The Clare Foundation Limited A Company Limited by Guarantee Financial Statements For the year ended 31 December 2025 Charity Number 1131949 Company Number C6995233
The Clare Foundation Limiled A Company Llmited by Guarantee Flnancial statements for the year ended 31 December 2025 Legal and administrative information Registered Office: Sunley House14th Floor) Oxford Road Aylesbury Buckinghamshire HP19 8EZ Charity registration number- 1131949 Company reglstratlon number-06995233 Trustees: Michael Clare IPresidentl Robin Walker (Chairl Ana Marcela Heime Gavin Henshaw Arif Hussain Karen Irons Sarah Leslie IAppointed 26 January 20261 Clare Periton IResigned 11 December 20251 The Trustee5 have the powers and obligation5 of Directors as set out in the Companies Act 2006. Chlef Éxecutive Officer Martin Gallagher Auditor.. DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshlre HP19 80B Bankers: Coutts & Co 440 Strand London WC2R OQS
The Clare Foundation Limited A Company Limlted by Guarantee Financial statements for the year ended 31 December 2025 Contents Trustees, Annual Report Report of the Independent Auditor 8-12 Statement of Financial Actlvities 13 Balance Sheet 14 Principal Accountin8 Policie5 15-18 Notes to the Flnancial Statements 19-28
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 Trustees, Annual Report The Trustees present their annual report together with the audited financial statements of The Clare Foundation for the year ended 31 December 2025. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annu31 report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company'5 governing document and the provlsions of the Statement of Recommended Pradice ISORPI applicable to charities preparlng their accounts in accordance with the Financial Reportln8 Standard applicable In the UK and Republic of Ireland IFR51021 leffectNe l January 20191. Slnce the Charity qualifies as small Ltnder section 382 of the Companles Att 2W6, the Strategic rewrt required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors, Report) Regulations 2013 has been omitted. Oblectives and Actlvltles The objectNes of the charity as per its governlng document are.. To advance for the public benefit such charitable purposes as the directors shall from time to time determine and in particular but without limitation to the foregolng to advance the efficiency and effectNeness of tharities and not for profit organis3tlons and voluntary organisations by the provision of financial asslstance, support or advice or by such other means as the dior5 shall from tlme to time determine. 'not for profft organisatlons and voluntary organisations" are independent organisations which are established for purposes that add value to the community as a whole, or a significant 5ectioft of the communmy, and whith are not permitted by their constitution to make a profit for private distribution. 'not for proflt organisations and voluntary organisation5' do not Include lotal government or other statutory authorities. "charities" are orBanls8tions which are established for exclusively charitable purposes in accordance wlth the law of England and Wales. The Charity's purpose 15 to provide professional support, strategic leadership and networklng opportunitie5 to charities that seek to advance theirBovernance, business efficiency and efFectiveness. In addition, the Charity provides grant funding to support programme5, projerts, and core business development that promote growth, resilience, and long-temi sustainabilty within the voluntary and community settor. The Clare Foundatlon supports stakeholders, voluntary sector leaders, and vulnerable families addressing social inequalitie5 across Buckinghamshire and the surrounding areas. Through its activities, the Foundation seeks to encourage happiness. p051tivity, optimism, and self*steem, contributin8 to stronger, more resilient communities. In setting objectives and planning for actwities, the Trustees have given due consideration to Eeneral guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefrt.. running a charity IPB21'.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 Dember 2025 Trustees, Annual Report Achlwements and Performance Angels. Den Angels, Den remains one of The Clare Foundation'5 flagship initiatives and a cornerstone of its Strategic approach to collaboration and innovation within the charity Sector. Following the Board's approval in March 2023 of a pilot project and five-year development plan. Angels, Den has continued to grow in aMbItn, scale, and impart. In 2025. Angels. Den furtherconsolidated its reputation as a hlgh-quolity, high-impact philanthropic event, bringing together charities, philanthropists, business leaders, and sector partners from across BuckinghamshSre. Building on the success of previous years, Ihe progTamme continued to provide not only grant fundin& but also mentorship, profile-raising opportunltles, and acce5S to influential network5. The most recent Angels, Den event demonstrated clear progress in the quality of charV pltches, the confidence of participating organlsation5, and the strength of relationships formed as a result of the programme. Feedback from both Angels and charities highlighted the value of the developmental support and the longer-term benefits beyond the immediate funding awarded. The Board has reaffimed its long-term commitment to Angels, Den, wlth the nexi maior event scheduled for September 2026. Over the coming years, An8e15' Den