Charity number. 262217 THE ROGER RAYMOND CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024
THE R£ER RAYMONO CHARITABLE TRUST Ref¢rence and admlnlstratfive detalls Trusltes anrnl rèport Intspenthnt audltorf6 r8POrt Statemenl of financlal actlvities 10 Balance Sheet statement of cash Il¢)ws 12 Notes to the fina141 statements 13-23
THE RER RAYMOND CHARifABLE TRUST Rèference and administrative details forthe earended S A rli 2024 Tru5tee5 M G Raymond AC K ThLYnson C J Sutton Chlef Executlve Officer M G Raymond Ghartty wlstered Nmb 262217 Prancipal office Forest E¢Jge Hanger51ey Hill Ringwood Hsmpshire BH24 3JS Independent audltor Sayers BLfftervL)rth LLP Chartered ALrountarts & Statutory Authtor 3rd Flwr 12 Gough Squaie London EC4A 3DW BankBTS National Westminster Bank PIC 250 Bislwsgats London England EC2M 4AA Messrs Thompson Wilson Chartered Surveyor 42 High Street Princes Ri8borough Buckinghamshire HP27 OAX Inv•stm•nt advi$0 Investee Weatth & Management Gresham Street London EC2V 7QP Rahn & Bodmer Mun8teroase 2 8021 Zuri¢ Swtzerland Pa1
THE ROGER RAYAIOND CHARITABLE TRUST Trustees. Teport earended 5 A il 2W24 forthe The Twslee8 pyesent Iheir annual rqjort togwlhervrilh Ihe fjnanual statements oftr chsrity for the year ended 5 Apri12024. GOVERNING DttUMENT The Roger Raymcffid Chartt4ble Tr1 is a registered thaiity No. 2fj221T ¢)xtsb'tuled by the Trust Dewl <lated 9th Febwary 1971. Enquirie5 should be addressed to the TFU51ees. OBJECTIVES AND AGTIVtres The prinripal purpose aThJ ObjecVe oflhe Charity r6 to make donations to other legaty cor]stituted ctsTilt88 at the discretion of Ihe Trustees. and in accordance with Ihe Trust Deed. The TruBtees have to apyy bolh lh8 income an¢J the (apital of Trust Fd over a period of approximately tenyear5. The gpplication ofTrusl Fund capitsl in 8d¢Jikn"on to inLxJme results in signifi(2nlly hher grant-making Ihan has historically boen sble, and the Trust has reoryanised its arjrnlnistrdtion to aCe¥£ thfis in 8 8uilabty wund mann. The Trust88s' tnkIng pdicy contin¢Jes to be to make such (lonalions to thartbes where they believe t funds wll provide a public benefit. eitrr directy E)r IndidY. havs'ng given due regard to tho public Èenefft guidance published by the Chariiy rmllon in accordance wth Sections 4, 14 and 17 of the Charybes Act 2011. The benefit resulting from grants and donalÈons from Ihe Truslto supported chariies is monrtora(I by meanB of ongrrEg revtews of those charities resuHs. acbvibes and Iheir own Èmpact reporting. Income with wtich to makè tls8 dunatvjns and fhus provide such desired public benèfft l# obtained the Ttust's inveStnt pgjrtrolio bthch is manaued by Ihtr Truste85 and their professional advisors. ThE chariV$ inveslmenl policy is to XiMise investsnent reium5 to help furKI donations made duTing Ihe year. The finanuaE statements attachèd to this report disclose both the NKorrE aiising from th& activity of managing the property and other investments and the applicthon. In 1he of grants and ¢Jonations. of the net income after expenses frl4 such investsnents together wilh any reserves similaty applied. ACHIEVEMENTS AND PERFORPA411CE The al start of th8 year bBlwe8n Rc#3er Rayrn¢d Charitable Trust and Tho RcrfJ8r Raymond Charitable Tru No. 2 was exerAJted and has alkiwed the CoM"ned entity to its 8dministration wilti 80me associated tr)sl saving5. The ccfflporativ8 information has teen updated to reflect the CL¥nbined p05ilron of the Iwo enkn"ties. Frore infoThalion is induded in note 1.3. As pL2nned. the srun1fiea increa$e in grgnts coTrtinuAd. aryd donation6 totmifing £1.481.842 12023.. £555,284) were made in the year. AJt1Ugh Ihe principal beneftciary remwned 0xharn Sth)ol whth received £119,312 12023.. £122.8841, many newsubstant181 gr8ntswere made and sliona TeL2tionships fonred wtth manygrdntees. Once again, this was achieved following a signfficant effort by the grant team lo visit charities in person and discuss Iheif needs f-tO-faCe. Althh Ihi8 approach incurs g)me cc6ts. the proc055 r& hug81y inforynative and Inspifa"onal, and one the Trust intend3 to continue wth to remain fil lor purpose and to )ntille lo assess the Impacl oflhB supwl provided. The add81 res(yJrLe apylled lo rnanaging the grant process has teen, and will continue to be, vttal to administer and control the many valuable proJts belng supported. Net in(ne from renlal InVesthnt properb.es during year, after property eXnses, amounted lo £328,542 12023.. £230,115). Ntrl Inc0Th other investments alnted to £92.541 12023.. £85,250k Thp Tru61 does nDt undertake any fvJnd8lng from extemal sourtes. Investment gains amc*Jnted t0£911.05312023: IrSe8 £220.61. Pag8 2
THE ROGER RAYMOKD CHARITABLE TRUST Tntstees. report (wniinued) for the rended5A STRUCTUR4 GOVERNANCE AND MANAGEMENT Trustee Board The Tntstees Ihè charity during th8 y8ar were a8 frAIows: M G RaywA)nd A C K Thomgjn C J Sutton The organisah"on's affair5 ale cffiducted by the Ttee5 who meet and cornmunate regularty, bjether wlh their arJv150rs wh8re 8ppropriate. lo make any de(on8 required for any aspect of the Trusfs adminislrath'on. m8jordecision¥ are made rK ratified at minuted TnBlee meetings and a subj'ect to a simple majonty vote. The day-to4ay manajement ofthe Charity is (*rried by thB Trustees. Remunerab"on ofTrustee8 is S8tvthh relenCe to market costs of the e¥penence and time provided, altUgh Trustees may and do accept knwer The existing Trustees have the p(rt¥eT to app¢int newTruslee5 al their diseretion. The Charity does mt have a fomMI prc¢Jramme for the indtIOn and training of new Truslees. Trustees, Responslbllltles