COLLYER BRISTOW Coombe-Tennant Foundation Trustees, Report & Financial Statements 1 January 2023 to 31 December 2023 Charity No. 1113080 38385.1 COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 Page Reference and administrative details of the Foundation, it5 trustees and adviser5 Trustees. Report Independent Exarninerfs Report Statement ol Financial Activit185 Balance Sheet Notes lo the Financial Statements 12 Investment 5ch8dul8 (Not filed with the Chèrity Commission) 13-14 COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION ITS TRUSTEES AND ADVISERS Founder Jenifer Margaret Coombe-Tennanl (died 18 Nov 20121 The Board of Trustees Susanna Margaret Morgan-williams Chades Serecold Coombe-Tennant John Ashley Coombe-Tennant Mark Henry Coombe-Tennant Rosalie Janet Hoffmann Charlty reglstered number 1113080 Principal Office clo Collyer Brislow LLP Sl Martin's Court 10 Palernosler Row London EC4M 7EJ Indepgndont Examiners James Angus Burnett Martin and Company 25 Sl Thomas Street Winchester Hampshire S023 9HJ Bankers National Westminster Bank PIC City of London Office P O Box 12258 1 Princess Street London EC2R 8BP Solicitors Collyer Brislow LLP Sl Martin's Court 10 Paternoster Row London EC4M 7EJ Investment manager Cazenove Capital Management 1 London Wall Place London EC2Y SAU COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 TRUSTEES, REPORT The Trustees present their annual report together with the financial statements of the Coombe- Tennant FoLJndalion (the Foundationl for the year from 1 January 2023 to 31 December 2023. The Trustees confirm that the report and financial statements of the Foundation comply with the Charities Act 2011, the requirements of the Foundation's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements. Status and admlnlstratlon The Foundation was established by a Declaration of Charitable Trust dated 20 January 2006 and is registered with the Charity Commission under charity number 1113080. The Foundation's governing instrument is ils Trust Deed which allows for any activities covered by the Foundation's objectives, with no specific restrictions. Charitable objectives for the public benefit The objectives of the Foundation are to provide funds for general charitable purposes as the Trustees shall from time lo lime think fil. The Trustees Confirm that they have complied with the duty in section 17 of the Charities Act 2011 and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives and in planning future aclivib'es and setting the grant making policy for the year. Governance The management of the Foundation is the responsibility of the Trustees who a￿ elected and co-opted under the terms of the Trust Deed. The Trustees meet at least once a year lo discuss and implement policy. There were no related paty transactions for the year ended 31 December 2023. Financial review As at 31 December 2023, the market value of investments was £1,487,090131 December 2022 - £1,469,917). Income from investments lotalling £26,473 {2021 £25,957) was received. As at 31 December 2023 the Foundation had net funds of £1,501,784. COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 Review of activities and achievements There were 3 payments made in the financial year ranging from £5,000 10 £2,500 to Community Foundation for Surrey. Zane Zimbabwe - A National Emergency and SLJssex Federation of Young Farmers. These are listed on page 11, note 6 of the accounts. There is also a regular payment of £2,500 each quarter to the Treehouse Trust lo support Autistic Children. Investment pollcy As at 31 December 2023, all cash funds were held on the current account with National Westminster Bank Plc. The Trustees, investment policy is lo aim for safety commensurate with immediate and planned spending requirements. The Trustees decided to invest some of the cash not immediately