The Rayners Penn Foundation
Annual Report and Financial Statements
Year Ended 31 July 2025 Company number: 14999261 Charity Number: 1206060
The Rayners Penn Foundation (a company limited by guarantee)
Contents
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| Contents | Pages |
|---|---|
| Trustees’ Report | 1 - 5 |
| Independent Auditor’s Report | 6- 8 |
| Statement of Financial Activities | 9 |
| Balance sheet | 10 |
| Cash flow statement | 11 |
| Notes to the financial statements | 12 - 16 |
(a company limited by guarantee)
The Rayners Penn Foundation
Trustees’ Report for the Year Ended 31 July 2025
_ _________________
The Trustees being also Directors of the charitable company, present their Trustees’ report together with the financial statements for The Rayners Penn Foundation for the year ending 31 July 2025. The report complies with the Charities Act 2011, and the Directors’ report as required by section 415A of the Companies Act 2006. The financial statements comply with the requirements of the Companies Act 2006, the charitable company’s Articles of Association and the Charities Statement of Recommended Practice (SORP FRS 102 effective 1 January 2019).
Reference and administrative details of the charity, its Trustees and advisers
| Registered name | The Rayners Penn Foundation | |
|---|---|---|
| Trustees | CA Hall (Chair) | |
| SL Kelly | ||
| PDJ Kelly | ||
| GR Donk | ||
| SR Holtzkampf | ||
| W Kelly (appointed 24thSeptember | 2025) | |
| Registered Charity Number: |
1206060 | |
| Registered Company Number: |
14999261 | |
| Registered Office | Rayners Estate | |
| Church Road | ||
| Penn | ||
| Buckinghamshire | ||
| HP10 8LZ | ||
| Auditors | FLB Audit LLP | |
| 1010 Eskdale Rd | ||
| Winnersh Triangle | ||
| Wokingham | ||
| RG41 5TS | ||
| Legal Advisers | Field Fisher | |
| Riverbank House | ||
| 2 Swan Lane | ||
| London | ||
| EC4R 3TT | ||
| Bankers | Barclays Bank PLC | |
| Churchill Place | ||
| Canary Wharf | ||
| London | ||
| E14 5HP |
1
The Rayners Penn Foundation
(a company limited by guarantee)
Trustees’ Report for the Year Ended 31 July 2025 (continued)
_ _________________
Structure, governance and management
The Rayners Foundation was incorporated on 12 July 2023 and changed its name to The Rayners Penn Foundation on 14 November 2023. The charity is a charitable company limited by guarantee, (company registration number 14999261) and registered with the Charity Commissioners as a charity on the same date (charity registration number 1206060).
The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards and the Statement of Recommended Practice Accounting and Reporting by Charities SORP FRS102 and the Companies Act 2006 and the Charities Act 2011.
The Trustees are responsible for decisions relating to the strategic direction of the charity. The Trustees meet around four times a year to monitor the progress of the charity, to liaise on material matters with one another and approve the grants to be made in the year. William Kelly was appointed as a Trustee on 24[th] September 2025, there have been no other changes to the trustees since the year end. When necessary, appointment to the board of Trustees is made by the existing members of the Trustees.
The charity is continuing to formalise the policies and procedures for the induction and training of Trustees, whilst remaining aware of their responsibilities.
Risk management statement
The Trustees have examined the major strategic and operational risks which the charity faces and confirm that systems have been established to enable these risks to be managed to an acceptable level.
Objectives and activities
The charity’s objects are to advance such general charitable purposes according to the laws of England and Wales for the benefit of the public as the trustees see fit to select from time to time.
Mission Statement
The Rayners Penn Foundation is committed to uplifting children and the homeless across the United Kingdom.