The tru51e88 are reSF<)nsible for wèparfng Ihe Annual RePrt 8nd Ihè statemenls in ?ceordance wth applicable law and regulations. The law applicable to charities in EtvJl8ftd & Wales requlres lh& truslees lo wepare frnanual slatements for each financial year in 8cccffdance with United Ktngdom Generally Accepted Accounting practi Iunited Kingdom A¢Unting Standards and app]ible lawl. 1wstees rnust not approve the financial st8lerTpnts unlessthey are satisfied thattheygivea true and fairwew of the state of affairs of Ihe charity and oflhe incoming resources and application of resouices, induding the income and expenditure. of Ihe charity forlhat penod. In prepamg Ihese finanual statements, the trustees are required to.. al seIeetsurtab ac(x)unting pdtcies and apply them consistently,. bl cl)seNÈ Ihe met1$ and prine5 in the Charilieg SORP.. CI EEHk8 judw8nts and aLrounling estiateS that are rea50nabl8 and prLvJent," dl Stalewhetherappllcae UKAccountr'ng Standard8 have been follod. subjectlo anymateri81 departures disdosed and explained in the financial statemenls. •) prep8r8 the financial st8tements on lh8 Ing concern t813 unlèss It is inapFrowiate lo presume that thè charity wll continue to operate. Page 3
THE ROGER RAYMOND CHARrrABLE TRUST Trustees. report lcontinuedl for th èaronded SA The tIU8tees are re8ponsible for keèping suffiaent oceounting records that di8clo8e ilh mson8te a1racY al any tirne the financial h"on of Ihe charity and enable Ihern lo ensure that th8 finanaal 51atements comply vhlh tt)e CharitiesAcl 2011, the ChaTty {A¢wJntsand Reports) Regulations 2008 and tFE provisions of Ihe trust deed. They a also responsible for safeguarding the assets of lh8 tharity arKI hence for taking reasonable stepts forthe prevention and detection of fraud and olher irregulanlies. Related Parties At the start of the year the rger ofThe RDger Raymond Charitable Trust wthThe Ruger Raymond Charitable Tru31 . 2 was èxecuted, both charities sharing Ihe 8ame Tnjstees, advisors, objectives and 8ctivth'es. The meryed ents.ty eonlinued Operatior UfKler the name of the fomw. Approv81 forlhB metgerhad been sought frDm the chariti.es )mnIS10n and oblained on 26th April 2021. Subsidiary UndBrtaklng¥ The Roger Raymond Chanlable Trust 100% of the issued share caprtal of Shaw-white Estates Limited, a Company registered in Engiartd and Wales l(x)mp8ny number 005090871, wlxtse principal busin is Ihal of properly invesfmenl. PTDfits attributable to the $ub8idi8ry undertaking are gifted to The Roger Rayrrrfjnd Charitable Trust dendIng on Ihe level of distributable reserve3. The Trust also own5 55.6% of the issued share capital of Roger Raymond Investments Linwted, a mpany registere¢J in EtYJknd and W81e8 IcrJmpany nu[eT 13465317), whose pllncipal business is that of property inve5tThnt. The Company pays (knvid9nds to The Rcger Raymond Ch8ntabl8 Trust depending on the level of disln"bulable reserves. F114ANCIAL REVIEW The Trustees have previ$1Y reVIed the Charity's nped for reserves in line with guidanr issued by the Charity Commi55ion and available elseere. They resolved that there was Th) Icnger8ny requirementforlhem to be held in the long lern 8nd thal they should therefore be distri1le. None of1he Trust's fiJnd5 have èver been the 5ubjed ofany restrictions, and IFr¢ no inlenlton lo place any Teslricthon therEOn as no LnetWOukj accrue from such rich0n. Totd lunrestrictedl fvnds at the y88r-Bnd amounted to £21.061,2ffJ 12023." £21.296,5511. The Trust owns 2 number of investrnenl PToperties froffl whlch It receives rentsl income. The Tftt LyJnb"nugJ lo experien htOrical Iw'gh expenditure on property maintenance and management during th¢ year, will continue to Tealise Ihe rel8ted A8sets lor dvslribution overlhe comina years. Interest and dividends are also receivable from a nymber of qwted and unquoted investments owned by the Trust. Such inve5tmBnts a wularfy reviewed for suilabilrty by IVLe Trustees in conjunclion wtth their professi1 ath'sors. Where cash deposits need to be held, inLx>mè fM them is maximtsed as far 88 pos&ble whilst still ensuring a Suitab prOFK)r1h( of suth cash ean be accessed for any urgerrt grants at short notice. The Tru8tee8 are mindful to ensure that suffiuenl near-rash funds are maintairted to enable Ihe Trust885 to meetlhe IxJrnmitrr2ent5 of the Tnjst. The level of suc re8erve8 18 monitLYed bythe Tnjstees on a continual basi$ IhrrAJthiout Ihe year. The Tru$iee8 are sali5fied Ihat Ihe income and gains gener8ted from the Trusys investments were reasonab18 in the Cirrrlans of th8 year and, until such Invethnts arg eventually ful realis&J. will continue to g8n8fdlfr valuable income to cNrtiitrrtrte towarf5 the highEr levd of donatirffis now teing tsr. P8ge 4
THE ROGER RAYMOND CHARITABLE TRUST Trust5. report fcortinued) for the ear ended 5 A "12024 Tl Tru8t•es undertake risk managemgnt 888esSIts to assess risks fau'ng the Chanty and then. rf rer2&88ry, IMpment risk management StrategS. This invLNves idenb"tw"ng the typp5 of nsk th Charity faces. prioribsino Ihem and identifyino means of mrtigabng such risk. Tr wn¢Jpal uncertainty for the Charrfy 1$ a raYucIn in Inco from ts inve51merts due to tharhgEs in market and econornic conditions. HMvo1. a$ Ihe Chanty does not cary Significant fixed costs and i¥ able erfher to reduce its grants and donation8 or lo apply fvnds from reseNes to CLvnpensate ft)r any such reUctiOn, this Fo&8ibilty ts not sider&J a rtsk to the Trusfs continuab"on. After mkj'ng appropnate enquiries, the trtee5 huve 8 rvgsonable eypectBl>Jn that Ihe Charity has adequale leS to conb.nue in