REGISTERED COIAPANY NUMBEK CE024725
REGISTERED CHARrrY NUMBEK. 119328J
Re
rt of the Trustees and
Unaudited Financial Statements
for the Period
12023 to 31 Jul 2024
fc
The Old Herefordian Fund CIO
Thjme Widgery Acc￿Jnts￿y Ltd
Chartered Accountants
2 Wyevale Business Park
Klngs Ac
Hereford
Herefordshire
HR4 7BS

The Old Fkbrefordian Fund CIO
Contents of Financial Strte￿nts
for the Perlod 6
ri12￿23 to 31 Jul 2(T24
Refer￿￿e and Administrative DetaTIs
Rewrt of thè Trusteès
Independent Examlnerfs ReF¥Nt
Statement of Flnanclal Actmtles
Balan￿ Sheet
Notes to the FIn￿cIaL 5tstements
7 to 12
Detailed Statement of FinarKial ￿tIvitIeS
13

The Old Herefordian Fund CIO
Reference and Admlnlstrative Details
or the Perlod 6
rll 2023 to 31 Jul 2024
TRusfEES
NCBolt
R Ell15
J A Goldsmtth
RA Hammonds
GLKernp
C R Potter
DrLASeal
J R Sheldon
P H Williams
R J Blnner51ey Ico-optedl
REGisfERED OFFICE
2 Wyevaie BuslrEs5 Park
Kings Acre
Hereford
Herefordshlre
HR4 78S
REGisfERED COIAPANY NUMBER
CE024ll5
REGisfERED CHARrrY NUMBER
1193285
INDEPENDENT EX￿lINER
Thome Widgery ACc￿JntancY Ltd
Chartered Accountants
2 Wyevaie BUSI￿$ Park
Klngs Acre
Hereford
Herefordshlre
HR4 7BS
SOLICITORS
Eversheds
115 Coknore Row
Birmingham
B3 3AL
BANKERS
Barclays Bank UK PLC
Leicester
LE87 28B
Page 1

The Old Herefordlan Fund CIO
Re rt of the Trustees
for the peric￿ 6
2023 to 31 Jul 2024
The trustees pre*nt thelr rekx)rt the flnanclal statements of the Charltabie Incorporated Organlsatlon ICIOI for
the ended 31 July 2024. The trustees have adopted the provis1c￿S of Accountlng and Reporting by Charities:
statement of Recommended PrKtice aFplicable to charities preparing their accounts in accordance with the Flnanclal
ReFY)rtlng Standard appllcable In the UK and Rewblic of Ireland IFRS 1021 leffectlve 1 January 20191.
OBJEcfivES AND Acriv￿lEs
Objectlves and alms
The objects of the CIO are to carry out the wishes of Arthur ZimMem￿nn.S bequest of hi5 estate to The Old
Herefordlan Club, 'to used as to tr￿th capltsl and Interest for the trenefit of Hereford Cathedral 5chcM)l as the Old
Herefordlan Club should in its absolute diKretion think fit". To that end the original The Old Herefordian FunsJ" was
set up in 1975 as a Registered Charity. more recently, duriTra 2023, the assets and Ilabllltle5 were (k)nated to 7he Old
Herefordlan Fund CIO..
The maln %%ey that the now CIO, achleves its objectlves Is through ￿ provision of grants to the Hereford Cathedral
h￿1. In addition, the Charity leases property to Hereford Cathethal SchcKJl.
Publlc benefft
In drafting thi5 report. the trustees have ccfflplied with the duty In SectTOn 4 of the Charitie5 Act 2011, to have the
regard to publlc ￿nefIt gthdarKe wblished by the Charity CommIssi(￿.
ACHIEVEMEi¥f AND PERFORM4NCE
Charltable artfvltles
During the year, the asset5 and liabilities of The Old Herefordlan Fund (Charity) were transferred to The Old
Herefordian Fund ICIOI. reglstered number 1193285.
Regular contact 15 rnaintsined with the Heathnaster and the Bursar of Hereford Cathedral ScFK)ol, as b%pll as with the
Chalmian of Govemors.
Durlng the slxteen month perwjd a total of E208.CIJ] Iyear to 5 *il 2023: £156,Q)01 was donated to tPE Hereford
Cathedral School. Detalls of Indlwdual grants can be In the note5 to the acCo￿ts.
The Trustees. pollcy remalns to malntaln free re*ryes at a level that equates to approxlmately three m(￿th$ of
unrestrlcted charltabie e4Enditure . an amount that ha5 proved sufficient to wovlde for the wgoing bursary grants,
whlch by thelr nature are long-temi c(xnmitments, whlle leavlng 5ufflcient fund5 to cover support and govemance
costs.
The Chaiity Ct))wnlsslon reglstered the new CIO In January 2021, and the Charfty, now tIE Old Herefordlan Fund CIO,
wlth a new Registratlon Number. assets and liabilithe5 of the original charity were transferred thring 2022.23.
FINANaAL REVlf+V
Flnandal posftlon
The results for the Feriod can seen in the statement of flnanclal actlvltles. Free reseryes a￿ E112k 15 *pril
2023:£41 kl at the period end.
Re5erve5 poll
The re5eryes of the CIO are split tetween those that are restricted and unrestrKted as to use. Unresthrted fund5
appear to be at a high level, hol￿Ver the closing balance cornwises over £3.4 mllllon of investments in shares and
property which are held to generate inccrfTre, ￿lCh is then used to fulfil the objects of the CIO.
FWURE PLANS
The CIO ￿￿11 contlnue wlth Its supry)rt of The Hereford Cathedral Sch(x>l durfng the ¢omlng year. together with
reviewing Its investments to ensu￿ they a￿ achleving an appropriate rate of retum, ￿thin the risk constraint of a
charitable organisation.
Page 2

