Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION REPORT AND FINANCIAL STATEMENT5 For the year elided 31 Decembei. 2025
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION CONTENTS Page Reference and Administrative Information Triistees, Anniial Report Report of the Indepident Examiner Statenient of Financial Activities Balance Sheet Notes to the Financial Statemeiits 8-12
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMJNG FOUNDATION REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2025 Tlie Amai'yllis Fleiiiii)g fiouiidation was eslablislied under a Decliiratioii of Ti'ust dated l February 2000, which delerniined the objects and powers. The Aniaryllis Fleiiiiiig FoLindation is resistei'ed with Ilie Charity Comiiiission Eor England aiid Wales as Cliarity Niiinber 1080118. TRUSTEES Roderick Jolin Flemiiig Ceoffrey Adrian Rich11 rds PRINCIPAL OFFICE The Aniaryllis Fleniing Foiindalion clo RFT Management Services Limited 14 Buckingliani Street Londoii WC2N 6DF ANDEPENDENT EXAMINER Haxlewoods LLP Wiiidsor House Baysliill Road Chelteiiham GL50 3AT INVESTMENT ADVISORS BeY805 Kreustrasso 5 P.O.Box 186 8034 ZriCh Siyitzerland SOLICITORS Currey & Co LLP 33 Qiieen Anne Street London WIG 9HY REGISTERED CHARITY NUMBER 01080118 Page I
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION TRUSTEES, ANNUAL REPORT FOR YEAR ENDED 31 DECEMBER 2025 The Ti'uslees preseiil their repoi'l aloiig willi the fiiiancial slalenients of the cliarity for the year ended 31 December 2025. Tlie fiiiaiicial statenients l)ave been prepared iii accoi'daiice witli the Cliai'itf s Ti'iisl Deed, tlie cliariteS Act 2011. as aniended, and Ilie i'eviewed Slaleiiienl of Recomniended Pi'aclice - AccoLILlting aiid Reporting by Charitie5 (SORP 2015)- Refereiice and administrative iiiforiiiatioii sel out 011 ge I forms part of this repoi't. STRUCTURE, GOVERNANCE AND mANAGEMEr Tlie Trustees wlio held office Ihi'oughout the year are shown on page l. The Trust Deed slipulates Iliat Ihei'e shall be no less tlian tlireeTrustees. New Trustees, wlien reqLiired, are selected by tlie 5erviiig TrLlStees, and are appointed by a Resolutioii of existing Truslees. New Trustees are infoiI)ied of the hislory of the Chai'ily ai)d acquaiiited ivitli the activities of the Cliai'ity. Additioiial ti'aining andlor infoi'niation i5 provided to tlie'frustees oil an 01)-goii)g basis ivhen relevaiit. No Trustee receives a fee for the service they provide to ilie £hai'ity, all lime spent is doiialed free of charge. RFT Maiiagenient Services Limited provides the cliarity willi charity adniinistration and Eiiiancial reportiiig ServiS. OBJECTS AND ACTIVITIES The Cliarilys objects are Ihe support of such iiistilutions and PLlI'poses which are charitable accordins to tlie law of Enslaiid and Wales, in siich nianner and sucli pi'oportions ag the Trustees shall from tiiiie to linie at Iheii. discretion decide. Tlie Trustees liave been gratiled wide powers to aet iii (urtliei'ance of the CharitS objects. Tile Trustees support UK charitable causes, with a fociis on musical education and development knd work wilh young people geiierally. GRANT MAKING POLICY The Triislees consider applicatÈons aiid approve 8rants tliey re1ve Irom varioiis sources at regular meetings. Hoiyever, dite to the constraints oli income, unsolicited apylicalioiis can no longer be coiisidered. The Trustees have coiisidered the Charity Comnii55ion's guidance on public benefit including the guidance "public beiiefit.. runniiig a charilf, wlien forniulxting the grant r])aking pollcy. In particular, Ihe TrLislees consider how grants can be made to ensure maxiiiium benefit flows tliroush to the intended ultimate beneficiaries. Page 2
