Charlty reglstratlon numbgr 283462 (England and Wales) MRS SUSANNA PEAKE CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
MRS SUSANNA PEAKE CHARITABLE TRUST CONTENTS Page Legal and administrative inforrnation Trustees. rep)rt Statement of trustees, responsibilities Slalemenl ol financial aclwilies Slalemenl of financial position 10 Slalemenl of cash flows 11 Notes to the financial statements 12-20 Investment schedule 21-26
MRS SUSANNA PEAKE CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs Susann2 Peake Mrs Katharine Loyd Chailty number 283462 Principal office IAddres$ for appeals 30 Gresham Street London EC2V 7QN Audltr)rs Perrys Audrt Lirniled Churchdown Chambers Bordyke Tonbridge TN9 1NR Bankers Lloyds Bank PIC High Street Morelon-in-marsh Gloucestershire GL56 OAY Solicitors Currey & Co 33 Queen Anne Street London W1G 9HY Investment advisors Sarasin and Partnets LLP Juxon House 100 Sl Paul's Chur¢hyard London EC4M 8BU
MRS SUSANNA PEAKE CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their report and accounts for the year ended 5 April 2024. The accounts have iEen prepared In acwrdance wrth the accounting policies set out ID note 1 of the accounts and cornply with the Charities Act 2011 and Accour)ting and Reporting by Charities". Statement of Rec0rnmendj Practice applicable to charrties prepariro their accounts in ac£ordance wth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 The accounts also comply wrth the Charity's governing document. Objective5 and activities The trustees hold unrestricted funds from which they make donations for such charitable bryjies or instrtutions at such limes and in such rnanner as the Iruslees may, In their absolute discretion, think fit. Other than the operation ol the investment portrolio no other fund raBing activty is undertaken to support the work ol the charity. The aims ol the charity are to apy, at the discretion of the trustees, grants lo organisations in furtheran of the charty's objectives The charity is essentially investment based and the trustees consider the funds held as defined as capital and income and hold those funds wth a view to distributing the incorne gener£twJ from the investrnenl portfolio and, as far as may be necessary, the capital for or lowaids the grants the trustees have decided lo rnake Statement of compliance with Charity Commission guidance The Iruslees ts)nfirm that they have paid due regard to the guidance contained in the Charty Commission's general guidance on public benefit when reviewinq the Irusl's aims and objectives, and in planning future aclwilies and setting donations to be made in the following year The trustees support a nLJmber ol charitable organisation$. as shown wthin note 17 to the financial statements The Iruslees are satisfied that the information provided in the report and accounts meets the public beneff( reportiNJ requirements. Charitable activities The trust is solely involved in grant maknng. and as such. the activities rt undertakes pertain to rai8ing and maintaining funds lor the application ol ts chosen grants. Grant making policy The trustees meet on an ad hoc basis lo review applications lor funding, and a full review is undertaken annually when the financial statements are available. Only successful applicants are notified ol the trustees, decision. Certain chaiilies are supported regularly, although no comrnilrnenl is given for the continued or future suptx)rt of such charilatle organisalions Achlevements and perlormanee During the year the trust generated sufficient income from the investments held to apply twdrds its chosen grants for the year. During the year under review, the Trustees resolved lo make 53 donations lotalling £274,7001£169,500 in 20231, these are detailed in note 17 01 these accounts. A bieakdown of the categories and the types of charities that ale supported 15 shown in note 6 01 these financial stalemenls.
