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2025-01-31-accounts

Charity Registration No. 1187541

THE DOWNFORCE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

THE DOWNFORCE TRUST

CHARITY INFORMATION

Trustees Dr Adam Parr (Chair)
Merrick Hugh Denton-Thompson OBE
Matthew Mungo Tristam Soggot
Charity Registration Number 1187541
CIO Number CE020425
Registered Office 34 Park Town
Oxford
OX2 6SJ
Auditor Wenn Townsend
30 St Giles’ Street
Oxford
OX1 3LE

THE DOWNFORCE TRUST

CONTENTS

Page
Trustees’ Report 1 – 4
Statement of Responsibilities 5
Independent Auditor’s report 6 – 8
Statement of Financial Activities 9
Balance Sheet 10
Statement of Cash Flows 11
Notes to the Accounts 12 - 18

The Downforce Trust

Trustees’ Annual Report

1 February 2024 – 31 January 2025

Objectives and activities

Purposes Environmental Protection and Improvement.
Main activities The promotion of low-carbon energy, sustainable agriculture, environmental
technologies, and awareness and action on climate change amongst the public and
government.
Public benefit The trustees have had regard to the guidance issued by the Charity Commission
on public benefit.

Aims

The aim of the Trust is to identify and promote activities that will accelerate action aimed to combat climate change and other forms of damage to the environment. By finding, supporting and carrying out such activities the Trust will achieve its purpose of protecting the environment.

Strategy

The Trust has relatively limited resources for such a huge challenge and so its strategy is to work with much larger organisations who can have a bigger impact – but who often are struggling for one reason or another to do so. For example, we helped establish Legislators for Nuclear and provide logistical support and funding for Parliamentary drafting. This enables members of the House of Lords to use their position to make it easier for the UK to build nuclear energy, which is low-carbon, and replaces fossil fuels. In agriculture we are working with the government of Nigeria to help it increase the use of the System of Rice Intensification, a method of growing rice that doubles yield while halving greenhouse gas emissions.

Measuring success

Each initiative has different ways to measure success; much of our work takes time and requires patience. For example, legislation on nuclear energy is an enabler of more rapid development of nuclear power generation – but there are other steps (finance, licensing, construction) that are required. With rice, if we are successful in this season’s breakthrough programme with the Government of Nigeria, the government will roll out SRI through its federal and/or state agricultural extension services. So short-term success criteria could include legislation passed or a successful rice harvest – in the longer-term it is about reducing GHG emissions from UK energy generation, and from African rice production.

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Achievements and Performance

The Trust maintained its activities in FY2025.

A. System of Rice Intensification (SRI)

The Trust has a team working to promote sustainable rice and has been nominated for the Earthshot Prize in 2025, the third year running. Further information: www.sri-2030.org.

B. Climate and Security

The Trust funded the secretariat of the All Party Parliamentary Group (APPG) on Climate, Nature & Security. The group brings together politicians with military and academic experts on the implications of climate change on the UK and international security. The APPG Secretariat operates independently of the Trust. Further information: www.appgclimsec.uk.

C. Nuclear power

Nuclear power is an established technology that can provide a stable base load of low-carbon energy in the UK to supplement the country’s growing renewables. There is an urgent need to support the UK Government’s policies on nuclear with effective legislation. The Trust provides funding to support the parliamentary group Legislators for Nuclear, co-founded by two directors of Peers for the Planet, Baroness Worthington and Lord Ravensdale. Legislators for Nuclear operates independently of the Trust. Further information: www.legislatorsfornuclear.org.

D. Downforce®

The Trust remains a shareholder in Downforce Technologies Limited (DTL) which continued to make strong progress in product development and customer success in 2024. Further information: www.downforce.tech.

E. Grants

The Trust made a grant to ClientEarth in 2025.

F. Climate litigation

The Trust continued to work on a public and private law actions to challenge unlawful government policy and private interests that cause material damage to the environment.

Plans for Future Periods

The Trust plans to continue with the programmes set out above in the coming years, as they are all ones that require sustained and consistent effort over time.

As noted in the previous Annual Report, progress on SRI-2030 was too slow and so the Trust introduced a ‘breakthrough’ methodology designed to accelerate progress by breaking complex challenges into 100-day projects. The first breakthrough was launched late in the year with the Government of Nigeria. It is showing signs of creating a new way of working. The Trust has added two SRI Breakthrough Facilitators to the team in Zambia and Cameroon and plans to recruit more of these roles in other African nations.