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION TRUSTEES, ANNUAL REPORT FOR YEAR ENDED 31 DECEMBER 2025 ICONT'D) ACHIEVEMENTS AND PERFORMANCE Duriiig tlie year the Trustees niade donatLOllS tolalling £6,825 as detailed iii note 5. Tl)e Triistees look for4vard to beli able to coiitinue tlieir charitable work in the coniiiig years in accoidance wilh the grai)I i)iaking policy. FINANCIAL REVIEW The Charitfs priiicipal soiirce of tnconie is from its investnients, wliich amounted to £37,148 {2024 £47,026). Durijig Ilie year IlieTruslees 5peiil £11,17112024- £396,99LI) oii cliaritable attivities as detailed LI IIDtes 5 to 7. INVESTMENT POLICY Tlie Triistees have agi'eed ali iiivestmeiit policy for the Charitfs investment portfolio. To nieet these obltIves, tlie Cliaritfs iiiveslnieiits are maiiased aeross a range of asset classes, mainlaiiiiiig diversificatioii, to produte an appropriate bala11ce between Eisk aiid i'eturn. The Trustees coiitinue to nioiiitor the perforniance of the portEolio. FUTURE PLANS Tile Trustees do not envisage aiiy niatei'ial cliaiiges to the operation of tlie Charity. The investmei)ts will continue to be managed 011 a similar basis lo iiow. RESERVES POLICY The capital is an expeiidable eiidownieiit aiid at tliis linie the Trustees do not coiisider a specific Reserve Policy iiecessary. Ai the Balance Sheet date, tlie free resei'ves of tlie charity aniouiited to £104,748 RISK MANAGEMENT The Trustees are satisfied that systems are tn place to mitigate the risks to whieh the eharity is exposed. Tlie principal risk faced by the Charity is an inveslment i'isk. Tliis risk coiild be the reductioi) iii the capital value of tlie iiiveslments aiid Ihe inconie derived fi'om the iiivestmenls, required by the Triislee5 iii meetitis their charitable objectives. Tliis risk has beeii addressed by the appointmeiit of professional advis01's lo niaiiage tlie portfolio and decide on acquisilions and disposals. KEY MANAGEMENT PERSONNEL The Trustees are considered to be the Key Maiiagenjenl Personnel OÉ the eliarily. llie Trustees are not remunerated for their services and there are no paid staff eniployed by the Trust. Page 3
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION TRUSTEES. ANNUAL REPORT FOR YEAR ENDED 31 DECEMIJER 2025 (CONT'D) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS Tiie Trustees are re5poiisible for preparing tlle Triistees. Report and tlie fiiiaiiciiil statenieiits in accordaiice with applicable law aiid United Kiiigdoiii Accouiilj21g slandai.ds {Uniled Kiiigdon) Geiiercilly Accepted Accoiinliiig Praclicel. Tlie law applicable to cliarities in Englaiid and Wales i'eqiiiies tlie Trustees to prepare lii)aiicial statemeijts for eacli fiiiancial year whicli give a Iriie and fair view of Ilie state of affair5 of the Charhly and OF tlie inconiin8 resources and application of resoiiyces for tliat pei'iod. In preparin8 those financial stalenienls Ilie Trustees are reqiiired to.. Select suitable accountiiig policies and Iheii apply Iliem consi5tei)tly- Observe the nieiliods and priiiciples in tlie Charities SORP,. Make judsnieiits aiid estiniic les Ilial are reasonable and priident,. Prepare the fiiiaiicial slalemen15 on a goiiig coiiceri) basis uiiless it is iiiappropriate to presume that the cliai'ity will contiiiue iii busiiiess. The Trustees are i'esponsible for keepiiig propel. .Iccoiintins records that disclose witli reasonable cciiracy at any tinie the fiiiancial position of tlie cliarily aaid lo enable theni to eiisure the fiiiaiicial staletneiits coniply with the Cliarities Act 2011, as amended, the Charities SORP and the provisioiis of Ilie Ttust Deed. They are also respoiisible for safeguarding the assets of the Charity and hence for takiiig reasonable 51ep5 for the prevention and detectioi) of fraud and otl)er irregularities. Approved by the Trustees and signed on their behalf by: G A RICHARDS Trustee Dated Ik> Page 4
