Charfty number: 2502T1
THE APPLETON TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ThE APPLEfoN TRUST
CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers
Trustaes, report
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes lo the financlal statements
9-15

THE APPLETON TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
The reverend S Taylor (retired 28 November 2024)
l D Blythe. Chair (appointed 26 June 2024)
O P Garratt (appointed 26 June 2024)
Charlty registered number
250271
Principal office
Diocesarn House
Lady Wootton's Green
Canterbury
Kent
CT1 1NQ
Independent Examiner
S M Rouse
Kraston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
Bankers
Lloyds Bank pl
49 High Street
Canterbury
Kent
CT1 2SE
Page I

THE APPLETON TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Tnjstees present their annual report together with the financial statements of The Appleton Trust {Ihe charity)
for the year ended 31 December 2024. The Trustees confirm that the annual report and financial statements of
the charity comply wth the currènt stalulory requirements, the requirements of the charity's governing document
and thè provisions of the Slalement of Recommenéed Practice ISORPI applicable lo charities preparing their
actounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) {effeclive 1 January 2019}.
Structur•. governance and management
CONSTITUTION
The Charitable Trust. established by Hugh Thomas Appleton, is constituted by 2 Trust Deed dated 4 October
1956 and is a registered charity number 250271.
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust Deed.
Of the Trustees on page 1, Stephen Taylor served as Managing Trustee up to November. lain Blythe and Orla
Garratt were appointed in June and served for the remainer of the year with lain Blythe acting as a Managing
Trustee. Appointment of Trustees Is govemed by the Trust Deed of the Gharity. The Trust Deed appointed the
Canterbury Diocesan Board of Finance {Ihe Board) as Cust(NYian Trustee. lo hold the Trust 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 Dèed was agreed by the Charity
Commission allowing the Archbishop's Council to appoint a Trustee In place of the Treasurer.
RISK MANAGEMENT
The Trustees have considered the risks in making loans available in accordance with the Trust's objectives and
viewthe possibility of default in repaying these loans lo be minimal.
The Trustees will ensure that the level of invested capital will not reduce below the original endowment of
£150.000.
Objecti￿S 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 policy of the Charitable Trust continu8S to be to provide grants lo Inststutions and Individuals prindpally
associated with the Diocese of Canterbury that meet the objettls of the charity and especially those connected
th the Church who are faclng hardship and where other assistance is eith8r 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 computerequipmenl.
Page 2

THE APPLETON TRUST
TRUSTEES. REPORT l¢ontinu•dl
FOR THE YEAR ENDED 31 DECEMBER 2024
MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARirrs PURPOSES FOR PUBLIC BENEFrr
The main activities are sel out in the review of activities below. The Trustees have considered the Charity
Commission's guidance on public benefit, including the guidan￿ "public benefit.- running a charity (PB21"
Achievemonts and performance
GOING CONCERN
The Tru51ees are of the opinion that the Charity has adequate resources lo continue In operational existence for
the foreseeable future and thore are no matertal uncertainties regarding the Charity's ability lo do so.
REVIEW OF ACTIVITIES
This year. 1 grant (2023.. 2} was awarded lo CDBF to fund a subscription lo Church Grants, the amount granted
was £4,800 (2023.. £2.0501. The Trustees provide car loans lo licensed workers within the Diocese and computer
loans to Diocesan staff. although this facility is little used at present. The Trustees also wovide loans lo individuals
facing hardship in accordance with the Trust's grant making policy. The total reserves of the trust increased by
£39.021 in the year12022.- £113,308 increase).
Flnanclal review
FINANCIAL POSITION AT YEAR END
At 31 December 2024 the charity hag net assets of £1,086,221 (2023.. £1,047,2001- Endowment reserves of
£946,14912023'. £918.37n conslsted of investments of £1,211,02912023.' £1, 183,25n, cash of £41.544 {2023.'
£42.2221 and unpaid grant ¢ommitrnenls of £161,130 (2023.. £166,799). Unrestricted reserves were £140,072
(2023.- £128,823).
RESERVES POLICY
It is the policy of the Trustees lo hold a sum In free rèseNes sufficient to enable the charity lo fulfil ils policy of
providing loans and grants to Institutions and individuals. The unrestricted free reserves at the end of the year
stood at £140,072 {2023= £128.823). The Trustees consider the current level of reserves is adequate.
MATERIAL INVESTMENTS POLICY
The Trustees continued their Investrnent Policy during the year as follows-
To continue to use CCLA Management Ltd to manage their investment portfolio.
To keep surplus liquid funds on short terrwy ¢Jeposit.
To move towards holding longer term investments al the following levets..
Investment Fund (600k)
Property Fund {300/0)
Fixed Interest Fund (10%)
Page 3

