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2025-08-31-accounts

REGISTERED COMPANY NUMBER: 00891749 (England and Wales) REGISTERED CHARITY NUMBER: 273810

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 August 2025

for

Robert Luff Foundation Limited

Robert Luff Foundation Limited

Contents of the Financial Statements for the Year Ended 31 August 2025

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 6
Statement of Financial Activities 7
Statement of Financial Position 8
Statement of Cash Flows 9
Notes to the Statement of Cash Flows 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18

Robert Luff Foundation Limited

Report of the Trustees for the Year Ended 31 August 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (FRS SORP), effective 1 January 2015.

Robert Luff Foundation Limited is a registered charity and a company limited by guarantee.

OBJECTIVES AND ACTIVITIES

Objective and Principal Activity

The company's objective and principal activity is the distribution of funds to other charitable institutions with particular reference to medical research. This objective and activity has remained unchanged from previous years.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

STRATEGIC REPORT

Achievements and performance

Development, Activities and Achievements this Year

The trustees consider that the performance of the charity this year has been satisfactory. Donations to charitable organisations in the year amounted to £1,595,000 (2024: £1,305,000). The Company supports a small number of beneficiaries as it has for many years but also gives rather more to those medical research projects which are recommended to it by another medical research charity and accepted by the trustees.

Financial review

Fixed Asset Investments

Details of movements in fixed asset investments are set out in note 10 to the financial statements.

Transactions and Financial Position

The Statement of Financial Activities shows net income after gains on investments for the year of £1,315,161 (2024: £3,173,864) and reserves of £42,011,680 (2024: £40,696,519) at the balance sheet date.

In accordance with policies for investment laid down in earlier years, the company has continued to monitor the amount of cash held on deposit and to invest in acceptable quoted investments when suitable opportunities arise during the year.

Future plans

It continues to be the Board's intention to preserve the company's resources to ensure that donations can be maintained at acceptable levels in future years. The trustees believe that this policy will ensure that t he company will have sufficient funds in the future to fulfil any obligation to which it is committed.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, and its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The charity is organised so that the trustees consult each other regularly to help manage the company's affairs. The trustees are assisted by professional advisors.

Risk management

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00891749 (England and Wales)

Registered Charity number

273810

1

Robert Luff Foundation Limited

Report of the Trustees for the Year Ended 31 August 2025

Registered office

Waters Edge Ferry Lane Moulsford Wallingford Oxfordshire OX10 9JF

Trustees

Mrs M Condon Mr R P J Price The Rev. M Tomlinson Lady M R Bodey Sir P J D Coleridge Dr H E Hughes

Company Secretary

Mr R P J Price

Auditors

Parker Cavendish Chartered Accountants Registered Auditor Suite 301, Stanmore Business and Innovation Centre Howard Road Stanmore Middlesex HA7 1FW

Bankers

Clydesdale Bank plc The Leadenhall Building 122 Leadenhall Street London EC3V 4AB

Investment Advisors

Schroder & Co. Limited 1 London Wall Barbican London EC2Y 5AU

Fidelity Investment Services Limited Oakhill House 130 Tonbridge Road Hildenborough Kent TN11 9DZ

Black Rock Investment Management (UK) Limited 12 Throgmorton Avenue London EC2N 2DL

Killik & Co LLP 46 Grosvenor Street Mayfair London W1K 3HN

DIRECTORS AND TRUSTEES

All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on the company information sheet served throughout the year save where indicated. The board has the power to appoint additional trustees as it considers fit to do so.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Robert Luff Foundation Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

2

Robert Luff Foundation Limited

Report of the Trustees for the Year Ended 31 August 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditors are aware of that information.

AUDITORS

The auditors, Parker Cavendish, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

........................................................................ Mr R P J Price - Trustee

3

Report of the Independent Auditors to the Members of Robert Luff Foundation Limited

Opinion

We have audited the financial statements of Robert Luff Foundation Limited (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

4

Report of the Independent Auditors to the Members of Robert Luff Foundation Limited

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the 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, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

5

Report of the Independent Auditors to the Members of Robert Luff Foundation Limited

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Raymond Rubenstein (Senior Statutory Auditor) for and on behalf of Parker Cavendish Chartered Accountants Registered Auditor Suite 301, Stanmore Business and Innovation Centre Howard Road Stanmore Middlesex HA7 1FW

Date: .............................................

6

Robert Luff Foundation Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2025

Notes
INCOME AND ENDOWMENTS FROM
Investment income
2
EXPENDITURE ON
Charitable activities
3
Donations
Governance costs
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2025
2024
Unrestricted
Total
fund
funds
£
£
823,398
954,664
1,595,000
1,305,000
317,783
324,188
1,912,783
1,629,188
2,404,546
3,848,388
1,315,161
3,173,864
40,696,519
37,522,655
42,011,680
40,696,519

The notes form part of these financial statements

7

Robert Luff Foundation Limited

Statement of Financial Position 31 August 2025

Notes
FIXED ASSETS
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
13
Unrestricted funds
TOTAL FUNDS		 2025
Total
funds
£
41,308,489
360,821
442,088
802,909
(99,718)
703,191
42,011,680
42,011,680
42,011,680
42,011,680		 2024
Total
funds
£
39,926,408
380,460
478,468
858,928
(88,817)
770,111
40,696,519
40,696,519
40,696,519
40,696,519

