The Dow Clewer Foundation
(A company limited by guarantee)
Report and Financial Statements
Period ending 30 September 2024
Charty number 1193608
Company number: 12914102

The Dow Clewer Foundation
Tho Dow Clewer Foundation
Report of the trustees (including Directors. Report) for the period ending 30 September 2024
The trustees {who are also the Directors of the Company for the purposes of company law) are pleased to
present their annual directors, report together with the financial statements of the charty for the period ending
30 September 2024 which are also prepared to meet the requirements for a directors, report and accounts
for Companies Act purposes.
The charrtable company is registered in England and Wales. The financial statements comply with the
Charities Art 2011, the Companies Act 2006, the Memorandum and Artides of Association, and the Charities
Statement of Recomrnended Practice ("Charities SORW) (applicable to charities preparing their accounts in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland: FRS 1021
issued in Oclober 2019.
Our purposes and activities
The purposes of the charity are to make grants and CharItab￿ distributions according to the guidelines set
out in the chartty's grant making policy filed with Companies House. The Dow Clewer Foundation made
donations totalling £263,385 in the financial period ending 30 September 2024.
95010 of the funds spent were from unrestrFCted funds. and the remaining 5% were from restricted funds. The
single donation made from restricted funds (£12,286) was to support a project run by the African Bush Camps
Foundation. The primary donations from unrestricted funds totalled £177.925. were split betsveen five
charities, with the remaining £73,174 made as smaller donations (under £15,000 in aggregate per Chariiy) to
various established charities.
The trustees have also had regard to the guidan* issued by the Charity Commission on public benefit.
Achievements and perforniance
This year, The Dow Clewer Foundation made major donations to six charities across a broad range ofsectors.
Internationally, they continued lo support Afn'can Bush Camps Foundation, who run projects in Zimbabwe,
Zambia, and Botswana that focus on addressing challenges that include unemployment, food scarcity, poor
education and healthcare infrastructure, low school attendan￿ and dropouts due to financial constraints,
wildlrfe poaching, and preserving natural resources.
Donations were made wtthin the Music and Arts sector to the English National Opera's Harewood Artists
Match Funding Campaign, the Guildhall School of Music and Drama {GSMD), Academy of St Martin in the
Fields, and the Royal Opera House. The English National Opera (ENO) provides a bespoke programme of
vocal and language training. Successful applicants are coached by experts in their repertoire and are fully
supported through auditions for career-building performance opportunrties with ENO, around the UK and
abroad. Harewood Artists receive dramatic & movement coaching, perfomiance psychology, language
coaching, vocal massage, nutrition advice and breathwork as well as opportunities to leam from distinguished
artists and leading figures from the operatic world. The Charity also funded a scholarship for opera students
al GSMD to support their living expenses or tuition fees. The students to receive the benefit of the scholarship
were chosen at the discretion of the Opera departmental representative, and were awarded based on a mix
of criteria including (i) financial need, (li) talent and (iii) the potential to benefit from the funding.
The Dow Clewer Foundation are also actively involved in Brass for Africa. providing advice and guidance, as
well as participating in fundraising events. Brass for Africa's mission is to support thousands of marginalised
children and young people in Sutrttsaharan Africa to transfonn their lives, driving social impact and social
Justi￿ through music. BfA provide Music & Life-skills education to over 2,000 disadvantaged children and
young people a¢ross Uganda, Rwanda and Liberia every wee

