## 

## 

||`Page`|
|---|---|
|`Summary`|`1`|
|`Trustees’certificateandTrustees’report`|`2-6`|
|`Independentauditor'sreport`|`7-10`|
|`Statementoffinancialactivities`|`11`|
|`Balancesheet`|`12`|
|`Notestothefinancialstatements`|`13- 23`|





## 

## 

|`Dateofsettlement`|`24May1977`|
|---|---|
|`Settlors`|`CyrilFrankCosin`|
||`PamelaMaryCosin`|
|`Trustees`|`JamesWilliamStebbings`|
||`NicolasRobertClifford`|
||`AndrewJohnFrancisStebbings(Deceased9 June2023)`|
||`JenniferAnneClifford`|
||`NicholasFrankCosin`|
||`LloydGay(Appointed17November2023)`|
|`Mainterms`|`Thisisa charitablesettlementforthebenefitforortosuch`|
||`charitableobject,purpose,institutionsorsocietiesastheTrustees`|
||`mayintheirdiscretionthinkfitwithinthefollowingdefined`|
||`beneficialareas:`|
||`(a)medicalresearchandeducation`|
||`(b)thewelfareofthepoor,agedandthesick`|
|`Registeredaddress`|`SafferyLLP`|
||`StCatherine'sCourt`|
||`BerkeleyPlace`|
||`Clifton`|
||`Bristol`|
||`BS81BQ`|
|`Accountantsandauditors`|`SafferyLLP`|
||`StCatherine's Court`|
||`BerkeleyPlace`|
||`Clifton`|
||`Bristol`|
||`BS81BQ`|
|`Investmentmanagers`|`CazenoveCapitalManagement`|
||`1LondonWallPlace`|
||`London`|
||`EC2Y5AU`|
|`Registeredcharitynumber`|`274862`|





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# 21 January 2025 



## 

## 

## 

|||`Unrestricted`|`Endowment`|`Total`|`Total`|
|---|---|---|---|---|---|
|||`Funds`|`Funds`|`2024`|`2023`|
||`Note`|<br>`£`|`£`|`£`|`£`|
|`Income:`||||||
|`Investmentincome`|`2`|`102,134`|`-`|`102,134`|`73,236`|
|`Totalincomingresources`||<br>`102,134`|<br>`-`|<br>`102,134`|<br>`73,236`|
|`Expenditure:`||||||
|`Raisingfunds`|`3`|`-`|`(45,260)`|`(45,260)`|`(47,698)`|
|`Charitableactivities`|`4`|`(523,487)`|`-`|`(523,487)`|`(579,530)`|
|`Totalexpenditure`||<br>`(523,487)`|<br>`(45,260)`|<br>`(568,747)`|<br>`(627,228)`|
|`Netoutgoingresourcesfortheyear`||`(421,353)`|`(45,260)`|`(466,613)`|`(553,992)`|
|`Otherrecognisedgainsandlosses:`||||||
|`Gains/lossesoninvestments`|`7`|`-`|`780,115`|`780,115`|`(170,002)`|
|`Grosstransfersbetweenfunds`||<br>`421,353`|<br>`(421,353)`|<br>`:`|<br>`-`|
|`Netmovementinfunds`||`-`|`313,502`|`313,502`|`(723,994)`|
|`Balancesbroughtforwardat1 April2023`||`-`|`7,381,005`|`7,381,005`|`8,104,999`|
|`Balancescarriedforwardat31March`|`2024`|<br>`-`<br>|<br>`7,694,507`<br>|<br>`7,694,507`<br>|<br>`7,381,005`<br>|





||||<br>|<br> <br> <br> <br> <br> <br>`a`|
|---|---|---|---|---|
||`Financedby:`<br>|||<br>|
|`-`<br>|`EndowmentFunds- general`<br>||||
||`Thebalancesheethasbeenapprovedonbehalfofthe`<br>|<br>|`-`<br>||
|`_`<br>|`TrusteesonandsignedonbehalfoftheTrusteesby`<br>|`—`<br>|||
||`NicholasFrankCosin`<br>||||
||`ChairofTrustees`<br>|||<br>|





## 



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## 

## 

## 

## 

|`Investmentincome`|`2024`|`2023`||
|---|---|---|---|
||`£`||`£`|
|`Incomefromlistedinvestments`|`86,968`|`68,272`||
|`Interestreceivable`|`13,579`|`4,964`||
|`Excessreportableincome`|<br>`1,587`|<br>`-`||
||`102,134`<br> <br>|`73,236`<br> <br>|<br> <br>|





