Cornpany number 386771
Chariiy number 2140
SCHRODER CHARITY TRUST
Financial Statements
31 March 2023

SCHRODER CHARITY TRUST
Financial statements for the year ended 31 March 2023
Contents
Page
R&fer6nc8 and ￿lministra￿'Ve Infoffl￿I
Rep￿1 of the directo
Ind8p8r¥Jent au(*torfs reFKYt
statement of ffinanc4al activibe8
Balance sheel
10
Statsrnenl of cash fic)ws
11
Notes to the finanlyal statwn8nts
12-19

## **SCHRODER CHARITY TRUST** 

## **Reference and administrative information For the year ended 31 March 2023** 

## **Directors and Trustees:** 

Mrs C B Ma nckrodt (Res gned 15 June 2023) Mrs C L F tza an Howard Ms M K F tza an Howard (Appo nted 1 September 2023) Mr T B Schroder (Cha rman) Ms L K E Schroder Mr J H F Schroder 

## **Company Secretary and Charities Director:** 

M ss L M Bowman 

## **Registered Office:** 

81 R v ngton Street London EC2A 3AY 

## **Solicitors:** 

W thers 20 O d Ba ey London EC4M 7AN 

## **Auditor:** 

UHY Kent LLP trad ng as UHY Hacker Young Thames House Roman Square S tt ngbourne ME10 4BJ 

**Bankers:** 

Schroder & Co L m ted 1 London Wa P ace London EC2Y 5AU 

CAF Bank L m ted 25 K ngs H Avenue K ngs H West Ma ng Kent ME19 4JQ 

## **Investment Manager:** 

Cazenove Cap ta 1 London Wa P ace London EC2Y 5AU 

1 



SCHRODER CHARITY TRUST
Report of the directors for the year ended 31 March 2023
The directo￿. also the Trusteos ofthe schro￿ Trust {'tre TrLsfi. present rewrt ￿ th?
￿￿j1t￿j financlal statements fcf the yearerK￿d 31 Marth 2023.
Reference and admlnlstratlve detalls
The ffinancial Statements comply wrth the chaiity'sTrusl De￿1, the chari￿s Aca 2011, the CLxnpar¥os Ad 2006
and AccDunliThJ and Re￿ting by CharTbes'. Stslemenl of Recy)rnThnd￿1 Practice appli￿ble to tharitigs
preparing their acwunts in ￿[dance wlh Ihe Fina￿￿al ReFKYtiw StarKlard in the UK and Republlc of Irokgnd
IFRS 1021 leff￿￿va 1 January 2019) IChariti8s SORP IFRS 1021).
Orfgin of Trust
Thé Bmno Sthrodar Ch8rity Trust was incr*rKwatad on 6April 1944 as an unlmit&d c(xnpany hawng an
aulhoriwj 5hgrp ￿p[bI of £1CKI. Th? namg was Chan￿j to Sthr(KJEr Charity Tw* on the 11 JLme 1953.
Thè Tnjst Is a charity rgglst8r8d in and Wales. tharity numbar 214050.
Th8 Trust is 8 ￿¥8￿ unllmiled o)mpany wJLstewl in Ihe Untbd (omp8ny numbw 386TI1.
Directors and their intsrnsts in share$
The d1￿CtorS wh) were in Offi￿ duriry the yw aThJ interests in the shwes oftke company al 1 ￿11 2022
and 31 March 2023. were as fol1v￿..
l￿ri1
2022
31 March
2023
Mts C 8 Mallin¢krodt
Mrs C L Fitzalan Hchvard
Mr T B Schr(￿er
Ms L K E Schroder
Mr J H F Schrc*Jar
On8 shaw Is aL80 held by th8 Execyjtors of Mr B L Sthrrthvtho ar8 not a dirBrAor.
P•ofA• wlth Significant control
Aftar due counsel, the th'recth have detemNn&l thatthere 15 no ￿￿￿tra￿e FeTr)n ￿ registrabte re￿ant leg
8ntity in ralatKJn to Ihe Trust.
StNcture. governa￿8 and rnanaggmgnt
onstituuon
Scl¥oder Charity Trust L% an unlim1t￿ tx)mp8ny rÈgisl8ral in tha United nUM￿r 386771. It is 8 th8Nty
regislar8d In EnglwKI 8nd Wal&s, numtw 2140Y), and Is WVeM￿ by its MwnoraThJum 8nd A￿d&S of
A880cialwJn.
AppoSntment of Ixrectovs, Inductk)n and Tralnlng
Tha Memorandum and Artic￿ ol A￿S￿lati￿ alcpw for not than tgn and T￿t less than DwectCrf5. N8w
Directors can be ap￿linted by a majority Oftl￿e Shareh￿derS present at a general meetirKJ (q￿r￿m. 21 ofthe
m&mbetE eitsr IDfill a vacancy or as an lo the exisling Board.
Tho indu¢tlon process for any n￿Y app)inted ￿reCtr￿ comprises an initial meeting with the Chairnian ts)
undèrstand powers atml resp[￿s￿)ll1tl8s. the th)DJM￿l and the stfategy ofthe Tntst. This is folow8d by
méating wth th6 Company Secretary on the Tn￿rS wnt•makiThJ wr￿8$s, and intemal polic￿ and
procedures.
Objects and stratsgy
Under the Memorandum of A$wial￿￿, th8 Dire(aots may re(*N8 donations pay or 8prty tho in(xJm8 9rKI, if
they shall think fil, the capttal ulthe TFUSI to ￿for￿ (tsritaLle puryjoses ￿ats￿Ver at such tiwn¢s and in
suth manner as the th￿CtorS shatl from time to time trunk prcw.
The Memorandum ofAsswation aulhoriw the D(rectors to wwesl vithwl ￿MitatI)n.

