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Charlty Reglstradon No. 1184459
THETUtMICK FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
BUSINESS
ADVISORS
& ACCOuMTAfrITS
11 De Greysquare
De Grey Road
Colcherter
Essex
C04 SYQ
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THE TUDV￿cK FOUNDATION
CONTENTS
Legal and admini5tTrlive inforrnation
Chairman's oport
Trustees, report
Independent auditoes oport
ststement of financial activit
io
Balance sheet
li
Staternent of cash flow5
12
Notes to the fina￿la1 ststements
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THE TUDV￿cK FOUNDATION
COMPANY INFORMATION
C N Bennett
V R Shaik
J P Endacott
TC Bennett
Charlty number
1184459
Audltor
TC Group
11 De Grey Square
[* Grey Road
Colche5ter
C04 5YQ
Bankers
CAF Bank ￿rnited
25 King5 Hill Avenue
West Mallin£
Kent
ME19 4JQ
Investment managews
Chawles Stanley Gr(wJp
Ropetnakei Pla
25 Ropemaker Street
Lond(
EC2Y 9LY
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THE TUDV￿cK FOUNDATION
CHAIRMAN'S STATEMENT
FOR THE YEAR EPIDED31 MARCH 2025
As a grant making chartty Serving the needs of many. it ha5 been a pleasure tts report another busvvear.
Within our focus area of Essex and Suffolk. we ha¥È our best to ￿end our finantial help in most hÈlpfiJl
and productive way to enhance community values. Post &wid. and with diminishing financial availability from
councils and central go¥ernment. we are seeing Continual￿ the immense effort that the charity sect(r and
charitable fflinded individuals are making to help those. who for all 50rts of ￿asOns. are ffinding l*e diffi'cult. May I
refer the reader to pages 2 and 3 of these accounts to see the list of over ICI) applicants who have successfully
applied to us for grant a55i5tance. Eaih of those applications have been carefully vetted Since we do try to help
not the large well funded national chariries, but those who may ￿ stsrring a new charitable venture where they
have identified a parri£￿Iar need. Such cases often find it difficult ￿ sourte traditional fijndingyet may be the ears
and eyes of the community to identify the areas which have fallen outside the radar of local and certral
government assistance.
The range of our grants is wide In¢￿asIng￿. we a￿ seeing SiEnifi¢ant growth in requests for help in those wtth
special needs, whether they are physical or neur(8lNerEent natu￿. The ability to do what we can tohelp these
children and adults live a life integrated with our community is a reward in itsell.
In totsl we gave over £219,(tsJ, aTh increase of 40% from last year. This exceeded our investment irmrne but the
exce55 wa5 cornfortably covered by donalioll5. Our investments made some progress, a5 well as providirE a good
incorne retum, so our capital balances po5ent a ￿tisfaCtOry pirtuo.
With my thanks to my co trustees and my hard working e¥er diligent wretary.
Chalmmn
Date:.........................
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THE TUDV￿cK FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR EPIDED31 MARCH 2025
The trustees p￿sent their3nnual report and financial ststernentsforthe year ended 31 March 2025.
The financial 5tatement5 have been prepared in accordance wtth the accounting policies Set out in note I
to the financial staternents and cornply wtth the charity's deed of trusL the Charities Act 2011 and
"A¢countinB and RepoTbne by Charities.. Statement (Ff Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporring Standard applicable in the UK and
Republic of Ireland IFFLS 1021- las amended for accounting periods commencing from l January 20161
Oblectlves and 8ttt¥ltles
The charity's objects are the promotion of any charitable purposes for the benefit of the cornmunity
primarily. but not exclusivety. in Essex and Suffolk. in the aO￿ncernent of education. the protection of
mentsl and physical health and the relief of poverty and 5ickne5s. The policies adopted in furtherance ol
these objetts a￿ the makinE of grants. piiniipally to small O￿anIsatiOns, for specific and well defined
projetts, and the￿ has been no change in these durinzthe year.
The trustees have paid due regard to EuidarKe issued lry the Charity Comrni55ion in deciding what
activities thÈ charity should undertake.
