THE ROBERT GAVRON CHARITABLE TRUST
REPORT AND FINANCIAL STATrMENfs FOR THE YEAR ENDED 5TH APRtL 21Y24
CHARITY NO. 268535

THE ROBERT GAVRON CHARITABLE TRUST
PAGE I
FINANCIAL STATEMEKfs FOR THE YEAR ENDED 5TH APRIL 2024
CONfENTS
PAGE
Generkl Infonnation
TrLthes' Report
Auditors, Report
Staten￿￿ of Financial AGtiwities
Balattce Sheet
io
Statement of Cash Flows
Note5 to the FiThoncsal Stat¢Th¢nts
12- 17
Schedule of Cash Charithl¢ Dollations Paid
18

THB ROBERT GAVRON CHARrrABLE TRUST
PAGE 2
FtNANCIAL STATEMEwfs FOR THE YEAR Ehl)ED 5TH APRIL 2024
GENERAL INFORMATION
SErrLOR
Lknrd Gawon CBE (Deeeased)
DEEDS
Settlement dated 31st Juty 1974
REGtSTERED
CHAIUIY.NO. 268535
REGISTERED 27 MaywiD Drive
ADDRESS
HornchLrch
Essex
RMII 3ST
TRUSTEES
Dr Katharine Susan Gavron (Chair)
Jessica Lgah GaNTOll
Sarth Ga￿)Th
MAIN TERMS The tr￿st¢eS are dwected to hold the copit81 and income of the trust fund for Such c￿l￿b]e in5titutiODS
or charitable purposes 45 th¢ tNstees shall frojn tin￿ to time in th¢ir absolute disttetion determine.
DtVESTMEfqT
POWERS
The trust¢ey have very wide investnient POWa5.
BANKERS
Hand¢15bank¢
2nd Floor, High Hill Ho￿e
6A HaTnp5tead High Str¢¢t
Londo￿ NW3 IPR
SOLICITORS Dechert LLP
160 Queen Victoria Street
London EC4V 4(5
FUND
Sehroder & Co Limiled
MANAGERS 12 M￿rgate
London
EC2R 6DA
Ruffer LLP
80 Victoria Street
LondDn
SWIR 5JL
AUJ)froRS
Pr¢ntis & Co LLP
Charte￿d Accountants & Statutory Auditors
115c Militsll Road
Cambridge
CB4 IXE

THE ROBERT GAVRON CHARFfABtE TRUST
PAGE 3
FtNANCIAL STATEMENTS FOR THE YEAR E￿￿ED 5TH APRJL 2024
TRUSTEES, REPORT
The Tnths present tbeir rewt 4lld fjnallcial statements for The RoF*rt Gavmn Charttable Trust (the "Trust ) for the
year ended 5th April 2024. The financial state￿ents hav¢ b¢¢n prepared ￿ accordan¢? withlthe acwuuling poliGi¢s SEL out iti
note I to the financial staternents amd comply the charltys tn]st the Cb#rities Act 2011 and Accowrting at)d
Reporting by Chariires.. Statemellt of Reeornll￿nded Practice applicable to charities ptepaTing their finaucial statern¢nts in
accordance w'ith the Financlal Reporting Statul8rd applicable in the UK and Republic of Irejalld (FRS 102)(efftctive 1st
Jauuary 2019).
STRUCTLRE, GOVERNANCE AIW MANAGE￿Er
Governlng DocumeDt
Th¢ TTUSt is w]stituted by a Trust Deed dated 3 1st July 1974, and its objective5 are Yery wide ranwng. The appoInt￿¢￿t of
Trnstees is governed by the Dttd. It ￿ registered &8 acknity with th¢ fvity com￿1￿10￿.
Oryank$2tlon
The Trustees me¢t forn]alty approximaiely four t]rn￿ tkn)ugh￿rt the year.
They a￿# the broad strategy and areas of adivity for the Tn￿[ and cotk8ider individual gTant-nMking and Éhe invesknent
portfoliu perfomiance at every meeting. Any actions tsk¢n b¢tw¢¢n Tn]stees' meetings are ￿sIdered &8 P8rt of the agenda
and ￿inut¢d aud Tatifi¢d apptOPTiat¢ty.
Research iuto r¢rtain graTIt appli¢ations and Dew PTojects to be supported is C￿led oyt by the TDJSt Administrator, who visits
and repons on new opplicants to a￿lst the Tr￿ in ll￿killg decisioDs.
The Trust Administrator is the only employee of the TrnsL The daY-￿daY adminlstration of d)Èrirable grants as well &$
financial rnanagem¢nt. risk manag¢meDt and governance issues are Carri￿ out by him under the guidance of the Chair of
Trustees,
Truste£¥' Induetlon and Tralrxlng
The process for tbe indurtion of new TEwt¢￿ coJJJprise5 IneetiTrgwith the Chair of Trustees and other Tnwte¢s, alld new
Trustees are also provided with cU￿¢llt end previous Amiual Report8 alld Acc4)UDts. In addxtiofy Trnstee9 are offtfed
ining in th¢ duti¢s of ¢hariteble trust¢es.
RESK MANAGEMELYT
The Tn￿CeS have reviewed all the nmjor risks the charity fa¢es aod have e8t•blish¢d systew and contingency plalls to
mitigate the￿. Ill partiadar:
(a) Resvves have been reviewed and are collsideTed sufficientto ¢Dabl¢ the obje£tives to be achiev￿ in the tlleditmi
temi.
(b) Investments arv suitsbly mad¢ so w lo protectthe cbarttys TeserwJ aud aTe mad¢ withill guidelill¢s 5¢t out by Itgi8latiQD
and the Charities ConMnis5ion.
(c) Key intemai controls have been Teviewed &Tf considered sufficient. The TDJStee5 haye direct wntrol ov¢r key
financial sfftjns.
(d) Donee5 are suitably vetted for their charitable credentia]s before donatiODS are made.
(e) Tbe Trustees consult profelsional advi￿5 froln tillte to tKTDe to ensure tbat the c]wiWs obligations are being fulfilla.
(f) Adequate measures in place in the eveTht of the charity ceasin(r to 0￿.
(8) Risk pjlicy is r¢viewed peTiodically at TTUStee3' Meetings.
OBJEcfivES AND ACTIVITIES DURING THK YEAR
Tbc T￿￿te¢S bave ￿ntin￿l to operate as they did undeT the leade￿IP of th¢ 8ettlor and Chaii of the Trus(
Lmtil his death in Febrnary 2015.
Th¢ Trust ha5 SUPPOrted a sitllilar range of Ch￿itable L7U5es as in previous year4 the principa] yrgas of support being 8¢¢e88
to the arts, education, charities working in prigons, humAn rigljts aDd ch&Tttte5 for the disabled. ]n additio￿ the growing need
for food banks has led to a number of donations to food bath and related Cl￿111es.
Support given to charities been in the forni of mojketary donations made at the discretion of the Trustees. A list of the
I￿ger grants 15 given on page 18 of this rep(

