THE RATCLIFF FOUtiD.4TION TRLSTEES, REPORT AliD FIPIANCIAL STATE.MENTS YEAR ENDED S APRIL 2024 [L_fvL CHARTERED ACCOUNTANTS
THE RATCLIFF FOUD4DATiofi CONTENTS Reference and A(hninistraiive Inforniaiion Trll8tees' R¢pon tnd¢pendeni Examinefs Report Stsie]nent of Financial Activities Balance Sheet Note$ to the Finan¢i81 Stytements 9- 13
THE RATCLIFF FOUDATIoN REFERENCE AND ADlsTRATIVE IhTORIIATIOY Registered Charlty P4urnber 222441 Founder Martiu Rowlinson Ratclrff Trustees David Martirt Ratcliff - Cbairma CarolyD.Margaret Rat¢li Gillian Mary ThoT Honor Pauline Key Cljrislopher John Gupwcll Secretiry Christopher John Gupwell Addres Woodlands EaTl$ Common Ro&d, SloGk Grcen Rethlitch, Worceskrshye B96 6TB Bank¢ri Lloyds Bank plc PO Box 10(K) Binnillgham BXI ILT Sollcliors Shak&%peare Manineau LLP '0. I Colrnore Square Birniingh8m B4 6AA Accoiintants Shona Cer Limi*d Grove Farn Bungolow Liw(Mnb Nr Siourport-on-seve Wtsrre8ler5hire DY13 9RB liive&tment MAty#ger¥ RBC Br¢wirb Dolphin Limited The cha1n Buildin8 81 Colmore Ilow Birniinglwn B3 2BA Independent N Simkim FCA SinikitL8 A&qociaies Bull Farm Main Koad Greai Haywood Staffor&shLre STIS (rtF Day lo day llLanagetn¢nl of the FollndatlOD rests with thc Secrewy. Grant applAcatiort$ thould b¢ sent to bim at the addr alK)V¢.
THE RATCLIFF FOUD4DATION TRUSTEES. REPORT The Tn]stees present their Ye[rt and th¢ finon¢iAI statements for the year erldcd 5 April ?024. De13 of the Foundation's operaiii)ns dUrll the year are bet out in the financial sth(ements on pages 7 10 13.'IThe preseotatsort Complies the Cbariii&% Act 2011 and the A¢¢ouoting Ènd Reporting by Clwities.. Siatejneni of ReeoJk)mended Pr8Ctice applicable to charitie$ preparing their a¢cowits in a¢¢ordante with the Financial Reporting Standard applicable ill the UK attd Republic of Ireland IFRS102Meffective l jUary 2019). The aCcoun1g policies adoptrd by the Foundation are set out in Note l on pages 9 and 10. Strueture. Governu¢t Dd MADaEemtttt The Charity is governed by a Deed olsettlemeni dated 12 August 1959. The Foundation is regisiered with the Chhrity ComMilOn. registrauo number 222441. and has been accepted a5 a chariiy by the Inland Revenuc. AS such 118 income 19 exempi from iuaiion Éo lon8 it ¢ontinu¢s b¢ us¢d for charitable purpos&s. The TnJslee8 who Berved dllrg the ye4rare set out 011 pa8e 2. The power lo oppoini truste 1$ vesied in the rernaining Trustees. All mailer5 of policy find TtLanagTemeat ¢ dciernjined aL the regular meeliw vfthe Tru$es, usually held three timu a vear. Pro8pe¢tiv¢ Trustees we invited to m¢¢i exi51in8 Trustees 8nd an¢nd at least one oftheir ineelings. They are provided with extracts from tlie Tntsi t)ced, infom)Aiion relati08 to the 8iins ofihe Tnjst and ¢opie8 of th¢ Tntr8 accounts. They are made awAre of the time they should exrttt to spend on matlen Ind Ilic r¢sponsibililies Ihot Trusieeship involv&4. They become 4ignaii)ries on the bank at¢ounis and when &ll f(irnJaliues are complLle they are welcorned as fully workin8 Trusltts. Truslees are ¢our&¥¢d io mak¢ Ihetii%elvcs NWAre of ¢hao8e4 in ¢haiily law and prKti¢¢. Piibllc