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THI TRUSTEES OF THE AMARYLLIS FLEMING FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2025 I report to tlie ti'iistees oil niy examinatioii of tlie accounts of tlie Aiiiaryllis Fleii)iiig Fouiidation for the year eiTrded 31 December 2025. Respon5ibilitie5 and basi5 of report As tlie cliai'it}' tll15tees of Ilie Foiindalion you are i'esponsible for tlie prepai'alion of the accoiints in accoi'daiice witli tlie requirenients of tlie Cliarities Act 2011 {'the Act,). I report iii respect of iiiy exaniinatioii of tlie Fouiidatioii's accounts carried OLIt under seclioii 145 of the 2011 Act and ti) carrying out my examtnatioi) I have followed all Ilie applicable Dii'eclions givei) by the Cliarity Commission u11der 14i15) Ibl of the Act. Independent examinerfs slalement I Iiave Completed my examinatioii. I coiifirm Ihal iio niaterial matters have Come lo my attention ii) coniiection wilh the examinatloll 8ivins iiie cause to believe tliat in any iiiaterial respect: l. Accoiiiiting records were not kept in respect of Ilie Fouiidalion as required by section 130 OE the Act= or the accoiin15 do iiot accord witli those records.. or the accounts do not comply iviih Ihe applicable requirenieiits concerning tlie form aiid toiitent of accounts sel out in the Chai'ilies (Accounts and Reports) Resulations 2008 otlier tliaii any IEqutrement tliat the aceounts gtve a 'true aiid fair view wliieh is not a niatler eonsidei'ed as part of ai) independent eyamiiiation. E have no cojicei'iis aiid have con)e across no otlier niatlers in coniiection with tlie examination lo which alleiition Should be drawii iii this repoil iiTr ordei. to enable a proper understanding of the accoLint5 to be reached. 4ai.tin Howard r,or and on behalf of Hazlewoods LLP Windsor House Bayshlll Road Chelteiiham GL50 3AT Date: 241812026 Pase 5
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 DECEMBER 2025 NOTE Expendable Endowment liiconie 2025 2024 INCOME Incoiiie TOTAL INCOME 37.148 37,148 37.148 37,148 47,026 47,026 EXPENDITURE Cost OF Ceiierating Funds Cliaritable activities 11,034 3,806 14,840 11,034 11,171 22,205 12,126 396,994 409,120 7.365 7,325 TOTAL EXPENDITURE NET EXPENDITURE (14,840) 29,783 14,943 {362,094) Losses oli foi'ei811 exchanse (3,087) 13,0871 (394) Gains on investnienls 33,953 33,953 23,770 NET MOVEMENT IN FUNDS 16,026 29,783 45,809 (338,7181 RECONCILIATION OF FUNDS Total funds brou81)t Eorward 969,068 74,965 1,044,033 1,382,751 BALANCE CARRIED FORWARD 985,094 104,748 1,089.842 1,044,033 Page 6
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2025 NOTE 2025 2024 FIXID ASSETS liivestineiits 986,954 967,903 CURRENT ASSETS Cash al Baiik 104,748 104,748 77,913 77.913 LIABILITIES Creditors: amoiints falling due withiii oiie year io (1,860) (1,783) NET CURRENT ASSETS 102,888 76,130 TOTAL ASSETS LESS LIABILITIES 1.089,842 1,044,033 Representing.. UNRESTRICTED FUNDS Expendable Endowment Income li 985,094 104,748 1.089,842 1,044,033 1.044.033 Approved by the Trustee5 and signed on their behalf by.. G A RICHARDS Trustee Dated: 3tr -Y 16 Page 7
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES lal Basi8 of Preparation Tlie fiiiaiicial statenienls have beeii prepai'ed iii accoi.dance WAth tlie Fii)aiicial Reporliiig Standard applieable in tlie UK aiid Republic OE Ireland IFRS 1021. The Charity 15 a public benefit entity for tlie purposes of FRS 102 and a registered charity aiid thetefoi'e has also pi'epared its ftiiancsal slalenienls in accoi'dance witli the Statement of Reconinieiided Practice applicable lo cliarilies preparijig tlieir (Iccouiits in accoi.danee witli the Fiiiaiicial Reportiiig Staiidard applicable in Ilie UK and Repiiblic of li'elaiid (The FRS Iff2 Cliai'ities SORP}, aiid Charities Act 2011. Tlie accouiits are prepared iii 51erliIig, whicli is tlTre funelional eurrency of the Cliarity and i'oiiiided to Ilie nearest pouiid. Ibl Going Concer The Trustees consider iliat tliei'e al'e iio nialerial uncertaiiilies about the Cliaritls ability to conliiilie as a going concern. Tlie most significant areas OF iiiicertainty tliat affect the cai'ryiiig valiie of assets