REGISTERED CHARITY NUMBER: 1119373
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
FOR
THE SYDER FOUNDATION
Banks & Co Limited
Chartered Certified Accountants
Statutory Auditors
I Carnegie Road
Newbury
Berkshire
RG14 5DJ

THE SYDER FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024
Page
Report of the Trustees
I to 3
Report of the Independent Auditors
Statement of Flnanclal Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements
10 to 15

THE SYDER FOUNDATION
REPORT OF THE TRUSTEES
For The Year Ended 30 September 2024
The Trustees present their report with the financial statements of the Charity for the year ended 30
September 2024. The Trustees have adopted the provislons of Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Effectlve I
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the Charity is to advance, promote or carry out any lawful Charitable Purpose as the
Trustees in their absolute discretion from time to tlme thlnk flt.
Publlc beneflt
The focus of the Charity is to provide fundlng to suitable causes, determined by the Trustees, which
provide benefit to the general public. The Trustees have had due regard to the Charlty Commissions,
guidance on publlc benefit.
Grantmaking
The Trustees identify charities or projects whlch align wlth the objectives of the Charity. Suitable grant
applications received are researched and, if appropriate, due diligence undertaken. Grant offers will be
made when the Trustees are satisfied that the cause is viable and capable of being properly managed.
Grants are awarded primarily to charitles withln the UK. In the event that grants are awarded to charities
established outside the UK, the Trustees will conduct an assessment following the guidance principles
provided by the Charity Commission to ensure that..
the activities carried out are in furtherance of the Charlty's purposes
reasonable steps are taken to monitor the use of funds for proper charitable purposes.
Although there are no upper or lower limits to the size of grants made, the number of projects and
charities that can be supported Is limited by the amount of funds designated by the Trustees for
distribution each year. The Charity seeks to distribute approximately 80% of the funds designated for
distribution each year to ten or fewer recipients as 'large grants,, with the balance made available as a
larger number of 'small grants,.
ACHIEVEMENT AND PERFORMANCE
The Charity, over the past slx years, has provided grants of £2,740,000 that have helped allow recipient
charities to fund their respective objectives and undertake various capital projects.
The Trustees consider the performance of the Charlty's Investments to be in line with the longer term
investment objectives.
FINANCIAL REVIEW
Investment policy and objectives
The Charity seeks to invest in investment assets which are prlmarily equltles, comblned with cash
deposlts and bonds.
In general, each class of Investment asset should produce income and should be at the lower end of the
rlsk spectrum.
The majority of the Charity's investments are managed by Evelyn Partners.
The current investment objective is to generate a total return of 3010 over inflatlon per annum, over the
medium term after investment management expenses. This should allow the Charity to maintain the real
value of its net assets, whilst funding annual charitable grants in the region of 30/0 per annum.
Page I

THE SYDER FOUNDATION
REPORT OF THE TRUSTEES
For The Year Ended 30 September 2024
FINANCIAL REVIEW
Reserves pollcy
The Charity is governed by a Trust Deed dated 16 March 2007, amended on 10 July 2019.
The Charity's total unrestricted reserves amount to £19,000,447 (2023: £16,991,555).
The funds held are held for the general purposes of the Charityi there are no restricted or permanent
endowment funds.
The Trustees wlsh to be able to maintaln a level of general reserves over the next few years in order to
generate annual income of between £300,000 and £500,000.
Should the level of grants made in a single year exceed the level of investment income received, the
Trustees may elect to reduce reserves as they see fit.
The Trustees believe that the exlsting level of reserves is sufficient for the Charity's current purposes and
are reviewed on an annual basis.
FUTURE PLANS
The Trustees will continue to ensure that the Charity has sufflcient resources to meet its alms and
objectives in the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by Its governing document, a Deed of Trust, and constitutes an unincorporated
Charity.
Recruitment and appointment of new Trustees
Appointment of Trustees is governed by the Constitution of the Charity. The Trustees are responsible for
overseeing the affairs of the organisation.
Organisational structure
The Charity was registered on 24 May 2007 and is administered by the Trustees who were the orlginal
donors ￿spOnSIble for its establishment. All decislons are made by the Trustees.
Risk management
The Trustees have a duty to identlfy and review the risks to which the Charity is exposed and to ensure
approprlate controls are in place to provide reasonable assurance against fraud and error.
The Trustees, who are experlenced in investment management, review the investment holdings on a
regular basls, identlfy and monitor relevant risks and manage these ri5k5 accordlngly.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charlty number
1119373
Princlpal address
PO Box 6277
Newbury
Berkshire
RG14 9PN
Trustees
Mrs C Syder
TDJSyder
Page 2

