PATRIC DONALD, CHRISTINE & PATRICK SHEPHERD FOUNDATION (Reglstered Charlty No. 1206602 and Company No. 14950743 ANNUAL RepoftT OF THE TrUSTEES AND FINANCIAL STATEMEKrs FOR THE PERIOO FROM 1 JANUARY 2024 TO 31 MARCH 2025 ¥AECBZMIX• 02111Y2025 CQMPANIES HOUSE
142
RAWLINSON & HUNTER
PATRICW OONALD. CHRISTINE & PATRICK SHEPHERD F¢)UNDATION ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMEKrs FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 CONTEp¥rs Annual Report of the Trustees Independent Examinerfs Re[1 ststement of Financial Athiti'es {including Income and Expenditure Accounl) B81ance Sh8&t Noles lo Ihe Financial Ststement5 9-14
P•ge 1 PATRIC DONALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 The Trustees present their report and the independerbtly exarnined financial statements of the Patricia, Lbnsld. Christine & Patrk Shepherd Foundation (Ihe Foundation" or'lhe charitable company"), for the period from 1 January 2024 to 31 M8rch 2025. These have been prepared in accordance with the accounting policies set out on pages 9 to 11 compty with appliCate tharity Iw. During th8 previous period the charity was donnanl. The financial stslements compty with the Charities Act 2011 and Whe appluble, the Chaiities A¢1 2D22, Companies Acl 2006. the Memorandum and Articles of Association. and Accounting aTh Reporting by Charities.. Slatefflent of Recommended Practice appluNe to charilies preparing their 3ccounls in OrdanCe with the Finanual RetK>rting Sta"ndard applble in the UK and Republic of Ireland IFRS 102) I'chanlies SORP FRS 102.). tt Financi81 ReFrf)thg Standard ?pplicatle in the United Kingdom and Republic of Ireland {FRS 102)- REFERENCE AND ADMINISTRATIVE DEfAILS The Patricia. Donald. Christine & Patri( Shepherd Foundalion, (registered charity number 1206602 and company number 14950743) is based and administered in the United Kingdom. The regisleffjd adthess is Third Floor. 20 Old Bailey. LoThJon. EC4M 7AN. Dirgdors and Tru$tees: The Directors and Truslees of the Foundation held Of during the period and continue to serve at the date ofthis rewt a.. Chfistine Margaret Shethrd Joseph Oliver Shfjpherd Mthael James Shepherd Patrid( mhael Shepherd The Trustees dld rnt hold any benefthl h)terest kn the FouThJatk)n at 31 March 2025 or at any time during or since the period. Bankers: C Hoare & Co 37 Fleet St. Temple. London EC4Y 1BT Sollcbtors: Withers LLP 20 Okl Bailey, London. EC4M 7AN Accountants: Rawlinson & Hunter LLP Ejghlh FkM)r. 6 New Street Square. New Fetter Lane. Lor•S)n. EC4A 3AQ Investment Advisor- Broadstone Investment Management Lwnited 100 Wood Street. Lonthsn. EC2V 7AN Indepond•nt Examiner. Yueling Wei FCCA Eighth Fk)or, 6 New Street Square. New Fetter Lane. London. EC4A 3AQ
Page 2 PATRICIA DONALD, CHRISTINE & PATRICK SHEPHERD FOUNDATION ANNUAL REPORT OF THE TRUSTEES ANO FINANCIAL STATEMENTS (continu•d) FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The Foundation is a privatè Iwnited company govemed by its Merrw)randum and ArtleS ol Association and is registered as a charity with the Charity Commission for England aThJ Wales. 11 was incorF(srated on 21 June 2023 befcffe receiving recognrtion by the Charity Commlssknn on 18 January 2024. The Trustees are resident in Ihe United Kingdcxn meet regularly to discuss and develop the Foundation's goa15 and strategy arvj to review grant prop05a15 and general grant requests. The number of Trustees shall be a min1mL of iwo at one lime and r¥ Trustees shall be apF(Jinted by ordinary resolution by the existing Trustees. The ratwJe of skills represented on the Ttustee Board wll be kept under revw as the FoundatK)n develops over lime. Induction and Trainlng As part of their training. TnJslees are given an infmtion pack whth includes the Foundallon's Memorandum and Artides of Associalion and the Charity Commission guKlan¢e on Trustees. Responsibilities. AJI Trusle&s are aware of Iheir legal duls and oblualions in respect of the management