REGISTERED CHARITY NUMBER: 1160798
Report of the Trustees and
Unaudited Flnancial Statements
for the Year Ended 31 July 2025
for
The Adrlan & Marle Francolse Randag
Bequest
Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
DoTking
Surrey
RH4 2HF

The Adrlan & Marle Francoise Randag
Bequest
Contents of the Flnaneial Statements
for the Year Ended 31 July 2025
Page
Report of the Trustees
I to 3
Independent Examiner's Report
Statement of Flnaocial Aetlvlties
Balan¢¢ Sheet
Notes to the Flnaneial Statements
7 to 13
Detailed StatemeDt of FinaDclal Activities
14

The Adrian & Marie Francoise Randag
Bequest
Report of the Trustees
for the Year Ended 31 July 2025
The trustees present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees
have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity is established to provide fimds for the benefit of the exclusivety Ch￿itable pu4x)se of advancing education at
Catholic schools in Great Britain. Jn setting our objectives and by funding education, the trustees have considered the
Charity Commission's publi¢ benefit guidance.
Signitleant activiti
The main activities of the charity to utilise the income received from investsnents and the capital to further edu¢ation at
Catholic schools in Great Britain for those pupils who otherwise would be UDable to att¢nd.
Grantmaldng
The Settlor wished to enable Roman Catholic children to benefit from a Catholic boarding education, particularly those from
large families whose parents may find the fees unaffordable. He had benefited from such an education himself at Ampleforth
College, and valued the Benedictine ethos. He was interested in helping good all-rounders who show early signs of
leadership ability. The Trustees continue to follow his wishes and the strategy he established.
Applications for financial help are put to the trustees by the Catholic school which the parents have chosen for their child.
Currently, applications from Ampleforth have been awarded the funds available. An outside specialist organisation
establishes the level of financial need of the family. The selection of Randag Fellows, as they are known, is made finally by
the Randag Trustees who agree to fund a percentage of fees up to s￿/0 to the completion of their time at the sch(iol, subject
to an annual check of continuing financial need.
The Randag bursary offer is sent by the school to the parents, who are ￿ked to write to the Randag Trustees acknowledging
the offer, agreeing to the annual financial check, and to their Randag Fellow child joining fellow RF'S 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 progress of the RF'S, and take a contlDuing interest in them after they leave. The past RF'S
are encouraged to b¢¢ome active alumni to assist future students.
ACHIEVEMENTS AND PERFORMANCE
Charltable activilles
During the year the Charity contributed £230,741 (2024. £201,390) towards school fees for Randag Fellows. Fourteen pupils
were being funded at the start of the academi¢ year. One left mid year and a further 4 pupils completed their education in
July 2025. Two new students to start in autumn tern). The objectives set have therefore been a¢hieved.
Investment perfomance
Investment income decreased by just over 150/0 but the portfolio reported gains of £451,768 compared to gains of £925,128
the previous years. These results are in line with the investment policy agreed with Waverton.
Plans for the future
The Settlorfs legacy ond resulting increase in income will enable the charity to continue funding bursaries for Catholic
children. Bursary offers for the terni starting in 2025 have been made to two additional pupils, bringing the number of
current Randag Fellows to eleven.
More late applications for mid-year enty will be considered as they are received.
Page I

