ARTHUR JAMES PATERSON CHARITABLE TRUST REGISTERED CHARITY NO: 278569 FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
ARTHUR JAMES PATERSON CHARITABLE TRUST CONTENTS Pag• Trustee's Report Independent Ex8minerfs ReKK)rt Slalemenl of Financial Activiles Balance Sheet Notes lo the financlal slalemenls 7-10
ARTHUR JAMES PATERSON CHARITABLE TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustee presents its annual report and financial stalements of the charity for the year ended S April 2025. The financial statements comply with the Charibes Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Praetiee applicable to charib.es leffective 1 January 20191 preparing their accounts in accordance wth the Financial Reportj'ng StaThJard applicable in the UK and Republic of Ireland IFRS1021- ICh8rilies SORPIFRS102IISecond Edilionll Legal and administrative information ConstitutSon Arthur Jamès Paterson Charitable Trust is a registered charty govemed by a Settlement Deed dated 26 July 1979 Charity Number.. 278569 R•gl$t•r¢d Offl¢• Th8 Administrator Th& S¢alpel. 18th Floor. 52 Lime Street, London EC3M 7AF Banker Union Bancairè Priv*è Bank Limiled One Bank Slwl, Canary Wharf. London E14 4SG 8ank•r8 and Inv•sthi•nt Manag•rs Evelyn Parlners Investment Management LLP 45 Gresham Street, London EC2V 7BG Ind•p•nd•nt Examlners K$¢On Reeves LLP Samantha Rouse FCCA DChA, 37 Si Margaret's Street, C8nl&rbury, Kènt CT1 2TU Trust8• Olr•etors JTC Trusl and Fiduciary Services IUKI Limrted Rachel Iles George Ryan Davhj Bromley On 25 November 2025 the legal name and registered address ol the corporate trustee changed from Kleinwort Hambros Trust Company IUKI Limiied of One Bank Street. Canary Wharf, London E14 4SG lo JTC Trust and Fiduciary Services IUKI Limiied of The Scalpel, 18th FIcrt)r, 52 Lime Street, London EC3M 7AF. Obl•cts of thè charlty The objects of the charity are to promote and support such charitae purpose or purposes, and such charitable organisation or organisalions Ibeing purposes and organisations which are exolusively charitable according to the law of England) as the Trustee shall from time to b'me in its discretion decide. The Trust is a registered charity under Charity Cornmission reference number 278569. The Trust was established by Arthur James Paterson by a Deed dated 26 July 1979. The Trust remained dormanl until the settlorfs death in 1986. at which t1Th the setuorfs estate passed into the trust. The Trust fund is held to benefit such charitable purposes as the Trustee in its absolute discretion think fit, although during his lifetime Arthur James Palerson gave Ihe Trustee guidelines as lo how he would like to see such discretion exercised. Grant making policy The Trustee's current policy is to annually distribuie ihe Trusl's income to certain selected charities, although no commitment is given to the recipients. It is unusual the Trustee lo Spond favourably to unsolicited appéals and applications will not bè ackn9&d.
ARTHUR JAMES PATERSON CHARITABLE TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustee's review the selected charibes. and consider new appeals received at Iheir annual Trustee meeting. norrnally held in July. Appointment of Trustee's and charity oryanisation Tha charity is managed and adtninist8r8d by th8 corporatè Truslée. JTC Tnjst and Fiduciary Sèrvicès IUKI Limited, which was appointed under the terms of the Trust Deed. Flnanclal revlew and Investment pollcy The financial slalemenls cover all the activities ol the charity during the year. Gross income totalled £62.432.651£59.793.77 in 20241. Under the governiThJ document. there are no restrictions on the charivs powèr to invest. Thè ovèrall invèstment policy is to achèivè long tèm capital growth in real terms. The unrestricted fund balance at 5 April 2025 was £2.181.464.771£2.120.303.1 in 20241. The financi81 statements show the inveslm8n15 81 market v8lu8. Al the year ended S April 2025 there was an unrealised net gain of £102.989.37 (gain of £104,544.50 in 20241. R•vlew of the actlvStS09 and future d•velopmonts The Trustee is satisfied with the financial posilion of the charity and confirm5 that il has adequate assets available to fulfil their obligations. Théra are no plans to alter the charitys activilies next year. Charltvs publSc b•n•fSt The Trustee has ensured lha¢ all aclivilie5 throughout the period have been for the public benefit. This 15 evidenced by the Contributions made lo individtJal$ and institutions lotallin9 £76,000.001£53,460.00 in 20241. The Trustee confimis that it has referred to Ihe guidance cDntained in Ihe Charity Commission's general 9uidance on publi¢ benefit vh)en rgviewing the ¢hanlls aims and objectives an¢J in planning fulurg aclivilies. R•se poll¢y It is the Tmste8's intention to maintain an unreslrict8d lund at lèast 8quival8nt to tha historic cost of investments, ¢ogelher with a small cash balance of income. partly ¢0 offset any fluctuation in investment income in future periods and to enable them to continue their policy of responding quickly to appeals for significant support where appropriale, the liming ol which is unprediciable. All lun(Js arts htrld on an unrestri¢t8(I basis. 