Charity number: 328558
OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

OLD POSSUM'S PRACTICAL TRUST
CONTENTS
Page
1-12
Trustees. report
Trustees. responsibilities statement
13
Independent auditors. report on the financial statements
14-16
Statement of financial activities
17
Balance sheet
18
Notes to the financial statements
19-29

OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual r&port together with the audited financial ststements of the Charity for the year
1 April 2024 to 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the Charitys trust deed, the Charities Act 2011 and "Accounting and
Reporting by Charities= Stalement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and activities
The primary object of the charty is to increase knowledge and appreciation of any matters of literary, musical.
theatrical, historic or artistic interest.
The Trustees continue to actively seek out and support organisations that fit with its aims, and those of its
founder. Mrs Valerie Eliot. the late widow of T.S. Eliot.
Achievements and performance
Since the charity was founded in 1990 it has awarded grants of £22,647,773.
The Trustees aim to support organisations for an initial period of three years if funds allow and if the project for
which funds are being requested is ongoing. In that way it gives the organisations certainty and enables them to
plan sustainable projecls and gives them time to seek alternative funding when our grants end. The grants tend
to be in the region of £5,000 per annum but the Trustees do award higher grants and consider all relevant
requests for funding.
Additionally, the Trustees seeks out organisations that work in fields supported by the Trust in particular Literacy,
Poetry, Music and Theatre and those previously supported by its founder Mrs Valerie Eliot. However, grants are
made at the discretion of the Trustees and are not limited to these areas of interest.
This year amongst its 3 year grants the Trust continued to support the Stephen Spender Prlze for Poetry In
Translation and Shakespeare Schools Festlval and started new 3-year grants with. amongst others, The
Nucleo Project, Lyric Hammersmith, Natlonal Opera Studio, Britten Pears Art5, Read for Good and
Criterion New Writing.
The Trust having started a new £25.000 per annum 3-year commitment with the National Theatre for its work
with young writers through tts New Views programme in 2023. paused this in 2025 as the National reflected on
the programme, taking stock and working towards a refreshed programme in 2026. The Trust has therefore
committed for a further 3 years from 2026 to 2028.
From the end of the Festival in 2024, The National began a rigorous stakeholder evaluation process to
understand the strengths and areas of development for New Views and how they can adapt the programme to fit
with the National Theatre's strategic aims.
New Views is a unique springboard for self-expression.. an opportunity for students to wrtte about what matters
most to them. Over the last 11 years. 786 educational institutions have taken part. Old Possum's Practical
Trust's support since the start of the programme has enabled more than 13.000 young people aged 14-19 to tell
stories that matter to them, and to grow in confidence and academic ability. Diversity of experience is key to the
programme's success, empowering young people of all backgrounds to show us the world through their lens.
Our grant in February 2024 supported the nationwide delivery of the 11th New Wiews programme, as well a5 the
staging of nine plays by professional theatre makers at Ihe New Views Festival in July. Thanks lo our gift.
students all the way from Aberdeen to Exeter expressed themselves through writing. and nine young people had
the unique chance to Collaborate with professional theatre makers to bring their plays to life.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
In April 2024, The National received 500 second drafts which were reviewed by a team of volunteers. This was
narrowed down to a longlist from which a panel of experts, including the mentor playwrights and last year's New
Views winner, Keira Grierson, chose the winning plays. This year, due to the exceptionally high standard of
submissions, two young writers were selected as the winners: Luke Fields (Aquinas Diocesan Grammar School.
Belfast) and Emyr Strudwick (The College. Merthyr Tydfil). One of our Trustees, Clare Reihill, also sat on the
judging panel.
'Returning this year as a judge, and watching several young writers be presented with the same opportunities
that validated and inspired my passion for writing and theatre is another privileged experience at the National I
won't forget." Keira Grierson. New Views Winner 2023
On 4th and 5th July 2024. the New Views Festival was hosted at the National Theatre, where the winning plays
and runners up had their scripts perfomied by professional actors in front of a live audience of 300 people. many
of whom were students who had taken part in the programme. Alongside the performances. there was a special
devising and playwriting workshop for the young people attending the Festival. The workshop wa5 Created by
parbcipants of the NT'S Young Producers course.
Luke's play was directed by Emily Bums and Emyrfs play was directed by Rufus Norris. Director of the NT. The
winning plays were performed on both days in the Gorvy Rehearsal Room and were followed by a Q&A with the
writers and directors. hosted by Nina Steiger, Head of Play Development. The seven shortlisted scripts had
rehearsed readings in the Duffield Studio across the two Festival days.
"I found it an incredible experience. Getting to advance my own skills whilst interacting with like-minded students
and having the chance to read and see their work and what inspires everyone else was really special and
exciting." Luke Fields, New Views Winner 2024
Teulu by Emyr Strudwick
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trust awarded a new 3-year grant to The Lyric Theatre, Hammersmith towards their Springboard
Programme. SPRINGBOARD is a free training programme that aims to find. shape. inspire, champion and
sustain the next generation of performers from underrepresented backgrounds. This ground-breaking
programme established multiple performance pathways into employment. It was designed specifically to support
young people aged 18-25 who lived in West London. had zero to little formal drama training and were currently
under-represenled in theatre. Over three years of their pilot programme, 31 trainees were enrolled and were
supported to take part in a wide range of development initiatives including performances, workshops.
masterclasses, artist development discussions. with opportunities both on and off the slage. The Trust has
awarded support towards the next stage of development of the Programme.
The Trust renewed its support of English National Ballet with a new three-year grant of £15K per annum to
support Ballet Futures.
Thanks to the support of Old Possum's Practical Trust, Ballet Futures continues to achieve incredible success.
They are creating flourishing and sustainable relationships with each of Iheir dancers. their parents and carers,
their associated schools and their respective directors. and other ballet schools and talent initiatives that fully
support their aims and our vision.
Artistically. they are witnessing incredible improvement in their dancers, technical development, work ethic and
self-confidence, which feeds directly into increasing their prospects of transitioning into full-time vocational
