THE ANTHONY AND ELIZA8EfH MELLOWS CHARITABLE 5ErrLEMEPtr RÈ ort of the Trustees for the end•d 31 March 2025 The Trustees are pleased ts presenl their teport toJether with the firranciat statements of the Ch8rity for year ended 31 March 2025. structu￿ Governance and Mana ement Gowming DaGument The Charity is a tharEtable trust governed by a Trust Deed dated 13th Octobpr 1980. It is registered bv the Charity Commisshon in the Centrdl Reqi%tsr of Charities under No: 281229. M•thods of recruitmont and appointmBnt New Trust￿ s￿ appointed by the Trusts•s in offio. It is envisaged that firture trustèes wll be appointed on the basis that Ihey have previously gained experience OF the charity sector. idealty as 8 trustee of a charitsble entity. They will also be 8ppjlnt￿J having ￿98rd ¢0 their kno￿ge and experien￿ the fields in which the CharTty makes grants. and of tt*ir rdevant professional. financi￿ or buslness skill$. Arrangements have been made for them to be formajty irKILtcted prior to taking up office. Trustees will be instructed to ensure that they are farniliar svith the Charty Commission's detailed guidance lin partlcular in relation to risk managemen( confiicts of interest and finances). and that they maintain awareness of the latest developments in relation to SLKh guidance through feathng Charity Commission updates. Organisational structure All decisions a￿ directly tsken by the Trustees. Relationships with r•latsd parties and ¢th¢r charities The Charity dces not havg any relationships with related parties or any other charitie5 or organisations. Ob'ectives and Activities The Charity is a grant making Charity, and has a wde N)wer to make 8%wards. At present the trustees support char¢tses in three main aroa5: la) {b) Icl the wfoming 8rt5 IballetloFw*music)". Cu￿ra1 heritage" and the advancement of hedth or the saving of lives. These obiectNes are achieved by making grants to charitabie organlsatlons invofved in the above areas. the grants being made at the discretion oflhe TtLthos. ThE ANTHONY AND ELIZABETH MELLOWS CHARITABLE SErrLEMENT Report of tho Truste•s fortho year ended 31 March 2025 continued The aim of the Charity is lo mako grants lo opprational charities to enable Ihem to further their tharitable work. The Charity does not undertake fundraisinq. The Grants for the performing arts, oJltsJral heritsge and the adv8ncement of health and the saving of lives are made only to nabonal institutlons or other bcwjies of which the Trustees have partiojlar kno￿edge. The Trustees receive appeals from a wide range of charilable organisation5 which are then filtered dovdn to tht)se which are focussed on activities within the objectives ststed above. The TTUStee5 Sre particulady concemed to ensure that national bodies th thch gwts are m&le exemplify the very highest standards of quality in their particular fields to enable their work to flourish and allow Ihe b(xlies lo act as Fkacons for olher organisalion5 In the United Ktngdom and workfvAde. Where less high-profile bodles receive grants. the Tn￿lee$ are keen to ensure that they are specialists wIthin their fields and can provlde help {in the case of those organisations dedicated to the advancement of he3llh and the sawng of lives) dlrecuy to those in need of ￿r serwces. The Trustees hav& not undertaken any spedffc programmes in fvrthernnce of the Charl￿8 ms.The Charfty does not Involve volunteers and does not have a social invesbment policy. The short and long term alms of the Charity are pres¢nty to sustsin and hopefijlly Ir￿reaS￿ the level of lunding for charitable organisations whith wry out activities in fUrther￿ce of the Charity¥ aims. Achievements and rformance During th8 year under review, tho Twstees ¢onlinu8d to pursue th8 objectNes of the Charity and erided to make significant donations of £S00,OOQ to ￿n9S College London, £150,OUO