## THE PATRICIA ROUTLEDGE FOUNDATION
## **Trustees’ Report**
## **and Financial Statements**
for the year ended 31 March 2024
**Registered Charity Number 1077862**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **CONTENTS**
||**Page**|
|---|---|
|Charity information|1|
|Trustees’ report|2|
|Independent auditor’s report|4|
|Statement of financial activities|7|
|Balance sheet|8|
|Satement of cash flow|9|
|Accounting policies|10|
|Notes to the financial statements|12|
**THE PATRICIA ROUTLEDGE FOUNDATION** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **CHARITY INFORMATION**
## **Trustees**
Dame K P Routledge Rev Canon T D Nason Mrs S W Simmons Mr M A Sims Ludlow Trust Company Limited
## **Principal office**
1st Floor Tower Wharf Cheese Lane Bristol BS2 0JJ
## **Registered charity number**
1077862
## **Independent Auditor**
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
## **Banker and investment manager**
Coutts & Co 440 Strand London WC2R 0QS
**Page 1**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **TRUSTEES’ REPORT**
The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
The Patricia Routledge Foundation is a registered charity constituted under a trust deed dated 31 March 1999 as amended by deed dated 24 September 1999 as amended by scheme dated 5 June 2012 and as amended by deeds dated 13 November 2013 and 13 September 2021, and registered as a charity 20 October 1999.
The Foundation is controlled by the trustees. The power to appoint and remove trustees rests with the settlor trustees, or survivors of them, during their lifetime and subject to this is exercisable by the trustees from time to time.
On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the Trust, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.
The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems they have established effective systems to mitigate those risks.
## **OBJECTIVES AND ACTIVITIES**
The objects of the charity are to further such objects or purposes which are exclusively charitable according to the law of England and Wales as the trustees shall think fit.
In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.
## **ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW**
Incoming resources for the period totalled £491,377 (2023: £331,931) consisting of investment income of £78,117 (2023: £65,044) and transfers from the capital fund of £413,260 (2023: £266,887).
Charitable expenditure in the period comprised grants to charitable organisations totalling £468,084 (2023: £303,125) while support and governance costs amounted to £19,864 (2023: £21,575) with investment management fees of £14,423 (2023: £14,437) giving total resources expended of £502,371 (2023: £339,137).
Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 31 March 2024 free reserves were a surplus of £6,174 (2023: £2,745).
## **PLANS FOR FUTURE PERIODS**
The trustees intend to continue the charity’s grant-making activity.
**Page 2**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **TRUSTEES’ REPORT**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
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 & 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 period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed 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 operation
The trustees are responsible for keeping proper 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.
## **APPOINTMENT OF INDEPENDENT AUDITOR**
For the period under review the charity exceeded the audit threshold and appointed Blue Spire Limited as auditors. Blue Spire Limited have expressed their willingness to remain as auditors of the charity.
Approved by the trustees and signed on their behalf.
Katherine Forder on behalf of Ludlow Trust Company Limited Trustee
26 November 2024 Date
**Page 3**
**THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **INDEPENDENT AUDITOR’S REPORT**
## **Independent Auditor’s Report to the Trustees of The Patricia Routledge Foundation**
## **Opinion**
We have audited the financial statements of The Patricia Routledge Foundation (the ‘charity’) for the year ended 31 March 2024 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:
- give a true and fair view of the state of the charity’s affairs as at 31 March 2024, and 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 Act 2011.
## **Other matter**
The financial statements of the charity for the year ended 31 March 2023 were not audited. Accordingly we make no comment nor draw any conclusions in respect of the year to 31 March 2023 though we have satisfied ourselves the opening balances of the current year do not contain any material misstatements.
## **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 trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
**Page 4**
**THE PATRICIA ROUTLEDGE FOUNDATION** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **INDEPENDENT AUDITOR’S REPORT**
## **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:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of financial statements which 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 liquidate the charity or 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 regulations made under section 154 of that Act.
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.
Irregularities, including 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 respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Charity and the industry in which it operates, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act, and Trustee Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. As an investment and donation funded grantmaker there is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.
