REGISTERED CHARrrY NUMBEK. 220792 THE J REGINALD CORAH FOUNDATION FUND STATEMENT OF ACCOUNT8 FOR THE YEAR eNDeD 31 MARCH 2026 THE ROWLEYS PARTNERSHIP LTD CHARTERED ACCOUNTANTS GHARNWOOD HOUSE HARCOURT WAY MERIDIAN BUSINe8S PARK LEICE8TER LE19 1WP
THE J REGINALD CORAH FOUNDAnoN FUND ACCOUNTS FOR THE YEAR eNDED 31 MARCH 2025 Contsnts Pag• Relerence and admlnlstrakn detall8 Trust, Report Independent Audltys, Report Stai•m•nt of Flnanclal Acuvltlos Balance Sho•t 10 Nole810 tho Fln8nclal Statem•nts
THE J REGINALD CORAH FOUNDATION FUND REFERENCE AND ADMINISTRATIVE DETAILS Charfty numb•r 220792 Tru•t••s: DPCornh R Bowder J Pear8 Prfnclp•l offlGo: 20 Welby Road Asfordby Hlll Mellon Mowbray Loicestershire LE14 3R8 Auflltovg: The R¢Jwleys P8rtnershlp Ltd Charnwood House Harwurt Way Merkllan 8uslna$$ Park LoiG8sler LE19 1WP B•nk•rn: Lloyds Bank P 7 Hlgh Street Lelcester LE1 4FP Invo8tm•nt manager8'. Ca28nov8 Capltal Manag&ment Llmlted 12 Moorgats London EC2R 6DA Fre8tp)s LLP Cumberland Court 60 Mount Streot Nottlngham NGI 6HH
THE J REGINALD CORAH FOUNDATION FUND I'THE CHARITY") TRUSTEE8' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report with the financial statements of the Charity for the year ended 31 March 2025. The Trustees have adopted the provisions ofAc¢ounting and Reporting by Ch8rilies.' Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standards applicable in the UK and Republ of Ireland IFRS 1021 leffecbve 1 January 20191. The financial statements have been prepared in aOranCe with the accounting policies 8èt out in the notes to the accounts and compty with the Charity's goveming docuTnenl, the Charities Act 20118nd Accounting and Reporting by Charities.. Slalemenl of Recommended Practts applicable to charities preparing their accounts and in accordan¢e with the Financial Reporting Standard applicable in the UK and Republi¢ of Iroland publi5had in October 2D19. OBJECTIVES AND ACTIVITIES Ob}ectlv•8: The funds of the Charity and ils income are to be held uwn Such charitsble trusts and tor $u¢h ¢harllable purposes a? the Trustees shall from lime lo tlme, in their absolute discretion, think fit. Without prejudice to the gener81ity of the Irusls, the income of the Charity shall be applied in such a manner as the Trustees shall think fit for charitable purposes in the City & County of Leicesler and Rulland, or in either of them, and in parbcular for the bonofbt of employeés and 8x- employees and the dependant5 01 employees and ex-employees of the hosiery firms carryin9 on business In tho Clly or County of Lèlcester and Rulland. The Trustees passed a resolLtllon In March 2022 to move to a 'Tolal Return. approach lor Income commencing In the FY 2022-23. The income of £177,166 recelved from Cazenoves was split as follows,. Income from Oividends £158.282 Income from ReseThes £18,884 Actlvltiol: Appeal$- Numerous appeals are receiv8d by the Secret3ry to the Charity as well as the Trustees and these are tabled for consideration by the Trustees at regular meetings of the Truste85. Grnnts - Any gronts made in response to an appeal represenl a single payment and nol an annual comrnilmont. Ggn¢r*l- Tha majority of 8118ppeals and grants are 311ocal8d lo local organisalion5 or n8liJnal organlsallons where there 15 a strong local focus. The priority actsvities for such grants are Children's Organisalion3, Speci81 Needs, MedieallDisabllily, Welfare in the Community and Education. Applieallons from individu8ls are not considered unless made by or supported by a recognised charitable organisation lo whom any grant agreed to be made lo the Individual will be paid. Grants are made lo local and nallonal organisalions and not to individu81s, the TTUStees do not believe rt is necessary lo check that such distiibulions have reached the beneficiary and have been used for the object requested. However, feedback is often received from many or9anisalions which, in itself, is a checking procedure. Al the beginning of each financial year. the Trustees review and agree the grants lo be paid in the corning year lo those harilies lo whom grants have been made on an annual basis and estimate the balance of incom8 thereafter 8vailable for allocation against specific appeals. PubllL b¥ii•flt.' The Tiustees have considered th8 Charity Commission's requlremenl in respect of Publi¢ Benefit., in their view the Charity meets, in lull. the criteria to satisfy the lest. The Tnjstees, Annual Report describes the activities undertaken to further its charitable purpose5 for the public benefit.
