WILLIAM BELMER RUSH FOUNDATION REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Ru$h Fmlly Rtunlon- 1928 D4l•y ARAtt FA1wrd 'e•r Frxnk FellDer(RuAhb Miy kthel Hvry Tlmi Miy Tlmi Slithley Tlms KlhlttA Il'lnifrt Dtots Tlthl
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES For the year Ènded 31 March 2025 The William Belmer Rush Foundation VAS established on the 5 June 1964 vnder a Declaraoon of Trust by Miss W.V. Rush to promote the advancement of education with particular emphasi5 on assisting past and present pupils of Muntham House School in Horsham. Sussex in whatever way the Trustees think fit. Later Miss Rush requested in wricing that the Trustees use income from the Foundation to support the work of B3rnardo's and Save the Children. Objective$ & Aims The Foundation's objectives remain the same as specified by Miss Rush: To profflote the advancement of education with particular emphasis on assisting past and present pupils of Muntham House School in whatever way rhe Truse5 think fiL and To use income from the Foundation to support the work of Barnardo's and Save the Children in whatever way the Trustees chink fiL The Tru5cees' investment policy to fulfil this objective is by maximising intome whilst trying to ensure capiol value is not eroded. especially by inflation. The Foundation is an endowed chariry tha¢ empowers the Trustees to distribute the investment income but not the capital, Financial Revi•w The attached accounts show that the Foundation received a total of £83.579 (2023124: £82.097) and authorised grants totalling £77.184 (2023124: £75.324). The total current value of the invescments has decreased 4Y. during the year co 31 March 2025. Income from investments has increased by 1.8% (2023124 increase 2.41.). Analysis of ¢he changes for the individual investment vehicles is given in no 4 to the Accounts. All income is received gr05s of tax. The current split of the capitsl investment as shown against the approved optimum split is shown below: Optimum split 70% 25% At 31 March 2025 84.9% 14.8% 0.2% Investment Fund Property Fund Deposit Account (Capital) The current split of capital investments is not aligned to the optimum spli¢ this will be considered by the Trustees at the forthcoming AGM. The Trustees distribute the income received as shown below. These amounts are distributed after the c105e of the financial year and will be applied by the beneficiary charities during the financial year ending 31 March 2025. 2024125 33.3% £25,728 33.3% £25.728 33.3% £25,728 2023124 33.3% £25.108 33.3% £25,108 33.3% £25,108 Save the Children UK Barnardo's Muntham House School The Board of Trustees have agreed an equal split between the three beneficiary charities for the 2024-2025 grant distributions. This will be ratified at their 2025 generdl meeting on the balance sheet date. Reserve5 Policy Current year expenditure 15 met out of current year income (m05tly from the endowment fund) and, after providing for accrued expenditure, the remaining surplus is disbursed to the beneficiary charities as detailed above. As the charity does not have any employee or properry commitments, then it is unnecessary to hold reserves. The balance sheet therefore shows that the net assets comprise only the value of the endowment fund - and thus reserves are nil.
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Achievèments and Performance The 2023124 distributions were used ro facilitate the following projeccs as explained by the beneficiaries. SAVE THE CHILDREN UK The William Belmer Rush Foundation's grant was used for two purposes. The grant's first use was towards our Emergency Fund, part of which. entailed supporting children impacted by humani¢arian emergencie5 to continue co receive an education. Second, the grant went to an Early Childhood Care and Development {ECCD) programme in the Bekaa Valley. Lebanon. 12-Month Progress Report I: Ensuring Educatlonal Opportunities for Children Impacted by Emergencles The bulk of WBR Foundation's 5UPPOrt in 2024 helped to enable Save the Children to reach 12.7 million children in emergencies across 71 countries during 2024. One example of this, was our pilot Educational Route projecL in which tens of thousands of refugee families (who had to make the difficulf cr055ing from South to Central America). were able to make use of an innovative system to ensure that their children's education stayed on track. The project used a tool that assessed each child's educational level and facili¢ared the transfer of their educational records as they travelled along the route, helping them to access classes at the right level in each country. Over 1,369 children have been assessed by the tool to dace. and following the successful piloL it is now fully operational, helping many more refugee children to access quality learning across Central America. A further example was our response to the Laki-laki volcano eruptions in 2024-25. from November 2024 to March 2025, which displaced over I 5,000 people and had over 70 casualties. These eruptions filled schools with ash and debris. Falling rocks also Caused extensive damage, and some classrooms caught on fire. Almost immediately and continually, the educational pathways for over 5.300 children were disrupted. At once. they had to learn in tents and temporary learning centre5, while our emergency school supported