THE FAMILY RICH CHARITIES TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Charity Registration No. 264192
THE FAMILY RICH CHARITIES TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Tessa Goldsteln Mrs Margaret Fruchter Mr Slmon Fruchter Charlty number 264192 Principal addre55 6 Forge Lane Petersham Road Richmond Upon Thames TWIO 7BF Independent examlner RSM UK Tax and Accountin8 Limited Davidson House Forbury Square Reading Bekshire RGI 3EU Key advlsors: A Vacha LGT Vestra LLP 14 Cornhill London EC3V 3NR The Co-operative Bank p.l.c l Balloon Street Manchester M4 48E
THE FAMILY RICH CHARITIES TRUST CONTENTS Pase Trustees, report Independent examlner's report Statement of financial activities Balance sheet Notes to the financlal statements 6-13
THE FAMILY RICH CHARITIES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their report and financial statemer¢t5 for the year ended 5 Aprll 2025. The attouhts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the Trust Deed, the Charities Act 2011 and "Accountlng and Reportlng by the Charities: Statement of Recommended Practice applicable to charltles preparlng their accounts in accordance with the Financial Reporting standard app15cable In the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 20191. Oblectlves and artivities The trust exists to provide charltable donations to a wide and varled selection of charities In accordance wSth the Trust Deed. Each year donations are made to charitable or8anisations and institutions engaged In medical research and care, arts and mu51C therapies and social welfare and care In developlng countrles. The Trustee5 have paid due regard to guldance Issued by the Charlty Commlsslon in decldlng what activities The Trust should undertake. The Trustees have the power to make grants and donatlons to any charitable organls)tlon or In5tltute In accordance wlth the trust deed dated March 1972. Achlevements and performance During the year The Trust made 24 separate donatlons to charitable organisations and institutes totallln8 £66,500 in accordance with its charitable objectives. The total Investment Income of The Trust was £87,586 from which management costs, Incurred on generatin8 funds, of £8,808 were deducted, Flnanclal Revlew The Trust distributes the whole of the annual investment income, including any tax refunds thereon but after deducting management and administration expenses. In the year to 5 April 2025, the trust made payments of £66,500 relatlng to charitable a¢tivities, and generated investment income of £75,996 net of costs in the year. This combined with the independent examiner fees resulted in a balance of £1,906,338 on unrestricted reserves. The investment policy of The Trust is to invest in a company portfolio offering risk diiersification.
THE FAMILY RICH CHARITIES TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 The Trustees have assessed the major rlsks to which The Trust15 exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The charity receives an annual donation, from Thames Property Group Ltd, that is guaranteed to contlnue for the foreseeable future. Reserves Policy The Trustees believe that the charlty should hold financial reserves to ensure the stability of the core activities and to protect agalnst the rlsk of unforeseen fluctuations in income or expendlture. They feel the cash reserves of £27,198 are sufficient to meet ongoing requlrements. The Trustee5 will continue to monitor and revlew th15 level to make sure it 15 adequate golng forward. structure, governance and management The Trust 15 an unincorporated charlty registered on 23 June 1972. The Trust wa5 established under the Trust Deed dated 30, March 1972. The Trustees who served durln8 the year and up to the date of signature of the flnanclal statements were.. Mrs Tessa Goldsteln Mr5 Margaret Fruchter Mr Simon Fruchter Recrultment of the TrustÈes is carried out through nomlnation or recommendatlon by the current Trustees. The Trustee's report wa5 approved by the Board of Trustees. Mr Simon Fruchter Trustee Dated,. Iy,..o..1.,.2.016.
