D G Mai'shall of Cambridge Tiust
Annual Trustees Report and Fii]aiicial Sialemenls
Foi. the year ended S April 2024
Charity NLiinbei': 286468

D Ci Miii sFiall ufc¢?Ilibridue Ti'iist
Contents
Lcgal and Adi))inistratike Infr0E￿atiOn
Report ofthe Trustees
Iiidepeiident Exaiiiiiier s Repoi'l
Si<ilenieiit ol- FiiiaiicÉal AcliviliLs
Balance ShLei
Notes to the Fiiiaiicial Siaiet]ien15
10-16

D G MaiEhall of Cai)Ibi'idge"fi'iisi
Legal And Adiiiinistr#tive Infoi'iiiation
Charitv Niiiiiber.. 286468
Tpii.slcJL's
J A LiigTham (Resigi)ed 27 September ?0?3)
R D Mai'sliall
S J Moyiiihaii
C M H Walkins1￿￿' (Appointed 27 September 2023)
Pp'incipal Office
Control Biiilding
The Airpoit
Neiifmarket Road
Canibi'idge
CB5 81LX
Independent EAaininei'
MHA
Century Hoiise
The Lakes
Nortliainpton
NN4 7HD
Biirtkei's
Barclays Bank plc
9111 St Andrews Street
Cambridge
CB2 3AA

D G rshali of L. ?L mbi'idi)e Triisi
Repoi't of the Triistees for tlie year ended 5 April 2024
The l-rustees preseiit Ilieir report along N¥'iili the fiiiaiicial sl<11enienls ot the D G
M<?rshall of CambridLie l-I'ii81 Iilie -'fi'iist"I foi. the 12 iiionil)% ended 5 Api"il ?0?4.
The linancial slalements liiive been pt'epared li) <lccordanee witli the accoiintiiii)
policies sel OLII oil pa¥cs 10 and I l aiid coiiipl), w.illi Ilie ii'iist deed aiid <lpplieable
Objectives and actii'ities
Tlie Trust is conslitiiied undei. a iLLlSt deLd dated 2J Decen)bei' 198? The l-rusi w'as
regisiei'ed as a cliai.ily on 17 MarLlI 1983. l'egistialion iiulnber ?86468 and liaNe their
pi"incipal otTILe al Contiol Buildiiig, 'fiie Airpoit: Nem'markei Rodd, CaTnbrid. CB)
8RX. Iniliallv ilie Iriist capilal ii'"as £100 bill siiice Ilien fiii'ilier doi)ati0115 ha￿e bee
paid into the TrLisi bv Ilie seltlur, Marshall of Canibi'idge Aerospace Liinited
(hei'eiiiaft'ei. called "the Coiiipan% -) and Marshall of Cambridge (Floldinos) Limited.
The Ti'LlSt 15 eslablislied to cart). oui sueli ch<ll'iiable objects as tlie Trustces. ￿1117 Ilie
con%enl of ihe Conipaiij.. niav think fit. Tlie ancil lary objeeis are to siippoi'l..
needv aiid desttrviiig cases arisiiio any¥vhei'e but iii paiticiilai. ainonbj employees or
ex-eniploJ.'ees oi. theii. i"eliltives or depeiidaiits of tlie Coiiipan!.. oi. ai)!, siibsidiarN.'
oi. associciled coii)paiiN'
local chaL-ilie5- aiid
local ediicatlollcil iiislituiions as are cliai'iiablc in iiature.
Oi'a171 iiicikingiy()IiLJ'
The Tnist vi.'ill consider all applicalioiis foi. luiidiiig as received. ProvidLd the
application is consistenl ￿'It1) the Ti'iisr's objects and the Ti'iistees and ilie C'oiiipaii}'
ai"e iii agi'eement. a doiiation Lould be auihori5ed. 'I'liere is no minimum oi. i)iakimiim
donatioii.
Public bcnetit ytatement
Tlie Trusices conlii'ni the}. lial'e coniplied w'iih Ihe dilly iii section 17 of Ihe Charities
Act 2011 lo hav'e due regard to public benefit gliidaiice published b). the Cliaril!.
Coniniission.
Structure) goi'ernance and management
R D Mdrsnall. S J MoJ'nih¢Ln. J A InglMIii diid C M H Walkinsha¥i" serl'ed as l-rLtsiees
dui'iiigs the } ear ended i April 20?4. Ti'iislees are appointed aE thc discretioii of ilie
Coinpans, tor ali uiilimiled period, but must resig)n tlieir oifice upon being? called to do
so by the Board of Directors of the Compan}. Meetings are held on a regyular basis at
siicl) lime.% as the TrLislees froni lime 10 iin)e decide. Chai'itable doiiatioiis ¢0 be made
al'e aiithorised dl SULh tncelingjs.