The Old Herefordian Fund CIO
Re rt of the Trustees
for the Pedixl 6
rll 2023 to 31 Jul 2024
STRucfuRE, GOVERNANCE AND MANAGEAIEKr
Goyernlng document
The CIO Is controlled by Its qovemlng dttument.
Recruftment and appolntment of new trustees
The maximurrt numter of Trustees is twelve, Presidents of the Club (being The Old Herefordian Ciubl will serve as
Trustees for the Fericxl of their office. This has been initiated to maintain the close links be￿n the Club and the
CIO as the method of app)fntlng twstees Iles wlth Trus*es of CIO dlrKdy.
ft￿ent aprxjlntments have beetl made wSth the Intentlon of Increaslng the e¥perfe￿￿ and experttse avallable to the
Fund and of lod¢ing to the future as older tW5tees retire.
If at any tlme nurnter of Trustees falls below four, new Trustees must be appolnted untll t￿1r numter is at least
f￿r.
Ory4ni5atlonal strurture
The trust is administered by the Trustees.
The Trustees have wi¢* FX)wers of Investment.
InthKtlon and traInl￿ of new tnjrtees
app)Intment , new Trustees are glven a brieflng ab)ut the CIO and Its wrpjse. They rneet with the Board as
soon as is practKabLe and are signposted to the Charity Commission gUIda￿e relevant to their role.
Appr¢)ve
ia.lii l.Z.(k.......................
order of tFr board of tru5tse5 9n .....
and signed on its iehalf by..
R A Hammonds . Trustee
Page 3

Inde ndent Examinerfs Re
The Old Herefordlan Fund CIO
to the Trustees of
Indepenthnt examlnerfs re[￿rt to the tN5tees of The Old He￿ftsrdlan Fund CIO
I report to the clwrlty trustees M my examlnatlon of the ¥¢ounts of The Old Herefordlan Fund CIO It￿ CIO) for th
period ended 31 July 2024
Responsibilities and basis of report
s the charity tntstees of the CIO y¢yJ are ￿spOnsIble for the preparation of the accounts In accordance wbth tFt
requirements of the charl￿e5 Act 2011 Ilhe Act'i.
I reFQrt in re¥ect of my examinati¢m of the CIO'S atto￿ts tarrted ¢￿t under Sectfon 145 of the Act and in carrying
out my exaM￿atIon I have followed all applicable Directions given by the Charity Commisslon un￿r Sectlon 1451511bl
of the Act.
Int*￿ndent examlnefs statement
I have cc#npleted my examlnatlon. I conflmi that no materfal matters have cfme to my attent1￿ In connectlon wlth
examinati¢￿ giving me cause to telieve that In any matsrlal ￿spect.
1. accwnting records were not kept in resFect of the CIO as requlred by Sectlon 130 of the kt; or
2. the accwnt5 do not accord wTth those records; or
3. the accounts do not comply applicable req￿rements coKernlng the form and ¢ontent of aCCo￿ts ￿t out
In Charities Ikcounts and Reports) Regulation5 20)8 otlrr than any reouirement that the acCC￿nts gfve a true and
falr vlew vthich Is not a matter tonsldE¥rÈd a5 part of an independent examination.
I have no corterns and have acr055 no other rnatter5 in Connecti￿ ￿th ￿ examination to vthich attention
should be drawn In thls reF(rt In order to enable a proper Lmderstanding of the accounts to ￿ reached.
Mr Kevin Tong
The Instltute of Chartered ACC￿Jntants In England and Wales
Thome Widgery Acc(MJntarq Ltd
Chartered Accountants
2 Wwale Buslne55 Park
Klngs Acre
Hereford
Hereford5hlre
HR4 7BS
Page 4

