REGISTERED CHARITY NUMBER: 1111022
Report of theTrn8teo8 and
FlnaneiAI Statements for the Year Ended 5 April 2024
for
The Buffini Chao Foundation

The Buffini Chao Foundation
Contents of the FinAncial Statements
for the Year Ended 5 April 2024
Page
Report of the Trustees
I to 4
Report of the Indepelldent Audito
Statement of FlllanciAI Aetivities
Balance Sheet
Cash Flow Statement
io
Notes to the FinaneiAI StAtements
11 to 20

The Buffillll Chao Foundation
Report of the Trustees
for the Year Ended 5 April 2024
The tswstees present their report with the finan¢ial statements of the charity for the year ended 5 April 2024. The trustees
have adopted the provisions of Accounting and Repy)rting by Charities.. Statem¢nt of Recommended Pradice applicable
to Charities preparing their accounts in aeeordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective l January 2019).
ORJECTIVES AND ACTIVITIES
Objectives and aim$
The eharities supported by the Foundation continu¢ to be those that create learning opportunities for young people from
disadvantaged b￿kgrOUndS. Those opportunities are created through education, the arts. sport or simply experiencing
the outdoors; the aim is to provide those young peopl¢ wtth self-confiden¢e and purpose so that they can fvlfil their
potential and well-being.
The Trustees have noted that several charities supported are increasingly providing
skill-based traininglwork experience (including an innovative creative training programme run at H￿[ply0I Isis in South
East London). Skill based training/work experience is particularly relevant in the creative ajtslperfonning sector where
there is an incre&sing skills shortage and is a sector which plays an important and signifi&￿t part in the UK economy.
The Foundation has been pleased to provide support for this fmancial year in th¢ totsl amount of £835,710 spread at
different levels across a total of 21 charities:
¢ad
First Give
tnto University
Kent Academies Network
Springboard Foundation
Young Enterprise
ervention:
ention throu
English National Ballet
Headlong Theatre Limited.
Music Masters
National Theatre's Conneclions, New Views and Lets Play programmes
Quentin Blake Centr¢ for Illustration
Royal Academy of Dance
Royal Ballet School
Uni¢orn Theatre
Untold Creative Trainlng Prowmes in HMPIYOI Isis in Southeast London
World Heart Beat Music Academy
dance and d
Intervention throu
ort:
Football Beyond Border5
' hmentlcom
environme
Children Today Charitabl¢ Tnjst
Community Foundation for Surrey
Royal Botanical Gardens, Kew
Soil Association
Young V & A.
For more inforniation on charities being pr¢sently supported, refer to the website Nwww.buffini¢hao.com
Publi¢ benefit
The trustees eonfirn) that they have considered the guidance contained in the Charity Commission's general guidance on
public benefit when setting the grant making policy for the year. Th¢ trust complies with its publi¢ benefit
responsibilities by making grants to charitable instithtions large and small in support of its stated objectives and aims
and where the thjstees Can follow up and get a feel for effect the grant has had.
Page I

