Charity number. 250271
THE APPLETON TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

THE APPLETON TRUST
CONTENTS
Page
Reference and admlnlstratlve detalls of the charlty. Ils Irust8es and advisers
Trustees. f8Frf)rt
Independént examinerfs report
Stal?menl of financial activities
Balance sheet
Notes lo th8 flnancla18tatements
9-15

THE APPLEfoN TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees
N Mansley. Chair (resigned 1 January 2021)
J Findlay (resigned 1 January 2021)
J J Hlll$ {resign6d 1 January 2021 >
The reverend S Taylor (appolnted 1 January 2021)
l D Btythe, Chair lappolnted 26 June 2024)
O P Garratt lappolnted 26 June 2024
Charity registered number
250271
PrlncipalofflGe
Dloce8an House
Lady Woollon'6 Green
Canterbury
Kent
CT1 1NQ
Accountants
Kr88ton Reev85 LLP
Chartered Accountants
37 Sl Margaret's Street
Canterbury
Kent
CT1 2TU
Bankers
Lloyds Bank plc
49 High Stre81
Canterb
Kent
CT1 2SE
Page I

THE APPLEfoN TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECENBER 2020
The Trustees present their annual report logetherwith the financial sla18ments of The Appleton Trugt (the charity)
for the year ended 31 December 2020. The Tnjstees confirm that the annual report and financial statements of
the charity comply with the current slalutory requirements, the requirements of the charity's governing document
and the provisions of the Statement of Recommended Practice ISORP) applicable lo charities preparing their
accounts in accordance wf(h the Financial Reporting Standard applicable In th8 UK and Republic of Ireland
(FRS102) (effectlV8 1 January 20191.
Structure. govemance and management
CONSTITUTION
The Charitabla Trust, established by Hugh Thomas Appleton. 18 conslituled by a Trust Deed dated 4 October
1966 and is a registered charity number 250271.
METHOD OF APPoINTME￿r OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are elected and ¢o-OPted under Ihe
terms of the Trust Deed.
The Trustees on page 1. with the 8XC8Ption of S Taylor, served as Managing Trusleeg throughout the year.
Appointment of Trustees is gov8rned by the Trust Deed of the charty- The Trust Deed appointed the Canterbury
Diocesan Board of Finance Ith8 Board) as Custodian Trustee. to hold the Trusl Fund in perpetuity, and the
Chairman, Treasurer and Secretary of the Board as Managing Trustees. The office of the Treasurer is no longer
used by the Board and. therefore, a Scheme amending the Trust Deed was agreed by the Charity Commission
allowing the Archbishop's Cauncil to appoint a Trustee in place of th8 Treasurer.
RISK MANAGEMENT
The Trustees have C￿sidered the risks in making loans avallabl8 in accordance wlh the TrusV$ Obje￿IveS. and
viewthe possibility of default in repaying these loans lo be minlmal.
The Trustees wdl ensure that the level of invested capital will not reduce below the original endowment of
£150.ODO.
Objectives ar*J Actlvlties
POLICIES AND OBJECTIVES
The principal object Df th8 charity Is to further such charitable purposes connected with the Church of England as
the Managing Trustees shall in their absolute discretion decide.
GRANT MAKING POLICIES
The policy of the Charilable Trust continues to be to provide grants to Institutions and indlviduals wincipally
associated with the Diocese of Canterbury that meet the objects of the charity and especially those connected
with Ihe Church who are facing hardship and where other a55istsnce is eilher unavailable or insufficient. The
Trust also offers loans to the clergy, parishes and lay worker5 of the Diocese of Canterbury mainly to assist in
the purchase of cars and computer equipment.
Page 2

