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2025-03-31-accounts

Charity registration number 1020294

TINSLEY CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

TINSLEY CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees H C Tinsley
R C Tinsley
J Hogarth
S Bartram
Charity number 1020294
Principal address 14 St Mary's Street
Stamford
Lincolnshire
PE9 2DF
Auditor Price Bailey LLP
36 Tyndall Court
Commerce Road
Lynchwood
Peterborough
PE2 6LR
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Bates Wells
10 Queen Street Place
London
EC4R 1BE

TINSLEY CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 17

TINSLEY CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)".

Objectives and activities

The purpose of the charity is to apply its capital and income to charities and for charitable purposes at the absolute discretion of the trustees.

Public benefit statement

We are conscious that the guidelines issued by the Charity Commission emphasise the requirement that all charities of every kind must be able to demonstrate that their work is of direct benefit to the public. We believe that the activities we fund through our grants, covering a wide range of issues, are demonstrably of public benefit and ensure through our granting and further monitoring and evaluation that this is the case.

The principle objective of the charity is to support many issues and to achieve public benefit through the distribution of grants and social investments for specific charitable purposes across the globe. These grants, focusing on small organisations as well as larger established ones, aim to deliver a real and lasting positive impact. In determining its grant making strategies and in the administration of the charity generally, the trustees have paid due regard to the guidance published on public benefit and will continue to deliver grants as effectively and professionally as possible.

Grant-making policy

While the charity welcomes applications from eligible potential grantees, the trustees seek out organisations that will effectively fulfil our objectives. Individual trustees have a close working relationship with charities in receipt of our larger grants.

The charity aims to spend at least 5% of its net assets on grants each year.

Achievements and performance

During the year, the charity has continued to support a number of organisations through its grant making activities. The charity made donations and grants of £565,000 (2024: £471,377). Details of the recipients and the sectors supported are listed in the notes to the financial statements.

Income received during the year decreased to £467,339 (2024: £635,300). There was an decrease in donations received during the year while investment income remained broadly similar, including rental income received on the charity’s investment property.

Total unrestricted funds at the year end were £6,597,458 (2024: £6,958,425). The trustees intend to continue to distribute the charity’s funds in future periods in furtherance of it’s objectives.

Financial review

Our assets are in an account with CAF Bank and in investment portfolios with Ravenscroft, HSBC Private Bank and Rathbone Greenbank.

As a result of grants made during the year reducing and a decline in investment values, our net assets have decreased to £6,597,458.

The general fund is unrestricted and represents the total reserves of the charity, being £6,597,458. The level of this fund will vary depending on donations received and the level of expenditure. The charity holds this level of reserves in order to generate investments returns to provide funding for its charitable activities. It should be noted that investments have recovered since the year end as a result of improved market conditions.

The charity does not carry out significant fundraising activities.

TINSLEY CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for the future

During 2025/26 we have budgeted to make grants totalling just under £600,000. Grants for £25,000 or over are planned for: Network for Africa, Waging Peace, UK Democracy Fund, Oxford's Worcester College, Reprieve, Centre for Health & the Public Interest, the Greenpeace Environmental Trust and IPPR.

Structure, governance and management

The charity was founded by Henry Tinsley in 1993 and its governing document is a Trust Deed dated 15 April 1993.

The trustees who served during the year and up to the date of signature of the financial statements were: H C Tinsley

R C Tinsley J Hogarth S Bartram

New trustees are appointed as required by the existing trustees and receive a comprehensive induction on the activities of the charity.

As a small grant-giving organisation, the trustees manage the charity themselves, with part time administrative and financial support. The trustees aim to meet four times a year, but day to day decisions are made on the basis of e- mail exchanges and telephone conversations, once the annual budget has been agreed.

The trustees have considered the major risks to which the charity is exposed and monitor them regularly.

The trustees' report was approved by the Board of Trustees.

Henry Tinsley (Jan 28, 2026, 1:25pm) .............................. H C Tinsley

Trustee

Date: .............................................28 Jan 2026

TINSLEY CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities 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 resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

TINSLEY CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST

Opinion

We have audited the financial statements of Tinsley Charitable Trust (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our 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 the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

TINSLEY CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material 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 a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material 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 with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Comparative information in the financial statements is derived from the company's prior period financial statements which were not audited.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: 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 (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

TINSLEY CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the 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 and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Price Bailey LLP

.........................

