Ennismore Foundation Registered Charity number. 1082122 Unaudlted Flnan¢ial Statements for the year ended 31st December 2024 Wenn Townsend Chartered Accountants Oxford
Ennismore Foundation Legal and administration inf0MtIOn Trustees: W G Oldfield (Founding Trustee) H Orange E Parry Principal address.. Kensington Cloisters 5 Kensington Church Street London W8 4LD Bankers: HSBC Bank plc 25 Notting Hill Gate London W113JJ Accountants: Wenn Townsend Chartered Accountants 30 St Giles Oxford OX13LE Investment managern.. Ennismore Fund Managemènt Limited Kensington Cloisters 5 Kensington Church Street London W8 4LD
Ennismore Foundation Report of the Trnstees for the year ended 31st December 2024 Constitutron and objects for the Public Benefit The Ennismore Foundation fthe Foundation.) is constttuted urKler a Tnjst deed dated 4th May 2000, as amended on 14th November 2011. The Foundation was registered on 22nd August 2000 under Registered Charity number 1082122. The objects of the Foundation are that the Trustees shall hold the Trust fund and its income upon trust to apply them for such charitable purposes as the Trustees in their absolute discretion from time to time think fit. The Trustees confirm that they have had due regard to the Charity Commission's guidano on public benefit in exercising their powers and duties. Flnancial revlew and Achievements and Perft)rniance During 2024, the Trustees aimed to further increase the capltal base of the Foundation through th8 Investment of its reserves whilst making a number of grants to other chartties. The funds of the Foundation decreased to £12,794,897 (2023= £13,711,070) at the year-end as a result of the decrease in value of the investrnent porffolio and grants and donations made exceeding donations re¢eived. During the year, the Foundation made total grants and donations of £606.750 (2022: £527,723). Investment pollcy The investment policy is reviewed annually by the Trustees. The trustees are investing the Foundation's reseNes in a limited number of collective investment Schemes with the objective of furth8r incr8asing the eXpendale endowment funds. Re80rv8$ policy The Trustees wish to estsbltsh sufficient funds to enable the Foundation to generate income and investment gains lo provide meaningful grants in the long tem. Maintaining an amount of at least £250,000 in bank accounts and readily realisable investments is considèred adequate to cover the current plans and commitments. Structurei govemance and management The Trustees are appointed by the Founder Trustee, until the death of the last of the Founder Trustees. Thereafter the power of appointing a new or additional trustee shall be vested in the Trustees. The Trust Deed (as amended) provides for a minimum of two Trustees. one of which should be a Founder Trustee, until the death of the last of the Founder Trustees. At the semi-annual Trustees. meeting. the Twstees agree the broad strategy and areas of activity for the Trust, including consideration of grant making. investment. reserves and risk management policies and performance. The induction process for any newty-appointed Trustee comprises an initial meets'ng with the Founder Trustee. The following subjects are dealt with.. investment policy, grant making process, powers and responsibilities of the Trust8e Board. A Copy of the goveming Trust Deed is also given. Principal Risks and Uncertalntles The Foundation is dependent upon Ennismore Fund Management Limited fEnnismore') as the source of donations received and, consequently, its future income is dependent upon the financial position of that company and the willingness of the company to make further donations. The Foundalion's serveS are invested in shares in colledive investment schemes which invest primarily in equity securities. The value of Ihese investmenls fluctuales and may fall in value resulting in a reduction in the Foundation's reserves.
