Charlty regSstr•llon number 327013
THE M J SAMUEL CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2023

THE M J SAMUEL CHARITABLE TRUST
LEGALAND ADMINISTRATIVE INFORMATION
Trust••s
Thè Hon. Mlchael J. Samuel
Th& Hon. Mrs Julia A. Samuel
w8￿Unt 8&arsled
Charlty numb•r
327013
R•gl$t•red office
Mell8 Park
Mells
From&
Somgrs8t
8A113Q8
Ind•p•nd•nt •xamln•r
Cdtchlays Audlt LLP
88av6r House
23.38 Hylh8 Brfdge Slre61
Oxford
OXI 2EP
Bank•rs
C. Hoare & Co
37 Fleet Slretl
London
EC4Y 1 BT
Inv••trn•nt advl•orn
Wav8rton Investment Management Ltd
16 88bm8as Street
London
SW1Y 6AH

THE M J SAMUEL CHARITABLE TRUST
CONTENTS
P•9•
TNsl•ès' report
&al•monl oltrusle•s' r•$ponsiblllUg$
Ind•p•nd•nl •xamin•rf8 l•POrt
Statem•nt of finand81 gthlti•J
7-12

THE M J SAMUEL CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their annual report and financial slalernenls for tho ygar ended 5 April 2023.
Thg finan¢ial statements have been prèpared in accordance with the accounting policies sel out in note 1 to Ihe
financial slalemenls and Comp￿ with the charity's Igoveming documenll, the Charili&s Act 2011 ond 'A¢counling
and Reporting by Char¥tie5.' Slat•menl ol Recommended Pra¢li¢ts applicable lo charities preparing Ih•ir accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021"
1*ff￿Ne 1 January 20191.
Tho M J S8mug1 Charilabltr Tru$l 1$ 8 ¢harlty regiilarad wllh Ihtr Charfty Commis6lon und•r r•gS$tralion nUM￿r
327013.
Objeclivfr5 and aetl¥lll•s
Tho Iruslees have discrelion lo pay Ineomtr OT capital lo any chartlable body or for any c*arltable purpose •lth•r
natsonally or oversga$ a$ they see fit.
Th8 trust￿$ confirn Ihal they h914• r•f•rrod lo the gvid•nc• conlain•d in th• Charlty CommiBoion's general
guidan¢e on pvblic benefit when rewewing Ihtr Irusl's aims and objectives, and in planning fvlure aclNiliès and
tting gr*nl Ma￿n9 polirA•g.
Achl•v•m•nts and p•rlorm•ne•
Flrton¢i•l rnvl•w
The finanual stalem•nt$ $how invg$tmonts al m¥fk*t valu&. Losses on invtrstmenl revaluations and di$p05als in the
y¢ar arnounl•d lo £78.796 12022., Gain of £220,577). Inv*$lrnenl man•gomenl fee$ of £15.496 12022.. £18.5771
wef• paid in the year. Investment incom8 for the y•ar arnount lo £SO.169, a de¢reasg of £4,406 on the year beforo
{Inv•$b77•nl In¢om• 2022.. £54,57S).
£28.157 {2022.. £30.1241 was spent on govemanc• costs during th• y•ar. Charlt•bl• donalioni of £508,216 w•r•
made In the year {2022'. £1,128.799).
The truste85 consider th81 thg fitnd has sufficient rosoufces avallabl8 lo conlinue to meet th& obj8ctivg$ ol the fvnd,
in paitirJJlar lo provide grants lo sp8ofic projecls.
The polry ol the Injslees 1$ to make grants lo partl¢ular prolects èach year broadty wllhln th• annual In¢om• of th•
fund. They tlo not therefore $&0 any need for a re6erve fund.
Th• pow•r8 of th• tru8l•iJ8 which th•y 4r• govorned, Indudlng the powors of In￿sIment, are 8•1 In lh• IN81
The tnJ$lees intend that the real value of their assets be mabnlained and enharThd over Ihè long t•nn by Investment
in ¥ portfolio comprts•d of equilies, fixod incom• slocks, and cash. For the purpos•8 of Ihts charity, thè tru810¢8 wish
lo withdraw a sum ea¢h year lo meet Iheir expenditure. The withdrawals may bo mgt from income or ¢apital.
The Iruslees have assessed the major risks lo which Ihe ¢harity Is exposed, in particular those ￿lated lo Ihg
investment strategy. They are satisfied Ihal adequale pro¢edurg8 are In place lo millgale exposur8 lo the8? ri8ks.
structhrn. governanco and manag•mont
The trust was sel up by the settlor, Ihè Hon M J Samuel. by 8 d8ed dalod 2 December 1985.
Th• trust￿3 who Served durfng the yoar 8nd up lo Ihts dale ol 8lgnalure oflhe financlal slalèments wore..
The Hon. Michael J. Samuel
The Hon. Mrs Julia A. Samu81
Viscount Bearsted
The power of appointment of Ihe new tru$le¢s Is v8sled In the settlor durlng hls Ilf•llm•.