“Our mission is to provide essential support and resources that empower these vulnerable groups to build a brighter future. We are equally passionate about protecting the environment and promoting global peace, recognising that a healthy planet and harmonious communities are vital for the well-being of all. Through our initiatives, we aim to foster resilience, compassion, and sustainability, ensuring that every child has the opportunity to thrive and every individual has a chance to live with dignity and hope”.
The Trustees distribute the charity incoming resources to provide support by the payment of grants to charities which support children, education or communities based within the United Kingdom.
The Trustees formally agree which organisations grant payments should be made to, all of which will have been reviewed by the Trustees beforehand to ensure they the align to the charity strategy. As part of the review process the Trustees assess the grant recipients ability to deliver an outcome which successfully meets the criteria of the charity’s mission.
The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing their aims and objectives and in planning future activities.
.
2
The Rayners Penn Foundation
(a company limited by guarantee)
Trustees’ report for the Year Ended 31 July 2025 (continued)
_ _________________
Achievements and performance
During the year the charity received donations totalling £6,524,999 (Period Ending 2024: £5,000,000) increasing their reserves and allowing them to continue fulfilling their objective of providing funding to charitable organisations aligned to their mission statement.
The Trustees researched organisations which were consistent with their objectives and met with their representatives in advance of making any grants. The Trustees endeavored to achieve reaching those organisations that benefited and supported both communities and children.
This year the Trustees collectively approved the 8 (2024: 2) grants to be made totalling £2,197,000 (Period ending 2024: £3,650,000).
In the current year the Foundation were able to provide significant support by committing to provide a grant of £2m to a UK charity, Onside. The charity objectives of ‘believing all young people should have the opportunity to discover their passion and purpsose’ align with those of the Foundation as, the charity supports wellbeing, aspirations and life chances of young people. £500,000 was paid to the charity during the year, with the remaining funding to be paid over the next 3 years. This commitment displays the continued aspiration of the Trustees and the Foundation to support vulnerable groups in the future.
See note 6 for further analysis of grants made during the year.
Financial review and reserves policy
During the year the charity received total income of £6,626,178 (Period Ending July 2024: £5,101,334), comprising donation income of £6,524,999 (Period Ending July 2024: £5,000,000) and investment income of £101,179 (Period Ending July 2024: £101,334).
Resources expended for the year totaled £2,216,680 (Period Ending July 2024: £3,670,292), which included grants payable of £2,197,000 (Period Ending July 2024: £3,650,000) that were distributed to organisations in line with the charitable objectives.
The reserves at the year end were £5,840,540 (Period Ending July 2024: £1,431,042), all of which were unrestricted.
The policy of the charity is to maintain reserves that comfortably cover future committed costs. The Trustees periodically review the level of reserves to ensure they remain appropriate for the charity needs, adjusting as necessary to reflect any changes in the financial situation or commitments.
Plans for future periods
In the future, the charity plans to continue to identify new organisations that align with their objectives and provide support to them. The charity is committed to seeking out organisations that inspire and demonstrate a clear commitment to the mission. The focus will be on those that show innovation and effectiveness in addressing social issues, particularly within the realms of children's welfare, educational advancement, and community development.
Going Concern
The charity has limited overheads and only distributes grants with the reserves they have available. The charity considers they have sufficient cash reserves to meet their future obligations and grant commitments. The Trustees consider that it is appropriate for the financial statements to be prepared on a going concern basis.
3
The Rayners Penn Foundation
(a company limited by guarantee)
Trustees’ report for the Year Ended 31 July 2025 (continued)
_ _________________
Fundraising policy
Section 162a of the Charities Act 2011 requires the Trustees to make a statement regarding fundraising activities. The charity does not undertake any fundraising activities. The charity does not use professional fundraisers or “commercial participators” or indeed any third parties to solicit donations. The charity are therefore not subject to any regulatory scheme or relevant codes of practice, nor have they received any complaints in relation to fundraising activities nor do they consider it necessary to design specific procedures to monitor such activities.
