TRUSTEE5' REPORT FOR THE YEAR ENDED 28 Fabruary 2025 and admIniStrati￿ informthn sd ￿t on Page l. STrUCTURE GOVERNANa AND MA14AGEMEKr The TnL5t was estsI￿thed ty Trust DeeAI ￿ 20 Fdxwy 1978 kn the latr Bthm Under thls Tn& Deed the to apmlntTn6tes rf te at least th￿, Is In the Trusteos for tr£ bdry. Up to 2014 al the Tnth hm kno￿ the fwnder perwnaty, vthkh has te￿ a pknnul thant&Je to the as have rn easmy able to re5r￿ at tlmes In the kjw HB done: as Iln* goes fy thbs Ilnk3Je t￿tI•￿en Trustees and Jndw WIM ￿ mre dfflloJft to rn1ft￿n. The t¥e•Jth cl 1Xiv￿ the Tru&ee5 over the u, The wKe*es ty whlch the Trust Is adthl*¥&l aTrJ ￿n￿ and Obj9￿ Lrf the fvnd are met are set (xrt In a Manwmt Prctccol dI￿rr*lL Th15 aLw W fflaln￿n the Imp)rtant Ilnks wlnerable benelldorles, atyl cwlalnts handlkng; al of whth we re￿e￿￿ annually as part of the at {Th)nrdty quartatr). n*elry held dU￿r￿j thls svr. and the Truths e pleas•J to see the lthrl rl grnnt xV¥lty rem•n at è see 7 behy*4). The alms of the Trust *e, prlmarfty but nc* eld￿, to rx finandal dsthitage or Ortury￿￿. Area. to £17,560 as In Note 7.2 (2024: £26395). TNS o)mtsJ 12 grants as d*il8J In 7.1 (2024: 19 grnnts). nc* fft Into the atrxm al￿￿. these a￿ re￿ to theTn&ees aNI nurr*ErnJ 5 (2024: 5); in èjdltkn ts Tnsstees 10 (2024: 27). HERVEY BENHAM (>IARrrABLE TRusr TRUSTEES RE14)RT. contin￿1 FOR THE YEAR ENDED 28 February Xi25 FINANCZAL REVIEW The attad￿j finand* statemrt (Pages 5 to 12) the Tru*s for the at¥J exlst to coNv all grant ccfflmiti7Mt& 11.1 The as *t CArt at Tr4Ae 3.1. ha5 ￿ gKregdulty Th1stee5 durfng thls year, an the Conymn Inbvtrrth Furnl p￿￿uCts of 3.24% (2024: 3.109% The overall income ytekl on InbtstTh*nts. Ind￿￿[r￿j the dekh)slts part of the pyifotlo, has Improv& ue to Increased dl¥hdeNI payrrffits, a￿1 the hb3hw of lrtwest 1P￿rn$ and at 3.41% (2024: 3.10%). 11.2 No changes were made kn the ofthe thts ydjr. The flnal dlrtrfbutkn i)n the ckJs8J IFSL CIF UK Eqijty B Irthne fvnd was rth￿l. Cash deitsts conunueil on a ￿rn11ar bBsI& 11.3 Cmr the the valuakn rf the CLYnrkxfi prc¥￿￿ to rlsk Is r*1￿￿1 ￿ the tharlty g)&Sfic cor1￿￿ lnveth￿nt us8J thdr awrert &YatoJy to W arvoxlmately 20% of the totsl Tfusvs Investm￿ In cath. That balan￿ strnts * 13.3% at a)d ofthls year12024: 13.7%), exdudng the Instant acre5s cash hebd as current awl INDEPENDENT EXAMThATIOM 12. The trustees &3reaJ to Con￿nUe *lth an lThJeptyb￿ bjt %*yJld ke4) thLs uThJer rvAew. 13.1 law requlres the Trv*es to prepare fina￿1* 5l3tw￿ts for fnaTKlal whlth ghe a tn￿ and falr vtew of the 51Ats cé affatrs of tte for that pr. En Fvepadng thtsse flnandal SLatu￿ts the Trustees are ￿uIr&I to:. * sd* ￿j￿able ￿COuntIng Oioes and thÉm tkn a55ume that the Chrity WHI mntlnue In bwlness. 