Henley Royal Regatta Charitable Trust Trustees, Report and financial slalements Year ended 30 September 2025 Charity Number 299597 (England 2nd Wales)
Henley Royal Regatta Charitable Trust Legal and Administrative Infomiation Forthe year ended 30 September 2025 Contents Page: Legal and Adminislralive Information Report of the Trustees Independent Examinerfs reF)Ort statement of Financial Activities for the year ended 30 September 2025 statement of Financial Activities for the year ended 30 September 2024 10 Balance Sheet 11-16 Notes forming part of the financial statements Trustees R C. Lester C. L. Baillieu, M.B.E Sir Steve Redgrave, C.B.E R. C. Stanhope S. K. Winckless, M.B.E A. Freeman-Pask Secrotary D. G. M. Grist Registered Charlty Number 299597 Princlpal offic8 Regatta Headquarter5, Henley-on-Thames, Oxfordshire, RG9 2LY Independent Examiner T. Wilson, Haysmac LLP, 10 Qu*n Street Place, London. EC4R 1AG Legal Advisors Farrer & Co LLP, 66 Lincoln's Inn Fields, London, WC2A 3LH Bankers National WeslminsteT Bank Plc, 66- 68 High Street, Maidenhead. Berkshire, SL6 1 QA Investmènt Managers Barclays Bank PLC, 1 Churchill Place, Canary Wharf, London, E14 5HP Page 2 of 16
Henley Royal Regatta Charitable Trust Report of tho Trustees Fof the year endod 30 September 2025 The Trustees pre5enttheir annual report and financial statements of the Charitable Trust forthe year ended 30 September 2025. The financial ststements have been prepared in accordance with the accounting policies sel out in note 310 the finan¢ial statements and comply with the Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 102). Administrattve inforniatlon Henley Royal Regatta Charitable TTUSI, which was established by a Declaration of Trust on 6 June 1988. has the Charity Registration Number 299597 and a registered office at Regatta Headquarters, Henley-on- Thames, Oxfordshire, RG9 2LY. The Trustees who have acted during the 12 months to 30 September 2025 and up lo the date this report was approved are as follows.. R. C. Lester C. L. Baillièu. M.B.E. (Chairl Sir Steve Redgrave, C.B.E_ R. C. Stanhope S. K. Winckless, M.B.E A. Freeman-Pask All Trustees give their time voluntarily and e1ve no benefits from the Charitable TrusL Mr D. G. M. Grisl has acted as Secretary lo the Charitable Trust during the year to implement Trustees decisions, who have met on four occasions during the year under review. Details of the Charitable Trust's independent examiners, legal advisors, bankers and investment managers are shown on page 2 (Legal and Administrative Informalionl. Govemancft The power of appointing new or additional Trustees is vested the Committee of Management of Henley Royal Regatta. When a new Trustee is appointed, appropriate induction and training is arranged. The Trust's key management personnel comprise the Board of Trustees and Secretary lo the Trustees. None of Ihe Trustees are remLtnerated for their involvement with the Charrtable Trust. Under the ternis of the DeclaratK)n of Trust, the Trustees have full power5 10 invest in all investments Or Pfoperty of whalsoever nature and wheresoever situate and to do all such acts and things as shall lurther the proper adminislralion or the attainment of the objecls of the Trust. In compliance with the Statement of Recommended Practice, the Trustees seek proper advice on investments. Following a review of the TNst'$ investrnent objectives and risk profile, alongside review of the strategy and perfomance of the investment portfolio, the Trustees elected to move investments from Ruffer LLP lo Barclays Bank PLC during the year. They have delegated investment powers lo Barclays Bank PLC and have provided that company with a written policy statement and ben¢hmarf(. Regular meetings are held to review the portfolio manager's perfom)an¢e. The major risks to which the Charitable Trust is exposed. as identified by the Trustees, are revtewed annually and systems have been established to mitigate them. The Trustees have prepad the finat)cial statements on a going concem basis. However, before reaching their decision to do so. careful considefation has been given to the possible risk5 to which the Trust15 exposed. Page3of16
