R4gl#ered Ch•rfty Number. WU1149 Th¢ Tr• Aeport •Dd FlfftaDdal S¢aknuts Year Euded 5 Awll 2024
REPORT AND FINANCL4L STATE11[8 2024 PAEe l*pl and Administrntive Information Stat¢n% of Find1 A¢liviti¢$ 8-13
THE PRIMROSE TRUST REPORT AND FINANCIAL STATEMEfws 21124 LEGAL AND ADMJf41STrATIVE INFORMATION ReBiSter¢d Charity Nwnber. 8(K1049 Mal¢olm G(Ydon Cjwk REGISTEREDOFFICE 5 ClI81n Squa Cthliff CFIO 5BT RBC Brewin Dolphift yl Floor St Jamc5' Hou St JwnH' Square Chel*nham HR49 5 Call4hon S(pwe Cardiff CFIO SBT INDEPENDENf EXAMINER CFI19LI
IlluF3. ANNUAL REPORT FOR THE YEAR EI¥DED 5 APRtL 21n4 The tnjstets presert the rewt tlnancial Statll forthe year end 5 April 2024. The fi111 ha bccft wepared in with the aLWUntin8 1]GiCS set out on 8¢ 8 to thc finwrial stat¢ments and comply wih the Clwitics Ad 2011, the Finonci81 Rep(wtin8 stand 102 (effettive Janwry 2019) and the wovlslons ofthc trurt deed W 2 Aprll 199Q. Slrueturfy Governance and MaDAgemeDt The kn¢abk trust Wa5 CStablish¢d by Mrn mJOrIe Arthmy (lkcegsed) in A ScttlewKn¢ Dea d¢d 4 Wbe¥ 1986 und¢rthe law ofEand and W¢$. Tr Trnst is rryist¢ral with the awrity Ccffimlsslo re8istratlon number 800049. The winc11 objecti5 of thc Trust arc to mNke dollAtions and wnts to sud) ¢hBritabk in&ll10n$ (authorities in manner Is the TnLs may in their ibsol dirxtion think fiL The tsugtees ¢fjnfirni that tlw have Kf¢ff¢d to d Buidm oxIned in the Chjrity Comrnissioti's 8enernl guidance on public E¢txfit Whe Y¢viewin8 the Tht'S ims ond ¢bi&Jiv¢$ in planning future activitics and settln8 th Brnnt makin8 wlicy fLT the ycar. In ptsrti¢ulvthe trustees consider how plonned aaivities will nstitUte to the Charity'saims and thc objti tky have aeL ¢onsidex thot th¢y hv¢ c(Mnplied wlth thetr duty under s110 17(5) ofthe ChfiTitic5 Aot 2011. Detslls ofth¢ 8#rv¢d tlYou8houtthe yur •nd sinc¢ th¢ year4nd ore xt on p8e l of th¢se The trnstees prnvide their rviLTS without clwrye and no TrustK5' ffmunerntion was pid dwin8 the year, AppoiDlmMt of n¢w trust¢¢S 15 th¢ diw¥tion ofthe ¢xi5ti118 Irus1¢¢5. On apwintmenL new tnk8ttts are provid1 with infonnation on the structure, rthirtlstratlon, policles and prrttdurej of the frurt and tk thttics of thE Trustee& WheTC appmpri•t¢ and (kdIng on the ¥xisti08 knoed8¢ and experlence in the clmrities ofthr iNomin8 Trn$t. new Tnth¢ As grAtI to mider whether tkny would knefit fiDm external trainin8. New •r¢ bri¢frd ftbow Ctrdrlry's jectIveS and how they knve PKen •chi¢ved in the psL All mattery of pollcy marn8ement are detemiined by the Thulees rnrtinely n%e twi & yar to Ayee th¢ eals tht WAII be succusfvl in r¢ceivin8 donition8 for th¢ yw. ProLbedurn and Poll¢y for DoDatlonB The tsvste¢$ wue8t writlen applleAllons submitted to the wist¢red offl¢¢. Thetrustees mcet wmually to •wee appea15 IhAt will bc su(Y¢5sfi in re£civing dOnlon1 ftir th¢ year. Gtants ue made to choritles which provide • boKfi¢ to the 8en¢r41 public. The trust$ will awwd doMtion8 to capitsl 0JectS •nd tomvds ordimry harity C%pwljJrC. Cur¢spond¢n¢¢ i$ not ¢ntered into unless At relates to donatlons that the chaTIty to Objetdvu And Aetlvltl The obitttives of the charity incJudin8 the making lIY are as follows: The tre¢S mus¢ alY the Inrne of the dwlty and at thelr disttdion may spend all or Ixrt ofthc capital of the ity to mak¢ 8rart5 to or8anislltions that are re8i5tered cljaritics unthr the laws of England 4nd Wales or thnt are oth¢rwisc rwised as chariti¢5 by the Comrnissioneys ofthe lnIar Revenue. The trustces, aim is to identify suitsbl¢ projeLts fwKwidqion und welcome Itten applicati1 to the re8iStveA offiLY. The tnths Int to providing donll¢ions in a similar w•y u previou8 years relainin8 flexibility as ts th? timiJ¥ a1 scale ofthe d<Mw¢i(m.