to the Temple Church Trust and £10D.000 to HÉsttsric Royal to support their work These reflect the parts"cular (xjmmitrnent to these organisations which has been demonstratsj by Mrs MelltMS, 8nd her late husband Prof8s50r Anthony mello￿ OBE. The Trustees also made a substsntial amount of smaller donations. Direct Chwitable EX￿nditUre The full list of grants made by Ihe Trustees in support of the perf￿MIng arts. Cultural hèfttage and the advancement of health ry the sawng of lives is shown on pages 15 and 16. Publi¢ Ben•fJt In deciding UP￿ all grants. the Trustees have regard to the Charfty Commission guidance on publi¢ benefiL THE APITHONY AND EUZABETH MELLOWS CHARITABLE SErrLEMENT Rèport of the Trustees forthe end￿ 31 Mar¢h 2025 ontinued) RiskAssessmertt The Trustses have reviewed the risks as identified by Ihem to which the Charity is exposed and are satisfied that arrangements are in place to mitigate those risks. The main risk is a fall in income due to a downtum ￿ the global economy. h￿ftver the Charity does not have a fixed cornmitrnent to support particular charTlies every year vknith would rely on such donations. The Trustees can th¥ef0￿ adjust the amount of grants given to refiect avalable spendable furbjs. The Charitys assèts are held by a respected investrnenl rnanagement Company in a 50gregated dienl acc and are at minimal risk of mis8ppropriation. Disposition of Funds The Trustees are satisfied that the dispo￿￿On of fund5 at 31 March 2025 is suth that the Charity n continue t¢ generate sufficient income and has sufficient cash resources to enable it to ¢ontinue th its charitable obpctives. Lrtanclal Ra￿eW Income During the year the Trustees received a Gfft Aid donation of £300,000 {2024: £150.000} from MTS E A MellowB and addition￿ donations lotalliThJ £666,000. Other income received by the TfLtstees vM5 that derived from it5 investh)ents and the literary rights. R•serYe5 Policy The totsl fvnds of the Charity al the end of the period were £6,313,253 {2024: £6,389,207), of which no funds were restricted or designated, and therefore the total fund$ repr￿n1 the Charitys reserve5. The reserves held are primarily retalned to produce income which is tsn expended in donations. The Trustses have no reserves policy wth regard to income re￿IVed because tsking one ye8rv•th another those monies a￿ expected to be expended wsthin a short time from receipL Investment Obje¢tivos and Porforniance The investrnent d)j8ctives arma p8rfoftn8n(* as at 1 April 2024 were.. to preserve the capital value of the Fund, 8djtssted for inflation as measured by the Corksumer Prices and to maximise the long-term total retUTn of the Fund subject only to the risks associated with a balanced approach to portfolio management The Trustees have requested that the invèstrnent rn3nager5 achieve a result on a total reknm basis ￿lch exceeds that of the weighted average of the ARC Steady Grovth Index. The Trustees have regaTd to a rJ)mposite benchmark wmprised as to 30% MSCI UK IMI LCL. 40¥0 MSCI AC World ex UK 12Vo IBOXX UK Gilts, 5.5Qk 18OXX GBP Corp. 5% MSCI AC Worfd. 5% IBOXX UK Gilts 1ffj and 2.5Vo MSCI WMA CSH EQ 1W ('the QC Charity Benthmark"). THE ANThONY AND ELIZAB￿ MELLOWS CHARITABLE SErrLEMEKr Report of the Trustees for the ar ended 31 March 2025 Continued The F￿d is primarily invested in equities, arKI the Trustees are satisfied that the incijme from invesbnents represents a reasonable rdte of Etum. ThÈ Trustee5 do not have a prescllbed poficy in tems of restricting the areas in which the Fund may be invested. The Trustees rely on the Inve5bnent manager to consider the appropriate level ot shareholder investment in resFeCt of social, environmental or ethical considerations. but has no fomial restricbons in its investment policy. Th8 Trustees ￿gard the overall investynenl pèrformanrR as being a￿eptable. Tru