Charity number: 1192562 Company number.. 12999382 The Cordrey Foundation Annual Accounts for the year ended 30 November 2024 Thecordrey Foundat50Tr C¢)ntents Pa Rep¢vtofth¢Tntyt¢es Indwdent Ex•Mkner¥￿Ortt￿the Tn¥tÈe5 ofTh¢Cordrty Founthtlo ststementof FinarK￿l Activ(£ks Ba*cÈSheÈt NotestotheA(cowts THE CORDREY FOUNDATION REPORT OF THE TRUSTEES FOR THE YE4R ENDED 30 NOVEMBER 2024 The trustees who arEa150 dtrertor5 of tIE Charityforthe purp05esof the Companie5Act 2CMMb pre5enttheir repDrt with thefinancial statements of thecharity forthe yearended 30 November 2024. The financial ststements comply with the Charities Art 2011. the Companies Act 2006. the Memorandum aryi Articles of Association, and Accounting and RerKirting by Charities: Statement of RecommeThled Practice aPp￿Cable to Charitie5 preparing their accounts In accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of lieland IFR5 1021 (effective l January 20151. REFERENCE AND ADMIN5TRATIVE DEfAILS Reglstered company number 12999382 (En¥13￿j and Wale51 Registered ch￿ Number 1192562 Re8lstered The Lodge Ststion Road Wargrave Reading Berkshire RGIO 8EU Trustses Mr P Cordrey Mrs C cOrd￿V Mr M Linin8ton Mr N Ledger Independent Examlner Essendon Accounts and Tax Lirnited 3 Warren Yard Warren Park Stratford Road Milton Keynes MK12 5NW srRucfuRE GOVERNANCEAND MANAGEMENT Govemlng document The charity is controlled by its governing documen( a deed ofr trus( and constitutes a limited company. limited by guarantee, as defined by the Cgmpanies Act 2W6. Rerrulknentand appginknent of newtrustees A new trustee or new tru5tee5 tnay be appointed at any tome (either by way of replacernent or addition). A trv5tee may ￿ appointed ordischarged by a resolution of a meetingof thetrustees. provided that a memorandum declaring such appointment ordischarge byshall be signed as a deed, eitheratthe meetingbythe person presiding or in some other manner directed by the meeting and attested by the two other persons present at the meetin& Rlsk management The trustees have a thjtyto identify and review the risks to which the charity is exposed and tts enyjre appropriate contrdsare in place to provtik reasonable assurance against fraud and erFOr. THE CORDREY FOUNDATION REPORT OF THE TRUSTEES OBJECTf¥ES AND AcfiviTIES Oblertlves and alms The chartys otrlectives are restrirted specifically forthe public benefit to the follown The advancetnent of eduration regaTding the history of transpor¢ atLd in partttular. exhibiting to the publlt historic vehides, carrigges, carts atNI other mdes of transport for land. sea and air. and documents. photographs, artefacts and other exhibits in connection vvith the history of transporL The ad￿cement of education by the provision of financial SUp￿)rt and training to military personnel, liveryrnen. profesSi￿alS tsctwe or retired) or any member of their family. The rellel of those who are In need as a result of illnes& ￿veth, disability or old age by the provision of ffnanclal support. Such othef exclusively charitabl2 purpose5 as the trustees may from titne to time deterrnine. FINANCIAL REVIEW Reserves policy The ￿serveS polScy is reviewed regubady to erts￿￿ the charity has suffioent fund5 trj meet it5 objertive5 for the foreseeable future. FUTURE DEVELOPMENTS Havlng estsblished itsdf during the first year of eXiste￿e. the Charity aims to continue to build its asset base in order to facilitate the tneeting of its objectives. ON BEHALF OFTHE BOARD: /6L Mr P Cordrey- TNstee Date: 2810412025 INDEPENDENT EKAMINER'S REPORT TO THE TRUSTEES OF THE CORDREY FOUNDATION I report on the accounts for the year Ènded 30 November 2024. Respectlve respon￿bIlItIeS of IJUSt￿ and e¥amlner The charity's trustees (who are also the directors for the purposes of cornpany lawl are responsible for the prepardtion of the3￿oUn￿ The d)arity's trustees consider that an audit ss notrequired for thisyear (under