2024-03-31-accounts

Annual report 2023/2024

Annual Report Ida Davis Family Foundation Ida Davis Family Foundation Annual Report and Financial Statements for the year ended 31 March 2024

Registered Charity Number 1175286 [e-mail]

Ida Davis Family Foundation Annual Report and Financial Statements for

the year ended 31 March 2024

Contents

Report of the Trustees

Independent Examiners Report Statement of Financial Activities

Balance Sheet

Notes to the Financial Statements Detailed Statement of Financial Activities

Trustees

Kenneth Davis (Chairman) Robert Cammidge Adrian Cammidge

Registered Ofce

178 Eastern Esplanade, Thorpe Bay, Southend -on -Sea, Essex, SS1 3AA

Registered Charity Number 1175286

Accountants

Segrave & Partners LLP Chartered Accountants Turnpike House 1208/1210 London Road Leigh on Sea Essex SS9 2UA

Bankers

Barclays Bank Po Box 13 63-65 High Street Rayleigh Essex SS6 7EL

Solicitors

Wilsons, Alexandra House, St. Johns Street Salisbury, SP1 25B

Investment Advisors

Cazenove Capital, Schroder Limited,1 London Wall Place London EC2Y SAU

Ida Davis Family Foundation

Report of the Trustees for the year ended 31 March 2024

Report of the Trustees

The Trustees present their report, together with the financial statements for the year ended 31[st] March 2024. The financial statements have been prepared in accordance with the Charities Act 2011 and the Accounting and Reporting of Charities Statement of Recommended Practice (Charities SORP (FRS 102)).

The Trustees have had regard to the Charity Commission’s guidance on Public Benefit.

Structure, Governance and Management

The Ida Davis Family Foundation was registered as a CIO on October 20[th] , 2017. The governing document is the Foundation Constitution.

At the Trustees meetings, held physically and electronically in 2023/2024, the Trustees discussed the performance of the financial adviser, the accounts and banking and reviewed grant proposals, grant results, due diligence, and future strategies.

Trustees

The Trustees who served throughout the year were:

Kenneth Davis

Robert Cammidge Adrian Cammidge

Objectives and Activities

The objects of the Foundation as laid out in the CIO Constitution, are to alleviate poverty, to advance education, to relieve sickness and to promote health and to preserve and protect the natural environment at home and abroad. As a grant making charity, the Constitution also provides for general charitable purposes for Public Benefit.

Our objective is philanthropic with special emphasis on providing grants for projects that have measurable end result benefits – “teaching how to fish” rather than “forever” consumption charities. These included providing training and education which will promote poverty alleviation and better health outcomes and projects that advance and protect the natural environment, improving sustainability, reducing the impact of climate change, and ensuring local community participation.

Our perspective is international, and our charitable goals are pursued across a range of countries as well as in the UK. We have a special focus on low and middle-income developing countries, where needs continue to grow.

Inexperience, failures of governance and corruption in many developing countries could impede the successful implementation of some projects. For this reason, the Foundation operates by providing grants to UK based charities which have the experience, staff, oversight, and infrastructure to ensure the goals of the projects are met. In addition, the Foundation provides follow-up due diligence to ensure our funds fulfill their purpose.

The Foundation is committed to providing support and multi-year grants to meet the needs of the charity grantees that we serve.

The Foundation continued to expand in the Fiscal year 2023/2024. The negative effects of the Covid pandemic experience in the previous year largely fell away. There continued to be some project delays and some reduction in the numbers of projects in Africa and Asia seeking support. However, the Foundation and charities adapted to the challenges and regained momentum. Some negative outcomes, particularly in farming projects in Africa.

A benefit of the Covid pandemic had been the development of new techniques, particularly in communications. For example, grantees were supplied mobile phones, and communication and training were managed by regular WhatsApp calls. More communications were completed electronically rather than in person and the frequency of communication increased.

The major negative in 2023 was inflation and the rise in interest rates. The negative economic effects of the Russia-Ukraine war have been severe internationally. Inflation and the cost of living soared. Prices, particularly of food and energy, increased significantly. This caused major distress in Africa and Asia and stretched budgets in the UK. Grant applications reflect the higher cost of living.

Later in the year, the war in Gaza has caused shipping difficulties and had a negative impact on food supplies and prices.

