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← The Lockwood Charitable Foundation

2025-04-05-accounts

THE LOCKWOOD CHARITABLE FOUNDATION ANNUAL REPORT | 5™ APRIL 2025

[Registered with the Charity Commission No: 1123272]

THE LOCKWOOD CHARITABLE FOUNDATION

TRUSTEES Mr R. Lockwood Mrs L. A. Lockwood Dr R. K, Lockwood

ADDRESS The Tithe Barn, The Avenue, Compton, Guildford, Surrey, GU3 IJW. CHARITY 1123272 REGISTRATION NUMBER

AUDITORS F, W. Smith, Riches & Co., 15 Whitehall, London, SWI1A 2DD. INVESTMENT Oberon Investments, BROKERS AND 2"! Floor, ADVISORS 6 Duke Street, London, SW1Y 6BN BANKERS C. Hoare & Co., 37 Fleet Street, London, EC4P 4DQ.

THE LOCKWOOD CHARITABLE FOUNDATION

Contents ofthe Financial Statements
Report ofthe Trustees 1
Report ofthe Independent Auditors 4
Statement ofFinancial Activities 7
Balance Sheet 8
Statement ofCash Flows 9
NotestotheFinancialStatements 10

THE LOCKWOOD CHARITABLE FOUNDATION

REPORT OF THE TRUSTEES

INTRODUCTION

The Trustees present their report together with the financial statements of the Foundation for the year ended 5" April 2025. The report and financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation’s trust deed, The Charities Act 2011 and 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 the Republic of Ireland (FRS102) (second edition).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number

1123272 — Registered in England and Wales

Trustees

The Trustees who served the Foundation during the year were as follows:

Mr R. Lockwood

Mrs L. A. Lockwood

Dr R. K. Lockwood

The day-to-day management of the Foundation is delegated to Mr R. Lockwood, supported by a consultant advisor since January 2024.

OBJECTIVES AND ACTIVITIES

The objective of the Foundation is to apply the income generated by way of investment income and donations for general charitable purposes. The income of the Foundation which amounted to £2,813,115 (2024: £446,007), is generated by the returns received on investments held (£753,198), bank deposit interest (£10,351) and donations received (£2,049,566). Professional investment managers are appointed by the Trustees to act as broker to the Foundation with the Trustees retaining overall responsibility for strategic direction in order to maximise returns. The Foundation does not raise funds from other sources.

Grants and donations to other charities, which amounted to £1,510,277 (2024: £359,337) before allocated costs, as set out in note 5, are made by the Foundation. At 5" April 2025 grants and donations of £730,000 were not yet paid and therefore are included within accruals. The policy of the Foundation is for the Trustees to carefully review applications and requests received for grants and donations as to whether the Foundation should support the application or request. The principal areas of support are outlined below in the review of the activities.

PUBLIC BENEFIT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s objectives and in planning future activities and setting the donation making policy for the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Foundation is constituted as an unincorporated charity under a Trust deed dated 7" February 2008, and constitutes an unincorporated charity. The present Trustees were appointed under the Trust Deed. New Trustees may be appointed by a resolution of the Trustees. Trustees are inducted and trained by existing Trustees and external providers as required to ensure they are able to undertake the role as a Trustee as required by applicable law. All decisions relating to the Foundation are made by the Trustees as there are no employees. The Trustees have given consideration to the major risks facing the Foundation, mainly in respect of investment performance, and have satisfied themselves that adequate systems and procedures are established to mitigate any risks.

2,

THE LOCKWOOD CHARITABLE FOUNDATION

REPORT OF THE TRUSTEES (Continued)

REVIEW OF ACTIVITIES

The Foundation has continued to pursue its objectives. During the year the Foundation received dividends (including fixed coupon interest amounts) of £763,549 (2024: £446,007) from its listed investments and cash deposits along with a donation of £2,049,566 (2024: £nil).

Grants and donations totalling £1,510,277 (2024: £359,337) before allocated costs have been made in furtherance of the Foundation’s objectives. Of this £730,000 is due to be paid in future periods. The Foundation supports a wide range of UK charities and made 41 grants ranging from £1,000 to £300,000 during the period covered, A wide range of causes were supported with the following areas of current interest:

The Foundation does not support medical research or make grants to individuals.

