Charity règistration number 267192 {England and Wales) THE RHODODENDRON TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE RHODODENDRON TRUST LEGALAND ADMINISTRATIVE INFORMATION Trust99¥ Mrs WAndewn MsSRay Ms E 8aldwn Ms S OINer Charity number 267192 Rg918torgd offl¢g 6 Bridge Strtret RhM0nd DL10 4RW Ind•p•nd•nt •xamln•r PM+M Solutions for Business LLP New Century House Greenbank Technokngy Park Challenge Blackbum Lan¢a$hire BB150B 8ankerB National sIminle1 Bank plc 28 Bank Streèt Rawien5ts11 BB4 8TS Portfollo managers Raymond James Inveslment Seryices 1 King lliaM Street London EC4N 7AF
THE RHODODENDRON TRUST CONTENTS Page TrustÈes' report Independent examiners report Statement ol financial activities Balance sheet Notes to the financial statements 8-10
THE RHODODENDRON TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees present Iheir annual report and financial statements for Ihe year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policjes set out in note 1 to the financial statements and compty with the Charities Act 2011 and "Accounting and Reporting by Char.e$.. Statement of Reoommended Pradice applicable to tharities preparing Iheir accounts in 8ccord8nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" 18$ 8mended ft)I accounting periods commencsng from 1 January 20161. Objectlves and actlvltles The trust funds are held by the Iruslees on wide discretionary powers for such ch8ritsble purposes as the tiustees may select. It Is currentty the policy of the trustees that the trust's donations should be divided a$ follows". Ill approximately 50tsk of the donations are made to chaiities whose work is primarily overseas", lill approximately 400A are lor UK social welfare charilies", liiil approximate 10% are for UK cultural charrties. The trustees have reviewed the outcomes and Ihe achievements of Ihe actNrties for the year to ensure that they remain focused on the charitable aims and continue lo deliver beneffts to the publio We have complEd with the duty under the Charibes Act to h8ve due regard to the public benefit guidance published by the Charity Commission. The tru$t¥e$ have pgid due wara to gUIdan l$$u¢a by the Charity Comml$slon in de¢lJlng what a¢tivlli¥$ tho hOrY should und•rtake. Achl•vem•nt8 and perfomiance Del8il$ of th* in¢omo and &xp&nJitufe during Ihtr year and the balanc¢ sheet a15 April 2025 aro s¥1 out on paga$ 4and5. The trust has conbnued to support overseas tharities, UK thartties that promote social welfare at)J UK cultural charrties. Flnanclal revlew Dudng the year. the trust's charitable disln"butions and expenses exceeded Income by £10,69512024 - £4,340). The trustees have made donations to various charities tolalling £75,LM)O this year12024- £70,500). During the year. sales of quoted inveslments have alised a loss of £31,822 12024 - Nill and at the year end there was an unrealised cumulative gain of £1.579.18912024- £1.625.6521. 11 is the policy of the Charity th81 unStrided ftjnds which have not been designated for 8 $pe¢ffi¢ use Should be m8lnt8ined at 8 sirnilar level to the value of fixed a$sel inve$tments. At th¥ ieporting dat& fixed 8$sel investments were valued at £2,756,94912024 - £2.786,7141. The trustees consider that reserves at this level wll ensure that suiftcient income is received to enable the charty to continue it's current activities. This level of reserves has been rnaintsined (hroughou( the year. The Iruslees anticipate being able lo maintain or modernlety increase the level of donations in the year ahead. structurè, yovèrnaneè and manay•rnènt The trust was established for charitable purposes on 26 January 1974 and is ented in the Central Register of Charities under registration number 267192. The trustees who 5erveil during the year and up to the dale of signalure of Ihe finanryal 5t8tements were.. Mrs W Anderson MsSRay Ms E Baldwn Ms S OINer The responsibilty to appoint new trustees is held by the existing trustees.