lield by tl)e Charity are ihe level of iiivesti)ieiit retui'ii and the perforiiiance of inve51ment iiiarkets (see the investment policy 21)d i'isk nianagement sections of the Trustees, aiiiiual report for more inforniatioi)). le) Fund Slructu Unyestricted Funds comprise tliose fuiids which the trustees are free to l15e accordance with the charitable objeels. The Expendable Endgwment Fund replesents those assets which are held for the lonser terni for the Chaiityi 111 accol'dance wilh the lei'nis of Ilie Trust Deed. Income ai'ising on the Expendable Endownient F,Iind can be used iii tlie u]estrICted liiconie Fund. As an Expendable Endowment Fund cali be used iii accordance witli the objects of the Trust and is iiicluded the Unre511'icled Funds, capital can also be speiit in certain circumstance5 in fulfilnient of the Cliaritfs objects. Any Capital gaiiis or losses arising on the investments held in the Expendable Eiidolvnient Fund form part OE tliat fiind. To the extent that grants pald exceed tlie aniouiit available froni incoiiie funds, transfers are made from the Expendable Endowment. Id) Income All inconie is recognised in Ilie Slalenienl of Financial Activities (SOFA) when tl)e eonditioiis for receipt have been mel and there 15 reasonable a55Lirance of receipt. Where a claini for repayn)eiit of Income tax has been or will be Iiiade such income is grossed up for the lax recoverable. l11vestsnet Ineoime JnYeslmeJ71 inconie is aecounted for when receivable and is stated sross of any recla&mable taxation relief. lel Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committin8 the charity to Ilie expeiiditure. All expendilure is accounted for on ali accruii15 basis and lias been classified uiider lieadings that aggregate all costs related to the catesory. The followin8 aceountirig policies are applted to the different catesories of expeiidilure: Page 8
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025 ICONT'D) ACCOUNTING POLICIES ICONVD) Costs ofgeKerntiiigJiiiirfs Tlie costs of 8eiieratiiig fuiids consist of iiiveslmeiil maiiagemeiit and i'elated costs. Clifiyitable Activities Costs of chai'ilable aclivilie5 include 8rant5 iiiade and support aiid goveriiaiice costs. Doiiatioiis payable are i'ecognised iyhen tliey are approved by the Irlislees atid Ilie ieciplent of the graiit has been informed of Ilie amount to be pald. Siipyoyt & Govenionee Costs Suppott knd Covernaiice costs coniprise all costs involvins tlie publie accountability of tlie cliarity and its conipliance with regulation and good pi'aclite. These costs incltide expeiises related to tlie independent exaniiiieijs feesi professioiial fees, and support costs. If) Flxed Asset Iiivestments Investments are stated at markel value at the balance slieet date. The SOFA Ènrlude5 the net gaiiis and losses on revaluation aiid disposals throughoiit tlie year. Ig) Realised and Uttrealised Gains and Los$e$ All gains and losses are takeii to the SOFA as they arise. Realised 8aii)s and losses on investnienls are calcLilaled as all tlie difference belTrYeen sales proceeds aiid carryiiig value (or puicliase date tf later). Unrealised gains and losses al'e calculaled as the difference between tlie niarkel value at the year end and opening market value (or pui'chase dale if later}. (h) Critical aceounling e8tiniateg and areas of judgement In preparsng financEal statenients, it is necessary to niake certaiii adjustments, estimates and assunipliotis that affect the aniouiils recosiiised in tlie fiiiaticial slalenients. In tlie view of tlle Trustees in applying the a¢eoiinting policies adopted, the only judsemei)t of note is tlie valLiation of tlie niiisical instruiiieiit lield. For tliis, reliaiice is place oli the valuatioii of expetls as per iiole io. Cash attd cash eqiiivalents Casli and cash eqiiivaleiits incliide cash at bank and iii liand ai)d short tei'ni deposkts with a nialurtly dale of tliree month5 or less. lj) Financial