training at a ballet sGhool. Their dancers are also being exposed to leaming new explorative and creative skills,
which will hopefully help them begin to learn how to increase their versatility as young innovative artists. Ballet
Futures is already achieving one of its principal aims of increasing the level of diversity in the classical ballet
sector and on the stage. most powerfully demonstrated by our dancers successfully auditioning for leading
vocational ballel schools, and their dancers appearing in ENB'S main productions.
Above all. Ballet Futures has encouraged their dancers to believe that there is a place for them within this art
form. and that with the right support, guidance, and access to opportunity. anything can be achieved.
Dupont visit, March 2024 0 Jack Thomson
As part of their participation in Ballet Futures. we have offered 160 tickets across seven theatre trips to
productions including Derek Deane's Swan Lake in-the-round, at the Royal Albert Hall. Wayne Eagling's
Nutcracker, at The London Coliseum, and Mary Skeaping's Giselle. and John Inger's Cannen, both at Sadler's
Wells.
°Thank you once again to Old Possum's Practical Trust for your support"
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trust supports organisations working in music and honoured Mrs Valerie Eliot's love of Opera and music by
supporting National Opera Studio (£2,500), Wlgmore Hall (£5,000) Royal College of Muslc {£5.000) Holland
Park Opera {£5,000) and Garsington (£7,000).
We also started a new relationship with The Nucleo making a 3-year commitment for a grant of £5,000 from
2024125.
Nucleo is a 'musi¢ for social action. project offering free, ensemble-based musi¢-making opportunities to
children and young people through their immersive programme in North Kensington. They run a national
Instrument Donation Bank to get unused instruments into the hands of young musicians and deliver the national
Young Leaders Programme. The young musicians in their Community Programme attend over 100 different
schools. and together they speak over 40 different languages at home.
htt s.'Ilwww.thenucleo
ro
ect.or
Ifa
Continuing our work with musical projects we awarded the third instalment of a 3 year grant increased from
£30K to £40K to the Tomorrow's Warriors Trust for their Young Artist Development Programme at
the Southbank Centre - a year-round, weekly development programme that is 1 Oook free at the poinl of access
for talented young musicians aged 11-25, where they learn from Ihose who have come through the programme
who are now leading musicians on the UK jazz scene (the embodiment of their 'Each One Teach One. ethos).
They work wth c. 150-180 musicians a year. primarily focusing on musicians of colour and female musicians in
their Junior Warriors (aged 11-15), Development Group (15-19), Advanced Development Group {17-25). Jazz
Hang (15-25). Female Collective (14+), Jazz4Strings (17+). Be￿een 85°￿-90./0 of their musicians go on to have
successful careers as professional musicians.
°TOMORROW'S WARRIORS runs an acclaimed Young & Emerging Artist Development Pmgramme FREE
for the next generation of aspiring UK Jazz musicians. to keep it accessible across cultural divides and
barriers, wlth a particular focus on Black muslcians and young women, and those facing economic
hardship."
The Trust also supported Wigmore Hall for the first time with a grant of £5K for their Come and Create music
programme for autistic young people aged 15+ consisting of a fortnightly band, online socials. and 4-day summer
project.
P*&i.'-¢A.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trust also continues to support the music at st stephen's Church, TS Eliot's and Mrs Valerie Eliot's local
church.
St Stephen's Church South Kensington
wordéfvorth
GRASMERE
The Trust awarded a 2-year grant of £10K per annum to the Wordsworth Trust in 2024125. The grant has
enabled the Trust to work with eight poets and writers to reach 1.571 young people. roughly equally split between
primary and secondary schools. Of that 369 young people (23Yo of the total) were in the Barrow-in-Furness area".
one of Arts Council England's 'priority places.. which are defined as being 'overlooked and neglected, in terms of
cultural provision.
Most of this activity took place through visits to schools. As well as Barrow-in-Furness, the Trust brought poets
into schools across Cumbria, from Carlisle in the north of the county to Kirkby Lonsdale on the Lancashire
border. and from Workington on the west coast to Sedbergh in the Yorkshire Dales.
Activity has ranged from one-off poetry workshops to regularl sustsined activities, working with the same young
people over an extended period of time.
Sustained activities included:
the Dove Cottage Young Poets (for 13-19-year-olds). who are drawr¢ from secondary schools in the Kendal
area and meet fortnightly after school in term time. In October, the Dove Cottage Young Poets performed at
Kendal's Brewery Arts Centre.
the Untrodden Ways poetry group (for 11-14 year-olds). which meets 1-2 times a month at a school in
Dalton-in-Fumess.
drama workshops at Roose Primary School in Barrow-in-Furness leading to a performance at Windemiere
Jetty Museum. Bowness-on-windemiere. Roose Primary School is in an area of high deprivation with 20°/0
of its intake eligible for the pupil premium.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Evidence of impact
"One of the poems we looked at was The Thought Fox: and when we flnished reading it, a year 9 boy said
'Wow!' There was also a Jot of general Jove for poety and for the sessions, with a spontaneous conversation
about how amazing poems are. and how much there can be packed into them - as well as (from another boy).. 'If
l just read this on my own maybe I'd like it, but I wouldn't get nearly as much from it - but then we talk about it
and irs amazingl, It felt like I was watching a lifelong poetry obsession forming in real timel.
Katie Hale. poet, on the Untrodden Ways Poetry Group
"The children produced some amazing work and gave readings to their peer groups. It was a total joy!.
Dave Cryer, poet, on leading a workshop in a primary school in Coniston
"Being part of this programme has led to an improvement in my creative skills. I have felt that the quality of my
work has improved and I have grown as being part of the programme. I have also felt that I have received lots of
support from Wordsworth Grasmere. I have felt like a valued member of the Dove Cottage Young Poets.
Muhammed, 16, member of the Dove Cottage Young Poets
The Trust also committed to further funding for First Story to support their Writers in Residence in Pupil Referral
Units with an initial grant of £40K followed by £20K for a further 3 years. First Story exists because access to
quality cultural education is not distributed equally across the country or in education settings. They work
together with teachers. professional writers and others, providing opportunities for under-served young people to
participate in enriching creative writing activities.
The Trust continued its second 3-year commitment with the British Film Institute 'BFI' with an award of
£20,000 in September 2024 (2nd year of the commitment) supporting them to further develop a strategic BFI
Festivals Education Pro
ramme for the 2024 London Film Festival (LFF).
BFI IONDON
FILM
FESTIVAL 2024-.
Other notable awards included The Children's Bookshow with a renewal of our grant of £15K for 3 years to
2026127. The Children's Bookshow established a tour in 2003 with the aim of bringing the best writers and
illustrators of children's literature to theatres and arts venues throughout England. The writers selected are