THE RHODODENDRON TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 The tiusteès consider that all the major stiategic, business and operational risks lo which the charity is èxposed, as identffjed by the trustees, have been reviewed and procedures have been put in place to mitigate those risks. The trust's investment policy is to achieve a balan befvn capital groth and rising income, over the medium to long temi. Don8tions are made frorn the 8nnual incorne of the trust. after careful consideration by the tnJStees of application5 rÈceiv8d throughout the y8ar. The trustees regularty consult with their finanual and stockbroking advisers, Raymond James, before any changes are made to the investment portfolio. Grant policy and organi8ation 8tructure All charitable expenditure is regularty reviewed and approved by the truste&$. The lunds arè fulty commrtted throughout 2025. Statemont of truste•$' rnsponslbllW•s The Iruslees are responsible for preparing the Twslee$' Report and the fin8n¢i81 $18lemenls In ac£ordance with applicable law 8nd United Kingdom Accounting Standards Iunrted Kingdom Generalty Accepted AceountSng Prgctl¢81. The law applicable lo charities in England and Wales requires the Iruslees to prepare financial ststemenls for each financial year which give a Irue and fair view of the state of affairs of the charity and ol the incoming resources and application of resources of the charity lor that year. In prep?n9 these finan¢lal slal*ments, the Iw$l&o$ are required lo.. select suitable accounting policies and then appty them conslst8nity; - observe the methods and principles in the Charities SORP.. make judgements and estimates th8t are re8son8ble and prudent.. stat8 wh8ther applicablè accounting standards hav6 beèn followed. $ubje¢t to any malgri01 ¢J&partur8$ disclosed and explained In the finanual statemenls", and prepare the financial ststements on the going conrn basis unless it is inappropriate to presu£ that the charrty will continue in operation. The Iruslees are responsible for keeping sufficient accounbng records thal ¢Jisclose with reasonable accuracy al any lirne the financi81 posf¢K)n ol the chanty and enable Ihem to ensiire th8t the financi81 st8tements comply with the Charities Act 2011 and the Charrty (Acctsunts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the chanty and hence for taking reasonable steps for thè prevention and detectitsn of fraud and other irregularrties. The trustees, report was approved by the Board ol Trusiees. Mrs WAnderson Trustee Dated.. 27 January 2026
THE RHODODENDRON TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RHODODENDRON TRUST I report to the trustees on my examination of the finanaal slalements of The Rhododendron Trust (the chartyl lor the year ended S April 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for Ihe preparalion of the finanual statements in accordance wrth the requirements of the Charities Acl 2011. I report in respect ol my examination of Ihe charity's financial slalements camed out under section 145 ol the Charities Act 2011. In carrying out my examinabon I have followed the Directions given by the Charty Commission under section 14515llbl of the CharitiesAcl 2011. Ind•pèndènt •xamIn•S stat•mtnt Your attention is drawn to the fact that the chanty has prepared Ihe financial statements in accordance with the relevant version of the Statement of Recommended Practice appluble to charities preparing their financial $18lemenls in ac¢ordance with Ihe Financial Reporting Sland8rd applioble in the UK and Republic of Irel8nd IFRS 1021 in prèferencè to IhÈ A¢¢ounting and Reptsrtin9 by Charrties. Slatèmènt of Rècommended Practicè issu8d on 1 April 2005 which Is referred to in the &xtant règulab.ons but ha$ now beèn wrthdrawn. l undèrst8nd that this has been done in order for the financial statements to Pfovide a true and lair view in accordance with UK Generalty Accepted Accounling Practice. I have completed my examination. I confirm that no matters have come to my attentn in rKJnnection wth the examination giving me cause lo believe that in any material respecl.. accounting records were not kept in spect of Ihe charity as requifed by section 130 of the Charities Act 2011. the financial $18lemenls do nol 8¢cord with those reId$- or the financial statements do not compty wlh the applicable requ1Ments conceming the fom and content ol financial statements set oul in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the finanrial statements give a true and fair view. which is not a matter considered as part ol an independent examinatyon. I have no ¢on¢ems and hav& come a¢r¢)ss no other matt&rs in nn¢tIOn wth the ex8mination lo whi¢h attention should be drawn In this report in order to enable a proper understanding of Ihe financial statements to be reached. Dean Rodgers ACA PM+M Solulions for Bu8iness LLP New Century House Greenbank Technology Park Challenge W8y Blackburn Lancashire BB1 5QB Dated.. 27 J8nu8ry 2026
THE RHODODENDRON TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025 Unre¥tricted Unre¥tri¢ted funds funds 2025 2024 Notes Donations and legacies Investments Interest receivable 10.000 78.004 520 6.500 78,998 488 Total Income 88.524 85.986 Charitable activities 75.000 70,500 Governance costs 24.219 19.826 Total resources expended 99,219 90.326 Nel gainslllossesl on investments 178.6301 121,633 N•t mov•m8nt In lund8 189.3251 117,293 Fund balances at 6 April 2024 2,908.968 2,791,675 Fund balanc08 at S Aprtl 202S 2,819.643 2,908,968 The statem8nt ol financial 8ctsvths indudès 8119ain$ and losse$ rewnised In the year. AJI Incoma and expenditure derive from continuing activities.
