REGISTERED CEIAIiITY NUMBER.. 1160798
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 July 2024
for
The Adrian & Marit Fr2neotse Ralldag
Bequest
Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

The Adriall & Marie Francoise Randag
Bequest
Contents of the Financial Statements
for the Year Ended 31 July 2024
Page
Report of the Trustees
Independent Examlner's Report
Statemcnt of Financial Aetlvftles
Balance Sheet
Notes to the Flnancial Statements
7 to 13
Detailed Statement of Financial Activities
14

The Adrian & Marie Francoise Randag
Bequest
Report of the TrustC¢S
for the Year Ended 31 July 2024
The truste¢5 present their report with the financial statements of the clwity for the year ended 31 July 2024. The trusle¢s
have adopted the pmvisions of Accounting and Reporting by Charitie5: Ststement of Recommended Practice applicable to
charities preparing their a￿oUnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective l January 2019).
OBJECTtVES AND ACTivrrIES
Objective$ 2nd aims
The Charity is established to provide fimds for the benefit of the exclusively charitable purpose of advancing education at
Catholi¢ schools in Great Britain. In setting our objeclives and by funding ¢ducation, the trustees have considered the
Charity Commission's public benefit guidance.
Significant 2etivities
The main actLVlties of the charity are to utilise the income received from investments and the capital to further education at
Catholic schools in Great Britain for those pupils who otherwise would b¢ unablc to attend.
Grantmaldllg
The Settlor wished to enable Roman Catholic children to bcncfit from a Catholic boarding education, particularly those from
large families whose parents may fmd the fees unaffordable. He had benefiied froin such an education himself at Ampleforth
College, and valued th¢ Benedictine ethos. He was interested in helping good all-rounders who show early signs of
leadership ability. The Trustees continue to follow bis wishes and the strategy he established.
Applications for financial help are put lo the trustees by the Catholic school which the parents have cliosen for their child.
Currently, applications from Amplelorth have been awarded the funds available. An outside specialist organisation
establishe5 the level of financial need of the family. The seleciion of Randag Fellows, as Ihey are known, is made finally by
the Randag TNstees who agree to fuod a peIcentage of fees up to s￿/0 to the completion of their time at the school, subject
to an annual check ol continuing financial need.
The Randa8 bursary offet is sent by the school to the parents, who are asked to vnite to the Randag Trustees acknowledging
the offer, agreeing to th¢ annual fthallcial ¢hecL and to their Randag Fellow child joining fellow RF'5 and the Trustees at an
annual outing. The Trustees hope that the RF'S will do their best to benefit from the opportunity offered, and are shown their
reports.The Trnstees follow the pmgrcss of the RFS. and take a continuing intcrcst in ihem after they leave. The past RF'S
are encouraged to become active alumni to assist fvture students.
ACIIIEVFMENT AND PERFORMANCE
Cliaritable activities
During the year the Charity contributed £201,390 (2023. £154.174) towards school fees for Randag Fellows. Fourteen pupils
were being funded at the start of the academic year. Two of the fourteen completed their education in July 2024, leaving
twelve Randag Fellows to continue into September 2024. Th¢ objectives sei hav¢ therefore been achieved.
Investment performance
Investment income decreased by just over 47Vo but the portfolio reported gal￿$ of £925.128 ¢ompared to losses of £362,000
th¢ previous years. These results are in line with the Inve￿t￿Cllt policy agreed with Waverton.
Plans lor the future
The Settlor's lega¢y and resulting increase in income will enable the charity to fund more bursaries for Catholic children.
Bursary offers for the term starting in September 2024 have bew made to two additional pupils, bringing the number of
Randag Fellows to fourteen.
Mor¢ late applications for mid-year entry will be considered as they are ￿ceIved.
Page I

