The Dow Clewer Foundation (A company limited by guarantee) Report and Financial Statements Year ending 30 September 2025 Charity number 1193608 Company number: 12914102
The Dow Clewer Foundatlon Th8 Dow Clewer Foundatlon Report of the trustses (including Directors, Report) for the year ending 30 September 2025 The truste6s (who are also the Directoys of the Company for the puOseS of company law) are pleased tr) present their annual dlrectors, report together th the finanual statements of the Charity the year ending 30 September 2025 which are also prepared to meet the requirements for a dire¢lors' re and accounts for Companies Act purposes. The charitable company is registered in England ar)d Wales. The finanal ststements cx)mply with the Charilies Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Charfties Statement of R6Gommended Practict {"Charities SORV) (applicable to charities preparing their accounts in accordance wth Ihe Financial Retxxiing StarKlar(l appIlble in the UK and Republic of Ireland IFRS 102) Issued in October 2019. Our purposes and activities The purposes of the charity are to make grants and charitable distributions aCing to the guidelines set out in the charitls grant making policy filed wtth C(ynpanies House. The Dow Clewer Foundation madè donatlons totslling £297.271 in the financial year ending 30 September 2025. 1000/0 of the funds spent were from unreslricted fvnds. and 0% were frorn restricted funds. The primary donatlons from unrestricted fijnds totalled £240,410, were spllt between three charities and one community amateur sports club, with the remaining £56,861 made as smaller donats.S (under £15,000 in aggreg8te p8r charity} to various established char5ties. The trustees have also had regard to ihe gUIdan issued by the Charity Commission on public Inerrt. Achlevements and perfomiance During the year, The Dow Clew8r Foundatlon rnainlain its o)mmitment to supporting charitable organlsations across the arts, education, cornmunity welfare, health, and youth developm6nt sectors. Slgniflcant grants were awarded to a number of tharities Lx)th in the UK and intemationally. The charity remained closely involved wtth Brass forAfrica. a charity of which R Dow is also a tNstee, helping to support its wort empowering disadvantaged chikJr8n and young people across Sub-saharan Afrlca through music education and life-skills training. AlongsKJe financial assislan, Ihe Foundation provided advic8. guidance and support with fundraising initiatives. Brass for Africa delivers programmes in Uganda, Rwanda and Llberia. helping young people develop confidenck. opwrtunity and soLMal inclusion through access to music and education. A longstsnding relationship with African Bush Camps Foundation was also maintsined through ongoing board Involvement and wider strategic support. African Bush Camps Foundation delivers community and conservalion projects across Zimbabwe, Zambia and Botswana. addressing cha116nges induding 8ducation, healthcare, food security. 8mpk)ym8nt opportunitb8s and vldIlfe (x)nseNatKSn. Within the arts sect. major support was provlded to the English National Opera and the Royal Ballet & Opera in recognrtion of their contribulion to the development and accessibility of opera and perfoming arts in lh& UK. Donations were also made to Donmar Warehouse. Gar5ington Opera, GlyndelxAJme Opera and the Academy of St Martln In th6 Flelds, helping to promote exCe1Ce and parttelpatlon In theatre and muslc. Th8 Foundation also retained its a$slation vth the Guildhall School of Music & Drama through wder support for the development of young mu&ctans and perforniers.
The Dow cler Foundallon Community and youth initialNes remained an irnwrtant fCS during the year, including 5UPPOrt for Cobras Basketball Club, helping to encourage partldpalion in sport and create opportunlties for young people at a local level. Further donatlons were made to th6 British Heart Foundalion. The Children's Ar Ambulance Service, Wokingham Foodbank. the RNLI. and Berkshire. Buckinghamshire & Oxfordshir8 Wildlife Trust. r8flecting the charity's ongoing commttment to health, emergency 5er¥ices. enmronmental conservation, and local community welfare initsatives. Flnanclal revlew The charity is furKled pllmarily by the Dow cer famity. During the peticxl. £297,271 of total funds were donated direcuy to charitable causes, £2,370 are expenses relating lo the independent examination of the charfly's annual accounts, and £528 w8re paid as bank charyes. commi&8lons on Investment purchas85, and oth6r govérnance•related fees. The charity Gontinued to invest in the Redmayne BOneY account in order to access financial instruments to earn interesl on the fvnds held, as cash in the thariws current accnt held with Cater Allen eamed zero interest. As part of the Investment Policy statement. instruments are thosen with a high degree of capital protection, while providing some yield on the cash invested so as to provide additional income towards the Charity's objects. During the FIn8nd Year. £7,555 was earned as income, against