THE STRAIGHT FORWARD TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present thelr annual report and financial statements for the year ended 5 April 2024.
The financial stalements have been prepared in accoiukince with the accounting policies set out in note 1 to Ihe
financial statements and comply wlth the trust's goveming document, the Charities Act (Norlhern Ireland) 2008 and
2013 and "Accounting and Reporting by Charities- Staternent of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102). (as amended for accounting periods Gommencing from 1 January 2016),
Objectives and actlvltles
PreseNing for the local community and the County of Down the propertiès al Crawfordsburn Road, Nèwtownards.
County Down known as 116 Crawfordsbum Road, Cavallo Fami and Ch8deville Farm together with any other lands
her8dltsments and Premises which the Trustees may acquire in the County of Down unspoiled and properly
maintained and for the promotion of conseNation including the protection of botanical, bird. animal, insect and other
SP8cies on the said properties and lands but only insofar as any such form the Trust Fund or part Iher6of' (ill
promoting and supporting the use by the Charity known as "Riding for the Disabled" (or oth8r charity carrying on the
same or slmllar function) of Cavallo Fam for as long as il is posslble and appropriate for that to occur. (iiil
promoting and supportlng the advancement of young and aspiring riders in Ihe equestrian field generally with a view
to inter alia promoting and supporting thelr education in stable and equlne management and exce118nc8 in their
riding ability whether in relation to show-jumping, eventing. dressage or otherwise including with particular referènce
to young people from dlsadvantaged backgrounds. Ilv) promoting and supporting the use of Charleville Farm as a
base for a charity or charities involved In anlmal welfare andlor veterinary research partiGulady research inlo equine
illnesses, diseases and injuries; (v) support of charilies involved with the care and welfare of horses, ponies and
donkeys andlor the promotlon of rtding and equestrian sports (particularly for th8 benefit of children and young
persons> andlor the care of animals,. Ivi) othetwise such charitable purposes at such time or time5 and in such
manner as the Trustees may in thèir absolute discretion think fit.
Public benefil
The Trustees have paid due regard to guidance issued by Ihe Charity Commission in deciding what activities the
trust should undertake.
Activities
Grant Givlng Acllvities
The Trustees have the discretion to make grants within the terms of the Trust Deed.
The Tnjstees are wnsidering putting In place a spending rule of annual 9rants relalive to average assets to ensure
that grant-giving is sustainable in the long-lerm.
Operatlng Activitles
Aside from grant-giving, the Charity does not cuffenlly undertake direct operating activities as Ihis would require
signrficantly more resources than are currently avallable including land. buildings and full-time stsff.
Responsibility and Reporting
The Irustees are responsible for the all the assets of the Trust Fund and sound administration of trustee meetings.
The assets of the Trust Fund are regulady monitored and assessed annually and reported to the Trustees.

THE STRAIGHT FORWARD TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Achievements and perfomiance
Significant actlvities and achievements against obj8Ctlves
Whilst the Trust was establlshed in 2011, it was not able to make meaningful achlevements agaSnst its objectives
owlng to an initial lack of resources,
In the year ending 51h Aprll 2023, the Trust recelved g .
During the year endlng 5th April 2024 no additional donatlons were received into the Trust. The Trust's unrestricted
fund was set up in line with the Trust's Investment Policy Statement to provide a durable basis for grant- giving
activitles, with grant-glving commencing in the financlal year.
The Trust made the followlng donations to UK Charities
£1.000 Riding for the Disabled
£2,000 PDSA (Belfasl branch)
£5,000 Air Ambulan￿ Northern Ireland
.ation of £550,000.
£5,000 The Prince's Trust (Northem Ireland)
£13,000 Total
The totsl amount of grants represents approximately a spendlng 2.6 /4J of the average value of the Investments held
in the year.
A spending wle is under conslderallon to help budget annual grant-glving with reference to the average annual
value of the investment portfolio, such Ihat it can be Considered sustainable.
Flnanclal revlew
During the year the Trust used its income to start trig Investment programme to set up an unreslrictsd fund to
enable future grant-giving activities.
When doing so, the Trustees had to consider the following risks, and ways to mitigate them:
Legislative Risk.- Charity legislation and guidance goveming charltles In Northem Ireland may change. To mltlgate
this risk, the Trustees are mindful of any proposed Changes and can seek legal advice if necessary.
Invastment Risk., Grant-giving by th6 Trust depends on the investment portfolio being prudently invested not only to
support annual grant giving. but also to keep pace with Inflation. The Trustees can mitigate this risk by ensuring that
the assets of Ihe Trust are safely held, properly and professionally managed wlth due regards for dlversiflcation,
liquidily and value for mon8y. Thls risk is mitigated by having an Investment Policy Statement with clear Investment
Objectives and Risk Constraints. The assets of the Trust are invested in UK regulated daily dealing investment
funds. A spending rule would help budget annual grant-giving with reference to Ihe average annual value of the
Investment portfolio. such that it can be consldered sustainable.
Personnel Risk.. the Trustees act on a pro bono basls. With three Trustees, there is scope for appointing addltlonal
Trustses should a Trustee retire or be incapacitated. As the Trust does nol undertake any operating activilles, it
does not require any salaried employaes. This materially reduces personnel risk.
Operating Risk.. as the Trust does not currently undertake any operating activities aside from grant-giving, hence
this risk is currently seen to be negligible.

