THE CHERRY TREE FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 DAVERT BANKS & COMPANY MDLAND LODGE THE WOODLANDS ESHER, SURREY I10 8DD
THE CHERRY TREE FOUNDAMON Pages Legal and Administrative Information Report of the Twstees Balance Sheet Statement of Financial ActNities Investment Income 5110 Notes to the AcGounts Report of the Independent Examiner 12
THE CHERRY TREE FOUNDATION LEGAL A D ADMINISTRATIVE INFORMATION ConsbtLrtion The Chefry Tree Foundation was established under a Deed of Settlel dated 31 March 1966 and ts registered with the Charity Commission nLsmber 258842. Charitable Objects General Charitable PufFoses. Tmstees The Trustees who seNed duriT¥J the year. were as follows: Mrs D M Rawstron l G Bradshaw 1 Mitre Court 8uikJings Inner Temple London EC4Y 7BS Sol¢rtors Smyth Barkham LLP 1 Mitre Court Building5 Inner Temple London EC4Y 7BS Bankers C Hoare & Co 37 Fleet Street London EC4P 4tMJ Independent Examiner R T Hecquet Davert Banks & Co Woodland Lcxage The Woodlands Esher, Surrey Kr10 8DD
THE CHERRY TREE FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR NDED 5 APRIL 2025 The Trustees are pleased to present the ReFQrt together wth the Financial Statements ofthe Charity for the year ended 5 April 2025. Legal and Administrative infomBtion. set out on Page 1. forms part of this Report The Financial Stslements compty with current statutory requirenEnts and the Statet of Recommended Practice - Accounting and Reporting by Charitses. 1. ObjectNes and ActNibes This charitsble trust was set up by the l P L Travers, the author ofthe Mary Poppins stories. The Trust has general charitsble obie¢ts but. in accordan with the founder's wtshes, it is the Trustses, policy to make awards lo talented chihlren of primary and Sndary school age who are in need of financial assistan fr)r expenses to pursue their talents in the Ferfoming arts, esFecialty music 2. Achievements and Performan In 2024125 the Trustees made awards for children who needed help wth musul tUItn and drama fees. The Trustees also made awards to support the purchase of musical equipmenL the annual children's wr(ting COmpetOn at Maryt(Jrough,Australrd l the birthplace of P L Tfavers l and attendance by a student at the cello masterclass a the Schiemionnikoog FestTrRI 3. Financial Rev The Charity does not seek Publ funding and relw on incoff from investsnents. The Charity needs to maintain its presents level of capital reserves to ensure adequate fvnds are available to ¢over rts activities over the forthwming years. 4. Stru¢ture, Govemance and Manement This infomiation ts set out on page 1. New Charity Trustees are apwnted by a maprity ofthe existing trustees. 5. Referen¢e and AdMintraIe Dfflails This informab.on is set out on page 1. Mrs D Rawstron, a Trustee, has been apptynted. with the agreetThnt of the other trustee, to manage the day-tdaY operations of the charity. There are regul¥ converSan5 betrn the Trustees and meetings when neSSary. Approved by the Trustees and sned by Mrs D M Rawstron- Trustee 11 Juty 2025
THE CHERRY TREE FOUNDATION BALANCE SHEET AT 5 APRIL 2025 Note 2025 2024 Investments at Market Value 1300 132.00 1 318311.00 Current Assets Funds held by Quiher Cheviot Funds held by Evelyn Partners Funds held by Smyth Barkham LLP Client Account 64.831.50 7.707.23 42,401.27 2.326.86 51.763.73 63 738.34 124,302.46 108,466.47 Current Liabilities - amounts falling due for payment wrthin one year 5.514.00 5.823.00 Net Current Assets 118 788.46 102,643.47 Total Asse15 ley5 Current Liabilities £ 1418920.46 £ 1420954.47 Funds Unrestricted £ 1.418,920.46 £ 1420954.47 Mrs D M Rawstron Trustees l G Bradshaw Approved by the Twstses on 11 Juty 2025
THE CHERRY TREE FOUNDATION STATEMENT OF FINANCIAL ACTIMTIES YEAR ENDED 5 APRIL 2025 Unrestricted Fund Total 2025 Total 2024 Capital from :. Royalties- see note below 29.502.07 29,502.07 21,788.44 Income from.. - Deposit Interest Investment Income- pages 5110 1.801.58 29.122.18 1.801.58 29 122.18 2,297.67 28.180.76 Total 60.425.83 60,425.83 52 266.87 Expenditure on Raising Funds Investment Management Fees 14.482.17 14.482.17 13.152.25 Charitable Activities 13.174.10 13,174.10 28,603.49 Other Expenditure Independent Examination Fee including Accountancy Professional Charges 4,560.00 2 672.40 4.560.00 2 672.40 4,140.00 3,520.20 Total Resources Expend& 34.888.67 34 888.67 49 415.94 Net Income for the year before Investments 25.537.16 25.537.16 2,850.93 Gains l {Losses) on Investment Assets Realised Unrealised 5,299.39 32,870.56)1 5,299.39 32,870.56 } 10,742.60 97,047.55 Net {Outgoingsl I Income 2.034.01){ 2.034.01) 110,641.08 Total Funds Brought Fotward 1420.954.47 1420,954.47 1.310 313.39 Total Funds Carried Forward £ 1418920.46 £ 1418.920.46 £ 1,420 954.47 The Royalties are a Capital receipt and are therefore invested lo produce income for the charitable objects
