DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 Charity number: 1189223 THE RENEGADE FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION CONTENTS Page Reference and administrative details of the trust, its trustees and advisers Trustees. report Trustees, responsibilities statement Independent auditors, report on the financial statements Statement of financial artivities 10 Balance sheet Statement of cash flows 12 Notes to the financial statements 13-20 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees L R Plant B E Plant D Jackson Charity registered number 1189223 Prlnclpal offlce Buckles Solicitors LLP Grant House 101 8oLJrges Boulevard Peterborough Cambridgeshire PEI ING Independent auditors SRLV Audit Limited Chartered Accountants and Statutory Auditor Elsley Court 20-22 Great Titchfield Street London WIW 8BE Page 1 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees present their report together with the audited financial statements of the trust for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019}. Objectives and activities a. Objectives and aims The trust's aims are to distribute funds in alignment with the objectives of The Renegade Foundation. The objectives of the trust are to act as a resource for young people up to the age of twenty five years living in Greater London by providing advice and assistance and organising programmes of physical, educational and other activities as a means of.. advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals,. advancing education,. relieving unemployment. providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or Social and economic circutnstances with a view to improving the conditions of life of such persons, such other charitable objects as the trustees for the time being shall in their absolute discretion determine. In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to PLJblic benefit, inclLJding the guidance 'Public benefit.. running a charity (P82)'. Achlevements and performance a. Financial position DLJring the year, the trust received a donation of shares, at fair value, amounting to £937,084 12024 £NILI. The trust plans to use existing fLJnds invested in its share portfolio to support various charities. DLJring the year, the investment portfolio generated dividend and interest income of £83,254 (2024 £76,087) and realised and unrealised losses of £95,704 12024 - gains of £282,198). This performance is considered acceptable considering the volatility of the market. Grants were made to a charity totalling £75,000 12024 - £96,000) and these are detailed in the notes to the financial statements. Total income exceeded expenditure by £803,795 (2024 £225,439) which has been carried forward in unrestricted reserves. b. Inve5trnent policy and performance The trust's current investment strategy is managed by Quilter Cheviot, a member of London Stock Exchange who is authorised and regulated by the Financial Conduct Authority. Page 2 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Financial review a. Reserves policy The trust currently has free reserves equal to the value of the trust's unrestricted funds. As overheads are low, the trustees do not consider it necessary to maintain a specific level of reserves. b. Principal funding Principal funding each year is normally through investment returns. However, during the year, a large donation of shares was received. The trustees do not anticipate similar donations in the foreseeable future and expect the trust's principal funding to return from its investment portfolio. structurei governance and management a. Constitution The Renegade Foundation is a registered charity, number 1189223, and is constituted under a trust deed. b. Method5 of appointment or election of trustees The management of the trust is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. c. Organi5ational structure and deci5ion-making policie5 The charity is managed on a day-to-day basis by the trustees who deal with all applications for grants. d. Financial risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the major risks to which the trust is exposed, in particular those related to the operations and finances of the trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. As the trLJSt has low expenditure, there is no minimLJm requirement of reserves needed to maintain the trust. The trust reserves are all held in share investment portfolios and cash at bank. Page 3 **Docusign Envelope ID: 0D078533-86F0-4308-B319-F411 FCF9E273** ## **THE RENEGADE FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025** ## **Plans for future periods** There are no concrete plans to change the activities of the charity. However, the trustees are keen to expand the ambitions of the charity when they are not as busy with working life. Although no decisions have yet been made, one area the trustees would like to advance is in environmental giving. This may take the form of donations from the trust or in the creation of a separate charitable entity. Approved by order of the members of the board of trustees and signed on their behalf by: G :r.� ## **L R Plant** Trustee 5 February 2026 Page4 **Docusign Envelope ID: 0D078533-86F0-4308-B319-F411 FCF9E273** ## **THE RENEGADE FOUNDATION** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2025** 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 trust 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; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the trust's transactions and disclose with reasonable accuracy at any time the financial position of the trust 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 trust 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 its behalf by: ## G ;;:r.= ## **L R Plant** Trustee 5 February 2026 Page 5 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RENEGADE FOUNDATION Opinion We have audited the financial statements of The Renegade Foundation (the 'charity'l for the year ended 5 April 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of 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). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Fieporting Stsndards applicable In the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Prartice effertive for reporting periods beginning on or after l January 2015. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. 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 auditors, responsibilities for the audit of the financial statements section of our report. We are Independent of the charity In accordance with the ethical reouirements that are relevant to our audit of the financial statements in the United Kingdom, inclLJding the Financial Keporting Council'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 SLJfficient and appropriate to provide a basis for our opinion. 