THE CHERRY TREE FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 DAVERT BANKS & COMPANY WOODLAND LODGE ThE ￿0DLANDs ESHER, SURREY K[10 8DD THE CHERRY TREE FOUNDAMON INDEX Pages Legal and AdministralNe Information Report ofthe Trustees Balance Sheet statement of Financial Act"vibes Investment Income 5111 Notes to the Accounts 12 Report of the Independent Examiner 13 THE CHERRY TREE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Consfitutson The Chery Tree Foundation was established under a Deed of Setuement dated 31 March 1966 and r￿IStered wtth the Charity Ccrfnmission nUM￿r 258842. Challtable Objects General Charitable Purtws. Trustees The Tnjslees who served during the year, were as follows.. Mr5 D M R￿stron l G Bradshaw 1 Mitre Coijrt Buildings Inner Ternple London EC4Y 7BS Solutot5 Smyth Barkham LLP 1 Mitre Court Buildings Inner Temple London EC4Y 7BS Banke C Hoare & Co 37 Fleet Street London EC4P 4DQ Independent Examiner R T Hecquet Davert Banks & Co wO￿land Lcxlge The Woodlands Esher, Surrey Kf10 80D THE CHERRY TREE FOUNDAMON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The Trustees are pteased to present the Report together with the Financral Statements of the Charity for the year ended 5 April 2024. Legal and Adminislrthe informatton, set wt on Page 1. forrrts part ot this Report The Financkal Stslements compty with current statutory requIre￿nts and the strten￿nt of Recommended practi￿ - Accounting and Reporting by Chwities. 1. Obl￿tIveS and ActNities This charitable trust was set up by the late P L Travers, the author of the Mary Poppins stories. The Trust has general charitable objects t*rt. in ac(xJrdance wrth the founderfs wishes, il is the Trustees, pOI￿Y to make awards to talented chikjren of primary secondary school age who are in need of financial assistance for expenses to pursue their talents in the perforniing arts, especialty music 2. ACh￿VeMents and Perfom)ance In 2023124 the Trustees made awards fDr children who needed help with musical turtion and drama fees. The Trustees also made awards to 5UPWrt the purchase of musul equipmenL the annual children's writs'ng compet'tior? and attendan￿ ty a student at the sCh￿M￿)n￿l￿ Festival 3. Financial Revmv The Charity dces not seek publ￿ fvnding and rdres on income from investments. The Charity needs lo maintain ts presents level of capilal reseNes to ensure adequate funds are available to cover rts acbvitses over the fOrt￿ming yea￿. 4. stru￿re, G0Veman￿ and Management This information is set out on page 1_ New Charity Trustees are appoinbj by a rrrajcwity of the ￿sting trustees. 5. Reference and Administra￿ Details This information is set out on page 1. Mrs D Rawstron, a Tru51ee, has ￿en aptK)inted, with the agreement of the other trustee, to manage the day-ti)4ay operations of the charity. There are regulaf COnve￿atrOnS beiween the Trustees and meetings when necessary. Approved by the Trustees and s￿J￿1 by Mrs D M RawstsDn- Trust 9 Ajjgust 2024 THE CHERRYTREE FOUNDATION BALANCE SHEEr AT5APRIL 024 Note 2024 2023 Investments at Market Value 1.318 311.00 1,198,408.00 Current Assets Funds held by Quilter cheV￿t Funds held by Evelyn Partners Funds held by Smyth Barkham LLP - Client Account 42,401.27 2,326.86 64,130.56 3,751.68 63.738.34 49 6￿.75 Current Liabilities - amounts falling due for payment within one year 108,466 47 117.488.99 5,823.00 5 583.60 Net Current Assets 102 643.47 111 905.39 Total Assets less Current Liabilities £ 1420.954.47 £ 1310313.39 Funds Unrestricted £ 1420,954.47 £ 1.310313.39 Mrs D M Rawstron l G Bradshaw Approved by the Trustees on 9 August 2024 THE CHERRYTREE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2024 Unrestricted Fund Total 2024 Totsl 2023 Capital frorn :_ RoyattÈes- see note below 21.788.44 21,788.44 36.150.17 Income from." - Deposit Interest Investment Income- pages 5111 2.297.67 28 180.76 2,297.67 28,180_76 1,071.86 24,418.63 Total 52,266.87 52,266.87 61,640.66 Expenditure on Raising Funds Investment Management Fees 13.152.25 13.152.25 12,643.42 Charitable Activtties 28,603.49 28.603.49 22,581.31 Other Expendf(ure Independent Examination Fee including Accountancy Professional Charges 4.140.(J) 3,520.20 4.140.(KJ 3.520.20 3,900.00 2,253.60 Total Re50urces Expended 49 415.94 49.415.94 41 378.33 Nel Income for the year befo Investments 2.850.93 2,850.93 20,262.33 Gains I (Losses) on Investment Assets Realised Unrealised 10,742.60 97 047.55 10.742_60 97.047.55 { 15,090.68) 64,997.00) Net Income l {OLrtgoings) 110,641 08 110,641_08 59,825.35) Total Funds Brought Forward 1.310,313.39 1,310,313.39 1,370,138 74 Totsl Funds Carried FoFward £ 1.420 954.47 £ 1420,954.47 £ 1.310,313.39 The Royalties are a capital receipt and are therefore invested to produce irbcome for the charitable objects THE CHERRY TREE FOUNDATION IWESTMENT INCOME- 1 YEAR ENDED 5 APRIL 2024 P rffolio Maintained b Ouilt r Cheviot UK Dividends Dividend Paid Anglo American PLC 250 Shares Ashstead Group PLC 70 Shares Associated British FoodsPLC 200 Shares Astrazeneca PLC 175 Sha Barclays PLC 2,000 Shares BP PLC 1,750 Shares Compass Group PLC 200 Shares Diageo PLC 275 Shares Experion PLC 115 Shares GSK PLC 380 Shares Haleon PLC 475 Shares Halma PLC 140 Shares H G Capital Trust 2,500 Sha￿s HSBC Holdings PLC 1,350 Shares Intemiediale Caprtal Group PLC 200 Shares JD Sports Fashion PLC 2,300 Shares Legal & General PLC 1,350 Shares London Stock Exchange PLC 45 Shares National Grid PLC 500 Shares Polar Capital Global Financia15 6.275 Shares 257.59 55.76 120.00 398.65 160.00 393.22 86.20 220.00 50.38 211.85 19.95 29.05 162.50 572.50 156.00 22.31 265.15 49.96 285.00 285.52 Cary Forward 3,801 57 THE CHERRY TREE FOUNDATION INVESTMENT INCOME- 2 YEAR ENDED 5 APRIL 2024 U K Dividends - conkn.nu Dividend Paid Brought Forward 3,801.57 Prudential PLC 500 Shares Relx PLC 150 Shares Rio Tinto PIC 150 Shares Scottish Mortgage Inv Trust PLC 1.500 Shares Segro PLC 275 Shares Shell PLC 800 Shares Smith IDS I 1,000 Shares Smiths Group PLC 225 Shares Standard Chartered PLC 750 Shares Taylor Wimpey PLC 2.800 Shares Unilever PLC 250 Share5 Whitbread PLC 125 Shares 3 i Group pl 250 Shares 78.08 83.85 61.50 50.05 818.56 180.00 93.61 121.20 248.82 371.14 104.88 140 63 6,638.43 THE CHERRY TREE FOUNDATION INVEStMENT INCOME- 3 YE4R ENDED 5 APRIL 2024 UK Unit Trust Dividends Dividend Paid I Accumulated Baillie Gifford Japanese Income Growth 10,000 Unrts Blackrock North American Equty 62.481.666 Units Blackr￿k Continental European Income D 12,000 Units BNY Mellon Real Retum 15,000 Units CT Property Growth & IncoffE 750 Uni(s Equity Alliance 88rslein 10,000 Shares Fidelity Asia Pacific 5.000 Shares Franklin UK Smaller Cos 185 Unrts Henderson European Selected Opps 10,000 Units Henderson UK Smaller Cos 150 Units JPM Emerging Markets 7,500 Sha￿5 Legal & General UK Propety 20,000 Units 330.00 877.80 895_39 470.98 319.41 79.00 12.05 26.36 255.71 114.00 53.76 3471.12 UKUn T st Interest Allianz Gill Yield I 20,000 Units Legal & General UK Propety 20,000 Units Royal