The Inlight Trust
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Charity Number: 236782

Contents
Page
Legal and administrative information
Trustees annual report
Independent auditor's report
statsment of flnanclal actlvities
Statement of financlal posltlon
Notes lo the accounts
10-14

THE INLIGHT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs J Hayward, Senior Trustee
Mrs S Knight. Honorary Treasurer
Ms J Dunham
Mrs S Vening
Mr S Collins
Mr P Summerfield
Auditors
Branston Adams
Chartered Certtfied Accourrtants
Sutte 2 Victoria House
SoLrth Street
Farnham
Surrey
GU9 7QU
Principal registered address
Clare Pegden
Administrator
POBox2
Liss
Hampshire
GU33 6YP
Charity Registration Number
236782
Bankers
Cazenove Capttal Management Ischrodersl
1 London Wall Pla
London
EC2Y SAU
Solicitors
Moore Barlow
The Oriel
Sydenham Rd
Guildford
GU13SR
Investment Advlsors
Cazenove Captlal Management (Schroders)
1 London Wall PlacE
London
EC2Y SAU

THE INLIGHT TRUST
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their Report and Accounts of the Charity for the year ended 31 March 2024.
The financial statements have been prepared in a¢cordan¢e wth the accounting policies set out in
note 1 to the accounts and comply with the charity's trust deed ,th8 Charities Act 2016 and
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 published on 17 July 2014.
1. STRUCTURE, GOVERNANCE AND MANAGEMENT
The Inlight Trust is an unincorporated Trust created by a Trust Deed dated 12th June 1957. It is a
Registered Charity, number 236782.
The Trustees who served the Charity during the year were as follows..
Mrs J Hayward, Senior Twstee
Mrs S Knight, Honorary Treasurer
Ms J Dunham
Mrs S V8ning
Mr S Collins
Mr P Summerfi8ld
The Inlight Trust's Trustees are elected by a majority vote of all the Trustees. In the past ten years our
policies and procedures for induction and training of our Trustees have been called into play in seven
cases.
In general, our policy is to seek potential Trustees who- a) come highly recommended by more than
one referee already known to the Trustees, or bl are known already to one or more Trustees to be
like-minded in ternis of our objectives and activities (see 2 below) and who at the same time are able
to contribute their knowledge and experience of the areas from where our income is derived (see 4
below).
The procedure is for the potential trustee to be first interviewed by the senior trustee and the treasurer
and then, after discussion of the issues and accountabilities relating to our part of the charity world, he
or she will be invited - subject lo mutual agreement- to attend our next Ihree or four quarterly
meetings as our guest. Thè Trustees will then discuss the appointment and vote on it. Provided the
majority are in favour the Senior Trustee will then invite our guest to formally attend our next meeting
and complete the ne￿SSary documentation as a new Trustee. In tems oftraining and getting familiar
with our work, they are referred to the Trust Deed, we have developed a 'Trustee's questions. letter,
and we recommend that all Trustees should visit the Charity Commission's website at
www.Gharit commission.
ov.uk from time to time lo acquaint themselves with the guidelines for
Trustees, the public character of charity, the emergence of new charitable purposes, charrties for the
relief of sickness. etc. In addition, we try to make opportunities for a new trustee to 'ShadO￿ a more
experienced trustee, possibly alongside our professional advisors, as are constantly seeking to
optimise particular aspects of our operations (see 2, 3. 4 and 5 below)
2. OBJECTIVES. ACTIVITIES, RISK MANAGEMENT AND RESPONSIBILITIES
The Trust's purpose is the furtherance of charitable religious activities and organtsations on an
undenominational basis.