Henley Royal Regatta Charitable Trust Report of the Trnstees For thg yoar ondèd 30 September 2025 Of particulaf interest lo the Trustees is the volatslily of the stock market and its impact on both the value of the investment portfolio and the level of incorne arising therefrom, as the Trust relies on both lo produce sufficient funds to meet ils liabilities as and when they lall due. The value of Ruffer LLP investments was £7,361,565 al 30 September 2024, with an additional £57.505 held 85 cash aWatIng investment. The majority of the portfolio was liquidated In March 2025 at a loss of 2.4Vo, generating £7,238,690 in cash. An imrnediale reinveslmenl of £6,638,606 was made with Barclays Bank PLC, including £400,000 held as cash on deposit. The market value of the new Barclays Bank PLC portfolio subsequently rose by 7.5 /0 in the six months lo 30 September 2025. The Trustees are therefore satisfied that it is appropriate lo prepare the financial statements on a going Concern basis, given that the moderate risk, absolute return investment objective is growth that exceeds inflation over the medium lem. The Trustees are compliant with the principles and recommended practice Sel out in The Charty Governance Code. Objectives and activities for the public beneflt The Deelaration of Trust specifically provides that the Trustees shall assist in the provision of facilities and resources to enable and encourage young persons reIVing education or undergoing training in the United Kingdom, lo row or lo scull thereby helping ensure that due allenlion is given to Iheii physical education and development. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trusfs aims and objectives and in planning future activities and setting the grant making policy for the year. Achievements and perfomiance and delivery of publi¢ benefit5 All Aboard Youth Rowing Iforrnally known as Warrington Youth Rowing) has received a lolal award of £142,500 12024-. £123,150), supporting scheme5 in Warrington, MerseYSe, Greater Manchester, Northwich and Runcorn The initiative w28 designed to introduce a wide range of young people in these areas lo the sport of rowing. These youngsters would previously have imagined rowing to be inaccessible lo them and this scheme aim5 to open up the sport of rowing to a broader dernographic. Following an initial 3-year investment. the Twslees agreed lo award further funding due lo the success of the project. London Youth Rowing ILYRI has received total funding of £97,00012024.. £122,000). The original project in London was expanded lo Leeds, and the funding is now spread across three projects in diffent aa5 of the UK. a} Active Row Nottingham is based on the successful model used in London and Leeds, with the Trust's fundin9 allowing LYR lo employ a full-time rowing coach lo be based in Nottingham lo lead the rollout of Active Row Nottingham lo 11 schools across the city. bl Active Row Islington folkiws the same mtxjel as London and Leeds. 11 is currently in ils third year of activity and is already reaching nearly 300 participants each week in 13 schools. cl Active Row Bristol is the newest hub In this proiect, now entering rts second year of activities and reaching nearly 400 pupils in 11 schools. The Rowing Foundation has received funding of £62,000 {2024.' £58,000). The Rowing Foundation distributes funds to smalkscale rowing Projects. East Anglia Youth Rowing IEAYRI received funding of £52,00012024'. £52,000) which supports a scheme where a rowing club partners with local schools across Cambridgeshire. Gorse Academies Trust ceiVed funding of £20.000 12024.. £20,000) lo fund both ind(x)r and outdoor rowing for 4,500 pupils acros5 the trust. The TTUStees made a nurnber of smaller grants.. 1. £18,80012024'. £01 was awarded lo Inverness Rowing Club, the Trust's first project in Scolland,. 2. £16,550 12024.. £9,059) to Castle Mead Academy, which provides rowing coaching across Leicester., 3. £15,704 {2024'. £7,852) to Tyne Rowing Club, a new scheme providing rowing coaching in schools, Page 4 of16