will continue to evolve to provide increased fundin& deeper mentoring relationships, and expanded networklng OPPOrtunitie5, enabling local charities to delwei sustainable and lasting impact. Grant Maklng and Funding Impact During 2025, The Clare Foundatlon's wider grant programme distributed over £300,OCX) to more than 95 local charities, supporting a broad range of activities across Buckinghamshire. Funding continued to be targeted towards areas of greatest need, with approximately 33% allocated to health and wellbeinE initiatives an(122% supporting children and young people. These grants enabled charfties to stabilise operations, pilot innovative approaches, and expand the reach of vital services, relnforcing the Foundation's role as a trusted and responsive funder. Famlly Angels Pro8ramme The Famity Angels programme, launched in 2022, contlnues to play a vital role In supporting vulnerable families experiencing finar+cial hardship. In 2025, the programme was suctessfully dellvered through a dedicated network of approximately 40 Community Advocates. Through Family Angels, £81,(KJO of targeted grant support was distrSbuted, a55i5tinE over 120 families across Buckinghamshire and surrounding areas. Support provided through the programme helped families rneet essential living costs and address immediate pressures, while also offering dignity, rea55urance, and connection to wider support networks.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 Trustees, Annual Report Workshops. Semlnars, and Seclor Support In 2025, The aare Foundation delivered a comprehensive pro8ramme of workshops, seminars, and forums designed to strengthen leadershipi Bovernance, and operational effectiveness within the charity sector. These sessions, delNered both in-person and online, provided charity leaders, trustees, and staff with practical tools. shared learnin& and acce55 to expert insight. Key theme5 included leadership and governance, digital and organisational development, collaboration, and sustainability. Feedback from participants con51Stently highlighted the ouallty, relevance, and accessibllity of these events, and the value of creating safe spates for peer learning and discussion. Governance and Perforniance Managernent The Clare Foundatlon remains committed to strong governance and accountability. During 2025, the Board of Trustees, working closely with the CEO, continued to oversee a robust framework of Key Performance Indicators IKPlsl to measure impact, performance, and strategic progress. KPIS are vieWed quarterly at Board meetings, enabling Trustees to monitor outcomes, assess risks, and ensure the Charity remains aligned with its strategic oblettlves. Overall, the achievements of 2025 have reinforced The Clare Foundation's role as a catalyst for positive change wlthin the voluntary and communlty sector. Through innovation, partnership, and targeied financial support, the Foundation continues to empower charities and communities to thrwe. Key Perfomiance Indlcator5 During the year. the Charity's performance against its KPIS focused on: Development of Charlty Services and Activities Encouraging happiness, positivitV* Optimism, and self-esteem across Buckin8hamshire and surroundin8 areas. Raising the profile of the Charlty through tollaborative partnerships with charitable and not-for- profit or8anlsation5. Providin8 seed funding and grants to SLSPPOrt Innovative programme5 and projects. Supportlng tharities to become more effettive, 5111ent, and efficient. Facilitating closer collaboration and parlnership working across the sector. DelThierin8 high-quallty pro bono seminar5, workshop5. and forums for charity leaders, Staff, and trustees. Developin8 bespoke services to address specific organisational challenges. Supporting charities to improve business efficiency and effertiveness through tailored advice and support.
The Clare Foundation Limited A Company Ilmited by Guarantee Flnancial statements for the year ended 31 December 2025 Trustees, Annual Report Plans for Future Perfods Building on pro8S5 made during 2025, The Clare Foundation contlnue5 to deliver Its strategic roadmap to strenohen cohesion, collaboration, an(1 leadership across the charity Sector. The Board has allocated £560,1)CO to deliver key Initiatives across Buckin8hamshire. including high-impact roundtables, CEO and leadership forums, and specialist workshops and seminars. Malor planned events for 2026 include Angels, Den, a Late Summersoiree, and further leadership and governance pro8rammes. Through stmng operatlonal capatity, CHAT support servitss, and strategic partnerships, the Foundation remains agile and responsNe to emerging need5. Its leadership role WTthin the Buckinghamshire Council VCS Partnership Board and the Strategic Funder5 Group ensures a strong understanding of sector challenges and opportunltles, supporting equitable and effective funding decisions. (the xt 2. 