CharSty regiBtratlon numbér 274769
THE ZOCHONIS CHARITABLE TRUST
ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2024

THE ZOCHONIS CHARITABLE TRUST
LEGALAND ADMINISTRATIVE INFORMATION
Trust￿$
MrA G Calder
r P Milner
Dr P D Evans
MsSEHill
(Appointed 9 May 2024)
Charity number
274769
Prlnclpal addres
PZ Cussons PIC
Manchester Buslness Park
3500Aviator Way
Manchester
AudStor
Badow Andrews LLP
Cadyle House
78 Chorfey New Road
Bolton
B4nk•r8
Barclays Bank PIC
51 Mosley Street
Manchester

THE ZOCHONIS CHARITABLE TRUST
CONTENTS
Page
Trustees, report
Stslemenl of Iruslees, re5pon$ibililies
Independent audilorfs rèport
Slalemenl of fin8naaS activities
Balance sheet
Statemènt of cash flows
Notes lo the finanual statements
10-16

THE ZOCHONIS CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Iruslees presenl their annual report and financlal slalèmenls for the year ended 5 Aprfl 2024.
The flnancial slalernenls have been prepared In accordance wllh the accounllng pollcies $01 out in note I lo IhB
rinancial slalemenls and comply with the chaiily's governing document, the Charities Ad 2011 and 'Accounling
and Reporting by Charities.. Statement of Recommendtsd Pradi¢e 8pplicable to charS1ies preparing Ihelr accounls
In a￿0rdanC0 wllh thé FinaneAal Reporting Standard applicable in tho UK and Republic of Ireland IFRS 1021
(effective 1 January 2019)"
Obl8ctlv8s and actlvltles
The objects of the charity are 10 8UPPOrt ch8r518ble Causes by making grants.
Each year the trustees review Ihe objectives and activilI0s of the charily lo ensure that they ¢onllnue to reftecl
their aims 8nd lo provide public benefit. Th8 Iiuslees are mofe than salisfiad Ihal they do.
The Iruslees have pgid due regard lo guldance issued by the Charfty Commlsslon In deciding what actlvllles the
charity should undertake.
Grant requests are reviewed by the Iru81ees on an Indlvidual basls. The Iruslees Consider the rnerils of each
roqU&St and Invèst largely in local Charit￿5, with a particular 8mphasis on education and the welfare of children.
Achlevements and performance
The results for the year ended 5th Aprll 2024 are sel out in the Slalemenl of Flnanclal Aclivilie8 on pag8 7.
During the yèar Snvestment incorna has decreased by 18.300h. Th& charity has rnade 176 donations lo charflable
auses lolalling £3,481,84012023 - 187 donalH)ns lotalllng £4,248,800). The Iruslees consider the perforrnance
of the investments lo be sali8f8clory In tèrms of dividends.
Flnanelal r•vl•w
The prfndpal funding source is income generafed from investménts. prirnarily in PZ Cussons Pl¢. Details of the
assets of thé charity are given on the balance sheet on page 8 to the accounts. The Iruslees confirm that Ihe
charity's assets are availablè and adequate lo fulfil ils obligalitsns as they fall due. 11 is the policy of the charity lo
maxirnise unreslricled funds which are the free reserves of thè chanty, lo ensure sufficient funds are avallable lo
cover donations payable, managemènt and adminislralion costs for the foreseeable future. The trust de8d does
not reslrfct tho Investment poweTS of thè trustees. The Iruslees are responsible lor setting Ihe Inve$lmènt
slfalegy, whieh Is reviewed on an annu81 basis. The current slralegy is to Invest in low rfsk, blue chip sharès,
prlmarfly PZ Gu88ons Plc.
11 is the policy of the charity that unTest¥icted funds whlch havè nol been deslgnalgd for a specific usa should be
malnlalned al a level equivalent lo between three and SIX month's expenditurè. The Iruslees consider that
reserves al Ihls leval will ensure that, in thè èvent ol a significant drop in funding, they will be able lo continue Ihe
charity's current acllvilies while conslderallon is glvèn lo ways in which add[l￿nal lund5 may be raised. R8seNes
of al188$1 this level have been malnlained throughout th8 year. Al the year Ènd the charlly held Iree res8rvtss ol
£2,130,20112023.' £2,349,938) and endowmènt funds of £54,736,772 (2023.. £118.018,0371.
The Iruslees have ex8mined the operallonal and business rlsks, which the ch8rity faces, and confirm that they
have established systems lo miligale the $lgnificant risks.
PlanB for futurè perlods
The Zochonis Charitable Trust is a lasllng leslimony lo the generosity and phllanlhropic concerns of the latè Sir
John Zochonis. The need for ald seems n8ver ending and tha Iruslees plan lo continue doing what they can lo
assist. However, the Irusleos realise that Ih*y must use the resources they have wisely. They thèrefore intend lo
¢onlinuè their approach ol funding a mix tsf10¢81. nats'onal and Inlamallonal charllable instilulions. Post year end
decision was made lo convert tha Trust lo a Ch8rllable IncorpL)ral8d Organi5alion, this will be progressed over
the coming tnonlhs.