ThE PRtMROSE TRUST The Thiste¢s hve ab501utc discretion as to er to approv¢ to any Fwticular applicant and will not 8iV¢ Achlevements and Performanee Iring thE year to 5 Aprfl 2024. dornlions made oF£I15,000 to a totsl of 6 dwilable LY8anisations (£]20,( f the yw to 5 April 2023). Tr largest for IA5.( mnde to An11 Asia Th¢ rmainin8 donions Ae for sumsof between £5.IXIO to £2(). The trustK8 look do8ety at all owlication5 N befoR them with a vknvto lookin8 at the numberof pthtml bNRficiarAes and are knen to ensure tha( as fu as possible grnnts we awAr&d thern ts ¢iilxr th¢ nccd 4f the withBt bc4Kfit to the pbjl Th¢ To18 hve lS](rtd the Clwlty C4)mmlssion'& guid•nL on the (yeration of public I1 unthr the amrities A¢t 2011 and consid¢rdMt the Tequtramts h4v¢ m Flnandal R¢vl¢w and IDVMtIDent Polley The incomin8 SOu£S ofthe tn]st forthe yeAr to 5 Awil 21A4 arnounted to £144460.68 (2023 £143.5n.i i), of whkh £139.246.88 wa5 8enerd frtyn Ats Inv1 held with RBC Brewin Dolphin. Tr balance of ine of£5213.80 relates to infftresL Of tkn out8oin8 Tes(AMre$ £115.(XX) diStribd by WAY of dritable and Lxher expMw ab £40.519.89 re6ultin8 In eXpilUre ex¢018 I1¢ by £l1.059.21 (2023 £17,12323). Th¢r• a witivo Kt mw•n¢nt in fillxls for the year of £257.430.91 (2023 ne8atsve- £366,485.67) whlch hos bean the trnnsfeff¢d to unr¢stricted fun¢1 The bthn of the unregtrl¢t¢d fund at S April 2024 Am¢Att¢d to £5,213,093.3S (2023. £4.955.662.45 The ¢Ortind to derfve hs InLTh% fran inveing in quoted shttres and sKuriti¢& The of Invegtments und discret manogement RBC Bmvin Dolphin was £4.760,057 at 5 April 2024 (2023- £4,685,944). The tntss undcrth • modeJ rlsk polky and inv¢stment wf(ym8r is regularly reviewed. The Tru#ees mainthin a written invcslrne po]Icy klmher detail# the m•nwcnL rijk a1 ethikmj policy ofthe InVeStrrtfUnth. Reserveg Polley The tswteei oimte a slnsie wrel¢t&l is represtht¢d by the mwket value of invesknerfs and ne¢ ¢ath u1 Io s81¢ incLYn¢ for dirilxttlon on •n lsi& Rlsk Management Trtrwtees Inmty review the risks dwt dwlry To thM¢ ha nminly Rlated to inves1 8Th1 tlKse hav¢ been addr¢ssed by divetsifKd Tli0 mana8emenL The trustres #R aware of the risks of fraudwlent appAiLiolls beln8 rt¢eived •nd ¢onlinuv their vi8ilxKe in ¥sxssln8 ap]
THE PRIMROSE TRUST Plani tor Future Per¥ Thé trn#¢es Intend th CIllU¢ with their tnvestmeni policy of choosing ethi1 companies that do not tr•de In arn)s or dirKdy test on anima15. The emphasis on 8ifts to animal rclatcd charities will cotrtinue. bu¢ gifis will not rari]y be exdusive to animals.