11 is Ihe kX)liw of thtr Trustee lo donate 811 income lo further the objects of the trust. Rlsks The Trustee ha8 considered what risks the (arity lace5 and believe these lo be as follows.. Risk identified Investments will drop in valug Aclion tak to mili ate thè risk - Trustee has appointed a wofg$$K)nal fimi to manago the investments - Donations made 11 not be spent how - Trustee actively review the don8tions 8nd ask for the Trustee would like updates and reports. Investments are made principalty in UK quoted fixed-interesl stocks and equity shares to provide a high level of income eonsistent wth mè(lium risk and potential for capital appreciation in the longei tèm. Going Coneèrn The Trustee is of the opinion that the charity has adequale resources lo continue in operational exislence for the foreseeable future and there are no rnalerial uncertainties regarding Ihe Charitys ability lo do so.
ARTHUR JAMES PATERSON CHARITABLE TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 Trusteg's rgsponsibilities in relation to the financial $tatements The charity Trustee is responsible for preparing a Tnjstee's annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accept Accounting Pr8Ctie61. The law applicable to charities in England and Wales requires the charity Trustee to prepare financial statements for 88ch year which give a true and fair view of the stste ol affairs of the charity 8nd of the incoming resources and application ol resoufces, ol the charity for that period. In preparing the financial statements. the Trustee is required to.. sèlact suitablè aeeoLJnting policiès and th8n apply thèm eonsist8ntly, observe the methods and principles in the applicable Charilies SORP., make judgements and eslimaies that are reasonable and prudent", s¢8t& whèther applieable a¢¢ounting stsndards have betrn followed. subject lo any material dtrp8rtures that must be disclosed and explained in the financi81 $tat8m8nts', prepare the financial sl818menls on the going concern b8sis unless il is inappropriate lo prasume that the charily will continue in business. The Trustee is resptsnsible for keeping prowr accouniing rerdS that disclose with reason8bl& 8¢¢uracy al any time the financial posilK)n of the charity and lo enable them to ensure that the financial statements comply wth the Charities Act 2011. the applicable Charities IAccounts and Reportsl Regulations. and the provisions of the Trust Deed. The Trustee 1$ also responsible for safeguarding the assets ol the charity and taking reasonable steps lor the prevention and deteclion ol fraud and oiher irregularities. Digilally signed by.. Bradley Walden Date.. 2026.03. 17 13'.55.'12 Z Digitslly signed by.. Scott RICE 03.17 14.19.. 28Z JTC Trust and Fiduciary Services IUK) Llmited Date
ARTHUR JAMES PATERSON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT I report to the Trustee on my examinabon of the accounls of Arthur James Paterson Charitable Trust for the year endod 5 April 2025 %thi¢h are set out on pages 5 to 10. R8spectlv8 r•sponslbllltl•s of Trust•• and Examln•r The Trustee is responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 llhe 2011 Acl'l. I report in respect of my examination of the Trusvs accounts as carried out under section 145 of the 2011 Act. In carrying out my exarninats'on I have folloed the requirements of the applicable Direcbons given by the Charity Commission under section 14515llbl of Ihe 2011 Act. Indèpendent Examlnèrfs stat•m•nt I have completed my examination. I confirm that no matters have come to rny attention giving rne cause lo believe that in any material respect.. 11 accounting records were not kepl in respecl of Ihe charity as required by seciion 130 01 the 2011 Act., or 21 the accounts do not accord wilh those records: 31 the accounts do not comply Mlh the applicable requirements concèming thè lom and contant of accounts sèl out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give true and lalr view which is not a matter considered as part of an independent examinatlon. I have no concems and have come acTOSS no other matters in conrctIon vith the examination lo which attention should be drawn in this report in order lo enable a proper undelar}dIng of Ihe accounts lo be reached. KRESTON REEVES LLP 37 St Margaret's Street Canlgrbury Kent CT12TU Samantha Rouse FCCA DChA Dato 17 March 2026
