Charity number: 1171136 THE WOOSNAM FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE WOOSNAM FOUNDATION CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees, report Trustees, responsibilities ststement Independent auditors. report on the financial statements ststement of financial activities 10 Balance sheet Notes to the financial statements 13-22
THE WOOSNAM FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees M.S. Feldman, Trustee l. Buman, Trustee Charlty reglstered number 1171136 Registered office Penthouse 2 Mount Tyndal Spaniards Road London NW3 7JH Investment Advlsors Canaccord Genuity Wealth Management 9th Floor 88 Wood Street London EC2V 7QR Audltor Zaev Leonard Harris & Trotter LLP Chartered Accountants & Statutory Auditors 101 New Cavendish Street 1 st Floor South London W1W6XH Bankers C. Hoare & Co 37 Fleet Street London EC4N SAT Sollcltors Laytons Solicitors LLP Yarnwicke 119-121 Cannon Street London EC4N SAT Page 1
THE WOOSNAM FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their annual report together with the audited financial statements of the Charity for the year ended 31 December 2025. Objectives and actlvltles a. Pollcles and objectives The charty's objectives are to further such exclusively charitable purposes calculated to promote the advancement of research and education for public benefit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefrt, including the guidance 'Public benefit: running a charty (PB2)'. b. Actlvltles undertaken to achleve objectlves The charity achieves its objectives by making grants. Details of these can be found in note 5 to the accounts which contains a list of projects supported. c. Grant•maklng pollcles Grant applications are considered at trustee meetings. As well as assessing the merits of the applicants, proposals and the congruence with the charity's aims and priorities, appraisal criteria include: The anticipated outcome of the project including public benefit Financial viability Value for money Adequate provision for ongoing costs and maintenance. d. Maln actlvities undertaken to further the Charity's purposes for the public benefit The trustees hold a diverse investment portfolio which is managed by Canaccord Genuity Wealth Management. Income and gains from these investments is used to fund the charity's grant-making activities. Achlevements and perforniance a. Key perfomiance indicators The charity's key performance indicator is to maintain its level of net assets. The trustees accept that this will not be possible each year due to fluctuations in investment values. b. Review of actlvltles The charity received investment income totalling £90,868 (2024: £89,306) during the year. Donations of £495,907 (2024: £Nil) were received & Grants of £202,850 (2024: £148,000) were made as detailed in note 7 to the financial statements. Page 2
THE WOOSNAM FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Achievements and performance (continued) c. Investment pollcy and performance During the year the portfolio's realised & unrealised net gains amounted to £258,810 (2024: £193,319). The market value of the portfolio at the balance sheet date was £3,685,393 (2024: £3,057,684). Flnancial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves policy Tolal reserves increased by £553,681 (2024: £40,566) to £3,974,830 (2024: £3,421,149). It is the policy of the charity that reserves should be held at a level that allows the current level of grants awarded to increase in line with inflation. To this end the trustees intend to increase the reserves of the charity each year, however this is not always possible due to fluctuations in investment values. c. Material investments policy The trustees do not permit investments in companies engaged in manufacturing tobacco products or amiaments. d. Principal rlsks and uncertainties The charity has no operational risks. Its risks are related to investment strategy and it guards against those risks by delegating decisions to its investment managers. The trustees are confident that they have a reasonable diversification of investments as a result providing some protection against risk. e. Flnancial performance During the year, the charity had total income of £586,775 (2024: £89,306) and total expenditure of £291,904 (2024: £242,059), with net gains on investments and investment property amounting to £258,810 (2024: £193,319). Structure, governance and management . Constltution The Woosnam Foundation is registered charity, number 1171136, and is constituted under a Trust deed. Page 3
THE WOOSNAM FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Structure, governance and management (continued) b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co~opted under the terms of the Trust deed. c. Organisational structure and decision•making policies The trustees meet several times each year. The primary areas of discussion are grant making and investment performance. d. Related party relationships Related party relationships exists through Laytons LLP (l Burman) and Micfel Associates Limited (M S Feldman). l Bunnan and M S Feldman are trustees of the charity. Plans for future periods The trustees intend to launch a number of new grant-making initiatives during the year. Dlsclosure of inforniatlon to auditors Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit infomiation and to establish that the charity's auditors are aware of that information. Audltorn The auditors, Harris & Trotter LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: M.S. Feldman Date: 21 Page 4
THE WOOSNAM FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law requires the Trustees to prepare financial statements for each financial year. Under the law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by: . Feldman Page 5