trnent The Trust Deed provides that the Trustees may invest monies as they shall. in thetr absolute discretion. think rrt and accordingly the Tr[￿t Fund is classified by the Trustees as an unrestrict& Fund. Plzns forfuture eriods In receftt years. the Charity has increased $sgnffic8nUy the level of funding lo tharilable entitie$ which undertake activldes ptjrsuant to the objectives set out abave, whlch has brought the funding more In Ilne wth the Income recefved duriro the relevant financiql year. and will continue to do so. Trustees, Res onsibilities in relation to the Financial Statements The law appllc8ble to charibes in England and Wales requi￿$ thè Trustees to prepare financial stsl&nents for each finan(#al year sthich give 8 true an(1 fair view of the Charivs financial aCtiv￿e5 during the year and of its finanoal position at thè gné of th9 year. In preparing those financial ststem¢nts, Ihe Trustsgs are required to.. select suitable arcounting PDlirAes and then appty th¢m ¢onsist¢nlty" observe the methods and princi￿eS in the charities SORP {FRS 1021" make judgements and estimates that are reasonable 8nd pnjdent, stat& whether applicable ac¢ounling stsndards and statements of recommended practice have been followed subject to any departures disdosed and explained in the financial statwnents,. and prepare the fin8n¢ial statements on the goiro Co￿eM basig unless it is inwropriate to esume that the Charity will Continue in business. The Tru5tses are reSpor￿1b1e for kéeping ￿cOunting records which disdose with reasonable arxuracy al any time the financial postion of the Charity and enable them to ensure that the finanaal statements comply wth the Charities A£t 2011. They are also re5Funted for when payable by the Chanty. All other exp￿￿￿ture 9eneraNy terA)gnised when it ts 3CLYued and accounted for gross. (e) Investments In¥estrnents are stated at fair v2lue. R￿liSed and kmrealised gairts Snd losse5 are dk%dosed in the statement of tlnancial ac￿￿85. {fj Financial Instruments The Charrty has eleded to apply Ihe proV￿￿nS of Seclion 11 'BaS￿ FinaTha￿ Irtstruments, and Secbon 12 '0ther Fina￿￿al IrotnJrnents1$3ue5' of FRS 102 to all of its finanrA81 instruments. FinanrA31 instnJrn8nts ar8 recognisgJ in the eornFenls balance theèt the company b￿rneS party lo the ry)ntr8Ctual pro*isions irfthe irY6trumenl. Basic financial a55ets Basic finanthal assets, which include debtors and cash and bank balances, 8re initlally mèasured at transaction price induding transaction Costs and are 5ubsequenUy carried at amortised ￿$t ustng Ihe effective interèst melhod. Finanaal assets d&%sffied 8s receNable within one year a￿ not am￿*s￿d. Basic financial liabilrEies Ba$￿financIal libillties, includSng creditors. a￿ inbti.ally reo)grus8d at tr8nsactK)n pri*. Finan¢Aal liablllbes da3sffied as payable within one YEara￿ not amorb"sed. Judgem8nts and Kqy Source5 of E5￿mation Uneenainty In the application of the accounting pOl￿eS. the Trustee5 2re TequiwJ to make judwents. BStirnat&8 an assurnptions about the catyng amount of assets and liabilitses that 3re not readily apparent frorn other sourc85. The estimates and assouated a55umptions are based on historic818xpertence and otherfaGtors that are Co￿ldered to be rdevant. AcLual results may dlfferfrom these ests"matss. The estimates and underfwng assumptions are reviewed on an ongoing basls. Revisions to acu)untir#J estimates are r&c¥Jrtised in the period in whith the estimate is revised where the r8visv)n affects only that perKJd, or in the peTiod of the rg¥i5ion ané fiJturè perfods wh&e the reyti8ion affects both current and future period5. Investm8rrt Income UK Non UK 2025 2024 Incorne from Qyota Investrnents 117.414 I82,￿3 179.586 13 THE MmlONY AND ELIZABETH MELLOWS CHARTfABLE SETTLEMEKr Notss to ihe FinaneSal Ststèments f¢rtho ar •nd8d 31 Marth 2025 contlnugd Donatlons and L•gacl¢ 2025 2024 (¥rt Aid 6)natioft Igmssl: MTS E A Meibws Other donqtipn¥: Mrs E A Mdlow 3T5.IXIO 686.000 1041.CrfJO 187.500 I87,￿0 Thomson R•ut•rn: Lit8r•ryRlghts 2025 2024 Allocatron of R•sour¢e$ Expended on Mana9em•nt and MminSstratton Manaqernent & minlstratlo 2025 2024 SolleAtorg f 34,740 Auditorf5 Rèmunero*on'. 