REGISTERED CHARITY NUMBER: 1180300 THE CHACEGROVE FAMILY FOUNDATIOIY ANNUAL REPORT AND FINANCL4L STATEMEiYTS FOR THE YEAR EPIDKD 31 i￿RcH 21125 HE HACE FAMILY FOUN ATI Contents oltbe FiDHntiAI St&tements for the Year Ended 31 March 2025 Page Ito2 Report of tbe Trustees Stst¢Enent of Trustees, Responsibilities Independent E￿￿￿￿¢r,$ Report Statement of FinaDcial Activities Baianee Shett Notes to the Financi81 Stst¢meTrts 7tolO THE CHACEGROVE FAMILY FOUNDATION Re rt of the Tru for the l'ear EDded 31 M*reh 2112 The I￿￿e$ present their allnual report and financial stat¢m¢nts for the year ended 31 March 2025. The financial 5tat¢m¢nts have been prepared in acconlance with the accounting ￿liCleS Set out iti note I to the fJn8nci81 statements and comply with the charity's gtsveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. St￿ement of Recommended Prdctice applicable to charities preporing their accounts in accordance with the Finan¢ial R¢porting Standard applicable in the UK arhd Republic of Ireland (FRS 102)" {effective l JanU￿Y 2019). OWECTIVES AND ACTIVITIES The charity's objects are for the public benefit to thance such exclusively charitable purposes 18 the ThLStees shall fmm time tt> time think fit. The rrfjlicies adopted in furtheraTrce of these objects are deterniin¢d by the Trnsl¢es and ￿Viewed nually. The Trusiees have paid due regard to guidance issued by th¢ Charity Commission in deciding what activities the charity should undertake. ACHIEVEMENT AND PERFORMAP4CE The Foundation has be¢n ¢reated with broadly defined pu]pose of supportin8 individuals and community-level initiative5 in tsckling the challen8¢s of ¢limat¢ change and sustainable land use. The trustees are particularly interested in the sw>port of individuals who by way of edu¢alion, training and iniliative are able ¢0 make a positive impact on the world in our fjelds of interest. Over the last five years the trustee5 have. by way of funding from the founder of the fund, built an ¢ndowment that now ¢nables us to sd about these cballenge5 with the c¢rtAinty to fund projects that may ov¢r multiple years. Initial grants were at Jnod¢st leve15 as the tfU5tees build their ¢xp¢rien¢e in this field. lo ensur¢ fun(ts ar¢ us¢d wisely. Costs ar¢ kw to the absolute Minimum and th¢ trwstees take no rernunerdtion in keeping with tbe charitable aims and commitments of the trustees. The outgoing expenses met by the foundation are essentially the running ¢os15 of preparing counts aTLd annual r¢turns, of prudent investmenl manogement and of IT sUPPOrt, ￿gether with (Kcasionai and modest out- of-pocket costs of appraising grant opportunities. Over the IL8t yw the ￿nd has continued or commenced its supwrt for four projects. which colle¢liv¢ly h&ve increas¢d the scale o(the funding w¢ pn)vide.' An annual university bursary to widening-access students working on climate change. A partnership with the Apricot Centre in Devon, a Community Inter¢st Company which provides training to people of all age$ luraged to attend. The Trnstees have assr5%d the tnajor risk5 to which th¢ ¢haTity is exposed and are satisfied sys*ms are ill pl&e to mitigat¢ exposure kn the major risks. None ofth¢ Trus*es hasany beneficia] interest inth¢¢ompany. All ofthe Trustee5 are m¢mbers ofthe company and 8uaTante¢ to cotJiribut¢ £1 in the event of a windin8 UP. The Trustees, report was approv¢d by the Board of TrLEStees Jcox Trust¢¢ 2 December 202S Page 2 THE CHACEGROVE FAMILY FOUIYDATION Ststement ofthe Trn¥tee$' Re5 D5ibililies for the Yesr Ended 31 March 2025 The Tn]siees are resFK)nsible for pteparing th¢ Trusiees, Repirt and the