THE WOOSNAM FOUNDATION INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE WOOSNAM FOUNDATION Oplnion We have audited the financial statements of The Woosnam Foundation (the 'charity') for the year ended 31 December 2025 which comprise the Statement of financial activities, the Balance sheet, and the related notes, including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon 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 United Kingdom, including the Financial Reporting Council'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 golng 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 concem 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. Page 6
THE WOOSNAM FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOOSNAM FOUNDATION (CONTINUED) Other Inforniatlon The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. Our responsibility is to read the other infonnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 Reports) Regulations 2008 requires us to report to you if, in our opinion: the infomation given in the Trustees, report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial ststements are not in agreement with the accounting records and returns; or we have not received all the infonnation and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Trustees, Responsibilities Statement, 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 detemiine 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 concem, disclosing, as applicable, matters related to going concern and using the going concem 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. Page 7
THE WOOSNAM FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOOSNAM FOUNDATION (CONTINUED) Audltors. responslblllties for the audit of the financial statements We have been appointed as auditor 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 an Auditors, report 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 rf, 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error, and to respond appropriately to those risks. Owing to the inherent limitstions of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and perfonned in accordance with the ISAS (UK). In Klentifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, our procedures included the following: We obtained an understanding of the legal and regulatory frameworks applicable to the Charity and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102. We obtained an understanding of how the Charity is complying with those legal and regulatory frameworks by making enquiries of management. • We challenged assumptions and judgements made by management in its significant accounting estimates. We did not identrfy any key audit matters relating to irregularities, including fraud. 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.or .uklauditorsres onsibilities. This description forms part of our Auditors, report. Page 8
THE WOOSNAM FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOOSNAM FOUNDATION (CONTINUED) 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 charty and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. Zaev Leonard (Senlor Statutory Auditor) For and on behalf of Harris & Trotter LLP Chartered Accountants & Statutory Auditors 101 New Cavendish Street First Floor South London W1W6XH Date: Harris & Trotter LLP are eligible to act as auditors under the Charities Act 2011 Page 9
THE WOOSNAM FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Investments 495,907 90,868 495,907 90,868 89,306 Totsl Income 586,775 586,775 89, 306 Expenditure on: Raising funds Charitable activities 36,715 255,189 36,715 255,189 37,470 204,589 Totsl expenditure 291.904 291,904 242, 059 Net Incomel(expenditure) before net gains on Investments Net gains on investments 294,871 258,810 294,871 258,810 (152, 753) 193,319 Net movement In funds 553,681 553,681 40,566 Reconciliation of funds: Total funds brought fOard Net movement in funds 3,421,149 553,681 3,421,149 553,681 3, 380, 583 40,566 Total funds carrled forward 3,974,830 3,974,830 3,421, 149 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 22 form part of these financial statements. Page 10
THE WOOSNAM FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note Flxed assets Investments Investment property 10 3,685,392 403,000 3, 057, 684 403, 000 4,088,392 3, 460, 684 Current assets Cash at bank and in hand 59,609 53,426 59,609 53,426 Current Ilabilities Creditors: amounts falling due within one year 11 (98,171) (59, 629) Net current Ilabilities (38,562) (6, 203) Total assets less current liabilities 4,049,830 3,454,481 Creditors: amounts falling due after more than one year 12 (75,000) (33,332) Net assets excluding penslon asset 3,974,830 3,421, 149 Total net assets 3,974,830 3,421, 149 Charity funds Restricted funds Unrestricted funds 14 14 3,974,830 3,421, 149 Total funds 3,974,830 3,421, 149 Page11
THE WOOSNAM FOUNDATION BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 An audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the Charty regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: .S. Feldman Date: The notes on pages 13 to 22 form part of these financial statements. Page 12
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 General Infonnation The Woosnam Foundation is a registered charity, number 1171136 and is constituted under a Trust Accountlng policies 2.1 Basls of preparation of flnancial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Woosnam Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern Based on their assessment of the twelve months from the date on which the balance sheet was signed, the Trustees are of the opinion that the charity is a going concern as the charity holds significant cash reserves and the accounts have therefore been prepared on the going concern basis. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 13