THE APPLEfoN TRusr
TRUSTEES. REPORT {continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
MAIN ACTMTIES UNDERTAKEN TO FURThER THE CHARtrYs PURPOSES FOR PUBLIC BENEF
The tnain activities ￿e set out in the revi8w of ￿1vI￿ below. The Trustees have considered the Charity
Commission's guidance on publ￿ benefiL including th8 guid￿ "publio b8n8fit: running a charity (PB2)".
Achlevoments and perfommnce
GOING CONCERN
Th8 Trustees are of the opinion that the Chty has adequate resources to continue in operational existence for
the foreseeable future ar¥J thwe are ￿ Materi￿ unc£rtwnties regarding the Charivs ability lo do $0.
REVIEW OF ACTivmES
This year. 1 grant (2019.. 6) was 8A*arded to institutions and Ir￿1￿(￿￿5 arKI ttr￿ amount granted was £103 (2019..
£14,005). Trustees provide car loans to linised w(th within th8 Di￿e88 and computer loans to Diocesan
staff. athough this facilty 15 litite used at presenL The Trustees a150 provide loans to individuals facing hardship in
aCCc￿dance with the Trust's grdnl makirvJ pc4icy. The total reserves of the trust I￿reased by £82,335 in the year
(2019.. £142.9601.
Financial revlew
FINANCIAL POSITION AT YEAR END
At 31 December 2020 the charity has net assets of £919,05512019.. £836,72Q). Er￿OWrnent reserves of£845.769
{2019: £783.20n conststed of investmerts of £1.110.650 (2919." £1,048.088), cash of £19,997 {2019." £26,660)
and unpaid granl commitrnents of £284,878 (2019." £291,541). Unrestricted reserves were £73,286 (2019..
£53.513).
RESERVES POLICY
It is the wlicy of the Trustees to hokl a sum in free reserves sufftient to enable the charlty to fu￿1 pollcy of
providing loans and grants to insbtutiorts aTrJ iTrjrrfMJu￿s. The unrestricied free reserves at the end of the year
siood al £73.286 (2019: £53.5131. The Trustees L￿rts1der the omnt level of reserve5 15 adequate.
hlATERIAL INVESTMEIITS POLICY
The Trustees (xjntinwj their Investment Policy during the ywas follo￿.
To continue to use CCLA Management Ltd lo Mar￿ ther investment [￿rollO.
To ke8p surplus liquid funds M short lemi deposit.
To move towards holding longer term investments at the follcAving levds:
Investment Fund (60%)
Propety Fur)J (30%)
Fixed Interest Fund (100/0)
Page 3

THE APPLETON TrUST
TRUSTEES. REPORT Icontlnuedl
FOR THE YEAR ENDED 31 DECEMBER 2020
FUTURE DEVELOPMENTS
The Tft￿teeS will continue to be alert to opportunities to support the mission and ministy of the Church of
England in the Diccese of Canlerbury, in ￿OrdanCe with the objects of the TrusL
TRUSTEES, RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance y￿th
applicable law and United Kingdom ACC￿nting Standards {United Kingdom Generally Accepl&d Accounting
Praclicel-
The law appllcable to charities In England and Wales requires the Trustees to prepare financial statements for
each financial year which give a true and falr view of the state of affairs of the charity and of the incoming
resources and application of resources of the Gharily for that period. In preparing these financial stalemenls. th8
Trustees are required to:
select suitable accounting policies and then apply them consistentty-
observe the methods and principles in the Charities SORP.,
make judgments arvj a¢¢ounling e51imates that are reasonable and prudent,.
prepare the financial statements on the going concem basis unless il is inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping proper a¢¢ounting re￿rdS Ihal a￿ suffKient to show and explain the
charity's transactions and (Ilsclose with reasonoble accuracy at any lime the financial posilw)n of the charity and
enable them to ensu￿ that the financial staternents comply with the Charities Act 2011. the Charity (Accounts
and Reports) Regulalions 2008 and the provisions of the trust de8d. They are also responsible for safeguarding
the assets of the charity and hence for taking reasonable steps for th8 prevention and detection of fraud and
other irregularities.
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAAIHNER
Each of the persorts who are Trustees at the lime when this Trustees. report is approved has confirn)ed that:
so far as that Trustee is aware, there is no relevant inf0mial￿ of which the charivs indeFendent
examiner is unaware, and
the Trustee has taken all Ihe steps that ought to have been taken as Trustee in order lo be aware of any
relevant Inf￿MatiOn and lo establish that the charli￿$ independent examiner is aware of that information.
This report was approved by theTrustee on ....
and signed by=
i D Blythe
Trustee
Page 4

