2024-12-02-accounts

WOODROFFE BE￿ON FOUNDATION (INCORPORATING THE S WOLFE MEMORIALFUND ANDTHE BELTHLE FUND) REGISTERED CHARITY NUMBER 1075272 ANNUAL REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 2nd DECEMBER 2024

WOODROFFE BENTON FOUNDATION TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMETrirs FOR THE YEAR ENDED 2nd DECEMBER 2024 The Trustees present their Annual Report and Financial Statements of the Charity for the year ended 2nd December 2024. The Financial Statements have been prepared in accordan￿ with the accounting policies Set out in note I to the Accounts and comply with the Charl￿$ Scheme, the Charitie5 Art 2011 and the Statement of Recommended Practice: Accounting and Reporting by Chorities applicable to charities preparing their Accounts in accordance with Financial Reporting Standard applicable to the UK and Republic of Ireland IFRS 102). The Report takes account of the requirementfor Trustees to report annually on Public Benefit and the Trustees have had regard to the Charity Commission's guidan￿ on Public Benefit. LEGAL AND ADMINISTRATIVE INFORMATION HISTORY AND cONsTIT￿lON The Foundation was set up by Trust Deed in November 1988 by the late Alfred Woodroffe Benton. It later amalgamated with the S Wolfe Memorial Fund and is now governed by a Scheme sealed by the Charity Commissioners for England and Wales on 6th April 1999. It is a Registered Charity, number 1075272. TRUSTEES The following served as Trustees from the commencement of the year up to the date of approval of the accounts in. where relevant, the stated capacity- Mr E J White (Chairman), Mr J J Hope, Mis5 J Hope. Mr R A Page, Mr P Phillips, Mrs C Rimington. Mrs J Wesley, and Mr W White. WEBSITE www.woodroffebenton.org.uk OFFICERS AND ADDRESS FOR CORRESPONDENCE Mrs J Noles-secretary Mrs H Bailey- Treasurer PO Box 309, Cirencester. GL7 9HA BANKERS Barclays Bank PLC. Leicester, LE87 28B AUDITORS Bishop Fleming LLP IOTemple Back. Bristol BSI 6FL INVESTMENT MANAGERS RBC Brewin Dolphin 12 Smithfield Street. London ECIA 9BD LEGAL ADVISORS Clarkson. Wright and Jakes Valiant House. 12 Knoll Rise, Orpington, BR6 OPG

OBJECTS OF THE FOUNDATION The Foundation's objects as set out in the Scheme are the advancement of charitable purposes as the Trustees in their discretion think fit, by the provision of grants for such purposes and the provision of grants to benefit any charity, and in particular: The relief of persons resident in the United Kingdom who are in need. hardship or distress including those who are in need. hardship or distress as a result of local or national disaster or by reason of their social or economic circumstances. without any regard to any religious denomination. The provision and maintenance of a nursing home or sheltered accommodation for the benefit of persons who are in need, hardship or distress and who by reason of old age or infirmity are unable to support themselves. The promotion of education, and in particular the provision of financial assistance towards the maintenance and development of Queen Elizabeth's Grammar School. Ashbourne and other schools in Derbyshire, and the furtherance of the education of pupils attending Queen Elizabeth's Grammar School, Ashbourne and other schools in Derbyshire by the award of scholarships, bursaries or prizes. The conservation, preservation. protertion and improvement of natural resources and amenity land in the United Kingdom for the public benefit and the encouragement of the provision of access to such land by members of the general public,. and The promotion of such other charitable purposes as the Trustees may in their absolute discretion think fit. PUBLIC BENEFIT The Trustees consider that all the Foundation's activities are for the public beneftt and thus fulfil its obligations as a registered charity in this respect. STRUCTURE. GOVERNANCE AND MANAGEMENT The Board of Trustees. which can consist of between 5 and 8 individuals. administers the Foundation. Trustees are appointed by the Board of Trustees and serve for four years after which they may be reappointed for further four-year terms. The chairman is appointed by the Trustees and serves for a one- year term. New Trustees are usually found from the contacts and networks of existing Trustees. When recruiting new Trustees. the Board looks for individuals with skills and experience which are of value to the Foundation and which are not represented by existing Trustees. Potential Trustees are interviewed by the Board and are provided with a pack of information including recent accounts and a copy of the Scheme. When a new Trustee joins the Board he or She is provided with further infonnation regarding finances, governance and charitable objectives including minutes of Trustees. meetings for the previous year. The Trustees are experienced individuals with an understanding of what is involved. Where appropriate the Foundation supports the training of Trustees including. for example. attendance at seminars organized by the Association of Charitable Foundations ofwhich the Foundation is a member. The Trustees met four times during the year to consider. inter alia. recommendations for, and make final decisions on, the awarding of grants. The day-to-day administration of grants and the processing of applications prior to consideration by the Trustees is delegated to the Secretary and Treasurer. RISK MANAGEMENT The Trustees have considered the major risks to whith the charity is exposed and have regularly reviewed those risks and where appropriate established procedures to manage them. They have specifscally agreed that no emergency steps are needed in the short term to cope with any finanaal crisis, having regard to the long-established policy of paying grants from the return of the portfolio of investments during the previous year and held on deposit at the Bank.