Audit procedures performed by the engagement team included:
- Enquiry of those charged with governance around actual and potential litigation and claims and any instances of non-compliance with laws and regulations;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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
**Page 5**
**THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **INDEPENDENT AUDITOR’S REPORT**
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/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.
## **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.
|||Cawley Priory|
|---|---|---|
|||South Pallant|
|BlueSure hiinited||Chichester
West Sussex|
|Blue Spire Limited, Statutory Auditor|Blue Spire Limited, Statutory Auditor|PO19 1SY|
|_Date_|_Date_
26 November 2024||
_Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._
**Page 6**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Investments
**2**
**Total**
**EXPENDITURE ON:**
Raising funds
**3**
Charitable activities
**4**
**Total**
Net gains/(losses) on investments
**8**
**Net Income/(expenditure)**
Transfers between funds
**11**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**10,11**
**Total funds carried forward**
**10,11**|**Income**
**Fund**
**£**
-
78,117
78,117
-
487,948
487,948
-
(409,831)
413,260
3,429
2,745
6,174|**Capital**
**Fund**
**£**
200,197
-
200,197
14,423
-
14,423
363,006
548,780
(413,260)
135,520
3,272,777
3,408,297|**2024**
**Total**
**Funds**
**£**
200,197
78,117
278,314
14,423
487,948
502,371
363,006
138,949
-
138,949
3,275,522
3,414,471|**2023**
**Total**
**Funds**
**£**
125,000
65,044|
|---|---|---|---|---|
|||||190,044|
|||||14,437
324,700|
|||||339,137|
|||||(162,243)|
|||||(311,336)
-|
|||||(311,336)
3,586,858|
|||||3,275,522|
The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
**Page 7**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **BALANCE SHEET AS AT 31 MARCH 2024**
||||**2024**|||**2023**||
|---|---|---|---|---|---|---|---|
||**Note**|**£**||**£**|**£**||**£**|
|**FIXED ASSETS**||||||||
|Investments|**8**|||3,109,399|||3,040,087|
|**CURRENT ASSETS**||||||||
|Cash at hand and in bank||317,677|||245,051|||
|**Total current assets**||317,677|||245,051|||
|**CURRENT LIABILITIES**||||||||
|Creditors: amounts falling due within one year|**9**|12,605|||9,616|||
|**Net current assets/(liabilities)**||||305,072|||235,435|
|**Net assets/(liabilities)**||||3,414,471|||3,275,522|
|**THE FUNDS OF THE CHARITY**||||||||
|Capital|**10,11**|||3,408,297|||3,272,777|
|Income|**10,11**|||6,174|||2,745|
|**Total charity funds**||||3,414,471|||3,275,522|
|The accompanying notes form part of the financial statements||||||||
Approved by the trustees and signed on their behalf
Katherine Forder on behalf of Ludlow Trust Company Limited Trustee
26 November 2024 Date
**Page 8**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **STATEMENT OF CASH FLOWS**
|**Note**
**£**
**£**
**Net cash flow from operating activities (see below)**
(299,185)
**Cash flow from investing activities**
Investment income
78,117
Payments to acquire investments
(2,166,774)
Receipts on sale of investments
2,460,468
**Net cash flow from investing activities**
371,811
**Net increase/(decrease) in cash and cash equivalents**
72,626
**Cash and cash equivalents at 1 April**
245,051
**Cash and cash equivalents at 31 March**
317,677
**Cash and cash equivalents consist of:**
Cash at bank and in hand
317,677
**Cash and cash equivalents at 18 December**
317,677
**Reconciliation of net income to net cash flow from operating activities**
**£**
**£**
Net income/(Net expenditure)
138,949
Adjusted for:
Investment income
(78,117)
Net (gains)/losses on investments
(363,006)
Increase/(decrease) in creditors
2,989
(438,134)
(299,185)
**2024**
**2024**|**£**
**£**
(214,576)
65,044
(2,011,428)
2,003,945
57,561
(157,015)
402,066
245,051
245,051
245,051
**£**
**£**
(311,336)
(65,044)
162,243
(439)
96,760
(214,576)
**2023**
**2023**|**£**
**£**
(214,576)
65,044
(2,011,428)
2,003,945
57,561
(157,015)
402,066
245,051
245,051
245,051
**£**
**£**
(311,336)
(65,044)
162,243
(439)
96,760
(214,576)
**2023**
**2023**|
|---|---|---|
|||(214,576)|
**Page 9**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **ACCOUNTING POLICIES**
## **General information, scope and basis of the financial statements**
The Patricia Routledge Foundation is a registered unincorporated charity, established under a trust deed, in England and Wales. The address of the principal office is given in the charity information of these financial statements and the nature of the charity’s operations and principal activities are detailed in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
- Raising funds; these include investment management fees charged by the charity's investment managers
- Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
## **VAT**
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
**Page 10**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **ACCOUNTING POLICIES**
## **Taxation**
The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the Charity's activities.
