THE MASASA FAMILY FOUNDATION
(Registered Charity No. 1201521 and Company No. CE031090)
ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
RAWLINSON
& HUNTER

THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS
Page
Annual Report of the Trustees
Independent Examiner's Report
statement of Financial Activities (including Income and Expenditure A¢¢ount)
Balants Sheet
Notes to the Financial Statements
10-15

Page 1
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report and independently examined financial statements of The Masasa
Family Foundation I'lhe Foundation. or °Ihe CIO"), for the year ended 31 December 2024. These have
been prepared in accordance with the accounling polici8s set out in note 1 and comply with applicable
charity law. The prior year comparalives for thp period from its incorporation on 6 January 2023 to 31
December 2023 were independenlly audited.
REFERENCE AND ADMINISTRATIVE DETAILS
The Masasa Family Foundation, (Registered Charity Number 1201521 and Company Number
CE0310901 is based and administered in the United Kingdom. The registered address is Orchard
Walls, The Close, Wonersh, Guildford. Surrey, GU5 OPA
Trustees:
The Truslees of the Foundation who held Offi￿ during the year and continue to serve at the date of
this report are:
John Edward Rigby Nolan
Ruby Maureen Nolan
Andrew Rigby Nolan
Susan Jane Leach
The Trustees did not hold any beneficial interest in the fund at 31 December 2024 or at any time
during or since the accounting period.
Bankers:
Lloyds Bank PLC
PO Box 1000 BX1 1 LT
Independent Examiner:
Yueling Wei FCCA
Eighlh Floor, 6 New Street Square. New Fetter Lane, London, EC4A 3AQ

Page 2
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Foundation is a charitable incorporated organisalion governed by its Constitution daled 6
January 2023 and is registered as a charity with the Charity Commission for England and Wales.
The Trustees are resident in the United Kingdom and meet regularly to discuss and develop the
Foundalion's goals and stralegy and lo review grant proposals and general granl requests.
The number of Trustees shall be a minimum of three and new Trustees shall be appointed by a
resolution passed at a properly convened meeting of the Foundalion's Trustees. The ranse of skills
represented on the Trustee Board will be kept under review as the Foundation develops over time.
Indu¢lion and Training
As part of their training, Trustees are made aware of thé Foundation's Constitution and the Charity
Commission guidan￿ on Trustees. Responsibilities. All Truslees are aware of their legal duties and
obligations in resped of Ihe management of the Foundation. including in relation to the protection of
its assets.
Statement of Trustses. Responsibilities
The Trustees are responsible for preparing the Annual Report of the Trustees and th8 finanGial
slatements in accordan￿ with applicable 18w and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice}.
The law applicable to charities in England and Wales requires the Trustees to prepare financial
slatements for each financial year which give a true and fair view of the slale of affairs of the
Foundation and of the incoming resources and application of resources, including the income and
expenditure of the Foundation for that period. In preparing these financial statements. the Trustees
aré required to:
select suitable accounting policies and then apply Ihem consistently.,
observe the methods and principles in the Charities SORP 2019 (FRS 102}',
make judgements and estimates that are reasonable and prudent.,
slatè whether applicable UK Accountin9 Standards have been followed, subject to any
material departure5 disc105ed and explained in the financial statements- and
prepare the financial statements on the going concern basis unless it is inappropriate lo
presume that the Foundation will conlinue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the Foundalion and enable them lo ensure that the
financial statements comply with the Charilies Act 2011 and where applicable, the Charities Act
2022, the Charity (Accounts and Reports) Regulations 2008 and the provisions of Ihe Foundation's
Constitution. They are also responsible for safeguarding the assels of the Foundation and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Internal Controls
The Trustees have overall responsibility for ensuring that the Foundation has appropriate syslems
of internal controls. They are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Foundation and enable them to ensure
that Ihe financial statements follow besl practice and all applicable law regulation and guidance. The
Truslees are also responsible for the Foundation safeguarding its assets and for taking reasonable
steps for the prevention and delection of fraud and other l￿egUlarl11es.
The system of Internal controls is designed to provide reasonable, but not absolute, assuran
against material misstatement or loss,
Risk Management & C¢xporate Governance
A risk assessment has been undertaken which comprlses:
An annual review of the risks the Foundation may face.,
The establishment of systems and procedures to miligale those risks.. and
The implementation of procedures designed to minimise any potential impact on the
Foundation should those risks materialise.
This continuing process will identify risk areas lo which the Foundation is vulnerable and highlight
any necessary safeguards that will need to be put in place. No major risks were identified al the
date of these accounts.
The Trustees have signed fit and proper declarations in line with HMRC guidance.
In addition, the Trustees have laken due consideration of Good Governan
A Code for the
Voluntary and Communily Sector, ensuring that the seven main principles of the Code are adhered
to. These are..
Organi5ational purpose..
Leadership,.
Integrity.,
Decision-making, risk and control;
Board effectiveness.,
Equality, diversity and inclusion-, and
Openness and aC￿SsIbl111y.
The Trustees reGognise that good governance plays an essential part in securing Ihe future of the
Foundation and confirm that the said main principles of the Code are followed by Ihem in leading,
directing and managing the Foundation.
No Trustee received any remuneration for the year ended 31 December 2024.