2024r25 Investment Marwerfs Fees 4,710 37,503 42 86,022 Jjdjto￿S Remunoratlon Th8 auditofs f•munwatton amunts to an audit f8e of £4,710.00 (2024 - £4,290). Thern were rK> Otlw Serv provided. Tru•ts05' Jnd kny Management PerJonnel Rqmun•rotion and Expens The trustees neither rtreN$d fttywaiv￿ any r&mun8ration during the year (2024: £NITI. There are ejjnsidered to be no koy management personnel other than the tr￿te95. and thernfor• the total amunt of emplo￿ >&i¢ffts rÈw8d by key rrAnag8ment parsonnel Is £NII12024-£Nil). No tW5te¢s ar8 ar£ruiffj pensh)n arrangem￿ts (2024- None). The trusw not havè rambursed duriro the yeaf12024-£NII). Staff costs and •mploy4• b•nefits The th8rity hes no grnpknye8S. 14 Not•sto the Flnan¢ial 5tstemeTts forthe fftr ended 31 Marth 2025 eontinued 10. Grarrts Payable 2025 2024 The Perfonning Arts Acaderny ofAnryent m￿1¢ Arrnonicn Consort Boumemouth Syrnphony Orchestra London Symphony Orchestra Royal Northwn College of Musi Roya5 Opera House Foundaoon 2,500 3,000 2.500 5,000 3,000 250,000 261.(Y)O 25,000 30.000 cul￿ra1 Herltage The Bath PreseNadon TnJ5t The Company ofArts Scholars Charitable Trust Foundation of tre Collegeofst G￿)rge Heritage Crafts Heritage Education TNst Historic Royal Pa12ce5 Intemational Guitsr Foundation Museum oflhe Ordw of St. John National Gallery The Que8n EIr￿beth Scholarship Trust Royal Museum5 G￿nWiCh Rwdl Nationd Theatre Str John Soan8 Museurn Temple Ghurch TrLL%t walla￿ Collect￿￿ West Sorner5et RaihvayAssocithn 80.000 10,000 25,000 5.000 1CQ.000 2.C(10 4,000 50.(M)O 15.Crf)a 25,ODO 5.000 150.CI)O 5.000 1.5ts) 78,272 The adVanCe￿￿￿t of health or saving of lives ex. The Leukodfftophy Charity Autisrn Inclusive Brace Dementia Re8earc* Disabled kngling Assooiation Br￿Sh Heart Foun¢Jats"on Children's Cancer & L￿kaer[IIa Group Citsn5 AthcÈ 8u￿U Clowns in thé Sky Conquest Art Crohn's and Colrti5 Dream HolidayBfDr Fibrv$is Respite Douglas 8adar Foundation Dowm's Syndrome Tnmt 3,000 2,500 5,000 1.000 10.OC*) 3.000 5,000 2,000 3,000 5.000 2.000 2,000 s.￿0 3,000 15 THE ANTHONY AND EUIIBETH thIELLOWS GHARITABLE SEmeMEMT Note5 to the Vinanclal St*ments ft>rthe ar ended 31 March 21125 COn￿nUed 2025 2024 Friends of Spafford Childrens Centrts Future Hope UK Gurkha Weware Trust Horatio's Garden Interact Stroke Support Kings College London.. Evallne LonfJon Ghildren's Hospital Kingswood Trust The Leukodystropby Charity Lennox Children's Cancer Limb P¢)wer Listenin9 B(x)ks Lkue Llfts Cancer Lunch On The Run Marie Curi¢ Nursing Servlce Mission of Seafarors MS Soraety Musi¢ Therapy Charity eloma UK NARA greathing Charity Otakar Kraus Music Trust Ospreys Wheelchalr Rugby PearTree School Retina UK Rowans Hospice Roydl BrFbsh Le9￿￿ Induthes Royal Hospital CheLsea Royal Hospital for NeuTrDisabilty Row Marsden Cancer Charity SalvatK)n A￿Y St Christopherfs Hospice St John knbulance Fall SeThi St Ji)hft of Jerusal￿￿ Eye Hospital Group St J￿eph.5 Hospice St Luke's Hospice st Martins-in-th*Fidds Christrnas Appeal St Marbns-in-the-Fi8kts Ivicars Reli￿ Fund) SalvatKJn Army Samaritans Shine Charlty SlarThrowers Suppw)rt Through Court Tessa Jowell Foundation Trdoarfs Trust Whee1th8ir Rugby Club Wilbw Foundation Windgats Centre 10,000 4,50Q 5,000 4,0¢)0 500 3,000 S00.OC 2.500 1,DOO 2,500 5,000 1,500 s,0 10,CKIO 2,000 3,000 1.000 2.000 5,000 2,000 2,¢X)O 2.000 2WO 5.000 5,000 1.000 3,000 10.000 25.000 s.000 2,500 2.500 1.000 5,000 5.000 2.000 7.500 4.000 3.0(KJ 2.0(KJ 5.000 76,OC 679,0(10 Total Grants Awarded 1.123.000 41S272 16 THE AKfHONY ELIiA8ETh