Charity number: 265359
The Nancy Kenyon Charitable Trust
Trllstees, report and finaneial statements
for the year ended 5 April 2023

The Nancy Kenyon Charitable Trust
Contents
Page
Legal and adminisirative infomiation
T￿stee$ report
Independent examiners, report
Statcmcnt of financial a¢tiviti¢s
Balance sheet
Notc% to thc financial statcmcnt
7-13

The Nancy Kenyon Charitable Trust
Legrdl and administrative information
Charity number
265359
Registered oftfice
Meads Batn
Ashwell Business Park
Ilminster
Somerset
TA19 9DX
Trustees
Lucy Susanna Bee Phipps
Sally Maria Kenyon
Peter Richard Kenyon
Kieron Richard Jame￿ Kenyon
Sarah Kenyon
DaNid Alexander Kenyon
Emily Mary Sarah Kenyon
Accountants
Brook Financial Management Limited
Meads Barn
ASh￿'t11 Business Park
Ilminstcr
SomcTSCt
TA19 9DX
Bankers
Bank of Scotland plc
St James, Gate
14-16 Cockspur
London
SWIY 5BL
Independent Examiner
Albert Goodman LLP
Goodwood House
BlaLkbiuuk Paik Aiienue
Taunton
TAI 2PX
Page I

The Nancy Kenyon Charitable Trust
Report of the trustees
for the year ended 5 April 2023
The trustees present tl)eir annual report and financial stateinents of the charity foT the year ended
5 April 2023. The financial s(atements have been prepared in accordance witli ihe accounting
palicics %ct i)ut in notc I to thc account8 and comply with thc charity's trn%t dccd, thc ChaTItic8
Act 2011 and Accountinss and Reportinb by Charities.. Statemeiit of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
Structure) governance and management
The principal governing docutnent is a trust deed dated 18 Decetnber 1972. The Settlor of the
Trust wa5 Mrs Nancy Bee Kenyon. The Tn]st 15 a private chaTltable tn]st coniTolled by its
trusiees.
Trustees recruitment and induction
The current Irusi¢es are all relatives. New trugtees are invited to join when vacancies arise. It
is probable that any future trustees will also be family members or professional advisors. New
trustees are pruwided with Lt Lvpy of the Trust's ¥ovttnin¥ doLuinent, minutes ul'pitviuus trustee
IneetingFs and an infotmatitsn pack Includingi Cl)aTity Cominission publication5 detAiling trustee
dutie5 and respon5ibilitie5.
Objectives and activities
In planning thc activitic% for thc ycar thc trnstccs kcpt in mind thc Charity Commission's
guidance on public benefit at the trustees, meetings.
The incoine is to be used for chatitable PUTposes as per the objects in the govetninbi document.
The fundamental principle 15 to help sinall orbiani5ations ratlier than larbTe ones. The Kenyon
family philosi)phy has alway￿ bc¢n to hclp individuals, M,ho had talent but wcrc lacking with
fundq, and thc trustcc8 cnnfimi thcsc objectlVC8 rcmain unchangcd to this day. Thc tru%t¢c% havc
additional power to apply capital and income for such objects orpU￿0$¢s (whether in the United
Kingdom or elsew,here) being ¢haritable objects or purposes according to the law of England as
they may fTom time to time iii their ab501ute disLretion detennine.
During the year donations totalling £102,628 were made to various charities, charitable
organisations and persons engaged in SPOllsof511ip projects in accordance ￿'it11 the terms of the
trust. The trustees intend to continue this policy of distributing ihe net annual income with
additional payments froin capital if coi)sidered appropriate.
Investment poii'ers
The trubtees have very wide investment powers and have appointed Vartan Ravenscroft as their
invebtment adviseib.
Financial review
The appoiiited investTnei)t advisers inanage the trust investihei)ts on a discretionary basis. Ti)e
iiivestment objectlve 15 to get]erate the optimum amount of income for distiibution H,hilst at the
same tiTne investing tor capital gruw'th ol. the portlolio. The tTUSteeb consider the bix Tnonthly
iepoitS P[￿lUCed by the invebtment managers and cumment if necebsary. Foi the yeai ended
5th Apiil 2023 the trustees wete batibfied with the perfv[M£￿Le ol'the portfoliu. The total
mount of investments held (It Illdrktt Vdlue did drup from £1,992.599 tt) £1,734.810 but thib
was to be expected given wider Inarket conditions and as a result of the Trnstees deciding to
donate inore than the income received during the year.
Page 2

