The Peter Stebbings Memorial Charity Financial statements for the year ended 31 March 2025 Registered charfity number 274862
The Peter Stebbings Memorfial Cbarfity Contents Page Sumtnary Trustees. cerhficate and Trustees. report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the financial statements
The Peter Stebbings Memorfial Cbarfity Summary FOT theyeaT ended 31 March 2025 Date of settlement 24 May 1977 Settlors Cyril Frank Cosin Pamela Mary Cosin Trustees james William Stebbings Nicolas Robert Clifford jennifer Anne Clifford Nicholas Frank Cosin Lloyd Gay Main terms This Is a charitable settlement for the benefit for or to such charlble object. purpose. institutions or societies as the Trustees wnay in their discretion think fit within the following defined beneficial areas: (a) medical research and education (b) the welfare of the poor, aged and the sick Reglstered address and Accountsnt Saffery LLP Sr Catherlne's Court Berkeley Place Clifton Bristol BS81BQ Independent Examlner Michael Strong FCA cfA Sr Catherlne's Court Berkeley Place Clifton Bristol BS8 IBQ Investment managers Cazenove Capital Management I tATrndon Wall Place London EC2Y SAU Registered charity number 274862
The Peter Stebbings Memorfial Cbarfity Trustees. report FOT theyeaT ended 31 March 2025 The Trustees present their annual reportand financial statements covering the Charity's activitie5 for the year ended 31 March 2025. Oblectives and acdvldes of the Trust The general objects ofthe Charity as specified in the Governing Document are to apply the incoming resources to charitable purposes and particularly for medical research and education and the welfare of the poor. aged and sick The current main areas of interest are.. UK Medical research and care Offender support Mental health / counselling Vulnerable families, women and children Overseas- Sub-saharan Africa only Sanitation, irrigation. hygiene and access to clean water Women's empowerment. including education, reproductive choice & microfinance Basic skills and tools The Trustees conducted a Review ofgrant making in 2021. They decided to reduce the number ofareas which the Charity would focus on geographically, overseas, and by type of activity. In the UK the Trustees reduced the areas ofinterest from 8 to 4, as above, and for Overseas, from worldwide to Sub- Saharan Africa. For Over.%eas. grants are now to be concentrated on only the 3 areas listed above. The purpose of these more restricrive criteria, is to reduce the number olapplications received through our open online application procedure. so that each can be gtven closerattention. and to give more focus to the Charity'5 activitie& Grants are made for specific projects run by or supported through charities registered with the Charity Commission and recipients ofgranrs are required to submit a report on the use of the funds within an appropriate period after the grant is made. The Charity also assists with general or core Costs where the work of the organi5atiotL atld its elfertiveness is known to the Trustees. The Trustees have referred to the Charity Commission's general guidance on public benefit when revicwing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year. As a grant-giving Charity, the benefit to the public is conferred by the activities that are supported in awardinggrants to other registered charities delivering services.
The Peter Stebbings Memorfial Cbarfity Trustees. report (continued) FOT theyeaT ended 31 March 2025 Structure. managementand governance arrdngements The Charity is an unincorporated trus¢ constituted under a trust deed dated 24 May 1977 and is a registered charity, number 274862. The Chariry was established by an initial gift by the founders, Dr Cyril Frank Cosin, MD, MRCP, DMRD and Pamela Mary Cosin. The Charity does not actively fundraise and seeks to continue the philanthropic work through careful management of its resources. The names ofthe Trustees who have acted during the yearare set out on page l. The trust deed provides for the appointment of new Trustees by the current Trustees. In selecting a new Trustee, Trustees will have regard to the history ofthe Charity and to the relevant skills and experience required to complement those ofthe continuing Trusrees. On appointment, new Trustees are given an introduction to the work of rhe Charity. its strategy and operational policies and are provided with the information they need to fulfil their roles. including information about the role of a charity trustee and charity law. With the two appointments made on 10th NoveTnber 2021, the next generation of the family have become involved with the administration and direction of the Charity. The Trustees meet at least 4 times