Charlty Reg15tration No. 120963 THE SIR PETER RIG8Y CHARITABLE TRUST ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2025 THE SIR PETER RIGBY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust808 Sir P R>Jby, Chair J P Rigby H W Campion J A Groves (Appointed 16 August 2024) (Appointed 16 August 2024) (Appointed 16 August 2024) (Appointed 25 June 2025) Charlty number 1209638 Executive Director Sonia Chhthal Pilnclpal offl¢e Bridgeway House Brklgeway Stratfor¢>upon￿Vc wan￿1¢k$hIre CV37 8YX Audltor Ormerod Rutter Limited Charteied A¢¢ounlants The Oakley Kidderminster Road Oroitsvich Worce51ershire WR9 9AY Investment Managers J. P. Morgan SE 60 Victoria Embankwenl London EC4Y OJP Bankers Coutts & Co 440 Strand London WC2R OQS HSBC 130 New Street Birniingham Wesl Midland¥ B2 4JU Sollcitors Mills & Reeve LLP 24 King William Strggt London EC4R 9AT THE SIR PETER RIGBY CHARITABLE TRUST CONTENTS Page Trusle8s' report Independent auditorf3 report Consolldated statement of financkal ac￿v￿"e8 10 Con501idated balance sh991 11 Trust balance sheet 12 Consolidated statement of ca5hllJws 13 Note810 the financial stalem•nts 14-23 THE SIR PETER RIGBY CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present thelr annual report and financial sl*ements forthe year ended 5 April 2025. The accounts have been prepared in accordan¢o with the accounting policles sel out in nole 110 the accounts and comply with the CIO'S governing document, the Charities Act 2011 and °Accounling and Reporting by Charities." Stslement of R￿QMMended Practice applicable to charities preparing their accounts in a¢¢ordance wtth the Financial Reporting Standard applicablg tn the UK and Republi¢ of Ireland IFRS 1021°. Transfer of Charltable Trust to CIO The Trustees made the decision to change the legal status of The Sir Peter Rbjby Charitable Trust during the year ended 5 April 2025. The Sir Peter Rigby Charitabb Tru3t is now constituted as a Charitable Inc￿Orated OrganisatN)n ICIOI feglsleTed with the Charity Commisspjn on 16August 2024. The actwities and assets ¢f the PTaViOUS charitsblo trust were Iwsfgrred to the CIO a8 a golng concern. the accounts h￿e therefore been prepared on ￿ uninlemjpted conlnuation basis. Objectives and a¢tivities Objectlves and alms benefits The objects of The Sir Peter Rigby Charitable Trust are to appty the ineome and all or any part or part8 of the capital for or ttywards such charitable purposes as the Trustees may in their absolute discretion think f Grantmaking Grants are issued al the discretK)n of Ihg Trustee$ and there are no set rule5 or procedures. The Sir Peter Rigby Ch￿table Trust has historicalty made donations to other charities or organtsations which $eTved charitable purposes. in¢luding thg prowsion of benefits lo third parties. Publlc bengflt Th6 Trustees confirm that they have complied wlh their duty in Section 17 of the Charities Act 2011 and have paid due regard lo guidance issued by the Charity Commission for England and Wales in deciding whatactivibes the CIO shoukl undertak& The TTUStees are of the oplnkjn that the organi$ation$ $UF¥POrted meot the Conditions set out in the guidance. in The organis*ions provide identifiable benfjfits, which arg Glgar, are rela18d lo the alrn of the ¢yganisations and are balan¢ed against any detriment or harm,. and The organisalions provide to the public or a section of the public, who were appropriata to th$ aims of the organisalion, and who were not unreasonably Yestricied fr¢)rn benefiting. People in poverty are not restricted from benefiting by thè organisalions. Any private benefrts provided by the wganisat¢ons to The Sir Peter Rigby Chartiable Trust le.g. publicity) are incidental. The organi5altons supported by The Sir Peter Rigby Charitabl& Tru$l lond lo ￿ wognised or well known in thèir figld of specldi8m. Charitable activltlès The Sir Peter Rlgby