SIR ROBERT SPEED CHARITABLE TRUST TRUSTEE'S REPORT AND INDEPENDENTLY EXAMINED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 CHARITY COMMISSION FOR ENGLAND AND WALES NUMBER 281440 SIR ROBERT SPEED CHARITABLE TRUST FOR THEYEAR ENDED 30 JUNE 2026 TENT F TRUST ACC Page Trustee's Annual Report 14 ndeFendent Examiner's Report ststement of Financial Activities Balance Sheet S¢hedul8s of Investments 8-10 Notes to the Accounts 11-12 IR ROBERT SPEED CHARITABLE TRUST FOR THE YEAR ENDED 30 NE 2025 TRUSTEE'S ANNUAL REPORT Ref•rence and admlnislration Infomiatlon Charity nam•: Sir Robert Speed Charitable Tiust Charity roglstratlon number: Chanty Commission for England and Wales 281440 Trusiee and Admlnlslmtor: Apex Corporate Trustees (UK} Limited 4th Floor, 140 Aldersgate London EC1A 4HY Chalrman to the CounGil: T M Powell 34 Gorst Road London SW116JE Inv•slment Manager: Canaccord Genuity 9th Floor 88 Wood Street London. EC2V 7QR Bankors: Lloyds Bank PIC PO Box 72 Bailey Drive Gillingham Business Park Kent, ME8 OLS Page 1 SIR ROBERT SPEED CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2025 TRUSTEE'S ANNUAL REPORT CONTINUED The Trustee prasents ils report and financial Statements for the year ended 30 June 2025. Structure governarbce, objectives and management Sir Robert Spééd Charitable Trust was set up by deed dated 15 September 1980 by Sir Robert Speed CB QC. The Trust up to November 2020 w88 divkI8d into Ih¥o parts, the first being the ori3inal Fund Ythi¢h is held by the Trustee, upon trust to apply the same (at the direction of Ihe Co(Jncil) 8ilh&r as capital or income for the purpose of providing recreational facilities for the physical education 8nd development of persons who are from time lo time Resident Junior Mèmbers of the Univ&rsitte$ of Oxford and Cambridge. No part of the whol8 of the Trust fund need be retained or shall be trealed as a pemianent endowment, so that Ihe ￿ole of tha Trust fund. wheth•r Capital or income, may at th• discretion of the Council, be expended on the objects of the Trust. The second part is the Lad￿6 Fund which was set up following receipt in Febn￿ry 2007 of a personal gift from Mr David Gilchrist of 50,000 shares in Kiln Gioup Plc. This fund and the income therefrom are kept separate from the other Charty investments, so Ihat the income can be used to assi51 wth the running and coaching costs for th& Oxford and Cambridge UnNersty Ladies Golf Clubs. During the year £3.50012024'. £3,500) vms paid wt to 1he Ladies Golf Clubs from the ie$ Fund. In November 2020. The Council decidad to set up a new Fund ' Dr￿ts/stymles Fund ' lo help second team golf at the Universrlies. Money paid into the Fund can only be distributed to Ihose teams. During the year £4,000 12024: £3,500) was paid out to the Divots and Stymies from the Divotslstymies Fund. Risk Managemènt The Trustee ha$ considered the major rlsks to ￿lCh the Trusl 1$ exposed and has reviewed th058 rSsk$ and established systems and procedures to manage Iho$e risks. The Trustee considers the variability of investment returns on the expendable endowmenl to constitute the Charity's main risk. The Trust•& and Council have conlra¢ted the services of Can8ccord Genuty, the investment manager, to provSde serwces and advice on investments. The Trustee and Council consider that the investment advice receNed from Canaccord Genuity wlll help grow the resources avaik3ble for generating income and capitsl growth so a$ to achieve the Charty's objectives. The varTrability of the donations i% also a rfgk and the Councll monitors all donations. Page 2 SIR ROBERT SPEED CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2025 TRUSTEE'S ANNUAL REPORT CONTINUED Investments In accordance with the provisions of the Trust Deed, the control and management of the Trusfs funds is vested in the Council, who. in consultation with the Trust's Investment Manager, decide the investment policies to be followed. The Trusvs investment policy was changed in the 2021 accounting year. The Trust now invests in a maximum of 8 ¢olle¢live fundslinveslment trusts and no one fund should ordinarily exceed 30% of the overall value of the investment portfolio. Separate investment reports are made by the Investment Manager direct to the Council and ac¢ordiNJly no further comment is approprkqte in this reporL wth the ex￿ption of ¢omparing the value of the Funds wtth the values as at 30 June 2024. The dunng the period £40,000 was transferred from Ihe Trustee's bank account for reinvestment in the Original fund held wth the Investment Manager. The investrnents held as at 30 June 2025 had a value of £776,467. Adding lo this figure the cash in hand and debtors and deduclirYJ the creditors gives a totsl net value for the fund of £850,141 which compares with a value at 30 June 2024 of £843.543. This represents a increase in value of £6,598 or 0.78%. The Council has reviewed the perfom)ance of the investments since year end and has concluded that the mid to long term investment Strategy adopted is approprk4te for the TTUSI. Flnanclal Rovlow 2025 £ 35,764 £ 15.332 2024 £ 36,064 £ 34,915 Donations subject to Glft Aid other Donations During the period 7 (2024.. 