THE ZOCHONIS CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Structure, gov•mancè and management
Th8 charlty was establlshed, under a tru3t d88d dated 4 MaTch 1977, on th8 Settlement of preperty by the late Slr
John 8asll Zochonls.
The truste8s whD 5eNed durfng the year #nd up to the dBte of 3t9natur8 of Ihe fjnancl81 statemEnts were-.
MfA G CBlder
Mr P Mllner
Dr P D Evans
M¥SEHIII
(Appolnlèd 9 May 2024)
The stgtutory power of appolntlng new and addlllonal iruslees under section 36 of the Trustee Act 1925 app118S
to the settlement. No trustee has any Interest In the Charty. When new trustee$ are appolnted they are given an
Inlroducllon to Ihe work of the twst and are provlded wth the Infomiation they need to fulnl thelr roles, whlch
Includes Information 8bout the rol8 ol trustees and chorlty law. Trust885 5eNe Ltntil they regign. There are
curiently four trusie￿ and grant5 are approved by all trustees, atthough th8 veilng of appllcallon8 15 delegated to
two tW8toeB.
It should be hlghllghtecl that th8 Charfty does nol h8ve key rnanagemenl personnel who rec¥fve emplgymanl
benefits. It Is the truste•s who make the key declslon¥ kn the trust and no remunvrolon Is p8ld to them.
Audltor
A resOlut￿n for th¢ reoppolnlrnent of Ba￿oW Andrews LLP as auditor Is lo be proposed at the ferthcorrlTrg
General Meeting. The irustees recommend that 88rlow Andrews LLP remaln in office until further notice.
Dlsclosure of Infornatlon to audltor
Each ol the trustees has confirrrEd that Ihere no Infonnatlon of whlch they sre aw8r8 whlch 18 relevanl to tho
Judll, but of whlch the audltor Is unaware. They hav8 further confirmed that they have taken appropriate Steps lo
identty Such relevant Inforrnatlon and to 85tgbllsh that thE audltor is 8ware of such Intom18110n.
Byo
r of the Iwslee
Mr P Mllner
Trust80
Dated., 28
vsl 2024