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.
## **Debtors receivable and creditors payable within one year**
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 expenditure.
## **Cash and cash equivalents**
Cash and cash equivalents includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
## **Fund accounting**
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Capital (endowment) funds comprise the original gifts introduced by the settlor trustees and associated gift aid, together with the accumulated realised and unrealised surpluses arising on investments acquired with those gifts, less any donations made out of capital. The capital funds are expendable at the discretion of the trustees. Investment management charges and legal advice relating to the fund are charged against the fund. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
**Page 11**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Income from donations and legacies**
|Donations
Gift aid
**2. Income from investments**
Income from investment assets
Interest on cash deposits
**3. Raising funds**
Investment management fees|**Income**
**Funds**
**£**
-
-
-
**Income**
**Funds**
**£**
72,393
5,724
78,117
**Income**
**Funds**
**£**
-
-|**Capital**
**Funds**
**£**
140,000
60,197
200,197
**Capital**
**Funds**
**£**
-
-
-
**Capital**
**Funds**
**£**
14,423
14,423|**2024**
**Total**
**Funds**
**£**
140,000
60,197
200,197
**2024**
**Total**
**Funds**
**£**
72,393
5,724
78,117
**2024**
**Total**
**Funds**
**£**
14,423
14,423|**Income**
**Funds**
**£**
-
-
-
**Income**
**Funds**
**£**
63,238
1,806
65,044
**Income**
**Funds**
**£**
-
-|**Capital**
**Funds**
**£**
100,000
25,000
125,000
**Capital**
**Funds**
**£**
-
-
-
**Capital**
**Funds**
**£**
14,437
14,437|**2023**
**Total**
**Funds**
**£**
100,000
25,000|
|---|---|---|---|---|---|---|
|||||||125,000|
|||||||**2023**
**Total**
**Funds**
**£**
63,238
1,806|
|||||||65,044|
|||||||**2023**
**Total**
**Funds**
**£**
14,437|
|||||||14,437|
## **4. Expenditure on charitable activities**
|Grants to institutions (see note 5)
Support and governance costs
Administrative management fees
Accountancy fees
Independent auditor's fee
Independent examiner's fee|**Income**
**Funds**
**£**
468,084
17,764
-
2,100
-
487,948|**Capital**
**Funds**
**£**
-
-
-
-
-
-|**2024**
**Total**
**Funds**
**£**
468,084
17,764
-
2,100
-
487,948|**Income**
**Funds**
**£**
303,125
20,795
600
-
180
324,700|**Capital**
**Funds**
**£**
-
-
-
-
-
-|**2023**
**Total**
**Funds**
**£**
303,125
20,795
600
-
180|
|---|---|---|---|---|---|---|
|||||||324,700|
At the balance sheet date the charity had unprovided grant commitments, subject to ongoing review and approval, amounting to £326,180 which will be approved and paid on the basis of the trustees’ satisfaction of the use of funds previously provided.
**Page 12**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **5. Grants to institutions - one payment unless indicated**
|4Sight Vision Support
Action For M.E.