Financial review
During the period the charity made grants to the frJllowinK orRanisations and indrviduab=
My Life
y¢￿ 4 All
HNe
£3,1
£3,(KK)
£3,￿￿)
E2.612
Refugee Wum Seeker
Jaywick Communtty Resource
Rotary Club of Manningt
Harwich Museum
ststus Creative ac
Toni Smith
El,51X)
£i,(xy)
£i,(XK)
£996
Young People Taking Action
Friends of RUShme￿ knbrary
Stour VallÈy Men's Shed
status Creative CIC
E920
05
£1,6
£8(M) J Portway
E3.￿N)
Gee Gees Ranch & Rescue
Hummingbird Community
Age Well East
Ri¥*r Church Ipswich
Crearive Leiston CIC
Kewon Sl Marfs Church
BuryTown Pastors
Framlingham Area Youth Action
Whitton Youth Partnership
Little Lifts
Handicapped Children's Art
Samaritsns ofwest Suffolk
The Forge Cornrnunity Chufch
Risby Willage Hall
Asperger East Anglsa Grant
Sea Change Projects
The London Bus Theatre Co
National Song Schcol
Welcorneto the UK
£51K)
1st Whisron scout Group
Lowestoft Museum
Rowan Hunter
E450
E5(K)
50
£5(M)
Brightlingsea Allotments
Framilingham sports Club
Mission to Music CIC
El.2
E2.7(K)
£1,8(M)
£3.￿￿)
E3.￿N)
£3.(XK)
£3.(XK)
£3.(XK)
E3.(XK)
E2.(XK)
£2.CKK)
£1.965
EI.51K)
£2.1XK)
£1.5CK)
£2.C
£3.(XK)
£3.1XK)
£3.Ct
£3.(XXI
£2.340
The Aurumn Cenrre CIC
Ending Life's Tatrx
Colchester Samaritans
Abacus Counselling and Support
Inside Out Community Arts
South Hanningh'eld Village
Wendons AmtrK) Pre-school
New Life Church
Make Play
Colchester Nepalise Society
Strongbones Children's Charity
I Can Run CIC
Boys and Men UK CIC
£2.9S4
E2.1
£3.ClJ)
£1.
El.S(K)
El.1
£2.619
£2.430
£2.{￿1
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THE TUDV￿cK FOUNDATION
TRUSTEES. REPORT ICONTrNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
Fresh Start Charity
The Seagull Lowestoft CIC
Cruse Bereavernent Supw)rt
Happy Hill
Alurnah CIO
Suffolk Accident Rescue
Shake Fesiival
POP E55ex
Limitless Futu￿5
Cohere Art5 CIC
Walton Comrnunity Forurn
Christ Church with St Mary
Lofty HeiEhts CIC
rIpt￿e Community Hub
Hadleigh Grand Feofftnent
SEND the Right Message
Stowmarket ASD Saturdty aub
Aspire Educational MÈntor
Dig it ComtnunityA1lot￿nts
Flutter
Jutt 42
PCCA Dvmont Hall
Portico A¢ademyTrust
BurlinEton Baptist Church
Bury Drop In
CDCN
Kool Caor5 South East
Capel Street St Mary Methodist Ch
The Boys Brigade Waltham
Arnber 8ee CIC
Braintree Youth Proiect
Breast Friends CIC
MakeThem Srnile
We are the Minorie5
Orwell Mutb" AcadernyTrust
The Wo0￿eT5t0ne Project
Parents and Carer5 Together
The Racing Cent
MCD CIC
Leiston Land CommunityTrust
still Go(Kl Fo(Kl
Castle Point S¢Kial Car Scheme
Colnevalley Railways
Campjojo
The Caedmon Companv
£3.IM The Mad Ab(rtrt Theat￿ Companv
£3,(KK)
Able Kid2
£3,￿￿)
stsrtstrong F￿tnesS CIC
Youth Employment StrateEy
Basic Essex Accident Rescue
HNe
£2,CXJ)
£1.8￿)
£1,542
£1,5C(J
£1.5CKJ
£1,5￿)
£1,5C(J
£i,CKKJ
£7Th)
£3,Cts)
£1,650
£1.5CKJ
El,4(M)
E850
£3.CKKJ
E3,CX))
E3,CX))
£3,(XK)
£2,984
E2,950
£2,5(K)
£2,(XK)
E2,CX))
El,952
£1,5(K)
£1.5(K)
£i.(XK)
£i,(XK)
£329
£2.(D)
£1.5OJ
£1.50)
El.5OJ
£1.50)
£i.coJ
2.171
£1.5(M)
£1.50)
El.l))J
£3,(KK)
El.5OJ
1.50)
El.5(K)
£3,￿N)
El,820
£3,￿N)
£3.￿￿)
E3.￿N)
£2,950
£1,5(M)
El.5(M)
The Harwich Festival
Clatton & District Local History
Flexfit Yoea CIC
Haylèy Debenham
Food ForThought
Lighthouse Family Trust
LEAPS Suffolk
Brenrwood CV5
Heads2Minds
£1.5(K)
Total
£219.189
It is the policy of the charity that unrestricted fvnds which ha¥e not been deswnated for a specffic use
should be maintained at a level equNalent to between three and six month's expenditure. The trustees
considers that reserves at thi5 level will ensure that. in the event of a significant drop in funding, they will
be able to continue the charity'5 current activitse5 while consideration is given to Way5 in which &lditional
funds may be raised. This level of reserves has been maintsined thr(￿ut the year.