MELLOWS CH￿Irr￿LE SErrLE&IEKr Notss to the Flftanclal Stat•ments forthe ar end•d 31 March 2023 eonfln 11. Unrg811g¢d Galnl(Loss) on Re￿lUationS and D15posals of Inv•slrn•ntA5s•ts 2025 2024 Unreali88d GainlL088 on rovaluati at 31 March 2023 Realised ProfiVILoss) on disposa Not Gain {Lofjsl 1845.396} 748,057 97.339 430,800 112.956 $43,756 12. Inbwstrnents 2025 FalrValu8 at 1 April 2￿24 Addlb"ons at cost Trnn5fers in Di$pD58b * Op￿ing book value Net 9ainl(lossl on r•Juation * 31 Morch 2025 5,993,242 1.110,783 1,041.000 11.253.700) 5,520.845 793.533 187.500 1939,4361 845.396 M 31 Marth 2025 6,045.929 5.993.242 HIstr￿Cal ta)st as at 31 March 2025 412211 Atl the irtv•strn•rts held bythe Charfty are Itsted Investments, and the fairvalue c th¢s¢ 1$ dot¢rrnin¢d by ￿ference to the ouot&J prkefor Identical assets In an active rnarket at the Balance Sheet date. 13. D•btors 2025 2024 Othw debtors.. Ir¢come Tax Repayynent Thomson Reuters: Literary Jlghts Cash held by Mrs E A Mellows 75,(XJO 16 200 75216 37AOO 37,$07 Cr•dttors: amourrt¥ falMrt9 due wlthin on• yoar 2025 2024 Othw Creditors.. Grnnt ¢hequ¢s not yet pre8wMod 27.000 19.186 46.186 27.472 17 THE ANTHONY AND ELJZA8ETrI MeLLOWS CIIARrrpBLE sÉmEMENr K¢)tss to thg FIn￿￿141 Statsrn•nts forth Jrendad 31 Mjrth 2025 (continuod 15. Unregtrlcted Funds Gal Ine¢)m• EX￿ndItur0 (LosMs} Ilanc• ¥t31 March 2025 4)rt12024 General Fund 6,389207 1230,407 {1209.0221 (97,339) 8.313253 Allfurbts hdd bythe Charity are unrestrhX8¢5. 10. •l>ffjl$ of NetAwts Among Funds Fund balances at 31 March 2025 ar& represented by. Unr¢strl¢tsd Funds 202S 2024 Invastmarts Net Current assèts 8,045,929 267,324 6.313.253 6,045,Y29 267.324 6,313 5,993,242 395,965 6.389.2 17. Related PartyTransectlon¥ Ouriw the ￿ar. th￿ were no related P*tytsn54c*on$ {2024.' £MII. 18. R•cortclllatlon of n•t mov•rnBnt fund•to rmtcuh ll¢x¥ fmm op•rntln8 a¢llvltl•• 2025 Net movernent In funds Investment *nwrne Quitter ChavM)t Depostt Interest {Gainsl I losses on saleof investments Ilneraase} I decrease ￿n debtors Increas• I Idecr•ase) in creditor8 175,9541 (182,0631 17.32n 97.339 137.709) 18.714 420.775 {1T9.586) (2,8701 (543.7581 17) (738) 13 14 C￿h pro¥ld•d byl (used In) operatlno a￿1¥￿1•5 187.000 306,182 18 THE ANTHONY AND ELIZABEfH MELLOWS CHARrrABLE SETTLEMENT Independert Auditorf$ Report to the Trustees of The Anthony and Ellzabeth Mellows Charitable Settlement for the Year Ending 31 March 2025 OPINION We have audited the financial statements of The Anthory & ElY￿beth Mellows Charitatle Settlement for the year ended 31 March 2025. which comprise the Statement of Financial Actniilies. Statement of Financial Acliviti&% and not&8 to the financial statements. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Aetountirtrj Standards including Financial Reptsrting Standard 102 The Financial Reporbng Standard applK2ble in the UK and Rppublic of Ireland (United KirvJdom Generally Accepted Accounting Pract[￿1. In our opinion the finan¢o1 statements- Give a tnJe and faw view of the state of the chariivs affairs as at 31 March 2025 and of its incoming resources and application of resources. for thè year then ended.. Have been properfy prepared in accordance with United lfjngdwi Generaity AC￿pted A￿UntIn9 PractirK', and Have been prepared In accordance ￿th the requirements ofthe Charlties knt 2011. 