London Steding Credrt 12,500 Unrts 836.32 58.26 784.79 UKPro In 1,679.37 Distributr"ons Legal & General UK Propety 20,000 Units Segro PLC 275 Shares 345.02 23.93 368.95 Savin slne Treasury 0.125% IL 22.11.36 £ 15,000 Stock 26.83 TrE CHERRY TREE FOUNDATION INVESTMENT INCOME- 4 YEAR ENDED 5 APRIL 2024 Forei n Dividends Dividend Paid Allspring Err￿Ing Markets Equty 175 Shares Eastspring Japan DynamKs 1,000 Shares Dodge & Cox Worldwde US Stock Inc 1,000 Shares International Public Partnership 10,000 Shares KBI Dividend Plus North American Equity 5,500 Units Lumyna Marshall Wace Tops Units A 73 Shares- Reported Income NB Private Equty 500 Shares Pacific Capital 1,000 Shares Schroder Oriental Income 2,000 Shares Schroder US Large Cap 75 Shares Sequoia Economic Infrast 5,731 Shares Vanguard FTSE 250 UCITS ETF G8 215 Shares in¢ Reported Income Velltss Asian 10,014 Shares 563.97 194.80 261.00 793 00 2.470.33 290.23 371.10 456.82 236.00 151.43 394.00 224.05 35.61 6,442.34 Forei n Interest Federated Hermes Unconstrained Cred M3 12,500 117,400 Sha￿$ Pim¢o Global Hgd Inc 500 Shares Vanguard UK Inv Grade Bd 100 Shares inc Reported Inco￿ Wellinglon Global Cred 1,500 Shares 541,18 153.95 328.51 322.64 Investrnenl Income R ived 19.973.32 THE CHERRY TREE FOUNDATION INVESTMENT INCOME- 5 YEAR ENDED 5 APRIL 2024 Po Ev lio Maintsined b I n Pariners Dividend Paid K Dividends AslraZene¢a PLC 60 Ordinary Shares Beazley PLC 872 Ordinary Shares BP PLC 850 Ordinary Shares Bunzl PLC 145 Ordinary Shares Croda lnlernab.onal PLC 80 Ordinary Shares Diageo PLC 150 Ordinary Shares Experian PLC 205 Ordinary Shares Legal and General PLC 1,450 Ordinary Shares Prudential PLC 214 Ordinary Shares Shell PLC 185 Ordinary Shares Unilever PLC 150 Ordinary Shares 136.68 117.72 190.99 92.22 48.80 120.01 89.77 284.79 22.39 189 29 222.69 1.515.35 UK vin s Income UK 0.25% 31.01.2025 £20,000 £31,172 UK 0.125°A 30.01.2026 £10,411.32 UK 0_3750A 22.10.2026 £9,844.01 UK ILO.125% 10 08.2028 £7,500 £14,692.50 UK 0.5°A 31.01.2029 £8.360 UK4.75Yo 07.09.2034 £8.634.04 25.00 38.97 13.02 18.46 6.31 12.65 41.80 194.27 350.48 THE CHERRY TREE FOUNDATION INVESTMENT INCOME-6 YEAR ENDED 5 APRIL 2024 UK Unit Trust Dividends Dividend Paid IAccumulated Fundsmrth Equrty I Inc 2,600 Shares J P Morgan Japan C Acc 1,550 Shares L F Ruffer Total Retum 2,500 Shares Liontrusl European Dynamic I 2.725.999 Units Thesis UK Equity 9,250 Shares 57.63 26.51 176.04 112.36 418.14 790.68 UK Unit Trust Interest Artemis Corporate Bond 17,500 Shares 20,575 Shares 188.27 484.58 672.85 UK Pro Income DistribiJts"ons Supennarket Income REIT PLC 11.699 Shares 175.49 Tax Dividend Paid lknumulated Forei n Dividends BHP Group PLC 200 Shares Blackrock Continental Euro Fex 270 Shares Coupland Cardiff Japan Inc 325 Shares 240.75 84.86 CRH 208.08 150 Shares Findlay Park American Hedged 290 Shares Guiness Global Equty Income 575 Share5 Hermes Global Emerging Mkts F Acc 5,395.03 Shares I Shares Core FTSE 100 2,219 Shares I Shares S & P Core 500 850 Shares 68.92 206.73 18.44 318.21 79.98 655.05 399.24 Cary Forward 68.92 2.211.34 10- THE CHERRY TREE FOUNDATION INVESTMENT INCOME- 7 YEAR ENDED 5 APRIL 2024 Tax Dividend Paid IAccumulated 2.211.34 Brou hl forwatd 68.92 International Public Partnership 7,758 Shares Prusik Asian Equrty 60 Shares Sanlam Artificial Intelligence 5,022 Shares Smutfit Kappa 185 Shares SSGA US Div Aristocrats 314 Shares United Health Inc 9 Shares Veritas Asian 16 Shares 300.23 538.34 13.56 56.20 168.59 288.20 1.98 11.19 56.39 127_10 £ 