THE M J SAMUEL CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Tho trustees are the original trustèes of the trust. ￿en rewiling new trustees the settlor will bjok for indivSdu818
with skills and experience which aré of valu* lo Ihe trust. Any prospective Irusletss will be inteMew•d by th8 seltlor
and prowded with a pack ol inlomialion induding the mosl recent accounts and a copy of the Irusl deed.
The trustees are highty experienced individuals and have a good understanding of what is involved in being a
Irusiee of a charity.
The truste•s havè regular ¢onlacl during the y&8r lo ¢onsider recommendations for, and mak• final decisions on,
the awarding grants.
Rlsk Maftag•mènt
The trustee5 have assessed the major ii$k5 to which the eharity is exposed, in particular those related lo tho
investmènt strategy. They are sats"sfied Ihal adequat• proc&duro$ 8r¥ in place lo miti'gate exposure to thgs8 risks.
Inv•8tm•nt Strat•w
The powers of the Trustee5 by which they are govemed. induding the powers of inveslment. arg ￿t out in the Trust
Th• Trustees inlend th•1 the real value of their assels be mainlained and enhan￿d over the long tern by
investrnenl in a portfoliD c))mprised of equities. fixed income stocks and cash. The withdrawals May be mel from
income 01 caprtal.
The trust
pproved by thè Board of Trust￿$.
The Hon.
Ichael J. Samuel
iolo!J2O.F......

THE M J SAMUEL CHARITABLE TRUST
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 5APRIL 2023
The trvslees are responsible for preparing the Trustees, Report and the financAal statements in accordance with
applicable law and United lQngdom Accounting Standards (United Kingdom Generally A￿pted Accounting
Pra¢li¢el.
The law applicable to tharilies in England and Wales requires the trustees to prepare fin8n¢ial statemerts for each
finanaal year which gwe a Irue an¢J fair view of Ihe stata ol affairs of thè charity and of Ihe incoming resources and
applicaknon ol rg$our¢e5 of Ihe tharfty for that year.
In preparirsg thes& finanoal statem&nts, the Iruslees are required lo..
select suitable a¢cA)unting poliaes and then apply them consi51ently.'
- obserye the methods and printyplès in Ihe Charities SORP..
- make judgements and ests"male5 that are reasonable and prudenl..
statè whether applicable a¢¢ounling stsnd¥rd5 have been folknved. svbiect to any material departures disclosed
and explained in the finanryal 51atement5,' and
p￿pare the finantaal $latèmènt$ on thè going cKJncem basis unless it is inappropriate to presumo that the ¢harity
11 ojntinue in opetsbon.
The tru5tee5 are responsible for keeping svfficienl accounling records that diselosé wtth rèasonablè aeeuraey al any
time the finanryal ptssition of the charrty and enable them to ensurè that the financial ststements compty with thè
Charilies Acl 2011. the Charty (Accounts and Reports) Regulations 2008 and the pro￿s1OnS of the trust deed. They
a￿ also responsible for saleguarding ihe assets of the chanty 8nd hen¢¥ for lakin9 reasonable steps for Iht
p￿ventiOn and detec*on of fraud and other irre9ulartti•$.