The Old Herefordian Fund CIO
Statement of Flnancial ActMt(es
for the Period 6
.12023 to 31 Jul 2024
Period
6.4.23
to
31.7.24
Total
funds
Year Ended
5.4.23
Total
funds
Unrestrfcted Restrfjcted
fund
fund
Notes
INCOME AND ENtM)WMEKfs FROM
DDnatl(m5 and lerdcles
40.(XK)
3,482,109
Investrnent Inco￿
265,077
278,435
Totsl
265.077
53,358
318 435
EXPEND￿uRE ON
Raising funds
4,813
159
4,972
5,131
Charitable actfvltles
Grant
208,CQO
156,(
Other
15,644
15,644
23,149
Total
Z20 457
8,159
Net sa￿s/(lo$Se$I on Investments
162 420
114,45n
MEf INCOME
217,927
34,312
252,239
3,407,199
RECONauATION OF FUMDS
Total funds tnught fotward
3,303.745
103,454
3.407.199
TOTAL FUNDS CARRIED FORWARD
35216n
137 766
3 659 438
3407 199
The note5 form part of the* financial statements
Page 5

The Old Herefordian Fund CIO
Balance Sheet
31 Jul 2024
31.7.24
Total
funds
5.4.23
Total
funds
Unre$trlcted
fund
Restrkted
fund
Notes
FIXED ASSErs
Investments
Listed Investment5
Investment proFerty
1,063.541
2 345 5Ci)
137,766
1,201,307
1,020,049
2,345.5QJ
3,4(9.041
137,766
3,546.807
3.365,549
CURRENT ASSETS
Cash at bank
115,631
115,631
44,150
CREDITORS
AM(￿nts falllng due vAthln Cl￿ year
10
13,1XXII
13,1XQl
12,51Xll
NEf CURREKf ASSErs
112 631
112.631
TOTAL ASSEfs LESS CURRENT UABILMES
3,521,672
137,766
3,659,438
3,407.199
NET ASSErs
3,521,672
137,766
3,659,438
3,407,199
FUNDS
Unrestrlcted funds:
General fund
RestrKted funds:
Number One Fund
3,521.672
3,303,745
137 766
TOTAL FUNDS
3 659 438
The financial
were approved by the Board of Trustees authorised for issue on
. and We￿ slgned on Its behalf by:
R A Hammon(is- Trustee
The notes fomi part of these fIna￿la1 statements
Page 6

