R•gist•rna nIHnr. 12337962 Charity numb•r'. 1188487 THE DOWNING FOUNOATION UNAUDITED FINANCIAL STATEMENTS YEAR E140ED 31 MAY 2025
THE DOWNING FOUNOATIOM CONTENTS R•f•r•nce4nd AdmInI•Il¥ D•tsil¥ ollh• Ch•rfty. Il• Tn*t•M •nd AOvl••r• Ind•p•nd•nt •xarnln•rf4 r• stst•m•nt of Fln•n¢l•l A¢tb¥6tl•• B•l•nc• Sh••t Noi•• to th• Fln•nclal 81•t•m•nts 7.12
THE DOWNING FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. IT8TRU8TEESAND ADVISERS FOR THE YEAR ENOED 31 MAY 2025 Tnto•• Stephen Compson Paul Harbard NthoL4s Leais ¢h•rty r•glthrnd 1106407 Comyny r•gSBt•r•d 12337962 Prln¢lp•l ¢)fflc• 10 Lts%brTh•m•s Str•Ot LOr¢)n EC3R &4F Pag• I
THE DOWP4114G FOUNDATIOM TRUSTEES. REPORT FOR THE YEAR ENOED31 MAY2025 The Trusiees tho are aLqo dife(Xo¥s of the clwity for Ihe pUOSe5 of the Companies Aci 2006, pr88ent their annual POrt wth the financ1 statements of Ihe chanty for the year ended 37 May 2025. The annual report serves the PU0$e of both a Trustees, report and a d1clOr$. report under Company law. The Trustees Aave adopted the provi5+0ns of AOub.n9 aThJ Reyting by Charities Statement of Recommended Practs'te ¥ppIK•bk ¢haritie¥ wepanng their accounts tn Kcwdance with the FirwKwl Rewbng Standaid awicable in the UK and R•publiG of Ireland IFRS 1021 leff¢ctsv¢ 1 January 20191. STRUCTURE. GOVERNANCE AND MA14AGEMENT Gov•mlng L)ocum•nt The Downlng Foyndabon is a rnpany limrted by guar¥rte• 9ry4•med by ts Memorandum and Art1•$ ol A880¢Wi¢)n tjaiea 20 No¥emoef 2019 ao memtyer 1$ otrwnirw LLP. Publ1¢ lJ•n•fft In annIng the chanty's •ctMtiei lor the yew, the Twsteu corrWd t•Ath the requirements ol $17 of the Chant1 Act 2011 to hMI duE vegard to the benefft guKlan¢e pubwied by the Charty Commi$•1. Appolntm•ntof Tnt•t• Iru$toe$. Intyuoir4J chair of the trusteei. are nomiii¥lwl by Duthitiiy LLP by servi noiKe in to The D¢)wning Foundatson purJu•nt to Artyde 25 of The t)¢ing Found•tson'¥ Arbdei ol As¥oc¢ati¢. Any new Trustees are Inducted by being gNen a bnel history of ihe thanty. a summary of its ¢urr•nl and planneil actsvities and appropnate Iraming In selecthg Individuals lor aprointment a8 TrLtst••s. the TN$ivs have regard io the •killi. knu4•1edge •nd e¥4xnenc• requwed for the eifecth adrninistrab.on of the ¢h•ntsbl¢ ccfflpany. Th• tru•tt•• •wv•d durir4 It y•r ¥ThJ rK• lh y•i eThJ fftrv. Stephen Compson Patsl Harbard Nicholas Levlii Jarnes WeaT 08JECTIVE3 AND ACTIVITIES The purposes ofthe chanty is to rai lunds and donatMs and 9rants to chantable cauw ¢hM•n ty the Staff ofthe Ou4ning LLP group. ACHIEVEIAENTS AND PERFORIAANCE Donatn3 receNed during the y•ar totalled É439.13912024- £11.7231. The ¢Jonatson$ will be forornyard donatH)n for chant4bl• ¢4usu tho¥•n by th¢ Iw$t•e$ dffe¢torn and slaff of l)owning LLP. FINANCIAL REVIEW Dunng the year Ihe ¢h•nty gen¢ ¥ iwplus of £105.254 12tr24 - £40.579 defitl. Total donation$ of £326.486 12024 - £52,206) tre made to chantable organisaDon5 dunng the year. At the balance sheet unrestncted fvnds lotkd £177.21812024- £71.9641 and tnC(ed lunds totalkd £nil 12024 - £nil). RESERVES POLKY The charity htha uniestricted restThes of £777.218 12024 - £71.9641 il$ al 31 May 2025 ThE tharrty aimo t mwntain reseNes to co¥er the running costs of Ihe chanty nt level of r¢seNe$ af $uffi¢ient for Ihe chanty to continue to carry out rts Charrtab a1t*S Reser¥es of £10,000 a helj lo Cover admirt ¢oyts #nd the remainin4 rtSLYves wll be distributsble to bentficianes. Page2