THE ZOCHONIS CHARITABLE TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED S APRIL 2024
The Iruslees are responslblts for preparlng the Truslees. Report and the Ilnancial statements In accordance wilh
applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Acctrpled Acc£Junling
Practicé}.
The law applicabl8 lo charllias in England and Wales r8qulrÈs the trustees to PTeparè ffinanclal statements for each
financial year which glve a IrLJO and fair view of the slate of affairs of tha charity and ol the in¢omlng resouTces and
application of resources of the Charlty for that year.
In preparing these financial slalemenls, the Iwslees are Igquired lo..
select suitable accounllng policiès and then apply them conslsl6nlly',
observè the molhods and principle8 in the Charitiès SORP.,
make judgements and esllmalgs that are reasonable and prudenl.,
slate whether applicable accounllng standards hav8 been followgd, subject lo any m818dal departur95 dlsdosed
and explained in the financial slalemenls., and
prepare the financial statements on the going concern bas18 unless St is inappropriala lo presume that the charily
will continuo in op8ralion.
Th8 Iruslaès aré rasponsible for keeping sulficienl aceounling records that disdose with reasonablè 8ccuracy al any
lime the finan￿al position ol the charity and enable thém lo ensure that Ihts financial slatemenls comply wilh the
Charities Act 2011, the Gharlly IAc¢ounls and Reports) Regulations 2008 and the provlsions of Ihe trust deed. They
are also responsible for safeguarding thè assets of Ihe charity and hence for taking reasonable Steps for the
prèvention and detection ol fraud and oth8r irregularities.

THE ZOCHONIS CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE ZOCHONIS CHARITABLE TRUST
Oplnlon
We have audited the financ6al 81alem8nls of The Zochonis Chaiilable Trust (the 'charily'l for th8 yèar ended 5 April
2024 which comprise the slalernenl of fln8ncial activtlies, the balance sheet, the slalernenl of Cash flows and the
notes to the financial slalemenls. inclvdlng a summary of significant a¢¢ounting pollcies. The fin8ncSal reporting
framework that has been applied in their preparation Is applicable law and Unltèd Kingdom Accounting Standards.
including Fin8ncl81 Rèporting Standard 102 The FinanciBI Reporting Standard applicable An th8 UK and Republic of
Ireland (Untted Klngdom Generally Accepted AccounlSng Pr8clic81.
In our opini¢)n, the financial slalements..
give a true and fair ￿eW of Ihg slatè of the charity's affairs ag 81 S April 2024 and of Incoming resources
and application of resources. for the y¥ar then ended.,
havé baen propeTly prepared in a¢￿Idanc• with Uniled Kingdom Generally Accepted Accounling Practice.,
and
have been prepared In accordance with the requirÈm8nts ol the Charities Act 2011.
Ba818 for oplnlon
We conducted our audil in accordance with International Standards on Auditing (UK) {ISAs lu￿) and applicable
law. Our responsibilities under Ihosts standards are further described in the Audilorfs fvsponsibililies for th& 8iidit or
Iho financial statements section of tsur report. We are independent of the charily in accordance with the elhical
requirements thal are relevant lo our audll of the financial slalernenls in Ihe UK, inclkjding the FRC'S Ethical
Standard, and we have fulfilled our other elhieal rèsponsibilities in accordance with these requirements. W8 bdiev8
that the audit ewdancè we hBve obtained is sufficient 8nd appropriate lo provld9 a basi5 for our opinion.
Con¢luslons rolatlng to going concern
In auditing the financial 51alements, we have con¢lud8d that the trusle88' use of the going concern bas18 01
a¢eounling in Ihe preparation of the financial statemen15 Is appropriate.
Based on the work wg have perfom)ed, we have not identified any material uncert81nlies ￿latIng lo events or
conditions that, individually or colleclively, may cast slgnifieanl doubl on thè charlly's ability lo eonlinue as a going
concem for a period of al least iwelve months from when the financial 51alernenls are aulhoFi8ed for issue.
Our responsibllilles and thè responsibilllies of the trustees wlth respect lo going concern are described in the
rélevant sections of this rtsport.
Othor Snfomiation
The olher infomallon comprises the 1nform8ts.on indudèd Sn Ihe annual report other than th8 financial sl8t8menls
and our auditor's report Ihèreon. The Iruslees are rasponsible for the other informalion contained withln the annual
report. Our opinion on the financial slalemenls does not cover the other inforrnalion and we do not express any lorrn
of assurance conclLtsion Ihereon.
Our respon$ibi1Sty is lo read tho other inforrnallon and. in doing $0. consider whether the olhar informallon is
malerially inconsl$lent with the Ilnancial slalemtrnls or our knowl8dg& obtained In the course of the audit, or
olhérwlse appears lo be materially misslaled. If we identity such malerial inconslslencles or apparent matèrial
ml8s18lèm&nls, we are rèquired to dèlerrnlne whether this gives rise lo a material misstatement in Ihe financial
slalernenls themselves. If, based on the work we have pèrfornied. we conclude that there 18 8 malerlal
misslalemenl of thi$ olher information, we are required lo report that fact.
We have nolhlng lo report In Ihis regard.

