ThèT End0¥Mnt Umlted Gua Trusttts and H nclal f •ndtd Cofflpany No. 864531 IEn8l•nd and Wales) th•TIty No. 309103
TheT En .Com Pkn. 864531 lor the Rewt ofthe Trustees Rewt of the Independent Audltors Statement of Flnandal Actlvltles 8alance Sheet io Statement of Cash Flows li Notes to the Flnanclal Statements 12-17
Endowment Umlted b Gy¥antee 0. 864531 Re rt ofthe Trustees forthe ed31Ju The 8oard of Trustees present their annual report and a4Klited financlal statements for the year ended 31 July 2025 and conflrm they cornply with the requirements of the Charities Art 2(K16, as amended by the Charities Act 2011, the Companies Act 21X)6, the Articles of Assouation and 'Accounting and ReportinB by Charlties,: Statement of Recommended Practice applicable to charities preparlng thelr fjnoncial ststements in accordance with the Flnan¢l31 Reporting Standard 102- second e(Iltion. effective l January 2019. As the dedslon ha5 been made to cease artlvttles In the charity. the accounts are therefore prepared on a basss other than as a going concem. REFERENCE AND ADMINISTRATIVE INFORMATION Bockground The Tovty Endowment IToveyl was founded In 1%5. The Charity Is registered wlth the tharleS commlsslon. number 309103 and Is also a comnY limited by guarantee, registered Company number 864531. The reglstered offlce and prfn¢lpal address of the company Is clo Mccarthy Dennln& 70 Mark Lane, London, EC3R 7NII Tnistees The present Charlty Tnjstees and Dlrertors of the Company. and any ex-Dlrertors who served durlng the perlod and since the perlod end were.. Chalr C Marshall Dlrectors C Brereton T 8untlng N Owen Company Secretsry M Lambert Bankers The Co-operatlve Bank PO Box 250, Delf House Skelmersdale WN8 61h CCLA Investment Management timlted COIF Charity Funds Senator House, 85 Queen Victorla street London EC4V 4ET Independent Auditors Haysmac LLP Solldtors Mccarthy Dennln8 Umlted
Endo¥mièn Com UmSted No. of the Trustees for r ended 31 Ju 2025 contlnued STrUCtVRE, GOVERP4ANCE AND MANAGEMEI Go¥ernlng Document The company 1$ govemed by its Articles of AS$LlatIon INQ. 8645311, I101pOrated on 19 November 1965, amended by Special Re501ution on 12 May IW, reprfnted with amendments In 1998 and amended by Special Resolution on 4 Decemr 2012. Further amendments were made to the Articbes of Assoclatlon on 13 August 2019 and 21 lune 2022. Govèrnlng Body The Trustees, who are also rtquired under the Articles of Asswatbon to serve as Dlrectors of the Company. and members of the Charity have thelr appolntment conflrnied at a full Trustees, Meetlng. RKruftm•nt and TraInI ol Truste The Trustw brln8 3 wlde ran8e of skllls to the Board. and the malntenance of th15 breadth of range, as well as empathy wtth Tove¥s aims, are prime considerations In selectln8 new tnJstees. Given the nature of the charltvs work, It Is Srnportant that knthedt. understandlng and experience of educatlon are present wlthln the Board. The composltlon of thè current Board Indudes those with experience wfth other educatlonal ¢harltle5. Es5entSal skllls In bus1r, strateglc plannin& flnance. publlc relatbons and fvndralsln8 are also represented on the Board. On appolntment. Trustees are provlded wlth relant documentatlon and tralnln8 On thelr responslbllltles and on the charws actlvltles, as part of their Snductlon. They are also encoura8ed to undertake external tralnlng and to keep abreast of developments In chartty law. 5afeguardln& educatlon, and flnanclal mana8ement. All Trustees 8lve of thelr tlme freely and no remuneratlon or eynses were pabd in the perlod12024: £NIII. CWnS$11Son•l M•n•ymetht The trustees have deleNated day-to4ay running of the charity to the Royal Natlonal Chlldren's Sprln8board Foundatlon IRNCSFI senlor management team. *tho rectlve no rèmuneration from Tovev. Rksk Manayment The trustees are responslble for management of rlsks faced by the charlty. To ensure effklent rlsk management, they oversee processes which identify, a$5ess and control rtsk. These proosse5 are revlewed re8ularly and Include regular eoard meetlng5 and the use of an experienced mana8ement team to oversee the charltv.
