THE CADOGAN CHARITY Registered Charity No. 247773 ANNUAL REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2024
THE CADOGAN CHARITY- A Registered Charity (Number 2477731 TRUSTEES, ANNUAL REPORT The trustees present their report, the auditors, report and the accounts of The Cadogan Charity for the year ended 5 April 2024. REFERENCEAND ADMINISTRATIVE INFORMATION Trustees The Ninth Earl Cadogan DL- Chaimian LadyAnna Thomson The Hon. William Cadogan Administrative office 10 Duke of York Square London SW3 4LY Secretary to trustees P M Loutit Bankers Coutts & Co 440 Strand London WC2ROQS Investment Managers Schroder & Co. 12 Moooate London EC2R 6DA Auditors Dixon Wilson Audit Services LLP 22 Chancery Lane London WC2A ILS Charity registration number 247773 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The General Permanent Endowment Fund of the charity was created by the Seventh Earl Cadogan under a deed of trust dated 31 March 1966. Subsequently the Seventh Earl Cadogan made further grfts to the charity by way of investments. In 1985 the charity received a gift from Cadogan Holdings Company (now Cadogan Holdings Limited). In accordance with the direction received from the Seventh Earl Cadogan this gift was used to create the Rectors, Permanent Endowment Fund as described in note 5 to the accounts. In 1996 the trustees of Viscount Chelsea's Charity resolved to transfer the whole trust fund to the trustees of The Cadogan Charity. In 2010 the trustees of the 1986 Cadogan Jersey Trust re501ved to transfer the whole trust fund to the trustees of The Cadogan Charity. Trustees The current trustees are as listed above and, unless othenNise Stated, held office throughout the year under rewew. The Eighth Earl Cadogan KBE DL died on 11 ILtne 2023. The Countess Cadogan retired as Trustee on 7 May 2024. Only the present trustees of the charity have the power to appoint new trustees. The appointment and training of new trustees, which involves awareness of the history and approach of the charity and their responsibilities, is performed by present trustees of the charity as they see fit on a case by case basis.
THE CADOGAN CHARITY- A Re8iStered Charity {Number 2477731 TRUSTEES, ANNUAL REPORT IcoNTINUED} STRUCTURE. GOVERNANCE AND MANAGEMENT Icontinuedl Organisation The board of trustees meets formally once a year to conduct the business of the charity. The secretary to the trustee5 is responsible for managing the day to day operations of the charitv. Risk management The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to manage those risks. These include the inherent risks of investing on the stock market, valuations of investments held and the availability of dividends and distributions. These risks are managed through ongoing monitoring and through discussion at the trustees, meetings and the use of professional investment managers. The trustees. investment powers and policies are outlined on page 3. OBJECTS AND ACTIVITIES FOR THE PUBUC BENEFIT The general objects of the charity are to make such subscriptions to charitable organisations and bodies and such other applications for charitable purposes as the trustees, using their ab501ute discretion, may decide upon. The charity make5 a large number of indtvidual donations to registered charities with particular reference to those based, or operating, in London or Scotland. Public benefit The trustees, having regard to the Public Benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act. ACHIEVEMENTS & PERFORMANCE AND FINANCIAL REVIEW During the year the charity received £1,729,45212023 £3.677,9821 in total incoming resources. The principal sources of income in the year are the annual dividend received from Cadogan Group Holdings Limited and distributions from the Lady Cadogan 1983 Settlement. The trustees applied these resources to its charitable activities as follows.. Generol Fund The tru5tee5 authorised donations to distribute the majority of the current yeals income. A full list of beneficiaries of these charitable donations is shown in note 5 to the accounts. bl Rertors, Fund During the year donations of £21,000 were paid to the CtorS of three local churches. The trustees meet to consider what grants they will make during the year and to plan large future donation5. Although the trustees make some grants with no formal applications, they normally require org3nisations to submit a request saying how the funds could be used, what would be achieved, and how this would add to public benefit. Grants are only given to recognised national charities, with particular reference to charities based in London and Scotland.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) TRUSTEES, ANNUAL REPORT (CONTINUED) ACHIEVEMENTS & PERFORMANCE AND FINANCIAL REVIEW {continuedl Investment powers and policy Under the trust deed the trustees have wide powers of investment and are not subject to the imposition of any restrictions. The trustees have the power to retain shares in Cadogan Group Holding5 Limited and are not under any duty to diversify to the extent that the trust fund comprises those shares. However. the trustee5 have also noted the statutory duty of eare required by the Trustees Att 20W, in relation to their holding suitable investments and the need for diversification of investments so far as it is appropriate to the circumstances of the trust. The trustees receive the benefit of investment advice from Schroder & Co. Investment performance was satlsfactory for the current year. A detailed schedule of the investment portftilio at 5 April 2024 and details of the movement in revaluation during the year are given in note 6 to the accounts. Reserves policy It is the policy of the charity to maintain unrestricted income funds sufficient to cover management and administration expenses and to respond to emergency requests for donations for the relief of distress and suffering. PLANS FOR FUTURE PERIODS It is the intention of the trustee5 to continue making subscriptions to charitable organi5ations for the foreseeable future. The trustees have already agreed to make donation5 Out of future income to certain named charities on the basis of funds being available, although these future payments remain at the absolute discretion of the trustees. Details of the quantum of these potential donations have been set out in note 11 to the accounts. srATEMENT OFTRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Tru5tees' annual report and the accounts in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustee5 to prepare accounts 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 accounts, the trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles of the Charities SORP,. make judgements and accounting estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any departure5 disclosed and explained in the accounts,. and prepare the accoLJnts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
