REGISTERED COMPANY NUMBER- 00891749 (England and Wales REGISTERED CHARITY NUMBER.. 273810 Report of the Trustees and Audited Financi31 Statements for the Year Ended 31 August 2024 for Robert Luff Foundation Limit Robert Luff Foundatlon Limitod Contonts of the Flnancial Statements for the Year Ended 31 August 2024 Page Report of thè Trustees Report of tho Independent Auditors statèment of Flnanclal Actlvltles Statement of Financial Posltlon Statement of Cash Flows Notès to the Statement of Cash Flows 10 Notes lo the Finanelal Statements Detailed Statement of Financial Aetivities 18 Robert Luff Foundation Lim4tod Rèport of th? Trustees for the Year Endgd 31 August 2024 The trustee5 who are also directors of the charity for the purposes of the Companies Aet 2006. present iheir report with the financial statements of the charity for the year ended 31 August 2024. The Iruslees have adopted the provisions of the Statement of Recommended Practice 'Accounling and Reporting by Charities, IFRS SORPI, effectiv8 1 January 2015. Robert Luff Foundation Limited is a registered eharily and a company limited by guarantee. OBJECTIVES AND ACTIVITIES Objective and Princlpal Activity The company's objective and principal activity is the distribution of funds lo other charitable institutions with particular reference to medical research. This objective and activity has r8mained unchanged from premous years. Publlc bènèfit We have referred io ihe guidance contained in the Charily Commission's general guidance on publi¢ benefit when reviewing our aims and objectives and in planning our future activities. In parb'oular, the trustees consider how planned activities will contribute lo the aims and objedives they have set. STRATEGIC REPORT Achievement and p•rformance Development, Activities and Achievements thls Year The trustees consider that the perfomiance of the charity this year has been satisfactory. Donations to charitable organisations in the y88T amounted to £1,305,000 12023.. £1,399,0001. The company has continued lo suppKIrt similar beneficiaries as in earlier years. Financial review Fixed A55et Investments Details of movements in fixed asset investments are sel out in note 10 to the financial statements. Transactlons and Financial Position Thé Stalernent of Financial Acbvities shows nel incornellexpendltu￿I for the year of £3,173,86412023.. £11,203,51611 and reserve5 01 £40,696,51912023'. £37,522,655) al the balance sheet date. In accordance with policies for investment laid down in earfier years, the company has Continued lo monitor the amount of cash held on deposit and lo invest in acceptable quoted investments when suiiable opportuniti95 arise during the year. Future plans It continugs to be the Board's intention lo preserve the company's resources lo ensure that donations can be maintained at aeeeptable levels in fvlure years. The trustees believe that this policy will ensLJf8 that I h8 company will have sufficient funds in the future to fulfil any obligation to which il is committed. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by ils goveming document. and lis Memorandum and Articles ol Assoclalion and oonsts'tutes a limiled company, limited by gu8r8nlee, as defined by the Cornpallies Act 2006. Organisational structure The charity is organised so that the trustee8 consult each other regularfy lo help rnanage the companls affairs. The tru5te8s are assisted by professional advisors. Risk management The trustees actively review the major risks which the charity laces on a ￿gUlar basis and believe that maintsining serves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resourG88 in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the oharily and confirm that they hav8 8slabli5hed systems to mitigate the Significant risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00891749 (England and Wales) Registered Charlty numbèr 273810 Robèrt Luff Foundation Limited Report of the Tru5tee¥ for the Year En(led 31 August 2024 Reglstered offic• Waters Edge Ferry Lane Moulsford Wallingford Oxfordshire OX10 9JF Trustees Mrs M Condon MrRPJPrice The Rev. M Tornlinson Lady M R Bodey Sir P J D Coleridge Dr H E Hughes Company Secretary MrRPJPric8 Auditors Parker Cavendish Chartered Accounlanls Registe￿ Audilor