a year to considergrant applications and monitor grants awarded, to oversee financial matters and investment performance. Once a year. usually in February, Trustees meet formally with thc Investmcnr Managers ro review holdings and performance. Al least once a year the Trustees revlew rhe broad straregy and areas ofaciivity for rhe Charlty, its reserves and risk management policy. The day-to-day administration of grants and processing and handling of applications prior to consideration by the Trustees is the responsibility of Marie Louise O'connor who acts as administrator on a part time basi& In the calendar years 2025 and 2026 the Trustees propose to conduct a review of the Strategy, broad direction and management of the Charity, which will. by then be 48 years following establishment. A specialist consultant will assist the Trustees in this task Achlevements and perforniance of the trust The website is the principal source of inforn)ation about the Charity. The Trustees invite applications through the website which Sets out the priorities ihey intend to favour in assessing applications. Those priorilies are regularly reviewed as noted above and changes made to the information which 15 Posted on the web51te. During the year charitable donations were made to 66 different charities [2024.. 70 Charities) totalling £474,57112024.. £474,815]. A full list is to be found in note 5 on pages 13 to 16 and shows that the Trustees have lulfilled the objertives of the Trust during the financial year by makitlg grants to haritable institutions for the benefit to the public. Over 200 applications were e]Ved and considered for shortlisbng by Trustees. They are loaded onto the Betlefartor plattortn on which Trustees can add comments when scrutinising them.
The Peter Stebbings Memorfial Cbarfity Trustees. report (continued) FOT theyeaT ended 31 March 2025 Nick Cosin took over as Chair in lune 2023. The Trustees appointed Lloyd Gay as a Trustee on 17 November 2023. Lloyd worked for some years as the accountant for the Charity and knows its work well. The Trustees great]y appreciate his supporL Marie-Louise O'connor has been the administrator for the Charity for over 10 years. She works on a part time basis. and the Trustees are reliant on her accumulated wisdorn and efficiency. Flnanclal revlew. Investment pollryand reserves These financial statements for the year ended 31 March 202S have been prepared in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice) and comply with the Statement of Recommended Pracrice ISORPI Accounting and Reporting by charities FRS102 effecrive from lanuary 2019. The financial statements are prepared under the historic cost convention. Under ihe terms of the Trust Deed. the Trustees have wide powers of investmenL The Trustees have delegated the management of the investment portfolios to the Investment Advisers appointed. The investments are held by the Investment Adviser'5 nominees. As part of the Review of 2021, a revised investment policy has been introduced to recogni5e the importance ofa clear policy on Environmental, Social and Governance criteria. Further, the Trustees have adopted a more stringent ethical stance on investments in armaments, tobacco and other area The income for theyear was £101,840 compared to the previous year income of £102,134. The decrease was a result ofa small decrease in the interest received on cash held by the charity. The total return on the investmeni Portfolio for the yearwas-1.7%12024: +11.7%). The value of the investments of the Charity decreased by £677.80612024'. increased by £226.8781, which included gains of £1,040,6471£3,2881 on the disposal of investments and unrealised losses on year end valuation of £1,203,89312024.. unrealised gains of £776,827). Management, administration and other expenses for the year amounted to £75,90712024.. £93,932). Of this sum, £46,254 {2024.. £45,260) is Investment Management costs, and £16,72812024.. £33,734} is Accountancy and Independent Examination cost and combined they represent 831>6 {2O24.. 8496) of the total of these costs. The reduction in the total costs in theyear reflects the Trustees decision to move from audit to independent examination ofthe financial statements. Trustees will continue to review this proportion. Details of movements itl the funds are set out in notes 6 and 7 on page 17 of the financial statements. After Charitable expenditure of £504.224 [2024.. £523,487) and expenditure on raising fund.s of £46.254 [2024.. £45,260) there wa5 a net decrease in funds olE611.884 [2024.. net increase OF £313,502) in the year. The assets reflected in the balance sheet are available and adequate for the Trustees to fulfil the obligations of the Charity.