The Buffini Chao Foundation
Report of the Trustees
for the Year Ended S April 2024
OBJEcrtVES A￿D ACTIVITIES
Grant making
The tnjstees made to institutions in the year omounting to £835,710 (2023.. £641,510). A detailed breakdown of
the ￿ants paid are included in the notes to the financial statements.
ACHIEVEMENT AND PERFORMANCE
Charitable aetivities
The charity is proactive in making grants to worthy causes.
Fulldraising activities
The trust is thnded principally by gifts from the friunder. Additionally in¢ome generated from investing the fund5 a
used to further the charlty's objectives.
FINANCIAL REVIEW
Principal funding sources
The principal source of ￿ndS is investsnent incorne generated from the ttwvs Substantial investment bas¢ 2nd gifts from
the trustees.
Investment policy and objeetives
The charity's tnvestment managers are Schroders and Co Ltd and they ar¢ instrncted to manage the long-tern] assets of
the charity through diversified global multi - asset portfolios with an increasing focus on'sustainability,.
The trustees revtew their investment strategy annually and this is reflected in the Trustee Investment Policy Statement
agreed with the managers. In order to maintain a pntdent and responsible investment policy and in view of the volatility
in the investment markets the charity keeps cash reserves sufficient to cover ￿a￿t-MakIng for a period of at least six
months.
Reserves policy
The trusfres balance grants paid with inveslm¢nt income generated and to maintain the capital base to generate a 5te8dy
income stream. Applications for grants are considered on a regular basis and the tnjstees decide on awards where th¢
rileria meet the objertives of the Irust. The trustee's assessment of required reserves hag remained £10,000,000 during
the year under review, &s grants made continu¢ to exceed inveslment income and this will continue to be reassessed on a
regular basis.
At ihe end of the year the trusls liquid assets had fallen to £303,682. Quoted investtnents with a market value of
£13270,622 were held at the balance sheet date.
FUTURE PLANS
The trustees intend to maintain the current level of fijnding to fulfil the charity's mission and objectives. The Gharity will
review wt applications at their quarterly tNstee meeting and decide which organisations to support.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing documen¢ a deed of trust and constitutes an unincorpornted charity.
The Trust is an unincorpordted trusL constituted under a trnst deed dated I l May 2005 and is a registered charity. The
Charitable t￿st which was established by an initial gift from Sir D. M. Buff￿1 has as its objectives for such charitable
purposes as the trnstees in their absolute discretion think fit.
Recruitment and appointment of new trustees
Lady Buffmi and Sir D M Buffini are trnstees for life.
Mrs M G Hindmarsh and S J Gutierrez were reappointed on 23 April 2021 for a further 4 years.
Mrs Karen Platt appointed on 5 De¢¢mber 2022 for a tenn of 4 years.
Trustees will be appointed by the existing ttustees and retiring trustees maybe re-elected.
Page 2

The Buffini Chao Foundation
Report of the Trustees
for the Year Ended 5 April 21)24
srRucfuRE, GOVERNANCE AND I￿AGEMENT
Organisational strueture
The Irust is managed by the trustees who meet regularly to agree the consid¢ration of grant making, investment, reserves
and risk management policies and perfomiance.
Induetion and training of new trustees
The induction process for any newly appointed trustee comprises an initial meeting with all existing trustees. In addition
the appointed trustee will be provided with a copy of the Charity's Commission guidance The Essential Trustee.. What
you need to know,, a copy of the Charity's tsust deed and a copy of the latest aTwual report and ac¢ounts.
Risk management
The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and
established systems and proCedU￿S to manage those risks. The tn￿te¢S consider the variability of investhient ￿tUrnS on
the endowment fund to constitute the ch￿ity's major risk
REFERENCE AND ADMINIST114TIVE DETAILS
Registered Charity number
III1022
Principal Address
PO Box 1427
Northampton
NNI 9FP
Trustees
SirD M Buffmi
Lady Buffini
Mrs M G Hindmarsh
Mrs S J Gutierrez
Mrs K Platt
Auditon
Ward Williams
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
Investment Advisers
S¢hroder & Co. Limited
l London Wall Place
LK)ndon EC2Y SAU
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are r¢sponsible for preparing the Report of ihe Trustees and the fmancial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
including Financial Reporting Stand8rd 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland"
Page 3