required for the purposes of charitable grants and expenses and these investments are managed by an independent investment manager in conformity with the Foundation policy and its constitution. The holdings comprise of a range of equities, bonds and allernalive investments which provide for a broad investment spread and consequently the risk is spread amongst a cross section of different range of investments. Resgrvos and funding The Trustees are maintsining sufficient cash reserves to meet current and planned expenditure. Trustees The Trustees who served during the year were.. Susanna Margaret Morgan-williams Charles Serecold Coombe-Tennant John Ashley Coombe-Tennant Mark Henry Coombe-Tennanl Rosalie Janet Hofftnann Appointment and induction of Trustees In appointing a new Trustee, the Trustees will lake into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or management of the Foundation. COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 Risk management The Trustees are responsible for the management of the risks faced by the Foundation. All major risks lo which the Foundation is exposed have been reviewed and systems have been established lo mitigate these risks. COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Ac￿pIed Accounting Praeticel- The law applicable lo Charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that period. In preparing these financial stalemenls, the Trustees are reqUI￿d lo". select suitable accounting policies and then apply them consislenlly., obsetve the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent", slate whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Foundation will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the Foundation and enable them to ensure that the financial stslemenls comply wrth the Charities Act 2011, the applicable Charities (Accounts and Reportsl Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Iruslees.. S Morgan-williams 8-10-24 Susanna Margaret Morgan-williams Date IyDF.P￿.NI)Tr.N'I' b.XAM b.R'S Rb".Pl)R'l I'() -I'i Ib: 'I'Rus'I'b'.b's i)I,' C()OMBTr: 'I'b.NNAN'I' ￿(}UNDA"1'1￿.y ()R 'l'l ITr: Yb.AR LNDb'l) 31. 1)I,:CTr:MBli.R 2023 rcporl 10 tIIC Lliari(y Irusl¥LS Oli Iiiy exaininalion ul- Il)e aLC(ILiiils of tliL Lliai'ily lui. Ilic ycar cndcd 31 Dccciiibci. 2023 whicli ai'c sci out on pab?es 7 10 12. Re%pun$ibilitics and basis of report As Ihe charity's Iruste-s you arc rcsponsiblc for ilic pi'cparalivn of the accnun(8 in accoi'dancL willi thc rcquirLITJciils ol- Ihc Charilics Acl 2011 {'Ilic ALI'I. I'¢porl in r¢4pLCI of niy cxaininalioii ol. Ilic cliarity's 8CC()I1111% C1¢ ri'led oiil Iiiidei. SLclioii 14$ ()( I hL ALt dnd in can'ying) uiil Iny Cxdniiiiation I havc lullowcd all thu applicable Dii'cctioiis &?ivLn by ili¢ ('liariiy C.ommis.%ion uiidcr scclion 145{51(bl i)r IhL ALt. Iiidopondent cxamiiier's statcment I have Loinplcl¢d Iny exainiiialiuii. I confinn Ihai no) inatvrial InallLrs havc Loirc Io Iiiy dllciilion iii connccii()n wilh thc exaniinalion giving inc eausc io bclicvc ihal in any inaleridl respcLt= accounliiig records were not kept in rcspccl of Ihe chariiy as rcquircd by scciion 130 of 111c Aci. or tlie accounls do Iioi aLLord wilh ihosL rccords,. oi. tlic accounts do nol comply willi ihe applicable I'eguiieiiienls conw.iTriinb) ibL coiiluil o)( dLLuuiils SL'I uul In Ilic Cliarilics {ALcounl8 aiid Il¢p()rlsl Ilckulaliuii.8 20118 1)Ih¢i- Ili 110,0871 13,8181 Gains and losses on investment assets 10. 