THE DOWNING FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THEYEARENDEO 31 IAAY2025 TRUSTEES. RESPON81BIUTIES STATEIIENT The Trusiees (v1 a also OireLfs of The DIY9 Founday¢xi Irv4bllAe purposes Of ¢(ffirty iawi are responsible fof prepwing Ihe Trnslees, Report and the financial statements in accordance wth applicable law and United ngdoM Accounbng Standards Ilhe Unrted lthngdom Generally Accepied Accounts'ng Practie•l. Ctynpany law qUireS the Truslees to wepare finon¢ial statemenls for tr¥¢h finantJal year Under ¢ompany w. the Trustees must nol approve the financial slatements unle95 they are satssfied Ihal they give a twe and flir view of the state ol affatsrs ol the chartrtable compary and of the incoming re50urce$ and applicatn of resources. including the inc{e and expendrture of the thwilable company tr that penod. In theso flnanck41 ststements, the Trustees are required to." set SUrtab accovnbr#J policies and then aththem Co1.. observe the methods and pnwples in the chant SORP." make iudgrnent¥ ¥nd acgwntsng eSDm8t that are 08nble and wudent, state vknether app¢icab UK Accounbng Standanls have been foll¢y41d, wbit to any nri&l departures disdosed and •xtyasn•d in tm finarLa1 slalem•nts," prepor th• financ1 st/lrn•nts ¢yi the going conrm baJi uh• il li in•ppropri#t• lo presum• tht th• chantable company wll conbnue in IveratH. select SUrtab accounbrvJ polioe5 and then apply thern The Truslees are r•sponsible keepin9 adequate accounting records ihat are sufficient to show and explain the chantable cornpany'5 tr#n5n3 Ind di3thJse v•rth reasonatye •¢T0¢Y al •ny bme the finon¢ial Position of Ihe tharrtable cornpany and enab them to ensure thai the firt#ncial ¥tOtemtrn¢s ¢omply wlh the Comp•nie¥ AGt 2006 They are rewonjible for >Jlegywding Ihe •¥•et• of Ihe ¢h•ni•bl¢ MpanY •nd hence lor taking reasonatAe itep5 for the preven1K and detecb'on of fraLKI #nd other irr•gul¥rib•s In p(•p8ring Ihi$ f•Wt. the Trusle•s hov• tsken •dnI09• of lh• vnall c¢mrieS exwnpb"on$ ryovidgd by ¢tn 415A of lh• 2006. pprov•d by Ord•r0ft m•mb•rn olthe bo¥d ofTnJths iigned thth'r hh•Nty.' J•m•• W••v•r Chair ofTwstee• Page 3