CharitableTrust makes donations to various charitable causes, primarily to othercharitabl$ organisalh)ns. P163s9 see the notes lo the financial statements for details of some of the organisations supporte(J during the year. THE SIR PETER RIGBY CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 The organisalions predomin*gty SLrpported by The Sir Peter Rigby Charftable Trust during the year had the followng charitable purposes.. the advancement ol edu¢ation. $kills and employrnenl, parttcylarfy for young people from less advantaged background the r¢lief of food poverty A¢hieYements and performance During the y#aT th8 Trust made donations to the followng organisations.. Th• Slr Peter Rlghy Digital Futures Instituto at Aston University The Trustees donated £1.000,000 loAston Universty to fund The Sir Peter Rigby Digrtal FLrtures In5tilule. The institute has been estsblished to accelgrale technological Innovation by bridging the gap bE￿een academic research and industry application. The team at the Institute wll lof)k to transform cutting-edge concepts into real-WOTld solutions, advancing technology al pace. The Inslitul8 has three areas of focus: Al and data science, heakh tech and digital soctety, and gamffi¢ation and game lechnologigs. Funding from The Sir Peter Rigby Charitable Trust has also enabled the Institute lo deliver 1rnpaC￿l and engaging symposia, lectures arnJ a variety ofevents to inspire a¢ademics and businesses to work together. The Sir Peter Rlgby Centre for Ent•rprls• at Llvorpool Unlverslty The Tru51ees committed lo a donation of £1,000. 000 lo Livgrpool Univgrsty to fund The Sir Peter Rigby Centre for EnterpTise. The donation will be paid over three year5 wlh the first inslallm¢nt of £413,000 paid in FY 2025. The Centre has been established lo inspire university stud¢nls to engage and explore various support for thèir entrepreneurial ambitions and to ¢onne¢t student talent with Livèrpool'8 regional business community. Funds from The Sir Peter Rigby Charitable Trust will enable the Centre to provide regular events and workshops. business mentoring, the development of studfynt learning mateTia15. paid intemships, student bursaries and an outreach program lo local secondary schools to inspir¢ pupils to consider studying business at Liverpool University. Flnanclal rnvlew Resgrves policy The circumslanGes of The Sir Poler Rigby Charitable Trust are that the investments held, along with d¢nalions re￿Ived, provide sufficient annual income to meet the objoCtNes of the Trust. As such the Sir Peter Rigby ChaTitable does not have any specific reserves polic￿s. The Statement of Financial Activities for the p8riod is sgt out on page 10 of Ihe financial slatemenls. Income for the year was £4.846.562 12024.. £378.4541 The Sir Peter Rigby Charilabla Trust's main SOUfCé of income is, and is expected to rgmain, donations from SIT Peter Rigby and cornpanies owned by the Rigby Famity. The CIO made donations and grants tolaling £2.302,00812024.. £464,693) to further its charitable objectThl8s, of which the largest donations were £l.000.000 to each Aston Univèrsty 8nfJ Liverpool UniveT5ity supporting the educational objecNves. Overheads which compris&d of sUPPOrt and governance ￿$1S totaled £21,650 {2024'. £45.D36} and costs of raising funds {I￿luding the costs of The SCC Academy Limited) were incurred of£334.934 (2024.. £274.0831. The Sir Peter Rigby Charitable Trust and its subsidiary held cash balan￿5 of £4.076.868 {2024'. £1,425,221) and unrestri¢ted, free reserves of£9.710,784 {2024-. £7.376.1201 at Ime year end. Investment policy The CIO holds a material investment portfolio which is managed by J.P. MoTgan. The Trustees have not yet agreed a fomial inve51menl$ policy. however thi8 Is currenuy being worked on and is èxpected to be approved and ratified in the year ènded 5 April 2026. THE SIR PETER RIGBY CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED S APRIL 2025 Piincipal funding sources The principal funding sources are Slr Peter Rigby, chair, arvl companies owned by the Rigby F7fflity. The Trustees have assessed thè major risks lo whith thg CIO is exposed and are satisfied that systems are In p18ce to rniltgate exposure lo the major risks. Plans for futurg pgriods Sonia ChhaNYal is the Executive Director of the Sir Pelgr Rigby Charitab￿ Trust and Is ro5pon3ible for supporting the Board as they consider how to all¢cate fvrthei funds in the future. As part of these strategic planning discussions, the Trustees have agreed to fund The Sir Peter Rigby Coronation Food Hub In Birmingh8m, facilitated by the charity FaTeshare Midlands. The Trust will donate £2.000.000 over 3 years with the first donation made in the year ending 5 April 2026. The Hub will open in September 2025 and will provide mllions more meals lo people In need across Birningham. In additlon, the Hub will provida a wide range of opportunitios for unemployed people to le8m new skills such a$ catering. food hygi￿e, warehouye manag￿ent and forklft truck driving. Structure. governancè and management The Trustees m*le the deCiS￿n to chaNJe the legal Btabjs of The Sir Pal8r Rtgby Charitable Twst during the y8ar 9nded 5 April 2025. The Sir Peter RhJby Charitable Trust is now constthled as a Charitable Incorporated Organisat￿n ICIO} reg¢tered with Ihg Charity Commission on 16 August 2024. The octmties and assets of the prevbus charitable trust Were Iransfgrrwj to the CIO as a going ¢oncem. and thg accounts h￿e therefore teen prepared en ￿ unintemjpted ccrtnuation basis. Sir Peter R¢gby Charitabte Trust is govemed ty its Foundation Model Constitution dated 16 August 2024. The Trustees *¢I93￿[Y responsiblg forthe govemance and marAgemenl of1he CIO. The Trwlees are re6ponsible for setting strate£•e8 ard pc4icies and ensuring Ihese are imptemented. TheTruslees of the CIO on fomation. who served during the yearand up to the date of signature ofthe financial $&*ements, Y￿re.. Sir P Rigby {Chairl J P Rigby H Wcampion IAFrfJoinled 18 August 2024} (Appointed 16 August 2024} (Appointed 16 August 20241 J A Groves was further 4)p￿nted as Trustee on 26 June 2025. Recruitment and appolntment of new Tru$tees Ngw Trustees can be appointed by the existing Trustees durtng Iheirjoinl lrfetime, and by the survNor of the settlors during the remainder of hi8 or heT lifetime. There must be al le&stthree charty Trustees. If the number falls below this minimum, the remaining Tru$tee or Trustees may act only to call a meeting of the charity Trustees. Dr appoint a new charity Trustee. Ther& 15 no M￿muM number of Charity Trustee8 that may b9 appointed lo the CIO. Oryinisational structure The Trusteas and the Executive Director oversee all financlal transactions that o¢¢ur during the year. THE SIR PETER RIGBY CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Inductlon and training of new Truste8$ Duo to the $lmple nature of the CIO, no formal Induction or training of the Trust99$ 1$ da8m¢d necessary. However in such ￿Stanc•S as requlred the Trustees receive professionBI admce as they deem lo be required. Rlsk management The Trustees have a duty to identfy and revlewthe rfsks lowhich the CIO is exposed and lo ¢nsure appropriate controls are in place to provide reasonable assurance agalnsl fraud and error. Tho primary income source of The Sir Peter Rigby ChaTitablo TFUSt are donations r•c¢N¢d either direct from Sir Peter Rigby or from companies owned by the Rigby Farnily. The Sir Peter Rigby Charitable Trust is currently bLtilding up reserves so that il will be able lo generate suffi¢i¢nl Inveslm¢nl income lo fund charitable activ6ties should. forwhalever reason, Sir Peter Rigby cease to continue lo provido such donation5 in the future. Tho Sir Peter Rigby Charitable Tntst