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. Page 6 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RENEGADE FOUNDATION (CONTINUED) other information The other information comprises the information included in the annual report other than the financial statements and our auditors, report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 tnaterially 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 conclLJde that there Is a material misstatement of this other information, we are required to report that fart. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the trustees, report is inconsistent in any material respect with the financial statements. or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we reqLJire for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements which 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. Page 7 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RENEGADE FOUNDATION (CONTINUED) Auditors. 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 auditors, 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 misststetnent 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 regLJlations. 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 procedLJres are capable of deterting irregularities, including fraud is detailed below: Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the entity's industry and sector, control environment, business performance and management incentives. the results of our specific enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities. any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to.. identifying¢ evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-complianee with laws and regulations. the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. We also obtained an understanding of the legal and regulatory frameworks in which the company operates, focusing on provisions of those laws and regulations that had a direct effert on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. Page 8 **Docusign Envelope ID: 0D078533-86F0-4308-B319-F411 FCF9E273** ## **THE RENEGADE FOUNDATION** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE RENEGADE FOUNDATION (CONTINUED)** _Audit response to risks identified_ Our procedures to respond to risks identified included the following: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiring of management concerning actual and potential litigation and claims; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance; and - in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Whilst the procedures above describe the extent to which our procedures are capable of detecting irregularities, including fraud, there are inherent limitations in these audit procedures. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, misrepresentation or through collusion. We are not responsible for preventing irregularities, including fraud, or non-compliance with laws and regulations and cannot be expected to detect all irregularities or non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditors' 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 auditors' 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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. ## **Richard Gilbert (Senior Statutory Auditor)** For and on behalf of ## **SRLV Audit Limited** Chartered Accountants and Statutory Auditor Eisley Court 20-22 Great Titchfield Street London WlW 8BE 5 February 2026 Page 9 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Total Total Unrestricted funds funds funds Year ended Period ended 2025 5 April 2025 5 April 2024 Note Income from: Charitable activities Investments 937,084 83,254 937,084 83,254 76,087 Total income 1,020,338 1,020,338 76,087 Expenditure on: Charitable artivities 113,824 2,450 113,824 2,450 128,616 25 Other expenditure Total expenditure 116,274 116,274 128,641 Net income/(expenditure) before net (losses}/gains on investments Net {losses}/gains on investments 904,064 (95,704) 904,064 (95,704) (52,5541 282,198 Net income before taxation 808,360 (4,565) 808,360 (4,565) 229,644 {4,2051 Taxation Net movement in funds 803,795 803,795 225,439 Reconciliation of funds: Total funds brought forward Net movement in funds 2,184,772 803,795 2,184,772 803,795 1,959,333 225,439 Total funds carried forward 2,988,567 2,988,567 2,184,772 The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 20 form part of these financial statements. Page 10 **Docusign Envelope ID: 0D078533-86F0-4308-B319-F411 FCF9E273** ## **THE RENEGADE FOUNDATION** ## **BALANCE SHEET AS AT 5 APRIL 2025** ||||**2025**||2024| |---|---|---|---|---|---| ||**Note**||£||£| |**Fixed assets**|||||| |Investments|11||**3,015,261**||2,207,551| ||||**3,015,261**||2,207,551| |**Current assets**|||||| |Cash at bank and in hand|16|**15,845**||3,599|| |||**15,845**||3,599|| |**Current liabilities**|||||| |Creditors: amounts falling due within one|||||| |year|13|**{42,539)**||(26,378)|| |**Net current liabilities**|||**{26,694)**||(22,779)| |**Total assets less current liabilities**|||**2,988,567**||2,184,772| |**Total net assets**|||**2,988,567**||2,184,772| |**Charity funds**|||||| |Unrestricted funds|14||**2,988,567**||2,184,772| |**Total funds**|||**2,988,567**||2,184,772| The financial statements were approved and authorised for issue by the trustees and signed on their behalf by: ## **L R Plant** Trustee 5 February 2026 The notes on pages 13 to 20 form part of these financial statements. Page 11 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2025 2025 2024 Note Cash flows from operatlng a¢tlvltles Net cash used in operating activities 15 (80,401) (101,4011 Cash flows from investing activities Dividends, Interests and rents from investments Proceeds from sale of investments 64 92,583 251 67,016 Net cash generated from investing activities 92,647 67,267 Change In ¢a$h and cash equlvalents In the year Cash and cash equivalents at the beginning of the year 12,246 (34,134) 37,733 3,599 Cash and cash equivalents at the end of the year 16 15,845 3,599 The notes on pages 13 to 20 form part of these financial statements. Page 12 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 General informatio The Renegade Foundation is a charity registered with the Charity Commission For England And Wales, registration number 1189223. The address of the principal office of the charity is Buckles Solicitors LLP, Grant House, 101 Bourges Boulevard, Peterborough, Cambridgeshire, PEI ING. The principal objectives of