The Cayzer Family Archive
Report and financial statements
Year ended 31 March 2025
Charity number: 1122921
Registered in England & Wales No. 06212781

The Cayzer Family Archive
Contents
Page
Report of the Board of Trustees
Independent examiner's report
Statement of financial activities
Balance sheet
Statement of cash flows
Notes to the financial statements

The Cayzer Family Archive
Report of the Board of Trustees
The Board of Trustees presents its report, which is also the directors, report for the purpose of company law,
and the financial statements of the charity for the year to 31 March 2025.
Reference and admlnlstrative information
Dlrectors and trustees
The directors and trustees are as follows:
The Hon. Mrs Gilmour
James Michael Beale Cayzer-colvin
Edward George Ringrose Latham (appointed 19 June 2025)
Dominic Vaughan Gibbs {secretary and director)
Sonia Claire Barry
The Hon. Mrs Gilmour and Mr Dominic Gibbs were each appointed on 31 May 2007. Mrjames Cayzer-colvin
and Mrs Sonia Barry were each appointed on 29 May 2020. All served throughout the financial year. Mr
(Edward) George Latham was appointed after the year-end. on 19 June 2025.
The directors of the charitable company are its trustees for the purpose of charity law and throughout this
report are collectively referred to as the trustees.
Secretary and registered office:
Dominic Vaughan Gibbs
Cayzer House
30 Buckingham Gate
London SWIE 6NN
Solicitors:
Broadfield Law {UK} LLP
One Bartholomew Close
London ECIA 7BL
Bankers..
The Royal Bank of Scotland plc
Drummonds Branch
49 Charing Cross
London SWIA 2DX
Independent examiner:
S J Wakefield ACA
Dixon Wilson Chartered Accountants
22 Chancery Lane
London WC2A ILS
Structure• governance, and management
The Cayzer Family Archive is a company limited by guarantee and governed by its current Memorandum and
Articles of Association. The company was incorporated on 13 April 2007 under number 06212781 and the
charity was registered by the Charity Commissioners for England and Wales on 22 February 2008 undercharity
number 1122921.

The Cayzer Family Archive
Report of the Board of Trustees (continued)
Structurei governance, and management (continued)
The power of appointing new trustees is as set out in the Memorandum and Articles of Association and shall
be a maximum of six and a minimum of three. New trustees may be elected by a simple majority at any
meeting of the board. At any one time the majority of the trustees shall be members of the Cayzer family.
The board of trustees, which meets at least twice a year, administers the charity and agrees the broad strategy
and areas of activity forthe charity, including investment policy, risk management, reserves, and performance.
All trustees give their time freely and no trustee remuneration was paid in the year. Details of related paity
transactions are disclosed in note 12 to the accounts.
The Memorandum and Articles of Association gives the trustees the powerto accept subscriptions, donations,
devises, and bequests of any real or personal estate, and to accept transfers of property and assets and gifts
of money etc., but prohibits the trustees frorn undertaking any permanent trading activities for the purpose
only of raising funds for the objects of the charity.
Objectives and artivities
The object of the charity is to advance education for the public benefit by the preservation, maintenance, and
exhibition of the books, letters, manuscripts, and other memorabilia, which together form the historical
archives of the Cayzer family and the Cayzer family businesses.
On 28 March 2008, the charity received a substantial cash endowment from The Hon. Mrs Gilmour, which wa5
applied in part to defray formation, set-up, and other costs. The balance of the endowment is retained as an
expendable endowment. Further donations from The Hon. Mrs Gilmour were received in subsequent years,
and were added to the expendable endowment. The trustees will not consider making grants to people or
organisations who apply speculatively, except to further the aims and objects of the charity. The trustees also
have a policy of not responding to any correspondence unless It relates to any grants it has agreed to make or
to the general management and administration of the charitv.
The trustees record historical archive material on the charity's electronic cataloguing system, CALM. The
charity also maintains a detailed website which contains catalogues and extracts of material held, as well as
examples of specific artefacts. The website was substantially updated in 2020-21 and moved onto a more
modern platform. Further to this, a comprehensive family tree was added to the website in 2022-23, and an
interactive section showing details of the routes travelled by Clan Line and Union-castle Line ships was added
during the year to 31 March 2024, with the aim to develop this further as time goes on.
The charity leases an archive room and an office at a peppercorn rent. This rental agreement runs until August
2027. The estimated value of the peppercorn rental is £16,014 (2024 - £16,014}, and is shown as voluntary
income and then offset as rental expenditure in the account5.
The trustees, having regard to the Public Benefit Guidance published by the Charity Commission in accordance
with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the
requirements of the public benefit test set out in section 4 of the same Act.
Achievements and performance
Duringthe year, the archivist carried out considerable research into the 1965 gold bullion theft that took place
on a Union-castle passenger ship heading from Southampton to south Africa. The Archive had previously
been donated a file belonging to one of the directors in the Cape Town Office, which contained newspaper
cuttings. correspondence, telegrams, and other material in relation to the robbery. The research was
extremely fruitful, and the archivist delivered a talk on the topic in December 2024, as well as compiling a
report for inclusion in the annual electronic mail-out to subscribers to the Archive's mailing list, and for
eventual upload to the Archive's website. The location of the robbery was also added to the shipping routes
section of the Archive's website.

