Charity numbgr. 250271
THE APPLETON TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

THE APPLETON TRUST
CONTENTS
Page
Reference and admlnistrative details of the charity. ils trustees and advl$ers
Trustees, report
Independent examineffs report
Statement of financial acttvltles
Balance sheet
Notes to the financial statement5
9-15

THE APPLETON TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI￿. ITS TRUSTEES AND AD￿SERS
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
The reverend S Taylor
l D Blylhe. Chalr (appolnted 26 June 2024)
O P Garratt (appointed 26 June 2024)
Charity regislered numb8r
260271
Prlnclpalofflce
Dlocesan House
Lady WoDtlon's Green
Canterbury
Kent
CT1 1NQ
Accountants
Kr8Ston Reeves LLP
Chartered Accountants
37 Sl Margaret's Slwel
Canterbury
Kent
CT12TU
Bankers
Lloyds Bank plc
49 HSgh Street
Canterbury
Kent
CT12SE
Page I

THE APPLETON TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report togetherwilh the financial statements of The Appleton Trust {Ihe charity)
for the year ended 31 December 2022. The Trustees confirm that the annual report and financial statements of
the charity comply with th8 curr8nt slatulory requirements, the requirements of the charity's governing document
and the provisions of the Statement of Recommended Practice ISORPI applicable lo charf(ies preparing their
accounts in accordance with the Financial Repcrfting Standard applicable in the UK and Republic of Ireland
{FRS1021 leffeclive 1 January 2019)-
str￿tUre, governance and management
CONSTITUTION
The Charitable Twsl, establlsh¥Yl by Hugh Thoma5 Appleton. is conslituled by a Trust Deed dated 4 October
1966 is a registered charity number 2502T1.
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The Tnanagement of the charfty 15 th8 responslblllty of the Truslees who 8re elected and co-opted under Ihe
terms of the Trust Deed.
Of the Trustees on poge 1, S Taylor served as Managing Truste8 throughout the year. Appolntmenl of Trustees
is governed by the Trust Deed of the charity. The Trust Deed appointed the Canterbury Diocesan Board of Flnance
(the Board) as Custodian Trustee, lo hold the Trust Fund in perpetuity, and the Chairman, Treasurer and
Secretary of the Board a5 Managing Trustees. The office of the Treasurer is no longer used by the Board and,
therefore. a Scheme amending the Trust Deed was 8greed by the Charity Commisslon allowing the Archblshop's
Council lo appoint a Trustee in p18ce of the Treasurer.
RISK MANAGEMENT
The Trustees have considered the risks in making loans available in accordance with the Trusvs objectives, and
viewthe possibility of default In repaylng these loans to be mlnlmal.
The Trustees will ensure that the level of Invested capital wll nol reduce below the odglnai endowment of
£150,000.
Objectivgs and Actlvltles
POLICIES AND OBJECTIVES
The principal object of the 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 poliw of the Charitable Trusl continue5 to be to provide grants to institutions aTKI indNiduals principally
associated with the Diocese of Canterbury that meet the oblecls of the charity and especially those connected
with the Church who are facing hardship and where other assistance is either unavailable or insufficient. The
Trust also offers loans lo the clergy, parishes and lay workers of the Diocese of Canterbury mainly to 8SSiSt In
the purchase of Gars and Gompulerg]uipment.
Page 2

