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2024-04-05-accounts

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

ELIZABETH RATHBONE CHARITABLE TRUST

(Charity Registration Number : 233240)

ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Index

Page

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Trustees' Annual Report

The Trustees have pleasure in submitting their Annual Report and Financial Statements for the year ended 5th April 2024.

Objectives and Activities of the Charity

The Charity's objects for the public benefit, in accordance with its governing document, are to apply the income and capital of the Trust at such times and in such manner for exclusively charitable purposes in any part of the world as the Trustees in their discretion think fit. To meet with their objectives the Trustees make grants to, usually, registered charities. They hold Unrestricted Funds and so all funds are available to meet the charity's objectives.

The Trust's income is generated by its investments and the Trustees are satisfied that the Charity's assets are adequate to fulfil its current objectives, which are to continue for the foreseeable future. Fundraising activities are not normally carried out.

The Trustees have complied with s17(5) of Charities Act 2011 and have had due regard to the guidance issued on Public Benefit by the Charity Commission when exercising relevant powers or duties.

Achievements and Performance

All grants awarded by the Trust during the year were made to charities focussing on benefitting the

people of Merseyside.

A total of 40 grants were paid during the year, ranging between £500 to £3,000 each (2023 - 40 grants ranging between £500 to £3,000 each). A full list of donations made is included in the notes the accounts and can be analysed by aim as follow:

Analysis:
Children and Young People
Social Welfare and Community
Health & Wellbeing, Disability		 %
38
34
27
100		 £
24,900
22,308
17,840
65,048

Financial review and results for the year

Review of the Activities of the Charity:

Income from investments totalled £79,015 (£80,018 in 2023) with £10,931 (£11,000 in 2023) being spent raising the funds in the form of investment management fees, only. As detailed in the notes to the accounts, £71,941 (£88,890 in 2023) was spent on the charity's activities, including support and governance costs.

The SOFA includes net gains and losses arising on revaluations and disposals of investments throughout the year. For the year ended 5th April 2024 recognised gains totalling £168,953 (losses of £216,913 in 2023).

Page 1

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Trustees' Annual Report

There was a net increase in Unrestricted Funds of £165,096 during the year (net decrease of £236,784 in 2023), resulting in the trustees holding a total of £2,760,559 of Unrestricted Funds as at 5th April 2024, compared with £2,595,463 Unrestricted Funds as at 5th April 2023.

Reserves:

General reserves are unrestricted income funds, freely available to spend on furthering the charity's purposes. General reserves are those which remain after the Trustees have set aside amounts required for specific purposes, such as designated funds. Restricted Funds, Expendable Endowment and Permanent Endowment are excluded when Trustees consider the Reserves of a Charity.

It is not the intention of the Trustees to build up income reserves, with all funds being available for spending at the Trustees' discretion. The Trustees consider designating funds if supporting multi-year charitable projects but all donations continue to be subject to review and approval. The Trustees liaise with the investment manager regularly to ensure they are aware of any forward commitments, which are then taken into account when managing the Charity's investments and transfers made between funds as necessary. Accordingly, the Trustees consider the balance of Unrestricted Income Funds held at the financial year-end to be General Reserves.

Investments:

The value of the Trust's portfolio as at 5th April 2024 totalled £2,651,524, an increase from £2,538,669 as at 5th April 2023.

The trustees are satisfied with the investment performance, which has been reviewed in accordance with the Policy Statement. The Trustees do not propose to make any changes to their policies at this time and will continue to review the position.

Uninvested cash is held in client accounts at Rathbones Investment Management and considered to be at a sufficient level for the Charity's purposes.

Structure, Governance and Management

The Elizabeth L Rathbones Charitable Trust is a registered charity (no: 233240). Its governing body are the Trustees of a Settlement dated 26th April 1921. New Trustees are elected by a majority of existing Trustees and selected according to their connection to the existing trustees, their skills, experience and understanding of the obligations imposed on such an appointment.

The Trustees meet twice a year, usually in Spring and Autumn, to consider and discuss applications for funding, income levels and to review the performance of the investments. They ensure they operate within the guidelines as set out by the Charity Commission by discussing matters arising as highlighted by the Commission during their meetings and taking advice from Rathbones Trust Company as necessary.