5 years. the Chadty alms to." Provide small to medium-5ized grants and seed funding to enable charities to deliver impactful programmes. Deploy bespoke support, expertise, and funding to strengthen charities locally and beyond. Collaborate with key stakeholders to enhance wellbeing and happiness across the region. Offer specialist Sl8nptsstin& triage, and leadership guidance to charities. Facilitate seminars. workshops, and leadership networking opportunities. Strengthen cross-5ector collaboration an(1 partnership models. Expand specialist 5UPPOrt and intervention serwices for charities in need. Bulld sustalnable relatlonships with key stakeholders to develop new inlativeS and search. Grow tts pro knno network. leveraging professlonal skills to 5UPPOrt charlties in achieving their missions. Flnancial Revlew Details of income and expenditure are available in the Statement of Financial Activities on page 13 and the notes following. Management of the Charlws investment portfolio is delegated to Cazenove Capital. As at 31 December 2025, the investment portfolio was valued at £4,766k12024-. £4,951kl. The investmenls include net gains of approximately £226k12024.' net 8alns of £127kl. There are no materlal uncertainties about the Charlty's ability to continue as a 80ing concern. ReseNes Policy The Trustees consider that the level of Unrestricted Reserves should be sufficient to cover the Charity's budgeted annual operatlng expenditure of £720k12024 - £770kl. The balance of the reserves represents
The Clare Foundation Limited A Company Limited by Guarantee Financial staternents for the year ended 31 December 2025 Trustees, Annual Report investments held in accordance with the wishes of the Trustees to create both long-term capital growth and annual income to contribute towards the Charity's annual expenditure. The free Unrestricted ReseNes of the Charity at the year-end are £4,786k12024- £4,978kl. Reserves are an inherent part of the risk management process. ReseNe thresholds are assessed a5 part of the strate8ic planning process. Investment Policy The Charity's investment portft)lio is managed by Cazenove Capital. The investment objective being to prudently invest in a range of fixed interest securlties in the short term, and UK and overseas equities an otherinvestment classes in the medium term. The Investment Committee review the performance ofthe portfolio with Cazenove Capital on a quarteily basls. Risk Statement The Trustees have assessed the risks to which the Charity is exposed to as.. Failure to manage the key assets effertively. The Trustees mitigate this risk by setting up an Investment Committee to review the management of the investment portfolio by our professional advisors Cazenove Capital. The Investment Committee has requested Cazenove Capital to provide regular ypdates, and these are reviewed at quarterly Trustee meetings. Failure to identify future risks to the Charity. The Trustees continue to evaluate and re-asse55 the risk profile of the Charity following the implementation of the strategic direction of the Charity. Systems and procedures have been developed to mitigate future risks. The register as a whole is reviewed for completeness on an annual basis. Related Parties A register of related party interests is maintained for all Trustees. Structufe, Governanre and fvlanagement The Clare Foundation is a charitable Company Limited by Guarantee set up on 19 August 2(K)9. It is governed by its Memorandum ar)d Articles of Association. The Clare Foundation was granted charitable status on l October 2009 by the Charity Commission. At inception. there were three Trustees registered. Over the years, other Trustees have been appointed to monitor. evaluate and strengthen the Board and
The Clare Foundation Limited A Company Llmlted by Guarantee Financial statement5 for the year ended 31 December 2025 Trustees, Annual Report to bring specialist expertise and experience of the sector. There We seven Tntrstee5 serving as at 31 December 2025. The Trustees, who are the Dlrectors of the company, who have served during the period are listed below.. Michael Clare (Presidentl Robin Walker (Chairl Ana Martèla Heime Gavin Hen5haw Arif Hussain Karen Irons Sarah Leslie (Appointed 26 january 20261 Clare Periton (Resigned 11 December 20251 The Board is a dfverse Broup ol Individua15 Wlth a mlxof skills, age and experience to furtherthe charitable purpose of the Charity. The Trustees each recognise the significance thatthey shall be well prepared and experlencedto dSscharge their role and (lutles effectively. The Trusteès have varying levels of expertise and experience of fulfilling the role of Trustee. Appointment of Trustee5 The Charoty may by ordlnary resolution appoint a person who is willing to act to be a Trustee and determine the rotation in which any additional Tru5tee5 are to retire. In selecting new Trustees, the Board review the mlx of skills, age and experience and appoint accordin81y. Retirement of Trustees At each Annual General meeting one-thlrd of the Trustees must retire from offlce. Organlsational Structure The Board of Trustees normally meet on a quarterfy basi5 and have appointed a Flnance Sub-committee which is responsible for developing the strategic direction and monltoring of the operational and financial performance of th@ Charity. The Finance Sub-committee and Charlty Services Sub-cornrnittee report to the Board on a quarterly basis. The Chief Executlve Officer 55 responsible for the day-to-day operation of the Charity under the delegated authority of the Finance Sub-committee and Charity Services Sub- Committee. The Chief Executive Offiterfs salary Is set by the Trustee Board upon the recommendation of the Finance SulTrCommittee, and it is benchmarked agalnst slmllaT Posltions. Statement of Trustees, re5ponsibilitie5 The Trustees (who a also directors of The Clare Foundation Limited for the purposes of the Companies Act 20061 are responsible for preparlng the Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (Finantial Reporting Standard 1021.
