Future Scope Charltable Trust Audited financial statements for the year ended 3 1 December 2025 Reglstered charity number 1202341
Future Scope Clwitable Trust Contents Page TnLSt summary Trustees. certificats and Tntstees, report Independentexaminer's report Statementof financlal auivities Balance sheet io Notssto the financial Statements 11-17
Future Scope ClwStable Trust Trust summary For the year ended 31 December Z02S Date of settlement 25 August 2022 pttlnr Nnrnian Vincent Parry Trustees Norman Vincent Parry tserved until lanuary 2026) Andrew Morri5 lenknn5 William Thornas Parry le5sica Parry (Appointed 03 March 2026] Main terms This is a charitable settlement for the benefit for orto such haritable objec¢ purpose, InstiOnS orsocieties as the Trustees may In theSr dlscretion think fitwlth no defined benefjckal area. Re8lstered address Wansbroughs LLP Northgate House Devizes Wiltshire SNIO IIX Accountants and audltors Saffery LLP St Catherine's Court Berkeley Place Clifton Bristol BS8 IBQ Sollcltors WaDsbroughs LLP Northgate House Devlzes Wiltshire SNIO IIX Invtstment Managers RBC Brewin Dolphin 12 Srnithfield Street London ECIA9BD
Futsre Scope Charltable Trust Trust summary Forthe ear ended S A ril 2025 Registered charltynumber 1202341 Taxation Not subjertto tax The above summary is intended as an aide-mernoire and reference Should be made to the Trust Deed before making decisffions.
Future Scope Charltable Trust Trustees. report For the ear eDded 31 December 2025 The TrSteeS presenttheir annual report coveringthe Tnjst's activities for the year ended 31 December 2025. History, objectlves and activities of the Trust The Tru5twas established under a Deed dated 25 August 2032. Itis an unintorporated charitable trust The registered nurnber ofthe Charity is 1202341. The fvll name ofthe Charityis Future Scope Charitsble Trus The objects are summarised as being for orto such charitsble objects, purposes, institiOns. or socletles as the Trustees may in their discretion think fitwith no defined benefidal area. The Trustee5 have ivnfirrnvd thai theyhave referred to the guidance in the Charity Contmkssi(xk's general guidance on public benefitwheA revlewing the Trust's aims and objects and in planning fure activities and settiDg the grant mak]"ng policy for the year. Trustobjectives.. to advan the educatiotl of young people by developing their mental, physical and moral capabilities through leisure time activitie5. Managementand governance arrangements The names of the Trustees who have arted during the year are set out on page l. No tThstees have been paid arty remuneratSon or received any other benefits from the tharity Dr a related charity. The TteeS conducttheir Trnst business bymeans of telephone and computer communtcations and Trust meetings are held at least twice a year accordance with the trust dee(L The Trustees are appointed by the Board of Trustee5. New Trustees receive copies of ail relevant Trust documents and of the Charity ComrnI55ion guidance and keep up to date with relevantlaws and regulations. The Trn 15 administered by an 3dmlnSstratorwho is not a Trustee butwho is actill8 on behalfofthe Trustees. Procedures and pollcyfor grant making The objectfives of the Trust are to supportfrom the income ofthe TruK by grants. Charitable InsotiOnS and objectives at the Trustees, discretion. The Settlor wishes proceeds from the Trust to support the provision of education for young people.