Henley Royal Regatta Charitable Trust Report of the Trusteos For tho year ended 30 September 2025 4. £15,000 12024.. £10.0001 was awarded lo Hounslow Community Rowing Twst, a new scheme engaging with 6 local s¢hools', 5. £10,00012024'. £10,oIX)I was awarded to 0aorne Chance, a coastal rowing Scheme which seeks lo involve children who a disen9aged wth schooling and provide them wiÉh the opportunity to learn new skills including rowing and practical workshop-based learning., 6. £6,001 12024.. £2,500) to Enable Leisure and Culture, which provides rowing coaching to State school pupils who would olhemse not have an opportunity lo learn lo row., 7. £5,50012024 £5.5001 to 8all Cup Regatta Isoulhl, held at Dorney Lake which gives youngsters the opportunity lo race in a multi-lane environment", 8. £5,00012024.. £20,000} lo the National Junior Indoor Rowing Championships (NJIRCI, this is an annual competilion njn by LYR. In the spring of 2025, the event ran in two locations (London and Leeds} with Pa'c1p8nlS from across the UK compeb'ng against each other regardless of location, in individual and team Telay races", 9. £50012024.. £500) to the Regatta for the Disabled, enabling those with access requirements to enjoy a day of water sports and family activities. Financial Revlew The Trustees aim to grow the Charitable Trust's fund5 to a size that will allow them lo support ongoing, long term charitable objectives from annual investrnent income. A resolution was passed by the Trustees on 31 October 2007, pursuant lo the power contained in Clause 4.5 of the Charity's gtsverning instrument, to transfer the sum of £5,231,798 IrepTesenled by investment assets, managed by the Trusvs portfolio managers), to be accumulated to caprtal by way of a transfer of this amount from the Unrestn'cled Inccime Fund to a DeSnated Capital Fund. Dufing the year under review, the ChaEitable Trust's Designated Capital Fund was increased by £347.182 (2024.. £231,461> from net investment gains. Over Ihe course of the financial year, the Unrestricted Income Fund was reduced by £296,51312024', £325,031}, after grant expenditure, operating expenses ansJ receipt of investment income. Grant expenditure and operating expenses for the year lotslled £508,24912024.' £479,352) and in future years the Trustees anticipate disbursing similar amounts ot money annually. While the Trustees review cash-flow projections regularly, il is conSided important that the level of disposable net assets is adequate so as to ensur8 that the Charitable Trust is, and will continue lo be, in a position lo meet all ils commitments when they fall due. and to continue in the medium lem lo maintain grant expend'lure at its Present level. Reserves Pollcy The Charitable Trust at its year end, 30 September 2025, held £340,478 {2024'. £636,991} free reserves Ithal is those funds not lied to fixed assets, designated or restricted funds). A further £7,766,25212024'. £7,419,070) was held by the Trust in its Designated Capital Fund, resulting in total funds of £8,108,730 12024.. £8,056,061> held by the Charitsble trust at the year end. The Trustees have forecast the level of reserves requir in the fofeseeable future. and believe that based on cashflow projections to 31 December 2026, they will be required to access the Designated Capitsl Fund held by the investment managers within 12 months of the approval of the Financial Slaternents, lo fund annual 10c4St net expenditure 01 £865,000 Ihis wll allow the Charitsble Tw$t.' al lo meet its commrtmenls and normal patlems of expenditure taking inlo consideration the lack of major donations in recent years., bl to safeguard against unforeseen difficulties and risks", el lo engage in new opportunities or make unfjxpected grants or calls on fvnds. Page Sof16
Henley Royal Regatta Charitable Trust Report of the Trustees For the year ended 30 September 2025 Serlous Incidents The Trustees confirm that there are no serious incidents or other matters relating to Henley Royal Regatta CharilabSe Trust over the financial year under revbew that should have been brought lo the attention of the Charity Commission. Plans for luture periods The Trustees remain convinced that one of the most important roles for the achievement of their objectives and the public benefit, is to support coaching al'grass roots level,. Schemes such as the projects overseen by All Aboard Youth Rowing and London Youth Rowing conlinue lo introduce hundreds of youngsters lo the sport of rowing throughout the country. Once the young people are involved, the single most important factor in retaining their