Charity number: 292126 THE PHILIP OPPENHEIMER FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025
THE PHILIP OPPENHEIMER FOUNDATION CONTENTS Page Raferance and administrative details of the Charity, its Trustees and advisers Trustees, report Ind8pènd•nt examinerfs report ststement of financlal actlvities Balance sheet Notes to the finaneial stat8mgnts 8-15
THE PHILIP OPPENHEIMER FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENOED 5 APRIL 202S The Philip Oppenheimer Foundation was set up by Sir P J Oppenheimer for charitable purposes by means of a Deed of Settlement dated 11 June 1985. Trustees AnlhDny Ern8st Oppènhéimer Antoinette Maria Oppenheimer Sophie Clare Lussier Charity registèred number 292126 Principal office Flat 3 7 Netherton Grove London SW10 9TQ Ac¢ountants James Cowper Kreston Chartered A¢¢ounlanls 2 Communications Road Greenham Business Park Greenhar Newbury 6erk5hire RG196AB Bankers Coulls & Co 440 Strand London WC2R OQS Solieitors Maclarlanes LLP 20 Cursilor Street London EC4A 1LT Page 1
THE PHILIP OPPENHEIMER FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustees present their annual report together wrth ihe financial slalemenls of the Charity for the year ènded S April 2025. Objectives and activStS9s a. Policles and objectives The Settlement Deed give5 the Trustees the power lo apply both the inc0e and capital lo such legally charitable purposes In the Uniled Kingdom or outside the United Ktngdom as the Trustees shall in their absolute discretion from limè to time think fil. The Trustees are requested to give consideration to The National Sociely for the Prevention of Cruety lo Children, the Jockey Club Charitable Trust, lh8 Bentinck B8n&volenl Fund, the RÈndlesh8m Benevolent Fund and the Beresford Trust.. this request in no way limits the powers confer on the Trustees. In setting objectives and planning lor activities. the Trustees hav& givèn due consideration to general guidance published by the Charity CommissK)n relatin9 to public benefrt, including the guidan 'Public benelil". running a chanty IPB21' Achievements and performan¢e a. Main achievements ofthe Charity This yèar the Trustees have made grants lotalling £80,000 lo thirteen charitable organisations 12024." twelve grants lolalling £51,0001. These have benefitted the public In a varEty of ways. from supporting medical research lo supportin9 animal welfare proje¢ls. Financial review . Summary The attached financial statements show the ¢urrenl slate of the fin¥nce5 of the Founotalion. During the year the ¢harily received donalK)ns of £nil12024. £nill. Investment income for the year amounted to £32.97812024'. £30,7331. Grants pledged during the year amounted lo £80,000 12024.. £51,000) as detaId In note 6. b. Going concern After making appropriate enquiries. the Trustees have a reasonable expeciation that the Charity has adequate resources lo continue in operational existence for the foreseeable futur8 For this reason. they conlinue lo adopt the going concern basis in preparing the financial statements Further details rardIng Ihe adoption ol the going concern basis can be found in Ihe accounting policies. c. Reserves policy Th@ Trusle&s wish lo re13in sufficient reserves lo continue the level of gfanl making made In recent years whilst also considering some larger projects. The Trustees ¢onsKler all funds, including the endowment funds, to ba unrestricted and that grants from thè capital fund would be made il a specific need arose. d. Investments policy The Truslees intend to re-invest the cash with Coulls & Co. The investment policy Is to have a balanc8d portfolio lo achieve a balanced return from income and capital with Mcerate 8xposure to risk. Pag& 2
THE PHILIP OPPENHEIMER FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2025 8. Risk managemènt policy The Tru51ees have reviewed the risks faced by th8 Foundation and have implemènt8d systems to milKJate Ihése risks. In particular, th6 Trusteès consider that the major risk is the value of the investments and the level of Investment income. To mitigate this th8 TrLJSteès are using thè sèrvices of a leading invèstment adviser. Coutts &Co. structure. governance and management a. Constitution The Philip Oppenheimer Foundation is a registered charity. number 292126, 8nd is consliluled under a Trust b. Mèthods of appolntment or election of Trustees The management ol the Charity is the responsibility of the Trustees who ar& elected and co-opted under the temis of the Trust deed. c. Organisational structure and decision.making polieies The Tru51ees meet regularly on an informal basis and have a formal meelirrfJ annualty. Material decisions and pgli¢ies, and the approval ol the Iruslees report and annual aOnIS are made by all Trustees Page 3
