Charlty Numb•T 255961 ROYAL WARRA1 HOLDERS ASSOCIATION CHARITh FUND UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2024 WARD WILLIAMS Charterecs Accountants Belgrave Plouse 3943 Monumènt Hlll Wgybrfdge Surrey KT13 8RN
ROYAL WARRANT HOLDERS ASSOCIATION CHARifi FUND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Trustees. Annual Report Indgpendenl axamlnorf8 report to the Iru3tees statement of financlal actlvlllos Balanca sh681 Notes to th& ffinancial statomont8 10
ROYAL WARRANT HOLDERS A880CIATION CHARITY FUND TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The Iruslees present Ihglr rgport and tha financlal statemants of tha Charlty for the yoar ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS R•glst•r•d charlty nam• Royal Warrant Hold8r8 A88cLlallon Chaty Fund Charlty reglstrntlon numb•r 255961 Prlnclpal offic• No 1 BucklnghBffl Plac8 London Unllèd Klngdom SW1E 6HR The trustees The Iruslees who 8eNed the Charfty durfng th• P•Elod w•r• 88 follows: Pam#la Harper (Chalm18n} Nlck Farfow Phllip Coward (Resigned 11 December 2024) Ann& Hollamby Jo Ngwion Jenny Urquhart IAppolnt•d 13 February 20241 Ind•pond•nt •xamlnèr Ward Wlllam8 Chartered Accountants Belgrave Hou88 3943 Monum8nl Hlll Weybrldg Surr8y KTf3BRN Invo$tm•nt advl8•r Cazenove Capltal Management 12 Moorgate London EC2R 6DA Sollcltors Bircham, CJy8on Bèll 50 Broadway London SW1 H OBL
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND TRUSTEES, ANNUAL REPORT fconUmi•d) YEAR ENDED 31 DECEMBER 2024 The account8 have beon pr8par8d in accorda• wlh trbe accountlng pollclas sat out In noto 1 of the accounts and mplY with the Charfty'g TnJ8t Deed, the Charille$ Act 2011 and "Ac¢ounting and Reportlng by Charities.. Slal8m8nt of R&commended Practlco appll¢8bl6 lo charit18s preparlng Ihdr accounts In accordance wllh tho Flnanclal Reporting Standgrd 8ppll¢able in the UK and R8publlc of jigland IFRS 1021" {Issuod In October 20191. OBJECTJVES AND ACTIVITIES Objèctivas and Alms The Obl8cts of the Chority arè lor the Iru3le&s to apply Incomg of the Chartty for leg81 ¢harilablo purposes In accordanca wlth the Charlty's Trust Dged dated 6 Aprll, 1968. Bs am8nd8d by a deed of V8rlation dated 11 S8pl$mber 2014. The trustses conllmi that Ihey hav8 rafarred lo the guldanc8 ntalned In thg Charity CommiB8ion's g8n&ral guhdance on publlc b&nafitwhen reviewing th8 Charitys aims and oblgdves and In plannlng ftrture oblecllves and $8ttlng the grant rnaklng policy for thg yoex. Appolntm•nt ol trust••6 Trusts$$ may be appolntad for a term of thr88 yoars or less by a resolutlon of thè Coundl of the Royol Warrant Holder8 As8oclallon (the Counclll- Tho tru8tee8 who are also m¥mber3 of the Councll shoukl not constituie o malority ol the trusteas at any one tlme unl&$$ It ha$ beon Imp038ible to fill thè va¢ancy with a non-council member, in accordance Wbth the Trust Doed. Grant maklng Thg Iru8teos maka grant8 In ftjrtherancg oftho ObJective8. Ro4oms poII¢y The truslg9$ aim to maintaln fraa rg8&rve8 In unrestrfctgd funds In order lo facilitate thg maintenance of the Charlty's Invèslmenl portfollo al a level that wlll onable 11 lo gen8ra¢g Incom& sufflclenl fot It to conllnuo lo make giants at 8 rats al lea81 conslstent Mlh previous years. ACHIEVEMENTS AND PERFORMANCE Charltabl• a¢thitles Durfng the year the Charfly $uppotsd various good ¢au8e8 donallng £116.09812023- £105,576). Bonh4m* Auctlon The maln fundralser for 2024, wa8 ¥ ch8rfty auction held 81 Bonham8, Mayfalr. In October hosted by Wlndsor, Eton gnd Di8trfct Royal Warrant Holders Assoclatton, whlch rolsed £99.802 Including Grft Ald for the RWHA Challty Fund. Thg maiorfty of wgre donated by Roy¥l Wafranl-holdlng comp8nlè8.
