Charity number: 1184227
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 20 |
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025
Trustees
Andrew Nicholas Shaun Carey David Newman
Charity registered number 1184227 Principal office Powe House Portinscale Keswick CA12 5RW
Accountants
Armstrong Watson LLP Carleton House 136 GRay Street Workington CA14 2LU
Page 1
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report together with the financial statements of the The Robert Ford Scholarship for Creative Design for the year 6 April 2024 to 5 April 2025.
Objectives and activities
a. Policies and objectives
The objectives of the Trust are to help the students of the late Mr R Ford's former school in their education especially those undertaking study of subjects falling under the description of creative design. However, he left it to the discretion of the Trustees that the fund may be used to advance any other educational purpose which is charitable according to the laws of England and Wales for the benefit of the public as the Trustees may in their absolute discretion think fit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The Trust intends to provide grants to those students choosing higher education courses in creative design with a view to helping those from disadvantaged backgrounds.
The Trust also intends to provide grants to the school to help fund GCSE students attending extracurricular activities such as school trips both at home and abroad as well as events for the wider community such as concerts and further events held by the school.
The long term aim for the Charity is to pay grants and donations out of its income from investments.
Achievements and performance
a. Main achievements of the Charity
The Charity was established in July 2019 but has yet to engage in any charitable activities, however as detailed below, the Charity now has investments in place to ensure its sustainability and intends to begin those charitable activities in the 2024/25 financial year.
b. Investment policy and performance
The investments made with Transact through the Trust's investment advisors (The Goodman Partnership) continued to make reasonable returns taking account of the economic climate during the year. During the 2024/25 financial year the economic climate improved however the capital value of the Trust’s investments remained fairly static.
The income arising from the Windermere Marina rental property has been consistent with projections and has not been badly affected by outside factors. The only negative is the increase in insurance premiums with a possibility these may suffer from a significant increase in coming years due to increased flooding concerns.
The second rental property started the year with encouraging forward bookings but did suffer from last minute cancellations. There were however some maintenance issues which arose but due to the cancellations were able to be dealt with promptly.
Financial review
Page 2
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
a. 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 concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The trustees aim to maintain free reserves in unrestricted funds at a level deemed necessary to cover approved expenditure for the next 6 months. The trustees consider that this level will provide sufficient funds to ensure that there is cash available to cover support and any other ongoing costs.
As at the period end there were total funds of £1,639,009 (2023: £1,709,538), all of which are unrestricted. This level of reserves is in excess of 6 months approved expenditure due to the investment of legacy income, to ensure the sustainability of the Trust's activities. Free reserves, excluding tangible assets, investments and investment property, are £4,572 (2024: £21,579) which is in line with the day-to-day needs of the Trust. Free reserves is considered to equate to net current assets.
Structure, governance and management
a. Constitution
The Robert Ford Scholarship For Creative Design is a registered charity, number 1184227, and is constituted under a Trust deed.
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 Trust does not actively fundraise and seeks to continue the charitable work desired by the donor through the careful stewardship of its existing resources.
At the half yearly trustees’ meetings, the trustees agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance.
d. Policies adopted for the induction and training of Trustees
The Trustees have not undergone any specific additional training as it is felt that they already have the necessary experience and continuing professional development within their occupations.
Page 3
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Structure, governance and management (continued)
e. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
The trustees consider variability of investment returns on the Investments with Transact to constitute the charity’s major financial risk and recent extreme volatility in world stock markets due to the recent pandemic has demonstrated this risk. The trustees Investment advisors The Goodman Partnership liaise with them on a regular basis to minimize this risk where possible.
f. Property titles held by Trustees
Both investment properties held by the Charity are held jointly in the names of the Trustees. Neither property can be sold without the agreement of both Trustees.
Plans for future periods
The renovation of the second rental property has been completed, and the property began generating income from its activities in October 2022. Turnover for the current year has decreased, primarily due to a lack of investment by the previous management company, which limited the Trust’s ability to maximise income opportunities during the period.
A positive return is anticipated for the year ending 5 April 2025, with expectations of further improvement in 2025/26 as the impact of renewed investment and effective management begins to take effect, subject to wider economic conditions.