The Clare Foundation Lirnited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 Trustees, Annual Report Company law requires the Trustees to prepare flnancial statements for each financial year. Under that Saw, the Trustees have elected to prepare the financial statements in accordance with Unite¢J Kingdom Generally Accepted Accountin8 Practice Iunited Kingdom Accounting Standards and applicable lawl. Under company law, the Trustee5 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 Chaflty and of the incoming resources and application of resources. including the income and expenditure, of the Charityforthat period. In preparing these financial statements, the Trustees are required to: Select suitable accountlng policies and then apply them consistentlv; Observe the methods and principles in the Charities SORP IFRS 1021: Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed. subject to any material departure5 disclosed and explained in the financial statements; and Prepare the financial statements on the going toncem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficiellt to show and explain the Charitvs transactions and 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 Companies Act 2006. 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. In so for as the Trustees are aware.. There is no relevant audit information of which the Charity's audEtor is unaware. and Each Trustee has taken all steps that shelhe ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that Information, Auditors TheTrustees recommend that Dux Advisory Llmited should be appointed as audltors to the company. and they have expressed their willingness to be appolnted. ON BEHALF OF THE BOARD OF Robln Walker Chalr Date: 18 June 2026
The Clare Foundatlon Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 Report of the Independent Auditor to the Members of The Clare Foundation Opinl¢)n We have audited the financial statements of The Clare Foundation for the year ended 31 December 2025 which comprise Statement of Financial Activities, Balance Sheet and notes to the financial statements, Including signtficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law ané United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reportln8 Standard applicable in the UK and Republic of Ireland (United Klngdom Generally Accepted Accounting Practicel. In our opinion the financial statements.. give a true and fair view of the charf(•ble companvs state of affairs as at 31 December 2025 and of its incoming resources and applicatlon of resources, including Its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the Companles Act 2006. Basi$ for opinion We conducteil our audit in accordance wlth International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further destribed in the Auditorfs responsibilities for the audit of the financial statements section of our Teport. We are indepen(lent of the charitable company 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 sufficlent and appropriate to provide a basis for our opinion. Conclusions relating to going contem In auditing the financial statements, we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identrfied any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charlt8ble company's abllity 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 responsibilttie5 of the trustees with respect to going concern are described In the relevant sections of this report.
The Clore FoLFndation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 Report of the Independent Auditor to the Members of The Clare Foundation Other information The trustees are responsible for the other information. The other information comprlses the Informatlon Included In the annual report, other than the financial Statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otheise explicitly stated in our report. we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing 50, consider whether the other infom)ation is materially inconsistent wf(h the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a materlal misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other informatlon we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit: the information glven in the Trustees, Annual Report which includes the DIrt0[5, Report for the financial year for which the financial statements are prepared Is consistent with the financial statements. and the Trustees. Annual Report which includes the Directors, Report has been prepared in accordance with appllcable legal requirements. Matter5 on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Cornpanles Act 2(N)6 requlres us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by u5: or the financial statements are not in agreement with the atcounting records and returns: or certaln disclosu$ of trustees, remuneration specified by law are not made,. or we have not teWed all the information and explanations we require for our audit.
io The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 310ecember 2025 Report of the Independent Auditor to the Members of The Clare Foundation Responslbllitles of trustees As explained more fully in the Trustees, Responsibilities Statement set out on page 2, the trustees Iwho are also directors of the charitable company for the purposes of tompany lawl are responslble 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 trustee5 detemiine is necessary to enable the preparation of financSal statements that are free from material misstatement, whether due to fraud or error. In preparin8 the financial stalements, Ihe trustees a responsible for asse55ing the charitable companrfs ability to continue as a going concern, disclosin& as applicable, matters related to going concern and LTrsing the golng concern basls of accounting unless the trnstees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditors under the Companies Act 2CK16 and report in accordance with regulations made under that Act. our objectlves are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditorfs report that includes our opinion. Reasonable assvrance is a high l@vel of a55urance, but is not a guarantee that an audit conducted In accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are cohsidered material if, individually or in the aggregate, they could reasonably be expecte(I to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instan$ of non-eomplSance with laws and regulations. We desi8n procedure5 in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specifi'c procedures for thi5 engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below. Identifying and assessing risks related to irregulartties- We assessed the susceptibility of the charitable compan(s financial statements to material misstatement and how fraLbd might occur. includin8 through discussions with the trustees, discussions within our audit team planning meetin& updatin8 our record of internal controls and en5urin8 these controls operated as intended. We evaluated possible incentives and opportunities forfraudulent manipulation of the financial statements. We identrfied laws and gUlationS that are of 5ignificar)ce in the context of the charitable company by discussions with management and updating our understandin8 of the sertor in whlch the chbritable company operates. Law5 and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commlsslon for England and Wales.