Chartered Accountants Statutory Auditor

36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR

Price Bailey LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

TINSLEY CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 367,392 543,664
Investments 4 99,947 91,636
Total income 467,339 635,300
Expenditure on:
Raising funds 5 35,872 32,525
Charitable activities 6 571,214 474,818
Total resources expended 607,086 507,343
Net gains/(losses) on investments 11 (221,220) 454,622
Net movement in funds (360,967) 582,579
Fund balances at 1 April 2024 6,958,425 6,375,846
Fund balances at 31 March 2025 6,597,458 6,958,425

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

TINSLEY CHARITABLE TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investment property 13 225,000 225,000
Investments 14 6,380,913 6,517,409
6,605,913 6,742,409
Current assets
Cash at bank and in hand 97,545 244,328
Creditors: amounts falling due within
one year 16 (106,000) (28,312)
Net current (liabilities)/assets (8,455) 216,016
Total assets less current liabilities 6,597,458 6,958,425
Income funds
Unrestricted funds 6,597,458 6,958,425
6,597,458 6,958,425

The financial statements were approved by the Trustees on .........................28 Jan 2026

Henry Tinsley (Jan 28, 2026, 1:25pm)

..............................

H C Tinsley Trustee

TINSLEY CHARITABLE TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Notes
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
18
(126,134)
Investing activities
Purchase of investments
(299,892)
(543,664)
Proceeds from disposal of investments
270,000
478,136
Investment income received
9,243
7,379
Net cash used in investing activities
(20,649)
Net decrease in cash and cash equivalents
(146,783)
Cash and cash equivalents at beginning of year
244,328
Cash and cash equivalents at end of year
97,545		 £
45,850
(58,149)
(12,299)
256,627
244,328

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Tinsley Charitable Trust is a charity constituted by a trust deed dated 15 April 1993.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Donations of assets are recognised at fair value.

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis.

Grants payable are recognised when the criteria for a constructive obligation are met, payment is probable, it can be measured reliably, and there are no conditions attaching to its payment that limit recognition.

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.6 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held with banks.

Basic financial assets and liabilities

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activitities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 367,392 543,664

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Income from investments

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Rental income 7,140 7,140
Income from listed investments 92,566 84,257
Interest receivable 241 239
99,947 91,636
Raising funds
Unrestricted Total
funds
2025 2024
£ £
Investment management costs 35,872 32,525
35,872 32,525
Charitable activities
Other costs Donations Total Total
to charitable 2025 2024
causes
£ £ £ £
Donations to charitable causes (see note 7) - 565,000 565,000 471,377
Share of governance costs (see note 8) 6,214 - 6,214 3,441
6,214 565,000 571,214 474,818

5 Raising funds

6 Charitable activities

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Donations to charitable causes

In the interest of transparency, the charity discloses individual gifts of £10,000 or more (all are to institutions):

In the interest of transparency, the charity discloses individual gifts of £10,000 or more (all are to
institutions):
Cambridge Carbon Footprint
Centre for Health & The Public Interest
Free Yezidi Foundation (Netherlands)
Full Fact
Greenpeace Environmental Trust
International Childrens' Awareness (Canada)
Kensington & Chelsea Foundation
Lalibela Trust
Network for Africa
Peace Brigades International UK
Public Interest News Foundation
Reprieve
Joseph Rowntree Refrom Trust
Waging Peace
Other
Donation analysis by sector:
Environmental
Education, social welfare and human rights
Other		 2025
£
10,000
25,000
12,500
20,000
25,000
20,000
10,000
10,000
250,000
25,000
10,000
25,000
20,000
50,000
52,500
565,000
35,000
477,500
52,500
565,000

During the year the Charitable Trust donated £25,000 to Worcester College, Oxford. The total donation of £85,000 was recognised in 2021/22.

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs

Support costs
Governance
costs
£
Audit and accountancy fees
6,090
Bank charges
124
6,214
Analysed between
Charitable activities
6,214		 2025
£
6,090
124
6,214
6,214		 2024
£
3,342
99
3,441
3,441

Governance costs includes payments to the auditors of £6,090 (2024 - £3,342) for audit fees.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

11 Net gains/(losses) on investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Revaluation of investments (395,146) 370,965
Gain/(loss) on sale of investments 173,926 33,657
Revaluation of investment properties - 50,000
(221,220) 454,622

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

13 Investment property

Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025 225,000

Investment property comprises residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by R. Longstaff & Co LLP, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. As at 31 March 2025 the trustees have re-assessed the market value and are of the opinion it has not significantly changed.