3.587.84 FoTri n Intere Aegon Short Dated Climate 1,915 Shares C G Portfolio Absolute Retum 125 Shares Vontabel Twenty Four Abs Retum 150 Shares 170.34 360.91 583.50 1 114.75 Investment Income 8,207.44 Total Investment Income from tment Houses 28,180.76 THE CHERRY TREE FOUNDAT]ON NOTES TO THE FINANCIAL STATEMENTS FOR TH YEAR ENDED 5 APRIL 2024 POI￿leS lal Basis of Preparatton The Financial Statements have been prepared in accordance wrth the Statement of Recomn*nded Practi￿ {SORP) 'applicable to Charities in accordance wf(h the Financkal Reporbng Standard in the UK and Republic of Ireland IFRS1021. {b) Fund Accounting Unrestricted Funds are aval￿ble for use at the discreb.on of the Trustees in furtherance of the general objectives of the Chanty atKI which have not been desKJnated for other purtx)ses. (c) Incoming Resources All Incoming Resour￿ are included in the Statement of Financial ActNities when the Charity is Ègalfy entitled. {d} Resource5 Expended l Expendtture is accounted for on an ALcn&al basis. Current Liabilth. L￿bilIb.eS_. Amounts falling due for Payment wrthin one year 2024 2023 AccruaL8- Independent Examination Fee Including Accountancy Professional 4,140.00 3.900.00 1683.60 5 823.00 £ 5,583.60 Trustees Remunerati The Trustees nerther receNèJ, waiv￿1 any emoluments during the year1202212023 £ Nill. No Expenses were reimbur￿1 to the Trustees (2022r2023 £ Nil) During the year. a charge of £3,520.20 was made by Smyth Barkham LLP for Administratron Services. Mrs D M Rawstron, a Trust￿ of this Charity. is a consultant at Sryth Barkham LLP l G Bradshaw i8 a consuttant at Smyth Barkham LLP {2022r2023 £2,253.60) 12- INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHERRY TREE FOUNDATION I report on the Accounts olthe Charity for the year ended 5 April 2024, set out on pages 3 to 12 Respective reswnsibilities of I￿￿tee$ and e￿Miner The charity's trustees consider that an audit 15 not required fr)r this year (under section 145(11 of the Charities Act 20111 (the Act), and that an inde￿ndent examination 15 needed. It k% my respon5ibilrty to." Examine the accounts under secb.on 145 of the Act To follow the procedures laid down in the General Direct#)ns gNen by the Charity Comrnission (under sects.on 14515}Ibl of the Act), and To stste whether matters have corrE to ry attention. Basis of independent examinevs stateme My exarrination was carried out in accordan￿ with the General Directsns gNen by the Charity Commissioners. An examination includes a review of the accounb.ng r¥ords kept by the charity and a comparison of the accounts presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanabons from the trustees concerning any such matters. The pr(Kedures undertaken do not provide all the evKlence that wouhj be required in an audit, and consequently I do not express an aijdrt opin￿n on the actx)unts. Independent examinefs statement In the course of rry examination. no matter has come to my attention. which gwes me reasonable Cause to believe that in ary material respect the trustees have not the requirements to ensure that proper &counting r￿rdS are kept in acecKdance with section 130 the Act accounts are prepared wh￿h agree wtth the awunting records and ¢ompty wilh the ￿coUntr"ng r4uir8nTrnts of Ihe Act or to Wh￿h. in ry opinM)n, attention shoukl be drawn in order to enable a proter understanding of Ihe accounts lo be reached. R T He¢quet FCA Chartered Accountsnt Davert Banks & Co. Woodland Lodge The Wwdlands Esher, Surrey KT10 8DD Au ust 2024 13-