li The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 310ecember 2025 Report of the Independent Auditor to the Members of The Clare Foundation Audit response to risks identified.. We consldered the extent of compliance with these laws and re8ulatKins 05 part of our audit procedure5 on the related financial statement items including a review of financial statement disclosures. We revlewed the charltable company's records of breache5 of laws and regulation5, minutes of meetings and correspondeTice wlth relevant authorities to identrfy potential material misstatement5 arislng. We discussed the charitable company's policies and procedures for compliance with laws and regulations with members of management responslble for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might invobje non-compliance with laws and regulations or fraud. We enquired of management whethef they were aware of any instances of non-complian with law5 and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the rlskof fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transartions that were unusual or outside the normal course of business. We assessed whether Judgements made in making accounting estimates gave rise to a po55ible indication of management bias. At the completlon stage of the audit, the engagement partnerfs review included ensurlng that the team had approached their workwith appropriate professional scepticism and thusthe ¢apatityto identify non- compliance wlth laws and regulations and fraud. There are Inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulations 15 from the events and transactions reflected in the financial statements, the less likety we would become aware of it. Also, the risk of not detecting a material mtsstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may Invofve deliberate cOnalMent by, for example, forgery or intentional mIspresentatIons, or through colluslon. A further descrlptlon of our responsibilitles is available on the Financial Reporting Council's website at: www.frc.or auditorsres nsibilities. This description fomis part of our auditor's report
12 The Clare Foundation Limited A Company Limited by Guarantee Financial statement5 for the year ended 31 December 2025 Report of the Independent Auditor to the Members of The Clare Foundation Use of our report Thi5 report is made solety to the charitable company's member5, as a body, in accordance wrÉh Chapter 3 of Part 16 of the Companies Att 2006. Our audit work has been undertaken so that we mi8ht state to the charitable companls members those matters we are required to state to them In an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other than the charitable company and the charitable companws members as a body, for our audit work, for this rew)rt, or for the opinions we have formed. Bianca Permal (Statutory Auditor) For and on behalf of DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Ayle5bury Buckinghamshire HP19 8DB Statutory Auditors Date. DUX Advisory Limited is ellglble to art as an auditor in terms of section 1212 of the Companies Act 2006
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 14 Balance Sheet 2025 2025 2024 2024 Note Flxed assets Tangible assets Investments li 12 3,510 4,951,364 4,954,874 4,766.054 4,771,500 Current a55ets Debtors Cash at bank and in hand 13 8,787 54.323 63,110 4,403 59,483 63,886 Creditors- amounts falllng due withln one year 15 129,7121 133,8521 Net current assets 33,398 30,034 Net Assets 4,804,898 4.984,908 FUNJS Unrestricted funds Restricted funds 18119 18120 4,786,136 18,762 4,977,799 7.109 4,804.898 4.984,908 These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 ofthe Companies Act 2006. The accompanying accounting policies and notes form an integral part of these financial statements. The financial statements were approved by the Trustees on 18 June 2026, and were signed on behalf of the board by: Robin Walker Chalr Charity registration number- 1131949 Company registration number- 06995233
The Clare Foundation Limited A Company Limited by Guarantee Financlal stètements for the year ended 31 December 2025 Is Principal Accounting Policies Company infomiatlon The Clare Foundatlon Llmlted is a private Company Llmlted by Guarantee incorporated in England and Wales. The re8lStered office is at Sunley House14 Floor), Oxforil Road, Aylesbury, Buckinghamshire, HP198EZ. Basls of Preparation The financial statements have been prepared under the historical cost convention and in ateordance with the recommendations in the Statement of Recommended Prartice: Accounting by Charities (the SORP IFRS 10211 issued in 2019, the Companies Act 2006 and applicable Accounting Standards (Financlal Reporting Standard 1021. The disclosure requirements of Financial Reporting Standard 102 IFRS 1021 have been applied other than where additional disclosure 15 required to show a true and fair view. The Clare Foundation meets the definition of a public beneflt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othetwise stated in the relevant accounting policy note. The financial statement5 are prepared in sterlin& which is the functSonal currency of the Charity. Mor)etary amounts in these finantial statements are rounded to the nearest £. There are no material uncertainties about the CharIt$ ablllty to continue as a Eoing concern. The principal accounting policies are set out below and remaln unchanged from the prevlous period. Income Donations All monetary donations and legacies are included in full in the statement of financial activities when reteivable, provided there are no donor-impose(I restrictions as to the timing of the lated expendlture, in which case recognltion is deferred until the pre-condition has been met. Voluntary help is not included in income. in monetary tem)s. Investment income Investment income, including associated tax recoveries, is recognised when receivable. Income from donated ser¥i¢es Income from donated s@Nices is recognised when the charity becomes entitled to the service and service has been received and can be reliably measured.