Future Scope Charitable Trllst Trustees. report (contlnued) For the earended 31 Detember2025 Athlevements and performance ofthe trust The trustees are satisfied that the tswst has been setup appropriately and will be in a position to sati5fyits charitsble objects going forward. Flnancfial revlew. Investment poli¢y reserves These financial statements for the year ended 31 December 2025 have been prepared in accordance with applscable law and United Kingdom Accounting Standards (Unitsd Kingdom Accepted Accounting Practice) and complywith the Stxtemettt ofRecommended Practice (SORP] Accounting and Reporting by charities FRS102 effective frnm january 2019. The ftnancialststements are prepared under the historic cost convention. The Sncome forthe period was £236,048 [2024.. £4,761,977). being receipts ofinvesttnertt income. ManagemenL administration and other expenses for the period amounted to £78,654(2024.. £50,166]. The charity assesses its success by the number and value ofgrants it has provided to tharirable causes. During the year. the chariry recogni5ed 8r3nts paid of £235.000 (2024.. £13U,UUU ).-I'he balance of grants payable held on the balancE 5heetatyear end wa5 £15.00012024.. £125.000). Under the Deed of the Trust the Trustees are empowered to retain any investments for as long as they in their ab501ute discretion think fitand to sell any of the invesbnents. Investments may be made as authorlsed bylaw as lttvestments for trust mortey notbeing bearer bonds butbonds in, mortgages or securities ofthe UK government orany colony or dependenrythereof. oranypublic, municipal or local authority in the Brltish Isles or any colony or dependency ofthe UK.. or in preference shares or debentures of any Railway. Electric. Gas or Water Compatly carrylng on business in the UK or any colony or dependency or in the Shares of any Company carrying on business In the U The Trustees are also empowered to use the investtnents in the same manner a5 income and there is therefore no fixed endowment fvnd and no restrirted investment& The financia] objective olthe Charity is to at least maintain the real value ofthe assets whilst generating a stable 3nd sustainable rern to fund grant rnakin& The Investments ofthe Trust are managed by Brewin Dolphin, an independentfirm which arts as the Trust's investmentadvisor Every yearthe Tru5t'5 investTnentadwsoT5 will reporr in detall on the performance of the investments ving comparisons with the charitys investrnent objective of CPI + 3% as well as the ARC Steady Growth Index which prowdes a peer group compari50n with the wdercharity rnarket Over the ourse of the year. the gain on investmentwas £739.838 (2024.. £414,259). wth disposal proceeds released to the trustto be used for grants being worth £249.949 (2024.. £133,262).
Future Scope Charlt#ble Trnst Tnzstees. report (continued) For the ear ended 31 December 202S Genernl unrestricted filnds It is the policy of the Trustees to tnaintain the General unrestricted funds, which are the free reserves of th¢ Ch&iriLy. at a level which equates to approximately 6 months, eXpendire on grants and management and administration. Such funds may be held in order to finance both working capital and capital investment in furtherance of the objectives ofthe charity. Atthe end ofthe fsnanclal year, the charity had genera] reserves of£9,627,873 (2024.. £8,96S,641). Investment fund To provide the income The£essary to maintain the TTUSt'5 charitable activities, the Charity requires a significant capital base and the Trustees have maintsined an active investment policy in order to provide a degree of stability and certainty in Intomè lÈvols. kn the circum5tance5 the Trustees have created a designated Investmentfund that represents the libted investtnents held in the Charity's Investhenr portfolio. The assets reflected Tn the balance sheetare available and adequats for the Trustees to fulfil the obligation5 of the Charity. Risk management Having regard to the Trust's organisation and activitses, it is the view of the Trustees that rhe major risks to which the Trust rnay be exposed are largely financial in nature, particularly a slgnificant reduction in income generated by the investsnents. The Trustee5 review the major risks which the Trust faces through the reports from theTt'S investhlentadvisors, andlook to plan free reserves accordingly. Futsre plans TheTrustees plan to colder grantapplications atleastonce a year and make grants to those or8anisations who have similar objects to the Charity. The Grants will be paid from the income earned on the capital of the investments and mightiTJ some years pay from the capits] growth of the investsnents. Golng concern There are no material uneertalnttes aboutthe Charity'5 ability tt) contlrtue as a going concern.