operab.onal existence br Ihe frJr85eeabk future. For Ihis reason, they conkn.nue to adopt 1he goino cy)neèm baS in pp8ng Ihe fin8ncial slatsrnents. Further detsils regllrfing IhB adopth.on ofthe going conc8m basis can be fCld in the Acunts.ng Pdia. PLANS FOR THE FUTURE The Tntstees wll t.ue kn pport dwnb.es to wlN"th they can make surt8ble Lvants and donglb)ns a(rO[dan the purye8 set out in the TnJ8Y8 goveming docurynt. TW Vlill also seek to add olher voice8 to ts orant-mth'ng team to instil new ideas as to the TnJ81 may deliver Irased puLli¢ benefit. EffDrts 11 CLynUe to re¥1nJctU the Trust Fund so th8t lund8 are held ill an aceble fDrm, will quire reali8at)n of varir less eaty realisable investments held, in paraJIar property assets. ReducA ThJ time spenton property managementwll also all¢ywTrusteestoaJncentr8t# nK)re fvllyon the gran1proc. The Tru81ee8 are plea8ed with the progress made during the period tardS its intentn to apply the Trusl Fund caprtal in arjdits.on to inLxJme. AJDng wth giving ftJrthBr SUPFQrt to rnarry of Ihe magnifficent w benefiuaries identified to date, try shall conbnue to meet lo debate cnmWing areas of need in Ihe lJht of eurrent eiruJmstanLs and asS85s ItK>se need5 in such area5 agreed to b8 of relevan, Inlar as the sze of the Trust miktht be able to make a drfferen. This wll certainly indude (x)nl"nuiThJ to )k1 dis0j0ns in PErson wlh addth.onal Iarib.s wth W)rn rt rnay be possible to forrn rneaningfijl onwr¥J TelatK)nthirs and to keep the Trust reant and fft for purrxw. ThK8 rep)rt was apwowj 2024 and sId on tt*ir behdf by". G Raymond Tvjstee Page 5
THE ROGER RAYMOND CHARffABLETRUST Indepen(lent AuditOT Rèport the Trustee5 of The R er mond Ch4rftabk Trust OPINION We have audited the ffinancial ststernents of Th Rojer Raymond charitab Trust Ilhe 'Charity'l foT the ye8r erTded 5 April 2024 wluch comprise thè Statemenl ol Finaftcial Ath'vities, the Balance Sheet, the statement of Cash Flows and Ihe notes to Ihe financial statements, including 8 #ummary of significant accounting pdicAes. The financi reporting framework Ihat has been applied in their preparation 18 applicable taw and United lQ"nuYJom Accounting Stsndards, including Financial Rerxyting Standard 102 The FinaTrcial Reporbng Slandard 8ppli(xble Iv the UK and Republic of Ireland, {United Killm Generalty Accepted Accounting Praclicel. In tyjr oplnnn the financid statents: give a INe and tsir view of the state of the Chanty's affairs Bs at 5 Awil 2024 and of 1he inCon9 resources and applKation of resouices tor Ihe year Ihen onded; have been properfy F¢epaT&J in accordanco with Untted Genernlly Accepted Ac£ounbng Practice,. and have been weparaj in a)rdance with fhe requirements of the Charl$ Act 2011. BASIS FOR OPINION We conducted cwr audTt in aCrdance wlh International Standards on Audrbno IUKI IISAS IUKII and applicat4e law. Our resp)nsibilities under IhDse standards are furlher described in the Auditoffs responsibiliknes for the audrt of Ihe finanaal statements Section of our report. We are in(Jependenl of Ihe Charity in accordan(% wth IhE ethical rewirenErts that aTe ielevant lo our audit (rf the financial Stalennts in the Unilaj Kingdom, including the Financbal Reporling Council's Ettu'cal Standard. and we have fulfilled our other elhical resporfjibilities in 1rdance with these re(wirements. We believe that the audit evidence have obtsined is sUfficnt and appropriale lo prowde a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In audthng financial statements. we have Couded Ihat trustees, use of Ihe Lb)ing o)ncem basis of aet*yJnlng in ts pr&rat ofthE financi41 statements is 8PPtopriale. Ba8ed on the work we have perfomRd. we have not identified any material uncertainties relating lo events or Conditic$ Ihat, indiwdua1 or collectively, MBY cgst significant dbt on the eharity's ability to continuè as a goiThJ eoncem for a period ofal least Iwelve monlhs when Ihe finaneial statements arè aLthorisBd for issue. Ojr rÈsponsitMltlies arkl thB responbildS of INSITIh respect to concern are de$Ltsed in the relevant sectKJns of Ihis report. Page 6
THE ROGER RAYMOND CHARITABLE TRUST Independent Audtlorfs Report to Ihe Trustees of The erRa mond Charita Trust continu OTHER INFORMATION The olher infom)ation rxxnprt8e3 Ihe infomiation induded in IhE annual reFth other than nanLal 51atemEnts and OUT audstc¢s report thereon. trustees are respcffisible forthè olhEr inforrnation ntaIned wiln thts annual rep)rt. OUT OFinion on the nanCi stslemenl$ does not cover the Dther rrrformation and, except lo the extent othemse expfjcitly stated in our rerth. we do not express any fonn of assur8nee cusclusion thereon. Our responstrAlity is to read the ()ther inFDtrnafton and, in doing so, con&derwhether the oth8r infrjrmalion is mateiially inconsistent lIh the fjnanoal statements or our knowledge obtained in the cryjrse of audrt OT OtheiSe appears to be malersally misstated. If we sdenkn'fy Such material inconsistencies or apparent fflBterial misstatements. we are required to determine whether Ihis gives rise lo a material nysstatement in the finanaal statements thernselves. If. based on Ihe we have perfrned. t condude that there is a material misslatementof1hi5 other1rrfomtI0n, we are requi to rewllhatfad. We have Th)thing to report in .$ reoard. OTHER MATTER The comparative ftgures in Ihe finanrial statements indude those of Roger Rayrrmd Charitable Trusl No 2, whodid not rewire an audit underthe charib.