Suite 301 Stanmore Business and Innovab'on Centfe Howard Road Stanmore Middlesex HA7 1FW Bankers Clyde5dale Bank plc The Leadenhall Buildillg 122 Leadenhall Slre8t London EC3V 4AB Investment Advlsors Schrod8r & Co. Limited 1 London Wall Barbican London EC2Y SAU Fidelity Investment Services Limited 08khill House 130 Tonbridge Road Hildenborough Kenl TN119DZ Black Rock Inveslmgnt Management IUKI Limited 12 Throgrnorton Avenue London EC2N 2DL DIRECTORS ANtJ TRUSTEES All direetors ol Ihe cornpany are also trustees of the charity, and there are no other trustees. All ol the trustees named on th8 company information sheet served throughout the year save where indic8tod. The board has the power lo ppoint additional trustees as it considers fil lo do so. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trus18es Iwho a￿ also the directors ol Robert Luff Foundation Limited for the purpose5 of company lawl are responsible lor preparing the Report of the Trustees and th8 financial statements in accordance ￿th applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PractiTrl including Financial RopO￿.ng Siandard 102 'The Financial Reporting Standard applicable iri the UK and Republic ol Ireland Robert Luff Foundatlon Llmited Rgport of the Trustees for thè Yéar Ended 31 August 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES- contlnued Company law requires trustees lo prepare financial statements for èach financial y8ar which give a true and fair vièw of the state of affairs of the charitable Company and of ihe incoming resource5 and application of resources, including the income and expendilure, ol the charitable company for that period. In prèparing those financial statements. thè trustee5 8re required to select suttsble accounting policies and then apply Lhem consistently., observ& the methods and principles in the Charity SORP". make judgements and estimates that are reasonable and prudent., slate whether appli¢able aocounling standards have been followed, subj$ct lo any material departures disclosed and explained in the financial slalements., prepare the financial statetnenls on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. Th8 trustees are responsible lor keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of ihe charitable company and lo enable them to ensur& that the financial statements comply vwth the Companies Act 2006. They are also responsiblo for safegu8rding the assets of the charitsble cornpany and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregulaiilies. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees a￿ awa￿, the￿ is no relevant infotrnation las defined by Section 418 of the Companitss Act 20061 of which the charitable Company's auditors are unaware. and each trustee has taken all the steps that they ought lo have taken as a Iruslee in order lo make them aware of any audit inforrnalion and to establish that the charitable oompany's auditors are aware of that infomab'on. AUDITORS The 8udilors. Parker Cavendish, wll be prop08ed lor re-appoinlmenl at the forthcoming Annual General Meeting. Report of the Iruslees, incorporating a strategic report, approved by order of the board of trust8es, 88 the company d5￿Clors, on 16 May 2025 and signed on the board's behalf by.. MrRPJ e- Trustee Report of the Independent Auditor5 to the Members of Robert Luff Foundatlon Limlted Opinlon We have audited the financial stalernents of Robert Luff Foundation Lirnited (the 'charitable company'l for the year ended 31 August 2024 which comprise the Slal8m8nt of Financial Activities, the Staternent of Firiancial Position. the Statement of Cash Flows and notes to the finaficial stmtements, induding a summary of significant accounting policies. Th8 financial reporting Irarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accoptgd Acoounting Practice), including Finanoial R8portin9 Standard 102 Th8 Financial Reporting Standard applicabl& in tho UK and Republic ol Ireland,. In our opinion the flnancial statements.. give a true and fair view of the State of the charitable cornp8ny's affair8 as at 31 August 2024 and of its incoming sources and application of resources, including its income and expenditure, for the year then endgd,. have been properly prepared in accordance with