Bertefli The Truslee5 coiifirm tjiat they Ive paid due regard to the guidance 8iv¢tt by the Charity Cr)mmi8ion on publi¢ benefiL Bjjk M*nog¢m¢n¢ The Tru51ces kecp under rcVic. the rnajor strategic ar OPCTaLionaJ rL5k which the C.'hority fAtes 8nd ate ¥ati$fied thai sy%tenL8 have been <<tsblished in order 10 rninimise the possible effects of such risk5 on theclwity. Settlement Provlslon5, Objecilve8, Attivitiey and Grants Policy Th¢ Foundaiioii'4 ton$tittLtson requirt8 thèi the'rnL9te should apply its income for the benefLt of Such charitsblc inslitulions and objects as the Trsle¢S o]av ¥cl¢cl, but Pr lud doryatio lo itldividuals. The I"rustess have total discretion over the value of grants made the recipients thercof and cousider that all grants made are for public benefit. Detsils of the gT&nL¥ madv during th¢ year thown Dote 4 to these financial siaicmci)t8. Any distributablt iticomc rctnainittE ai the end of the year is to bc paid to the Coventry Diocese La)'tnan5 Appeal Fund.
THE IL4TCLIFF FoifNDATION TRUSTEES, REPORT {conlinued) SettlemeDt ProviSiOD4 Objecdves Actlvitiu Gr#nts Pollry (continued) The Foundation Continu during the lifetime of the survivor of all the lineal de5Ge[Ldats livinE ai the date of the Trust Deed of his la Majesty King GeoryE V and for twenry one years afier the death of ÉLLeh survivor. At the end of the tnLSi wiod the trwsi fimd will be paid or transfeTred to th¢ Cov¢ts¢ry DIOG¢ Lann3 Appeal Fund. li is the of the Tru5tecs. bottl presendy at)d ill the re, to maximize the income, ¢Ongi¢t with the i$h 10 inaitLtarD the reAI i'aluc of the Ttusl's Endowed Fund in oideT 10 Brntti much as pts&ible lo charithlc inslilulions, Achlev¢menl4 PcrforrnADce ADd Going CoDeer• 48 grdryls were made in the yr iothlling £172J02 compared with £166,500 for the 58 grants in the year ended 5 April 2023. Th¢ vfilue of the portfolio at 5 April 2024 was £4.232,040 comp8T¢d with £4,065,124 twclve nionthg earliu. A nei surplus of £124,004 ara on investments sold durin8 the year. The TNs¢ees nsider ihat th¢ l¢vel and nAtu of the fuwKial reservu ai 5 April 2024 do noi impa¢t uJy)n the wumption that the Clwi'ty is a Goin8 Concern. FlnaNtlol Revlew Thc financial siatein¢nts for the year di%lose ih¢ detai15 ofthe Chan't9 rinancial tran8aclion5. The Foiindalioll'9 Lncome ari$es from its inve%Mitnt portfolio, funds held on dcposil by Ihc Charity's invesiineiii maiiaBers and IlkerS and froin Ih¢ F K Ralclifl'chariiable Seiilement, whose iti¢omc i5 paid to the foundation h y¢ai by way of a grnnt. The Founduliort's to1 income for the year amoun1 to £198,016 compared with £211,074 in lh¢ yw ended 5 April 2023. In thc TtU5tce5' opinion the Bo14wce Sheet th"sclo8es fithdg adequatc for the purpo of fvlfillitig the obligatiOJ15 of Ihe Ctwity for the foreseeable future. Reservey Pollc) Thc Trust DEEd rquir¢5 the Trusiee5 lo dtribilI¢ fully the Charitys income each year. Income relaiinE 10 the year but not reccived by the year- end may T¢fiLain ujidistributed ai dje balance sheet dats. At 5 April ?024 £25,055 had been r¢¢ain wmpared to £?5.605 had been retaioed at S April 2023.