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Principal Risks and Uncertainties

The major risk facing the charity, and humanity, is that we are not successful in our mission. It is essential that we reduce greenhouse gas emissions by nearly half from their level in 2019 by 2030. Instead, emissions are rising. In 2024 the average global temperature increase reached the 1.5°C limit set at COP15 in Paris in 2015 and FY2025 ended with a month at 1.75°C; we are exceeding planetary boundaries and reaching tipping points that have serious consequences. The window for us to change this trajectory is 12 months less than when we reported a year ago.

Financial Review

The Trust’s accounts for the financial year are appended. The Trust holds reserves to fund its future commitments and had cash and equivalent reserves of just over £2.6 million at the end of the year. None of these were restricted. It is expected that expenditure will increase, and reserves reduce in coming years.

The Trust is a going concern.

The Trust held no funds as Custodian Trustee on behalf of others.

Fundraising

The Trust does not raise funds from the public or conduct fundraising activities.

Structure, governance and management

The Trust is constituted as a CIO whose governing document is its Constitution dated 23 January 2020.

New trustees are selected by the trustees from time to time to ensure that the trustees as a whole have the relevant capabilities and experience to oversee the Trust’s activities.

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Reference and administrative details

Charity name The Downforce Trust
Other name the charity uses Homeland Conservation
Registered charity number 1187541
CIO number CE020425
Charity’s principal address 34 Park Town, Oxford OX2 6SJ

Names of the trustees who manage the charity

Trustee name Office (if any)
Adam Parr Chair
Mungo Soggot Trustee
Merrick Denton-Thompson Trustee

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees:

----- Start of picture text -----
Signature
Full name Adam Parr Mungo Soggot
Chair Trustee
Date
13th May 2025
----- End of picture text -----

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THE DOWNFORCE TRUST

STATEMENT OF RESPONSIBILITIES

FOR THE YEAR ENDED 31 JANUARY 2025

Statement of responsibilities

The trustees are responsible for preparing the Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the accounts 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 and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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THE DOWNFORCE TRUST

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE DOWNFORCE TRUST (“THE CIO”)

FOR THE YEAR ENDED 31 JANUARY 2025

Opinion

We have audited the financial statements of The Downforce Trust (‘the CIO’) for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other matters

The financial statements of the charity for the period ended 31[st] January 2024 were unaudited.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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THE DOWNFORCE TRUST

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE DOWNFORCE TRUST (“THE CIO”)

FOR THE YEAR ENDED 31 JANUARY 2025

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act 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 includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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THE DOWNFORCE TRUST

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE DOWNFORCE TRUST (“THE CIO”)

FOR THE YEAR ENDED 31 JANUARY 2025

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for.This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Benjamin Hayes BSc FCA (Senior Statutory Auditor) For and on behalf of Wenn Townsend Chartered Accountants 30 St Giles’ Street Oxford OX1 3LE

Wenn Townsend is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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THE DOWNFORCE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2025

Notes
Incoming resources
Donations and legacies
2
Charitable activities
3
Investment income
Total incoming resources
Resources expended
Expenditure on:
Charitable activities
4
Total resources expended
Net (expenditure)/income
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Transfer of funds
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2025
Total
Funds
All unrestricted
and restricted
2024 funds
£
£
1,250,000
-
1,250,000
500,000
4,668
-
4,668
-
72,105
-
72,105
34,065
1,326,773
-
1,326,773
534,065
259,799
182,902
442,701
379,129
259,799
182,902
442,701
379,129
1,066,974
(182,902)
884,072
154,936
1,066,974
(182,902)
884,072
154,936
1,281,973
469,626
1,751,599
1,596,663
286,724
(286,724)
-
-
2,635,671
-
2,635,671
1,751,599

All income and expenditure derive from continuing operations.

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(CHARITY NUMBER: 1187541)

THE DOWNFORCE TRUST

BALANCE SHEET

AS AT 31 JANUARY 2025

Notes
Fixed Assets
Social Investments
7
Current assets
Cash at bank and in hand
Debtors
8
Liabilities
Creditors: amounts falling due within one
year
9
Net current assets
Net assets
Funds of the charity
Unrestricted funds
10
Restricted funds
11
Total charity funds		 31 January
2025
31 January
2024
£
£
67,789
67,789
2,609,110
1,679,061
19,661
8,079
(60,889)
(3,330)
2,567,882
1,683,810
2,635,671
1,751,599
2,635,671
1,281,973
-
469,626
2,635,671
1,751,599

All assets and liabilities derive from general unrestricted funds.

The accounts were approved by the Trustees on 13[th] May 2025.

