CAMBIDGE FOUNDATION CIO Charity registr•tion number 1203819 IEn9land and Walèal ANNUAL REPORT AND UNAUDifED FINANCIAL STATElENTs FOR THE YEAR ENDED 31 MARCH 2025
CAMBIDGE FOUNDATION CIO LEGAL AND ADMINISTRATIVE INFORMATION Trus¢ees Mi R B carnb9e Mis L K Cambidge Mw E H Lewis Mws J Macpherson Charity number (England and Wal} 1203819 Principal addres Argoed Fami Kinnerley Oswesiry Shropsh¥e SY10 8DH Accountsnts Dyke Yaxky Limrted 1 Brassey Road Olj Potts Way Shrewsbury Shropshire SY3 7FA
CAMBIDGE FOUNDATION CIO CONTENTS Page Trustees report ArKountanls' report Slaternent of finanejal adivrti•s Balan¢e sheet Slalernenl ol cash lknis Notes lo the financaal slaiements 7-12
CAMBIDGE FOUNDATION CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Iiuslees piesent their annual report and finaral stements fof the year ended 31 March 2025. The financial slalemenls have been prepared in 8rdance with the accounkng poliLyes sel out in note 1 to the financial $latement$ and comply wrth the thantws goverr.lng dorAJment. the Chanties Act 2011 and "Accounting and Reporling by Charities. Slalemenl of Recommended Praclice applicable lo charities prepanng their accounts In aecardan¢e with the Financial Reporting Standanl applir3ble In Ihe UK and RepurC of Ireland IFRS 1021" leffeGlive 1 January 20191. Obie6tiv•s and a¢tiviti•s The objects of the charity art to.. advance the e(Sucalion ol thtr publiG in Ihe subjeci ol agricutture in particular. but 1 limited to. person5 under the age of 25 years". advance o. piomole research into agricufture and Thè publicion ol the uselul resutts or such resear¢h in particular. but nol limited to. 5UStainable lood produdion al Ihe conSeall0 and enhancetnenl ol the rural enwronmenl. relieve poverty and improve the health and wellb?ing of peopl8 living and workn'ng in iuial communities in particular, bul ng1 limiled to, those working In agriculture in Shropshirè and 84"oining counties by providing grants Io Tegislered charrties and not lor profil organi5a1?S. Public benefit The Iruslees have paid due regard to 9um1ar isSd by the Charity Cornmission in deciding whai adivities thè harlly should undertaKe Achievement8 and perfonnanc• Significanl acliwrtffjs and achiovemonls against Object$ During the year, the charty made 5 donations 12024 0 donabensl lo chaThtat4e Inslltullons 101aling £9,000 12024,. £nill. These dcnaliors aio aligned Mlh Ihe Gharrtable obJectNe$ oltho charity. Flnanclal revlew Re59rves policy 11 is tho policy of the ch211ty that unre51ricted funds whKh lidve nol been designated for a specific use Should bo maintained al a level equivalent to beeeTr three and sim rnonth's expendrture. Ihc trusttes con51dEr thai rcservtss al Ihis level will ensure Ihal. In the evenl of 8 si9nifiranl drop in funding. they will be able to continue the charity's currgnl aaivilies Whi consideration is gtven lo ways In whh 0¢drtn¥I funds be rw¥ed. Thi5 level of re5em5 has been maintained Ihroughoul the year. Structure, goveman¢e and manag•ment The Charily is regislered in England & Wale5 Wlth th8 Charity Commission in Engnd & Wales ICCEW) th chanty number 1203819. The charity is consliluted a¥ a Charilabl? Incryporaled Organi110n ICIOI in England & Walès with company number CE032848 The trustees who servet1 olurin9 the year and up lo the date of $ignature of the fin8Thcial siatemenis were,. Mr R B Carnbidge Mrs E K CaTnbidgE Mr E H Lew15 M15 J Macpherson
