢ach¢s of sigoifi¢aftt laws or gUlationS applicable to the charlty. Pag¢ 9
REPORT OF TIIE INDEPE.NDENT ALrrORs TO TRUSTEES OF AM)REW ANDERSON TRUST Inspection of documentation including relevant correspKJnd¢nce and Teports receiv1 from reI210ry bodies. Reading financial statement disGIosL]res and testing to supporting d(UMents110 to 8SS¢ss ¢omplian¢¢ with applicable laws and regulations. and Review of underlying transactions data associated with legal and professional costs to identify any possible non-compliance. As part of our enquiri¢s w¢ discuss¢d with managemt whether there have been any knovm instances. IlegatioDS or suspicions of fraud, of which mallagcment confirn)ed there had been none during or after the period. We also evaluated the sugceptibility of the charitys r]naDcial statements to D)aterial misststement, including how fraud might cuT by holding enquiries with th¢ Trustees and those tharged with governance. W¢ undeI00d the tsntial incentive and ability to override controls and Understood any controls put in place to reduce th¢ opportunities for fraudulent transactions. The key risks we identified weff incentives relating to the rnisappropriation of funds. falsification of donations and investment valuation to misrepresent the charitys finaTLcial FK>sition. In r¢spons¢ to the identified risks, as part ofour audit work we= - Assessing whether the investtnents are carried at fair value. in lille with the charitys accounting policy. - RlleWIng a sample of donations made to individuals and SletteS to ensur¢ that the re¢orded amounts are receiiied and made to the intended party" - Auditing the risk of management oveffide of controls, through testillg of a sallyle of journal entries and other adjusth)ents for appropriateness" - Make enquiries with the Trustees and investment advisots in order lo identify and understand any significant trAnsactions outside of the normal course of business. and - T¢sting a sampl¢ of the underlying income re£ogllised agllst receipts within the fund portfolio. A further description of OUT resw)nsibitities for the audit of the financial statements is loca*d on the Financial Reporting Council's website at www.frc.or&uklauditorsTcswinsibilitiCS. This description fotills part of our Report of the Independent Auditots. Use of our report This report is made solely to the charitys trustee4 as a Ixmjyg in accordance with Part 4 of the Charities (Aceounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitys trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent p¢mitted by law. we do not aecept or assume responsibtlity to anyone other than the ¢harxty and the ity's trustees as a kndy. for our audit wotK for Ihis rewr¢ or for the opinions w¢ hav¢ formed. PJE Chart¢r¢d Ac¢ountallts & Ststutt)ry Auditors 2 Oakfield Road CIAfton Bristol BS8 2AL Date.. Pag¢ 10
STATEMENT OF FINANCIAL AcrIvrrIES FOR THE YEAR ENDED 31 MARCH 21125 31J.25 Unrestricted 31.3.24 Total fimds Notes INCOME AND ENDOWMENTS FROM Inv¢stsnent income 372,123 355.393 EXPENDIfuRE ON Raising funds 85,168 79,857 Charitsble activities Donations 467,1100 540.750 Trustee alld admin expenses 6989 Total 559,157 620.607 Net gains on invesknents 11262 ,005,875 IYET INcorvitl(EXPENDrruRE) (175.772) 740.661 RECONCIIJATtON OF FUNDS Total fund5 brought forward 13979,167 13,238,506 TOTAL FtA¥DS CARRIED FORWARD 13003?95 13.979.167 The notes forni part of these financial ststements Pag¢ 11
31325 31J24 rd IUJL636 13M,017 LV.134 AmouDtsf811illg oknw1tknnYCt (W75) (X471) 211.Th1 129.150 13979.IKJ 1&803J95 13379.167 io 13.979.167 13W3J95 13979.161 FCWest.Tr P4t 12
ANDREW ANDERSON TRusr CASH FLOW STATEMETr FOR THE YEAR ENDED 31 IMARCH 2025 31J25 31.3.24 Cash flows from opernting gctiviti£8 Cash gener&ted from operdtions (98208) (264,787) Net cash used in op¢rdting activities (98208) {264,787) Cash floTvs from inveyting Aetivitieg Acquisitions at cost Proceeds from sale of investmenls et investment fund activity tnvestment income r¢c¢ived ill fund Investment management costs Othcr portfolio fees Withdrawals frotll the fimd (3,079,158) 2,241932 (2,735.174) 2,953,817 (218.643) (355,393) 71,906 456 565.872 377,123 75,687 265 565W2 Net G&5h provided by investing activities 181,721 282.841 ChYdDge in eAsb alld cash equivalents in Ihe rertItig period Cash and casb equivalents ai the beginning of the reporting period .5A3 18,054 153,621 135,567 Cash and casb equivalents at the end of the reporting period 237,134 153.621 The notes forni part of financial statements Page 13
