2022-04-05-accounts

Ref.. 13874 1010856 THE CHARI,ES SKEY CHARITABLE TRUST REPORT AND fl INANCIAL STATEMENTS REGISTERED CHARITYNUMBER.. 277697 for the year ended 5th April 2022 Messrs. l-loare Triistees 37 Fleet Street London EC4P 4DQ

THE CHARLEIS SKEV CFIARITABLE TRUST CONTE4 NTS Pagc Ti'ustees, Annual Repoit Repoit of th¢ Jndependent Audito]% Stateinent of Financial Activities Balance Sheet Noles to the Financial Stateinents 9- 13

THF. CHARLfiS SKV.Y CHARITAIILE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED Stll APRIL 2022 Reference and administrative iDformatioti Foiindci. Charles Henry Alan Skey (died 7th July 2012) Dates of Deeds Trust Deed- 4th April 1979 Deed of AppointhMent- l Oth Marcl) 1987 Deed of AppoititineJit- 6tli May 1997 Deed ofAppoinlinent- 8th Noveinbei. 2000 Deed of Appointineiit- 7tli Noveinbei. 2006 Deed of AppoinhMent- 30tI) (ktober 2010 Trustees Chi'istopher Biyan Bei'keley John Maityn l.,eggett Revcrei)d Jame5 I-lemy Aufrere Leggett David Bryan Berkeley Edward Jai1)es Bei'keley The power to remove and to appoint a new or additional Trustee5 is vested in the Trustees. The objects of the Trust is to support oi. piDmote such charitable puiyoses as the Triisiees may in tl)eii' abiolute discittioii deteTmine. Nature of Trust A re¥isiered cliai'ily, registered with the Chyrity CoiMini5sionei'5 foT England and Wales as nuinber 277697. Regislered O￿l¢e Flini House Pai'k Hoinei. Road Colehill Wimboi'ne Dorset, BH212SP Independeni Audiloi. Mooi'e KiAigston Smith LLP 9 Appuld Sireet London, EC2A 2AP Investinent Managers Investec Wealth & Investnient Ltd 30 Grcshaim ShEct L,ondon, F.C2V 7QN Banke C. Hoare & Co. 37 Fleet Street London, EC4P 4DQ Adininistraiors Messrs. Hoare Triisiees 37 fleet Street London, EC4P 4DQ Solicitors Russell-cooke LLP 2 Putney Hill London, SW15 6AB Pll8E I