The Adrian & Marie Franeoise Randag
Bequest
Report of the Trustees
for the Year Ended 31 July 2025
FINANCIAL REVIEW
Financial position
Due to the legacy received in previous years, the charity showed a strong financial position at the balance sheet date.
Unrestricted Teserves amountsd to £8,759,449 (2024 - £8,493,208). The trnstees consider that this is sufficient to fund
existing and new pupils for the foreseeable fUtt￿e.
Investment polley and objectives
Investhient policies are set by the Trustees and the investment managers, Waverton.
Waverton have a discretionary mandate and the charity takes a mediumllong terni approach to risk with particular focus on
perfom)an¢e over 3-5 years.
Reserves polficy
The Trustees maintain suificient free reserves to ensure the Tn￿t can fund supported students for the duration of their
secondary education.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Covernlng document
The charity is governed by a Trust Deed dated 30 December 2014.
Recrultrnent and appolntment 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.
Organl$atlonal strncture
The charity is run solely by the board of trustees.
Deeislon making
All decisions are made by the trustees.
Risk management
The Trustees believe the most significant risk is a loss of capital value in the Trusvs assets, but consider the risk of it ever
dropping below the level of their commitments is low.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered ChArity number
1160798
Prlnclpal address
Sleadleaze House
Hammerwood
East GTinstead
West Sussex
RH19 3QD
Trustees
V B Tanner- Chair
P G Scrope
C R A Scrope
S Kirby
Page 2

The Adrian & Marie FraD¢oise Randag
Bequest
Report of the Trustees
for the Year Ended 31 July 2025
REFERENCE AND ADMIIYISTRATIVE DETAILS
Independent Examiner
Margaret Brett
Bullimores LLP
Chartered Accountsnts
Old Printers Yard
156 South Street
Dorking
RH4 2HF
Solicitors
Withers LLP
20 Old Bailey
London
EC4M 7EG
The Adrian & Marie Francoise Randag Bequest is known as Th¢ Randag Tn￿t.
Approved by order of the board of trustees on ....
3o..]/o./2.r
. and $i￿ed on its behalf by:
V B Tanner- Trustee
Page 3

Independent Examiner's Report to the Trustees of
The Adrian & Marie Frantoise Randag
Bequest
Independent examiner's report to the trustees of The Adrlan & Marle Franeoise Randag Bequest
I report to the charity t￿steeS on my examination of the accounts of The Adrian & Marie Francoise Randag Bequest (the
Trust) for the year ended 31 Juty 2025.
Responsibilitles and basis of report
As the charity tn]ste¢s of the Trust you ar¢ responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Trust's accounts c￿Tled out under Section 145 of the Act and in carying out my
examination I have followed all applicable Direction5 given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirni that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by Section 130 of the Act. or
the accounts do not accord with those records. or
the accounts do not comply with the applicable requirements conceming the forni and content of accounts set out in
the Charities (Ar¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a true and
fail view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in conn¢¢tion with the examination to which attention should be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
Margaret Brett
Bullimores LLP
Chartered A¢¢ountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF
Page 4

The Adrian & Marie Francoise Randag
Bequest
Statement of Finanelal Activlties
for the Year Ended 31 July 2025
31.7.25
Unrestricted
fund
31.7.24
Total
funds
Notes
COME AND ENDOWMENTS FROM
Donations and legacies
6,000
Investment income
102,206
120,993
Totsl
102,206
126,993
EXPENDITURE ON
Raising fimds
52,644
37274
CharStgbl¢ aetlvltie$
St Laurence Education Trust (for fees at
Ampleforth College)
Other resources expended
230,741
560
201,390
1,253
Other
3,788
2,724
Total
287,733
242,641
Net gains on investments
451,768
925,128
IYET INCOME
266,241
809,480
RECONCILIATION OF FUNDS
Total funds brought forward
8,493,208
7,683,728
TOTAL FUNDS CARRIED FORWARD
8,7$9,449
8,493 ?08
CONTINUING OPERATIONS
All income and expenditur¢ has arisen from continuing activities.
The notes forn] part of these financial statements
Page 5

The Adrian & Marie Franeoise Randag
Bequest
Balance Sheet
31 July 202S
31.7.25
Unrestricted
fund
31.7.24
Total
funds
Notes
FIXED ASSETS
Investments
,732,472
8,451,864
CURRENT ASSETS
Debtors
Cash at bank
3,590
26,233
5,872
38,182
29,823
44,054
CREDITORS
Amounts falling due within one year
(2,846)
(2,710)
NET CURRENT ASSETS
26,977
41,344
TOTAL ASSETS LESS CURRENT
LIABILITIES
,759,449
8,493,208
NET ASSETS
,759,449
8,493,208
FUNDS
Unrestricled fimds
8,759,449
8,493,208
TOTAL FUNDS
,759,449
8,493,208
The finan¢ial statements were approved by the Board of Trustees and authorised for issue on
and were signed on its behalf by:
A),l.10/2r
V B Tanner- Truste¢
The notes forni part of these financial statements
Page 6