Trustees’ responsibilities in relation to the financial statements
The Trustees (who are also the Directors of the charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
4
(a company limited by guarantee)
The Rayners Penn Foundation
Trustees’ report for the Year Ended 31 July 2025 (continued)
_ _________________
Disclosure of information to auditor
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
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so far as the trustee is aware, there is no relevant audit information of which the charity’s auditor is unaware; and
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the Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity’s auditor is aware of that information.
All the current Trustees have taken all the steps that they ought to have taken to make themselves aware of any information needed by the company's auditor for the purpose of their audit and to establish that the auditors are aware of that information. The Trustees are not aware of any relevant information of which the auditors are not aware.
Auditor
The resolution to re-appoint FLB Audit LLP as auditor will be proposed at the next Annual General Meeting.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
24.4.2026
Approved and signed on behalf of the Trustees on………………………….
CA Hall
Trustee
5
The Rayners Penn Foundation
(a company limited by guarantee)
Independent Auditors’ Report to the Trustees of The Rayners Penn Foundation for the Year Ended 31 July 2025
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Opinion
We have audited the financial statements of the Rayners Penn Foundation (the ‘charitable company’) for the period ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company’s affairs as at 31 July 2025, and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
6
(a company limited by guarantee)
The Rayners Penn Foundation
Independent Auditors’ Report to the Trustees of The Rayners Penn Foundation (continued) for the Year Ended 31 July 2025
_ _________________
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement (set out on page 4), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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obtaining an understanding of the entity’s risk assessment process, including the risk of fraud;
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testing significant transactions, in particular the evaluation of the rationale for any which appear unusual or outside the charity’s normal activities;
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evaluating the assumptions and judgements used by management within significant accounting estimates and assessing if these indicate evidence of management bias;
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evaluating the consistency of selected amounts or other items presented in the other information with the financial statements;
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requesting a reconciliation of amounts within the other information and the financial statements from management, comparing items in the reconciliation to the financial statements and the other information and checking the mathematically accuracy of the reconciliation;
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communicating relevant matters to all members of the audit team to ensure they understood the risks specific to the Rayners Penn Foundation and the audit procedures planned to mitigate these.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
7
(a company limited by guarantee)
The Rayners Penn Foundation
Independent Auditors’ Report to the Trustees of The Rayners Penn Foundation (continued) for the Year Ended 31 July 2025
_ _________________
Auditor responsibilities for the audit of the financial statements (continued)
A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
FLB Audit LLP Chartered Accountants Statutory Auditors 1010 Eskdale Road Winnersh Triangle Wokingham United Kingdom RG41 5TS 28 Apr 2026 Date:
FLB Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
8
The Rayners Penn Foundation
(a company limited by guarantee)
Statement of Financial Activities (combined income and expenditure account) For the Year Ended 31 July 2025
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| Note Income from: Donations and Legacies 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income/ net movement in funds Total funds brought forward Total fund carried forward 12 |
Unrestricted Funds 2025 £ 6,524,999 101,179 6,626,178 2,216,680 2,216,680 4,409,498 1,431,042 5,840,540 |
Unrestricted Funds Period from 12 July 2023 to 31 July 2024 £ 5,000,000 101,334 |
|---|---|---|
| 5,101,334 | ||
| 3,670,292 | ||
| 3,670,292 | ||
| 1,431,042 - |
||
| 1,431,042 |
All the above amounts relate to unrestricted funds and are in respect of continuing activities. The charitable company has no recognised gains and losses other than the net movement in funds in the period.
The notes on pages 12 to 16 form part of these financial statements.