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THE TUDV￿cK FOUNDATION
TRUSTEES. REPORT ICONTrNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
It is the policy of the charity that the capttal is ernployed to gr¥E an inci)me which will fund the 8rJnt5.
During the year the charity made grants in exce55 of inNE5tment incorne. The shorrfall was rnore than
made good by a £5(K>.(XK) donallon from a trustee.
All our holdings are quoted. professionally managed and diversified investment trusts. the vast m?4ority of
which have rnet or exceeded their benchmarks. They are all Showing gains over c05t. Investment
perforrnance 15 rnonitored at each trustee rneeting. Chjr obieLtives to Secure an aL¥Jve average income
with long term inflationary pr4)tecbon have been met.
Risk Is closely monitored. Our growing capital base needs to be proterted and we take the view that whilst
stock markets can show volatility in thÈ short tefm. it is the insidious devaluation ta￿$￿ by inflation that
is the long term risk. The constituents of our in4*rt￿￿nt portfolio ha¥e denjjnstrnted the historical ability
to offer satisfactory protection.
Our future plans embrace further expansion in the amount and extent of the asslstsr￿e we can giveto
those who seek to help others in our wide range of tenefits.
Strurture. governance and management
The charity 15 an unincorporated charity and is controlled bya deed of trust.
The trustees who served during the year and up to the date of signature of the financial ststements were..
C N Bennett
V R Shaiklv
J P Endacott
T C Bennett
New trustees are recruited and appointed by the existirvx trustee
The trustees met eight times during the year to monitor investment performaKe and award grants.
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THE TUDV￿cK FOUNDATION
TRUSTEES. REPORT ICONTrNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
ststement of trustee5' reswnslly1itl¢s
The tru5tee5 are responsible lor preparing the Trustees, Report and the financial Statements in accordance
with applicable law and United Kingdorn Accounting Standards (Unrted Kingdtstn Generally A¢￿pted
Accounting Practicel.
The law applicable to charities in England and Wales requires the trustees to prepare financial ststements
for each financial year which give a true and fair Vie￿ of the stste of affairs of the charity and of the
in£orning re50urce5 and application of resource5 of the Char￿ for that year.
In p￿parinEthe$e financial sratements. the trusteesare required to=
- selert suitable accountin8 wlicies and then appty them cortsistenl￿.'
- observe the methods and principle5 in the Charitie5SORP..
- make judgements and esrim*es that are wsonable and prudent:
state whether applicable accounting stsndards have been followed. subject to any material departure5
di5c105ed and explained in the financial 5tatements,' and
p￿pare the financial statements on the ￿lThE concern basis unless tt s inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping sufficient acCo￿Tr￿N1 records that disclose with reasonatrAe
accuracy at any time the financial position of the charity and enable them to ensure that the finanaal
statements comply with the Charitie5 Act 2011. the Charity (Accounts and Report51 Regulatiors 2008 and
the provisions of the trust deed. They are a150 responsible for Safeguarding the a55ets of the charity and
hence for taking ￿3$Onable stepslorthe pre%enifion and detettj.on of fraud and other irregularities.
The trustees. rewrt was approved the Board of Trustee>
C N B•nnott
Trustee
Dated.. 29 Au8USt 2025
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THE TUDV￿cK FOUNDATION
INDEPENDENT AU(XTORS REPORT
TO THE TRUSTEES OF THE TUDWCK FOUNDATION
Oplnlon
We have audited the linancial Statements of The Tudwick Foundation Ithe'charity'l for the year erxled 31 March
2025 which cornpri5e the 5tsterneTht ol financial acbvtbes. the balance sheet. the 5tsternent of cash flows and
notes to the financial statements, including signtficant accounting policies. The finantial reporring framework that
has been applied in their preparation is applicable law and United King¢*)m Accounting Standards, including
Financial Reporting Stsndard 102 The Finonciol Repothng Stondord opplicoble in the UK ond Republic ol Irelond
(United Kingdorn Generalty Accepted Accounting P￿tICe).