13.2 The T￿￿ arn resp￿{* fc¢ keeplng prw ¥cwnllryJ reLTMls dlgJ)se vAih rea￿￿alle accuw at any Ome the ￿ltIOn cl the ChMIty and than to ensure that the flnandal statern￿ comtly vlth the Qorlties kt 2011. are akn 1¥N￿&ble for ￿f￿juardin9 tt a55ets of the arnl for tskjng reayni4e stqffj the and dthtion dfraud or other IrrgJulaTibe& iamng thdr gmt rna￿ng aCtmU￿ In of the of the Tru on bthalf of the Tr￿ M R Carr (Cthaiman) HERVEY BENHAM CIIARITABLE TRUST REGISTERED CHARllY NO: 277578 ANNUAL REPORT FOR THE YEAR ENDED 28 February 2025 Inde￿d￿t ￿￿￿￿1r￿S retxxt StateM￿t of flnanoal Balan￿ she Ststhert of t2sh tlows 8-12 HERVEY BENHAM CHARITABLE TRUST HERVEY BENHAM CHARrrABLE TRusr REFERENCE AND ADMINISTrATIVE INFORMAT£ON AS AT 28 Febnthry 2025 REGISTERED CHARTfY NO: 277578 M R Carr LLB TMAK8r A B Phillips BEM BA Ctr&d N Johnston SCLan* P GLryver (thamian) TKUSIEES HOLDING TrrLE TO THE PROPERTY OWNED BY THE CHARrrY: MRCwrLLB A B Ph]111￿ BEM ￿ CelEd TMAKaT CLERK TO THE TRUSTEES: REGISTERED ADDRESS: CIO 13 H￿h 9 Manningtree Essex Coil WEBsrrE: BANKERS.. The Royal Lrf &otkynd pk rjo Natwest Bank 25 Hlgh Street COLCHESfER (DI IDG CAF Bank Umrted gs HIH WE5f MAUING Kent ME19 4TA INDEPENDENT EXAMINEL. 4&STheCak￿,WI2 Ar￿X 12 Old IF6Wtth Rc E5￿ C07 MR SOLICITORS: **rtirrfJs COLCHEsfER Esw COI IHQ HERVEY BENHAM CMARrrABLE TRusr TRusfEES' REPORT FOR THE YEAR ENDED 28 2025 The Tnts txesent thelr Re￿rt ts the ￿r end￿ 28 February 2025, the refemce and admlni9tradve infcvnadon ￿t Oltt on Page l. sTrucruRE GOVERNANCE AND MAfiAGEMENT TheTrust was thblid￿j by Tnbt ￿ on 20 Fdxwy 1978 Wh￿ the *e HeNey Benham decld to cleats # twst for charttable purp¥￿￿. Under thEs Trust Deed the tThver to ar¢wJintTh&ees. crf Ythith thue mu* be & least Is vested In theTrustee5 for the time belng. Up tr* 2014 all theTntstees have known the foutxlEr perSOn￿lY, whbj) has been a ￿ann￿ adYanta4eto the Tru* a5 they have rrK>re easily been aile to at In the way tlw knew HB would l¥we do￿. as t'me by thls linkage betw￿ Trustees and toundw VAII be nK>re dlfflcult to malnfaln. The br￿ of knovl* the Tru5tee5 over the Tn￿t'S areas of ad3wW akn ne& tD k maintstnal. L￿￿ng the yair urjder wew the Trnsteeg prece￿ by the TnLgt and hjw the a5rrs and obiectNes of the fvrtd are met are Set out In a Management Prrjtrth d(K)J￿ ThL8 al9) hdps m3lntaln the Important Ilnks for the Twstw wth the Intwest and 9mpathy rf the foundar. The Mana9mnt Protoccl ckcunwt Is now suptK)rtol by separte finat¥ial (rffltro15 ￿￿1 a p(Ahj￿ txument C￿ng 5Lth area5 ay. rEk management, Investrnents, slaff. volurteer rn3nagen￿L confiitts of Intere> thJuardlno vuinernbte ￿￿1￿sayIeS, ond ￿)￿[￿￿7[rt5 han(lling; all of which are revle•wd annualty as of the Trustees, g0Veman￿ Lryde. )￿catIonS for 9rnnts are Lry the (kkto tt￿ Tru8tets, ètKI by the Trustees * t1￿{r rr￿etIngS (nOrn￿ty quart￿1¥). FtyJr n￿etIr￿S were hdd thls year, and theTnJstees are pleased to see the le￿ of grant thlty r￿naIn at a g￿￿ (al¥) see paragwh 7 bthv). OBJEcfivES AND AcrivrnES The *ms of the Trust are, wrnarity INJt nLt ￿LL￿. to