Page 4
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The objects of the Foundation are such exclusively charitable purposes, at such lime or tim8s and in
such manner, for the public benefit, as the Foundation Trustees may in their discretion think fit in
any part of Ihe wortd. The Foundation operates as a grant-making charity, supporting charitable
projects and organisalions with grants of varying sizes and durations.
The Truslees have defined a programme of grant-making to charities. For the foreseeable future.
the Foundation's primary focus will be lo:
prevent or relieve poverty worldwide for individuals in need-,
advance th8 health and wellbeing of the general public (including preventing or relieving
slckness, disease or suffering. as well as the promotion of good health).,
support programmes which promote and advance the education of the general public.. and
promote and support Christianity for the benefit of the general public.
The Trustees have pursued a broad strategy of ensuring proper due diligence in the assessment of
potential grants and 8nsuring that grants ar8 made subject to appropriat8 lerms and conditions.
Statement of Public Benèfit
As a granl-funder. the Foundation's activities will provide public benefit to the individuals and
ommunities who are benéficiaries of the Foundation's funded projects. Th8 Foundation's public
benefit is not limited with reference to geography, by the charging of fees or otherwise. The
Trustees are aware of the Charity Commission guidance on Public Benefrt and confim) that th8y
have complied with the duty in Seclion 4 of the Charities Act 2011 to have due regard to it. They
consider the infomiation which follows in this annual report, about the Foundation's aims, activilias
and achievements in the areas of interest that thé Foundation supports, demonstrales the b8nefit to
its beneficiaries and through them to the public. Ihat artse from those activities.
Grant Making Policies
The Trustees, grant making policy has been lo generally consider making donations by way of direct
funding and also by way of grants to charitable organisations recognised as such in their respecb've
jurisdictions for projects thal are exclusively charitable under English law. The Foundalion has
begun to put in place sound grant arrangernenls so thal it can properly select appropriate grantees
and impose prudent temis on grants, including, as appropriate, monitoring and evaluation of the
way in which funds are applied by granlÈes.
Fundraising
The Trustees have referred to the Charities (Protection and Social Investment) Act 20161"Ihe Act")
and the Guidance on Charities and Fundraising issued by the Charity Commlssion {"CC20"). They
confirm that the Act and CC20 have no impact on the charity as it does not engage in any public
fundraising activities.

