Charlty number. 1190612 THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION Unauditèd annual report Year ended 31 Decèmber 2024
CONTENTS Page Reference and administrative details of the Charity Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Statement of Cash Flows 10 Notes to the Financial Statements
THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION Reference and administrative details of the Charity for the financial year ended 31 December 2024 Trustoes Mr J M B Cayzer-colvin Mr B J Archer (appointed on 12 September 2024) Ms S Beckford lappoinled on 12 September 20241 Ms S Bell {appoinled on 12 September 20241 Mr C J Hodges (resigned on 12 Seplemb9r 20241 Mrs A M McNeill Mr AJ F Wildman Registèrèd office The Caledonia Investments Charitable Foundation Cayzer House 30 Buckingham Gale London SW1E 6NN Registered charlty number 1190612 Bankers National Westminster Bank 169 Victoria Street London SW1E SNA Independent Examingr Glen Bott FCA Cooper Parry Group Limited Argosy Road East Midlands Airport Derby DE74 2SA
THE CALEDONIA INvEsTMETr CHARrrABLE FOUNDATION REPORT OF THE TRUSTEES for the year ended 31 DeGember 2024 The Trustees presenl their report together with the financial statements of The Caledonla Investments Charitable Foundation Ithe'Foundation'l for the year ended 31 December 2024. The Trustees confirm Ihat the report and financial statements of the Foundation comply wrfth the Charities Act 2011. the requirements of the Foundation's governing documents and the provisions of the Statement of Recommended Practice { SORP") "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appluble in the United Kingdom and Republic of Ireland IFRS 102). Structure. governancé, and managament The Foundation is a charitable trust, govemed by a Trust Deed dated 1 June 2020 and established by Caledonia Investments plc I"Caledonia"l. The Foundation was inilkglly registered as The Caledonia Fund, however, following approval from the Charity Commission on 21 June 2021, the Foundation's name was changed. Method of appointment or election of Trustèès The management of the Foundation is the responsibilty of the Trustees, appointed by Caledonia. such other persons as Caledonia may revocably or irrevocably appoint. 11 is intended that the Foundation's board of trustees should consist of at least three, but no greater than six. members and that Trustees should be available to serve an inllial term of three years, which can be extended for two further terms of three years. During the year, Mr Hodges retired as a Trustee and Mr Archer, Ms Beckford and Ms Bell were appointed as Trustees. Objectives Policies and ob'eGIs The objects of Ihe Foundation are lo provKle grants.. lo ellgible applicants in signrficant financial hardship as a consequence of the Covid-19 pandemic including current and recent former employees. their immediate families or dependerrts, or other individuals with a strorrfJ connection with any Caledonia inve51ee company lan"Investee Company'l., and lo other charities and charitable causes as considered apPrOprte by the Trustees. In setting the grant making policy, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit. Grant makin g1iGie5 When providing grants lo other charities and charitable causes. the Foundation has prioTitised those Gharilie5 where there is.. direct engagement with a member of Caledonia staff, foi example a éonalion to a cause where an employee has already raised funds or provides voluntary services. a connection with an Investee Company or wider portfolio investment, for example to support a charity selected by the employees of an Inveslee Company or to support the Ic1 community in which the Inveslee Company 0rateS,. a connection with a broader group of Caledonia's stakeholders, for example the community in the vicinity of Cayzer House,.
REPORT OF TRUSTEES (contlnued) charities Ihal have a maritime connection in recognition of Caledonia's marib'me heritage,. or mulli-year projects where the Foundation could engage with a charity for three or more years, thus allowing the recipient charities to make substantial and lasting impact. Achievements and performance Review of activili The Foundation brought forward £10,968 into the financial year ended 31 December 2024 and received income of £300,000 from Caledonia. During the year, the Foundation made grants totalling £290,100 to support various activities al multiple charities. The Foundation previously committed lo substantial multi-year donations to the following charities which was subject lo annual renewal.. The Cornwall Community Foundation to support various comrnunily projects in Cornwall and the Isles of Scilly- The Maritime Volunteer Service to assist in the protection and perseverance lrfe and property within the maritime environment. in addition to VanCIng the education and training of mernbers in all aspects of maritime and Gommunicalion skills,. and Horatio'$ Garden, a charity which nurtures the wellbeing of people after spinal injury in beautifvl, vibrant sanctuaries within the heart of NHS spinal injury centres. During the year, an additional payment of £50.000 was made lo The Cornwall Community Foundation and a further £75,000 was made lo each of The Maritime Volunteer Service and Horatio's Garden respectively. The Foundation also approved substantial one-off donattons to.. Joshua Orphan and Community Care lo bulld a new composting latfine block in Mwandika and support a feeding pmgramme to provide a hot meal for circa. 850 children each day in the Blantyre rural areas for a year., an($ The Passage lo: {1} fund Ihe salary of an employment coach,. Ili} provide translation seNices to ils non-English speaking clients,. {iiil run digital workshops focused on providing day-lo-day essential Information {such as paying Council Tax or assistance with job applications),. and {iv} providing temporary accommodation. Smaller donations were also made lo other charities which were supported by Caledonia employees, including various fundraising activities. These included King Alfred Trust Ilrading as Pewsey Primary School). Haemochromalosis, The Quinnian Trust, Greggs Foundation, The Outward Bound Trust and The Bendrigg Trust. ITwestmenl olic and erformance The Trust Deed permits the Trustees. in their absolute discretion. or any appointed investment advisors, to invest in any investmenL securities or property. as it thinks fil. At 31 December 2024, no money had been invested by the Foundation. The Foundation has not currently invested gny funds. Before any investments tske place, an investment policy would be developed and approved by the Trustees. Financial review During the year ended 31 December 2024, the Foundalion received unrestricted donation income tolalling £300,700 and paid charitable grants tolalling £290,100.
