SARNIA CHARITABLE TRUST UNAUDITED ANNUAL REPORT AND F114AtrKIAL STATEMElItS YEAR ENDED 5 APRIL 2￿25 (HARrrY NO 281417 SARHIA CHARITABLE TRUST Report and Flnandal Statements f(r the year ended 5 Aprfl 2025 Legal a￿1 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(r￿d 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 Coi*rtir¥ Ho￿, 61 Chwiotte Street. St Paul's Sq￿re. Blrnilryham, B3 1PX Bardays Bank ￿C. E￿as￿l Branch, 38 Holley Road, B7m￿n￿aM, B16 8NY InVeStrn￿ *AMsors Partnen. 14th Ficw, 103 Colmore Rry, Birmingh4m. B3 3A1 Shakespeare Jllartlneau LLP, S(•we. Bfrrn1￿M, B4 6AA SARNIA CHARITABLE TRUST Rewt ol the Tnthes for the yew ended 5 Awll 2025 The Trustees preS￿rt t￿1r arwi rernrt coveriry the T￿￿r5 actTVitTes for the year erKled 5 April 2ffl5. Legal and administrative in1￿matIc￿ set out on page 1 fom15 part of this rermxt. Hist•ry. objectlves and actlY1t￿ of the Trust The T￿￿t Vrn5 e51abllshed under a Deed of Tr￿st dated 25 July 1979 foL1ry4Yed by a 5upArntal deed dated 23 Septwnber 1980. The rt>jectlves are 5￿MarIsed a5 for general charltable wrpose, wlth ￿ defined benefi￿1 area. Summary of the actfvltles uThde￿en 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 Tr￿lee$ ccKthi thelr Tntst buslr*ss by of teleFth, corrW￿th￿e and cwer comm￿1(ati(￿S and the Trustees cl￿51der that re￿thr Tr￿t N*rtirqs are not rU￿5red. The Trustees are appolnted ty the Boaril of Tr￿tees. 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 Tn￿lee$ have IdentIf￿d 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 Tn￿ee5 are not Interested In wtonal requests from charltles. The Trustees do make donation5 and The T￿￿tee5 are pieralty not Inttrested kn unsolldteil aP￿tIonS received for qrants whlch are. therefore. Ilkdy to be Tly are. h(￿￿er, corsldered on a Qi￿rterty 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 ACC￿￿ti￿ Practice) and comply the Statement of ReComMe￿Ied Prarti￿ ISORP) Acc¢￿tI￿a and Reporting by Charities FRSIGI effectlve fr￿ January 2019. The fina￿lal statements are prepared ￿der the htstorfc cost conventlon. There have Thjt be￿ aFry s18nlflcant thar*e5 ￿ the T￿￿.5 actlvltles Ix the manner in vthich ttese activftles have The i￿r*re 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 afflo￿ted to £17,296 12024: £16.3291 and thls left a defidt of £5,￿{2024. Su￿LL￿ 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 fTr￿str￿ts of the Tn* de￿eased 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 prOd￿e Tr￿me for grants and not to use fjnYest￿t revalujtlons for this purpose. The martet value of the Investsnents is reflected In the accounts. Tt*re was an cryerall defldt for the year of E62.996 12G24: 5urplu5 of £103,223) V•l)Ich vras deducted frem the re5erYe5 bro￿ht foThYard fr[￿ the preth year. Under ￿ Deèj of Tr￿t the Trustees are emp(v￿red to retaln any Investmerts for as long as therf In their absoiutÈ dis¢retk#i think fit and F￿Wthtandin¥ that ty reason of 5Uth retention the Investments are Th)t 3uffidently dlversllled. The Tru5t*s 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 N￿Inee5 Llmlted vthich ts the appropriate holding company of the Q￿rtertY TnLSt's Thwestment a(fvi50rs rei*rt 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 fu￿1 referred to teLtrw, to malntain tt Ge￿aL ￿restriCted wthlch are the free reserves of the Charity, at a level