The Ken & Edna Morrison Charitable Trust
Trustees, report and fmancial statements
Registered number 327639
5 April 2024

The Ken & Edna Morrison Ch&ritable Tn￿t
TNslees' rewrt and f]nancial stat¢rnents
5 April 2024
Contents
Trustees, Report
Statement of trustees. responsibilities in respect of the Trustees, Teport and the financial statements
Independent Examinerfs report to the members of The Ken and Edna Mo￿lSOn Charitable Trust
Statement of flnancial activities
Balance sheet
io
Cashflow Siatement
Notes
12
Registered number 32763915 April 2024

The Ken & Edna Mo￿ls0n Charithble Trust
Trns*es' reEYirt ?￿d fJ3Ydneia] stateTnenls
5 April 2024
Trustees, report
Reference and administr4tive details
Trustees
Eleanor Marie Kernighan
William James Duncan mO￿lSOn
Coverning doeument
Deed of Trust dated 5 May 1987
Registered address
clo Haddocks Farni
HaddoGks Lane
Myton on Swale
York
Y0612RB
Bankers
C&ttcr Allen Privalt Bank
PO Box 826
Bradford
BDI SUL
Investment Mgn4gers
LGT Wealth Management Limi*d
14 Cornhill
London
EC3V 3NR
Accountsnts
KPMG LLP
I Sovereign Square
Sovereign Street
Leeds
LSI 4DA
Independent Examiner
Mr M Walker
4 West Winds
Menston
LS29 6QD
Registered number 327639 15 April 2024

The Ken & Eth￿ Morrison Charitable Trust
Trnstees, report and financiaj statements
5 April 2024
Trustees, report (conlinued)
The trustees present their Teport along with the financial statements for the year ended 5 April 2024. The financial
statements have been prepared in accordance with the accounting policies set out on pages 12-13 and comply with the
trust deed, Charities Aci 2011 and Accounting and reporting by Charities.. Statement of Recommended Practice in
accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland {FRS 102).
Prlneip*l risks and uncertginties
Finaneial rlsk m#nagemenÉ objectives and policies
The Ttust uses financial inslruments comprising cash and investments. The main PUTpose of these is to finance the
working capitsl of the Trust and the longer-tem income and capital needs.
The Trust eongTrders movements in investment prices and returns to be its main risk. This risk is mitigated by using an
invesitnent fund manager and having a diversified investment portfolio.
Objectives and activities
The objectives of the trustees are to apply the incoming resources of the Trusl by making grants for the benefit of one
or more charitable institutions or individuals, including but not restricted to people with a disability or special needs,
education, training or for such oiher charitable purposes at the trustees, discretion. The capital may be applied for
charitable purposes or retained by the trustees at their discretion.
The trustees identify projects and organisalions they wish to support. Requests from people or organisations who apply
speculatively will be considered if they are pertinent lo the Trust's objectives. Unsolicited requests from national
cl)arities will generally only be considered if there is some public benefit to the Yorkshire region. The trustees ￿$0
have a policy thal they make only one-off grants with no guarantees of future funding.
The Charity does not cary out fundraising activities.
Publlc benefit
The trustees are awa￿ of the Charity Commission's advice on Charities and Public Benefit. The trustees confim) that
they have referred to the guidance Contained in the Charity Commission's general guidance on public benefit when
reviewing the Trust's aitns and objectives and in planning future activities and setting the grant making policy for the
year. The trnstees do not discriminate against any party when considering their grant making policy.
The benefits of the charitable activities of the Trust are primarily to a section of the public in accordance with the
charitable objects described above in the trustees, objectives and activities.
Achievements Ind performance
a) Review of 4¢tivi¢i¢s and financial review
The main activity in the year is grant making. During the year the trustee5 made, or committed to rnaking, grants
totalling £175,438. There were 17 grants of value between £2,000 and £48,000. The list of grants is detailed in note
The donations were made to a variety of charitable institutions. A brief description of three of the largest donations
are as follows:
A grant of £48,000 was made to Marie Curie (Bradford Hospice). The grant was used towards their nursing servi¢e in
the Marie Curie Bradford Hospice to enable the Hospice to ￿nd two Marie Curie Nurses. This will benefit the publi
by enabling Marie Cure Bradford Hospice to provide 5pe¢iv41ist care and support to those living with atemiinal illnes5,
and their families.
A grant of £20,000 was made to Mind in Bradford. The grant was used to support Mind's wellbeing service in
Bradford, in parliGular to help fund Know Your Mind which provides one to one 5UPPOrt for young people with
additional ne¢ds in Bradford District. This will benefit the public by enabling Mind in Bradford to support young
people in Bradford experiencing mental health issues from early intervention through to crisis support and r¢¢ov¢ry.
A grant of £20,000 was made to Yorkshire Air Ambulance. The grant was used to fund the daily costs of consultant
doctors who are part of the flight crew. This will beneflt the public by enabling Yorkshire Air Ambulance lo continue
to provid¢ a life-saving rapid response emergency service to Yorkshire.
Registered tiumber 32763915 April 2024

