R4gl#ered Ch•rfty Number. WU1149 Th¢ Tr• Aeport •Dd FlfftaDdal S¢aknuts Year Euded 5 Awll 2024 REPORT AND FINANCL4L STATE￿1￿1￿[8 2024 PAEe l*pl and Administrntive Information Stat¢n%￿ of Find￿1￿ 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 C￿lI81￿n 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 Illu￿F3. ANNUAL REPORT FOR THE YEAR EI¥DED 5 APRtL 21n4 The tnjstets presert the rewt tlnancial Statll￿ forthe year end￿ 5 April 2024. The fi￿￿111 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 m￿JOrIe Arthmy (lkcegsed) in A ScttlewKn¢ Dea d*¢d 4 Wbe¥ 1986 und¢rthe law ofE￿and and W￿¢$. Tr Trnst is rryist¢ral with the awrity Ccffimlsslo￿ re8istratlon number 800049. The winc1￿1 objecti￿5 of thc Trust arc to mNke dollAtions and wnts to sud) ¢hBritabk in&ll￿10n$ (*authorities in manner Is the TnL*s may in their ibsol* dirxtion think fiL The tsugtees ¢fjnfirni that tlw have Kf¢ff¢d to d Buidm ox￿Ined in the Chjrity Comrnissioti's 8enernl guidance on public E¢txfit Whe￿ Y¢viewin8 the Th￿t'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 obj￿ti￿ tky have aeL ¢onsidex thot th¢y hv¢ c(Mnplied wlth thetr duty under s￿110￿ 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 apw*intmenL new tnk8ttts are provid￿1 with infonnation on the structure, rthirtlstratlon, policles and prrttdurej of the frurt and tk thttics of thE Trustee& WheTC appmpri•t¢ and (k￿dIng on the ¥xisti08 kno￿ed8¢ and experlence in the clmrities ofthr iNomin8 Trn$t￿. new Tnth¢ As g￿rA￿tI to mider whether tkny would knefit fiDm external trainin8. New •r¢ bri¢frd ftbow Ctrdrlry's ￿jectIveS and how they knve PKen •chi¢ved in the psL All mattery of pollcy marn8ement are detemiined by the Thulees ￿ rnrtinely n%e* twi￿ & yar to Ayee th¢ eals tht WAII be succusfvl in r¢ceivin8 donition8 for th¢ yw. ProLbedurn and Poll¢y for DoDatlonB The tsvste¢$ wue8t writlen applleAllons submitted to the wist¢red offl¢¢. Thetrustees mcet wmually to •wee appea15 IhAt will bc su(Y¢5sfi￿ in re£civing dOn￿lon1 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%pw￿l*jJrC. 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 ￿lI￿Y are as follows: The tr￿￿e¢S mus¢ a￿lY the In￿rne 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 fwKwidq*ion 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¥ a￿1 scale ofthe dA8Ft>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￿ T￿e4vIb￿ 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 GolDi CO￿trn The tru$le¢s ¢on$ithr that tk charity sufficient r¢sOW￿ to c(mtinue in operntiona] exi*n¢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 $￿t￿￿￿ts. (b) B•ili of Aeeountlni Th¢ finan¢iAI ststunthts are pr¢wed uThler the hi5torid C(XM4rtion as modified by the revaI￿lI0n 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 a￿1ville5 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) Ckarlt*lth att1￿1￿¢% Grnnts mode by th¢ tA￿t are cl* agftinst incLMne in the yev in ￿[Ch tly are award Direct chBritAble eXP￿ltire iKiudes all a￿￿llUTe 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 ac0￿16 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 V￿￿e are shown in th¢ statub￿l of Financial AGtiv1¢i￿ from li8ted Investm￿ Is rKwlsed ag ine4Xn¢ lo￿tI￿rWIth any •ssOci*￿ ncoverable inLxJme tnx ortsx cr￿lIL R¢all*l 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 ¢01￿10n ￿￿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 T￿e1Ved £1.088.80 as Thu¢ no fvll or part•time pJnployees during the CUTrent or priwye•r. En¥dope If*. 99ED6Cfv￿l4￿A8Fr￿FA47AFF8&)A2 THE PRImRI￿E 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 Acwiit*w 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 B*l*ne¢ 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 I￿1 prre follows: 20 UK & Ovetseas Fix￿1 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 DiSpC￿lS ([￿SyGaIn on investhients rdised Gli￿L￿) on inv¢51mcnls uw¢aliMd 4,683,9￿00 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. St￿lC 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 q￿trd prtr% for identi S¢ts in th activ¢ market ai the Wonc¢ sheetthte. IA. LIABILrfiES: Amour￿5 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[￿c￿￿14Jtjm6F￿A47AFF&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 r￿￿veryb1r 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¢ Tn￿1 ¢mted; {ii} Movements in inve8tinffll ￿T￿OI]0. (iii) Iths w5ts of mainlainin8 the ￿pIt￿ such &8 brokus. f¢ 12 Doualyn En%* ltr. ￿Et)￿A￿K￿l-I3D>AIF￿A17PFFB 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￿] Sp￿5 (LACS) Towrr Hill Stsblc5 W￿king for Wildlife University of Edinbwllh ￿th￿lMo10￿ Departhi¢nt Worldwide VeterirAry Service 45,0(MI 10,0 45.000 10,000 10,000 5,000 ioooo Totsl 120.0(M) IJ