The records maintained by the Treasurer and Secretary. which are vital for the effiaent operation of the charity, are regularly archived and stored in a safe location. either externally or in the cloud. Aformal reminder is given toall Trustees. the Treasurerand Secretary to change passwordsannually in order to mitigate associated financial and operational risks. GRANT-MAKING POLICIES. PRIORITIES AND APPUCATIONS Grants are normally made On￿ to registered or exempt charities within the United Kingdom and not to individuals. The Foundation funds charities in a broad range of areas. but generally not overseas projects or branches of national organisations. The Trustees are particularly interested in providing unrestricted funding. as well as support for specific projects, and in giving support to smaller charities where modest grants are likely to be of proportionately greater benefit. The Foundation also has website www.woodroffebenton.or . uk) which provides full background to its grant making policies and priorities. Applications to the Small Grants Programme have to be submitted using a form which can be accessed from the website; the Trustees then manage evaluation for the award of grants online. REVIEW OF AcfiviTIES The Trustees met four times duringthe yearand agreed 134grants (2023: 1701 to a total value of £670.250 12023: £383,250) and speafically by- Providing ongoing support to a number of charities in the form of a commitment to pay a substantial annual grant, in some cases for a fixed period. plus occasional additional amounts when the need arises. During the year under review 29 grants were paid to 21 charities and organisations with charitable status totalling £340,75012023: 33 grants to 22 charities totalling £213,(KQ). A Small Grants Programme processing online applications from charities. 301 applications were received12023: 392). 85 grants were made with a total value of £101,50012023= 126 grants totalling £170.2501. Two rounds of payments were made in 2024 as opposed to three in 2023. Grants awarded at the discretion of indivtdual Trustees. retired Trustees for a period of five years subsequent to their retirement, and the Foundation Officers, each of whom is authorised to make grants up to a total of £2,(XL) in each financial year. to charities of his or her choice. 10 grants amounting to £16,0(XJ were made by 6 trustees and the 2 Foundation Officers and also 2 grants of £l,(J)O for the widow of a deceased trustee. giving a total of £18.(MXI {2023: 16 grants totalling £24,OCK)I. RECONCILIATION OF GRAFifs PAID AS ABOVE W￿H FIGURES SHOWN IN THE ACCOUNTS 2024 2023 Substantial ongoing support Small Grants Programme Trustees. Grants 340,750 101,5(XJ 18.IXKI 213,LXK) 170,250 24,ryx) Total Grants Paid Le55- Awarded in previous year(s) 460.250 15,0(K) 407.250 39,0(X) 445.250 225.( 368.250 15,OC(I Add: Allocated for payment in future years Grants as showrs in the accounts 670,250 383,250