The Cayzer Family Archive
Report of the Board of Trustees (continued)
Achievements and performance (continued)
Along with a number of other visitors through the year, Dr Jerome Wynter PhD, an American academic
researching le55er-known Victorian poets, arrived at Cayzer House in June to carry out research into Charles
Whitworth Wynne (Cayzerl, a son of the first Sir Charles Cayzer. As well as invigilating on the day5 Dr Wynter
visited the Archive, the archivist prepared a report on Charles Whitworth Wynne, for inclusion in the Archive
papers and eventual upload to the Archive's website.
Early in the yearthe archivist carried out research into the Afghan Church in Colaba, Mumbai, highly significant
to the Cayzer family as it was in this church that the Founder of the family business, Charles Cayzer, married
Agnes Trickey, in 1868. The results of this research were compiled into a report by the archivist for inclusion
in the Archive's papers.
Following the discovery of a rare photograph of the wedding party of Herbert (Bertie} Cayzer and Freda
Rathborne in 1911, the archivist carried out some research into this wedding, forwhich the Bride's dress attire
was sketched for different newspapers. This fascinating look into an Edwardian society wedding was a good
example of the valuable social history within theArchive. The archivistagain compiled a report on the research
for addition to the Archive papers.
Among various requests received and dealt with in the year, the archivist responded to a request for
information and a specific passenger list from 1962, relating to an individual who had signed up for contrart
service with the British South Africa Police, and who wanted to research the variou5 Other recruits with whom
he had sailed.
As usual, the archivist attended the annual reunion of ex-clan Line officers in Liverpool in October 2024, along
with around 100 former members of staff. These reunions are an excellent source of information, as well as
donations of relevant material.
Turning to acquisitions, the largest in the year was the donation of Union-castle papers and other related
items from the Laister Collection of maritime artefacts. These included old staff magazines, menus, and
brochures. The archivist arranged the display of most of these at Cayzer House, with due credit given to the
Laister collection. One small acquisition was a livery button that a metal detectorist found in the ground on
the outskirts of Gartmore village, Sir Charles and his family occupied Gartmore House for many years, and the
button bears Sir Charles, crest and family motto. The archivist prepared a report on this acquisition for
inclusion in the annual mail-out.
Flnanclal review. investment policy. and reserves policy
The charivs investment powers are prescribed in the Memorandum and Articles of Association and these
give the trustees very wide powers of investment.
On 28 March 2008, The Hon. Mrs Gilmour donated £600,000 to the charity under the gift aid scheme as an
expendable endowment and has since donated a further £750,000. All amounts have been treated as
additions to the endowment along with the applicable gift aid received. This endowment fund has been
invested to earn income to meet operational cost5 and the charity's objectives. The trustees regularly monitor
the cash flow to ensure there are adequate funds to cover charitable expenditure. The trustees do however
have the power to spend the expendable endowment as necessary.
Total expenditure in the year came to £81,381 (2024- £81,461), representing only a very minor change from
the prior year.
The charity holds an investment porrfolio under the discretionary management of Charles Stanley. Other
investment5 include funds invested in the Church House Fixed Interest Fund, the Troy A55et Management
Trojan Income Fund, and the Troy Asset Management Trojan Fund, along with smaller investments in
Caledonia Investments PIC and The Cayzer Trust Company Limited. No significant changes are planned to the
investment strategy.