The Peter Stebbings Memorfial Cbarfity Trustees. report (continued) FOT theyeaT ended 31 March 2025 Grants expendlture The Trustees have deterniined that the Charity should adopt a total return approach and have set a target for annual expenditure of not less than 5% of the Charis Gapital endowment on grants. Based on this policy grants approved in the year were £474,571 or 6.160A) {2024.. £474,815 or 6.43%) and are set out in note 5 to the financial statements. Where a grani is awarded for more than one year. an accrual will be included in the financial statements going fonvard. The Trustees are broadly working to a 25 year time horizon, for which expenditure at this rate would render the assets sustainable. Both the level and targeting of future spends are the subject of the Strategy Review planned for 2025 and 202& Reserves policy The Fnunder5 endowed the Charity with property and an inveftment portfolio to be held as expendable endowmenL In accordance with their intentions, the endowment. will be retained a.s a long-term Endowment Fund to provide a return which will be expended in achieving the objects of the Charity under the total return basis referred to above. No specific reserves are held. Although future conditional Brant commitments have been made, the Trustees consider that the general resources and expected returns on the assets will be more than adequate to meet any such future commitments. The reserves being held as at 31 March 2025 are £7,082,62312024.. £7,694,507). Rlsk management The Trustees have ideniified the key risks which affect the Charity and considered steps to mitigate those risks and effective internal controls have been implemented. The key risk is that grants will not be used for the purpose for which they were given, and this is managed by requiring a timely report from each recipient which must be a Registered Charity. The maln uncertainty is the long-tem Investment performance of the endowment and the Impact of a Sustained underperformance. Thi5 15 tnanaged by a regular rewew of the inve5trnent policie5 and a suitably diverse asset allocation to adapt to anticipated market performance. The rate of Spend is reviewed in the light ofthe expected longer-terni return on assets and the level ofcommitments. Future plans Given curretlt flurtuations in the inve%ttnent markets the Tru.%tee5 will review the level of allocation to haritable activitie5 for the comitlgyear bearing in mind realistic returtL5 based on market predictions.
The Peter Stebbings Memorfial Cbarfity Trustees. report (continued) FOT theyeaT ended 31 March 2025 Going concern There are no material uncertainties about the Charity's ability to continue as a going concern. Statement of trustees, responsibilities The Trustees are responsible for preparing the Tru5tees' Report and the financial statements in accordance with applicable law 3nd United Kingdom Accounting Standards. The law applicable to charitie5 in England and Wales requires the trustees to prepare financial statements for each financial year which &ve a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select Suitable accounting policies and then apply them consistently.. ohserve the method.s and principles in the Charitief SORP IFRS 1021.. make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare rhe financial starements on the going concern basis unless it Is Inappropriate to presume that the charity will continue in operational existence. The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trusr deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved on behalf olthe Trustees on atld sigrled on behalf of the Trustee5 by Nicholas Frank Cosin Chair of Trustees
The Peter Stebbings Memorfial Cbarfity Independent examiner's report to the Trnstees FOT theyeaT ended 31 March 2025 I report to the trustees on my examination of the accounts of the Peter Stebbing5 Memorial Charity Ithe Trustl for the year ended 31 March 2025. Respective Responsibilities of trustees and examiner As the charity trustees of the Trust you are resnsIble for the preparation of the accounts in accordance with the requiretnents of the Charities Act 2011 ['the Act.). I report in respect of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{51(b) of the ACL Basls of Independent examlnerfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the chariry and a comparison of the accounrs presented with rhose records. 11 also includes consideration ofany unusual Items or disclosures in the accounrs. and seeklng explanations from you as rrustees concernin2 any such mattLirs, The procedures undertaken do noi provide all the evidence that would be required in an audit and consequently no opinion is &Ven as to whether the accounts present a'true and fair view, and the report is limited to those matters Sel out in the 5taiement below. Independent examlnerfs statement I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do notaccord with those records: or the accounts do not comply with the applicable requirements conccrning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair view, which is not a matter considered as part of an independent examinatio I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding ofthe accounts to be reached.