All of the Trust's capital is invested on stock markets or held in cash. As there are no restrictions relating to investment under the governing deed, the Trustees have resolved to delegate the management of the investments to Rathbones Investment Management Limited.

Page 2

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Trustees' Annual Report

The Charity Trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks (Charities Accounts and Reports) Regulations 2008). After considering the areas of governance, operation, financial, environmental and compliance, the Trustees have identified that major negative fluctuations in the value of the charity's investment assets post a major risk to the Charity's funds. In order to mitigate this risk and in accordance with s15 Trustee Act 2000 the Trustees have established a Policy Statement to be adhered to by the Investment Manager, which shall be reviewed at least annually in line with investment performance. The Trustees will review risks to which the charity is exposed and monitor systems and procedures established to mitigate those risks on a regular basis.

Reference and Administrative Details

Registered No: 233240 Principal Office: 546 Warrington Road, Rainhill, Prescot, L35 4LZ Trustees who Megan Jane Rathbone (Chair) served during Susan Kennedy Rathbone the year: Caroline Edith Rathbone Jonathan Henry Rathbone Committee Julian Rathbone Lucy Rathbone members: Rhona Rathbone Sarah Gledhill Administrator: Liese Van Alwon Accountancy: Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Independent Kerry Roberts c/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Examiner Investment Rathbones Investment Management, Port of Liverpool Building, Pier Head, and bankers: Liverpool, L3 1NW

Plans for the Future

To continue to seek out well run projects which support disadvantage women, young people and communities, with a particular focus on charitable projects based in Merseyside.

Page 3

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Trustees' Annual Report

Trustees' Responsibilities

The Trustees are responsible for preparing the Trustees' Annual Report and Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Declaration

The Trustees declare that they have approved the Trustees' Annual Report above.

Agreed and signed on behalf of the Board of Trustees by:

05 February 2025 | 1:44 PM GMT

Megan Jane Rathbone (Chair) Date

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Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Independent Examiner's Report

Independent examiner's report to the Trustees of the Elizabeth Rathbone Charitable Trust (233240)

I report to the Trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 5th April 2024, which are set out on pages 6 to 15.

Responsibilities of the Trustees and Independent Examiner

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). You consider that an audit is not required under s144 of the Act and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. It is my responsibility to state whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view. The report is limited to those matters set out in the statement below.

Independent Examiner's statement

I am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council (FRC). Rathbones Trust Company has provided bookkeeping services in accordance with the terms of engagement signed by the Trustees and I do not report to the bookkeeper in any respect. I give due consideration to the FRC's Revised Ethical Standard 2019 at all times.

I have completed my examination and confirm that no matters have come to my attention which give me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order for a proper understanding of the accounts to be reached.

05 February 2025 | 2:31 PM GMT

Kerry Roberts TEP FMAAT MCSI Date
C/o Port of Liverpool Building, Pier Head, Liverpool

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Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Statement of Financial Activity

----- Start of picture text -----
Unrestricted Unrestricted
Total Total
2024 2023
£ £
Notes
Income from:
Investments 4 79,015 80,018
Total 79,015 80,018
Expenditure on:
Raising funds 5 10,931 11,000
Charitable activities 6 71,941 88,890
Total Expenditure 82,872 99,890
Net gains/(losses) on investments 11 168,953 (216,913)
Net movement in funds 165,096 (236,784)
Reconciliation of funds:
Unrestricted Funds brought forward at 6 April 2023 2,595,463 2,832,247
Unrestricted Funds carried forward at 5 April 2024 2,760,559 2,595,463
----- End of picture text -----

The notes on pages 8 to 15 form part of these accounts.

Page 6

Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Elizabeth Rathbone Charitable Trust

Accounts for the year ended 5th April 2024

Balance Sheet

----- Start of picture text -----
All funds All funds
Unrestricted Unrestricted
Total Total
2024 2023
£ £
Notes
Fixed Assets
Investments 11 2,651,524 2,538,669
Current Assets
Debtors 12 4,881 8,382
Cash at bank and in hand 13 117,104 58,122
Total Current Assets 121,985 66,504
Liabilities:
Current Liabilities:
Creditors: amounts falling due within one year 14 12,950 9,710
Net Current Assets 109,035 56,794
Total Net Assets as at 5th April 2024 2,760,559 2,595,463
Funds of the Charity
Unrestricted Funds 2,760,559 2,595,463
Total Funds of the Charity at 5 April 2024 2,760,559 2,595,463
Agreed and signed on behalf of the Board of Trustees by:
05 February 2025 | 1:44 PM GMT
Megan Jane Rathbone (Chair) Date
----- End of picture text -----

The notes on pages 8 to 15 form part of these accounts.