THE ZOCHONIS CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE ZOCHONIS CHARITABLE TRUST
Matters on whleh wè arè requlred to report by èxe•ptlon
We havè nothing to report in respect of thè following mallers in relallon to which the Charities Acl 2011 requires us
lo r¢port lo you if, in our opinion..
the informallon giv&n In the financial slatemenls18 Inconsislenl in any malerfal respecl with Ihg trustees.
report.. or
adequate aw)tJnfjng records have not been kept, or returns adequate for our audit have not be8n received
from branches not visitèd by us., or
the financial slatemenls are not in agreernenl with the accounting rewrds., or
wé h8V8 nol received all the infortnation and explanations we require for our audit.
Rèsponsibilities of tNstee$
As explained more fully in the Slaltrmènl of Iruslees. re5ponsibllitles, the Iruslees are responslble for the preparation
of the financial slalemenls and for being sallsfied that they give a true and fair view. and for such inl&rnal control as
the Iiuslees determine is necessary lo enable the prèparation of financial statements that are free from malerlal
misslalemenl, whether duè to fraud or error.
In praparing the financ￿1 slalements, thé trustees are respon$lbl8 lor assessing the Charfly's ability lo continue as a
going concern, disclosing, as appllcablo, matters related lo going concern and using the going concern basis of
acwunling unlèss Iha Iruslees either intend lo Ilquidale the charity or lo cease operalitsns, or have no realistic
allemalive bul lo do so.
Audltorfs rospoTrslbllltlo¥ for th• audlt of the financial stat•m•nts
Our objectives aro lo obtain reasonable as5uranc8 about whether the financial slalemenls as a whole ai8 free from
material rnisslalemenl, whethèr due to fraud or error, and lo issue an audllor's report that Includes our oplnion.
Reasonable assurance is a hSgh level of assurance bul Ss not a guarantee that an audit conducted in accordance
wlth ISAS {UK) will always delecl a material misslalemenl when il exi51s. Misstalemenls can arise from fraud or
error and arè oonsidered material il, individually or in the aggregate, they could reasonably be expectad lo influènce
the economlc ￿9￿$10n5 of users lak8n on tho basis of these finaneial slalemenls.
The ext8nt lo which our procedures are capable of deledlng Irregularillas, including fraud, is dètailed below.
the engagernenl partner ansured that Ihg angagemenl team collectively had the appropriale Compelen￿.
cap8bililies and skills lo identify or recognise non-compliance with applicable laws and regulations.,
we identified the laws and regulallons applicable lo thè charity through discussions with trustee8 and other
management, and from our commercial knowledge and experience of th8 charily sector..
we focused on specific laws and regulations which we considered rnay havè a direct material effed on the
financial slalemen18 or the operations of the charity, including employment and health and safely
legi51alion;
we a88essed the extent of ¢omplianc8 wllh the laws and r8gulalions idénh'fied abovtr through rnakSNJ
enquiries of managernenl., and
idenlified laws and regulations wore communlcalad wlthln the audil team regulady and the tèam remained
alert lo instances of non-compliance throughout th9 audit.
Wg ass8ssed the susc8plibilily of the charfly's finandal slaternenls to malerial mlsslalemenl, Including obtsining an
understanding of how fraud might occur, by..
rnaklng ènquiries of management as lo where Ihey consid8rÉd there was suscepliblllty lo fraud, their
knowledg& of actual, suspacled and all£ged fraud., and
considering the inlemal ¢ontrols in place lo mitlga18 risks of fraud and non-compliance wlth laws and
regulats'ons.
To address th8 risk of fraud through management blas and ovethde of control8, Wg..
performed analytical procgdures lo klenlify any unusual or unexpected relallonships.