Ennismore Foundation Report of the Trustees for the year ended 31st December 2024 Icontinued) Plans for the future The Ennismore Foundation will continue to focus on growing its assets. In the short to medium tem. a number of donations to other charities will continue to be made each year but at a scale which should not significantly affect the Foundation's assets. Trustees The Trustees in the year and Sin the year end are as follows: W G Oldfield C Claxton E Parry H Orange (resigned 4th September 2025) (appointed 4th September 2025) The trustees a also the key management personnel. They receive no remuneration. Trustees, responslbilitles ststsment The trust88s are sponSible for preparing the Trustees, Annual Report and the financial ststements in accordance with applicable law and United Kingdom AcUntIng Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for 8ach financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resourtss ofthe Foundation for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting po5iries 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 malerial departures dis¢losed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation 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 Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) regulations and the provisions of Ihe trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartiies. The trustees are responsible for the maintenance and integiify of the Foundation and financial infomiatlon Included on the Foundation's website. Legislation in the United Kingdom governing the preparation and dissemination of financial stalements may differ from legislats'on in otherjurisdictions. Approved by the Trustees and signed on thelr behalf by: WGO 23,. ...0.cl0f . 2025
Ennismore Foundation Independent Examinerfs Report to the Trustees of Ennismore Foundatlon I report on the accounts of the Foundation for the year ended 31 st December 2024 which are set out on page 4t011. Responsibilities and basis of report As the charity's tnjstees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinevs statement I have compleled my examination. I confim that no material matters have ¢ome to my attention in connection wilh Ihe examination giving me cause to believe that in any material respect: accounting records were not kept in respecl of the chartty as required by section 130 of the Act; or the accounls do not a¢cord with those records.. or the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (A¢¢ounts and Reports) Regulations 2008 other than any r8quir8ment that the accounls give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Andrew Rodzynski FCA Partner Wenn Townsend Chartered Accountsnts Oxford . 2025
Ennismore Foundation statement of Financial Activities for the year ended 31st December 2024 Expendable endowment funds Note 2024 2023 Income and Endowments Donations 117.570 116,600 Total income 117.570 116,600 Expendituro Charitable oxpèndlture Grants and donations Other 606.750 2.140 527,723 2.009 Total expenditure 608.890 529,732 Net In¢omel{expendtturo) before galns and losses on investments (491.320) (413,132) Unrealised gains on investments Realised gains on investments Exchange (loss)Igain on investments (283,079) (82,974) (58,800) 559,049 (25,050) {37,884) Net movement In funds (916.173) 82,983 Total funds at 1 st January 2024 13,711,070 13,628,087 Total fijnds at 31st December 2024 10 12,794,897 13,711,070 The notes on pages 6 to 12 forni part of these accounts.
Ennismore Foundation Balance Sheet as at 31st December 2024 Note 2024 2023 Fixed assets Investments 12.225.329 13.630,182 Current assets D8btors Cash at bank 981,700 23,568 116,256 6,257 1.005,268 122,513 Liabilitios: amounts falling due within one year (435,71)0) {41,625) Net Current assets 569,568 80,888 Total a88ets less current liabllities 12,794,897 13.711.070 Net assets 12,794,897 13.711,070 Expendable endowment funds 10 12,794,897 13,711,070 Approved by the Trustees on . .13, OCtob£r . 2025 and slgned on thelr behalf by: Trus G Oldfield The notes on pages 6 to 12 fomi part of these accounts.
Ennismore Foundation Notes to the accounts For the year ended 31st December 2024 Accounting policies al Basis of prepardtion The Ennismore Foundation is a charity registered in England and Wales. The Foundation 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 harities preparing Iheir accounts in accordan with the Financial Reporting Standard applicable in tha UK and Republic of Ireland (FRS 102) issued in October 2019. the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted A¢¢ounting Praclice. Items are renised at cost or transadion value unless otherwis8 Stated in the relevant note to the accounts. The trustees consider that there are no material uncertainties about the Foundation's ability to continue as a going concern. The financial statements are prepared in pounds sterling which is the functional curr8ncy of the Foundation. The signtficant accounting policies applied in the preparation of these financial statements are set out below. These policies have been appli8d to all years presented unless otherwise ststed. bl Fund structure The Foundation has a single expendable endowment fund ueat8d for such charitable purpose as the Truslees in their absolute dISction from time to time think fft. c) Expendlture All invoices to the Foundation are paid by Ennismore. Expenditure is recognised as soon as there is a legal or constructNe obligation committing the Foundation to the expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliabty. IeCOverable VAT is Charged as an expense against the a¢tivty to which expenditure arose. d) Fixed asset investments Investments are included at fair value at the balance sheet date. Any gain or loss on revaluation or on foreign exchange is taken to the Statement of Financial Activities. e) Income Income is recognised once the Foundation has entitlement to the resources. it is probable Ihat the resour$ will be received and the monetary value of income can be measured wtth sufficient r81iabilty. Fornlgn currencles Monetary assets and liabilities denominated in foreign currencies are translated into sterting at the rates of exchange prevailing at the accounting date. Transactions in foreign Ujen¢1es are recorded at the date of the transactions. All dIfferenS are taken to the statement of financial acttvities.