D G Marsliall ol Cambridge Ti'l￿1
Report of the Trustees for tlie year elided S April 2024
Structure? governun¢e and in#iia¥enient {¢untinued)
I'he Trustees liave exaiiiined the major strategic, biisiness and operational risk5 which
Ilie Trust faces and confirin Ilidl systems have been eslablislied to enable re&TLilai'
re[￿rtS to be produced so that the necessary steps can be taken to lessen Iliese risks.
The Ti'ustees consider the key strategie, business and operational risks to be as
follows.
Risks assoeiated with investment incorne re12te to peiformance of the ini'estee and
income recei￿ed froiii this inveslnient. The 'frusl seeks lo adopt a c&utioiis and
prudeiit inTrestment staiice to balance potential I'elLIE'ns M'itli appropriate leiyels of risk.
Liqiiidily i'isk
The liquidity of the Trust is laken into consideration by the I"rusiees, a proportion ol.
assets are lield in readily available assels siich as Cash and iiivestmenl funds which ￿'t
easily IiqLiefiAble and therefore have mitigated tliis risk.
Relateil Parties
Tlie Tiiist has 110 eiiiployees. S J MoytLihaii is Coinpany Seerelary for Marshall of
Cambi'idge (Holdintss) Liniited aiid n]￿lY of ils subsidiaries and directoi. of Marsliall
of Caiiibridge (Engii?eerin(T) Limited, Frflai'5hall ok. Cambridge (Airport Properties)
Limited and Aeroacadeniy Liniited. J A Ingham was ali employee of Marshall ot
c.ambridge (Holdings) Liiniled until 30, June 20?3 and resigned as a Trustee in the
year. C M H Walkinshaw is Étn cniployee of Mdrshall of Catnbridge (Floldings)
Liniiled and director of Cambridge Aei'o Club Limited and appointed as a Trustee
during the Ye￿..
Achievements and p¢rformgnc¢
The Trustees believe thal the recipients and amounts of the donalions made during
tlie )'¢ar al'e sufticient kor the Triist to lthve achieved ils objectives.
Training
Ti'ustees are encouraged lo attend appropriate external training e￿.entS where these
will facilitate the undeitaking of their iole.
Financi41 perform4n¢c
Diiring the }ear: the Trust generated investment income of £77.229 (2023
£251.611), generated a surplus of £73.944 12023
1055 £271,732) froni the
revaluation lo market Tr'alue of traded investments and a loss ot £309,160 (2023 Ioss
£94:455) on the revaluation of non-ti'aded ini'estnienls to latest transaction price,

