Charity number: 288730 THE LISTER CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE LISTER CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advis8rs Trustees. Report Independent Auditors, Report on the Financial Statements Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements 11- 19
THE LISTER CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees P A Horne T R Horne J H Horne S C Horne B B Horne Charity rggistgred number 288730 Principal office clo Apperley Limited 44 Welbeck Street London W1G 80Y Independent Examiner Daniel Walters FCA Harris & Trotter LLP Chartèred Accounlanls 101 New Cavendish Street London W1W6XH Page 1
THE LISTER CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report together with the audited financial slalemenls of the Charity for the 6 April 2024 10 5 April 2025. Obloctives and actlvltlO$ PolScS•s and obl8ctlve8 The objects of tho charrty are to pay or apply the Trust fund. income and or capital for charitable purposes including making donations lo any charitable body. association or org8nisalion al the discretion of the Iruslees. There is an intention lo restrict the number of different ¢harilies helped through donations in order lo achieve focus, optimum effect and dose personal interest and involvement in the areas that are selected. The trustees having regard lo the publi¢ benefit guidance published by the Charity Commission in aeetsrdance with seclDn 17 of the Charities Act 2011. consider the purpose and activities of the charity satisfy the requiremen18 of the public benefit lesl sel out in section four of the same aet. Achl•vomonts and performanGo a. Maln achlgvement8 of tho Charlty The trust formerly had strong links lo the UK Sailing Academy bul thi$ is now primarlly supported by the Whirlwind Charitable Trust having been seeded with £4m capital sum by the Iru$l in June 2007. Thi$ has enabled the Lister Charity lo have grgaler impact in other areas ol eharitable support. The portfolio value has decre88ed, with the inveslmènls overall decreasing in value by 1.82 /0 during this year £7.655,74512024.. £7,797.5061. This is due lo listed inveslmènls being disposed and an de¢r¢ase in market value during the year. Investment income has decreased during the year lo £142.07212024'. £147,309) which includes dividends received of £58,99912024.' £63,644) during the year. Asset allocation within the fund is inlention811y defensive lo refleel the present e¢onomic and financial uncertainties bul is also pos11ioned with the aim ol growing both income and capital in tho lulure. b. Fundralslng actlvitigs and Ineome generatlon During the year Ihg Charity did not carry out any fundraising actwities and 811 the income was generated from the investments. Flnanclal revlew a. Golng con¢?rn After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable lulure. For this reason, they continue 19 adopt the going concern basis in preparing the financial slalements. Further details regarding the adoption of the going concern ba51s can be found in the accounting policies. Page 2
THE LISTER CHARITABLE TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 b. Rèsèrves pollcy Th8 charity received a large donation in the mid 1980's from Noel A Lister, this is the Expendable Endowment Fund, which now amounts lo £7,648,74612024.' £8,055,652). This fund generates income which can be used in accordance with the objects of the charity. During the year the Iru$l mode grants lotalling £333.72312024." £1 $0,44SI as li8led in note 4 to tho accounts. Al the year-end the Unrestricted Fund amounted lo £nil. Charitable eKpendilure and governance costs are paid out of the Unreslricled Fund or in the event that this does not have suffi¢Enl funds there Is an expendable endowment fund which can be used lo cover thesè costs. The ad8quacy ol the reserves policy is reviewed annually. In accordance with the trust deed, the Iruslees have the power lo invest in such stocks, shares, inveslmenl$ and property in any part of th¢ world as they see fil The Iruslees uses JP Morgan as investment managers on discretionary basis lo invest for 8 balanced return of income and capital growth in the long term. The present policy ol the trust8e$ is lo make donations from Ineome whilst maintaining the capital of the unrèslricled endowment fund in real lems. Structuro, gov•rn•nGg and managoment Constltutlon The eh8rrty w88 founded on 20 Octobar 1981 by N A V Lisler.The Iru$lee$ who served during the year and since the year end are given on page 1, together with particulars of the Charlly's professional advisers. b. Mgthods of appolntmént or electlon of Tru$tO The management of the charity is the responsibility of the Trustèes who are elected and co.opted under the lèm3 of the Trust deed. c. Organl8atlonal Structurè and doclslon-maklng pollcles The Lister Charitable Trust is consliluled under a trust deed dated 20 October 1981. New Iruslees may be appointed by the existing Iruslees by virtue of a power eonlained within the trust deed. The existing Iruslees