Ennismore Foundation Notes to the accounts (continued) For the year ended 31st December 2024 Investments 2024 2023 Market value at 1st January 2024 13,630,182 13,134,067 Additions in the year 1.190,351 Disposals in the year (980,000) (1,190.351) Increase in market value in the year (283,079) 559,049 Reallsed gainsl(losses) in the year (82.974) (25,050) (Loss)Igain on foreign exchange (58.800) (37,884) Market Value at 31st December 2024 12,225,329 13,630,182 Historical cost at 31st December 2024 5,826,012 6,148,757
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Ennismore Foundation Notss to the accounts (continued} For the year ended 31st December 2024 Grants and donations 2024 2023 Grants and donations indude the following: Boys in Mind Bradford Central Foodbank British Friends of Sheba Medical Centre Bumblebee Conservation Trust Cancer Research UK Centrepoint CHAS Chets in School CICRA Compassion in World Farming Crisis Darby Rimmer MND Foundation Doctors WIthoLrt Borders Dogs Aid Animal Sanctuary Dogs Trust Environmental Funders Network Feedback Global Frfe Gingerbread Food Ethics Council Friends of John Ball Association Gaia Foundation Give a Book Greener and Cleaner Hackney Playbus Hawk Conservatory Holy Trinity Clapham Internet Archive Kerry Hospi Foundation Knowsley Foodbank L'Afrikana I COHERE Made in Hackney Malala Fund Nature Friendly Famiing Network (NFFN) One in Four Palesline Children's Relief Fund Plan International UK Pro Veg UK Rainforest Trust UK Refuge Romford Autistic Group Support SANE Save th8 Children School of Hard Knocks Shivtei Yisrael 1,000 5,000 11,000 1,000 2,750 2,000 1,000 40,000 32,000 1,000 1,000 1,000 1,000 1,000 11,000 11,000 1,000 20,000 5,000 70,000 1,000 5,000 250 32,000 2,000 20,000 1,000 11,000 1,000 11,000 1,000 1,000 32,000 21,000 2,000 1,000 1,000 2,000 92,000 1,000 1,000 21,000 87,500 1,000 21,000 1.000 1,000 1,000 46,000 1,000 20,000 41,000 1,000 10,000 2,820
Ennismore Foundation Notes to the accounts (continued) For the year ended 31st December 2024 Grdnts and donations (Continued) 2024 2023 Snow Camp Charity Southwold Parochial Church Coun¢il Sue Ryder Manorlands Hospice The Big Give Trust The Bike Projecl The Chundukwa Foundation The Funding NeOrk The Hawk Conseryancy Trust The Inspiration Orchestra The King's Trust The Orchid Project Tikva UK Unicef UK University College London Hospitals Chartty We Are Grow 1,000 1,000 1,000 42.000 10,000 10,000 31.150 40,000 63,100 11,000 1.000 100,000 50,000 40,000 11.000 2,000 100 6,000 803 606,750 527,723 The purposes of the three largest grants above are: The King's Trust The Ennismore Foundation has supported Ihe King's Trust for many years and is now in the second year of funding its focused response to the green challenge for young people. This year, funding is helping to deliver 'Get ready. programmes in green construdion, retrofitting. ecoThrenovation and renewable energy. Nature Frlendly Farniing Network (NFFN) The Ennisrnore Foundation continues to fund Nature Friendty Farming Network (NFFNI specifically in Scolland to fund the post of a sustainable faming officer. More broadly. NFFN work, both on policy and advocacy, to promote the nature friendty policies necessary to transition famiing in the UK to be resilient in the face of climate change. This is alongside running a farmer to farmer knowledge 8xchange programme supporting farmers in their transition to nature friendly ways of famiing. Proveg UK The Ennismore Foundation is funding Proveg UK to grow the Canteen to Classroom project that We fvnded as a fledgling project last year. The second phase of this project moves away from the planning and resource creation phase to marketing and promotion and getting the lessons into classrooms across the county. Govemance costs 2024 2023 Independent Examiners l Auditovs remuneration 1,700 1,625 10-
Ennismore Foundation Notss to the accounts Icontinuedl For the year ended 31st December 2024 Debtors Accrued in¢ome Other debtors 1,700 980,000 116,256 981,700 116,256 Other debtors relales to amounts receivable on disposal of financial investments. These amounts were received by the Foundation on 2nd January 2025. Llablllties: amounts due within one year 2024 2023 Accruals Grant commitments (see note n Amounts due to Ennismore (see note 9) 1,700 274,500 159,500 1,625 40,000 435,700 41,625 Grant commltrnents Payable In yèar Committed to at 01.01.24 Approved Paldlamended In year In year Commltted to at 31.12.24 Deferred 2024 2025 40,000 8[.750 (372,250) (274,500> 274,500 274,500 40,000 6C6.750 (372,250) 274,500 Trustees remuneratlon No remuneration was paid or expenses reimbursed to or waived by the Trustees during the currenl or preceding year. 11
Ennismore Foundation Notss to the accounts {continued) For the year ended 31st December 2024 Related party transactions Two of the trustees of the Foundation were also directors of Ennismore, one throughout the year and the other until 22nd November 2024. During the year, Ennismore donated £117.570 to the Foundation (2023". £116,600). At the year end. the Foundation has amounts due to Ennismore of £159,500 <2023: £nil) which represent advances on expeed future donations. The Foundation holds investments in fiinds managed by Ennismore. These investments are on the same temis as apply to other investors in these funds. 10. Funds The expendable endowment fund represents those assets whith may be held to provide increases in market value. The fund may be spent at the discretion of the Trustees. 12-