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Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

1 Charity Information

The Elizabeth L Rathbone Charitable Trust is governed by a Settlement Deed dated 26th April 1921 and registered in England and Wales. Its principal address is 546 Warrington Road, Rainhill, Prescot.

The charity is a Public Benefit Entity as defined by FRS 102.

2 Accounting Policies

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Charities Act 2011 and FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.

The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Going Concern

The Trustees have assessed whether the use of Going Concern is appropriate and have concluded that the charity has adequate resources and reserves to enable it to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern and thus the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the financial statements.

Charitable Funds

Unrestricted funds are available for use at the discretion of the charity in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity.

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Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

Expenditure

Expenditure is recognised when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date.

Cash grants made are recognised when paid.

Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources in no longer required, provisions are reversed and charged to the SoFA.

Investments

Investments held in the fund are included at their market value as follows:

Investments are classified as a fixed asset except and only classified as a current asset where the intention of the trustees is to dispose of the asset and not reinvest the proceeds.

Other recognised Gains and Losses

Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost and are charged or credited to the Statement Of Financial Activities in the year of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the Balance Sheet date.

Taxation

The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.

Cash and cash equivalents

Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

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Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

3 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4
Investment income and interest
Fixed interest
Unit Trust dividends
Unit Trust Interest
Overseas income
UK Equities dividends
REIT income
Non reclaimable tax deducted at source
Bank interest
Accrued Income charge		 2024
£
9,029
9,594
3,178
21,364
35,154
2,118
(1,437)
1,804
(1,789)
79,015		 2023
£
6,824
11,494
3,009
20,675
37,361
2,086
(1,682)
251
0
80,018

Page 10

Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

5
Raising funds
Rathbones Investment Management costs
6
Charitable Activities - Grant making
Analysis:
%
Children and Young People
38
Social Welfare and Community
34
Health & Wellbeing, Disability
27
100
Charitable Activities
Grants awarded to Institutions:
ADHD Foundation
All Together Now
Catholic Blind Institute
Chrysalis Centre
Compass Counselling
Country Trust
Dingle Multi Agency
Dream Holidays
East Liverpool Riding
Edge Hill Youth Centre
Everton & Anfield
Foundations Years Trust
Freedom Church Liverpool
Friends of Molyneux
Girls Friendly Society
Halewood Women's Institute
Happy Days Child
Home-start Southport
Huntington's Disease Association
Iranian Liverpool Community
It's Your Life
Kids Connect
KIND
Knowsley MBC
Koala NW
Leasowe Play Youth
Liverpool Somali Community
Liverpool Women's
Liverpool School Tropical Medicine
Carried Forward		 2024
£
10,931
10,931
2024
£
24,900
22,308
17,840
65,048
2024
£
0
0
0
3,000
3,340
1,500
0
0
0
0
2,500
2,000
0
808
1500
0
1,500
0
0
0
0
2,000
1,500
500
2,000
0
0
0
1,500
23,648		 2023
£
11,000
11,000
2023
£
29,590
33,887
18,036
81,513
2023
£
1,000
2,000
2,456
0
0
0
2,976
1,580
2,500
3,000
0
0
2,600
0
0
1,500
0
3,000
2,500
3,000
2,400
0
0
0
0
2,500
2,000
1,500
0
36,512