sJprxJrt. l Artlsttc aThd al[￿rnI acbVbtt* whKh the peoFle of Cokhests the Benefidal kn. 2 IndlvkluaL% Yltth p)t￿tta[ artl#ic ialen¢ ￿$S the art[ty￿, vtho a￿ hekl back by physlol or finanoal dwthantage or petsJnal drcun*rKw. 3 The pr&ervation of the Industiial hme (sf OJk** and the Penefidal Area twher wtth the maritlme tr￿1b(l[l5 Df the Esw arHI Suffolk o)asL 4 The pregervatkni of the hlskny of and the Benefthl Area. 5 Preservauon and ￿hanc￿[￿t of the hwtkge and ￿VIn)nM￿t of 0￿CheSt￿ and the Beneficlal Area. The* lool intrrests are supportoj try grants and loans from the lrtome Fund. ACHIEVEMENfs AND PERFORMANCE The totsl (nntrlbudon to the Trusys aim5 authori￿ kn the to 28th February 202$ amountsj to £17,560 as summariwj In Note 7.2 (2024: £26.3951. This 12 grdnts as (thiled in Note 7.112024: 19 grnnts). Many applkaljons from OUt￿le the arts of theTrusL or for pur￿ vthrh (k) not fit into the aLMJve alms; the￿ are retK)rted to the TnjS￿ ar￿ numikrttl 5 (2024.. 5); In addfftlM the Trustees d8jIn￿ 10 a￿A1(atIonS male In the year (2024: 21. HERVEY BENHAM CHARrrABLE TRusr TRUSTEES. REPORT- continued KIR ThE YEAR ENDED 28 February 2025 FINANCIAL REVIEW The attathed flnandal sktWr￿nts (Pdga5 5 to 121 Ye￿t the Tru*s actyvit￿ fv the and show the wrrent state of the finances, W￿th theT￿￿ ujnsider to te sound. Cath regour exist to cover all grant ctiryllni￿. 10. Tr Trust malnts1t￿I1¥ oplial In *)th ts {￿k￿ grants of ts Investment Income. 11.1 The Invostsmrt pollry as set out at Note 3.1, ha8 ￿Ccessfulty imtthEnental by the Tnistees durtng this year, wlth an In(￿* ylehj on the ComnY)n IllveStn￿t Fund produts of 3.24% (2024: 3,1 Thè Ov￿all incorne yldd ￿ In*stnwbts. indudlNJ the L3th deposts part ofthe wrtfollo, ha5 Impraved due trj Inrnsed divtdend the hhjkr lev* of lfiterest re￿rn5 and tame L¥Jt * 3.41% (2024: 3.10%). 11.2 No thanges were made to the Inv￿￿rEnt part ofthe FC*tfoHo thts sEar. The flnal di5tifbulJon on the dowj IFSL CAF UK Equlty 8 In0￿rE thnd r￿*v￿1. C¥h depJsiTs LDntlnued on a s1ftI18r b IIJ fftr the year the overall Vall￿on(￿ the ConuTr￿ Irhtsbmt ￿j￿1 mlLscts Intteased by 8.16%. 12024., no that￿}, ats taknng ￿0)Unt of Investi￿ d09Jre. 11.4 The Twstees continue to be s*191o4 thai thw eywJTr to dsk Is reduced by the chaiity specific common Invesbnent prc¥lucts used ond their Ipjid at@￿￿MatdY 2Q% of the tL)tsI Tnjsvs Investm￿ In cash. That balan￿ stands at 13.3% * the eTrd of thls year C2024: 13,7%), exrjuding the Inslant acress tath hekl as os*ts INDEPENDENT EXAMXNATION 11 The trusW ag￿d to wAth ar7 Endepahknt thm1Datt￿ t￿ty￿Id keep th1$ under rev*w. STATEMENTS OP TRusfES RESPONSIBILfnE5 13.1 law requlres the TnJstee5 to prepa￿ finaTrial 51atements fvr tknanclal ye8r whKh glve è true pnd falr wew of the slate of afPdlrs of tt* a￿1[ty fc* that ￿. In those financial skteTr*nts, the TNst&5 atE requir￿1 to',- * selett sultable *rOun¥￿ p)Ibes