ès Act 2011. Al the start 0ftr financial year, thè Trust merged their ach"wtieg wth Roger Raymond Charitable Trust No. 2, a charity il shared the same TnBtse, objectives and activitt'es. MATfERS ON WHICH WE ARE REQUIR&> TO REPORT BY EXCEPTION We have nDthing lo pOrt in Pect of the folbw.ng matter8 wthere Ihe Charil8 {A(YJ)wts and Repjrts) Regulations 2008 requires us to report to you if, in ouropinion.. . the in1ormatn gwen in the Trustees. rert 15 Iiicor15iStenl in any matla1 p8¢1 with the finarrial slat8ments'. or . thè CFkqrity has not kept sufficient accounting records,. or . the Chariivs tln8ttcial Statements are n(A in aeeNnt wlh the aca)unl"ng r¢cordB and rebJm8; We have not received all the information and explanations wè r8quire forour &udit. RespoMSiBiES OF TRUSTEES exF4ainerJ tnore fulty in the Tntstees. respDnsibilibe8 statement set otsl on page 3, Ihe Trustees are responsible for the preparatton of the financi81 stalements and beirvj satisfied thal they gtve a true and fair ew, and for such intemd ujnlrol as the Trustees deterrnine neeessary to enable the preparaboTr of finanaal statements Ihat are free from material misststement. whether due to fraud or In preparing ttr ffinanal Slatements. the Trustees are responsible for d858wng the charis ability to continue 88 a going concem. discloslng, 83 applicable. matters fvlated to going concem and USI Ihe ing concern basis of aCLnb.9 unless the Trusle6s gither inleThJ lo liquidate th8 Charrty or to cease operations, or have no reali8tiG altemative but to do 80. Page 7
THE ROGER RAYIAOND CHARifABLETRUST Intyndent Auditor's Report to thp Trustses of The Trnd Charitablè Trust onfinued AuDIT0s RESPONSIBILMES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appTrted as auditor under secb.on 144 of Ihe Charilies Act 2011 and r4kKrt in accor{18n vrilh the and retevant regulat$ mgdo ¢x hawng effect Ihereunder. Our objectives are to obtain reasonable assurance gbtsul whether the finanaal statementg a8 a whole ore free from material Trwsslatemenl, whelher due to fraL OT error, and to issue an Auditorfs repjrt that inclLMJe5 our opinion. Reasonable assurance is a high 18V81 of assurance, bjt is not a guarantee that an oudit conduded in accordance ¥M1h ISAS IUKI wll always detect a matenal misstatement when d exists. Mi$statemenb arise IrDrn fraud or error antj are con5ider8d m8terial il, individually or in the agwegale, Ihey could asOnab be expected to inlluence Ihe economic deClOn& of users taken on Ihe basi8 of I1e financrdl slaternents. Irregularbtses. induding fraud. are instan¢e8 of rnM-compliance 1th laws and reoulation$. We design procedure5 in line wilh our respOnbillI¢e$, OLrtlintrd alMW8, lo detect material misstatemBnts in respecl of irregu18ritie8. including fraud. The extent to which our procedures are patsIe of delecbng irregularities, induding fraud is detaifej telow.. t)"9Cu1OnS were held with, and enquiriÈ5 maite of management and Ihe Trustees with a view lo identifying those laws and regulations Ihat ccJld te exFected to have a wolerid impact on the finan(a81 statemen15. Dtsring the engagement team briefing, the outcome of these discussions and enquirtes were $hared wth the team, a5 w811 as consderdtion as to ¥¥heTe and how fraud may occur in Ihe entty. The follWIng taws regulBI"¢MbS are signiffcant to the entity". . L2ws and regulab"on8 Ccnsidered to have a dlreet thcl on the firrar¥ial slatemttrrts indude UK finanual FEporh'ng standards anfl Charity Law. Ttrh)se laws and regulation8 fur which non-compliance may be kndamentsl to Ihe operating aspects of the th8rrty. induding Mana"ng inveslmenl Properties, and Ifore have a material effect on the finanual Statements include.. co1rplian wilh Ihe chan"labfe obieclives, public benefrt. fundraising regula"0rts. 8gtÈguardiThJ, health and safEty leg318lion. ffiTe safety regulation. and landlord and tenant legislation. Audit procedures undertakèn in resrKJnse to Ihe potential WiBk3 relating to Irregul&ilie3 (%thi¢h indude fraud and non-mplI8n¢e with laws and regulalionsl comprised of." inquiries of managem&nt and the Trust as to whether the enbty mplIeS wrfh such laws and regulations,. enquiries wlh the same concerning any actual or FQtenlial Itb'ualion or dMs., review of Trustee meeling minutes," testhng the appropriatene&4 of enlries in Ihe noThnd1 ledger. including joumal entries.. reewIng Iransa¢tions around Ihe entl of the reportlng peritjd. an(E Ihp p8rfDnnance of anaiwcai prOljre8 lo ldentlty Unexpeed mDverTt8nts in 8ccoiJnt balan may be indicative of fraud. No instsnces ol material n-compliance were idenlthed. HI)Ver. Ihe likelthoj of delectirdj inEgut8ribes. ClUdIng trdud, is limited by the inh8t8nl diffKulfy in deteth.ng irregularities. the effectiveness of IhE Entity's contrds. and tl n8lurE, liming and extent of the audit procedures perfomTrd. Irregulariltes thBf result from fraud might ioherentty rnore dirricull to detect than irwul&ritses that result from ermr. As explained 8bove. Ihere is an unavridabje risk that materi81 m¢s5t8lements may not bÈ detected, even though the audit has been planned and perfonned in ac&anCe knilh ISAS IUKI. A further descripth'on of ¢)ur responsibilrfses for Ihe audit of financi81 8talements is lucated rm the Financial Reporting Council's website at. https.'IfvAWW.frc.org.uklaudilorsrespon$ibilib"es. Thi$ deserfplton forwo part ofour ttudrtDI5 report. Pag6 8