MRS SUSANNA PEAKE CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Investment performance For the financial year ended S April 2024, the Trust produced a return after lees of 8.7% versus the c£Jmposite benchmark return of 15. As at 5 April 2024 the portfolio's allocations were as follows. 14.9% in fixed income, 72.8010 in global equf(ies, 2.8% in property. 6.3% In alternative assets and 3.2.10 In liquid assets. The forecast income was standing * £218,727 for a yield 012 40 The sliong finish lo 2023 continued Into the first quartei of 2024, resulting In further good progress for the portrolio. 11 has been pleasing to see some broadening ol the equrty market rally across sectors and regions, although returns are still being dominated by US technology. Fortunately, the Trust's portfolio has good exposure in this area, including the leading drThiers of the Al phenomenon, bul rt remains a challenge lo keep pace with the Sha of this rally while still maintaining suitable diverslication in a range of good quality companies from other sectors. Atthough greatly reduced from its peak ol over 9% in 2022, US inflation is lernporarily stuck in a range of 3% - 4%. The latest reading lor April 013.4Qh was in line Milh expectations, bul the prior CPI prints had been slightly hher than forecast, pushiw back the likely first cul in US rates towards the end 012024. In the UK and Europe, headline inflation continues lo fall back I0rdS largel levels and we expect UK and European central banks to announce their first interest rale cuts over the summer. In terms of contribution to perfoirnance ovei the 12 months to 5 April, the porfolio's equities were the rnain driver th notable outperformers including Broadcom, Microsoft, and Arn&on. The launch of ChatGPT by OpenAI in late 2022 was the calalysl for a surge ol investment into Artificial Intelligence infrastructure, wrth Broadcom a well-placed beneficiary gwen rts strong p)srtion in NebNorking and Custom ASICS. Microsoft and Amazon have increased capital expenditure as a result of innovation breakthroughs in Generatwe Al, but rnuch of their strong share price performance was down lo recovering lundamenlals., growth has reacceleraled in both companies, cloud compulirKJ divisions. Detractors during the period included the Asian life assurance and investment businesses, AIA and Prudential. China in particular has suffered a severe economic downturn, hitting market confidence in companies generating signifi¢8nl revenues there. This has been frustrating given the robust operating performance of both businesses. In temis of strategic asset allwalion for the Charity, the investment managers c¥)ntinue to bdieve the portfolio's equity exKM)sure Is best plaeed to deliver inflation protection over the long-term. For the year to 5 April 2024. equty exposure has Increased from 64.5% to 72 8%, reflecting the investment managers view to move overweight In late 2023. The portfolio has increased fixed incorne exposure from 8.3% to 14.90A The portfolio's bonds are generating a 4.9.10 yield-lo-maturily thanks to an oveTweighl p05ilion in corpoiale bonds relative to gi118," th18 repiesenls a real return ahead of Inflation for the first time in many years. The increases in equities and fixed income exposure have been funded from af(ernatives, where the investment manager has reduced exposure to reneable energy, infrastructure and caibon. The peiiod under review started wlh an overweight allocation to alternative assets, which Wds the principal driver of the portfolio's relative under-performance while investments producing a premium income struggled against the backdrop ol sharp interest rate rises. However, the allocation to alternatives has Sin been reduced signilicanlly to a smaller selection of high convidion names. Financial review Total incoming resources were £261,6261£239.072 in 20231, rith £284.5331£171,945 in 20231 being committed to eharrtable activrties ol vthieh 29.8331£2,445 in 20231 relates to support and governance costs. Costs ol fundraising amounted to £34,8271£34,895 in 20231. There was an unrealised profit of £607.384 (loss of £785.579 in 20231 on investments and in addition a realised loss of £167,1451loss of £74,159 in 20231 resulting In net inflow of funds of £382,505 loutflow of £827,506 in 20231. Reserves The Trustees have a balanced investment policy and normally only distribute income to fund their donations on an annual basis. Caprtal is usually retained In order lo maintain the fund and allow for growth. The balance held on unrestricted reseeS as at 5 April 2024 was £9,409,555.
