Charlty number. 2S0271
THE APPLETON TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

THE APPLETON TRUST
CONTENTS
Page
Reference and admini5trdtive details of the charlty, Its trustees and advlsers
Trustees. report
Independent examlnetrs report
Statement of financial activltsgs
Balance sheet
Notes_ lo the financialstatements
9-15

THE APPLETON TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THe YEAR ENDED 31 DECEMBER 2021
Trustees
N Mansley. Chair (resigned 1 January 2021)
J Findlay (re8lgned 1 January 20211
J J Hllls (resigned 1 January 20211
The reverend S Taylor lappoinl6d 1 January 2021)
l D Blythe, Chalr lappolnted 26 June 2024)
O P Garratt (appolnted 26 June 2024)
Charlty reglstered number
250271
Principal offlce
Dlocesan Hous8
Lady Wootton'8 Green
Cant8rbury
Kent
CT1 1NQ
Accountants
Kreslon Reeves LLP
Chartered Accountants
37 Sl Margaret's Street
Cantèrbury
Kent
CT1 2TU
Banker$
Lloyds Bank plc
49 Hlgh Street
Canterbury
Kent
CTI 2SE
Page I

THE APPLETON TRUST
TRUSTEES. REpoKr
FOR THE YEAR ENDED 31 DECEMBER 2021
The Tru¥lees P￿Sent their annual report together wilh the finanGial statements of The Applelon Trust (the charity)
for the year ended 31 December 2021. The Trustees conf5rm that the annual report and financial statements of
th8 charity comply with th8 current slalulory requiremènts, the requirements of Ihe ¢harity's governlng document
and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their
accounts in accordance with the Financlal Reporting Standard appllcable In the UK 8nd Republic of Ireland
(FRS102) (effective 1 January 20191.
Structur•. govarnanc• and managemènt
CONSTITUTION
Th8 Charllable Trust, establishèd by Hugh Thomas Apploton, Is constituted by a Trust Oeed dated 4 October
1966 and Is a reglsl8red charity number 260271,
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEE8
The management of the charlty18 the responsibillty of the Tru8lees who are elected and Cowopled under the
18rms of the Trust Dèed.
Of the Tru51ees on page 1. S Taylor 5eTved a5 Managlng Trustee throughout Ihe year. Appolnlment of TTUStees
Is governed by the Trust Deed of the rharlty.The Trust Deed appolnled the Canterbury Diocesan Board of Finance
(the Board) ?5 Custodian Tru51ee. to hold the Tru51 Fund in perpetuity, and Chalrman. Treasurer and
Secretary of the Board as Managlng Trustoes. The offi¢e of the Treasurer is no longer usel by the Board and.
the￿fOre. a Scheme amending the Trust Deed wa5 agreed by the Charlty Commission aliowlng the Ar¢hbSshop's
Councll to appolnl a Trustee In place of Ihe Tr&asurer.
RISK MANAGEMENT
Trustee8 have con81dered th& risks in making loan8 avallable In accordance wlth tho Trust's objectives, and
view the possibility of default In repaying these loans to be mlnlmal.
The Trustees will ensu￿ that the level of invested capilal wlll rv)t reduce below Ihe original end¢)wment of
£150.000.
ObJ•ctlv•s arKI Actlvltles
POLICIES AND OBJECTIVES
The prInC￿al oblect of the ¢harfty Is lo further such char(18ble purposes connected wtth the Church of England a5
th8 Managing Tnjstees shall In Ihelr absolute discrelion declde.
GRANT MAKING POLICIES
Th8 polioy of th8 Charitabl8 Trust continu8S to be to prDvide gran15 to institutions and indNlduals principally
associated with th8 Dioc8se Df Canterbury that meet the objects of the charity and especlally those connected
with the Church who are facing hardship and where olh8r assistance is either unavailable or insufficient. The
Trust also offers loans to the clergy. parishes and lay workers of the Diocese of Canterbury mainly lo assist In
the purchase of cars and compulerequipmenl.
Page 2

