Charfty Number: 327T84 THE PREVO TRUST STATEMENT OF ACCOUNTS YEAR ENDED 5 APRIL 2024 THE PREVO TRUST ACCOUNTS YEAR ENDED 5 APRIL 2024 CONTENTS Page Ttustees, Annual Rep¢Jrt Independent Examineff s Report Stalement of Financ4al Aclivitses Balance Sheet Notes to Ihe Accounts &8 THE PREVO TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 5TH APRIL 2024 The TNstees present Iheir annual report and finan￿al statements of the tharity for the year ended 5 Apn12024. Objects and Pollcies Th8 Fund8 are to be applied or Iwdrds 5uth thatilable purposes at gu¢* time or timeg end in suth manner as Ihe Tru8tee5 shall in their absolute disfxetion Ihink fit Th8 objactives are fulfilled by the Trustees Ihrouoh consideration of appoals ond making grants or d¢￿atiOnS in response theret Funds held pending disbursement mayb8 tnve8ted in se￿￿tieS ofvthatsoever nabjre Ihe Trustees think fit. Activltle5 and achlevements during the year The Trust conb'nued to consider requests for funding and to respond thereto. Income amounted to £141,848 (vthich indudes a donaticn of £125,029 from the selllor). This compared to £14.261 in the previt>Js year. Donations of £51.Y24 were made during the year Gompared to £23,600 In the previous spar. Support costs induding governan￿ cosb tolalled £4,050 (2023 £3,096) Administrafjon Infonnation The Ptevo Trust is constittjted by a Trust Deed dated 2nd March 1988 and is a registered Charity number 327784 under dause 9(1).The statutory pmr of appointing new or additional Trustees rests ih LuGyA3tcr. TherE is a minimum number of two Trugtees. TNstees LUGY Aphra Nancy Ast( Benedict Hunty Fknlsford Leonard Franas F￿1sf0rd RamoTra Anna Aphra F￿18f0rd Addres8 Sayers Butt8NMlh LLP 3rd Roor. 12 Gough Square London. EC4A 3DW AJI enquiries should be addressed to saye￿ Butterworth LLP Ref SMS Banker5 Ralhbone Investment Management 30 Gresham Street Lond1￿ EC2V 7QN Investment Advisor Rathbone Invesknent Management 30 Gresham Street Lond￿1 EC2V 7QN Bardffjs Bank Leicesler Leicestershire LE812BB Independent Examlner Sayers Butterworth LLP 3rd Floor, 12 G(wgh Square London, EC4A 3DW Page I THE PREVO TRLL8T YEAR ENDED 5TH APRIL 2024 Rl•k F•et¢ aTrJ c•sh dep￿ty g•irra of £57.4C6 ￿ tr• rfhwkn•nls h*J. This (£VDpar•d unr¢ah￿￿ro￿lOod Icws of £30.774 m It￿ F¥Bvws yw. R•••rv•• PoHey minKnal Sèvel The Truste85 c￿fim1 Ih•t hm tr* dirty 17 of Iho Ch•fftm 201110 R•tst•d Party Tr•M•Ctlon• R•spon•lblllU•• of th• Tr￿t••• Th• wlubl• lo Ef*r#l & Wale• r•ym Trw*es kn Fry>•r• fin￿&11 sta1￿7*￿ ft)r ••ch year.¥knth •Thl f*r ¥W4V ol •tote ol •ff•r• ol th• Ch•rrty and of the . state aFplirth UK Acc(xmtsW SlarKlaffJs frkn••d. Mt4Kt lo •ny maleflal thal the chonty wiu c(￿￿nYo m (wa Ad 2011.tr* Chwty IAc(xwl8 a￿1 Rer*yts) R¢gulkn 21Th and th• of Iho Tfuil O•wJ. L Astor [)* l¥ Ufirt.20Z5 P•Jo 2 THE PREVO TRUST INDEPENDENT EXAMINER'S REPCRT FOR IHE YEAR ENDED 6 APRIL 2024 Ind8p8nd8nl Examlnorf8 Roport lo th8 Truslwg of Tho Prnvo Trugt I repL¥t ts) the thartty Ttuslees on my e￿MInati£￿ of the 8(xxJunts of The Prevo Trust Ihe year ended 5 April 2024 txmprise Ihe Slalement of