SIGNIFICA￿ EVENrs The Trustees during the year: Held a strategy day in September 2024 to review the Foundation's aims and way of working Reviewed and agreed the Statement of Trustees, role. respon5ibilitie5 and Code of Conduct Reviewed and agreed the Investment Poliry of total return for the Unrestricted portfolio Reviewed and agreed the Financial Management Policy Reviewed and agreed the Reserves Pdicv • Reviewed and agreed the Grant-making and Funding Policrf Reviewed and agreed the Disaster Recovery Policy Reviewed and agreed the Trustee Eligibility Poli Reviewed and agreed the Co-operative Working Policy Started the process to record the Foundation's oral history and collate its archival material Started regular Trustee training sessions at each meeting PERFORMANCE MONITORING AND REVIEW For all charities to which regular long-terni support is provided, a Trustee is appointed to keep in touch with and monitor that charity and regularly report to the Board as to its performance and requirements. FINANCIAL REVIEW INCOMING RESOURCES The Foundation is dependent on the perfomiance of its investments and property. The income from these amounted to £206,64412023: £208,888). However there was additional income of £50.719 from the Doris Bayless Will Trust (along with the £167.320 recorded in 20231.- and also in November 2024 £1,719,962 was received from the Voluntary Members Liquidation of lfield Park. See note 10 for more information. Total income for the yearwas £1.977.325. Grants awarded by the Trustees and paid, or in the case of long-term support grants confirmed to the recipients, totalled £670,25012023: £383,250). After allowing for the cost of generating funds of £43,318, grant related support costs of £44.234 and governance costs of £10.760 lin 2023 these three items totalled £85.1191. there was a surplus of £1.208,76312023.- £92.161 deficit). INVESTMENT POUCY The Foundation seeks to produce the best financial return within an acceptable level of risk. The current investmentobjective isto generate a return ofCPI plus4% perannum overthe longterm. This should enable the Foundation to maintain the real value of the assets. while funding annual grant making expenditure. Grant making capabilities are expected to grow at or above inflation levels. At their meeting in July 2020, the Trustees agreed thatthe Unrestricted Fund would be managed on a total return basis of Consurner Price Index plus 3.￿ after expenses, which would retain the real value of the assets. with no target income requirement. The Pem)anent Endowment Fund would be managed to have a minimum income yield of above 3.0￿￿ .The Foundation has entrusted RBC Brewin Dolphin to manage the assets on a discretionary basis and report quarterly to the Trustees. Investment Committee. RBC Brewin Dolphin attend one Trustees, meeting a year to discuss future strategy and asset allocation. RESERVES POUCY The operations of the Foundation are such that there are few fixed overheads or long-term commitments for which significant reserves levels are required. The Foundation consider it appropriate to maintain available cash balances of £5(Kl,Ll)O. This level will allow the Foundation to cover its fixed costs and cover ongoing commitmentsfor a period of twelve months. At 2 December 2024 the Foundation had cash at bank

and in hand of £540.381 plus the £1,719,962 from lfield Park liquidation12023= £508.6541. The Investment Committee is responsiblefor reviewing the reserve policyon an ongoingbas15 throughout thefinancial year. FUTURE PLANS The Foundation aimsto continue to offer long term regular supportto many of itsexistinggrantees, to seek to identify other charities which f ulfil the selection criteria and to continue to award Small grants to those making unsolicited Applications. The Trustees are aware of the severe impact the current cost of living crisis, has had on many charitable organisations and the Foundation is monitoring the impact on its existing grantees. The Foundation has just received the substantial donation from the proceeds of the members voluntary liquidation of lfield Park and the Goodwin Benton Working Group are looking at the way forward to use these funds under 'the provision of care for the elderlrf. TRUSTEES RESPONSIBiufiES IN RELATION TO THE FINANCIAL STATEMENTS The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each finan(ial year which give a true and fair view of the Foundation's financial activities in the year and of its finanaal position at its year-end. In preparing financial statements giving a true and fair view, the Trustees are required to: select suitable accounting policies and apply them consistently- observe the methods and principles in the applicable Charities SORP," make judgments and estimates that are reasonable and prudent: state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disdosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are also responsible for keeping proper accounting records which disdose with reasonable accuracy at any time the financial position of the Foundation and which enable them to ensure that the financial statements comply with the Charities Art 2011. the Charity (Accounts and Report51 Regulations 2(Y)8 and the provisions of the scheme. They are also responsible for safeguarding the Foundation's a5setS and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Foundation and financial information included on the Foundation's website. APPROVAL This report was approved by the Trustees on ) S rJ nTr,12025 and signed on their behalf. EJ White CHAIR

