COLLYER BRISTOW Coombe-Tennant Foundation Trustees, Report & Financial Statements 1 January 2024 to 31 December 2024 38385.1 Charity No. 1113080
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS I JANUARY 2024 TO 31 DECEMBER 2024 Page Reference and administrative details of the Foundation, ils trustees and advisers Tru5tees' Report Independent ExaMineS Report stateTnent of Financial Actiwknes Balance Sheel Notes to the Financial Statements 9-12 Investment schedule fNol filed with Ihe Charity Commission) 13-14
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION ITS TRUSTEES AND ADVISERS Founder Jenrfer Margaret Coombe-Tennant (died 18 Nov 20121 The Board of Trustees Susanna Margaret Morgan-williams Charle5 Serecold Coombe-Tennant John Ashley Coombe-Tennant Mark Henry Coombe-Tennant Rosalie Janet Hoffmann Charity registered number 1113080 Principal Office clo Collyer Bristow LLP St Martin's Court 10 Patern05ter Row London EC4M 7EJ Independent Examine Lucy Dixon Martsn and Company 25 St 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 Bristow LLP St Martin's Court 10 Paternoster Row London EC4M 7EJ Investment manager Cazenove Capital Management 1 London Wall Pla London EC2Y SAU
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 TRUSTEES, REPORT The Trustees present their annual report together with the financial statements ofthe Coombe- Tennant Foundation (the Foundation) for the year from 1 January 2024 to 31 December 2024. The Trustees confirm that the report and financial stalements of the Foundation comply with the Charities Act 2011. the requirements ofthe Foundation's goveming document and the provisions of the Statement of Recommended Practice (SORP) applicable to Charities preparing their accounts in accordance with the Financial Fieporting 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 administration The Foundation was established by a Declaration of Charitable Trust dated 20 January 2006 and is registered with the Charity Cornmission under charity number 1113080. The Foundation's governing instrument is its Trust Deed which allows for any activities covered by the Foundation's obiects'ves, 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 to time think fit. The Trustees confirm that they have complied wrth the duty in section 17 of the Charities Act 2011 and have referred to the quidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives and in planning future activities and setting the grant making policy for the year. Governance The management of the Foundation is the responsibility of the Trustees who are elected and co-opted under the terms ofthe Trust Deed. The Trustees meet at least once a year to discuss and implement policy. There were no related party transacts'on5 for the year ended 31 December 2024. Financial review As at 31 December 2024, the market value of investments was £1.624,508131 December 2023 - £1,487.0901. Income from investments totalling £34.616 (2023 - £26,473) was received. As at 31 December 2024 the Foundation had net funds of £1,629,344.
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS I JANUARY 2024 TO 31 DECEMBER 2024 Review of activities and achievements There were 5 payments made in the financial year ranging from £5.OOD to £500 to the Community Foundation for Surrey, Zane Zimbabwe- A National Emergency, Sussex Federation of Young Farmers. Medecins Sans Frontieres and the Chiddingfold Parish Council Church Fund. 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 to support Autistic Children. Investment policy As at 31 December 2024, all cash funds were held on the current account with National Westminster Bank Plc. The Trustees, investment policy is to airn 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 wlh the Foundation policy and ils constitution. The holdings comprise of a range of equities. bonds and alternative investments which provide for a broad investment spread and consequently the risk is spread amongst a cross section of different range of investments. Reserves and funding The Trustees are maintaining 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-Tennant Rosalie Janet Hoffmann Appointment and induction of Trustees In appointing a new Trustee. the Trustees will take into account the benefits of appointing a person who 15 able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit ofthe objects or management of the Foundation_
