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. respons1blll￿8S
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 p￿parIng 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 Regulat￿nS 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 AC￿pted 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
R￿ornMended 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$13 of these financiol slalemenls.
Irregularities, including fraud, are instsnces Of non-complianco with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities,
including fraud, The exlenl lo which our procedures are capable of delecling Irregularrties, including fraud is
detailed below.,
The objectives of our audit are lo identify and assess the risks of material misslalemenl of the finan¢141
slalemenls due lo fraud or error,. lo obtain sufficient appropriate audit evidence regarding the assessed r￿Sk8 of
material mis51alemgnt due lo fraud or error.. and lo respond appropriately to those risks. Owing lo the inherent
lirnitations of an audit. there is an unav0idabl8 risk that material mis$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
Ex￿ndIture 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 fOn￿ard
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 Othe￿ise 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 Sett￿ment 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 with￿n dgblor6 was £20,35712024 - £20,357)
Paoe 19