WOODROFFE BENTON FOUNDATION REGISTERED CHARITY NUMBER 1075272 REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES Opinion We have audited the financral statements of Woodroffe Benton Foundation (the 'charity'l forthe year ended 2nd December 2024 which comprise the Statement of Financial Activities. the Balance sheet. the Statement of cash flows and the related notes. including a summary of 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 ￿ngdorn Generally Accepted Accounting Practice}. The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2￿5 which is referred to in the extant regulations but has been withdrawn. This has been done in orderfor the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2019. In our opinion the financial statementS= give a true and fair view of the state of the tharity's affairs as at 2nd December 2024 of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Art 201L Basi5 for opinion We conducted our audit in accordance with Intemational Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, 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 United Kingdom, including the Financial Reporting Council'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. ConclusTon5 relatingto going concern In auditing the financial statements, we have concluded that the Trustees, use of the going con￿rn 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 finanoal 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 Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors, report thereon. Our opinion on the financial statements does not cover the other information and we do not express anyform 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 or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistenaes or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements ora material misstatement ofthe other information. If. based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information. we are required to report that facL We have nothing to report in this regard. Matters on which we are required to report by exteption In light of our knowledge and understandingof the charity and its environment obtained in the course of the audit, we have not identified any material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2CI)8 requires u5 to report to you if, in our opinion- the charity has not kept adequate and sufficient accounting records: or returns adequate for an audit have not been received from branches not visited by us: or the charivs financial statements are not in agreement with the accounting records and returns; or certain disclosure of trustees remuneration specified in law are not made.- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustee5' responsibilities ststement, the Trustee5 are responsible for the preparation of the financial statements which give a true and fair view. and for such internal control as the Trusteesdetermine is necessaryto enablethe preparation of finanaal 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 liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditors. responsibtlities for the audit of the financial ststements We have been appointed as auditor under section 144 of the Charities Art 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. whetherdue tofraud orerror. and to issue an Auditors, report that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with 15As IUKI will always detect a material misstatement when Ét 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. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respert of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We have considered the nature of the sector. control environment and finanoal performance- We have considered the results of enquiries with management and Trustees in relation to their own identification and assessment of the risk of irregularities within the entity.. and We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation. As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with particular risk in relation to year end cut off. In common with all audits under ISAS IUKI we are also required

to perform specific procedures to respond to the risk of management override. We have also obtained understanding of the legal and regulatoryframeworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the detemiination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities SORP. FRS 102 and UK tax legislation. In additions, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity's ability to operate or avoid a material penalty. Our procedures to respond to risks identified included the following: Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.. Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud,. Reviewing Trustee meeting minutes,- Enquiring of management in relation to artual and potential claims or litigations. Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around year end cut off; and In addressing the risk of fraud through management override of controls. testing the appropriateness of journal entries and other adjustments- assessing whether the judgments made in accounting estimates are indicative of potential bias." and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business. We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities forthe audit of the financial statements is located on the Financial Reporting Council's website at- www.frcorg.uklauditorsrespon5ibilities. This description forms part of our Auditors, report. Use of our report This report 15 made solely to the chartty's trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 21x18. Ourauditwork has been undertaken so thatwe mightstate to the charity's trustees those matters we are required to state to them in an Auditors, 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 its trustees, as a body, for our audit work. for this report, or for the opinions we have formed. Fiikop 7Zewi*Yg LLP Bishop Fleming Lip Chartered Accountants Statutory Auditors 10 Temple Back Bristol BSI 6FL Date: 5 May 2025

THE WOODROFFE BENTON FOUNDATION STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 2nd D£￿MBER 2024 NO TOTAL FUNDS 2112124 TOTAL FUNDS 2112123 FUND El￿wMENT FUND INCOME Property Income Net Inccffne from Investments Bank interest Other income- Doris BaylessTrust Other income- Ifield Park Liquidation 3.620 142,883 9,031 50,719 1.719.962 3.620 193,993 9.031 50.719 1.719.962 51,110 203,287 2,538 167.320 io io TOTAL 1.926.215 51.110 1.977,325 376,208 EXPENDffURE Cost of generating funds Grant Expenditure Grant related support costs 34,810 670.2 44,234 43,318 670,250 44,234 42,567 383.250 32,244 COST OF GRA￿-MAKING Governance costs 10,760 10,760 10,308 TOTAL 760.054 &508 768.562 468,369 NET 0(￿GOING RESOURCES FOR YEAR BEFORE OTHER RECOGNISEDGAINS & Lo￿Es 1,166.161 42.fQ2 1.208,763 192,161 Net gainslllossesl on investments I,CE6.231 222,316 1.288,547 {160,6301 INCOME 2,232,392 264.918 2.497.310 1252,7911 Reallocation of reserves 52.687 {52.687) MOVEMENT IN FUNDS 2.285.079 212.231 2,497,310 {252,7911 BALAN￿ BROUGfrrr FORWARD 7.L)Jl,896 1,558,862 8.560,758 8,813,549 BALANCE CARRIED FORWARD 9.2&5.975 1.771.093 11,058,068 8.560.758 10

