Charlty number: 264237 THE LORD COZENS-HARDY TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE LORD COZENS-HARDY TRUST CONTENTS Page Refèrence and admlnlstratlve d•talls of the Charltyi Its Trustees and advlsers Truste•8' report Independent examlnerfs report statemont of flnanclal actlvltl68 Balance sheet Notes to tha flnanclal 8tst•m•nt8 7-14
THE LORD COZEN8-HARDY TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trusteeo Mr John Edward Vandeleur Phelps Mrs Llnda Frances Phalps LTCL Mr Justin Jolyon Peter Ripm8n Mr Benjamin Francls Vandeleur Phelps Charlty regl8ter•d number 264237 Reglsterèd 8ddre88 PO Box 28 Holt Norfolk NR25 7WH Accountants MA P8rtner8 LLP Chartered Accountants 7 The Close Norwlch Norfolk NR1 4DJ Ind•p•nd•nt Examlner Laurfe Hlll BA(Hons) BFP ACA Larklng Gowen LLP Prosped House Rouen Road Norwlch Norfolk NR1 1RE Bonkers CAF Bank Llmlled 25 Klngs Hlll Avenue Klngs Hill Wesl Malllng Kent ME19 4TA Sollcltors Mllls & Reeve LLP 1 Sl James Court Whilefriars NOn1¢h Norfolk NR3 1RU Inv•8tmont Managers Ralhbong Brothers & Co Ltd Port of Liverpool Building Pier Head Llverpool L31NW P8ge 1
THE LORD COZENS.HARDY TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report togelherwilh the financi81 ststements of the Charity for the year 6 Aprll 2024 10 5 April 2025. Oblectlves and actlvltles History and constltutlon of the Trust The original settlement established on the 30 March 1966 became the Glaven Charltable Trust by a Deed of Declaration made on the 29 May 1972 and registered with the Charity Commission under reference 264237. On the l December 1980 the assets of the Nimrod Charitable Selllemenl leslablished 19661 were added lo the Glaven Charitable Trust and the Trust was known as the Nimrod and Glaven Charitable Settlement. On the 12 Oclober 1995 8 resolulion was passed to rename the Trust as The Lord Cozens*ardy Trust. b. Alms and Oblectlves The Trusvs objectives are lo support gen&ral charitable purposes with particular emphasis on national and Norfolk charities for medicine, health and welfare by providing gtsnls lo appropriate charities. The Trustees confirm that they have referred lo the guidance contsined in the Charity Commission's general guidan¢e on public benefit when reviewng the Trust's aims and objectives and in planning future activities and selling the grant making policy for the year. c. Achievements and performance of the Trust The assets of the Trust are invested in a portfolS0 of1Ssled Investments which enabled the Trustees to award grants tolalling £98,000 (2024- £99.955) as listed in note 4 to the flnancSal slalem8nts. d. Future devtrlopments The Trustees anlicipale, over the coming year. a level of Income similar lo that received in the year to 5 April 2025. Flnanclal review. Investment pollcy and r8s8rves At the balance sheet dale the Trust's lolal funds amounted to £3.235.531 compared with £3,448. 153 al the end of the previous year. The Trustees regard all of the Trust's fund8 a8 Unrestrted funds. The Trustees, policy is lo invest funds lo maximise the lolal return, capital growth plus income, with a medium level of risk. The income Irorn investments and cash deposits this year was £62,209 (2024- £73.651J, which represents a return of 1.97Y. {2024_ 2.37tsA) on the year end historical Gost. The Investment portfolio has decreased its market value through the year by 5.88¥. (2024- 4.40LA¥ Incr&as8J lo £3.206.534 (2024 - £3,406,81t). Grants are funded by a combination of capital and income from the Trust's portfolio of listed investments. However, the Trustees relain sufficienl reserves in the form of nel current assets to meet one year's anticipated running costs and any emergency granl applicab'ons. At the year end such funds amounted to £28.997 (2024 - £41.342). Page 2
THE LORD COZENS-HARDY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Oblectlves and a¢tlvltles {contlnuedl f. Going concern Taklng Into account the antldpaled level of investment Income for the forthcomlng flnanclal year, the Tiuslees believe that the Charlty Is well plad to continue operational existence for the forseeable future. The Truslees are confident that the Charity can continue to make grants totalling those made in rent years for the foresetsable future from the dale of approval of the financial slalements. g. Main activities undertaken to further the Charity's purposes for the public benefit The Trustees, policy is lo assist charities predominantly in the East of England. and most particularfy Norfolk, or nalional charilies undertaking projects in the region wih particular support for medical and educational