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← The Roper Family Charitable Trust

2025-07-25-accounts

THE ROPER FAMILY CHARITABLE TRUST

Trustees’ Report

and Financial Statements

for the year ended 25 July 2025

Registered Charity Number 1120400

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

CONTENTS

Page
Charity information 1
Trustees’ report 2
Independent auditor’s report 4
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Accounting policies 10
Notes to the financial statements 12

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

THE ROPER FAMILY CHARITABLE TRUST

CHARITY INFORMATION

Trustees

Paul Roper

Mark Roper

Ludlow Trust Company Limited, corporate trustee. The directors of the corporate trustee, company no. 12492064, during the year under review and to the date of approval:

Mr Gary St John Collins

Mr Walter Duncan Coxon

Mr Ali Reza Sarikhani Miss Ziba Christina Sakine Sarikhani Mr Christopher Ian Thurlow Mr Matthew John Wickers Mr John Stephen Dennis (resigned 25/10/2024)

Principal office

1st Floor Tower Wharf Cheese Lane Bristol BS2 0JJ

Registered charity number

1120400

Independent auditor

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Banker and investment manager

Coutts & Co 440 Strand London WC2R 0QS

Solicitor

Womble Bond Dickinson 3 Temple Quay Temple Back East City of Bristol BS1 6DZ

Page 1

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

THE ROPER FAMILY CHARITABLE TRUST

TRUSTEES’ REPORT

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 25 July 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Roper Family Charitable Trust is a registered charity constituted under a trust deed dated 24 July 2007, and registered as a charity 1 August 2007.

The trust is controlled by the trustees. The power to appoint and remove trustees rests with the settlor trustees during their lifetime and subject to this is exercisable by the trustees from time to time.

On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the trust, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.

The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems incorporating Ludlow Trust Company Limited’s systems and controls they have established effective systems to mitigate those risks.

OBJECTIVES AND ACTIVITIES

The charity’s objects are:

“To further such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.”

In pursuance of its objects, the charity’s income, and, at the absolute discretion of the trustees, its capital, is applied in making grants to charitable organisations.

In determining how the charity should pursue its objects, the trustees have had regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

During the year under review incoming resources for the year totalled £895,687 (2024: £548,759) consisting of investment income of £666,848 (2024: £312,241) and transfers from the capital fund of £228,839 (2024: £236,518) to cover expenditure in excess of investment income received.

Charitable expenditure in the year comprised grants to charitable organisations totalling £435,000 (2024: £553,000) while support and governance costs amounted to £35,902 (2024: £34,040) and investment manager fees totalled £35,575 (2024: £32,731) giving total resources expended of £506,477 (2024: £619,771).

Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 25 July 2025 free reserves were a surplus of £435,968 (2024: £11,183).

Investment policy

There are no restrictions on the charity’s’ power to invest. The objective is to produce a balance of income and capital growth sufficient to support the cahrit’s objectives. The investment strategy is agreed between the trustees and the investment managers, and is regularly reviewed.

PLANS FOR FUTURE PERIODS

The trustees intend to continue the charity’s grant-making activity.

Page 2

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

TRUSTEES’ REPORT

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 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPOINTMENT OF INDEPENDENT AUDITOR

For the year under review the charity exceeded the audit threshold and appointed Blue Spire Limited as auditors. Blue Spire Limited have expressed their willingness to remain as auditors of the charity.

Approved by the trustees and signed on their behalf.

David Breach on behalf of Ludlow Trust Company Limited Trustee

Date 24 March 2026

Page 3

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

INDEPENDENT AUDITOR’S REPORT

Independent Auditor’s Report to the Trustees of The Roper Family Charitable Trust

Opinion

We have audited the financial statements of The Roper Family Charitable Trust (the ‘charity’) for the year ended 25 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor’s 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis 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 events or conditions that, individually 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 financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees 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 other information and, except to the extent otherwise explicitly stated in our report, 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 with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have 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 required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 4

THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

INDEPENDENT AUDITOR’S REPORT

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees 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 from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial 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 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.

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.

Based on our understanding of the Charity and the industry in which it operates, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act, and Trustee Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. As an investment and donation funded grantmaker there is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.

Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial 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 misrepresentation.

Page 5

THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

INDEPENDENT AUDITOR’S REPORT

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 body, for our audit work, for this report, or for the opinions we have formed.