9
The Rayners Penn Foundation
(a company limited by guarantee)
Balance sheet as at 31 July 2025
Registered Charity Number: 1206060 & Registered Company Number: 14999261
| ___________ Note Current assets: Debtors 9 Cash at bank and in hand Liabilities: Creditors: due within one year 10 Net current assets Liabilities: Creditors: due more than one year 11 Total net assets The funds of the charity: Unrestricted funds 12 Total charity funds 12 |
____ Unrestricted Funds 2025 £ 5,984 7,350,936 7,356,920 (516,380) 6,840,540 (1,000,000) 5,840,540 5,840,540 5,840,540 |
_______ Unrestricted Funds 2024 £ - 1,451,334 1,451,334 (20,292) 1,431,042 - 1,431,042 1,431,042 1,431,042 |
|---|---|---|
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under the Charities Act 2011.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved and authorised for issue by the board and were signed on its behalf on: 24 Apr 2026
C. Hall
Chair
The notes on pages 12 to 16 form part of these financial statements
10
The Rayners Penn Foundation
(a company limited by guarantee)
Cash flow statement for the Year Ended 31 July 2025
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| Year Ended 2025 £ Reconciliation of net income Net income/expenditure for the reporting period 4,409,498 Adjustments for: Interest received (101,179) Increase in creditors 1,496,088 __ Net cash provided by operating activities 5,804,407 Cash flow from investing activities Interest received 95,195 _ Change in cash and cash equivalents in the reporting period 5,899,602 _ Cash and cash equivalents at the beginning of the reporting period 1,451,334 _ Cash and cash equivalents at the end of the reporting period 7,350,936 _ |
Period from 12 July 2023 to 31 July 2024 £ 1,431,042 (101,334) 20,292 __ 1,350,000 101,334 _ 1,451,334 _ - _ 1,451,334 _ |
|---|---|
The notes on pages 12 to 16 form part of these financial statements.
11
The Rayners Penn Foundation
(a company limited by guarantee)
Notes to the financial statements for the Year Ended 31 July 2025
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1. Accounting policies
(a) General information
The Rayners Penn Foundation is a registered charity, number 1206060 and a company limited by guarantee, number 14999261, incorporated in England and Wales. The address of its registered office is Rayners Estate, Church Road, Penn, Buckinghamshire, HP10 8LZ.
The prior year comparatives are prepared from the date of incorporation on 12 July 2023 to 31 July 2024, a period of 12 months and 19 days.
The financial statements are presented in pounds sterling (£) and rounded to the nearest pound (£).
(b) Basis of preparation of financial statements
The financial statements of the charitable company have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the charitable company's accounting policies. Estimates and judgements are continually evaluated by the Trustees based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances (see Note 2).
The Rayners Penn Foundation meets the definition of a public benefit entity under FRS 102.
The following principal accounting policies have been applied:
(c) Going concern
The Trustees confirm that at the time of approving the financial statements there are no material uncertainties regarding the charity’s ability to continue in operational existence for the foreseeable future. In arriving at this conclusion, the Trustees have taken account of current and anticipated financial performance in the current economic conditions and its reserves position.
The charity has limited overheads and only distributes grants with the reserves they have available. The Trustees consider there to be sufficient cash reserves to meet their future obligations including grant commitments and that it is appropriate for the financial statements to be prepared on a going concern basis.
(d) Income
Income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable that the income will be received and the amount can be quantified with reasonable accuracy.
(e) Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they been allocated to activities on a basis consistent with resources.
Governance costs are those incurred in connection with Governance of the charity and compliance with constitutional and statutory requirements.
12
The Rayners Penn Foundation
(a company limited by guarantee)
Notes to the financial statements For the Year Ended 31 July 2025 (continued)
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1. Accounting policies (continued)
(f) Grants payable
Grants payable are included under direct charitable expenditure when there is a legal or constructive obligation committing the charity to the expenditure.
(g) Taxation
The charitable company is a registered charity and as such is entitled to tax exemptions on income and gains, properly applied for its charitable purposes.
(h) Cash and cash equivalents
Cash is represented by cash in hand.
(i) Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the charitable company after deducting all of its liabilities.
(j) Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2. Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There were no judgement or material estimation uncertainties affecting the reporting financial performance in the current period.
