The Cayo Foundation
Trustees, Report and Consolidated Financial Statements
For the year ended
30 September 2025

The Cayo Foundation
CONfENrs
Pag¢s
Trust¢¢s. OtriceTS and Advisors
Trustees. Annual Report
Ind¢pendent Examinerfs Report
Consolidatcd Stst¢ment of Financial Activitics
Balanc¢ Sheets
Consolidated Statement of Cashflow
10-15
Not¢$ to the Financial Ststemcnts

The Cayo Foundation
TRUSTEES, OFFICERS AND ADVISORS
Trnstees:
A. E. Mccarville
S. A. Harris
Principal Address:
59 Loampit Vale
London
SE13 7FR
Bankers:
The Royal Bank of Scotland plc
30 Nicolson Street
Edinburgb
EH8 9DL
Butt¢rfi¢ld Bank (Guernsey) Limited
P.0. Box 25
Rcg¢n¢y Court
St Pclcr Port
Guemscy
GYI 3AP
Bri(ishCarAbbean Bank
Gov¢rnm¢nt Road
PO Box 270
Providenciales
Turks & Caicos
Accountants:
HB Accountants
Plumpton House
Plurnplon Road
Hoddesdon
Hertfoidshire
ENII OLB
Solicitors:
Allen & Overy
One New Change
London
EC4M 9(y2
Charltles Registration Number:
1080607

The Cayo Foundation
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The tTUStees present their report alon8 Wlth the financial statements of the Charity and its
subsidiaries for the year ended 30 Scptembcr 2025.
The fJnan¢ial statements have been prepared in accordance with the accounling policies S¢t out
in note I to thc accounts and comply with the charity's trust deed, the Charities Act 2011 And
"Accounting and Reporting by Chariles.. Stalement of Recommended Praclice applicablc to
¢harilie8 prcparing their accounts in accordance with the Financial Reporting Standard
appli¢able in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods
commencing from l January 2016).
Structure. Eovernance and management
The Charity was set up under a trust deed daied 29 November 1999.
The trustees who have served during the year and since the year end are set out on page 2.
Trustees aTe appointed by the board of tmslees. and serve for five years after which period they
may put themselves forward for re-appoinlment. The Iruslees meet quarterly or if necessary on
a more ftqueTht basis to assess grant applications from regisleied charities.
The Chair of the trustees is resEKiThsible for the induction of any new tn￿tees. This involv¢s
awareness of trnstees. responsibilities, the governing document. administrative procedures, the
history and philosophical approach of ihe charity- A new trustee would receive copies of the
previous year's annual report and accounts and a copy of th¢ Charity Commission's guidance
'The Essential Trnstee: What You Need to Know,.
The trustees have assessed the major risks to which the Charity is exposed. in particular those
relating to the operations and finances of ihe Charity, and are satisfied that systems are in place
to mitigate exposure to the major risks.
The trust¢¢s have had due regard to guidance published by the Charity Commission on public
b¢n¢fit.
Objectives and activities
The Charity was established in order to benefit qualified charities as defined in the trust deed.
Its principle activities during the year were supporting other bodies qualifying as ¢harities
under English law.
The Charity considers applications for grdnts and loans from Tegistcred charities in the areas
that the Charity has decided to support based OD Tecommendalions. All applications arc
reviewed against specific criteria sei by the 1Th￿tee5. Where grants are made for specific
purposes the Charity requests a report on how the grant was spent.

