REGISTERED CHARITY NUMBER: 1189984 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31st March 2025 for THE PHILIP & CONNIE PHILLIPS FOUNDATION THE PHILIP & CONNIE PHILLIPS FOUNDATION Contents of the Financial Statements for the year ended 31st March 2025 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|5| |Independent Examiner's Report||6|| |Statement of Financial Activities||7|| |Balance Sheet||8|| |Notes to the Financial Statements|9|to|15| |Detailed Statement of Financial Activities||16|| ## THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Report of the Trustees ## for the year ended 31st March 2025 The trustees present their report with the financial statements of the charitable incorporated organisation for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## OBJECTIVES AND ACTIVITIES ## Objectives and activities for the public benefit The purposes of the Foundation are to further the charitable intentions set out in the wills of Philip and Connie Phillips, who were both long term residents of Kent. The Foundation makes grants to support charities in the county who demonstrate their impact in the following areas: - Elderly and isolated - charities working with people who are elderly and isolated, particularly in rural areas. This may include activities to help improve people’s lives, or meal services, befriending, advice or other support. - Supporting people’s physical and mental health - charities who support people living with disabilities and long-term health conditions, as well as supporting peoples’ mental health. - Homelessness - charities who help people who are homeless, lack stable accommodation or are in insecure or vulnerable housing. - Strengthening local communities - charities that aim to improve people’s health and wellbeing. This could include providing access to services, supporting people and families facing financial hardship (such as foodbanks and debt advice) or helping to combat isolation (such as befriending services or social inclusion projects). The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the trust's aims and objectives, in planning future activities, and setting the grant making policy for the year. The trust furthers its charitable purposes for the public benefit through its grant-making policy, which focuses on the aforementioned areas. ## Grant making policy The Foundation has established its grant making policy to achieve its objects for the public benefit. It aims to improve the lives of those in Kent who are impacted by poverty, with a focus on the four key areas highlighted earlier in this report. The policy is reviewed annually to ensure that it reflects the charity's objects and thereby advances public benefit. The Foundation invites applications from charities for grants via its website. Eligibility is restricted to include only charities operating in the county whose objects are aligned with those of the Foundation. ## ACHIEVEMENT AND PERFORMANCE ## Monitoring performance Successful applicants are required to complete monitoring information which is reviewed by the trustees. This ensures that the funds awarded were used appropriately and strictly for the purposes requested in the grant applications. The performance of the investment portfolio is reviewed regularly by the board of trustees, members of which hold the relevant qualifications and experience to do so meaningfully. Page 1 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Report of the Trustees for the year ended 31st March 2025 ## ACHIEVEMENT AND PERFORMANCE - continued Grants data Three grant-making rounds were held in the period: April, June and November 2024. PCPF grant spend was £275,565 with 46 grants awarded in the Kent and Medway areas. 45 grants were awarded from PCPF funds and 1 was awarded solely from CF restricted funds. The charts below provide data on the 45 grantees awarded PCPF funds in the period including the allocation of funding across the main priority and geographical areas. 1. Elderly and isolated – 9 grants totaling £49,011 2. Supporting people’s physical and mental health – 15 grants totaling £88,584 3. Strengthening local communities – 15 grants totaling £90,970 4. Homelessness and insecure housing – 6 grants totaling £42,000 Chart showing the main beneficiaries of all grants awarded by PCPF and including the match funding from Colyer-Fergusson Charitable Trust: General population – 16 grants awarded (35%) Elderly people – 14 grants awarded (30%) Families – 4 grants awarded (9%) Children (0-16) – 5 grants awarded (11%) Adult men – 3 grants awarded (6.5%) Adult women – 1 grant awarded (2%) Young people (16-25) –3 grants awarded (6.5%) Page 2 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Report of the Trustees for the year ended 31st March 2025 ## ACHIEVEMENT AND PERFORMANCE - continued Data from Monitoring Forms A total of 35 monitoring reports were received in this reporting period. The majority of reports cover the work of grants made in the previous year (1st April 2023-31st March 2024) as monitoring is due at the end of the grant period. The charts are from the following grants rounds: March 2023: 3 reports; June 2023: 15 reports; November 2023: 12 reports; March 2024: 5 reports . The chart below shows the total grant amount awarded in GBP in each geographical area of Kent based on the 35 monitoring reports received. This includes match-funded grants. Figures are for total grant amount (including multi-year grants). Folkestone & Hythe - 8 grants Canterbury - 6 grants Medway - 4 grants Tunbridge Wells - 4 grants Swale - 4 grants Dover - 3 grants Maidstone - 3 grants Gravesham - 1 grant Thanet - 1 grant Tonbridge & Malling – 1 grant The chart below showing grading of the 35 monitoring reports: Page 3 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Report of the Trustees ## for the year ended 31st March 2025 ## ACHIEVEMENT AND PERFORMANCE - continued ## Colyer Fergusson Charitable Trust - match funding partnership The match funding partnership between Colyer-Fergusson Charitable Trust (CFCT) and the Philip and Connie Phillips Foundation (PCPF) was agreed in June 2023. A second grant of £150,000 was agreed in November 2024 by CFCT to be drawn down over the year to match fund grants against two of the Foundation’s priority areas: elderly and health. ## FINANCIAL REVIEW The Foundation's work is reliant on its investment returns and its investment capital on which it may draw down. The invested funds are managed by Rathbones. In the previous year the trustees adopted a more predictable investment strategy, moving its equity investments into government bonds. The approach gave stability to expected returns and aligned the lifetime and value of investments with grant requirements. The investment policy is continually reviewed but this remains the preferred approach, given the long-term stability and attractive, reliable returns. The trustees were again happy with the performance of the fund manager and were grateful for the advice received during the period. During the year dividends of £126 (2024: £31,304) were received. At the period end the net assets of the charity totalled £1,549,266 (2024: £1,715,899), with investments held valued at £1,249,437 (2024: £1,530,242). ## Investment policy and performance The trustees have established a policy for a complete withdrawal of funds over a ten-year period. The policy aims to optimise returns on investment during this period so as to maximise its grant expenditure. The high levels of stock market volatility and the continuing uncertainty regarding world economic prospects makes the performance of investments difficult to predict, which prompted the move to government bonds in the prior year. ## Risk management The principal risks faced by the Foundation lie in the performance of investments and operational risks from ineffective grant making and the capacity of the Foundation to make effective grants. This risk has been intensified by the lasting impact of COVID-19, the threat of recession and global events that have caused continued uncertainty, potentially resulting in a loss to investment value and a reduced investment income. This risk is mitigated by retaining expert investment managers and having a diversified investment portfolio. The operational risk from ineffective grant awards is managed by retaining trustees of appropriate experience and ensuring that strict procedures are followed throughout the grant application and award procedure. Grants made are subject to a monitoring process to ensure that they have been used for the express purpose that they were applied for. ## Reserves policy The trustees aim to maintain its liquid funds at a level which equates to approximately twelve months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered. The trustees maintain reserves so as to meet its overall objective of expending its funds over a ten year period. ## Commitments and Liabilities A commitment of £8,000 to Caring Together on Romney Marsh has been made for the period ending 31st March 2026. Page 4 ## THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Report of the Trustees ## for the year ended 31st March 2025 ## FINANCIAL REVIEW - continued Plans for the future The charity will continue to award and monitor grants according to its grant cycle, while work will continue to promote the charity to ensure that those with aligning objects are aware of its existence. ## STRUCTURE, GOVERNANCE AND MANAGEMENT The Foundation is a charitable incorporated organisation, registered on 17 June 2020. It was