THE CHARLES SKEY CHARITABLE TRUST TRU.STF.fiS' ANiYUAL Rfi PORT (CONTINUED) FOR THE YEAR ENDED 5th APRIL 2022 Report of the Triistees for the year ended 5111 April 2022. The Ti'ustees present their report along with the financial stateinents of the charity for tlie yeai. ended 5th Api'il 2022. The financial statem¢nts havc bt*n prepai'cd in accoidance with the accounting polities set oiit on pages 9 and l O clnd coinply with the Lliiirity'5 Ti'usl Deed, tlie Chai'ities Act 201 l and tli¢ Irquii'einent% of the 8tat¢lMent of Recoinimcnded Pi'actice applicable to chai'ities preparin&i thei]. aCLUiillts in atLordanee w2lh the Findncial Repoi'iinbi Slandard applicable in the UK and Repiiblic of Ireland including Update Bulletin 2. StrLlCture GovernanLe and Mana einent The Ti'ust Deed diiECtE tliat tlie Ltipital (Lxpendable endowinent) incoine of the Fund be applied to oi. foi. the benefit of suth charitable ti'usts, institution8 01. purposes as thc Trustees think fit. Ob ectives and Activities Tlie'l'i'ustees siippnit cau.%e% oil an anniial basis, irregulk)rly at)d oil a one off basis. For those chai'ities ieceiving annual donations, the ainoiint to be given is I'eviewed and, if appropi'iat¢, awardcd annually. foi. those receiviT]g peTiodic donations, the Ti'ustees al'e tht judge ofwhet) a further gi.ant should be Inade. Foi. one off donations, the Trustees exainiiie the iyquests which have been received and have sole authoi'ity as to which to support. In general, the Trust suppoils those causes wheiE the ¥ant imade is ineaningfiil to the iEcipient. Fuiidraisin 'rhe'lrust undertttkes no fundrftising activities; Ihei'e is no involveinent of third party fundraisers and therefore no coinplaints were I'eceived in the yea¥ Jrgai'ding fundjaising pJ?ctices. All incoine is derived fr02n tlie Trust's endowinetat. Grant Makin Polic I'he aT￿Ual incoine from the Chai'itable Triist and its capital are used froin tiine to tiJn¢ to covej. thc annual ¢hai'itabl¢ giants and expenses. The Ti'usttes ineet several tiine5 each year to decide what grants they wish to Inake, iji dccordance with the objectives And activities policy set out above. A5 Jequired by the Chai'ities Acl 2011, the I I'ustees have iefei'i'ed to the Charity Cointnissioii's general guidance oil piiblic benefit when foriiiulating the gryant makinb policy. Jn particular, the Trustees Consider how gi'ants can be made Éo ensure maxamum benefit flows through to thc intendcd ultiinale beneficiaries. The granls benefit a nuimber of publi¢ causes, as detailed in Jiote 3. lil shapillg tlieir objectives for the yeai. and planning their activitie5, the Ti'ustees hk)ve Considered the Cljai'iiy Comjnission's guiddiice'public beiiefit.. i'unning a Charity (PB2)'. AcliieveJnent5 aiid Pei'formance The activities of the'l l'ust i.e￿nal￿ satisfactory and tlie objects ol'the Trust wei'e achieved during tl)e year. All the fiinds of the TTilSi are considered lo fonn pait of one Unrestricted Fund. which Inay be used foi. the general fuitlieiance of the Triist's objects. The Trustces are sat15fied that the Trust'5 ass¢13 are available and adequate to ￿lfil the obligations of the Trust. Financial Ilevicw Total uni'esli'icted incoine diiring the year amounted to £429,434 (2021.. £371,382). Total unrestricted expendithi'e, including grants, amounted to £1,075,163 (2021.. £674.0591. The net redLlCtion of total funds ainounted to £150,107 (2021.. addition of £4.584.280) after taking account of investsnent gains of £495,622 (2021.. gains of £4,886,957). The fiiiancial strdt¢inents for the year aiE set out on pages 7 to 13. Ri8k Malla cmcnt The Ti'ustees have s.%essed the major risks to which the Charity is exposed, in pjrticular those related to the operation a]id fEnances of the Trust, and are satisfied that 5ySteJ)ts are in place to Inanage these Imajor I'isks. The l-rustees, current licy on inaking donati(¥ns is to expeiid, broadly speaking, an ainount equivaleiit to tlieij. aiinuul incoine, eithei. in the year in questioll, or avci'age over a period of say 3 years. Flowever, if a radical change in Inai'ket conditions. particularly in relation to equities, were to affect advei's¢ly the cxpccted level of incoine, then the Trustees Inay need to i'educe the level of gi?nts. In tlie light of this risk, Ihe Ti'ustees Inake it Glear tu the rh(l1'ititS suppoI't¢d by the Ti'ust th¢lt tliey caiinol, and do not. offer any guarantee to the charities as to the niaking of futuie gTants. N¢vLrthclc5S, the TrusteLS keep their investin¢nl Pttge 2

THE CHARLES SICEIY CHARITAIILE TRUST TRUS'fF,fi,S' ANNUAL Rfi PORT (CONTINUED) FOR'fiiE YEAII ENI)F.t) 5th APRIL 2022 stiategy under regulai. review and L'eqiiire tlieir iilV¢5tment advtsers to advisc thein if that sti'aicgy no longer properly suppoits, ur is likely to supporl, their donatj0115 policy. Anotliei. significant I'isk WOLild be a failiire to coinply with a regiilatoi'y rcquireineiit affceting the I'unning of the Ti'u5t. To Initigidte ihat risk, tlie Trustees instruct Messis. Hoare Trustees to alert them to Inatei'ial chaiiges in th08e requiieiiients aiid to Tnunitor regiilatoiy compliaiice un an ongoing basis. The Cliaii'inpn a150 advi5¢5 tlie Ti'ustees at each Ineeting if the Chai'ity Coininission has issiied new giiidan¢e wliich may reqiiire the Ti'ustees to take Jction. Iiivestinenl Polic nd Perfoiinance Undei. the Triist Deed tlie Ti'usiees Inay use iheij. absolute disci'etion to iJiv¢%t any Imoney in any investinents which they think fit. The Triist's investsnent In￿nag￿l'S have beeii set a peifoi'inance largjet ofacl)ieving the 8Otli pei'centile of the unconslraincd ￿ndS as ineasured by a cTrinposite index bic sed 80.10 on the FT AllsharL, 150/0 on UK Goverwllent Allstocks aiid on 5 /0 Casli (LIBOR). For the year to 5th April 2022, the tX)rtfolio posted a Total Return of 5.64V/o, coinpared with the Beiichinark relui'n of 10.20/0. Reserves Poli¢ According tu the Charity Commission's guidance update in their Statement of Recoinmended Practice.. "Accoiiiiting and Reporting by Chai'ities" revised in July 2014, the Trllsl's expendable endowinent is not Considered part of tl)e cliarity's ti'ee ie5erves. Ilowevcr, this endowment 19 a considei7ble sum, and the capital can be used at the disciEtion of the Ti'ustees to fund aiiy deficit on expeiiditui'e. It is tl)eiefoi'e the view of the Triistees that the Trust does not need to hold any additional money in reserve. FutU2E Plaiis The intention of the Trustees is to continue willi the pi'eseni overall policy with regard to investments and donations. Statement ol Trustees, respoiisibilities The trustees are respon%ible foi. preparing the Repoi1 of the Trustees dnd the finaiiLial stateIiien15 Itl aLtordaiice with applicable law c1nd Ui)ited KingdTrin Accounting Standai'ds (United Kingdoin Generally Accepted Accounting Practice). Charity law rcquires the ti'ustees to prepaTe f￿ancial stateiiients for each f￿anCIal period tliat give a true and fail. view of the stale of affaii'.% of the charity and of the incoining Icsouyces and application of resourLes, including tlie iiicoine aiid expejidituir, of the chai'ity foi. that pei'iod. In pirparing tIios¢ financial stateit)ents, the Trustees are ￿qUired to.. select suitable accounting policies and then apply them Lonsis(ently' coinply with applK¢able accoiinting standards, incliiding FRS 102, subjcet to any material departUlES disLlosed and explained in tl)e linanLI£il stateineiits. state whethcr a Stateinent of Recoiiimended Pi'actice (SORP) applies and has been followed, subject to any inaterial departuirs which are explained in the financial 5tdtLinents; Inake judgeinents aiid ¢stiii)ates that are icasonable and pi'udent., prcpaiE the financial statements on a going) Loncei'n basi5 unless it is inappropi'iate to presuii)e that the charity will continue in business. The Trllstees are responsible foT keeping proper dccounting JEcord5 which disclose with i'easonable &cciEracy at any time the financial po%itiot) of the charity and to enable them to ensure that the financial slateinents comply with the Charitie5 Act 2011. They aTe also responsible for safeguarding the assets of the chai'ily and hence For taksng ira50nable steps foi. the pirvention and detection of fraiid and other irregularities. Approved by the Trust¢¢s on.. and signed on their behalf by.. Date T]￿stee I'1'u5tee Psge 3