There has been no material change in the Trust's grant making policy. It ￿ntInueS to be directed
towards Charities concemed wrth religious and spiritual development, healing and growth on an
undenominational bask8.
The routine business of the Trust continues to be carried out on a voluntary basis by the Senior
Trustee, the Honorary Treasurer and four further Trustees. During this year the Trust's Auditor has
also agreed to assist in an advisory capacity. A part-time Administrator assists them. There are
currently six Trustees in total. Decisions on Grants and the management of the Trust's assets
continue to be made by the Board of Trustees 8$ a whole at regular meetings.
As Trustees of The Inlight Trust we are duty bound to demonstrate not only competen￿, challenge,
and knowlèdge of charity affairs, but to make oUrSe￿eS aware of any significant risks which the
Charity may face on a regular basis and to ensure that the annual review of our financial and
operational affairs carried out through our internal discussion8 and audit programmè will provide
sufficient resource8 to deal wth any adverse conditions.
AS to any fresh and significant risks and responsibilities whTrch the Charty may fa￿ in the future. we
have been concemed that °duital continuw of documents (that is th8 ability to use our information in
the way we need, for a5 long as we need) and the availability of trwo signatures re Gheque5 and other
legal docum8nts can both be put at risk by death, a￿dent, changes in organisalion. management,
pr¢Jcesses, technology, holidays, or travel. In practical lemis. our infomiation is only usable if we can
find it, open il, work with it, understand it and trust it.
In order therefore for u8 to maintain infomiation continuity and the ability to do our business, we
ensure that our Administrator acts as a hub for all information, and in case of accident th* her
infomiation 8y8tem will be understood and accessible to at least one named trustee.
The Trustees have assessed the disclosures made in the Truslee's report and consider that these
sufficiently delail the significant activities undertaken in order to carry out the charity's aims for the
public benefit. When planning the Charity's activities, the Trustees have given regard to the Charity
Commi88ion8 guidan￿ on public b8nefit.
3. ACHIEVEMENTS AND PERFORMANCE
In th8 year ending 31 March 2024. The Inlight Trust made:
22-grants totaling £174,500 giving an average of £7,932 per grant (compared to the year
ending 31 Marth 2023: 16 grants totaling £125,0(X) giving an average of £7,812 per granti.
A detailed list of grants made in the year is included in note 5 of the attached accounts.
Historically the Trustees mel quarterly but more regular meetings have taken pla￿ since the Covld
19 Pandemic to ensure a swifter distribLrtion of funds and there are no plans for this to change.
The Trustees fed that their obj'ectives have been adequately met this year.
However, the Trustees are aware that there are extemal factors which could affect the achievements
of their objectives. In respect of investments these are dependent on the general performance of the
UK markets. In order to minimize this, the Trustees have set prudent investment policies and place
relian￿ on the technical expertise and foresigm of the investment managers to monitor and advise
on necessary investment changes and suitable ass8t allocations.
There are no restrictions on tYk8 Charrty's power to invest. The investment strategy is set by the
Trustees and takes into account income requirements. the risk profile and the investmenl managers
ew of the market prospects in the medium temi. The overall investment poliGy 15 to maximize total
retum.