THE CADOGAN CHARITY- A Registered Charity {Number 247773) TRUSTEES, ANNUAL REPORT {CONTINUEDI STATEMENT OF TRUSTEES, RESPONSIBILITIES (continued) The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity IAc£ounts 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 step5 for the prevention and detection of fraud and other irregularities. ACCOUNTS The accounts have been drawn up in compliance with relevant provisions of The Charities Act 2011, the trust deed and the '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 IFRS1021. STATEMENT AS TO DISCLOSURE TO OUR AUDITORS In so far as the trustees are aware at the time of approving our trustees, annual report: there 15 no relevant information, being information needed by the auditor in connection with preparing their report, of which the auditor is unaware,. the trustees have each taken all steps that he/she is obliged to take as a trustee in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. On behalf of the trustees: The Earl Cadogan DL 17 January 2025
THE CADOGAN CHARITY- A Registered Charity (Number 247773) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE CADOGAN CHARITY Opinion We have audited the financial statements of The Cadogan Charity (the 'charity'l for the year ended 5 April 2024 which comprise the statement of financial activities, balance sheet, statement of ca5hflow5 and notes to the financial statements. includinE a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United KinEdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (united KinEdom Generally Accepted Accounting Practice). In our opinion, the financial 5tatement5'. give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of it5 incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kin8dom Generally Accepted Accounting Prèctice,. 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 Standard5 on Auditing IUKI115As IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's responsibilities lor the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirernents that are relevant to our audit of the financial statements in the UK, includin8 the FRC'5 Ethic31 Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirerrent5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the financial statements 15 appropriate. 8ased on the work we have performed, we have not identified any material urFcertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue as a going oncern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tru5tee5 Wlth respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, other than the financial statements ènd our 3ud5tor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and 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 15 materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a rnaterial 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 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this re8aTd.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OFTHE CADOGAN CHARITY (continued) Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to whith the Charities IAecounts and Reportsl Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statement5 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. Responslbillties of trustees As explained more fully in the trustees. responsibiSities statement set out on page 3, the trustees are responsible for the preparation of the financi31 statements and for being satisfied that they 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 statement5, the tru5tee5 are responsible for a55essing the charity'5 ability to continue as a going concern, disc105in& as applicable, matter5 related to going concern and using the going concern basis of accounting unless the trustee5 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 finantial statement5 We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and Televant regulations made or having effect thereunder. Our objective5 are to obtain reasonable assurance about whether the financial 5tatement5 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 ISA5 IUKI will alway5 detert a rllaterial misstatement when it exi5t5. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these linaricial statements. Irregularities. includin8 fraud, are instance5 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 fiaud. The extent to which our procedures are capable of detectin8 irregularitie5. including fraud is detailed below.. We gained an understanding of the legal and regulatory framework applicable to the charity by considering, amongst other things, the sector in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the aS%è55ed level of risk, but recognised that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation5, or through collusion. We focused on laws and regulations which could @ive rise to a material misstatement in the financial statements, including, but not limited to Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation. enquiries with management and enquiries of third parties. As in all our audit5, we al%0 addressed the risk of managèment override of internal controls, including testing journals and evaluating whether there wa5 evidence of bias by management that represented a risk of material mi55tatèment due to fraud. There are inherent limitations in the audit procedures described abovè and, the furthèr removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the les5 likely we would become aware of it. We did not identify any key audit matters relatin8 to irre8ularities. including fraud.