THE PHILIP OPPENHEIMER FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2025 Statement of Trustees. rosponsibiliti•s The Trustees are responsibl8 for prep8ring the Trustees, report and the financial slalements in accordance wrth appIable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The lav4 applicable lo charities in Engknd & Wales requires the Trustees lo prepare financial slalemenls for each financral which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources. including ils incomg and expénditurè. lor that period. In preparing these financial statements, the Trustèes are r4uirad lo". select suitable accounting polici&s and then apply them consistently., obSere the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prud8nt". stale whether applicable UK Accountin9 Standards IFRS 1021 have been followed. subject ID any materk41 dèpartures disclosed and explained In the financial statements". prepare the financial slalemenls on the going concern basis unless il Is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequale accounting records that are sutticienl lo show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure Ihal the Iinancial statemeT)ts comply with the Charities Act 2011. the Charity IAccounls and Reports} Regulations 2008 and the provisions ol the Trust deed. They are also responsible for safeguarding the asse15 01 the Charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other Irregukrities. Approved" order ol the members of the board of Trustees and signad on their b&hall by.. &.'IL4 Anth ny nest Oppenheimer ntoinette Maria Oppo heimer Dale. (1 I IC Dale. Iv-fl-zv hle Clare Lussier Datè. .1. 2 Page 4
THE PHILIP OPPENHEIMER FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2025 Indop8ndènt Examiner's Report to the Trustees of The Philip Oppenheimer Foundation I'the CharOty'I I r8POrt to the charrty Trustees on my examinath)n ol the accounts of the Charity for the year ended 5 April 2025. Responsibilities and 8asis ol Roport As the Trustees of the Charity you are responsible fly the preparation of the accounts in accordanc& with the requirements ol the Charities Act 2011 I'lhe 2011 Acl'l I report In respecl ol my examination ol the Charily's accounts carried out under section 145 of Ihe 2011 Act and In carrying oul my @xaminalion I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Ind•wndÈnt Examirtèrfs Ststemènt l understand that this has been done in order loi the accounts to provide a true and fair view In accordance wilh the Generally Accepted Accounling Praciice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention In connection wrth the èxamination giving me eause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by se¢tlDn 130 of the 2011 Act.. or the accounts do not accord with those records, or the accounts do not comply with the appltable requirements concerning the form and content of ounts set out in the Charities IAcGounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair. view which is not a matter considered as part ol an independent examination. I have no concerns and have come across no other matters in connection wlh the examination to which attentDn should be drawn in this report In order to enable a proper understanding of the accounts to be reached This report is made solely to the Charity's Trustees, as a body. in accordance with Part 4 01 the Charities (Accoun15 and Reports) Regulations 2008 My work has been undertaken so that I might stale lo the Charills Trustees those matters l am required lo slate lo them in an Independent examiner's report and lor no other purpose To the fullest exlenl peimrtted by law, I do not accept or assume iesponsibilily lo anyone other than the Charity and the Charity's Tnjslees as a body, for my work or for thi5 report. Signed.. Dated.. 22 September 2025 Fiona Hawkins Msc FCA charter Accountants 2 Communications Road Gieenham Businèss Park Greenham Newbury Berkshire RG19 6AB Page S
THE PHILIP OPPENHEIMER FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2026 Endowment Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Nol Income and Qndowmonts from.. Investments 32.978 32.978 30, 733 Total income and ondowments 32,978 32.978 30, 733 Expenditure on.. Inveslmenl management cosls Charrtable aciivities 7,114 7,114 86,217 6,446 57,431 86,217 Total expenditure 7,114 86,217 93,331 63,877 Net expenditure before net Ilossesllgains on investm8nts Net Ilossesllgains on Inveslments 7.1141 59.6561 153,2391 160,3531 {59,6561 (33, 144) 135,327 Net movement in funds 166.7701 153.2391 1120,0091 102, 183 Reconciliation of funds.. Total funds brought forward Nel movement in funds 1,302,874 166,7701 97,473 153,2391 1,400,347 1120,0091 1.298. 164 102. 183 Total funds carrbed forward 1,236,104 44,234 1,280,338 1,400, 347 The Statement of Financial Aclivrties includes all gains and losses recognised in the yeaf The notes on pages 8 10 1 S form part of these financial sialemenl5. Page 6