ThE DOWNING FOUNDATION INDEPENDENT EXAPAINER'S REPORT FOR THE YEAR ENOED 31 MAY 2025 lrnhp•ndont Examln•rfs Report to th• Tr10 of Th• Downing Foundatlon Ilh• CharSty I to th ¢h#ftty Truste w my examatrOn oftt o¢¢wn¢¥ ofthe Chanty lor ihe year ended 31 May 2025. R••pornlbllltlM and 8••h ol R•pNI Ihe TNst¢e8 of the Chanty lar•J rts diredors for tm pwpw8 of you are rewsible for the pr¢par• olth• •¢¢ounts In aceordanee Ihe requirements of th¢ ¢omwrbie8 Ad 2006 Iyhe 2006 #¢t'i. Havin9 SOb"8fi¢d mysem Ihat th• accounts ofth• Charity oo not reqUid to be audited under Part 18 olthe 2006 Act and a eligible for In(Jependent e¥aminatK)n. I rewt in respect of rny eXaMinatn ol the Charity's aCcunt9 carried out under sectson 145 of the Chanls Aci 2011 llhe 2011 Acri In carrying 0(rt my examinatKJn I have Idkh¥ed the owec1n$ gNen ty the CrtY CtynmrMK>n wKler secton 14515)Ibl ofthe 2011 Act. The Chanty'$ gross inwne ex¢¢eded E250.000 and l am quolthed lo undert•ke the exminabon by bekng # oualifi¢d member of thè Instrtute of Chartred A¢o)untsnts in England & W¥les. I have completed ry exarninaiw I c4Mffjryn that no matenal rnatters have c¢Th to my •tt•ntion in CA)nn•¢tton vthh the examination giving me cause to believe that in any matwial rewect.. a¢Unbn9 r•¢ord8 wr• ncl •pl in th 3e8 rftr COMnth kt.. or 2. the accounts do not accord ¥wth th •Cuntyng records", or 3. the accountg do not cornply t•th the relevant xcountiNJ requir•rMnt4 of Metion 396 01 th• 20C Aet other ihan any requirement Ih•i the accounts nd fwrf ¥iewhKh iry not a matter considered as part of an Independent exarninabon.. or 4. Ihe ounts have not teen prepared in •coyd•n with the melhods and wnaples of the Stalernent ol R•¢ommen¢J•d Pra¢bce for aecounljng and fIrting by charrts18pphrabkn to cntIeS preparing th•ir ¥¢¢ounts In accordance YAth the Financial Rerothng Sxnrt4rrf pplirAhle in the UK and Republic of tre10r IFRS 10211 I h¥¥e no ¢on¢erni and havt come •¢foM no olher m•tter5 in ¢onnecbon vmth the examinabon lo which attention should be drawn in this in kyder io enats a proper undersianding of the accounts to b• rnached. Thi8 report is made Jolely 10 Ih? Chonty'i Trustees. # • body. in occordarKe wih Part 4 of the Chantses IA¢¢ounts and Rportsl Re9ulab"ons 2008 My ha$ been undertaken $0 th•t I might state to the Ch¥rity'3 Trusteei those mattern l am required to state lo them ift an Indepensjent Examinerf5 Report and for no other purpose. To the ful$t extent pennrtted by LAW, I do accept or assume 81b11 to anyme other than the Chanty ¥TrJ the Charity's Tru5tee3 a$ a l>)dy. for my vrk or for Ihis report. signea. Hra P•tel ACA Lubbock Fin• LLP Chartered Accwntanis & Statul¢My AdIl Paternoster House 65 St Paul'$ Churthyard London EC4M BAB D41e¢l' 20 May 2026 Page 4
THE DOWNING FOUNDATIOK STATEMENT OF FINANCIAL ACTMTIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENOEO 31 MAY 2025 RMtrl¢t•d UnmtrS¢t•O fvnd# Tolal fund• Totsl lund8 2025 2025 2025 2024 Ineom• frrm: Oonations and 207.545 231,594 439.139 11.723 Tot•1 In¢om• 207,545 231.594 439.139 11.723 Exp•nalr on: Charitable actsyil 210.410 210.410 123.475 123.475 333.885 333,885 52.302 52,302 Totsl •Mp•ndltur• N•t l•Mndr•yInGOM• Trnnlfer between lundi 12.8651 2.865 108,119 12,8651 105,254 140,5791 N•t mov•m•nt In fun 105.254 105,254 140,5791 R•conclllatlon ol fund•: Toil fundi brwglrt forw• 71,9e4 71,984 112,543 N•t mowm•nt in lundi 105.2S4 105,254 {40,5791 Totsl fvnd• uftl•d forwrd 177.218 177.218 71.964 The Stknmntol Fin•rKial Activit irKlud•s all gains arKI1088tt rncoonM•d in the year. Th• not•s on pwJe$ 7 to 12 lorni p•rt olt1 fffi•rtso18tst•mwrts. Paotr 5