INDfi P[4 NDF,NT AIIDITnR'.8 Rfi PORT TO'fHE TRUSTf4 Lis ofTHf, CHAIILf4.8 SKEY CHARITABLf. TRUST FOR THE YEAR ENDED 5th APRII.2022 Opinion We liave audited the financial stateinents of The Charle5 Skey Charitable Trust for the year ended 5th April 2022 wliicli cojnprise the %tateincnt of financial Activitics, the Balance Sheet and notes to the finallcial statcinents, including significant ac¢ouiitiiig poliLies. The financial ieporling fi'ainewoi'k that has beeii applied in th¢ii' pirpai?tion is applicable law and United Icingdoin AcLuuntii)gT Slandai'ds, iiicludingi FRS 102 '7'he Fuiancial Repoiling Sti'inalion and, in doing so, consider whcther the other inf011nation is rnaterially inc01151Stent with the fmancial statements oi. our knowledge obtained in the course of the audit or otherwise appea15 to be matei'ially misstated. If we idcntify such matei'ial inconsistencies oi. appar¢nt inatLTial inisslateinents. we al'e Irquired io deterinine wl)ether there 15 a inateyial Inisstateinent in the financial stateinents theinselves. If, based on thc work we have pei'foi'ined, we conelude that tlieir is a iiiatei'ial Inisstateinent of tliis otlier iiifoi'inatiot), we are reqEiired to report that fact. We have nothing to report in this regard. Matters on ivhich ive al'e I'equired to report by exception We have nothing to report ID respect of the following Inattei's where the Cliarities Act 2011 requires lis to report ¢0 you if, in our opinion.. Page 4