THE M J SAMUEL CHARITABLE TRUST
CRITCHLEYS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE M J SAMUEL CHARITABLE TRUST
I report lo the InJst80$ on my examination of tho financial sl81gmgnls of Th8 M J Samvgl Charitable Tw$1 (the
charity) for th& year ended S April 2023.
Responsibllitl9$ and basis of rnport
As the Iruslees of the charity you a￿ respon51ble loi the Pfeparation of the financial ststements in accordance with
the requir&mènl$ of the Charities Acl 2011 Ilhe 2011 Act).
I report in respect of my examination of th¥ ¢h8rity's financial slalemenls ¢arriad out under section 145 of the 2011
Act. In car￿.n9 out my examin3tion I have followed all Ihe applicable Direclion5 given by the Charty Commission
under seth'on 14515llbl of the 2011 Act.
Inde￿ndent examlnerf5 Statsmènt
I have completed my examination. l confirm that no matters have comtr lo my ait8ntion in conned•)n with tho
examination giwng me cause to believe that in any rnalerial respe¢l'.
aC￿Unting reeords were nol kept in respèct of the charity as required by section 130 of Ihg 2011 Act., or
the finanrAal statements do not accoTd with those records.. or
the finane4al s¢ai¢ments do nol comply wilh Ihe applicable requirements Conceming tha fom) and content of
accounts set out in the Charities (A¢￿untS and Reports) Regulations 2008 other than any requirement that the
accounts gi￿ a Iruè and fair view which is not a malter considered as part of an Ende￿nd*n¢ &xaminalion.
I have no concerns and have ￿me across no other matters in ¢onne¢lion with the examination to which attention
should b8 drawn in this report in ordw to ènablè o prop¢r urtd¢rstan¢Ying ol Ihtr fin*nrAal slaternenls lo be reachod.
Alexander Tomknnson ACA
Crrtchltys Audlt LLP
Beaver House
2>38 H￿￿* Bridga Street
Oxford
OX1 2EP

THE M J SAMUEL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2023
Unr•8trlet•d UnroBtrfctsd
funds
funds
Incom•
¢apltal
2023
2023
Total Unmtrlcted Unrn•trlet
furids
funds
In¢om•
capltsl
2022
2022
Total
2023
2022
NolÈ$
In￿StMentS
50,169
50,169
54,575
54,575
Raising fijnds
15.496
15,496
18,577
18.577
Charita￿¥ arfiwtitrs
1.166,956
1,166,958
538,340
538.340
Tol#l expendEtur•
1,182.452
1.182,4S2
$56,917
S56.917
Net gains1O9sses1 on
investrnents
178,796)
178.796)
220,577
220.577
Gross transf•rs befvlean
funds
Net movement In funds
268.652
178,7961 11.211.079) 1233.690)
(268,852)
148,075) 1281.76SI
11.132,283)
Fund batances at 6April 2022
632,124 2,595,119 3.227.243
865.814 2,643,194 3.509.008
Fund balanc￿ at S April
2023
1500,1591 2.516,323 2,016,164
632,124
2,595.119
3,227,243
The statement of finanrAal acliwlies incfudes all gains and losses recognised in Ihtr year.
The stslemerrt of finontial activities indudos 011 yains and losses rg¢ognised in the year. Al in¢ome and expen¢Jrture
derive from continuing activities.