The Adrian & Marie Fr2ncotse R2ndig
Bequest
Report of the Trustees
for the Year Ended 31 Jllly 2024
FINANCKAL REVIEW
Financial position
Due to the legacy received in previous years, the ¢harity showed a strong financial position at the balance sheet date.
Unrestricted reserves amounted to £8,487,208 (2023 - £7,683,728). The trustees consider that this is sufficient to fimd
existing and new pupils for the foreseeable future.
Investment policy and obje¢tives
Investment policies are set by the Tft￿tees and the inveslment maDagers, Waverton.
Waverton have a discretionary mandate and the charity takes a D￿dIUm/1008 tenn approach to risk with particular focus on
perforniance over 3-5 years.
Reserves policy
The Trustees maintain sufficient free reserves to ensure the Trnst can fund supported students for the duration of their
secondary education.
STRUCTURE, GOVERNANCE AND MANAGEMENT
GovernlTrg document
The charity is governed by a Tn￿t Deed dated 30 December 2014.
Recruitment And appointment of new trustees
Trustees were appointed by the Settlor during his lifetime and thereafter, by the Board of Trustees. The length of their
service is not limited.
Organisatlonal structure
The charity is run solely by the board of trustees.
Decision maklng
All decisions are made by the tn￿tees.
iilsk management
The Trusiees believc thc most significant risk is a loss of capital value in the Trust's assets, but consider the risk of it ever
dTopping below the levcl of their ¢omnLitments is low.
REFEREI NCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1160798
Principal address
Steadleaze House
Hammerwood
East Grinst¢ad
West Sussex
RH19 3QD
Trustees
V B Tatmer- Chair
P G Scrope
C R A Scrope
B M O'Brien-Twoliig - resigned I l July 2023
S Kirby - appointed I l July 2023
Page 2

The Adrian & TrIarie Francoise Randag
Bequcst
Report of the Trllstees
for the Year Euded 31 July 2024
RIFERENCE AND ADMINISTRATIVE DETAtLS
Independent Examiner
Margaret Brett
Bullimores LLP
Chartered Acoountants
Old Printers Yard
156 South Street
Dorking
Suffey
BI14 2HF
Solieitors
Withers LLP
20 Old Bailey
London
EC4M 7EG
TILe Adrian & Marie Francoise Randag Bequest is known as The Randag Trust.
STATEMENT OF TRUSTEESI RESPONSIBILITIES
The trustees are r¢sponsible for preparing the Report of the T￿SteeS and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Chariti&8 Act 201 I, Cliarity (Accounts and Reports) Regulations
2008 and the provisions of the trust deed requires the trustees to prepare financial staiements for each fmancial year whicli
give a ttije and fair view of the slate of affairs of the charity and of the incoming resources and application of resources,
including the income and expenditure, of the charity for that period. In preparing those finan¢ial statements, the trustees are
r¢quired to
select suitable accounting policles and then apply ihem ¢onsistently-
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent.
preparc the financial statements on the going concern basis unless it is inapptopriate to presume that the charity will
continu¢ in business.
The trustees are responsible for keeping proper accounting records which dksclose with reasonable accuracy at any time the
fwancial position of the Charity and to enable them to ensure that the financial statements comply wAth the Charities Act
201 I, the Charity (Accounts and Repotts) Regulations 2008 and the provAsions of the trust dccd. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and dele¢tion of fraud and
other irregularAties.
Z./: o i:.Z5
Approved by order of the board of trustees on ..........
. and signed on its behalf by.
V B Tanner- Trustee
Page 3