of clrca £10.LXM). s￿ I￿￿15 may be tEid In Lyder to IInan￿ apttal In fvrrt*rance 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 fur￿5 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 desI￿ated fLWKI: SARNIA CHARITABLE TRUST Repwt of the Tru5t•es (C￿tInued} 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 I￿els. In the drcumstance5 the Trustees have created a deslgNited Investment furKI that represeits the listed lrntments held in the tharftys Invest￿ portfolfo. Deta11s of rnovw*nts In the are set t)ut page 11 of the financlal statements. The assets refiectsd In the BalwKe Sheet are avaliable and ar￿uate for the Tnstees to fulfll the obllgatlcns of the Q￿rfty. It ts Intend￿ to f￿d5 descrfbed abtyle to c(#ttfrnR the (tyctlyes of the Tn￿. a5 earlier dexrtbed. indefinitely. Thls mears tl*t the Trustee5 will be looking to make charltable 8rants of drca £25.Crf)O on an anr￿1 basls out of the net income received athjiiknnal ￿ants can ￿ made ￿t of the cwrent Income balance carried forward of E101,516. Tr￿tee$ 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 tn￿teeS 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 resporsl￿e 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 reaX￿bIt steFts for the preVentTh￿ aTKI detettlort of 1rd￿j and other irregularitie The Law also sets i*rt the Tnstee¥ resp￿sIbIlItIeS for the preparation and contart of the Tr￿￿ Annual ReFXrt. DrTMDPeet Tr￿tee 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 c*rt our examination we have followed a the a￿lIcable Directtorts gly￿ by the Charfty Comml551on sectfon 14515)Ibl of the Act. We ha￿ C(￿pleted examInatI(￿. We cC￿fiMI that M material matters have come to our attentlon In connethcn wlth the eAam1nation givi￿ us ca￿e to believe that In fflaterfal respett: i. acc￿￿1￿4 record5 were Tr)t kept1n re4)ert of the Try￿t 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 (Acc￿lts and Reports} Regulation$ 2￿8 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 dra*m 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 I￿￿ts 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 h￿d 3.662 116,247 119.909 3,045 120,555 123.6 uA￿LInEs CredIto￿ aMo￿ts 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?[oiC*ol6 notes on pa8e$ 8 to 11 fonn part of th* aCco￿ts. 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(C￿nting and Reportin8 by char7ties FR51￿ effective from Ja￿ry 2£119. The fIn￿31 statements are prepared Lmder Mstoric cosi conventi￿. Fund accountts The tharity malntakns Var10￿ type5 of furmts as follows: Unrestrkted funds DeSI￿ated fuN15 are fuThts which have been put aslde of unrestricted fwK15 a5 frkn: f(wK15 . to wovtde Income necessary to malntsln tTr* Tr￿t'S charltabie actlvltles. the charlty require5 a signlficant capital base a￿1 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 repre￿ts the govemment stocks and other listed investments held in the tharfty$ trNeSb￿ portfotlo. General unrestrlctod furKb rewe5￿t unresthcted income. th*hkh ts eXp&￿bie at the dlscretlon of the Tn￿ee5 in the further84￿e of the objects of the dwrity. fvnds be held In order to ffjnan￿ both rthng (apftal rThl capftal I￿eSt￿. 