THE M J SAMUEL CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2023
2023
2022
Notes
Flx•d a$s•ts
Investments
11
1.870,827
2,595.119
Current ••••t•
Debtors
Cash 31 bank and in hand
12
3,220
164,217
681,575
40,549
167,437
702,124
Cr•dltr*r¥: amounts f•lllng du• wlthln
on• y•ar
13
122,1001
142,5001
Nel oJrrenl 8s8trt8
145,337
659.824
Totsl ••Mts l••• ¢urr•nt Il*bllltl••
2,016,164
3,2S4.743
Cr￿lt0￿. •mounts falllng du• aft•r
morn than on• y•ar
14
(27.5001
N•t a•••ts
2.016,164
3.227.243
lThcom• fund•
Unr*$trid•d fundE- capital
Unr•8tyithd funds- in¢omo
2,516,323
1S{KI,159}
2.59S,119
632.124
2,016,164
3.227,243
Thtrfinan
em•nt8 wgro approv•d by the Tru81oa8 on..iol 01.1.2o.L4-
The Hon. Mi¢h8el J. Samuel
Tru•ts•

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
A¢¢guntlng pollcl••
Charlty Infomatlon
Tho M J Samuel Chariiable TNSI Is a Cha￿Y Set up In England and W8108. It's regislere(J address iy Me115
Park, Mells. Frome, BA11 3QB.
1.1 Accounttny conv•ntton
The finanual slalemtnls have been prepared In accordance wlth Accounting and Reportlng by Charflles..
Statement ol Re￿rnMended Practice ISORP 20151 appllcable to charities preparing their 8c¢ounts In
accordan¢e wilh the financi81 Reporllng Sland8fd appll¢abl8 In the UK and Republic of Ireland IFRS 1021
lèffeciive 1 January 20191. a$sel$ 8¢¢9unl$ are prepared under the hislortcal cost convention. except for
investmenls which afe shown al marktrt value, and in ¢omplianc8 with all applicabl• 8ceounting standards and
the Charilies Act 2011.
The finanaal statements are prepared in slerfing. wh￿h is the functional currency of th* ehority. Monotary
amounts in thèse financial $laltrmgnl$ 8re rounded lo thè nèarest £.
The finanfjal slalemenls have been prepared under th& hlstorical cost ￿nventIon. Th& P￿n¢1paI ac¢ounling
poli(Aes adopted are set out bèlow.
1.2 Go5ng concern
Al the b.me o13pprowng the finanrjal slatemenls. the Iruslees have a reasonable expectats'on that Ihtr ¢harity
has adequate resources lo continue in operational existence for the foreseeable fulufe. Thus the Irustees
conts.nue to adopt the going concern basis of accounting in PTaparin9 Ihe financial statemènts.
lj Ch4rftabl• funds
The unrestncted fvnds ctf the charity may be used at the discretion of the INslees and used to make grants as
they see fit The money for the funds origin8ttsd wh&n the seWor donated monie5 to the chaTIty.
As all inc￿rne is unTeslrided, il was decided that th8 fund note ft>r the a￿Ount5 was nol required.
1A In¢ome
Income is generalty T9￿gnIsed on a receivablg basi$ and rgportgd gross of related expenditufg. ￿ere the
amounts are reasonably certain and when there is adequalg certainty ol receipt.
The toll¢)wing spec4fic poliaes are applied lo the particular calegoiies of income..
Income arising on investments, together with any a55ocialed tax credit i¥ rgcognlsed in the year In
which il is re￿1Vable.
Intere$led on depo811 ac¢ounls Is ¢rgdllgd In th& par in which it is rocglved.
1.S Eyndlturn
Expendrture is a¢¢ounled for on an acrJuals basls and gross of any related Income. Costs are dassilled under
headings that aggregate all costs relaled lo th8 cal890ry. Where CA)sls cannot be directly attributed to
paiti¢vlar hgadings, they have been allocated lo actwllles On a basls ¢onslslenl thè use ol resource5.
Costs of charitable activty comprise direct expenditure induding donations
Expenditure on donationsl gT8nts Is r¥cord0d on¢e the tnjsl has made an uneonditlonal ¢x+mmitmtint
lo pay the donations and this communicated lo Ihg beneficiary or th* donatlon has bg*n paid.
whichever is the earlier
Govfrmance cosls include those costs. such as independent examinerf8 fe98, ¥$8OCi¥t¢d with
¢on$titutional and slatulory roqulremenl$.