THE ROBERT GAVRON CHARffABLE TRUST
PAGE 4
FfNANCIAL STATEMENTS FOR THE YEAK ENDED 5TH APRIL 2(f24
TRUSTEES, REPORT.......JroDtinued
The Trustees continue to give SuP[￿)rt in the forni of either on¢-off 8mts or commitments to donations spread overmore
tharA one year, and the Trust's reserves remain sufficient for existing COJDmituKnts. Wh¢ll the Tntstees comn)it themselves to
making donations over s¢Y¢rnl years thes¢ ¢OTnmitrnents are reflected ill the Tntsvs annual accounts in the form of dollations
charged to accumulated income and shown a8 designated bjnds in the balaDce sheet. The Tntstees believe that it is
help￿1 foT tbe beneficiaries to know what they 0￿Y expect find whell to expect the promi9ed fiJll¢lg foT the purp)ses of their
oThn plaDlling.
In tbe p¥st year the ulliversity access sth¢rlle at MoTtth School in Tower Handety LA)nd0￿ which wa5 set up th¢ w¢mory
of Lord GavroD, ha3 ¢outinued to encourage studeuts to aspire to untversity education. This is illt¢nd¢d in particuLar for
stydents from fa￿llIeS without a bsstory of tertiary education. The school h&$ designed a progrdmme to CTeate int¢rESt in
universty among both students and their faroilies fjr￿. and it a150 includes bw5ariss for exceptional students.
Among the other larger grat)ts have been dOnatio￿S to thrities with vknicb the TTus*% th¢mselve5 are or have be
comitcted &$ TnL%tees and advisors (see note on p.18). The long4erm donatiorL5 giyen to the Barbados Cri¢ket A$S￿l4t10
which hav¢ been used for the enCOuragen￿￿t and nurturing of promising young cricktters, have resulteé a number of
winners of the Lord Gavron Avdrd playillg in the West Indies teams over the years. This 15 a Vindication of both the sch¢￿¢
and of th¢ 8¢1e¢tQTS of tbe B￿bad0$ Cricket Awiotio
Small Grants.. many Ca￿ the TTUStee5 PTeferto make gT4llts to Org￿]ZatiOns whose WO￿ they personallyknow
admire. This does noL however, mean that charities Unknown to the TnL8tees persoDaLty do not receive ￿ts. Anthony
D8nce, the Trnst Adtninistrator, visits and reports OD solne applscations to the TTUSt and bi5 reports are taken into account
by th¢ Trustees when they rnake tbeirdcci.%iQDS. This leads to a llUEDber of grants to new organization5 duTing each
fiDancial year. These include small charities working iti are&s wbith cannot ￿lty rdise fimds attd which ftre without the
resources themselves for prof¢8sioJJal fuNI-raising. The TnLSt h&s also continued to help pr¢vious]y fi]nded stDall c}￿ritIeS
which Come into th¢se categories.
At present th¢ TnLSt is fully conuTritted to its existing arw of iDt¢r¢st and is utdthcty to cbange its fijnding PTiofities in tbe
fore8e¢able ￿ture.
PUBLIC BENEFIT
The Trustees are satisfied that the Tn￿ itself and (so far &$ the TnLStee8 can &8certsin) the organisations wbich l]ad yupport
&Te operating for the public benefit.
FINANCIAL RKVIKW
The T￿￿'S regular is 8£lleTated froffj invcslttwts and th¢ Tntrs will to rDOnitor irÈvestr]ent pK)liLy closely
during the course of the next fiDan¢ial year. At 5th April 2024 the bth)k value of the i￿veStments was £8,530.435
(2023.. £8.767.760J and their market value at that d*¢ was £9,886.796 (2023: £9.447.206).
Th¢ balance of the in¢ome come frotD interest CaTDed on deposits b¢ld with th¢ TTusVs baDkers and fundm8magers.
INVESTMETrIT POLICY
The Tn￿tee9 bave very wide investment wwers to manage the TrllsV5 assets. The Char of Tnths, along with a
independent financi&l advisor, is responsible for meettng with the fund managers three times annually and r¢viewin8 the
p¢rfomiaDce of the inv¢5tm¢iit portfolios. Th¢ independcnt financial advisor giv¢5 addibond advice on the illve5l￿ellt
alld banking decisions. Reports are given to the Ttimees ai the quarterty Trustee Meetin&4 on inveslrnent4 r¢5¢rye5
risk management.
RESERVES POLICY
The Chariry has a ￿lIcY of maintaining sufficient reserves to cover existing Con)￿ellts those of thE fortbcoming
year, donations due and its adtni]llstratfftve obligatiow. No upper limii is ¢onsidereJ ne¢¢>88ry to b£ set for the level of
reserve5.

