Charity wegi5tFation number 1147602 (England and Wales) Company ￿gIStratIon number 07996550 THE JOHN STRUTT MEMORIAL FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 f? xeinadin THE JOHN STRUTh MEMORIAL FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru•t• Mr R F dtr Robee Mr P McComii¢k OBE K4r C MelcalfepGibson Mr E M F Pènrose Mr W T8ifeT-SmolMi MT R K Greaves Charlty numbor {Englaftd and Wal••l 1147602 Company numbor 07996550 R•gl•t•red offlc• John G Hllls The Estate Offlce Loybum North Yorkshlre DL8 SEW Audllor Xglnodln Audll Urnllad Trlnlty Hou8e Thur8ton Road North8llerton North Yorkghlre DL6 2NA Bank•r• Barclays B•nk PIC 31 Hlgh Row Dartlngion County Durh8m DL3 7QS 801Scltorn McC¢)Tmlck8 Flrnt Floor Scottsdale Hou88 Sprfngfield Av•nue Harrogato North York5hlre HG12HR THE JOHN STRU￿ MEMORIAL FOUNDATION coNTE￿rS Tn￿te￿ TeFMXt Statementofffinen¢ral ¥*¥iL*s 10-14 THE JOHN STRurr MEMORIAL FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Ifusto08 p￿￿nt IheSr 8nnual rem and nnJn¢1813talem￿ts for tho year ended 31 M8r¢h 202S. The finandyl Stst￿entS have been prepared In accordanu ¥Ath th8 accounting polides 881 tsjt In note 1 to the nancial $181oments and cornply vhth Ih? charftrfs mgmorandum and ar￿deS ol 8ssooaUon, th• Companles Act 2006 and 'Accountsng and Repor￿￿9 by Charilles.. Ststèment of Recomrnènded Pia¢ll¢* 8ppll¢ablo to ¢harftles preparlng their accounts in a¢eonJance wSlh the Finandal Repryung stafida￿ applicable kn the UK and Republlc of Ireland IFRS 1021. Ioffetho 1 January 20191. ObJ•ctlveJ and 8dlvltl•• The charitls oblectg ara to support reglstered In th• o¢hl•v•m•nt of th•lr charltablg Obj￿￿¥9$ vAlhln th? counties ol Cumbrla and Darbyshlre, th parU¢ular those charitlè$ or char41abl8 obJedves that hav? a connecuon wlth The John Slrutt con88rVoti￿ Foundauon. Th& John Strutt Chartly and The John Strutt C•ntr¥ for Parrot Con8ervat40n. In Order to meo1 Ivs ¢hJrftabte Ob￿cl￿e8 t￿ eharlty li InvOl￿d In ￿dfjn9 grants to Indivbjuals ènd oroanlBttU¢JnB. Long t•mi alm• •nd obl•ctSv•• Th& ch8rfV$ obleds ydflcally r••lrfrA•d lo th• followlng.. l. To bgngfil such other exclUs￿elY ch•rilabte obledv•8 and purposes wllhln Ihe counUe8 of Cumbrkn andl¢r D8rbyshlre, as th• ¢h•rhy m8y d•temln• from Um• to Ume, tn p8￿CUlar those charft•bl• oblod￿5 end purp0888 that hav& a rp)nne¢Alon wllh.. The John Strutt Conservallon Foundauon b. Th8 John Strutt Chortty.. 8nd c. Th• John Styutl Centro for Parrot ConservAUon; and 2. to wpporl regbtered ¢habllle6 In the othl¢vem8nt ol tholr chablt8bb obl•clbv•B wltNn th• county of Curnbwlo. In paru￿19r tho88 chorttles OT ch•rilable obl•ctlve8 Ilwl h8v• • connedon ￿th. Tho John Slnjtt ConsevvaUon Foundallon b. The John Slnjtt Charity.. and Th? John Strutt Centra for Pamjl Cons•￿•￿0n. Thèse alm8 and oblg¢tSves bnvofve Ihe consolldallon and ¢nh•nrAmant ol th• cha￿ty,8 ￿PItal v•lue ba￿, Involvlng