The Peter Stebbings Memorfial Cbarfity Independent examiner's report to the Trnstees (continued) FOT theyeaT ended 31 March 2025 Signed.. Natne: Michael Strorlg FCA CTA Member of the Institute of Chartered Accountants in England and Wales Address.. Saffery LLP St Catherine's Court Berkeley Place Bri.stol BS81BQ Date.. 2610112026
The Peter Stebbings Memorfial Cbarfity Statement of financial activity FOT theyeaT ended 31 March 2025 Unrestricted Endowment Funds Funds Total 2025 Total 2024 Note Income.. Investment income 101.840 101.840 102,134 Total incoming resources 101,840 101,840 102,134 Expendlture: Raising funds (46.254) (46.2541 (45.2601 Charltable activities (504,224) (S04,2241 {523,4871 Total expendlture (504,224) 146.254) (550,4781 {568,7471 Net outgolng resources for the year [402.384) 146.254) (448.6381 {466,6131 Other recognlsed galns and losses: Gainsllosses on investments (163,2461 (163,2461 780,115 Gross transfers berween funds 402,384 402.384 Net movementln funds [611,8841 (611,8841 313,502 Balances brought forward at l April 2024 7,694,S07 7,694,507 7,381,005 Balances carried forward at 31 March 2025 7,082,623 7,082,623 7,694,507 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuinEactivitie& The notes on pages I I to 20 form part ofthe5e financial statements.
The Peter Stebbings Memorfial Cbarfity Balance sheet Asat31 MaTch 2025 2025 2024 Note Fixed assets Investments 7.135.019 7.812.825 Current assets Debtors Cash at bank 3,889 153,153 1,130 85,17S 157.042 86,305 Current Ilabllltle5 Creditors due within one year 181.118 194.623 Net current assetsl(Ilabllltles) 24,076 108,318 Total assets less current Ilabllltles 7,110.943 7.704.507 Credltors due after more than one year 9 28.320 10,000 7.082.623 7,694,507 Funds of the charlty Endowment Funds- general 7,082.623 7,694,507 The balance sheet has been approved on behalfof the Trustees on and signed on behalfof the Trustees by Nicholas Frank Cosin Chair of Trustees io
The Peter Stebbings Memorial Charity Notes to the financial statements FOT theyeaT ended 31 March 2025 Accounting polldes 1.1 Basis of PTeparatlon The linancial sratements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their financial statements in accordatlce with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} applicable frorn I january 2019 and the Financial Reporting Standard applicable in the United Kingdorn and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from I january 2019. The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts have been rounded to the nearest £1. The Charlty constltutes a publlc benefit entity as defined under FRS 102. The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value (their market value). 1.2 Investment Income Investment income is accounted for on Its receipi and is shown net of any tax deduction. 1.3 Expendlture and Irrecoverable VAT Donations made are accounted for 35 per 1.6 below. Other expenditure is recognised when incurred. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 1.4 Listed investments Investments in quoted shares. traded bonds and similar investments are measured initially at cost and subsequently at fair value (their market value). The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year. l.S Taxatlon The Tru.st is a registered Charity and is not liable to United Kingdom income tax or corporation tax on charitable activitie& 1.6 Grants payable Any donations pledged butyet to be paid have been included in the financial statements as creditors and carried forward accordingly. 1.7 Financial instruments The Charity ha5 applied the provisions ofsecbon I I 'Basic Financial Instruments, atld Section 12 'Other Financial Instruments 15sue5' of FRS 102 to all of its finatlcial in5trurnents. Other than where specifically stated all of the Chari5 financial instruments are classed as basic financial instruments. li
