Charity r8g13tratlon numbor 269065 THE PETER SAMUEL CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 THE PETER SAMUEL CHARITABLE TRUST LEGALAND ADMINISTRATIVE INFORMATION Tru$tèes Rt. Hon T Viscount Bearsted The Hon. PA J Samuel Charfty numbgr 269065 Prlnclpal addfOS$ The E$tale Office- Farley Estate Fartey Hall Castle Road Fat1ey Hill Berkshire RG7 1UL Ind•pendent examinor Critchley5 Audit LLP Beaver House 2>3e Hythe Bridge Street Oxford Oxford$hlre OX1 2EP Bankevs Lloyds Bank Pk Private Bankin9 Branch 21- 23 Hill Street London W1J 5JW InV￿lj￿Bnt Manayrs Waverton Investment Management Limited 16 Babmaes Street London SW1Y 6AH THE PETER SAMUEL CHARITABLE TRUST CONTENTS Pag• Trustees, reFQrt Statemgnt of trusiees, responsibilities Independent examinevs Teport Statement of finanaal activities Balan¢e sheet Notes to the finanaal statements 6-10 THE PETER SAMUEL CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees present tt)eir annual report and financial statements for the year ended 31 March 2022. StnKknre. G0￿Man¢8 and Manag•m•nt Goveming document The ehanty is controlled by ils goveming document, a deed of INst, and constitutes an ￿nin￿rporated tharity. Oryanisaticfftal stTUCture The day to day administration ofthe chadty was carded out by Ms C Ward in conjunction wlh joint Trustees. ObJoCtlv•s and a¢llvltloS The charity was established under * Irugt deed datod 17 January 1975. The Trustee5 hold the ¢aptsl and Income on twsl to apply as they think fft for the purposos which are exclusively charilat4e. The Trustees seek io promote the family's interest in medi¢al sciences, the qualty of Ife in local area5, heritage and foresterlland resloralion. All funds are self-generated and no donation$ are sought Irom other SOu￿e8. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what actlvlties the ¢harty should undèrtake. Summary of Polltl•s To make charitable donations within the 8¢ope of income received. A¢hle¥emènts and p•rfomian¢• Charitablg actlvitio During the year, the trijst supported many drfferent worthy organisatlons via donations amounling to £147.500 12021.. £69,700}. Inveslm•nt P8rforman¢e The trust maintains investments vthich are held lo generate fvnds from Nthi¢h grants ¢an be made to worthy causes. Due to their traded natu￿, the Tw$tees Tecognise that the capital value of the trust's inveslm&nls will vary year on year, dependent upon market forces. During the year, the investments produced an inwme of £130,201 12021.. £87,923}. Future Plan$ The Trustees hyill continue lo support the Ydork of registered charities, voluntary organisalions, religiou$ bodies cf si￿lar causes. THE PETER SAMUEL CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The trustees are responsible for preparing the Trustees, Report and the financial statements in ￿OrdanCe wlh applicable W and Unf(ed Kingdom Accounting Standards (United Kingdom Generally Accepted AccounliTra Practi¢e). The law appIl￿ble to ¢haiitie$ in England and Wales requlres the Iwstees to prepare financial statements for each fjnancial year which give a true and fair view of the slate of affaiTS of the charity and of the incoming resources and application ol resources of the charty for th* year. In preparing these finanaal ststemenls, the trustees are required to.. - select suilabk a￿O￿ntIng policies and then apply them consistently.. - obseNe the methods and principtes in the Charities SORP., - make judgements and e$t#nates Ihat are reasmable and pnjjenl: stste whelher appli&3ble accounting standards have been followed, subject to any material departures discbsed arKI explaineoIici Charlty Inforniatlon The Peter Samuel Charitable Trust Is an unincorporated Charlty reglstered in England and Wale$. The regi$teTed office is The E8tste Office - Fadey Estste, Fadey Hall. cast￿ Road, Farfey Hill, Be[k$hi￿, RG7 1UL. 1.1 A¢¢W￿ng convention The financial statements have been prepared in accordance wth, the Charities Act 2011 and 'Accounting and Reporting by Charities., Statement of Recommended Practice appIl￿ble to charTiTes p￿paring their accounts in ac¢ordan¢e with the Financial Reporting Standard ap￿iCable in the UK and Republic of Ireland (FRS 102} {effedi¥e 1 January 2019}" The charty is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charibes applying FRS 102 Update BLll8ts'n 1 not to prepare a Slalement of Cash Flows. The financial statements have departed from the Charities {A￿D￿nts and RepoTt$l Regulab'ons 2008 onty to the extent required lo provide a true and fair wew. Thi$ departure has involved followng the Ststement of Recommended Practice for Charities applying FRS 102 rather than the verslon of the Statement of Recommended Practice ￿1¢h is referred lo in the Regulations bul which has since been wrthdr8wn. The finan¢ial $tatemenls are prepared in sterfing, vthi¢h Is the functional currency of the charity- Monetary amounts in these financial stslements are rounded to the neare$l £. The financial stslemenl$ have been prepared under the hisltsrical cost conventim. 1.2 Going cOn￿M Al the lime of approving the financial Statements, the trustees have a r$asonable expectation that the charity has adequate re$ources to continue in operational exi$len¢e for the foreseeable future. Thus the trustees Continue lo adopt the going concern b8$is of a¢counting in preparing the financial statements. 1.3 Charitabh fund$ Unrestricted funds gre available for use at the di$crelion of the truste99 in furtherance of Iheir charit¥ble objectives. Reskn"cted funds are subject to specific ¢onditions by donors as to how they may bo usgd. The purposes and uses of the restricted fvnds are set out in the notes to the finanaal statements. Endowment funds are subject to specrfic conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised vthen the charity is legally en￿tled to il after any perfomian¢8 condiEion$ have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are re¢ognl8ed once the charity has been notified of the donation, unless perfomance conditions require deferral of the amount. In￿me L recoverable in relation to donations received under Grft Aid or deeds of covenant 1$ reujgnised at the ts'me of the donation, THE PETER SAMUEL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accountlng poWcle$ Icontinuedl Legacies are recognised on re¢eipt or otherwise If the Charity has been not￿ed of an impending distribution. the amount is known, and receipt is expected. If the amount is not knovm, the legacy is treated as a contingent asset. 1.5 Exp•nditur8 Expenditure is reeognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il 18 probable that a transfer of economic benefits wll be required in settlement. and the aM￿JnI of the obligation can be measured reliably. Expenditure is dassrfied by actiwty. The costs of each activity are made up of the total of direct costs and shared costs, induding support costs involved in undertaking each activity. Direct ￿$t$ attributable lo a $ingle activity are allo¢ated directly to that activity. Shared co$18 whi¢h ¢ontribute lo more than one activity and support ¢o$ls which are not 8ttributable lo a single actr'vity are apportioned bets￿n those activities on a basis consislenl with the use of resources. Central staff cos15 are allocated on the basis of time spent, and depreciatlon charges are allocated on th• portion of the a35el's use. 1.6 Flxgd assot investments Fixed asset inve51menl$ are initially measured at transaction price excluding transaction ¢osts. and are sub$eqvently measured at fair value at each reporting date. Change$ in fair value arn recognised in net Incomel{expendilurel for year. Transaction costs ar• expensed as incurre