THE WOODROFFE BENTON FOUNDATION BALANCE SHE￿ AT ￿￿1 DECEMBER 2024 UNRESTrICIED ￿RMANENT FUND EN￿wMENT FUND TOTAL TOTAL FUNDS FUNDS 021￿124 02112123 NOIE FIXED ASSETS lat market value) Investment property 87. 87,5CO 87. Investrnents- Shareholdings 7.173,760 1.771.093 8,944.853 7.821,422 TOTAL HXED ASSErs 7.261.260 1.771,093 9,032.353 7,9)8,922 CURREKT ASSETS Debtors Doris Ba￿esS Trust Debtor Cash at Bank and in Hand 4(r2 402 167,320 504654 io 2.260.343 2,260,343 TOTAL CURREKf ASSETS 2,260.745 2,260.745 676.376 LIABILrriES Creditors falling due within one year li 235,030 235.030 24.540 CURREFff ASSErs 2.025,715 2.025.715 651,836 TOTAL NET ASSETS 9.286.975 1,771,093 11.058.068 8.560,758 THE FUNDS OFTHE CHARrrY Permanerrt Endowment Fund 1.771,093 1,558,862 Unrestricted Fund 9.286.975 7,￿1,896 11,058.068 8,560,758 APPROVAL This report was approved by the Trustees on 25 rJ fr 2025 and signed on their behalf. EJ White CHAIR The notes on pages 13 to 18 form part of these financial statements. 11

THE WOODROFFE BENTON FOUNDATION STATEME￿ OF CASH FLOWS YEAR ENDED 2ND DE￿MBER 2024 NOTE TOTAL FUNDS 2024 TOTAL FUNDS 2023 NET CASH USED IN OPERATING AcnviTIES 13 1,391,412 1311.7561 NET CASH PROVIDED BY INVEsnNG AcfiviMES Investment income 2C6,644 Net Proceeds from investments Additions (rt C05t DAsposal proceeds 208,888 12.534,671) 2.688.3Chl {2.251,6421 2.427,968 153.633 176,326 2,130.958 385.214 CHANGE SN CASH AND CASH EQUIVALEWS FOR THE Y&4R 1,751.689 73.458 CASH AND CASH EQUIVALEMrs BROUGHT FORWARD 508.654 435,196 CARRIED FORWARD 2.260.343 12

THE WOODROFFE BENTON FOUNDATION NOTES TO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 2nd DECEMBER 2024 I. ACCOUNTING pouaES 1.1 BASIS OF PREPARATION The Financial Statements have beeA prèpared under the historical cost convention. with items recognised at cost or transaction value unless otherwise stated in the rdevant notelsl to these accounts, in accordance wth the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordan￿ with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. 1.2 PUBLIC BENEFrr AND GOING coN￿RN The Charity constitutes a public benefit as defined by FRS 102. The Trustees consider that there are no material uncertainties about the Chariws ability to Continue as a going concern. They have considered the future of the charity and Confirm that it is a going concern fcT the next twelve months due to holding sufficient funds and the spend being at Trusteeg discretion 1.3 RECONauATION wrrH PREVIOUS GENERAiLY ACCEPTED ACCOUNTING PRA￿lCE In preparing the Accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP a restatement of comparative items was needed. No restatements were required. 1.4 FUND ACCOUNTING The Unrestricted Fund can be spent on any purpose within the Four)d*ion's obierts at the discretion of the Trustees. The Permanent Endowment Fund is for income generation. 1.5 INCOMING RESOURCES All incoming resources are irKluded in the statement of financial activities when the charity is legally entitled to thè income and the amount can te quantified wrf(h reasonable accuracy. 1.6 EXPENDrruRE 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 wll be required in settlement and the amount of the otAigation can be measured rella￿V. Expenditure is dassified by artivity. The costs ol each activity are made up of the total of dirert costs and sha￿d costs, including support costs involved in undertaking each artiwty. Direct costs attributable to a %ngle activity are all￿ated directly to that activity. Shared costs which contribute to more than one activity and support costs whith are not attributab5e to a single activity are apportioned between those artivities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attachirE are f￿r¥I[ed. Grants offered subject to conditions which have not been met at the year-end are noted asa commitmen¢ but not acuued as expenditure. All expenditure is inclusive of irrecovera1￿@ VAT. 1.7 COSTS OF GENERATING FUNDS The t05ts of generatirÉ funds consist of investment management fees. 13

