Company Number: 5028480 Charity number . 1106162 RUWENZORI FOUNDATION {A COMPANY LIMITED BY GUARANTEEI REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31.01.25 Total Solutlons UK Llmlted- Chartered Management Accountants & Buslne55 Consultants Ruwenzori Foundatlon Report and Financlal Statements forthe year ended 315tJanuary 2025 CONTENTS Page Lega l and Administratlve Information Directors, Report Accountants Report Statement of Financial Activltles Balance Sheet Note5 forming part of the Financial Statements Ruwenzori Foundation DIRECTORS, REPORT Legal and administrative Information Status The organisation is a charitable company limited by guarantee Iregistration n um ber 50284801 and registered as a charity (charity number 11061621. Trustees / Directors All Directors are a Iso Trustees. The Directors in office during the year were: Jane Buck CraigJenkin5 Rungwe Kingdon Zuleika Kingdon- appointed 15 February 2024 Claude Koenig Peter M illican Registered Office Principal Offlce 4 Chapel Row Queen Square Bath BAI IHN Unit 9 Chalford Industrial Estate Stroud Gloucestershire GL6 8NT Accountants Bankers TSL Accounting Ltd The Counting House High Street Minchinhampton Glos GL6 9BN Natwest plc Stroud Branch Bank Buildings George Street Stroud GL5 3DT Pooe l of 8 Ruwenzori Foundation DIRECTORS, REPORT Ruwenzori Foundation has had a year mostly of consolidatlon. It has continued to award grants to Rwenzori Fou nders i n Uganda as well as supporting the Ruwen20rl Sculpture Fou ndatlon In its aims of supporting the community around Kyemihoko vlllage and, specifically, the construction of the hospital. Admlnlstrator Cathie Shannon retlred and we have not yet replaced the role, with trustees administering the charitv, A major commission by our principle funder to symbolise the new clinic in Uganda has been part funded by the Foundation. Visits by Trustees Rungwe Kingdon and Claude Koenig to Uganda have been constructive, positive and funds awarded have been allocated appropriately. There are no other major issues to report. Other Events The Trustees are pleased to announce the appointment of Zuleika Kingdon to the Board of Trustees on 15th February 2024, Financial Review Risk Management and Reserves Pollcv Funding to date has come principally from Pangolin Editions and Parabola Foundatlon as well as donations from private individuals and companies. The current level of funds is considered appropriate to flnance the short and medium term objectives of the charity. As the charity continues to grow, the trustees plan to attract donations from other private individuals and companies, as well as public organizations, to secure the charlty's long term future, The trustees confirm that the major risks to which the charity is exposed, as Identified by the trustees, have been reviewed and systems and procedures have been established to manage those rlsks. Financial Instruments The charity holds only basic financial instruments as defined in FRS 102, The financial assets and financlal Ilabilitles of the charlty and their measurement basis are as follows: Financial Assets - trade and other debtors are basic flnanclal instruments a nd are debt instruments measured at amortised costs as detailed in note 8. Cash at bank- is classified as a basic financial instrument and is measu red at face value. Financial liabilities - trade creditors, accruals and other credltors are flna ncial instru ments, and are measured at amortised cost as deta iled in note 9. Taxation and soclal securlty a re not included in the flnancial instruments, disclosu re def inition. P¢we2 OA8 Ruwenzori Foundation DIRECTORS, REPORT Financial Review (contlnued) Financial Actlvltles In 2024-25 our total Income was £98,225. Thls Is down from £893,695 in 2023-24. The directors and trustee5 present the charity's financial statement5 for the financial year ended 31 5t January 2025. The directors are responsible for ensuring that these statements give a true and fair view of the state of the affairs of the charitable company's funds. Approved by the Director5 on 30 September 2025 Run8we Kingdon Page3of 8 Ruwenzori Foundation INOEPENOENT EXAMINER'S REPORT TO THE TRUSTEESIDIRECTQRS OF RUWENZORI KJUNDA710N I report on the accounts for the year ended 31 January 2025 set out on page5 4 to 7. riespectlve responslbllltles of dir4rtors trustees ond ex•mlner The charlty's