ILIFFE FAMILY CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ILIFFE FAMILY CHARITABLF. TRUST INDEX Report of the Trustees Independent Exxminer's Report Statement of Financial Activities Balan¢e Sheet Notes to the Accounts REPORT OF THF. TRUSTEES OF THE ILIFbE FAMILY CHARITABLE TRUST FOR THE YEAR F.NDF.D S APRIL 2025 I. REGULATION The Ttvst is governed by a Declaration of Trust dated 10 Febtijary 1977. The Charity register number is 273437. The inveslmenls are held in aecordance with Ilic powers sel out in the Trust Deed. 2. TRUSTEES, BANKF.RS AND ADVISERS Th¢ Trustees throughout the year ivere.. Lord Iliffc Lady Iliffe The Hon. L R Iliffe C F, Fleming The address of Ihe Charity is Barn Close Yaltendon Berksliirc RG18 OUX The appointment of neil. trustees 15 at the discretion of the Current Ituslees. Bankers of Ihc 'l'riisl il'cre Llo)'ds Bank PIC 25 Gre5hatn Street LONDON EC2V 7HN Investinei)t Advisers ot the Trust Ihroiighoul the )'ear iiere F.vel J'n Partiiers Investniciii Scrviccs Limited 45 Gres11c1 In Street I.ONf)ON EC2V 7BG Iiidependei)t Exaininer of the Triisl is Fiona I laii Lilis Jaii)es Coii'per Kreslon 2 Commiiniclctioiis Road Greenhain Business Park GreLnhcllll Neii'biir). RG19 6AB RF.PORT OF THE TRUSTEES OF THE ILIFFE FAMILY CHARITABLE TRUST FOR THF. YF.AR ENDF.D 5 APRIL 2025 3. STRUCTURE, GOVERNANCE AND MANAGEMENT There is no fonnal written poli¢y for the recruitment, induction and training of new trustees. Neiv Trustees are recruited depending on the needs of the In]st and are idenlified by the exisling Trustees based on the Trust's requirements and the new Trustee5' experience and expertise. 4. CHARITABLE OBJECTIVES AND ACTIVITIES The Charity ivas set lip by Declaration of Trust dated l O, February 1977 with the object of making distribulioiis for thc benefit of charitable purposes in the United Kingdom or any oiher part of the world. In carrying out their duties the Iruslees have due regard lo the guidan¢e published by the Charities Commission on public benefit. In practice the majorily of distribulions are made lo UK registered charities. To reduce costs the TrLlStee5 regret tliat they do not alivays reply to unsuccessfiil applicants for grants. 5. REPORT ON THE ACCOUNTS FOR THF. YF.AR Incoiiic for Ilic }'car ai))ounled lo £33,537 (2024 £33,223) Ivitli distriblltions of £65,000 {2024 - £69,500) to a i)Liiiiber of cliarities as dLlailed in note 5 to Ihe aecouiils. Investiiienls decreased in value by £77,169 {2024- increased by £163,410}. As Ilt the )Jear ei)d tl)e Tn]stees licld plaiinLd donations amounlingi to £73,00012024 £78,000} ii'liicli the), iniend io Inake after 5 April 2025. 6. RESERVES The Trustees have a polic)y to distribiite 4111 the income arising each year subjecl to funding applications rcccivcd. There are no specific reserves 5cI aside for contingencies as Ihe total funds far oiilii'eigh an5.. contingen¢s' that could arise. 7. RISKS Tlie m£ijor risks to ii'hicli the trLlSt is exposed hal'c bcen rcvieiN'ed and s)'slems are in place lo mitigate these risks. REPORT OF THF. TRIJSTF,F.S OF THE ILIFFE FAMILY CHARITABLE TRUST FOR THE YEAR ENDF.D 5 APRIL 2025 8. INVESTMENT POLICY The trustees have all powers of investment, managemcnl, sale, exchange and all other powers of an absolute bencficial oivner of the Trust Fund. Trust money may be invested in the purchase of securities, oiher inveslmenls or properly in any part of the world. 9. STATEMENT OF TRUSTEES, RESPONSIBILITIES Laiv applicable to charities in England and Wales requires the trustees lo prepare financial statements for each financial year iN'hich give a true and fair view of the charity's finanLial activities duriiig tlie )wecir and of ils financial position at thc cnd of the year (unless the charil}' is enliiled to prcpare accounts on the alternative receipts and payincnts basis)- ln preparii)g financial sl4ileinenls giiving. a true and fair vici¥'" the trustees should folloii. best practice and.. sele¢t suitable accounting policics and then apply tl)ein consistently- make judgFcmeiits and estiinates tlial ¢1re reasonable and prudent. slate ii,heiher applicable Accoui)ting? Stc1ndcirds and St1¢ temenls of Recoiniiiended Practice liave been folli)i¥'L'd, 5ubjeLI lo an). dLpartures disclosed and explained in the financial stateinents,. and d) prepare the financial slaleinenls on Ihe going cottceri) bcisis unless it is iiiappropria(L to as5uiiie tl)al the charit)w ivill ¢ontinue in business. b) 'I"hc IrLlStL'es are responsible for keeping proper accounting recc)rds ivliich disclose, .'itli reaqon<1ble acLuracJ, Ilie finanLial posltion ofihe cl)arit), d ii,hich enable tlicin to both ic scertain tlie financi1¢ I position of ilie Lharit). and ciisure that the rinanLial sialemen15 cciinpI}' Ivith regulations. The). are also responsible for safegiiarding7 tlie assets of the cliaritj <2nd hence for taking rcasonable steps for the prekention and deleilioii or rraud and oil)cr irrcgularities. Signeil: LORD ILI Date." l % J XL)X INDF.PF.NDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2025 Independent Examiner'5 Report to the Trustees of Iliffe Family Charitable Trust (the 'charity') I report lo the