Ch¢rlty number.. 215556
Th¢ knstltute of QvorTylng Èéftevolent Fund
TI-USTees' Report ond Finonciol Slolemenis
fof Ihe Yeai Eoded 310ec.efflhei" 2024
DAINS
>AuDII

The.)nstltute of Iiu¥rrylng b•novol¢nt!und
Cahtent
a99
Rpference Ohd.Adinlni$tr.otlve Dotulls ot the Ckority. Its Trvstees ond AdYls•rs
TrusEees' Report
tr.uste•s' R¢sponsibilitles StqlerDei)t
Independènt Auditgr* Beport orf th¢ FlnyntEoI StotemeF>fs
St¢4teMont of FlnoFKiril Activtttes
BuIgn￿ Sh¢et
10
Noies Ko.the flrnlndollt¢t¢ments
f-1_20

Th¢ In"stitut•.of Quorrying Benovolent Fund
Rof¢reNee uridAdmtri istr•tWp DwuIL8.of the"Charit¥. Its Trusseès and Advk¥er5
For ihè"V.èar EndÈd.31 Deéèmber 2024
Yrustses.
Poul George Collodine, (b0tr..f!￿19rted 20 Sep¢mber?o24)
John 14lcGough, Deputy Cholr
WÉviEn Rus6ell. Ek Prèsld&nfof the thstilUt¢ oF..Q"b(Irtying
.8enWillloms Chgirmonnnd Pre51dent ol thplnsY¥Ute.ol QuarrySTrg
Russèii Dowd MawryTreosvrer
jan￿ Thorne
Kenneth John.Brudley
Brion Wiltshltre
.NigèlNoriorT
Tyrorie.Partridgè
Lou4seV¢tr41&'Secfettsiy
Liati'gau4ders IL)ppthntètJ 20Septert>èr2024y
Chorify tog¢stereil ll￿M￿er 2F3586
IDdpul offioe
otl¢¥iolsione CeDire
"P4?rtN lo￿￿.
Witksworth
DF4 ILS
Welfore Offitsr.
W Zabiodd
.ifidepentlènt dtsdlt¢r£
alrts pjjdil Limlte¢S
l Etrurta OlllcÈ Vllltyje
. F.orge.i4ne
stoke ortTretst
StaNordsNre
sn 5FSQ
ank.ers
Upyds Bonk
.12-16 Pts(Ilomentst¢&t
Nottinghorn
NGI JI)A
Scilidtors
.Sh*stsxqre
20 kjewwolk
Lficesler
LEI 61.X
PxYde.7

Th• Instllvte ¢f Qvorr.Wng Uenqvolent Fvnkl
Txvsreeg Rvp¢Jrt
kor the Y•or Éndqd31 De¢eintrer 2024
The TrusleÈs pré5tni'tlieir oanuol ieport ioyother K¢fh'th£.Qudtted. IiwnElul 4at¢roents'oi the.Chority lor the yeor I
Januow 2024 ttr61 Dgc.pmtrRr 2G24:
'QkthEtlves ljnd rfctltritle¥
4. Oolltl&s i)nd oblectives"
'In setbng obtedives plothino for uthitles, Ihe.Tiuatètg hove gP0¢ry cons}detcthon tts genercl gts4Sanc•_
publlshed.by chorlyy cornnsssbn ¥gltstOg io pubfic tenept Or￿ In pothcblar Jo 115 supplerrientory pvbilc"bèneflt
gthdarce prevention QnL* relref or.p0￿enYfj0rt￿È public benefh.
Tfje ebjeci ot'The InsofLffe of Quwrylng Benev¢le.ff kLnd ¢IQBP}'IS ttr oIForé o5515iOPC2 to ￿ete$s1t0￿$ Members..'or
rormer or ihelr detsÈn¢ants (the 8ènèflelpdesl by m¢ans o! gwts. loons nr Oth¢trk￿s.P,
."b. ACtI￿11e$ undert4ken io ¥Jthieve gbs<¢tFVèS
The TrrJSTees.dwuus ep.sure.thot Ihe eCt￿lIsES ihe CThar."rty are In I￿ tiur th,OrltC4blE Dblects on¢J 01m5. our.alm Is
ro"05*5t TrÉnibErs,•.ryEmI5érs ond tbelr de*endant5 who,'p.'e sulfe'rfw fi'nort¢ktl dilfKulries
E£Td) lJeielicNryo.ts-onloded on a regulur kn&'s oy lhe.welt0￿ offSTrr of IQBF v¢ho IF o ca￿., by profess10
the yeortheCli(¥ltu rritjde gro1)￿t￿tour￿e￿eIIclcr1ès"(to25- 5evenJ whkh tgtolled £15.144 Q2023- f2e.892)-
AthlevEftTent$ ond"perfoimance
p. achièv*theh¥s t)f I￿.(h"or1*Y
The. knanevolÉnt fvnd achI2￿d rill.11$ *bTrcMves of piwdlng 12nondg1 wsslstpoce to nEctrs¥Vov5 ￿Mbeff> or famef
nembers of The trsfftute of Quti#ldlng.o¢ ihelr de5)tndont$.
Finoncitsl rèvlew
Going cotKem
Aker moklrKJ opptop.rint¢ enquirfeg, tha TnJ5tees. htyve tr reosenoble. expectollon thot Ihth Chortty ccYeqiot*
resourc￿￿t0 cotith￿£ tii o¢'?votltinol existent? l(Y Ihe fpréseeoblaftr4vrè. For thi{ reg50n..Ihey rontSrsue.to,orlopl th#
99IThg L)osLs In pre￿￿rig ihe finu.qdol stotEmèr)tg.
urther tteroilÈ regarding Iho ¢d?pth)n èf the ocAng concerr
toss tse foynd Irt-.￿E occcontlrno ptrllci
b. Rosgrves pollcy
The 1é￿tI i>f Ipseives héldut 31 QettthbeT 2924￿17￿￿￿1 to£1.721.905 P02>. 0.190,636).
'The resÈ-rkÈs ore reqblred ifjprovid&revenuetor gronts to necesslYGVS fj)embers.or foim.ErrnÈmbers.0f Th- Institute ol
Qwrryirw in otci)raonce Ibe.oÈjefliveg of the iig. DLJrJnO the year ended 31 Qecert¢Er 2024 benewolenl
moJe buthe ChgrfWtOto',led £25.144 É2023- £28R92).