e Tove Endowment Guarantee Umlted Re ofthèT ded 31Ju cont5nued AIMS, OWEcllvES AND ACTIVITIES FOR THE PUBUC BEPIEHT Alms The Charitvs objerts, a5 Set out in the Artlcles of A$50ciation. are to further the educatlon of children and young people. As an educational chartty It uses and applie5 for purposes all monles and property comlnB Into It. Oblertlve5 Section 4 of the Charities Act 200612011 requires chaAty Trustee5 to compty wlth their duty to have due regard to publSc benefft 8uidance published by the Charity Commission in exerusin8 their powers or dutie5. The Trustees have considered the requirements explained Sn guldance woduced by the Charlty Commlsslon, on thelr duty to report in the Annual Report on public benefrt. The Trustees have ¢onsldered thls matter and conduded: l. that the alms of the charlty contlnue to be charltable: 2. that the alms and the work done give Identlfiable benefits to the charitable sertor and both Indlrertlv and dlrtctly to lrtdlviduals in need,. 3. that the beneflts are forthe publlc. are not unreasonabty restrirted In any way and not by abllltyto pay and 4. that there Is no detrfment or harni arising from the tharws alms or actlvltles. After the sale ol Highfield Preparatory School on 13 November 2019. the Trustees of the charlty consSdered varfou5 Optlons as to how to fvlI the charws objects, eventually choosln8 Royal National Children's Sprlngboard Foundatlon IRNCSFI as the ideal vehicle through whlch Its objects could best be accompllshed, and malnly ihrough the provi55on of Brants. On 16 October 2020. the Trustee5 of the charity resl8ned, and four RNCSF Trustee5 were appointed as Trustees. On 21 June 2022. RNC5F became the sole corporate member of Tovey. As a re5uh. Tovey is controlled by RNCSF arml Is consolidated into th RNCSF group accounts. FIMANCIAL REVIEW AND RESULTS FOR ThE PERIOD The results for the year ended 31 Juty 2025 are set out on pages 9-17. Glven ecorbomles of stale 8ained by becomln8 a part of the RNCSF 8roup. operatin8 costs are minimal. Reser¥es Polky The Trustees malntaln a sufflclent level of reseThes wlthln the charity to ensure that any potentlal Ilabilltles are able to be met when due. At year end, the charity had reseryes of £1,326,131 which were all unrestrlcted12024.. £1,270,658). Grnnt m•klw pollcy The Trustees conslder the potentlal beneffts of anygrants to be made and whetherthey meet the objert5 ofthe charlty.