SCHRODER CHARITY TRUST
Report of the directors for the year ended 31 March 2023
(continued)
Publlc Benefft
The Dlrecaors havg refgrr&J lo thfr gUkI9￿ (xxtsned In the Charrty Comi5sb)n's general guidance on public
b8nofft when IheiraiThs and and in F4anniro their adwtw.
Grant maklng polFcy
Applicat￿$ are lo charities rgJister&l in the UK, who appty VH an online fom. Applt¢ations fv funding are
¢on$Id￿ed at bl-annual meetlros of the Dir&*￿S. Areas of f￿8 inctude arts, culturg 8nd heritago" 9￿U￿tion,
tr8Sning and 8mpknymenl,' ènvironment aThJ o)n5ervalion.' heath wellbeing.. arKI strengthenH)g communNies.
Annual revlew
DuriTrJ th8 year 1.03212022.. 1.1D3) apr41(StM￿sw0YQ recei¥&J. Grarrts were lo 114 thariti"8812022.. 10n.
or thèsa. Ihr88 larg8r grants wer8 mad8. on& in respcxise to the u)rfflid in Ukraine ICaFitas Ukraiml and ty￿ to
a(klrgss thg impact of en¢rgy oJsts in the UK (F￿ Bank FOLmda1￿ ar¥J Nation￿ Energy A¢tltM).
Flnancial posltFon
The cawtal of the Tntst is priThipalty shares in Sth[0d8￿ pk.
During the P9￿d the Tru51 of£571.736 {21Y22: £560.555). The drectOf5 made grants totsNing
£512,30012022.. £399,4￿).
Aft8r taknng into 0)n￿daratIOn n8t10&88s ￿ inVeSbm￿ for ￿ year of £1.693,55112022'. k)s8e5 of £1,178,261)
thg ngt de(xea5g in fvnds ftsr the year. as st¥M in the Statement of Financ￿1 Actwitips. amountsd to £1,701,260
12022.. dgcrease of £1,075,155).
The Trusvs nat assets decmsed to £12.799.584 from £14.￿,644 due to th8 unrealiwj bsse8 on tt
revalLL9tH)n of investrn8nts.
Investment policy
The currènt polky is trj mainl￿n thé Trnsys inves1￿t in ￿ sha￿S of Schroder5 wlh the balance Df the
ass8ts inv8sted al the dIs(x9b￿ Df thg directtws, apwinted Inveslment Mawer. Perfomwncg 18 reviewed at
each boarrj ￿￿ellIg and the wNestrnent polty r￿S annual review.
Investsnent performance
Al 31 Marth 2023, 85% 01 the vafue of the investsywl pKxlhlK)wgre In Sthr(KJets plc shw. Untll August
2020. the shares were held in cerbficated fcym by the T￿￿L that point Custody has been ￿0V￿led by
sd¥Od￿ & Co. Ltd as part of their service. The alkKalion of investments for the remain1￿ 15% is ddegated to
the Investment Manager who provides progress repcKb to dire¢bxs at Bo¥d mèètly. The dIr￿torS al
r8gularty revièw curMI strategy thereby ensuring the care￿1 st8wardship of S¢hr(thr Charity Trust fu￿1$.
Ckn 20 September 2022 thè 61,OtN) ￿dIn￿ nowkng Sha￿ n Sthroders plo held by Schrfyjer Charity Trust
were re-design8led as 61,W) ordinary shares full vgting rwJhts. Th? 338,832 ordinary voting shares in
Schroders plc helcl by Sc1￿XIeT Charity Twstww8 subFth to a Ixjnus issue of 3 addibonal ordinary Sh￿eS for
every 17 ordinary shares held by or(Jinary sharehokkrs. The Sd)roder pk's £1 ordinary shares were then
subjivided into new ordinary shares of 20 pence e**. At 31 Marth 2023 the charity holds 2.298,129 ordlnary
voliThJ shares in Schroders F4c with a value of £10.511.393 {2022." £12,118.862 total Val￿ of ordinBry voting and
nr￿.V0tsng shares)
The investrnent manager is tasked Vlith maintairMr¥J (Y Ir￿¥9a￿ng the wdlue of th& pytfcAio, ￿1*18 enguring there
are sufficAenl fvrKl8 lo tneg1811 in full. 31 March 2023. the rnarkel value ofthe setued funds
stCKKJ al £12,442,84812022: £14,169,018). Dur1￿ the year ￿ded 31 2023, nel lo&ses on investments
were £1,693.55l1￿22.. net k)888s of £1,178.261k

SCHRODER CHARITY TRUST
Report of the directors for the year ended 31 March 2023
(continued)
Future plans
The directors wll Tr)nlinue to re￿ve and distribub th8r11￿& funds in accordancè their policAes.
The unrestriclgd funds aro beirvJ man*j￿ to tfwt cutTWrt leveL% of dwrilable grants are malntained for
th8 fore58eable future.
Résèrvès polley
Th¢ are aw￿ of the generBI legal dLty to apply charitable tunds wthin a re88onabb limè of r￿j￿rng
than. Accordingly, t1￿Y intend to ￿￿tir¥Je to..
Donat& In 8XC8￿ of 65% oftha net t￿g￿t￿l irKaJme ar￿lThJ eac* yearfrom its unrestrictwj ftuNJs.
2. R6tain bpJan¢o of su¢h ir￿orne in orderto allow the direL*ors to restxjnd to Spgcfft appeals by making
largor (ksnalSons as the directors may ftcffi time to time CC￿sIder to be approwiate.
the levd of reserves a year.
Ravithv this polry a yw.
At the year end. total unrestricted reseNe5 were £12,799.578 (2￿tt.. £I4,￿],B3B).
Risks
The dIrectC￿ have carrigj tyjl a ofthe".mapr risks faoxng the charity. Thoy have (x)nslructed a risk register
whi¢h priortbses these risks and identifies the mibJating sy5temy and controls in rèlallon to è8d) risk. T
directors also ensure that there is a co)mp￿￿nS￿e ￿￿1t￿ng aNI rav￿ pro(*&s in rA￿ to copttjre now rt8ks
as they may anse and that systems are in to manage these.
The major risk to which the charity is exF05od 15 that of inixjrring sontfi(2nt k)%￿ In the inveslment wJrNio.
General wformance tar￿t8 a￿ set by the threctors in re￿tion to the investmerrt portfolio. a)d th& investment
perfom)ance Is kept under review by the direclors. The intt*ne deriv￿1 from divKlands frc*n shafvs in Schroders
c is ￿loCated to grant-mthng actwibes e￿ year, arnj the Jevel ofextxnditure ￿ basgd on availabb funds.
Interests
The directors maintain a 'Register of Intere¥tg 89 a meawre of go(xJ practi￿ a￿1 also tD ensu￿ that no conflcts
ocojr. This register is updated and re￿e￿￿d an annual IM￿.
Statsmgnt of diTgGtors' responsibililios
Th8 directors (who gr& aL80 th& trustaes ofthg Schrr*Jer Charity Tn￿t for the W￿0588 of charity lawl are
porK8ibl8 for pr8parrKJ Ihè Report ol ￿re￿Or$ aThJ the finarrial stalem8nts in a¢(Y)rdan￿ with applicable
law and unl￿ lfjngdom A¢¢ounting Stsndards (Uniied lfjng&)m Generdlty A￿pted Au>)unting Practi￿1.
Cofflpany law requires the directors to p￿pare flnancial statenEnts for each financlal year. Under that law the
directors have eknted to prepare the finan￿al stateTnents in acujrdancè United lfjngdom Ge￿allY
A￿pted Accountmg Practre (unit￿ lfjngdom A¢xourtting St8rKlards 8pplica)16 lawl, induding FRS 102,
the FinancAal Reporting Standard applicatle in the UK atKI ReFwbliB of Irpland. Under wmp8ny law the diredors
must not approve the finanaal statew￿lS unths tlw are satisfied tlwl th¥y give a true and tslr view r)f the 5tste
of affairs of the charttable (wpany aThJ ol the ir￿ing resourcos arKI app1kati￿ r)f ￿OurceS. including Ihg
Income expendI￿re. of the charila￿e ojnpany fDrthal w¢¥xl. In w&parfng thèsa foHnaal statanènts, th8
diredors are required to:
suitstAe a￿OUntIng FO￿e$ and then appty them C(￿S15￿￿,
observe the m8thod$ and pth)clpk oftha C*8riti&% SORP..
make judg[ll￿ts and 8￿X￿1114￿ &%tlm*es that are reasonatrAe and FKLNJenl;
state whether appltsble UK A¢LX)unbng Stsrmtsrds hav• iwn fothx¢d. suw to any material
departLrn8 d6scbsecf and explained in finanoal ststsrnent4'
prepare the financial statements the goiw twis unlèss it L% inappropri8tè to prèsume that
the charitable company wll continue in bu￿ness.