interest is ongoing coaching by suitably trained and motivated adults. During the year lo 30 September 2025, the number of organisalions awarded funding by the Trust has remained on a par with the prior year. Existing projects have continued to receive support within the scope ol their original funding agreement,. at the same lime they are encouraged lo begin seeking altemalive sources of fundir3g to increase their sustainability. Public beneflt statomont The Trustees have complied with the duty in section 1715) of the Charities Act 201110 have due regard of the guidance published by the Chanly Commission. The Trustees are very mindful of their responsibilities and have been referring lo the guidance when reviewing their aims and objectives when planning their tuluie activities. In particular, they have Consider how planned activities will contnbute lo the aims and objectives they have sel. They believe that the objects contained within the Declaration of Trust benefit the public by promoting physical exercise as well as the educats'on and development of young persons. Statement of Trustees, Responslbiltties Charity law requires the Trustees lo prepare Financial Stalernenls for each financial year, which give true and fair view of the slate of the Charitable Trust as al the balance sheet date and of its incoming resources and application of fesources, including inrne and expenditure, for the financial year. In preparing those Financial Statements, the Trustees are required to.. select suitable accounting policies and apply them consi5tently', observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the Financial Statements on the going concern basis unless il is inappropriate to presume that the Charitable Trust will continue lo operate. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuraey al any time the financial position of the charitable trust and lo enable them to ensure that the Finaneial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charitable Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and Signed on their behalf by- CL Balllleu MBE Chair Date Page6 of16
Henley Royal Regatta Charitable Trust Indopendent Examinevs rnport to the Tru5teos I report to the Trustees on my examination of the accounts of Henley Royal Regatta Charitable Twst for the year ended 30 September 2025, which are set out on pages 8 to 16. Respo¢tiv¢ résponslbilltles of t8$ and examiner The tNstees are responsible for the preparation of the accoun15 in accordance with the requirements of the Charitie5 Act 20111"the 2011 Act'l. The Iruslees are sats'sfied that this year's audit is not required under section 14412) of the Charities Act 2011 Ithe 2011 Acl} and have chosen to have an independent examination instead. I report regarding my examinats'on of the Trust's accounts as carried out under section 145 of the 2011 Act. In caTrying out my examination, I have followed the requirements of the applicable Directions given by the Charity Commission under section 14515)Ibl of the 2011 Act. Ind•p•ndent examiner's ststement I can confifm that l am qualified to undertake the examinab'on because l am a registered member of the ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that fio matter$ have come lo my attention giving me cause to believe that in any material respect.. accounting records were not kept in respect of the ¢harity as required by section 130 of the 2011 Act., or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the fomi and content of accounts sel 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 conSided as part of an independent examination. I have no concerns and have come across no other matters in connection with Ihe examination lo whi¢h attenhon should be drawn in this report in order to enable a proper understanding of the a¢counls lo be reached. tu Thomas Wilson FCA HaysMaG LLP 10 Queen Street Place London EC4R 1AG Date.. 1811112025 Page7 of16