established by an initial gift in the wills of Connie and Philip Phillips, who resided in Kent before they died. The Foundation does not actively fundraise and seeks to continue its charitable work through the careful stewardship of these resources. The charity’s governing document allows the trustees to meet and conduct meetings virtually. At the quarterly trustees' meetings, the trustees agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance. The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. New trustees are appointed by the Board of Trustees and appointments are undertaken in order to meet the experience requirements of the Board of Trustees at the time. There is no formal recruitment policy. ## CHARITY GOVERNANCE CODE The Board of Trustees oversees the charity’s governance policies and procedures. All work undertaken is in line with the Charity Governance Code which although not a legal or regulatory requirement, it sets the principles and recommended practice for good governance. The charity recognises that good governance is fundamental to its success and strives to develop high standards of governance. ## REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1189984 ## Registered office Suffolk House George Street Croydon Surrey CR0 0YN Trustees D J Wilkes P du Cassé J Austin L Hollands (resigned 02 July 2025) J Davies Approved by order of the board of trustees on 30 January 2026 and signed on its behalf by: J Austin - Trustee Page 5 Independent Examiner's Report to the Trustees of The Philip & Connie Phillips Foundation ## Independent examiner's report to the trustees of The Philip & Connie Phillips Foundation I report to the charity trustees on my examination of the accounts for the year ended 31st March 2025. ## Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Stephen John Monger, ACA Chartered Accountant 10 St Edith’s Road Kemsing Kent Date: 3 0 January 2026 Page 6 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Statement of Financial Activities For the year ended 31 March 2025 |Note
INCOME FROM
Charitable activities
2
Investments
3
Total income
EXPENDITURE ON
Raising funds
4
Charitable activities
- Grants paid in the year
5
- Other support costs
Net gains/(losses) on investments
Net income / (expenditure)
Total funds brought forward
Total funds carried forward|Restricted
Funds
2025
£
150,000
-
150,000
-
52,113
8,157
60,270
-
89,730
55,444
145,174|Unrestricted
Funds
2025
£
-
21,927
21,927
4,781
275,565
33,005
313,351
35,071
(256,353)
1,660,445
1,404,092|Total
Funds
2025
£
150,000
21,927
171,927
4,781
327,678
41,162
373,621
35,071
(166,623)
1,715,889
1,549,266|Total
Funds
2024
£
100,000
43,717| |---|---|---|---|---| |||||143,717| |||||9,893
313,477
34,294| |||||357,664| |||||(12,834)| |||||(226,781)
1,942,670| |||||1,715,889| All amounts are from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. There is no other comprehensive income in the year, or in the previous year. The notes on page 9 - 15 form part of these financial statements. Page 7 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Balance Sheet For the year ended 31 March 2025 |Note
FIXED ASSETS
Investments
7
CURRENT ASSETS
Cash at bank
CURRENT LIABILITIES
Creditors: amounts falling due within one year
8
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
Unrestricted funds
9|£
£
1,249,437
317,023
(17,194)
299,829
1,549,266
145,174
1,404,092
1,549,266
2025|£
£
1,530,242
198,075
(12,428)
185,647
1,715,889
55,444
1,660,445
1,715,889
2024|£
£
1,530,242
198,075
(12,428)
185,647
1,715,889
55,444
1,660,445
1,715,889
2024| |---|---|---|---| ||||1,715,889| ||||55,444
1,660,445| ||||1,715,889| The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2026 a nd were signed on its behalf by: J Austin - Trustee The notes on page 9 - 15 form part of these financial statements. Page 8 THE PHILIP & CONNIE PHILLIPS FOUNDATION Notes to the Financial Statements For the year ended 31 March 2025 ## 1. ACCOUNTING POLICIES ## Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The charity has elected to apply the exemption under FRS 102 from preparing a cash flow statement. The comparative financial statements cover the year ended 31st March 2024. ## Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## Taxation The charity is exempt from tax on its charitable activities. ## Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## Realised and unrealised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening carrying value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening carrying value (or purchase date if later). ## Fixed asset investments Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposal throughout the year. Page 9 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Notes to the Financial Statements For the year ended 31 March 2025 ## 1. ACCOUNTING POLICIES (continued) ## Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## Creditors and provisions Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## Cash at bank and in hand Cash at bank and cash 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.
