THE CITY CHARITY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Charity Reglstratlon No. 259420 KNOX CROPPER
THE crry CHARITY TRUST coMrENTS Page REFERENCE AND ADMINISTPATIVE DAILs TRUSTEES, REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL AcfIvThiES 8ALANCE SHE CASHFLOW 5fATEMENT NOTES TO THE FINANCIAL STATEMENTS 9-15
THE ciry CHARITY TRUST REFERENCE AND ADMINISTRATIVE DEfAILS Charlty Number 2S9420 Trustees Alastalr John Calvert Collett Ellzabeth Ann Neale PrSncipal Addre55 One Bartholomew Close London ECIA 7BL Independent Examlners Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Banker5 Metro Bank One Southampton Row London WCIB SHA Solicitors Broadfleld Law UK LLP One Bartholomew Close London ECIA 7BL Jnvestment Managers char Stanley & Co MIted 55 Bi5hopsgale London EC2N 3AS
THE CITY CHARITY TRUST TRUSTEES, REPORT YEAR ENDED 31 MARCH 2025 The Trustees ol the charlty present their statutory report together wlth the accounts of The Uty Charity Trust C'the Trusl? for the year to 31 March 2025. The accounts have been prepared in accordance wth the accountlng pollci& sel out on pages 11 to 13 of the attached accounts an(5 compty wlth the Trust's Trust Deed, applicable laws, account5ng standards Iunlted Klngdom Generally Accepted Accounting Prattlcel and Accounts'ng and Reporung by Charit1.. Ststernent ol Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reportlng Standard applicable in the United Klngdom and Republic ol Ireland IFRS 1021. INTRODucfIoN The Charlty wag created by Deed dated 26 July 1969 and is establlshed as a grant maknng trust. The Trustees normalty rnake donations to other registered charlties. The scope of thelr giving Is determlned by the e£(ent of thelr resource5,' Itls not restritted elther geograph1¢al or by the type of activlty carrled on bv the respecbve beneficlaries. ACTtVThlES, SPECIFIC OBJECTIVES AND RELEVANT POUCIES Activities and 5peclflc objectives The Trust'5 charitable objettive as expressed in its charitsble object5 is, For the benefit of such charltable institutlons or cljiects as the Trust shall In their absolute discretion from time to time determine. The Trust carrles out these objects by fundlno organisations identifled and suggested to the Trustees as active In the fiekl of the envlronment, arts, health and humanltarian need. Objectives and a¢tivitiÈs for the publlc benefit The Trusys sole acb'wty ¥5 maklng grants to charltsble organlsatlons, fulllng thelr alrn to help people arNI the society they live in. The Trustees have confirmed that they have referred to the guldance contrdlned In the Charity CommIlOn,5 general guidance on public benefit when revlewlng the Trust's alms and objertives, managlng the Trust'5 assets and consldering applications for flnanclal as51stance. The Trustees are confident that Ihelr publlc beneflt duty Is fulfilled, The Tru5tee5 aLs0 con51der that there 15 no detriment, harm or prlvate benefit that arises from carrying out the charitys aims, The Trustees are In Corresponden wlth all of the organisatlons that the Trust supports and we receive confirmalioT15 from all reclplents of our grants lo ensure that our grants delSver publk benefit. We ensure the publlc benefit is rnet by Teviewlng the actIvI of the reciplents of our support. Grant makSng policy and aims The Trust has establlshed grant rnaking pollcy to achleve Its objects for the publlc beneflt to seek organi5ation5 whlch Improve the quality of people's lives. In order tts award fundlng, the Trustee5 carry out research as to whlch organlsations have the Impatt.