chosen from a wide variety of countries and cultures to give young people the opportunity to experience the best
children's literature from around the world. with focused attention on schools in disadvantaged communities in
areas ranging from Tower Hamlets in London to those in Newcastle. The tour is backed up by a series of school
workshops, led by the writers at whlch children are given the opportunity to work with them on their own creative
projects. The tour promotes the enjoyment of poetry by giving children the opportunity to meet inspiring.
internationally acclaimed poets. It helps foster in children a love of poetry; and it encourages children to write
their own in the school workshops which follow the performances.
The Trust awarded £17.675 to The Book Trade Benevolent Society (BTBS). Almost by default, people in the
book trade are deeply and personally engaged with the world of the written word - books, manuscripts,
illustrations, publicalion - capturing ideas, information and slices of time. Everyone has their own libraries, folders
of papers and assorted records too precious or personal to throw out. As a result of their 186-year history. and
love of the Written word, the Book Trade Charity archive is huge
but in practical terms, largely inaccessible.
They have a unique opportunity to systematically uncover, catalogue and unlock their shared history of the book
trade. The phase one cost of £17,675 covers the experienced subject malter experts to start the process of
sorting through and collating this history into a useable archive.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Young V&A Learning Programme at the V&A located in Bethnal Green, East London, was awarded a 3-
year grant of £5K. The Learning Programme aims to inspire future generations and engage a wide range of
audiences. especially early years and local school children, helping them build the skills and creative confidence
needed to thrive in our fast-changing world. Al a time when arts provision is reducing in UK schools, the Young
V&A Learning Programme is essential for supporting creative learning both in and out of the classroom.
The Young V&A Learning Programme is divided into four strands: Schools, Family, Creative, and Design. The
majority of activities takes place in the Young V&A's three new galleries and the Clore Leaming Centre.
The Anne Frank Trust UK
We made our third award of £15K to The Anne Frank Trust UK which is an education charity which empowers
10 to 15-year-olds lo challenge all forms of prejudice, inspired by the life and work of Anne Frank. Using the diary
of Anne Frank as a starting point for discussing the impact of unchallenged discrimination, they deliver
programmes enabling young people to become voices for equality and champions of tolerance.
Thanks to our funding The Anne Frank Trust was able to take sixteen young Ambassadors aged between 11
and 14 years on an inspiring study trip to the shores of Lake Windermere from July 29th to August 2nd. 2024.
The five-day excursion aimed to enhance their understanding of antisemitism and all forms of prejudice, honing
their skills as writers and storytellers. and deepening their appreciation of nature as a source of inspiration. This
trip was open to all ambassadors in years seven to ten, with a focus on younger ambassadors who are currently
too young for their trips abroad.
The ambassadors participating in this trip were from 11 different schools based in London. the Home Counties,
the West Midlands, the Northeast and Yorkshire. Many of them were from underrepresented backgrounds and
have lived experience of discrimination or hate-based bullyFng. The participants on this trip face challenges in
their lives including a lack of opportunities to take part in new experiences and meet people from different
communities. For most participants. the trip was their first chance to meet other ambassadors in-person. For
some of the city-based young people. the trip was their first opportunity to spend meaningful time in the great
outdoors.
.1 felt a connection with nature throughout the week. There's not much greenery where I'm from. I've seen so
many new things, having not been to the Lakes before. On a morning in my house, I don't hear the birds sing or
the rustling of the trees like I have here. It's a lovely relaxing environment." Thomas, aged 12, Teesside.
The restorative power of nature was emphasised as the young ambassadors learned about the Windermere
Children at the Lake District Holocaust Project. They saw an exhibition retelling Ihe Story of the 300-plus young
Jewish people who had survived the Holocaust and were brought to the Calgarth Estate in Windermere to
recuperate.
.1 never knew that children after the Holocaust came to Windermere. It was an incredible story to learn for the
first time.. Julia, aged 11, London.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Pa￿CIpantS in the 2024 Lake Windermere Trip with their certificates.
We have awarded a further 3-year grant of £IOK per annum from 2025126 to the Trust
FAFMr ÈIA CITY LHILPREry
Famis for City Children were awarded the fifth of their 5- year grant of £10.000 per annum in May 2024, having
previously been supported by Valerie Eliot. And the Trustees have extended the grant by a further two years to
end in April 2026.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
We commenced a further 3-year commitment with The Felix Project with the first award of £20K being made in
December 2024. The Felix Project is London's largest food redistribution charity- They rescue high quality,
surplus food that would otherwise go to waste and redistribute it to over 1.200 community organisations across
the capital.
2024 was a landmark year in their mission to tackle food waste and hunger across London. They rescued and
distributed enough surplus food to provide 38 million meals through their network 01 1,264 community
organisations and schools, while also expanding beyond food aid through the launch of Felix's Mulitbank, which
has distributed 1.46 million non-food items to Londoners in need.
Their success has been powered by their growing volunteer network and innovative approaches to food rescue.
from farm-t(Trfork initiatives to new processing techniques. Thevve established crucial partnerships, including the
Coronation Food Project with His Majesty the King and strengthened their collaboration with the Mayor of London
to address holiday hunger.
The Brttish Library (BL) is on a 10-year journey to redefine the national library of the 21st Century, transforming
how the public will engage with their extraordinary collections. Central to this ambition is a new permanent site in
Leeds to open their world-class resources to more people than ever before. They are working wtth partners
towards a BL presence in one of the North's greatest architectural wonders - the Grade-l listed Temple Works in
Holbeck. Leeds, which will support regeneration at a local, regional and national scale.
The Libra￿$ ambitlon5 for the North will support research, creativity, learning, collaboration and innovation
across the whole region, and as such. Ihe BL has been running a Cultural and Learning programme in Leeds
since 2019. This engagement activity will shape their vision for Temple Works and develop audiences for our
future permanent home in Leeds.
The Librarfs Leeds Cultural and Learning programme responds to the specific needs of the local area, building
on the strengths of their existing programming delivered onsite in London, their work with schools (previously