Ih8 In8tltuts'.gf'Quor¥ulnp behe¥olèrt Fvnd
Tiu$toe$'.R¢pwt {￿1￿[￿Utd)
For thè.Yetsr'8nded 310¢cithb.ér.2024
R¢view ol flnunoul positlon
The net.s*Jlplus fai Ihe tJgrFod eAdÉd >1 2024 rJmounted'to£3J.267 Q025 . 08.57n atier occDuntlr£ forl
movement kn the volue of.the ￿VestMentS
.Structur4 gov•rrtan¢e (tnd munag*m¢nt
.a Coostltufio
The Chorlty..k.uovemed bu ￿$(OnsI[LUÉ]an possed.oi Th* IpstitArte of QuarryiiiwAGM on 4.Otrtobw- 2007 os omended.ot
Iht IQBFA6tr4 Oti 15 r)eÉember.2014..
.{QBF ope¥pte£ vndpr the dlrectrlon of tt5 Commfttee. of Trusrees. The .qGrivltÈ5 of the Comrhlttee of T'¢LiltsPS ore
'.goKemt&bg !h&conllitulion ol IQBF.
b, fvleillods oiappolntm¢nror el8ciion r¢f Trurt¢¢s
TrthEioes or£ sèSè¢téd on Ihè bosts of thetr experten.ce tsrd.thè coDtrlbutign thwJ or¢ eJbl8 to moke.to the work ol thÈ
Insiitott Ti)e4. ore Issued WEth o oyidDnce note I￿bIch..￿et￿l¥ oll the. dyties ￿Sp.0￿￿E￿slit￿ bt'.th Twstet ctf a
Stér￿.c1drIIU.
Th¢ Cotrm((tR<of'Tru¥¢e*LS compOs¢¢ ol tile foll(*¢in¥..
Six. Hcnoraru trusit8s wtso thol!¢oENprlse P.re5Ident, CJwjnTon (y)d Treosvrersor thejlme bel￿9.￿ The'lnsfjttsts
one th& Chalrmgn on¢.[)ep￿￿ ChairmfJn !01 tb.e 1tffte tleing of'.the:Q)mmlitee of Tr￿Slee5 vncl the ￿eCretOr￿ sboll
ba ii)é Setieto*kf.rr'Treo5urei frt tlié tyme kneiDg ol Thé Instllvtt, or su¢h. olher persLbn whp) is consKlered bo the
to L)e.fit ond propert.0 the dulle&
Foul Ortyriory Tr￿teeS'whts Sh￿11 be hk>¥rdTltitéd bu the Botirij (jf The IrisrfYii!e. Trustees sh"o￿la P.e-
rrien)b8rs"of ihe Bocrd or.Coundl of Thè Insllt¥l& A. mutirnum o*.tiKci Trtsiiees iiigy be., {u)' former rriemL7ers.of the
Bo(FTd or the Counclt of T.￿ts Inslltutq'orib) s.vth oilwr p.efSOD.SOS.rnoy be opproved.bu 1h¢ Goo￿￿.0f"Thtt Instt1vl&
Two Èfonch #¢p¢esentoYNè Frustèe
Dis£losvte of Inf¢N¥)otloA t47'aurlltors
Eoth.oiih? pettst)ri¥ wlio.are Tru5tpestsi tkie'lrTE thtrn.thi>Trust8eg R￿rt is ooprovèd h05 confirrned thot.,
Se forus thut Trugiee 1svwgrk,.there i¥ ￿￿￿e1￿￿oI aL￿>t inforniotlon'i)iiW￿lth thg-thorbw's Lu¢litor£"Jr# unpwor
nd
.th¢rt TFvstee h05 1aken oll the.sleps ihtyt ought to htsve b.een lJken a5 0 Trustee in older fo be tswore of iiny
r¢1Èvohr.o￿rttt lfjformufjon qnd to esiutA151ihuiihe chor51YS UULfitors<sre owqiB¢Jftydc informowpn.
Approved by o¢des.of memb&rs of 1he.boord.i)f Tr.u*teesorKt si&ned Oh +heSr.'behoff b.w
.Beri.Wlllitsm$
"U)uir
Jpl*A M¢6ou9
Deputy Cliuir
2f Se 7oiJ-
Pog¢5.

The Ihs!hvt¢ of B¢newl8llt Fund
Stoteh*nt of Trb¥tees'Y?spoJslbflttles.
F¢r th¢Yeor EftdÈd J D*eèMbe¢ 2C424
The.'Trvstees ore. rèspoD%ble for..pYepurffts the Trustees, Beport ond the finonclol stoterneiits irf occvfd(￿£è.
opplcoble low Unlreoxl￿d9rn Accountln9'St¢lnduTds{United KlnP4dom Genefoily.Ac.ceWer5Ac*éun%ing Proc¥iceJ
rhè law ￿p￿rea￿t to ch(*S1ies Eri Ènglond S Woltsts reovlre5"￿le Truthes to prepore finonclol stolerrieDts for eoch
flnonclol.yéur w4ich.giTle r Iryp 04d fdr view ol the state of oÈFolrs of the Chu¥tty nno o! lis incoming resources wd
opplie¢Ju¢)n of reBources. InCIbd￿)g ￿S ntort* (th exptrnditurq for ihof ￿tIo￿..14 pyeporfing these finonool ¥4Qtenient%
Ih&T'wsiees ore'requiiedjo.,
ecr sutio{￿e accouming pollcips and ihen applu thpm"ctin￿stently..
obsè.'ve the mèthads tind prMcTplegot the Chjrities sokp(FRS 1031.
m¢keludgments.und..uGcountirig estimotéslhdt gre r£tt$Dnoble.und iyijdeni:.
stote wheiher a?￿:,CObIe UK Accourning Stondords IFRS 1021 been" foliow?d.' *i)Jèci. to orfy m#feriol
dsporiufes d5ciusedtsrFd explvii)edlfjihe.TrnuNdd statemeots.
prepore the flp.anciol stotèffieota on tht golng con¢ern basts unltsss. rft Is inapprL)prthe to presum8 tha¥."thg
choylty.wll contlnu¥ln
7he ": ruslees gre responsible lor keepmo ode4vcrte qE¢¢kn*ty"recorAa thot are'$TJllioent t? $lwi d*loln ttfa
Chorills itonsoclthi$ ond tl"5clo5e w￿h fe08oaub￿ ¢c￿ratU ty¥ pny rin)8 thp finodclol. posirf¢)n ol the Clioriw ancj
épckle 10 ensvre llitit the fiIwrythgl'51tstementS Gomply wrth Jlè ChorifiÈs..Att 201T. the (Arcovffj5 ond
Fleko.rts) AeoJlttfjons.2008 ond Iho"provi5ions tsf lh¢ T*ust dèèd, Thèy ureul34"respon51b* tor S(tfeuvurdirig1Me"as?èts"
oTiie choyft￿ aDd hence for.lokino fftosonuble slep5 fDrthe pre￿￿￿10r)0nd delectior
of'sruud ond othér irreguloritit&
Au)proved by order of the ffieTY.ber.$ oFihE boord of fiJsr&$ and slgned Ohlts"behDlf by,.
fyer Willl¢Ms
Jphn ￿tCG0Uvh
Depuhi Cholr
Qot¢'.
Puge.4