THE J REGINALD CORAH FoUNDATN FUND TRUSTEES. REPORT IContinu¢dl FOR YEAR ENDED 31 MARCH 2025 08JECTIVES AND ACTtVlTIES IContinu•dl ACHIEVEMENTS. PERFORMANCE AND FINAPICIAL REVIEW Thè Truste9$ have maintsined accapt8b18 irwme levols from thè Charlty's inv88trn8nts. In 2025 the Trustees idgntified a er05S-sec¢ion of worthy charitabl¢ ¢au58s and distributed all of the avaiLqble income In 2025. The effect of this is that the reserve Is withln tho mlnimurn and maximum rgsarve level as detailed in the r•serv•s policy, shown bebw. The Statem¢ni of Financial Activit188 881 out on page 9 is showing 8 net deficit in funds for th¢ year of £17,649 12024 Surplus of £413,509> after takln9 account tsf unrealis8d and reallsed galns and losses on Inveslments. The Charity mad• donallons dufinu the year of £1S3,92012024- £139,075). In the y8ar lo 31 Maicm 2025, the largest grants were £12.$00 to Ih? Fram8work Knltl•rs Cottage Homes, £7,600 1 LCOS and £4,000 lo Far8$hare East Mi(Jlan(Js. other large gr8nts allocate(l in the yeBr were as lollows.. - Age UK- L8lcs & Rulland £2,000 Air Ambulance- Laics & Aulland £3,500 8elvoir Crick&i Club £3,500 Crackerjacks Childr•n's Trust £1,800 Dove Coltag8 D8y Hospicg £2,750 CF Dre8m Nolidays £1.800 Giving World £3,250 Headway- East Mldtands £2.500 In Kind Dlreci £2.000 Leicester Children's Holiday Assoei8tlon £3.000 Leices18rshire & Ruil8nd Blood 8ik¢s £2.000 Listening Book5 £1.500 LOROS £2,000 Peier Le Marchanl Trust £3,250 Rainbows Hospi¢e for Chlldren Sense- LoughboroLfgh £1,500 £3,000 Sport in Desford £1,500 Inv081m•nt pollcy- The Trustees, pollcy Is lo mainlaln a balanc8cl capltal growth 8nd incomÈ policy with the focus on wl(Jespread portfoli¢ ol Gbb81 high quality investments. The Trustees hav• arranged lor all the quoted inv?slments lo be administ8reLI by C•zenove Capit81 Management I"Cazenove"l on a discr8tionary basis. from whom they r¢¢?ive quarterly r•ports and with whorn they have an annual m•8iing to review performance. The Trusl•e8, being mindful thal tho Charily was not set up to accumvlate asgels. bul lo dislribule ilB income for charilable puiposes. required Cazenove 10 achieve a minlmurn annual in¢orne lor dislribullon in each year. amount ol which is agrèed with Cazenove at each annual mèèllng. Going forwards Ihe Trustees havè 3pproved the Total Rplurn Ljlstribulion approach and an ineom? ol £ISO,000 per annum has been agreed. This Is tsecaus8 the UK oquili?s markel is beroming unstable and a greater percentage of the portfollo has b86n invo8led in non-yielding bul higher growth stock. This wiu be monilored on a Quarterly basis. REserv•'$ policy- The Trustees. policy Is th8t 8 reserve fund 8hguI¢ b6 retained to cover flvclualions in the Charity's Income and oranl aoplicalions. ThlÈ r?sgrv• #hauld be no l•ss Ihan &foY¢ of the Charity's Income an(J no mor Al 31 M2r¢h 2025, the unreslricled general funds amounted to £126.893 which is approximaiely 8OWo of the incomo for the year lo that dale whieh falls within the aoree(J p&rameler8. The ¢esi9naied funds hold by rhe Trustees 81 31 March 2025 amounteij lo E6,453.474. These funds 8r6 hgld for tho purposes of the Chaftty as 8et out by ihg objectives on page 2 of these accotsnis.