Actors Benevolent Fund
Acts Fast
AESS
Age UK West Sussex
Age UK Wirral
Asthma Relief
Beanstalk
Beatrix Potter Society
Become Charity
Birkenhead School
Birmingham Royal Ballet
BLESMA
Bristol Association For Neighbourhood Daycare
Bristol And Bath Parks Foundation
Bristol Old Vic Theatre School Limited
British Blind Sport
British Epilepsy Association
British Heart Foundation
British Wireless For The Blind Fund
CancerWise
Carers UK
Challengers
Changing Tunes
Cheltenham Festivals
3
Chestnut Tree House
Chichester City Centre Drop In
Chichester Festival Theatre
2
Chichester Symphony Orchestra
Child Bereavement UK
Children on the Edge
Childrens Book Fest - Chichester CIO
Claire House Children's Hospice, The Wirral
Contact '88', Chichester
Crisis UK, Christmas Appeal
Cruse Bereavement Support
Deafblind UK
Dementia Support
Eastside Community Trust
End Furniture Poverty
English National Opera
Farms for City Children
Fishbourne Playing Field Association
Forest Of Avon Trust
Freedom From Torture
_Carried down_
Chichester Cathedral Restoration And Development
Trust CIO
Chichester Diocesan Association For Family Support
Work|**2024**
**Total**
**Funds**
**£**
5,000
_Brought down_
3,000
5,000
Friends Of Chichester Hospital
2,000
Goodwood Education Trust
5,000
Headway
5,000
Holst Birthplace Trust
5,000
Housing Matters
2,000
Inside Justice
3,000
2,000
Jessie May
5,000
JMK Trust
100
Kent, Surrey & Sussex Air Ambulance Trust
3,000
Kidney Research UK
4,000
Leukaemia UK
1,000
Listening Books
2,000
London Symphony Orchestra
5,000
Marie Curie Cancer Care, Chichester
1,500
Marylebone Project
3,000
Mencap
2,000
Meningitis Now
3,000
1,000
Missing People
5,000
Momentum Children's Charity
2,000
Motor Neurone Disease Association
2,000
Muscular Dystrophy UK
5,080
My Sister's House
3,000
National Children's Orchestra
1,200
National Literacy Trust
2,000
Newlife
2,500
North West Air Ambulance
15,000
Oesophageal Patients Association
2,000
Operation Smile
4,000
Osteoporosis Society
5,000
3,000
Ovation Music
5,000
Red Ballon Learner Centres
5,000
Royal Academy Of Music
3,000
Royal Northern College Of Music
2,000
RSPB
2,000
Sailors' Society
5,000
2,000
Shannon Trust
1,000
Sightsavers
1,000
SOFA Project
3,000
Songbird Survival
5,000
Southern Cathedrals Festival
2,000
Spinal Muscular Atrophy UK
5,000
_Carried down_
160,380
Independent Provider Of Special Education
Advice
Microphthalmia, Anophthalmia&Coloboma
Support
Queen Elizabeth's Foundation For Disabled
People
Samaritans Of Bognor Regis, Chichester &
District|**2024**
**Total**
**Funds**
**£**
160,380
2,000
1,000
5,000
6,204
2,000
5,000
3,000
3,000
3,000
3,000
5,000
5,000
1,000
3,000
4,000
5,000
2,000
2,000
1,000
3,000
3,000
2,000
3,000
3,000
2,000
5,000
3,000
2,000
1,000
1,000
2,000
4,000
2,000
5,000
10,000
5,000
2,000
2,000
3,000
3,000
2,000
1,000
1,000
5,000
2,000|
|---|---|---|
|||298,584|
**Page 13**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
|**5. Grants to institutions - one payment unless indicated (continued)**
**2024**
**Total**
**Funds**
**£**
_Brought down_
298,584
_Brought down_
St Barnabas Hospices (Sussex) Ltd
3,000
The Macular Disease Society
St Richards Hospice Foundation
2
5,000
The Nucleo Project
