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 prepa￿d 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 aWa￿tIng 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 re￿IVing 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, MerseYS￿e, 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 diffe￿nt a￿a5
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 0a￿orne 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 DeS￿nated 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 conSide￿d 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 10￿c4St 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 in￿rne 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 t￿￿￿8$ 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 conSide￿d 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 fo￿ard
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 be￿een 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 p￿Ceding 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 re￿nised 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 $tatements
For the year ended 30 Soptember 2025
Donations
2025
2024
Donations
27.560
7,472
Investmont In¢ome
2025
2024
Derived from..
Investments listed on a rec￿nISed Sknck Exchange
Bank
168,949
15,227
143,227
3,622
184,176
148,849
Charltable Actlvities
2025
2024
Grants payablo
All Aboard Youth Rowing
London Youth Rowing
Rowing Foundation
East Anglia Youth Rowing
Gorse Academies Trust
Invemess Rowing Club
Castle Mead Academy (Leicesterl
Tyne Rowing Club
Hounslow Community Rowing Trust
Oarsome Chance
Enable Leisure and Culture
Ball Cup Regatta - South
National Junior Indoor Rowing Championships
Regatta for the Disabled Henley
Mersey Rowing Club
142,500
97,000
62,000
52,000
20,000
18.800
16,550
15,704
15,000
10,000
6,001
5,500
6,000
500
123,150
122,000
58,000
52,000
20,000
9,059
7,852
10,000
10,000
2,500
5,500
20,000
500
600
466,S55
441,161
Governance Costs
Legal fees & professional
Audltor's fees in respect of..
Independent examination
11,742
11,176
5,040
16,722
16,216
Other Costs
Promotion
Sundry expenses
4,304
150
1,234
42
4.454
1.276
Total Charltable Activitie$
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 lo￿l￿g 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