ROYAL wARRAP HOLDERS ASSOCIATION CHARITY FUND TRUSTEES, ANNUAL REPORT {¢onllnu•d) YEAR ENDED 31 DECEMBER 2024 FINANCIAL R&fjEW Invg¥tm•nt pollcy and oblKtIvgB The portfollo 18 manag•d Indapendenity by C8zenovo CapltAI MonagemenL Thara are no restdctlons on th9 Ch8rfVs pow8r lo inve81. Thg 0ra11 strategy wlhin whl¢h th• Fund M8n8g8rs operate is lo maximlse tot81 retum whll81 rneètlng the Income requlrernents agre8d 8nnu811y with the tru316es. Capllal appTeclatlon is èxpaclad to be no18ss, and ideally substantially better, Ih8n Inflallon over the long-lami. Asset allocallon Is agr8èd during regular meollngs b8ttvaon the Flnanc Sub ComTnitlo8 and the Fund Manager. The Strategy Is rgvlgwed annually wmh the Fund Manager. During tho y8Br under revrew, th8 Income target was mot and thè portfolk* vahjallon w&8 malntaln8d. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov8mlng document The Royal Warrant HoldeTB As8o¢laUon (rho Ass0¢iallonl Chortty Fund (The Chatlty) was 8Stabllshed In 1898 as part of the A850cialten'8 Chartèr of Incorporailon and an Annual Fund for Charliable Obleots paper In 1902. Today Bdministr8llon of lh& Charlty18 gov8med ty a Trusl 0g$d dated 6 Aprfl, 1968, 8$ amended by a deed ofvartBtlon dated 11 Septamber 2014. Rlsk management Thg Iruslegs have a duty to Idanllfy and review tha rtsks lo whlch the Charfty Is axposed and to 8n8ure appropriata contmls are in pla¢8 to provide reasonable a$$ur8nce agalnst fraud and arror. None of the tru$tggs have a beneficial Intaresl In the Chadty. The Trustees are not aW8r8 of any related par9$ connected lo the ¢h8dty, othw than Royal W8ff8nl Holders A8$tsciallon, a cornpany. The Charity operates from prernises rented by that ¢ompBny free of ¢hargo, and Royal Warrant Hold8rs Assoclatton also from Ilm& lo tlm9 Inwrred and rocharygd costs relatlng lo the Charfty. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iru3teèy arg responsible for prgparSng the Tru8tsè8' Annual Report and the flnandgl $tatsments In accordance wllh 8ppll¢abla law and Unttgd Klngdom Accountlng Standards (United Klngdom Generalty Acceptsd Accountlng Pradlc81. The law 8ppllcable to charillos In England &Wale$ r&qulres ihe Iru8lees to propare flnanclal Statements for each ffin8n¢lal year which glvè a true and falr vlew of the slate of aff8lrs of tha Charfty and of tho Incoming re3ource8 Bnd appll¢allon of rosources of the Chgrlty for that pertod. In praparing these fknandal slalem8nls, Iho trustees are requlrad to: sole¢t sullable a¢counllng policles and then gppty Ihern conslstsnlty. observe the methods and prfndpl8s In the ChaTilie$ SORP 2019 {FRS 102)., make judgemènts and estlmat¥s that ar8 reasonablg and prudent.. $tal8 whether appllcable accounting stsndards have bean followed. subiad to any matgrf81 d&partUTe5 disclosed and explalned In thè flnanclal Btslemgnts. prepar8 the financlal 318t8ments on tho golng Concem basls unles$ It 1$ Inapprowlate to presume that Ihe Charity wlll conllnue In optrratlon.
