the george cadbury trust (george, henry t and laurence j

The George Cadbury Trust (George,Henry T and Laurence J CadburySection) whose working name isGEORGE CADBURY FUND 'B' ACCOUNT

Audited Financial Statements

Year Ended 5 April 2019

Charity No: 1040999

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

YtfHOSE vvORKING NAME IS GEORGE CADBURY FUND 'B' ACCOUN I

Report and Financial Statements for the year ended 5 April 2019

Contents

Page:

Reference and Administration details

5 r

Report of the Trustees

Re~ort of the!ndependent Auditor

Statement of Financial Activities

Baiance Sheet

9-13 Notes forming pari oi I.ise Financial Statements

Trustees

Mrs Anne LK Cadbury

Mr Mark Cadbury

Mr Roger VJ Cadbury

Mrs A Janle C Jbury

Mr Benedict Cadbury

Trust Administrator

BDO LLP, George Cadbury Fund 'B' Account, Two Snowhill, Birmingham, B4 6GA

and this is also the registered address of the Trust

Accountants

B00 LLP, Two Snowhill, Birmingham, B4 6GA

Independent Examiner

Michael Dufty Partnership Limited, 61 Charlotte Street, The Counting House, Birmingham,

B3 1PX

Investment Managers

Smith and Williamson investment Management, 3rd Floor, 9 Colmore Row, Birmingham, B3

2BJ

Bankers

Lloyds Bank, University of Birmingham Branch, 142 Edgbaston Park Road, Birmingham, B15

2TY

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION) WHOSEWORKING NAME IS GEORGE CADBURY FUND 'B' ACCOUNT

Report of the Trustees for the year ended 5 Aprii 2019

ANNUAL REPORT OF THE TRUSTEESThe Trustees present their annual report covering the Trust's activities for the year ended 5 April 2019.HISTORY, 0$3ECTIVES AND ACTIVITIES OF THE TRUST

The Trust was established under Trust Deeds dated 11 April 1924, 21 3anuary 1952 and 22 3anuary 1952. Additionallythere are fourteen subsidiary Trust Deeds up to 30 September 1949, a Settlement dated 9 January 1952, a Deed ofAppropriation dated 21 January 1952 and the Trust Deed dated 23. January 1952 mentioned above.

The registered number of the Charity is 1040999.The objects are summarised as being for or to such charitable objects, purposes, institutions, or societies as the Trusteesmay in their discretion think fit with no deFined beneficial area.The Trustees have the authority to appoint Trustees,

SUMMARY OF THE ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFITThe subscrlptlons and grants made to charities in the year enable the charities to meet their objectives and to providebenefit to the public.

The Trustees have confirmed that they have reFerred to the guidance in the Charity Commission's general guidance onpublic benefit when reviewing the Trust's aims and objectives and in planning future actwities and setting the grant makingpolicy for the year.

MANAGEMENT AND GOVERNANCE ARRANGEMENTS

The names of the Trustees who have acted during the year are set out on page 1.The Trustees meet once a year, in July, to consider and approve the previous year's accounts and to formulate and plantheir grant making policies and activities for the coming year.

The Trustees are appointed by the Board of Trustees. New Trustees receive copies of all relevant Trust documents and ofthe Charity Commission guidance. Appropriate training is organised for the Trustees.The Trust is administered by an administrator who is a not a Trustee but who is acting on behalF of the Trustees.

PROCEDURES AND POLICY FOR GRANT MAKING

The objectives of the Trust are to support from the income of the trust by grants, charitable institutions, and objectives atthe Trustee's discretion.

The policy of the Trustees is to allocate part of the Trust's annual Income by way of annual subscriptions. The list isreviewed annually in 3uly, when any additions, deletions or amendments are made. The remaining annual Income Isavailable to Trustees to make donations.

ACHIEVEMENTS AND PERFORMANCE OF THE TRUST

During the year charitable grants were made to 110 different charities totalling 6466,306.The largest grants made were:

Rowheath Pavillion

Dean Ik Chaper Gloucester Cathedral For Dorothea Hoyland ChoralWentworth Woodhouse Preservation TrustKings College SEF (Cambridge)UNICEF

Bristol Old Vic Trust

Blood Sikes

30,00025,00025,00020,00018,50015,00015,000

NO Other grant eXCeeded 615,000 (3.21'/s Of the tOtal made) and a further analySIS IS glVen in nate 4 On pageS 10 tO 11 tethe financial statements.

