Chartynbmber 225768 SEXi'OUThTrJST TrUsfEEY REPORT AND F..l¥lNCWL sfATEM£NTS FOR THEYEAR ¢NDED 31 MARCH 2024
Esv0[l . TRU> Indexiothekcountsfortheyearendec 31 Marth 2024 Trustee< Annual Repgrt Independenr AuGltorfs Rwrt s[eMer.1 ofFiriantthAciiwries litthding 1p.coY ano txpendiwrekcounil Balance Sheei Statement of C8sn fla% 12-17 Note5 to ihe AccoLnt5
ESSEXYOUTH TRUST
REPO.. OCTHE TR£1 E%S'
FOR ThE YEth ÉNDED31 MAKH 2024
The irusiees presep.I their annb.al repork and I,.nan0215i31emenT50i'ne cnor.ty tof ihe yevr 2p.ded 37 March 202a T,e
linèncial staiemenis nave bÈÈn prepareo In accool81=e iy.-t,-r.e rIalEY5 SctriernE.
"e Crhofijie5 201-. the CnÈrity
IAccounts Reports) Re8ulailQnS 28. Ihe Stèiemen: of RecomnE.-.W pra(e IrR5 1021 ano tPe accouqiifjg pGlicies seiou,,
In note I tc thè è:QOUints
REFERENCEPND ADMlk4isfpAnvE DJALS
E55ex Youth Trust isan unincorwraieo ¢ssacialTrIharity ritsTr,ger 2257c8
The prin01 office is now siruaieol ai Tne Old Rectory, Gesi1nhO. HaLs:ea& E5sÈx C09 388.
The IrusiÈ&s are MichaÈllohr, tyler. T,e Revo Canon D'Jncc.-.
'Èen {Te5 yre- Apr,120231.'O1illièTr. avicl Rooson, Mr5
Claire COell, Lady DerilSOq-Sr4,Ih {res.'gryeJ Druary 2024) i..l.-e Fcsh. kl.ICQSel Bieuel.IoDathan lar.acnern IresiBnpd
AUgsE 202,1 and Caroline .a5sie. EaardS lopoolniedAuC5[2o23l.
The clerk islonaihan PptÈr ooa5-Ughe5 tts.0 d3yro_ayrygYMeDtQfeIr$i has been ddega-ied.
The Ihanws bènkers are CA% 83nk We5 MaUin& Ken:
The ch3rity5 s1t1[0rS are Gepp lIcIE0rS LLP. i Springfiekl_l n5 AFproa(h. Sprir,gfld. ChelmsfDrd. CA12 >LB.
The ch3rrys aud,:o.'S re •.$,..m1EPd. oiSe. Moun? Pie41Wi4 garne- EN4 9EB.
stRucfuRE, GOIRNAJ4D M4NAGEMENT
Tne EssexYoJth Tru is adTr.InK%ere(i under 3 ttaied 24 Fatsruary 1993
The Crity ha53 pèrmaneni e4GJ¥vrr,èntwni=l ai 31 M3ch 2e24 &tnour11eo IG £9.-37,386.
New Irusrees are sele-red ènd èppoinied [e Ir.Jstee5ff ik.e iaTne beE.
Upon appoinifflent a newtrustee Is owen cotses ofthe s:herr@. Ibe k751.'epoft anLI aCCOL.-ts.:he Tin..'tP5
-pycf 3-. y6raw. fok",-
tsfrl'.É las: rT-e-,Ing ano 3 c-
,Ès_ .4t re rLeii-
s..',s- TeÈLll1 g-FhP
chdl.. m.an eAGl#iP.f cne i.'usi ooe-ai%, èns¥.E'.sany qdaSt.or.sand exJiè.Is poin thraLJnWI'.he
mee: fjg ay4 all suosequenE meetings. twsiees dre re.erred ihe Ciar',tyCommission webs':e fJrguiaaTICE
on Ile role c., a tr Jsiee.
dl
Or8anisaanal and deoon mah"ngsrTuwre of the tharKy
Essex Youth ..rus4 is a 8r3nl-mak1n ciarityano me ifsTee Of[e:har,'ry. as nèmed aLve. .eeT
on 3 quar:Érly basik Al each 4Lafterfy nee:"p.X'..e-.[.S1e=$=Ms.Ckr.
Having regaro 10 Ib.e oer.orffr-"CE C",:-e.'nVekerIts ¥nÈ [rS.e&s reviewrhÈiraftnu31 bJd8et to ensure
Ihdf i,el. prcoose- exDeraiture If prJdL
The charitys a-ner 1n'4esrr,ents a-,c its er311..Je5trP.en- picY.
