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2024-12-31-accounts

Registered Charity no. 1183399 Company no. 11225248

Bleu Blanc Rouge Foundation Limited

Trustees’ report and financial statements for the year ended 31 December 2024

Bleu Blanc Rouge Foundation Limited

Contents

Page
Legal and administrative information 1
Trustees’ report 2
Independent Examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 12
Notes to the financial statements 13

Bleu Blanc Rouge Foundation Limited

Legal and administrative information

Trustees Isabelle Georgeaux (Chair)
Chloe Georgeaux-Healy
Liam Georgeaux-Healy
Lynn Hohenfeld
Bankers Royal Bank of Canada
Gaspe House
66-72 Esplanade
St Helier
Jersey
JE2 3QT
Independent Examiner Cara Turtington FCA DChA
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Registered address 18–19 Albemarle Street
London
England
W1S 4HR

1

Bleu Blanc Rouge Foundation Limited

Trustees’ report Fort the year ended 31 December 2024

Trustees ’ Report for the year ended December 2024

The trustees present their report with the financial statements of Bleu Blanc Rouge Foundation Limited (UK) (the Trust) for the year ended 31 December 2024.

The accounts have been prepared in accordance with the accounting policies set out in pages 14 to 15 of the attached accounts and comply with the Charity’s governing document, applicable laws and 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 United Kingdom and Republic of Ireland (FR102), (SORP (FRS 102)).

Introduction

The Charity has a clear and focused strategy focusing on supporting vulnerable and disadvantaged children and young people, with a specific focus on children and young people in and leaving care. This focus has remained the same since the earliest days of the foundation but has been refined over the years as the Trustees have learned more about the issue that sits at the core of their work and how they can best be of service to the young people that they seek to support.

The Trustees seek, through their grant-making, to support organisations focused on both responding to and solving issues facing young people in and leaving the care system — the challenges faced by the young people supported by the Charity could result from lacking family, from poverty, from facing unemployment, from involvement in violence, or from susceptibility to early parenthood, mental illness, addictions or infections and disease.

In responding to these challenges, the Trustees recognise that youth, risk, and vulnerability are often balled up together in a way that sees young people as the problem (or the solution)—rather than as participants in societies and in a global community that are fraught with many problems. The constraints, opportunities, and the means by which youth negotiate their transition into greater responsibility and adulthood have much to tell us about the conditions of the local and global communities in which they live.

Young people are vulnerable not just because they are young or undergoing rapid developmental transitions. Perhaps more fundamentally, they are vulnerable because they are people who live in an unequal world where the social values and institutions that permit opportunities and possibilities of all kinds are not available to everyone.

This strategic approach means responding to complicated and interconnected forces that sustain poverty, reproduce inequality, and maintain social exclusion. Addressing risks and vulnerabilities associated with youth means addressing the more systemic disparities and disadvantages that diminish their life chances on local and global scales. To that end, the Trustees aim to support organisations that understand the assets that young people bring to the table, and that are built to listen effectively to the young people they seek to serve.

2

Bleu Blanc Rouge Foundation Limited

Trustees’ report Fort the year ended 31 December 2024

Structure, Governance and Management

The Charity is a charitable company limited by shares incorporated in England and Wales. The registered office is Islandbridge Capital, 18/19 Albemarle Street, London, W1S 4HR.

Trustees

The trustees who served during the period were:

Isabelle Georgeaux Chloe Georgeaux-Healy Liam Georgeaux-Healy Lynn Hohenfeld

The trustees held a full board meeting twice during the year.

The trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises.

The power of appointing new trustees is vested in the trustees.

Decision-making

The trustees hold ultimate responsibility for the policies, activities and assets of the charity: they agree the grant-making strategy and policies of the trust, review funding proposals, approve grants, assess grant-holder progress, review financial performance of the investment portfolio and agree investment policies. When necessary, the trustees seek advice and support from professional advisers, including investment managers, who attend one meeting annually.

Management

The day-to-day management and operations of the Charity are supported by Islandbridge Capital and Greenwood Place.

Objectives and Activities

The Charity exists and operates for the public benefit. Its main activity is the award of grants to registered charities.

The trustees confirm they have referred to the guidelines contained in the Charity Commission ’ s general guidance on public benefit when reviewing the Charity's aims and objectives, considering grant awards and managing the Charity’s assets.