3. Donations and Legacies
Donations
| 2025 | 2024 |
|---|---|
| £ | £ |
| 6,524,999 | 5,000,000 |
13
The Rayners Penn Foundation
(a company limited by guarantee)
Notes to the financial statements Year Ended 31 July 2025 (continued)
_ _________________
| 4 Investment Income 2025 £ Bank interest received 101,179 5. Charitable Expenditure 2025 £ Grants payable (see note 6) 2,197,000 Other costs 19,680 2,216,680 Other costs include expenditure on head office, finance and governance costs. 6. Grants payable 2025 £ Grants payable to: Communities 37,000 Support for Children 2,160,000 2,197,000 All grants paid during the year and prior period were made to institutions. 2025 £ Grants payable to Communities: Grants payable <£10,000 37,000 Centrepoint - 37,000 Grants payable Support for Children: Grants payable <£10,000 10,000 Smartphone Free Childhood Onside 150,000 2,000,000 2,160,000 |
2024 £ 101,334 |
|---|---|
| 2024 £ 3,650,000 20,292 3,670,292 2024 £ 3,500,000 150,000 3,650,000 2024 £ - 3,500,000 3,500,000 - 150,000 - 150,000 |
14
(a company limited by guarantee)
The Rayners Penn Foundation
Notes to the financial statements Year Ended 31 July 2025 (continued)
_ _________________
7. Operating surplus
| This is arrived at after charging: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Auditor’s renumeration | 10,080 | 9,600 |
8. Trustee remuneration
There were no employees during the year .(Period Ending July 2024: Nil).
No member of the board received employee benefits in excess of £60,000.
The Trustees receive no remuneration in respect of their services to the charitable company. No expenses have been reimbursed to the Trustees.
9. Debtors
| Other debtors 10. Creditors: Amounts falling due within one year Accruals Grant Commitment 11. Creditors: Amounts due after more than one year Grant Commitment |
2025 £ 5,984 2025 £ 16,380 500,000 516,380 2025 £ 1,000,000 |
2024 £ - |
|---|---|---|
| 2024 £ 20,292 - 20,292 2024 £ - |
A commitment has been made by the charity to provide support to four London Youth Zones connected to Onside, an organisation supporting the wellbeing, aspirations and life chances of young people. The outstanding grant commitment at the yearend date, which totaled £1.5m, is to be paid over 3 years.
15
The Rayners Penn Foundation
(a company limited by guarantee)
Notes to the financial statements Year Ended 31 July 2025 (continued)
_ _________________
12. Statement of funds
| Unrestricted funds Prior Period: Unrestricted funds |
Balance at Balance at 31 July 31 July 2024 Income Expenditure 2025 £ £ £ £ 1,431,042 6,626,178 (2,216,680) 5,840,540 1,431,042 6,626,178 (2,216,680) 5,840,540 |
|---|---|
| Balance at Balance at 12 July 31 July 2023 Income Expenditure 2024 £ £ £ £ - 5,101,334 (3,670,292) 1,431,042 - 5,101,334 (3,670,292) 1,431,042 |
13. Related party transactions
During the year, the Foundation received donations from the following trustees of the charity totalling:
| Peter Kelly Sharon Kelly |
2025 3,000,000 3,524,999 6,524,999 |
2024 5,000,000 - 5,000,000 |
|---|---|---|
14. Financial Instruments
The Chairty's financial instruments may be analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at amortised cost | 7,356,920 | 1,451,334 |
Financial assets measured at amortised cost comprise other debtors and cash at bank and in hand.
15. Post Balance Sheet Events
The Foundation became registered for Gift Aid in October 2025, allowing the Foundation to claim gift aid on donations received from 5th December 2023. It is expected that the amount of gift aid receivable for the period to 31st July 2025 will be £1,631,250, this will be recognised within the financial statements year ended 31 July 2026.
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