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|Legal and administrauve information|2|
|---|---|
|Trustees’ report|3-5|
|Statement ofTrustees’ responsibilities in respect ofthe Trustees’ report and the financial|6|
|statements||
|Independentauditor’s report to the Trustees ofThe Privy Purse Charitable Trust|7-10|
|Statement of financial activities|11|
|Balance sheet|12|
|Statement ofCash Flows|13|
|Notes|14-22|





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||Note|Unrestricted|Total|Unrestricted|Total|
|---|---|---|---|---|---|
|||funds|funds|Funds|funds|
|||2025|2025|2024|2024|
||||£|£|£|
|Income from:||||||
|Donations|2|813,276|813,276|886,246|886,246|
|Investments|3|196,821|196,821|242,550|242,550|
|Total incoming resources||1,010,097|1,010,097|1,128,796|1,128,796|
|Expenditure on:||||||
|Raising Funds:||||||
|Investment management fee||11,504|13,504|7,895|7,895|
|Charitable activities:||||||
|Ecclesiastical||334,406|334,406|254,694|254,694|
|Education||129,031|129,031|725,323|725,323|
|Other||307,195|307,195|425,943|425,943|
||1|770,632|770,632|1,405,960|1,405,960|
|Total resources expended||784,116|784,136|1,411,855|1,411,855|
|Net incoming / (outgoing) resources and||||||
|movement in fund before net (loss) / gain<br>on investments||225,961|225,961|(285,059)|(285,059)|
|Net (loss)! gain on investments|5|(51,383)|(51,383)|284,631|284,631|
|Net incoming / (outgoing) resources and<br>movement in fund||174,578|174,578|(428)|(428)|
|Fund balance brought fonvard at 1 April||5,073,236|5,073,236|5,073,664|5,073,664|
|Fund balance carried forward at 31 March||5,247,814|5,247,814|5,073,236|5,073,236|





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||Nofi|||
|---|---|---|---|
|||2025|2024|
||||L|
|Fixed assets||||
|Investments||5,783,537|5,526,275|
|Current assets||||
|Receivables|7|66,490|6,246|
|Cash and cash equivalents||178,256|614,834|
|Current Liabilities||||
|Pavables: amounts falling due within one year|8|(436,346)|(517,118)|
|Net current (liabilities)/ assets||(191,600)|103.962|
|Liabilities||||
|Payables: amounts falling due after more than one year|9|(344,123)|(557,001)|
|Net assets||5,247,814|5,073,236|
|Funds||||
|Unrestricted funds||5,247,814|5,073,236|
|||5,247,814|5,073,236|






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|Statement ofCash Flows<br>At 31 March|||
|---|---|---|
||2025|2024|
||£|£|
|Cash flows from operating activities:|||
|Net incoming! (outgoing) resources|174,578|(428)|
|AdjustmentsIon|||
|Net loss / (gain) on investments|51,383|(284,631)|
|Investment income|(196,821)|(242,550)|
|Investment management fee|13,504||
|Decrease! (Increase in receivables|2,552|(4,645)|
|(Decrease)! Increase in payables|(293,650)|634,256|
|Net cash (outflow)! generated by operating activities|(248,454)|102,002|
|Cash flows from investing activities:|||
|Investment income received net of fees|178,678|242,500|
|Proceeds from sale ofinvestments|5,832,830|-|
|Purchase ofinvestments|(6,199,632)|-|
|Movement in investment! cash proportion|-|(146,728)|
|Net cash (outflow)! generated by investing activities|(188,124)|95,822|
|Change in cash and cash equivalents in the year|(436,578)|197,824|
|Cash and cash equivalents as at 1 April 2024/ 2023|614,834|417,010|
|Cash and cash equivalents as at 31 March 2025 / 2024|178,256|614,834|
|Analysis ofcash and cash equivalents|||
||2025|2024|
||£||
|Cash at bank and in hand|178,256|125,734|
|Cash held by investment managers||489,100|
||178,256|614,834|





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||2025|2024|
|---|---|---|
||£|£|
|Queen Mary’s Dolls’ Flouse|790,354|772,749|
|Oxford Scientific Films||930|
|Spun GoldTV|344|33,899|
|Other Donations|22,578|78,668|
||813,276|886,246|



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||2025|2024|
|---|---|---|
||£|£|
|UK Listed Investments|180,582|223,590|
|Bank interest|16,239|18,960|
||196,821|242,550|
|4<br>Charitable donations|||
|The followingdonations over £20,000 were made during the year:|||
||2025|2024|
||£|£|
|The King’s Scholarship Fund|100,000|-|
|Sandringham Group ofParishes (Ecclesiastical)|96,180|87,641|
|Chapel Royal<br>— 1-lampton Court Palace (Ecclesiastical)|55,374|67,468|
|Chapel Royal<br>— StJames’s Palace (Ecclesiastical)|47,596|49,988|
|Chapel Royal<br>— \Vindsor Great Park (Ecclesiastical)|42,506|21,176|
|City ofLondon School (Chapel Royal<br>— StJames’s Palace Choristers)|19,526|685,994|
|Chapel Royal<br>— Windsor(lie King’s Choristers)|1,505|31,187|
|Crathie Kirk Church (Restoration ofChurches)|-|50,900|
|\Vest Newton Church (Restoration ofChurches)|-|50,900|
||362,687|1,045,254|