th• rot¥nti¢n and on￿oIng imprmmont of ¢hArtty assets. Publ1¢ b•n•fit •tal•ffl•nt The Iru$lo85 have pald due regèrd to guldance Issued by th• Charity Comm15skn In deddlng wh41 acdvlll88 the tharity $htyJld undertake. Achlev•monts and p•rforniance The trustees r¢¢ognl$& the Strult famlly were key b8nefaclor8 In th• buSldlng of the town of 8elpw In 8C Derbyshire. Work commenced on Ihe to%￿ al lhe Start ol the ¢otton IndLtstry with Jedediah Strutt11726- 17971 ornmeneèd puithaslng land In 1777 in Ihe vldnlty of th• Ri￿r D•rwent to bvild hiB first Cotton Mlll al Belper. vthich w•$ 8 h8mlet of IramewoTk knl¢¢ers and nail-makers And Ihls led to lh8 bulldlThJ of mlll workers hous&s whlch fom$ #n Impotrtsnt port of hlslory of the tovm of Belper. Tha ￿nefitS conveyed by this perfoTman¢e. ¥r• prfm¥rfly raflected In the ￿paCIty of tha ¢harfty lo provlde fin8ndal supptyt to ¥$soclated ch￿ille6, and theroby to thg wld•r public. but also on a more local level to enhance and Imyove th• envlrnnment in and art￿nd thtrlr sotslh D¢rbyshlr• ba￿ of Balpgr. The trustoes roviw th8lr portfolio of assets annual￿ and thls has led to ¢ert¥ln properles whkth do not fomi part of Ihe core estste ar• consldered for sale on Ihe ¢)pen market. Tho tru$l•&s m8n8ge a wSd8 range of proper￿88 including commerdal, residential and agricultural farms and18nd. Thè INste8s' policy is (o identfy Ihe original Strutt bullt properties, and mill hou5è8 in thè trust to be Tetsln•d. Improved and leased. The InjS￿$S will continuo a wlder basis wth Iheir policy for Iholi on-golng r￿eW on the charfty's assets to estsblish the true capital value of th￿. and to understand how ihese might be utilised to their lull advanlage by r¢l¥ntyon. Improvemw)1 ond In some ￿58$ by $m¥ll $¢31¢ dlsposals and re￿nVes1menl. THE JOHN STRurr MEMORIAL FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The truste95 held their annual m8•ting on 18 Octob8r 2024 Ythich I￿￿Uded a tull4c8le wew of all Properties ovm8d by th8 charity and those under renovation. Threo propertles were gThed In ihe cwrent year lo Ihe charity from thè èststa of the18t& John &wtt. nam•ly 1A and 18 Slruit Street and 2 Ford Slreel. Wrth the a(Idillon81 PTopwUe$ in the dwrity the Injstees can work tcMMrds mo substanual plans In line th¢ ¢harftys oblectlves. CuYrenUy, the trustee6 are corKentrabng Ihew efforts on Providing upkeep lo the charfty of the John Strutt Centre for Parrot Conservati¢)n In Cufflbria along wlh inryea8ed security and improvements to Ihe prcpety at Eden Place Kirkby Stephen and the assoclat¢d 8viarf¥s. whlch In lum allows for an In¢rease in numbers olthe variety of parrgt$ ownèd by this ¢h81iiy forthe public benefit and its sludy of the collerjion of bird$. 