THE SYDER FOUNDATION
REPORT OF THE TRUSTEES
For The Year Ended 30 September 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Auditors
Banks & Co Limited
Chartered Certified Accountants
Statutory Auditors
I Carnegie Road
Newbury
Berkshire
RG14 5DJ
AUDITORS
A resolution proposing that Banks & Co Limited be re appointed as auditors of the charity will be put to
the Annual General Meetlng.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities In England and Wales, the Charities Act 2011, Charity (Accounts and
Reports) Regulations 2008 and the provisions of the trust deed 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 charity and
of the incoming resources and application of resources, including the income and expenditure, of the
charity for that period. In preparlng those financial statements, the trustees are required to
select sultable accounting policies and then apply them conslstently.
observe the methods and principles ir¢ the Charity SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financlal statements;
prepare the financial statements on the going concern basis unless it Is inapproprlate to presume that
the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charSty and to enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and
the provisions of the trust deed. They are also responslble for safeguarding the assets of the charity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by
der of the board of trustees on 6 June 2025 and slgned on its behalf by:
T D J Syder - Trustee
Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE SYDER FOUNDATION
Oplnlon
We have audited the financial statements of The Syder Foundation (the 'charity') for the year ended
30 September 2024 which comprise the Statement of Financlal Activities, the Balance Sheet, the Cash
Flow Statement and notes to the financial statements, Including a summary of significant accountlng
policies. The flnancial reporting framework that has been applied in their preparatlon is applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our oplnion the financial statements:
give a true and falr view of the state of the charity's affairs as at 30 September 2024 and of Its
Incoming resources and appllcation of resources, for the year then ended;
have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting
Practice; and
have been prepared In accordance with the requirements of the Charities Act 2011.
Basis for opinion
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 Auditors,
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
statements 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.
Concluslons relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the golng concern basis
of accounting in the preparation of the financlal statements Is appropriate.
Based on the work we have performed, we have not identified any material uncertalnties relating to
events or condltions that, indlvidually or collectively, may cast significant doubt on the charity's ability to
continue as a going concern for a period of at least twelve months from when the financlal statements
are authorlsed for Issue.
Our responsibilities and the responslbilities of the trustees with respect to going concern are described in
the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, other than the financial statements and our Report of the Independent
Auditors thereon.
Our opinion on the financial statements does not cover the other Information and, except to the extent
otherwise expllcitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconslstent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required to determine
whether thls gives rise to a material mi55tatement in the financial statements themselves, 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. We have nothing to report In this regard.
Matters on which we are requlred to report by exception
We have nothing to report In respett of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our oplnion:
the information glven in the Report of the Trustees is Inconsistent in any material respect wlth the
financlal statements; or
sufficient accounting records have not been kept; or
the financlal statements are not in agreement wlth the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE SYDER FOUNDATION
Responsibilities of trustees
As explained more fully in the Statement of Trustees. Responsibilities, the trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparatlon of financlal statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financlal statements, the trustees are responslble for assessing the charlty'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 Ilquldate the charity or to cease
operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in
accordance with the Att and relevant regulations made or having effect thereunder.
Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent
Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed
below:
Enquiry of management and those charged with governance around actual and potential litigatlon
claims
Enquiry of staff in compliance functlons to Identify any instances of non-compllance with laws and
regulations
Reviewing financial statements, disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations
Because of the inherent Ilmltatlons of an audit, there is a risk that we will not detett all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation.This rlsk increases the more that compliance with a law or regulation Is removed from the
event5 and transactions reflected in the financlal statements, as we will be less likely to become aware of
Instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentatlon.
A further description of our responsiblllties for the audit of the flnancial statements Is located on the
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms
part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charlty's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken 50 that we might state to
the charity's trustees those matters we are required to state to them In an auditors, report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charity and the charity's trustees as a bodyrt for our audit work, for thi5 report, or
for the opinions we have formed.
Banks & Co Llmited
Chartered Certified Accountants
Statutory Auditors
I Carnegie Road
Newbury
Berkshire
RG14 5DJ
Date:
Page 5