The Bufflnl Chao Foundatlon
Report of the Trustees
for the Year Ended S April 2024
STATEMENT OF TRUSTEES, RESPONSIBILITXES- ¢on¢lnued
The law applicable lo charities in England and Wales. the Charities Act 2011. Charity (A￿o￿nts and Reports)
Regulations 2008 and the provisions of the twst deed requires the trnslees to prepare financial statements for each
financial year which give 8 true and fair view of the state of affairs of the ¢harity and of the incoming resources and
application of resources, inoluding the ineome and ¢xpenditur¢, of the charity for thal period. In preparing those
financial stslem¢nts, the tsustees are required to
select suitable accounting policies 2nd then apply them consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prud¢nL
slate wheth¢r applicable accounting standards hav¢ been followed. subject to any material departures disclosed and
explained in th¢ fuydncial statements.
prepare th¢ financial statements on the going Concern basis unless it is inappropriate lo presume that the ¢harity will
continue in busin¢ss.
The trustees are r¢sponsibl¢ for keeping proper accounting records which disclose with reasonable accuracy at any time
the fm&ncial position of the charity and lo enable them to ensure that the financial ststements ¢omply with the Charities
Act 2011, the Charity (Accounts &nd Reports) Regulations 2008 and the pn)visions of the ttvst deed. They are also
responsible for safeguarding the assets of the ch￿lty alld hence for taking reasonable steps for the prevention and
detection of fraud alld other irregularities.
Approved by order of th¢ board of ttiJst¢es on ..
. md Si￿ed on its behalf by..
Lady Buffini- Trustee
Page 4

Report of tbe Independent Auditors to the Trustee5 of
The Buffini Cbao Foulldation
Opinion
We have audited the financial statements of The Buffini Chao Foundation (the 'charity') for the year ended 5 April 2024
which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the
financial ststements, including a summary of significant accounting policies. The finan¢ial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland,.
In our opinion the financial statements:
give a true and fair view of ihe state of the ¢h2rity's affairs as at 5 April 2024 and of its incoming resources and
application of resources, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,.
have been prepared in accordance with the requirements of the Ch￿itieS Act 2011,
Basis for opinion
We conducted our audit in accordance with InternationaI Standards on Auditing (UK) (ISAS (UK)) and appli¢able law.
Our responsibilities under those standards are thrther described in the Auditors, responsibilities for the audit of the
financial statements section of our report. We are independent of the charity in ac¢ordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, in¢luding the FRCS Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basts for our opinion.
Collclusions relating to goillg concern
In auditing the fmancial statements, we have concluded that the trustees, use of the going ¢on¢¢rn b&8is of accounting in
the preparation of the fmancial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions
thaL individually or collectively, may cast $i￿1ficant doubt on the charity's ability to continue as a going concem for a
period of at least twelve months from when the financtal statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with r¢spe¢t to going concern are described in the relevant
sections of this report.
Other illfonnAtiOD
The trnstees are ￿SponSible for the other information. The other infomlation comprises the infonnation included in the
Annual Repo￿ other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the finallc1￿ statements does not cover the other infonnation and. except to the extent otherwise
explicitly stated in our report, we do not express any fomi of assurance Conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other inforniation and. in doing
so, consider whether the oth¢r infomiation is materially inconsistent with the fmancial ststements or our knowledge
obtsined in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have perfotThed, we conclude that there is a material
misstatement of this other inforniation, w¢ are required to report that fact. We have nothing tr) report in this regard.
Matters on wbich we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations
2008 requires us to report to you if, in our opinion:
the inforniation giv¢n in the Report of the Trt￿te¢s is inconsistent in any material respect with the financial
ststements. or
sufficient accounting records hav¢ not been kept. or
the financial sL2tements are not in agreement with the accounting re¢ords and return5; or
we have not received all the inforniation and explanations we require for our audit.
Page 5