The investrnents market value as at 31 March 2024 £371,879 (2023 . £987,408).
Overall the investment p)rtfolio has maintained FerfOrMan￿ and after the above reorganisation the
investments are being made in accordance with the Trustees. investment policy set out above.
The Trustees are satisfied with the overall perfom)ance of the investments and remain satisfied that
their investment obJ"ectives are being met and their policy is being achieved.
4. FINANCIAL REVIEW
The Trust's strategic income policy is to increase both the capital value wherever possible and the
income of its assels and to achieve the maximum distnbution of income consistent with prudent
management. As an endowed Charity. the Trust has never made an apFEal for funds. The Trust's
income continues to derive from residential properties, from chartiable common investment funds and
from bank interest.
In recent years the government redU￿d our dividend income by taxal￿n and introduced legislation
that has steadily added to our residential property Costs over and above inflation, and thus to the level
of resetves required to maintain the Properttes both to a sattsfactory standard and to ensure that they
meet current regulatory requirements. Accordingly. we continue to Carefully review the perfoman
of our residential properties (see 5 tElow), and whilst we keep info￿ned about our Investsnent Fund
Managers, policies V￿ continue to be satisfied with their overall perfomiance.
The Trustees confirm that all the Trust's investments are in line wtth the original deed, i%ing in elhical
common investment funds. and the Trustees have been advised by their Fund Managers that our
indirect exposure is less than 5% in areas of concem e.g. tobacco, armaments etc.
lthilst Ihe Trustees work hard to ensure they act in accordance with all current rules and
regulations, the decision was made as the world becomes generally more litigious. that it would be
prudent to reduce the Trustees personal exposure and an appropriate insurance package was
purchased from Zurich. Additionally. it was agreed that investigation into the merits of becoming an
Inwrporated body should be undertaken.
Investigation into the merits of b￿MIng an IncorFrf)rated b(yJy is ongoing
6. PLANS FOR FUTURE PERIODS
During the year under review. in conjunction with our respeGtive managers, we have Gontinued our
p￿VioUSlY established strategic approach to the individual and collective Strengths, Weaknesses,
Opportuntties and Threats. in respect of all our investment funds and residential properties.
Working dosely with the Trust's legal advisors consideration is being given to establishing a CIO for
Inlight as a replaceiiient for The Inlight Trust. This would allow the incorporated body to enter into
contraGts in its own name rather than requiring the Trustees to do this in their individual capacity on
ehalf of the Charity
We have continued with our more attentive approach to residential properties" we continue to dispose
of selected older properties in vthich there are no longer Regulated Tenants. in favor of affjuiring
more modern properties.
6. STATEMENT OF TRUSTEES. RESPONSIBILrriES
The charrty's Trustees are responsible for preparing the Trustees Annual Report and the financial
statements in accordan￿ with applicable law and UK accounting standards (UK Generally Accepted
Principles).

The law applicable to dprities in England and Wa18s requires Ihe Trustees to wepare fnancial
ststements for each finanoal year whith give a lrne and fair vtew of the slate of affair5 of the charity
and of the incoming reswTh and appli¢atK)n of resources for th& cfrN9rity for that period. In preparing
these financial statements. the T￿￿ are requireil to:
seled suitable a(￿x￿ntIr￿ tdicies arNJ then them t4￿￿ls18nty,
observe the methods and princxples of the Chartties Statement of Recommended Practlce
(SORP)".
make Judgments arKI estimates that are reasonab￿ arKI pnKlent
state ￿ther a￿lICat￿e standards have been folhmd, subject to any material
departures disck)sed arKI explained in Ihe firwirxal Statem￿ and
prepare the financial statements on ts going concem b8sis unless it i8 inappropriate to
presume that Ihe d)anty will o)ntinue in OFwakn.
The Trustees are restKthle for keeping proper ￿)unt￿)g re￿dS that disdose with reasonable
accuracy at the time the financial [￿tIon of the charity and enabk them to ensure that the financial
statements comply with the Charities Act 2011 and the Charity (ACc￿nts arKI Reports) Regulations
2008. The Trustees are also responsible for safeguarding the assets of the charity and hence for
tal￿￿9 reasonabte steps for prevention and detection of fraud and olher I[￿ularl11e$.
7. DISCLOSURE OF INFORMATION TO Au￿oRs
In so far as the Trustees are aware:
there is rK) relevant audit u)fonnatw)n of which the charitys auditors are unavmre: and the
Trust8es have taken all steps that they ought to have taken to make
themselves a*vdre of any relevant audit infornth a￿1 to establish that the auditors are
Signed on behalf of the Trustees of The Inlight Tntst by
Dale

