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2025-03-31-accounts

Charity number: 1208998

THE CLIVE GARNER MEMORIAL

AUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

THE CLIVE GARNER MEMORIAL

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 5
Independent auditors' report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 17

THE CLIVE GARNER MEMORIAL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025

Trustees Mr C D Gibbs, Trustee (appointed 5 July 2024) Mr J K Kitson Jones, Trustee (appointed 5 July 2024) Mr D G Rowley, Trustee (appointed 5 July 2024) Charity registered number 1208998 Principal office Albany House Claremont Lane Esher Surrey KT10 9FQ Independent auditors Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ Bankers National Westminster Bank PLC

Page 1

THE CLIVE GARNER MEMORIAL

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements for the period 31 March 2025

The Charity was incorporated as a Charitable Incorporated Organisation (CIO) on 5 July 2024.

This report highlights our achievements in 2025, and our outlook for 2026 and beyond.

OBJECTIVES AND ACTIVITIES

POLICIES AND OBJECTIVES

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and maintain sufficient unrestricted funds in order that the charity can run efficiently and continue to meets its aims.

What we are here to do:

The CIO's charitable objects are as a grant making organisation with the sole object to advance general charitable purposes (according to the Law of England, Wales & Scotland) as the trustees see fit from time to time. Nothing in this constitution shall authorise an application of property of the CIO for the purposes which are not charitable.

ICIO's charitable objects guide the trustees, such that they are:

We will continue to achieve this by providing supporting activity and funding to Charitable Foundations in which the late Clive Garner expressed his wishes to fund and that the CIO should fund as part of his bequest .

ACHIEVEMENTS AND PERFORMANCE

REVIEW OF PROGRESS AND ACHIEVEMENTS IN 2025

What We Achieved:

The CIO was incorporated in July 2024 to establish a legal charitable entity and 3 Trustees were appointed to ensure the enactment of the wishes which the late Clive Garner had set out to his executors in his will and under a deed of variation approved by the High Court as to the distribution and settlement of his assets to his beneficiaries and to charity.

On the conclusion of legal due process, the CIO was settled with property and investment assets in March 2025 following the approval of the deed of variation to give substance to the funding of the Charity and enable it to carry out its charitable activities in accord with its objectives.

The trustees have undertaken to realise these investments as they mature and are needed to make future grants and funding to Individuals, Organisations. Foundations and Charitable Bodies.

It is the Trustees' responsibilities under law and intentions that in all matters of grants and funding made that they act 'as Clive would have wished' such is the high regard and deep respect they had for him and to act in accordance with Charity requirements.

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THE CLIVE GARNER MEMORIAL

TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 MARCH 2025

Overall significant progress has been made in the year in the establishment of the means to fulfil the Charity's objectives and aims.

PRIORITIES FOR 2026

The Charity's trustees have undertaken research to assess and identify Charitable Foundations, Organisations, Communities and Individuals which can benefit from Grants and funding available once investments mature and are realised to provide the necessary funds. They are keen to make significant contributions to Charities to make a difference given the overwhelming needs for Charities to raise funds and look forward to doing this in 2026.

FINANCIAL REVIEW

REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS

During the year, the charity received legacy income of £4,524,304 from the late Clive Garner which established the assets and reserves of the CIO held at the year ended 31 March 2025 and enables the Charity to achieve its purposes and objectives.

The legacy income was received in the form of property, investments and cash at bank and will allow the CIO to make grants in 2026 once liquid funds are available from their realisation.

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks broadly fall into three categories: Reputational, Financial and Physical risks.

Reputational risks: These relate to the good governance of the charity and of its activities. During the year regular meetings of the trustees seek to mitigate these risks.

Financial Risks: Primarily these are centred around the good and safe management of the charity's funds. This relates to the operation of internal controls and systems in this area such as formal authorisation procedures, investment and bank accounts security details are monitored.