THEAPPLETON TRUST
INDEPENDENT EXAMINER'S REPORT FOR
THE YEAR ENDED 31 DECEMBER 2020
Independent Examinerfs Report to the Trustees of The Appleton Trust
I report lo the charity trustees on my examinat(on of the ￿Unts ofthe charity for the year ended 31 Decem
2020 which are set out on pag8s 7 to 15.
Responslbllities and basls of report
As the chariws trustees you are responsible for th8 ￿eparat￿ of the a(Lounts in a¢cordan¢e with the
requirements af the Charities Act 2011 {'the Acf).
I report in respect of my examination of the charity's accounts carried out under secbon 145 of the 2011 Acl and in
carrying out my examination I have followed ail the applicable Direcllons Oven by the Charity Commission under
Section 145(5)(b) of the Act
Independent examlnefs statement
I have completed my examination. I confTh that no material matters have come to my attentlon In connection with
the exanwnalion gvitNJ me cause to b8lwe that in any materiat respecL'
accounting records were nol kept in ￿pect of the tharfty as Tequwed by 130 of the Act. or
2. the accounts do not aCC￿d tlv)se rewds: or
3. the accounts do not comply with the appli¢able reqUireM¥￿ts cM¢erning the form and content of accounts
Set out in th8 char￿eS (Accounts and RepLYtsI Regtlatlon$ 2008 other Ihan any requirement that the
accounts give a 'true a￿1 fair vie¥K whth is not a matter constdered as part of an independent examination.
I have ￿ concerns and have u)me across m Olher mallws u) with the examination lo Vth￿h attention
should be drawn in this report kn order to en*e a woper Understar￿1r￿j of the accojnts to be reached.
This report ts made solely to th8 charity's Tn￿tees. as a bLxty. in ats)Yda￿ with $￿tIOn 145 of thè Chartties Act
2011 and regulations made under sectK)n 154 of that A"ct. My work ha5 been undertaken so that I might stale to the
charity's Tnjstees tTrh)se matters l am required to state to them in an Independent Examinerfs Report and for no
other purpose. To the fullest extent permitted by IwAt. I do a¢cept or assume responsibility to anyone other than
the charity and the charivs Trustees as a bcKJy. my work or for this report.
Page 5

THE APPLETON TRUST
Signed:
S M Rouse FCCA DChA
Kreslon Reeves LLP
37 St Margarets Street
Canterbury
CT1 2TU
Date: 30 August 2024
PaBe 6

THE APPLETON TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED31 DECEMBER 2020
Unrestricted
funds
2020
Endowrnenl
funds
2020
Total
funds
2020
Total
funds
2019
INCOME AND ENDOWMENTS FROM:
Charitable activities
Investmenls
105
33.030
32,S74
32,574
TOTAL INCOME AND ENDOWIJIENTS
32,608
31608
33.135
EXPENDITUREON:
Charitable activities
12,835
12,835
29.957
TOTAL EXPENDITURE
12.835
12,835
29,957
NET INCOME I (EXPENDITURE) BEFORE
INVESTMENT GAINS
Nel (losses)Igains on investments
19,m
19.773
2,562
3.178
139.782
62,562
NEf INCOMEI(DEFICIT) FOR THE YEAR
19.773
62,562
82,335
142,960
NEf MOVEMENT IN FUNDS
19,773
62,562
82,335
142,960
RECONCILIATION OF FUNDS:
Total funds broughtfotward
53,513
783,207
836.720
693.760
TOTAL FUNDS CARRIED FORWARD
73,286
845,769
919.055 836.720
All a¢trvities relate to continuing operations.
The notes on pages 9 to 15 form part of Ihesefinanclal statements.
Page 7

THE APPLETON TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2020
2020
2019
Note
FIXED ASSETS
Investments
1,110,650
1.048,088
CURRENT ASSETS
Debtors
2,827
89,796
Cash at bank and In hand
107,482
107,482
92.623
CREDITORS- amounts falling due
within one year
{299,077)
(303,991)
NET CURRENT LIABILITIES
<191,595)
(211,368)
NEf ASSETS
919,055
836,720
CHARITY FUNDS
Unrestricted funds
Endowment funds
10
10
73,286
845,769
53.513
783.2D7
TOTAL FUNDS
919.055
836,720
The financial statements were approved by the Trustee
. and signed by:
l D Blytho
Trustee
The notes on pages 9 to 15 ft)rm part of these fina[￿[al statsments.
Page 8