D (i Mai'si)ciil ()l-Cciiiibridg>e Tiusl
Report of the Triistees for the year elided 5 April 2024
Fin%tncig1 performanee (continued)
Their were no doiiatiui)s reLeii'ed dui'iiig Ilie J"eai' (2023 £iiil).
Tlie Trustees approijtd Cl￿1.11abI¢ don<ltlOl)S <1moiiiiliiiLI to £66.iOO {20?J £73,750)
iii acco1'd￿lLe ￿￿'Ith tlie perceived aiins aiid objectives of tl)e TrL18t. MIL. Triist's
activities are tiiiaiiced by ils invesln)ents and tl)e iiicome dei'iked rhere tiY>in.
Tlie TrLI.s1 has i'LceivLd free nCLOLiiiliiiu aiid <1dini5)ISLI'atl011 tacilities fiom Miif5hall of
Canibi'idge (HoldiiiLFS) Limited in tlie yeai..
The Trtislees ciirrenil}' do nol foresee any el)anges to the operation. ainis or objectives
ot tlie Ti'LlSt.
Ii?}yg.51incni i)()licJ'
l-lici'e are no resli'ictioiis on tlie 'l'rust's PO￿.er lo iiivesi. -I'he i11￿'eStniel7I stral¥{T￿. is
set by Ilie Triistees And lakes into ¢2CCOllllI Ilie I'LquireiMents to iiiake donations as ￿'ell
as ili¢ ne¢d io niaintalll Lapiial bTrowili so to tllsLire ilie Trust's IIiiLire abilities lo
fulfil 118 aiins. The ovenll polic J. is for inveslineiit ii) loi¥ aiid niediLiin I'isk tinancial
instriii))enis.
Tlie weighting ot 111￿.estrnei1t is revieii.ed ani)uall!, b). tlie Ti'L15tees. As at i Api'il
?0?4. <lPPI'oxiiiialel J I l Q/0 (20?3 - 10 % I inK'esled in casli aiid 59fj/￿ l?O?',
5?0/0)
iii a biL l<liic¢d loii. to iiiediuni risk poiifolio. iiiaiiag>e(I bs J M l.inn. -l-Iie reiiiaÉnin
380/0) ()f funds i￿ere iiii(L.qted in tl)e pi'etcrci)CL aiid oi'dinaTJ' shal'es ol-
Marsliall ul-Can)bi"Ldgse (HuldinbJs) Liiiiil¢d b¢¢¢lLise LIILY gil'e cl fixed aniilial reiui'n of
bciween 80/0 and l O % and poienlial tor capital orowili respectiiielv. Tlie piEfei'ence
shal-es aiid tion-votiiio
prioi'iiy oi'diiiar) sliarLS can bL' sold oli to anyone. ai Ilie
disei'ctioii of Ilie Ti'iislees; the sale of Ilie ordin<iry' sl)ai"e5 also I'equii'¢s Ilie approval of
Ihe Directors ofmarshall of CaiiibridLTe (Floldings) Lin)ited.
R¢J.%'ei'i'cJ.5 13c?liL y, Iin(I g()ing COnLLrn
It is Elie polic). of Ihe '[ rLisI lo Inaiiiiain unresiricted I"Linds. ￿..hICh al'e the tree resen'es
i)t tlie TrLlSt: at a lei.'el ￿..1]1¢17 ￿.111 genci'alc siifficient anniial iiicoine to CO￿tI, expected
annLial doiialions ai)d pi'eserve Ilie i'eal ￿￿]lle of tl)e eiidowed fiiiids. fLlllds ￿'e1'e
maiiitained at this level throLiglioiit the )'ear aiid the TrusteLS intend lo coniinue Iliis in
the fiiture. Rese￿eS at 5 April 20?4 wei'e £? 818,480 (202J
£3.061,319).
On the basis ofthe Ti'uqiees assessnieni L)1 tlie TILlSt's lincinci£l1 position. tlie Trustees
have a reasoi)able expectalioLI thal the "l-i'ust will be able to conlinLie in operalional
existencc for the foi'eseeable tLttiire.

D (i Marsliall ofc al￿bridge I'rusl
Report of tlie Trustees for tlie year ended 5 April 2024
Trii.IfL¢.f Re.Iponsibililie.f ,fialeiiieNI
Law applicable to cliarities iii Englaiid Wales requires the Trustees io prepare
tinancial slalements for each financial year Ni'hich give a true and lail view ol the
TrLlSt's financial activities during the year aiid ot- ils financial position at the eiid of
the vear. In prepai'ing> Iliose fii)ancial stalemenls. Ili¢ Tiustees ar¢ r¢qiiired 10..
selecl suitable accounting policie8 and then apply Iliem Lonsistenily.
observe the iiieiliods aTrd principles iii tlie L'liariligs SORP (FRS 102);
niake judgenienls and estimates that are reasonable and pi'udenl;
slate svlietlicr applicable ac¢ounlingJ st<mdards and slalements ot recoininended
practice have been followied subject to any" departures disclosed aiid explaiLied
in ihe financ'ial sl2tenienls,' aiid
prepare Ilic financial statenieiils on the goingy concei'n basis uiiless it is
inappropriate 10 presiiiiie thai tlie Trust will continiie in operation.
The Trustees are respoiisible for keeping accounting records which disclos¢ with
reasonable accui'acy at any liiiie the financial positioi) ot the Triisl and enable tl)em 10
ensure that ihe financial statements compl} iirith applicable aLcouiiliiig standards and
slalemenls of recoiiimended practice and the regiilalion niade under sl 30 of tlie
Charities Act 201 l. Tliey are also i'esponsible for safeguai'diiig Ilie assels of Ilie 'l'wsl
and hence for taking reasonable steps t.or tlie preveiition and derection of fraud and
oilier irregulai'ities.
,fialenienl 11.5. lo di.s'¢'10.5'111'L lo Iiiii. Independeni Excin7117LI ¥
In so tar as the Trusl¢e5 are <tW'(u"e ¢11 the linie ot appi'oving our Truslee5' annual
report..
there is no relevant inforinaEion. being infomialion needed by the Independent
Examiiier in coiuiection wilh prepai'ing thcir report. M'hich the Trust's
Independent Examiner is iinaH'are, and
the Trustee5 have each taken all steps that hclshe is obliged to take as a
1'1'uslee in ol'der lo make Iliemselves aivdre of ¢in}' i'elei'ant audit informalion
ajid to establish that the Independent F.xaminer is aware of that infoiynation.
Appi'oved by tlie Trustees on 21 October 2024 and sigiied oil tlieir behaifbv..
S J Moynihan
Ti'ustee