THE DOWNING FOUNDATh BALANCE SHEET REGISTERED NUIIBER.. 12337982 AS AT 31 PAAY 202$ 2D25 2024 Curr•nt a8J•ts Cash at bank and In hand 234,611 234.611 75.264 75,264 Creditors.. afflounts lalling due rthin t) year 157.393 13,300 N¥L currenl assets 177.218 177.218 71,984 71,964 Totsl n•t ••8•ts Ch•rfty fvndl Iestncted Unre•bl¢t•a 177.218 71,964 Totsl fund• 177,218 71,964 The Ch•itywas entilled lo exemplw)n authl under 477 Cotry)•niM A¢t 20(k8. The rnembws have not requifed th• conyny to obL9iI an a11 for thè y••r wi queition in •¢cord•n¢o with se£lKJll 470 of CorpanIe• ki 2006. The Twstees acknovAedge their 8pM..18 for Cl>my1n9 Ihe r•wirernents ofth• Act wrth respect lo a(£ountino f•cords and prnpafalth offinancAI statements The financKal ststemnts have been Ted in KCOTdance wilh the pro¥MThs apble to ente* subject to the small Cornn regim•. The finana•l $tst•ments Ir• apwo¥•d and by the Truste•s $gned on th•ir behaNty'. Jim•# (Chairof v•r wsteesl The notes on page5 7 to 12 part of ihose finants•l statem. Paue 6
THE DOWNING FOUNDATIOM NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 IAAY 2025 AccourhllEvJ 1.1 8a•l• of prnparnlkn of financlal •tai•m Th¢ fin8n¢ial •t4n¢S ha¥¢ bwi prepartyl in awKdance Ihe Charlties SORP (FR3 1021 . Ac¢ounling arKI Reporting by Chonbe$ Ststemenl of Recommendd Practic¢ applicable to chants'es preparing their xcounts tn accordance wth the Finanrjal Reporbng Standard p1¢able in the UK and Republ of Iland IFRS 1021 leffecbve 1 Januxry 20191. Ihe Finanual Rèpo.#0 Stsndafd applicable In th• UK and Republ of Ireland {FRS 102) and the Chantses Act 2011 and the Compan 2006. I n• i)cpAnin9 Fwnaatth m¢• l•fjnrtn of a benefrt entsty uThler FRS 102. Ass9 and ab11rt8 ar• In.01 r¢¢wrfed •t hwtM"¢ c¢st Of transaclm valu• unless oiherni9e 8tated in the r•vant a¢counts"ng policy 1.2 CompAry Slatt The Ch•ritsW• clxnpqny il • ctynp#ry lffiithd by gu•rnrt••. Th• m•mb•rn of th• wnp•ny ar• th• Tw8¢$ rtamed on page 1. In the vent of the Charrtabkn ¢ompany being %Und up, the liatslty in respect ofthe guafantee is limrted io £1 per member of the Chontabkn company. Tho regitornd office •ddreM i• 10 L¢yYèrTh•m•• Str••t. London. EC3R 6AF. 1.3 In¢orn• All in¢om• is reo)gnised on¢¢ the Charty has •nbt¢em•nl to Ihe Income, rt is probable ihat the income wll be receivtd nd the •mouni ol irtome rixeNabt• be m••$ured rèliably. Oonavons are recognised •8 Inconhry fien rece+¥e¢l. except kn drMInC•s the specifies the bme penod that the relates to, in ca they are re¢ogntsed •$ Income In Ihat pentsa. 