THE RATCLIFF FOUFIDATION TRUSTEES, REPORT (continued) Investment Pollcy TheTe are no restrictions on the Charitys power to itLvesL The Tntste have appointed Invc5tme]]t MallageT5 Otl a di5Gretionary basis who report ro the Trustee5 ai their ]Egular m¢¢lings. The Twstee8' aim is to producc an inc4)me retum to ejjable them to contiDU¢ th¢ level of their grdllt lllaking eonsislenl with maintaining the real value of th¢ of the TrnsL Thc investmeni strategy is se¢ by the Tn{eeS who consider the income requirements. the risk profile and the Itlvestment Uanagers, view ofm8Tk¢¢ prospects in the TncdiuTn teTm. The fiuth may be in any type of investrnettt. Truitee$' Responslbllliles ID r¢lAtioD to the FlnAncial Statements The TTU$tee4 are re%tK>nsible for preparing the TnLs¢e¢s' Rey>rt and rinancial slatem¢nts in a¢¢ortsUc with 8pplicable law and United Kingdom Awounting star&s (United Kingdom GencrB]ly ArGep*d AcGwnting Pwiic¢). The law &pplicabl¢ io chan'iies in Engla1 & Wales requires tht Tnle¢S to prepore financial siatements for each finan¢wl wknich give a mie fair vicw of th¢ sia(¢ of8lTAirs of Ihe Cliariry find Of incomin r%urCeS and the applicaiion of the resouTC&S of ihe Chariiy for Ihai peiiod. Itl preparing the fiMn¢i81 $tsiemen¢s the TnJsie48 are r¢<pJircd ro.. 8tlett suithble accouniing policies And apply them consistently., obs¢rve the methods ttT principleg in the Chariiie8 SORP; make jud8em¢nts eyiimatrs that are TOnable Ind pnjden Stsle wheth¢r applieELble accouniin¥ s(Andard5 havc beeji follow'c $ubjcci lo any material dcparturcs diKlosed aDd exp14Lined in the financial skwnents; prepare the rEnctI1 strttcmert¢s on a goi1 ¢on¢¢m b&¥i$ unless it 18 illAppropria¢e io ¥ssum¢ the Charity will CODtitiue 10 operaie. Th¢ Truste are responsible for keeping properoni1ftg rrcord8 th81 discloge willi rcasollable accuracy al ati). tim¢ Lhr fit]aJicial Frf)siiion ofthc Charity and enable th¢m to EL%ure thai dje financial ststuncllts coJJ]plv with the Cbariiies Acl 2011. tbe Lharily (Accounts Rqrtj Regulationg 2008 and the Trust Deed. Thry arv lliso respon%ible for safe8uardin8 the 8sscts of th¢ Ch8riiy and ljence for iakllLg stCP5 for the prevetttioD W]d d¢¢¢clioii ol fraud and other irregularitits. Approved by thr TrM51ees slgThed oil their l)ehxll: D M Ratcilff
Ir4DEPENDENT EXATrIINER'S REPOKI. TO THE TRL.STEES OF THE IL4TCLIFF FOUNDATIOTrq I tepDrt the Ttee8 on my exarDiDaiion olthe Jtcolltsts of the Clwity for the year ellded 5 Aptil 2Q24. h1¢h art sei oui on pages 7 10 13. This report is made 501ely to tbe Charitys TnJsleGs, as a body. in accordancr with Regulalion 31 of the Chariti&8 (Accounts alld KepoTrs) K¢guloritsn$ 2008. My work h&8 beea undertaken 50 that I migbt $thtt to the Cljarity's Truslees those matiers l artl iequired to Sthlt to thcm in an mdepend¢ni examineV$ report and for no other purpose. To the fullesi extent penniiied by law, I do noi accept or assume r&s]y)ll5ibilily ¢0 anyone othLY