Grant-making policy and aims

The Charity's key geographic areas of focus are the United Kingdom and Ethiopia; however, grants may also be made to charities that are exclusively charitable under the laws of England and Wales and within the Charity's broad strategy.

The Charity currently takes a proactive approach to identifying organisations and is unable to consider unsolicited applications. The Charity does not make grants to individuals.

3

Bleu Blanc Rouge Foundation Limited

Trustees’ report Fort the year ended 31 December 2024

The Charity uses its resources where it feels they can be effective to help people who are particularly vulnerable, disadvantaged and easy to ignore. The Charity has developed a particular focus on children, teenagers and young adults with care experience. At the Trustee ’ s discretion, grants are also made to organisations working in other spheres.

The trustees aim to fund frontline service delivery by charities that promote the voices and lived experiences of their beneficiaries to transform the wider system, and are happy to work in partnership or co-fund with other organisations to fund initiatives beyond their financial scope as a funder.

The Trustees tend to provide long-term, unrestricted funding to a small number of partners, all of whom bring a relationship-centred approach to their work - building from the individual strengths and needs of all beneficiaries and placing the lived experience and aspirations of service users at the heart of their work.

In their grant-making work, the trustees strive to meet the following values :

Achievements and Performance

Through the year, money was transferred to the US Foundation where strategic grants were made to the grantees listed below.

Carefree Cornwall

Carefree Cornwall works with young people across Cornwall, aged 11-25, who are in and leaving care. The charity offers positive activities, events and projects that help young people develop their social and emotional skills so that they have a better chance of growing up into positive, healthy citizens. Other key aims of Carefree are to support and encourage young people who are in and leaving care to have their voices heard at a local level and to share the organisation ’ s learning widely.

Children and Families Across Borders

Children and Families Across Borders’ team of international children ’ s social workers identify and protect the increasing number of children who have become separated from their families across international borders and where possible reunite them with their families in the UK and overseas. They work with partners in over 120 countries.

Drive Forward Foundation

Drive Forward supports young people coming out of the care system to gain independent living skills, get jobs and qualifications - and most importantly, to achieve the self-worth, purpose and stability attached to being in meaningful, sustained employment.

The Home Project

THP operates dedicated shelters for the most vulnerable unaccompanied minor immigrants in Greece. They provide young people with a home as well as practical, long-term holistic support - supporting them with therapy, educational support and practical ways to serve in the local community.

4

Bleu Blanc Rouge Foundation Limited

Trustees’ report Fort the year ended 31 December 2024

Kazzum Arts

Kazzum Arts provides creative opportunities for children and young people who have been affected by adverse childhood experiences. Their unique trauma-informed approach to creative practice helps participants improve wellbeing, emotional literacy, communication skills and to reduce their stress levels.

Lighthouse

Lighthouse aims to ensures that children in residential care have the same opportunities as everyone else by creating relationship-centred, education-focused children’s homes. The charity provides thoughtfully designed accommodation and individualised trauma-informed care and support for young people aged 12-18.

The Big House

The Big House is a London-based charity that empowers care leavers to reach their potential. The flagship project is an intensive 12-week programme of life skills and drama participation culminating in an original, full-scale theatre production that elevates the participants’ voices. Alongside this, nearly 200 people each year attend drop-in workshops and build a network of peer support.

The Old Vic Theatre Trust

The Old Vic works to promote theatre as a force for good in society, producing plays of the highest quality and engaging new and existing audiences with original, socially relevant work alongside world class revivals.

The National House Project

Care leavers often lack skills, qualifications, life skills, community & the chance to succeed. The National House Project (NHP) is an umbrella body which - via a network of Local House Projects - helps young people move on successfully from care into independent living in their own homes.

Settle

Settle's mission is to prevent youth homelessness by equipping care-experienced young people with the skills to manage their tenancies and wellbeing. Settle's award-winning approach and intensive support system play a pivotal role in ensuring young people's successful transition to independent living.

Juno

Juno focuses on providing homes for children that are more than safe – they are stable, loving, nurturing, and aspirational. Their care philosophy, based on social pedagogy, aims to encompass all aspects of a young person's development. Their success metrics involve placement stability, educational attainment, and satisfaction ratings from young people, reflecting their commitment to improving life chances and happiness into adulthood.

