The Astor Foundation
Trustees’ Report
and Financial Statements
for the year ended 5 April 2025
Registered Charity Number 225708
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
INDEX
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’ report | 2 |
| Independent auditors’ report | 4 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Accounting policies | 9 |
| Notes to the accounts | 11 |
THE ASTOR FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
CHARITY INFORMATION
Trustees
Charles Astor (Chairman) Robert H Astor Esq The Hon Tania Astor Thomas Catchpole Professor Sir John Cunningham DM, FRCP, KCVO Dr Matthew Gibbins
Principal office
230 Merton Road London SW18 5JQ
Charity registered number
225708 Secretary
Ms B Doyle
Auditor
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Banker
Coutts & Co Adelaide Branch 440 Strand London WC2R 0QS
Investment Adviser
Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU
Page 1
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
TRUSTEES’ REPORT
The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 5 April 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
STRUCTURE GOVERNANCE AND MANAGEMENT
The Astor Foundation is a registered charity constituted under a Deed of Settlement dated 31 October 1962 between the then Lord Astor of Hever and the trustees.
The Foundation is controlled by a board of trustees whose members are elected by the trustees for the time being acting by majority.
New trustees are selected on the basis of the contribution that they will make to the governance of the Foundation and the skills that they will contribute. They are provided with copies of the Charity Commission’s guidance to trustees and given an introduction to the activities of the charity by the existing board. Existing trustees are provided with training as and when required.
The administration of the Foundation is delegated by the trustees to its part-time secretary.
The management of the Foundation’s investments is delegated to its investment advisers. The investment objective for the year under review was to achieve an overall investment return equivalent to RPI plus 2% over a rolling three year period.
The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by monitoring the performance of the investment portfolio, by operating controls over the Foundation’s bank accounts and by initiating background checks on applicants for grant funding, they have established effective systems to mitigate those risks.
OBJECTIVES AND ACTIVITIES
The Deed of Settlement authorises the trustees to apply both the capital and the income of the Foundation for or towards such charitable purposes at such time or times and in such manner as the trustees shall in their absolute discretion think fit.
The Foundation achieves this object by provision of grants. In determining the means by which the Foundation shall achieve its object the trustees have had regard to the guidance on public benefit issued by the Charity Commission.
ACHIEVEMENTS AND PERFORMANCE
During the year under review the trustees awarded a total of seventy-two grants ranging in value from £500 to £5,000 to a range of charitable organisations in accordance with the Foundation’s grant making policy.
In the opinion of the trustees the Foundation, by making grants only to charitable organisations which themselves are for the benefit of the public, is in turn meeting its own obligation to deliver public benefit.
Grant making policy. The primary object of the charity is medical research in its widest sense, favouring research on a broad front rather than in specialised fields. For guidance, this might include general medical equipment or equipment for use in research, or grants to cover travelling and subsistence expenses for doctors and students studying abroad.
In general, the Foundation gives preference to giving assistance with the launching and initial stages of new projects and filling in gaps or shortfalls.
In addition to its medical connection, historically the Foundation has also supported initiatives for children and youth groups, the disabled, the countryside, the arts, sport, carers groups and animal welfare.
The trustees are mindful of their responsibilities in relation to safeguarding and are satisfied, through the charity’s grant making policy and monitoring process, they are fulfilled.
Page 2
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
TRUSTEES’ REPORT
Investment policy. The policy of the Foundation is to invest prudently in a managed portfolio of equities, fixed income and alternative investments to generate sufficient income to fund the Foundation’s grant programme. In addition, research into social, environmental and ethical issues is undertaken by the Investment Manager but no restrictions are imposed by the Trustees.
Investment performance was monitored throughout the year and the trustees noted strong positive returns against their inflation benchmark.
FUND-RAISING STANDARDS INFORMATION
The charity does not actively raise funds from the general public, with its activities supported by income generated from its investments and further donations by the settlor trustees.
FINANCIAL REVIEW
During the year ended 5 April 2025 the Foundation’s incoming resources amounted to £146,605 (2024: £135,766) and its outgoing resources amounted to £130,581 (2024: £115,226).
Reserves policy. The Foundation is funded by income arising on its investment portfolio, which is held in an expendable endowment fund. The trustees have the ability to flex the level of grant expenditure from year to year. These factors mean that the trustees do not consider it essential for the charity to maintain significant free reserves (i.e. a retained balance on income funds) although balances will arise from time to time. As at 5 April 2025, free reserves totalled £92,327 (2024: £67,533).
PLANS FOR FUTURE PERIODS
The trustees will continue to accept applications for grant funding in pursuance of their grant-making policy outlined above.
TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the trustees:
14 January 2026 Charles Astor Date Trustee
Page 3
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
INDEPENDENT AUDITOR’S REPORT
Independent Auditor’s Report to the Trustees of The Astor Foundation
Opinion
We have audited the financial statements of The Astor Foundation (the ‘charity’) for the year ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 5 April 2025, and of its incoming resources and application of resources, for the period then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
Page 4
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
INDEPENDENT AUDITOR’S REPORT
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the industry in which it operates, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act, and Trustee Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
In addition, the charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. As an investment funded grantmaker there is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.
Audit procedures performed by the engagement team included:
-
Enquiry of those charged with governance around actual and potential litigation and claims and any instances of non-compliance with laws and regulations;
-
Reviewing minutes of meetings of those charged with governance;
-
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
- A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilitiesfor.This description forms part of our auditor’s report.
Page 5
THE ASTOR FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
INDEPENDENT AUDITOR’S REPORT
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Blue Spire Limited, Statutory Auditor Date 21 January 2026
Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 6
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
| Note INCOME AND ENDOWMENTS FROM: Investments 1 Total EXPENDITURE ON: Raising funds - investment management fees 2 Charitable activities 3 Total resources expended Gains / (losses) on investments Realised Unrealised 7 Net Income/(expenditure) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward 9,10 Total funds carried forward 9,10 |
Income Fund £ 146,605 146,605 - 121,811 121,811 - - - 24,794 - 24,794 67,533 92,327 |
Capital Fund £ - - 8,770 - 8,770 23,827 (7,086) 16,741 7,971 - 7,971 4,377,898 4,385,869 |
2025 Total Funds £ 146,605 146,605 8,770 121,811 130,581 23,827 (7,086) 16,741 32,765 - 32,765 4,445,431 4,478,196 |
2024 Total Funds £ 135,766 |
|---|---|---|---|---|
| 135,766 | ||||
| 11,080 104,146 |
||||
| 115,226 | ||||
| (62,802) 116,093 |
||||
| 53,291 | ||||
| 73,831 - |
||||
| 73,831 4,371,600 |
||||
| 4,445,431 |
None of the charity's activities were acquired or discontinued during the above two financial years.
The charity has no recognised gains or losses other than those dealt with in the Statement of Financial Activities.
Page 7
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
BALANCE SHEET AS AT 5 APRIL 2025
| Note FIXED ASSETS Investments 7 CURRENT ASSETS Debtors - accrued investment income Cash at hand and in bank Total current assets CURRENT LIABILITIES Creditors: amounts falling due within one year 8 Net current assets/(liabilities) Net assets/(liabilities) THE FUNDS OF THE CHARITY Capital (expendable endowment) 9 Income 10 Total charity funds |
£ £ 3,975,348 20,648 520,739 541,387 38,539 502,848 4,478,196 4,385,869 92,327 4,478,196 2025 |
£ £ 4,154,938 8,232 292,601 300,833 10,340 290,493 4,445,431 4,377,898 67,533 4,445,431 2024 |
£ £ 4,154,938 8,232 292,601 300,833 10,340 290,493 4,445,431 4,377,898 67,533 4,445,431 2024 |
|---|---|---|---|
| 4,445,431 | |||
| 4,377,898 67,533 |
|||
| 4,445,431 |
The accompanying notes form part of these financial statements.
The financial statements were approved by the board and signed on their behalf.
Charles Astor Chair of trustees
14 January 2026 Date
Page 8
THE ASTOR FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
ACCOUNTING POLICIES
General information, scope and basis of the financial statements
The Astor Foundation is an unincorporated charity constituted under a deed of settlement. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Cash flow statement
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a statement of cash flows on the grounds that it is applying FRS 102 Section 1A.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
● Raising funds; these include investment management fees charged by the charity's investment managers
- Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
VAT
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
Taxation
The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.