THE APPLETON TRUST
TRUSTEES, REPORT (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITf6 PURPOSES FOR PUBLIC BENEFIT
The main activitles are sel out in Ihe review of activities below. The Trustees have considered the Charity
Cc*mmission's guldan¢e on public benefit, including guidance 'publlc benefit: runnlng a charfty (PB2)'.
Achievements and performancg
GOING CONCERN
The Trustees are of the oplnbn that the Charity has adequate resources to continue In operational existence for
the foreseeable fvture and there are no material uncertaintie5 regarding the Charity's ability lo do so.
REVIEW OF ACTivrriES
This y8ar. 1 grant (2020.. 1) was awarded lo institutions and individuals and the amount granted wa5 £730 (2020.-
£1031. The Trustees provide Car loans to li￿nSed workers within the Dlocese 2nd computer loans to Diocesan
staff. although this facillty is little used at present. The Trustees also provide loan5 to tndividuals facing hardship in
accordance with the Trust's grant making policy. The lolal reserves of the trust increased by £141,897 in the year
(2020.. £82.3351.
Flnancial review
FINANCIAL POSITION AT YEAR END
At 31 Décember 2021 the charity has nel assets of£1.060,952 {202Q.' £919.0551. Endowment reserves of £970.167
(2020.. £845,769) consisted of Investments of £1.235,048 {2020.' £1,110.6501, cash of £19,997 {2020.- £19,99n
and unpaid gr8nt commitments of £284.878 (2020.. £284.8781. Unrestricfrd reserves w8r8 £90,785 (2019."
£73.286).
RESERVES POLICY
It 15 the policy of the Truste85 to hold a Sum in free reseNes suffictent to enable the charity to fulfil its pollcy of
providlng loans and grants to institutions and indNiduals. The unrestricted free reserves at the end of the year
stood at £90,78512020'. £73.2861. The Trustees consider the current level of reserves Is adequate.
MATERIAL INVESTMENTS POUCY
The Trustees continued their Investment Policy during the y8ar as follo￿.
To continue to use CCLA Management Ltd to manage their investment portfolio.
To keep surplus liquid funds on short lemi deposlt.
To move towards holding longer term investments at the followiro leve]s.'
Irwestment Fund (60%)
Property FurKI {301/ID)
F￿ed Interest Fund (100/0)
Page 3

THE APPLETON TRUST
TRUSTEES. REPORT {contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2021
FUTURE DEVELOPMENTS
The Trustees will conllnue lo b& alert lo opportunlties lo support the mlssion and ministry of the Church of
England in the Diocese of Canlerbury, In accordance wllh the objects of the Trust
TRUSTEES. RESPONSIBILITIES STATEMENT
Th& TrLfStees ar8 r8sponslbl6 for pr8parlng th& Trusteés, report and the financial slalements in accordance with
8ppllcable law 8nd Unlled Kingdom Accounting Siand8rds {Uniled Kingdom Generally Ac¢epled Accounting
Practlc8>.
Th8 law applicable lo charities In England and Wales requtres the Trustees to Prepa￿ financial statements for
each financi81 year which give a true and fair vlew of the stale of affair5 of the charity and of the incoming
resources and application of resources of the charity for that period. In preparing these financial slalemenls. the
Truste88 are requ*ed to..
select sullable accounllng pollcles and then apply Ihern conslslBntly-
observe the methods and prlnclpl08 In the Charllles SORP.,
mak6 judgments and accounllng esllmales that arg reasonable and prudent:
prépare the flnanclal slal8ments on the golng concern bas18 unl8ss It Is Inapproprlate to presume that Ihe
charlly wlll conllnue In operatlon.
The Trustees ar8 r88ponslble for ke8plng proper accounllng records that ar8 sufficiènt lo show and explaln the
Iransacllons and disclosé wllh reasonable accuracy al any Ilme the flnan¢lal posllion of the ch8rlly and
ènable them to ensure that the flnanclal statements comply wkh the Charllles Act 2011, the CharSty (Accounts
and Reports) Regulatlons 20D8 and the provlsions of th& trust deed. They are also responsible for safeguarding
the 8ssets of the charlty and henc& for laklng reasonable sl&ps for Ihe prevonlion and dgloclion of fraud and
othèr Irregularftlos.
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
Each of the porsons who are Trustee8 al the tlme when thls Trusle88' report Is approved has corfflrmed that:
80 far as that Trustee is aware, there 15 relevant information of which the charity's independent
examlner Is unaware, and
the Trustee has tsken all the steps that Dughl to have been taken as Trustee tn order to be aware of any
relevant Information and to establish that the charity's ind8p8ndent 6xamin8r is aware of that information.
Thls report was approved by the Truslee on .
. and signed by,.
l D Blythe
Trustee
Page 4