Report of the Independent Auditors ¢0 the Trustees ol
Tbe Buffini Chao Found#tioll
R&sponsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trnstees are responsible for Éhe preparation of
the fmancial statements which give a ttue and fair vi¢w, and for such internal control &8 the tn￿leeS detennine is
necessary to enable the preparation of financial statements that are free from material misstatemenL whether due to fraud
or e￿or.
In preparing the financial statements, the tn￿tee$ are responsibl¢ for assessing Ihe Charity's ability to continue as a going
concern, disclosing, &8 applicable, matters related to going concern and using the going ¢oncern basis of accounting
unless the tnjstees either intend to liquidate the charity or to ¢e&se operations. or have no realisti¢ alternative but to do
Our responsibilitie$ for the audit of the fillaneial statsmellts
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain re￿onable assurance about wheth¢r the financial statements as a whole are free from
material misstaternent. whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable &ssurdnce is a high level of assurance, but is not a guarantee that an audit Conducted in accordance
with ISAS (UK) will always detect a material mi5ststement when it exists. Misstatements can ￿]se fiDm fraud or error
and are Considered material if. individually or in the aggregate, they could reasonably be expected to influence the
economic de¢isions of users taken on the basis of these fmancial statements.
The extent to which our procedures are ￿Pable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks appIl￿ble to the charity and the sector in which
they operat¢. We detennined that the following were most significant: the Charities A¢t 2011.
- We obtsined an understanding of how the ¢harity is complying with those legal and regulatory frameworks by making
Inquiries of the management of the charity. We wm)borated our inquiries thmugh our r¢view of cotTespond¢n¢e during
our audit work.
- We &8sessed the sus¢eptibility of the charity's fmancial statements to material misstatement. including how fraud
might occur. Audit procedures perfornied included:
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud.
- understanding how those charged with governance considered and addressed the potential for override of controls or
other inappropriate influence over the financial reporting process.
- challenging assumptions and judgements made by management in its significant accounting estimates.
- identifying and testing journal entries, in particular any joumal entries p)sted with unusual a¢count combinations. and
Because of the inherent limitations of an audiL there is a risk that we will not detect all l￿egUlarlties, including those
leading to a material misstatement in the financial statements or non-compliarA¢e with regulation. This risk increases the
more that complian¢e with a law or regulation is removed from the events and transadions reflected in the financial
statements, &8 we will be less likely to become aware of instances of non-compliance. The risk ts also greater regarding
irregularities o¢¢urring due to fraud rather than eTror, as fraud involves intentional concealmenL forgery, ¢ollusion,
omission or misrepresentation.
A fi]rther description of our responsibilities for th¢ audit of the financial statements is located on the Finan¢ial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description fornis part of our Report of the
Independent Auditors.
Page 6

Report of the Independent AuditOfS to the Trustees of
Tbe Buffini Chao Foundatioll
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (A¢¢ounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the charity's tswtees those
matters we are required to state to them in an auditors, report and for no other purpose. To the ￿lIest extent pennitted by
law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this repor¢ or for the opinions we have formed.
dl DJL
Ward Willi8m8
B¢lgrave House
39-43 Monument Hill
Weybridge
sU￿¢Y
KT13 8RN
Page 7

The Buffini Chllo Foundatioll
StAtement of Financial Aetivitits
for the Year Ended 5 April 2024
5.4.24
Totsl
nds
5.4.23
Total
funds
Unrestricted
fund
Endowment
fund
Notes
INCOME AND ENDOWMENfs FROM
Donations and legacies
994,485
994,485
500,000
Invesknent income
533,512
S33,512
501,891
Totsl
533,512
994,485
1527,997
1,001.891
LYPENDITURE ON
Raising funds
4J22
4J22
4,420
Charitable aetivities
Genernl charitable a¢tivities
944,854
944,854
743,817
Total
944054
4J22
949,176
748,237
Net gains/{losses) on invesknents
533217
533217
(855,133)
NET INCOMEI(EXPENDITURE)
Transfers between funds
{411a42)
411J42
lJ23J80
(411J42)
1,112,038
(601,479)
14
Net movement in funds
1,112,038
1,112,038
(601.479)
RICONCILIATION OF FUNDS
Total funds brought forward
12,462266
12,462266
13,063,745
TOTAL FUNDS CARRIED FORWARD
13J74a04
13,574a04
12,462,266
The notes fomi part of these financial statements
Page 8