children who Ilved wlchin the Immediate vicinity of the volcano. In addicion, Save the Children provided psychosocial support and sanltatlon servlces for the impacted communities. All of which was enabled by the Truscees. support. Case Study: Livlw Continuing Her Educational Journ¢y One such person who benefi¢ced from this supporL was Livi | I, who lost her family home in che November 2024 eruption. For three months, Livi and her family moved between different shelters before finally settling in temporary housing. In the displacement centre, Livi continued her schooling in emergency tent5 behind the temporary housing. However, due to the limited number of tents, two to three classes had to share one space. separated only by fabric dividers. To rettify this, Save the Children, along with our partners, built a new temporary learning space rhat safer, more cornfortable, and spacious. These emergency schools are made of metal frames. zinc, and plywood. designed with good air circulation in mind. built near trees, and equipped with new desks, chairs. and clean water ¢oilets. Livi and the other children attending the temporary learning space also received school kits, including unifornis, books. shoes, and Stationary. Kits for shelr and hygiene. among others. were also provided to the children. Now, Livi can continue learning safely and comfortably. With better learning spaces and adequate school supplies, she can pursue her education and work towards her dream of being a teacher. "Without teachers. there would be no police officers or law enforcement because everyone learns from teacher. l also love the idea of becoming a teacher because teachers are usually kind."
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) 12-Month Progress Report 2: Enhancing Futures: Early Childhood Care & Development (ECCD) for Children in The Bekaa Valley* Lebanon The resi of the Foundation's grant (£921.44) also went towards this Crucial project in Lebanon. which supported vulnerable children (particularly those from refugee (amilies and with disabilities) to access quality, and tailored, ECCD. Before 2024, Lebanon had already been experiencing an unprecedenced economic crisis that greatly impacted che ability of vulnerable communities to be economically self-sufficienL Over 1.2 million school-aged children had their educations disrupted in 2020 alone, with 400,000 being unable to attend due to poverry, among ocher factors. To escalatr matters even further, Lebanon experienced yet another round of hostilities with neighbouring Israel, which displaced over 1.2 million people and 420.000 children. The projecr's activltie5 were undertaken In the Bekaa Valley. which was already one of the most marginalised regions in Lebanon before the conflicL Over 90% of refugees residing in the Valley were struggling to meet the minimum expendirure required for survival, and over the pcedIng year there was a marked reduttion of opportunities for livelihood5. The project aimed ro improve the long-term prospects of vulnerable children in the Bekaa Valley by enhancing their skills and ensurinz that they can learn at home. In particular, che project had the following objectives: l. Improving the learning outcomes and access to fonnal educatlon for vulnerable children aged between 4 and 6 years old. 2. Developing the capacities of parents, careglvers. educators. and teachers to 5UPPOrt their children's continuity of learning. 3. Increasing the awareness of the community around the imporr2nce of education and child protettion risks via ini¢iatives that posltlvely Impatt and benefit the community. This was achieved through ongoing training and capacl(y bullding for trachers and partner sr2ff, with focus on inclusive education practices to provide supportive and effectlve learning environments for all children. We closely engaged with parents, equipping rhem with the skills and knowledge th•y needed to supporr their children's learning and development at horne. Through this holisric approach towards educatlon and care, via the combination of both 5chool- and home-based activities, we were reinforcing the Impact of the ECCD seryices and promoting the wellbeing and development of children. In total, 418 children were reached directly, as well as 30 reachers and 217 caregiver5. Furthermor 1,856 people were reached indirettly (1,254 children, 60 teacher family members, and 542 car•givers' family members). Some key highlights from our activlties included the followin 22 oachers and 8 l¢hIng as5iStaTrts (TAS) were recruited, all of whom had previously worked under the holistic ECCD model, o Their skills were further refined through an extensive series of professional development sessions, ensuring that they possessed the requisice knowledge in key educational and child protection concepts, and ultimately enhancing the quality of the education provided. o Moreover, ongoing sUPPOrt was provided through Teacher Learning Circle5 (TLCsl, which involved peer-EQ.peer sessions and regular follow-ups. 418 children were direcdy enrolled (223 girls and 195 boy5). Of these. 152 were placed in level 2. and 266 in level 3. By the end of the cycle, 414 children had successfully completed at leart 70% of the sessions. Four children had w drop ou4 which were for one of two reasons; l} due to relocation within Lebanon, or 2) returning to Syria.