THE FAMILY RICH CHARITIES TRUST NDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 I report to the Trustees on my examination of the accounts of The Family Rich Charities Trust I'the charity'l for the year ended 5 April 2025, which are set out on pages 4 to 13. Re5POll51bllltles and basss of report As the Trustees of the charSty you are responsible for the preparation of the accounts In accordance wlth the requlrements of the Charltles Act 20111'the 2011 Act'l. I report in respect of my examination of the charity's a¢count5 carrled out under sectlon 145 of the 2011 Act and in carrying Out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. An Independent examlnatlon does not Involve gathering all the evidence that would be Tequired in an audit and conseqsjently does not cover all the matters that an audltor conslders In glvlng thelr oplnlon on the accounts. The plannlng and conduct of an audlt goes beyond the Ilmited assurance that an Independent examlnatlon can provlde. Consequently, l express no opinion as to whether the accounts present a 'true and fair vlew, and my report Is limited to those spe¢lfi¢ matters set out In the Independent examlnerfs statement. Independent examlner's ststement I have completed my examination, I confirm that no material matters have come to my attentlon In connection with the examlnation glving me reasonable cause to believe that In any materlal respect,. accountlng records were not kept in respect of the charity a5 required by sectlon 130 of the 2011 Act,. or 2. the accounts do not accord wlth those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of a¢¢ounts set out in the Charltles (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts glve a 'true and falr view, which is not a matter consldered as part of an independent examination, I have no concerns and have come across no other matters In connection wlth the examination to which attention should be (Jrawn in thls report in order to enable a proper understanding of the accounts to be reached. Signed: Date: Kerry Gallaghgr Kerry Gallagher FCA DChA The Institute of Chartered Accountant5 in England and Wales ON BEHALF OF RSM UKTAX AND ACCOUNTING LIMITED Chartered Accountants Davidson House Forbury Square Reading RGI 3EU 29101126
THE FAMILY RICH CHARITIES TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Total 2025 Total 2024 Notes Income from: Donations and legacies Investments Total in¢ome 50,000 87,586 137,586 50,000 83,749 133,749 Ex endlture on: Ralslng funés Charitable activitles Administrative expense5 Total resources expended 11,590 66,500 4,320 82,410 12,243 80,000 4,200 96,443 617 618 Net {resources expendedlllncomlng resources before net galns on Investment5 55,176 37,306 Net galns on Investment5 Net movement In funds li 26,085 54,557 81,261 91,863 Fund balances at 6 Aprll 2023124 Fund balances at 5 Aprll 2024125 1,825,077 1,906,338 1,733,214 1,825,077 The statement of flnanclal actlvltles Includes all galns and losses recognlsed In the year. All Income and expendlture derlve from contlnuSng actlvltles.
THE FAMILY RICH CHARITIES TRUST Charity Registratlon Number: 264192 BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025 Notes 2025 2024 Fixed assets Investments Current assets Investments Cash at bank and in hand 12114 1,795,460 1,688,550 13114 88,000 27,198 115,198 116,000 24,727 140,727 Current Ilabllltles Accruals 14,3201 14,3201 14,2001 14,2001 Net current assets Total assets less current Ilabilities 110,878 136,527 1,906,338 1,825,077 Income funds Unre5trlcted funds 15 1,906,338 1,825,077 1,906,338 1,825,077 The financial statements were approved by the Tru5tee5 Qn , z..?.,.. O / , zc)26 Mr Slmon Fruchter Trustee
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 AccountSng pollcle5 Charlty Informatlon The Family Rich Charities Trustls a registered charlty, number 264192, and is constituted by Deed of Trust. 1.1 Accountlng conventlon The account5 have been prepared In accordance wlth The Trust deed, the Charities Act 2011 and "Accounting and Reportlng by Charltles: Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance wlth the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland IFRS1021' las amendÈd for attounting pÈrlods commencing from l January 20191. The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charlties applylng FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The account5 are prepared In sterlln8, whlch Is the functional currency of The Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financSal statements have been prepared under historical cost conventSon, modifSed to Include certaln flnanclal Instruments at falr value. The princlpal accountln8 pollcles adopted are Set out below, The financial statements have been prepared to give a 'true and faSr' vlew and have departed from the Charltles (Accounts and Report51 Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has Involved followlng Accounting and Reportlng by CharSties preparin8 their financial statements In accordance wlth the Financial Reporting standard applicable In the UK and Republic of Ireland IFRS 1021 issued in October 2019 rather than the Accountlng and Reportlng by Charities.. Statement of Recommended Practlce effective from l Aprll 2005 whlch has since been withdrawn. Going concern Taking into account the economic condltions and posslble changes In trading performance, the Trustees have a reasonable expectatlon that the charity has adequate resources to continue In operatlonal existence for at least twelve months from the date of the signing the financial statements. The charity therefore continues to adopt the going concern basis in preparing the financial statements. The Trustees have a reasonable expectation that the charity will have sufficient fund5 to continue to meet its liabilities as they fall due for at least twelve month5 from the date of signing the financial statements and therefore have prepared the financial statements on a going concern ba515.