Unfortunately, due to the high volume of applications received the Foundation is only able to respond to those that have been successful. If you have not received a reply within six months, please consider it unsuccessful,

RESERVES POLICY

The Trustees have examined the requirement for free reserves, which are unrestricted funds, and considers it appropriate to have a level of reserves which will enable the Foundation to generate sufficient investment income for the Foundation to continue the range of charitable giving that it currently undertakes.

The Trustees’ policy is to distribute the Foundation’s incoming resources by way of grants and donations together with grants and donations from reserves if it deems the related grant or donation will furtherance the objectives of the Foundation whilst maintaining sufficient reserves to generate income in future periods to distribute.

The Trustees regularly review the level of reserves of the Foundation to ensure that they are adequate to fulfil the Foundation’s objectives.

The Foundation reported a net increase in funds for the year of £1,450,066. As shown on note 11, page 16, the free unrestricted reserves at 5" April 2025 were £7,636,099.

At 5" April 2025 the Foundation had committed to pay donations totalling £730,000 in future periods and these amounts are included within accruals. Of this total £410,000 is due to be paid within one year and £320,000 is due to be paid after more than one year.

INVESTMENT POLICY

The Trustees’ investment policy is to generate a sufficient total return, in order to fund the approximate level of expenditure envisaged by the Trustees in accordance with the Foundation’s objects. The Trustees believe that funds should be invested to provide the maximum total return commensurate with the level of risk agreed between itself and its advisors. Overall, the portfolio should provide the opportunity for capital and income growth to meet the objectives of the Foundation and should provide some protection against inflation.

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THE LOCKWOOD CHARITABLE FOUNDATION

REPORT OF THE TRUSTEES (Continued)

FUTURE PLANS

In the future, the Foundation plans to maximise its investment returns and to distribute the Foundation’s incoming resources on a similar basis to the policies outlined above that are currently being adopted.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the Foundation is exposed, in particular those related to the operations and finances of the Foundation and is satisfied that systems are in place to mitigate the exposure to the major risks,

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources, including the income and expenditure, of the Foundation for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation 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 Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of Trustees on 15 January 2026 and signed on its behalf by:

Mr R Lockwood - Trustee

4,

THE LOCKWOOD CHARITABLE FOUNDATION

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE LOCKWOOD CHARITABLE FOUNDATION

OPINION

We have audited the financial statements of The Lockwood Charitable Foundation (the ‘charity’) for the year ended 5 April 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 (UR)) 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 annual report other than the financial statements and our auditors’ 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.

5,

THE LOCKWOOD CHARITABLE FOUNDATION

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE LOCKWOOD CHARITABLE

FOUNDATION (Continued)

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:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ responsibilities statement set out on page 3 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.

AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The laws and regulations that were identified as being of significance to the entity were the Charities Act, Tax legislation and UK financial reporting standards.

6,

THE LOCKWOOD CHARITABLE FOUNDATION

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE LOCKWOOD CHARITABLE

FOUNDATION (Continued)

AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

(Continued)

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims and actual or potential breaches of regulations; inspection of relevant legal and regulatory correspondence; review of meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud may be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.fre.org.uk/auditorsresponsibilities. This description forms part of our auditors’ 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 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 body, for our audit work, for this report, or for the opinions we have formed.

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F. W. Smith, Riches & Co. Chartered Accountants and Statutory Auditors, 15 Whitehall, London, SW1A 2DD, 15 January 2026

F, W. Smith, Riches & Co. is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

7,

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THE LOCKWOOD CHARITABLE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5'™ APRIL 2025