supported by the Old Possum's Practical Trust}, while also piloting new approaches for their learning and
community programmes. The Trust is supporting this work with an initial grant of £20K in 2024125 and
further annual grants of £10K.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trust also awarded £10,000 to the White City Theatre Project, £5,000 to Anno's Africa, £5,000 to
Hospital Rooms who install athork and run art classes in NHS mother and baby units.
We continued our annual support for the T.S.Eliot Festival at Llttle Glddlng with a grant of £5,000.
Financial Review
The investment fund generates income, which is used towards the objectives of the Charity. The fund generated
income in the year to 31 March 2025 of £110.772 {2024'. £106.963). In addition, we ￿ceiVed royalty income of
£78,530 (2024.. £43,000).
Grants made to various charitable institutions in accordance with the Charity's objectives totalled £405,375
(2024: £263,675).
After taking account of the above-mentioned grants together with costs of generating income (investment
management and legal fees) of £37.414 (2024: £35.500) and governance costs ol £15.949 (2024.. £19,538). the
charity is showing net incoming expenditure for the year of £309,386 (net income resources 2024: £545.835).
With funds brought forward totalling £5.958.502. there remains funds carried forward of £5.649.116.
Financial risk management objectives and polFcies
Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
Reserves policy
The Trustees have established a policy whereby the unrestricted funds, which are the free reseNes of the
charity, should be kept at a minumum level. The Charity has minimal operating costs and aims to distribute its
unrestricted income within the year of receipt. Adequate funds will be retained to cover the small operating
expenses and to enable the Trustees to respond to emergency applications for donations. which arise from time
to time.
Investments pollcy
There is no restrictions on the Charitys power to invest. The Trustees consider the income requirements, the
risk profile and investment manager's review of the market prospecls in the medium term. The primary
objectives are for a balance of income and capital growth using the indicator agreed of FTSEIAPCIMS Balanced
index with an appropriate income yield. The Portfolio yielded £110,772 (2024: £106,963) in the year and the
Trustees are satisfied with this performance.
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure* governance and management
The Old Possum's Practical Trust is an unincorporated charity registered with the Charity Commissioners under
registration number 328558 formed under the Trust Deed dated 29 January 1990.
The names of the Trustees who have held office during the year and since the year end are shown on page 7.
The Trustee to whom the day to day management of the charity has been delegated is Judith Hooper.
Until her death on 9 November 2012, Trustees were appoinled by Mrs EV Eliot as Settlor and Patron of the
charity. Following her death the current Trustees have the power to appoint new Trustees. The number of
Trustees shall not be less than two. Trustees do not have any speGifi¢ lerm of office.
New Trustees receive an induction from the Board which involves an awareness of a Trustee's responsibilities,
the Trust deed, administrative procedures and the history and approach of the Charity. A new Trustee would
receive a copy of the previous year's financial statements and a copy of the Charity Commission leaflet "The
Essential Trustee- what you need to kno￿.
Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co opted under the
temis of the Trust deed.
Trustees
J Hooper
C Reihill
D Simpson
Charity registered
328558
Principal office
The Pinnacle
150 Silbury Boulevard
Milton Keynes
MK9 1LZ
Independent auditors
MHA
Statutory Auditors
The Pinnacle
150 Silbury Boulevard
Milton Keynes
MK9 1LZ
Bankers
Arbuthnot Latham
7 Wilson Street
London
EC2M 2SN
Solicltors
Withers LLP
20 Old Bailey
London
EC4M 7AN
Investment Managers
W1 M {fomierly Waverton Investment Management)
16 Babmaes Street
London
SW1Y 6AH
Webslte
wvrn.tseliot.comlfoundationlold
ossums-trustl
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OLD POSSUM'S PRACTICAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Risk Management
The Trustees annually assess the major risks to which the Charity is exposed. These mainly relate to investment
management and the grant making process. The Trustees are satisfied that systems are in place to mitigate the
exposure to these major risks.
Disclosure of information to auditors
Each of the persons who are Trustees at Ihe time when this Trustees, report is approved has confirmed that:
so far as that Trustee is aware, there is no relevant audit information of which the Charivs auditors
are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be
aware of any relevant audit infomiation and to establish Ihat the Charivs auditors are aware of that
Auditors
The auditor. MHA. previously traded through the legal entity Maclntyre Hudson LLP. In reponse to regulatory
changes. Maclntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA
Audit Services LLP.
Approved by order of the members of the board of Trustees and signed on t
r behalf by:
J Hooper
Trustee
Date:
C Reihill
Trustee
Date..
~/,,J
zr
£5
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OLD POSSUM'S PRACTICAL TRUST
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including ils income and expenditure, for thal period. In preparing these financial
statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently..
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent-
state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements:
prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that Ihe
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Chariws transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them lo ensu￿ that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on i
ehalf by.
J Hooper
Trustee
Date:
C Reihill
Trustee
Date..
>s/,, /Lr
25
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OLD POSSUM'S PRACTICAL TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OLD POSSUM'S PRACTICAL TRUST
Opinion
We have audited the financial statements of Old Possum's Practical Trust (the 'charity') for the year ended 31
March 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows
and the related notes, including a summary of significant 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 Standard applicable in the UK and Republic of
Ireland, (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland (FRS 102) in preference to the Accounting and Reporling by Charities.. Statement of Recommended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
give a true and fair view of the state of the charitys affairs as at 31 March 2025 and of its incoming
resources and application of resources for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice- and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basts for opinion
We conducted our audit in accordance with Intemational Standards on Auditing {UK) {ISAs {UK)> and applicable
law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Con¢luslons relating to going concern
In audlting the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in Ihe preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the charitvs ability to continue as a going
concern for a period of at leasl ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going Concern are described in the
relevant sections of this report.
Page 14