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 Risk management The Trustees are responsible for the managemerrt of the risks faced by the Foundation. All major risks to which the Foundation is exposed have been reviewed and systems have been established to mitlgate these risks_
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 statement of TTUStees' responsibilities The Trustees are resw)nsible for preparing the Trustees. report and the financial statements in accordan with applicable law and United 'ngdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of Ihe incoming resources and application of resources ot the FoundatlDn for that period. In preparing these financial statements, the Twstees are required to: setect suitable accounting policies and then apply them consistently,. observe the methods and prTrnciples in the Charities SORP" make judgments and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject lo any mateiial deparlures disclosed and explained in the financial 5tatements', prepare the financial statements on the going concern basis unless it is inappropTiate to presume that the Foundation will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuiacy at any tsme the financial positiDn of the Foundation and enable them to ensure that the financial statements comp5y with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations 2008, and the provisions of the Trusl deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. Signed on behalf of the trustees.. Zl.lo.I Susanna Margar Morgan-williams Date
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 Independent Examiner's Report to the Trustees of the Coombe-Tennanl Foundation I report on the financial statements of the Foundation for the year ended 31 December 2024 as set out on pages 7 to 14. This report Is made solely to the Foundation 5 trustees. as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Foundation's trustees those matters l am required to slate to them In th15 report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the Foundation and the Foundation's trustees as a body, for my work, for this report, or for the opinions I have formed. Respective responsibilities of trustees and examiner The Foundation's trustees are responsible for the preparation of financial statements. The Foundation's trustees consider that an audit 15 riot required for this year under Section 144{2) of the Charities Acl 2011 {'the 2011 Act.) and that an independent examination is needed. It is my responsibility to. examine Ihe financial statements under section 145 of the 2011 Act.,
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. and to state whether particular matters have come to my attention. Basis of independent examinevs report My examination wa5 carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Foundation and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not Drovide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view, and the report is lirnited to those matters set out in the statement below. Independent examiner's statement In connection with my examination. no matter has come to my attention" al which gives me reasonable cause to believe that in any material respect the requirements". to keep accounting records in accordance with sects.on 130 of the 2011 Act", and to prepare accounts which accord with the accounting records and comply with the accounting requirefnents of the Charities Act have not been met; or bl to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. UCY Dixon FCA Martin and Company Chartered Accounlants 25 St Thomas Street Winchester Hampshire S023 9HJ ,.)0 O cbK)wo' 1025 Dated..
COOMBE-TENNANT FOUNDATION TRUSTEES, REPORT & FINANCIAL STATEMENTS STATEMENT OF FINANCIAL ACTIVITIES 1 JANUARY 2024 TO 31 DECEMBER 2024 Tolal Unrestricted funds Total Unrestrlcted lunds 2024 2023 Notgs INCOME FROM Investments 34,616 26,473 Total income 34.616 26.473 EXPENDITURE ON Raising funds Charitable activities 7,352 34,133 7.082 29,478 Total resourcès expÈnded 41.485 36,560 Net incomellexpenditure) (6,8691 110,0871 Gains and losses on investment assets 10, 13 134.429 20,716 Net Movement in Funds 127,560 10,629 RECONCILIATION OF FUNDS Total fund5 brought fonvard 1.501,784 1,491.155 Fund balances at 31 Decernber 2024 13 1,629.344 1.501,784 The notes on pages 9 to 12 foTm part of these finanaal stalements.