Page 5
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
The Trusl was established in early 2023 and these accounts show the activities for the firs1 period
and the current year ended 31 December 2024,
Charitable Activities
During the year the Truslees conlinued their grant programme awarding a number of grants to
religious and religious adjacent organisations. All grants were paid in line wilh the policies set out in
section 3 of this report, Objectives and Activilies for the Public Benefit. A breakdown of areas of
grants made during the ygar is shown in Note 4 to the financial statements. The accounting
trealment in respect of granls is in line with that sel out in section 7 of SORP {FRS 102)-
Grants totalling £130,500 {2023'. £113.000) were awarded during the year. amounting to 98.1 %
(94.90/¢ for the period ended 31 De￿mber 2023} of total expenditure.
FINANCIAL REVIEW
The Statemenl of Financial Activities on page B shows total incoming resources for the year of
£303.997 (2023.. £1,017,473). £217 (2023: £100) was expended on raising funds relating to the
management of their investments and grant expenditure amounted lo £130,500 12023: £113,000).
Govemance costs amounted to £1,500 {2023: £4,800) and are included within charblable activities.
The principal funding for the Foundation came by way of voluntary donations from an unconnected
third party and there were no reslriclions attached to these. The funding has allowed the charity to
operate and award 22 granls12023'. 18 granls) to 17 organisations12023.' 13 organisations) totalling
£130,500 (2023 £113,000) which ha5 in tum benefitted hundreds if not thousands. A full list of
grantees is available on request.
The balance of reserves al 31 December 2024 is £1.076.315131 Decernb9r 2023= £906.322) and all
funds are unrestricted.
Investment policy and performance
Thé investment objeclive is to generale over the long term a lotal return per annum above inflation,
before granl making & expenditure, las measured by CPl+3.5 /.) while providing adequate liquidity
for annual grant making & 8xp8nditur8s. At current or 8ven higher grant making levels, this
approach should allow the Foundation at least to maintaln the value of its asséts whilst keeping to
the expected spend down schedule.
The Foundation relies on the investment portfolios to fund its granl making. The key risk to the long-
t8m suslainability of Ihe Foundation is inflation. over and above the spend-down schedule, and so
the assets should be invested lo mitigate this risk over the long tem. The trustees understand Ihat
this is likely lo mean that investment will be concentrated in real assets and that the capital value will
fluctuate.
The Trustees are satisfied with the performance of their inveslmenl Portfolios since they were gifted
the inveslments, which prodU￿d income during Ihe year of £21,943 (2023.. £6,811), realised gain
on disposal of investmenis of £8,398 (2023 Nil) and capital depreciation of £9,197 {2023=
appreciation of £7,979). The Trustees monitor perfomance of the underlying investments o
regular basis through face to face reviews, investmenl reports and comparisons to peer groups and
appropriate indices.

Page 6
THE MASASA FAMILY FOUNDATION
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW (continued)
Reserves Policy
The Trustees have examined the Foundation's requirement for resources in light of the main risks to
the Foundation and have no outstanding commitments or cAsh demands which are not adequately
covered by existing resources. The nel assets of the Foundation are regarded as free reserves and
the funds at 31 De￿mber 2024 will be retained to generate returns to make grants in accordance
with the Foundation's charitable ObJe￿S and any policies. The Trustees consider that the freely
expendable funds are appropriate and adequate taking into account plans for grants to be awarded
in future and have al present therefore nol designated any specific reserves. However, the Trustees
will keep this under constant review. In future years, a specific reseNes policy may be required.
PLANS FOR THE FUTURE
The Trustees do not propose to deviate from the current objectives and activities of the Foundalion
as detailed in Section 3 of this report bul will further develop and refine their strategies, policies and
procedures in future.
Approved by the trustees and signed
on their behalf by:
30 October 2025
John Nol8n
Dale