THE APPLETON TRUST
INDEPENDENT EXAMINER'S REPORT FOR
THE YEAR ENDED 31 DECEMBER 2021
Independent Examlnerfs Report to the Trustees of The Appleton Trust
I reFNNi lo the charity trustee5 on my examination of the xcounis of the charity for the year ended 31 December
2021 which are set out on pages 7 to 15.
Responsibllltles and basls ot report
As the Charity's trustees you are responsit4e for the Wepara1K￿ r)f the xcounls in accordance with th8
requirements of the C￿rItIeS Act 2011 (Ihe ACV).
I report in respect of my examination of the ¢hariVs a¢¢ounts carried wt under section 145 of the 2011 Act and in
arying out my examination I have follcywed all the appliCa￿e Dtrections gNen by the Charity Commission under
section 145(5Xb) of the Act.
Independent examlnefs statement
I have completed my ex8mirotion. I confirn that rK) materral matters have ￿me to my attentlon In ¢J)nnection with
the examination giving me cause to believ8 that in any material resFect'.
a¢xounting remrd5 W8re rK)t kept in respect of ihe charity as required by section 130 of the Act", or
2. the accounts do ￿t acTr)rd those recorts:
3. the accounts do ￿t comply with the appliCa￿e r4utrements con¢ernir*J the form and corrtent of accounts
set out in the Charities (Accounts atKI Reports) Regulations 2008 other than any requirement that the
accounts gNe a Irue and fatr VI￿, which a matter considerwj as part of an Independent
examination.
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 to enab￿ a proper underslanthng of the accounts to be reached.
This report is made solely to the charivs Trustees. as a Imjdy. in ￿0)rdance with section 145 of the Charities Act
2011 and regulations made under section 154 of that ACL My work h8s been undertaken so that I might slate lo the
charity's Trustees those matters l am required to stale to U￿M in an Independent Examiner's Report and for no
olher purpose. To the fijllest extent pemiitted by law. I do not accept ￿ assume reSt￿￿si￿11ty to anyone other than
the charity and the charitys Trustees as a trm￿. for my wcfk or for this reporL
Page 5

THE APPLETON TRUST
Signed:
S M Rouse FCCA DChA
Kreston Reeves LLP
37 Sl Margarets Street
Canterbury
CT12TU
Dale: 30 August 2024
Page 6

THe APPLETON TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
Unrestrlcted
funds
2021
Endowmen1
fund8
2021
Total
funds
2021
Total
funds
2020
Nots
INCOME AND ENDOWMENTS FROM:
Charitable 8Ctrvities
Investments
3,275
32,2SI
3,275
32,257
32,574
TOTAL INCOME AND ENDOWMENTS
36.532
35,532
32.808
EXPENDITUREON:
Ch8rit8ble acllvllies
18,033
18,033
12,835
TOTAL EXPENDITURE
18,033
18,033
12.835
NET INCOME I {EXPENDITUREI BEFORE
INVESTMENT GAINS
Nel {105sesygaln8 on Inv8Stm8nt8
17A99
17,499
124,398
19,773
62.562
124,398
NEf INCOMEIIDEFICIT) FOR THE YEAR
17,499
124,398
141,897
82,335
NET MOVEMeNT IN FUNDS
17.499
124398
141,897
82,335
RECONCILIATION OF FUNDS:
Total fund8 brought forward
TOTAL FUNDS CARRIED FORWARD
73,286
840,789
919,065 838,720
90,786
970,187 1,060,952 919.055
All aGtivllle8 relate to contlnulng operatlons.
The notes on paw 9 10 15 forni part of these financlal statements.
Page 7

THE APPLETON TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2Q20
Note
FIXED ASSETS
Investments
1,235,048
1,110.650
CURRENT ASSETS
Debtors
Cash al bank and in hand
130,982
107,482
130,982
107,482
CREDITORS- arnounts falling du8
within one year
(305.078)
(299.077)
NET CURRENT LIABILITIES
(174096)
{191.5gs1
NET ASSETS
1.060,952
919.055
CHARITY FUNDS
Unrestricted funds
Endomnent funds
10
10
90,785
970.167
73.286
845.769
TOTAL FUNDS
1,060,952
919.055
The financial ststements were approved by the Trustee
. and signed by-
l D Blythe
Trustee
The notes on pages 9 10 15 forni part of these financial ststements.
Page 8