SCHRODER CHARITY TRUST
Report of the direGtors for the year ended 31 March 2023
{contlnugd)
d1￿ctorS are ￿SpOnSIble for keeplTrJ adequate ￿￿ling reLxJrds thal 8t9 9uffiu￿t tr) thr>w and 6xplain thè
chavtsble wnpanws transa&v)rts aThJ disck6e with reasollable ￿jr?￿Y at ary the finarxial p05ilipn of thp
charfty Bnd enable them to enswe thal the thanc4al statemerts compty wth ￿ Companies Act 2￿6. Thoy ore
aLqo r&s[m￿&b￿ for saleguardlThJ the assets of Ihe tharTtaL4e COfT]pany ar¥1 hen￿ for taking r9asonab￿ stèps for
tha preventlon and detection of tra￿￿ and other irrBgularib85.
In ￿ f8r as the dirè¢lors arè awarè..
is no rgknnt aLthJIl inforrnation of tharitablè coryany's auditr)r is unavdre,. and
the dir8c*us h*de taken all steps they oughl to have taken to make themseW awarg of any ralèvant
atKIit infomiatN)n a￿1 to establi8h thal the aLKlittT Bware of tt)at Inf0M￿t￿N.
Th8 dir*ors aro r8spongble for lh8 malnteronce arKI Integrlly of the WryKJrats aTrJ flnandal knf0M￿tk
Includèd on the tharilable c(xrpanls website. Legi￿￿1￿￿ in Ihe Unitsl lfjngdcm gtsvemlng the ￿eParation aTr
diss8twiin¥lior of fina￿la1 8tateThnls may diffBr from kgi4ation in ot1￿rIunth1Ons.
Small company provtsl¢ns
This rerKJrt h&8 b￿n p￿Pared in aco)rdanc6 the swial provisK￿8 fw sm81 (x)mwl&8 part 15 Df Ih
Companies 2LWJ6.
Approval
Approval by thÈ Board of Directors on 27 lyi3 and Si￿ed on its behalt ty.
TirYK)tt)y S¢hrod8r
Dirgclor

SCHRODER CHARITY TRUST
Independent Auditorfs Report to the members of Schroder Charity
Trusl
Oplnlon
We have ￿￿jIted the finanoal statements of th8 ￿￿[XIer Chaiity Trust IYh8 for the year ended
31 March 2023. which compriw the Slatemenl of FIna￿a31 Actsvitse& tho Bthxe Sheè( the Statement
of Cash Flows and notes to tha fln8ndal stat8n￿n[S indLMling significant acLX)untiro rM)IKies. The financial
rarK)rtinu fr8mawork that has b88n appli￿ in Ih&r F¥eparation is applKable law and United KingLf¢Jm
Accounltfig St8ndat(1s. induding Fina￿la1 ReF¥)rting Standard 102 'The Financial Reporting Standard
appllcatAe In the UK and Republic of Irel￿ (Unibl lfjngdom Generally AcceFloJ A(￿￿nt[￿j PractiC8}.
In our opinion Ihe finon¢>al statements..
glv6 8 tnjè and fairvi￿ of thè stat8 ofth& charitable ¢))M￿￿S affairs as al 31 March 2023 and of
Il* tharitabl6 (x)mpany's Inc0￿mr￿j res(yJrces and applcatTron of reswces. indudirwJ its Ir￿Me a￿1
¢xponditur¢ for th¢ year then ended.,
hav8 bèèn pr&p8r8d in with Urdted Generatly A(xepled A9?￿nting
Prncti¢e', and
havg been ￿K8par￿1 in a¢X(m(la￿ thè Wulr￿anIS of thB cr￿PAnIo5 Act 2￿.
Basi$ for opinion
Wè conducted our audit in ac£ordan￿ vrith IntematKJ￿I Star*Yards on Athliting (UK) IISAS (UKII and
applicable law. OLtr respon&bilities uThJer those staNJards are fvrther described in the Auditors.
responsibi1th88 for th8 8udrt of Ihg fina￿& ststements se¢kn of tyjr ￿pQrt. W? ore independent of the
harilable wmpany in mJrdan¢e wlth ￿ ethkal reqUiren￿tr that are relevant to our audit of the
finandal statemènts in the Unlted Kingdom. indthling the Fina￿￿￿ Reporting CouncAls Ethical Standard,
8nd wa hava fulfilkd our oth8r ethThl responsi￿lf0￿5 in aco)rdaTh2 with these rwjiremenls. We b￿leve
that th& audit 9viden￿ we have oblained is ￿ffi￿ent and apprcwate to ￿￿VIde a basis for our opinion.
Concluslons Tejatlng to golng concgm
In auditing the financial statements, we have (¥￿dUded that the T￿￿te&s, use ofthe goiTrJ (x)n￿rn ba￿5
of accounting in preparat•)n of the financial statements is atvopiiate.
Ba5wJ on tho wotk we have perfomwd. ￿ have not hlentified any material uncertaintm relating to events
orcorKJttK)ns that, individually Dr￿￿￿e0*vety. rnay (xst &gnifi￿1 d(KJbl (x) (tsrrtable tx)mpanls abillty
to continug as a going concern for a perK￿ of at lèast mnths from whèn thè financial stolen￿ts
are aulhorised for issu&.
Our resw)nsiExlities and the responsibfities ofthe Trwtees 7*ith resp&* to goiThJ concem 8r& d88cribed in
the relevant secfb)ns of Ihis report.
Other infomi•tion
The trustees are respK)nsiblg for ￿ olher Infom)ati￿. The Olher inf0m￿tiC￿ comprises the Enfomia￿0n
included in the RepK)rt ofthe Truste￿, otlwthan ￿ finanual statemenisand ourAuthtorfs re￿rtlher￿jn.
Our opinion on the financkal statements does fK)I covei the irfft)rmal'on ar¥J, eX￿p1 lo the extent otherw&8e
eXpl￿111Y stated in our reFQrt, we do Th)1 express any form of assurar￿e con¢Juwn thèraon.
In wnnection wlh our audit of the financlal statements. our respmsibilty is to read th8 0th8r informatiun
and, in dory SD, consider whether the other informathon is materbally incon5iStenl with the financial
ststemewts or knovAedge obtained in Ihe audr( or OtheTh*￿ apFears to rnater￿l1Y misstated. If we
IdentSfy such Material Incorn8istencies ￿ appa￿t material misstatements, we are reqLired to delemine
whether there is a material mi&staternenl in the finanoal stalementscff a rnalerial mi5Statemenl of the other
inforrnation. If, based on the WLYk w8 hav& [wr￿rr￿d. wè u)ndud8 Ihat th8ra is 8 material nwsstatamant
ofthis other inforrr.alK)n, we 8re requir8d Io rntxjrt that f&X.
We have ￿thing to repKfft in this r8ganl.