and then appwthem coThgSteDdyj ' makejudgements and estlmètes that are rEa5Thbk and prudent; ' prepgre the flnancial on the g(MNJ coneem b3sfs unless It & Inèpwriate to asqjme that the Charfty will o)ntlnue In 13.2 The Tn&ees are re5ronsiile fur k¥Ang prcw K(twnttllg rth5 disd￿ ¥￿th reasonaNe acc￿rd(y atany ttme the ￿an(la1 FKtslUon of the C*arity and ￿able them to ensure that the finan¢lal $tafrm￿ts CoM￿Y wrth the Chartties Att 2011. are r￿s￿b￿ for safeguardlng the assets ofthe tha￿ty and hen￿ for tsknng reasc*th *o)s for the p￿ention and detsSi¢n of ftsud or other Irreguklrl 13.3 TriJstee5 have had regaNI to the Charw ￿eral gUIdan￿ on wbllc trEnellt when re}rie￿ng thdf gFBnt malang activ>tt& In wrsuance of the #lmg of the TrLsL on behalf of the Trustee5 R Carr ((hirrYkgn) 14 Mry L25 HERVEY BENHAM CHARrrA3LETrUST INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES I re[￿an the a￿nts of the charfty f￿ the year 28 FeJ)ruary 2025 whlch are set out on pages 5 to 12. Responslbllltlary and basls (* rewt As the chartys trus1*5 Y￿ are ￿ponSIble fff tr* of the In accordants wth th6 ulrements of the Chariues Att 2011 (Ihe W. I reFOrt In tyect of my evan￿natIOn of the tharivs 12rrfed (yJt under sedon 145 of the Att and In carying out rny e(aM1naty￿ I followd all the awltcale D￿￿￿0￿$ g1￿ by the thaiity Cc*nmissM)n undw settion 145(5Xb) of thé fndepolldort examlnerfs state4n•rt I have comple￿1 my examInall￿. I C￿mi that no mknial matth have come to my attentlw In o)nnecbon with the examlNBtson gI￿ng me caw to tdieve that in eny matsifjl rW: l. accounttng recor(15 w￿e rKt kq)i In lthe thty as r84ulr&l by Sect1￿ 130 (A the Act, or 2. the acrx)unts do nrt acawd th050 records. 3. the xcounts th not compty with the appI￿able r￿￿1r￿WrS concernlng the fom and content of arrnunts set txrt in Ihe Charttl&% (kn￿nts arvj RepNts) Regulatlons 2008 other than ary requirern￿t that the &counts give a Inje and fdir vle*l whith i5 T¥)t a mats a￿5{dered as i>art of an Indep&￿t examlnation . I have no conceTr5 and have (Dme ￿ rK) Lts matta5 in with the exdmlnattw to thlth attentlon should be drawn In this wort In to a pr(w urKl*strdThllro of the wmjnts to be D M Aldwth FCCA FMAAT 4&5 The Cedars Aw12 Old Irswlch Road C4)Ichester C07 7QR Dated....1g AA 2025 HERVEY BENHAM CHARrrABLE TRUST STATEMENT OF FINANCIAL Acfiv]TIES YEAR ENDED 28 FebNary 2025 Total Funts Capllal fund$ 1024 Investrn￿ts Chartsble actMtle5 Book Inwme ￿ePAj Grants ￿thdrawn Total Income 33 53,288 53,288 73 IZ,OOD 58,663 53,291 53,291 Expendlture on: (Jbarftable athvltles Grants authorlsed In year manag￿nent of prcwty asset Support r Totsl expend1￿1¢ 17,560 175fJ) 26J95 9,385 27,429 9,632 36,027 27,429 Net gains1(10￿} ￿ investmts 32 116,268 116,268 Net In0)n￿/(eXp￿dItUre} 25,&fj2 116,268 142,130 23,239 25￿2 116,268 142,13D 11,239 Recondllatson of funds: Total funds broLHJht foward 36,992 1,663,631 1,700,623 