ofthe FoundatK)n. hjdij in relation to the protectn of its 8ssets. Ststement of Truste, Re$ponsibilities The Trustees {vtho are also Dir&tots of the FourKlation for the purposes of cornpany lawl a responsible for pweparing the Annual Report of the Truste&s and the finala1 statements in accordance with aPpb law and United King&)m AOUnting Standards (United Kingdom Generally Acceprted Acwunting Prac). Compary law requires Ihe Trtee5 to prepare financial staternenls fLY exh fmanoal period. Under Company Law the Trustees mt not approve the financial statemenls unless they are satisfied that tsy give a true and fair view of the stale of affair5 of the tharitable company and of the incoming resources and applicatn of resources. including the income an(i expendit(Jre. of thè charitsble Gompany for Ihe pen'od. In weparing these fanal statements. the Truslees are required to.. select suitable 2tt0unting polic$ and then aFoty them eonsistently: ob5evve the methods and princip$ in the charies SORP IFRS 1021: make judgements and estimates that are reasonab arvj prudent.. stale whether appkab UK Ac¢ounting Standards have been folk>wed. subject to any material departures discbsed and explained in the financial 5taterfftnts". and prepare the financial statements on the going concem basis unless it Is inapprowiate to presume Ihal the chertsble company will continue in operation. The Trustees are r8swnsible for keeping adequ*e ac(ounting records that dilOse with reasonable accuracy al any lime the financlal position of the charitabl8 company and enable Ihem 10 ensure Ihal the financral stslemenls compty wrth tre Compan$ Act 2006. They a also responsible for safeguarding the assets of the charitable company and hence for laking reasonable sleps for the prevention and dele(aKtrn of fraud and other irreguLaTities.
Page 3 PATRICIA, DONALD, CHRISTINE & PATRICK SHEPHERD FOUNDATION ANNUAL REPORT OF THE TRUSTEES AND FIIIANCIAL STATEMENTS {¢ontlnu•d) FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEME1 {continued) Internal Controls Th8 Trustees have overall responsiblty for ensuring Ihat the Foundation has aPPTopriate Systems of intemal c4Jntrols. They are respOr1bIe for keeping proper accounting records whh disckjse with reasonable accuracy at any time the financial position of the Foundation and enab them lo ensure that the financkil statements foik)w test practice and all applicable law regulation and gui(Jance. The Trustees 8re also reswnsible for Foundation $8fegu8rding its assets and for taking reax)nable steps for the prevention and detectirm ol fraud and other irregularit18S. The syslgm of internal ntrOl$ is desigwd to provide reasonable. but not ats01e, assur8nce against matèrial misststement or k)ss. Rlsk hlanaggment & Corporate Governance A risk assessment has en undertaken whth comprises.. An annual VIeW of the risks Ihe Foundalion face; The e5tsbli5hmenl of syslems and Fwocedures to mitNJate those risks. and The IMpMental10n of procedures dest91 lo ffiirwmise any potential impact on the Foundation should those risks materialise. Thi$ continuing Kyocess will Klentify risk areas to whth the Foundation is Vulnerab and highlight any necessary saleguards that will need to be wt in place. major risks were identified at the dale of these accounts. The Trustees have signed fft and proper declarations in line wilh HMRC guidan¢e. In addItTr. the Trustees have laken due cgn5NJerdtion of Good Governare - A Code for the Voluntary and Communty Sedcff. en5wing Ihat the seven main princiFAes of Ihe C(Kle are adtr*red to. These are". OrganisatKinal purpose., Le8dership'. Integriiy.. DecisioTrmaking. risk arxl control Board effeetiveness", Equality. diversrty 8nd inclusion- and One$S and aCCesslIrty. The Trustees reLX)gni5e that good govemance plays an essential part in securing the future of the Foundation and confimi that the sa•Y prinoF4es of Ihe Code are followed by them In dIng. directing and m8naging the Fovndalion.