131 new Gift Aid fomis were r￿1Ved totalling £8CN) {2024: £1.040) incI￿1n9 one off payments. £59.933 {2024'. £57,187) of the Trust income was distributed to the Oxford and Cambridge University Golf Clu1% to Cover expenses incurred during Ihe year and a conlritrArtion to the goll coaching costs of Resident Junior Members. Reserves Policy The appropriate level of financial reserves is ¢onsKlered each year by the Council. Reserves comprise unrestricted general and endownEnl fijnds, and restricted general and endowment funds which are only available for the Universities. Ladies teams and the Universities, second teams. Whilst the Trust Deeds slate that no part of the Trust property shall be treated as a permanent endowment so that the Who￿ of the Trust fund, whether capital or income, may I expended on the objects of the Tnjst, the Council adopts a long-term plan in generating sufficient funds to support future generations of University go￿erS. The Council Wk8hes to generate gufficient endowment funds (defined as significant one-off donations intended by the donor for permanent invesbnent and not current spend) to support the Charltys objectives. Page 3 SIR ROBERT SPEED CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2025 TRUSTEE'S ANNUAL REPORT CONTINUED Res•rves Pollcy (contlnued) The Councll expect$ Ihe Trust to hold. under normal circumstances, not more than £50,000 of nr8strKted general funds at year end, to allow for Significant fluctuations In In￿rne and expenditure and the potentval need for a major grant to one or other University for a onevoff purpose. At the year end, unrestricted general funds were £32.696 {2024- £32.619)- Taxation A provision foi income tax re¢overable has be8n made 8$ shown. A claim for refund of this tax in resFÉd of Gtft Aid has been submitted lo HMRC. Trustse Charying Clause The Trustee has [￿[ lo charge fees under the teTms of Ihe Trust deed in accordan￿ with its published fee scale. The fee ch8rged 18 shown on page 12. Apex Corporate Trustees IUKI Limited Authorised S￿natory Date 5, ftÉth 2026 Page 4 Independent examlnerfs reptyt to the trustees of the Slr Robert Speed Charitable Trust I report to the charlty trustees on my exèmlnation of the accounts of the Sir Robert Speed Charitable Trust for the year ended 30 June 2025 which a￿ set out on pages I to 12. Respon51bilities and ba￿$ of report As the charity trustees of the Trnst you are responsible for the preparatlon of the accounts in accordante wtth the requirements of the Charities Art 20111'the Act'l- l ￿port In respect of my examlnatlon of the Trust's accounts carried out un(ler sertion 145 of the 2011 Act and in carrying out my examination I have followed all the applkable Directions given bv the Charity Commission under section 14515llbl of the Act. Independent examinerf$ statement I have completed my examination. I confirm that no material matters have come to my attentlon in cOnneCt￿n with the examlnation giving me cause to believe that in any material respect: l. accountin8 wecords were not kept In respert of the Trust as required by sertion 130 of the Act; or,. 2. the accounts do not accord with those records. 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 reathed. Slgned- Name: AlexanderGems Relevant professlonal qu8lrfication or body.. ICAEW Chartere(l Accountant Addre55: 12 Spen￿r Road, Raynes Parl London, SW20 (JIP Date: 27 February 2026 Iy4-.If{gi{{8 Ly Ly V *- oou *Tr- 2 Èl Ba .kbLLLbblll SIR ROBERT SPEEO CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE ACCOUNTS 1. Aeeoub)Ung pollcleg 1.1 Bas15 of ar£ounting The acuunts have been prgpored ¢)n tho hi%wrkal cost b88kn a5 rnodifi•d by the revaluat￿ of fftstn￿nts. 1.2 Natuyeand purpose of lunds Endo*Tnent funds are unr¢strthd and restfi¢thd fund$ thatare hohl fort￿ beneffl of the charty 85 Cathl fvTrJs. Unresldcted fijnds are availab￿ for u88 at the d18crt￿n ol ts Tru8tse in furtheranee oltho ottsdNes of Ihp Chartyand wh￿h have nol been deslgnated for olh•r purpo￿& Unrestrlcaed funds ¢oftN)w gen8r81 funds and endowTnent funds. Restricled fvnds a￿ thoso which are to be used in a￿￿rdance wth the ￿tr￿tionS of thB donors ond o)mpris¢ the Ladies Fund and the DlvotslslyTh￿ Fund. Restrrted funds eorrorise 98twal and endth¥ment funds. 1.3 Invo5tments Invèstrrnnis ar* $1oted at fair Nwrk•t valuE with gains 8TrJ kjsses tein9 recognbed TrAith•i Net in¢￿1&Xpend￿ure. 2. Gow CoachlrvJ CoBts Oxlord UnN•rsfty &)If club IOUGCI Carnbr*e Universty Golf Clth ICUGCI 4.200 4,973 9.173 Oxford Unwersity Ladi88 Golf Club IOULGCI C8rnbr¥Jg8 Univer$ty Ladles Goff Club ICULGCI 700 660 3. Flx•d a¥8ot Investme Quoted Investh*nts Market Vduè at 1 July 2024 737,391 A¢dMkJrts atC05t 329,198 DisposaL% at ¢8rryir#J value (294,487) Net Inveslrn•rbt gains 4,365 Mathetvalue ot 30 Jun¢ 2￿25 77 ,467 Historical Cost 8s at 30 June 2025 753,168 Thg during th• period É40,OOOwa5 transferwed from the Trustee's bank Attount for weinvestrnentwth thè Invostnwnt Manager. - OJ r* Tr-