Granr aoplicakion&
livl
If It 15 cofL<!doree n?ies5ary. Gf-ye Lfustees w..11 Wi%E In.L? awYitÈp.: ror 8 greni apti'Èpcri 10 Ihe reaIn1D.g
Iro5tees. DÈci
S5EXYOUTW. TPJ REPORT OFTh-Trdrn FOR THEY£4R tNDED 31 WCH 2024 Ile lund5 wei e transferred 10 CCLAO!Senatc. l. Ltndon. £C4V 4ET IroTri Colene -.s05 resolroo trorn an èsse55meni of the ¥bilities Df toial Capital ManoLTement In April 2022. T,-.S cryènge of a" return imie51rnen-. managers. e ifu51ees cor.st2-. at tbe flik u. MaF5.,. Fiaiigi by CCLA or lossglr0Jsh Incompeie?ce 8E the lo[ possib. Tfjetrtssis' rev.ewrhe perfLormance o!pnÈ inverLmÈnE uJÈrate on discretionary oas.'s. ifi t.".e Iiglit of rn3rkei condiiicn5. ond Ine prepll LI rr2qarE."s. a-. e.-1 n- Tne banker5 of the charity. C "& sJec131.'se r, o)p.k-.E f-:- on(eivable Sieoto ensure se£uriDi or!unds.. rheif 9055Essioq. Fun4s:2r nnly w.-.40".a¥vi."?W i..e ban ution fb.e F". esentaiion of a heque drawn on pf,e banA and sig-.ed ty VIO %vpere Q&2ii5 are in.he posses&on ofihÈ oank. The clefk ha5 70 poNver 10 deal the rrbsCsfiJs. No."emo-.e b6-.,rg iakliQy IS in F4ace. Tre risk of m15oppIIcar!on of fts.nds Is l¥becbLiSe Subs[1 8r2rr53 gPn io v4ell knoin and solidty estsblished reklDients. Iwer Sm2me rra-s g.¥e-:9-.4itr 1es>NYdl nn. 3."i"iesrhe Tru¥,ees are cJreful ID lake personal refereftces or io carry Oeolth iqspeii cn ar.¢ In[ofvaew. -.ne u¥eE5 are saiisr.,ed i rnisopF1ica-ioq'.s1 The truSEees Irititslky their cthiducl a-l re lfveyse ¥Mth oiie." oranr rnakin8 ch3fities and cor.s..der Ihar Iheir Cand([ cf the chartys aY4irs conir,ues to actr4e and innovau¥e ltrie ri5K trl pcor map.ag&ment is Scw. The trustees cov.firm tnat all mai£¥ rsks h3ve tee4."evebvec a10.tr[ F,.eJ[eS ,le eTr es13blished to m3nage Ihose risks. OBjECtIV, msANDAcrMES The Object and aimsofthe Charity The Db,'e(i Jf Ine thariiry 15 the tt."0 ÈdvèncweDE Ip It 05 yourg peDrAÈ uncertthe dge of 25yeèrsHikJQ are i? need of assist3n,=e so as co ete1-p their phksicpl. rr,en1-r.d sp1f.-.U (apacrk-rs sg ?fi2E i..ey rYa>'zrosvio fuN maiufity as iYdivieLals and member5 of sociery. Yiith a BfÈTc",ene-.ar.tr.oSe +J%a. In rie Qginitsn c-. te trdS:ees. Jre Iri neeo of hÈl? by .'easor, of being Èeryiporarity or perffl3nentty aeprpc ai Icrrp31 PBrer21 care or syrho ?re di¥dvanta8ed ReeW ofthe d0Pmentac0Ibe58tt0 achieft¢ri Ihe cnarify Is'•iell nrn,-s5eX -rdan. Tb.p nurnr an: ou3111y of grani appla[10nS are sufficieni to di5Iribute s prudeni amount oi money Ifi a=cordance Vdith its £(. 4ind Ltye CnariiyCorntYissitsfj'sgulu3ryce on public benefit. ThÈ'.ru5tee5 award grènts T.o,- uer.e", !C&?fie5 tF.Jt LleielCp.'.tThg peDpIès ThYy5.cal. mept&l a-,,d sti'.:QUvl capocll.es lhroJ&h aaive part.C,PaljWi In SPO,~5 and In-oor oJtttOO-. aknl1.,'I'.es. Ps3 resulr rYryBre p8,-..i:u&rly SL'PPO.-,ive of lrouth dubs and other organ15ations which prwde fdC.li15 f=r youv peojlÈ=p arive part In an a5sonmÈnr of 3c:Iwit':es ds well 5 single aciivityo%ar,ISat10fj5 Stees have resolved LO::5Lficcrhe rec'FieriS c., gra?5 tv C3rit!es benelit sioungpeople v.'ho residts i or a.iend facilities Iil,-he old county of Essex wl(h CW>'Sts a-, .5$e S-.JTP.eTrH LD¢cJgh. Tr,urrVcCDUnc.'Eaod tbe l Dndofj 8oroughs of Redbridge, 88rkirig ènd Da8enrtJn. itawering diF u Netharn. The rotsl Income of the irJ5- Yoas i112.315. ariuat aqts.ts ffjSTitJlOf.s dil!y.51X) byere paid duriP.gTtrieyè3r In addiiion rsevreagree0. ij ..e Llerlinad ap.d 2 were y4 thÈ trusiees receiveo soffle 56 3pplI(aiions. 