The Cayo Foundation
TRUSTEES, ANNUAL REPORT (CONTtNUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Aebievements & Performan¢¢
The Charity's policy has been to give support to other chaTiti¢s. rather ihan directly carrying
out any signifi¢ant activities of its own and this still remains a substantial proportion of the
Charity's expenditure. However. when the charity is approached to fund directly the
expenses of a project. consideration is given by the TNstees as lo wheiher it is worthy of
their support.
During the year. Charitable spending on education projects amounted to £13,180.
Other types of ¢harities that benefited during the year included those involved in the areas of
education. medical research and training. and perfornling at1s charities. The charity also
received requests for donations and financial support to benefit oiher charilies.
Financial review
The general fimd of the Charity represents the fimds that are not subject lo any restriction
regarding their uso and are available for application to the general purposes of the Charity.
Donations amounting to £256.000 were made to 5 charitable organisations.
The designated fund consists of fixd assets which by their nature are not available for use for
the general purposes of the Charity.
Total income for the year amounted £400,469 and after charitable expenditur¢ of £269.180 and
other expenditure of £17,045 ihe nel movement in funds was £114.244 which was added to the
general ￿nd.
The Trustees h&vc dccidcd that funds held in the general fund Should remain on deposit until
such lime as submissions for funding are received from other charities in the areas that
the Charity has decided lo support. These submissions are vetted by the Trustees and if agreed
a donation is made based on ihe level of need and the reserves available for distribution at ihe
time.

The Cayo Foundation
TRUSTEES. ANNUAL REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEvfEMBER 2025
It is the policy of the Charity to maintsin the general fiind, which is the free reserves of the
Charity. at a level which provides sutTicient funds lo cover any expenses and to respond to
grant applications which may arise. Funds were maintained on this basis throughout th¢ year.
Plans for the Future
The trustees intend to continue providing grants in a similar way to the recent past continuing
the emphasis on thc main areas of giving but retaining flexibility as to the timing, and scale of
grant making.
Trustees, Respollsibilities
Under the Charities Act 2011 the trustees are required to prepare financial stateinents for each
finan¢ial ycar whi¢h giv¢ a trnc and fair vi¢w of th¢ statc of affairs of thc Charity as at thc
ba13nce sheet date and of the surplus or deficit for the financial year. In preparing those
financial statements, the trustees are required to.-
Sele¢t suitable a¢¢ounting poli¢i¢$ and then apply them consistently.
Make judgements and estimates that are reasonable and prudent.
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 which disclose with
reasonable accuracy at any time the financial position of tbe Charity and enable them lo ensure
that the financi&l slalemenls comply with the Charities Act 2012. They are also responsible for
safcguarding the asscts of th¢ Charity and hcncc for taking reasonable steps for the prcvcntion
and detection offrhud and other irregularities.
On Behalf of ihe T￿￿teeS
S. A. Ilarris
Date.. IO, June2026

The Cayo Foundation
INDEPENDENT EXAMNER'S REPORT
TO THE TRUSTEES OF THE CAYO FOUNDATION
I report to the charity trustees on my examination of the ac¢ounts of the charity for th¢ year ended
30th September 2025 which aTe set out on pages 7 to 15.
ReSPODSibilitie$ #nd basls of report
As the Charity's tmstees you are resw)nsible lor the preparation of the accounts in ac¢ordance with the
requirements of the Charities Act 2011 ('the Acl,).
I report tn respect of my examination of the charitys #ccounts ¢arri¢d out under s¢clion 145 of the Act
and in caLrying out my examinalion l knv¢ followed all ibe applicable Directions given by thc Charity
Commission wider s¢¢tion 145(5)(b) of the Act.
Independent examlner's statement
I Confirni that l am qualified to undertake the examination because J am a memb¢r of the ICAEW,
which is on¢ of the listed bodies.
I have ¢ompleted my examination. I confirm ihat no mat¢rial Matt￿ have come to my altention in
connection with the examination giving m¢ ¢aus¢ to believe that in any material respecl..
accounting records were not kept in respect of the charity as rcquired by section 130 of the Act.
or
2. the accounts do not accord with Ihos¢ records. or
3. the accounls do not comply with the Applicabl¢ requirements concerning the forni and content of
accounts sel out in the Chariti¢s (Accounts and Reporls) Regulations 2(K18 other than any
requir¢m¢nt that th¢ accounts give a.tn￿ and fair Vie￿ which 15 not a mattcr ¢onsid¢r¢d as part
of an independent examination.
I have no concems and have COTn¢ across no other matters in connection with the examinalion to
which attention should b¢ drawn in this report in order to enable a propcr undcrstanding of the
accounts to b¢ r¢J¢h¢d.
HB Accountants
Chartered Accountants
Plumpton House
Plumpton Road
Hoddcsdon
Hertfordshir¢
ENII OLB
Date