The Buffini CbAO Foundatlon
Balance Sheet
S Aprll 2024
5.4.24
Totsl
funds
5.4.23
Total
fiknds
Unrestricted
nd
Endowment
nd
Notes
FIXED ASSETS
tnvestments
li
13,270,622
13,270,622
11,836.668
CiiRRENT ASSETS
Debtors
C&8h at bank
12
7,751
2J49
7,751
307,231
3.056
631,242
304,882
io,ioo
304,882
314,982
634298
CREDITORS
Amounts falling due within on¢ year
13
{io,ioo)
(1,200)
(11,300)
(8,700)
NET CURRENT ASSETS
303,682
303,682
625,598
TOTAL ASSETS LESS CURRENT
13,574J04
13,574,304
12,462,266
IYET ASSETS
13,574,304
13,574JIM
12,462,266
14
Endowment fi￿d5
13,574,304
12,462,266
TOTAL FUNDS
I3￿74?04
12,462266
The fmancial ststements wetr approved by the Board of Trnstees 8nd authoLised for issue
..l.i.LJ L
. 8nd were signed on its b¢half by..
Lady Buffini- Trustee
The nol¢s fom part of these financial stat¢meThts
Page 9

The Buffilli Chao Foundation
C#$h Flow Statement
for the Year Ended 5 April 2024
5.4.24
5.4.23
Notes
Cash flows from operating activitie5
Cash generated from operations
16
(946,949)
(747,990)
Net cash used in operating activities
(946,949)
(747,990)
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
(994,485)
93,748
14,471
519,041
(Il8,186)
2,000
3,897
497,994
Net cash (used inyprovided by investing activities
{367225)
385.705
Cash flows from finaneing activities
Income attributable to endowment
Expenditure attributsble to endowment
994,485
(4J22}
500,000
(4,420)
Net Cash provided by financing activities
990,163
495,580
Change ill cash gnd cash equivalents in
the reporting period
Cash and cash equivalellts at the
beginning of tbe reportillg period
(324,011)
133,295
631242
497,947
Cash and egsh equivalents 4t the end or
the reporting period
307231
631,242
The notes forni part of these financial statements
Page 10

The Buffini Ch20 Foundation
Notes to the FinanciAI Ststemellts
for tbe Year Ended 5 April 2024
AccouNfiNG POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENrs
The financial slatements of the ¢harity, whi¢h is a public benefit enlity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effe¢tive l January 2019),,
Financial Reporting Standard 102 The Financial Reporting Standard applicabl¢ in the UK and Republic of
Ireland, and the Charities Act 2011. The fiy]ancial statements have been prepared under the historical cost
onvention, with the exception of investtnents which are included at market value.
The financial ststements have been prepared on a going concern b&qis as the trustees believe that no material
uncertainties exist. The tn￿te¢S have considered the level of funds held and the expected level of income and
expendituT¢ for 12 months from authorising these fmancial statements. The budgeted income and expendithre is
sufficient with the level of reserves for the Gharity to be able to continu¢ &8 a going ¢on¢ern.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entidement to the funds, it
15 probable that the income will be received and the amount can be measured reliably.
EXPETr4DITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructiv¢ obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation Can be measured reliably. Expendi￿re is accounted for on an accruals basis and has
been classified under headings that wegate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Grants offered subject to conditions which have not b¢en met at the year end date are noted as a commilment but
not accrued as expenditure.
ALLOCATION AND APPORTIONMENT OF cosrs
Resources expended are allocated directly to the fund to which they relate.
TAXATION
The ¢harity is exempt from t&x on its charitsble activities.
FUND ACCOUNTING
Unrestri¢ted ￿ndS ¢an be used in accordance with the charitable objectives at the dis¢retion of the trwtees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restri¢tions
arise when specified by the donor or when ￿ndS are raised for particular restricted purposes.
The endowment fund is restricfrd in that the funds were gifted to provide a capitsl b&8e in order to generate an
income from which to make ￿antS in the course of the charity's activities. The endowment is however
expendable at the discretion of the trustees and any capital gains or losses are ¢reditedlcharged to the fund.
Investment management costs are ¢harged to the Endowment funds.
FOREIGN CURRENCIES
Assets and liabilities in foreign curren¢ies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign ¢urrencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are tsken into a¢¢ount in gJTiving at the operating result.
PENSION COSTS AND OTHER POST-RITIREMENT BENEFrrs
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension
scheme are charged to the Statement of Financial Adivities in the period to whi¢h they relate.
Page 11
continued...