Dr Adam Parr Trustee

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THE DOWNFORCE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2025

Notes
Cash flows from operating activities
Net cash provided by operations
13
Cash flows from investing activities
Interest on cash balances
Net cash provided by investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period		 2025
2024
£
£
857,944
113,481
72,105
34,065
72,105
34,065
-
-
930,049
147,546
1,679,061
1,531,515
2,609,110
**1,679,061 **

The notes to the accounts are shown on pages 12 to 18.

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2025

1. Accounting policies

1.1 Charity information

The Downforce Trust is a Charitable Incorporated Organisation (“the CIO”) with registration number 1187541 and was registered on 23 January 2020 in England. The Downforce Trust’s governing document is its constitution which covers a wide range of areas including charitable objects, trustee meetings, recruitment of trustees, recruitment of members, roles of responsibilities of both members and trustees, dealing with issues and conflicts of interest.

1.2 Basis of preparation

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 and the Charities Act 2011.

The accounts are prepared in pound sterling, which is the functional currency of The Downforce Trust. Monetary amounts in these accounts are rounded to the nearest pound sterling.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

1.3 Public benefit entity

The Downforce Trust is a Public Benefit Entity as defined by FRS 102.

1.4 Going concern

The CIO is reliant on generating income from investments and donations. On the basis of this income and the ongoing activities of the CIO, the Trustees are of the opinion that there are no material uncertainties that the CIO's activities are able to continue for the foreseeable future, being twelve months from the date of approval of the accounts and therefore have prepared the accounts on a going concern basis.

1.5 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.6 Incoming resources

Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations and income are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Interest on deposit funds held is included when receivable and the amount can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank.

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

1.7 Resources expended and allocation of support costs

All expenditure is recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs related to that category. Charitable expenditure comprises those costs incurred by the CIO in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

The cost of overall direction and administration of each activity, comprising the staff cost and overhead costs of the central function, is apportioned based on staff time, of the amount attributable to each activity.

1.8 Financial Instruments

The CIO 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.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.10 Social Investments

Social Investments in subsidiaries and associates are measured using the cost model at cost less impairment. The statement of financial activities includes the net gains and losses arising on disposals of investments throughout the year. Realised gains and losses on disposal are calculated as the difference between sales proceeds and their purchase value. The CIO does not acquire put options, derivatives or other complex financial instruments.

1.11 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 due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

1.12 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13 Pensions

The CIO operates a defined contribution scheme. The obligations for contributions to the scheme are recognised as an expense in the period they are incurred.

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

2. Donations and legacies

Alexander Mosley Charitable Trust 3. Charitable activities Sales within charitable activities

3. Charitable activities

Unrestricted Restricted Total 2025 2024
£ £ £ £
1,250,000 - 1,250,000 500,000
1,250,000 - 1,250,000 500,000
Unrestricted Restricted Total 2025 2024
£ £ £ £
4,668 - 4,668
 -
4,668 - 4,668 -

4. Analysis of resources expended

Current year
System of Rice Intensification (SRI)
Downforce® Software
Education & Research
Nuclear power
Climate and Security
Climate Litigation
Charitable activities
Prior Year
System of Rice Intensification (SRI)
Downforce® Software
Education & Research
Nuclear power
Climate and Security
Climate Litigation
Charitable activities		 Direct
costs
Support
costs
(note 5)
Grant
funding of
activities
Total
costs
£
£
£
£
138,116
4,280
-
142,396
-
-
-
-
-
-
37,910
37,910
16,604
1,426
-
18,030
61,462
1,426
-
62,888
121,477
-
60,000
181,477
337,659
7,132
97,910
442,701
Direct
costs
Support
costs
(note 5)
Grant
funding of
activities
Total
costs
£
£
£
£
189,904
3,156
-
193,060
-
-
-
-
-
-
-
-
66,169
850
-
67,019
87,826
850
-
88,676
30,374
-
-
30,374
374,273
4,856
-
379,129

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

5. Analysis of support costs

Current year
Basis of apportionment
System of Rice Intensification
(SRI)
Allocated on time
Downforce® software
Allocated on time
Education & Research
Allocated on time
Nuclear power
Allocated on time
Climate and Security
Allocated on time
Climate Litigation
Allocated on time
Charitable Activities
Prior year
Basis of apportionment
System of Rice Intensification
(SRI)
Allocated on time
Climate and Security
Allocated on time
Nuclear power
Allocated on time
Charitable Activities		 IT
Governance
costs
Total
£
£
£
493
3,787
4,280
-
-
-
-
-
-
164
1,262
1,426
164
1,262
1,426
-
-
-
821
6,311
7,132
IT
Governance
costs
Total
£
£
£
1,362
1,794
3,156
367
483
850
367
483
850
2,096
2,760
4,856

Governance costs comprise £nil (2024: £500) of independent examination fees; £2,500 (2024: £nil) of audit fees; £2,135 (2024: £980) of other accounting fees; £1,230 (2024: £992) of insurance costs; and £447 (2024: £288) of bank fees. No support costs relate to grant-making activities.