Examination of the schedule of charitable grants on pages 10 and 11 will show that the Trustees have fulfilled theobjectives of the Trust during this financial year by making grants to charitable institutions; therefore, providing benefit tothe public.


WHOSE WORKING NAME IS GEORGE CADBURY FUND 'B' ACCOUNT

Report of the Trustees for the year ended 5 April 2019 Icontinued)

FINANCIAL REVIEW, INVESTMENT POLICY AND RESERVES

These accounts for the year ended 5 April 2019 have been prepared in accordance with applicable law and United KingdomAccounting standards (United Kingdom Accepted Accounting Practice) and comply with the statement of RecommendedPractice (SORI') Accountmg and Reporting by Charities rx5102 errective rrom ianuary 2015. Till llllanclal stalenlcn s aleprepared under the hrstorical cost convention.

The investment income for the year of E448,682, Is a decrease compared to the previous year by E5,091. The expectedincome for the year was E435,000; therefore, the actual income exceeded expectations.

Management and admmistration expenses and the Investmcnt advisor's fee for the year amounted to E85,207, the value orthe investments of the Trust increased by E1,692,913, of this amount E482, 021 related to realised gains and E1,010,234re!ated to nreali ed gainS and the overall surplus for the year of E!,389,474 was added to the funds brought forwardfrom the previous year. During the year cash of E250,000 related to unspent income was transferred from the generalfund to the!nvestment I'und. Net costs of E49;347 were suffererl by the Investment fund domina the year and need to bereimbursed by the general fund.

Under th e Dead of --- "- sI'e Trustees arc empovered at tl;e!, absolut discs.„!I..n!o ho!d and make investments whe!herauthorised by law for investment of trust monies or not. The Trustees are empowered to use the investments in the samemanner as income and there is therefore no fixed endowment fund and no restricted investments.

At a meeting of the Trustees held on 9 )uiy 2001 the trustees agreed to implement a total return policy which would allowfor up to 1'/0 of the market value of the investments being used For income purposes in each accounts year beginning from

-6 Apr!1-2001-but. that there-should-be no.carry-forward-in a year-where. less. than a full. withdrawal was. required. .T)us facilitywas not used during the year to 5 April 70!9 nor in previous years.

The investments of the Trust are held in the name o!' Smith 8 Williamson Nominees Limited which is the approp!'iate holding

company of the Trust's investment advisors.

Quarterly the Trust's Investment advisors report in detail on the performance of the investments.

During the year the Trust's investments increased by 9.8%.

Twice a year the Trustees responsible for overseeing the investments meet with the investment advisors to discuss reports,policy and perl'crmance in data!L

General unrestricted funds

It is the policy oF the Trustees, having regard to the specified designated fund referred to below, to maintain the Generalunrestricted funds, which are the free reserves of the charity, at a level which equates to approximately 3 monthsexpenditure on grants and management and administration, currently free reserves represent approximately 7 monthsexpenditure. Such funds may be held in order to finance both working capital and capital investment ln furtherance of theobjectives of the charity.

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURYSECT(ON) WHOSE WORKING NAME IS GEORGE CADBURY FUND '8' ACCOUNT

Report of the Trustees for the year ended 5 April 2019 (conBnued)

Designated funds

Designated funds are amounts that have been put aside out of unrestricted I'unde at the discretion of the Trusteesfor particular purposes. The designation is for administrative purposes only and does not legally restrict theTrustees discretion to apply the funds. The Trustees have created the following designated fund:

Investment fund

To provide the income necessary to maintain the TrusCs charitable activities, the charity requires a significantcapital base and the Trustees have maintained an active investment policy in order to provide a degree of stabilityand certainty in income levels. In the circumstances the Trustees have created a designated Investment fund thatrepresents the government stocks and other listed investments held in the charity's investment port(olio.

Details of movements in the funds are set out in note 6 on page 12 of the accounts.

The assets reflected in the balance sheet are available and adequate for the Trustees to fulfil the obligations of theCharity.