The Renegade Foundation are to act as a resource for young people up to the age of 25 living in greater London, providing advice, assistance and organising programs of physical, educational and other activities to advance them in life. By developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. Accountlng pollcles 2.1 Ba$1$ of preparation of financial Statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 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 l April 2005 which has since been withdrawn. The Renegade Foundation 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 15 recognised once the trust 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 dirett costs and shared costs, including support costs Involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that artivity. Shared costs which contribute to more than one activity and support costs which are not attribLJtable to a single activity are apportioned between those artivities on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on dirertly undertaking the activities which further the trust's objectives, as well as any associated support costs. Page 13 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies (continued) 2.3 Expenditure (continued) Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised a5 expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 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 trust,. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Taxatlon The trust is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the trust 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 Art 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 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. 2.7 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. 2.8 Financial instruments The trust 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. 2.9 Fund a¢¢ountlng General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the trust and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Page 14 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Incorne from charitable activities Unrestricted Total Total funds funds funds Year ended Year ended Period ended 5 April 2025 5 April 2025 5 April 2024 Donations income 937,084 937,084 Investment income Unrestri¢ted Total funds funds Year ended Year ended 5 Aprll 2025 S Aprll 202S Deposit account interest Investment income 63 83,191 63 83,191 83,254 83,254 Unrestritted Total funds funds Period ended Period ended 5 April 2024 5 April 2024 Deposit account interest Investment income 253 253 75,834 75,834 76,087 76,087 Page 15 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Activities of expenditure by expenditure type Year ended Period ended 5 April 5 April 2025 2024 Donations to institutions Support costs Governance costs 75,000 29,764 9,060 96,000 28,476 4,140 113,824 128,616 Analysis of grants Grants to Total institutions funds Year ended Year ended 5 April 2025 5 April 2025 Charitable activies 75,000 75,000 Grants to Total institutions funds Period ended Period ended 5 April 2024 5 April 2024 Charitable activies 96,000 96,000 The trust has made the following material grants to institutions during the period/year'. Page 16 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of grants (continued) Year ended Period ended 5 April 2025 5 April 2024 Name of institution Fish Tank Ltd Kids N'Action Young Roots Inspire a Teen Kidshine Ltd 75,000 50,000 5,000 10,000 5,DOO 3,000 5,000 5,500 2,500 5,DOO 5,000 Happy Days Children's Charity South Downs National Park Trust The Exodus Project Sparks of Hope A Spark In The Dark Ltd 75,000 96,000 Analysls of support costs Year ended Period ended S April 5 April 2025 2024 Investment management charges Investment adviser fees 9,462 8,440 6,440 5,399 23 8,168 8,608 3,600 8,096 Accountancy fees Legal and professional fees Bank fees 29,764 28,476 A Thalysis of governance costs Year ended Period ended S April 5 April 2025 2024 Independent examiner fees 9,060 4,140 Page 17 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Average number of ernployee5 The average number of persons employed by the trust during the year was NIL {2024 - NIL). The average number of trustees during the year was 3 (2024 - 3}. 10. Tru5tee$' rernuneration and expenses During the year, no trustee received any remuneration or other benefits (2024 - £NILI. During the year ended 5 April 2025, no trustee expenses have been incurred {2024 - £NIL). 11. Fixed asset investments Listed investments Cost or valuation At 6 April 2024 Additions 2,207,551 1,030,467 (109,845) (110,462) (2,450) Disposals Revaluations Foreign exchange movement At 5 April 2025 3,015,261 Net book value At 5 April 2025 3,015,261 At 5 April 2024 2,207,551 12. Taxatlon Year ended Period ended 5 Aprll 5 April 2025 2024 Foreign tax on income suffered 4,565 4,205 Page 18 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 13. Creditors: amounts falling due within one year Year ended Period ended S April 5 April 2025 2024 Accruals and deferred income 42,539 26,378 14. Statement of funds Statement of funds - current period Balance at 6 April 2024 Balance at 5 April 2025 Gains/ (Losses) Income Expenditure Taxation Unrestrlcted funds General funds all funds 2,184,772 1,020,338 (116,274) (4,565) (95,704) 2,988,567 statement of funds - prior year Balance at 7 April 2023 Gains/ Balance at {Lossesl 5 April 2024 Income Expenditure Taxation Unrestricted funds General Funds all funds 1,959,333 76,087 1128,641) (4,2051 282,198 2,184,772 Page 19 DoGUSign Envelope ID". OD078533-86FO-4308-B319-F411 FCF9E273 THE RENEGADE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 15. Reconciliation of net rnovernent in funds to net cash flow from operating activities Year ended Period ended S April 5 April 2025 2024 Net income for the year {as per Statement of Financial Activities} 803,795 225,439 Adjustments for: IGainsl/losses on investments Dividends, interests and rents fmm investments Increase in creditors 95,704 (83,254) 16,161 7,015 17,262 (937,084) (282, 1981 (76,D871 14,852 4,233 12,360 Other non-cash expenses Management and advisor fees Donations received in the form of shares Net cash used in operating activities (80,401) (101,4011 16. Analysis of cash and cash equivalents Year ended Period ended S April 5 April 2025 2024 Cash in hand 15,845 3,599 Total cash and cash equivalents 15,845 3,599 17. Analysls of changes In net debt At 6 April 2024 Cash flows At 5 April 2025 Cash at bank and in hand 3,599 12,246 15,845 3,599 12,246 15,845 18. Related party transactions During the year, the trust received donations fmm the trustees of £937,084 {2024 - £NIL). Page 20