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|`TRUSTEES`|`ViceAdmiral`|`ViceAdmiral`|`SirTimLaurenceKCVOCB`|
|---|---|---|---|
||`Sally`<br>`J`|`TennantOBE`||
||`Christopher`||`DR Morgan`|
||`Julian`|`AV SmithCVO`||
|`CHARITYADDRESS`|`Farrer`|`&Co`|`LLP`|
||`66Lincoln’s`||`InnFields`|
||`London`|||
||`WC2A`|`3LH`||
|`CHARITYREGISTRATIONNUMBER277814`||||
|`SOLICITORS`|`Farrer`|`&Co`|`LLP`|
||`66Lincoln's`||`InnFields`|
||`London`|||
||`WC2A`|`3LH`||
|`AUDITOR`|`Crowe`|`U.K.`|`LLP`|
||`55Ludgate`||`Hill`|
||`London`|||
||`EC4M`|`7JW`||
|`INVESTMENTMANAGERS`|`Sarasin`|`&PartnersLLP`||
||`Juxon`|`House`||
||`100St.`|`Paul’sChurchyard`||
||`London`|||
||`EC4M`|`8BU`||
|`BANKERS`|`Coutts`|`&Co`||
||`440Strand`|||
||`London`|||
||`WC2R`|`0QS`||





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||`Notes`|`2024`|`2023`|
|---|---|---|---|
|||`£`|`£`|
|`Incomefrom:`||||
|`Donations`||`8,500`|`2,520`|
|`Legacies`||`-`|`36,434`|
|`Investments`|`2`|`233,801`|`221,098`|
|`Total`||`242,301`|`260,052`|
|`Expenditureon:`||||
|`Raisingfunds`||||
|`Investmentmanagementfees`|`3`|`(43,077)`|`(42,330)`|
|`Charitableactivities`||||
|`Grantexpenditure`|`4/5`|`(237,128)`|`(237,294)`|
|`Total`||`(280,205)`|`(279,624)`|
|`Net(expenditure)beforegainsoninvestments`||`(37,904)`|`(19,572)`|
|`Netgains/ (losses)oninvestments`|`6`|`568,303`|`(504,244)`|
|`Netincome/ (expenditure)andmovementinfunds`||`530,399`|`(523,816)`|
|`Reconciliationoffunds:`||||
|`Totalfundsbroughtforward`||`7,796,469`|`8,320,285`|
|`Totalfundscarriedforward`||`8,326,868`|`7,796,469`|





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|`2.`|`INVESTMENTINCOME`|||||`2024`<br>`£`|`2023`<br>`£`|
|---|---|---|---|---|---|---|---|
||`Incomefrominvestments`<br>`Interest`<br>`on`<br>`deposit`<br>`and`|`accounts`|`held`|`by`|`investment`|`227,874`<br>`5,927`|`220,490`<br>`608`|
||`managers`|||||||
|||||||`233,801`|`221,098`|
|`3.`|`INVESTMENTMANAGER’S`|`FEES`||||`2024`<br>`£`|`2023`<br>`£`|
||`TotalfeespayabletoSarasin`<br>`Less:deducteddirectlyfromholdings`||`within`|`portfolio`||`43,077`<br>`(58,115)`|`42,330`<br>`(57,614)`|
||`NetfeesrefundedbySarasin`|||||`(15,038)`|`(15,284)`|



||`2024`||`2023`|
|---|---|---|---|
||`£`||`£`|
|`ChildrenandYouth(2)`|`34,000`||`34,000`|
|`EnvironmentandWildlife(1)`|`4,000`||`9,000`|
|`Medical(7)`|`29,500`||`33,250`|
|`SocialWelfare(23)`|`115,000`||`68,000`|
|`ArmedForces(8)`|`28,400`||`30,000`|
|`Other(0)`||`-`|`20,000`|
||`210,900`||`194,250`|





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|`5.`|`GOVERNANCECOSTS`|`2024`||`2023`|
|---|---|---|---|---|
|||`£`||`£`|
||`Legalfees`<br>`Auditandaccountancyfees`<br>`Consultantfeesforinvestmentmanagerreview`|`15,188`<br>`11,040`|<br> <br>`-`|`14,484`<br>`10,560`<br>`18,000`|
|||`26,228`||`43,044`|



|`INVESTMENTS`||||
|---|---|---|---|
|<br>`Costat`|`Market`|`Costat`<br>`Marketvalue`||
||`value`|||
|`5April`|`At5 April`|`5April`|`At5 April`|
|`2024`|`2024`|`2023`|`2023`|
|`£`|`£`|`£`|`£`|
|`Listedinvestments`<br>`7,058,322`|`8,131,732`|`7,050,743`|`7,610,129`|
|`Cashholdings`<br>`3,836`|`3,836`|`-`|`-`|
|`Totalfixedasset`<br>`7,062,158`|`8,135,568`|`7,050,743`|`7,610,129`|
|`investments`||||
|`nvestmentsaremanagedbySarasin& PartnersLLP.Atyearendallinvestmentsare`<br>`eldinunitsoftheSarasinEndowmentFund.Thetotalnumberofunitsheld`<br>`inthe`<br>`arasininvestmentportfoliofromhistoricincomereservesis353,286.Thetotalnumber`<br>`funitsheldatyearendwas6,714,890(2023:6,704,960).`||||
|`Movementininvestments`||`2024`<br>`£`|`2023`<br>`£`|
|`Investmentsatmarketvalueatstartofyear`<br>`Additions`<br>`Disposals`<br>`Investmentmanager'sfeesdeducteddirectly`<br>`Netgain/ (loss)oninvestments`|`fromportfolio`|`7,610,129`<br>`11,415`<br>`-`<br> <br>`(58,115)`<br>`568,303`|`8,156,322`<br>`15,665`<br>`-`<br>`(57,614)`<br>`(504,244)`|
|`Investmentsatmarketvalueatendofyear`||`8,131,732`|`7,610,129`|





|`7.`|`CREDITORS`|`2024`|`2023`|
|---|---|---|---|
|||`£`|`£`|
||`Grantspayable`|`20,000`|`250`|
||`Accruals`|`18,489`|`16,704`|



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