Physical risks: These relate to the property owned by the CIO which is mitigated by proper maintenance, physical inspection and building and contents insurance cover

GOING CONCERN

The Trustees take the view that the level of risk of reserves and cash held is acceptable given the current economic climate in which the charity is operating. The Trustees have a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future. As shown in our accounts, our cash position continues to demonstrate that we are able to fund our revenue expenditure. We believe that there are no material uncertainties that call into doubt the charity’s ability to continue and the accounts have therefore been prepared on the basis that the charity is a going concern.

INVESTMENTS POLICY

Our reserves have been held in investments and bank deposit accounts as this provides the most flexible approach to achieving the Charity's grant allocations.

Page 3

THE CLIVE GARNER MEMORIAL

TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

Constitutional structure

The Clive Garner Memorial, registered as a charity on 5 July 2024, Charity No 1208998 and is incorporated as a Charitable Incorporated Organisation.

Charitable objects and Public Benefit

The Trustees confirm that they have complied with the duty in Section 4 (4) of the Charities Act 2011 by referring to the Charity Commission’s general guidance on public benefit when reviewing the aim and objectives of the CIO and in planning its future activities.

The opportunity to benefit is not restricted by any constraint other than to ensure compliance with the constitution and charity law.

Board of Trustees

The Trustees have ultimate responsibility for directing the charity, ensuring that it is solvent, well run, and delivering the charitable outcomes for the benefit of the public and its beneficiaries for which it has been set up. They are responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries.

In addition to the Constitution, Charity law, there is the responsibility to act in accordance with the guidance and wishes provided by the late Clive Garner and his legacy settled on the CIO.

The Trustees at the end of the year and since the year end are set out on the legal and administrative information page.

Statement of Trustees' responsibilities and Management of The Clive Garner Memorial Trust

Trustees

There are up to 3 trustees whose responsibilities can vary from time to time but help ensure that the charity meets its objectives and achieves its goals, projects and fuding activities.

Page 4

THE CLIVE GARNER MEMORIAL

TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 MARCH 2025

ORGANISATION

Trustees are appointed in accordance with Charity guidelines as laid out in the constitution. New trustees, if required, would be recruited on a 'skills required' basis and would be inducted and trained by attending Trustee meetings. The Trustees meet regularly and, in any event, at least once a year. As long as there are not less than a quorum of trustees, decisions can be made by a majority of the trustees and any action or decision of that majority becomes effectual and valid.

INFORMATION ON FUNDRAISING PRACTICES

The CIO is not currently involved in specific or targeted fundraising activities but has the benefit of investment income and interest earned which is available to provide further funds.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

This report was approved by the Trustees, on 15 January 2026 and signed on their behalf by:

Mr J K Kitson Jones, Trustee

Page 5

THE CLIVE GARNER MEMORIAL

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE CLIVE GARNER MEMORIAL

OPINION

We have audited the financial statements of The Clive Garner Memorial (the 'charity') for the period ended 31 March 2025 set out on pages 9 to 17, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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THE CLIVE GARNER MEMORIAL

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE CLIVE GARNER MEMORIAL

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

The responsibilities of the executive committee for preparing the executive committee's annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of executive committee's responsibilities. 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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 auditors' 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

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THE CLIVE GARNER MEMORIAL

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE CLIVE GARNER MEMORIAL

USE OF OUR REPORT

This report is made solely to the charity'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 charity's trustees those matters we are required to state to them in an auditors' 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Wellden Turnbull Limited

Albany House Claremont Lane Esher Surrey KT10 9FQ 15 January 2026

Wellden Turnbull Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 8

THE CLIVE GARNER MEMORIAL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2025

Note
INCOME FROM:
Donations and legacies and grants
2
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
3
TOTAL EXPENDITURE
NET INCOME BEFORE OTHER RECOGNISED GAINS AND
LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2025
£
4,524,304
4,524,304
7,200
7,200
4,517,104
4,517,104
-
4,517,104		 Total
funds
2025
£
4,524,304
4,524,304
7,200
7,200
4,517,104
4,517,104
-
4,517,104

The notes on pages 12 to 17 form part of these financial statements.

