The Icthius Charitable Trust Reglstered Charlty number 803299 Annual Report and Financial Statements for the year ended S April 2023 THE ICTHIUS CHARITABLE TRUST Contents Ye¥ ended 5 April 2023 Pago Report ofthe Trustees 24 In¢kpendent Ex?mlner's Report St4iernent of Flnandal ACti￿tIeS 8alance the•t Notes to the Accounts &13 THE ICTHIUS CHARITABLE TRUST Report of the Trustees for the year to 5 April 2023 6 Deceffthr 1989 MTS D M BlaCkF￿rn Charitsblo Sèttltmtnt th•r5tynumb•r. 3299 Settlor: Mrs Mary 81ackbJrn On 18Apnl 1995. 17.LIX Standard Chartered plcord 25p shares were added to thè seitlemenL On 26Af•rll 2012. E150,((*J cath was added to the SettIen￿t. On 25 Awril 2017 £IcKJ,O33.￿ ANZ Bank Or(linary NPV sharts, £49,988.44 Leeal & General 23p OrdThry shares and E49.896 Diaeeo 28 1011108p Ordinary 5hare5were added to the settlement. 8 May 2017 £I2¢L￿ cash was added tc the setvernenl. On l J￿e 2018 E105AAX) ush was added to the setllernenL On 18 September 2019. 1.50) Ola8eo PLCTrd 28 IOV108p shores were added to the settlement. On 25 June 2020. 4.LKQ Balllle Glfftird C￿seaS Grovrth Fund5 iaa55 B American Fund Income Unltsl shafes Twere added to the settlement. On 13JaN4ry 2021, 7.8>)$1￿dard Chjrtered KC USSO.50 shares were Jded to the settlemenL 27 May 2021 £125.(XQ cash was added to the settlement. Cn 14 November 20211.IfJ) Shel PLC fO.07 share5were added to the setuement. (th 30 March 2023, l539 Defwent London PLC Ordinary 5p shares wère added to the settlement. On 30 Marth 3)23. 1.665 Da8eo Fic Ordln•ry 28 I￿lI08P shares were added to the setdemeni. On 30 Marth 2023, ￿,840 Lwl & Genera Group PLC ￿[Thary 2.5p shares were added to the settlement. G¢w•rnlnK DO¢￿￿•nt. Trust Deed TheTrustees have the pty￿t0 ap￿V all thè Income and all or part of the ¢apltal for any tharitsbie purpose. A¢tlbltles •NI Aflde¥en￿Dts. Income receipts in the year to S Iwril 2023 toialled £369.955 which along with cash reserye of £10.702 held at 6 April 2023 enabled £161,C¥X to be distri￿ted duringtheyear. THE ICTHIUS CHARITABLE TRUST Report of the Trust••s for the year to 5 April 2023 (continued) The trustees confirm they have referred to the Buldan¢e In ihe Charlty Commiss•on's general gLldance on public benefit V&then reiAevAngthe d￿rIty$ obiéctivts ènd ad￿litIeS and in plann￿0 fvture artiwities. 11 istht jud8ement of the trustees that aclNiliès in wryjit of the above objectNes fvI￿ meet the public benefii tsst. ¥thlch they have kept in mind in operational F4annln8. Mrs D M 8la(kburn Mr T M BFackbum Mr M D R Shapley Mr A D Evans Prfndpl *Aklrtss.' l Kirfs Arms Yard London. EC2R 7AF Existl￿TrUStees have power io appoint Iiew trustees Alder Invesimer*t Mana8tm*nt Limited l Kln¢s Arms Yard London, EC2R 7AF ountsnts.. AlderAsset ManagthMew•t LSm5te l Kin¢s Arrn5 Yard Lorth. EC2R 7AF Ind•p•nd•nt Emwnlnffs: Prf¢e Bailey LiP 24 Old Bond Stfeot London $4AP The Tnjstees distnlMJte majority ol the irKorne durlng the year. On (xcasM)ns Trustees wlli reduce the overall fvnd orKe the income has been exhausted for the year forfvrther dlrtrfbutlons. At the year.end 5" April 2023. Ihe reserves had the ft>llowin8balantes: Unrestrkted Fund-£4J.244 Endowment F￿￿- £1.189.Ir28 GdnilJowed. subiert tt> any mater1* departures disclosed and explained in the fmanchil statements: Preparè th* financial stattmenis on thè wn8 Contem basis unltss ft Is Inappropriate to presume thai thè charlty wlll continue in operatlon. The