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND TRU8TEE8' ANNUAL REPORT fGonllMI• YEAR ENDED 31 DECEMBER 2024 The tNsteeJ are r•sponBiblo for kgoplng proper 8ccountlng record$ that dlsclosa th rgasonabla accjjracy at any tlme the financial poslh'on of the Charity and enable them lo ensure th81 tho financlal statèmgnts comply with the chart8 Act 2011. the Charities {Accounl3 and Reports} Regulations 2008 hnd the provlsions of the trust de. They aro ofso responsSbla for88feguardlng th& assets ofthe Ch8rlly and henc8 for taking r8asonable 8tep8 for tho prevention and dgtection of fro(td and olher Irr6gularlfje8. INDEPENDENT EXAMINER Ward Wllllarns has bggn fv•appolnlgd 88 Independ&nl 8xamlner fortho 8n8uing year. Slgned on e8 Pam•la Hafp•r Trust99 Data.. 3 Apr,K ZOIS
ROYAL WARRA HOLDERS ASSOCIATION CHARITY FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND YEAR ENDED 31 DECEMBER 2024 I roport lo the tfU8leg8 on my ex8mlnatlon of tha ac¢oun19 of Royal Warrant Hold8rs Assoclatkjn Charlty Fund forthe year ended 31 Do¢èmb&r 2024 whlch arè sét out on pag8s 8 to 15. RESPONSIBILITES AND BASIS OF REPORT As the Chaflty's Iruslees you are respon81ble for thè preparallon ofthe accounts In a¢ccd8n¢g th tha rèqulramants ofth6 Charrties Act 20111lhe Acfl. I report In respect of my examinallon of tho Charltys accounts carilad out under section 145 ofthe Act and In catyng out my examination I have ft)Ilowod all the applcabl8 Dlr8don$ 9On by the Charfty Commlsslon Und sedon 145{Sllbl of the Act. INDEPENDENT EXAMINER'S STATEMENT I have complaled my examination. l ¢onflmi th81 no mattgrs hava ¢om& to my attentlon In connectlon wlih th6 examln8tlon gfvlng me cause to bèllovè that In any matsrf81 respect: Accounting record8 wor¥ nol kapt In respect of th8 Charfty as required ty section 130 of the Act.. or Ihg aocounls do not accord wlth those r0cor(18', or accounts do not compty wlh the appllcable requlrtrments concemlng t form and contenl of accounts set out In the Charftles (Accounts and Reports) Reguladons 2008 other than any raquiremenl that the accounts a 'tru8 and falr vlew which is not a matter con3ideTed as part of an Independent examlnatlon. I have no ci)ncomg and hav8 come across no other mattèrs in ¢onnootlon wlth tha &xomlnath)n to which attenllon should bo drawn In thls report In order to enable a proper understandlng of the accounts to be r6ached, Colln Hamllion ACCA Ward WIIIIAMS Chartared Accountants Belgrgva Hous0 3943 Monument Hlll Weybridge Surrey KT13 8RN Date: L A ,-,1 Zoz ThD not•• On Pa 10 to 15 form prt of thme Iln8n¢l•l •tstemants.
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 Total Fund Total Funds 2024 2023 Not• INCOME Donation3 and1ogaci88 Olher fvndralslng activiti68 Inveslmenl In<x)me 2,837 108,907 14.289 126.033 152.225 5.115 13,900 171,240 TOTAL INCOME EXPENDITURE Investment management costs Charitable activitS9S Govomance costg 17761 1736) 1119,603) 1128,756) 11,878) (1.609) 1122,257) 1131,1011 TOTAL EXPENDITURE NET INCOMIMG R&80URCES BEFORE GAINS AND LOSSES ON INVESTMENTS 3,770 40,139 Gainlllo8sI on Snve8tment as$9ts NEf MOVEMENT IN FUNDS 11 12.706 6.368 1W2 46.507 RECONCILIATION OF FUNDS Total funds brought foM8r<l TOTAL FUNDS CARRIED FORWARD 14 395,452, £411,934 348.945 £395.452 The Statgm&nl of Financiol Actfvilie8 includ&s all gain8 and loss9$ In the year and thorofore a statemgnt of comprehenslv¥ In¢om8 has not b&8n propared. All of the abgvg amounts relatg to conllnulng actlvlli6s. Yh• nots on pag•5 10 10 15forni part of th•s• Ilnanclal 8tstsm•nts.
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND BALANCE SHEET YEAR ENDED 31 DECEMBER 2024 2024 2023 FIXED ASSETS Investments 11 32S,710 313.762 CURRENT ASSEr3 Debtor8 Cash at bank 12 889 101.913 102.B02 116.3781 1,601 104.639 106.240 {24,5501 CREDITOR8: Amount¥ falllng du? wlthin onè y•ar 13 NET CURRENT ASSETS 86.224 81.890 TOTAL ASSETS LESS CURRENT LIABILrriES £411,934 £395,452 FUNDS Unr•strlcted Incorne fvnds 14 411,934 £411,934 395,452 TOTAL FUNDS £395.452 These )Inandal 8talgments were approved by th¢ and aulhorlsed for Issu8 on the 2025. and are 8lgned on their boholf by: Pamela Haer Trustee Nlck Farrow Trustse The rtot•s on pag•s 10 to 15Iom7 Part of th••• Ilnan¢l•l stst•m¢nts.