Henley Royal Regatta Charitable Trust Statement of financlal aetlvlties For the year ended 30 September 2025 Unrestrlcted Income Fund Deslgnated CapStal Fund Total Funds 2025 Note Income from Donations 27,560 27,560 Investment Income 184,176 184,176 Total Income 211,736 211,736 Expenditure on Investment Management Costs Charitable Activities 20,518 487,731 20,518 487,731 Total Expenditure 508,249 508,249 Net expendlture befor Revaluations and Investment Asset Disposals 1296,5131 (296,5131 Gains on Investment assets 10 347,182 347,182 Net expenditure 1296,5131 347.182 50,669 Transfer betsveen funds 13 Net Movement in Funds 1296,5131 347,182 50,669 Roconcillation of Funds TolaS Funds brought forward 636,991 7,419,070 8.056,061 Total Funds carrled foard 14 340.478 7,766,252 8.106.730 The Statement of Financial Activities incorporates the Income and Expenditure Account. The results from the period derive from continuing acbvities and there are no gains or losses other than those shown above. Notes on pages 11 10 16 fomi part of these financial statements. Page 8 of 16
Henley Royal Regatta Charitsble Trust statemont of financlal actlvltie$ For the year ondèd 30 September 2024 Unreslrict¢d Income Fund Deslgnalod Capltal Fund Totsl Funds 2024 Note Income from Donations 7,472 7.472 Investment In¢ome 146,849 146,849 Total Income 154,321 154.321 Expenditure on Investment Management Costs 20,699 20.699 Charitable Activities 458,653 458,653 Total Expendlture 479,352 479.352 Net expenditure before Revaluati011s and Investment Asset Di$po3als 1325,0311 1325,031) Gains on Investment assets 10 231,461 231,461 Net expendlture 1325,031} 231,461 193,5701 Transfer beeen funds 13 500,000 1500,0001 Net Movement in Funds 174.969 1268,5391 193,570} Reconciliation of Funds Total Funds brought forward 462,022 7.687,609 8,149,831 Total Funds carried fomard 14 636,991 7.419,070 8,056,061 The Statement of Financial Activities incorporates the Income and Expend((ur8 Ac¢ounl. The results from the period derive from continuin9 activities and there are no gains or losses other than those Shown above. Notes on pages 11 to 16 fomi part of these financial statements. Page 9 of 16
Henley Royal Regatta Charitable Trust Balance Sheet As at 30 September 2025 2025 2024 Note Fix¢d As$ets: Invèstments Cash on Deposit awaiting investment 10 7,406,490 408.001 7,361.565 57,505 7.814.491 7,419,070 Current Assets: Cash al bank 308.359 642,313 Cred¢tors: Amounts falling due within one year 116,120) 15,3221 Net Current Assets: 292.239 636,991 Net Assets 8,106,730 8,056,061 The fvnds of the charity- Unrestricted Income Fund Designaled Capital Fund 13114 13114 340.478 7.766.252 636.991 7.419.070 Totsl charity funds 13114 8,106,730 8,056,tA1 Approved by the Board of Trusiees on .11.70.L< and signed on ils behalf by.. CL Bailllèu MB Chair Notes on pages 11 to 16 fomi parl of these financial statements_ Page 10of16
Henley Royal Regatta Charitable Trust Notes fomiing part of the financlal statements For tho year ended 30 September 2025 General Information Henley Royal Regatta Charitable Trust is a registered charty, number 299557. The principle place of business is Regatta Headquarters, Henley-on-Thames. Oxfordshire, RG9 2LY. Basls ol Accountlng The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at marf(et value, in accordance wlh the Charitie5 Act 2011 and the requirements of the Statement of Recommended Practice applicable to charities preparing their accoLtnts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 1021 {effective 1 January 20191, the financial Reporting slandard applicable in the UK and Republic of Ireland IFRS 1021. The Charitable Trust constitutes a public benefit entity as defined by FRS 102. The financial statements are presented in slerting and are rounded to the nearest pound. A¢countlng Policigs The principal accounting policies a¥e summarised below. The accounting policies have been applied ¢onsistently Ihrou9houl the 12 months and in the pCeding period. •) Donatlons and Invfjstm•nt Income Donations, except in relation to legacies, are accounted for at the time of receipt. Le9acies are included when the Charitable Trust becomes enliled to the funds and the sum receivable can be reliably quantified. Interest receivable and investment income is renised in the period in which it is receivable. b)Flxed Ass8t Investments Inveslmenls are included at closing mid-markel value at the balance sheet dale. Any gain or loss on revaluation is taken to the Statement of Financial Acb'vities. c)Charlt#blè Actlvltles- Grants Payablo Grants payable are payments made to third parties in the furtherance of the