that) the aMriig8 Trustees as a body. for my %'Drk, for this repon. or for the $wement T have mth. Respon51bllltles xnd ba518 lor Report As the Charity Trusieu of Th¢ RaiclitTFoundation you are TesporL8ible for Ihc prepdratio)n of the accounts in accordance with the requirements of the chariti ACL 2011 I'the Act). I report in respect of my e.xaminaiion of the Charli$ accounts ¢all7ed out under 9c¢lion 145 of ihe 2011 Act And in ca¥r)ryllg out my ex8millation L have followed all ihc appliLabl¢ DirectioDs givell by thc Charity Commissiots under 9ection 14515)Ibl of ihe Act. Independent Eximluer's StAtement I have eomplcted my examillaiion. I confirni thai no material m8tttr8 have come io my 8i¢eJ)iion in connection with the exarvi08ti0n giving me uus¢ lo believe: ac¢ouriiing re¢ord8 were not kept in resp1 of the Charity a8 required by $¢¢tittn 130 of the Aci., or the accounis do not a¢¢oTd wi¢h th%x8e records: or the a¢couni¥ do not comply with Ihc accounling re4uirem¢nts ¢on¢¢rnin¥ thc forni and ronleDI of the accounts sei oui in tjje ClntIeS (AG¢owiis 8nd Rcportsl Re8uialions 2008 other than Y requiJement ihai the accounis give a'true and f3i¢ view which is noi a malter consid¢red pan of an independent exwuirjation: ( the accounL8 havc noi bccn prepared in a¢¥ordance with th¢ methodi and and prÉncipl¢s of lh¢ Statement of R0MmLdeAl Praclice for Counn and r¢F4)rtin8 by charitie5. I have no ¢0Th¢¢rn8 and have comc acr058 DO other maiten in ¢onn¢ciion with the eX)ilnatIOn ¢0 which 8lt¢nlioii ¥hollld be drawn in illi¥ report ordcr to cnHble a PfQPEr tsnder8iandi of Ihe accoiini% to be reaclied. Nicholas Simkln% fcA Simkiw A&%)ciates Bull farm Main Ro#d Great FIaywood Statford8hir¢ ST18 OTF
THTr; ItATCLtFF FOL.NDATION STATEMENT OF FNcIAL ACTIVITJES for the year ended S Apr1] 21124 2024 EDdowod Fund 2023 Endowed Fund Income Futtd Total Tot&1 Ineome and E¥peDdlture Income,. Volunthry tncorne Grant from FR Raicliff Charitsble 5ertlement 60,989 60,989 54,020 54.020 ttLVCStmeni income Li$ied invesunents Deposit interesi 137.027 137,027 156.631 423 156,631 423 Tor41 itlcome 198.016 198,016 211,074 211,074 Eypenditure.. Cost of rai$in8 fund4 Investment rn8nagemen¢ fees 14,688 14.688 26,359 26.359 Charitable activities Inconie Fund Qr8nts (note 4) 172,502 172,502 166.500 166,500 Other costb. (note 5) Ineortie Fund Endowed Furtd 26,064 26,064 15.636 15,636 CONI of ¢h4ritsble activilie9 198,566 198.566 182,136 182,13(? Total expendilure 198,566 14,688 213,254 182,136 26,359 208,495 ot CzalngllL0s5eg) on Inveslm¢nt8 Endvwed Fund RlIsed Unrealised (note 6) I24,m 59.670 124,(X)4 59,670 I75.2U9 175,209 (493,4091 1493,409) 18J.674 183,674 (318,2001 1318,2001 r4et inoverneni in fund$ 1550) 168986 168,436 28938 {344,559) (315.6211 Total Funds brouglil forward al é April 2023 25,605 4,071.194 4,096,799 ,333) 4,415,753 4.412,420 Tot41 Fund8 carried forward at S Aprll 2024 £25.055 £4,?40,180 £4,265.235 £25,605 £4,071,194 £4,096,799 Je notrs on page5 9 10 13 fonll part of th¢8e flttancial sleMenL8
