REGISTERED NUMBER: |
PRIMROSE HILL TRUST FUND LIMITED |
Audited Financial Statements for the Year Ended 5 April 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 6 |
NET ASSETS |
RESERVES |
Endowment Fund | 7 |
Quota Accounts | 7 |
Fair value reserve | 7 |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
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 |
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 |
Revaluations |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
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 |
Provided during year |
Balance at 5 April 2024 |
7. | RESERVES |
Income |
and | Fair |
expenditure | Endowment | Quota | value |
account | Fund | Accounts | reserve | Totals |
£ | £ | £ | £ | £ |
At 6 April 2023 | 4,982,150 |
Surplus for the year |
Increase in market value | ( |
) |
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 | 5,330,029 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
PRIMROSE HILL TRUST FUND LIMITED (REGISTERED NUMBER: 00509574) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
9. | QUOTA ACCOUNTS |
Balance | Net income | Net transfer | Grants | Balance |
as at | available for | from | made | as at |
6 April 2023 | grants | Endowment | 5 April 2024 |
fund |
£ | £ | £ | £ | £ |
G W Cadbury Section | 28,919 | 12,207 | - | (2,300 | ) | 38,826 |
J C Cadbury Section | 164,080 | 36,264 | - | (8,443 | ) | 191,901 |
M Breeze Section | 26,470 | 34,925 | - | (35,000 | ) | 26,395 |
219,469 | 83,396 | - | (45,743 | ) | 257,122 |
The grants made include £26,000 made to Charities under Gift Aid |