trustees (who are also the directors for the purposes of company lawl are responslble for the preparation of thè accounts. The charity's trustees considèr that an audlt Is not requlred for this year (under section 144121 of the Charltie5 Act 2011 (the 2011 Act)) and that an Independent examlnatlon Is requlred. Havlng satisfied rnyself that the charity Is not subjert to audlt under company law and 15 eligible for independent examination, It is my responsibility to: examlne the accounts under sectlon 145 of the 2011 Act to follow the procedures lald down in the General Dlrectlons glven by the Charlty Comrn5sslon (under section 1451511bl of the 2011 Act), and to state whether partlcular matters have cometo my attentlon. B•sts of Independent •x•mlnerfs report My examinatlon was Carrled out in accordance wlth General Dlrertlons given by the Charlty Commission. An examlnatlon Include5 a review of the accounting records kept by the charlty and a comparlson of the a¢counts presented wlth those records. It also includes conslderètion of any unusual Items or disclosures In the accounts. and seeklng explanatlons from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be requlred in an audlt, and consequently no oplnlon Is given as to whether the accounts present a 'true and falrf view and the report Is Ilmlted to those matters set out In the statement below. Independent examln•rfs st•t•rn•nt In connection wlth my examination. no matter has come to my attention: which gives me reasonable cause to belleve that In, any materlal respert, the requlrements: to keep accountlng records In accordance with Section 386 and 387 of the Companles Act 2￿6, and to prepare accounts which accord wlth the accounting records and comply wlth the accountlng requlrement5 of Sectlons 394 and 395 of the Companies Act 2005 and with the methods and principles of the Accountlng and Reportln8 by Charltie5: Statement of Recommended Practice applicable to charlties preparing their accounts In actordance w￿h the Flnanelal Reportlng Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective l January 20151 have not been met; or to which. In my opinion, attentlon should be drawn In order to enable a proper understandlng of the account to be reached. ro/rf202 Icolm Robinion Flnon¢lalConstsltont Hoywafds Heath Pale 4of 8 Ruwenzorl Foundatlon Statement of Financial Activities including Income and Expenditure Account for the year ended 31" January 2025 Note5 Unrestrlcted Funds 2025 Restrirted Funds 2025 Total Funds 2025 Total Funds 2024 Income and endowments from Donatlons and legacies 87,749 87,749 887,275 Investment income 10,476 10,476 6,420 Totsl 98,225 98.225 893,695 Expenditure on Charitable Actlvltles 166,585 166,585 169,085 Other 54,288 54,288 29,404 Total 220,873 220,873 198,489 Net Income {122,6481 (122,6481 695,206 Reconclllatlon of funds Total funds brought forward 1,359,771 190,153 1,549,924 854,718 Total funds carrled fonvard 1,237,123 190,153 1,427,276 1,549,924 Continulng Operatlons All income and expenditure has arisen from continulng actlvitie5. The nores on paoes 7 to 8 form portof thesefinonciolstoteménts PageSof8 Ruwenzori Foundatlon Balance Sheet as at 315t January 2025 Notes Unrestrlcted Restricted Total 2025 2024 Current Assets Bank Account Other Debtors 592,454 644 957 1,237,411 592,454 835 110 1,427,564 841,303 718 140 1,559,443 190 153 190,153 Creditors: Trade Creditors Other Creditors 288 288 7,678 288 288 9,519 Net Current Assets 1,237,123 190,153 1,427,276 1.549,924 Total Assets less Current Llabllltles 1,237,123 190,153 1,427,276 1,549,924 Net Assets 1237 123 19 1427 276 Total Funds io The Trusrees consider that the charitable company Is entltled to exemptlon from the requlrement to h3ve an 3udlt under the provislons of Section 477 of the Companies Act 2006 I'the Act") and members have not required the cornpany to obtain an audit of its financla statements for the year in question In accordance wlth settson 476 of the Act. The Trustees acknowledge thelr responsibilltles for ensuring that the company keeps accountln8 records whlch comply wlth section 386 and 387 01 the Act and for preparln8 linanclal statements which give a true and lair view ol the state of affairs of the company as at 31" lonuary 2024 and of its profit lor the year then ended In accordance wlth the requirernent5 01 section 394 and 395 of the Aci and whlch otherwise