1,6nJ84 Total carried fowdrd 62,854 £ 1,842 753 £ 1,700, Contlnuing orEraUons - all Ir¥J)mlng rwurrAS and r￿ljrCts exwjded derive from (ThYnuEng actiwtles. Totsl recogni￿ g&lns aTrJ1055e5- the SOFA irKkhkn all gains and lo￿$ rwnlsed in these tsvo yoar The on pages 8 to 12 fomi wt of th&se financial statama HERVEY BENHAM CHARITABLE TRUST BALANCE SHEET AS AT 28 Fel)n￿ry 2025 TOTAL Funds 2Q25 Funds 2Q24 FIXED ASSEfs TarKJlble assets . freehold ¥ry) Investrnents Programme-rel*ed Inv*nwts 2￿,C￿) 1,545,849 200,000 I￿45,849 254 1,746,103 200,000 1,436,561 254 1636,815 1,745,849 CURRENT ASSErs ndry ckbtors Cash at Bank 15,260 52,379 67,639 15,260 86,429 101,689 10,136 71,497 81A33 34,050 CURREKf UAWLMES Sundry cxeAlltors NEf CURREIIT AS5EtSI(UABILmts) 5,039 5,039 17,825 62,FJJO 62,854 1,779,899 1142,753 1,700,623 DEPERRED UABXLrriES due after m￿E than one ￿r TOTAL NET ASSETS £ 62,854 £ 1779,899 £ 1,842,753 £ 1,700 623 THE FUNDS OF THE CHARrtY Unr&ricted Income funds £ 1,842,753 £ 1700,623 Approwj by the Ttustees on ...... . . and sigrth on thelr bthalf by M R Carr The Th)tes ui pages 8 to 12 form part of finandal stat8￿￿ts HERVEY BENHAM CHARrrABLE TRusr srATEMENT OF CASH FLOWS YEAR ENDED 28 February 2025 2025 24 N& cAsh (usai in) 0￿￿ng activtiies (45,336) (30,3561 Cash flows from Invwfjng a¢tMtles: Invesln)ent Income Pro(2eds Dn dosure of lnv&8ts￿t CAsh r4nVeSt￿ In new Investm￿t Decreasel(iniTease) In (ash I[r￿t 53,288 15,081 46,663 269,575 (270,0001 415 (8,101 £46, Change ITr osh and cash qul¥al•ts In the r¢wUng wiod 14,932 16J27 Reo)ndllatlon of cash and ash equSYdlents: Totsl broughtforward 96,497 80.170 Tokl tsrrled f￿ard £111,429 E96,49Y NOTES Net cash provlded by (used in) opvatlng adivlties Net IncorrEI(eyndlturE) for ts r￿r￿ng (Page 5) Adjustments for., Investment Incon (InaEa5¢) /d￿rease In Investments (unrEalkad) (Jn(rease) Id9Jea￿ In IT￿lm￿ {￿Ls￿l} (In(xea5e)IdeLrease in debtors Increasel(de(rease) In (TO 142,130 23,239 (53,288) (103,539) (12,729) (5,124) 12 786) 45 336) (46,6&81 (18,3 17,n5 5,399 11,728 q30,3561 Analysis of cash and cash equ"Nalents Bank bala1￿.. RBS CAF PaT& Noti￿ depjslts (less than 3 nN)nJ￿). 42,996 43,433 32,632 25,000 £111,429 £96,497 HERVEY BENHAM CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMErirs YEAR ENDED 28 February 2025 ACCOUNIING POLICIES The financial statefflents have been prepar&1 on the histon"c cost tonvention, and in accordan￿ with FRS 102 Yhe ￿nandal Reportlng Standard applic3ble in the UK and the RepublK of Ireland., anLI the statern￿t of Recommended p￿ctI￿.. Accounting and RekY)rting by Chartties'charities SORP 2019 (FRS 102)., and the Charities Att 2011. The Hervey Benham Charits￿e meets the definftion of a publlc benefit en￿ty under FRS 102. The Pa￿cUlar accounting wliaes adopted are as follows: (a) Funds structure Where donors imkw a restslctlon on their donation may be evd￿l - such