REGISTERED CHARITY NUMBER: 214531 Report of the Trustees Unaudlted Fln#nclAI Statem¢nts for the Year Endod 31 Dotembtr ZOZ4 for Th¢ Savage Club Benevolent Fund ansleybond 1-2 Charterhouse Mews Lopdoii ECIM 6BB
The SAvag¢ Club Benevolent Fund Contents of the FinAncial Statetnent$ for the year Ènded 31 December 2024 P¥4ge Report of the Trustees Indep¢ndent ExAmlrtcr's Report Statement of Flnancial Activities Bg14nce Sheet Notes to the FlnaNel&l Statements 6 to 10 Det4lltd StAtement of Flnan¢lAI Activltles
The Savage Club Benevolent Fund Rcport of the Trustee5 for the y¢Ar ended 31 Deeember 2024 Tlie trustees present th¢ir repori with th¢ finai)cial slat¢menis of tlie cl)arity for ilie year ended 31 D¢¢ember 2024. The trLiStee% liav¢ adopted Ihc provisions of AccontIng and ReporliThg by Cliariiies.. Staleinent of REcomm¢nded Practice applicable to charities preparing their accoLinls in a¥cordanee with the Finanlial R¢porting Standard applicablc in the UK and Rcpublic of Ireland IFRS 102) leffectivc l January 2019). OBJECTIVES AND ACTIVJTIES Alm5 and Org*ni%&tion Th¢ main objectivc of tl)¢ fviid as stoted iii the governing do¢uinefttS 15 "to as%ist meinb¢r5 and ¢x-members and cinplDyees ond former employees ol tlie Savage Club atld dependanls of dcccased n)embers, ex-Incinbers, employ¢es aiid fonner eimployees. wlio tlirougl) misfortune rcquirc 3sskslaii¢e, financial or otherwise. Th¢ triist¢¢8 and the other memb¢r5 of the iiianageinent committee are advised by in¢inbcrs of the Savage Cliib. of any eligibl¢ bcnefici&ries that are in need of financial assislancc. Ca¢h case biDught lo Ilic n]anag¢ment committee's alttnlions is coiisidered and where r¢l¢vant a grant is approved. Infoimation on wh¢th¢r financial assistance Inoy b¢ required is also PTovided by a'waichinan" In detern)ii)ing how be%1 to a¢hi¢ve the charity's objEcts, tlie trust¢¢s liave had regard to tlie Charity Coinmi5sion's guidaiicc on public beiiefTt. ACHIEVEMENTS AND PbRbORMANCE Revleiv of the Fund The n¢t lout8oin8)lincDtnin¥ resourc¢s foi. the yeaT of {£15.7291 (2023.. £17,259) aris¢ from a eontinuing policy of maiiaBing resources lo meet valid graiit IfqUC51s which vKry froin y¢ai' to year. The realised110s5)Igain on iiivcstinei)Is of (£30,510) {2023'. £7,392) ari¥E as a result of 1118 sliares 10 protect tUre futtding required ie itteei out80ing r¢8ources. As grnntN are paid to nieci fLnancinl iiceds of qualifyTng iiidividual% a% tl)ey aris¢, Iliii ¢o¥l will vory froiii year 10 year, IiivLsimLnls arc iMadL witli a view lo providiiig eiiliLT Lupil#l growili sv ihllt Ih¢y ¢an bc sold or inLx)m¢ to mLct Ii¢i outgoins re$ouTC¢5. FINANCIAL REVIEW Trustees The Irustees of the fund ore as stated ott the inforn)alion page. A Miximuin of four trusiees ¢An b¢ appginted and they re¢eiv¢ iio remuneralion or expense%. Reserves 8nd risk pollcy The reserves h¢ld are maxiit)ised by inve¥lmeiit Lo rncct Ihc varying levels of grant¥ p#yablc wliich arc nol coveTcd by incon1¢ froin Ih().