The Adrian & Marie Francoise Rgndag
Bequest
Notes to the Financial Statements
for the Year Ended 31 July 2025
ACCOUNTING POLICIES
Basi5 of preparing the financial statements
The financial statements of the charity, which 15 a public benefit entity und¢r FRS 102, have b¢¢n prepared in
cordance with the Charities SORP (FRS 102) 'A￿OUntIng and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial ReportlDg
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting
Standard I02 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act
2011. The financial statement5 have been prepared under the historical cost convention, with the exception of
investments which are included at market value, as modified by the revaluation of certain assets.
The presentational and fiLnctional currency of The Randag Trust is the £
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as
perniitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,:
the rquirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the ¢harity has entitlement to the funds, it is
Probable that the income will be received, and the amount ¢an be rne￿ured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmitting 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 r¢sources.
Grants offtred subje¢t to conditions which have not been met at the year end date are noted as a commitment but not
accrued as expenditure.
Tax9tlon
The charity is exempt from tax on its charitable activities.
Fund a¢eounting
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 wTthin the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes. There are currently no
restricted funds.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Forelgn Currencies
Assets and liabilities in foreign Cu￿enCieS are translated into sterling at the rates of exchange n]ling at the balance
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange rnling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.
Investments
Investments are initially rerognised at th¢ii transaction value and subsequently measured at their fair value as at the
balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains
and losses arising on revaluation and disposal tbroughout the year.
Page 7
continued..

The Adrian & Marie Francoise Randag
Bequest
Notes to the Finaneial Statements- continued
for the Year Ended 31 July 2025
INVESTMENT INCOME
31.7.25
31.7.24
Dividends
Interest
92,226
9,980
114,357
6,636
102,206
120,993
RAISING FUNDS
Jnvestment management costs
31.7.25
31.7,24
Portfolio mgJ]agement
52,644
37,274
TRUSTEESI REMUNERATION AND BENEFITS
There were no tru5tees' Temuneration or other benefits for the year ended 31 July 2025 nor for the year ended
31 July 2024.
Trusteej, expenses
There were no tntstees, expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fimd
INCOME AND ENDOWMENTS FROM
Donations and l¢gacies
6,000
Investment Ancome
120,993
Total
126,993
EXPENDITURE ON
Raising funds
37,274
Charitable aetlvlties
St Laurence Education Trust (for fees at
Ampleforth College)
Other resources expended
201,390
1,253
Other
2,724
Total
242.641
Net gains on investments
925,128
Page 8
continued...

The Adrian & Marle Francoise Randag
Bequest
Notes to the Financial Statements - contxnued
for the Year Ended 31 JUIY 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestrictsd
fund
NET ￿COmE
809,480
RECONCILIATION OF FUNDS
Total funds brought forward
7,683,728
TOTAL FUNDS CARRIED FORWARD
8,493,208
FIXED ASSET INVESTMENTS
31.7.25
31.7.24
Shares
Capital Accounts
8,643,838
88,634
8,434,860
17,004
8,732,472
8,451,864
Additional infonnation as follows..
Listed
investments
MARKET VALUE
At l August 2024
Additions
Disposals
Revaluations
8,434,860
3,039,876
(3,017,732)
186,834
At 31 July 2025
8,643,838
NET BOOK VALUE
At 31 July 2025
8,643,838
At 31 July 2024
8,434,860
There were investment assets of £5,017,519 (2024 - £4,761,693) outside the UK.
There were no material investments.
Page 9
continued...