Independent Audltorfs report to the Trustees of Tho Inlight Trust for the year ended 31 March
2024
We have audited the financial statements of The Inlight Trust for the year ended 31 Marth 2024 set
out on pages 8 to 14 which have been prepared on the basis of the accounting policies set out on
page 10. The financial reporting framework that has been applied in their preparation is applicable law
and Uniied Kingdom accounting standards (United Kingdom Generally Accepted Accounting
Pradi¢e).
This report is made solety to the charity's Trustees as a body. in accordan￿ with Section 144 of the
Charities Act 2016 and the regulations made under Section 174 of that Act . Our audit work has been
undertaken so that we might state to the charity's trustees those matters we are required to state to
them in an auditor's report and for no other purFose. To the fUl￿st extent perniitted by law, we do not
accept or assume responsibilty to anyone other than the thartty and the charity's Trustees a8 a body,
for our audit work, for this report, or for the opinM)ns we have fonned.
Respective responslbllltl88 of Trustees and Audltor
As explained more fully in the statement of Truste8s' R88ponsibiltties, the Trustees are responsible for
the preparation of the financial statements and for being satisfied that they give a true and fair vi8W.
We h8ve been appointed as auditor under section 144 of the Charities Act 2016 and report in
accordance wtth regulations made under section 174 of that Act. Our responsibility is to audll and
express an opinion on the financial statements in accordance with applicabl8 law and International
Standards on Audrting (UK and Ireland). Those standards require us to comply with the Auditing
Practices Board's ethical standards for auditors.
Scope of tho audlt of the financlal 8tatements
An audit involves obtaining evidence about the amounts and disdosures in the financial statements
sufficient to give reasonable assurance that the financial statements are f￿ from material
misstatement, whether caused by fraud or error Thts includes an assessment ofr. whether the
accounting policies are appropriate to the group's circumstsn¢es and have been consistently applied
and adequately disdosed., the reasonableness of signtfi¢anl accounting estimates made by the
Trustees- and the overall presentslion of the financial statements. We read all th8 infomiation in the
report of Trustees to identrfy material inconsistenc*s with the audited financial statements. If wè
become aware of any apparent material misstatements or inconsistencies we consider the
impliGations for our report.
Oplnlon on flnanclal statements
In our opinion the financial statement8:
give a true and fair view of the state of the Charitls affaws as at 31 March 2024 and of the
Charity's incoming resources and application of resources, for the year then ended..
have been properly prepared in accordance with United Kingdom Generally A¢￿pted
Accounting Praclice arKI
have been prepared in accordance wrth the requKements of the Charities Act 2016.
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of the following matters where the Charities Act
2016 requires us to report to you if, in our opinion..

the infomation given in the report of Trustees is inconsistent in any material respect with the
financial statements-
sufficient accounting records have not been kept"
the financial ststements are not in agreement with the accounting records and returns and
we have not received all the infomation and explanations we require for our audtt.
Paul Branston Adams (Sanlor Statutory Auditor)
For and on Behalf of Branston Adams
Statutory Auditors and Chartered Certified Accountants
South Street
Farnham
Surrey
GU9 7QU
Date

The Inlight Trust
Statement of Flnancial Aclivities
Forthe year ended 31 March 2024
2024
2023
Note
INCOMING RESOURCES
hvestment hcome
Interest Receiva￿0
R￿tal hcome
42,759
6,735
321.873
47.995
2,146
321,789
TOTPL INCOMING RESOURCES
371.367
371,930
RESOURCES EXPENDED
Costs of generating funds..
Rental expenses
Charriable actiwties
Governancè costs
fvtsnagement and adminisration
101,376
125,000
174,500
52,TT8
33,553
TOT￿ RESOURCES EXPENDED
322.187
259,929
NET RESOURCES EXPENDED BEFORE ASSET DISPOS*L
49.180
112,001
Gainsl(Loss) on disposals of wopety assets
Gainsl(Loss) on disposals of investment assets
NET RESOURCES EXPENDED BEFORE REVALUATIONS
49,180
112,001
Gainsl(Loss) on revaluations of propety assets
Gainsl(Lo88) on rewaluations of investment assets
9,937
(80,815)
NET MOVEMENT IN FUNDS FOR THE YEAR
59,117
31,188
Total funds at 1 April 2023
8,484,315
8,453,129
TOTPL FUNDS AT 31 M*RCH 2024
8,643,432
8.484,315