D CJ Marnhcili ul. Cciiiibi'i(Igc Ti'ust
INDEPENDf.NT r.XAPvllNERS REPORT 2024 TO THE TRUSTEES OF D G
MARSHALL OF CAMBRIDGf. TRUST
I report lo the chariij Triistees oil niv examinatioii of the accounts ot tlie cliarily tor
Ilie year ended 5 April 20?4 ii.'Iiich al'e set oiit oli pabyes 8 to 16.
EiESPONSIBILITIES AND BASIS OI". REPORT
As the chai'iiy iiustees of the Ti'iist >'oii ai'c responsible toi. tlie pi'epai'ation ot the
accouiits in MLCOI'daiiLe with tlie I'equii'ei))eiils OF ilie Charities Act ?0 I i (-"Ilie Act.).
I I'eport in I'e5pecl of ni>. e.Kaminalion of ilie Triist's accounts cai'i'ied oiit LiiideL seetion
14) ol tlie 2011 Act and in Lafry"LlllJ OLIt ii)}' exaniiiiLl1ion I liave foll1)￿""ed all the
applicllble Directions giveii by tl)e Cliarit>' Conimission iindei. seLtioii 145(5)(b) of
the Act.
INDF.PF.NDENT EXAMINER'S STATFMENT
I liai.'e con)pl¢led Iny exaJi)inalion. l Lan LOI)l ii.iii Ilial 110 Inatei'ial mailers liave conie
to m), alleiition iii ¢onneclion i¥'iih the ekaniinailoii oiving nie ¢aiise to believt Iliat 111
iy niaterial respect..
accouiiting I'ecords w'ere n()t kept li) re%pect of the Trust as reqiiii'ed bv scction 130
of the Act. oi.
? Ihe aeeounis do i)ol aLLorcl Ki-itli tIiosL I'ecoi'cl8', cii.
J. tlic accoiinis do not eoiiipl! w.ith Ilie applicable I'cqiiii'enieiits concerning Ilie foi'iT]
aiid coiitenl of aLLQLiiils seL viit iii Ilie Lliai'iiies {ALc()uii15 aiid Repoi'ls) RegTLilalioiis
?008 other Ll)an 2L l)k I'eqiiireineiit tlicll tIiL accoiiiils gTjI-e 1£ 'lrLle aiid fail. I'ieii, i￿.111Lh i
not a iiiatiei. eoiisidered as part ot an iiidependenl exaniintstion.
I liive no concerns aiid liave coiiie aci-oss no oilier iiiatters in connection witli the
exaiiiinalioii to ivlii¢Tri atleiilion should be dE"awn iii this report ii) ordei. lo enitble <1
propcr LiiiderstEJnding of Ihc accoLinls lo be l'eached.
Sigiicd..
Rebeeea HLlI)lies BSL {Hons) FCCA
MHA
31 Oclobei. 2024