Despite the reduced return from investments and the current economic outlook, the Trustees anticipate being in a position to continue making grants during the accounting year ended 5th April 2026 after a large donation of £40,000 was donated during the 2025 period. The trustees are keeping this under review due to the reduced returns from investments together with fluctuating rental returns which are susceptible to change due to the cost of living crisis which is curtailing holiday plans for many people.
Long term the trustees are confident that returns from all investments will return to pre-pandemic levels once the current economic instability has improved and confidence returns to the markets leading to a return to lower interest rates and increased consumer spending.
Page 4
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Statement of Trustees' responsibilities
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 applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state 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;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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 their behalf by:
A Carey A Carey (Jan 30, 2026 16:40:10 GMT)
Andrew Nicholas Shaun Carey
Date: 30/01/26
Page 5
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025
Independent Examiner's Report to the Trustees of The Robert Ford Scholarship For Creative Design ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
Signed:
Dated: 30/01/2026 Steven Kirkbride (Jan 30, 2026 17:08:57 GMT)
Steven Kirkbride BFP FCA
Carleton House, Workington, CA14 2LU
Page 6
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities 6 Total expenditure Net expenditure before taxation Taxation Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): (Losses)/gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 806 50,316 51,122 29,993 85,090 115,083 (63,961) (3,174) (67,135) (3,394) (70,529) 1,709,538 (70,529) 1,639,009 |
Total funds 2025 £ 806 50,316 51,122 29,993 85,090 115,083 (63,961) (3,174) (67,135) (3,394) (70,529) 1,709,538 (70,529) 1,639,009 |
Total funds 2024 £ 9,509 61,489 70,998 38,586 33,775 72,361 (1,363) (7,319) (8,682) 31,555 22,873 1,686,665 22,873 1,709,538 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 20 form part of these financial statements.
Page 7
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
BALANCE SHEET AS AT 5 APRIL 2025
| Note Fixed assets Tangible assets 8 Investments 10 Investment property 9 Current assets Debtors 11 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
- 22,643 22,643 (18,071) |
2025 £ 11,567 655,350 967,520 1,634,437 4,572 1,639,009 1,639,009 1,639,009 - 1,639,009 1,639,009 |
4,475 26,111 30,586 (9,007) |
2024 £ 14,615 699,766 973,578 |
|---|---|---|---|---|
| 1,687,959 21,579 |
||||
| 1,709,538 | ||||
| 1,709,538 | ||||
| 1,709,538 | ||||
| - 1,709,538 |
||||
| 1,709,538 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A Carey
A Carey (Jan 30, 2026 16:40:10 GMT)
Andrew Nicholas Shaun Carey
Date: 30/01/2026
The notes on pages 9 to 20 form part of these financial statements.
Page 8
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. General information
The Charity is a registered charity, number 1184227, and is constituted under a Trust deed. The Trustees are named on page 1.
The address of its principal place of business is Powe House, Portinscale, Keswick, CA12 5RW.
2. Accounting policies
2.1 Basis of preparation of financial 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 financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Robert Ford Scholarship For Creative Design 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 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.
2.3 Expenditure
Expenditure is recognised 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 activity 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 directly to that activity. 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 charitable 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 Charity's objectives, as well as any associated support costs.
Page 9
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
2. Accounting policies (continued)
2.3 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.4 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.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Motor vehicles - 20% Straight line Fixtures and fittings - 20% Straight line
2.7 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 ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
2. Accounting policies (continued)
2.9 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.
2.10 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.
2.11 Financial 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 subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 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.