Looking ahead

The ongoing cost of living crisis has had a particularly negative effect on the vulnerable young people that the Trustees seek to serve through their grant-making, and a difficult funding environment has added to this - placing additional stress on the charities that are the Charity’s core partners. The Charity has sought to provide support by maintaining relationships - there has been very little change to the Charity’s core portfolio of grantees over recent years - as well as by keeping in close touch with its grantees and their work to understand and respond to their needs - providing additional support wherever needed.

5

Bleu Blanc Rouge Foundation Limited

Trustees’ report Fort the year ended 31 December 2024

The trustees have placed a particular emphasis this year on visiting grantees, getting to know their work and understanding where they can be most helpful. This has included arranging an in-depth professional exchange between social workers and senior leadership teams in order to provide crosspollination and enable partner organisations to build and refine their practice. Participants reported that the exchange programme was extremely valuable and has enabled improved practice for both participating organisations. It is anticipated that the Charity will provide more opportunities in future for grantee partners to come together for mutual support and learning.

As an independent grant-making trust, our broad aim for the coming year will be to support resilience and continued learning in our existing grantees who are carrying out vital work supporting vulnerable children and young people

Financial Review

Total income for the period under review amounts to £78,302 (2023: £841,446). Of this income £nil (2023: £782,646) related to donation income and associated gift aid income from the Trustees.

The Charity made grants to third parties totalling £nil (2023: £474,000). In 2024, no income was received from the US Foundation (2023: £nil). In 2024, a further grant of £2,541,805 (2023: £856,809) was made to the Bleu Blanc Rouge Foundation US.

As at 31[st ] December 2024 the total unrestricted reserves of the Charity were £3,534,593 (2023: £6,063,680).

Reserves Policy

The balance sheet shows total reserves of £3,534,593 (2023: £6,061,381), which are sufficient to meet all known or anticipated commitments. They are not subject to any restrictions and are all free reserves available to be spent on the charity's activities. The trustees ’ policy is to hold sufficient cash to sustain the current level of grant making to beneficiaries and to meet all liabilities that are known or can be reasonably anticipated, thus avoiding the need to dispose of investments, with the attendant costs and adverse effect on performance. Although there is no restriction on their spending powers, the trustees regard cash deposits as representing spendable reserves and investments as long-term capital assets.

Risk Management

The trustee body includes a broad mix of skills and experience - drawn from amongst the founding family and additional professional advisors. The trustees are supported by Greenwood Place, which provides a professional grant management team that includes experienced charity trustees. Effective internal control is maintained by delegating responsibilities and performance measurement. Procedures are kept under regular review.

The trustees regularly assess the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The trustees believe that by monitoring finances, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

The Trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered its impact on their activities. The charity is currently funded solely by the founder and does not actively fundraise from the general public. Its policy is not to engage in active fundraising at this time and it has received no complaints in relation to its fundraising activities.

Key principal risks and the steps taken to mitigate these risks include the following:

6

Independent examiner’s report to the trustees of Bleu Blanc Rouge Foundation Limited (‘the Company’)

Bleu Blanc Rouge Foundation Limited

I report to the trustees on my examination of the accounts of Bleu Blanc Rouge Foundation Limited (‘the Company’) for the year ended 31 December 2024.

Respective Responsibilities of trustees and examiner

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

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 Company as required by section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. 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.

Signed:

Cara Turtington FCA DChA 16 June 2025 Saffery LLP 71 Queen Victoria Street Statutory Auditors London EC4V 4BE

8

Bleu Blanc Rouge Foundation Limited

Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2024

Income and endowments from:
Donations and legacies
2
Investment income
2
Interest income
2
Total
2
Expenditure on:
Raising funds
3
Charitable activities
4
Net income /(expenditure) before
investment movements
Gain/ (loss) on investments
6
Foreign exchange (losses) / gains
Net income/ (expenditure) and net
movement in funds
5
Balance brought forward at 1 January
2024
Balance carried forward at
31 December 2024		 Total
2024
£
-
51,627
26,675
78,302
31,895
2,643,165
(2,596,758)
156,229
(86,259)
(2,526,788)
6,061,381
3,534,592		 Total
2023
£
782,646
48,652
10,148
841,446
59,864
1,472,462
(690,880)
(306,352)
212,618
(784,614)
6,845,995
6,061,381

The Statement of Financial Activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 13 to 19 form part of these financial statements.