## 

|`3`|`Raisingfunds`|`2024`|`2023`|
|---|---|---|---|
|||`£`|`£`|
||`Investmentmanagementfees`|<br>`45,260`|<br>`47,698`|
|||<br>`45,260`|<br>`47,698`|
||`Charitableactivities`|`2024`|`2023`|
|||`£`|`£`|
||`ITexpenses`|`4,893`|`4,118`|
||`Bankcharges`|`105`|`111`|
||`Accountancyfees`|`16,800`|`14,640`|
||`Accountancyfees- underprovision`|`7,274`|`-`|
||`Administrationfees`|`9,940`|`5,852`|
||`Auditfee`|<br>`9,660`|<br>`13,842`|
|||`48,672`|`38,563`|
||`Grantspayable(seenote5)`|<br>`474,815`|<br>`540,967`|
|||<br>`523,487`|<br>`979,530`|
||`Grants`|`2024`|`2023`|
|||`£`|`£`|
||`999Club`|`-`|`10,000`|
||`AbilityBow`|`5,000`|`-`|
||`AceAfrica`|`=`|`5,000`|
||`ActiononPoverty`|`=`|`15,000`|
||`AfricanAdventuresFoundation`|`8,415`|`-`|
||`Afrikids`|`10,000`|`:`|
||`AmosTrust`|`5,000`|`:`|
||`AmukaFoundation`|`-`|`3,768`|
||`BangEdutainmentLtd`|`-`|`5,000`|
||`BaobabCentreforYoungSurvivorsinExile`|`5,000`|`=`|
||`Bliss`|`5,000`|`7`|
||`BrentCentreforYoungPeople`|`.`|`15,000`|
||`CardinalHumeCentre`|`-`|`5,000`|
||`CarisFamilies`|`5,000`|`-`|
||`ChangingFaces`|`5,000`|`-`|
||`CHASEAfrica`|`-`|`15,000`|
||`ChildBrainInjuryUnit`|`5,000`|`-`|
||`ChildofHope`|`-`|`4,900`|
||`Child.orgInternational`|`1,240`|`:`|
||`ClaremontProject`<br>|`6,140`<br>|`-`<br>|





## 

## 

## 

|`Grants(continued)`|`2024`|`2023`||
|---|---|---|---|
||`£`||`£`|
|`ComfortInternational`|`:`|`3,680`||
|`CommunityDrugandAlcoholRecoveryServices`|`5,000`|`5,000`||
|`COREClapton`|`-`|`5,000`||
|`DECEarthquakeAppeal`|`-`|`22,000`||
|`DECPakistanFloodAppeal`|`-`|`5,000`||
|`Deki`|`6,000`|`-`||
|`DisabilityAfrica`|`3,211`|`:`||
|`DoorstepLibraryNetwork`|`-`|`10,000`||
|`EcoBrix`|`7,000`|`-`||
|`ECPATUK`|`-`|`5,000`||
|`EdUKaid`|`-`|`3,455`||
|`Ella'sHome`|`5,000`|`-`||
|`EveAppeal`|`5,000`|`:`||
|`FineCellWork`|`-`|`30,000`||
|`FiveTalentsUKLtd`|`10,000`|`5,000`||
|`Foodcycle`|`8,000`|`-`||
|`FriendsofKipkelion`|`2,900`|||
|`FriendsofMonze`|`-`|`4,750`||
|`FutureFrontiers`|`5,000`|`:`||
|`GiveDirectlyUK`|`-`|`5,000`||
|`GlassDoorHomelessCharity`|`-`|`5,000`||
|`GoBeyond`|`-`|`3,000`||
|`GroundwaterRelief`|`5,000`|`-`||
|`HabitatforHumanityGB`|`-`|`5,000`||
|`HackneyPlaybus`|`15,000`|`4,000`||
|`HamlinFistulaUK`|`5,000`|`-`||
|`HavenHouseChildren'sHospice`|`5,000`|`-`||
|`HeadwayEastLondon`|`-`|`5,000`||
|`HoardingUK`|`-`|`5,000`||
|`Home-StartCamdenandIslington`|`10,000`|`-`||
|`Home-StartWestminster`|`5,000`|`-`||
|`HopeHealthAction`|`7,900`|`-`||
|`HOPEInternationalDevelopmentAgencyUK`|`-`|`5,000`||
|`Huntington'sDiseaseAssociation`|`-`|`3,000`||
|`ImperialHealthCharity`|`10,000`|`-`||
|`InTouch/KidsUnited`|`-`|`3,000`||
|`InteractStrokeSupport`|`3,000`|`-`||
|`InternationalHealthPartners`|`-`|`5,000`||
|`IriseInternational`|`4,000`|`-`||
|`IslingtonCentreforRefugeesandMigrants`|`-`|`5,000`||
|`James’PlaceCharity`<br>|`-`<br>|`5,000`<br>|<br>|