The 1nstltvte.of QUart￿l￿4,6eri0vO1*￿t Fund
IndeppTrdÈi* Audltors, Repurt to the TruMee¥pf fh&lnltitvt* of.Quarrulng"8¢fit.yolerit.Fvno
Oplnbn
We oud￿e￿.￿he f]nontiol thJtÈit)eThis Df The In5thute of QL*arruFng Sen¢￿￿ent FuDd."Lthe 'cFtsJrlu'ytor the yethr
ended 31 Dkceniber 2074 whlch comprfse tho 51o*ment.of FIAQkK5ts1 Act*vitrltS. the"BalOn￿'s.heetO￿d'I￿¢ related n¢te$.
Inctuding 0 5uirmory Df 5yTrrfi¢ontoecotsntln) poliaes. i.he linrJncYol.retyEiro Iromeworkth?t hos be'en opplled'in Iheir
prepoiou.on Is tsp.plicobtrE L)nd Untied Kngdom Accounting Stthlrsr¢ts. I0dLMli￿9 Rnontid AepOrW￿ siaftd¢r4 102
The Fiocincitsl R¢porfmg.Stondotd opp15colJe kn the LJK.PJ(J R*publl& 01 tr¢￿rro1 (UniTrJ.KWdboi Generolly AGCéPte41
>Lcoth)iing Èroctsctr)".,
In guropinlon'rhé finon¢vJl &tdtemèm¥.
glve u true und folr I4Èw o¥ the siote of thè ctic*rllWsoffrFlrs.as ot71 Oe¢¥mbef 2024.on&of rts Inttorring resour¢ts.
und"gppllcotion ol.resouTce51or'ihe uearthen ended,,
hoye baeD piopwly prepo.r¢d InLtrorrlon¢e.wr£h'Uratei¥ Kmgdom G&nerally AcceptBd Accoitnttrw PTocrlE>.ond
h0VetJee￿ preporèd iiLocciJrdoOceMfjib the Fe4L*lrem¢nls.of the..Cho(tiies Act 201?:
8osi*forqYnlon
e cr)nducted.oor aurfil In occi¥dan¢e imlh" Intwo¢tiortil StotTdorf4s' Audibng (UK) IISAS (VIO). dnd thpplkakle knw.
Q.uk respOn￿bi15t￿es Lmcler those 51ondordg.tsre £uitber descrfbed in the Audilor5' te5ponsi￿.￿1ie5 for the oudil of the.
1lmr¥di￿ siaiements seal0￿ .of rtrpg￿ Wt ltid&pen(le￿, ol the.tharfti4 In nccor¢once whh the'.ethical
r.eqoYgments thoi arè rd&vont"ta ovr ovdll of the ffnoMch?i Stolerménis irt¢hè Un>tèd KIngdc￿￿. knduthn¥ the Flnoldul
1grtlng.CèJncl s EtliSeaf St¢nrtthfd onij we h¢￿e luiiiièd our. other è1hicol res￿n￿bIlitIeS In'occo£Elu*ce vjlth thèse
rÈwlremertsArf.e kolpve rhof the t2ll￿teVl￿ence.wQ I￿￿& ot)toined istsulficknt and oppropriott io bwil. l¢)r
our
.roryclu*lohs tèlatlng to 4olTrJ.con¢am
Ip audimg.lhe fil￿.nO¢* ￿01￿e¥￿t5, w¢ hqyè con
luded thoiabe Trusteé￿ use ojthe gD¢hg.EorKern bos1$ th occwrrilng
irtffte pYÈpurationtttthèlnonclal stut2menls L5 olprobrtots.
èa tsri lhè.wryk v¢e hcLye perforrrie￿ .wB. hkivt not lthri*lfletJ iny mvY¢rtyl w)certalrf¢$. rpla1iri9 to ev4nts or
ist￿ltE0￿ IhoL'lndMdua ly olÈDlle#.vielu rnD￿. cali sWrfiEvm doubt on the""chorjtAI.$ Objilii to cont5nue a$ u ooing
coneemfor o yrtL¥J..of gt leasttwelye months frbnj whenth¢ fln(inolal BWtorm¢nts orè uVdicrt58dfirks￿.
Our rè4)onsYk￿I1t1ès ond.the r¢spwibililks of the twstéÉ$ Will¢tdspecf to¥ohQ concem.drè de5tr1b4J in thè*èlevont
5¢CtitJns of this.*port".
Pu0¢¥

The In£tltuté Df O￿ar.rYIttg Beiievèlewit
Ind&pendentAudltors.' R?port.to Vi¢ Trusteas (A Thalnstrtyteoy IltKrrylDg B•rtèvol•m Pu!dleMEITru
Othet Inforn¥i?Ilvn
The Olhe'r lrff0rtnobOrt compriseg 1he.irfen￿tr￿n Inc￿{lEd ih'th? ￿nU￿.peporl other IhurfthwffitM)dolstat¢)nentg.aM
OUT Audlrorg Reptirtthereon. Tb¢ fruste¥ are￿esponsibl￿f0rthÈ other Iqfo¥mation conldned withln theATrnuofqeptrt,
Our 0pin1on.on 1he Inoncial st17terneniS does notr cover the oth8T intruff￿0￿0D èxcépt to the..éKtÈffl 4ttepwL8é
plicltly In o>iJrtÈport. WE do i)ot gxi)rafs or¢y forth of 05surartce conc￿440￿ ther¢on, tyJrres[iO￿I￿jI1lYJs t• reod
Ihe athe¢ Infotmatlon and. lth dothg s). co￿1(1er %theiher ih*. other informolitrh is materlolly incontsj5tEnt. wlth fh
flnorfc￿I itotcme￿ts or our kno￿￿E￿9¢ obtolDEd Irf the ¢Ourse of the qiidit. Of Olhertrhle ap.￿ Ty be ￿￿ter.1¢ll¥
ryJ15$1tT,ed, l* we l(lÈn*7y su<*E moterfiol Inc0fiÉ￿en¢￿sOrOPp￿Al rnolcrlql thisStut¢m40ts,we 13re regvlred iod¥kFnine
whetherthis glves l'iseits Q mEEriol M￿St￿leMent."ln the s+otternerftÈ thertrèeiv￿..1f, bosed the work ￿ h6w?
perfoYn)ed. Col) dud¢ thot th¢r¢ is o.moterkJl mt55totemert otths"othw. informtstion. wp oré T¢quI￿d io rEPOrt thdl
fod.
W¢ huvenothlng to ￿port In thls ￿gard.
Mpttets on wblch we or* requked to reporl.by.e¥ceptlDn
We hovp.nothi¥ig to"tewrt Ir YesKlécf of thé folloYAng matters wbere.the Ch)rfiies-(Accotmt¥on(J Report*) kegulatsons
20.08 réoulr¢s tb rer)orrto"¥oJ If, In Outa￿￿]0￿
Ihe Ihformotion glvètt ill the Tru5tÈeg Rèpwl'isincoDstsfent.Ih*ny moter¥Jl respeo.wlth th$ f50￿¢￿1 ￿￿ents..
sufficlent arr)uniinqre¢ords hL)ve not b8ev keptr DF
thÈ finonclai stliteryiEnts cré rjot In ogwienl villh the o¢coufttlng recorda onil rEiumE', O
we have f¥Ot ￿e1Ve￿ 011lhe1nf.orniotloii und wlontstbns we require lor tsJi' 0￿11.
He$ponsiblllll•$ ottrU519¢S
A5 eKplalned mQTe fu14y.in tp* ToL%tees' FlesPon￿bItE1￿es.$t<YIeMerit. th- frvstèe5 dye respvn51ble for tht¥pt2portitlc￿ of
the fina￿KIl stotenenis whirh oivr o twe and.folr view, ¢jnd for such Internol control as the. Trvsteeo deterTVl￿.l$
r.ec8ssory.i.o en¢ble Ihe prepwotion ol"finoncial S￿emen15 th(Jt frèè ft#m.mo!enol m*ioiemenL wtrwber dué tD
fr.oudsor
ltt pr¥poilng tbe Inenclpl stureFHent& the frustees fjre respory&bl& lor assesgln9'ihe' {ho¥iW5 oi1llPy to £OTthnue 08
golng CQiicern, disd0s1r￿, OS rppllcotslo, nfgllet$ ¢ei¢ted'tP 9th-no ¢oncetn und 4he g0!ng b¢)6￿ of
aEcouniing b?le>s YrustÈes eittler Ifflend to Illuidcté thÈ"chorW or its Ca&se opertitlon& or hove no ieatr¥..ic
airÈrnoiivetiut tirdo so.
9096 6