Finand81 Actsvitie4 the Balan￿ She81 and relaled noles. This repcd Is made sclely to Ihe th8rity'5 ITuslee4 85 a b￿, In 8cxx)rd8nce vAth gectton 145 of the Charlffies Act2011. MyWC￿ has been undertaken so thal I might slale lo Ihe Charity's 1rn5tees those mallers l am requlred to stsle to them In an Independenl Ex£min8ts reptNi and for no olher PUTPW. To the fulle81 extenl pernillted by law, I do not a￿pt or as5un]e re5pon8ibility lo anyone other than the Charity and the Ch8rity5 tru8tees ag a body, for myworK fc¢ Ihis reporl cr fcr Ihe opinionJ I have fonned. R￿Pon￿r01151fo5 ond bas1# olr8POrt As Ihe TTUSlees of Ihe Charlty Y￿ are respon8lble for Ihe prep8r8tion of Ihe fjnand81 slalements In acc£¢d8n¢ vAth the requirements of the ￿arities Act2011 ('Ihe Acv). I rep￿1 In respecl of my e￿MInatiC￿ of the Charfvs Ilnantial statemen15 ￿TrIed under 8ectton 145 of Ihe Acl and In Ca￿y1n9 ¢yJl my exemination I have fvllthyed 811 Ihe 8ppli(xble DlredLmS given by the Charfty Commission under 8eGtton 145(5)Ib l of the Acl. An independenl examlnation d088 not invdve gatherfng 811 the eMdenGY Ihatwould be requlred In an audlt and consequenty does not L¥)ver all Ihe matlers thal an 8udilor cx)nslder5 In giving their oplnlon on Ihe financial 518lements. The planning and ojnduct of an audll goes beyond the Ilmlled assurance that an Independenl examinali￿ can p￿Ide. Con8equenfy l e￿resS no oplnlcffl 8S t0￿ether Ihe financi81 slalemen15 Present a 'true and fzlr. vlew and my repc¢t ig Ilmlled lo Ihoge specific matters set oul In Ihe independenl ey2mlner'3 51alemenl Independ•nt oxamlnorfs slal8ment I have compleled my examlnallon. l 0￿fim7 Ihat no materf81 mallets have (x)me lo my altenllon in conneckn Ih the ey£mlnalion gmng me cause to belleve thal In any m81erial re8pecl: aC(X￿nting reo)rd8 were not kept In respect of th8 tharity as requlred by 8eclion 130 of Ihe Actr, Ihe finandal Statements do nol a(xyJrd Ylth lh￿e record5; or Ihe finand81 slalements do not o)rnply wtlh Ihe applicable requirements C£￿￿mIng Ihe fDTm and r£￿ten1 of aoxxyjnts Sel oui In the Charfties (Ac(x)unls and Rep￿18) Regulalions 20tB other than ary requlremenl Ihal the a￿￿nIS gN8 8 Irue and t8lr vleW whith 18 not a matter o)n31dered a5 part of an Independ8nl ex8minalton I have no (x￿￿￿5 and have ￿)me acxoss no olher malters In connedion wilh Ihe examln8fjon lowhlth attenlton should be dr8wn in thi8 report In (Kder to endable e proper underBlan(fing of the finandal slalemenls to be reathed. AndrewBurth FCA SayeTS Butlerv￿rth LLP 3" Floor 12 Gough Square London EC4A 3DW Dale: 14 January 2025 Page 3 THE PREVO TrUST 8TAIEMENT OF FIIIAMCIAL ACTIVITIE8 FOR ThE YEAR EKIED S ￿)ftIL 2024 Note Ewenda)le End(AwM￿t Funds Unrestrided Funds 2024 Tot FundB 2(r23 Fund8 kncom• fr¢xn: Investrn￿t Inc(me Transfer from SeiU( 16,819 16.819 125,029 14,261 125,029 125029 ExP•nd1￿I• on: Ra￿ng knnds Charita)le ￿*VIlle￿ 5,065 2,025 5,065 55.974 4,510 26,6 53,949 Totsl •xp•ndtyrn 61,039 N•t 9th• l Oo•w•) on Inv••tm•nts 10 57,406 57,4 (30,774) N•t Incom• l (•xp•ndkn•> 175,345 (37,130) 138,215 (47,719> Tr￿•1•r* b•tsv••n (50.000) 50.