causes. The Trustees meet 8nnually to review thi5 policy bul relain Ilexibilily in respect of the liming and scope of grant making. Although no specific formal for application is required the Trustees review all documents and accounts submilled on a quarterly basis. Local and national charities are supported but not individuals. Support is glven annually lo a number of organisalions. h. Management and governance arrangements The Trustees in office during the year are listed on page 1 of this report together with the Charills adminislralive details. The management of the Trust is the responsibility of the Trustees who are appointed and Cothopled under th8 terms of the Trusl deed. The power to appoint new Trustees rests with the current Twslees. The Trustees have unrestricted power of investment and minimise investment risk through the use of professional investment advisers and the mainl8nance of a div8rse investment portfolio. Genoral operating risk Is minimised through regular reviews by the Trustees of the Trust's aclivilies. True and fair overrld• The financlal slalements have been prepared lo glve 8.lrue and fair. Mew and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required lo provide ¥ 'lrue and fair view.. This departure has involved following the Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accoLJnls in accordance wilh the Financial Reporting Standard applicablè in tha UK 8nd Republic of Ireland issuèd in October 2019 rather than the Accounting and Reporting by ChalIes.. Slalemenl of Recommended Pracllce effecllve fiom 1 Aprll 2005 which has since been wllhdrawn. Approved by order of the members of the board of Trustees on 12 January 2026 and signed on their behalf by.. Page 3
THE LORD COZENS-HARDY TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 Independent examlnerfs report to the Trustees of The Lord Cozens-Hardy Trust ('the Charlty'l I report lo the Charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025 which are sel out on pages 5 to 14. Responsibilities and basis of report As the Charitls Trustees you are responsible for the prep8ralion of the accounts in accordancè with the requirements of Ihe Charllies Act 2011 {'Ihe ACVI. I report in respect of my examination of the Chariltys accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examlner'B ststement I have completed my examination. l confirm th81 no matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by Sect)n 130 of the Act.. or the accounts do not accord with those records.. or the accounts do not comply wlh th8 applicable requirements conc8rning the fomi and conlenl of accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fail. view which is not a matter constdered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination lo whi¢h allenlion should be drawn in this report in order to enable a proper understsnding of the accounts lo be reached. Your allenlion is drawn lo the fact the Charity h88 prepared the accounts (financial slalementsl in accordance with Accounting and Reporting by Charities.. St8lemenl of Recommended Practice applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by Charilies.- Slalemenl of Recommended Practice issued on l April 2005 which is referred lo in the exlanl regulations bul has since been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. Signed.. Dated.. 12 January 2026 Laurie Hill BA{Honsl 8FP ACA Larklng Gowen LLP, Chartered Accounlanls, NOlCh Page 4
THE LORD COZENS-HARDY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Unrèstr5etèd funds 2025 Total funds 2025 Total funds 2024 Noto Income from.. Investments 62,209 62.209 73,651 Total Income 82,209 62,209 73,651 Expenditure on- Other raising funds Charitable achvities.. Adminlslralion costs Other charitable acliwlies 17.689 17,689 13,823 10,065 98,000 10.065 98,000 9,623 99.955 Total expenditure 125,754 125,754 123,401 Net movement In funds before galns on Investments 163,545} 63.5451 {49, 750) (Lossesllgains on investments: {L0s5esllgains on revaluation of fixed assets Nel gains on disposed inv8slmenls {159,4971 10,420 {159,4971 10,420 178.418 12,294 Nèt movamant In funds 1212,6221 1212,6221 140,962 Reconclliatlon of funds: Total funds brought forward Nel movement in funds 3,448,153 1212,6221 3,448,153 {212,6221 3,307, 191 140,962 Total funds carrled fonvard 3.235.531 3.235,531 3,448, 153 The Slalemenl of financlal aclivi118s includes all gains and losses recognised in the year. The notes on pages 7 10 14 form part of these financial slalemenls. Page 5