SCHRODER CHARITY TRUST
Independent Auditor's Report lo the members of Schroder Charity
Trust (continued)
Oplnlon on other matters prescllljed by th• Companlgs Act 2006
In our oplnlon, bas&1 on the work un(tartak8n in ￿ course of the audit:
the infom8¥on giv8n in the Tntstees ReFth for the finalK>￿ 40t￿nts are prepared is
¢on8151gnt with finanaal statements.
The Truste88' R￿ort has b68n prep¥ed fft aca)Fdarvx vAh ap￿[th bjal requlrements.
Matters on whlch we are requlred to rgPQrt by oxceptlon
In the I￿ht of th8 knobyledge under¥tandSng.of the tharitable cThnpany and Ils enTrlrrJ)ment (A)taii&
In the course of audrt, wo have rnt Identifi8d material m15slatew￿ts in the Trusle85' RgFKXt
We have nothing to rgpxt in respect of the matter8 In reLg1kn to wl** cr￿PanIeS 2C
requires us lo rgFKXtto yw If, In ouropinTh:
adequate a¢xx￿nting records rw)t bw kep( ￿ returns adequate fr*O￿aUdIt hav8 tK)I b8en
received frorn branthes not v15iled by us.. or
finanoal 6taternents are n(￿ in agr88ment the records and retsjrns" or
c*rtain disclowjres oltwstees. reMuneTrti￿ s[￿d[￿ by law are ￿1 made" or
wg have not recdved al the infc(mation and explanalK)ns ￿ req[ll￿ for our aLhJil', or
the TrLBtsgs were not ￿tIlled to ￿epa￿ the finan(xal statemwts ts) 8(xx)rdance the small
ryyanies rogryne ajxl tske a(fvantage of the small (x>rnpanAs' èxèmptiorLs In preparin9 the
Tru8te8s' ReKK*t and from the requIre￿nts lo prepare a Strats9￿ Ro￿rt.
R•spon81bilities of Truslegs
As explain￿ more fully in tho Stthm8nt ofTnJstees' Re8[K￿lialitIes, Tru￿908 arg restxJn4ble for Ihe
preparation ol th8 finanual stateménts and fcf Satisf￿ t￿￿1 they give a and fair vlew. and for
such inlem#l f>)ntr& as th¢ Trustees detemiine is rwessary to th& preparatk)n of ￿nar￿la1
statements Ihat arg free fv￿￿ n**rlal misstatemen( *thethertJuè to fraud or 8rror.
In prèparing the finarKyal statements, ￿ TWs1￿ arè res[N￿￿1 e for assessiNJ Ihe compatys
alifity to cYJtt￿ue as a g(MThJ concem. di8dostt￿. as applicable, mattws rela￿ to gixrNJ con￿rn and using
the gfing con￿rn basis Ofa￿oUnting unlossthe Trustees eitherinlerwj to liquNJalethe (*aritaLqg Ixxnpany
or to ceasg op￿lI0nS, or have no realistic att8m8b.vg Ixrt to Ik) so.
Auditor's responsibilty for thè autht of th• flnancial stalemer
Our objedNes are to oblain r&aS￿abl8 assura￿e about whetherthe fina￿181 statements as a w￿& Bre
free fnm material rnisstslemgnl, %th9ttwdue tofraud ￿ eThor, to issue an￿1t0￿8 r￿Ortthat iidud8s
our winh?n. Reasonable assurarKe Is a tsgh ￿e4 of assurarvx, but is not 8 guaran￿ that an audic
conducted in accl￿lan¢￿ wtth IW. IUKI wll a￿y3 dete(* a misslalemgnt Yhw tt ￿￿￿ts.
"$statem￿ts can arise from fr*KI or 8rror a￿ C4)nsKlered material if, W￿lY￿Jua1Iy or in the agyregats.
they could reasonabty be exwled to inffluw the ecujomic d￿ls￿ of users taken on tha basls of
these finan¢i81 stat8m8nls.
Irwularitles, ind￿11ng fra￿￿. ar8 Inst8n(*s crf n￿￿cor￿1an￿ ￿1h and rBgula￿n5. We deslgn
procedures in line with responsibilrfigs, (Mjuirwl above. lo deted materia misstatemgnts iwb respeej of
irregularit￿, induding fraud. The extent kn wlyth our aro watle of detecling iff8gul81iba8,
Including fraud is delailgd L*low'.
How the audit was ￿nsIde￿￿ (¥p8blg offL￿adIngl￿egUts￿ indiKlwwfr8th1.'
Our approach to I￿nts￿l￿j aThJ a8sessing the risks of matertal mi%statenKnl in res￿1 of i￿egUla11￿eB,
indudlng fr8ud arKJ ￿n-COmplian￿ wlh laws awKI regulatH￿s, was as fdlow3:
we i￿ntified the law5 and reguL9kns apFAuble charitythmugh di5(xJssions man8g8n
8nd fmm our commercial knth￿edge experiBrKe In Ihe sector.
we focused on sp8¢ific laws and r¢gulatiorts we I￿sidered Thay have a direcl mater181 aff￿
on the accounts or the weratK)ns of the d)atitak4e c(ffi￿Y, induding the Charities Act 2011 atyl th8
Companies Act 20C6:
we 8s8858ed the exlent of compliance wifh the and r8gU]at￿s K18ntff￿1 atx)ve tlyough making
enquiries of mgnagement and inspecfry
identiffied laws and regulatK)ns ￿re ¢CmnWnirat￿ ￿thin theaLMJilteam aNI th&t8am r8mawMI alwt
lo insla￿S of non-cornplk4￿ thmuglKXrt the audiL