The InsiitUlE of ouorruino BÈrètr¢lent FuDd
In(fep¢ndèntAV"thtor& ft8p.tsrt to.th* rr.wiee$ Of. Thé.InSlltyte'of Quqrryin9 B.enèv.o18rt.'Fund Icontinoedl
4tyJrs' rfospoi)s*iltiéS f¢r the ¢)f th¢.flnoncki siatèhiants
We huve b2ep, appotrrtqd iJs.ovditor ut¥Jer%osiioD"144 pf th9"Cha￿leS A(12011 und report kn occordortcp wlth the A¢t
nd"r¢lev¢nt regulations mode or ￿VIng efle¢i theteunder.
Ou, oblsdlves pre to obTUin'reoEoffp￿Ae ossuronc¢ obtsut wheth?r.Ih¢ finthKbl stolernerns ￿ q %￿h￿Ie ore..free fro. m
FllQtèrtoI inlsg¥GterrièrtÈ. whethRr duF fraud. or error...on& Id Issue on Avdii6r¥ eepowl thol in¢lvd¢s ourf bpldot
ReO$onoble cbssuAAce la o.hloh le￿1 of ossurofice, bui Is rtot 0-9Var(￿Ée thtst.QM oudE coridutied Itl o¢Ctsrd0n￿
1gAs (UK) ￿1[11 olwoysdetett a.rnts1211ol rttytoitemét)t whèn It*¥iSts fyksStoiempr¢$.¢Qnn￿$e from trrjud w errDr'artsdvte
,<.or*Sideretl m¢fftfiul if. Ild￿rdy01lY or In ihe tsggreAalq.Ihey Could re050nobly be. eypèc¢¢d l¥'influe4)c¢.thé ècpn¢m
.d*cts*sn& of users.token on th*P¢)&ts ol the58.*￿￿n¢VjEst0ternents.
Jrrewlarflse& Incluthrg trou4"(Jte insFon¢es of n6n-complMSnTr with lu¥i¥arf¢ rEgvlotion$. We dcsigrt procedii(è# in.lio
ourre$pw4bliitl¥, outfmed obo%È,.to detecr molwlol miEsli2tè￿￿l￿ In respect of irregukjrlties lffc1uding froLtLI, The
.'e*eRt lo wiiitli ovr.Dr￿edU￿e5 Ote'Gopublo of detecting Irreguloriiie5,.lndudl￿ frtsuti1s ¢jet￿￿1 below,
DuroÈpr(>iich tiidehtilutiyo and asse¥sirig tFTbrisks of m¢tenol rnosstoteriient in resi)etr of Ir¥egulorfiie4.Includlng fyoud
noTrcorTpllancE wiily lows ond re9viations,w05Q5folow&
the serfor stciitffory Qud￿r ensijrecf tilut the eftgogèment team collettively hud th.e oppropriote competEnte.
copobi1siies.oiid d¢ills to Ldentlfy or recoynlse non<Dmp1iance Wjihopp.licoble.Iow5qnd rtguliJfKVTr5'.
WÈ Idèntthed éhe lows ond ièoubfjorfs .oppIScab￿ to .Ihe ch¢yY(y',through dlsrussigns.wlth trvsietts and oth2r.
manooed)EnL ond.fKoraour.comrnvrcbl knowleLlgegnd.tkbierience of the.secto
wè ftscused.on SP*Gfftc lows ohd requltitibh&whlch'we tbn*defed moyhoy&o dSre¢t mtellul eflect on the.Iinandql
5tot1rnentr..￿ the ¢)pernti¢ns.of the chkTrity. includin9 finoncio., ftPQ[1kng legidotlotk roxoiio.n le9llofiorn tsni
bT]beYy, emplL¥wenLond eniifonffieMtol'aitd'he(JElh iind.solety ￿91￿(rtIOn.
we n¥es5ed the exte.nt of £ompiionc* w.h thE lows.ond r¢gy10t￿rIs.1￿en111￿ obove thrw.gh Mokino.anoufvty'
mDr￿gernènt.QTr￿ lègol cOrWg￿0ndence". ond
id*nilfied ltsws.artd regulotiDns.WE'fE.fjomriiiJnlcoted wtthlth the ¢¥d(*tedrn ¢eg)Iprly (xod thE tetsm rémoinèd'olert to
11￿t0￿￿e￿O￿p0￿-CDmP1bDntr Ihroughtsut the autht.
e.0S$*￿e£I the 5uscepfbJllty pf the t￿ry￿ty 51fDtsnclJF Ètattyi)pnt& tp Moferiol.r￿fjtarn￿n1. In¢ludno tsbt4iDlno.on
ndersiandlr)9 of Ii¥w froud miohr o¢ctir. bu:
ffjokino'enquiiki gf monogement Ds tawhere they.consdèred there wossustepribiiityto trowl.théii knoW￿d9e￿f
ctuol, oDd oll.e9ed floud: dn
Gon*der1rg1￿ Int￿￿OI.controls h plece.lo rnkl¢ote'rtsks o*lr¢Jud ond noth-cornpliofice wrthlokns ond r.¢gylosj0ns:
-T..o oddr￿St￿É rlsk of frtsud.thr¢u9Nmono9èrnehtbkns.¢thirl ov*rlde &f.contt0￿. i&è,'
wfoATÈd 00a￿tICUl p.rocedur£%tO Identify ony unusu01.wurteyp￿I*d relotion4llp¥",
test¢cllowrnol enlne¥.to ha'entity unv>wl tron5aGtion54
oss¢ssed vil*ther'iUdg￿e1S..ond ossuthpypn￿ n)ade ffj.delermlril￿Y the OCCDun14ri9 e¥iinitstÉs SBt'.ovt Note.3
we￿in¢T1C￿l￿Ie ol poteptitsl b￿$.. ond
'IAvestigolod Ihe KUtlonolekp.hlod s¥nIflVsnt.orunusuo1 worsts¢tltir
Pao¢,?

