The Colegrave Seabrook Foundation Report and Financial Statements Year Ended 31 December 2024 Charity Registration Number 1017289 The Colegrave Seabrook Foun(ktion Reference and admlnistrative infomiation Trustees J Colegrave (Chair of Trustees} A Ball A Dullnett NGOW T Kerley S Lowen N Wait R Seabrook N Stein N Higginson Principal Office 44 Holland Street. London, W8 4LX Bankers 8arclays Bank plc, Leicester, Leicestershire LE87 2BB Metro Bank plc. I Southampton Row, London. WCIB SHA Investrnent Managers Cazenove Czpital, Schroder & Co Limited, l London Wall Place. London EC2Y SAU The Colegrave Seabrook Foundatlon Report of the trustees for the year ended 31 December 2024. The trustees present their annual report and financial statements of the charity for the year ended 31" December 2024 and confirm that they comply with the charity's trust deed and the Charitie5 Act 2011. The accounts have been prepared in accordance with accounting policies set out in Note 2 to the accounts. The Trustees have adopted the provisions of Accounting and Reporting by tharities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Structure, Goverrhance, and Management The Foundation is a charity registered with the Charity Commission, number 1017289. and is constituted under a trust deed dated 14 January 1993, as amended by deeds dated l July 2002 and 10 November 2020. The Foundation was established in 1993 in recognition of David Colegrave, a prominent horticulturalist who throughout his life had taken a keen interest in supporting and promoting the development of young people. The trustees meet twi￿ a year to agree strategy and area5 of activity for the Foundation, including the awarding of scholarships and bursaries. investment review. risk management and perfomiance. Objective5 and Artlvlties The purpose of the Foundation is to support the development of the omamental horticultural industry in the United Kingdom by financing and supporting scholarships and bursaries for students interested in pursuing a career in this field. The Foundation furthers its charitable purposes for the public benefit through its scholarship granting policy which aims at.. financing scholarships to individuals studyinE or teaching hortiCu￿Ure in the UK: and providing bursaries for international nursery work placements and horticultural study tours. Public Benefit The Trustees confirm that they have complied bwth the duty in section 17151 of the 2011 Charities Act to have due reEard to guidance issued by the Charity Commission on public benefit when deciding on the charitys activities. Achievement and Performance 2024 has seen us celebrate 30 years of awardinB scholarships to students studying horticulture. As the only charity dedicated to supporting education in horticulture. over those years. we have had impact on the lives and careers of over 200 horticulturalists. The year ending 2024 Saw US support 19 individual 5cholar5hips amounting to nearly £30.000, the most we have awarded in our history, supporting students from a variety of backgrounds, need5 and opportunities from all four corners of the UK. During the year we have launched a series of podcast5 'Cukivate Your Future, to broaden people's knowledge and understanding of the career opportunities that there are in the horticultural industry. These are being professionally produced and promoted by us and one of the industrfs leading trade journals to potential future hortieulturalistS. Well received. a second series has been recorded. and a further series is planned for 2025, along with promorional material for garden centres to use, to extend the reath to the general public. Our fundraising from within the horticultural industry supports our activities along with our income from invegtments and it is the Trustees endeavour to push forward using contacts and knowledge to maximise the opportunities we can give to those students. future managers. of our industry. The Colegrave Seabrook Foundation The Trustees have met face to face on three occasions through the year. further 5UPPOrted by online, telephone and email messaging as required for the efficient and effective operation of our charity. Our limitations are tirne (working Trustee51 and the funds we can raise, and without our supporters and sponsor5 we would not be able to see the achievements we do. Our grateful thanks to all who 8ive their support to our activities. Financial Review The financial statements show income for the year of £57.743 {2023 - £39,787), consisting of £47,60812023 - £30.1371 of donations. £9.12612023 - £9,588) of investment income and £1,00912023 - £61} of bank interest. Scholarships and bursaries of £28,800 {2023 - £28,900} were awarded during the year. After accounting for administrative expenses and investment management costs of £19.40112023 - £12,712). the Foundation reported surplus of income over expenditure of £9,58212023 - deficit of £1.8251. There were realised gains on investments of £47 and unrealised gain5 on the investments of £20,826 {2023- £2,965). The Trustees consider the financial state of affairs to be satisfactory. Investment Policy and Perforrnance Investment activities are managed in line with the requirements of the Trustee Act 21XK). Our investment advisors {Schroder & Co Limited) are instructed to maximi5e total returns with the constraints of a medium to low-risk investment portfolio. Reserves Policy The charity's normal policy is to generate and maintain adequate funds and reserves for the efficient running of the charity on a day-to-day bas15. Risk Management The Trustees have considered the major risk5 to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Scholarshlp and Bursary MakinE Policy The Foundation has established its 5cholar5hip making