THE J REGINALO CORAH FOUNDATION FUND TRUSTEES, REPORT ICont5nu•dl FOR YEAR ENDED 31 MARCH 2025 Risk rEvlaw- The Trustees have c8rrled cul a risk VIeW aThJ h8v8 tsken thè necessary steps to mlfjgats Ihe rf6ks identffied as follows'.- Where any person proposed to be appoint&d a trusts8 is a membèr of eith8r the18g81 or 4cMuntsncy professlon8. it Ss considerecl Ih8t the vetting of such per¥on to ensur8 they arv proper p¢rson rt subj8cl to disqualification und8r statute has by dèfinition already boen vnd6rtak8n by hls or her proles$ion81 body. Should It be thal any Iru8tee proposed was nol a member ol a professional body subl$ct lo such check5, then 8 proper vettSng procedure would ba ¢arried out by or on behall of th• Tru3lees to gnsure that Such proposed trustee kg not disqualified under any ol the ¢irGurn8tances set out in Charity Commijsion PubllGalion CC&J. The Trustees are mlndful of the neèd to en8ura th41 funds ar8 awarded only for charitable purposes and not for pfjoplo nd couses which should in fa¢t be the provincè of Stale funolng. Grants only made to r•gi$l?red charktks end for obviously charitabl• purpo886. The Charity does not recglve donation8 from th• publK. but sknply give8 grants fnyfi its own incoma. Checks and balances Io safeguard Incoming funds trom these sources are not ne¢ess•ry. However. thè Trustees re9ularly review the Chorlty'$ divldend Incom8 to 8n$ure It recelveg all enltlem8nls. The Trusle¢s hove revlewed'Potential Rlsk5 at a meeling ol th& Trust•e5 on 18 May 2024 wNch Included th folltswino.. Governance & Man8gem•ni Rlsks Oper8tlonal Rlsk$ Financial Risk5 Environmenlal & Exiomgl Rlsks Cornpliance RL8ks Th¢ Bribery Act . The Fit & Prop8r Persons Aot Minutes of the Truslees. meetlngs are held on 1118 wSth no concefns Identlfiad. The Trustees wlll r•viow Ih•88 Polenli31 Risks annvally. Insur•nct- The Charity ha? indemnity insurance in pL4ce to covèr th8 Trusta•g lor gry Ilabillty that may 8ttach to them In Tespeol of negligence, default or breach ol trust or brelch of duty of whlch they may be gullty in reletion to tho Charity. The cosl of the In$uranco Is £27312024- £2721. Post balance sheet ovents and futiire OPBfatlon8 - There are no po51 balance 5h¢el$ to report
THE J REGINALD CORAH FOUNDATION FUND TRUSTEES, REPORT Icontlnu•dl FOR YEAR ENDED 31 IMRCH 2025 STRUCTURE. GQVERNANCE AND MANAGEMENT The Charity was eslabIhed by Trust Deed dated 23 D¢cemb•r 1953. Tha ChArity was approved by the CherSly Commission as a charitable trust undèr tha numbèr 220792. The Trust•88 4r8 Shown on pBgo 1 and Ihe Statutory power of appoinling new Trustee8 appli88 in accgrdanc8 wllh clausa 20 of tht Trusl Dead. Clauio 19 01 the Tru8108ed provides that Trustees sh811 be rUngrated. Trustee5 receive Inducllon and Iralnln9 as r8qulred. This training would be provided as and when necessary so 8$ to 8nsure currant r8quirernent$ gs epplSc8bl8 lo the Charity are mel. Tha Trustees rneet 8pprox1rn81ety 6 tlmes per annum. STATEMENT OF TRUSTEES, RESPONSIBILITIES Th¢ Trustees ai& respon3ibl¢ for preparing the Trustees, Annu81 Report and th8 finanelal slalernenls In accordance wilh applieabla law and UniiÈd Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclictsl. The law appllcabl8 to charll89 in Englan4Y & Walas requir*s tho Trustee8 to piepare fi'nancial slatem¢nts lor each fin&ncial year whlch giv• a tru• and fair vlew ol the $lele of affalrs ol the Charlty and of th8 Incomlng rèseureès and application ol resources tsf thè Charity for that pgriod. In preparing these financial slalernenl3. the Trustees are iequired select sultable a¢countsn9 pollcia5 and Ih8n apply thèm eon8lstèntty'. observe the rnetho¥Js gnd principle5 In the Chariti85 SORP 2019 IFRS 1021., make ludo8m8nls end eslimJle8 that are rea50n8ble and prud8nl', $late whelh•r applicable UK Accounting Standards have been followed, subject to any mal8ri81 departuras disclosed and 6xplain&d in Ihe finanei81 slalements., prtpare the flnanci8151alements on the going concern basls unl8SS It 1$ Inapproprlate le presum¢ that the Charity will contiTru• in operallon. The Trustees ar8 responsible ftsr keepin9 adequ8le 8ccounb.ng records that disclose wlth reasonable accuracy at any timè Ihe financial poslllon ol Ihe Charity And enable them lo ensur& thai the flnanclal staiernenls comply wllh the Charilies Ael 2011, the Charitl8s IAc¢ounts and R8POrtsl R8otslalions 2008 and the Trust Dèad. They ar8 also rosponsit)le for g¥fegu&r(Jin9 the assats ol the Charity and hanc• for tskirg reasonab gteps lor the prevenllon and 818clion tsf fraud and olh8r irregularities. Approved by th• Tru¥l••s on 2025 and 8lgn•d on thelr beholf D P Cor•h
