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|---|---|
|LegalandAdministrativeInformation|1|
|Trustees'Report|2-4|
|IndependentAuditors'ReportandOpinion|5-8|
|StatementofFinancialActivities|9|
|BalanceSheet|10|
|StatementofCashFlows|11|
|NotesformingpartoftheFinancialStatements|12-19|





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||Note|UnrestrictedFund|UnrestrictedFund|2025|2024|
|---|---|---|---|---|---|
|||Endowment|Income|Total|Total|
|||Fund|Fund|||
|||£|£|£|£|
|Income||||||
|Investments||||||
|Incomefrom.UKgovernmentsecurities|||32,049|32,049|18,348|
|IncomefromUKfixedintereststocks||-|65,806|65,806|62,712|
|Incomefromoverseasbonds|||12,497|12,497|7,424|
|DividendsfromUKequities|||341,851|341,851|346,159|
|Dividendsfromoverseasequities|||76,161|76,161|91,056|
|Incomefromglobalinvestments|||135|135|9,011|
|Incomefrompropertystocks||-|18,594|18,594|18,036|
|Incomefromprivateequitystocks||-|2,153|2,153|5,097|
|Bankdepositinterest|||4,427|4,427|7,074|
|Totalincome|||553,673|553,673|564,917|
|Expenditure||||||
|Raisingfunds:||||||
|Investmentmanagementcosts||(75,565)||(75,565)|(72,210)|
|Charitableactivities:||||||
|Distributionstocharitablebodies||||||
|Grants|12|-|(511,000)|(511,000)|(537,000)|
|Supportcosts||||||
|Accountancycharges||-|(29,640)|(29,640)|(24,396)|
|Auditfees||-|(7,140)|(7,140)|(6,600)|
|Legalcharges||-|(1,170)|(1,170)|-|
|Bankcharges|||(76)|(76)|(76)|
|Totalexpenditure||(75,565)|(549,026)|(624,591)|(640,282)|
|Netexpenditurebeforegainsand||||||
|lossesoninvestment||(75,565)|4,647|(70,918)|(75,365)|
|Netgains/(losses)oninvestments|5|332,448||332,448|652,960|
|Netincomeaftergainsoninvestments||256,883|4,647|261,530|577,595|
|Netmovementinfunds||256,883|4,647|261,530|577,595|
|Reconciliationoffunds||||||
|Totalfundsbroughtforwardat1April|9|17,097,856|162,278|17,260,134|16,682,539|
|Totalfundscarriedforwardat31March|9|17,354,739|166,925|17,521,664|17,260,134|





||Note|2025|2024|
|---|---|---|---|
|||Total|Total|
|||£|£|
|FixedAssets||||
|Investments|5|17,315,075|17,057,317|
|CurrentAssets||||
|Debtors|6|75,744|69,168|
|Cashatbankandinhand||648,881|677,205|
|||724,625|746,373|
|Creditors-amountsfallingduewithinoneyear|7|(518,036)|(543,556)|
|Netcurrentassets||206,589|202,817|
|TotalNetAssets||17,521,664|17,260,134|
|Thefundsofthecharity:||||
|UnrestrictedFunds:||||
|EndowmentFund|9|17,354,739|17,097,856|
|IncomeFund|9|166,925|162,278|
|||17,521,664|17,260,134|



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||Note|2025|2024|
|---|---|---|---|
|||Total|Total|
|||£|£|
|Operatingactivities:||||
|Netcashusedinoperatingactivities|13|(581,122)|(70,099)|
|Investingactivities:||||
|Dividendsandinterestfrominvestments||552,798|564,669|
|Netcashfrominvestingactivities||552,798|564,669|
|Changeincashandcashequivalentsinthereporting||||
|period||(28,324)|494,570|
|Cashandcashequivalentsat1April||677,205|182,635|
|Cashandcashequivalentsat31March|14|648,881|677,205|
|Relatingto:-||||
|Bankbalancesincludedin"cashatbankandinhand"||648,881|677,205|
|||648,881|677,205|





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|2|Auditor'sremuneration|2025||2024|
|---|---|---|---|---|
|||£||£|
||Feespaidtothecharity'sauditorsduringtheyearwereasfollows:||||
||Statutoryauditfees||7,140|6,600|