Trustees are respM*ble for kert￿n& a¢¢ounilng recwds that disdose T•Ath reasonabk a¢oJrw at any time the flnancial pO￿tIon otthe tharity and enot4e them to ensure ihat finanrial statements ¢ompty with the Charltle5 A 2011. the Charlty IAccounts Reportsl ￿gUlationS 2￿8 and trust deed. They are also reSpons￿lIe for safe8uardln8 the assets of the charity and hence for taking respoDSible steps for the prevention and detection of Ira¢Jd and other Irregularltles. rhls repo s approwed by the Trustees and is Si￿ed on behalf of thern bv: MrMDR pl•v Date: THE ICTHIUS CHARITABLE TRUST Indepondent Examlner's Report I report t¢ thetharltyTrustees on my examlnationof the accounts of the tharfty for the year ended 5 Aprfl 2023 which are set oul on pages 6 to 13. R•sporni￿7￿1*$•nd lj•sls ol r•wt As the charit¢5 frustees you are respLm%l>le for the preparation of thè accounts In accordance with the requ1￿mentS ofthe tharilièsAtt 2011 {tthe Acri. Hathg5at15fied myselfthat the accountsof the ￿n￿n¥•re not requlredto be audlted under Part 16 of the 2CI)6 Act and are eliwt*le ft>r independent examlnatlon, I report in resF*d of examination of the charitws accounts r3rried out under section 145 01 the Act and in rarrying out rry exawmnation I have folknT*ed all thè applicable Directions Ri¥en by Ihe Charity Commisslon under section 14515llbl of thekt. Ind•p•nd•nt•x•rnlnerfs stst*M•nl since the companV$8rossincome ex¢eeded E250.Cts) ¥ourexamTnermust a member of a bo* listed in se¢tion 145 of ihe 2011 Act. I conflrm that l am qu*lfied to undertake the examirotion because l am a member of7he Institute of Chartered Attountants th England and Wale8 whkh 150ne ofthe Ilstul bodles I have eonweied my examinayon. I confirm that no materlal matters ha¥t ccffi￿ to my attention in connectlon wlth the exarnination KNing m• causè to believe that in any material we5pect: l. Account4n8 recordswere not kept in re5pectal the dwrity as r￿vITed by SeC￿n 130 of the Act: or 2. The accounts (k• not accord with thoR records; t 3. The accounts do not comply with the applicable rewrements ¢M￿rnIng the lorm and content of atcounts settyJi In the Charitie5 IAttountsand Aeportsl Reguiatws 20)8other than any requliementthat the Kcount3 8ivè a'trut •nd faIr￿￿ whi¢h is I￿t a matter consldered as part of an independent exarninatlon. I have no concerns and have corne across no other Matters In ConnectiL￿ Wbth thè *xarThnatlon to wlyth attenllon should be drawn In this fepDrt in order lo enable o propw Under5tsndI￿ ofthe accountsto be reath￿. Mithael coope1-D￿[S FCCAACA For and on behalf of: Price 8•ley LLP Chartered Attountants 24 Old 8ond Street London W154AP Date.. 5 February 2024 THE ICTHIUS CHARITABLE TRUST Statement of Flnanclal Activities Yoar ended 5 Aprll 2023 2023 Totsl 2022 Totsl Fund5 Note Investments 34.516 34.516 29.342 Donatlons and le8acies 335.439 335.439 Totsl IrKome 369,955 369JS5 29J42 E¥pendlture: Charltable artTr¥ities 164. 164.C64 40.874 Total *X￿ndIt*• 164A )M74 Net J)5ml IIL5321 Net galns/110sse51 Investments (B7.￿)$? 