expe￿lture being within the objetts Df the tharity - their donations are iyedited to a separate Restrirted Fund. All other income is uedlted to Unresbictsd Funds to tE expended at the Trust￿, dis(Tetlon. {b) Incomlng resour AJI incoming resources are reCOgn￿ed On￿ the tharity ha5 entitlement to the resources and the monetary value of incoming resour￿ can tE measured with ￿ffident rdiabllity. (cl liesources expended Liabilitles are recognised as rewrces expended as scx)n as there is a legal or constructive Dbligation commitbng ts charity to the expendtiure. ￿1 expenditure is accounted for on an accnjals basls and has ￿en cla59fied heading5 that aggregate all costs relatsj to that category. Grants payable are payments mack to third parties in the fvtherance of the charitable objertives of the charlty. sing￿ or multi-year grants are accounted for when the redpient has a reasonat￿e expectation that that tr)ey wlll recetve a grdnL Govemano ajsts comprise those costs as5wated with meeting the con*bJtional and stabJts)ry rcY]UireM￿ts of the charity, and indude a prowrtion of the aerk's remuneration. (dl Tanglble fjxed a&sets and depreaation In acc(￿dar￿ with FRS 102, fixed asset invesknnent F)roperbes should be stated at market value, th no wovision m￿e for depre(iation. However in the view of the Trustees the cost of obtsining a market value would be onwous compared to the benefit Obtsin￿I. A heritage asset received from the foundevs succesg)r fimi, comprising a (eady tochard Sto￿) portrait of the founder Hervey Benham, 15 not capitalised as, in the view of the Trustees, the cost of valuation would be onercws compared to the LEnefiL This po￿ait is on loan to Theatre Arts ALtion Trust for display at The Pleadgate Theatre in Colchester, which this Trust helped to estsblish and con5￿UenuY th￿r rehearsal r￿M L￿r5 hÉs name. (e) Investments Investments are stated at market value, based on the mid pri￿ at the date of the balan sh&t. ￿1 movements in wal￿ are shown in the Ststement of Financial Activities. (Q Taxation The Trust is a charity within the meaning of Section 506(1} of the Taxes Act 1988. Accordingly the Trust is Wenttally exempt from ts￿￿tiOn in re5F*rt of income or capttal gains to the extent that such income or gains are appli&J to exduthely charitable purp05e5. No taxation has been FThKi￿ for in finanoal 5trdtements. IrrecoveTrble VAT is tharged again& the category of re50urce5 expended for whkh rt was incurred. (gl Going Concern The financial statements have been prepared on a going concern ba&s as the trustee5 believe no tllaterial Un￿rta]ntieS exisL The tJustees have considered the level of funds held and the level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditsjre Is gjfficlent with the level of reseTve5 for the charty to be able to continue as a gobng c￿Cern. HERVEY BENHAM CHAR￿ABLE TRusr NOTES TO THE FINANCIAL sfATEMENTS- conttnued