INDE4 pf4,NDF.NT AUDITOR'S RI4 PORT TO THE'fRUSTEI ES OFTHC C.FIAItLF,.S.%KE¢ Y CHARI'I'ABLI TRUST (CONTIJYUF.D) FOR THE YEAR ENDED 5th Al)RIL 2022 Matter5 on ivhich we are requii'ed to irport by exception (continued) the infoiThation given in the Trustees, Annual Report is inconsistent in dny Inatei'ial respect with the financial slatel￿entS,. or the chai'ity has not kept adcquate accounting iecords,. oi. the fEJiaiicidl slat¢ment% ale not in ￿￿greenIent with the accounting iocords and returns. or we liave nol i'eceived all the infoiinatiuii aiid explanations we requii'ed for oiir audit. Re5pollsibilities of Ihc trustees As explained more fully in the trustees. responsibilities slatement set out on page.I, the trustees are responsible for the picparation of the financial stateinenL% and for being saiisfied that they give a tt'ue and faij. view. aiid f(Tri' such iiilei'jial control as the ti'iistees determine is necessaiy to cnable the preparation of financial stateinents that arc free froin i)iarerial Inisstateinent, whetli¢r due to fraud or error. In prcparing the financial statemeHt5, the tnistees are responsible foi. ass¢ssingT the charity's ability to continue as a going concei￿, disclosEng, as applicable, Inc1tters related to g()ing concern and using the goiiig conccrn basis of accounling> unless the tt'uslees eiiher intend to liquidate the charity or to cease operations, OT have no iralistic alternative but to do so. Auditor's Responslbilities for the audit of Ihe finanelal statements We have been appointed as auditor linder section 144 of the Lhai'ities Act 2011 and report in awordanrx with regiilations Inade under s¢ction 154 of that Act. Our objective8 are to obtain itasonable assurance about whether ihe finaneial statements as a whole ai¢ free from n)aterial InisslateiiTrent, whether diie to fraud or errol., and to issue an aud￿tOl s report that Encludes our opinion. Reasoiiable a%8uraiice is a high level of assurance, but is iiot a gjuarantee thal an audit Lviiducted im aceordaiice witli ISA5 IUIC) will alwayq dctect a material mis%tateinent when it cxists. Misstateinents can ai'ise froin fraud or ei'i'or and al'e Lonsidered n)ateTial it., individually oi. in aggregate, they could ieasonably be ¢xp¢cted to infliience the econoinic decision8 of users taken on the basis of these financial giateinenls. As part of an audit in accordance with ISA5 (UK) we exeiri5e professional judgeinent aiid mauitain professional scepticlsin throiighoiit the audit, We al%o'. Ideiitify and as5eS5 th¢ risks of material inisstateinent of the financial statcments, whether due to fi'aud or error, design and perfoiin audit procediires Yesponsive to those risk5, and obtain audit evidence tliat is sufficient and appi'opriate to pi'ovide basis for our opinion. The ri.sk of iiot dLtecting a Inaterial Inisslateinent resulting fi'oin fraud is Ill￿¢1. tlian for one resulting from eri'or, as frttiid I￿aY involv¢ colliision, fnrECry, intentional omissions, mi8rcpi'escntdtions, oi. the ovei'ride of internal coiitrol. Obtain an understanding of intei'nal ci)Mtrol rtlevant to the audit in order to design audit procedures that are appropriate iii the cir¢umstaJices, biit not for the puiposes of expressing an Opinion on the effectivelless of the chai'Éty's iniemal control. Evalu)Ée the appropriatenes5 of accouiiting policies used and the reasonablenc5s of accounting estimates and related disclosui'es Inade by the th'ustees. Conclude on the appropi'iatene5s of the tTUStee5' use ol'the going concern basis of accounting and, based on the audtl evidence obtained, whether a maierial uncei'lainiy exi51s related to events oi. coiidEtiotlS that Inay cast significant doubt on the charity's ability to continue as a going Concern. If we conclude Ihat a material unceilainty ¢xists, we are required to draw attentiuji in our auditor's repoit to the related disclosiires in the financial stateinents or. if such disclosures arc inadLquate, to modify oui. opinion. Oui. conclusions aTe based on the aiidit evidence obtaiiied up to the dote of our aiiditor's i'epoit. However, future events or conditions Inay cause the ¢harity to cease to continue as a going concern. Eyaluate the overall presentation, shiictuie and content of the financial stateinonts, incliiding ihe disclosures, aiid whether the f￿anC￿al statements represent the iinderlying tran5actÉons and events in a mannei. that acliieves fair presentation. l)Agc 5

