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← Community Foundation For Surrey

2025-03-31-accounts

Community Foundation for Surrey

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Report of the Trustees and Financial Statements for the Year Ended 31 March 2025

for

Community Foundation for Surrey (Limited by Guarantee)

Registered Charity Number: 1111600

Company Number: 05442921

Company Number 05442921

Charity Number 1111600

1

Community Foundation for Surrey

Report of the Directors and Financial Statements for the Year Ended 31 March 2025

Contents

Page Page
Trustees’ Annual Report 3
Chair’s Report 3
Objectives and Activities 6
. Achievements and Performance 7-10
Financial Review 11-12
Plans for Future Periods 12-13
Structure, Governance and Management 14-15
Trustees’ responsibilities in relation to 15
the financial statements
Reference and Administrative Details 16
Independent Auditors’ Report 17-19
Statement of Financial Activities 20
Balance Sheet 21
Summary Income and Expenditure Account 22
Statement ofCash Flows 22
NotestotheFinancialStatements 23-37

Company Number 05442921

Charity Number 1111600

2

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Chair's Report 2024-25

Since the Community Foundation for Surrey was established in 2005, each year has brought new challenges and opportunities for the county and its communities. The Foundation has worked tirelessly alongside local charities, funders, and partners to ensure that our residents are supported through evolving times. This vital work would not be possible without the generosity of our fund-holders, donors, volunteers, and supporters. We are deeply grateful for your commitment and ongoing support.

Responding to Change and Rising Need

The past year has seen considerable change across the public sector in Surrey, with devolution discussions, local government reorganisation, evolving healthcare structures, and shifts in the Office of the Police and Crime Commissioner and Surrey Police. These shifts bring both uncertainty and opportunity for the charity and voluntary sector, all while communities continue to be affected by the economic challenges.

Surrey is commonly perceived as an affluent county, but increasing deprivation in certain areas indicates a more complex situation, revealing significant disparities in various localities and communities.

Our latest Impact Report (2024) sheds light on the invisible need in Surrey. Using both publicly available data and our experience of two decades working with grassroots organisations, the report reveals the depth and breadth of current challenges. Key findings include:

Our Impact in 2024 / 25

Amid these challenges, CFSurrey has taken steps to expand its reach and deepen its impact.

In the past year:

Company Number 05442921

Charity Number 1111600

3

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

We welcomed new team members Sophie Foale and Katharine Hoare to strengthen our operations as well as our newtrustees David Stead, Tamalie Newberry, Roshan[Bailey,] Susan Sanderson, Ruchika Gupta[—][all] bringing invaluable perspectives and energy to the Board.

Our heartfelt gratitude and appreciation to Sir Denis O’Connor, who stepped down as Chair of Board and Trustee, for all his hard work and commitment. We are incredibly gratefulfor he is continued support, as a Vice President.

A special thank you goes to Elaine Tisdall, Trustee and Chair of the Grants Committee, and Caroline Rich, Trustee and Chair of the Personnel and Governance Committee, Holly Murnieks, Trustee and member of Finance & Development committee for their dedication and service.

Our appreciation to Nicola Bartlett - our Grants Manager for her hard work during her time with CFSurrey and we wish her well for her new venture.

We are deeply grateful to our dedicated volunteers for their time, energy, and unwavering commitment. They are always willing to step in when needed, and their continued support plays a vital role in helping us deliver our mission across Surrey.

My sincere thanks go to Dr Rebecca Bowden and the entire staff team. Their tireless work, passion, and willingness to go the extra mile are the driving force behind our success. Their dedication underpins all that we do, enabling us to strengthen charities and build resilient communities throughout the county.

| would also like to express my heartfelt appreciation to the Trustee Board for their steadfast commitment to the Foundation. Their guidance, expertise, and belief in our mission continue to shape our vision and support the long-term impact we strive to achieve across Surrey.

Looking Ahead 2025 / 26

We are proud to celebrate the 20th anniversary of the Foundation. We reflect with pride on the £23 million in grants we have awarded since 2005. Our ambitions for the future are clear— to grow our philanthropic funds, build sector capacity, and inspire local giving rooted in trust, insight, and impact.

in May 2025, we awarded over £422,000 through our inaugural main grants round for the newfinancial year— demonstrating strong and consistent support for local groups. We also celebrated the Spelthorne Community Fund 5th Anniversary— a milestone that continues to reflect strong local engagement and growing impact.

We hosted a well-received webinar on local government reorganisation in Surrey in May 2025, offering clarity and collaboration opportunities for local groups navigating public sector changes.

Key focus areas include:

Company Number 05442921

Charity Number 1111600

4

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Collaboration will remain centralto our work. We believe joint efforts are essential to making better use of resources, increasing impact, and ensuring sustainable support for those most in need.

There is so much to do but with the strength of our community and the steadfast support of our partners, we look forward to the year ahead with optimism, purpose, and a deep sense of responsibility. Thank you for being part of this journey.

Working Together, we can ensure that no one in Surrey is left behind.

Neelam Devesher DL- Chair, Community Foundation for Surrey

Company Number 05442921

Charity Number 1111600

5

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

The Trustees’ Annual Report incorporates the Directors’ Report as required by company law.

Objectives and Activities

The Community Foundation for Surrey (the Foundation) is an independent local charity, whilst also being part of a long-standing global movement of Community Foundations, of which there are 47 in the UK. Our role is to bring together those with a desire to give in Support of local communities and those who are positively acting to address local challenges.

Vision

We believe in a stronger, fairer Surrey—where everyone can support organisations making a positive difference so that no one is left behind.

Mission

We make a lasting and impactful difference to Surrey by acting as a catalyst —connecting people, ideas, and resources to community partners and individuals in need.

The stated objects of the Foundation are the promotion of charitable purposes for the benefit of the community in the county of Surrey — and in particular the advancement of education; the protection of good health, both mental and physical; and the relief of poverty and sickness.

These objects are closely reflected in the Foundation’s strategy for its grant-making, which identifies key priority themes:

heritage.

Values

The work of the Foundation is under-pinned by the following core values:

We focus on long-term strategic change to improve lives in our communities by collaborating with local donors and community organisations to enable positive and sustainable change.

We care deeply about our communities and donors, ensuring they are represented and included in all aspects of our operations.

We value expertise and continuously build our understanding of local needs through curiosity and research.

We are trusted by our partners, our funders and the people of Surrey to be accountable and independent. We form empowering relationships based on fairness, equality, and transparency.

We are ambitious and ready to challenge, helping our partners have impact and our communities thrive through the value of our data, insight, and knowledge.

We focus our energy on building significant, sustainable funds for local communities.

Company Number 05442921

Charity Number 1111600

6

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Public Benefit

The Trustees confirm that they have complied with the duty in.the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities of the Foundation. The Trustees review the activities of the Foundation against its aims on an ongoing basis and are satisfied that all the activities continue to focus on achieving its aims. No specific issues of detriment or harm have been identified.

Charity Governance Code

For the annual Board self-assessment, Trustees considered each of the seven key areas identified in the Charity Governance Code; the Personnel & Governance Sub-Committee meets bi-annuallyto review policies and procedures and consider actions arising from Senior Management Team’s (SMT) quarterly review of the risk register. During 202425 we recruited 5 new Trustees to replace those who had retired.

Achievements and Performance

Highlights

Over £4,417m (2023/24 £1.5m) generated in income to help those in need.

Over £1.96m (2023/24 £2m) awarded in grants.