Th¢ K¢n & Eth)a Morrisoll Charitablc Trust
Tn￿tees, report and financial statements
5 April 2024
Trustees, report {conlinued)
Total expenditure exceeded income in the year by yeaT by £19,785 (2023.. expendilt4re exceeded income by £27, 154)
Investment gains (realised and unrealised) amounted to £405,092 (2023.. imiestment losses of £501, 089) to give an
overall incre&8e in funds of £385.307 Q023.. decreaye of£528.243).
b) Investment policy and performance
The Trust's investment policy seeks to achiev¢ a balanced retum from income and ¢apital appreciation whilst
controlling the level of risk.
The investment income, which is the source of funding for the trust, was £182,098 (2023.. £205,516) and there was an
increase in the value of the investments over the year of £405,902 (2023. decrease of £501,089).
The results for the year are given on page 9. The trustees Consider the results for the year to be satisfactory given
current market conditions.
c) Plans for future periods
It is the intention of the trustees thal the income of investments will be used for charitable purposes in acwrdance
wilh the objectives and strategies of the Trust.
The charity's grant making is funded out of invegtmenl income and the charity does not undertake any fundraising
activities and therefore does not have a fundraising policy.
Future grants will include small donations (on application) to causes within the objectives and also larger donations
to projects or organisalions thal the trustees have identified. The plan for the futur¢ is to donate a5 much as possible,
to deserving applicants, to a level that btDadly matches the annual incom¢ reGeived. Ihus enabling the Trust's funds to
be maintained at a steady level.
Other policies
A) Reserves poliey
The trustees intend to dislribute Ihe npA incoming resources, which relale to invesiment incotne and realised
8ains/losses, arising from yearto year, although the trustees have the power to accumulate all or part of such incoming
resources for investment purposes or ￿t￿re Brant Inakin8 as they see fit.
b) Prin¢ipal funding
The trustees are satisfied that the Trust's assets are available and adequate to fulfil its obligations.
Structure? govern4nee, xnd mgn8gement
A) Constltution
The Ken & Edna Morrison Charitable Trust is an unincorporated Charity (registered charity number 327639)
established under a Trust Deed dated 5 May 1987.
b) Method and of appointment or election of trustees
The power of recruiting and appointing future trustees vests with the current trustees. The Cu￿ent trustees are listed
on page 3.
e) Poliei&* Adopted for induction
The trustees are mindful of their duties in connection with the induction and training for trnstees and the t￿Ste¢S are
Ltndertaking appropriat¢ training and advice in relation to being a Charitable trustee.
d) Organisation stru¢ture and decision making
At annual trnstee meetings. the trustees collectively agree the broad strategy and areas of activity for the Trust,
including those of grant making. investment and risk management.
The trustees are empowered by the Trust Deed to apply ihe income of the Trust for any charitable putFQ5e they think
fit subject to the objects of the Trust.
R¢gi$tered number 32763915 April 2024

The Ken & Edna Morrison Charitable Trust
Trustees, report and f￿anCIal statements
5 April 2024
The trusteeg have the same full and unrestricted powers of investing and transferring investments as if th¢y are
beneficially entitled to the Trust Fund.
e) Key management personnel reD]uneration
The Trnstees are responsible for the day to day running of the Trust and are deemed to act as key management
personnel. No trustees, or p¢rson with a faTT]ily or business connection with a Iruslee, received remuneration in the
year, directly OT indirectly, from the Trust (2023- £nil).
Risk mAn*gement
The trnstees have reviewed the effectiveness of internal controls and are happy with the controls in place given the
simple nature of the Trust. There is also currently no need for an internal audit function given the straightforward
nature of the Trust.
By order of the Ixiard
William James Dunc4n Morrison
Truslee
Registered number 32763915 Aprs12024