COOMBE-TENNANT FOUNDATION TRUSTEES" REPORT & FINANCIAL STATEMENTS BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Investments 10 1.624.508 1 487.090 urrent assets Cash at bank and in hand 6.729 19.872 Debt(ws 12 111 6.840 19,872 Creditors- amounts falling due within one year {2.0041 15,1781 Net current assets 4.836 14.e94 Totsl assets less ¢urrerrt liabilities 1.629.344 1.501,784 CHARITY FUNDS Unrestricted funds 13 1.629.344 1,501.784 TOTAL FUNDS 1,629.344 1.501,784 For and on behalf of the Coomb&Tennant Foundatio 23_10_Ig Date flo.O(L_ Susanna Margaret Morgan-williams Trustee
COOM8E-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENT5 1 JANUARY 2024 TO 31 DECEMBER 2024 NOTES TO THE ACCOUNTS 1 Accounting policies 1.1 Basis of preparing the financial statements The financial 5taternents of the Foundation Is a public benerrt enlily. have oeen prepared in accordan wth the Slaletneni ol Recommended Practice Accounting and Reportipg by Chaflt1es wepanng their accounts In ccordance wlh the Finanual Rewrting Stanaard apDlicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financral Reporl',ng Standard applicable In the UK anLI Republ of Ireland IFRS 1021, the Charitie5 Acl 2011 and UK Generally AccepteLI PraE'.Ice a5 11 applies from 1 January 2015. The financial 51alements have bEen prepared to give a 'lrue and fairf view and have departed frorn the Chanties (Accounts and Reports) Regulations 2008 Oryty lo the extent requiFeil to W(Mde a'iJJe aDd fapf View. This dep3rture has iryvolved followng Accounting and Repong by Chanties." Statement of Recommended PracliTr applicable lo chariiies preparing their accounts In accordance 1th +he Financial Rewrting Standard applirable in the UK antt Republic of Ireland Issued In OctobeT 2019 Tather than the Accwnling and Repothng by Chant$ Statetnent of Recommendeo Pracii£È erreciive trotn 1 Ayil 2005 thich h35 since been 1thra. 1.2 Incorne All Income 15 recognised In Ihe Statement of Finanoal AclNrtie5 OTh the chanty has entstlevnenl of the funds, Il Is probable that the Income wll be receive(l aFTd the amount can be rneasured reliaiAy. 1.3 Expenditure Liabililie5 are recognised a5 expendlure as soon as iiere is a legal or consiructive obligaliop committing the Foupdaiion lo that expendiluTe. JI 15 probatAe thai a Iransfer of economic benefit5 bwII be reouired In selllemenl an the aFnounis ol the obligation can be measured Teliab..ly. EXpe.dItre'S accounted foT on aD accruals basis ano has been classified under head ngs that aggregJie all cost relating 10 the category. WheTe c05tS Cannot be directly allribuled lo particular headings they have been allocated to activities on a basis consistent the use o., resources. 1.4 Resources expended All expentlilure Is accwnied for on an accruals bass ano has been included under expense categories that aggregate all costs for allocation 10 attivilies. Where costs cannot directly attributed to particular attiivities they have been allocate(5 on a bags consistent ¥th Ihe use of the rr¢e$. Costs of generating funds This comprise5 expenditure Incurred In connecknon generating funds for chanty. Ck.arilable aclmties Tb15 compnses expenditu incurred in conrcbon %ith the chari1ab objecbves or the ehanty. GDvernance costs This compnses expenditure incufTed in CL¥¥Cti with management and atlministralion of the charity. 1.5 Drrect Taxatlo As a charity the Foundation 1$ 9eneTally exempt from 1Cne tax and capital gain5 tax. but not frorn VAT. Irrecoverable VAT Is Induded In the st of Ihose to thich rt rees. 1.6 Investments InveslFnents are held at market value insofar as they are capable of rneasuremenl. The realised and unrealised gains cr losses are shown In Ihe Staternent of Finano31 Aclivities.