BET Grants awarded to 254 organisations and 142 individuals (2023/24 334;134). E Average Value of grant awarded to organisations £4,952 (2023/24 £5.3k). CoB 15% of grants were awarded to organisations who were applying to us for the first time (2023/24 16%). * | Success rate of applicants at full application stage is 86%

66% of the groups who received grants had a turnover of less than £500k.

Growing Local Philanthropy

A key aim of the Foundation is to build significant resources to support those living in local communities across Surrey —in both the immediate and the longer term.

During 2024-25, donations for immediate grant-making totalled £3.73m and a further £683k was received in donations to endowment. We currently have endowment funds totalling over £15.8m compared to £17.6m last year.

Company Number 05442921

Charity Number 1111600

7

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

The Foundation acts as a trusted philanthropy advisor and partner, working together with major donors to direct their giving to the causes about which they are most passionate. Donors benefit from the Foundation’s due diligence, and knowledge of local needs. As part of the Foundation, donors also have opportunities to meet other local donors and to receive regular updates on wider topics. A range of giving options are available.

Individual and Family Giving

We currently work with 42 individuals and families, providing bespoke Donor-Advised Funds, including legacy / in memoriam giving. Many donors have set up long-term Endowment Funds and have what has been described as the “unique joy” of giving a one-off gift, from which income can be allocated each quarter, so the impact of their initial gift continues in perpetuity. Many also enjoy involving the next generation in their family giving. In 2024-25 we set up a new private family fund to focus on Strategic Transformation grants to groups. We were also pleased to receive a new Legacy Fund on behalf of Kate Livingstone. The fund will support those most in need across Surrey.

Corporate Giving -We currently have 11 Funds where we work in partnership with local companies to fulfil their Corporate Social Responsibility (CSR), enabling effective givingtogood causes and engaging employees in these activities.

Charitable Trusts - We have several funds which have either been established through trust transfers in the case of inactive or closing trusts or where we work in partnership with an active trust to deliver local grantmaking.

Collective Funds — Our 33 collective funds are comprised of donations from a wider group of local donors, united around a shared interest — whether that be a locality or a theme. Joining with others in this way means that multiple donations are pooled together, to achieve greater impact. 19 of these collective funds have been set up to serve a particular geographic area. In 2024-25 Guildford Philanthropy Fund celebrated its 10" Anniversary with a series of successful fundraising events — raising over £100k at their Mistletoe Ball. In 2024/25 Area Funds have awarded £219k in grants. 38 grants totalling £53,416.74 were grants of less than £2,500 using our small grants process.

Mental Health Scale-Up Fund

This fund is a collective fund, supported by four private family foundation, Surrey County Council and Surrey Heartlands. It awards 5-year grants of £0.25m-£0.35m each with the purpose of scaling up interventions which are clearly working. In 2024-25 the fund awarded: £624,000 Oakleaf, Hope Hub, Guildford Action & Rentstart - Suicide Prevention in Young Adults £250,000 Surrey Minority Ethnic Forum - Baby Steps Perinatal Equity Project

£250,000 Home Start Surrey - Dad Matters £375,000 Surrey Domestic Abuse Partnership - Suicide Prevention Services

Care Leavers Fund

This national fund was funded by CCLA and the Local Authorities’ Mutual Investment Trust (LAMIT) to support Care Leavers. CFSurrey was awarded three-year funding and match funding for years 2 and 3 has been pledged by Sedel-Collings Foundation. The programme includes awards to groups and direct grants to individual care leavers.

The Care Leaver’s three-year funding program received match funding from Surrey County Council for grants to groups for the first year, providing £30,000 to distribute by April 1, 2024. Grants were awarded to organizations supporting Young Care Leavers, with an initial £14,700 granted to three projects benefiting 98 Care Leavers in Surrey. These grants funded trips and art classes. After consulting with the SCC Care-Leavers team on funding gaps, three more applications were invited, leading to two additional awards for a mentoring project and supported housing. The remaining balance was used to top up an existing grant. £ 5,000 was allocated to our Surrey Young Peoples Fund fully matched by the fund creating a £10,000 ringfenced fund to award grants to individual care experienced young people in Surrey to enable them to access education, training and employment. To date £5,828.59 has been awarded in 19 grants to individual young people.

Company Number 05442921

Charity Number 1111600

8

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Our Funds

Individual/Family Bespoke fund Arabella & Julian Smith Family Trust Aurora Fund Baker family Fund Bayliss Donations Fund Betty Parr Whitbread Music Fund Bexington Fund Billmeir Fund Birtley House Fund Borrows charitable trust Fund Bryn Siriol Burnett Environmental Fund Carrington Family Trust CARTS fund Catenum Fund Dancer Fund East Court Fund Gabrielle E. Thornton Fund Greenshoots Hamilton Hazelhurst Kaye Family Fund LBM Jem Fund Marjorie Jaye Fund Netherby Trust Fund NIBS Wells One & 35 Fund Orchid Environmental Fund Parkes Fund Perros Fund Ron Hancock Donations Fund Roshan Bailey Fund Smyth Community Fund Stonar Brighter Futures Fund The Pargiter Trust Thomas Trust Fund

Legacy/In Memory Funds David Tyson Memorial Fund Dora Fedoruk Memorial Fund Fiona Strong Memorial Fund Kate Livingston Fund Mamie Mollan Community Fund

Area Funds Chiddingfold Community Fund Chobham Bly Lawson Youth Fund Claires Friendship Project Fund Community Fund for Reigate & Banstead Etmbridge Philanthropy Epsom & Ewell Community Fund Guildford Philanthropy Hambledon Community Fund Haslemere Challice Community Fund Horley Edmonds Fund Horsleys Community Fund Lower Green Neighbourhood Fund Mole Valley Community Fund Ockley Community Fund Peaslake Community Fund Runnymede Community Fund Spelthorne Community Fund Surrey Heath Community Fund Tandridge Community Fund Woking Community Fund

Collective, themed Funds Carers Support Guildford Elder Companionship Guildford Young Carers Mental Health Scale-Up Surrey Community Fund Surrey Community Music Fund Surrey Education Fund Surrey Heritage for All Surrey Hills Trust Fund Surrey Sports Fund Surrey Supported Employment Surrey Young Peoples Fund SYP Care-Leavers Fund Winter Poverty Corporate Funds Charles Russell Speechlys Community Fund for Elmbridge Cyrus Electronic Arts Education Fund Electronic Arts Youth Fund Fidelity UK Foundation Community Fund

Company Number 05442921

Charity Number 1111600

9

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Working Partnership with Charitable Foundation Gatwick Airport Community Fund Bishop of Guildford's Foundation Hail Hunter Community Fund Fidelity UK Foundation Surrey Community Development Sente Software Fund NIBS-Wells Fund Shepperton Studios Community Fund Peter Harrison Foundation Community Fund Shepperton Studios Education fund Thermotech Fund

We would like to thank all of our Donors and Fund Holders who between them have made a substantial contribution to improving the lives of people across Surrey.

Grant-making

During 2024-25, the Foundation awarded grants to both community groups and individuals across Surrey totalling £2,892,286 of which 15% was awarded to organisations who were applying to us for the first time. Through 2024-25 our donor funds continued to fund the ongoing work of the voluntary sector improving the lives of people in Surrey, and in particular to respond to the impact of the economic situation on individuals in need in Surrey, and on the voluntary and community sector organisations themselves. A wide range of issues are supported through the main grants programme, the dominant themes are Health and Wellbeing, Mental health, Education learning and training and Social Inclusion.