41 of L-- -feire¢. %rylh 3 ictel ccmmi:ffieril for ihe pe". iec of.-147,367 The L", ag., eoc 2 The cI13fiN Is oepeiid&ni upo? rjheInthry Set&s- eTplc)ed cler ty'.ts trystaes. TbEre a-e no eT,ployees. but Ihere Is a splf ACHIEVEMENI5th0 The chariils endly1erLl IS.nSte..rt CC.J I-.£-, in:Cliveano Ir. mdi11121n Iic',ease Oi ' rem5. cnJ in tha fhè¢r!es vroaeryij FiJnd to Èener31 cv..rr.a-
ESSEY.YOlfi it TA$1 REpOoFTETRurE, FOR Tr.EYEAR ENDE) 31 MARCP. 2024 ly April 2022 aftèr taking o(knce ants cgnsice". inj th= mc-&.er.-a'.e'.alty. c- Ided io cnan8e tD.e Ir4ve>.menr poliClto'.oral fetJr wh ch me3ns;Fè Ini'e51T,eril advi50r.'5 e La 1f.wesr In iow.n-n.Ès'.v- ).-KeSri1j Drovicp rnch M: do orovidÈ substanti31 capital 8,, 0.. Th15 rriÈ8r.sir.a.- ile-.fu5--ee¥ p.-dg#- v.'- ctrj is no., aeper,J3-. Gn iilCOiThè frJff. ',nvesrment& bur wll nave rc be mcdifiea 0-r Llwi hairng tsrG LG:re c3P:; .ti oft-e invesrneni5. TIÈ eftdov.eni of the charity Is irvesteo for LTre lon8:erm ano sowll be suèiei LO", a-. htrrt ierrn. Decision a5 ED Ihe 3nTrual expenditure on grank5 wll be m<oe having".eJLT rd 10 itr.e'.ru5ie2gviewofL,È r.eed of DOEen:ial rec.1%{5 of8ranand the value OT Ihe invÈscmei45 borh in Ine shGtt le,. and i&r oo-.er:ièl in ine l-"gÈrier, Tne IniESiTÈnt èiJv159rswill be Inierv..Èvi&d at ledsl ofjnUElly so [l Infrmal dKs101 IS ie r.Aoe 45-c È bnicuni-hat a? bE expeqded Dn grants. The neT income so se.era 15 aVai1e for <5is-.ribrfkion 35 8."èrKs. An unrealised Iwperig31n of £754.13i has arisen dUq-..g1e ye3r. Thus 3t 31 M3rch 2024rhe trustee5 Ve sJffiioenr asses avaiLBNeEO fi.ffil the oblvdaiions OT the charity. PUBUC BENEFIT The Irusrees ion51dÈr rhe ckkirltycrxmis0s guidèr,ce w pu1= beriefiT.ben aorÈÈ.'ng orderlin.iP£ eac-. 8rant dbififjg the trsLep$, miing& I the charitys ècl1[1SfUCuS on Lfr,e oevdopwenLofywin.g pEoJes ptr.ss,'2t. Èr.'&l ond spiritual Ca(1t1ÉS through atrive P3rtlC',P3Lion In saorts anc Indivf oJicJo.-BCEiW.Les 15 ueeifsYo?S tieople b., dev4opin8 rAeir self-coniidence. The ctkrirywelcome5Eraqt applra-iaft5 or. bÈk,s1,=o.aKy1g peGPie", Èg¢JrJle55 0., PeO-. Bl background. faiitr.. gender or person31 c1rtumsTQce5. sp__a coisioeraritsn Is PC I"Gse appl'.c8r,Is %YiJ a. i jnr OPIPdion c',.-he IfUSIÈÈS. 3re In need of itsl La'.È Cf iv Otnermse d&¢fv¥filageC. AU grants 3oprDved Ly Ihe help by reason OE being depred of nfjrma,, pbier. Iruste?s furp.her-he c.".ar.Vs ch¢Jfiiable t)rSeS Gr- ANANC REMEW Vhilsr the ch3ritys enoowmenL Is of a si.an-,ficapr an¢ its Iiccf 15 5Lrficient 10 require an indèpÈndep.t3udit and Ihe prepar8tiM of accounis In Ihe !ari)ai required ty the flar.:ie5 SOqP (Fks 1-2k-. IS 51mJe cperaiion. Resep The tri15%peg reser poliry bev. rleO a.-.c il Via5 dec."deG rbai 4hÈ re5erye syas unrece5SdfityMigh and Ithèc bep.n reduced and stgnc5 ac £9?.900. I he-b of i.e reseTrie arefi"5l:c ?e,'n e Foyiion-.o make 3 SVOStantial ¥-3ni to 0rojectmlc. the tru5cees cangder:o - se:or.otryt-rtr4ioe th- IrusiÉe5 Wi¥P,'-IE¥iJility 50 Lhty do not navÉ is adhere I'&dtytO Lheir bu(18e- Inve5ments The irusieeg investmeni policy been lp.