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 fO￿ard
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