Notes 2025 2024
Income
Investment income 3 763,549 446,007
Donations received 4 2,049,566 -
Totalincome 2,813,115 446,007
Expenditure:
Cost ofraising funds 6 5,083 3,423
Charitable activities 5 1,529,286 362,054
Other 6 6,290 (696)
Total resources expended 1,540,659 364,781
Net income and net movement
in funds before gains on investments 1,272,456 81,226
Unrealised gain on investment assets 7 39,164 121,006
Realised gainoninvestment assets 7 138,446 143,337
Net movement in funds 11 1,450,066 345,569
Total funds brought forward 11 6,186,033 5,840,464
Totalfundscarriedforward 11 £7,636,099 £6,186,033

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

THE LOCKWOOD CHARITABLE FOUNDATION

BALANCE SHEET AS AT 574 APRIL 2025

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||||||| |---|---|---|---|---|---| |Notes|2025|2024| |FIXED|ASSETS| |Listed|investments|at market value|7|9,871,329|6,516,036| |CURRENT|ASSETS| |Debtors|8|178,432|97,416| |Cash|at bank|429,325|1,683,352| |607,757|1,780,768| |CREDITORS:|Amounts|falling|due| |within|one year|9|(422,987)|(10,771)| |NET CURRENT ASSETS|184,770|1,769,997| |TOTAL ASSETS LESS CURRENT|LIABILITIES|10,056,099|8,286,033| |CREDITORS:|Amounts|falling|due| |after|one year|10|(2,420,000)|(2,100,000)| |TOTAL NET ASSETS|£7,636,099|£6,186,033| |Funds|of the|Foundation| |Unrestricted|funds|11|7,636,099|6,186,033| |TOTAL CHARITY FUNDS|£7,636,099|£6,186,033|

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The financial statements on pages 7 to 16 were approved by the Trustees on 15 January 2026 and signed on its behalf by:

Mr R Lockwood — Trustee

THE LOCKWOOD CHARITABLE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5™ APRIL 2025

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||||||||| |---|---|---|---|---|---|---|---| |Notes|2025|2024| |NET MOVEMENT|IN FUNDS|1,450,066|345,569| |Adjustments|for:| |Increase|in|debtors|(81,016)|(20,580)| |Change|in|fair value|of investments|(177,610)|(264,343)| |Increase|in|creditors|732,216|771| |Net|cash|generated|from|operating| |activities|1,923,656|61,417| |Cash|flows|from|investing|activities| |Purchase|of investments|(3,797,683)|(1,329,553)| |Disposal|of investments|620,000|1,087,407| |Net|cash|used|in|investing|activities|(3,177,683)|(242,146)| |Net|decrease|in|cash|and| |cash|equivalents|(1,254,027)|(180,729)| |Cash and|cash|equivalents|at the| |beginning|of the|year|1,683,352|1,864,081| |Cash|and|cash|equivalents|at|the| |end|of the year|£429,325|£1,683,352|

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THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

  1. ACCOUNTING POLICIES

  2. a) BASIS OF PREPARATION The financial statements have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements, These 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 (FRS102) (second edition) — (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’, This departure has involved following ‘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) (Second Edition)’ rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Lockwood Charitable Foundation meets the definition of a public benefit entity under FRS102.,

The Trustees consider that there are no material uncertainties about the Foundation’s ability to continue as a going concern and constitutes a public benefit entity as defined by FRS102.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires the Trustees to exercise their judgement in the process of applying the Foundation’s accounting policies, The areas involving a higher degree ofjudgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

b) INCOME RECOGNITION All income is recognised once the Foundation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised once received, In the event that a donation is subject to conditions that require a level of performance before the Foundation is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Foundation and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Foundation; this is normally upon notification of the interest paid or payable.

c) EXPENDITURE RECOGNITION Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Foundation to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5™ APRIL 2025 Continued)

1, ACCOUNTING POLICIES (continued)

Short term debtors and creditors

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 Statement of Financial Activity.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Other loans (concessionary loans)

Amounts which are received in the form of loans which were received to further the Foundations purposes are treated as a concessionary loan. These loans are initially recognised at the amount received, with the carrying value adjusted to reflect repayments.

The main form of financial risk faced by the Trust is that of volatility in investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

h) FOREIGN CURRENCY TRANSLATION Functional andpresentational currency

The functional and presentational currency of the Foundation is the pound Sterling.

THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5™ APRIL 2025 (Continued)

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions, At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of financial activities.

All foreign exchange gains and losses are presented in the statement of financial activities under the heading finance costs.

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2. JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In preparing the financial statements, the Trustees are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst the Trustees have made judgements, estimates and assumptions in preparing the financial statements, they consider that these have not had a significant effect on amounts recognised.

  1. INVESTMENT INCOME

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|||||||| |---|---|---|---|---|---|---| |2025|2024| |Dividends|from|listed|investments|357,365|160,515| |Interest|receivable|from|listed|investments|395,833|276,443| |Bank|interest|received|10,351|9,049| |£763,549|£446,007| |2025|2024| |Donations|received|from|individuals|2,049,566|-| |£2,049,566|£|-|

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4, DONATIONS

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THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5'™ APRIL 2025 (Continued)

5, GRANTSANDDONATIONS PAYABLE
The total grantsmade (either paid orpayable) to institutions duringthe yearwere as follows:
2025 2024
TheNational House Project (payable over 3 years) 300,000 -
BipolarUK (payable over 3 years) 250,000 -
Suicide& Co (payable over 3 years s) 250,000 -
Home-StartUK (payable over 2 years) 130,000 -
Paradigm Trust (payable over 2 years) 100,000 ~
Home-StartRichmond, Kingston&Hounslow
(to paid over three years)		 76.740
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We are Connectors 37,537 -
Intermission Youth 25,000 -
Cherry Trees 20,000 -
Lyric Theatre Hammersmith Ltd 20,000 -
Pennyhooks Farm Trust 20,000 -
Shrewsbury FoodHub 20,000 -
Shooting Stars Hospice 20,000 25,000
TheArundel Castle CricketFoundation 20,000 25,000
BackUp Trust 18,000 -
AzaleaLuton 15,000 -
CinnamonNetwork 15,000 -
Mane Chance Sanctuary 15,000 15,000
TheBookBus Foundation 15,000 .
Broadway Lodge 10,000 -
Build It International 10,000 -
Charlie’s Promise 10,000 -
City Harvest 10,000 -
Princess Alice Hospice 10,000 ~
ReGenerate 10,000 25,000
RestartFoundation 10,000 .
Strongbones Children’s Charitable Trust 10,000 -
MissingPeople Ltd 8,000 -
Challengers 5,000 -
DentAid 5,000 -
Disability Challengers 5,000 -
GASPMotor Project Guildford 5,000 -
Help2Read 5,000 5,000
North GuildfordFood Bank 5,000 -
Sideby Side 5,000 -
Tools4Teens Hackney 5,000 -
Voluntary ActionSW Surrey 5,000 -
Headway Surrey 4,000 -
Lords Taverners 2,500 -
The Surrey Churches Preservation Trust 2,500 -
West SussexMIND 1,000 -
CarriedforwardtoPage14 £1,510,277 £95,000

14,

THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5™ APRIL 2025

5.

GRANTS AND DONATIONS PAYABLES (continued)

(Continued)

GRANTS AND DONATIONSDONATIONS PAYABLES (continued)
2025 2024
Brought forward from Page 13 £1,510,277 £95,000
TheKensington and ChelseaFoundation - 75,000
Dementia Carers Count - 50,000
Spark Somerset - 37,537
Childrens LiverDisease Foundation - 25,000
Sports Trader - 25,000
School Readers - 20,300
Home Start Guildford - 20,000
Arthouse Unlimited - 10,000
Royal TrinityHospice - 1,500
£1,510,277 £359,337
Allocated costs (note 6) 19,009 2,717
£1,529,286 £362,054

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  1. ALLOCATION OF SUPPORT COSTS

An analysis of the Foundations governance and support costs is given below:

2025 2024
Otherresources expended
Investment manager fees 5,083 3,423
Bank charges 490 430
Foreignexchange gain - (6,896)
Governance costs
Auditors’ remuneration (inclusive ofVAT)—currentyear 2,900 2,760
Accountancy fees (inclusive ofVAT)—currentyear 2,900 2,760
Auditors’ remuneration(inclusive ofVAT)—prioryearadditional fee - 125
Accountancy fees (inclusive ofVAT)—prioryear additional fee - 125
Consultancy costs 19,009 2,717
£30,382 £5,444
Cost allocation:
Cost ofraising funds 5,083 3,423
Charitable donations (note 5) 19,009 2,717
Other 6,290 (696)
£30,382 £5,444