CAMBIDGE FOUNDATION CIO TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recnjitment and appojntfflenl oltruslees Apart trom the first charity Iruslees. every Iru5tee rnu51 be appoinled for a leTm of Ihiee years by a resolLrtion passed al a properfy convened meeting of the chanty trustees. In sele¢tino individua15 for appointmeni as chaiity IFusiee5. the charity tnjstees must have rÈgard to the skills, knoWdg and expertise needed f(* Ihe ettedive administration of the CIO. The charity Irusiee5 will make available lo each new charity Irusle¢ on or bofore their first appoinlrnent. a copy of Ihe rrent version ol Ihe conslitulion a copy ollhe CIO'S latest Trustee's Annual Rewrt and statement of accounts Orpantsa&'onal slruelii The charity tru51ee5 may delegale any of their powers or functions lo a committee or committees. and, 11 they do. they shall determine the terms and conditi5 on which the dole931ion Is rnade. Chanty Iruslee5 rnay at any time arter those terrns And condrtion$. or revoke the delegation. Dunng the year, no delegation took place. The Iiuslèes report w¥$ apprgvèd by the Board of Tmslee$. Mr R 8 Cambid9e Tru8t Dale. 24111r2025
CAMBIDGE FOUNDATION CIO CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CAMBIDGE FOUNDATION CIO FOR THE YEAR ENDED 31 MARCH 2025 In order lo assist you to fulfil your dutias undei the Chanties Act 2011. we have prepared for YOUF approval the financial slalemenls of CambKJ9e Foundation CIO for Ihe year ended 31 Mafrh 2025, sei oul tsTh pages 4 10 12 from the charity's accounting iecords and Ifom informalion and explanatn5 VLYJ have given us. As a pracli$ing member fwm of the Inslttute of Chartered Aruuntants in England and Wales. we are subject lo 11$ ethical and olher prOfesSn81 reqireMentS whkth are detaed at hIlpsJfvA.lcaew.cornlregula(10n. Thi5 report Is made lo the charity'5 tfU51ee5. as a body. in accordance wrfh the lem)$ of our en9agemenl letter dated 16 October 2024. Our work has been undertakep solely lo prepare your approval the financial staiemenls ol Cambidge Foundation CIO and state those matters that wt have aged 10 slate 10 the chantys trustees, 89 a body. in this report In accDrdance with ICAEW Tethnical Release 0711G AAF. To the luUe51 exienl perrnilled by law. we do nol aGcept or assume responsibility to anyone other than Cambidge Foundation CIO and Ihè ch3ritYs trustees as bDdy, for our work oi lor this report. 11 Is your duly lo ensure that Cambid9e Foundalion CIO has rfept adequate accounting recoids and 10 prepare slalulory financial statements that give a twe and fair view of Ihe 8$5ets. liabilities. financial posrtion and defieit of Cambidge Foundation CIO. You consider thal Can*)idge Fgundalion CIO is exernpl from the ststulory audit quirement lor the year. and Is not requiied to oblain an Independenl examinerfs report. Wé havè not bten Instructed to Carry obt an autht o". a VIeW of the finanual slaiemenls ot Cambidge Foundation CIO. For this rea50n. we have nol verif18d the acGwaGy or cL)mpleièness of Ihe account ng records or Informalion and explanalions you have givèn to us and wo do not. Iherelofe. express any opinn on the statutory finanaal slalern8nls. qofy Dyke Yaxlcy Lirnltcd Chartered Accounlanis 1 Bra5soy Road Old Potts Way Shrewsbury Shropsblre SY3 7FA Date i .DeLthbgf lolf
CAMBIDGE FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Unrn$tri¢ted funds 2024 Notes In¢ome from.. Donaiions and lègaues Inveslments 950,802 10,109 17.417 Total income 17.417 960,911 Expenditure on- Raising fur,ds Charilable actiwties 8.705 10.382 21 1,200 Totsl exp•ndltuM 19.087 1.221 Net gainslllosscsl on Inveslrnents 158.9581 38,888 Not In¢omellexpenditurg1 and movem•nl In funds 160.6281 998,578 R0con¢Sll•tlon of fund8'. Fund balance5 al 1 April 2024 998.578 Fund balances at 31 Marth 2025 937.950 998,578 The slalement of finan=ial adiwlies indudes all gains and bsses cogr¥Sed in Ihe year. All Income and e¥pendilure derive from conlir,uing aclivilies.