1.4 EXpondIrn Expermlrture is nised once fvre is • legal (Y c¢mstructy"¥e oblwolion lo Iran8l•r economi¢ benefii to a thi paty. rt Is wobatye ihat a tran•fr ot 0•$ vnll b• r¢guirnd In •eWement and the amount of the obtigabon Can be meosvred rlobly. EXndrtUre is clavJified by 4c¢ivity The o>)51J of each aclmty •rtr m•de up of Ihe tolal of dir•ct costs and shar•d cos18, induding $upport costs in¥ofved In uThJ•rtaking athvty Direct c31$ attnbutable to a single •ctivty are allocat•d dir•dy lo that actsty. Sharnd costs conthtxjle to more than one activity an¢1 support costs thich are not attnbulable to a single actNrty •rt OPPOt•oned beh%en tho EXPendrtU charilabte actmties is in¢urred on diredy undert¥knng IM 8¢bv4ts1$ furth•f th8 Chanty's objects'ves. as 11 as any aMcKled 5UPPOrt costs. AJI •xwndrturn is indusfft of wr¢¢ov•rab* VAT. Page 7
THE DOVINING FOUNDATION IIOTES TO THE FINAIICIAL STATEMENTS FOR THE YEAR EI4DED 31 IA4Y 2025 Aeeountlng poll¢l•• {eonllfthdl 1.$ Fund •¢¢ounlltVJ General lunds are UnréstrK furth ¥thKh •r• a¥•la tr use at the ol the Tru$l8e8 In fvrtheran¢e of the general obJe¢¢we$ of the Ch•rty 8nd have not been designated lor other Restricted fvnd$ are lunds lbthieh are io be used in aecordance s[ffic $trln$ imposed by donors or vthich have been raised by the Chanty lof parbctslar PUfPOS•$. The ¢o$t$ of raisin9 and •dmin¢it•nn9 ueh frJnd8 ar• char9•d against th• spwfi¢ lund. Th• •im •nd ot ••¢h r•itn¢t•d fund is sel out In Ihe notes to Ihe finanual statements. 1.8 C••h •t b•nk •nd In h•rnl Cash at bank and in h¥nd ir#Yu¢Jes Cash •rwJ thyt-tenn hwJhty liquid investments wth a short malurty ol three months or less from the date ol aCquisitn or opening ol the dePlt or $imilar 1.7 Ll•blllll•• nd wovl•lM• Lbilths ar• r•cognised ¥4tsn th•r• Is an oblgatth at th• 8aknc• Sh••t d as a r•surt ol ¥ palt event. rt is probable ihal a transler of economK benefit Will be reqlb1 Ln ¢vement. and the amounl of the setyemeni can be eslt'mthd reb'abty 1.8 FIn•Ill Th• Chaiity only ha• fin•ity ••18 and bln•ncy•l li•tilitiM of • ki th•t qu•lrfy 4• b•#ic fin#nei#l In$vumvnts 6851¢ finan¢1 Inslrumnts are inrtwlty rwnwed ai trangactson value and b$equenty me8$urnd at trlr 8eiuem?nt vdue wtli Vi# VIv[wil of bai)k loans whKh a •ubsequenty MeUred #t anvliwl cost usiThJ the effectNe int91 methDJ. Incom• from don•tloM •nd R••tri¢i•d Unmtrlct•d nd# fund¥ 202S X125 Tolal fund• 2024 fvnd¥ 2025 207.545 231.594 439,139 11.723 Total 2024 8,143 3,$80 11.723 PagÈ 8
THE DOWNIPIG FOUNDATION NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Analy•l• of •xp•ndllur• on ¢h•rlt•tts•thttl•• Sumrnary by fund typ• R•gtrlct•d Unmtrlct•d ndl fund• 2025 Total 2D2S 2024 GT*nts payable 210,410 123.475 333,885 52.302 Total 2024 10,776 $2,302 And1¥ ol•xp•ndltur• by •ctl¥lU Ac¢l¥rtb•• und•rt•k•n Tot•1 nds 2025 Tot•1 nds 2024 ¢osts 2025 2025 328,486 7,399 333,88S 52,302 Total 2024 52,302 An•ly•l• oldlr•ct co•ts Tol•l fund• 2025 Totsl lund• 2024 A¢tl¥lti 2025 Granls payabl• 326.486 328,486 52.2C Totsl 2024 For the year ende(131 May 2025 grants to InStrtutn5 totalled £326.486 and grnnts to indNidu¥ts t•ld £0. The giantsv•pre rnade io $upwt a ¥aFiety ofdrNerenl c•Js•1.