YEAR ENDED 28 F•bruary 2025 2 FREEHOLD PROPERTY During the yearto 28 February 2006 the Trust of enVirOr￿n1￿1 heritage land by legacy from the E5Late af Geoffrey Bor￿, or* the ￿¥jInal threeTrUSt￿ in Febnfjry L978. The lar￿ is rerJ)rded in these accounts at a probate value £2rKl,I￿. There was a covenant the ￿gaL¥ that TrLtstee5 sh￿Id not dispose of the land wthin fwe years t* hls death in 2004; this has rk)w kn.me elaps&l. In his Will, Geofftey ab) left the TrJst a cash ￿gaL¥ of É5.QtX) fo.- the ma.'nteiance Df thi5 lat¥J,. the balance of re5trKted fund wa5 exp￿￿1 In the year to 28 Febry￿ry 2(M)9. The rnanageT￿nt of thi8 set is now a call on the T￿St'S tncorne FU￿ and a￿nt￿l to £484 In the year (2024.. Enill. INVEsfMENTS 3.1 The Investsr￿t Policy agreed ty trp Trusts ￿ to hokl aFvroximatdy 20% of ￿r irw&tment f￿dS In cash a5set% wr(h illvested in charity Common InVestsM￿l FuThJ WlM1ucts. The TtustEes Ir>* for an Income Wekl of 2.5% per annum, whlth is di#ribUt￿ a5 grants. and thereafter seek to at least maintaln the real value ofthe of th￿e nwwre5 have been ath￿￿ year. 3.2 At 28 Febr￿ry 2025 the InvesthRnts vme hdd as rdh)￿..- 2025 20Z4 H15torkal Marf Valuv ackRock Chanles UK Equity Fwd A 127,645 IFSL CAF UK EquTty FuThl B InLVtne IFSL CAF ESG Incomo aThJ (knrth In¢YJrre 270,Q( SLITL Cazenove Charity Equity Fu￿1 A Incr¥ne 175,(KK) CCLA COIF EthKal Inv&sth)ent Fu 220,IMI 42,102 331,965 127,645 299,194 2,3Y2 284,759 282,746 371,398 298,846 333,055 377,770 270,ThJO 175,1)00 220,QOO United Trust Bank I year bond UnSted Trust Eank I year bond CAF 60 Day Account Close Brothers 12 Moith A(xwnt 42,102 40,WO 40,D)O 25,QOQ 91,112 988,757 40,0 40,OC 25,0 91,:12 L,436,56L 25,0 96,307 1,545,849 £ 991,663 £ The rn￿ng amounts of the invastrnpmts are T￿rK]led as fvlkM5: Tolal Investment Funds Deposlts Held BalanTr at 28 Feknjary 2024 Ptoceeth on dosure of Investst Cash reinvested In rth inve5tsnent 14et galr61{losses) on revaluationJb7llsfer5 BalanTr at 28 Fet(uary 202S 1,436,561 (15.081} 1,240,449 115,081) 196,112 1906 5,195 £ 204,213 121,463 £ 1,545,849 116,268 £ 1,341,636 3.3 Investment IncorrE for the year is receNwJ and comprises: 2025 2024 C(Thmon Investm￿* funds Irwestrnent interest 43,441 9,304 52,745 543 53,288 38,428 6,120 Bank inter¢* 2,115 46,663 PROGRAMME-REU4YED INVEsfMEIUS Collethon of Hervey Benham's boots (1115 1th$1 254 254 254 254 SUNDRY DEBTORS Investnent income other debtors 12,365 2,895 15,260 B224 1,912 10,136 CREDThORS- due for paynR4)t wlhln ￿ ye Accrued expenses Grants a￿￿OrISed.. 