invests cash in recognised banking institutions to mitigate ffiTranc￿ rfsk. Statement of Trustees. responslblllbes The Trustees are responsible for preparing Trust￿s. Report and the financial statements in a¢cordan¢e th applicable law and United Kingdom Accounting Stsndard3 (United Kingdom Generally Accépted Acctsunling Practieel. The18w applicab￿ lo tharities in England and Wales requires the Trustees to prèpare financial slalemgnts for each financial yearwhich give a true and fair vtgw of the stale of affairs of the CIO and of the incoming resources and application of resources of the CIO for that year. In preparing these finan¢ial statements. the Trustegs are required to.. - select suitabk a¢counlin9 pollcles and then apply them consistently- - obwve the method8 and principles in the Charili8s SORP., - makejudgemenls and èstimates Ihatare reasonable and prudent. stat9 whether applicable accounting st8ndardg have been followed, subject to any malerfal departures disclosed and explained in the financlal 8tatements.' and - prepare the financial statements on the going concem basis unless inappropriate to presume that the CIO 11 continue in operation. The Trustees are responsbi le for keeping sufficient accounting records that discbse with reasonable a￿uraCY at any limg the financial PO$Tbon of the CIO and enablethem lo ensure that the financial statements cornpty with the CharilEs Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the tfust deed. They are al#0 responsible for safeguarding the assets ofthe CIO and hence for taking reasonable stsps for thé prevention and detection of fraud and other irregulartties. The Trustees, report wa8 approved by the Board of Trustees on...... behatf by.. and slgned on their SirP Chalr of Trustees THE SIR PETER RIGBY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE SIR PEfER RIGBY CHARITABLE TRUST Opinlon We have audited the financial statements of The SY Peter Rigby Charitable Trust (farner￿ Rigby Found Ohe 'CIO'} and its subsidiary {Ihg 'group'l for the year ended 5 April 2025 which comprtse the Cunsolid statem8nt ol Financial Actiwties, the Consolidated Balance She&t, the Trust Balance Sheet. the Consolidated Stslemenl of Cash Flows and the related notes. including a summary of significant accounting policies. The finan¢i¥l reporting framework that has been applEd in their preparation is applicable law and United Kingdom Aecounling Standards, induding Financial Reporting Standard 102 'Th8 Flnènclal Rèporftng Standard applicablg In thg UKand RepUbr￿ of Imland. (United Ktngdom Generalty Acceptgd Accounting PraCt￿e). In our opinion, Ihe financial stal&m$nls.' give a tru¢ and fair view of the stale of thè group and the CIO'S affairs as al S April 2025 and of fts in¢oming resources and appI￿atIon of resources. including its income and expenditure forthe yearlhèn ended.. have béon properly propared in ac￿rdanCe wrfh United lfjngdom Generally Accepted Accounting Practice." and have been prep8red in accordance with the requirements ofthe Charities Act 2011. Basis for opinion We conduded our audlt In accordance th Intem81tonal Standards on Aud￿ng (UK) IISAS (UKII 3￿j appficabl6 law. Our rèsponsibilities undeilhose 51andards are further described in theAudiiorfs responslbilthes forlhe audi( of thefinancial slalements seth.on of our report. We are independent ofthe group and the Clo in accordancewlh the ethical requirements that are relevant to our audit of the finanaal statements in the UK, including the FRC'S Ethical Standard, and we havg fu￿116￿ ourother ethical responsibilrties w) accordan￿ wrth these re¢wirements. Vve believe that the audfÉ ev￿enCe we have obtained is sufficignt an¢J appTOPriate lo promde a basis for OUT opinion. Con¢lu$ions Telatlng to golng eoncem In aud￿ng the financial statements. we have concluded that the Trustee5' use of the go¥ig concem ba5i% of