DwJ*n En¥tlLw ID: 9BEtW&408143D>A8Ft>FM7AFF830fv2 THE PRiMROSE TRUST fNDEPENDENf EXAMINER'S REPORT TO ThE TRUSTEES OF TIIF. PRtMROSE TRusr l port to the trusiees on my exarnination of th¢ financial statements of The Primrose Trust (the Charity) for the year end¢d 5 April 2024. ResponslbllltieB and bash of report As the charity's trustees you are responsible for th¢ preparation of the accounts In accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the charity's acwunts Carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions 8iven by the Charity Commission under section 145(5)(b) of the Act. Independent eumlner's ststemeDt I have c4Jmpleted my examination. I confwm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting recoNb w¢re not kept in respect of the charity as required by section 130 of the Act: or 2. the accounts do not accord with those records 3. the accounts do not comply With the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirem¢nt that the accounts give a 'true and fair view, which is not a matter considered as part of an independent exarnination. I havc no Concerns and have Come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Farzana Ahmed FCCA Independent Examiner Carston ETL 1st Floor. Tudor Housc 16 Cathcdral Road Cardiff CFI19LJ Date 21410£
THE PRIMROSE TRUST STATEMENf OF FINANCIAL ArnIES Yearend•d 3 April 2024 Nots 2•24 2024 INCOMING RESOURCES Investmtmt UK dividends and fixed interest %aJriti¢s IntsTe Te4vIb 139.246.88 521310 141968.46 603.65 TOTAL INCOMING RESOURCES 144.460ffj8 143.572.11 RESOURCES EXPEP4DED CoAt of CTh•rltsbl• •cdvlti•i: Donations payable Crft of 8¢¥er•d•8 fomth: Sto¢kbrok¢r fe¢$ 13 115.(KYJ.CKI 12Q0.1X1 30,661.09 30.652.00 f$ Ac<oimtaw fees- overyyovision for 221L1 7.940.OQ (400.} 7,900 450.00 lrnkp¢nd¢n¢ examiner fee- under•wovision r¢ Carston's fee for 202f23 390.(KJ 1,088.80 1,653.34 40,519.89 40,695.34 TOTAL RESOiiRCES EXPENDED 155.519.89 160,695.34 NET ourG0G RLSOiTRCES FOR THE YEAR (11,059.21) <17,123.23) I1YG OB Inv•stments rn*lh¢d Galnl(Ims) OA Inv¢stm¢nts UDroallRd Ei¢us nport•bl¢ In¢oll io io (11937.() 281.427.11 94,482.28 (445,186.31) 1341.59 (366,'485.67) 257,430. TOTAL FUNDS br••¢ forward Al 6 Awll 2023 4,955,66245 5.321148.12 5.213.1)93.35 4.95&662.45 All 8ains and losses have i1[d In the FAawn¢rt of Fin4nciJl A¢tiviths •ndth¢ arUnts In¢lkd are derived from continuing aclivities ofthe TrIt. The Not¢$ (m pa8¢5 3 to 13 forni part of these fin11 statem.