2,539 3,525 11.800 2,500 17,825 but Th)t yet pakl t¥Jt n￿. yet due {Note 7.4} {Note 7.5) 2,500 5,039 ERVEY BENMAM CNARThABLE TRusr io NOTES TO THE FINANCIAL sfATEMErirs - continued YEAR ENDED 28 February 2025 7 GRANTS 7.1 The grants authorfsed In the year SLWFKYted amtr[t￿ to ttE fol￿wIng pro3&ts thè TnJ5t's four acknvlty areas:" Bengtida (a) Artist1¢ and other a¢tlvltles whlch bend the peoplo ot cold￿Ster and Distsi Websth fees SubxAptlon: of Ctwitsble FwThlatlon5 3209 3,816 2,970 1,141 1,179 Z40 207 7,715 219 8B26 Govornance It4Sts Trustees meetlng and monitortng ujsts Independent Examiner5 r8nunerdtJon 830 436 870 1,306 1,670 £ 9,3B5 9,632 averége rsumber of part-ttme an￿Oy￿ durfTrJ the year was a5 fdlows: 2025 minisb3t*ve No &nployee5 had emplo￿ t￿ft￿ In wpss of £f(1000 (2024: NII). No emoluments are payable to anyTntss and th d]r￿ In￿rred tharftable oynse5 would be rdmbursed (2024., £NII). The totsl emplop IRneffts of Man￿￿t re￿nnel total L3209 (2024: £3,816). HERVEY BENHAM CHARrrABLE TRUST 12 NOTES TO THE FXNANCIAL sfATEMEiifs- ￿ntInUed YEAR ENDED 28 February 2025 2025 2024 9 BOOK INCOME RECEIVED Publlc iRndlrMJ Fughts: HWG Effjham Sak of tr￿ks. 'knfe Wlth The L(L*" Sale of LKJoks {ERO): 'Essex thid. "A ProSF￿t of Mth" "Smuggl￿5 Cenbj J Tlpw: Frnmed Bullthngs L* Cokh* TRusfEES' REPORT. continued FOR THE YEAR ENDED 28 February 2025 The attathed finanaa {Pages 5 to 12) rdl* the Tnrts thties for the ￿7r arKI e¥tst to cover all grant commithEn 11.1 The Inve5knwt pJlty as set Imrt at Tr&)te 3.1, has been ￿Esd￿N¥ the Trustees du￿n9 thls year, Ylth on IncoThE yw C￿ the COrffl￿ Inbe5tnMt FuThl of 3.24% (2024.. 3.1081 The overdll irKome ylekj on InVtstn￿ Ind￿lIng the deFo4ts part of the wrtf(Alo, has Improved due to In(reaseJ dvbJeNI payn￿ts, aThJ tre hty cl Inttrest rdums and on* out * 3.41% (2024: 3.10%). 11.2 No changes nyde to the Ins￿l￿￿nt part afthe thls year. The flnal th*llxrtkn on dosèJ LFSL CAF UK Eqiity B Incorr* fund was f￿￿4￿]. Cash deFQ51ts condnued M a slmnar ba#s 11.3 the year the 0￿1 vabjakn rfthe Ir￿tr￿t FWKI TKryJuLts IrKTea*d ty 8.16%. (2024: no ¢thange). ats accfj￿t rf Irr￿s￿￿tt 11.4 The Trustees 0)n￿n￿e to ￿ sat1511wJ th* thelr e*wre to rfsk is ralucal ￿ the tharlty spothc COmTtM Investm&)t p￿dUCts u*J and thdr ￿rrent Strate￿ to ap[￿matth 20% of the tctsl Trusvs Inve5tmerts In That t￿an￿ stands at 13.3% at the end of thls year (2024: 13.7%), exdudlThJ the In51ant hekl a5 asse1& INDEPENDEiif EXAMINATION 12. The ￿jstees agreed to oMVnue wth ￿ I1￿ e%wnln*km thls mlthv. 13.1 Charfty law r￿uIreS the TNstees to wep3re fina￿￿ StateM￿ts fur finarKJal year whKh glN* a tNe and falr vlew of the stats of affalrs clthe th* ￿r. In flnandal statements, the are ￿uIr&I to:" 13.2 The Tru5W are reV￿51L49 for ke*rvJ prcw ￿￿nti￿j rel)￿1$ dlthse rea￿￿atrIe dccuw at any #me the flnandal F(61don clthe Charlty and ￿alle thpm to en￿re that the flna￿al siatements comtly wlth the u￿rIveS kt 2011. are restonslt4e for th3uardlng the assets of the tharlty aThJ for laking rea￿nth steps fty the Kr￿￿tIOn and deteclion of hud or other Irregukrtd 13.3 The TnISt￿ have r8Janl to the Qwity Qym1￿,$ gwal guthKe t￿efft vth r￿￿fig thar grant makJThJ actNitls in cé the ahns of tk Try on bdlalf (rf the Trustees M R C*r (Chalm*n)