counting in thè preparation of the financial Blatements is appropriat8. Based on the work we have perfomifjd. w¢ h8vo not idenlified any material Un￿rtaInlieS relating lo events or conditKJns that, Individually or collective￿, rnay cast signfficanl doubl on the CIO'S a)ilty lo conth.nue as a going concern for a period of at least ts¥efve months from when the financial statements are authuised for issue. Otff respon5bililEs and the re¥ponsbi ilthes of the Trustees with to g)ing concern are descnbed in the relevant seCtI￿S of this report Other Infomiailon The other information comprises the inf0m1at￿n Induded in the aTrnual repcrtother than the finana818latements and our auditorfs repOrtthe￿Qn. The Tru51ees are responsbi le for the other Informal￿n contained wthin the annual reporL Our opinion on thefinancwl statements does cover the other infomwtKsn and we do not expres5 any fomi of a$surar￿e condusion thereDn. Our responsibilty lo read the othér inf¢mation and, in doing so, con5ideTwhetharlhe other nfomiation is materialty in¢onsislenlwith the finan￿￿ 51atemenls or our kn￿￿edge obtaned in the ¢wrse of the audit, or otherwse appears to be materially misstal8d. Ifwo idgntify such material inconsistencies or4p8rent material misstalernenls, we are required lo deterffyne whetherthis gives risg to 0 materid mi5Stalemenl in the financBI statements themselves. Ir. based on the work wa have perf0M￿d, we condude that there is a m*erTat rni55tatement of this cthèr informati￿, wo are rg4uired lo reportthat fxL We have nothiryJ to report in this regard. THE SIR PETER RIGBY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF RIGBY FOUNDATION MatteTr on whleh we are required to report by exc•ption We have nothing to rgport in re8pect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requlre u510 report lo y¢w ff, in our opinB)n'. the informalicffl gNen in Ih8financial statements is inconsistent in any material respect wlh theTruste8S' report.. or sufficient accountlng records have not been kept.. or the parent chèritable company's ffnanGial stalern$nts are not in agreement wlh the accounling T￿ordS.. or we have not receivad all the Infcqmati¢m and expl8n8tlon8 we require farour o(Kirf. Responslbilltlas of Trustees As explained mre fvlly in the statement of Truslee5' responsibilities, th& Twstees are responsible for the preparation of the financial statements and for b￿ng Satisfi￿ that thgy give a true and fair view, and for such internal ￿ntrol as the Trustees delemiine is necessary to enable the preparatKsn of financial statements that are frègfrom material misslalemenl, whether due to fraud orerror. In preparing the financial statements, th$ Trustees are responsible f¢r assessing th$ CIO'S abilty to continue as a going concern. disclosing, as applicable, matters related to going concem and using the gong ￿nCern basis of accounting unle55 the Trustees either intend to liquidate the charitable ccrnpany or lo ce&8e operations. or have no realistic afternative but lo do s Audltofs responslbllitie5 forthe audit of the financial statements We have been oppoinled as auditor under section 144 of the Charities Act 2011 and in accordance with the Ad 8nd re￿vant regul*icms made cff hawng ¢ffe¢t thereunder. Our objeclw4 are lo Obta￿ reasonable assurance about whèther the financial statements as a whole are fre& frcffl materkql misslalement, vwhetherduelo fraud or èrror, and lo issue an audilorfs reportthal includ85 our opinion. Reasonable assurance 18 a high level of assurance but is not a guarantee that an audit conduded in a¢¢ordance th ISAS IUIQ will atrlays detect a material misstatement when it exists. Misstatements can ari￿ from fraud or errorand are considered material if, indN[dual￿ or in the aggregate. they could reasonab￿ beexp8Cted to influence the economic decislon5 of users taken on the basis of these fin8nrial