THE CADOGAN CHARITY- A Registered Charity (Number 2477731 INDEPENDENT AUDITORS. REPORT TOTHE TRUSTEES OF THE CADOGAN CHARITY Icontinuedl A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uk/auditor5respon5ibilitie5. This description forms Part of our auditorfs report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with regulations made under Section 154 of the Charitie5 Act 2011. Our audit work has been undertaken so that we might state to the charity's trustee5 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 Dpinions we have forrned. Dixon Wi150n Audit Service5 LLP, Statutory Auditor 22 Chancery Lane London WC2A ILS Date.. Dixon Wilson Audit Servlces LLP is eliglble to act as an auditor in terms of section 1212 of the Companies Act 2006.
THE CADOGAN CHARITY- A Registered Charity (Number 2477731 STATEMENT OF FINANCIAL AcfiviTIES for the year ended 5 April 2024 Rectorfs Restricted Income Fund General Perm8nent Endowtnent Fund Rectors, Permanent Endowment Fund Unrestricted Incorne Fund Total 2024 Total 2023 Note Intome and Endowmenis Irom.. Donations and legacies 1.987.035 Investment Income 1,729,452 1,729.452 1.690,947 Total Incoming resources 1,729,452 1,729,452 3.677,982 Expenditure on.. Raislng fund5 Charitsble activitie5 8.579 8.579 8,603 1.863,368 21,000 1.884,368 3,274,345 Total expenditure 1,863,368 21.000 8,579 1.892.947 3,282,948 Gainsll1055esl on inve5tments'. Realised Unrealised 2,275,953 2,275,953 2,436,491 Net Income/lexpendSturel 1133,9161 121,0001 2,267,374 2,112A58 2.831,525 Transfer between fund5 121,0001 21.000 Net movement in fund5 1154.9161 2,267,374 2,112,458 2,831,525 Fund balances broughtforward 458,156 1,109 54,652,979 64,895 55,177,139 52.345,614 Fund balances carried forward 303,240 1,109 56,920,353 64,895 57,289.597 55,177,139 The notes on pages 11 to 21 form part of these accounts.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) BALANCE SHEET at 5 April 2024 2024 2023 Note Flxèd assets Investments 57.¢J)1.385 54,725.432 Current a55ets Cash at bank 300,313 463.110 Current liabilitie5- amounts falllng due wlthln one year Accrued expenses 12,101 11,403 Net turrent assets 288,212 451,707 Total assets less current liabilities 57,289.597 55.177.139 Funds UNRESTRICTED FUND General Fund- income 303.240 458,156 RESTRICTED FUND Rectors, Fund income 1,109 1,109 ENDOWMENT FUNDS General Permanent Fund Rector5' Perrnanent Fund 56.920.353 64.895 54,652,979 64,895 57,289.597 55,177,139 The notes on pages 11 to 21 form part of these accounts. Approved by the trustees on 17 january 2025 and signed on their behalf by= The Earl Cado8an DL- Trustee
THE CADOGAN CHARITY- A Registered Charity (Number 2477731 io CASH FLOW STATEMENT for the year ended 5 April 2024 2024 2023 Note Net movement in funds Add net1055es gain5 on investments Deduct interest income shown in investing activities 2,112,458 12,275,953) 18.3991 2,831.525 12,436.4911 17011 Deduct dividend income shown in investing activities 11,721,053) 11,690,246) Increase in creditor5 698 5,403 11,290,510) Net cash used in operating activities 11,892.2491 Cash flows from Investing activitie5 Dividends received 1,721,053 1,690.246 Interest received 8,399 701 Proceeds from sales of inve5tment5 Purchase of inve5trnents Net cash provided by Investlng actlvltles 1,729,452 1,690.947 Change in cash and cash equivalents in the vear 1162,7971 400.437 Cash at bank and cash equivalents brought forward 463.110 62,673 Cash at bank and cash equlvalents tarried forward 300.313 463,110 The note5 On pages 11 to 21 form part of these accounts.