Future Scope Charftable Trnst Trustees. report (contlnued) Forthe ear ended 31 Detember 2025 Statement of trustees. responsibilities TELC TruJteeJ are rcsponslblt forprepariiig the Ti"u)LerJ' RvyuiL the financial 5oiernents in accordance with applicable law and United Kingdom Accounting Standards. The law appllcable to chariues in England and Wales requires the trustees to prepare financial statements for each financial yearwhich give a true and fairview ofthe state of afFairs ofthe Charityand ofthe incomin8 resources and applir2tion of resources ofthe Charity for that period. In preparing these financi21 ststements. the trustees are required to.. select5Uitable accounting polLCtes and then apply them consistenljyj observe the methad_g and principles in the Charrties SORP {FRS 102],. make judgements and estimates thatare reasonable and prudent,- statewhether applicable accounting standards have been followed, subjertto anv matsrial departtLre5 disclosed and explained in the financial statetnents; and prepare the financial statements on the going cancern basis unless it is inappropriate to presume that the Lharitywill continue in operationa] existence. The Trustee5 are responsible forkeeping proper accounting records thatdisclose with reasonable accuracy at any time the financial pn%ition olthe Charity and enable them to ensure that the financial statements cornply wth the Charioes Act 2011, the Charity [Accounts and RepoTtsI Regulations 2008 and the provisions ofthe trust deed. They are also responsible forsafeguarding the assets olthe Charity and hence for tth'ngrelsonable steps for the prevention and detection offraud and other irregularities. Audltors ThE Trt'S auditors, Saffèry LLP, have expressed thetr wil]ingness to ConnU in office, and a TesDlution to reappoint them will be proposed ata meeting ofthe Trustees. Approved on behalf ofthe Trnstees on.. .. .and signed on behalf [the Trustee5 by William Pany Chair of Trustees
Future Scope Charitable Trust Independent examiner's report to the trnstees ofFuture Scope Charitable Trust For the ear ended 31 December 2025 I reportto tILe trustees on my examination ofthe accounts of the Future Scope Charitsble Trust (the T) for the year ended 31 December 2025. Respective Responslblllties of ttee5 and examlner As the charity trnstees of the Tru5tyou are responsible forthe preparation of the accounts in accordance with the requirements of the Charities Art2011 (the Acv). I report in respertof my examination tsfthe Trusvs accounts carried out under section 145 of the 2011 Actand in carrying out my examination I have followed all the applirdble Directions given by the Charity Commission under section 14515)Ib] of the ACL B3515 of Independent examlner's report My examlnadon was carrled ouiln accordance wlth the 8eneTal Dlrectlons Vell by the Charity CommLSSLon. An examination includes a review of the accounts.ng records kept by the charity and a comparison of the accounts preseT]ted with those records. Italso indudes consideration ofany unusual item5 or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The pn)cedures undertaken do not provide 311 the evidence that would be required in all audit and consequently no opinion is given as to whetherthe accounts presenta'true and tairview, and the reportls Ilmlted to those matters set out in the statement below, Independent eyaminerfs statement I have completed my examination. I confirn) that no material matters have corne to myattention in conrtection with the examination giving me cause to believe thatin any TnateTial respect l. accounting record5 were not kept in respect of the Trust as required by 5eLtion 130 of the A¢ or 2. the accounts do not aco)rd with those records.. or 3. the accounts do not comply with the applicable requirements concerningthe form and contsnt of accounts set out in the Charitt'es [Accounts and Reportsj Regulations 2008 otherthan any requirement that the accounts give a'true and fairview which isnot a rnatter considered as part ofan independent examinatio I have no concerns and htve com¢ acr055 no othcr rnattcrs in eonnectionwith the examination to whith attention should be drdwn ITh th55 report sn onler to enable a proper UE]deJstaE]dirtg of the accounts to be reached.