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Fixed asset investments

Cost or valuation
At 1 April 2024
Additions
Valuation changes
Investment management fees
Dividends and interest received
Disposals
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
Investments at fair value comprise:
Cash awaiting investment
Listed investments		 Listed
investments
£
6,517,409
299,892
(221,221)
(35,872)
90,705
(270,000)
6,380,913
6,380,913
6,517,409
2025
2024
£
£
398,646
77,651
5,982,267
6,439,758
6,380,913
6,517,409		 Listed
investments
£
6,517,409
299,892
(221,221)
(35,872)
90,705
(270,000)
6,380,913
6,380,913
6,517,409
2025
2024
£
£
398,646
77,651
5,982,267
6,439,758
6,380,913
6,517,409
6,380,913
6,380,913
6,517,409
2024
£
77,651
6,439,758
6,517,409

All the above investments (other than cash) are quoted on a recognised UK Stock Exchange or are valued by reference to investments listed on a recognised Stock Exchange.

The historical cost of the fixed asset investments as at the year end is £5,705,980 (2024: £5,747,028).

15 Financial instruments

Financial instruments
2025 2024
£ £
Financial instruments at fair value through profit or loss
Fixed asset investments 6,380,913 6,517,409

TINSLEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Grants payable		 2025
£
6,000
-
6,000		 2024
£
3,312
25,000
28,312

17 Related party transactions

During the year the charity received a donation of £50,000 (2024: £nil) and received rent of £7,140 (2024: £7,140) from H C C Tinsley and Son Ltd. H C Tinsley and R C Tinsley are directors of H C C Tinsley and Son Ltd.

During the year H C Tinsley donated investments with a market value of £299,892 (2024: £543,664) to the charity.

During the year the charity made donations of £50,000 (2024: £25,000) to Waging Peace, a registered charity. R C Tinsley is a trustee of Waging Peace.

During the year the charity made donations of £250,000 (2024: £85,000) to Network for Africa, a registered charity. Of these, £100,000 was paid after 31 March 2025. R C Tinsley is a trustee of Network for Africa.

During the year the charity made donations of £20,000 (2024: £20,000) to the Joseph Rowntree Reform Trust, a company limited by guarantee. H C Tinsley is on the Advisory Board to the Joseph Rowntree Reform Trust’s UK Democracy Fund.

18 Cash generated from operations
Cash generated from operations 2025 2024
£ £
(Deficit)/surpus for the year (360,967) 582,579
Adjustments for:
Investment income recognised in statement of financial activities (99,947) (91,636)
Gain on disposal of investments (173,926) (33,657)
Investment managers' fees paid via portfolio 35,872 34,367
Fair value gains and losses on investments 395,146 (420,965)
Movements in working capital:
Increase/(decrease) in creditors 77,688 (24,838)
Cash (absorbed by)/generated from operations (126,134) 45,850

Issuer

Price Bailey LLP

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Audit history log

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Action

Wed, 28th Jan 2026 12:46:50 GMT Wed, 28th Jan 2026 12:46:51 GMT

Wed, 28th Jan 2026 12:46:51 GMT

Wed, 28th Jan 2026 12:49:25 GMT

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Wed, 28th Jan 2026 13:25:51 GMT

Envelope generated by Sarah Hughes (5.148.19.153) Document generated with fingerprint 886c2bc20b96eac999c368ace656277f (5.148.19.153) Document generated with fingerprint 5daca7d9f9e70a8c474c55d9cf7d19c4 (5.148.19.153) Sent the envelope to Henry Tinsley (henryctinsley@gmail.com) for signing (5.148.19.153) Document emailed to henryctinsley@gmail.com Henry Tinsley viewed the envelope (154.49.97.167) Henry Tinsley signed the envelope (154.49.97.167) This envelope has been signed by all parties (154.49.97.167) Signed document confirmation emailed to henryctinsley@gmail.com (154.49.97.167) Signed document confirmation emails have been sent to all parties. Document URL:

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