187.SOSI 64.572 Transfers 1259,3481 259J48 Net rnovernent ￿ fvnds 153A57) In.843 118386 53.040 R•tonclli*llon of lund& Totsl funds brou8hi forward .701 1.017.185 1,111.886 1,054846 Total funds cavrfed fonvard 41,244 1,1•3,028 12302n LIIIW6 All Income and expendturèderlve from continulrrd actlthles. The statement of fin•n¢lal artl¥tttes fi￿￿des all ylns and bsses re¢￿ts¢d during the year. The note5 on pages 8 to 13 ft>rrn part of the5eaccounts THE ICTHIUS CHARITABLE TRUST Balance Sheet At 5 April 2023 202> 2022 Note F•xod hsets Investments 1,189.028 1,017.185 Oebtors Cash at ￿nk Y1.29) 10.702 34.728 &J.XJ2 c￿￿ent U•blllties Credltors 17081 13291 41244 94701 hs•ts 12ao.272 I,IiiN6 F￿ndS ￿th* Chw Uniestrfcted funds Endowment funds 41,244 1.189.028 94.701 1.017,185 12Y)2n &iiiW6 The fin7ncial statements were approved and sirtned by theTruste¢styi S-Z*tsZg and slgned on thelr behalf by: MIMDRSh￿l¥ The notes on pKe$ 8 to 13f¢mi part of these xcounts THE ICTHIUS CHARITABLE TRUST Notes to Ihe Accounts Year ended 5 April 2023 l. A¢coun1l￿ Polklts •. Ge￿•r￿ lrform•llon basts o1•¢¢￿1 The Icthlus Charltable Trust is a tharlty lor public benefft rrystered under the Chority ComMi￿10n in EnBland and Wale% The address of the IK1￿1￿1 address is l KlrfsAfmsYafd. London. EC2R 7PF. Thè charity tt*nstitutes a pubkc benefit entity as defined by FRS 102. The financlal statements have been prepared in accordance wilh Ac(ounlin8 and Reporting by Chariiie5: Stalement of Recommended Prlctite applicable to chadties weparlng ihelr accounts In accordince with the Flnancial Reporti￿ Standard applkable in the UK and Republic of Irdand IFRS 102) Issued on 16 July 2014. the Financial Reportin8 St￿dard appllcable In the Unlted Kingdom and Republic of IrelaNI {FRS 1021. the Charities Ad 2011. the SORP 2019 and UK General￿ Accepted pra￿lee. The ffnandal statements have been pr￿fe￿ to and fairf Nièw and hav• dèpart*d from th• Charit5es lAtCo￿ts and Reportsl Re8ulatfjons 2CW to the extent required to wo¥ldea'trueand falr¥Sev/. Thlsdeparture ha5 involved following AccountiT¥ and Reportir4 by Charities preparlng their accounts in accordance wlth the Flnanoal Reportlr8 Standard applicable in the UK and RepubTrK of Ireland IFRS 1021 t55ued on 16 july 2014 rather than the Atcounting aftd R*portiNA by chari￿*$.. Statement of Recommended Practlce effectl¥e frorn l Aprll 21x15 which has slnce been wlthdrawn. The flnancial statement5 are prepared underthe historical cost eomfention. rnodiffied to indude tertain items at fair value.Thefinancial slatement5 are prepared In sterlingwhich isthefund*>nal oJrrencyof thetharity. Thesignificant accountln8 pol1cl￿ applled In the preparatlon of Ihese financial statements are sel ¢)ut bel¢)w, These policbes havt been consstendy èppled to all years presented unless otheThAse ststed. The financial statements have been rounded to the nearest r￿und. b. Golni ¢a>K•rn The Trustees have at the tlme of approvlnq the financial statements, a reasonable expectation that thè charity has adequate re￿UrCeS to tontirtue ￿ operatlonal existence for the fweseeable future. COVID-19 wlll have mlnlmal effects on the charity due to there being no staff t05ts the charity only spends what they earn through invèstments and from trustee donatlons. Thus they continue to adopt Ihe ￿ncern basis of accounti￿ In prep4rin8 the financial ststtrnents. No material uncertainties exisi. c. 11K¢J￿ Inwme from inve5tment$ 15 ￿￿rded by refsyW to the date on whkh charlty Is entrtled to rettlpt. Bank interest Is recorded on an accrualsbJg5. Income e•med w endown*nt fvnds is unrestrirttd incgme. Donations are recoKnised when receivaue. lfv the event that a th)natiM Is subiert to condltitins that requlre a lèvel of performance before the charity Is entitled to the fvnd, the incorne is deterred and not