The Tove rantee Endowment an No. 8645 of the Trustee5 for the ded 31 Ju 20 ntlnued srATEMENf OF DIRECTORS'ITRUSTEES. RESPONSIBILMES The Trustees Iwho are also directors for the purposes of Company Lawl are responsible for preparing the rinancizl statements in accordance with applicable law and United knn8dom Generally Accepted Accountin8 Practlce. Company law requires the Trustees to prepare finanaal statements for each financlal year. Under that law the Trustees have elected to prepare the financial statements in accordance with the Untted Kln8dom Generally Apted Accounting Prartice (United ngdoM Accountlng Standards and applicable lawl. The flnancial statements are requlfed by law to 8ive a true and fair view of the State of affalfs of the charitable company and of the surplus or deflclt of the charitable company for that year. In preparin8 those fftnanclal statements. the Trustees are required to select suitable accountin8 policies and then apply them consistently; observe the methods and princlples in the Charities Statement of Recommended Prartl¢e ISORPI; make lud8ements and estlmotes that are reasonable and prudent: stste whether applicable UK Accountln8 Standards have been followed, subject to any materlal departures disclosed and explalned In the flnancial ststements: and prepare the financial statements on the going concem basis unless It Is 5napproprlate to presume that the charitable company wlll contlnue In operatlon. The Trustees are responslble for keepln8 Proper accountin8 records whkh dlKlose wlth reasonable accuracy at any tlme the financial position of the charitable company and to enable them to ensure that the financlal statements comply with the Companies Art 2(()6. They are also responslble for safe8uardin8 the assets of the charltable company and hence for tskin8 reasonable steps for the prevention and detectlon of fraud and other Irre8ulaTltles. STATEMENT AS TO DISCLOSURE OF INFORMAnoN TO AUDITOAS So far a5 the charitable company director5 are aware, there is no relevant audit information las defSned bv Sectlon 418 of the Companie5 Act 2W61 of which the company'5 auditors are unaware, and each charStable company dirertor ha5 taken all the 5tep5 that theyou8ht to have taken as a dlrertor in orderto make themselves aware of any relevant audlt inf0mtItin and to establish that thè ¢ompany's auditors are aware of that Infomiatlon. Thls report has been prepared In accordance with 'Accounting and Reporting by tharities,: Statement of Recomrnended Prartice applioble to charitles preparlng thelr financial statements In accordance wlth the Financial Reportin8 Standard 102 leffertive January 20191 and In accordan wlth the speclal provlslons of Part 15 of the Companles Act 26 relatlng to small enthies. Approved by the Board at its meetin8 on 4 December 2025 and slgned on Its behalf by: C Marshall Chairman
The To¥e Endowment Guarantee an Llmrted No. 864531 INDEPENDENT OKS REPORT TO THE MEMBERS OF TH the 31J 2025 TOVEY ENDO ENT Oplnlon We have audited the financial statements of The To¥ey Endowment for the year ended 31 July 2025 whlch comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the flnancial statements, including a summary of significant accounting policie5. The financial reporting framework th¥t has been applied in their preparation is applicable lawand United Kingdom Accountln8 Standards. including Flnanclal Reportlng Stsndard 102 The Financial Reportin8 Standard applltable in the UK and Republlc of Ireland Iunlted Klngdom Generally Accepted Accountlng Practl¢el. In our oplnlon, the flnandal statements.. Ve a true and fair view of the state of th charitable compan$ affalr5 a5 at 31 July 2025 and of the haritable companvs net movèment in fvnds. including the Income and expendlture. for the perlod then ended,. have been property prepared In accordance wlth Unlted Kln8dom fjeneralty Accepted A¢¢ountln8 prartI,. and have been prepared In accordance wlth the requlrements of the Companles Act 2006. B•s15 lor oplnSon We ¢ondu¢ted our audlt in accordance wr<h International Standards on Auditing IUKI IISAS IUKII and applicable law. Our re5ponslbllltbes under those standards are fvrther described In the Audltoffs responslbllliles for the audlt of the financlal statements se¢iion of our report. We are Independent of the charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the fInarla1 statements In the UK, Includln8 the FRes Ethlcal Standard. and we have fulfilled our other ethkal responslbllltles In oraTh wlth these requlrements. We belleve that the audlt denCe we have obtalned Is suffident and appropriate to provlde a ba515 for our oplnlon. Emphasls ol Matter- basss of preparatlon We draw attention to note 2in of the financlal statements whlch explalns that the trustees have made the dec15ion to cease trade in the charity and therefore do not consider it to be approprlate to adopt the goln8 con¢em basls of a¢wuntln8 in preparin8 the financial statements. Accordln8ly the flnanclal statements have been prepared on a bas15 other than 80in8 concern a5 described in note 2lQ. Our oplnlon Is not modlfled In respect of thls matter. Our responslbllltles and the responsibilitles of the trustees wlth respect to golng concèrn are des¢rlbed In the relevant sertions of this report. Other Inft¥rmatlon The tnjstees are respons5ble for the other infom•tion. The other information comprlses the Informatlon Induded In the Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitty stated in our report. we do not express any form of a55urance concluslon thereon. In connertion wth our audit of the firtantial statements. our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or ourknowledge obtalned in the audit orothepwiseappÈarsto be materlally mlsstated. If we identifysuch material incon51Stencles or apparent material misstatements. we are requlred to determine whether there is a material misstatement Sn the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are requlred to report that faci. We have nothin8 to report in thi5 reBard.