The Buffini Cbao Foundatio
Notes to the FinaJJ¢ial Statem¢nts- continued
for the Year Ended 5 April 2024
ACCOUNTING POLICIES- continued
Investments are ststed at market value at the balance sheet date. The Statement of Financial Activities includes
Ihe net gains or losses arising in th¢ year whether from revaluations or disposals.
DONATIONS AND LEGACIES
S.4.24
5.4.23
Gifts
Gift aid
994,485
400,000
loo,000
994,485
500.000
INVEsfMENf ThCOME
Investment income comprises..
5.4.24
5.4.23
Interest received on UK investments
UK Dividends
Interest received on overseas inveslments
4,471
517,949
1,092
3,897
497.994
533112
501,891
IL4ISING FUNDS
INVESTME￿ MANAGEMENT COSTS
5.4.24
5.4.23
Portfolio management
4?22
4,420
CHARITABLE ACTivrriES COSTS
Grant
funding of
activities
(see note
Support
costs (see
note 7)
6)
Totals
General Charitable activities
835,710
109,144
944,854
Page 12
¢ontinued...

The Buffini Chao Foundation
Iyotes to the Financial Statemellts- continued
for the Year Ended S April 2024
GRANTS PAYABLE
5.4.24
5.4.23
General charitable activit1¢5
835,710
641,510
The totsl grants paid to institutions during the year was as follows:
5.4.24
5.4.23
Bush Theatre Company
Caterham Primary Maths programme
Chance to Shine
Children Today Charitsble Trust
Community Foundation for Surrey
English National Ballet
Envision
First Give
Footbal Beyond Borders
Foundation and Friends of the Royal Botanic Gardens Kew
Headlong Theatre Limited
Into University
Kent Academies Network
Music Masters
Primary Robbills
Quentin Blake Centre for Illustration
Royal Academy ofDance
Royal Ballet School
Royal National Theatre- ￿ Conne¢tions, News Views and Levs Play
pr0￿Me$
Royal Shakespeare Company
Rugby Football Foundation
Schoolreaders
Soil Association
Springboard Foundation
Unicorn Theatre
Untold Creative Training
Victoria and Albert Museum
World Heart Beat Music Academy
Young Enterprise
10,000
5,000
14,000
15,000
30,000
74,000
10,000
25,000
26250
25,000
25,000
10,140
40,000
25,000
18,000
25,000
40,000
18.000
21,510
5,000
10,000
2S,000
20,000
250,000
250,000
3,000
5.000
5,000
12J20
30,000
10,000
50,000
125,000
25,000
5,000
30,000
10,000
125,000
25,000
835,710
641,510
Page 13
continued...

The Buffini Ch20 Foulldation
Notes to the Financial Statements- eontinued
for the Year Ended 5 April 2024
SUPPORT COSTS
Governance
costs
M8nagem¢nt
Finance
Totals
General charitabl¢ activities
94,856
74
14214
109,144
Support costs, included in the above, a￿ as follows:
MANAGEMENT
5.4.24
General
charitable
athivities
5.4.23
Total
a¢tivities
Wages
Social security
Pensions
Website costs
Postage and stationery
Travel and subsistenc¢
IT Support
82J07
5216
1,418
858
330
245
4,482
77,013
4216
1,170
564
362
1?75
4,146
94056
88,846
FINANCE
5.4.24
Genernl
charitable
activities
5.4.23
Total
activities
Bal￿ charges
74
81
GOVERNANCE COSTS
5.4.24
Generdl
charitsble
activities
5.4.23
Totsl
activities
AudiÉors' remuneration
Professional fres
6,660
7A54
5,760
7,620
14214
13J80
Page 14
Continued...