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|FixedAssetInvestments-ManagedFunds||
|---|---|
||Total|
||2025|
|Fairvalue||
|At1April|16,852,025|
|Additionsatcost|3,873,555|
|Disposalsatcarryingvalue|(3,883,810)|
|Netgainonrevaluation|332,448|
||17,174,218|
|Cashheldoninvestment|140,857|
|At31March|17,315,075|



|Listedsecuritiescomprise:|2025|2024|
|---|---|---|
||£|£|
|UKgovernmentsecurities|870,646|714,502|
|UKfixedintereststocks|670,559|1,269,995|
|Overseasbonds|1,173,449|319,798|
|UKequities|8,872,313|8,539,352|
|Overseasequities|4,419,828|4,659,242|
|Globalinvestments|478,891|565,193|
|Property|328,297|347,892|
|Privateequity|360,235|436,051|
||17,174,218|16,852,025|





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|6|Debtors||2025|2024|
|---|---|---|---|---|
||||£||
||Accruedincome||75,744|69,168|
||||75,744|69,168|
|7|Creditors-amountsfallingduewithinoneyear||2025|2024|
||||£|£|
||Accruals||21,036|20,556|
||Grantspayable||497,000|523,000|
||||518,036|543,556|
|8|Analysisofnetassetsbetweenfunds||||
|||Endowment|Income|Total|
|||fund|fund||
|||`£`|`£`|£|
||Fixedassetinvestments|17,315,075||17,315,075|
||Currentassets|39,664|684,961|724,625|
||Creditors-amountsfallingduewithinoneyear||(518,036)|(518,036)|
||Netassetsat31March2025|17,354,739|166,925|17,521,664|
||Comparativeanalysisofnetassetsbetweenfunds||||
|||Endowment|Income|Total|
|||fund|fund||
|||`£`|`£`||
||Fixedassetinvestments|17,057,317|-|17,057,317|
||Currentassets|40,539|705,834|746,373|
||Creditors-amountsfallingduewithinoneyear|-|(543,556)|(543,556)|
||Netassetsat31March2024|17,097,856|162,278|17,260,134|





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|Movementinfunds||||||
|---|---|---|---|---|---|
||1April2024|Income|Expenditure|Othergains|31March2025|
||£||£|||
|Endowmentfund|17,097,856||(75,565)|332,448|17,354,739|
|Incomefund|162,278|553,673|(549,026)||166,925|
||17,260,134|553,673|(624,591)|332,448|17,521,664|
|Comparativemovementinfunds||||||
||1April2023|Income|Expenditure|Othergains|31March2024|
||£||£||£|
|Endowmentfund|16,517,106||(72,210)|652,960|17,097,856|
|Incomefund|165,433|564,917|(568,072)||162,278|
||16,682,539|564,917|(640,282)|652,960|17,260,134|



|10|Comparativeinformationfortotalfunds|2024|2024|2024|
|---|---|---|---|---|
|||Endowment|Income|Total|
|||`£`|`£`|£|
||Incomefrominvestments||564,917|564,917|
||Expenditureonraisingfunds|(72,210)||(72,210)|
||Expenditureoncharitableactivities||(568,072)|(568,072)|
||Gainoninvestments|652,960||652,960|
||Netmovementinfunds|580,750|(3,155)|577,595|