THE LORD COZENS.HARDY TRUST BALANCE SHEET AS AT S APRIL 2025 2025 2024 Notè Flxed assets Investments 3,206,534 3,406,811 Current a$s6ts Cash al bank and In har 45,815 73,095 Current Ilabllltles Creditors.. amounts falllng due wlthin one year (16,818) (31,753) Net currènt assets 28.997 41.342 Total asset8 l•$s curr•nt Ilabllltles 3,235,531 3,448, 153 Total net a8Set8 3,235,531 3,448, 153 Charlty funds Unreslricled funds 3,235,531 3,448,153 Total funds 3,235.531 3,448, 153 The financlal statements we slgned on their behalf by. roved nd 8ulh d for Issue by the Trustees on 12 J8nuary 2026 and The notes on pages 7 10 14 fom part of these fin8n I slalements. Page 6
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting pollcles 1.1 Basis of preparation of financlal statements The fSnancl81 slalemenls have b8en prepared in accordance wilh the Charilles SORP IFRS 1021 Accounting and Reporting by Charities". Stslement of Recommended Practice applicab18 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011. The financial statements have been prepared to give 8 'lru8 and 18iV view and have departed from the Charities {Accounls and Reports) Regulations 2008 only to the exlenl required to provide a 'lrue and fairf view. This departure has involved following the Charities SORP IFRS 1021 published on October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recomménded Pi8cli¢e effective from 1 April 2005 which has since been withdrawn. The Lorij Cozens-Hardy Trust meets the definition of a public benefit enllty under FRS 102. Assets and liabilities are initially recognised al historical cosl or transaction value unless otherwise slated in the relevant accounting policy. 1.2 Going concern The Trustees maintain the majority of the Trust's assets in the form of income generating investments and only make grant awards in line with known investment income and free reserves. Ac¢ordingly the Trustees are able lo ensure Ihe the Trusl can continue as a going concern. The Trustees Ihe¥8fore have prepared these financial slalements on a going concern basis. 1.3 Income All Income is recognised once the Charlty has enlllltsmenl lo the income. il is probable that the income will be receiv8d and the amount of income receivable can be measured reliably. 1.4 Expendlture Expenditure is recognised once Ihele is a legal or conslruclive obligallon lo transfe¥ economic benefit lo a third paty, it is probabfe that 8 transfer of economic benefits will be required in seluemenl and the amount of Ihe obligalion can be measured reliably. Expenditure on raising funds relatss to investment managerfs fees only. Expenditure on charitable activities Is InCurd on directly undertaking the activities whlch further the Charllls objectives, as well as any assLKiated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions 8ttsching are fulfilled. Grants offered subject lo conditions which have not been mel at the year end are noted as a commitment, bul not a¢crued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 7
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles Icontlnued) 1.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity.. this is normally upon nolificalion of the interest paid or payable by the inslilulion with whom the funds are deposited. 1.6 Inva$tmènts Investments are stsled at market value at th8 balance sheet dale. The Slalemenl of Financial Activities includes the nel gains and losses arising on revalual+ons and disposals throughout the year. 1.7 Cash at bank and In hand Cash al bank and in hand Includes cash and short-lerm highly IlquSd Investments with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.8 Llabllitl8s and provislons Liabilities are r8cognised when there is an oblig81ion al the Balance Sheet date as a result of a past event, il is probable that a transfer of economio benefit w511 be r8quir8d in seltlemenl. and the 8mounl of the settlement can be eslimal8d reliably. Llabilill8s are recognised al the amount that the Charity anlicipales il will pay lo sellle the debt or the amount il has recelved as advanced payments for the goods or services it must prowde. 1.9 Fund a¢¢ountlng General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other urposes. Investment income, gains and losses a allocated lo the appropriate fund. Investment Income Unrestrlcted funds 2025 Total funds 2025 Investments listed on a recognised Stock Exchange Interest receivable 57,839 4,370 57,839 4,370 62,209 62,209 Paga 8