THE crry CHARITY TRUST TRUSTEES, REPORT {CONTINUED) YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Review of activSties In the year, the Charlty received legacy donatlons of £10,933 {2024'. £3,476,922) and grants of £90,000 were awarded (2024., £44,000). Intomlng Resouros The total Sncomlng resour$ In the Unrestrlcted Fund for the year ended 31 March 2025 were £128,033 {2024'. E3,552,0711. Expendlture Resource5 of É142,898 were expended during the year {2024'. £78,196). Charltable management and administrallon costs were £21,590 (2024.. £14,868). Charltable grants 01 £90,000 were comrnlited during the year12024: £44,QQOI. Governan costs were £3,240 (2024.. E4,920) and of rdislng funds were £28,068 (2024.. £14,408). FINANCIAL REVIEW Results for the year The Trv5tee5 are satisfied with the flnanaal position of the Charity and conflrm that they have adequate assets avaltsble to fulfil their obligatlons. Cash held at the year end was £86,23112024.' £72,831). Investment values have decreased by £109,600 {2024.' increasEd by £3,401,780). Dela115 of the movements are shown in note 7. TotsS Fund5 have decreased by £82,926 (2024., increased by of £3,799,900). The Statement of Flnandal Advities show5 the movement in detall. Reserves Policy and goiEhg concern Funds in the Unrestricted Fund are kept to the mlnlmum necessary for the operations of the charity to continue uninterrupted. When necessary unrestrlcted funds are supplemente(S by transfers from the Expendable Endowment. It Ss nrt envisaged that there will be future commitments that exed future Incorne on an annual basss therefore the Trustees are happy with the current reserve level. The Trustees ère of the view that the tnjst Is a golng concem. Investment poli The Investment adwsors are Instructed to inve* In a portfolio which will promde the optimum yield by way of capltal appreclation and Income conslstent with reducing rlsk to a mlnlmum. GOVERNANCE, 5TRucfuRE AND MANAGEMENT Appointment of Trustees and Trustee inductlon and trainin9 The Truste are appolnted In accordance with the terms of the deecl dated 26 July 1969 and have the appropdate knowledge and eKpert5se to manage and aOmlnSster the Charity. The Trustees have cornplled wlth the duty to have regard to gUIdan Issued by the Charlty Commlsslon. New Trustees are brlefed on thelr legal obfigations under charity law, the Charity Comtnisslon guidan on public beneflt, Informed Df the contents of the deed, decision-makn.ng processes and recent financial performance of the Charity. Before taking on the role they meet key advisors and other Trustees. Trusrees are encouraged to attend appropriate external trnining events where these will facilitate the undertaking tsf their role. Rlsk managèment The Trustee5 have ernt1fled the major risk5 appllcable to a trust of thls nature and belSeve that approprlate attlon has been taken to rn198te these rlsks. The Trustees will continue to keep the adequacy of the systems under review.
THE crry CHARIfY TRusr TRUSTEES, REPORT (CONTINUED) YEAR ENDED 31 MARCH 2025 GOVERNANC¢ STRUCTURE AND MANAGEMENT (CONTINUED) Ststemént of Trustees, responsibilltles The Truste are re5ponslble for preparing the Tru5tees' report and accounts In accordance with appllcable law and United Kingdom Accountlng Standards Iunlted Klngdotll Generally Accepted Accounting PractScel. The law applicable to charllles In England and Wales qUireS the Truste to prepare accounts lor each finanaal year which give a truè and fair iyew ol the stsle of affalr5 of ihe Trust and of the incoming oUrceS and application of resources of the Trust for that perlod. In preparing these accounts, the TrLJStees are requlred to.. 5eleLt sultable accountln9 policks and then app them conslstenuy,. observe the rnethods and prinaples in Accounting and