Page 9
THE ASTOR FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
ACCOUNTING POLICIES
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash and cash equivalents
Cash and cash equivalents includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
Fund accounting
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Capital (endowment) funds comprise the original gifts introduced by the late Lord Astor of Hever, together with the accumulated realised and unrealised surpluses arising on investments acquired with those gifts, less any donations made out of capital. The capital funds are expendable at the discretion of the trustees. Investment management charges and legal advice relating to the fund are charged against the fund. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 10
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
1. Income from investments
| Income Fund £ Income from managed funds 144,005 Bank deposit interest 2,600 146,605 2. Raising funds - Investment management costs Income Fund £ Investment management fees - - |
Capital Fund £ - - - Capital Fund £ 8,770 8,770 |
2025 Total Funds £ 144,005 2,600 146,605 2025 Total Funds £ 8,770 8,770 |
Income Fund £ 133,876 1,890 135,766 Income Fund £ - - |
Capital Fund £ - - - Capital Fund £ 11,080 11,080 |
2024 Total Funds £ 133,876 1,890 |
|---|---|---|---|---|---|
| 135,766 | |||||
| 2024 Total Funds £ 11,080 |
|||||
| 11,080 |
3. Charitable activities
| Grants awarded (see note 4.) Grants written back Governance costs: Secretarial services Sundry expenses Bank charges Audit fees |
Income Fund £ 110,000 - 7,151 1,000 540 3,120 121,811 |
Capital Fund £ - - - - - - - |
2025 Total Funds £ 110,000 - 7,151 1,000 540 3,120 121,811 |
Income Fund £ 99,500 (6,000) 6,747 779 - 3,120 104,146 |
Capital Fund £ - - - - - - - |
2024 Total Funds £ 99,500 (6,000) 6,747 779 - 3,120 |
|---|---|---|---|---|---|---|
| 104,146 |
4. Grants to institutions
| 4. Grants to institutions | ||
|---|---|---|
| Activity Cass & Friends Climbing Out Giving Day Inspire Suffolk Ltd Momentum In Fitness Spark Advice and counselling Als Pals In Charley's Memory Youth Talk Ltd |
2025 £ 1,500 - 1,000 2,000 1,500 - Scotland 6,000 - - 2,000 2,000 |
2024 £ - 1,000 - - - 1,000 |
| 2,000 | ||
| 1,000 1,000 - |
||
| 2,000 |
Page 11
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
| 4. Grants to institutions (continued) Animal welfare Hedgepigs and Hoglets Rescue Oak Tree Animals' Charity Street Paws Armed forces British Forces Foundation British Limbless Ex-servie Men's Association (BLESMA) Walking With The Wounded Wings For Warriors Arts, Conservation and Heritage Children's Scrapstore Clean Planet UK Fields In Trust Future Trees Trust Cio Ignite Imaginations Moving Memory Dance Theatre Company Ltd Music In The Round Limited National Youth Ballet of Great Britain Philharmonia Ltd Surfers Against Sewage The Bank of Dreams and Nightmares UPRAWR Mental Health Foundation West Somerset Railway Association Young Actors Theatre Islington Carers and Carers groups Action for Family Carers Dementia Carers Count, The Royal Surgical Aid Society Kool Carers South East Ltd Children and Youth focus Amy Winehouse Foundation Basecamp Adventures Trust Berkshire Youth Ltd Curiosity Collective Our Hidden Treasure Prevent 2 Protect Sail Training Trust (formerly Portsmouth Sail Training Trust) Scotty's Little Soldiers The Haemophilia Society The Sir Francis Chichester Appeal For The Youth Of Devon The Tim Henman Foundation Together For Short Lives |
2025 £ 1,000 - 2,000 3,000 - 1,700 1,500 - 3,200 1,500 1,400 2,000 - - 1,000 1,500 - 2,000 1,500 - - - 1,500 12,400 2,000 - - 2,000 - 1,500 - - Scotland 1,400 - 1,500 - - - 1,500 1,000 6,900 |
2024 £ - 500 - |
|---|---|---|
| 500 | ||
| 500 - - 1,000 |
||
| 1,500 | ||
| - - - 1,000 1,000 - - 1,000 - - 1,500 1,000 1,000 - |
||
| 6,500 | ||
| - 1,000 1,500 |
||
| 2,500 | ||
| 1,000 - 1,500 1,000 - 1,000 - 2,000 1,000 1,000 - - |
||
| 8,500 |
Page 12
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