THE ROGER RAYMOND CHARABLE TRUST IINlependentAudrtorfs Report to theTrustee5 ofThe mond Charitable Trust contlnued USE OF OUR REPIJRT This report 1$ made solely fo Ihe Charivs Iwstees. as 8 tdy, in aLlan wth Part 4 of the Charib"e8 (AlntS and Reports) Regulations 2008. Our audit work has bè8n undertaken so Ihal we might state to the Charity's trustees those matteTS we rewired to state to them in an Auditorfs report and for no othw purpose. To the fullESt extent pemiitted by law, we do not accept or assume respcffisibility to anyone olh8r lha the Chaty and it5 truslees, as a body, for our audit work. this report, or lor Ihe opinions we hav Hannah cle (Senior 8tatutory a15) For and on b8haifof Sayer5 Butterworth LLP Chartered Accountants & StatOry Auditor 3rd Floor 12 &)ugh Square LorKlon EC4A 3DW Sayers ButterM>rth LLP ts eth.ble to act as an a110r in terrrts ofsedion 1212 ofthe Companies Page 9
THE ROGER RAYMOND cHARABLE TRUST statÈmÈnt olffnanelal actiyrties for the ear ended S A il 2024 Tolal Unrestiicted Funds 2024 Total Unrestiided Ftsn(ts 2023 Combin8d RRCT RRCT2 INCOME FROM: 1ntrnert Pruperty DividerKlsfrpm UK SLb8idlary D1wdeThlsfM UK Assoctale senties and AJtemati¥p Assets 491892 18,OQQ 486,041 425,427 37,500 4667 60.614 4667 75,518 66,518 534.112 Total tKome 615fft77 603,726 69,614 EXPEN0uRE IJI: RaisirpJ knjs.. 8trnenlpTopetym8ll8gement In¥8slm8nt por"0 MarNnI Ctab acb4ities'. Grarrts in aCLx>rdarKe wlh ctrErilabb aims 1162850 P1.644 (255.926) (245,927) (32.435) (32,435) (9.999) 5 {1A81042 (555.384) (409,384) (146.OW) &)¥eFrore aThJ sw)C0Str (85.585 {62.560J (57.432) (5.128) Total EypBThJitutE 11.762.021> (906,305) ¢745,178) (161,127) INVESTMENT NsUL05SEs trNe3trnerrt prDpe EqLHty kneslment in ASlate Eouity sIMent in S$¢diary secwib.es arKJ 0r sIme 925,939 (14.726) f122.T05) 14.578) (4.578) P3,843) (23,843) (186.464) {186.464) 9.545 9,545 107.979 3 1109,3401 95.727 1,273 Brokerbank accoun18 Nel Ik)ssesygairts on insknenI assets 911,053 (220,066) (328.045) 107,979 NET IEXPENDtruREyWCOME AND IIOVEMENT IN FUNDS 3V91) (52?.845) (539,ti) RECONCILIATION OF FUNDS: Total fjJTrJs brotyjmforward 12 212961 21.819,196 19.476.343 2.342,8&1 TOTAL FUNDS CPRRED F(XIWARD 12 2181360 21.296.551 18.937.232 2.359.319 2023: RRCT .. The RrYJ8r Raymond Charitable TnBI RRcf2." The Rr Raymond Gharitable Trust No. 2 notes on pages 13 to YJ form part of Ihese finanaBI slatements. pa 10
THE ROGER RAYND CHARITABLE TRUST Balance sheet asats ri12024 Total Unre5trthd Fund5 Total UnTr&n"cl8dFunds 2024 2023 RRCT Combined RRCT2 FIXED ASSETS E8tmert PrDperlie8 FIr0ral A88ets 12850.IJOO 12,701,000 11.046,OLX¢ 1,655,0 E(BNty kThEs1nEnt." Sub&diarie5 SecLrrib"es 8fKJ Alem&ts As¥ets Lortrtsrn h)an Bker cash bah13 4720,383 2.656N89 318270 111019 4.829.723 3.046.698 9,OLX7 70.901 70.901 8,256.322 T.947,322 309.OCXI 20.957.322 18,993.322 1.964.000 4,829.723 3.046.698 309.000 7.806961 20.756961 CURREMT ASSETS Debknr# 43J75 452AOg 96.519 $92J03 53.529 95.810 250.9 400,322 49,916 95.810 230.339 376,085 3.613 due from 8Utidiaries 24,257 REDoRs Actd Grarts faHiro duewtiyn one par r242.500} 145.504) 1288.QIH) 10 (61.093) (61,093) (51.883) (51,883) tg.210) (9.210) NET CURRENT ASSETS 304299 339,229 324,182 15,047 NET ASSETS 21.061360 21.296.551 19.37T.504 1.979.047 CHARITYFUNOS 21.061280 21,296,551 19,317.504 1.979,047 TOTAL FUNDS 12 11.0fj1.ZO0 21,296,551 19.311.504 7.979,04T The fjnanrjal 8ta an¢J on Iheir teholf, ty. IA G Raymond Trustee A C K Thomson TNstee ThB notes on pa$ 13 kn r3 fDrrn pgrt oflhe8e anrAal statements. Page11
THE ROGER RAYMOND cHARABLE TRUST Slaternnt of cash 11vs forthe r ended 5 A ri12024 74Aal UnrestrisW Fund5 Total unrosts1 Funds 21124 2023 Combined RRCT RRCT2 Net tncomeforthe yeara5 perslatementof Fknanelal A¢llvnks {1.121) (5f2.644) (539.110) 16,466 Remove Such netlncomearlslngfronL Netlknssesygair6 on irntslm8rts kerestaddl tsi bjancapitsl CLwreroyGornrsionefkd2 "doT¥Js. krteRst4ryJ Prt (12.947) 9270 1373 015.677 (220.065) (328.044) 107,979 (9,546) (9.546) 603,72 534,112 69,614 (383.115) (194522) f186.593) {613,273} currta$S¢t mov•monts Decr888el(IrcreaG6)Inders Teaselldee8Sel increditors easellde(xpas91 in4wd gra 83027 P581 J 242WO (36,469) 23.463 (23,696) 23.325 f12,773J 138 230A68 (13.006) f3711 (12,635) NeASH USED ByIYJERATrIGACTJVEs I1,1v&8) (978.7651 (73¢003) (182.762) Ca5hllows relallng to Inve¥lm¢ntactl4fltles: DisideI5, [r2$tTry Rentfrorn kn¥estm8rts Proceeds trom Sa ofnE¥41 asse15 PL¥¢hase Of)In881&S88ts R8lum oFcaprfal onGb5uTr ofassociaie Loanto SLbdl¥ry DisPav(pchaseI ofIre81M8rtPrOpety Nelcash provkled by lrt¥e51vtg activll elsrA 1M61.3 11.175A231 603,726 520.937 {519,309J 8.322 534.112 4fj2.952 (519,309J 8.322 69,614 57.979 136Wts) 676,939 306.295 919.965 30fj.295 792,372 1N28W2 127.593 CHANCE CASH W4D CASH EWWALENT8 t4 THE YEAR 1113WI (55,169) Cash •TrJ Gasheqwvaknrts brougltfoNArd a2185 320.685 244,872 74813 CASH ANIJ CASH EQUIVALENTS CARRIED FORWARD 208J39 321.885 301.241 20,644 Repentsd by: Cash at bar aTKI in Bn*erb8fl( accourls 96,519 111.820 208A39 250,983 70.901 321,885 YJO,339 70.1 301.241 20,044 The nc+tes on Pa 13 10 23 fonn part of these firwiclal slaternents. Page 12