The Adrian & Marie Francoise RaDdag
Bequest
IYote5 to the Finaneial Statements - continued
ror the Year Ended 31 July 2025
FIXED ASSET INVESTMENTS- continued
Cost or valuation at 31 July 2025 is represented by:
Listed
investments
Valuation in 2024
Valuation in 2025
Cost
976,376
171,338
7,496,124
8,643,838
If the investments had not been revalued they would have been included at the following historical cost..
31.7.25
31.7.24
Cost
7,496,124
7,458.484
The investments were valued on an open market basis on 31 July 2025 by Waverton.
Investsnents (neither listed nor unlisted) were as follows:
3l.7.25
31.7.24
Waverton Capital Account
88,634
17,004
DEBTORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR
31.7.25
31.7.24
Prepayments and accrued income
3,590
5,872
Page 10
continued...

The Adrian & Marie Franeoise Randag
Bequest
Notes to the Fingneial Statements- ¢ontlnued
for the Year Ended 31 July 2025
CREDITORS: AMOUNTS FALLING DUE WITH￿¥ ONE YEAR
31.7,25
31.7.24
Other creditors
2,846
2,710
MOVEMENT L¥ FUNDS
Net
movement
in funds
At
31.7.25
At 1.8.24
Unrestritted funds
General fund
8,493,208
266,241
8,759,449
TOTAL FUNDS
8,493,208
266,241
,759,449
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
102,206
(287,733)
451,768
266,241
TOTAL FUNDS
102,206
(287,733)
451,768
266,241
ComparAtives for movement in fuDdJ
Net
movement
in ￿nds
At
31.7.24
At 1.8.23
Unre5trleted funds
General fund
7,683,728
809,480
8,493,208
TOTAL FUI¥DS
7,683,728
809,480
8,493,208
Pagell
ontinued...

The Adrian & Marie Francoise Randag
Bequest
Notes to the Financlal Statements- continued
lor the Year Ended 31 July 2025
MOVEMENT IN FUNDS - eontinued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrieted funds
General fund
126.993
(242,641)
925,128
809,480
TOTAL FUNDS
126,993
(242,641)
925.128
809,480
A current year 12 months and prior year 12 month$ Combined position 1$ as follows:
Net
movement
in funds
At
31.7.25
At 1.8.23
Unrestricted funds
General fund
7,683,728
1.075,721
8,759,449
TOTAL FUNDS
7,683,728
1,075,721
8,759,449
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fund
229,199
(530,374)
1,376,896
1,075,721
TOTAL FUNDS
229,199
(530,374)
1,376,896
1,075,721
Page 12
continued..

The Adrian & Marie Francoise Randag
Bequest
Notes to the Financial Statements - continued
for the Year EDded 31 July 2025
io.
OTHER FINANCIAL COMMITMENTS
At 31 July 2025 the total of other financial commitments amounted to £435,795. This relates to future fees for
existing Randag Fellows and includes an allowance for potential discounts and inflationary increases.
ii.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 Juty 2025
12.
PUBLIC BENEFIT ENTITY
The Adrian and Marie Fran¢ois¢ Randag Bequest is a public benefit entity.
Page 13

The Adrlan & Marie Franeoise Randag
Bequest
Detalled Statement of Financial Activities
for the Year Ended 31 July 2025
31.7.25
31.7.24
INCOME AND ENDOWMENTS
Donatlons and legacles
Legaci¢s
6,000
Investment income
Dividends
Interest
92226
9,980
114,357
6.636
102,206
120,993
Total Ineorning resources
102,206
126,993
EXPENDITURE
Investment management costs
Portfolio management
52,644
37,274
Charitable activitles
Sundries
Grants to institutions
560
230,741
1,253
201,390
231,301
202,643
Support Costs
Finance
Bank charges
104
Governanee costs
Accountancy
Legal and professional fees
2,848
940
2,620
3,788
2,620
Total resources expended
287,733
242,641
Net expenditure
(185,527)
(115,648)
This page does not forni part of the statutory fllwicial statements
Page 14