RISK MANAGEMENT

Having regard to the Trust's organisation and activities, it is the view of the Trustees that the major risks to whichthe Trust may be exposed are largely financial in nature, particularly a significant reduction in income generated bythe investments.

The Trustees review the major risks which the Trust faces on a regular basis and believe that maintaining freereserves at the levels indicated below, combined with regular meetings with the Trust's investment advisors tomonitor performance, wiN provide sufficient resources in the event of adverse conditions.

FUTURE PLANS

It is intended to use the funds described above to continue the objectives of the Trust, as earlier described,indefinitely. This means that the Trustees will be looking to make charitable grants of circa 6380,000 (6365,000-201B) on an annual basis. Practice shows that several charities have received support on an annual basis, albeit ofvarying amounts, and this policy is unlikely to change in the near future.

GOING CONCERN

There are no material uncertainties about the Charity's ability to continue as a going concern.

Approved by the Board of Trustees on and signed on its behalf by

[email protected]

@TrusteeMr Roger Vj Cadbury

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY

SECTION) WHOSE WORKING NAME 5 GEORGE CADBURY EUND 'B' ACCOUNT

Independent Auditor's Report for the year ended 5 April 2019

Opinion

We have audited the fmanoal statements of George Cadbury Trust (George, Henry T and Laurence I CadburySection) (the "Charity" ) for the year ended 5 April 2019 which comprise the statement of financial activities, BalanceSheet and notes to the financial statement, including a summary of significant accounting policies. The financialreporting framework that has been applied in their preparation is applicable law and United Kingdom AccountingStandards, including Financial Reporting standard 102: The Financial Reporting standard applicable in the UK andRepublic of Ireland (United Kingdom General!y Accepted Accounting Practice).

In our opinion, the financial statements:Give a true and fair view of the state of the Charity's affairs as at 5 April 2019 and of its income and expenditurefor the year then ended;

have been properly prepared in accordance with United Kmgdom c enerally Accepted Accounting Practice;

~ have been prepared in accordance with the requirements of the Chanties Act 2011.

Basis for opinion

We conducted out audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of thefinancial statements section of our report. We are independent of the Charity in accordance with the ethicalrequirements that are relevant to our audit of the financial statements in the UK, induding the FRC's Ethical Standardand the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordancewith these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a bases for uur opiniun.

Conclusions relating to going concern

We have nothing to report in respect oi the following matters in relation to which the ISAs (UK) require us to reportto you where:' the trustee's use of the going concern bases of accounting in the preparation of the financial statements is not

appropriate; or' The trustees have not disclosed in the financial statements any identified material uncertainties that may castsignificant doubt about ihe Charity's ability to continue to adopt the going concern basis of accounting for a periodof at least twe!ve months from the date when the finanriai sratements are authorised I'or issue.

Other information

The trustees are responsible for the other information. The other information composes the information included in

the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financialstatements 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in

doing so, consider whether the other information is materially inconsistent with the financial statements of ourknowledge obtained in the audit or otherwise appears to be materially misstated. If we Identify such materialinconsistencies or apparent material mlsstaternents, we are required to determine whether there is a materialmisstatement in the financial statements or a material misstatement of the other information. If, based on the workwe have performed, we conclude that there is a material misstatement of this other information, we are required toreport the fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of theaudit, we have not identified material misstatements in the Trustees' Annual Report.We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires usto report to you if, in our opinion:~ sul'i'icient accounting records have not been kept;

the financial statements are not in agreement with the accounting records and returns; or' we have not obtained all the information and explanations necessary for the purposes or our audit.

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURYSECTION) WHOSE WORKING NAME IS GEORGE CADBURY FUND 'B' ACCOUNT

Independent Auditor's Report for the year ended 5 April 2019 (continued)

Responsibilities of the trustees

As explained more fully in the trustees' responsibilities statement, set out on page 4, the trustees are responsible forthe preparation of the financial statements and for being satisfied that they give a true and fair view, and for suchinternal control as they determine Is necessary to enable the preparation of financial statements that are free frommaterial misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as agoing concern, disclosing, as applicable, matters related to going concern and using the going concern basis ofaccounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realisticalternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frommaterial misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance withISAs (UK) will always detect a material misstatement when it exists. Hisstatements can arise from fraud or error andare considered material if, individually or in the aggregate, they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these financial statements. A further description of our responsibilitiesfor the audit of the financial statements is located on the Financial Reporting Council's webslte at.[www. frc.org. uk/auditorsresponslbilitles]. This description forms part of our auditor's report.