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|Grants|||
|---|---|---|
||2025|2024|
||£|£|
|Baniardo's|15,000|15,000|
|RoyalTrinityHospice|15,000|15,000|
|TrinityLabanConservatoireofMusicandDance|14,000|28,000|
|ArtFund(previouslyNationalArtCollectionsFund)|12,000|12,000|
|TheChildren'sSociety|12,000|12,000|
|FriendsoftheElderly|12,000|12,000|
|HelpMusiciansUK|12,000|12,000|
|MacmillanCancerSupport|12,000|12,000|
|MarieCurieCancerCare|12,000|12,000|
|NationalYouthOrchestraofGreatBritain|12,000|12,000|
|QueenElizabeth'sFoundation|12,000|12,000|
|SaintNtungo's|12,000|12,000|
|SalvationArmyTrust|-|12,000|
|Scope|12,000|12,000|
|StrokeAssociation|12,000|12,000|
|TheHepworthWakefield|10,000|10,000|
|StWilfredsHospiceEastbourne|10,000|10,000|
|AlzheimersResearchTrust|7,000|7,000|
|CaninePartnersforIndependence|7,000|7,000|
|CoramFamilySurvivalPackAppeal|7,000|7,000|
|Crusaid(TerrenceHigginsTrust)|7,000|7,000|
|ElizabethFinnTrust|7,000|7,000|
|EnhamTrust|7,000|7,000|
|FirstStory|7,000|7,000|
|GlyndebourneArtsTrust|7,000|7,000|
|GreaterLondonFundfortheBlind|7,000|7,000|
|HelenandDouglasHouse|7,000|7,000|
|Into-University|7,000||
|KingEdwardVIIHospitalSisterAgnes|7,000|7,000|
|L'Arche|7,000|7,000|
|LongfordTrust|7,000|7,000|
|MotorNeuroneDiseaseAssociation|7,000|7,000|
|NationalCouncilofYMCA|-|7,000|
|NationalSocietyforthePreventionofCrueltytoChildren|7,000|7,000|
|NationalTrust|7,000|7,000|
|NationalYouthChoirsofGreatBritain|7,000|7,000|
|RhythmStudioFoundation|7,000|7,000|
|SavetheChildrenFund|7,000|7,000|
|ShipstonHomeNursing|7,000|7,000|
|BalanceC/Fwd|343,000|369,000|





|12|Grants(continued)|||
|---|---|---|---|
|||2025|2024|
|||£|£|
||BalanceB/Fwd|343,000|376,000|
||SouthernThailandElephantFoundation|7,000|7,000|
||StGilesTrust|7,000|7,000|
||ToynbeeHall|7,000|7,000|
||Zane|7,000|7,000|
||AbilityNet|5,000|5,000|
||AllSaintsChoirandMusicTrustFund|5,000|5,000|
||AllSaintsMargaretStreet|5,000|5,000|
||Centrepoint(Soho)|5,000|5,000|
||CollegeofStBarnabas|5,000|5,000|
||Greenwich,Deptford&RotherhitheSeaCadetUnit||5,000|
||HollandParkOpera|5,000|5,000|
||HomeStartUK|5,000|5,000|
||HospiceCareKenya|5,000|5,000|
||IndependentAge|5,000|5,000|
||InternationalTreeFoundation|5,000|-|
||LongboroughFestivalOpera|5,000|5,000|
||MildmayHospital|5,000|5,000|
||MultipleSclerosisNationalTherapyCentres|5,000|5,000|
||PCCCherington|5,000|5,000|
||PracticalAction|5,000|5,000|
||RoyalCollegeofMusic|5,000|5,000|
||StJoseph'sPastoralCentre|5,000|5,000|
||StLuke'sSchoolTrust|5,000|-|
||TheGameandWildlifeConservation.Trust|5,000|5,000|
||WallaceCollection||5,000|
||WWF(UK)|5,000|5,000|
||BarnOwlTrust|4,000|4,000|
||BatterseaSummerScheme|4,000|4,000|
||BenslowMusicTrustInstrumentLoanScheme|4,000|4,000|
||BritishWheelchairSportsFoundation|4,000|4,000|
||ChaseleyTrust|4,000|4,000|
||FriendsofEastbourneHospitals|4,000|4,000|
||KoestlerTrust|4,000|4,000|
||RedSquirrelSurvivalTrust|4,000|4,000|
||SirJohnSoane'sMuseum|4,000|4,000|
||SongbirdSurvival|4,000|4,000|
|||511,000|544,000|





|13|Reconciliationofnetmovementinfundstonetcash|usedin||||
|---|---|---|---|---|---|
||operations|||2025|2024|
|||||£|£|
||Netmovementinfundsfortheyear|||261,530|577,595|
||Adjustmentsfor:|||||
||Gainsoninvestments|||(332,448)|(652,960)|
||Dividendsandinterestfrominvestments|||(553,673)|(564,917)|
||Investmentmanagerfees|||75,565|72,210|
||Decrease/(increase)indebtors|||(6,576)|(21,765)|
||(Decrease)/increaseincreditors|||(25,520)|519,738|
||Netcashusedinoperatingactivities|||(581,122)|(70,099)|
|14|Analysisofchangesinnetdebt|At1|April|Cashflows|At31March|
||||2024||2025|
||||`£`|<br>`£`|`£`|
||Fundbalancesat31March2025asrepresentedby:|||||
||Cashatbankandinhand|677,205||(28,324)|648,881|



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