The Tove Endowment Umlted b Guarant 31 INDEPENDENT A OR'S REPORTTO THE MEMBERS OF THE T for the ear end lju 2025 EY ENIX)WME in Oplnlons on other matters prescribed by the Conwanie5 Art 21#)6 In our opinion. based on the Work undertaken in the course of the audit: the information given in the Trustees. Report Iwhich it)dudes the directors. report prepared for the purpose5 of company lawl for the financial year for whlch the finanaal statements are prepared is consistent with the financlal statements: and the directors, report induded within the Trustees, Report has been prepared in accordance wlth applicable legal requirements. Matt•fS on whlch we •r* requlred to report by ex<eptlon In the118ht of the knowledge and understanding ol the tharttable company and Its envlronment obtalned In the course of the audit, we have not identified rnaterial misstatements In the Trustees. Report Iwhlch incorporates the dlrectors. report). We have nothln8 to report In respert of the following matters In relatlon to whlch the Companles Art 2006 requlres us to report to you If. in our oplnlon: adequate accountln8 records have not been kept by the ¢harltable Company: or Ihe ¢harltable company finanaal statements are not In a8reement wlth the accountln8 records and returns,. or certaln dlxlosure5 of trustees, remuneratlon spedfled by law are not made; or we have not recelved all the Information and expl3natlon5 we require for our audlt,. or the trustees were not entltled to prepare the financlal statements in accordance wlth the small companles, regime and tske advantage of the sm811 ¢ompanie5' exemptlons In preparlng the Trusteès. Report and from the requlrement to prepare a sirate8k report. R•sponslbllltl•s of trust••s for th• lInalI1 stat•m•nts As explalned more fully In the trustees, responslblllties statement set on page 5, the trustees Iwho are also the dlrectors of the charltable company for the purposes of company lawl are responsible for the preparatlon of the financlal statements and for belng satlsfied thattheyglve atrue and falr vlew, and for such internal control as the trustees determine Is necessary to enable the preparatlon of finandal statements that are free from materlal misstatement, whether due to fraud or error. In preparlng the flnanclal statements. the trustees are responslble for assesslng the charltable companV5 ablllty to continue a5 a 8oin8 concern, d15c1051 as applicable, matters related to going concern and usln8 the 8oln8 concem ba515 of accountin8 unless the trustees elther iniend to Ilquidate the tharltable company or to cease operatlons, or have no reallstic alternative to do $0. Audltorfs reSponbIlIt$ lor ihe audlt of the finandal statements Our objectwes are to obtain reasonable assurance about whether the financial statements a5 a whole are free from materlal mlsstatement, whether due to fravd or error, and to issue an auditorf5 report that includes our oplnlon. Reasonable assurance is a high level of assuran, but 15 not a guarantee that an audlt conducted in a¢¢ordance wlth ISAS IUKI will always detert a material mi$5tstement when it exists. Misstatements can arlse from fraud or error and are considered materbal rf, individually or in the ag8re8ate, they could reasonabty be expecte(I to Influence the economic decusion5 of US taken on the basls ofthese flnandal statements.