In our opinion. the financial statements=
give a true and fair view of the State of the charity's affair5 as at 31 March 2025 and of it5 incoming
sources and application of osoutces. forthe yearthen ended,.
have been proper￿ prepared in accordance wth Uniteil Kingdom Generally Accepted Accounting Practi￿.,
and
have been prepa￿d in accordance with the reqU1￿ments of the Charities Att 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Aud￿on8 IUKI11SAs IVKII and applicable
law. Our responsibilities under those stsndards are fvrther descriw in theAuditor's responsibilitiesfor the otsdit
of the fi"nonciol statements section of our report. We are independent of the charty ITh aCCordar￿e with the
ethical requirernents that are relevant to our audit of the financial statements in the UK, including the FRC'S
Ethical Standard. and we have lulfilled our other ethical responsibilithe5 ITh accordance with these requirement5.
We believe that the audit ewderKe we have obtained 1$ 5uffKient and appropriate to provide a basis lor our
opinion.
Conclusions relating togoinE concern
We have nothing to rÈport in respett of the f0l1frtfi￿ matters in relation to which thÈ 1&4s IUKI rquire us to
report to you where..
the trustees. use of the going concern basis of accounti￿ in the preparation of the financial statements is
not appropriate.- or
the trustees have not disclosed in the firsancial statements any identified material uncertsinties that may
£ast significant doubt about the chariws ability to continue to adopt the going concern ba515 of Lcounting
for a period of * least twefve months frorn the date when the financial ststernentsaTe authorised for issue.
Other Inforn
The other inforrnation comprise5 the information included in the annual rewrt other than the financial
ststÈments and our auditor's report thereon. ThÈ trustees are re%￿nsible fr*r the other information contained
within thÈ annual report. Our opinion on the financial ststements does not £o¥er the other informati)n and we
do not express any form of assurance conclusion thereon. Our responsibility is to read the other inbrmètion and,
in doing so, consider whether the other information is materially ir￿Onsi$lent with the financial strtements or our
knowledge obtained in the course of the audit. or othe￿ise appears to be rnaterially misststed. If we identify
such rnaterial incon515tencie5 or apparent material mi$5taternents. we a￿ reqUI￿d to determine whether this
gives rise to a rnaterial mi55tstement in the financial statetnents thernsefves. If, based tsn the work we have
performed, we conclude that there is a material misstatement of this other infrjrmation. we are required to report
that latt.
We have nothing to report in this reward.
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THE TUDV￿cK FOUNDATION
INDEPENDENT AU(XTORS REPORT ICONnNUEDI
TO THE TRUSTEES OF THE TUDWCK FOUNDATION
Matters on whkh we aro requlred to report lry excepti
We have nothing to report in respect of the following matter5 in relation to which the Charities (Accounts and
Report51 ReEulations 2CX)8 requi￿ u5 to report to you if. in our opinion..
the information ENen in the financial statements is inconsistent in any material ￿$pert wtth the trustees,
port,. or
suffi"tient accovnting re¢ords have not been kept; or
the h"nantial statements are Mt in agreement with the atcountin8 records.. or
we have not received all the infomation and explanations we require for audit.
Responsibilities of trustees
As explained more ful￿ in the ststement of trustees. reS￿)nSibIlitieS. the trustees are resrx)nsible for the
preparation of the financial statements and for being satisfied that they gi¥* a true and fair view. and for s￿Ch
internal control as the trustees determine is necessary to enable the preparation of financial ststement5 that are
free from material mi55tatement. whether due to fraud or error. In preparing the financial 5tstements, the
tru5tee5 are responsible for a55essing the Charl￿5 abiltty to continue a5 a going concern, di5c105in& a5 applicable,
matters related to Eoing concem and using the eoinE con¢em basis of accounting unless the trustees either
interid to ¢ea* operations. or have no iealisbc a￿e[native but to do $0.