INT)li IJIèliT)IPNT AIIT)I'mR',5 IIL4 POII'I. TO THE TRUSTllS ofTFII CHARLES SKEY CHARITABLE TIIUST (CONTINUED) FOR THI I'IAR ENDED Stll APRII, 2022 We coiniiiuni¢ale ¥viih Ihos¢ cliaiEed i¥ilh governaiice regaixling, aiiiong other nistlers, the plunned sLI)pe and iiniinbT ofihe audit Explllnation Is to what ¢xt¢nt the 9tLdit IVRS cDnyidcrtd eiip#bl¢ of d¢te¢tiiig iri'e%ulsrilios includin¥ fi'nttd Tfc8iilarilits. incliidin8 fiyiid, llre in%lllnce% of non-complianc¢ willi laivs regiilalion5. We desi￿ procediiiw in liiie iviili oui. rasponsibilities, ollilined abovc, 10 dcl¢ci niat¢iial misslaleni¢nls in respe¢1 of irre8ulgrilies, incIL￿1￿¥ fi'dud. Tlje exieni 10 %vl)i¢h our proc¢duir5 are capable of deieciitsg irregiilaixiies, iii¢lL￿t￿8 frllL￿ is detailed beloiy. Th¢ ohjectivcs of IWT tudil in respc¢i of Irau(L a￿., to identify Ilie I'isks of maierial niissldleinent uf Ihe financial sial¢m¢nis due lo fraud,. lo oblaiii suffiL'ienl dpprvpriaie aii(lil eVI(lence iEgai'ding Ilie a%se5SEd i-i5ks olinalrrial nii£.%latem¢iil due lo frlllld. IhToiigii dL'%i8ttin¥ and inipl¢inenting appraprialc r&%pon5es 10 thos¢ asscsscd risk%', aiid ID rcspond oppiyjpi-iaiely 10 insianccs otfi'aud 14. suspcclcd fiYud id£nlified during the aiidil. Hoivever, Ilie pl.￿￿￿TY respun&ibiliiy for ili¢ pr¢venliun aiid deleclion of fraiid rests witli bolh nianagcinttnl Iliose Lharged iviih guvernaiiL¢ ofiiie cliBrity. Oiir apwach ivH5 Bs folloiys.. We DbtaIn￿ an lind￿. landiiig ofihc Icgal and rcgiilatory Tequircmcnls applicable lo th¢ chaTily and Considered that the m051 si￿lfiCant ale the Chtitities Aci 2011, Cligrity SOIiP, UK finanLial IPp￿tIng31#￿￿￿￿S as is511ed by the Financial ReporlinB Counoil. Wc obtaincd an understgtding of lim¥ the charity complies iyiilj Iliese ]Yqullemenis by discu￿l￿nS ivith manag£nient and Ihose bhaT￿e￿ iviih goveman¢e. We assessed Ihc risk of material misslaiem￿t of the financial sl&lements', incliiding Ihe risk of niawi41 mi5slaleiiienl due lo frdiid dnd ho%¥ li nii8I1l o¢iur, by holdingdTSLl155iong wilh m#n#8¢m¢ttl gnd Iliose cliai'ged iviili goI￿rnan¢t. Wc in(Juired ofnianagon¢nt gi￿ those ¢h8rged wilh goveiManc¢ & lo any knuivn ins1￿ceS of tton-¢oi)Ipliano¢ ur suspecled non-cutnplian( Ivitli laivs r¢gulalions. Based on iliis undcrslanding. Ive de%igned specific appr(4)riaio audtt procedure5 tu idenlify insianees of non-¢Xbniplian¢e iviih laivs and regulHlivns. This Tnclucled making enqEllI'ies uf nillnaBenienl Ihob¢ Llur8¢d %viili 80vel￿ance and obifiining additional ¢ottY>bDralive ¢vid¢nce as requiTed. Tljere are inlierent IiDiitBlions in Ihe aiidii procedurey d¢8ci'ibed above. We are IE55 lik¥ly lo becain¢ alvar¢ of instances ofnon-complianr¢ wtlh laivs and re8iilaiions Ihal Ji'e not closely related ITr cvcnis and Iransa¢tiong rcflccled in thc finatscittl $taienienis. Also, Ilic risk of not detecting a material nii.s£lalett)enl di1¢ io fr8ud is highcr than th¢ riEk of not deieciing one resultin8 froiii error, as fraiid iijay involve deliberate ion¢eJlnient fLY example, forgery or inltntional mlstepIEsenlaiions, or Ihroiiglj collusion. Use olour ropTri'l Thig report is niade solBly lo the ¢harily% Iwslees, as a hnd)., in accordance ivilli CThapl¢r 3 of Part X of the Chariiies Aci 2011. Oiir audit Ivork ha5 bcen und¢rtaken so Ih&t ive iiiighi slate 10 Ihc ¢harity's Iruste¢5 those n￿llerS Ive are r4iiired lo slai¢ to i7￿￿1 in en audilui s repvrl artd ftr. no otlw piirtx)se. Tv ihe fullest exl¢t)I perjnilted by laiv, ive do noi aittpl oi. #£%iiine responsibilily lo any paity othLI' Ilian Ihe d)arily and charity's Iriislee¥ as a body for our audit ivork, for Ihis r¢porl, or for the opinion wc hav¢ fomi¢d. l0 (io£ivell Iload Lond￿1 ECIM7AD Date.. 1 December 2022 Moore Kiswlon Sniiih l.l.P ig ¢li8ible to llcl 3s aiidilor in Icrms of 8cclion 1212 of Ihe Companic5 Act 2006. P&g¢6