A complete list of grants awarded is available on our website at https://www.cfsurrey.org.uk/grants-awardedin-Surrey

Since it was established in 2005 to 31 March 2025, the Foundation has awarded 6,001 grants totalling £26,303,429

Company Number 05442921

Charity Number 1111600

10

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Financial Review

Financial Review Financial Review Financial Review
~~2024-25~~
~~2023-24~~
~~Where~~ ~~our money came from~~
~~£~~000
£°000
Our total income was
_.		 4,642 2,421
New Donations to Endowment Funds 683 148
New Donations to Flow-through
Funds		 3,239 1,534
Donations towards Support Costs 120 137
Distributions from Endowment Funds 495 602
Other income _ x
Howwe spent our money £°000 £7000
We spent in total 2,544 2,553
Grants* 1,969 2,025
Grant Making &Donor Care 425 396
~~CostsofDevelopingPhilanthropy~~ ~~150~~ ~~132~~

*Grants paid out during the year ended 31 March 2025 will differ from grants awarded (see note 4.4).

Gifts in Kind

The Foundation received gifts in kind totalling £48k during the year, which includes provision of payroll service from Azets and office space from Woking Borough Council.

Investment Powers and Policy

Under the Memorandum and Articles of Association, the Foundation has the power to invest funds as approved by the Trustees. The Board has established a Finance and Development committee consisting of Trustees, the Chief Executive and the Finance Manager. The group monitors the financial position, oversees the management of the funds to ensure optimum returns on investments, appoints professional advisers and auditors within agreed Board policy and makes financial recommendations to the Board.

The Foundation’s investment objective is to maximise the total return over the long term without exceeding the level of risk appropriate for a charity. The Foundation’s investment target is a total return of Consumer Price Index (CPI) plus 4% net of investment manager’s fees with quarterly distributions. The agreed time horizon is 10 years plus and the level of risk is medium.

During 2024-25, the Foundation has built funds to cover the operational costs of running the Foundation, to fund the grant-making programme from donor contributions and to build its Endowment Funds. The Trustees have considered a number of options for ensuring optimum returns on these funds and have an approved investment policy which is reviewed annually.

Funds held are as follows:

Company Number 05442921

Charity Number 1111600

11

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

The Foundation receives quarterly distributions of the income which fund the grant programme. In addition, at the end of each financialyear to 31 March, the Foundation, in consultation with Donors, decides what proportion of the cumulative gain above inflation in the CCLA Community First Funds, if any, may be distributed bearing in mind the long-term investment objective.

The total endowment funds at the 31 March 2025 totalled £15.81m (2024: £17.45m).

Excluding CCLA Community First Funds, the Board agreed to make available for distribution in 2024-25, 5% of the market value of the Fund (less the agreed contribution to the Community Foundation).

The total investment return (income plus capital gain) for the year ended 31st March 2025 as a percentage of the capital at 31st March 2025 was 13.6%.

Assessment of Principal Risks

With respect to the next reporting period, 2025-26, the most significant areas of uncertainty that affect the carrying value of assets held by the Foundation are the level of investment return and the impact of markets on Endowments. The Finance and Development Committee review and monitor investment performance on a quarterly basis and are provided regular reports from CCLA.

Reserves Policy

It is the Reserves Policy of the Foundation that unrestricted funds, which have not been designated for a specific use should be maintained at a level of at least four months of the subsequent year's budgeted operating expenditure. Funds held in surplus to this are used for meeting additional need as it arises and for investing in the capacity of the organisation to meet its operating commitments. At 31 March 2025, reserves totalled £474k which is above the strategic reserves policy level of £175k.

Plans for Future Periods

Strategic Priorities for CFSurrey 2025-2030:

Encouraging Giving Differently

Our vision for the future is of a Surrey where all communities work together to ensure that everyone has hope and that no one is left behind. A Surrey where everyone can access the support they need, when they need it, from a thriving voluntary sector in the county.

CFSurrey will be celebrating 20 years of operation in 2025. We are proud to support a growing network of Funders with 80 Funds totalling over £17m under our management. We are experiencing an unprecedented demand for funding. To address this gap, we are adopting a multifaceted approach.

Company Number 05442921

Charity Number 1111600

12

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

  1. We are expanding grassroots support by growing our Area Funds, which are geographic Funds run by volunteers representing the local community. These funds provide rapid, flexible small grants to local groups, ensuring swift responses to community needs.

  2. We are in parallel proactively encouraging our fund-owners to collaborate on addressing significant strategic issues within our county by pooling funds, as we have done with our Mental Health Scale Up Fund and Strategic Transformation Fund.

Scaling-up Strategic Partnerships —-We have demonstrated the huge impact of encouraging donors to collaborate to address key strategic issues. We plan to continue to encourage more of our donors to come together to give in a pooled way to address the key strategic needs in the county. Two new Pooled Funds to bring several donors together to address an issue are currently under development:

Arts, Culture & Heritage Social Impact Fund:

This fund will support the transformative impact of the arts on those most in need.

Sanctuary Seekers Fund: This fund will assist individuals displaced by conflict, helping them integrate and thrive in our community.

Our Area Funds network holds tremendous potential for fast, responsive funding and deep local engagement. However, we recognise the need to develop this network further, ensuring it equally covers our entire area and fully engages with the diverse community we serve. We are committed to supporting and holding our Area Funds accountable, aiming to achieve sustainable annual grant-making programs in perpetuity.

Delivering Grant-Making Differently

Our priority missions for grant giving

  - Support health and wellbeing in all our communities » Address economic disparity and inequality

Company Number 05442921

Charity Number 1111600

13

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Structure, Governance and Management

Governing Document

The Foundation is registered as a charity with the Charity Commission and is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26 April 2005 and updated in 2020. As at 31 March 2025, there were eleven Trustees, each of whom agrees to contribute a maximum of £10 in the event of the Foundation winding up. In FY 2024-25 five new Trustees was recruited and there are plans to recruit two in FY 25-26 to plan for retirements.

Appointment of Trustees

The Directors of the Foundation are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

As set out in the Articles of Association, the Foundation must at any time have at least three Trustees but is not subject to any maximum number. The Trustees are appointed on the basis of a range of skills and expertise to support the development of the Foundation. The Chair and Vice-Chair are elected by nomination and vote of the Trustees.

Trustees hold office until the third Annual General Meeting following their appointment when they then retire. A retiring Trustee is eligible for re-election for a second term, and a third term only with approval of the remaining Trustees.

All Trustees are circulated with invitations to nominate Trustees prior to the annual general meeting, advising them of the retiring Trustees and requesting nominations. Trustees can also be appointed by resolution at a meeting of existing Trustees and can hold office only until the next annual general meeting when nominations for reappointment are made.

Trustee Induction and Training

New Trustees are provided with an induction pack and attend an induction session with Trustees and key employees of the Foundation. The pack and training session include the aims, objectives and key activities of the Foundation and their legal obligations under charity and company law, including the Charity Commission booklet CC3, ‘The Essential Trustee’. Other documents included are the governing document, the latest Trustees’ annual report and accounts, the business plan, current budget, the structure of sub-committees, the fund development plan, the marketing and communications strategy and grants policy.

Trustees undertake on-going training and development including visiting other Community Foundations, organising relevant internal training sessions or attending appropriate external training sessions.

Organisation Structure

The Board of Trustees administers the Foundation and meets quarterly. The Board has three sub-committees which meet quarterly between Board meetings, unless otherwise specified below. Each sub-committee includes at least two Trustees plus non-trustees appointed by majority vote of Trustees. The sub-committees are:

e Finance and Development Committee

Working Groups have also been established periodically, meeting as required during the period. Currently we have working groups on Corporates and Donor Engagement.