Auditor's re5pon5ibilitie5 for the audit of thefinancial statemEnts
We have been appointed as auditor ￿Trder section 144 of the Chariiies Act 2011 and report in accordance with
the Att and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error. and to issue an auditor's report that include5 our
opinion. Reasonable assurance is a high level of as5urantr but is Trot a guarantee that an audit conLbJcted in
accordance with 1&4$ IUKI will always detert a material mtsststement when it exists. Mi5Staternents (an arise
frorn fraud or error and aTe consideied rnaterial if, indwidualty or in the aEgowe. they iould re*onably be
expected to influence the economic decisions of users tsken on ihe basis of these financial statements.
A further descriptton of our responsibilities is available on the Financial RÈporting Council's website at.. https..11
www.frc.org.uklauditorsre5pjnsibilities. This description forms part of our auditorfs report.
other matte
The prior period's financial ststements were not audi(ed. as the charty qualffied as a small charity in that period.
Consequently, we do not express any opinion on the comparative figure5 in these financial 5taternent&
Your attention is drawn to the fact that the charity ha5 prepared financial 5tatement5 in accordartt with
'Accounting and Rewrbng by Charities= Ststement of Recornmended Pracbce applicable to Charities preparing
their accounts in accordance with the Financial Reporting stsndard applicable in the UK and Republ￿¢ ol Ireland
IFRS 1021" las amended) in prefe￿nce tothe Actounting and Re￿rtIng by Charities.. Statement of Recommended
Practice issued on l April 2(MIS which is referred to in the extsnt regulations has now been witmrnwn.
This has been done in orderforthe financial ststernentsto provide a true and fair view in accordarKe with current
General￿AcCepted AccountinE Pracbce.
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THE TUDV￿cK FOUNDATION
INDEPENDENT AU(XTORS REPORT ICONnNUEDI
TO THE TRUSTEES OF THE TUDWCK FOUNDATION
Jocqudine FrostACA (Sonior StatU￿ry Audit(>r)
for and on behalFof TC Group
StatutoryAuditor
Offi"te.' Colchester
4 September 2025
TC Group is eligible for appointment as auditor of the charity byvirtue of its eligibility for apwintment as avditor
of a company under ofsection 1212 of the CompaniesAtt 2(K
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THE TUDV￿cK FOUNDATION
STATEMENT OF FINANaALAcTrvmES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR EPIDED31 MARCH2025
Unrestricted Unrestricted
lunds
fund5
2025
2024
Incoffl•from:
Donations and legacies
Charitable acrivities
Investments
625,2Q)
676
135.210
145,026
121,604
Total income
761,086
266,630
Expenditure on:
Charitable a¢itvities
226,931
162,029
Total expenditure
226.931
162,029
Net gainslllossesl on invesu7)ents
li
142.941
24,375
Net I￿oMe and m0ven￿ In funds
677.096
128,976
Reconciliation of funds..
Fund balances at l April 2024
2.691.661
2.562,685
Fund balances at 31 March 2025
3.368.757
2.691,661
The ststernent of financial activitie5 includes all gain5 and 1055es recognised in the year. All irKome and
expenditure derive from continuing activities.
10-
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THE TUDV￿cK FOUNDATION
8ALANCE SHEET
ASAT31 MARCH 2025
2025
2024
Flxed assets
Inve5trrents
3.227.102
2,662,866
Curr•rrt ass•ts
Debtors
Cash at bank and in hand
14
130,731
14.074
29.983
3,392
144,805
33.375
Creditors: amDunts falling due within one
year
13,1501
14.5801
Net current assets
141.655
28.795
Total assets les5 current lialmltties
3.368.757
2.691,661
The funds of the charlty
Unrestritted funds
16
3.368.757
2.691,661
3.368.7S7
2.691,661
The financial statements were approved by the trurtees on 29Au8USt 2025
C N Bennett
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THE TUDV￿cK FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR EPIDED31 MARCH 2025
2025
2024
Cash generated fromllat150rbed by)
operati0fi5
18
296,767
144,2071
IrwEstinE acknvilies
Purchase of investrnents
Proceeds from disposal of investrY*nts
Investment income ￿eNed
1664.4451
243,150
135,210
1392.4411
266.081
121.604
Net cash used in irbve5tiry acki¥its
1286.0851
14.7561
Net G4sh used infinananE acli¥itie5
Net increaselldecreasel in cash arKI cash
equivaler
10.682
148.9631
Cash and cash equivalents at beginning of year
3.392
52,355
Ca$h and ¢a5h *qU￿￿￿ts at end Of￿*[
14.074
3.392
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS
FOR THE YEAR EPIDED31 MARCH 2025
Accounting wlkles
Charlty Irrforniatlon
The Tudwick Foundation is a an unincorporated charity. gobErned by tts deed of trust.