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policles (continued) 2.4 Expendlture Expenditure is CogniSed once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directty to that activty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitsble purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charty's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the Statement of financial activities. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 14
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcies (continued) 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.9 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricte d funds 2025 Total funds 2025 Total funds 2024 Donations 495,907 495,907 Page 15
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Investment income Unrestricte d funds 2025 Total funds 2025 Investment income - local investment properties Income from listed investments - Dividends Investment income - Interest 22,001 68,655 212 22,001 68,655 212 90,868 90,868 Unrestricted funds 2024 Total funds 2024 Investment income - k)cal investment properties Income from listed investments - Dividends Investment income - Interest 22,000 65, 558 1, 748 22, 000 65, 558 1, 748 89,306 89,306 Analysls of grants Grants to Institutions 2025 Total funds 2025 Grants - advancement of research & education 202,850 202,850 Grants to Institutions 2024 Total funds 2024 Grants - advancement of research & education 148,000 148,000 The Charty has made the following material grants to institutions during the year: Page 16
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Analysls of grants (continued) 2025 2024 Name of Institution CST Make a Wish UCH Stroke Nordoff Robbins Universty of Manchester Chai Cancer 15,000 5,000 150,000 10,000 2, 000 100, 000 25,000 10,000 180,000 137,000 9 grants of less than £5,000 (2024 - 4) 22,850 11,000 202,850 148,000 Analysis of expendlture on charitable activities Summary by fund type Unrestricte d funds 2025 Total 2025 Support costs Grants - advancement of research & education 52,339 202,850 52,339 202.850 255,189 255,189 Unrestricted funds 2024 Total 2024 Support costs Grants - advancement of research & education 56,589 148,000 56,589 148,000 204, 589 204, 589 Page 17
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Analysis of expenditure by activities Grant funding of activities 2025 Support costs 2025 Total funds 2025 Support costs Advancement of research & education 52,339 52,339 202,850 202,850 202,850 52,339 255.189 Grant funding ol activities 2024 Support costs 2024 Total funds 2024 Support costs Advancement of research & education 56,589 56,589 148,000 148,000 148,000 56,589 204, 589 Auditors. remuneratlon The auditors, remuneration amounts to an auditor fee of £12,560 (2024 - £10, 560). Page 18
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Investment property Freehold investment property Valuation At 1 January 2025 403,000 At 31 December 2025 403,000 The valuation in the prior year was carried out by Drivers & Norris, Chartered Surveyors, acting as independent valuers. In the current year, the investment property valuation was obtained from an online portal. The trustees did not obtain a valuation from an independent valuer as they were of the opinion that the costs of doing so could not be justified. 10. Flxed asset investments Listed investments Cost or valuation At 1 January 2025 Additions Disposals Revaluations 3,057,684 1,711,658 (1,264,015) 180,065 At 31 December 2025 3,685,393 Net book value At 31 December 2025 3,685,393 At 31 December 2024 3, 057, 684 Page 19
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. Credltors: Amounts falling due within one year 2025 2024 Accruals and deferred income Grants accrued - institutional 27,338 70,833 25,295 34,334 98,171 59, 629 12. Credltors: Amounts falling due after more than one year 2025 2024 Accrued grants payable to institutions 75,000 33, 332 13. Financlal Instruments 2025 2024 Flnanclal assets Financial assets measured at fair value through income and expenditure 3,685,393 3,057, 684 Financial assets measured at fair value through income and expenditure comprise the charity's investment portfolio. Page 20
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Statement of funds ststement of funds - current year Balance at 31 Gainsl December (Losses) 2025 Balance at 1 January 2025 Income Expenditure Unrestrlcted funds Reserves 3,421,149 586,775 (291,904) 258,810 3,974,830 Statement of funds - prior year Balance at 31 December 2024 Balance at l January 2024 Gains/ (Losses) Income Expenditure Unrestricted funds General Funds - all funds 3,380, 583 94, 133 (242, 059) 188,492 3,421, 149 15. Summary of funds Summary of funds - current year Balance at 31 Gainsl December (Losses) 2025 Balance at 1 January 2025 Income Expenditure General funds 3,421,149 586,775 (291,904) 258,810 3,974,830 Summary of funds - prlor year Balance at 31 December 2024 Balance at 1 January 2024 Gain (Losses) Income Expenditu General funds 3, 380, 583 94, 133 (242, 059) 188,492 3,421, 149 Page 21
THE WOOSNAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 16. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricte d funds 2025 Total funds 2025 Fixed asset investments Investment property Current assets Creditors due within one year Creditors due in more than one year 3,685,393 403,000 59,609 (98,171) (75,000) 3,685,393 403,000 59,609 (98,171) (75,000) Total 3,974,830 3,974,830 Analysls of net assets between funds - prlor year Unrestricted funds 2024 Total funds 2024 Fixed asset investments Investment propety Current assets Creditors due within one year Creditors due in more than one year 3,057, 684 403, 000 53,426 (59, 629) (33,332) 3, 057, 684 403, 000 53,426 (59, 629) (33,332) Totsl 3,421, 149 3,421, 149 17. Related party transactions Fees of £20,772 (2024: £24,224) were paid to Laytons LLP for work done by Mr. l. Burman. Fees of £17,960 (2024: £20,235) were paid to Micfel & Associates Limited for work done by Mr. M. S. Feldman. Page 22