THE RHODODENDRON TRUST BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Notes Flx•d assèts Investrnenis 11 2.756.949 2.786.714 Curr8nl 385et8 Cash at bank and in hand 126.734 191,254 Creditorn.. amounts falling due within on¥ year 12 164.0401 (69,0001 Net Current assets 62.694 122,254 Toto1418•t$1•88 ¢urr•nt Ilabllltb•s 2.819.643 2,908.968 Income fund• Unrestricted funds 2,819,643 2,908,968 2.819,643 2,908.968 The flngn¢io1 statoments were approved by Tw$le&$ on 27 January 2026 Mrs WAnderson Tru•t••
THE RHODODENDRON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles Charlty Infomiatlon The Rhododendron Trust is an unincorporated asso(iation yovemed by a Trust Deed dated 26th January 1974. 1.1 Basls of preparatlon The financial statemènts havè bÈen prèparèd in aceA)rdancÈ with thè tharity's govèming documènt, thè Charities Act 2011 and "Accountin9 and Repo"n9 by Charities." Statement ol Recommende¢J Practice applicable to charities prepanng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefft Entty as deffined by FRS 102. The charity has taken 8dvantsge of the provisions in the SORP for chanbes apptying FRS 102 UpdaÈ Bulletin 1 not lo prepare 8 Statement of Cash Flows. The financial stat8ments have dèparted from the Chanlies (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and lair view. This departure has Involved following the Statement of Recommended Practice for charrties apptying FRS 102 rather than the version ol the Statement of Recommended Practice which is relerred to in the Regulations but which has since been wrthdrawn. The financial slaternenls 8Te prepared in sterling. wthich is Ihe fijnctional currency of the charity. Monetary amounts in these finanri81 slalemenls are rounded to Ihe nearest £. Th¥ Ilnan¢ial slal&menls have been ppa under the historical Cost ¢onv¢ntion, modified to in¢ludo ¢&rt8in flnan¢i81 instrument$ 81 lair valu&. The prinopal a¢¢ounting poli¢ie$ adopted are Set out below. 1.2 Golng con¢•rn At the lime of approving the finan¢i81 statements. Ihe trustees have a reasonable expe¢¢alion that thts charrty has 8dequ81e resources lo continue in operatsonal exi$l&nce for lh& forestreable fvlure. Thus the Irwlees continue to adopt the going concem basis ol accounting in preparing the finanaal statements. 1.3 Choriioble funds Unrestricted funds a available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Income Incorne is recognised when the charity is legalty entided lo il after any performance conditions have been mel, th& arnounl$ can btr measured reliabty, and it is probable Ihal income wll be received. Cash donations are recognised on receipt. Olher donaiions are recognised once the charity has been notified of the donation. unless performance condilions require delerral of the amount. Income tax recoverable in relation to donations received under Grft Aid or dee(Js of covenant is iecognised at Ihe time of the donation. Dwidends are onty acryjunted for when received. Interest receivable is accounted for on a receipts basis. 1.5 Expendlture Donations are accourrted for vthen approved ftTrr payrnent by the Truslee5. Expenditure T5 accounted for on an cruals basi5 and is clas5ffied under headings that aggiegate all costs related thereto. Ch81itable expenditure comprises V)ose costs incurred by the chanty in the delrvery of rts activth.es and senrices for its benefiaaries. It indudes both costs that can be allocated ¢JIreCt to such activities and those costs of an indirect nature Thssary to support them. Govemance costs comprise investment management, accountancy and professional fees.