The Buftfini Chao Foundation
Notes to the Financial Ststements - continued
for the Year Ended 5 April 2024
TRUSTEES, REMUNEBATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 5 April 2024 nor for the year ended
5 April 2023.
TRUSTEES, EXPENSES
An amount of £59 (2023: £252) was re-imbursed to l(2023.. 1) TTh￿tee for expenses made on behalf of the
Charity.
STAFF COSTS
5.4.24
5.4.23
Wages and salaries
Social security costs
Other pension costs
82J07
5216
1,418
77,013
4216
1,170
88,941
82,399
The average monthly number of employees during the year was as follows:
424
5.4.23
Administration
No employees receiv¢d emoluments in excess of £60,000.
COIWIPABATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestrkcted
fund
io.
Endowment
nd
Total
fijnds
COME AND ENDOWMENfs FROM
Donations and legacies
500,000
500,000
Investment income
501,891
501,891
Totsl
501,891
500,000
1.001,891
EXPENDITURE ON
Raising funds
4,420
4,420
Charitablt activities
Genernl charitsble athivities
743,817
743,817
ToÉ*l
743,817
4,420
748,237
Net gainsl(losses) on investments
(855,133)
(855,133)
NET INCOME/(EXPENDITURE)
Tr#nsfers between funds
(241,926)
241,926
(359,553)
(241,926)
(601.479)
Net movement in funds
(601.479)
(601,479)
Page 15
continued...

The Buffifji Chao Foundation
Notes to the Finaneial Statements - continued
for tbe Year Ended 5 April 2024
io.
COMPARATIVES FOR THE STATEMENf OF FINANCIAL AcfiviTIES- continued
Unrestricted
Endowment
nd
fund
Total
funds
RECONCILIATION OF FUNDS
Total funds brought fonvard
13,063,745
13,063,745
TOTAL FUNDS CARJUED FORWARD
12,462,266
12,462266
ii.
FIXED ASSET INVEsfMENTS
Listed
investments
MARKET VALUE
At 6 April 2023
Additions
Disposals
13?06J99
994,485
(9S,195)
At 5 April 2024
14205,689
PROVISIONS
At 6 April 2023
Provision for year
1,469,731
(534,664)
At 5 April 2024
935,067
NET BOOK VALUE
At 5 April 2024
13270,622
At 5 April 2023
11,836,668
Investments at market value comprise:.
5.4.24
5.4.23
Bonds
Multiple Asset Class
899,985
12,370,637
11,836,668
13270,622
11,836,668
Of the invesknents held at the balance sheet date £399,376 (2023.. £Nil) relate to overseas holdings.
Page 16
ontinued...

The Buffini Chao Foundation
Notes to the Financial Statements- eolltinued
for the Year Ended 5 April 2024
12.
DEBTORS: AMouNfs FALLING DUE wrrHIN ONE YEAR
5.4.24
5.4.23
Other debtors
7,751
3,056
13.
CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
5.4.24
5.4.23
Accrued expenses
li?00
8,700
14.
MOVEMENf IN FUNDS
Net
movement
in thnds
Transfers
bettween
funds
At
5.4.24
At 6.4.23
Unrestrieted funds
General fund
(411J42)
411J42
Endowment thllds
Expendable endowment
12,462266
1S23?80
(411J42)
13J74a04
TOTAL FUNDS
12.462266
1,112,038
13,574J04
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in ￿llds
Unrestrieted funds
Genernl ￿nd
533,512
(944,854)
(411?42)
Endowmellt funds
Expendable endowment
994,485
(4J22)
533217
IA23J80
TOTAL FUIYDS
IA27,997
(949,176)
533217
1,112,038
Page 17
continued...

