**REGISTERED CHARITY NUMBER: 1134766** ## **The Green Room Charitable Trust** **Report of the Trustees and** **Financial Statements for the Year Ended 1st October 2025** Barnes Noble Ltd Chartered Accountant & Registered Auditor Unitec House 2 Albert Place London N3 1QB **The Green Room Charitable Trust** ## **Contents of the Financial Statements for the Year Ended 1st October 2025** ||**Page**| |---|---| |**Report of the trustees**|1 to 4| |**Report of the independent auditors**|5 to 7| |**Statement of financial activities**|8| |**Statement of financial position**|9| |**Statement of cash flows**|10| |**Notes to the financial statements**|11 to 17| |**Detailed statement of financial activities**|18| **The Green Room Charitable Trust** ## **Report of the Trustees for the Year Ended 1st October 2025** The trustees present the annual report together with the financial statements of the charity for the year ended 1 October 2025. ## **Objectives and activities** ## **Objectives and aims** The objects of the Trust are to support such exclusively charitable purposes as the Trustees may from time to time in their absolute discretion decide. The Trustees consider making grants to registered UK and international charities, specifically focusing on the following areas: 1. poverty, human rights, social enterprises 2. ethical and social impact investments ## **Public benefit** The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Achievements and performance** ## **Charitable activities** During the year, no charitable grants were raised (2024: £1,376,977) through donations of which it was successfully able to donate £1,450,672 (2024: £1,000,056). The total unrestricted reserves of the charity at 1st October 2025 are £6,268,162 (2024: £8,776,597) which represent 100% of the assets. The Trustees have assessed the Charity's need for reserves and consider the present level appropriate in relation to liabilities and future service. ## **Financial review** ## **Policy on reserves** Reserves are held in an instant access bank account. The Charity ensures that they have sufficient funds available to enable it to continue, to operate for at least a period of 3 months. Page 1 **The Green Room Charitable Trust** ## **Report of the Trustees for the Year Ended 1st October 2025** ## **Financial review** ## **Investment policy and objectives** ## 1. Introduction 1.1 The Green Room Charitable Trust is an unincorporated charity established by Trust Deed, which has general charitable aims. 1.2 The Trust has assets which are expected to accumulate to a total value around £10M through a combination of direct donations, investment returns and accrued interest. Assets are thereafter expected to decline steadily as annual grant making increases and exceeds annual income. 1.3 The trustees are governed by the Trust deed established in 2009 which sets out the general power of investment. ## 2. Investment Objectives 2.1 The Trust seeks to make investments which promise to have a demonstrable positive social or environmental impact along with an expected positive financial return. 2.2 The Trust's investment objective is to for capital growth in excess of inflation (RPI). 2.3 On occasions where potential social or environmental impact is deemed significant, an expected return below RPI (but still expected to preserve capital) on a single investment will be considered. ## 3. Risk 3.1 The Trust invests to mitigate long term inflation risk. Capital and income volatility can be tolerated if consistent with expectations. 3.2 The Trust's assets are diversified through investment in multiple funds, term deposits and bonds. ## 4. Liquidity Requirements 4.1 The Trust will tolerate reduced liquidity over several years on fund investments where the potential positive social or environmental impact, or investment return is deemed significant. ## 5. Time Horizon 5.1 The Trust can adopt a long term investment time horizon. ## 6. Management, Reporting and Monitoring 6.1 The Trust's asset value and income is monitored on an ongoing basis and recorded annually. 