1￿￿$1￿•ntASsots The Memorial Foundation 4 porlfolio of house$. tsM￿. bullthngs. land and allotments together srnall areas of woodland. These are 311 le8sed or r￿ted oui to provid& Income to support ihe charity's objectives. During the year maintenance work was undertakon on several of th$ properttes in the charitys portfolio. prinrApalty No 8 Wood Lane. to keep them in a good repair habitable condition to achieve the retum lor the charity's invesiments. No 46 Long Row was changed from 8 hollday16ase lo a standard lease as the return from il 8uffwed after the p8ndemlc In 2022 and dèmand l$ll away. It Is now fully let at an increased rental. Properbes that r8main lo bo rtrftJth$hed 8Te at 64 Long Rtsw. 46 Short Row and No 2 Knoll Top. The trustee5 are aclively conslderfng thg most economlc method to cary oul r8rthatlons to Ihese three PTopeth5. Finandal r•vlew The Stat¢m8nt of Flnanclal ActlvitSe5 shows n* in¢ome of ÉS60.490 12024 net Income OTr. £1,165.505). Ind(tdlng donallons of properties vthh a value of £465,000 {2024: £775,0001 from the estate of the late John S¢rutt. Revaluation gains on the charivs In￿lMent propertles ¥mcMJnted to £81,78012024.. £370,607). Totsl fvnds ot 31 March 2025 were £6,214.381 compared with £5.653.891 In 2024. The wlndpal fundlng sryjrce durirwJ the ¢uffgnt wr was ronl81 Incom And the donation ofproperth?s. Ros•ms pollcy It is the p￿ICY of the chadty th81 unrestrkted funds which have not been des¢gnaled for a specific LL%e should be maintained at a l&v&l equivalent to betsveen three and slx month's expenditure. The trustees con8iders Ih8t reseNos at this lev¢1 wlll ensure Ihat. in the event of a signffjcant drop In ftjndlng. they wlll be abl8 to ￿ntInue the ¢harfty'$ rrenl gctbwties while consideration is given to ways in which additlonal funds may be ralsed. Due to the expenditure incurrgd in ongoing improvemènt WO￿ to the charivs investrnenl properlie5 il has not been possible lo meet this ￿¥•1 of resèjves. The trustees b8Nève that once the irnprovement Work ha5 bew¢ compleled the enhanced rent ￿11 all￿ re$8N8s lo be Sncreased ¢0 Ihe deswed level. Rlsk factows The Irustees have assessed th$ major risks to ￿1¢h the d￿rIty Is 8xposed, and are satlsfied that systems are In F4ace to miligate exposure to thè major risks. Investrnent property. and Ils capa¢lty to generate incLYne. Is Ihe charity's most wnportant asseL As su(* Ihe win(yp81 risks to vthid) th¢ Charity 1$ exposed arè those associote(I wAh Ihis typ8 of PToperty. Legal & polltkal blsks - Duo to changes in the legal framework govemlng Investmeni pmperty. andlor the wder political framw¥ork affecting rural and reSIden￿'al property. These risks are mrlry drfficult to rnitigate, bul paylng ck8e attention ¢0 developments In these areas and taking odvice frorn the relevant profe5sional$. 