THE RHODODENDRON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies IContinue(11 1.6 Flx•d assèt Invèstmènts Fixed asset investments are initialty measured at transaction price exduding transaction costs. and are subsequentty measured 81 fair value at each reporbng date. Ch8nges in tsii value are recogni5ed in nel incornellexp8nditurel for the year. Transaclion ¢x>sts are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposrts held at call with banks, other short-tem liquid investments with original matunt*s ol three nv)nthg 01 less. and bank o¥eidiafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial ass•ts Basic finanoal assets, which indude debtors and cash and bank balances, are initially measured at transaction price including Iransaclion costs and are subsequentty carried al amortised cost using the effective interest method unless the arrangement conslrtutes a financing Iransaclion. where the transaction is measured at the present value ol the future receipts discounted at a market rate of interest. Financial assets classified as ceNable within one year are not amortised. 84¥$1c fln8ncl•l 118bllltle¥ Basic financial liabilities. including creditors are initialty recognised at tr8ns8Ction price unless the arrangernenl constitutes a financing transaction. where Ihe debt instrurnent is measured al the present value of the future paymenls discounted at a market rate of intest. Finanaal liabilities classrfied as payable within one year are nol amorb'sed. Debt In$lrumenls are Subseouenlty Carried al amortised ¢osl, using lh& &ff&¢ti¥& inl$resl ral¥ method. D•r•eognltlon of fln•ncl•l Il•bllld•s Financial liabilities are derecognised when the ¢harity's C4Mtr#¢8I obligations expire or are dis¢h8rgèd or ¢8ncelled. Incom• from donatlon8 and l•gael•8 Unrnst¢ted fund¥ 2025 Unrèstrfcte funds 2024 Donations and grfts 10.000 6,500
THE RHODODENDRON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Investh)ents Unrestrlcted Unrestrlcted funds funds 2025 2024 Incomè from UK invè$tmènt$ Gr055 interest from UK companies and govemment stocks Net overseas dividends 41.198 2,940 33,866 50,319 4,470 24,209 78,004 78,998 Int¢r•$t r•¢•lvobl• Unre•trlctèd Unrè8trleta fund¥ funds 2025 2024 Bank interest re1Ve 520 488 Charltabl8 actlvltles 2025 2024 Donations 75,000 70,500 Tru8t••8 None of the trustees lor any persons connected wilh them) received any remuneration or beneffts from the charity dursng the year. Employees The average monthty number of emt4oyee3 during the year was.. 2025 Numbèr 2024 Number Total Th8fe W81e no employÈ8s whos8 annual r8mun8ration was more than £60,000.
THE RHODODENDRON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Governance costs Unrestrlcted Unrestrlcted funds funds 2025 2024 Independent examiner f Accountancy fee5 Stockbroker fees other expenditure 6.142 5,290 12,537 250 5,242 2,450 12,134 24,219 19,826 Net g4ln$1llo$$I on In¥•$tm*nt• Unr••trlctèd Unrè8trlet8d fundj fund8 2025 2024 Revaluation of investments Gainlllossl on sale of investments 146,8081 131,8221 121,633 178,6301 121,833 10 Taxatlon The charty is exempt from taxalion on its actNrties because all rts income Is 8pplied for charitable purposes. 11 Flxed asset Invostments Ll•t8 Inv•stm•nts Cost or valuatlon At 6 April 2024 Additions Valuation changes Disposals 2,786,714 178,8S2 146,8081 1161,8091 At 5 April 2025 2,756,949 CaTryin9 amount At 05 April 2025 2,756,949 At 05 April 2024 2.786,714
THE RHODODENDRON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 12 Credltors: amounts falllng due wlthln one year 2025 2024 Other credf(ors 69,000 13 Unrestrlcted funds The un$tcted fund5 ofthe charity comprise the unexpended balances of donations and grants which are not subject to sperific condrtions by donors and grantors as to how Ihey may be used. These include designated funds which have been set aside out of unrestricted lunds by Ihe trustees for specific purposes. At 6 Ap1 2024 Ineomlng r•soure•s Rè8oure•8 expended Galn• and 10•8•8 At 5 Aprll 2025 Gen&ral funds 2.908.968 88.524 199.2191 178,6301 2,819.643 Prevlou• year: At 6 Aprll 2023 Incomlng rQu¥ RoUrC expended Galns and los¥e8 At S Aprll 2024 Gen&r81 lund$ 2.791,675 5,986 190,3261 121,633 2,908,968 14 Analys1¥ of net a••ets belv•Yen funds Unr••trlct•d Unrestricted lunds funds 2025 2024 Fund b818neè$ al 5 April 2025 are reprented by". Investments Current assetsllliabilrtiesl 2,756,949 62,694 2.786,714 122,254 2,819,643 2,908,%8 15 Related party transactlons There were no disdosable relaled pawty trnnsactkjns during the year12024- none). 10