The Cayzer Family Archive
Report of the Board of Trustees (continued)
Financlal review, investment policy. and reserves policy (continued)
Total gains on investment assets during the year were £8,747 (2024 - £57,223). These gains were a result of
general market movements in the year.
At 31 March 2025 the total reserves held were £2,670,190 (2024 - £2,653,027). These reserves are
predominantly endowment resenies held in order to generate income for ongoing annual operating costs.
The charity maintains cash reserves for between one and two years of normal expenditure.
Risk management
The trustees annually review the risks facing the charity. The charity's risks include risks in relation to the
management of investment assets and these have been ameliorated by diversification over investment
mangers and sectors of the economy. Risks in relation to the physical security over the archive's artefact5 and
other documents are mitigated by insurance, controls over acces5, continued cataloguing and scanning of
documents by the professional archivist, and maintenance agreements for artwork and shipping models.
Statement of trustees, responsibilitles
The charity trustees are responsible for preparing a trustees, annual report and financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each 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 for
that year. In preparing those financial statements the trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principle5 in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been
followed, subject to any departures disclosed and explained in the financial statement5; and
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charity and to enable them to ensure that the financial statements
comply with the Companies Act 2006. They are a150 responsible 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 the Board of Trustees on l( OC(4￿lberf 20kn-
and signed on its behalf bv
The Hon. Mrs Gilmour
Chairman

## **The Cayzer Family Archive** 

## **Independent examiner’s report to the trustees of The Cayzer Family Archive (‘the Company’)** 

I report to the trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 

## **Responsibilities and basis of report** 

As the charity trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).  You are satisfied that an audit is not required for this year under charity or company law and that an independent examination is needed. 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’).  In carrying out my examination I have followed the Directions given by The Charity Commission under section 145(5)(b) of the 2011 Act. 

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts.  The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.  Consequently I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. 

## **Independent examiner’s statement** 

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. 

I have completed my examination.  I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

S J WAKEFIELD ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS 

12 December 2025 

5 5 



The Cayzer Family Archive
Statement of financial activites for the year to 31 March 2025
Expendablè
Unrestritted Endowment
lund
fund
Expendable
Endowment
fund
Totsl
2025
Unrestricted
fund
Total
2024
Income
Donations
Investment income
37.316
52,481
37,316
52,481
40.014
50,554
40,014
50,447
(107)
Total Income
89,797
89,797
90,568
(107)
90,461
Expenditure
Expenditure on charitable activities
Costs of raising funds
72.483
6.440
2,458
78,923
2,458
72.908
6,233
2,320
79.141
2,320
Total expendlture
72,483
8,898
81,381
72,908
8.553
81,461
Net gains on investments
8,747
8.747
57,223
57,223
Net income I (expenditure) and
net movement in funds
17,314
11511
17.163
17,660
48,563
66.223
Reconciliation of lunds
Total funds brought forward
967.254
1,685.773
2,653,027
949,594
1.637.210
2.586,804
Total fund5 carried forward
io
984,568
1,685,622
2,670,190
967,254
1,685,773
2,653,027
This statement of financial activities includes all gains and losses in the year.
All income and expenditure derives from continuing activities.
The notes on pa8es 9 to 14 form an integral part of these financial statements.