## 

|`Grants(continued)`|`2024`|
|---|---|
||`£`|
|`Justbea Child`|`-`|
|`JustforKidsLaw`|`-`|
|`KatherineLowSettlement`|`-`|
|`KidsClubKampala`||
|`KidsMatter`|`5,000`|
|`KimbutaRuralDevelopment`|`8,000`|
|`LearnEnglishatHome`|`5,000`|
|`LegacyofWarFoundation`|`5,000`|
|`MaaShanti`|`5,000`|
|`MadeInHackney`|`-`|
|`MahaDeviYogaCentre`|`-`|
|`MakhadTrust`|`3,000`|
|`Mammakind`|`5,000`|
|`MargaretPykeFoundation`|`5,000`|
|`MedairUK`|`10,000`|
|`MedecinsSansFrontieres`|`15,000`|
|`MentoringPlus`|`-`|
|`MousetrapTheatre`|`5,000`|
|`NEPAL-ease`|`=`|
|`NewWays`|`-`|
|`NorthPaddingtonFoodBank`|`5,000`|
|`OnCallAfrica`|`10,000`|
|`OnlyConnect`|`-`|
|`OvarianCancerAction`|`-`|
|`PembrokeHouse`|`-`|
|`PolkaChildren'sTheatreLtd`|`-`|
|`PositiveEast`|`«`|
|`Power2 `|`10,000`|
|`Pragya`|`-`|
|`PrisonFellowship`|`-`|
|`PrisonersAbroad`|`5,000`|
|`PumpAid`|`10,000`|
|`RailwayChildren`|`=`|
|`RaisingFuturesKenya`|`-`|
|`RoundaboutDramaTherapy`|`5,444`|
|`Re-engage`|`-`|
|`RenewableWorld`|`*`|
|`RisingSunDomesticViolenceAbuseService`|`-`|
|`SALVEInternational`|`5,000`|
|`SchoolFoodMatters`|`5,000`|
|`SeparatedChildFoundation`<br>|`3,000`<br>|





## 

## 

## 

|`Grants(continued)`|`2024`|`2023`||
|---|---|---|---|
||`£`||`£`|
|`ShareCommunity`|`17,000`|`-`||
|`ShepherdsBushFamiliesProject`|`-`|`5,000`||
|`SHINE`|`-`|`3,380`||
|`StCuthbert'sCentre`|`9,900`|`-`||
|`StMaryleBowYoungHomelessCharity`|`-`|`5,000`||
|`StepbyStepLondon`|`7,000`|`-`||
|`Switchback`|`5,000`|`>`||
|`SydenhamGarden`|`-`|`5,000`||
|`TallShipsYouthTrust`|`3,000`|`-`||
|`TanzaniaDevelopmentTrust`||`5,000`||
|`TemwaUK`|`15,000`|`-`||
|`TheBrainTumourCharity`|`-`|`30,000`||
|`TheCamdenPsychotherapyUnit`|`7,500`|`5,000`||
|`TheCoronersCourtSupportService`|`-`|`5,000`||
|`TheHummingbirdInitiative`|`2,500`|`-`||
|`TheNehemiahProject`|`5,000`|`-`||
|`TheNoWayTrust`|`-`|`5,000`||
|`TheSparkleFoundation`|`-`|`2,025`||
|`TheStuartLowTrust`|`-`|`4,955`||
|`TheVirtualDoctors`|`15,000`|`-`||
|`Tiyeni`|`5,000`|`-`||
|`ToLiveinHOPE`|`9,500`|`-`||
|`ToucanEmployment`|`5,000`|`-`||
|`TransformBurkina`|`3,000`|`-`||
|`TreasuresFoundation`|`4,000`|`-`||
|`TrussellTrust`|`-`|`26,000`||
|`UEA- ChildBoneCancerStudy`|`25,965`|`-`||
|`UniversityofEastAnglia`|`-`|`10,000`||
|`Unseen`|`5,000`|`-`||
|`VillageWater`|`-`|`7,360`||
|`WaterWitnessInternational`|`15,000`|`-`||
|`WingsofHealing`|`-`|`5,000`||
|`Woman'sTrust`|`-`|`30,000`||
|`WonderFoundation`|`-`|`5,000`||
|`WyeValleyMusic`|`-`|`2,000`||
|`YoungandInspired`|`5,000`|`:`||
|`ZambiaOrphansAidUK`|`-`<br>|`5,000`<br>|<br>|
||`480,815`|`540,967`||