REPORT OF TRUSTEES (contlnued) Ai 31 Drnber 2024, the Fourk4ation had total unreslricled funds carried forward of £20,868. Reserves The Foundation does not currenuy have a reserves policy. As Caledonia provKJes the Foundation w((h annual funding, and the Trustees regularly review the balan available to them, including any anticipated future donations to be considered and other costs, a reserves policy 15 not considered necessary. Plans for thè future Future develo ments It is intended that additional funds will be made available by Caledonia lo the Foundation annually lo enable il to consider and, rf thought fit. approve further donations to the charities already supported by the Foundation and other charitsble organisalion5 as the TrLFslees see fit. Trustees Responsibilities Trustees are responsible for preparing a Trustees, Annual Report and financial statements in acwrdance wth applicable law and United Kingdom Accounting Standards (United 'ngdoM Generally ApIed Accounting Practice). The law applicable lo charlties in Eroland and Wales requires chority trustees to prepare financial statement5 for each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, of the charlty for that pericKI. In preparing the financial statements, the trustees are required lo.. select suitable accounting policies and then apply them consistenlly-, observe the methods and principles in the applicable Charities SORP.. make judgements and estimates that are reasonable and prudent- stale whether applicable accounting standards have been followed. subject to any material departures that must be disclosed and explained in the financial stalemenls,. and prepa the financial slalemenls on the going concern basis unless it is inappmpriate lo presume that the charity will continue in bu$ine55. Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial p05f(ion of the Foundation and to enable them lo ensure that the financial statements comply with the Charities Act 2011, the applicable Chari(ies {Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Foundation and taking r8asonable steps for the prevention and detection of fraud and other irregularities. This report was reviewed and approved by the Trustees on behalf by.. IE JU É 2025andsigned onlheir Jamie Cayzer-colvin Chairman of the Trustees
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are sel out on pages 8 to 14. Responslbllltlos and ba$ls of report As the charity's tTUStee5 you a responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {Ihe 'Acf'l. I report in respect of my examination of the charity's accounts carried out under se¢lion 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl of the Act. Independent oxamlnerfs statement The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified mernber of the Institute of Chartered Accountants in England anL1 Wales IICAEWI. I have completed my examination. I confirm that no material matters have tome to my attention in connection with the ex8mination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charlty as required by section 130 of the Act,. or 2. the accounts do not accord with those records,- or 3. the accounts do 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 cgrne across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a propef understanding of the accounts to be reached. GLEN Bo FCA Cooper Parry Group Limited Sky View ATgosy Road East Midlands Airport Ca5Ue Donington Derby DE74 2SA Dale: 11 July 2025
Statement of Financlal Actlvhles For the year ended 31 Decembèr 2024 2024 2023 Notes INCOME FROM Donatior15 300,700 310.000 TOTAL INCOME 300,700 310,000 EXPENDITURE ON Grants Charitable activltles 290,100 700 305,195 762 TOTAL EXPENDITURE 290.800 305.957 NEf MOVEMENT IN FUNDS 9,900 4,043 TOTAL UNRESTRICTED FUNDS as at 1 January 2024 10,968 6,925 TOTAL UNRESTRICTED FUNDS as at 31 Decernber 2024 20,868 10,968 The notgs on pages 11 to 14 fomi part of these financial slat•m&nts.
Balanco Sheet As at 31 December 2024 2024 2023 Note CURRENT ASSErs Cash al bank 33,368 12,968 CURRENT LIABILITIES Accruals {12,5001 {2,000) NET ASSETS 20.868 10,968 CHARITY FUNDS Unrestricted funds 20,868 10,968 TOTAL FUNDS 20.868 10,968 The financial statements were approved by the Trustees on 16 JUNJE beh If by- 2025 and signed on their Jamle Cayzor-colvln Chalm)an of the Trustees The not88 on pages 11 to 14 form part of these flnancial statements.