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 5
FINANCIAL STATEMEwfs FOR THE YEAR ENDED 5TH APRIL 2024
TRUSTEES, REPORT.......Jcontinued
KEY PERSOLYNEL ￿ND PAY POLICY
The Trustees Gollsider th¢ Board of TTUSt¢es and Anthony Dance (T￿￿ Athninistrator) to be the key m&nagement personnel
of the ¢lwity in charge of directing and CODtrollillg tbe ¢harity on a day to day b￿15. All TrL￿e5 give their tirne freely and
no Trustees, rernulleratiOD or expen54s w¢r¢ paid in the year.
TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL sfATEMENrs
The Charitys Tnjstees are resEKJnsible for weparing tbe Tn￿. annual report and financial statements in accordance with
applicable law and Unifrd Ki￿gdoM Ar¢o￿tIng Standards (United Kingdom GeJ]er8lIyAecepted Accountllig Practice).
The law applicable to charilies in Englaud and Ivales requires the cbarity's TDJstees to prepatt fjnaDcial ststements for e8¢h
year which give a true and fair view of the state of affairs of the chartty 8nd the incoming Tesources aDd application of
re80urces. of the djarity for that period. Jll preparing the finAllcid sratements. the TT￿￿1¢¢5 are r¢quir¢d to:
5elec¢ suitable aexo￿tillg policies al￿ then apply the]n consisteotly,
observe the methods and pri￿lPleS in the applicable Charitie5 SORP.
make judg¢ments and ¢stinTries that are reasonable and pruden¢
strte whether applicable accounting Swidards h8v¢ beeD followe¢ subject to any Mat￿illI dep8rture8 thxt
must be disclosed and explained in th¢ fjllancial st￿etlle￿.
Pre￿e the fi1￿CIAl statements on a goit)g Concern basis uttiess it is inappropriats to ptesume th&t the
Ch￿lty will continue irL operatiotL
The T￿81¢¢S are respOD81￿le for keeping prop¢r ac4ountttig r¢¢ord5 wtiicll disclose with reasonabl¢ ￿UraCY at w tiu
the fL￿ncIal posiiion of the charity and to enable the￿ to eDsure that the financia] slatements cornpty with the ChaTities Act
2011, the applicable Charities (Accounts and Reports) Regul￿10￿5 and the provisiffls of the Trust Dee& They are a]so
responsible for safeguarding the assets of the charity and taking reasonable steps for the preventiOD ynd det¢¢tion of fraud
and other irr¢gularities.
Dr Katharine S Gavron
Trnstee
For and on behalf of the Tru3t¢es

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 6
FINANCIAL STATETrLENTS FOR THE YEAR ENDED 5TH APREL 2024
INDEPENDENf AUDITOR'S REPORT TO THE TRUSTEFS OF THE ROBERT GAVRON CHARITABLE TRUST
optNION
We have audited the financial statements of Rob¢rt GavTon Cbaritable Trusi forthe yearended 5th April 2024 Thfiich
COM￿lse of the Statement of Financial Activities. tbe Balattce Sh¢eL StateTnent of Casb Flows and notes to the fllwcial
ststements. The financial re￿rtIng framework that knas been applied in theirpwtion is applicable law and United
Kingdom Accounting Stalldards, including FinancÉal Repthtillg Standard 102 The Fin8t)cxaL RepOrtti￿ Slulldard applicable
in the UK Republic of freIa￿(r IUDlted Kingdorn Generally Ac£eptEd Acwuuting Pr￿[1¢¢).
In our Opinio￿ the financial statements:
give a true ￿ fair view of the stste of the ¢baTiWs 4ff8ir5 a5 at 5th April 2024, of its expenditure for the yew then
ended,.
. have ￿ell propety prepued in aGcordaDr¢ wtth United Kingdom Genera]ly Ac¢¢pted Accounting Practice.
have been prepared in aceordanre with the requirements of the C]witi¢s Act 2011.
BASIS OF OPtNION
We conducted our audit ill ￿Cordance with IttternatioDa] Standards on Auditing ILK) (ISA3 (UK)) applicable i&w.
Our responsibiliues under thtJSE 5tslldaTds ar¢ fiwther descnkn in the AuditoEs respoJ]sibilities fortbe audit of the
financial statements 3eCtion of our reporL We independent of the cFthrtty in accordall￿ with th¢ ethical requirements
that are relevant ts our audit of ibe fin4D¢ial Statements in the tiK including the FRCS EthicaE Stalldu￿ and the provisions
available for Small ctLtitics, in th¢ circutn5tances set in nots 5 to the fllW)cial statements. alld w¢ have fi￿filled our other
ethical respon5Tr1 i]ities in accordance with th¢se rwuirements. We believe that the audit evidence we have obtsined 15
sufficient and appropriate to provide a basis for opinio
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the fmancial ststements, we have concluded that the trLEStev w of the going concern b&sis of accounting i
the PTep4ralion of the fi￿aTr¢Ial statements is appropriate.
Based on the work we have perf(￿led, we havE not idtntified any mateTial wicenatnties relattug to events or cotiditioms
that, Individually OT collectively, May c&st Si￿1￿¢￿nt doubt on the Tnjsvs abilTts'Éo continue as a going concern
for a period of at least tw¢lvr months from when the fiuall¢ial sfatements are authorised for isque.
Our iesponsibilities and the tespon5ibilities of the trustees with respectto going concern we d￿1b¢d in the r¢levatst
section of thÈs report.
OTHER INFORMATION
The other inforniation comprises the illf0nn0ti￿ included in the Tn]stees' Anllual Rem Dther thau the fjnancial
ststPDMits and our audt¢oVs report thereon. The tn￿teeS are resp)Dsible for the other inforrttati￿ Olf opioioll onthe
fmancial ststements does not cover the otheT infonnation anti except to the exteDt otherwise expiicidy stated in ourrepo¢
we do not express any form of pssurance concI￿lOn tbereorn Ill connection with our audit of the finaucijl stst¢llwt5,
our responsibility 18 to read the oth¢r illfoT]nation and. in doing so, eonsider whether the other information is materially
inconsistent with the fll￿]Cial ststements or our kno￿ledge obtsined in the audit or otheThise appears to b¢ rnalerially
]nisslate¢L If we ide￿Ify 8llch Nalerial inconsistellcie5 or 4ppar¢nt maleTial missratsmenty we art required to deternine
whether there is a tnaterial misstatemellt in the fjDancial statements or a material mis8tatcmcnt of the other inforniatiOJL
If, based ou tb¢ work we have perfomie4 we Gonclude thatth￿¢ is a D￿terIal missiatement of this other itifornMti0￿ we are
required to re￿rt that fact.
We have nothing to report ill thls regar(L