D (i Marshall of C￿nb1'1dge Ti'i15l
Statement of Financial Activities for the year ended 5 April 2024
Incoming resources (all unrestricted)
Notes
2Q24
2023
Inwtstnient income:
Bank interest re¢eiNpble
Di￿ldendS receiNtble
8,879
68,350
77,229
250,430
251,611
Total incomin
resoui'ees
77229
251,611
R¢sources expcnded
Charitable aCti￿lI1eS
Independeiil Examiners fee
Management charges
Other ex
en5es
Total resources ex
10
66,500
3,900
14.401
51
57,750
2,450
15,607
221
ended
84,852
76.028
Net incoming l (outgoing) i'esource5
(7,623)
175,583
Other reeognised (losses) I gains:
Nel
loss
iii un In￿SiMe1]IS
(235,216) (366,1871
Net movement in funds in the year
Fund balances brouglil forward
(242,839) (190,604)
3,061J19
3.251,923
Fund balanees earried forivard
2,818,480
3,061,319
The Statement of Fiiiancial Activities includes all gains and losses recognised in the
Iweli'e month period. All ittLomingF rebouiLes and resources expended derive from
conlinLiing activities. All amounts have been rounded to the nearest pound.

D G Il¢if>h..11 ()1 C<ll)IbriLltF¢
Charity Niiinber: 286468
Bal&qJice Slieet at S April 2024
Nores
2023
rixeil Assets
Iiivestii)enis at n￿l'Ke1 value
2.S21.267
? 770.884
Current Assets
Debtors
Cash at bank
625
324,588
32S,213
317.i3i
317.535
Ciirrenl Liabilities
CrLdilors.' ainoiinl talling duc wyithin one }iear
{28,OOUI
197.1001
Net Curreiit Ass¢ts
297,213
?90.4i)
Net Assets
2,818,480
3.061.319
TJJL. liin£l.s (>f iliL L'htll-11)'-
UnrL'sti'i¢'led iiieome funil
FLind balance5 bioughi torward
Nci i))ovemcni in liinds lor tlic year
3,061,319
1242,839)
3.)i1.92.i
1190.6041
Fuiid bal¥iiices cai'riL.d foni'ard
2,818,480
),061.359
Approved and aLiiliorised for is5uc bv the Board ol'"I'i'usiees on 21 October ?0?4 and
bigned on ils bLh<ilf by..
S J Moynihan
Trustee
Thc notes on pages l O ÈO 16 fori)I part of Iliese a¢coiints.

D G Mai'shall of Canibridge Tru51
Notes to tlie financial statements foi. the )'ear cnde(15 April 2024
ACCOUNTING POLICIES
(nj Stalenienl of tonipliaiice
Th¢ Trust is a regislei'ed clwrity, regislered on 17 Mdl'ch 1983. Tlie Trusl's registered
address is Control Biiilding,, Tlie Airporl, Neivinllrket Road, Canibridge, CB) 8RX.
The financial statenients have been prepared in accordance wilh the Charities Act of
2011: United Kiiigdoin Generall), Accepted Accounting Practice and the Sialemenl of
Recommended Practice applicable to charities preparing theii. llceounts in accordance
with the Financial Repoitingi Standard l O? (Charities SOKF {F'RS 102)).
(b) Basisforprepiiralioii
Tlie tinancial slaleinenls have been prepared undei- the historical cost conv¢nlioii as
niodified by tlie ineliision of iiiveslmei?Is at market value. The financial staiemenls
have been prepared in accordaiice with applicable accoiinting standards. The financial
siate]rLents are prepared in sterliLig kvhich is the Trust-'s functional currency.
A5 tl)e charity is not a 'l.ai'ger Charity. as defined by Ilie Charities SORP (I-"RS102),'
the eiility has taken advantage in not preparing a Statement ot Cash Flow'5.
Going Concern
The financial stalenient8 liave been prepared on the going conceim basis. OL] clie basis
of their a55¢5s111ent of the Ti'usl'5 finatlcial position and of ihe eiiquiries niade of tlie
Trustees, the Trustees have a reasoiiable expeciation that the Trust will be able lo
onlinue in operationFIl existence for Ilie foreseeable futui'e. 11]us, they continue lo
adopt the going coiicern basis of accounting in preparing the annual financial
statcments.
Judgement5 and key sources of estimatiun unL'ertainty
The preparation of the financial statements requires manageiiient to make judgeinen15
estiniales and a55UlnPtions that affect the amoLints reporled for assets and liabilities as
al the balance slieet dale ￿]d the aiiioiiiils reported for revenlies and expenses diiring
Ilie year. The following judgement had the mosl significant effect on amounts
recognised in the financial statemeiitS.'
Valualion ofnon-listed invesime171
Non-lisled iiivestments are valued at eitlier th¢ laie51 price at which transactions
between independent counterparties wei'e completed oi. at an annual independent
professional valuation.
(c) Investttieiil income
DÈvidcnd income is reLeived wheo the righi to receive payment is established.
Income from fixed interest secui'ities and oiher iiiteresl receivable is included on an
accruals basis.
(Il) litcoining res'oiirces
All iiicomiiig resources are recog>nised once reccived.
10