THE CHERRY TREE FOUNDAlloN INVESTMENT INCOME- 1 YEAR END D 5 APRIL 2025 Portfolio Maintained b Ouiller Cheviot UK Dividends Dividend Paid Anglo American PLC 250 Shares Ashstead Group PLC 70 Sha$ Associated British Foods PLC 200 Shares Astrazeneca PLC 175 Shares 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 Shares HSBC Holdings PLC 1.350 Shares Intermediate Capital Group PLG 200 Shares JD Sports FashK>n PLC 2,300 Shares Legal & General PLC 1.350 Shares London Strtk Exchange PLC 45 Shares National Grid PLC 500 1645 Shares Polar Capitsl Global Financials 6,275 Shares 162.18 67.74 180.00 429.80 168.00 423.57 95.24 218.02 54.99 231.80 29.45 31.08 112.50 871.85 159.00 21.39 278.51 S4.14 297.77 294.93 Carry Forward 4,181.96
THE CHERRY TREE FOUNDATION INVESTMENT INCOME- 2 YEAR END D S APRIL 202 UKDI ends - continued Dividend PaKI Brought Forward 4,181.96 Prudenlial 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 Sha Smith IDS ) 1,000 Shares Smiths Group PLC 225 Shares Standard Chartered PLC 750 Shares Taylor Wmpey PLC 2,600 Shares Unilever PLC 250 Shares Whitbread PLC 125 Share5 3 i Group plc 250 Shares 82.79 90.00 507.00 63.60 25.03 863.28 120.00 98.44 176.45 249.34 370.21 124.13 162.50 7.114.73
THE CHERRY TREE FOUNDATION INVESTMENT INCOME - 3 YEAR ENDED APRI UK Unit Trust Dividends Dividend Paid I Accumulated Baillie Gifford Japanese Income Growth 10,000 Units Blackrock North American Equrty 62,481666 Units Blaekrock Continental European Incoff* D 12,000 Units BNY Mellon Real Retum 15,000 Units CT Propety GrcNAh & Income 750 Units Equity Alliance Berstein 10,000 Shares Fidelity Asia Pacffic 5,000 Shares Franklin UK Smaller Cos 185 Units Henderson European Selected Opps 10,000 Unrts Hender50n UK Smaller Cos 150 Units JPM Emerging Markets 7,500 Shares Legal & General UK Propety 20,000 Units 292.00 922.47 779.52 433.60 329.14 301.00 91.00 26.80 237.85 32.77 120.75 66.12 3 633.02 UK nit Trust Interest Allianz Gilt Yield I 20,000 Units Legal & General UK Propety 20,000 Units Royal London Sterting Credtt 12,500 Units 1,141.04 89.10 848.89 2 079.03 UKP In Distribubons Legal & General UK Propety 20,000 Un Segro PLC 275 Shares 294.85 52.53 347.38 vin s Income H G Capilal Trust 2.500 Shares Treasury 0.125% IL 22.11.36 £ 15,000 Stock 50.00 27.81 77.81
THE CHERRY TREE FOUNDATION INVESTMENT INCOME- 4 ENDED S APRIL2025 n Dividen Dividend Paid Allspring Emergiry Markets Equity 175 Shares Eastspring Japan Dynamics 1,000 Shares inc Reported Income Dodge & Cox Worldwide US Stock Inc 1,000 Shares International Publi¢ 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 Equity 500 Shares Pa¢ific Capital 1,000 Shas Schroder Oriental Income 2,000 Shares Schroder US Large Cap 75 Shares Sequoia Economic Infrast 5,731 Shares Vanguard FTSE 250 UCITS EfF GB 215 Shares inc Reported Income Veritss Asian 10,014 Shares 582.14 235.55 287.00 825.00 2,539.79 104.12 369.34 485.92 240.00 129.70 394.00 230.91 6.478.41 n Interes Aspect Diversified Trends 60 Share5 Federated Herme5 unconstrained Cred M3 17,400 Shares Vanguard UK Inv Grade Bd 100 Shares inc Reported Income Vontobel 24 Strat Inc 175 Shares Wellington Global Cred 1,500 Shares 209.90 396.87 382.08 661.50 693.86 2,344.21 nvestmen Income eNed 22,074.59
THE CHERRY TREE FOUNDATION INVESTMENT INCOME- S EAR ENDEO 5 APRIL 2025 Portfolio Maintsined b Evel n Pathers Dividend Paid Diageo PLC 150 Ordinary Shares 48.08 UK Savin sln UK 0.625% 07.C6.2025 £15,727.74 £17,282.10 UK 0.1250A 30.01.2026 £41,373.53 UK 0.375Qk 22.10.2026 £9,844.01 £12,082.30 UK IL 0.125°/0 10.08.2028 £14,692.50 UK 0.5Yo 31.01.2029 £12,886.41 £35,388.04 UK 0.8750A 31.07.2033 £14,493.29 UK 4.75°A 07.09.2034 £10,786.70 49.15 54.01 25.86 18.46 22.65 26.05 32.22 88.47 126.82 485.40 929.09 Trust Diwdends Evenioie Income Fund D Dis 10,800 112.190 18,837.75 Shares Fundsmrth Equity Inc 5,900 16,810 Shares T M Retthvheel UK Equity 26,000 126,945 118,928 Shares 406.66 116.30 1082.76 1605.72