## 

## 

## 

||`Grants(continued)`|`2024`|`2023`|
|---|---|---|---|
|||`£`|`£`|
||`Grantsrepaid`|||
||`DECEarthquakeAppeal`|<br>`(6,000)`|<br>`n`|
|||<br>`474,815`|<br>`540,967`|
|`6`|`Investments`|`2024`|`2023`|
||`Quotedinvestments`|`£`|`£`|
||`Marketvalue1 April2023`|`7,585,947`|`8,281,482`|
||`Additions`|`1,000,331`|`1,029,107`|
||`Disposals`|`(2,073,597)`|`(1,612,100)`|
||`Unrealisedgain/(loss)onrevaluation`|`776,827`|`(173,573)`|
||`Realisedgain`|`3,288`|`3,571`|
||`Netmovementincashheldforinvestment`|<br>`520,029`|<br>`57,460`|
||`Marketvalue31March2024`|`7,812,825`<br>|`7,585,947`<br>|
||`Theinvestmentscanbesummarisedasfollows:`|||
||`InvestmentassetsintheUK`|`5,255,373`|`5,087,655`|
||`InvestmentassetsoutsidetheUK`|<br>`1,777,109`|<br>`2,237,978`|
|||`7,032,482`|`7,325,633`|
||`Cashheldforinvestment`|<br>`780,343`|<br>`260,314`|
|||`7,812,825`<br>|`7,585,947`<br>|



||`At31Marchthefollowinginvestmentsaccountedformorethan5%oftheoverall`|`At31Marchthefollowinginvestmentsaccountedformorethan5%oftheoverall`|`portfolio`|
|---|---|---|---|
||`excludingcash:`|||
|||`2024`|<br>`2023`|
||`SchroderGlobalSustainableGrowth`|`66.0%`|<br>`55.2%`|
||`SparinvestEthicalGlobal`|`8.0%`|<br>`8.2%`|
|`7`|`Gains/(losses)oninvestments`|`2024`|<br>`2023`|
|||`£`|<br>`£`|
||`Revaluationofinvestments`|`776,827`|`(173,573)`|
||`Gainonsaleofinvestments`|`3,288`<br>|`3,571`<br>|
|||`780,115`<br> <br>|`(170,002)`<br> <br>|





## 

## 

|`8`|`Debtors`|`2024`|`2023`|
|---|---|---|---|
|||`£`|`£`|
||`Amountsfallingduewithinoneyear:`|||
||`LordandLadyLurganTrust`|`680`|`81`|
||`MasonLePageCharitableTrust`|`41`|`41`|
||`ITexpensesprepaid`|<br>`409`|<br>`=`|
|||<br>`1,130`|<br>`122`|
|`9`|`Creditors`||`Restated`|
|||`2024`|`2023`|
|||`£`|`£`|
||`Amountsfallingduewithinoneyear:`|||
||`Grantspayable`|`148,000`|`125,000`|
||`Auditfees`|`13,656`|`8,460`|
||`Accountancyfees`|`32,792`|`15,600`|
||`Administrationfees`|<br>`175`|<br>`-`|
|||`194,623`<br>|`149,060`<br>|
||`Amountsfallingdueaftermorethanoneyear:`|||
||`Grantspayable`|`10,000`<br>|`60,000`<br>|
|||`10,000`<br>|`60,000`<br>|