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE J REGINALD CORAH FOUNOATION FUND Ind•pgnd•nt Audltor's Report to the Tru$t¢•s of the J R•glnald Corah Foundatlon Fund Oplnbon: We have audited the finan¢lal statement5 of The J R8gln¥ld Corah FouniJ¥tion Fund (the 'Ch8rtty'l for Ihe year endod 37 March 2025 whh cornprL8e Slatement of Finantial ActNilies, BaLqnce Sheet and n¢leJ lo the financial stJternents, Including a summary of signifi¢ant accounting policies. The financlal r8POrtiro framawork Ihat has been applied In thelr preparation is appllcabla by law and United Klngdom Accounting Standards, including Financial Reporung Standar(I 102 The Financial Reporting Slandard appllcable h the UK and Republic ol Irtsland (United Klngdorn Generally Aecepled Accounting Praclicel. In our oplnlon, the flnanclal ststements.. glve a true and Iglr vlew of the ?tale ol the Charity's affairs a5 ?131 March 202S, and of its in¢omlng resourees and appllcalion of SOurces, Inrludlng ils Sncorne and 8xp8ndlture, for the year then ended., tt¥v& been prop8rty prepared in accordance with Llnit¢d Klngdom Generally Accèpt•d Accounlin9 Praclica.. and h8ve been prepar¥d in accordance with Ihe r8quirements ol the Charitkrys Act 2011. 8•91¥ lor opinlon: We cor¥Jucled our audit in accor¢JanGe with Inlernatlon81 Standards on Auditing IUKI IISA5 IUKII pnd applicable law. Our responsibililies unclar those 8tandards are lurther 08scribed in the Audllor's r88ponslbSlttles for th¢ au¢Yil of thè rinancial statements section of our report. We are ind•pendent of the Charity in accordance with thè ethical reoulr8ments that are relevant to our audlt of the finonclal Blalemants IN the UK, includlng th• FRC'S Elhlcal Stsnd8rd, and wg have fulfilled our olhgr elhic81 responsibilities in 8ccordans8 with th?8e requirements. W• belwe Ihal the aud51 evldencè we have oblain•d Is sufficienl and approprlal• to provlde a basls lor our opSnlon. ConcluBion• rgl•linq to golng concern.. In audillng the financial slal•m8nls, we have conclLMl¢d that Ihts Trustees, us8 ol the golng eoneern basls ol accountlng In ltta preparation ol the linanclal slal8mgnls is appropriate, Basad on the work we hav? performed, we hav• not Sdgntlfled any m8leri81 uncert8intl•s rol#tiThJ to event ol condltions th81. Indlvldually or collectively, mby ¢85t signif1canl doubl on the Charity'5 Bbillly lo continue as a going con¢8¥n for a pèriod of al least twelve months from wmen th8 flnancial statBment¥ are aulhorS8ed for13sve. Our rosponsibililies and tho re8ponsibililies of ihe Trus¢ee5 Wlth respect lo golng concem are dèscrtbgd In the r¥l¢vant sections of Ihis report. Oth•r Informallon.. The Trustees are responsible lor the olher information. The other information comprlse5 the Snforrnallon Included In the Truslees, annual rsport, other than tho financial slatements and our auditor's report Ihereon. Our opinion on the financial statements d085 not cover the other informaOn and. exc8pI lo Ihe exient otherwise explici1Sy 918led in our TEPOrt. we do not express any fomi ol assurance concluslon Ihereon. In connection with our audit of the financial 51818rnents, our r85ponsibility 15 to rBad thg olher information ènd. in doing $0, ¢onDider whether the olhpT informèlion is malerlally Inconsistent with the financial statements or gur knowledge obtained in Ihe 8udit or othèrwisè 8ppears lo be m8tèrially misslatad. Ifwa idèntify such rnaleria1 inconslslencies or apparent material misstslements. we are required to determine whether th¢r¢ is a rnateri81 misstatemènt in the financial 31olcmcntJ or u mDltrriJl miGGldluiniJiit of Iha ollior inTorm31ion. If, b368d on th8 work we havE performed, we ronC1j• Ihat there is a material misstatemenl ol this other tnformation.. we are required to report that fact. We have nothing lo report in Ihis regard.