6.2 The trustees review the performance of individual investments against their initial targets on an ongoing basis. ## 7. Approval and Review This Investment Policy Statement was prepared to provide a framework for the management of the Green Room Charitable Trust's investment assets. It will be reviewed on an annual basis to ensure continuing appropriateness. ## **Plans for future periods** ## **Aims and key objectives for future periods** Charity plan on increasing the investments in Bridges Funds in line with the objectives of the trust. The money coming into the trust through payroll giving will decline going forwards and stop when the Trustee leaves his position at JP Morgan. At this stage the interest from the investments will be the main source of income for the grant making pool. Charity will maintain and increase slightly the level of grant making. ## **Structure, governance and management** ## **Nature of governing document** The charity is controlled by its governing document, a Trust deed dated 30 November 2009 and constitutes a unincorporated charity. ## **Recruitment and appointment of new trustees** There shall be at least three and no more than seven Trustees and whenever the number of trustees is reduced to less than three an appointment shall be made as soon as practicable in order to increase the number of trustees to at least three and in the meantime the remaining trustees may not exercise the powers given to them by the trust deed except so far as may be reasonable in order to preserve the Trust fund. The power of appointing new or additional trustees is vested in Tom Prickett. Should Tom Prickett die, a new or additional trustee shall be appointed by a resolution of the trustees which is recorded in the minutes and signed by the new trustee and such record shall be conclusive evidence of the appointment. Page 2 **The Green Room Charitable Trust** ## **Report of the Trustees for the Year Ended 1st October 2025** ## **Structure, governance and management Organisational structure** Tom Prickett manages the investments and Kelly Prickett is the key coordinator on the grant making and day to day running of the trust. ## **Induction and training of new trustees** A Trustee induction programme is being established and performance management policies and procedures will be reviewed to ensure the Charity can continue to grow, develop and respond to changing demands. ## **Relationships with related parties** The charity receives donations from Charities Trust which receives payroll giving of Tom Prickett, trustee. Donations are also received from Tom Prickett from his employer JP Morgan's payroll. ## **Reference and administrative details Registered Charity number** 1134766 **Principal address** Piccards Wood Sandy lane Guildford GU3 1HF **Trustees** T G Prickett Mrs K Prickett A H Ferry **Auditors** Barnes Noble Ltd Chartered Accountant & Registered Auditor Unitec House 2 Albert Place London N3 1QB Page 3 **The Green Room Charitable Trust** ## **Report of the Trustees for the Year Ended 1st October 2025** ## **Statement of trustees' responsibilities** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: **.** select suitable accounting policies and then apply them consistently; **.** observe the methods and principles in the Charities SORP; **.** make judgements and estimates that are reasonable and prudent; **.** state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and **.** prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................................. T G Prickett - Trustee Page 4 **Report of the Independent Auditors to the Trustees of The Green Room Charitable Trust** ## **Opinion** We have audited the financial statements of The Green Room Charitable Trust (the 'charity') for the year ended 1st October 2025 which comprise the Statement of financial activities, the Statement of financial position, 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 1st October 2025 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **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 trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Report of the independent auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires 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 us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. Page 5 **Report of the Independent Auditors to the Trustees of The Green Room Charitable Trust** ## **Responsibilities of trustees** As explained more fully in the Statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the 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. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the 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 a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Using our general commercial and sector experience and through discussions with the directors and management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either as a result of fraud or error. - We examined the company's regulatory and legal correspondence and discussed with the directors and management any known o suspected instances of fraud or non-compliance with laws and regulations. - We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. - In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 6 **Report of the Independent Auditors to the Trustees of The Green Room Charitable Trust** ## **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. For and on behalf of Barnes Noble Ltd Chartered Accountant & Registered Auditor Unitec House 2 Albert Place London N3 1QB Date: ............................................. Page 7 **The Green Room Charitable Trust** ## **Statement of Financial Activities for the Year Ended 1st October 2025** |**Notes**
**Income and endowments from**
Donations and legacies