8ASIS FOR OPINION We conducted our audit in accordance with Intemational Standards on Auditing {UK} (ISAS (UK}) and appll¢*ble law. Our responsibilities under those standards are fvrther described in ihe AUdit￿S reswnsibilities for the audlt of the financkal ststements section of our report. We are independent of the charty in accordance with the elhscal requirements that are relevant to our audit of the financial sL*ements in the UK, induding the FRC'S Ethical Standards. and the kKovi$ions available for small entities, and we have fulfilled our other ethical responslbilities In accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to pra￿de a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stslements. we have concluded th81 the trustee$, use of the going concem basis of accountiw in the prepardtion of the financial statements is apFryiriate. Based on the work we have performed, we have not idenlified ary material uncertainties relaiing to events or ujnditions that. indrvidually or collectively. may rast slgnrfi￿nt doubt on the charitys abilty to continue as going concem for a period of at leasl ￿1Ve months from when the financial stalemenls are authorised for issue. Our responsibilities and the re5ponsibdities of the trustees wlth respect to going corwi are described in the relevant 8ections of this report. OTHER INFORMATION The trustees are responsible for the ots infomiation. The other information wmprises the information included in the trustees. annual reFrf other than the financtd ststements and our auditols report thereon. Our opinion on the financAal statements does not cover the other information and, &xcept lo the extent olherwlse expliciuy stated in our report, we do not express anyform of as5urarKe conclusion thweon. THE ANThONY AND ELIZABETH MELLOWS CHARITABLE SErrLEMENT Indep8ndent Auditorf5 Report to the Trustees of the Anthony and Elizabeth Mell¢xv5 Charitable Settlement for the Year Endlng 31 March 2025 (continued In connection wth our audit of the finarrid 5tstements. our responsibility is to read the other information and. fft doing so. consider whether the other informaknon is materially inconststent with the financial Statements or our kno￿edge obtained in the audit or otherwise appears to be Materially misstated. If we Identrfy such material inconsistencies or apparent material mi5Statements. we are required to determine whether there is a rnaterial misststement in the financial statements or a material misstalemert of the olher information. If. based on the work we have performed. we condude that there is a materral misstalernent of this other infomation, we are required to report that facL We twe nothing to report in this regard. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEvfioN We have nothing to report in respect of the followng matters in relation to which the Charities {ALxfjunts and Reports) Regulations 2008 require us to report to rf, In our opinion: the Information given in the financial slatemerrts is in￿nsIStent in any Materi￿ respect wth the trustees. report,. or SLrfficient accounting records have not bean kepc or the financial ststements a￿ not in ag￿ment with the accountsng records. or we have not received all the information and explanations we requwe for our audit. RESPONS181LITIES OF TRUSTEES As explained more fully in the Trustees Annual Report, the trustees are responsible for the preparation of the financial stat8ments and for ensuring that they gtve a true and fair view, and for such internal control as the tNslees determine is necessary to enable the preparation of financhql statements thot are free from materiaj misstatemenL whether due to fraud or error. In preparing the financiaT staternenls, the trustees are responsible for assesslng the charitab5e compan￿$ ebility to wnts.nue as a going concern, disdosing, as applir*bie, matters related to going con￿rn and using the going cOr￿ern basis of accounting unless the trustees tntend to cease operatlons. or have re￿$ altern*ive but to do so. AUDrroR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtan reasonable assurance about whether the financial statements as a thole are free from material misstatement. whether due to fraud or error, and lo issue an auditoes reporl that ir¢cludes our opinion. Reasonable assurance is a high level of assurance, but is not a gU￿antee that a audit cOndu￿ed in