The Dow Clewer Foundation
Significant support was also given locally to Bracknell Cobras Basketball Club, the Chiltem Way Academy
and the Wokingham Foodbank.
Financial review
The charity is funded primarily by the Dow Clewer family. During the period, £263,385 of total funds were
donated directly to charitable causes, £2,220 are expenses relating to the independent examination of the
tharity's annual accounts, and £1,326 were paid as bank charges, commissions on investment purchases,
and other govemance-related fees.
During the Financial Year, the charity opened an account with Redmayne Bentley in order to a¢￿$$ financial
instrumenls to eam interest on the funds held, as cash in the charity's current account held wth Cater Allen
earned zero interest. As part of the Investment Policy ststement, instruments are chosen with a high degree
of capital protection, while providing some yield on the cash invested so as to provide additional income
towards the Charty's objects. Despite only being implemented for a part of the year, £4,294 was earned as
income. against additional investment-related costs of £1,113. This represents a net positive result of £3,181
At the end of the period, the charity had £277.651 in cash andlor liquid investments to continue its purposes
and activities in the followng period, and only had £2,220 in creditors due to the Independent Examiner for
theirwork on this year's accounts.
The charity has no specific reserves policy.
There are no uncertainties about the chanty's abilty to continue as a going Gonom.
The charity has no fund or subsidiary undertaking that is materially in deficit.
Reference and administrative details
Charity number.
Company number.
Registered Office..
1193608, registered wtth the chartties Commission on 19.02.2021
1291402. incorporated at Companies House on 29.09.2020
Stsple House, Eleanors Cross. DUnstab￿, Bedfordshire, LU6 1 SU
Our advisers
Independent Examiner
Bankers
Kirk Rice LLP
Cater Allen
The Courtyard. High Street, Ascot, Berkshire. SL5 7HP
Santander House, 9 Nelson Street, Bradford, B015AN
Directors and trustees
The directors of the Charitable company (the charity) are its trustees for the purpose of charty law. The
trustees and ¢￿i￿rS serving during the period were as follows:
Eleded trustees:
D Clewer
RDOW
PDOW
EDOW
Secretary
H J Williams
Currently the charity has no policy for the recruitment and appointment of trustees.

The Dow Clewer Foundatlon
Structure. Governance and Management
Goveming Document
The Dow Clewer Foundation is a company limited by guarantee govemed by its Memorandum and Articles
of Association dated 29 September 2020. It is registered as a charity with the Charity Commission.
Organisation
The board of trustees nomally meets monthly to discuss grant proposals, existing charitable donations, and
general matters of Ihe financial management and g0Veman￿ of the foundation.
Relatedparties
None of our trustees re￿1ve remuneration or other benefft from their work with the charity.
Trustees, responsibilities in relatlon to tho financial Statements
The charity trustees (who are also the directors of The Dow Clewer Foundation for the purposes of company
law} are responsible for preparing a Trustees. Annual Report and financial stalements in accordance wilh
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting
Practi￿). The report and acwunts have been prepared in accordan￿ wrth the provisions in the Companies
Act 2006 relating to small companies.
Company law requires the chanty trustees to prepare financial statements for each year which give a true
and fair view of the state of affairs of the charitable company and the group and of the incoming resources
and application of resour￿$, including the income and expenditure, of the charitable group for that period.ln
preparing the financial statements, the tnjstees are required to..
Select suttable accounting policies and then appty them consistently-
ObseNe the methods and principles in the Charities SORP.,
Make judgements and estimates that are reasonable and prudent"
State whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
Prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume
that the charity will continue in operation.
The tnjstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and to enable them to ensure that the financial statements
omply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe charity
and the group and hence taking reasonable steps for the prevention and detedion of fraud and other
irregularities.
By order of the board of trustees
D Clewer (Chair)
17.06.2025