3
Investment income
4
**Total**
**Expenditure on**
**Raising funds**
Other trading activities
**Charitable activities**
6
Governance Cost
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**1/10/25**
**Unrestricted**
**fund**
**£**
1
32,164
32,165
1,450,672
1,450,672
3,360
6,001
1,460,033
(1,080,567)
(2,508,435)
8,776,597
6,268,162|**1/10/24**
**Total**
**funds**
**£**
1,376,977
9,275| |---|---|---| |||1,386,252| |||1,000,056| |||1,000,056
4,777
152| |||1,004,985| |||(503,423)| |||(122,156)
8,898,753| |||8,776,597| The notes form part of these financial statements Page 8 **The Green Room Charitable Trust** ## **Statement of Financial Position 1st October 2025** |**Notes**
**Fixed assets**
Social investments
11
**Current assets**
Debtors
12
Cash at bank
**Creditors**
Amounts falling due within one year
13
**Net current assets**
**Total assets less current liabilities**
**NET ASSETS**
**Funds**
14
Unrestricted funds
**Total funds**|**1/10/25**
**Unrestricted**
**fund**
**£**
5,021,575
3,705
1,245,882
1,249,587
(3,000)
1,246,587
6,268,162
6,268,162|**1/10/24**
**Total**
**funds**
**£**
5,697,335
3,705
3,078,431| |---|---|---| |||3,082,136
(2,874| |||3,079,262| |||8,776,597| |||8,776,597| ||6,268,162
6,268,162|8,776,597| |||8,776,597| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. T G Prickett - Trustee The notes form part of these financial statements Page 9 **The Green Room Charitable Trust** ## **Statement of Cash Flows for the Year Ended 1st October 2025** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
17
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of social investments
Interest received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**1/10/25**
**£**
(1,459,906)
(1,459,906)
(404,806)
32,164
(372,642)
(1,832,548)
3,078,431
1,245,883|**1/10/24**
**£**
372,111
372,111
2,205,722
9,275
2,214,997
2,587,108
491,323
3,078,431| |---|---|---| The notes form part of these financial statements Page 10 **The Green Room Charitable Trust** **Notes to the Financial Statements for the Year Ended 1st October 2025** ## **1. Statement of compliance** The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. ## **2. Accounting policies** ## **Basis of preparation** The Green Room Charitable Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements are prepared in sterling which is also the functional currency of the company and rounded to the nearest pound. ## **Going concern** As part of the directors' assessment of going concern, they have prepared detailed cash flow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist. After making appropriate enquires, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. continued... Page 11 **The Green Room Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** ## **3. Donations and legacies** |Donations and Gifts
**4.**
**Investment income**
Deposit account interest|**2025**
**£**
1
**1/10/25**
**£**
32,164|**2024**
**£**
1,376,977
**1/10/24**
**£**
9,275| |---|---|---| ## **5. Raising funds Grant Making Analysis of grants** Below are details of materials grants made to institutions ## **Activity** |**Name of institution**|**2025**|**2024**| |---|---|---| ||**£**|**£**| |The Funding Network|26,500|14,000| |So Give CSER|-|55,220| |So Give Malaria Consortium|20,000|197,500| |So Give Givewell|110,000|197,500| |So Give|-|220,000| |Centre for Effective|-|80,000| |International RC Donation|50,000|40,000| |Habitat for humanity Great Britain|-|5,000| |Crisis UK|-|20,000| |University of cambridge CSER|80,000|75,000| |Council for strategic risk|-|30,836| |Unseen (UK)|5,000|5,000| |Medecins Sans Frontieres|-|60,000| |1 Day Sooner|57,001|-| |Malaria Foundation SoGive|20,000|-| |Amalgamated bank|101|-| |Busy Life PA|595|-| |Centre for Long term Resilience|75,000|-| |Charity Entrepreneurship So Give|10,000|-| |Clean Air Task Force|100,001|-| |Crisis Uk Tom Prickett|19,650|-| |DMI Network SoGive|19,899|-| |EVIDENCE ACTION INC|60,000|-| |Givewell Uk Donation to AGF|197,500|-| |Givewell UK for all grants fund|70,000|-| |Giving what we can Uk|120,000|-| |Horizon Institute of Public Service|75,122|-| |NPT Transatlantic Limited|2,000|-| |Openmined Foundation|50,101|-| |Players Philanthropy Fund DBA Health|10,000|-| |Rand Europe CIC Donation To TASP|50,000|-| continued... Page 12 |Securebio.INC
SMI Network SoGive
The Council on Strategic Risks
The Johns Hopkins University
University of Oxford Development Trust||142,000
101
100
60,001
20,000