The Kcn & Edna Morrison Charitabl¢ Trust
Trustees, report and fmaneial stalcments
5 April 2024
Statement of trustees, responsibilities in respect of the Trustees, report and the
rinancial statements
Under the trust deed and charity law, the trustees are responsible for preparing the Trustees, Report and the financial
statements in accordance with applicable law and regulations. The trustees have elected to prepare the financial
stalements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporling Siandard
applicable in the UK andRepublic ofJreland.
The financial stalements are required by law to give a true and fair view of the state of affairs of the charity and of ihe
exc¢ss of expenditure over in¢ome for that period.
In preparing these financial statements, generally accepted ac¢ounting praeti¢e entsils that the trustees:
select suitable accounting tK)lioies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been
followed. subject to any material deparfures disclosed and explained in the financial statements.
state whether the financial statements comply with the trust deed, subject to any material departures disclosed
and explained in the financial statements.
asse55 the charity's ability to continue as a going ¢on¢ern. disclosing. as applicable, matters related to going
concern. and
use the going concern basis of accounting unless they either intend to liquidale the charity or to cease
operations or have no realistic alternative but to do 59.
The trustees are required to act in accordance with the trust deed of the ¢harity, within the framework of trust law.
They are responsible for keeping proper accounting records, sufficieni to disclose at any time, with reasonable
accuracy, the financial position of the charity at that time, and to enable the trustees to ensure that. where any
stat¢ments of accounts are preP￿ed by them under 5CCtion 132(1) of the Charitie5 Act 2011. those statements of
accounts comply with the requirements of ￿gUlatiOnS under Ihat provision. They are responsible for such internal
control as they deterniine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or e￿Or, and have general responsibility for taking such steps as are reasonably
open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Registeted nurnb¢r 32763915 April 2024

I report on the accounts of the Tn￿1 the year 5 ApJil 2(Y24. whJ¢b are sd out (m EBges 9 to ] 5.
required for this year under section 144(2) of the chariti￿ Art 2011 (the 2011 Act) and that an sndependa
¢xaminaSion is need
to follow the PTl￿edureS laid down in the General DiTectsonswven by the communicatson under seLtion 145(5)(b)
the2011
J5a$ty ol.the Independent li¥aminer'J Meport
My exfiffiirbation was carried out in accA)rd&ncc with the General Directions given by the Charity Commissioners. An
seeking explanations trom you &s trustees concerning any such matters. 1'he procedures utmlertaken do not provide all
the evidence that would be r￿uIr￿A in an audit. and consequently no opinion is given as to whether the arxounts
present a and fair. view. and the report is limited to those mattus Sel out in the Ststement below.
knaepenoent Sl*teiiittii
In ￿nnectIOn with my ffxamitiation. no matter has rme to my attention..
(l J whith gives n)e re&wwble ca￿e to believe that in any matttial rtspecl the re4ulran￿ts
to keej) a¢wunting recA)rds in acLx)riYance sertton ljts ot Ihe 2UI l Act
to prepare the accounts which accord with the aecL)unting records and to comply with the accounting
iequirem¢nts of the 2011 Act
h&ve not tRen met or
(2) to which. in my opinion. attention should be drawn in Ord￿ to enable a proper understsndin8 of the accounts to
be reached.
r M Walkff
Menston
LS29 6QD
202f

The K¢n & Edna Morrison Charitsble Trust
Trustees, report •nd financi21 statements
5 April 2024
Statement of financial activities
for theyear ended S April 2024
Total
2024
Totsl
2023
Noie
IDeome and endowment$ from:
Investrnents
Other income
182,098
640
205,516
628
Totsl Income and endowments
182.738
206,144
Expenditsre 0￿.
Charitable activities and governance
Raising funds (inyesiment managem¢ni)
(179,677)
{22,846)
(210.1751
{23.123)
Total expenditurc
(202,5231
(233.298)
Net gainsJ(losses) on investsnertts
405,092
{501.089)
Net incom¢l(¢xp¢nditur¢)
385,307
(528.243)
Net movemeDt in fund8
385,307
(528,243)
Rttonrlli#tiOll Df funds
Funds at 6 April 2023
5,609,779
6,138,022
UDd5 llt S April 2024
5,995,086
5,609,779
Regist¢r¢d number 327639 15 April 2024