OLD POSSUM'S PRACTICAL TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OLD POSSUM'S PRACTICAL TRUST
(CONTINUED)
Other infomiation
The other information comprises the information included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other informalion contained within the
Annual report. Our opinion on the financial statements does not cover the other information and. except to the
extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and. in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of Ihe audit, or
otherwise appears to be materially misstated. If we identify such material inconsislencies or apparent material
misstatements. we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a malerial
misstatement of this other information. we are required to report Ihat fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if. in our opinion=
the information given in the Trustees, report is inconsistent in any material respect wilh the financial
statements: or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounling records and returns., or
we have not received all the information and explanations we require for our audit.
Responslbilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the
preparation of the financial statements which give a true and fair view. and for such intemal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitys ability to continue
as a going concern, disclosing. as applicable. matters related to going concern and using the going concem
basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operalions, or have no
realistic alternative but to do so.
Page 15

OLD POSSUM'S PRACTICAL TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OLD POSSUM'S PRACTICAL TRUST
(CONTINUED)
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free
from material misstalement, whether due to fraud or error. and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatemenls can arise
from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities.
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below..
Enquiry of management around actual and potential litigation and claims.
Enquiry of entity staff in compliance functions to identify any instance of non-compliance with laws and
regulations-
Performing audit work over the risk of management override of controls, including testing of journals
entries and other adjustments for appropriateness, evaluation the business rationale of significant
transactions outside the normal course of busines5 and reviewing accounting estimates for bias;
Reviewing financial statements disclosures and testing to supporting documentstion to assess compliance
with applicable laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frG.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Use of our report
This report is made solely to the charitys trustees, as a body. in accordance with Parl 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to state to them in an Auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity
and its trustees. as a body. for our audit work, for this report, or for the opinions we have formed.
MHA
Statutory Auditors
Milton Keynes
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales
(registered number OC455542).
Page 16