Page 11

Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

6
Charitable Activities
Brought Forward
Marine in the Community
Movema
Netherly Youth
New Belve Youth SC
Newlife
Open Door Centre
Orrell Park & District
PBC Foundation UK
PCC St George Huyton
Phoenix Community
Power 2 Ltd
Prescot Mission Xmas
Prisoners Education Trust
Reach Out
Reader Organisation
Royal Court Liverpool
Roy Castle Lung Cancer Foundation
Sailors Children's Society
School Readers
Sefton Talking Newspaper
Shaftesbury Youth Club
SolaArts
Solicitors Pro Bono
Spinal Injuries
St Andrews Clubmoor
Stick 'n' Step
Support Through Court
Swan Women's Centre
Team Oasis Children's Charity
The Belvedere Centre
The Bluecoat
The Dystonia Society
The Fillies GFC
TLG (Transforming lives for good)
Toxteth Women's Centre
Tranmere Rovers
Triple C
Venus
Walton Vale Comm Shop
West Coast Crash
Wirral Comm Narrowboat Trust
Women on Bikes
YKIDS Ltd
Total Grants		 2024
£
23,648
0
1,500
0
3,500
1,000
0
0
0
2,000
0
1,500
2,000
0
1,000
0
1,000
0
2,400
0
3,000
2000
0
0
3,000
0
0
2500
0
0
0
0
0
0
3000
0
2,500
0
2,500
0
3000
1,500
2,500
65,048		 2023
£
36,512
1,250
0
2,000
0
0
3,000
1,500
500
0
2,000
0
0
2,690
2,000
0
2,000
0
1,000
0
500
0
0
3,000
1,000
0
3,000
1,000
0
3,000
1,600
1,000
1,000
2,000
2,971
0
1,990
0
3,000
0
2,000
0
0
0
81,513

Page 12

Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

6
Charitable Activities
Total Grants
Governance costs (note 7)
Support costs (note 8)
Total Expended on Charitable Activities
7
Governance costs
Accountancy and Compliance fees
Independent Examination fee
Legal fees
8
Support costs
Office expenses
Secretary's fees		 2024
£
65,048
3,840
3,054
71,941
2024
£
2,280
960
600
3,840
2024
£
54
3,000
3,054		 2023
£
81,513
3,888
3,489
88,890
2023
£
3,066
822
0
3,888
2023
£
253
3,236
3,489

9 Trustee remuneration, benefits and expenses

None of the trustees have been paid any remuneration or received any other benefits during this or the previous financial year.

No trustee expenses have been incurred or repaid during this or the previous financial year.

10 Other information

The charity had no employees during this or the previous financial year. The trustees are also the charity's key personnel.

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Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

**11 ** Investments
Value at		 Purchases Sales Realised Unrealised Value at
06/04/2023 at cost proceeds Gain/(Loss) Gain/Loss 05/04/2024
Listed:
326,032
UK Investment Interest		 53,638 37,295 (444) 10,057 351,988
Overseas
1,078,092		 337,665 260,026 11,097 192,033 1,358,861
1,134,545
UK Investment Income		 0 150,080 (17,323) (26,467) 940,675
2,538,669 391,303 447,401 (6,670) 175,623 2,651,524
**12 ** There was a reclassification of certain investment holdings, resulting in a difference in category values brought
forward. However, the Total value of the portfolio brought forward remains unchanged from the Total value as at
the previous financial year-end.
Debtors
2024
2023
£
£
Dividends due but unpaid at year end
4,881
8,324
Income Tax repayable
0
58
4,881 8,382
**13 ** Cash at Bank and in hand
Cash		 2024
£
117,104		 2023
£
58,122
117,104 58,122
**14 ** Creditors
Rathbones Trust Company Limited
Rathbones Trust Company Limited - prior years
Secretary's fees - prior years
Secretary's fees		 2024
£
3,240
3,474
3,236
3,000		 2023
£
3,060
3,414
0
3,236
12,950 9,710

There was a reclassification of certain investment holdings, resulting in a difference in category values brought forward. However, the Total value of the portfolio brought forward remains unchanged from the Total value as at the previous financial year-end.

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Elizabeth Rathbone Charitable Trust Docusign Envelope ID: 82066ECB-72BE-4519-AA2D-C0620A45D64A

Accounts for the year ended 5th April 2024

Notes to the Accounts

15 Financial Instruments
Carrying amount of financial assets
Debt instruments receivable within one year
- Debtors
- Cash
Carrying amount of financial liabilities
Payable within one year
- Creditors
Instruments measured at fair value through SOFA
Investments at value		 2024
£
4,881
117,104
121,985
12,950
2,651,524		 2023
£
8,324
58,122
66,446
9,710
2,538,669

16 Related Party Transactions

Amounts received by or paid from the E L Rathbone Charity to the a related party are disclosed in note 6*. Charitable organisations with which the trustees of this charity have an interest are always properly declared and acknowledged during determination of applications. If such a situation arises. The trustee with the related party interest does not participate in the decision making process other than to clarify facts.

There were no related party transactions during this or the previous financial year that require disclosure.

Page 15