The other major overall negative factor was the impact of climate change. This continued to be a major consideration in Foundation activities. Public awareness of the impact that industrial, commercial and population growth has had on nature and the environment has become more and more evident. Local needs and opportunities became clearer as the impacts of climate change on people, fauna and flora grew in frequency and dimension. The spectrum included droughts and floods and record high temperatures. The Foundation has actively sought projects and organizations we could support that would improve the longterm health of wildlife and nature.

In 2023-2024 the geographic focus of the Foundation’s activities continued to give emphasis to the UK as well as Africa and Asia. The UK economy progressed sooner than developing countries thanks to aggressive government economic support, a superior health system and greater affluence. As a result, the Foundation focused on new UK projects that could be implemented immediately. We also examined land purchases but were deterred by the inflated prices.

In Africa (particularly Sierra Leone), we continued to focus on projects administered by organisations who had proven success. We continue to work on projects internationally in Indonesia with Fauna and Flora and the Rainforest Trust and in Mauritius with Mauritius Wildlife Foundation.

Since inception, the philosophy of the Foundation has been to support projects which have measurable results, where the focus is on solutions and sustainability rather than consumption or operational costs. We do not generally support emergencies, illness, or projects with no defined end. With this in mind, we had previously discontinued support for an African AIDS charity where results after several years were discouraging. Similarly, we switched support again in Africa,

from an on-going, “forever” feeding program to a school start up. While the hope and promise was for sustainability, the financial results were sadly not successful.

We continued to learn in 2023/2024. Working with the larger, well-established charity organisations gave us excellent examples of professionalism, good governance and the diligence and attention to detail of well-structured grant applications. We will continue to seek long-term relationships with these organisations.

We had hoped that we would share project information and reviews on the Indonesia project, and we hoped for a major learning experience. Unfortunately, sharing has been very limited and restricted. A disappointing learning experience.

In this regard, we have introduced new contracts on finalizing Grant Approvals which make clear what reports and communications are required.

Overall, the Foundation made good progress as we gained experience and confidence. Grant giving activities were maintained at a high level. Total funds distributed amounted to £214,498. We are better prepared and are optimistic and confident that we are now able to grow the size and scale of our donations and expand the size and number of charitable organisations that we will invite to apply for grants.

The activities of the Foundation are focused in two major areas: poverty reduction and nature conservation and regeneration. In 2023/2024 we continued our activities to alleviate poverty. Plus, we significantly expanded our activities to promote the conservation of wildlife, endemic forests, and re-wilding, and introduced key elements in these programs to provide community employment and economic benefit.

Specifically, to alleviate poverty, we expanded our grants to women’s groups in Sierre Leone and increased the number of villages included in our program. In Uganda, we supported two additional Bees Abroad programs working with women’s groups.

We were particularly active in nature and ecological projects. We expanded our grants to re-wilding and nature regeneration projects in the UK, working closely with RSPB on a very successful project in Yorkshire. Also working with RSPB, we continued to support the promotion of community participation in the Land Trust/Bug Life project on Canvey Island – the largest invertebrate project in the United Kingdom. We continued to support the 5-year programme in Indonesia with Fauna and Flora in partnership with the Rainforest Trust, one of the largest conservation charities in the USA. We worked together with the Mauritius Wildlife Foundation to find and purchase land for a new endemic forest.

The key features of these activities are covered individually in Highlights.

Financially the year reversed the previous year’s decline from a financial standpoint. Our investments with Cazenove again showed growth of 10.8% combined with stability. The negative effects of the war in Ukraine on world markets were absorbed in stock pricing. The conservative investment strategy of Cazenove continued to perform well for the Foundation.

Grant Making Policy

The Trustees identify registered charities that align with the purposes and objectives of the CIO, conduct due diligence to ensure the suitability of the charity as a recipient of funding and invite grant applications as and when the Trustees identify suitable projects they wish to support. The majority of grants are made to charities registered in England and Wales.

Applications for all grants are made by invitation only. Those organisations that are invited to apply must use the Foundation guidelines or form formats.

The preference of the Trustees is to award grants as restricted funds for specific projects where results can be identified and measured, rather than as a contribution to general funding. The Trustees consider both one-off grants and multi-year funding. Projects they wish to support are identified by the Trustees on their own research and investigations and personal knowledge of the area of benefit of the charity. Requirements for reporting back to the Foundation will vary depending on the amount of the grant.