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED
FOR THE YEAR ENDED 5 APRIL 2023
Accountlng poli¢i•¥
Icontinuedl
1.6 Fixed asset investmènts
Investments are slated al their middle-markel values ruling al the balance sheet date. Al gains and losses are
taken lo (he Slatemonl ol Financial Actiwlies as they arise. Realised gains and losses on investments are
calculaled as the difference be￿een sale5 proceeds and openlng market value Ipurchasè dale if 18ltrl.
Vnrealised gains and losses are calculated as Ihe difference be￿e￿n the market value at the yèar end and
opening mark&l v3lue (or purchase dalè if latafl. Realised and unrealised gains are not sep8r8tad in the
Slalement of Financial Actiwties.
Income arislng from these inveslments is 8ccounled for when rt is rectrivable.
cri15￿1 accounting g¥timats¥ and judgom•nts
In the application of the charity's accounting policies. the Iruslees are required lo make judgements, estimates
and assumpt￿n$ about the carying amount of assets and liabilities that are not readity apparent frLim other
sources. The esb"mates and assoaaled a5surnplion$ are based on historical experience and other factois that
ar¢ eonsidered lo be reltrvant. A¢tual re$utts may diff•r from these estimates.
The estimates and undedytng a$$umplions are rewewed on an ongoing basis. Rewsions lo accounting
estsmales are reco9nised in the period in which the eslirnale is revised where the rew5ion affects only that
period, or in the period of the rews¢on and future periods where the revision affects both current and future
p•riods. The trustees cnnsider the investrnent valuation to be the main accounting estimate in th• financial
Stalèmèr￿.
Income from Inve$lm•nts
Unre8trl¢ted Unr•$trl¢ted
fund>
fund$
2023
2022
Quoted inv9strn￿tS
50,169
54,575
Exp0ndl￿rn on ral$lny fvnd•
Unrèstricted Unr•$trl¢t
funds
lunds
2023
2022
Investm•nt manog•m&nt
15.496
18,577

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5APRIL 2023
Exp•ndltur• on charftabl• •ctiv6tl•$
Ch*rFtsbl•
Charftabl•
•xpendltur• •xpondltur•
2023
2022
Dlr•¢t eo*ts
Grant fijndlng of actMlSes {$ee nol6 61
1,138,799
$08,216
Sh•rv of 8UPPOrt and gov&rnanc• co•ts {••• not• I
Govemanc•
28,157
30,124
1,168.956
538,340
Anal￿1* by fund
Unr•slri¢t•d fund¥
1,166.956
538,340
Gr4nts pay*bl•
Ch•rftabl•
grants
2023
Ch•rrtabl•
grants
2022
Chefs In Sthools
N•tiono1 Trust
Somers81 Communrty Foundalton
Pmspeci Burma
Historic Royal Pal4¢0
B•it Halochem
Anna Freud C•ntr•
Gbbal Green
Chalke Vall
Cl•s$ Wo$t•m
Kin98 Colk•ge London
c1￿c
4 {2022.. 51 other donations ol less than £1,000 ead)
1.800
5,950
16,449
10.C4JO
2.610
Is,fy)o
1.250
2.201
25,000
550.000
2.155
500
1,500
1.105,000
2,600
1,138,799
613,718
Less amount$ previously commltte(I lo now ¢anc811ed:
Prospect Bumia
Thg Defenca and National Reh8bililalion Cgnlr?
In51ilule Cancer Re6e8rth
Royal M8rsden
(35,5001
110.C4JOI
(lo.￿0)
Iso.0001
Grnnls Payable
1,138,799
508,216
Govomance CoBI8
28,157
30,124
1.186.958
156.966