CHARITABLE ACTIVITIES
Grants
3.
INVESTMENT INCOME
Dividends received
Deposit account interest
4.
RAISING FUNDS
Investment management costs - Portfolio management|Total
Funds
2025
£
150,000
Total
Funds
2025
£
126
21,801
21,927
Total
Funds
2025
£
4,781|Total
Funds
2024
£
100,000| |---|---|---| |||Total
Funds
2024
£
31,304
12,413| |||43,717| |||Total
Funds
2024
£
9,893| Page 10 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Notes to the Financial Statements For the year ended 31 March 2025 |GRANTS PAYABLE
Grants paid in the year|Total
Funds
2025
£
327,678
327,678|Total
Funds
2024
£
313,477| |---|---|---| |||313,477| ## 5. GRANTS PAYABLE The total grants paid to institutions during the period was as follows: |21 Together
Abbey Physic Community Garden
Age UK Sheppey
All Saints Community Project Trust
Ashford Volunteer Centre
BeChange
Bright Shadow CIO
The Canterbury District C.A.B
Canterbury Housing Advice Centre
Canterbury Umbrella Centre
Caring Altogether on Romney Marsh
Catching Lives
Child’s Vision
Communigrow
Council for Voluntary Service for NW Kent
Disability Assist
Dover Smart Project
East Kent Rape Crisis Centre
Edenbridge & Westerham Citizens Advice
FASD Awareness
Faversham Umbrella
Food Friends UK
Fusion Maidstone
Gravesham Sanctuary CIO
Headway Kent
Hi Kent
Home-Start Ashford & District
Home-Start Dover District
Keep Talking Service
Kent Refugee Action Network
Making a Difference to Maidstone Charity
Mama to Mama
Medway African & Caribbean Association
Medway Foodbank
Medway Puzzles
Mental Health Resource
Mid Kent Mind
Moving Memory Dance Theatre Company
Napier Friends
Oasis Community Hub: Isle of Sheppey
Balance carried forward|2025
restricted
2025
unrestricted
2024
restricted
£
£
£
-
5,000
-
-
7,000
-
-
9,617
-
-
6,100
-
-
9,370
-
-
7,000
-
-
10,000
-
-
5,000
-
-
8,000
-
4,000
4,000
-
8,000
-
-
-
10,000
-
-
8,500
-
-
3,000
-
-
5,000
-
-
9,950
-
4,894
4,894
-
-
7,000
-
-
5,000
-
-
5,000
5,000
-
5,000
-
4,750
4,750
-
-
5,000
-
-
5,000
-
4,776
4,776
-
3,000
3,000
-
-
5,000
-
-
5,000
-
-
7,000
-
-
7,000
-
-
5,000
-
-
8,000
-
3,000
3,000
-
-
5,000
-
3,000
3,000
-
-
5,000
-
4,943
4,943
-
3,750
3,750
-
-
7,000
-
-
5,000
-
44,113
230,650
5,000|2024
unrestricted
£
-
-
-
5,000
-
-
5,170
-
5,000
-
5,000
10,000
-
-
7,750
-
9,600
-
-
5,000
-
-
5,000
-
-
-
-
-
-
-
5,000
-
7,500
5,000
8,328
-
-
-
5,000
-| |---|---|---| |||88,348| Page 11 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Notes to the Financial Statements For the year ended 31 March 2025 |5.|GRANTS PAYABLE (continued)|2025|2025|2024|2024| |---|---|---|---|---|---| |||restricted|unrestricted|restricted|unrestricted| ||Balance brought forward|44,113|230,650|5,000|88,348| ||Pie Factory Music|-|5,000|-|-| ||Second Chance Charity|-|7,000|-|-| ||Slide Away|-|9,915|-|4,000| ||Swale Community and Voluntary Services|3,000|3,000|-|-| ||Thanet Community Development Trust|5,000|5,000|-|-| ||Walk Tall|-|5,000|-|-| ||West Kent Mind|-|10,000|-|-| ||Age Concern Sandwich Centre|-|-|-|5,000| ||Age UK Tunbridge Wells|-|-|5,000|5,000| ||Ashford and Tenterden Umbrella|-|-|5,000|5,000| ||Baby Umbrella|-|-|-|9,721| ||Citizens Advice Swale|-|-|-|5,000| ||Dads Unlimited|-|-|-|8,000| ||Faversham Assistance Centre|-|-|3,500|3,500| ||Folkstone Nepalese Community|-|-|-|8,286| ||Folkstone Rainbow Centre|-|-|-|5,000| ||GAP – A Thanet Community Project|-|-|-|9,906| ||Home Start Medway|-|-|-|5,000| ||Home Start North West Kent|-|-|-|5,000| ||Kent Coast Volunteering|-|-|5,000|5,000| ||Life and Soul Youth Work|-|-|-|5,000| ||Lighthouse on the Marsh|-|-|4,250|4,250| ||Maidstone Churches Winter Shelter|-|-|-|8,000| ||Medway Parents & Carers Forum|-|-|-|7,786| ||People United|-|-|-|5,000| ||Refocus Project|-|-|-|7,500| ||Riverside Church|-|-|-|5,000| ||Romney Marsh Community Hub|-|-|5,000|5,000| ||Rubicon Cares|-|-|-|5,000| ||Samphire|-|-|-|5,000| ||SATEDA|-|-|-|5,000| ||Something in Kent|-|-|-|7,900| ||South Kent Mind|-|-|4,565|4,565| ||Space 2 Be Me|-|-|-|5,000| ||Sunflower House|-|-|3,450|3,450| ||Take Off|-|-|-|5,000| ||Wellbeing in the Weald|-|-|-|5,000| ||West Kent Debt Advice|-|-|-|7,500| 52,113 275,565 40,765 272,712 Page 12 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Notes to the Financial Statements For the year ended 31 March 2025 ## 6. TRUSTEES' REMUNERATION AND BENEFITS No trustees received any remuneration or any benefits in kind in either the current year or the previous year. No trustees received any reimbursement of expenses in either the current year or the previous year. |7.
