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 Tn￿eS illTKestment strategy in light of evolving market
conditions. The ongoing commitment to responsible stewardship of the T￿￿￿S ass¢ts remains a top priority. The
Trustees, objective is to enhance the income and of the Tr￿st 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 rn￿1￿g ￿)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 ChU￿h groups. colleges. tJl( and international chariti&s, societies alld individuals.
Page I

ANDREW A￿ERSON TRUST
REPORT OF THE TRUSTEES
FOR TItE YEAR Ef4DED 31.MARCH 2025
FINANCIAL REv￿w
Financial position
Income from iTLvestments. including divid￿dS 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. a￿oUnta￿¢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 Gu￿ent 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¢ Tn￿￿S
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 CE￿Itable 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 S￿iety.
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
F￿ANc￿L REv￿w
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 flUCtu￿10nS due to changes in M￿¢t conditions,
interest rat6s, and economic factors.
This risk is Initigated by diversification of inv￿ments acros5 various ass¢t Glass¢4 regular monitoring of market
conditions, and working with ex￿rienCed 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 fi￿d 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 Consti￿ted 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 Tn￿e¢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 tll￿e. 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

Re￿￿ter￿1 ch•rltynThb
212170
Mrs F C We8t
Mjs C E Rc6ser
MrRJ M We#{apFWrted23 July 2024)
MrD JRosstt (aFwkn*dll ]uty￿24)
Audlton
2 0*6eldRoDd
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 f￿an¢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 fu￿ncial 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 fu￿1c]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 Tn￿te￿, use of the going concern basis of
accounting in the p￿paratIOn 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 fuL￿la1 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 A1￿U81 Report. other than the financial
statements and our Report of the Independent Auditors thereo
Our opinion on the fu￿￿la1 state￿ents 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 misstat￿ent 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 res￿nSIble 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 INDEPE￿￿ENT AUDITORS TO THE TRUSTEES OF
AM)REW All￿ERsoN 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¢ consid￿ed 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 Pr￿edUres 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 p￿ventIOn 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 fralnew0￿S 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 regulatio￿5 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 AL￿rrORs TO TRUSTEES OF
AM)REW ANDERSON TRUST
Inspection of documentation including relevant correspKJnd¢nce and Teports receiv￿1 from re￿I210ry 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 managem￿t 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¢ unde￿I00d 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.
- R￿lleWIng a sample of donations made to individuals and S￿letteS 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 ag￿llst 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
r￿d
IUJL636 13M,017
LV.134
AmouDtsf811illg oknw1tknn￿YC￿t
(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 re￿rtItig 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￿)ri￿com¢ for tbe rep)rliDg period (as per the
Statement of FiDaDeial Adivities)
Adjuslments for.
Gain on investments
Realised gain on Inv￿tMellts
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 R￿0￿mended Practice applicable to charities preparing their ￿0￿nts 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 histori￿1 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
f11￿claI committfLents as they become due.
There is no evidence of financial di5tre5s. such as overdue payables. significant liabilities. or orditor
p￿SSUre that could jeopardise the Tn￿l'S ability to continue opernting. The Trnst h&s a history of
effccttve financial management and prudent fuwicial plannin& demonstrnting its ability to allocat¢
resour￿5 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 tI￿t 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 ￿nsIS￿nt 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 fi￿d for a specific purpose.
Restricted fimds can only be used for particular Testricted purp)ses within the obj¢cts of the Cl￿rIty.
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 measl￿ed at their fair value as at the balanc¢ sheet dat¢ using th¢ closing quoted rn￿et
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&1￿0
398250
Donations payable to individuals during the year were as follows:
31325
31J.24
Page 17
continued...

ANDREW AThDERSON TRUST
NOTES TO THE FINANCIAL STATETh￿NTS- conlimued
OR THE YEAR E￿1)ED 31 MARCH 2025
GRANTS PAYABLE - contillued
41,000
142Jl)O
The Charity has tsken advanlage of a stalutory exemption collfe￿d 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 eXI￿rtise 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 INvEsTmE￿￿s
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 STATE1￿￿￿fS- ¢oDtiD•ed
FOR THE YEAR ENDED 31 MARCH 2025
FIXED ASSET INVESTMENTS
Listed
investments
At l April 2024
Additions
Disposals
Un￿lIsed 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 valuec0mpromi￿I.
31J25
31.3.24
Equities
Fixed interest securities
Cash hcld within the investm¢nt FK)rtfolio
I0￿23j58
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: AmOU￿s 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 fi￿dS
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 Mov￿ll¢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
c￿nded
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