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 5APRIL 2023
Trust8•8
None of the Iruslees lor 8ny persons connected wllh them) recefved any remuneration or benèfts frorn the
charity during the year.
Employ•••
Th• av•r•9• monthly number ol omploy••s dudng the year wo8..
2023
Numbor
2022
Humb•r
Tot
There were no employo9s whose annual remungration was more than £60,OCKJ.
N•t g•ln•llloM••l on Inv•8lm•nts
unr•st￿¢t9d Unrestricted
fund•
funds
¢•pltal
capitsl
2023
2022
R•v•lu•lion of Inv•8tm•nl8
C18,796)
220,577
10 T￿￿tion
Th• is exempl from laxallon on actlvllles because all Its In￿me Is appllèd lor charflablg putpo488.
10.

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
11 Fi￿d a8S•t InvKtmènts
Invostments
Cost or valuation
Al 6 April 2022
Additions
Valuation chang9$
Cash movement
Disposals
2,S95.119
490,252
178,796}
(252,238}
{883,511}
Al S April 2023
1,870.826
Carying amount
At OS April 2023
1,870.826
Al 05 April 2022
2.595,119
12 Debtorn
2023
2022
Amounts falling wlthln on• year.
655.cq
6.575
PRpaym8nts and income
3,220
3.220
661.$75
The bond of £Nil {2022.' £655,000} was an uns8cured dabt with Civic Ltd whl¢h matured on 16 August 2023.
Thore is zero interest receThiable on the bond.
During the year, the Bond was ¢ancAled and ha5 been Induded as grant ex￿nditure In the financial
statements.
13 Cr•dStor¥: amouftts falllng du• wlthln one year
2023
2022
Grants payabl¥
Accruals and def•rr&d income
12,500
9,600
9.500
22,100
42,500
11

THE M J SAMUEL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
14 Crndltorn: amounts falllng due aft•r mor• than one y?*r
2023
2022
Gr8nl$ payable
27.500
1S Analy•l• of n•t a•i•ts bolW￿n lund¥
Unr08tr1cted
funds
2023
Tot41 Unrgstricted
fvnds
2022
Total
2023
2022
FLtnd balan￿$ al S Aprll 2023 are fopres8nled by..
Investments
Current asset￿(119tslliI108I
Lon9 l&m) Iwbilrtt'&s
1.870.827 1,870,827
145.337
145,337
2,595,119 2,595,119
659,624
859,624
127,5001
127.$001
2.016,164 2,018.t04 3,227,243 3,227,243
16 R•l•t•d p•ty tran•aetlon•
TrnnuclSon• wlth r•l4t•d partl••
The Hon. Mi¢hao1 J. Samuel. who is g Trustee, is on• of three Dlredors of Clvtc Ltd, and as such Is
consKlered to hav• 819nificanl intluonce 0￿r the enirty.
In the year donation$ were paid lo Civlc Lld lolaling £l.105,00012022.. £550.000). A8 01 th• y•ar •nd th•r•
was £Nil12022.. £NIll commrtted lo donate lo Civic Ltd.
Al tho year end Ihwe was an oulslandlng bond held by Thg M J Samuel Ch8dlabl8 Trust from Cl¥l¢ Ltd whlch
totaled £Nil12022'. £655,000). There 15 zero inter*81 r8c•ivabl¥ on th• bond. Th¢ bond 18 an un8ecurod debt
which matures on 16 Augu812023. The M J Samuel Charitablè Trusl may redeem the 8ond al any lirne before
th• maturity dale 8ubj•ct to 60 d8y$ written notice of redemption lo Ciwc Ltd.
12-