THE APPLEfoN TRUST
TRUSTEES. REPORT (contlnued)
FOR THE YEAR ENDED 310ECEMBER 2022
MAIN ACTMTIES UNDERTAKEN TO FURTHER THE CHARirrs PURPOSES FOR PU8UC BENEFIT
The maln actlvilies are set out in the review of actIv￿leS below. The Trustees have considered the Charity
Commi88ion'3 guidance on publio ben8fiL includlng the guidance 'public benefft: running a charity (PB2)'.
Achièvemgnts and performance
GOING CONCERN
The Trustees are of the opinion that th8 Charity has adequate resources lo conJnue in operational existence for
the foreseeable future and there are no material uncertalnlles ￿gardIng the Charity's ability to do so.
REVIEW OF ACTIVITIES
This year. O grants (2021.- 11 w8re awarded to institutions and individuals, therefore the arnC￿nt granted was £0
(2021.. £730). The Trustees provid8 car loans to licensed workers within Ihe Diocese and computer loans to
Diocesan staff. although this facility is little used at present. The Truslees also provlde loans to individuals facing
hardshlp In accordanc8 With th8 Trust's grant maktng poll¢y. The total reserves of the trust decreased by £127,059
In the year (2021.. ￿41.89T increase).
Financial revlew
FINANCIAL POSIMON AT YEAR END .
Al 31 December 2022 the charity has net assets of£933,89312021.'£1,060,9521. Endowment reseTves of£822.659
12021.. £970.167) consisted of investments of £1,087.539 (2021.. £1.235,0481, Cash of £19,998 (2021.. £19.99n
and unpald grant commitments of £284,878 12021.. £284.878). Unrestricted reseNes were £111,234 {2021.'
£90. 785).
RESERVES POLICY
11 is the polioy of the Trustees to hc4d a sum in free reserv￿ suffici8nt to 8nabl8 the charity to fulfil its poliw of
providing loans and grants to institution5 and individuals. The unrestricted free reserves at the end of the year
stood at £111,234 (2021= £90,785)- Th8 Trustees consider the C￿r￿n1 level of reserves is wjequate.
MATERIAL INVESTMENTS POUCY
The Truslees contSnued their Investment Policy durlng the yew as folh)ws:
To continue lo use CCLA Management Ltd io manage Iheir investment portFollo.
To keep surplus liquid funds on short tem) deposit.
To move towards holding longer term Investments at the following levels..
Investment Fund (60%)
Propety Fund1300A)
Fixed Interest Fund11a%)
Pa8e 3

THE APPLETON TRUST
TRUSTEES. REPORT Icontinu•d}
FOR THE YEAR ENDED 31 DECEMBER 2022
FUTURE DEVELOPMENTS
The Trustees will continue to be alert lo opportunities to support the mission and ministy of the Church of
England In the Dloces8 of Canlerbury, In accordance wllh the oblecls of th& Trust.
TRUSTEES. RESPONS181LITIES STATEMENT
The Trustees are responslble for preparlng the Trustees, ￿port and the financi8151atements in accordance with
appllcable law and United Kingdom Accounting Standards (United Kingdom Gener211y Accepted Accounttng
Practice),
The law applicable to Gharftles In England and Wa18s requlres th8 Trust88s to pr8par8 ftnanclal statements for
each finanGi81 ye8r whlGh give a true and falr vlew of th8 51at8 of affalrs of the charity and of the Incomlng
resources and applicalion of resources of the charlty for that period. In preparlng these ftnanclal slatem8nts. the
Tru81ees a￿ requlred to..
select 8ultablg accounting pollcles and then apply them conslslenlly.,
observe the method8 and prlncipjes in the Charlues SORP;
make fvdgmenl8 and accounlSng es15mal8s that ara reasonable and pnjdent.,
prepare the flDanclal slalement8 on the 9)ing cOr￿er￿ basis unl838 11 Ss Inapproprlale lo presumé that thè
charity wlll contlnue in operallon.
The Trusteès are responslble for keeplng proper accounllng reoL)rds Ihal are sufficient lo show and explaln the
charlty's transactions and disclose wllh reasonable accuracy al any IiTne Ihe fin¥nGial po¥ilion of Ihe Gharlly and
anable them lo ensure that the finan¢lal stalements Gomply wllh the Charities AGI 2011. the Charlty IAccounl8
and Report8) Regulallons 2008 and the provision5 of the iru5t deed. They are 81so responsible for safeguardlng
the assets of the charity and hence for taking re8sonable Steps for the preventlon and deleGlion of fraud ar
olher irregularillos.
DISCLOSURE OF INFORMATION TO INOEPENDENT EXAMINER
Each of the persons who are Truste•$ at the time whèn thls Trustees, report 18 approv6d has Confirmed that:
50 far as that Trustee 15 aware, ther8 Is no relevant Informatlon of whlch thè charity's independént
examlnerlg unaware. and
the Trustee has taken all the Steps that ought lo have b88n taken as Truste8 in ordèr to b8 awar8 of any
relevant inforniatlon and to establish that the charity's independonl examiner is awaro of that information.
Thts report was approved by the Trustea on
and Signed by:
i D Blythe
Trustee
Page 4