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 NOTES TO THE ACCOUNTS 1.7 Fund accounllng Unrestncted Incomè lunds aTe general funds that a available for use ai the trustees, discreti In furthera OT the obieclives of Ihe chanly. 1.8 Cash Cash al bank and in hand 15 helo to meet sh(xt-tem cash (xynmitrnents as they fall due rather than for Investment purpose5. 1.9 Debtor5 Debtors (including loan5 receivable) are Dieasured Initial recognibon at setuement amounL Ihey 3re shown In the financial staternents al the cash or olkEr consioeration expected lo be rece.'vpll. 1.10 Going Concer Tha accounts have been prepared on a going concem ba95 and the are no rr.aierial uncertainties. 1.11 Developfnewrts in the year On 30 January 2020 the Worfd Health Organisatsor. declared the tbak o. the Coronaviru5 ICovid-191 pandemic to be a public health emergency of International Since the year-end, due Io the global itnpae. of he Coronavirus ICoffld-191 pandemic. the v31ue of investments. assets and Iiabililies have Deen Impacted. 11 is noi possible. at Ih15 time. to qu8rlify Ib.e change In rnarket value ID a meaningful Vfdy. due to Dngoing volal..lity as ihe siiuation is fiuid and inpreddable. The tx)ard are reviewng the Impact of the pandernic w the operalions of Ihe thanty on a wular basis are taking measures 10 Ènsure the r15k5 faced are rnitigaled %4fftich indudes utilising Ihe Govemment SUPPDrt measures. 1.12 Creditors The FDundation ha5 c1110rS Vhich are rneasured at settlement amounts. 1.13 Financial instfuments The Foundation accoun15 f(K Ihe basic financial instruments Dn Inilial recogn.tson as per paragraph 10.7 FRS 102 SORP SiJbsequenl m*asurenient It per paragr4ph5 11 17 Ir) 11.19 FRS 102 SORP. 2 Investment income 2024 2023 Dividend Incorne Interest re¢eivable 34.1fj3 453 25.363 34.616 26,473 J Analysis of expenditure by type Other costs Grants Total 2Q24 Total 2023 Raising funds 7,352 7.352 7,082 Grant lunding of activitie5 Pffjjects 26.500 26,500 22.500 Governance costs 7.633 7.633 6.978 14.985 26.500 36,560 10
COOM8E-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENT5 1 JANUARY 2024 TO 31 DECEMBER 2024 NOTES TO THE ACCOUNTS 4 Raising lunds Total 2024 Total 2023 Invesimenl manager fees and cornmission 7.352 7,082 Charitable actlvities Direct costs (see note 61 Support costs (see note 71 Total 2024 Total 2023 Grant funding 26.50D 7,633 34.133 29.478 6 Grants Total 2D24 Total 2023 Treehouse Trust Cornmunity Foundation lor Surrey Medevns Sans Fronliere5 ZANE ZimbabwE- A National Ernergency Sussex Federation d Young Farmers Chiddingfold PC Church Arpeal 1D.000 6.000 5.000 1,ODO 5.000 500 10.000 5.OOQ 5,000 2,500 Total Grants 26.500 22,500 7 Support costs Total Lknrestricted funds 2024 Total UnreBtri¢te funds 2023 Independent Examinerfs fees Legal and professional fees Bank charges 1.026 6600 978 e,000 7.633 6,978 8 Trustees No Iernuneralion was paid to the Trustees and no expen5e5 Incurred by the Trustees havp teen reimbuTseLI.
COOMBE-TENNANT FOUNDATION TRUSTEES. REPORT & FINANCIAL STATEMENTS 1 JANUARY 2024 TO 31 DECEMBER 2024 NOTES TO THE ACCOUNTS 9 Employees The Foundation has no ernOyees. N¢e i)f the Trustees recwved any retnuperabon. 2024 10 Investrnents Markel value at the beginning Df the year Add. additions at C051 Less d15posals pr(teeds Addldeduct. profiLlllossl on d15posal Addldeduct net gainll105sI on rÈvalu*Jon Market value al the end of the year 1.472.218 255.952 1262,5961 113,215Jl 147.712 1 600.003 Cash held by Cazenove CapiAI Management 24,505 1.674 50B Di5¢1o$ure of indlvldual invE5tmenls over 5% of trAal portlollo value Any Individual Inveslrnents w'.h a value as al 31 Dewnbw 2024 over £80.00th1015% of £1,600,002) are d15dosed below. Value Name ol halding HSBC FTSE All Wotld Ilmlex Fd S tsEIV Inc J P Morgan Atnerica Equity12 USD Dist Vanguard S&P 500 UCITS IUSDI Oist 117.094 132.666 224,088 11 CreditOfS.' arnounts lalling due wlthin one year 2024 2023 Independent ExarnineT's fees Legal and professional fees 2,004 978 4.200 2.004 5,178 12 Debtors 2024 2023 Income due from broker 13 Movement in funds Incorniny resources Resource$ Expended Other gains and losse5 Carrffted forward Brought forward Unrestricted funds ,501.784 34.616 4".485 134429 1,829,344 12