charitable objeetives of the trust. Grants are paid al the discretion of the Trustees and are accounted for where the Trustees have agreed lo pay the 9ranl without condition and the re¢ipienl has a reasonable expectation Ihat they will receive a grant. or any condition attaching to the grant is outside the control of the Trust. d)Realis and Unrealised Galns and Losses on Investmgnt Assets Realised gains and losses are computed using either the market value prevailing at the beginning of the period, or the cost of the investment il it was purchased during the period, less the proceeds received. unrealis gains and losses are calculated by adjusting the opening market value of an investment al the beginning of the pertod to the market value at the year end. 8) Fund Accounting The Unrestricted Income Fund represents free reserves available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Trust The Designated Capital Fund ¥epresents the funds tied up in ftxed assets investments and includes a revaluation resetve representing the restatement of investment assets at market values at the year end. The investment income arising within the Designated Caprtal Fund is transferred lo the Unrestn'cted Income Fund and is available for application Page 11 of 16
Henley Royal Regatta Charitable Trust Notes fomiing part of the financial $tstements For the year endod 30 September 2025 Accounting Policies Icontinuedl Q Resources expended Exper)dilure is cogniSed on an accruals basis. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure lo which it relates. Charitable expenditure comprises those costs incurred by the Charitable Trust in the delivery of ils activities and seNices for ils beneficiaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. g)FinanciTal instruments The charity only has financial assets of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al a transaction value and subsequently measured at arnortised cost wrth the exception of investments which are held al fair value. Judgements in applying thg accounting polieles and key sources of estimation uncertainty In the application of the Trust's acco¢Jnting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimales and associated assumptions are based on historical experience and other faelors that are considered to be relevant. Actual results may drffer from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future peiiods if the revision affects both current and future periods. There were no judgement or material estimation uncertainties affecting the reported financial perfomiance in the current period or prior year. Assessment of going conc8rn The Trustees are continually reviewing their plans and financial forecasts and believe that the going Concern basis is entirely appropriate in the short to medium lemi. The Trustees have concluded that whilst there is uncertainly due to the volalilily in the Financial Mafkels, this does not represent a material uncertainty in relation to the Trusts ability lo continue as a going concem. The Trustees note that the Designated Capital Funds may be spent on both income and caprtal projects. The Charitable Trust has liquid cash of £74,000 after payment of some large grants, all of which is unrestricted In addition, the Trust is holding £408,ODO in cash in its investment portfolio as part of the Designated Capital Funds. Based on cashflow projects.ons prepared lo 31 December 2D26, the Charity expects to access the Designated Capital Funds within 12 months of the approval of the Financial Statements lo meet ils projected grant payments as they fall due. Taxatlon As a Charitable Trust. Henley Royal Regatta Charitable Trust is exempl from lax on income and gains falling within Section 505 of the Taxes Act 1988 or seetion 256 of the Chargeable Gains Act 1992 to the exlenl that these are applied to ils charitable objects. No lax charges have arisen in the Charitable Trust. Page 12 of 16
