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 apPrOpr￿te 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 Ic￿1 community
in which the Inveslee Company 0￿rateS,.
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 D￿rnber 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
A￿pIed 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
LlabllIl￿S 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 pOI￿leS, the Foundation can commit lo multi-year grants
which are subject to annual confirmat￿n 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