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Due to the challenging socioeconomic and political concext of Lebanon. as well as the access issues for some of the children. cransport was provided to ensure consistent attendance. o This transport was tailored to each child's need and Context. Follow-ups were conducted on the instance of any absence. including the sharing of catch-up learning matsrials. Beyond the standard sessions. ex(ra rev15i0n sessions were organised to support those with additional learning needs, and in che process helping these studen¢$ to further develop their socio-emotional skills. 96% of the children who went through the projett had made significan¢ improvements in their learning outcomes. 418 learning kits (223 for girls, and 195 for boys) were distributed to ensure the participaling children had the necessary educational materials. Awareness raising sessions on proper hygiene practices and Ilce prevention were conducted for caregivers and children to improve their undersonding and prevent any future health issues. An awareness raising session on rhe Importance of Education was prepared by Save the Children and delivered by the teachers to the caregivers. This was crucial in strengthening the relationship berween teachers and caregivers, highlighring the benefits of education for individuals and soclety, and stressing the importance of enrolling children in schools. For all Level 3 students. a school bag and stationery were provided on the last day of the project to ensure that they were able to transition to formal education with the necessary macerials. At the end of the Pro1 the team organised a special Ihree•day event on Auzust 2 1st which aimed to foster the mental wellbeing of the children and boost thelr self-esteem o This event was a platform for them co unwind. have fun. and develop soclal connectlons with their peers. o It was also an opportuniry for the children to platform their newly acquired skills, such as self-expression, effective communication. as well as celebrating their accomplishments. During the ffinal phase of the projec¢ our education and eommunity support tsams installed solar powered lights near the schools to improve the safety of the children. with a key focus on improving visibility and safety during low-light hours. o In total, 90 solar lights were ins&illed, benefitting almost 4,000 people, of whom c.2.500 were children *Names changed to keep people safe BARNARDO'S ETS Scotland overview In 20242025 the delivery of a wide range of qualifications has continued w be core component of the work of our Barnardo's Works Services across Scotland. This year we have started to develop more vocational pathways in childcare, hospitality and construction. This work has meant we have seen a big rise in qualification5 such as Paediatric First Aid. We have also had over 140 young people achieve their one-day Health and Safety in a construction environment course thac is a core component for young people if they wish to move in the construttion sector and work towards the CSCS card. In 2024-25 we worked wich over 1300 young people in our front-linè seryites and $upported over 750 young people to achieve a qualification that helped them imprt)ve their readiness for work and ove in to work We are still contiTruing to see young people present with complex barriers: many young people report that their education has been impacted by the pandemic and that they really appreciate being ble to learn in a different environment. Barnardo's Works continues to support young people with a
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) wide range of additional barriers. We are yet to fully collatr our full EDI impact for the year but at the moment this includes: Care leavers., I 5% of young people we have supported disclosed haviThg a lived experience of being in care. Young people with learning difficulties: 22% of young people we have suppOrd disclosed form of learning disability, mainly low to moderate. Young people with mentsl health issues: 23% of young paople we have supported di10$ed mental health issue& mainly low to moderate. I've learnt a lot about employment and more about practical worlL I know how important teamwork is in a practical environment, and I definitely enjoyed this a lot more than I thought I would." The ETS Model Vocational Tralnlng Offering training in and Hea Activities that enga the world of work, In Employability Ski115 Our focus is on developing strong trusted relationships with young people and getting ¢0 understand where they are on fheir journey into employment. We rake a holistic approach to this. understanding not just the support they need w ob(ain employment but also understand the wider pastoral Theeds and is5ue5 the young person may need support with for examplq Housin& Money Management and Sub5tsnce misuse. The support we deliver is tailored to suit each young person's individual needs. "They helped wak• m¢ UP to the reality of th• world. I r•alis•d I had to do somethlnz to keep me busy. whlch bezon with jurt coming In o few days a w•ek fvr odd thlngsp tosks ond events. We volunteered which woke me UP to the choice I had ro make. Th¢rt choice was to opt In and work They encouroged me to apply for all sorts of job&"