THE APPLETON TRUST
INDEPENDENT EXAMINER'S REPORT FOR
THE YEAR ENDED 31 DECEMBER 2022
Independent Examinerfs Report to the Trustees of The Appleton Trust
I ￿pOrt to the charlty trustees on my examination of the accounts of the charty for the year ended 31
December 2022 whith are set out on pages 7 10 15.
Responslblllties and basls of report
As the charity's trustees you are responsible for th8 preparation of the accounts In accordance with the
requirements of the Charities 2011 {'Ihe ACV).
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011
Act and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515)(b) of the Act.
Independent gxamlnetrs statement
I have completed my examination. I confimi that no material matters hav8 Corn8 to my attention in
connection with the examlnatlon glvlng me cause to believe that in ary material respect:
accountiThJ records were not kept in respect of the charity as requir8d by sectlon 130 of the Act,. or
2. the aGcounts do not accord with those records," or
3. the accounts do not comply with the applicable requirements con￿mIng the fomi arml content of
accounts set out in the char￿eS (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair view. which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters in connection wlth the examination to ￿lch
attention should be drawn in thls report in order lo enable a proper understandlng of the accounts to be
reached.
This report is made solely to the charity's Trusl8es. as a body. In accordance with section 145 of the
Charities Act 2011 and regulations made under sectlon 154 of that Act. My work has been urKlertaken so
that I might state to the charivs Trustees thoso matters l am required to state lo them in an Independent
Examinerfs Report and for no olher PUTpose. To the fullest extent permltted by law. I do not accept or
assume responslbility to anyone other than the charlty and the charsvs Trustees a5 a t¥)dy. for my work or
for thls rep*xt.
Page 5

THE APPLETON TRUST
Signed..
S M Rouse FCGA DChA
Kr8ston Reeves LLP
37 Sl Margaréls Street
Canterbury
CT12TU
Date: 30 August 2024
Page 6

THE APPLETON TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestrlcted
funds
2022
Endowmenl
funds
2022
Total
funds
2022
Total
funds
2021
Note
INCOME AND ENDOWMENTS FROM:
Charitable activit￿S
Investments
3.275
32.257
32,894
32.894
TOTAL INCOME AND ENDOWMENTS
32,894
32,894
35,532
EXPENDITURE ON..
Charllable aclfvltles
12,445
12,445
18,033
TOTAL EXPENOITURE
12,445
12,•MS
18.033
NET INCOME I (EXPENDITURE) BEFORE
INVESTMENT GAINS
Nel IIOs8esygaln8 on Investments
20,449
20,449
17,499
(147,608) (147,508) 124,398
NET INCOMEI(DEFICIT) FOR THE YEAR
20,449
1147,508> (127,059) 141,897
NET MOVEMENT IN FUNDS
20,449
1147,508) (127,059) 141.897
RECONCILIATION OF FUNDS:
Total fund8 brought forward
TOTAL FUNDS CARRIED FORWARD
90,785
970,167 1,oeo,952
919.055
111,234
822,659
933,893 1,060,952
All a¢t6vities relate to conllnuing operalions.
The notes on pages 9 to 15 form part of these financial statements.
Page 7

THE APPLETON TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Nole
FIXED ASSETS
Investments
1,087,539
1,235,048
CURRENT ASSETS
Debtors
Cash at bank and in hand
155,362
130.982
155.362
130,982
CREDITORS- amounts falling due
within one year
(309.008)
(305.078)
NET CURRENT LIABILrriES
(153,646)
(174,096)
NET ASSETS
933.893
1.060,952
CHARITY FUNDS
Unrestricted funds
Endowment funds
10
10
111234
822.659
90.785
970.167
TOTAL FUNDS
933,893
1.060,952
The financial Statements wer8 approved by th8 Trust88
. and signed by:
l D Blythe
Trustee
The notes on pages 9 to 15 fomi part of these financial statements.
Page 8