THE LOCKWOOD CHARITABLE FOUNDATION

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5'™ APRIL 2025 (Continued)

7, FIXED ASSET INVESTMENTS - LISTED

FIXED ASSET INVESTMENTSASSET INVESTMENTSINVESTMENTS - LISTEDLISTED
£
Cost Fair value
At6"April 2024 £6,631,448 £6,516,036
Additions
Disposals
Realised gain		 3,797,683
(481,554)
-		 3,797,683
(620,000)
138,446
Unrealised gain - 39,164
At5April 2025 £9,947,577 £9,871,329
Investments at fair value comprise:
2025 2024
UKFixed Interest 9,153,095 5,803,486
Overseas Fixed Interest 718,234 712,550
£9,871,329 £6,516,036

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Investments are financial assets measured at fair value through the statement offinancial Investments are financial assets measured at fair value through the statement offinancial activities. The
basis offair value is marketvalue. Asset sales andpurchases are recognised atthe date oftrade trade at cost.
8. DEBTORS
2025 2024
Accrued income £178,432 £97,416
9, CREDITORS: Amounts falling due within oneyear
2025 2024
Trade creditors 5,520 5,250
Accruals for grants payable 410,000 -
Accruals 7,467 5,521
£422,987 £10,771
10. CREDITORS: Amounts falling due after more than oneyear
2025 2024
Accruals for grants payable 320,000 -
Concessionary loans 2,100,000 2,100,000
£2,420,000 £2,100,000

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Concessionary loans are unsecured, interest free with no fixed date of repayment (see note 13).

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THE LOCKWOOD CHARITABLE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5™ APRIL 2025 (Continued)

  1. MOVEMENT IN FUNDS

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|||||| |---|---|---|---|---| |General| |unrestricted| |funds| |At 6" April|2024|£6,186,033| |Net movement|in|funds|in year|1,450,066| |As|at 5" April 2025|£7,636,099|

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Net movement in funds, included in the above are as follows:

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||||||| |---|---|---|---|---|---| |Incoming|Resources|Gains|and|Movement|in| |resources|expended|losses|funds| |£|£|£|£| |Unrestricted|funds| |General|fund|2,813,115|(1,540,659)|177,610|1,450,066|

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  1. TRUSTEES’ REMUNERATION AND BENEFITS

There were no Trustees’ remuneration or other benefits for the year ended 5" April 2025 nor for the year ended 5" April 2024.

There were no Trustees’ expenses paid for the year ended 5" April 2025 nor for the year ended 5" April 2024.

13, RELATED PARTY DISCLOSURES

The Foundation is controlled by its Trustees.

Mr R. Lockwood, a Trustee, provided an interest-free loan with no fixed repayment terms to the Foundation which the Foundation has treated as a concessionary loan. At 5" April 2025 the amount due to Mr R. Lockwood was £2,100,000 (2024: £2,100,000).

Mr R Lockwood has confirmed that he does not intend to seek repayment of the outstanding £2,100,000 loan within the next twelve months from the date of approval of these financial statements, accordingly, the loan is included in the balance sheet as repayable within more than one year.

Mr R Lockwood also made a voluntary £2,049,566 donation to the charity during the year (2024: £nil). The donation was made without conditions, and no Trustee benefits or expenses were received in connection with it,

14, ANALYSIS OF CHANGES IN NET DEBT

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|||||||||| |---|---|---|---|---|---|---|---|---| |At|6|April|Cash|At|5|April| |2024|flows|Non-cash|2025| |£|£|£|£| |Cash|at|bank|and|in hand|1,683,352|(1,254,027)|-|429,325| |Concessionary|Loans|(2,100,000)|-|-|(2,100,000)| |.|(416,648)|(1,254,027)|-|(1,670,675)|

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