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 7
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APBJL 2024
INDEPENDENT AUDITOR'S IIEPORT TO THE TKUSTEES OF THE ROBERT GAVRON CHARrrABLE TRUST
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEFnON
We have nothsng to report in respect of the followillg matters where tbe CFwriti&S Ad 2011 r¢quires us to report to you
1£ in our opinion-
the information given in the Trustees, Annual Report 15 illCODSi5tent in anymatttial respect witb the finm¢i418tatements' or
the charity has not k¢pt 4d¢quate ￿COuntIng records,. or
the financial statements are not ID agreement with the a￿Ounting records arnd or
we have not ryeiyed a]1 the inforniation at)d explanatiOJL% we require for our audiL
RESPONSIBILITIES OF TRUSTEES
As explained more fijlly in tbe tn]st¢¢s' reswnsibilitieg slatemeDt ID the Tr￿st¢<5' Anyjual Repor¢ the t￿￿S are responsible
for the pr￿￿ation of th¢ financial statements alld for I￿Allg sati5fi¢d t1￿ theygive a true and fair view, and for such inlemal
control as the trusttts detern)ine ts nere5sary to ethle the preparation of fillaDcial thtem¢uts that are free from rnaterial
i5state￿¢llt, whether due to fraud or emw.
In preparing the fiuaucial statements, the tr￿￿tee8 8re respO￿8￿J]¢ for asse5SiDg the cbaTitys ability to continue ￿ 2 going
Conce￿ disclosin& as applicabl6, tDatters related to going concern and usitig the going con¢ern ba51$ of accounting UDle&s
the tmstEes either iDknd to liquidate the rharity orto cease opeT&tion& or have no realistic alternative but to do so.
The trustees have elected forihe f￿anCIal ststeraellts to Ix audited in ac￿rdanCe *ith the Charities Act 2011. Aryordingly,
we have been appointed as auditor under sectton 144 of th¢ Charities Act 2011 Alld reFK>rt in aocordanc¢ with regulations
mad¢ u￿1¢r s¢clioD 154 of that Act
THE EXTwf TO WHICH OUR PR(￿EDUREs ARE CAPABLE OF DETEcrrNG IRREGULARrtIES fNcLUDfNG FRAUD
Irregulariiies, including frau￿ are Insta￿¢5 of noll-compliance with laws and regulations. Th¢ priJn8ry respon5ibilty for the
prevention and dete¢tion of irregularities llleludi￿g fraud rests with both the managetnent and those Ch8￿ed with govemanc¢
of the charity. We design procedutes in line with our responsibilities, oudillEd abov¢. to detect Lnaterial mis5tatem¢nts
in respect of irregu]arities, inclllding fraud.
We have coll51der￿ the nature of the industry and sector, contrtsl envtroDmen( la￿ and regulations attd busin¢ss Perforn￿llCe
of the clwity. Laws and regu]ations conSLdered iucluded. were not limitedto. th¢ Charities Act 2011. FRS102
and Charity SORP.
We have enquired with the n￿l8gement in regards to thear own asse&¥ment of the risks of irregulariti4 sneluding fraud. We a150
enquired of llwageffjeryt aud those charged with governan￿ to aDy ill5t9n￿ of Donwliance or suspected
[LOD-Co￿plla￿cC with laws regulatioN.
We obtained relevallt doCu￿t￿tatiOn and repreSentatio￿S llj order to form opillion ou pot¢utial trreguIarities, including fraud.
We considered the oppottmities alld in￿ltiV&S that may exist tILe organi￿￿Oll for fr4ud.
Based on thig undcrstanding, we designed ycific audti procedures to idelltify" inslance5 of non-cornpliance with law5 4TLd
regulations, including obtaining additioTJal ¢OTrO￿rat1ve ¢vid¢lloe a5 required. Examples of procedures included reviewing
large alld unusual tr￿sa¢¢I0115. reVie￿ing large and unexpected v￿1&￿tes. revi￿]nL* journa]5 entries and relevant legal
coffespond¢nce.
There are J￿h￿¢￿t limitations in the audit proeedure5 described aknv< llot least &5 5ampIiDg is used ullder tntemational
Auditing Standardg, therefore not all trpnsactions are revi¢wed. Thereforq there is a risk we will not detect all irregularities
including those leading to Material Ettisstatement in thc fiDaucial statements orllon-cor(wli8nce wirhtegulationg. The Fisk of
not det￿tIng a material snisstatement due to hud ts a]50 higher thanth¢ risk of not detecting one from error. as fraud may involve
d¢libet* concealment by, for ¢xampl¢. forgery. coll￿10￿ OmiSSiOD or intentional misrwesentstiorL