Page 7
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE MASASA FAMILY FOUNDATION
I report to the Foundation Trustees on my examination of the accounts of the Masasa Fatnily Foundation
for the year 8nd8d 31 Dec8mber 2024 which ar8 set out on pages 8 to 15.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 {'the Act,).
I report in respect of my examination of the Foundation's accounts carried out under section 145 of the
Act and in carrying out my exarninalion I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(bl of the Act.
Indepondent examln8rfs statement
sin￿ the Foundation's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the Act. I confimi Ihat l arn qualified to undertake the examination because l am a
member of the Association of Chartered Certified Accountants, which is one of the listed bodiés.
I have completed my examination. I confirm that no material matters have come to my attention in
onnection with the examination giving me cause to believe Ihat in any material respect..
accounting records were not kept in respect of the Foundation as required by section 130 of the Act.,
or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities {A¢counts and Reports) Regulations 2008 other than any
requiremenl 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 come across no other matters in connection with the examination to whlch
attention should be drawn in Ihis report in order to enable a proper understanding of the accounts to be
reached.
Yueling Wei FCCA
Chartered Cerlified Accountant and Independent Examin8r
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ

Page 8
THE MASASA FAMILY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
(including Income and Expenditure account)
FOR THE YEAR ENDED 31 DECEMBER 2024
Period 6
January to 31
December
2023
Page
2024
Income from:
Donations (note 2}
Inveslments (note 31
12
12
280.000
23,997
1,006,250
11.223
Total Income
303,997
1,017,473
Expenditure on:
Charitable Activities (noté 4)
Raising funds (note 5)
13
14
132,988
217
119,030
100
Total Expenditure
133,205
119,130
Net income before other recognised gains
170.792
898,343
Gains on investment assets (note 6)
14
(799)
7,979
Net income
169,993
906,322
Net movemènt in funds
169.993
906,322
Total Funds Brought Forward at 1 January 2024
906,322
Total Funds Carrled FoNiard at 31 December 2024
1,076,315
£ 906,322
l amounts relate to continuing op8rations.
There were no recognised gains and losses for the period ended 31 December 2023 or Ihe year ended 31
December 2024 other than those included in the Income and Expenditure Account.
The not8s on page 10 to 15 form part of Ihese financial statements

Page 9
THE MASASA FAMILY FOUNDATION
(Registered Charity No. 1201521 and Company No. CE031090
BALANCE SHEET
AS AT 31 DECEMBER 2024
Page
2024
2023
Fixed Assets:
Investments and cash under management {note 61
14
781,903
759,291
Current Assets:
Debtors (note 7)
Cash at bank (note 8)
14
14
3.695
292,217
5,399
147,632
Total Current Assets
295,912
153,031
Liabilities
Creditors - amounts falling due within one year (nole 9)
14
{1,500}
{6,000)
Total Liabilities
{1,500)
{6,000)
Net current assets
294,412
147,031
Total assets less current Ilabllltles
1,076,315
£906,322
The fund5 of the charity:
Unrestricted funds
1.076,315
906,322
Total charity funds
1,076,315
£ 906,322
The financial statements were approved and authorised for issue by the Trustees and w8r8 signed on
their behalf by:
30 October 2025
John Nolan
Date
The notes on page 10 to 15 form part of Ihese financial statements