Blue Spire Limited (Statutory Auditor) Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Date 24 March 2026

Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 6

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Investments
1
Total
EXPENDITURE ON:
Raising funds
2
Charitable activities
3
Total
Net gains/(losses) on investments
7
Net Income/(expenditure)
Transfers between funds
10
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
9, 10
Total funds carried forward
9, 10		 Income
Fund
£
666,848
666,848
-
470,902
470,902
-
195,946
228,839
424,785
11,183
435,968		 Capital
Fund
£
-
-
35,575
-
35,575
789,895
754,320
(228,839)
525,481
8,569,254
9,094,735		 2025
Total
Funds
£
666,848
666,848
35,575
470,902
506,477
789,895
950,266
-
950,266
8,580,437
9,530,703		 2024
Total
Funds
£
312,241
312,241
32,731
587,040
619,771
(121,309)
(428,839)
-
(428,839)
9,009,276
8,580,437

None of the charity’s activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 7

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

BALANCE SHEET AS AT 25 JULY 2025

2025 2024
Note £ £ £ £
FIXED ASSETS
Investments 7 8,425,305 7,473,548
CURRENT ASSETS
Cash at hand and in bank 1,113,570 1,190,527
Total current assets 1,113,570 1,190,527
CURRENT LIABILITIES
Creditors: amounts falling due within one year 8 8,172 83,638
Net current assets/(liabilities) 1,105,398 1,106,889
Net assets/(liabilities) 9,530,703 8,580,437
THE FUNDS OF THE CHARITY
Capital (expendable endowment) 9, 10 9, 10 9,094,735 8,569,254
Income 9, 10 9, 10 435,968 11,183
Total charity funds 9,530,703 8,580,437
The notes on pages 12 to 16 form part of the financial statements The notes on pages 12 to 16 form part of the financial statements
Approved by the trustees and signed on their behalf

David Breach on behalf of Ludlow Trust Company Limited Trustee 24 March 2026 Date

Page 8

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

STATEMENT OF CASH FLOWS

£
£
Net cash flow from operating activities (see below)
(581,943)
Cash flow from investing activities
Purchase of investments
(3,059,629)
Proceeds from sales of investments
2,897,767
Investment income
666,848
Net cash flow from investing activities
504,986
Net increase/(decrease) in cash and cash equivalents
(76,957)
Cash and cash equivalents at 26 July 2024
1,190,527
Cash and cash equivalents at 25 July 2025
1,113,570
Cash and cash equivalents consist of:
Cash at bank and in hand
1,113,570
Cash and cash equivalents at 25 July 2025
1,113,570
Reconciliation of net income to net cash flow from operating activities
£
£
Net income for the period
950,266
Adjusted for:
Investment income
(666,848)
(Gains)/losses on investments
(789,895)
(Increase)/decrease in debtors
-
Increase/(decrease) in creditors
(75,466)
(1,532,209)
(581,943)
2025
2025		 £
£
(525,370)
(7,085,625)
7,605,825
312,241
832,441
307,071
883,456
1,190,527
1,190,527
1,190,527
£
£
(428,839)
(312,241)
121,309
25,000
69,401
(96,531)
(525,370)
2024
2024		 £
£
(525,370)
(7,085,625)
7,605,825
312,241
832,441
307,071
883,456
1,190,527
1,190,527
1,190,527
£
£
(428,839)
(312,241)
121,309
25,000
69,401
(96,531)
(525,370)
2024
2024
(525,370)

Page 9

THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

The Roper Family Charitable Trust is a registered unincorporated charity, established under a trust deed, in England and Wales. The address of the principal office is given in the charity information of these financial statements and the nature of the charity’s operations and principal activities are detailed in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the Charity's activities.

Page 10

THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

ACCOUNTING POLICIES

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.