Futhre Scope Charfitsble Trust Independent eX]ner'S reportto the triistees of Future Scope Ch•ritableTrust (cotttlnued) For the ear ended 31 December 2025 Signed.. Name.. Michael Strong FCA CTA Re]evantprofessional qualification or membership of professional bodies (If any).. Member of the InstlNte of Chartered Accountants ID England and Wales St Catherine's Court Berkeley Place Clifton Bristol BS8 IBQ 21 July 2026
Future Sfope Charltable Trust Statement of financial activity For the earended 31 December20Z5 Total 202S Total 2024 Incomt Capfital Income.. Donations 4.761,339 Investment income 236,048 236.048 638 Total incoming resources 236.048 Z36,048 4.761,977 Expenditure: Expenditure on charitsble activities [235.000) (235,000) 1130,000) Other eXpendire.. Management and administration ofthe charity [32,989] 145,665) (78,654) [50.166) Total expenditure [267,989) 145,66SJ (313.6541 (180,166) Net income forthe year before gains and losses on iTJvesttnents (31.941) 145,665) [77,606) 4,581,811 Net gainsl(105se5) on investments 739.838 739,838 414,259 NetincoMe/(expendire) forthe year [31.941) 694,173 662.232 4.996.070 Transfers between fijnds 25,381 125,381) Netmovernent in funds (6,560] 668,792 662.232 4.996.070 Balance5 brought torward at31 December 2024 6,560 8,959,081 8,965.641 3,969,571 Balances carried forward at31 December 2025 9.627,873 9 627 873 8.965.641
Future Scope CharlLible Tryst Balance sheet As at 31 December 2025 Unrestrirted funds Income Unre5trlrted funds Capltal Total 2025 Total 2024 ixed assets Investsnents 9.639.239 9,639,239 8,959,081 9,639,239 9,639,239 8.959,081 Current assets Cash atbank 17,421 17.421 161,688 17,421 17.421 161,688 Current liabilities Creditor5 (17,421) (11.366) (Z8,787) (155,128) Net current assets 11.366 11,366 Total assets le curreut liabilities 9.627 873 9 627 873 B.965 641 FIDanced by: Funds Unrestrirted 9.627,873 9.627.873 9,627,873 9627873 8,965.641 8.965.641 The balance sheeth35 been approved on behalf of the Trustees on aTJd si8ned on behalf of the Trustees by William Parry Chairof Trustee5 io
Future Scope Charitable Trust Notes to the financial statements For the ear ended 31 December 2025 Accounting policie$ 1.1 Reportlng perlod length The finarlcial statETnents cover theyear to 31 December 20Z& The comparat5ve perSod is for the 12 months to 31 December 2024. 12 Basis of preparation The financi31 st3tements have been prepared in accordance with the Statsment of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordantr with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) applicable fvom I lanuary 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland [FRS IOZI and the Charities Art ZOII and UK Generally Accepted Practice as it appljes from I january 2019. The financial statements are prepared in sterlin& which is the fvnctional currency of the Charity. Monetsry amounts have been rounded to the nearert £1. The Charity constitutes a public benefit etjtlty as defined under FRS IOL The financial statements have been prepared under the historic cost convention. wÉth the exception of inveslJE]ents whith are itlcluded at fair value (their market value). la income Income is recognised when the charity has entit]ement to the funds. any peTfortnance conditions attached to the itemlsl of income have been meL it is probable that the incolne will be received and the amount can be measured relsably. It is shown net ofany tax deduction. Donations, grants 8nd gifts are recogniscd when rcteivable. Donated profess?onal seryices 2nd f2Clllttog are included in income at the estimated value of the gift to the charity when received, based on the amount that the charity would have been prepared to pay for these service5 or facillttes had It been required to purchase them, with a rorresponding entry the appropriate expenditure heading for the same amoun ExpeDditure and Irrecoverable VAT Experjdifure is recognised once there is a legal or constructive obligation to make a pajinentto a third party, it is probable thatsettlement will be required and the amount of the obligation can be tneasured reliably. All eXpendire is accounted for on an accru3]s basis. Irrecoverable VAT is char8ed againstthe category of resources expended for which itwas incurred. li