United Kingdotn Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Finan¢ial Reportlng Standard applicable in th8 UK and Republic of I￿land.; and have been prepared in accordance wth the requirements of the Companies Act 2006. Basi6 for opinion We conducted our audit In accordance wth Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards arg further described in Ihe Auditors. responsibilities ft)r the audit of ihe financial statements section of our report. We a￿ independent ol the charit8ble Gompany in accordance wlh the ethical requirements that a￿ ￿levant lo our audit ol the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled OLir other ethical responsibilities in accordance with these requirements. We believe th81 th8 audit evidence we have obtained Is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slaternents, we have concluded that the trustees. use of the going concern basis ol accounting in the p￿ParatIOn of the financial statetnents is appropriate. Based on the work we have performed, we have not identified any malerial Un￿rtain￿'eS relating to events or conditions that. individually or collectively, may cast significant doLJbt on the charitable company's ability to continue as a going concefn for a period ol at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the r8sponsibilib.es of the trustees with respect lo going eoncem are described in the relevant sections of this report. Other informatTron Thp trustees a￿ responsible for the other infofmatlon. The other infomiab'on compri88$ the information included in the Annual Report, other than the financial statern&nts and our Report of the Independ8nt Auditors thereon. Our opinion on the financial statéments does not cover the other informalion and, except lo the extent olh8rwi59 explicitly sialed in our report, we do not express aNy form of assurance conclusion thereon. In connection with our audil of ihe financial $tat8rnents, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislent with the financial statements or our knowledge oblairiExJ in Ihe audit or otherwise app8ar5 lo be materially misstated. If w8 identify such material inconsistencies or apparent material misstalernent5, we a￿ required lo determine whether this gives rtse to a material misstalemenl in the financial statements themselves. If, based on the work w8 have performed, we conclude that th8re 15 a material misslalernent of this other Information. we are ￿qUired lo report that fact. We have nothing to ￿port in this Tegard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the Information given in the Report ol the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements", and the Report of the Tru51ees has been prepa￿d in accordance with applioabl8 lègal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding ol Ihe charitable ¢ompany and its environmenl obtsined in th8 cours8 of the audit, we hav8 not identified material rnisstalements iri the Report of the Trustees. We have nothing to ￿port in respect of the followng matters where the Companies Act 2006 requires us to report lo you il. in our opinion.. adequate accounting records have not been kepl or returns adequate lor OLJr audit have not been ￿e1ve￿ from branches not visited by us,. or the financial statements are not in agreemenl with th8 accounting records and ￿tUrns,. or certain disolosures ol trustees, remuneration specified by law a￿ not made., or hove not ￿ceiVed all the information and &xplanats'tsns we requi￿ for our audit. Report of the Indep•ndent Auditors to the Members of Robert Luff Foundatlon Limitod Responslbllltles of trustees As explained more fully in the Statement of Trustees, R¢sponsibilities, the trustees Iwho a￿ 8180 the directors of the charitable company for the purposes ol company lawl are r85ponsible for the preparation ol the financial slal8menls and for being satisfied that they give a true and fair view, and for such Internal control as the trustees determine is nec8558ry to enable the preparation of financial stat8menls that are frge from material misstatement, whether due lo frdud or error. In preparing Ihg financial sialements, the trust88s are responsible for assessing the ¢harilable company's ability to continue as a going concern, disclosing, as applirable, m8tters