THE PHILIP OPPENHEIMER FOUNDATION BALANCE SHEET AS AT S APRIL 2025 2025 2024 Not¢ Fixed assfrts Investments 1,255,597 1.320.854 1,265,597 1.320.854 Current assèts Debtors Cash al bank and in hwd 29 85,404 30,711 30,711 85,433 Current liabilities Creditors.. amounts falling due within one year 5.9701 (5, 940) Net current assets 24,741 79,493 Total net assets 1.280,338 1, 400.347 Charity funds Endowment funds Unrestricted funds 12 1,236,104 44,234 1, 302.874 97,473 12 Total funds 1,280,338 1, 400,347 The financial statements were approved and authorised for issu8 by thé Trustees and signed on their behalf by. Anth est Oppenheimer ntoinette Maria Op nheimer O?le. t)11 Dale. /&- 7- 2.£r Sop be Clare Lussier Dale. 10.9.2< The notes on pages 8 10 IS form part ol these linanckgl slalements. Pag8 7
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 202S Gèneral inforniation The Philip Oppenheimer Foundation is a rister8d ¢h8rrty in England 8nd Wale5. The address 01 rt5 registered oflice Is Flat 3. 7 Netherton Grove, London. SW10 9TQ. Accounting policies 2.1 Basis of preparatlon of flnanclal statemènts The financial slalemenls have been prepared in accordance with the Charrties SORP IFRS 1 021 Accounting and Reporting by Charities. Slalemenl of Recommended Practice applicable lo chaiilies preparing their accounts in accordance with thè Financial Reporting Standard applrable in the UK and Republic of Ireland IFRS 1021 leffedive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Charities Act 2011. The Philip Oppenheimer Foundation meets the definition of a public benefit enlity under FRS 102 Assets 8nd liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounling policy. 2.2 Income All income is recognised once the Charity has entitlement to the income. it Is probablg that the income will be received and the amount of Income receivable can be measured reliably. Income lax recoverable in relalw)n to investment income is reco9nised at Ihe time the Investment income is receivable 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transf8r economic benefit lo a third party, il is probable that a transfer ol e¢onomi¢ benefit5 will be required in settlement and the amount ol the obligation can bè mèasured raliably. Expenditur8 Dn raising funds includes all expenditure incurred by the Charity to raise funds lor ils charitable purFX)ses and includes costs of all fundraising activities evènts and non.charitable trading. Expenditure on charitable activities Is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associaled support costs Grants payable are charged in the year when the offer is made except In those Cases where the offer is conditional. Such grants being recognised as expènditure when the ¢ondrtions attaching are fulfilled. Grants offered subject to Gondilions which have not been rnel al the year end are noted as 8 commitment, bul not gecrued as expenditure All expendilure 1$ inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposil is included when receivable and the amount can be measured reliably by the Charity, this is normally upon nolilicalion ol the interest Paid tsr payable by the institution with whom the funds are deposited. Page 8
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies (continued} 2.5 Invéstménts Fixed assèt investments arg a form ol linaneial instrument and are initially recognised al their transaction Cost and subsequently measured al lair value al the Balance sheet dale, unless the value cannot be measured reliabty in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gain{LoSses) on inveslmenls. in the Slalemenl ol financial activities. 2.6 DebtOTS Trade and olher debtors are re¢ognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-lerm highly liquid Investments with a short maturity of three months or less from the dale of acquisition or openin9 of the deposit or similar account. 2.8 Liabilities and provisions Liabilib'es are recognis¢d when there is an obligation al the Balance sheet dale as a result of a past event. it is probable that a transfer of @conomic benèfit will bè rèquirèd in settlèm8nt, and thè amount of the settlement can be eslimaled reliably. 2.9 Fund accountlng General funds are unrestricted funds which are availablo for use al the dis¢relion of the Trustees in furtherance of the general objectives of the Charty and which have not been designated for other purposes The eapilal endowment fund Is an expenclable endowment which can be retained as capital and Invesle(l or spent at the Irusiees. discretion The income arising from the expendable endowment IS unreslricled. Investment income. gains and losses are allocated lo the appropriate fund Investment incorne Unre5trlcted funds 2025 Total funds 2025 Tolal funds 2024 Income from listed investments 32,232 746 32,232 746 30.165 Interesl income 32,978 32,978 30. 733 Total 2024 30, 733 30, 733 Page 9