Reporbng by Charities: Statement of Recommended Practice applicable to charft5es preparlng thelr accounts In accordance with the Flnanoal Reporting Standard applicable to the Unlted Klngdom and Republic of IreLird IFRS 1021; make Judgements and estimateg that are reasonable and prudent,. slate whether applicab unl Kngdom accountlng standards have been followed, subject lo any malerfal departure5 disc105ed ènd explained in the accounts,. and prepare the accounts on the golng COnrn basis unless it is Inappropriate to presume that the Trust will ConAue In operaon. The Trustees are responsible for keeplng proper accountlng records that disdose with reasonable accuracy at any lime the financial posltion of the Trust antl enable them to ensure that the accounts compty with the Charltles Act 2011, applicable Charity (Accounts and Reports) RegutionS and the provlslons of the governing documents. They are also reSpolbIe for sofeguardlng the assets of the Trust and hen for tak5ng reasonable steps for the preventlon arKJ detectlon of fraud and other IrrUl3rtles. PLANS FOR THE FUTURE The City Charity Tnjst aims to ment relatlonshlps wlth the recipients of grants whllst malntalning an open mind to support other organiSatn5 with our charitable objettwe5. Slgned on behalf of the Trustees: Trustee Trusiee Akstslr John Calvert Collett Elizabeth Ann Nea Approved by the Trustees on....... .2025
THE CTfY CHARITRUsT INDEPENDENT AUDITQR'S REPORT TO THE TRUSTEES OF THE CITY CHARrtY TRUST I report to the trustees on my examination of the accounts of The CSty Charity Trust Ilhe Charlty) for the year ended 31 March 2025, which comprtse the Ststement of Financial Activilles, the Balance Sheet and related notes. Thls report Is made to the Trustees, as a boty, in accordance wllh terms of my engagement. My work has been undertaken so that I mlght carry out an Independent Examlnation of the financlal statements In accordance wlth the General Dirertions given by the Charity CoTnmis5ioner5. To the fvlle51 extent permitted by law, I do not accept tsr assume responslblllty lo anyone other than the Charlty and the Charlty's Trustee5 as body for my work or for this report. kesponsSbllltles and basis of report the charity trustees of the Charity you are respon51ble for the pparation of the accounts in accordan wlth the requlranents of the Charities Act 20111'the Act'}. I report in respect ol my examlnaJon of the Charity's accounts carried out under 5ertion 145 of the 2011 Att and in carrying out my examlnatlon I have followed all applicable Dirediorts 9iven by the Charity Commission under section 145(5llbl of the Art, Independent examlner's statement I have completed my examiriation. I conflrm that no materlal matter5 have come to rny attenuon In connection with the examlnation glving me cause to belleve that in any materlal $pert., accounung recor45 were not kept In respect of the Charity as requlred by secuon 130 of the Act. or the accounts do nol accord wlth those records,. or the accounts do not comply wlth ihe appllcable requirements conceming the form and content of accounts set out in the Charitles (Accounts and Reports) Re9ulallon$ 2008 other than any requlrement that the accounts glve a true and falr vlew which Is not a matter consldered as part ol an independent exBrnlnaUon. I have no concem5 and have come across no other matters In connectlon wlth the examlnatlon to whlch attention should be drawn in thi5 Port In order to en3bk a proper understandlng of the accounts to be reached. Knox Cropper LLP Ch3rtered Accountsnts and Statutory Auditors 65 Leadenhall Street London EQA 2AD 2025 Knox Cropper LLP is eligible for appointment as audltor of the Charity by virtue of its eligibllity for appointment as audltor of a company under settlon 1212 of the Companles Act 2006.