¥e invcstllicnts. Th¢ invesiinents m&d¢ can at any limc bc aff¢cied by ihL llucluation5 of tli¢ stock Inarket and thcr¢fore it 15 ¢5sential to maintain a level of invcsttnent that provides an adequate flow of income. The flueatIO]IS in thc stock mdrkei and tht level of grants paid each year al'e coi)sidLred to bc Ihc moiii risks faci118 the fuiid wid th¢ coinniittte monitor these aspe¢ts of the fijnd to ensure il inccts its fllre obligatiolls. STRUCTURE. COVF.RNANCE AND MANAGEMENT Governlng document Thc c11arily is conlrollcd by ils govrming docuinenl. a d¢¢d ofiru$l and constitut¢s an uiiincorpordted Charity. The 8overning document of Ihc fiind is dated 13th April 1898 and this hos bccn amend¢d by a deed of variation dated 1983. Rccruitmont oppointmcnt of neiv trllstee5 Trustees are appointed after being illvited by the cliairman to aet as trustee and ar¢ then fomially approved at a COTnniilte¢ m¢eting. Governance structure The coininitlee of m&nag¢meni consists of four inL8(ees gether with no more tlian six oiljer tiiembcrs of lh¢ Savage Cliib. Page I
The Savage Club Benevolent Fund Report ofthe Trustees for the year ended 31 Deccmb¢r 2024 REFF.RENCE AND ADlINISTRATIvE DETAILS Re%i51ered C.h*ritv number 214531 Prlnc5phl address I Cliiiilerhous¢ Mews Londoji ECIM6BB Trustees C. Barrcll S Ann4tri)ng D Ncw50 L R Woo(Ic(Ick Independcnt Examlner aiisieybond 1-2 C.liarterhousc Mcws Loiidoii ECIM 6BB Approved by OTdcr of th¢ board of tnistCC5 On .... and sibyncd on lis b¢half by.. C Barrcii . ru$ice S Arinblrong. Tru%lec Page 2
Independent Examiner's Report to the Trustees of The Savage Club Benevolent Fund Indepondent ¢XY&mlner's report to tlxc trustee5 of The Savage Clllb BenevoleDt Fund I report to Èhe cliariry trustees on iny exainination of Ilie accouiits of The Savage Club B¢nevol¢i)t Fund (the Tn[) for tlie year ended 31 De¢ember 2024. Responsibilitie5 and basi5 of report As the charity Iriisi¢¢s of the Trust ytsu are responsible for Ihc preparation of tl)e accoiints in a¢¢oTdance wilh tl)e r¢quir¢m¢nls of the Charities Act 2011 {'the Acl'l. I r¢port itt r¢spe¢t of niy exainiiiation of th¢ Trn5t's accounts carried out under Section 145 of the Act èL)d in carrying out iny exalninaiioii I have followed all applicable Directioiis giveii by the Charity Coinmis$ioii under Sectioii 145(51{b) of tli¢ Act. Trtdependent eXaler,$ statement I have cumpl¢l¢d rny examinaiioii. l ¢onfJrni Ihal no material Inatl¢rs have con)e io my Jtl¢n(ion in conn¢ciion witli ihe examinatLOrt givsng me caiise to believe that in any Inaterial respect.. accounting rordS were not kept ii) respect of thc Trusi as r¢quired by Section 130 of th¢ Act-, or tlie SLCCOUlits do not accord i¥ith Ihose r¢¢oTds-, or Ihe accounts. do ii(>l coinply witli Ilie &ppli¢able rcquireinciity ¢oiic¢min8 thc forim and Lonl¢iJt of a¢¢ounts set Dut in tlic Cliarities IAccoLiiils ond Report%) RegLilatioiis 2008 other Ihun any requirement tlial the accounLE give a Irue ond fair view wl)ich is not a m8ltcr consider¢d as parl of an independent exAininaliun. I have no conc¢ms and have come acro$s no other matters in conncctlOA Wlth the examinAtion lo which attention ¥huuld b¢ di8wN iii tliis report iii ordvr 10 ¢nobl¢ o propel. undcrslan(Jing of th¢ accouiits io b¢ re8chcd. Colin Ellis FCCA CF ansleybond 1-2 Cliarterliou5e Mews Loi)don ECIM 6BB Dttt¢'. Pag¢ 3