cHAR￿ABLE Acriv￿lEs The Trustees consider that grant-making is the Foundation's sole charitsble actNity. 1.9 SUPPORT cosrs These comprise a proportion of Secretarial costs and expertses. as well as Treasurer costs and IT support costs and costs of Trusteeg meeting* aTrJ their allocation is based on estimated time spenL 1.10 GOVERNANCE Costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs indude costs related to statutory audit and legal fees together with an allocation of support costs. 1.11 INVESTMENTS Investments consist of investment property and fixed asset investmen Fixed asset investments are a fomi of finanoal instrument and are initially recognised at their transaction cost and subsequently measured at their fair value at the Balance sheet date, unless the value cannot be measured relia￿¥ in which case it is measured at cost less impairment. Investment property is measured initially at cost and subsequentty at fair value at the reporting date. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains I (Losses} on investments. in the Statement of Financial ￿tiVitIe￿ It also includes cash and short-tern) highly liquid investments with a short maturity of 3 months or less from the date of acquisition or opening of the deposit or similar account. 1.12 CASH AT BANK AND IN HAND Cash at bank and in hand now only includes the two Bardays Bank Accounts and a Paypal account However. this year the cash in Barclays includes the income received in NoVem￿r from the Members Voluntary Liquidation of Ifidd Park, which was £1,719.962. This leaves £540.381 as other cash at bank and IA hand. 1.13 FINANCIAL INSTRUMENTS The Company only has financial assets and financial liabilities of a kind that qualify as basic finanaal instrumer¢ts. Basic financial instruments are initially recognised at transaction value and subsequently measured at thar settlement value. 1.14 DEBTORS Trade and other debtors are recognised at the settlement amount after any trade discount Offer￿1. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.15 CRED￿oRs Liabilities are recognised when there is an obltgation at the Balan￿ sheet date as a result of a past event. it is probable that a transfer of economÈ¢ bènefit will required in settlemen¢ and the amount of the settlement and be estimated reliably. knabilities are recognised at the amount that the Company anticipates it will pay to settle the debtor the amount it has ￿e1Ved as athanced payments for the goods or services it must provide 14

1. TRUSTEES, REMUNERATION Edward White, receNed £980 in April 2024 for legal work connerted to the garages in Rochford Estate. The Trustees were reimbursed with expenses ne￿sSarI￿ incurred in Ferfomiance of their duties amounting to £11612023= £1741, which are part of support costs. INVESTMENT INCOME 2024 2023 Dividènds Interest on Securities & Cash Deposits 160,911 33,082 170,851 32,426 193.993 203.287 COST OF GENERATING FUNDS Investment management fees 43.318 42.567 ALLOCATION OF SUPPORT cosrs GRANT MAKING GOVERNAN 2024 2024 2023" SecTetarial Costs and Expenses IT Software and consumables Subscriptions Trustees, Expenses General expenses Legal expenses PO Box number Audit and accountancy Fees Insurance ITSupport 29.659 1.564 533 116 29,659 1.564 533 116 3.C02 22.469 1.260 513 174 946 424 6,856 424 16,636 396 14.264 9.7 2.250 44.234 10,760 54,994 42.552

2. OFFICER cosrs The Foundation paid its Secretary fees totalling £28.281 (2023= £20,811) and expenses £1.37812023: £1,658) and it paid its Treasurer £6.85612023= £4.7241. There 15 no pension scheme. INVESTMENT PROPERTY 2024 2023 Market value at 3rd December 87.5CK) Unrealised gain on revaluation Market value at 2nd December 87.5CK) 87.5CIJ The Chariws one half interest in the prcperties collectivety known as Rochford Estates consisting of a block of eleven garages was revalued at £87.SC(J in May 2021 by Sorrell's (independent RICS registered chartered surveyorsl. The fair value of the investment property was calculated based upon comparable sales prices. ThÈ Trustees do not consider that the values of the garages have materially altered since that date. However. the trustees have had the garages revalued in January 2025 at £￿,(￿. 15