OLD POSSUM'S PRACTICAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Endowment
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Note
Income and endowments from:
Donations and legacies
Investments
78,679
110,772
78,679
110.772
43,133
106.963
Total income and endowments
189,451
189,451
150,096
Expenditure on:
Raising funds
Charitable aclivities
37,414
37,414
435,448
35.500
296.937
435,448
Total expenditure
435.448
37,414
472,862
332,437
Net expenditure before net
(10ssès)Igains on investments
Net (lossesygains on investments
(245.997>
(37,414)
{25,975)
(283.411)
{25,975)
(182,341)
728,176
Net (expenditure)lincome
Transfers between funds
(245,997)
245,997
(63.389)
(245,997)
(309.386)
545,835
Total transfers
245,997
(245,997)
Net movement in funds
{309,386)
{309,386)
545,835
Reconciliation of funds:
Total funds brought forward
Net movement in funds
5,958,502
(309,386)
5,958,502
(309,386)
5,412,667
545,835
Total funds carrled forward
5.649,116
5,649,116
5.958,502
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 19 to 29 form part of these financial statements.
Page 17

OLD POSSUM'S PRACTICAL TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed assets
Investments
11
5,614,999
5.968,329
5,614.999
5,968,329
Current assets
Cash at bank and in hand
60,192
15,674
60,192
15.674
Current liabilities
Creditors- amounts falling due within one
year
12
{26,075)
(25,501}
Net current assets I liabilites
34,117
(9,827}
Total assets less current liabllities
5,649.116
5,958.502
Total net assets
5,649.116
5.958,502
Charity funds
Endowment funds
5,649,116
5.958.502
Total funds
5,649.116
5.958.502
The financial statements were approved and authorised for issue by the Truste
and signed on their behalf by..
ooper
Trustee
Date..
C Relhlll
Trustee
Date:
//
The notes on pages 19 to 29 form part of these financial statements.
44., [*
Page 18