REPORT OF THE INDEPENOENT AUDITORS TO THE TRUSTEES OF THE J REGINALD CORAH FOUNDATION FUND Ind•pènd•nt Auditorfs Report to th• Trusto•ts of the J Reglnald Corah Foundatlon Fund Matt•r¥ on whlch we are r•qulr•d to r•port by exceptlon: We have nothing to report in respect of the following mBtt8r8 in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if. In our opinion.. the information given In the financial staternents is inconsistent in any malorlal re8PeCt wlth lh8 Truste8s' report.. or 8ufficient accounttno ffj¢crfd$ have not been kgpl.. or the financial slalernents 8rè not in agreement with the ac¢aunlin9 r•cords', or we have not received all the information and explanallons we require for our audil. Respan•lbllltles of Tru¥tees: As •xpl8lngd rnore fully in the Trustsgs, reBponslbillli•s s1?t¢rn?nt set out on pag8s S, Iha Trustt•S 8r• respon$ibl8 for tha pr8paration ol financi41 Jtalements and lor being satisfied that Ih8y glv8 a tru8 and fair view, and Iof such Inlemal gntrol as the Truste&9 déiérrnine is n8c•ssary lo enable the pr¢poralion of financial Btstements that arg fr88 frum rnalerial misstatornonl, whether due lo fraud or error. In preparing tho linJncial statemènts, the Tru8tees are responsibla lor a$sèsslng Ihe Charity's ability to continuè as a going concern, disc105ing, as appSlcable, matters mlaied to going concarn and using the Lbjing concern basis of ac¢ounllng unless the Truste¥s either inlend to liquldate the Charlly or t¢ ¢è8se operadons, or have no re81ists'c alternative but lo do so. Audltorfg re¥ponslblllths for th• audlt af th• Ilnanclal •tat•m•nts: Wè have been appointed as auditor undef Section 145 ol th• Chorllies Act 2011 #nd report in accord•nce with regulations rnade under section 154 of that Aet. Our objectlV8s are lo obt¥in reasonable as8urAn¢v about wh•thr Ihe linancl81 slalernents as a whcsle are fre8 from material mlsst31emenl, whether dug to fraud or error. and to issue an auditor's report Ihat Includes our opinion. easonable assurance Is a high levèl of assurance, but 19 not a guaraniee that an 8udlt conducted in accordJnca wllh 18As IUKI wlll always det8cI a material misstatement when il exi515. Misslalemenrs can arlse from fraud or error 8n¢l are considere(I rnalèrial If, individu8lly or In the aggregate, they could reasonably Oe expected to Influence the econornic decislons of users taken on the basis ol IhèsÈ finanaal stalernenls. Irregularities, Including Ir8ud, are inglances of nonllcomplp8nce with law8 and regulalTans. We design proredures in I'ne wilh our responsibilities. outlined 8bove, lo delecl material miss131emènts in respect ol irregularilie5. incltsding Iraud, The specific procedure5 for thi5 engagement 8nd the extent lo which these 8re ¢8pabte of delectlng Irr6gularilie5, including fraud is detaid below.. We oblaln8d an understanding of th& logal and regulatory frameworks that are oppllcable to the Charity and Rletermined Ihat the mo81 significani which Bre directly relevanl lo specific as88rtions In the financlal 51èlements are those relat¢d lo the financial reporting frameworks (UK Generslly Accepied Accouiiling PractlC8. the Charities Acl 20111. We enquired of rnanagemeni. whether Ihey were aware of any instances of non- compliance with laws and reoulalions or whether they had any knowkdge tsf actual. suspected or alleged fr8ud,' We a55pssed the susceptibility ol tha entity's financial statements to tnalerial misstatement, including how fraud mlghl occur., Our testin9 considered unusual or unexpected journal entrS on a sample basis,. e evaluated the assumptions and ju¢J9ernenls used by management within signrficant accounting estimates and assessing if Ihese in¢Jicat8 evidence of management bia5'.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE J REGINALD CORAH FOUNDATION FUMD Indepondent AuditOT'S Report to th• Trust••s ot tho J R•9lnald Corah Foundatlon Fund Auditor's responJibilitle8 for the audlt olth¢ finonclal *tst•m•nts (contlnuedl: We lesled significant transactions. In partlcular the evalu•tlon of the busine55 rationa for any whlch appear unusual or outsKle the Charity's norm81 eour8• of bvsin88s', We assessed the appropriaten8S5 or the collect8 ry)mpetan¢$ and capabil(tles of the engagement team by underglanding th¢ practical experience with audit engagernents of a similar natura ond cornplexity, plus •nsuring th8 t83m had appropriatè and relgvant tralning ol th¢ fin8nclal reportlng framework and tht rolevanl tax ¢ompllance regul8lons specifi¢ to Ihts entity., We rovlewed thg flnancial ststements 8nd tested the dlscbsvre$ 8galn8t 8upporhng documentatlon.. We cornrrunicated rebvant rnatters to all mernbers ol the #udlt team to ensure they understood the rtsks speclflc lo thè èntlty and the audit proeedures pbnned lo m5tlgate thèsè. Bec8use L>f the inherent limltotions of an audit. thor¢ Is a risk ihal we will not detect 811 Irrègularftle8, Sncludlng Ihose 16ading to a material mi3stalement In the financial statements or non-compliance with regul8tion. This ri8k incre8ses the more th8t cornpliance wilh a law or r•gulation is removed from th¥ event5 and transactions reflèctad In th8 flnancial stslemenls, as w8 wlll bè less likely lo becom• Aware ol instances ol nUMpI18nCe. The risk also gr¥alar reg8rdin9 Irregularilies occurring due lo fraud r4lh8r Ih8n error. as froud Involves Intentnal conceAlm•nl, forg¢ry. collu81on. orr15519n or