The Dow Clewer Foundation
Indèpendènt examine￿5 report to the trustees of The Dow Clewer Foundation
I report to the trustees on my examination of the financial statements of The Dow Clewer Foundation (the
charity) for the period ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees (and also its director5 for the purposes of company law) you are responsible for the
preparation of the accounts in accordan￿ wrth the requirements of the Companies Act 20061.the 2006 Act,).
Having satisfied mysew that the accourrts of the Company are not required to be audtted under Part 16 of the
2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's
accounts as ￿rrIed out under section 145 of the Charilies Act 2011 I'the 2011 Act,). In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the
2011 Act.
Independent examinerfs statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination bec2use l am member
of ICAEW, which is one of the listed bodies.
I have completed my examination. l GonfiTm that no matters have come to my attention in connection with the
examination giving me cause to believe-
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,.
or
2. the accounts do not accord with those records.. or
3. the accounts do nol comply wtth the accounting requirements of section 396 of the 2006 AGt other than
any requirement that the accounts give a 'tnJe and fair view which is not a matter considered as part of an
independent examination., or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities applicable to charities preparing their
accounts in aG¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102).
I have no con¢ems 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.
Andrew Beet FCA
Date:S06.2025
Kirk Rice LLP
The Courtyard
High Street, Ascot,
Berkshire,
SL5 7HP

The Dow Clewer Foundation
Statement of Financial Activities
P8ric¥d." 151 October 2023 to 3tP Septen7b8r 2024
Total
Funds
Unrestricted Restricted
Funds
Funds
Note
Income:
Donations and legacies
250,0(XI
12,500
262,500
Interest Received
4,294
4,294
Total income
254,294
12.500
266,794
Expenditure:
Expenditure on charitable adivities
254,645
12,286
266,931
Total expenditure
254,645
12,286
266.931
Net incomellexpenditure) and net
movement in funds for the period
1351)
214
(137)
Reconciliation of funds
Total funds brought foThvard
275,568
275,568
Total funds carrled forward
275,217
214
275,431
Statement of Financlal Actlvhles
Pern￿.. isl Octob8r 2022 to 3LP Septemb8r 2023
Unrestrlcted Restricted
Funds
Funds
TotalFunds
Note
Income:
Donations and legacies
250.000
18,625
268,625
Interest Received
37
Total income
250,034
18,628
268,662
Expendlture
Expenditu￿ on charitable activities
238.423
18,628
257,051
Total expenditure
238,423
18.628
257,051

The Dow Clewer Foundation
Net incomel{expenditure) and net
movement in funds for the period
11.611
11,611
Reconciliation of funds
Total funds brought fortrvard
263,957
263,957
Total funds carried fO￿ard
275,568
275,568
The statement of financial activities indudes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure
acGounl under the Companies Act 2006.

The Dow Clo￿r Foundation
Balance Sheet
30" September
2024
30" Septembgr
2023
Note
Current assets
Debtors
Investments
Cash at bank and in hand
Total Current Assets
174,451
103,200
277,651
276,228
276,228
Liabilities
Creditors falling due wthin one year
Net Current Assets
10
(2.220)
275,431
1660}
275,568
Thè funds of the charity:
Unrestricted income funds
Restricted income funds
275,217
214
275,568
Total Charity Funds
275.431
275,568
The company is entitled to the exemption from the audit requirement contained in section 477 of the
Companies Act 2006, for the period ended 30 September 2024.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which
comply with section 386 of the Art and for preparing financial statements which give a true and fair view of
the state of affairs of the company as at the end of the financial year and of its incoming resources and
application of resour￿5, including its income and expenditure, for the financial year in accordance with the
requirements of sections 394 and 395 and which otherwise comply wth the requirements of the Companies
Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audrt of its financial statements for the year in
question in accordance wth section 476.
These financial statements have been prepared in accordan￿ the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the TNstees on 17.06.2025
Signed..
Name DAWN CLEWER , Chair of trustees on behalf of the trustees.
Company registration no. 12914102