policy to achieve its objects for the public benefit to support the development of the ornamental horticultural industry by finanang students pursuing a career in thi5 field. The trustees invite applications for scholarships and grants to all students completing horticulture related courses in the UK and Ireland. Students must be attending college. university. or similar educational establishment on a full or part time basis with a view to seeking permanent full-time employment in commercial or produttion ornamental horticulture. Trustees, responsibilities in relation to the finanaal statements The tru5tee5 are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charitie5 in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resoLJrces of the charity for that period. In preparing these financial statements, the trustees are required to= The Colegrave Seabrook Foundation Select suitable accounting policies and then apply them consistently. Observe the methods and principles of the Charities SORP. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting stsndards have been followed. subjert to any departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless tt is inappropriate to presume that the charity will continue in busine55. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertaln to ensure that the financial statements comply with the Ch3rities Act 1993. the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charitys website. Approved by the Trustees on 251 Lk | 25 and signed on their behalf by- R Seabrook Independent Examinerfs Report To the Trustees of The Colegrave Seabrook Foundation I report on the accounts of the charityfor the year ended 31 December 2024. which are set out on pages 7 to 9. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirement5 of the Charities Act 20111'the Arfl. I report in respect of my examination of the Trust's accounts carried out under settion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Diiertion5 given by the Charity Commi55ion under section 14515llbl of the Act. Independent examinerf5 Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respert= - accounting records were not kept in respect of the Trust a5 required by sertion 130 of the Act- or 2. the accounts do not accord wtth those records,. or 3. the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities {Accounts and Report51 Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered a5 part of an independent examination. I have no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ginette Getting FCA FFA PSG Bowdens LLP 100 High Street Evesham, Worcestershire WRII 4EU Dated= 19I4I£C£5 The Colegrave Seabrook Foundation Statement of Financial Artivities For the Year Ended 31 December 2024 2024 Total unrestricted funds 2023 Total unrestricted funds INCOME Donations and legacies Investments Interest Total 47,608 9.126 1.009 57,743 30,137 9,588 61 39,787 EXPENDITURE Investment managemerit costs Charstable activities Administrative expenses Total 655 28.9CKJ 12,057 41,612 28,800 18,721 48.201 Net inc0mel{expendltu￿I 9542 11,8251 Net galnsllloswl ofi investfflent assets Listed invesrments Realised U nrealised 47 20,826 102 2,965 Net movement in funds 30,415 1,242 Total funds brought forwanl 251.183 249,942 Total funds canied forward 281,599 251,183 The Colegrave Seabrook Found*.ion Balance Sheet A5 at 31 De￿mber 2024 2024 2023 Total unrestricted funds Total unrÈstrKted funds Fixed assets I nvestments Current asset5 Cash at bank and in hand 249,774 220,454 32.245 31,149 Creditor5,' amounts falling due wr¢hin one year 420 420 NE[ ASSETS 281.599 251,183 Unrestricted fund5; I ncome fund TOTAL FUNDS 281.599 281.599 251,183 251,183 The Colegrave Se3brook Foundation Note5 to the Accounts Basis of Preparation The Colegrave Seabrook Foundation meets the definition of a public benefit er¢tity under FRS 102. The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applitable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charitie5 Act 2011. The financial statements are prepared on a going concern basis under the historical cost convention except for Ilsted investments which are measured at fair value. unless otherwise stated in the relevant accounting policy note. The financial statements are presented in sterlin& which is the fvnctional currenLry of the charity rounded to the nearest pound. Accountlng Policies All income is credited to funds of the Trust in the year in which it is receivable. All expenditure is recognised a5 soon as there is a legal or constructive obli£ation committing the charity to pay out resources and are directly attiibuted to one of the functional categories of resources expended. The Trust is not registered for value added tax. and so all such tax paid 15 charged to the statement of financial activities, a5 part of the expenditure to which it relates. Unrestritted funds comprise accumulated surpluse5 on the general funds and are available to use at the discretion of the Trustees in furtherance of the Ben•r31 charitablo objertives. Listed investments are stated at market value. increase/ldecreasel on revaluations are transferred tollfroml the Statement of Financial Attivities. Trustees, remuneration, benefits and expenses No trustees received any remuneration or other benefits or expenses for the year ended 31" December 2024 or 31" December 2023. Control The charity is under control of its trustees. Ltsted Inveslments B*)ok Mthet Value @ ValuE @ 3J5t 31st December December Addit￿5 Di5POSa 2023 2023 Cost Ilroceeds Book Market Value @ Value @ 31st 315t Profiv December December 2024 2024 193,229 Charity MultpAsset Fund 193.S03 219.928 322 47 249,605 193.503 219.928 322 47 193,129 249,605 Portfclio cash 526 526 169 169 249,774 194J129 210A54 193,398