Uee of our report

This report is made solely to the Charity's trustees, as a body, In accordance with section 144 of the Charities Act 2011and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state tothe Charity's trustees those matters we are required to state to them in an auditor's 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'strustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robert MacLaren FccA (senior statutory auditor)for and on behalf of Michael Dufty Partnership LimitedStatutory auditors61 Charlotte StreetThe Counting HouseBirmingham63 1PX

Oated: 5 Februa. ry 2020


WHOSE WORKING NAI)AE IS GEORGE CADBURY FUND 'B' ACCOUNT

5taternent of Financial Activities for the year ended 5 April 2019

INCOME AND ENDOWMENTS FROM:

InvestmentsTOTAi

Note

I I ~ restrictedFunds2019

448,682448,682

UnrestrictedFimds2018

E

453,773453,773

EXPENDITURE ON:

Raising funds

Charitable activities

Grants

5uppoit costsOther expenditure

52,956

466,3067,763

24,488

51,497

379,3407,445

23 596

TOTAL EXPENDITURE 551,513 461,878

wrT rNrnssE EEFnpE rNVnoraaENT r arNc;

/(LOSSES)(102,831) (8,105)

Net gains on investments 1,010,234 364,301

NET INCOME 907,403 356,196

OTHER RECOGNISED GAINS/(LOSSES)Realised gains/(losses) on investment assets 482,021 (64,748)

NET MOVEMENT IN FUNDS

Total funds brought forward

TOTAL FUNDS CARRIED FORWARD

1,389,474

15,200,060

291,448

14,908,612

16,589,484 15,200,060

All activities derive from continuing operations.

None of the income funds are restricted.


Balance Sheet as at 5 April 2019

FIXED ASSETS

6Note

2019 2018

investments 16,445,087 14,752,174

CURRENT ASSETS

Cash at bank and in hand

investment Income Receivable

LIABILITIES

105,91953,254

159,173

422, 73158,754

481,485

Creditors: amounts falling due within one yearaccruals 7 (14,776) (33,599)

NET CURRENT ASSETSNET ASSETS

144,39716,589,484

447,88615,200,060

THE FUNDS OF THE CHARITY:

Unrestricted funds 16,589,484 15,200,060

Approved by the Board of Trustees on ~ 0/0 & /& 0& 0 and signed on its behalf by

TrusteeMr Roger VJ Cadbury

THE GEORGE CADBLIRY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION)

WHOSE WORKING NAIIIIE IS GEORGE CADBURY FUND 'B' ACCOUNT

Notes to the financial statements for the year ended 5 April ZOIC

1. ACCOUNTING POLICIES

These accounts for the year ended 5 April 2019 have been prepared under Part 8 of the Charities Act 2011 and

applicable Regulations.

Accounti 9 conva Ion

These accounts for the year ended 5 April 2019 have been prepared in accordance with applicable law and United

Kingdom Accounting Standards (United Kingdom Accepted Accounting practice) and comply with the Statement ofRecommended practice (SORp) Accounting and Reporting by charities FRS102 effective from january 2015, The

finanaal statements are prepared under the historic cost convention.

Fund accounting

Designated funds are amounts which have been put aside out of unrestricted funds as follows:

investment I'und —to provide the income necessary to maintain the Trust's charitable activities, the Charity requires

a significant capital base and the Trustees have maintained an active investment policy in order to provide a degreeof stability and certainty in income levels. In the circumstances, the Trustees have created a designated Investment

Fund that represents the government stocks and other listed mvestments held In the Charity's investment portfolio.

General unrestricted funds —represent unrestdcted Income, which!s expendable at tne d&screoon or the irusrees rn

the furtherance of the objects of the Charity. Such funds may be held in order to finance both working capital and

capital investments.