1.1 Accounting convention
The financial staternents habE been prepared in accordance wrth the charity's deed of trust. the char￿e5
Art 2011 and -Ac¢ounting and Rew)rtin8 by Chartries= Ststement of Recommended Practice applicable t¢
Charities preparing their atcounts in accordance with the Financial Reporting stsndard 3pplioble in the UK
and Republic of Ireland (FPS 1021- las amended for accounting periods commencing from l January 20161.
The charity is a Public Benefft Entity a5 defined by FRS 102.
The financial ststements are prepared in sterling. which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial ststernents have been prepared under the historical c05t comientioTh. Imodified to indude the
revaluation of freehold properknes and to include investment properties and certain financial instrurnent5 at
fair valuel. The principal accounting w)licie53dopted are Set out below.
1.2 Golng concern
At the titne of appwn2 the ffinancial 5tstements, the trustees have a oastsnable e¥pertation that the
£harity has adequate re50urce5 to continue in operational existence for the ft>re5eeable future. Thus the
trustees tontinue to adopt the 80ing Co￿rn ba￿% of accounting in preparing the financial statements.
1.3 Charitable funds
UnrÈstrictÈd funds a￿ ￿ailable for ￿se at the discretion of the trustees in furtherance ol their charitable
objectives.
Restritted funds are subject to specific conditsons by donors of grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial ststements.
Endowrnent fvnds are subject to specific conditions by donors that the (apitsl must be maintsined bythe
charity.
1.4 Incomlng resources
Income 15 recogni5ed when the chartty 15 lewolty entitled to it after any performance Cond￿On5 haR been
met, the amounts can be measured ￿liab￿. and it is probable that intome will be received.
Cash donation5 a￿ recoBvi5ed on receipt. Other donation5 are recoBni5ed once the chaTity hès been
notified of the donation, unless performance condithons require deferral of the amount. Income tax
tovÈrable in relation to donations received underGift or deeds of covÈnant is re£ognisÈd at the time of
the donation.
Investment income is recognised when receNed.
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
Attounilng polktes
Iconilntsedl
1.5 Résources expondod
Liabilitie$ are recognised as soon as there is a leeal or ¢onstructive obligation wmmitting the tharity to that
expenditu￿, it is probable that a transfer of economic beneffits wll be ￿quIred in settlement and the
amount of the oblwation can be measured reliably. Expenditure is accounted for on an accruals basis and
ha5 been cla55ified under headingsthat aggregate all cost related to the category.
Grants payable by the charity are recognised when they are awarded by the Trustees. unless they a
awarded subject to conditions that have not teen rnet at the ￿ar end. in which case they are noted & a
cornmitment but not accrued as expenditure.
The charity tsnly ha5 olle charitable *bvity, that of 8rantrnakin& $0 all 5UPPOrt and governance costs are
allocated to that athyity.
1.6 Fixed asset irNestments
Fixed asset investments are initialty measured at transaction Pri￿ excluding transaction costs, and are
subsequentty measured at fair value at each reporting date. Changes in fair value are recognised in net
incornellexpenditurel for the year. Transacknon costs are expensed a5 incurred. Fair value is determined with
reference to publicly available price5.
1.7 Cash and ￿$h equlvalents
Cash and cash equivalents include cash in hand. deposits hehl at call with banks. other short-term liquid
investrnents with original tnaturities of three month5 or le55. and bank overdTrft5. Bank overdrafts are
shown within borrowings in current liabilmes.
Unrestricted Unrestrfrted
fiJnd$
fund5
2025
1024
Donations anil gifts
625,2CM)
145,026
Unrestricted Unrestricted
lunds
fund5
2025
1024
Grantmaklng
Unspent grants returned
676
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
Unr•strfrted Unrestdrted
funds
nds
2025
2024
IncorDe Irtsm listed investments
Interest ￿tel￿able
131.320
120,083
1,521
135.210
121,604
Grantrnaknng
1025
1024
Grant fvnding ol aCDwties (see note 61
219,1￿)
156,280
Share of supwjrt costs Isee note71
Share of governance Costs lsee note71
6,093
4,143
1.606
226.931
162,029
Grantrnaknng
The charity makes grants to institutions and indNiduals to bjrther the objects of the charity. A fvll list of
grants awarded during the year iS8Nen in the trustees. reF￿rt.