BALANCE SHEET 5 Aprll 2924 ed #(Kks and skn (at market value) io 4 760 057A 331. 384.68108 85,723.J4 155.05 91 211.602.VJ 59,178.88 155.05 Brewin Dolphin TVerabl6 470.89127 271.028.45 CREDITOILS AND PROVISIONS Ikloitte LLP Ident EXamIr.5 fees 8.400.IKI 1.680.(N) 7,,775.92 (860.00) (450.(Q) 17 855.92 453 036J5 5 213 1)93.35 269 718.45 4 955 662.45 5 213 093.35 4 955 662.45 TheNotes PA8es 8 13 forni ofth¢se flMn¢ial The fin•Kial Acmcnts ofThe PrimThK Tnt T¢8islered dwlty rnknnber 880049 WEre aR)roved SIWd by th* MG(I• 01 June 2025 120:23:30 8ST
THE PRIMROSE TRUST Vujr ended S Apnl 2024 Thc Charytabl¢ Trust was e5tabli5hed by A Sdtlem¢M Deed dated 4 Seoanbu 1981 by Mrsmwiorie Anthory (deceased) underthe law of En8land and Waks. Thc tnw is wist¢ffd with th¢ ChArity Commluion Reg No. 800049. At¢ovllni Pollel¢J 'AccountiThB and Reportin8 by Charities, (SORP January 2019). Financial Reporting Stsndard 102 and appli¢ibl¢ United Kingthm Unting slandath Tr partiC4nIillS polide5 adopt¢d by thg tsus43 Are derIbed below. (•> GolDi COtrn The tru$le¢s ¢on$ithr that tk charity sufficient r¢sOW to c(mtinue in operntiona] exin¢e forthe foreseeable firtura The Trurtecs hv¢ a Mson&bl¢ exFdatim that the ¢lwity is wtll plaeèd to mana8e busingm successfully de5Pit¢ the cunErt ¢conomi¢ ¢loOk. A¢cordingly. th¢y continue to adop g soin8 ¢onccrn b41ig in preparin8 the finon¢ial $tts. (b) B•ili of Aeeountlni Th¢ finan¢iAI ststunthts are pr¢wed uThler the hi5torid C(XM4rtion as modified by the revaIlI0n of invutments. (c) Fnbd vwiDdn8 unrestric fvnds 4r¢ available for use at the discret1 ofth¢ tru¢8 to fvrtlxr any of the thaTity's purpo. (d) Incomlthg re8ourttJ All income is rec08n1s in sts¢ent of finpnGial a1ville5 when the tt10nS ethtitkment rettip¢ have been tttt and the is It)nAble assuran¢¢ of rK¢ipL WhetE a claim for r¢paym¢rt of thx will be made, Ihis 16 shown as tsx ffcovrrabl (e) Ckarltlth att11¢% Grnnts mode by th¢ tAt are cl agftinst incLMne in the yev in [Ch tly are award Direct chBritAble eXPltire iKiudes all allUTe dircdjy related to th¢ oLy#ts of the charity •nd
THE PRIMR05E IRUS NOTES TO THE ACa)uNrs Year ¢nded 5 AP 2024 (Q Sjpport lld Govern¢¢ c( Govern costs atr the wdministrntive and management CC4ts In support of ch8ritablc obierts. Thc5QC4)sts inclth ¢osts asSOCiOted with Meeti th¢ ¢4)DStitutiornl statutory wvirements ofthe charity. t08 Charit4)le expenditirt fflat¢s to manigenkirt and administration eosts included on an ac016 ba6is aThJ is dlray r¢laled to thr objeLts of the ¢hArity. Expernliture is recor&d 0¢ thc ts1 has made an uAc4mditional ¢ommitinent 10 w th¢ 8rant and this is communieatrd to the b¢n¢fi¢iary or the has bec pai4 whKkv¢r is Il earficr. The chvity has not made any 8rani LxThmitinents of more thAn one year. Costs of 8¢nerntin8 fvnds ¢ompriÉe the ockbrthr fces and charFs relat¢d to mawijw th¢ iThve8lmart PLthlio for tlx charlty. Invoth¢ots Lisicd inlrslrnents ar¢ lted at a closi middle mA>et price •s at J April 2024. All movements In Ve are shown in th¢ statubl of Financial AGtiv1¢i from li8ted Investm Is rKwlsed ag ine4Xn¢ lotIrWIth any •ssOci ncoverable inLxJme tnx ortsx crlIL R¢alll WMI unNli8ed gains ond losses are Shown xparatety in the apprqjrlate sect1( ofthe Stfttan¥rt of Financi A¢tivltl¢s. The Tnot is a r¢8is¢¢rnd ¢kwity and is awnpt from inwme and ¢0110n 1 capital 84ins tax wovided its In¢ 8ains are for chwitsble purposc& R•laled Party Tra¢¢10$ TrUtt, •XP•MU •YMI Ymllmeradoo During the year to 5 Aprll 2024, Mal¢o]m Clark i tntstee ofThe Prirn Tnut Te1Ved £1.088.80 as Thu¢ no fvll or part•time pJnployees during the CUTrent or priwye•r.
