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

2. 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
6. 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

8. 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