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND NOTE8 TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES Charlty Inlormatlon Royal Warrant Holders AssociatK)n Chartty Fund is a registered charfty In England and Wal88. Th 16glst8red offlce Is 1 Bu¢Wngham Placa, London, SW1E 8HR. 1.1 Ba816 of •c¢ountlng and as8èi$ment of golng con¢èrn The accounts have been pr6pared In accordance wSlh the Charity'8 Trust Doed. the Charities Act 2011 and 'Accounting and Reportlng by Charitl8s.' Statgmgnt of R8commend8d Pra¢dc8 appllcable lo chBrltlès preparing Ihelr accounts in accofdancè with the Financlal Raporting Standard appllc8ble in the UK and Republlc of Ireland {FRS 102r1188ued In OctcJ¢r 2019}. The Charity Is a Publlc Benefit EntSty as ¢Jefined by FRS 102. The Charity has tak8n advantag8 of tho provlslons In the SORP for ¢h81i1168 apptying FRS 102 UF#Jatè Bullelln 1 not to propare a Stat8m8nt of Cash Flows. Tho accounts ars prepared In starllng. vthlth Is th8 fvnotlonal currency of Ihg Charty. Monetary amounts In th880 flnanclal stat¢mènls are rounded to th• nearest £. The accounts have bgan prepared undor th• historical cost convonllon. The prlnclpal accounllng polldg8 adopted ara 8at out b810w. 1.2 Golng Concern The flnancial $lalom8nts h8Vg been preparod on a going concem bas1$ as the Iruste8s b811ovg that no matertal uncertalntlgs exist. Tha trustoos have consffid8rgd Ihe18vel of funds hok1 and the 8xpe¢t6d level of Income and expondllure lor 12 nKsnth$ from aulhorfslng these financlal statements. The budgeted incoma and expenditure 18 suffidont with the level of r¥serve8 foT the Charfty lo b8 8bl8 to contsnua as a going concam. 1.3 Charttable Funds UnrestrS¢ted funds ore available for u$0 at the discrelton of the trustees In furth&ranco of thelr charitablo obleollvgs unless th8 fvnd8 have b88n dIgnated for other purpos0$. 1A In¢omo Income is ac¢ounted for wh8n the Charity hB$ enlRlomenl lo tha Income, k18 probablè that the Income wlll be rèceived and the amount of Income recelved Can be measured rellBbly. Donatlons ar& ro¢ognised when the Charity has boen notified in writlng of both the amount and the settlement data. Intgrg81 on lund$ held on dgwlt Is Includgd whon recelvable and tho amount con b• measured ieliably by thè Charfty. Other investmènt Incom8 Is r6co9nlsod when r6celv8d 8nd notified by th9 manager of thg Charlty'3 Investment portfotio. 1.5 Expgndltur• Investment management costs compris& those costs d1rfj¢t attributable to m8naglng the inveslmenl portfolio and ialslng Investment Incoma. Charftabl& expendlture from unr&strfctad funds r8prgsènl$ the donauons mado lo eharfllas at the di6cr8tlon of the Trust60s. 1.6 Ca$h and cash gquSvlents Cash and cash ¥quivalents Indude cash In hand, d8posSis held at call with bank8, Other short- tem Ilquld Investments wlth orlginal maturflles of thr88 month8 or less, and bank overdraft8. Bank overdraft3 ar6 shown wllhln borrowlngs In current Ilabillties.