fLTYdn¢ial stst¢ments in accordonce with applicabl¢ lttw artd United Kingdom Accounting StsndArds (Unit¢d Kill8dom Generally AcGq)t¢d Ac¢ounting Pra¢ti¢¢l. The law applicable io Chariii¢s in England and Wales requires the Trustee5 to pr￿are fLnan¢ial ststemet)ts for ea¢h fJnan¢iai y¢ar which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resourcts of the charity for that ycar. In p￿parIng th¢s¢ finaTh¢iai stat¢ments, th¢ Twstees w¢ required to.. s¢l¢cl suitabl¢ a¢¢ounting ￿11¢1¢$ and then apply th¢m consistently; obs¢TV¢ th¢ m¢thods and principles in the Charities SORP. mak¢ jud8em¢nt$ and estimat¢s that ar¢ r¢asonable at)d prudent. stst¢ wh¢ther applicable a¢counting standards have been followed. subjectto any material departures disclosed and explained ill the financial ststrmellts. and prepare the finoncia] $tat¢m¢nts on the going concem basis unle&s it 15 inappropriate to pr¢sum¢ that the Gharity will continue in operation. The Tntsttts are reS￿)nSIble for keeping $uffi¢ient a¢counting records that disclose with reasonable accurw at any time th¢ financial wsition of the charity and enable th¢tn ¢0 ensur¢ that the financial stat¢ments comply with the Charities Act 2011, the Charity (A¢¢ourtts artd Reportin81 RegUl￿10th$ 2008 and the provisions of the trnst deed. They are also responsible for Safeguarding lh¢ a￿1$ of the ch￿lty and hence for taking reasonable steps for the p￿VentIon and detection of fraud and other irregulariti¢s. Page 3 IDde *nd*nt ExAminer'8 Re )ort to the Trustees of Tbe ChAce rove Famil Foundation Indepelldellt exAminer'5 report ¢0 the trustees of The Ch•cegrov¢ Fgmily Foundation {'tbe CompaDy') I report to the charity twstees on my examination of the accounts of the Company for the year ended 31 March 2025. Respon5Tbilities a￿d ￿$15 of report As the charity's trust¢¢s of th¢ Company you are respollsible for the pr¢paration of the accowits in accordance with the requirements of the Charities Act 2011. Hawng s*isfied mys¢lf that the accounts of the Company are not required to be audit¢d under Part 16 of the 2006 Aci and are eligible for independent ¢XamiThatiO￿ I report in resped of my examination of yourcharity's accounts as carried out under se¢tion 145 of ihe Charities Act 2011 I'the 2011 Act'l. In carrying out my exatnination I have followed the D]r￿110n5 given by the Charity Commission under section 145(51 (b) of the 2011 Act. Jndependtnt ex*miDer s ststement I have wmpl¢ted my examinatLOD. I collfirm that no ￿￿￿eT& have cO￿e to my attention in cotmection with the examination giving me cause to believe.. accounting record5 were not kept in re$pect of th¢ Company &5 required by section 386 of th¢ 2(N)6 A¢( or the accounts do not accord with those records; or the a¢couni$ do not ¢omply with the aC￿U￿*1￿E requirrtnrnts of section 396 of the 2006 Act other than any requirement ihat the accounts give a true and fair view which is not a matter considered as part of an independent ¢xamination' or The accounts hAve not been prepared in a¢cordance with the methods and principles of the Ststement of Recommended Practice for aecoullting and reporting by ¢hwilies (applicable to chariiies preparing their accounts in accordance with ihe Financial Reporting Stsndard applicable in the UK and R￿UbliC of Ireland (FRS 102}). I have no concern5 and have com¢ across no other matters in Conn￿tiOn with ihe examination io which attention should be drawn in this rewirt in order to tnable a proper understandin8 of the accowit$ to b¢ r¢a¢hed. Stephen Wi150n FCCA Upton Wilson Ltd Chartered Certified Aecountants 3 West Streei Leighton Buzzard Bedfordshire LU7 