Th• InytltLlte of QDurrylng 8enewlevt fi)nd
IndependEntAudiE¢rs' Beport tothq Trusteés ¢>f'Tbe Institute vf Ben¢volent Fund'{¢oirtlntseal
response'to Ihe ol'inewlonyies ncTrc(Knpllonte.with low$.aDrJ rpJtslubon8..we de5igried procerltJY0$
¢lvded, bUt￿ere fior Iirftee to.,
gteeing fip.qnclol stotprneni discl¢>sures to underSylng *jp￿rtIn9 documentolon..
reod.rtg the rrMllL'les of rnE*tlryg*¢f those chorged with gover.fjtrTr￿.-
èngvirlp9df r[￿n￿genIent C* IQ ￿lUll1 tsnd.ts￿enbol litlgotion un¢ clnlTn& ond
revlewing ctshasponéErKe'wltr, HMFlC.re￿Vornt re9ulirtor5 !1)e thr!dt4s1.¢goiadv!30rs.
8ecous4 ol thè. lrflereni hrttotlons of .on oudlt'there is o i1*. Ih&t we I￿11 detsct oil Irreguknrlt!•& l-nduding th05¢
odng to fj ¢noleriol Tytisstoidrneni in tliE'firn)ridol thL)Yemenls'or non￿Mpl￿nCe w￿h f4gylctiprt TKis rL8k'inGtètiSE5 IhÈ
more thot compr10￿.e o .'ow or regululion s r.einoved frorn the ewents irtJn¥uriiohs reflècted in the liyondoj
sfoteTh¢wts,"08.wewll è¥less.IN¢ely'to becwe'owurE tjl fnstpnc-s of non'complits￿7ce," Tbe rlak is.o1s0.ureoter re¥tsrdfng
Irre¥uloritl*s due tc froud rothtr,- thon'erior. tis frau¢J Iy¥lves tytethttoriol corfceolment. !o¢.gwu. co11b￿￿ni
@mlssion Dr ￿[$represent(lI1DlL
A further de5crlplion of wr.respongtilltles lor the ovcSi¥ot the *inoncl41 *atèrnEr.tS ts loeutèd on Ihd Finonclol Rer)orting
Coun¢.11.'s wèbsite ét:
. rhi5 descripthon fo(ry¥s ptyi.of our.Avthor¥ Repork
Ustrof our report
Thls report.ls motle solÈly.Ip Ihe charlty'¥1rvsi¢¢s. us a body..In QCCOtdunce wiih.parr 4'.d the'<>wltie> (Accdunts'cnd
Iyti¢n& 20.QI& OL.r tyudil W¢)rk howbeen undertakeA Sg thut wtrmiotrt stote io the chriitty'b.Ir(Jslw those
Répcrts) Re¥u'
maiters w*ore fequired io mie to thèrn irf ort Audit¢r¥ Report ond for ¢kO oiher putpvs¢. T9 the fUll￿teXtent pe(rnitted
law. we do not.tFccept or o$$ume responslbllw to onyone otheF tbuD thè"¢hOliry an￿'￿t5 tnJ51ees::os fJ body. lor.our
OLéYc.V￿rk. for th%r¢port.'orlor the ¥P',fllgn5 we Fwve-formed.
Do￿Tr5 Audit"Lknlted
St(rtUtoftJ'AL￿lttsr
Cho¢èr¢d Accounlahjs
2.Etrvrig"OfFice Wloge
Forge iurie
Stokevn Tr£nl.
Stolford5hire
olns iiudlt Llniiterl are eligiNe'.o uci os oudtors'h tei'FTh5 vf $ection12Y2 OT the Componiès Att2UO&
Poge 8

Thé Instilut¢ ot A"vur:rWtw B'enevoléhl.Fund
"*4tsmtnt.of fina￿t￿OI actIV¥t￿5.
For the Yefjr'¥n4l¢d 31 D&cembèr 2024
VMrgstrFCted
fvnd.s.
2024
fun(15
2024
2(525
Note
In¢oine from."
t)ot¥jtbnsond legacles
InvesfmeHt8
466.
28..1
j.676
è2,4
È.425
oiberlncoffjg
.4676
Total Income
31.243
26.185
E¥p*nth.t￿re.oN:
.Charftoblo ocltillks
.51?7¥
5(782
Total expen471 ure
52.975
52.975
$1781
Net èxpendltuYé.bèfore rtetgtsl￿ on"￿tM￿nts
Net yt)k)g.on IDVvstNents
%*o.na)
<>o.7a2>
¥O.S9n
N*tmovémènt in fimds:
'3J,267'
Rec4n&liotitin of futid¥
Totd lupds.broLKJht.forwtsFd
Nermovern¢m funds
I190.656
tigQ636
31.267
'1.1712S9
Total.lun¢$'corrtÈdTorward
1.221.905
'1,221,YQ5
1190,636
The'stoternenl ol Fin0r￿￿E AcdviMÉS.Ihclvde$ 011 golns iTDdlosse5 f¥coghLgèd intheyeuT,
The.￿t&>On pJge51119 2Q.form pttft'oStbe¥e flnrirtbl stoi*mefjts.
Po9e.9

The Indhvte.of.￿u1ryIftg gett¢Y￿0[￿ Ftind
ils otSi Decembar 1024.
2024
20fJ
Flxbd •s¥et¥
Inyè*rnents
1.48'9.920
1.137,455
t,189.920
1',137.455
'C￿ttent.￿sSe1s
C05h ol bpnk ond hond
31363
.99.,67i
55,671
Credltors.'.omovnts lolNng dub.wl*"hintnoAJe
12.
11490
Wet ¢Llrr¢rb? qsseis
Sl983
5J..181
'Total 1855 twreht Iltiblht￿6
1,a21.9C33
1.190é36
T*xtgl n¢t tsssp*B
1.221,90>
1.19Q.636
Chttrlty Ivhd
.Unresiricted fijhds
13
1..221.903
1.1>0,636
Totol Yunda
1,190.656
Thpflq(3nrbl ¥btements Were.0￿pr9v.ed wthOfiie¥f(y l¥StE by',h8Trv$vaés uné slgtttrd oft ihelt behulf by.,
Ben"Wllllam%
John MtGovg
DpNtu 07olr
Ibe.not￿ on.page¥'l LO.20 lorm'pttrt of ihessflnohclol slo*tpÈnts,
Page'10