The Sav4g¢ Club Benevolent Fund Statomont of Financial Aetivitics for the year ¢nd¢d 31 December 2024 2024 Unreslricted fund 2023 Total nds Notes INCOME AND EWDOWMENTS FROM t)onations and legacies 1,329 967 Investm¢nt income 23.774 23.465 Tot*1 25.103 EXPLI NDITURE ON Raising fund¥ Lnv¢slm¢nt management costs 2.282 2,282 2,194 ChArltable Acdvlties Governaii¢¢ Grgiils to individvaly Support co%ts I,so 3,250 4.616 Other 3,424 Total 14.565 Net gain[lasses) on ii)vestinei11$ 183701 NET INCOMEIIEXPENDITUREI 13,589) 2,726 RECONCILIATION OF FUNDS Total funds brou¥hi forward 492.091 489,365 TOTAL FUNDS CARRIED FORWARD 488 502 492,091 The notcs forn part of these fjnancial statements Page 4
The SAvAge Club Benevolent Fund Balance Sh¢et 31 December 2024 21)24 2023 Toial funds UnrLslriLl¢d fund Notes FIXED ASSETS liivt4imcni4 450,852 442.721 CURRENT ASSETS Dcbiors Cash at bank 840 42,811 840 53.030 43,651 5.1,870 CREDITORS Ainounl% lalling due w'ithin one year 16.0011 14,5001 NET CURRENT ASSETS 37.650 TOTAL ASSETS LESS CURRENT LIAIIILITIES 488,502 492.091 NET ASSETS 4XX 502 492.091 UnrL%iri¥t¥d fund% 4%8.5Q2 TOTAL FUNDS 488,502 492.agl The tinancial *1otemenl% were #pproved by the Board of Tru%te¢s aiid auihorised for issue ON and were sigiied on 11% behall'by.. ancti TnJ$lcc S Arin5lroi Trll8lce The note5 fom part of these firtancial statem¢nts Page 5
The Svge Club Benevolent Fund otes to the FinnRci21 sttelents ror fho ytxr ended 3] Dctcmber 2024 ACCOUNTING POLICJES Basis of preparlng the flnancial slatement5 Thy financial slalemenls of tlie charity, whicli is a publi¢ b¢nefit ltItY under FRS 102. hav¢ been prepared in accordance with the Charilies SORP IFRS 102) 'Ac¢oiiThting and Reporting by Charitics-. Sialemeiii of liecommended Pr&ctic¢ Lpplicable io charitles prepaTing their ac¢oiints in aLcurdance with the Financial R¢porting Standard applicable iji the UK And R¢public of Ireldnd IFRS 1021 {eff¢ctive l Janiiary 2019)., Finajicial Reporting Staiidard 102 'ThE FiE]aiicial Reporting Stat)1Sard applicable in th¢ UK And Republic of Ireland, and the Charities Act 2011. The financial $tat¢inenls have b¢¢n Prepared under the hi5torieal Cost coiiventioii, with tlie ex¢eption of investments whicli artr included at inarket value, as modified by the r¢valuaiion of certain assels. Taxatln The cl)arity is ¢xempt from tax on ils ¢liaritabl¢ aclivilies. Fund gccouttting Uiirestricted funds cali b¢ used itt aecordance with Ihe ehAritabl¢ objwtives at the discrelioji of the trust¢¢s. Restri¢led Ojnds caii only be used (or particular IvJlri¢ted pulp05 wiihitt the objects of the charity. Restrictioiis arise wh¢ii specified by th¢ donor or wlien fuiids arc raised for parli¢ular r¢siricled purp05e5. Ttlier oxplanalion of the L)aiure and putpos¢ of ell fund 18 iiicluded in ilie notes lo tlie financial slalemcnL6. INVESTMENT INCOME 2024 2023 Other fixed 83s¢I invest - Fll Deposit accoui)l inkrest 23,720 54 23.404 61 INVESTMENT MAIYAGEMENT COSTS 2024 2023 Portfolio InBn&g¢mertt TRUSTEES. RCI MUNERATION AND BENEFITS There were no Iru5tces' remuneratiiirt or other benefits for the year ended 31 De¢eiiib¢r 2024 nor for the year cnded 31 De¢ember 2U23. Trustee$, expcns¢s TII¢Te were iio trusiees, ¢xpenses paid for the year eiided 31 Deceinber 2024 nor for the year ended 31 December 2023. Page 6 continued...
