Sldneysanders Charftable Trust
Report of the Trusta•s
and H￿ncIal Ststements
forthe Ye•r Ended
5 Aprll 2025

SSdney Sanders Charltable Trust
Indem to Flnandal Statements
for the Year Ended 5 Aprll 2025
Cortents
Legal and Administrative Details
Tru5tees' Annual Report
Independent Examinerfs Report
Statement of Financial Artivltles
Balance Sheet
Notes to the Hnancial Statements
8-12

51dney Sanders Charltable Tiusi
ieyl and Admlnlslratlve Detslls
forthe Year Ended 5 Aprll 2025
The Sidney Sanders Charltsble Trust was established under a Trust Oeed dated l August 1983 and was subsequentfv
approve<l by the Inland Revenue Charity Divlslon. The Trust is re8i5teTed with the Charlty Commission Ire8iStrat¢on
number 2876811.
Address of Charty.
13 Cotta8e Road
Epsom
Surrey
199RT
Trustees:
C Barham Carter
Mrs C C Barham Slatter
Mrs C M E Warburg
Secretary:
J S Cushnie
Investment Advlsers:
Rathbones
30 Gresham Street
London
EC2V 7QN
Independent Examiner:
Anthony Kelly FCA
2 Woodberry Close
Chiddin8fold
Godalming
Suryey
GU84SF
Pa8e I

sidnèy Sanders Charitablè Trust
Tru#ee< Report
forthe Year Ended 5 Aprll 2025
The Trustees present their report along with the financial statements for the year ended 5 April 2025. The financial
statements have been prepared in accordance with the accounting policies Set out on page eight and comply with the
Trust Deed and applicable law.
MR5JANE BARHAM CARTER
The Trustees announce with great sadness the deaih on 8 May 2024 of the Chairman and Trusiee Mrs Ellzabeth Jane
Barham Carter.
Mr5 Barham Carter was instrumental in setting up the Charitable Trust as it is ioday and worked tirele551y 50 thai the
beneficiaries received support and help.
OBJECTIVES AND ACTIVITIES
Objedives of the Charity
The Trust Fund was established for the relief of those persons who are, or have been, enga8ed in the craft, trade or
profession of silversmith, goldsmith or horologist and their wives. widows, children and other dependants who are a150
deemed to be aÈÈd. impotent or in need of financial assistance, by making allowan￿5. grants or loans subject to 5v¢h
conditions as the Trustees shall from time to time decide. The TTusiees have fulfslled these objertives by assistin8 such
persons who have been in neÈd. and by making grants wrthin the named crafts. They plan to continue In thls way.
The legal and administrative Informatlon on page one forms part of this report and sets out the Trustees who served
durin8ihe year. Trustees are appolnted by the Board of Tmstees.
Grant maklng polky
The Trustee5 invite applications for sUPPOrt from people in need of financial a55TrStance who comply with the
requirements sel out in the objectNes of the Charity. The Trustees meet regularly to consider the applications, and
with the assistance of the Tru51 Visitor. assess the needs and circumstances of the individuals and their dependents.
Payments are made to benefi¢iaries for general welfare and for specific individual needs.
In addition. the Trustees aim, within their discretion, to provide sponsorship for ai least one individual each year with
fees at West Dean College, Chichester, West Sussex in the study of horology and fine metal work.
ACHIEVEMENTS AND PERFORMANCE
Investment income totalling £29,122 was received in the year12024- £31,152) and the Charity realised losses of £943
12024 - £12.5831 resulting ffom Investment disposals and recorded an unrealised loss of £7,33212024 gain of £15.5791
on the revaluatlon of investments to market value on 5 April 2025.
Durin8the year, thecharity paid £21,72512024- £21,914lforgeneral welfareof people in financial need to 5 individuals
12024 81. The Sidney Sanders Prize was awarded to one student at the West Dean College totalling £150
12024- £1501. One additional Brant of £85012024- £5,500) was made in the year.
FINANCIAL REVIEW
Financial revlew and Investment pol
The Trust Deed authorises the Trustees to make and hold investments usin8 the funds of the Charity. There are no
restrictions on the Trustees, power to invest.
The investments are managed by Rathbones on a discretionary basi5 and quarterly reports are made to the Trustees.
Future investment strategy is agreed by Ihe Trustees and takes account of income requirements, risk profile and the
investment manager's view of market prospect5 in the medium term. The strategy is set within an overall policy which
States that the funds are to be invested in low to medium risk investments wilh 3 view to ensuring thatthe overall yield
from capital appreciation and income exteeds inflation over a f¢ve-year period. At the interim reporting period5 the
Trustees receive a statement showing thè performance ol the funds relative to major market indices. Whilst it ha5
been a turbulent period in the financial and equity markets. the Trustees are satisfied that the performance of the fund
has met their requirements and progressed in line with markets generally.
Funds available are considered sufficient to permit the Charity to continue operatlng for the foreseeable future.
Page 2