THE CHARLEI S SI(EY CHARITABLE TRIIST STATE4 METrIT OF FINANCIAL ACTIVITIEIS roiiTHE YE4AR fi NDF.D 5th APRIL 2U22 Unre5trieted Furtds ,xpeiidable Endoivinent UniEsts'ict(%l Fiiiids Fxpendabl¢ Endowiient TotHI Funds 2022 Total FLinds Incuffle ljicojne Notes 2021 Jneonie and Expeiiditure IIYCOMF. Inveshnent Éi)¢oine 429,434 429,434 429,434 429,434 371,382 371,382 371,382 371,382 TOTAL JNCOME XPENDITURE Costs ot raising fuiids Inyesbnent Mallageinent Costs Charitable activities TOTAL EXPENDITURE 75,346 75,346 999.817 1075,103 71,721 71,721 602,338 674,059 999,817 999,1117 602,338 602,J38 75,346 71,721 NET OPERATING INCOMEI(EXPEI f4DITURE) (570,383) (75,346) (645.729) (230,956) 171,721) (302,677) OTHER RECOGNISED GAINSI(LOSSES) Realised Gainl(Loss) on investtnent disposals Gainsl(Los%es) on irvaliiation of investmenis (40,257) 535,879 {40,2S7) 535,879 366,321 4,520,636 36C),321 4,520.636 NET INCOME I (EXPENDITURE) (570J83) 420,276 (150,IU7) (230,9561 4,815,236 4,584,280 Gl'oss transfer between funds 570J83 70,383 92,508 (92,508} NEI T MOVEMENT IN FUNDS (150,107) (150,1071 (138,448} 4,722,728 4,584,280 RECONCILIATION OF FUNDS Total funds biY)ught forward 16,854,766 16,854,766 138,448 12,132 038 12,270,486 BALANCES CARRIED FORWARD 16,704,659 16,704,659 16,854,766 16,854,766 All amounts relate to continuing activities. All recognised gains and losses are included in the Stateinent of Financial ALtivities. Page 7

THF, CHARLV.8.8KfiY CHARITABLE TRUST BALANcr sTrir4,F,T AS AT 5th APRIL 21122 Notes 2022 2021 ri IXED ASSEI TS Investinents 15,455,548 15,989,028 CURRENT ASSETS Cash at Bank Fixed lerin deposit Debtors 406,230 800,000 71,671 1,277,901 538,355 300,000 55,460 893,815 CURRENT LIAHILITIL8 Creditoi's - falling due within one yeai. (28,790) 28,077 NET CURRENT ASSCITS 1,249,111 865,738 NET ASSETS 16,704,659 16,854,766 UNRF,STRIC.TED FUNDS Expei)dable Endowin¢nt Incoine Fund 16.704,659 16,854,766 TOTAL UNRESTRICTED FUNDS 16,704,659 16,854,766 Approved by the Trustees and aiithorised for issiie on.. and signed on iheir behalf by.. Date Trustee Trustee

THF, CHAIILES SKEY CIIARITAIILF, TRUST NOTES TO THE FINANCIAL STATE4 MENTS FOR THE VC4AR E4NDED 5th APRIL 2022 ACCOUNTING POLICIES (a) Basis of Preparation 'rhese fIiiai)cial stat¢iiients al'e prepai'ed on a going concei'ii basis, under the historical cost convention, a n)odified by the Irvdliidtiuii uf investments being> measui'ed at fair value tIll'o￿g￿ income and expenditure within the St2teinent of Financial Activitie5. The finaiicial sta(eJnents have b¢eii prepared in a¢coi'dance with the Financial Reporting Standard applicablc in the UK and Repiiblic of Ii'eland (FRS 102). The Clidl'lty is a public benefjt entity foi. tlie purpu5es of FK% 102 and thercfoie thc Chai'ity also prepaied its financial statLmenls in accordance with the Stateinent uf Recomii)ended Practicc applicable to charities prepai'ing their a¢count8 in accordance with the Financial Reporting 8tandlli'd appliudble in the UK aiid Republic of lirland (The PKS 102 Lharities SORI)) including Update Biillctin 2 and the Clidrities Aci 2011. The financial stateinents aTe prepared in sterling> which is the functinnal currency of the charity. Monetary inounts in these financial stateinents aiE I'oiinded to the nearest pound. Thc pi'incipal accounting policies adopted in the preparation of the f￿ancial slaieinents al'e set out below. (b) Fund StrLEeture The Expendabl¢ Endowment Fund repi'esents those assets which are held for the longer tenii of ihe Tnjst, in accordance with the tel￿S af the Trust Deed. Incoine arising on th¢ Expendable Endowinent Fuiid cali be used in the Uni'e5tricted Fiinds. As an fxpeiidablc Endtswiment Fund can be used in a¢coi'dance with the objects of Ilie Trust, capital can alsu be spent in ceitalli cii'cuinstances in fiilfilinei)t ot'the Ti'usV8 ohjccts. Any capital gains or losses ai'isiiig oil the investinents held in the Expendable Endowjnent Fund foriii part of tliat Fund. (t) liicome All income i5 reco￿lSed in the Stateineiit of Financial Activities (SOFA) when the conditions for rec¢ipt have been inet and receipt is probable. WheiE a claiin for IEpayineiit of ii)¢oJne tax ha5 been oi. will be Inade, such income i.% ￿ts5$ed up foi. the tax IEcoverabl¢. Tlie following accounting policies aTe applied tu diifei'ent categories of income.. Crknts and Donations Receivable (il?nts and Donations are IEcognised in the SOFA when conditions for receipt have been complied with. Investment InC￿rne Interest rcccivable on deposit and se¢uritie5 is yccounted for as it accriies. Divideiid iD¢oine receivable on securities is accounted for when received by the invesbnent Inanager. (d) Expenditure Liabilities are reKogniscd d5 expenditiire as soon as their is a legiil oi. construttive obligatioii coininitting Ilie charity to tl)e expenditure. All cxpendithre is accounted for on an accruals basis and has been classified uiider headings tliat aggr¥gate all costs related to the category. The following acc()unting policie8 Jre applied to the different categories oFexpenditure'. Cost5 of RAising Funds The costs of 12lsing funds consist of investment InanagciMent and certain legal fees. ChMYltable Aelivities Donations payable are I'ecognised when they arc approved by the ts'ustees and the re¢ipi¢nt of the grani has been inforiiied of the aTnount to be paid. PaBe 9