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|||Charitable|Support|2025|2024|
|---|---|---|---|---|---|
|||Donations|Costs|Total|Total|
||No.|£|£|£|£|
|Ecclesiastical|40|334,406|1,555|335,961|254,694|
|Education|4|129,031|154|129,185|725,323|
|Other||||||
|Aged|15|7,900|583|8,483|9,554|
|Animals|20|10,050|777|10,827|7,592|
|Armed Services|43|22,800|1,671|24,471|17,125|
|Children & Youth|37|21,200|1,438|22,638|19,234|
|Cultural|20|36,010|777|36,787|18,908|
|Disabled|20|10,050|777|10,827|8,039|
|Environment|10|9,592|389|9,981|10,191|
|Family Welfare|9|10,000|350|10,350|38,799|
|Hospices & Hospitals|11|6,850|428|7,278|8,318|
|Medical Research|8|4,000|31 1|4,311|4,324|
|Medical Welfare|13|8,314|506|8,820|7,109|
|Overseas Aid|7|44,500|272|44,772|36,183|
|Restoration ofCathedrals & Churches|2|4,532|78|4,610|102,838|
|Royal Almonry|-|-|-|-|8,731|
|Social Welfare|19|66,615|739|67,354|102,213|
|Sport|21|10,500|816|11,316|10,586|
|Trades & Professions|29|18,300|1,127|19,427|13,766|
|Voluntary Services|6|3,000|234|3,234|2,433|
||334|757,650|12,982|770,632|1,405,960|





|5|Investments|||||
|---|---|---|---|---|---|
|||Cost at|Market Value|Cost at|Market Value|
|||31 March|at 31 March|31 March|at 31 March|
|||2025|2025|2024|2024|
|||£|£|L|L|
|UK listed investments||5,946,161|5,783,537|6,416,135|5,526,275|
|Cash|held by investment manager|||480,100|489,100|
|||5,946,161|5,783,537|6,905,235|6,015,373|



||2025|
|---|---|
||£|
|Opening market value ofUK listed investments|5,526,275|
|Cash held by investment manager|489,100|
|\‘(‘ithdcawals|(6,499,632)|
|Purchases|6,199,632|
|Investment income reinvested net ofcosts|119,545|
|Net loss on investments|(51,383)|
|Closing marketvalue ofUK listed investments|5,783,537|





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|7<br>Receivables|||
|---|---|---|
||2025|2024|
|Receivables|66,490|6,246|
|8<br>Current liabilities: amounts falling due within one year|||
||2025|2024|
||£|L|
|Other donations payable|208,899|133,552|
|Chorister bursan and scholarship funding payable (note 9)|161,244|171,609|
|Accruals and Other Creditors|37,766|65,426|
|Trade Creditors|28,437|146,531|
||436,346|517.118|



|A reconciliation ofother donations payable is included below.||
|---|---|
||2025|
||£|
|At 1 April|133,552|
|Amount paid in the year|(82,652)|
|Net charge to the Statementof Financial Activities|157,999|
|At 31 March|208,899|





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|||2025|2024|
|---|---|---|---|
|||£|L|
|Donations|payable|344,123|557,001|



||2025|2024|
|---|---|---|
||£|L|
|At 1 April|728,610|150,024|
|Amount paid in the year|(164,273)|(155,279)|
|Net (credit/ charge to the Statement ofFinancial Activities|(58,970)|645,865|
|At 31 March|505,367|728,610|
|Donations payable at 31 March|||
|Due within one year (note 8)|161,244|171,609|
|Due after more than one year|344,123|557,001|
||505,367|728,610|





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|10|Analysis ofchanges in net debt||||
|---|---|---|---|---|
|||1April|Cash|31 March|
|||2024|flows|2025|
|||£|£|£|
|Cash|and cash equivalents|614,834|(436,578)|178,256|



||Opening|Income|Expenditure|Gains /|Closing|
|---|---|---|---|---|---|
||balance at|||(losses)|balance at|
||1April||||31 March|
||2024||||2025|
||£|£|£|£|£|
|Unrestricted Funds|5,073,236|1,010,097|(901,148)|(51,383)|5,110,802|
|Year ended 31” March 2024||||||
||Opening|Income|Expenditure|Gains /|Closing|
||balance at|||(losses)|balance at|
||1 April||||31 March|
||2023||||2024|
||£|£|£||£|
|Unrestricted Funds|5,073,664|1,128,796|(1,413,855)|284,631|5,073,236|





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||Balance at year|Balance at year|Transactions in|Transactions in|Details oftransacdon|
|---|---|---|---|---|---|
||end||the|year||
|£|2025|2024|2025|2024||
|Royal Collection|||||Donation ofincome from RCT, net of|
|Trust (RCT)|(7,335)|(3,564)|790,354|772,749|expenses, from the admission to Queen|
||||||Mar’s Dolls’ I louse.\\indsor Castle.|
|Privy Purse (PP)|||||Recharge for Maundv Purses. The dates|
||-|(8.495)|-|(8,495)|for Maundy 2025 fell outside ofFY24-|
||||||25.|
|historic Royal Palaces|(27,423)|(39,694)|(27,423)|(39,694)|lgor salaries of shared|
|1-IM Chapel Royal, St.|||||Recharge for salaries ofshared|
|James’s Palace|(203)|(829)|(203)|(829)|employees and flower expenditure.|
|J INICR)||||||
|Thlitan’ Knights of<br>\\indsor (NIK\\)|-|-<br>(3a0)|(500)|-<br>(30)|Donation made annually.<br>-|
|Treasurer to The<br>king Q[Tk|—||(6,000)|(3tH I8|Recharge for rent, utilities and flower<br>expenditure relating to I INICR.|



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