FIXED ASSET INVESTMENTS
Shares
Other
MARKET VALUE
At 1 April 2024
Additions at cost
Disposals at carrying value
Net gain/(loss) on revaluation
At 31 March 2025
There were no investment assets outside of the UK.
Investments are comprised of:
Fixed interest securities
Equities
Alternatives
Cash
8.
CREDITORS: amounts falling due within one year
Accruals|Total
Funds
2025
£
1,248,798
639
1,249,437
1,248,798
-
-
639
1,249,437
2025
£
17,194|Total
Funds
2024
£
1,299,396
230,846| |---|---|---| |||1,530,242| |||Listed
£
1,299,396
20,020
105,689)
(
35,071| |||1,248,798| |||1,299,396
-
-
230,846| |||1,530,242| |||2024
£
12,428| Page 13 THE PHILIP & CONNIE PHILLIPS FOUNDATION Notes to the Financial Statements For the year ended 31 March 2025 |9.
STATEMENT OF FUNDS 2025
General funds
Restricted funds
Total funds
STATEMENT OF FUNDS 2024
General funds
Restricted funds
Total funds|Brought
Forward
£
1,660,445
55,444
1,715,889
Brought
Forward
£
1,942,670
-
1,942,670|Incoming
Resources
£
21,927
150,000
171,927
Incoming
Resources
£
43,717
100,000
143,717|Resources
Expended
£
(313,351)
(60,270)
(373,621)
Resources
Expended
£
(313,108)
(44,556)
(357,664)|Gains and
losses
£
35,071
-
35,071
Gains and
losses
£
(12,834)
-
(12,834)|Carried
Forward
£
1,404,092
145,174| |---|---|---|---|---|---| ||||||1,549,266| ||||||Carried
Forward
£
1,660,445
55,444| ||||||1,715,889| ## Restricted funds Restricted funds represent grants received to enable specific areas of charitable activities to be undertaken. The restricted funds held at the year end of £145,174 (2024: £55,444) related to funding from the Colyer-Fergusson Charitable Trust, which was granted in 2024 in relation to a match-funding partnership. More detail is given in the Trustees' report. |10. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025
Fixed asset investments
Cash at bank
Creditors: amounts falling due within one year
ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024
Fixed asset investments
Cash at bank
Creditors: amounts falling due within one year|Restricted
Funds
£
-
145,174
-
145,174
Restricted
Funds
£
-
55,444
-
55,444|Unrestricted
Funds
£
1,249,437
171,849
(17,194)
1,404,092
Unrestricted
Funds
£
1,530,242
142,631
(12,428)
1,660,445|Total
Funds
£
1,249,437
317,023
(17,194)| |---|---|---|---| ||||1,549,266| ||||Total
Funds
£
1,530,242
198,075
(12,428)| ||||1,715,889| Page 14 THE PHILIP & CONNIE PHILLIPS FOUNDATION ## Notes to the Financial Statements For the year ended 31 March 2025 ## 11. TAXATION As a registered charity, no tax arises on trading surpluses (since all the trading is carried out in pursuit of the charitable company's primary purposes), voluntary income or interest. The charity is exempt from corporation tax. ## 12. RELATED PARTY TRANSACTIONS During the year, the charity incurred expenses of £1,698 (2024: £1,740) from TC SWP Ltd (formerly Simpson Wreford and Partners), an accountancy firm which P du Cassé jointly controls with others. These expenses were wholly in relation to statutory accounting services. |13. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2024)
INCOME FROM
Charitable Activities
Investments
Total income
EXPENDITURE ON
Raising funds
Charitable activities
- Grants paid in the year
- Other
Net gains/(losses) on investments
Net income / (expenditure)
Total funds brought forward
Total funds carried forward|Restricted
Funds
2024
£
100,000
-
100,000
-
40,765
3,791
44,556
-
55,444
-
55,444|Unrestricted
Funds
2024
£
-
43,717
43,717
9,893
272,712
30,503
313,108
(12,834)
(282,225)
1,942,670
1,660,445|Total
Funds
2024
£
100,000
43,717| |---|---|---|---| ||||143,717| ||||9,893
313,477
34,294| ||||357,664| ||||(12,834)| ||||(226,781)
1,942,670| ||||1,715,889| ## 14. Commitments and Liabilities A commitment of £8,000 to Caring Altogether on Romney Marsh (2024: £5,000 to FASD Awareness) has been made for the period ending 31st March 2026. Page 15