charily Trustees on my examination of the accounts of the charity for the year ended 5 April 2025. This report is made solely lo the charity's Triistees. as a body, in accordance with Part 4 of Ihe Charities (Accounts and Repot1s) Regulali0115 2008. My ivork has been undertaken so that I might stale to the charily's Triistees those matters l am required lo stale to them in an Independent Examinels Report and for no other piirpose. To the fullest extent pennilted by laiv, I do not accept or assume responsibility to anyone other than the charity and Ihe charity's Trustees as a body, for my work or for this report. Responsibilities and Basis of Report A5 the Trustees of the charily you are responsible for the preparation of the accounts in accordance Nviih the requirements of the Charities Act 2011 ('Ihe 2011 Act,). I report in respect of my examination of the charily's accoiints carried OLIt under section 145 ol. the 201 l Act and in carrying out my examination I have folloived all the applicable Directions given by Ihe Charity Commission under section 145(5)(b) of the 201 l Act. Independent Examiner's Statement I have completed my examination. I can confirm tl)at no Inatters havc come lo Iny attention in conneclion iviih the examination giving me cause to believe Ilial in any material respect.. accoiinting records were not kept in respect of the charity as rcquired by section 130 of the 201 l Act. or the accounts do not accord ivith Iliose records; or the accounts do not comply Nvith the applicable reqliiremenls conceming the form and content of accoiinls sel out in the Cl)arities (Accolints aiid Reports) Regulations 2008 other than any reqiiirement that the accolints give a 'true and fail view M'hich is not a matter considered as part of an independent examinalion. I have no conccrns and have comc across no otlier matters in connection with the examination to which attention should be drawn in this report in ordcr to enable a proper understanding of the accuunls to be reached. Signed= Dated= 2310112026 F Hawkins FCA James Cowper Kreston 2 Communications Road Greenharn Biisiness Park Greenham Newbury RG19 6AB ILIFFE FAMILY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YFAR ENDF.D 5 APRIL 2025 Note 2025 2024 INCOME FROM: tnveslmenl Income Dividends Interesl on Fixed Income Stock 30,402 2,504 30.945 1.775 Bank interest 631 503 TOTAL INCOME 33,537 33,223 EXPENDITURF. OIY: Charitable Activities Donations Indepeiident Examinerfs Fee 65,000 ,655 66,655 69,500 1,607 71,107 Raising funils Investment advice fee 8,027 8,027 7,439 7,439 TOTAL EXPENDITURE 74,682 78,546 Real ised gain on disposal of shares (Decrcasc)lincrease in valiie ot investments NET (LOSS)IGAIN ON INVESTMF.NTS: 57,306 (134,475) 77,169 43,447 119,963 163,410 NF.T (EXPENSE)IINCOME (118,314) 118,087 In both 2025 and 2024, of the total income and expenditure, all ivas lo unrestricted funds. Total fiinds brolight foThYard Nel mO￿.c.]llenI in flinds Total fiinds carried fornvard 1,718,096 (118.314) 1,599,782 1,600,009 118.087 1,718,096 ILIFFF, FAhllLY CFIARI'fABLE TRUST BALANCE SHEF.T AT 5 APRJL 2025 Note 2025 Total 2024 Total TANGIBLE FIXED ASSETS Investtnents 1,593,060 1,695,234 CURRENT ASSETS Casli ai bank and in hand 10,369 26.356 CURRENT LIABILITIES Acciuals (3.647) 13,494) NET CIIRRENT ASSF.TS 6,722 22,862 NET ASSETS 1.599.782 1,718,096 TIIE bUNDS OF'I'HE CHARII-Y UnTestricied funds 1.599.782 1,718,096 TOTAL FUNDS OF THE CHARITI, 1.599,782 1.718.096 Signed.. Date: Lord Ilirre Trustet lX-Jtr￿ C E Fjeming Trustee ILIFFE FAMILY CHARITABLF. TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED S APRIL 2025 I. ACCOUNTING POLICIES The financial stalemenls have been prepared under the historical cost convention with ilems recognised at Cost or transa¢lion value unless otherwise slxted in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Siatement of Recommended Practice (SORP)- Accounting and Reporting by Charities preparing their accounts in accordance with ihe Financial Reporting Standard thpplicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, Ihe Financial Reportin¥ Standard applicable in the United Kingdom and Republi¢ of Ireland (FRS 102), the Charitics Acl 2011 and Ihe Trust Deed. The trust constitutes a public benefit entity as defined by FRS 102. Investment income is accounted for on amoun15 receivable during ihe year. Expenditure is provided on an accruals basis. Irrecoverable VAT is charged to the Stalement of Financial Activilies as incurred. Investments are slated at market valiie and both realised and unrealised gain5 are reflcLILd in thc Siaicinenl or rinancial Aclivilies. Cash al bank and in liaiid incliid¢s casli aiid short tcnn Iiighl )' liquid investments 'ith a short maliirity of 3 months or less froin the datc of aLqUiSltion or opening of the deposit or similar account. The Trustees liaN'e assessed 11,heiher the use of going concern is appropriate in respect uf a period al leasl one J'ear from (he dale of auiliorisalion lor issiie of tlie rinancial statements and have concllided Ilial the Trust has adequate resoiirces to oiitinue in oper<1tional cxistence for thc forcscec?ble future and Il)ere are no m