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Our diverse portfolio Barn2rdo's provides a diverse selection of qualifications to ensure each young person has access to the most suitable learning pathvfay. This enables us to offer tailored suppor¢ through one-to-one sessions, small group work and online learning. We support young people in both rural communities and larger urban areas. To meet these varied need5, it is essential that our portfolio remains dynamic and adaptable across drfferent settings. Barnardo's enables young people to access qualifications tha¢ are sector specific and meet specific job role requirements. For example. CSCS cercificate for working in Construttion, Food Hygiene certificate and Manual Handling. This year. we have had an increase in childcare courses which has seen our young people receive paediatrit first aid training to help support progression into Childcare roles and courses. We have also had l O young people complete Barista Training Certificate through Scottish Coffeè School Our tèam also continues utilise a range of personal development qualifications that allow young people to take control of their learning goal and achieve personal targets. These qualifications include the Dynafflic Youth Award, Youth Achievement Awards Customer Service and Money ManagemenL We also support young people to get recognised for their volunteering and have supported young people to gain their Saltire Award. As an approved Scottish Qualifications Authority appreved centre. Barnardo's ETS Scotland delivers a wide range of qualifications for young people. Our SQA Covordinator leads eur services in ensuring the delivery of qualifications for young people meet the required quality standards and this role also helps us to explore and develop new qualification which we can deliver. which are tailored to sult employer and sector entry requirements. Qualifications achlev•d by young people Qualificatlon SQA Personal Develo SQA Princi 1¢5 of Mone AEM Totals for Scotland ment: S•lf and Work 66 34 abill Award 26 A Personal Develo Ast¢ s To Work A Certificate of Work R¢adine55- Units ment Award 29 24 A Units - Other 47 First Aid 85 Paediatric First Ald 45 Mone Man ement S8 CSCS Card REHIS Elementary Health and Safety In a Construction Environment 47 150 Industrial Cadet Association namic Youth Awardlsaltire 19 Manual Handlin 55 Food H iene 58 Total 757
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Case Study AH. an 18-year-old diagnosed with autism. faced challenges transitioning into adulthood. After leaving school without direttion, he struggled with social anxiety and rarely ventured outside. With suppon from Barnardo's and a dedICad project worker. AH embarked on a journey of self-discovery, independence. and personal growth. Achieving financial stability was the first scep. His projert worker assisted him in applying for Universal Credio giving him a sense of independence. Recognising his love for walkin$ he was encouraged to join a group* gradually building confidence in social settings. Encouraged by his progress. AH applied for an Open University History course? providing structure and a sense of purpose. Traveling independently was another challenge. His Young Scot card was attivated, allowing free travel across Scotland. Inttially hesitanc he practiced bus routes with his projett worker and eventually travelled solo. A week later. he surprised everyone by completing a 130-mile solo journey from Inverne55 to Fort William, documenting this achievement through a Dynamic Youth Award. With growing self-confidence, AH locused on employability, completing the SQA First Step Award. Due to social anxiety. a busy workplace wasn't ideal, 50 Opportunities aligned with his interests were explored. Given his passion for history, he applied to an archiving centre, which kept his application on file for future roles. AH'S trdnsformation was remarkable, His mother expressed deep gratitude, emphasizing milestones she never thought possible, such as independent trydvel and social enDgement His willingne55 to consider employment and further education showcased his evolving mindseL Reflecting on his journey, AH shared. "Barnardo's has been incredibly helpful. Support with Universal Credit provided stability, and sorting my Youn8 Scot Card gave me the freedom to travel. Completing the Dynamic Youth Award and SQA qualification has improved my employability and independence." Case Study 2 The participanL a younz individual In their early twentie5, has faced significant adversity from a young age. After losing a paren¢ and Sibling at age four, their other parent struggled to cope, resulong in two years in foster care before movinz into kinship care with their grandparent at age six. Their conract with their parent is now minimal. They previously attended college to study Construction Crafts but had to withdraw due to a Serious head injury from an accidenL requiring hospiLII treatmenL intensive care, and rehabilitation. Following thi¥ they engaged in heavy cannabis use and had minor legal issues, receiving a Diversion from Court order for ¢hefL which they successfully completed. They briefiy worked in a meat processing factory but left after two weeks due to discomfort with the work environmenL They were referred by their DVerSIon from Court worker and initially attended a meetin8 With the support of a worker. Enrolled in Discover your potential (DYP), they expressed incerest in construction but were assessed as not yet ready. They started at Stage I, engaging in one-on-one suppor¢ then progressed to the Fit4Work group before enrolling in a Construccion Course. Their engagem¢Trc and attendance remained Strong throughouL Support was provided across multiple areas including generdl wellbein& drug awareness. and lifestyle changes. Collaborative working with different seNices ensured gradual progression. They achieved several key qualifications. including the Dynamic Youth Award. CSCS card. Mandatory Elementary Health and Safety certificate. and Moving and Handling certificate. They also received grant funding for laptop and driving lessons through the Springboard Fund and Barnardo'5 Young Person's Grant. These interventions supported their transition into scable employment. They secured full-time employment with their construction course placement provider and were made a permanent employee after three months. Their employer reports highly positive feedback viewing them as a trusted and valued member of the team. They enjoy their job and are urldertaking additional training to further develop their career in the construttion induscry.