The Dow Clawer Foundation
Notes on the accounts - P8riG¥Y l& October 2023 to 3LVJ September2024
Accounting Policies
The principal acGounting policies adopted, judgements artd key sources of estimation uncertainty in the
preparation of the financial statements are as follows=
a) Basis of preparation
The financial statements have been prepared in accordanrR with the Charttl8s: 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)) (issued in
Odober 2019) - (Charities SORP (FRS 1021), the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity is a Public Benefft Entrty as defined by FRS 102. The chartty has taken advantage of the
provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement
of Cash Flows. The financial statements are prepared in steding, which is the functional currency of
the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts are presented for the period 1* October 2023 to 30 Septembèr 2024.
b) Going Concem
At the time of approving the financial statements, the trustees are not aware of any material
Un￿rtaIntieS aboLrt the charity's ability to continue as a going concem and have a reasonable
expectation that the charity has adequate resources to continue in operational existence for the
foreseeable future. Thus the trustees have adopted the going concem basis of accounting in preparing
the financial statements. The Dow-clewer family has discussed tts intention to continue supporting
the charity with further significant donations in the upcoming period. The charity also may make
commitments to give grants in the upcoming period, but as at the time of writing the total commitments
do not exceed the current cash at bank held by th& charity.
Income
Income is recognised when the charity is legally entitled lo it after any performance conditions have
been met, the amounts can be measured reliably, and it is probable that income will be received.
d)
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Restricted funds are donations whi¢h the donor has specified are to be solely used for particular areas
of the charity's work or for projects being supported by the charity.
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or wnstructtve obligation to make a payment to athird
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably.
Debtors
Trade and other debtors a￿ recognised at the settlement amount due after any transaction occurs
which triggers an amount owing to the chanty in the future.

The Dow Clewar Foundation
g) Investments
Currenl asset investments comprise cash and cash equivalents held for investments purposes and
intended for realisation wtthin one year.
h) Creditors and provisions
Creditors and provisions are reGognised 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 discounts due.
Legal status ol the Trust
The Trust is a charitable company limtted by guarantee incorporated in England and Wales and has no
share capital. The registered office is Staple House, Eleanors Cross, Dunstable, Bedfordshire LU6 1SU. In
the event of a wind up or liquidation, its members will guarantee an amount of £1 each for payment of costs
and associated charges.
Income from donations and legacies
Donatlons
FY24
FY23
Gifts
262,500
262,500
268,625
268,625
The income from donations and legacies was £262,500. of which £250,Crt)O was unrestricted.
Analysis of expenditure on charitable activities
Restricted Unrestricted
FY24, £
FY24, £
Total
FY24, £
Brass for Africa
78,495
78,495
Guildhall
32,500
32,500
ENO
26,930
26,930
25,000
Royal Opera House
25,000
Cobras Basketball Club
15,000
15,000
Other Donations
12,286
73,174
8S,460
Examinerfs fee
2.220
2,200
Bank & Governance fees
1,326
1.326
Total
12,286
254,645
266.931
10

The Dow Clewer Foundation
Expenditure in FY24 on Gharitable aGtt¥ities was £266,931 of which £254,645 was unrestrided and
£12,286 was restricted.
Restricted Unrestricted
FY23, £
FY23, £
Total
FY23, £
Brass for Africa
75,350
75,350
Chiltem Way Academy
BHF CureHeart
30,000
30,000
ENO
25.000
25,000
Cobras Basketball Club
25,000
25,000
Royal Opera House
23,650
23,650
Other Donations
18,628
58,477
77,105
Examinerfs fee
690
690
Bank & Govemance fees
256
256
Total
18,628
238,423
257,051
Expenditure in FY23 on charitable activities was £257,051 of which £238,423 was unrestricted and £18,628
was restricted.
Trustee remuneration and expenses
The charity trustees were not paid and did not ￿￿1ve any other beneffts from employment with the charity
in the period, nor were they reimbursed expenses during the period. No charity trustee received payment
for professional or other Servi￿ supplied to the tharity.
staff Numbers
Th8 foundation employs no staff.
Related party transactions
A donation of £200,000 was received from Robert Dow during the perÉod, of which £50,000 in GiftAid was
claimed.
Corporation Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or
section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that thes8 are applied to its
haritable objects.
11

The Dow Clew8r Foundation
Debtors
FY24
FY23
other debtors
10 Creditors: amounts falllng due within one year
FY24
FY23
Other creditors and a¢Gruals
2,220
2,220
660
660
12