The Old Herefordian Fund CIO
Note5 to the Financial staterr￿nts
for the Period 6
il 2023 to 31 Jul 2024
ACCOUNTING POLiaES
Bas15 of preparlng the flnandal statements
Tl* flnanclal statements of the CIO, which is a public ber￿fit entity under FRS 102, haye been prepared in
accordance the Charftle5 SORP IFRS 1C121 'Accountlng and Reporting by Charities.. Staterront of
Recommended Practlce appllcabie to charitles preparing their accounts tn accordance wlth the Financial
Reporting Standard applicable in the UK and Republ1¢ i)f Ireland IFRS 1021 leffectlve l January 2019),,
Flnanclal Reporting Standard 102 The Flnanclal Reportlro Standard applleabie In the UK and Rewbllc ol
Ireland and the chariti￿ Act 2011. The finarKial staterllents have been prepared under the historical cost
convention, with the exceptlon of Investments vthlch are Included at market val￿, as modlfled by the
revaluatlu) of certaln assets.
Goln8 concem
The trustees assess whether use of golng con￿rn Is appropriate l.e. ￿ther there are any materlal
uncertainties relatèd to event5 or conditions that may cast slgniflcant d￿bt on the ability of the to CIO
continue a5 a going concern. The trustees make thi5 assessrnent in resFect of a period of at Least one year
from the date of authorisation for issue of the financial statements and have concluded that the CIO has
adequate resources to continue in operatIc￿al existen￿ for the foreseeable fubjre and there are no material
uncertainties about the CIO'S ablllty to contlnue as a golng c¢Mcern. thus they continue to adopt the going
concern basis of aceixln￿ng In preparing the financial statements.
The Trustees have consldered tl* future of the organisation in light of the cuffent economic pressures and f￿1
that due to the nature of its income streams, they will not be adversely affected. However If It were to be
affec￿d, sav(ngs In expenditure can made In the short to medlLm term.
Lkn to these fact￿S, Trustees belleve organlsatltsn Is a 4olng ccrtem for the foreseeable future of at
Least twelve tnonths frcm date of signing these financial statements.
IrKome
All income is reCO￿lSed In the Statement of Financial Actiwtie5 once the charity has entitlement to funds,
It Is probable that the Income wll be received and the amcwnt can be rneaslred reliably.
Expenthture
Llabflltles are recognised as expenditure as soon as there Is a legal or constructive obligation c¢Jmmitting the
charlty to that exFenditure, it is probable that a transfer of economic b￿fits requireil In settlement
and t￿ amount of the thllgatlcn can be measured rellably. Expenthture Is accounted for on an accruals basls
and ha5 been classified under headlngs that aggregate all cost related to the category. Where costs cannot be
directly attrtbuted to particular heading5 they have been allocated to activitie5 on a basis crmsistent with the
use of resources.
Grants offered Subject to conditions which have not teen met at the year end date are noted a$ a
commitment but not aCCr￿d as exFendlture.
Investment property
Investment property is sho1￿ at m05t recent valuaticfi. Any aggregate surplus or deficit arising frcm changes In
fair va￿* is recognlsed In Statement of FIn￿claI Actmtles.
Taxation
The charlty Is exempt frcffi corpcfatIt￿ tax on its charttable actfvltles.
Fund accountlng
Unrestricted funds can be used In *¢￿dance wlth the ¢harltabie objective5 at the dixreticn of the trustees.
Restrkted funds can only be used for particular ￿strfcted pU￿S wlthln the objects of the charlty.
Restrktlon5 arise when Specified by the do￿ or when funds are raised for partlcular restrlcted wrposes.
Further eypianation of the nature and purFose of each fund Is Included in the notes to the flnanclal
statements.
Page 7
continued...

The Old Herefordian Fund CIO
Note5 to the Flnanclal Statements - continued
for the Period 6 A
-12023 to 31 Jul 2024
INvEsTMEk￿ INCOME
Period
6.4.23
Year Ended
5.4.23
31.7.24
Rents received
Insurance income
Portfollo Investment inccffie
236.020
205,924
230
278 435
RAISING FUNDS
Investment managernent Costs
Perlc*
6.4.23
Year Ended
5.4.23
31.7.24
Portfolio management
GRAi¥fs PAYABLE
Period
6.4.23
Year Ended
5.4.23
31.7.24
Grant
The total grants pald to 1nstltut1c￿S durlng the Ferlod was as foll￿.
Perfod
6.4.23
to
31.7.24
Year Ended
5.4.23
Hereford Cathedral School - MusTcians' Grant
Hereford Cathedral sc￿01 - Additi￿al Pwrsary
Hereford Cathedral School - Chorister5 Grant
Hereford Cathedral School - Bursary Fund
Number One Fund - Choristers Bursary
10.ts)0
33,￿)0
10.C4JO
147,000
10,
33,1
10,(
97,CXXI
Page 8
continued...

The Old ￿ref0rdian Fund CIO
Note5 to the Financial Statements - contin
for the Perlod 6
rll 2(r13 to 31 Jul 2024
NEf INcOMEI(EXPEND￿uPEl
Net itKomellexFendlturel Is ststed after charglngllcrethtlngi,.
Period
6.4.23
to
31.7.24
Year Ended
5.4.23
Examlners12024I and audltor$120231 lees
TRUSTEES. REMUNERATION AND BENEFITS
There %*re no trustees, remuneratlon or other beneflts f￿ the perfLxI ended 31 July 2024 nor for the year
ended 5 Aprll 2023.
There were no trustees, expenses paid frx the peric*J ended 31 July 2024 nor for the year ended 5 Awil 2023.
COMPARATIVES FOR THE STATElAEl￿ OF FINANaAL ACTivmES (YEAR TO 5141231
Unrestricted
fund
Restrictsd
fund
Total
funds
INCOME AND ENtX)WMEIITS FROM
tknnatI￿5 and legacles
3.365,685
116,424
3,482.1C
Investment Income
223 827
Tt)tal
3581 n8
3 705 936
EXPENDITURE ON
Raisiry funds
5,131
5,131
Charltable actMrl•s
Grant
150,OQJ
156,COJ
Other
Total
Net gaknsll1055esl on investments
INCOME
3,303,745
103,454
3,407,199
TOTAL FUNDS CARRIED FORWARD
3.303.745
Page 9
contlnwl...