THE rn CHARrrY TRu¥r STATEMENT OF FINANCIAL AcrivrrIES INCLUDING INCOME AND EXPENDmsRE ACCOUNT YEAR ENDED 31 MARCH 2025 2025 Expendable Endowment Fund 2024 Unrttstrirted Expendable Fund5 Endowment Fund Note5 Unrestricted Funds Total Total Income from Dorwbons and legacies Investrnents, income and inLere5L 1vaNe Total income 10.933 117 100 10,933 117 100 3,476,922 3,476,922 128,033 128,033 3,552,071 3,552,071 Expenditure on Raisin9 fvnds Inve5bnent management fees Charitable actrvities 28,068 28,068 114,830 14,408 19,788 14,408 63,788 l14,830 44,000 Totrl expenditure k14,830 28,068 142,898 44,ODO 34,196 78,196 Net incomelexpenditure {Gain5)110es on investtnents 13,203 12B,0681 (14.865) 3,508,071 (34,196) 326 025 291 829 3,473.875 3 508 071 3 799 900 Transfer between funds {3,055,6211 452,450 3,055,621 3347,450 124,176 13,203 196,1291 3,471,626 (82,926) 3,954,692 3,799.900 Balance brought forward At l April 2024 483,066 30,616 154,792 Balance carried forniard At 31 March 2025 £496,269 £3,375,497 £3,871,766 £483,066 £3,471,626 £3,954,692 The notes on page5 9 to 15 form part of these financial statement The statement of financial acknvities indudes all gains and losses recognised in the period. AJI income and expenditurè derive from contynuing activitie
THE crry CHARITY TRUST BALANCE SHE AS AT 31 MARCH 2025 2025 2024 Note5 FSxed assets Investments 3,444,828 3,554,428 Current assèts Debtors Cash at bank and In hand 397,741 86,231 382,689 72,831 483,972 455,520 Creditors: amounts falllng due wlthin one year io {57,0341 {55,2561 Net Current Assets 426,938 400,264 Total assets kn current liabllltles ,871,766 £3,9S4,692 In¢orn¢ Funds Unrestrlcted funds Expendable Endowrnenl FuThJ li 496,269 3,375,497 483,066 3,471,626 £3,871,766 E3,954,692 The financlal statements were approved by the Trustees on .2025 Trustee Trustee Alastair John Calvert Collett Elizabeth Ann Neale The notes on pages 11 to 17 form part of these financlal statements.
THE CHARrrY TRUST STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 2025 2024 Notes Net Cash Provided by (used in) Operatlng Artlvltles Cash flows from investlng activities: Dlvidends and interest from investments Proceeds from sale ol Investments Transfer of Investments Purchase of investrnents 1145,2391 3,071,293 117,100 409,287 75,149 2,443,235 13,049,465) 2 469 525 367,748 Net cash provlded by (used in) Investlng actlvitles 158,639 13,000,606) Change in Cash and cash equivalents in the reportin9 perlud 13,400 70,687 Cash and cash equiwdlents al the beglnnin9 of the reporung perlod 72,831 2,144 Cash and cash equivalents at the end of the reportlng period £86,231 É72,831 Réconciliatlon of net Incomel(èxpanditure) to net cash flow from operatillg activities 2025 2024 Net Incomel(expenditure} for the reporting perlod: las per statement of flnanclal attivIe$l IGains)ILows on Investrnents DIMdends and interest from investments (Increaselldecrease In debtors IneaSe/[de(aSe} In credthrs (82,9261 68,061 1117,100) (15,052) 3,799,900 (326,0251 (75,1491 {382,6891 Net cash provlded by (used in) operatin9 activities E(145,239) £3,071,293 Analysis of changes In net funds At 0110412024 Cashflow5 At 311312025 Cash at bank Investment Manager 52,76Q 20,071 2,062 11,338 54,822 £72,831 £13,400 £86,231
THE CITY CHARTfY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Charity lrtformatlon The City Charlty Trust is an unlncorporated Trust. Its prlnclpal pla of buslness Is One 8artholomew a05e, London, ECIA 7BL. 1.1 Accountlrtg convention The financial Statements have been ppared In accor£Jance wlth Accounting and Repong by Charitles.. Statement of Recommended Practice appllcable to Charitles preparing thelr accoijnts In accordan wlth the Financial Reporting Standard applicab In the UK and Republic of Ireland IFRS 1021 leffecknve I January 20191 and the Charitie5 Act 2011. The flnanclal