The Buffini Chao Foundatloll
Notes to the Financial Statements- eolltinued
for the Year Ended 5 April 2024
14.
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net
movement
in thnds
Tronsfers
between
funds
At
5.4.23
At 6.4.22
Unrestricted funds
General fiind
(241,926)
241.926
Endowment fvnds
Expendable endowment
13,063.745
{359,553)
(241,926)
12,462,266
TiyfAL FUNDS
13,063,745
(601,479)
12,462,266
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in fund5
Unrestricted fulld8
General fund
501,891
(743,817)
(241,926)
Endowment funds
Expendable endowment
500.000
(4,420)
(855,133)
(359,553)
TOTAL FUNDS
1,001,891
{748237)
(855,133)
(601,479)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in ￿ndS
Tronsfers
between
nds
At
5.4.24
At 6.4.22
Unrestricted funds
General fimd
(653,268)
653,268
Endowment funds
Expendable endowment
13,063,745
1,163,827
(653268)
13,574,304
TOTAL FUNDS
13.063,745
510,559
13,574.304
Page 18
continued...

The Buffini Chao Foundation
Notes to the Flnancial Statements - eolltinued
for the Yeir Ended 5 April 2024
14.
MOVEIWIENf IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in fvnds, included in the above are
as follows..
Incoming
r¢sources
Resources
expended
Gains and
losses
Movmient
in ￿ndS
UDrestYieted funds
General fimd
1,035,403
(1,688,671)
(653,268)
Endowment funds
Expendable endowment
1,494,485
(8,742)
(321.916)
1,163,827
TOTAL FUNDS
2,529,888
(1.697,413)
(321,916)
510,559
The Generdl Fund represents the free fjjnds of the charity.
The endowment fund. which is ¢xpendabl¢, represents unspent endowrnents given lo the charity to provide a
apital b&8e to generate an income whi¢h can then be applied to provid¢ to other charitable instithtions.
TRANSFERS BETWEEN FUNDS
A transfer is made from the expendable endowment fund to the general fund to make good the net outgoing
re50ur¢es on the unrestricted fimds.
15.
RELATED PARTY DISCLOSURES
During the year under r¢view the Charity received gifts from 2 tsvstees amounting to £994,485 (2023.. 2 tsustees
- £400,000).
During the year the Charity made grants of £250,000 (2023.. £250,000) to The Royal National Iheatre, a charity
in which Sir D M Buffmi is also a Trustee. The Charity also made grants during the year of £74,000 (2023:
£Nil) to the English National Ballel a charity in which Lady Bulfmi is also a Trustee.
16.
RECONCILIATION OF NET INCOMEI(IXPENDITURE) TO NET CASH FLOW FROM
OPERATING AcfNITIES
5.424
5.4.23
Net incomel(expenditure) for the reporting period (4$ per the
ststemellt of Fillalleial Activities)
Adjustments for:
(Gainylosses on investments
Interest received
Dividends received
Income attributable to endowment
Expenditure attributable to endowment
Incre8se in debtors
In¢reasel{de¢re&se) in ¢reditors
1,112,038
(601,479)
(533217)
(14,471)
(519,041)
(994,485)
4J22
(4,695)
2,600
855,133
{3,897)
(497,994)
(500,000)
4,420
{3,056)
(1,117)
Net easb used in operations
(946,949)
(747,990)
Page 19
ontinued...

The Buffini Chao Foundation
Notes to the Fin#lleial Statements- continued
for the Year Ended 5 April 2024
17.
ANALYSIS OF CHANGES IN NET FUNDS
At6.4.23
Cash flow
At 5.4.24
Net CAsh
Cash at bank
631242
(324,011)
307,231
631,242
(324,011)
307231
Total
631242
(324,011)
307231
Page 20