D G ,I,l. ..l)<ill ul. C<iiiibriJ¥e Trii)I
Notcs ¢0 th¢ liniincial statements for the )'ear ended 5 April 2024
ACCOUNTINC, POLICIEI S (continued)
(È) Re.ftsiifLeS &iiJeiidecl
rxpeiidilure is inclLidLd 011 ali accruLlls basis. Doiialiolis niade al'e inLliided Th'iiliiii
1i<lrilable &Lli¥'ities and slanip (ÉLlly oli sliairs bougl)t. legal fees &ind baiik charges are
inclLidLd ii'iiliii) oiliei. expeiis¥s. IManagem¢iil Lliai'ge5 01. inve51nieii15 aiid Indepeiident
Exaniiners fee are disclosed sepai'atel}'. The Tiiisl did iiol haN'e aiisw einployees iii the
ciii'i'ciil or PL'ior yeai..
(fj Doiiatitsiis piiade
Donations al'e recognised w'lieii a coiislruc(iv¢ obligation ai'ises Iliai resLIII in ihe
paymeiit beiiig ali iinavoidable comtnilmcnl. at the dale ol-approval b}. Ilie Trustees.
(g) Vcilii¥ Adile(l Tiix
Tlie TTLISI is iinable lo recoiiei- inpllt tax and accoi-dingly expeiises are sliown
inclusive of Value Added T¢lX.
(li) Fiieil a5.Fel iiivestpiieiit.F
Fi.Ked <isset inv'esliiients are iniiiallv I'ecu
Tiiised at cost (less iraiisactioii expeiisesl.
Siihsequeiitl!.. the ini'estii)eiil% at'e measlired at fair i'£11iie thi'oii(yli Ilie Staieinenl ot
ri112£ IIClc11 Actii'ily. Lisied IixeLI c)sseL iiiii¢stiiienls al'e inclLidLd in Il)L balance slieei al
clobin¥ bid niarkel value. Investiiienls iii tlie uiilisled sl)111es of Marshall ot
CaiiihridLFe (Floldings) l.ii)ii(ed arc I'allied at ilie latest Ii'aiisi< Lti()i) price Any- gain oi.
loss ()ii rei'alLialioii is taken 10 the Stateiiieiit ol- b'inlL ncial AL(ii'ilig8.
(i) Fiiiuiiciiil 1115triiiiiLiiils
Debtoi
Debiois are anioiiiits receii'2& ble trum invesinieiils. 11- L(Ill¢LIiL)ii 15 expected in one
vear nr leqs. Ihek, ai"e classified as cui'reiil asset5. If Llot. the!". al'e pi'esented as iioii-
ciii'rLiII assL%is. Ans. lo)sses ai'isiiig troin iiiipaii'nieni ale recogjnised iii Ihc Stalcinciil of
Financial Activities.
Creditoi
Ci'edilors air doiiations payable oiice a coiistrLi¥live obligali(In ariseb ihdl resLilib III
the payment ￿Ing an uiiavoidable coinniitment. at Il)e dale of approN'al bi. Ilie
Trustees.
If payiiienl is expecied iii one yeai. or less. the￿. al'e classified as curreiit liabilities. If
not, they are classltied as noii-cui-reiil.
Cash Cash equivalent
Cash aiid casli eqiiii'alenls in the balanee sheet compi'ise cash at baiik and in hand.
(k) Fiiiiil ffccoiiiiliii
DLtai15 of tl)e iiature and piirpose of each fund is set out in note 8.