additional investment- related o)sts of £347. This represents a net POsltlv6 rèsu of £7,209. At the end of the perK>d, the charty had £231.909 in cash andlor liquid investrments to continue its purposes and activities in the follong year, had £3,139 in accrued. bul unpaid. interest income. and On had £2,370 in creditors due to the Independent Examinerfor th[ work on this yearfs ac(x)unts. The charity has no speufic reserves policy but the trustees consider the reserves are sufficient to meet the grant commitinents already approved as well as charitys governance and administrative costs. There are no uncertainties atx)ut the charivs abilty to (x)ntinue as a going concern. The charity has no fund or subsidiary undertaking that Is materially in deficit. Reference and administratbve details Charity Number: Cornpany number.. Registered Office: 1193608. registered wtth the charities Commission on 19.02.2021 12914102. incorporated at Compan$ House on 29.09.2020 Staple House, Eleanors Cross. Dunstable. Bedfordshire, LU6 1SU Our advlsors Independent Examiner Bankers Kirk Rice LLP Cater Allen The Courtyard. High sIet, At, Berkshire, SL5 7HP Santsnder House, 9 Nelson Street, Bradford, BD15AN DlrKtors and trnstees The directors of the charitable company (the tharity} are tis trustees ts the purpose of charity law. The trustees and offic*rs serving during the year were as follows:
The Dow Clewer Foundatlon Elected tnjstees: D Clewer RDOW PDOW Secretary H J Williams Currendy the charity has no f(K the recruitrnent and appointrnent of trusteos. structure, Governance and Management Govorning Document The Dcw Cl8wer Foundation is a MpanY limlted by guardrrtee govern by its Memorandum and Articl8S of Association dated 29 Septernber 2020. It is registered as a charity with the Charity Commission. Organlsation The board of trustees normally meets monthly to dKscuss grant prowsals. existlng chaNtable datiOnS, and general matt8rs of Ihe financial management and VernanCe of the foundation. R8latedpardes None of our trustees re1ve remuneration or other benefft thew work vAth the charity. Trustees. responslbllities in relatlon to the financlal statements The charity trustees {who are also the directors of The Dow Clewer Foundation for the purposes ofcompany law) are responsible for preparing a Trustees. Annual Report and f5nancial statements in accordance wlth applicable law and United Kingdom Acc(rtJnting StaThJards (Untt&d Kingdom Generally Accepted Accounting Practice). The report and accounts have been prepared in accordance the provisions in the Companies Act 2IY)6 relating to small Gompanies. Company law requires the charity tnjstees to prepare financial statements for eath year which give a true and fair wew of the state of affairs of the charitable company and the group and of the incx)ming soUrc&S and application of resources. including the income ar expenditure. of charitabla group that year.ln preparing the finanual statements. the trustees are required lo: Select suitable accounting policies arrtl then app thern consistent]y,' Observe the methods and principles In Ihe Charities SORP. Make judgements and estitnates that are reasonable and prudent. State btheth8r applicable UK aC(xnting standards have been fdlowed, subject to ary materfai departures disdosed and explained in the financial ststements; and Prepare the finarKial statements on the going concem basis unless f( is inappropriate to presume that the charity will continue in operatKIn. The truslees are responsible for keepiw adequate aLuunting records that disclose with reasonable accuracy at any tlme the ffinancial positson of the charity and to enable them to ensure that the financial statements comply wtth the Companles Act 20. They are also responsible for safeguarding the ass8ts ofthe charlty and the group and hence taking reasonable steps for the prevention and detection of fraud and o(her irrogularilies. By order of the board of trustees D Clewer (Chair) 10.06.2026
The Dow Clewer Foundallon Independent examineffs report lo the trustees of The Dow Clewer Foundatlon I report to th8 ttustees on my examination of the financial statsmenls of The Dow Clewer Foundation (the charity) for the year ended 30 SeptemtEr 2025. Responslbllltles and basls of report As the charity's tNstees land also ils direcors for the purposes of compary kw) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act,). Having 5alsfied myselfthat the accounts ofthe Company are not requlred to audited under Part 16 of the 2006 Act and are eligible for independent examlnatTron. I r8POrt in respect of my examination of your charlty's accounts as ¢arrfed oui under section 145 of the Charlties Act 2011 ('the 2011 A('). In carrying oul my examination I have followed the Directions gNen by the Charity Commission under section 145(5} {b) of the 2011 Act. Indopend6nt examine5 statemént Slnce the Company's gross income exceeded £2,000 your examlner musl be a member of a body listed in saclion 145 of the 2011 Act. l (x)nfirm that l am qualified to undertake the examination because l am member of ICAEW, which is one of the listed iK)dies. I have completed my examinalvjn. I confirm that no matters have come to my attention in connecton with the axamination gimng me cause to lIeVe. 