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDEO 5 APRIL 2025 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objective5 unle55 the fund5 have been desi8nated for other purposes. Incomin8 resources Income is recognised when The Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are reco8nlsed on recelpt. Other donatlons are recognised once The Trust has been notlfled of the donatlon, unle55 performance condltions requlre deferral of the amount Income tax recoverable in relatlon to donatlons received under Gift Ald or deed of covenant is recognised at the time of the donation. Turnover Is measured at the falr value of the conslderatlon recelved or receivable and represents amounts recelvable for goods and servlces provlded In the normal course of business, net of d5scounts, VAT and other sales related taxes. Resources expended Liablllties are recognlsed as expenditure as soon as there is a legal or constructlve obligation ¢ommittln8 the charlty to that expenditure, it is probable that settlement wlll be requlred, and the amount of the obllgatlon can be measured reliably, All expenditurels accounted for on an accruals basls. All expenses Including sUPPOrt costs and governance cost5 are allocated or apportioned to the appllcable expenditure headlngs, Flxed asset Investments Flxed asset Investments are initially measured at transaction price excluding transactiorn costs and are subsequently measured at fair value at each reporting date. Changes in falr value are recognlsed In the Statement of Financial Activities. Transactlon costs are expensed as Incurred. Current asset Investment Current Investments are inltially measured at transaction price excludlng transaction costs and reported on the balance sheet at their market value. These investments are considered short-term assets because they are generally convertible into cash within one year. Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term Ilquld Investment5 Wlth original maturities of three month5 or less.
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Flnanclal Instruments The Trust has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all its financial instruments. Financial instrument5 are recogni5ed in the Trust's balance sheet when the Trust becomes party to the contractual provision of the instrument. Flnanclal assets and Ilabillties are offset, with the net amounts presented In the fln3ncial 5tatement5, when there is a legally enforceable right to set off the recognised amounts and there Is an Intention to settle on a net basls or to realise the asset and settle the Ilablllty simultaneously. Ba5icfinanclal 05sets Basic financial assets, which include debtors and cash and bank balances, are Initially measured at transaction prlce Includln8 transactlon costs and are subsequently carrled at amortised cost using the effective interest method. Where the tran5actlon Is measured at the present volue of the future receipts dlscounted at a market rate of Interest. Flnanclal assets ¢la551fled a5 receivable withln one year are not amortised. BoslcAlnan¢lol Ilabllltles Baslc financial Ilabilitles, including creditors and bank loans are Inltlally recognlsed at tran5actlon prlce unless the arrangement constltutes a flnancial transaction, where the debt Instrumentls measured at the present value of the future payments discounted at a market rate of interest. Financial Ilabilitles ¢la55ified as payable wlthln one year are not amortised. Debt Instruments are subsequently carried at amortised cost, usln8 the effectlve Interest rate method. DecognitIon oAAinanclul Ilabllltles Flnan¢ial liabilities are derecognlsed when The Trust's contractual obligations expire or are dlscharged or cancelled.
THE FAMILY RICH CHARITIES TRUST NOTES TC THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE IEAR ENDED 5 APRIL 2025 2 Crltlcal accountlng estSmates and judgements In the appllcation of The Trusvs accounting policies, the Trustees are required to make judgeThents, estimates arbd assumptions about the carrying amount of assets and li8bllities that are not readily appzrent from other sources. The estimates and a550ciated assumptions are based on hirtorical experience and other factors that are considered to be relevant. Actual results may differ from these e5timate5. The T-ustees do not conslder that there are any critical estimates or areas of judgment that need to be brought to the attention of the reader5 of the financial statements. The estlmates and underlyln8 assumptions are revlewed on an ongoing basis. Revisions to accoLmting estlmates are recognlsed in the period in which the estimate is revised where the revision affects only that period or In the period of the revision and future periods where the revision affetts both current and future perlods. 3 Donatlons and le8acles 2025 2024 Donatlons and 8lfts 50,000 50,000 4 Investment5 2025 2024 Income from Ilsted Investments Interest i ecelvable 87,576 io 83,634 115 87,586 83,749 5 Raising tunds Tot31 2025 Total 2024 Investment management 11,590 11,590 12,243 12,243