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
GENERAL INFORMATION
The Appleton Trust is an UnInc￿ed Trust reglstered In Eroland and Wales with the Charty
Commission. The charity rogistralion number is 250271.
The charity's prlnclpal offic6 is Canterbury Diocesan Board of Finance, Dlocesan Pkyjse, Lady Wootton.
Green, Canterbury. CT1 1 NQ.
AcCOuP￿ING POLICIES
2.1 Basis of preparatlon of flnancial statements
Basis of preparation: The financlal slalements have been prepared in accordanG8 With th8 Chartties SORP
(FRS 1021- Acccwjnting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK
and Republic of I￿land IFRS 102} {effeclive 1 January 2019). the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
The Appleton Trust consliknles a putAic be￿1 entity 88 defined by FRS 102.
The charity's functional and preserrtational currency is Pounds Sterllng.
The charivs financial statements ar8 pr888nled to the nearest pound.
2.2 Fund accountlng
General funds are unr8Stricted funds which are available for use at the discretion of the Trustees in
fijrtherance of the general. objectives of the Charfty and which have not been designated for other
purposes.
Investment income. gains and losses are allocated to the approprlate fund.
2.3 In¢omo
All hcome is recognised On￿ the charity has entitlement to the ir￿me, li is probab18 that th8
income will be received and the amcyjnt of income receivable can be measured roliably.
2.4 Ex[￿ditUre
xpendilure is recogntsed once there Is a legal or o)nslruGlive obligation to transfer economic
benefit lo a third party, it is probable that a transfer of econoTlliC benefits will be required In
Setuement and the amount of the obligation can be m8asur8d reliably. Exp8ndllure is classified by
activity.
Grants payable are charged in th6 year when the offer is made except li those cases where the
offer is conditional, such grants being recognised as expend￿Ure when the condltions attaching are
fulfilled. Grants offered subject to condlllons which have not been met at the year end are noted as a
commitment. bLrt nol accrued as expenditure.
Page 9

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER2022
ACCOUNTING POLICIES (Gontinued)
2.5 Invostmgnts
Llsted investmenls are a form of financial instrument and are initially recognised at their transaction
cost and subsequently measured al fair value at the balance sheet dale using the closing quoted
market price. Inve51menl gains and losses, whether reallsed or unrealised, ar8 combin8d and shown
In the heading 'Nel110ssesllgains on investmen15' in the Statement of FinanGial AGtivities.
2.6 Intergst rgcelvable
Interest on funds held on deposit is induded when receivable and the amount can be meaSU￿d
reliably by the charity- this is normally upon nolificalion of the interest paid or payable by the Bank.
2.7 Debtors
Trad@ and other debtors are recognised al the settlement amount after any trade dlscounl offered.
Prepayments are v81ued at the amount prepald net of any trade discounts du8.
2A Cash at bank and In hand
Cash at bank and In hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.9 Credltors
Llabilllles are reGognlsed wh&n there is an obligation at the balance sheèt dale as a result of a past
event, il is probable that a transfer of economic benefit will be required in selllement, and the
amount of the selllemenl can be estimated reliably. Liabilities are recognised at the amount that the
charity anlicipales it will pay to settle the debt or the amount it has received as advanced payments
for the goods or services it must provKle. Provisions are measured at the best estimate of the amounts
required to setue the obligatitsn. Where the effect of the lime value of rnoney is material, the provision
is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects
the risks specific to th? liability. The urbwinding of the discount is recognised withln inter8sl payable
and slmilar charges.
2.10 Financial instruments
Th charity only has financial assets and fina￿[al liabilities of a kind that qualify as basic financlaj
instruments. Basio financial inslrumenls are initially recognised at transaction value aTh
subsequently measured at thelr settlement value.
2.11 Going Concern
The Trustees are of the opinion that the Charity has adequate resources to cOnt￿Ue in operational
existence for the foreseeable future and there are not malerlal uncertainli88 regarding the Charty's
abllity to do so.
Page 10