Grants Awarded in 2023/2024

Rory’s Well	Sierra Leone	£ 33,305
RSPB	UK	£199,000
Bees Abroad (Road Barrier)	Uganda		£
3,357
Bees Abroad (Ticode)	Uganda		£
5,336
		______
	Total	£240,998

In addition, the Foundation had made a grant to Fauna and Flora in the previous year for a 5-year project

Fauna and Flora Indonesia £250,000

HIGHLIGHTS

Bees Abroad

~~-~~ The Foundation supported two additional beekeeping projects in Uganda, Ticode and Road Barrier. Results in the first year are mixed.

TICODE – of the 40 hives provided in mid-2023, thirty-five were colonised with bees at the time of the last report in November 2023. That is an encouraging result and means we will fund, as planned, 50 more hives to be ready to start colonisation during the next dry season which starts in June. We expect new colonies to take at least the rest of 2024 to develop to a size where they produce a harvestable honey surplus.

Unfortunately, the group is based in an area against which the UK Government now advises travel due to terrorist activity from DRC. So, whilst there was a

possibility of a visit by a Bees Abroad volunteer in February, it could not take place.

ROAD BARRIER – of the 15 hives provided in mid-2023, five were colonised with bees at the time of the last report by the delivery partner in January 2023. However, the group had made ten hives of poor quality before the project started of which 7 are now colonised. Bees Abroad are working with them to improve colonisation.

The delivery partner reports that participants remain motivated and are applying the lessons of their training. The younger widows are doing most of the physical work which is to be expected. Regular monitoring visits will continue with the aim of developing the practical skills of the group.

We expect new colonies to take at least the rest of 2024 to develop to a size where they produce a harvestable honey surplus, although one exceptional colony was harvested in 2023. During this rather long period before they get a return for their efforts, project participants often lose some motivation.

The group are based close to Kasese town and a Bees Abroad volunteer visited in December as part of his African beekeeping familiarisation programme.

Rory’s Well (Sierra Leone)

We are delighted at the progress in Sierra Leone. The project works with women’s groups in the villages to improve harvests of rice and replace Slash and Burn destructive agriculture with a new yield-increasing method of Inga Alley Farming. Starting with a demonstration village, the results have been excellent, and we have now supported the expansion to 25 villages. We believe Inga may represent a breakthrough farming method which is scalable in Africa.

To illustrate the success of the project, we are showing below excerpts from the past Progress Report for this period.

The rice harvest figures show that Konia had the best return for rice planted with a total harvest of 27 bushels. This was achieved by both planting in the community swamp farm and lending some rice to individual farmers to plant on their own swamp farms. The loan is returned with interest after the harvest and added to the total harvest (in this case, raising the total from 24 to 27 bushels). This seems to be a common practice and helps to ensure that both individuals and the community have enough seed rice for the next year. Steven has recommended that we expand the swamp at Konia so this will be our pilot site. We anticipate that all these farms should be able to grow rice without seed from Rory’s Well, this year.

The spreadsheet also shows groundnut harvests in the women’s farms. The situation is more complex here as they can get two harvests per year. This is particularly important at this time of inflation as the women can feed their families and sell any surplus nuts at an increased price. Six of these villages took part in the groundnut loan scheme. We are very encouraged that all except one village have saved groundnuts to plant next year. We hope that this will help

them improve self sufficiency by replanting the saved seed in March and lending seed to individuals who return it with interest after the second harvest. When I spoke to people in the villages, I was very pleased to hear how much this had helped them during 2023. We will monitor the situation this year and hope to be able to tell you that these women’s farms continue to grow groundnuts, without seed input from Rory’s Well, in 2024

Demonstration Farm, Inga in private farms and future plans

We were very pleased that the maize harvest in the demonstration farm’s mature Inga alleys was six times that in the normal farming plot this year. Steven also experimented with upland rice in the alleys and got twice the harvest that the normal farming plot. This is really encouraging, and we are looking forward to planting crops in the five new alleys (including Jewoma) in May 2024.

We are already getting enquiries from local people wanting to plant Inga on their own farms which is an essential next stage if Inga agroforestry is to become sustainable. Initial support for this is discussed in Nick’s report. Excitingly, we have also had our first request from a commercial farm outside our area. This has come from Paul McNamara whom we met at Njala University a few years ago, and who brought a group of students to look around the demonstration farm last January. He is a Professor at Illinois University, visiting Professor at Njala and has a commercial farm in Kailahun where he would like to introduce Inga.