THE ITcL[FTr FOi)NDATION BAI,ILNCE SHEET S Aprij 2024 r4ote5 2024 2023 Flxed Assets Investments and unitsv¢sted c&8b 4240277 4.071,290 Curre1 A&set5 Bank ba]Ance8 Debiors 31,890 1.980 29,859 33,870 29,859 Less Li*blll¢les: amounts f41]in8 du¢ within on¢ year {8,912) (4,350) N¢1 Current Aets 24.958 23,509 Net Assets £A265,235 £4.096,799 FuDds of the Chorlty Endowed Vund R¥51Ti¢tcd 4,240.180 4,071,194 b und Uure4tri¢ied 25,055 25,605 Totsl Fund$ of the Ckwity £4.265235 £4,096.799 The noifys on pa8e8 9 to 13 fomi port of the8c fmancial statnent Approvcd by the Tnk8tres on god signed on their b¢11[.. D RateU(r
THE RATCLIFF FOUL¥DATION NOTES TO THE FIP4Af4CIAL STATENIENTS for the year ended 5 April 2024 Actounting Policie5 These finth¢ial $iai¢ments have been prepared in accorthee with the Accounting and Reporting by Charill.. S¢alem¢nt of Recoxnmended Practice appliGable to ¢haTiiiU PT¢paring their accounts in accordance witii the Financial Rep)rling Stsndard applicable iu the UK aDd Republic oFlre]BJLd (FRS IO){effective l January 20191 and the Chan"ties ACL 2011. The Foundation conBlitutcs a public benefLI ¢nUly ag defmed by FRS 102. Th¢ parts¢ular 8ccounting polici&8 wjopled are hs follows: la) ArKoun¢mg Conv¢ntion The fancial siatements are prtparal oo the hi5rorical c05t basis of 8¢ctsuniinB modifi¢d to incjude lisied inv¢5tm¢nts at market value. Incoming res()UTCeS and the appliralion of those resre£S have been a¢¢oun¢ed for ynder the accn]a18 basi5 ofaccouniing. (bl Listed Inves¢men Listed itLve8unent8 held as red assets are sthd at market value le&s wjy provisioth for A pemwienl diminuuotl in value since the b&l&ll¢e $heet date. (¢1 Investmeni Gain8 and Los8¢$ R¢ali$ed and unrealised gains attd losses on invesunen18 are acc4)unted for ihn)ugh the Endowa Fund. Idl Investment Income Gr8DIS Income from investsn¢n¢8 1$ &cfyx)unied for in the year in which il i8 receivable. In¢eresi on depo8iL8 is accountcd for in the year in wliieh it ts received. Grants receivablc frojn the F.R. Ratcliff Charitable Settlemeni a¢¢ounied for in the year lo wliich they relat¢. {e) Expcnditure Chariiuble grants arc OnIcd for in thc year in whjch they are approved by thc Trustrcs aldiou¥h poyment may noi be made until a futurt dN*. Costs of gcneraling fuii(L5 and cxpendiillre on Rovenwjce. support and administration are Brcounicd for ID thc year lo wbich d)cy rel4t. These coyls coinprise all r05ts rnvolving the public accounthbility of the rhariij and ilg eompljancc with regulation and uood prxctice. Sucli costs include tILose relaleil to Ihe indq)endenl examinerfb ftts log¢¢hrr with afjr(rtJnl8n¢y. athinistralion ld other bUPI)tsrl CO$ts. Atiy apportiorJJllents are based on the TnL%iees' besi estirnaies carried out ott a rwonablc aÈMI coDsisLenL b&%is. Expendilllre inclLth VAT wbirh caDnoi k rttovered and wthich ' TCPOrt¢d part of th¢ expEndJMre to which it relales.