Section 144121 of the Charitie5Act 2011 tthe 2011 and that an independent examination is required. Having satisfied myself that the charity is not Subject to audlt under company law and is eligible for independent examination. it 15 my re5pon5ibility to= Examine thÈ accounts under Section 145 of the 2011 act To folk)w the procedwes laid down I n the general direction5 given by Charity Commission (under section 1451bl ol the 2011 Act).. and To state whether particular matters have come to my attentioTh Basis of the independent examinerfs repDrt examination was tarried out in accordance wlth the General DlrertSons given by the Charlty Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those record& It also indudes consideration of any unusual iterns ordi5c105ure5 111 the account5. and seeklng explanations fromyou 3s trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion isgivenas towhetherthe accounts present a Irue and lair vievl and the report is limtted to those matters set out in the statements below. Independent examinerfs statement In connertion with rny exarnination, no matter has come to my attention: 111 Which gives me reasonable cause to believe thaL in any rn3terial respert, the requirements To keep accounting records in accordance with Section 386 and 387 of the Companie5 Act 2(¥)6- and To prepare accounts which accord with the accounting records, comply with the accountlng requirements of Sections 34 and 395 of the Companies Act 2(￿J6 and with the methods and P￿￿1p1e5 of the Ststemenl of Recommended Practise- Accounting and Reporting by Charities have been metr. or 121 To which, in my opinion. attention should be drawn in ord2r to enable a proper understanding of the accounts to be reached. Roger Eddowes For and on behalf of Es5endon Accounts and Tèx Limited Date: Z8/vltot5. twdibyextwnil UnrestlkiedF￿n￿s VnrestrlctedFunds Incom 37.794 15,519 37.5ts) 9.779 I￿,4945 111.865J 59m) 15M33 Thecordrey FouDd•tr c(￿p￿￿tsMb¢r 12999382 31thN¢J¥ember 2024 135sets Herita8eassets LKer Ill￿tments 250,942 168.864 944.335 1,304,141 193.602 55.666 9￿.582 L157051 Debtors 3,571 211258 829 11.670 175,474 187,144 ash at bank and In hand IS￿"￿0￿ntsf311insdUeWJth1noI*ye￿ 13,0761 119.9(K).(N)I Net£urrent3ssetslllthThde51 20.753 167244 Totslasfetsksscumt lknblwes 1.384A94 1.325.(Y14 Provi5VJThs for11ab￿1kn￿ andthèrges Totsl rt355ets 1.384A94 1.325.094 1.384,894 1,325,094 The comp3nywasenti￿edt0 exefflption frixn auditunder s477ofthE Compan￿5 Ad 2006 relating tu 5tTr311 c(KnpaBiekThe membe[5 have not reoulyed thecorroany toobtsln an audrt In accordaKewlth s￿￿0￿4700tth2C￿￿￿￿s kt ThE dirEltor5 ack[￿ed8C thtyr re5P)n5ibllftks far complyln8 wlth the requlrements otthe Comparyes Act %%lthrespect to KCourbti￿feC0￿￿sa￿d theprepar#￿On of a£counts. These aceounts h2ve betn prewed in *corLtsntrwthttt provl4oDsapplkaFJeto smal corr¢)anie&The5e acc(wnts ￿Vebe￿ prepared in accordance with the prthlslons3ppIIc3ble tosmau companle5 subSertto the small re8Sme It) ac¢ordan¢Èwith FPSIQ2 SORP. SiBned by PeterCordrey.Tru5tee Date: The Cordrey FO￿datiOn Notestotheacwunts Section C Note l Basi5 of Preparation 1.1 Basis of accountl These accounts have been p￿pared under the histodcal cost convention with items recognised at C05t or transaction value unless otherwise stated in the relevarit notelsl to these accounts. The accounts have been prepared in accordaKe with: The Statetnent of Recommended Practice.. Accounting and Reportin8 by Ch3rities prÈparing their acctsunts In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014. The Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021.. and with the Charities Art 2011. The charify constrtutes a public benefit entity as defined by FRS 102. Note 2 Accounting Policie5 11 Incq>me Recognltlon of Inco These are included in the Statement of Financial Actiwtles (SOFA) when.. The charity becomes entilled to the resources, tt 