Page 11
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
3. Income from donations and legacies
| Unrestricted funds 2025 £ Donations 806 Unrestricted funds 2024 £ Donations 9,509 |
Total funds 2025 £ 806 |
|---|---|
| Total funds 2024 £ 9,509 |
4. Investment income
| Unrestricted funds 2025 £ Investment properties income 31,336 Income from listed investments 18,691 Income from listed investments - Interest 265 Income from listed investments - other 24 50,316 Unrestricted funds 2024 £ Investment properties income 41,760 Income from local listed investments 19,058 Interest 671 61,489 |
Total funds 2025 £ 31,336 18,691 265 24 50,316 |
|---|---|
| Total funds 2024 £ 41,760 19,058 671 61,489 |
Page 12
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
5. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2025 £ Investment fees 12,738 Legal and professional fees 431 Property costs - Cleaning 5,778 Property costs - rates and utilities 5,428 Property costs - insurance 509 Property costs - Agent commission 2,609 Property costs - repairs and maintenance 2,500 29,993 |
Total funds 2025 £ 12,738 431 5,778 5,428 509 2,609 2,500 29,993 |
|---|---|
Page 13
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
5. Expenditure on raising funds (continued)
Costs of raising voluntary income (continued)
| Investment fees Legal and professional fees Property costs - Cleaning Property costs - rates and utilities Property costs - insurance Property costs - Agent commission Property costs - repairs and maintenance |
Unrestricted funds 2024 £ 7,158 572 2,540 6,004 464 4,396 17,452 38,586 |
Total funds 2024 £ 7,158 572 2,540 6,004 464 4,396 17,452 38,586 |
|---|---|---|
6. Analysis of expenditure by activities
| Raising funds Raising funds |
Support costs 2025 £ 85,090 Support costs 2024 £ 33,775 |
Total funds 2025 £ 85,090 |
|---|---|---|
| Total funds 2024 £ 33,775 |
Page 14
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Bookkeeping Motor expenses Bank charges Accountancy fees Post and stationery Trustees' insurance (Gain) / losses on foreign exchange Travel and subsistance Donations paid out Depreciation Bookkeeping Motor expenses Bank charges Independent examiner fees Accountancy fees Post and stationery Trustees' insurance (Gain) / Loss on foreign exchange |
Activities 2025 £ 5,159 27,832 4,063 210 4,674 174 376 52 2,550 40,000 85,090 Activities 2024 £ 5,317 18,120 3,418 389 1,800 4,190 118 362 61 33,775 |
Total funds 2025 £ 5,159 27,832 4,063 210 4,674 174 376 52 2,550 40,000 85,090 |
|---|---|---|
| Total funds 2024 £ 5,317 18,120 3,418 389 1,800 4,190 118 362 61 33,775 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
Page 15
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
7. Trustees' remuneration and expenses (continued)
During the year ended 5 April 2025, A Carey was paid £27,832 (2024: £18,120) in relation to professional services, charged at pre-agreed rates.
8. Tangible fixed assets
| Cost or valuation At 6 April 2024 Additions At 5 April 2025 Depreciation At 6 April 2024 Charge for the year At 5 April 2025 Net book value At 5 April 2025 At 5 April 2024 Investment property Valuation At 6 April 2024 Foreign exchange movement At 5 April 2025 |
Motor vehicles £ 22,400 - 22,400 9,707 4,480 14,187 8,213 12,693 Spanish Property £ 678,578 (6,058) 672,520 |
Fixtures and fittings £ 4,187 2,111 6,298 2,265 679 2,944 3,354 1,922 UK Property £ 295,000 - 295,000 |
Total £ 26,587 2,111 28,698 11,972 5,159 17,131 11,567 14,615 Total £ 973,578 (6,058) 967,520 |
|---|---|---|---|
9. Investment property
No separate valuation reserve is being maintained or disclosed in the accounts as the entity is a charitable trust and not expected to make any distributions, therefore knowing the distributable and nondistributable split is not necessary.