mi¥represent8tion. A lurther de8crfplion of our reBponslbllllios for the audll of Ihe Ilnanclal statements 18 located on ltte Flnanclal R8PQrtlng Council'j website at.. www.Irc.org.ukl8uditorsr•sponslbilllle5. Thls descrfptlon lom$ part of our audltor's report. W8 comrnunlcalfj with thos• charged with governanoe rooardlng, 8rnong other matters, the planned scope and Ilmirq of the audit and $lonificant ¥udit findings. includlng any slonlllcanl defl¢lencl85 In Snternal control that w8 Idenlrfy durlng our audit. U0• ol our r•port This report 18 rnede ¥obty lo the Charty'B Tru8te•s, 08 a body. In accordancg wlth Part 4 of th¥ Charitles IAccounts and Reports) RegulatK)ns 2008. Our audll work has baén undèrtak•n Sts that wo Mh1 Slate lo the Charlty's Trusto85 Ihose matt8rs w8 8r8 f8qVlfed to state to them in an auditor'5 r8POrt and lor no other purpose. To the full85t extent permilled by law, we do not accept or assume responsibility lo anyone other th8n Ihe Cb8rfty and Ihe Charity's TrustBes as body, for our gucjit work, tor thlg r8POrt, or lor th• oplnlons we hov• lomiod. The RDwleys Partnershp Ltd Slalulory Auditor5 Chartered ABcount8nls Ellgible to a¢t 4$ an au(Jltor in terms ol Seclqon 1212 of Ihè Companias Act 2006 Charnwood Hoysè Harcourt Way Meridian Business Park Lfjic¢3tor L£19 1WP Date.. . 2025
THE J REGINALD CORAH FOUNDATKIN FUND STATEMENT OF FINANCIALAGTMTIES FOR THE YEAR ENDED 31 MARCH 2025 Not Unr•trlct•d Fund• 2025 2024 Incom• •ndowm•nt• from: Inv•stm&nts 158.282 174.719 Totsl Ineom• and •ndowm•nts 158,282 174719 Exp•ndlturn on: Rg191rvJ funds Chadiabl• A¢tlvllltss 34,323 170.920 32,287 156,776 Tot•1 •xp•ndltur• 188 062 Nel galn61(1088¢81 on Inv$8tmenls 29,312 426,852 N•t mov•m•nt In lund• 117.8491 413.509 R•concllS•tlon •f funth: Total funds brought Iop44ofd 6,598.016 6.184.507 Tot•1 fund• c•rrl•d forw•rd e S80 367 8,598.018 Th• stAtyment cf Iln8nclal act111•$ Include8 all galns and loss•s recognls•d kn th• y•at. All In¢4)ming r•$ou¢o$ and msourc•8 expand•d derlve from c%nUnulng actlvth.
THE J REGII4ALD CORAH FOUNDATION FUND BALANCE SHEET ASAT 31 hlARCH 2025 Not•• 2025 2024 FSx•d Bs•ts: Inv¢stm•nts Cash h8td by knvestmonl manager for rfrlnve8trrnt 8,417,748 111,508 8207,806 321,938 8,529,258 6.S29,$44 Curr•nt a•¥t•: Deblors 21,405 91,848 21.948 75,824 Cash at bank and In hand 10 113,253 97,772 Cr•dltor•: •mount• l•lllng du• wlthln on• y•ar 82,142 29,300 N•t ¢umint •sMt•'. 51,111 88,472 N•t ¥¥•t•: 6 580 367 8,598,018 Ch*Tlty fund•: UnrgslT5cted funds.. Designated capltal account Genef81 fund¥ 12 13 6.453.474 128.893 8,458.485 139,$31 8,580.387 6,598 016 Approved the Trust•es on.......................... 2025. DP Cor•h Tha notes on pages 11-16 fofrn part of these acrounls, 10
THE J REGINALD CORAH FOUNDATION FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. Charlty information.. Th• J Ragrnakl Corah Foundatton Fund is o CharSty r•gist•r•d In England an(1 WaL8s (No. 2207921. It Is an uninctsrporaled Ch8rity governed by a Trust Deed dat•d 23 D•cember 1953. Th• Charlty's prln¢ipal address is.. 20 Welby Road, Asfordby Hill, M8lton Mtswbray, Lel¢èsler8hire. LE14 3RB. 2. A¢countlng poll¢les'. Bas1• ol *ccountlng'. Thè CtTarity constilules a publk bènefit entSty as deflned by FRS 102. The financ18151atemen15 have been kyeparéd In accordance wilh Accounling and R8portSng by Charlties.. Slal•m8nl ol Rècommènded Pra¢tlce applic8ble to Charities preparing their a¢¢ounts In accordance with the Financial Reportlng Standard appIabl0 In th& UK and Republlc of reland 155ued in October 2019, the Charltias Aci 2011 and the FRS 102 The Financibl Reportin9 Stsnd8rd 8pplScable in the UK and Republic of Ireland leffgclive January 20191. Thtr Charity is a public benefit entity. so has applled the specific"PgE" prelixed paragraphs ttf FRS102. The flnancl81 ststem8nls have been prepared on a 9tsir@ concern bosis as tharo ara no materi81 uncertainli88 oboul th Charity'5 abillty lo conllnue for tha foreseeab lulure. The preparation of lin8nci81 stst8ments in complignce with FRS 102 requires the us8 of certain critical arLounllng esllmates. li als0 requires rngnagemenl to exercise judgment in applylng the Charity's accounting poli¢ies1see riole 31. Tho Charity has takèn the available exemption undgr the Charlli&s SORP IFRS 1021 Upd¥lg Bulletin 1. 86 J srn¥ll•r Charity, to not preparg a Stat8rnént of Cash Flows. Inv•stm?nt¥.' InveBlrnentS afl 51aled at market valua. In the capital account realised gains or h)BSeS r&près8nl the dlffer8nce ba8¢n th8 procgods of sale and origlnal cost. UnT8alised 93ins and bJssèÉ represent tha diflerence btshvoetn mgrkel value and original cosi of the investment at Iha b8lBnce sheet date. In¢orn• Jnd debtors.. Divi¢Jend$ are brought into Ihe incorne and exp¥ndilur8 accounl on th• dato on which Ih•y are rec•ivablè in order lo b• ¢onsistent with tAx r•eords. Othor Incom¢ is accounted lor on an acciual's basts. Grants.. Grants are charged in the income and èxpendltur8 accouni on Ihts day Ihey are approved by th¢ Trustees. Expenses and Ilablliti•$.' Expenclilure is recognisÈd on an accrual's basis. Gr8nt5 Payab are ¢harged in ¢he year when the offer is conveyed lo the recipient except in those cas85 wher8 ttte offer is conditignal, such grants being recoJnise¢Y as expenditure when the conditions ar8 lulfilled. Grants offorod Sublect lo conditions are noted as 8 commitment, but nol 8ccrued as expendltufe.