The Inétlt￿t* of BenevolEnt'Fund
D*es to the Rnandai Stqiè*7ènts
Far thayeur endel'S1 CSecemb¢r 1024.
G.ersÉrol info(fflob?
Th￿ Ih&tFtvte of QtsDrrylhg 8en¢voknt Fund.In ¢Jn vnincorporo.t.èd ¢egi$terè4 In England.
T4& 4ddress ofiheYÈg&tered pffI￿lS g￿n In the Clioèttu Intr*Emtsiion on pog&l of t￿ser1D￿0(￿OI stqEerynt&
The notLsreof th*ch￿￿Y'S opératbns o)d p"rÈndptsI octlWt￿s ttrè to af13rd asAsi<mce to nece5¥ttfjLL8 MerrJb&rs or.
form21'"M6mbew.ortheir depen(knnts(fhe P*neliÈlbrk5)b¥ Meong'¢lty"fl& letsns or otherrf￿.
AccoUn￿n9 PC5llcl
2.1 knsi& of p.rÈporoiton of finqnei<il.JitsteYrt4klts
'The.finontiol statements IIDvè beeh prEpored In occordonce wkh the CFMtirttres'KTrRP IFRS !Q2)- Atcouniiny
tsftd Rewrting by Chorill￿. Slotemenf ol AecrMM￿dth Proctice opplicoEle ehorttiies-preporlng. theitr
fft'gcC..ord￿￿e thè Finontlpl Heporti% *orydorKS opplicobte in yheUK 0r)d REp￿lI¢￿* Irel¢vd
(FA4 102) feffectlve'1.Jonuow 2019?, Ihe Fihori¢l(Jl Reportln9 Stdndard applcablè.Inthe QP5I R¢pukii¢of
Irelond (￿￿ 102) tind the ChoritEski"2011.
'Th8 firY)Nual 51ultments been prepored to olve o Yrutr. ond:folr' VI&W aDd ho￿￿.deWrte0 l¥¢)m the
Chir.It¥s (A¢ctsurtt8 ond Reppris) Regulpt￿n* 20084)hly iti thé extent reqoirfed to provTde.o 'true tynd.fa!rf
'vlÈw. Th￿ depoftvre ho¥.nItr￿Ved follovijfs thg Charltles SOAP jFf4S 102J publi$hecS IFJ Ocfober..2019 rothor
.thunthe Aeeounllnqood Reportlng by'chprltfes., Stptemerfi gf kectsmrt)ericled PiocficeeFfeubve from 1
2CQ5vthith hos.s1￿￿ wsiharobjn.
The In5tilule of QUarrylng Bonevolenf Fuhd rntets l￿-¢0￿￿$￿0rt of ￿ public b¢nefit'entsty *)nder IQZ
liubllities.ora4niiidly.ree¢gntsed ot.htstorlool cosi.or rrun50Gfknn VGtiJè unkss'$thepwise swtod In
Ibe relevctnt'vttQtsDtlng.poIi
Incomè
Ali Income Ls ieoignlsed.once the c.h￿ltY eDItI￿lletht to.the Incorne. il ptobable thot ihe InC4mE.w￿i
be ￿trIVed ond the otnc>uftt ol Income b& meo5vred rellobly.
the donotÈd ooud Is o fved w$e£'it Is.'rreosured ut fulr volue. It.lS'lrnwgcVcal tO*ieosure'thl$
refvbly, In wh5¢h (use ihe ol th¢ t¢>ihe donof should be used The goin Is recognised os hcomo
from .do00¥￿s ond ts CorrgSp¥on￿nts omount Is iKluded in th¢ oppropritrÉe fixed asset dtss¥ ond..
d.eprec￿1¢4 ov.er the usefijl sX.onoinic lif* In OCGordaiKe wkh 1hè Chotht¥'¥ocqoyntwpDllcie&
Dn recelpt ¢lonated profes*onuI gefyices JfKI facillties ore reto)rased (Jn the b'tssi< of the valve of Ihe gtft
the Chorily whiEh IS thè ottystjnt it wvuld".hove bèen willin9 to poy to. 4bialN sekvices or ftitimttes of
WFVtiient econDrnie bftnelrt on the ooen wrket, CJ c￿re¥st>n￿lng ompunt 1$ 'thÈn. recowi5erl In
e¥penditure In the period of receipt.
o.ther Wtsme l& recow.15ed In the pErlod ift whl¢h kt is'.recelwobie 10 the extent the 4&oas ho¥e tsÈers
Wovide¥ or on ¢omplet1oriof th<'EertrlQ&.
Pq9e11