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 8
FINANCIAL STATEMENtS FOR THE YEAR ENDED 5TH APRIL 2024
JNDBPKNDENT AUDITOK'S REPORT TO THE TRUSTEES OF THE ROBERT GAVRON CHAIUTABLE TRUST
Relevant identified laws and ￿guI￿tionS We￿ communicated withtn the C￿gag¢￿t￿ team so IheyTetuained alertthroughout
the audit for indications of fraud or non-compli8nGe.
A filltheT d¢5¢riplion of our re5ponsibi]ities for the audit of the fitwi¢ial statements is located on the Financial Repoitiug
Council's website 8t www.frc.org.ukn'4uditor5tesp)￿ll)ltltseS. This descriptson foTms part of our auditofs report.
USE OF OUR REPORT
This r¢port is made solely to the cknity'5 tn￿¢¢& as a ￿CordanCe with Seetions 144 aDd 145 of Cbarities Act
2011, Our audit work has been undertakeD so that we might state to the INstees those matters ￿e we required
to state to them in ar£ auditovs report and forno other pwpose. To the fullest exlEllt p¢nnitted by law, we do nol accept
or asSU￿e responsibility to anyone otheT thall the charity aDd the cb&ity5 trustee4 as a body, for our audit work. for Ibis
r¢por( or for the opinions we bave fonrLed.
NtGEL A PRwfis FCA (S¢rLior Statutory Auditor)
FOR AND ON BEHALF OF
PRbNTIS & CO LLP
CHARTERED ACCOLTNTANTS
& STATUTORY AUDITORS
115c Milton Road
Cambridge
CB4 IXE
Prentis & Co LLP is eligibl¢ lo act ￿ an auditor ID tenJL8 of sectioo 1212 of the Companies Act 2006.

TIIE ROBERT GAVRON CHARITABLE TRUST
PAGE 9
F￿ANCIAL STATEMEYfs FOR THE YEAR ENDED 5TH APRIL 2024
STATEMENT OF FfNAN'CIAL ACTtVlTIES
2024
2023
Unrestricted Unrestricted
No
COME
Investment income
128.121
115,704
TOTAL tNCOME
128,121
115,704
XPENDITURE
Cost of raising fuuds..
InVest￿ellt management ¢osts
Expenditure on charitsble activiti&s
TOTAL EXPENDrruRE
28,682
506,370
535,052
30,327
479.468
509,795
NET INCOMEJ(EXPENDITUB£) BEFORE
GAtNS ON [NVESTME￿s
1406.931) 1394,091)
Net gain￿o05S¢s) on inv¢str)ents
NET MOVEMENr tN FUNDS
712.797
(415,904)
{809,995)
i05,866
RECONCILIATION OF FLfNDS
Total fuuds brougbt forward
Total funds caEri¢d fon¥ard
9.627,232 10,437,227
9.933.098
9,627,232

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 10
FINANCIAL STATEhlENTS FOR THE YEAR ENDED 5TH APRfL 2024
BALANCE SHBET
No
2024
2023
FIXED ASSErs
Inveslments
9.886,796
9,447,206
CUItRThT ASSETS
89,805
20.IM)O
265.507
33,95
Debtor5 alld prepa>ryneuts
TOTAL CURRENT ASSETS
109.805
299.457
LtABILITtES
Creditor8: falling due within
one year
io
(63,503)
(116,431)
NET CURRENT ASSETS
46,302
183,026
9,630,232
Total assets less current liabilities
9.933,098
Creditors.. falling due after one yeaT
TOT AL NET ASSETS
io
(3,000)
9,627,232
9.933.098
THE FUNDS OF THE CHARITY
Unrestricted Fund8
12
9,933,098
9.627.232
The accounts on pages 9 to 17 were approved bythe Truytees on
Dr Kath￿ine S Gavron
JessI￿ L Gavron

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 11
FINANCIAL STATEMENfs FOR THE YEAR ENDED 5TH APRIL 2024
STATEMENT OF CASH FLOWS
2024
Total
2023
Total
Note
Net cash used In op¢ratlThg g¢tfvities
13
(577.0301 (581,783)
Cash flows froTh Inve5tillg activitie5:
Interest and dividrnd9
Net (purchaseysale of investtnents
Net casb provAded by Inv£stlng activities
128,121
273,207
115.704
41,286
401,328
156.990
Change c&sh alld eash equivalellts in tbe year
C48h and cash equivalents at the be￿1￿8
of the reponing period
Cash and cash equivalents at the
end of the reporting period
(175,7021 (424,793)
265,507
690,3(K)
89,805
265,507