The Clarè Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 Dernber 2025 16 Principal Accounting Policies Expenditure Expenditure, which 15 charged on an accruals basis, is allocated between.. Expenditure incurred dirertly to the fulfilment of the Charity's objectives IcharFtable activities): and Expenditure incurred directly in the effort to raise voluntary contributions Iraising funds1. Items of expenditure involving more than one cost category are apportioned on the basis of the estimated costs relating to each category as appropriate. Note 8 details the basis of apportioning costs. In summary: Governance costs are costs associated with the governance arrangements of the Charity which relate to the general running of the Charity as opposed to those costs associated wkth fundralsing or charitable attivity. Governance costs include external audit, legal and professional fees, remuneration to Trustees and tosts associated with constitutional and statutory requirements. Thls category also includes any costs associated with ihe strategic management of the Charity's activities. Office costs and employment costs are apportioned based on staff time analysis. Grants payable are grants payable to third parties in furtherance of the charitable objectives of the Charity. Grants are accounted for when either the recipient has a reasonable expectatlon that tY wlll receNe a 8rant, or the trustees have agreed to pay the grant without condition. Provisions for grants are made when the intention to make a grant has been communicated to the reciplent but there is uncertainty about eitherthetiming of the grant orthe amount of grant payable. Assets Assets are wognised v4hen there is a legal and constructive right to the asset. Liabilities Liabilities are recognised when there is a legal and constructlve obligation committing the Charity lo the expenditure. Corporatlon Tax and VAT The Charty has charitable status and is exempt from corporation tax on the Income it has recelved and applied for charitable purposes. The Charity 15 registered for VAT. Fund Accounting Restrirted funds aye to be used for Specified purposes laid down by the donor. Expenditure for those purposes is chatEed to the fund, together with a falr allocation of overheads and support costs.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 17 Principal Accounting Policies Unrestrlcted funds are donations and other Incoming resources received or generated for expenditure on the general objectives of the Charity. Designated funds are unstriCted funds which have been deslgnated for specrfic purposes by the Trustees. Tangible Flxed Assets and Depreciation Tangible fixed assets are capitalised at cost where their acquisltion value is greater than £250 and are stated at cost net of depreciation. Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rales generally applicable are- Fiktures, fittings and kitchenloffice equipment Computer equipment and software over 5 years. on a straight-line bas1$ over 3 years, on a straight-line basis Leased Assets All leases are regarded as operating leases and the payments made under them are charged to the statement of financial artivities on a 5traight-line basls over the lease term. Llsted Investments Listed investments are valued at their market value In theSr native currency at the end of the financial year and are translated at the rate ruling at this date. Cash held as part of an investment portfollo, as a monetary asset, is translated using the closing rate method. Net gain5 and10sses arising on revaluations and disposals durlng the period are included in the SOFA. Realised gains and losses arise on the sale of investments ?nd represent the difference between the valuation at the beginning of the financial year and the proceeds from the sale of the investment. Unrealised gains and losse5 consist of the movement in the market value of investments on an annual basis. Retirement benefits The defined contribution scheme pension costs charged against the SOFA are the contrlbutlons payable to the scheme, in respect of the accounting period. Flnanclal instruments The charity only has financial assets and liabilitie5 of a kind that qualSfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 18 Principal Accounting Policies Cash and cash equivalents Cash and cash equivalents Include cash in hand, deposits held on call with the charity's banks and other funds are held by the charity's investment advisors which are invested in short-term deposits.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 19 Notes to the financial statements Critical a¢¢ounting judgements and key sour¢¢s of estimatlon uncertalnty In the application of the charitls accounting policies, the twstees a requlred to make judgements. estimates and assumptions about the tarrying amounts of assets and liabilities that are not readi apparent from other sources. The estimates arbd associated assumptions are based on historical experience and other factors that are considered to be relevant. Adual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are retognlsed In the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future perH)ds if the revision affects both current and future periods. In the View of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effett on the amount5 recogni5ed in the financial statements nor do any estimates or assumptions made carry a significant rlsk of material adjustment in the next financial year. Charitable actlvltles tncome Unrestrlcted Restricted funds funds 2025 Unrestricted Re5trirted Total funds funds 2024 Total Family Angels Angels Den Charity development progrdmmes 30,0(rfJ 62,500 30.CQO 62.500 30.000 52,5(KJ 30.000 52,500 12,337 12,337 Totsl 92,500 92.500 12,337 94.837 Total incomè No income was attributable to geographical markels outside the United Kingdom. Costs of raising funds Unrestrlcted Restrlcted funds funds 2025 2025 Restricted Basis of funds alloution Z024 Total 2025 Investment management costs 10,617 10,617 9,618 Direct Total 10,617 10,617 9,618