Incoming resources

All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and

there is reasonable assurance of receipt. Where a claim for repayment of Ux income tax has or will be made, such

income is grossed up for the tax recoverable. Foreign tax repayments are recognised when received.

investment income is accounted for on an accruals basis. Dividends from quoted securities are accrued when thesecurity Is quoted ex-dlv.

Grants

Subsrriptions and grants made by the Trust are charged against income as soon as there is a legal or constructive

obligation committing the Trust to the expenditure.

Costs of generating funds

The costs of generating funds consist of investment management fees,

Charitable activities

costs of charitable activities Include grants made and an apportionment of overhead (based on ome costs incurred)

and support costs as shown in note 4.

Governance costs

Governance costs comprise all costs Involving the public accountability of the charity and its compliance with

regulation and aood practice. These costs include costs relating to statutory audit and legal fees.

Investments

Listed investments are stated at closing middle market price immediately prior to the end of the financial year. All

movements in value are shown in the Statement of Financial Activities.

Realised and unrealised gains and losses are shown separately in the appropriate section of the Statement ofFinancial Activities.

INVESTMENT INCOME

Dividends (net) and interest (gross)from quoted investments

interest on deposits (gross)

2019E

448,537145

448,682

2018E

453,69578

453 773


Notes to the financial statements for the year ended 5 April 2019

3. RAISING FUNDS

Investment advisor's fee

4. GRANTS

65,000 or over being 1.69iys of grants made:

2019e

52,956

2018t51 497

Action Against CancerBirmingham Community TrustBirmingham Opera CompanyBload SikesBower TrustBriistal Old Vic TrustChase Africa

C) Cadbury Charitable TrustDean & Chaper Glaucester Cathedral For D

East Anglias Children's HospicesEnglish Schools Orchestra

Ffestiniog lk Welsh Highland Railway TrustFircraft College

Kings Cogege SEF (Cambridge)Kings School, Bruton

Liberty

Macmillan Cancer Sunna*NEBT

Narfolk Churches TrustPelican Cancer FoundationPerformances Birmingham Limited

Peter Cadbury Charitable TrustRowheath Pavillion

Royal Society of ArtsRVI Cadbury Charitable Trust (Note)Severn Valley Railway TrustSistema England

Tewkesbury Sea CadetsThe National Star CollegeTreloar TrustUNICEF

University of Warwick

Virginia Reekie Chartiable TrustWentworth Woodhouse Preservation TrustWest Green House Opera

Worgan Trust

orothea Hoyland Choral

5,0005,000

10,00015,0005,000

15,0005,5008,000

25,00010,0005,000

10,0005,000

20,0005,500

10,00010,5005,000

10,0006,000

10,0008,000

30,00O

10,0008,000

10,00010,00010,0005,0005,000

18,50010,0008,000

25,00010,0005,000

373,00061r000 Or OVer being 0.21e%%d Of grantS made:

Alzheimers SocietyAmnesty InternationalArtiCle 25Avoncroft Arts SocietyAvoncroft Museum

Birmingham Royal BalletBlack Heart Foundation

Breast Cancer Care UK

Charge Wager Memorial TrustCobalt Health

Cornwall Historic Churches Trust

Carried forward

1,0002,5001,0003,5003,0003,5001,0001,0002,0003,000

1,00022,500

10



Not t th fl,'

I s+atoqo r f the near eqrled 4 dnrll 201 o

NOTES TO THE FXNANCXAL STATEMENTS

Tear ended 5 April 2019

4. GRANTS (Continued)

Brought forward

Carsely Fesdval Choir

CI'ISIS

Cystic Fibrosis

DSWF

English Heritage

Feedback Madagascar

Game SI WildliFe Conservation Trust Vyest of Scotland

Gloucestershire VI'ildlil'e Trust

Highland CrossLeamAchieveBecome

Marie Curie

MCD Foundation

MIillfield

Pro)ect Harar Ethiopia

Rainbow Trust

Raleigh International Trust

RNLI

Royal Horticultural SocietyRSPB

RSPCA

Safe Haven For Donkeys

Soldiers of Gloucestershire Museum

St Endelllon PCC

St Michaels Hospice

Stroke Association

Teenage Cancer Trust

The Actors Benevolent Fund

The British Deer SocietyThe Garden Museum

The Gloucestershire SocietyThe Grange Festival

The Haven

The Mary Hare Foundation

The Royal British Legion

Three Chairs Festival (Hereford)Warwickshire WildliFe TrustWinchester Excavations Committee