SCHRODER CHARITY TRUST
Independent Auditor's Report to the members of Schroder Charity
Trust (Gontinued)
W8 assessed Iho susceptbllty of thg tharitthe pJrnpan¥8 ￿lun18 to mat8riat mi88tateTll8Tht, ir¥ALxlit
obtsining an understsnding of how fraLvJ ffl￿h1 OL¥)Jr, by.
m8knng ellqume8 of Tr￿￿￿J￿rY￿t a8 tovA)ere Ihey cortshjered there was S￿￿p11￿￿1￿ to fraud, their
kr￿￿dg0 of 8¢Luo1, 8U8p6(a&l and 8118pl fr￿d,. and
Cons￿ering the irtsThl wntrols in p*e trj milloate risks offraud and ￿n￿orr￿lar￿ laws and
reoulaticfj&
To ￿￿lesS the risk of fraud thrnL¥* manag8Tr.8nt bkgs 8nLI oveThid8 ofconlTt>l3, w￿".
parfomiwj analy1￿1 FK¢yxlurf Io Kkntsfy any unusual or￿8x[￿d reLatI￿sh￿￿.'
t&st8d journsl entri8s b) idantify Unusu￿ transa¢akn)s'
asgessed whethèr and 8￿Mp￿nS made n deterM￿lThJ ts acoJJnlir& 88timatss sel
Ixrt In the accounting polK¥gS w¢ indifjati￿ of PKthitid bias.,
invesbgated the rationale behind &unifi￿1 or urw8u81
In r6sPOll58 tD th8 r￿k of irrewlaribes a￿1 n￿MplaI￿e wlh la4¥5 and wulatiDn5. (*spJn
pro¢*durtts whi¢h Mclud￿, t￿1 not lim(ted ts):
agreeing financial 5tatwn?nt di5dOsu￿ to siywting d(￿menta￿,.
roa(JlTrJ mlnutos rf mogUrvJs oftW ￿ed ¥Ath govgmarTh,'
enquffing of managwnent ask> ￿Ual Fut*ilh31 Itbg8trJn d￿rnI.
Thgro arg inhewl limila1￿[¥S in wr a￿lit procedu￿$ de%riLul aiM)ve. The nxjre remved IhBI laws ard
gul8tions 8r8 from finènu81 transactirms, Iho likdy rt is th8t we b8¢oN￿ aware of nor
complianc&. Audiong standards also limit the a￿lt pr(K*durès rèqulrèd to klenufy mn-cornplia￿e wlth
Iw4.s ond regulations lo enquiry ol the tru8teg5 arKI tho inwlKY) of reguklory
olld legal tLYrespond9￿e. any.
Malértal rrHSSt8teThEnts that arlse du6 to fraud C￿ be hartsto detoa Ihc6e that arise frDm error a5
ihey may invofve ddiberate ojnowlrnenl
A further (kscxlplfon of ￿pon￿bill￿ for the of the finarnial staknents is loGatÈd oft I
FinanciBI Rewrling CouThufs ￿￿te at w•M.frc.org.uk'aLpait¢)ysrew￿II￿.I(aes. The desLYiplon fom
part of ourAuditorfs r8ForL
Use of our report
This r8POrt Is mada scAdy to Iha tharitable o)mpanl$ mém￿lS. 8$8 IKNty, in with Chaplèr 3
of Part 16 of Ihg cC￿pan￿$ kt 2006. Our audit y￿rk has Ixen urKJwtaken 50 might *ale to
charitabk company's membws tfvxe matters we ar8 19quir￿1 to state to ttHn in gn ￿(lItOrS. rpport a￿1
fLY no other wrty)Sg. To the fullgst extont ￿￿￿￿tIe¢j by law, we do rrfjt a¢x8N CY as8umg rgsponsibility to
anyone othèr Ihan the Charita￿ ¢xxnpany and Ib members. as a bcty. for ￿raUdIt worf(, for this rewrt.
orfor the oFMv￿nS we hwe fDrrned.
All¥n ￿￿kie 8Se FCA {S￿￿)r stattrttyy 8￿J11¢Y)
Forand on LWof
UHY Kent LLP
Chartered Aco)untsnts and Ststutsy AIMliiGY8
Tharnes House. Roman Squwe
S￿in￿b0urnO. KenL ME10 4BJ
Dat&. 24 October 2023

SCHRODER CHARITY TRUST
statement of financial activities (incorporating an income and expenditure
account) for the year ended 31 March 2023
2023
2022
Total
lunds
Not&s R•strlet8d Unr•strfet•d
funds
Incomo from:
Investments
571.n6
511,738
58A),S55
Tot
571,736
571,736
s￿,555
Xpgndlthro on:
Raising funds- Inv&stment manogorfees
Charttable
2,319
577,126
2,319
577.126
Totsl
579.445
457,449
Net lexpendlturgvlncome befove
losses on Investments
(7,709)
17.709)
103.106
Net losses on in¥e5tments
I1,￿3.551> 11.693.551) 11,178,261)
axpendlturo mov8m•nt
In funds
(l.701.￿oI 11,701,260} 11,075,155)
Fund balances brought for•
14.500,838 14500.838
15,575,993
Fund balance6 carrfed forward
12.799,578
12.799.518
14,500,838
l of th& above rssulL8 are derfvéd frrxn (thlnuing th889. Thèrè wwe no other rectsjnts￿ wns or losses other
ihan those ststed aix)ve arnl tsrefDre ttrv)se staled Bbove reprgsent lot4 wmpr8h8n8ive IncThn8.
Ihe notes on pagg 12 to 19 f￿rn part off1￿￿ ststernents.

SCHRODER CHARITY TRUST
Balanca sheet as at 31 March 2023
Not08
2023
2022
Fixed assets
Investsn¢nts
12.44W8
14.169,018
Current assets
Debtors
CaBh at bank aNI In haNJ
10
354.196
38.eQ4
349,098
9.137
392WO
136,0641
368.236
{26,4091
Credltors: Bmounts due within 1
Ngt currnnt ass8ts
358,736
331,826
Ngt a￿￿ts
12.799.fj84
14,500,844
Financèd by:
Shar• ¢apital
12
Funds
un￿31￿Cled funds
11rn.578
14,YJO.8S8
Total fund5
12,T99.584
14,fLIO,844
These fil￿n¢t81 statements h8ve bw) li aQxjrda￿ V￿1h the Spcfial tKovkstyJ$ fw small companies undor
part 15 of the Companles Act 2W6.
Appro￿1 by ￿ threckys 8nd auVKJrSsed rmll S￿¢ aThJ their behalf by:
Timothy sthr￿￿er
Dlrector
RegBtwed ts)mpany nurr*)8r 386771
Thè on pgge 12 to 19 f(*m port01 these finarKi?1 statemen1&
10

SCHRODER CHARITY TRUST
Statement of cash flows for the year ended 31 March 2023
2023
2022
Cash )lows Imm op•ratln9 4¢ti¥ltlos:
Net cash used In operatlng a¢tivltl•s
lal
(5T4.88BI
1494,463)
Cash flow8 from Investlng acti*41118s:
Dlvldands, interest and rents from ￿Yest￿
P[V￿ed8 frorn sab of investments
Purchase of investments
Ch8ng& in investsnent La
531314
11917
(13225)
71.349
s￿,965
16,897
118,5271
174,4901
cash provl(*d by Invtstlng activit
604,355
447,845
Chang• In eaih and cash eq￿valents In the Tr￿￿ng period
29,467
146.6181
Cash and cash equh8bnts atthe b&inning ofth¢ ￿{￿￿￿[va WKXI
{b)
9.137
55,755
Cash and cash 4yivalents at the end of the yiod
(bl
38,604
9,137
(#) Recondllatlon of nqt Income to net cash flows from opernting actlvllles
t expenditure for tha raporting perlod
{1.701.2￿) 11,075,155}
Adjustments for.
Losses on kw&strnBnts
Dividends and Intérèst invgstmenis
Increase in dabtors
Increasel(dg(Toa8el in u8ditors
1,693,551
1571.7361
15.0981
9,655
1,178.261
1560,5551
124.3921
112,6221
Net cash used in operatlng athities
1574.888)
1494,4631
bl Analysls of cash and cash equlTrnlents
Cash in harnf
9,137
Total cash ar￿ cash equlvalents
38.604
9,137
Icl Analysis of thanges In net debt
Nonthcash
2022 Cash flows movem•nl
31 March
2023
Cash and wh ¢qiiwalewts
9.137
29,467
38,604
The notas on page 12 to 19 fonn part ofthe8e ￿4￿la1 State￿ts.
11