The Clare Foundation Limited A Company Limited by Guarantee Financiol statements for the year ended 31 December 2025 20 Notes to the financial statements Charitable activitles expenses Unrestrfcted Restricted funds funds 2025 LJnrestTirted Restrlrted Total lunds fund5 2024 Total Famlly Angels Angels Den Granls15ee below) Charity development programmes 80,847 120,1)00 80,847 120.000 310,953 90,086 105,000 90,086 105,(K)O 320,399 310,953 320,399 176,558 176,558 227,705 227,705 Total 487,511 2CA).847 688.358 548.104 195.086 743.190 Actlvltles undertaken directlv Support costs (note 81 Total 2025 Family Angels supported 126 families Angels Den funded 12 charities Grants Isee note 61 Charity development programmes 80,847 120.0 232,333 81,045 80.847 120,OLKJ 310,953 176,558 78,620 95513 Total 2025 514,225 174,133 688,358 Activitie5 undertaken dirertly Support costs (note 81 Total 2024 FamSly Angels supported 126 families Angels Den funded 10 charities Grants Isee note 61 Charity development programmes 90,086 105,000 237,408 116,672 90,086 105,OCM) 320,399 227,705 82,991 111,033 Total 2024 549,166 194,024 743,190
The Clare Foundation Limtted A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 21 Notes to the financial statements Grants 2025 2024 Grants to institutlons by project: Children activities Comrnunity partnerships Charity infrastnjcture Financial insecuritv Food Foverty Health and wellbeing Housing sUPPOrt Social tsolation 55,411 40.030 2,204 12,800 12,(M)O 63,250 24,145 33,600 22,385 5,000 12,000 81,868 10,000 48,410 43,638 232,333 237,408 2Q25 2024 Grant5 to institutlons: Grants greater than £5.000 Heart of Bucks Tall Ships Youth Trust Curzon Centre Beaconsfield Bucks Mind Southcourt Baptist Church - Bridge The Gap Bedgrove- Pump Trad( Focus Foundatlon Red Balloon st Thomas, awrch Hdty)ur Cancer Care & Haematology Queens Park Arts Centre Mind Over Mountains Klngs Church Amersham Oasis Partnership Age VK Bucks Wycombe Homeless Connection Peter Jones Foundation Bradbury House Creative Partnefshlps Beaconsfield Khepera 25 Grants of £2,OlXJ to £5.00012024: 181 Other Grants under £2,000 12,51XJ 12,000 12,000 io,o(MJ 10,000 iO,O(XJ 10,000 iO,O(K) 9,638 8,5 8,0(K) 7,DC4) 5,8CKI 19,500 16,000 io,ooo 27,000 18,000 16,000 10,000 10,000 7,000 5,346 70,179 28,383 78.657 28,238 232,333 237,408
The Clare Foundation Limlted A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 22 Notes to the financial statements Analysis otempendlture Cost5 of raising funds Charitable activitles 2025 Total 2024 Total Basis ol £ allocatlon Governance Marketing includin8 website Promotional projects Grants Family Angels Angels Den Event costs Cost of seminars Employment costs Buildlng costs Office costs Travel costs IT expenses Depreciation Audit & accountancy Legal & professional Bank charges 2.293 2.060 232,333 80.847 12Q,000 20,653 4,874 184,317 zi,oii 4,677 2.203 2,293 1,930 Direct. 2.060 1,554 Dlrect. 232,333 237,408 Direct. 80,847 90,086 Dlrect. 120,000 105,000 Direct. 20,653 16.341 Direct. 4,874 19,517 Dirert. 184,317 218,002 Staffing 21.011 21,788 Direct. 4,677 6,562 Staffing 2,203 2,978 Staffing 4.044 5,891 Staffing 1,299 1,728 Direct. 8,190 Governance 8,892 15,801 Dirett 32 32 Dire 1,299 (1,725) 32 10,617 678,918 10,617 698.975 752,808 Total expenditure includes: 2025 2024 Audttor5 remuneration: Audit services Depreciation: Tangible fixed assets 9,440 8,190 1,299 1,728 Costs that are allocated on a "Direct" basis are charged directly to the project or programme to whlch they relate,. no apportionment of those costs is required. Analysis of sUPPOrt ¢osrs Admln & Information Flnance Technology Total 2025 Governance Grants Charity development programmes 78,620 82,029 78,620 95.513 Total 2025 9,440 160,649 174,133
The Clare Foundation Limited A Company Llmlted by Guarantee Financial statements for the year ended 31 December 2025 23 Notes to the financial statements Admin & Information Flnance Technology Total 2024 Governance Grants Charity development programmes 82,991 96,952 82.991 111,033 8,190 5,891 Total 2024 8.190 179,943 5.891 194.024 Basls of allocation Dirert Direct Dirert Employees 2025 2024 Wage5 and 5alafies Social security costs Pension costs Group life assurance Staff training & re¢rtsitment 166,238 10,771 5,370 1.938 195,353 15,295 5.621 1,733 184,317 218,002 2025 Number 2024 Number Employee5 During the period l employee received emoluments In the band £IIyJ,LNJI- £IIO,(XJO12024: 1 employee in the band £IOO,001 £110,101. This individual was the onty employee to considered key management personnel. io Payments to Trustees and connected persons The Trustee5, who are also direclors of the Charity, are not entltled to receive any remuneration from the Chartty. Expenses were paid to Trustees Clare Periton £13012024.. £3811.