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) NOTES TO THE ACCOUNTS for the year ended 5 April 2024 ACCOUNTING POLICIES The principle accounting policies adopted, judgernents and key 50urce5 of estimation uncertainty in the preparation of the accounts are as follows- Key jutjgements rjnd sources of e5timotiort uncertainty The valuation of unlisted shares is considered to be the key area of estimation uncertainty. The unlisted shares are valued at the tru5tees' estimate of their market value. using the net asset value method with a 65% adjustment to reflect deferred tax. lack of marketability and lack of control. The value of these investment5 at the year-end was £52,230,00012023- £50,160,0001. B0515 of preporation The account5 are prepared under the historical cost convention modTfied to include the revaluation of investments. The accounts are in accordance with the Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities PTeparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021- Charities SORP IFRS 1021 effective l January 20191, the Financi31 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. Income Dividends and interest are recorded in the statement of financial activities when they are due to the charitv. Voluntary income is recogni5ed in the statement of financial activities when there is evidence of entitlement to the receipt and the receipt is probable and the amount can be measured reliably. This includes taxation recoverable deducted frorr distributions. Expendittjre All expenses are included in the statement of financial activities on the accrua15 basis. Grants Grant5 are included in the statement of financ*al activities at the tirne they are approved by the trustees. Where grants are subject to conditions. they are recognised when those condition5 are met. No provision 15 made for intended grants which are subject to funds bein8 available. Fund accounting Unrestrictèd income funds are available to spend on activitie5 that further any purpose5 of the charity. Restricted income fund5 are solely used for the particular purposes of the charity's work, specified by the donor. Permanent endoWmÉ funds require that the trustees invest the capital in pèrpetuitv Investments Investments are a form of basic financial instrument and are measured at their fair value through the Statement of Financial Activitie5. Listed investments have been valued at mid-market value on 5 April 2024. Unlisted investments have been valued at the trustees. estimate of their market value, using the net asset value method with 3 65% adjustment to reflect deferred tax, lack of rnarketability and lack of control.