IDA Date.. 2 December 2025 Page 4 THE CHACEGROVE FAMILY FOUNDATION Statement of Financial Actiiryties YID Inco￿¢ and Ex enditure A 31.03.25 Unr¢stri¢ted fvnds 31.03.24 Unrestricted fi￿d5 Notes IiYCOME FROM Inv¢50ncnt inwm¢ 51,345 52,653 Donations TotAI EXPENDITURE ON: Raising funds 12.286 9,356 Charitable actiYitLes 29.324 14,213 Totsl re8ouTtes exptnd¢d 41.610 23,$69 Net proflt I IIOs5e5) on investm¢Dts 46.l76 Il6,715 NET MOVEMEIYT IN Fur4iKs 55.911 145.799 Total (ullds brought forward 1.978,319 1.832.520 TOTAL FUNDS CARRIED FORWARD 2,034,230 1.978.319 The statement of fuwicial xtivities includes all gwns and losses recogrtised in the year. All income and expenditure derive from Continuing activities. The notes fom) part of these financial statements Pa8¢ 5 THE CHACEGROVE FAMILY FOUNDATION Balance Sbeet 31 MArch 21125 2025 2024 Notei FIXED Assrrs Investh)¢nts io 1,886J85 1.836.878 CURRENT ASSETS Debtors C&sh at bank and in hand 12 149,189 145,461 149,189 145,461 CREDITORS Amounts folling due within one year 13 (1.344) (4,020) IYET CURREIYT ASSETS 147,845 141.441 TOTAL A&SETS LESS CURRENf LIABIL￿lEs 2,034,230 1978,319 FUNDS Unrestrict￿ funds 2,034,230 ,978.319 TOTAL FUNDS 1034.230 1978,319 The finBncial stthments were opproved by the Tru5tee5 and authorised for issue on 2nd Dett￿bEr 2025 and wer¢ signed on its behalf by: Jcox Trustee The not¢s fomi part of these financia] statements Page 6 THE CHACEGROVE FAMILY FOUNDATION Note5 to the Firtgncigl Stitements ror the Y￿r Ended 31 M*reh 2025 I. ACCOUNfING POIJCIES ChArlty IDformg4tion Thc Chacegrove Family Foundation is a Charitsble inCor￿rated organisation r¢gi51ercd on 12 October 2018. Accounting eonventiOII The fi￿9￿cial statements have been prepared in accordall¢e with the Charity's governing do¢um¢nt, the Charili¢s Act 2011, FRS102 'Yhe Financia] Reporting Standard applicable in th¢ UK and Republic of Ireland" ("FRS102-) and the Charities SORP "Aceountin8 and Reporting by Charitie5'. Statement of Recommended P￿ts¢c applicable to Charities preparing their 2ccounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ir¢land (FRS 1021" l¢ff¢¢tiv¢ l January 2019). Th¢ ¢harity is a Publi¢ B¢nefit Entity as d¢fin¢d by FRSIO2. The charity has taken advanlageof the provisions in the SORP fordwities not topr¢pare a StAtementof CashFIows. The financial statements h8v¢d¢part¢d from the Chariiies (Account and Reptsrts) RegU1￿10nS 2008 onlyto the extent required to provide a true and fair view. This dewture has involved following the Stthem¢nl of Recommended Pra¢tic¢ for ¢horiiies applying FRS 102 rather than the version of th¢ Stal£m¢ni of R￿MMertded Practice which is referred to in the Rtgulation5 but which b&s since b¢¢n withdrawn. The financhal statements are pr¢par¢d ith st¢rlin& which is the funrtional currency of the Charity. Monetary atnounts in these financial staÈ¢m¢nts are rounded io the nearest £. The fLnatLcial statem¢nts hav¢ be¢n pr¢pared underthe historicaicost convention. Modifi￿t0 irt¢lude the revaluation of freehold propertie5 aThd to include investment properties attd ¢¢rtain fina￿cial in5trllm¢nts at fair value. The principal &countirt8 policies adopted are set out below. CoiDg eoneern At the time of approving the fman¢ial statements. the tnJste¢s have a reosonable expectation that the charty h adequate resources to eorttinue in operational existence forthe foreseeabl¢ fiJtur¢. Thus the trnstees ¢ontinu¢to adopt the going ¢oneern b&sis of xcounting in preparing the financial statements. Ch8rit¥bl¢ thnds Unr¢stria¢d funds are availthle for use at the dis¢r¢tion of the tsustee5 in furtherance of their