ARTHUR JAMES PATERSON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Note 2025 Unrestricted Fund 2024 Unrestricted Fund Income Investment Income 62,432.65 59,793.77 Total Income £62,432.65 £59,793.77 Expenditurè Charitable Activitl8S Costs of raising funds Governance costs 76.000.00 18.093.37 10.769.40 53.460.00 17,347.72 10,350.00 Totsl EXndItur• £104,862.77 £81,157.72 Not Expgndlturg 8gfor¢ G¥ln¥ and Losses on Investments 1£42.430.121 1£21,363.951 Not Galn$llLos$e$l on Inv?¥tm?nts Reallsed Unrealised 601.62 102,989.37 110,330.831 104.544.50 103,590.99 94,213.67 Not Mov•m•nt In Fund¥ in th• Y••r £61,160.87 £72,849.72 Fund8 At 5 April 2024 Net Movement of Resources in the Year 2,120,303. 61,160.87 2.047,454.18 72,849.72 At 5 April 2025 £2,181,464.77 £2,120,303.90
ARTHUR JAMES PATERSON CHARITABLE TRUST BALANCE SHEET AS AT S APRIL 2025 Note 2025 2024 Flxed Assets Invgslmènls 2.168.709.73 2,105,316.59 Currant Assèts Cash 19.%1.64 21,029.31 19.961.64 21,029.31 Current Llabllltle¥ Creditors, 8mounls falling due within one year 7.206.60 6.042.00 N•t Curr¢nt A8$¥ts 12.755.04 14,987.31 A$8¢t8 l¢s$ Current Llablllt•$ £2.181.464.77 £2,120,303.90 Fund$ Unrestricted Fund £2.181.464.77 £2,120.303.90 The financial statements were approved by the Trustee on Digitalty Signe by.. Bradley Walden Dale.. 2028.03. 17 13".$5".43 Z 2026 te- 2026Dy. 171421 02Z JTC Trusl and Fiduciary servi IUKI Limited
ARTHUR JAMES PATERSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 1 Accounting Policie$ The principal accounting policies adopted. judgements and key sources of estimaiion uncertainty in the preparation of the financial statements are as follows.. Basis of Accounting The financial statements havè tr*en preparèd in accordance with Accounting and Reporting by Charitiès.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with A¢¢ounting and Reportin9 by Charib"e5'. Staiement of Recomrntrnded Practictr applicablts to ¢hariti&s leffeclive 1 January 20191 preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (Charities SORPIFRS102IISecond Editionll and thè Chariti$$ Act 2011. The Arthur James Paterson Charitsble Trusl meets the definilj.on of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cosl or transaction value unless otherwise stated in the relevant accounting policy notes. The presentation currency of these financial slalements is Pounds Sterling. Golng Conc•rn The Trustee Is of the opinion thal the chafity has adequate resources to Continue In operational gxislenc for the foreseeable future and there are no material unceriainties regarding the Charity's ability to do so. Incom• rèeognltlon All incoming re50urce8 aro indLJ¢Jed in Iho St81emenl of Finanual A¢tivities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income tax recoverablè in relation to investment income is recognised al the time investffEnl income is receivable. Interest on funds held on deposit is included when receivable and the arnount can be rneasured liablY by the charity,. this 15 normally upon nolificalion ol Ihe interest paid or payable by the bank. Dividend5 are recognised once the dividend has been declared and notificalion has been received of tha dividend due. This is norrnally upon notification by ¢yJr investment manager of the dividend yield of the investment portfolio, Expendlture recognStlon Liabilities are recognised as expendilure as stxjn as there is a legal or ¢onslrtJ¢live obligation committing the charity to that expenditu, it is probable that settlement wll be required and the amount ol the oblig81ion can be mea$ure(I reliably. All expenditure is accounted for on an accrua15 basis and has been induded under expense categories that aggregate all costs for allocation to activities. Whore costs ¢annot bg dir8¢tly attributed to particular activities they have been allocated on a basis consis(en( wilh the use of the resources. Grants payable are charged in the year bthen the offer Ts made except in those cases where the offer is condib'onal. such grants being recognised as expenditure when the cor1110$ attaching are fvllilled. Grants offered subject to conditions which have not been met at the year end are noled as a commitment, but not accrued as expenditure. Cash and cash equlvalents Cash and cash eqLJivalents includès cash and short 16mi highly liquid investmènts wth short t8rm maturity of three months or less frorn Ihe date of acquisition or opening of the deposit or similar account.