13 20.716 145.851 Nat Movèmènt in Funds 10,629 1149,6691 RECONCILIATION OF FUNDS Total funds brought forward 1,491,155 1,640,824 Fund balane8S at 31 Deeemb8r 2022 13 1,501.784 1,491.155 The notes on pages 910 12 form part of these finanaal statements. COOMBE-TENNANT FOUNDATION TRUSTEES, REPORT & FINANCIAL STATEMENTS BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Investments 10 1,487,090 1,469,917 Current assets Cash at bank and in hand 19,872 21,966 208 Debtors 12 19,872 22,174 Creditors.. atnount5 falling due wthin one year 15,1781 19361 Net Current assets 14,694 21,238 Total assèts lèss eurrènt liabiliti•s 1,501.784 1.491,155 CHARITY FUNDS Unrestricted funds 13 1,501,784 1,491.155 TOTAL FUNDS 1,S01,784 1,491,155 For and on behalf of the Coombe-Tennant Foundation 8-10-24 Date S Morgan-williams Susanna Mar9aret Morgan-williams Trustee COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 NOTES TO THE ACCOUNTS 1 A¢¢ountlng pollcl88 1.1 Ba$18 of prep•rlng the thnan¢lal stotements The financial $18lemenls of the Found8lion. ￿ttl¢h is a publi¢ benefil enlily. h8ve been prepare(I In accordan￿ with the siaiemenl of Re¢omm6ndad Pr8cii¢e.' Accounting 8nd R&portlng by Charllies preparlny Ih6ir 8ccounis in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeGtive 1 January 20191. the Financ131 Reporting Standard appIl￿ble in the UK and Republic of Ireland IFRS 1021, the Chariiie5 Act 2011 anl UK Generally AcTrpled ProctiTr as il applies from 1 January 2015. The financial statements have been prepared lo give a Irue Ènd fair, ¥￿W and have departed from the Charit￿5 (Accounts and Report51 Regulations 2008 only to the extent required to provide a'true and fair ¥ievK. This departure has Involved following Accounting 8nd Reporting by Charities. Slalemenl of Recoynmended Pr8¢litr applicable lo ch8ri1*s preparing their accounts In accordance with the Finsnclal Raportiny siand8rd applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reportlng by Charities." Statement of Recommended Practice effective from 1 April 2005 vthich h35 Sin￿ been wilhdrawn. 1.2 In￿m& All income is recognised In the Slalemenl of Fin8ncial Activities once the char￿1 has enlillemenl of the funds, It is probablt th81 the income will bt received and Ihe amount can bè mèasured reliably. 1.3 Expendlture LiabililBs are recognised Ss éxpenditure Ss soon Ss there Is a legal or ¢onslru¢llve obligation commllling the Foundation to thai expènditure, it is probable thai a transfer of Èconomic benefits will be reouired in settlement and the amounts of the obligation can be measured reliabily. Expenditure 15 accounted for on an accruals basis and has been dassified under he8ding5 that aggregate all w51 rel?ling lo the category. Where cosls c8nnol be direct 8llribuled to part1￿lar headings they have been allocal6d to sclivllles on 8 basls Consistent with the use of resourceg. 1A Re$our¢e$ expended l expenditure is accounted for on an accruals basis and has b&n included under expense categories that aggreg8le 811 costs for Slloulion lo aclivilies. Where costs cannot be diredy ailribuled lo p¥rti￿lar activities they have been allocated on a basis consisienl wlth the use of the resour￿8. Costs of generating funds This comprises expenditure Incurred In connection Mlh gener8tsng funds for charity. Charitable aGlivitie5 This comprises expenditure incurred in connection Mlh the Charitab￿ objectives of the charity. Governan¢& cos18 This comprises expenditure in￿rred in connection *ith management and adminislralion of the charity. l.S Direct Taxation As a Gharily the Foundation 1$ generalty exempt from income tax Ènd capital 98ing tax. but not from VAT. Irrecoverable VAT is included in the cost of those to vthich il relates. 1.6 Invo8im&nts Inveslmenls are held al markei value Insof8r as Ihey are Capable of measurement. The realised snd unrealised gains or losses 8r6 shovm in the siaiemtnt of Financi81 A¢tiwli8s. COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 NOTES TO THE ACCOUNTS 1.7 Fund 8¢¢ountlng Unreslricled income funds are general funds that are svailable for use ai the Iruslees. discretion in furtherance of the objectives of Iht charity. 