%estttr fndS Ip, tr.e ha5 of iii vesur.eriia¢knscr5 ID accerdance'wvlih its predict.'ons. A5 detailed ar4 atow_ itr,e Iru5LeE5 r.JYJ:-,¥estthe of ire ch8ri.ls funds OTh a totsl.eturn basis and toniinue 10 Invesk in Ihe Ch3rr4".es Propew FL'nd. Tli".iusiee5' ha¥'e the pa5L ar 111 Jc 50.r..:le til. ke qL'olifyf=; a gra*=. The ol'ecE of making a loan rather Ihan it grdP.l.S to eae-r,e cna'.'?-a'èise Gdd..tiondl V¥.'thouT resu. ..ng'.0 3:OmTi erLi31 lefjcjer and to er1¢Ouage tne charityio raise fJnds fvL, Lhe lo.-,8 Le,'ryi to.-epay rhè Io3,- The UUSte rnay In ime future iurn tTre amount OUEstrondiil8 7<-er Ebe loan Ill-c a grar.: Jf j 3",e 3..By$ inrefesl tree. PLAJ4S FOR FLJTURE PEFUODS 'naAe gfars 3S tÉfore a-..s r- erh: of rhè prirr n81 rpLipiÈnt -ie.lwes S'.- he rnore wefjts to a LTrea4er nurntser Gl D&nAficiafie5 0-'82n Sdlions 10 deliver [leS., 'ts-,.'rds 3re leld a5 CL1StCttts EIL.StÈecf.. tser-'f of LLrye". 141ts-.fiies.
fssrJYoufHTrU -NDE) 31 ."IK%CH 2024 FOR TME YW-: STATEMENT OFTRUStEEg RESPON51BILmFS Tr truy.ees are respJn5ible ior grepBri-.gir& Ar.4ual ?ÉOOfk ar.c:he fifia-..al 5iBieTnens in a£4ordai Ce[h applicab1311, and Ur'ted ngdorn AccountirÉ ftarica-c5 (L?1 r8d0 e.-e g1lyAccepd kroJnur.g Pr3aiceL Charity Law In Enoond 3nd via1ès-.%uire5:b.e:;usree5 10 F'.:Pure-,-an:ial 5i3ieT.e.-.& for e3ctr. financ181yearwhich give true 3nd fair vith of the stale of tkie ai-,fS or le 3r.d of rP.e Ip.rn1pO esourtis and 2pplic3tion ol resources of the cfr.ariw lor that year. In pre[,.-° Èse Iifa&r.= al Sfèierien j5. (r,e-"uees B'.e required iO'. 5eleci 5uirèble accountill8 pcliciesap.J Etrn aDptyTfjew:o-.s.g.eni obspNe LhÈ rteic05 p.. :C,'Pies.q;rie CP.c".'V:'5 SQR> mèke..Jd8er4enis a-,y estima:es-:arore reascri3cle ¥-... stale wnÉther 3pplitsble UK a(0 i. gstancla".ts t)een fcAlowe¢5, subjea 10 8ry maierEI departures o1b5dosed Èxploi.-.ec In rhÈ:;r.an=ial &te.~.e ono prepa."e the financi31 cn.=?egLMP.gcDncern bas$ ulÈss ff i5 Jnapprooriote to pr¥ume [t ihe I12rJ 11 continue in operai".on. The Iru%ees are"e5pofis',ble er ke>piP,g acco p.tir.g ffe=ar5 t>.a:.,sclose Wirr re35GrIae a=turaCy al any time tie fin#ncial P051110n o,, Ihe Ci Icritya40 endbie irYeN 10 ep.sd-e tri<t rtre iP.3%.ol st¢5-.eTiep.rs corrt?ly ,th the Clb".Iiie5 Aci 201 l. the Cbariry (AcLOUf.t5 Reports! Reg.,liap. 2008 b-.d {e ifLST Oeett. ,' e1 #". alsa." oS-.ble-:o' TeLIal- ie asss of the ch,arity and hence for t3g reasonaD sreps khe wevei I¢ ario ¢e:eLor, a", .oUG a&d otr.er iye2ulèfitje5. Ill sa far asthe 4W5rÈes areawore. Ihe.'e is no reiÈvè".i o Iheir reJortl o.. lyhic. Ib.e c,,Iritysa ttiiers a-.e'r&&8.e. ap. Ihe irusTrès nève lu4en ali t.e slaps th3t Q. É•- ko. -' rGker. Tll ffke [hemse5 ?wa,'e ofany rdev3r.i èuai inforrykation and io es1115 Enai i.ryeauoitr". j are alre v L ir.at Ir..'JrAiion. Apprth'E 5oafC ofTrusiees on 20 la.-uary2025 ano 5.,gr. be[[Y_
F55YOlrrH TRiiSF
-AUDfops R-PORT
TOTHE MEMBE OFESSyOUTftu5T
FOR ryE w fNDED 3,, 2024
Opifti
We havÈ èudited ihÈ financial er.15 0,.