Company Number 05442921

Charity Number 1111600

14

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

The Foundation has full membership of UK Community Foundations and the association of Charitable Foundations.

The Foundation complies with the Charities Act 2011 and GDPR regulations. The Foundation does not use professional fundraisers or commercial participators to raise income for the Foundation. No complaints were received by the Foundation with regard to its fundraising activity.

Risk Management

The individual sub-committees consider the risks, and the management of the risks associated with their responsibilities. The Senior Management Team led by the Chief Executive takes an overview of risk management and reports to the Board. Trustees have considered the major strategic, business and operational risks to which the Foundation is exposed and have completed a risk assessment which is reviewed on an on-going basis. Systems and review processes have been established to mitigate these risks.

Trustees’ responsibilities in relation to the financial statements

Company law requires the Trustees, as directors, to prepare financial statements that give a true and fair view of the state of affairs of the Foundation at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Foundation and which enable them to ensure that the financial statements comply with the Companies Act 2006. 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 irregularities.

Each Trustee who was a Trustee of the charitable company at the date this report was approved has taken all steps that he/she ought to have taken as a Trustee in order to make themselves aware of any relevant audit information (as defined by the Companies Act 2006) and ensure that the auditors are aware of all relevant information (as defined). As far as each Trustee is aware, there is no relevant audit information of which the Foundation’s auditors are unaware. This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

This report has been prepared in accordance with the special provisions relatingtosmall companies within Part 15 of the Companies Act 2006.

By order of the Trustees:

Neelam Devesher DL Chair

Paul Downes FCA ATII Trustee and Chair of Finance and Development Committee

Company Number 05442921

Charity Number 1111600

15

Community Foundation for Surrey Trustees’ Annual Report for the Year Ended 31 March 2025

Reference and Administrative Details

PATRON: Michael More-Molyneux, His Majesty’s Lord-Lieutenant of Surrey VICE PRESIDENTS: Shahid Azeem DL Matthew Bowcock CBE David Frank Peter Hampson CBE Ost! QPM Sir Stephen Lamport GCVO DL Dr Julie Llewelyn DL The Hon. Mrs Lavinia Sealy DL Gordon Lee-Steere DL Andrew Wates OBE DL Richard Whittington DL FCA Graham Williams Jim Glover OBE Nigel Gillott Bridget Biddell MRICS DL TRUSTEES: Neelam Devesher— Chair (appointed June 2024) Sir Denis O’Connor CBE Chair (stood down June 2024) Diana Whittington — Vice-Chair Peter Cluff Paul Downes FCA ATIl Elaine Tisdall (Resigned April 2025) Nick Brooks Ruchika Gupta (appointed June 2024) Carolyn Rich (stood down Sept 2024) Holly Murnieks (Stood down June 2024) Susan Sanderson (appointed Sept 2024) Tamalie Newbery (appointed Sept 2024) Roshan Bailey (appointed Sept 2024) David Stead (appointed Sept 2024) SECRETARY: Dr Rebecca Bowden - Chief Executive HON TREASURER: Paul Downes FCA ATII REGISTERED OFFICE: Export House, 4th Floor, 5 Henry Plaza, Victoria Way, Woking, GU21 6QX REGISTERED CHARITY NO: 1111600 REGISTERED COMPANY NO: 05442921

AUDITORS: Alliotts LLP, Chartered Accountants & Statutory Auditors 3 London Square, Cross Lanes, Guildford GU1 1UJ PRINCIPAL BANKERS: Handelsbanken Plc Andrews House, College Road, Guildford, Surrey, GU1 4RG

Company Number 05442921

Charity Number 1111600

16

Community Foundation for Surrey Independent auditors’ report to the members of Community Foundation for Surrey

~~Opinion~~

We have audited the financial statements of Community Foundation for Surrey (the ‘charity’) for the yea ended 31 March 2025 which comprise the Statement of Financial activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 he Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generall Accepted Accounting Practice).

~~Reel~~ Practice: and ~~2h~~[leeeeeiceelacetnenlalionee,] ~~its incoming resources and application of resources, for the year then ended:~~

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statement in the UK, including the FRC’s 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 basis for our opinion.

in auditing the financial statements, we have concluded that the Trustees’ use of the going concern basi of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to event or conditions that, individually or collectively, may cast significant doubt on the charitable company’s abili © continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described i he relevant sections of this report. ~~Other information~~ The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the othe information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent ith the financial statements, or our knowledge obtained in the course of the audit, or otherwise appea o be matenally misstated. If we identify such material inconsistencies or apparent material misstatements, 'e are required to determine whether this gives rise to a material misstatement in the financial statement hemselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

'e have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees’ report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements: and - the directors’ report included within the Trustees’ report has been prepared in accordance with applicable legal requirements.

Company Number 05442921

Charity Number 1111600

17

Community Foundation for Surrey Independent auditors’ report to the members of Community Foundation for Surrey

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free fro material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

~~Auditor's responsibilities for the audit of the financial statements~~

Our objectives are to obtain reasonable assurance about whether the financia! statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audi conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Company Number 05442921

Charity Number 1111600

18

Community Foundation for Surrey Independent auditors’ report to the members of Community Foundation for Surrey

fe assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: e making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and e — considering the internal controls in place to mitigate risks of fraud and non-compliance with law: and regulations.

Audit response to risks identified

here are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non ompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulato and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error a they may involve deliberate concealment or collusion.

==> picture [450 x 27] intentionally omitted <==

----- Start of picture text -----
A further description of our responsibilities is available on the Financial Reporting Council's website at:
httos:/Avww. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
----- End of picture text -----

Use of our report

his report is made solely to the charity's Trustees, as a body, in accordance with Chapter 3 of Part 16 of e Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an auditors’ report and for no othe purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone othe han the charitable company and the charitable company's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

==> picture [451 x 123] intentionally omitted <==

----- Start of picture text -----
tephen Meredith BA FCA DChA (Senior Statutory Auditor) ZBLISLEX..
or and on behalf of Alliotts LLP
Chartered Accountants 7 __
Statutory Auditor London Square
Cross Lanes ot |
Cifor
i Surre
— GU11UJ
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Company Number 05442921

Charity Number 1111600

19

Community Foundation for Surrey

Statement of Financial Activities (including income and expenditure account) for the Year Ended 31 March 2025

==> picture [518 x 281] intentionally omitted <==

----- Start of picture text -----
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Prior Year| |Unrestricted|Restricted|Endowment|Total|Funds|Unrestricted|Restricted|Endowment|Total|Funds| |income and Endowments|from:|Note|funds|funds|funds|2025|funds|funds|funds|2024| |Donations|2|£000120|£'0003,239|£000683|£0004,042|£000437.|£'0001,534|£'000148|£'0001,819| |Investments|3|105|495|-|600|36|566|-|602| |TOTAL|INCOME AND ENDOWMENTS|a225 ge3,734|683|es4,642|0|173|2,100|148|2,421| |Expenditure|on|Raising|funds:| |Fundraising cost of grants|and|donations|44|150|-|-|150|132|-|-|132| |Expenditure|on|Charitable|activities:|-|:|-|-|“|-| |Grants|44|-|1,969|-|1,969|-|2,025|-|2,025| |Grant-making|and|donor|services|44|425|-|-|425|396|-|-|396| |TOTAL EXPENDITURE|575|1,969|-|2,544|528|2,025|-|2,553| |Realised|gains/(losses)|on investments|-|-|9|9|=|-|{279)|(279)| |Unrealised|gains/(losses) on investments|1|-|-|(708)|(708)|45|-|1,582|4,597| |Net|gains/(losses)|on|investments|-|-|(699)|(699)|16|-|1,303|1,318| |Net|income/(expenditure)|and|net movement|in funds|(350)|1,765|(16)|1,399|(340)|75|1,451|1,186| |Transfers|between|funds:|17|525|1,111|(1,636)|-|389|192|(681)|te| |NET MOVEMENT|IN FUNDS|175|2,876|(1,652)|1,389|49|267|870|1,186| |Total|funds|brought|forward|299|1,145|17,458|18,902|250|878|16,588.|17,716| |Total funds|carried|forward|474|4,021|15,806|20,301|299|1,145|17,458|18,902|

----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in this year. All incoming resources and resources expended derive from continuing activities.