THE APPLETON TRUST
INCOME FROM CHARITABLE ACTIVITIES
Unrostrlcted Endowmont
funds
Funds
2022
2022
Total
funds
2022
Total
funds
2021
Charitable aclivittes
3.275
In 2021, of the lolal Incom8 from charltable acllvilles, £3,276 was lo unrestrlcted funds.
Page 11

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2022
INVESTMENTINCOME
Unrostrlcted Endowment
Fund
Fund
2022
2022
Total
fund
2022
Total
funds
2021
Investment Ir￿m8 Ilsted
Investment income- cash
32,667
227
32.687
227
32,223
34
32,894
32.894
32.257
In 2021. of the total Investrnenl Income, £32.257 was to l￿reStrICted fund8.
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
2022
2021
Counselllng f88s and 8xp8nses
Grant8
Expondllure on governance
7,995
9,938
730
7,385
4450
12.445
18,033
Thè grants were as followB:
2022
Number
2022
2021
Number
2021
Together Kent
Ind￿IdUal5
73C
73C
Page 12

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FtXED AssEf INVESTMENTS
Listed
securitl8S
Mafkét valuo
Al 1 January 2022
Revaluations
1,235,048
(147.508)
At 31 December 2022
1,087,539
Investments at market value GOTnprts8:
2022
2021
Llsted Investments
1,087,539
1,235.048
All the flxod ass6t Investments are held In the UK Sn Central Board of Flnance funds managed by CCLA
Inve8tment Management Llmlted.
Material Inve8tment8
31 Decomb•r
2022
31 December
2021
CBF Inv88tmenl Fund
CBF Property FurKI
CBF Flxed Interest SeGurllle5 Fund
935,653
20,058
131,828
1,059,864
22.724
152,460
1,087.639
1.236,048
DEBTORS
2022
2021
Other d&blors
CREDITORS: Amounts falllng due wlthln one year
2022
2021
Grant commltments
Other creditors
284,878
24,130
309.008
284,878
20,200
305,078
Page 13

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
RELATED PARTY TRANSACTIONS
21)22
2021
Management tharge due lo Canterbury Dlocesan Board of Finance
2,800
In 2017, a grant lotaling £300,000 was awarded lo the Canterbury Diocesan Board of Flnance to help
them achieve their strategic goals. Al the year end, the anThJunt due to the Canterbury Diocesan Board
of Finance was £284,87812021: £284,878).
No trustees received remuneration in respect of the year ended 31 December 202212021: £Nill and no
Trustees were reimbursed expenses in respect of the year ended 31 December 2022
2021.. £Nil).
There were no other related paty transacllon In the year ended 31 December 202212
21: £Nill.
10. STATEMENT OF FUNDS
Brought
Forward
Gainsl
(Losses)
Carried
Forward
Income Expenditure
2022
Unrestrfcted funds
General Funds- all funds
).785
32.894
(12,445)
111,234
Endowment funds
Endowment Funds - all fijnds
970,167
1147,508)
822,659
Total funds
1,080,952
32,894
{12N45> 1147,50B)
933,893
2021
Unrestrlcled funds
General Funds- all funds
73,286
35,532
118,033)
90.785
Endowment funds
Endowment Funds- all funds
84&769
124398
970,167
Totsl of funds
919.055
35,532
(18,033)
124,398
1,060,952
Page 14

THE APPLETON TRUST
11. ANALYSIS OF NET ASSEfs BETWEEN FUNDS
Unrestrlcted Endowment
fund8
funds
2022
2022
Total
fundg
2022
2022
Flxed asset Investsnenls
Current assets
Creditors due within one ye
1,087,539
135,364
19.998
(24,130) 12W878)
1,087.539
155,362
1309.008)
111,234
822,859
933,893
UnrostrlGtod Endowment
funds
funds
2021
2021
Total
fund8
2021
2021
Flxed asset inv88lmenl8
Current assets
Credllors due wllhln one year
1,235,048
1,235,048
110.985
19,997
130,982
(20,200) (284,8781 {305,078)
90,785
970,167
1,060,952
Page 15