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
General Infornmtion
The SChr￿jer Chartty Trust Fs a charitable (XYM￿nY r￿￿Sle￿I in EThJland Wdes Icoryjany numb8r
386771 and charity number 2140501, ryN8mad by IL5 MertKxandum ofAssocith"on. The wistered Offi￿ 1$
81 ￿vIngknn Street, London. EC2A 3AY. Thg annuJ slatements are prepared In sterfing, being Ihe
JndK)na currency ofthe entity, and have been Kxjnckd to the nearest p￿nd.
Principal aecounong policies
Basis of accountlng and wlng wi¢wn
The financxal staternenls have prepared undw the historical ¢x)st conventi￿, as modified by
the revaluation of fixed 8SSÈt investments, and in ￿￿ordanCe with the Statement of Recommended
Practica.. knounting and ReF*JtiThJ by Chaiitses prewing tr￿1r acC￿ntS in a￿rdance with the
Fin3n(aa Reporting Stsndafd applicable in the UK and Republ￿ Df Ire[a￿l IFRS 1021 leffedive I
January 20191 (Chartbes SORP IFRS 10211, the Financial Reporling Stsnd8rd apo￿19 in the
Unltad Klngdom arKI R￿￿4￿Of Ireland IFRS 102), the Chariti88 Act 2011 and tho C(xnpaThes Act
The T￿￿t ¢JJn8tits a pubk be￿fft enbty as ￿rMed by FRS 102.
Th8 prep8fdllon of lh8 fina￿￿81 statements requlres the directors to make esl¥T]atgs and
a&sumptions that affèct reported amounts of revenu85, eyFen5es, assets and liabilities. and the
disdo3urg of ￿￿tIng¢nI lia￿lI￿eS at the date of the fir)ancial staterrents. If in th8 f￿r6 such
eslimates and a&$Umpti￿$. %thich are based the dirthrs, bèst judgémènt at th6 dat8 Df th&
ffinanrial statements, dDvwle from the achwl (ar￿￿￿tan¢￿￿, th8 origin81851imalo5 and
8&8umptions will ￿ m(Kllfi8d as approprRte in the yew in whi(* Ihe arcumstanc85 chang8.
rgcltKs' 1X￿ld￿that th￿e are key s￿￿rceS ofestiry￿t￿n uncertainty 8nd that there are
no material uncertainties over the Trusfs a￿lIty lo continue ay 8 gL)ing concom ft)r thg fore$8eabl
futum, ￿Ing 8 peiicxl ol at least 12 nK)nths from the date ol signing fhe finan(aal statoments.
bl
Incame
Incon￿ is on a r￿¥￿e t0SÈS.
InU)n￿ rac8fv6d tyway of donaions and gft awj is indUd￿j in fvll in the Slat8menl of Financial
Acbwties vth8n ra￿Nable. I￿oMe recei￿dbla frcffi Grfl fvid daims is reLxjgn$￿ Nvhen the daim
had submittgtj.
Invesbnent kKome Is cxethted gross to the Statement cl FiiarKaal ActivTb"6s on Ihe datg il becomes
P8y8bla.
Expenditure
Expenditure is r8cyJgnised in th& in Ihay ar& incurr&l. Expermlilure indudas
attributab￿ VAr￿1th C￿nft￿ ￿ r8c¥)v8￿I.
Expendibjre on raising fuThls indudes f*s ￿11th are calcuL2ted quarterly by
CazerKrye Capital (ts investl￿nI TTrgrwI 1Th￿￿jed in ¥iv&8tmnt m￿gar fees rm a
payable bws.
Expenditur8 on ¢haiitsble inchjjes tharit*4e g￿t£ administralon ¢>)sts and g)vernance
Charrtable grants arg Charg￿ lo the Statement of Financial Acbv(lies when approved by the
directors ar￿ ￿dit￿Th on the T￿{￿ent have been Olher expeThJiture is PrO￿ed
on an aLxruals L*si8.
12

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
Prfnclpal accountlng pollcles contIn￿d
Expendlturo (contlnwd)
Administrat￿n ¢JJsts (￿sIst of day-ts>day a(kninlstr8tton of ￿ Trust's affairs as carried out by
staff employed by The Fthndalknn. Thè ujsis 8re r8tharged to Ihe Twst based Ihe
levels of acti*ity ofthè ch8rity.
GovemaThx cos18 charywj in th&s8 51aletngnts i￿JUd9 audit[￿$ rgmU￿ratIon and other
compliance ￿￿tS impwd by Ihe reqiirements ￿￿8rrtse$ I￿ls[all0n.
dl
Gainsnosses cffl invostm¢rt 8ss•ts
All gains ar* b8S8s are tak8n to Ststoment of Financial Athties as they aris&. Unrealised
gains and losses on investrrenl assets represent the d11feren￿ betsveen their fair value at the Bnd
of the yew and their fwr value at thè b8ginning of the year, or transaction value if acquired during
the yè8r. Re4i8ed gains k)S￿ disky)sal of inveStm￿t assets represent the difIe￿r￿e
bgtW88n Ihg 5810 proc99ds and far ￿ue at ts bwMin9 of the year. or Iransactton value If
acquired during ts year..
Taxatlon
The Trust is a register*l ¢off¥)8nY￿d chaity th*8ftX8 is N)t liab￿ frx inenme lax or
C4Jrporation tsx on Incorr￿ d9rvgd fn¥n its (*arilaNo as it falb withln the various
8xemplions availa￿8 to registeted ¢*arlbes.
Flnancial instrumonts
The Tmst onty has finarK(al assets aNI firtan(aal li8blitie$ of 8 knnd t￿91 qualify 8$ thanclal
instnjmerrts. Basic finarKgal instwrnents are r8wJniwJ al transaction valuB ￿K1
subwuenly nEasured at their Setuem￿I value.
gl
Inves*Jnen￿ are a f￿rn of baw finarKxd v)slJumw)I afy inthlly 81 thgir Iransaoti(m
value and •Ugnlty.measur￿I 8t th￿r f￿"[￿￿1￿ as al the balan¢x sheet date yskng Ihoir
dosing quoted market piio). Roaliwl arnl uweali5ed gains ¥nd losse$ are sFM)wn in Ihè statement
offinanoo14ctivities iogether as r*t gairts revaluation and diskTh￿S of inve8tsllenl assets.
Invesknents hdd in the cash IKruidty kndsare das￿￿1 within current assets.
Thè Trust does not ar4uire put derivatives C￿ other financHI instwments.
Tho mairk ft)mi offinanaal risk bythe Tnjst is that ofvolatility in the inve5trn8nl mathets due
to Wtder economic cr￿ditIOns, the aitrbjde of irNestors to investment risk and L*anges in senlirnent
¢oncemkng ￿llIbaS and wthin patti￿lar s*Jrs 0fsub￿eCtOrs.
h}
Debtors
Debtors are recyyJnised inrbaty al farvakne. Subwuent lo initial rewgrwl(￿ Ihgy measurgd at
I￿￿tiSed c05t Using Ihe effwth Itte￿st ffleth(xl, impairment h)5se8.
Cash at bank and In hand
Cash and r2sh equNalenls ￿L$t ofcash on hand and b*rwx8 with banks, aNI Investm￿ts in
mon8y market instnmients vthith are readity O￿Verbble. being those with Thigind maturibes of
thrèè rrA)nths or less.
Crethtors
Creditors are recoJnised initially at fair vJu&. Subsewenl to inilial re(X)￿lb0n th￿ 8r8 mèa8ured
at aTr￿tiS￿ wng the effe(kne intere8t.r*thcMJ.
kl
R£strlctod fund5
Any reslrKled funds be used fur th8 PUryK)se5 laid do￿ by the dorK)r. Exp8nditur8
wh￿h meets their c￿tella is tharged lo th8 fund togethw with a alkxation of managernent aNI
5UPPQ¥t (xbsts.
13