relaled lo going concern and using the going concern basis of accounting unl855 the trustees either intend to liquidate the charitable company or to eeas8 oporalions, or have no realistic altemative but to do so. Our r95ponsibilities for the audlt of th• financial Statements Our objectives are to obtain reasonable assurance about whèther th8 financial slalernents as a whole are free from material misstatement, whether due lo fraud or error, and to issue a Report Of the Independent Auditors that Include5 our opinion. Reasonable assurance is 8 high level of assurance, but is not a gLJarantee that an audit conduded in accordance with ISAS IUKI will always deteGI a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, indiv1dually or in th8 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, induding fraud is detailed below.. Irregularities, induding fraud, ar8 instan￿S ol nonn and claims., and - we reviewed any other appli¢able correspondence. There are inherent limitab'ons in our audit procedures described above. The mor8 rernoved that laws and ￿gUlationS are from financial transacb'ons, the less likely il is that we would become aware of non-compliance. Auditing standard5 also limit the audit procedures ￿Qui￿d to idenb.fy non-oompliance with laws and regulats'ons lo enquiry of the directors and othor management and the inspection of regul81ory and legal correspondence, if any. Material misstatements that arise due lo fraud can be harder to delecl than those that arise from error as they rnay involve deliberate ooncealmenl or collusion. A further description of our r&sponsibilities for the audit of ihe financial $18lernents is located Dn the Finaneial R8POrting Council's website at www.frc.org.uklaudilorsresponsibilities. This description forms p8rt of our Report of the Independent Audltors. Report of the Ind8pendent Audltors to the Members of Robert Luff Foundation Limited Use of our report This report is made solely lo the charitabl8 company's members. as a t&)dy, in accordance wth Chapter 3 01 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to state lo them in an audilors. report and for no oth8r purpose. To the fullest extenl permitted by law, we do not a¢￿p1 or assume responsibility to anyone other than the charitable company and the chartsblo cornpany's members as a body, fi)r our audit work. lor ihis report. or for the opinions we have formed. R8ymond Rubenstein (Senior Slalulory Auditor) for and on behalf ol Parker Caven(Jish Chartered Accountants Registered Auditor Suite 301 st8nmor8 Business and Innovation Centr8 Howard Road Stanmore Middlesex HA7 1FW 16 May 2025 Robert Luff Foundatlon Llmlted Statement of Financial Activities Ilncorporating an Income and Expendlture Account) for the Year Ended 31 August 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME ANO ENDOWMENTS FROM Inveslm8nl income 954.664 839,386 EXPENDITURE ON Charitable activities Donations Govemance ¢osls 1,305,000 324,188 1.399.000 319.161 Total 1,829,188 1,718.161 Net gainslllossèsl on investments 3.848,388 1324,7411 NET INCOMEIIEXPENDITURE) 3,173,864 11.203,5161 RECONCILIATION OF FUNDS Total funds brought forward 37,522,655 38,726.171 TOTAL FUNDS CARRIED FORWARD 40,698,519 37,522,655 The notes form part of thes8 financial statements Robert Luff Foundatbon Limited Statement of Flnanclal Posltlon 31 August 2024 2024 Total funds 2023 Total funds Notes FIXED ASSETS Investments 10 39,926,408 36,745,444 CURRENT ASSETS Debtors Cash al bank and in hand 380,460 478,468 321,477 500,384 858.928 821,861 CREDITORS Amounts tslling due within one year 12 188,8171 144,6501 NET CURRENT ASSETS 770,111 777.211 TOTAL ASSETS LESS CURRENT LIABILITIES 40,696,519 37.522,655 NET ASSETS 40,696,519 37,522,655 FUNDS Unrestricted funds 13 40,696,519 37.522,655 TOTAL FUNOS 40,696,519 37,522.655 The flnancial statements were approved by the Board of Trustees and aulhorised for issue on 16 May 2025 and were signed on its behalf by.. Mr R P J Price- Truslee The notes lomi part of ih889 finan¢i81 ststemenis Robert Luff Foundatlon Llmlt8d statement of Cash Flows for the Year Ended 31 August 2024 2024 2023 Notes Cash flows from operatin9 activities Cash generatsd from operations 11,796,565) 11,860,244) Nel cash used in operating activities 