THE SYDER FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 30 September 2024
2024
Unrestrlcted
fund
2023
Total
funds
Notes
INCOME FROM
Investment income
337,474
345,684
EXPENDITURE ON
Portfolio management
52,417
81,590
Charltable activities
Charitable Attivltles
515,664
416,180
Other
19,704
16,853
Total
587,785
514,623
Net galns on investments
2,259,203
1,344,226
NET INCOME
2,008,892
1,175,287
RECONCILIATION OF FUNDS
Total funds brought forward
16,991,555 15,816,268
TOTAL FUNDS CARRIED FORWARD
19,000,447 16,991,555
The note5 form part of these financlal statements
Page 6

THE SYDER FOUNDATION
BALANCE SHEET
30 September 2024
2024
Unrestricted
fund
2023
Total
funds
Notes
FIXED ASSETS
Investments
18,977,626 16,887,359
CURRENT ASSETS
Cash at bank
27,985
109,527
CREDITORS
Amounts falling due within one year
io
(5,164)
(5,331)
NET CURRENT ASSETS
22,821
104,196
TOTAL ASSETS LESS CURRENT
LIABILITIES
19,000,447 16,991,555
NET ASSETS
19,000,447 16,991,555
FUNDS
Unrestricted funds
li
19,000,447 16,991,555
TOTAL FUNDS
19,000,447 16,991,555
The financial statements were approved by the Board of Trustees and authorised for issue on
6 June 2025 and were signed on its behalf by:
C Syder - Trustee
The notes form part of these financial statements
Page 7

THE SYDER FOUNDATION
CASH FLOW STATEMENT
For The Year Ended 30 September 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
(593,503)
(514,928)
Net cash used In operating activitles
(593,503)
(514,928)
Cash flows from investlng activities
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends recelved
(2,937,278)
3,111,765
6,651
330,823
(12,155,432)
11,202,925
10,369
335,315
Net cash provided by/(used in) Investing activities
511,961
(606,823)
Change in cash and cash
equivalents in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
(81,542)
(1,121,751)
109,527
1,231,278
Cash and cash equlvalents at the
end of the reporting period
27,985
109,527
The notes form part of these financial statements
Page 8

THE SYDER FOUNDATION
NOTES TO THE CASH FLOW STATEMENT
For The Year Ended 30 September 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net income for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Gain on investments
Interest received
Dividends received
Unrealised (Gains)/Losses on investment
Foreign exchange Gains/ (Losses)
(Decrease)/increase in creditors
2,008,892
1,175,287
(81,910)
(216,156)
(6,651)
(10,369)
(330,823)
(335,315)
(2,177,293) (1,128,070)
(5,551)
(1,064)
(167)
759
Net cash used in operations
(593,503) (514,928)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.10.23
Cash flow
At 30.9.24
Net cash
Cash at bank
109,527
(81,542)
27,985
109,527
(81,542)
27,985
Total
109,527
(81,542)
27,985
The notes form part of these flnancial statements
Page 9

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024
ACCOUNTING POLICIES
Basis of preparlng the financial statements
The financial statements of the charityi which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reportlng by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable In the UK and Republic of Ireland, and the Charities Act 2011. The financlal statements
have been prepared under the historical cost convention, with the exception of Investments which
are included at market value, as modified by the revaluatlon of certain assets.
The Charlty has determined that there are no post balance sheet events and accordinglyi the
financial position as at, and results of the activities for, the year ended 30 September 2024 have
not been adjusted to reflect their impact.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognlsed as expendlture as soon as there Is a legal or construttive obllgation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will
be required in settlement and the amount of the obligation can be measured reliably. Expenditure
Is accounted for on an accruals basis and has been classified under headlngs that aggregate all
cost related to the category. Where costs cannot be directly attributed to particular headings they
have been allocated to activlties on a basls consistent with the use of resources.
Grant5 offered subject to conditions which have not been met at the year end date are noted as a
commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used In accordance with the charitable objettives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes wlthln the objects of the
charlty. Restrictions arise when specified by the donor or when funds are raised for particular
restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
Statements.
Investments
Investments are stated at market value at the balance sheet date. The Statement of Flnancial
Actlvlties includes the net gains and losses arlsing on revaluations and disposals throughout the
year.
Page 10
continued...

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 30 September 2024
INVESTMENT INCOME
2024
2023
Interest
Dividends
6,651
330,823
10,369
335,315
337,474
345,684
PORTFOLIO MANAGEMENT
Investment management costs
2024
2023
Portfolio management
52,417
81,590
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
5)
Charitable Attivities
515,664
GRANTS PAYABLE
2024
2023
Charitable Activities
515,664
416,180
The total grants paid to organisations during the year was as follows:
Year ended Year ended
30.09.24
30.09.23
Other Charitable organisations
515,664
416,180
Future Pledges
As at the year end the Charity had future pledges totalling £370,000 which were carried forward to
the new financial year.
Page 11
continued...