Page 4 PATRICIA DONALD, CHRISTINE & PATRICK SHEPHERD FOUNDATIOhl ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS (contlnu•dl FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 OBJECTNES AND ACTMTIES FOR THE PUBUC BENEFrr The objects of Ihe Foundation we sh exclu5ivefy chavilat4e purposes as the Trustees m8y in their absolute discretion detennine. The Foundalion Okrates as a grant-making charity, supporting ¢harilable projects and organisations wlh grants of V8n9 sttes and dUraln$. The Truslees have developed a solKY framework for future grant-making activities and have refined their gran1-MakK focus areas. The Trustees have pursue(l a broad strategy of ensuring proper due di1ven in the assessment of potential grdnts and ensuring that grants are made svbject lo appropriate tern and cryiditions. ststemenl of Publlc Beneflt As a grant-funder. the FoUndat'S actNils will provKle public benefrt to the Individuals and communities who are benerl8neS of the Foundation's funded projects. The Foundation's public benefrt is not limited with referonc to geography. by the charging of fees or otherSe. The Tfuslees are aware of the Charty COmmisOn guIdae on Public Benefit and confimi that they have Comled with Ihe duty in Section 4 01 the Charilies Act 2011 to have due regaré lo h. Thay consider the information which fdknws in this annual repKJrt. about the Foundation's aim5. activities and achievements in the areas of interest that the FouNJ8lion supports demonstrates the benefll to its benekiaries and through them lo the public, that arise from those &tNib"es. Gront Maklng Policles The Trustees. grant making policy has been to generally consider making donalions by way of grants to charilable organisations r8cognBed as such in their respectrve juriséKb"ons lor projects that are excluS¢ve charitable under English law. The Foundation has begun lo put in place souncs grant arrangements so that it can continue to propety select approprrdte grdnlees and Impose prudent levms on grants, indudin9, as appropriate, monitoring and evaluation of the way in which funds are apsJd by gfantees. The Trustees wish lo supwrt charities based in and arourvj York, recognising the Foundation's thse Comections to the area, but are keen lo expand grant making to support specifK causes across the UK as the opwrtunrt•es arise. ACHIEVEMENT AND PERFORMANCE Invosim•nts The assets of the FouThJation consist Principally of quoted inveslmenls and cash and thes6 are collectively rewded on the Balance Sht a1 supporting notes at their market value at the year end. Addrtionally they hold a number ol unquoled investments whth are held at their lasl valuation date. An impairrnenl review has been conducted on the unquoled inVeStrnts and the Trustees believe r( appropriate lo hokj them al their current value. Any increase or decrease over the previous years, market value of these investments is recorded in Ihe Statement of Finanryal klNitses. As al 31 March 2025. Ihe value of the Foundation's investments was £15,9)5.297 {2023 - £nKI) induding cash under management and bng temi fixed deposits. Investment performance is ffKnitore4J by Broadstone who report their findings lo the Truslees quarledy.
A1•4114L REPORT OF IIE TPIISTEES AND FIK4IXaAL STATeiiENTS (cothu•d) DvKt dwilaNe exwmmure kn the totaled E233,373 (2023 . £rnD fiiL elphl donAtsons totalhw £118,(rx) (2023- £1) p••J to swon LIK rngisler•d ¢hwdi•s in aTrJ around t Y)rksPfft region. as ts F¢MTrJion's ¢0. All re paid in line tr A ofwts mad• duwrfJ tho wiod is pago 12 £17.1)32.561 (21riJ. £fi. of £16.798.398 TKaS as an exp8rKll• fixKI regist•rod LIK (•wils of £118,OCKI and suppwl c¥)sts of £115.373 {20rJ . £nil and thl). Expenditurn on rdising fuids th>n £48,881 (2023 . £rI and ftlated ¢rlirnty to the The bdanc of in thè at 31 2025 NS £16.511.rn (l £T40 is Ufftsts rn50ry•4 retsined to fund wnts vi ith th FOoIn,$ tharitab ond adequate takirfj into plkn for to b• •d in fubJro ar haw al hyèsent The Tnjsleos do not pn¥Jose lo deviate from the ¢)Jrrnrt obi¢diw$ of th• Foundalton Jelatted in Section 3 rf Ilws rw txrt IMII fi¥trw dweknp and rnfine th*r wkciws APprd by th• on