| 4. Grants to institutions (continued) Disability Attend Branch Out Together, Lothian Autistic Society Crackerjacks Children's Trust Diability Challengers Goalball UK Me2 Club My Life My Choice Life Cycle Linkable Woking Sonic Bothy Soundabout The Diabled Sailors Association The Rainbow Centre for Conductive Education Ltd Disadvantaged Animal Antiks British Rowing Charitable Foundation CHAOS (Children's Holidays and Other Specialities) Dentaid ForRefugees Boxes of Basics Gifted Women Off The Streets The Cheer-Up Squad Ltd The United Goal Ltd Young & Inspired Education Mosaik Education Prison Fellowship Read Easy UK Red Balloon Educational Trust Tender Education and Arts Elderly University Hospitals Bristol & Weston Charity Dementia Support Hot Line Meals Service (London) Music For My Mind The Together Project Cio The Welcome (Knutsford) Limited Emergency services Beep Doctors (Basic Cumbria) Ltd Great Western Air Ambulance Charity Welsh Air Ambulance Charitable Trust The PCC Of St Michael & All Angels (Sparkle) |
2025 £ - - Scotland - - - 1,000 1,000 - - - Scotland - - - 2,000 - 1,500 2,000 2,500 1,500 - - 2,500 - - - 10,000 - 1,500 - 2,000 1,500 5,000 1,500 - - - - - 1,000 2,500 - 2,000 - 2,000 |
2024 £ 1,500 1,000 500 1,000 1,200 - - 1,500 1,000 1,500 1,000 1,000 1,000 |
|---|---|---|
| 12,200 | ||
| 1,200 - - - - 500 1,000 - 1,000 1,000 - |
||
| 4,700 | ||
| 1,200 - 1,000 - - |
||
| 2,200 | ||
| - - 1,000 - 1,500 1,200 - |
||
| 3,700 | ||
| 1,500 - 1,000 |
||
| 2,500 |
Page 13
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
| 4. Grants to institutions (continued) Sailing and Maritime Tall Ships Youth Trust Medical Baby Beat, Lancashire Teaching Hospital Charity BRACE Cerebra - For Brain Injured Children And Young People Crohn's & Colitis UK Downs Syndrome Research Foundation Limited Gemini Untwined Haemochromatosis UK Healthbus Trust Hope For Tomorrow Joss Searchlight NARA The Breathing Charity Pain Concern Pain Relief Foundation Retina UK Step One Charity The Food Chain (UK) Limited The Lullaby Trust The Scar Free Foundation The Tuberous Sclerosis Association Wallace & Gromit's Children's Foundation (The Grand Appeal) Wellbeing Of Women Overarching Reach Volunteering Regular and rolling grants Alzheimer's Society Forces Support Limited Friends of University College London Hospitals Hospice UK IAH Charity Company Limited London’s Air Ambulance Limited Samaritans Special Boat Service Association The National Autistic Society The Royal College of Music The Royal National Lifeboat Institution University of Kent VIP Cardiac Risk in the Young Off The Record (Twickenham) SEDSConnective South London Refugee Association Wyeside Arts Centre Limited |
2025 £ - - - 1,500 - - 1,500 - - - 1,500 - - - Scotland - - 1,000 - - 2,000 2,000 1,500 1,500 12,500 - - 3,000 - 5,000 4,000 4,500 3,000 3,000 2,500 2,500 2,500 2,500 - 32,500 2,000 2,000 1,500 - 2,500 8,000 110,000 |
2024 £ 1,000 |
|---|---|---|
| 1,000 | ||
| 1,000 - 1,800 1,500 - 1,000 1,000 1,500 - 500 500 1,000 1,000 1,200 - 1,000 1,000 - - - - |
||
| 14,000 | ||
| 2,000 | ||
| 2,000 | ||
| 3,000 2,500 5,000 4,000 4,500 3,000 3,000 - 2,500 - 2,500 2,500 |
||
| 32,500 | ||
| - - - 1,200 - |
||
| 1,200 | ||
| 99,500 |
Page 14
THE ASTOR FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
NOTES TO THE FINANCIAL STATEMENTS
`
5. Auditors' remuneration
| 5. Auditors' remuneration | ||||||
|---|---|---|---|---|---|---|
| Audit fees | Income Fund £ 3,120 3,120 |
Capital Fund £ - - |
2025 Total Funds £ 3,120 3,120 |
Income Fund £ 3,120 3,120 |
Capital Fund £ - - |
2024 Total Funds £ 3,120 |
| 3,120 |
6. Staff costs and related party transactions
The charity has no employees but engages the services of an administrator, these charges are included within secretarial services within note 3.
No remuneration or amounts for reimbursed expenses were paid to the trustees in this or the preceding year.
There were no disclosable related party transactions in the year under review or the preceding year.
