SARNIA CHARITABLE TRUST UNAUDITED ANNUAL REPORT AND F114AtrKIAL STATEMElItS YEAR ENDED 5 APRIL 225 (HARrrY NO 281417
SARHIA CHARITABLE TRUST Report and Flnandal Statements f(r the year ended 5 Aprfl 2025 Legal a1 admfnlstratfve Informat1( 24 8-11 Ikte5 formlry part of the Frwiciai Statements Sarnla Charltable Tntst was estab114¥j Kter Deed of TAtst dated 25 July 1979, foll(rd by a Awlemental Deed dated 23 September 1980. The registered JKmber ol the Charity 1$ 281417. Trwtees Dr Tlmothy Nlqel Dexter Peet htrs Chrlstkna Vane55a ELlzateth 8enfieEd MIS5 catsIr Peet Trust Adminlstrator LLP, Snovthlll. Blrmlryham, B4 6GA arxl thts ts also the reglstered addrtss of the Trust The Coirtir¥ Ho, 61 Chwiotte Street. St Paul's Sqre. Blrnilryham, B3 1PX Bardays Bank C. Easl Branch, 38 Holley Road, B7mnaM, B16 8NY InVeStrn AMsors Partnen. 14th Ficw, 103 Colmore Rry, Birmingh4m. B3 3A1 Shakespeare Jllartlneau LLP, S(•we. Bfrrn1M, B4 6AA
SARNIA CHARITABLE TRUST Rewt ol the Tnthes for the yew ended 5 Awll 2025 The Trustees preSrt t1r arwi rernrt coveriry the Tr5 actTVitTes for the year erKled 5 April 2ffl5. Legal and administrative in1matIc set out on page 1 fom15 part of this rermxt. Hist•ry. objectlves and actlY1t of the Trust The Tt Vrn5 e51abllshed under a Deed of Trst dated 25 July 1979 foL1ry4Yed by a 5upArntal deed dated 23 Septwnber 1980. The rt>jectlves are 5MarIsed a5 for general charltable wrpose, wlth defined benefi1 area. Summary of the actfvltles uThdeen fff the publit benefft The grants made to chwitie5 in the yEar enable the charltles to meet their (kniettbves and to provtde benefft to the wbtic. The Tru5tee5 have conffmed that have referred to the •ridance in the Charity Commlssfon's generdl 8ufdance on beneflt then redemtng the Trust's alms objettives and In piannlng future actfvltfes and settlng the grdnt mal(in# for the year. The name5 of the TnISt have acted dwlr4 the sear are t on page 1. The Trlee$ ccKthi thelr Tntst buslrss by of teleFth, corrWthe and cwer comm1(ati(S and the Trustees cl51der that rethr Trt Nrtirqs are not rU5red. The Trustees are appolnted ty the Boaril of Trtees. New TnEtees receive coples of ali re(ennt Tntst dorm and of the amrfty Conwn15slon AA)rwlate tralnlrry is wgan15ed for Tru5tee5. The Tn fs ath)Intstered by an athilnlstratorv#) is not a Tnthe lyjt who Is acilry on behatf of Trustees. The objectfves of the Tnst are to wort from the income of the Tntst by donatl(A7s aTrJ gkniptions Charitsble InstftutiOr objectfves at the Tntstees. dIsuetlc. The Tnlee$ have IdentIfd an interest in Guem5ey based charitable trusts and in nature wlldlife cortseryation, and it 15 in these areas that the main sUPPOrt Is glven. Generally the Tnee5 are not Interested In wtonal requests from charltles. The Trustees do make donation5 and The Ttee5 are pieralty not Inttrested kn unsolldteil aPtIonS received for qrants whlch are. therefore. Ilkdy to be Tly are. h(er, corsldered on a Qirterty basis. Lhlevements WKI pwformarKe rf the Trust Durlng year* a thritable grdnt was made to 8 charStles totallhry £34,(NJO. Examlnalfon of the Sdthle of in Note 3 to the flnancial statements will shw that the Tru5tee5 have fulfilled the objecrfves of Tnst bj maklrs grants to dJadtfe5 InvoiNTd In Kotkre and wAdllfe cortservatlon and Guemsey based charftles of 79% in value of total grants made.