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS f11#•dj YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES 1.7 Inve8tmgnts Investments are a form of basic fin8nclal knslrument and are initially r8corded 81 tholr Iran8aclion valu8 and ar8 subsoquantly meosured althelrfalr vBlue al the balan¢& sh•el d818 uslng the closlng quoted market prlce. The st8lemenl olfinanclal actlvlll¥$ Includ69 the nel g8in$ and losses arfslng on revaluaonS and disp03als throughout the y88r. Th• Charity does not acqulre put opllons. derivallves or other complex flnanclal Instruments. Thè maln form of financlal Tisk fa¢e<l by the Charity Is that of volatlllty In equity markgls and Invesimenl mark&ts du8 lo wider economlc condlllons and inv¥$lm8nl sentiments ¢oncomlng aquilles In certaln Sectors. 1.8 Taxatlon The Charlty 1$ WA&mpt from tsx on charftable act11188. Valug added lax Is not rocovgrabla by the Charfty and ag Such Is Included In the rglevont costs In the St81gm8nt of Flnancial Act11•$. DONATIONS AND LEGACIES Unro$lrl¢ted Total Fund$ Tot81 Funds Funds 2024 2023 Donatlons raceived 2A37 1837 152,225 OTHER FUNDRAISING ACTMTIES Unr•strlct•d Tot•1 Funds Total Funds Funds 2024 2023 Evgnl Incorne Bonham's Auction 9.105 99002 9,105 99,802 5.115 108,907 108,907 5,115 INVESTMENT INCOME Unro$trl¢tod Total Fundj Total Fund$ Funds 2024 2023 Irme frorn manegèd Invethent porfollo 14.289 14,289 13.900 INVESThIENT MANAGEMENT COSTS Unr••trlct•d Total Funds Totol Funds Fundg 2024 2023 Invgstmgnt managemgnt foès 776 776 736 11
ROYAL WARRANT HOLDERS ASSOCIATION CHARifY FUND NOTES TO THE FINANCIAL STATEMENTS (¢ontlnu•d) YEAR ENDED 31 DECEMBER 2024 COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE Unr•$trl¢t•d Total Fund$ Total Funds Fund8 2024 2023 Grants Inole 71 Event axpondilur8 114098 3,505 116.098 3,505 105,578 23,180 119.603 119.603 128,758 COSTS OF CHARITABLE ACTivmES BY ACTivifi TYPE Tho total of grants pald to InSlutIonS durfng the y&arwas a8 follows.. 2024 2023 A8F The Sol¢JleTS' Charfty Action for Children London Independonl Visitors Sorvlee Ar Ambulanca Kent Surrey Su$8ex IKSS) Anna Kennedy Onllne Art Journgys Aesbury Foodbank BSY Snap Bromley Foodbank ITrus8811 Trust NelwoTkl Cancer Research UK ChaTlles Wlngs Cheltenham and Glouc&8t&r HospNal's Charfty Clty Harvest Cloekwork Comwall Air Ambulance Coventy Foodbank Craigellachie Parent Portnorshlp Dem8lza H08pico Caro for Chlldran Demèntla Support Dargharn Crickgt Club East Lolhlan Food Bank Ea31 Park Rldlng for tha D18abl8d Group English Nallonal Opèra Flrsl Story Fortnum's Bee Kgoping Prolect Frlands ol Playbox Greenfingers Ch8rlty Hampshlra & Isle of Wffighl Air Ambulgnc& Helplng Han<J8 Communlty Project Hertfordshire Young Homele88 Holme Fam Homa-slart Guldford Hopg 4 CIC Hospital Rooms John King Br8in Tumour Foundallon Kensington & Chelsea Food Bank LEAF Merfln Contre 10.000 3,000 3.000 3,000 3.000 1,000 3,IXIO 1,000 soo 500 3.000 3,000 3,000 3.000 1.000 3,000 2,850 3.000 3.000 1.000 3,000 3,000 2,500 3,000 3.000 500 2,806 3,000 1,000 3,000 2.770 3,000 3.000 3.lJOO 1.fy)0 10.000 3,000 12-