Page 10
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
Basis of Preparation of Financial Statements
The Masasa Family Foundation I'the Foundation" or"Ihe CIO'}, registered charity number 1201521, is
based and administered in the United Kingdom. The registered address is Orchard Walls, The Close,
Wonersh, Guildford, Surrey, GU5 OPA. The nature of the Foundalion's operations and principal
activities are set out in the Annual Report of the Trustees.
The financi81 statements have been prepared in 8ccordance with Ac¢ounting and Reporting by
Chartties.. Statement of Recommended Practice appllcable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102) I'charib'es SORP FRS 102"). Iha Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland (FRS 102}. Ihe Charities Act 2011. and where relevant. the Charities Act 2022,
and UK Generally AC￿pted Accounting Praclice. The Truslees have applieé Ihe provisions sel out in
Charities SORP FRS 102 and on the basis of being a small charity have not included a ststement of
Cash Flow.
The Trust constilules a public benefit entity as defined by Charities SORP FRS 102.
The preparation of financial statemènts in accordance with generally accèpted 8c¢ounling principles
requires management to make estimates and assumptions in certain circumstances that affect reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at Ihe date of the
financial statements and Ihe reported amounts of revenues and expenses during the reporling period.
Actual results may differ from these estimates. The Trustees do not consider there are any estimales
and assumptions that have a significanl risk of causing a material adjustment to the carrying amounts of
assets and liabilities at the year end.
The financial statements are prepared in sterling which is the functional currency of the Foundation.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied lo all years presented unless otherwise slated.
Incoming Resources
All incoming resources are included in the Slatement of Financial Aclivities (SOFA) when the
Foundalion is entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary donations include donations under Gift Aid with the associated tax credits included when
receivable.
Inveslmenl income is derived from inlerest and dividends receivable from investments and is accounted
for in the period in which the Foundation is entitled to receipt. Interest from bank accounts are included
when receivable only.
R8sour¢es Expended
All expendilure is included on an ac¢rLJals basis and is recognised when there is a legal or constructive
obligation committing the Twslees lo the expenditure. Irrecoverable VAT is charged againsl Ihe activity
for which expenditure was incurred.
Charitsble aGtivities include governance costs incurred during the period and are expended through the
SOFA. Govem8nce costs are costs relating lo the general running of the Foundation, as opposed to the
management functions inherent in generating funds.

Page11
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES (continued)
Grants payable
Grants payable are made to third parties in furtherance of the Foundation's objects. Single or multi-year
grants are accounted for when either the recipient has a reasonable expectation thal they will receive a
grant and the Trustees have agreed to pay the grant without condition.
Flnancial instruments
The Foundation only ha5 financial 8ssets and financial liabilities of a kind that qualify as basic financial
instnjments. Basic financial instruments are recognised at transaction value and subsequently
measured at their settlement value.
Fixed Asset Investments
Quoted inveslments are included at closing market V81ue at the Balan￿ Sheet date. Realised gains
and losses on investments are recognised on disposal on investments and any gain or loss on
revaluation is taken to the SOFA. The determination of any gains and losses is calculated by reference
to the value of such assets at the beginning of the acwunting period.
Cash held for inveslment is included within the Fixed Assets Inveslments in accordance wtth the
applicable statement of Recommended Practice.
Stalus of funds
The entire resources of the fund are unrestricted and the Trustees have complete discretion for their
use in pursuance of the Foundation's objectives.
Foreign currency
Assets and liabilities denominated in foreign currencies are translated at th8 rate of exchange ruling al
the balance sheet dale. Transactions denominaled in foreign currencies are converted at the rale of
exchange ruling al the date of the Iransaction. All Iranslation diff6rences are taken to the statement of
rinancial aciivitie5 as they arise.
Taxation
The Foundation is not subjed to any taxes on its charitable activities. Irrecoverable VAT is charged
against the category of reSoUr￿S expended for which it was incurred.
Creditors payable within one year
Creditors with no stated interest rale and payable within one year are recorded at transaction price. Any
losses arising from impairment are recognised as expenditure.
Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held on call with banks, oiher short-term
highly liquid investments with original maturities of three months or less and bank overdrafts. Bank
overdrafts, when applicable, are included within borrowings in current liabilities.