15 more likely than not that the trustees will receive the resources and monetsry value can be measured with suffitlent ￿lIabIlIty. Offsettlng There has tr*en no offsetting of a55ets and liajilities, or income and expenses. unless required or pemiitted by the FRS 102 SORP or FRS 102. Grahts aNI Donattons Grants and donations are onty induded in the SOFA when the general income recognition Crit￿73 are met15.10 to 5.12 FRS 102 SORPI. In the case of performance related grants, Intome must only be recognised to the extent that the charity h35 provSded the specified goods or services as entitlernent to the grant only ¢xcurs when the perfomance related conditions are met15.16 FR5 102 50RPI. 2.2 Expendiiure and liabilitie5 Llablllty recogrétlon Li3￿1•￿eS are reco8nised where it is more likely than not that there is a legal or constructive obligatson committing the chaiity to pay out wurces and the amountof the obligation can be Measu￿ with reasonable certainty. Governance and 5UPPOrtcosts Support costs have been allocAted be￿een govemante tosts and other support Governa￿e costs comprorni5e all costs involving public accountability of the ehèrlty and Its complkince with regUlat￿n and good practice. Support costs include central functions and have been allocated to artivity cost categories on a basis consistent th th2 tjse of resources, e.& allocating property costs by floor areas. or per capita. stsff costs by the tirne spent and otherc05t5 by their usage. Deferred IwKorne No rnate￿al it￿n of deferred income has b*n included in the accounts. Credltors The charity has creditors which are measured at setdement amounts les5 any trade discounts. Provlslon5for Ilabllltles A liability is ffleaS￿ed on recognition at Èts historical cost and then sUbSequen￿Y Thea5ured at the best e5tirnate of the amount fequ*d to settle the 01￿183t10n at the reporting date. Baslc Flnancial I￿trUMents The tharity atcounts for basic finarttial tn5truments on in￿tIal retognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. Z3 A55ets HÉritsgèAssÈts The charity ha5 heritsge assets, that is. non-monetary assets with hi5torTt. artistic. scientific, technological, geophysical, or environmental Qualities that are held and maintsined principalty for their contribvtitsn to knowtedge and CUl￿re. The depreciation rates and methods used as disclosed in note S. They are valued at cost Debtors Debtors (including trade debtors and 1gan5 r￿1vable) are rneasured on initial recognition at sethement amount after ary trade discounts or amount advanced by the ch¥lty. Subsequendy, they are measured at the cash or other CDnsSderation expected to be received. Note 3 Exp￿dIty Charitable aCtiV￿eS indude an amountof £1,691 for bank char8es. Note 4 Detsi15 of cettstn types of expeThllture 4.1 Fee'5 for attountanty servites has been incuNed as follows 2024 2023 Independent Examiners fee's 1.741 1.652 Assurance services other thgn independent examination Total 1,741 1.652 Note S HeTitsge A55ets Renovation work totslling £57.340 have tneurred during the year. No dep￿lation has been provlded in the period. nor any revaluation 01 impaifrnent amounts. The assets cornprise of a 5electyon of historic vehKles. cairFaEe¥ carts. and other modes of transport for land. sea awMI air. Note 6 Licence The l*entr ￿lateS to costs incurred for the prepara￿On of a garage and parkSng area in relatlon to a 10 year licence granted from 1st De￿rnber 2023 The asset is depreciated on a straight line basis over the 10 year period of the licerKe with effect from 1st April 2024. Note 7 Investments 2024 2023 Investments held at fairvalue Totsl 944,335 908,582 Investments Kive ￿en valued at the market value as at 30 November 2024. Nots8 Debtors and prepaym 2024 2023 VAT Totsl 3.571 11,670 Note 9 editor5 aThJ accnjals ArThJunts falling due wthin one yeaf= 2024 2023 Other creditDrs 1.776 18.600 Accruals Total 3,076 19,900