## 

## 



## 

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## 

||||||`Restated`|
|---|---|---|---|---|---|
|||||`2024`|`2023`|
|||||`£`|`£`|
||`FinancialAssets`|||||
||`Measuredatfairvaluethroughnet`|`income:`||||
||`ListedInvestments`|||`7,812,825`|`7,585,947`|
||`Debtinstrumentsmeasuredatamortisedcost:`|||||
||`Cash`|||<br>`85,175`|<br>`3,996`|
|||||<br>`7,898,000`|<br>`7,589,943`|
||`FinancialLiabilities`|||||
||`Measuredatamortisedcost:`|||||
||`Creditors`|||<br>`194,623`|<br>`209,060`|
|||||<br>`194,623`|<br>`209,060`|
|`13`|`MovementinFunds`|`Unrestricted`|`Endowment`|`Total`|`Total`|
|||`Fund`|`Fund`|`2024`|`2023`|
|||`2024`|`2024`|`£`|`£`|
||`Balanceat1 April2023`|`-`|`7,381,005`|`7,381,005`|`8,104,999`|
||`Incomingresources`|`102,134`|`-`|`102,134`|`73,236`|
||`Resourcesexpended`|`(523,487)`|`(45,260)`|`(568,747)`|`(627,228)`|
||`Otherrecognisedgainsandlosses`|`-`|`780,115`|`780,115`|`(170,002)`|
||`Transferbetweenfunds`|<br>`421,353`|<br>`(421,353)`|<br>`:`|<br>`:`|
||`Balanceat31March2024`|<br>`-`|<br>`7,694,507`|<br>`7,694,507`|<br>`7,381,005`|
|`14`|`PrioryearmovementinFunds`|`Unrestricted`|`Endowment`|`Total`|`Total`|
|||`Fund`|`Fund`|`2023`|`2022`|
|||`2023`|`2023`|`£`|`£`|
||`Balanceat1 April2022`|`-`|`8,104,999`|`8,104,999`|`8,230,403`|
||`Incomingresources`|`73,236`|`-`|`73,236`|`39,828`|
||`Resourcesexpended`|`(579,530)`|`(47,698)`|`(627,228)`|`(725,338)`|
||`Otherrecognisedgainsandlosses`|`-`|`(170,002)`|`(170,002)`|`560,106`|
||`Transferbetweenfunds`|<br>`506,294`|<br>`(506,294)`|<br>`-`|<br>`-`|
||`Balanceat31March2023`<br>|`-`<br> <br>|`7,381,005`<br> <br>|`7,381,005`<br> <br>|`8,104,999`<br> <br>|





## 

## 

|`15`|`Analysisofnetassetsbetweenfunds`|`Unrestricted`|`Endowment`|`Total`|
|---|---|---|---|---|
|||`Fund`|`Fund`|`2024`|
|||`2024`|`2024`|`£`|
||`Fundbalancesat31March2024arerepresentedby:`||||
||`Investments`|`-`|`7,812,825`|`7,812,825`|
||<br>`Netcurrentassets`|<br>`-`|<br>`(108,318)`|<br>`(108,318)`|
|||<br>`-`|<br>`7,704,507`|<br>`7,704,507`|
|`16`|`Prioryearanalysisofnetassetsbetweenfunds`|`Unrestricted`|`Endowment`|`Restated`|
|||`Fund`|`Fund`|`2023`|
|||`2023`|`2023`|`£`|
||`Fundbalancesat31March2023arerepresentedby:`||||
||`Investments`|`-`|`7,325,633`|`7,585,947`|
||<br>`Netcurrentassets`|<br>`:`|<br>`55,372`|<br>`3,996`|
|||<br>`-`|<br>`7,381,005`|<br>`7,589,943`|
|`17`|`Prioryearstatementoffinancialactivities`||||
|||`Unrestricted`|`Endowment`|`Total`|
|||`funds`|`funds`|`2023`|
|||`£`|`£`|`£`|
||`Incomefrom:`||||
||`Investments`|`73,236`|`-`|`73,236`|
||`Expenditureon:`||||
||`Raisingfunds`|`-`|`(47,698)`|`(47,698)`|
||<br>`Charitableactivities`|<br>`(579,530)`|<br>`-`|<br>`(579,530)`|
||<br>`Totalresourcesexpended`|<br>`(579,530)`|<br>`(47,698)`|<br>`(627,228)`|
||<br>`Net(losses)/gainsoninvestments`|<br>`-`|<br>`(170,002)`|<br>`(170,002)`|
||`Net(outgoing)/incomingresourcesbefore`||||
||`transfer`|`(506,294)`|`(217,700)`|`(723,994)`|
||<br>`Grosstransferbetweenfunds`|<br>`506,294`|<br>`(506,294)`|<br>`-`|
||`Netmovementinfunds`|`-`|`(723,994)`|`(723,994)`|
||`Fundbalancesat1 April2022`|<br>`-`|<br>`8,104,999`|<br>`8,104,999`|
||`Fundbalancesat31March2023`<br> <br>|`-`<br> <br>|`7,381,005`<br> <br>|`7,381,005`<br> <br>|





## 

##