Sidney Sanders Char5table Trust
Trustee5' Report
for the Ye•r Ended S April 2025
Reserve5 poIIcv
It is the policy of the Charity to maintain vnrestrirted funds, which are the free reserves of the Charity, at a level
equivalent to the investments required to produ￿ a yield sufficient to meet the objectTrve5 of the Charity-
Risk mana8ement
The Trustees have examined the rnajor strategic, business and operational risk5 that the Charity faces and confirrn that
systems have been established to mitigate those risks.
PUBLIC BENEFIT
The Trustees confirm that they have ¢omplied with the duty in Section 1711) of ihe Charities A¢t 2011 to have due
re8aTd to the Charity Commission's general guidance on public benefit.
The benèficiarie5 of the Charity are those persons who are, or have been. associètèd with the craft of silversmith.
goldsmrth or horologist and their dependènts. The Charity benefits the publit by providing financial asslstance to
the aforementioned beneficiaries. The Charity also provides sponsorship to individuals studying the crafts of
horo108y and final metal work. The promotion of these skills is considered to be in the Interests of the wider
community as they are in decline.
GOVERNANCE
Methodsi polldes and procedures for re¢rultment. appolntment. Snductlon and traininB of Trustees
The Trust Deed provides for a minimum number of Trustees and where there is a requiremènt for new Trustees
these would be identified and appointed by the current Trustees. The curTent Trustees are responsible for the
induction of any new Trustee which involves awareness of a Tru5tees' responsibilities, the governing document,
administrative procedures and the history and philosophical approach of the Charity. A new Trustee would receive
a copy of the previous yearfs annual report and a¢tounts and a copy of the Charity Commission leaflet'The Essential
Trustee.. Whai You Need to Know..
INDEPENDENT EXAMINER
A resolution for the appointment of Mr A Kelly FCA is to be prop05ed at the forthcoming Annual General Meeting.
Ib1911
Slgned on bep￿f of the Trustees on............................
C Barham Carter
PaBe 3

Sldney Sanders Charltable Trust
Independent Examlner's Report
Independent Emamlner's Report to the TYustee5 01 Sldney sanders Charltable Trust
I report On the accounts of the Trust for the year ended 5 April 2025, which are set out on pages 6 to 12.
Respectlve responslbllltles of Trustees and examlner
The Charity's Trustees are responsible for the prèparation of the accounts. The Charity's Trustees consider that an
audit is not required for this year under section 144121 of the Charlties Act 2011 (the 2011 Act) and that an
independent examination is needeil.
Having satisfied myself that the charity is not subject to audit and Is eligible for independent examination, it is my
responslbility to..
examlne the accounts vnder section 145 of the 2011 Act;
follow the procedufe5 laid down in the General Directions 8iven by the Charity Commlssion under section
14515llbl of the 2011 Act,. ènd
state whether particular matters have come to my attention.
Basls of Independent emaminer's statement
My examination was Carried out in accordance with General Direction5 given by the Charity Commission. An
examination includes a review of the accounting records kept by the Charity and a comparison of the accounts
presented with those records. It also includes consideratlon of any unusual item5 or disc105ures in the accounts, and
seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequently no oplnion is given as to whether the accounts
present a "true and fair vievl and the repoft is limite¢J to those matters set oui in the staternent below.
Other Matter5
Your attention is drawn to the fact thai the charity has prepared the accounts (financial statements) in accordante
with A¢¢ountin8 and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities PTeparin8
their accounts in accordance with the Financial Reporiing Standard applicable in the UK and Republic of Ireland
IFRS1021, second edition issued on 17 October 2019 in preference to the Accounting and Reporting Charlties..
Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulation5 but has
since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view In accordance with
the Generally Accepted Accounting Practice effective for reportin8 periods beginning on OT after l January 2019.
Independent examlner'5 Statement
In connection with my examination. no matter h3$ come to my attention:
which give5 me reasonable cause to believe that, in any material respect, Ihe requirements:
to keep accountin8 records in accordance with section 130 of the 2011 Act.. and
to prepare accounts which accord with the attounting record5 and comply with the actounting
requirements of the 2011 Act
have not been met,. or
Page 4