THE RATCLIFF FOUNDATIO.N NOTES TO THE FINMCIAL STATEI¥ILYTS {contiJwed) Year ended 5th April 2024 Accounting Polities IconliDued) lfj Fund Accountills The tncome Fund is avai]abl¢ ¢0 spend on 8rallts th charithble organisatiOE)8 and the governallce alld admitlistsaiioll c05rs of the Chanty. tnwme olthe al nol rffelied bv the Trusw ai 5 April 18 carried forward for distribuiion by way of gTHnt in the following ye. The Eijdowed Fund represellL8 Ihe Charitys etLdowmcnL The Trusit have deGLdd io restrict ¢xperLdilure froru this fwid the fees charged by dje Chariiy's Tnvestmeili Managers which they COlder rEl&lc to the managetneThl of the investtn6nl n[ollo. Igl Cwh Flow Staiem¢ni The Charity 18k¢n fydvantsge of the ex¢mwioD 8V8dable under the Charities SOIiP (FRS 102) Updaie Bulletin I not lo prepare a Cash Flow Ststem¢ni. Taxailott The FoundBtion 18 a registered charity. number 222441, thd is exempi fro Income"lax. CorFx>raiion Tax and Capithj Gjins Tux prowded it8 income and 8aiE18 are applied for charitable PUTPTr5es. Stiff Costs, Tru$¢ees' Remutyerathbn and Other Bentrllts There were no thll or pari lime employees during th¢ year or during lh¢ previous year. No remunernti(>n paid or poy8bl¢ iTh respect of the ye4r out of the fun(L8 of Ilic Foundaiion ei(l)cr directly or IndirtlY ¢0 any Tru51ee. Mrs J J Gupwell, Ihe wife of a Trwiee. rc¢rivcd £12,035 (20?3 £IO.3241- for a¢couJJtin¥ and 8ecr¢larial 8etvices Provided the Found&iion. No ¢xp¢n$ w¢ff r¢imtALrsed to any TnL8tee durn)8 the ye4r. 4. Grants 2024 2023 Grants to Or8ani8atioDS- 48 12023- 58) £172,502 £166,500 Th¢ 2024 fJ&TUN Jbove include the followiD8 material grants: Fan for City Cbiidre Frozen Light Marliiieau G&nletJ$ Far¢sha Midlarjds House on the Comer Community Project Oa8i8 . 4.0(KJ 4.000 Forward 22.0(M) o-
THE IL4TCLtFF FOUNDATION NOTES TO TIIE FINAT4CL4L STATEMENTS for the year ended 5 April 2024 {GOTLtinued) Grants {Gontinu¢d) 2024 2023 rorward 22,000 5.500 6,000 3,588 Small Woods A¢110 C8rdiff Wie¢lGhair Tennis British Blit Sport Dogs lor Good Harbury Church Ilean of E,nglat)d Forest The Macular society The.Vlylon Hospic Warwickshire & Northampionshire Air Ambulance Wtrwickshire Wildlife Tntsi Cancer Research UK Cothvridgc c.hurch Kidney R¢Sreh UK Day C.entre The MlId Centre Royol National Lif¢boai Insiiwte. Swan8ge St Richard'8 Hospice FOUndlOn Wor¢ssiernhir¢ Animal Rescue Centre .8urfer¥ Against Sewa8¢ NAtionAI Dance CompAny Wai 04preys Wheel¢bair Rugby Si David's Hospice Zoe's PlJ¢e Ru.%hwick C of E Primary S¢hool B¢Ll8CW(Jrth CE Acadciny Feckenham Viiiige Ameniry TDJ81 2,940 4.000 4,000 4,000 4,000 3,000 5,000 5,000 10,( 17,0 2,700 5,000 3.300 3.000 Gra[LI of £ty5(K) and over Grmts undcr £2,5fJ) J2 {2023- 28) 16 12023- 301 146,0?8 26,474 115.250 51,250 To1 Grants 48 {2023 -58) £172.502 £166.SOD Grants to chArithblr orBanisalion4 are nornjally made in early April th year. In cases of exceptiotwi ne1 grants may bc made at time5.