MRS SUSANNA PEAKE CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 InVtment pollcy As there are no specific restrictions of investment powers under the governing deed, the trustees have full drscretion over the inveslrnents held. The Iruslees have delegated their Investment powers lo S8r8sin and Partners LLP to have full discretionary day to day control of the Investments. The trustees have reviewed current policies and do not feel any amendments are necessary. Assets have been acquired and disposed of in accordan with the powers available lo the Iiuslees. Risks Aside from Inherent market or systemic risk to leh the trust's Investments are exposed. the portfolio is well diversified at a stock level, geographically and by industrial sedor, and also across a range ol asset dasses. The trustees recognise the risk associated with Investment in mainstream financial markets and accept this riqk in return lor the prospect ol greater returns over the longer term. The trustees are satisfied that systems are in place to rnitate exrx6ure to major risks and continue to review the adequacy of the systems In pla. Plans lor future pei5od$ The Iruslees continue lo review grant application requests and also lo research suitable projects to which they can make grants in furtherance of their charitae objectives. Structure. governan and fflanagement The Mrs Susanna Peake Charitable Trust was created by a charitable trust deed dated 10th June 1981. The trustee$ are lo hold the capital ana income of the trust fund upon trust to apply the income, and as far as may be necessary. the caprtal lor and towards such charitable objects and purposes and to make donations lo such eharrtable bodies or institutions In the United Kingdom or any other part of the world at such times and in such manner as the trustees may in their absolute di8cretion think fit. The Trustees who served during the year and were also in office at the date of signing the financial statements were.. Mrs Susanna Peake Mrs Katharine Loyd Recruitment and appointment of trustees The settlor, M18 Susanna Peake, has the power during hei lrfetime to appoint new additional tiustees as she feels fil and thereafter the then current Iruslees. Trustees wll be selected based on their connection vth the current trustees in accordance with their skills, experience and understandin9 01 the oblwations imposed on such an appoinlmenl. The Charity's other advisors are noted on page 1. Decislon making structure The Trustees. who receive no remuneration. meet on a frequent. ad hoc basB to corBider applications for funding and a full review is made at an Annual Meeting when the financial statements are available. Investment perf0[rnan and Inwme levels ale rnoniloied half yeaily al meetings with the inveslrnent rnanagets. Inductlon and tralnlng of trusteè$ Incoming Iruslees are lo be made aware ol their responsibilrties and the Irusl's objectives from the existing Iruslees and their other 0[e$s1onal advtsors al the dale ol their appointment. The Iruslees are also lo be kept up lo dale on relevant matters by their professional advisors. TheAccounts The trustees are satisfied wth the financial posrtion of the Charity and confirm that they have adequate assets available lo fulfil their obligations and the accounts wmply with current slaluloiy requirernents
MRS SUSANNA PEAKE CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Approved by the board of Iruslees and signed on behalf by.. Mrs Susanna Peake Trustee Mrs Katharine Loyd Trustee 6 March 2025
MRS SUSANNA PEAKE CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The trustees are responsible lor preparing the Trustees. Rewrt and the financial statements in accordance wrth applicable law and Unf(ed Kingdom Accounting Standards Iuniled Kingdom Generally Awepted AoUntIng Pra¢ti¢el. The law appliable to charrties in England and WaS requires the trustees to prepare financial statements lor each rin8n¢ial year which give 8 true and fair view of the sle of affairs of the Charity 8nd of the Incoming resources and application of resources of the Charity for that year In piepaiiw these financial stements, the trustees are required lo". select surtable accounting policies and then apply them cor6istently", observe the rnelhods and principles in the Charities SORP., make iudgernents and eslirnales that are reasonable and prudent., slate whether applicable accounting standards have been followed, subj'ect to any rnaterial departures disclosj and explained in the financial stalemenls., and prepaie the financial statements on the going concein basis unless (t is inappropriate lo presume that the charity will ¢ontinue in operation. The trustees are responsible for keeping sufficient accounting rewrds that disclose reasonable accuracy al any time the financial position ol the Charity and enable them to ensure that the financial statements comply with the Charrties Act 2011, the Charty (Accounts and Reportsl Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities.