ARTHUR JAMES PATERSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 rgditors and provi$ions Creditors and provisions are recognised where ihe charity has a present obligation sUltIng from a past event that will probably result In the transfer of funds to 8 third party and the amount due lo settle the obligation can be measured or estimate(I reliably. Creditors and provisions are nomially recognised at their settlement amount after allowing for any trade discounts due. Estlmates and judgement$ Estimates and judgemenls are conlinually evaluatgj and are based on historical experience and other factors. including expectations of future events thal are believed to be reasonable under the circumstances. Although th8s6 estimatès ar6 baséd on thè TrusléÈ's best knoedg& ol thè amount, èvènts or actions, actual results ultimately differ Irom these estimates. The Trustee does not consider there to be any material estimai8s and judgements. Financial in¥tTumonts The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 885ic linanci81 instrumenls. induding trade and other debtors and creditors are inili8lly re¢ogni$ed at Iransocti¢)n valug and subsequently mga$urgd at thfyir $ettlement value. Fund Structur• Income fund5 are unrestricted funds vthich are available for use al the discretion of the Trustee in furtherance ol the gen&r81 objectives of the Charity and which have nol been designated lor other purposes. InStM¥nts Listed investments are induded in th8 financial slalem8nts at mid-markel value at the balance sheet dale. Unlisted invesimenis are in¢Juded in the ba18n¢e sheet 8t Iheir historical cosl less any amounts WTitten off. Inve$tm8nts include ca$h hold lor investmenl purpo. R•all8•d galns and lossès All gains and losses are iaken lo (he Slalemenl of Financial Activities as Ihey arise. Reallsed galns and losses on investments ar& calculated as the difference between sales proceeds and their opening carrylng value or their purchase value il acquired subsequent lo the first day ol the financial year. Unrealised gains and losses are calculated as the drflerence belween thè fair value ai the year ènd and their carrying value. 2 Investmont Incomo 2025 2024 Income from UK Listed Securitigs Interest ReGeived Aru$d In¢ome 60.927.07 1,682.72 1177.141 59,459.01 1,076.35 1741.591 £62.432.65 £59,793.77
ARTHUR JAMES PATERSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 3 Charitsble ktivitigs 2025 2024 Age UK Elizabeth Finn Carg Glenalmond College King's Collegè NSPCC Worcester College 8.IXIO.(XI 8.0.[) 13.000.(XI 26.0(K).(K) 8.000.00 13.000.00 5,940.00 5,940.00 8,910.00 17,820.00 5,940.00 8,910 00 £76.000.CQ £53,460.00 4 Support Co8t8 2025 2024 Gov•rnanc• Costs: Kleinwort Hambros Trust c(panY IUKI Limited Fees Independent Examiner's Fees LEI Fee 8.543.40 2.154.00 72.CQ 8,250.00 2,100.00 £10.769.40 £10,350.00 5 Ralslng Funds 2025 2024 Evelyn Partners Investment Management Fe88 18.093.37 17,347.72 £18.093.37 £17,347.72
ARTHUR JAMES PATERSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 6 Invgstrngnts listed on a recognised Stock Exchang9 2025 2024 Market Value Brought Forward Purchases Disposals 2.045.942.26 150,354.66 (139,837.651 1,863,482.26 186,091.38 197,845.051 2.056.459.27 1,951,728.59 Realised GainllLossl Unrealised G81rVILossl 601.62 102,989.37 110,330.831 104,544.50 Market Value 2,160,050.26 2.045.942.26 C8sh on.. Union Bancaire Privee Bank Account Evelyn Partners 22,684.60 36,689.73 8.153.21 Total Inv•stm•nts £2,168,709.73 £2,105.316.59 7 Cr•dltor8, amount$ falllng du¢ wlthln on• y•ar 202$ 2024 Kleinwort Hambros Trust c(panY IUKI Limited Fees Independent Examiner's Fees 5,052.60 2.154.00 3,942.00 2,100.00 £7,206.60 £6,042.00 Thg grants payabl?= Grants payable brought forward Gr8nts agrèèd in thè yaar Grants paid 13,833.00 53,460.00 167,293.001 76.CW. {76,0.00) Grants payable carried forward 8 Unrestrlcted Funds The inoorne funds of the ¢h8rty will be 4lloc8led by the Trustge toswards ch8rrbes and ch8ri18blg 8clivi11gs, as set out in ihe Trustee's Repori altached lo Ihese financial statements. 9 Relat•d party transactlons and trustees. oxpens•s and r•mun•ratlon Kleinwort Hambros Trust Company (UK) Limiled was Pa £8.543.40 for its services as the o)rporate Trustèè in 202512024.. £8,250.00). There were no other related party transactions during the year. 10-