statements have been prepared to give a 'true and lair. view and have departed from the Charibes {Attounts and Reports) Regulations 2008 onty to the extent required to provide a 'true and falrf view. Thi5 departure has Involved following Accounting and Reporting by Charitle5.' Statement of Recommended Practlce appllcable to charities preparing their accounts in accordan wlth the Finanaal Reportlng standard applicable in the UK and Republic of Ireland IFRS 102) issued in October 2019 and rather than the Accountlng and Reporting by Charitles.. Statement of Recommended Practice effeLtlve from l April 2005 which has SIn been WhdraWn. The flnanclal ststements are prepared in 5terllng, whSch Is the functional currency of the Charity. The financial statements have been prepared under the hlstorlcal cosl convention, with iterns recognised at cost or transaction lue unless otherwise stskd In the rekevant notes to these accounts. 1.2 Going concern At the dme of approvlng the finanaal statements, the Trustees have a reasonabk expettation that the Charlty has adequate resources lo continue In operational existen for the foreeable future. The Charlty Is not a functyonal Charlty havlng staff and overheads but makes grants and donatnS from its ljvestment Income. The Trustees have assèssed whether the usè of the golng concern assumptlon Is appropriate In preparfng these accounts. The Trustees have rnade this assessment in respett to a perK)d ol one year frorn the date of approval of these accounts. The Trustees of the Tnjsl have concluded that there are no tnaterlal uncerkinties Telated to events or condSUons that may cast sIgnlCant doubt on the ablllty of the Trust to conunue as a gelng COnrn. The Trustees are of the oplnion that the Trust wlll have sufflcient resources to meet Its Ilablllties as they fall due. 1.3 Charitable funds The Expendèble Endowment Fund is the Capital Fund of the Charity and represents the orfginal Investments, Subsequent recelpts, and subsequent galns and losses Ihereon. The Endowment Is not permanent as the Trustees may apply these fvnds at thelr dlscretlon. The Unrestrlcted Fund is the General Fund which is awailable for use at the dlscretion of the TriJstees In furtherance of the general oblertlves of the Charlty and which have nol been designated for other purposes. 1.4 Income Income is recogn15ed On the Charity has entltlement to the Income. Itls probable that Y)e Income wlll be received, and the amount of Income recelvable can be measured rellable. All Income Is stated gross of any expenditure.
THE CITY CHARTfY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (CONTINUED) 1.4 In¢ome (eonunued) Legacies and Donations are recognlsed when the Trust has confirmation of iKJth the amount and the settlement date. In the event of donations pledged tryjt not received, the amount is accrued for where the receipt Ls con51dered probable. In the event that the donation is 5ubjert to conditions that require a level of performance before rhe Trust is entitled to the funds, the Income is deferred and not recognised until either the cond5tlons are fully met, or the fulfilrnent ol these condihons are wholly withln the control of the Tru* and Et is probable that these conditions will be fulfilled In the rep)rdng period. Dividends are recognlsed once the dlvldend has been declared and notificatbon has been reIVed of the dividend due. Interest on funds hekl on deposlt is included when CeIVable and the amount Can be measured rellably by the Trust; this is Mrmally upon notlficatlon of the interest pald or payable by the bank. 1.5 Expenditure Expendllure is recognised once there Is a legal or construdve obllgadon to make payment to a thlrd party, it Ss probable that settlement will be Fequlred and the amount of the obligatlon can be measured rellabW. Expenditure comprlses the folltyilng,, a) Expenditure