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Accounting pollcies (contlnued) 1.7 Financial instruments (continued) Financial assets are recognised in the Charity's statement oifinancial position when the Charity bL)comes party ro rhe contracrual provisions of the instrumenL Financial assets are classified into Specified categories. The classification depends on the nature and purpose of the financial assets and is deterniined at the time of recognition. Basicfinoncial ossets Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest meihod. unless the arrangement constirutes a financing transaction, where rhe transacrion is measured ai the present value of the future receipts discounted at a market rate of interesL Other financial assets classified as fair Value through the statement of financial activities are measured at fair value. Basscfinancial litsbilities Basic firlancial liabilities arc Intdally recognSsed at transactlon prfce. unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market ra of inieresL Other financial liabilities classified a5 fair value through the statement of financial activities are measured at fair value. 1.8 Fund accountlng Unresrrfcted funds are those which are available for use at the discretion ofthe Trustees Sn furtherance of the general objects of the charitable settlement and which have not been designated lor specific objects. 1.9 Golng concern basls of accountfing The finan¢ial statements have been prepared on the assumptSon that the Charity is able to continue as a going concern. which the trustees cotL5ider appropriate having regard to the current level of unrestricted re5erYe5. There are no material uncertainties about the Charity's ability to continue as a going concern. The Trustees acknowledge the economic uncertainty due to the cost of living crisis and factors such as the war in Ukraine and will continue to monitor its impact uFM)n the Charity. Investment income 2025 Z024 Income from listed investments Interest receivable Excess reportable income 87,144 11,708 2,988 86,968 13,579 1,587 101.840 102,134 12
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Raising funds 2025 2024 Investment managernent fees 46,254 45,260 46,254 45,260 Charitable aitivities 2025 2024 IT expenses Bank charges Accountancy fees Accountancy fee5- [over)lunderprovision Administration fee5 Trustee fees Audit fee Independent Examination fee 5,051 162 17,808 14.0801 7,620 92 4,893 105 16,800 7.274 9,940 9.660 3.000 29,653 48,672 Grants payable (see note 5) 474,571 474,815 504,224 523,487 Grants 2025 2024 Ability Bow Ace Africa Action Through Enterprise African Advenlures Foundation Afrikids Age UK Westminster Amos Trust Baobab Centre for Young Survivors in Exile Beyond Boats Not Bars Bliss Camden Physiotherapy Unit Caris Families Changing Faces Child Brain Injury Unit child.org International Clarernotlt Projert Clement lame5 Coachbright Charitable Trust 5,000 10,000 4,650 10,000 8,415 10,000 7.500 5,000 5,000 5,000 5,000 5,000 7.500 5.000 5,000 5,000 1,240 6,140 5,000 10,000 4.000 13
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Grants (continued) 2025 2024 Comfort Cases UK Comtnunity Drug and Alcohol Recovery Services Deki Disability Africa Eco Brix Educaid Sierra Leone Ella's Home ERIC EVL) Appeal EvergrL'en Afrlca Feed the Hungry UK Five Talents UK Ltd Free to be kids Foodcycle Friends of Kipkelion Future Frontiers Glass Door Homeless Charlty Global Generation Groundwater Relief Hackney Doorway5 Hackney Playbus Hamlin Fistula UK Hands around ihe world Hands on London Haven House Children's Hospice Home-start Camden and Islington Home-start lambeth Home-start Westminster Hope at Home Hope Health Action HOPE Internatiotlal Developtnent Agenry UK Howard League for Penal Reform Imperial Health Charity Inter Care Interact Stroke Support Irise International It's your life Key4Life Kid5 Alive Internatiorlal Kids Club Kampala Kids Matter Kimbuta Rural Development 5,000 5,000 6.000 3.211 7.000 4,000 i 0,000 5,000 5,000 5,000 5.000 6.250 10,000 5,000 8,000 2,500 5,000 5,000 5,000 5.000 5,000 Is,000 5,000 5.000 5.000 5.000 10,000 10,000 s,000 5,000 7.500 5,000 10.000 10,000 5,000 3,000 4,000 5.000 10,000 5,000 5,000 5,000 8,000 14