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General information
The Charity is a registered charity in England and Wales and is unincorporated. The address of the
principal office is The Pinnacle, 150 Midsummer Boulevard, Milton Keynes, MK9 1LZ. The principal place
of business is Flat 3, Kensington Court Gardens, London, W8 5QE.
Figures in the financial statements and the notes have been rounded to the nearest whole number in
GBP.
Accounting policles
2.1 Basls of preparation of financial statements
The financial statements have been prepared in acGordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'tfue and fairf view and have departed from
the Charities (Accounts and Reports) Regulation5 2008 only to the extent required lo provide a 'true
and fairf view. This departure has involved following the Charities SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Old Possum's Practical Trust meets the definition of a public benefit entity under FRS 102. Assels
and liabilities are initially recognised at historical cost or transaction value unless othetwise staled in
the relevant accounting policy.
2.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expedation that
the Charity has adequate resources lo continue in operational existence for the forseeable future.
ThLts the Trustees continue to adopt the going concern basis of accounting in preparing ihe financial
statements.
2.3 Income
Al income is recognised once the Charity has entitlement to the income. it is probable that the
income will be received. and the amount of income receivable can be measured reliably.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending
distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is
treated as a contingent asset.
Page 19

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies {contlnued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs. including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared Gosts which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities. events and non-charitable trading.
Expenditure on charrtable activities is incurred on directly undertaking the activities which further the
Charivs objectives. as well as any associated support costs.
Grants payable are Gharged in the year when the offer is made except in Ihose cases where the offer
is conditional, such grants being recognised as expendtture when the conditions attaGhing are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment. but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date. unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of financial activities.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investrnents with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provlslons
Liabilities are recognised when there is an obligation at the Balance sheet date as a ￿sU11 of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and Ihe amount
of the settlement Can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts requlred to settle the obligation. Where
the effect of the time value of money is material. the provision 15 based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
.ItAL '[*:
Page 20

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A¢¢ounting policies (continued)
2.8 Flnan¢ial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al transaction value and subsequently
Tneasured at their settlement value with the exception of bank loans which are subsequ6ntly
measured at amortised Gost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income. gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Royalty Income
Donations
149
78.530
149
78,530
133
43.000
78.679
78,679
43,133
Investment income
Unreslricled
funds
2025
Total
funds
2025
Total
funds
2024
UK Equities and Unit Trusts
Interest Receivable
Overseas Equities
24,389
6,560
79,823
24,389
6,560
79,823
24,031
9.237
73,695
110,772
110,772
106.963
Page 21

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investment management costs
Endowment
funds
2025
Total
funds
2025
Total
funds
2024
Investment management
37,414
37,414
35,500
Analysls of grants
Grants to
Institutions
2025
Total
funds
2025
Total
funds
2024
Grants & donations
405.375
405,375
263,675
Page 22

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Grants Payable for the year
2025
2024
Educational Support
Ambler Primary School
Annos Africa
Barnsley Civic Enterprise Ltd - writing groups
Children's Book Project
Coram Shakespeare
Doye Mosse Productions (CNWIINK outreaGh project)
Famis for City Children
First Story Ltd
Herne Hill Station Hall - Kids. lilerary Festival
Hounslow Action for Youth
Magic Lantern
Read for Good
Sandy Hill Trust
The Anne Frank Trust
The Children's Bookshow
The Kittiwake Tnjst
5,000
5,000
4,300
500
2.500
5,000
2,700
10,000
40.000
5,000
5,000
10.000
1.000
2,000
5,000
2,000
15,000
15.000
2,000
15,000
20,000
116,200
55,800
Page 23