The Nancy Kenyon Charitable Trust
Report of the trustees
for the year ended 5 April 2023
Reserves
The curreni policy of the trust is to disiribute all the income each year and not to accuinulate
reserves.
Risk m#nagen)ent
The trustees do not consider that the charity is exLX)sed to any rnajor risk, orher ihan fluctuations
in the value of the share portfolio. They have delegated management Lif the portfolio to
professional managers and review their perfom)anLe.
Statement of tru5tees' responsibilities
The trustees are responsible for preparing ihe Trusiees. Annual Repoff and the financial
tatcmcnts in accordancc with applicablc laiv and Unitcd Kingdom Accounting Standard8
(United Kit]gdoin GeneTally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial
tatements for each financial year which give a true and fair view of charity'.% financial activities
during the year and of it5 financial position at the end of the year. In preparing financial
slaiemenis giving a true and fair *iew, the trustees are required to:
select suitable aecouniing policies and then apply tl)em consistenily,.
obscrvc thc mcthads and principlcs in the Charitic% SORP
make judgetneiits. an(1 estiinateS thdt ale iedSOTldble anil pruilent-
stste whether applicable UK Accounting Standards have been follliwed. subjeci to any
tnaterial departure% disclosed and explained in the financial %tatement%; and
prep￿¢ tht linthLial statements on the ¥uin¥ LU]ILtrn bablb unless it is inappropriatt to
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which diselose with
reasonable accuracy al any time the financial position of the Charity and enable them to ensure
that the financial statements comply with the ChaTities Act 2011 and the Charity {Accounts and
Reports) Regulations and the trust deed.
They are also responsible for safEgU￿dIng Ihe asstis of iht Lharily and hence for ￿kIng
rcasonablc st¢ps for thc prcvcntion and d¢t¢ction of fraud and othcr irr¢gularitics.
The trustees are also responsible for the maintenance and integrity of the charity and financial
iiifoTiiiation included on the charity's website in accordance with legFi51ation in the United
Kingdom governing the prepaiation and disbeinination of financial statema)ts.
On behalf ot the board
Eeh
oh
Peter Kenyon (Feb S, 20
Peter Richard Kenyon
4 12..36 GMT)
Page 3

The Nancy Kenyon Charitable Trust
Independellt Examiner's report to the trustees of The Nallcy Kenyon
Charitable Trust.
I rewrt to tlie charity trustees on Tny examiiiation of the accounts of tl)e charity foT the yeai ended
5 April 2023 set out on pages 5-13.
Responslbllities and basis of report
As the charity'% trustees you are respon%ible for the preparation of the account5 in accordance with
the requirements of the Charities Act 2011 I'the A¢t').
I report in respect of m}, examination of the charity's accounts carried out under section 145 of the
ALt and in tarirying out my exainindtion J have followed all the applicable Directi01i5 given by the
Charity Commissioji under section 145151(b) of the Act.
Independent examlner's statement
I haN'e Lompleted my txaminatiun. l Lonfirm that no material mattels have Lurne tu mv attention in
connection with the examination giving nie cause to believe that in any material respect..
l. accounting records were noi 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 aLLounts du not Lomply with the appliLdblt requirerneiits. LvnLetnin¥ the IOTM Luntent of
iILLuunts stt out in the Chdiitieb IALLountb Reports.) Rtbwulations 2008 other than any
requirement that the account5 gTive a tTlle and fair view, which 15 tiot a matter considered as part or
an ind¢p¢ndent ¢xamination .
I have no concerns and have come across no other matters in connection with ihe examination to
whiLh attention bhould be drawn in this report in order to enable a proper understai)ding of the
accounts to be leached.
Michelle Ferris Bsc (Hons) FCA DChA
Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
TAI 2PX
Date 0510212024
Page 4