Sldney Sanders Chafltsble Trurt
Independont Examln•r's R•port
to whlch, In my opinion, attentlon should be drawn in order to enable a proper understanding of ihe accounts
to be reached.
Anthony Kelly FCA
2 Woodberry Close
Chiddingfold
Godalmln8
Surrev
GU84SF
Dated:........
Pa8e 5

sidney S•nder5 Charltable Trust
ststement of Flnandal Actlvltles
for the Year Ended 5 Aprll 2025
Notes
24
INCOMING RESOURCES
Investment income
29,122
31,152
Total IncomSn8 resources
29,122
31,152
RESOURCES EXPENDED
Charitsble expendlture
Payments to beneficiaries
Support costs
Management and administratlon
22,725
27.564
3.600
16,089
15,771
42,096
47,253
Cost of yneratln8 fund5
Investment managers. fee
8,197
T•)tsl resource5 expended
50,504
55.450
NET EXPENDITURE
121,3821
124.2981
Unreali5ed loss on revaluations
on investment assets
17,3321
15,579
Reallsed1105sesllgains on disposals of Investment
assets
19431
{12,5831
NET MOVEMENT IN UNREsTricfED FUND
129.6571
121,3021
Unrestricted fund balance at 6 April 2024
915,883
937,185
UNResTRicfED FUND BALANCE AT S Aprll 2025
886,226
915,883
The notes on pa8es 8 to 10 form part of these financial statement5.
Page 6

55dney Sanders Charltsble Trust
Balance Sheèt
At S Aprll 2025
2025
2024
FIXED ASSETS
Investments
871.177
889,CQ3
CURRENT ASSErs
Cash at bank and In hand
17,649
29,474
CREDITORS: Amounts falllng
duewlthSn one year
12,60))
12,6001
NET CURRENT ASSETS
15.049
26,874
NET ASSETS
886,226
915,883
FUNDS
Unrestrlcted fund
886,226
915,883
! b.[912(
Approved by the Board of Trustees on........
. and Signed on its behalf by:
C 8arham Carter
Trustee
Mrs C C Barham Slatter
Trustee
The notes on pages 8 to 10 form part of these financlal statements.
P?8e 7

Sidney Sanders CharltableTrust
Note5 to the Financial Statements
for the Year Ended S April 2025
ACCOUNTING POUCIES
•) Accountlng con¥ent5on
The financi31 statements have been prepareil wlth the Staternent of Recommended Practice.. Accounting
and Reportin8 by Charities preparing their accounts in accordance with the Financlal Reporting Standard
applicable in the UK and Republit or Ireland IFRS 10215etond edition issued on 17 October 2019 and the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act
2011 and UK Generally Accepted Practice as It applies from l January 2019.
The accounts lfinancial statements) have been prepared to give a 'true and fair, view and have departed
from the Charities IActounts and Reports) Regulations 2Cx)B only to the extent required to provlde a 'true
and fair view.. This departurè has involved following the Accounilng and Reportin8 by Charities pfÈparing
their a¢counts in accordance wTrth the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS1021 second edition issued on 17 October 2019 rather than the Accounting and Reporting by
Charities.. Statement of Recommended Practice effeaive from l April 2005 which has since been withdrawn.
bl Investment Income
The Trust derives its income from dlvidends and interest feceived from investments in the year. Investment
intome is credited to the Statement of Financial Activities in the perlod in which the Charity is entitleil to
receipt and Is shown inclusive of tax c￿lt transitional relief.
cl Resour￿$ expended
Expenditure 15 included on an accruals basi5 and iftclusive of irrecoverable Value Added Tax.
Payments to beneficiaries are charged to the Statement of Financial Activitie5 in the period in which the
grant or sponsorship is approved by the Trustees. Wherethe Trustees have expressed their intèntion to pay
future amounts. these are only included as liabilsties where the payments and timing are certain.
Support costs comprise costs for providing support and assistance to potential applicants and to aid the
Trustees in the assessment of the need5 of these appllcants.
Management and admlnlstratlon costs comprise costs for the runnin8 of thecharity itself as an organisation.
Fixed asset5 Wlth a short useful economic life are written off In the year of acquisition and included withln
management and administration costs.
dl Fixtd asset Investments
Investments are shown in the Balance Sheet at market value. Any gain or loss arising on Tevaluation or
disposal is taken to the Statement of Financial Artivities.
el Taxatlon
The Trust is registered as a Charity and is not liable to taxalion.
Fund attountlng
Unrestricted funds cornpri5e thosefunds which theTrustee5 are freeto use in accordan￿ with the Charitls
objectives.
gl Credltors Pafdble wtthln one year
Creditors With no stated interest rale and payable wiihsn one year are recorded ai transactlon pri￿.
INVE5NENT INCOME
2025
2024
Net dividends and interest
29,122
31,152
Page 8