THE RATCLIFF FOUNDATION r40TES TO THE FINANCIAL STATEIIENTS for the year tded 5 April 2024 Icthjtinued) 2024 2023 Other eogts Secretarial, adistratIOtt alld awountanry Indepertdent exatninerfs fees 20,375 5.550 139 10,804 4.7 132 £26,064 £15,636 tDV¢Stm¢nts The porttolio CODSiSt5 of boldings listrd a re¢ognisd $¢ock exGknge. 2024 2023 LE8ted Investment• Coit At 6 April 2023 Addiuons Cost of qales 3,480,065 3,320.216 542.881 582.782 1435,635) {422.933} At 5 April 2024 3,587.311 3.480,065 Market I'alue Adjuitment Ai 6 April 2023 Adjusun¢nt for th¢ yeAr 585,059 1.078,468 59,670 1493,4091 A¢ 5 April 2024 644,729 585,059 M¥rket V*lu¢ it S Aprll 2024 £4,232,040 £4,065,124 Inv¢stmcnts At l¥larket Value tornprlxd: rixi,d inlL're8t Equiti& Utiil Sts 544,341 477,487 2,280,271 2,138.015 1,407,428 1,449,622 4,232,040 4,065,124 8.237 6,166 Uninvested c&sh £4,240,277 £4,071,290 Ail inve8iJnenl assets were held ]thith thc UK. At S Apnl 20•4 thc lollowin& inv'eEtmenL% iiidividually rcprcsenied in cxGeA53 of 5°A of the value of the portfo120. Marke( C4)¥t Vanguard US Equity IDcome Fu1 InGotn¢ UTLit5 8.53 £198,730 £361.110 Debtors 2024 2023 F R Ratcliff Chatitable Setuemeni 1,980 12
THE RATCLIFF FOLfiDATION NOTES TO THE FIANCIAL STATEMEYTS for the ye#r ended S April 2024 (continued) 2024 2023 Li•bUitleg Amounts fdho8 the within one year Shona Cutler Limited Sinthins AciateS 3,962 4,950 4,350 £8,912 £4.350 An*ly81$ ol Asset$ bttweeii Fund$ Income Fllnd Endoived Fund TotAI Breakdown of net Assets xt 5 Aprll 2024 Li8ied investments C&%h hrld by invc51tncnl mallaB¢r Bank balanccs Dcbtors 4232.040 8.140 4.232.040 8,237 31.890 1,980 97 31.890 1.980 33.967 4,240.180 4,274.147 Liabilities (8.912) (8,912> £25,055 E4.240,180 £4,265,235 Bre¥kdown of net is8ets at S Aprll 2023 Lisied invu¢m¢n¢s Cash hcld by invcslment manager Bank balances 4,065,124 6.166 {96) 4,065,124 6.166 29,859 29,955 29,955 4,071.194 4,101.149 Liabilities (4.350) (4.350) 25.605 4,071,194 £4,096.799 Thc Foundation ha5 tw'o fihnds. thc Jncomc FuDd ihe Inth)wed kul. The IDGom¢ FuJ]d Gon5is15 of wirestritt¢d inrome all of whi¢h, tf recei¥.¢ mugt be dLStribLLknI each ycar by S Apnl. Thc Endowcd Fund forn the FoundaiioJi'N endowttjeni and is not available lor distributio 10, Connected Ch4rltv Th¢ F.R. Ra¢Gliff Charitsbl¢ SeitlLmeni is a conrtetied charity. All the Trustee5 of the Seftlement are Trustees of the Foundation. The two organi%&tiotLS haTrr joint Trustees, meeting%. Itl older to miThittLi5e admini51tativ¢ ros¢s the Charitable S¢ill¢ml pays thr whole of ils income each year to The Raicljff Foundatioll by way of gratlt. 13