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Mr R P J Price - Trustee

The notes form part of these financial statements

8

Robert Luff Foundation Limited

Statement of Cash Flows for the Year Ended 31 August 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(2,120,596)
(2,120,596)
(25,218,528)
26,479,646
7,759
815,339
2,084,216
(36,380)
478,468
442,088		 2024
£
(1,796,565)
(1,796,565)
(1,231,535)
2,051,520
19,728
934,936
1,774,649
(21,916)
500,384
478,468

The notes form part of these financial statements

9

Robert Luff Foundation Limited

Notes to the Statement of Cash Flows for the Year Ended 31 August 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Gain on investments
Interest received
Dividends received
Revaluation of investments
Decrease/(increase) in debtors
Increase in creditors
Net cash used in operations		 2025
£
1,315,161
(154,666)
(7,759)
(815,339)
(2,488,533)
19,639
10,901
(2,120,596)		 2024
£
3,173,864
(90,657)
(19,728)
(934,936)
(3,910,292)
(58,983)
44,167
(1,796,565)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.9.24
Cash flow
At 31.8.25
£
£
£
Cash at bank and in hand 478,468
(36,380)
442,088
478,468
(36,380)
442,088
Total 478,468
(36,380)
442,088

The notes form part of these financial statements

10

Robert Luff Foundation Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102) ), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and applicable company and charity law in the UK.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Assets and liabilities

Investments are stated at market value at the balance sheet date. Realised gains and losses on disposals in the year and unrealised gains and losses on investments at the balance sheet date are included in the Statement of Financial Activities.

Debtors and creditors are stated at settlement amount after any applicable discounts. Cash and bank deposits are stated at the cash amount. Cash and cash equivalents include deposits repayable on demand without penalty.

Governance and administration costs

Governance and administration costs include all expenditure not directly related to the charitable activity. This includes remuneration for administrative services, audit, investment management and other professional fees.

Taxation & value added tax

The charity is exempt from corporation tax on its charitable activities.

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.

Fund accounting

Unrestricted funds are freely available and can be used in accordance with the charitable objectives at the discretion of the trustees.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

11

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

2. INVESTMENT INCOME

Income from listed investments
Investment managers fees rebate
Deposit account interest
Compensation		 2025
£
767,850
47,489
7,759
300
823,398		 2024
£
878,233
56,703
19,728
-
954,664

All of the investment income is from investment assets held within UK.

3. CHARITABLE ACTIVITIES COSTS

Donations
Governance costs
GRANTS PAYABLE
Donations		 Grant
funding of
activities
(see note
4)
£
1,595,000
-
1,595,000		 Support
costs (see
note 5)
£
-
317,783
317,783
2025
£
1,595,000		 Totals
£
1,595,000
317,783
1,912,783
2024
£
1,305,000

4. GRANTS PAYABLE

12

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

4. GRANTS PAYABLE - continued

Alkaptonuria Society
Animal Free Research UK
Antibiotic Research UK
Asthma + Lung UK
Balsall Heath CATS (Children Action Ream Support)
Batten Disease Family Association
Bone Cancer Research Trust
Bowel Research UK
BRACE Dementia Research
Brain Tumour Research
British Liver Trust
Cardiac Risk for the Young
Clarion Trust International
Crohn's & Colitis UK
Crohn's IN Child
Cystic Fibrosis Trust
Embrace The Middle East
Empathylab Communications
Encephalitis International
Epilepsy Research UK
ESPA Research
Genetic Alliance
Gordon Highlanders Association
Haemochromatosis UK
Lepra
Leukaemia UK
Margaret Pyke Trust
Medical Aid for Palestinians
Neuroblastoma UK
OCCA House Ltd
Oracle Head And Neck Cancer UK
Orchid Cancer
Pain Relief Foundation
PSP Association
Respected
Retina UK
Rosetrees Trust
Royal Trinity Hospice
Scoliosis Support and Research
Sheffield Teaching Hospital
Sight Research UK
Spinal Muscular Atrophy Trust (SMA Trust)
St Augustines Church
The Ataxia-Telangiectasia Society
The Cassel Hospital Charitable Trust
The David Nott Foundation
The Jessie May
The Macular Dis
The Marriage Foundation
The Sick Children
The Sussex Multiple Sclerosis Treatment Centre
Wellbeing of Women
Windrush Trust		 2025
£
-
25,000
20,000
30,000
-
-
-
80,000
-
-
-
-
10,000
-
-
200,000
5,000
-
10,000
-
-
-
35,000
10,000
20,000
-
20,000
55,000
20,000
10,000
-
-
-
-
15,000
-
700,000
75,000
25,000
60,000
-
-
10,000
-
-
15,000
10,000
50,000
40,000
25,000
10,000
-
10,000
1,595,000		 2024
£
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
25,000
25,000
200,000
5,000
2,000
10,000
10,000
60,000
20,000
35,000
20,000
20,000
10,000
10,000
20,000
20,000
20,000
10,000
15,000
10,000
150,000
30,000
25,000
60,000
15,000
10,000
10,000
30,000
20,000
15,000
10,000
-
38,000
-
10,000
10,000
10,000
1,305,000

13

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

5. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Governance costs 317,783
Support costs, included in the above, are as follows:

Governance costs

2025
Governance
costs
£
Trustees' fees
19,142
Trustees' expenses
1,200
Auditors' remuneration
8,611
Auditors' remuneration for non audit work
6,300
Exchange rate variance
7,470
Investment managers fees
273,832
Sundries
1,228
317,783		 2024
Total
activities
£
21,048
1,200
8,682
6,300
-
285,793
1,165
324,188

6.

NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration 2025
2024
£
£
8,611
8,682
Auditors' remuneration for non audit work 6,300
6,300

7. TRUSTEES' REMUNERATION AND BENEFITS

RPJ Price was paid fees for administrative and company secretarial services for the period amounting to £19,142 (2024: £21,048). No remuneration or other benefits was paid to other trustees in the year.

Trustees' expenses

Trustees' expenses of £1,200 (2024: £1,200) were paid during the year in respect of registered office expenses.

Additional trustees' expenses of £1,384 (2024: £1,389) were paid during the year in respect of travelling and office expenses.

8. STAFF COSTS

The charity does not employ any staff.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Investment income
EXPENDITURE ON
Charitable activities
Donations
Governance costs
Total		 Unrestricted
fund
£
954,664
1,305,000
324,188
1,629,188

14

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
10.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 September 2024
Additions
Disposals
Revaluations
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 Unrestricted
fund
£
3,848,388
3,173,864
37,522,655
40,696,519
Listed
investments
£
39,926,408
25,218,528
(26,309,505)
2,473,058
41,308,489
41,308,489
39,926,408

There were no investment assets outside the UK.

The cost of fixed asset investments held at 31 August 2025 is £33,554,144 (2024: £29,489,435).

All of the above listed investments are held within the UK. Cash deposits of £275,129 (2024: £168,850) were held as part of the investment portfolio which is included within cash at bank and in hand. The portfolio comprised the following material holdings:

Material holdings over 5% of the portfolio value

2025 2024
Schroders Charity Multi Assets Fund 22% 22%
Fidelity Investments Global Special Situations 26% 32%
Fidelity Multi Assets Income Fund 0% 18%
FF ABS RTS MLT I GUS 12% 0%
FF-ABSLT GL EQ I AC GBP H 13% 0%
Blackrock Diversified Growth Fund 0% 17%
Blackrock Global Income Fund 0% 11%
Killik & Co 27% 0%

15

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
823,398
TOTAL FUNDS
823,398
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are
Incoming
resources
£
Unrestricted funds
General fund
954,664
TOTAL FUNDS
954,664
a		 At 1.9.24
£
40,696,519
40,696,519
Resources
expended
£
(1,912,783)
(1,912,783)
At 1.9.23
£
37,522,655
37,522,655
s follows:
Resources
expended
£
(1,629,188)
(1,629,188)		 2025
£
18,499
342,322
360,821
2025
£
99,718
Net
movement
in funds
£
1,315,161
1,315,161
Gains and
losses
£
2,404,546
2,404,546
Net
movement
in funds
£
3,173,864
3,173,864
Gains and
losses
£
3,848,388
3,848,388		 2024
£
38,499
341,961
380,460
2024
£
88,817
At
31.8.25
£
42,011,680
42,011,680
Movement
in funds
£
1,315,161
1,315,161
At
31.8.24
£
40,696,519
40,696,519
Movement
in funds
£
3,173,864
3,173,864

16

continued...

Robert Luff Foundation Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2025

14. RELATED PARTY DISCLOSURES

All the directors of the company are also directors of Beryl Evetts And Robert Luff Animal Welfare Trust Limited (BERLAWT).

At the year end, there was an amount of £18,499 (2024: £18,499) due from BERLAWT.

15. CONTINGENCIES

The company is limited by guarantee and, in the event of a winding-up, the liability of its members is limited to an amount not exceeding £10 per member.

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Robert Luff Foundation Limited

Detailed Statement of Financial Activities for the Year Ended 31 August 2025

INCOME AND ENDOWMENTS
Investment income
Income from listed investments
Investment managers fees rebate
Deposit account interest
Compensation
Total incoming resources
EXPENDITURE
Charitable activities
Donations
Support costs
Governance costs
Trustees' fees
Trustees' expenses
Auditors' remuneration
Auditors' remuneration for non audit work
Exchange rate variance
Investment managers fees
Sundries
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net expenditure		 2025
£
767,850
47,489
7,759
300
823,398
823,398
1,595,000
19,142
1,200
8,611
6,300
7,470
273,832
1,228
317,783
1,912,783
(1,089,385)
170,141
(919,244)		 2024
£
878,233
56,703
19,728
-
954,664
954,664
1,305,000
21,048
1,200
8,682
6,300
-
285,793
1,165
324,188
1,629,188
(674,524)
90,657
(583,867)

This page does not form part of the statutory financial statements

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