MRS SUSANNA PEAKE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MRS SUSANNA PEAKE CHARITABLE TRUST Oplnlon We have audited the financial Statements of Mrs Susanna Peake Charitable Trust (the 'Charity'l for the year ended 5 April 2024 which comprise the statement of financial activrties, the stalernent of financial position, the statement of cash flows and notes to the financial $121ernenls, Including significant accounting policies. The financial reporting framework that has been applied In their preparation Is applicable law and United Kingdom Accounting Standards. including Financial RetK)rting Standard 102 The Financial Reporting Standard appIable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our op1nion, the financial slalernenls. give a true and fair view ol the state of the charity's affairs as at 5 Awil 2024 and of ts incoming resources and application of resources. for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting practi.. and have been preFored in accordance with the Charities Act 2011. Basis for opinion We conducted our audit In aecordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described In the Auditors responsibilities for the audit or the financial stal&m&nls section of our report We are independent ol the Charity in accordance wrth the ethical reqLJirements that are relevant to our audrt of the financial statements In the UK. in¢lu4iNJ the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance wlh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In aLKliling the financial ststements, we have concluded th81 the Iruslees, use of the going ¢on¢ern basis of accounting in the preparation ol the financial slalemenls is appropriate. Based on the work we have performed. we have not Identffied any rnaleiial uncertainties relating lo events or conditions that, indrIdUallY or o)Ilectively, may cast svJnifinI doubt on the Charity's ability lo continue as a going conrn lor a period of at least twelve months from when the financial statements are authorised lor Issue. Our responsibilrties and the responsibilities of the trustees wth respect to going concem are described in the relevant sections of this reFOrt. Other information The other inforrnalion comprises the information included in the annual report other than the financial slalements and our auditor's reKM)rt Ihereon. The Iruslees are responsible loi the other Inlormation o)nlained within the annual report. Our opinion on the finanaal stalernents does not cover the other information and we do not express any form ol assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consmder ether the other information is materially inconsistent with the financial statements or our thowled9e obtained in the course of the audit. or otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent rnalerial misslatemenls, we are required lo determine whether this gives rise to a material misslalemenl in the financial statements themselves. If. based on the work we have performed. we conclude that there is a rnaterial rnisstatement ol this other inforrnation, we are required to report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothin9 to report in respect ol the follo9 matters in relation to which the Charities IAccounts and Reports) Regulations 2008 requires us to reKM)rt to you if. In our opinion. the inlormation gwen in the financial ststements Is inconsistent in any material respect wth the Iruslees. rewrt,. or sufficient accounting records have not been kept," or the financial statements are not In agreement wrth the accounting iecords," or we have not received all the information and explanations we iequiie lor OLJr audrt
MRS SUSANNA PEAKE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MRS SUSANNA PEAKE CHARITABLE TRUST Responslbllltles ol trustees As explained more lully In the statement of trustees. responsibilities, the trustees are resp)nsible for the preparation ol the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary lo enable the prepaialion of financial slalemenls that ale free fiom material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible lor assessing the Charity's ability lo continue as a going cOnrn, disclosing, as applicable, matters related lo goiry concern and using the going wncern basis of accounting unless the trustees either intend to cease operations. or have no realistic allernalive bul lo do so. Auditor's responsibilitie5 for the audit of the financial statements We have been apwinted as auditor under section 144 of the Charities Act 2011 and report in accordance wrth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about ether the financial statements as a whole are free from rnalerial misslalemenl, whether due lo fraud or error, and lo issue an audrtorfs report that includes our opinion. Reasonable assurance is a high level ol assuran but i8 not a guarantee that an audit conducted in accordance ith ISAS IUKI will always deteet a material misstatement en it exists Misstatements arise from fraud or error and are considered rllaterial il, Individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these linancial slalements. The extent to which our proeedLJres are Capable of detecting irregularities. Including fraud, is detailed below. A further description of our responsit4'1ities is available on the Financial Reporting Council's websrte al. https."Il www.frc.org ukjauditorsresponsibilities. This description forms part of our auditors reporL This rewrt is made solely to the charity's trustees. as a bcdy. in accordance with Part 4 01 the Charrties IAccounts and Rep)rtsl Regulations 2008. Our audit work has been undertaken so that we might slate to the charrty's Iruslees those matters we are required lo stale to them in an 8uditor's report 2nd for no other purpose To the lullesl extent permitted by law, we do not accept or assume responsibilrty lo anyone other than the charity and the charity's Iruslees as a bc%Jy, for our audit work, lor this report, or lor the opinions we have formed. Stèphèn Hala (Senlor Statutory Audltoil Perrys Audit Limited Churchdown Chambers Bordyke Tonbridge TN91NR 14 March 2025 Chartered Accountants ststutory Audltor Churchd¢ywn Chambers Bordyke Tonbridge Kent TN9 1NR
MRS SUSANNA PEAKE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Unrestricted funds funds 2024 2023 Notes Income Investments 261,626 239,072 Total income 261,626 239,072 Expenditure Raising funds Charitable activrties 34,827 284,533 34.895 171,945 Total resources expended 319,360 206,840 Nel lexpenditurel l income before investment gains 157.7341 32,232 Net gains / Ilossesl on investrnents 14 440,239 1859.7381 Net movement in funds 382,505 1827.5C61 Fund balances at 6 Apiil 2023 9.027.050 9.854,556 Fund balances at 5 Aprll 2024 9,409,555 9.027,050 The statement of financial activities includes all gains ar losses recc4Jnised in the year. All income and expenditure derive from continuing activities.