The Nanc}, Kenyon Charitable Trust
Strdtement of finaneial activities
For the year ended 5 April 2023
Unrcstriftcd
Unrcstrieted
2023
2022
Total
Total
Notes
Incoming resources
Incoming resources from generating funds..
Tnvestment income
84,076
77,019
Total incoming resources
84,076
77.019
Resources expended
Donations
Cost of trustees. meetings
ALcountanLy fees
Independent examineT'S fees
InveslJnent Mat]ageinent Fees
Exchange Igainslnosses
Other expenses
102,628
131
2.340
1.008
5,755
(1881
83,627
2.940
900
6,555
Total resources expended
111,689
94.046
Net incoming l (outgoing) re$our¢es before
other recognised gains and losses
127,6131
{17,027)
Other reeognised gains and losses
Profit/(105sI on di5P05al of investments
Increasel{decrease) in n￿rket value of investments
119.9121
(216,403)
25.555
83,509
Net movement in funds
(263,928)
92,037
Total funds brought fonvard
2,164,119
2,072,082
Total funds earned forward
1.9QO,191
2,164,119
Th¢ stat¢m¢nt of financial a¢tiviti¢s includes all gains and loss¢s in th¢ y¢ar and th¢r¢for¢ a s¢parat¢ stat¢m¢nt of total
iecognised gains and losses l)as not been prepared.
All of the above amounts relate to continuing activities.
All funds held by the trust are unrestricted funds.
The notes OD page5 7 to 13 fortn an integral part of these finaThcial statement
Page 5

The Nanc}, Kenyon Charitable Trust
Balance sheet
as at 5 April 2023
2023
2022
Notes
Fixed A5setS
Listed investments at market value
Programme related loans
1,734,810
2,528
1,992,599
1,737,338
1,994,790
Current assets
Bdnk uf SLotland aLLount
Funds held ivith Kiva
Funds held ivith Vartan Rav¢nwroft
In¢om¢ tax rccov¢rabl¢
Accrued Income
7,996
59
156,675
39,011
186
153,255
1,097
1,066
167,147
193,549
Creditors: amounts falling
due within one year
14,2941
124,220)
Trlet eurrent assets
162,853
169,329
Net asset5
1,900.191
2,164,119
Funds
Unrestricted income funds
,900,191
2,164,119
Total funds
1,900,191
2,164,119
The financial statements were approved by the trubtees and signed on theii behalf by
Pcter Kcnyon (Feb 5, 20
4 12.'36 GMT)
Peter Rlchard Kenyon
The notes OD page5 7 to 13 fortn an integral part of these finaThcial statement
Page 6

The Nancy Kenyon Charitable Trust
Iyotes to the financial statements
for the year ended 5 April 2023
Accounting policies
The principal accouniing policies are summarised below. The accounting policies have been applied consistenily
throughout the year and the preceding yeaT.
1.1. Basis of preparation of actounts And consideration of going eoncern
The accounts have been prepared under the historical cosi convention with items recognised at cost or transaction value
uiile55 othetwise stated in tlie ielevant notelsl to these accounts. The fiiiancial statement5 have been prepared in accoTdanc£
with the Statement of Recominended Practice.. Accounting at]d Reporting by Charities prepai'ing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and the Republic of ITeland {FRS 102) issued on
16 July, 2014 and the Charities Act 2011.
The Tiustees Iiave Lhusen to early adupt tht Upd(It¢ Bulletin l issued by the Ch￿ritieS Cornjnissiun un 2" F¢b[u￿, 2016
which exempts the charity from the need to prepare a Statetnent of Cash Floivs.
The trust constitutes a public benefit entity as defined by FRS 102. The Trustees consider thar there are no material
uncertaii)ties about the charity's ability to continue as a goii)g concem.
1.2. Cashflom,
The charity has taken advaniage Lifthe exemplion in FRSI from the requirement lo produce a cashflow slatement because
it 15 a small chdiity.
1.3. Income
All income is recognised once the charity has entitlement to the inLome, it is probable that the inLome will be reLeived and
the amount uf inLume reLeii'able Lan be me(tsured ieliably. Dividend inLtsine is included net of non-recoverable tax credils
Interest on government securities is paid ¥ross to tlie trust and shown gross.
Income from invesiments is included in the year in which it is receivable.
Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the Charity
to
thai expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Page 7