THE ROGER RAYMOND CHARThABLE TRUST Notes to the financial statements for the ar ended 5 A il 2024 1. AccouTrmNG POUCIES 1.1 Basis of preparation of11nancfial statemÈnis The financial stalements have b prepared to give a and fairf view and havè departéd from the Charibes IAcLounts and Repts) Regul8tions 2008 only to the extent required to provide a 1rue and fair vi. Th15 departure has involved fdlowing the 'Accounlwig and Rewriing by Charities." Ststemenl of Recommend PRctiee appliL¥ble to chariti85 preparing their aco)unts In a)rdan wlh Ihe Financral Reporting Standard applicgble in the UK and Republic of I7nd IFRS 1021 ISeo)nd Edition), rdther than the 'Accounting 8nd Reporting by Charities.. Slatemenl of Re¢cnmended PraCte aif8div8 from 1 14priI 2005. whKh has since been wttylrdwn. The finanLyal statem8nts have been prepared bjnder the historical cast L¥JnvenliM item$ (xgnK8ed at rA)St or tr8n$action value unless otherwisè stated in the Televant not8s to thesg a¢nI The financial stratemeats hBve been prepared in rdance with the 'Accounting and Reporting by Chatib"e5'. SlatemBnl of RerA)mmended Practice applicable lo charities preparing their acwJnt5 in accordance with the Financial ReFKJrting Standar<J applicable in Ihè UK and Republic of Iland IFRS 1021 (send Edition), gnd the Finanual Reporting Stsndard appIlble in the Uniled lQ"ngdom and Repubk of Ireland IFRS 1021 and Ihe Charities 2011. Thè Rogtr Rayrrn)nd Charitsble Trust cuislilutes a publtc benefit enlity a$ dÈffned by FRS 102. The Charity has taken advantage of the exempts.on awdilable der the Charities Aci 2011 and has not prepared rxmsdid4ted financial statements. due to Ihe we of the charity. These )Inancial statements are ther6fom Chari8 separate financial 5tatemen&. 1.2 Goin9 concern The financial 5tat8ffjgnts have been prepared on a L¥)ing conc6m basis. The Trustees that renlal income from the UK prr4Jerties and t'r fwr values wll not be maleiially impacted over the next 12 monlh$ by UK orglobal events. 1.3 Presentatlon of comparalive5 for merged entities Oue lo the lewh of name5 of Ihe charities Ihel merged at the start of Ihe year. comparalive fjgure column headrngsofRRCT shId be read as relatlngtoThE Roger Raymond Charitable Trust, and heading8 of RRCT2 8hould be read as relating to the The Roger Raymond Charitable Tntst No. 2. If there is only a single comparnkn"ve, Ih8n Ihgt figure retales SIM to the fomwTrust and no idBntical figure 15 shown as a ombinalion of bolh. as itwould be supèffluou8. In ts previous year, a donation was rerEived by The Rts3$r RayThK)nd Chwitable Trust from Rogèr Raymond Charitable Trusl M). 2. In orderlo avoid doUte counting, the transtiOn been treated as contra. and is shown in Note 5. 1.4 InvesbThent kY¢)ptrtiES Inve5knenl rxopètlfies are 81ated in the bala8 sh881 at fair value. Invesknent w.ns and losses, whether re81i8ed or unreali5ed, are cornbined and in thè heading 'GaInlI0$8esI on ffixed as8ets' in the Statement of Fingtlcial Activitie8. 1.5 Other Investmej UK and ovtsts8as investments are iThJuded In the accounts at market value. Th¢ inve8lment irs 8S8OCAate and iTrveslment In subsidiary are bolh stated al marftet value, whhth 1$ based on the Truslee8' estimate of the net assel value of the company after an e8limalal prowsion for tax payable. Realised and unrealised gains and losse5 are rnbined and shown in the headtng 'Gainsl{losses) on ffixed asse in the Slatement of Ffnanct81 Activioes as are interest and dNidends. Page 13
THE ROGER RAYMOND CHARITABLE TRusr Notes to financlal 5tatenRnts forthe ear ended 5 A "12024 cL¥ntiNed 1 ACCOUNTING POLICIES (continue 1.6 Fund strucbjrg All funds are unrestnded and are availablb for use al Ihe discrethon of ts Trustees In rVAnCe of the general objectives of the chanty and wh¢L have nol been des1&aj for other purposes. 1.7 IncomlThJ Yesauw All income v6 reccYJnised onr the tharity h86 entrtkment to the income, it 13 wobable Ihat the income be received and Ihe amrwnl of income reVable eon te measured reliably. Inve8lmgnt income, g@S and105ses are allo¢ate(I to the 8ts unrestricted fvnd. Income tsx Terable in relalion to investTh*nt is recognised at the time tF inveslmenl income is receivthe. Into$t on fimds held deposit is Includa(l receivable arrfj Ihe amounl can be rneasured reliabty by the tharty". 5s nom7ally un the noUfi¢aNon of the interest paid or payable by bank. 1.8 Expenditure and Allocatton of costs E¥p?ndilure is accounted lor on an acm18 basi$ and has been included under exw categories Ihat aggregate all costs for altLxation to actMtie8. TN51ees undertake Ihe administratton and gover11an Df 1he TtusL The proportion of IhEir costs attributable to the activi15 of Raising Funds have been allocated lo IhD8e aeth"th"es on the ba8is of Ime spent. The ExFenditure on Rai&ng Fttnds comprises Ihese allocated costs plus all direct costs in(yJrred in managing lh& Charl8 inve8lmenl EX)rWl08. Expenditure on Charitable Activilw includes all direGt rAxts incurred in the pursuit the charitable ams ofthe thlty. Goveanance ccsts oJmpii5e all costs incUed in c(ffinection wlh the admini3lrnb.on of ctAiily olherlhan those allocatsd to Raising Funds as aLK>ve. Irrecoverable VAT charged against the category cl resources expend for it WAS incurred. 1.9 Oebtors Trade and olher debtols are recLyJnised at thB settlement amount after any trade di8rUnt offered. Prepayments are valued at th? gmount Prepa net of any trade discounts c(ee$S1Onary loans are e8&ured inrtialty 81 transaclion vdue and subsequenlty al amortk3ed )8t Ihe 8ffècb.vè irrterest metfv)d. 1.10 Cash at b Cash al bank Irude8 cash and shorl lem highly Iwuid investments wrth a short mplurity of three months or less from the dale of acqui8itson or opening oflh8 deposit or51mllaracjnl. Page 14