7. Investments
| 7. Investments | ||
|---|---|---|
| Market value brought forward at 6 April 2024 Cost of investments purchased Disposal at carrying value Unrealised gains / (losses) Market value carried forward at 5 April 2025 The investments above are analysed as follows: Listed investments1 |
2025 £ 4,154,938 429,620 (602,124) (7,086) 3,975,348 2025 £ 3,975,348 3,975,348 |
2024 £ 4,181,179 1,958,195 (2,100,529) 116,093 |
| 4,154,938 | ||
| 2024 £ 4,154,938 |
||
| 4,154,938 |
1 The term listed investments includes unlisted Sarasin funds which in turn invest in listed investments.
8. Creditors
| 8. Creditors | ||
|---|---|---|
| Grant creditors Investment manager's fees Audit fees |
2025 £ 33,000 2,419 3,120 38,539 |
2024 £ 4,500 2,720 3,120 |
| 10,340 |
Page 15
THE ASTOR FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
NOTES TO THE FINANCIAL STATEMENTS
9. Capital Fund
| 9. Capital Fund | ||||
|---|---|---|---|---|
| Amounts received between 1962 and 1968 from the late Lord Astor of Hever in pursuance of the settlement dated 31 October 1962 LESS: Investment management fees Donations out of capital Unrealised surplus arising on revaluation of investment to market value at Profit less losses on sales of investments up to beginning of the year Net realised profit on sales of investments in the year Comprising: Investments Cash at bank Creditors |
593,329 (221,154) (64,109) the year end 2,088,394 23,827 |
2025 £ 308,066 1,965,582 2,112,221 4,385,869 3,975,348 412,940 (2,420) 4,385,868 |
593,329 (212,384) (64,109) 2,151,196 (62,802) |
2024 £ 316,836 1,972,668 2,088,394 |
| 4,377,898 | ||||
| 4,154,938 225,680 (2,720) |
||||
| 4,377,898 |
10. Income fund
| 10. Income fund | ||
|---|---|---|
| Balance at beginning of year Excess of income/(expenditure) for the year Balance at end of year Comprising: Debtors Cash at bank Creditors |
2025 £ 67,533 24,794 92,327 20,648 107,799 (36,120) 92,327 |
2024 £ 35,913 31,620 |
| 67,533 | ||
| 8,233 66,920 (7,620) |
||
| 67,533 |
Page 16
THE ASTOR FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
NOTES TO THE FINANCIAL STATEMENTS
11. Grant commitments at 5 April 2025
| 11. Grant commitments at 5 April 2025 | ||
|---|---|---|
| Alzheimer's Society Hospice UK IAH Charity Company Limited Friends of University College London Hospitals National Autistic society London Air Ambulance The Royal National Lifeboat Institution Samaritans Spring rolling grants - Eton College (2026), St Bride's Church (2027) Autumn rolling grants - Forces Support Limited (2026), Special Boat Service Association (2027) |
2026 2027 £ £ 3,000 3,000 4,000 4,000 4,500 4,500 5,000 5,000 2,500 2,500 3,000 3,000 2,500 2,500 3,000 3,000 2,500 2,500 2,500 2,500 32,500 32,500 Years to 5 April |
|
| 32,500 |
- Spring and Autumn rolling grant recipients are subject to approval at the April and October trustee meetings respectively.
The above grants have not been accrued at the balance sheet date as future awards and payment is at the discretion of the trustees.
12. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
| 2025 Total Funds £ Financial assets Measured at fair value through net income/(expenditure): Fixed asset investments 3,975,348 3,975,348 The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows: 2025 Total Funds £ Income and expense Financial assets measured at fair value through net income/(expenditure) Investment income 146,605 Investment management fees (8,770) 137,835 Net gains and losses (including changes In fair value) Financial assets measured at fair value through net income/(expenditure) Realised gains/(losses) on investments 23,827 Unrealised gains/(losses) on investments (7,086) 16,741 |
2024 Total Funds £ 4,154,938 |
|---|---|
| 4,154,938 | |
| 2023 Total Funds £ 135,766 (11,080) |
|
| 124,686 | |
| (62,802) 116,093 |
|
| 53,291 |
Fixed asset investments are held at fair value with valuations obtained using last traded or closing mid/bid market prices as available.
Page 17
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE ASTOR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
| 13. Comparative Statement of Financial Activities Note INCOME AND ENDOWMENTS FROM: Investments 1 Total EXPENDITURE ON: Raising funds - investment management fees 2 Charitable activities 3 Total resources expended Gains / (losses) on investments Realised Unrealised 7 Net Income/(expenditure) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward 9,10 Total funds carried forward 9,10 |
Income Fund £ 135,766 135,766 - 104,146 104,146 - - - 31,620 - 31,620 35,913 67,533 |
Capital Fund £ - - 11,080 - 11,080 (62,802) 116,093 53,291 42,211 - 42,211 4,335,687 4,377,898 |
2024 Total Funds £ 135,766 |
|---|---|---|---|
| 135,766 | |||
| 11,080 104,146 |
|||
| 115,226 | |||
| (62,802) 116,093 |
|||
| 53,291 | |||
| 73,831 - |
|||
| 73,831 4,371,600 |
|||
| 4,445,431 |
Page 18