recognised unlil either tho* Conditions art fully met. or Ihe fulfillmeht of those conditions is wtrw)Jly within the control of the chafity and It Is probable that those condlllons will be fvlfilled in the reptyting period. THE ICTHIUS CHARITABLE TRUST Notes to the Accounts Year ended S Aprll 2023 d. EXpenth￿re All expenditure 15 a¢¢ovnted foron an aLzruals basls and ha5 been dassified under headlres that aggregate am costs related tothecate80ry. Expenditure i5recognlsed where therels a legal orconstructlveobligation tomakè payments to thlrd partles, It Is probable that the settleftRnt￿l1 be required and the arnwnt of theobligation can be measured reliabty. It is tategorised ￿￿erIhefC10￿￿he•JInV. Expendlture on charitable arti¥itsesindudEsgrants m*Je. gobtmèrttcosts and an apport1￿ment Of wpport ¢osts. GraAts payablè to thlrd p￿￿eSore V&tthln the dwritsble oLyec¢ive& Where uncon(Jith)nal yants are offered, this Is accrued as soon as the redpient is notified of the grnn( as thls wes rlse to a reasonable expeclation that the recipient VAII recefve the grants. Where granls are ¢on¢*tloThal relating to perfornianee, the grant Is onty accrued when irw unfv1fi11￿ ￿￿lItionS are ￿tsfjde thecontrol olthe thjrity. Investrnents are J fom of basit finan(ial instrument and are inittally reC￿￿sed at iheir and svbsequent measured at their fvir value as at the balance sheet date usin8 the dogna quotèd markèt prTrce. The statement ot finandal actlvitles ind￿Je5 the net gains and losses arwbw on reVa￿at￿L￿ and disposals throughout the yèaf. The eharlty does not acqulre put optsons. derNatives or otscornpl¢¥ firwrial instwrnen￿ The rna￿ form offlnanclal rtsk faced by the tharity is that of ¥oladllty In equity markels and investment marke15 due to w￿der econ￿11¢ conditions, the attitude of investorsto investment risi and tharw Sn sentlment concern1n8equit￿$. f. Fund *tttyJtttkn8 General funds are unrestrlded fundst*hith are awlable fw use al the dixretiw ofthe govemor5 in furtherance of the general objectives of the charlty which have been de￿Ona￿ lor othw wrpo*s. Endowment funds represent those assets whith must be held permanently by the d)arlty. prlnclpally investments. Income arisin8onthe ttsjowment funds be used in accordance with theobjertsofthecharityand is induded a5 urwestricted Income. capital 8ains or k1$￿ arising on thè inv•strnents form part of the fvnd. Investment i￿orne. Ba￿$ and105se5are alrt)catsd to theapprnpriate fl￿d. £. D•btors Acuued incorne is inelth at the best estimate olthe amounts receithle It the b*r)¢e shett date. h. Cash •b)d c•sh •qulv•lerts Cash ai bank Includes cash held In ojffenl and dEpo￿t accounts. Creditors and promsions afe recogni￿ when the thority has a F￿ent obli#atioTr rèsulting from a past event that wlll probably result in thè transfèr of lunds to a third party the amount due to Settle the obli8atTrtin can be meayjfed or estlmated reliabty. Creditors and wo¥isitins arè rewnL%ed at their settlement amount after allowln8 for any Irade dlscounts duè. 10- THE ICTHIUS CHARITABLE TRUST Notes to th• Accounts Year ended S April 2023 l. Aeeowrtlw Polkl•s Icontlbw•d) J. rI￿nd￿l Instrurn•nts The tharity only has flnancial assets and finandal Ilabilities of a klnd that qualifyas basic financial instrurnents. Basic rinandal instDJments arè initialty recognlsed at cost and subsequentty measured at thelr settlèn*nt value. Fthed sset5 are recorded al rnarket