WHITEHALL CHARITABLE FOUNDATION LIMITED (Limited by guarantee FINANCIAL STATEMENTS 31" DECEMBER 2024 Company Registration Number: 01273881 Charity Registared Number 272297
PAGE 1 WHITEHALL CHARITABLE FOUNDATION LIMITED (Limited by guaranteé) REPORT OF THE COUNCIL OF MANAGEMENT The council has pleasure in submttting the annual report and financial statements of Whitehall Charitable Foundation Limited for the year end8d 31$1 Dember 2024. NAME AND REGISTERED OFFICE OF THE CHARITY The full name of the Charity is Whitehall Chaiitable Foundation Limited and tts registered Offi is 5 Springlakes Estate, Deadbrook Lane, Aldershot, Hants GU12 4UH OBJECTS The company is registered as a charity. The objects of the company are as set out in the Memorandum and Articles of Association and it is established for the benefrt of seafaring men and woman and their families and such other members of the general public or charitable organisation as may be deemed to be deserving, such benefit being given for educational and welfare purposes. The foundation does not undertake fund raising activities. and derives tts income from investments. CONSTITUTION The charity was fomied as a company limited by guarantee on 19th August 1976. The company registered number is 01273881 The charity registered number is 272297 Review of the Develo ments Aclivities and Achievements durin the ear The investments of the charily have decreased in value over the year due to disposals exceeding additions, investments held have actually increased in value overall. The investment managers are.. Charfes Stanley & Company Limited 55 Bishopsgate London EC2N 3AS Donations are detailed in note 3 to the accounts. Review of Transactions and Financial Position Funds were raised from the charity's investments. The funds available to the company are adequate to fulfil its current financial obligalions.
PAGE 2 Whitehall Charitsble Foundation Limited (Limited by guarantee Report of the Council of Management (continued) Council of mana ement The members of the council of management are appointed by a majority vote of th8 ¢ouncil and during the year were as follows-. J M Tumbull H T Turnbull C E Lloyd Owen anisation Structure The foundation has no paid employees and all decisions are mad6 by the Council of Management from its registered office. Policies The foundation's policy Is lo distribute up to two thirds of its net income by way of donations and to invest the remainder in blue thip investments. Funds There are no restricted funds. The foundations fund5 are all available for distribution in accordance with its objects and subject to its policies. Investment Power The Memorandum and Articles of Association of the company pemiit the investment of money not irnmediately required for its objectives in any investments, as may be thought fit. Bankers Barclays Bank PIC Guildford Branch Ranger House Walnut Tree Close Guildford, Surrey GU14UL Auditors A special resolution was passed on 81h June 2005 whereby the need for an audit and the appointment of audttor5 should cease.
PAGE 3 Whitehall Charitable Foundation Limit•d (Limited by guarantee) Report of the Council of Management (continued) ncil of Mana ement's res Dnsibilili88 Company law requires the Council of Management to prepare financial stal-ments for each financial year, which give a true and fair view of the slate of affairs of Ih.-: company and of the income and expenditure of the company for tha period. In prep.'4ring those riiidllLldl blilteiTienls, the GounGiI is required to.. select suitable accounting policies and then apply them consistently,. make Judgements ana eslimates thal are reasonable and prudent., state whether applicable accounting standards have been followed, subi-¢t to any material departures di5Glosed and explaiii¢d in Ilie fiiiaiiGial slaleiiiviils, prepare the accounts on the going concem basis, unless it is inappropriate l) presume that the foundation will continue in operation. The council of management is responsible for keeping proper accounting rec irds which disGlose with reasonable accuracy at any lime the financial position of the Coiiipany and to enable it to ensure that the finanGial statements comply wilh the Companies Act 2006. It has general responsibility tor taking such steps as are reason2bly np.Jn tn it tn safeguard the assets of the company and prevent and detecl fraud or other irr-gularities. By order of the council SRFord Coinpany 3vGretary 5 Springlakes Estate Deadbrook Lane Aldershot Hants GU124UH
PAGE 4 WHITEHALL CHARITABLE FOUNDATION LIMITED {Limited by guarante8) STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31st DECEMBER 2024 Notes 2024 2023 Incorne and Expenditure Incoming resources Income from Investments 52.902 40.530 774 Income from fixed deposits & interest 773 Total Incoming Resour$ 53,675 41,304 Resources Exp8nded DireGt Charitable Expendrture Grants Payable Other Expenditurè Administrative expenses (23,000} {22,000) {3,269) (3,2811 Totsl Resources Expended (26,269) {25.281) Net Incoming Resources Unrealised gains on investments Unrealised losses on investments Realised {loss)Iprofit on investments 27.406 64,412 (27.7331 10.930 16,023 81,003 (28,380) (1,116) Net movement in funds 75,015 67.530 Funds brought forward 46,981 68,290 Transfer from (to) Other reserves 25.942 (88.839) Balanco carried forward 147,938 46,981 All funds are unrestricted incorrte funds. The charitable company has no recognised gains or losses other than in the net movement in funds for the year. The incoming resources and resulting net movements in funds arise from continuing operations.