En¥dope If. 99ED6Cfvl4A8FrFA47AFF8&)A2 THE PRImRIE TRusr NOTLS TO IHE ACCDiINTS Year emded 5 Apil 2All4 GRANTS PAYABLE The followln8 8rnnts wtre m•d¢ in accor with the Tn.& obicctiV¢5: 2024 Number Number Grants (Note 13) 21)24 eogt ofceD•rntlD8 Fuods 30 631(KI 30 65100 7,940.) (400.(M)) 840.(X) 390.00 7.940.1)0 Acwiitw fe4q. Ovrrprovision in wioryear Intynderf exthttlnatlon fees - Un&rpwvi$ion in prior year C4r8ton fe4 450.00 53.34 10 043.34 9.858.80 Totsl Ci>sts 40 695.34 Exp¢idllur• Galnkn Blne¢ at 21123 lanee It 2022 Ineom¢ ExpAdllur• Galnkn BolA•re at 2023
THE PRIMROSETrU5T Yegr ¢nded S Aprll 2024 All tnvestswts wtrn held in th¢ UK I1 prre follows: 20 UK & Ovetseas Fix1 Global F4Uities UK Equitics 53Q780.00 3.001,328.00 1,227,949.00 576,653.iMJ 1.827.83L(KI 1281,453. MArk¢t value 5 Ajril 2024 4 760 057.00 4 685 944.(Xl 2•23 Markrt valuc 6 AFil 2023 Additions DiSpClS ([SyGaIn on investhients rdised GliL) on inv¢51mcnls uw¢aliMd 4,683,900 3,011.70 (197,388.81) (12,937.00) 281 427.11 5,067.120.(XI 325.062.82 (355J34.79) 94,482.28 445 186.31 Market luC S April 2024 4 760 057.1)0 4685 944. StlC cAJst 5 April 2024 3 415 133.04 3 622447.15 The fair value of list¢d investments is detemiln¢d by r¢ftrnor to the qtrd prtr% for identi S¢ts in th activ¢ market ai the Wonc¢ sheetthte. IA. LIABILrfiES: Amour5 FALLING DUE WITHIN OI¥E YEAR 2024 2023 8.400.00 1,680.00 450.00 17 855.92 io. 11
Enwh¥e ID: 99E[c14Jtjm6FA47AFF&8al2 ThE PRJMROSE TRUST N(YfES TO TIIE AC(X)i]Nrs ye elldod 5 April 2024 AI ANAL[s OF ASSE75 BETWEEN FUNDS Cipltsl fund Incom¢ fud Totsl UJrestrlct¢d fundi 20 Totsl Unrestrlcttd 331.00 17,369.87 155.05 331. 470.4(.22 155.05 91.63 270.781.77 155.05 Cash at bank And in hand In¢01 tsx rveryb1r 453,036.35 4 760 057.00 4 760 057.ix 4 685 944.IXI 5,213.093.35 17,855.92 17 855.92 5,230,949.27 17 855.92 5 213 093.35 4.95A9r2.45 IASS Il•billtl 13 093.35 4 955 662.45 The (xpitsj o)mpri (i) Th¢ amourt 2¢ttled Jin¢< th¢ Tn1 ¢mted; {ii} Movements in inve8tinffll TOI]0. (iii) Iths w5ts of mainlainin8 the pIt such &8 brokus. f¢ 12
Doualyn En%* ltr. Et)AKl-I3D>AIFA17PFFB THE PRIMROSE TRUST NOTES TO ACCDUNTS Year •Dded 5 Aprm 2024 i& ANALYSIS OFCRANTS Animttls Asia Founthiii) Britlsh Fkn Welfare HUn8ar4 Vi28J• Welf•r Chlrity LangfoTd Tru4 for Animil Health & Welfare Lx48uc A8aIn8tCn] Sp5 (LACS) Towrr Hill Stsblc5 Wking for Wildlife University of Edinbwllh thlMo10 Departhi¢nt Worldwide VeterirAry Service 45,0(MI 10,0 45.000 10,000 10,000 5,000 ioooo Totsl 120.0(M) IJ