thè InsiRth of Qu13rry4Tnq8gneYolevl fund
Note$"r#tH¢ Finoridol S:•*¢mehts
.For thè Yeer EndÈd 31 ￿e￿Mber..2Oa4
AGc4wbtiilgpollaes (con￿1￿¢￿]
Expehditvre 5s.recogn￿ed Orfce ffierei$ o leaal Or"é04'11ruCt￿e.Qbjl00iSjn to trgllsfèr ecgncFrlc benefit tv ¢J
third ooriy. *t Is probu￿2 thL4t o tron5ter ol econamie bEnpli&wal be requlred in seti5went.oDd the orw¥nt.
oitPo ob'.igollpn be meusured relioblu. ExpendilLire ts Clos￿fIEd b4.¢ttivltg, The C￿1$ of atti￿ty
ure rnode up ol the:.total of dre¢.r costs bn(I shtyed costs.. Incltscllng Sup￿￿t ¢Q5ts Involved.￿ Vnrktto￿ry
èach otllvltQ. DJr¢Et toÈts olLributobk.+oo sln9ae vaivily orè.ollocat￿ ￿l￿tilY.￿Q IhoY.tscffivily. shored cosls
icPrconlotiute lo more thon one ond ¥rpport cost$ whi¢1 nrenot thtr1￿10bIe=O o sin9Ee acti￿tU
ejre opportio!￿￿ bets¥een thase ocilvTbe5 ¢)n a'b051S..COn9iStent WTrlh th&'use.ot r<%ources. G¢ntr.gl'syff costs
are d OCG"Lerl vri the.bosis af tlmÈ spent,'ond <epre¢iatlvri chor.ge$ cllocnt8d Dri th& porNoo ol osset,
-wenditur2 on ehorftotrAè oclrikties. is.liicurfFd on (Ire¢tly undertoklng the Q¢ilYiles whlÉh 'lv(Iher.liitr
C*oritys obl¢¢t￿l ei. 0$ well.os ¢i¥J ossodtyecj svpporl E05t*
.￿1 experndtture iS.InduslvE of Irrecoveroblè VAT.
2.4 Interétt receltrobl¢
Interf*sr.on fvnds held'pD deposlt Is lodvd¢dwhey receFvoble cHid the onoun* coTr be me0sl￿Ed.re1lobJY
the.O)Qflty.' thps Is Aonrdly up0? IptthEL)tion of the interest F(Tld ur ptsyoble.by Ihe Irjstttuiion wlth lkn.orn ihe.
2.5 Tu%ritk)
The Choriu ts Corks￿￿￿(* to"PCF5s'1he tésts sèt ovt in Pomgroph 7 Schedul¢.6 of the Finurterf 1010.omd
thBrelor.e.it"rTieets Ihe deFlri',tiop. ol q tharltoblewmFiOny fuf UK.¢orptsrotlon to* PUfPQ5& 4ccordirigl4. the
Oiarity is Potentttslly e%empi fri>m taxatrfjn in respect'of Incamè or ￿￿tal gtJin5 r¢ceived wiihh£oi¢g¥rt¢s
oyered #y CPiopier 3.Po¢ 11 of ihe Ctsporotbn Tox Att ?OjO or SèCtk)n 25th cl rhe TaKotion DI Chorgeotylg
Gui.n$ A¢: 7992, lo1￿.e extent.tbot such Inc4me gff go￿5.0re Y￿41ed ex￿￿0Ve￿j to chDr*abl¢ purposes.
2..6 irn¥q$tm¥n*4
FiKed oket inve4tmeoiS i?re.o form pf financial InstnrrlEDt E5rid ure inltnully recounlged ot Lfiel¢ tfpiso¢tloh
Cost OEYI svbstwen',ly w.èosured (It. Iclr value ot the Eolap.ee Sheet dete. unlw tl*, v￿1Ve cr*nnot.be
metsÉvred relfobl4 In which ruse it is rreosured ot cost ￿$$. MpaFrrThent. Investment galfjt Iwses,"
¥vhether Yeo115ed or vnreollsed. cfts comTrined ond prèswled us 'GJl45/(Losse4 on Investments. In th8
5iOterriert of rinonciol Aclivltles.
1.7 C05h vt bonk and In harnd
'Crish tst b4Jnk ond In hond Inclvdes c05b oryd sPiOrt4erm hlohlu liquKI Investments ￿th o shcrt motumty o
reemonths.or kss fr¢m I*E dale of ￿e¢lU15￿1 Kjn or. opening of the £4epo*l orsthilor ttcovnt,"
Pagp 12

.Th¢ Inatit￿lIk￿l QuarKwi)v.Benevpl*Qt Fund
NoX*$.to ih? lrionclal 51qtem¢frt6
*or the.Y.eur Ended310eeembér 202+
c*Wngpoll&#"(coriil1)ued?
2A ond pr4vlslriri$
LÈo.tspSliles ore recognts6d wheTr ttrpre j5-an cibligotlon,ot the Bolonce Sh¢ot dote 05 v ￿Ult o! o pastevent. it
ts prDb?ble iho¢ a tYarLsfer of eco0(x￿￿¢ b.efftlM will b& requirqd s-tilerntnt. grd the owu¥)I 'of ih¥
setmèment con beegtlmoted rèliobl¥.
UobSfjtlèS 1¥8 recogNlseLI ot trEe"amount that. Ihe Chllrltu gnwtlpote5 51 %¥tll poli to the debt Ihe
.orntiuni ItliD& r£cetveEI os o*ioftced payments.I￿.the goovsor seyvices It musi prodd
PrIvi￿OnS tye m¥tssured.ot the.'be51 e5fim¢te. of.th¢.VTYwnt5 ￿rJu￿r& setdpthe.cOi*oiloA Where tle
fett of th8tlm?.voluè.of mortey'lFmoteriol.the provlw¢n 1$ bosed the pJeser)I vtslue 01 thosk omovF5ts
15gounied. oi tPfè*re-tox diEcount'rote IhDi refletts the ri1k5￿pe(lfWc,.1O.t￿a nbblhty. The vnwLnthAg of the
discount Isrecogntsed In the Statement Df FinnÈ)d(rt.AEtMtle5 a5 u finoDtyeOSL
2& Fhign"do'l instru￿￿)$&
The Chtsrky '.onlu hus fifionool llssats .fhortrtrJl Ilob111tles of o k￿cl tthot quotif￿ a5. buslc fin&nciFJI
InslturFeDts. Possc. fiA#rtcloS instruments fjrÈ Ènltlo21y recognf5ed ot Itrnsoctlon voluè llnd subsequently
me0s￿re¢ thèir 5ettlemehl vobJe wmh.the &teptloh Of bpntr loons wh￿b ore $Yb$￿￿entiy Inetssured )*
¢JmortLged cosi th¢ ¢tfe¢.Tve.fnferest rn¢tfr￿d.
1.10 Fkliid ¢ccounthlg
'.G2Aerd funds ore uorestricrBd lunds which afE avoiloblè lor.uÈe nt. thè clstretaori of Ihe Iru$t8es in
furttseroncp c)i .the. generol objectives of ihe Cbwty wh1th hove "noi been éesignoted lor other
vrp06g&
Investm¢ftt Incomo goins ond bsse5 ale tothe atsw0pr￿tèfUrtd.
CihkolaxtsO*KinÉl estim(stes"ohd 4r¢ds.of.judgm¢ttt
Esiithcws. artd.ludgrrents 9￿ contlnvolly"&Volvatsd.4Jn￿.q1'È bosed on hlstorwl Ewerlencè ord tsiher foc1￿$
Incltsding expectatlQTYs of fvkn*re'wents That.ar¢￿Ile￿£¢ to..b.2reo¥tmbblp LSriderth8,drcumstuntsÈ.
triy¢d occountlnq eÈtrtts.'tsrid cwvmprbns,
Thè Chwlly nlokes eStkn￿eS und os5Vry>tion5 ¢oncerMlig..thè ffutvre. Th¢ re4iJltlr)g accountlng £>limotes ond
ssumplions will..bulefiniilon,seldorn e4uol.the rnloted ottutil rftsu115 There.ore no es¢lmotes. und os$vmptlons
thoi. risk of"thL'sln¥. o nltyleriol odju{twnent tu the qori.y￿9 Umourkts of tisÈbts.ond liobli￿"t$
iiiTrtsn the ne￿ fin0￿￿ U¢ty'.
#ooÈ.13