Independent Examiner's Report to the Trustees of
The AdrAan & Maric Fraucoise Ralldag
Bequest
Illdependent examiner's report to the trustees of The Adrian & Marie Fr2ncoise Randag Bequest
I report to the clwity trustees on my examination of the accounts of The Adrian & Marie Francoise Randag Bequest (the
Tnjst) foi the year ended 31 July 2024.
Responsibillties thnd basis of report
As the charity trustees of the Trust you are responsible for the prepardtion of the accounts in accordance with the
requirements of the Charities Act 2011 ('the AGV).
I report in respect of my examination of the Tn￿,$ accounts carried out under Sectioa 145 of the Act and in canying out my
examination I have followed all applicable Directions given by the Charity ComMi￿10n under Section 145(5)(b) of the Act.
Independent examtner's stAtetnent
I have completed my examination. I confirni ihat no material matters have come to my attention in connection with the
examination giving me cause to believe that in any nmlerial respect:
accounting records were not kept in respect of the TNst as requiml by Section 130 of the ACL or
the accounts do not accord with those records. or
the accounts do not comply with Ihc applicable requirements concerning the forn] and ¢ontent of accounls set out in
the Charities (Accounts and Repotls) Regulations 2(Ki8 other than any requirement that the ac¢ounts give a tNe and
fair view which is not a matter considerpAI as part of an independent examination.
I have no concerns and have come across no other matters in connection with the ¢xamination to vthich attention should be
drawn in this report in order to enable a proper understanding olthe a¢counts to be reached.
Margaret Brett
Bullimores LLP
Chartered Accountants
Old Priaters Yard
156 South Street
Dorking
Surrey
RH4 2HF
Date..
202f
Page 4

The Adrian & Marie Francoise Randag
Bequest
Statement of Finallcial Activitics
for the Year Ended 31 July 2024
31.7.24
Unrestricted
fund
3E,7.23
Total
fimds
Notes
INCOME AND ENDOWMENTS FROM
Donalions and legacies
6,000
307
Investment income
120,993
228,357
Total
126,993
228,664
EXPENDITURE ON
Raising funds
37,274
31,992
Charitjble actlvfitles
Si Laurence Education Trust (for fees at
Ampleforth College)
Other resources expended
201,390
1.253
154.744
Other
2,724
5,869
Total
242,641
192.605
Net gainsl(losses) on investments
925,128
(362,000)
NET INCOMEI(EXPENDITURE)
809,480
(325,941)
RECONCtLIATION OF FUNDS
Total funds brought forward
7,683.728
8,009.669
TOTAL Fuf4DS CARRIED FORWARD
8,493,208
7,683,728
CONTINUING OPERATIONS
All income and expenditur¢ has arisen from continuing activities.
The notes fonn part of these financial sttiements
Page 5

The Adrian & Maric Francoise Randag
Bequest
Balance Sheet
31 July 2024
31.7.24
UDrestricted
fjjnd
31.7.23
Total
funds
Notes
FIXED ASSETS
Investn￿nts
8,451,864
7,567,207
CURRENT ASSETS
Debtors
Cash at bank
5,872
38,182
80,386
38,805
44,054
119,191
CREDITORS
Amounts falling due wiLhin one year
(2,710)
(2,670)
NET CURRENT ASSETS
41,344
116,52E
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,493,208
7,683,728
NEI T ASSETS
8,493,208
7,683,728
FLTrIDS
Unrestricted funds
8,493,208
7,683,728
TOTAL fuNDS
8,493,208
7,683.728
The financial statements were approved by the Board of Tn￿lee$ and authorised for issue on
and were signed on ils behalf by:
V B Tanner- Tnlstee
The not&8 forni part oFth&s¢ financial statements
Page 6