D G Mc1rshall ol. Cambridge 'frusl
Notes to the findncial stHtLments for the yeai. ended 5 April 2024
TAXATION
No provision is iiiade foi. laxation by virtue of tlie Trust's charitable stslus.
DIVIDLI NDS
Dividends received froni investments are as follow5=
2024
2U23
Marshall of Cwnbridge (Holdings) Limired- Class A Prefs
Marsliall of Cainbridge (Holdings) LiiMited- Clas5 8 Pref5
Marshall of Cambridge {Holdin&s} Limited- Ordinwy Shares
Marshall of Cambridge (Holdings) Liinited- NVPO Shares
J M Finn In￿$thnent
5,026
3284
1,180
12,390
46,470
68,350
5,027
3.28)
169,330
49,188
?50,430
FIXED ASSF.T KNVESTMENTS
The Trust holds tlie folloNving fixed asset iiii'estsiieiiis..
.Vai'shall OJ.
Cambridge
IHolding.¥J Licl
i) Trtal..
in¥esfm¥nl3'
lolol
Cost
At 6 April 2023 and 5
April 2024
Gain l (105s)
At 6 April 2023
Gain for Ilr year
*Olher
At S April 2024
271.410
i.yoo.000
1,971,410
884.510
1309.1601
(85.036)
73.944
799.474
{23i,2161
(14.401)
549.857
{14,4011
{25,493)
575.350
Market Value
At 5 April 2024
846,760
1,674,507
2,521.267
Ai 6 April 202)
1.155.920
1.614,964
2.770,884
12

D G- Mai'siluil (li
C'aiiibi'idge Ti-llsi
Notes to the fin#nLi#l statements for thc year ended S Api-il 2024
FixfD ASSET INIIF.STfvIENT.S (eontinuecl)
ii) MiirsliÉtll of
Caiiibriilue
(Holiliiigs) Licl
1017-
11)1117g
Pi'ioi'ilj
'.4, PI-L?
'B' Pi-¢f ()I'diJiaiJ.'
,8hcii'c'.i'
Op'ÉliniiFy
T(Iliil
Cost
At 6 April 2023
i April 2024
61,319
46,341
20,469
143,281
271,410
Giiin
Ai 6 Api'il ?023
Gaiii / (loss) lor
Ilie yeai.
At S Api-il 2024
14,424
104.906
734.344
884,510
(38.645}
1270,5151
(309.1601
30,836
14,424
6C),261
463,829
57iJiO
MArket V%lue
At 5 Apiil 2024
92,1>>
60,76)
86,7JO
607,110
846.760
At 6 April 2023
60,76)
12i,37i
877,625
l. l i),920
Tlie TrLlSte¢s hai'e Lonliniied lo value Ihe shai"e5 held in Marshall of Cambi'idgre
IHoldingFsl l.imited at eiihei. IhL latesi price £lt which li'aiisacli0115 beti¥een
independei)I COLincerpai'(ies H'ei'e completed 01- al an annlial iiidependenl i)rotessioi)al
valiiation. Tlie iiallie per sl)aie at }'eai' eiid aiid the latest ti'aiisacEion date ivere as
I'oiing
Pi-ioi'ity
'A' Pi'e/
'B' Pi-É/'
Sl?<ii'es
Oi'clinni J,
,glicii'eJ
Oi-dinai J.
,ghai'e.s
At 5 April 2024
1.47
1.85
2.94
At i April ?0?3
1.47
1.85
4.25

D G Marsliall of Canibridoe TI'LISE
Notes to the finaiicial statements fur the }'e#r ended S April 2024
FIXCD ASSET INVESTMENTS (continued)
The iiutTribei' of shares lield by Ilie Trust in Marshall of Caiiibridge (Holding5) Liiiiited
were as follows.
Noii-
voling
Pi'ioi'ily
Dividend
()i'(lin4iy
Shai'cs
'A' Pref
Shcip-es
Ivo.
'Il' Pi-L>/' Orclip7QiJ'
.gharcs'
Shares
At 5 April 2024
62.833
32,846
29,500
206.500
iiij Trrtfleil i11￿51￿clI1￿.'
JMFin
C05t
Ai 6 April 2023
Additions
Disposc11s
At 6 April 2024
1.700,1Y)O
1,700,000
Gain l (Ios5)
At 6 April 2023
Profit for year
*Other
At 5 Apiil 2024
(85.0361
73,944
14.401
Market Value
At S April 2024
1.674.507
At 6 April 2023
1.614.964
*The other movement in the J M Finn inveslmenÉs pertains lo iiianagement expenses
paid lo the advisors amounting to £14,401 (2023 - £15:607).
The Trustees have continued to value the shares held in listed funds al the laiesl
quoted Diarkel price.
14