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) MUNTHAM HOUSE SCHOOL The year endin8 March 2025 has been another incredibly busy but succe55ful one for Muntham House School. Pupils reached record numbers with 125 boys from age 5-19 attending school and all thriving in the environment we offer. The demand on Special Educational Needs {SEN) rernain5 at an extremely high level for all ages but particularly younger ages and the decision we made 6 years ago to open a 54 year old classroom has proven invaluable. The financial environment continues to remain very challenging with higher than inllation pay awards to staff and pressure on the budgets of our Local Authority fee payers. Year on year there is a shortfall in what we recover through fee increases and the increase in our costs. Increasingly grant income is a key resource to the school. We had planned to put the money from Belmer Rush towards a new school minibus this year but were fortunate enough to be able to secure a minibus from the Variety Golf Sunshine Coach scheme and used the Belmer Rush money in other ways... Referrals are at a high level still and we are unable to meet the demands placed upon us to offer places for all. The supporc of Belmer Rush proved vital when. in mid 2024. there was a tribunal decision which placed a boy at Muncham House School with more challenging needs than we typically have in our school. One of the requirements in his EducacioTr. Health & Cire plan (EHCP) was that he could not be taught with any other boys. As we always cry to do in our sch¢>ol, we acted quickly to meec needs and invested the money we received from Belmer Kush towards a bespoke classroom for this pupil. Despice the challen8e5 the boy is scill in school, still enga&ng in his Education and has even started ro spend some nights boarding in che school with his peers. Across the rest of the school the emphasis continues to be on academic achievemen( learning life ki115 such as bankin& cookin& independent trdvel and even driving lessons for our older boys. The school continue5 to invest in training and developing staff to provide the best possible support to our boys and in the last year we achieved Flagship School status with IQM and full accreditation with the National Auristic Society. We achieved Outstanding in the annual Care inspection for the sixth year running. Extra-curricular attivities continue to expand and we have after school clubs for Rugby, Cricke Football and Basketball. Duke of Edinburgh Scheme participation5 continues to prove popular and we followed up last year5 Three Peaks challenge with a sailing crip frorn Southampton to Sark. Drama and Motor Mechanics continues to thrive since being added to the curriculum. Our long tenn ambition remains to expand the school numbers but with slower growth than in the last few years as we are approaching full capacity and further expansion will require some financial consolidation to allow the investments to be phased. In the summer of 2025 we will address the changing need5 in Post 16 provision with Che cwtion of additional teaching space to bring learning for more courses back into the 5ch¢)ol where we have relied on external colleges before now. Following this further expansion of the youngest end of the school would be followed by the addition of 5pace5 for these young boys to grow into further up the school. The Principal and Governors would once again like to express sincere thanks to the Trustees for their award. For thi5 year we plan to use the funding donation to create a Café for the boys to run themselves. This will not only offer healthy snack5 on site buc also contributs another opportunity for learning life skills.