Instruments The Cliarity has elected to apply the provisions of Seclioii 11 Basic Fiiiaiicial Iiisti'unieiits of FRS 102 to all OE its fikiancial instruiTrieiits. Financial instlLinieiits are recognised in the Tru5Vs balance sheet when the Trust beconies pai'ty to the contractual provisions OE the instrument. fiinancial assets and liabilittes al'e offset, witli the net amounts presented in the fiiiancial 5talenieiit5, when there is a legally enforceable ti8lit to set off the recognised anioiinls and tlieye is an intention to settle on a nei basis or to realise the assel and setile the Ilabillly simiiltaneously. Ikl Foreign Currencies Traiisaclions iii foreign currencies are i'ecogiiised at tlie rate of exchange at the date of transactioii. Monetary assels and liabilities are translated into slerliiig al the rate of exchaiige on tlie balaiice slieel dale. Exchange diffei'ences are Teco8iiised ihroiksh the Stateiiient of Financial Activities. Page 9
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONT'D) INFORMATION REGARDING TRUSTEES AND EMPLOYEES In Ilie Éiiiaiicial year ended 31 Deceiiiber 2025, iioiie of tlie Iriislees received any remiineration. Travel expeiises liave beeii reimbursed by the charily to trustees Eoi. nil (2024-£4281. Tlie Charity lias no employee5. The Iiustees are considered to coniprise the Charitfs key maiiagement. INCOME 2025 2024 iicome from Iiivestments Interest oil casli deposits 37,071 77 46,854 172 37.148 47.026 COST OF GENERATING FUNDS 2025 2024 Iiivestmeiit Management Fees Custody, Adniinistratioii Fees and Transaction Fees 9,125 1,909 11.034 10.260 1,866 12.126 CHARITABLE ACTIVITIES The cliarity iinderlook no direct charltable actlVLties bLIt awarded donalioiis in fur1heratl of its eliaritable activtties as follows'.- Royal College of Music (Maxim Calver) 6,825 6,825 4,346 11,171 Support and goveriiance costs {see note 71 ANALYSIS OF DONATIONS MADE 2025 No. 2024 No. 2025 2024 The advancement of ilie arts, CLIItLire, lierita8e or scieii The advancement of education The advancement of religion 217,000 6,825 160,000 15,000 392,000 6,825 Pase 10
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONT'DI SUPPORT AND GOVERNANCE COSTS Expeiidable Endowtlieiit Iiiconie 2025 2024 liidepeiidenl Examiner's Fee curroiit year prior year lover) acerLial Legal and Profosslonal Fees Bank Charges Interest Cl)arges Travel Expenses To Charitable Aetiiiities 1,200 1,200 1,200 2,339 214 53 2,339 754 53 2,514 738 114 428 4,994 540 3,806 540 4,346 FUND TRANSFER In 2024 the Trustees tl'iill5feEred £344,974 fiom the Expendable Eiidownient Fiind to the liiconie Fiind in respect of the charitable activities12025- nil}. FIXED ASSET INVESTMENTS Movement in fixed asset investmenfs 2025 2024 Market value broiight forward Less- disposal proceeds Irealised CiipiEal caslil 964,314 (37,2581 927,056 (2,884) 36,837 961,009 25,945 986,954 1,334.967 (394,423) 940,544 1,438 22,332 964,314 3,589 967,903 Rea1É5ed Ilosses)18ains oil disposals Net gain on revaliialign Cash for Investmeiit Market valiie at 3] December His101'ical c051 Ht 31 Deceipiber 832,214 917,991 Analysis of investments:. Equities Bonds Alieriialive Investments Liqiiidity fuiids Casli held for reinvestment 587,858 363,656 2,170 7,325 25,945 986,954 533,114 420,933 2,943 7,324 3,589 967,903 Market value at 31 Decembet Pase 11
Docusign EnvelopÈ ID." 07B2C97248D7-8D6PA07A-2185F4BSFE5B THE AMARYLLIS FLEMING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONT'DI io. CREDITORS 2025 2tY24 Acci'iials 1,860 1,860 1,783 1,783 ii. FUND ANALYSIS Expeiidable Endowment Income 2025 2024 Investmen15 Casli at Bank Creditors 986,954 986,954 104,748 (1,860 1,089,842 967,903 77,913 1,783 1,044,033 104,748 {1,860) 985.094 104,748 12. RELATED PARTY TRANSACTIONS Mr G A RIdrdS is a iiieniber of the Coiincil for Tlie Royal College of Musie to whom donations 0£ £6,825 were awarded durftng Ilie year {2024= £175,0(MI). Pase 12