| Trustees | Mr TG White | (Appointed 13 February 2023) |
|---|---|---|
| Mrs CJ White | (Appointed 13 February 2023) | |
| Mrs JL D'Angelo | (Appointed 13 February 2023) | |
| Mr AEJ Hall | (Appointed 13 February 2023) | |
| Senior management | Mr T G White | Chair |
| Mrs J L D'Angelo | Administrative role | |
| Charity number (England and Wales) | 1201929 | |
| Principal address | The Grange | |
| Longmeadow | ||
| Lode | ||
| Cambridge | ||
| CB25 9HA | ||
| Auditor | Whitings LLP | |
| Fenland House | ||
| 15B Hostmoor Avenue | ||
| March | ||
| Cambridgeshire | ||
| PE150AX | ||
| Bankers | Lloyds Bank | |
| 98 Victoria Street | ||
| London | ||
| SW1W 5JL | ||
| Investment advisors | City Asset Management PLC | |
| 7 Bishopgate | ||
| London | ||
| EC2N 3AR |
| Page | |
|---|---|
| Trustees' report | 1 -4 |
| Statement of trustees' responsibilities | 5 |
| Independent auditor's report | 6-8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12-18 |
| Unrestricted Total | Unrestricted Total | ||
|---|---|---|---|
| funds | |||
| 2024 2024 | |||
| Notes £ £ | |||
| Income from: | |||
| Donations and legacies | 3 | 3,500,000 | 3,500,000 |
| Investments | 4 | 96,210 | 96,210 |
| Total income | 3,596,210 3,596,210 | ||
| Expenditure on: | |||
| Charitable activities | 5 | 2,395 | 2,395 |
| Investment management costs | 16,211 | 16,211 | |
| Other expenditure | 8 | 3,561 | 3,561 |
| Total expenditure | 22,167 | 22,167 | |
| Net gains/(losses) on investments | 42,287 | 42,287 | |
| Net income and movement in funds | 3,616,330 3,616,330 | ||
| Reconciliation of funds: | |||
| Fund balances at 13 February 2023 | |||
| Fund balances at 5 April 2024 | 3,616,330 3,616,330 |
| 2024 | ||
|---|---|---|
| Notes | £ £ | |
| Fixed assets | ||
| Investments | 10 | 3,098,613 |
| Current assets | ||
| Debtors | 12 | 123 |
| Cash at bank and in hand | 518,655 | |
| 518,778 | ||
| Creditors: amounts falling due within one year | 13 | (1,061) |
| Net current assets | 517,717 | |
| Total assets less current liabilities | 3,616,330 | |
| Net assets | 3,616,330 | |
| The funds of the Foundation | ||
| Unrestricted funds | 14 | 3,616,330 |
| Total funds | 3,616,330 | |
| The financial statements were approved by the trustees on | izKfx^ | |
| Mr TG White | /^FS^ ;J White |
|
| Trustee | ^t see |
| 2024 | ||
|---|---|---|
| Notes | £ £ | |
| Cash flows from operating activities | ||
| Cash generated from operations | 17 | 3,478,771 |
| Investing activities | ||
| Purchase of investments | (3,056,327) | |
| Investment income received | 96,211 | |
| Net cash used in investing activities | (2,960,116) | |
| Net cash generated from financing activities | ||
| Net increase in cash and cash equivalents | 518,655 | |
| Cash and cash equivalents at beginning of period | ||
| Cash and cash equivalents at end of period | 518,655 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | |||
| 2024 | 2024 | ||
| £ | £ | ||
| Donations and gifts | 3,500,000 | 3,500,000 | |
| 4 | Income from investments | ||
| Unrestricted | Total | ||
| funds | |||
| 2024 | 2024 | ||
| £ | |||
| Income from listed investments | 51,762 | 51,762 | |
| Interest receivable | 44,448 | 44,448 | |
| 96,210 | 96,210 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | |||
| 2024 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Grant funding of educational courses | 2,000 | 2,000 | |
| Grant funding of activities (see note 6) | 395 | 395 | |
| 2,395 | 2,395 | ||
| Analysis by fund | |||
| Unrestricted funds | 2,395 | 2,395 | |
| 6 | Grants payable | ||
| Unrestricted | Total | ||
| funds | |||
| 2024 | 2024 | ||
| £ | £ | ||
| Grants to individuals | 395 | 395 |
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2024 | 2024 | |
| Bank Fees | 30 | 30 |
| Insurance | 105 | 105 |
| Website & IT Costs | 2,435 | 2,435 |
| Financing costs | 956 | 956 |
| Other expenditure | 35 | 35 |
| 3,561 | 3,561 |
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 13 February 2023 | |
| Additions | 3,056,327 |
| Valuation changes | 42,287 |
| At 5 April 2024 | 3,098,614 |
| Carrying amount | |
| At 5 April 2024 | 3,098,614 |
| 11 | Financial instruments | |
|---|---|---|
| 2024 | ||
| £ | ||
| Carrying amount of financial assets | ||
| Instruments measured at fair value through profit or loss | 3,098,614 | |
| 12 | Debtors | |
| 2024 | ||
| Amounts falling due within one year: | £ | |
| Prepayments and accrued income | 123 | |
| 13 | Creditors: amounts falling due within one year | |
| 2024 | ||
| £ | ||
| Trade creditors | 461 | |
| Accruals and deferred income | 600 | |
| 1,061 |
| At 13 Incoming Resources Gains and At 5 April | |
|---|---|
| February 2023 resources expended losses 2024 | |
| £ £ ££ £ | |
| General funds | 3,596,210 (22,167) 42,287 3,616,330 |
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2024 | 2024 | |
| £ | £ | |
| At 5 April 2024: | ||
| Investments | 3,098,613 | 3,098,613 |
| Current assets/(liabilities) | 517,717 | 517,717 |
| 3,616,330 | 3,616,330 |
| 17 | Cash generated from operations | 2024 |
|---|---|---|
| £ | ||
| Surplus for the period | 3,616,330 | |
| Adjustments for: | ||
| Investment income recognised in statement of financial activities | (96,210) | |
| Net gains/( losses) on investments | (42,287) | |
| Movements in working capital: | ||
| (Increase) in debtors | (123) | |
| Increase in creditors | 1,061 | |
| Cash generated from operations | 3,478,771 |