Company Number 05442921

Charity Number 1111600

20

Community Foundation Community Foundation forSurrey
Balance Sheet as at31 March 2025 Balance Sheet as at 31 March 2024
Unrestricted
Restricted		 Endowment Total Funds Unrestricted Restricted Endowment Total Funds
note Funds Funds Funds 2025 Funds Funds Funds 2024
FixedAssets: £000 £°000 £°000 £'000 £000 £°000 £'000 £000
Intangible Assets 26 26 15 15
Tangible Assets
Investments		 10
1		 13
79		 -
-		 -
15,759		 13
15,838		 4
164		 -
-		 -
17,444		 4
17,608
Total Fixed Assets 118 - 15,759 15,877 183 - 17,444 17,627
~~a~~
~~-~~
Current assets:
Debtors 12 15 159 7 181 18 163 2 183
Cash at bank 13 447 4,032 40 4,519 204
~~:~~		 983 12 1,198
Total Current Assets 462 4,191 47 4,700 222 1,146 14 1,381
Liabilities:
Creditors falling due within oneyear 14 ~~(21)~~ ~~(170)~~ ~~-~~ ~~(191)~~ ~~(21)~~ ~~(1)~~ ~~-~~ ~~(22)~~
NetCurrent Assets 441 4,021 47 4,509 201 1,145 14 1,360
Creditors falling due after oneyear (85) - - (85) (85) - - (85)
The funds ofthe charity: NetAssets ~~a~~
———
~~74~~		 ~~ee~~—
~~4021~~		 ~~15,806~~ ~~20,301 ~~ —
~~——~~
~~————SS—~~
~~299~~
~~1145~~
~~17,458~~
~~18,902~~
Unrestricted income fund 474 - - 474 299 - - 299
Restricted income funds - 4,021 - 4,021 - 1,145 - 1,145
Endowment Funds - - 15,806 15,806 - - 17,458 17,458
TotalFunds 19 474 4,021 15,806 20,301 299 1,145 17,458 18,902

The notes at pages 26 to 36 form part of these accounts.

The accounts were approved and authorised for issue by the Board on a5 [04 ( 2° Ls “pleadNeelam Devesheryi Paut Downes(VuGFCA hireATII Chair Trustee and Chair of Finance and Development Committee Company Number 05442924

Charity Number 1111600

21

Community Foundation for Surrey

Summary Income and Expenditure Account for the year ended 31 March 2025

==> picture [392 x 126] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£°000|£°000| |Total|income from continuing|operations|3,958|2,273| |Total|expenditure|on|continuing|operations|(2,544)|(2,553)| |Net (expenditure)|for the|year|before|transfers|and| |investment|gains/(losses)|1,414|(280)| |Investment gains/(losses)|-|15| |Transfers|from expendable endowment|1,636|581| |Net income|(expenditure)|for the|year|3,050|315|

----- End of picture text -----

Statement of Cash Flows for the year ended 31 March 2025

==> picture [440 x 327] intentionally omitted <==

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Total|Funds|Total|Funds| |2025|2024| |Note|£000|£°000| |Net cash|used|in|operating|activities|16|1,594|(373)| |Cash|flows|from|investing activities:| |Proceeds|from|sale|of|investments|1,498|685| |Purchase|of|investments|(427)|(318)| |Decrease/(Increase)|in|cash|held|by|investment|managers|-|-| |Purchase|of equipment|(23)|(1)| |Net|cash|provided|by|investing|activities|1,048|366| |Cash|flows|from|financing activities:| |Receipts|of new Endowment|683|148| |Net|cash|provided|by|financing|activities|683|148| |Decrease/(Increase)|in|Endowment|debtors|(5)|13| |Increase/(Decrease)|in|Endowment creditors|-|20| |Change|in|cash|and|cash|equivalents|in|the|year|3,320|174| |Cash|and|cash|equivalent|brought|forward|1,199|1,025| |Cash|and|cash|equivalents|carried|forward|4,519|1,199|

----- End of picture text -----

Company Number 05442921

Charity Number 1111600

22

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

1 Accounting Policies

The Community Foundation for Surrey is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Export House, 4th Floor, 5 Henry Plaza, Victoria Way, WOKING, GU21 6QX

a) Basis of Preparation and assessment of going concern

The financial statements of the Foundation, which is a public benefit entity under FRS102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the 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 (FRS102) (Charities SORP (FRS102)) and the Companies Act 2006.

The Financial Statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these Financial Statements are rounded to the nearest £’000.

The Trustees consider that there are no material uncertainties about the Foundation’s ability to continue as a going concern.

b)

Company Status

The Foundation is a company limited by guarantee. The members of the company are the current Trustees named on page 16. In the event of the Foundation being wound up, the liability in respect of the guarantee is limited to £10 per member of the Foundation.

Cc) Going Concern Policy

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

d) Fund Accounting

Unrestricted Funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes.

Restricted Funds are funds which are to be used in accordance with specific restrictions imposed by donors. These mainly comprise Flow-through Funds that are used for grant-making within a short time after the receipt of the donation, generally not more than two years.

Endowment Funds represent those expendable funds that are held for the long term for purposes in accordance with the objects of the Foundation and in line with the relevant Fund Agreement. Income arising from the Funds is used to support grant-making and, in addition, capital from the Funds may be distributed from time to time, provided this is permitted by the Fund Agreement.

The administration of Flow-through and Endowment Funds is charged against the specific Fund.

e) Incoming Resources

Company Number 05442921

Charity Number 1111600

23

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

All incoming resources are included in the Statement of Financial Activities when the Foundation is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is either when the Foundation is notified of an impending distribution by an appropriate person or when the legacy is received.

Gifts in Kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Donated facilities are included at the value to the Foundation where this can be quantified and a third party is bearing the cost.

Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. If part of a grant is deferred, it is recognised as deferred income rather than being deducted from the asset’s carrying amount.

e) Resources Expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Foundation to that expenditure or it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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. For more information on this attribution refer to note (k) below.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Grant Making & Donor Development costs are those costs incurred directly in support of expenditure on the objects of the Foundation. Governance costs are those incurred in complying with statutory and legal requirements.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Foundation. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant, and the Trustees have agreed to pay the grant or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Foundation.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient and a constructive obligation has arisen as a result.

f)

Donated goods and services

The valuable services provided by volunteers are not incorporated into these financial statements, but the Trustees recognise the considerable contribution they make and thank them for their support.