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
GENERAL INFORMATION
The Appleton Trust 18 an ￿nin￿rporated Trust reglstered in England and Wales with the Charty
Commission. The charity reglslrallon number Is 250271.
The charlty's prfncipal office is Canterbury Diocesan Board of Finance, Dlocesan Hous8, Lady Wootton's
Green, Canterbury, CT1 1 NQ.
ACCOUNTING POLICIES
11 Ba81s of praparatlon of financial statements
Basls of preparatlon: The financial st81ements have been prepared in accordance with the Charities SORP
IFRS 102) Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to
charities preparing ther accounts in accordanco with the Financial Reportlng Standard appllcable In the UK
and Republic of Ireland IFRS 102118ffecllv8 1 January 20191, the Flnanclal Reportlng Standard appllcable
In the UK and Republlc of Ireland (FRS 1021 and the Companles Act 2008.
The Appleton Tru81 conslltut88 a public benefll enllty 85 d8flned by FRS 102.
The charlty's funcllonal and presenlatlonal Currency Is Pounds Stérllng.
The ¢harlty's flnanclal statements are presented lo th8 nearest pound.
2.2 Fund accountlno
General funds are unrestrlcled funds whlch ara avallable for use at the dlscrellon of the Truste88 In
furtherance of the gonoral oblecllv95 of the charlty and whloh have not bgen de8lgnated for other
purposes.
Investment Income, galns and10sseB are allocated to the 8pproprlate fund.
2.3 Incom•
All Incomè Is recognlsed once the charlty has enllllement lo the income, it is probable that the
Income wlll be received and the amunt of income receivable can be measured rellably.
2.4 Expendltur•
Expendllure Is recognlsed onc8 th8re Is a legal or ¢onslruollve obligation to transfer economlc
benefrt to a thlrd paty, il is probable that a transfer of e¢onoml¢ ben8flls wlll be required In
settl8ment 8nd the amount of the obllgatlon can be measured rellably. Expenditure is dassrfied by
activity.
Grants payable ar8 charged in the year when the offer Is made except In those cases where the
offer is condlllonal. such gran19 belng recognlsed as expendlture when the conditions attaching are
fulfilled. Grants offered subject to conditions which have Th)t been met at the year end are noted as a
commitment. but not accrued as expenditure.
Page 9

THE APPLETON TRUST
NOTES TO THE FINANGIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
ACCOUNTING POLICIES {contlnuedl
2.5 Investments
Listed investments are a form of financlal Inslrurnent atKI are initially recognised at their transaction
cost and subsequently measured al fair value at the balan￿ sheet dale using the closing quoted
market price. Investment galns and losses, whether realised or unrealised. are combined and showTJ
in the heading'Net (lossesygalns on imiestmenls. in the Statement of Financial Activities.
2.6 Int8rest rqGglv3ble
In18T851 on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank
2.7 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount Ffepaid nel of any trade discounts due.
2.8 Cash at bank and In hand
Cash at bank arKI in hand irKludes cash and short term hithly liquid investments with a short
maturity of three monlFks or less from the dale of acquisltion or opening of the deposit or similar
accourrt.
2.9 Credltors
Liabilities are recognised when there is an obligation at the balance sheet dale as a result of a past
event, it is probable that a transfer of economic b2nefit will b8 required in setUem8nt, and the
amount of the settlement can be estimal&d reliably. Liabilities ar8 recognised al the amount that the
Charity anticipates il will pay to settle the debt or the amount it has received as advanced payments
fDr the good5 or services It musl provide. Provisions are measured at the best estimate of the amounts
required lo setue the obligation. Where the effect of Ihe lime value of Money is material, Ihe provision
is based on the present value of those amounts. discounted at the pre-tax discount rale that reflects
the risks specific lo the liability. The unwinding of the di$¢ount is reCo￿lSe￿ within Inte￿$t payable
and similar charges.
2.10 Financial Instruments
The charity only has financial assels and financial liabilities of a kir￿ that qualfy as basic financial
instruments. Basic financial instruments are initially recognised at transacllon value and
subsequently measured at their settlement value.
2.11 Golng Concern
The Trustee5 are of the opinion that the Charity has adequate resources to continue in operational
existence for th8 foreseeable future and there are not material Un￿rtaInlieS regardlng the Charivs
ability to do so.
Page 10