statements. Irregularities, including fraud. are ins&n¢es of nonrfompliance with laws and regulatior￿. We design procedures in line with our responsibil￿e$, ouilined above, lo detect matérial misstatements in respect of irregularities, including fraud. Th¢ extent to which our procedures are capable of d¢te¢ting Irregularities, including fraud, is detsiled below. Based on our understanding of the CIO, we Klenlrfied the principal risk8 of nonJy, in a¢¢ordance with part 4 of the Charities (Accounts and Reports) R$9ulations 2008. Ourauditworf( has been undertaken solh*wemKJht$tslelclh$ ¢harity3 Trust•¥s those matteTS we are required to slate lo them in an auditors. rgport and for no other purpos& To the fUl￿st extent pemitted by law, we do not accept or assumè resp¢)n5ibilty to anyone oth¢r than the charty and the charty's Trustses as a body. for¢)ur audi(work, forthis Feprt orforthe opinijns we havefoThed. Colm M¢Grory FCA IS&nior Statutory Auditor) for and on behalf of Ornierod Rutter Llmlted l&/ii /iC Chartered Accountants ststutory Audttor Omerod Ruiter knmited Chartered Accountants The Oakley lfjddemiinsler R¢*d Drothch Worcestershire WR9 9AY Ormerod Rutter LimW18 dTgft)b for 4yoinlrnonl as aUd￿Or of the CIO by vlrtue of its efvJibilty for8Fpomtmenl as auditorof a company under 1212 of the Coryanies Act 2006. THE SIR PETER RIGBY CHARITABLE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2025 Notes Unrestrlctgd fund5 2025 Unrestrlcted fund5 2024 Total 2025 Total 2024 Inco Donations and grants Investments other incorne 4.546.100 105,101 195.361 4,546,100 105,101 195,361 110,000 198,454 70,000 110,000 19e.454 70.000 Total Income 4.846,562 4.846,%2 378.454 378.454 endituro on: Raising funds Chaiitable activities 334,934 2,323,658 334,934 2.323,658 274,083 545,308 274,083 545,308 Total expendltu 2,658.592 2,658,592 819,391 819,391 Not lexpenditurell In¢ome before net galn$ on investm8nts 2,187,970 2,187.970 {440,937} (440.93n Net gains on investments 12 146,674 148,674 383.553 363,553 Net lexpendituro)I Incomel Net movement In fund5 2.334.644 2,334,644 77,3841 177,3841 R¢con¢illatlon of funds: Totsl fund$ brought forward 7.376,120 7.376.120 7.453,504 7,453.504 Total funds carrled forward 9,710,764 9,710.764 7,376,120 7,876.120 The Consolidated Statement of Financial Activ(fies includgs all gawi$ and10sses rwnised In the year. All incomo and expandituTe derNe from continuing activities. 10 THE SIR PETER RIGBY CHARITABLE TRUST CONSOLIDATED BALANCE SHEET AS A T5 APRIL 2025 2025 2024 Notes Current assets Investments Debtors Ga8h al bank and in hand 12 13 6,174,170 91,849 4078,868 10,342.886 5,986,140 7.793 1425.221 7,419,154 Credltors: amounts falllng duè wlthln one year 14 63 122 Net eurrenl assets 9 710.764 7.37S 120 Charity funds Unr¢stri¢ted funds 9.710.764 7376 120 Total funds 9,710,7f4 7.376.120 The finar￿￿1 statements were approv&J by the Trustees on .17Fal￿￿bltt £uL behalf by: and signed on thelr SirP air of Trustees 11 THE SIR PETER RIGBY CHARITABLE TRUST TRUST BALANCE SHEET AS AT5APRIL 2025 2025 2024 Notes Current assets Investments D8bt¢)rs Cash al bank and in hand 12 13 6,174,170 75,311 4 045,657 10,295.138 5,986,140 2,045 1,404,012 7,392,197 Cr•dltOf5: amounts falllng due within one year 14 592.700 16.086 Net current assets 9 702.438 7376111 Charlty funds Unreslri¢ted funds 9.702.438 7.376111 Total funds 9 702.438 7.376 111 The financial s&￿ements were approved by the Trustges on by.. and signed on their behaK SlrPRi Chair of Tru$le¢s 12 THE SIR PETER RIGBY CHARITABLE TRUST CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 5 APRIL 2025 Notes 2025 2024 Cash flows from operating actlvltles Cash generated from l (used In} oper*lons 18 2,587,902 1,340,603 Cash flows from invasting actlvlttes Puichase of investments Proceeds from $alo of investments Movement in cash held for Investm￿t$ Investment income rewe