Endowment Com LiMid Guara 531 PENDENT A DJT IVS REPORTTO THE MEMBERS OF THE TOVEY ENDOWMENT forthe r ended 31 Ju tithued Audltorf5 responslbllltle$ for the audlt of the finandal statements lcontlnuedl Irregularities, including fraud, are instances of non-compliance with laws and regulations. We des18n procedures in line with our responsibilitie5. Outlined above. to detect material misstatements in respect of irregularitles. Including fraud. The extent to whl¢h our procedures are capable of detecting Irregularities, indudlng fraud Is detailed below.. Based on our understandin8 of the charitsble company and the environment in which it operates. we Identified that the prlnclpal rlsks of non-compliance with laws and re8ulations related to charity law and we considered the extent to whl¢h non-compliance might have a material effect on the financial statements. We a150 consldeied thost laws and re8ulations that have a direct impart on the preparatlon of the financial statement5 such as the Companie5 Art arml the IrItbes Act 2011. We evaluated managemenvs Incentives and opportunities for fraudulent manipulatlon of the financlal statements Iln¢ludin8 the rlsk of override of controlsl. and determined that the prlnclpal rlsks were related to postln8 Inappropriatejournal entries. Audit procedvres performed by the engagement team included.. Obtalnln8 conflrmation and corroborat5n8 evSdence that there have been no regulatory or tax compllance Issue5: DIscu5slons with management and review of relevant mlnutes of trustee< meetln85 Includlng conslderatlon of known or 5usperted in5tance5 of non-compllance wlth laws and re8ulatlon and fraud,. Evaluatin8 mana8emenVs controls deSned to prevent and dete¢t Irre8ularitie5; Identifyin8 and testln8 journ5. In partlcular houmal entrles $1¢1 by unusual users or wlth unusual descrlptlons; and Challenging assumptlons aNI jud8ements made by mana8emeni In thelr accountln8 estlmates. Because of the Inherent Ilmltation5 of an audit, there 15 a rfsk that we w511 not detect all Irre8ularltles, Includln8 those leadin8 to a material misstatement in the financSal statements or non-compllance wlth re8ulatSon. Th15 rlsk Increases the more that complIan wlth a law or regulatlon Is removed from the èvents and tran5artion5 reff erted In the financial statements, as we w511 be1tt$5 likely to become aware of Instances of non-compllance. The rlsk 6$ 31$0 8reater re8ardln8 Irre8ularitles occurrin8 due to fraud rather than error, as fraud Involves Intentlonal concealment. forsery. colluslon. Om0Th or misrepre5entatlon. A further descrlptlon of our responslbllhles for the audlt of the fInancl ststements Is located on the Flnanclal Reportln8 Council's website at: www.frc.or8.uVaudttorsresponslbllltles. Thls descrlptlon fomis part of our audltorfs report. Use of our report This report 15 made solely to the tharltable company's members, as a body, In accordance wlth thapter 3 of Part 16 of the Companies Act 2(M)6. Our audit work has been undertaken $0 that we mS8ht state to the tharltable companvs members those matter5 we are required to 5tste to them in an Auditor's report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charitabbe company and the charttable company's members as a body, for our audlt work, for thls repor¢ or for the opinions we have fonned. 11 December 2025 Tracey Youn8 (Senior St¥tLrtory Audf(orl for and on behalf of Haysmac LLP. Strtutory Auditor 10 Queen Street Place London EC4R IAG
TheT Guarantee Llm Com No. 864531 STATEMENT OF FINANCIAL AcllviTIES Ilnduding Income & Expenditure Account) YEAR ENDED 31 JULY 2025 Unre5trlrted Totsl Funds 2025 Totsl Funds 2024 INCOME FROM: Chafltable artfvltle5 Investments 60.037 63,576 Total Incom• 60.037 63,576 ÉXPENOITURE ON: Ch•rllabl• •rtl¥ltl•s Support Costs Total expendlture 4,564 14.5641 4,569 14,5691 N•t mo¥em•nt In fvnds 55.473 59,(KJ7 Tot•1 fvnds broulht forw•Y 1,270.658 1,211,651 Tot•1 funds ¢aryled lorw•rd 1.326.131 1,270,658 There have been no reco8nised 8ains or losses other than those Included abo¥e. All amounts In the current perlod relate to cont5nulni actbvlties. The 3ccompanylnB notes form part of these financial statements.