88 Part of Ihe mafi8g¢mentfunction. wll ￿rri1 any negative impacts. Physical Los$- Du¢ to naiural or maTrmade damage. is Ihe m05t direct ri5K and Ihè propety asset is thus properfy irwred 098lnst such occurrences. proper Mainten￿Ce is carried out logelherwlh regular propwty inspections. Loss of income- As a result of la¢k ol tenants. or ienanls inablllty to pay. Is also a risK vlhith Is met ty undertaklng proper management lo se¢ure occupallon and malntaln control of debt. THE JOHN STRUTh MEMORIAL FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans forfithir• p•rfod* Therg is an owwing rnwew of th& rtsity's as88ts. to èstabltsh tho full Capit￿ vahjts of ttrw. and also unde￿trnd how these might be ullllsad to fum thants9•. by Itht￿)n prMI Inyovernenl. or In caBg8 by smAll4cale disposal And ie4nvestment. The progrnnhme of to eX1￿]r￿j wopeities ￿ 8150 Stst to ettifjnue. to driv loNard Ihe aims and cèjecfives of ralslng i￿r￿Me. 8Axi value. to •nable the dwlty to support ass¢tht•d chariiable •rtdeavcwrn. The thorftyls a ejynpary by wornntso, aThJ l¥ by 8 M•wanthJm •nd ArUdg8 OfA8*)d8Ik￿. The trust•88. olw the dlr•¢ttys fr* th• pjpose d c¢yyry Imv. serbyd dwlro th•yoar and up to the dat• ofslgnatUT• clth• 1knar￿al 8t•lrnl8 Wtrè: Mr R F de Roback Mr P fvA¢c¢jfn￿ck OBE IAr C M&kaWlb8( Mr E IA F Penro Mr W T•Mtt4mdlott MrR K Gmv•s None ofthe Irusiees any I￿•￿d￿l Inlw•st In the c4Nwny. AM ofthe trust•￿ •rn nwffll￿ of Ihe rA>mpany and guarant8• lo con¢rftr4Jt• £1 In the event of • ¥￿mIing up. The ch8rtty 18 owr8t8d •$ o ¢ompary contrdw by • bo•￿ of TfusIo￿. $tr8t•gle and poNry d¢d$lcm. and those Inv¢thtvJ major •w$ of ¢xpandilur* ar• mad8 by thg ful t¥)ard, ￿rTeftty ¢£￿$1$t￿￿ of fN• Tr￿leas. Lower level m8n8gemenl ¢kn$ions are ddegoted to the Trustee Mi dwge of Ihe •ststo Managem￿¢ rnlè. cuThenlly Mr R F De Robock, ¥￿th d•y to day m¥nogwent dewled lo tho oststes m8naglng agents. John G Hllls & Partnars. Ing %NIth oth•r profess11￿81 •JYi•ws. No fornial tralnlng 18 *v•n ￿ th• tyustttB only m•d• from tlwxe *kn supwt the d)orfVs In •ccordarK¢ vAth lh• cornwy$ oth. • r•sduti￿ th•t X0k￿￿n ￿j￿¢ Umlw be roop[￿nted •8 of Ihe company will b¢ Iwt at a Genwal Me*. Dlsdosure d Inforn￿￿on to audStor Each of the trustees hos ccrfrmed th* thern Infan￿1th Lrf *fii(* they ￿ •ware Is r•l•vanl ts th? audit, but ol which the authtor is unaware. They have hjvther Confi￿ tr￿1 th&y have taken •p￿￿￿•t¥ steps to Identity s￿h rdevant ￿kIrmatIOn ar*J kn wlablsh Ihat the audity bs aware of suth knformalion. MrRFd8Rthd Th18te• Dai¢.. jh.. 12 . 2•15. THE JOHN STRUTh MEMORIAL FOUNDATION STATEMEKf OF TRUSTEES. RESPONSIBILMES FOR THE YEAR ENDED 31 MARCH 2025 The Iwstees, vtho are 0L40 th8 dir8Ctors of The Jthn Strult ￿eM￿la1 FoUnd81b￿ ftt thè puryue of c(ryMny law, ore r&sponsibl8 for prsparlng the Tnjstees. Report and Ihts financial statements In 8￿rdI￿ ￿1h applicatle law and United KIngd￿lA¢¢W￿lln9 Stsndards IUnit¢d ￿rgdoM GenerafyknpbJ Ao>wntkng PracUce}. Company Iw requlrns ts trusteey ￿ pr￿Te Ilnand81 statements fc* •ach flnarKaal year whlch 9fj￿ ¥ tru• 8nd f•tr ew ol the slate of affaws ol the chanty and of tha In¢(￿1n9 rescu￿ WKJ appli¢ath)n of r•soLWCaB. Induding the In¢¢Yn• and expendiiurn. of the tharitth c(Mnp8ny fty that year. In preparfing the￿ flnar￿1 Statern￿ts, th* tn&slee5 arn I￿lTed lo: - select 5ultsble acCoUnU￿ pobdgs 4nd lh￿ aFpty Ihem conwsknty. - obs￿8 thè methods and prinryples in th8 chari￿5 SORP: - make ludgemnts and e5￿mateS thal are rnasonable and pwdwL - stsle vthether applScabl& UK Accojnling Standa￿$ have been 1o1hy￿d. to any materf&l dopartu d58dosed ond eXF481n￿ In the flnanu81 s1alwT￿nts. and - prnpare Ihe financlal slatements Ihvj goln9 c¢rK•m b* unlos8 tt b Irwpwoprith to presum t￿1 th• charfty w511 ccffllin¢J* In 0parn￿On. The trust••8 are reSP￿1b￿ for k•¥xrwJ adequalo acccwllThJ rerA)rds thal dWos9 wllh wwwble ac￿￿cY at gny Ilme the finandpl kwsltknn of the charfty *nabl• th•m to on5ure that Ihg flngndal statements comply ￿th tho Companles Ad 2008. They are ￿r￿s{blO for saf•guarthng Iho awts of the dwdty and hencg for tsklng rea8on•bl• 8i•p8 fLYthe prthn¥on and d•to¢kn of oth•r *r•gularltlv. THE JOHN STRUTT MEMORIAL FOUNDATION INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE JOHN STRUTh MEMORIAL FOUNDATION Oplnlon We have 8tyJlt8d the financaa ststements of The J(th sin￿ Mermiial Foundatil￿ Ilh8'c*ariWI for the year ond8d 31 Marth 2025 whlth coryise the StsteM￿l of fi￿rKI¥l ￿thit￿. the balarKe sheet and notes to the finandal Ststements. In¢ludlNJ significant Bccwnlirrfj polid•s. The ￿an￿al fr8mv•th that ha8 beon •ppll¢d In thelr proparatlon is aW1¢ab￿ law and Unli•d Kingdtyn A£c￿nti￿A Stsndath. In￿dIng Flnorthl R&portlng Standard 102 The Financial Rep￿tr￿ Standard wlicth ￿ the UK and Republie ￿ lrnland (United Kingdom Generally Wtd Acco￿tr￿ Practic8). In ourcylnion. Ihe finwal slatwn8nts: a Irue and fwr vlew ol tho $tst• ol the ¢tyTpon￿ •lth ￿ at 31 klarth 2025 of incoming resour￿$ 8tyJ applIcatic￿ ol rejwrc￿. Ils Inc¢m• expenthtUTe. lor the year then ended., have b•w Fwopety wepaT•d kn ac¢¢*dw wlth Unlt•J Klwdom Generauy Art*J kcwnllng Prac11￿. and Bul* for oplnlon We condu¢t•d our audlt In Intoffl￿ on Aud611ThJ (UK) {IS4s IUK)) •nd appH￿b Im¥. Our responslblliUe8 und¢r Iho8e 8tsndardg are fvrther desrybod In Audllorfs r•sponsibilltlos for audil ol tho financial sl*t•menl$ of our rnFrtxL Wt are I￿￿nd¢n1 of thg tharity In ac¢>)rdance wjih Ihe othlcal requiTem8nlS that arn r818vanl to ￿Jr audil of Iho finaN>al slalements in Ihe UK, indudlng the FRQS Elht¢g1 Stsnd8rd. ond we have lumllled our oih•f oth￿1 Te$rth￿tIllts￿ In acc(Ydance ￿1h th88& r•wlT•men¢s. W• be118V th•¢ th¢ audll evhJen¢& w¢ hav• ¢Jbt8ln•d Is sufficaent and apwcylèts to a b8sls for our opSnlon. Conclu•lon• rnl•tlhy lo gdng ¢us as a i￿. tn K£¢rd•Ko *4th Chapter 3 d Part le of Ihg Companies Act 21￿. Our audit has been urnlertaken so that 7At might state to the charitatle companY8 members those rnatt•rs ￿ are requi￿ to stale to them ￿ an auditcrf's rewt and for no