P4e 12
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES {contlnued}
Provlslons
Provisions are recognised when the Foundation has an obligation al the Balance Sheet date as a result
of a past event, il is probable that an oufflow of economic benefils will be required in settlement and the
amount can be reliably estimated.
Golng concern
The Tiuslees have assessed whether th8 use of the going concern assumption is appropriate in
preparing these Financial Stalemenls. The Trustees have made this assessment in respect of atleast
12 months from the date of approval of these financial statements
The financial statements have been prepared on a going concem basis as the Trustees believe that no
matertal uncertainlies exist. The cu￿ent uncertainly in the global economy, including cost inflating
factors. have increased financial pressure on ¢harities. The Trustees have considered the level of funds
held, the expected level and security of income and committed expenditure for fwelve months from the
dale of signin9 of Ihese financial slatements. The Trustees are satisfied thè forecast income and
rese￿eS are sufficient lo cover all of the budgeted expenditure lo be able to continue as a going
concern. The Trustees therefore consider the adoption of the going concern basis in preparing thesé
financial statements continues to be appropriale.
Page
2024
2023
INCOME FROM DONATIONS
Donations received
Gift Aid tax relief
280,000
1,005,000
1,250
£ 280,000 £ 1,006,250
INCOME FROM INVESTMENTS
Canaccord Genuity portfolio
Deposit interest
21,943
2.054
6,811
4,412
£ 23,997
£ 11,223

P?ge13
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Pago
2024
2023
EXPENDITURE ON CHARITABLE ACTIVITIES
During the period, 22 grants were awarded and paid lo 17 organisations. These grants were
allocated according to the following categories: {2023: 18 grants to 13 organisations)
Grants payable:
Religious
Community Support
Health
Educalion and health
Humanitarian and m8dical aid
Life saving
Humanitanan and religious
Promotion of the arts
70,000
19,500
7,000
5,000
21,000
5,000
2.000
1.000
94,500
7.500
6,000
5,000
Total Grants payable
130.500
113,000
Support Costs:
Accountancy fees
Bank charges
840
148
1,200
30
Total Support costs
988
1,230
Gov6rnanco Costs:
Independent Examiner's fees
Auditors fees
1,500
4,800
Total Governance costs:
1.500
4.800
Total Charitable Activities:
£ 132,988
£ 119,030
A full list of grantees is available on request.
Auditor remuneration in respect of their audit of the Financial Statamgnts for the period to 31
December 2023 totalled £4,800 including VAT.
There were no employees in respect for Ihe period ended 31 December 2023 or year ended 31
December 2024.

Page 14
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
2024
2023
EXPENDITURE ON RAISING FUNDS
Investment Management Fees:
Canaccord Genuity custody fees
217
100
217
100
FIXED ASSET INVESTMENTS
Quoted investments and cash under management
Investments at market value as at 31 December 2023
Nel additions at cost
748.813
22,660
740,834
771,473
740.834
Realised gain on disposals
Unrealised (lossygain on revaluation
8,398
(9,197)
7,979
Net Gain on Investment Assets
(799)
7,979
Market value at 31 December 2024
Cash
770,674
11,229
748,813
10,478
Total Value at 31 December 2024
781,903 £
759,291
DEBTORS
Accrued interest
3,695
5,399
3,695
5,399
CASH AT BANK
Lloyds Bank
292,217
147,632
£ 292.217
£ 147,632
CREDITORS. amounls falling due within one year
Audivlndependenl Examlner's fees
Accountancy fees
1,500
4,800
1,200
1,500
6,000

Page15
THE MASASA FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10. RELATED PARTY TRANSACTIONS
No Trustee re￿iVed any remuneration or reimbursement of expenses during the year ended 31
December 2024 (2023.. none).
11. ULTIMATE CONTROLLING PARTY
The Trustees consider that the Foundalion is jointly controlled by the Trustees and that there is no
ultimate controlling party.
15. FINANCIAL INSTRUMENTS
Page
2024
2023
The cary amounts of the Trust's financial instruments ar8 as follows..
Financial assets
Measured at fair value through SOFA..
-Fixed asset investments
781,903
759,291
Measured at amortised value
-cash at bank and in hand
-Debtors
292,217
3,695
147,632
5,399
Flnancial liabilities
Measured at amortised cost
-creditors
1,500
6,000
The net gains{losses) attributsble to the Trust's financial instruments are summarised as follows..
Income and 0X￿n$0
Measured at fair value through SOFA=
-Net (losses)/gains (inGluding Changes in fair value)
1799)
7,979