cotnply wlth the requirernents of the Cornp3nies Act 2006 relating to the financlal statements so lar as appllcable to the charitable company. The financial statements were approved and authorised for issue by the Board of Trustee5 and were signed on its behalf on 30, September 2025. Rungwe Kingdon Director The notes on poges 7 to 8 form pGrt of theseflnonclolsiJtE ents Pa8e6of8 Ruwenzori Foundation Notes to the Financial Statements Accounting pollcles Basis of Accountlng: The flnancial statèments have been prepared in accordance with the Charitles SORP IFRS 1021 Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charlties preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 leffectlve I january 20191, the Financlal Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Ruwenzori Foundation meets the deflnitlon of a public benefit entlty under FFIS 102. Assets and Ilabllitles are initially recogni5ed at historlcal cost or transaction value unless Otherwise stated in the relevant accountlng policy. In¢oming resources All income is re¢ognlsed in the Statement of Flnancial Activitie5 once the charity has entitlement to the funds, tt Is probable that the income will be received, and the amount can be measured reliably. Expendlture Liabilities are recognised as expendlture as 500n as there Is a legal or constructive obllgation tommitting the ¢harity to that expenditure, it is probable that a transfer of economSc benefits will be required In settlement and the amount ol the obligation can be measured rellably. Expenditure Ss accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to actlvities on a basis consistent with the Use of resource5. Taxatlon The Charity is exempt from corporation tax on Its charitable activltles. Fund accountlng Unre5trlcted fund5 dan be used in accordance with the charitable objectlves at the d15cretlon of the tru5tee5. Restricted funds can only be used for particular restricted purposes wlthln the objects of thè charity. Restrictions arlse when 5peclfied by the donor gr when funds are ralsed for particular restricted purposes. Further explanation of the nature and purpose of each fund 15 included in the notes to the financial statements. Donations and LeBacies Recelved in the Year Unrestrlcted Restrlcted 2025 2024 Vlctim Charlty Parabola Foundation Pangolin Editions Other Donatlon5 Total 24,000 10,313 24,0(Kl 10,313 53 87,749 36,000 48,750 87,749 887,275 Investment Income The investment income arises from bank interest and gift aid interest. Analysls of charltable expenditure Unrestritted Restrlcted 2025 2024 RSF Uganda (Project) Rwenzori Founders Ltd (Ugandal R5F Uganda Project Hospital Costs assoclated with donations Artists Resldenees 28,722 96,266 10,702 740 28,722 96.266 10,702 740 21,130 130,987 13,020 Total 166,585 166.585 169,085 Page7of8 Ruwenzori Foundation Notes to the Financlal Statements Analysis of other expendlture lall unrestrittedl 2025 2024 Admln wages and cost5 Office utllltles, website and sundrles Fundrai51ng and publicity costs Legal and professlonal fees Bank charges 36,086 4,680 6,635 6,717 170 21,125 1,987 6,169 123 Total 54,288 29,404 Trustees. Remuneration and beneflts The trustees received no remuneratlon for the year ended 31st January 2025 nor the year ended 315t 3anuary 2024. The trustees are relmbursed for any travel expenses Incurred on behalf of the charity. Employees The charlty had seven employees durlng the year171n 20241. No employee received emoluments In excess of £60,000. Debtors Unrestrlcted Restricted 2025 2024 Glft Ald Tax Credlt Other Debtors 2,063 2.063 833 047 835,110 9,750 708 718,140 64 644,957 190 153 190,IS3 Credltors Unrestrlrted Restrlcted 2024 2024 C￿dItors.. Under l Year Trade Creditors Other Creditors and Accruals 288 288 7,678 288 288 9,519 io. Funds Unrestrlcted Restrlcted 2024 2024 Funds 8rought forward at l Februarv Ineoming resources Outgoing resources Total Funds carrled forward at 31 January 1,359,771 98,225 22 1,237,123 190,153 1,549,924 98,225 220 873 1,427,276 854,718 893,695 198 489 1,549,924 190,153 ii. Related Party Dlsclosures C Jenklns, a trustee, Is also Director at a firm of accountants. The total amount Involced by TSL Accountlng Ltd during the year was £8,93212024: £21,886). The transactlons were at a commerci81 rate at arm's length and £287.20 remained outstandlng at the year end12024'. £1,S19.081. Pa8e8of8