1,450,672||-
-
-
-
-| |---|---|---|---|---| |||||1,000,056| ## **6. Charitable activities costs** ## Governance Cost **Support Costs (see note 7) £** 3,360 ## **7. Support costs** |Other resources expended
Governance Cost|**Other**
**£**
6,001
6,001|**Governance costs**
**£**

3,360
3,360|**Totals**
**£**
6,001
3,360| |---|---|---|---| ||||9,361| ## **8. Auditors' remuneration** Fees payable to the charity's auditors for the audit of the charity's financial statements |**1/10/25**|**1/10/24**| |---|---| |**£**|**£**| |3,360|4,777| ## **9. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 1st October 2025 nor for the year ended 1st October 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 1st October 2025 nor for the year ended 1st October 2024. continued... Page 12 **The Green Room Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** ## **10. Comparatives for the statement of financial activities** |**Comparatives for the statement of financial activities**|| |---|---| ||**Unrestricted**| ||**fund**| ||**£**| |**Income and endowments from**|| |Donations and legacies|1,376,977| |Investment income|9,275| |**Total**|1,386,252| |**Expenditure on**|| |**Raising funds**|| |Other trading activities|1,000,056| ||1,000,056| |**Charitable activities**|| |Governance Cost|4,777| |Other|152| |**Total**|1,004,985| |Net gains/(losses) on investments|(503,423)| |**NET INCOME/(EXPENDITURE)**|(122,156)| |**Reconciliation of funds**|| |Total funds brought forward|8,898,753| |**Total funds carried forward**|8,776,597| continued... Page 13 **The Green Room Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** ## **11. Social investments** |**Unlisted Investments**
Bridges Ventures Fund III LP
Bridges Sustainable GrowthFund IV
LP
Bridges Sustainable Growth IV(B)
Bridges Evergreen Capital LP
Bridges Property AlternativesFund III
Unit Trust
Bridges Property AlternativesFund IV
Unit Trust
Bridges Property AlternativeFund V
Bridges Property AlternativeFund VI
Global Health Investment Fund
**Total**|**Opening**
**balance**
134,611
944,412
511,778
1,124,858
389,628
950,147
1,476,752

165,149
**5,697,335**|**Additions/**
**(Redemption)**
(104,521)
43,737
67,298
533,405
(68,062)
(188,440)
(206,672)
355,024
(26,964)
**404,806**|**Realised**
**Gains/ (Loss)**
98,464
(500,005)
-
-
64
110,294
140,546
23,543
-
**(127,093)**|**Unrealised**
**Gains/(Loss)**
(124,653)
(23,589)
(267,653)
42,215
(61,800)
(179,518)
(164,164)
(140,788)
33,523
**(953,474)**|**Closing Balance**
3,901
464,555
311,423
1700,478
259,830
692,483
1,246,462
237,779
104,662| |---|---|---|---|---|---| ||||||**5,021,575**| Bridges Venture Fund III LP is a closed end private equity investment fund. The charity has committed a total capital of £400,000 towards this investment which provides funding capital to companies which focus on social benefit. The investment is stated at cost above as in the Trustees opinion this is the fair market value. The investments have a lock in period of at least five years following which they will provide an investment return to the charity. Bridges Property Alternatives Fund III is an investment in a Unit Trust. They invest in emerging and underserved locations, creating and generating workspace for SME's or providing healthcare facilities for the ill or elderly in underserved markets. The charity has committed a total capital of £800,000 towards this investment which provides funding capital to companies which focus on social benefit. The investment is stated at fair market value. Bridges Property Alternative Fund IV is a closed end private equity investment fund. The charity has committed a total of £1,200,000. The investment is stated at fair market value. Bridges Sustainable Growth Fund IV is a closed end private equity investment fund. The charity has committed a total of £2,000,000. The investment is stated at fair market value. Bridges Evergreen Capital LP is a closed end private equity investment fund. The charity has committed a total of £2,600,000. The investment is stated at fair market value. Global Health Investment Fund is also a close ended and unlisted social enterprise investment fund. The charity had made an initial capital commitment of $800,000 to this fund, but that has changed over the years via the activity in the capital call notices and estimated changes to the carrying value of the fund’s remaining investments. The investment is stated at fair market value. Bridges Sustainable Growth IV (B) is a closed end private equity investment fund. The charity has committed a total of £1,000,000. The investment is stated at fair market value. Bridges Property Alternative Fund V is a closed end private equity investment fund. The charity has committed a total of £2,000,000. The investment is stated at fair market value. Bridges Property Alternative Fund VI is a closed end private equity investment fund. The charity has committed a total of £1,000,000. The investment is stated at fair market value. continued... Page 14 **The Green Room Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** |**12.**