The Cayo Foundation
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEvfEMBER 2025
2025
2024
Unrestricted FuniL%
Generdl
Desi8nated
Unrestricted FU￿jS
Total
Totsl
Genernl
D¢signat
Fwids
Notss
Jncoming Re50ur¢es
Donations
Gift Aid
331.241
4.900
3.723
331.241
4,900
3,723
60,605
426,000
11,750
2,341
54,820
426,000
11,750
2,341
54,820
Interest
Other Income
60.605
4CKI.469
400.469
494.911
494,911
Resources Expended
Charitabl¢¢xp¢nditUT¢
Other expenditure
269.180
269.180
17.045
J63.731
363,731
17.045
22.673
22,673
286.225
286225
386,404
386,404
Surplus (deficit) for the year
114244
114244
108.507
108.507
Net mtsvement in fLmds Total
114.244
114,244
108,507
108,507
Totsl fundsbrought forward
301.502
2.591.288
2.892,790
192.995
2,591,288
2,784.283
Total funds carried forward
415.746
2.591,288
3.IM17.034
301,502
2,591.288
2,892,790

The Cayo Foundation
BALANCE SHEETS
AS AT 30 SEPTEMBER 2025
Notes
Consolidated
Charity
2025
2024
2025
2024
Fixed assets
Tangible assets
Investments
Total fixed assets
2,5(K>,000
91,288
2,591.288
2,500,000
91,288
2,591,288
Current Assets
D¢btors
Cash at bank
Total current assets
32,061
391,864
423,925
44,269
267.534
311,803
11,750
245,814
257.564
370,332
370.332
Liabilities
Creditors.. amounts falling due within one year
8,179
10,301
64,622
26,316
Net current assets
415.746
301.502
305,710
231.248
Total assets less current liabilities
3.007.034
2.892.790
305.712
231,250
Unrestricted funds
General
Designated
10
io
415.746
2,591,288
301.502
2,591.288
305.712
231.250
Total funds
3.007.034
2.892,790
305,712
231.250
The financial staten]ents were approved by the Trnstees on 10 June 2026
S. A. Harris (Truslce)

The Cayo Foundaiion
CONSOLIDATED STATEMENT OF CASHFLOW
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2025
2024
Nel Surplus for the year
114,244
108.507
Net movement in funds
(Decrease) in Credilors
(2,122)
{11,399)
Decrease l (Increase) in debtors
12.208
(18,734)
Net cash outflowlinflow froTn operating activities
124,330
78,374
Cash at bank brought forward
267.534
189,160
Cash at bank at year end
391,864
267,534

The Cayo Foundation
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accounting polities
Charity information
The Cayo Foundation is a Trust. The group CODSiSts of the Trust and its two subsidiarics.
1.1 A¢eountlng eonvention
Th¢ financial statements have been prepared in accordance with the clwity's trust d¢¢d. the
Charities Act 2011 and"Accounting and Reporting by Charities= Statement of RecomTncnded
Practicc appli¢abl¢ to chaTities prepating their accounts in accordance with the Financial
Reporting Standard applicabl¢ in thc UK and Republic of Ireland (FRS 102)" (as amended for
accounting periods ¢omm¢n¢ing from l January 2016). The charity is a Public Benefit Entity
as defined by FRS 102.
The financial statements are prepared in sterling. which is the functional currency of the
charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The
principal accowiting policie$ adopted are set out below.
12 Basi5 ofcons01idation
The consolidated financial statements consist of the financial 51at¢n*nls of the Trust
together with those of the two subsidiaries made up to 30 Scptcmbcr 2025.
IJ Going concern
At ihe time of approving th¢5¢ finan¢i81 $tAtements. the trustees have a reasonable
expectation that the charity has ad¢quat¢ rcsour¢¢s to continue in operalional existence for
the foreseeable future. Thus thc ITUSt¢cs ¢ontinu¢ to adopt th¢ going concern basis of
accounting in preparing the financial slaternenls.
IA Charitabl¢ funds
Unrestrict¢d fvnds ar¢ available for use at the discretion of the tNstees in furtherance of
Iheir charitabl¢ obj¢¢liv¢ unless th¢ fimds have been designated for other purposes.
1.5 Incoming resource5
Income is recognised when the charity is legally entitled to IL
Cash donations are recognised on receipt. Othcr donalions #rc r¢¢ognis¢d once the Charity
has been notified of ihe donation. unless pcr(orniaThcc conditions Tcquir¢ d¢f¢￿al of th¢
amount.
10-