THE CADOGAN CHARITY- A Registered Charity {Number 2477731 12 NOTES TO THE ACCOUNTS for the year ended 5 April 2024 ACCOUNTING POLICIES {CONTINUEDI Cosh ot bunk und brokers deposits Cash in the balance Sheet comprises cash at bank and is stated net of any book overdrafts. Brokers deposit5 are a150 included in cash at bank. Creclitors Creditors are recogni5ed where the charity has a present obligation resulting in the transfer of funds to a third party. VOLUNTARY INCOME 2024 2023 Distribution from Lady Cadogan 1983 settlement Donation from Cadogan Estates Limited 1,460,470 526,565 1.987,035 The di5tribution5 were made without any resÈTvation of benefit. The Rt Hon The Eighth Earl Cado8an KBE DL, a former trustee of The Cadogan Charity, was a150 a trustee of the Lady Cadogan 1983 Settlement and the Cadogan Pension Trust. The Ninth Earl Cadogan DL, a trustee of The Cadogan Charity, is a trustee of the Cadogan Penslon Trust and a director of Cadogan Group Holding5 mIted. the parent cornpany of Cadogan Estates Limited. INVESTMENT INCOME 2024 2023 Dividends from quoted invÈstments Gross interest from quoted investments Dividends from unquoted investments Bank deposit interest 199.774 125 1,521.279 8,274 £1,729,452 194,957 198 1,495,289 503 £1,690,947 RAISING FUNDS In 2024 and 2023 the full cost of raising funds related to investment manager feès.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) NOTES TO THE ACCOUNTS for the year ended 5 April 2024 CHARITABLE AcfiviTIES GRANTS 2024 2023 To charities supporting soclal and welfare aspects wlthln the tommunlty.. Ardington Church Chelsea Physic Garden Children's Trust 10,000 200.000 150.000 5,000 200,000 Culford Village Hall Deptford First East Sutherland Rescue A55oeiation 5,000 4.000 30,000 Friends of CCHT Federation Girlguiding Blairgowrie & Rattray District Glas5 Door Holy Trinity Church PCC London Playing Fields Foundation Maggie's Natural History Museum NSPCC 5,000 ioo,aoo 18,838 75,000 5,000 500,000 30,000 loo,000 75,000 500,000 20,000 20,000 25,000 200,000 5.000 One Srnall ThinÉ Prince'5 Trust 25,000 200,000 Royal Horticultural society Royal Trinity H05pice Safe Familie5 15,000 15,000 5,000 Samaritans 15.000 5.000 10,000 10,000 io,cNJo lo,0 10,000 5,000 Scottish Mountain Rescue Special Boat Service A550Ciation St Marls Birnam Ulysses Trust Wellbeing of Women Women's Trust Total charities supportlng social and welfarè aspects wlthin the communlty 5.CM)O 1.259,000 1,363.838
THE CADOGAN CHARITY- A Registered Charity {Number 2477731 14 NOTES TO THE ACCOUNTS for the year ended 5 April 2024 CHARITABLE ACTIVITIES IcoNTINueD) GRANTS IcoNTtNUED) 2024 2023 To charities supporting medical research: Alzheimer's Research UK 10,000 A5thrna & Lung UK Biit15h Heart Foundation 10,000 10,000 io,coo Cystic Fibrosis Trust Downs Syndrorre Association JORF 5,000 5.000 5.000 5,000 50,000 London Air Ambulance 30,000 50,000 Mo8hissi Laser Trust Fund 10,000 Moorfields Eye Hospital Motor Neurone Disease A550Clation 25,000 5.000 Parkinson's UK 5.000 5.000 Prostate Cancer Research 10.000 Royal Brompton & Harefield Hospita5s Royal Osteoporosis Society Scotland'5 Charity Air Ambulance1SCAAI St John Ambulance 15.000 15.000 10.000 10,000 10,000 5,000 Versus Arthrit15 5,000 World Cancer Research 25.000 World Sight Foundation 2,000 Total tharltles supportlng medlcal research 135,000 212,000
