The Richard Davies Charitable Foundation Charity Registration No. 279380
Trustees' report and unaudited accounts For the year ended 30 November 2025
The Richard Davies Charitable Foundation
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 3 |
| Statement of trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of fnancial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 - 10 |
The Richard Davies Charitable Foundation
Legal and administrative information
The Foundation was established by Deed of Trust on 30 November 1979 and registered with the Charity Commissioners, number 279380 in March 1980.
Trustees
Janet M Coles Malcolm R Coles Kim L Coles Clare L Worsfold
Date of Foundation 30 November 1979 Charity Number 279380 Principal Address 76 Wollaton Road Ferndown Dorset BH22 8QY
Accountants
Independent Examiner
Banker
Investment Manager
S&W Partners LLP Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SP1 1BG Simon Ellingham FCA Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR Natwest Bank plc 250 Bishopsgate London EC2M 4AA Evelyn Partners Investment Management LLP 111 Victoria Street Bristol BS1 6AX
The object of the Foundation is to apply its income to general charitable purposes, at the discretion of the trustees. The trustees have determined that the benefit of their giving shall be applied principally in the Bristol area but have placed no restrictions on its purposes.
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The Richard Davies Charitable Foundation
Trustees' report for the year ended 30 November 2025
The trustees present their report and accounts for the year ended 30 November 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing document is the original settlement deed dated 30 November 1979 and amended and restated deeds dated 18 April 2008 and 14 May 2023.
Trustees
The trustees who served during the year were: Janet M Coles Malcolm R Coles Kim L Coles Clare L Worsfold
On the deaths of Richard and Kathleen Davies, the power of appointment and removal has been vested in Janet Coles during her lifetime and thereafter to such of her children as she shall designate. Thereafter power shall continue to pass in each generation.
The appointers shall ensure that there are no fewer than three trustees.
Risk management
The trustees have assessed the major risks to which the Foundation is exposed, in particular those related to the return on investments, and are satisfied that systems are in place to mitigate their exposure to major risks.
Related parties
There are no related parties.
Permanent endowment and fund structures policy
The permanent endowment represents the capital value of the assets originally used to set up the Foundation and it is intended that these funds are to remain invested and only the income is available to be paid or applied to or for such charitable objects or purposes as the trustees think fit.
The assets representing the permanent endowment consists of quoted investments with a market value of £1,364,880 (2024 £1,317,864) and cash of £25,460 (2024 £992). The assets representing the unrestricted funds is cash of £23,083 (2024 £31,052) and accrued income of £1,392 (2024: £nil).
Unrestricted fund
The trustees apply the unrestricted fund for the general purposes of the Foundation as set out in the governing document.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Foundation is to apply its income to general charitable purposes, at the discretion of the trustees. The trustees have determined that the benefit of their giving shall be applied principally in the Bristol area but have placed no restrictions on its purposes.
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The Richard Davies Charitable Foundation
Trustees' report for the year ended 30 November 2025
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives and setting its grantmaking policies. The trustees regularly receive donation requests which are considered periodically throughout the year.
FINANCIAL REVIEW
Grantmaking
The Statement of Financial Activities is set out on page 6. During the year the trustees made grants and donations totalling £35,509 (2024 £45,305) as detailed in note 2. The trustees' aim is to make donations of at least 70% of income each year (in real terms) subject to market conditions and without taking unacceptable risk.
Reserves policy
The trustees believe that the reserves are sufficient for current purposes and these are reviewed on a regular basis.
Investment powers and policy
There are no restrictions on the trustees' powers to invest. The trustees have delegated under section 11 of the Trustee Act 2000 full discretionary powers to the Investment Managers. Their policy is to seek to maximise total return, whilst maintaining the real value of the portfolio and not subjecting it to undue risk. The trustees review the Investment Managers at their meetings, and their policy at least annually.
On behalf of the board of trustees
Malcolm Coles
Malcolm Coles (Jul 1, 2026 14:15:50 GMT+1)
........................................
Malcolm R Coles
Trustee
01/07/2026 Dated: ........................................
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The Richard Davies Charitable Foundation
Statement of trustees' responsibilities
The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Foundation and of the income resources and application of resources of the Foundation for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The Richard Davies Charitable Foundation
Independent examiner's report to the trustees of the Richard Davies Charitable Foundation
I report to the trustees on my examination of the accounts of the Richard Davies Charitable Foundation for the year ended 30 November 2025 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant accounting policies.
Respective responsibilities of trustees and examiner and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
..............................................