St Wilfrid's Hospice
2
8,000
The Royal British Legion
Stonepillow
5,000
The Royal National College For The Blind
Stroke Association
2,000
The Royal National Lifeboat Institution
Sussex Community Foundation
5,000
The Seeing Dogs Alliance
Teenager Cancer Trust
2,000
The Aldingbourne Trust
3,000
The Sussex Snowdrop Trust
The Alzheimers Society
3,000
The Szilway Foundation
The Amber Trust
5,000
The Bach Choir
2,000
The Woodland Trust
The Barn Owl Trust
1,000
Travelling Light Theatre Company
The Benedetti Foundation
2,000
Treloar Trust
The Brain Tumour Charity
4,000
UK Harvest Limited
The Bristol Children's Help Society
2,000
University College London Hospitals Charity
The Cambridge Arts Theatre Trust Ltd
3,000
University of Liverpool
The Campaign for National Parks
2,000
Variety The Children's Charity
The Compassionate Friends
2,000
Victim Support
The Connection at St Martin-In-The-Fields
5,000
2
The David Nott Foundation
5,000
Winston's Wish
The Extracare Charitable Trust
5,000
Young Lives vs Cancer
The Four Streets Project, Chichester
3,000
Young Sounds UK
The Girls' Day School Trust
2
4,000
Yvonne Arnaud Theatre, Guildford
The Guide Dogs For The Blind
5,000
Zimbabwe A National Emergency
_Carried down_
384,584
_Total_
**2023**
**Total**
**Funds**
**£**
4Sight Vision Support
3,000
_Brought down_
Action For M.E.
2,000
Actors Benevolent Fund
5,000
Bristol Old Vic Theatre School Limited
AESS
5,000
British Epilepsy Association
Age UK West Sussex
5,000
British Wireless For The Blind Fund
Age UK Wirral
5,000
Carers UK
Alnwick Distric Playhouse Trust
2,000
Caudwell Children
Asthma Relief
2,000
Challengers
At A Loss.Org
1,000
Cheltenham Festivals
2
Beanstalk
3,000
Chestnut Tree House
Beatrix Potter Society
2,000
Chichester Festival Theatre
Become Charity
4,000
Chichester Symphony Orchestra
Bershire, Buckinghamshire And
Oxfordshire Wildlife Trust
1,000
Child Bereavement UK
Birkenhead School
100
Children on the Edge
Birmingham Royal Ballet
3,000
Children's Hearts UK
Bletchley Park Trust
2,000
Claire House Children's Hospice, The Wirral
Blind Veterans UK
2,000
Contact '88', Chichester
_Carried down_
47,100
_Carried down_
Wallace and Gromit's
Children's Foundation
The Westminster Abbey Trust
The Sussex Association for Spina Bifida &
Hydrocephalus|**2024**
**Total**
**Funds**
**£**
384,584
5,000
2,000
5,000
2,000
3,000
3,000
2,000
3,000
2,000
5,000
3,000
2,000
2,000
3,000
2,000
3,500
5,000
3,000
5,000
3,000
3,000
4,000
10,000
3,000|
|---|---|
||468,084|
||**2023**
**Total**
**Funds**
**£**
47,100
5,000
2,000
2,000
4,000
2,000
1,000
3,825
3,000
4,000
2,000
3,000
5,000
1,000
5,000
3,000|
||92,925|
**Page 14**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
|**5. Grants to institutions - one payment unless indicated (continued)**
**2023**
**Total**
**Funds**
**£**
_Brought down_
92,925
_Brought down_
Crisis UK, Christmas Appeal
3,000
Sistema England
Deafblind UK
2,000
Songbird Survival
DEC - Pakistan Floods Appeal
5,000
St Barnabas Hospices (Sussex) Ltd
Dementia Support
5,000
St Richards Hospice Foundation
Drama Expressions For Children
2,000
St Wilfrid's Hospice
English Symphony Orchestra
1,000
Stonepillow
Farms for City Children
3,000