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. S￿h income is 8r055ed up for the tsx recoverable. Investment Income Is xccxmted for accnols basis. Dividend5 from q￿￿ed securftles are aCc￿￿d 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 f￿NIS C05t of ge￿at￿￿ f￿d5 c￿st of IrNestment managwrtht fee5. ObErt￿ad 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 C￿prIse all costs the pthllc accountaNIIty of ￿ tharfty arKI Its compllance vlth regLtlatfon and practice (based ￿ tlme costs incL￿redI. These c05t5 frKith costs relatlng to Statutory NkJepetht examlnefs re[￿ atNI legal f&$. Investments Llsted investrnents are stated at closinK mithjie market prlce Immedlateiy prior to the end of the flnandal s*ar. Ail movements in value are shown Tn the Statement of Flnandal Actlvltfjes. Income from listed Invests￿ 15 recoBn15ed as Inc¢Jne as recelved toyether with ary assodated recoverable Inc¢)me tsx cy tax credlt. Realised aNI unrealised galns are sh¢Y14n separately In the apwcyrlate Settl￿ of the Statement of Flnancial 2. IXVEsfiAEKf IllCOlAE 2025 2024 43.293 2.910 44,185 3,069 Intffe5t- Gross 46.203 47.254 2025 2024 Ch•rlty No. 1177868 1077089 CH645 279598 291604 208734 Alzhefjmets Research UK G￿MseY Ald George kny>n WNI ife Trust Norfolk and Norwtth Nat￿lIsts S(￿Y Norfolk l•llidlife Tnst St Plerre (knBots & F(￿eSt Beilrlry5 knty Wlidufe TnAt The Eleanor The Forest Churth The TLWI C￿r¢h The Vllidllfe Tr￿l Vale PaT15h Church. Guerrts 10.000 500 208123 11846￿1 1128173 CH97 207238 1.8CKJ 2,5rK) 34.000 15.3QJ Ail grants rnade fn the y￿r were to in51its*ion& None were rnade to fndfviduJls12024: none). Detalts of paid in period are avallatle on re¢wt from the register￿ address of the Trust. SARNIA CHARITABLE TRUST Note5 to the Fhwiclal Statemwts for the year ended 5 Aprfl 2025 4. SLPPORT AND OTHER COSTS apP￿il0n. tharltabie ment actmty Total 2025 Total 2024 ￿le￿￿1t examlY*s f￿ 011 115 6￿ 13.914 600 16.696 2,782 15,507 2.782 14.514 17.296 16,329 Supwt costs are based on tlme costs IncuTred. 5. INVESTMEK15 2025 2024 h4arket wal￿ 6 Aprfl 2024 Additlons Disposals Het reallsed Irrrtbmt galnsloosses) Net urrnllsed 1Th￿stment galn51liossesJ Ilarket value 5 4>ril 2025 1,320.558 155.851 (157.394) 11.501 (69,429) 1.261.087 1,202.816 120,163 (90.0191 35,569 52,029 1,320.558 Unlnvested cash Ca￿trI 9.177 11,847 1.270.264 1,332,405 Htstorlcai cast at 5 2025 1,100.608 1,090,650 There V•Ere 14 th¥)osais the year net reailsed 4afn of £11,501. There a￿ 58 WNE$t￿ts c[￿￿tItUtI￿ the F￿1 (exdtKlir4 the ￿t￿eSted 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 enderll 2024 Expwdlture galns & Balance 5 Aprll 2025 Inc Transfers Inve5tmwt General fw 1,332,405 118,971 162.141) 62,141 1,270,264 118.116 46.228 (109,2241 Tiitsl umeS￿ 1,451,376 46,228 1109.224) 1.388,380 Trartsfers were made tet¥￿1 the fmiestment and the general In order to equate the Investment fund ValL￿ wlth the value of the I)vestm￿t pjrtlolio and amounts IrKurred In respect of the general fund ffered tty the in¥e5tinent fwKI. 9. TAXATION Samia CharitaNe Trust 15 a registered charity arKI, a5 swh. is exempt from tax on Income arKI ¥alns falllng ithln sertlon 532 ITA2CQ7 or Sectl(K1 256 TCGA92 to the extent that they are applied to Its charftable objectfves. io. RELATED pAKllES Aggrepte amount of donatlor4 With￿ conditi￿& recefved from related partles amounted to £Nil {2024: £￿111. 11. coi¥fKwNG PARrf Throu8hcArt awTWrt aThJ pr￿l￿ts p*fj(Kl, the charity vrns rnt wder the control of ary SI￿le Indmdual or entfty. 11