oiher purpose. To the fullest exlent pemiitted by Law. do not acKept ￿ assum rnspon&7Jdty to aryone olher than lh& th8rit•bSe company and th• dI￿atrI6 •$8 i￿Ay. wdit thi5 reirt w for Ihe we have formed. Debornh Fletchef4lc For and on behalfof X c￿rtered Attountants Trinty House Thurston Road North81￿rt0ft Norlh Yothslwre DL62NA Bse FCA Isenlor statsJtoryAUdS￿) li THE JOHN STRurr MEMORIAL FOUNDATION STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrn•trlcted ilnM¥trlct•d funds funds 2025 2024 Incom• from: Donallons and legaclo$ Investm•nts 465,000 158.572 775.000 110,840 Tot•1 Incomo 621.572 885,840 Exp•ndl¢yrg on: Ralslng fiJnd8 Chadtabl• Jcuvltles 84.630 58,232 58,067 32.875 Total •xp•ndltur• 142.862 90.942 N•1 g•lnslO0s￿l) on Inv•8tm•nll 61.780 370,807 N•t In¢om• •nd mov•m•nt In fvndl 580,490 1,165,505 R•con¢lll#tlon of lund•: Fund balanc48 •t 1 Aprfl 2024 5,653,891 4,488.388 Fund bal•n¢M It 31 ￿r¢fv 2025 6.214,381 5.853,891 The stat￿￿nt of flnandal acllvltl•s In¢lud•s all galn8 and IoM•B recognl$•d In th• ￿ar. All Inco￿ and expendlture dorlvo from conllnulng activltles. The StateM￿t of financial acUvlUe$ a180 comples *llh the requlrgffltnts lor èn Inoom• #nd expendlture account under tho Companles Act 2006. THE JOHN STRUTT MEMORIAL FOUNDATION BALANCE SHEEr ASAT31 MARCH 2025 2024 11 6.290.IMXI 5.740,OIKI Curr•nt ￿••￿ Debtor8 Cash 8t bank and In har 12 13.288 25.101 46,010 33,161 Cv•dhoY*: •mount• f•lllng du• wlthlTh on• y••r 14 {21.629) 1119.2701 N•t wrr•nt •￿t￿l￿1•*I 24.381 188,109) Totsl J•••ts l•M ¢uff•nt ll•blllll•• 8,314,381 5.653.891 Crndltorn: amounts l•lllng du• aft•r mor• than on• y•ar 15 (1CI).(m) 6.214,381 5,653.891 The fvnd• of th• chMIty Unreslrfcted futyjs 8,214,381 5,653,891 6.214,381 5.8S3,891 14.11. 20sS Thg flnandal 8t•tem•nts appnN•d by th• tst•*# ￿............... .. N4r R F de Robètk Tru•te• THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Aceountlng poll¢l•* Ch•rtty Infornmt The John Strutt M¢nb)rfal Founda1￿￿ 15 a pri¥at8 company IOMW by guarante& In¢orpN81ed In England aThJ Wale8. Thts rog￿rn￿ crffice 18 John G HilK The Esta￿ Office. Lo1￿m. North Yortthre, OL8 SEW. 1.1 A¢¢ountlng ¢¢)nwntlon Thg flnandal stalemenls hav• be￿ pr8pwed In 8cclydan￿ *llh th• (*wrWs ffl•nK*and￿n and artld88 of ¥$sodation. the C¢)mponl•$ Ad 2C4)6. FRS 102 Tr Finandd Slandard 8PF41cabl8 In the UK and R&publlc of Irelanlr I'FRS 10ri and the chartti￿ SORP"h£cwntlrwJ and Raptylno by Charfl5￿ Statement of Recornfflended PrBdlco 8pF4¢able to cknties weparvy thelr actwnts h atUrdar￿ vAth the Finand81 Reporung Stand8rd Oppl￿abl• in th8 UK and Re￿￿41C of lrnlgnd IFRS 102r l•ff•clbM 1 January 20191. Th• charfty18 a Publ1¢ B•n8fi1 Entity as defined by FRS 11Y2. Th• thedty ha8 tsken ￿V*￿t•￿tr crf the provwm In lh• SW for dwrtt* rnt to y•pw• • Statffn•nl crf C•sh Flaws. Th8 flmndal *temonts •r• w•p¥•d kn sl8rftr¥J. ¥thk* of lh• th•rfty. Mon•l•ry amcwnt• In lh￿0 frnKl8181at•)￿￿ w• yo￿d￿d lo Ih Mest L Th• finandal ¥t•lem•nts b￿n w•paTh1 the hlvlcrfkol c4yMinlM, modN5•d lo Ind￿1• strnoni Fwop•ths •1 falr ¥alu•. Tho w*K4p81 act• •¢Jothl am •ot bolow. 