PAGE 5 WHITEHALL CHARITABLE FOUNDATION LIMITED (Limited by guarantee) BALANCE SHEET AS AT 318t DECEMBER 2024 Notss 2024 2023 Fixed assets Investments 821,810 847,751 Current assets Taxation recoverable Cash at bank Debtor 30,860 117,078 20,599 26,382 147,938 46,981 Credltors: amounts falling due within one year Net Current assets 147,938 46,981 Totsl assets less current liabillties 969,748 894,732 Reserves: Other feserves Income and exFendrture account 821.810 147,938 847,751 46,981 969,748 894,732 For the year ended 31st Decemter 2024 the company was entitled to exemption under Section 480 of the Companies Act 2006. No members have required the company to obtain an audit of its accounts for the year in question in accordan with section 476. The dire¢tors acknowledge their responsibility for (i) Ensuring the company keeps accounting records which comply wrth the Act,. and (li} Preparing accounts which give a true and fair view of the state of affairs of the Gompany as at the end of its financial year in accordance wrth the Act and whith otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company. These financial statemenls were approved by the Council of Management on 15th September 2025 and were signed on its behalf by'.- Member of the Council J M Turnbull
PAGE 6 WHITEHALL CHARITABLE FOUNDATION LIMITED (Limited by guarantee) NOTES {fomiing part of the financial statements) Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention and in accordan with applicable accounting standards and the Companies A 2006, and in accordance with the Statement of Recommended Practice.. Accounting by Charities 2000. Incom8 from Investments 2024 2023 Listed Investments Unlisted Investments 21,258 31,644 18.625 21,905 52,902 40,530 Grants 2024 2023 The grants made are as follows.. Argyll Fisheries Trust NSPCC Action Medical Research Action for Children Surrey Clubs for Young People West Wilts Portage SeNices Royal National Lifeboat Institution Meath Epilepsy Trust Step by Step Shooting Star Childrens Hospices Jigsaw (South East) 2,000 3,000 3,000 3,000 1,000 1,500 3,000 3,000 1,500 1,000 1,000 2,000 3.000 3,000 3,000 1,000 1,500 3,000 3,000 1,500 1,000 23,000 22,000 Administrative expènses 2024 2023 Investment Management Sundries 3,148 121 3,040 241 3,269 3,281
PAGE 7 WHITEHALL CHARITABLE FOUNDATION LIMITED (Limitsd by guarantee) NOTES Ifomilng part of the financial ststements) Administratlve expenses - continued None of the members of the council of management reiVed any remuneration during the year {2023- nil). Fixed asset investments The investments held are in.. (a) Unlisted investmenls Investments in private companies Cost Value at 111124 Acquired Disposed Value at Repaid 31112124 TSC SPV Ltd 102,077 ordinary 30p shares 30,623 30,623 Relcross Limited 102,077 Ordinary 0.1p shares 102 102 Rodin Commercial Holdings 590,084'A' Ordinary 1p shares Loddon Door Services Limited 102.077 'A' Ordinary 1p shares- 30,725 30,725
PAGE 8 WHITEHALL CHARITABLE FOUNDATION LIMITED {Limited by guarantee) NOTES Ifomling part of the finanGial slaternents) {b> Listed investments Market Value at 11112024 Additions during the year at cost Disposals 817,026 119,732 (182,352) 754,406 Unrealised gains Unrealised losses 64,412 127,7331 36,679 Market value at 3111212024 791.085 Total Value as at 3111212024 821,810 In the opinion of the Council of Management the Foundation's investments in Private Companies are worth at least the amount at which they are shown in the financial statements. The cost of arriving at a market valuation of these investments is not justified. The Historical Cost of Listed Investments held at the year-end was £604,870 Creditors: Amounts falling due within one year 2024 2023 Sundry creditors Liablllty of m8mbers The company has no share capital bLrt under the terms of Clause 8 of the Memorandum. any member is liable to contribute a sum not exceeding £1 in the event ofthe company being wound up during the lime that he is a member or one year Ihereafter. At 31 ¥t December 2024 there were 3 members12023- 31.
PAGE 9 WHITEHALL CHARITABLE FOUNDATION LIMITED (Limited by guarantee) NOTES (fomiing part of the financial ststaments) Other R8sgrves Other reserve comprises arnounts appropriated from the income and expenditure account to equal the value of the investments. Approval of financial statements The effect of events relating to the year ended 31¥t December 2024 which o¢Gurred before 15th September 2025, the date of approval of the financial statements by the Council of Management, have been included in the statements lo the extent required to show a true and fair view of the state of affairs at 31. December 2024 and the result for the year ended on that date.