THE APPLETON TRUST
TRUSTEES. REPORT {¢ontlnued)
FOR THE YEAR ENDED 310ECEMBER 2024
FUTURE DEVELOPMENTS
The Trustees will continue to be alert lo opportuntties to support the mission and mintsty of the Church of
England in the Diocese of Canterbury. in aGcordance with the objects of the Trust.
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and Unrted Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting
Praclicel.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming
resources and application of resources of the charity for that period. In preparing these financial statements. the
Trustees are required to..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.
make judgments and accounting esllmales that are reasonable and prudent..
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the
harity will continue in operation.
The Trustees are responsible for ke8ping proper accounting records that are sufficient lo show and explain the
charity's Iransaclion5 and disclose with reasonable accuracy al any lime the financial position of the charity and
enable them lo ensure that the financial statements comply with the Charities Act 2011, th8 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 henc8 for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
Each of the persons who are Trustees al the Ilme when thls Trustees. report is approved has confirmed that:
so far as that Trustee is aware, there is no relevant information of which the charity's independent
examiner is unaware. and
the Trustee has taken all the steps that ought lo have been taken as Trustee in order lo be aware of any
relevant information and lo establish that the charity's independent examiner is aware of that informatw)n.
This report was approved bytheTruslee on..............................
and signed by-
l D Blythe
Trustee
Page 4

THE APPLETON TRUST
INDEPENDENT EXAMINER'S REPORT FOR
THE YEAR ENDED 31 DECEMBER 2024
Independent Examinor's Report to the Trustees of The Appleton Trust
I r8POrt to the charity Irustees on my examination of the accounts of the Gharity for the year ended 31
December 2024 which are set out on pages 7 to 15.
R•sponsibilities and basis of report
As the charity's trustees you are responsible for the preparation of th8 accounts in accordance with the
requirements of the Charities Act 2011 I'the Act')-
I report in respect of my examination of the Gharty's accounts carrled out under sectlon 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 145{SXb) of the Act.
Independent examlnor's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause lo belleve that in any material respect..
accounting rewrds were not kept in respect of the charity as required by section 130 of the Act" or
2. the accounts do not accord with those records.. or
3. the a¢￿u￿1$ do not comply with the applicable requirements concerning the form and content of
accounts sel out in the Charities (Awounls and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair view, whiGh is not a maller consi(lered as part ol an independent
examination.
I have no concerns and have come across no other mallers in connection with the examination to which
attention should be drawn in thlg report in order to enable a proper understanding of the accounts lo b&
reached.
This report 18 made solely lo the charity's Trustees. as a body, in accordance with section 145 of the
Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so
that I rn￿h1 stsle to the charity's Trustees those matters l am required to state lo them in an Independent
Examiner's Report and for no olher purpose. To th8 fullest extent permitted by law, I do not accept or
assume responsibility to anyone other than the charity arKI the charity'5 Trustees as a body, for my work
or tr this report.
Page 5

THE APPLEfoN TRUST
Signed: a 7n 2
S M Rouse FCCA DChA
Kreslon Reeveg LLP
37 St Margarets Street
Canterbury
CT12TU
Date.. 17 June 2025
Page 6