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 6 Charltable actl¥ltles 2025 2024 Grant funding of activitie51see note 71 Share of 8overnance costs (see note 81 66,500 4,320 70,820 80,000 4,200 84,200 7 Grants payable 2025 2024 Grants to Instltutlons 66,500 66,500 80,000 80,000 The Trust exlsts to provide charltable donatlons to a wide and varled selectlon of charities In accordance with the Trust Deed. Each year donatlons are made to charitable or8anisatlons and institutions en8a8ed in medlcal research and care, arts and muslc therapies and social welfare and care In developin8 countrle5. Charlty Actlon Medlcal Research for Children Alzheimei's Societ Asthma and Lun UK Bllnd Veteran5 UK Blood Cancer ihK 8owel Cancer UK Brain Research UK Brit15h Heart Foundation Centrepoint Concern Worldwlde Crisls Crohn's and Colit55 Cure Parkinsons Great Ormond Street Hospital Charit Kidney Research UK Leukaemla and Myeloma Research MNDA Pancreatic Cancer Princess Alice Hospice Prostate Cancer UK Royal Berks Charity Sarcoma UK WaterAid 2025 £ 2,000 2,500 2,000 3,000 3,000 2,000 5,000 5,000 4,000 2,000 2,000 2,000 2,000 2,000 3,000 5,000 2,500 2,000 3,000 3,000 2,500 5,000 2,000 Charity Action for Medlcal Research for Children AMREF Health Africa Asthma & Lung UK Bowel Research UK British Heart Foundatlon Crlsis Dementla UK Farm Africa Gulde Dogs for the Blind Imperial Health Charity Leukaemia UK London Air Ambulance Maggies Medeclns Sans Frontieres MS Society Oscars Brain Tumour Charity Ovarian Cancer Attion Pancreatic Cancer UK Princess Alice Hospice Prostate Cancer Research Royal Brompton & Harefield Hospita15 Royal Marsden Hospital Scan Appeal 2024 £ 2,000 2,000 2,000 3,000 2,000 1,500 2,000 2,000 1,000 10,000 2,000 5,000 1,000 2,000 2,000 1,500 2,000 2,000 2,000 2,000 5,000 3,000 2,000 io-
THE FAMILY RICH CHARITIES TRUST NOTESTO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED S APRIL 2025 Sight Research UK Stroke Association The Brain Tumour Charity The Respite Association The Trussell Trust The University of Liverpool Water Aid Woodland Trust Total 1,000 2,000 3,000 3,000 4,000 4,000 2,000 2,000 80,000 Total 66,500 8 Support and governance ¢osts Support costs Governance C05t5 2025 2024 Independent examiner's fees Admlnlstration 4,320 4,320 4,200 25 4,320 4,320 4,225 Analysed between Charitable activitie5 4,320 4,320 4,225 Governance costs includes payments to the Independent examlners of £4,32012024.' £4,200) for Independent examinatlon fees. 9 Trustees None of the Trustees lor any persons connected wlth them) received any remuneratlon or benefits from The Trust during the year12024: none). 10 Employees There were no employees durin8 the year. Admlnistrative time is provided by Richfield Properties Limited, the amount has not been quantified and no amount has been recognised in the financial statements. -li-
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THEYEAR ENDED 5 APRIL 2025 11 Net gainslllosses) on investments 2025 2024 Revaluation of investments Gainll105sI on sale of Investments 9,413 16,672 26,085 51,599 2,958 54,557 12 Fixèd asset investments L15ted Investments Cost or Valuatlon As at 5 April 2024 Additlons Valuations changes Disposals At 5 Aprll 2025 1,688,550 263,540 26,085 1182,7151 1,795,460 Carrylng amount At 5 Aprll 2025 1,795,460 At 5 Aprll 2024 1,688,550 Flxed asset Investments revalued Investments are held at fair value whlch Is determined by the quoted price In an active market. If investments were held under the hlstorical cost basis, they would have a carrylng amount as at the balance sheet date of £1,761,08312024'. £1,643,123). 13 Current a55et Investments 2025 2024 Unlisted investments 88,000 116,000 The current asset investments 2025 are made up as follows: £36,500 short-term sterling Prime 3 NAV, Federated Hermes UK LLP. £51.500 short-term sterling Blackrock ICS During the year 73,1)00 units12024: 348,000 Units) were sold for£73,00012024.' £348,000) and 45.000 units12024: 184,0001 were bought for £45,00012024.' £184,000). -12-
THE FAMILY RICH CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 14 Financial Instruments 2025 2024 Carrylng amount of flnancial assets Equity instruments measured at fair value 1,889,460 1,804,550 Financial assets consist of fixed asset investment5 of £1,79S,46012024: £1,688,550). Current asset investment in 2025 £88,00012024: £116,000). 15 Funds Balznct at 6 Apr51 2024 Incomlng resources Resourc¢$ expended R•v4lu•tlons galns and losses Balance at 5 Aprll 2025 restated Investment funds 1.825,077 137,586 82,410 26.035 1,906,338 16 Related party tran5actlons In the year to S, April 2025 a donatlon of £50,000 was made by Thames Property Group Limited 12024.. £50,000). Thames Property Group Limited is ultlmately owned by the Trustees of the charity, 13-