The Cayzer Family Archive (company no. 06212781)
Balance sheet at 31 March 2025
Expendable
Unrestricted Endowment
fund
fund
Expendable
Endowment
fund
Total
2025
Unrestricted
fund
Total
2024
Note
Fixed assets
Tangible assets
Heritage assets
Investments
48,423
48.423
903.205
1,551.265
54,863
54,863
891,903
1.544.978
903,205
891.903
1,551.265
1.544.978
903,205
1,599.688
2,502,893
891,903
1.599,841
2,491, 744
Current assets
Debtors
Cash at bank and in hand
47
88.031
47
174,583
35
84.374
35
86.552
86.552
170,926
88,078
86,552
174,630
84,409
86,552
170,961
Credltors fallin8 due within one year
Other creditors
16.7151
16181
17,3331
(9.058)
(620)
(9.678)
Net current assets
81,363
85,934
167,297
75,351
85,932
161,283
Net assets
984,568
1,685,622
2,670.190
967,254
1.685,773
2.653.027
The funds of the ¢harity:
Unrestricted fund
Expendable endowmentfund
io
io
984,568
984.568
1.685.622
967,254
967.254
1,685, 773
1,685,622
1.685,773
984,568
1,685,622
2,670.190
967,254
1.685,773
2,653,027
Audit exemption
For the year to 31 March 2025 the company was entitled to exemptlon from audit under section 477 of the Companies Act 2006, relating to small
companies.
al The member5 have not required the company to obtaln an audit of its accounts for the year in question in accordance with section 476.
bl The dirertors acknowledge their responsibilities for complying with the requirements of the Att with respect to accounting records and the
preparation of accounts.
cl These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime in
part 15 ofthe Companies Att 2006.
Approved by the Board of Trustees on
and signed on their behalf bv
The Hon.
Chairnian
Gilmour
Mrs Sonia 8arry
Dirertor l Trustee
The notes on pa8es 9 to 14 form an integral part of these financial statements.

The Cayzer Family Archive
Statement of cash flows for the year to 31 March 2025
Note
Total
2025
Total
2024
Net cash used in operatlng activities
13
148,8251
f32, 722)
Cash flows from investing activities
Interest and dividends
Investment management cost5
Movement of cash within investment portfolio
Purchases of investrnents
Sales of investment5 1 returns of capital
Purchases of tangible assets
52,481
12,459}
110,5291
127,3781
40,367
50.554
(2.277)
477
(53,531)
55,330
18,lOOJ
Net cash provided by by investing activities
52.482
42.453
Change in cash and cash equivalents in the year
3,657
9,731
Cash and cash equivalents brought forward
170,926
161,195
Cash and cash equivalents carried forward
174,583
170.926

The Cayzer Family Archive
Notes to the financial statements for the year to 31 March 2025
Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting
by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 issued on 2 October 2019 and the Charities Act 2011. the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 1021, and the Companies Act 2006.
The Cayzer Family Archive meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about the company's ability to continue as a going concern, and that there
are no key 355umption5 that affect items in the accounts.
Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of o winding-up is
limited to £1.
Income recognltlon
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount
can be measured reliably.
Gift aid reclaimable on donations to the charity is included with the amount received.
Dividends and other income from investments are recognised in the financial statements when the charity is entitled to the income.
Income from cash deposits is included on an accruals basis.
Expenditure ￿Co£nitIon
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that
settlement will be required, and the amount of the obligation can be measured reliably.
Expenditure is included in the accounts on an accruals basls.
Irrecoverable VAT has been charged against the relevant expenditure.
Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value. Subsequently, investments
are valued at at their fair value at the balance sheet date. using the closing market price for listed investments. and using market price
where available, or the trustees, valuation based on dealing prices or other information available as appropriate for unlisted investments.
The 5t3tement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
Donated facilities
These are only included as income (with a corresponding amount recognised in expenditure) when the benefit to the charity15
probable and can be measured reliably. The value placed on these resources is the estimated value of the gift to the charity. which 15
the amount the charity would have been willing to pay to obtain facilities of equivalent economic benefit on the open market.
Flxed assets
. Website development costs have been capitali5ed as future economic benefits to the charity are expected in the form of the provision
of educational material to the public. These costs are written off over 15 years from the launch date of any components as the economic
benefits are expected to continue for the long term.