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
GENERAL INFORMATION
The Appleton Trust15 an unlncDrporal8d Trust reglstered In England and Wales ￿th the Charty
Cofflmission. The Gharity registration number is 250271.
The charity's principal offlce Is Canterbury Dloc8san Board of FSnance, Dlocesan Hous8, Lady Wootton's
Green, Canlerbury, CT1 1NQ.
ACCOUNTING POUCIES
2.1 B8818 of preparatlon of tlnanGlal ¥tatfrments
Basls of p￿paratIOn- The financial statements have been prepared In accordance wlth tha Charllles SORP
(FRS 1021 kGounling and Reporting by Charllth.. Statement of Recommended Pracllce appllcable to
chariknes preparing their accounts In accordance wlth the Flnanclal Reportlng Standard appllcabl8 In the UK
and Republic of Ireland IFRS 102) {effectlv8 1 January 2019), th8 Flnanclal R8porting Standard applicablè
In t￿ UK and Republlc of Ireland {FRS 1021 and th8 Companiés Act 2006.
The Appleton Trust conslllutes a publlc benefll anllty as defined by FRS 102.
The charity'8 funcllonal and presenlallonal curr6n¢y18 Poundg Sledlng.
Th6 charfty's fln8nclal stalemenls are presented to the nearest pound.
2.2 Fund accountlng
General funds are unreslrlcted fvnds whl¢h are avallable for use at Ihe dl$crellon of the Truslees In
furtherance of the general oblecuves of the charlty and whlch have not b8&n d88lgnal8d for other
purposes.
Inve8lmenl Income, galns and losses ar8 allocatèd to thè 8pproprlat8 fund.
13 Incomo
Al Income is recognised ￿c8 th8 charity ha5 enlillèmenl to the Income, It Is probable that the
InGome will be rec81V8d and the amount of Income ￿CeIVable can bo measured rollably.
2.4 Expondlturg
Expendllure Is recognised onGe ther8 is a legal or constnjctfve obligation to transfer economlc
benefit lo a third party, 11 is probable that a transfer of economic benefits wlll be requI￿d Sn
settlement and th8 amount of the obllgallon can be measured rellably. Expendliuw Is classlfled by
activity.
Grants payable are ch￿ged In th& year when the offer is made except in those ca8es where the
offer is conditional. such grants being recognised as expendilure when the conditions attaching are
fulfilled. Grants offered subject lo conditions which have not b88n mel at the year end are noted as a
carnmilment, but not accrued as expenditure.
Page 9

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES (contlnued)
2.5 Investments
Listed investments ar8 a form of financial instrument and are initially ￿cOgnised at their transaction
cost and subs&quently measured al fair value at the balance Sheet date using the closing quoted
market price. Investment gains and losses, whether realised or unrealised. are combined arKi shown
in the heading Nel Ilossesllgains on investmenls. in Ihe Slatement of Fina￿la1 Activities.
2.6 Interest recelvable
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the charity,. this is normally upon nDlification of the interest paid or payable by the Bank.
2.7 Dgbtors
Trade and other debtors are recognised at the settlement amount after any trade discount off8red.
Prepayments are valued at the amount prepaid n8t of any trad8 discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand Sncludes Cash and short term highly liquid investments with a short
maturity of fvee months or less from the date of awui5ilion or opening of the dewsit or similar
account.
2.9 Creditors
Liabilities are recognised wheri ther8 is an obligation at the balance sheet date as a result of a past
8venL it is probable that a transfer of ecommi¢ benefit wlll be required in settlement, arKI the
amount of the settlement can be estimated rellably. Liabililies are recognised at the amount that the
charity anticipates il will pay to setue the debt or the alnounl il has received as advanced payments
for the goods or servlce$11 must provide. Provisions are measured at the best estimate of the arr￿nts
required lo settIe the obligation. Where the effect of the time value of money ts material, the provislon
is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects
the risks specific to Ihe liability. The unwinding of the discount Is recognised within interest payable
and Similar charg8s.
2.10 Flnanclal Instruments
The charity only has financial assets ané flnanclal liabilities of a kind that qualrfy as basio flnancial
irtstruments. Basic fina[￿la1 instrument5 are initially recognised al transaction value and
subsequently measured at their selllemenl value.
2.11 Golng Concem
The Trustees are of the opinion that the Charity has adequate r&sources to continu? in operational
existen￿ for the foreseeable future and thore are not material uncertainti8s regarding the Charity's
ability lo do so.
Page 10