The Old F￿ref0rdian Fund CIO
tes to the Fina￿la1 Statements - contin)ued
for the Perlod 6
ril 2023 to 31 Jul 2024
FIXED Ass￿ Ik¥VEsfMEIITS
Llsted
Investments
A{ARK￿ VALUE
At 6 Aprll 2023
Additions
Dlsposals
Revaluations
1.020,049
76,838
{58,(IXJI
162 420
At 31 July 2024
1 201 307
BOOK VALUE
At 31 July 2024
1 201 307
At 5 Aprll 2023
The CIO holds a mlx of UK and world%￿de Investments.
Cost or valuatfon at 31 July 2024 15 represented by-
Listed
Investments
Valuaticn in 2024
1 201 307
INVESTMENT PROPERTY
FAIR VALUE
At 6 Aprll 2023
and 31 July 2024
BOOK VALUE
At 31 July 2024
At 5 April 2023
Inyesbment Fwrties consists of:
2024
2023
29, 30. 30a Castle Street
2 CastLe Street
Zimmeman Bulldtng. Church Street
Belvedere Lane
The Moat
475,C
288,C(()
812,(KK)
475,((XJ
288,OJ)
812,(OJ
720,1
Hlstorical cost - for infomiation only
1 451 873
1 4518fJ
Page 10
continued...

The Old Herefordian Fund CIO
tes to the FinarKial Statements - contin
for the Perlod 6
12023 to 31 Jul 2024
INVE¥fMENT PROPEKfY- contlnued
Investment propetty was transferred frcth The Old Herefordfan Fund Icharftyl durlng year ended 5 Aprll
2023.
10.
CREDITORS: Ah¥JUNTS FALUNG DUE WITHIN ONE YEAR
31.7.24
5.4.23
Accruals and deferred income
MOVEMEirr IN FUNDS
Net
movement
In funds
At
31.7.24
At 6.4.23
Unrestrlctèd
General fund
3,303,745
217,927
3.521,672
Restrlcted funds
NLwnber One Fund
103,454
34.312
137,766
TOTAL FUNDS
252 239
3 659 438
Net mcverrent in funds, included in above are as follows:
Incoming
resources
Resources
exFtnded
Gains and
losses
knvernent
In funds
Unrestrlctèd furKIs
General fund
265,077
{220,457)
173,307
217.927
Re5trlrted funds
Number One Fund
53.358
18,1591
110,8871
34,312
TOTAL FUNDS
318 435
228 6161
162 420
252 239
Comparatfves for movement in funds
Net
movement
In funds
At
5.4.23
At 6.4.22
Unrestrlcted funds
General l￿d
3.303.745
3.303.745
Restrkted fund5
Number One Fund
103.454
103,454
TOTAL FUNDS
3,407.199
3.407 199
Page11
continL*d...

The Old Herefordlan Fund Cto
Note5 to the Flnanclal Statsments- continued
for the Period 6 A
2023 to 31 Jul 2024
IA0VEME1￿ IN FUND5- continued
Comparatlve net movement in fLTrnd5, included in above are as follows:
I￿oMIng
resource5
Resources
expended
Galns and
h￿Vernent
In funds
Unrestrlcted fund5
General fund
3.581.728
1178.2801
{99,7031
3,303,745
Restrlcted funds
Number One Fund
124,208
I6,C￿l
114.7541
103.454
TOTAL FUNDS
114,4571
3,407,199
Unrestrkted funds
Unresthcted funds cryTrprises over É3.4 Milli￿ of investments in shares and property. The incLvne and capttal
of the fund can be utlltsed to fulfil objects of the CIO.
Restrlcted funds
The Number One Fund wa5 established to provide Choristers Bursaries in line with ttr￿ original dcmrfs wishes.
12.
RELATED PARTY DISCLOSURES
There %%pre no reLited party tran5actsons dwing year.
Page 12