THE ROBERT GAVRON CHARtTABLE TRUST
PAGB 12
FtNANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APBJL 2024
NOTES TO THE FINANCtAL STATEMENTS
i)
ACCOUNTING POLICIES
(&) BASIS OF PREPARATION A&SESSIIEf4T OF GOLNG CONCERN
The financial statEllwts have beellprep￿ tmdeT the h[Stori￿ Cost wDveDtion with itsms recOgni￿d at
COSI or trtn5actiotL value unless ¢)therwise statrd in the relevant Mtes to tbese finall¢ial stst¢utents. The
financial ststejnents havc trÈen prepare4 ill ￿0rd￿nCe with the Stateffle￿ of Reconllnended Practice..
A¢couuling and Reporting by CbaTttses prep&ing d￿jr accounts in accordance with th¢ FitWLCi31
Reporting Standard applicable in tbe United KillgdoD] and Repub]ic of Ireland (FRS 102) (effective 1st
January 20191 gjjd the binanci￿ Reporting Srandard applithle in tke United knngdom al￿ Republi¢ of
Ireiand (FRS 102) th¢ C[witi￿ ACÈ 2011.
The Trust constitytes 4 public benefit entity as defined by FRS 102.
The T￿￿te&s consider that there are llo ￿thIal uncenaillties alx>ut the Trusvs ability to continue as a
going ¢oDcenL The most sigtiificant areas of uneetTAinty thataffect the catryin8 valu¢ of ￿Sets beld by
the TnLqt are the level of investsnent ￿turn and the performa[￿ of investment markets.
(b) INCOME RECOGNITIO
All income is r¢c¢)gnised once the charity ha5 entiilemEDi to th¢ in¢om¢, it IS POS5tr)le thet tbe inco]ne will be
Teceived the atnount of can be measured reltably.
Investm¢nt incotne is acCou￿(2d forwheD receivable. Tax rxoverable relating to investm¢nt 1￿COme 15
accounted for in the sarn¢ peri¢￿ &% the re]at¢d income.
(c) EXPENDTfuRE RECOGNITION
Liabilities are recwjised as we￿dI￿are 8ooD as there is a legal or ¢onslnr¢tive obligati¢Jn committing th¢
ch4rity to that exEKndibJre. 1¢ 15 probable that Settle￿¢llt wiu be required and the amouttt of Obli￿ti1)n can
be tne&%ured reliably.
All expenditure is accounied for on ar(n￿lS basis. Chatitsble Sup[￿ ex[￿Se5 arLd goYernatL(% Costs
iDclud¢ all expendittsre not dirertly r¢latiDg to the clhgritabk activity.
Cknitable grants payable ate ret]wed in the accoullts durÈng the year in which the grant w&$ made, and
any amoullts outstanding at the )rar end are included in CU￿ellt ]i¥biliiies. When grants awarded expire
or are unclaimed they are [￿redIted.
(d) VALiJE ADDED TAX
Value Added Tax is ]￿t ￿e0Verable by the Tn￿ and such is in¢luded ill th¢ relevant costs in the Staten
of Fit)anciai Activities.
(e) COST OF RAIsifiG FUNDS
The eosts of generating fjJll&8 GOllSiSt of inv¢stmellt niai)weni e05ts pnd legal fre5.

THE ROBERT GAVRON CHARITABLE TRUST
PAQE 13
FINANCIAL STATEMEN13 FOR THE YEAR ENDED 5fH APRIL 2024
NOTES TO THE FfNANCIAL STATEMENTS
(fj FIXED ASSETS INv￿mENTs
Inveslments are a forrn of b￿]C instn]￿t and ar¢ iDitialtyTecognised attheirtraDsaction value 8nd
sub3equ¢nt]y measured atthelr fair value as at th¢ balance 5heetdats using the cloging quoted Tnarket price.
The Statement of Financial Activities inclth the nei gains and lo¥es aTiSing on the revajuatiott aDd
disposal throughout the ytar.
Derivative fU￿l(la1 iD5trwnents are initially recorded at Cixst andthereafter at fair vaiue with changes
recogtsised iu the Sratement of Financial Activiti¢3.
The main forni of f￿ancIal risk faced by the cljarity is that of volatility ill equity ll￿kets invesLTnent
rn￿etS due to wider ¢conomie ¢onditioDS. the attitude of iDvestors to illvestment fisl and ch8nges in
gentiment concerrting equities and ￿]n particuIar seLtDrs and gjb sectors.
ts) REALISED GAINS AND ILI&SES
All gains losses are taken to the Statemellt of FiDaucial A¢tiFities as they aLise. Realised gains and losses
on inYe5tren(% are ￿¢￿lated as the difference be￿ren sales proc¢Ed5 and th¢ir op¢niDg canying value
thcir purc]wse value if acquiE¢d Subsequent to the ST5t day of the fiDancial year. Unrealised gaitis and losses
are calcuiated as the difference betsveen the fair value at the ye8r end &lld their carrying valu¢. Realised and
r¢altsed invg5kneTLt gains al￿ losses are combined ID th¢ Stthm¢ot of Fwwlcial Activities.
(h) FOREIGN CURRENCtES
TrnwartiODS in foreign currencies are rccorded * th¢ rat¢ Nling at the date of the try&)saction. Monetary
ssets 2nd liabilities are retra￿￿1ated at the rate of exchange ru]iog at tkn balanc¢ sbeet date. All differ¢n¢es
are tsken to the Ststement of Fillanc?al Acti*ities.
(T) PE.¥SION cofffluBtTfioNS
The Trust Contributes to a defiDed contrib￿10￿ P¢nSiOD sdKn]e OD behalf of the employee. The assets of the
sd]eme ar. held separntcfv from thos¢ of the Trust in an 1nde￿lltty administered The pension
osl ¢harg¢ represenis cottributiODS payable by th¢ TTUSt to the fun
2)
tNVESThlE.YI INCOME
Year ended stit ApTiI 2024
Total
2024
Non-UK
Equities
Fixed interest
tnterest from stockbroker
24,810
26,935
3.292
53,732
19,352
78,S42
46,287
3,292
128,121
55,037
73,084
INVESTMEh'T INCOME
Yvdr ended Sth April 2023
Total
2023
Non-UK
Equiti¢s
Fixed interest
Interest from llockbroker
6,769
39,873
8,267
54.909
18,370
42,425
25,139
82,298
8,267
115,704
60,795