ssex iou'ih. Tru¥. 14 ie 'cièriWI for ihÈ ye8r endud 31 Marcb 2024 which
compr.'se the ScaLemegt of rin31ci31 AO.Iv,':ies. Ihe 8213r.=e iheel 54ateine.-.i of C-SF. and the i Èlaied note5,
IrKludiri8 a sumffl3ry c.. signincant 2cctrJvfiDS pclicie5
'.eporring frarnework Ena- b.a5 Dèen ap?led ir, Iheir
prÈparari?n 1$ 8pplicable law and Uniiea Kin.or, Acceur. SIanOrC5. 1nclud'.ng vinancol ReFoftinQ S[a.-.darc 102 'The
Financial Reporiing S43nd2rd -PrCaD£ In-.hÈ _K a-,,c RepJbk.C Gf Ire13r,-
Ibniieé K'ngaofn Gene'.&lly AcceF:ed Accounting
Practicel
Tre financial st81emerilS n&e beep. pre5>¢red ..? a£. ¢ènce Qi..li. A:counii28 ¢0 ReoGfE";Tr& ty -b.3riLie5 prÈp3ring their
3CCOUY15 in acccrttance with -,he rinancial Reportip.s SApdards ooJII:8ble i-,,
,e -:.¢ ke-ublic of Ireland (FR5 10211
prefererce ro thÈ Acco'.v'.IPE artt Reportip.o trj (,a..;
-Le-ded Pralce issued on l April 2005 wtr.ira
e5." Sta-.ÈTeThf at ??-. -
15 referreo to in the eX-r.r re8ul3iions W[ri-
This been done in orde.. fgr :he ¢iCCOI-, ts 10 P,"
Loe a irue a-..a fol- v. in accorrtènce [." t40 Generally Acc&pied
ouryiing Pr8ai¢È effectTrr E Ir reutirking OEri.ryts bez.rinifjg a-. or-
-er-:,,3..2.-l 2015.
In our opinion Lhe fir.a.-cial 5tdtements'.
Ive a true anti fair vie4¥ OF rhe stti.& O,.
applIcalon of-:sL.f:esfor Ene jÈb."
have been prots&ty pregBred In 8cc?fLf3P,cÈ w.rn inJ~.ed rge0-, -nra1]Y A(=entee K-:ob'-.Iing Prattice." and
h•Je bÈÈn prepartsd in 3ccorda-.IKe wi-l L reGaem&nts o- tr.ts
3.'IIi-5LI 20";.
.&e chÈ'.i-.y'S gff6.s #L 3". Marck, 2024 and of its Incoming resour-E5 and
BasEfor opinion
-s ?-. L.'.ts-..g IUY IISAS lu) a-4. 3Lplicèoie '.aw. Otsr
We cOnduce our audii In accorttsnce Wkix lite."2-.1-3nol Sk-,dd'.-
respon51b.Iities L'nder those rthr.dorcs are =es-:iJe
-.la L=-."s' ".es?ons,r l.t.¥ for Ihe tf "he fIancial
-ofj of our .'e-ct.