The Cayzer Family Archive
Notes to the financial statements for the year to 31 March 2025 (continued)
Accounting pollcles (contlnued)
Heritage assets
Heritage a55ets consist of a number of artefacts that were purchased by the archive in October 2013. and additional items that have been
purchased or donated since then. Upon receipt donated items are valued at cost or trustees. estimated value. A revaluation exercise was
undertaken in the year ended 31 March 2019. after which artefacts were valued at market value. The revaluation was undertaken by a
a specialist auction house.
These assets will not be depreciated as it is not expected that their value will diminish over time. This is in accordance with Section 18
of the SORP.
The acquisition of herrfage assets is only with the agreement of the trustees. considering the expected cultural and knowledge value
that would be brought to the charity's existing collection.
A number of other heritage items have also been loaned to the archlve under a8reement, but are not beneficially owned by the charity
and have not been recorded in these accounts.
2025
2024
Donatlons
Unrestnctedfund
Cash donations
Donations in kind lartefartsl
Donations in kind {rentall
10,000
11,302
16,014
24.000
16.014
37,316
40,014
The charity leases the archive rooms at a peppercorn rental. The value to the charty is calculated using the market rental square footrate
payable by other tenants of the building. The corresponding rental expense is disclosed within archive occupancy cost5.
2025
2024
Investment Income
UK listed investments
UK unlisted investments
Overseas listed investments
Interest income
22,986
2,935
3,196
22.788
576
24,386
2,818
3.121
19.484
638
Property income distributions
52.481
50,447
All investment income in both years ar05e in the unrestricted fund. with the exception of £107 of accrued UK interest income
charges in the prior year, which ar05e in the expendable endowment fund.
10

The Cayzer Family Archive
Notes to the financial statements for the year to 31 March 2025 (continued)
2025
2024
Expenditure on charitable artivities
Unrestri(tedAund costs
Dirert costs
Archive occupancy costs
Archiving costs
Wages & salarie5, including processing costs - archivist
Special projects
Bank charges
23,452
3,459
40,017
24,364
3,619
36,903
125
60
60
66.988
65,071
Governance costs
Independent examination fee
Accounts preparation and administration fee
Compliance costs
1,620
3.840
35
1.560
6.242
35
5.495
7,837
72,483
72.908
Expendable endowmentfvnd costs
Direct COSt5
Website amortisation
6,440
6.233
78,923
79,141
2025
2024
Tangible fixed assets (expendable endowment fund)
Charity website
Cost - opening balance 3t l April
Additions
96,699
8.100
C05t - closing balance at 31 March
96,699
96,699
Accumulated amortisation - opening balance at l April
Amortisation foryear
141,8361
{6,4401
(35,603)
(6,233)
Accumulated amortisation - closing balance at 31 March
148.276}
(41,836)
Net book value at 31 March
48,423
54.863

The Cayzer Family Archive
Note5 to the financial statements for the year to 31 March 2025 (continued)
Herltage assets (unrestrlrted fund)
2025
2024
2023
2022
2021
Fair value / cost - opening balance at l April
Donations of artefacts
Artefacts written out and valuation change5
891,903
11,302
891,903
882,602
9.301
880,602
880.602
Fair value / cost- closing balance at 31 March
903,205
891,903
891,903
882,602
880,602
Various artefacts were donated during the years ended 31 March 2020, 31 March 2023, and 31 March 2025, all by The CayzerTrust
Company Ltd, and have been valued at cost.
A revaluation by Charles Miller Ltd was undertaken in November 2018. Charles Miller Ltd are a speci31ist auction house dedicated to
the sale of marine. maritime, nautical. and scientific antiques.
Maintenance and insurance of the heritage assets is the responsibility of Caledonia Investments plc under an agreement dated 25
October 2013. The artefacts are insured for the full values stated in the accounts.
2025
2024
Flxed assets- investments (expendablÈ endowment fund)
Movement in fixed asset Investments:
Opening fair values at l April
Purchases
Disposal proceed5
Movement in portfolio cash
Net gains on revaluation and disposals
1.544,978
27,378
{40,367)
10,529
8.747
1.490.138
53.424
(55.330)
f477J
57,223
Closing fair values at 31 March
1.551.265
1,544,978
Investments at falr value comprise:
Equities
Fixed income
Property and alternatives
Capital cash held within the investment portfolio
1,106,885
411,282
21.942
11,156
1,094.772
411,899
37.680
627
1.551,265
1,544,978
Fair
value
Fair
value
Material investments at 31 March
Church House Investment Grade Fixed Interest Fund
Trojan Income Fund
Trojan Fund
350,154
418,254
195,731
351.465
413.652
186,614
12