Simon Ellingham FCA
Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR
Dated:
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The Richard Davies Charitable Foundation
Statement of financial activities for the year ended 30 November 2025
| Unrestricted Permanent Funds Endowment Notes Page £ £ Income Investment income 29,192 - Total income 29,192 - Expenditure Costs of generating funds Investment management fees - (8,049) LEI fee - (72) Administration expenses - (40) Charitable expenditure Grants payable 2 (35,509) - Governance costs Accountancy fees (1,083) (1,082) Independent examiner's fees (605) (605) Total expenditure (37,197) (9,848) Gains on investment assets 5 - 82,618 Net movement in funds before transfers (8,005) 72,770 Net transfers between funds 1,357 (1,357) Net movement in funds (6,648) 71,413 Fund balances at 1 December 2024 29,448 1,317,252 Fund balances at 30 November 2025 7 22,800 1,388,665 |
Total 2025 £ 29,192 29,192 (8,049) (72) (40) (35,509) (2,165) (1,210) (47,045) 82,618 64,765 - 64,765 1,346,700 1,411,465 |
Total 2024 £ 37,099 37,099 (11,042) (72) - (45,305) (2,125) (1,140) (59,684) 126,852 104,267 - 104,267 1,242,433 1,346,700 |
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The Richard Davies Charitable Foundation
Balance sheet as at 30 November 2025
| Unrestricted Permanent Total Funds Endowment 2025 Notes £ £ £ Fixed assets Investments 5 - 1,364,880 1,364,880 Current assets Cash at bank and in hand 23,083 25,460 48,543 Accrued income 1,392 - 1,392 24,475 25,460 49,935 Liabilities Creditors: amounts falling due within one year 6 (1,675) (1,675) (3,350) Net current assets 22,800 23,785 46,585 Total assets less current liabilities 22,800 1,388,665 1,411,465 Represented by Unrestricted Funds 22,800 Permanent Endowment 1,388,665 1,411,465 01/07/2026 |
Total 2024 £ 1,317,864 32,044 - 32,044 (3,208) 28,836 1,346,700 29,448 1,317,252 1,346,700 |
|---|---|
The accounts were approved by the trustees and authorised for issue on ................................... and were signed on their behalf by:
Malcolm Coles
Malcolm Coles (Jul 1, 2026 14:15:50 GMT+1)
..............................
Malcolm R Coles
Trustee
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The Richard Davies Charitable Foundation
Notes to the accounts for the year ended 30 November 2025
1 Accounting policies
1.1 General information
The Richard Davies Charitable Foundation is an unincorporated trust, registered with the Charity Commission in England & Wales (No. 279380). The address of the registered office is 76 Wollaton Road, Ferndown, Dorset, BH22 8QY.
1.2 Basis of preparation
These accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS102.
1.3 Fund accounting
The funds held are the unrestricted funds and the permanent endowment funds. The permanent endowment funds represent the capital value of the assets originally used to set up the Foundation. It is intended that these funds are to remain invested and only the income is available to be paid or applied to or for such charitable objects or purposes as the trustees think fit. The remaining net assets are held in the unrestricted fund.
1.4 Incoming resources
Income is recognised in the period in which the trust is entitled to receipt and the amount can be measured with reasonable certainty.
Investment income is accounted for on its receipt and is shown net of any tax deduction.
1.5 Resources expended
Grants made are accounted for when the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant. Other expenditure is recognised when incurred.
Where an item of expenditure falls directly within one cost category, it is attributed to that category only. Where expenditure involves more than one category it is apportioned on a reasonable and justifiable basis.
1.6 Investments
Investments are shown at their market value at the balance sheet date. All investments held are quoted on a recognised stock exchange.
Realised and unrealised gains and losses on investments are included in the statement of financial activities in the period in which they arise.
1.7 Financial instruments
The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like debtors and creditors.
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The Richard Davies Charitable Foundation
Notes to the accounts for the year ended 30 November 2025
2 Grants payable
The following grants and donations were made during the year.
| Allendale Community Centre Artsreach Autism Unlimited (Portfeld School) Blind Veterans UK Cerebral Palsy Plus Country Men UK Diverse Abilities Dorset Blind Association Dorset Children's Foundation Education Development Trust Empire Fighting Chance Frampton Cotterell Rugby Football Club Friends of Dolphin Gorsemoor Cub/Scout Group Great Western Air Ambulance Hope Housing, Training and Support Limited London Youth Rowing Marmalade Trust Mission Christmas Mosaic Poole Sailability Powerstock Hut Read for Good ReMap Royal Voluntary Service Shirehampton CA Forum Sight Support SOFA Project Stable Family Home Trust St Chad's Patchway School Swim Bournemouth The Blackmore Vale Charity Thomas Hardy School Western Downland Primary School Young and Free Grants below £100 |
2025 £ 500 2,000 - 2,000 - - - 2,000 3,000 - 1,000 1,000 2,000 - - 3,000 (1,500) 2,000 - - 2,000 2,000 - 500 2,000 2,000 - 2,000 - 9 - 3,000 3,000 - 2,000 - 35,509 |
2024 £ - - 3,000 - 2,000 2,000 2,000 - - 2,600 - - - (1,000) 5,000 3,000 1,500 2,000 106 2,000 - - 2,000 5,000 - 4,000 2,000 2,000 2,000 491 1,594 - - 2,000 - 14 45,305 |
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3 Trustee remuneration
The trustees do not receive remuneration from the charity.
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The Richard Davies Charitable Foundation
Notes to the accounts for the year ended 30 November 2025
4 Employees
There were no employees during the year (2024 - none).
| 5 Investments Quoted investments Market value at 1 December 2024 Acquisitions at cost Sale proceeds from disposals Gains on investment assets Market value at 30 November 2025 Investments at market value comprised: Investments within the UK Investments outside the UK Historic cost carried forward |
2025 £ 1,317,864 280,246 (315,848) 82,618 1,364,880 588,996 775,884 1,364,880 1,029,646 |
2024 £ 1,201,870 243,629 (254,487) 126,852 |
|---|---|---|
| 1,317,864 | ||
| 681,900 635,964 |
||
| 1,317,864 | ||
| 1,002,026 |
The above investments comprise fixed interest securities and equities. There were no investments which individually represent in excess of 5% of the total market value at the year ended 30 November 2025.
The investment gains in the Statement of financial activities include unrealised gains of £19,407 (2024: £129,035) and realised gains of £63,211 (2024: losses of £2,183).
| 6 Creditors: amounts falling due within one year Accountancy fees Independent examiner's fees |
2025 £ 2,170 1,180 3,350 |
2024 £ 2,098 1,110 |
|---|---|---|
| 3,208 |
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