The Adrian & Marie Francoise Randag
Bequest
Notes to the FÉnancial Statements
for the Year Ended 31 July 2024
ACCOUNTING POLICIES
Basi5 of preparing the financial ststements
The filla￿la1 statements of the cbarity, which is a public benefit eniity under FRS 102, have been prepared in
accordance with thc Charities SORP IFRS 102) 'Accounting and Reporting by Charities: Statem¢nt of
Recommended Practice applicable to charities pr¢paring thetr accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (eFEective l January 2019),, Financial Reporting
Standard 102 'The Financial Reporting Standard applirAble in the UK and Republic of Ireland, and the Clwities Act
2011. The financial slalements have been pr¢pared under the historical cost Gonv¢ntion, with the exception of
investments which are iThcluded at mark¢t value. as modified by the r¢valuation of certain assets.
The presentatÈonal and fvn¢tional cuffency of The Randag T￿￿t Is the £
The charity has taken advantage of the following disclosure exemption in preparing thes¢ financial statements, as
pertni¢led by FRS 102 The Financial Reporting Standard applicable in the UK and Rcpublic of Ircland,;
the requirements of Section 7 Ststement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fijnds, it is
probable that the income will be received. and the amount ¢an be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligalion Gommitting the charity
to tliat expenditure. xt is probable that a transfer of e¢onomic benefits will be required in settlement and the amount
of the obligation can be measured reliably. Expendi¢ur¢ is accounted for on atL accruals basis and has been classÉfied
under headings that aggregate all cost related to th¢ category. Where costs cannot be directly attributed to particular
h¢adin8S they have been allocaied to actLVllies on a basis consisteni with the use of resources.
Grants offered subject to conditions wlllch have not been met at the year end date are noted as a commitment but not
accrued as expenditure.
Tllxation
The charity is exempt from tax on its charitsble activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Reslricted funds Gan only be used for particular restricted purposes within the objects of the charity. Restrictions
arise whcn specified by the donor or when funds are raised for particular restrEcted putposes. There are currcnlly no
restricted funds.
Further explanation of the natsre and purp¢xse of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign cutrencies are translated into sterling at the rdfrs OF exchange rnling at the balance
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchan0¢ ruling at the date of
transaction. Ex¢liange differences are taken into a¢counl in arriving at the operating result.
Investments
Investments are initially recogni5ed at their transaclion value and subsequenily measured al tlieAr fair value as at the
balallce sheet date using the closing quoted market price. The Statement of Financial A¢tivities includes the net gains
and losses arising on revaluation and disposal throutshout the year.
Page 7
continued...

Tbe Adrian & Marie Francoise Ralldag
Bequest
Notes to the Financial Statemcnts - eontinued
for the Year ETrdcd 31 July 2024
INVESTMENT INCOME
31.7.24
31.7.23
Dividends
Interest
114,357
6.636
214,993
13,364
120,993
228,357
RAISING FUNDS
Investmeut management Costs
31.7.24
31.7.23
Portfolio management
37,274
31.992
TRUSTEESI REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 July 2024 nor for the year ended
31 July 2023.
Tru$tee5' expenses
There were no trustecs, expe￿￿ paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and legacies
307
Investment income
228,357
Total
228,664
EXPE( NDITURE ON
Raising funds
31,992
Charitable activitie8
St Laurence Education Trust (for fees at
Ampleforth College)
154,744
Other
5,869
Total
192.605
Net gainsl(losses) on investments
(362,000)
Page 8
continued...

The Adrian & Marie Fraueoise Randag
Bequest
Notes to the Financial Statements- continued
for the Year Ellded 31 July 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
NET INCOMEI(EXPENDITURE)
(325.941)
RECONCILIATION OF FUNDS
Total ￿ndS brought fonvard
8,009,669
TOTAL FUNDS CARRIED FORWARD
7,683,728
FIXED ASSET INVESTMENTS
31.7.24
31.7.23
Shares
Capital Accounls
8,434.860
17,004
7.566,116
1,091
8,451,864
7,567,207
Additional infornkation as follow5:
Listed
investments
MARKET VALUE
At l August 2023
Additions
Disposals
Revaluations
7,566,116
2,351,874
(2,379.198)
896,068
At 3 l July 2024
8.434,860
NEI T BOOK VALUE
At 31 July 2024
8,434,860
At 31 July 2023
7,566,116
There were investtnent assets of £4,761,693 (2023 - £3,995,737) outside the UK.
There were no material investments.
Page 9
continued..

The Adrian & M2rie Francoisc Randag
Beqllest
Notes to the Financial Statements - colltiuued
for the YeAr Ended 31 July 2024
FIXED ASSET INVESTMEf4TS - continued
Cost or valuation at 31 July 2024 is represented by:
Listed
investments
Valuation in 2024
Cost
976,376
7,458.484
8,434,860
If the investments had not been rev8lued they would have been included at the following historical cost..
31.7.24
31.7.23
Cost
7.458,484
7,485,731
The investrnents were valued on an open market b&sis on 31 July 2024 by Waverton.
Investrnents (neither listed nor unlisted) were as follows:
31.7.24
31.7.23
Waverton Capital Account
17,004
1,091
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24
31.7.23
Piepayments and accrued income
5,872
80,386
Page 10
continued...