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (willnu•dJ YEAR ENDED 31 DECEMBER 2024 COSTS OF CHARITABLE ACTMTIES BY ACTIVITY TYPE (eondnu•d) 2024 2023 Metropolitan Publlc Garden3 A8$ocIaon- Elms4London Mllnathort & Klnr089 Ajlotment A8soclallon My N8mg'5 Doddie Foundalon Nation81 Llterocy Trusl Norfolk Ac¢ld9nl & Rescue SeTVi¢g INARSI Norlolk Hosplcp Papyrus Pathm8k8rg Norfolk Peak PaT18h Councll. St Jam88'8 Church. Sutton Plunkett Foundallon Prfscllla Bacon Norfolk Hosplce Charity QEH ng'S Lynn Charfty R831dents ofward 15 Uppor D90sldo Roald Dahl's Marw8lous Chlldron's Chorlty Royal Trinity Hosplce Sm's LItUe Soldlers Sodal Bile St Ggorges Hospital st James'$ Church Piccadllly Star Throwers CIO Storehouse Swan Youth Prol•¢t Thanet Food Llnk The Brltlsh Red Cros8 Soclety The Chapel Royal (Organ S¢ho18rl Th8 Childf8n'3 Surgery Foundatlon The Clrdan Salllng Trust Th& Crealve Dimenslon Trust The Purfe8t Trust The Royal COuntryse Fund The Worfd Land Trust Tlplrèè Communlty Hub CIC True Heroes Radng Tru38ell TNSI Warrfngton Fooilbank We Beam Wèslmlnster Chap81 F(x)dbank WoolCh S¢rvlce User ProÉect (wsup} Youth & Famllies M8tter 3.000 3.000 5,000 5.000 3.000 3,000 51J) 3.500 3.000 2.748 3,000 1.000 3.000 10.000 3.000 1.000 3,000 1,000 3.000 1,000 3.000 1.000 6.000 1,000 500 3.000 3,000 3.000 3,000 10,000 500 1,000 3,000 3,000 1.000 3.000 3,000 3,000 2.500 £116.098 £105.578 Grant fundlng act5vltl•$ Total Funds Ttstsl Fund$ 2024 2023 Grants 116,098 116.098 105.756 13-
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 GOVERNANCE COSTS Unrestrlct•d Total Funds Total Funds Fund$ 2024 2023 Indepondenl examlnar's faes other flnancial costs 660 1.218 £1,878 660 1,218 É1.878 660 949 £1,609 TOTAL EXPENDITURE Th1818 8tatod aftor charglng.. 2024 2023 Indgpendent examlner'8 rernunaralion 680 660 10. TRUSTEES. REMUNERATION AND BENEFITS Therfywère no 8mployeos during tha year. No Trustse received any romunorallon or othor boneflts for the year end¢d 31 Decembe¥ 2024 norfor the year ended 31 De¢omber 2023. No Trusts8 roceived any axpen3e8 for th& year ended 31 Docember 2024 or for the year ended 31 Oecembar 2023. 11. INVESTMENTS Movem•nt In mark•t valu• 2024 2023 Market valu? al 1 January 2024 Acqul8lllon8 at wst DS$po8als Not gainl{loss) on investmgnl valuauons M8rk81 volu& at 31 Dec&mb&r 2024 313.762 308,058 305.822 17581 1306.4841 12.706 6,368 £313,762 £325,710 Hlstori¢al cost at 31 Decembgr 2024 £30W1 £305,153 Analysls of Inve•tm•nts at 31 D•¢ember 2024 Total Fund8 Total Fund8 2024 2023 Schroder ChoAty MulU-A8gel Fund £325.710 £313,762 12. DEBTORS 2024 2023 Othèr d¢btors £889 £1,601 14-
ROYAL WARRANT HOLDERS ASSOCIATION CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (Mnunthlj YEAR ENDED 31 DECEMBER 2024 13. CREDITORS: Amounts lalllng du• wlthln on? ar 2024 2023 Other ¢r&dRors and awruals 16,378 24.550 14. UNRESTRICTED INCOME FUNDS Balance at Outgolng 31 D•¢•mb•r re¥our¢è* 2024 Balanco at l January 2024 Incomlng r•Bources Gan8ral Funds 395,452 138,739 1122,257) 411.934 15. RELATED PARTY DISCLOSURES During thè yoar under revlew. some ofthe tru8ts08 were 8180 members of the Coundl of the Royal Warrant Holdèrs Assoclalion I'lhe Assodallon'l. For thls mason, the Assooialion Is consldèrad to be a ro191gd paty. During th8 year, donation8 totalling £NII ware received from the A830ciation {2023: £10.270}. 16. POST BALANCE SHEET EVENTS There hav¥ b88n no events subsequent lo 31 Oec8mb8r 2024 which would r8qulr8 dl8dosur8 In or ad5u8tment to these accnts(202¥. Non8}. 17. GUARANTEES, FINANCIAL COMMrrMENTS AND ¢ONTINGEKf LIABILITIES There were no guarantoo$ or ntIngent Ilablllll88 requlrfng dl8¢losur6 atellher 31 Decomber 2024 or 31 Decernber 2023.