THE ROBERT GAVRON CHAIUTABLE TRUST
PAGE 14
FfNANCIAL STATEMENTS FOR THE YEARENDED 5TH APRIL 2024
NOTES TO THE FINANCIAL STATEMENTS
3)
CHARITABLE ACTIVITIES
Year ¢nded 5th Awil 2024
Support and
GoveTW
CbaTitable
Actsvkties
2024
Donations (note 4)
Staff costs {uotr 6)
Ststionery costs
Bank Cha￿e5
Bookkeepin8 and payroll
Audit accounTrDCy fr
456.027
456,027
40,185
74
583
4,901
4,600
40,185
74
583
4,901
4.600
456,027
50,343
506,370
CHARITABLE A￿1VITIEs
Year ended 5th April 2023
Support alld
Govemallce
Costs
Charitabl¢
Activities
Total
2023
Ik)uatigDS (nole 4)
Staff costs (note 6)
Stationery costs
Bank charges
Bookkeeping pasToII
Audit aCcO￿tanCY fees
429,761
429,761
40,519
270
455
4,347
4.116
40,519
270
455
4,347
4.116
429.761
49.707
479.468
4)
CHARITABLE DONATIONS PAYABLE
2024
2023
TotAI C￿kn don&tiOll5 paid durtngthe year (see p4e 18)
512,342
514,615
Douations paid during the yegr that were included ID the previou5
y*s provisions
Total net CUTrentyeor c&8h donatious paid
Addition8] dimatiolls ¢OTnmitt¢d to be paid within on¢ year
(110.063) (122,9171
401279
391,698
53,748
35,063
Additional doDatiODS CotD[ni￿ Éo be paid after on¢ year
Totsl donations charged to the UTw&stricted Jncome AccouDt
3,0(KJ
429,761
456.027
TT INCOME/(EXPENDITURE) FOR THE YEAR
The ttet deficit for the yeat ts arrived at after ¢haJging'.
Audit fE
Fe¢5 Patd to Auditots for other 3¢ryices
2024
2023
2,400
7,101
2230
6233
Management tlweat ITr relatton to non-Audit strvires". in ¢ollunon with many other bNsiTwses of similar
5iz¢ and natUT£, thE Truste&8 wiploy the auditors to &qsist wlth the preparation of tbe financial statements.

THE ROBERT GAVRON CHARITABIE TRUST
PAGE 15
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
NOTES TO THE FNAliCIAL sTATENI￿rs
o)
STAFF COSTS AND REMUI¥ERATION OF KEY MANAGEMENT PERSONNEL
2024
2023
Salars¢s and wage5
Social see￿Ity e(k4ts
PEnSiOU costs
Less.. Co8t cOntrib￿]0￿S
S5,000
1.335
3,850
(20,000)
40.185
55,000
1,669
3,850
(20,000)
40,519
The above represents the tot415aipry cost to the charity of the employee of the Th￿t.
The Trust co￿lderS its key utanagement wonnel to be the Tr￿ Anthony Dance (TrLLSt
Administrator). No remulleration paid to the TnLSte￿ in the year nor weTr any expenses reirnbursed to
them.
2024
2023
Market value at 6th April 2023
Additions
Di8posats
Net unrealised gain￿00s$¢S)
N¢t Ra]ised gainsl(losses)
Market v￿u¢ at 5th April 2024
His¢orica] cost at 5thApril 2024
9.447,206
9,904,396
1.361.671
2,030,470
(1,634,878) (2,077,756)
733.401
{308,7771
(20,604) {107,1271
9.886,796
9.447206
8.767,760
8.530.435
Jnve5Lrnents at fair value ¢omprise:
Year t￿le￿I 5th April 2024
Totsl
2024
UK
NOD UK
Equities
Fixed interest
1140,725
648.003
6,461,644
636.424
8,602.369
1,284.427
1788,728
7,098,068
9,886,796
V¢5ttn¢nts at fair value cotDprI￿.
Year ended 5th April 2023
Totsl
2023
UK
Non UK
Equities
Fixed illterest
2,549,460
313,731
5,721,OJ9
862,976
6.584,015
8,270,499
1.176.707
2.863,191
9,447,206
All illvcsltnellts caJried at thetr fRir value. Investhient iu equT¢i¢s and fjxed interest securitie$ are all
traded in quoted public maTkct4 primarily the LoD(lon Stock Exchange. Holding5 in common investtlleut
filt￿S, unit tru51s and open-ended investrient COAnpallie5 are at the bid price. The b&£is of faiT value for
quoted iDvesttllents 3$ ¢quivalent to the m£rket V41u¢. using the bid PTice. Asset sales and purchases are
reeogrtised at the date of trade at ¢ost {that is their trdti5action Yaluel
Invcstwjts are sbown 4t values deternlined bythe Truses fiJDd managers. Scbroder & Co Ltd and Ruffer IIF.
All investments are held within unt¢Stri¢ted fi￿ds. Invest￿ellts held within the portfolio that are over 50/0 of
the total value are Charity Assets TnL8t Ace17.42V.I BrnHTt Advisory US Su5traillable19.28Yol, Scbroder
Global Sustainable (24.13/.), Roth￿b]ld- Exbury Fund (10.33Y4), SparinvesL Ethirnl Olobal (6.34Yol, UBS ETF
MSCI USA Socialty (5.38%). No other itiv¢stm¢Dts con)prise OF more ofthe portfolio.