ANDREW ANDERSON TRUST NOTES TO CASH FLOW STATEMENr FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET (EXPEI¥DITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31J.25 31.3.24 Net {expend1¢u)ricom¢ for tbe rep)rliDg period (as per the Statement of FiDaDeial Adivities) Adjuslments for. Gain on investments Realised gain on InvtMellts Increas¢ in creditors (175,772) 740,661 (11262) (1.005.875) 87,922 904 427 Net cash used ill opergtions (98208) (264.787) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net ¢ash Cash at bank 153,621 83,513 237,134 153.621 83,513 237,134 Total 153ffj21 83.513 237,134 The notes forn) part of these financial ststements Page 14
ANDREW AThDERSON TRU IYOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR LWDED 31 MARCH 2025 AccoiifqTING POLICIES B&4iy ofprepAring the finaneig18tstements 2nd ¥88essment of gDiDE eoncern The fin8nci&l stst¢ments of the charity, which is a public benefit entity under FRS 102. have been prcpared in accordance with the Ch&rities SORP (FRS 102) 'Accounting alld Reporting by Charities: Statement of R0mended Practice applicable to charities preparing their 0nts ID accordance with the Financial Reporting Standard 2pplicAble in the IJK and Republic of Ireland (FRS 102) (effectiv¢ I January 20I9)'. Financial RetK>rting Standard 102 The Finallcial Reporting Standard applicable in the UK and Rcpublic of Treland, and the Charities Act 2011. The fmancial statsments have been Prepared under the histori1 wst ¢onvention. with the exception of iuvestments which are An¢luded at market value, as modified by the revaluation of certain assets. The financial statements are presented in pound4 which is the functional currency of the Tn. The Trustees consider that there are no material uncertainties aiM)ut the Trnst's ability to wntinu¢ as a going concern. Ivhen assessing the going cooc¢rn slatus. the Trustees believe that thc Trust has adcquate cash reserves, investments and a sustsinable income strean] to coveT its" op¢raling expenses and me¢t its f11claI committfLents as they become due. There is no evidence of financial di5tre5s. such as overdue payables. significant liabilities. or orditor pSSUre that could jeopardise the Tnl'S ability to continue opernting. The Trnst h&s a history of effccttve financial management and prudent fuwicial plannin& demonstrnting its ability to allocat¢ resour5 efficiently and adapt to changing circwJ)stances. Finally. ther¢ aT¢ no significant events or condition& such as a sudden loss of a major funding source or an Unforesccn crisis, that would raise doubis atM)Ut the ¢hariWs ability to contitlue its operations. The charity operates in a regulatory environment that is conducive to its continued existence. with no in)nJinent legal or regulatory threats that could disrupl its operntions. Income All income is recognised in the StstellLellt of FinaDciai Activities once the charity has entitl¢ment to the funds. it is probable tIt the income will be tweived 2nd the amount can be measured reliably. Expelldilure Liabiliti¢s are recognised as txpendibjre as soon As there is a legal or constnKtive obligation comnutting the eharity, to that expenditure. il is probable that a transfer of economic benefits will be required in settl¢ment and th¢ amount of the obligation can be measurnl reliably. Expenditure is accounted for on an accrnals basis and has been classified under h¢adings that aggr¢gat¢ all Cost related to the category. Where costs cannot be directly attributed to particular headings tJKy have been allocated to activities on a basls nsISnt with the use of resources. Donations offered subject to conditions which have not been at the year end date are noted as a commitment but not accrued as expenditure. Page 15 continued...