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expendlture on charitable activities Summary by fund type Unrestricted funds 2025 Total 2025 Total 2024 Direct costs 86,217 86.217 57,431 Total 2024 57, 437 57,431 Analysis of expenditure by a¢tivltles Grant funding of aetivities 2025 Support costs 2025 Total funds 2025 Tol81 fUrS 2024 Direct Gosts 80,000 6,217 86,217 57.431 Total 2024 57,000 6.431 57,437 Analysis of support costs Total funds 2025 Tol81 funds 2024 Aetivities 2025 Accountancy Independent examination Administration expenses 4,518 1.452 247 4,518 1,452 247 4, 500 1.440 491 6.217 6,217 6,431 Tolal 2024 6,431 8,431 Page10
THE PHIUP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysls of grants 2025 2024 Bibury wrth Winston & Barnsley PCC Bowel Cancer UK Breast Cancer Mow Crackerjacks Childrens Trust Diabetes UK 3,000 5,000 10,000 4.oc 5,000 Hampshire & Isle of Wight Wildlife Trust Institute for Cawer Vaccines and Immunotherapy James, Place Listening Books Macmillan Cancer Support MedKin$ Sans Fronlieres Mental Health Innovations Sl Joseph's Catholic Church Slow on the Wold RFC Ltd Target Ovarian Cancer Thames Valley Air Ambulanca The Brain Tumour Charity The Branch The Clock Tower Foundation The Friends ol All Saints Harfin9lon The Hampshire Medical Fund The Horse Trust The Kings Royal Hussars Welfare Fund The Racing Centre 5,000 5.000 3.000 5.000 10.000 10.000 1,000 70,000 1,000 2,500 1.500 6, 000 6.000 1,000 2,000 10.000 10,000 5.000 80,000 51.(100 Independent examinerfs r8muneration The Independent examiner's remuneration amounts lo an independent exarniner fee of £1,452 12024 £1.4401. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NILJ During the year ended 5 April 2025. no Trustee expenses have been incurred (2024 - £NIL). Page11
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Fixed asset Snvestments Listed Investments Cost or valuatlon Al 6 April 2024 Additions Disposals Revaluations 1,320,854 949,626 1834,1551 1180,6281 At 5 April 2025 1.255.597 Net book value Al 5 April 2025 1,255,597 Al 5 Apni 2024 1,320, 854 The hiStOral cost of the listed Invostmenls al 5 April 2025 was £1,302,04912024." £1,186.6781. 10. Debtors 2025 2024 Due within one year OivKiends and interest receivable 29 Page 12
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 11. Creditors: Amounts falling due within one year 2026 2024 Accruals 5,970 5.940 12. Statement of funds Statoment of funds - currènt year Balance at 6 April 2024 Gainsl Balance at 5 (Lossesl April 2025 Income Expenditure UnrestriGted funds Unrestricted Income Fund 97,473 32,978 186,2171 44,234 Endowment funds Capital Endowment Fund 1,302,874 17,114 159,6561 1,236,104 Total of funds 1,400,347 32,978 193,3311 159,656} 1,280,338 Statement of funds - prior year Balance al S April ZOE3 Gain Ealance al {L055es) S April 3024 InGome Expendilure Unrestricted funds Unrestricted Income Fund 124. 171 30, 733 {57.43 1? 97,473 Endowmentfunds Capital Endowment Fund 1, 173,993 (6.446) 135,327 1,302, 874 Total of funds 1,298. 164 30, 133 (63,877) 135,327 1,400, 341 Page 13
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 13. Summary offunds Summary offunds- currtnt yèar Balance at 6 April 2024 Gainsl Balanc? at 5 (Losses) April 2025 Income Expenditure General funds 97,473 1,302,874 32,978 186,2171 17,1141 44.234 1.236,104 Endowment funds 159,656} 1.400.347 32,978 193,3311 159,6561 1,280,338 Summary of funds- prtoryear 8alanc6 al 6 April 2023 Gain Salane& 81 (Losses) 5 April 2024 Income Expenditu General funds Endowment funds 124, 171 1. 173.993 30. 733 (57.431) 16.446) 97.473 1,302, 874 t35.327 1,298, 164 30, 733 (63,877) 735,327 1,400. 347 14. Analysls of net assets between funds Analysis of net assets between funds - current year Endowment Unrestricted funds funds 2025 2025 Total funds 2025 Fixed asset inveslm8nls Current assets Credilors due within one year 1.236,104 19,493 30,711 15,9701 1,255.597 30,711 5,970) Total 1,236.104 44.234 1,280.338 Page 14
THE PHILIP OPPENHEIMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 14. Analysis of net a$$ets betsveen fund$ lcontinuedl Analysls of net assets between funds prlor ytrar Erpdowmenl Unrestricted funds funds 2024 2024 Tolal lunds 2024 Fixed asset investments Current assets Creditors due within one year 1,302, 874 77,980 85,433 (5, 940) 1.320.854 85,433 (5.940) Total 7,302, 814 97,413 1.400.347 15. Rolated party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing belween relaled parties and the Charity at 5 April 2025. Page 15