Where services are provided to the Foundation as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the Foundation. Donated services and facilities are detailed on page 11.

g) Pension Contributions

Company Number 05442921

Charity Number 1111600

24

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

The Foundation contributes to an automatic enrolment workplace pension scheme with NEST or to individual personal pension schemes for the benefit of its employees. The cost of contributions is charged in the statement of financial activities as they accrue.

h) Leases

The Foundation has no operating leases.

i) Tangible Fixed Assets

Individual fixed assets costing £350 or more and having an expected useful economic life over one year are capitalised at cost.

Tangible fixed assets are depreciated on a straight-line basis over their expected useful economic lives as follows:

Office Furniture — Over 3 years on a straight-line basis. Computer Equipment - Over 3 years on a straight-line basis.

ji) Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessaryto provide support in the form of a finance function, premises, communication and information systems support, and similar. Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support and governance costs are allocated to charitable activities and fundraising costs based on the proportion of staff time estimated to be spent on the relating activities.

k) Financial instruments

The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Foundation’s balance sheet when the Foundation becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Company Number 05442921

Charity Number 1111600

25

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

2 Analysis of Donations Received

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

) Critical accounting estimates and judgements

In the application of the Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Valuation of fixed asset investments

A key accounting estimate is the value at which Trustees recognise investments. The risk of misstatement is mitigated by the use of investment managers who publish a portfolio valuation. Listed investments are valued by reference to their market value prevailing at the balance sheet date.

Depreciation of tangible fixed assets

Depreciation is provided against assets held by the Foundation over the life of the asset with consideration made of the residual value left at the end of this life. The life is determined by the lease terms or the usual usable lifespan of similar items seen in the Foundation. The residual value is based on the value of similar items at the end of their useful lives in combination with the Foundation’s knowledge of specific factors that may affect this valuation.

Prior Year
Unrestricted Restricted Endowment
Source Funds Funds Funds Tota! 2025 Total 2024
£'000 £'000 £000 £'000 £'000
Public Sector - 1,741 90 1,831 442
Individuals 10 444 256 710 429
Charitable Foundations 17 779 308 1,104 494
Corporate Donors 45 275 29 349 406
Donated Senices and facilities 48 - - 48 48
120 3,239 683 4,042 1,819

Company Number 05442921

Charity Number 1111600

26

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

Donated services and facilities included office costs totalling £47k and £1.5k for payroll services.

3 Investment income

Total 2025 Total 2024
£'000 £'000
Interest Receivable 105 32
Dividends receivable 495 570
600 602

4.1 Resources Expended — Unrestricted Funds The breakdown of support costs and how these were allocated between governance and other support costs is shown in the table below:

Grant making& Donor
Unrestricted costs Raising Funds Development Total 2025 Total 2024
£'000 £'000 £'000 £'000
Office and Admin 25 58 83 76
Staff Costs 112 297 409 367
Depreciation (note 10) 1 3 4 3
Governance Costs 5 26 31 35
Sub Total 143 384 527 480
Gifts in Kind ~~oT~~ ~~AB~~ ~~AB~~
TOTAL 2025 150 425 575 528
TOTAL2024 132 396 528

4.2 Governance Costs Analysis

Governance costs: 2025 2024
£'000 £'000
Professional Fees 1 1
Auditor's remuneration 9 9
Staff costs 21 25
31 35

4.3 Allocation of Governance costs

The total support cost attributable to charitable activities is apportioned by staff time and a percentage of resources spent. The Trustees have decided to meet all governance costs from unrestricted funds and so no allocation or charge is made to restricted funds for any governance related costs.

2025 2024
£'000 £000
Grantmaking and donor development 26 30
Fundraising ~~5~~ ~~5~~
TotalAllocated 31 35

Company Number 05442921

Charity Number 1111600

27

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

4.4 Resources Expended - Grants

2025 2024
£000 £°000
Total awarded (396) 2,892 2,093
Fund expenses 74 2
Grants returned during the year - 18 (40)
Net amount for multi-year grants - 979 (30)
Grants transferred between funds
Net amount awarded 1,969 2,025
5 Net Incoming/(Outgoing) Resources
These are stated aftercharging:
2025 2024
£000 £000
Auditors remuneration 9 9
Depreciation on owned assets 3 3
6 Analysis ofstaffcosts
2025 2024
£000 £000
Salaries 377 342
Social Security costs 32 29
Pension Costs 21 19
Agency staff& Consultants - -
Recruitment Costs - (1)
430 389

'

There was one employee whose emoluments (as defined for taxation purposes) amounted to between £80k-£90k in the year (2024: £70-£80k - 1).

Company Number 05442921

Charity Number 1111600

28

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

7

8

9 Taxation

The key management personnel of the Foundation comprise the Trustees, the Chief Executive, Finance Manager and the Director of Grant-making. The total employee benefits of the key management personnel of the Foundation were £181k (2024: £187k).

Staff numbers

The number of employees during the year is provided below. The average numberoffull-time equivalent employees is given in brackets.

2025 2024
Fund raising 3 (3) 3 (3)
Grant-makingand donordevelopment 9(7) 8(6)
12(10) ~~11(9)~~

Trustees’ Remuneration

The Trustees neither received nor waived any emoluments during the year (2024: nil).

No out-of-pocket expenses were paid to any Trustees during the period (2024: nil).

No liability to UK corporation tax arose as the Foundation is exempt from corporation tax onits charitable activities.

Company Number 05442921

Charity Number 1111600

29

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

10a Intangible Assets

10b Tangible Assets

Core Business Core Business
System Total
£000 £000
Cost:
At 1 April 2024 15 15
Acquisitions 11 11
Disposals - -
At 31 March 2025 26 26
Depreciation:
At 1 April 2024 - -
Chargeforyear - -
Disposals - -
At 31 March 2025 - -
Net book value:
At 31 March 2025 26 26
At 31 March 2024 15 15
Computer Equipment Total
£000 £'000
Cost:
At 1 April 2024 12 12
Acquisitions 12 12
Disposals - -
At 31 March 2025 24 24
Depreciation:
At 1 April 2024 8 8
Chargeforyear 4 4
Disposals - -
At 31 March 2025 11 11
Net book value:
At 31 March 2025 13 13
At31March2024 4 4

Company Number 05442921

Charity Number 1111600

30

11

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

Investments

Investments
Investments Cash movement Total
£'000 £'000 £'000
At 1 April 2024 17,608 17,608
Additions at cost 427 - 427
Disposals at carrying value (1,498) - (1,498)
Unrealised gain/(loss) (708) - (708)
Realised gain/(loss) 9 - 9
Rebate - 25 25
Divs/Int - 473 473
Transfers (498) (498)
At 31 March 2025 15,838 ° 15,838
Historic cost of investments: £12,039,378 (2024: £13,110,065).
2025 2024
Investmentfundsare heldmanaged by: Unrestricted Restricted Endowment Total Total
£000 £'000 £000 £000 £'000
CCLAInvestment Management Ltd -COIFCharities
Investment Fund 79 - 15,759 15,838 17,608
79 - 15,759 15,838 17,608
2025 2024
Analysis ofInvestments Unrestricted
£000		 Restricted
£'000		 Endowment
£'000		 Total
£°000		 Total
£000
UK Equities 6 - 1,261 1,267 1,116
NonUKEquities 45 - 8,983 9,028 11,470
Government Bonds - - - - 4,608
CorporateBonds 10 - 2,049 2,059 589
Property
Cashondeposit		 4
8		 .
:		 788
1,576		 792
4,584		 809
4,798
Other liquidinvestments ~~6~~ ~~-~~ ~~1,102~~ - ~~1,108~~ ~~218~~
Total ~~79~~ ~~:~~ ~~15,759~~ ~~15,838~~ ~~17,608~~
Debtors
Unrestricted Restricted Endowment 2025Total Total 2024 Total
£000 £'000 £°000 £'000 £'000
Prepayments 11 - “ 1 12
Accrued income 1 159 7 167 167
Otherdebtors ~~3~~ ~~-~~ ~~-~~ ~~3-~~ ~~4~~
15 159 7 181 183

Historic cost of investments: £12,039,378 (2024: £13,110,065).