Page 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PATRIC LK)NALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION I report lo thc Truslees on my examination ol the Finanoal Statements of the Patricia. Donakj. Christine & Patrk Shepherd Foundation l-compary" or "Charty-} for the period from 1 January 2024 to 31 March 2025 which are Set out on page$ 7 to 14. R•sponsibillties and Basls of Report As the Charity Trustees of the company {aThJ also its directors fof the purposes of company lawl you are responsible for the preparation of the Finala1 Statements in accordanL with the reqU1MentS of t Companies Act 2006 {Ihe 2006 ACY). Having satisfied myself that the financial statements of the CLinpany are not required to be audtted under Part 16 of Ihe 2tKJ6 and arg eligible for independent examination. I repK)rt in sPect of my examination of your company's Financial Statnts as carried out under section 145 of the Charities Ael 2011 I'the 2011 Act,). In carrying out my examination I have folkswed the Directions given by the Charily Commission under section 145(5Xb} of Ihe 2011 ACL Independent Examiner's Statement Since the Company's gross inGome exceeded £250.000 your examiner musl be a member of a body listed in 145 of the 2011 Act. I confirm that l am qualffi8d to undertake the examinalion because I am a rnernr of Associalton of Chartered Certified Aoxjuntants. which is one ol the It5t8d bodies. I have com eted my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting recy)rds were nol kept in respecl of Ihe company as required by seclion 386 of ihe 2006 Act., or the Financial Slalements do not accord wilh those records., or Ili¥ Finaiicial Statements do not cA)mFAy with accounting rcquircmcnLv of 396 of thc 4OC Act other than any requirement that the finartl statements give a Xrue arKI fair vieNW which is not a matter considered as part of an independent examinatKJn: or the Financi81 Statements have not Len prepared in acts)rdan¢e with the methods and principles of the Statement of Recommended Praclice lor accounting and rew)iffjng by charities applicable lo charities preparirrfJ their Financial Statements in accordance w51h the Financial Reporting Standard applicable in the UK atid Republic of Ireland IFRS 102). I have no concems 8nd have eorne across no other matters in ¢onnecti¢)n with the examinalion to which attention should be drawn in thi5 reFx)rt in order lo enabk a proper understanding of the Financial Statements tD be read)ed. Yueling Wei FCCA Eighlh FI)r 6 New Street Square New Fetter Lane London EC4A 3AQ 13ty"
Page 7 THE PATRICIA DONALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION STATEMENT OF FINANcL AcnvmES IlnGluding InGome & Expenditure Account) FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 IAARCH 2025 Unrgstri¢t•d Exp¢ndable Funds Endowment 2025 2025 Total Funds 2025 T¢)tal Fund$ 2023 Page Incomo flom: Donations {note 2) Investrnerts {note 3) 16,798.398 16.798,398 234.163 234.163 Tolal Income 234.163 16.798.398 17.032.561 Exp•nditur• on: Charitalje activtties (note 4) Raising furnjs {note 5) 12 12 233.373 233.373 48,881 48.881 Totsl Expenditure 233.373 48.881 282.254 Net loss on investmènt assets (note 61 13 {238.519) {238,519} Not Incomè 790 16.510.998 16.511,788 Net movement In funds 790 16.510.998 16.511.788 R•conclllatlon of funds Totsl Funds 8rought Forward at 1 January 2024 Total Funds Carri•d Fobiyard at 31 March 2025 7W £16.510,998 £16,511,788 £ l amounls Telale to conbnuiThJ otralions. The prJr period o)mparats"ves run for the peric from 21 June 2023 to 31 December 2023. There were no re¢ognised gains anol losses for tho pgriods onding 31 December 2023 or 31 March 2025 other Ihan those included in the Income arKI Eynditure Account. notes.on pages g to 14 fomi pwt of the finanoal stalem8nts
AT31 MAITh 2025 13 15.W5,297 Cash (n(*• T) 13 631.V25 631.925 Li•bilill•&' 13 25.434 I.491 £ 16.511.7e6 £ 1611.780 £ 11511,788 £ ir b•h&Y ty.