THE ROGER RAYMOND CHARrrABLE TRUST Notes to the financial statements forthe ear ended 5 A con14nu 1 ACCOUKflNG POLICIES (continuerf 1.11 CrEdltors Liabikties are Tecognised there is an obligation at Ihe Balanee St d as a re8uf( of a event, it 18 PTob8tAe Ih8t a tran51er of eOrniC benefit will te required in settltrtnent, and Ihe amount of the tIteMent can be estimat reli8bty. Liabilib"es are reLwised al the amount Ihat Ihe charity antscipates il wll pay to settle the debt or fhe amount il ha6 received as advanced payments for the goods or services it musl prwde. PrDvisiDn5 are measured al the be81 e81imak of the 8mounts required to Sett the obliualion. 1.12 Financial in5truNnls The charity only ha5 financial a&sels and financial liabilrlies of a kind Ihat quallty as ba&c financial instruments. Bac finanaal inslrumerrts are inibally recDgni5ed al Iransacb'on value and gubsequently measured at Their settlem8nt value wrfh the eXCePtn of Ihe nCeSsiOnary 108n which is sub5equenlly rn8a8ured at aMOrtis cost using the effective interest mdhod. 1.13 Analysis of assets ld liabilrties belween fvnd5 Atl ndS are hpld unrestrfet8d fijnds. 1.14 Forelgn currencie5 Monetary assets and liabilitses in foreign rJjrrvneS arè transFalet1 into sterting at Ihe rates of exchange ruling at Ihe balance sheet date. Transadtrans in forei currencies aFe trdnslated inlo sleding at the rate of excharfge ruling at the date ol Ihe Iransa¢tion. Exthange dIfferenS are taken Irrto am&nt in arTwing 8t the surpfus or (Sefit fDrlhe year. I DONATIONS RECEIVED 2024 2023 Shaw-while Eslates L1rni[ (Note 3.1) As for tPÈ pwl(Kts year, the Trust did not receive a dcfflalion under Deed of Covenarrt from tts 8ubsidiary Shaw- White Estales Limited a51halcompany did not produce a surplus due tO8ignificantOJ5tsincuThed on its inv85tmtnt Page15
THE ROGER RAYMOND CHARITABLE TRU Notes to the financlal statements for the ear ended 5 A rfil 2024 continued 3. EQUtrY INSTmE1¥rs IN UK ASSOCIATES AND SUBSIOIARES 3.1 UK SUBSIDIARY- SHAW-IhTrirfE ESTATES LIMITED The charity owns1he entire i&%ued share capitd of Shaw-white E5tak8 timited, a comp8ny gislered in England and Wale5 wilh company num1[ 005tJ9087. The principal act.vity of the subsidiary is that of property invegtmenL The vabjation al Ihe balancè sheet date was as folioThE'. 2024 2023 Opentng market value at 6 April X123 1.956.057 1.991.320 Unrealiwj loss on inveslment C103ing martet value at 5 April 2024 No donation12023." £nill was made under Deed of Covenant to Charity from Shaw-white Eststes Limitgj. When applirable, donations gre induded in note 10. ar11n owed by sutsidiary entities. 3.2 IJK SUBSIDIARY- ROGER RAYMOND INVESTMENfs LITED The tharity owns 55.56% of Ihe iUed share capital ol Rcyr Raymrffid Invtstments LinNtsd. Ttrw's Iriv881rnerrt resulted from the demerger during Ihe ye8r ended S April 20Y2 of Malcdm Raymond Invesknerrts mited, in whch Ihe charity then 0ed 33.33% of the issued share capital. M G RayThond. who is 8 Trustee of Ihe Roger Raymond Charitable Trust during the year. is also a Dirèctor of both Malcojrn RayrTr)n¢J Inve31ryprts Limiled and RLwJer RaYmCd InveslmBnts Limtted and a shareholder ollhe latter. ThB principal activity oflhe subsidiary that of a hoing company, wthich in turn owns 100% of the i88ued 8h8rÈ capital of RRI knnlted. RRI Hdfling5 Limiled's princi[1 activTty is Ih4t of PTDP8rty inve51ml. The vduation at the balanc8 shEet date was as foll 2tr23 Opening marke* value at 6 April 2023 2.873.fj6fj 914 Z862.246 Unrealised gainl(l¢A81 rm investment Closing market value at 5 April 2024 Dividends Rece1 Pagè16
THE ROGER RAYMOND cHARABLE TRUST Note5 to the financial statements fvr the ar ended 5 A continued 3J UK ASSOCIATE- MRI HOLDINGS LIMITED During the previous year certain dislributions had been receNgJ from Malcolm RaYnnd Invesfrnems Limrted following its demerger lo albw il to be closed. Tht figutè 15 indud8d merelyforccffnparalNe puip(Ae8. U*re was no compgny extant during Ihe year. M G Raym1, wFbJ was a Trustee of the Rr4er Raymond ChlIable Trust during the year, had also been a Director of bolh MRJ HdIng8 Ltmfted and Malcc4m Raymond Inveslments Liwuted, and a 8hareholder of the 2024 2023 Opening mthet value at 6 Nw"12022 Capitsl Returned unliSed gainlllossl on ine[rt c11n tnarket V8lu8 at 5 April 20rJ 12.900 (8,322) DIder1d$ Re1Ved INCOME FROM SECURlEs AND ALTERNATIVE Totsl funds 2024 Total funds 2023 UK securittes 32.394 39.62T Overseas sritieS & altematrve ossets 35,611 23.301 Bank and other inteml Page 17
THE ROGER RAYMOND CHARABLE TRUST Notes to the financial 5tsteThnts foT the year ended S April 2024 (contiNed) CHARABLE ACTIVITIES The followng ara Sn example of Ihe charities supp)rted by the Trust: Unrestrlcted Funds 2024 2023 RRCT RRCT2- Unaudited Act Through Errterprise rord House Anolherway AFundel Crlcket FOUndaOn Bloxh8m Sthool Books toAfrica Brftlsh LlverTrust Brith"sh Red Cross 48,OOQ 30,000 20,000 20.000 119,312 10,000 50.QOO 25.QOO 00.000 25,000 50,000 225 10,000 25,000 24,000 70,OIYJ 35.00(1 340011 500 22,000 25.000 25,000 30.000 23.625 50.0 40.OL¥) 22.5LXI 22.500 122884 122.884 ChTlstian DavKI Shepher(I Wildlife Fndation DEKI Fishing for Heroe Five Talents Full Circle Foundatlon Isabel Baker Fund Jfin EducAtirm Tru81 John EgglngTTUSt MCC Foundation Poole Wasts Not Want Not Practical Adion RAFA Re.Cyde Sand Dams Wurldwide Soracen¥ Swrts Foundation Sightwvet StOTlight CFMIdn'B Furtd Tree Wildemess Foundation Worfd LawEd Trust Indivhfjual grants under£21,0 34.ot 32.5C19 10.000 32.500 24.OLXI 27.5CIJ 27.500 25C 35.1 10.0 10.OLI) 10.CIXI 32.5L 35.oc 32,StKI fJ,51XI 50.000 30.000 65.000 202,180 1.239.342 16.5C 14500 11.0 88,5 555,384 qo,otso 1,000 34,500 409,384 Accrued Grants Contra Donation between Tnjsls (3CQ.OOOJ 109,384 (30QOL) 406.OLiI 1A81,842 555.3 Acuued grants are Ilb)se Wre Trust ha5 athsed benefficiaries of a fijbjre payment, whEre it is reasonable b exp&¢t Ihat any pre-condi*ons that may have been applled to ryants will be meL pa 18