We are also now signed up to a joint EU/African study of Agroforestry across Africa. Their funding is not yet confirmed, but if all goes well this could be a really important collaboration and contribute massively to increasing the sustainability of Inga agroforestry as a potential technique for use across Africa.

Fauna and Flora – Indonesia

The Foundation is supporting a new, five year $5.4m project to protect Indonesian forests by expanding the area officially designated for conservation management in Indonesia’s biodiversity hotspots. The locations are alongside current officially designated areas, so the project expands the connected area in which wildlife and habitats are protected. We are working with communities in five landscapes to designate 307,836ha as new protected areas:

Ulu Masen Forest Landscape ( Aceh Province ),

Kerinci Seblat Rainforest ( Jambi, West Sumatra, Bengkulu ),

Schwaner Mountain Range ( West Kalimantan ),

Gandang Dewata Wallacea Forest ( South Sulawesi ),

Papua Bird’s Head Peninsula ( West Papua )

The project is needed since Indonesia is one of the most biodiverse countries in the world and is a priority for conservation. The project will work in forested lands with high conservation values that do not have conservation protection. Despite having the fourth largest population in the world, Indonesia is the most heavily forested place after the Amazon and is home to roughly 11% of the world's flowering plants, 13% of its mammals – including 46 primate species – 6% of its amphibians, 7% of its reptiles, 16% of its birds and 14% of its fish. The

project areas are home to a wide range of threatened species: 17 Critically Endangered species including the Sumatran elephant; Sumatran tiger, Bornean orangutan; yellow-crested cockatoo and Western long-beaked echidna.

The project areas are forested lands with high conservation values that do not have conservation management in place. Project areas are either surrounding adjacent or connecting to the existing conservation areas; each will extend the connected area in which wildlife and habitats are protected. Working with local communities, the projects will create five new protected areas covering 307,836ha (almost the size of Gloucestershire) adding to adjacent protected areas of over 330,000ha. The long-term impact will be that the five new areas are designated with protected status, management plans are implemented and monitored, and a long-term finance model is developed and pilot-tested.

This is a 5-year program. Initial energies have been applied to obtain government and community buy-in. the Indonesian government is extremely sensitive to outside influences. This means that progress is slowed to obtain formal approvals, Gazetting and Government decrees. As government approvals are obtained, we look forward to acceleration of implementation of FFI/Rainforest programs in the assigned areas.

RSPB - ~~U~~ K

The Foundation has supported 2 key ~~R~~ SPB projects in the UK- Blacktoft Sands and Canvey Wick. The Blacktoft Sands project is almost complete and we are delighted at this successful project. Working on land newly acquired by RSPB at the Humber Estuary, the project is to restore 40 hectares of conservation habitat. It includes coastal wet grassland with shallow lagoons and seasonal pools adjacent to the river Trent, providing high quality feeding and roosting sites for the Humber's wide array of waterbirds. In the second year, fencing is being installed to reduce disturbance to the many birds which seek refuge here and on the SSSI mudflats. Already the project has exceeded expectations and the numbers of incoming birds has been a delight.

The Foundation has supported the employment of a community development officer at Canvey Wick in Essex. Canvey Wick is still under development as one of Britain's largest reserves for invertebrates. The main project run by Bug Life and RSPB is progressing steadily. The Community Development manager is successfully engaging activities, slowly building community support for the project.

Mauritius Wildlife Foundation -Mauritius

The Foundation agreed to work with the Mauritius Wildlife Foundation to purchase a plot of land to the value of 20,000,000 rupees for the development of an endemic forest. Progress has been slow in finding and purchasing suitable land. A Trustee of the Ida Davis Family Foundation has examined, with the MWF, a number of properties that might be acquired. Unfortunately, it has been difficult, despite several attempts, to purchase suitable forest lands. MWF have identified a suitable area near Chamarel and are currently seeking additional funding to meet the purchase price.

Meeting Facilities

The Trustees are very grateful for the use of meeting facilities and office support, which is provided, at no cost, by the Camelia Hotel in Thorpe Bay, Essex. The financial statements do not provide for this benefit.