ELfEXYOUTHTRufi INDEPcNDtrrAuDtro REpoKr FQR YEAR E.NDfD 41 MARCY 2024 Matters on whi(hv+t are required to report byexceptson We have nothin8 10 report In respeci of the f)lthwD.g where ihe CarleS (Accounrs and Reports) 4Ègula:ion5 2008 requires u5 10 repori 10 you If. In obr opiryiw. Ihe InToirr6uon w¥eri In theTrusiees' 4eporL is iD.cons.'ster,". Ip anyarlI re5pecc wih the financial staten15.. or sufslc-.enr accoinpino records lave qot=eer, kegL cr rhe finèncial staiemenrs are not In agrcer.Tv1.-,hlfie accGJn[Ing rocoras av.d iewrri& or we have noi received all trE informèEion arEG explaréDO45 y.'eqUi.e lor ou,. audir. Respongbllities oftrusis -e5 S2iwnenL'the Ipistees 3'e resportsiole for the prera[100 of the As explained mo,'e ful in ihe TrurLees' lier_wsi?.'l.": finan=181 SL3terp.enES whicn g.'ve 3 truA cn_'a r'Ji•v. a.-c -i.'n.Iarz1=QtI ]s Ir.e Ti'J5tethS de:ermip.e is necessary to enaole Ihe preparaiion of fiianttal sEalemen tryat are free f.. f.3keriol Fp.55taternenL Wf.£t'-.ef due 10 froua or eryor. In preparing Ihe fin8ntial Si8temeYts. :hti TmY.ees a.. e respons.e cr BSSdSSifjg t- charitys ability:0 continue as a goin8 cnce'n. disclosiV& 2S cpolIC3ble, n?-.ers reia-.&a to Gg.- g cThn-eTr s.,$ of aCCOLJniin8 unless Ihe Truslees erther inieÉt 10 liqusdaie the cr.ariryorio ce8se erationS. or na¥ no rea115ti£ alternatwe Dui to do 50. ditors. responsibilitiesfLYthe aud¢ofthèfitianco1 wren.ei We have beery appointed Ès èJdi:N under settnr. 144 or tr.È:narilies ACE 2011 and report in accordBncÈ the Acr ana rel3t re8ulations or geffeC..-herUnder. Our ODjecEINes are 10 oLTtair. rèasor.ocle è- Jl Lie.Iqa.-.C21 I skè'Érnen ds it whde ?r? f."ee from m.3te"..471 m455ts1emeni, ¥%leiher ¢uÉ LO J.- error. ar,d ro .'55Je dn 4.10..5. Reoori r0( ..p.cludes oDr ODinion. Ro2sonoDle a55uftsnCÈ IS è high level of assura,-,ce.-Ji 15 p.o.- a .a-:ee ifa=. abLlii cop.ouc'.aO .n ac=c". 03nce W.,1 l ila w.11 aayS tteietr a mdiei 1 rn1550terrien,I i- eSE& mssts-ernerE tèr ar.5e traud or efror ad con&defèd m?ieri311., Indikidually or in-,he aEg'eg31e.;hey LOpJlpl re&sor.abry De exceri4 E-;nfldenie thÈ ec(nOmiC aecisK)ns af users tsken cn The basis ofihese fip.anc".al stoiements. ,"tr Énj .-eg..IB:Ion5. IW: de%gn prcctidures li line wii Irregu.3rii'es. Indudirtg fr3dd. ore.i5ta,-cÈs o.. nJr--c-,pl.,dr.-e vi. r respor..sib.Iilies aailined 3bov¢. tG deiÈ:I re"..s1 r.55t#L.en..r. respecic,, r'e8ulari'.ies,.nclbdin8'.r3ua. The exrent io which procedu$ are capaye 0fceteu,18 egal?ri.ie&.'ndJ-i f",a.'d.s detailed below_ Identifyryngand a55etyng potential r5 rdatea to rreg,.atjeS In IdenLii%irig èid aS_S8 r'.sk5 of fioierial rp.6YatÈrn..&ni'.n"esDei ry irregulariies...ncl..ding Irèknd artd rb.OncofflianCÈ laS and re8ulations csnsickreo i?e I101n& The nEiure of tkie -1 er11.,r.Tr.en.- Fe".-.o".Iriar,ce indudingthe d..gr. of Ihe pl(leS arid h3riryian(J sectJr. cttr,I"" periormar.ce 1gf8ets. Results olour enqJiriÈs of ma-..3ueiT.e-. i. Any ryiatter5 e idÈniiTied oV,ngobt8.?ed and rw.ewe¢ ihÈeiiitys docutDeTri8tior, ofiheir policies and PredureS loeniiiying evaluaung !n¢=omBty&ngv¢',th la¥ regl3t15 d.-O vr.eiher Tr.an2gemeTr.i lie."e aware of ap.y in5ianies of non-comlrice. DeceLciP.g 3r,d re5pon¢ingto Er.e.'&Ws OT traud ar,tt .ettEr2aEemery.t Yave knGwièdge of any aruèi. SU5pecied or 8lle8eri fraud. The'.nierrol concrols esaDI., .rQ:o rn.It:13ke'sAsnT."3JJ Gf corp.oliap.cÈ whih13SdTrll ogularion5 ancl The maEter5 diS:ussèd a,-n- the adc.P egag&MaTr j atr. !r-..e Ot=J Ir,-kEe-.Ip,aDciai siaiPtnent5 any . s'"*(...'c procE¢uies (c respo-,, 3112n em¥-. (werri_e.
ESSJYuU-.-
INOEPrN'DcTrf4 AbDtroRs REPO4[
TOTHL v,El18f YRdsTICOJWNUEDI
FOR TriÉ IEAR S.NIUED 31 MARCH 2024
We also 0013inÈd an unde15ap.ding of the ILAÉdl ènd re8. 13iO(Y-f¥TODr T10[1e egry0pe.'81es in. focusing on prtiwsions
of Ihose12¥45 and rv,.53iioriS [81 had a
18M0r&S d oisc105urp.5 ihè
rinènc.'al s:a:Èmert5. In addi-.ia.we cor&ere pr¢vGi¢PS C., law 8.-c re8
IDP.siknbi 00 no- b8ve a direci effou on
the fi. 4Tr-..Clai $131?ment5 DJ.. ComnCe.dVl(v rnay bé.L.
datrprral:o -he e-.i-
"ys ao.':-)':a operaEe.