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Grants (continued) 2025 2024 LEGS Little Village HQ Livingstone Taniania Trusr Learn English at Hotne Legacy ofwar Foundation Maa Shanti Makhad Trust Mammakind Margaret Pyke Foundation Martin-In-The.Fields Medair UK Medecins San5 Frontieres Medical Aid Films Ltd Mentoring Plus MINDin Harrow Mousetrap Theatre New Art Srudio New Ways Noah Enterprise North Paddington Food Bank Nor Beyond Redempiion On Call Africa Only Connect Pembroke College Settlement Power 2 Prison Fellowship Prisoners Abroad Project Harar Pump Aid Richard House Trust Roundabout Drama Therapy Royal H05Pital for Neuro-disability Sal's Shoes SALVE International Sarcotna UK School Food Matters Separated Child Foundation Share Cotnmunity Shepherd's Star shift.ms SS John and Elizabeth Charity 5,000 15,000 5.000 5.000 5.000 5.000 3,000 5,000 5,000 5,000 10,000 10,000 15,000 5,000 6,000 i 0,000 5,000 5.000 5,000 15,000 5,000 5,000 10,000 5.000 15.000 10,000 10,000 9,900 5,000 10,000 10,ODO 5.000 5.444 i 0,000 5,000 5,000 10,000 5,000 3,000 17.000 5.000 3.063 4,728 5,000 15
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Grants (continued) 2025 2024 Stamtna St Cuthbert'5 Centre St Mary le Bow Young Homeles5 Charity Step by Step London Stuart Low Trust Switchback Sydenham Garden Tall Ships Youth Trust Ternwa UK The Camden Psychotherapy Unit The Hummingbird Iniliative The Nehemiah Projert The Salmon Youth Centre The Virtual Doctors Tiyeni To Live in HOPE Toucan Employment Tower Hamlets law Trailblazers Mentoring Transform Burkina Transgenerational Change Treasures Foundation UEA- Child Bone Cancer Study Unseen Village Water Vita New Hope Ltd Water Witness International Young atld Inspired 5,000 9,900 7.000 7.000 19.980 5.000 Is,000 3,000 15,000 7.500 2.500 5.000 5,000 15,000 5,000 9,500 5.000 5.000 5,000 3,000 10,000 4,000 25,965 5.000 10,000 10,000 Is,000 5,000 474,S71 480,815 Grants repald DEC Earthquake Appeal 6,000 474,571 474,815 16
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Investments 2025 2024 Quoted investments Market value l April 2024 Additions Disposals Unrealised gain/(105sJ on revaluation Reali5ed gain Net movement in cash held for investment 7.812,825 6.950.619 16.827.948) {1.203,8931 1.040.647 637,231 7.585,947 1.000,331 [2.073,597) 776,827 3,288 520,029 Market value 31 March 2025 7.135,019 7.812,825 The investments can be summarised as follows: Investment assets in the UK Investment assets outside the UK 134,940 6,856,967 5.255,373 1,777,109 6,991,907 143,112 7.032,482 780,343 Cash held for Invesrment 7.135,019 7,812,825 At 31 March the following investments accounted for more than 5% of the overall portfolio excluding cash.. 2025 59.1% 5,1% 8.3% ZOZ4 66.0% 8.0% 0.0% Schroder Global Sustalnable Growrh Sparinve5t Ethical Global UBS IIRLI ETF PIC S&P 500 Galns/(losses) on Investments 2025 2024 Revaluation of investments Gain on sale of itlvestments {1.203.893} 1.040.647 776,827 3,288 163,246 780,115 Debtors 2025 Z024 Amounts falling due within one year- Lord and lady Lurgan Trust Mason te Page Charitable Trust IT expenses prepaid 3,848 41 680 41 409 3,889 1.130 17
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 Creditors 2025 2024 Amounts falling due within one year: Grants payable Audit fees Independent Examination fees Accountancy fees Administration fees 160,310 148,000 13,656 3,000 17,808 32,792 175 181.118 194,623 Amounts lalllng due after more than one year. Grants payable 28.320 10,000 28,320 10,000 10 Trustee remuneratlon No trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related charity. No trustee expenses were incurred in the currentyear, or in the prior year. 11 Employees There were no employees during theyear. 12 Financial Instruments The carrying amounts of the charity's financial instruments are as follows.. 2025 2024 Financial Assets Measured atfair value thmugh net income.- Listed Investments Debt instruments measured utamortised cosL- Cash 7,135,019 7,812,825 153,153 85.175 7,288,172 7,898,000 18