Future scope Charltable Trust Notes to the financial ststements For the year ended 31 December ZOZ5 Accountingpolicies (fontinued) IS Listed investments It]vesttnents in quoted 5harE5, traded bond5 and 51mllar Investments are measured InIallY at cost and subsequently at fair value (their market value). The statement of financial arttvitles includes the netgains and losses arisingon revaluations and disposals throughoutthe year. 1,6 Taxatlon The Trust 15 a reg15tered Charftyand15 no( Ilable to Unlted Kjngdom Income rax or corporaDo tsx on charitsble activities. 1.7 Finanaal instruments The Charity has applied the provision5 ofsection 11 'Basic Financial InstrMents, 2nd Section 12 'Other finantS81 Instruments Issues, of FRS 102 to ail of tts financtal ijjstrunients. Otlier than where specificallystated all ofthe Charis financial instruments are classed as basic flnancial Financial assets are recognised in the ChariW5 Statement of financial positionwhen the Charity become5 party to the contractual provisions of the instrumenL Financial a55ets are cla55ified into speafied cateEories. The cl2ssific3tion depends on the I]are and purpose ot the financial assets and is determined atthe time of reeognition. BasicfinancEolas5ets Basic fJnat]cial assets, which include trade and other debtors and cash and bank balaTtces, are Initi2lly mpA.¢iJrpd attrxn£artion priro incliiding trans3rtion costs #nd are gubgpquently carried atamortised costusingthe effective interest method unless the arrangement constitute5 a financing transaction, where the transaction is measured at the presentvalue of the futyre receipts discounted ata marketrate ofinteresL Other financial &55ets Elassified fair value through the statement of financi activitie5 are measured at fair value. Bu5icfinonciol liubilldes Basic financial liabilities are initially recognised attransaction price. wiless the arrangement constitutes a financing transaction, where the debt instrutnent is measured atthe present value of the future receipts discounted ata market rate of interesL Other financial liabilities classified as frdir value throuRh the ststelnent of financial activitie5 are measured at fair valu& 1.8 Fund accounting Unrestricted funds are those which are available for use at the discretion ofthe Trustees in fvrtherance ofthe general objerts ofthe charitsble 5ettlementand which have notbeen designated forspecific objects. 12
Future Scope CharAtable Tn Notes to the flnanLial statements (continued) Forthe yearended 31 Dernber 2025 Accounting pollcie5 (continued) 1.9 Golng concern basls of accounting The lin3nclal sraTrments have been prepared on the assumption thatthe Ch2rityi$ able to continue as a going Concern. which the Trnstees consider appropriate having regard to the current level of unrestrirted reserves. There are no material uncert2inties aboutthe Charity s ability to continue as a going concern. The Trustees acknowledge the ecDlloTnic uncertainty due to factors such as ongoing international instability and conflic¢ and wlll continue to monitorits impact upon the Charity's investment& Income 2025 ZO34 Income from donations 4.761339 4 761,339 CbaTitable activitles Incorne CxpltAI 2025 2024 Grants payable 235 000 235.000 235,000 235.000 130.000 130 000 All grants payable were paid to institutions. In accordance with the provisions ofFRS 102 and the Charities SORP (FRS 102]. the charity has taken the available exemption from detsiled grant disc105ures. As permitted, Indidual grantincome has not been separately disclosed where such disc105ure is not considered material to the understanding ofthe financial stratements. Othcr cxpcnditurc Income Catal 2025 2024 Audltand accountancy fees l£gal and professional fee5 Bank charges Investment Tnar13gernent costs 5,52D 27,353 116 S.520 Z7,353 116 15,580 13,080 90 45,665 50.166 13