Page 16
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
9. Investment property (continued)
10. Fixed asset investments
Investments
| in subsidiary companies Listed investments £ £ Cost or valuation At 6 April 2024 2 699,764 Additions - 110,084 Disposals - (157,164) Revaluations - 2,664 At 5 April 2025 2 655,348 Net book value At 5 April 2025 2 655,348 At 5 April 2024 2 699,764 Principal subsidiaries The following was a subsidiary undertaking of the Charity: Name Company number Principal activity Class of shares RHF Creative Scholars Ltd 13980171 Management of holiday lets Ordinary The financial results of the subsidiary for the year were: Name Income £ Expenditure £ RHF Creative Scholars Ltd 33,172 (33,172) |
Total £ 699,766 110,084 (157,164) 2,664 655,350 655,350 699,766 Holding 100% Net assets £ 2 |
|---|---|
Page 17
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
11. Debtors
| Due within one year Other debtors |
2025 £ - - |
2024 £ 4,475 |
|---|---|---|
| 4,475 |
12. Creditors: Amounts falling due within one year
| Corporation tax Other creditors Accruals and deferred income |
2025 £ 2,268 4,228 11,575 18,071 |
2024 £ 1,269 201 7,537 |
|---|---|---|
| 9,007 |
Page 18
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
13. Statement of funds
Statement of funds - current year
| Balance at 6 | Balance at 6 | Gains/ | Balance at 5 | Balance at 5 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| April 2024 | Income | Expenditure | Taxation | (Losses) | April 2025 | |||||
| £ | £ | £ | £ | £ | £ | |||||
| Unrestricted | ||||||||||
| funds | ||||||||||
| General Funds | 1,709,538 | 51,122 | (115,083) | (3,174) | (3,394) | 1,639,009 | ||||
| Statement of funds - prior year | ||||||||||
| Balance at | Gains/ | Balance at | ||||||||
| 1 April 2023 | Income | Expenditure | (Losses) | 5 April 2024 | ||||||
| £ | £ | £ | £ | £ | ||||||
| Unrestricted | funds | |||||||||
| General Funds | 1,686,665 | 70,998 | (79,680) | 31,555 | 1,709,538 |
14. Summary of funds
Summary of funds - current year
| General funds | Balance at 6 April 2024 £ 1,709,538 |
Income £ 51,122 Balance at 1 April 2023 £ 1,686,665 |
Expenditure £ (115,083) Income £ 70,998 |
Taxation £ (3,174) Expenditure £ (79,680) |
Gains/ (Losses) £ (3,394) Gains/ (Losses) £ 31,555 |
Balance at 5 April 2025 £ 1,639,009 |
|---|---|---|---|---|---|---|
| Balance at 5 April 2024 £ 1,709,538 |
||||||
| Summary of funds - prior year | ||||||
| General funds |
Page 19
THE ROBERT FORD SCHOLARSHIP FOR CREATIVE DESIGN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £ Tangible fixed assets 11,567 Fixed asset investments 655,350 Investment property 967,520 Current assets 22,643 Creditors due within one year (18,071) Total 1,639,009 |
Total funds 2025 £ 11,567 655,350 967,520 22,643 (18,071) 1,639,009 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 14,615 699,766 973,578 30,586 (9,007) 1,709,538 |
Total funds 2024 £ 14,615 699,766 973,578 30,586 (9,007) 1,709,538 |
|---|---|---|
Page 20
03838L Final Accounts 2025 04 05
Final Audit Report
2026-01-30
Created: 2026-01-30 By: Jo-Anna Cubby (Jo-Anna.Cubby@armstrongwatson.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAPPd-A5rfZKCRfCZdg8uhTPQZ93JbIAN7
"03838L Final Accounts 2025 04 05" History
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2026-01-30 - 16:40:08 GMT- IP address: 86.164.68.59
Document e-signed by A Carey (andrewandhelen@powehouse.com)
Signature Date: 2026-01-30 - 16:40:10 GMT - Time Source: server- IP address: 86.164.68.59
- Document emailed to steven.kirkbride@armstrongwatson.co.uk for signature 2026-01-30 - 16:40:12 GMT
Email viewed by steven.kirkbride@armstrongwatson.co.uk 2026-01-30 - 16:40:14 GMT- IP address: 154.29.102.177
Signer steven.kirkbride@armstrongwatson.co.uk entered name at signing as Steven Kirkbride 2026-01-30 - 17:08:55 GMT- IP address: 78.86.9.173
Document e-signed by Steven Kirkbride (steven.kirkbride@armstrongwatson.co.uk) Signature Date: 2026-01-30 - 17:08:57 GMT - Time Source: server- IP address: 78.86.9.173
Agreement completed.
2026-01-30 - 17:08:57 GMT