THE APPLETON TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Endowment
funds
2024
Total
fvnds
2024
Totsl
funds
2023
Note
INCOME AND ENDOWMENTS FROM:
haritable aclNlties
Investrn8nls
34.858
34.858
33.337
TOTAL INCOME AND ENDOWMENTS
34,858
34.858
33,837
EXPENDrruREON:
Charitable activities
23.609
23,609
16,248
TOTAL EXPENDITURE
23,609
23,609
16,248
NET INCOME I (EXPENDITURE) BEFORE
INVESTMENT GAINS
Net (lossesygains on investments
11,249
11.249
27,772
17.589
95,718
27.772
NET INCOMEIIDEFICIT) FOR THE YEAR
11,249
27.772
39,021
113,307
NET MOVEMENT IN FUNDS
11249
27,772
39,021
113,307
RECONCILIATION OF FUNDS:
Tot21 funds brought forward
128,823
918,377 1,047,200
933.893
TOTAL FUNDS CARRIED FORWARD
140.072
9M149 1,086,221 1,047,200
Al activities relate to conlinulng operations.
The notes on pages 9 10 15 form part of these financial statements.
Page 7

THE APPLETOM TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
FIXED ASSETS
Investments
1,211,029
1,183.257
CURRENT ASSETS
Debtors
Cash al bank and in hand
41.544
42.222
41.544
42,222
CREDITORS: amounts falling due
within one year
(166,352)
(178,279)
NET CURRENT LIA81LITIES
1124.808)
1136.057)
NET ASSETS
1,086,221
1,047,200
CHARITY FUNDS
Unrestricted funds
ETrJowment funds
10
10
140,072
948,149
128,823
918.377
TOTAL FUNDS
1,086,221
1,047,200
The financial slatem8nts were approved by the Trustees
and signed by:
(G¥L.
l D Blythe
Tnjstee
The notes on pages 9 10 15 form part of these financial statements.
Page 8

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
GENERAL INFORMATION
The Appleton Trust is an unincorporated Trust registered in England and Wales with the Charty
CommissDn. The charty registration number 18 250271.
The charity's principal is Canterbury Diocesan Board of Finance, Di0￿san Hous8. Lady Wootton's
Green. Canterbury, CT1 1 NQ.
ACCOUNTING POLICIES
2.1 Basls of preparation of financial statements
Basis of preparation.. The financial statements have been prepared in accordance with the Chari(ies SORP
{FRS 102k Accounting and Reporting by Charities: Statement of Recommended Practice appliGable 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 20191, the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Appleton Trust constitutes a public benerrt entity as defined by FRS 102.
The CharIt￿S functional and presentational currency is Pounds Sterling.
The charity's financial statements are presented to the nearest pound.
2.2 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriat8 fund.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
2.4 Expenditurè
Expenditure is recognised once there is a legal cff constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits wll be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is ¢iassrfied by
a¢tivty.
Grants payable are charged in the year wh8n the offer is made except in those cases where the
offer is conditional, such grants being reGognisgd as expenditure when the conditions attaching are
fulfilled. Grants offered subjeGI to conditions which have not been met al the year end arB noted as a
commitment, but not awued as expenditure.

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES (contlnued)
2.5 Investments
Listed investments are a form of financial instrument and are initially recognised at their transaction
cost 2nd subsequently 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 and shown
in the heading'Net (lossesygains on investments, in the Statement of Finan¢ial Actwities.
2.6 Interest recelvablè
Interest 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 digcount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash al bank and in hand includes cash and short tenn 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 Creditors
Liabilities are recognised when there is an obligation at the balance sheet date as a ￿sU11 of a past
event. it is probable Ihal a transfer of economic benefit will be required in selllement. and the
amount of the settlement oan be estimated reliably. Liabilities are recognised al the amount that the
charity anticipates il will pay to settle the debt or the amount it has received as advanced payments
for the goods or servi￿$ il must provide. Provisions are measured at the best estimate of the amounts
required lo settle the obligation. Where the effect of the time value of money 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 lo the liability. The unwnding of the discount is recognised within interest payable
and similar charges.
2.10 Financial instruments
The charity only has financial assets and financial liabililles of a kind that qualrfy as basic financial
inslrumenls. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value_
2.11 Going Ccncem
The Trustees ar8 of th8 opinion that the Charity has adequate resources to Gontinue in operational
8XlStence for the foreseeable future and there are not material Un￿rtaInlieS regarding the Charity'g
ability to do so.
Page 10