The Inlight Trust
Statsment of Flnanclal Posltlon
As at 31 March 2024
Note
FIXED ASSErs
Tangible assets
bTrf8strnents
8.057,500
371,879
8,429,379
7.057.500
987,408
8.044,908
10
CURRENT ASSETS
Debtors
11
112,853
118.853
436,831
444.269
CREDrroRS: amounts falllng du8
within rme year
12
(4.800)
(4,862)
NET CURRENT ASSETS
114,053
439,407
TOTPL ASSETS LESS CURRENT
UPBILITIES
8,543,432
8,484.315
THE FUNDS OF THE CHARITY
LknTestri¢ted income funds
13
8.543.432 .
8.484.315
TOTPL FUNDS
8.543,432
8A84,315
The financtal statements were approved by the Trustees on ..lo
and were signed on thelr behalf ty:

Notes to the financial ststements
For the year ended 31 March 2024
1. ACCOUNTING POLICIES
a) Basis of preparatlon and Golng concern
The financial statements have been prepared in accordance wsth the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 issued on 17 July 2014 and the Financial Reporting Standard applicable in
the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2016.
The trustees consider that there are no material uncertainties about the Trust's ability to
ontinue as a going concern.
b) Incomlng resources
Income comprises gross investment income, deposit interest and property revenue.
All incorning resources are included in the Statement of Financial Activities when the charity
has entitiement to the funds, certainly of receipt and the amount can be measured with
Sufficient reliability.
c) Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals
basis, inclusive, of any VAT which cannot be recovered. All expenditure has been classified
under headings that aggregate all costs related to the category. Costs that cannot be directly
attributed to particular headings have been allocated to acttvities on a basis consisterrt with
use of resour￿5.
Grants payable are only recognised in the accounts when a commitment has been made and
there are no conditions to be met relating to the grant whiGh remain in the control of the
charity.
d) Fund accountlng
Funds held by the charity are unrestricted general funds, which are available for use in
acGordance with the charitable objects at the discretion of the Trustees.
el Tanglble fixed assets and depreciatlon
Freehold investment properties are professionally valued every five years, which is in
accordance with recommended practi￿. In intervening periods, invesbnent properties are
shown at market value based on the trustee's review.
The last professional valuation took pla￿ during March 2023.
Leasehold protErties a￿ shown at market values allowing for the length of temi remaining on
the lease and are professionally valued every five years. The last valuation took pla￿ durFng
March 2023.
No depreciation is provided on freehold or leasehold properties as they are held as investment
properties and recorded at market value.
10

n Fixed asset invesknents
Investments are a fomi of basic financial instrument and are initially recognised at their
transaction value and subsequently measured al their fair value as al the balance sheat date
using the closing quoted market pri￿. The statement of financial activities includes the net
gains and losses arising on revaluation and disposals throughout the year. The Trust does not
acquire put options. derivatives or other complex financial instruments. The main fomi of
financial risk fa￿d by the charity is that of volatilty in equity markets and investment markets
due to wider economic conditions, the attitude of investors to investrnent risk, and changes in
sentiment conceming equities and within particular sectors or sub sectors.
g) Reallsed galns and losses
All gains and losses are taken to the Staternent of Financial Activities as Ihey arise. Realised
gains and losses on investments are calculated as the drfferen￿ between sales proceeds and
their opening carying value or their purchase value if acquired subsequent to the first day of
the financial year. Unrealised gains and losses are calculated as the difference between the
fair value at the year end and their carrying value. Rèalised and unrealised investment gains
and losses are combined in the Statèment of Financial Activities.
h) Assets and liabilities
Current assets are included at the lower of cost and net realisable value. Liabilities are
generally recognised as soon as there is a legal or constructive obligation committing the
charity to the expenditure. Liabilities are included at their settlement valuÈ.
2. INVESTMENT INCOME
2024
2023
UK quoted investments
42.759
3. INTEREST RECEIVABLE
2024
2023
Interesl rèceivable
6,735
4. RENTAL EXPENDITURE
2024
2023
Community charges and general rates
Agent's fees
Repairs and maintenance
SeNice charges
Light & heat and insurance
493
39,695
30,220
10,346
14,155
94,909
969
41,409
45,382
8,397
5,304
101,461