SARNIA CHARrrABLE TRUST Rewt of the Trustees (contlnued) for the yw ended 5 Aprfl 2025 These Kcounts for the year ermjed 5 Awil 2025 have been prepared in accordance wlth appilcable law and Un7ted KIn)M Accountlty Standards (Unlted KlrrydMI Generally Accepted ACCti Practice) and comply the Statement of ReComMeIed Prarti ISORP) Acc¢tIa and Reporting by Charities FRSIGI effectlve fr January 2019. The finalal statements are prepared der the htstorfc cost conventlon. There have Thjt be aFry s18nlflcant thare5 the T.5 actlvltles Ix the manner in vthich ttese activftles have The irre for year wa5 £46.228 vthlch w45 a decrease of £1.026 on the prevlous year. Deta7ts of grants made a dbclas cn page 9. cost& 8ovemw cc6ts the Investment athiyrfs fee affloted to £17,296 12024: £16.3291 and thls left a defidt of £5,{2024. SuLL of £15,625) for the year to add to the th5pent amount at the beginnlng of the pr of £106,584. TheTnskees therefore have urfjpent income of £101,516 avallable at the year end. The antfclpaied net IrKome for the >ear endi 5 April 21n6 wlll be £28,1 to which can be added Lnspent income of £101,516 from thich the chariLahie grants and Art)scrlptkns for the year can bp made. Thls Is a total of £129,516. value of tk fTrstrts of the Tn deeased by £62,141 (2024". Increased ty £83,136) of V•tiich £69,429 were uYealT5ed losses 12ry24". £52,030 realISed 8alnsl and E11,501 were reallsed gal 12024: £35,569). The TrL6tees InterKJ to retaln the investments to prOde Trme for grants and not to use fjnYestt revalujtlons for this purpose. The martet value of the Investsnents is reflected In the accounts. Ttre was an cryerall defldt for the year of E62.996 12G24: 5urplu5 of £103,223) V•l)Ich vras deducted frem the re5erYe5 broht foThYard fr[ the preth year. Under Deèj of Trt the Trustees are emp(vred to retaln any Investmerts for as long as therf In their absoiutÈ dis¢retk#i think fit and FWthtandin¥ that ty reason of 5Uth retention the Investments are Th)t 3uffidently dlversllled. The Tru5ts are also wyowered to Ltse the Investments in the same manner as income and thwe is, therefore, rK flxed endrywrnent f and Th) re5trlcied investments. The Investments of tl Trust are Id In the name of Smlth and Wflliarrtsm NInee5 Llmlted vthich ts the appropriate holding company of the QrtertY TnLSt's Thwestment a(fvi50rs reirt in detall on tt perfoffl)an of the InYe5tments. The decrease In the vaLLE ol the Irr•EStrnents ts £61141, a {(reaSe of 5% CfAnpared to the market value at 5 2024. It ts the polxy of Tnsttts, haviThA rry4rd to the spedflc deslwuted fu1 referred to teLtrw, to malntain tt GeaL restriCted wthlch are the free reserves of the Charity, at a level of clrca £10.LXM). s I15 may be tEid In Lyder to IInan apttal In fvrrtrance of the objertlves of Charlty. Free feserve5 at 5 Atxll 21r£5 £118.116. De5knated funds Designated ItThJs are am(Amts that halp been Ixrt astde rArt ol restrlrted fur5 at the dlxretlon of Tntstees for partlcLthr purposes. The desiwatfj( 15 for athiintstration pwpose5 only and dtses not legalty restrlrt the Trustees distretfon to apply fwK15. The Trustees have created tl* followlng desIated fLWKI:
SARNIA CHARITABLE TRUST Repwt of the Tru5t•es (CtInued} l(ff the yèar ended 5 Aprfl 2025 To provkle the income necessary to maintain the TnJ5ts charftable artfvltfes. the charfty requlre5 a sl8nlflcant capltal base and the Tnstee5 have malntained an investment lIcY In order to provide a degree of stability and certainty in Income Iels. In the drcumstance5 the Trustees have created a deslgNited Investment furKI that represeits the listed lrntments held in the tharftys Invest portfolfo. Deta11s of rnovwnts In the are set t)ut page 11 of the financlal statements. The assets refiectsd In the BalwKe Sheet are avaliable and aruate for the Tnstees to fulfll the obllgatlcns of the