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 202S 24 Notes to the financial statements li Tangible fixed as$ets Fixtures, Flttings & Office Equipment Computer Equlpment & Software Total Cost At l January 2025 Additions 6,013 4,458 3,235 11,3111 6,382 10,471 3.235 11,311) 12,395 At 31 December 2025 6,013 Depreciation At l January 2025 Charge for year 2,837 778 4.124 521 11,3111 6,961 1,299 {1,3111 6.949 At 31 December 2025 3,616 Net book value At l January 2025 At 31 December 2025 3,176 2,398 334 3,510 12 Investment assets All investment assets are held primarily to provide an investment return. 2025 2024 Quoted investment funds Cash 4.722.101 43,953 4.937,588 13,776 4,766,054 4,951,364 Market value at l January 2025 4,951,364 5.207,112 Disposal proceeds Interest received Unrealised Investment gains (610,6941 199.554 225,830 1609,0401 226,691 126,601 Market value at 31 Detember 2025 4,766,054 4,951,364 Historic cost of investments as at 31 December 2025 4,248,682 4,690,000
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 25 Notes to the financial statements Quoted Investme funds were invested In the followlng categorles: 2025 2024 Bond5 LiqL4Sdrty funds Private equity Property Eouities 331,126 1.395.348 338.177 110.084 2,591,318 340,245 1,793,514 278,270 121,658 2,417,677 Total 4,766,054 4,951,364 All Investments are held within the UK and at 31 December 202S investment holdlngs in excess of 5% of the total portfollo were as follows: 2025 72.9% 13.1% 13.1% 2024 65.6% 17.1% 17.1% Cazenove Sustainablè Multi-Asset Fund JPMor8an GBP Liquidity Fund HSBC Sterllng ESG Liquidity Fund 13 Debtors 2025 2024 Other debtors Prepayments 21 8,587 2) 4,203 8,787 4,403 15 Creditors: amounts falling due wlthln one year 2025 2024 Trade creditors Accwa15 Social 5ecurSty and other taxes Other creditors 8,277 14.367 5,464 755 26,683 4.792 1,622 29,712 33,852 16 Flnandal Instruménts The carrying amount of financial assets whith are debt Instwments at amortlsed costls £nil12024.. £ nill. The carrying amount of financial liabilities which 15 measured at amortised cost 15 £nil12024- £ nill. 17 Operating lease ¢ommltments Minimum lease payment5 fall due as follows: 2025 2024 Other operating leases Due in l year Due between 2 to 5 years 15,379 3,861 15,405 23,561
The Clare Foundation Limited A Company Limited by Guarantee Financial statement5 for the year ended 31 December 2025 26 Notes to the financial statements 18 Fund movements summary Unrestrlrted funds Inote 191 Restricted funds (note 201 Total funds At l January 2025 4,977,799 7,109 4,984,908 Incoming resources Empenditure Transfer from general fund Gain on Investments 200,635 1498,1281 1120,0001 225,830 92,500 12C(>,8471 120,000 293,135 1698,9751 225,830 At 31 December2025 4,786,136 18,762 4,804,898 Unrestricted funds Inote 191 Restrlrted funds (note 201 Total funds At l January 2024 5,275,856 10,680 5,286,536 Incoming resource5 Expenditu Transfer from 8eneral fund Loss on investments 242,079 1557.7221 1109,0151 126,601 82,500 1195,0861 109,015 324,579 1752.8081 126,601 At 31 December 2024 4.977,799 7,109 4.984,908 19 Unrestricted funds Gener•1 undeslgnated funds Unreali5ed revaluation Total unrestricted funds reser¥e At l January 2025 Incoming SoUrceS Expenditure Transfer from general fund Gain on investments 4,730,211 2,635 1498,1281 1120,oc(II 247,588 4,977.799 200,635 1498,1281 illo.0001 225,830 225.830 At31 December 2025 4,312,718 473.418 4,786.136
The Clare Foundation Limited A Company Limited by Guarantee Finaricial statements for the year ended 31 December 2025 27 Notes to the financial statements Gener•1 undesiznated lunds Unrealised revaluation T¢tal unrestricted funds reserve At l January 2024 Incoming resources Expenditure Transfer from general fund Los5 on investments investment 5,154,869 242,079 1557,7221 1109,0151 120,987 5,275,856 242,079 1557.7221 1109.0151 126.601 126,601 At 31 December 2024 4,730,211 247.588 4,977.799 20 Restrlcted funds Balance at l January 2025 Transfer from Gener•1 funds 8alan¢e at 31 December 2025 Incomlng Outgoing Angels Den Family Angels 62,5(X) 30,000 60,000 60,000 1120,WOI 180,847} 2,500 16,262 7,109 7,109 92,500 120.(M)O {200,847 18,762 Balance at l January 2024 Transfer from General funds Balance at 31 December 2024 In¢omlng Out8oin8 Angels Den Family Angels 2,5CM) 8.180 52,500 30,000 50,COO 59.015 1105,(KJOI 190,0861 7,109 10.680 82.500 109,015 1195,0861 7,109 Angels Den A new innovative programme of grant maklng for Buckin8hamshire charitie5. The benefiting charities working together to highlight aa$ of unmet need, catIng new projects and programs, networkin& and upskilling their experience. Family An8els To help vulnerable families in and around Buckinghamshire who are nol in receipt of support from other networks.
The Clare Foundation Limited A Company Limited by Guarantee Financial statements for the year ended 31 December 2025 28 Notes to the financial statements 21 Analysis of net assets between fund$ Unrestrlrted fund Restrirted fund Totsl 2024 Tanglble fixed assets Investments Current assets Current liabilitie5 5,446 4.766.054 63,110 129,7121 3,510 4,951,364 63,886 133,8521 4,766.054 44.348 129,712) 18,762 4,786,136 18,762 4,804,898 4,984.908 Contingent liabilities There were no contingent liabilities as at 31 December 202512024.. £Nill. Rel•ted party transactions During the year, The aare Family Trust, of whlch Michael Clare is princlpal, has provided a grant to the Charity for the Family Angels r8stricted fund totalling £30,00012024'. £30,000) also Angels Den restricted fund totalling £10,000 12024- £10,IXIOI. The Clare Family Trust ha5 provided services of £Nil 12024- £14,711).