accordance with ISAS (UK) will always delect a material misstatement when il exists. Misstatements can arise from fraud or error and are ￿nsidered material rf. indNidually or in the aggregate. they could reasonably be expected to infiueno the economlc deCiS￿nS of users taken on the bosL8 of thege financial statements. Irregularities, induding fraud. are instances of non-compliance wth laws and regulations. Tha objectives of our audit are to obtain sufficient appropriate audR evidence regarding com ￿lance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the finantyal statements, to perform audit procedures to help identify lnStsn￿S of non-compliance wslh othw laws antj regulations that may have a material effect on the financial statements, and to respond appropriately to idenlrfied or suspected non-compliance with laws and regulat￿n5 idenlified during the audri. THE ANTHONY AND ELIZABETH MELLOWS CHARITABLE SErrLEMENT Independent Auditorfs Report to th? Trustees of the Anthony and Elizabeth Mellows Charitable settlemer￿Or the Ygar Ending 31 March 2025 continued) In relation to fraud. the obiectlve5 of our audit are to idenlrty and assess the risk of matersal mis8tatement of the financtal statements due to fraud, to obtain sufficient appropriate audit evidence re¥drding the a5sesse(J risks of materrdl misstatement due to fraud through designing and implementing appropriate responses and to respond apprDpriatelyto fraud or suspected frard identlfied during the aud However. tt is the primary responsibilty of management, th the oversight of those charged wllh govemance, to ensure that the Charl￿S operations are Conducted in accordance wth the provisions of laws and regulations and for the prevention and detection of frdud. In idenlifwng arKI assessing risks of m*eri￿ misstatement in respect of irregularities, indu¢Jing fraud, the audit engagement team: obtained an understanding of the nature of the environment. including Segal and regulatory framework that the Charity operates in and how Ihe Charity Is complwng with the leg￿ arvj regulatory framework; inquired of management. and those charged v4ith govemance, about their own idenltfic81ion and assessment of the risks of irregularitie5, indudirvJ ary known aGtual, sUsp￿d or alleged instanL*S of frdud. discussed matters about non-¢0m￿tance with laws and regulations and how fraud might owJr including assessment of how and where th8 financia statements may be susceptible to fraud. As a re5uII of these Pro￿dureS we consider the most 5ignfficant laws armj regulations that have a direct impact on the financial statements are the Charrties Act 2011 and regulalions made under them and FRS 102, the Financial Reporting Standard appluble in the UK and Republic of Ireland. We performed audit pr(￿ureS to review the financral statements for compliance the relevant legislation. A fijrther descripts'on of our responsibilities for the audil of the financial statement5 15 Ic¢ated on the Finan¢ial Reporting Councll's webslte at.. ￿W.fr¢.org.UkIaUd[t0r$[esp0￿S1bll1tteS. Thi5 descriptKJn forms part of our auditorfs report. USE OF AUDIT REPORT This report i8 made solely to the charws trustees, as a bLMtr, in accordance wth sertion 144 of the Charities Act 2011 and regulations made under seotion 154 of that ACL Our audlt work ha5 been undertaken so th* we might state to the charivs trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charity and the charws Iruslees as a body, for our audit worK for thi5 reporL orfor the upinions we have fomied. BURGESS HODGSON AUDIT LIMrrED SENIOR STATiJfoRY AUDITOR Chartered Accountants Camburgh House 27 New Dover Road Canterbury Kent CT13DN Burgess Hodgson Audit Limited is eli9ible for appointment as auditor of the charity by wrtue of its eligibility for appointment as auditor of a ￿rnpanY under section 1212 of the Companies Act 2006