Tbe Adrian & Marie Frantoise R2nd2E
Bequest
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24
31.7.23
Other creditots
2,710
2.670
MOVEMENT IN FUNDS
Net
m0vell￿nt
in ￿ndS
At
31.7.24
At 1.8.23
Unrestricted funds
General fund
7.683,728
809,480
8,493,208
TOTAL FUNDS
7,683,728
809,480
8,493,208
Net movement in fvnds, included in the above are as follows:
Encoming
rcsources
Resources
expended
Gains and
losses
Movement
in ￿ndS
Unrestricted funds
General fund
126,993
(242,64L)
925,128
809,480
TOTAL FUNDS
126,993
(242.641)
925,128
809,480
Comparatives for movemenl In funds
Ne¢
movement
in funds
At
31.7.23
At 1.8.22
Unrestricted funds
General fund
8.009.669
(325.941)
7,683,728
TOTAL FUNDS
,009,669
(325,941)
7,683,728
Page 11
continued...

The Adrian & Marie Francoise R2ndag
Bequest
Notes to the Financial Statements - continued
lor the Year Ellded 31 July 2024
MOVEMENT IN FUNDS - contillued
Comparative net movement in funds. included in the above as follows:
Incoming
resources
R¢sources
¢xp¢nded
Gains and
losses
Movement
in funds
Unrestricted funds
General fvnd
228,664
(192,605)
(362,000)
(325,941)
TOTAL FUNDS
228.664
(192.605)
(362.000)
(325,941)
A current year 12 months and prior year 12 months combkned position is as follows:
Net
movetncnt
in fisnds
At
31.7.24
At 1.8.22
Unrestricted funds
General futLd
8,009,669
483,539
8,493,208
TOTAL fuNDS
8,009,669
483,539
8,493,208
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:
Incoming
rcsources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
355,657
(435.246)
563,128
483,539
TOTAL FUNDS
355.657
(435,246)
563,128
483,539
Page l2
COTktinued...

The Adrian & Marie Francoise Randag
Bequest
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
10.
OTHER FINANCIAL COMMITMENTS
At 31 July 2024 the total of other financial commitments amounted to £344.493. This r¢lates to ￿tUre fexs for
existing Randag Fellows and includes an allowance for potential discounts and infiationary increases.
ii.
RELATED PARTY DISCLOSURES
During the year the charity received £6000 (2023 £307) in relation to the legacy without condition from A G
Randag, the settlor and fornier tn￿Éee.ThjS legacy includes a beneficial interest in the G B Alexander WIEI Trust.
12.
PUBLIC BENEFIT ENTITY
The Adrian and Marie Frdncoise Randag Bequut is a publi¢ benefit entity.
Page 13

Thc Adrian & Marie Francoise Randag
B¢qll￿t
D¢tailcd Statemellt of Fiuan¢ig1 Aetivitics
for the Year Ended 31 July 2024
31.7.24
31.7.23
INCOME AND ENDOWMENTS
Donations 2nd legacies
Legacies
6,000
307
Investment income
Dividends
Interest
114,357
6,636
214.993
13.364
120.993
228,357
Total incoming resource5
126.993
228,664
EXPENDITURE
Investment mAnaEement ¢o$t8
Portfolio manag¢m¢nt
37.274
31,992
Cliaritable activities
Sundries
Grants to institutions
1,253
201.390
570
154,174
202.643
154,744
Supporl Costs
Ilnance
Bank char8es
104
315
Governance costs
Accountancy
Legal and pro£e8sional fees
2,620
3,054
2,500
2.620
5.554
Total resources expended
242,641
192,605
r4et (expenditure)lincome
(115,648)
36,059
This page do￿ not fo￿ part of the statutory fLnancial statements
Page 14