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
Prin¢lpal accounting Wi¢i¢ts ¢ontinu•d
Unrestiicted fvnds
Unrestrided furwjs are donali0r￿ imstment iw)m& and 0￿￿rInc￿￿nln9 r8sourc8s re￿￿vable or
génwated for tha oEiè(ts oflhè charity. Thè g6n8ro1 fijrnl th&rth￿ rxJmpris6s those monias vthich
may be used t¢ywards m$8b"ng th&itaile obFcbves of the TrL￿1 at the discretion oftho
diroctors.
Investsnent In¢om•
2023
2022
Dimdends
Bank interest
560.548
2.350
S71.736
5eK),555
hjl incorro r￿￿Ved in both 2023 aTrJ 2022 were in respect of unr8stri¢ted fvnd&
Ralsln9 funds- ¢osts
2023
2022
IrNestm8nt ￿￿najeMent costs
1319
2,459
2.319
2,459
hjl L¥Jsts in both 2023 and 2022 were ￿ rospwA of unr￿7&￿1 funds.
Charltable actlvlUos
2023
2022
Charitable grants {ThJte 6)
Adminbstration
GOV￿nCe
512.300
S7.$31
7.295
399,400
49,452
6,138
577.126
454,990
AJI costs IWVAJTrwJ in ly)th 2023 2022 We￿ lli re4*¢1 crf unreslrthd funds.
14

SCHRODER CHARrrY TRUST
Notes to the financial statements for the year ended 31 March 2023
c￿ltable grants
2023
Alado to instltuttons:
ADHD FouncJatiDn
Afasi¢
Afrfcan Chlldren's Fund Ltd
Age UK Bath and NrAth East SOme￿et Limited
AJwe Activiltes Ltd
nwiL* Dislricl Playhouse Trust
Amazon Charitable Tr￿t
Ambulance Staff Chaiity, The
Ampney Cruus Par0th1￿ Church COU￿
•Wollo Mu%c Projects
AJt Against Knives
AJtt*Jx London
Jts 4 Dementia
Autist￿ Miryjs
Azalea
Bail for Immlgratlon Dthnees
81￿kmOre Vale Charity. The
Blind in Business Trust
Irxjmin. Arts Limli ed
Boccka EThJland Limited
Brass Bands EngLand
Breaking Barriers
British Youth Opera
Buglif8- The Imi8rt8brata Colw￿l1￿ Tn￿1
C8ritBs Ukjxine
Changlry F￿S
Chelsea Old Church P.C.C.
Chitheslar Dh)cesan ￿sc￿lati￿ kn Famity Sutwt Wuk
Children's LIt￿aGY Charity. The
Chisvitk Hc*Jse and Gard￿$ Tr4Jsl
Chrorna Clwrch
City Gate C(xmmunity Projects IFareShare su￿￿ & Surrey)
Comryts)ty Voluntary ACtf￿ LÈdixJry 8 DistrK*
Crown s￿1 Mamr Boys Club, Hoxton
Cruse 8ereavg￿nt Carg &x>Uand
Deep IAfri¢al
tkjmeslic Abuse Volunt88f Supwrt SeJvi(
tkK)rstep Llbrary N8twork
Oown*d8 SottierYwL The
Earth Trust
East Herts cr(Eens AIfvKe SeN
Eastside Cornmunity Twsl
ECPAT UK
Fmeoe 3RS
Endom8triosi% UK
Euan's G￿de
Fattns for City Children knmiled
Final Stsaw Foundation
Food Chain (UK) Ltd,
Fuel Bank FOUr￿lat￿n
Future
Gwing World
Goldsmith& UnIve￿ty of London
Great Westem Ar Arnbulan￿ Charity
Habitat fy Humanty Great Brllain
Hair M￿n Yiwng Peo￿e'S Theatre Unw
Hands Ckn LL￿￿on
Hom&Start Bristol
Hourglas8 (Safer Agelng)
Inter Care Ltd
C•rriÈd forward
3,CQO
4,￿0
5,(XJO
4,000
5,000
5,000
1,000
5,000
s,000
3,000
4,000
4,000
5,000
2,500
5,000
5,000
5,000
25,000
1.000
4,000
2,500
5,000
3.000
5,000
4.000
4.000
4.000
4.000
4.000
5,000
5,000
1,3
5,OC
3,0
25,0(K)
3,0
5,OtK)
5,orx)
5,0(YJ
5,000
5,OLK)
5,OCX)
4,OLK)
4,OfMJ
5,OfXJ
290,800
15