E999 and under

Costs of grant making (note 5)

22,500

1,0001,0001,0DO

1,0002,000

1,0001,5003,000

1,0001,000

1,000

4,406

1,5001,000

1,0001,000

2,2504,5002,5 DO

1,0001,000

2,0002,000

1,0001,0001,0001,0001,200

3,0001,0002,5001,000

1,0001,000

2,0003,0001,000

61,85611,450

466,3067,763

474,069

(Note) — These Charitable Trusts are considered ta be related parties by virtue of them having ane or more common

Trustees. The sum total of transactions with the related parties are as described above. There were no balances dueto or from the related parties at the year end.

All grants made in the year were to institutions. None were made ta individuals (2018; none).

11

THE GEORGE CADBURY TRUST (GEORGE, HENRY T AND LAURENCE J CADBURY SECTION) WHOSEWORKING NAME IS GEORGE CADBURY FUND 'B' ACCOUNT

Notes to the financial statements for the year ended 5 April 2019

5 SUPPORT COSTS

Basis ofapportionment Costs of Grant Making

2019 20186 E

Governance2019 2018

E E

Auditors' remuneration

Other expenses0/11/3 7,763 7,445

1,20023,288

1,26022,336

7,763 7,445 24,488 23,596

The cost of grant making and governance costs are apportioned based on time costs incurred.

The Charity has no employees (2018: none).

No Trustee, or person related or connected to them, has received any emoluments or expenses from the charity duringthe year or the preceding years.

6 INVESTMENTS

QUOTED INVESTMENTS

Market Value 6 April 2018Additions

Oisposals

Realised gains/(losses)Net unreallsed investment gains/(losses)

Market value 5 April 2019Uninvested cash

2019I

14,368,3651,895,343

(1,420,063)482,021

1,010,234

16,335,900109,187

2018E

14,409,8221,819,316

(2,160,326)(64,748)364,301

14,368,365383,809

Historical cost as at 5 April 2019

At 5 April 2019 the market value is divided:

16,445,087 14,752, 174

10,161,926 9,204, 625

UK Fixed interestOther Fixed interestOther Index linked

UK Specialist CreditAlternative investments - private equityAlternative investments - property fundsAlternative investments - otherGlobal

UK investment and unit trustsUK Equities

USA

Europe

Far East

Rest of the World

Other securities

Unlvested cash capital

449,314517,066157,257107,561867,140

1,013,583816,884

2,913,140960,265

4,383,8361,712,0591,207,260

656,351322,240251,944

16,335,900109,187

16,445,087

2.7%3.1%I 0%0.6%5.3%6.2%a

5.0%17.7'yo

5.8%26.7%10 4%7.3%4.09'o

2.0%1.5%

99.3%0.7%100'yo

There were no investments in the portfolio which exceeded 5'/a.

12



c:- --: i „66 ~ I f "she-u~, undedn 4 rfl shsq

7. CREDITORS 2019f

2018

Grant Accruals

Other accruals 14,77620,00013,599

14,776 33,599

8. STATEMENT OF MOVEMENT ON UNRESTRICTED FIINDS

Designated fund:Investment I'una

ea!ance6 April

20186

14,/52, I /4

IncomeF

Expendi'turn

Gains andLosses Transfers

8

EaianCe5 April

20196

16,445,087

Generalfund 447,886 448,6&2 940,742 (1,692,913) 144,397

Total unrestricted funds 15,200,060 448,682 940,742 16,589,484

The transfer from I:he General Fund to the Investment Fund is made to ref lea. ti&e realised and unrealisea losses

made in the year.

9. TAXATION

George Cadbury Fund '8' Account is a registered charity and, as such is exempt from tax on income and gains

falling within section 505 ICTABB or section 256 TCGA92 to the extent that they are applied to its charitable

objectives.

10. CONTROLLING PARTY

Throughout the current and previous period, the charity was not under the control of any single individual or entity.

13

the george cadbury trust (george, henry t and laurence j

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