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REGISTERED NUMBER: 00509574 (England and Wales)















PRIMROSE HILL TRUST FUND LIMITED

Audited Financial Statements for the Year Ended 5 April 2024






PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PRIMROSE HILL TRUST FUND LIMITED

Company Information
for the Year Ended 5 April 2024







DIRECTORS: Mr P Boal
Mr J Breeze
Mr G Breeze
Mr T H Cadbury
Mrs C H T Coulson
Mr N B Woodroffe





REGISTERED OFFICE: c/o BDO LLP Two Snowhill
7th Floor
Birmingham
B4 6GA





REGISTERED NUMBER: 00509574 (England and Wales)





AUDITORS: Michael Dufty Partnership Limited
Statutory Auditors
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)

Abridged Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 325,000 207,406
Investments 5 4,919,391 4,650,164
5,244,391 4,857,570

CURRENT ASSETS
Debtors 3,682 6,184
Cash at bank 477,732 422,474
481,414 428,658
CREDITORS
Amounts falling due within one year 59,341 20,279
NET CURRENT ASSETS 422,073 408,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,666,464

5,265,949

PROVISIONS FOR LIABILITIES 6 336,435 283,799
NET ASSETS 5,330,029 4,982,150

RESERVES
Endowment Fund 7 4,856,851 4,634,820
Quota Accounts 7 257,122 219,469
Fair value reserve 7 216,056 127,861
5,330,029 4,982,150

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 5 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by:




Mrs C H T Coulson - Director



Mr J Breeze - Director


PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Primrose Hill Trust Fund Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Income
Investment income is accounted for on an accruals basis. Dividends from quoted securities are accrued when the security is quoted ex-div.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments
Listed investments are included at fair value.

Grants paid
Grants paid during the year have been charged against income. There were no irrevocable grants committed at the year end which had not been paid.

Apart from grants, accruals have been reflected for other items of expenditure shown in the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 6 April 2023 207,406
Revaluations 117,594
At 5 April 2024 325,000
NET BOOK VALUE
At 5 April 2024 325,000
At 5 April 2023 207,406

Cost or valuation at 5 April 2024 is represented by:

Totals
£   
Valuation in 2016 101,240
Valuation in 2017 7,500
Valuation in 2018 4,725
Valuation in 2019 4,867
Valuation in 2020 5,000
Valuation in 2021 5,176
Valuation in 2022 7,091
Valuation in 2023 23,045
Valuation in 2024 117,594
Cost 48,762
325,000

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 48,762 48,762

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 6 April 2023 4,650,164
Additions 784,315
Disposals (579,292 )
Revaluations 64,204
At 5 April 2024 4,919,391
NET BOOK VALUE
At 5 April 2024 4,919,391
At 5 April 2023 4,650,164

PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 5 April 2024 is represented by:
Totals
£   
Valuation in 2024 1,275,628
Cost 3,643,763
4,919,391

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 336,435 283,799

Deferred
tax
£   
Balance at 6 April 2023 283,799
Provided during year 52,636
Balance at 5 April 2024 336,435

7. RESERVES
Income
and Fair
expenditure Endowment Quota value
account Fund Accounts reserve Totals
£    £    £    £    £   

At 6 April 2023 - 4,634,820 219,469 127,861 4,982,150
Surplus for the year 347,879 347,879
Increase in market value (406,503 ) 288,909 - 117,594 -
Net Income Available for
Grants

(83,396

)

-

83,396

-

-
Restatement to Fair Value 23,235 (23,235 ) - - -
Grants Made 45,743 - (45,743 ) - -
CGT Payable 73,042 (43,643 ) - (29,399 ) -
At 5 April 2024 - 4,856,851 257,122 216,056 5,330,029

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert MacLaren ACA FCCA (Senior Statutory Auditor)
for and on behalf of Michael Dufty Partnership Limited

PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

9. QUOTA ACCOUNTS

BalanceNet incomeNet transferGrantsBalance
as atavailable forfrommadeas at
6 April 2023grantsEndowment5 April 2024
fund
£   £   £   £   £   
G W Cadbury Section28,91912,207-(2,300)38,826
J C Cadbury Section164,08036,264-(8,443)191,901
M Breeze Section26,47034,925-(35,000)26,395
219,46983,396-(45,743)257,122

The grants made include £26,000 made to Charities under Gift Aid