9

Bleu Blanc Rouge Foundation Limited Balance Sheet

As at 31 December 2024

Notes
Fixed assets
Investments
6
Current assets
Cash at bank
Debtors
7
Current liabilities
Creditors: amounts falling due within one year
8
Net current assets
Net assets
Called up share capital
Unrestricted funds
Total funds		 As at
31 December
2024
£
3,535,526
5,732
1
5,733
6,666
(933)
5,534,593
1
5,534,592
3,534,593		 As at
31 December
2023
£
6,017,441
29,652
28,088
57,740
13,800
43,940
6,061,381
1
6,061,380
6,061,381

For the year ended 31 December 2024 the charitable company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

The Trustees have prepared the accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

10

Bleu Blanc Rouge Foundation Limited Statement of Cash Flows For the year ended 31 December 2024

Notes
31 December

2024
£
Cash flows from operating activities:
Net cash provided by operating activities
(2,719,942)
Cash flows from investing activities:
Purchase of investments
(1,906,298)

Disposal of investments
4,464,376
Dividends
57,879
Net cash outflow from investing activities
2,615,957
Change in cash and cash equivalents in the
year
(103,986)
Cash and cash equivalents at 1 January
2024
185,126
Cash and cash equivalents at 31 December
2024
81,141
Cash flows from operating activities:
Net (expenditure)/income for the year
(2,526,788)
Adjustments for
Non cash movement in investments
6
(Gains) / losses on investments
(156,229)
Decrease/(Increase) in debtors
28,087
(Decrease) /Increase in creditors
(7,134)
Dividends
(57,879)
Net cash provided by operating activities
(2,719,942)
Analysis of changes in net debt
As at 1 Jan
2024
Cashflows
Cash at bank
29,652
(23,920)
Cash held as part of the investment
portfolio
155,474
(80,065)
185,126
(103,985)		 Notes
31 December

2024
£
Cash flows from operating activities:
Net cash provided by operating activities
(2,719,942)
Cash flows from investing activities:
Purchase of investments
(1,906,298)

Disposal of investments
4,464,376
Dividends
57,879
Net cash outflow from investing activities
2,615,957
Change in cash and cash equivalents in the
year
(103,986)
Cash and cash equivalents at 1 January
2024
185,126
Cash and cash equivalents at 31 December
2024
81,141
Cash flows from operating activities:
Net (expenditure)/income for the year
(2,526,788)
Adjustments for
Non cash movement in investments
6
(Gains) / losses on investments
(156,229)
Decrease/(Increase) in debtors
28,087
(Decrease) /Increase in creditors
(7,134)
Dividends
(57,879)
Net cash provided by operating activities
(2,719,942)
Analysis of changes in net debt
As at 1 Jan
2024
Cashflows
Cash at bank
29,652
(23,920)
Cash held as part of the investment
portfolio
155,474
(80,065)
185,126
(103,985)		 31 December
2023
£
(1,310,818)
(4,907,786)
4,098,405
48,652
(761,829)
(2,072,646)
2,257,772
185,126
(784,614)
(782,646)
306,352
(9,148)
7,890
(48,652)
(1,310,818)
As at 31
Dec 2024
5,732
75,409
81,141
185,126
(103,985)

12

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

1. Accounting policies

1.1 Basis of accounting

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared under the historic cost convention in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition) and the Companies Act 2006. The financial statements have been prepared in accordance with the second edition of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)).

The Charity is a public benefit entity as defined by FRS 102 and the functional currency is pound sterling.

The Trustees consider the Charity to be a going concern and subsequently the financial statements are drawn up on that basis. In forming their assessment, the Trustees have concluded there are no material uncertainties regarding the Charity’s ability to continue as a going concern.

1.2 Charity information

The Charity is a registered charity and a company incorporated in England and Wales limited by shares.

1.3 Income

Donations are accounted for in the year in which the Charity is entitled to receipt and include any associated gift aid.

1.4 Resources expended

Expenditure is included on an accruals basis.

Grants awarded are charged in full against income when the offer is conveyed to the beneficiary, except in those cases where the offer is conditional and therefore recognised as expenditure when the conditions attached 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 an expense.

1.5 Governance costs

Governance costs comprise all costs involving the public accountability of the charity and costs related with statutory requirements.

1.6 Funds

Unrestricted funds represent the balance of income from all sources after deduction of grants made and other necessary expenditure.