6. GRANTS PAYABLE
2024
2023
Grants
174,500
125,000
Grants were made as follows in the year ended 31 Mar¢h 2024:
2024
1210512023 Douglas Macmillan Hospice
1210512023 Zoe's Place Trust
1210512023 Salisbury Cathedral
1910612023 Ellenor
1910612023 Shipston Home Nursing
1910612023 St Francis Hospice
3110812023 A Rocha UK
3110812023 Princess Alice hospi
3110812023 St Catherines Hospic8
3110812023 St Andrew's Hospi
3110812023 St Helena Hospice
2311112023 Dent Meditation Centre
2311112023 Interfaith Network
1110112024 Rookhow
1110112024 Good Faith Foundation
1110112024 City Hope trust
1110112024 DemeEza House Children's Hospice
2110312024 Ayrshire Hospice
2110312024 Bethel Church
2110312024 East Anglia Children's Hospice
2110312024 Katharine House Hospice
2110312024 St WIWrid's Hospice
12,000
13,000
18.000
5,000
13,000
7,000
5,000
6,000
10,000
4,000
10,000
5,000
2,500
7,000
7,000
5,000
7.000
13,500
4,000
13.500
5,000
4,000
174500
6. GOVERNANCE COSTS
2024
2023
Management and admlnlgtration costs
Professional and legal f*s
Accountancy fees
Audit fees
Staff salaries
Pension
Travel, stationery. postage and office expenses
23,786
2,616
2,880
16,668
241
6,587
52,778
4,885
2,824
3,280
17.970
318
4,276
33,553
12

7. TRUSTEES
None of the Trustees or any persons connected wtth them re￿iVed any remuneration during the
period. Six Trustees and one employee were reimbursed a total of£6.587 {2023- £4,276) for travel,
stationery, postage and office exFenses.
STAFF
The average number of person's employed during the year was 1 (202>1)
2024
2023
Staff costs were as follows:
Staff salaries
Social security costs
15,689
979
16,668
16,844
1,126
17,970
No Employee or Trustee r8ceNed emoluments abjve £60.000.
9. TANGIBLE FIXED ASSETS
2024
2023
Freehold and leasehold investment property
As at 1 April 2023
7,057.500
7.322,500
Additions
Disposals
Revaluations
1,000,000
265,000
Balan￿ as at 31 March 2024
8,057,500
7 057,500
Properties are freehold and leasehold and were last professionally valued during March 2022 on
an open market value basis Subject to the tenanues subsisting at the valuation date and the
leasehold terms remaining.
Trustees have confirmed that the value shown accurately refiects the proFerties at market value,
in accordan￿ with the tharity's accounting policy.
10. INVESTMENTS
2024
2023
Investments Valuatlon
Market value as at 1 April 2023
987,408
1,068.478
Additions
Disposals
Revaluations
(625,466)
9.937
{80.815)
Market value as at 31 March 2024
371,879
987 408
13

The Charity held the following rnaterial UK investment portfolios as at 31 March 2024-.
2024
Material UK Investments
Cazenove Income Maximiser Fund
Cazenove Charity Multi-Asset Fund
98,666
273,213
Market value as at 31 March 2024
371.879
11. DEBTORS
2024
2023
Trade debtors
Other debtors
1,353
6,000
6,000
6,000
7,353
12. CREDITORS: Amounts falling due within one year
2024
2023
Pension
Accruals
62
4,800
4,800
4,800
4,862
13. FINANCIAL COMMITMENTS
At 31 March 2024 the charity had no financial commitments (2023 - £Nil)
14. RELATED PARTY TRANSACTIONS
Ther8 were no related party transactions in the year. (2023 - £Nil)
15. TAXATION
The Inlight Trust is a registered charity and therefore is not liable to income tax or corporation tax
on income derived from its charitable activities, as it falls within the various exemptions available
to registered charities.
14