THE CADOGAN CHARITY- A Registered Charity {Number 247773) 15 NOTESTO THE ACCOUNTS for the year ended 5 April 2024 CHARITABLE AcfiviTIES ICONTINUEDI GRANTS ICONTINVEDI 2024 2023 To military charities: ABF the Soldiers Charitv Battle Of Britain Memorial Trust 25,000 1,000 1.000 Battle of Britain Memorial Trust CIO Cold5tre3m Guards Commonwealth War Graves Foundation 10.000 10.000 Is.000 60.000 F.A.N.Y 17.000 60.000 11,500 150,000 Guards Chapel Trust Guild Air Pilots Trust Royal Hospital Chelsea - In-House Mobility Fund Total mllitary tharitFèS 150.000 237.000 273,500 2024 2023 To charitie5 SUPPOrting conservatlon and the envlronment.. Blue Highland5 Raptor Rescue & Avian Conservation Centre Highland Wildlife Rescue Charity Total charities supportin8 conservation and the envSronment 25,000 25,000 50.000
THE CADOGAN CHARITY- A Registered Charity (Number 2477731 NOTESTO THE ACCOUNTS for the year ended 5 April 2024 CHARITABLE ACTIVITIES ICONTINVEDI GRANT5 ICONTINUEDI 2024 2023 To educational charitles: Countryside Learning Scotland Friends of CCHT Federation 10,000 10.000 30,000 loo.000 25.000 1,009,134 44,970 Heathfield School loo,000 25.000 National Horse Racing Museum Royal Ma50nic Charitable Foundation Royal Masonic School for Girls- Cadogan Hardship Fund Priorfs Court 15,000 10,000 6,000 10,000 SRUC Oatridge Campus Tall Ships Youth Trust Victoria & Albert Museum 10,000 2,000 Total educational charltles 176.000 1,231,104 2024 2023 To animal welfare charities: Batter5ea Cats & Dogs Home Blue Cross 10,000 25,000 20,000 10,000 1,000 Brooke Action for working horses & donkeys Canine Partners Dogs Trust Game & Wildlife Trust 50,000 50,000 5,000 WWF-UK Total animal welfare charltles 50,000 121,000 TOTAL DONATIONS 1,857.000 3,251,442 REcfoRS' FUND Under the designation dated 3 December 1985 the Seventh Earl Cadogan directed that the intome ari51ng on the gift from Cadogan Holding5 Company (now Cadogan Holdings Limited) should be paid to one or more of the rectors of Holy Trinity Church, Sloane Street, St Luke's Church. Christchurch Church and Chelsea Old Church. as the trustees may from time to time decide in reimbursement of the rector's or the reciors, parochial working expenses. Any surplus income arising shall be applied in such manner as the trustees may decide. During the year £21.00012023 E17,5001 was paid to the rectors.
THE CADOGAN CHARITY- A Registered Charity {Number 2477731 17 NOTE5 TO THE ACCOUNTS for the year ended 5 April 2024 CHARITABLE ACTIVITIES IcoNTINUEO} GOVERNANCE COSTS 2024 2023 General fund Incoffle.. Audit fee 6,368 5.403 6,368 5,403 The trustees received no remuneration or expenses during the year12023- nill. INVESTMENTS GENERAL PERMANENT ENDOWMENTFUND MÉ7rket Value at 5 April 2024 LISTED Cost 8,617,277 SUTL CBzenove Charity Responsible Multi-A5set Fund 4.997,653 4.771.385 4.997,653 4,771,385 Market Volue ut 5 April 2024 Cost UNLISTED C3dogan Group Holdings Limited.. 4,982,083 Ordinary £1 shares Cadogan Hote15 Group Limited.. 3,923,390 Ordinary £1 shares 60,000 50.860,000 1,370.000 60,000 52,230,0110 The holding of ordinary shares in Cadogan Group Holdin8s Limited and Cadogan Hotels Group Limited comprises 4.15Yo of the allotted shares of each company. The Ninth Earl Cadogan DL, a trustee of the charity, is a director of both companies. During the year the chafity received income of £1,521,279 12023 £1.495,2891 from Cado8an Group Holdings Limited, and nil12023- nil) from Cadogan Hotels Group Limited.