CAMBIDGE FOUNDATION CIO BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Investments 12 894,507 946,083 Currertt a$$ets Cash 31 bank and in hand 44.643 53.695 Creditors: amounts falling due within one year 13 11.2001 11.2001 Net ¢urrtnt a#8ets 43.443 52.495 Tot•1 a¥¥•ts l•¥¥ eurr•nt Ilabllltlo¥ 937.950 998.578 Th• funds of th• ¢havlty Unre51ricted funds 14 937.950 998.578 937.950 998.578 The financial statements were approved by Ihe trustees on .w).'............. A/ hAr R B Cambidge Trust••
CAMBIDGE FOUNDATION CIO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Not•s Cash flows from operating activities Cash lab50rbeO byllgenerated froTn operations 16 119 0871 950,781 Investing activiti08 Purchase of Inveslmenis Proceeds from disposal of iThve3tment$ Inveslrnent In¢orne received 179.3791 71.997 17.417 1873,3121 133,8831 10.109 N¢t ¢a$h geD¢rat•d Iromllu$¢d Sn) Inv¢$lSng actlvltlès 10.035 1897,0861 Ntt ¢•sh gtnerattd Irom fin•n¢lN9 •¢t[vI•S Not Id•cr885•llincr•as• in elsh and ¢•sh equlvalents 19.0521 53.695 Ca$h and rsh equivalents al bè9inoing of yèar 53.695 C••h Jnd ¢•$h ¢qulv•l•nts al •nd of ar 44.643 53.695
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting poli¢ie• Charity information Cambidgè frourndalion CIO Is a tharrtable IrA)rporated organisation. registered In England and Wale5. 1.1 Reportlng pèriod The charity wa5 reglstered with the Charitie5 Commi$sion on 3 July 2023 with registration numbei 1203819 and as a charrtable Incorporaied orgaiisalton with company number CE032848. As a resutt, Ihe comparative 2024 financial slaien)enl covered a 9 rn¢xth penod frorn 3 July 2023 10 31 Marth 2024. 1.2 A¢¢ountln9 ¢onvention Th8 financial 5tatemenlS have been prepa1 in •crd8nr wrth chaws govoming document, the Charities Act 2011. FRS 102 -The Financial Reporting Stsndwd applicable in the UK afjd Republic of Ireland" I-FRS 102.1 and the Charities SORP -A¢¢ouriin9 and Reportin9 by Charities". Slaiement of Recommended Practice app11&4ble lo chaiiiies preparing their accoLnis in accordance w+h thè Finanal Reoorting Slan4ard applicable in th UK and Republi¢ of Ireland IFRS 1021- (effèctive 1 January 20191. The charily 1$ a Publlc Benefit Entiiy 35 defined by FRS 102. The financAal stalemenls ale prepared in sterfing. whth 1$ the fvnclional wrrency ol the Charity. Monètary amounts In these finanual slalements we rounded to Ihe nearest £. The financial slalemenls have tyeen prepared under the historicèl cosl convenTh'on. modified lo include tha iévaluaiion of Ire•hold propertie$ and lo include inveslrnenl propertie$ and c*rtain financial instruments al lair value. The pnncipal a¢counling policies adopleo are set oui below. 1.3 Golng ¢on¢•rn Al the Iiriie ol approviny Ihe finaiicial 51aletnenls. Iho Irusiees have a feasonable expectation Ihal the Charity has adequate resources to eontinue in operaiional existence for the foreseeable fulure. Thus the tsustees conlinue 10 adopt the going concèrn basis of a¢counting in prep8fin9 Ihe ffinancial slatements. 