on ralslng funds includes fees paSd to Investment managers In connection with advice on and management ol the Trusvs listed Investments. bl Expendlture on charltable actlvltles comprises grants payable. Grnnts payable art Included In the statement of financial activltles when approved and when the intended reclp5ent has either T&1Ved the funds or been informed of the declslon lo make the donatton and ha5 Satisfi all related conditions. Grants approved communlcated but not paid at the end ol the flnancial year are a¢crued for. Grants where the beneficlary has not been1nforrned or has to meet rtain conditions before the grant is released are not accrued for but are noted as financial comrnitment5 in the notes to the accounts. All expendlture is statement incluslve of Irrecoverable VAT. 1.6 Allocation of support and govemance costs Support costs represent Indlrect charitsble expendlture. In order to carry out the primary purposes of the Trust it is necSary to prrmde support in the form of admlnlstratlve seFvices. Governan c05ts comprlse the costs involvlng the publlc accountab111ty of the Trust {Sn¢luding audit costs) and costs in respect of its compliance with regulalian and good practice. Support costs and governance costs are apportbned dlrectty the one charliable acuvlty. 1.7 Fixed asset Investments Investments are a forffl of basic finanaal Instrvtnenl and are Inltlalty recognlsed at thelr transactlon value and subsequently measured at their fair value as at the balantr sheet date using the c1051ng quoted rnarket prlce. The Statement of Financlal Artlviknes Includes the net gains and lo arlsing on disposals during the year and fair value adjustment5 at the year end. 1.8 Taxatlon The Clty Charlty Trust Is a gIstered Charity and Is Mt liable its Income or capital gains tsxe5 on Its present activlties. 10
THE crry CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (CONTINUED) 1.9 Debtors Debtors ore recognised al thelr settlement atnount, less any provtsion for non-recoverabillty. Prepayments are valued at the arnotjnt prepald. 1.10 Cash at bank and in hand and short term deposits Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from rhe date of acqu15Itlon. Deposlts for more than three months but IS than one year have been disclosed ag short term deposits. 1,11 Creditors Creditors are reCniSed where the Charity has a present obligation resu19 from a past event that wlll probably result In the transfer ol funds to a thlrd party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are usually recognised at their settkment amount. 1.12 Crltlcal accounting estlmates and areas of judgemènt Prep3radon of the accounts requlres the Trustees to make slgnlfiont judgernents and estimates. The iteffls in the accounts where these judgements and e5tirnate5 have been made include Income recognltlon, DONATIONS AND LEGACIES 2025 2024 Legades ELO,933 £3,476,922 A significant legacy was recelved by the Charlty durfng the course of the prevlws year. The remalnlng balance was re1Ve In 2025, INVESTMENTS 2025 2024 Incorne from listed investments Brokers Interest 114,851 73,935 £117,100 £75,149 CHARABLE ACTIVITIES 2025 2024 Grants (4.11 Support costs {4,2} 90,000 44,000 É114,830 £63,788
THE CTfY CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES (CONTINUED) 4.1 Grants payable Grants during the year comprlse: 2025 2024 Alex Lewis Foundallon ARC Children's Hosp1 South West Exmoor Trust Farms lor aty Children Hackney DoDfways HoTneslart Wesl Somerset League of Minehead Frlends The Mineheèd Hope Centra Trust Open DoDr Taunton Society for the Rellef of Distress Somerset Communlty Foundalon The Somerset Fund Somerset Wildllle Trust st Margarevs Hospice Taunton West ol England Youth Orchestra West Somerset Food Cupard Whltechapel Mlsslon 5,000 3,000 5,000 5,000 3,000 3,000 5,000 5,000 3,000 3,000 3,000 5,000 3,000 3,000 5,000 8,000 5,000 3,000 5,000 5,000 3,000 8,000 20,000 2,000 3,000 3,000 £90,000 £44,IK)O 4.2 Support tosts The breakdown of support Costs Is shown In the table below whlch Include governance costs 01 £3,240. 