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 Indep￿ident 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 Z￿riCh
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 cliarit￿eS 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 mANAGEME￿r
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 Servi￿S.
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 Charit￿S 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 re￿1ve 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
obl￿tIves, 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.
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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
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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.
l11vestsne￿t 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.
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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
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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
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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 RId￿rdS 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