TPtE APPLETON TRUST
INCOIAE FROM CHARrrABLE ACTIVITIES
Unr8Strlctad Endowment
funds
Funds
2021
2021
Total
funds
2021
Total
funds
2020
Charltable actIvltles
3,275
3,276
In 2020, of the lolal Income from ch8rit8ble activities, £34 was lo unrestricted funds.
Page 11

THE APPLETON TRUST
NOTES ro THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
INVESTMENT INCOME
Unrastrlctèd Endowment
Fund
Fund
2021
2021
Total
fund
2021
Totsl
funds
2020
Investment Incom& - Ilsted
Investment incorne- Gash
32.223
34
32,223
32,384
190
32,257
32.257
32,574
In 2020, of the loial Investment Income, £32,574 was lo unreslricled funds.
ANALYSIS OF EXPENDrruRE ON CHARITABLE ACTIVITIES
2021
2020
Coun5elllng fee8 and expenses
Grants
Expendlture on govemance
9,938
730
7.385
9,922
103
2,810
18.033
12,835
The grants were as follow6:
2021
Number
2021
2020
Number
202C
Together Kent
Individuals
730
730
10q
Page 12

THE ApPL￿ON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
FIXED ASSEf INVESTMEKrs
Llstèd
securtties
Market value
Al 1 January 2021
Revaluations
1,110,650
124,398
At 31 De¢¢mbor 2021
1,235,048
Inve3lment8 at market v*ue ￿mPrIse.
2021
2020
Usled Investments
1,235.048
1,110,650
I the flxed assat investments are hdd in the UK In Centrat Board of FlnaKe fvrKls managed by CCLA
Inv88tmenl Management Llmw.
Materfd Investments
31 Dec•mber
2021
3108cember
2020
CBF Investment Fur
CBF Property Fund
CBF Fixed Interest Securities Fund
1.059,864
22,724
152A60
926,286
20,411
183,953
1.235,IM8
1.110.650
DEBTORS
2021
2020
debtors
CREDrroRS". Amounts falllng du• wlthln on• year
2021
2020
Grant commitmerts
Other creditors
284,878
20,200
30&078
284,878
14.199
299.077
Page 13

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
RELATED PARTY TrANSACTIONS
2021
2020
Management charg8 due to Cant8rbury Diocesan Board of Finance
2,800
2,750
In 2017. a yant lotaling £300.000 was awarded lo Ihe Cantarbury Dlocesan Board of Finance to help
them achleve their strategic goa15. At the year end, the amount due lo the Canterbury Olocesan Board
of Finance was £284.87812020.' £284,878}.
No Trustees received remuneration in respect of the year ended 31 December 2021 (2020: £Nil) and no
Trustee8 were reimbur8ed expenses In respecl of th& year erKled 31 December 2021 {2020.' £Nil).
There w8re no other related party tran$acllons In the year ended 31 December 2021 (2020: £NIII.
10. STATEMENT OF FUNDS
Brought
Forward
Galnsl
ILos8a8)
Carrled
Forward
Incoma
Expgndlture
Unrestricted funds
General FundB- all funds
73,286
35,532
(18,033)
90,78S
Endowment funds
Endowment Funds - all fund8
845,769
124,398
970,167
Total funds
919,OS6
36,632
(18,0331
124,398
1,060,952
Unrestrlcted 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 of funds
83fj720
32,608
(12,835)
62,562
919,055
Page 14

THE APPLETON TRUST
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Endowment
funds
funds
2021
2021
Total
funds
2021
2021
Flxed asset invéstments
Current assets
Creditors due wllhin on8 year
1,235,048
110,985
19,997
(20,2001 (284,87B)
1,235,048
130,982
1305,0781
90.785
970,167
1,060,952
Unrastrlcted Endowment
funds
funds
2020
2020
Total
funds
2020
Flxed asset Investments
Current a55els
Credltors due wlthln one year
1.11 D,650
87,485
19,997
(14,1991 (284,8781
1,110,650
107,482
(299,077
73,286
845,769
919,055
Page 15