THE CHARLES SIain5 and losses al'e calcLilated as the ditTeren¢e betweeji the Inai'kct value at the yeai. end and opening Inarkct value {or pui'chase date if latei.). (g) CJoing coThccrn The trustee8 have assessed whether the use of thc goiiig concern ba515 is k)ppropriatc and have ¢onsidoi'ed possible events or conditi0115 tliat inighi cast significani doubt on tl)¢ ability of the chiirity to continue aq a going ¢on¢ern. The b'ustees have Inade this ass¢ssintnt For a pei'iod of ai least one year fi'(Trin the date of £lPPI'oval of the financial stateniellts and have consideird the potentigl on-going impact of the Covid-19 pandeiniL. In paj'iicular the ti'UStees have taken account of investinent incol￿e piessures and the likely impc1¢t of the pandeini¢ OT] investsheni values, ￿ well as exp¥nditUTe. The ts"ustees have the Ilexibility to draw down on the expendable cndownent fvnd if 1Equi￿d to support g'ant expenditure. After makin&> enquii'ies the ti'ustees have concluded that there is a r¢asonAble cxpeclation that the charity has adequate itsources to continue in opei'atioiial existenLe foi. the lorebeeable futiii'¢.'fhe chaTity theTefore continues to adopt th¢ going concei'n basis in prepai'ing its f￿anCIal statements. (h) FinanciAI instruments Tlie Lharity has tle¢led to apply tlie provisions of Section I I 'Basic Financial Instn]inent%' of FRS 102 to all of its financial instruinents. Financial instruiiients aiE JeLognised the ch<irity's balance sh¢¢t when tlie charity bectsines party to the contt'a¢tual provisions of the insti'uinent. Financial assets and liabilities ai'¥ offset, witli the net ainount5 PJEseiited in the financial .stat¢in¢nts, when thei'e is a legally enforceable right to set off ihe recognised ainounts and there is an intention to settle on a net basis or to IEalise the 8sset and settle the liability simultancou81y. With the exteptions of prepayment5 and deferred incoine all otlier debtoi. and ¢reditoi' ba1￿CeS aiE consideird to be basic fEnattci&l instruinent5 undeT FRS 102. Sce note 8 for the debtors note and natc 9 for the ereditors note. (i) C#sh %knd easli equivaleiils Cash and ¢aEh equivalent8 include cash in hand, dcpusils held at call with bank& other short-term liquid inveslments with oi'iginal inaturities of three Inonth5 or les5. (i) l<ey E5timutes and Judgenienls In prcparing financial stllieinents it is necessaiy to mak¢ certain judgements, estiinates and a5suJnptions that affect the ainounts recognised in the financial stateinents. Ill the view of the trustees in applying the aLeounting policies ddopted. no judgejnents were required that have a significant effect on the ainounts recognised iv the finaiicial stateinents nor do any estunates or assuinptions Jnade carry a significant risk of matei'ial adju5hnent in the next financial year.

THE CHARLES SKEIY CHARITAIILC TRUST NOTES TO THE FIIYAIYCIAL STATEI MEI NTS (CONTINUEI D) FOR THE YEAR ENDED 5tlI APRIL 2022 INVESTMENT INCOME 2022 2021 Investinent inconie Interest oil cash deposits 428,597 837 429,434 370,342 1,040 371,382 CHARITABLE AC.TIVITJF. The cliarily undei'look iio dii'ect cliaritable activities but awarded donations to a nuinbcr of institutions in fiiiihei&nce of its chai'itable activitieg. 21122 2021 Grants Inade 975.500 582,000 8upport ctssts Govcrnance costs (see note 4) 24,317 999,817 20.338 602.338 'l-he giants made coillprised the following.. Advaneememt of educatio Braseno.%e Ctsllege, Oxfoi'd Kingham Hill Trust Sherborne School foundation Tlie Voices Foundation 40,000 15,000 110,000 85,000 25,000 25,000 Advaneement of religion St. Andreibls Chuirh, l<endiay St. Jaine5' Church, Ilyde 18,000 10.000 8,000 AdvHnccment of health oi. the saving ol live5 Dementia UK Fiench Hospital Inspire l.-oundation World Siglit Foundation 25,000 10,000 10,000 40,000 i o,00(J i 0,000 i 0,000 i 0,000 5,000 Advancetnent of citizcnship or Community development Centre for Enterpi'ise Markets and Ethics Envision Lvndon Ciiy Mission The Branch, Chipping Norton 315,nQO 35,UOO 10,000 70,000 200,000 140.000 110,000 i 0,000 20,000 Past 11