THE APPLETON TRUST
INCOklE FROM CHARITABLE ACTIVITIES
Unrestricted Endowment
funds
Funds
2024
2024
Total
funds
2024
Total
funds
2023
Charitable activities
500
In 2023, of the total income from charitable aclivilies, £nil was to restricted funds.
INVESTMENTINCOME
Unrestrlcted Endowment
Fund
Fund
2024
2024
Total
fund
2024
Total
funds
2023
Investment income - listed
Investment income• cash
33,079
1,779
33.079
1.779
32,030
1.307
34.858
34,858
33.337
In 2023. of the lotsl investment income, £33.337 was lo un￿StrICted funds and £nil to restrict&d funds.
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTMTIES
2024
2023
Counselling fees and expenses
Grants
Pastoral supervision
Expenditure on govemance
9,310
4800
4.277
5.222
10.498
2,050
3.700
23,609
16,248
The grants were as follows:
2024
Number
2024
2023
Number
CDBF
Individuals
4,800
2,050
4800
2.050
Page 11

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FIXED ASSET INVESTMENTS
Listed
securities
Market valuè
At 1 January 2024
Revaluations
1,183,257
27,772
At 31 December 2024
1,211,029
Investments at market value comprise..
2024
2023
Listed investments
1,211.029
1,183,257
I the fixed asset investments are held in the UK in Central Board of Finance funds managed by CCLA
Investment Management Limited.
Material investments
31 D•cèmb8r
2024
31 December
2023
CBF Investment Fund
CBF Property Fun
CBF Fixed Interest Securities Fund
1,047.900
19,229
143,900
1.024.451
1g,123
139,683
1,211,029
1,183,257
DEBTORS
2024
2023
Other debtors
CREDITORS: Amounts falling due wlthln one year
2024
2023
Grant Commitments
Other rred5tors
161,130
5,222
166,352
166,799
11.480
178,279
Page 12

THE APPLETON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9. RELATED PARTY TRANSACTIONS
2024
2023
Management charge due to Canterbury Diocesan Board of Finance
2,950
2,900
In 2017, a grant tolaling £300,000 was awarded lo th8 Canterbury Diocesan Board of Finance lo help
them achieve Ihelr strategic goals. At the year end. the amount due to the Canterbury Diocesan Board
of Finance was £161.13012023.. £166.799)-
No Iruslees receNed remuneration in respect of the year ende(131 December 2024 {2023.' £Nil) and no
Trustees were reimbursed expenses in respect of the year ended 31 December 202412023.. £Nil).
There were no other related party transaction in the year ended 31 December 2024 (2023= £Nil}-
10. STATEMENT OF FUNDS
Brought
Forward
Galnsl
{Losse8)
Carried
Forward
Income
Expenditure
2024
Unrestricted funds
General Funds- all funds
128,823
34,858
123.609
140,072
Endowment funds
Endowment Funds - all funds
918,377
27,772
946,149
Tot81 funds
1,047.200
34.858
(23,609)
27.772
1,086.221
023
Unrestricted funds
General Funds- all funds
111,234
33.837
{16.249)
128,823
Endowment funds
End(Iwment Funds - all funds
822,659
95,718
918.377
Totsl of funds
933,893
33,837
116.249)
95,718
1,047,200
Page 13

THE APPLETON TRUST
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
2024
Fixed asset investments
Current assets
Creditors due within one year
1,211,029
1,211,029
1103.750}
41,544
1161,1301 (166,3521
145.294
(5.222)
140,072
946,149
1,086,221
Unrestricted Endowment
funds
funds
2023
2023
Total
funds
2023
2023
Fixed asset investments
Current assets
Creditors due wlthin on8 year
1.083,257
140.303
(98,081)
111,4801 (166,7991
1.083,257
42,222
(178,2791
128,823
918,377
1,047,200
Page 14