Qrfty. It ts Intend to fd5 descrfbed abtyle to c(#ttfrnR the (tyctlyes of the Tn. a5 earlier dexrtbed. indefinitely. Thls mears tlt the Trustee5 will be looking to make charltable 8rants of drca £25.Crf)O on an anr1 basls out of the net income received athjiiknnal ants can made t of the cwrent Income balance carried forward of E101,516. Trtee$ haNE Consi the major Tlsk5 to whlch the Ckrfty Is exposed aThJ have rv¥ith¥ed those rlsks and e5tabllshed to manage them. Tlwe are no matertal w£ertainties aLK#rt the Charftys alxllty to cLYItin as a gokng concern. The tnteeS lor the purposes of dwrlty taw seThed duriThJ the year and LV to the date of thls report are set (xrt page 1. The Chafltle5 Art 1011 requrn the trwtees to wepare fknarKlal statements for eath flnandal Y vknlch comply with reguL1t1 that kL The tnEtee5 aye resporsle for keeplng accounting record5 vknkh dlsciose wlth reasonable accuracy at any time the financlal prsition of t Charfty. are also re¥SIble for 5afe8uardirq the assets of the Charlty and for taklry reaXbIt steFts for the preVentTh aTKI detettlort of 1rdj and other irregularitie The Law also sets i*rt the Tnstee¥ respsIbIlItIeS for the preparation and contart of the Tr Annual ReFXrt. DrTMDPeet Trtee Datv. 17/01 l Lolf)
Independent Examiner's Report to the Trustees of the We reFYJrt to the tntstees on exarnknatl(ffb of the xc(yunts of the Sarnla Charftable Trts for the year ervjed 5 11 2Q5. As the charity trustees of the Trust are responsTble for preparat1 of the accounts In accordance the requirements of the Charltles Att 2011 I'the Act'l. We rewt in respect of our eXarnirwt)n of the Trust's aCCfAmts Carri der sectlon 145 of the 2011 Art and in crt our examination we have followed a the alIcable Directtorts gly by the Charfty Comml551on sectfon 14515)Ibl of the Act. We ha C(pleted examInatI(. We cCfiMI that M material matters have come to our attentlon In connethcn wlth the eAam1nation givi us cae to believe that In fflaterfal respett: i. acc14 record5 were Tr)t kept1n re4)ert of the Tryt as reqthred by 5ecknon 130 of the Act; or 3. the accounts do not cornply with the aFplicabte requirements concerning the forni arKI cortert of accounts set wt Charftles (Acclts and Reports} Regulation$ 28 other than any reqLrirement that the acc(xmts gfve a 't fair view whith Is not a matter crAtsfdwed as part of an We have rn cc¢£errts and haNE ce4Y across other matta3 In c(Mertiffl with the examlnation to which attentlon shrthl be dram fn thls rewt in (der to ffiable a pwr thrstandIng of accounts to be rthjthed. Mlchael Dufty Partnersh Limlted Birniingham B3 1PX 27 lei iiol
SARNIA CHARITABLE TRusr Statemwt of financiol Actfvftles for the year ended 5 Aprll 2025 Unrestrtcted fund 2025 Unrestrlcted fund 2024 114COME AND ENtXlWNMEKTS FROIL. 46.203 25 46.228 47.254 Sundry income TOTAL IMCOME 47,254 EXPENDrnxiE ON: Charltable artivitTe5 Grant makiT 15.31x1 2.584 2.781 C(st of yant makl 36,782 17,884 14.514 13,745 TOTAL EXPENDrriiRE 51.296 31,629 INCOIIEIIEXPENDrruRE) (5.068) 15,625 GAINY{LOSSE51 OM INVEsri•EKr ASSEIS Unreallsed galnslllossesl on Investments Realised galytslllosses) cn Investment assets 169.4291 11.501 52,029 35.569 MEf AIOVEMEKf IN FUNDS f62.996 103.223 Total Its browht forwanl 1,451.376 1,348,153 TOTAL F1I4DS CARRIED FORWARD 1.388.380 1,451.376 The Tr)tes m pH¢e$ 8 to 11 fwm part of these acco
SARNIA CHARITABLE TRusr Baiano Sheet as at 5 Awll 2025 2025 2024 FIXED A5SErs Investments 1,270.264 1,332.405 Debtor3 Cash at bank fn hd 3.662 116,247 119.909 3,045 120,555 123.6 uALInEs CredIto aMots faLilng due wtthkn 7 1.793 4,629 118.116 118.971 t.388,380 1,451.376 THE FUNDS OF THE CHARITY Unre5tr1cted funds 1.388.380 1,451,376 oved for issue ty the Board of Tntstees and stw)ed on its behalf DRTNDPE Trustee Date: l?[oiCol6 notes on pa8e$ 8 to 11 fonn part of th aCcots.