The Ken & Edna Mo￿lSOn Charitable Trust
Trustees, report and financia] statements
5 Apiil 2024
Balance sheet
as ot 5 April 2024
Nole
2024
2023
Fixed assets
Investmenls
Cash investrnent
5,857,565
137,241
5.152.071
424.709
5,994.806
5.576,780
CurreDt ass¢ts
Cash at bank and in h8nd
Debtors
184.637
574
125,435
554
185,211
125.989
Credltors: amounts f4Uifjg due within one year
(184,931)
(92,990>
N¢1 ¢yrr¢nt assets
32.999
Nti assets
5,995,086
5.609,779
These financial statements weypproved by the board of trustees, on 23'",1'*￿4
and were signed on its behalf by:
William James Duncan Morrlson
Jruslee
Eleanor Marie Kernlghan
Truslee
Registered number 327639 15 April 2024
10

The Ken & Edna MO￿ls0n Chositable Ttust
TnJste¢s' report 8ffld finan¢iai statemcnts
5 April 2024
Cash Flow Statement
for year ended 5 April 2024
Nole
2024
2023
Cash flows from op¢rating activities
Net income/{ex￿ndj￿re) for ihe reporting period
Adjustments for-
Gainsl{Ios5e5) on inv¢skn¢nts
Dividends. interest from investments
In¢reasel{decrease} in crediiors
(Incre&8e)Id¢¢r¢ase in debiors
385J07
(528.243)
(405,092)
(182,738)
91.941
(20)
501,089
{206,144)
{111,1031
1,800
'et tash (u$¢d in)/provided by operntin% 4¢tiviti¢s
(110,602)
(342,601}
Cash llows from investinR artiTrities
Divid¢nd& intercst from investments
Net pro¢¢¢ds from (pur¢has¢sysale of investsnenls
182,738
(300,402)
206,144
{118,679)
Net cash (used in)Iprovided by investing activities
(l17,664)
87,465
Change in eash and ea$h equivalents in the year
Cash and cash equivalents ai the beginning of the year
(228,266)
$50,144
{255,136)
805,280
CA$h gnd ¢i$h equivllents at the end of the yeAr
321,878
SSO,144
The notes on pages 12 to 15 forni part of these financial statements.
RegistetEd number 327639 15 April 2024

The Ken & Edna Morrison Charitable Trust
Trustees, report and financial stkternenL
5 April 2024
Notes
(tormingparl oJlhefinancialsÉotemeAts)
l Accounting policies
The following accounting policies have been applied consistently in dealing with t￿mS which are considered
materi81 in relation to the Trust's fllwicial ststements.
Basis ofpreporalion and ￿seSsMent ofgoing concern
Th¢ Trust is a public benefit entity.
The financial statements have been prepared under the historical cost convention. as modified by the
revaluation of investments to market valu¢ and ar¢ in accordance with A¢counting and Reporting by
Charities.. Statement of Recommended Practice appliable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I
January 2019) ('the SORP,). the Charities Act 2011 and applicable United Kingdom accounting standards.
The aocounts (financial statements) have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Report) Regulations 2008 only to the extent required lo provide an 'trne and fair
view, This departure has involved following Accounling and Reporting by Charities preparing their accounts
in accordance with Ilie Financial Reporting Standard applicable in the UK and republic of Ireland (FRS 102)
effective from l January 2019 rather than the Accounting and Reporting by Charitie5.' Statement of
Recommended Practice effeclive from l April 2005 which has since been withdrawn.
The Trustees consider that there are no material LEn¢ertaintieg about the Trust's ability to continue as a going
concern. The rnost Significant area of risk in ihis year and for the future is around the valuation of the
investments. This however is not a going con¢¢rn risk as Ih¢r¢ is a significant net asset bal&nc¢ at year end
and the trustees have control over the level of grants the Trust awards.
Incoming resources
Investment income and bank interest is accounted for on an accrual basis.
Resources wended
All expenditure is accounted for on an accruals basis and hks been listed under headings that aggregate all
the costs directly attributable to thal activity, Where ¢osts (including overheads} cannot be direcily attributed
they have been allocated to activities on a basis con5isl¢nt with the use of resources and the time spent on
those activities.
Governance costs are those incurred in the governance arrangement of the charity which relate lo the general
running of ihe charity a5 opposed to those ¢ost5 associated with generating funds or charitable activities and
its costs are primarily a5socialed with con5titulional and statutory requirements.
Toxotion
The Ken & Edna Morrison Charitable Trnst is Considered to pass the tests sel out in Paragraph I Schedule 6
Finance A¢t 2011 and therefore it meets the definition of a Charitsble trust for UK income tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or Capital gains received
within categories covered by Part 10 Income Tax Act 2007 or Section 256 of the Taxation of Chargeable
Gains Act 1992. to the extent that such income or gain5 are applied exclusively lo charitable purposes. No
tax Charge has arisen in the year (2023.. £nil).
Registered nulnber 327639 15 April 2024
12