THE J REGINALD CORAH FOUNDATION FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 IMRCH 2025 2. Aceountlno pollclo5 l¢ontlnu•dl: Expenses and Ilabllltl•$ leonfd.): Liabilities are ¢cnIsed as r8source3 expend8d 0$ $1)on Js there is 0 10941 or nStruCto obligation eomrnftting the Charity lo the expendllure. Expen(Jlture on rai$ing funds consists of Investrrent manager's fees. Expenditure on Charitab aelivil1¢6 conipfises all oxpandilure directly r•lallrng to the oblecl8 of th• Ch4rlty, specifically gr£nl¥ rna¢Je to providè charllable assista0 to Charities and other good eatsB. It also includ•s govèmxnce COBts, which consist ol 8xp•ndSlur9 on Trustees, remuneration and audit l••$. Fund¥: Unre5tricled funds. Includlng the desKJnated capital account, can b• u$•d in accordance with lh8 charlloble cbfrecdves al ihe di8crelion ol the Trusle¢$. Go5ng con¢•m'. The fin8Dcial statements have been prepared on a goin9 concern ba¥1¥ as th? Tru318es belleve th81 no material uncertalnlies exist. The Trustees have consldèrèd the level of fijnds held and thg expected level of incoma and exp8ndilure lor 12 rnonthg from 8ulhor18ing those finAnclal statement5. The expecled Income and expanditure Is suffi¢lenl with the level of reserves for the Charlty to be able lo contSnuu as a golng concern. 3. Aceountlng •stlm•t•#: In preparing the Flnancial Slalements, th• TNstaès are required lo moke estlmales and assumpllons whkh affect reported income, oxpen¥e8, a56ets, Ilabllilles and dlgelosur• of contlng8llt assets 8nd liabl1lIes. Use of avallable SnformBllon gnd application ol ludgèrnenl are inherent In the forrnatlon olestlmates, together wlth exp•elations ol futur 8V8n15 th* 8rn bJll8v8d to be reAson8bla und•r th$ ¢lrcumstsnces. A¢lu81 results In Ihg lulure could differ Irorn such estimates. There are no key assurnptlon5 or other sources of estlrnatlon th81 have a signlflcbnt rtsk of causlng a rnaterlal adluslmonl to the ¢8ng values ol as8eis and Ilabllths wllhln the next fln•nclal ygar. 4. Inv•$tmonl Sncom•'. 2025 2024 ONidends Received and Intere51 on GIKS 158,282 174,719 158282 174.719 12
THE J REGINALD CORAH FOUNDATION FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 & R•ling lundl: Net charges albcatad to th8 d88lgnalod ¢aph81 account In the year to 31 March 2025 totsllin £34,324 are rnade up as foNows:_ 2025 2024 Trustee Indemnity LlablKty Ingtsran¢• Brokers Inveslment Mana98m•nl FèÈs Adminlstralon fees attrlbulobl? lo capital 273 30,051 4,000 34,324 272 28,015 4,000 32,287 6, Ch•rhabl• •xp•ndltur•: 1025 2024 Appeal grants Annugl list 9rant8 Gov•manc• coats Inot• 7) 125,720 28,200 17.000 170 920 110,875 28,200 18,700 155,775 All grants w•r• In•tUtIonal grani¥. No IndNldual gr8nl8 w•ra mode durlno th• ygar In ac¢ordanc wlth the Trustees grant mèklng pollcy. 7. Gov•m•nco co•t•: 2025 2024 Trust8•9 fe8s & expensas Auditors ffjmunerallon Admlnigtration exp•nsa8 7.200 4,800 7.200 4,440 16,700 The 18•8 payable ol •#ch trust•• w•re as follow8.'- 2025 2024 D P Corah Esq. R 8owd8r Esq. JJ Pear8 Esq. 2.400 2,400 2,400 2,400 2,400 2400 None of% truÈi•a8 ra[*d 8ny relmbursemont from Ch8rity in respect of out of pock81 •xp8nse8. 13