3. INVESTMENTS SHAREHOLDINGS 2024 MOVEMENT IN FIXED ASSET LISTED INVESTMENTS Marketvalue at 3rd De￿rnber Additions at Cost Disposals at cost Revaluations Cash balance movement 7.821,422 2,534.671 {2.319.987) 920,231 111.4841 8.338.571 2,251.642 I2.177,￿lI (410.6981 {180.1921 MARKET VALUE AT 2nd DE￿MBER 4944.853 7.821,422 HISTORICAL COST AT 2nd DECEMBER 7.384,518 7.183.C(J2 BASIS OF VALUAMON. Stctk Exchange Official List for listed securities. There a￿ no unlisted securities held. INVESTMENTS AT FAIR VALUE COMPRISED 2024 Bonds & Fixed Interest Securities UK Equitie5 Overseas Equities Global Investments Property Other Bank balan 539.134 1.924.339 5.240.924 466,115 158,786 533.817 81.738 389,782 1.832,356 4.175.812 531,347 210,779 588,125 93,221 8.944.853 7,821,422 DEBTORS 2024 2023 Rochford Estates-apportionments Subscription prepayment 222 222 402 402 io. DORIS BAYLESS TRU￿ & vOLuTr￿ARy MEMBERS UQUIDATION OF IFIELD PARK In June 2023 Doris Bayless died and as per the Will Trust of A W Benton, after tax and other expenses, the Trust's remaining monies have been paid to the Foundation. The value shown on last yearfs accounts at 2 December 2023 of £167,320 was received in May 2024 along with a further £￿.719 throughout the year with final payment in November. So a total of £218.039 has been re￿IVed. In May, the Trustee made the deasion to use £2￿,c(￿ of this money to support the Dyers Livery Company. with helping to enhance the dubhouse at the Dyers Almshouse in Crawley. With regard to the £1,719,962 received in November which was the proceed of a Members Voluntary Ltquidation of lfield Park. the Goodwin Benton Working Group is looking at the possibilities of investing this. 16

IL CREDITORS AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Audit Fee Grants Payable Accounts Payable 9.780 225.C 250 9,540 15,CK¥J 235.030 23.540 IZ GRANT COMMITMEKrs The Charity had no commiknents at the balano sheet date other than to pay grants awarded of £225,(KM)12022 £15.(￿1. 13. RECONCIUATION OF NEf MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING AcTIV￿lEs 2024 2023 Net movement in funds Deduct investment income Add/lDeductl decrease linuease) in debtors Deduct realised gains on investments Add/lDeduct} unrealised gains on investments Add/lDeductl increase in creditors AddllDeductl investment cash movement 2.497.310 12(%,6441 167,320 1368,3171 1920.231) 210,490 11,484 1252,7911 1208.8881 1167.3201 1250,0671 410,698 123.5801 180,192 Net cash used in operating activities 1,391.412 1311.7561 14. FINANCIAL INSTrUMENTS 2024 2023 FINANCIALASSE75 Financial assets measured at fair value thrO￿h income and expenditure 8.944.769 7.821.422 Financial assets measured at fair value through income and expenditure comprises investments in listed share 15. RELATED PARTIES In the current yearthe Foundation paid £l.8XJ to Mr W D M Hope fw IT Support. Mr W D M Hope is the son of Mr J J Hope, and tr￿other of Miss J Hope. who are both trustees. The Foundation also paid £980 to Clarkson. Wright and Jake5 for Legal fees. Mr E White. chair of the trustees. is a partner with the Firm. 17

16. OTHER INFORMATION The Foundation was set up by Trust Deed in November 1988 by the late Awred Woodroffe Benton. It later amalgamated wth the S Wolfe Memorial Fund and is now governed by a Scheme sealed by the Charity Commissioners for England arml Wares on 6th April 1999. It is a Registered Charity, nwnber 1075272. Its registered address is- Woodroffe Benton Foundation PO Box 309 ciren￿ster GL79HA A description of the nature of its operati¢)ns and principal activities are disdosed in the Trustees, Report on pages2 to 6. 18