1A Ch•rltsble ndS Unre51riued lund5 are available vse al Ihe disuetion ol the Injslees in furtherance ol their charitable objec'.ives. 1.5 Income IncoFne Is recognised wher) the chanty is legally entillea lo rf after any pg.rforniance CDndflions have been mel. the amounts can be mpasured rellay. and il Is wobabte that income will be received. Cash clonalions ale recogn15ed on receipl. Other donalw)n5 are fecognised once the chaiily ha5 been nolified of the donation. tsnless perform8Thce conditions require ¢eleal ol the amovnl. Incorne lax iecoveiable in relation lo donations received under Grft Aid or deeds of covenant 15 recogrmsed al the litne of Ihe donation. 1.6 Expenditur• Fxpenditiirp Is reGO9n15ed oncp. there 15 a Ip9al or con5tructNE gbligation lo Iran5fÈr economic benefit to a thi,.d party, it 15 probable th31 a liansfer of e¢OnOm benefits will be required In selllement, amounl of the obligalion can be measured reliatty. Expenditure is classified by athwty. The c05t5 of each adiwty are ma¢Je up of the total of direcl ¢osls and shared costs. inclJding supporf cost5 invoW in undeflaking each aaivrty. Direct costs attributable to a single aeliwly are allocated directly to Ihal actmty. Sha'ed cost5 whicl conlribuie to rnore than one aclivity and support costs whic4 are nol attnbutable lo a sinale activity ère apportioned between ihose activities on a basis consislcnt wilh the use of resources Central staff cost5 are 311ocaled on the basis of btne spernt, and depreciation charges are allcL3led on the poOn of the as5els use.
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policie5 (Continued) 1.7 Flx•d a$¥ot Inv•$tments Fixed asset investmen15 are Initially measured ai iransadion pne£ excluding tranctIOn costs. and are subsequently measured al lair value al each reporling dale. Changes in lair value are recognised in net Incomellexpen(Jilurel for the year. Transadion costs afe expensefl as Incurred. 1.8 cash and ¢a¥h equivalents Cash and cash equivalenls indude cash In hand. oeposits held al call th banks. other snort-tetm liquid inveslmeThts with orKJinal maiurrtie$ of three months or 55. and b3nk overdrafr.s. Bwk overdrafts are shown within borrowings In current Iiabilrties. 1.9 Employ•• benefits The cost of any unused holiday enlillement Is recognistd In Ihe peneAI In whbth the employees $er¥ic•s aré re¢eiv?d. Teiminalion benefits are r•cogn's8d fjmmetjtety as an expense whèn thè chariiy Is demonstrably committed lo terminate Ihe employment ol an empltyee or to provN1e lerrnina'Qn benèrrts. 1.10 D•btorn and Credltors r•¢elvable I payable within on• yr Debtor5 and creditors with no staled inlerest rate and receivab tsr payab wilhu) one year are recorded al transaction price. Any 1055es ansing from Impairmenl are recognised in expenditure. In6om? Irom donat5on8 and 18g•Ci•$ Unrn8trl¢t•d Unrestrictèd funds fund8 2025 2024 Donations and gths 950,802 Ineom• fmm Invostmgnts Unrestrfcted Unrestricted funds funds 2025 2024 Ircome from listed Investmenis Other income 13.655 3.762 6.393 3.716 17.417 10.109