NOTES TO THE FINANCIAL STATEMENTS. fontillued FOR THE YEAR ENDED 31 MARCH 21)25 AccouYfiNG POLICIES- coDtinv¢d Raising funds The costs of generating funds consist of investment maDwent costs, kgal f¢¢s, bank ¢bar8es. auditors. remuneration and accountsncy fees. Charitable activities Expenditu on cbaritable activities includes donations made to individuals alld charitable societies. Taxation The charity is exempt from tsx on its charitable activities. Fund structure alld #¢counting Unrestricted funds comprise those funds which the Trustees are fre¢ to we for any PUTtK>se in furtberance of the charitable objects. Unrestricted funds include designatol funds where the Trustses, at their discretion, have crealed a fid for a specific purpose. Restricted fimds can only be used for particular Testricted purp)ses within the obj¢cts of the ClrIty. Restrictions aris¢ wh¢n specified by the donor or when fimds 8re raised for particular restricted purposes. All funds held in the period by the Trust are unrestricte Fixed asset IDvestments Investments are a forn] of basic fman¢ial instnunent and are initially tecognised at their lrnnsa¢tion value and subsequently measled at their fair value as at the balanc¢ sheet dat¢ using th¢ closing quoted rnet price. The Statement of Financial Activities includes the net gains 8tLd losses arising on revaluation and disposals throughout the year. Th¢ Trust does not acquire put options. dertyattyes or other cotnplex fmallcial instrum¢nts. The main form of fllwicial risk faced by the charity is that of volatility in quity mth¢ts and inv¢stw¢nt markets duc to wider economic conth"tiODS. the attitude of investors to investment risL and changes in sentiment ¢on¢¢rning equities and within particular sectors or sub sectors. Net gain51Oos5es) on iDvestments All gains and losses are taken to the Statement of Financial Activitie5 Ls they arise. Realised gains and losses on investments are l¢U1¢d as th¢ difference between sales proceeds and their opening carrying value or their purchase value rfacquired subwuentto the first day of the financial y¢ar. Unrealised gains and losses are calculated as the differenc¢ btheen th¢ fair value at the year end and their canying valu¢. Realised aud unrealised investsnent 8ains and lo&ses are cornbined ID the Statement of FinanGial Activities. Page 16 continu&L..
AIWREW AThDERSON TRUST IYOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 STMENT COmE 313.25 31.3.24 Income from investments: - Client money interest (gross) - Curr¢n¢y client money interest (gross) - UK unit trusL investment trust and OEIC intsrest - Other UK interest . UK dividends . UK unit trust, investment trust and OEIC dividends . Property income distributions - Income from non-UK investments- dividends - UK fixed inter&st income - Accrued income 1,459 1.048 442 17,390 14,262 104,083 103.013 9.816 102.893 2.494 (48) 21,474 2.652 89923 J26J80 &135 109.(VJ3 1&774 (4J55) 372.123 355.393 RAISING FUNDS Investment management eosts 31.325 31.3.24 Costs of generating investment income Support costs 77,191 7.977 71.733 8.124 85.168 79.857 GRANTS PAYABLE 31.325 31.3.24 DonatAons 467,000 540,750 Donations payable to eh8ritable societi&s during the year were a5 follows: 3lJ.25 31J24 42&10 398250 Donations payable to individuals during the year were as follows: 31325 31J.24 Page 17 continued...