Fund accounting

Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Capital (endowment) funds comprise the original gifts introduced by the settlor trustees and associated gift aid, together with the accumulated realised and unrealised surpluses arising on investments acquired with those gifts, less any donations made out of capital. The capital funds are expendable at the discretion of the trustees. Investment management charges and legal advice relating to the fund are charged against the fund. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 11

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

1. Income from investments

Income from investment assets
Proceeds from earn-out
Interest on cash deposits
2. Raising funds
Investment managers fees
3. Expenditure on charitable activities
Grants to institutions (see note 4)
Support and governance costs
Ludlow management fees
Legal fee
Auditor's fee		 Unrestricted
Funds
£
177,608
478,623
10,617
666,848
Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
435,000
32,602
-
3,300
470,902		 Endowment
Funds
£
-
-
-
-
Endowment
Funds
£
35,575
35,575
Endowment
Funds
£
-
-
-
-		 2025
Total
Funds
£
177,608
478,623
10,617
666,848
2025
Total
Funds
£
35,575
35,575
2025
Total
Funds
£
435,000
32,602
-
3,300
470,902		 Unrestricted
Funds
£
297,537
-
14,704
312,241
Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
553,000
31,590
350
2,100
587,040		 Endowment
Funds
£
-
-
-
-
Endowment
Funds
£
32,731
32,731
Endowment
Funds
£
-
-
-
-
-		 2024
Total
Funds
£
297,537
-
14,704
312,241
2024
Total
Funds
£
32,731
32,731
2024
Total
Funds
£
553,000
31,590
350
2,100
587,040

4. Grants to institutions (one grant and England and Wales unless indicated)

No.
Age UK Bath And North East Somerset Limited
Bath Area Play Project
Bath Carnival CIC
Bath City Farm
Bath City FC Foundation
Bath Community Kitchen CIC
Bath Ethnic Minority Senior Citizens Association
Bath Festivals
Bath Fringe Ltd
Bath Industrial Heritage Trust Limited
Bath Mind
2
Bath Mozartfest Limited
Bath Operatic and Dramatic Society
Bath Philharmonia
2
Designability Charity Limited
Carried down		 2025
Total
Funds
£
No.
10,000
16,000
20,000
15,000
-
2
-
-
-
17,000
10,000
40,000
25,000
10,000
55,000
2
-
218,000		 2024
Total
Funds
£
10,000
16,000
15,000
15,000
20,000
10,000
15,000
25,000
17,000
10,000
10,000
25,000
10,000
55,000
10,000
263,000

Page 12

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

4. Grants to institutions (one grant and England and Wales unless indicated) (continued)

No.
Brought down
Batheaston Youth Club
Focus Counselling (UK) Limited
Genesis Trust Bath
Jamie's Farm
Julian House
Keynsham and District Mencap Society
Keynsham Music Festival Association Ltd
Mentoring Plus Bath And North East Somerset
Mid-Somerset Festival
Percy Community Centre
Sound Vision CIO
South West Action for Learning And Living Our Way Limited
Southside Family Project
SWEDA Ltd
The Alice Park
The Holburne Museum
The Life Project (Bath)
The Partnership Trust; Fosse Way School
The Urban Garden (Bath) CIC
Time Bank Plus Ltd
Triumph Over Phobia (Top UK)
Voices
Voices for Life
Wellow Group Riding For The Disabled
Youth Connect South West		 2025
Total
Funds
£
No.
218,000
5,000
-
-
-
12,000
8,000
10,000
25,000
10,000
2
12,000
-
25,000
15,000
20,000
25,000
-
-
-
10,000
12,000
-
2
-
10,000
2
6,000
12,000
435,000		 2024
Total
Funds
£
263,000
-
6,000
10,000
50,000
10,000
-
-
15,000
20,000
10,000
10,000
20,000
15,000
-
-
25,000
10,000
10,000
10,000
12,000
25,000
5,000
12,000
5,000
10,000
553,000

5. Auditor's fees

5. Auditor's fees
Auditor's fee - audit Unrestricted
Funds
£
3,300
3,300		 Endowment
Funds
£
-
-		 2025
Total
Funds
£
3,300
3,300		 Unrestricted
Funds
£
2,100
2,100		 Endowment
Funds
£
-
-		 2024
Total
Funds
£
2,100
2,100

6. Related party transactions

Ludlow Trust Company Limited charged fees for administrative services of £32,602 (2024: £31,590), as shown in note 3, with £2,348 (2024: £2,191) payable at the balance sheet date. These fees are authorised under the section 6 of the Trust Deed.

During the year under review, a grant of £25,000 (2024: £25,000) was awarded to Bath Mozartfest Limited, of which one of the trustees is also a trustee.