THE ROBERT GAVRON CHARrrABLE TRUST
PAGB 16
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRJL 2024
NOTES TO THE FfNANCIAL STATEMENTS
8)
CASH
2024
2023
Bank accounts
Fundmanager5' accounts
52.342
37,463
89,805
64.359
201.148
265,507
9)
DEBTORS AhT) PR£PAYMENTS
(All due within one year)
PrepaynTrents and accnted inco￿¢
2024
2023
20,0￿)
33,950
io)
CREDITOILS
2024
2023
rkn withiD t￿t after Due within
one year
e aft¢r
one year
Charttabl¢ donations
AccnJaL8
Social se¢urity and pension
5&748
5204
1.551
110,063
4,751
1,617
3,000
63.503
116,431
3,000
ii)
RKLATED PARTY TRthSAcrioNs
Dr Katharine SusaTE Gavron is a TnJst¢e ofthe TrnsL During th¢ £20,000 (2023: £20:0(M)) wa5
re￿1V￿1 from t)r K Gavron for ￿tribUtiO￿5 towards Anthony Dallce's salary for work Ca￿led out c
her beha]f. Thi5 is sb0%￿l as & deductiOTA from skny ￿ 5¢¢ llOt¢ 6.
12)
ANALYSIS OF CHARfTABLE FUNDS
2024
2023
Unrestricted Unrcstri¢ted
General
General
Balallce blfi¥d 6 Aprtl 2023
9.627232 10.437,227
128.121
115,704
(535,052) (509,795)
712,797
(415,904)
9.627232
Expenditure
Gainsl(losses) on illvosttoellts
Bthce clfwd 5 April 2024
9,933,098
D￿Illg a year in which income tx¢¢ed5 expetidlti￿ Ihe ¢xcess income is retained to be availabl¢ for
distribution iti sUbsequ¢Dtye￿5.

THE ROBERT GAVRON CHARJTABLE TRUST
PAGE 17
FfNANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRJL 2024
NOTES TO THE FfNANCIAL STATENIENrs
13)
RECONCIIJATION OF INCOMING RESOURCES TO YET CASH FIA)W VROM OPERATING
CTIVTTIES
2024
2023
Net movement in fijnds
Adjuitsllents for..
Dividellds and interest from inv¢strneDrs
Lo55¢51(gains) on iDyesiD]ents
Decreas&(increase) in debtOT5
(Decteasey(incre&se) in creditOTS
305,866
(809,99S)
{128,121) (115,704)
(712,797)
415,904
13,950
11550
(55,928)
(84,538)
(577,030) {581,783)

THE ROBERT GAVRON CHARITABLE TRUST
PAGE 18
FtNANCIAL STATE.MENTS FOR THE YEAR ENDED 5TH APRtL 2024
SCELEDULE OF CASH CHARITABLE DONATIONS OF £3,(KY) AND ABOVE
999 Club
Alt¢rnative to Viol¢nce
Arab Israel Children's TenDis Charity (Freddie KTivine Foutthtion)
Arnott Cato Foundation
Arts for All
Ball¢tBoyz
Barbados CTicket A89ociation
Book Clubs in bchools
Carnden Peopl¢'s Th¢atr¢
Ec(kA¢tive
FACES
Food Behind Bars
Fo(Kl Cycle
FD(th8nk Aid
Four Corners
Futh Frontiers
GASP Motor Proj¢
Get Out
Giving WoTld
Highgate InternationaI Chamber Music Festival
Holoc&usi EducationaI Trust
House of Illustratio
Jewish University Chaplainey
Jol)n Abbey- Medical Aid to the UkraRne
KEEN London
Kool Carers South East
Live Unlimited
Marie Curie
Morpe¢h School
National Portrait Gallery
New Bridge FouDdation
Not Beyond Redemption
NumI￿r Cbarnpiolls
OpeD Democracy
Orchid ca￿¢Br Appeal
Prisoners Advice SeNic¢
3,000
3,0(N)
61,275
7,831
5,000
25,000
23,693
5,000
5,000
3,000
3,000
3,000
5,000
20,000
4.000
5,000
4,543
10,000
3,000
10.000
5,000
50,000
10,000
5,000
5,0(M)
3,0(K)
5.0(K)
5,000
60,000
15,000
4,500
5,(M)a
5,000
25,000
5,000
5,000
3,000
30,000
5,000
5,000
5,000
J,O(K)
lo,0￿)
5,000
5.000
5,000
3,000
11,500
Royal Opera House Coveut Garikn FoulldatioD
Spires Centre
Stand Out
The Habbil FaGtory
The Longtord Trust
The Social Guarathe
lThe Sofa Project
The Trussell Trust
Unlock
YMSO
otal of all dotiatiolls les5 thall £3.1)(KJ
Total doDatiolls ll￿le duringthe year (note 41
512,342
I￿luded in this list of donations orgdllisations ID wbich a Tnth of the Tru5t17AS an interesL The d¢tails of the Tn]st¢¢
and orwiisations eoneerned are set out below.
Dr Katharine S Gavron:
Ball6tBoyz
Highgate International Chamber Mwic Festival
Trust¢¢