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024
SUPPORT COSTS
Governance
costs
Management
Flnance
Totals
Other resources expended
532
290
18,882
19,704
Support costs, Included in the above, are as follows:
2024
Other
resources
expended
2023
Total
attivities
Postage and statlonery
Bank charges
Auditors, remuneration
Accountancy
Consultancy
532
290
2,648
1,560
14,674
323
163
2,500
1,500
12,367
19,704
16,853
AUDITORS, REMUNERATION
2024
2023
Auditors, remuneration
Auditor's remuneration - Non audit
2,648
1,560
2,500
1,500
4,208
4,000
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 30 September 2024 nor
for the year ended 30 September 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 30 September 2024 nor for the year
ended 30 September 2023.
FIXED ASSET INVESTMENTS
2024
2023
Shares
Corporate Bonds
18,877,626 16,787,359
loo,000
loo,000
18,977,626 16,887,359
Page 12
continued...

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024
FIXED ASSET INVESTMENTS - continued
Additional information as follows:
Cash and
settlements
pending
Quoted
shares
Totals
MARKET VALUE
At l October 2023
Additlons
Disposals
Unrealised gains/(losses)
Realised gains/(losses)
16,688,857
98,502 16,787,359
1,133,348
1,803,930
2,937,278
(1,470,382} (1,641,383) (3,111,765)
2,182,844
2,182,844
81,910
81,910
At 30 September 2024
18,616,577
261,049 18,877,626
NET BOOK VALUE
At 30 September 2024
18,616,577
261,049 18,877,626
At 30 September 2023
16,688,857
98,502 16,787,359
HISTORICAL COST
UK
Overseas
2024
2023
Listed investments
Cash
6,324,912
261,049
8,972,985
15,297,897 15,621,852
261,049
98,502
6,585,961
8,972,985
15,558,946 15,720,354
INVESTMENTS AT MARKET VALUE COMPRISE:
UK
Overseas
2024
2023
Listed investments
Cash
7,720,097 10,896,480
261,049
18,616,577 16,688,857
261,049
98,502
7,981,146 10,896,480
18,877,626 16,787,359
Cost or valuation at 30 September 2024 is represented by:
Cash and
settlements
pending
Quoted
shares
Totals
Valuatlon In 2024
Cost
3,318,681
15,297,896
3,318,681
261,049 15,558,945
18,616,577
261,049 18,877,626
Investments (nelther listed nor unlisted) were as follows:
2024
2023
Corporate Bonds
loo,000
loo,000
Page 13
continued...

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditor5
5,164
5,331
11. MOVEMENT IN FUNDS
Net
movement
in funds
At
1.10.23
At
30.9.24
Unrestricted funds
General fund
16,991,555
2,008,892 19,000,447
TOTAL FUNDS
16,991,555
2,008,892 19,000,447
Net movement in funds, Included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
337,474
(587,785) 2,259,203
2,008,892
TOTAL FUNDS
337,474
(587,785) 2,259,203
2,008,892
Comparatives for movement in funds
Net
movement
In funds
At
1.10.22
At
30.9.23
Unrestricted funds
General fund
15,816,268
1,175,287 16,991,555
TOTAL FUNDS
15,816,268
1,175,287 16,991,555
Comparatlve net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
345,684
(514,623) 1,344,226
1,175,287
TOTAL FUNDS
345,684
(514,623) 1,344,226
1,175,287
Page 14
continued..

THE SYDER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024
ii.
MOVEMENT IN FUNDS - contlnued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
In funds
At
1.10.22
At
30.9.24
Unrestrlcted funds
General fund
15,816,268
3,184,179 19,000,447
TOTAL FUNDS
15,816,268
3,184,179 19,000,447
A current year 12 months and prlor year 12 months combined net movement in funds, included In
the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
683,158 (1,102,408) 3,603,429
3,184,179
TOTAL FUNDS
683,158 (1,102,408) 3,603,429
3,184,179
12. RELATED PARTY DISCLOSURES
There were no related party transattions for the year ended 30 September 2024 nor for the year
ended 30 September 2023.
13. ULTIMATE CONTROLLING PARTY
The Trustees consider there to be no controlling party.
Page 15