(M)O N•t nK¥v•m•nts In fvnd• 125.345 12,870 138.215 (47,719) R•conclllafjon of lund• Totsl ￿ndS brought forw*rd 814,943 27,951 842,894 8￿.613 ￿nd• ¢*nl•d forw•rd 940,288 40,821 981,11YJ 842,894 AH &fvilles c(MIn￿ng OFerth. The n(kn 6 b 8 fum pwtofthe•e fin￿d81 •tknls . P&Je 4 THE PREVO TRUST BALANCE SHEEf AS AT S APRIL 2024 Year ended 5 Aprll 2024 Year ended 5 April 2023 Note Flxod Asset Investmènts at Market Valu Quoted Investments UK gUQted securilies 10 928.949 754.941 CuTTent Assets DebtorB Encore Award 2,400 Cash at Bank Barclays Rathbone Investment Management Capital Accounl Income Account 32.918 77,494 15.034 1,04D 11,406 1,253 48.992 90.153 986,485 847.494 Cu￿ent liablliues Sayers BUtte￿¥orth LLP Sayers Builewiorth LLP Independent Examiners Rathbone Investment Management 2.780 1.200 1,418 2,280 1,170 1.180 5,376 4.800 Net Assets 981.109 REPRESENTING: Expendable Endowment Funds 13 940,288 814,943 Unrestrlcted Income Funds 13 40.821 27,951 981.109 842,894 Thè accounts vRre approved by Ihe Tnjstees on and signed on thelr behalf by. L Astor Page S THE PREVO TrUST NQTES TO ThE AGGCUNIB YEAR ENDED 5 PPRIL2024 1 Accounllnq Poll¢la8 (a) Ba81& of preparatlon of Itnan¢lèl 8tatgmgnts The kn8ndaY statsments havo beer) ptepared In 8(￿[danc* ￿th Iha Statgm8nl of Reeomm8nded Accountlng and RepO￿"ng by Charfl'es prepartng theSr aco)unl& in ac>>)rdanco wllh thè Fln8ndal Rèportuig Slandard oppllcablo In tho Unhed lQngdom and Ropubllcof Irplolld (FRS 102) unts as the Charlty Is enllllad to th6 6xompllon Rir lax offtirdod by P8rt 10 of tho lTrcomo Tax Acl 200T and Secfjon 256 of the Chargeablè Gains Act 1992. (dl Exp•ndlturo EXpondI￿ra is induded on an 8cc¥ual8 basls and lTrdudBs lffecovgroblo votse added lax. Donaltons psyAblg are therggd In the year ￿en the offer 18 (*nveyed lo thè rècaplgnl 9x￿p( In those ca89& where the offor [8 ndilonel suth donalons being rncogntsed 86 eX￿ndItur9 whon Iha attathlng fulfilled. Don8fon6 offgred subl8ct tr) (ondllons wh&* havo nol bogn m8t el the year end are nol8d 06 8 wmmllm6Th1 but not arxzued 06 axp8ndltrTO. (•) Govemgncg a)sts Indude those cos18 ossodaled wllh medlng tho (x*n6tituOonel and Bts￿10ry requlrements of the Charfty and Indud9 ￿sts linked lo tho 6tralealc m8n8U8menl oltho C#]8rfty. (f) knve6fmonts arevelued 81 open m8rkel v8kn8. (i) Fund accounfng-DetffllF* of the nalura and wrp060 of ee(* fund15 Set out In not6 13. (h) Cash atbonk end In hand CABh al bank and in hand indudes cash and 6horttenn hfthtyllq￿ld InvoslmentsYAth 8 short mothrftyoflhrpe M¢￿th5 or1058 from the d816 ofacqulslllon orop8nhg ofthe dopoGltorBlmllar alX￿unl. Page 6 IHE PREVO TRUST NQTES TO THE ACCOUNIS YEAR ENDED 5 APRIL2024 AccaunllnA pollclés (cantlnuéd) (l) Gredltpr8 qnd provlslons Cro(Ilors and wovi61on6 oro reo)gn160d where lh8 ha6 8 presenl ob1lgofj0￿ ￿6￿1Th1g from a p85t ovenl thatwill probajty rasull In a tr8nshrof ￿ndS lo a thlrd party 8nd tho amounl due to 60118 the obllgallon bg n1888urgd ar95tlrnat8d teliabty. Credilorn end pro￿810n8 ar8 nomially fèt*gnlsed at thelr 601Uomonl amaunl affer 8llNkng forany