THE CADOGAN CHARITY- A Registered Charity {Number 247773} NOTES TO THE ACCOUNTS for the year ended 5 April 2024 INVESTMENTS ICONTINUEDI Investment movements in the year were as follows.. UK investments listed on a recogni5ed exchange Unlisted investment5 Total Market value at 5 April 2023 4,565,432 50.160,000 54,725,432 Additions Disposals Net gain on revaluation 205,953 2.070.000 2.275,953 Market value at 5 April 2024 4,771.385 52.230,000 57,001,385 Historical cost at 5 April 2024 4,997,653 60.000 5,057,653 CASH AND CASH EQUIVALENTS RECONCILIATION 2024 2023 Cash in bank Brokers deposit Total cash and cash equivalent5 299,664 649 453,882 9,228 463,110 300,313
THE CADOGAN CHARITY_ A Registered Charity (Number 2477731 NOTES TO THE ACCOUNTS for the year ended 5 April 2024 ANALYSIS OF PRINCIPAL STATEMENT OF FINANCIAL ACTIVITIES COMPONENTS For the year ended 5 April 2023 Rector's Restricted Income Fund General Permanent Endowment Fund RÈrtors' Permanent Endowrnent Fund Unrestricted Incorne Fund Total 2023 Total 2022 Note Income and Endowments from: Donations and legaties 1.987,035 1,987,035 552,471 Investment income 1.690,947 1,690,947 1,540.916 Total inwrning resource5 3.677.982 3,677.982 2,093,387 EmndItre on.. Raising funds 8,603 8,603 24,616 3,256.845 17,500 3,274,345 2,757,403 Total expendhure 3,256.845 17,500 8,603 3,282.948 2.782,019 Gains/l1055e51 on investments.. 249,013 12,095,381) Unre3lised 2,436,491 2,436,491 Net Incomellempenditurel 421,137 117,5001 2,427.888 2,831,525 12,535,000) Transfer between fund5 117,5001 17,500 Net rnovernent In lunds 403.637 2.427,888 2,831.525 12.535,0001 Fund balances broughtlorward 64,895 52,345,614 54,880,614 54.519 1,109 52,225,091 Fund balances carried forward 52.345,614 458,156 1.109 54.652.979 64,895 55,177,139
THE CADOGAN CHARITY- A Registered Charity (Number 247773) 20 NOTES TO THE ACCOUNTS for the year ended 5 April 2024 ANALYSIS OF NET ASSEfs BETWEEN FUNDS At S Apri12024 Investments Bank balanS Creditors Total Unrestricted General Fund Restricted Rectors. Fund 315.341 1,109 112,1011 303.240 1.109 Endowment Funds= General Permanent Fund Rectors, Permanent Fund 56,936,490 64.895 116.13871 56,920,353 64,895 57,001,385 300.313 112,1011 57.289.597 At 5 Apri12023 Investments Bank balances Creditor5 Total Unrestricted General Fund Restricted Rectors. Fund 469,559 1.109 111,4031 458.156 1,109 Endowment Fund5= General Permanent Fund Rectors, Permanent Fund 54,660,537 64,895 17,5581 54,652,979 64,895 54.725,432 463,110 111,4031 55,177,139 10 TAXATION The charity is exempt from tax on income and galns falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are appSied to its charitable objects.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) 21 NOTES TO THE ACCOUNTS for the year ended 5 April 2024 li FUTURE DONATIONS The trustees have resolved that significant donations to certain charities will be paid out of future income. The position relating to these intentions is as follows.. Payable in the year to 5 April 2025 Payable in the year to 5 April 2026 Payable in the periods post 5 April 2026 1,185,000 1,085,OCK> 1,835,000 4.105.000 No provision has been made in the accounts for intended donations, a5 these are Subject to future funds bein8 available and payments are at the discretion of the trustees. 12 FINANCIAL ASSETS AND LIABILITIES The following are financial liabilities that qualify a5 basic finanti31 instruments and are initially recognised at transaction value and subsequently measured at their amortised c05t'. 2024 2023 Creditors 12.101 11,403 The following are financial assets that qualify as basic financial instrument5 and are initially recognised at transaction value and subsequently measured at their fair values at the balance sheet date using the closing quoted market price.. 2024 2023 Fixed asset investments 57,001,385 54,725,433