The Nancy Kenyon Charitable Trust
Iyotes to the financial statements
for the year ended 5 April 2023
1.5. Investments
Inv¢stments are stated at th¢ir market value at the balan¢¢ sh¢¢t dat¢. All inv¢stments held are quot¢d on a reKogni5¢d
stock exchange and are listed in the atta¢hed appendix.
Realised gain% and los%es on di%po%alq are caleulated by cotnparing the net sale proceeds with market N'alue at 5April
2022 or later acquisition cost.
Unrealised gains and losses are cal¢ulated by comparing the values of the investments held at 5 April 2023 with their
Inarket values at 5 April 2022 01 their later acquisitioii cost.
1.6. Programme related loans
Pro￿arnMe related loans are included in the balance sheet at the amount invested less any impaim)ents and any amounts
repaid. Impairnienis are charged to resources expended on charitable activities in tl)e smremeni of financial aciivities.
Similarly, a loan 5ub5equently converted into a Ssrant 15 char¥ed to charitable activitie5.
Where a gain is made on disposal of a piogramme related investmenL then the gain is either set off against any prior
iinpaiTment Ios5 or included as a gain on disposal of fixed as5et5 forthe charity's own use and recorded under other incoming
rcsoiirc¢s in th¢ statcincnt of financial a¢tiviti¢s.
Foreign currencies
Monetary assets and liabilities denominated in foreign cutTencies are translated into sterling at the l'ates of exchange
prevailing at the accounting date. Transactions in foreign currencie.% are recorded at the date of the transactions. All
differences are taken to the statement of financial activities.
Charitable Donations
Thcsc arc accountcd for oncc approvcd at a Tru8tcc% mccting and unconditionally duc to the
charity.
1.9. Value Added Tax
Value Added Tax is not recoverable by the Chaiity and as such, is included in the adininistTation costs in the Statement
of Financial Activitics.
Page 8

The Nancy Kenyon Charitable Trust
Notes to the financial statements
for the year ended 5 April 2023
1.10 Financial Instruments
The ¢harity only holds bagic financial instwments &s defined in FRS 102. The fjnancial assers and financial liabilities of the
charity and their measurement basis are as follo￿'S..
Financial assets- trade and otheT debtors are basic financial inst￿[nentS and are debt instriunents measured at amortised cost as
detailed in note 8. Prepayjnents are not fjnancial instniments.
Cash at bank- is classified a5 a basic fiiiancial instruinent and is measured at face value.
Financial liabilitic
tradc crcditors, accruals and other crcditors arc flnancial in%trumcnts, and arc mcaqurcd at amortised cost
a8 dctailcd in notc 8. Taxation and social gecurity arc not includcd in thc fjnancial in%trumcnt8 di%clo%urc dcfinition. Dcfcrrcd
in¢ome is not deemed to be a financial liability, a% th¢ ¢a8h %ettl¢m¢nt has alr¢ady tak¢n pla¢¢ and th¢re is an obligation to
deliver seLTrices rather than cash or another financial instrument.
2. Investment Income
2023
2022
Total
Total
Jncon)e from UK listed investments
Income from non-UK li8ted In￿estments
Fixed interest from UK treasury stocks
Interest received
49,981
22.496
10.533
1.066
49,184
17,432
10.403
84,076
77,019
3. Donations
2023
2022
Nancy Oldfield Trust
One More c.hild
The Nehemiah Pniiect
The Good Sheplierd Project
The Elizabeth Ann Charity
AllsorLs Cjlouccstcr
Stsr College
Cheltenham Open Door
15.250
5,000
3,000
3,000
2,000
2,000
4,000
2,000
15.000
5,000
3,000
3,000
2,000
4,000
2,000
Page 9