ANDREW AThDERSON TRUST NOTES TO THE FINANCIAL STATEThNTS- conlimued OR THE YEAR E1)ED 31 MARCH 2025 GRANTS PAYABLE - contillued 41,000 142Jl)O The Charity has tsken advanlage of a stalutory exemption collfed by the Charilies SORP s16.25 and has not nam¢d th¢ donation recipients and the aD]ounts of such grants. SI]PPORT COSTS 31.325 31.3.24 Auditors, remuneration Accountancy fees Bank charges Profcssional and legal fees 3,675 4WO 264 3.500 3.400 168 1,056 8.769 8,124 TRUSYEES, RETrIUNERATIOli BEIYEFrrs The Trustees all give freely their time 8nd eXIrtise without any forni of remuneration or other benefit in cash or kind (2024= £nil)- Truste&s' expenses Trustees, expenses of £3.482 were paid for the year ended 31 March 2025 (2024: £nil). ET GAINSI(LOSAES) ON INvEsTmEs 31.3.25 31.3.24 Realised gaiJ)sl(loss¢s) Unrealised gainsl(losses) 87943 (76,661) 75.736 930.139 Net aIns/(losSe$) on investments 11362 1.005,875 Page18 ntinued...
AiYDREW ANDERSOIY TRUST NOTES TO THE FINANCIAL STATE1fS- ¢oDtiD•ed FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS Listed investments At l April 2024 Additions Disposals UnlIsed gains 13350.018 3,079,158 (326O,879} (76,660) At 31 March 2025 13J91.636 NET BOOK VALifE At 31 March 2025 13,591,636 At 31 March 2024 13.850.017 Hislorlcal Cost= At 31 March 2025 11.673.341 At 31 March 2024 11,626.336 Investments at (air valuec0mpromiI. 31J25 31.3.24 Equities Fixed interest securities Cash hcld within the investm¢nt FK)rtfolio I023j58 2,795,6S8 272,620 11,025.549 2,743.412 81,056 13591.636 13,850.017 Page 19 continued...
AIYDREW ANDERSON TRUST NOTES TO THE FINANCIAL STATEMENfs- eontinued FOR TIIE YEAR ENDED 31 MARCH 2025 CREDrfoRS: AmOUs FALLING DUE WITEIN OIYE YEAR 31J25 31.3.24 Accrued expenses 25J75 24.471 10. MOVEIVIENT IN FUNDS Net movement in funds At 31.3.25 At1.4.24 Unrestricted funds General fund 13979,167 (175,772) 13003J95 TOTAL FUNDS 13,979.167 (175,772) 13,803J95 Net movement in funds, included in the above are a5 follows: Incotning Resources expended Gains and losses Movement in fidS Unreslrieted fulldg General fund 372.123 (559.157) 11262 {175,772) TOTAL FUNDS 372,123 (559,157) 11262 (175,772) Comparatives lor movement in funds N¢t movement in funds At 31.3.24 At 1.4.23 Unrestricted fullds General fund 13238.506 740,661 13,979.167 TOTAL FUNDS 13.238.506 740,661 13,979,167 Page 20 continued...
ANDREW ANDERSON TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢oDlinDed FOR THE YEAR ENDED 31 MARCH 2025 10. MOVEMENT IN FUNDS - ¢ontinued Comparative net Movll¢nt in fimds, included in the above are as follows: Incoming rc50urce5 Resourceg expended Gains and losses Movement in fvnds Unrestricted funds General fund 35SJ93 (620,607) 1,005,875 740.661 TOTAL FUNDS 355J93 (620,607) 1,005,875 740,661 A Current year l2 months and prior year 12 months Combined p)sition is as follows.. Net mov¢ment in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 13238.506 564.889 13.803,395 TOTAL FUNDS 13.238,506 564,889 13,803,395 A current year 12 months and prior year 12 months combined movement in fimds. included in the above ar¢ as follows: Incoming Resources Gains and Movement cnded losses in funds Unmtricted fllllds General thlld 727,516 (1,179,764) 1,017,137 564,889 TOTAL FUNDS 727.516 (1.179.764) 1.017,137 564,889 Page21 continued...
ANDREW ANDERSON TRU NOTES TO THE FLYANCIAL STATEMENTS- eolltinued FOR THE YEAR ENDED 31 TrtARCH 2025 11. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 22