charitsbl¢ objectives. Rc5trid¢d fvnds are subject to sp¢¢ifi¢ ¢omditions by donors &5 ￿ Iww they may be ￿5¢d. The Pu￿￿se8 and us¢s of the testricted funds are set out in the not¢s to the financia] statements. Endowmeni funds are subject to $pe¢ifi¢ wnditions by donors th* the capithl must be maintsin¢d by the charity. In¢ow¢ Incom¢ 1$ r¢cognised when the charity is legally entitled to it after any p¢rforniance conditions have beell m¢L th¢ amounts can b¢ mea5ur¢d reliably and Tt is probable that income will be rcreived. C*5h donations are recognised on receipt. Other donations ar¢ reco￿]Sed once the charity has been notified of the donatiotk, unless perforn]on¢e condiiions require defeTral of the amount. Incom¢ w recoyerable in relation to donations rtteivcd under Gift Aid or de¢ds of covetwt is reCo￿lSed at th¢ time of the donation. Legacies are recognised on receipt or othenyise if the ¢lMrity has been notified of an impending distribution, the a￿oll￿1 is known and receipt ts expected. If the amount is not known, the legacy is treated as a contiD8ent asset. Expenditure Expenditure i5recognis¢d on¢¢ihere 15 a legal orconstructive obligation totransfer rtonomi¢ benefitto aihird party, it 1$ probable that a transfer of econotnic benefits will be required in %ttlement and the amount of the obligation call be M￿Ured r¢liably. Expendi￿re 15 c1&55ified by activity. The costs of each activity are made up of the total direct costs snd shared costs, ineluding support ¢ost$ involved in undenaking ¢￿h activity. Dir¢¢i costs attributable to a single activity are all0¢￿ed dirttily to that artiviry. Shared c05t5 which ¢ontribut¢ to more than one activity and sllpport costs Page 7 THE CHACEGROVE FAMILY FOUNDATION Notes to the Fin8nei81 Ststement5- Colltinued for the Yegr Ended 31 March 2025 whi¢h ar¢ not athibutable to a single activity are apportiotled between those activities on a basis Consiste￿ with the use of resources. Centrdl staff costs are allo¢aied on th¢ b&8is of time spenL snd depreciation ehargts are allocated on the portion of the asset's use. Unrestricted fuNis are available for ￿￿e at the discretion of rhe irnstees in fwtherdnce of th¢kr tharitable obj¢¢tiv¢s. All Te50urres expended are recognised ott J)n a￿rualS b&sis. Expenditure Is recogni8ed once there is a legal or constructive obligation to make a payment to a third party. il is probable that sett]ement will be required and the amoutlt of the obligalion can be ￿e&Sured reliably. Fixtd asset inwesthieDts Fixed &sset investments are initially vÈlued measured at transaclion pric¢ ¢x¢luding transa¢tion costs and are subsequently M&￿ured at fair value at each reporting dat¢. Changes in fair value are recognksed in net income l{expenditurel for the year. Trdll5action costs are ¢xpens¢d as incurred. Cgsh gnd ¢4sh ¢q￿1VIlenls C&sh and cash equivalet)ts include cash in hand, d¢posits h¢ld at C￿1 with bank& other short-tern] liquid investments with original maturitle5 of three months or less and bank overdrafis. Bank overdrafts are $l￿wn whihin borrowings io ¢urr¢nt liabilities. Basic financial &8s¢ts, which include debtOT5 and e&sh and bank b￿￿￿¢¢$. are initia]ly mwured at transaction ptire including transartion costs and are Sub￿qUentIY catTied at amofti$ed ¢tsst using the effective interest method unl¢s5 the arran8emeni consti¢ut¢s a flnancinu Iransaction. where the transaction is tn¢asured at the prese￿1 va]ue of the future receipt5 diseounied at a market rate of interest. Fitwicial asseis Classified a% receivable wiihin one year ar¢ not aTEJOrt15ed. Bosic]IMondul lioljuhles Basic financial liabilitie5. including