12 Debtors

Accrued income included £124k (2024 — £167k) investment income.

Company Number 05442921

Charity Number 1111600

31

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

13 Cash at bank

Flow-through Funds and support costs are retained in bank accounts. Monies not immediately required are held on deposit where possible.

14 Creditors: amounts falting due within one year.

2025 2024
Unrestricted Restricted Endowment Total Total
£'000 £'000 £000 £000 £'000
Trade creditors 2 1 - 3 2
Grants payable - - - - -
Accruals 10 169 - 179 10
Payroll taxes 9 - - 9 8
Pensions -
~~rN~~
21		 -
170		 -
~~—~~
-		 -
~~—~~
191		 2
~~———~~
22
Creditors: amountsfalling fallingdueoverone year
2025 2024
Unrestricted Restricted Endowment Total Total
£ £ £ £ £
Grants payable - - “ - -
Deferred Income 85 85 85
85 - - 85 85

14.1. Creditors: amounts falling due over one year

15 Analysis of Net Assets between Funds

2025 2024
Unrestricted Funds Restricted Funds EndowmentFunds Total Total
£°000 £'000 £'000 £000 £000
IntangibleAssets 26 - - 26 15
Tangible FixedAssets 13 - - 13 4
Investments 79 - 15,759 15,838 17,608
Current Assets 462 4,191 47 4,700 1,382
Creditors ~~(106)~~ ~~(170)~~ ~~-~~ ~~(276)~~ ~~(107)~~
474 4,021 15,806 20,301 18,902

16 Reconciliation of net movement in funds to net cash flow from operating activities.

2025 2024
£7000 £°000
Net movement in funds 1,399 1,186
Adjustments for:
Endowment Donations (684) (148)
Depreciation charges 4 3
(Gains)/Losses on investments 699 (1,318)
Decrease (Increase) in operating debtors 8 (78)
Increase (Decrease) in operating creditors 168 (19)
Netcashusedinoperatingactivities 1,594 (373)

Company Number 05442921

Charity Number 1111600

32

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

17 Transfers

Unrestricted Funds Restricted Funds Endowment Funds 2025 Total
£7000 £000 £7000 £7000
Contribution tosupport costs 506 (501) (5)
Grants from expendableendowment - 1,343 (1,343)
Net Indexed Gain distribution 19 136 (155)
Other 133 (133)
§25 1,111 (1,636)

Contribution to Community Foundation support costs

£506k (2024 - £370k) was transferred from the Restricted and Endowment funds in favour of the Unrestricted fund as a contribution towards support costs for maintaining the funds in accordance with the donor agreements.

Transfers between funds — Other

A total of £1,481k (2024: £556k) was transferred from endowment funds to the restricted funds for the purposes of grant-making.

Transfers between funds - Net Index Gain

A total of £155k (2024: £25k) was withdrawn as net indexed gain from Community First Endowment Funds in accordance with the relevant fund agreements which represents an amount that can be used for

grant-making purposes.

18 Related Party Transactions

There were no related party transactions in the reporting period which require disclosure.

19.1 Description of Funds

As page 9 shows, 57 Bespoke Funds have been established through individual and family giving, legacy gifts and in memoriam donations: corporate giving and partnerships with charitable trusts. A further 32 Funds represent Collective Giving by a wider group of local donors, united around a shared interest.

Community First and Grassroots Endowment Funds refer to funds which benefitted from Endowment Match Challenge funding from programmes under the same names, run by the Government’s Office of Civil Society (formerly Office of the Third Sector).

Further information about our funds can be found on our website https://www.cfsurrey.org.uk/our-funds

Company Number 05442921

Charity Number 1111600

33

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

19.2 Restricted (Flow-through and Grants Revenue) Funds

Large Flow-through funds include those whose transactions are defined as material during the financial year. These are detailed below.

==> picture [418 x 585] intentionally omitted <==

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Transfer-| |Asatl|9|sng|lvestment|te|Contribution|stern|As at 31| |April 2024|Income|HPEMEPO|10 CFS|(note|March 2025| |(Grants)|tN|17)| |£'000|£000|£000|£'000|£000|£000|£'000| |Arabella & Julian Smith Family Trust Fund|n|.|5|6)|(6)|;|16| |Cyrus Fund|67|60|:|(3)|-|-|-| |Green Shoots Fund|0|94|;|(62)|im|;|4| |Gatwick|Foundation|Fund|0|67|-|(59)|(8)|-|-| |Guildford Philathrophy|33|147|19|(158)|(13)|-|8| |Marjorie Jaye Fund|14|62|-|(52)|(8}|-|15| |Mental Health Scale Up Fund|14|1,900|’|40|(493)|(177)|1,307|2,591| |Netherby|Trust Fund|31|107|-|(81)|(13)|-|4B| |Sente|Software Fund|36|40|-|(35}|(6)|-|35| |Shepperton|Studios Community &|Education| |Fund|3|82|.|(15)|(9)|:|61| |Surrey|Coronavirus|Response Fund|- Phase2|0|.|-|-|.|-|0| |Surrey Heritagefor|All|0|125|.|-|125| |Surrey|Young People's|Fund|1|35|-|(28)|(4|:|B| |The Fidelty UK Foundation|Surrey|Community| |Development Fund|55|-|-|(76)|-|-|(21)| |The Peter Harrison|Foundation Community| |Fund|44|15|-|(46)|(9)|-|64| |Thermotech Strategic Fund|45|:|:|(19)|(14)|-|90| |Winter|Poverty|31|2|-|(32)|(0)|-|3| |Woking|Council Fund|0|0|-|0|0|-|-| |Total Large Flow Through funds|449|-|2,960|84|(1,224)|(297)|1319|3,291| |Grant Revenue &|Flowthrough|Funds|489|279|287|(745)|(204)|292|399| |Total Funds|933”|3,239|371|(1,969)|(504)|1,611|3,690| |Accrued|Investment Income|207|-|124|:|-|-|331| |TOTAL RESTRICTED FUNDS|1,145|3,239|495|(1,969)|(501)|1,611|4,021|

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*Grants Revenue Funds receive the distributionsfrom a linked Endowment Fund, along with any other donations made during the year for grants. Company Number 05442921 Charity Number 1111600

34

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

19.3. Endowment Funds as at 31 March 2025

A summary of endowment funds by type are presented in the tables below.