lake responsibility for the induction of any new Iruslee which involves awareness of 8 Iruslee's responsibilities, the trusl deed and the founde¢s aims and philosophical approach for the charity, The Iruslees normally meet quarterly lo review the applications. All applications for funding are carefully reviewed, taking into account the Iru8tees collective aims and objectives and bearing in mind the wishes and intentions of the founder. The Iruslees have assessed the major risks lo which the charity is exposed. in particular those related lo tho operations and finances of the charity and are satisfied that systems aro in place lo rniligale their exposure lo the major risks. The charity is administered under the direction of the Family Office in Marylebone, London, Page 3
THE LISTER CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Statement of Trustoes. respons1blll8S The Tru51ees are responsible for preparing the Tfuslees, Report and the financial slalemenls in 8ccordance with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Praclicel, The law applicable to charitlgs in England & Wales requires the Trustees lo prepare financial statements for each financial which give a true and lair view of the stale of affairs of the Charity and of ils incoming resources and applicalioll ol resources, including Ils inG¢yne and expenditure, for that period. In pparIng these financial 5talemenls, the Trustees are required lo.. sela¢t surtable accounting policie5 and then apply them consislenlly., observe the methods and principle$ of the Charities SORP IFRS 1021.. make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Ac¢ounling Standards IFRS 1021 have been followed, subject lo any matèrial departures disclosed and explained in the financial slalemenls., prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explaln the Charity's transactions and disclose with reasonable accuracy al any lime the financial position ol the Charity and enable them lo ensure that the financial slalemen18 comply with the Charitie$ Act 2011, the Charity IAccounls and Reportsl RegulatnS 2008 and the provisions ol the Tru51 deed. They are also responsible for safeguarding the assets of the Charity and heneg for taking reasonable Steps for the prevention and detection of fraud and other irregularilie$. Approvod by order of the members ol the board of Trustee$ and signed on their behalf by.. Date: Page 4
THE LISTER CHAR5TABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE LISTER CHARITABLE TRUST Opinion We have audited the financial stslements of The Lister Charitable Trust Ithe'charily'l for the year ended 5 April 2025 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of signifieanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Slandaid applicable in the UK and Republic of Ireland. (United Kingdom Generally ACpted Accounting Practicel. The financi81 statements have been prepared in accordance wrth Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of RornMended Practice issued on 1 April 2005 which is referred to in the ext8nt regulations bLJI has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordan with the General Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial ststemenls.. give a true and fair view of the stale of the charity's affairs as al 5 April 2025 and of ils incoming resources and application of resources for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Aet 2011. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilrties for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our auclil of the financial slalemenls in the United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fLJlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviL¥ence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified 8ny material uncertainties relating to events or conditions that. individually or collectively, may Cast significant doubl on the charity's ability to continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concem are described in the relevant sections of this report. Page 5
THE LISTER CHARITABLE TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE LISTER CHARITABLE TRUST {CONTINUEDI Other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial slalemenls does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the course of the audit. or otherwise appears lo be materially misslaled. If we identify such malenal inconsistencies or apparent material misstatements, we are reqkjired to determine whether this gives rise to a material misslalement in the financial statements themselves. If, based on the work we have performed, we Conclude that there is a m8leri81 mis51alemenl of this other infotmalion. we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reportsl Regulations 2008 requires us lo report lo you if, in our opinion.. the infomialion given in the Trustees, Report is inconsislenl in any material respect with the financial stalemenls,. or sufficient accounting records have not been kept.. or the financial slalemenls