The To¥e Endowment Guarantee Com an Umtted BALANCE SHEEr AS AT 31 JULY 2025 COMPANY REGisfRATION NUMBER 864531 Note 2025 2024 CURRENT ASSErs Cash at bonk and in hand Short term deposits 351 1,345.851 1.346,202 387 1,285,814 1,286,201 CREDITORS: amounts falllng due within one year 20.071 IS,5431 NET CURItENT ASSETS 1,326,131 1.270.658 TOTALASSETS LESS CURRENT UABIUTIES 1,326,131 1,270.658 TOTAL NET ASSETS 1,326,131 1,270,658 FUNDS General FurKI 1.326.131 L270,6S8 TOTAL FUNDS 1,326,131 1,270.658 Approv the Trustees and ue. and sioned on thelr behalf by: Clive ar5hall Chalrman 4 December 2025 The ac¢ompanyln8 notes forni part of these financial statements. 10-
The Tove Guarant Endowment Com an Limited STATEMEKf OF CASH FLOWS YEAR ENDED 31 JULY 2025 Plote 2025 2024 N•t cash Benerated by l {us¢d Inl actl¥hle5 1361 34 C•sh flows from Investlni acU¥ltles Investment Income 60,037 63,576 P4•t cash pro¥ld•d by knv¢stlry artlvltles &J.037 63,576 In cmh ind cash •quh•l•nts In the p•rlDd 60.Q)i 63.610 Cash and cash equlvalents brought forward 1.286,201 1,222,591 C•sh •nd ¢•sh •quhlents orrled forw•fd 1,346.202 1,286,201 Analys15 of c•5h •nd cash •qul¥•hnts Cash at bank Short-term deposlts 351 1.345,851 387 1,285,814 1,346,202 1,286,201 The accompanyln8 notes form part of these hnan¢lal statements. 11
Umlted b Guarantee 0. 864531 Ploies to the FInala1 Statements for the 2025 St•tutory Inlorni•tlon The Tovey Endowment is a prlvate company, limited by guarantee incorporated in En8land and Wales and has its re8lStered office and Pfincipal place of business at c/0 Mccarthy Dennln& 70 Mark Lane, London. EC3R 7NQ The charitable objects of the company are that of advancing educatlon for chlldren and young people, includin& but not exclusively. by providSng a school or s¢hoo15 in or near Maidenhead, Bet*shlre. The trustees have dedded that the chariVs objects are best furthered by the provlslon of grants. The financlal statements are presented in Sterlln81£l. which b5 also the functlonal currency of the company. A¢wuntln8 Polld The pr5ncipal accountin8 pollcies adopted. judgements and key sources of estlmatlon for uncerralnty In the preparatlon olthe financial ststements are as follows: {•) B•sl3 of A¢countln8 The flnancial statements have been prepared In 3c¢ordan¢e wlth'Ac¢ountln8 and ReportSn8 bv Ch•r6ties': Statement of Recommended Practlce appllcable to charltles preparinB their financlal statements in accordance wlth the Flnanclal Reportlng Standard appll¢able In the UK and Republ1¢ of Ireland IFRS 1021 (Charitles SORP IFRS 102- second edltlonll, the Flnanclal ReportSn¥ Standard applicable in the UK and Republic of Ireland IFRS 1021. and the Companies Act 2006. Assets and Ilabilities are Inltialty re¢o8nised at hIstorl¢ cost or transartlon value unless otheThvlse stated In the relevant accountin8 polky notelsl. The Tovey Endowment meets the definition of a publk benefit entlty (bnder FR5 102. {bl Futhd A¢¢ountl Unr•strlrted Funds The general fund Is avallable for use at the d5scretlon of the trustees in furtherance of the general objective5 of the charity. {c) Income reCOlI10n polkl•s ems of income are reco8nis•d and Snduded In the financial statements when all the followlng criterla are met: The charity has entltlement to the funds.. Any performance conditions attached to the item(51 of income have been met or are fully wlthln the control of the charity- There is suffbcient certainty that reipt of the income is consIded probable, and The amount can be measured reliably. Interest rtte5vable Interest on funds held on deposr¢ is induded when receable and the amount can be measured reliably by the charity- this Is Irmal uFn notification of the interest pald or payable by the bank. 12-