Page 9 PATRICIA. DONALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 IAARCH 2025 ACCOUNTING POLICIES The Patricia Oonald Christine & Patrick Shepherd Foundation. (registered charity number 1206602 and company numbor 149507431 is based and administered in the United Kingdom. The registered address is Third Floor. 20 Okj Baijey, London, EC4M 7AN. Basis of Preparation of Flnanclal Statements The fina1 statements have been prepared in acwdance with Accounting and Reporting by Charities". Statement of Recommended praCe applicab18 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 I"Charilies SORP FRS 1021. the Financial Rerting Standard applicab in the United lthngdom and RepublTrc of IreLqnd IFRS 102), the Charities Act 2011 and sthere applicable. the Charities Act 2022, the Companies Act 2006 and UK Generalty A¢¢epted Accounb"ng Practice. The FoUndat)n constiiutes a publ¢ benefft entity as defined by Charities SORP FRS 102. The FOundatn has applied the provisions Set out in FRS102 as published on 5 October 2019 and does not include a cash flow statement on this basis. The financial statements are prepared on a going concem basis under the historical cost onvention. modifml to indude certain items at fair value. The si9nificanl accounting policie5 apylieé in the prePal)n of these finar131 Statements ar8 set oul below. These policies have been consislentty applied lo all periods presented unless otherwise st8te(J. In applyir¥J the financial reporting fvamev•ork. the Trustees may have to make a number of subjective IlKeMentS. for example in respect of signsficanl accounting estimates. Eslimales and juthJements are continually evaluated and are based on historical eXperte and olher factors, including expectations of fiJture events that are iElieved lo i asOnable under the rcumstsnces. The nalure of ihe eslimation means the actual ouicomes could drffer from those estimates. No signifKant estimates and judgements have been made. The fInarla1 sLements a presented in GBP which is the fundional Cur Y of FoundatK)n. Investments Investments 8re a fom) of basic financ01 instruEnt and are initially recognised al their transaction value antl subsequently measured al their fair value as at the baknee sheet date using the closing quole(J market price. change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realis8d or unrealised. are mbined and shown in the heading "Nel gainsl(losses) on investhients" in the statement of financial activities. The Foundation does not acquire put Optns, derivatives or other complex financial instruments. Cash hdd for inve5trnent and term deF*)sits maturing in more than one year are ITK1jed wilhin the Fixed Assets Investments in aCcdanCe with the applble slatemenl of Recommended Practice.
Page 10 PATRICIA. DONALD, CHRISTINE & PATRICK SHEPHERD FOUNDAnoN NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 ACCOUNTING POLICIES (¢ontinued) In¢ome R•¢ognition Investment incomc 13 derr4cd from inlcrv.t ond dNithnd* receivoblo from investment and i: counted for in the pellod in which the FoundatKsn entrtled 10 Teceipt. Interest from deposit counts are includèd when re¢%ivable onty. All in(x)ming resources are included in the SOFA when the Foundaiion is entrt lo Ihe income and the amount can b8 quantthed with rgasonable curacy. Resources Expond¢d All expenditure is H1¢lu(d on an u?1$ basis and is recognised when there is a legal or constructive obligation committiTh3 the Truslees to the expenditure. Charitable aGltrvrties comprise grants lind donot10 mtsje and govemanee Incue during the period and arg exF¢nded through the SOFA when the offer is cx)nveyed to the recipient. Governance costs relale to the genoral running of the Foundation. as opwsed to th• management functions inherent in generating fur¥Js. Financial instwments Tlie fuundatKJn only ha8 financial ond finoncial k.abililias of a kind thal quah'fy a-. baGIC IancIal instruments. B8si¢ financial instruments are recognised al Iransaction value and subsequently measured at their seluement value. Status of lunds The entire resources of the hjnd are unrested and the Trustees have cornplete discretion for their use in pursuance of its obJ"e¢tives. For•ign currency A55els and liabilities denominated in foreign cUTne4&S are tTanslated at the rale of exchan9e ruliiig at th& Balan oheet date. Transaction- dcnominatcd in foroign curroncieo orc convcrtcd ol the rate of exchar¥Je ruling al the dale of Ihe transxtion. All tranSlatn drflerences are taken to the Stslemenl of Financial Activities as they arise. Taxation The Foundalion is not subject lo any taxes on its charitable activrtie5. Irrecoverable VAT is charged against the category of resources expended for vthich il was incurred. Debtors and creditors receivable I payable wilhin one year Dgblors at"Id creditors wth no 3tatGd Intcrest rotc and receivoblc or payablo within onc ycar arc recorded at Iransaction price. Any losses arising from impaimient are reu)gnised as expenditure. Cash and cash •quivaleThts Cash and cash equivalents include cash in hand. depx)srts hel(J on call banks. olher short-tem highty liquid investments wth onginal maturities ol ihree months or less and bank overdrafts. Bank overdrafts. when applicable, a With trrow7ng in current li8bilrtie5.