THE CHERRY TREE FOUNDATION INVESTMENT INCOME-6 YEAR ENDED AP Tax Dividend Paid IAccumulated Forei n DNidends Brown Advisory 2,700 Share$ Coupland Cardiff Japan S Inc 488.657 Shares 200.34 105.47 CRH 150 Shares Fulcrum Diversified Abs 140 Shares Guiness Global Equity Income 1,275 11,420 Shares I Shares Core SE 100 2,219 Shares I Shares S & P Core 500 850 1950 Shares Prusik Asian Equity 60 Shares Royal London Global Equity 26,827.43 129,450 Shares Salam Artificial Intelligence 5,022 Shares United Health In¢ 9 Shares 10.37 31.11 129.65 876.80 250.75 433.70 265.99 248.49 4.02 2.21 12.52 12.58 £ 2,558.84 Fo nln Aegon Short Dated Climate 1,915 Shares C G Portfolio Absolute Retum 165 Shares VontabeS Twenty Four Abs Retum 150 1198 Shares 557.84 584.70 763.32 1.905.86 Investment Income Total Investment In Investme from 29 122.18 10-
THE CHERRY TREE FOUNDATION NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR END APRIL 2025 Accounti Polici lal Basis of Preparth"on The Financial Slatements have been prepared in accordan wilh the Statement of Recommnded PractKe ISORP} 'applicable to Charitres in accordance wi(h the Financial ReIng Stsndard in the UK and Republic of IreLqnd IFRS1021. (b) Fund Accounting Unrestitted Funds are availatle for use at the discretion of the Ttee$ in furtherance of the general obiectwes of the Charty and whih have not been deswJnated for other purp)ses. Ic) Incoming Resoutces AJI Incoming Resources are included in the Statement of Finanaal Actwrties when the Chanty is kgalty entiued. Idl Resources Eynded l Expendtture is accounted for on an ALcrual basis. Currenl Liabiltties Liabilities.. Amounts falling due for Paymentwithin one year 2025 2024 £¢ruals- Independent Examnation Fee Indudi Accountancy Profrssional 4,560.00 954.00 4,140.00 1,683.00 5 514.00 £ 5 823.00 Trus Remuneration The Trustees neither rece. nor waived any enkurnents during the year {202312024 £ Nil). No Expenses were reimbursed to the Trustees {202312024 £ Nil) During the year, a charge of £2.672.40 was maje by Smyth Barkham LLP for Administration Services. Mrs D M RatrOn. a Trustee of this Charity, is a consuhant at Smyth Barkham LLP l G Bradshaw is a consumant * Sfftyth Barkham LLP (202312024 £3.520.201
INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OFTHE CH RRY TREE FO NDAMON I report on the Axounts of ts Charity for the year ended 5 April 2025. set out on pages 3 to 11. Respective responsibilities of trustees and examiner The charity's trustees consider that an audtt is not requirgj for this year (under tion 145111 of the ChaTTtEs Act 2011} (the A¢t}, and that an independent eXaMinan is needed. It is my reSPCs1bl1Ity to: Examine the accounts under secti¢)n 145 of the ACL To follt)w the procedures laid down in the GerdI Direth"ons given by the Charity Commission (under section 145151{bl of the Act). and To state whether matters have conE to my attention. Basis of independent examlnerfs statement My examination was carried OLrt in accordan wth the General Directions gNen by the Charty Commissioners. An examinatK)n includes a review of the a¢counting records kept by the charty and a comparison of the acwunts presented with those records. 11 also includes consideratton of any unusual items or disclosures in the accounts and seeking explan*"ons from the trustees conceming any su¢h matters. The procedures undertaken do not provide all the eVence that would be required in an audf(. and consequenlly I do not express an audit opinion on the accounts. Independent examinerfs statement In the course of my examination, no matter has CO to my attent•)n. whtch give5 reasonable cause to belbeve that in any material respect the twstees have not met the reqUIrents to ensure that proper account.ng frdS are kept in xcordance with section 130 the Act. accounts are prepared whh agree wilh the accountsng records and compty with the xeounting requirements of the Artor to Whh. in my opinn. attention Shou be drawn in order to eTthle a proper underslanding of the accounts to be rea¢h&J. R T Hecquet FCA Chartered Accountant Davert Banks & Co. Woodland Lodge The Woodlands Esher, Surrey Iff10 8DD 14Ju 202 -12-