are not in agreement with the accounting records and relums., or we have not received all the information and explanations we require for our audit. R8spon6lblllties of trustees As expl8ineLY more fully in the Trustees, Responsibilities Statement. the Trustees are responsible for the preparation of the financial slalemenls which give a true and fair view. and for such inlemal ntrol as the Trustees determine is necessary to enable the preparation of financial stslements that are free from material mi5slalement, whether due lo fraud or error. In preparing the financial slalements, the Trustees are responsible for assessing the charity'g abilrty lo continue as a going concern, disclosing, as applicable, matters lated lo going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charity or lo cease operations, or have no realistic allemative but lo do so. Page 6
THE LISTER CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE LISTER CHARITABLE TRUST ICONTINUEDI Audltors, responslbllltles for the audSt of the flnanclal statemonts We have been appointed a5 auditor under section 144 of the Chariti88 Act 2011 and report in accordance with the Act and relevant regulations made or having effèct Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslalemenl, whether due to fraud or error, and lo issue an Audilor$' Report that includes our opinion. Reasonable assur8nc8 is a high level of assurance, bul is nol a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misslalemenl when il exists. M1$51alemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they ¢ould reasonably be expected lo influence the economic decisions of users taken on the ba$13 of these financiol slalemenls. Irregularities, including fraud, are instsnces Of non-complianco with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities, including fraud, The exlenl lo which our procedures are capable of delecling Irregularrties, including fraud is detailed below., The objectives of our audit are lo identify and assess the risks of material misslalemenl of the finan¢141 slalemenls due lo fraud or error,. lo obtain sufficient appropriate audit evidence regarding the assessed rSk8 of material mis51alemgnt due lo fraud or error.. and lo respond appropriately to those risks. Owing lo the inherent lirnitations of an audit. there is an unav0idabl8 risk that material mis$latemenls in the financial slalemenls may not be detected, even though the audit is properly planned and performed in accordance with thè ISAS IUKI, In identifying and assessing risks of material misslalemenl in respe¢l of irregularities, including fr8ud and non compliance with law5 and regulations, our procadur¢¥ included the following., We obtained an understanding of the legal and regulatory frameworks applicable lo the Charity and the industry in which il operates. We determined that the following laws and regulations were m051 signilicanl.. FRS 102 and the Companies Act 2006, We obtained an understanding of how the Charity 18 complying with those legal 8nd regul•iory frameworks by making enquiries of management. We challenged assumptions and judgements mado by management in ils Significant accounting eslimales. We did not identify any key audit matters relating lo irregularities, including fraud. A further descriplion of our respon5ibililies for the audit of the financial slalemenls is located on the Financial Reporting Council's website al., www.lrc.or .ukla ie This description foms part of our Auditors, Report. Use of our report This report is made solely lo the charity's Iruslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's Iruslees those matters we are required lo slate lo them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo anyone other than the charity and ils Iruslees, as a body, for our audit work. for this report. or lor the opinions we have formed. Page 7
THE LISTER CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE LISTER CHARITABLE TRUST ICONTINUEDI Danlel Walters FCA Harris & Trotter LLP Chartered Accounlanls 101 New Cavendish Street London W1W6XH D810'. Daniol Wallor$ FCA are eligible lo act 88 8udilor$ in lem$ of $gclion 1212 of the Companies Act 20C6. Page 8
THE LISTER CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Expendablg Unrestricted Endowment funds funds 202S 2025 Total funds 2025 Tolal lunds 2024 Nots Income and endowm6nts from., Investments 142,072 142.072 147,309 Total income and endowmènts 142,072 142,072 147,309 ExndIture on: Raising funds Charilablo activities.. Grants paid Govèrnance ¢081 81.887 81,887 72,770 333,723 26,913 333,723 26,913 750,445 21,200 Total oxpendlturo 360,636 81,887 442,523 244,475 Nèt expenditurg before net Ilos80sllgalns on Investments Not Ilossesllgains Dn Inveslmenl8 1218.S841 181,8871 1106,4551 300,4511 1106,4551 (97, 706) 1,035, 628 Net18xpendltureVlncome Transfers between lund$ 1218,5641 218,664 1188,3421 1218,6641 1406,9081 938.522 13 Net movement In funds 1406,9081 1406,9061 938,522 Reconciliation of funds: Total funds brought fOnard Nel movement in funds 8,OSS,652 1406.9061 8.0S5,652 1406,906} 7.117,130 938.522 Total funds carrled fopward 7,648,746 7,648,746 8,055, 652 The notes on pages 1110 19 fom part of these financial slalemenls. Page 9