The Cayo Foundation
NOTES TO THE FINANCIAL STATEMENfs (CONTtNUED)
FOR TIIE YEAR ENDED 30 SEPTEMBER 2025
Accounting policies
(Continued)
1.6 Resourees expended
Basic financial liabilili¢s. including creditors and bank loans aTe initially recognis¢d at
transaction pric¢ unl￿S th¢ arrangement constitutes a financing transaction, where the debt
inslNm¢nt is mcasurcd at thc prcscnt valuc of thc fU￿re payments discounted at a mark¢t ratc
of int¢re51. Financial liabilTti¢s ¢1&55ified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the
ordinary course of operations from suppliers. Amounts payable are classified as current
liabilities if payment is due within one year or less. If not. tbey are presented as non-curtent
liabilities. Trade creditors are recognised initially at transaclion price and subsequently
measured at amortised cost using the effective Interest method.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
IJ Financial In$¢ruments
The charity has elected to apply the provisions of Section I I 'Basic Financial Instrnments. and
Section 12 '0ther Financial Instnllnents Issues. of FRS 102 to all of its financial instrument5.
Financial inslNments are recognised in the charity's balance sheet when the charity becomes
party to the contractual provisions of the instnunenl.
Financial assets and liabililics are offsei, with the net amounts presentcd in thc fin8nctal
statements, when ihere is a legally enforceable righi to set off the recognised amounts and there
is an intention to settle on a nei basis or to realise the asset and settle the liability
simultaneously.
Basicfinunclal fj53ets
Basic financial assets. which include debtors and cash and bank balances, are initially
measured at Iransaction price including transaction c051 and are subsequently carried at
amortised cost using the effective interest method unless the arrangement constitutcs a
financing transaction. where the transaction is measured at the present value of the ￿tUre
r¢c¢ipts discounted at a market rdte of interest. Financial assets classified as receivable within
one y¢ar are not amorlised.
Bas¥cfint7ncialliabilities
Basic financial liabilities, including creditors and bank loan5 are initially recognised at
Iransaction price unless the arrangement conslitutes a ftnancing Iransaclion, where the dcbt
instrument is measured at ihe present value of the future paymenls discounted at a market rat¢
of interest. Financial liabilities cla55ified as payable within one year are not amortised.