THE APPLETON TRUST
INCOME FROM CHARITABLE ACTIVITIES
Unrestrlcted Endowmont
fund8
Funds
2020
2020
Total
funds
2020
Total
funds
2019
Charllable 8cllvll
34
105
In 2019, of the total Income from charltablè acllvitles. £105 was lo unrestricted funds.
Page 11

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
INVESTMENTINCOME
Unr08trlcted Endowment
Fund
Fund
2020
2020
Total
fund
2020
Total
fund5
2019
Investment income - li8ted
ITweslmenl income- cash
31384
190
32.384
190
32.781
249
32,574
32,574
33,030
In 2019, of the total Inve51menl Income, £33,030 was io unrestricted funds.
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTlVtTIES
2020
2019
Counselllng fees and expenses
Grants
Exp8nditur8 on govemance
9,922
103
2,810
10.312
14,005
5.640
12,835
29,957
Tho oranls were as follows:
2020
Number
2020
2019
Number
201É
Together Kent
Indlvldual$
10,OOC
4,ooe
103
103
14.01
Page 12

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
FJXED ASSET INVESTMENTS
Llst8d
securitl8S
Inarket value
At 1 January 2020
Revaluations
1,048,088
62.562
At 31 Decombfrr 2020
1,110,6SO
Investments at market value comprfse:
2020
2019
Ll8ted Investments
1,110.650
1,048.088
All the fixed asset Investment8 held in the UK in Central Board of Finance fijnds Managed by CCLA
Investment Management Llmlled.
Malerlal Investments
311)ecember
2020
31 Dec8mb8r
2019
CBF Investment Fund
CBF Property Fund
CBF Flxed Interest Se¢urilles Fund
928,288
20,411
163,953
868,726
21,257
158.105
1,110,650
1.048,088
DEBTOR8
2019
other debtors
2,827
CREDITORS: Amounts falllng du• wlthln ono year
2020
2019
Grant commitm￿ts
Other creditors
284,878
14,199
299.077
291,541
12,450
303,991
Page 13

THE APPLEfoN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
RELATED PARTY TRANSACTIONS
2020
2019
Management charge due to Canterbury Dloc888n Board of Flnance
2,750
2,700
In 2017, a grant lotallng £300,000 was awarded to th8 Canterbury Diocesan Board of Finance lo help
them achleve their strategic goals. Al the year end. the amount due lo tho Canlert)ury Dlocesan Board
of Flnance was £284,87812019'. £291,541).
No Trustee8 recelved remunerallon In r8SP8cI of tho year 8nd8d 31 Dècembèr 2020 (2019.. £Nil) and no
Trustees were relrnbursed expenses in resp8Ot of th8 year ended 31 December 2020 (2019.. £NII).
There were no other related p8rty Iransacllon8 In the year ended 31 December 202012019: £NII).
10. STATEMENT OF FUNDS
Brought
Forward
Galngl
(Losses)
Carrled
Forward
Income
Expandlture
Unrestrlctgd funds
General Funds- all funds
53,513
32,608
(12,835)
73,286
Endowment funds
Endowment Funds- all funds
783,207
62.562
845.769
Total fiJnd8
836,720
32,808
112,8351
62,562
919,066
2019
Unrestrlcted funds
General Funds- all funds
JOA35
33,135
(29,957)
53,513
Endowment funds
Endowment Funds- all fund8
643,425
139,782
783.207
Total of funds
693.760
33,135
(29,957)
139,782
836,720
Page 14

THE APPLEfoN TRUST
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unreslrlcted Endowment
funds
funds
2020
2020
Total
funds
2020
2020
Fixed asset investments
Current assets
Credltors due within one year
1,110,650
1,110,650
87,485
19,997
107,482
(14,199) 128L878) (299,0771
73,286
846,769
919,055
Unr•strlct•d Endowmont
funds
funds
2019
2019
Totsl
funds
2019
Flxed asset Investm8nls
Current assets
CredSlor8 due wlthln one year
1,048,088
85,963
26,660
(12,450) 1291,541)
1,048,088
92,623
(303,9911
$3,513
783,207
836,720
Page 15