THE LISTER CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Note Flxed assets Inve$lment$ 7,655,745 7, 797,506 7,655,74S 7. 797,506 Currant assèts Debtors Cash at bank and in hand 11 20,358 26.618 20.357 256,099 46.976 27fj,456 Creditors.. amounts falling due wilhln one year 12 153,9751 (18,310) Nrf curront Ilabllltl85 l asset8 16,9991 258, 146 Total as8et81è88 current IlabSllt198 7,648,748 8,055,652 Net assets excludlng penslon assot 7,648,746 8,055, 652 Totsl n•t a8sèti 7,648.746 8,055, 652 Charlty fund• Expondable Endowment fund$ 7.648,740 8,055, 652 Total fund$ 7,648,746 8.055, 652 Th9 financial slalemenls were approved and 8ulhoris¢d for issue by the Trustees and signe(l on their behalf by.. The notes on pages 1110 19 form part of these financial statements. Page 10
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles 1.1 Basls of proparatlon of flnanclal statements The financial 51alemen15 have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Charities Act 2011. The finaneial stslemenls have been prepared lo give a Irue and lairf view and have departed from tho Charities IA¢counts and Report81 Regulations 2008 only lo the extent required lo provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since bèen withdrawn. The Lister Charilable Trust meets the definition of a public benefit enlily under FRS 102. Assets and liabili118s aro initially recognised at historical cost or Iransactlon valug unless Otheise slated in the relgvanl accounting policy. 1.2 Income All income is recognised once the Charity has enlrtlomenl lo the income. il is probable that the income will be received and the amount of Income receivable rAn be measured reliably. 1.3 Expendlture Expenditure is recognised once therè 1$ a legal or conslruclive obligation lo transfer economic benefit lo a third party. rt is probable that a transfer of economic bènefit$ will be required in selllemenl and the amount of the obligation can be measured reliably. Expendrture is ¢18ssified by aclivily. The costs of each 8clivily are rnade up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allributable lo a 9ingle activity are allocated directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not attribul8ble lo a single activity are apportioned beNveen Ih08e a¢livilies on a basis consislenl with the use of resources. Central staff costs are all¢xaled on thè basis of lime spent. and depreciation charges allocated on the portv)n of thè asset's U88. Expenditure on raising funds includes all expenditure incurred by the Charity lo raise funds for ils eharilable purposes and Includes costs of all fundraising aGlivilies events and non-charilable trading. Expenditure on charitable activities is in¢LJrred on directly undertaking the activities which further the Charity's objectives. as well a5 any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised 8s expenditure when the Conditions attaching are fulfilled. Grants offered subject lo conditions which have not been met al the year end are noted a$ a commitment, bul not accrued as expenditure. All expenditure 1$ inclusive of irrecoverable VAT. Page 11
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policios l¢ontinugd 1.4 Investments Fixed asset investments are a fomi of financial instrument and are initially recognised al their transaction cost and subsequently measured al fail value al the Balance Sheet date. unless the Value cannot be measured reliably in which case il is measured al ¢ost less impairment. Investment gains and losses, whether reali5ed or unrealised, are combined and presented as 'GainsllL05ses1 on Investments, In the Statement of Financial Activities. 1.5 Dgbtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.6 Ca$h at bank and in hand Cash al bank and in hand includes cash and short-lemi highly liquid investsnenls with a Short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.7 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, il is probable that a transfer ol economic benefit will be required in selllement, and the amount of the Settment can be estimated reliably. 1.8 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The charity has an expendable endowment fund which comprises the original donations plus the subsequent capitsl appreciation on the investments within the fund Investment management charges are charged against this fund Investment income, gains and losses are albcaled lo the appropriate fund. Page 12