D G NAar8hall ol. C'ai-,
Notes to the finAncial statements for the )'ear ended 5 April 2024
F.BTORS:
2024
AcC￿￿d diiiidends receii•ble
62)
CIIEDITORS: Ami)unts fg11ing due ii'itliin oni. )'ear
2024
?0?3
Accwa
28,000
27.100
Aeci'uals diie ii-iihin one )'eai' al'e doi)ation coniniitiiienls iiiade by Ilie Ti'ustees and
hicli are P<1yablc %Niihin one lear and the InLlepciident l.Yan)iiiei's fee.
FINANCIAL INSTRUMENTS
2024
?o?J
FiniinL'itil ci.s.1'¥1.5 111 Iiiii. I'ciliiL ihi'()ii,yh ihL, .Si(IlLJI}IL'ni ipl-Fi171117c'i¢II.4L'III'IIJ'
Listed I1)vestn￿n[S
Noii-h'sted InveStn￿nIS
1,674,507
846,760
1.614,964
l. l jj,9?0
l. in¢incial u,%.%81.1 Éil dI17(pi ii.¥e(I co.fl
1¢ sli ai Bank
324,i88
317.53)
TRUSTCES, Rf.MUNERATION
No I"eniuiiei'dtion dii'ectlv oi. iiidii'ectly out of tlie Funds of IliL Triisi ¥N'as paid oi.
p&sable for the }'ear or pi'ior sear, to aiiy I"riistee nor to any petson or pei'sons ki)owi)
fo be con]iected H'ith &n>' of Iheiii. No reimbiirsLrnent of expenses lias been made oi.
is dLie lo be made to aLI)' of tlic Trustees in I'especl ol. Ihe year or the prioi. year.
FUNDS
All funds al'e uiirestricted funds and comprise tlio8e fLinds wliieh the TrLlStees 2re free
to iise in accordance willi Ilic charitable objects.
10. GOVF.RNANCE C'OSTS
Audit fees loi. the audil of the fii)anLial stdleinents were previolisly borne by Mursliall
of Canibridge (I loldings) Litniled. The Independeni Exaininei's fee is i)ow payable b>.
the Trusi.

D CJ Mai'51iall ofc(IinbridgL TI'u5t
Notes to the financial statetnellts for tlie vear ended 5 April 2024
I I. CHARITABLE DONATIONS MADE DURING THE YEAR ENDED S APRIL
2024
Tiie follow'ing cliaritable donations were made accvi'daiice witli the obj￿tiveS or
Ilie Trusi as set oiit in the Report of the TrLislees.
Donee
Abbey Peopte
Addenbrookes Cknritabk Ti'usl
Air T12UliI]bJ Corps
Bobb), N4oore BO￿￿1 Ca￿e1.
Cambi'xlge Aid
CatnbrKtgJe United Conmlllliiiy Ttu¥l
Easi At]Lliin Clvklien's HOsp￿e
Jinwnys
Red Balloon Learner c.ent￿ - C8mb]Idge
sal￿tIon Arn
Te￿Ishanl SclK>oI
The Artliiw Rank Hospice
7,000
7,000
4,000
500
7,000
7,000
7.000
7,000
7,000
3,000
7,000
66,500
Analysis of chai-it#ble donations m¥de during the year etkded S April 2024
Aviqi￿n
Hospita15 and related oigonsatKJi
Li)Lal Lumnunity
Children's ChariiEs
DtsabQty, health & life threaten￿]g
Education
4,000
7,000
35.000
7,000
10,500
3,000
66,500
12. RELATED PARTY TRANSACTIONS
There were no related party transactions that required disclosure for the yeai. ended 5
April 2024 (2023.. nil).
16