The Nancy Kenyon Charitable Trust
Notes to the financial statements
for the year ended 5 April 2023
Other Individiials
The Family Haven
Kiva (including default loans)
Norfolk Community Foundation
RISE UK
1,000
2,000
27
2.000
122)
6.0￿)
5,5(X)
2,0(X)
5,000
2,500
3,000
4,200
2,000
5,000
2,500
3,000
3,000
3.000
600
2,000
1,000
Glouce5tei'shire Youiig Carers
Aylshain Care T￿st
Queens PaTk Primary School
Project Nepal IACS international Schools Ltd)
Papworth Trusi
Special Effect Charity
Devon County Council re Grant for LR
Pawan IPaki5tanl
Ellin Christldn Centre- Chelt. Foodbank
Clock Tower Sanctuary
Ri￿nyt￿ede Food Bank
The Funding Network
North Norfolk Food Bank
Holt Deanery Synod
Ashchurch PCC of St. Nicholas
KiiibTdom Conipa5SIOTI
AcoTn Chaplaincy
Somcr%ct County Collncil
Bcthan Dunn
R.S.R Chitty- Columbo
Laces Communily Club
Queens Park Primary School- Unsuccessful prior year donation
Parochial Cl)urch Council of Hambridge
Kevin O'Brien
The Three Pillars
3.000
2,0(H)
2,000
2,000
2,500
1,000
2,000
3.500
2,000
1,500
800
1,500
5,000
i.uoo
12,500)
3.500
2,000
1,500
400
5.000
1.000
l.O(K)
2,000
2,000
500
500
2.500
1,000
1,00
500
1,000
4,000
3,000
I,o(10
Young Mind
Caxton Youth Organisation
River ALtion UK
Rewriting Extinction
Youth Environmtntal Services
The StTeetlife Trllst
Vulcan Lcarning Ccntrc
Danicl Spargo-Mabb% Foundation
Oblique Arts
102,628
83,627
Page 10

The Nancy Kenyon Charitable Trust
Notes to the financial statements
for the year ended 5 April 2023
Fixed a55et investments
Listed
investment5
Total
2023
2022
Valuation
At 6 April 2022
Addition
Di%posals
Revaluations
1,992,599 2,022,238
456,632
364,980
(498,018) 1478.128)
(216,403)
83,509
At 5 April 2023
1,734,810 1,992,599
Historical cost as at 5 April 2021
1.728,474 1,728,319
Programme related loans
Kiva LoaDS
Total
2023
2022
Cost
At 6 April 2022
Additions- Loans granted
Disposals- Loans repaid
2,191
1,938
11.601)
2,412
1,767
11,988}
At 5 Apiil 2023
2,528
2,191
Net book Nalues
At 5 April 2023
2,528
2,191
At 5 April 2022
2,191
2,412
Pagell

The Nancy Kenyon Charitable Trust
Notes to the financial statements
for the year ended 5 April 2023
Creditors: amounts falling due
within one year
2023
2022
ALcrua15 and deferred income
Grant commitments inade but not paid
3,894
400
4.620
19.600
4,294
24,220
Related party transaction5
Mr Michael Kenyon. a relative of the trustees is a partner of tlie charity's investment advisors, Ravenscroft. In the
year to 5th April 2023 Ravensciolt were paid £5,755 for management fees and £1,350 for COTnmibSIOTI. In the year
to 5th April 2022 Ravenscroft ￿'ere paid £6,555 for management fees and M'ere paid cornmission of £1,265.
Page 12

The Nancy Kenyon Charitable Trust
Notes to the financial statements
for the year ended 5 April 2023
Financial Instrument
8 Financial instrurnenl•
CatepTiUtiDn of f￿&￿¢7*1 ill5trDments
F#W￿l*S1￿$ debi insuwwDisme45wedat •rdortude05t
169,074
1,734,810
195.740
1992J94t
I,SW,484
,188,?39
4294
24220
Itens of inrome, expeA5e* 8ain5 losse5
knt•me
EwDSt )eig*in3 Yei 108sei
F￿aT￿l￿*￿tS tbat ue debt iostrwneDI* JDMswedat •DprtiwJ¢wt
Flluntsaiasseis at f*r%xbJt tw IheFYofit •tyJloss *eoMt
84,076
230J15
,076
230JIS
FmarKialwts at hir lilue throuth theprofit aDdt05S
77,019
Ic•,
77,019
ICg,063
Page 13