Audii response to rsks idenDfiett
a rÈsLlI of periofffi..4g rhe atx) our procedure5 [?'. esptho kG Idetr[ included thefdlrtrlng.
ReYievJiD8 the f..ancial >ia;em&nt ."5[SreS è10:e5
-0 855ess Corn13n(e
Drovisiop.s of relw3fj1 lo5 and regts,JCns descr.'Ded &5 c.':efi on Ce filrJ[l xaiement5.
EnqL'iring of m¢fit&emeni.
Performingan3hJcicBI PfOLedure5-9 ioer..i y aTry unds.ai or J-..ÈXu.eU relÈbais:. rh3: may iqdicate ric of m3terial
mi55tatemenr due 10 rraud
Reaoing n.pute5 cf ffleeiingi of Ipose rh.aiged w.ln gtNèrnan=e.
'fiaud IhfAI T.371 a0@.eI overr'.de or cor.-r1s. tesringihe appropriatene of journal en-.riÈs
ane orhe. adjL'stmenis
sessingwnether ihe iuoc T.eqs l£oe.7 88CcOu:.'Tr8 Ès-.lrn4res hrÉ.,-..d.c&bve OT a poipnr.ol bias". 31d
ev3lL,31ing ihe rationale of èny &.8-. .fanEtrafjS6fftP.s in3i are L.SU
ESSEXYOUTh Tru¥r STATEMENtOFRNANCWLACTW, {lNL f%C I%LOUE AND FXPENDrruREACCOUNn FOR THE YEI4 E%DE9 31 2024 Ur.reg'&JL Perrnanent IncornE EnOThen[ Fb'p.ds FLinds 202A 2024 Total FunLts Total Funds Nlote 2024 2023 Income and endownenrs frorrL nveslent.nCorne.. Divioenfjs - The Chariries Properry Fund Gro55 Inieresi 263.596 77.710 72? 109.497 2.818 Total incotne 34? 133 Expenditure on.. Raisingfunds Inves:meni m2pa<1[ feE5 Ch3riiaolÈ èciivities- £rafi FaiaGle Other expendiLbre 74.341 29 1.897 73.383 367.75?. 27.744 29 1.897 Total expendiDJ Netgaino0sSeSI on investmen 71.035 754.135 71,035 754135 1526.7601 Total nei8aang0eSj on investments ',70 Net in.off and net mtyement in funds 554 779 1653,<06; Reconci113ti0n offuftts". f..'rds OlvJgn', for4ard 9.ty36. 13 Total wnds Cairyi TOrr 7D Jl ncOrne and eXnItiE".re tter.ve> yfo~., cnani1nur acuviues. ove. J nere rio reco-ll ga IS losses othe". ha.- Ihose 5tsted lJaveTen15 in funlls arÈ 015Cle 14 fQOtÈ 9 ic Tr f.rI-1.Saa s(e.erl-
ES
EExyQLATrut AirllENT Or CA>h FLOWS FOR TrEYEAR ENDEC 3 1 2024 2024 2023 I@1 cash ftow from operoting actmti 3J£.d581 14- 2.9} Cash fiov4S from Inve%irtg actiwues.. DMdeid5 frotn i-lves-rients Invesril)Èni manager tees Proceeds from Sale ofirkvestment5 Pur¢h2s@ Oi Investfflents 109.497 174.3411 265,506 341.406 173,3831 7.41a.919 17.394.251) Net cash promdett ty irDainganMIi 284.691 Wet decrease in cash and c35h eqJN•ler. I4.6) 1128,2771 Cash aftd c*. e40ValentS ètth@ bwtnYI In8ofLle yea-. 127.6L5 L5i.922 Cash and cash equpialenrs ai Ihe Ènd of.he year 1 i!,n39
ESSEA YoufHTRbsr
ow roTHF.IVL cL >TATEIAETr
FOR THE y¢JR=Na-D 31 V.ARCrl 2024
Prfnapal ctIng poIILies
GeneRI wformaDOP. and basi% ofprÈoaiatiwJ
The ch.arify Ons[LIe5 d
-Iii oeie-i= er-.IP ?s=e'.'pa by FRS 102. ThÈ fanancial s¥a-ernÈnrs k,ave been
prerea in ac=ard¢P.ce Lcoaniin5 a.-- ?(11 * Chafif':es- 5iaiemer,t Jf Recomfper.ded Pfaciice
applicab.'e to ch,an:ies Ihe..: &c-
applicaoie In tk,e UKar.a Ae?LclJC o-. I'elne i, L02l,'SSeC cn Iclulj 20',4. Financial Reporring
standard oppIic2blè In Lb.e'Jn:ed ngCOrr. Rep. ,( of Ire13no Iras lQ2j ano t.-.e Ckia.'iiies Act 2011.