TheT Umlt No. 8645 Note5 to the financial 5tatemeftts continued or ended 31 Ju 2025 Accountlng PoU¢les Icontlnued) Idl ExpendIre and lffecovernble VAT Expendlture Is recognised onte there is a legal or constructive obli8atlon to make a payment to a thlrd party, it is probable that settlement will be required and the amount of the obll8atlon can be measured reliably. Expenditure is dassified under the followln8 actfvity headings: Grant expenditure comprises grants made wheTr the 8rant ha5 been approved by the trustees. Grants are made to entities that share a common objeci of the advancement of edtion for chlldren and youn8 people. Governance costs indude those costs associated wlth meetlng the constltutlonal and statutory requirements of the charity. These costs include costs relat to the Independent audltorf5 fee, D8S checks and other related expense Irrecoverable VAT Is charged as a co# 48alnst the aalvlty for whlch the expendlture was Incurred. {•) Flnanclal ass•ts and UabllStles Trade and other debtors are initially Tecognised at transaction prSce and are subsequentlv remeasured to amortj5ed Cost using the effert interest method, less Impalrment losses for bad and doubtful debts. except where the effect of dls¢ountSn8 would be Smmaterlal. In such cases, the recefvable5 are stated at cost less 5nyalrment losses for bad and doubtful debts. Cash and cash equivalents compr5se cash at bank and In hand. demand deposlts wlth banks, other short-term hlghty Ilqubd Investments wSth orlglnal maturltles of three months or less and bank overdrafts. Trade and other credltors are initially reco8nised at transortion price and are 5ubsequentlv remeasured to amortised cost U5in8 the efferti¥e interest method unless the effect of dlscounting would be immaterial. In which case they are ststeil at cost. {fj Golry conc•rn TheTrnstees have made thedeciyontoctaseadivitses Inthe charlty and therefore do not consldef It to be appropriate to adopt the goin8 concern baS of accosJntln8 in preparln8 the flnanclal statements. Accordin8ty the finarKial statements have been prepared on a basis other than 8oin8 concem. The trustees have considered the N)n•appllcabillty of the goin8 concem assumption to the carryin8 value of the charws assets and liabilities and consider that the valuation of the charrV5 net assets is not affected and thattherÈfrJrÈ no alUatIOn is required. 13-
Endowment Com Llmlt uaran No. 864531 continued ar end 2025 Staff Costs There were rbo employee5 in the current or prior year. 4 Analysls of Expendltsr• 2025 2024 ch•rtI•b A¢tl¥lt Support Costs Ilncludln8 Governance Costs) 4.564 4,569 Totsl Expendlture 4.564 4,569 Go¥em•n¢e Costs ofthe Ch•rlty Include: 2025 Z024 Audltors, Remunera0. ForAudlt 4,494 4,2 14-
Endowment Com Llmlted uarn No. 864531 Notes to the Flnanclal Statem lju 2024 2023 Short Terni Deposlts COIF Chadty Funds 1.345.851 L285,814 Credltors Amounts owed to group undertakln8s A¢¢ruals and deferred income 15.577 4,494 11,343 4,2OJ 20,071 15,543 Tr•nrtIOnS wlth R•knt•d P*rtlts The Trustees recelved no remuneratlon or other beneffts for perlod and no relmbursement of expenses durln8 the peflod or prlor year. RNCSF pald £4,234 of operatln8 expendlture on behalf of Tovey withln the year 12024: £4,063) wlth Jn Intercompany payable owed from Tovey to RNCSF at year erMI of £15,577 12024: £11,343). 15-
TheT Endowment ntee Um Notes to the Financial Statements continued for the r ended 31 Ju 2025 Funds Atl Aulust At 31 July Unrertrlcted Funds General Funds 1.270,658 60,037 14.5641 1.326,131 Total Funds 1.270.658 60.037 14,5641 1,326,131 Prlor YMr Funds Atl AU$t At 31 July Unrestrlrt•d Funds General Funds 1,211.651 63,576 14,5691 1.270,658 Tot•1 Funds 1.211.651 63,576 14,S691 1.270,658 16-
The Tove Endowment Guarantee mited Notes to contlnued 31Ju 202 Reconclllatlon of net mo¥ement In funds to net cash Ibow from operatlng actl¥ltles 2025 2024 Net movement In funds Dedurt interest income Increase In Creor$ 55,473 160,0371 4,528 59,ts)7 163,5761 4.603 Net Cash lused inl generated by operatln8 artlvlties 1361 34 17-