Similarly, a grant of £25,000 (2024: £20,000) was awarded to South West Action for Learning And Living Our Way Limited, of which one trustees is also a trustee.

To manage the potential conflict of interest, the respective trustees were excluded from the grant-making process, discussions and decisions relating to the approval of the above-mentioned grants.

Page 13

THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

6. Related party transactions ( continued )

The charity has no employees. All administration is carried out by the trustees, none of whom received remuneration or other benefits from the charity during the year under review or comparative year, other than the fees disclosed above.

7. Fixed asset investments - Listed

Balance brought forward
Additions
Disposals at proceeds
Gains/(losses) on investments
Gains/(losses) on investments		 2025
£
7,473,548
3,059,629
(2,897,767)
789,895
8,425,305
789,895
789,895		 2024
£
8,115,057
7,085,625
(7,605,825)
(121,309)
7,473,548
(121,309)
(121,309)

8. Creditors: amounts falling due within one year

Investment manager's fees
Administrative services
Auditor's fees
Grants		 2025
£
2,524
2,348
3,300
-
8,172		 2024
£
2,347
2,191
2,100
77,000
83,638

9. Analysis of net assets between funds

Fixed assets investments
Net current assets		 Unrestricted
Funds
£
-
435,968
435,968		 Endowment
Funds
£
8,425,305
669,430
9,094,735		 2025
Total
Funds
£
8,425,305
1,105,398
9,530,703		 Unrestricted
Funds
£
-
11,183
11,183		 Endowment
Funds
£
7,473,548
1,095,706
8,569,254		 2024
Total
Funds
£
7,473,548
1,106,889
8,580,437

10. Net movement in funds

10. Net movement in funds
Endowment funds
Unrestricted funds		 Year ended 25 July 2025
Total funds
brought
forward
£
8,569,254
11,183
8,580,437		 Total
incoming
resources
£
-
666,848
666,848		 Total
resources
expended
£
(35,575)
(470,902)
(506,477)		 Transfers
between
funds
£
(228,839)
228,839
-		 Gains/(losses)
on investment
assets
£
789,895
-
789,895		 Total funds
carried
forward
£
9,094,735
435,968
9,530,703

Page 14

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

THE ROPER FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

10. Net movement in funds ( continued )

10. Net movement in funds (**continued ** )
Endowment funds
Unrestricted funds		 Year ended 25 July 2024
Total funds
brought
forward
£
8,959,812
49,464
9,009,276		 Total
incoming
resources
£
-
312,241
312,241		 Total
resources
expended
£
(32,731)
(587,040)
(619,771)		 Transfers
between
funds
£
(236,518)
236,518
-		 Gains/(losses)
on investment
assets
£
(121,309)
-
(121,309)		 Total funds
carried
forward
£
8,569,254
11,183
8,580,437

The transfer from endowment to unrestricted funds was implemented to provide resources for grant awards in furtherance of the charity's objectives.

11. Financial instruments

The carrying amounts of the charity's financial instruments are as follows:

2025
Total
Funds
£
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
8,425,305
8,425,305
The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
2025
Total
Funds
£
Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
666,848
Investment management fees
(35,575)
631,273
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Net gains/(losses) on investments
789,895
789,895		 2024
Total
Funds
£
7,473,548
7,473,548
2024
Total
Funds
£
312,241
(32,731)
279,510
(121,309)
(121,309)

Fixed asset investments are held at fair value with valuations obtained by reference to market prices from the appropriate stock exchange, bid prices and last traded prices where applicable.

Page 15

THE ROPER FAMILY CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

12. Comparative statement of financial activities

Note
INCOME AND ENDOWMENTS FROM:
Investments
1
Total
EXPENDITURE ON:
Raising funds
2
Charitable activities
3
Total
Net gains/(losses) on investments
7
Net Income/(expenditure)
Transfers between funds
10
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
9, 10
Total funds carried forward
9, 10		 Income
Fund
£
312,241
312,241
-
587,040
587,040
-
(274,799)
236,518
(38,281)
49,464
11,183		 Capital
Fund
£
-
-
32,731
-
32,731
(121,309)
(154,040)
(236,518)
(390,558)
8,959,812
8,569,254		 2024
Total
Funds
£
312,241
312,241
32,731
587,040
619,771
(121,309)
(428,839)
-
(428,839)
9,009,276
8,580,437

Page 16