Strength & Learning Through Horses
Freedom From Torture
5,000
Stroke Association
Friends Of Chichester Hospital
2,000
Sussex Community Foundation
HART Wildlife Rescue
1,000
Terry's Day Care Limited
Headway
3,000
The Aldingbourne Trust
Housing Matters
1,000
The Alzheimers Society
Independent Provider Of Special Education Advice
2,000
The Amber Trust
James Menzies-Kitchin Memorial Trust
2,000
The Bach Choir
Kent, Surrey & Sussex Air Ambulance Trust
3,000
The Brain Tumour Charity
Kidney Research UK
5,000
The Brainwave Centre Limited
Life Education Bristol
2,000
The Campaign for National Parks
Listening Books
2,000
The Church Army
Living Paintings
2,000
The Connection at St Martin-In-The-Fields
London Symphony Orchestra
3,000
The Disabled Sailors Association
Marie Curie Cancer Care, Chichester
4,000
The Extracare Charitable Trust
Missing People
3,000
The Four Streets Project, Chichester
Momentum Children's Charity
2,000
Motor Neurone Disease Association
2,000
The Guide Dogs For The Blind Association
Muscular Dystrophy UK
2,000
The Macular Disease Society
Musicians Benevolent Fund
1,000
The Naval children's Charity
National Literacy Trust
3,000
The Royal British Legion
National Museums Liverpool
2,000
The Royal National College For The Blind
North West Air Ambulance
2,000
The Royal National Lifeboat Institution
One25 Limited
2,000
The Sussex Snowdrop Trust
Operation Smile
1,000
The Woodland Trust
Osteoporosis Society
2,000
Treloar Trust
Polka Children's Theatre Limited
2,000
UK Harvest Limited
Queen Elizabeth's Foundation For Disabled People
2,000
2
Red Ballon Learner Centres
4,000
Variety The Children's Charity
Resolve West Ltd
1,000
Victim Support
RSPB
2,000
Winston's Wish
Samaritans Of Bognor Regis, Chichester & District
3,000
Young Lives vs Cancer
Shannon Trust
2,000
Young Sounds UK
Sightsavers
2,000
Zimbabwe A National Emergency
_Carried down_
190,925
_Total_
University College London
Hospitals Charity (UCLH)
The Friends Of Bristol Haematology And
Oncology Centre|**2023**
**Total**
**Funds**
**£**
190,925
2,000
500
3,000
3,000
5,000
5,000
1,000
2,000
4,500
1,000
3,000
3,000
4,000
2,000
1,000
1,000
2,000
5,000
3,000
2,000
3,000
2,000
1,000
3,000
5,000
3,200
5,000
2,000
3,000
3,000
3,000
2,000
2,000
3,000
5,000
3,000
3,000
2,000
3,000
3,000|
|---|---|
||303,125|
**Page 15**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **6. Independent auditor's and examiner's fees**
|Auditor's fee - audit
Examiner's fee - examination|**Income**
**Funds**
**£**
2,100
-
2,100|**Capital**
**Funds**
**£**
-
-
-|**2024**
**Total**
**Funds**
**£**
2,100
-
2,100|**Income**
**Funds**
**£**
-
180
180|**Capital**
**Funds**
**£**
-
-
-|**2023**
**Total**
**Funds**
**£**
-
180|
|---|---|---|---|---|---|---|
|||||||180|
## **7. Related party transactions**
During the year under review Ludlow Trust Company Limited charged the charity £17,764 (2023: £20,795) for administrative services with £4,291 (2023: £5,190) accrued at the balance sheet date.
The Trust has no employees, all administration being carried out by the trustees.
Other than the fees noted above, no remuneration was paid to nor expenses paid to or on behalf of any trustee during the period under review.