Henley Royal Regatta Charitable Trust Notes fomilng part of the finan¢io1 $tatements For the year ended 30 Soptember 2025 Donations 2025 2024 Donations 27.560 7,472 Investmont In¢ome 2025 2024 Derived from.. Investments listed on a recnISed Sknck Exchange Bank 168,949 15,227 143,227 3,622 184,176 148,849 Charltable Actlvities 2025 2024 Grants payablo All Aboard Youth Rowing London Youth Rowing Rowing Foundation East Anglia Youth Rowing Gorse Academies Trust Invemess Rowing Club Castle Mead Academy (Leicesterl Tyne Rowing Club Hounslow Community Rowing Trust Oarsome Chance Enable Leisure and Culture Ball Cup Regatta - South National Junior Indoor Rowing Championships Regatta for the Disabled Henley Mersey Rowing Club 142,500 97,000 62,000 52,000 20,000 18.800 16,550 15,704 15,000 10,000 6,001 5,500 6,000 500 123,150 122,000 58,000 52,000 20,000 9,059 7,852 10,000 10,000 2,500 5,500 20,000 500 600 466,S55 441,161 Governance Costs Legal fees & professional Audltor's fees in respect of.. Independent examination 11,742 11,176 5,040 16,722 16,216 Other Costs Promotion Sundry expenses 4,304 150 1,234 42 4.454 1.276 Total Charltable Activitie$ 487,731 458,653 Page 13of16
Henley Royal Regatta Charitable Trust Notes fomiing part of the financial statements For the year ended 30 September 2025 10 Fixed Asset Investmonts 2025 2024 All the investments are listed on a recognised Stock Exchange Market value as at the beginning of the year Additions to investments at cost Disposal proceeds Nel investments gains 7,361,565 7.877,952 {8.180,2091 347,182 7,248.468 7,805,445 17.923.809) 231.461 Market value as al the end of the year 7.406,490 7,361,565 Historical cost as at 30 September 6,738,389 7.022.970 At 30 September listed investments comprised the following". Global Equities Index Linked / Fixed Income Other 7,631,164 401 5.469,872 1.519,790 416,828 7,406.490 7,361,565 Atl of the fixed asset inveslmenls. together with cash held awaiting reinveslmenl, represent the total value of investment assets within the Designated Capital Fund of the Charitable Trust al the year end. All of the fixed asset investments are held primarily to provide an investment return for the Charitable Trust. 11 Crnditors- Amounts falllng due within one year 2025 2024 Creditors and Accruals 16,120 5,322 Reconciliation of grlnts payable: 2025 2024 Grants payable at the start of the year New grant commitments charged lo the SOFA in pertod Inole 91 Grants paid during the period 466.555 441,161 (466.555) 1441.1611 Amount of grants payable al the end of the year Page 14 of16
Henley Royal Regatta Charitable Trust Notes lolg part of the flnanclal statemgnts For the year onded 30 September 2025 12 Trustees, Remuneration No Twstees received any remuneration during the period (2024 - Nill. No Trustees were reimbursed fof expenses during the period12024- Nill. There were no employees during the year12024.. Nil). 13 Reconclllatlon in Movement In Funds 2025 Unrtstrlcted Income Fund Designated Capital Fund Total Balance brought ft>rward 636,991 7,419,070 8,056,061 In¢omlng resources Outgoing resources Galn on Invostmènts Transfers 211,736 {508.2491 211,736 1508,249) 347,182 347.182 Balanco ¢arrfed lonvard 340.478 7,766.252 8,106,730 2024 Unre8trictBd Income Fund Deslgnatod Capltal Fund Total Balance brought fomard 462,022 7,687.609 8,149,63t Incoming sourceS Outgoing resources Gain on inveslmenls Transfers 154,321 1479.3521 154,321 479,352) 231,461 231,461 1500,0001 soo,000 Balance earned fotward 636,991 7,419,070 8,056,061 The designated capital fund is a fixed asset investment held lo grow &qpital funds over the long term to size that will allow the Trustees to support on-going, long term charitsble objectives. Pag8 15 of 16
Henley Royal Regatta Charitable Trust Notes fornilng part of the financial ststements For the year ended 30 September 2025 14 Analysi$ of Net Assets between Funds 2025 Unrestricted Income Fund Deslgnated Capital Fund Total Fixed asset investrnents Net Current assets 7,766,252 7.766,252 340,478 340,478 340.478 7.766,252 8,106,730 2024 Unrestrieted Income Fund Designated Capital Fund Total Fixed asset investrnents Nel current assets 7,419,070 7,419,070 636,991 636,991 636,991 7,419,070 8,056,061 15 ControllSng party Henley Royal Regalla has the right 10 2PPOlnt the trustees of Henley Royal Regatta Charitable Trust and as a result of this is deemed to have control of the er71ity. 16 Relal8d party During the year Henley Royal Regatta pald expenses on behalf ot the Trusl of £2,68612024- £1,274) and at the year end the balan owed to Henley Royal Regatta was £nil12024 - £nill. Page 16 of 16