THE ZOCHONIS CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE ZOCHONIS CHARITABLE TRUST
In response lo the risk of irregularities and non-compliance with laws and regulation8, we designed pro¢edures
which included, bul were not limited lo..
agrééing financial slalemenl disclosures lo underlying supporting documantation: and
enqulrlng of man8gemenl as lo actual and polgn1131 liligalion and clalms.
There are inherent Ilrnllalions In our audit procedures d98crlbed above. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would becomè aware of non-compliance.
Auditing standards also limit the audit procedures required lo Identify non-compliancg wllh laws and regul81ions lo
enquiry of the directors and other managemenl and the inspection of regulatory and legal correspondence, il any.
MAl8ri81 misstatements that arise due lo fraud Can be harder lo dete¢l th81 Ihose Ihal arlse from èrror as they may
involve deliberate concaalment OT collusion.
A further descriptlon ol our responsibilities 18 avallable on the Financl81 Rgportlng Council'8 Wgbsile al.. hllps'.11
www.frc.org.uklaudilorsre8ponsibililles. This description foms part of our audilof s rèporL
Use of OUT report
This report 15 made 5018ly lo the charily's Iruslees, as 8 body, in accordan¢e with Part 4 of Ihg Charities {Accounls
and Reports) Regulations 2008. Our audit work has been undertaken so that we mighl slate lo the eharily's Iruslees
those mallers we are required lo slatè lo them in an audiltsr's raport and for no other purpose. To the fullest extonl
pèrmitt￿ by law, we do not accept or assume responslbllily lo anyone other than the charity and th& charity's
Ir118tee8 as a body, for our audit work, for Ihls report, or for the opinlons we have formed.
This report is mad8 solèly to the company's members, as a body. in aceordance with section 391 of the Companies
Act 2014. Our audit work has been undertaken so that wè mighl slate lo th8 company's m8mbers those mallers we
are required lo stale lo them in an audilorfs report and for no other purpose. To the fullest extent permilled by law,
we do not accept or assurne re8ponslbility to anyone olher than the company and the company's members as
body, for our audit work. lor this Teport, Of lor the opinions we have formed.
Dayld Kay (Senior Statutory
ditorl
For and on behalf of BarlowAndrews LLP
28 August 2024
Chartered Accountants
Statutory Audltor
Carlyle Hous8
78 Chorley New Road
Bolton
Barfow Andrew8 LLP is ellglble for appointment as auditor of the charity by virtue of ils eligibility for 8ppoinlrnenl as
audllor of a company under section 1212 of ihe Companles Act 2006.

THE ZOCHONIS CHARITABLE TRUST
STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 5APRIL 2024
Unrestricted Endowment
funds
funds
2024
2024
Total Unrestrlctsd Endowmgnt
funds
lunds
2023
2023
Total
2024
2023
Notes
Investments
3,312,668
3,312,668
4.054.915
4,054,915
endlture on:
Chariiable activilies
3,532,405
3.532,405 4,302.973
4,302,973
Net gainslllossesl on
inv&slrnenls
{63,281.2651163,281.2651
110,175,876) 110,175,876)
N•t movement in lund$
(219,73n 163.281,265} 183,501,002) 1248.0581110,175,8761 {10.423,9341
Fund balancgs 316 April
2023
2,349.938 118,018,037 120.367,975 2,597.W 128,193,913 130.791,909
Fund balanees at S
April 2024
2,130,201 54,736,772 56,866,973 2,349,938 118,018,037 120,387.975
The slalemenl of financial activities Indudes all gabns and losse5 recognisad in the year. All incomè and expenditure
derive from continuing aclivities.