The Ken & Edna Morrison Charitable Tntst
Tru5tees' report and Fu￿ncIal statements
5 April 2024
Notes (continued)
Accounting policies (conlinued)
Cash and cash equivalenls
Cash at bank and in hand is h¢ld to meet the grant making activity and th¢ day to day running costs of the
charity.
Cash investments are cash balances held within the Trust's investment portfolio.
Fiyed qsset investments
Investments are stated at market valu¢ being the bid pric¢ or the lasi traded price ￿ the date of the net assets
statement.
The realised and unrealised gains on investments are reflected in the statement of financial activities as they
arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and
opening market value (purchase date if later). Unrealised gains and losses are calculated &8 the difference
between the markei value at the year end and opening market value (or purchase date if later). Realised and
unrealised gains are separated in the notes to the accounts.
Expenditure on eharltable Activities And governance
2024
2023
Grants (note 31
GoY¢rnan¢¢ cosis Inole 4)
175,438
4239
206.000
4,175
J79,677
210,175
3 Grants payable
There were 17 grants made to organisations during the year amounting to £175,438 as delailed below:
2024
Awards for Young Musicians
Bradford Hospitals Trust
Bradford Inclusive Disability Service
British Wireless for the Blind fund
Different strokes
Epilepsy Action
HENRY
3,000
18,338
2,000
3.100
3,000
5,000
5,000
48,000
20,000
2,000
5,000
5,000
10,000
6,000
10,000
10,000
20,000
Marie Curie
Mind In Br&dford
The 3H Foundations
The Autism Angels Team
The Cellar Trust
The Fanning Community
The National Literacy Trust
The Prince's Trust
The Royal Agriculwrn] Benevolent Institution
Yorkshire Air Ambulance
175,438
Registcrcd numkr 32763915 April 2024
13

The Ken & Edna Morrison Charitable Trust
Trustees, Teport and financial ststements
5 April 2024
4 Governance eosts
Management and administrdtion costs:
2024
2023
Accounting advice and other professional fees
Independent Examindtion
3,607
632
3,540
635
4,239
4,175
5 Trustees, remunergtion and expenses
No remuneration or expenses were paid to the trustees for their services during the year (2023., £nil).
No staff were employed by the Trust during the year (2023.. none).
6 Listed Investments
2024
2023
Investments at market value at 6 April 2023
5,152,071
5,534,481
Add: investments purchased in the year (al cost)
987,666
684,439
Deduct: investments sold in the year (at market value)
{639,170)
(603,910)
Deduct.. investments purchased and sold during the year
(50,000)
(21,323)
Net gainl{loss) on revaluation
406,998
(441,616)
Investments at m*rket V91ue at 5 April 2024
5.8.57,565
5.152.071
Proceeds of investments sold in the year
687364
565,760
Deduct.. investments sold in the year (at market value)
(639,170)
(603,910)
Deduct: investments purchased and sold during the year
(50,000)
(21,323)
Realised10$8
(1,906)
(59.473)
Net gainl{loss) on Trvaluation
Realised loss
406,998
(1,906)
{441,616)
(59.473)
Gains1 (losses) on investments
405,092
(501,089)
Registered number 327639 15 April 2024
14

The Ken & Edna Mottison Charitabl¢ Trust
Trustees. report and financial statements
5 April 2024
7 Debtors
2024
2023
Tax refi￿d due
Investment income due
574
533
21
574
554
8 Creditor5: amounls falling due within one year
2024
2023
ACCI￿als- Investment managers fees
A¢¢ruals- A¢eountsn¢y f¢e
A¢¢ruals- Independeni Examination fee
Accruals- t)onalions mad¢
5,870
3,540
580
83.000
3,607
606
171,438
184.931
92,990
Registered number 32763915 April 2024
15