MRS SUSANNA PEAKE CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION AS AT 5 APRIL 2024 2024 2023 Notes Fixed assets Investments 10 8,975,555 8,655,310 Current assets Debtors Cash al bank and in hand 12 366,681 362.499 4,203 380,004 729,180 384,207 Credltors.. amounts falllng due wlthln one year 13 1295.1801 112.4671 Net current assets 434,000 371,740 Totsl assets less current liabilities 9,409,555 9,027,050 Income funds Unrestricted funds 9,409,555 9,027,050 9,409,555 9,027,050 The financial slalements were approved by the board of Trustees and authorised for issue on 6 March 2025 and are si9ned on ts behalf by.. Mrs Susanna Peake Trustee 10-
MRS SUSANNA PEAKE CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Notes Cash flows from operating activitie5 Cash at60rbed by operations 15 131 S.1661 1207.8401 Investing activitie5 Purchase ol Investmen15 Pioceeds on disposal of investments Investment income reiVed 14,101.6401 4,164,097 261,626 12,134.9361 2.111,289 241,811 Nèt cash gènarated from Invèstlng activities 324,083 218,164 Nel Increase In cash and cash equlvalents 8,917 10,324 Cash and cash equwalents at beginning ol year 457,962 447,638 Cash and cash equivalents at end of year 16 466,879 457,962
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollclos Charity information Mrs Susanna Peake Chaiilable Trust is a an unicoiporated charity cleated by trust deed regisleied 1th the Charity Commission in EnglaThJ and Wales under charity number 283462. 1.1 Accounting convention The financial statements have been prepared in accordance wth the Charity's trust deed, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities". Slalemenl of Recornrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" (effective 1 January 20191. The Charity is a Public Benerrt Enlily as defined by FRS 102. 1.2 Golng concèrn The Trustees conskler that there are no rnaterial uncertainties atr*)ut the Charity's abilty to continue as going concern. The review ol our financial Fosilion, reserves levels and future plans gives the Trustees confidence the Charity remains a going concern lor the foreseeable future. 1.3 Charitable funds Unrestricted funds are available lor use al the discretion of the trustees in furtherance ol their charitable objectives. 1.4 Incoming resources Investment Income is accounted for on an accruals basis in the period to which it relates. 1.5 Debtors Debtors are receivable at their expected settlement arnount 1.6 Cash and cash equivalents Cash al bank and cash In hand Includes cash and short term highly liquid investments with a Short maturity of three months or less from the date ol acquisition or opening of the deposit or similar account. 1.7 Creditors Credilois ale recognised where the charity has a piesenl obligation resutting from a past event that will probably resutt in the transfer of funds to a third party and the amount due lo settle the obligation can rne8sured or eslimaled reliably. Credrtors are normally ie¢ognised at their settlement amount after allowng for any discounts due 1.8 Resources expended Management and adminislralion costs comprBe those costs incurred in running the Charity. They have been apportioned on the basis of time spent between charitable actrrfities. cost ol raising funds and governan costs. Governan costs consist ol those costs associated with the overall runniry ol the Charity and meetin9 stslulory and regulatory requirements. Grants are included in the financial staternents when approved by the Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued Grants offered that are subject to conditions that have not been mel al the year end are noted as a commitment bul not accrued as expenditure. 