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Investment income Unr8Strlcte d funds 2025 Totsl funds 2025 Tot81 funds 2024 Interest received - listed investments Dividend received listed inveslrnenls Inleresl rKeivod - unlisted investments Bank inlgre$l 405 58.999 77.000 5,668 405 S8,999 77,000 5.668 6,319 63,644 77,000 346 142,072 142,072 147,309 Total 2024 147,309 147,309 Investment management costs Endowment funds 2025 Totsl fund6 2026 Total funds 2024 Investment management fee8 81,887 81,887 72, 770 Tol812024 72, 770 72, 770 Analysls of grants Grants to In¥litutions 2025 Total funds 2025 Total lunds 2024 Grants paid 333,723 333,723 150,445 Total 2024 150,445 150,445 A list of grants payable during the year can be obtained from the Iruslees upon request. Page 13
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Governance costs Unrestrlcte d fund$ 2025 Total funds 2025 Total funds 2024 Bookkeeping and management fee8 Ind8pend8nl examiner fees Professional fees Bank charges Foreign exchange 18.376 4,200 228 450 3,659 18,376 4.200 228 11,8Q2 4,200 114 367 4,717 3,659 26,913 26,913 21,200 Total 2024 21.200 21,200 Analys58 of expendlture by actlvltles Governance costs Grants pald 2025 2025 Total funds 2026 Tot81 funds 2024 Direct costs 26,913 333,723 380,636 171, 645 Total 2024 21,200 150,445 177, 645 Auditors. r9muneratlon 2025 2024 Fees payable lo the Charity's auditor for the audit of the Charity's annual accounts 4.200 4,200 Page 14
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Trustees. remuneratlon and expenges During the year, no Trustees received any remuneration or other beneflts (2024- £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL), Flxed assèt Investments Ll8tsd Unll8t6d Investinollts Investments Total Cost or valuation At 6 April 2024 Additions Disposals Revaluation8 6,872,SOS 741,817 1500,9561 1382,6201 1,925,000 7.797,605 741,B17 1500,9661 1382.6201 Al 5 April 2025 5,730,746 1,925,000 7.865,74S Inve8tm&nts comprf8e: Total 2026 Tolél 2024 2025 J P Morgan investment portfolio Apperley Properties Ltd Preference Shares 5,730.745 1,925.000 5,730,745 1.926,000 5,872,506 1,925,000 7,655,745 7,655,746 7, 797,506 Realised gain during the year amounted lo £276,166 12024.. £37,284). Unlisted investments are stated at cost in the opinion of the Trustees. the market valuo would not be materially different from the cost. Page 15
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 202S 11. Debtors 202S 2024 Due within ong yoar Other debtors 20,358 20, 357 20,358 20,357 12. Crodltor8'. Amounts falllng due wlthln onè year 2025 2024 Other loans Trade cre¢Jilors Accruals and deferred income 30,000 19,775 4.200 78,310 53,976 18,310 Page 16
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 13. Statgmont of funds Statement of funds - current year Balance at 6 April 2024 Tran8fgrs Inlout Gainsl Balance at 5 ILog8è91 Aprll 2025 Income Expèndlture Unrestrlctsd funds General Funds- all funds 142,072 1360.6361 21B,$64 Endowmgnt funds Endowment Funds- all funds 8,065.652 181,8871 1218,5641 1106,4551 7,648,746 Total of funds 8,055,652 142,072 1442,5231 1106,4651 7.648,748 Statèment of funds- prlor yo•r B8lancg al 6 April 2023 Transfers in/oul Ggin Balance 81 (Losses) 5 April 2024 Incomg Exp8ndilure Unrestrlctsd funds General Fund$- all funds 147,309 (771, 645) 24, 336 Endowment funds Endowment Funds - all funds 7,If7,130 (72, 770) (24,336) 1,035.628 8, 055. 552 Totsl offunds 7,117,130 147.309 f244,415) 1,035, 628 8,055,652 Page 17
THE LISTER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 14. Summary offundg Summary of funds- currènt year 8alanee at 6 April 2024 Transfers Inlout Gains1 Balance at 5 ILossesl Aprll 2025 Income Expendlture General funds Endowrnenl fund8 142,072 1360,6361 218,564 8,055,652 181,8871 1218,5641 1108,4551 7,848,746 8,055,652 142,072 1442,5231 1106,4661 7.648,746 Summary offundty. prlor ygar Balance al 6 April 2023 Transfers in/out Gain Balance at (Losses) 5 April 2024 Incoma Exp8ndilu General fund$ Endowment funds 147,309 (171,645) 24,336 7,117, 130 (72, 770J (24,336) 1,035, 628 8,055,652 7.177,130 147.309 (244,415) 1,035, 628 8,055, 652 15. Analysls of net assats bétwaèn fund¥ Analysh of net assets botwe•n fund8 - current year Expendable Endowment funds 2025 Total funds 2025 Fixed asset investments Current assets Creditors due within one year 7,655,745 46,975 153,9751 7.655,745 46,97S 153,9751 Total 7.648.745 7,648,745 Page 18
THE LISTER CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 16. Analysis of not assats betsveen funds Icontlnuedl Analysls of net assots betwoen fund$ - prlor year Exp&ndable Endowment funds 2024 Tol81 funds 2024 Fixed asset investmènts Current assets Crodilors due within one year T, T97, 506 276,456 (18,310) 7, 797, 506 276,456 (18,370) Total 8,055, 652 8,055, 652 18. Related paty tranJactlon8 During the year, the charity received bookke&pin9 services from a company in which a Iruslee has an interest. The amount paid was £18,37612024 - £11,8021. Al the balance sheet dale. the amount outstanding and included within creditors was £19,54612024 . £14,410) The prèleron¢8 shares held by the charity are in a company In which a Iruslee has an Interest. These Sharos granted interest income of £77.00012024 - £77.0001, Al the balance sheet date, the amount due from and included withn dgblor6 was £20,35712024 - £20,357) Paoe 19