## **8. Fixed asset investments - Listed**
|Brought forward
Additions
Disposals at proceeds
Change in market value
Gains/(losses) on investments|**2024**
**£**
3,040,087
2,166,774
(2,460,468)
363,006
3,109,399
363,006
363,006|**2023**
**£**
3,194,847
2,011,428
(2,003,945)
(162,243)|
|---|---|---|
|||3,040,087|
|||(162,243)|
|||(162,243)|
## **9. Creditors: amounts falling due within one year**
|Accruals - Audit fees
Accruals - Accountancy fees
Accruals - Administrative Management fees
Accruals - Independent examiner's fees
Accruals - Investment Management fees
Accruals - Grants payable|**2024**
**£**
2,100
600
4,291
-
3,614
2,000
12,605|**2023**
**£**
-
600
5,190
180
3,646
-|
|---|---|---|
|||9,616|
## **10. Analysis of net assets between funds**
|Fixed assets investments
Net current assets|**Income**
**Funds**
**£**
-
6,174
6,174|**Capital**
**Funds**
**£**
3,109,399
298,898
3,408,297|**2024**
**Total**
**Funds**
**£**
3,109,399
305,072
3,414,471|**Income**
**Funds**
**£**
-
2,745
2,745|**Capital**
**Funds**
**£**
3,040,087
232,690
3,272,777|**2023**
**Total**
**Funds**
**£**
3,040,087
235,435|
|---|---|---|---|---|---|---|
|||||||3,275,522|
**Page 16**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **11. Net movement in funds**
|Capital funds
Income funds
Capital funds
Income funds|||**Year ended 31 March 2024**|**Year ended 31 March 2024**|||
|---|---|---|---|---|---|---|
||**Total funds**
**brought**
**resources**
**£**
3,272,777
2,745
3,275,522|**Total**
**incoming**
**resources**
**£**
200,197
78,117
278,314|**Total**
**Transfers**
**resources**
**between**
**expended**
**funds**
**£**
**£**
(14,423)
(413,260)
(487,948)
413,260
(502,371)
-
**Year ended 31 March 2023**||**Gains/(losses)**
**on investment**
**assets**
**£**
363,006
-
363,006|**Total funds**
**carried**
**forward**
**£**
3,408,297
6,174|
|||||||3,414,471|
||||||||
||**Total funds**
**brought**
**resources**
**£**
3,591,344
(4,486)
3,586,858|**Total**
**incoming**
**resources**
**£**
125,000
65,044
190,044|**Total**
**resources**
**expended**
**£**
(14,437)
(324,700)
(339,137)|**Transfers**
**between**
**funds**
**£**
(266,887)
266,887
-|**Gains/(losses)**
**on investment**
**assets**
**£**
(162,243)
-
(162,243)|**Total funds**
**carried**
**forward**
**£**
3,272,777
2,745|
|||||||3,275,522|
The transfer from endowment to unrestricted funds was implemented to provide resources for grant awards in furtherance of the charity's objectives.
## **12. Financial instruments**
The carrying amounts of the charity's financial instruments are as follows:
|**2024**
**Total**
**Funds**
**£**
_Financial assets_
Measured at fair value through net income/(expenditure):
Fixed asset investments
3,109,399
3,109,399
The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
**2024**
**Total**
**Funds**
**£**
_Income and expense_
Financial assets measured at fair value through net income/(expenditure)
Investment income
72,393
Investment management fees
(14,423)
57,970
_Net gains and losses (including changes In fair value)_
Financial assets measured at fair value through net income/(expenditure)
Net gains/(losses) on investments
363,006
363,006
value with valuations obtained by|**2023**
**Total**
**Funds**
**£**
3,040,087|
|---|---|
||3,040,087|
||**2023**
**Total**
**Funds**
**£**
63,238
(14,437)|
||48,801|
||(162,243)|
||(162,243)|
|||
**Page 17**
## **THE PATRICIA ROUTLEDGE FOUNDATION**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **13. Comparative statement of financial activities**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Investments
**2**
**Total**
**EXPENDITURE ON:**
Raising funds
**3**
Charitable activities
**4**
**Total**
Net gains/(losses) on investments
**8**
**Net Income/(expenditure)**
Transfers between funds
**11**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**10,11**
**Total funds carried forward**
**10,11**|**Income**
**Fund**
**£**
-
65,044
65,044
-
324,700
324,700
-
(259,656)
266,887
7,231
(4,486)
2,745|**Capital**
**Fund**
**£**
125,000
-
125,000
14,437
-
14,437
(162,243)
(51,680)
(266,887)
(318,567)
3,591,344
3,272,777|**2023**
**Total**
**Funds**
**£**
125,000
65,044|
|---|---|---|---|
||||190,044|
||||14,437
324,700|
||||339,137|
||||(162,243)|
||||(311,336)
-|
||||(311,336)
3,586,858|
||||3,275,522|
**Page 18**