12-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) 1.9 Financlal Instruments Basic fifjancial assets. which include tiade and olhei re1Vable5 and LZSh and bank balances, are inth.ally rneasured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the 3rrangement eonstrtutes a financirKJ transaetion. where the Iransactlon 18 measured al the present value of the future receipts discounted at a maiket rale ol interest. Other financial assets. including investments In equrty Instruments which are not subsidiaries. associates or joint ventures. are initially measured at lair value. which is normally the transaction price Such assets are subsequently carried at lair value and the changes In fair value are reccvJnised in net Incomellexpenditurel. except that Investments in equity instruments that are not publicly traded and whose fair values cannot be rne2sured reliably are measured al cost less Impairment. The trust does not aquire put options, derivatives or other complex financial instruments. 1.10 Investments Fixed assets Investments represent listed investments which are slated al market valuation, there rnarket value represents the mid market value on the last Ir8ding day before the year end. Any unrealised or realised gains arisng from investments are accounted for in the Statement of Financial Activrties. Crltl¢al a¢countOng estlmates and Judgements In the appli(stion of the Charity'$ accounting Fx)li¢ies. the trustees are required to make judgements, estimates and assumptions about the carrying amount ol assets and liabilities that are not readily apparent trom other Sour$. The estimates and associated assumptions are b8sed on historical experien¢e and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate Is revised vthere the revision affects only that period, or in the period ol the revision and future periods where the revision affects both current and future Feriods. 13-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Incomè arlslng from Investments 2024 2023 In¢ome from li%led investments Fixed interest Unil trust interest REITS 99,303 35,614 55,419 13,468 73.739 11,740 81,678 5,767 12.7391 5.045 92,837 23,589 Foreign income Interest receivable Unrecoverable lax Accrued interest 5,238 261,628 239,072 Raising funds 2024 2023 Investment management fee 34,827 34,895 34,827 34,895 Charitable activities 2024 2023 Grant funding lsee note 171 Governance costs (see note 71 274.700 9,833 169,500 2,445 284,533 171,945 14
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Grants payable 2024 2023 Grants lo institutions.. Education and Children Local Charitable Organisations Medical and Hospices Elderly and Disabled Inlemalional General Charities Animal and Environment Arrned Forces 31,050 58,500 57,000 23,000 ,000 73,000 7,150 3,000 20,000 38,0(M) 30,0(M) 23,000 21,000 34,5(M) 3,000 274,700 169,500 Support costs Support Governance costs costs 2024Support costs Governance costs 2023 LEI fee Independent examiner's fee Audit fees Accountancy 33 33 45 45 2,400 2,4 7,800 2,000 7.800 2,000 9,833 9,833 2,445 2,445 Trustees remuneratlon and benellts, related partles and confllcts ol Interest None ol the trustees lor any persons connected wth them) reiVed any tenefits. remuneration or reimbursed expenses during the year, or the previous year. None ol the trustees lor any persons connected wth thernl had any conflicts of interest. None ol the trustees lor any persons connected with theml had any related party transacb'ons to disclose. No further dis¢losures are required for the year Employees There were no employees during the year. or the previous year. 15-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 10 Fixed asset investments Listed investments Cash in rtlollo Total Valuation At 6 April 2023 Addrtions Valuation changes Realised Ilossesl Cash available lo invest 8,577,352 4.374,92C 607,384 1187.14SI 14.521.336) 77,958 8,655,310 4,374,920 607,384 1167.1451 14.494,9141 26,422 Al 5 April 2024 8,871,175 104,380 8,975,555 Al 5 April 2023 8,577,352 77,958 8,655,310 Investments representing more than 5% 01 the portrolios totsl market value.. Investment Units Market Valu8 % of Total Market Value Sarasin Endowment A Fund JP Morgan Arneiican Inveslrllent Ord Sarasin Responsible Bond 1,760,000 46,660 2,131,360 456,335 618,000 24 020 5.14% 4%,872 5.60% 2024 2023 Listed investments Cash in Investment portfolio 8,871,175 104,380 8,577,352 77,958 8,975,555 8,655,310 11 Taxatlon The chanly is exempt frorll taxation on ils activrties because all ils incorne is applied for charrtable purposes. 