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
Charitable grants Icontlnued)
2023
Brought foThvard
ISlar￿ House Cornmunity Centre
Links Inlemab'onal Trust
Listening Books
L&gtÈning Pl8eÉ, Th8
Little Gr8ell Pig
Little Quse Headwatefs Proiect
Lullaby Tnrst, The
Manor Community Tr8n$port
M8ry E40s8 Twsl, Tho
M9ylreg Roswlo Centro, The
dalr UK
Mlgratsful
oira AnderKJn FrAJrKlatx)n.
Music of Lile Fcwjndatic
Nalional Eneryy A(IK)n
New Brewery Arts Ltd
One25 Lknh8d
Cxjr Tim
Perkisound CIO
PIM1￿ L*era
Play Action Intemalk)n
Posithve East
Prison Radio Asswal
Priso￿T￿ Abroad
PriSo￿r$. AdvlcB Service
PrtsJrèS￿V8 Fwmiffj Trust Ltd
PumpAid
Puttchdrunk Enrfchment Linjb
Read for Good
Refugee Educats'i￿ UK
Richmond Goc¥d Nebjh￿￿rS
ppl8 Suidde Prev6ntion Chaiity
Rising Sun Donwtic VK)l¢rKe & Abuse Service
Royal Chapel of Al Sainls
SAFE Foundation
Snowdrop Project. Th&
Solicitors Pro Bono Group
Sophie Hgyes FCwr￿atl9n
Spread a Smile
Sl AndreW5 Church (Cury Rwel)
Sl Andrews Club
st Jude's unit￿ Chur(*, Erobfiekl Gr
Sunbeams Lonth)n Ltd
Talking Money
Toucan E￿￿0Y1￿enl
Tourette Syndrome (UK) Associabon
Trust Music
UnsÈÈn ILJK)
W8tfrJrd N8w Hope Twst
W8 kn Grow
Wintgrcomfort The H(KnBI&
Youtu R(K)Is
Zambia Orphans UK
290.8tyJ
5,000
5,000
5.000
5,000
5.000
2,00
5.QOO
4,000
5,0(X
10,CN]O
4,￿0
4,CQO
2,CQO
5,CQO
4,CQO
3.CQO
5.CKJO
4,Crf)O
5,(KlO
4,000
3,000
5,000
2,000
3,000
4,DLX)
1,OC¥)
3,000
3,000
4,000
5,OQKI
2023 total
512,300
2022 total
399,400
16

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
Net Inve8tment galn¥lllO￿3
2023
2022
Reali88d g8in8
UnrealiS￿j lo&sos
1.518
2,563
11,695.0691 {1,1PA),8241
{1,693.5511 (1,178.2611
Nat movament In funds
Nel movemanl in knds ks Stated after chargitvJ:
2023
2022
Dire¢tor8' rgmunèraUon
Auéilorfs remunerat
as 8udi1or
. fortax advtca
4880
5,400
The dir8(lors (¥￿5ider ￿[￿58fve$ 8rKI ￿ o)mpany ￿retary as coMw￿l￿j ￿ kgy management personnel
of the TrusL Thero arg 5 w￿￿0yeeS Ith& directors). The dire(aor5 oJmpany Se￿etary ra￿l¥ed no
remunerat￿￿ or beneffits in knnd12022: £Nill aThJ received Th) re1mbu￿eMent of 8xper￿S(2022.. £Nil).
Thero were no employegs who r￿Unera110n excegJirvJ £60,0(Y).
Investments
2023
2022
Market value broughtf¢)ThYd
Additi￿S al wst
tlsposals prt)(*gdg
N81 bsses on disposals revaluations
14094,525
15,234,566
52.647
55,116
{13.91n
116,8971
11.693.551) 11,178,261)
12.439.704
3,144
14,094,525
74,493
PortfolK> cash by imstment manager
Market value IAThi8d fr)￿ard
12A42.848
14,169,018
Historic rA)st carried foThYdrd
13,156.848 13,107,
Inv¢stménts comts the followlng:
2023
2022
Equities Ilisledl
Private eqLity
12.397.944
41.759
14,097,691
46,834
12A39.703 14,094,525
Debtor¥
2023
2022
Divid8nds rvKNable
354196
349,098
354,196
349,098
17

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
11.
Cre(Htors: am¢xJnts falling wSthh rm year
2Q23
2022
Ac(¥Lfdls
26,409
36.064
26,409
12.
Share capltal
Allotted,
callèd up
and fully
paid
Authorfsed
Ordinary shwes of £1 each
100
Thg ordinary shareholders have no rtglts over the furKts of the TrusL
13.
Analysls of not •8S¢ts botwèèn furnls-2023
s￿r# R¢¥trict•d Unr•strieted
fun(ts
funds
Total
funds
Iwweslrnellts
Nat currant 8$88ts
12,442.848
,730
12,442.848
356,736
Net gS8ets at the end of the year
12,793,578
12,799.584
All funds held al 31 Marth 2023 wets unrgslrthl furKIs and all transacb0￿ in thts year 8nol8d 31 March 2023
were within unrestr￿1￿1 funds.
Analysts of nel assets be￿￿en knds- 2022
Share
captial
Reslrica&J Unrestrithj
funds
funds
Total
fvnds
Invèstments
Nèt eurrènt awts
14.169,018
331,820
14,169,018
331,826
Net assets at ts erbj ofthe
14,500.838
14,5(X),844
18

SCHRODER CHARITY TRUST
Notes to the financial statements for the year ended 31 March 2023
14.
Rdatgd party tran8actlons
Ms L K E Schroder and C L Frfzakn Huward we nM-exeoJlive rfjrectc￿S of Schr¢￿er$ pl¢, the ulb'rnale
Par￿¢ (*)mpany of Cazenove Caprtal, whK* a5 Investry￿1 fortha Charfty, and Sthroder & Co
Ltd, %￿lch as bankers for Ihe charity.
On 20 S•ptsml)er 2022 tho 61,(KK) or(fjn8ry WFVtAing shaw In Schrodèrs pk hdd by Schrod8Y Charlty
Trust warè r&41ès￿n8t￿d as 61.000 ordinary shèrès thith fvll voting rights. The 338.832 ordinary voting
$haros in s￿hr￿r5 hdd by SthrrKlgr (￿arity Trust Wgrp Subl￿t k) 4 Lvnus issue of 3 add￿onal
ordinary shares for every 17 ordiTW shares hekJ by ￿Jinary shareholders. Thg Schroder plc's £1 ordinary
share5 There then subdivid￿1 into new shares of ￿ pen￿ each. At 31 M8rth 2023 the ch￿ty holds
2,298.129 ordinary vot¥)g shares in s￿r￿lers pk *ith a of £10,571.39312022'. £12,118,862 total
valuè of ordin*y votw)g arKI non-vth'ng sh8resl ropr688nting 85.0%12022: 85.5%) of Iho total valug of the
Schrodfjr Ch8rity Twsl i1west￿nt wrtfolK).
ofthe dlr8Ctm. C B M8llinekn)dt Ntrs C L Filolan HowaA1 and L K E Sthrod8r, ar& ￿$0
trust&as of Th8 Sthrodw Foundat*)n. DurirKJ thè ￿arTh* Sch1￿@r Fotsndatim made B charg& to tha
charity 01 £47,211 12022.. £36,204) n resp*ct ￿ ackninistration aThJ accountsncy seryictss provKlgd durir¥J
the year and £13 regardirrfJ G￿lpany￿S cxjsts. An arrK)unt of£28,2￿) {2022.. £18,923) 15 due to The
Schroder Foundati(¥b at Ihe year e￿1.
19