SL*ement of Cash Flows For the year endod 31 Decembgr 2024 2024 2023 Notes Cash flows from operatlng actlvllles: Net cash (used inll provided by operating activities 20,400 19,457) Net cash provided by operating activitias 20,400 (9,457) Change in cash and ¢ash oquival•nt$ in th8 year 20,400 (9.4571 Cash and cash equivalents at the beginning of the year 12,968 22,425 Cash and cash equlvalents at the end of the year 33,368 12, Cash providgd by operating artivities Net movement in funds 9,900 4,043 In¢reasellDeGreasel in creditor5 10,500 (13,500) 20,400 9.457 io
Notes to the Financial Statomonts For tho year ended 31 Decemb•r 2024 1. ACCOUNTING POLICIES Basis of preparation of financlal statement The finanGial slalements have been prepared in accordance with the Slalement of Recommended Practice ISORPI "Accounting and Reporting by Charities,. applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the Vniled Kingdom and Republic of Ireland (FRS 1021, the Charities Act 2011 and applicable regulations. The accounts have been prepared urider the historical cost convention with items recognised as cost or transaction value unless otherwise ststed in the relevant notels} lo the accounts. The trust constitutes a public benefrt entity as defined by FRS 102. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Incomlng resourc•s All incoming resources are included in the Statement of Financlal Actlvlties when the charity has entitlement to the funds, after any performance conditions have been mel, the amount can be measured liably, and it is probable the income will be received. Resources expended Expenditure is accounted for on an accruals basis and has been included under expense categories thal aggregate all costs for allocation to aclivilies. Where cost$ cannot be direcuy attributed lo particular aclivilies. they have been allocated on a basis consistent with the use of the resources. Grants payable to third parties are within the charitable objectives. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional on a future event. Grants offered sijbject lo conditions which have not been mel at the year-end are mted as commitments bul not accrue(J as expenditure. Golng concern The financial stslemenls have been prepared on a going concern basis as the truste85 believe that no material unc8rtainties exist. The Iruslees have considered the level of funds h&l(l and the expected level of in¢ome and expenditure for 12 months from aulhorisiro these financial statemenls. Current liabilitles LlabllIlS are recognised al the amount payable. li
Notgs to the Flnanclal Statements (continu8d) 2. GRANTS TO INSTITUTION Unrestricted funds 2024 Unrostrlcted funds 2023 1st Clifton Hampden and Burcot Sea Scout Group 3rd Southwark Scout Group Access Sport CIO- Angus Irvine Playing Fields Fund African Parks UK Alzheimer's Society Bendrigg Trust Cachalols Shipping Festival Service Cancer Research UK Cornwall Community Foundation Friends of Radnor House Twickenham Haemochromalosis UK Horalio's Garden Joshua Orphan and Community Care King Alfred Trust LMK (Let Me Know) Llcensed Trade Charity Maritime Volunteer Service Muscular Dystrophy Only A Pavement Away Outward Bound Trusl Pancreatic Cancer UK Quinnian Trust Rennie Grove Hospice Care Royal Marsden Hospice Care Sailors, Society Samaritan5 Soulhside Young Leaders Academy Stella Mari5 Suited For Success The Great River Race Tnjst The Greggs Foundation The Mission lo Seafarers The MounL9in Training Trust- Th8 Mountain Adventure Fund The Passage The Urology Foundation Ihe Wheelyboal Trust The Zahra Trust 1,000 970 5,000 1,000 1.000 1.000 3.000 300 5,000 50,000 300 85,000 1,000 5.000 75,000 20.800 5.000 75,000 12,175 1,000 75.000 1.000 5,000 3,500 1.000 75,0 6,000 1,000 2,000 1,250 1.000 1,000 1,000 1,250 1,500 2,500 8,C()O 1,250 2,500 2,500 20,Oc) 1,000 25,000 1,000 12
Notes to the Flnanclal SLitements (continued) Thriving Through Venture Tommy's Vinlers Football Club Wellchild Youth Talk Limited 2,500 1,000 1,000 1,000 1,000 290,100 305,195 3. OTHER CHARITABLE EXPENDITURE Unrestricted funds 2024 Unrestrlcted funds 2023 Administration expenses 700 762 700 762 NET INCOMING RESOURCES During the year. no Trustees received any remuneration, benefits in kind or reimbursement of expenses. OTHER PAYABLES EXPENDITURE Unrestricted funds 2024 Unrestricted funds 2023 Accruals 12,500 2,0(X) 12,500 2,000 GRANT COMMrrMENTS In accordance with the grant making pOIleS, the Foundation can commit lo multi-year grants which are subject to annual confirmatn from the Trustees prior lo the grants being made. As at the 31 December 2024, future commitments, that are subject to annual confirmation, are £250.000 including £125,000 that would become payable in 2025 and a further £125,000 that would become payable in 2026. These future commitments will be reccgnised as grants in Ihe Jear they are confirmed and paid. 13
Notes to the Financial Ststements (continuod> STATEMENT OF FUNDS Brought Forward Incoming rasour Resources Expanded Carried Forward Unrestrlcted funds General funds RELATED PARTIES There were no related party transactions during the year. 14