**Debtors: amounts falling due within one year**
Other debtors
**13.**
**Creditors: amounts falling due within one year**
Other creditors
**14.**
**Movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
32,165
**TOTAL FUNDS**
32,165
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At**
**2/10/24**
**£**
8,776,597
8,776,597
**Resources**
**expended**
**£**
(1,460,033)
(1,460,033)
**At**
**2/10/23**
**£**
8,898,753
8,898,753|**1/10/25**
**£**
3,705
**1/10/25**
**£**
3,000
**Net**
**movement**
**in funds**
**£**
(2,508,435)
(2,508,435)
**Gains and**
**losses**
**£**
(1,080,567)
(1,080,567)
**Net**
**movement**
**in funds**
**£**
(122,156)
(122,156)|**1/10/24**
**£**
3,705
**1/10/24**
**£**
2,874
**At**
**1/10/25**
**£**
6,268,162
6,268,162
**Movement**
**in funds**
**£**
(2,508,435)
(2,508,435)
**At**
**1/10/24**
**£**
8,776,597
8,776,597| |---|---|---|---| continued... Page 15 **The Green Room Charitable Trust** **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** ## **14. Movement in funds - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
1,386,252
1,386,252|**Resources**
**expended**
**£**
(1,004,985)
(1,004,985)|**Gains and**
**losses**
**£**
(503,423)
(503,423)|**Movement**
**in funds**
**£**
(122,156)
(122,156)| |---|---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At**
**2/10/23**
**£**
8,898,753
8,898,753|**Net**
**movement**
**in funds**
**£**
(2,630,591)
(2,630,591)|**At**
**1/10/25**
**£**
6,268,162
6,268,162| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
1,418,417
1,418,417|**Resources**
**expended**
**£**
(2,465,018)
(2,465,018)|**Gains and**
**losses**
**£**
(1,583,990)
(1,583,990)|**Movement**
**in funds**
**£**
(2,630,591)
(2,630,591)| |---|---|---|---|---| ## **15. Other financial commitments** The charity has following financial commitments |**Name of Investments**
Bridges Ventures Fund III LP
Bridges Property Alternatives Fund III Unit Trust
Bridges Property Alternatives Fund IV Unit Trust
Bridges Sustainable Growth Fund IV LP
Bridges Evergreen Capital LP
Bridges Sustainable Growth IV (B)
Bridges Property Alternative Fund V
Bridges Property Alternative Fund VI
Global Health Investment LP|**Amount**
**Committed**
£400,000
£800,000
£1,200,000
£2,000,000
£2,600,000
£1,000,000
£2,000,000
£1,000,000
£595,108|**Amount**
**Invested/**
**(Overdrawn) at**
**the year end**
(173,463)
29,945
344,580
761,450
988,717
727,033
1,255,911
330,936
(26,964)|**Amount to be**
**invested in**
**coming years**
573,463
770,055
855,420
1,238,550
1,611,283
272,967
744,089
669,064
622,072| |---|---|---|---| continued... Page 16 **The Green Room Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 1st October 2025** ## **16. Related party transactions** During the year, no donations were received from Charities Trust on behalf of Tom Prickett (a trustee) (2024: £1,376,977). ## **17. Reconciliation of net expenditure to net cash flow from operating activities** |**Reconciliation of net expenditure to net cash flow from operating activities**||| |---|---|---| |**Net expenditure for the reporting period (as per the Statement of financial**
**activities)**
**Adjustments for:**
Losses on investments
Interest received
Increase in creditors
**Net cash (used in)/provided by operations**|**1/10/25**
**£**
(2,508,435)
1,080,567
(32,164)
126
(1,459,906)|**1/10/24**
**£**
(122,156)
503,421
(9,275)
121| |||372,111| ## **18. Analysis of changes in net funds** |**Net cash**
Cash at bank
**Total**|**At 2/10/24**
**£**
3,078,431
3,078,431
3,078,431|**Cash flow**
**£**
(1,832,549)
(1,832,549)
(1,832,549)|**At 1/10/25**
**£**
1,245,882| |---|---|---|---| ||||1,245,882| ||||1,245,882| Page 17 **The Green Room Charitable Trust** ## **Detailed Statement of Financial Activities for the Year Ended 1st October 2025** |**Income and endowments**
**Donations and legacies**
Gifts
Donations
**Investment income**
Deposit account interest
**Total incoming resources**
**Expenditure**
**Other trading activities**
Grants payable - Instituions
**Support costs**
**Other**
Bank charges
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**Net Income/ (Expenditure)**|**1/10/25**
**Unrestricted**
**funds**
**£**
1
-
1
32,164
32,165
1,450,672
6,001
3,360
1,460,033
(1,427,868)
(127,093)
(1,554,961)|**1/10/24**
**Total**
**funds**
**£**
1
1,376,976| |---|---|---| |||1,376,977
9,275| |||1,386,252
1,000,056
152
4,777| |||1,004,985| |||381,267
201,157| |||582,424| This page does not form part of the statutory financial statements Page 18