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 St<tndard Appli¢able in ihe UK and lJEland' {United Kingdom
Geiiei?Ily A¢cei)tcd Accuunting Practice).
In our opinion the financial slateinents..
give a true and faiy vicw of thc state of ihe ehai'ity's affairs 03 at 5th April 2022, and of its incoininkj resoui'ces and
application of iesources, foi. the year thcn ei)ded;
have been properly prepared in accordaiice witli United Killgdoin Generally Accepted Accounting Pr8Cti¢t,' and
have been pi'eparvd in accordance with the IEqiiirements of the Chai'itie5 Act 2011.
Ba515 for opinion
We conducted oui. audit in accordance with Internalional Standards on Auditing (UK) (ISAs(UK)) and applicable law. Oyi.
responsibilities under those standards arc fitrthLr described in ihe ALiditor'b Responsibilities foi. the diidit ol. the finaiiLi&tl staleinents
section of OUT repoit. We are independent of the charity in aceordaHce with tlie ethical requireinents that are relcvant to ()ur aiidii
of the linancial stateinejils in the Ull, incliiding the FIIC'S Ethlcal Standard, aiid ive have fiiifilled our (7ther etliiciil Irsponsibilities
in acuoi'dance witli tliese requireiiients. We believe that th¢ audit evidence we have obtaiEied is siifticEent and appi'opi'iate to pi'ovide
a basis for nur opinion.
Conelusions relating lo goiiig concer
In auditEng the financial 5tatcmenrs, we have concluded that th¢ trustees, use of the going concern basis of a¢¢oun¢ing it) the
preiiaration of th¢ financial statements is appropriate.
Based on the work we have pei'forined, we have not identified any inaterial un¢ertainties relating to events or condition5 that,
individually oi. collectively, may tast significant doubt on the chai'ity's ability to conliniie as a going concei'n for a pei'iod of at least
twelve months from when the finaT]cial 8ta¢ciMents air tjuthovised foi. issue.
Oui. I'esponsibilities and the responsibilities of die ti'ustees witl) respect to going concei'n are described in the Irlevant sections of this
Irpoil.
Other informatio
The other information comprises the infoYmatEon incliided in the annual report, otlier than the fillaD¢ial Statel￿entS and our aiiditor's
I'eport th¢reon. Tlie triistees al'e i'esponsible for the other infoi'imotion eontained within the annual report. Our opinion on tht financial
slateinents does not covel. the other iiitojtnation and, except to the extent othenvi5e explicitly stated in our report, we do not express
any foT]n of assllrance concliisioii thereon.
Oui. iesponsibility is to read the otheT inft>i'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.
l<ln%stoJi Smllh l.LP
Statutory guditoi.
Devonshire Ho
C>0 (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 SI<EY CHARITAHLF. I'IiUST
NOTES TO THE FINANCIAL STATEMENTS
riOR THE YCIAR F.NI)F.D StlI APRIL 2022
ACCOUNTING POLICIES {Continu¢d)
Governance c.osts
Governance costs coinpi'ise all Costs iiivolving the piiblic aecounlability of the charity and its coinpliftnce with
Irgulation and good practice. These costs include ¢95ts related io slaiutory audit fees togetlier with suppoit
costs.
(e) Fixed A55ets
Invcstinents ale 8tated at Inai'ket value at the Balance Sheet datt. The SOFA includes ilie net gaii)s and losses
on revalli￿lti0n and disposals thi'oughoiit the year.
(Q Reali5ed Unitallsed Gains and Losses
All gains and losse5 ore takLn to the SOFA as they ai'ise. Realised gyins and losses on investinenls are calculated
as the differci)ce betwcen sales proceed% and opening mic I'ket value (pur¢ha%e date if latei.). Uniyalised g>ain5 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