THE LORD COZENS41ARDY TRUST NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 5 APRIL 2025 Inv•8tment Income (contlnuedl UnreslriGted funds 2024 Tot81 fvnds 2024 Investrn8nls listed on a recognised Stock Exchange Interest receivable 70,583 3,068 TO,583 3,068 73,651 73.651 Analysls of oxpondStur8 by aGtlvltl88 Grant fundlng of actlvltlos 2025 Support costs Total funds 2025 2025 ActNtles 98.000 10,065 108,065 Grant fundlng ofactlwtles Support costs 2024 2024 Tot81 funds 2024 Activties 99,955 9,623 109,578 Pag8 9
THE LORD COZENS4IARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysls of &xpondltur• by act1v1tl (contlnued) Analys18 of support ¢osts Charltabl• •Gtlvtl•s 2025 Total funds 2025 Independent Examlnels fee8 Legal and professlonal fe88 AccountsnGy fees Bank charges 3,420 3,592 2,976 77 3,420 3,592 2,976 77 10,065 10,065 Charitoble activN8s 2024 Total funds 2024 Independent Examlnefs fees Legal and professional fees Accountancy fees Bank charg6s 3,300 3,420 2,832 71 3,300 3,420 2,832 71 9.623 9,623 P8ge 10
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Analysls of grants made 2025 2024 Age UK Norfolk Blind Veterans UK Blue Cross Braln Tumour Charlty Breast Canr Gampalgn, Norfolk Cancer Research UK IUEA Norfolk) Carers Trust Connects & Co Crisis UK, Norfolk Appeal Deafblind UK East Angllan Air Ambulance East Anglia's Children's Hosplces Eating Maltèrs Equipping Nurturing Young People Get Me Out The Four Walls Glaven District Caring Committee Headway- The Brain Injury Association Hearing Dogs for Deaf People Heritage House Caring Group Hunlinglon's Disease Association Independent Age Inspire Foundation International Spinal Research Trust Langham Church (Langham PCC Fabric Fund) Langham Parlsh Council Liverpool School of Troplcal Medicin& Norfolk Accident Rescue Service Norfolk Deaf Association Norfolk Guide Association North Lynn Melhodisl Church (The Beacon) North Norfolk Community Transport People's Dlspensary for Sick Anlmals Priscilla Bacon Hosp¢ce Bereavemenl Prisoner's Education Trust Prostale Cancer UK Read for Good Royal National Inslilule for Deaf People Royal National Lif8boal Inslilulion 1.000 1.000 1,000 2.000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 5.955 1.000 1,000 1.000 1,000 1,000 1,000 1,000 1.000 1.000 1.000 s,000 3,000 1,000 1,000 1,000 1,000 1,000 1.000 5,000 20,OQO 1,000 5.000 1,000 1,000 5.000 1,000 1,000 1,000 20.000 1,000 1,000 1,000 1.000 1.000 1,000 1,000 3,000 1,000 5,000 5.000 1.000 s.000 1,000 1,000 t,000 5.000 5,000 1,000 f.000 Page11
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Safvalion Army UK Samaritans, Nonlch Sense Shellor The Almhouso Association The GuSde Dogs for the Bllnd Assoclalion The Migralne Trust The Klng's Trust UEA Tiger Test Vlsion Norfolk Grants less than £1.000 1,000 1,000 5,000 1,000 2,000 2,000 1,000 1,000 5.000 1,000 7,000 2,000 1,000 1,000 1,000 7,000 98,000 99,955 Trusto•s' remun•ration and 8xpons•* Oun9 the year, no Trustees received any remuneration or other benefits (2024- £NIL). Durlng th8 yaar ended 5 Aprfl 2025, no Trustee expenses havè been Incurred {2024- £NIL). Page 12
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Flx•d ass•t Investments Llsted 8ecurltl•8 Cash on d•poslt Total Cost At 6 April 2024 Additions I Cash movement DIspo8aL8 3.078.276 1,007.243 (980,6861 35,738 21.843 3,114,012 1,029,086 1980,5861 At 5 April 2025 3,104.933 57,579 3,162,512 Revaluatlon At 6 Aprtl 2024 Revaluatlon al th8 year end Reallsed on dlsposals 292,799 1159.4971 (89,2801 292.799 1159,4971 {89.2801 At 5 April 2025 44,022 44,022 Market value At S April 2025 3,148,955 57,579 3,206,534 At 5 Apn'l 2024 3,37t,075 35.736 3,406,811 The following Investments represent more than 6% of the portfolio market velue :. 2025 2024 Materlal Invgstmgnts market valu68 4.100 Ishares PIC 1e3,313 Page 13
THE LORD COZENS-HARDY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Credllors: Amounts falllng due wlthln one year 2025 2024 Accountancy fees Leg81 fees Investment Man8geVs fees Independent Examiner's fees Grants payable 2,976 3.592 6,830 3,420 5,532 3,420 3,546 3,300 15,955 16,818 33,753 Summaryof funds Summary of funds- Current yaar Balancè at 8 Aprll 2024 Galnsl Balance at 5 {Lossosl Aprll 202S Income Expendlture General funds 3,448,153 62,209 {125,754) (149,0771 3.235,531 Summary of funds- prforyear Balance al 6 April 2023 Gains/ {Loss8s) Balance al 5 April 2024 Income Expenditure General funds 3,307, 191 73,651 (123.401) 190,712 3,448. 153 Related party transactlons The Trust incurred legal fees of£3,592 (2024- £3.420) lo Mills & Reeve LLP. a firm in which Mr Justin Jolyon Peter Ripman. a Iruslee. was a partner and is now an employed consultant. Al the end of the year £3,592 was owing to Mills & Reeve LLP (2024 - £3,420J. This amount Is included wlhin creditors in nolo 7 to the financial sialements. Page 14