6. Analysis of staff costs and key management personnel

Wages and salaries
Social security costs
Pension costs
Health insurance		 2025
2024
£
£
76,500
85,000
3,090
3,900
3,825
4,197
304
364
83,719
93,461

The charity trustees were not paid or received any other benefits from employment with the CIO or its subsidiary in the year (2024: £nil) neither were they reimbursed expenses during the year (2024: £nil).

The average number of employees during the period was 2 (2024: 2) and these staff were all employed to undertake direct charitable services.

No member of staff (2024: nil) received greater than £60,000 in total benefits from the CIO during the year.

The CIO operates a defined contribution pension plan. During the year, £3,825 (2024: £4,197) was recognised as an expense in relation to this plan. £596 (2024: £563) was payable to the pension scheme at the balance sheet date.

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

7. Social Investments

Cost
At 1 February 2024
At 31 January 2025		 Associate
Total
£
£
67,789
67,789
67,789
67,789

All amounts relate to investments in shares of Downforce Technologies Limited (“DTL”), a company limited by shares, registered in England, with registered number 12987689 and whose registered office is 7 Albert Buildings, 49 Queen Victoria Street, London, United Kingdom, EC4N 4SA.

The investment is classed as a Mixed Motive Social Investment, held partly for financial gain and partly for the furtherance of the Charity’s aims. At the year end, the CIO held 42.5% (2024: 42.5%) of the ordinary share capital of DTL.

If the investment were accounted for under the equity method, the carrying value would be £nil (2024: £nil) due to losses incurred by DTL during its R&D phase, and the uncertainty of the future profitability of DTL. No dividends or distributions have been received from DTL.

8. Debtors

Accrued income
Other debtors		 2025
2024
£
£
4,668
-
14,993
8,079
19,661
8,079

9. Creditors

Trade creditors
Other creditors
Accruals
Other taxes and social security		 2025
2024
£
£
451
120
596
563
57,730
500
2,112
2,147
60,889
3,330

Other creditors comprises pensions payable of £596 (2024: £563) which were paid shortly after the balance sheet date.

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THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

10. Unrestricted funds

10. Unrestricted funds
Current year
General fund
Prior year
General fund
11. Restricted funds
Current year
Climate Litigation
Prior year
Climate Litigation		 Balance at the
start of the
year
Income
Expenditure
Transfers
between
funds
Balance at
the end of the
year
£
£
£
£
£
1,281,973
1,326,773
(259,799)
286,724
2,635,671
1,281,973
1,326,773
(259,799)
286,724
2,635,671
Balance at the
start of the
previous year
Income
Expenditure
Transfers
between
funds
Balance at
the end of the
previous year
£
£
£
£
£
1,596,663
34,065
(348,755)
-
1,281,973
1,596,663
34,065
(348,755)
-
1,281,973
Balance at
the start of
the year
Income
Expenditure
Transfers
between
funds
Balance at
the end of the
year
£
£
£
£
£
469,626
-
(182,902)
(286,724)
-
469,626
-
(182,902)
(286,724)
-
Balance at
the start of
the previous
year
Income
Expenditure
Transfers
between
funds
Balance at
the end of the
previous year
£
£
£
£
£
-
500,000
(30,374)
-
469,626
-
500,000
(30,374)
-
469,626

The Climate Litigation fund was a donation received from The Alexander Mosely Charitable Trust for use on challenging unlawful government policy and private interests that cause material damage to the environment.

During the year, the donor agreed that the remaining unspent funds may be unrestricted and used for general charitable spending on any of the charity’s aims, or to fund general overhead expenditure.

12. Related party transactions

There are no related party transactions to disclose for 2025 (2024: nil).

17 | T h e D o w n f o r c e T r u s t A n n u a l R e p o r t 2 0 2 5

THE DOWNFORCE TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

13. Reconciliation of net income to net cash flow from operating activities

3. Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period (as per the statement
of financial activities)
Adjustments for:
Interest income
Increase in debtors
Increase in creditors
Cash generated from operations		 2025
2024
£
£
884,072
154,936
(72,105)
(34,065)
(11,583)
(7,756)
57,560
366
857,944
113,481

18 | T h e D o w n f o r c e T r u s t A n n u a l R e p o r t 2 0 2 5