THE ZOCHONIS CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Notes
Flxed 888et8
Investrnenl8
io
54.736,772
118,018.037
Current a$$•ts
Debtor8
Cash at bank and in hand
12
1,682,612
671,328
2.135,241
2.135,241
2.353,938
Credltora.. •mounts falllng du? ¥￿thIn
ono year
13
15,0401
{4.C￿oI
Nèt current a8set8
2,130,201
2,349,938
Total assets leg9 cuimnt Ilabllltlejj
56,866,973
120,367.975
The funds of the Charfty
Endowment fvnds
Unrestrtcted fvn¢J¥
54.736.772
2.130.201
118,018,037
2,349,938
56,866,973
120.367.975
Thefi
clal stateme
we
approved by thè trustees on 28 August 2W24
Mr P Mllner
Tru¥teo

THE ZOCHONIS CHARITABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 5 APRIL 2024
2024
2023
Notos
Cash flows from oporatlng a¢tlvltlg$
Cash absorbed by opèr8b.ons
16
11,848,753)
14,311.9081
Investing activities
Investment income r8cèiv8d
3,312,668
4.054,915
Not cash goneratod from investing
a¢tivitlèi
3,312.868
4,054,915
Not cash used in financing actlvltlgs
N•t Incr8A8elldecroase} In cash and ¢a$h
equivalents
1,463,915
1256,9931
Cash and cash equiwalents al beglnnlng of year
671,326
928,319
Cash and cash equSval•nts at gnd ol year
2,135,241
671,326

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting polleles
Charlty Informatlon
The Zochonis Charilablo Trust Is a charity eslablSsh8d under a trust deed. The reglslerod office 18 PZ Cussons
Plc, Manchester Business Park, 3500 Aviator Way, Manchester.
1.1 Accountlng conv•n￿On
The financial slalern8nls have been prepared in 8ccordan¢e with the charity's governing documènt, the
Charities Act 2011 and 'Accounling and Reporting by Charitie5.' Slat8menl ol Recommended Piaelice
applicable lo charfllas PTepaTing th8lr aecounls in a¢¢ordance wilh the Financjal Reporting Standard
applicable in the UK and RepL¢blic of Ireland IFRS 102) l8lf8clive 1 January 20191" The d)arity is a Publlc
Benèlil Enlily as defined by FRS 102.
The financlal $18lemenls have departad from the Charities IAccounl8 and Reports} Regulations 2008 only lo
the extent required to provide a true and faiT view. This departure has Involved following the Sl8temenl of
Recommgndad Practioe for charities applying FRS 102 ralher than the version of the Slalement of
Recommended Practice which is referred to in the Reuulalions bul whlch has since been withdrawn.
The accounts ar8 prepared in slerfing, which 18 Ihg fvnctional currèncy of the charlty. Monetary amounts In
Ihese financial slalamenls are Toundèd to the nearest £.
The a￿ount$ are prepared under th8 historical cost convention as modthed by the revaluation of fixed a$sg1
inveslrnenls.
1.2 Golng ¢oncorn
At the lim¢ of approving Ihtr finanaal slalemenls, the Iruslees have a reasonable expectation Ihal the charity
has adequate resources lo continue in operational exislencts foi the foreseaable future. Thus the Iruslees
contsnue lo adopt the going conctrrn basis of accounting In preparing the financl81 slalemenls.
1.3 Charltable fund$
Unresliicled funds represent aecumulaled income less tllrect chartsble and other &xpenditure. They are
expendable al thè discretion of the trustees.
Endowment funds are expendablo al the discrètion ol the trustees. They reprv3ent amounts 3ellled, logelher
with investment gains and losses less any capital èxpended by the Iruslees.
1.4 In¢om&
Income is recognI88d when the charity is legally antilled lo il after any perfomiance condllions have been mel.
the amounts can bg measured reliably, and il is probabl8 that incomo will bg received. Income from
inveslmtsnls is recognised al the ex.dlvidend date.
Legacies alld gifts of shares are recognSsed on recelpl or c*lhewwise if the charily has been notified of an
mp8nding dislribulion, the amount is known, and recelpl is expected. If the amounl 15 not known. the lègacy is
Irealed as 3 conlingenl asset.
1.5 Expendlture
Expendllure is recognlsed on an accruals basis.
io-