vahje and al other assets èThJ llalyliti￿ are recorded at cost whith is thelr fair value. th. K•y xw7¢•5 d jthmtnt estin¥tion No sl8niflcantludgements. accountirf polKFes ￿ assumptions have been made by Man￿ernent in applwn8 the charltvs accountlngpolkle& 2. ￿￿•MelloM In¥eJtments 2023 2022 Dividend income Bank interest 34.516 29.335 34.516 29,342 All relate to unrestrlcted f￿￿$ In both yews 0gn•tk>ns •nd i•p¢l•s 23 2022 Monetary donalions lincludir¥Gift Abjl 335,439 All relate to urre5trKted funds in both years Ch•rtt•bleArtl¥ltl•s 2023 2021 Grants to In$￿tUtiOnS (note 51 Support costs- governance costs 161.cnl 38,21X) 2,674 164. 40.874 All relate lo unrestricted lunds in both years Durlng the year, no Trustee recepied nDr war4ed any r*nwneration. bènèfitsor expÈnses12022- £nill. There were no employee5 ernployed bythe tharlty IN the yeai12022- £nlll. The tharity consider5 that there are no key managtment person￿1 other th4n theTru51ees therrtselves. Within the SUPFKKt tosts figure indudes Pric• Bailty independent èxaminerfeesof £3￿12022- E3301. 11 THE ICTHIUS CHARITABLE TRUST Notss to the Accounts Year ended S April 2023 S. Gr•nts to Inst#￿10n$ 2022 Camphlll Wllage Trust The Woodland Trust National Trust RNU Sl8ht 5avus Internatitinal R.&P.B Hope and Homes foi ChNdren The Castle Howard thorebJm Tru The York5hife Wldllfe Tru51 Ea5in8wold Town Band Center forActlon and Contemplation TheTirnSlead Trusi SSMV YorshlreArboretum li0.￿) io.thj j i 20.( 161JK#) & r￿d hs•t Ih¥*stm*)ts 2022 At market Value os at S Aprl lJ)17.185 Anaty5is of inve#rnents: 2ff22 Brought forward Addltlons at cost Sale5 proceeds Realised and unrea113ed Profitlllossl on Investments 1,017.185 381,054 I121.7￿1 987,144 ).106 1124.6371 187.5051 64,572 1.189J128 Im7.185 2022 Histo￿al cost 1.111,891 870,081 12 THE ICTHIUS CHARITABLE TRUST Not•s to the Accounts Year ended 5 April 2023 7. Debtors 2012 Accrued Income (Gift Aidl 31,250 34.728 2022 Accruals 329 9. Fwid Reconuliatio Balance •t S Apill 2023 Curr•nt Y•ar 6Aprll 2021 In¢om• Trnnsf•Ys Endowment Fund Unrestricted Fund 1.017.185 94,701 369.955 1875051 259,348 1259.3481 1,189.028 41,244 i.iiiwfj 369.955 11640641 187,5 1230272 Prkjr Yur 8ahnce 6 Awll 3)21 In¢¢xnè 5 April 2022 Endowment Fund Unrestricted Fund 987,144 71.702 64.572 134.5311 34.531 1.017.18S .701 29.342 14Q873} 1,058046 29342 140Mni 64S71 I,iii Thètransfer between funds was undertaken in both finantièl years to show the endowmtnt fuThl carry foThvard as the m?rket value of Investments. Therefore Ihe transfer fi8ure conyises the wui*tion cost, dispo￿1 protetds and reallsed gainsllosses. 13- THE ICTHIUS CHARITABLE TRUST Notes to the Accounts Year ended S Aprfl 2023 9. An￿¥505 of Nel Ass•ls Ixtwe•n FWMIS Atnds Totsl 2023 In￿lMentS O*btors 8ank Credltors 1,189.028 1.189,028 31,250 10.702 17081 31.250 10.702 Totsl IletAss•ts L189X•I8 1230.2n Totsl 2t Inve5trnents Debtors Bank Credit 1.017.185 1,017,185 34.728 ,>)2 13291 34,728 Totsl Net AM•ts 94701 1,017,115 1,111086 10. Related P•rtl•s Mr5 D M 81ackbJrn Is a 7ft￿tee at The Icthlus Charitable Tfusl In 2023 she mlde total contributions to the charity In the year of £ 338,91712022- ENIII. There were no other related party tran$art￿5 ￿ the ￿r. There Is a varlance between thetotsl Wntrll)ui￿s to the dwlty Jbo¥e and the total donations per note 3. Thls Is due to a correttlon to 81ft ald accruals durwthe year whKh has reduc￿ donaihms Intsi* 31 by E3.478