The Cayo Foundation
NOTES TO THE FINANCIAL STATEMENfs (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1.8 Financial Instruments
(Continued)
Debt instruments are subsequently carried at amortis¢d cost. Using the eff￿tIVe interest
rate method.
Trade creditors are obligations to pay for good5 or scryices ihat h8v¢ bc¢n a¢qutred in
the ordinary course of operations from supplicrs. Amounts payabl¢ are classified #s ciirrent
liabilili¢s if payment is due within one year or less. Jf nol. they are presented as non- curr¢nt
liabiliti¢s. Trade creditors are recognised initially at transaction price and subscqu¢ntly
mca$ur¢d at amortised cost using the effective interest method.
D¢recogMilion offinanciql liabililies
Financial liabilities are derecognised when thc chaTity'5 contractuol obligations ¢xpir¢ or
are discharged or cancelled.
1.9 Foreign Exf bange
Transactions in currencies other than pounds sterling are recordcd at tho ratcs of cxchange
prcyailing at the dates of th¢ transaclions. At each re￿rtIng end date. monetary ass¢ts and
liabilities that ar¢ denominal¢d in foreign currencies are retrdnslated at the rates prevailing on
the reporting end date. Gains and Ioss¢s atising on translation in the period are included in the
consolidated stalement of financial activities.
Crltleal aecounting estimates and judgemellts
In the application of Ihc charity's A¢¢ounling policies. the trnstees are Tequired to
make judgements. estitnate5 and a55Utnptions about the carrying amount of assets and liabilities
that are not readily apparent from other sourc¢s. The rstimates and asso¢iat¢d assumptions are
based on historical experience and other factors that ar¢ consid¢rcd to be tel¢vant. Actual
results may differ from these estimates.
The estimates and underlying assumption5 are reviewed on ￿ ongoing basis. Revisions
to 8¢¢ounting estimates are recognised in the pcri(Kl in which th¢ ¢stim8t¢ ts r¢vis¢d where the
revision affects only that period. or in the period of the rcvision and futur¢ periods where the
revision aff¢rts both current and future periods.
Other Income
2025
2024
Ticket Income
60.605
54,820
Charitable Expendb¢ure
Donations to other ¢harilies
Charitable expenditure
256,(KJQ
13.180
269,180
355,350
8,381
363,731
12-

The Cayo Foundation
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Other Expendithre
2025
2024
Bank charge5
Jndependenl Examination
Mcmbcrs Icvy costs
Currency variances
Other costs
421
1.620
14.836
168
330
1,980
14,764
3,917
1,682
22,673
17.045
Trustee's Emolument$
No trustee received any cmoluments or expens￿ in respect of th¢ir s¢tVi¢¢S AS twstees.
Consolidated Fixed Assets
Long
Le￿￿old
Inve51tncnts
Totsl
At 30 S¢ptember 2024 And 2025
2591288
7b Cbarity Fixed Assets
Investments
Total
At 30 September 2024 and 2025
Debtors
Consolidated
2025
2024
Charity
2025
2024
D¢btors and prepayments
32.061
44,269
11.750
13

The Cayo Foundation
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 30 SEvfEMBER 2025
Creditors due within one year
Con501idaied
Charity
2025
2024
2025
2024
Oth¢r Cr¢ditors
A¢cn)als
6.259
1.920
8.179
8.381
1.920
10.301
62.702
,920
64.622
24.396
1,920
26.316
10 Fund b4lan¢e$ at 30 September 2025
Consolidated
The Charity
Generdl
Fund
Designated
Fund
TotAI
General
FutMI
represented by..
Fixed Assets
Debtors
Cash at bank
Creditors- amounts falling
due within one year
2,591,288
2.591.288
44,269
267.534
32.061
391.864
370.332
(8.179)
(10,301)
(64,622}
415.746
2,591,288
2,892,790
305.712
11 Subsldlary Companles
The Charity has two subsidiaries both of which are wholly owned and registered in
the British Virgin Islands.
Deanland Investmenls L
The Company holds 200/¢b of the issued share capital of Miss World Holdings Limited
a Company registered in England. Deanland's holding in this Company has been
valued at £91,288 and is includcd in fixed asscls.
14-

The Cayo Foundation
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
11 Subsidiary Companies
{Continued)
Chesterlake Investments Ltd
Chesterlake owns a lease on a Box at the Royal Albert Hall. The lease has 840 years to
run. The lease has been valued at £2.5million based on comparable sales of similar
box¢s. The Company receives tickel income and has to pay a memb¢rs levy ¢ach year.
Income from ticket sales for the year ended 30 September 2025 amounted to £60.605
(2024 £54.820).
The results for the year are as follows:
Income
60,605
20,825
39,780
Expenditure
Net income
Fixed Assets
Debtors
Cash ai bank
2,500,(KKI
88.502
21,532
2.610.034
12 Related Party Transactions
There were no related Party Trnnsactions during the year.
15