Volunteers

The Trustees are very grateful for the administrative and secretarial support provided by Jenny Hall. The financial statements do not provide for this benefit

REGISTERED CHARITY NUMBER: 1175286

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

IDA DAVIS FAMILY FOUNDATION

Segrave & Partners LLP Chartered Accountants Turnpike House 1208/1210 London Road Leigh on Sea Essex SS9 2UA

IDA DAVIS FAMILY FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

		Page
Report of the Trustees		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Balance Sheet		4
Notes to the Financial Statements	5	to	6
Detailed Statement of Financial Activities		7

IDA DAVIS FAMILY FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the CIO are:-

(1) To alleviate poverty.

(2) To advance education.

(3) To relieve sickness and to promote health.

(4) To preserve and protect the natural environment.

(5) To advance, promote or carry out such other charitable purposes as the charity trustees in their absolute discretion from time to time think fit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Ida Davis Family Foundation was registered as a CIO on 20th October 2017. The governing document is the Foundation Constitution.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1175286

Principal address

178 Eastern Esplanade Thorpe Bay Southend on Sea Essex SS1 3AA

Trustees

A Cammidge K Davis R M Cammidge

Independent Examiner

Segrave & Partners LLP Chartered Accountants Turnpike House 1208/1210 London Road Leigh on Sea Essex SS9 2UA

Approved by order of the board of trustees on 21 August 2024 and signed on its behalf by:

R M Cammidge - Trustee

Page 1

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IDA DAVIS FAMILY FOUNDATION

Independent examiner's report to the trustees of IDA Davis Family Foundation

I report to the charity trustees on my examination of the accounts of IDA Davis Family Foundation (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are 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 carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair 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 connection 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.

Alan David Pateman FCA FCCA

Segrave & Partners LLP Chartered Accountants Turnpike House 1208/1210 London Road Leigh on Sea Essex SS9 2UA

21 August 2024

Page 2

IDA DAVIS FAMILY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Bees Abroad Rory's Well RSPB Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 30,632 8,693 33,305 199,000 4,088 245,086 614,978 400,524 8,060,742 8,461,266

The notes form part of these financial statements

Page 3

IDA DAVIS FAMILY FOUNDATION

BALANCE SHEET

31 MARCH 2024

Notes CURRENT ASSETS Investments 4 Cash at bank CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 6 Unrestricted funds TOTAL FUNDS	Unrestricted fund £ 6,374,805 2,087,961 8,462,766 (1,500) 8,461,266 8,461,266 8,461,266 8,461,266 8,461,266

The financial statements were approved by the Board of Trustees and authorised for issue on 21 August 2024 and were signed on its behalf by:

A Cammidge - Trustee

R M Cammidge - Trustee

K Davis - Trustee

The notes form part of these financial statements

Page 4

IDA DAVIS FAMILY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

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 within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

INVESTMENT INCOME
	£
Deposit account interest	30,632

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024.

Trustees' expenses

Trustees' expenses
	£
Trustees' expenses	2,315

Page 5

continued...

IDA DAVIS FAMILY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

4. CURRENT ASSET INVESTMENTS

CURRENT ASSET INVESTMENTS
	£
Investment portfolio	6,374,805

The funds are held in a Charity Multi-Asset Fund managed by Cazenove Capital.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors

£ 1,500

6. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS	follows: Incoming resources £ 30,632 30,632	At 1.4.23 £ 8,060,742 8,060,742 Resources expended £ (245,086) (245,086)		Net movement in funds £ 400,524 400,524 Gains and losses £ 614,978 614,978	At 31.3.24 £ 8,461,266 8,461,266 Movement in funds £ 400,524 400,524

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 6

IDA DAVIS FAMILY FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 INCOME AND ENDOWMENTS Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Management General support costs Finance Bank charges Information technology Website costs Governance costs Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on investment portfolio Net income

£ 30,632 30,632 240,998 2,315 102 171 1,500 245,086 (214,454) 614,978 400,524

This page does not form part of the statutory financial statements

Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IDA DAVIS FAMILY FOUNDATION

Independent examiner's report to the trustees of IDA Davis Family Foundation

I report to the charity trustees on my examination of the accounts of IDA Davis Family Foundation (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are 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 carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair 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 connection 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.

Alan David Pateman FCA FCCA

Segrave & Partners LLP Chartered Accountants Turnpike House 1208/1210 London Road Leigh on Sea Essex SS9 2UA

21 August 2024

Page 2