THE ROGER RAYMOND CHARABLE TRUST Notes to the fjnancial StatenIS ft>rthe rendedSA ril 2024 continued GOVERNANCE AND SUPPORT COSTS Unre5trithd Funds 2024 UnrestiictedFunds 2023 Conlbingd RRCT RRCT2. Unaudrte Trustees. mrThJneration 75.875 67.375 61,875 Truste85' travel exp$65 & sundrie¥ 78A44 62.677 62.677 Less: Allocated to Shaw-while E3tate$ Ltd Subsidiary 5.O¢JO 73,444 63.177 57.677 5.5t Less.. Akxaled lo RaKing Funds (Note 1.71 Invesknenl wcyerty management Investment portrtslio management (26,50)) 12.51]01 (22.500) 12,5001 14,OCOI 2.500 000 129.000) (24OIXI) (4.OOOJ 34,177 32.677 staiutory cts. Audit Fee5 Valuation Fees 14400 qO.800 10.800 Other Supporl Costs". Legal & Pro[s1On01 Nationa] Insur8nc8 Travel and Meekn"nL Bank charges Sunthy expenses Infom)at*Jn TecknoJDJy 7.7SO 1.627 7.124 3.253 3.0 5.860 436 5.860 28 1461 1,713 85.5B5 2.464 470 2.464 470 5T.432 5.128 Page19
THE ROGER RAYMOND CHARITABLE TRUST Notès to the flnanclal 5tatsments forthE ear ended S A il 2024 ¢ontinued TRUSTEES. COSTS Remunerakn"Dn was payable to the followng Trustees. wkKJ are key management peTsonnd. of The Rooer Raymond ChaTrtable TN81. fvr pmfe$sSon serviv in accordance wrfh the prov10 of the Trust Deed. Figures include wo perforned on Ihe Trusfs sub%"diary. Shaw-white Estates Lirnsled. as shown allocated above in Note 6. Unrestricted Fund5 2024 2023 Comthned RRCT RRcr2- Unauditod M G RayrrKnd A C K T1m£On 18.79) 57.125 24.(0 43.375 18,& 43.375 5,500 Total Remunation 67.375 s.0 Travel and Meetlng Costs reJn*ursed to Trustee5 Unrestricted Funts 2024 X123 Comned RRGT RRcf2- Unauth'led M G Raym A C K Thomson 551 2.018 183 619 183 619 ThBr8 arg no dlt8cI ofTho Roggr Raymond Charftable Trust. Paue 20
THE ROGER RAYMOND CHARABLE TRUST Notes lo the ftnanclal statements forthe ar ended 5 A "12024 continu 7. INVESTMENT PROPERTY UnrestrictEd Funds 2024 3023 com1)ed RRCT RRCT2. Urjaudited Cost orvaluatlon At 6 Awl 2023 701,000 13.080.000 11.175.CYIO 1.905.(1 Addib"on at co8t 300.0( (600,(X} 179.000) 12,701.LW 300,000 (300,0(70 (129,OtXIJ 11.046,( lJ8pwal al bwk value Revaluathon 1674000) 924.000 4950,000 (300.tKIO) At 5 April 2024 1.655,000 Investment prOPee$ are stated In Ihg finattcl statèmants on 8n open market value b8w8 at 31 March 2024 and were vdued by Messrs. Th(Mpson Wilson. Chart6rÈd rVeYON. . SECURMES AND ALTERNATIVE ASSETS Unrestiicted Funds 2024 2023 Openlng markelvalue at6Apn12023 3.044698 3.q76.805 Acry#sition5 alco Disposal proceeds Galn5 and losses 1.174423 11&61 J59) 519.309 (462.952) Realised gain5 1 Ibsseslon disposals based on openiro markelval Ltrrealised gairts l(lJsge81 on retttiOn in Ihe ar 39J)57 {19.618) 03J55 17.285) (225.111) 58.265 EthrYJe galrsllk>s88818t se8rend te .727 2.65W9 -186,464 3,04$.698 C105ing market ¥alue at S APTI 2024 ATralysls of Investments Llsted investments 2.65W9 3,048.698
THE ROGER RAYMOND CHARABLE TRUST Notes to the financial statements forthe ear ended 5 A ril 2024 contlNe DEBTORS Unrestiicted Funds 2024 2023 Combined RRCT FCT2. Unaudrted Renlal debtors Otr debtor5 18.015 4,490 9.778 11.092 43.375 24.802 4,202 24.320 1,950 9.050 14.59S 49,916 2,252 Prepayments 15.475 53,529 879 3,613 10 CREOITORS Unrestricted Funds 202 C¢wnbingd RRCT RRCT2- UUdrt8d VAT 1.290 Deferred inco 22A26 22.391 38.497 21.306 32.287 18.306 8.210 3,0 45.504 61.093 51.883 9,210 11. ANALYSIS OF ASss IN UNRESTRICTEO FUNDS Flxed a55ets Other net as¥ets Totsl 12. STATENEIT OF FU14DS Brought F¢JnvaTd Income Exwlditure Investment Gain5 2024 PBge 22
THE ROGER RAYMOND CHARITABLE TRUST Notes to the financlal statements forthe ear ended 5 A ril 2024 continued 1& FINANCIAL INSTrUMETrirs 2024 2023 Financial assets measured at fawvalue Ihrouth Irn0 and expendrtuye 7P76,B73 7.876.421 Financial assets measured at amortÉsed cost 366 363 Flnan¢éd liablities nw8ured at amortsed cts8t Financial assets measured at fair value through income and exFendibJre comprise investrnents. Finare1 assets measure¢J at anNNth"sed cost CCrnPri8e trade and other debtors. loans reiVatIe. aCcnd income and cash al bank. FinancRI habililies rrEasured at 8mortk8ed cost rJ)mwise trade credrtors and accruaL8. 1& RELATED PARTY TFIANSACTIONS Control In the opinion of ts Tru¥tee¥lhere 1$ no one ultifflate eontrc41ing p8rty. Transacllons During1heyear. The Rr4erRayTrJnd CharitableTrust reiVed diwdends Of£1B,0{2O23. £37,51JOlfmm Roger Raymon(J Investments knmrted. Induded in Amounts 0Ed by Subsidiarios at 5 April 2024 is an of £4¢)),0l21r23.' £50,000) due from RRI Holdings knnmled in respect of a loan made lo Ihe o)mpany at a rate of 1.5% plus 3 month averdge GBP LIBOR. calculaled monthly. This loan ts repayable on request subject to a 3 moE51h minimm notKe period given by thE Trust. Interest reofved on this loan t1uring the year amounted lo £36.38012023: £3.0511. RRI Holdings Limited is 100% sub8idHry of Rouer Raymond Invethents Llmlted. Malcolm Raymorkl Investments Lsmilad was the 100% subsidiary of MRI Holth'ngs Limited. M G RaymoJHI, who is a Trustee ofThe Rr Raymond Chantable Trust, was also a Director of all four CompleS during th8 y8or, and haremder of bDth holding oJmpafiie5. Detsils rekting to Iwslees. remuneralpjn and mbUr8ed 8ypen¥es arè sèt out In note 8. POST BALANCE SMEFf A Trust prop8rty in Oxfonj inejuded in Ihe accounts atlhe value of£1.300.000 has teen gifted to Bloxham School for the $thele use of Iheir Raymond Fund for bursaries. The hjng-lern loan included in the ar£punl$ at th8 value of £318,270. 1¢h was also rnade to Bloxh8m S£*c4, has similarty been forgmven on eondHton that an equivalent financial beneffit is applied to Ihe Same RaYmLd Fund. The comtmned lue 11 be used by the Schol to continue to provide Raymond Scholar8hip$ of the fype fijnded by Ihe Trust Over th8 prewous forty y8ar5, il bw.ng an annual eontributhon fjum Ihe Trust. Poge 23