12 Deblors 2024 2023 Amounts falling due within one year= Other debtors Prepayments and accrued income 361,443 5,238 4,203 366,681 4,203 16-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 13 Credltors.. amounts falllng du• wlthln on• year 2024 2023 Accruals and deferred income Other credi101s 21,900 273,280 12,467 295,180 12,467 14 Net gains on investments Unrestricled Unrestricted funds funds 2024 2023 Revaluation of investments (Lossl on sale of investments 607,384 1167,1451 1785,5791 174,1591 440,239 1859,7381 15 Cash generated from operations 2024 2023 suruSI1deflCrt) for the year 382,505 1827.5C61 Adjustments for. Investment income recognised in slalement of financial activities Loss on disposal of investments Fair value gains on investments 1261,6261 167,145 1607,3841 1241,8111 74,159 785,579 Movements in working capital. Ilncreaselldecrease in debtors Increase in creditors 15.2391 9,433 675 1,064 Cash absorbed by operations 1315.1661 1207.8401 16 Cash and cash equivalents 2024 2023 Cash at bank and in hand Cash available to invest 362,499 104,380 380,004 77,958 466,879 457,962 17-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 17 Donatlons made to Instltutlons durlng the year 2024 2023 Action lor Stammering Children Action 4 Youth All Ears International Akheimerfs Research UK Anous Irvine Playing Fields Fund Auditory Verbal UK Barn Theatre Project Bees for Development Blood Canr UK British wirele for the Blind Fund Bourton-on-the-Hill Help in Need Charty Broughton Hill PCC CampavJn Again51 LivirvJ Miserably Carers UK Cobalt Medical Heaych Combat Stress Coram Life Education Cotswold Canals Trust Cotswold Friends Criminon UK Deafblind UK Disasters Emergency Commrttee- Turkey & Syria Earthquake Appeal Farg 8h2rg Farm Afiica Fight Against Blindness Fine Cell Work Gloucestershire Historic Churches Trust Gloucestershire Playing Fields Association Horne-start Cotswolds Hope for Tomorrow Independent Age Independence al Home Island F2rrn Donkey Sanctuary Kate's Home Nursing Katherine House Hospice Listening Books Longborough C ol E Primary School Longfield Cornmunity Hospi Mentoring Plus Milestone Society National Star North Cotswold Foodbank North Cotswolds School Federation Old School Village Hall IBourton-on-Ihe-Hilll 5,000 5,000 5,000 6,000 5,000 5,000 5,000 5,000 5,000 5,000 3,000 5,000 2,0 3,500 5,000 5,000 5,000 3,000 5,000 4,000 25,000 5,000 5,000 1,0 5,000 10,000 5,000 5,000 5,000 3,000 20,000 500 2,000 5,000 10,000 5,000 5,000 3,000 50 5,000 5,000 3,000 5,000 10,000 5,000 5,000 5,000 3,500 10,000 5,000 5,000 7,500 5,000 Carried forward 174,050 116,OCQ 18-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 17 Donations made to institutions during the year (Continued) 2024 2023 Brought forward 174,050 116,OCQ Oracle Cancer Trust Oscarfs Paediatric Brain Tumour Charty Pain Relief Foundation PETA Population Matters PUrnpA Beyond Water Prickles and Paws Hedgehog Rescue Pri8oner8' Education Trust REACT Read Easy Revrtalise Royal Society for Blind Children RSPB Shipslon Home Nursing Sightsavers Slamma St James, Church Longborough PCC Sl Lawrence Church Bourton on the Hill Support Through Court The Big Space Can[ Appeal The Gloucestershire Society The Nelson Trust The Theatre. Chipping Norton The Trussell Trust The UK Veteran's Hearing Foindation UNICEF 5,000 1,000 5,000 100 5,000 3,000 2,000 5,000 3,000 3,000 5,000 5,000 3,000 5,000 5,000 3,000 5,000 3,000 5,000 3,000 5,000 11,500 5,000 4,5CQ 3,000 10,000 3,000 2,0 5,000 5,000 5,000 5,000 10.000 50 3,000 3,000 Volunteering Matters ZANE 274,700 169,500 18 Unrestricted funds The unrestricted funds of the charily comprise the unexpended balances ol donations and grants which are not subject to speofic conditions by donors and grantors as to how they may be used. These incILe designated funds which have been set aside out ol unrestricted funds by the trustees for specific purposes At6April 2023 Incoming Resources resources expended Gains and losses At 5 April 2024 General funds 9,027,050 261,628 1319,3601 440,239 9,409,555 19-
MRS SUSANNA PEAKE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 18 Unrestricted funds (Continued) Prevlous y•ar'. At 6 Aprll 2022 Incomlng Resources resource5 expended Galns and losses At S Aprll 2023 General funds 9,854,556 239,072 12C6,8401 1859.7381 9,027,050 -20-