Future Scope Charitable Trust Notts to the flnancial statements (continued) Fortbeyearended 31 December ZOZS Employees The charity had no eTnployees during the reporting period. Accordingly, no staff costs, induding wages, salartes. pensions, or other employment-related expenses. have been incurred. InvestDJents Income Capltal 2025 2024 At I january 2025 Addition5 8,959,081 335,934 [45.665) (249.949) 739 838 9,639.239 8,9S9,OBI 235.934 145,665) (249,949) 739 838 9639239 8.699,500 [21,416) (133,262) 414.259 8.959.081 Inve5tmentmanagemertt costs Disposal proceeds Revaluation At 31 Dember 2025 7 Creditors IncDJlle Capital 2025 2024 Trade creditor5 Actruals Grants payable 2.421 5.846 5.5ZO 8,267 5,520 15,000 16.448 13.680 12S 000 155 128 15,000 17,421 11.366 14
Future Scope Charttable Trust Notes to the financial statements (contlnued) Forthe year ended 31 December 2025 ststement of movement on unre5trirted funds Atl January 2025 At31 Galns/ (1055es) December Income Expenditure Transfers Z025 Income fund Capitsl fund 6,560 8.959,081 236,048 (267,989) [45,665) 25,381 [25.381} 9,627,873 739.838 Total unrestricted uds 8 965 641 313654 739 838 9.627 873 Atl lanuary 2024 At31 December 2024 Gains/ Oosses) Income Expendlture TraDsfer5 Income fijnd Capitsl fvnd 3,969,S71 4,761,977 (158.750) {21.416) [8.566.238) 8,566,238 6.560 8.959,081 414,259 Total unrestrlcted nds 3 969 571 4 761977 180 166 414.259 TTUStc¢ rcmuneratlon No Trustees have been paid anyremuneration or received anyother benefits from the charity or a related charity. No Trustee expenses were Incurred ib the currentyear, or in the priorperiod. 10 Events after the reportlng date The Trustees are not aware ofany postbalance sheetevents at date of slgnin& 15
Futsre Scope CharRtable Tnt Notesto the financlal statements (contlnued) For the ear ended 31 December 202S 11 Related partles During theyear Norman Parry (Trstee) tnade donations of £nil [2024.. £4,761.339) to the tharity. During the year expenses amounting to £27,353 (2024.. E13.080) were recoBnised relating to Wansbroughs LLP 501icitors fees. £8,267 [2024: £5,048) was outstanding as a creditor balance as at 31 Decelnber 2025. Wansbroughs LLP is an entity related to the chanty byvithe of a Trustee of the charityhaving Significant influence over the LLP. Wansbroughs LLP fees are billed on an arm's length basis. apart from time relating to the work DfAndrew Jenkins (Trustee) whith 15 billed by Wansbroughs at up to half of his standard hourly rate. 12 Controlllng party Throughout the current and previou5 period, the Charity was not under the control of any single Individual or entity- 16
Futsre Scope Charltable Trust Notesto the flnanclal statements (contlnued) For the ear ended 31 De£ember 2025 11 fomparatlves for the ststement of finaniiJl aclivitles Total 2024 Totsl 2023 Income Capltal Note Income.. Donations 4,761,339 4.761,339 4,761,339 Investmentincome 638 638 Total IncoTning resoUrS 4,761,977 4.761,977 4,761.339 Fxpend1re'. Expendire on dritable activitt'es (130,OOOJ [130,000} Other expenditure.. Management and administration ofthe charity (28,750) (21.416) (SO,166J (50,166) Total expendlrure (158.750) [21,4161 1180,166) 150,166) Netincome for theyear before gains and losses on investments 4,603,227 (21.416) 4,581,811 4,711.173 Net gains/(losses) on inve5ttnents 414,259 414,259 Net income/(expenditure) for the 4,603,227 392,843 4,996.070 4,711,173 Transfers between Fund5 (8,566,238) 8.566.238 Net movement in funds (3,963,011) 8,959,081 4,996,070 4,711.173 Balances brought forward at 31 December 2023 3.969,571 3.969.571 Ba]ance5 carried forward at 31 December 2024 8 959.081 8 96S 641 4711173 Forthe 2023 comparative period, all fund5 were illLUmE (unds, wlth none being capital. 17