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
Support Costs allorated toacll4ryt
2024
Staff costs
5,568
137
178
210
3,486
210
187
260
Governance costs
7.741
5,749
Grantmakin
7.741
5.749
All supwjrt and governance costs have been alhxated to the charity's sole charitable acovtty of grant-
making.
Auditor's rernuneration
Fees payable to the charrty's auditor and associates:
1014
For audit 5ervice5
Audit of the financial sratements ol the charity
For othersevvice5
Audit-related assurance ser¥Kes
Trustees
NonÈ of the tnjstees lor ary persty)s connetted with them) received any remuneration or benefits fr(Th the
charity during the year.
10 Employees
The average rnonthty Trumber of employeesduring the year was..
2025
ZOZ4
Number
Numb
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
10 Employees
Iconilntsedl
Employrnent COSts
2025
2024
Wages and salar￿5
5,568
3,486
There were no employees whose annual ￿M￿neratiOn was MO￿ than £￿,(xx).
li Net 8ains/l105ses1 on in4utTh
Unrestricted
funds
¥eneral
2025
Total
2024
Revaluation of investments
142,941
24,375
12 Ta¥oti¢Jn
The charity is exempt from tsxaty)n on its acDvtDes because all its income is applied for charitable purrKJses.
13 Fixed a5S•t irNgslments
Listed
Cash in
Total
Cost orvaluatlon
At l April 2024
Additions
Valuarion changes
Disposals
2.528.401
134,465
664.445
2,662,866
664,445
142,941
1243,1501
142.941
1243.1501
At 31 March 2025
2.671.342
555.7fA)
3.227,102
Carrylng amount
At 31 March 2025
2.671.342
S55.760
3.227,102
At 31 March 2024
2.528.401
134.465
2.662,866
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
13 Flxed asset Investments
Iconilntsedl
2024
Investments at lairvalue compfise:
Listed investments
2,671,342
2,528,401
Fixed asset irNestment5 revalued
Listed investments are valued at market value by reference to publicly available unit prices. The historical
cost of the listed investments at the year end was £2.334.39712024.. £2.334.3971.
Flxed asset Investments not (athed at market valuè
Cash balances in the investment ￿rtfOlIO are valued at cost.
14 Debtors
2025
2024
Amounts falllng due wSthln one ￿ar.
Corporation tax recoverable
Other debtors
5.731
125.(
4,983
2S,((¥J
130.731
29.983
15 Credltors: ar￿Unts fallln8 due wlthln oneye8r
2025
2024
Accruals and deferred incon
3.150
4.580
16 Vnrestrkted funds
The unrertricted funds of the charity comprise the unexpended balances of donations and grants which are
not Subject to Specific conditions by donor5and grantor5 as to how they rnay be used. These include
designated fvnds which have been set aside out of un￿$tritted funds by the trustees for specih"c purposes.
AtIAwl 2024
IncorninE R•sour(e¥
Gain5 and At 31 March
lossos
2025
General fvnds
2,691.661
761,086
1226,9311
142,941
3,368,757
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THE TUDV￿cK FOUNDATION
NOTESTOTHE FINANCIALSTATEMENTS ICONnNUEDI
FOR THE YEAR EPIDED31 MARCH 2025
16 Unrestricted fvnds
Iconilntsedl
Prwous yeor:
AtIAwl 2023
G*in5 and At 31 March
1024
General fvnds
2.562.685
266,630
1162.0291
24.375
2.691,661
17 Related party transattlons
Durin8 the year the charity recei¥ed donations from trns￿es totalling E625.(XM)12024.. E145,IMM)I.
18 Cash generated from operation5
1014
Surplus for the year
677.1YJ6
128.976
Adjustments for..
Investment income recognised in stsiement of financial actiwbes
Fairvalue gains and losses on investment properhes
1135.2101
1142.9411
1121.6041
124,3751
Movements in working capital=
Ilncreasel in debtors
(Decreasel in creditors
IIIX).7481
11.4301
14851
126,7191
Cash generated fromllabsorbed by) *)perat
296.767
144.2071
19 Analysls of thanges In net funds
The charity had Tro material debt during the year.
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