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Support for the Arts
Accidental Theatre
Berkshire Chamber Music
Bradford Literary Festival
Britten Pears Arts
British Film Institute
Brltish Fllm Institute - Powell & Pressburger exhibltion
British Library
English National Ballet
Festival of Cats
Four Corners Ltd
Friends of Little Gidding (Eliot Festival)
Garsington Opera Arts Hub
Headlong Theatre
Holland Park Opera
Hugenot Heritage Centre
INK from pen to performance
International Organ Festival
Jeremie Queyras - St Stephens exhibition
Little Gidding Trust - Farrar House - retreat centre
Lyric Theatre
National Opera Studio
National Theatre
Poetry in Aldeburgh
Propel Magazine Ltd
Royal College of Music
Royal Court Theatre (The English Stage Company)
St Stephen's Church- music
StAnza. Scotland's Poetry Festival
Stephen Spender Prize￿rust
The Little Angel Theatre
The Nucleo Project
Theatre 503
The Wigmore Hall Trust
Tomorrow's Warriors Trust
Troupe Productions Ltd
V&A Museum
Vox Urbane
White City Theatre Project
Wiltons Music Hall
Wordsworth Trust
Young Classical Artists Trust
Grant Refunded
5,000
2,500
3.750
3,000
20,000
20,000
15,000
20,000
15,000
15.000
2.150
2,500
5,000
7,000
5.000
5,000
2,500
5,000
4.000
5.000
4,680
10.000
2,500
5,000
5.000
2,500
5.000
25,000
3,000
5.000
5,000
5,000
15.000
4,500
5,000
5,000
15,000
6,000
4,500
s,000
2.500
5,000
5,000
40,000
1,000
5,000
30.000
1.500
10,000
5,000
10,000
5,000
5.000
(7,500)
190,580
227,000
Page 24

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Support for disadvantaged groups
Autism Bedfordshire
Guide Dogs for the Blind
Hospital Rooms
InterAct Stroke Support
Refuge
Ride2Give
The Book Trade Charity
The Daisy Garland
The Felix Project
5,000
3,000
5,000
1,500
5.000
5,000
1.500
27,675
5.795
20.000
62,175
17,295
405.375
263,675
Analysis of expenditure on charitable activities
Summary by fund type
Unrestrl¢ted
funds
2025
Total
2025
Total
2024
Grant funding. support costs. govemance costs and donation
to The T.S. Eliot Foundation
435,448
435,448
296.937
Page 25

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities
Granl
funding of
acttvities
2025
Support
costs
2025
Total
funds
2025
Total
funds
2024
Grant funding. support costs. governance
costs & donations
405,375
30.073
435,448
296.937
Analysis of support costs
Support costs
Total
funds
2025
Total
funds
2024
Salaries & social security
Bank charges
Sundry
Website costs
Governance costs- Audit and accountancy
11,547
60
9.840
59
3,020
805
2.517
15,949
19,538
30,073
33.262
Page 26

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10. Trustees. remuneratlon and expenses
During the year, no Truslees received any remuneration or olher benefits12024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
11.
Flxed asset Investments
Listed
Investments
Cost or valualion
At 1 April 2024
Additions
Movement in portfolio cash
Disposals
Revaluations
5,968,329
477,982
(213,446)
{531,597)
(86,269)
At 31 March 2025
5,614,999
Net book value
At 31 March 2025
5,614,999
At 31 March 2024
5.968,329
Page 27

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Creditors.. Amounts falling due within one year
2025
2024
Other taxation and social security
Other creditors
Accruals and deferred income
637
100
25,338
510
24,991
26,075
25,501
13.
Summary of funds
Summary of funds - current year
Balance al
31 March
2025
Balance at 1
April 2024
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
General funds
Endowment
funds
189,451
(435,448)
245.997
5,958,502
(37,414) (245,997)
(25,975) 5,649,116
5,958,502
189,451
(472,862)
(25,975) 5,649,116
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
Endowment
funds
2025
Total
funds
2025
Fixed asset investments
Current assets
Creditors due within one year
5.614,999
60.192
(26,075)
5,614,999
60,192
(26.075)
Total
5.649,116
5,649,116
Page 28

OLD POSSUM'S PRACTICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15.
Related party transactions
Old Possum's Practical Trust received a donation of £78.530 during the year from Set Copyrights Limited
(2024 - £43,000).
Page 29