Crediiors and bank loans ar¢ inilially re￿gnISed at transaction price unless the arrangement consiiiui¢s a financing transaction, where the debt instntm¢nt is measured atthe present of future payments discounted at a mat*ei txte of interest. Financial liabilitie5 classifled as payable within one year are not amortised. Debl instruments are subsequently Ca￿led at amortised c05t, using the ¢ffe¢tive int¢rest rate method. Trnde Cr￿ltOrS are obli8ations to pay for 8oods or servi¢¢s that have been acquired irt the ordinary coutEe of op¢raiions from suppliers. Amounts payable are classifled as Current liabilities if payment is due within onc year or less. If noL they are presented &s non-current liabilities. Trdde creditors are recognised initialty at tmlsaction price and Subsequet￿lY measured at amortis¢d Cost using the ¢ffective interest method. Derecognlrtf)h offinanci4llik¥bUllles Financial liabilities ar¢ dere¢ognised whenth¢ ¢harity'$ctsntr&Ctual obligations expire orare di*harged or canc¢ll¢d. CRITICAL ACCOUNTING ESTIMATES Af4D JUDGEMENTS In the application of the charity's accounling policies, the trust¢¢s are required to mak¢ judgements, ¢stimates and assumptions about the Carrying amouni of assets and liabilities are not readily apparent from other sources. The estiD]at¢s and associated &8sumptions are based on histori￿ experience and other fadors that ajr considered to b¢ relevant. Aetual results may differ from these eStill￿$. The estim￿¢$ and underlying &ssumptions are reviewed oth an ongoing b&8is. Revisiolls to ￿0￿nI]llg estimat¢s are recogt)ised in ihe period in which the estimate is revis¢d where the revisioll 8fferts only that p¢rio(L or in the period of the revision and f￿Ure periods Mthere ihe revision affeas both CUTrent and firture periods. Page 8 THE CHACEGROVE FAMILY FOUNDATION Notes to the Fin8ncial StgteTneThts- continued for the Year Ended 31 March 2025 3. INVESTMENTS 2025 2024 In¢om¢ from listed investments Interest reeelvable 15,435 35,910 51,345 25,087 52,653 4. RAISING FUNDS 2025 2024 Inv¢sDnenl mana8¢meni 12,286 9,356 CHARITABLE ACTIVITIES 2025 2024 Charitabl¢ ¢xp¢nditur¢ Share of govemance costs {s¢e note 6) 27,980 1.344 29.324 12,744 14213 6. SUPPORT COSTS Supp)rt Governance costs costs 2025 Support Governance costs costs 2024 Support ¢o$t$ 1.469 1.469 1.344 1.344 1.469 ,469 Analysed between Charitable activities 1,344 1,344 1,469 1,469 7. TRUSTEES None of the truslees {or any petsons connected with them) received any remun¢ration or benefits from the charity during the y￿. & STAFF COSTS The average monthly number of employees during the year as follows.. 2025 2024 Total No employees received emoluments in exeess of £60,(KbO. 9. NET GAINSILOSSES ON JNVESTMENTS Unrestricted funds 2025 Urtr¢5tricted fund5 2024 Revaluation of inv¢stments IIA)ss) on sale of investtnents 58,366 112.190 133,554 116,839 116,715 46.176 Pag¢ 9 THE CHACEGROVE FAMILY FOUNDATION Notes i• tl)e Fl ial Ststements- co￿1]￿ued Year E IM rch211 10. FIXED ASSET INVESTMENrs Listed it)vestments Cost or Y*lu*tion At l April 2024 Additions Valuation changes Diswsals At 3 1 Ma￿h 2025 1.836.878 445,227 58,366 1454.0861 1,886,385 Carrying amount At 31 March 2025 1,886,385 At 31 March 2024 ,836,878 11. FINANCIAL INsfRUMENTS 2025 2024 Carryryng *mount of finanel#l asset$ Insiruments mwured at fakr value through profit or loss ,886.385 1,836.878 12. DEBTORS 2025 2024 Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 A¢¢wals and deferred incom¢ 1.344 4.020 14. RELATED PARTY TRANSAcrioNs There were relaied party trdnsactions for the yeaT end¢d 31 March 2025. Page 10