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Public Benefit Statement The Trustees confirm that they have complied with the duty in section 4 of the Charioes Att 201 I to have due regard to the Chariry Commission's general guidance on public benefi¢ 'Charities and Public Benefit.. As statsd ds&where in this repor¢ the payment of grants to the three charities specified in the Foundation's governing document is clear evidènce of both the benefit provided and the relation of this benefi¢ to the aims of the Foundation. The payment of these grdnts to the specified charities which in turn have public benefit reporting responsibilities, meets the principle that the bèneficiaries must be relevant to the Foundation's aims. Structure. Governance & Management Under a scheme approved by the Chariry Commissioners in April 1994. the objectives and limitations on capitsl disbursement specified by Miss Kush were not changed but the Trustee strutture vos defined as: A descendant of William Belmer Rush resident outside the UK The Chair of Governor5 of the Charity & Private Limited Company called Muntham House School Appointed by the Council of Barnardo's Charity Appointed by the Board of Trustee5 of Save the Children Charlty The 1994 scheme provided for three Trustees to fonn a quorum. On 3 March 2005 the Charity Commissioners zranted a Power of Amendment Order. This allows Trustees to deal with certain admlnlstrative matters under advlce to the Charity Commissioner& Forty days, notice is required for any resolutlon proposed under the Order and, appropriate notice being given: che Trustees considered and approved the followiFbZ resolution at their Annual Meeting on 21 June 2005: A clause 4{5) be added stating "The Trustees shall not vary Clauses 2, 13 and 14 of the William Belmer Rush Foundation Scheme sealed by the Charity Commissioners for England and Wale5 on 19 April 1994 withour the prior consent of the said Commissioners" Thls re$oluoon is a mechanlsm to ensure that a quorum of Truse5 could not use these new powers to change the Foundaclon's zovernance principles without the Charity Commissioners, approval. The trus$ Considered and approved a re501ution at their Annual Meeting on 18 July 2013 that added appointment of proxies and use of electronic communication to Clause 12 (about Trustee meetings) of the 1994 Schem¢ The Trnstees meet once a year to review all attivities undertaken Since the last Annual Meeting as well a5 all systems and controls. At that meeting they confirm the Trustees Annual Report and Accounts and discuss any issues concerning the future of the Foundation. Trustees can hold special meetings in the in(erYening period if events require formal decisions to be made. The Trustees appoint an Administrator selected from the staff of and recommended by Save the Children to deal with roucine correspondence and matter5 on their behalf. The Administrator also produces the Trustees Annual Report and Accounts plus papers on Investment5 and Risks Review for discussion at the Annual Meeting. io
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Reference and Administrative Details Charity Number. 00307079 Trustees: Mr 8, Rush Mr J. Knightley- resigned 2024 (Chair of Governors Muntham House School) Mr D. Jones- appointed 2024 (Chair of Governor¥ Muntham House School) Mrs V.H. Tabor (Legacy Operations Manager, Barnardo's) Mr O. Rashid (Philanthropy Manager, Save the Children UK) Address., William Belmer Rush Foundation Clo Save the Children UK - Financial Reporcing and Controls Team Mr D. Cleaver Foundation Administrator Central Finance Save the Children UK I Stjohn's Lane London ECI M 4AR Independent Examiner: Amanda Hall - Counterculture Partnership LLP 23 St Leonards Road Bexhill-on-sea East Sussex TN40 IHH 8anker: National Westminster Bank PLC 250 Bishops8ace London EC2M 3UR Invesrmenc Manager: CCLA Investment Management Ltd l Angel Lane London EC4R 3AB
WILLIAM BELMER RUSH FOUNDATION REPORT OF THE TRUSTEES (continued) Responsibllities of the Trustees Charity law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the srate of affairs of the Foundation and show the surplus or deficit for the period. In preparing these financial sracements the trustees are required to: Select suitable accounting policie5 and then apply them consistently.. Make judgements and escimates that are reasonable and pruden State whether applicable accounting standards have been followed,. and Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Foundation will continue to operate. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation. They are also responsible for safeguarding the assets of the Founda¢ion and hence taking reasonable steps for the prevention and detection of fraud and other irregularitie5. The financial statements have beerb prepared in accordance with the accountin8 policies set our in notes to the accounts and comply with the charity's governing documen( the Charities Aet 201 l and Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland publish•d on 16 July 2014. Statement as to disclosure to th• Independent Examiner In so far as the Trustees are aware at the time of approving the trustees, annual reporL' There is no relevant information. beinz information needed by the Independent Examlner In connection with preparing his reporL of which the Independent Examiner is unaware. The Tru5tee5, having made enquiries of fellow Trustees and the Independent Examiner that they ought to have individually taken, have each taken steps that they are obliged to take as trustee in order to make themselves aware of any relevant informatyon for the independent examination and to establish that the Independent Examiner is aware of that information. Signed on behalf of the Board of Trustee5 Mr B. Rus Truscee stee 12
WILLIAM BELMER RUSH FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM BELMER RUSH FOUNDATION I report on the accounts of the William Belmer Rush Foundation for the year ended 31 March 2025. which are set out on page5 14 - 18. Responsiblllties and basis of report As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Att 2011 ('the Act,). I report in respett of my examination of the charity's accounts carried out under section 145 of the 2011 Att and in carrying out my examination I have followed all the applicable Direttions given by the Charity Commission under section 145(5}(bl of the Att. Independent Èxaminer's statement Your artention is drawn to the fact that the ehariry has prepared the financial Staments in accordance with the relevanc version of the Statement of Récommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2005 which is referred to in the exttnt regulations bui has now been withdrawn. l undersund that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I conffirn) that no material matters have come to my attention In connection with the examination giving me cause to believe that in any maorial respecc Accounting records were not kept In respecc of the charity as required by section 130 of the Act. The accounts do not accord with those records. The accounts do not comply with the applicable requirements concerning che form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement chat the accounts give a 'true and fair view, which is noc a macrer considered as part of an independent examination. I have no concerns and have come across no other matters in connection with che examination to which attenoon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Amanda Hall- Partner Counterculture Pxrtnership LLP Unit 115 Ducie House Dueie Street Manchester, M12JW 13
WILLIAM BELMER RUSH FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025 Not¢s Z024115 1023124 ndowM•nt Total INCOME AND ENDOWMENTS FROM: IVeStmentS 83578 83.578 83378 83,57B 81097 01097 81097 82M97 Total LYPENDITUAE ON: charittb txpndltuY• Grants to.. Save the Children Rtnd Barnirdo's Mwnthèm House 5chc¥Jl Q5,7281 95,7281 (2%n81 (77.1841 125.728) 125.7181 25.7181 177.1841 Q5.1081 <25.1081 5.1081 (75J241 P5,1 P%108) (7&3241 Total Grin15 Support ¢o•ts IA3941 1&394) {&7731 1&7731 Total Exp¢nd¥r¢ I711> (S3n) (81,097) {82,097) Net kn¢offt&l(•xp¢ndityr•) b•fov• N•[gIh){kssI c) In1¢nU (98,6251 (98,6251 164,988 164,988 N•t In¢om&ll•¥•ndltur•) •4ual not mov•n•nt in fvndi (98.62$) (18.62$) 164.988 164.988 RECONCIUATION OF FUNDS Toul fuThdJ brough¢ fmrd 1599,617 1599.617 1434A29 Z434,629 Tot1 ¢wrlpd ftrw 2JOO.*91 2JOO.991 2,$99,417 2J99fv17 14
WILLIAM BELMER RUSH FOUNDATION BALANCE SHEET as at 31 March 2025 Notes 31 mch 2025 31 March 2024 FIXED A5sEf5 Investments 2.500,992 1599,617 CVRREKf ASSErs Cash at bank 84,593 81697 Creditor& knoun¢s falling due within onè yèar (84.593) (81697) Toul net a55ets 2,500,992 2,599,017 THE FUNDS OF THE CHARITY ENDOWMENT FUNDS Capltal fund Inve5¢ment revaluakn reserve 211.784 1289,208 211.784 2.387.833 Total charlty funds 2.500,992 2,599,617 pproved on behalf of the Boird Qf Truste•s M B. Rush Mr5 V. H. Tabor Tru$*¢ Date.. (o[Ir 15