Yhe Insthi¢è of Q￿rryIng èerwalent Fund
NDtes to'th¢ FlntinE1￿ 51¢iteTr)ems
For thp Yesr Ended 31 Qetembef.2QZ4'
ificome frèth donatl¢h5 and I￿?¥￿S
vnrèstrlei¢d
fund#
2024
Tgtyl
f¥Jnds
1024
466
Vnr8slricted
lund$
fur.d$.
2025
Oontitioni
2.56
26.6
rnv•StmEnt kn¢gm*
Unréstrict
fvnds
Totol.
fMid$
1024
29.lal
2liOi
Unrestrl£ted
funds
2Q23
Tc>tol
funds
Liyed investmènts
.494
22.￿4
Pvqe'14

The 1nslltute.of dv0¥f￿n9 Benevoleot Fvnd
'Nutes tothe F¢Mno'ul.Ststerneftts
lorthe YearErtded.31 DeeÈmbèr 2024
Qther Incpmkn•resovrtes
Tottsl
f¥nd&
2024
other.Incomrf￿ rèsources
3.076
Unresrtied
fu)ds
Other ID<wln¥ resovrtes
.425
).425
nalusfjstsf.'gtants
Srttnts to
Tottsl
2024
. 6rantsJ@ benèfidNié5
.25.144
24144
ror)ts<
Totol
2025
.Gr&nts to benef￿¢￿e8
28,8¥2
28,"692
Gronts"wgre modeto 4.'(2DZ5..X) ionq term.henefiaooe>fty rf¢l*f0rf￿tsn¢1￿1 horrJÉty.p,

The Ihaliute Of UuqYPylO9•erievoleryt Fvnd
Notes to'the Finonthbl Statprnehtg
.Forthe,YerJr ET4di£d 51 De¢•*ber 2024
AF￿1￿15.0f w¢rtaIt￿t
Gri)nt
fvndlng of
adlviibs
2024
,Support
Totol
fthid$
20.24
2024
Cbc¥l1 Dble'othvltles
25.144
52.975
.￿rnt fvnding
of oct1v1ll￿ Supportcosts
Totol
fun¢ts
20¥3
"2023:
Charftabl?tsclTvkt
28,892
7,89.D
6.78Z
Puoe16

ThÉlnatituté of Qu.Orrylny'8Ér￿￿lértt Fund
Notss to tht Fin4n¢Sal 5toteMW)ts
For th& tr¢of EMdÈfl 31 Detemiye¥202
AnulyshTof expéndltur¢ by Ud&V1￿..((￿￿t￿￿a￿)
Artoly*vf ￿￿ort costs
Tolpl
fvn(f5
.funds
2024
LÈWI ond'pFofesS￿O￿I
l.450
1320
24.20.3
2,5'$7
m￿Cell￿n¢￿￿￿
1.312
27￿90
AudjlOES'. renwneration
The.uuditoV£ remunEra￿0￿ affnasjhts tti Unc￿10rfQiaf £1.45Q'{20P.£1.520),
10.
Yrust¢eg'Y¢inunefqtion eyn5e5
'During the yeor., no Trustee¥'r£¢elve(f ony r8rryinera71¢)riDrQther'b2￿fJ[S (?023- £NIL).
During th¢ lieor eD¢¢d 51 Docembei.2024,mo T.rv#e¢C￿eQ&es.hQYe beeDlnEurred (2025- £NILJ
PD•e.17

Thè Ins*l*ute of Qvvrruinty ￿￿9VoI￿nI F￿1
Notesto t￿* Bnunog1.St(rte￿tTh1$
For thè Yeur Ended 510ecembor2024
11.
FI￿ o5$4tlr*v¢$tments
Clstod
ilnligtéd
Investments inv•srmentg
T*to1
Cost oPvglvrrtl)ri
.Ai 1 Januow 202¢
Addillon5
2.4((2
1.737.45S
119.50Q
119.5QQ
Dispos91s
Flev4luatloii5
.1159.427)
71'.dS6
039.42T)
72,392.
956
Al J Qecernbw 2024
l186 582
aJ58.
1'189.*20
Aèt Ixok volue
.t31 D1￿mbe￿2024.
1,186,587
1.189':920
At 31 DeceNber.2025
1.135.053
2,402
1.137.455
Cretiitor5: AmouAts.fdllfiA.dvu wlthth on¥ yè.or.
.2024.
2025
Jiccrvals
1..780
Pr4ge 18

Tbe Institut• ol Qg¢srrylri9 Bèt)evolent. Fund
Note*.th.Ih• Flnonclal Sl¢t¢inents
For the Y$ttrEnded &TOocember 2024.
*￿eme1￿ of.fund$
fjt#tém¢nt of'fvnds.- ¢orr¢ffj ue¢i¥
Balance ot 1
Jonuur:y
2024
BoTroncÈ llt 31
Dec*Mber
.2024
(Lo4ses}
Uki"r¢5trÉt&d fvnd$
GerterDI Fun45
1,19Q,656.
31243
(52:97¥}
Sl.999
L221,•05
S*•tw¢nt of fvn¢¥- pri￿.¥¢￿1
B(Jlonce tst
J JonvoP
2023
Gws/. 31 Q8cew¥qr
'(Lgw)
come
Experditvre
UtiFgrtrkEed'fvnd
Ge￿rgI f￿ndS
1.171259
.26.185
(56.782)
48,974
1,190.656
14.
.An"uly¥ls of nrt betwèen Ivn¢¥s
ATh0￿1￿ of hÈiusSqi¥ betwèen funds-. wrretit pwiod
Unr•strf¢Fèd
funds
2Q24
Tvtol
nds
2Q%4
Fktd o*set"investmonts
Cutrént 055ets
creditorsdu*.￿¥1)tsl ott* wor
L189.92
31365
058P)
1.1B9.920
0.380>.
.1.221,905..
IJ21.903
PogE 19

75x'llSt5lLitè otQvartyhgg¢nevolèrt Fuiid.
Notes'(o the FlnaDtial Statament5
For.Ihe Yerjr gnilerj >1 o¢¢emlxr 2Ia4
14.
AiialydY￿ net ¢ssetè bwween flmdf C¢ontlnu*d)
Ar￿1￿15 li¥ rt*t US8815 bètween fvfid$-. wlor perlotl
ihl2strfrfed
rotql
2023
2025
FtXEd'osset Irwestment5
I.DFt•nt fJ55gts
1.137,455
5S.6X
{2.4401
1..117.455
5s*n
Credtttyf5 fjye ￿thIn onè ue￿r
1.190.656
1.I¥Xj.656
Totq1
Bvitted porty transo¢tlonF
The c.hart￿ 40$ not enter¢d *)io oriy rt￿teLl party. trunsu¢tlon during the year, ore ￿ere OEtstonWrg
boitillce>ow509 bèvrteenrdotèd po.riies ond ihe.Chorfty Bl.31 Oeo¢mtyèr"2024.