The Savage Club Benevolent Fund Notcs to th¢ Financial St#t¢ments- continued for th¢ y¢ar ended 31 Dteemb¢r 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES 2023 INCOME AND ENDOWMENTS FROM Donalioi)s and l¢ga¢ies 967 Investm¢nt ID¢¢)me 23,465 TotAI EXPENDITURE ON Ralslng fund5 Inves¢m¢nt mana8¢illent C051s 2,194 2,194 Chorltoble o¢ilvltle$ Governanc¢ tirLnt5 10 iiidividuals Support costs 1,500 3,250 116 other Totol Net galil(loSSeSI oil ii)veslm¢nls NET INCOME 2,726 RECONCILIATION OF FUNDS Total fund5 brDuglil forward 489,365 TOTAL FUNDS CARRIED FORWARD 492091 IIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l Jonuary 2024 Addi¢iOIIS Disposals Revaluations 442.721 40,869 {44.878) 12.140 At 31 December 2024 450,852 NET BOOK VALiIE At 31 Deceinber 2024 450.852 At 3 l Dcccmber 2023 442,721 Page 7 continued..-
The Savage Club Benevolent Fund Notes to tb¢ Fin#nclAI StAtcments- Continued for tht ycjr ended 3] D¢¢¢mber 2024 FIXED ASSET INVESTMENTS- eontlnued Tliere were no invesljment assets oulside tlie UK. Cost or valiiation at 31 tkc¢mb¢r 2024 is representod by-. Listed inve5ttnellts Valuation iii 2018 Valuaiion in 2019 Valwdliuii in 2020 Valuaiion in 2U21 ValLialion in 2022 Valiiation in 2023 VuluatioiJ ii) 2024 524,923 131,727 (169.031) 144,384) 126,651) 26,137 450 852 DEBTORS: AMOUNTS FALLING DUF WITHIN ONE YEAR 2024 2023 Other debtors 840 840 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors MOVEMEI4T Ir4 FUNDS Net mi?vcrnent in funds Al 31.12.24 Atl.1.24 Vnrestrlcted fund Grn¢ral fiind 492,091 {3,5891 488.502 TOTAL FUNDS 492091 3.589) 488,502 Nei movement in fuiids, included in tlie *Lbove are as follows. Incomi resourccs Resourc¢s exp¢nded Gaiiis and losses MovcTn¢ni in funds Unrcstrl¢ted funds Gener81 fiind 25,103 (10.322> (18.370) 13,589) TOTAL FUNDS 25,103 (10.322} 118,370) {3,5891 Page 8 ¢ontinued...
Tbe Savage Club Benevolent Fund Notes to the Fin#nei#l St2t¢monts- continued for the year ended 31 December 2024 MOVEMENT IN FUNDS- cont5nuÉd Comparatlves for movement in fund5 Net Imovement in funds At 31.12.23 At 1.1.23 Unrestricted funds Geiieral fujid 489.365 2,726 492,091 TOTAL FUNDS 489,365 2,726 492.091 CoinpaTativ¢ iici Inov¢ment in funds, included in ilie above arc as follows.. In¢oniing resoiirces R¢sources expLnded Gains And losses Mov¢ineni in fund¥ Unrestrlcted funds Gcn¢ral fund 24,432 (14,565) (7,141) 2,726 TOTAL fi UNDS 24.432 14 565) A curr¢iit yeAr 12 rtiontlis aiid prior year 12 Inonihs ¢oinbincd po$itioi) is as ftsllows.. Net rnvvcn*nt in fund5 At 31.12.24 At 1.1.23 Unrestrlcted fund$ Gcnoral fiind 489,365 (863) 488.502 TOTAL FUNDS 489,365 488 502 A Gurreiit year 12 Inoiitlis aiid PTior year 12 monihs combined iiet Inovem¢nt in funds. ihcluded ITh th¢ above are a$ follDWS'. Incomihg rcsourccs R¢soiirces expend¢d Gains and Ios5eS MovcmcTht in funds Uttrestrlcted funds Gcncral fund 49,535 (24,887) 125.511) 1863) TOTAL FUNDS 24 887) 25,5111 863 Page 9 continued...
The Savage Club Benevolent Fund Notes to tht FlnMneS81 StateEnents- ¢ontinlled for the yt#r endcd 31 Deccmh¢r 2024 io. RELATED PARTY DISCLOSt5RES There were no related party irnnsactions for the year ended 31 DeCthb¢r 2024. Page 10
The S#vage Club BeDevolent Fund Dcfail¢d StAttmcnt ofFin14 ncial Activities for the year endcd 31 D¢¢embcr 2024 2024 2023 INCOME AND ENDOWMENTS Donat5ons #nd Icg•ci¢$ Donalions 1.329 967 Investment income Other fixed asset invest- Fll Dcposit accouiil intcrcst 23,720 54 23,404 61 23,774 TotAI irteomlng resources 25,103 24,432 EXPENDITURE Inyestment munagement co$ts Porifolio nianageiiieiii 2.282 2,194 Ch4rlt&ble Aetlvltles Graiils to instiluiions Graiits to iiidividuals 3,025 3,025 3,250 Other Adininistrative expenK Watchincn cxpenscs 2,824 600 6,705 800 3.424 7,505 Support costs Bank Charges 91 116 CoYern8n¢e tosts Accountancy ai)d le8al fees i.s00 TotAI resour¢e5 exponded Nct in¢ome before gAlns Iosseg 14,781 9,867 Realised r¢cognised gains 9nd losses Reali5cd gainslllossesl on fixed as%el invcslmeTht5 30 5101 Net {expendilure)lineom¢ 15.729) 17.259 This page does not form part of the stattitory finattcial statements Page 11