The Cayzer Family Archive
Notes to the financial statements for the year to 31 March 20251continued)
2025
2024
Debtors
Unrestrictedfund debtors
Prepayments and accrued income
47
35
2025
2024
Creditors falling due within one year
Unrestrictedfund creditors
Creditors
6,715
6,715
9.058
9,058
Expendoble endowmentfund creditors
Accruals
618
620
7,333
9.678
2025
2024
10. The funds of the charfty
Unrestricted
Balance at l April
Incoming resources
Resources expended
967,254
89,797
172.483}
949,594
90,568
(72,908)
Balance at 31 March
984,568
967,254
Expendable endowment
Balance at l April
Incoming resources
Resources expended
Gain on investment assets
1,685.773
1,637.210
1107)
18 553)
57,223
18.8981
8,747
Balance at 31 March
1,685,622
1,685,773
11. Employees
The average number of staff employed by the archive during the year was 112024 - 1}.
12. Transactions With trustees or connetted person5
An administration fee of £3,84012024- £6,2421 15 payableto a company ofwhich The Hon. Mrs Gilmour, MrJames Cayzer-colvin,
Mr Dominic Gibbs. and Mrs Sonia Barry are directors.
No other arrangement, including transactions, contracts and grants, existed during the accounting period with trustees or connected
persons. No trustees, or connected persons, received remuneration directly or indirertly from the charity during the accounting period
nor did the trustees receive reimbursement of any expense5.
13

The Cayzer Family Archive
Notes to the financial statements for the year to 31 March 2025 (continued)
2025
2024
13. Reconciliatlon of net movement In funds to net cash flow from operatlns artlvltles
Net movement in funds
Deduct donations in kind and artef3cts donated
Deduct investment income and expen5e5 shown in investing activities
Add back non cash expenditure
Deduct gain on revaluation and disposal of investments
Increase in operating debtors
(Decrease) / increase in operating creditors
17.163
(27,3161
{50,023
22,454
18,7471
1121
12,3441
66.223
(16,014J
(48,127)
22,247
(57.223)
172
148.8251
(32, 722)
2025
2024
14. Reconciliation of net debt
At l April (all held in cashl
Cash flows for the year
170.926
3,657
161.195
9.731
At 31 March (all held in cashl
174.583
170.926
15. Taxation
The charity is a registered charity and is thus exempt from taxation of its income and gains f311ing within Part 11 of the Corporation Tax
Act 2010 to the extent that they are applied to it5 charitable objectives. No tax charge5 have arisen in the charity.
16. Flnanclal assets and Ilabllltles
The following are financial assets and financial liabilities that qualify as basic financial instruments and are initially recognised at
transaction value and Subsequently measured at their amortised cost.
2025
2024
Financiol assets
Debtors
47
35
Finoncial liobilities
Creditor5
Accruals
6.715
618
9,058
620
7,333
9,678
The following are financial assets and financial liabilities that qualify as basic financial instruments and are initially recognised at
transaction value and subsequently measured at their fair value as at the balance sheet date, using the closing market price.
Finonciulossets
Investments
1,551.265
1,544,978
17. Events after the end of the reporting period
There are no events that have occurred since the end of the reporting period that require disclosure under FRS 102.
14