SARNIA CHARITABLE TRUST Notes to the FlTrandal Statements the year ended 5 Awll 2025 I. ACCOUIffiNG POUCIES These acco for sear endEd 5 Apt112025 have been prepared In KCOrdan wlth appilcable Giw and UnSted Kfngdom Accountlrq Standards Iunlted K?ngdom Generally Accepted Accountirvd PractTcel and ctynply with the Statement of Rec(4Trmended Prartkn ISORP) A(Cnting and Reportin8 by char7ties FR51 effective from Jary 2£119. The fIn31 statements are prepared Lmder Mstoric cosi conventi. Fund accountts The tharity malntakns Var10 type5 of furmts as follows: Unrestrkted funds DeSIated fuN15 are fuThts which have been put aslde of unrestricted fwK15 a5 frkn: f(wK15 . to wovtde Income necessary to malntsln tTr Trt'S charltabie actlvltles. the charlty require5 a signlficant capital base a1 the Trustees have malntslned an active investment pd1cy In order to Fyovide a degree of stabllity and certalnty In Income levets. In the drcuThstarKe5 the Tnstee5 have created signated InvestrnW7t fund that reprets the govemment stocks and other listed investments held in the tharfty$ trNeSb portfotlo. General unrestrlctod furKb rewe5t unresthcted income. thhkh ts eXp&bie at the dlscretlon of the Tnee5 in the further84e of the objects of the dwrity. fvnds be held In order to ffjnan both rthng (apftal rThl capftal IeSt. l income Is retognT5ed In Statement of Flnandal ktfvitks vknen coTrJltlons for recelpt have been met there ts a reasoTrable a55w¥Ke ol receipt. Where a dalm for rep¥Jm&rt of Inc&Me tax has or wlll be made. Sh income is 8r055ed up for the tsx recoverable. Investment Income Is xccxmted for accnols basis. Dividend5 from qed securftles are aCcd vthen the secwity 15 quoted VA.diY. Grdnts made try the Tnst are charyed a8ain5t income In the>tar in vknich thty are made. Costs of qeneratirv4 fNIS C05t of geat fd5 cst of IrNestment managwrtht fee5. ObErtad aThJ swrt Cl as shovffi In Mte 4. WL¥t c(sts comFThe all costs ass(Kiated wfth the general adMlntstratff of the tn* in S4)rt ol the tharTtable actlvities of the dwity and are alliKated to tharftsble actlvities ald govert c05t5 on basts of tlrne c05t5 knred.
SARNIA CHARITABLE TRUST Motes to the Ftrw)dal Statemwts for th• year ended 5 Aprll 2025 1. ACC(xJpmNG POUCIES (cwtknuedl Gryemw costs CprIse all costs the pthllc accountaNIIty of tharfty arKI Its compllance vlth regLtlatfon and practice (based tlme costs incLredI. These c05t5 frKith costs relatlng to Statutory NkJepetht examlnefs re[ atNI legal f&$. Investments Llsted investrnents are stated at closinK mithjie market prlce Immedlateiy prior to the end of the flnandal sar. Ail movements in value are shown Tn the Statement of Flnandal Actlvltfjes. Income from listed Invests 15 recoBn15ed as Inc¢Jne as recelved toyether with ary assodated recoverable Inc¢)me tsx cy tax credlt. Realised aNI unrealised galns are sh¢Y14n separately In the apwcyrlate Settl of the Statement of Flnancial 2. IXVEsfiAEKf IllCOlAE 2025 2024 43.293 2.910 44,185 3,069 Intffe5t- Gross 46.203 47.254 2025 2024 Ch•rlty No. 1177868 1077089 CH645 279598 291604 208734 Alzhefjmets Research UK GMseY Ald George kny>n WNI ife Trust Norfolk and Norwtth NatlIsts S(Y Norfolk l•llidlife Tnst St Plerre (knBots & F(eSt Beilrlry5 knty Wlidufe TnAt The Eleanor The Forest Churth The TLWI Cr¢h The Vllidllfe Trl Vale PaT15h Church. Guerrts 10.000 500 208123 118461 1128173 CH97 207238 1.8CKJ 2,5rK) 34.000 15.3QJ Ail grants rnade fn the yr were to in51itsion& None were rnade to fndfviduJls12024: none). Detalts of paid in period are avallatle on re¢wt from the register address of the Trust.
SARNIA CHARITABLE TRUST Note5 to the Fhwiclal Statemwts for the year ended 5 Aprfl 2025 4. SLPPORT AND OTHER COSTS apPil0n. tharltabie ment actmty Total 2025 Total 2024 le1t examlY*s f 011 115 6 13.914 600 16.696 2,782 15,507 2.782 14.514 17.296 16,329 Supwt costs are based on tlme costs IncuTred. 5. INVESTMEK15 2025 2024 h4arket wal 6 Aprfl 2024 Additlons Disposals Het reallsed Irrrtbmt galnsloosses) Net urrnllsed 1Thstment galn51liossesJ Ilarket value 5 4>ril 2025 1,320.558 155.851 (157.394) 11.501 (69,429) 1.261.087 1,202.816 120,163 (90.0191 35,569 52,029 1,320.558 Unlnvested cash CatrI 9.177 11,847 1.270.264 1,332,405 Htstorlcai cast at 5 2025 1,100.608 1,090,650 There V•Ere 14 th¥)osais the year net reailsed 4afn of £11,501. There a 58 WNE$tts c[tItUtI the F1 (exdtKlir4 the teSted cash capital): value r7xed interest ar&1 stock. 22 fv)Idlng5 Ewltle51all based In the UK)- 17 hol(hn Equitie5 (overs) . 28 hoidk Unlnve5ted (a3h capftal 407,518 210,863 642,71Y) 9,177 32.1 16.5 1.270,264 10
SARNIA CHARrrABLE TRUST
Notes to the Ffrwidal StatemeTrts for the year ende