The f.nan(Jal staLener.ts ère nreoa.'èo B g: .g c?rTr=err. bas& iinderthe n[OricaL cost £otivention in
51erlinD which s Ihe rupci.'cn81 CLI[fEThOJ oFr?e c lldr.
Tkesigniiicarr4 acccunti peliiesactili
. Ihe c'e-araaori of r,,e5È dinencol5tateffrnS a set oui
belo..
I b.Èse ocliknies-,.ave CO-.,515eE1.
jjliea W dll ye3fS pse=è a,-le5s cIFerni.'se 5t3ted.
(bl
rivesunent IncL)rne
-t',fj ie Ci.a'.Iiy 15 envt1Èu tc receiut.
InbEStryeni inctsme ISCounted tr In ihe pe'-
1¢
ResoLFrces expended
Expendiiure,S vil ac-ruals Ca-s.
Chèrirable expefjdiiure jr, graft COtnp-. Iseg L4ie Cor. o.-i e:horiYs Wtnty..'tmentlO Bfafjis apofoved In Ihe
ye3r, 35 4e5cribAd,n IDe TrU>reÉs'AnD.ul or %'OTt 1 1 .0 tÈSÈ occouDt5 dÉrailstnE'.ecipiEnsp of-he
grar.rs.
xedknet 5nvestsxer
fe share5 3-,,
-r.'il=S J-J.led-.n rw)tE 12 rc trÈse 3=COI Ints ano Ine 1nve5tmeniin.the C[l[leS
Properti. . are iTr.cILded a- T.a."KÈiValJe lia L3laTrce 5Xee: d&Le A-.
jf.fDdJisec g81n )"1055 Hris'.ng
from rnoverr.er.rs in sha'e o.-,Cr5""¢ IfL -hG itstÈmerJl o-, -[rarckl ActIe
lel
Realert and losse5
I gdins IG
ESSExYoJrH.Tru tqOETOThf rlFultr4CkL sfATEfvI.tNTS FCR TE YELR FNOCD3 1 VARCH 2024 Trusreeg remuneration No rrJsiee p.or 2ry pers-n Con[w.ttr:.ery h2S..2eped or eueio receivÉ any remuneration or exJenses for tle peri1 MdirettF%r, rorp.:".e charitys fund5. 2024 2023 Other expenditure Audit of e iinènc',al Stale.e,; Preparaiioll o. Ine Iinar.=lol SluieTrenES FinatTrCiol ad.:451[&0ry. legal ar.tt O¥YÈf BaV.se5 Bank=•è".ge> 3,6 .812 22.200 132 6.468 2774 Reconoliation of net incometo netcashflow from operatg actMt5 2024 20 IDecre8sey Increose in Ibftds Profi cn ifjwesiryenis I'.ealr5ett' ProfiU(Icssl on aleStseTrs iun'eals M3piggÈment fets edJ[ed f"cm.nve51T.er.& ?OrfrJlJ Dividenos 4Ècei'lEC fro[ 1lVéS4W.efj Ilp.crea5ey dtcrease Ill detslD"S Increa5el Idecr>3sel pn=reortos 554.779 1653.i061 1754.1351 7É,s41 1-,39.49T, 421; 526,760 73.383 4961 .930 Net cash oJtft '.Y':om ooerat.r,o actities 305 i6&1 11. 2,9"81
E<
NO.:tSTOTh- rF*A FOR Tr+E YEAR-L'DÉ? 3,, FI.ARIM 2024 2024 2023 The Charioes Property Fund- Mo[rlIn)ear Markeivalue ar l Apr.,12023 and T ri1 20?2 Unrealised Ioss 1.613.180 itr:n 87DI 1.874,340 Markeivèl.Je at 31 Mèrch 2024 an¢ 3,. Marip £023 1.622 ',8Q 2024 2023 Debto rued 1p.come - 8.:is 8.3.41 2D24 20 Creditorsthemithin one year Acciue¢ È¥per.se5 00 5.200 ementin fvnlts forthefinanci?lyeaT ncome End(y)t Total 881ance at l April 2023 MtrvÈrynL In fn0$ larrheyea.. 8.936.606 8.8£2.607 Balance ai 31 arch 2024 9 10-..776 9,437.Ib6 Consisting of. Ixed ac5ei 1niiesimep.rs cLfren{ assets Currenr liabilitie5 9.3¥Tr1.495 4oOa8', 9,301 £95 41.79'1 13'I&L901 Id2£.3901 9. tr5-..775 9.437,386 15
ESSE&YIYJTHTrUST
.?7É r]r,.STA-:EENtS
FOR fdE YE
13" I i a 11-