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Icontlnugdl
Aecountlng pollcleB
Charitablè expenditure comprises those costs incurred by the charlty in the d81ivery of Ils a¢tlMlies and
services for Ils beneficiaries. 11 includes both costs thal can be allocated directly lo such activities and those
costs of an indlrect Nature necgssary lo support them.
Grants payable are accounted for when the trustees have accepted a legal or mor81 obligation and 8ceounled
for as resources expended in the slalernenl tsf financial activiti8s. Activities that are wholly funded from lulure
income are d15dosèd in a nole lo the accounts.
Govarnance costs includÈ those costs assoaaled wlth meeting thè ￿nstItUtIOnal and slalulory requirements
of th8 charity and indude the audll fees and costs Ilnked lo the slraleglc management of the charity.
1.6 Cash and Cash gqulvalents
C8sh and cash equivalenl8 in¢luda cash in hand and d8posiis held al eall with banks.
1.7 Finan¢lal Instruments
The charity has elected to apply the provisions of Séction 11 'Basl¢ Financial Inslrumants. and Sèction 12
'Olhtrr Flnancial Inslrumenls Issues, of FRS 102 to all of ils financial inglrLJmenls.
Financfal in81rumenls are recogni8ed In the charily's balan¢a sheet when the charity becomes party lo th8
contractual provisions of the inslrumenl.
Fln8n¢Sal assets and liabillli8s are offset, with the nèl amounts prosènled in th8 ffin8ncial slalemenls, when
there is a legally enlorceable right to set off the recognised amounts and there Is an Intention to 6elUe on a nel
basis or lo reali8e the asset and settle the liability simultaneously.
8aslc flnancial a$set$
Basie financial assets, whlch indude cash and bank balanc8s, are measured al transaction pric&.
Otherfinancial assols
Financial assets elassified as other financial assets arg slated al fair value with any gains or108ses arisbng on
remeasuremenl rocognised in the slalamenl of financial activities.
Fln8neAal assets are der8eognlsed only when the contractual rights lu the cash flows from the assèt explre or
ara sgllled, or when Ihe charily transfers the financial asset and substantially all the risks and rawards of
ownership lo another entity. or if some significant risks and reward6 of own8rship ale rètained bul control of
the asset ha8 transferred lo another pariy that is able 10 Sell the asset in its entirely lo an unrelated third party.
Basic linèftclal liabilities
Basic financlal liabilities, whlch include olhèr creditor5, are recognl8ed at Iran3action prSc6.
1.8 Inv•slments
Investments are 81aled al market value. Realised and unreali5ed gains and lossès are shown In the
approprlale section of the stBlem8nl of financial a¢tlvilies.

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
Investm¥nts
Unrestrlcted Unr8strlcted
fund$
funds
2024
2023
Income from li51ed inveslrnenls
Intere51 receivable
3,308,646
4,022
4.045,784
9,131
3.312,668
4.054,915
Charitsble attivltl
2024
2023
Bank charge5
Leg81 and professional fees
60
13,924
56
21,449
13,984
21,505
Grant funding of activities Isee note 41
Shar& of governance cos18 Iseg nola 5}
3.481,840 4,248.800
36,581
32,668
3,S32,405 4,302.973
Grants payablo
2024
2023
Grants lo Insthtullons..
Educallon
Health
Childrèn & youth
Ovèrseas
Emergency
Sodal equity
1,026,550 1.121,550
945,450 1.005,750
426.340
413,500
312.¢X)O
415,000
60,000
771.500 1.233,000
3,461,840 4.248,800
Social equity grants Sn the year include £12,QOO {2023'. £12,OCX)I lo Stockport Women's Centre ol which
related party ol a trustee was a IFuslee during the year.
12.