TIIE CHARLEIS SI<CI Y CHAIIITABI,F, TIIIIST NOTES TO THE blNANCIAL STATE4 MEI NTS (CONTINUEI D) FOR THE YEAR ENDEI) 5th APRIL 2022 CHARITABLE ACTIVITJES Cont'd 2022 2021 Advaneement of arts, culture, heritage or science Alineida Th#atre Bt.1ti.￿h FilTll Institute F,nglish stage Loinpany Ltd H¢lp Musicians UK HiigTuenoL MuseLtin lllstitiite of ITnagination Polka Theatt Royal Miiseiims Gi'eenwich The Jenner Ti'usl 395,000 60,000 60,000 20.000 25,000 230,000 10,000 10,000 20,000 25,000 20,000 210,000 20,000 60,000 60,000 25,000 Advaneement of amateur sport MCC boundatioii On Coui'se fouiidation 95,0110 6S,OnO 30,IHIO 10,000 20,000 Relief of those in need by i'exsoii of youth, age. ill-health. di5abilityy finaiicial hardship or other disadvantage Hcbridcan Piirsiiits Outdooi. Learning {Roses Chai'iiabl¢ Trust) Thrive Noithox 22,500 24,500 22,500 2,000 Promotion of the ¢fficieticy of tht ai'med forees of the Croiyn, or uf the effiLieiicy of the police, fire and i'escue Service or ainbul#iice services. Fusilier5 Loiidun Fund Imperial Wdl. Museuin Thc Fiisiliei's Fund 65,000 7,500 so,000 15,000 ANALYSIS OF GOVERNANCE COSTS 2022 202 Truslees, expenses AudiloVs remunei'ation.'- Audit fee foi. tlie year Prior yeai. uiider provision Messr5. Hoare Trustees:_ Administration fee for the year Prior yeai. UT]deTI(ovei') provision Investe¢ Wealth & Investineiit- L¢gal Entity IdentifieT fee Ru5scII Cooke LLP legal fees 588 5,250 10 1511 16,250 15,000 78 9110 78 24,317 20,338 Page 12

THE CHARLES SKEY CHARITAIII,E TRIJ.%'I' NOTELS TO Tiir, rTNANeIAI..81'A'I'I.MF.N'I'S (CONTINUCI DI roR'I'IIL YEI All II,NDLD 5111 AI>RII. 2022 RfMUNERATION OF TRUSTEES In Ilie fingnLi41 ye¢il ended 5ih Api'il 2022 noiie ofilie I'ru51ee5, who are dteme(I ltr bt key management persf)nn¢l. reLeivttd any IEmuneralioii frojn Ilie Charily12021., Nill. lliree-friistee% received a total of 15%8 irt I￿SpeCt of Ihc imburseTnenl olcxpLiises iiicurred in Ihcir dulics &%'l ru%tccs12021,' no cxpcnscs il'crc incurrcdl. riIXED ASSET INVL8'fMENTS Movtmtnt fixe(S A85el illve5tmen15 2022 2021 Listed investments Markcl Valiic Brought l.ornvard Addition% at C05t Disposal procceds Rcalised CiainllLo%%l on disposals GainsllLossesl on Irvaludtivn M#rkL't Val￿e CAI'J'ied ForwArd Casli held by bwkei3 15,979,318 911,333 11,946,775) 140,2571 535,879 15,43Y,498 16,050 11,207,364 1,708,303 11,823.3061 366,321 4,520,636 15,979.318 9.710 Total Inyestmenls %t 5tIL April 2022 Jf,45.5,548 15,989,028 Hislorical cost of Inv¢sttnents as ai 5th April 2022 726,353 9,70<),49¥ G¢oErxphltAI AnAIysis United ICingdvTD investittenis Oiierseas inv¢slineiils 5,738,825 9,700,673 1.5,439.498 6,21 %,459 9,76n,85() 15,979,318 FUND TRANSFERS Tlie Tru51trs Inacle a transfer of £570.38312021.. £IJ2,5081 from the FJxpendable Endo%vtn¢nt liund th the Incomc Fund. I)EBTOR8 2022 2021 Year end income ￿sh tixn5fer due from Inveslec 71,671 71,671 55,460 55,460 CREDITORS 2022 2021 Invcstec Wcalth & Invesimtnt Managemcnl fces Mthtsre Kingsion Smith- Auditor's R¢tnun¢r&tiort Messr5. HoaTe Trus¢e&* Adminislraiion fees 6,990 5,550 16,250 28,790 7.827 5,250 15,000 28.1177 Page 13