12 Golno ¢on¢•rn Al the Ilme of ¥ppro¥lr*J lh• fflnanclal Stat￿10￿, the tru8t•es ha￿ a rnasC￿ab10 0xpectstk￿ that Ihtr ¢hErfty has 8dwuat• r8sourc•s io c4Jntinue in cwalknal ￿$t￿C0 the foreseeable futuro. Thus trL¢t•e8 1.3 Ch•rlt•ble lund• Unr•$trfd•d fvrrfl# •v4ll•t48 (or us8 81 dlsryekn of IM IfLLthe8 In lurth•r•nc• ol th* ¢hwliabl• obl•¢tlv•8. IncA￿e Is rocognlsed *th•n the l$1og•ly entiued to114ft8r any rorfoTh•rKe aXKIIknB beon m81, Cash donatyons.wp r•cr*Jrds¢d (ffl receipL Olher dcfflatiorffj w• rect￿LS•d once the charlty has been ￿tIlled ol the donakn, unless porfomiance conddh￿S requwti delefrnl rl th8 amounL Income tsx re¢overnble In relaticffi lo don8(1￿$ T•celved und•r fm Ald or deeds of c4)v4ngnl Is r•cognls&J al the Ilm• ofth& don8don. Grnnl in¢>Jn• h r•cognlsed eX¢eFI donor kryrf>8es condl&J￿ t*ttlth hove yel to fumlled b810rn the chty b¢corn enliued to kKixne. Inv•stment *Kom•, In the f(xm d Th)v¥sbi￿ dvM1￿ds and Tenthl is rnc¢gni¥d r•ealvabl• by tha ch•rfty. 1.5 Expend1￿r* Reswrces ewded are Induded in the Statemert d Fmgnii81 Acli¥its￿ on an aclxuals tAs1s, kn(knive ol ony VAT vthtd) ¢onnot be recovered. 10- THE JOHN STRU￿ MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ountlng pollcles (Contlnu•d) 1.6 Investfflent property Investment prop8ty. which is propgrty helrj to rentsls andlor for capital appreciation. is initially recognised at cost. whlch Indudes lh& purthase cost and 8ny dlrecuy attributable expendlture. Subsequently 11 Is measured at fair valu8 at the repJrltng 8nd dat8. Thè surplus or dèflclt on revalua￿On Is reo)gnlsed In profrtiff Ioss. Incorno from donatSons and legacl•s Unmtrl¢t•d Unrestrlcted lund$ funds 2025 2024 Donat¢cffis and grfts 465,000 715,OLKI Incom• from In¥eskn•nts Unrt•trl¢t•d Unrestrl¢tsd lunds lunds 202$ 2024 Rentsl incomè 156.S72 110.840 Exwdl¢ur• on ralslng fundg Unro$trlcted Unr•$trfct•d funds funds 2025 2024 Investm$nt property rLmnlng cosls Investment propety m8nag¢m¢nl artd legal fees Inve$tm•ni property repairs Finance costs 14,215 21,194 40,292 8,929 14.960 17,855 16.208 84,630 S8,067 11 THE JOHN STRurr MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Exp•ndllure an charftabl• acdvltle• Unr•sirfct•d Unr•slrt¢¢•d fund• fund• 21125 2024 Gr8nl fundlng of acuvlties Isee note 61 45,832 21,820 Support 12,600 11,055 58.232 32.875 Support C08ts Indudg amounts payabl• lo tho audltor lor the ludlt and preparaUon ofthe sthtutory accounts of £7,40812024'. £8,544). Gr•nts pay•bl• UnY••trlctsd Unrn•trfct•d fund• lund• 2020 2024 Grants to InBlllullon$'. Th• John Strull C•ntre for Parrot Consorvatlon 45,832 21,820 TN•te•• None of th• Iruot••$ Icy any person c¢)nn•¢ied vAlh th•ml r•eAlv•d ony r•munerallr￿ durfng th• ￿1{2024 - £nlll. Travel expenses, 3ubsl$ten¢• and Dth•r expondltur8 on b•hoif ol the foundallon totalllng £17412024 - £1711 has begn relmbursed to tsvo trustees In Iho year {2024 . fyvo tru6teeo1 In th8tr capacity as trustees. EmployM• Tho •¥er¥g¢ monthly number ol employe•8 dudng th& y••r w4•: 2025 Numb•r 2024 Number Toi#l Thert Woro no empl¢w•s whos• annual remunerauon was mcfe than £60,000. 12- THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AIARCH 2025 G￿n¥ ind on Inv••trnnt• Unr•strlct•d Unr••trl¢t•d funds (und• 2025 2024 81.780 370.807 10 T•x•tlon The •xempt from lax on Income arAJ gatrLS falNng ¥•lthin Ser￿On 505 of th• Taxes A¢t 1988 or sedton 252 of th• Toxauon of Charwile G8Ml$ kt 1992 lo the extont that th￿fj •r• appl18d to its dwritablo ob￿¥￿. 11 Inv••lm•nl pvop•rty 202$ F•lr ¥*1 Ai 1 Aprll 2024 Addltions through extwn•l •ctylslkn Net yin$ or Ios¥8 fatr w￿0 •c¥uslm•nts 5.740.WO . 468.220 81,780 At 31 Marth 2025 8.290,000 Full ¥•￿•10n8 ww• Undertak￿ w(yirll•s by Afff & A68od•te$. •n bnd•p•ndont RICS reglBlemd In 2018 after th• prowrb•s wer• gifted kn the tharlty. Th•se vakws wern upjated by John G HIN8. RICS r8gist•r•d valuer. as at 31 ma￿ 2025 to reffled th• hte5t c(ryWa1￿ m•rkel d•t•. Th• falr values arn m￿¢ I￿8￿¥* lo cempwth In th• lo¢•1 12 D•lA¢ 2025 2024 Amounts l•lllng du• wlthln y••r. other debtors Pr•payment$ and acuued IrK 9.286 4,002 3,607 13.288 13- THE JOHN STRU￿ MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Loan• ov•rdr•ft8 2025 2024 Other Iw¥ 100,000 100,000 Pay8ble wlthin one ytar Payable aft•rM• y•8r 100,000 100.000 Inelud8d wlthin borrovhng81s a loan from Th•ArthuT Slwu¢t T￿￿mOnt￿ry Trusl. Th• I￿rt 1$ ￿Cured ty • flx•d tharge over one oltho chadtys Inv•slm•nt propertl•8. Durfng tho yogr th• Trus1••8 of Tha Arthur Strutt Testarnentsry TnJBI agroed to extènd Ihe l(wi to bg repayabl• In August 2027. 14 Cr•dltor•: •mount• f•lllnq du• wlthln on• y•ar 2025 2024 BoTh0￿ng$ Trad• ¢radltors AcCA￿ts And dderr•d Inc4)m• 100.000 1,193 18.077 1,992 19,637 21,629 119.270 15 Cr•dltGrn: •mount¥ falllng du• aftv mor• than an• y•ar 2•28 2024 BOrrO￿￿n9$ 100,000 16 R•l•t•d party tr•n•4ctlo Durfng the year tho ¢harfty entered Into th• follovlng Ir¥n88Ctlon$ ￿1h rnlatad parU•s'. The tharfly In¢urred legal foes of £5.531 12024.. £3.038) lo mcco￿nIckS Somcltors, • flm tn tfvthlch Mr Potor Mcconnlck OBE, INslee.18 ¥ partn•r. Th• charfty Incurred m•nag•m•nt f•es and 8xp•n8•8 of £20,496 {2024'. £17,869) to J G H1118. a firn In wh1¢* Mr Rl¢haTd de Rob8ck. g trustae, Is a partner. At the year end there was an amc4mi aw￿ to J G Hills ol £1,99212024.' £1.1931. Tha charfty has a loan from The Arlhur Strutt Testament8ry Trust, 8 trust In whl¢h Ilr Rlthard de Robeck, 8 trustee, Is also a trusle8. Al the year end th¢ oulstan(ling balan¢& w¥$ £100.00012024'. £10D.0001. D¢t8il$ of the10gn are Induded in Note 13. 14-