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Support and yov•mane• costs
2024
2023 Bag19 of allocation
Staff costs
30.741
26.608 Staff lime
Audit fees
5.840
4.060 Full c081
36,581
32.668
Analysed be￿@@n
Charitable activities
36,581
32.668
Trustee
Durlng the period, one Iruslee received a 10181 of £5,374 {2023'. £5311 of reimbursed travel and
accommodation expenses. No other tru8le85 lor any persons connected wllh them) received any
remuneration. beneflls or expenses from the d)8rlly during the year.
Employ••¥
Number of employees
The average monthly number of employees during tho year was..
2024
Numbgr
2023
Number
Admini81ration
Employmant costs
2024
20Z3
Wages and s8larfo$
30.741
28,608
13-

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Not galn¥l{loJseBI on Investments
2024
2023
Galnl{losBI on revaluation of investment8
163,281,265) {10,175,8761
Taxation
The charity 15 exempl from lax on income and gains falling w51hln 5ecllon 505 of the Taxes Act 1988 or secllon
252 of the Taxation of Chargeable Gains Act 1992 to the exlenl that these are applied lo 118 charitable obj8Cts.
10 Flx•d assèt Inv8$tm•nts
Llsted
Investments
Cost or valuatlon
Al 6 April 2023
Valuation ¢h8ng98
118.018.037
183,281,265)
At 5April 2024
54.736,772
Carrylng amount
Al 05 Aprll 2024
54,736,772
Al 05 April 2023
118,018,037
14-

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
11 Flnanclal In¥truments
2024
2023
Carrying amount of financlal assets
Debt instruments measured al amortised cost
Equity Instruments measured al cost less impairment
2,135,241
671,326
54.736,772 118.018,037
Carrylng amount of flnanclal Ilabllltles
Mea8ured al amortised cost
5,040
4,000
12 Debtors
2024
2023
Amounts falllng dug wlthln ono yoar:
Prepayments and accrued Incorne
1,682,612
13 cr￿ltOrS. amounts falllng dug wlthln ono year
2024
2023
Accruals and dofgrred income
5.040
4,000
14 Anatysl$ of net assets b¥tw••n funds
Unre6trlcted Endowment
funds
funds
2024
2024
Totsl Unrèstrlcted Endowment
funds
fund8
2023
2023
Total
2024
2023
Fund balances at
5 Aprfl 2024 arè
represented by..
Invèslmenls
Nel curronl assèts
54,736,772
54,736,772
2,130,201
118,018,037 118,018,037
2,349.938
2,130,201
2,349,938
2,130.201
54,736,772
$6.866,973
2,349,938 118.018,037 120,367,975
IS Rglatsd party transactlons
There were nts relaleil paty Iransaclions in ihe financial yoar lo 5 April 2024 or 5 April 2023 other than those
disclosed in note 4.
15

THE ZOCHONIS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
16 Cash generated from operations
2024
2023
DefieS1 for Ihg ygar
163,501,LK)21 110,423,934)
Adjuslfflenls for..
Inveslment income recognised in stslement of financial aclivilleB
Fair value losses and (gains) on investment valuations
{3,312,6681 14.054,9151
63,281,265
10,175,876
M0￿MentS In worklng capital..
Decrease in debtors
Increasel{decreasel in creditors
1,682,612
1,040
18,9351
Cash ab$ort)ed by operatlon¥
(1,848.7531 14,311,908)
17 An#lysi$ of Changes In not fund$
The charfty had no material debt durfng the year.
16-