THE DOWNING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MAY 202S Alykn of •xp#nditurn byaetivlllth An1 of•upportco8ts Total fiJnd• 2025 Total fvnds 2024 Actl¥ltl•• 25 Prof•Mional fe Bank charges 7,360 39 39 7.399 7,399 Tol•l 2024 Th•r• r• •mploy••• during lh• C4Wf•rrt typY••r Tru•t•M' rnrnun•ratlon and •xp•M During th• year, no TNl••8 r•c•v•d any r•fflun•raI or (ther b12024 . £NILI. During lh• yMr•nded 31 M•y 2025. r Twe• expen¥ h•¥• Ixen InrAwr•d12024. £NILI. Cr•dltorn: Amounts f•lllng du•*lthln orv¥ y•w 25 2024 57,393 3,3ty) P4e 10
THE DOWNING FOUNDATION NOTESTO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 IAAY 2025 3tatsm•nt offund• stst•m•nt offvnd•- curr•nt yw B•l•n¢• •t 1 Jun 2024 Trnn•f•rn Inlout Balanc• at 31 May 2025 In¢om• EXp•ndIrn Unrn•trlcl•d lunds General funds 71.984 231.594 {123,4751 12.8651 177,218 RMtrlct•d lund• Rerta lund¥ 207.545 1210.4101 2.865 Tot•1 of fund• 71.964 439.139 1333.885) 177,218 3tst•m•nt offund•. prlory•w Tr•n•f•r• Inlout 8•l•nc• at 31 IAay 2024 Jwi 2023 Unr••trl¢t•d lund• Gen•ral furd$ 112,S43 3,S80 141,5281 12,8331 71,984 RMtrkt•d fund• ReslriG¢e(I funda 8,143 {10,7761 2,833 Totsl oflun 112,543 11,723 {52,3021 71.964 RMtrlct•d Fwrtl The r•$tri¢thd lund re to fun(Ir•iwNJ I¥t r¥w411 lo pro¥th gr lo tth• gp8dfi¢ thorttabl• organisations. Fund Trnn•f•r An arnount of£2,886 wastransf•u•d from Unres1 funds to lInC1ed fvnds to culer an oKryend.
THE DOWNING FOUNDATION NOTESTO THE FINANCLAL STATEIIIENTS FOR THE YEAR ENOEO 31 IAAY 2025 An•ly•l• oln•t••••ts b#ti•n lun Analysi• of Trat •ss•ts b•lvM•n lund•.¢wr•nt Unrn•trb¢tsd Total lunds 2025 202S 234,811 IS7,3931 234,811 157.3931 Cr•drtorn du•vAthin on• y•w Totsl 177,218 177.216 A18 of n•t•u•t• b•twn fund•. prforwlod nd8 2024 2024 75.264 13,3001 75,264 (3.3001 Credrtorn due¥fflthm one year Tot•1 71,984 71,964 R•l•t•d p•rty tr•nuctlo Dunng the year donations totalling £226.011 12024 - £551 reces¥ed from DI>ing LLP the sole member ol the tanty and E205.114 12024- nil) ¥rt re¢•Neii from Owing Corporatts F¢n•n¢• Limild. of thich trusiee NholaS Le•*is is • director Pw12