Page11 PATRICW DONALD, CHRISTIME & PATRICK SHEPHERD FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 ACCOUNTING POLICIES {continued) Provisions Provksions are recognised when the Foundatft has an obligalion al Ihe Balance Sheet date as 0 resum of a past event, il is probable that an OLrtfk)w ol econorni¢ benefit$ be required in settlement and the arTh)unt can be reliably ests'mat¢d. Golng Concorn The financial statements have been prepared on a Ing wncem basis as thg Trustees believe that no materol uncertainties exist. Th8 currenl Unrtaty in the global economy. including cosl inflating factors. have increased finala1 pressure on tharit$. The Trustees have however considered Ihe ¢onlingertcy plans in place. the Ve1 of fu1$ held and the exr*ded level of income and expenditu for fr1ve months from Ihe date of signing of these financial statements. The Trustees are salisfied the forecast income and reseNe5 are sufficient lo cover all of the bud9gled expenditure to be able to continue as a going concem_ The Trustees therefore consider the adoption of Ihe going concern basis in preparing these financial statements continues lo be appropriate. Pagg 2025 2023 INCOME FROM DONATIONS From UK Charitae Trusts £16.798.398 During the period the FouTrdat)n receiv1 a don81N)n totallin9 £16.798,398 from awher UK reGistered charity. This dOnatn comprised a shareholding in an unqted traying company. cash and quoted investments all transferred in specie. 2025 2023 INCOME FROM INVESThIENTS UK gecLrrilies Income Dewsrf( interest 19).971 43.192 £ 234.163
Pa9e 12 PATRIC I>ONALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 PaARCH 2025 2025 2023 EXPENDITURE ON CHARITABLE ACTWThIES UK Grants Award. Yorkshir8 Air Museum The Island Y¢yk Shepherd Group Brass Band Rhard Shephard Musrc Foundation The Hut York The York Foundation lor Conservatw)n and Craftsmartship Door 84 Reg. Charity No. 516766 Reg. Charty no. 1120420 Reg. Charty No. 1101867 Reg Charity No 1189066 Reg. Charity No. 1147146 50.oc 35.OCrf] 15.000 5.OCK) 5,000 Reg. Charity No. 1075135 Reg. Chanty No. 1203574 s.000 3,000 Total Grants Awarded 118,000 £ Support Costs Legal fees AcGounlan¢y fees Independent examination fees Bank charges 99.800 12,060 2.400 1.113 £ 115.373 Total Charltable Actlvhles £ 233,373 Thg kly management personnel of the charty comF*tse the trustees and there werg no emF4oyees during the peri(1. 2025 2023 EXPENDITURE ON RAISING FUNDS Investment Advisor fees Advisory Mandale lees 46,971 1.910 £ 48,881
Pag¢13 PATRICIA DONALD. CHRISTINE & PATRICK SHEPHERD FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025 Pa 2025 2023 FIXED ASSETS Investments and Cash under management Investments at market value al 1 January 2024 Total investment purchases at cost Total investsnenl disposals ai ¢arying value 21.119.137 15,516,219) 15.602.918 UnTealised loss on revaluation (238.519) Net loss ¢)n Investment Assets {238,519} Market value ai 1 January 2025 Cash held on bng temi deposits Cash held for investment 136,754 404.144 Total Value * 31 March 2025 £ 15.905.297 CASH AT BANK Cash hehj on fixed tem deposits and dewsrt aco)unts Cash held in bank accounts 551,312 80.613 £ 631.925 CREDITORS . amounts falling due within one year Grants payab Accountancy fees Loan from Trustee Legal fees Independenl examination fees 10.CKrfJ 3.634 2,400 25,434
Page 14 PATRIC DONALD. CHRISTINE & PATRICK SHEPHERO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 IAARCH 2025 UnTestricted Exp•ndable General Endowrntnt 2025 ANALYSIS OF NEf ASSETS BEfwEEN FUNDS Investments Cash at Bank Current liatslitEs 15.364,399 1.146.599 15.364.399 1.172.823 {25,434) 26.224 {25,4341 Total Fun(ts £16,510,998 £ 16,511,788 10. RELATED PAR TRANSACTIONS The Foundation received donation5 lOt8lfing £16.798.398 frcffi the Patricia and Donald Shepherd Charitsble Trust of whK the four tnjstees were abo truslees. The donations were capital additlons to an ex[ndable endi)wment fund. One Irustee baned the Fcwndat)n £4.000 ffi an Int#est free short term basis to assist with settlement of professional fees whilst funds were hdd on fixed terrn deposit. The loan remains outstanding al perK)d end and is Payable on em?J. No Trustee received remuneration durng the per*)d from 1 January 2024 to 31 March 2025 {2023 £nil). 11. ULnMATE CONTROLLING PARTY The Trustees consider that the FoundaticKI is jointy trle by the Tnjstees and that Ihere is no ullimate Controln9 paty.