THE STRAIGHT FORWARD TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Reserves policy
It is the policy of the Trust that unrestricted funds whlch have not been designat8d for a speclftc use and do not fom
part of the investment portfolio. should be maintslned at a level equlvalent to be￿een three and six month's
operating expenditure.
The Trustees consider that reserves at this level will ensure that, In the event of a slgnifieant drop in funding or a
drop in the value of the investrnent portfollo, they will be able to ¢ontinue the trust's GU￿ent activlties while
consideration is given to ways as to how operating oxpenditure can be me( if requirèd.
This level of reserves has been malntsined throughout the year.
Based on the Trust's annual operating expendlture of £3,861 approxlmately £2,000 should be held in reserves to
meet the Reserves Policy.
Investm8ntpoliGy
In order to ensure that the Trust can make grants for the long-temi. its assets are Invested in an investment portfolio
to create an unrestriGted fund. The investments are managed in Ilne with the Trust's Investment Pollcy Statement.
The Trustees. investment powers are set out in the Trust Deed. Wilh respect to Income, the Trustees may dlstribute
or accumulate Income.
Structure, governance and management
The Trust was created by a Deed of Trust dated 19th April 2011 betW88n Lady Perdila Maureen Hamilton-Templ8
Blackwood (Ihe Séttlorf) and Mr Pim Dalm, James Armslrong and Mr Jan Bally ('th8 Trustees").
Following the retlremenl of Mr Jan Bally, Mr Henry Cobbe was appointed as Trustee on 28th August 2015.
Following the retirement of Mr Plm Dalm, Mr Patrick While was appointed as Trustee on 12th February 2019.
The Trustees who servèd durlng the year and up to the date of slgnature of the financial ststements were:
Mr Henry Cobbe
Mr James Armstrong
Mr PatrickAWhite
Recfuifment and appointment of trustees
The power of appointing new Trustees of the Charfty during the lifetime of the Settlor is vested in the Settlor and
after her death In such person or persons lif any) as the Settlor shall by deed or deeds revocable or irrevocable or
by Will or Codicil appoint and in the absence of any such appointment by the Settlor a Trustee may be appointed or
discharged by a resolution of a meeting of the Trustees provided that a memorandum shall be signed as a deed by
the person presiding at such meeting and attested by I￿0 other persons at the meetlng. The total number of
Tnjstees shall at no time exceed five.
The Trustees currently have no immedia18 plans to recruit and appoint further Trustees.
The company's current poli¢y conceming the payment of trade creditors is to follow the CBI'S Prompt Payers Cod8
{copies are availabl6 from the CBI. Centre Point. 103 New Oxford Street, London WC1A 1 DU).
The ¢ompanYs current policy conceming the payment of trade Creditors is to:
settle the lerms of payment with suppllers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by indusion of Ihe relevant tems in contracts.
and
pay in accordance with the company's conlraclual and other legal obligallons.
Trade creditors of the company at the year end were equivalent to 180 day's purchases, based on the average dally
amount invoiced by suppliers during the year.

THE STRAIGHT FORWARD TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Organisetionel slruclure
Induction and tr8ining of tn4Stees
Tmstees are encouraged to read or re-familiarise themselves with relevant Charity Commisslon of Northern Ireland
Guidance including-
CCNI EG024 Running your charity guidance
CCNI EG042 Monitoring and compllance guidance - getting it right
Othermatters
Beneficial Int8r6St
Neither the Settlor nor th8 Trustees have any beneficial interest in the Trust.
Organisational sfruGlure
The Settlor meets with the three Trustees at least once a year lo discuss the activities of the Trust.
The three Trustees meel formally once a year to review and decide on the activities of the Trust, includlng intended
Grants to be given to reglstered charities operating in Northern Ireland that are consistent with the Trust's
Objectives.
Thè Trustees receive regular reports from the Trust's Accountants. Bankers, and Inveslment Managers and
convene meetings to discuss and act on the same If rèqulred.
Concluslon
As the Tnjst expands its grant-glving actlvitles, the Trustees will ensure that there are robust systems, processes
and controls to ensure the good governance of the Trust.
The Trustees, report was approved by thè Board of Trustees.
Mr James Armstrong
Trustee
Mr Patrick A White
Trustee