WILLIAM BELMER RUSH FOUNDATION NOTES TO THE ACCOUNTS ACCOUNTING POLICIE5 The financial statements have been prepared under the historical cort convention. except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP {FRS102) 'Accountin8 and Reporting by Charities: Statement of Recommended Prattice applicable to charities preparing their accounts in accordance wich the Financial Reporting St2ndard applicable in the UK and Republic of Ireland (FRS 102) (effeccive I january 2019).. Financial Reporting Standard 102 the Financial Reporting Sondard applicable in the UK and Republic of Ireland (FRS 102). and the Charities Act 2011. William Belmer Foundation meets the definition of a public benefir entity under FRS 102. Assets and liabilitie5 are initially recognised at historical cost or trans3Ction value unless otherwise stated in the relevane accounting policy nore(s)- Public benefit entity status The charity meets the definition of a public benefit enticy under FRS 101 1.2 Going concern status The Trustees consider that there are no material uncertainties about the charity's abiliry to continue as a going concern. 1.3 Income All income is included in the Statement of Financial Attivities as soon as the following three factors can be met.. Encltlement- when income is receivable or the charity's right become5 leDlly enforceable. Probable- when it is more likely that not that that the income will be received, Measuremenr - when the monetary value of the Income can be measured with sufficient reliabiliry. 1.4 Expenditure All expenditure is recognised once there is a legal or constructlve obligatlon to make a payment to a third par¢y. a) Charioble activitles Costs of charitable activities comprlse all costs Incurred In pursult of the charitable objectives of the charity. After providing for creditors, the remalnlng Income recelved for the year Is disbursed to the beneficiaries as described in the Trusrees. ReporL b) Support costs Support costs are shown under the appropriate SOFA expendicure ca*ory and consist solely of governance cests which comprise all costs attribucable ro ensuring the public accountability of the charity and Its compliance with regulation and good practice. These cosc5 included independent examination fees and truscee expense5. 1.5 Taxation The William Belmer Rush Foundation is a registered charity and as such is exempt from taxation of its income and gains to the extent that they are applied to its charitable PLSfposes. 1.6 Investments Investments are shown at markec value. Net realised and unrealised gains and losses are reflec(ed in the Statsment of Financial Activitie5. 16
WILLIAM BELMER RUSH FOUNDATION NOTES TO THE ACCOUNTS (continued) INVESTMENT INCOME Incoming resources includes investment income of £83,579 {see breakdown below): 2024125 2023124 Interest - Deposit Fund Dividend income - Investment Fund 2,800 60,583 20,195 83.578 2.896 59.395 19.806 82,097 72% Dividend incorne - Property Fund Total 24% GOVERNANCE COSTS The provision for the 2024125 travel expenses was £5,SOO (2023124.. £5,500). Costs of £4,482 were incurred for the 2023124 AGM held in June 2024. The number of trustees in receipt of travel expenses was l (2023124: 1). The basic administration fee is £1,200 per annum payable to Save the Children UK with the cost of any additlonal work shown separately. There was no additional work during the year to 31 March 2025. Costs also include £708 (2023124: £6n) for Independent examlnatlon fees. No trustees were in receipt of remuneratyon in the year (2023124: 0). INVESTMENTS The investments represent the endowed capl(al of the Foundatlon and are not aydllable for distribution by rhe Trustees. The valuation of che Charities Officlal Invesmient Fund (COIF) Investment fund, propercy fund and capital fvnd (held in a deposit account) as at 31 March 2025 are shown below. All income is received gross of tax. Deposit Inve5¢nRnt Fund Property Fund Total 2024125 Total 202412S 2024125 20241ZS 2023124 Market valuè l April Unrea115ed 8alnsll10s5e5) Markei value 31 March 5,932 2227590 {103.789) 2,123,801 84. 366,095 5,163 J71,258 14.80% 2,599,617 (98,62S) 2,500,992 1434,629 164.988 1,599,617 5,932 0.20X % of total Invertnt This endowment investment portfolio comprises two forms of basic financial instrumenc The capital fund (deposit account) is cash. The investment fund and property fund are Ilsted investments which are initially recognised at their tran5attion value and subsequently measured at their fair value as at the balance sheet date using the closinz quoted market price. 17
WILLIAM BELMER RUSH FOUNDATION NOTES TO THE ACCOUNTS (continued) CREDITORS 2024125 2023124 Grants payable Trustee travel provision Independent examiner's fee provision Administration fee 77.185 5JOO 708 75,325 5,500 672 1,200 84,593 1,200 82.697 Total RELATED PARTIES The charicy trustees disclosed on p4e I I Include one from each of the bonefiting charities. The material transactions with these charitSe5 are disclosed In the Trustee5' Report on page 2. NET MOVEMENT IN FUNDS Balance l Aprll 2024 Gains1(10sses) J l March 202S Balance Original capital fund Investment revaluation reserve 211,784 2,387,833 2,599,617 211,784 2.289,208 2.500.992 (98,625) (98,625) Total 18