Sldney Sanders Charftable Trust
PlotQ5 to th FSnan¢lal St•tements
torthe Year Ended 5 Aprll 2025
PAYMENTSTO BENEFICIARIES
2025
2024
The amounts payable In the year comprise:
Indlvlduals:
111 Payments lo beneficiarles for the general welfare of
people In financial need whose ci*cumstan¢es comply.
with the Charity's objertives
5 8rants12024- 81
21,725
21,914
lill Sponsorship for the training of a person engaged in the
craft. trade or professlon of sllversmlthi 8oldsmllh or
horolo8iSt
12024- 1 peTsonl
5.500
11111 Equlpment sponsoring
850
Ilvl Sldney Sanders Prize
150
150
22,725
27.564
SUPPORT cosrs
2024
2023
Trust visitor costs
3,600
3,600
MANAGEMENT ANDADMINISTRATION
2024
2023
Telephone, postage and stationery
Sundry expenses
Trust setretary fees
Accountsncy fees
441
730
12,000
2,600
452
1,037
12,OCQ
2,6CI)
15,771
16,089
There are no highly pald staff.
Page 9

Sldney ￿nderS Charltable Trust
Notesto the FInanc￿l Ststements
for the Year Ended 5 Aprll 2025
TRUSTEES. REMUNERATION AND REIMBURSED EXPENSES
TheTrustees received no remuneratlon fromthe Charitydurlngtheyear. Reimbursed travel expenses of £Nil were
pald during the year12024- £Nill.
FIXED ASSET INVESTMEP
Ail the Investments are held primarity for ?n Investment return.
2025
2024
Quoted Imiesimenis
Market value at 6 April 2024
Add:
Acqui51tlons at cost
Less-
Disposals at book value
Unrealised Ilossllgaln on revaluation
889,C*)9
918,927
166,285
215.372
1176,7851 1260.8691
17,3321
15,579
Market valve at 5 Aprll 2025
871,177
889,Ll)9
TOTAL FIXEO ASSET INVESTMENTS
871,177
889,009
Hlstorlc cost at 5 Apfil 2025
735,862
747.267
Reallsed loss on disposals
Proceed5 of sale
Cosl of Investments 501d
175,842
247,837
1176,7851 1261.2461
19431 113,4091
CREDITORS,. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Accruals
2.6C
Page 10

Sldney Sand•rs Charltable Trusl
Not•sto t￿ FInI￿la1 5tstements
lor the Year Ended S Aprll 2025
MOVEMEMf IN FUNDS- CURRENT YEAR
Net
movement
In fvnds
At 06.04.24
At 05.04.25
Unrestrkted funds
General fund
915,883
129,6571
886,226
TOTAL FUNDS
915,883
129,6571
886.226
Net movement In funds, Included in the above are as follows:
Incoming
Reso(tr¢eg
Resources
expended
Net1055
on investments
Movement
In funds
Unrestrl¢ted fund$
General fund
29,122
150,S041
18.2751
129,6571
TOTAL FUNDS
29,122
150,5041
18,2751
129,6571
MOVEMENT IN FUNDS- PRIOR YEAR
Net
movement
in funds
At 06.04.23
At 05.04.24
Unrestrl¢ted funds
General fund
937,185
121,3021
915,883
TOTAL FUNDS
937,185
121.3021
91S,883
Net movement in funds, included In the above are as follows..
Incomlng
Reso(trceg
Resources
expended
Net gain
on investments
Movement
In funds
Unrestrl¢ted funds
General fund
31,IS2
155,4501
2,996
121,3021
TOTAL FUNDS
31,152
155.4501
2,996
121,3021
Page 11

Sldn¢y Sanders Ch•rltabl• Trust
Notes to FlnancSal Statements
for the Year Ended 5 Aprll 2025
10. CONTROLUNG PARTY
The Trust Is controlled by the Board of Trustees.
Pa8e 12