THE J REGINALD CORAH FOUNDATION FUND NOT&8 TO THE FINANCIAL STATEhlENT8 FOR THE YEAR ENDED 31 MARCH 2025 7. Govern•nce costs Cont'd: The admlnl$trotkJn exwn508 for the year to 31 2025 tyre as follow8.. 2025 2024 Accountancy & flnandal Admlnlstrotion Bank Charg•s 5,000 5,000 60 S,060 5,000 a. Li•d Inv••trn•n 2026 Fotdgn UK Totsl UK Forel Tolol E9thQ1 Bonds Olh8r Fund5 921,817 3,79),494 4,712,411 889,825 3,675,190 4,565,015 443,259 405,729 848,988 365,234 530.619 89S.8&1 856.349 8S6,349 746,738 746,738 .80 InSInIS h#d bgw clrrfid at N8torfc cost th•y wo teen Iluded at £5,033.& M •131 M•rch 2025, CMrnd wilh £4,742,731 as al 31 Mah 2Q24, ¥} Th tllcthiry reprnBenlg ow S% by oflh ptlIk>.. Vanward FuTrds PLC S+P Sts) Findlay Pork US Pwtners JP Morgan US E9Urty 01 M*G J8Pon FLmd £472,CN 12024-E456.3881 £590,730 12024- £605,815) £S96,744 1SJ24- E585,2471 £324,139 12024. £357,4) 9.20% 9.30% 5.05% bl ch8nge In Mathel Valuo: 2025 2024 Market ValuB at 31 March 2024 Purck4$•5 at cost Dispc6al proceeds Rg¥1is8d gal<105$) on InStMentS Unrealise4J gairllbs$l on in$1mlS 6,207,806 1,722,244 11,S41,4141 18,804 10.428 6,417,748 5,733.840 1,382,414 11,335,500) 23,624 403,228 6,2D7,6C6 The not in rna1 lu¥ olinwslm•nts shwn on th• Stslement ol Finer101 ActiI4tl85 COrnPri5es rnali58d arKJ reIsed gyins aTrJ losses duriry the ygyr. 14 THE J REGINALO CORAH FOUNOATION FUND
NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 9. Debtors 2025 2024 A(£rued income 21.405 21.948 10. C•h at k and In hand: 2025 2024 Uoyds TSB PIC C8zenove {incorne accounti 49,783 42.065 91,848 20,785 55.039 11. CredStorJ (amount• du• wlthln on• ymrl: 202$ 2024 ArU41$ 29,300 12. D••lgn•t•d c•pllal •ccount: 2025 2024 Balanc• brOLh1 forward R•#llstd profll Iloag) Unreall¥ed proffvllossl Ralslng fund$ Balan carrS8d fow8 8,458,48S 18.885 10.428 6,063,920 23.624 403,228 6 453 474 6 458 485 Thèse funds are hekd by the Tru8te•# for wrpos8s of the foundalton as by Ihe prlrtclpjl objectlves on page 2 of thesÉ accounts. 13. G•n•ral fund•'. 2025 2024 A¢cumulat•d r960rves bought forward Nèi incomlngloutgolng resources for the yar Accumulaled r•$wve8 oarri8d lomard 139,531 12.638 126,893 120,587 139531 Theoe funds 8rg hekl by tho TnJst¢•s In accord5n wlth th•lr res•rv85 policy as set out In thè Trustee's Report on ptye 3 of Ihese account8. ts
TrIE J REGINALD CQRAH FOUNDATION FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Amocatlon ol a89•ts bolw••n fund: As al 31 March 2025 th• 958&ts are alkcated as follows:. ToLl DBJlgnat ea Ilal •lc O•n•v•l fund Ll8t•d lThvMlment• 8,417,748 6,417,748 Ca•h hold by Inv•Btm•nl 111,508 35,726 75.782 N•t curr•nl a•$•t• 61,111 61,111 6 580.367 6 453 474 125.893 15. R•l4i•d PQTty tran¢tIon#., Durlng tho year the Ch•rtty paid prof•ssk*nal I$ of £9.000 a8 lollow8'. £9,000- Cor8h and Corah Ltd, whlch18 015mlled company In whlch durlng the year to 31 frA•rch 2025. Pot•r Coroh ID P CorBh- tr(tgte81 kry a Olm¢tor.12024- £9,QOOI Mr DP Corah and Mr JJ Pear5 are ?th on th• Court of the Wor8hlpful Company of Fr8mework Knltttrs •nd th•r•for• arg aulomalically Trustees of The Flamow Knlttorg Cottage Homes In O<y, Leic8stgr8hlrg whlch raeoive¢J b grant 01 £12.50012024- £20,000) durin9 Ihe year to a5315t In the rtsbulldbng ol almshouse8.