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on raising Yunds UtrIcted Unrestricted lund$ funds 2025 2024 In¥e51rnenl mana9een1 8.705 21 Exp•nditurn on charltabl• a¢ti¥iti•s Agriculturo 2025 A9riculture 2024 Dlre¢t costs Grant fundirg of aclivilies Isee note 61 Shar¢ of support and gov*rnancg ¢0$ts nole 71 Support Governanc• 1,382 800 400 10,382 1.200 Anatysls by fund Unreslricled funds 10,382 1,200 Grants payabl• Agricul10 202S Grants lo In51itutlOn515 granlsl Cjame & Wildlrfe Conservation Trusl Midlands AirAmbularKe Chanty Royal Agricultural Benevolenl Insiitthion Farrning Cornmunity NeOrk Shfopshire Rural Support 5,000 1,000 1.000 1,000
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activrtles 2025 2024 Bank eharges Compuier and website A¢counlancy Govemance costs 178 1.200 1.2(X) 1.382 1,2 Analy$¢d boh¥gen.' AgricL,Ilure 1.382 1,200 Trustees None ol the trustees loi arby peisons cgjnneclad wilh Iheml received any remungralion or benefrts from the harity during ihe year. Employees Thé average monthty Thjmbtr of empbyees dunng the year wa5. 2025 Numbor 2024 Numbei Total There were no employees whose annual remunèration was more than £60.CWJ. 10 Gain• and10ss•• on inve$lments Unrestfi¢t•d Unr•stritted fundi funds 2025 2024 Gainslllosse%l Ansin9 On". Revaluatiorn of iDvesimen15 Sale ol Inveslrnenls 160.5761 38,888 158.95BI 28,888 11 Taxatlon The charity is exempt ft(An taxa110n on rts acliwties because all ds income is applied foi charitable purposes. 10-
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Fixtd asset investmènts Listed Investments Cash in portfolio Total Cost or valu•tlo Al l April 2024 Aédilions Valuation char9es Disp¢sals 912,200 79.379 160.5761 157.3901 33.883 75.095 946.083 154.474 160.5761 1145.4741 188,0841 Al 31 March 2025 873.613 20,894 894,S07 Carrying èmounl Al 31 March 2C25 873.613 2D,894 894,507 At 31 March 2024 912.200 33,883 946,083 13 Crodllor3'. amounts folling due within ono y•ar 202S 2024 Accruals 8nd deferred income 1.2(K) 1.200 14 Unr¢stiict•d lund$ The unrestricted funds ol..he charrty comprise Ihe unexpende¢ balances of donaiion$ and 9ranl$ which are not su*6cl lo Specific condrtions by donors and g'anlors as lo how Ihey may be used. These Include designated funds which have been se.. asNJe oul ol unresIled fvThJs by the trustees for specifiG PLJfposes. At 1 Aprll 2024 Incoming R•$our¢ OU •xpend•d Gains and At 31 March lo$s•$ 30Z5 General funds 998.578 17.417 19.087) 158.9581 937,950 Previous period: At 1 April 2023 Incoming resources R88ources expended Gains and At 31 March losses 2024 General funds 960.911 11,2211 38.888 998,578 15 Related party tran¥a¢tions There were no related party tiansaclN)ns during the year. 12024". 1 he charity Tecewl donalion5 of £950.802 by RH Carnbidge ISlor8gei Lirnited. a business in which Irustees, Elabeth Cambidge and Reginald Cambmlge are also direclors.I 11
CAMBIDGE FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 16 Ca$h lab$orbed byllgenerated from operaiion5 2025 2024 IOefi¢itllsurplus for Ihe year 160.628} 998,578 Adlu?tmonts lor.. Investment income recognised in statemènt of final actNities Gain on disposal ol invèslmenls Fair value gains and losses on Investment5 117.4171 110.1091 60,576 138.8881 Movemonts tn worklng ¢aplt•l'. IDocreaselAnuoaso In creijilors 1,200 Cash labsorb•d byllg•n•rated from operatyonj 119,0871 950,781 17 An•lysls of ¢han9e8 In net fvnds The charity had no material dgbt duw*)g the year. 12-