tr￿8 dlscounts duo. U) Flnan¢lql In8trum•nts Th8 ￿erity only has thandol InGlruments of e kthd th8t quellfy8s bas1¢ finandallnslwments. Baslcflnandal lftslNments Bre inifjally T8￿gnIS9d 8t tran6aclJon v8luo and Subsequenty measured el setlem8nt valuo. Tru8té88 Rémuneratlon and Exp•ng05 No Trustees ro(¥tved rgmuner8lton or e>¥eTr6e6. Invogtmont Incan70 2024 2024 EYp•ndablo Unre8trlet•d Endowment Incam 15.974 2024 2023 Totsl 15.974 845 Total 14.090 171 DMdend6 Bank Int0rn8t 16.819 18.819 14.261 Costs of Cherftsblo A¢Uvllloa 2024 2024 pendoble Unr•8trlct•d Endowmgnt Ineomo 2024 2023 Totsl 51.924 4.050 55.974 Totsl 23.600 3.096 Oonalon8 Suppcrt costs 51.W24 2.025 2.025 2.025 Support ¢08ts (Indudlng Qovornan¢• ¢oBts) 2024 2024 Expendablo UnroDtrlcted Endowm•nt Income 2024 2023 Total AcUunl￿￿4nd t&¥oUon thergg8 Indudlng undDr provlBlon for provlou6 year Indopand8nt E¥emlner6 revlow undgr provlslon for prevlous ye8r 1.375 1.375 2.750 2.056 850 2.025 650 1.300 4.050 1.040 3.096 Indudod wlhin supporl [￿ts are payment5 to Ihe Independent Exominer6 of £1.300 for th8 iTrdgpend8nt oxamknatton (20YJ.' £1.040) 2024 2023 DonotlonB pwoblo Prlzos Prfzos 4 ShorUi5tsd Author5 Judges Fees Vènu& Hlro and￿1￿illg Video Productjon Awwd Admlnlstrallon 10.000 2.OCQ 5.11YJ 29.573 10.000 2.000 5.100 1.500 5.000 8.800 5,251 51.924 51.924 rd.600 Tho obJéctt*e6 ortho T￿st are fvlfiff8d by thè Trusl¢os through consld8rath)n of epp8alb and moTong grants In Tr8pons9 th8rbto. All grants mgdo afo for tho g8nor81 support of tho redpbnt. Page T TrE PREVO TRUST NOTES TO THE ACC(YJNTS EAR ENtED SAPRIL •) 7 EnyA¢ry••B Thsya no thTpby••$ ¢*rTrJ th•yw. 8 R4l•ithJ Pwty T￿￿￿11￿* no r•labJ wrty tran•wl"on• Ojmg tho wn&J. In th• y•w'w• ￿ • ¢s)nO￿ *un om of 9 C&￿tr￿lIng P No cn• pty has ecf¢fd ol Tru 10 Flxfrtl A￿1 kn¥••th*n Quot•d invttm*n Opaning rr•rk•t¥olu• at 6 A¥ffll 2CQ3 AdaD¢XS m•*J djring tho ye nsfw trom Saly O*Fo6al8 dumg th• y N•t raahsod I1￿8) Ipn cffj d•x6a8 N•t unr¢Jah6•J kwlllc681 cffj tomwk•tvalu• •tyav 754.941 478.7 125.029 1487. 765218 121.389 15.3421 lic .748 127.6841 57.4( IXJ.T741 Clwi mvk•t v•lu• •t 5 Awil 2Q4 +lilorical ¢r*t 4. 677.6SJ 11 Fun Unr•oth"¢tsd ftmth crryrise thoa• lJnd8*kn'th Tfts•ti• tr•• X¢>Jrthn¢•wth th ¢hontstdo oty'￿ts. ExFffj¢**4• I￿&Y￿E ￿nd r•Y•w• •M•M w'nup•Hy IrN••trwts. thatarn by the on a w￿￿*rtt ￿•8 y Wl* pn8 tt1o••J anwng on th• Thf•8trThints fcrm p¥t of th• ljnd. Inv••tTWtmw•Jwn￿t ¢hwge8 and rolai.ng to thts fijnd •wnit Inccrn• ari8Nig on th• fijnd A mdudsd •• Urmththj in¢xrfTrJ. Clause 3 oftha Tru6tDo&J gvo8 thé tho Trust Fund frx wjch th•irt16 PWlla6 al Ihts Tru61a06 thai In Ih•r •t4dul• dicrob'cn 12 And￿1¥ of •nd c••h •wl¥•knl¥ 2024 2CQ3 9Q153 90.153 13 Andyd• ot n•t ••••ts b•tff•￿ funth EX￿￿tI* Unr••tr¢bJ Enc$￿￿11 I F¥ 2(Q4 Tol* 2CEJ Tola Fund Fund at5 W 2024 •• ty Fixe¥J ￿61• Currtsnt 928.949 14.7& 92&949 4&992 4544 5,378 754.941 153 34257 QS44 1.980 ¢JJ• fAlh'n crn 3.3 940 842 894 Brouthl Incomlnq G•bn• I C•rrl•d Fomrd Am￿rCal Ewdtsff• Tm•f•rn Forw•rd Ur*•str¢i>dFur*J• 27.￿1 53.949 40.821 Totdl ￿l*jI 842.894 61.ctsg 57.41 991.1C P•J• 8