1.7 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts.

13

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

Transactions denominated in foreign currencies are translated at the rate of exchange prevailing at the time of the transaction. Foreign currency balances are translated at the rate of exchange prevailing at the Balance Sheet date. Foreign exchange gains and losses are included in the SOFA within expenditure on charitable activities.

14

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

2.
Income
Donation income
Interest income
Investment income
3.
Raising funds
Investment management fees
4.
Charitable activities
Costs of grant making
Grants made
Grant made to BBRF US
Support costs
Management fees
Legal fees
Advisory fees
Bank fees
Bank revaluations
Governance costs
Accountancy and tax advice
Independent examination / audit fees		 Unrestricted
Income
2024
£
-
26,675
51,627		 Unrestricted
Income
2023
£
782,646
10,148
48,652
841,446
2023
£
59,864
78,302
2024
£
31,895
2024
£
-
2,541,805
89,516
-
-
3,171
1,557
2,616
4,500
2,643,165
2023
£
474,000
856,809
86,455
9,849
1,100
3,783
23,726
2,940
13,800
1,472,462

15

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

During the year grants were made to the following organisations:

Drive Forward - 50,000
Kazzum Arts Project - 26,250
New Horizon Youth Centre - 50,000
Safe Lives - 30,000
Children and Families Across Borders - 26,250
Carefree Cornwall - 78,750
The Big House - 52,500
The Old Vic - 100,000
The National House Project - 26,250
ARK - 9,000
Collaborative Cures - 25,000

For more detailed information about recipients of grants during the year please refer to the Trustees’ report.

The Charity has no employees (2023: none). Professional consultants were used to provide grant management and other professional and accountancy services.

During the year no payments were made to any Trustee for their services (2023: nil). No expenses were reimbursed to Trustees in the year (2023: nil).

5. Net resources expended are stated after charging/(crediting) :

Amounts paid to independent examiner / auditor
-
for audit
-
for independent examination
-
for accounts preparation
Foreign exchange losses / (gains) on investments		 2024
2023
£
£
-
11,700
4,500
-
2,616
2,100
86,259
(212,618)

16

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

6. Investments

Market value brought forward at 1 January
Additions
Disposals
Decrease in investment cash
Unrealised gains/ (losses)
Realised gain on investments
Market value carried forward at 31 December
UK Listed investments
Overseas Listed investments
UK Cash
Overseas cash
Overseas other investments
Historical cost (including cash held in investments)		 2024
£
6,017,441
1,906,298
(4,464,376)
(80,065)
25,328
130,901
3,535,526
171,028
2,685,551
19,155
56,110
603,681
3,535,526
4,068,074		 2023
£
6,202,917
5,690,432
(4,097,305)
(1,472,251)
(692,047)
385,695
6,017,441
392,000
3,823,497
6,013
147,309
1,648,622
6,017,441
6,381,282

There are no additions in the form of shares donated (2023: £782,646 in the form of 13,536 shares)

17

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

7.
Debtors
Amounts owed by the parent charity
Prepayments
8.
Creditors: amounts falling due within one year
Accruals
9.
Analysis of net assets
31 December 2024
Non-current assets
Current assets
Current liabilities
Net assets
31 December 2023
Non-current assets
Current assets
Current liabilities
Net assets		 2024
£
1
-
1
2024
£
6,666
6,666
Unrestricted
fund
£
3,535,526
5,733
(6,666)
3,534,593
Unrestricted
Fund
£
6,017,441
57,740
(13,800)		 2024
£
1
-





2023
£
1
28,087
1 28,088
2024
£
6,666		 2023
£
11,500
6,666 11,500
6,061,381

18

Bleu Blanc Rouge Foundation Limited

Notes to the financial statements (continued) For the year ended 31 December 2024

10. Share Capital

£1 ordinary shares Authorised
Allotted, called-up and
fully paid
31
December
2024
31
December
2023
31
December
2024
31
December
2023
£
£
£
£
1
1
1
1
1
1
1
1

At 31 December 2024 there was one share in issue (2023: one) and this share had not been fully paid.

11. Related party transactions

During the period the Charity made grants to the parent of £2,541,805 (2023: £856,809) and received grants from the parent charity of £Nil (2023: £Nil).

12. Ultimate controlling party

The Charity is wholly owned by Bleu Blanc Rouge Foundation US.

19