2024 2025 L37 Fees Independent Examlnation Fees {20251 Audll fee512024} Bank Charges Overseas Custody Charge5 21,456 3,240 70 64 14,868 4,920 E24,830 £19,788 TRUSTEES AND RELATED PARTY TRANSACTIONS During the period covered by these accounts both Trustees Alastsir Collett and Elizabeth Neale were Pèrtners at Broadfleld Law UK LLP lo whotn legal fees were paid amounting lo £21,456 {2024'. £14,868) for servlces provlded to the Trust. The Eslale of Sheila MacPherson from whlch the *acy was receivable in the year £10,93312024 E3,476,9221 was managed by BrOadfie Law UK LLP with Alastair Collett aLtSng as jolF)t executor under the wlll. Nelther of the Trustw rettlved any remuneratlon or relmbursemenl of expenses in elther the current or the previous year. EMPLOYEES There were no ernplOY durlng the year or the prevlous year. 12
THE CITY CHARrrY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS 2025 2024 Movement In Investments Market value as at l Aprll 2024 Transferred Investrnents Addltlons Dlsposals Realised galnslllos5esl Unreallsed galnslllossesl 3,554,428 152,648 3,049,465 2,469,525 12,443,235) 55,563 270,462 367,748 {409,2871 13,549 181,6101 Market value al 31 March 2025 £3,444,828 £3,554,428 C05t al 31 March 2025 £3,291,176 E3,263,393 Quoted InVtments with more than 5Vo of market value, which are considered to be materlal (2023: None). Value Value F&C Investment Trust GBP 0.25 Idelity Amerlcan W ACC 7.00 6.43 249,0 228,698 5.22 179,695 The carrylng amount of financSal assets measured at fair value through Income and expendlture wlthln Investments is £3,444,82812024.. E3,554,4281, DEBTORS 2025 2024 Estats of Shella MacPher50n HMRC Overpaid Taxation Investment Income 3TI,455 2,416 17,870 366,522 2,416 13,751 £397,741 £382,689 CASH AT BANK AND IN HAND 2025 2024 Metro Bank Account Charles Stsnley Account 54,822 31,409 52,760 20,071 £86,231 £72,831
THE CTfY CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 10. CREDITORS: amounts falllng duè wlthln oneyear 2025 2024 Legal lees Audlt fees Indeperbdent Examlnadon Fe Grants 16,794 6,336 4,920 3,240 37,000 £57,034 £55,256 LI. RESERVES Expendable Endowment Unrestrlcted Total 2025 Balance Brought Forylard At l Aprll 2024 Income Expendlture GainslLosses on Investments Transfers 8etrveen Funds Balance Carried Forward At 31 March 2025 3,471,626 483,066 128,033 (114,8301 3,954,692 128,033 (142,898) {68,061) (28,068) 168,061) £3,375,497 £496,269 £3,871,766 Expendable Endowment Unrestricted Total 2024 Balance Brought Forward At l April 2023 Income Expendlture GalnslLosses on Investments Transfers Between Fund5 Balan Carried Forward Al 31 March 2024 124,176 30,616 3,552,071 (44,0001 154,792 3,552,071 178,196) 326,025 {34,1961 326,025 3,055,621 3,055,621 £3,471,626 £483,066 £3,954,692 12, NET ASSEfs BETWEEN FUNDS Expendable Endowment Unrestrlcted Total 2025 Fixed Assets Current Assets Current Liabllltles 3,395,531 49,297 483,972 137,000) 3,444,828 483,972 (57,0341 (20,034) £3,375,497 É496,269 £3,871,766 14-
THE crry CHARrrY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 12. NET ASSEfs BETWEEN FUNDS (CONTINUED) Éxpendable Endowment Unrestrlrted Total 2024 Fixed Assets Cvrrent ksets Current Liabille$ 3,482,882 71,546 455,520 144,0001 3,554,428 455,520 {55,2561 (11,2561 £3,471,626 £483,066 £3,954,692 13. TAXATION The City Charity Trust is a registered charity and is potentlally exempt frorn kxatton In respert of income and capital gains received wilhln the cate9ories covered by Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxatlon of Chargeable Galns Act 1992 to the extent that such Income or gains a applled to charltable purpose5. 15-