1.8 Ca$h Cash al bank and In hand Is held lo meet short-lami cash commilm8nls ss they f811 du• rather than for Inv8sknenl purposes. 1.9 Debtors Debtors linclLJding loans receivaNel are measured on initial r&coonilion ai setti&meni amount. They ar& shown In the financial 51alemenls at the cash or other consKleralion expected lo be recewed. 1.10 Golng ¢on¢om Tha accounts have been prepared on a going ¢onc&m basis and thera are no material uncertaintits. 1.11 Developments In the year On 30 January 2020 the Wodd Heahh Organisalion dedared the OLrtbreak of the Coronavitus ICovid-191 pandemic lo be a pu￿1¢ he81ttt emergency of inlernalion81 concern. Since the year-end, due lo the global impact of the Coronavitus ICovid-191 pandemiG, the value of investments, assets and liabilities have been imp3Cted. It is not possible, al this time. lo quantify the change in market value in a meaningful way, due lo ongoing volalilily as the situation is Iluid and unpredictable. The bo8rd are reviewing the Impact of the p8nd&ml¢ on the operations of the ¢h8riiy on 8 regular basis 8nd are taklw measures 10 ensure the risks faf*d art mitigated. whith indudes utilisiny the GovemTneni $upport measures. 1.12 Credltors The Foundation h8s ¢redhors whlth sre messured st satuemèni amounts. 1.13 Financial in5trument5 The Foundation accounis for the bssic financial Instrumenis on initial recognition as per papsgraph 10.7 FRS 102 SORP. SubsèoLJèni mèasurèm6nt is pèr paragraphs 11.17 10 11.19 FRS 102 SORP. 2 Inv68tm6nt irbcom 2023 2022 Dividend income Inleresl re￿IvablE 25,363 25.551 4( 26,473 25.957 3 Analysls of 8xp•ndltuM by typ8 Other ¢08ts Grants Total 2023 Total 2022 Raising funds 7.OB2 7.082 7.470 Grani fundlrKJ of activilles snd projects 22.$00 22,500 15.350 Govetnance costs 6,978 6,978 6.955 14.[￿9 22.500 36,560 29.775 10 COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 NOTES TO THE ACCOUNTS 4 Ralslng funds Total 2023 Totsl 2022 Inv8simant manayerfees and Commission 7,082 7.470 5 Chatltsble actlvltles Direct costs (see note 61 Support costs (see note 71 Totsl 2023 Total 2022 Grantfundirv 22,500 6,976 29,478 22.305 6 Grat)ts Total 2023 Totsl 2022 Treèhouse Tmst Cornmunily Foundation for Sutrey Medecins Sans FronlEres ZANE Zimbabwe- A National Emarg8ncy Sussex Federation Df Young Farmers Meath Epl￿psY Charity 10,000 5,000 5,000 2,500 10.000 s.ooo 350 Total Grants 22,500 15.350 7 Support cost5 Totsi Unresirlctsd fund8 2023 Total Llnr88trl¢ted funds 2022 Independeni Ex8mlna¢s tses Legal and professional tseg Bank charges 978 6,000 936 6.000 6.978 6.955 8 Trustees No remuneratlon was paid lo thè Trustees and no expenses incurrad by ts Trustees have bean reSmbursed. COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2023 TO 31 DECEMBER 2023 NOTES TO THE ACCOUNTS 9 Employees The Foundation has no employees. None of the Trustees received any remuner8tson. 2023 10 Invostrnent¥ Market value al the beginning of the year Add.. additions at cost Less.. disposals proc6eds Addldeduct-. profivllosgl disposal Addldeduct-. net gainlllossl on revaluation Market value al Ihe end of the year 1.427.183 641.325 1617.0061 63,093 42.377 1.472.218 Cash held by Cazenove Capital ManageTnenl 14,872 1.487.090 Dls¢lo8ur8 of It)dlvldual It)¥8Stmont8 Ovor 6% of totsl portfollo valu8 Any individual investments with a value as at 31 December 2023 over£73,611 of £1,427,218) are disclosed below. Valuo Namo of holdirbg HSBC FTSE All Wortd Index Fd S GBP In Robeco BP Global Prem Eq KE GBP Disi Vanguard S&P 500 UCITS IUSDI Disi 100.207 84.980 177.947 11 Cr8ditois'. amounts falling duè within orw yéar 2023 2022 Independeni Ex8mlna¢s f6&8 Legal and professional fees 978 4,200 5,178 93fj 12 Oobto 2023 2022 Income due from broker 208 13 Movement in funds Incoming Broughtfotward ro8our¢o8 Rosour¢os Expondod Other galns and 10880s ¢orried fotward Unro8trf¢tod funds 1,491.155 26,473 36.560 20.716 1.501.784 12