11,796,565} 11,860.2441 Cash flows from Investlng actlvltios Purchase of fixed asset investments Sale ol fixed assel investmènts Interest received Dividends received 11,231,535) 2,051.520 19,728 934,936 12,136,7761 2,871,459 9,328 830,058 Nel cash provided by investing activities 1,774,649 1,574,069 Change in cash and cash equlvalents In thè reporting period Cash and cash equivalents at the beglnning of the reporting period 121,9161 1286,1751 500,384 786,559 Cash and cash equivalents at the end of the reportlng period 478,468 500,384 The noles form part of these finaneig18tstemenls Robert Luff Foundatlon Llmlted Notes to the Statement of Ca¥h FILIW for the Ygar Ended 31 August 2024 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Incomg118xp8nditur81 for the reporting pgriod la5 per the statement of Financial Activities) Adjustments for.. Gain on investmenls Inte￿st ￿ceiVed Dividends received Revaluation of investments Increase in debtors Increase in Creditors 3,173,864 11,203.5161 190,6571 119,7281 1934.9361 13.910,2921 158,9831 44,167 120,3921 19,3281 1830,0581 236,835 134,5851 800 Net cash used In operations 11,796,56SI 11,860.2441 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank and in hand 500,384 121,9161 478,468 500,384 121,9181 478,408 Totsl 500,384 121,9161 478.468 The notes fomi part of these financial statements 10 Robert Luff Foundatlon Llmlted Notes to the Financial Statements for the Year Ended 31 August 2024 ACCOUNTING POLICIES Basis of preparing Ihe financial statements The financial statements have been prepa￿￿ in aeeordance with Accoijnling and Reporting by Charities.. Slalemenl of Recorrrrended Practice applicable in the UK and Republi¢ of Ireland IFRS 1021 Ichariiies SORP IFRS 1021 l. the Financial Reporting Standard applicable in the UK and RepLJblic ol Ireland IFRS 1021, and applicablè company and charity law in the UK. The principal accounting policies adopted in the preparats'on of the financial statements are set out below and have remained unchanged from the previou5 year, and also have been consistenuy applied within th8 Same accounts. The trustees consider thal there a￿ no material uncertainligs 8boul the Charitys ability to continue as a going concem. Income All incomg 18 rec(xJnised in the SiatemenÉ of Financlal Acuvlties once the charity has enlillernenl to the funds, It is probable that the incorne will be re￿iVed and the amount can be measured reliably. Expenditure Liabilities a￿ recognised as expenditure as soon as there is a legal or constructive obligation cornrnitbng the charily to that expenditure, il is probable that a transfer of economic benefits will be required in setUern8nl and the amounl ol Ihe obligation can be measured r81iably. Expenditu￿ is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs eannol be directly 8tlributed lo particular headings they have bè8n allocated lo activities on a basis consistent wth the us8 of resources. Grants offered subject lo conditions which have not been met at the year end dat8 8re noted as a commilment but not accru8d 85 9xpendilure. Assets and liabilitSes Investments are stated at market value al the balance sheet date. Realised gains and losses on disposal8 in the year and unrealised gains and losses on investments at the balance sheet date are included in the Statement of FinancAal Activities. Debtors 8nd creditors a￿ stated at settlement amount after any applicable dI￿ounts. Cash and bank deposits st8t8d al the cash amounl. Cash and cash equivalents include deposits repayable on demand without penalty. Go¥ernance and admlnlstration costs Govemance and adrnini5tralion ¢0518 include 811 expenditure not d1￿clIY related to the charitable aclivily. This includes remuneration for adminislrabve services, audit, investment managemenl and other professional fees. Taxation & value added tax Th8 charity is exempl from corporation tax on its charitable 8clivili8s. Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Aclivilies. Fund accounting Unrestricted funds are fregly available and can be used in accordance with tha charitable objectives at the discretion of the trustees. continugd... Robert Luff Foundation Ltmited Notes to th8 Flnancl(Il Sl4tl¥rTi¥rilts- wiili1iu￿ for the Year Ended 31 August 2024 INVESTMENT INCOME 2024 2023 Income frorn listed Investments Investment managers fees rebale D8POSIt account interest 878,233 56,703 19.728 782,567 47,491 9,328 954.664 839,386 All of the investment in¢ome Is from Inveslmenl assets held within UK. CHARITABLE ACTIVITIES COSTS Grant funding of actimlies Isee ntste Support costs (see note 51 41 Totals Donations Govemance costs 1,305.000 1,305,000 324,188 324,188 1,305,000 324.188 1,629,188 GRANTS PAYABLE 2024 2023 Donations 1,305,000 1,399,000 12 continued... Robort Luff Foundatlon Lirnlted Notes to the Flnanclal Statements - continued for the Year Ended 31 August 2024 GRANTS PAYABLE- continued 2024 2023 Action Medical Research Alkaplonuria Society Animal Fr6e R8588rch UK Antibiob"c Res88rch UK Asthma + Lung UK Autism Wesl Midlands Autistica Balsall Heath CATS (Children Action Ream Support) Balten Disease Family Association Bone Cancer Research Trust Bowel Research UK BRACE Dementia Resear¢h Brain Tumour Research British Liver Trust British Thyroid Foundation Calvert Trust Keswick Cardiac Risk lor the Young Clarion Trust International Crohn's & Colitis UK Crohn's IN Child Cystic Fibrosis Trust Embrac8 The Middle East Empathylab Cornrnunications Encephalitis Inlemational Epilepsy Resoarch UK ESPA Research Genetic Allianc6 Gordon Highlander5 Assooialion Haemochromalosis UK Kent University Lepra Leukaemia and Myeloma Research UK Leukaemia UK argaret Pyke Trust Medical Aid for Palestinians Mgningilis Now NF2 Biosolutions North West Cancer Research Not Beyond Redemption OCCA House Ltd Oracle Head And Neck Cancer UK Orchid Can￿r Pain Relief Foundation Pancreatic Caneer UK PSP Association Respected Retina UK Rosetrees Trust Royal Trinity Hospice Scoliosis Support and Research Sheffield Teaching Hospital Sight Research UK Spinal Muscular Atrophy Trust ISMA Trust) Spinal Res8arch Twsl St Augustines Church The Alaxia-Telangiectasia Society The Cassel Hospital Charitable Trust The Clatterbridge Cancer Charity 20,000 20,000 30.000 50,000 30,000 2,000 20,000 20,000 30,000 30,000 30,000 5,000 10,000 10,000 80,000 30,000 10,000 30,000 20,000 10,000 80.000 30,000 10,000 30,000 10,000 3,000 20,000 10,000 25,000 20,000 10,000 25,000 25,000 200,000 5,000 2,000 10,000 10,000 60,000 20,000 35,000 150,000 20,000 80.000 20.000 35,0(X) 10,000 30,000 10,000 10,(KJO 20,000 20,000 5,000 20.000 10.000 15,000 1,000 20,000 20,000 10,000 10,000 20,000 20,000 20,000 20,000 25,000 10,000 10,000 15,000 10,000 150,000 30,000 25,000 60,000 15,000 10,000 10,000 150,000 20,000 25,000 60,000 15,000 39.000 10.000 10,000 30.000 20.000 20,000 10,OLYJ 13 continu8d... Robert Luff Foundatlon Llmitgd Notes to the Financlal Statements . contlnu¢d for thè Year Ended 31 August 2024 GRANTS PAYABLE - contlnued The David Nolt Foundation The Jessie May The Marriag8 Foundation The Migraine Trust The Pain Relief Foundation The Sussex Multiple Scl8rosis Trèatment Centre Wellbeing of Wom9n Windrush Trust WMUK 15,000 10,000 38,000 20,000 29,000 20,000 20,000 10,000 10.000 10,000 10,000 10,000 10,000 10.000 2022 donation lo Epilepsy Research r8V8r58d 120,0001 1,30S,000 1,399,000 SUPPORT COSTS Governance costs Govemance costs 324.188 Support costs, in¢luded in the above, are as follows.. Governance costs 2024 Governance costs 2023 Total 8cbvili&s Trustees, fees Trustees, expenses Auditors. remungratinn Auditors. remuneration for non audit work Investment rnan8g¢rs fees Sundries 21,048 1,200 8,682 6,300 285,793 1,165 14,187 1,200 8.577 6.530 287,346 1.321 324,188 319,161 NET INCOMEIIEXPENDITUREI Net lncomellexpendilu￿I is st8t8d after chargingllcredilingl.. 2024 2023 Auditors, remuneration ALJditors' remuneration for non audrt work 8,682 6,300 8,577 6,530 14 continued... Robert Luff Foundatiofi Limited Notes to the Flnancial Statements- continued for the Year Ended 31 August 2024 TRusfEES' REMUNERATION AND BENEFITS RPJ Price was paid fees for administrative and compony secretsrial services for the period amounting lo £21.04812023.. £14,187). No rernuneralion or other benefits paid to other trustees in the year. TrustO86' expenses Trustees. expenses of £1.20012023.. £1,200) were paid during the year in respect of Tegistered office expenses. Addition81 trustees, expenses of £1,38912023'. £1,225) were paid during the year in respect of Iravelling and office expenses. STAFF COSTS The charity does not employ any staff. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME ANO ENDOWMENTS FROM Inveslmfynl income 839,386 EXPENDITURE ON Charltable actlvltles Donations Governance costs 1,3g9.000 319,161 Total 1,718,161 Net gain81llossesl on investments 1324,7411 NET INCOMEIIEXPENDITUREI 11,203,516) RECONCILIATION OF FUNDS Total funds brought forward 38,726,171 TOTAL FUNDS CARRIED FORWARD 37,522,655 10. FIXED ASSET INVESTMENTS Listed inveslmanls MARKET VALUE Al 1 Seplernber 2023 Additions Disposals Revaluatlons 36,745,444 1,231,535 11,960,863} 3,910,292 At 31 August 2024 39,926,408 NET BOOK VALUE Al 31 August 2024 39,928,408 Al 31 August 2023 36,745,444 There were no investrnenl assets outside Ihe UK. The cost of fixed asset investments held al 31 August 2024 is £29,489,43512023.. £30,081,085). continued... Robert Luff Foundation Limited Notes to the Financlal Statement5- eontinued for the Year Ended 31 August 2024 10. FIXED ASSET INVESTMENTS- continued All ol the above listed inv85trnents are held wlhin the UK. Cash deposits of £168,85012023.. £206,661) we held as part of the Investment portfolio whioh 1$ included within cash at bank and in hand. The portfolio comprisod the following material holdings.. Material holdings ov¢r 5Vts of the portfollo value 2024 2023 Schrodgrs Charity Multi Assels Fund Fidelity Investments Global Sp8cial Situations Fidelity Multi Assets Incorme Fund Blackrock Diversified Growth FLSnd Blackrock Global Income Fund 22¥. 32V. 18Vo 17Wo 11Yo 18¢ 170/0 12° 11. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors PTepayments and accrued income 38,499 341,961 321,477 380,460 321.477 12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 A¢¢ruals and deferred income 88,817 44,650 13. MOVEMENT IN FUNDS Nel movement in funds At 31.11.24 Al 1.9.23 Unrestricted fun(Is General fund 37,S22,655 3,173,864 40,696,519 TOTAL FUNDS 37,522,655 3,173,864 40,696,519 Net movement In funds, included in the abts￿ are as follows.. Incoming resources Resour¢gs expended Gains and losses Movement in funds Unrestrictèd fvn(Is General fund 954,884 11,629,188) 3.848,388 3,173.864 TOTAL FUNDS 954,664 11,629,188) 3,848,388 3,173,864 16 continued... Robert Luff Foundatlon Llmlted Notes to the Financial Statements- continued for the Year Ended 31 August 2024 13. MOVEMENT IN FUNOS-conttnued Comparatl¥85 for movement In funds Nel movement in funds Al 31.8.23 Al 1.9.22 Unr85tricted funds Ggneral fund 38.726,171 11,203,516) 37,522.655 TOTAL FUNDS 38,726.171 11,203,516) 37,522,655 Comparative nel movement in funds, included In th$ above are as follows.. Incoming resokjrces Resources expended Galns an losses Movement in funds Unreslricted funds General fund 839.386 11,718,161) 1324,741 } 11,203,516) TOTAL FUNDS 839,386 11,718,161) 1324,7411 11,203,5161 14. RELATED PARTY DISCLOSURES All the directors of th8 company are also directors ol Beryl Evetts And Robert Luff Animal Welfarè Trust Lirniled IBERLAWTI. Al the year end, there was an amount tsf £18.49912023.' £nill due from 8ERLAWT. 1S. CONTINGENCIES The company is limited by guarantee and, in the gvenl of a wnding-up, the liability of ils m8rnb8rs is limited to an amount not exceeding £10 per member. 17 Robert Luff Foundation Limited D8talled StatBmvnt ol FiiiilllLldl AiLi¥ili•s for the Year Ended 31 August 2024 2024 2023 INCOME AND ENDOIIVMENTS Investment income Income from listed investments Investment manager5 f8e5 rebata Deposit account interest 878,233 56,703 19,728 782,567 47,491 9,328 954,664 839,386 Tot81 incomlng resources 954,664 839,386 EXPENDITURE Charitabl• activltSes Donations 1,305,000 1,399,000 Support costs Govgrnanc8 eosts TrLJStees' fees Trustees, expenses Auditors, ￿M￿neratIOn Auditors, remulleralion lor non audit work Investment rnanagers fees Sundries 21,048 1,200 8,682 6.300 285.793 1,165 14,187 1,200 8,577 6,530 287,346 1,321 324,188 319,161 Total resources expended 1,629,188 1,718.161 Net expenditure before gains and losses 1674.524} 1878,7751 Reallsed r8cognis8d gains and losses Realised g8inslllos8esl on fixed asset investmenis 90,657 20,392 Nèt expenditure 1583.8671 1858,3831 This page does not form part ol the statutory fin8nci8151otements 18