1. al)Unting reoyds wero not kept in respect of the Company as required by section 386 of the 20 Act., or 2. the accounts do not accord with those rec1$. or 3. the accounts do not compty with the accounting requirements of Secti 396 of the 2006 Act oth8r than any requirement that the accounts give a Ye and fair view whith 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 prfndples of the Statement of Recommend@d Practice accounting and repK)rting by charities appli(able to chartlies preparing their accounts In aCCanCE wth Ihe Financial ReportirKJ Standard applicable in the UK and Republic of Ireland (FRS 102). I have no CA)ncems arKI have corne across no other matters in cOnntIon th the examination to which attention shoukl be drawn in this report in (Kdgr to enab a prow understsnding of Ihe accounts to be reaGhed. Andrew Beet FCA Date: 10.06.2026 Kirk Rice LLP The Coutyard High Street. Ascot, BerkSre. SL5 7HP
The Dow Clewer Foundatlon Statement of Flnanclal Actlvltles Year. Isi Odobgr 2024 to 3Gth Sepl8mber 2025 Total Funds Unrestricted Restrlcted Funds Funds Note Inrne: Donations and lega(aes 250,CKK) 250,000 Interest Rec6ived 7.555 Total Incomè 257.$55 257,555 Expendlture: Expenditure on th8ritable aclivilies Revaluation of investments 300.169 139 3(KJ,189 139 Total expendlture 300,308 Net incomel(expendlture} and net movement In funds for the year (42,753) {42,753) Reconclllatlon of funds Total funds brought forward 275,217 214 275.431 Total funds carried forward 232A64 214 232,678
The Dow Clewer Foundatlon Statement of Financial Athhles Year.. 1 October2023 10 3[ S8ptemb8r2024 Total Funds Unrestrlcted Roslrfdod Funds Funds Note Income: Donations and legacies 250.000 12.500 262,500 Interesl Received 4,294 4.294 Total Incom8 254,294 12,500 266,794 Expandltura: Expenditure on CharItab aclivfaes 12.286 266.931 Total expendlturo 2x645 12,286 266,931 Net incomol{oxpenditure} and net movement In funds for the year (351) 214 (137) Reconclllatlon of funds Total fijnds brought forward 275,568 275,568 Total funds carrled foThvard 275.217 214 275,431 The statement of financial activtties includes all gains and k)sses regnised in the year. All income and expenditure derive from wntinuing acbvilies. The statement of financial activities also complies wtth the requir8m8nts for an incorne and expenditure account under th8 Companies Act 2006.
The Dow Clewer Foundatlon Balance Sheet 30 September 2025 30 September 2024 Note Current assets Debtors Investments Cash at bank and in harKI Total Current Assets 3.139 150,435 81.474 235,048 174,451 103,200 277,651 Llabilities Creditors f811ing due within one yoar Net Gurrenl Assets 10 (2,370) 232,678 12,220) 275A31 The funds of the charity: Unrestrided income funds Restricted income funds 232,464 214 275.217 214 Totsl Charity Funds 232.678 275,431 The company Is entitled to the exemption from the alit requirement contained in section 47T of the Companies Act 2006, for the year ended 30 September 2025. The knjstees ad(nowledge their responbIlItIeS for ensurtng that the charity keeps accounting records which comply with section 386 of the Act and for preparing ffinancial statements whith give a true and fair M8w of the state of affairs of the company as at the end of the financial y6ar and of its incoming resources and application of resources. Including its incx)me and expenditure, for the financial year in accordanc8 wf(h the requirements of sections 394 and 395 and which otherwise comply vAth the rgquirem8nts of the Companies Act 2006 relating to financial statements. so far as applicable to the company. The members have nol r8qulred the company to obtain an audit of ts finandal statents for the year in question in accordance with seL#K)n 476. These finanaal slatemenls have been pr8pared in ac(thanc8 with the pmisions applicabte to companl8s 8ubject to the small C(PanieS re9ime. The finanaal statements were approved by the Trustees on 10.062026 Signed:................-........-... Name DAWN CLEWER , Chair of trustees on behalf of the frte8s. Company regiStion no. 12914102
The Dow Clewer Foundatlon Notes on the accounts - Yearendry 3(P) S8ptsmb8r2025 Ac¢ountlng Policies The principal accounling policies adopted. judgements and key sources of estimation unc*rtainty in the preparation of tho financial slalemènts are as follows.. a) Basis of preparation The financial statements have been prepared in accordan with th8 Charities: Statement of Recommended Praclice (applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicab In tho UK Republic of Ireland {FRS 102}> (issued in October 2019) - (Charlti85 SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CFnIeS Act 2006. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisi¢)ns in the SORP for charities applyng FRS 102 Update BUltIn 1 not to pr8par8 a Staternenl of Cash Flows. The financial statements are prepared in sterfing. which is the fijnclional currency of the charty. Monetary amounts In these ffinancial statements ar8 rounded to the nearest £. The accounts are presented forth8 year frcyn 1st October 2024 to 30 September 2025. b) Golng Conrn Al the time of approving the financial slalements. the trustees are not aware of any material uncertaintl8s about the chariws ability to Ix)ntinue as a going concern and have a reasonab18 expectation that the charlty has adequate resources to cnntinue in operatlonal existence for the foreseeable future. Thus the trustees have adopted the going concem basis of accounting in prep8ring the financi81 statements. The Dow-clewer famity has discussed its intention to continue supporbng the charity with further significant donatK)ns in the upcomlng year. The charty also may make commitments to give grants in the upcoming year, but as at the time of writing the total cx)mmitments do not exceed the Current cash at bank hdd by the charlty. c) Income Income is recognised when the charity is legally entitled to it after any lFOanCe ¢ondilions have been met, the amounts can be measured reliably. arKI it is probable that income wll be received. d) Fund accounting Unrestricted tunds are avallable to spend on adivtlies that further any of Ihe purposes of thè charity. Restrlcted ftjnds are donations which the donor has spectfied are to be solely used for particular areas of the charitys work or for projects being 5UPPOrted by the charity. Expendiiure and irrecoverabie VAT Expenditure is rgnised once there is a legal or conslnjctive obligation to make a payment to athird paty, it is probable that settlement V11 be required and the amount of the oblallOn can be measured reliably. Debtors Trade and other debtors are COgniSed at the Settment amount due after any transaction occurs which trigg6rs an amount owing to the charity in the future.
The Dow Clèwer Foundatlon g) Investments Current asset investments comprise cash and cash 8quiv8lents held for investments purposes arKI int8nded for r8alksalion within one year. h) Creditors and prowsM)ns Credilors and provisn$ are recognised where the charity has a present obligation resulting from a P8St event that TrMII probably result in the transfer of funds to a third paty ancl the amounl due to settle the obligation can be measured or eslimated rellably. Credttors and provlsions are normally r8cognis8d at their setuement amount after alk)wing for any discounts due. Legal status of the Trust The Trust Is a charitable company limited by guarantee incorporated in England and Wales and has no share capital. Th8 reglstered office is Staple House. Eleanors Cross, Dunstable. Bedfordshlre LU6 1SU. In the event of a vlnd up or liquidation, its mernbers will guarantee an amount of £1 each for payment of costs arKI associated charges. In¢ome fr( donations and legacies Donatlons FY25 FY24 Gifts 250,000 250,000 262,500 262,500 The incom8 from donations and18gacies was £250.000. of which all was unrestricted. Analysls of expenditurè on charitable actlvttles Restrfcled Unr8strf¢ted FY25. £ FY25. £ Total FY25, £ Brass for Afrtca 156.610 156,610 Cobras Basketball Club 35.0(K) 35,000 ENO 25,000 25,000 23.800 Royal Opera H¢wse Other Donatlons 56,861 56,861 Examlnerfs fee 2.370 2,370 Bank & Gov8mance fees 528 Total 300,169 300.169 Expendlture in FY25 on charitable actiwties vms £3(Kl.169 of vthich all was unrestrfcted. 10
The Dow Clewer Foundatlon All grants were made to institutions. R8strl¢tod Unrestricted FY24. £ FY24. £ Toial FY24, £ Brass for AfrEca 78.495 78.495 Gulldhall 32.500 32.500 ENO 26,930 25.CKiO 26,930 Royal Opèra Hous8 25.000 Cobras Baskètball Club 15.000 15.01)O Other Donations 12.286 73.174 Examinerfs fee 2220 2.220 Bank & Govemance fees 1.326 1.326 Total 12,286 254,645 266,931 Expenditure in FY24 on charitable acaivittes was £266,931 of which £254.645 was unrestricled and £12,286 was restricted. All grants were made lo institutions. Trustee romuneradon and expenses The charity trustees were not paid and did not receive any other beneffts from employment with the charity in the year. A lotal of £5,465 was reimbursed in the year to three trustees where they made donations that uld not be made from the charity bank account. No trustee received payment for professional or othor s8Mces supplied to the charity. Staff Numbers The foundation employs no staff. Related party transactlons A donation of £100,000 was received from Robert Dow during the year, in respect of which £25.000 in Gift d was claimed. A donation of £125.000 was reiVed from Matusadona Ltd. a ¢x)mpany registered In Jersey which is owned and controlled by Robert Dow. Patrick Dow and Ella Dow. Corporatlon Taxation The charty is exempt from tax on income and gains falling wilhin seclion 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exienl that these are applied to its charitabte objects. 11
The Dow Clewer Foundation Debtor5 FY25 FY24 Other debtors 3.139 3,139 10 Creditors: amounts falling due wlthin one year FY25 FY24 Other ceditorS and accruals 2.370 2,370 2.220 2.220 12