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |At 1 April 2024}|Donations|Gainsi(losses)foeatinari Ieceon|ContributionTransfer— to|Bi SN Marsh| |Inv man. Fees|__| Foundation|(note|17|ei| |e090| |Endowment|Funds|(includin|e000|[e000]|000|||00| |“=e|pe|ff|wm|fm|_| |Asat|Donation|Gain/Loss|Transfer|As at| |01/04/2024|between|31/03/2025| |funds| |£'000|£'000|£'000|£'000|£'000| |Arabella|and|Julian|Smith|Family|Trust|506|-|(21)|-|10|475| |Fund| |Bryn|Siriol|Endowment|Fund|938|-|(39)|-|12|887| |Carers|Support|Guildford|Endowment|244|-|(10)|-|5|229| |Carrington|Fund|360|-|(15)|-|7|338| |Chiddingfold|Endowment|Fund|219|1|(9)|-|3|207| |Chobham|Bly|Lawson|Endowment|Fund|245|-|do)|-|235| |DancerCommunity|First|Fund|1,909|-|(80)|-|43|1,786| |Dora|Fedoruk|Mem|Community|Fist|Fund|524|-|(22)|-|502| |East|Court|Fund|346|-|(14)|-|.|a|325| |Guildford|Philanthropy|Endowment|628|35|(28)|-|11|624| |Haslemere|Community|Endowment|1,249|-|(52)|-|40|1,157| |Hezelinaeh Endowment Fund|239|-|(10)|-|5|225| |Horsleys|Endowment|Fund|310|2|(13)|-|16|284| |Kaye|Famiy|Fund|827|-|(34)|-|17|776| |Mamie Molan|Endowment|Fund|261|-|Q))|-|5|245| |Mental|Healthe|Scaleup|Fund|1,902|300|(28)|(1,307)|868| |NIBS-Wells|Endowment|Fund|279|-|(12)|-|6|262| |One &|35|Communly|First|Fund|525|-|(22)|-|503| |Orchid|Environmental|Trust|Fund|233|>|(10)|-|5|219| |Perros|Trust Community|First|316|-|(13)|-|15|288| |Runnymede|Endowment|Fund|310|-|(13)|(2)|296| |Surrey|Community|Fund|738|-|(1)|-|694| |Surrey|Education|Fund|420|90|(21)|-|9|479| |Surrey|Heath|(Invested)|Endowment|59|-|(2)|0|56| |Surrey|Supported|Employment|221|-|(9)|(24)|188| |Tandridge|Endowment|Fund|276|5|(13)|-|3|264| |The|Thomas|Trust|Community|Fist|Fund|190|-|(8)|-|182| |Total|Endowment|funds|>£200,000|—-4407%6—~C—“‘;OO!!C(U!”!”!!CUSSO)!!CUSAY!!!!”«~S|OA| |Total|Endoowment|funds|<€200,000|3,182|251|(149)|(72)|3,212| |Total|Endowment Funds|—|17458|6838|99%|636)|15,806,|

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Company Number 05442921

Charity Number 1111600

35

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

19.4 Flow-through Funds — previous year at 31 March 2024

Large Flow-through funds include those whose transactions are defined as material during the financial year. These are detailed below.

==> picture [462 x 424] intentionally omitted <==

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Transfer|-| |Asat01|i,|investment|Recourse|Contribution|iecmeel|As at 34| |April 2023|Income|to CFS (note|March 2024| |(Grants)|1)|17)| |£'000|£'000|£'000|£'000|£'000|£000|£'000| |Arabella & Juian Smith|Family Trust Fund|8|0|5|(24)|(6)|.|4| |||+,| |‘Borrows|Charitable Trust Fund|3|79|.|(68)|(9)|.|P| |Cyrus Fund|23|50|-|0|:|:|:| |Green Shoots Fund|1|98|“|(86)|(12)|-|=| |Gatwick|Foundation Fund|33|100|;|(121)|(12)|-|:| |Netherby|Trust Fund|94|81|-|(131)|(10)|-|31| |Sente Software|Fund|34|40|-|(34)|(5)|-|36| |Surrey Young|People's Fund|76|28|-|(31)|(3)|:|70| |The|Fidelity|UK|Foundation Surrey| |Community|Development Fund|7|75|.|(38)|(9)|-|55| |The|Peter|Harrison|Foundation|Community| |Fund|42|50|.|(42)|(6)|:|44| |Thermotech|Strategic|Fund|19|.|.|(18)|(6)|-|45| |Winter|Poverty|34|175|zs|(163)|(14)|-|31| |Woking|Council Fund|0|1640|=|(145)|(20)|:| |Total|Large Flow Through funds|371|989|5|(882)|(117)|0|385| |Grant Revenue & Flowthrough Funds|430|545|411|(1,142)|(252)|0|(8)| |Total Funds|801|1,534|436"|(2,025)|(370)|562|939| |Accrued Investment Income|77|-|130|-|:|-|207| |TOTAL|RESTRIC TED FUNDS|878|1,534|.|566|(2,025)|(370)|—EEE562|1,145__|

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*Grants Revenue Funds receive the distributions from a linked Endowment Fund, along with any other donations made during the year for grants.

Company Number 05442921

Charity Number 1111600

36

Community Foundation for Surrey Notes to the Financial Statements for the Year Ended 31 March 2025

19.3. Endowment Funds in previous year as at 31 March 2024

Asummary of endowment funds by type are presented in the tables below.

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |At 1 April 2023||Donations|ieeeains!|contributionT|r- to||||nae| |ee||||Inv|man. Fees|||Foundation|(note|17| |£000|£000|£000|£'000|£'000| |as at 01/04/2023|donation|gain/loss|transfer|asat 31/03/2024| |between| |funds| |£'000|£'000|£'000|£'000|£'000| |Arabella|and|Julian|Smith|Family|Trust|484|.|2|-|506| |Fund| |Bryn|Siriol|Endowment|Fund|$83|-|56|-|938| |Carers|Support|Guild ford|Endowment|234|-|10|-|244| |Carrington|Fund|348|-|15|-|360| |Chid ding|fold|Endowment|Fund|206|1|iW|-|219| |Chobham|Bly|Lawson|E ndowmentFund|226|-|19|-|245| |DancerCommunity|First|Fund|1,736|=|173|-|1,909| |Dora|Fedoruk|Mem CommunityFist|Fund|477|-|48|-|524| |EastCourtFund|331|-|15|-|346| |Guildford|Philanthropy|Endowment|9|71|28|-|628| |Haslemere|Community|Endowment|1,175|-|33|-|1249| |Fund| |Hazelhurst£|ndowment|Fund|229|«|10|-|239| |Horsleys|Endowment Fund|290|2|18|:|310| |Kaye|Famiy|Fund|793|-|34|-|$27| |Mamie|M|olan|Endowment|Fund|250|-|1|-|261| |Mental|Healthe|Scaleup|Fund|1,941|=|77|(116)|1,902| |NIBS-W|ells|Endowm entF und|267|-|12|279| |One&|35|Communly|FirstFund|438|2|4§|-|525| |Orchid|E|nviron|mental|Trust Fund|224|-|10|.|233| |Perros|Trust CommunityFirst|304|-|13|-|316| |Runnymede|EndowmentFund|293|-|23|(6)|310| |Surrey|Community|Fund|704|‘|34|738| |Surrey|Education|Fund|402|:|18|-|420| |Surrey|Heath|(Invested)|E|ndowment|ns|.|13|(£83)|59| |Surrey|Supported|Employment|25|-|19|(14)|221| |Tandridge|Endowment|Fund|256|-|20|276| |The|Thomas|Trust|Community|Fist|Fund|173||17|190| |T|otalE|nd|owm|ent|funds|>£200,000|—|4367s—”t—“‘séSOSCSC;SHSCO!”#;~;~”!”!”””!~C«SSMFOU!!!!!!!!!UGS)UU!!!!!!!!«SSDI| |T|otal|E|nd oowment|funds <£200,000|2.915|74|456|63)|3,182| |Total|Endowment|Funds|3G|88B|«4B|t—<ts‘“‘sé‘“s;é‘«z;‘WS”:~<“‘SOC‘“SBXYS;CO“‘(‘(‘C(NCSN’COC;;;‘*U‘SGSSS#C™|

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Company Number 05442921

Charity Number 1111600

37