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THE CLIVE GARNER MEMORIAL

BALANCE SHEET AS AT 31 MARCH 2025

Note
FIXED ASSETS
Tangible assets
5
Investments
6
CURRENT ASSETS
Cash at bank and in hand
CREDITORS:amounts falling due within one year
7
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
8
TOTAL FUNDS		 2025
£
£
1,600,000
1,523,989
3,123,989
1,400,315
(7,200)
1,393,115
4,517,104
4,517,104
4,517,104		 2025
£
£
1,600,000
1,523,989
3,123,989
1,400,315
(7,200)
1,393,115
4,517,104
4,517,104
4,517,104
3,123,989
1,393,115
4,517,104
4,517,104
4,517,104

The financial statements were approved by the Trustees on 15 January 2026 and signed on their behalf, by:

Mr J K Kitson Jones, Trustee

The notes on pages 12 to 17 form part of these financial statements.

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THE CLIVE GARNER MEMORIAL

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash provided by operating activities
Cash flows from financing activities:
Receipt of endowments and legacies
Net cash used in financing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
The notes on pages 12 to 17 form part of these financial statements.		 2025
£
4,517,104
(4,517,104)
(4,517,104)
-
-
-

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The Clive Garner Memorial constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Investment income is accounted for in the period in which the charity is entitled to receive it.

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES (continued)

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.4 Tangible fixed assets and depreciation

Depreciation is not provided on the freehold property which is fully maintained and revalued on a regular basis by the Trustees.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

The Charity revalues the freehold property to its fair value when it can be measured reliably. The revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the statement of financial activities.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES (continued)

1.7 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for and trade discounts due.

1.9 Liabilities and provisions

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. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.11 Taxation

The Clive Garner Memorial is recognised as a charity by HMRC and benefits from exemption on income and gains to the extent they are applied for Charitable purposes.

1.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. INCOME FROM DONATIONS AND LEGACIES AND GRANTS INCOME FROM DONATIONS AND LEGACIES AND GRANTS
Unrestricted
funds
2025
£
Legacies 4,524,304
3. CHARITABLE ACTIVITIES - GOVERNANCE COSTS
Unrestricted
funds
2025
£
Auditors' remuneration 7,200
4. NET INCOME/(EXPENDITURE)
During the period, no Trustees received any remuneration, benefits or reimbursement expenses
5. TANGIBLE FIXED ASSETS
Freehold
property
£
Cost
At 5 July 2024 -
Additions 1,600,000
At 31 March 2025 1,600,000
Depreciation
At 5 July 2024 and 31 March 2025 -
Net book value
At 31 March 2025 1,600,000

Freehold property has been valued at £1,600,000 on an open market value basis by the Trustees as at 31 March 2025

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

6. FIXED ASSET INVESTMENTS

Market value
At 5 July 2024
Additions
Disposals
At 31 March 2025
Analysis of material investments

Equities and property		 Investments
£
-
2,847,432
(1,323,443)
1,523,989
31 March
2025
£
1,523,989		 Investments
£
-
2,847,432
(1,323,443)
1,523,989
31 March
2025
£
1,523,989
1,523,989
31 March
2025
£
1,523,989
1,523,989
7. CREDITORS: Amounts falling due within one year
2025
£
Accruals and deferred income 7,200

8. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at 5 Balance at 31
July 2024 Income Expenditure March 2025
£ £ £ £
Unrestricted funds
General Funds - all funds -
 4,524,304 (7,200) 4,517,104

The funds above are unrestricted

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THE CLIVE GARNER MEMORIAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

8. STATEMENT OF FUNDS (continued)

SUMMARY OF FUNDS - CURRENT YEAR

Balance at 5 Balance at 31
July 2024 Income Expenditure March 2025
£ £ £ £
General funds -
 4,524,304 (7,200) 4,517,104

All assets and liabilities within the CIO are allocated as shown in note 9.

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted Unrestricted
funds
2025
£
Tangible fixed assets 1,600,000
Investments 1,523,989
Current assets 1,400,315
Creditors due within one year (7,200)
4,517,104

10. RELATED PARTY TRANSACTIONS

There were no related party transactions other than as disclosed in the notes to the accounts.

11. CONTROLLING PARTY

There is no ultimate controlling party. The CIO is controlled by its trustees.

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