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 12 Financial Instruments (contlnued) Financial Liabilities Measured at amortised cost. Creditors 181,118 194,623 181,118 194,623 13 Movement in Funds Unrestricted Endowment Fund Fund 2025 2025 Total 2025 Total 2024 Balance at l April 2024 Incoming resources Resource5 expended Other recognised gains and losses Transfer berween funds 7.694.507 7.694,507 101,840 (550,478) 1163,246) 7.381,005 102,134 (568,747) 780,115 101,840 1504,224) 146,2541 1163,2461 402,384 402,384 Balance at 3 1 March 2025 7,082,623 7,082,623 7,694,S07 14 Prlor year movement In Funds Unrestrlcted Endowment Fund Fund 2024 2024 Total 2024 Total 2023 Balance at l April 2023 Incoming resources Resources expended Other recognised gains and losses Transfer between funds 7,381.005 7.381,005 102.134 1568,747) 780,115 8.104,999 73,236 1627,2281 (170,002) 102.134 1523,487) 145,2601 780,IIS 421,353 421.353 Balance at 31 March 2024 7,694,507 7,694,507 7,381,005 IS Analysis of net assets between funds Unrestricted Endowment Fund Fund 202S 202S Total Z025 Fund balatLce5 at 31 March 2025 are represented by: Investments Net current assets/(liabilitie5) Long terni liabilities 7.135,019 [24,076) 28,320 7.135,019 [24,076) 28,320 7,082.623 7,082,623 19
The Peter Stebbings Memorial Charity Notes to the financial statements (continued) FOT theyeaT ended 31 March 2025 16 Prior year analysis of net assets between funds Unrestrirted Endowment Fund Fund Total 2024 Fund balances at 31 March 2024 are represented by- Investments Net current assets/(liabilities) Long tertn liabilities 7.812.825 [108,318) 10.000 7.812,825 (108,318) 10,000 7,694,507 7,694,S07 17 Prlor year statement of flnanclal artlvldes Unrestricted Endowment tunds funds Total ZOZ4 Income from: InvL'stmL'nts 102.134 102,134 Expendlture on: Raising funds Charitable activities {4S,2601 145,260) 523,487 523,487 Total resources expended 523.487 45,260 568,747 Net {lossesl/gains on investments 780.115 780,115 Net (outgolng)/lneomlng resourees before transfer (421,353) 734,855 313,502 Gross transfer between funds 421,353 421,353 Net movement In funds 313.502 313,502 Fund balances at l April 2023 7,381,005 7,381,005 Fund balances at31 March 2024 7,694,507 7,694,507 18 Related partles There were no related party transactions during theyear. 20
Audit Log ty Legalesl Document Peter Stebbings Memorial Charity- Financial statements for the year ended 31 March 2025 . Updated 4125-2163-8244 v.4 bb0441e4_f530_IlfO_9f8e-06e476a07569 Legalesign ID status Signed Lucy Flook 1lucy.flook@saffery.coml Saffery LLP Saffery LLP True Sender Organisaiion DoptlBusiness PDF Certilied Reclplents Name Email Role Authentication Sign time Nichola5 Cosin nickcosiD@talk21.com Signer Email Mon. 19 Jan 2026 14..21..23 +0000 Michael Strong michael.strong@saffery.com Signer Email Mon, 26 Jan 2026 12..24..09 *0000 IJ Log Event Email IP Address Dateifime Docum&nt 'Peter Stebbings Memorial Charity- Finantial statements for the yÈar ended 31 March 2025 - Updated 4125-2163-8244 v.4 created Mon, 19 Jan 2026 12'.16-.49 luty.flk@SalfÉ[y.COM +OOOO Non, 19 Jan 2026 12..16'.55 Email sent to nickcosin@talk21.com nickcosin@talk21.com +OOOO ni¢kcosin@talk21.¢om opened email for document Peter Stebbings Memorial Charity- Financial statements for the year ended 31 March 2025 Updated 4125-2163-8244 v.4 Mon, 19 Jan 2026 12..33=36 nickcosin@talk21.com +OOOO Peter Stebbings Memorial Charity- Financial statements for the year ended 31 March 2025 Updated 4125-2163-8244 v.4 visited by Nicholas Cosin nickc051n@talk21.corn Non, 19 Jan 2026 13..52-.40 nickcosin@talk21.com 82.9.52.62 +OOOO Browser geo-location provided.. Lat 51.49432696491108, Long Non, 19 Jan 2026 13..53..04 nickcosin@talk21.com 82.9.52.62 +OOOO -0.11229022878554876 Ticked checkbox for statement.. I confirm that l am Mon, 19 Jan 2026 13..53=38 nickcosin@talk21.com 82.9.52.62 authorised to accept the terms of this document. +OOOO Log gener8ted.. Mon. 2618n 20 12".24..09 +IK P8gelof2
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